0001193125-12-470125.txt : 20121114 0001193125-12-470125.hdr.sgml : 20121114 20121114143143 ACCESSION NUMBER: 0001193125-12-470125 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121114 DATE AS OF CHANGE: 20121114 EFFECTIVENESS DATE: 20121114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPDR SERIES TRUST CENTRAL INDEX KEY: 0001064642 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-57793 FILM NUMBER: 121203381 BUSINESS ADDRESS: STREET 1: ONE LINCOLN STREET STREET 2: CPH0326 CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 866-787-2257 MAIL ADDRESS: STREET 1: ONE LINCOLN STREET STREET 2: CPH0326 CITY: BOSTON STATE: MA ZIP: 02111 FORMER COMPANY: FORMER CONFORMED NAME: STREETTRACKS SERIES TRUST DATE OF NAME CHANGE: 20000925 FORMER COMPANY: FORMER CONFORMED NAME: INDEX EXCHANGE LISTED SECURITIES TRUST DATE OF NAME CHANGE: 19980622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPDR SERIES TRUST CENTRAL INDEX KEY: 0001064642 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-08839 FILM NUMBER: 121203382 BUSINESS ADDRESS: STREET 1: ONE LINCOLN STREET STREET 2: CPH0326 CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 866-787-2257 MAIL ADDRESS: STREET 1: ONE LINCOLN STREET STREET 2: CPH0326 CITY: BOSTON STATE: MA ZIP: 02111 FORMER COMPANY: FORMER CONFORMED NAME: STREETTRACKS SERIES TRUST DATE OF NAME CHANGE: 20000925 FORMER COMPANY: FORMER CONFORMED NAME: INDEX EXCHANGE LISTED SECURITIES TRUST DATE OF NAME CHANGE: 19980622 0001064642 S000006973 SPDR(R) Dow Jones Total Market ETF C000019026 SPDR(R) Dow Jones Total Market ETF TMW 0001064642 S000006974 SPDR(R) S & P 600 Small Cap Value ETF C000019027 SPDR(R) S & P 600 Small Cap Value ETF SLYV 0001064642 S000006975 SPDR(R) Global Dow ETF C000019028 SPDR(R) Global Dow ETF DGT 0001064642 S000006976 SPDR(R) Dow Jones REIT ETF C000019029 SPDR(R) Dow 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0001064642 S000006988 SPDR(R) S & P 400 Mid Cap Value ETF C000019041 SPDR(R) S & P 400 Mid Cap Value ETF MDYV 0001064642 S000006989 SPDR(R) S & P 600 Small Cap ETF C000019042 SPDR(R) S & P 600 Small Cap ETF SLY 0001064642 S000006990 SPDR(R) S & P 600 Small Cap Growth ETF C000019043 SPDR(R) S & P 600 Small Cap Growth ETF SLYG 0001064642 S000010018 SPDR(R) S&P(R) Biotech ETF C000027706 SPDR(R) S&P(R) Biotech ETF XBI 0001064642 S000010019 SPDR(R) S&P(R) Homebuilders ETF C000027707 SPDR(R) S&P(R) Homebuilders ETF XHB 0001064642 S000010020 SPDR(R) S&P(R) Semiconductor ETF C000027708 SPDR(R) S&P(R) Semiconductor ETF XSD 0001064642 S000012318 SPDR(R) S&P(R) Aerospace & Defense ETF C000033534 SPDR(R) S&P(R) Aerospace & Defense ETF XAR 0001064642 S000012319 SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF C000033535 SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF XOP 0001064642 S000012320 SPDR(R) S&P(R) Outsourcing and IT Consulting ETF C000033536 SPDR(R) S&P(R) Outsourcing and IT 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SPDR S&P Commercial Paper Ex-Financials ETF C000110421 SPDR S&P Commercial Paper Ex-Financials ETF 0001064642 S000036080 SPDR Barclays Capital Breakeven Inflation ETF C000110422 SPDR Barclays Capital Breakeven Inflation ETF 0001064642 S000036414 SPDR Barclays Capital Short Term High Yield Bond ETF C000111386 SPDR Barclays Capital Short Term High Yield Bond ETF 0001064642 S000036937 SPDR BofA Merrill Lynch Emerging Markets Corporate Bond ETF(EMCD) C000113017 SPDR BofA Merrill Lynch Emerging Markets Corporate Bond ETF(EMCD) 0001064642 S000036938 SPDR BofA Merrill Lynch Crossover Corporate Bond ETF(XOVR) C000113018 SPDR BofA Merrill Lynch Crossover Corporate Bond ETF(XOVR) 485BPOS 1 d429564d485bpos.htm SPDR SERIES TRUST SPDR Series Trust

As filed with the Securities and Exchange Commission on November 14, 2012

Securities Act File No. 333-57793

Investment Company Act of 1940 File No. 811-08839

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933    x
Post-Effective Amendment No. 90    x

And

REGISTRATION STATEMENT

UNDER

THE INVESTMENT COMPANY ACT OF 1940    x

Amendment No. 92

 

 

SPDR® SERIES TRUST

(Exact Name of Registrant as Specified in Charter)

 

 

One Lincoln Street

Boston, Massachusetts 02111

(Address of Principal Executive Offices)

Registrant’s Telephone Number: (866) 787-2257

 

 

Copies to:

 

Ryan M. Louvar, Esq.

State Street Bank and Trust Company

One Lincoln Street/CPH0326

Boston, Massachusetts 02111

  

W. John McGuire, Esq.

Bingham McCutchen LLP

2020 K Street NW

Washington, DC 20006

(Name and Address of Agent for Service)  

 

 

It is proposed that this filing will become effective:

  x immediately upon filing pursuant to Rule 485, paragraph (b)
  ¨ on                      pursuant to Rule 485, paragraph (b)
  ¨ 60 days after filing pursuant to Rule 485, paragraph (a)(1)
  ¨ on                      pursuant to Rule 485, paragraph (a)(1)
  ¨ 75 days after filing pursuant to Rule 485, paragraph (a)(2)
  ¨ on                      pursuant to Rule 485, paragraph (a)(2)

 

  ¨ this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act and has caused this amendment to the registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Boston and Commonwealth of Massachusetts on the 14th day of November, 2012.

 

SPDR® SERIES TRUST
By:   /s/ Ellen M. Needham*
  Ellen M. Needham
  President

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, this amendment to the registration statement has been signed below by the following persons in the capacities and on the date indicated:

 

SIGNATURES    TITLE    DATE

/s/ Bonny E. Boatman*

    Trustee    November 14, 2012

Bonny E. Boatman

      

/s/ Dwight D. Churchill*

    Trustee    November 14, 2012

Dwight D. Churchill

      

/s/ David M. Kelly*

    Trustee    November 14, 2012

David M. Kelly

      

/s/ Frank Nesvet*

    Trustee    November 14, 2012

Frank Nesvet

      

/s/ Carl G. Verboncoeur*

    Trustee    November 14, 2012

Carl G. Verboncoeur

      

/s/ Ellen M. Needham*

    President and Principal Executive Officer    November 14, 2012

Ellen M. Needham

      

/s/ Chad C. Hallett

    Treasurer and Principal Financial Officer    November 14, 2012

Chad C. Hallett

      

 

*By :   /s/ Scott E. Habeeb
  Scott E. Habeeb
 

As Attorney-in-Fact

Pursuant to Power of Attorney

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sst2:S000006980Member sst2:MorganStanleyTechnologyIndexMember 2011-11-01 2012-10-31 pure iso4217:USD 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 <font style="FONT-FAMILY: ARIAL" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE: </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example: </b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: Arial" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example: </b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>EXAMPLE:</b></font> 141 0.4805 141 141 113 113 113 0.2918 0.2551 141 <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). 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During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 25% of the average value of its portfolio. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 20% of the average value of its portfolio. </font> 0.4291 <font style="FONT-FAMILY: Arial" size="2"><u>http://www.spdrs.com</u></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 21% of the average value of its portfolio. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. 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A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 3% of the average value of its portfolio. </font> 0.1589 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)DowJonesTotalMarketETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSP600SmallCapValueETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSP500GrowthETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Dow Jones REIT ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 7% of the average value of its portfolio. </font> 0.1426 0.0886 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Global Dow ETF </b></font> <font style="FONT-FAMILY: Arial" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 11% of the average value of its portfolio.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSP500ValueETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPCapitalMarketsETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)GlobalDowETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)DowJonesREITETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P Bank ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 55% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> S&amp;P<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> Dividend ETF </b> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRMorganStanleyTechnologyETF column period compact * ~</div> 0.2009 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRAerospaceDefenseETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> S&amp;P<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> Aerospace &amp; Defense ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 94% of the average value of its portfolio. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (September 28, 2011) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P Capital Markets ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 64% of the average value of its portfolio. </font> 0.1035 0.18 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRDividendETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.5ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.5ex; VERTICAL-ALIGN: baseline">&#174;</sup> Computer Hardware ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P Insurance ETF </b></font> <font style="FONT-FAMILY: Arial" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 62% of the average value of its portfolio.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPBankETF column period compact * ~</div> <b><font style="FONT-FAMILY: ARIAL" size="5">SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font><font style="FONT-FAMILY: ARIAL" size="5"> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Building &amp; Construction ETF </font></b> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> 0.1498 <font style="FONT-FAMILY: ARIAL" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Biotech ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 61% of the average value of its portfolio. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRBuildingConstructionETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Morgan Stanley Technology ETF </b></font> 0.4089 <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 21% of the average value of its portfolio. </font> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Food & Beverage ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> 0.1701 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRComputerHardwareETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> LeisureTime ETF </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRMetalsMiningETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Health Care Services ETF </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRFoodBeverageETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (September 28, 2011) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 25% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Health Care Equipment ETF </b></font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> S&amp;P<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> Homebuilders ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 42% of the average value of its portfolio. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 46% of the average value of its portfolio. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRHealthCareServicesETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRBiotechETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRHealthCareEquipmentETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Metals & Mining ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 32% of the average value of its portfolio. </font> 0.4661 0.0649 <font style="FONT-FAMILY: ARIAL" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Oil &amp; Gas Exploration &amp; Production ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 42% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P Regional Banking ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 44% of the average value of its portfolio. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRSPLeisureTimeETF column period compact * ~</div> 0.1872 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPROilGasExplorationProductionETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Software &amp; Services ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (September 28, 2011) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 32% of the average value of its portfolio. </font> -0.1037 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Retail ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 39% of the average value of its portfolio. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRSoftwareServicesETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Transportation ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 25% of the average value of its portfolio. </font> 0.2036 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRHomebuildersETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRTransportationETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRRetailETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> 1500 Value Tilt ETF </b></font> <font style="FONT-FAMILY: Arial" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</font> <b><font style="FONT-FAMILY: ARIAL" size="5">SPDR<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> <font style="FONT-FAMILY: ARIAL" size="5"> S&amp;P<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> Pharmaceuticals ETF</font> </b> <font style="FONT-FAMILY: Arial" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 31% of the average value of its portfolio. </font> 0.1807 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P 600 Small Cap ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 13% of the average value of its portfolio. </font> 0.1368 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Telecom ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 50% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P Mortgage Finance ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 91% of the average value of its portfolio. </font> 0.2675 <font style="FONT-FAMILY: ARIAL" size="5"><b>SPDR<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> S&amp;P<font style="FONT-FAMILY: ARIAL" size="3"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></font> Outsourcing &amp; IT Consulting ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Oil &amp; Gas Equipment &amp; Services ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 30% of the average value of its portfolio. </font> -0.0158 <font style="FONT-FAMILY: ARIAL" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> 1500 Momentum Tilt ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174; </sup>Barclays 1-3 Month T-Bill ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 619% of the average value of its portfolio. </font> -0.0003 <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> <b><font style="FONT-FAMILY: Arial" size="5">SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> 1500 Volatility Tilt ETF</font></b> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Short Term Treasury ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (November 30, 2011) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 24% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Wells Fargo<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Preferred Stock ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 69% of the average value of its portfolio. </font> 0.0428 0.1274 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Long Term Treasury ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 22% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Intermediate Term Treasury ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 35% of the average value of its portfolio. </font> 0.0163 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays TIPS ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Intermediate Term Corporate Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 15% of the average value of its portfolio.</font> 0.0747 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Long Term Corporate Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 21% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Issuer Scored Corporate Bond ETF </b></font> <font style="FONT-FAMILY: Arial" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 17% of the average value of its portfolio.</font> 0.1086 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Convertible Securities ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 17% of the average value of its portfolio. </font> 0.1156 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Mortgage Backed Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 1,489% of the average value of its portfolio. </font> 0.0244 <b><font style="FONT-FAMILY: Arial" size="5">SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Semiconductor ETF</font></b> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 36% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Aggregate Bond ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 428% of the average value of its portfolio. </font> 0.0383 -0.0149 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> DB International Government Inflation-Protected Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 40% of the average value of its portfolio. </font> 0.0016 0.0635 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays International Treasury Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 38% of the average value of its portfolio. </font> 0.059 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen S&amp;P High Yield Municipal Bond ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 24% of the average value of its portfolio. </font> 0.0324 <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 50% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Short Term Corporate Bond ETF </b></font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen S&amp;P<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> VRDO Municipal Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 92% of the average value of its portfolio. </font> 0.0967 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Short Term International Treasury Bond ETF</font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen Barclays New York Municipal Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 24% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen Barclays California Municipal Bond ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 14% of the average value of its portfolio.</font> 0.0623 0.0822 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen Barclays Short Term Municipal Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen Barclays Build America Bond ETF </b></font> 0.0157 <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 112% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Nuveen Barclays Municipal Bond ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 17% of the average value of its portfolio.</font> 0.1061 0.0582 <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 116% of the average value of its portfolio.</font> 0.0281 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays International Corporate Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 42% of the average value of its portfolio. </font> 0.0842 <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Short Term High Yield Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (March 14, 2012) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 16% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Emerging Markets Local Bond ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 18% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> BofA Merrill Lynch Emerging Markets Corporate Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (June 18, 2012) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 6% of the average value of its portfolio.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR Barclays Corporate Financial Bond ETF</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays High Yield Bond ETF</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR Barclays Corporate Industrial Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 38% of the average value of its portfolio. </font> 0.1068 <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> BofA Merrill Lynch Crossover Corporate Bond ETF</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (June 18, 2012) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 1% of the average value of its portfolio.</font> <font style="FONT-FAMILY: Arial" size="2"><b>SPDR Barclays Zero Coupon Bond ETF</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR Barclays Corporate Utilities Bond ETF </b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR&#174; S&amp;P&#174; Commercial Paper ETF</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR Barclays Global Convertible Securities ETF</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR Barclays CMBS ETF </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> S&amp;P Agency Bond ETF </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR Barclays Breakeven Inflation ETF</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Times New Roman" size="2">"Other Expenses" are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Corporate Bond ETF</b></font> <font style="FONT-FAMILY: Arial" size="5"><b>SPDR<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Barclays Investment Grade Floating Rate ETF </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the period from the commencement of the Fund&#8217;s operations (November 30, 2011) to the end of the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. </font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>SPDR S&amp;P Commercial Paper Ex-Financials ETF </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: ARIAL" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: ARIAL" size="2">"Other Expenses" are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2">"Other Expenses" are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2">"Other Expenses" are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. </font> <font style="FONT-FAMILY: ARIAL" size="1">&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.</font> 26 26 26 20 20 20 2005-11-08 2005-11-08 2005-11-08 26 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 15.57% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -22.14% (Q4 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 28.61% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -28.41% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 16.35% (Q2 2009)<br/>Lowest Quarterly Return: -23.11% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. </font> <font style="FONT-FAMILY: Arial" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 22.24% (Q3 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -27.02% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 2005-11-08 2005-11-08 2005-11-08 2005-11-08 <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 23.46% (Q3 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -24.41% (Q4 2008)</font> 2005-11-08 2005-11-08 2005-11-08 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund shares. </font> 51 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 22.89% (Q3 2009)<br/>Lowest Quarterly Return: -25.80% (Q4 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 26 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 20 <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 25.67% (Q3 2009)<br/>Lowest Quarterly Return: -25.28% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 36 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 16.30% (Q2 2009)<br/>Lowest Quarterly Return: -22.49% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 2005-11-08 2005-11-08 2005-11-08 2005-11-08 2005-11-08 2005-11-08 2011-09-12 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 2005-11-08 2005-11-08 2005-11-08 2011-09-12 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 1.22em"><font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 35.38% (Q3 2009)</font></font><br/><font style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 1.22em"><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -39.70% (Q4 2008)</font></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 18.25% (Q2 2003)<br/>Lowest Quarterly Return: -21.13% (Q4 2008)</font> 36 2005-11-08 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 26 <font style="FONT-FAMILY: Arial" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 2006-06-19 2006-06-19 2006-06-19 2011-09-12 2008-11-09 36 36 51 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 36 2005-11-08 2005-11-08 2005-11-08 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 36 36 36 36 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):<b></b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 2006-06-19 2006-06-19 2006-06-19 36 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 2005-11-08 2005-11-08 2005-11-08 2011-09-12 2006-06-19 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 2006-01-31 2006-01-31 2006-01-31 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 36 20 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 2006-06-19 2006-06-19 2006-06-19 2006-06-19 2006-01-31 2006-01-31 2006-01-31 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 2006-06-19 2006-06-19 2006-06-19 36 36 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 2006-01-31 2006-01-31 2006-01-31 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund shares.</font> 36 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2"> Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 36 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRegionalBankingSMETF column period compact * ~</div> 2006-06-19 2006-06-19 2006-06-19 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRPharmaceuticalsETF column period compact * ~</div> 2005-11-08 2005-11-08 2005-11-08 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSP600SmallCapETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2"> Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> 36 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRTelecomETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: Arial" size="2"> The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 36 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPR1500ValueTiltETF column period compact * ~</div> 2011-09-12 2009-04-29 2009-04-29 2009-04-29 36 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPInsuranceETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPMortgageFinanceSMETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPROutsourcingandITConsultingETF column period compact * ~</div> 2006-06-19 2006-06-19 2006-06-19 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 36 36 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPR1500MomentumTiltETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 14 2007-05-25 2007-05-25 2007-05-25 2007-05-25 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)Barclays1-3MonthT-BillETF column period compact * ~</div> 36 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> 19 46 14 2009-09-16 2009-09-16 2009-09-16 15 2009-02-10 2009-02-10 2009-02-10 2009-02-10 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysIntermediateTermCorporateBondETF column period compact * ~</div> 13 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 2009-12-16 2009-12-16 2009-12-16 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 12 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)WellsFargo(R)PreferredStockETF column period compact * ~</div> 2007-05-25 2007-05-25 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysShortTermCorporateBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysShortTermTreasuryETF column period compact * ~</div> 2007-05-25 14 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):<b></b></font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 2007-05-23 2007-05-23 2007-05-23 2007-05-23 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysLongTermTreasuryETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysIntermediateTermTreasuryETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 2007-05-23 2007-05-23 2007-05-23 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 15 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysLongTermCorporateBondETF column period compact * ~</div> 2009-03-10 2009-03-10 2009-03-10 2009-03-10 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 16 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysIssuerScoredCorporateBondETF column period compact * ~</div> 41 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysConvertibleSecuritiesETF column period compact * ~</div> 2009-04-14 2009-04-14 2009-04-14 2009-04-14 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: Arial" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 33 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysMortgageBackedBondETF column period compact * ~</div> 2009-01-15 2009-01-15 2009-01-15 2009-01-15 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: Arial" size="2">The Fund is required to disclose &#8220;Acquired Fund Fees and Expenses&#8221; in the table above. Acquired Fund Fees and Expenses reflect the Fund&#8217;s pro rata share of the fees and expenses incurred by investing in other investment companies, including affiliated investment companies. Since &#8220;Total Annual Fund Operating Expenses&#8221; for purposes of the table above includes Acquired Fund Fees and Expenses, it does not correlate to the ratio of &#8220;Expenses to Average Net Assets&#8221; in the <i>Financial Highlights </i>section of the Prospectus. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRSemiconductorETF column period compact * ~</div> 18 2007-05-23 2007-05-23 2007-05-23 2007-05-23 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysAggregateBondETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1">The Fund is required to disclose &#8220;Acquired Fund Fees and Expenses&#8221; in the table above. Acquired Fund Fees and Expenses reflect the Fund&#8217;s pro rata share of the fees and expenses incurred by investing in other investment companies, including affiliated investment companies. Since &#8220;Total Annual Fund Operating Expenses&#8221; for purposes of the table above includes Acquired Fund Fees and Expenses, it does not correlate to the &#8220;Ratio of Expenses to Average Net Assets&#8221; in the <i>Financial Highlights </i>section of the Prospectus.</font> <font style="FONT-FAMILY: ARIAL" size="2"><font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 2006-01-31 2005-11-08 2005-11-08 2005-11-08 2009-04-29 2005-11-08 2005-11-08 2005-11-08 2006-06-19 2005-11-08 51 2007-10-02 2007-10-02 2007-10-02 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 20 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysInternationalTreasuryBondETF column period compact * ~</div> 36 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 20 2009-01-15 2009-01-15 2009-01-15 2009-01-15 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysTIPSETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysShortTermInternationalTreasuryBondETF column period compact * ~</div> 2007-10-10 2007-10-10 2007-10-10 2007-10-10 2009-09-23 2009-09-23 2009-09-23 2009-09-23 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)NuveenBarclaysCaliforniaMunicipalBondETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 20 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 2007-05-25 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> 2009-12-16 46 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2"> The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 51 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> 2008-03-13 2008-03-13 2008-03-13 2008-03-13 <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)DBInternationalGovernmentInflation-ProtectedBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRNuveenSPHighYieldMunicipalBondETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> 24 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 2007-09-11 2007-09-11 2007-09-11 2007-09-11 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)NuveenBarclaysMunicipalBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)NuveenBarclaysNewYorkMunicipalBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRNuveenSPRVRDOMunicipalBondETF column period compact * ~</div> 2007-10-11 2007-10-11 2007-10-11 2007-10-11 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPROilGasEquipmentServicesETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance for the most recent calendar year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: Arial" size="2"> The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 36 2010-05-12 2010-05-12 2010-05-12 2010-05-12 20 2007-10-10 2007-10-10 2007-10-10 2007-10-10 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)NuveenBarclaysBuildAmericaBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)NuveenBarclaysShortTermMunicipalBondETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund's performance from year to year and by showing how the Fund's average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 56 2010-05-19 2010-05-19 2010-05-19 2010-05-19 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing the Fund&#8217;s performance for the most recent calendar year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2"> The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPR1500VolatilityTiltETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysInternationalCorporateBondETF column period compact * ~</div> 51 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> 41 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysShortTermHighYieldBondETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysEmergingMarketsLocalBondETF column period compact * ~</div> 15 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysInvestmentGradeFloatingRateETF column period compact * ~</div> 41 2007-11-28 2007-11-28 2007-11-28 2007-11-28 2006-06-19 2006-01-31 2006-06-19 2006-01-31 2007-05-23 <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index.</font> 51 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBofAMerrillLynchEmergingMarketsCorporateBondETF column period compact * ~</div> 31 <font style="FONT-FAMILY: Arial" size="2"><b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysCorporateFinancialBondETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses </b></font><font style="FONT-FAMILY: Times New Roman" size="2"> (expenses that you pay each year as a percentage of the value of your investment): </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysHighYieldBondETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysCorporateIndustrialBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BofAMerrillLynchCrossoverCorporateBondETF column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses </b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses</b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="2"><b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysCorporateUtilitiesBondETF column period compact * ~</div> 2009-09-16 <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysZeroCouponBondETF column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses </b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysGlobalConvertibleSecuritiesETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysCMBSETF column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses </b>(expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRBarclaysBreakevenInflationETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDR(R)BarclaysCorporateBondETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Arial" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <font style="FONT-FAMILY: Times New Roman" size="1"><b>ANNUAL FUND OPERATING EXPENSES</b> (expenses that you pay each year as a percentage of the value of your investment):</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRSPCommercialPaperExFinancialsETF column period compact * ~</div> 36 2006-06-19 2007-10-02 <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPAgencyBondETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRSPRCommercialPaperETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund&#8217;s returns based on net assets and comparing the Fund&#8217;s performance to the Index.</font> 485BPOS SPDR SERIES TRUST 2012-10-26 80 -0.3894 0.0349 0.0492 0.0482 0.0427 0.0742 80 80 64 64 -0.0083 64 -0.3165 0.0443 0.0267 0.0216 0.0225 0.0352 2009-09-30 0.2289 2008-12-31 0.0184 0.0169 0.0155 0.0213 0.016 -0.1761 -0.0066 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)DowJonesLargeCapETFBarChart column period compact * ~</div> -0.026 80 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> 0.0736 0.0706 <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P MidCap 400 Value Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: Arial" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 0.0669 <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 0.0824 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> -0.0272 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> -0.0153 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS </b>(for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)DowJonesMidCapETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P SmallCap 600 Growth Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>AVERAGE ANNUAL TOTAL RETURNS </b>(for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P 500 Growth Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.1557 <font style="FONT-FAMILY: Arial" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> 2008-12-31 <font style="FONT-FAMILY: Arial" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P 500 Growth Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 0.2861 2008-12-31 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P MidCap 400 Growth Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P SmallCap 600 Growth Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.1635 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2"> Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP400MidCapValueETFBarChart column period compact * ~</div> 0.2224 2008-12-31 0.1825 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P 500 Value Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 160 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS (for periods ending 12/31/11)</b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b>&nbsp;&nbsp;</font><font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote</blockquote> 0.2346 0.0312 0.0281 0.0262 0.0386 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> 2008-12-30 <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP600SmallCapGrowthETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 80 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 64 <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P MidCap 400 Value Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> -0.0046 -0.0084 -0.0041 0.011 <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P SmallCap 600 Value Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> -0.0107 <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P SmallCap 600 Value Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 0.2567 2008-12-31 -0.2336 -0.1158 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP400MidCapGrowthETFBarChart column period compact * ~</div> 113 <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P 500 Value Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> -0.2216 <font style="FONT-FAMILY: ARIAL" size="2"> Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P MidCap 400 Growth Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 0.163 2008-12-31 2012-06-30 113 -0.2539 -0.2121 0.0101 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to June 14, 2005, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the Dow Jones U.S. Total Stock Market Index. Performance of the Fund prior to June 14, 2005 is therefore based on the Fund&#8217;s investment strategy to track the prior index. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">Prior to June 14, 2005, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the Dow Jones U.S. Total Stock Market Index. Performance of the Fund prior to June 14, 2005 is therefore based on the Fund&#8217;s investment strategy to track the prior index.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP500GrowthETFBarChart column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP600SmallCapValueETFBarChart column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)DowJonesTotalMarketETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.3538 2008-12-31 0.1594 113 2008-12-31 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Arial" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 15.94% (Q2 2009)<br/>Lowest Quarterly Return: -19.80% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Effective May 2, 2011, the Fund changed its benchmark index to The Global Dow from the Dow Jones Global Titans 50 Index U.S. Close. The Fund&#8217;s performance prior to May 1, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS </b>(for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: Arial" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: Arial" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 80 <font style="FONT-FAMILY: Arial" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: Arial" size="2">Effective May 2, 2011, the Fund changed its benchmark index to The Global Dow from the Dow Jones Global Titans 50 Index U.S. Close. The Fund&#8217;s performance prior to May 1, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP500ValueETFBarChart column period compact * ~</div> 0.0326 0.0916 0.0992 0.0834 0.0805 0.1012 113 113 160 113 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPCapitalMarketsETFBarChart column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)GlobalDowETFBarChart column period compact * ~</div> 0.0169 0.0165 0.0145 0.0217 0.0527 -0.1217 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)DowJonesREITETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 30.43% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -35.84% (Q1 2009)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Banks Select Industry Index from the KBW Bank Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> -0.4344 <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> -0.106 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.3043 2009-03-31 <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:<b/></font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRMorganStanleyTechnologyETFBarChart column period compact * ~</div> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 17.28% (Q3 2009)<br/>Lowest Quarterly Return: -16.22% (Q4 2008)</font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font>.</blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 0.1728 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 29.06% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -33.43% (Q4 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Capital Markets Select Industry Index from the KBW Capital Markets Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK: </b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.2906 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Capital Markets Select Industry Index from the KBW Capital Markets Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPBankETFBarChart column period compact * ~</div> 0.0725 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRDividendETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Arial" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: ARIAL" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Insurance Select Industry Index from the KBW Insurance Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 36.67% (Q3 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -28.64% (Q4 2008)</font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>EXAMPLE:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> <font style="FONT-FAMILY: ARIAL" size="2">Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Insurance Select Industry Index from the KBW Insurance Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 113 113 0.3667 2008-12-31 113 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS </b>(for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 14.65% (Q3 2010)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -18.48% (Q3 2011)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font> &nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> 0.1465 2011-09-30 <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 27.51% (Q2 2003)<br/>Lowest Quarterly Return: -28.23% (Q3 2002)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <blockquote><blockquote><b><font style="FONT-FAMILY: ARIAL" size="1">NON-DIVERSIFICATION RISK:</font></b><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPInsuranceETFBarChart column period compact * ~</div> -0.282 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;) other than brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> 113 <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="2"><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp; <font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.2751 2002-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b> </font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> -0.0564 <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 28.86% (Q4 2011)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -37.91% (Q4 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><b><font style="FONT-FAMILY: ARIAL" size="1">NON-DIVERSIFICATION RISK:</font></b><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 113 64 113 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRBiotechETFBarChart column period compact * ~</div> 0.0091 0.0092 -0.0089 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 0.2886 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 47.81% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -49.76% (Q3 2008)</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRMetalsMiningETFBarChart column period compact * ~</div> 0.3052 2008-09-30 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 30.52% (Q2 2008)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -35.77% (Q3 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2"> Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 34.92% (Q3 2008)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -33.24% (Q1 2009)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Regional Banks Select Industry Index from the KBW Regional Banking Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:&nbsp;&nbsp;</b></font><font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Regional Banks Select Industry Index from the KBW Regional Banking Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.0968 0.3492 2009-03-31 113 113 <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPROilGasExplorationProductionETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.4781 2008-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> -0.1824 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 23.68% (Q3 2009)<br/>Lowest Quarterly Return: -32.30% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS </b>(for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><b><font style="FONT-FAMILY: ARIAL" size="1">NON-DIVERSIFICATION RISK:</font></b><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b>&nbsp;&nbsp;</font><font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 0.2368 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRRetailETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Arial" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRHomebuildersETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 17.74% (Q3 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -10.04% (Q1 2009)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.1774 2009-03-31 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 26.04% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -26.84% (Q4 2008)</font> 113 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P SmallCap 600 Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 0.1275 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b> </font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRegionalBankingSMETFBarChart column period compact * ~</div> 0.2604 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the total return performance of an index different from the S&amp;P SmallCap 600 Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRPharmaceuticalsETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><b><font style="FONT-FAMILY: ARIAL" size="1">NON-DIVERSIFICATION RISK:</font></b><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSP600SmallCapETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 19.45% (Q4 2011)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -26.77% (Q3 2011)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Effective October 24, 2011, the Fund has changed its benchmark index to the S&amp;P Mortgage Finance Select Industry Index from the KBW Mortgage Finance Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: Arial" size="1"><b>NON-DIVERSIFICATION RISK:</b></font> <font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: Arial" size="2"> Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 113 -0.197 0.1945 2011-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Effective October 24, 2011, the Fund changed its benchmark index to the S&amp;P Banks Select Industry Index from the KBW Bank Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPMortgageFinanceSMETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 30.39% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -47.62% (Q4 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.3039 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> -0.0523 113 <font style="FONT-FAMILY: ARIAL" size="2">Effective October 24, 2011, the Fund has changed its benchmark index to the S&amp;P Mortgage Finance Select Industry Index from the KBW Mortgage Finance Index. The Fund&#8217;s performance prior to October 24, 2011 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> 113 <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></div> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 0.70% (Q1 2008)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -0.03% (Q4 2011)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.007 2011-12-31 43 -0.0005 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)Barclays1-3MonthT-BillETFBarChart column period compact * ~</div> 113 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 59 144 43 0.009 48 0.0519 0.2974 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> 40 <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysIntermediateTermCorporateBondETFBarChart column period compact * ~</div> 0.0142 <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 10.56% (Q3 2010)<br/>Lowest Quarterly Return: -5.52% (Q3 2011)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> 0.2455 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 2010-12-31 0.1056 2011-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 39 0.1377 43 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)WellsFargo(R)PreferredStockETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 24.55% (Q3 2011)<br/>Lowest Quarterly Return: -8.17% (Q4 2010)</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS </b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 6.53% (Q4 2008)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -2.16% (Q2 2009)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.0653 2009-06-30 0.0646 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysLongTermTreasuryETFBarChart column period compact * ~</div> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysIntermediateTermTreasuryETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 4.07% (Q3 2010)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -1.38% (Q4 2010)</font> 0.0407 2010-12-31 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the price and yield performance of an index different from the Barclays U.S. Intermediate Term Corporate Bond Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the price and yield performance of an index different from the Barclays U.S. Intermediate Term Corporate Bond Index. Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index.</font> 48 0.1493 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysLongTermCorporateBondETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Arial" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 8.89% (Q3 2011)<br/>Lowest Quarterly Return: -3.33% (Q4 2010)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the price and yield performance of an index different from the to Barclays U.S. Long Term Corporate Bond Index. </font><br/><font style="FONT-FAMILY: ARIAL" size="2">Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: Arial" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.0889 2010-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">Prior to December 17, 2010, the Fund&#8217;s investment strategy sought to track the price and yield performance of an index different from the to Barclays U.S. Long Term Corporate Bond Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Performance of the Fund prior to December 17, 2010 is therefore based on the Fund&#8217;s prior investment strategy to track a different benchmark index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 52 128 -0.066 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysConvertibleSecuritiesETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 8.91% (Q3 2010)<br/>Lowest Quarterly Return: -13.25% (Q3 2011)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.0891 2011-09-30 <font style="FONT-FAMILY: Arial" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 103 0.0629 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysMortgageBackedBondETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 3.24% (Q2 2010)<br/>Lowest Quarterly Return: 0.36% (Q4 2010)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.0324 2010-12-31 -0.0005 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPRSemiconductorETFBarChart column period compact * ~</div> 67 0.0761 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysAggregateBondETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 5.90% (Q4 2008)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -1.23% (Q2 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.059 2008-06-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 23.93% (Q2 2009)<br/>Lowest Quarterly Return: -31.08% (Q4 2008)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.2393 2008-12-31 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. </font> 160 0.036 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> 64 <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 113 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 5.44% (Q1 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -3.56% (Q3 2008)</font> 0.0029 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 64 0.0086 0.0027 2010-03-31 0.0544 2008-09-30 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysTIPSETFBarChart column period compact * ~</div> 0.1544 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysShortTermInternationalTreasuryBondETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 11.62% (Q3 2010)<br/>Lowest Quarterly Return: -5.05% (Q3 2008)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 64 0.1162 2008-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)NuveenBarclaysCaliforniaMunicipalBondETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRBarclaysInternationalTreasuryBondETFBarChart column period compact * ~</div> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"><font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 12.86% (Q3 2010)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -6.00% (Q3 2011)</font> -0.0005 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 155 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 2011-09-30 0.0186 <font style="FONT-FAMILY: ARIAL" size="2"> Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 1.86% (Q3 2010)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -0.56% (Q3 2011)</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysShortTermCorporateBondETFBarChart column period compact * ~</div> 160 <font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return: 0.27% (Q3 2011)<br/>Lowest Quarterly Return: 0.02% (Q1 2010)</font> 0.0249 <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> 0.1286 2011-09-30 <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)DBInternationalGovernmentInflation-ProtectedBondETFBarChart column period compact * ~</div> 0.1145 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> -0.0007 <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> 89 <font style="FONT-FAMILY: ARIAL" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: Arial" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund ("Shares"). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund's Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 7.51% (Q3 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -5.50% (Q4 2010)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 10.08% (Q3 2009)<br/>Lowest Quarterly Return: -7.87% (Q4 2010)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS (for periods ending 12/31/11)</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 2010-12-31 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.0751 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.1008 2010-12-31 0.1187 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)NuveenBarclaysMunicipalBondETFBarChart column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)NuveenBarclaysNewYorkMunicipalBondETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRSPROilGasEquipmentServicesETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 2.84% (Q4 2008)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -0.95% (Q4 2010)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> 0.0284 <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> 2010-12-31 <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 1.22em"><font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 14.39% (Q3 2011)</font></p><p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 1.22em"><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: 0.73% (Q4 2011)</font></p> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 6.75% (Q3 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -5.25% (Q4 2010)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> </blockquote></blockquote> <blockquote><blockquote> <font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b> </font><font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 0.1439 2011-12-31 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: Arial" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.0675 2010-12-31 113 0.2612 64 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDRRNuveenSPRVRDOMunicipalBondETFBarChart column period compact * ~</div> 0.035 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)NuveenBarclaysBuildAmericaBondETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 9.52% (Q3 2010)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -4.93% (Q2 2010)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund's performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.0952 2010-06-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)NuveenBarclaysShortTermMunicipalBondETFBarChart column period compact * ~</div> 176 0.0044 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 4.76% (Q1 2011)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -6.36% (Q3 2011)</font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS</b> (for periods ending 12/31/11)</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 0.0476 2011-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 160 <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysInternationalCorporateBondETFBarChart column period compact * ~</div> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b> </font><font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 128 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 48 128 0.047 160 <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 97 <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: Arial" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE </b></font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return: 22.44% (Q2 2009)</font><br/><font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return: -18.59% (Q4 2008)</font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>AVERAGE ANNUAL TOTAL RETURNS (for periods ending 12/31/11)</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The returns after taxes can exceed the return before taxes due to an assumed tax benefit for a shareholder from realizing a capital loss on a sale of Fund Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2"> As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">Your actual after-tax returns will depend on your specific tax situation and may differ from those shown below. After-tax returns are not relevant to investors who hold Shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> 0.2244 2008-12-31 <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualTotalReturnsSPDR(R)BarclaysHighYieldBondETFBarChart column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY: Times New Roman" size="2"><i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY: Times New Roman" size="2"><i>Non-Diversification Risk:</i></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font> <font style="FONT-FAMILY: Arial" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Non-Diversification Risk: </b></font><font style="FONT-FAMILY: Times New Roman" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY: Times New Roman" size="2"><i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY: Times New Roman" size="2"><i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote> <font style="FONT-FAMILY: Times New Roman" size="2"><b>NON-DIVERSIFICATION RISK: </b></font><font style="FONT-FAMILY: Times New Roman" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2"><b>INVESTMENT OBJECTIVE</b></font></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: ARIAL" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Arial" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: Times New Roman" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i>Non-Diversification Risk: </i>The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>INVESTMENT OBJECTIVE</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. </font> <font style="FONT-FAMILY: Times New Roman" size="2">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> 113 -0.001 <blockquote><blockquote><font style="FONT-FAMILY: Times New Roman" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: Times New Roman" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> 2012-10-31 0001064642 2012-10-31 false 0.0025 0 0 0.0025 318 0.1518 0.0873 0.0789 -0.41 0.4684 0.3023 0.0349 0.0333 0.0236 0.0362 0.0025 0 0 0.0025 0.002 0 0 0.002 318 0.0025 0 0 0.0025 0.002 0 0 -0.0083 -0.011 -0.0035 -0.0067 0.002 0.0522 0.0469 0.0432 0.0535 318 255 0.002 0 0 0.002 0.016 0.0128 0.0137 0.0171 255 0.0559 -0.026 -0.0298 -0.0148 -0.0243 -0.3873 0.0283 0.0245 0.0233 0.0291 0.442 0.2501 255 0.0492 0.0315 0.031 0.0257 0.0249 0.039 0.1077 -0.3748 0.371 0.1634 -0.0066 -0.0102 -0.0003 -0.0048 <font style="FONT-FAMILY: ARIAL" size="1">Fund&#8217;s Calendar Year-To-Date return</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 0.0443 0.0415 <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> 0.032 0.0465 0.0621 -0.369 0.2689 0.1584 0.1312 0.0548 0.017 -0.3649 0.1717 0.1539 <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDR(R)DowJonesLargeCapETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAverageAnnualTotalReturnsTransposedSPDR(R)DowJonesLargeCapETF column period compact * ~</div> -0.0152 -0.3464 0.3164 0.2169 0.0025 0 0 0.0025 318 <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR S&amp;P 400 Mid Cap Value ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of medium capitalization exchange traded U.S. equity securities exhibiting &#8220;value&#8221; characteristics.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND</b></font> -0.0085 -0.018 <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER:</b></font> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR S&amp;P 500 Value ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of large capitalization exchange traded U.S. equity securities exhibiting &#8220;value&#8221; characteristics.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER:</b></font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the S&amp;P 500 Value Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font> <br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index measures the performance of the large-capitalization value sector in the U.S. equity market. The Index consists of those stocks in the S&amp;P 500 Index exhibiting the strongest value characteristics based on: (i) book value to price ratio; (ii) earnings to price ratio; and (iii) sales to price ratio. The selection universe for the S&amp;P 500 Index includes all U.S. common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations generally of $4.0 billion or more at the time of inclusion. Capitalization ranges may be revised by the Index Provider (as defined below) at any time. To be included in the Index, a security should (i) have an annual dollar value traded to float adjusted market capitalization ratio of 1 or greater; (ii) trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date; (iii) have a public float of at least 50%; and (iv) have four consecutive quarters of positive as-reported earnings. The Index is market capitalization weighted and rebalanced annually on the third Friday of December. As of September 30, 2012, the Index was comprised of 368 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy.</font></blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.</font></blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>LARGE CAP RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies. </font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>VALUE RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund employs a &#8220;value&#8221; style of investing that emphasizes undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on &#8220;value&#8221; equity securities are less than returns on other styles of investing or the overall stock market. </font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font></blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR Dow Jones Mid Cap ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of mid-capitalization exchange traded U.S. equity securities.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER: </b></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the Dow Jones U.S. Mid-Cap Total Stock Market Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is a float-adjusted market capitalization weighted index that represents the mid-cap portion of the Dow Jones U.S. Total Stock Market Index (&#8220;Total Stock Market Index&#8221;). The Total Stock Market Index tracks all the U.S. common stocks regularly traded on the New York Stock Exchange, NYSE Amex and the NASDAQ Stock Market. The Index includes the components of the Total Stock Market Index ranked 501-1,000 by full market capitalization. The composition of the Index is assigned based on the semiannual review of the Total Stock Market Index. New issues are added to the Index on a monthly basis as new issues are added to the Total Stock Market Index and fall within the mid cap portion. An issue is removed as soon as prudently possible if it fails to meet the inclusion requirement of the Total Stock Market Index. Shares and float factors of the Index are updated on a quarterly basis. As of September 30, 2012, the Index was comprised of 502 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> -0.0138 <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> -0.0153 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL TOTAL RETURN (years ended 12/31) </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> 0.1796 0.0589 <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> -0.0422 -0.3358 <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at<br/><u>http://www.spdrs.com</u>.</font> 0.3657 0.2421 <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b>&nbsp;&nbsp;</font><font style="FONT-FAMILY: ARIAL" size="2">The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font></blockquote></blockquote><blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b>&nbsp;&nbsp;</font><font style="FONT-FAMILY: ARIAL" size="2">While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>MID CAP RISK:</b> &nbsp;&nbsp;</font><font style="FONT-FAMILY: ARIAL" size="2">Mid-sized companies may be more volatile and more likely than large-capitalization companies to have relatively limited product lines, markets or financial resources, or depend on a few key employees. Returns on investments in stocks of mid-size companies could trail the returns on investments in stocks of larger or smaller companies. </font></blockquote></blockquote><blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>VALUE RISK:</b>&nbsp;&nbsp;&nbsp;</font><font style="FONT-FAMILY: ARIAL" size="2">The Fund employs a &#8220;value&#8221; style of investing that emphasizes undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on &#8220;value&#8221; equity securities are less than returns on other styles of investing or the overall stock market. </font> </blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b>&nbsp;&nbsp; </font><font style="FONT-FAMILY: ARIAL" size="2">An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font></blockquote></blockquote><blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b>&nbsp;&nbsp; </font><font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR Dow Jones Large Cap ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of large capitalization exchange traded U.S. equity securities.</font></div> <font style="FONT-FAMILY: ARIAL" size="2"><b>FEES AND EXPENSES OF THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="1"><b>PORTFOLIO TURNOVER: </b></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the Dow Jones U.S. Large-Cap Total Stock Market Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is a float-adjusted market capitalization weighted index that represents the large-cap portion of the Dow Jones U.S. Total Stock Market Index (&#8220;Total Stock Market Index&#8221;). The Total Stock Market Index tracks all the U.S. common stocks regularly traded on the New York Stock Exchange, NYSE Amex and the NASDAQ Stock Market. The Index includes the components of the Total Stock Market Index ranked approximately 1-750 by full market capitalization. The composition of the Index is assigned based on the semiannual review of the Total Stock Market Index. New issues are added to the Index on a monthly basis as new issues are added to the Total Stock Market Index and fall within the large cap portion. An issue is removed as soon as prudently possible if it fails to meet the inclusion requirement of the Total Stock Market Index. Shares and float factors of the Index are updated on a quarterly basis. As of September 30, 2012, the Index was comprised of 749 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><br/><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>LARGE CAP RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp; The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: ARIAL" size="2"><b>FUND PERFORMANCE </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL TOTAL RETURN</b> (years ended 12/31)</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDR(R)DowJonesMidCapETF column period compact * ~</div> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR S&amp;P 500 Growth ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of large capitalization exchange traded U.S. equity securities exhibiting &#8220;growth&#8221; characteristics.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER: </b></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the S&amp;P 500 Growth Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br /><br /><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2">The Index measures the performance of the large-capitalization growth sector in the U.S. equity market. The Index consists of those stocks in the S&amp;P 500 Index exhibiting the strongest growth characteristics based on: (i) sales growth; (ii) earnings change to price; and (iii) momentum. The selection universe for the S&amp;P 500 Index includes all U.S. common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations generally of $4.0 billion or more at the time of inclusion. Capitalization ranges may be revised by the Index Provider (as defined below) at any time. To be included in the Index, a security should (i) have an annual dollar value traded to float adjusted market capitalization ratio of 1 or greater; (ii) trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date; (iii) have a public float of at least 50%; and (iv) have four consecutive quarters of positive as-reported earnings. The Index is market capitalization weighted and rebalanced annually on the third Friday of December. As of September 30, 2012, the Index was comprised of 280 stocks. </font><br /><br /><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font><br /><br /> <font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund. </font><br /><br /> <font style="FONT-FAMILY: ARIAL" size="1"><b>LARGE CAP RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies. </font><br /><br /> <font style="FONT-FAMILY: ARIAL" size="1"><b>GROWTH RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund emphasizes a &#8220;growth&#8221; style of investing. The market values of growth stocks may be more volatile than other types of investments. The prices of growth stocks tend to reflect future expectations, and when those expectations change or are not met, share prices generally fall. The returns on &#8220;growth&#8221; securities may or may not move in tandem with the returns on other styles of investing or the overall stock market. </font><br /><br /> <font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font><br /><br /> <font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR S&amp;P 600 Small Cap Growth ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of small capitalization exchange traded U.S. equity securities exhibiting &#8220;growth&#8221; characteristics.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND</b></font> <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the S&amp;P SmallCap 600 Growth Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund).</font> <br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index measures the performance of the small-capitalization growth sector in the U.S. equity market. The Index consists of those stocks in the S&amp;P SmallCap 600 Index exhibiting the strongest growth characteristics based on: (i) sales growth; (ii) earnings change to price; and (iii) momentum. The selection universe for the S&amp;P SmallCap 600 Index includes all U.S. common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations generally between $300 million and $1.4 billion at the time of inclusion. Capitalization ranges may be revised by the Index Provider (as defined below) at any time. To be included in the Index, a security should (i) have an annual dollar value traded to float adjusted market capitalization ratio of 1 or greater; (ii) trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date; (iii) have a public float of at least 50%; and (iv) have four consecutive quarters of positive as-reported earnings. The Index is market capitalization weighted and rebalanced annually on the third Friday of December. As of September 30, 2012, the Index was comprised of 331 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><br/><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.</font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>SMALL CAP RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;Small-sized companies may be more volatile and more likely than large- and mid-capitalization companies to have relatively limited product lines, markets or financial resources, or depend on a few key employees. Returns on investments in stocks of small companies could trail the returns on investments in stocks of larger companies. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>GROWTH RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund emphasizes a &#8220;growth&#8221; style of investing. The market values of growth stocks may be more volatile than other types of investments. The prices of growth stocks tend to reflect future expectations, and when those expectations change or are not met, share prices generally fall. The returns on &#8220;growth&#8221; securities may or may not move in tandem with the returns on other styles of investing or the overall stock market.</font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2"> &nbsp;The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL TOTAL RETURN</b> (years ended 12/31)</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL TOTAL RETURN </b> (years ended 12/31)</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><br/><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>MID CAP RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">Mid-sized companies may be more volatile and more likely than large-capitalization companies to have relatively limited product lines, markets or financial resources, or depend on a few key employees. Returns on investments in stocks of mid-size companies could trail the returns on investments in stocks of larger or smaller companies. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR S&amp;P 400 Mid Cap Growth ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of medium capitalization exchange traded U.S. equity securities exhibiting &#8220;growth&#8221; characteristics.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER: </b></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the S&amp;P MidCap 400 Growth Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index measures the performance of the mid-capitalization growth sector in the U.S. equity market. The Index consists of those stocks in the S&amp;P MidCap 400 Index exhibiting the strongest growth characteristics based on: (i) sales growth; (ii) earnings change to price; and (iii) momentum. The selection universe for the S&amp;P MidCap 400 Index includes all U.S. common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations generally between $1 billion and $4.4 billion at the time of inclusion. Capitalization ranges may be revised by the Index Provider (as defined below) at any time. To be included in the Index, a security should (i) have an annual dollar value traded to float adjusted market capitalization ratio of 1 or greater; (ii) trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date; (iii) have a public float of at least 50%; and (iv) have four consecutive quarters of positive as-reported earnings. The Index is market capitalization weighted and rebalanced annually on the third Friday of December. As of September 30, 2012, the Index was comprised of 236 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</font><br/><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b> </font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>MID CAP RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> Mid-sized companies may be more volatile and more likely than large-capitalization companies to have relatively limited product lines, markets or financial resources, or depend on a few key employees. Returns on investments in stocks of mid-size companies could trail the returns on investments in stocks of larger or smaller companies. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>GROWTH RISK:</b>&nbsp;&nbsp; </font><font style="FONT-FAMILY: ARIAL" size="2"> The Fund emphasizes a &#8220;growth&#8221; style of investing. The market values of growth stocks may be more volatile than other types of investments. The prices of growth stocks tend to reflect future expectations, and when those expectations change or are not met, share prices generally fall. The returns on &#8220;growth&#8221; securities may or may not move in tandem with the returns on other styles of investing or the overall stock market. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2"> The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: ARIAL" size="1">Fund's Calendar Year-To-Date return</font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 2009-06-30 <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> <font style="FONT-FAMILY: ARIAL" size="1">Fund's Calendar Year-To-Date return</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 2009-06-30 <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL TOTAL RETURN</b> (years ended 12/31)</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRSP400MidCapValueETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="FONT-FAMILY: Arial" size="2">Highest Quarterly Return:</font> 2009-06-30 <font style="FONT-FAMILY: Arial" size="2">Lowest Quarterly Return:</font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. </font> <font style="FONT-FAMILY: Arial" size="1">Fund's Calendar Year-To-Date return </font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. </font> <font style="FONT-FAMILY: ARIAL" size="1">Fund&#8217;s Calendar Year-To-Date return</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 2009-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAverageAnnualTotalReturnsTransposedSPDRRSP400MidCapValueETF column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the S&amp;P MidCap 400 Value Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index measures the performance of the mid-capitalization value sector in the U.S. equity market. The Index consists of those stocks in the S&amp;P MidCap 400 Index exhibiting the strongest value characteristics based on: (i) book value to price ratio; (ii) earnings to price ratio; and (iii) sales to price ratio. The selection universe for the S&amp;P MidCap 400 Index includes all U.S. common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations generally between $1 billion and $4.4 billion at the time of inclusion. Capitalization ranges may be revised by the Index Provider (as defined below) at any time. To be included in the Index, a security should (i) have an annual dollar value traded to float adjusted market capitalization ratio of 1 or greater; (ii) trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date; (iii) have a public float of at least 50%; and (iv) have four consecutive quarters of positive as-reported earnings. The Index is market capitalization weighted and rebalanced annually on the third Friday of December. As of September 30, 2012, the Index was comprised of 300 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 2003-06-30 <font style="FONT-FAMILY: ARIAL" size="1">Fund&#8217;s Calendar Year-To-Date return</font> <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> 0.0025 0 0 0.0025 0.005 0 0 0.005 628 <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 2009-09-30 <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRSP600SmallCapGrowthETF column period compact * ~</div> -0.1158 -0.1195 -0.0711 -0.117 0.007 0.0101 0.0072 0.01 0.0108 <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR S&amp;P 600 Small Cap Value ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of small capitalization exchange traded U.S. equity securities exhibiting &#8220;value&#8221; characteristics.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND</b></font> <font style="FONT-FAMILY: ARIAL" size="1">Fund&#8217;s Calendar Year-To-Date return</font> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER:<b/></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the S&amp;P SmallCap 600 Value Index (the &#8220;Index&#8221;), the Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. </font><br /><br /><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund). </font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2">The Index measures the performance of the small-capitalization value sector in the U.S. equity market. The Index consists of those stocks in the S&amp;P SmallCap 600 Index exhibiting the strongest value characteristics based on: (i) book value to price ratio; (ii) earnings to price ratio; and (iii) sales to price ratio. The selection universe for the S&amp;P SmallCap 600 Index includes all U.S. common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations generally between $300 million and $1.4 billion at the time of inclusion. Capitalization ranges may be revised by the Index Provider (as defined below) at any time. To be included in the Index, a security should (i) have an annual dollar value traded to float adjusted market capitalization ratio of 1 or greater; (ii) trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date; (iii) have a public float of at least 50%; and (iv) have four consecutive quarters of positive as-reported earnings. The Index is market capitalization weighted and rebalanced annually on the third Friday of December. As of September 30, 2012, the Index was comprised of 455 stocks. </font><br /><br /><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b></font> <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><br /><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>SMALL CAP RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">Small-sized companies may be more volatile and more likely than large- and mid-capitalization companies to have relatively limited product lines, markets or financial resources, or depend on a few key employees. Returns on investments in stocks of small companies could trail the returns on investments in stocks of larger companies. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>VALUE RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund employs a &#8220;value&#8221; style of investing that emphasizes undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on &#8220;value&#8221; equity securities are less than returns on other styles of investing or the overall stock market. </font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices.</font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities. </font></blockquote></blockquote> 318 <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> 255 <font style="FONT-FAMILY: ARIAL" size="1"><b>ANNUAL TOTAL RETURN (years ended 12/31)</b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAverageAnnualTotalReturnsTransposedSPDRRSP600SmallCapGrowthETF column period compact * ~</div> 0.002 <font style="FONT-FAMILY: ARIAL" size="2">The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font> 0 0 0.002 <font style="FONT-FAMILY: ARIAL" size="2">The after-tax returns presented in the table below are calculated using highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> 0.1104 -0.4155 0.5537 0.267 <font style="FONT-FAMILY: ARIAL" size="2">Highest Quarterly Return:</font> 2009-09-30 <font style="FONT-FAMILY: ARIAL" size="2">Lowest Quarterly Return:</font> -0.0107 -0.0121 -0.0061 -0.0094 0.0645 0.0619 0.0551 0.0583 <font style="FONT-FAMILY: ARIAL" size="1">Fund&#8217;s Calendar Year-To-Date return</font> 0.0732 0.029 0.0595 -0.3773 0.234 0.0473 0.0035 0 0 <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRSP400MidCapGrowthETF column period compact * ~</div> 0.0035 <div style="MARGIN-LEFT: 1.14em"><font style="FONT-FAMILY: ARIAL" size="2">The SPDR Dow Jones Total Market ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks a broad universe of exchange traded U.S. equity securities.</font></div> <font style="FONT-FAMILY: Arial" size="2"><b>FEES AND EXPENSES OF THE FUND </b></font> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAverageAnnualTotalReturnsTransposedSPDRRSP400MidCapGrowthETF column period compact * ~</div> <font style="FONT-FAMILY: Arial" size="1"><b>PORTFOLIO TURNOVER:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">In seeking to track the performance of the Dow Jones U.S. Total Stock Market Index (the &#8220;Index&#8221;), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. SSgA Funds Management, Inc. (&#8220;SSgA FM&#8221; or the &#8220;Adviser&#8221;), the investment adviser to the Fund, generally expects the Fund to hold less than the total number of securities in the Index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund&#8217;s investment objective. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). </font> <br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is designed to represent the performance of all U.S. equity securities with readily available price data. The Index tracks all the U.S. common stocks regularly traded on the New York Stock Exchange, NYSE Amex and the NASDAQ Stock Market. The Index is a float-adjusted market capitalization weighted index that reflects shares of securities actually available to investors in the marketplace. To be included in the Index, an issue generally must be all of the following: (i) a company&#8217;s primary equity issue (common stock, REIT or limited partnership); and (ii) the security of a U.S. company. A semiannual composition review of the Index is announced and implemented in March and September. Shares and float factors of the Index are updated on a quarterly basis. Except to account for stock splits and reverse splits, shares and float factors will not be adjusted for bulletin board, NYSE Arca and pink sheet stocks until they are returned to exchange listings. Companies that are re-listed as of the close of trading on the second Friday of each month will have their shares and float adjustments made at the same time as the monthly index additions and deletions, after the close of trading on the third Friday of each month. As of September 30, 2012, the Index was comprised of 3,640 stocks. </font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The Index is sponsored by S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221;) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. </font> <font style="FONT-FAMILY: Arial" size="2"><b>PRINCIPAL RISKS OF INVESTING IN THE FUND</b></font> <font style="FONT-FAMILY: ARIAL" size="2">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. </font><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>PASSIVE STRATEGY/INDEX RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower than if the Fund employed an active strategy.</font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>INDEX TRACKING RISK:</b></font><font style="FONT-FAMILY: ARIAL" size="2">&nbsp;&nbsp;While the Adviser seeks to track the performance of the Index as closely as possible (<i>i.e., </i>achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to operating expenses, transaction costs, cash flows, regulatory requirements and operational inefficiencies. For example, the Adviser anticipates that it may take several business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.</font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>EQUITY INVESTING RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">An investment in the Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices.</font></blockquote></blockquote><blockquote><blockquote><font style="FONT-FAMILY: ARIAL" size="1"><b>NON-DIVERSIFICATION RISK:</b></font>&nbsp;&nbsp;<font style="FONT-FAMILY: ARIAL" size="2">The Fund is non-diversified and may invest a larger percentage of its assets in securities of a few issuers or a single issuer than that of a diversified fund. As a result, the Fund&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</font></blockquote></blockquote> <font style="FONT-FAMILY: Arial" size="2"><b>FUND PERFORMANCE</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for certain time periods compare with the average annual returns of the Index. The Fund&#8217;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at <u>http://www.spdrs.com</u>.</font> <font style="FONT-FAMILY: Arial" size="1"><b>ANNUAL TOTAL RETURN</b> (year ended 12/31)</font> -0.2181 -0.4739 -0.0144 0.2293