SPHY Fees and Costs — State Street(R) SPDR(R) Portfolio High Yield Bond ETF
Data updated: 2026-09-11
The net expense ratio is 0.05%. There are no sales loads or redemption fees. Portfolio turnover was 52%.
SPHY Fees and Expenses
Annual operating expenses and sales charges of SPHY. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.05% |
| Fee waiver | — |
| Net expense ratio | 0.05% |
| 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 |
SPHY Costs Over Time
On $10,000 invested in SPHY, assuming 5% a year before costs, total costs come to $32 over 5 years, cutting the return by 0.05% 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 0.05%) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $1 | $3 |
| Total costs | $5 | $17 | $32 |
| Value after costs | $10,495 | $11,559 | $12,731 |
| Impact on return, per year | 0.05% | 0.05% | 0.05% |
SPHY 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): $17.2B
- Portfolio turnover (prospectus): 52%
- Securities on loan, average value: $622.2M
- Net income from securities lending: $6.8M (0.068% of average net assets)
SPHY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5.2B | 31.91% |
| State Street Bank and Trust Company | $4.1B | 25.23% |
| Barclays Capital Inc. | $1.5B | 9.01% |
| Jefferies LLC | $1.4B | 8.67% |
| Citigroup Global Markets Inc. | $1.2B | 7.24% |
| Goldman Sachs & Co. LLC | $984.9M | 6.10% |
| BofA Securities, Inc. | $850.1M | 5.27% |
| Morgan Stanley & Co. LLC | $627.3M | 3.89% |
| Wells Fargo Securities, LLC | $232.2M | 1.44% |
| UBS Securities LLC | $200.6M | 1.24% |
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.