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SPDR® Blackstone High Income ETF HYBL

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$28.19
as of Jun 20 2024
Base Currency
USD
Assets Under Management
$146.58 M
as of Jun 20 2024
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.70%

Key Features

  • The SPDR® Blackstone High Income ETF is an actively managed strategy that seeks to provide risk-adjusted total return and high current income, with less volatility than the general bond and loan segments over full market cycles
  • HYBL invests in high yield corporate bonds, senior loans, and debt tranches of US collateralized loan obligations (CLOs), utilizing a top-down asset allocation approach to determine the relative weights of each asset class, coupled with a bottom-up security selection process to build the portfolio
  • The top-down asset allocation approach evaluates macroeconomic, technical, fundamental, and relative value factors to determine allocation weights among the asset classes while the bottom-up security selection process relies on fundamental credit research to dictate security selection within each asset class

About the Primary Benchmark

The Bloomberg U.S. Aggregate Bond Index (the "Index") is designed to measure the performance of the U.S. dollar denominated investment grade bond market, which includes investment grade (must be Baa3/BBB- or higher using the middle rating of Moody's Investors Service, Inc., S&P Global Ratings, and Fitch Ratings Inc.) government bonds, investment grade corporate bonds, mortgage pass through securities, commercial mortgage backed securities and other asset backed securities that are publicly for sale in the United States. The securities in the Index must have at least 1 year remaining to maturity and must have $300 million or more of outstanding face value. Asset backed securities must have a minimum deal size of $500 million and a minimum tranche size of $25 million. For commercial mortgage backed securities, the original aggregate transaction must have a minimum deal size of $500 million, and a minimum tranche size of $25 million; the aggregate outstanding transaction sizes must be at least $300 million to remain in the Index. In addition, the securities must be U.S. dollar denominated, fixed rate, non-convertible, and taxable. The Index is market capitalization weighted.

About the Secondary Benchmark

The SPDR Blackstone High Income Composite Index is a 50%/50% blend of the ICE BofA US High Yield Constrained Index and the Morningstar LSTA Leveraged Loan Index.

Fund Information as of Jun 23 2024

Primary Benchmark Bloomberg U.S. Aggregate Bond Index
Secondary Benchmark SPDR Blackstone High Income Composite Index
Inception Date Feb 16 2022
Options Available No
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.70%
Base Currency USD
Administrator State Street Global Advisors Funds Management Inc.
Sub-advisor Blackstone Liquid Credit Strategies LLC
Investment Manager SSGA Funds Management, Inc.
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Listing Information as of Jun 23 2024

Exchange Listing Date Trading Currency Ticker CUSIP ISIN
Cboe BZX Exchange, Inc Feb 17 2022 USD HYBL 78470P846 US78470P8462

Fund Characteristics as of Jun 20 2024

Number of Holdings 536
Average Maturity in Years

Average Maturity

The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

5.34
Weighted Average Spread 3.87
Current 3 month LIBOR 5.61%
Percent of Loans in the Portfolio with LIBOR Floors 60.56%
Weighted Average All in Rate 7.47%
Weighted Average Days to Reset 21
Weighted Average LIBOR Floor 0.61%
Average Price

Average Price The weighted average of each asset’s market price relative to its face value or par value.

$95.71

Yields as of Jun 20 2024

30 Day SEC Yield

30 Day SEC Yield

(Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

6.28%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized)

An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

-
Fund Distribution Yield

Fund Distribution Yield

The sum of the most recent 12 distributions within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

8.20%

Fund Market Price as of Jun 20 2024

Bid/Ask

Bid/Ask Mid Point

(Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

$28.23
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$28.24
Day High $28.24
Day Low $26.98
Exchange Volume (Shares)

Exchange Volume (shares)

Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

2,403
Premium/Discount

Premium/Discount to NAV

Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)

0.14%
30-Day Median Bid/Ask Spread

The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

0.04%

Premium Discount to NAV Graph and Summary

The line graph and table below show historical information about the differences between the daily closing price for shares of the fund (as determined by the fund’s listing exchange) and the fund’s net asset value over certain periods. The vertical axis of the line graph shows the premium/discount expressed as a percentage of NAV. The horizontal axis indicates the date at which the premium/discount occurred. The table shows the number of trading days in which the fund traded at a premium or at a discount to NAV.

Number of Days Summary

Calendar Year 2023 First Quarter of 2024
Days Traded at Premium

Number of days the ETF 4PM Bid/Ask was above the NAV.

153 34
Days Traded at Discount

Number of days the ETF 4PM Bid/Ask was below the NAV.

97 27

Because ETFs trade like stocks at current market prices, shareholders may pay more than a fund’s NAV when purchasing fund shares and may receive less than a fund’s NAV when selling fund shares.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Fund Net Cash Amount as of Jun 20 2024

Net Cash Amount $4,115,373.85

Fund Net Asset Value as of Jun 20 2024

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$28.19
Shares Outstanding 5.20 M
Assets Under Management $146.58 M

Fund Performance

  • Fund Inception Date: Feb 16 2022

as of May 31 2024

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Feb 16 2022
Fund Before Tax
NAV May 31 2024 1.07% 1.18% 3.08% 12.20% - - - 4.30%
Market Value May 31 2024 1.02% 0.83% 3.13% 11.92% - - - 4.33%
Primary Benchmark
Bloomberg U.S. Aggregate Bond Index
May 31 2024 1.70% -0.87% -1.64% 1.31% -3.10% -0.17% 1.26% -2.62%
Secondary Benchmark
SPDR Blackstone High Income Composite Index
May 31 2024 1.04% 0.84% 2.84% 12.24% 4.00% 4.80% 4.44% 5.05%
Fund After Tax
Return after Taxes on Distributions May 31 2024 0.80% 0.62% 1.97% 8.49% - - - 1.43%
Return after Taxes on Distributions and Sale of Fund Shares May 31 2024 0.64% 0.69% 1.81% 7.10% - - - 2.01%
Primary Benchmark
Bloomberg U.S. Aggregate Bond Index
May 31 2024 1.70% -0.87% -1.64% 1.31% -3.10% -0.17% 1.26% -2.62%
Secondary Benchmark
SPDR Blackstone High Income Composite Index
May 31 2024 1.04% 0.84% 2.84% 12.24% 4.00% 4.80% 4.44% 5.05%

as of Mar 31 2024

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Feb 16 2022
Fund Before Tax
NAV Mar 31 2024 1.20% 1.88% 1.88% 10.90% - - - 4.08%
Market Value Mar 31 2024 1.50% 2.28% 2.28% 10.97% - - - 4.27%
Primary Benchmark
Bloomberg U.S. Aggregate Bond Index
Mar 31 2024 0.92% -0.78% -0.78% 1.70% -2.46% 0.36% 1.54% -2.42%
Secondary Benchmark
SPDR Blackstone High Income Composite Index
Mar 31 2024 1.02% 1.98% 1.98% 11.80% 4.14% 4.78% 4.48% 5.05%
Fund After Tax
Return after Taxes on Distributions Mar 31 2024 0.93% 1.33% 1.33% 7.28% - - - 1.24%
Return after Taxes on Distributions and Sale of Fund Shares Mar 31 2024 0.71% 1.11% 1.11% 6.33% - - - 1.86%
Primary Benchmark
Bloomberg U.S. Aggregate Bond Index
Mar 31 2024 0.92% -0.78% -0.78% 1.70% -2.46% 0.36% 1.54% -2.42%
Secondary Benchmark
SPDR Blackstone High Income Composite Index
Mar 31 2024 1.02% 1.98% 1.98% 11.80% 4.14% 4.78% 4.48% 5.05%

Past performance is not a reliable indicator of future performance. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment.  All results are historical and assume the reinvestment of dividends and capital gains. It is not possible to invest directly in an index.

Performance returns for periods of less than one year are not annualized.  Performance is shown net of fees.

Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income as applicable.

The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

Gross Expense Ratio: 0.70%

Top Holdings

Subject to change.

Fund Top Holdings as of Jun 20 2024

Name Par Value Weight
SPDR BX/GSO Sr Loan ETF 126,117 3.70%
Point Au Roche Park CLO, Ltd. 1,480,000 1.03%
Allison Transmission Inc 3.75% 01/30/2031 1,070,000 0.66%
Osaic Holdings Inc aka Advisor Group 08/17/2028 863,047 0.61%
Davita Inc 4.625% 06/01/2030 920,000 0.58%
Xerox Holdings Corp 5.5% 08/15/2028 940,000 0.58%
Fertitta Entertainment LLC aka Golden Nugget LLC 01/27/2029 791,327 0.56%
Ares LXVIII CLO Ltd 750,000 0.55%
Garda World Security Corp 02/01/2029 775,047 0.55%
Sunoco LP / Sunoco Finance Corp 4.5% 05/15/2029 820,000 0.54%
Download All Holdings: Daily

Sector Allocation

Fund Sector Breakdown as of Jun 20 2024

Sector Weight
Sector Weight
Financial Services 10.96%
Capital Goods 10.87%
Software & Services 10.57%
Consumer Services 8.07%
Health Care Equipment & Services 7.67%
Energy 7.64%
Materials 6.62%
Media & Entertainment 5.76%
Commercial & Professional Services 5.27%
Consumer Discretionary Distribution & Retail 4.97%
Consumer Durables & Apparel 3.63%
Insurance 2.57%
Technology Hardware & Equipment 2.32%
Utilities 2.31%
Telecommunication Services 2.18%
Food, Beverage & Tobacco 1.91%
Equity Real Estate Investment Trusts (REITs) 1.60%
Automobiles & Components 1.40%
Transportation 0.99%
Pharmaceuticals, Biotechnology & Life Sciences 0.84%
Real Estate Management & Development 0.80%
Household & Personal Products 0.54%
Banks 0.32%
Semiconductors & Semiconductor Equipment 0.20%

Asset Allocation

Fund Asset Allocation as of Jun 20 2024

Sector Weight
Loan 44.53%
Bond 42.52%
CLO Debt 9.02%
Equity 3.91%
Cash 0.03%

Asset Allocation is a method of diversification which positions assets among major investment categories. Asset Allocation may be used in an effort to manage risk and enhance returns.  It does not, however, guarantee a profit or protect against loss.

Quality Breakdown

Fund Quality Breakdown as of Jun 20 2024

Name Weight
BBB- 0.03%
BB+ 9.99%
BB 15.05%
BB- 10.00%
B+ 14.06%
B 26.36%
B- 20.08%
CCC+ 3.24%
CCC 1.07%
CCC- 0.12%

Maturity Ladder

Fund Maturity Ladder as of Jun 20 2024

Name Weight
0 - 2 Years 0.24%
2 - 5 Years 54.19%
5 - 7 Years 37.54%
7 - 10 Years 7.25%
> 10 Years 0.79%

Purchase Information

Buying and Selling ETFs

ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

Ordinary brokerage commissions may apply.

State Street Global Advisors Funds Distributors, LLC is the distributor for some registered products on behalf of the advisor. SSGA Funds Management has retained Blackstone Liquid Credit Strategies LLC as the sub-advisor. State Street Global Advisors Funds Distributors, LLC is not affiliated with Blackstone Liquid Credit Strategies LLC.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future.

Unless otherwise noted all information contained is that of the SPDR® Blackstone High Income ETF.

As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

Prior to 8/29/2022, the Morningstar LSTA US Leverage Loan Index was known as the S&P/LSTA U.S. Leveraged Loan Index.

All information herein is provided as of the date(s) listed above. Calculations are performed on a trade date basis and are intended to include both settled and unsettled positions. The only exception to this is the calculation of Weighted Average Days to Reset which is performed on a settlement date basis and is intended to include information for settled positions only.