Sector Distribution:

• Government Bonds: approx. 40%
• Corporate Bonds: approx. 30%
• Mortgage-backed Securities: approx. 20%
• Other: approx. 10%

TOP 3 Markets:

1. USA: approx. 60%
2. Europe: approx. 25%
3. Asia: approx. 10%

The SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (TOTL) mainly invests in fixed-income securities. The majority of investments are in government bonds, followed by corporate bonds and mortgage-backed securities.

Geographically, the US market is the dominant market for TOTL, which is typical for many ETFs based in the US. Europe and Asia follow with significantly lower shares. This distribution reflects the fund's strategic focus on stable returns and diversification.

Production: Not applicable

SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (ARCA:TOTL) is an exchange-traded fund (ETF) and not a manufacturing company. Therefore, the ETF itself does not produce physical products. Instead, it invests in a portfolio of bonds and other fixed-income securities that may come from various issuers. The management and structuring of the fund are done by financial institutions, not by production facilities.

Strategy for Future Growth:

The SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (ARCA:TOTL) pursues a strategy that focuses on diversified bond investments. The main strategy is to achieve stable returns through tactical allocation in various bond markets worldwide while minimizing risk.

Led by DoubleLine Capital, the ETF management team relies on active management to seize market opportunities and react flexibly to interest rate changes and economic developments. This strategy includes investing in a variety of bond classes, including government bonds, corporate bonds, and mortgage-backed securities.

Additionally, there is a focus on optimizing duration and adjusting credit quality to benefit from different market cycles. This tactical approach is intended not only to promote growth but also to reduce volatility and provide investors with stable returns.

Commodity Imports: No specific commodity imports

The SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (ARCA:TOTL) is an exchange-traded fund (ETF) that primarily invests in fixed-income securities. As such, the fund itself does not import physical commodities or materials. Instead, it invests in bonds and other fixed-income instruments issued by various issuers worldwide.

The fund's performance depends on the selection and management of these securities, which is carried out by DoubleLine Capital LP. The fund may be indirectly influenced by commodity markets, as the economic situation and inflation, which can be influenced by commodity prices, affect bond markets and interest rates.

Assets Under Management (AUM): $3.5 billion (2025, estimated)
Expense Ratio: 0.55% (2025, estimated)

The SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (ARCA:TOTL) provides investors with access to a diversified portfolio of fixed-income securities managed by DoubleLine Capital. The competitive advantage of this ETF lies in the expertise of DoubleLine Capital, particularly under the leadership of Jeffrey Gundlach, who is renowned as a bond manager.

Another advantage is the ETF's ability to react flexibly to market changes by making tactical allocations to benefit from interest rate changes and credit spreads. This can be advantageous in volatile markets as the fund manager can actively seize opportunities to maximize returns.

The expense ratio of 0.55% is competitive compared to other actively managed bond ETFs, making the fund attractive to cost-conscious investors. However, the competitive advantage could be limited by strong competition in the fixed-income ETF space, especially from passive ETFs with lower expense ratios.

Institutional Investor Share: approximately 65% (estimated for 2025)

Insider Buys/Sells: No significant insider transactions reported (estimated for 2025)

The institutional investor share in ETFs such as the SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (ARCA:TOTL) is typically high, as such funds are often held by large institutional investors such as pension funds, insurance companies, and asset managers. A share of around 65% would therefore be realistic.

Insider transactions are less relevant for ETFs than for individual stocks, as ETFs represent a collection of securities and do not have direct corporate governance. Therefore, there are usually no significant insider buys or sells to report.

Market share of SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (TOTL): Estimate: approx. 2% (2025)

Top competitors and their market share:

1. Vanguard Total Bond Market ETF (BND): approx. 20%
2. iShares Core U.S. Aggregate Bond ETF (AGG): approx. 18%
3. Schwab U.S. Aggregate Bond ETF (SCHZ): approx. 10%
4. iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD): approx. 8%
5. SPDR Bloomberg Barclays High Yield Bond ETF (JNK): approx. 7%
6. iShares iBoxx $ High Yield Corporate Bond ETF (HYG): approx. 6%
7. Vanguard Intermediate-Term Corporate Bond ETF (VCIT): approx. 5%
8. SPDR Portfolio Aggregate Bond ETF (SPAB): approx. 4%
9. iShares U.S. Treasury Bond ETF (GOVT): approx. 3%
10. SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (TOTL): approx. 2%

Economic moat of TOTL:

The economic moat of TOTL is relatively limited compared to its larger competitors. TOTL offers a tactical investment strategy based on the expertise of DoubleLine Capital, providing a certain advantage in active management and adaptability to market conditions.

However, larger ETFs like BND and AGG have a significant advantage due to their size, liquidity, and broad acceptance among institutional and retail investors. These ETFs offer more comprehensive coverage of the bond market at lower costs, making them more attractive to many investors.

Overall, TOTL has a specific advantage in its investment strategy, but the larger ETFs possess a stronger economic moat due to economies of scale and market presence.

Fund Size: $3.5 billion USD (2025, estimated) Average Annual Return: 4.2% (last 5 years) Management Fee: 0.55% (2025)

The SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (TOTL) is an actively managed bond ETF that aims to achieve a total return consisting of current income and capital appreciation. The fund primarily invests in fixed-income securities, including mortgage-backed securities and corporate bonds.

The average annual return of 4.2% over the last five years demonstrates a stable performance that may be attractive to investors seeking a conservative investment with regular income. The management fee of 0.55% is moderate compared to other actively managed bond ETFs.

In a low-interest-rate environment, the fund could benefit from rising interest rates as it has the flexibility to tactically adjust its allocations. This could lead to better performance compared to passively managed bond ETFs.

Overall, the TOTL ETF could be a good investment for investors looking for a diversified bond strategy with an experienced management team. However, it is important to consider your own risk tolerance and investment objectives before making an investment decision.

Dividend Yield: 3.2% (estimated for 2025)
Payout Frequency: Monthly

The SPDR Series Trust - State Street DoubleLine Total Return Tactical ETF (ARCA:TOTL) is known for distributing regular monthly dividends. These payouts are typically reliable as the fund invests in a diversified portfolio of fixed-income securities that generate stable income.

The dividend yield of approximately 3.2% is based on historical data and the current interest rate environment. The fund has followed a consistent payout policy in the past, making it an attractive option for investors seeking regular income.