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Home   »   ETFs : SPDR® Barclays Aggregate Bond ETF (LAG)
LAG

SPDR® Barclays Aggregate Bond ETF

Fund Objective

The SPDR® Barclays Aggregate Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays U.S. Aggregate Index.

Ordinary brokerage commissions may apply.

Fund Information

As of 07/03/2015
Ticker SymbolLAG
Primary BenchmarkBarclays U.S. Aggregate Index
CUSIP78464A649
Options AvailableNo
Gross Expense Ratio

Acquired Fund Fees and Expenses of 0.02%. Acquired Fund Fees and Expenses reflect the Fund's pro rata share of the Fees and Expenses incurred by investing in other investment companies, including affiliated investment companies.

The gross expense ratio is the fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.10%
Net Expense Ratio

SSGA Funds Management, Inc. (the “Adviser”) has contractually agreed to waive its management fee and/or reimburse expenses in an amount equal to any acquired fund fees and expenses (excluding holdings in acquired funds for cash management purposes, if any). This waiver and/or reimbursement does not provide for the recoupment by the Adviser of any amounts waived or reimbursed. This waiver and/or reimbursement may not be terminated except with the approval of the Fund’s Board of Trustees.

0.08%
Inception Date05/23/2007
Investment ManagerSSGA Funds Management, Inc.
Management TeamFixed Income, Currency & Cash Investments Team
DistributorState Street Global Markets, LLC
Distribution FrequencyMonthly
ExchangeNYSE ARCA EXCHANGE

Fund Characteristics

As of 07/02/2015
Average Maturity in Years

Average Maturity

The market value-weighted average maturity of the bonds in a portfolio, where maturity is defined as Stated Final for bullet maturity bonds and the average time to receipt of all principal payments for amortizing instruments, including mortgage pass-throughs, CMOs, amortizing asset-backed securities and ARMs.

7.90
Average Price$104.17
Average Spread49.8
Average Yield To Worst

For callable and/or puttable securities, the minimum value of the yield to maturity, yield to put, and yield to call. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

2.40%
Current Yield

 Average Current Yield

The market value weighted average current coupon of the bonds in the portfolio divided by current market price of the bonds in the portfolio.

2.86%
Modified Adjusted Duration

Modified Adjusted Duration

An option-adjusted measure of a portfolio's sensitivity to changes in interest rates.  Calculated as the percentage change of a portfolio's value for a 100 basis point change in yield.

5.68 years
Number of Holdings2,284
Yield To Maturity

Average Yield to Maturity

The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

2.40%

Yields

As of 07/01/2015
30 Day SEC Yield

30 Day SEC Yield (Standardized Yield) 

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.

2.23%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized Yield)

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price that does not take into account expense ratio subsidizations.

2.23%
Fund Dividend Yield

Fund Dividend Yield is the sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

2.52%

Index Characteristics

As of 07/02/2015
Average Maturity in Years7.87
Average Price$104.35
Average Spread50.9
Average Yield To Worst

For callable and/or puttable securities, the minimum value of the yield to maturity, yield to put, and yield to call. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

2.42%
Current Yield

 Average Current Yield

The market value weighted average current coupon of the bonds in the portfolio divided by current market price of the bonds in the portfolio.

3.10%
Modified Adjusted Duration

Modified Adjusted Duration

An option-adjusted measure of a portfolio's sensitivity to changes in interest rates.  Calculated as the percentage change of a portfolio's value for a 100 basis point change in yield.

5.64 years
Number of Holdings9,496
Yield To Maturity

Average Yield to Maturity

The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

2.42%

Fund Documents

Fund Market Price

As of 07/01/2015
Bid/Ask$57.17
Closing Price$57.18
Day High$57.23
Day Low$57.13
Exchange Volume (shares)

The Exchange Volume represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

4,952
Premium/Discount0.02%
Premium Discount to Nav Chart

Fund Net Asset Value

NAV

Market value of a mutual fund's and ETF's total assets, minus liabilities, divided by the number of shares outstanding

As of 07/01/2015
Price$57.16
Shares Outstanding17.20 M
Total Net Assets$983.15 M
Most Recent NAV / NAV History XLS

Fund Net Cash Amount

As of 07/01/2015
Net Cash Amount$9,846,751.72

Purchase Information

Buying and Selling ETFs

ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

Ordinary brokerage commissions apply.

Performance Graphs

Month End as of 05/31/2015

Fund Inception Date: 05/23/2007

Index Inception Date: 01/31/1989

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Quarter End as of 03/31/2015

Fund Inception Date: 05/23/2007

Index Inception Date: 01/31/1989

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; Barclays Aggregate Bond ETF" bmarkName="Barclays U.S. Aggregate Index"><funds><field>1 Month</field><fund>0.48</fund><index>0.46</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>1.61</fund><index>1.61</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>1.61</fund><index>1.61</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>5.64</fund><index>5.72</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>2.96</fund><index>3.10</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund>4.30</fund><index>4.41</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index>4.93</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>5.17</fund><index>5.17</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of 07/02/2015
NameWeightMarket ValueISIN
US TREASURY N/B 1.375 01/31/20201.32%12,968,065.51US912828UL23
US TREASURY N/B 0.625 08/15/20160.92%9,045,768.25US912828VR83
Fannie Mae 3.5 07/15/20410.91%8,936,017.71US01F0326748
Government National Mortgage A 4 07/15/20390.86%8,435,336.46US01N0406783
US TREASURY N/B 2.5 05/15/20240.83%8,191,451.09US912828WJ58
US TREASURY N/B 2.75 02/15/20240.80%7,885,578.24US912828B667
US TREASURY N/B 0.625 04/30/20180.79%7,736,430.02US912828UZ19
US TREASURY N/B 0.625 02/15/20170.72%7,127,017.14US912828B741
US TREASURY N/B 1.5 12/31/20180.69%6,765,602.73US912828A750
US TREASURY N/B 1.625 06/30/20190.67%6,560,308.98US912828WS57
Download All Holdings XLS

Index Top Holdings

As of 07/02/2015
NameWeight
Federal National Mortgage Association 3 05/01/20420.91%
Federal National Mortgage Association 3.5 12/01/20410.90%
Federal National Mortgage Association 3 12/01/20420.81%
Federal National Mortgage Association 4 05/01/20440.69%
Government National Mortgage Association 3.5 03/01/20420.65%
Government National Mortgage Association 3.5 07/01/20440.56%
Federal National Mortgage Association 3.5 02/01/20430.54%
Government National Mortgage Association 4 04/01/20440.53%
Federal National Mortgage Association 3.5 08/01/20440.51%
Federal National Mortgage Association 4 06/01/20430.51%

Fund Sector Allocation

As of 07/02/2015
<?xml version="1.0" encoding="UTF-8" standalone="yes"?><component><asOfDate>07/02/2015</asOfDate><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>36.122444</rawValue><value>36.12%</value><label>Treasury</label><order>1</order></attribute><attribute><rawValue>27.463454</rawValue><value>27.46%</value><label>Mortgage Backed Securities</label><order>2</order></attribute><attribute><rawValue>14.502928</rawValue><value>14.50%</value><label>Corporate - Industrial</label><order>3</order></attribute><attribute><rawValue>7.748165</rawValue><value>7.75%</value><label>Corporate - Finance</label><order>4</order></attribute><attribute><rawValue>5.805359</rawValue><value>5.81%</value><label>Non Corporates</label><order>5</order></attribute><attribute><rawValue>3.168974</rawValue><value>3.17%</value><label>Agency</label><order>6</order></attribute><attribute><rawValue>1.916005</rawValue><value>1.92%</value><label>CMBS</label><order>7</order></attribute><attribute><rawValue>1.821463</rawValue><value>1.82%</value><label>Corporate - Utility</label><order>8</order></attribute><attribute><rawValue>0.865615</rawValue><value>0.87%</value><label>Cash</label><order>9</order></attribute><attribute><rawValue>0.585594</rawValue><value>0.59%</value><label>Asset Backed Securities</label><order>10</order></attribute></attributes></component>

Index Sector Allocation

As of 07/02/2015
<?xml version="1.0" encoding="UTF-8" standalone="yes"?><component><asOfDate>07/02/2015</asOfDate><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>36.150418</rawValue><value>36.15%</value><label>Treasury</label><order>1</order></attribute><attribute><rawValue>28.144442</rawValue><value>28.14%</value><label>Mortgage Backed Securities</label><order>2</order></attribute><attribute><rawValue>14.411342</rawValue><value>14.41%</value><label>Corporate - Industrial</label><order>3</order></attribute><attribute><rawValue>7.715533</rawValue><value>7.72%</value><label>Corporate - Finance</label><order>4</order></attribute><attribute><rawValue>6.103853</rawValue><value>6.10%</value><label>Non Corporates</label><order>5</order></attribute><attribute><rawValue>3.200352</rawValue><value>3.20%</value><label>Agency</label><order>6</order></attribute><attribute><rawValue>1.9407</rawValue><value>1.94%</value><label>CMBS</label><order>7</order></attribute><attribute><rawValue>1.756829</rawValue><value>1.76%</value><label>Corporate - Utility</label><order>8</order></attribute><attribute><rawValue>0.57653</rawValue><value>0.58%</value><label>Asset Backed Securities</label><order>9</order></attribute><attribute><rawValue>1.0E-6</rawValue><value>0.00%</value><label>Other</label><order>10</order></attribute></attributes></component>

Fund Quality Breakdown

Quality Breakdown

Barclays uses the "middle rating" of Moody's, S&P, and Fitch to determine a security's index classification. If only two of the agencies rate a security, then the most conservative (lowest) rating will be used. If only one rating agency rates a security, that one rating will be used. Where there are no security level ratings, an issuer rating may be used to determine index classification.  Barclays Index breakdowns are grouped into larger categories.  For example, AAA+ and AAA are listed as Aaa; AA1, AA2, and AA3 are listed as Aa, etc.

As of 07/02/2015
Aaa71.50%
Aa4.06%
A11.32%
Baa13.12%

Index Quality Breakdown

Quality Breakdown

Barclays uses the "middle rating" of Moody's, S&P, and Fitch to determine a security's index classification. If only two of the agencies rate a security, then the most conservative (lowest) rating will be used. If only one rating agency rates a security, that one rating will be used. Where there are no security level ratings, an issuer rating may be used to determine index classification.  Barclays Index breakdowns are grouped into larger categories.  For example, AAA+ and AAA are listed as Aaa; AA1, AA2, and AA3 are listed as Aa, etc.

As of 07/02/2015
Aaa71.37%
Aa4.44%
A11.50%
Baa12.70%

Fund Maturity Ladder

As of 07/02/2015
0 - 1 Year0.87%
1 - 2 Years13.37%
2 - 3 Years9.83%
3 - 5 Years18.30%
5 - 7 Years17.04%
7 - 10 Years23.75%
10 - 15 Years4.54%
15 - 20 Years1.58%
20 - 30 Years10.09%
> 30 Years0.61%

Index Maturity Ladder

As of 07/02/2015
1 - 2 Years13.44%
2 - 3 Years10.57%
3 - 5 Years19.94%
5 - 7 Years18.55%
7 - 10 Years22.60%
10 - 15 Years2.53%
15 - 20 Years1.60%
20 - 30 Years10.17%
> 30 Years0.60%

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Barclays is a trademark of Barclays, the investment banking division of Barclays Bank PLC ("Barclays") and has been licensed for use in connection with the listing and trading of the SPDR Barclays ETFs. The products are not sponsored by, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of investing in them.

Unless otherwise noted all information contained herein is that of the SPDR Barclays Aggregate Bond ETF.

As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

Fixed Income, Currency & Cash Investments Team

Portfolio Manager Peter R. Breault Principal Show Bio

Peter R Breault, CFA is a Principal of SSGA and a Portfolio Manager in the firm's Fixed Income Group. He joined the Adviser in 2012.

Prior to joining State Street, Mr. Breault worked at Wellington Management Company as a Fixed Income Portfolio Analyst in their US Fixed Income Broad Sector team.

Mr. Breault graduated from the University of Massachusetts at Dartmouth with a BA degree in Finance and received his Masters in Finance from Northeastern University. He has earned the Chartered Financial Analyst designation and is a member of the CFA Institute and Boston Security Analysts Society.

Senior Portfolio Manager Marc DiCosimo Vice President Show Bio

Marc DiCosimo, CFA is a Vice President of SSGA and a Senior Portfolio Manager in the Fixed Income Group. He joined SSGA in 2013.

Prior to joining SSGA, Mr. DiCosimo worked at Wellington Management as a Fixed Income Portfolio Analyst on the Mortgage Backed Securities team. Mr. DiCosimo has 15 years of fixed income experience working at Loomis Sayles and Saxon Mortgage Capital.

Mr. DiCosimo graduated from The University of Richmond with a degree in accounting. He is a Chartered Financial Analyst and is a member of the CFA Institute and Boston Securities Analysts Society.

Portfolio Manager Michael Przygoda Principal Show Bio

Michael is a Principal at SSGA and a Portfolio Manager in the Fixed Income Beta Solutions team, managing agency and aggregate bond strategies.

Prior to joining the portfolio management team, he worked in the Government Solutions team as a mortgage-backed securities trader and portfolio analyst.

Michael received his BA in Finance from Stonehill College and his MS in Finance from Suffolk University. He has earned the Chartered Financial Analyst designation and is a member of both the Boston Security Analysts' Society and the CFA Institute.

After Tax Returns

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shres through tad deferred arrangements such as 401(k) plans or individual retiredment accounts. After tax returns may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.

Barclays U.S. Aggregate Index

The Barclays U.S. Aggregate Index provides a measure of the performance of the U.S. dollar denominated investment grade bond market, which includes investment grade (must be Baa3/BBB- or higher using the middle rating of Moody's Investor Service, Inc., Standard & Poor's, and Fitch Inc.) government bonds, investment grade corporate bonds, mortgage pass through securities, commercial mortgage backed securities and asset backed securities that are publicly for sale in the United States. The securities in the U.S. Aggregate Index must have at least 1 year remaining to maturity and must have $250 million or more of outstanding face value. Asset backed securities must have a minimum deal size of $500 million and a minimum tranche size of $25 million. For commercial mortgage backed securities, the original aggregate transaction must have a minimum deal size of $500 million, and a minimum tranche size of $25 million; the aggregate outstanding transaction sizes must be at least $300 million to remain in the index. In addition, the securities must be U.S. dollar denominated, fixed rate, non convertible, and taxable. Certain types of securities, such as flower bonds, TINs, and state and local government series bonds are excluded from the U.S. Aggregate Index. Also excluded from the U.S. Aggregate Index are structured notes with embedded swaps or other special features, private placements, floating rate securities and Eurobonds. The U.S. Aggregate Index is market capitalization weighted and the securities in the Index are updated on the last business day of each month.

© 2015 State Street Corporation. All Rights Reserved.

© 2015 State Street Corporation. All Rights Reserved.

© 2015 State Street Corporation. All Rights Reserved.

Important Risk Information

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; issuer credit risk; liquidity risk; and inflation risk.

The Fund invests by sampling the Index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics which may cause the fund to experience tracking errors relative to performance of the Index.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Premium Discount to NAV

As of 07/01/2015
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
SPDR® Barclays Aggregate Bond ETF LAG $57.16 $57.18 $57.17 0.02%
Download Fund Data

x axis: # of days y axis: # Premium/Discount percentage

The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.