State Street(R) SPDR Nuveen ICE 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 Municipal Bond ETF is a U.S. bond index ETF that tracks the ICE 1+ Year AMT-Free Broad Municipal Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q4
The State Street SPDR Nuveen ICE 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. municipal bond market and provides income that is exempt from federal income taxes.
The fund tracks the ICE 1+ Year AMT-Free Broad Municipal Index through a sampling strategy, holding a subset of the index's securities chosen by sub-adviser Nuveen Asset Management to replicate the index's risk and return characteristics. The fund invests at least 80% of assets in index securities or economically identical municipal bonds, focusing on investment-grade tax-exempt debt issued by U.S. states, territories, and local governments. Because the fund samples rather than holds all index constituents, its performance may diverge from the index.
| Share class | Expense ratio |
|---|---|
| TFI | 0.23% |
Portfolio turnover 33.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 99.13% |
| Cash & short-term | 0.14% |
| Securitized | 0.04% |
Latest quarter
What changed since the fund's previous filing
Largest new: University of California, Northwest Independent School District, City of Austin TX Airport System Revenue, City of Reno NV, New York State Dormitory Authority, Rhode Island Turnpike & Bridge Authority, New York City Transitional Finance Authority Future Tax Secured Revenue, Indiana Finance Authority
Largest exited: Black Belt Energy Gas District, State of Ohio, Triborough Bridge & Tunnel Authority, Utah Municipal Power Agency, Pennsylvania Housing Finance Agency, Tamalpais Union High School District, State of Minnesota, State of Washington
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 | 91.4% |
| Floating rate | 7.3% |
| Zero-coupon or unclassified | 1.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.0% |
| 1-3y | 7.5% |
| 3-5y | 6.9% |
| 5-10y | 22.0% |
| 10y+ | 63.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
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.
| Investment grade | +6.26 yr |
| High yield | +0.03 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 | 1% |
| 1 yr | 0.42 yr | 7% |
| 5 yr | 1.78 yr | 30% |
| 10 yr | 2.93 yr | 49% |
| 30 yr | 0.86 yr | 14% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.48 yr | 8% |
| 5 yr | 1.92 yr | 31% |
| 10 yr | 3.06 yr | 49% |
| 30 yr | 0.81 yr | 13% |
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 | +0.02 | +0.00 | $5.0k | $69 |
| 1 yr | +0.42 | +0.47 | +0.00 | $148.2k | $925 |
| 5 yr | +1.78 | +1.91 | +0.01 | $596.6k | $2.3k |
| 10 yr | +2.93 | +3.05 | +0.01 | $951.8k | $4.2k |
| 30 yr | +0.86 | +0.81 | +0.01 | $252.8k | $1.6k |
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 |
|---|---|---|---|---|
| — | State of California5.00% · due 2027-11-01 | 0.23% | $7.03M | — |
| — | City of New York NY5.00% · due 2031-08-01 | 0.22% | $6.75M | — |
| — | New York City Municipal Water Finance Authority4.13% · due 2047-06-15 | 0.20% | $6.32M | — |
| — | University of California5.50% · due 2040-05-15 | 0.20% | $6.24M | — |
| — | State of Washington5.00% · due 2028-02-01 | 0.20% | $6.24M | — |
| — | Triborough Bridge & Tunnel Authority5.00% · due 2028-11-15 | 0.20% | $6.17M | — |
| — | City of Madison WI4.00% · due 2032-10-01 | 0.20% | $6.13M | — |
| — | State of Georgia5.00% · due 2030-07-01 | 0.20% | $6.08M | — |
| — | State of Maryland5.00% · due 2034-06-01 | 0.19% | $6.06M | — |
| — | State of Maryland Department of Transportation2.00% · due 2034-10-01 | 0.19% | $6.00M | — |
Top 10 positions are 2.02% of net assets, top 25 4.57%, across 787 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.
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