State Street(R) Blackstone Senior Loan ETF
SSGA Active Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
State Street(R) Blackstone Senior Loan ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2025 Q4
The investment objective of the State Street Blackstone Senior Loan ETF (the Fund) is to provide current income consistent with the preservation of capital.
The fund invests at least 80% of assets in senior secured floating-rate bank loans, targeting outperformance of the Markit iBoxx USD Liquid Leveraged Loan Index and the Morningstar LSTA US Leveraged Loan 100 Index by selecting individual loans expected to outperform or underperform those benchmarks; the sub-adviser, Blackstone Liquid Credit Strategies, constructs a portfolio it believes will be less volatile than the general loan market while maintaining liquidity and price transparency. The fund's active selection strategy, which may result in high portfolio turnover, creates the risk that the fund's performance will diverge from its benchmark indexes. The sub-adviser focuses on below-investment-grade senior loans to companies with leading market positions, positive cash flow, experienced management, and often private equity backing, relying on fundamental credit analysis rather than ratings alone.
| Share class | Expense ratio |
|---|---|
| SRLN | 0.70% |
Portfolio turnover 195.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Loans | 84.85% |
| Bonds | 8.30% |
| Cash & short-term | 4.96% |
| Securitized | 3.91% |
| Stocks | 0.63% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 74.9% |
| Information Technology | 4.0% |
| Securitized | 3.8% |
| International | 3.5% |
| 11 smaller | 13.9% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: HOLOGIC INC, Barclays Bank PLC, DISCOVERY GLOBAL HOLDINGS INC, ATHENAHEALTH GROUP INC, SWORD PURCHASER LLC, AI AQUA MERGER SUB INC, Virtusa Corporation, Synechron Inc
Largest exited: State Street Bank & Trust Co., Athenahealth Group Inc, AI AQUA MERGER SUB INC, MITCHELL INTERNATIONAL INC, Worldwide Express Operations, LLC, Clarios Global LP, Opal Bidco SAS, Polaris Newco LLC
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 89.7% |
| Fixed rate | 8.6% |
| Zero-coupon or unclassified | 1.6% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 17.8% |
| 3-5y | 25.9% |
| 5-10y | 52.4% |
| 10y+ | 4.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Interest-rate moves barely touch this fund — but its credit exposure is real: a 100bp widening in credit spreads costs roughly 4.0%. Duration alone would have told you none of that.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 93% |
| Interest rates | 7% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +3.73 yr |
| Investment grade | +0.16 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.07 yr | 24% |
| 1 yr | 0.07 yr | 25% |
| 5 yr | 0.13 yr | 44% |
| 10 yr | 0.02 yr | 7% |
| 30 yr | 0.00 yr | 1% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.62 yr | 16% |
| 5 yr | 2.75 yr | 71% |
| 10 yr | 0.50 yr | 13% |
| 30 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.07 | +0.00 | +0.02 | $240 | $8.3k |
| 1 yr | +0.07 | +0.01 | +0.61 | $7.4k | $316.3k |
| 5 yr | +0.13 | +0.11 | +2.64 | $56.7k | $1.38m |
| 10 yr | +0.02 | +0.04 | +0.46 | $21.4k | $240.3k |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $243 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| GVMXX | State Street Global AdvisorsGVMXX | 3.04% | $158.60M | — |
| — | HOLOGIC INC5.92% floating · due 2033-04-07 | 2.17% | $113.35M | — |
| — | Gainwell Acquisition Corp7.80% floating · due 2027-10-01 | 2.16% | $112.37M | — |
| — | Barclays Bank PLC | 1.92% | $100.00M | — |
| — | DISCOVERY GLOBAL HOLDINGS INC6.14% floating · due 2033-06-03 | 1.75% | $90.97M | — |
| — | TransDigm Inc5.90% floating · due 2030-03-22 | 1.61% | $84.12M | — |
| — | NEPTUNE BIDCO US INC8.77% floating · due 2033-02-03 | 1.60% | $83.36M | — |
| — | Jane Street Group LLC5.67% floating · due 2031-12-15 | 1.49% | $77.41M | — |
| — | Finastra USA Inc7.75% floating · due 2032-09-15 | 1.46% | $76.18M | — |
| — | UKG Inc5.91% floating · due 2031-02-10 | 1.46% | $76.10M | — |
Top 10 positions are 18.65% of net assets, top 25 36.44%, across 617 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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