SPDR® Blackstone Senior Loan ETF SRLN

Important Risk Disclosure

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.

Actively managed ETFs do not seek to replicate the performance of a specified index. These investments may have difficulty in liquidating an investment position without taking a significant discount from current market value, which can be a significant problem with certain lightly traded securities. The Fund is actively managed and may underperform its benchmarks. An investment in the fund is not appropriate for all investors and is not intended to be a complete investment program. Investing in the fund involves risks, including the risk that investors may receive little or no return on the investment or that investors may lose part or even all of the investment.

Investments in Senior Loans are subject to credit risk and general investment risk. Credit risk refers to the possibility that the borrower of a Senior Loan will be unable and/or unwilling to make timely interest payments and/or repay the principal on its obligation. Default in the payment of interest or principal on a Senior Loan will result in a reduction in the value of the Senior Loan and consequently a reduction in the value of the Portfolio’s investments and a potential decrease in the net asset value (“NAV”) of the Portfolio.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

Investing in high yield fixed income securities, otherwise known as “junk bonds”, is considered speculative and involves greater risk of loss of principal and interest than investing in investment grade fixed income securities. These Lower-quality debt securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Intellectual Property Information: Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

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.

NAV

NAV

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

$46.06

as of Sep 27 2021

Base Currency

USD

Assets Under Management

$7,657.62 M

as of Sep 27 2021

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

Key Features

  • The SPDR Blackstone Senior Loan ETF (the “Fund”) seeks to provide current income consistent with the preservation of capital.  In pursuing its investment objective, the Fund seeks to outperform the Markit iBoxx USD Liquid Leveraged Loan Index (the “Primary Index”) and the S&P/LSTA U.S. Leveraged Loan 100 Index (the “Secondary Index”) by normally investing at least 80% of its net assets (plus any borrowings for investment purposes) in Senior Loans. For purposes of this 80% test, “Senior Loans” are first lien senior secured floating rate bank loans.
  • Access the investment management experience of Blackstone
  • Seeks to provide access to active management in the highly inefficient loan market
  • A Senior Loan is senior to all unsecured claims against the borrower and senior or equal to all other secured claims, meaning that, in the event of a bankruptcy, the Senior Loan, together with other first lien claims, is entitled to be the first to be repaid out of proceeds of the assets securing the loans, before other existing claims or interests receive repayment

About the Primary Benchmark

About the Primary Benchmark

The Markit iBoxx USD Liquid Leveraged Loan Index is comprised of about 100 of the most liquid, tradable leveraged loans, as identified by Markit’s Loans Liquidity service. Markit is dedicated to utilising its unique datasets on loans to become the premier provider of independent and objective loan indices for trading, product structuring, and benchmarking.


About the Secondary Benchmark

About the Secondary Benchmark

The S&P/LSTA U.S. Leveraged Loan 100 Index is designed to reflect the largest facilities in the leveraged loan market. It mirrors the market-weighted performance of the largest institutional leveraged loans based upon market weightings, spreads, and interest payments. The index consists of 100 loan facilities drawn from a larger benchmark, the S&P/LSTA (Loan Syndications and Trading Association) Leveraged Loan Index (LLI).


Fund Information as of Sep 28 2021

Fund Information as of Sep 28 2021
Primary Benchmark Secondary Benchmark Inception Date Options Available 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.

Base Currency Sub-advisor
Markit iBoxx USD Liquid Leveraged Loan Index S&P/LSTA U.S. Leveraged Loan 100 Index Apr 03 2013 No 0.70% USD Blackstone Liquid Credit Strategies LLC
Primary Benchmark Markit iBoxx USD Liquid Leveraged Loan Index
Secondary Benchmark S&P/LSTA U.S. Leveraged Loan 100 Index
Inception Date Apr 03 2013
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
Sub-advisor Blackstone Liquid Credit Strategies LLC
Investment Manager Distributor Distribution Frequency
SSGA Funds Management, Inc. State Street Global Advisors Funds Distributors, LLC Monthly
Investment Manager SSGA Funds Management, Inc.
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Listing Information as of Sep 28 2021

Listing Information as of Sep 28 2021
Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Apr 04 2013 USD SRLN 78467V608 US78467V6083
Exchange NYSE ARCA EXCHANGE
Listing Date Apr 04 2013
Trading Currency USD
Ticker SRLN
CUSIP 78467V608
ISIN US78467V6083

Fund Characteristics as of Sep 24 2021

Fund Characteristics as of Sep 24 2021
Number of Holdings 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.

Current 3 month LIBOR Percent of Loans in the Portfolio with LIBOR Floors Weighted Average All in Rate Weighted Average Days to Reset Weighted Average LIBOR Floor
303 5.08 0.13% 76.21% 4.67% 25 0.80%
Number of Holdings 303
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.

5.08
Current 3 month LIBOR 0.13%
Percent of Loans in the Portfolio with LIBOR Floors 76.21%
Weighted Average All in Rate 4.67%
Weighted Average Days to Reset 25
Weighted Average LIBOR Floor 0.80%
Weighted Average Price
$99.01
Weighted Average Price $99.01

Index Characteristics as of Sep 28 2021

Index Characteristics as of Sep 28 2021
Primary Benchmark Index Ticker Symbol Secondary Benchmark Index Ticker Symbol Primary Benchmark Number of Holdings Secondary Benchmark Number of Holdings
IBOXLCPI SPBDLL 89 100
Primary Benchmark Index Ticker Symbol IBOXLCPI
Secondary Benchmark Index Ticker Symbol SPBDLL
Primary Benchmark Number of Holdings 89
Secondary Benchmark Number of Holdings 100

Yields as of Sep 27 2021

Yields as of Sep 27 2021
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.

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.

3.72% - 4.49%
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.

3.72%
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.

4.49%

Fund Market Price as of Sep 27 2021

Fund Market Price as of Sep 27 2021
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.

Closing Price

Closing Price

Market Price of last reported trade on the exchange.

Day High Day Low Exchange Volume (Shares)

Exchange Volume (shares)

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

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)

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.

$46.05 $46.06 $46.07 $46.04 64,614 -0.02% 0.02%
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.

$46.05
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$46.06
Day High $46.07
Day Low $46.04
Exchange Volume (Shares)

Exchange Volume (shares)

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

64,614
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)

-0.02%
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.

0.02%
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.

x axis: Dates
y axis: Premium or Discount (bps)
Number of Days Summary
Calendar Year 2020 First Quarter of 2021 Second Quarter of 2021
Days Traded at Premium

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

99 11 10
Days Traded at Discount

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

154 50 53
Days Traded at Premium

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

Calendar Year 2020 99
First Quarter of 2021 11
Second Quarter of 2021 10
Days Traded at Discount

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

Calendar Year 2020 154
First Quarter of 2021 50
Second Quarter of 2021 53
Fund Data

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 Sep 27 2021

Fund Net Cash Amount as of Sep 27 2021
Net Cash Amount
$88,897,631.94
Net Cash Amount $88,897,631.94

Fund Net Asset Value as of Sep 27 2021

Fund Net Asset Value as of Sep 27 2021
NAV

NAV

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

Shares Outstanding Assets Under Management
$46.06 166.25 M $7,657.62 M
NAV

NAV

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

$46.06
Shares Outstanding 166.25 M
Assets Under Management $7,657.62 M
Most Recent NAV / NAV History

Fund Performance

Fund Performance

  • Fund Inception Date: Apr 03 2013

as of Aug 31 2021

as of Jun 30 2021

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Apr 03 2013
Fund Before Tax
NAV Aug 31 2021 0.48% -0.05% 3.79% 7.49% 4.22% 4.25% - 3.26%
Market Value Aug 31 2021 0.67% 0.03% 3.31% 7.32% 4.22% 4.25% - 3.27%
Markit iBoxx USD Liquid Leveraged Loan Index
Primary Index
Aug 31 2021 0.54% 0.10% 1.98% 5.39% 2.52% 3.00% 3.88% 2.72%
S&P/LSTA U.S. Leveraged Loan 100 Index
Secondary Index
Aug 31 2021 0.60% 0.34% 2.52% 6.00% 3.94% 4.25% 4.61% 3.55%
Fund After Tax
Return after Taxes on Distributions Aug 31 2021 0.33% -0.35% 2.71% 5.49% 2.09% 2.25% - 1.45%
Return after Taxes on Distributions and Sale of Fund Shares Aug 31 2021 0.28% -0.03% 2.24% 4.40% 2.30% 2.36% - 1.66%
Markit iBoxx USD Liquid Leveraged Loan Index
Primary Index
Aug 31 2021 0.54% 0.10% 1.98% 5.39% 2.52% 3.00% 3.88% 2.72%
S&P/LSTA U.S. Leveraged Loan 100 Index
Secondary Index
Aug 31 2021 0.60% 0.34% 2.52% 6.00% 3.94% 4.25% 4.61% 3.55%
As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Apr 03 2013
Fund Before Tax
NAV Jun 30 2021 0.73% 2.09% 3.84% 11.97% 4.66% 4.64% - 3.34%
Market Value Jun 30 2021 0.63% 2.26% 3.27% 12.00% 4.69% 4.60% - 3.33%
Markit iBoxx USD Liquid Leveraged Loan Index
Primary Index
Jun 30 2021 0.04% 0.78% 1.88% 8.85% 2.97% 3.48% 3.32% 2.76%
S&P/LSTA U.S. Leveraged Loan 100 Index
Secondary Index
Jun 30 2021 0.12% 1.13% 2.17% 9.37% 4.30% 4.67% 4.06% 3.58%
Fund After Tax
Return after Taxes on Distributions Jun 30 2021 0.58% 1.63% 3.07% 9.83% 2.52% 2.63% - 1.52%
Return after Taxes on Distributions and Sale of Fund Shares Jun 30 2021 0.43% 1.23% 2.27% 7.02% 2.63% 2.66% - 1.72%
Markit iBoxx USD Liquid Leveraged Loan Index
Primary Index
Jun 30 2021 0.04% 0.78% 1.88% 8.85% 2.97% 3.48% 3.32% 2.76%
S&P/LSTA U.S. Leveraged Loan 100 Index
Secondary Index
Jun 30 2021 0.12% 1.13% 2.17% 9.37% 4.30% 4.67% 4.06% 3.58%

Performance quoted represents past performance, which is no guarantee of future results. 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.  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.

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.

Top Holdings

Subject to change.

Fund Top Holdingsas of Sep 27 2021

Fund Top Holdings as of Sep 27 2021

Name Par Value Weight
Lower Cadence Holdings LLC aka Oryx Midstream 05/22/2026 165,057,608 2.17%
Change Healthcare Holdings LLC 03/01/2024 164,033,572 2.16%
Envision Healthcare Corp 10/10/2025 164,506,863 1.93%
Directv Financing LLC 08/02/2027 138,042,000 1.82%
Endurance International Group Holdings, Inc. aka Endure Digital Inc 02/10/2028 118,356,860 1.55%
Crown Finance US Inc aka Cineworld 02/28/2025 137,764,629 1.46%
AMC Entertainment Holdings Inc 04/22/2026 112,697,095 1.38%
Golden Nugget LLC aka Landry's Restaurant 10/04/2023 102,658,625 1.34%
Finastra USA Inc aka Misys/Almonde Inc. 06/13/2024 102,083,839 1.33%
Radiate Holdco LLC aka RCN/Grande/RCN Grande Wave 09/25/2026 95,674,216 1.26%

Sector Allocation

Sector Allocation
Fund Sector Breakdownas of Sep 24 2021

Fund Sector Breakdown as of Sep 24 2021

Sector Weight
Services: Business (23) 14.03%
Technology: Semiconductor (40) 12.78%
Healthcare & Pharmaceuticals (15) 9.54%
Banking, Finance, Insurance & Real Estate (3) 7.85%
Telecommunications (26) 6.18%
Services: Consumer (24) 4.27%
High Tech Industries (16) 4.21%
Energy: Oil & Gas (12) 4.09%
Retail (22) 3.95%
Transportation: Consumer (28) 3.91%
Leisure & Entertainment: Movie Theatres (39) 3.65%
Media: Cable TV (41) 3.32%
Diversified Conglomerate / Manufacturing (34) 2.98%
Construction & Building (7) 2.59%
Hotel, Gaming & Leisure (17) 2.07%
Aerospace & Defense (1) 1.98%
Chemicals, Plastics, & Rubber (6) 1.68%
Containers, Packaging & Glass (10) 1.61%
Media: Advertising, Printing & Publishing (18) 1.52%
Transportation: Cargo (27) 1.49%
Leisure & Entertainment: Amusement Parks (38) 1.44%
Consumer goods: Durable (8) 1.40%
Automotive (2) 0.76%
Media: Broadcasting & Subscription (19) 0.69%
Restaurants: Family Dining (42) 0.58%
Diversified Conglomerate / Service (37) 0.36%
Environmental Industries (13) 0.27%
Consumer goods: Non-durable (9) 0.27%
Beverage, Food & Tobacco (4) 0.21%
Metals & Mining (21) 0.12%
Capital Equipment (5) 0.10%
Food and Miscellaneous Services (36) 0.06%
Energy: Electricity (11) 0.05%

Asset Allocation

Asset Allocation
Fund Asset Allocationas of Sep 24 2021

Fund Asset Allocation as of Sep 24 2021

Sector Weight
Loans 92.46%
Bonds 6.97%
Cash 0.57%

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

Quality Breakdown

S&P Fund Quality Breakdown as of Sep 24 2021

Name Weight
BBB+ 0.08%
BBB- 0.36%
BB+ 0.00%
BB 2.20%
BB- 3.61%
B+ 5.99%
B 31.58%
B- 38.98%
CCC+ 10.92%
CCC 4.51%
CCC- 0.51%
NR 0.94%

Moody's Fund Quality Breakdown as of Sep 24 2021

Name Weight
Baa1 0.08%
Baa3 0.36%
Ba1 1.26%
Ba2 1.93%
Ba3 4.78%
B1 13.08%
B2 46.21%
B3 18.91%
Caa1 5.12%
Caa2 5.99%
Caa3 1.61%

Maturity Ladder

Maturity Ladder
Fund Maturity Ladderas of Sep 24 2021

Fund Maturity Ladder as of Sep 24 2021

Name Weight
0 - 2 Years 1.10%
2 - 5 Years 43.90%
5 - 7 Years 50.14%
7 - 10 Years 4.86%
10.01+ Years 0.00%

Purchase Information

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.


Fund Footnotes

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 Senior Loan 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 02/26/2021, the SPDR® Blackstone Senior Loan ETF was known as the SPDR® Blackstone / GSO Senior Loan ETF.

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.