BWZ Fees and Costs — SPDR(R) Bloomberg Short Term International Treasury Bond ETF
Data updated: 2026-08-28
The net expense ratio is 0.35%. There are no sales loads or redemption fees. Portfolio turnover was 85%.
BWZ Fees and Expenses
Annual operating expenses and sales charges of BWZ. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BWZ Costs Over Time
On $10,000 invested in BWZ, assuming 5% a year before costs, total costs come to $222 over 5 years, cutting the return by 0.37% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.35%) | $37 | $115 | $202 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $121 | $222 |
| Value after costs | $10,463 | $11,455 | $12,541 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
BWZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.0B
- Portfolio turnover (prospectus): 85%
- Securities on loan, average value: $79K
- Net income from securities lending: $250 (0.000% of average net assets)
BWZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $558.2M | 66.40% |
| Nomura Securities International, Inc. | $63.0M | 7.50% |
| HSBC Securities (USA) Inc. | $40.6M | 4.83% |
| Deutsche Bank Securities Inc. | $37.1M | 4.41% |
| BNP Paribas Securities Corp. | $32.9M | 3.92% |
| J.P. Morgan Securities LLC | $26.1M | 3.11% |
| Citigroup Global Markets Inc. | $22.8M | 2.71% |
| Goldman Sachs & Co. LLC | $21.1M | 2.51% |
| BofA Securities, Inc. | $20.4M | 2.43% |
| Mizuho Securities USA LLC | $18.5M | 2.20% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.