Average Daily Volume
4.43M
Fund Overview
The SPDR Portfolio Long Term Treasury ETF (SPTL) is designed to provide investment results that correspond to the performance of the Bloomberg Long U.S. Treasury Index. This ETF invests primarily in U.S. Treasury bonds with maturities of 10 years or more, offering investors exposure to long-duration government debt. SPTL is a cost-effective option for those seeking to diversify their fixed-income portfolio with long-term Treasury securities, which are considered among the safest investments due to the full faith and credit of the U.S. government. The fund is passively managed, aiming to replicate the index's performance with low tracking error and minimal expenses.
- Asset Class
-
Bond
- Industry
-
Treasury Bonds
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- 4.67 %
- Currency Hedged
-
No
- Portfolio Turnover
-
3 %
- Dividend Date
-
Why Invest in the SPTL ETF?
Potential Benefits
- Provides exposure to long-term U.S. Treasury bonds, which are considered low-risk investments backed by the U.S. government.
- Offers diversification benefits, as Treasury bonds often have low correlation with equities and other risk assets.
- Low expense ratio (0.03%) makes it a cost-efficient choice for long-term Treasury exposure.
- Passive management strategy aims to closely track the Bloomberg Long U.S. Treasury Index with minimal tracking error.
- Highly liquid, with tight bid-ask spreads and ample trading volume.
- Suitable for investors seeking income and capital preservation in a low-risk fixed-income allocation.
Potential Risks
- Interest rate risk: Long-duration bonds are highly sensitive to changes in interest rates, which can lead to significant price declines.
- Inflation risk: Rising inflation can erode the real value of fixed coupon payments from Treasury bonds.
- Opportunity cost: In a rising rate environment, investors may miss out on higher-yielding alternatives.
- Lower yield compared to corporate or high-yield bonds, which may not meet income needs for some investors.
- Duration risk: The fund's long average maturity amplifies its sensitivity to interest rate movements.
- Limited growth potential compared to equity investments over the long term.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
-0.1%
|
+4.2%
|
-3.9%
|
-0.7%
|
+0.5%
|
+1.1%
|
-4.1%
|
+0.8%
|
-5.0%
|
0.0%
|
-
|
-
|
| 2025 |
+0.5%
|
+5.2%
|
-0.9%
|
-1.0%
|
-3.0%
|
+2.6%
|
-0.9%
|
+0.2%
|
+3.2%
|
+1.3%
|
+0.4%
|
-2.1%
|
| 2024 |
-1.8%
|
-2.3%
|
+1.0%
|
-5.9%
|
+2.9%
|
+1.7%
|
+3.6%
|
+2.0%
|
+2.0%
|
-5.2%
|
+1.8%
|
-5.4%
|
| 2023 |
+7.1%
|
-4.8%
|
+4.8%
|
+0.4%
|
-2.9%
|
0.0%
|
-2.2%
|
-2.7%
|
-7.3%
|
-4.9%
|
+9.1%
|
+8.3%
|
| 2022 |
-3.7%
|
-1.4%
|
-5.2%
|
-9.1%
|
-1.9%
|
-1.4%
|
+2.6%
|
-4.5%
|
-8.0%
|
-5.4%
|
+6.9%
|
-2.3%
|
| 2021 |
-3.5%
|
-5.6%
|
-4.9%
|
+2.3%
|
-0.1%
|
+4.1%
|
+3.6%
|
-0.2%
|
-2.9%
|
+2.0%
|
+2.6%
|
-1.9%
|
| 2020 |
+7.6%
|
+6.4%
|
+6.5%
|
+1.1%
|
-1.6%
|
+0.3%
|
+4.3%
|
-4.8%
|
+0.8%
|
-3.3%
|
+1.6%
|
-1.2%
|
| 2019 |
+0.3%
|
-1.3%
|
+5.4%
|
-1.9%
|
+6.7%
|
+0.9%
|
+0.4%
|
+10.8%
|
-2.8%
|
-1.0%
|
-0.5%
|
-3.1%
|
| 2018 |
-3.4%
|
-3.0%
|
+2.8%
|
-2.0%
|
+1.9%
|
+0.6%
|
-1.4%
|
+1.3%
|
-2.7%
|
-2.8%
|
+1.8%
|
+5.9%
|
| 2017 |
+0.8%
|
+1.6%
|
-0.7%
|
+1.6%
|
+1.8%
|
+0.6%
|
-0.5%
|
+3.2%
|
-2.2%
|
0.0%
|
+0.6%
|
+2.0%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: SPTL vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
SPTL employs a passive investment strategy designed to track the Bloomberg Long U.S. Treasury Index. This index includes publicly issued U.S. Treasury securities that have a remaining maturity of 10 or more years, are rated investment grade, and have $300 million or more of outstanding face value. The fund uses a sampling technique to replicate the index, holding a representative sample of securities that collectively have similar risk and return characteristics to the full index. SPTL primarily holds physical Treasury bonds rather than using derivatives. The fund is rebalanced monthly to maintain alignment with the index composition, which changes as bonds age and new issues enter the market.
Frequently Asked Questions
What is the average duration of SPTL?
SPTL typically has an average effective duration of around 17-18 years, reflecting its focus on long-term Treasury bonds with maturities of 10+ years.
How does SPTL differ from short-term Treasury ETFs?
SPTL invests in long-duration Treasury bonds (10+ years), which are more sensitive to interest rate changes but typically offer higher yields than short-term Treasury ETFs that hold bonds with maturities of 1-3 years.
Is SPTL a good hedge against stock market declines?
Historically, long-term Treasuries have often performed well during equity market downturns as investors seek safe-haven assets, making SPTL potentially useful as a portfolio hedge, though past performance doesn't guarantee future results.
How often does SPTL pay dividends?
SPTL pays monthly dividends derived from the interest payments on its underlying Treasury bond holdings.
What was SPTL's performance during periods of rising interest rates?
Like all long-duration bond funds, SPTL typically experiences price declines when interest rates rise sharply, as bond prices move inversely to yields. However, the higher coupon payments over time can help offset some of these price declines.
Industry Overview
The SPDR Portfolio Long Term Treasury ETF (SPTL) provides exposure to the long-term U.S. Treasury bond market, which serves as a benchmark for global fixed-income securities. Long-term Treasuries are often used by investors as a safe-haven asset during periods of market volatility or economic uncertainty. The ETF's focus on government debt with maturities of 10+ years makes it particularly sensitive to interest rate movements and monetary policy changes. Investors typically include long-duration Treasury ETFs like SPTL in their portfolios for diversification, capital preservation, or as a hedge against equity market downturns. The long-term Treasury market is one of the most liquid in the world, with the U.S. government bond market serving as the foundation for global fixed-income investing.
Alternative Comparison
Compared to similar long-term Treasury ETFs like TLT (iShares 20+ Year Treasury Bond ETF) and VGLT (Vanguard Long-Term Treasury ETF), SPTL stands out for its ultra-low expense ratio of 0.03%, making it one of the most cost-efficient options in the category. While TLT has greater assets under management and slightly higher liquidity, SPTL offers nearly identical exposure at a lower cost. VGLT, while also low-cost, has a slightly different index methodology that includes bonds with maturities of 10+ years rather than strictly 20+ years. Unlike some actively managed Treasury funds that might adjust duration based on interest rate views, SPTL maintains consistent long-duration exposure regardless of market conditions.
Issuer Overview
SPTL is issued by State Street Global Advisors (SSGA), one of the largest ETF providers globally and a pioneer in index investing. SSGA manages a comprehensive suite of SPDR ETFs across various asset classes, including equities, fixed income, and alternatives. The firm is known for its low-cost, passively managed investment products that aim to deliver efficient market exposure. SSGA's fixed-income ETF lineup includes Treasury funds across different maturity spectrums, providing investors with precise duration targeting capabilities.
Conclusion
SPTL provides investors with a straightforward, low-cost way to gain exposure to long-term U.S. Treasury securities. Its passive approach and minimal expense ratio make it an attractive option for those seeking core fixed-income exposure with long duration characteristics. While the fund offers the safety of government backing and portfolio diversification benefits, investors should be mindful of its heightened sensitivity to interest rate movements. SPTL is particularly suitable for investors with a long-term horizon who are looking to balance riskier assets in their portfolio or position for potential economic downturns.
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