The SPDR Portfolio Long Term Treasury ETF (SPTL) is an exchange-traded fund designed to track the performance of long-term U.S. Treasury securities. The ETF is managed by State Street Global Advisors (SPDR) and trades under the ticker SPTL on the NYSE Arca.

Classified as a fixed-income ETF, the fund invests in U.S. Treasury securities with remaining maturities of at least 10 years. Its strategy provides exposure to high-credit-quality government bonds with greater interest rate sensitivity than shorter-duration Treasury securities.

The ETF follows a passive management approach and seeks to replicate the performance of the ICE U.S. Treasury 10+ Year Bond Index, a benchmark composed of long-term U.S. Treasury securities.

Diversification and sector exposure

SPTL provides exposure primarily associated with:

• U.S. Treasury securities.

• Fixed income.

• Long-term government bonds.

• Sovereign debt.

• High-credit-quality assets.

• Government bond market.

• Long duration.

• U.S. dollar.

The portfolio consists of a diversified selection of U.S. Treasury securities with maturities greater than ten years, providing exposure to the long end of the U.S. Treasury yield curve. The ETF's performance reflects changes in the prices of long-term Treasury securities, which are generally more sensitive to shifts in inflation expectations and monetary policy.

Structure and costs

SPTL shares trade on the secondary market on the NYSE Arca during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF's market price with its net asset value (NAV).

The fund carries a low expense ratio, consistent with the SPDR Portfolio ETF lineup, and does not apply a performance fee. Interest income generated by the underlying Treasury securities is distributed periodically to shareholders according to the fund's distribution policy.

History and evolution of the ETF

The SPDR Portfolio Long Term Treasury ETF was launched in 2007 to provide investors with a low-cost way to gain exposure to long-term U.S. Treasury securities.

Since inception, the fund has tracked multiple monetary policy cycles and long-term interest rate environments, including periods of strong Treasury appreciation and rising bond yields.

In recent years, changes in inflation, expectations surrounding Federal Reserve policy, and global demand for safe-haven assets have continued to influence the performance of the securities represented in the ETF's portfolio.

Additional Information

SPDR Portfolio Long Term Treasury ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $10.66 billion.

Over the past 12 months, SPDR Portfolio Long Term Treasury ETF recorded a return of -1.62%, with its price trading between $25.08 and $27.67 during the same period.

The ETF is traded under the ticker SPTL.