0001193125-13-288056.txt : 20130711 0001193125-13-288056.hdr.sgml : 20130711 20130711150039 ACCESSION NUMBER: 0001193125-13-288056 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130711 DATE AS OF CHANGE: 20130711 EFFECTIVENESS DATE: 20130711 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPDR SERIES TRUST CENTRAL INDEX KEY: 0001064642 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-57793 FILM NUMBER: 13963816 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 S000039794 SPDR Russell 1000 Low Volatility ETF C000123372 SPDR Russell 1000 Low Volatility ETF LGLV 0001064642 S000039795 SPDR Russell 2000 Low Volatility ETF C000123373 SPDR Russell 2000 Low Volatility ETF SMLV 497 1 d551640d497.htm SPDR SERIES TRUST SPDR Series Trust

SPDR® Series Trust

One Lincoln Street

Boston, MA 02111

July 11, 2013

VIA EDGAR

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Attention: Office of Filings, Information & Consumer Service

 

RE: SPDR Series Trust (“Registrant”)

File Nos.: 333-57793 and 811-08839

Dear Sir/Madam:

Pursuant to Rule 497 under the Securities Act of 1933, as amended, please find the XBRL-coded version of prospectus disclosure for the SPDR Russell 1000 Low Volatility ETF and the SPDR Russell 2000 Low Volatility ETF, each a series of the above-referenced Registrant. The attached XBRL-coded prospectus disclosure is based on the disclosure found in the Rule 497 filing for the Registrant on June 20, 2013 (Accession No. 0001193125-13-265957).

Any comments or questions with respect to this filing should be directed to my attention at (617) 662-3967.

Sincerely,

 

/s/ Mark E. Tuttle

Mark E. Tuttle
Assistant Secretary


Exhibit Index

 

Exhibit No.

    
EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 2 spdrst-20130620.xml XBRL INSTANCE DOCUMENT 0001064642 spdrst:S000039794Member spdrst:C000123372Member 2012-06-21 2013-06-20 0001064642 spdrst:S000039794Member 2012-06-21 2013-06-20 0001064642 2012-06-21 2013-06-20 0001064642 spdrst:S000039795Member 2012-06-21 2013-06-20 0001064642 spdrst:S000039795Member spdrst:C000123373Member 2012-06-21 2013-06-20 pure iso4217:USD 0.002 0 <b>EXAMPLE: </b> 64 <b>PORTFOLIO TURNOVER: </b> SPDR SERIES TRUST 0001064642 2013-06-20 2013-06-20 Other 2013-06-20 false 2013-06-20 The SPDR Russell 1000 Low Volatility ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a large cap, low volatility index. <b>FEES AND EXPENSES OF THE FUND </b> 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. 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: 20 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. <b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b> <b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b> <b>FUND PERFORMANCE </b> The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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. FUND SUMMARIES<br/><br/><b>SPDR Russell 1000<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Low Volatility ETF </b> <b>INVESTMENT OBJECTIVE</b> <b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment): In seeking to track the performance of the Russell 1000<b><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></b> Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective. <br/><br/>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).<br/><br/> The Index includes large cap U.S. equity securities and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 1000<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Index, which measures the performance of the large cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 200 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 96 securities in the Index. <b>EXAMPLE: </b> As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. <blockquote><b>PASSIVE STRATEGY/INDEX RISK:</b> 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's return to be lower than if the Fund employed an active strategy. <br/><br/><b>INDEX TRACKING RISK:</b> While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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. <br/><br/><b>INDEX CONSTRUCTION RISK:</b> A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market. <br/><br/><b>EQUITY INVESTING RISK:</b> 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. <br/><br/><b>LARGE CAP RISK:</b> Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies. <br/><br/><b>LOW VOLATILITY RISK:</b> Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels. <br/><br/><b>CONCENTRATION RISK:</b> The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors. <br/><br/><b>TURNOVER RISK:</b> The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance. <br/><br/><b>NON-DIVERSIFICATION RISK:</b> 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.</blockquote> <b>SPDR Russell 2000<sup>&#174;</sup> Low Volatility ETF </b> <b>INVESTMENT OBJECTIVE</b> The SPDR Russell 2000 Low Volatility ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index. <b>FEES AND EXPENSES OF THE FUND </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). &#8220;Acquired Fund Fees and Expenses&#8221; reflect the Fund&#8217;s pro rata share of the fees and expenses incurred indirectly through its ownership in other investment companies, such as business development companies (&#8220;BDCs&#8221;). BDC expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by the Fund shareholders and are not used to calculate the Fund&#8217;s net asset value. They have no impact on the costs associated with fund operations. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. <b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment): 0.0025 0 0 0.0013 0.0038 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: 39 122 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. <b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b> <b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b> <b>FUND PERFORMANCE </b> The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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. In seeking to track the performance of the Russell 2000<sup>&#174;</sup> Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.<br/><br/> 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).<br/><br/> The Index includes small cap U.S. equity securities, including BDCs, and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 2000<sup>&#174;</sup> Index, which measures the performance of the small cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 400 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or the "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 165 securities in the Index. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. &#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. <blockquote><b>NON-DIVERSIFICATION RISK:</b> 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.</blockquote> The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 0 As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.<blockquote><b>PASSIVE STRATEGY/INDEX RISK: </b>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's return to be lower than if the Fund employed an active strategy.</blockquote><blockquote><b> INDEX TRACKING RISK: </b>While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.</blockquote><blockquote><b> INDEX CONSTRUCTION RISK: </b>A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.</blockquote><blockquote><b> EQUITY INVESTING RISK: </b>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.</blockquote><blockquote><b> SMALL CAP RISK: </b>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.</blockquote><blockquote><b> LOW VOLATILITY RISK: </b>Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.</blockquote><blockquote><b>CONCENTRATION RISK: </b>The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.</blockquote><blockquote><b>TURNOVER RISK: </b>The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.</blockquote><blockquote><b> NON-DIVERSIFICATION RISK: </b>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.</blockquote> 0.002 &#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares. As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. <blockquote><b> NON-DIVERSIFICATION RISK: </b>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.</blockquote> The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell2000LowVolatilityETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell2000LowVolatilityETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell1000LowVolatilityETF column period compact * ~</div> <div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell1000LowVolatilityETF column period compact * ~</div> <b>PORTFOLIO TURNOVER:</b> The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation. "Other Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund Fees and Expenses" are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. Acquired Fund Fees and Expenses are based on estimated amounts for the current fiscal year. EX-101.SCH 3 spdrst-20130620.xsd XBRL TAXONOMY EXTENSION SCHEMA 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - SPDR Russell 1000 Low Volatility ETF link:presentationLink link:calculationLink link:definitionLink 000012 - Schedule - Shareholder Fees {- SPDR Russell 1000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000013 - Schedule - Annual Fund Operating Expenses {- SPDR Russell 1000 Low Volatility ETF} link:calculationLink link:presentationLink link:definitionLink 000014 - Schedule - Expense Example {Transposed} {- SPDR Russell 1000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000015 - Schedule - Expense Example, No Redemption {Transposed} {- SPDR Russell 1000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000016 - Schedule - Annual Total Returns - SPDR Russell 1000 Low Volatility ETF [BarChart] link:presentationLink link:calculationLink link:definitionLink 000017 - Schedule - Average Annual Total Returns {Transposed} {- SPDR Russell 1000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000018 - Document - Risk/Return Detail {Unlabeled} - SPDR Russell 1000 Low Volatility ETF link:presentationLink link:calculationLink link:definitionLink 000019 - Disclosure - Risk/Return Detail Data {Elements} - SPDR Russell 1000 Low Volatility ETF link:presentationLink link:calculationLink link:definitionLink 000021 - Document - Risk/Return Summary {Unlabeled} - SPDR Russell 2000 Low Volatility ETF link:presentationLink link:calculationLink link:definitionLink 000022 - Schedule - Shareholder Fees {- SPDR Russell 2000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000023 - Schedule - Annual Fund Operating Expenses {- SPDR Russell 2000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000024 - Schedule - Expense Example {Transposed} {- SPDR Russell 2000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000025 - Schedule - Expense Example, No Redemption {Transposed} {- SPDR Russell 2000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000026 - Schedule - Annual Total Returns - SPDR Russell 2000 Low Volatility ETF [BarChart] link:presentationLink link:calculationLink link:definitionLink 000027 - Schedule - Average Annual Total Returns {Transposed} {- SPDR Russell 2000 Low Volatility ETF} link:presentationLink link:calculationLink link:definitionLink 000028 - Document - Risk/Return Detail {Unlabeled} - SPDR Russell 2000 Low Volatility ETF link:presentationLink link:calculationLink link:definitionLink 000029 - Disclosure - Risk/Return Detail Data {Elements} - SPDR Russell 2000 Low Volatility ETF link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 spdrst-20130620_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 spdrst-20130620_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 spdrst-20130620_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 7 spdrst-20130620_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 8 R6.xml IDEA: Risk/Return Summary - SPDR Russell 2000 Low Volatility ETF 2.4.0.8000021 - Document - Risk/Return Summary {Unlabeled} - SPDR Russell 2000 Low Volatility ETFfalsefalsetrue1false falsefalseDuration_21Jun2012_20Jun2013S000039795_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:001false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00SPDR Russell 2000 Low Volatility ETFfalsefalsefalse1false truefalseDuration_21Jun2012_20Jun2013S000039795_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:00falsefalsespdrst_S000039795Memberdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039795Memberdei_LegalEntityAxisexplicitMembernanafalse02false 3rr_RiskReturnHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>SPDR Russell 2000<sup>&#174;</sup> Low Volatility ETF </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 false03false 3rr_ObjectiveHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>INVESTMENT OBJECTIVE</b>falsefalsefalsexbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false04false 3rr_ObjectivePrimaryTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The SPDR Russell 2000 Low Volatility ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index.falsefalsefalsenonnum:textBlockItemTypenaInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false05false 3rr_ExpenseHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FEES AND EXPENSES OF THE FUND </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. 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 __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph d false06false 3rr_ExpenseNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). &#8220;Acquired Fund Fees and Expenses&#8221; reflect the Fund&#8217;s pro rata share of the fees and expenses incurred indirectly through its ownership in other investment companies, such as business development companies (&#8220;BDCs&#8221;). BDC expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by the Fund shareholders and are not used to calculate the Fund&#8217;s net asset value. They have no impact on the costs associated with fund operations. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.falsefalsefalsenonnum:textBlockItemTypenaThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown. The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph b false07false 3rr_OperatingExpensesCaptionrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):falsefalsefalsexbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 7 false08false 3rr_AnnualFundOperatingExpensesTableTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell2000LowVolatilityETF column period compact * ~</div> falsefalse<div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell2000LowVolatilityETF column period compact * ~</div> falsehttp://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell2000LowVolatilityETF000023 - Schedule - Annual Fund Operating Expenses {- SPDR Russell 2000 Low Volatility ETF}truefalsefalse1falseColumnperiodPeriod*Columndei_LegalEntityAxisAxis*Columnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 2000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039795Memberdei_LegalEntityAxisexplicitMemberfalsefalseSPDR Russell 2000 Low Volatility ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_C000123373Memberrr_ProspectusShareClassAxisexplicitMemberSPDR Russell 2000 Low Volatility ETFSPDR Russell 2000 Low Volatility ETFpureStandardhttp://www.xbrl.org/2003/instancepure0Standard0 USDfalsefalseduration2012-06-21T00:00:002013-06-20T00:00:00$1falseRowprimaryElement*3false 3rr_ManagementFeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph a false0 0rr_ManagementFeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.00250.0025falsefalsefalserr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph a false02falseRowprimaryElement*4false 3rr_DistributionAndService12b1FeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 9 false0 0rr_DistributionAndService12b1FeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel[1]1truetruetrue00falsefalsefalserr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 9 false03falseRowprimaryElement*5false 3rr_OtherExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph c -Clause i false0 0rr_OtherExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel[2]1truetruetrue00falsefalsefalserr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph c -Clause i false04falseRowprimaryElement*6false 3rr_AcquiredFundFeesAndExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 11 false0 0rr_AcquiredFundFeesAndExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel[3]1truetruetrue0.00130.0013falsefalsefalserr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 11 false05falseRowprimaryElement*7false 3rr_ExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalsetotalLabelrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph d true0 0rr_ExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel[2][3]1truetruetrue0.00380.0038falsefalsefalserr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph d true01The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.2"Other Expenses" are based on estimated amounts for the current fiscal year.3"Acquired Fund Fees and Expenses" are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. Acquired Fund Fees and Expenses are based on estimated amounts for the current fiscal year.falseAnnual Fund Operating Expenses UnKnownUnKnownUnKnownUnKnownfalsefalsefalseSheet15041509ColumnperiodPeriod*Columndei_LegalEntityAxisAxis*Columnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsenonnum:textBlockItemTypenaContains a command for the SEC Viewer for the role corresponding to OperatingExpensesData.No definition available.false09false 3rr_ExpenseExampleHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>EXAMPLE: </b>falsefalsefalsexbrli:stringItemTypestringHeading for Expense Example.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false010false 3rr_ExpenseExampleNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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:falsefalsefalsenonnum:textBlockItemTypenaThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 1 false011false 3rr_ExpenseExampleWithRedemptionTableTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell2000LowVolatilityETF column period compact * ~</div> falsefalse<div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell2000LowVolatilityETF column period compact * ~</div> truehttp://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell2000LowVolatilityETF000024 - Schedule - Expense Example {Transposed} {- SPDR Russell 2000 Low Volatility ETF}truefalsefalse1falseColumnprimaryElement*3false 3rr_ExpenseExampleYear01rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false2 USDfalsefalse$2falseColumnprimaryElement*4false 3rr_ExpenseExampleYear03rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 2 false2 USDfalsefalse$1falseRowperiodPeriod*Rowdei_LegalEntityAxisAxis*Rowrr_ProspectusShareClassAxisAxis*RowunitUnit*duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 2000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039795Memberdei_LegalEntityAxisexplicitMemberfalsefalseSPDR Russell 2000 Low Volatility ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_C000123373Memberrr_ProspectusShareClassAxisexplicitMemberSPDR Russell 2000 Low Volatility ETFSPDR Russell 2000 Low Volatility ETFUSDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170 0truefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue3939falsefalsefalse2truefalsetrue122122falsefalsefalsenanafalse0falseExpense Example (USD $)UnKnownUnKnownUnKnownUnKnownfalsefalsefalseSheet211021010ColumnprimaryElement*RowperiodPeriod*Rowdei_LegalEntityAxisAxis*Rowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsenonnum:textBlockItemTypenaContains a command for the SEC Viewer for the role corresponding to ExpenseExample.No definition available.false012false 3rr_PortfolioTurnoverHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PORTFOLIO TURNOVER:</b>falsefalsefalsexbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 5 false013false 3rr_PortfolioTurnoverTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The 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.falsefalsefalsenonnum:textBlockItemTypenaDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 3 false014false 3rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false015false 3rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00In seeking to track the performance of the Russell 2000<sup>&#174;</sup> Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.<br/><br/> 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).<br/><br/> The Index includes small cap U.S. equity securities, including BDCs, and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 2000<sup>&#174;</sup> Index, which measures the performance of the small cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 400 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or the "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 165 securities in the Index.falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false016false 3rr_RiskHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b>falsefalsefalsexbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 false017false 3rr_RiskNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.<blockquote><b>PASSIVE STRATEGY/INDEX RISK: </b>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's return to be lower than if the Fund employed an active strategy.</blockquote><blockquote><b> INDEX TRACKING RISK: </b>While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.</blockquote><blockquote><b> INDEX CONSTRUCTION RISK: </b>A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.</blockquote><blockquote><b> EQUITY INVESTING RISK: </b>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.</blockquote><blockquote><b> SMALL CAP RISK: </b>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.</blockquote><blockquote><b> LOW VOLATILITY RISK: </b>Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.</blockquote><blockquote><b>CONCENTRATION RISK: </b>The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.</blockquote><blockquote><b>TURNOVER RISK: </b>The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.</blockquote><blockquote><b> NON-DIVERSIFICATION RISK: </b>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.</blockquote>falsefalsefalsenonnum:textBlockItemTypenaNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph i -Clause instruction false018false 3rr_BarChartAndPerformanceTableHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FUND PERFORMANCE </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false019false 3rr_PerformanceNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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.falsefalsefalsenonnum:textBlockItemTypenaRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false0falseRisk/Return Summary - SPDR Russell 2000 Low Volatility ETF (SPDR Russell 2000 Low Volatility ETF)UnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.spdrs.com/role/DocumentRiskReturnSummaryUnlabeledSPDRRussell2000LowVolatilityETF119 XML 9 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName SPDR SERIES TRUST
Prospectus Date rr_ProspectusDate Jun. 20, 2013
Document Creation Date dei_DocumentCreationDate Jun. 20, 2013
XML 10 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 11 R9.xml IDEA: Risk/Return Detail Data - SPDR Russell 2000 Low Volatility ETF 2.4.0.8000029 - Disclosure - Risk/Return Detail Data {Elements} - SPDR Russell 2000 Low Volatility ETFtruetruefalse1false falsefalseDuration_21Jun2012_20Jun2013http://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:001true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 3dei_EntityRegistrantNamedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SPDR SERIES TRUSTfalsefalsefalsexbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false03false 3rr_ProspectusDaterr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date of the prospectus.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Subsection a -Paragraph 3 false04false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2false truefalseDuration_21Jun2012_20Jun2013S000039795_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 2000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039795Memberdei_LegalEntityAxisexplicitMembernanafalse05true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse06false 3rr_RiskReturnHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>SPDR Russell 2000<sup>&#174;</sup> Low Volatility ETF </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 false07false 3rr_ObjectiveHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>INVESTMENT OBJECTIVE</b>falsefalsefalsexbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false08false 3rr_ObjectivePrimaryTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The SPDR Russell 2000 Low Volatility ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index.falsefalsefalsenonnum:textBlockItemTypenaInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false09false 3rr_ExpenseHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FEES AND EXPENSES OF THE FUND </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. 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 __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph d false010false 3rr_ExpenseNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (&#8220;Shares&#8221;). &#8220;Acquired Fund Fees and Expenses&#8221; reflect the Fund&#8217;s pro rata share of the fees and expenses incurred indirectly through its ownership in other investment companies, such as business development companies (&#8220;BDCs&#8221;). BDC expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by the Fund shareholders and are not used to calculate the Fund&#8217;s net asset value. They have no impact on the costs associated with fund operations. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.falsefalsefalsenonnum:textBlockItemTypenaThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown. The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph b false011false 3rr_OperatingExpensesCaptionrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):falsefalsefalsexbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 7 false012false 3rr_PortfolioTurnoverHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PORTFOLIO TURNOVER:</b>falsefalsefalsexbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 5 false013false 3rr_PortfolioTurnoverTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The 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.falsefalsefalsenonnum:textBlockItemTypenaDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 3 false014false 3rr_ExpenseExchangeTradedFundCommissionsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.falsefalsefalsexbrli:stringItemTypestringModify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph e -Clause i false015false 3rr_OtherExpensesNewFundBasedOnEstimatesrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.falsefalsefalsexbrli:stringItemTypestringThis element represents the disclosure for new funds that "Other Expenses" are based on estimated amounts for the current fiscal year.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 6 -Subparagraph a false016false 3rr_ExpenseExampleHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>EXAMPLE: </b>falsefalsefalsexbrli:stringItemTypestringHeading for Expense Example.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false017false 3rr_ExpenseExampleNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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:falsefalsefalsenonnum:textBlockItemTypenaThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 1 false018false 3rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false019false 3rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00In seeking to track the performance of the Russell 2000<sup>&#174;</sup> Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.<br/><br/> 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).<br/><br/> The Index includes small cap U.S. equity securities, including BDCs, and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 2000<sup>&#174;</sup> Index, which measures the performance of the small cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 400 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or the "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 165 securities in the Index.falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false020false 3rr_RiskHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b>falsefalsefalsexbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 false021false 3rr_RiskNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.<blockquote><b>PASSIVE STRATEGY/INDEX RISK: </b>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's return to be lower than if the Fund employed an active strategy.</blockquote><blockquote><b> INDEX TRACKING RISK: </b>While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.</blockquote><blockquote><b> INDEX CONSTRUCTION RISK: </b>A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.</blockquote><blockquote><b> EQUITY INVESTING RISK: </b>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.</blockquote><blockquote><b> SMALL CAP RISK: </b>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.</blockquote><blockquote><b> LOW VOLATILITY RISK: </b>Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.</blockquote><blockquote><b>CONCENTRATION RISK: </b>The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.</blockquote><blockquote><b>TURNOVER RISK: </b>The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.</blockquote><blockquote><b> NON-DIVERSIFICATION RISK: </b>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.</blockquote>falsefalsefalsenonnum:textBlockItemTypenaNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph i -Clause instruction false022false 3rr_RiskLoseMoneyrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.falsefalsefalsexbrli:stringItemTypestringSummarize the principal risks of investing in the Fund, including the risks to which the Fund's portfolio as a whole is subject and the circumstances reasonably likely to affect adversely the Fund's net asset value, yield, and total return. Unless the Fund is a Money Market Fund, disclose that loss of money is a risk of investing in the Fund. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph i false023false 3rr_RiskNondiversifiedStatusrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<blockquote><b> NON-DIVERSIFICATION RISK: </b>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.</blockquote>falsefalsefalsexbrli:stringItemTypestringIf applicable, state that the Fund is non-diversified, describe the effect of non-diversification (e.g., disclose that, compared with other funds, the Fund may invest a greater percentage of its assets in a particular issuer), and summarize the risks of investing in a non-diversified fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph iv false024false 3rr_BarChartAndPerformanceTableHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FUND PERFORMANCE </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false025false 3rr_PerformanceNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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.falsefalsefalsenonnum:textBlockItemTypenaRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false026false 3rr_PerformanceOneYearOrLessrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history.falsefalsefalsexbrli:stringItemTypestringFor a Fund that provides annual total returns for only one calendar year or for a Fund that does not include the bar chart because it does not have annual returns for a full calendar year, modify, as appropriate, the narrative explanation required by stating that the information gives some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance). Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some 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 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 -Subparagraph i Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 -Subparagraph instructions -Clause 1 -Exhibit b false027false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse3false USDtruefalse$Duration_21Jun2012_20Jun2013S000039795_MemberC000123373_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 2000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039795Memberdei_LegalEntityAxisexplicitMemberfalsefalseSPDR Russell 2000 Low Volatility ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_C000123373Memberrr_ProspectusShareClassAxisexplicitMemberpureStandardhttp://www.xbrl.org/2003/instancepure0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$nanafalse028true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse029false 3rr_ManagementFeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.00250.0025falsefalsefalserr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph a false030false 3rr_DistributionAndService12b1FeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue00[1]falsefalsefalserr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 9 false031false 3rr_OtherExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue00[2]falsefalsefalserr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph c -Clause i false032false 3rr_AcquiredFundFeesAndExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.00130.0013[3]falsefalsefalserr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 11 false033false 3rr_ExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.00380.0038[2],[3]falsefalsefalserr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph d false034false 3rr_ExpenseExampleYear01rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truefalsetrue3939USD$falsetruefalserr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false235false 3rr_ExpenseExampleYear03rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truefalsetrue122122USD$falsetruefalserr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 2 false21The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.2"Other Expenses" are based on estimated amounts for the current fiscal year.3"Acquired Fund Fees and Expenses" are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. Acquired Fund Fees and Expenses are based on estimated amounts for the current fiscal year.falseRisk/Return Detail Data - SPDR Russell 2000 Low Volatility ETF (USD $)NoRoundingUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.spdrs.com/role/DisclosureRiskReturnDetailDataElementsSPDRRussell2000LowVolatilityETF135 XML 12 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
SPDR Russell 2000 Low Volatility ETF
SPDR Russell 2000® Low Volatility ETF
INVESTMENT OBJECTIVE
The SPDR Russell 2000 Low Volatility ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index.
FEES AND EXPENSES OF THE FUND
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). “Acquired Fund Fees and Expenses” reflect the Fund’s pro rata share of the fees and expenses incurred indirectly through its ownership in other investment companies, such as business development companies (“BDCs”). BDC expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by the Fund shareholders and are not used to calculate the Fund’s net asset value. They have no impact on the costs associated with fund operations. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund’s Shares.
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses
SPDR Russell 2000 Low Volatility ETF
MANAGEMENT FEES 0.25%
DISTRIBUTION AND SERVICE (12b-1) FEES [1] none
OTHER EXPENSES [2] none
ACQUIRED FUND FEES AND EXPENSES [3] 0.13%
TOTAL ANNUAL FUND OPERATING EXPENSES [2][3] 0.38%
[1] The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.
[2] "Other Expenses" are based on estimated amounts for the current fiscal year.
[3] "Acquired Fund Fees and Expenses" are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. Acquired Fund Fees and Expenses are based on estimated amounts for the current fiscal year.
EXAMPLE:
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:
Expense Example (USD $)
YEAR 1
YEAR 3
SPDR Russell 2000 Low Volatility ETF
39 122
PORTFOLIO TURNOVER:
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.
THE FUND’S PRINCIPAL INVESTMENT STRATEGY
In seeking to track the performance of the Russell 2000® Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.

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).

The Index includes small cap U.S. equity securities, including BDCs, and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 2000® Index, which measures the performance of the small cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 400 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or the "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 165 securities in the Index.
PRINCIPAL RISKS OF INVESTING IN THE FUND
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
PASSIVE STRATEGY/INDEX RISK: 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's return to be lower than if the Fund employed an active strategy.
INDEX TRACKING RISK: While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.
INDEX CONSTRUCTION RISK: A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.
EQUITY INVESTING RISK: 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.
SMALL CAP RISK: 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.
LOW VOLATILITY RISK: Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.
CONCENTRATION RISK: The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.
TURNOVER RISK: The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.
NON-DIVERSIFICATION RISK: 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.
FUND PERFORMANCE
The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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’s returns based on net assets and comparing the Fund’s performance to the Index.
XML 13 R2.xml IDEA: Risk/Return Summary - SPDR Russell 1000 Low Volatility ETF 2.4.0.8000011 - Document - Risk/Return Summary {Unlabeled} - SPDR Russell 1000 Low Volatility ETFfalsefalsetrue1false falsefalseDuration_21Jun2012_20Jun2013S000039794_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:001false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00SPDR Russell 1000 Low Volatility ETFfalsefalsefalse1false truefalseDuration_21Jun2012_20Jun2013S000039794_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:00falsefalsespdrst_S000039794Memberdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039794Memberdei_LegalEntityAxisexplicitMembernanafalse02false 3rr_RiskReturnHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00FUND SUMMARIES<br/><br/><b>SPDR Russell 1000<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Low Volatility ETF </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 false03false 3rr_ObjectiveHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>INVESTMENT OBJECTIVE</b>falsefalsefalsexbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false04false 3rr_ObjectivePrimaryTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The SPDR Russell 1000 Low Volatility ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a large cap, low volatility index.falsefalsefalsenonnum:textBlockItemTypenaInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false05false 3rr_ExpenseHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FEES AND EXPENSES OF THE FUND </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. 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 __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph d false06false 3rr_ExpenseNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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.falsefalsefalsenonnum:textBlockItemTypenaThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown. The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph b false07false 3rr_OperatingExpensesCaptionrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):falsefalsefalsexbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 7 false08false 3rr_AnnualFundOperatingExpensesTableTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell1000LowVolatilityETF column period compact * ~</div> falsefalse<div style="display:none">~ http://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell1000LowVolatilityETF column period compact * ~</div> falsehttp://www.spdrs.com/role/ScheduleAnnualFundOperatingExpensesSPDRRussell1000LowVolatilityETF000013 - Schedule - Annual Fund Operating Expenses {- SPDR Russell 1000 Low Volatility ETF}truefalsefalse1falseColumnperiodPeriod*Columndei_LegalEntityAxisAxis*Columnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 1000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039794Memberdei_LegalEntityAxisexplicitMemberfalsefalseSPDR Russell 1000 Low Volatility ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_C000123372Memberrr_ProspectusShareClassAxisexplicitMemberSPDR Russell 1000 Low Volatility ETFSPDR Russell 1000 Low Volatility ETFpureStandardhttp://www.xbrl.org/2003/instancepure0Standard0 USDfalsefalseduration2012-06-21T00:00:002013-06-20T00:00:00$1falseRowprimaryElement*3false 3rr_ManagementFeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph a false0 0rr_ManagementFeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.0020.002falsefalsefalserr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph a false02falseRowprimaryElement*4false 3rr_DistributionAndService12b1FeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 9 false0 0rr_DistributionAndService12b1FeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel[1]1truetruetrue00falsefalsefalserr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 9 false03falseRowprimaryElement*5false 3rr_OtherExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph c -Clause i false0 0rr_OtherExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel[2]1truetruetrue00falsefalsefalserr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph c -Clause i false04falseRowprimaryElement*6false 3rr_ExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalsetotalLabelrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph d true0 0rr_ExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truetruetrue0.0020.002falsefalsefalserr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph d true01The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.2"Other Expenses" are based on estimated amounts for the current fiscal year.falseAnnual Fund Operating Expenses UnKnownUnKnownUnKnownUnKnownfalsefalsefalseSheet14031408ColumnperiodPeriod*Columndei_LegalEntityAxisAxis*Columnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsenonnum:textBlockItemTypenaContains a command for the SEC Viewer for the role corresponding to OperatingExpensesData.No definition available.false09false 3rr_ExpenseExampleHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>EXAMPLE: </b>falsefalsefalsexbrli:stringItemTypestringHeading for Expense Example.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false010false 3rr_ExpenseExampleNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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:falsefalsefalsenonnum:textBlockItemTypenaThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 1 false011false 3rr_ExpenseExampleWithRedemptionTableTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell1000LowVolatilityETF column period compact * ~</div> falsefalse<div style="display:none">~ http://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell1000LowVolatilityETF column period compact * ~</div> truehttp://www.spdrs.com/role/ScheduleExpenseExampleTransposedSPDRRussell1000LowVolatilityETF000014 - Schedule - Expense Example {Transposed} {- SPDR Russell 1000 Low Volatility ETF}truefalsefalse1falseColumnprimaryElement*3false 3rr_ExpenseExampleYear01rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false2 USDfalsefalse$2falseColumnprimaryElement*4false 3rr_ExpenseExampleYear03rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabelrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 2 false2 USDfalsefalse$1falseRowperiodPeriod*Rowdei_LegalEntityAxisAxis*Rowrr_ProspectusShareClassAxisAxis*RowunitUnit*duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 1000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039794Memberdei_LegalEntityAxisexplicitMemberfalsefalseSPDR Russell 1000 Low Volatility ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_C000123372Memberrr_ProspectusShareClassAxisexplicitMemberSPDR Russell 1000 Low Volatility ETFSPDR Russell 1000 Low Volatility ETFUSDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170 0truefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue2020falsefalsefalse2truefalsetrue6464falsefalsefalsenanafalse0falseExpense Example (USD $)UnKnownUnKnownUnKnownUnKnownfalsefalsefalseSheet211021010ColumnprimaryElement*RowperiodPeriod*Rowdei_LegalEntityAxisAxis*Rowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsenonnum:textBlockItemTypenaContains a command for the SEC Viewer for the role corresponding to ExpenseExample.No definition available.false012false 3rr_PortfolioTurnoverHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PORTFOLIO TURNOVER: </b>falsefalsefalsexbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 5 false013false 3rr_PortfolioTurnoverTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The 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.falsefalsefalsenonnum:textBlockItemTypenaDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 3 false014false 3rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false015false 3rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00In seeking to track the performance of the Russell 1000<b><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></b> Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective. <br/><br/>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).<br/><br/> The Index includes large cap U.S. equity securities and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 1000<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Index, which measures the performance of the large cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 200 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 96 securities in the Index.falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false016false 3rr_RiskHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b>falsefalsefalsexbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 false017false 3rr_RiskNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. <blockquote><b>PASSIVE STRATEGY/INDEX RISK:</b> 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's return to be lower than if the Fund employed an active strategy. <br/><br/><b>INDEX TRACKING RISK:</b> While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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. <br/><br/><b>INDEX CONSTRUCTION RISK:</b> A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market. <br/><br/><b>EQUITY INVESTING RISK:</b> 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. <br/><br/><b>LARGE CAP RISK:</b> Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies. <br/><br/><b>LOW VOLATILITY RISK:</b> Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels. <br/><br/><b>CONCENTRATION RISK:</b> The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors. <br/><br/><b>TURNOVER RISK:</b> The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance. <br/><br/><b>NON-DIVERSIFICATION RISK:</b> 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.</blockquote>falsefalsefalsenonnum:textBlockItemTypenaNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph i -Clause instruction false018false 3rr_BarChartAndPerformanceTableHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FUND PERFORMANCE </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false019false 3rr_PerformanceNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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.falsefalsefalsenonnum:textBlockItemTypenaRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false0falseRisk/Return Summary - SPDR Russell 1000 Low Volatility ETF (SPDR Russell 1000 Low Volatility ETF)UnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.spdrs.com/role/DocumentRiskReturnSummaryUnlabeledSPDRRussell1000LowVolatilityETF119 XML 14 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName SPDR SERIES TRUST
Prospectus Date rr_ProspectusDate Jun. 20, 2013
SPDR Russell 2000 Low Volatility ETF
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SPDR Russell 2000® Low Volatility ETF
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The SPDR Russell 2000 Low Volatility ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index.
Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES OF THE FUND
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). “Acquired Fund Fees and Expenses” reflect the Fund’s pro rata share of the fees and expenses incurred indirectly through its ownership in other investment companies, such as business development companies (“BDCs”). BDC expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by the Fund shareholders and are not used to calculate the Fund’s net asset value. They have no impact on the costs associated with fund operations. This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund’s Shares.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment):
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock 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.
Expense Exchange Traded Fund Commissions [Text] rr_ExpenseExchangeTradedFundCommissions This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund’s Shares.
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates “Other Expenses” are based on estimated amounts for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading EXAMPLE:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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:
Strategy [Heading] rr_StrategyHeading THE FUND’S PRINCIPAL INVESTMENT STRATEGY
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock In seeking to track the performance of the Russell 2000® Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.

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).

The Index includes small cap U.S. equity securities, including BDCs, and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 2000® Index, which measures the performance of the small cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 400 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or the "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 165 securities in the Index.
Risk [Heading] rr_RiskHeading PRINCIPAL RISKS OF INVESTING IN THE FUND
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
PASSIVE STRATEGY/INDEX RISK: 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's return to be lower than if the Fund employed an active strategy.
INDEX TRACKING RISK: While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.
INDEX CONSTRUCTION RISK: A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.
EQUITY INVESTING RISK: 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.
SMALL CAP RISK: 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.
LOW VOLATILITY RISK: Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.
CONCENTRATION RISK: The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.
TURNOVER RISK: The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.
NON-DIVERSIFICATION RISK: 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.
Risk Lose Money [Text] rr_RiskLoseMoney As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
NON-DIVERSIFICATION RISK: 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.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading FUND PERFORMANCE
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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’s returns based on net assets and comparing the Fund’s performance to the Index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history.
SPDR Russell 2000 Low Volatility ETF | SPDR Russell 2000 Low Volatility ETF
 
Risk/Return: rr_RiskReturnAbstract  
MANAGEMENT FEES rr_ManagementFeesOverAssets 0.25%
DISTRIBUTION AND SERVICE (12b-1) FEES rr_DistributionAndService12b1FeesOverAssets none [1]
OTHER EXPENSES rr_OtherExpensesOverAssets none [2]
ACQUIRED FUND FEES AND EXPENSES rr_AcquiredFundFeesAndExpensesOverAssets 0.13% [3]
TOTAL ANNUAL FUND OPERATING EXPENSES rr_ExpensesOverAssets 0.38% [2],[3]
YEAR 1 rr_ExpenseExampleYear01 $ 39
YEAR 3 rr_ExpenseExampleYear03 $ 122
[1] The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.
[2] "Other Expenses" are based on estimated amounts for the current fiscal year.
[3] "Acquired Fund Fees and Expenses" are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. Acquired Fund Fees and Expenses are based on estimated amounts for the current fiscal year.
XML 15 R10.xml IDEA: Risk/Return Detail Data 2.4.0.8040000 - Disclosure - Risk/Return Detail Data {Elements}truetruefalse1false falsefalseDuration_21Jun2012_20Jun2013http://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:001true 1rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2dei_EntityRegistrantNamedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SPDR SERIES TRUSTfalsefalsefalsexbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false03false 2rr_ProspectusDaterr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date of the prospectus.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Subsection a -Paragraph 3 false04false 2dei_DocumentCreationDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No definition available.false0falseRisk/Return Detail DataUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://xbrl.sec.gov/rr/role/RiskReturnDetailData14 XML 16 R5.xml IDEA: Risk/Return Detail Data - SPDR Russell 1000 Low Volatility ETF 2.4.0.8000019 - Disclosure - Risk/Return Detail Data {Elements} - SPDR Russell 1000 Low Volatility ETFtruetruefalse1false falsefalseDuration_21Jun2012_20Jun2013http://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:001true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 3dei_EntityRegistrantNamedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SPDR SERIES TRUSTfalsefalsefalsexbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false03false 3rr_ProspectusDaterr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date of the prospectus.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Subsection a -Paragraph 3 false04false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2false truefalseDuration_21Jun2012_20Jun2013S000039794_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 1000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039794Memberdei_LegalEntityAxisexplicitMembernanafalse05true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse06false 3rr_RiskReturnHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00FUND SUMMARIES<br/><br/><b>SPDR Russell 1000<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Low Volatility ETF </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 false07false 3rr_ObjectiveHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>INVESTMENT OBJECTIVE</b>falsefalsefalsexbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false08false 3rr_ObjectivePrimaryTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The SPDR Russell 1000 Low Volatility ETF (the &#8220;Fund&#8221;) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a large cap, low volatility index.falsefalsefalsenonnum:textBlockItemTypenaInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a false09false 3rr_ExpenseHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FEES AND EXPENSES OF THE FUND </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. 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 __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph d false010false 3rr_ExpenseNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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.falsefalsefalsenonnum:textBlockItemTypenaThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown. The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph b false011false 3rr_OperatingExpensesCaptionrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>ANNUAL FUND OPERATING EXPENSES </b>(expenses that you pay each year as a percentage of the value of your investment):falsefalsefalsexbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 7 false012false 3rr_PortfolioTurnoverHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PORTFOLIO TURNOVER: </b>falsefalsefalsexbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 5 false013false 3rr_PortfolioTurnoverTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The 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.falsefalsefalsenonnum:textBlockItemTypenaDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 3 false014false 3rr_ExpenseExchangeTradedFundCommissionsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund&#8217;s Shares.falsefalsefalsexbrli:stringItemTypestringModify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 1 -Subparagraph e -Clause i false015false 3rr_OtherExpensesNewFundBasedOnEstimatesrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&#8220;Other Expenses&#8221; are based on estimated amounts for the current fiscal year.falsefalsefalsexbrli:stringItemTypestringThis element represents the disclosure for new funds that "Other Expenses" are based on estimated amounts for the current fiscal year.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 6 -Subparagraph a false016false 3rr_ExpenseExampleHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>EXAMPLE: </b>falsefalsefalsexbrli:stringItemTypestringHeading for Expense Example.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false017false 3rr_ExpenseExampleNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00This 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:falsefalsefalsenonnum:textBlockItemTypenaThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 1 false018false 3rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>THE FUND&#8217;S PRINCIPAL INVESTMENT STRATEGY </b>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false019false 3rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00In seeking to track the performance of the Russell 1000<b><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup></b> Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective. <br/><br/>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).<br/><br/> The Index includes large cap U.S. equity securities and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 1000<sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">&#174;</sup> Index, which measures the performance of the large cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 200 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 96 securities in the Index.falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false020false 3rr_RiskHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>PRINCIPAL RISKS OF INVESTING IN THE FUND </b>falsefalsefalsexbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 false021false 3rr_RiskNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund. <blockquote><b>PASSIVE STRATEGY/INDEX RISK:</b> 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's return to be lower than if the Fund employed an active strategy. <br/><br/><b>INDEX TRACKING RISK:</b> While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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. <br/><br/><b>INDEX CONSTRUCTION RISK:</b> A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market. <br/><br/><b>EQUITY INVESTING RISK:</b> 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. <br/><br/><b>LARGE CAP RISK:</b> Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies. <br/><br/><b>LOW VOLATILITY RISK:</b> Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels. <br/><br/><b>CONCENTRATION RISK:</b> The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors. <br/><br/><b>TURNOVER RISK:</b> The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance. <br/><br/><b>NON-DIVERSIFICATION RISK:</b> 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.</blockquote>falsefalsefalsenonnum:textBlockItemTypenaNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph i -Clause instruction false022false 3rr_RiskLoseMoneyrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.falsefalsefalsexbrli:stringItemTypestringSummarize the principal risks of investing in the Fund, including the risks to which the Fund's portfolio as a whole is subject and the circumstances reasonably likely to affect adversely the Fund's net asset value, yield, and total return. Unless the Fund is a Money Market Fund, disclose that loss of money is a risk of investing in the Fund. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph i false023false 3rr_RiskNondiversifiedStatusrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<blockquote><b>NON-DIVERSIFICATION RISK:</b> 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.</blockquote>falsefalsefalsexbrli:stringItemTypestringIf applicable, state that the Fund is non-diversified, describe the effect of non-diversification (e.g., disclose that, compared with other funds, the Fund may invest a greater percentage of its assets in a particular issuer), and summarize the risks of investing in a non-diversified fund.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 1 -Subparagraph iv false024false 3rr_BarChartAndPerformanceTableHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<b>FUND PERFORMANCE </b>falsefalsefalsexbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false025false 3rr_PerformanceNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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.falsefalsefalsenonnum:textBlockItemTypenaRisk/Return Bar Chart and Table.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 false026false 3rr_PerformanceOneYearOrLessrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history.falsefalsefalsexbrli:stringItemTypestringFor a Fund that provides annual total returns for only one calendar year or for a Fund that does not include the bar chart because it does not have annual returns for a full calendar year, modify, as appropriate, the narrative explanation required by stating that the information gives some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance). Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some 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 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 -Subparagraph i Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection b -Paragraph 2 -Subparagraph instructions -Clause 1 -Exhibit b false027false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse3false USDtruefalse$Duration_21Jun2012_20Jun2013S000039794_MemberC000123372_Memberhttp://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:00falsefalseSPDR Russell 1000 Low Volatility ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_S000039794Memberdei_LegalEntityAxisexplicitMemberfalsefalseSPDR Russell 1000 Low Volatility ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldispdrst_C000123372Memberrr_ProspectusShareClassAxisexplicitMemberpureStandardhttp://www.xbrl.org/2003/instancepure0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$nanafalse028true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse029false 3rr_ManagementFeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.0020.002falsefalsefalserr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph a false030false 3rr_DistributionAndService12b1FeesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue00[1]falsefalsefalserr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection table -Paragraph 1 -Subparagraph 9 false031false 3rr_OtherExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue00[2]falsefalsefalserr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph c -Clause i false032false 3rr_ExpensesOverAssetsrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truetruetrue0.0020.002falsefalsefalserr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 3 -Subparagraph d false033false 3rr_ExpenseExampleYear01rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truefalsetrue2020USD$falsetruefalserr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection instructions -Paragraph 4 false234false 3rr_ExpenseExampleYear03rr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truefalsetrue6464USD$falsetruefalserr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Subsection example -Paragraph 1 -Subparagraph 2 false21The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.2"Other Expenses" are based on estimated amounts for the current fiscal year.falseRisk/Return Detail Data - SPDR Russell 1000 Low Volatility ETF (USD $)NoRoundingUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.spdrs.com/role/DisclosureRiskReturnDetailDataElementsSPDRRussell1000LowVolatilityETF134 ZIP 17 0001193125-13-288056-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-13-288056-xbrl.zip M4$L#!!0````(`!IXZT+`;0MXZQ<``%^1```3`!P`,`WU%U>`L``00E#@``!#D!``#M76U7&T>R_IYS\A]Z MM3>)?0]("`R.,6:/#")1`H@K"P90/NQOOU75W3,]T@@$ M"(QM=L]ZI7GIKJ[7IZJ[Q,Y_KD8ANQ!2!7'TKE*OKE68B+S8#Z*S=Y54K7+E M!4'E/[O??[?SK]75C^\[A\R/O70DHH1Y4O!$^*P_89T.VX^C2(2AF+#6$3N1 ML2>4BB5[75V#_VZQ5,&0["#]*TA4REI1`G,F_$RPCW_PR%]=Q1FN^C)D0%"D MMM78A_OO*L,D&6_7:I>7EU6Z5/7B46U]K;ZQMK4.M.J'KU10>/)RHQK+,WAL MK5[[>'38]89BQ%>#"":,/&'?\D7^%LY<5<*KGL47-;B!4ZROKM57-^KV<2G+ MGY:RY.$PB,X+)-$KAJB-&M[NIG%^"2%L^VN!J'@1S9#M?E7YOIU8ZW*WFDW(;S$^-A9>DJCOD M4NR%7*G"O#GS%IMWIU9<^4ZMP.2=L9!![#M\2KA,]L$[[&K;V%I=K\,8V=7L M01'Y]K$->FP-A_:=AW9JSN`[-:,O]U2>;T%7OG"9/;B(OC!^9.+?_!IT>/.; MT.$9F65^=^,;$N+2@];&%ZT\:11HS1FG4F3R'PFNX/LN7MRIV6_Z=7QCZMW3 M[O[,JP:C;<.]^2,`HX]X!,`;&7,@A&H#^F\H)1+%?.$%(QX"P(SAM/30'K)D!&L@:Y>0TI&ZWZ@$AGT4YR]$?E=(2\"3]37^_4IVI$IK42, M/JU7'F\=M(9%2(Q-(9Y]#SI^!R;OXX(&X2$J\]:J$1$U$1N%)+)-!'`9Q M+Y51#!Q=)M-.VIW>0?NPU6:]T\YQ^T.S,\._>?-K`M%7:C?9$6>H##Q*COE( M+$Q=9;=[LM]AW6:GU>RR7N>TV]NIS1MU>LX],![)PU;DBZO?(?M>?%(W;LP= M+Y]NW^3]>YCVPZ#H[FXQF^LLYPTW.UES,("0$%R()8I9T, M,0Q-CS`[[@E%@Z:.$4M81F&\?+H&W//)FX9\<>.H[`[`T(6>H3!$;H!9;+[' M`F;&R89O]__24CF1X'3DI`>#OP]C[_P^!MX;"D9VU4G!_X8AJ\,C[#"^9!_B M$`8*0=E9LW?`7H`4V8_@=][^^^?U];6W!VGD9U_K;U\R)<2Y8DG,QC*^`(3% M@NA"J(2*8%*H-(3XDPQYLL+Z8A!+P0;@^!F/?":T5U,KL!`)CXYCN'@F(@$6 M%DYP2)P[B1,>PD@)>!<&P`'&&&%YAL4#QEG(Y1FPG(]76`C$7^3$!VBC56+L M7`Y.>_EE>LZ#)KBKQO$^:WX\:1YWX4O[@/5^;;*#4[A8'H/F!)]C+I&&"[$D MT0<@$=X/!<0QY4%T%HHX/2,8DAN;Q"D;\0D;P_^"`7WMIQ-ZK/(`3)L;Z,ST$K4-+Q M:!0HA,6J0%@,NI%*;\B568/B89$H2T']]5O%-%%5E_>S3)Z#`1Y`&G;Q\#&` MD4!S?53_H0C'M$I8]1@(IK5XL4IP7=K,4%N#*.?\99`,YS\6HTMFHS1)P:0& M\+Q"6>3,AZ0"/*@C=_TV^Y_ZV@KZ!W)U5EIWKZ,4[">OM@N@7@+*R-AP?KC`5(3JLJ( MF`](EQ:Q2/'`W$$-`/$I$`:\K]FYPE0*0@=%<%S$"KM$#82T$#R6\0N@C0K^ M]5(9)`$(_`7(S7%7J#^@&$"UX[)@!,7&=EG@P!I6Z-E%EIC%,HD@`%7#&H-] M=H9F(@B?U'$2SUFQ-!GP`.`4?G^3XD':AGA>G44)&HX1EQ^4P M0'[`&XXG%?K5*+(.H,P$8FD-W5@@&#,APW(C[O!`PT=:WC7^#37)3@T)'1]I[+/5".!)+KDUP0/52,I:(9).>DV3EH M=XX:QWO-:=)N)B-W#_G]98=2XR$P'*#23T1"H3,4J/@<%!ZBD`?`(/(A-%!\ MR"(DQ1%C#.BH3?B2&K/ZL=!##OD%8I9)`8E""$]B.:FR-GY+7#)NGCZ?$\P, M0@>$!V2D)H#L^S*`]_H(K+TP)6B``8VN6LRMXI&P_@;=B\$]$A1&S0<+_0F` MM_@2+^.U"RX#WM?H>1YPT@%6Y2$N`AYS765"BC52L2->YRLLOF_E./U:S2A8 M8X?(6(*"DUYW3X^.&EA>('67-=3JZ8_X829APCLJ'3.53$+QKG+2[K9ZK?;Q M-K`I).K?LO?M7J]]M,W6JC^+J[?L0[/3:^TU#E<;AZU?X$'D8QA$HD(3$:OJ MKU_1E#48&:^6964ECJ'`DMGD<9G.P'&E[?>_-?=ZK0_-*8JFY\T)LO'&0`BU MQ\=XJ4'5*[J0$.-`8P1OB\7&(BU2&BQ;DC`0`JR+,QU1*XYZ_ MTT#J=,HFB#89(8R?`T$IQH"Q0)@:).6^"?Y/):#&#E&4=F;#`?3L@PN0,AX7WG74KEG'*(R4C(J9.O-^44_42;^&DP$,UE37J")-Y="5S/J?E(%C&$]8Y65AYM3H$F"\H+AAC"O/"<4 M`['=@(1LT3D_]/"*]#!!6=-5^$PB%!SR^)_7?E@A.("\(^:8T&TSWGR! M&,A!HVPD=[0IUY@,?6!V@IP2TJAM-N/6&O,Q7P-;#,`+P9`Q2179.>*HM)A- M@\#.A"8"[!:H=!DV!MOP)FB%H!::"U.6:*H4\#Y:>U(0%'D%FP5E"*HH?H^K MH48O^`''N$"4EE`J-(HC,;%RP+-ADHK,3L()CB-S!6=2D-*;W,Y]E^HM[$5N M125WM=X3,D/ZC(&\K)9K"HG#^A9:F1=HP^J#%F MKF!6,>Z+XK5B-;7J^NL`G;'90M556#/\!#3=!9'(9:=ZZZ!&5$"-F@,/K`A0 M->@%IM5E15R<$`Q`@:H93ZY1N"ZW6#?H3IQY`,P^T=L;)FL91^CJ4L-FK3O@ MWT@K_;]24"2'@(PEE'%GKAHL(2::0!M,7FQT*7?WM#>N\HK2,'1TK%/&M=@UBCY@^7\N<(8AJR'U& M012,@G],?2)[+XJCU00)3FQX&02CM9U="@RX MA$MN`%'XVCCMAX$:TBWB&PTHQ1F7O@U8AO,98'>"6(,F^8U'*0;LC?H*0UR] MHM-](`7^X6/@X%6`$0JTX?16EJT8@CTAR:*N+TOHK0.][8$5\A`W!G2L)+5QL8'SFH%3N(R_TS@1A/]YDN=IL M(S9.$S,Q%I1$Y`W1&,R&*&H_-P7G*1A%6-=Z0UI@KO2N!1E+(ZQMKL-SDMR4 M1-?SEZXT7^?5-%[`YY&U$L!A"@$(:80`+.F&L6!X-D%L<&3\L=:63+]0!0I) MG$O:#'JVJ<<4:5@Y`X>%1?$"!$;U\SA$+1?+&[P!C`88H2$(Q9?`V0#522M6 M_:SX,FV9!_N=Z@JJ)BCJWN]8O9C6T3\H+CKH,!?\M9F_<9^P+#0H3`]P2P.4 M&DN,+X*JJ*YDF0NG?0CPW@AG<0#:H`^UG\T`#8WHI.HY;U";$&^#_P0512'? M:F`S2H%P/Z7`/[M=L5*V%T1`?@#"@<^@$J!;6*"UU8`^UC<(&G>P@V9S2K`3J*0:`T2\ID M*JZ&03_0F-=@"A!`8&U?)X1S0`?Q0?LM>.&2*P,>R5"T[P$)@71,O<-H55:S MF*;A]BG`C7QJ_M]IJ_>GLQ\SPZ5Y`0@OQR%6`W1\4P!1?#&&30<\!%5Z M#VXPFZ?EZ:5-$,,4]YY-$4"GS.3]$/=)S'\E:20!)"Q<@M,!+`ANV==.DF0+ M";B'RGT#%PX;G5^:;*]Q,K/\CDGEXFC&"^,$Y'9U*D%Y`^T'1+DW154)'2._ M?B`U`LD)O8L_"OQ5K#CY^9@W+Z/]!_O0/FST6H'-7`:G MLM<\1F15YE5ZP]E*#7&0E$KH*`VO!5"T>:?Q`*7N< M(0:;,F*B"_.8BA(A*'VFA+(B^I17L7YR)@-YY%EKGT[Q>738,]LS+X"3,QE# M^JZA@YG?:@_@9Y1`H1P-,Z58U@LGJ!Y9EFIG4*:\4`Z$2N:B^D-ALMP'425P M$0Y/<=C' MKN!&);?'GZ_7;^+`_*,AY`*X=OJD'U/0C;LU!-!#G1;;9,$>.]$G3("+)3-H M05B'D!\\,>FF/71BCX[XSO'\S(#TP21(W7%;0=M0N21N9-IQ^WAU'_*N3K=U MT-J[P3_0CDVT6I#1M-N@R"*G-N:**EU,6H#9XA*&5JG0_@+5,SJCLW9XS7IE MGNBGW=D'A*M*\Z5RC01N`N>-L>G2@3:8O*([!1#J=5%!SJ)#-9EN] M#[LY7E)C*&Q\K^?URR>[:5VRAGMM6B_O"/;F_"/8ZU_F$6P":9__"':)R)_8 M$>S-IW0$V[G=\,P>.;UX8$FP9QC<R2(+_$)"2.OCR^!/U3PV"<'UEV%#I#_WF&E.?:"%CC[^]-,0*N MY*01EG?S-I'?&_.`W#BF;7D9PC/5<3J6V<_35D*9DVSG42_41&`[4B:LP@8J M\LJ^1ALFB--YB+@P$>6>PES*,HHMDX?[0X7!I`V_(4IK*^OWZ$/?VE9XG/; MTW/;TUQP^D3;GDHH?>IM3V45A"?;]E3B(9[;GK[FMJ=EMHYLWJ=UY$[UW^<> MC^<>#_S^K?5XS#FX_]SC\=SCCVS'94Z/AVO&6/!>>6[Z^-Q-'XL%S5LU M;.1:\)4V;+QZ;MA88L-&#KV^C::-^M;F\KHV=/3J@;[H8O2>L\>UG)_B>C*; M;-YCS8242+*M#M2.J8;?E(:947_(O[TS740HK6WR7]O5C M_SSR3;NTRVK3VWPZWN>.77K,*;VZ+N&Y3>^Y3>]!VO1*'.PUJLO*NO9H<7B8=_FY[.AB M<6FZWZZ\\T870;'%)C@7H1$9`?'5K''/X^,@X6'P#S?F;D>T=3T'Z(;`8(I+ MU,22,/R5DZPKB4+#((C`10948U0QI+MX/\;"Q9A._D0&UI\#%C$N'CW#(JV+ MIJAVKZY%DX3D;8JW%$M9UV)!59_;%A=I6[P=UTN:&$LAYW,7XW,7X]/M8KR= MSA=[&N>J^S?6U'A+;SVWAC4O8WTN8MVWR;&DA//X?YWKFJK-PQ3'-Y]PVX;/*'"W:-L&VPNLFWP['._[(V#)W1V=;&-@P:='$="9UKQ MZ*SO4BKS*!C@OOU-4)1YR"?;H+KZ1S[_RTK_WKN,0U'#O^+NIZ&XAE!L-3?G M`?`PRF%\F9_NP2YS+P[3463S#$I>P9'^+_LO*0P0AC1\_]WWW^G.K$4Y,J># MXP]P91WA"]W#\K286*2TAV5*R$K!'I;*P<7Y\1AJ^.HSJ&']:U/#Y3)Q`35< M`@?OH(;+^X.C94TBLW]P=*KGXOJ_-QH&T?GV((X3IIMT+;Z+>?NX@!N!^/=>1W!Z#0;H9@+V"0U?I+=@*3(X97>/(=RPTZT0=P MK^LE@!/2,5Y?JZYO_D`H[$+G!#X/`!:LNQ4 MG*ER1+&N/6;SV0/V.`JSOV>!8T3XU]"32Q%>$/$O]:%%5>B"`2!2D'.I\!NR MJ'=<>E9T\/$&Z9DG:E@$6W6DJ&>0\>@VRFFHB.^D;+6[&M/&E*+KBY_"?CC/ M7!Z:8RX%]^))JH"2>*R+9!5]AA[\^;O*&A[>](5\5ZE7U^[!NU=3O)MS\F0I M?F?NV,MW,_.FVJT4*R.5^]5#/K]MWL#3@MHM*-M;:,]6F>5M?7;+VYIK>7-9 M<#=#NY,9+/3K%0]A%(M-O%NYX8>?*G-[:DRE(M^'50D8DZE'F3"<'6CW0K`A MK*T$7I(UCPS,QI7^Z0/WYY04[:!<3]F7;LPW*.^"BO/@,>-UF=6__NQ6__JQ MK/X6K-J<8M6"(OP\7+R58[J+9NIE35D:)F.[F'4BO?#A_P%02P,$%`````@` M&GCK0LO;U9[Y`@``[!(``!<`'`!S<&1R,`WU%U>`L``00E#@``!#D!``#-6%UOVC`4?9^T_^!ESR$?;)U: MP2JV%JD2+578UKY-QKD%;X[-;*>`IOWW74-"Q]9`*JV`>`B)C^\Y/L>QD[1. M9YD@]Z`-5[+M18W0(R"92KDL*:OAC0"P;!;>7O0$;0T;]%0$.@Y"6 M5@(2N"/N^#FY6"M@)JDV#::RP+4&KD":"^A(F5/1S67:GX"F%MTZGTU`&C"# MZ[,DR8U!=Z,P#'MJ^D4)1`ANY^>?NJC4"3ZQ\PFT/<.SB8#RVEC#'5YSE-:/ MPZ@9'L5A8V;2U_^#-UB.EE'!@9`])U^3`S(),(2T%N3'OR`YN'14B<-C$ M)V5E_+LL3EQULBI/ROKD)X*1@Q0DQ+$0I"$//`2)?BW#1@.$8FN#QG-JE5X/ MH1CS8F(:8(V1N@^TQHD4Q7ATX<1^&/G-:!&/UE^OP):2^GB'=E",-65-08<@ MVEX%)GA>95ME;=3TQW3IZ'5Y5+.R$O[]9ZZLW]0%(C!YEBVJ^=Q"5O:_TRJK M]*?@5(\K53H%C8MAZ%;#*?#1V.+9L[MZ226NAVYE[<(&;ZMA>W%XL[W58O=D M\ADW5O-AOO!&I@/0]YQ!%`^CC:;7[W:`(=077X02[S&4OA[PC`NJKY1\4BS; M.AYX,-OD%]$T=QQ-WXY!;UWO*U$':'JEUL+A-SMV^*/*)DKB"AG5\[H&?B^N M;U'OK*\A?4_;PDI9_,00JO$''T*U]#UM`RMES2>&4(T_^!"JI>]IP>^P'SG7 MD+J7([<'X0/#UB!J]CG`S:"F\B*+MSO.`A7=4(XZ^CH!G@US;1;/TI5!U.EP MF.]A=91O7I9:P5_?(=P7I=67(CSY#5!+`P04````"``:>.M"'WTN?==%``#= M_`8`%P`<`'-P9')S="TR,#$S,#8R,%]D968N>&UL550)``/C`-]1XP#?475X M"P`!!"4.```$.0$``.U]6U/D2)+N^S';_Y!3\[)KMA0HJ4O3-GW6**@ZC1T* M6*"GMVUM;4RD`M"44J(E)076UO]](Z0,I5**FQ*(\$"^#SO5I(?T>2C3.Y)7L19^M.;X.W.FPE)9UD4IS<_O5D46V$QB^,W__%__^7__.TO M6UO_]>G\>!)EL\6WOW[^__;[[-LMOMH.]O;WMZMB:T,-5GE1BTYV=W6W^S#?\ MH44L>B25#;;_Z^OQQ>R6S,.M."W*,)TUK7I(-"^AOT9ETZ`M_'Z[_I&*%O&/ M1?6ZXVP6EM47T+YA(I5@_[7%Q;;8G[:"Z=9N\/:AB-[0+IY,ZD[.LX2&7\Z,U;:JGO9UE\VWVZ[;9@[:?&?9Y7'P[)^4B M3R\6\WF8/_Z2)N$524AT<79X?KXH"CJ"@YV=G>/L^]^SA*)(**3/EU\&Z?2$ MMSR7PFP41XN$7-R&.;G-DHCD7P@IGD/+31_]W*KMI^DB3+XLTNCTCGD2ZG(^ M/]R1M'A>-9_RFN=6>?GBSP\A:W>9AVEQEQ7/,WB?_(Z75?8D.R<1F=\QOV!# M\0W?]S*#_#(KPZ3V*+I!]RG,#ZAAEAN,\8W>\NP*T[E(>"-`]#(?_3E>]W(D M=4C*,$Y>F*.&ON39U(V+69(5BYQTL1R&9?@Y(0SFL[CR9WJ3D\G(U,ID1/P6 M>Y.1C;7<]-%N)B-/5O,IKW$P&7FROAN_P_%DY)D5W_!]5B3D-3^RO>TU_.2A)&E$(JX!>\W3-T67;XA+]K"=ZO\F6Q/> MIOU/VGY2/V#2?D(%GL-/LMD:YH1M16>YL-.KKBO([.U-=K^=Y[3?@RG]7^9* MIUL[P7*O^:]Y_H^S/"ONR*Q<%)?AU>H35F[]IS=_^J*/-P5O:! MB636L:T^^'Z^CI*.)/[`Y:`R''5UF^L\FTLQ+-^3B7LOR^G*YZC]);D<74J,J&#B1WE MD,E12>;%CY-)GO_81XUV8F=$;HPM(G$-COZCBX[^Z1^\AR[I8SO`^C];QG1& M!V-&OWM$YTTJ MI2![W[5=C@CPP8MI9XE]UP?L/39:@G\'&WR'K):@WWL" M>HW$EM@_P,;>X;@EZ(^P08NY;XG]!S^P=RAQ"7X/+G@!9W(FVC%<(8MWC%;K MY$F9K61>?!?I"=?0>DOG(%A?.K-G;]?Z?5(*]8[)\R82]94)? M,UF]9\)>])IWHDSGF*T=!_ZG_8>X4,PVI2U>TK2$^_D=`Y/T==^XJ6U.`SJZ:U\< M_$!S0O9"]C)$1?)J0*8S\I6$["Q;8/<*.<`\I4#=7=HC.P&TEV<=F;8P"NE( M*6D#Y_YU2?++\($4I^DAVRB*KQ9LR!9?UY97*[C:!DY1[Z?119B0X>B[#=W- M";0#7.K!9%,"R%IHAY.EO=:75:8[NKJ;L#AI\X^$H&XY').;,*GWSR4+M9X$ MX*F:$.]`\\%)FILMA">/Q!>^%"'=(%C_>0-,HMO']=_^<<$^Z^[>Q[UWPCF* M5,KM)H7D4ZX?UUF>?\B/`62?F,&5=C!NI/C@[#]AWGN[N?IRJN+LOY7;EJOF\ M2QON]QV4;00#_-*>'[B=ZRX:!%T17`)_]1$E[]^,*J($;0U`5(HAMI])=;5/ M!:T1L8'L].J?]8TW*;"^A%5<9WG,!MTE-8Y/]-'?%`#[HE:17A#J6")#K")A M&VB7.1JD7[O[NT5,)V'.LH/<$T7_*42M3=E7&5L.0E$(C4+.`<:*&14]JA&W M8D'=M##2?I5+6CFEE2>RT?7R@*86+>Y+EI5I5E(,6HL3B5I$6M#U"\ES$K&D M*3N[J51?S+7#XZNNB*V4?XZ?$W$N:& M.#O"]M$.H#I%"U>]+'7/2F'[:'^-R]M6#BJ-BQ[2UL&(:673VF#T:%J[U6?0 MJ%(T=*O%L/&E:FE?CP$3`44+^[@/DHQE;3=&W9>W5UEL39)5W=9_=$ M3E-R22$J9G"V,>J\HEK*!C^>]W$^CUA74B@&E@]&DC>4[\"9#52-NL[=-X*ID M;6+5#@.KWYR_5#>[D\G9Q&CBFU2R-K'J?91>5TATGPT\N)3AOAI]<2GT*#3_!E.)X&GZB*?V!-?R$4\IS;"]2 M3@TXS>YEHP*ID.*0FRL`FW_UA]Y<#]B$;'8`SG6!3%A^8Z^$%QTN/Y+D6L-E=?E3/\<,F>-4!/M<`-K_W3O@Y;-ATKCKWYQK` M9O.URP$<,FRZEET;X.AA$[/L0@'?HX3-P^++!AP[;,XUN7K`-8'-NIK;"%P) MV*2KNJ/`-8!-N[U+#!PV;*Z576_@Z&%3KNK2`]<`-N7*+T-P_+#Y5^L\81.P MR9T)?MP&FXP55Q&X`K`9V>Q:!=?%&TZ67K+@FL`F9OVE"ZZ'<>HDGD>%I2YA M98(Q?1+62O"V5@*O=-VV*_O%$M"F,,.[Q0SO5JU)V\NF:<9->_=(ZO3PQ\:3IR@=&)N:+V2V)%@GI7+?/Y\U0D;G2_)0.5@]KCPXJNU&^) M_RJ/78PP80%$+("('/OZ.!8+'7I5Z'#LUO':CW2?RL58T!`H?G\+&H[=Y4`B MY,XWD-=YDPJ^I*&(2AAJ$$.N8RB!CG8&>41;07F0)8MY>A+.!7Y!(6HG5>M# M/%_,#Q;S15(%:%6[KG4VK--[DI]>7]-!G]ZB?*UC<:<66,`VBC'F[J1F]%VFIZ3 M.+TG14FBP_@^CB@OL0.9M0,:O6I/>**5P@]-=B/J=]F[5W_HJZ04MHY6@\]6 M8:$FU:"N]Q2BEI$JL5FUM_W9+%NDY;)+]NG,JA3L3RB%G:`UP.ABCB5Q14(A M=V'!9JL;Q930^<&"L1(#9X80LI\_DV+U((.0#GV00D/GB1"RI0]2T&S"""&? M^K.HM38,G::;V708#ITU0LC&;J:K)8N9D06Y7SLCFZ#`!/)C-G>8#(8IICQ+,4,6LR8M^$P^0PFGU'[ M,&A1:9A\YE4FGT$:`K[U@&EI<*(&92OA51[]8,(:3%B#O(R\C*ELUA8DGJ:R M0;L9VQ$U)KG!)#<;$+N-)#?HC""3>.^;R-.%*$1MI\#1HH:YPY/(F5ORB*5ZG*/=GOR_BG$2,$ZLHPS0RP6S8S$Y:&#U<5]AHU_P:QBRT M/3\G\?QJD1<5HZBPFK2Q@?V$E"9=*Q%S%S9K.N]63D6<;Z0/4$0^48&0C<54 M"_-I"X24+)MHI9O"0,C$8JJ7P;P&0@:6P>K()SL0,K`,5D<^`X*09,784VN4 M<)IBQ50)PQD3A.0KIBHI\+O-NV*J@,E4"T1"%E.%)).Q7C(6>'&I(]KWPS@@ M3!2"5H6Q"YA"Q+<4(B,RIU'>,,7D(F@?>*<+TXY`NV.\'.2?'\+Y74(N\S`M MJLS.&QC5NW6C6CYYLGSTY(_5P_\$:E+`PGXPXXAG&4?&84S.A^WH-ADPV$<_RC*"QC'2;#E.,8(H1M?N"%A.$*49>98H19""XVPR8702G9P"V M#5[EL0\F%L'$(LC&R,:84\3SG")H,B,Z>L9T(IA.9`,ZMY%.!/T04.I>_S#R ME`HR.=LY1-1X(2<0$2-'P_-LB-O`^.GQ-Q+FJJPA.GG[F!F"G4"'E$LYPK=K MA*\71VL-WWLC?+T`4EOX6`R;'I_;2#EVH]3A7:H?QYP&[RMB4"0:%%ZTPGA(C^(AQV%)HSP3QU!( M-`T\BL(H2+`7(DZRK/-KDQAQ.8*(2R0G M(),\#,;T*AASA'8SRC,IC-/$.$WD<'"^"":'8PCG*PCA1&L:ZY$Z1G=B=.<& MDP#[T9WHHGP@?/DW,XV0$[=Q&Q"JTL.?X%"1%FC#<&)(7\I:;&,?&F>J;NM6 M%[/X4U$+`+BU<:FB%@!P:^-512W16$&P/[ M=+5`QL8^72V0,;-/5LO'6-H13OOP:BN&V:*M`5ABC?/B'4;@HI'A10@,SD6K M@4Q-HSEDQ+A=&Q=DZL*]EUD9)N>D7.1IH;&M3V%^0+N@%-G8!V%1X.KAD^73 M)V:V-/EO_I[_>=7G8LZ7?*"NQKR"^-S1V)/SD3NZS0J,PQVOM<%D+XRW]2S> M%NUEO-M[&%>+<;5J#P;MPBK&U;[*N%HD(=!;#A@_BY,T&%L(K_)X".-D,4X6 M.1DY&>-A6TL13^-AT6K&=22-<:\8][H!J=N(>T57!)?`>1=4KY0'Z4G$;$>Q M*M%"#EP5`D>[LV%WSSG"7VC'O^K+NA,/PNJ2GV!W7R1D'9TB!E8F9QOC$;7! MJGL.PU(#LR-J&VFPMR>(L.Q+.,`EB!#N2SC`-=7BZAVF6,$EB$SN2SC`]4Z+ MJQ=+:`67("*Z+^$`UPX-/Z^EG"`2^/O:PD'N#3^OI9P@$OC[VL)![@T_KZ6<(!+X^]K"0>X-/Z^ MEG"`2^/O:PD'N#3^OI:PCTN40:4OX0"7UM\'3OQ]H/7W@1-_'VC]?>#$WP=: M?Q\X\?>!UM\'3OQ]H/7W@1-_'VC]?>#$WP=:?Q\X\?>!UM\'3OS]5.OOITXS M9)GLGPLW&IU?>]D$?#][E],T5T/Q=W8G(:2T&JI"O7\)(6O5!LB#?F(J3Y!/ M&^0]-@..?)6ZK<=WP)&_:Y#W&!$X\E5>N1YG`D?^845,7M%JO5W+H7M%JO6. M+H?N%9_6F[X$6F]=\6D]>XRA^X5E=8;T!RZ5UQ:[U%S MZ%Z1:;V-S:%[Q:;U3C=?)GG%IO5F.(?N%9O6^^4L6DKZ?#4 M,S8-6DF[/6/38,6F4\_8-%BQZ=0S-@U6;#KUC$V#%9M./6/38,6FNYZQ:;!B MTUW/V#18L>FN9VP:K-ATUS,VG:[8=-8JQ]M"I-V84Y^ MOW+RC\:81IE;GIGI18`LI!?4[FU#U;WH3R)NE+8=K$``^202P8H MX*.1.C/2ES(':VB/&3HCJ$M)1SA_(V$N3$LL%W6)5)3P4"[J$*DP):E M*A(`22/X)$6Z'@I"=L$G*23.4/G!=/_300S)J">V>!$7XX+1T``8VJN\.>A% M?"/DZ-]1FPQ>S+%O1,]P)P9RO##:$YYW^Y^OPJ^P8CY3/8^+;[49')(RC)-? MTNI[;61R/TS879GZN?2?[-';];,G]<,G?S2/_],P:O]5G^!NK#E*I9=*@86(8S6,O;5%-X>QMO#@Q:R>'L8C#(O M@X=XCLXY1GKABKA;,U8)\C'R,25F,D[(`B\U&FQGC)0_, MOH+95S8@])<,ST5'!)V\5U]&'F\HDK$==2O'"3G8MH\:+[.,U:1_*^HW,E$9Y M!.-%T!O`()V1V09N?+JAEE&5]#N,"[9S0KFQ:U6'81DN-TZ*#0QKCQE6\W"Q M:;%73/[@+X%I7L#NQF`8CB]A.*,U+.=#>'0;#AB1@V;G*9^-YZXGM&"2WA"#WE.(6D:JQ&;5WO9GLVR1ELLNV:=+WE*PSZP4=H+6`*.+.9;$ M%0F%K*Q([@B;':%-M%[&YLMIP9)(V<+9Y MC9VWD_R>SD:"Z56@PVW>TK8>I_E%/(^3,#_)TJ&:Z-K:T.4@H[/?E`Z(H'(# M?`BK5#!H8A7Y=#AR>1.KR'>'(Y(73?$Z1;D_^WT1T]7#ET4:,9NB'L,$ MLV$SB_M.2KBNL-&N^36,V:J$3EGC^=4B+RI&46$U:6,#^PDI3;I6(@:C=]G9 MP.GU)7BSS-*!KI;J]2.S/&2P##;1/ ML*@7'P67>1C5$+=DSP,2D'5IZM3HH!0#<6H\B:N$>M][3B%K8QSU@PT[1PC[N@R0KZ'3, M&'5?WLI-#;I>*LG-HW2FV1.PBE$3NE M+.+KF$0795@N!-L:WI=AV2JDZH- M>8QE#4_3:C_E-#\FA5J)CJ1EG/M15`65ATGMW(_2B#PH\4I:V,9]'\;)\BN? MW5)R4F/N2SO$^RNYNHA+UI&Y;G"HFEG6X"PLRL.L.G^AGSRF3R=?%M2XU#VO M:&73PVO=N57?S5]JXKA5LC:Q+C_B\O"P"O,ZSL)(,'SU+:R<<*?I(DQJ]R^= MA0F%K*-3S,ID+J M);^T@DNP;]^7<(#KG1;7.R>X!.<%?0D'N#YH<7UP@NNC%M=')[A^T.+ZP0FN M/2VN/?NXICL[&G]?2SC`I?'WM80#7!I_7TLXP*7Q][6$`UP:?U]+.,"E\?>U MA`-<&G]?2SC`I?'WM80#7!I_7TLXP*7Q][6$?5RB^P5]"0>XM/X^<.+O`ZV_ M#YSX^T#K[P,G_C[0^OO`B;\/M/X^<.+O`ZV_#YSX^T#K[P,G_C[0^OO`B;\/ MM/X^<.+OIUI_/[7D[_G.ILE]#96L3:SZ>QMR29LXSTE89.D%87O%)*HSL<""PO/\4R[NE>'E%^RO,)XDI55 M0CL2':6KI+DJ-8V:V]"(G61>9FSGMP9US,#VD4O$;/9Y%X)X8ULM[1*O.58[ M.'^.;VY)4?[G@B(@>?*H_/Y*8:OG@D(@ZK&@:N,>^U#<=C`?9]^-!X=*UF;_ M"G&HAX:BB7/D`U%;OU^@OG8%Y:Y5]7)VLFUP$&[8S(4&K:L[!U5F`\$LRJ2- M#>S5&T^R0Q(M9E6RTZQ*FLWC@:MR=WWT9JU<]/TO+**\]L5?6/X%NHX1I[0Q M;.="A^I>1T+NP[2\S&A?\OPP>BWD+5WH<9K6%95.KWGIQ(O;[+NZ2*JZH0LM M6FDQ.)IJH`@2@@QHZF1<#;O**FWC`GNSTJ^7G>)[JGR1MO':ULY;G?;?@&_O M:G>EBT._RZ)O865G[9[RQ@TQNQRGD'6%57553BWN"+%DC2.7=(13%N"M$'6) M5'04(A=UB%1X6"D7=83T(J[X8GEQTPAQMXDCY+J+J=H6-G"W@N(S<$ZPTG7#)]_7\3W84)GEN:@1
    5UZ#U%)![2=@S_M%2KL5M$&"%I0P7>+N7:`"A;M?X70)NW>_"B;L M?MW352%I'_!?"&JA+C7HW=@"I4&W6.H2=.\Z%T30HNW*)?[>M2]0^&6U59?@ M>W?#0(-OS90X+_66WZ`4&%ATE2L%FVT-ZZ]R96"S\(:E5[ERL*EZ4/U5KA)L M&CT'N[.`<'#IO*A15D.7381"VO+,OQPV9E9;E9K@)T-I:5H>7X M8;.L>3E:K@]LRAU2E)9K!)N/#6K4/C%]!YNO%95XN0*P>5I?F9?K`9NPS:KT'EZ[E^L%F\7-ZOAR76"3NEE-7ZX+;!8?5-B7JP2;V,V*_')=8%/\H$J_ M_.Z+%\2_28%?KJ`?$P-YP5^NAQ\3@P'U?KEB7LP2NJ6`.7@O)@CB^L!,76@HK'7`^?V%I4`9GK MX1-E*_9//_A$W_UL#%P+V$3>*Z+,(R%@<[BJM#+7`#:3ZXHM:@89.MO#@TQP^;9(65HSET MV,QJ5$::Q^W!9MNU6M,<,FQZ[5:CYJCAT^D**VP>-:ECS36!S:F:TM9<"=C4 MNF%5:ZX<;.Z55[OF^&'3L+[Z-=<#-AVK*V)S'6#SLF%Q;!Z4#IN9S0IEK@S`,<-KGVZXLWP&'3:[\`>0,< M-JOV*Y0WP/VAT;J$>0/<'Q*M:YPWP/WAS[H(>@/<']ZLJZ0WP/TASKJ,>@/< M'^:LZZPWB;K\8"H!G\NH7I&^`^\2<08LY@>?QZI>T;X#[ MQ)Q!BSF!9^_J`&\Q)_#<71W@+>8$GK2K`[S%G,!3=76`MY@3>(ZN#O`69>M34_&>U3J\(.R@BT3#2ALV MJL)FWY6JU54/7L'Q)"NK9,LD.DI7M2I:6L&FYFYM^F71NP8];'[FWZ2KQ=I9 M60`\-9=,B98"L#E;7,>^.Y)@TW=S64*H2V<\P29TM2HM-6#3^W'V73^H_*!W MH2KK8PIX=BZE)BTM8%.X[EYM`#PU5Q<_NV`DOUT4`$_.U=6F=7_SH$H*U9H; M`L_258$^R0Y)M)@Q2'1RR!*@\(PIE^$#:7\7V'3>_2Z_L'P\-9=\8:FLZ&)Q MW77!9O9>=7IV(R\A]V%:7F;TR_!\?2V%8/-[5Z'3E%0KD=/K_6OJE:E*%[?9 M][97ADWT77U:J<>X0M7PRUL:P>;]WI"37V4-@&?GZJK2;+;4*WYQE`1?&P_> M`@">R4O:&:+OZM=40KX#!3QYEZ"@>/>N<@`\A9=(!4$Y/.!9O`1:=%9KP--W M"13H9)@)@&?ODFG0.G`#GL-+HD'[/!]X)B^!!A=Q18_+>_PK38#G]1)H(@Y& M"(`G^1*4NE\O(=_H`9NSI7H(R`)X4B^9*NN1CP'PE%XR+5H*P.9L@0*BTO:- M-K`)_/(VSLM'N77#)N\.>I%-P^;N=06ZE@R;M=>QKV`#3]O5P%99[2IQU]^V M.RHGQR2ZW"1E,5D:ZO^6=!N37>Z;"1IE9.[_NN: M]M^_?W];W$5Y\7:6S;,A*<,XH3.+\'-2%<4I+LX.S\\7 M14&2)-C9V3G.OO\]8V6I67SYY\LO36?$)7L;E=@)]B9,#_YP^A_L^=OU"R;U M&R;L%9,_^$O^I$+L19/EFR;L51/ZKLGJ91/VMK5A0-?(:QU`_SLLL^83WN;D M>OWK%V3V]B:[WXY(O,VN2[)_;+%_;.T$6[O!VX'XOK.\%<2,@T$IJ*0>R:#&8A1:#E*28=&I.WE_B9]!_S2JG;1JGRQ MJN9J:%7*O#H>D]B55-*&9:W>*;.HOH1C2]+T+,\/W(/-*SX9VM#/5(=\MK@B MS(:6$I-_I3)D3$ILY7,O[V8>2UGH2OCNEC,YV'^^$M:?2(2M4QK:F9: MTX"9UO+!'<-:/GWR1_/\GE5-(5A5=8BI,J:E@.6UT(NMXI[7RF[YN-UJ[$UA M9VM]W5T>2?$/72]55CKY6NV,O"!=CG(_T_K,%QM?V`[(7LY6+]!XJG M%*B';E,@.^'.A)V=B9?!R6_6DN(TI:OJ,H^OJA3ZQ=>UHZ@57&T#IZCWTZB* M@!B,OMO0W9S@V3:%7OHRSK-HH1U.78?LI3+=T35PVPXG;0!)".J6PY//MD!- MU81XA^YZXR0-3UF?ZY35"%,U,DKVYMV=#].=ZKWUW_YQP3[K[M['O??".8I4 MRNTFQ29'O>XN`\L^,8,K[6#<2/'!Y\#D9,M'?J`86HE[X-D:,C4>2;_@D?13 MN?N`W3^8[NY^W%5Q=U_*[?BSK<1#/!+>W[@=JZ8U/>3!`E\Q`0NOWZ_ M`B:2>4FS"9.D9RGZ8.]N[RW-XSV5HR^*RA_9K2H2_?2FS!=D]<FX7EZG MHM9&;M@_#&WJ*+TE>5RRG;/)=99/5E/D'R>3//^QCQIMS8:M/<^H?FEL36HF M.;1&Q`:RTZM_4@.*[XD46%_"*JZS/&:#KI7`00JP+VH5Z06ACB4RQ"H2MH%V MF;I)^K6[OUO$),HF(X$G$K4V9;_-$LHR+`]6$XHIG+@+Y!Q@K)A1T:,:<2L6 M1">I]&NF-SROF+1?Y9)63FFKC`&LMGP/AZZ7!S2U:'&B/#\2BQ.)6D1:\&QF M+%OCC0E@10N;N,]9PK_3Z\\/LRKU7V5B>NSJ5A;Q?WX(YW>)EBZZ8O81?GID M^50,<7:$[:,=0'6*%JYZ6>J>E<+VT?X:E[?G)"+S"H'.10]IZV#$9"LT&XP> M36NW^@P:58J&;K48-KY4+>WK,6`BH&AA'W<_NY\:=5_>RH%9EI?761)GEW1U MG]T3.4W))9W@5/2K2M;**J>D3HSTY]D*3 M7I/)V<)HXBEE M"7;_Z+@;DP$;O^@XN7M7%:0&W?/FU0T>^*`5Y4]@)Q26'4\OPPD?=E;A`:?9G+U@YQM6'')S!6#SK_[0NZD<[84>Z@/PIDRF#[IT MS\:;6E\>@>\D+K!@3O7QPN.5QS`Y2P>5A\V8!CA\VY M)EN`:P*9< M^64(CA\V_VJ=)VP"'E#X_AUL,E9<1>`*P&9DLVL57!=O.%EZR8)K`IN8]9$Z09-\VMA<:$F7B?-1.O%_5.(59F M')MU8/9+-_0RJH*,%[-;$BT2TKENN8$I39EU+)_&_KEZX(0]QQX<57:S?.1^CH-@VPP.+KMRJ8;(2%%#TII#A2NQCE=MK+X,2" MB5@P$62-02R8B),P$&0#=4L`"R/BI,ON$O]5'KL88<("B%@`$3GV]7$L%CKT MJM#AV*WCM1_I/I6+L:`A4/S^%C0<C[30])W%Z3XJ21(?Q?1Q17F(',FL'-'K5 MGO!$*X4?FNQ&U.^R=Z_^T%=)*6P=K0:?K<)"3:I!7>\I1"TC56*S:F_[LUFV M2,MEE^S3F54IV)]0"CM!:X#1Q1Q+XHJ$0N["@LU6-XHIH?.#!6,E!LX,(60_ M?R;%ZD$&(1WZ((6&SA,A9$L?I*#9A!%"/O5G46MM&#I--[/I,!PZ:X20C=U, M5^5T$D)"]@W4@)&*W0RX8D(*(O_Z8"V`I%T?9.GB22V(M.L;Z@$DT?HFL\QU M%QH`3#KS:O>[,4X,D\N@[;S`#L$XHUXPB0P:S=/<]JN\M8S)8M`*\`8A`+H8 M95(810&X#2QI=]V2ZH=/V-,GS>,G_/E`[0I8;!BFB_$L71E3V:PM2#Q-98-V,[8C:DQR@TEN-B!V&TENT!E! M)O'>-Y&G"U&(VDZ!HT4-.0F.%#Q:HAU+?(DQ;PFI*DV.4MA.('P:WE0FPRXK MJF/V99(V<+8WLMD^-LGOXQD)IE>!#K=Y2]MZG.87\3Q.POPD2X=JHFMK0Y># M;'Z7I71`!%68%1_"*A4,FEA%/AV.7-[$*O+=XK9R*.-]('Z"(?*("(1N+J1;FTQ8(*5DVT4HWA8&0B<54+X-Y M#80,+(/5D4]V(&1@&:R.?`8$(T[X=Q0)@H!*T*8Q#G(/S^$\[N$7.9A6E29G3Y1E!8QGI-AVF&,$4 M(VKW!2TF"%.,O,H4(\A`<+<9,+L(3L\`;!N\RF,?3"R"B460C9&-,:>(YSE% MT&1&=/2,Z40PG<@&=&XCG0CZ(:#4O?YAY"D59'*V!2%49!@+T2<9.Y(.U`;NYB`&27@=(CM#.G(_HT>U%8.PD6J$?;(=AE5Z' M5:(=X48@1EQBQ.7`/5CGUR8QXG($$9=(3D`F>1B,Z54PY@CM9I1G4ABGB7&: MR.'@?!%,#L<0SE<0PHG6--8C=8SNQ.C.#28!]J,[T47Y0/CR;V8:(2=NXS8@ M5*6'/\&A(BW0AN'$D+Z4M=C&/C3.5-W6K2YF\:>B%@!P:^-212T`X-;&JXI: MN,>MCV,5M8`2S6?`<4/,UOD&V?,J"#<&]NEJ@8R-?;I:(&-FGZR6C[&T(YSV MX=56#+-%6P.PQ!KGQ3N,P$4CPXL0&)R+5@.9FD9SR(AQNS8NR-2%>R^S,DS. M2;G(TT)C6Y_"_(!V02FRL0_"HL#5PR?+IT_,;&GRW_P]__.JS\6<+_E`78UY M!?&YH[$GYR-W=)L5&(<[7FN#R5X8;^M9O"W:RWBW]S"N%N-JU1X,VH55C*M] ME7&U2$*@MQPP?A8G:3"V$%[E\1#&R6*<+'(R M,>YU`U*W$?>*K@@N@?,NJ%XI#]*3B-F.8E6BA1RX*@2.=F?#[IYSA+_0CG_5 MEW4G'H35)3_![KY(R#HZ10RL3,XVQB-J@U7W'(:E!F9'U#;28&]/$&'9EW"` M2Q`AW)=P@&NJQ=4[3+&"2Q"9W)=P@.N=%E8T3@ MR%=YY7J<"1SYAQ4Q>46K]78MA^X5J=8[NARZ5WQ:;_IRZ%[Q:+TOS*%[1:3U MUC&'[A63UKO+'+I75%IO0'/H7G%IO4?-H7M%IO4V-H?N%9O6.]U\F>05F]:; MX1RZ5VQ:[Y=SZ%ZQ:;VESJ%[QJ:MI,-3S]@T:"7M]HQ-@Q6;3CUCTV#%IE// MV#18L>G4,S8-5FPZ]8Q-@Q6;[GK&IL&*37<]8]-@Q::[GK%IL&+37<_8=+IB MTUWC:#C[R5M'T]]AKGZT*4S:A3GY_E+,`E@4/$^_[EGA_U$;F?#B/;CL"L_&C M";X"GAM/ME?C30GD+3B\]2IW*3`%+*:`1?:&Y8A@LC?FA57GA86:P1U-"?=6 M,5DL)HM%^G]=/@L4_8^YOA[4A/!H1'A_QT)"#"RZAT7W(-:IPZ)[NNF=E5H` MR$)^3>76/EC=A_(DZDIAV\4"#)!#+AF@@(]&ZLQ(7\H'\ MC82Y,"VQ7-0E4E'"0[FH0Z3"E*1R44=(+V+J%IL$:$:(NTT<(=>5G]"VB@(V06?I)`X0^4' MT_U/!S$DHY[8XD5^$3W#G1C(\<)H M3WC>[7^^"K_"BOE,]3PNOM5F<$C*,$Y^2:OOM9')_3!A=V7JY])_LD=OU\^> MU`^?_-$\_D_#J/U7?9[G?)T'ZL*6Q_'#([,FY^-V=/L3&"@\5EN#R5QXJ5AV MJ1A8A#!:R]A74WA[&&\/#UK(XNUA,,J\R.UAG+"-<,*&*5R`AGN/S#I&>>** MN5HP5POR,?(Q)F4Q3LH"+#8;;6:,ESPP^PIF7]F`T%\R/!<=$73R7GT9>;RA M2,9VU*T<)^1@VSYJM#1?QO1+8ZN[L!JLE_1K?Z+/_Z;"*99W%^*CM4@==+CA M!B,S)KP@@P$\:%%XL(_7I'THZSF&6D95TN\P M+MC.">7&KE4=AF6XW#@I-C"L/698S,?F#OP2F>0&[&X-A.+Z$X8S6 ML)P/X=%M.&!$#IJ=IWPVGKN>T()Q1FLHH]QSP&N?>.T36=J]\X')TAA"*PNA MA1:A@8:#AVX838O1M!A-B]&T.(T#RD8PIW$8R`,MD`?-9]Q'VQC3@S$]&]#\ MB\;TH$_RA](QO.>5A/>@T0&,]#$[C3DG-VQ=%Z;E23CO.@:YF-T9O[BL6/=W MNR[K9Q)&<7JC^J2-B`UDIU?_I'T1WQ,IL+Z$55QG>3P/\T=%.)E"U"K2"T(] M[O%C&=A'D>LKY1])]"U-KBYS9+*$U_(:0X""4U M%V5R+C!FR6*>"KRT6M0&TJ_A0SQ?S`\6\T52?,-F%C5H`3B:5V4Y3M.S13Z[#0M2F'^;H8^QJ"%= M6I(\)]%&8\ZL,0!ME.--WD,,>D\A:AFI$IM5>]N? MS;)%6BZ[9)\N>4O!/K-2V`E:`XPNYE@25R04LK(BN2-L=IS>+&?+\GFJ7-(- M3L5<52EL9S2FX4VU7<3FRFK#D4G:P-GF-7;>3O)[.AL)IE>!#K=Y2]MZG.87 M\3Q.POPD2X=JHFMK0Y>#C,Y^4SH@@LH-\"&L4L&@B57DT^'(Y4VL(M\=CES> MQ(I?-,7K%.7^[/=%3%@P3S(;-+.X[*>&ZPD:[YM+O*@81875I(T-[">D-.E:B1B,WF5G`Z?7ER2?QVDHGCQM]!`K)R!97EYG M29Q=+O(THVBDN[UR22[$N6E6E6DD*_BRX2M>EW M^?Y3O4]C`%C1PB;N<[9F/[UNK=Y-L*M;6<3_*2?AM[LL3DMV2,[6S7+>$\HZ MP?HU3ME*_ZC:R:ORX9!Z(K$_9[`,--`^P:)>?!1%^P*EOQK M:%I9M0%REY."=N*GK+S]&A8EY;QJ0A>)MD+,6MG$3_\W"6M2/KVF*\.0^C5&-38ZGJBW;\_ MAQ15F8=93B=68?[80"0D/4IGR:)U8TJP[!C^*+M>H"AI_T:7V3FY3LBL/*!V M0!3>6-'")NZ3K#S(Z'N3)11FRH<+P.(UK=WJ,\@3*!JZU<+,0XA:`,"M]1RB%@!P:SV* MJ(5[W'I/(VIA'_>`#3M%"_NX#Y*LH-,Q8]1]>2LW->AZJ20WC]*99D_`)BH3 MEE')VL3:;&T?9.F,KMARR;&(3MY6O(4RTL+JUV8O-/G2,CE;&$T\D4S.%D:] MUQ%+V<)WG!7D:Y:21S&PUL_61EZ61NR4LHBO8Q)=E&&Y$&QKR"5MX:RZY6N8 M?R,EVSH10^P)V>O%\BAEX831(;FC@XL^]9'^H8S+A>36KDDC:U8CF_>O_6@- MC>*:7_=W6YC$2.R\_Q-=7]V&>;F?1JWT.E5,L)3$3-I8SN]E0G$:<Y' M4154'B:U\HI5-#Z]UYU9]-W^IB>-6R=K$NOR( MR\/#*LSK.`LCP?#5M[!RPIVFBS"IW;]T%B84LHY.,2N3R=G&>$1-N>H><6H' MA:AMI,'>GF#_L2_A`)=@_[POX0#75(NKE_S2"B[!OGU?P@&N=UI<[YS@$IP7 M]"4#Z08OK!R>X]K2X]NSC8@FCU+AJ"0>X-/Z^EG"` M2^/O:PD'N#3^OI9P@$OC[VL)![@T_KZ6<(!+X^]K"0>X-/Z^EG"`2^/O:PD' MN#3^OI:PCTMTOZ`OX0"7UM\'3OQ]H/7W@1-_'VC]?>#$WP=:?Q\X\?>!UM\' M3OQ]H/7W@1-_'VC]?>#$WP=:?Q\X\?>!UM\'3OS]5.OOIY;\/=_9-+FOH9*U MB55_;T,N:1/G.0F+++T@;*^81'4F]IBE=6/97/)L?C2?DR@.2Y(\GN5D1MAN M_1G)XTQP8>$YGFE7]^J0\DN65QA/LK)*:$>BHW25-%>EIE%S&QJQD\S+C.W\ MUJ".&=@^(UQVH'Y\_QS2TIRO]<4`0D3QZ5WU\I;/5< M4`A$/194;=QC'XK;#N;C[+OQX%#)VNQ?(0[UT%`T<8Y\(&KK]PO4UZZ@W+6J M7LY.M@T.P@V;N="@=77GH,IL()A%F;2Q@;UZXTEV2*+%K$IVFE5)LWD\<%7N MKH_>K)6+OO^%1937OO@+R[]`US'BE#:&[5SH4-WK2,A]F):7&>U+GA]&KX6\ MI0L]3M.ZHM+I-2^=>'&;?5<7254W=*%%*RT&1U,-%$%"D`%-G8RK85=9I6U< M8&]6^O6R4WQ/E2_2-E[;VGFKT_X;\.U=[:YT<>AW6?0MK.RLW5/>N"%FE^,4 MLJZPJJ[*J<4=(9:L<>22CG#*`KP5HBZ1BHY"Y*(.D0H/*^6BCI!>Q!5?+"]N M&B'N-G&$7'EJ+?F:U6^#;](:;>" M-DC0@A*F2]R]"U2@5]9D96K M`'L6T"G:RD'#IGY%+5>N`&SZ7ROXRM=T7A"^N`HL5\$+>F\7Y^#`85.YL((L MAPZ;J.6593E^V*RL+#?+58#.QK(RM!P_;)8U+T?+]8%-N4.*TG*-8/.Q08U: MK@AL7C8H6K!IO4SZ05=#E^V!3>P]\_#MB%S=T]#<[;)Z;O8/.UHA(O M5P`V3^LK\W(]8!.V695>KHL7?"VLW*#"OMRE6`3NUF17ZX+;(H?5.F7WWWQ@O@W*?#+%?1C8B`O^,OU\&-B M,*#>+U?,BUE"MQ0P!^_%!$%<'YBKX,E<0%HOF.OAQ3Q`7$28J^`%_7<*#'/L ML'E>7'R88X?-Z^+"Q/SJIQ<$WBE:S+%[POA$U*(*QUP/K]A:4/&8Z^$36XLJ(',]?*)LQ?[I!Y_HNY^-@6L!F\A[191Y M)`1L#E>55N8:P&9R7;%EK@5L[EZKR,PAP^9G6:UFCAXV*\NJ.'/TL+E87.&9 M8X?-OYTBT!PT;+*5%X?F^&&3K+!R-(<.FUF-RDCSN#W8;+M6:YI#ADVOW6K4 M'#5\.EUAA_YGK` MIF-U16RN`VQ>-BR.S8/283.S6:%LK@MLRNY5TN:P87.VJKXVU\`/)I?7V^9Z MP.9Q8:)1#ATV>\N2CG+TL.E9D1V1*P";G_O5O3ENV'S_9+V#7"?F#-H,2?P[%T=X"WF!)Z[JP.\Q9S` MDW9U@+>8$WBJK@[P%G,"S]'5`=YB3N#)N-:!3UO,"3SG%C]F45S?"X!GV^(J M2._P!<"S;'UJ*MZS6H<7A!UTD6A8:<-&5=CLNU*UNNK!*SB>9&65;)E$1^FJ M5D5+*]C4W*U-ORQZUZ"'S<_\FW2U6#LK"X"GYI(IT5(`-F>+Z]AW1Q)L^FXN M2PAUZ8PGV(2N5J6E!FQZ/\Z^ZP>5'_0N5&5]3`'/SJ74I*4%;`K7W:L-@*?F MZN)G%XSDMXL"X,FYNMJT[F\>5$FA6G-#X%FZ*M`GV2&)%C,&B4X.60(4GC'E M,GP@[>\"F\Z[W^47EH^GYI(O+)4572RNNR[8S-ZK3L]NY"7D/DS+RXQ^&9ZO MKZ40;'[O*G2:DFHE4LCV+S? M&W+RJZP!\.Q<756:S99ZQ2^.DN!KX\%;`,`S>4D[0_1=_9I*R'>@@"?O$A04 M[]Y5#H"G\!*I("B'!SR+ET"+SFH->/HN@0*=##,!\.Q=,@U:!V[`TDNF14L!V)PM4$!4VK[1!C:!7][&>?DHMV[8Y-U!+[)IV-R] MKD#7DF&S]CKV%6S@:;L:V"JK727N^MMV1X5C^I_U+W_9VIH< MBYRL=#PD91@G=&81?DZJHCC%Q=GA^?FB*$B2L&B(X^S[WS-6EIK%EW^^_-)T M1ERRMU&)G>G>A.G!'T[_@SU_NW[!I'[#A+UB\@=_R9]4B+UHLGS3A+UJ0M\U M6;ULPMZV-@SH&GFM`^A_AV76?,+;G%RO?_V"S-[>9/?;$8FWV75)]H\M]H^M MG6!K-WC[4$1_I7_ZQV$V6S!T4_J?]A[C@+TC8TNJG-T8MMNTB/ZS&M`(H M%WA1P^)C>2NJQ_*Z<0WH:69J(O3Y(:RCG5I)E,T$SAFDN?U6,SS[E!Z;$_:U9>HV.C`F;+-5"9X@'39WWXE028770'=JJ?[H9SHH"/._R89;':?+35O!F;PO`9);.X^3AIZU5OA/ELSC>^GOXW__UX__L[/QV M-+T`\W2V6L*D`+,,1@6<@[M7,)V"DS1)X&(!7\'Y)W"=I3.8YVD&/KS90_^_ M!ZL<50G.5O^*BWP%SI,"^2RB!PA^^S5*YCL[V,,B3K[>13D$J%%)_L-+'O^T M]5@43S_L[G[[]NW-M\F;-'O8W=_;"W9_^W1Q,WN$RV@G3E`]R0QN`63_0TXV M7J2SJ"!'U-C]Y2Y;K"N8[&Y\<2WPKYVUV0[>M!/L[TR"-R_Y?*MLHD+]6^N# M0:6QP+YQ&*4]KH!U^,'!P<$N*=U",0/@QRQ=P"F\!_C?S]-SKH^#76RQF\`' MK-I%=`<7R!FNZ(?B]0G^M)7'RZ<%7&][S.`]NZY%EK6JPK$YP+$)WN/8_*7M M8;=LY0+_ND`5MUS"EP(F!*DKA[,W M#^GS+CJ&_;U@'_V[@__=V0LJ:?^297\@?/,G."M6^6UT5X>$',-/6U3I[J8U MV*#5G@SFZ2J;=:L@__#<*`6ADF^Y0%7BO@J3G<\W6R">\RH/ZPT__%CNWVKV M8=:.9)3-U@U"?TK:5%GLSE*$\%.QLVC2=9^E2T;4*FQOG7*2Q6 M67)XEQ=9-"LZ(K$,ADK-=Z9';4;](=ZV6VYTHCC_F&O1Q3$>JOLP65=N1JUTT5&Z6`SU"MVH.U[\`_NE"8]:!UNKR@FE:UVN8Q>G\ M-)F?H!,11^".S5BEF2[U2MYV46M?;@>H`.`2EQ@PHT#SP(V]*3!.DR(N7J?P M(<:#3%)<1LNNG&R3H5B('.JA@NDAK'\#O,$%"Z)#KU&0A=LL"<<(PBQ:G*.Y MY\O_PE+ MZ*$C8*=L*`%,%WJ4;U<=;GX"_-N%W,QCK67F1M2XO"BIB\!CG%R$B$EN`)HFXR]`&`YU#O_;WFHI__KS2N\X$9Q\N*[]KN^N?)_=IMBQ'G6K3X4N<G_!-G#22:T9FO)/$F]+5W4L[9>QF&::MXU1('8B2.2#67O''CIL" MAWQ%34V`+^!#M"AOTC#F1E3I4,0X;O2@U*T\O(%9C&AQ-_/A'&Y-@""P9F^1 M,J,YTJ,A57M8;P%?RFU.^BKOL&MAS87XC_T^07Z&V5V: MPXO>L49NPIOKDRF8KO(<+A8@0.7@(OT&?DD741$O$+?@]/;L^P@_#EJ:S6'V MT]8^?K)=FQB3/F*LGY>/JON@/=28J*D!2O/O1)3)1I1)6Q3#F?Z;QRB#QXLH MSUFY':[9^.P_V['N^P`=+R'Y#<@&EYD=2118MP?X"A@AI';'G/+0Q8.'$8XC M3:?-;NU-`MS,@G@'W!@V>(9C3#DR(+2F+4J"&+FJ;PD646+LU4RIYH@'()Z M[#?XR;R^3=/T;)ZRV[`T!=@6,`!T.&CUCEWC^;PARIJ<:9^E:9&D!7(OGFFS M[$;.M/FNM?X=1I@)'QU(/(DSW)D!I.Z)PN7L% MN-PG;)BAX<'#%<<"0JJ);H&Y'I@LI;WYWBBLO,N"2R/%`\Q!3IQ%.#M;);34 M.5`9R5F)'#$&JFTR4FU[D+U2B)!XO+*5PVK[_C4N'J=P#I?$N3")U6='/9RI M-,X$=D*_70JW`38'M;W+3%;_^/&@5-77QCDUK1O2]_PJV573N5:I@4;.NV+/ M-*N7:9-4;T_)2@'EGIZ51;<,K_II6["7?F2MG<[Y3B6@;H.C5T_/]-)`JE#J M<@;0;$>/\[]H-_V(VCOW"[S*1E-OSOORR*E`Z?2,86+T8\LD1: MF7G+/,V*^W01I[>K+$F?(2>+S#<;_):YQ+&FM\QY7L)-"5@7N-]< M00L[K/#&'Y&A-EX,C3L"/TQF'`\W\K`(P+'X:'2!KF;APRM[=*%*!S_;RG:C MZ6G63N7A>H/;@8-SS(UG5?G1-:JU-.4E,AQ+@.ETEL!/S84_:2IY6&A>'*2@ M\'O#_%>WM;RT;>QU[=:+VN[?T!:^FVUK*,"^I,,`SVB,RJ:[/\='J;T_W5X< MBC83CKJ[-&'",QJ#A^GD",='B8<_>1!Q*-IX.,AY8+>23`?;9`P:9K,:3`\E M%KXD,$1!:"-A/5EQ%&7X(>#B,)DWEDTG^5[VK$%EAZ&PJ#=&#SH*_D)D0Q[X M+LBJTAYC''2\N+T M)#T7V3KQK/T)'V[@&8V5WN2#"QP?31#N)=?4?+.QW)B]MN9Z:3#CRT6V+"(T+_:?#%"Z MPM9^66WE6II[`4U?,E=%CB]KQ%?)'EP:$[]]KH^Y.^@"Q^*5,L\?`Z>-E0]` M];Q85I#,"F:J=!F`RA)+'(0<3HNE@>`38P^43U'V%1;GR1R^J#*CMLM0?/HT M2`])2A[#T@H0,^`)87UB5MIJ?V.$ZHI4A_\&`-TFX(N*N/LH)O98'C=+%:)I?1LJNHP$[7,L>4 M:R.`--PP%CLFA1ZM=4S%A+_<,5,10W/REWBY6AZOEJL%N6XD7W\NUW*[>H;9 MU?T]S-``=YW%E/0]]QT^2Q_01%W3]3ZNP\H*2^V:>XCS&`FTVR!"YQV1M8/_%L MAJ\'EEU13>+8\'V^?$IS.+]*KA$PCU$.<\5QMF\=(W$=UF2M^/9LP@;G%L/5 MGB!-P&9?ST?B8:>!\.C,FNL%XOMO]$0VW/D=CW:9Y6V)4<;Q#?+"#\'4TP M^H26@KFO^"X0YD\MQ'L80M;8M$+HL">B/@(IG%"H2FEI.G&53&&PV2>'R;H[[S(XKL57G(EE]`YHCI]DXQA!V)JOM&S->RI!YIRU+6`337D MZ?]615[UBM&:B"8BP_DR\P[39EFB,TBZ<;VA@ZW0\F;'YIQ=OQ61JFYGIH"B*9QH@/CA94C,'1QL&QTD)M;5W('LYF M&/^*IL,\AT7.OD9E6XZ\_!2YUWIER72TN6BL2OEC!+%W>4TH"A1UN2>3R@Y0 M,HPTPF,8&28H7L"@@(#EIUY862ZFA9XG70SDHE@.ND^W;`.RW?U3+9R\CR3B M1CBXA,7ZDW#<+U7Z5&D1;1 M0G[UQ_/4$N5["[SU:T))3]6)AND^RNJ@OG9.%4#,QMY(GV1WR-NKV\,+<'AY M^1G]<_;Y\@1<79].#V_/+_\!3G^[/KV\.;WY?D3@=]'1DDSZ2()VNTMS.$B4 MR9].E,E&E(F%O+-AE_SB!WKNO3A>`GKDO+I;L^&55EX MFA=(MJ3I-]`J]VJ!N_#3X>7A/TX_G5[>@K-3-]UXO!*6IT+-.]^'R?P&9L_Q M#`;[=X&PBZOO-I2KO@W3,P0H>PV;EN21BLH6_!59[P1_(P.%"P3[!JY&TA]1 M#0T>/=R')^7:+YP`FY.I[^<'Y_6^CH:8LSKZW`(NLINXF6\ MB+++-.DU",EVU$&L6N/T#T02O^VA*,U`90W^BNR!1Z.16OS8O*KK:X11DD24 MI@VX5D/ID[C5@QK/24@*E!)]3MZ(E02GYLB6+(;.6GQOX=7MSZ=3I]>M8T6P M?*XY3I=/:8+X#=1ZM(+]4(B4FZ*GE\O=A;4):'=]%V`IAZ=&K)=89O':[XD7 MWWXT7K*F:,:+ZZ[&:]\GO&3A8>"E(I99O"8]\>+;C\9+UA3->''=U7A-?,)+ M%AX&7BIB&<'KE!3P:K!\T%"0U-G5=_AX?$_/Y]/3T_*6T(XM4-R/BYGUB;5M#SK1NWX M-8KQ:U79%,;+NU66D\PW=U11V6$HC^J-T3.>*/@+\:.7I1'.W[3,7*"G'J*: M.[>2&7K50LGQ?X9ZEH>,JR>(5Q).'M:#%V>I.8'=X.R.S+6FM!O73;@IVDPG MW"389(%H9'=49+`#"G?A.:&E-EA,+3XGIUB<#NS[63P>"JL#)V"(^?NJ9)T'<+3#Q.XRRO4!(Q-I$ M#P]MAR8>BVL["G\_/9R"P#T([0/G86`BV/VN0/MVOHV/;N?;!M_BXA'4;S)N M@P!@Z^]+"S;,)%WSXE68HP^M=IV5';/B2=(3)20T!QL"]USHM8])Z1[ M.DGP#1?#:?\\>L6-X,[+9<9Z,.(UP@1.E"\:JZ-7@M&V^WFZ6IAX>-F2J^=[ M&S#K/]@R7(;EK^]?%O?GYW?R\_,[K:>,=\9/&.]43A?OO#I=O%,Z76@6PD+? MW3@*O\MX.^^>P9ZT>P;C7_IB.C35/9$'E8NM/9]XJ:,BXD6W$I;Z)W$4?I\! M=]I!+].:6*7T)'L'/(= M]:-G\W).Z%>"HK]7>BK15"'5A=H6SE@2]]Y<&9J2T9LSGL+-%Y:Y?@C[WY09 M,]"L[\S(AA=?[A;P(Z5"GVG5+`\8]>V>/Y,\?@T)XAL^+'-#;LU25;18@J+598<1ZQ/@#`M!K_VR'>GZ3U5AH.PW`C*K:#:[##E+(A" MXY5%PW$W,GJS_835G]]3K"V/RJT6\&XN\8RT4&'HIA''1[M/>G`;2!P+#BK& M-##?.3VY;3,N[`X[Z3DY)#10G$2%J)]V['1@PG2MO[>VW70[[*84X&+7Z#!# MPJ;'M"#&NV[76_CGD,)A7PX.#KK9$+I8!RA-1_H[+*F],]G%VUP3T3QJ-@C= M"-M0O'OSG"[6I+CFF^-4[;3B3EY9Y!TU5_'`MN+[8L7WM2FN^:TLJG9:\7T/ M%-^7*KYO6_'NW7"Z6)/BFN]V4[73BCMY[Y%WU%S%)[85?RM6_*TVQ=\:5?PM M0_&W'BC^5JKX6]N*=V]NT\6:%-=\\YJJG5;\G0>*,^YSBB)L0_'W8L7?:U/\ MO5'%WS,4?^^!XN^EBK^WK?@'L>(?M"G^P:CB'QB*?_!`\0]2Q3_85ORC6/&/ MVA3_:%3QCPS%/WJ@^$>IXA]M*WX@5OQ`F^('1A4_8"A^X('B!U+%#ZPJC@Y# ME',KBW4HWG2D7W%2>T=QO,VUXLVC9BO>C;`-Q44YM[)8D^(&;;<2.VTXLYS;LVCYBIN-^>&'(IR;F6Q M)L4-YMQ([;3BSG-NS:/F*FXWYX8;<2.VTXLYS;LVCYBIN-^>&'(IR;F6Q)L4-YMQ([;3BSG-N MS:/F*FXWYX8V< M6R#.N07:<6&,VY!8R<6^!!SBV0YMP"VSFW0)QS"[3E MW`*C.;>`D7,+/,BY!=*<6V`[Y[8OSKGM:\NY[1O-N>TS+N&Y[Z)T2%M5N&14]*UUT@+NRG&J.FX"\GO>E$K3R!B!T4($U\B M6U`)5T:3FFM$RN0Z:3)O/BS*I1@1(4Y<=8S0-(WSKZ7?$UA$\8*LA8N7A#Q" M]7_MZ"XS'DJ26B/T<"3Q%>+RW2K=4EJ`+\3&R1J9:I&I>5)7R`A-9Q#^&L6( MZ:ML"N/EW2K+X1(FQ17:=)CGL,@QU%?WMS!;QDG$.`4.JF$H=R.:JP?&(0T( MT4Z@W`ND&6CM!U*\M=QSFPR#(+T'C;U=,#PBRC78([DP0OMUFA7WZ2).;U%_ MPY&?TJ=?CLU08H4N]3#)=A%N-H/U]FTP=72>%4:A9D8:>Y,?`3G*8/3U*8V3 MXB3.9^DJ*?*.HB+#D1^0$#C7`XG`S^9C'W4AV)2Z_^JH(#34!R0DTMC!YU.< MQ,O5\CQYAGF!A[PI_/X'U M;N!+N:,?K"K&5D!P#P[,?AMI]H@4A;=9-(?SLU4R/TZ7RSC/T0F;,T!*=AG] MK1V%!FEE5NRQ\:VDT@R4=@`;@H:E^Z%4*72,K_(HRFD2PWP*GQ`=J!LUQCF(.-&S=,+IXKC MFM&&-;[@;=J#:@=,JP>H]@@H36Q/R8V`>U4\PFS=H$OX#0_@1U$.YU?):5[$ M2W2)U3V/J^TR%-4^#=+#J)+'D%B!M=DV0(;D'+X-B"U`J&ZL'8+9)WPUD7TE M-7,G9%;.8+%SA'Z.1N]UDR1$]MIS\/V1_LW3=*NDA^-P;5S.+[$Y.;?7W'I% MZX"8-FZV#%/=Z/F_U9%^CE"#BBQ*LWF<1-GKIG40XMM"BQ6:,'-F`P/J&3LW M&-QTO3.%_LVHYPWM,1J@O4%K][H(5P#6-7@PCQ@8%ZX_PV MG<+[!9P5QVBZ`WDY+X'Y^(LS<4-T7YAQO#4ORDH34.`/*1,C4%EY`*-W<$CO&`4CP5OH>O,QX*,!J MC=!#J\17N"X']7W-EH5#`-7"5-.F+I>Q)X@NTAQ^2A/XRGA@J%$VYOD@RH6^ MQX'JJLG3/P#_!F2#0PJ8Q]Q^T(<966,:7Z;)'#^`DX/A1G"?Y"LUZ3N!3FL>HUE>TH8B+%6,. MHK3'N%%%J3DZ!QBQP_584X#*#-1VH&'H?.!1BEMW#%)6TAA_QQ'KE8M6R1B> M.M7KXV9=<^F MC[@C,3.RQE1F:#M.4?TZ5NJYE8TMEOD'H&%VGV;+B+S_1/["_?]\L5CEY)HT M_R7*XN@N7L3%Z]5]^5Y"]YIA8!V#'Z`>TV1-#U@/:D+8V`TT]@.-'4%C3_P< M1+6O0SA'A;OQ)/=82$SC?Y5`_$[I578!T[:6%(BHB;P'C M=U%PJ1^P,6DC5 M)NOK:F+D!UG":#$)DRIGG+3G*%Y4H^/U([KT%U!&F^H@C-<`_711GMID-8H! M*?<$*EZ`V$")1+()TZ_P[B8N,."9\+0GVD6LXY(/'#+,D2&H+/U# MCQT\*8-\24W#>!WEQ4E*;K2B435&M<.S%9K\"48XP2X:4)0V2#N)?(\M$+$9 MP'95AK&T!*6I'R1*8\<$44E/(QP>1=GQ8Y2MO5Q)O87(`A"3&KCU,TK$#!`[A]"I!JP&KH]X1F&;PBA/DQN(W_X3M.CB;K[AXKK=E M#S8B1V%5"#:E[D]7"H&IZ;$MS1^]/G6)]L[AQ1B%D#]W2^3K4@('+)?K$H:::`])Z46:* M,)MT\;33$0>E9H>NZH8F88( MW;F;A>A1P=$[GGY(0T2?+90$LX]8'[P, MH641*RY2WL'4$R2;3ZV01?GQG639(P.*^VAX;D7>).T/K@A0*SL? MN.-'BP^=6#TCQ!%GE^D)G*]F^#GHLS3#:YZL%TFYC5ZH5774=AE*79\&Z>%. MR6-8`G:9@HT=N6^.+;<;"_(1:X=WR_N$KP:QKZ16!K_/>,6S,@MQAI?]C1:L M3W@H[J1K$!0WRLQ`R/')&`P_DX7RJNQ39>ON0R"]0L626L&1/%FX@,]1 M4MRFJ$>NMB4-,L,FCRG##+Q"Y+EHV_I M/8BP-8&3V/OQX+U*&/E\*@AL!<_&XNCKAI`AO?LYAQ[[Z4)4VC0SD/+=,C!M M+J%?4UK:^\"G-(9\0I44ML+H69H625K@ZW[\*#3[M?;U\Z/#GNNWXU)7SS`9 M$#.=RDB+&?UQXV?S/@%O`8CZV>KOXQ4#FPSP!P73_<+6MY_9RUJ)##5^[]G( MHE<"/Z'#Y:_DAR_\K+.MQ;%8KGEK94EL=8)B:"4ML:NP_-L76@1K:RDK8829 MQG*0-_`9)B?1Z^\Q7,S98XO4>B@WBLW00X[,6=A:V).8`&0#B-'V>AT^AZ=1 MQ6C5C/70S2YEO.%)90?MK!D:J!3\"8ESOSR@>L04D',_MK$6PI'8ZF;-P%(X M8E=BPHB-3V1Q5L)15LDJ3XHHZ:?(#D!B=GRB1AT8%ZS<1B^G_U[%S]$"74TJ M@L/:1R-%_"890XKADL<7SD+6ME[AQ@^A2 M#UAL%V&YN3EUQM4\*;A?#--;!B:[^_1S`IM_UQLX?^ MFQQ\.'CW"2[OJ*?V2X"6^N3Z9@NLISN%@`5.<>N$B_@5_21524B^>>WIY]'^'GO_\X M4HQ)'S'FZ6RU1-U]_3#Q/F M\$<7#\6!YTC/\$?5'M9;G`Y_O,.NI3878D/#'\.-M\-?__#K&OZH>@T-?PP_ M2FIL>SY&#E"..496;;]`^Z+?Z!?ZXR[*(?KQ_U!+`P04````"``:>.M"0KE/ MFH,Z``#&UL550)``/C`-]1 MXP#?475X"P`!!"4.```$.0$``.U]76_D.)+M^P7N?\C;]W6KR\KTYZ#G+EQV M%=K8*MMKNZ=WL%@,Y$S:UK12\DA*MXU&__=+2J*DI,B@TLX*!:LX\U#N5%`\ M/$%)/(P@^=._/R_CR1/+\BA-_OI#\./.#Q.6S--%E-S_]8=5_B[,YU'TP[__ MO__]OW[Z/^_>_=>'J\^313I?+5E23.89"PNVF-R^3*ZN)J=IDK`X9B^3LR^3 MRRR=LSQ/L\G!CSO\__N35[?3W=V9N^EX0^5Y5_$ MU0BPCQ)>5S)O[<4-UNQ_GY76P='1T?OR:F.:1SI#?MO@_7]]^7P]?V#+\%U3 M`6_&9/)3EL;LBMU-Q+^_7)VMW2!_7&3YC_-T^5Y#E+ M[M)L&1;<,1R+@/27XN61_?6'/%H^QDS^]I"Q._Z;N&GQ;KH3S';VISL_/N>+ M_SOLSN]?C?@JRG^[8L4J2ZY7RV68O?R2Q.$MB]GB^O+TZFJ5Y[P[!#L[.Y_3 MW_^6QKR^F%?^\>;3VYKSAFHW;ZMP[V(5L^N',&,/:;Q@V2?&\J_2P-?6]?I6 M'2?)*HP_K9+%Q2/+^#V3^X_/CRS)OW(+WU+OZUM;5_'Q.11H;[(PR1_3_"OU MUC=7NJUVGJ=7;,&6C^)I'Z7-KP3PUEY]DQ9A7+TG;)WJ0YB=\&>NV$:G?E6U M;V@K_W3SCVB_;B17;Z/^;7R!3ED11C'V!VC36E_1TBB?QVF^RIA:ZVE8A!]C M)@!]G9?UEJK^RN.+Z3CC"WVU7V-\L;T&OK:NKSV^V'X+WU+O5QU?;+^IKZX4 M;7SQM=O\2@!?:7RAJPQA?`%7BS6^^`I/\A;J_[KCBZ_Y`=JT5H3QQ1:;NYVJ M+6TNYX%R-O_Q/GUZGV55JW45VAMAN"-OU)3_*QHW?;<3O)L%9?/T==1H'S.6 MBQD9\<[ZS&M8JYL]%RQ9L(6L74#>V@Q25(B;[93_F[R;R#+=/WGY276#2?<. M)7*./4[G:W#Y?X=%FKV%JRS[QV66YH]L7JSRF_"V9;[L^7_]H7?U_==%TSKO M^#8OLG!>*(!T!@VFKG>/LW5\83:7M^)_]ER[/FU96[Q_Y`.VI'@W?XCBIE?< M9>E20TQ=5ZJ'F&9\T/?7'X(=,<_[=@X7+*I(Y'^H+/*?_B&[U`V_K4+@^J4Q MJ#/[6+"WCF\DWBY9%J7\85[PEX>)0,6&+I,*T)K2*1*EU0OMA./(POB,OUZ? M_X.]*)0:;.A1:@!:4[J+1.DQ]^I">/93'-XK5"K7Z%&H`*RIV\.F[I3E\RQZ M['ZB50;73`@3N8:SYG,?B4^N!D3$\OIE>9O&"I'*-7H,*@!KZ@Z0OS4?[^[X M.")Z8L"W1K&A1Z4!:$WI$>JWYHK=1P)A4IR'2Y51O0D]0O4X:SYG6^)SH##0 M=$SU(CT"583-2!+Y\3X1N1J<#.#I7C>A1Z4>9TWH88?/G]ZK^OHKJNZW9T&T MDCP(UB6YN/?[ZN:3^NZ3/YK[_\DM1!V3NI*)J&7"JYFT]4Q$1=^8#:]LAEM+E7B-$=9/LU6__N!9?E]G1 MP='N%[:\99G"3__R&!SI'"@(ZJ-;>RXYPCN696SQN6J,$4%9_1/+;M.UT8S:R]H(]`VL`N.+$R%>I[/9P53;9?N7Q^5+ M[V1!7!_IVG0LX;%&VR;M-[%_F:H+^DBW'$SXGB/_VPIPV;MBFV!:XKMAS\4' M?OO?=/W2;$MO%M("6$H3%**!/%>0]`W*T7/`!N"E,[852P.=L9Z5^FM4/'3R M4B%O;%*0GCLV02_E#,K#`60)#_<&5(RZ+R#LTA.'&)Z0B<@@[R8C>BR;D,JA M-4Y8M!5:(*V`'3UF`;"27)0.^R7,?F-%F5@UE.=A1>A1/@RW9'];&10#A^`_ MLS(SQC@";Z[3XU4#4A.I_FH<7MS^LTJ`T5/8OTR/P3[&+:?Q#"/P,HM$W-WT MW`-VA"GM@]UV7LHP3$3U:34@EIRCAB]Y$ MB)Y5LQD]7LU8);,HT\&7:5;P3Y0/5@V%4 ML("A`^SVW[,SS(_8IS0MDK1@N>4CIK.CQRX`5KX64.25?"F=UN%`,1]T;^48 M,"=+-8!9,HZBQR23&H0_EPZ*"M6& M++\J4$DHICRK,7QX^3L+#4,+T)(ZN0I<23'F!U`&0P:*.<"<.MF`M)NB2#N= M[_5*!+2DSK,"5U*,HO3,$;Y-.[BE*'4GV/!+KZ"H1#.TX0\!4,HE7Q@>CA$R M,(8J'\"<.O&`#IIBCLIK."=Q*C;Y'L9WWY@ZVWW$3;(XRL0IAU>P^Q?],+%W ME1Z;/8B2/IQYY[IVZW<2,J1+*O`-G*&,3`1,<[R><+=<@R-*__X< M4H`>TT-02]Y1QJH=%-:7KL66'ML6P,VJ+\P.#O=F![JNVD]W4>8M9>W63@H9 MTB45ZIXH4^\2B'64`!G2Y1<8+>RB"`$)Q#)B,)O1Y=8X0QF?J8`L+VJ[.7W. MC2_NO>Z0`V7?P#>>*-C9+'`J]O^K[R;^;&\X$7><_#%L>\`_O[7]`3=)/S8L M\C=:$5OI;\0YXG+_DS1>+1/-GK>`W1BT6GJ"+KF[@QAS,=>7\#E:KI8GJ^4J M+K_8Y3XY54+>Q1/++N[N6,9?;Y=9-%=)W[`L44=LV`K,A6)6:,5#;S^<@65< M=4:%'G5%68VI@^1L69X.=9%`2;OIA_6V&DJO0?W8ODBL6)4\L+]CB-'J*%EQS MB!WSUG;0LSCG#;>C[;DW-`QUF5Z;)<<;)$"T/ZCA5,B2J#-`S*C;8JTA@9AU M@TOD)8^=]29@'P7LB+(*($;>*:S!8>;4!1:15]W5K_OC^3Q=)47MQ>,\9X6Z M42MH2917$#/J6KL>$AN[[G"*O&YN':)N;*:U(,JF%NNVE\WYTUW\Z2[^=!=R M'=.?[N)/=WD31SH'^M-=J#S>_G27UW+J3W>A0[4_W86L!_SI+EM\6?O37?SI M+OU9A&_G=!?41#S@/(E7).7-UI/RJIM/Q-TGS>TG\OX^16_0;I:&)#W`CM@+ M&T"*F:C7WU/3E*H'6HY!KK5/Z/<,'2UA+PGOF9AK$E.I0)3"9$:68C/D56-DH]'^"O;';&*`2O+GJ(Y"Z:W`>C'X<7(^G5X$P;X MN4[Y<\31%]EUM(SB,#M/DXU<;2OHA+-MC4#-!SQ)EX]IPIL6E,$EV0:C-P;8 MDW7"`.RH.7\-GNF&W)OMZ7-OQHZ:[]?@F6W(O=F>/O=F[+A[YP]BW#V>C8B' M?,#WJ'_`C^?_6D4-2TQ7-66!\3@PU9D@UX MMYVFZ)/!?#*83P8CUS%],IA/!O/)8#X9S">#;9H?XY/!T*CVR6!D/>"3P7PR MV.B92#X9;'07T$L&6S_QXR8+D[S<-.45F6"[ZYE@]9TG]:TG?[0W_]/G@=D/ MES$D@9F,B+VE33`QT[^TIYB9,L!LQJ.H1K!#&`]J&RD);!V+0+(3@"1+$Q>H ME5B_A:PO3MCO7OBE"M0=&J/YM M+ZC5Q;-1@`LN./YD)]298+=0"H)U<0T(B.G,77:%;`/F\406-'"@2V?NO`-F MR$<36>#``2R=N?,>&#?(I<*Q!+QTYJY[P`?%?%#,!\5\4,P'Q7Q0S`?%?%!L MVWSZH)@/BFTE)..#8F-[P`?%?%!L](B,#XJ-[@)Z0;%J:^T;L8W2%2M666+; MKOM#F(E#8MMYDDXH;%^[;7=Y\TE]]\FPD-?DOV4]__-=!;]DJ\O:#/$N@PVQ MU[0!)694J^I_5<<["76GKVHMQB`2]'LYM-`AQ8Q!K0$PA0--1O0I[4?V4`)+ M70QG?&!9.O8T+"!B%3ORW"IX4<-&71S!T9$:I.A?)L]F!1,U\J-4KX:;^Y== M(#'8?O!F$Q*G,(E3-TCL+'O$F558KUZ-N_/60 M8JDNNT!BJUBFZ(J%5P\IENJR"R2VBF6*KEA$DV`275`L%4Q)(KIBX=5#BJ6Z M[`*)K6*9HBL67CVD6*K++I#8*I8INF+AU4.*I;KL`HFM8IFB*Q9>/:18JLLN MD-@JEBFZ8N'50XJENNP"B:UBF:(K%EX]I%BJRRZ0>-3)],(GL;<0I'_9`1([ M:SMF(RB6`%8L@1N*)6@5RVP$Q1+`BB5P0[$$K6*9C:!8`EBQ!&XHEJ!5++,1 M%$L`*Y;`#<42M(IE-H)B"6#%$KBA6()6LY7H_O5Z'XUNE^-[E>C^]7H?C6Z7XWN5Z.3]8!?C>Y7 MHX^^%-JO1A_=!017HW-'AO>:1>EOVJ'Y0%F67E6B7Y[N]V>V?DN[/JIH,RQ4 M!RV)O<=!K*B+UOM`ZM>:C5OU[8=([(`^82"Y!HVZDKV/0KN-,F#G%L=C[)AL M@M$+XIKM'"2YLX`.)Y"AQ]'/P3+;N<=R=]]=G-RL/H[KB.NN9F,#.]NJO5NL MJ^AQ%\[W\8`[95C-W>+>L'L&UER_#_'Y$%^'2Q_BP^F8IA`?UC[SWU2([S6D M^1`?M6FW[RC$AS,3_YV&^'!F<7R(+]-.)_L0WY@A/I1DZ>\NQ/<:+?9=A_AV MJ8\UOOT0WPP[Q"?EX%64_U;-;)RR(HSB7Y*2U%<%]@XG[R;ROOQ/<>OWU;TG MUE$GW=C+'D`*L,R#V].L@8H:*U`FQ$N`- M>RX^\/O_9N13;SP&M^9.L$ZO'K$F\Q=G/C+*YW$JOKDJPM.P"#_&3$QMV`[# MTTU*'HE)R>;F^FE)4<7D#UF)GYKT4Y-^:M)/31+IF#[WS.>>^:G)[W5J$F4N MYWN=FAQWHNQ[G)K$V>W53TW:IR91Q+2?FO13DWYJDH8+_-3DMS,U^3,+%U%R M;Z2PN4YY`K(!B;I&^^+VG]R[T1/3<]B_3(_"/D;4]==-]9=9M`RS%]/D.&!' MF-,^6-3EU0V.:S9/D\40>G66A`G6P44]M?SC\R-+HAY.4)[2&->Y2?&\I-0MYN%R8@>K2:DJ&>:JR#2 M>+5,SL.E&D\#[.@SVP&+>M;YE_`Y6JZ6)ZOE*BZ?G'*B06R3?\\NN$J[N..J MCK^D^#=UKA*^85EZ3MBP`:CGIUNQ%0^]R82!91QT1`4<]>SU&E,'R=FRW,7P M(KE<9?.',&?YP"=DTWN0=="F#4$]Y[W&>%K/0VW^(AM6DJQSAL%'/37>@LS\ M"H-+..>"M=<7SEGS_2?V(KEB4?+$\H(M3J.G:,&2A0@MK(4:+'YYP^W(.NT- M;4(]^/Z*+=BR'(#S$:,`T?Z@SB)"EO3\`,*5%*-HXS4D$*GD:6R)0]&]'Y_Y M&""Y9[:>"=C1(Q0`*\E%$<`='&8ZB1/84H8I:X_G\W25%+4#C_.<%6K@&K2D M1RD(5U*,*5!;)#9BG:"S)1%%9*Y/`^D&7EH+>D1J838Y6BAAET"W/PT[0U)K27A?KET1L\'`Q\ID1H]< M,]95SNM-RYX2Q[BN8LF-X&H`>'%Z/G MT>'8AWB8_)9EW>9>9-?1,HK#[#Q--O*QK2!M+]O02U^B:,R3=/F8)KQ-03F\ MD.]LHQL&V--C?P!H23J*]FSP3#'4:U0P0;H0[Y.A]1_SH?S_^UBCBR3ZMD(3Y+?$!B==[`,O1<.1!XLX(! M,8_,S+8;U+[R`=DEO\*2]Y-?PTC$JK(K%BUO5UE>JC&COX84H.>_(:BESU"D M_#DKK(^&P88>NP:@DE"4N*?=P^(@IXN[&Y8MHR34S/F]Z@[TG/&J9DA7X>QC MEF;%71I'Z0UO0LIAZ3.TS6;T2#=CE;YE>L M9NE#6CQ\"?.""Z]R1F[1R]L95H0L^Q;>)AF;KS*Q MM,&8@[912;J^&`1?N@1%CJ[%%L[9[^+Q_!"6ZX$^YD6TY'H#C)P8B]!SPC#< MDGV""#]03;C1-F]F]-'/$ M2[-A7MIWT$M[=B_M.>*EO=83F+*W`R'8L;(9[+C!IL`IV<34H?++GK8KSC<= MR%B*4F??AE]Z!5.K:J`-'^P`I5SRA7X0=#""&NVB&C`@TIF[1+S$+!D?0:[V MX,"#&YVYP^Q?]M&[O M*CTV>Q`E?2AZ4M9NU3N0(5U2`2US@*(P)9`F0_PD3>:\29ENV8S-F"[/)L22 M:Q3=**":3WDA_`I8@]><)HU%F?71-QG1)!)XY`]15)P`81UEF8QH<@J,J`Y1 M=)H`81E'Z4UH\FD<,QWB;&S+(7Q.<_8E3=B+AL;.-9K\=0!*XG"VJQ7OES19 MB#6A>707L<4U9V2E)LN8S6C2J<A0U5;[;M=&) MM2LTJ52C#(HA_L!%_.[LTXJW!>CN0!'2]`.X)?LHXE".;>'QN@.#\]Y( M'$4?RMJMPW#(D"ZIT.'3.Z@2LWY6ZA6>Y?EVG]-PH;Z9[>9TR39C;BA'49?' M2;(*XPJO?JI-:T&/6"W,ADL4`;D&P30'9S(BSJCF?.\=%)'717'&OZ6E9T_[ MFQL"=K2I5<`V[*((O2Z0@']%`5*KR[2YK#`V%*(H-Z5^-8^_?YD\A4&'0IS] M8-;KG\(43AV@<-JA$$58*?6K:QOZE\E3..M0B**.E/IW80IW':!PMT,ABD)2 MZE?7>_0ODZ>P7<\1!"@:2*E_'Z9PWP$*]SL4HFL:7O\!3.&!`Q0>="A$ES*\ M_D.8PD,'*#SL4(@N7'C]1S"%1PY0>-2A$%V=\`9!ZJ2Z3)O""F-#(;HZX?5# MZJ2Z3)["CCH)T-4)KQ]2)]5E\A1VU$F`KDY$@V`*R:N3"F-#(;HZX?5#ZJ2Z M3)["CCH)T-4)KQ]2)]5E\A1VU,D479WP&B%U4ETF3V%'G4S1U0FO'U(GU67R M%';4R11=G?#Z(752729/84>=3-'5":\?4B?59?(4=M3)=`1UTMMJHW^9.H6= MK32"Z0CJ)(#52>"`.@DZZF0Z@CH)8'42.*!.@HXZF8Z@3@)8G00.J).@HTZF M(ZB3`%8G@0/J).BHD^D(ZB2`U4G@@#H).NID-H(Z"6!U$CB@3H*..IF-H$X" M6)T$#JB3H*-.9B.HDP!6)X$#ZB3HJ)/9".HD@-5)X(`Z"3KJ9#:".IG"ZF3J M@#J9=M3)#$6=R%Q=Z^XSD"$]6B&T#<$HVD4BL6Q%8S:C2ZYQ2YI@AJ)I)(XK M%N9I5IB`5C";]'S:EQR^,MZ$9 M1?.9L`RDV"5Z.]2B:,&?H_L'EA?_N>)86!:_F-\,H"4]@D&X#<16+"B#8BW3W".V2CB-'/Z>_#7B20(3V2(;0-P:AB5(L( M>(L`]O3H'@"Z81U5IVH!;<*XBDQ4075V<>*/7W+?.Z1^2`'ZW.M0-\2C",>R[O/TE"U6 MP>?#BM`C?QCNAG[L#0O+#O$+!U(/5C\Q#B2,K_K# MEJ&%Z+E@*/+&"=B;$):HRDU=8O84)L5-RKO%:7V2K,4-YF+T'6'&WK@">]?" M$M=%PLKIX8N[XSL^\.+(KA_2W]51Y>!2]!UAA-[X`7LOPQ(6?TG&85+15>,J MG]O,X@F@''U?`.`;;V#O>5@]K1ML(FPL0)]_:#>S/11IJR)JXNU5L%&_PZX, M:;TN2(M3)7WG?YUV-]UG%+UNS4(94L`AU^F>VU$$O24[Q6Y.GW1SMLH^3N+N M$Q^^W[,!FQ$"AO1HAM`V!..D]6J0&'LXZR;[@,`=>JWF3G!N MV*]W'T44=HY"O&9/C&-X^7O$XH5^M&RUID>X%7+#-XH6-,(Q#9Z'%'"(=0)&,-P]15KS`7TF##3V`;1E%DH@+"]!TTFY'G5??- M0]&(ZSAT7SJM!75"U:\:BB)A-ZQ.IQRM.[4:)VS;I/S=2#>I$> M@2K"YFCOEKJ?WG?1?N8EJY_57]<:P9X+EBS:]+->,_+'19;_.$^7[TO\I^E\ MM>1W:]%>KY;+,'OY)2FY9(OKR].KJU6>LS@6&UI_3G__6QKSRL79DA]O/C6- MB@I1$[?8F0:3=Q-Y8_ZGN/?[ZN:3^NZ3/YK[_\DM1!V3NI*)J&7"JYFT]4Q$ M15C]J8R0&CM4??7KORTD@9T,!OG3\7.DYME:K<=X!`RVO.WE MD_8OC\&1SH&"H#ZZM>>2(ZRRJ#]7C3$B**M_8MEMFC,UA>"K)TA]86&^RICF MN389$7N\33!K7V"OXZ@Q:!]WL]DHG(*=0$^M\C;`R<>IDZ]9?I&<"G42W:X$ M/;GVE6&UIDFU%?:6/UJO8_PX692+!#=C7BWEF`=4^+4GMC+; M6?>J-II1>UD;@6*RVM:M?4WW+X_+HM[UY0BDA[2F\34SM,`P[80/=(+I;'8P MTS[Y_LCK0D[H#YD,T\^U4[0&1![^G40WZ`K7O?/,?LU*AZNV((MR]@SZ(U-"M)SQR;HI9Q!>3C6@9VGK_(&5(RZ+R#LTA.H M.[&"O)N,Z+%L0BJ'UJ/LIC!TT1UI9@&PDER-6`Q`SR7]S^DVN#Z,FP>5G_,CT&^Q@UH?ZO3^!E%HFXN^FY M!^P(4]H'VX144,F]9O,T60RA5V=)F&`=W.8,7\31K_[Q5R_2(U)%V![>B\>= M=?\7P(XLH]!N+R@#5V7^1)]I;C*B1ZL):;O_/\;[5)T(T;-J-J/'JQEKN^$& MALQ*L^(NC:/TAN-,GUAFV`S6:$:/63-6&?M$^4#U8!@5+&#H`+O]]RS.X7KU M)O:OTV.Q!E/3AS#O7M5N_DY`A75*!;^`, M960B8)KC]82[Y1H\21E*AIJHV=H=348TB82Z(+82<-#BE`C^DAJ"7OV*<5;'*RBQOO7@O@9M47 MZFG'8&]VH.NJ_13G)'19N[630H9T286Z)\K4NP1B'25`AG3Y!48+N(>=6T8, M9C.ZW!I'#C@GFW]W!Q/CG&?NSWWK=>=QCWW[;L_M&N<4Z._YV*ZUXY]1]@V\ MGC^PQ2IF2N+H*S8+G(K]_^J[B3_;&T[$'2=_#-L>\,]O;7_`3=*/#8O\C5;$ M5OH;<8ZXW-^XTS5@-P:MEIZ@2^[N;WB-M!SQ.5JNEB>KY2HNO]CE/CE50M[% M$\LNQ+&:>P!H>94Q=81%YU5[_NC^?S=)44M1>/\YP5ZD:MH"517D', MJ&OM>DAL[+K#*?*ZN76(NK&9UH(HFUJLVUXVYT]W\:>[^--=R'5,?[J+/]WE M31SI'.A/=Z'R>/O375[+J3_=A0[5_G07LA[PI[ML\67M3W?9G$5_NHL[I[N@ M)N(!YTF\(BEOMIZ45]U\(NX^:6X_D??W*7J#=K,T).D!=L1>V`!2S$2]_IZ: MIE0]T'(,TEXS\1?5J&T\)8?`2B M-..O+RYOE'P\PHJ^.V(5`U:6/45S%DQO`]"/PXN1]>OP)@SP)ANYVE;0"6?;&H&:#WB2+A_3A#C!TUWZ_!,]N0>[,]?>[-V''WSA_$N'L\&Q$/^8#O4?^`'\__ MM8HX,B&LRW2%9&'UX<`R9#TZ$/\0_^Y3]Z_5F4YY[K5N>LU\6I$688SC)-X) M?PTCD4R=7;%H>;O*\E(:&ITVI`!9)PX!CYH.>9^22S3?-N?)(9&M4^R8RL!WR2F4\R(YHSY9/, M-B3LVTHR6S])Y"8+D[SHE5B_A6PR M3*4O0.S%/@3R>$&M+IZ- M`EQPP?$G.Z'.!+N%4A"LBVM`0$QG[K(K9!LPCSVRH($#73ISYQTP0S[RR`(' M#F#IS)WWP+A!+A6.)>"E,W?=`SXHYH-B/BCF@V(^*.:#8CXHYH-BV^;3!\5\ M4&PK(1D?%!O;`SXHYH-B1&,\/BBV(6'?5E"LVK+[1FRC=,6*59;8M@'_$&;B M\-EVGJ03"MO7;@=>WGQ2WWTR+.0U^6]9S_]\5\$OV>JR-D.\RV!#[#5M0(D9 MU:KZ7]7Q3D+=J:Y:BS&(!/U>#BUT2#%C4&L`3.%`DQ%]2ON1/93`4A?#&1]8 MEHX]#0N(6,6./+<*7M2P41='<'2D!BGZE\FS6<%$C?PHU:OAYOYE%T@,MA^\ MV83$*4SBU`T2.\L><685UJM7X^[]RRZ0V`FEHTA7I?I=F,1=-TC<5;=SQB51 MS3_H7W:!Q$Y*P6O4_UM)W(=)W'>#Q'UU1V-<$@]@$@_<(/$`>7=AI?I#F,1# M-T@\W/Y6PIN0>`23>.0&B4>=2!4VB6)R#""QNDR>Q`JF)!%=L?#J(<5277:! MQ%:Q3-$5"Z\>4BS591=(;!7+%%VQB";!)+J@6"J8DD1TQ<*KAQ1+==D%$EO% M,D57++QZ2+%4EUT@L54L4W3%PJN'%$MUV0426\4R15DBQ5)==(/&HD^F%3V)O(4C_L@,D=M9VS$90 M+`&L6`(W%$O0*I;9"(HE@!5+X(9B"5K%,AM!L02P8@G<4"Q!JUAF(RB6`%8L M@1N*)6@5RVP$Q1+`BB5P0[$$K6*9C:!8`EBQ!&XHEJ!5++,1%$L`*Y;`#<42 MM(IE-H)B"6#%$KBA6()6LKT?UJ=+\:W:]&)^L!OQK=KT8GNKC: MKT;?D+!O;#4Z1Q#>:Q:EOVF'Y@-E67I5B7YYNM^?V?HM[?JHHLVP4!VT)/8> M![&B+EKO`ZF?1QNWJM)")'9`GS"07(-&71Z'=1AFP%T3%.(#VN?^6\JQ/<:TGR(SX?X M1@OQX2+/W=A?A00MC??HCO-31^UR&^ M79="?%(.7D7Y;]7,QBDKPBC^)2D=\JK`WN'DW43>E_\I;OV^NO>DNOGDC^;V M?P[<>?I;B^7Y"1X_P>,G>,AU3)_#[7.X_03/]SK!XW.X?0[W-S3!XW.XJ4SP M^!QNG\,]]GR%S^'>U@3/MG*XOUJ?;2=S#"G`.@-B3[\.(F:H2)T0*P'>L.?B M`[__;T8^]<9C<&ON!.OTZA%K,G]QYB.C?!ZGXINK(CP-B_!CS,34ANTP/-VD MY)&8E&QNKI^6%%5,_I"5^*E)/S7IIR;]U"21CNESSWSNF9^:_%ZG)E'F_=2D?6H214S[J4D_->FG)OW4I)^:W"Z'/[-P$27W1@J; MZY0G(!N0J&NT+V[_R;T;/3$]A_W+]"CL8T1=?]U4?YE%RS![,4V.`W:$.>V# M15U>W>"X9O,T60RA5V=)F&`=7-13RS\^/[(D-SS_ZD5Z1*H(40\KKRL_#[,L M%,XT=4[`CBRC.K"HAYB7X[Z'-.95?F(L/PEUNUF8C.C1:D**>J:Y"B*-5\OD M/%RJ\33`CCZS';"H9YU_"9^CY6IYLEJNXO+)*2<:Q#;Y]^R"RXN+.RY'^$N* M?U/G*N$;EJ7GA`T;@'I^NA5;\=!3P0/+..B("CCJV>LUI@Z2LV6YB^%%XWQM)Y`V?Q%-JPD6><,@X]Z:KP%F?D5!I=P MS@5KKR^YSDKU,`U:$F/4A"N MI!A3H+9(;,0Z06=+(HK(7)\&T@V\M!;TB-3";'*T4,(NCTS,_2;W]5RP8?+5 M;$:/5#-6R2Q.M+`'PS0%"UJZP&]_&G:&I-:2\+Y#EJ2CJ-<&SVQ#TLWVA$DW@Y:DH^C9 M850[1+`1ZI"O\Q'UK_/Q_%^KB"/[M$H6XK/$!R16YPTL0\^5`X$/<.SN#G7' M6KWHALM>ZQ_R*S=Y__LUC$0,++MBT?)VE>6ERC/Z:T@!>OX;@EKZ#&6*X)P5 MUD?#8$./70-022A*/-7N87%`U,7=#6P])G?9C-ZI)NQ2F9QEG>J,$SIX)"A`^SV$\)W4?1S#\A5_X`] M@XT#K%YU3]#;1='&]6?C4YH625JPW+)\06='CU@`K"0710/+;[+,8ZNRHFP< M`^9DJ08P2\91`L`2SI7(D[BXZV1,6%F'B]!E'L;=K,9%9/]#QL+?'M,H*<0V MQYE>L9NE# M6CQ\"?.""Z]RIF_1RP<:5H0L^Q;>)AF;KS*Q9,*8 MV[912;J^&`1?N@1%CJ[%+,[9[^+Q_!"6ZXP^YD6TY'H#C,@8B]!SPC#""#]03;C1-F]F]-'/$2[-A M7MIWT$M[=B_M.>*EO=83F+*W`R'8L;(9[+C!IL`IV<34H?++GK8KV3<=R%B* M4F??AE]Z!5.K:J`-'^P`I5SRA7X0=#""&NVB&C`@TIF[1+S$+!D?0:[VX,"# M&YVYP^Q?]M&[O*CTV M>Q`E?2AZ4M9NU3N0(5U2`2US@*(P)9`F0_PD3>:\29ENV8S-F"[/)L22:Q3= M**":3X\A_`I8@]><4HU%F?71-QG1)!)XY`]15)P`81UEF8QH<@J,J`Y1=)H` M81E'Z4UH\FD<,QWB;)C+(7Q.<_8E3=B+AL;.-9K\=0!*XG"VP17OES19B#6A M>707L<4U9V2E)LN8S6C2J<4H$FU%;:D'D5-E>]V;71B[0I- M*M4HPR&*0"IK-FV;J5XD2EQ_<\Q#-,&C88PJ3PT[1RC:YD.8B36LQ7&RZ!PQ M79Y\JE>)0PK08W8(:LD[BO[IH+!*2XLM/;8M@"71***H@^4L*?\2])S%\2HO MIV7ROX59%-Y&<52\7-Q5;>H=3_ZZ>Y!VS"8-D0Y#T5T=C!=)F?%RD7UF.>`3 MQ8PT[0I6R2S./C@MC./%(JHRYJH1^%FR8,]FA@WFI)DV8):,X^R/TX'S%$9Q M_6A=/G#M`[#=-Z7-=!^O9!EGEQP]E%_9[754B'Z0@:\/J(PSO*O`I0-0%%T' MTV68%Z=IN7J(/W`1OSO[M.)M`;H[4(0T_0!NR3Z*.)1C6WB\[L#@O#<21]&' MLG;K,!PRI$LJ=*CU#JK$K)^5>H5G>6[>YS11U49SQ;VGIV=/^YH:` M'6UJ%;`-NRA"KPLDX%]1@-3J,FTN*XP-A2C*3:E?S>/O7R9/8="A$&<_F/7Z MIS"%4P/V0.JDN MDZ>PHTX"='7"ZX?42769/(4==1*@JQ/1()A"\NJDPMA0B*Y.>/V0.JDNDZ>P MHTX"='7"ZX?42769/(4==3)%5R>\1DB=5)?)4]A1)U-T=<+KA]1)=9D\A1UU M,D57)[Q^2)U4E\E3V%$G4W1UPNN'U$EUF3R%'74R'4&=]+;:Z%^F3F%G*XU@ M.H(Z"6!U$CB@3H*..IF.H$X"6)T$#JB3H*-.IB.HDP!6)X$#ZB3HJ)/I".HD M@-5)X(`Z"3KJ9#J".@E@=1(XH$Z"CCJ9C:!.`EB=!`ZHDZ"C3F8CJ),`5B>! M`^HDZ*B3V0CJ)(#52>"`.@DZZF0V@CH)8'42.*!.@HXZF8V@3J:P.IDZH$ZF M'74R0U$G,E?7NOL,9$B/5@AM0S"*=I%(+%O1F,WHDFO.*A7F: M7#.19TJK&L:AK>*HVY9_2K$1[GA87)=[%67*9I?DC;TAO(YT-RU)VUZ`&-)Y! M$7!BM>Y-*K*X*WCU>1!K'C#8T&/:`%0RNHNZ'D@%HTG_ATWI\0OC;6A&T7PF M+`,I=HG>#K4H6O#GZ/Z!Y<5_KC@6EL4OYC<#:$F/8!!NPS&*6&P6A6HA`>\* MJ``]QH>@;HA'D9@PHHU(=X_P#MDH8O1S^ONP%PED2(]D"&U#,*H8U2("WB*` M/3VZ!X!N6$?5J5I`FS#N'-L=IE&$X[!-VQS:JAS;@`N/;"'(A-54)U=G/CCE]SW#JD?4H`^]SK4#?$HPK&L^SP]98O57-#S M*BX8BKQQ`O8FA"6J`(H1]\7`/C&&]A['E9/ZP:;"!L+T.'L5;-3OL"M#6J\+ MTN)42=_Y7Z?=3?<91:];LU"&%'#(=;KG=A1!;\E.L9O3)]V";15TPSK.NLD^('"'7JNY$YP;]NO= M1Q&%G:,0K]D3XQA>_AZQ>*$?+5NMZ1%NA=SPC:(%C7!,@^P0QZ*L&MJMWZM0$O"M()?IFTIN06+*I+Y M'RK+_*=_?$R*J'BY8O>10)H4FM>HWH0>L7J<\O1NE*A=L^Y3,_6@7J1'H(JP M.=J[I>ZG]UVTGWG)ZF?UU[5&L.>")8LV_6RM&2J[90M:G*>L"*.8XPD;I%$A MBN_L[O#_3=Y-3J-\'J?Y*F/\/T3!]U7)255T(LI._O@8LR4'F/_YP]?M`F:& M.Z>YJP;^,=_68XYS&OHW^9AO2XW:NN)I.E^)1_$D8Z%AEE9O0H])/W&CVS!G_#_^/U!+`P04````"``:>.M"*4I\9F$%``"B,@``$P`<`'-P M9')S="TR,#$S,#8R,"YXQE%S`4:.I_P\AE!H2SL-_B)(A7#"E.16:8KC[$S'/M@V#=.^QCT`A,<7J M"OE8!LC%`^M>J:#G.(^/CPT9>$(V7.X[[6:KTSQL&X7PYN(-AG8BQA4+FD\>$8)^YZ%W>IV MNTYT-QWZ:N1L+&CJ1\,9[W4O1&>0!16SP`.+$G\ M@!HGHFOW`D_TM6@&[72NO@4"-[23Z2!%%-66UP)+G;6(&X;ZAOP`B,Y'"4[Q MEO#-;2=8@A@N'$PAD'!?H;Q*CP;A`1:*8+F4`Z?"\%U$,\(_0=0-:9GHW07" M^PW>PY.,X/5C2A@I$;LW!WB_H5,TS@A]B,:8%HR:&MNW#=C@W.H0P1Q\'5UL M6`OX&=-A/EWH]4/XD3(M()[.]RXCYYZDOBR2?-R,_L"&%&'Y M4*-!#`=+>'UG'60=/Y38^\*.H^/UI22Q3H9LLUQ[#' M"7S/J8?%.<9R)PD4M,W->]ND,L$VAPMX,/CPO%NF7^I49Z;Z-_U^B.AYR+PO M>AO0;K/IV2S`3.Z9]A(XN1+HK$H@I@+#!7,R2-G>2!"%TUI<2?^-())Y/)LA M\RYS*Q"3`9<[[@-E07*E\'%5"@D/)$3PO*!ZJ5>&*H5PQ4?8PWY@O*A$%,4` MI:5`I$NY#`5>3^,I4N@L+N7O]D52#52N*+I& M%'.J;%D80GA.*6MI5+1*;*DMM:LI467"Y$FB7:Y$U:[54$F):K,$"MKFYGW? M$M6&3->O!V5*5/EI+X&3*X%R):I:$%67J/+54!0D5PIE2E2U$-ZR1+6O*(H! MY@JDPA)5K9?J2E19R2Q0HMH*DZN-`B6J#1JH2U35EJAV>+\HCY>KC\I*5/7* M47F):I]OSSU1T3 M/^!"`U"A"6QVYCR!T<(TQK=MILM;;_1A2P3_6LO3`M0>YCLS9W:F(.]V?-; MJW=*P;+E56QH!.UH.):*J-"X^;O@83"PHL;S'M%#+$#ZKD"N&E@3 M1(VV&*%Z;S&MIDJ$IO\U&AQHY[EW&Q%YH4@:/S.=/XDZO3J=HW:&\Z]OOB_G MYY-[L&WF#]ZG\_/)[6R;^`L``00E#@``!#D!``!02P$"'@,4````"``:>.M"R]O5 MGOD"``#L$@``%P`8```````!````I($X&````L``00E#@``!#D!``!02P$"'@,4````"``:>.M" M'WTN?==%``#=_`8`%P`8```````!````I(&"&P```L``00E#@``!#D!``!02P$"'@,4````"``: M>.M"".I?`L``00E#@``!#D!``!02P$"'@,4```` M"``:>.M"0KE/FH,Z``#`L``00E#@``!#D!``!02P$"'@,4 M````"``:>.M"*4I\9F$%``"B,@``$P`8```````!````I(%;P``` EXCEL 18 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\P9C(X8F8R.%\S.&0U7S0T-C%?8F5A.%\S83AF M,V0W9#$P9F$B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/E)I#I7;W)K#I%>&-E;%=O#I!8W1I=F53:&5E=#XP/"]X.D%C=&EV95-H965T/@T*("`\ M>#I0#I%>&-E;%=O7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA'0^2G5N(#(P+`T*"0DR,#$S/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^2G5N(#(P+`T*"0DR,#$S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE M860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT M96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^4U!$4B!2=7-S96QL(#$P,#`@3&]W(%9O;&%T:6QI='D@151&/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^1E5.1"!354U-05))15,\ M8G(O/CQB6QE/3-$)U!/ M4TE424]..B!R96QA=&EV93L@0D]45$]-.B`P+CAE>#L@5D525$E#04PM04Q) M1TXZ(&)A2!I9B!Y;W4@8G5Y(&%N9"!H;VQD('-H87)E6]U(&UA>2!P87D@;VX@<'5R8VAA'!E;G-E6]U2!N970@87-S971S(&UA>2!B92!M861E.R!H;W=E=F5R+"!T:&4@ M0F]A6UE;G1S('=I M;&P@8F4@;6%D92!T:')O=6=H('1H92!N97AT('1W96QV92`H,3(I(&UO;G1H M'0^/&(^15A! M35!,13H@/"]B/CQS<&%N/CPO&%M<&QE(&%S6]U6]U M'!E;G-E($5X86UP;&4-"@T*#0H-"BA5 M4T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@("`@("`@/'1H(&-L M87-S/3-$=&@^645!4B`Q/&)R/CPO=&@^#0H@("`@("`@("`@("`@(#QT:"!C M;&%S'0^/&(^4$]25$9/3$E/(%154DY/5D52 M.B`\+V(^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^5&AE M($9U;F0@<&%Y2!I;F1I8V%T92!H:6=H M97(@=')A;G-A8W1I;VX@8V]S=',@86YD(&UA>2!R97-U;'0@:6X@:&EG:&5R M('1A>&5S('=H96X@1G5N9"!3:&%R97,@87)E(&AE;&0@:6X@82!T87AA8FQE M(&%C8V]U;G0N(%1H97-E(&-O6QE/3-$)U!/4TE424]..B!R96QA=&EV93L@0D]45$]- M.B`P+CAE>#L@5D525$E#04PM04Q)1TXZ(&)A7,@82!S86UP;&EN9R!S=')A=&5G>2P@=VAI8V@@;65A M;G,@=&AA="!T:&4@1G5N9"!I"X@26YS=&5A9"P@=&AE($9U;F0@;6%Y('!U"!I;B!A;B!E9F9O2!E M>'!E8W1S('1H92!&=6YD('1O(&AO;&0@;&5S2!A;&PL(&)U="!A="!L96%S="`X,"4L(&]F(&ET'!O2X@5F]L871I;&ET>2!I2=S('9A M2!T:&%N M('1H92!O=F5R86QL(&UA"P@=VAI8V@@;65A'!O2!S96-U2X@56YL:6ME(&UO"!02`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`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^2G5N(#(P+`T*"0DR,#$S/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S2!%5$8\+W1D/@T*("`@("`@("`\=&0@8VQA2!%5$8@/"]B/CQS<&%N/CPO2!%5$8@*'1H92`F(S@R,C`[1G5N9"8C.#(R,3LI M('-E96MS('1O('!R;W9I9&4@:6YV97-T;65N="!R97-U;'1S('1H870L(&)E M9F]R92!F965S(&%N9"!E>'!E;G-E'!E;G-E(%M(96%D:6YG73PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'!E M;G-E($YA'!E;G-E3F%R2!I9B!Y M;W4@8G5Y(&%N9"!H;VQD('-H87)E6]U(&UA M>2!P87D@;VX@<'5R8VAA'!E;G-E'0^/&(^04Y.54%,($953D0@ M3U!%4D%424Y'($584$5.4T53(#PO8CXH97AP96YS97,@=&AA="!Y;W4@<&%Y M(&5A8V@@>65A'1";&]C:SPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^5&AE($9U;F0@<&%Y2!I;F1I8V%T92!H:6=H97(@=')A;G-A8W1I M;VX@8V]S=',@86YD(&UA>2!R97-U;'0@:6X@:&EG:&5R('1A>&5S('=H96X@ M1G5N9"!3:&%R97,@87)E(&AE;&0@:6X@82!T87AA8FQE(&%C8V]U;G0N(%1H M97-E(&-O&-H86YG92!4'!E;G-E17AC:&%N9V54&%M<&QE(&)E;&]W(&1O(&YO="!R969L96-T(&)R;VME2!O;B!P=7)C:&%S97,@86YD('-A M;&5S(&]F('1H92!&=6YD)B,X,C$W.W,@4VAA'1=/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$=&@^'!E;G-E'!E;G-E($5X86UP;&4@6TAE861I;F== M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'!E;G-E($5X86UP;&4@3F%R&%M<&QE3F%R6]U65A'!E;G-E2!B92!H:6=H M97(@;W(@;&]W97(L(&)A4AE861I;F<\+W1D/@T*("`@("`@("`\=&0@8VQA M2!P=7)C:&%S92!A('-U8G-E="!O M9B!T:&4@2!T:&4@"X@5&AE('%U86YT:71Y(&]F(&AO;&1I;F=S(&EN('1H92!& M=6YD('=I;&P@8F4@8F%S960@;VX@82!N=6UB97(@;V8@9F%C=&]RF4@;V8@=&AE($9U;F0N(%-39T$@1G5N9',@36%N M86=E;65N="P@26YC+B`H(E-39T$@1DTB(&]R('1H92`B061V:7-E2!S96-U2!T;R!A8VAI979E('1H92!&=6YD)W,@:6YV M97-T;65N="!O8FIE8W1I=F4N(#QB2!I;G9E2X@26X@861D M:71I;VXL('1H92!&=6YD(&UA>2!I;G9E"P@8V%S:"!A M;F0@8V%S:"!E<75I=F%L96YT2!M87)K970@:6YS=')U;65N M=',L('-U8V@@87,@2!M M87)K970@9G5N9',@*&EN8VQU9&EN9R!M;VYE>2!M87)K970@9G5N9',@861V M:7-E9"!B>2!T:&4@061V:7-E2!I;B!T;W1A;"!R971U2!I;F1E>"!I2!E>'!O"P@=&AE($EN9&5X('-T87)T M6QE/3-$)U!/4TE424]. M.B!R96QA=&EV93L@0D]45$]-.B`P+CAE>#L@5D525$E#04PM04Q)1TXZ(&)A M2!T;R!D96QI=F5R(&9O8W5S960@97AP;W-UFEN M9R!E>'!O"!C M;VYT86EN2!M87)K970@:6YD97AE2!M M87)K970L('1H92!);F1E>"!I2`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`@("`@("`@ M/'1D(&-L87-S/3-$=&@^3PO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^07,@=VET:"!A;&P@:6YV97-T;65N=',L('1H M97)E(&%R92!C97)T86EN(')I'0^ M/&(^1E5.1"!015)&3U)-04Y#12`\+V(^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0@0FQO8VM= M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^65T(&-O;7!L971E9"!A(&9U;&P@8V%L M96YD87(@>65A"X\'1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^2X\'!E;G-E&%M<&QE665A&%M<&QE665A6UE;G1S('=I;&P@8F4@;6%D92!T:')O=6=H M('1H92!N97AT('1W96QV92`H,3(I(&UO;G1H3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R M=%\P9C(X8F8R.%\S.&0U7S0T-C%?8F5A.%\S83AF,V0W9#$P9F$-"D-O;G1E M;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&8R.&)F,CA?,SAD-5\T-#8Q7V)E M83A?,V$X9C-D-V0Q,&9A+U=O'0O:'1M;#L@8VAA2!%5$8\'0^/&(^24Y615-4345.5"!/0DI%0U1)5D4\+V(^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`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`@("`@("`@("`@/"]T'0^5&AI&%M<&QE(&ES(&EN M=&5N9&5D('1O(&AE;'`@>6]U(&-O;7!A6]U2!%5$8\ M+W1D/@T*("`@("`@("`@("`@("`\=&0@8VQA'0^/&(^4$]25$9/3$E/(%154DY/5D52.CPO8CX\7,@ M86YD('-E;&QS('-E8W5R:71I97,@*&]R("8C.#(R,#MT=7)N&%B;&4@86-C;W5N="X@5&AE'!E;G-E'0^/&(^5$A%($953D0F(S@R,3<[4R!04DE.0TE0 M04P@24Y615-4345.5"!35%)!5$5'62`\+V(^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^26X@7,@82!S86UP;&EN9R!S=')A=&5G>2P@=VAI8V@@;65A;G,@=&AA M="!T:&4@1G5N9"!I"X@26YS M=&5A9"P@=&AE($9U;F0@;6%Y('!U"!I;B!A;B!E9F9O2!E>'!E8W1S M('1H92!&=6YD('1O(&AO;&0@;&5S2!A;&PL(&)U="!A="!L96%S="`X,"4L(&]F(&ET2!I;G9E2!T;R!D96QI=F5R(&9O8W5S960@97AP;W-U"!C;VYT86EN2!M87)K970@:6YD97AE M2!M87)K970L('1H92!);F1E M>"!I2`H(E)U"!A;F0@<'5B;&ES:&5S(&EN9F]R;6%T:6]N(')E9V%R M9&EN9R!T:&4@;6%R:V5T('9A;'5E(&]F('1H92!);F1E>"X@07,@;V8@2F%N M=6%R>2`S,2P@,C`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`@ M("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^2G5N(#(P+`T*"0DR,#$S/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S2!%5$8\+W1D/@T*("`@("`@("`\=&0@8VQA'0^/&(^24Y615-4345.5"!/0DI%0U1)5D4\+V(^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^ M51E>'1";&]C:SPO=&0^#0H@("`@("`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`@("`@("`\=&0@8VQA M'0@ M0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^&%M<&QE(&%S&%M<&QE(&%L6]U'0^/&(^5$A%($953D0F(S@R,3<[4R!0 M4DE.0TE004P@24Y615-4345.5"!35%)!5$5'62`\+V(^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S2!);F1E>"`H=&AE("));F1E>"(I+"!T:&4@1G5N9"!E;7!L;WES(&$@ M2!P=7)C:&%S92!A('-U8G-E="!O9B!T:&4@2!T:&4@"X@5&AE('%U M86YT:71Y(&]F(&AO;&1I;F=S(&EN('1H92!&=6YD('=I;&P@8F4@8F%S960@ M;VX@82!N=6UB97(@;V8@9F%C=&]RF4@ M;V8@=&AE($9U;F0N(%-39T$@1G5N9',@36%N86=E;65N="P@26YC+B`H(E-3 M9T$@1DTB(&]R('1H92`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`@("`@("`@/'1D(&-L87-S/3-$=&@^3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M07,@=VET:"!A;&P@:6YV97-T;65N=',L('1H97)E(&%R92!C97)T86EN(')I M2!B92!D:7-P'1";&]C M:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^5&AE($9U;F0@:&%S M(&YO="!Y970@8V]M<&QE=&5D(&$@9G5L;"!C86QE;F1A65A2!S:&]W:6YG('1H92!V87)I86)I M;&ET>2!O9B!T:&4@1G5N9"8C.#(Q-SMS(')E='5R;G,@8F%S960@;VX@;F5T M(&%S65T(&-O;7!L971E9"!A(&9U;&P@8V%L96YD87(@>65A M'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E&%M<&QE665A&%M<&QE665A6UE;G1S(&]F('5P('1O(#`N,C4E(&]F(&%V97)A9V4@9&%I;'D@;F5T M(&%S'!E;G-E'!E M;G-E7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^2G5N(#(P+`T*"0DR,#$S/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M XML 19 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.8 HtmlAndXml 5 38 1 true 4 0 false 2 false false R1.htm 000000 - Document - Document and Entity Information Sheet http://www.spdrs.com/role/DocumentDocumentandEntityInformation Document and Entity Information R1.xml false true R2.htm 000011 - Document - Risk/Return Summary {Unlabeled} - SPDR Russell 1000 Low Volatility ETF Sheet http://www.spdrs.com/role/DocumentRiskReturnSummaryUnlabeledSPDRRussell1000LowVolatilityETF Risk/Return Summary - SPDR Russell 1000 Low Volatility ETF R2.xml false false R5.htm 000019 - Disclosure - Risk/Return Detail Data {Elements} - SPDR Russell 1000 Low Volatility ETF Sheet http://www.spdrs.com/role/DisclosureRiskReturnDetailDataElementsSPDRRussell1000LowVolatilityETF Risk/Return Detail Data - SPDR Russell 1000 Low Volatility ETF R5.xml false true R6.htm 000021 - Document - Risk/Return Summary {Unlabeled} - SPDR Russell 2000 Low Volatility ETF Sheet http://www.spdrs.com/role/DocumentRiskReturnSummaryUnlabeledSPDRRussell2000LowVolatilityETF Risk/Return Summary - SPDR Russell 2000 Low Volatility ETF R6.xml false false R9.htm 000029 - Disclosure - Risk/Return Detail Data {Elements} - SPDR Russell 2000 Low Volatility ETF Sheet http://www.spdrs.com/role/DisclosureRiskReturnDetailDataElementsSPDRRussell2000LowVolatilityETF Risk/Return Detail Data - SPDR Russell 2000 Low Volatility ETF R9.xml false false R10.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data R10.xml true false All Reports Book All Reports spdrst-20130620.xml spdrst-20130620.xsd spdrst-20130620_cal.xml spdrst-20130620_def.xml spdrst-20130620_lab.xml spdrst-20130620_pre.xml true true XML 20 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName SPDR SERIES TRUST
    Prospectus Date rr_ProspectusDate Jun. 20, 2013
    SPDR Russell 1000 Low Volatility ETF
     
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading FUND SUMMARIES

    SPDR Russell 1000® Low Volatility ETF
    Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
    Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The SPDR Russell 1000 Low Volatility ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a large cap, low volatility index.
    Expense [Heading] rr_ExpenseHeading FEES AND EXPENSES OF THE FUND
    Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock 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.
    Operating Expenses Caption [Text] rr_OperatingExpensesCaption ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment):
    Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER:
    Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock 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.
    Expense Exchange Traded Fund Commissions [Text] rr_ExpenseExchangeTradedFundCommissions This table and the example below do not reflect brokerage commissions you may pay on purchases and sales of the Fund’s Shares.
    Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates “Other Expenses” are based on estimated amounts for the current fiscal year.
    Expense Example [Heading] rr_ExpenseExampleHeading EXAMPLE:
    Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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:
    Strategy [Heading] rr_StrategyHeading THE FUND’S PRINCIPAL INVESTMENT STRATEGY
    Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock In seeking to track the performance of the Russell 1000® Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.

    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).

    The Index includes large cap U.S. equity securities and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 1000® Index, which measures the performance of the large cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 200 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 96 securities in the Index.
    Risk [Heading] rr_RiskHeading PRINCIPAL RISKS OF INVESTING IN THE FUND
    Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
    PASSIVE STRATEGY/INDEX RISK: 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's return to be lower than if the Fund employed an active strategy.

    INDEX TRACKING RISK: While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.

    INDEX CONSTRUCTION RISK: A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.

    EQUITY INVESTING RISK: 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.

    LARGE CAP RISK: Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies.

    LOW VOLATILITY RISK: Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.

    CONCENTRATION RISK: The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.

    TURNOVER RISK: The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.

    NON-DIVERSIFICATION RISK: 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.
    Risk Lose Money [Text] rr_RiskLoseMoney As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
    Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
    NON-DIVERSIFICATION RISK: 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.
    Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading FUND PERFORMANCE
    Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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’s returns based on net assets and comparing the Fund’s performance to the Index.
    Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history.
    SPDR Russell 1000 Low Volatility ETF | SPDR Russell 1000 Low Volatility ETF
     
    Risk/Return: rr_RiskReturnAbstract  
    MANAGEMENT FEES rr_ManagementFeesOverAssets 0.20%
    DISTRIBUTION AND SERVICE (12b-1) FEES rr_DistributionAndService12b1FeesOverAssets none [1]
    OTHER EXPENSES rr_OtherExpensesOverAssets none [2]
    TOTAL ANNUAL FUND OPERATING EXPENSES rr_ExpensesOverAssets 0.20%
    YEAR 1 rr_ExpenseExampleYear01 $ 20
    YEAR 3 rr_ExpenseExampleYear03 $ 64
    [1] The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.
    [2] "Other Expenses" are based on estimated amounts for the current fiscal year.
    XML 21 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
    SPDR Russell 1000 Low Volatility ETF
    FUND SUMMARIES

    SPDR Russell 1000® Low Volatility ETF
    INVESTMENT OBJECTIVE
    The SPDR Russell 1000 Low Volatility ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a large cap, low volatility index.
    FEES AND EXPENSES OF THE FUND
    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.
    ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment):
    Annual Fund Operating Expenses
    SPDR Russell 1000 Low Volatility ETF
    MANAGEMENT FEES 0.20%
    DISTRIBUTION AND SERVICE (12b-1) FEES [1] none
    OTHER EXPENSES [2] none
    TOTAL ANNUAL FUND OPERATING EXPENSES 0.20%
    [1] The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which payments of up to 0.25% of average daily net assets may be made; however, the Board has determined that no such payments will be made through the next twelve (12) months of operation.
    [2] "Other Expenses" are based on estimated amounts for the current fiscal year.
    EXAMPLE:
    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:
    Expense Example (USD $)
    YEAR 1
    YEAR 3
    SPDR Russell 1000 Low Volatility ETF
    20 64
    PORTFOLIO TURNOVER:
    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.
    THE FUND’S PRINCIPAL INVESTMENT STRATEGY
    In seeking to track the performance of the Russell 1000® Low Volatility Index (the "Index"), 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. ("SSgA FM" or the "Adviser"), 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's investment objective.

    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).

    The Index includes large cap U.S. equity securities and is designed to deliver exposure to low volatility. Volatility is a measure of a security's variability in total returns based on its historic behavior. A low volatility index is considered to have a lower return variability than the overall market and can be used by investors to adjust volatility exposure in a portfolio. To construct the Index, the Index starts with the Russell 1000® Index, which measures the performance of the large cap segment of the U.S. equity universe. The Index selects securities generally to deliver focused exposure to low volatility securities, while minimizing exposure to non-target factors. The Index contains no more than 200 securities and is reconstituted monthly to maintain its focus on low volatility. Unlike more traditional equity market indexes which seek to track the performance of a specific segment of the equity market, the Index is intended to provide a specific factor exposure. The Index is sponsored by Frank Russell Company ("Russell" or "Index Provider"). The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. As of January 31, 2013, there were approximately 96 securities in the Index.
    PRINCIPAL RISKS OF INVESTING IN THE FUND
    As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
    PASSIVE STRATEGY/INDEX RISK: 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's return to be lower than if the Fund employed an active strategy.

    INDEX TRACKING RISK: While the Adviser seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund'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.

    INDEX CONSTRUCTION RISK: A stock included in the Index may not exhibit the factor trait or provide specific factor exposure for which it was selected and consequently the Fund's holdings may not exhibit a lower return variability than the overall market.

    EQUITY INVESTING RISK: 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.

    LARGE CAP RISK: Returns on investments in stocks of large U.S. companies could trail the returns on investments in stocks of smaller and mid-sized companies.

    LOW VOLATILITY RISK: Although subject to the risks of common stocks, low volatility stocks are seen as having a lower risk profile than the overall markets. However, a portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels.

    CONCENTRATION RISK: The Fund may invest a substantial portion of its assets within one or more economic sectors or industries, which may change from period to period. The Fund's assets will generally be concentrated in an industry or group of industries to the extent that the Fund's underlying Index concentrates in a particular industry or group of industries. To the extent the Fund invests a substantial portion of its assets in one or more sectors, market or economic factors impacting those sectors could have a significant effect on the value of the Fund's investments. Additionally, the Fund's performance may be more volatile when the Fund's investments are less diversified across sectors.

    TURNOVER RISK: The Fund may have higher portfolio turnover than a fund that seeks to track a traditionally weighted index. A high rate of portfolio turnover could produce higher trading costs and taxable distributions, which would detract from the Fund's performance.

    NON-DIVERSIFICATION RISK: 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.
    FUND PERFORMANCE
    The Fund has not yet completed a full calendar year of investment operations and therefore does not have any performance history. 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’s returns based on net assets and comparing the Fund’s performance to the Index.
    XML 22 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 23 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
    Document and Entity Information
    12 Months Ended
    Jun. 20, 2013
    Risk/Return:  
    Document Type Other
    Document Period End Date Jun. 20, 2013
    Registrant Name SPDR SERIES TRUST
    Central Index Key 0001064642
    Amendment Flag false
    Document Creation Date Jun. 20, 2013
    Document Effective Date Jun. 20, 2013
    Prospectus Date Jun. 20, 2013
    XML 24 R1.xml IDEA: Document and Entity Information 2.4.0.8000000 - Document - Document and Entity Informationtruefalsefalse1false falsefalseDuration_21Jun2012_20Jun2013http://www.sec.gov/CIK0001064642duration2012-06-21T00:00:002013-06-20T00:00:001true 2rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 3dei_DocumentTypedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Otherfalsefalsefalsedei:submissionTypeItemTypestringThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".No definition available.false03false 3dei_DocumentPeriodEndDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.No definition available.false04false 3dei_EntityRegistrantNamedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SPDR SERIES TRUSTfalsefalsefalsexbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false05false 3dei_EntityCentralIndexKeydei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse000001064642falsefalsefalsedei:centralIndexKeyItemTypenaA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false06false 3dei_AmendmentFlagdei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsexbrli:booleanItemTypenaIf the value is true, then the document is an amendment to previously-filed/accepted document.No definition available.false07false 3dei_DocumentCreationDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No definition available.false08false 3dei_DocumentEffectiveDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date when a document, upon receipt and acceptance, becomes officially effective, in CCYY-MM-DD format. Usually it is a system-assigned date time value, but it may be declared by the submitter in some cases.No definition available.false09false 3rr_ProspectusDaterr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-06-20falsefalsetruexbrli:dateItemTypedateThe date of the prospectus.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Subsection a -Paragraph 3 false0falseDocument and Entity InformationUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.spdrs.com/role/DocumentDocumentandEntityInformation19