Morningstar

State Street® SPDR® Bloomberg Emerging Markets Local Bond ETF EBND ETF Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See State Street Investment Hub

Morningstar’s Analysis EBND

Will EBND outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable EBND’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the EBND management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of EBND’s parent organization’s priorities and whether they’re in line with investors’ interests.

Senior Principal Jose Garcia-Zarate

Jose Garcia-Zarate

Senior Principal

Summary

Diversified access to local-currency emerging-markets bond issuers. The basket has a quality tilt. The case for a passive approach to investing in local-currency-denominated emerging-markets government debt has merit for investors with a long-term horizon, and this State Street exchange-traded fund stands as a solid strategy. The compound benefits of broad diversification and higher average credit quality of the ETF´s portfolio relative to other passive peers are points we value. However, there are cheaper passive options in the category, particularly in traditional index funds, and this partly erodes this fund's competitive edge.

by Jose Garcia-Zarate
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