Bond ETFs

SPTL:what it yields, how rates move it and what it holds

State Street SPDR Portfolio Long Term Treasury ETF. Portfolio as of June 30, 2026, from the fund's SEC filing (Form N-PORT).

US Treasury, long. US Treasury bonds with a duration above 10 years: if rates rise by 1 percentage point, their price falls more than 10%. These fell the most in 2022.

Yield to maturity (YTM)

4.94%

+0.09 points over US Treasuries of the same maturity

As of June 30, 2026, before the fund's costs.

If rates rise 1 pointestimated from its duration, 14.1 years: -14.1%
Investment gradeno credit risk: US Treasury
Size101 positions: $10.5B

In a few words

SPTL holds 101 positions. 99% of the portfolio is US Treasury bonds. On June 30, 2026, the bonds it holds had a yield to maturity (YTM) of 4.94% a year, before the fund's costs. Its duration is 14.1 years: if rates rise by 1 percentage point, its price falls about 14.1%. In 2022, when rates rose sharply, its total return was -29.6%.

Every ETF in US Treasury, long

If rates change

A rough estimate, if rates moved at once and equally at every maturity.

14.1 years duration4.94% yield to maturity

Change in rates+1 point

▲ break-even

Price, at once

-14.1%

Over 12 months, with the yield

-9.2%

Ready-made moves

Change in rates	At once	12 months
	+14.1%	+19.0%
	+7.1%	+12.0%
	0.0%	+4.9%
	-7.1%	-2.1%
	-14.1%	-9.2%
	-28.2%	-23.3%

At a yield of 4.94% and a duration of 14.1 years, a rise in rates of about 0.35 points within the year would eat the whole year's yield.

Past returns

The ETF's total return, price change plus distributions, as the fund reports it to the SEC.

July 2019 – June 2026

Last 12 months

+2.9%

3 years, average per year

-0.5%

Worst 12 months

-32.0%

Largest fall from a peak

-45.4%

100 at the start 83.8 at the end, distributions reinvested

What it holds

Portfolio as of June 30, 2026: when the bonds it holds mature, and its main figures.

101 positions1 issuer

When they mature

Up to 1 year0.0%

1 to 3 years0.0%

3 to 5 years0.0%

5 to 10 years0.0%

10 to 20 years45.3%

Over 20 years53.6%

Details

Issuer: US Treasury, 98.9%
Positions: 101
Average coupon: 3.53%
Floating rate: 0.0%
In other currencies: 0.0%
Mortgage-backed: 0.0%
In default: 0.00%
Hard to value: 0.00%
Cash and cash funds: 0.0%

Maturities as stated on the bonds. Mortgage bonds, many corporate bonds and city bonds can be repaid early, so in practice they mature sooner.

Similar bond ETFs

Same kind as SPTL, nearest in rate sensitivity.

VGLTVanguard Long-Term Treasury ETF
If rates +1%-13.2%
TLTiShares 20+ Year Treasury Bond ETF
If rates +1%-15.1%
TLHiShares 10-20 Year Treasury Bond ETF
If rates +1%-11.8%
EDVVanguard Extended Duration Treasury ETF
If rates +1%-23.2%

ETF	Yield (YTM)	If rates +1%	2022	Size
VGLTVanguard Long-Term Treasury ETF	5.23%	-13.2%	-29.4%	$15.1B
TLTiShares 20+ Year Treasury Bond ETF	5.29%	-15.1%	-31.4%	$47.0B
TLHiShares 10-20 Year Treasury Bond ETF	5.16%	-11.8%	-25.4%	$11.0B
EDVVanguard Extended Duration Treasury ETF	5.44%	-23.2%	-39.4%	$4.1B

The full analysis

And what about stocks?

Bonds are only one side of investing. With Ploutos AI you can analyse a company through its official SEC filings, look into its financials and understand what lies behind the numbers. Every finding comes with a reference to its source, so you can check the data behind the analysis.

A fair value range built from the filings
Earnings quality, debt and red flags
Insider and institutional moves
The case for and the case against

Common questions

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How much would SPTL fall if rates rose?

With a duration of 14.1 years, an immediate one-point rise in rates would take about 14.1% off its price. An equal fall would add about the same.

What is SPTL's yield?

On June 30, 2026, according to its filing, the bonds it holds had a yield to maturity (YTM) of 4.94% a year, before the fund's costs. That is not the distribution the ETF pays, and it moves every day with prices.

How did SPTL do in 2022?

In 2022 SPTL returned -29.6% in total, as the fund reports it.

Is this SPTL's dividend yield?

No. The yield to maturity shown here is what the bonds the fund holds would earn a year if held to maturity, at the prices on the filing date. The dividend yield measures what the ETF paid over the last 12 months against its price, and it lags, because it depends on the coupons of bonds bought earlier. The SEC yield the issuer publishes is a standardised 30-day figure after costs, and usually lands close to the yield to maturity, a little below. When rates have risen, the dividend yield is usually lower than the other two.

US stocksThe market today, the sectors, the largest companies and the week's results.ETF overlapHow much of one ETF is already inside another, stock by stock, from the funds' SEC filings.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.Methodology and sourcesWhere every figure comes from and how it is checked.

This page describes what bond ETFs hold, based on their SEC filings. Bond prices change every day and past returns do not say what comes next.