The SPDR Blackstone / GSO Senior Loan ETF (the "Fund") seeks to provide current income consistent with the preservation of capital. The Fund invests substantially all of its assets in the Blackstone / GSO Senior Loan Portfolio, a separate series of the SSgA Master Trust with an identical investment objective as the Fund. As a result, the Fund invests indirectly through the Portfolio. In pursuing its investment objective, the Portfolio 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.
Ordinary brokerage commissions may apply.
|Primary Benchmark||Markit iBoxx USD Liquid Leveraged Loan Index|
|Secondary Benchmark||S&P/LSTA U.S. Leveraged Loan 100 Index|
|Gross Expense Ratio||0.90%|
|Net Expense Ratio||N/A|
|Investment Manager||State Street Global Advisors|
|Sub-advisor||GSO / Blackstone Debt Funds Management LLC|
|Distributor||State Street Global Markets, LLC|
|Exchange||NYSE ARCA EXCHANGE|
|Variable Fee for Cash Creation||.15%|
|Variable Fee for Cash Redemption||.25%|
|Current 3 month LIBOR||0.23%|
|Number of Holdings||186|
|Weighted Average 3 month LIBOR Base Rate||0.98%|
|Weighted Average All in Rate||4.31%|
|Weighted Average Days to Reset||73|
|Weighted Average Price||$100.38|
|30 Day SEC Yield||2.75%|
|Primary Benchmark Index Ticker Symbol||IBXXLLTR|
|Secondary Benchmark Index Ticker Symbol||SPBDLL|
|Primary Benchmark Number of Holdings||97|
|Secondary Benchmark Number of Holdings||100|
As of 02/28/2014
As of 12/31/2013
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 numbers for funds less than 1 year old are cumulative. Performance periods under 1 year reflect performance for the fund and benchmark from the fund's inception date to the month end shown above.
|Exchange Volume (shares)||12,462|
|Shares Outstanding||12.30 M|
|Total Net Assets||$614.70 M|
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.
State Street Global Markets, LLC is the distributor for all registered products on behalf of the advisor. SSgA Funds Management has retained GSO Capital Partners as the sub-advisor.
Ordinary brokerage commissions apply.
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.
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.
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.
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.
Unless otherwise noted all information contained is that of the SPDR GSO / Blackstone Senior Loan ETF.