State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
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- SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is an exchange-traded fund that seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Bloomberg 3-10 Year U.S. Treasury Index. The fund invests substantially all of its assets in the securities comprising the index or in securities that have economic characteristics substantially identical to the securities included in the index, focusing on U.S. Treasury securities with remaining maturities between 3 and 10 years; these holdings primarily consist of investment-grade fixed-rate Treasury notes, such as United States Treasury Notes 4.625%, 4.375%, 4.25%, 3.875%, and 4.5%, with top holdings representing approximately 10% of the portfolio and a total of around 112 holdings as of late 2025. Launched on May 23, 2007, and domiciled in the United States, SPTI is issued and managed by State Street Global Advisors (SSGA), a business unit of State Street Corporation headquartered in Boston, Massachusetts, with an ultralow gross expense ratio of 0.03% and primary operations targeting U.S. institutional and retail investors seeking intermediate-term government bond exposure. The ETF provides diversified exposure to the intermediate-term U.S. Treasury market, characterized by an option-adjusted duration of approximately 4.93 years, high credit quality (nearly 100% Aa-rated), and monthly dividend distributions yielding around 3.75-3.83% trailing twelve months as of late 2025. Its portfolio is market capitalization-weighted and rebalanced monthly, excluding inflation-protected securities (TIPS), floating-rate notes, and stripped coupons, while emphasizing liquidity with minimum outstanding face values of $300 million per security. SPTI serves as a low-cost core fixed-income building block for portfolios, offering moderate interest rate sensitivity compared to longer-duration Treasury vehicles. Key historical changes include a name change from SPDR Bloomberg Barclays Intermediate Term Treasury ETF to its current branding and a ticker symbol shift from ITE to SPTI on September 23, 2019; an index transition from the Bloomberg Barclays Intermediate U.S. Treasury Index to the Bloomberg 3-10 Year U.S. Treasury Index (formerly Bloomberg Barclays 3-10 Year U.S. Treasury Index until August 24, 2021) effective April 30, 2018. The fund has maintained steady operations without major recent acquisitions, funding rounds, or strategic shifts specific to SPTI, though its issuer SSGA announced a collaboration with S&P Dow Jones Indices in June 2025 to launch the SPDR S&P Vision Fund Range targeting growth sectors in Europe, the Middle East, and Asia. As of September 2025, SPTI manages approximately $9.24 billion in assets under management, reflecting robust demand amid ongoing interest rate dynamics.