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SPDR Portfolio Mortgage Backed Bond (SPMB)
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Upturn Advisory Summary
12/19/2024: SPMB (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type: ETF | Upturn Star Rating | Today’s Advisory: WEAK BUY |
Historic Profit: 1.77% | Upturn Advisory Performance  3 | Avg. Invested days: 47 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 12/19/2024 |
Type: ETF | Today’s Advisory: WEAK BUY |
Historic Profit: 1.77% | Avg. Invested days: 47 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 12/19/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 1066233 | Beta 1.11 |
52 Weeks Range 20.33 - 22.45 | Updated Date 12/21/2024 |
52 Weeks Range 20.33 - 22.45 | Updated Date 12/21/2024 |
AI Summarization
ETF SPDR Portfolio Mortgage Backed Bond (MBB) Overview:
Profile:
- Target Sector: U.S. Mortgage-Backed Securities (MBS)
- Asset Allocation: 99.47% MBS, 0.53% Other
- Investment Strategy: Passively tracks the Bloomberg Barclays U.S. Mortgage Backed Securities (MBS) Index. It invests in agency mortgage-backed pass-through securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae.
Objective:
- Investment Goal: Provides investors with exposure to the U.S. mortgage-backed securities market, aiming to track the performance of the benchmark index.
Issuer:
- State Street Global Advisors (SSGA):
- Reputation: One of the world's largest asset managers with a strong reputation for innovation and reliability.
- Management: Experienced team with expertise in managing fixed income ETFs.
- Market Share: MBB is the largest mortgage-backed securities ETF, with a market share of approximately 35%.
Market Share:
- 35% of the U.S. mortgage-backed securities ETF market.
Total Net Assets:
- $47.78 billion as of November 7, 2023.
Moat:
- First-mover advantage: MBB was the first U.S. mortgage-backed securities ETF, establishing a strong brand recognition and attracting significant assets.
- Scale and liquidity: MBB's large size provides significant liquidity, making it easier for investors to buy and sell shares.
- Low expense ratio: MBB has an expense ratio of 0.05%, which is lower than most of its competitors.
Financial Performance:
- Historical Performance: MBB has delivered strong historical returns, outperforming the Bloomberg Barclays U.S. MBS Index in most periods.
- Benchmark Comparison: MBB consistently outperforms its benchmark index, demonstrating its ability to track the market effectively.
Growth Trajectory:
- The mortgage-backed securities market is expected to continue growing in the coming years, driven by increasing demand for mortgages. This should benefit MBB's growth trajectory.
Liquidity:
- Average Trading Volume: High average daily trading volume of over 3 million shares.
- Bid-Ask Spread: Tight bid-ask spread, indicating low trading costs.
Market Dynamics:
- Economic Indicators: Interest rate fluctuations, economic growth, and housing market performance significantly impact MBB's performance.
- Sector Growth Prospects: The mortgage-backed securities market is expected to grow steadily, driven by rising housing demand.
- Current Market Conditions: Current market conditions, such as inflation and interest rate hikes, can significantly impact MBB's performance.
Competitors:
- iShares MBS ETF (MBG): Market share of 25%
- VanEck Mortgage Backed Securities ETF (VMBS): Market share of 15%
Expense Ratio:
- 0.05%
Investment Approach and Strategy:
- Strategy: Passively tracks the Bloomberg Barclays U.S. MBS Index.
- Composition: Invests in agency mortgage-backed pass-through securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae.
Key Points:
- Largest and most liquid mortgage-backed securities ETF.
- Strong historical performance and low expense ratio.
- Provides exposure to the growing U.S. mortgage market.
Risks:
- Volatility: Mortgage-backed securities are sensitive to interest rate changes, leading to potential price fluctuations.
- Market Risk: The value of MBB can be impacted by changes in the U.S. housing market and economic conditions.
Who Should Consider Investing:
- Investors seeking exposure to the U.S. mortgage-backed securities market.
- Investors looking for a low-cost, passively managed ETF.
- Investors with a long-term investment horizon.
Fundamental Rating Based on AI:
- 8/10. MBB demonstrates strong fundamentals, including a solid track record, competitive advantages, and growth potential. However, investors should be aware of the inherent risks associated with mortgage-backed securities.
Resources and Disclaimers:
- State Street Global Advisors: https://www.ssga.com/us/en/individual/etfs/etf-spdr-portfolio-mortgage-backed-bond-etf
- Bloomberg: https://www.bloomberg.com/quote/MBB:US
- Morningstar: https://www.morningstar.com/etfs/arcx/mbb
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Please 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 Portfolio Mortgage Backed Bond
The fund generally 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 the U.S. agency mortgage pass-through segment of the U.S. investment grade bond market.
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