State Street(R) SPDR Nuveen ICE High Yield Municipal Bond ETF
SPDR SERIES TRUST · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
State Street(R) SPDR Nuveen ICE High Yield Municipal Bond ETF is a U.S. bond index ETF that tracks the ICE US Select High Yield Crossover Municipal Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q4
The State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the U.S. high yield municipal bond market and to provide income that is exempt from federal income taxes.
The fund tracks the ICE US Select High Yield Crossover Municipal Index, a blend of high-yield unrated, BBB-rated, and single-A municipal bonds, using a sampling strategy in which Nuveen Asset Management selects a subset of index securities to replicate its risk and return characteristics. Because the fund employs sampling rather than holding all index constituents, its performance may diverge from the index. The fund maintains at least 80% of net assets in federal tax-exempt municipal debt and invests substantially all assets in index securities or economically identical substitutes.
| Share class | Expense ratio |
|---|---|
| HYMB | 0.35% |
Portfolio turnover 10.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 98.30% |
| Cash & short-term | 0.85% |
| Derivatives | 0.01% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Dawson Trails Metropolitan District No 1, Minnesota Municipal Gas Agency, Guam Government Waterworks Authority, California Community Choice Financing Authority, Arkansas Development Finance Authority, Colorado Educational & Cultural Facilities Authority, South Jersey Transportation Authority, City of Houston TX Airport System Revenue
Largest exited: Arkansas Development Finance Authority ×2, Dawson Trails Metropolitan District No 1, Colorado Health Facilities Authority, Berthoud-Heritage Metropolitan District No 1, Florida Development Finance Corp, Sarasota County Public Hospital District, Lancaster Municipal Authority
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 89.8% |
| Floating rate | 5.5% |
| Zero-coupon or unclassified | 4.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.2% |
| 1-3y | 1.0% |
| 3-5y | 2.1% |
| 5-10y | 11.3% |
| 10y+ | 85.4% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 51% |
| Interest rates | 49% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +4.85 yr |
| Investment grade | +1.98 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 0% |
| 1 yr | 0.41 yr | 6% |
| 5 yr | 1.51 yr | 23% |
| 10 yr | 2.97 yr | 45% |
| 30 yr | 1.71 yr | 26% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.44 yr | 6% |
| 5 yr | 1.57 yr | 23% |
| 10 yr | 3.15 yr | 46% |
| 30 yr | 1.65 yr | 24% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.01 | +0.02 | $1.9k | $4.8k |
| 1 yr | +0.41 | +0.13 | +0.31 | $39.8k | $95.5k |
| 5 yr | +1.51 | +0.52 | +1.05 | $160.1k | $324.5k |
| 10 yr | +2.97 | +0.97 | +2.18 | $301.3k | $673.0k |
| 30 yr | +1.71 | +0.35 | +1.30 | $107.9k | $403.1k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue5.00% · due 2058-07-01 | 2.48% | $76.83M | — |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue4.78% · due 2058-07-01 | 1.52% | $46.86M | — |
| — | Buckeye Tobacco Settlement Financing Authority5.00% · due 2055-06-01 | 1.25% | $38.61M | — |
| GVMXX | State Street Global AdvisorsGVMXX | 0.85% | $26.37M | — |
| — | Commonwealth of Puerto Rico4.00% · due 2041-07-01 | 0.63% | $19.58M | — |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue4.75% · due 2053-07-01 | 0.61% | $19.00M | — |
| — | Commonwealth of Puerto Rico4.00% · due 2046-07-01 | 0.54% | $16.59M | — |
| — | New York Liberty Development Corp5.00% · due 2044-11-15 | 0.46% | $14.31M | — |
| — | Metropolitan Pier & Exposition Authority4.00% · due 2042-12-15 | 0.43% | $13.16M | — |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue4.33% · due 2040-07-01 | 0.36% | $11.06M | — |
Top 10 positions are 9.13% of net assets, top 25 13.51%, across 662 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free