SPDR Portfolio Long Term Treasury ETF
SPTL
Market cap $9.8B

27.49 USD

+0.02

0.07%

Updated Oct 22, 10:48 AM EDT

1 day

0.07%

5 days

-2.86%

1 month

-5.92%

3 months

0.11%

6 months

4.21%

Year to date

-4.68%

1 year

10.05%

5 years

-31.29%

0

Funds holding %

of 6,740 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

2,109% more call options, than puts

Call options by funds: $729K | Put options by funds: $33K

82% more repeat investments, than reductions

Existing positions increased: 195 | Existing positions reduced: 107

34% more first-time investments, than exits

New positions opened: 71 | Existing positions closed: 53

5% more funds holding

Funds holding: 381 [Q1] → 399 (+18) [Q2]

2% more capital invested

Capital invested by funds: $8.87B [Q1] → $9.02B (+$154M) [Q2]

1.54% less ownership

Funds ownership: 98.13% [Q1] → 96.59% (-1.54%) [Q2]

4% less funds holding in top 10

Funds holding in top 10: 26 [Q1] → 25 (-1) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for SPTL.

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Financial journalist opinion

Rates Spark: ECB Presser Bear-Flattened The Curve

The ECB cut rates by 25bp as widely anticipated, but a slightly hawkish tilt bear flattened the EUR curve, which in our view remains priced aggressively. In the US, as the markets head towards the Fed's first rate cut, the probability of a larger cut rose slightly on Thursday.

Rates Spark: ECB Presser Bear-Flattened The Curve

Positioning Ahead of the Fed: ETFs for a Lower Rate Era

The first cut is the deepest — so they say. As with all complicated relationships, this mantra may certainly ring true for the Federal Reserve and the markets — at least from a psychological standpoint.

Positioning Ahead of the Fed: ETFs for a Lower Rate Era

SPDR Portfolio Long Term Treasury ETF: Time To Load Up (Rating Upgrade)

SPTL has declined by nearly 40% due to rising treasury yields and inflation. SPTL's sensitivity to rate changes caused a 41% decline, but easing inflation and weakening economy may lead to a rebound. The lower rate environment and potential economic recession make it a good time to own SPTL, with potential price returns of over 20%.

SPDR Portfolio Long Term Treasury ETF: Time To Load Up (Rating Upgrade)

Going Longer: Deeper Rotation Into Duration?

Investors took refuge in short-term Treasury bonds throughout 2023, where they reaped the rewards of higher-yielding money markets. Meanwhile, longer duration Treasuries have been mired in a bear market since 2020 but could finally start to see a reversal of fortune.

Going Longer: Deeper Rotation Into Duration?

State Street Rebalance of Active ETF Models Hint at Caution

Macro conditions remain a bit of a mixed bag. In the past week alone, the latest read on inflation surprised to the downside, while unemployment figures beat estimates to the upside.

State Street Rebalance of Active ETF Models Hint at Caution

SPTL: A Balance Between Income And Duration, But I Remain On The Sidelines

Looking ahead, the fundamental/technical case to owning Treasury bonds isn't all that favorable, either.

SPTL: A Balance Between Income And Duration, But I Remain On The Sidelines

Estimating The Impact Of Lower Rates On Bond Fund Dividends

It generally takes a few years for changes in Federal Reserve rates to fully impact bond fund dividends. Bond funds are still benefitting from prior rate hikes. Perhaps by enough to cancel out any future rate cuts. By my estimations, and under current Fed guidance, most bond funds would only start to see declining dividends in 2025, at the earliest.

Estimating The Impact Of Lower Rates On Bond Fund Dividends

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