How Does State Street Blackstone Senior Loan (AUD Hedged) Active ETF (ASX:SBSL) Access US Leveraged Loans?

Sonal Goyal

28 October 2026 12:33 AM AEDT

How Does State Street Blackstone Senior Loan (AUD Hedged) Active ETF (ASX:SBSL) Access US Leveraged Loans?

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Key Highlights

State Street Blackstone Senior Loan (AUD Hedged) Active ETF (ASX:SBSL) seeks to outperform the Morningstar LSTA US Leveraged Loan AUD Hedged Index.
The fund invests through the US-domiciled State Street Blackstone Senior Loan ETF (SRLN), held at 99.06%, and hedges currency with rolling one-month forward contracts.
The management fee is 0.70% and the fund was admitted to the ASX on 7 August 2026.

State Street Blackstone Senior Loan (AUD Hedged) Active ETF (ASX:SBSL) is an actively managed exchange traded fund that seeks to outperform the Morningstar LSTA US Leveraged Loan AUD Hedged Index. Admitted to the ASX on 7 August 2026 and categorised as Non Investment Grade Debt, the fund carries a management fee of 0.70%. This article explains how it obtains its exposure and how distributions are scheduled.

Exposure and Investment Approach

To achieve its objective, the fund obtains exposure to loans and other debt instruments through units in the US-domiciled State Street Blackstone Senior Loan ETF (the Underlying Fund). In addition to this investment, currency hedging is implemented using rolling one-month forward currency contracts. The Underlying Fund (ticker SRLN) represents 99.06% of the portfolio.

Portfolio Composition

The portfolio is held through a single investment, State Street Blackstone Senior Loan ETF (SRLN), which represents 99.06% of the fund.

In terms of asset allocation, bonds make up 92.04% of the portfolio and cash 7.41%, with a 0.55% stock allocation. Geographic exposure is United States (73.45%), the Cayman Islands (17.30%), the United Kingdom (3.16%), Jersey (1.74%), Canada (1.52%) and Australia (1.09%).

Key Features to Understand

The Non Investment Grade Debt category description says funds in this group typically focus on active credit selection and that the average credit quality is below investment grade, as rated by a recognised ratings agency. Portfolio allocation shows bonds at 92.04% of the fund, cash at 7.41% and a small 0.55% stock allocation.

Distribution Details

The fund's most recent recorded distribution was a interim distribution of $0.296 per unit, with an ex-date of 8 October 2026, a record date of 9 October 2026 and payment on 23 October 2026.

Fund Details at a Glance

Fund name: State Street Blackstone Senior Loan (AUD Hedged) Active ETF (ASX:SBSL)
Issuer: State Street
Category: Non Investment Grade Debt
Benchmark: Morningstar LSTA US LL TR Hdg AUD
Admitted to the ASX: 7 August 2026
Management fee: 0.70%
ISIN: AU0000477713

Recent Announcements

Recent announcements include a distribution dates announcement on 1 October 2026, an estimated distribution announcement on 7 October, a final distribution announcement on 8 October and distribution reinvestment prices on 14 October 2026.

Closing Perspective

State Street Blackstone Senior Loan (AUD Hedged) Active ETF uses a single underlying fund to access US senior loans and hedges currency back to Australian dollars. Its most recent distribution was an interim distribution of $0.296 per unit, paid on 23 October 2026.

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