Fact Sheet
Fixed IncomeSPDR® BlackstoneHigh Income ETF

HYBL

Key Features

About The Secondary Benchmark•• 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 thegeneral bond and loan segments over full market cycles•• HYBL invests in high yield corporate bonds, senior loans, anddebt 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 bottomup security selection process to build the portfolio•• The top-down asset allocation approach evaluatesmacroeconomic, 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

The SPDR Blackstone High Income Composite Index is a50%/50% blend of the ICE BofA US High Yield Constrained Index
and the Morningstar LSTA Leveraged Loan Index.

As of 06/30/2024

Fund Information
Inception Date

02/16/2022

CUSIP

78470P846

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 andmust 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. Forcommercial mortgage backed securities, the original aggregatetransaction must have a minimum deal size of $500 million, anda minimum tranche size of $25 million; the aggregate outstandingtransaction sizes must be at least $300 million to remain in theIndex. In addition, the securities must be U.S. dollar denominated,
fixed rate, non-convertible, and taxable. The Index is market
capitalization weighted.

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

1Top 10 Holdings

CouponSPDR BX/GSO SR LOAN ETF

Maturity Date

Weight (%)

N/A

3.60

POINT AU ROCHE PARK CLO, LTD.

11.6862

07/20/2034

1.00

ALLISON TRANSMISSION INC

3.75

01/30/2031

0.64

OSAIC HOLDINGS INC AKA ADVISOR GROUP

9.343808/17/2028

0.59

DAVITA INC

4.625

06/01/2030

0.57

ALLY FINANCIAL INC AKA ALLY

6.702/14/2033

0.56

XEROX HOLDINGS CORP

5.508/15/2028

0.55

FERTITTA ENTERTAINMENT LLC AKA GOLDEN NUGGET LLC

9.080701/27/2029

0.54

ARES LXVIII CLO LTD

13.8736

04/25/2035

0.54

GARDA WORLD SECURITY CORP

9.594

02/01/2029

0.53

Totals may not equal 100 due to rounding.
Total Return (As of 06/30/2024)

Characteristics
NAV(%)

Market Value(%)

Cumulative
QTD

1.82

1.61

YTD

3.74

3.93

Annualized

Average Maturity in Years

5.39

Current 3 month LIBOR

5.59%

Number of Holdings

532

Percent of Loans in the Portfolio with LIBOR
Floors

59.38%

Weighted Average All in Rate

7.42%

1 Year

10.95

10.77

Weighted Average Days to Reset45

3 YearN/A

N/A

Weighted Average LIBOR Floor

0.61%

5 YearN/A

N/A

Average Price$95.44Since Fund Inception

4.43

4.52

Index

Primary (%)1

Secondary (%)2

QTD

0.07

1.50

YTD

-0.71

3.51

1 Year

2.63

10.82

3 Year

-3.02

3.93

5 Year

-0.23

4.65

Since Fund Inception

-2.14

5.16

Asset Class Breakdown

Weight (%)

Bond44.29

Loan44.15

CLO Debt

7.74

Equity3.81

Quality Breakdown

Weight (%)

BBB-0.03
10.55

Gross Expense Ratio (%)

0.70

BB+30 Day SEC Yield (%)

6.90

BB

15.29

Past performance is not a reliable indicator of future performance.
Investment return and principal value will fluctuate, so you may have a gainor loss when shares are sold. Current performance may be higher or lower
than that quoted. All results are historical and assume the reinvestment
of dividends and capital gains. Visit ssga.com for most recent 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 thededuction of any fees or expenses. Index returns reflect all items of income,gain and loss and the reinvestment of dividends and other income asapplicable.
1 Primary Benchmark is Bloomberg U.S. Aggregate Bond Index.
2 Secondary Benchmark is SPDR Blackstone High Income Composite Index.

BB-

10.27

B+

14.15

B

26.41

B-

18.86

CCC+

3.11

CCC

1.21

CCC-

0.11

Totals may not equal 100 due to rounding.

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 by
the 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 (typically4:00PM 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 recent
prospectus.
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.
Average Maturity in Years The market
value-weighted average maturity of the bonds
and loans in a portfolio, where maturity isdefined as the stated final for bullet maturity
bonds and loans.
Current 3 month LIBOR Current 3 month
LIBOR (London Interbank Offered Rate) is theaverage interest rate estimated by leadingbanks in London that they would be charged
if borrowing from other banks with a maturityof 3 months.
Percent of Loans in the Portfolio with
LIBOR Floors The percentage of loans in theoverall portfolio that contain a LIBOR Floor.
A loan is issued with a LIBOR Floor to ensure
the base rate does not fall below a set rate in a
low or falling interest rate environment. This
provides investors with protection against
falling rates.
Weighted Average All in Rate The
weighted average interest rate earned oneach asset in the portfolio, expressed as apercentage.
Weighted Average Days to Reset The
weighted average of the number of days until
the floating coupon rates of each loan arereset to reflect the current LIBOR base rate onreset date.
Weighted Average LIBOR Floor The
weighted average of the LIBOR base rate ofeach loan in the portfolio with a set floor.

Weighted Average Price The weighted
average of each asset’s market price relative toits face value or par value.
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 ofits contents disclosed to third parties withoutSSGA’s express written consent.
This communication is not intended to be an
investment 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 or
global 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.
Actively managed ETFs do not seek toreplicate the performance of a specified index.
These investments may have difficulty inliquidating an investment position without
taking a significant discount from current
market value, which can be a significant
problem with certain lightly tradedsecurities. 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 acomplete investment program. Investing in
the fund involves risks, including the risk thatinvestors may receive little or no return on theinvestment or that investors may lose part oreven all of the investment.
Investments in Senior Loans are subject tocredit risk and general investment risk. Credit
risk refers to the possibility that the borrowerof a Senior Loan will be unable and/or unwillingto make timely interest payments and/or repay
the principal on its obligation. Default in thepayment of interest or principal on a Senior
Loan will result in a reduction in the value ofthe Senior Loan and consequently a reductionin the value of the Portfolio’s investments anda 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. Theseeffects are usually pronounced for longer-term
securities. Any fixed income security sold orredeemed prior to maturity may be subject toa substantial gain or loss.
Investing in high yield fixed income securities,
otherwise known as “junk bonds”, isconsidered 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 changes
due to potential changes in the credit qualityof the issuer.
The values of debt securities may increaseor decrease as a result of the following: market
fluctuations, changes in interest rates, actualor perceived inability or unwillingness ofissuers, guarantors or liquidity providers tomake scheduled principal or interest payments
or illiquidity in debt securities markets; therisk of low rates of return due to reinvestment
of securities during periods of falling interest
rates or repayment by issuers with higher
coupon or interest rates; and/or the risk of low
income due to falling interest rates.
Non-diversified funds that focus on arelatively small number of securities tend to
be more volatile than diversified funds and the3market as a whole.
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 ETFsnet 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®,US
500 and the 500 are trademarks of Standard& Poor’s Financial Services LLC (“S&P”); DowJones® is a registered trademark of Dow Jones
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.
Distributor State Street Global Advisors
Funds Distributors, LLC, member FINRA,SIPC, an indirect wholly owned subsidiary ofState Street Corporation. References to State
Street may include State Street Corporationand its affiliates. Certain State Street affiliates
provide services and receive fees from theSPDR ETFs. State Street Global Advisors Funds
Distributors, LLC is the distributor for certain
registered products on behalf of the advisor.
SSGA Funds Management has retainedBlackstone Liquid Credit Strategies LLC as
the sub-advisor. State Street Global Advisors
Funds Distributors, LLC is not affiliated withBlackstone Liquid Credit Strategies LLC.

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: 5856128.1.6.AM.RTL
Expiration Date: 10/31/2024
ETF-HYBL 20240715/10:43©