SPDR® Bloomberg High Yield Bond ETF JNK

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.

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.

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.

Non-diversified fund may invest in a relatively small number of issuers, a decline in the market value may affect its value more than if it invested in a larger number of issuers. While the Fund is expected to operate as a diversified fund, it may become non-diversified for periods of time solely as a result of changes in the composition of its benchmark index.

The Fund may not purchase securities of any issuer if, as a result, more than 5% of the Fund’s total assets would be invested in that issuer’s securities; except as may be necessary to approximate the composition of its target index. This limitation does not apply to obligations of the U.S. government or its agencies or instrumentalities.

Passively managed funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.

While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.

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.

$106.97

as of Dec 02 2021

Base Currency

USD

Assets Under Management

$8,736.74 M

as of Dec 02 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.

0.40%


Key Features

Key Features

  • The 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 the Bloomberg High Yield Very Liquid Index (the "Index")
  • Seeks to provide a diversified exposure to US dollar-denominated high yield corporate bonds with above-average liquidity
  • A more cost efficient way to implement a high yield exposure than via individual bonds
  • Rebalanced on the last business day of the month

  • About this Benchmark

    About this Benchmark

    The Bloomberg High Yield Very Liquid Index is designed to measure the performance of publicly issued U.S. dollar denominated high yield corporate bonds with above-average liquidity. High yield securities are generally rated below investment grade and are commonly referred to as "junk bonds." The Index includes publicly issued U.S. dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, but not more than fifteen years, regardless of optionality; are rated high-yield (Ba1/BB+/BB+ or below) using the middle rating of Moody's Investors Service, Inc., Fitch Inc., or Standard & Poor's Financial Services, LLC, respectively; and have $500 million or more of outstanding face value.


    Fund Information as of Dec 03 2021

    Fund Information as of Dec 03 2021
    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 Administrator Investment Manager
    Bloomberg High Yield Very Liquid Index Nov 28 2007 Yes 0.40% USD State Street Global Advisors Funds Management Inc. SSGA Funds Management, Inc.
    Benchmark Bloomberg High Yield Very Liquid Index
    Inception Date Nov 28 2007
    Options Available Yes
    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.

    0.40%
    Base Currency USD
    Administrator State Street Global Advisors Funds Management Inc.
    Investment Manager SSGA Funds Management, Inc.
    Management Team Distributor Distribution Frequency
    Global Fixed Income, Cash and Currency State Street Global Advisors Funds Distributors, LLC Monthly
    Management Team Global Fixed Income, Cash and Currency
    Distributor State Street Global Advisors Funds Distributors, LLC
    Distribution Frequency Monthly

    Listing Information as of Dec 03 2021

    Listing Information as of Dec 03 2021
    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Nov 28 2007 USD JNK 78468R622 US78468R6229
    Exchange NYSE ARCA EXCHANGE
    Listing Date Nov 28 2007
    Trading Currency USD
    Ticker JNK
    CUSIP 78468R622
    ISIN US78468R6229

    Fund Characteristics as of Dec 02 2021

    Fund Characteristics as of Dec 02 2021
    Number of Holdings Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    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.

    Average Price Average Yield To Worst

    The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

    Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    Option Adjusted Duration

    Option Adjusted Duration

    An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

    1,352 5.58% 6.21 $101.51 4.85% 5.50% 3.76 years
    Number of Holdings 1,352
    Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    5.58%
    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.

    6.21
    Average Price $101.51
    Average Yield To Worst

    The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

    4.85%
    Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    5.50%
    Option Adjusted Duration

    Option Adjusted Duration

    An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

    3.76 years
    Option Adjusted Spread Yield to Maturity

    Yield to Maturity

    The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

    330.49 5.23%
    Option Adjusted Spread 330.49
    Yield to Maturity

    Yield to Maturity

    The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

    5.23%

    Index Characteristics as of Dec 02 2021

    Index Characteristics as of Dec 02 2021
    Number of Holdings Average Coupon Average Maturity in Years Average Price Average Yield To Worst Current Yield Option Adjusted Duration
    1,271 5.55% 6.26 $101.82 4.78% 5.46% 3.81 years
    Number of Holdings 1,271
    Average Coupon 5.55%
    Average Maturity in Years 6.26
    Average Price $101.82
    Average Yield To Worst 4.78%
    Current Yield 5.46%
    Option Adjusted Duration 3.81 years
    Option Adjusted Spread Yield to Maturity
    324.03 5.16%
    Option Adjusted Spread 324.03
    Yield to Maturity 5.16%

    Yields as of Dec 02 2021

    Yields as of Dec 02 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.

    4.20% - 4.37%
    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.

    4.20%
    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.

    4.37%

    Fund Market Price as of Dec 02 2021

    Fund Market Price as of Dec 02 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.

    $107.30 $107.29 $107.36 $106.59 2,294,685 0.30% 0.01%
    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.

    $107.30
    Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    $107.29
    Day High $107.36
    Day Low $106.59
    Exchange Volume (Shares)

    Exchange Volume (shares)

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

    2,294,685
    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)

    0.30%
    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.

    0.01%
    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 Third Quarter of 2021
    Days Traded at Premium

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

    161 42 55 51
    Days Traded at Discount

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

    92 19 8 13
    Days Traded at Premium

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

    Calendar Year 2020 161
    First Quarter of 2021 42
    Second Quarter of 2021 55
    Third Quarter of 2021 51
    Days Traded at Discount

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

    Calendar Year 2020 92
    First Quarter of 2021 19
    Second Quarter of 2021 8
    Third Quarter of 2021 13
    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 Dec 02 2021

    Fund Net Cash Amount as of Dec 02 2021
    Net Cash Amount
    $76,436,105.55
    Net Cash Amount $76,436,105.55

    Fund Net Asset Value as of Dec 02 2021

    Fund Net Asset Value as of Dec 02 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
    $106.97 81.67 M $8,736.74 M
    NAV

    NAV

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

    $106.97
    Shares Outstanding 81.67 M
    Assets Under Management $8,736.74 M
    Most Recent NAV / NAV History

    Fund Performance

    Fund Performance

    • Fund Inception Date: Nov 28 2007

    as of Oct 31 2021

    as of Sep 30 2021

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Nov 28 2007
    Fund Before Tax
    NAV Oct 31 2021 -0.35% -0.35% 3.30% 9.10% 6.38% 5.42% 5.29% 5.47%
    Market Value Oct 31 2021 -0.34% -0.34% 2.92% 8.81% 6.35% 5.46% 5.27% 5.47%
    Bloomberg High Yield Very Liquid Index Oct 31 2021 -0.34% -0.34% 3.44% 9.22% 6.98% 5.93% 6.23% 7.19%
    Fund After Tax
    Return after Taxes on Distributions Oct 31 2021 -0.50% -0.50% 1.96% 7.16% 4.16% 3.11% 2.79% 2.59%
    Return after Taxes on Distributions and Sale of Fund Shares Oct 31 2021 -0.21% -0.21% 1.94% 5.36% 3.92% 3.12% 2.94% 2.89%
    Bloomberg High Yield Very Liquid Index Oct 31 2021 -0.34% -0.34% 3.44% 9.22% 6.98% 5.93% 6.23% 7.19%
    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Nov 28 2007
    Fund Before Tax
    NAV Sep 30 2021 -0.08% 0.66% 3.66% 9.84% 5.84% 5.49% 6.09% 5.53%
    Market Value Sep 30 2021 -0.25% 0.50% 3.27% 9.69% 5.76% 5.36% 6.15% 5.53%
    Bloomberg High Yield Very Liquid Index Sep 30 2021 -0.07% 0.74% 3.79% 9.97% 6.47% 6.02% 7.09% 7.27%
    Fund After Tax
    Return after Taxes on Distributions Sep 30 2021 -0.22% 0.23% 2.47% 7.85% 3.62% 3.16% 3.57% 2.64%
    Return after Taxes on Distributions and Sale of Fund Shares Sep 30 2021 -0.05% 0.39% 2.16% 5.79% 3.49% 3.16% 3.58% 2.94%
    Bloomberg High Yield Very Liquid Index Sep 30 2021 -0.07% 0.74% 3.79% 9.97% 6.47% 6.02% 7.09% 7.27%

    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: 0.40%


    Top Holdings

    Subject to change.

    Top Holdings

    Subject to change.

    Fund Top Holdingsas of Dec 02 2021
    Index Top Holdingsas of Dec 02 2021

    Fund Top Holdings as of Dec 02 2021

    Name Market Value ISIN Weight
    TRANSDIGM INC 6.25 03/15/2026 35,098,273.40 US893647BE67 0.41%
    MOZART DEBT MERGER SUB 3.875 33,919,840.43 - 0.39%
    CAESARS ENTERTAIN INC 6.25 07/01/2025 29,332,589.86 US28470RAH57 0.34%
    CENTENE CORP 4.625 12/15/2029 27,597,307.77 US15135BAT89 0.32%
    AMERICAN AIRLINES/AADVAN 5.5 04/20/2026 27,053,043.37 US00253XAA90 0.31%
    CARNIVAL CORP 5.75 03/01/2027 26,823,393.71 US143658BN13 0.31%
    CCO HLDGS LLC/CAP CORP 5.125 05/01/2027 25,246,085.44 US1248EPBT92 0.29%
    AMERICAN AIRLINES INC 11.75 07/15/2025 23,531,849.25 US023771S586 0.27%
    AMERICAN AIRLINES/AADVAN 5.75 04/20/2029 23,382,265.88 US00253XAB73 0.27%
    CCO HLDGS LLC/CAP CORP 4.75 03/01/2030 23,230,045.66 US1248EPCD32 0.27%

    Index Top Holdings as of Dec 02 2021

    Name ISIN Weight
    TRANSDIGM INC 6.25 03/15/2026 US893647BE67 0.41%
    MOZART DEBT MERGER SUB 3.875 04/01/2029 US62482BAA08 0.39%
    CENTENE CORP 4.625 12/15/2029 US15135BAT89 0.33%
    CAESARS ENTERTAIN INC 6.25 07/01/2025 US28470RAH57 0.32%
    AMERICAN AIRLINES/AADVAN 5.5 04/20/2026 US00253XAA90 0.32%
    CARNIVAL CORP 5.75 03/01/2027 US143658BN13 0.30%
    CCO HLDGS LLC/CAP CORP 5.125 05/01/2027 US1248EPBT92 0.28%
    AMERICAN AIRLINES/AADVAN 5.75 04/20/2029 US00253XAB73 0.28%
    AMERICAN AIRLINES INC 11.75 07/15/2025 US023771S586 0.28%
    CCO HLDGS LLC/CAP CORP 4.75 03/01/2030 US1248EPCD32 0.27%

    Sector Allocation

    Sector Allocation
    Fund Sector Breakdownas of Dec 02 2021
    Index Sector Breakdownas of Dec 02 2021

    Fund Sector Breakdown as of Dec 02 2021

    Sector Weight
    Corporate - Consumer Cyclical 20.26%
    CORPORATE - COMMUNICATIONS 16.98%
    Corporate - Consumer Non-Cyclical 14.26%
    CORPORATE - ENERGY 12.84%
    Corporate - Capital Goods 8.49%
    Corporate - Technology 6.19%
    Corporate - Basic Industry 4.27%
    Corporate - Finance Companies 2.87%
    Corporate - Insurance 2.72%
    Corporate - Transportation 2.62%
    Corporate - Electric 2.46%
    Corporate - REITS 1.85%
    Corporate - Other Financial 1.23%
    Corporate - Industrial Other 1.14%
    Corporate - Brokerage Assetmanagers Exchanges 0.80%
    Corporate - Banking 0.78%
    OTHER 0.23%

    Index Sector Breakdown as of Dec 02 2021

    Sector Weight
    Corporate - Consumer Cyclical 20.21%
    CORPORATE - COMMUNICATIONS 17.08%
    Corporate - Consumer Non-Cyclical 14.42%
    CORPORATE - ENERGY 12.37%
    Corporate - Capital Goods 8.42%
    Corporate - Technology 6.83%
    Corporate - Basic Industry 4.28%
    Corporate - Finance Companies 2.84%
    Corporate - Insurance 2.77%
    Corporate - Transportation 2.57%
    Corporate - Electric 2.50%
    Corporate - REITS 1.79%
    Corporate - Other Financial 1.23%
    Corporate - Industrial Other 1.08%
    Corporate - Banking 0.84%
    Corporate - Brokerage Assetmanagers Exchanges 0.78%

    Quality Breakdown

    Quality Breakdown
    Fund Quality Breakdownas of Dec 02 2021
    Index Quality Breakdownas of Dec 02 2021

    Fund Quality Breakdown as of Dec 02 2021

    Name Weight
    BBB or Higher 0.25%
    BB 49.00%
    B 38.81%
    CCC or Lower 11.74%
    Not Rated 0.20%

    Index Quality Breakdown as of Dec 02 2021

    Name Weight
    BB 50.11%
    B 38.13%
    CCC or Lower 11.76%

    Maturity Ladder

    Maturity Ladder
    Fund Maturity Ladderas of Dec 02 2021
    Index Maturity Ladderas of Dec 02 2021

    Fund Maturity Ladder as of Dec 02 2021

    Name Weight
    0 - 1 Year 0.24%
    1 - 2 Years 1.36%
    2 - 3 Years 2.59%
    3 - 5 Years 25.17%
    5 - 7 Years 32.82%
    7 - 10 Years 35.59%
    10 - 15 Years 2.16%

    Index Maturity Ladder as of Dec 02 2021

    Name Weight
    1 - 2 Years 1.44%
    2 - 3 Years 2.30%
    3 - 5 Years 24.51%
    5 - 7 Years 32.68%
    7 - 10 Years 36.76%
    10 - 15 Years 2.31%

    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.


    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 herein is that of the SPDR® Bloomberg High Yield Bond 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.

    "Bloomberg®" and Bloomberg High Yield Very Liquid Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain purposes by State Street Global Advisors. Bloomberg is not affiliated with State Street Global Advisors, and Bloomberg does not approve, endorse, review, or recommend SPDR Bloomberg High Yield Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR Bloomberg High Yield Bond ETF.

    Prior to 10/31/2021, the SPDR Bloomberg High Yield Bond ETF was known as the SPDR Bloomberg Barclays High Yield Bond ETF.

    Prior to 8/24/2021, the Bloomberg High Yield Very Liquid Index was known as the Bloomberg Barclays High Yield Very Liquid Index.