State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF
Global bond index ETF · tracks Bloomberg U.S. Dollar Floating Rate Note ≤ 5 Years Index
As of its 2026 Q2 report, State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF held 539 positions with $2.97B in net assets. Its ten largest holdings made up 9.9% of the fund. The FLRN share class costs 0.15% a year. Over the 12 months to May 2026, FLRN returned 4.9%, with dividends reinvested. In 2026 Q2 it added 54 new positions and exited 36.
The State Street SPDR Bloomberg Investment Grade Floating Rate 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 market for U.S. dollar-denominated, investment grade floating rate notes with maturities greater than or equal to one month and less than five years.
The fund tracks the Bloomberg U.S. Dollar Floating Rate Note ≤5 Years Index using a sampling strategy, holding a subset of investment-grade floating-rate notes maturing between one month and five years. Because the fund samples rather than holds all index constituents, its performance may diverge from the index. The fund concentrates its holdings in whatever industries dominate the index, which as of the filing date were financial and industrial sectors.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
GVMXXState Street Global Advisors | 2.57% | $76.12M | — |
EUROPEAN BK RECON & DEV 3.99% floating · due 2028-02-20 | 1.20% | $35.55M | — |
INTL BK RECON & DEVELOP 4.09% floating · due 2027-08-19 | 0.90% | $26.70M | — |
EUROPEAN BK RECON & DEV 3.96% floating · due 2029-02-16 | 0.83% | $24.58M | — |
INTL BK RECON & DEVELOP 4.02% floating · due 2027-01-12 | 0.83% | $24.53M | — |
EUROPEAN BK RECON & DEV 4.07% floating · due 2030-07-22 | 0.78% | $23.03M | — |
INTL FINANCE CORP 3.97% floating · due 2028-08-28 | 0.70% | $20.80M | — |
INTL BK RECON & DEVELOP 3.96% floating · due 2026-09-23 | 0.70% | $20.71M | — |
KOMMUNALBANKEN AS 4.06% floating · due 2029-04-09 | 0.69% | $20.47M | — |
INTER-AMERICAN DEVEL BK 4.04% floating · due 2030-03-13 | 0.67% | $19.73M | — |
The 200 largest of 539 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 | 99.02% |
| Cash & short-term | 2.57% |
By sector
- International
- 26.4%
- Government
- 24.9%
- Financials
- 22.7%
- Other
- 17.8%
- 8 other sectors
- 8.2%
- International
- 26.4%
- Government
- 24.9%
- Financials
- 22.7%
- Other
- 17.8%
- Cash
- 2.5%
- Health Care
- 2.2%
- Consumer Discretionary
- 0.9%
- Consumer Staples
- 0.8%
- Utilities
- 0.7%
- Information Technology
- 0.6%
- Communication Services
- 0.3%
- Industrials
- 0.1%
How it has done
FLRN share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.27%. 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(R) Bloomberg Investment Grade Floating Rate ETF is a global bond index ETF that tracks the Bloomberg U.S. Dollar Floating Rate Note ≤ 5 Years Index.
- Asset class
- Bonds
- Region
- Global
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.15%· FLRN 0.15%
- Portfolio turnover
- 42.00% 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.
54 new· the largest 8
36 exited· the largest 8
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.
| Floating rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 21.1% |
| 1-3y | 60.6% |
| 3-5y | 18.0% |
| 5-10y | 0.3% |
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 | 100% |
| Interest rates | 0% |
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 | +1.40 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 | 0.00 yr | 20% |
| 1 yr | 0.00 yr | 52% |
| 5 yr | 0.00 yr | 28% |
| 10 yr | 0.00 yr | 0% |
| 3 mo | 0.08 yr | 6% |
| 1 yr | 0.77 yr | 55% |
| 5 yr | 0.56 yr | 40% |
| 10 yr | 0.00 yr | 0% |
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 | +0.00 | +0.08 | +0.00 | $23.1k | $0 |
| 1 yr | +0.00 | +0.77 | +0.00 | $227.7k | $0 |
| 5 yr | +0.00 | +0.56 | +0.00 | $164.9k | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $84 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
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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