Fund Description: SPDR Blackstone Senior Loan ETF formerly, SPDR Blackstone/ GSO Senior Loan ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the SSgA Active ETF Trust, an open-end management investment company. INVESTMENT OBJECTIVE: The SPDR Blackstone Senior Loan ETF is an actively managed ETF and thus, does not seek to replicate the performance of a specific index, but rather uses an active investment strategy to meet its investment objective. Accordingly, the ETF’s investment adviser and sub-adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. The advisors may use an Index as a benchmark. Accordingly, the ETF’s investment adviser and sub-adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. The advisors may use an Index as a benchmark. The FUND STRATEGY: 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. Senior Loans are first lien senior secured floating rate bank loans. The Primary Index is comprised of the 100 most liquid Senior Loans in the market, while the Secondary Index is comprised of the 100 largest Senior Loans in the market, as measured by the borrowed amounts outstanding. The Portfolio intends to hold a large percentage of the components of the Primary and Secondary Indexes. It is anticipated that the Portfolio will invest approximately 50% to 75% of its net assets in Senior Loans that are eligible for inclusion in the Primary and/or Secondary Indexes. Each of the Portfolio’s Senior Loan investments is expected to have no less than $250 million par outstanding. The Portfolio invests in Senior Loans that are made predominantly to businesses operating in North America, but may also invest in Senior Loans made to businesses operating outside of North America. The Portfolio may invest in Senior Loans directly, either from the borrower as part of a primary issuance or in the secondary market through assignments of portions of Senior Loans from third parties, or participations in Senior Loans, which are contractual relationships with an existing lender in a loan facility whereby the Portfolio purchases the right to receive principal and interest payments on a loan but the existing lender remains the record holder of the loan. Under normal market conditions, the Portfolio expects to maintain an average duration of less than 90 days. In selecting securities for the Portfolio, the sub-adviser seeks to construct a portfolio of loans that it believes is less volatile than the general loan market. In addition, when making investments, the Sub-Adviser seeks to maintain appropriate liquidity and price transparency for the Portfolio. On an on-going basis, the Sub-Adviser adds or removes those individual loans that it believes will cause the Portfolio to outperform or underperform, respectively, the Primary and Secondary Indexes. FUND MANAGEMENT: SSgA Funds Management, Inc. serves as the investment adviser to the Fund and the Portfolio. Blackstone Liquid Credit Strategies LLC serves as sub-adviser to the Portfolio and the Fund, subject to supervision by the Adviser and the Board of Trustees.