TFI Fees and Costs — State Street(R) SPDR Nuveen ICE Municipal Bond ETF
Data updated: 2026-09-11
The net expense ratio is 0.23%. There are no sales loads or redemption fees. Portfolio turnover was 16%.
TFI Fees and Expenses
Annual operating expenses and sales charges of TFI. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.23% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.23% |
| Fee waiver | — |
| Net expense ratio | 0.23% |
| 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 |
TFI Costs Over Time
On $10,000 invested in TFI, assuming 5% a year before costs, total costs come to $146 over 5 years, cutting the return by 0.24% 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 0.23%) | $24 | $76 | $133 |
| Lost growth on money paid in costs | $0 | $4 | $13 |
| Total costs | $24 | $80 | $146 |
| Value after costs | $10,476 | $11,497 | $12,617 |
| Impact on return, per year | 0.24% | 0.24% | 0.24% |
TFI 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): $4.1B
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
TFI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.6B | 43.64% |
| J.P. Morgan Securities LLC | $722.5M | 19.43% |
| Shank Williams Cisneros, LLC | $490.1M | 13.18% |
| BofA Securities, Inc. | $202.8M | 5.45% |
| Wells Fargo Securities, LLC | $180.8M | 4.86% |
| Morgan Stanley & Co. LLC | $125.8M | 3.38% |
| RBC Capital Markets, LLC | $108.8M | 2.93% |
| Goldman Sachs & Co. LLC | $98.5M | 2.65% |
| BNY Capital Markets, LLC | $94.4M | 2.54% |
| Jefferies LLC | $72.3M | 1.95% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.