MBND Fees and Costs — State Street(R) Nuveen Municipal Bond ETF
Data updated: 2026-09-11
The net expense ratio is 0.40%. There are no sales loads or redemption fees. Portfolio turnover was 55%.
MBND Fees and Expenses
Annual operating expenses and sales charges of MBND. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.40% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| 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 |
MBND Costs Over Time
On $10,000 invested in MBND, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% 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 0.40%) | $42 | $132 | $230 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,510 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
MBND Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $13.9M
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
MBND Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $8.5M | 61.37% |
| Barclays Capital Inc. | $2.3M | 16.41% |
| Morgan Stanley & Co. LLC | $1.8M | 13.13% |
| Wells Fargo Securities, LLC | $664K | 4.82% |
| Shank Williams Cisneros, LLC | $255K | 1.85% |
| Goldman Sachs & Co. LLC | $209K | 1.52% |
| BofA Securities, Inc. | $122K | 0.89% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.