SPDR Portfolio Long Term Corporate Bond ETF (SPLB)
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SPLB: Don't Bet On The World's Structure 20 Years Out
Demographics (outside of immigration considerations) aren't a direct concern for US productivity and therefore long-term benchmark rates. But it has been suggested the demographic effects in portfolio allocation may see a net retail divestment from long-term fixed income as the soon-to-retire sell long-dated bonds. We see more risks in the ability for the US to maintain its USD reserve currency status over significant horizons of the long-dated SPLB, at 20+ years.
SPLB: The Worst Of Both Worlds From A Macro Stand-Point
SPLB offers diversified exposure to long-term US corporate bonds, with a focus on A and BBB credits and a 12.5-year duration. Current BBB spreads are near historic lows, limiting upside potential and increasing downside risk if spreads widen or rates rise. The fund's performance relies heavily on long-term interest rates and credit spreads, both of which present unfavorable risk/reward at present.
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) FAQ
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SPDR Portfolio Long Term Corporate Bond ETF Profile
| ARCA Exchange | US Country |
Overview
This company specializes in investment management with a focus on long-term U.S. corporate bonds. By investing primarily in securities that are part of a designated index or those with closely related economic characteristics, the firm aims to mimic the index's performance. The index itself is curated to track the performance of U.S. corporate bonds with a maturity of ten years or more, offering investors a targeted approach to bond investment with a specific focus on long-term maturity.
Products and Services
- Index-Based Investment Funds:
The core offering includes investment funds that are dedicated to replicating the performance of a specific index. These funds invest at least 80% of their total assets in securities making up the index and in other securities deemed by the Adviser to have economic characteristics similar to those of the securities within the index. This strategy is designed for investors looking for exposure to the performance of long-term U.S. corporate bonds.
- Long-Term Corporate Bond Investments:
Targeting U.S. corporate bonds with maturities of ten years or more, this service is tailored for investors seeking long-term investment opportunities. By focusing on bonds with longer maturities, the company aims to provide investment products that offer potential for significant returns over an extended period, aligning with investors' long-term financial goals.
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