JNK Dividend: Next Ex-Date, History & Total Return

JNK, the State Street SPDR Bloomberg High Yield Bond ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the U.S. high yield corporate bond market. The Bloomberg High Yield Very Liquid Index, which JNK seeks to track, is designed to measure the performance of publicly issued U.S. dollar denominated high yield corporate bonds with above-average liquidity.¹

Under normal market conditions, JNK generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in securities that its adviser, SSGA Funds Management, Inc. (SSGA FM), determines have economic characteristics substantially identical to those of the index securities. In seeking to track the index, the fund may also invest in debt securities outside it.¹

JNK uses a sampling strategy, so it is not required to purchase all of the securities represented in the index. SSGA FM may invest in a subset of them, in an effort to hold a portfolio with generally the same risk and return characteristics as the index. It may instead invest in substantially all of them in approximately the same proportions as the index, as determined by SSGA FM to be in the best interest of the fund in pursuing its objective.¹

JNK's index includes publicly issued U.S. dollar denominated, non-investment-grade, fixed-rate, taxable corporate bonds with a remaining maturity of at least one year, but not more than fifteen years, regardless of optionality. Each bond must be rated high-yield (Ba1/BB+/BB+ or below) using the middle rating of Moody's Investors Service, Fitch Ratings and S&P Global Ratings, and must have $500 million or more of outstanding face value.¹

A bond must have been issued within the past five years to be eligible, and exposure to each eligible issuer is capped at two percent of the index. Securities must also be registered, exempt from registration at the time of issuance or issued under Rule 144A of the Securities Act of 1933, and the index is updated on the last business day of each month.¹

The index includes only corporate categories. The corporate categories are Industrial, Utility, and Financial Institutions. Securities excluded from the index include non-corporate bonds, structured notes, private placements, bonds with equity-type features such as warrants or convertibility, floating-rate issues, Eurobonds, defaulted bonds, partial payment-in-kind (PIK) securities, PIK securities and toggle notes paying interest in-kind, and emerging market bonds.¹

In Dividend Stacker's record of past payments, JNK made 12 distributions in each completed calendar year from 2008 through 2025. The amounts are adjusted for any share splits or reverse splits, so they can differ from what the fund announced at the time. The annual total rose 12.9% from $12.53 per share in 2008 to $14.14 in 2009, the highest annual total in the record.²

The total then fell every year from 2010 through 2018, including a 25.4% drop in 2011, and stood at $5.95 in 2018. It edged up 0.2% to $5.96 in 2019, fell 6.5% to $5.57 in 2020 and dropped 16.9% to $4.63 in 2021. Four straight increases of 17.8%, 10.8%, 4.7% and 0.5% brought the 2025 total to $6.36 per share.²

The prospectus names below investment-grade securities risk for JNK: lower-quality debt securities are considered predominantly speculative and can involve a substantially greater risk of default than higher quality debt securities. Issuers of lower-quality debt securities may have substantially greater risk of insolvency or bankruptcy than issuers of higher-quality debt securities. These bonds can be illiquid, and their values can have significant volatility and may decline significantly over short periods of time.¹

The values of the debt securities JNK holds may increase or decrease as a result of market fluctuations, changes in interest rates, actual or perceived inability or unwillingness of issuers, guarantors or liquidity providers to make scheduled principal or interest payments, or illiquidity in debt securities markets.¹

JNK's income may decline due to falling interest rates or other factors. Issuers of securities the fund holds may call or redeem them during periods of falling interest rates, and the fund would likely be required to reinvest in securities paying lower interest rates.¹

Lack of a ready market, stressed market conditions, or restrictions on resale may limit JNK's ability to sell a security at an advantageous time or price or at all.¹

The prospectus lists index tracking risk for JNK: the fund's return may not match the return of the index. SSGA FM may attempt to track the index return by investing in fewer than all of the securities in the index, or in some securities not included in the index, potentially increasing the risk of divergence between the fund's return and that of the index.¹