Title: SPDR Bloomberg U.S. High Yield Corporate Scored UCITS ETF (Dist)

URL Source: https://docs.oppl.io/etf/IE00B99FL386_01-05-2025.pdf

Published Time: Sun, 11 May 2025 05:39:13 GMT

Markdown Content:
This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Terms not defined herein are as defined in the Prospectus. 

# SPDR Bloomberg U.S. High Yield Corporate Scored UCITS ETF (the "Fund") , a sub-fund of SSGA SPDR ETFs Europe I plc (a UCITS compliant Exchange Traded Fund). This Fund is managed by State Street Global Advisors Europe Limited. 

Share Class: SPDR Bloomberg U.S. High Yield Corporate Scored UCITS ETF (Dist) (ISIN IE00B99FL386) Objectives and Investment Policy 

Investment Objective The objective of the Fund is to track the performance of the fixed-rate, US dollar-denominated high yield corporate bond market. 

Investment Policy The Fund seeks to track the performance of the Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index (the "Index") as closely as possible. The Fund is an index tracking fund (also known as a passively managed fund). The Fund invests primarily in securities included in the Index. The Index is a high yield, fixed-rate, U.S. dollar-denominated benchmark that optimizes its R-Factor™ score, an environmental, social and governance ("ESG") rating, provided by State Street Global Advisors®. Based on the Bloomberg US Corporate High Yield Bond Index (the "U.S. HY Corporate Index"), the Index selects securities eligible for the U.S. HY Corporate Index, then aims to exclude certain issuers based on their ESG characteristics considering both their ESG rating and their involvement in certain controversial business activities as outlined in the Index methodology. Then, the Index weights securities using an optimisation process, in order to seek to maximise the portfolio ESG rating, while controlling for active total risk. The active total risk refers to the variation between the Index and the U.S. HY Corporate Index. At least 90% of the Fund's assets are invested in securities that are constituents of the Index, while the index provider applies ESG Ratings on all of the Index constituents. It is expected that the resulting portfolio ESG rating will be higher than the portfolio ESG rating of the U.S. HY Corporate Index after applying a filter eliminating at least 20% of the least well rated securities, by ESG rating, from the U.S. HY Corporate Index. There may be potential inconsistencies, inaccuracy or lack of availability of the ESG data, particularly when issued by external data providers. There may also be potential inconsistencies with the ESG screening methodology of the Index (criteria, approaches, constraints). Details about the limits are described in the Supplement. As it may be difficult to purchase all securities in the Index efficiently, in seeking to track the performance of the Index the Fund will use a stratified sampling strategy to build a representative portfolio which should reflect the performance of the Index. Consequently, the Fund will typically hold only a subset of the securities included in the Index. In limited circumstances the Fund may purchase securities that are not included in the Index. The Fund may use financial derivative instruments (that is, financial contracts whose prices are dependent on one or more underlying assets) in order to manage the portfolio efficiently. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day. Market prices may be greater or less than the daily net asset value of the Fund. The Fund does not currently engage in securities lending. Shareholders may redeem shares on any UK business day (other than days on which relevant financial markets are closed for business and/or the day preceding any such day provided that a list of such closed market days will be published for the Fund on www.ssga.com ); and any other day at the Directors' discretion (acting reasonably) provided Shareholders are notified in advance of any such days. Any income earned by the Fund will be paid to shareholders in respect of the shares. The Shares of the USD Class are issued in U.S. Dollar. Please refer to the Prospectus for more information. Index Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P . and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith. SASB® does not take any position as to whether an issuer should be included or excluded from the Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index. 

Risk and Reward Profile Lower risk Higher risk 

Potentially lower reward Potentially higher reward 

1 2 3 4 5 6 7

Risk Disclaimer The risk category above is not a measure of capital loss or gains but of how significant the rises and falls in the Fund's return have been historically. For example a fund whose return has experienced significant rises and falls will be in a higher risk category, whereas a fund whose return has experienced less significant rises and falls will be in a lower risk category. The lowest category (i.e., category 1) does not mean that a fund is a risk free investment. As the Fund's risk category has been calculated using historical data, it may not be a reliable indication of the Fund's future risk profile. The Fund's risk category shown is not guaranteed and may change in the future. 

Why is this Fund in this category? The Fund is in risk category 4 as its return has experienced medium rises and falls historically. The following are material risks relevant to the Fund which are not adequately captured by the risk category. 

Concentration Risk: When the Fund focuses its investments in a particular way, the issues affecting the investments will have a greater effect than if the Fund was more diversified. This concentration may also limit the Fund's liquidity. 

Credit Risk: The value of debt securities that the Fund purchases may be impacted by the ability of the issuer of those securities to pay the amounts of interest and principal owed as they become due. If there is a negative perception of the issuer's ability to meet its payment obligations, the value of the debt security may decrease. 

Duration / Interest Rate Risk: Changes in interest rates are likely to affect the value of debt instruments in which this Fund invests. A change in interest rates could have a substantial and immediate negative effect on the values of the Fund's investments. 

Index Tracking Risk: The Fund's performance may not exactly track the Index. This can result from market fluctuations, changes in the composition of the Index, transaction costs, the costs of making changes to the Fund's portfolio and other Fund expenses. 

Liquidity Risk & ETF Liquidity Risk: Lack of a ready market or resale restrictions may limit the Fund's ability to sell a security at an advantageous time or price or at all. Illiquid securities may trade at a discount and may affect the ability to meet redemptions on a timely basis. Where the Fund invests in illiquid securities or does not trade in large volumes, the bid offer spreads may widen, the Fund may be exposed to increased valuation risk and reduced ability to trade. Shares in the Fund may also trade at prices materially different to the last available NAV. 

Lower Rated Securities Risk: Lower-quality debt securities can involve a substantially greater risk of default, illiquidity and volatility than higher quality debt securities. Their value may decline significantly over short periods and they tend to be more sensitive to adverse news about the issuer, the market or the economy in general. 

Share Class Risk: Gains/losses on and the costs of currency hedging strategies are intended to accrue solely to the relevant Class. However as 

# Key Investor Information Share Classes are not segregated the transactions could potentially result in liabilities for other Classes. 

Screening Risk: There is a risk that the index provider may make errors, such as incorrect assessment of the screen criteria and/or include incorrect/ exclude correct constituents in the screening process. Please refer to the Prospectus for full details about the risks associated with this Fund. 

Charges 

The charges you pay are used to pay the cost of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. 

One-off charges taken before or after you invest 

Entry charge none Exit charge none This is the maximum that might be taken out of your money before it is invested (entry charge) or before the proceeds of your investment are paid out (exit charge). 

Charges taken from the Fund over a year 

Ongoing charge 0.30% 

Charges taken from the Fund under certain specific conditions 

Performance fee none 

The entry and exit charges shown are maximum figures. In some cases, you might pay less – you can find this out from your financial advisor or distributor. Entry and exit charges are not applicable to investors buying/selling shares of the Fund on stock exchanges, but these investors will do so at market prices and may be subject to broker fees and/or other charges. The ongoing charges figure shown here is based on expenses for the year ending December 2024. It excludes:  

> b

Portfolio transaction costs, except in the case of an entry/exit charge paid by the Fund when buying or selling units in another fund For more information about charges please refer to the "Fees and Expenses" section of the prospectus and the Fund supplement. 

Past Performance                              

> percent
> 15 10 50-5 -10 -15
> 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
> -4.5 13.8 5.2 -0.1 9.3 5.0 5.1 -10.7 12.5 9.8 -3.8 14.0 5.9 0.3 9.9 4.8 5.7 -10.3 12.1 10.0
> A
> QSPDR Bloomberg U.S. High Yield Corporate Scored UCITS ETF (Dist) (IE00B99FL386)
> QBloomberg SASB US Corporate High Yield ESG Ex-Controversies Select Index (USD)

A The past performance displayed relates to the Bloomberg U.S. High Yield 0-5 Year (ex 144a) Bond Index (the previous index the Fund tracked up to 29th October 2021). 

Past performance is not a guide to future results. The past performance shown here takes account of all charges and costs. The entry/exit charges are excluded from the calculation of past performance. The Fund was launched in September 2013. The Class Dist Shares were launched in September 2013. Past performance has been calculated in U.S. Dollar and is expressed as a percentage change in the Fund's net asset value at each year end. The Index of the Fund changed from Bloomberg U.S. High Yield 0-5 Year (ex 144a) Bond Index to Bloomberg SASB Scored US Corporate High Yield Ex-Controversies Select Index on 29th October 2021. 

Practical Information 

Depositary State Street Custodial Services (Ireland) Limited. 

Further Information Copies of the prospectus, its supplements, details of the Fund's portfolio and the latest annual and semi-annual reports prepared for SSGA SPDR ETFs Europe I plc may be obtained, free of charge, from the Administrator or online at www.ssga.com . These documents are available in English. 

Remuneration Policy Details of the up to date remuneration policy of SSGA SPDR ETFs Europe I plc are available from www.ssga.com . Paper copies are available free of charge on request. 

Net Asset Valuation Publication The net asset value and indicative net asset value per share is available at www.ssga.com and at the registered office of the company. Additionally the indicative net asset value is available via Bloomberg, Telekurs and Reuters terminals. 

Tax Legislation The Fund is subject to the tax laws and regulations of Ireland. Depending on your own country of residence this might have an impact on your investments. For further details, you should consult a tax advisor. 

Liability Statement State Street Global Advisors Europe Limited may be held liable for any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus. 

Switching between Sub-Funds Shareholders have no specific right to convert shares of the Fund into shares of another sub-fund of SSGA SPDR ETFs Europe I plc. Conversion can only be effected by the investor selling/ redeeming the shares of the Fund and buying/subscribing shares of another sub-fund of SSGA SPDR ETFs Europe I plc. Detailed information on how to switch between sub-funds is provided in the "Purchase and Sale Information -Conversions" section of the prospectus. 

Segregation of Assets and Liabilities SSGA SPDR ETFs Europe I plc has segregated liability between its sub-funds. As a consequence, the assets of the Fund should not be available to pay the debts of any other sub-fund of SSGA SPDR ETFs Europe I plc. 

This Fund is authorised in Ireland and regulated by the Central Bank of Ireland. State Street Global Advisors Europe Limited is a Company approved by the Central Bank of Ireland, under no. 49934. This key investor information is accurate as at 1 May 2025. 

# Key Investor Information