State Street SPDR MarketAxess Investment Grade 400 Corporate Bond ETF

Frequently Asked Questions About LQIG

What does LQIG invest in?

As the first State Street SPDR Fixed Income ETF built on liquidity, LQIG tracks the MarketAxess U.S. Investment Grade 400 Corporate Bond Index (the "Index"). The Index's emphasis on liquidity and use of sector/issuer constraints in index construction may make LQIG an efficient core beta risk and portfolio management toolBonds in the Index are screened using MarketAxess' proprietary Relative Liquidity Score (RLS), where bonds are considered for inclusion based on having higher-than-average liquidity relative to the broader U.S. corporate bond market, and then assessed for their tradability at the Index level, with final weights derived after constraining for specific issuer and sector characteristicsSeeking to track an index focused on liquidity, LQIG may provide more accurate real-time pricing visibility into the corporate bond market, translating into potentially tighter-bid ask spreads and less volatile premium/discounts than corporate bond ETFs that track indices that do not screen for relative liquidity

What is the expense ratio of LQIG?

State Street SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG) charges an expense ratio of 0.09%. This is the annual fee deducted from fund assets to cover management and operations.

What is the duration of LQIG?

Effective duration measures LQIG's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. LQIG's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of LQIG?

LQIG's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of LQIG?

Yield to maturity (YTM) is the total return you'd earn from LQIG if every bond in the portfolio is held to maturity at the current price. LQIG's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.

How big is LQIG?

State Street SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG) manages $28.3M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.