State Street(R) SPDR Nuveen ICE High Yield Municipal Bond ETF
U.S. bond index ETF · tracks ICE US Select High Yield Crossover Municipal Index
As of its 2026 Q2 report, State Street(R) SPDR Nuveen ICE High Yield Municipal Bond ETF held 1,870 positions with $3.09B in net assets. Its ten largest holdings made up 9.1% of the fund. The HYMB share class costs 0.35% a year. Over the 12 months to May 2026, HYMB returned 7.0%, with dividends reinvested. In 2026 Q2 it added 100 new positions and exited 34.
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.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 5.00% · due 2058-07-01 | 2.48% | $76.83M | — |
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 4.78% · due 2058-07-01 | 1.52% | $46.86M | — |
Buckeye Tobacco Settlement Financing Authority 5.00% · due 2055-06-01 | 1.25% | $38.61M | — |
GVMXXState Street Global Advisors | 0.85% | $26.37M | — |
Commonwealth of Puerto Rico 4.00% · due 2041-07-01 | 0.63% | $19.58M | — |
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 4.75% · due 2053-07-01 | 0.61% | $19.00M | — |
Commonwealth of Puerto Rico 4.00% · due 2046-07-01 | 0.54% | $16.59M | — |
New York Liberty Development Corp 5.00% · due 2044-11-15 | 0.46% | $14.31M | — |
Metropolitan Pier & Exposition Authority 4.00% · due 2042-12-15 | 0.43% | $13.16M | — |
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 4.33% · due 2040-07-01 | 0.36% | $11.06M | — |
The 200 largest of 1,870 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.30% |
| Cash & short-term | 0.85% |
| Derivatives | 0.01% |
Derivatives are shown at market value, not notional exposure.
How it has done
HYMB share class · total returns with dividends reinvested
Volatility over the last 12 months: 4.62%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
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
- Expense ratio, by class
- 0.35%· HYMB 0.35%
- Portfolio turnover
- 10.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
100 new· the largest 8
34 exited· the largest 7
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.
Understand how this fund fits with the rest.
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