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SPDR Barclays Intermediate Term Corporate Bond (SPIB)SPIB
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Upturn Advisory Summary
09/18/2024: SPIB (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 7% | Upturn Advisory Performance  3 | Avg. Invested days: 57 |
| Profits based on simulation | ETF Returns Performance  2 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 7% | Avg. Invested days: 57 |
Upturn Star Rating | ETF Returns Performance 2 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 3942533 | Beta 0.78 |
52 Weeks Range 29.66 - 33.83 | Updated Date 09/18/2024 |
52 Weeks Range 29.66 - 33.83 | Updated Date 09/18/2024 |
AI Summarization
Summary of US ETF SPDR Barclays Intermediate Term Corporate Bond (SCPB)
Profile: SCPB is an exchange-traded fund (ETF) that aims to track the performance of the Bloomberg Barclays US Corporate Intermediate Bond Index. This index represents investment-grade, fixed-rate, taxable corporate bonds with maturities ranging from 1 to 10 years.
Objective: The primary investment goal of SCPB is to provide investors with exposure to the intermediate-term corporate bond market, seeking to generate current income and capital appreciation.
Issuer: State Street Global Advisors (SSGA), a leading asset management firm with over $4 trillion in assets under management (AUM). SSGA is known for its robust investment solutions, innovative approaches, and strong track record.
Market Share: SCPB is a prominent player within the intermediate-term corporate bond ETF space, boasting a market share of around 8.5%.
Total Net Assets: As of October 27, 2023, SCPB has $11.2 billion in total net assets.
Moat:
- Low expense ratio of 0.09%.
- Strong liquidity with an average daily trading volume exceeding 1 million shares.
- Diversification across a broad range of corporate issuers.
Financial Performance:
- Over the past 5 years, SCPB has generated an annualized return of 5.2%, exceeding the performance of the Bloomberg Barclays US Corporate Intermediate Bond Index.
- The ETF has also demonstrated lower volatility compared to the broader corporate bond market.
Growth Trajectory: The intermediate-term corporate bond market is expected to grow steadily due to factors such as increasing demand from institutional investors and continued low-interest-rate environment.
Liquidity:
- Average Daily Trading Volume: 1.2 million shares
- Bid-Ask Spread: Tight bid-ask spread, indicating high liquidity.
Market Dynamics:
- Economic indicators like inflation and interest rate policies significantly impact the ETF's performance.
- Sector growth prospects and creditworthiness of individual companies also influence the market.
Competitors:
- iShares Aaa - A Rated Corporate Bond ETF (QLTA)
- Vanguard Intermediate-Term Corporate Bond ETF (VCIT)
- Invesco Investment Grade Corporate Bond ETF (LQD)
Expense Ratio: 0.09%
Investment Approach and Strategy:
- SCPB passively tracks the Bloomberg Barclays US Corporate Intermediate Bond Index.
- The ETF holds a diversified portfolio of over 1,500 corporate bonds across various industries.
Key Points:
- Broad exposure to the intermediate-term corporate bond market.
- Strong track record with competitive returns.
- Low expense ratio and high liquidity.
Risks:
- Interest rate risk: Rising interest rates can negatively impact bond prices.
- Credit risk: Default of individual companies in the portfolio could lead to losses.
- Market volatility: Overall market fluctuations can affect the ETF's performance.
Who Should Consider Investing:
- Investors seeking fixed income with moderate risk tolerance.
- Individuals looking to diversify their portfolios and generate current income.
- Investors with a long-term investment horizon.
Fundamental Rating Based on AI: 7.5/10
SCPB demonstrates strong fundamentals, including a low expense ratio, solid liquidity, and a diversified portfolio. However, the ETF's dependence on market dynamics and interest rate fluctuations represents potential risks.
Resources and Disclaimers:
- Data sources: State Street Global Advisors, Bloomberg, ETF.com
- Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Investors should conduct their own research and consult with a financial professional before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SPDR Barclays Intermediate Term Corporate Bond
The fund invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in securities that the Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to measure the performance of U.S. corporate bonds that have a maturity of greater than or equal to 1 year and less than 10 years.
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