SPDR® Portfolio High
Yield Bond ETF

SPHY

Key Features

Total Return (As of 06/30/2024)•• The SPDR® Portfolio High Yield Bond ETF seeks to provide
investment results that, before fees and expenses, correspondgenerally to the price and yield performance of the ICE BofAUS High Yield Index (the “Index”)•• One of the low cost core SPDR Portfolio ETFs, a suite ofportfolio building blocks designed to provide broad, diversified
exposure to core asset classes•• A low cost ETF that seeks to offer exposure to over a trillion
dollars of USD-denominated high yield debt•• The index includes publicly issued USD high yield bonds witha below investment grade rating, at least 18 months to final
maturity at the time of issuance, at least one year to maturity, a
fixed coupon, and a minimum amount outstanding of $250M
About This Benchmark
The ICE BofA US High Yield Index is market capitalization
weighted and is designed to measure the performance of U.S.
dollar denominated below investment grade (commonly referredto as “junk”) corporate debt publicly issued in the U.S. domestic
market. The Index includes securities rated below investment
grade (based on an average of Moody’s Investors Service, Inc.,
Fitch, Inc., and S&P Global Ratings) with at least 18 months
remaining to final maturity at the time of issuance and at least one
year remaining term to final maturity as of the Index’s rebalancing
date. In addition, individual securities of qualifying issuers musthave a fixed coupon schedule and a minimum amount outstandingof $250 million.
Fund Information
Inception Date

06/18/2012

CUSIP

78468R606

Fact Sheet
Fixed Income
As of 06/30/2024

NAV(%)

Market Value(%)

Index(%)

QTD

1.15

0.94

1.09

YTD

2.62

2.71

2.62

1 Year

10.47

9.97

10.45

3 Year

1.87

1.75

1.65

5 Year

4.07

4.05

3.73

10 Year

4.04

4.01

4.06

Cumulative

Annualized

Gross Expense Ratio (%)

0.05

30 Day SEC Yield (%)

7.91

Past performance is not a reliable indicator of future performance.
Investment return and principal value will fluctuate, so you may have again or loss when shares are sold. Current performance may be higheror lower than that quoted. All results are historical and assume thereinvestment of dividends and capital gains. Visit ssga.com for mostrecent month-end performance. Performance is shown net of fees.
Performance of an index is not illustrative of any particular investment. It
is not possible to invest directly in an index. 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.
Index Change: “Benchmark” reflects linked performance returns of both theICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover
Corporate Index. The index returns are reflective of the ICE BofAML US
Diversified Crossover Corporate Index from fund inception until 4/1/2019 and ofthe ICE BofA US High Yield Index effective 4/1/2019 to present.
Prior to 09/23/2019, the SPDR® Portfolio High Yield Bond ETF was known as theSPDR® ICE BofAML Broad High Yield Bond ETF.
Prior to 09/23/2019, the ticker for SPHY was CJNK.
Effective 04/01/2019, the Fund’s benchmark index changed from the ICE
BofAML US Diversified Crossover Corporate Index (the “Previous BenchmarkIndex”) to the ICE BofA US High Yield Index, consistent with a change in theFund’s principal investment strategy to track the performance of the new index.
Characteristics
Average Yield To Worst

8.06%

Number of Holdings

1,928

Option Adjusted Duration

3.12

Option Adjusted Spread

324.2

Not FDIC Insured. No Bank Guarantee. May Lose Value.

1Top Sectors

Weight (%)

Corporate - Consumer Cyclical

20.51

CORPORATE - COMMUNICATIONS

13.41

CORPORATE - ENERGY

12.70

Corporate - Consumer Non-Cyclical

10.92

Corporate - Capital Goods

9.90

Corporate - Technology

7.69

Corporate - Basic Industry

5.77

Corporate - Finance Companies

3.79

Corporate - Insurance

2.70

Corporate - Electric

2.67

Corporate - Transportation

2.50

Corporate - REITS

2.43

Corporate - Industrial Other

1.42

Corporate - Other Financial

1.41

Corporate - Brokerage Assetmanagers Exchanges

1.14

Corporate - Banking

1.04

Quality Breakdown

Weight (%)

BBB or Higher

0.20

BB

49.51

B

36.62

CCC or Lower

12.76

Not Rated

0.91

Totals may not equal 100 due to rounding.
Maturity Ladder0 - 1 Year

Weight (%)
0.62

1 - 2 Years

7.83

2 - 3 Years

11.56

3 - 5 Years

41.14

5 - 7 Years

27.11

7 - 10 Years

10.11

10 - 15 Years

0.61

15 - 20 Years

0.55

20 - 30 Years

0.42> 30 Years

0.05

2

ssga.com
Information Classification: GeneralState Street Global Advisors
One Iron Street, Boston MA 02210
T: +1 866 787 2257
Glossary
NAV The market value of a mutual fund’s orETFs total assets, minus liabilities, divided bythe number of shares outstanding.
Market Value Determined by the midpoint
between the bid/offer prices as of the closing
time of the New York Stock Exchange (typically
4:00PM EST) on business days.
Gross Expense Ratio The fund’s total
annual operating expense ratio. It is gross ofany fee waivers or expense reimbursements.
It can be found in the fund’s most recentprospectus.
30 Day SEC Yield (Also known asStandardized Yield) An annualized yield thatis calculated by dividing the net investment
income earned by the fund over the mostrecent 30-day period by the current maximum
offering price.
Index Average Yield to Worst The lowest
potential yield that can be received on abond without the issuer actually defaulting.
The YTW is calculated by making worstcase 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 averageof the YTW and market value for eachsecurity is used.
Option Adjusted Duration An optionadjusted 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 +/- 100bps. Incorporates the effect of embedded
options for corporate bonds and changes in
prepayments for mortgage-backed securities.
Option Adjusted Spread A measurement ofa fixed-income security rate and the risk-freerate of return, which is then adjusted to take
into account an embedded option.
Quality Breakdown Bloomberg uses the“middle rating” of Moody’s, S&P, and Fitch todetermine a security’s index classification. If
only two of the agencies rate a security, thenthe most conservative (lowest) rating will beused. If only one rating agency rates a security,that one rating will be used. Where there are
no security level ratings, an issuer rating may
be used to determine index classification.
Bloomberg Index breakdowns are grouped intolarger categories. For example, AAA+ and AAA
are listed as Aaa; AA1, AA2, and AA3 are listed
as Aa, etc.
Important Risk Information
Weights are as of the date indicated, aresubject to change, and should not be relied
upon as current thereafter.
Investing involves risk including the risk of lossof principal.
The information provided does not constituteinvestment advice and it should not be reliedon as such. It should not be considered asolicitation to buy or an offer to sell a security.
It does not take into account any investor's
particular investment objectives, strategies,
tax status or investment horizon. You should
consult your tax and financial advisor.
The whole or any part of this work may not bereproduced, copied or transmitted or any of
its contents disclosed to third parties without
SSGA’s express written consent.
This communication is not intended to be aninvestment recommendation or investment
advice and should not be relied upon as such.
The Fund's investments are subject tochanges in general economic conditions,general market fluctuations and the risks
inherent in investment in securities markets.
Investment markets can be volatile and prices
of investments can change substantially due
to various factors including, but not limited
to, economic growth or recession, changes
in interest rates, changes in the actual orperceived creditworthiness of issuers, andgeneral market liquidity. The Fund is subject
to the risk that geopolitical events will disrupt
securities markets and adversely affect global
economies and markets. Local, regional orglobal events such as war, acts of terrorism,
the spread of infectious illness or otherpublic health issues, or other events could
have a significant impact on the Fund and its

investments.
Investing in high yield fixed income
securities, otherwise known as “junk bonds”,
is considered speculative and involves greaterrisk of loss of principal and interest thaninvesting in investment grade fixed income
securities. These Lower-quality debt securities
involve greater risk of default or price changesdue to potential changes in the credit qualityof 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 orredeemed prior to maturity may be subject toa substantial gain or loss.
The Fund is classified as “diversified” underthe Investment Company Act of 1940, as
amended (the “1940 Act”); however, the Fund
may become “non-diversified,” as defined
under the 1940 Act, solely as a result of
tracking the Index (e.g., changes in weightingsof one or more component securities). When
the Fund is non-diversified, it may invest a
relatively high percentage of its assets in alimited number of issuers.
Passively managed funds invest bysampling the index, holding a range ofsecurities that, in the aggregate, approximates
the full Index in terms of key risk factors andother characteristics. This may cause thefund to experience tracking errors relative toperformance of the index.
While the shares of ETFs are tradable onsecondary markets, they may not readily
trade in all market conditions and may
trade at significant discounts in periods ofmarket stress.
ETFs trade like stocks, are subject toinvestment risk, fluctuate in market value andmay trade at prices above or below the ETFs
net asset value. Brokerage commissions andETF expenses will reduce returns.
Intellectual Property Information: TheS&P 500® Index is a product of S&P Dow Jones
Indices LLC or its affiliates (“S&P DJI”) andhave been licensed for use by State Street
Global Advisors. S&P®, SPDR®, S&P 500®,US500 and the 500 are trademarks of Standard& Poor’s Financial Services LLC (“S&P”); DowJones® is a registered trademark of Dow Jones

3

Trademark Holdings LLC (“Dow Jones”) andhas been licensed for use by S&P Dow Jones
Indices; and these trademarks have been
licensed for use by S&P DJI and sublicensed
for certain purposes by State Street GlobalAdvisors. The fund is not sponsored, endorsed,
sold or promoted by S&P DJI, Dow Jones, S&P,
their respective affiliates, and none of suchparties make any representation regarding
the advisability of investing in such product(s)nor do they have any liability for any errors,omissions, or interruptions of these indices.
“ICE Data” and “the ICE BofA US High Yield
Index” (the “Index”) are trademarks of Ice
Data Indices, LLC or its affiliates, and havebeen licensed for use by SSGA. ICE Data has
not passed on the legality or suitability of,or the accuracy or adequacy of descriptions
and disclosures relating to, the Product,
nor makes any representation or warranty,
express or implied, to the owners of thelicensee’s products or any member of thepublic regarding the licensee’s products orthe advisability of investing in the licensees
products, particularly the ability of the Index totrack performance of any market or strategy.
ICE DATA DOES NOT GUARANTEE THE
ACCURACY AND/OR THE COMPLETENESS OF
THE INDEX OR ANY DATA INCLUDED THEREIN
AND ICE DATA SHALL HAVE NO LIABILITY FOR
ANY ERRORS, OMISSIONS, UNAVAILABILITY,
OR INTERRUPTIONS THEREIN.
Distributor State Street Global Advisors
Funds Distributors, LLC, member FINRA, SIPC,
an indirect wholly owned subsidiary of State
Street Corporation. References to State Street
may include State Street Corporation and its
affiliates. Certain State Street affiliates provide
services and receive fees from the SPDR ETFs.

Before investing, consider thefunds’ investment objectives, risks,charges and expenses. To obtain aprospectus or summary prospectus
which contains this and otherinformation, call 1-866-787-2257 orvisit ssga.com. Read it carefully.
2024 State Street Corporation.
All Rights Reserved.
Tracking Number: 5993755.2.4.AM.RTL
Expiration Date: 10/31/2024
ETF-SPHY 20240715/10:50©