SPAB — State Street SPDR Portfolio Aggregate Bond ETF

SPAB Price Performance — Growth of $10,000

Value of a $10,000 investment in SPAB over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SPAB Drawdown

The "underwater" chart: SPAB's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR Portfolio Aggregate Bond ETF, identified by the ticker SPAB, operates within the US Bonds - Broad category managed by State Street Investment Management. This fund tracks a universe of 458 ETFs across all categories, holding an overall rank of #314 with an ETFValuer grade of C and a score of 55.6 out of 100. It carries a low expense ratio of 0.03% while offering a dividend yield of 4.03% to income-seeking investors. With assets under management totaling $9.63 billion and a current price of $25.13, the fund demonstrates significant scale relative to the seven other ETFs tracked in its specific category. The substantial asset base suggests broad investor adoption despite the fund's mid-tier ranking among the broader universe of tracked funds. Its position as the third largest in its specific category aligns with its status as a widely held aggregate bond vehicle. The combination of low costs and high yield supports its role as a core fixed-income holding for many portfolios.

Over the most recent trading day, the fund posted a gain of +0.12%, though this was followed by a weekly decline of -0.71% and a monthly drop of -1.38%. The three-month return of -1.02% and six-month return of -0.59% indicate a period of negative performance that has slightly stabilized in the half-year timeframe. Year-to-date figures show a loss of -0.39%, reflecting a challenging environment for the fund over the current calendar year. In contrast, the one-year return of +3.11% and the three-year return of +11.67% demonstrate a divergence where longer-term horizons have recovered to positive territory despite recent short-term weakness. This pattern suggests that while recent market conditions have pressured the fund, the longer-term trajectory remains positive. The shift from negative short-term returns to positive annual and multi-year figures highlights the volatility inherent in the bond market over different timeframes.

The fund is assigned a Very Low volatility label and maintains a beta of 1.00, indicating that its price movements generally align with the broader market benchmark without amplifying its swings. Despite this low volatility profile, the Sharpe ratio of -0.51 suggests that the risk-adjusted returns have been negative over the measured period. A maximum drawdown of -5.68% represents the largest peak-to-trough decline experienced by the fund, illustrating the extent of potential losses during adverse market conditions. The combination of a beta of 1.00 and a negative Sharpe ratio implies that while the fund moves in step with the market, it has not generated sufficient excess return to compensate for the risk taken. Investors should note that the Very Low volatility classification does not preclude the fund from experiencing drawdowns of nearly 6% during downturns. This data profile characterizes an asset that tracks the market closely but has faced periods where returns did not adequately offset the associated risks.

AI-generated summary based on the data on this page.

SPAB Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 9.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SPAB's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SPAB

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPAB's top 10 — BCI overlaps most, holding 2 of the same companies as SPAB's top 10 (8.9% of SPAB's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPAB Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 15.04% and average daily volume is 2.4M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $9.63B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SPAB is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SPAB Performance History

How SPAB Compares to Other US Bonds - Broad ETFs