ETF Evaluator:
Stt Strt® Loomis Sayles Oppc ETF ()
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(as of Aug 26)
Best Performing in Multisector Bond Over the Last Year
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| 5.6% | Neuberger Flexible Credit Income ETF (NBFC) |
Risk
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Risk
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ETF Details
Stt Strt® Loomis Sayles Oppc ETF Overview
Stt Strt® Loomis Sayles Oppc ETF (OBND) is an actively managed Taxable Bond Multisector Bond exchange-traded fund (ETF). State Street Investment Management launched the ETF in 2021.
The investment seeks to maximize total return.
The sub-adviser will invest at least 80% of the fund's net assets, directly, or indirectly through underlying ETFs, in debt obligations. The fund may also invest in hybrid securities that combine debt and equity characteristics, such as preferred securities, convertible preferred securities and contingent convertible securities. It may invest in debt obligations of any credit quality and may invest up to 100% of its net assets in debt instruments that are rated below investment grade or are unrated but determined by the sub-adviser to be of comparable quality. The fund is non-diversified.
About Stt Strt® Loomis Sayles Oppc ETF (OBND)
There are 4 members of the management team with an average tenure of 3.71 years: Andrea DiCenso (2021), Mark LaRochelle (2026), Thomas Stolberg (2021) and Kevin Kearns (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 4 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, Morningstar LSTA US LL TR USD index with a weighting of 25%, Bloomberg US Corp Bond TR USD index with a weighting of 50% and Bloomberg US HY 2% Issuer Cap TR USD index with a weighting of 25%. Stt Strt® Loomis Sayles Oppc ETF has 414 securities in its portfolio. The top 10 holdings constitute 28.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Stt Strt® Loomis Sayles Oppc ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Stt Strt® Loomis Sayles Oppc ETF has 22.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2% There is 0.0% allocated to foreign stock, and 1.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.4% (72.1% domestic bond, 22.2% foreign bond and 0.4% convertible bond). Stt Strt® Loomis Sayles Oppc ETF has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $57 million in total assets, which is below the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OBND Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Stt Strt® Loomis Sayles Oppc ETF expense ratio is average compared to funds in the Multisector Bond category. Stt Strt® Loomis Sayles Oppc ETF has an expense ratio of 0.55%, which is 16% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Stt Strt® Loomis Sayles Oppc ETF has a portfolio turnover rate of 129%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 163% for the Multisector Bond category.
Recently, in the month of July 2026, Stt Strt® Loomis Sayles Oppc ETF returned -0.8%, which earned it a grade of D, as the Multisector Bond category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Stt Strt® Loomis Sayles Oppc ETF has a trailing yield of 6.41%, which is above the 5.63% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Stt Strt® Loomis Sayles Oppc ETF Grades
Year to date, the ETF has returned 0.7%, 0.5 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.0% over the past year (grade of D) and 6.2% over the past three years (grade of D).
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OBND Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OBND Return (NAV) | -0.8% | -0.1% | 4.0% | 6.2% | na | na |
| OBND Return (Price) | -1.1% | -0.4% | 4.0% | 6.1% | na | na |
| NAV +/- Price Return | 0.239% | 0.303% | 0.002% | 0.026% | na | na |
| Multisector Bond Avg | -0.5% | 0.3% | 4.5% | 6.2% | 1.8% | 3.1% |
| OBND Grade (NAV) | D | D | D | D | na | na |
| +/- Category (NAV) | -0.3% | -0.3% | -0.6% | -0.0% | na | na |
| OBND Tax-Cost Ratio | na | na | 2.5% | 2.6% | na | na |
OBND Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OBND Return (NAV) | 0.7% | 7.9% | 4.8% | 9.6% | -11.2% | na | na | na | na | na | na |
| OBND Return (Price) | 0.7% | 7.8% | 4.8% | 9.5% | -11.2% | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.084% | -0.011% | -0.004% | -0.014% | -0.000% | na | na | na | na | na | na |
| Multisector Bond Avg | 1.3% | 7.6% | 5.5% | 8.2% | -10.8% | 3.0% | 4.7% | 10.6% | -1.8% | 5.9% | 7.4% |
| OBND Grade (NAV) | D | C | D | A | D | na | na | na | na | na | na |
| +/- Category | -0.5% | 0.3% | -0.6% | 1.4% | -0.4% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.73 |
| R-Squared: | 88% |
| Standard Deviation: | 4.4% |
| Category Risk Index: | 0.93 |
| Category Risk Rating: | Average |
| Total Risk Index: | 0.36 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 6.4% |
| Total Assets: | $ 57 Mil |
| Share Class Assets: | $ 57 Mil |
| Turnover: | 129.0% |
| Expense Ratio: | 0.55% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): DiCenso Andrea (2021), Stolberg Thomas (2021), Kearns Kevin (2021), LaRochelle Mark (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 414 |
| % in Top 10 Holdings: | 28.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 22.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.7% |
| Domestic Bond: | 72.1% |
| Foreign Bond: | 22.2% |
| Convertible Bond: | 0.4% |
| Other: | 0.0% |
| Cash: | 3.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | State Street Investment Management |
| Phone Number: | 866-787-2257 |
| Website: | www.spdrs.com |
| Inception Date: | September 27, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.55% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.65% |
