Administrator,
Custodian, Sub-Administrator and Transfer Agent Fees
SSGA
FM serves as administrator and State Street Bank and Trust Company (“State
Street”), an affiliate of the Adviser, serves as custodian, sub-administrator
and transfer agent. State Street receives fees for its services as custodian,
sub-administrator and transfer agent from the Adviser.
Distributor
State
Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”),
an affiliate of the Adviser, serves as the Distributor of the Trust.
Other
Transactions with Affiliates - Securities Lending
State
Street, an affiliate of the Funds, acts as the securities lending agent for the
Funds, pursuant to an amended and restated securities lending authorization
agreement dated January 6, 2017, as amended.
Net
proceeds collected by State Street on investment of cash collateral or any fee
income less rebates payable to borrowers are paid as follows: If the calendar
year to date net proceeds are below a specified threshold across SPDR ETFs, each
Fund retains eighty five percent (85%) of the net proceeds and fifteen percent
(15%) of such net proceeds is payable to State Street. Starting the business day
following the date that calendar year to date net proceeds exceeds a specified
threshold, each Fund retains ninety percent (90%) of the net proceeds and ten
percent (10%) of such net proceeds is payable to State Street.
In
addition, cash collateral from lending activities is invested in the State
Street Navigator Securities Lending Portfolio II, an affiliated fund, for which
SSGA FM serves as investment adviser. See Note 9 for additional information
regarding securities lending.
Other
Transactions with Affiliates
The
Funds may invest in affiliated entities, including securities issued by State
Street Corporation, affiliated funds, or entities deemed to be affiliates as a
result of the Funds owning more than five percent of the entity’s voting
securities or outstanding shares. Amounts relating to these transactions during
the period ended December 31, 2022 are disclosed in the Schedules of
Investments.
During
the fiscal year ended June 30, 2022, State Street agreed to make a contribution
of $222,935 to the SPDR Bloomberg HIgh Yield Bond ETF related to an accounting
matter. During the period ended December 31, 2022 State Street made a
contribution $239,052 to the SPDR Bloomberg High Yield Bond ETF related to this
accounting matter. The incremental amount is included as a contribution in the
current period.
During
the period ended December 31, 2022 State Street made contributions of $56,947
and $8,782 to the SPDR Bloomberg High Yield Bond ETF related to separate
accounting matters.
During
the period ended December 31, 2022 State Street made a contribution of $56,091
to the SPDR Nuveen Bloomberg High Yield Municipal Bond ETF related to an
accounting matter.
Due
to Custodian
In
certain circumstances, the Funds may have cash overdrafts with the custodian due
to expense payments, capital transactions, trading of securities, investment
operations or derivative transactions. The Due to Custodian amount, if any,
reflects cash overdrawn with State Street, as custodian, who is an affiliate of
the Funds.
5. Trustees’
Fees
The
fees and expenses of the Independent Trustees and one interested, non-management
Trustee are paid directly by the Funds. The Independent Trustees and one
interested, non-management Trustee are reimbursed for travel and other
out-of-pocket expenses in connection with meeting attendance and industry
seminars.
