Symbols

FLRN

State Street SPDR Bloomberg Investment Grade Floating Rate ETF·NYSE

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Key Stats

Assets Under Management

2.75BUSD

Fund Flows (1Y)

178.65MUSD

Dividend Yield

5.15%

Discount/Premium to NAV

0.05%

Shares Outstanding

89.30M

Expense Ratio

0.15%

About State Street SPDR Bloomberg Investment Grade Floating Rate ETF

Issuer

State Street Global Advisors

Brand

SPDR

Home Page

https://www.ssga.com/us/en/intermediary/etfs/state-street-spdr-bloomberg-investment-grade-floating-rate-etf-flrn

Inception Date

Nov 30, 2011

Structure

Open-Ended Fund

Index Tracked

Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

SSgA Funds Management, Inc.

Distributor

State Street Corp. (Fund Distributor)

FLRN provides solid exposure to broad investment-grade floating-rate notes. FLRN holds floating-rate notes that mature in five years or less, a majority of which are based on the 3-month LIBOR, with a fixed spread. As would be expected from a portfolio of floating-rate notes, the fund has minimal exposure to interest-rate move. FLRN excludes bonds with equity-linked features, such as warrants and convertibles, as well as inflation-linked bonds and securitized bonds. The market-value-weighted index is rebalanced monthly. FLRN is subject to LIBOR risk, this benchmark rate is intended to be phased out by the end of 2021 and there remains uncertainty regarding the LIBOR and the nature of any replacement rate.