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State Street® SPDR® Bloomberg U.S. High Yield Corporate Scored EUR Hdg UCITS ETF (Acc)Index, costs, backtest, listings and taxation

ISIN: IE00BYTH5602Ticker: SJNE (Borsa Italiana) · SPPQ (Xetra)Issuer: SPDR
Issuer-declared data
Declared index
Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index (EUR Hedged)
TER
0.35%
Transaction costs
0.09% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
280.5 mln EUR
NAV
34.91 EUR (30 August 2026)
Domicile
Ireland
Inception date
23 March 2022
Data as declared by SPDR in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

State Street® SPDR® Bloomberg U.S. High Yield Corporate Scored EUR Hdg UCITS ETF (Acc) tracks the issuer-declared index: Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index (EUR Hedged). The declared annual cost (TER) is 0.35%, plus 0.09% in transaction costs estimated by the issuer in the KID. Replication is stratified-sampling physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 281 million euro, was launched on 23 March 2022 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

This EUR Hedged Class is made available to reduce exchange rate fluctuations between the currency of this Share Class and the currency in which the underlying assets of the Fund are denominated. The Share Class will be hedged back to EUR and consequently should more closely track the corresponding hedged version of the Index (Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index (EUR Hedged)). Investment objective The objective of the Fund is to track the performance of the fixed-rate, US dollar-denominated high yield corporate bond market. The Fund may use financial derivative instruments (that is, financial contracts whose prices are dependent on one or more underlying assets) in order to manage the portfolio efficiently. The Fund seeks to track the performance of the Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index (EUR Hedged) (the "Index") as closely as possible. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day. Market prices may be greater or less than the daily net asset value of the Fund. The Fund is an index tracking fund (also known as a passively managed fund). Investment policies The Fund invests primarily in securities included in the Index. The Index is a high yield, fixed-rate, U.S. dollar-denominated benchmark that optimizes its R-Factor™ score, an environmental, social and governance ("ESG") rating, provided by State Street Global Advisors®. Based on the Bloomberg US Corporate High Yield Bond Index (the "U.S. HY Corporate Index"), the Index selects securities eligible for the U.S. HY Corporate Index, then aims to exclude certain issuers based on their ESG characteristics considering both their ESG rating and their involvement in certain controversial business activities as outlined in the Index methodology. Then, the Index weights securities using an optimisation process, in order to seek to maximise the portfolio ESG rating, while controlling for active total risk. The active total risk refers to the variation between the Index and the U.S. HY Corporate Index. At least 90% of the Fund's assets are invested in securities that are constituents of the Index, while the index provider applies ESG Ratings on all of the Index constituents. It is expected that the resulting portfolio ESG rating will be higher than the portfolio ESG rating of the U.S. HY Corporate Index after applying a filter eliminating at least 20% of the least well rated securities, by ESG rating, from the U.S. HY Corporate Index. There may be potential inconsistencies, inaccuracy or lack of availability of the ESG data, particularly when issued by external data providers. There may also be potential inconsistencies with the ESG screening methodology of the Index (criteria, approaches, constraints). Details about the limits are described in the Supplement. As it may be difficult to purchase all securities in the Index efficiently, in seeking to track the performance of the Index the Fund will use a stratified sampling strategy to build a representative portfolio which The Fund does not currently engage in securities lending. The Shares of the EUR Class are issued in Euro. Any income earned by the Fund will be retained and reflected in an increase in the value of the shares. Shareholders may redeem shares on any UK business day (other than days on which relevant financial markets are closed for business and/or the day preceding any such day provided that a list of such closed market days will be published for the Fund on www.ssga.com); and any other day at the Directors' discretion (acting reasonably) provided Shareholders are notified in advance of any such days. Index Source: The Index is the intellectual property of the Index provider. The Fund is not sponsored or endorsed by the Index provider. The Index provider does not provide any warranty or accept any liability in relation to any error relating to the Index, including any error in respect of the quality, accuracy or completeness of Index data, and does not guarantee that the Index will be in line with the described Index methodology. Please see the Prospectus for the full index disclaimer.

Keep reading the KID section ▾

Intended retail investorThis Fund is intended for investors who plan to stay invested for at least 3 years and are prepared to take on a medium-high level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Practical information Depositary The Fund depositary is State Street Custodial Services (Ireland) Limited.

From the KID’s “Objectives” section · 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.35%: above the median of bond ETFs we track (0.15%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Mar 2022 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+16.3%
Annualised
+3.5%
Volatility (ann.)
4.8%
Max drawdown
-12.79%
-15%-6%+3%+11%+20%Mar 2022May 2023Jun 2024Jul 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+16%Mar 2022Sept 2026
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%20222023202420252026−12.79% · 29 Sept 2022
Max drawdown
-12.79%
peak → trough
Trough
29 Sept 2022
from the 04 Apr 2022 peak
Recovery time
454 days
recovery only: trough to break-even · ≈ 1 year and 3 months
Underwater
632 days
decline + recovery: peak to break-even · ≈ 1 year and 9 months · → recovered on 27 Dec 2023

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
04 Apr 202229 Sept 2022-12.79%27 Dec 2023632
28 Feb 202508 Apr 2025-4.57%04 Jun 202596
19 Jan 202627 Mar 2026-2.77%15 Jun 2026147
22 Mar 202418 Apr 2024-1.72%06 May 202445
19 Sept 202518 Nov 2025-1.29%05 Jan 2026108

Calendar-year returns

2022
-8.0%
2023
10.0%
2024
8.0%
2025
5.4%
2026
1.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.3-0.1-1.71.40.60.1-0.20.5-0.01.0
20251.20.7-1.5-0.61.71.80.11.20.5-0.30.10.45.4
2024-0.1-0.01.4-1.11.50.82.11.71.4-0.61.1-0.58.0
20233.9-1.60.50.6-0.71.21.3-0.4-1.3-1.54.43.510.0
2022-4.00.1-7.65.7-2.4-4.72.52.7-0.8-8.0
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: SPDR. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 4 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.08% /anno
Declared TER
0.35%
YearFundIndexDifference
2025+5.42%+5.45%-0.03%
2024+7.96%+8.15%-0.19%
2023+9.99%+9.54%+0.45%
2022-7.96%-7.77%-0.19%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 31 July 2026), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsFull history
Volatility (ann.)2.45%3.25%4.74%
Max drawdown-2.77%-4.57%-12.79%
Sharpe-0.170.930.14
Sortino-0.231.360.19
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
2.96years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
< 1 year
1.44%
1–3 years
24.64%
3–5 years
38.14%
5–7 years
23.36%
7–10 years
10.65%
10–20 years
1.51%
> 20 years
0.28%

Source: factsheet SPDR, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
Aaa
0.08%
Below Baa
99.87%
Not rated
0.05%

Source: factsheet SPDR, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
585
Top-10 weight
10.2%

Top 10 holdings

CLARIOS GLOBAL LP/US FIN 6.75 09/15/2032
1.42%
MPT OPER PARTNERSP/FINL 8.5 02/15/2032
1.18%
ALCOA NEDERLAND HOLDING 7.125 03/15/2031
1.00%
CAESARS ENTERTAIN INC 7 02/15/2030
0.99%
CLEAR CHANNEL OUTDOOR HO 7.125 02/15/2031
0.96%
VODAFONE GROUP PLC 4.125 06/04/2081
0.96%
SNAP INC 6.875 03/01/2033
0.94%
PG&E CORP 7.375 03/15/2055
0.92%
GEN DIGITAL INC 6.25 04/01/2033
0.92%
LEVEL 3 FINANCING INC 6.875 06/30/2033
0.91%
Download the full portfolio — Excel, 585 rows
Full portfolio declared by SPDR, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00BYTH5602SJNE
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 2,000 €, agreement until 31 May 2027
  • Moneyfarmzero within the savings plan (buys), agreement until 12 January 2028
  • Moneyfarmzero on single buys from 1,000 €, agreement until 12 January 2028
IE00B99FL386SJNK
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 2,000 €, agreement until 31 May 2027
  • Moneyfarmzero within the savings plan (buys), agreement until 12 January 2028
  • Moneyfarmzero on single buys from 1,000 €, agreement until 12 January 2028
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)SJNE28 Mar 2022
Börse DüsseldorfSPPQ29 Mar 2022
Börse FrankfurtSPPQ25 Mar 2022
Börse HamburgSPPQ29 Jun 2022
Börse HannoverSPPQ9 Dec 2024
Börse München / gettexSPPQ16 Mar 2022
Börse StuttgartSPPQ16 May 2022
Tradegate ExchangeSPPQ18 Nov 2022
Xetra (Deutsche Börse)SPPQ25 Mar 2022
+ 8 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does State Street® SPDR® Bloomberg U.S. High Yield Corporate Scored EUR Hdg UCITS ETF (Acc) track?
The issuer SPDR declares the benchmark: Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index (EUR Hedged).
How much does SJNE cost?
The issuer-declared TER is 0.35% per year; the transaction costs estimated in the KID are 0.09%.
How is SJNE taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of SJNE?
The fund size declared by SPDR is about 281 million euro.
When was SJNE launched?
The fund was launched on 23 March 2022: it has 4 years of history.
How does SJNE replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (sampled) (issuer wording: “Stratified Sampling”).
Does SJNE pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does SJNE trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (SJNE), Börse Düsseldorf (SPPQ), Börse Frankfurt (SPPQ), Börse Hamburg (SPPQ), Börse Hannover (SPPQ), Börse München / gettex (SPPQ).
What was SJNE's worst fall?
Over the available history (since 2022), the maximum drawdown was -12.79%, reached in September 2022. Past performance is not indicative of future results.
How many securities does SJNE hold?
The declared portfolio holds 585 securities; the top 10 positions weigh 10.2%.
Transparency note
The data in this sheet is declared by SPDR in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.