UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21145

SPDR^® INDEX SHARES FUNDS

(Exact name of registrant as specified in charter)

STATE STREET FINANCIAL CENTER

ONE LINCOLN STREET

BOSTON, MASSACHUSETTS 02111

(Address of principal executive offices) (Zip code)

(Name and Address of Agent for Service)	Copy to:
Christopher Madden Esq. State Street Bank and Trust Company One Lincoln Street/CPH0326 Boston, MA 02111	W. John McGuire, Esq. Morgan, Lewis & Bockius, LLP 1111 Pennsylvania Ave, NW Washington, DC 20004

Registrant’s telephone number, including area code: (866) 787-2257

Date of fiscal year end: September 30

Date of reporting period: December 31, 2015

Item 1. Schedule of Investments.

Quarterly Report

31 December 2015

SPDR^® Index Shares Funds

TABLE OF CONTENTS

SPDR STOXX Europe 50 ETF (FEU)	1
SPDR EURO STOXX 50 ETF (FEZ)	2
SPDR EURO STOXX Small Cap ETF (SMEZ)	3
SPDR EURO STOXX 50 Currency Hedged ETF (HFEZ)	5
SPDR S&P International Dividend Currency Hedged ETF (HDWX)	7
SPDR MSCI International Real Estate Currency Hedged ETF (HREX)	10
SPDR S&P Emerging Asia Pacific ETF (GMF)	15
SPDR S&P Russia ETF (RBL)	24
SPDR S&P China ETF (GXC)	25
SPDR MSCI China A Shares IMI ETF	31
SPDR S&P Emerging Markets ETF (GMM)	39
SPDR S&P Emerging Markets Dividend ETF (EDIV)	54
SPDR S&P BRIC 40 ETF (BIK)	57
SPDR S&P Emerging Europe ETF (GUR)	58
SPDR S&P Emerging Latin America ETF (GML)	60
SPDR S&P Emerging Middle East & Africa ETF (GAF)	63
SPDR S&P World ex-US ETF (GWL)	65
SPDR S&P International Small Cap ETF (GWX)	78
SPDR Dow Jones International Real Estate ETF (RWX)	101
SPDR S&P Global Infrastructure ETF (GII)	104
SPDR S&P Global Natural Resources ETF (GNR)	106
SPDR S&P North American Natural Resources	108
SPDR MSCI ACWI ex-US ETF (CWI)	109
SPDR MSCI ACWI IMI ETF (ACIM)	120
SPDR MSCI ACWI Low Carbon Target ETF (LOWC)	128
SPDR MSCI EM 50 ETF (EMFT)	141
SPDR MSCI EM Beyond BRIC ETF (EMBB)	142
SPDR MSCI EAFE Quality Mix ETF (QEFA)	146
SPDR MSCI Emerging Markets Quality Mix ETF (QEMM)	152
SPDR MSCI World Quality Mix ETF (QWLD)	160
SPDR MSCI Australia Quality Mix ETF (QAUS)	170
SPDR MSCI Canada Quality Mix ETF (QCAN)	172
SPDR MSCI Germany Quality Mix ETF (QDEU)	174
SPDR MSCI Japan Quality Mix ETF (QJPN)	176
SPDR MSCI Mexico Quality Mix ETF (QMEX)	180
SPDR MSCI South Korea Quality Mix ETF (QKOR)	181
SPDR MSCI Spain Quality Mix ETF (QESP)	183
SPDR MSCI Taiwan Quality Mix ETF (QTWN)	184
SPDR MSCI United Kingdom Quality Mix ETF (QGBR)	186
SPDR Russell/Nomura PRIME Japan ETF (JPP)	188
SPDR Russell/Nomura Small Cap Japan ETF (JSC)	193
SPDR S&P Global Dividend ETF (WDIV)	201

SPDR S&P International Dividend ETF (DWX)	203
SPDR S&P International Mid Cap ETF (MDD)	205
SPDR S&P Emerging Markets Small Cap ETF (EWX)	213
SPDR Dow Jones Global Real Estate ETF (RWO)	224
SPDR S&P International Consumer Discretionary Sector ETF (IPD)	227
SPDR S&P International Consumer Staples Sector ETF (IPS)	230
SPDR S&P International Energy Sector ETF (IPW)	233
SPDR S&P International Financial Sector ETF (IPF)	235
SPDR S&P International Health Care Sector ETF (IRY)	238
SPDR S&P International Industrial Sector ETF (IPN)	240
SPDR S&P International Materials Sector ETF (IRV)	243
SPDR S&P International Technology Sector ETF (IPK)	246
SPDR S&P International Telecommunications Sector ETF (IST)	249
SPDR S&P International Utilities Sector ETF (IPU)	251

SPDR STOXX Europe 50 ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.4%
BELGIUM — 2.5%
Anheuser-Busch InBev SA		46,651	$	5,797,447
DENMARK — 2.9%
Novo Nordisk A/S Class B		115,446		6,720,262
FRANCE — 11.7%
Air Liquide SA		20,920		2,355,488
AXA SA		127,596		3,497,068
BNP Paribas SA		67,979		3,856,955
LVMH Moet Hennessy Louis Vuitton SE		16,540		2,603,477
Sanofi		72,259		6,169,703
Schneider Electric SE		35,726		2,039,809
TOTAL SA		148,265		6,646,152
				27,168,652
GERMANY — 15.2%
Allianz SE		27,786		4,936,582
BASF SE		55,843		4,290,034
Bayer AG		50,278		6,324,648
Daimler AG		60,597		5,106,822
Deutsche Bank AG		83,859		2,051,938
Deutsche Telekom AG		192,669		3,493,156
SAP SE		58,745		4,682,722
Siemens AG		47,185		4,606,985
				35,492,887
ITALY — 2.2%
Eni SpA		154,449		2,315,336
Intesa Sanpaolo SpA		873,694		2,930,801
				5,246,137
NETHERLANDS — 3.7%
ING Groep NV		235,260		3,181,759
Royal Dutch Shell PLC Class A		239,665		5,492,043
				8,673,802
SPAIN — 4.3%
Banco Bilbao Vizcaya Argentaria SA		387,092		2,833,736
Banco Santander SA		875,108		4,332,971
Telefonica SA		261,739		2,910,088
				10,076,795
SWITZERLAND — 22.8%
ABB, Ltd.		133,474		2,394,798
Cie Financiere Richemont SA		31,737		2,285,952
Credit Suisse Group AG		97,862		2,120,506
Nestle SA		193,854		14,437,378
Novartis AG		154,606		13,406,394
Roche Holding AG		42,716		11,794,908
UBS Group AG		219,106		4,272,677
Zurich Insurance Group AG		9,144		2,360,449
				53,073,062
UNITED KINGDOM — 34.1%
AstraZeneca PLC		76,840		5,228,394
Barclays PLC		1,022,579		3,299,216
BG Group PLC		207,789		3,016,663
BP PLC		1,113,358		5,809,064
British American Tobacco PLC		113,344		6,299,747
BT Group PLC		508,961		3,538,494
Diageo PLC		152,863		4,182,784
GlaxoSmithKline PLC		295,900		5,988,025
HSBC Holdings PLC		1,190,572		9,409,153
Imperial Tobacco Group PLC		58,192		3,076,112
Lloyds Banking Group PLC		3,910,750		4,211,795
National Grid PLC		238,376		3,293,835
Prudential PLC		156,313		3,527,267
Reckitt Benckiser Group PLC		40,034		3,706,174
Rio Tinto PLC		74,066		2,160,939
Unilever NV		94,892		4,134,071
Unilever PLC		79,265		3,418,992
Vodafone Group PLC		1,614,318		5,258,349
				79,559,074
TOTAL COMMON STOCKS (Cost $268,483,418)				231,808,118
SHORT-TERM INVESTMENT — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (a) (b) (Cost $151,683)		151,683		151,683
TOTAL INVESTMENTS — 99.5% (Cost $268,635,101)				231,959,801
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.5%				1,156,325
NET ASSETS — 100.0%			$	233,116,126

(a) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(b) The rate shown is the annualized seven-day yield at December 31, 2015.

1

SPDR EURO STOXX 50 ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.9%
BELGIUM — 4.1%
Anheuser-Busch InBev SA		1,319,828	$	164,018,618
FINLAND — 1.2%
Nokia Oyj		6,853,491		49,099,428
FRANCE — 36.4%
Air Liquide SA		591,857		66,640,137
Airbus Group SE		1,003,826		67,608,284
AXA SA		3,609,942		98,938,942
BNP Paribas SA		1,923,242		109,119,847
Carrefour SA		954,610		27,635,860
Cie de Saint-Gobain		856,443		37,074,609
Danone SA		1,049,999		71,037,436
Engie SA		2,794,494		49,557,131
Essilor International SA		371,821		46,469,749
L’Oreal SA		420,059		70,864,958
LVMH Moet Hennessy Louis Vuitton SE		467,957		73,658,712
Orange SA		3,506,631		58,986,288
Safran SA		588,011		40,477,990
Sanofi		2,044,250		174,544,569
Schneider Electric SE		1,010,753		57,709,881
Societe Generale SA		1,386,603		64,121,780
TOTAL SA		4,195,026		188,046,950
Unibail-Rodamco SE		169,678		43,204,893
Vinci SA		958,960		61,607,218
Vivendi SA		2,014,758		43,466,225
				1,450,771,459
GERMANY — 32.4%
Allianz SE		786,102		139,662,315
BASF SE		1,579,906		121,373,336
Bayer AG		1,422,466		178,937,037
Bayerische Motoren Werke AG		551,517		58,491,395
Daimler AG		1,714,384		144,479,978
Deutsche Bank AG		2,373,622		58,079,938
Deutsche Post AG		1,646,723		46,429,218
Deutsche Telekom AG		5,450,958		98,827,762
E.ON SE		3,441,991		33,393,321
Fresenius SE & Co. KGaA		688,502		49,340,265
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		259,183		51,960,144
SAP SE		1,662,023		132,484,333
Siemens AG		1,334,951		130,340,138
Volkswagen AG Preference Shares		314,902		45,752,939
				1,289,552,119
ITALY — 7.5%
Assicurazioni Generali SpA		2,322,434		42,686,793
Enel SpA		12,050,402		50,947,649
Eni SpA		4,367,813		65,477,624
Intesa Sanpaolo SpA		24,718,431		82,917,840
UniCredit SpA		10,264,346		57,256,068
				299,285,974
LUXEMBOURG — 0.0% (a)
APERAM SA (b)		1		36
NETHERLANDS — 4.8%
ASML Holding NV		638,279		57,237,074
ING Groep NV		6,655,934		90,017,748
Koninklijke Philips NV		1,638,404		41,932,048
				189,186,870
SPAIN — 10.5%
Banco Bilbao Vizcaya Argentaria SA		10,952,379		80,177,721
Banco Santander SA		24,830,854		122,946,385
Iberdrola SA		9,848,174		70,072,369
Industria de Diseno Textil SA		1,807,747		62,231,415
Telefonica SA		7,404,190		82,321,863
				417,749,753
UNITED KINGDOM — 3.0%
Unilever NV		2,684,693		116,961,502
TOTAL COMMON STOCKS (Cost $4,428,561,136)				3,976,625,759
SHORT-TERM INVESTMENT — 0.0% (a)
UNITED STATES — 0.0% (a)
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d) (Cost $354,501)		354,501		354,501
TOTAL INVESTMENTS — 99.9% (Cost $4,428,915,637)				3,976,980,260
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1%				5,310,911
NET ASSETS — 100.0%			$	3,982,291,171

(a) Amount shown represents less than 0.05% of net assets.

(b) Non-income producing security

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

2

SPDR EURO STOXX Small Cap ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.0%
AUSTRIA — 1.5%
IMMOFINANZ AG (a)		118,862	$	271,281
Raiffeisen Bank International AG (a)		16,446		243,057
				514,338
BELGIUM — 5.7%
Ackermans & van Haaren NV		3,199		470,177
bpost SA		13,987		343,234
Cofinimmo SA		2,906		310,660
Colruyt SA		8,658		446,229
Telenet Group Holding NV (a)		6,981		377,429
				1,947,729
FINLAND — 8.0%
Amer Sports Oyj		16,893		494,923
Huhtamaki Oyj		13,648		496,665
Kesko Oyj Class B		9,753		342,950
Metso Oyj		15,387		345,998
Neste Oyj		18,239		547,434
Orion Oyj Class B		14,569		505,967
				2,733,937
FRANCE — 20.6%
Air France-KLM (a)		35,335		269,459
CNP Assurances		21,341		288,393
Dassault Aviation SA		264		328,797
Eurazeo SA		5,897		406,775
Faurecia		8,611		346,196
Fonciere Des Regions		4,177		374,342
ICADE		5,062		340,379
Imerys SA		4,725		330,653
JCDecaux SA		9,286		356,085
Lagardere SCA		14,585		435,860
Orpea		5,715		458,041
Rubis SCA		5,527		419,858
SEB SA		3,472		356,797
Societe BIC SA		3,938		648,736
Societe Television Francaise 1		16,985		189,121
Technicolor SA		52,084		423,210
Teleperformance		8,156		686,639
UBISOFT Entertainment (a)		12,456		360,870
				7,020,211
GERMANY — 21.9%
Aareal Bank AG		8,550		270,648
Axel Springer SE		5,779		322,299
Bilfinger SE		6,574		310,434
Deutsche EuroShop AG		6,370		279,972
Deutsche Lufthansa AG (a)		33,108		523,833
Duerr AG		3,524		281,750
Evonik Industries AG		21,323		709,141
Fraport AG Frankfurt Airport Services Worldwide		5,305		339,661
Freenet AG		18,258		621,091
Fuchs Petrolub SE Preference Shares		9,905		468,051
Gerresheimer AG		4,485		351,714
Kabel Deutschland Holding AG		2,946		365,307
KION Group AG (a)		8,716		435,726
MorphoSys AG (a)		3,782		236,849
Rheinmetall AG		6,222		415,541
STADA Arzneimittel AG		8,905		361,209
Telefonica Deutschland Holding AG		95,147		505,525
Zalando SE (a) (b)		16,782		663,582
				7,462,333
GREECE — 1.8%
Hellenic Telecommunications Organization SA		35,006		351,369
OPAP SA		30,528		268,617
				619,986
IRELAND — 3.1%
Glanbia PLC		26,799		493,444
Kingspan Group PLC		21,160		558,793
				1,052,237
ITALY — 13.2%
Azimut Holding SpA		16,177		405,235
Banca Popolare dell’Emilia Romagna SC		68,609		524,691
Banca Popolare di Milano Scarl		626,159		626,461
Banca Popolare di Sondrio Scarl		64,760		292,088
Davide Campari-Milano SpA		31,657		275,112
Enel Green Power SpA		220,182		450,383
Mediaset SpA		111,968		466,089
Recordati SpA		14,556		380,916
Saipem SpA (a)		35,973		292,690
Unipol Gruppo Finanziario SpA		70,292		363,771
UnipolSai SpA		154,573		396,274
				4,473,710
LUXEMBOURG — 2.6%
Eurofins Scientific SE		1,233		431,088
RTL Group SA		5,503		460,598
				891,686
NETHERLANDS — 8.6%
Aalberts Industries NV		13,668		472,004
ASM International NV		7,389		290,244
Koninklijke Vopak NV		9,468		408,010
OCI NV (a)		12,978		321,434
PostNL NV (a)		59,893		227,716
SBM Offshore NV (a)		25,689		325,384
TNT Express NV		66,778		565,094
Wereldhave NV		5,752		323,042
				2,932,928
PORTUGAL — 2.3%
Banco Comercial Portugues SA (a)		6,327,203		336,101
Jeronimo Martins SGPS SA		34,957		455,496
				791,597
SPAIN — 9.6%
Bolsas y Mercados Espanoles SHMSF SA		11,323		382,043
Cellnex Telecom SAU (b)		21,841		409,034
Gamesa Corp. Tecnologica SA		31,972		549,447
Mapfre SA		141,990		356,612
Mediaset Espana Comunicacion SA		28,155		306,765
Merlin Properties Socimi SA		46,054		577,579
Viscofan SA		6,205		375,041
Zardoya Otis SA		24,993		292,676
				3,249,197
UNITED KINGDOM — 1.1%
Dialog Semiconductor PLC (a)		11,008		372,073
TOTAL COMMON STOCKS (Cost $34,503,765)				34,061,962

3

SPDR EURO STOXX Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SHORT-TERM INVESTMENT — 0.0% (c)
UNITED STATES — 0.0% (c)
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e) (Cost $166)		166	$	166
TOTAL INVESTMENTS — 100.0%
(Cost $34,503,931)				34,062,128
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% (c)				(3,601	)
NET ASSETS — 100.0%			$	34,058,527

(a) Non-income producing security

(b) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 3.2% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(c) Amount is less than 0.05% of net assets.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

4

SPDR EURO STOXX 50 Currency Hedged ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 98.2%
UNITED STATES — 98.2%
SPDR EURO STOXX 50 ETF (Cost $9,273,525)		248,767	$	8,565,048
SHORT-TERM INVESTMENT — 2.1%
UNITED STATES — 2.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (a) (b) (Cost $185,021)		185,021		185,021
TOTAL INVESTMENTS — 100.3% (Cost $9,458,546)				8,750,069
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.3)%				(29,150	)
NET ASSETS — 100.0%			$	8,720,919

(a) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(b) The rate shown is the annualized seven-day yield at December 31, 2015.

5

SPDR EURO STOXX 50 Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open forward foreign currency contracts were as follows:

Counterparty	Amount Sold	Amount Bought	Settlement Date	Net Unrealized Appreciation/ (Depreciation)
BNP Paribas SA	USD    327,037	EUR    298,000	01/06/2016	$	(3,312	)
BNP Paribas SA	EUR    2,029,349	USD    2,145,748	01/06/2016		(58,786	)
Bank of America, N.A.	USD    327,041	EUR    298,000	01/06/2016		(3,316	)
Bank of America, N.A.	EUR    2,029,349	USD    2,145,706	01/06/2016		(58,828	)
Citibank N.A.	USD    1,934,048	EUR    1,780,349	01/06/2016		(9	)
Citibank N.A.	USD    327,037	EUR    298,000	01/06/2016		(3,312	)
Citibank N.A.	EUR    2,029,349	USD    2,145,671	01/06/2016		(58,863	)
Citibank N.A.	USD    157,468	EUR    144,000	01/08/2016		(1,030	)
Citibank N.A.	EUR    1,780,349	USD    1,935,239	02/03/2016		(53	)
Goldman Sachs Capital Markets L.P.	USD    1,934,044	EUR    1,780,349	01/06/2016		(5	)
Goldman Sachs Capital Markets L.P.	EUR    1,780,349	USD    1,935,681	02/03/2016		388
HSBC Bank USA	USD    1,934,048	EUR    1,780,352	01/06/2016		(6	)
HSBC Bank USA	USD    327,034	EUR    298,000	01/06/2016		(3,309	)
HSBC Bank USA	EUR    2,029,349	USD    2,145,746	01/06/2016		(58,788	)
HSBC Bank USA	USD    915,355	EUR    842,000	02/03/2016		(76	)
HSBC Bank USA	EUR    1,780,352	USD    1,935,300	02/03/2016		4
Royal Bank of Canada	USD    327,027	EUR    298,000	01/06/2016		(3,302	)
Royal Bank of Canada	USD    198,970	EUR    183,000	01/06/2016		(172	)
Royal Bank of Canada	EUR    59,000	USD    62,720	01/06/2016		(1,373	)
Royal Bank of Canada	EUR    667,000	USD    705,224	01/06/2016		(19,355	)
Toronto Dominion Bank	USD    1,934,047	EUR    1,780,349	01/06/2016		(8	)
Toronto Dominion Bank	EUR    1,780,349	USD    1,935,352	02/03/2016		59
UBS	USD    327,069	EUR    298,000	01/06/2016		(3,344	)
UBS	EUR    2,029,352	USD    2,145,701	01/06/2016		(58,836	)
Westpac Banking Corp.	USD    1,934,048	EUR    1,780,349	01/06/2016		(9	)
Westpac Banking Corp.	EUR    1,780,349	USD    1,935,337	02/03/2016		45
				$	(335,596	)

EUR — Euro

USD — U.S. Dollar

At December 31, 2015, open futures contracts purchased were as follows:

Futures Contracts	Expiration Date		Number of Contracts		Notional Value		Unrealized Appreciation
Euro Stoxx 50		03/18/2016		4	$	142,609	$	3,686
Total unrealized appreciation on open futures contracts purchased							$	3,686

6

SPDR S&P International Dividend Currency Hedged ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 99.7%
UNITED STATES — 99.7%
SPDR S&P International Dividend ETF (Cost $4,013,318)		113,659	$	3,791,664
SHORT-TERM INVESTMENT — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (a) (b) (Cost $4,343)		4,343		4,343
TOTAL INVESTMENTS — 99.8% (Cost $4,017,661)				3,796,007
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%				8,200
NET ASSETS — 100.0%			$	3,804,207

(a) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(b) The rate shown is the annualized seven-day yield at December 31, 2015.

7

SPDR S&P International Dividend Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open forward foreign currency contracts were as follows:

Counterparty	Amount Sold	Amount Bought	Settlement Date	Net Unrealized Appreciation/ (Depreciation)
BNP Paribas SA	CHF    45,000	USD    43,896	01/06/2016	$	(1,061	)
BNP Paribas SA	GBP    463,000	USD    697,069	01/06/2016		14,652
Bank of America N.A.	EUR    908,000	USD    960,062	01/06/2016		(26,322	)
Citibank N.A.	USD    147,446	ZAR    2,285,000	01/06/2016		(9	)
Citibank N.A.	USD    103,748	TRY    303,000	01/06/2016		2
Citibank N.A.	USD    62,299	NZD    91,000	01/06/2016		—
Citibank N.A.	USD    45,817	SGD    65,000	01/06/2016		—
Citibank N.A.	USD    16,926	CZK    421,000	01/06/2016		—
Citibank N.A.	USD    12,202	NOK    108,000	01/06/2016		—
Citibank N.A.	NOK    109,000	USD    12,549	01/06/2016		234
Citibank N.A.	CZK    426,000	USD    16,661	01/06/2016		(465	)
Citibank N.A.	SGD    65,000	USD    46,070	01/06/2016		253
Citibank N.A.	NZD    92,000	USD    60,472	01/06/2016		(2,512	)
Citibank N.A.	TRY    307,000	USD    104,525	01/06/2016		(594	)
Citibank N.A.	ZAR    2,459,000	USD    169,411	01/06/2016		10,746
Citibank N.A.	USD    161,570	SEK    1,362,000	01/07/2016		(5	)
Citibank N.A.	SEK    1,381,000	USD    158,575	01/07/2016		(5,243	)
Citibank N.A.	NOK    108,000	USD    12,198	02/03/2016		(1	)
Citibank N.A.	CZK    421,000	USD    16,930	02/03/2016		(9	)
Citibank N.A.	SGD    65,000	USD    45,767	02/03/2016		(11	)
Citibank N.A.	NZD    91,000	USD    62,186	02/03/2016		(3	)
Citibank N.A.	TRY    303,000	USD    102,891	02/03/2016		(32	)
Citibank N.A.	ZAR    2,285,000	USD    146,677	02/03/2016		(29	)
Citibank N.A.	SEK    1,362,000	USD    161,685	02/03/2016		(11	)
Goldman Sachs Capital Markets L.P.	USD    673,576	GBP    457,000	01/06/2016		(3	)
Goldman Sachs Capital Markets L.P.	USD    44,957	CHF    45,000	01/06/2016		—
Goldman Sachs Capital Markets L.P.	CHF    45,000	USD    45,004	02/03/2016		(10	)
Goldman Sachs Capital Markets L.P.	GBP    457,000	USD    673,602	02/03/2016		(13	)
HSBC Bank USA	USD    367,859	CAD    511,000	01/06/2016		7
HSBC Bank USA	USD    228,515	HKD    1,771,000	01/06/2016		(1	)
HSBC Bank USA	USD    46,729	DKK    321,000	01/06/2016		(1	)
HSBC Bank USA	DKK    325,000	USD    46,082	01/06/2016		(1,228	)
HSBC Bank USA	HKD    1,795,000	USD    231,588	01/06/2016		(23	)
HSBC Bank USA	CAD    517,000	USD    388,233	01/06/2016		16,047
HSBC Bank USA	DKK    321,000	USD    46,761	02/03/2016		(5	)
HSBC Bank USA	HKD    1,771,000	USD    228,570	02/03/2016		(9	)
HSBC Bank USA	CAD    511,000	USD    367,900	02/03/2016		(5	)
Royal Bank of Canada	USD    12,918	AUD    18,000	01/06/2016		177
Royal Bank of Canada	USD    13,047	EUR    12,000	01/06/2016		(11	)
Royal Bank of Canada	USD    9,854	ZAR    143,000	01/06/2016		(627	)
Royal Bank of Canada	USD    8,952	GBP    6,000	01/06/2016		(109	)
Royal Bank of Canada	USD    4,306	CAD    6,000	01/06/2016		13
Royal Bank of Canada	USD    3,096	HKD    24,000	01/06/2016		1
Royal Bank of Canada	USD    2,054	ZAR    31,000	01/06/2016		(54	)
Royal Bank of Canada	USD    1,372	TRY    4,000	01/06/2016		(2	)
Royal Bank of Canada	USD    673	NZD    1,000	01/06/2016		11
Royal Bank of Canada	USD    583	DKK    4,000	01/06/2016		(1	)
Royal Bank of Canada	USD    202	CZK    5,000	01/06/2016		(1	)
Royal Bank of Canada	USD    115	NOK    1,000	01/06/2016		(2	)
Royal Bank of Canada	EUR    9,000	USD    9,516	01/06/2016		(261	)
Royal Bank of Canada	USD    2,225	SEK    19,000	01/07/2016		29
Royal Bank of Canada	USD    48,953	CAD    68,000	02/03/2016		5
Royal Bank of Canada	USD    40,224	EUR    37,000	02/03/2016		(4	)
Royal Bank of Canada	USD    34,150	AUD    47,000	02/03/2016		(4	)
Royal Bank of Canada	USD    15,412	ZAR    240,000	02/03/2016		(3	)
Royal Bank of Canada	USD    12,571	TRY    37,000	02/03/2016		(3	)
Royal Bank of Canada	USD    5,292	HKD    41,000	02/03/2016		—
Royal Bank of Canada	USD    3,918	SEK    33,000	02/03/2016		—

8

SPDR S&P International Dividend Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Counterparty	Amount Sold	Amount Bought	Settlement Date	Net Unrealized Appreciation/ (Depreciation)
Royal Bank of Canada	USD    1,748	DKK    12,000	02/03/2016	$	—
Royal Bank of Canada	USD    1,474	GBP    1,000	02/03/2016		—
Royal Bank of Canada	USD    1,409	SGD    2,000	02/03/2016		—
Royal Bank of Canada	USD    524	CZK    13,000	02/03/2016		—
Royal Bank of Canada	NOK    8,000	USD    903	02/03/2016		—
Royal Bank of Canada	CHF    1,000	USD    1,000	02/03/2016		—
Societe Generale	USD    64,499	THB    2,321,000	01/06/2016		(2	)
Societe Generale	USD    830	THB    30,000	01/06/2016		4
Societe Generale	THB    2,351,000	USD    65,536	01/06/2016		205
Societe Generale	USD    11,056	THB    399,000	02/03/2016		24
Societe Generale	THB    2,321,000	USD    64,374	02/03/2016		(78	)
Toronto Dominion Bank	USD    983,129	EUR    905,000	01/06/2016		(4	)
Toronto Dominion Bank	EUR    905,000	USD    983,792	02/03/2016		30
UBS	AUD    1,383,000	USD    1,000,293	01/06/2016		(5,857	)
Westpac Banking Corp.	USD    993,065	AUD    1,365,000	01/06/2016		(10	)
Westpac Banking Corp.	AUD    1,365,000	USD    991,693	02/03/2016		(7	)
				$	(2,205	)

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

CZK — Czech Koruna

DKK — Danish Krone

EUR — Euro

GBP — Great British Pound

HKD — Hong Kong Dollar

NOK — Norwegian Krone

SEK — Swedish Krona

SGD — Singapore Dollar

THB — Thai Baht

TRY — Turkish Lira

USD — United States Dollar

ZAR — South African Rand

9

SPDR MSCI International Real Estate Currency Hedged ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.0%
AUSTRALIA — 12.3%
Abacus Property Group		2,140	$	4,982
Aveo Group		2,990		6,852
BWP Trust		3,976		9,141
Cedar Woods Properties, Ltd.		458		1,353
Charter Hall Retail REIT		2,470		7,494
Cromwell Property Group		9,422		7,198
Dexus Property Group REIT		6,874		37,509
Gateway Lifestyle		1,845		4,067
GDI Property Group		3,852		2,396
GPT Group REIT		12,385		43,071
Growthpoint Properties Australia, Ltd.		1,502		3,366
Investa Office Fund		3,867		11,254
Mirvac Group REIT		26,162		37,688
Scentre Group REIT		37,510		114,347
Shopping Centres Australasia Property Group		5,276		8,176
Stockland REIT		16,607		49,538
Vicinity Centres REIT		23,484		47,840
Westfield Corp.		14,106		97,599
				493,871
AUSTRIA — 1.1%
BUWOG AG (a)		424		9,214
CA Immobilien Anlagen AG (a)		483		8,830
Conwert Immobilien Invest SE (a)		496		7,565
IMMOFINANZ AG (a)		6,372		14,543
S IMMO AG (a)		414		3,688
				43,840
BELGIUM — 1.0%
Aedifica SA		97		6,381
Befimmo SA		140		8,365
Cofinimmo SA		142		15,180
Intervest Offices & Warehouses NV		106		2,806
Warehouses De Pauw CVA		108		9,531
				42,263
BERMUDA — 0.0% (b)
CSI Properties, Ltd.		40,000		1,368
CANADA — 3.4%
Allied Properties Real Estate Investment Trust		294		6,682
Artis Real Estate Investment Trust		520		4,792
Boardwalk Real Estate Investment Trust		180		6,149
Brookfield Canada Office Properties		100		1,876
Canadian Apartment Properties REIT		448		8,656
Canadian Real Estate Investment Trust		282		8,539
Choice Properties Real Estate Investment Trust		340		2,888
Cominar Real Estate Investment Trust		636		6,735
Crombie Real Estate Investment Trust		294		2,709
CT Real Estate Investment Trust		244		2,283
Dream Global Real Estate Investment Trust		424		2,643
Dream Industrial Real Estate Investment Trust		220		1,137
Dream Office Real Estate Investment Trust		410		5,127
First Capital Realty, Inc.		858		11,334
Granite Real Estate Investment Trust		178		4,864
H&R Real Estate Investment Trust		949		13,698
InnVest Real Estate Investment Trust		496		1,832
InterRent Real Estate Investment Trust		266		1,256
Killam Properties, Inc.		432		3,268
Milestone Apartments Real Estate Investment Trust		230		2,492
Morguard Real Estate Investment Trust		236		2,314
Northview Apartment Real Estate Investment Trust		70		885
NorthWest Healthcare Properties Real Estate Investment Trust		216		1,389
Pure Industrial Real Estate Trust		716		2,252
RioCan Real Estate Investment Trust		1,102		18,794
Smart Real Estate Investment Trust		486		10,562
				135,156
FINLAND — 0.4%
Citycon Oyj (a)		3,098		8,077
Sponda Oyj		1,642		6,999
Technopolis Oyj		660		2,674
				17,750
FRANCE — 8.2%
ANF Immobilier		50		1,130
Fonciere Des Regions		211		18,910
Gecina SA		243		29,591
ICADE		233		15,668
Klepierre		1,570		69,908
Mercialys SA		392		7,935
Nexity SA		230		10,195
Unibail-Rodamco SE		697		177,476
				330,813
GERMANY — 7.2%
ADLER Real Estate AG (a)		178		2,750
ADO Properties SA (a) (c)		155		4,462
alstria office REIT-AG (a)		809		10,823
Deutsche EuroShop AG		320		14,064
Deutsche Wohnen AG		2,365		65,807
DIC Asset AG		344		3,483
Grand City Properties SA		652		15,150
Hamborner REIT AG		464		4,846
LEG Immobilien AG (a)		442		36,251
PATRIZIA Immobilien AG (a)		296		8,682
TAG Immobilien AG		774		9,669
TLG Immobilien AG		463		8,716
Vonovia SE		3,330		103,276
				287,979
HONG KONG — 17.1%
Champion REIT		18,000		9,011
Cheung Kong Property Holdings, Ltd.		19,045		123,852
Far East Consortium International, Ltd.		8,367		3,185
Hang Lung Properties, Ltd.		16,000		36,417
Henderson Land Development Co., Ltd.		8,000		49,031
Hongkong Land Holdings, Ltd.		4,000		28,000
Hysan Development Co., Ltd.		4,000		16,387
Kerry Properties, Ltd.		4,500		12,280
Kowloon Development Co., Ltd.		2,000		1,977
Lai Sun Development Co., Ltd.		90,000		1,382
Langham Hospitality Investments and Langham Hospitality Investments, Ltd.		7,000		2,565
Link REIT		16,000		95,792
Liu Chong Hing Investment, Ltd.		2,000		2,400
New World Development Co., Ltd.		38,710		38,260
Prosperity REIT		8,000		2,880
Regal Real Estate Investment Trust		8,000		2,003
Sino Land Co., Ltd.		22,000		32,247
Sun Hung Kai Properties, Ltd.		12,000		144,926
Sunlight Real Estate Investment Trust		8,000		3,953

10

SPDR MSCI International Real Estate Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Swire Properties, Ltd.		8,200	$	23,700
Wharf Holdings, Ltd.		10,000		55,483
				685,731
INDIA — 0.1%
Ascendas India Trust		5,800		3,557
ISRAEL — 0.3%
Africa Israel Properties, Ltd.		100		1,058
Airport City, Ltd. (a)		—		1
Amot Investments, Ltd.		850		2,733
Bayside Land Corp.		6		1,810
Melisron, Ltd.		120		3,840
Reit 1, Ltd.		1,246		3,327
				12,769
ITALY — 0.2%
Beni Stabili SpA SIIQ		7,900		5,994
Immobiliare Grande Distribuzione SIIQ SpA		2,634		2,537
				8,531
JAPAN — 19.5%
Activia Properties, Inc.		2		8,529
Advance Residence Investment Corp.		6		13,252
Aeon Mall Co., Ltd.		500		8,662
AEON REIT Investment Corp.		4		4,745
Ardepro Co., Ltd.		600		574
Comforia Residential REIT, Inc.		2		3,799
Daibiru Corp.		200		1,668
Daikyo, Inc.		1,000		1,638
Daiwa House Industry Co., Ltd.		2,800		81,536
Daiwa House REIT Investment Corp.		1		3,932
Daiwa House Residential Investment Corp.		3		6,225
Daiwa Office Investment Corp.		1		5,437
Frontier Real Estate Investment Corp.		2		8,055
Fukuoka REIT Corp.		3		5,200
Global One Real Estate Investment Corp.		1		3,599
GLP J — REIT		10		9,709
Hankyu REIT, Inc.		2		2,128
Heiwa Real Estate Co., Ltd.		200		2,213
Heiwa Real Estate REIT, Inc.		4		2,796
Hulic Co., Ltd.		1,400		12,441
Hulic REIT, Inc.		3		4,202
Ichigo Office REIT Investment		6		4,329
Industrial & Infrastructure Fund Investment Corp.		1		4,788
Invesco Office J-Reit, Inc.		2		1,704
Invincible Investment Corp.		12		7,023
Japan Excellent, Inc.		6		6,624
Japan Hotel REIT Investment Corp.		14		10,416
Japan Logistics Fund, Inc.		4		7,791
Japan Prime Realty Investment Corp.		4		13,733
Japan Real Estate Investment Corp.		6		29,278
Japan Rental Housing Investments, Inc.		8		5,679
Japan Retail Fund Investment Corp.		11		21,233
Kenedix Office Investment Corp.		2		9,393
Kenedix Residential Investment Corp.		1		2,477
Leopalace21 Corp. (a)		1,200		6,564
MCUBS MidCity Investment Corp.		1		3,072
Mitsubishi Estate Co., Ltd.		6,000		125,866
Mitsui Fudosan Co., Ltd.		4,000		101,617
Mori Hills REIT Investment Corp.		6		7,731
Mori Trust Sogo REIT, Inc.		4		6,860
Nippon Accommodations Fund, Inc.		2		6,983
Nippon Building Fund, Inc.		6		28,779
Nippon Prologis REIT, Inc.		7		12,715
NIPPON REIT Investment Corp.		2		4,778
Nomura Real Estate Holdings, Inc.		600		11,247
Nomura Real Estate Master Fund, Inc. (a)		17		21,113
NTT Urban Development Corp.		600		5,836
Orix JREIT, Inc.		10		13,001
Premier Investment Corp.		5		5,125
Sekisui House Reit, Inc.		4		4,369
Sekisui House SI Residential Investment Corp.		4		3,604
Sumitomo Realty & Development Co., Ltd.		2,000		57,775
Sun Frontier Fudousan Co., Ltd.		200		1,485
Takara Leben Co., Ltd.		400		2,248
TOC Co., Ltd.		200		1,774
Tokyo Tatemono Co., Ltd.		1,000		10,998
Tokyu REIT, Inc.		4		5,071
Top REIT, Inc.		1		3,799
Tosei Corp.		200		1,277
United Urban Investment Corp.		12		16,360
				784,855
NETHERLANDS — 1.0%
Eurocommercial Properties NV		319		13,790
NSI NV		998		4,309
Vastned Retail NV		148		6,809
Wereldhave NV		282		15,838
				40,746
NEW ZEALAND — 0.7%
Argosy Property, Ltd.		6,301		4,939
Goodman Property Trust		8,080		6,859
Kiwi Property Group, Ltd.		9,511		8,790
Precinct Properties New Zealand, Ltd.		7,964		6,816
				27,404
NORWAY — 0.2%
Entra ASA (c)		640		5,152
Norwegian Property ASA (a)		1,910		1,962
Selvaag Bolig ASA		254		789
				7,903
SINGAPORE — 6.8%
AIMS AMP Capital Industrial REIT		3,600		3,489
Ascendas Hospitality Trust		5,600		2,921
Ascendas Real Estate Investment Trust		14,800		23,786
Ascott Residence Trust		6,600		5,513
Cache Logistics Trust		5,400		3,464
Cambridge Industrial Trust		7,000		2,788
CapitaLand Commercial Trust, Ltd.		14,000		13,323
CapitaLand Mall Trust		16,800		22,856
CapitaLand Retail China Trust		4,200		4,411
CDL Hospitality Trusts		5,000		4,670
City Developments, Ltd.		3,200		17,256
Far East Hospitality Trust		6,200		2,906
First Real Estate Investment Trust		3,800		3,214
Frasers Centrepoint Trust		4,200		5,462
Frasers Commercial Trust		4,649		4,162
Frasers Hospitality Trust		3,600		1,903
Global Logistic Properties, Ltd.		22,400		33,948
Ho Bee Land, Ltd.		1,400		1,993
Hong Fok Corp., Ltd.		1,800		914
Keppel DC REIT		4,000		2,862
Keppel REIT		14,800		9,702

11

SPDR MSCI International Real Estate Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Lippo Malls Indonesia Retail Trust		13,600	$	3,068
Mapletree Commercial Trust		9,800		8,980
Mapletree Greater China Commercial Trust		14,800		9,546
Mapletree Industrial Trust		9,400		10,072
Mapletree Logistics Trust		11,400		7,955
OUE Hospitality Trust		5,600		3,039
Parkway Life Real Estate Investment Trust		2,800		4,599
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust		4,600		2,318
Soilbuild Business Space REIT		5,000		2,714
SPH REIT		5,800		3,904
Starhill Global REIT		10,800		5,748
Suntec Real Estate Investment Trust		16,400		17,918
UOL Group, Ltd.		3,600		15,835
Yanlord Land Group, Ltd.		4,600		3,259
Ying Li International Real Estate, Ltd. (a)		7,000		819
				271,317
SPAIN — 1.5%
Axiare Patrimonio SOCIMI SA		558		8,001
Hispania Activos Inmobiliarios SA (a)		638		9,079
Inmobiliaria Colonial SA (a)		14,802		10,323
Lar Espana Real Estate Socimi SA		464		4,768
Merlin Properties Socimi SA		2,140		26,839
				59,010
SWEDEN — 2.5%
Castellum AB		1,082		15,491
Dios Fastigheter AB		346		2,514
Fabege AB		924		15,355
Fastighets AB Balder Class B (a)		578		14,308
Hemfosa Fastigheter AB		966		10,799
Hufvudstaden AB Class A		735		10,453
Klovern AB Class B		3,550		4,000
Kungsleden AB		1,268		9,100
Wallenstam AB Class B		1,202		9,695
Wihlborgs Fastigheter AB		451		9,148
				100,863
SWITZERLAND — 2.2%
Allreal Holding AG (a)		90		12,012
Intershop Holding AG		8		3,217
Mobimo Holding AG (a)		48		10,679
PSP Swiss Property AG (a)		287		25,230
Swiss Prime Site AG (a)		467		36,623
				87,761
UNITED KINGDOM — 13.3%
Big Yellow Group PLC		995		11,820
British Land Co. PLC		6,951		80,526
Capital & Counties Properties PLC		5,348		34,730
Derwent London PLC		764		41,349
Grainger PLC		2,728		9,361
Great Portland Estates PLC		2,417		29,497
Hammerson PLC		5,477		48,435
Hansteen Holdings PLC		5,570		9,449
Helical Bar PLC		778		5,444
Intu Properties PLC		6,642		31,063
Land Securities Group PLC		5,650		98,015
LondonMetric Property PLC		3,905		9,439
NewRiver Retail, Ltd.		1,406		7,139
Primary Health Properties PLC		3,348		5,367
Redefine International PLC		8,097		5,967
Safestore Holdings PLC		1,606		8,460
Schroder Real Estate Investment Trust, Ltd.		4,012		3,519
Segro PLC		5,303		33,562
Shaftesbury PLC		1,842		24,828
Tritax Big Box REIT PLC		4,943		9,449
UNITE Group PLC		1,551		14,996
Workspace Group PLC		808		11,415
				533,830
TOTAL COMMON STOCKS (Cost $3,918,150)				3,977,317
RIGHTS — 0.0% (b)
SINGAPORE — 0.0% (b)
Ascendas Real Estate Investment Trust (expiring 1/13/16) (a)		555		24
TOTAL RIGHTS (Cost $0)				24
SHORT-TERM INVESTMENT — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e) (Cost $3,097)		3,097		3,097
TOTAL INVESTMENTS — 99.1% (Cost $3,921,247)				3,980,438
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.9%				36,316
NET ASSETS — 100.0%			$	4,016,754

(a) Non-income producing security

(b) Amount shown represents less than 0.05% of net assets.

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.2% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

REIT = Real Estate Investment Trust

12

SPDR MSCI International Real Estate Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open forward foreign currency contracts were as follows:

Counterparty	Amount Sold		Amount Bought		Settlement Date		Net Unrealized Appreciation/ (Depreciation)
BNP Paribas SA	EUR	843,000	USD	891,353		01/06/2016	$	(24,420	)
Bank of America N.A.	JPY	101,453,000	USD	823,994		01/06/2016		(19,402	)
Citibank N.A.	USD	688,774	HKD	5,338,000		01/06/2016		(5	)
Citibank N.A.	USD	26,015	NZD	38,000		01/06/2016		—
Citibank N.A.	USD	12,593	ILS	49,000		01/06/2016		—
Citibank N.A.	USD	7,457	NOK	66,000		01/06/2016		—
Citibank N.A.	NOK	70,000	USD	8,059		01/06/2016		150
Citibank N.A.	ILS	53,000	USD	13,704		01/06/2016		82
Citibank N.A.	NZD	39,000	USD	25,635		01/06/2016		(1,065	)
Citibank N.A.	HKD	4,977,000	USD	642,113		01/06/2016		(76	)
Citibank N.A.	USD	103,680	SEK	874,000		01/07/2016		(3	)
Citibank N.A.	SEK	937,000	USD	107,592		01/07/2016		(3,558	)
Citibank N.A.	NOK	66,000	USD	7,454		02/03/2016		—
Citibank N.A.	ILS	49,000	USD	12,597		02/03/2016		(4	)
Citibank N.A.	NZD	38,000	USD	25,968		02/03/2016		(1	)
Citibank N.A.	SEK	874,000	USD	103,754		02/03/2016		(7	)
Citibank N.A.	HKD	5,338,000	USD	688,925		02/03/2016		(40	)
Deutsche Bank AG	HKD	31,003	USD	4,000		01/06/2016		—
Deutsche Bank AG	JPY	600,796	USD	5,000		01/06/2016		6
Deutsche Bank AG	EUR	7,362	USD	8,000		01/06/2016		2
Deutsche Bank AG	AUD	12,350	USD	9,000		01/06/2016		15
Deutsche Bank AG	GBP	6,109	USD	9,000		01/06/2016		(4	)
Goldman Sachs	USD	861,459	EUR	793,000		01/06/2016		(2	)
Goldman Sachs	EUR	793,000	USD	862,188		02/03/2016		173
HSBC Bank USA	USD	560,085	GBP	380,000		01/06/2016		(2	)
HSBC Bank USA	USD	265,733	SGD	377,000		01/06/2016		4
HSBC Bank USA	SGD	435,000	USD	308,356		01/06/2016		1,736
HSBC Bank USA	GBP	417,000	USD	627,814		01/06/2016		13,197
HSBC Bank USA	SGD	377,000	USD	265,460		02/03/2016		(50	)
HSBC Bank USA	GBP	380,000	USD	560,109		02/03/2016		(8	)
Royal Bank of Canada	USD	37,638	GBP	25,000		01/06/2016		(791	)
Royal Bank of Canada	USD	32,614	SGD	46,000		01/06/2016		(190	)
Royal Bank of Canada	USD	30,380	AUD	42,000		01/06/2016		175
Royal Bank of Canada	USD	29,289	EUR	27,000		01/06/2016		42
Royal Bank of Canada	USD	28,194	JPY	3,418,000		01/06/2016		221
Royal Bank of Canada	USD	24,318	EUR	23,000		01/06/2016		667
Royal Bank of Canada	USD	23,479	HKD	182,000		01/06/2016		5
Royal Bank of Canada	USD	17,884	GBP	12,000		01/06/2016		(197	)
Royal Bank of Canada	USD	16,515	AUD	23,000		01/06/2016		218
Royal Bank of Canada	USD	9,011	CAD	12,000		01/06/2016		(373	)
Royal Bank of Canada	USD	8,494	SGD	12,000		01/06/2016		(35	)
Royal Bank of Canada	USD	4,316	CAD	6,000		01/06/2016		4
Royal Bank of Canada	USD	3,020	CHF	3,000		01/06/2016		(23	)
Royal Bank of Canada	USD	976	CHF	1,000		01/06/2016		23
Royal Bank of Canada	USD	776	ILS	3,000		01/06/2016		(5	)
Royal Bank of Canada	USD	674	NZD	1,000		01/06/2016		10
Royal Bank of Canada	USD	258	ILS	1,000		01/06/2016		(1	)
Royal Bank of Canada	USD	230	NOK	2,000		01/06/2016		(4	)
Royal Bank of Canada	USD	228	NOK	2,000		01/06/2016		(2	)
Royal Bank of Canada	JPY	2,049,000	USD	16,642		01/06/2016		(392	)
Royal Bank of Canada	HKD	543,000	USD	70,061		01/06/2016		(4	)
Royal Bank of Canada	USD	3,904	SEK	34,000		01/07/2016		129
Royal Bank of Canada	USD	3,392	SEK	29,000		01/07/2016		48
Royal Bank of Canada	USD	26,091	EUR	24,000		02/03/2016		(3	)
Royal Bank of Canada	USD	18,243	JPY	2,193,000		02/03/2016		(1	)
Royal Bank of Canada	USD	17,294	HKD	134,000		02/03/2016		1
Royal Bank of Canada	USD	16,215	GBP	11,000		02/03/2016		(1	)
Royal Bank of Canada	USD	5,759	CAD	8,000		02/03/2016		1

13

SPDR MSCI International Real Estate Currency Hedged ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Counterparty	Amount Sold		Amount Bought		Settlement Date		Net Unrealized Appreciation/ (Depreciation)
Royal Bank of Canada	USD	771	ILS	3,000		02/03/2016	$	—
Royal Bank of Canada	USD	712	SEK	6,000		02/03/2016		—
Royal Bank of Canada	USD	113	NOK	1,000		02/03/2016		—
Royal Bank of Canada	SGD	2,000	USD	1,409		02/03/2016		—
Royal Bank of Canada	AUD	13,000	USD	9,446		02/03/2016		1
Toronto Dominion Bank	USD	832,009	JPY	100,084,000		01/06/2016		7
Toronto Dominion Bank	JPY	100,084,000	USD	832,459		02/03/2016		(80	)
UBS	CHF	94,000	USD	91,686		01/06/2016		(2,225	)
UBS	CAD	210,000	USD	157,696		01/06/2016		6,518
UBS	AUD	748,000	USD	541,012		01/06/2016		(3,186	)
Westpac Banking Corp.	USD	496,896	AUD	683,000		01/06/2016		(5	)
Westpac Banking Corp.	USD	138,218	CAD	192,000		01/06/2016		1
Westpac Banking Corp.	USD	89,914	CHF	90,000		01/06/2016		1
Westpac Banking Corp.	CHF	90,000	USD	90,023		02/03/2016		(5	)
Westpac Banking Corp.	CAD	192,000	USD	138,230		02/03/2016		(4	)
Westpac Banking Corp.	AUD	683,000	USD	496,210		02/03/2016		(3	)
							$	(32,739	)

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

EUR — Euro

GBP — British Pound

HKD — Hong Kong Dollar

ILS — Israeli New Shekel

JPY — Japanese Yen

NOK — Norwegian Krone

NZD — New Zealand Dollar

SEK — Swedish Krona

SGD — Singapore Dollar

USD — U.S. Dollar

14

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.2%
CHINA — 44.5%
21Vianet Group, Inc. ADR (a)		11,359	$	240,129
500.com, Ltd. Class A, ADR (a)		2,066		41,527
51job, Inc. ADR (a)		3,380		99,575
58.com, Inc. ADR (a)		5,175		341,343
A8 New Media Group, Ltd. (a)		488,346		39,067
AAC Technologies Holdings, Inc.		99,000		645,723
Agile Property Holdings, Ltd. (b)		663,598		369,895
Agricultural Bank of China, Ltd. Class H		3,390,000		1,386,593
Air China, Ltd. Class H		465,414		366,919
Alibaba Group Holding, Ltd. ADR (a) (b)		161,236		13,103,650
Aluminum Corp. of China, Ltd. Class H (a) (b)		890,304		295,231
Angang Steel Co., Ltd. Class H (b)		501,244		203,081
Anhui Conch Cement Co., Ltd. Class H		294,750		792,957
Anhui Expressway Co., Ltd. Class H		60,000		51,096
ANTA Sports Products, Ltd.		124,000		340,793
Autohome, Inc. ADR (a)		6,099		212,977
AVIC International Holding HK, Ltd. (a) (b)		648,000		66,053
AviChina Industry & Technology Co., Ltd. Class H		546,000		429,747
BAIC Motor Corp., Ltd. Class H (c)		246,500		246,813
Baidu, Inc. ADR (a)		40,028		7,566,893
Bank of China, Ltd. Class H		11,060,466		4,937,867
Bank of Communications Co., Ltd. Class H		3,121,630		2,199,196
BBMG Corp. Class H		139,500		94,858
Beijing Capital International Airport Co., Ltd. Class H		158,000		170,637
Beijing Capital Land, Ltd. Class H		142,000		65,044
Beijing Enterprises Holdings, Ltd.		96,000		581,563
Beijing Enterprises Water Group, Ltd. (a) (b)		580,000		406,366
Belle International Holdings, Ltd.		729,000		547,445
Biostime International Holdings, Ltd. (b)		29,500		60,826
Bitauto Holdings, Ltd. ADR (a)		3,168		89,591
Boer Power Holdings, Ltd. (b)		61,000		109,877
Boyaa Interactive International, Ltd. (b)		130,200		54,599
Brilliance China Automotive Holdings, Ltd. (b)		458,000		576,182
Byd Co., Ltd. Class H (a) (b)		113,800		626,255
BYD Electronic International Co., Ltd. (a)		144,000		77,294
C.banner International Holdings, Ltd. (a) (b)		224,000		102,026
CAR, Inc. (a) (b)		224,109		371,291
CGN Power Co., Ltd. Class H (c)		1,595,000		596,827
Changshouhua Food Co., Ltd.		97,000		60,327
Chanjet Information Technology Co., Ltd. Class H		31,700		69,780
China Aerospace International Holdings, Ltd. (b)		366,000		49,586
China Agri-Industries Holdings, Ltd. (a) (b)		345,000		118,411
China Animal Healthcare, Ltd. (a) (b)		305,700		51,278
China Assurance Finance Group, Ltd. (a) (b)		184,000		20,180
China Biologic Products, Inc. (a) (b)		986		140,466
China Cinda Asset Management Co., Ltd. Class H		1,362,600		504,592
China CITIC Bank Corp., Ltd. Class H (a)		1,646,341		1,066,383
China Coal Energy Co., Ltd. Class H (b)		806,000		308,874
China Communications Construction Co., Ltd. Class H		732,000		748,042
China Conch Venture Holdings, Ltd.		183,100		379,423
China Construction Bank Corp. Class H		13,455,148		9,218,768
China COSCO Holdings Co., Ltd. Class H (a) (b)		31,000		14,080
China Dongxiang Group Co., Ltd.		593,000		141,552
China Eastern Airlines Corp., Ltd. Class H (a)		230,000		130,875
China Everbright International, Ltd.		352,000		452,368
China Everbright, Ltd.		140,000		321,903
China Fangda Group Co., Ltd. Class B		106,000		98,749
China Fire Safety Enterprise Group, Ltd. (a)		511,686		26,409
China Galaxy Securities Co., Ltd. Class H (b)		433,100		396,768
China Harmony New Energy Auto Holding, Ltd.		93,500		65,992
China Hongqiao Group, Ltd. (b)		148,000		88,034
China Huarong Energy Co., Ltd. (a) (b)		1,031,500		32,475
China Huishan Dairy Holdings Co., Ltd. (b)		747,000		286,264
China Huiyuan Juice Group, Ltd. (a)		174,500		79,931
China International Marine Containers Group Co., Ltd. Class H		104,000		190,283
China Lesso Group Holdings, Ltd.		168,000		117,273
China Life Insurance Co., Ltd. Class H		1,120,708		3,622,347
China Lilang, Ltd.		103,000		76,019
China Lodging Group, Ltd. ADR		4,897		153,080
China Longyuan Power Group Corp., Ltd. Class H		595,000		449,120
China Machinery Engineering Corp. Class H (b)		106,000		77,823
China Medical System Holdings, Ltd.		201,000		296,177
China Mengniu Dairy Co., Ltd.		484,780		790,645
China Merchants Bank Co., Ltd. Class H		776,760		1,834,120
China Merchants Holdings International Co., Ltd.		373,375		1,187,550
China Merchants Property Development Co., Ltd. Class B (a)		286,126		1,116,583
China Minsheng Banking Corp., Ltd. Class H		1,079,600		1,069,828
China Mobile, Ltd.		847,636		9,569,899
China Modern Dairy Holdings, Ltd. (b)		420,000		108,927
China Molybdenum Co., Ltd. Class H (b)		501,000		93,734
China National Building Material Co., Ltd. Class H (b)		518,000		248,635

15

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
China NT Pharma Group Co., Ltd. (a)		129,500	$	42,108
China Oilfield Services, Ltd. Class H (b)		346,557		298,257
China Overseas Land & Investment, Ltd.		853,084		2,993,992
China Pacific Insurance Group Co., Ltd. Class H		361,200		1,486,717
China Petroleum & Chemical Corp. Class H		3,939,726		2,379,040
China Power International Development, Ltd.		332,000		191,914
China Railway Construction Corp., Ltd. Class H		298,500		370,133
China Railway Group, Ltd. Class H		755,000		573,789
China Resources Beer Holdings Co., Ltd.		301,018		644,749
China Resources Gas Group, Ltd.		70,000		209,093
China Resources Land, Ltd.		478,767		1,396,119
China Resources Power Holdings Co., Ltd.		392,437		763,592
China Shengmu Organic Milk, Ltd. (a) (c)		421,000		99,408
China Shenhua Energy Co., Ltd. Class H		589,040		925,725
China Shipping Container Lines Co., Ltd. Class H (a) (b)		1,521,339		424,004
China Shipping Development Co., Ltd. Class H (b)		719,215		477,921
China Silver Group, Ltd.		108,000		28,288
China Singyes Solar Technologies Holdings, Ltd. (a) (b)		80,000		57,496
China South City Holdings, Ltd. (b)		474,000		107,030
China Southern Airlines Co., Ltd. Class H		258,000		199,072
China State Construction International Holdings, Ltd.		280,000		486,287
China Taiping Insurance Holdings Co., Ltd. (a)		148,941		461,228
China Telecom Corp., Ltd. Class H		2,725,320		1,279,996
China Travel International Investment Hong Kong, Ltd.		322,000		135,445
China Unicom Hong Kong, Ltd.		936,172		1,141,504
China Vanke Co., Ltd. Class H (b)		166,900		493,153
China Yurun Food Group, Ltd. (a) (b)		234,659		49,959
Chinasoft International, Ltd. (a)		264,000		109,345
Chongqing Changan Automobile Co., Ltd. Class B		104,300		230,128
Chongqing Rural Commercial Bank Co., Ltd. Class H		247,000		149,472
CITIC Dameng Holdings, Ltd. (a)		288,000		19,695
CITIC Resources Holdings, Ltd. (a) (b)		426,000		43,973
CITIC Securities Co., Ltd. Class H (b)		259,500		606,716
CITIC Telecom International Holdings, Ltd. (b)		235,000		89,753
CITIC, Ltd.		735,000		1,301,162
CNinsure, Inc. ADR (a)		10,352		96,067
CNOOC, Ltd.		2,392,249		2,490,978
Cogobuy Group (a) (b) (c)		74,000		98,919
Colour Life Services Group Co., Ltd.		107,000		91,535
Consun Pharmaceutical Group, Ltd.		214,400		140,810
Coolpad Group, Ltd. (a) (b)		528,000		105,598
COSCO Pacific, Ltd.		36,000		39,669
Cosmo Lady China Holdings Co., Ltd. (b) (c)		118,000		98,814
Country Garden Holdings Co., Ltd. (b)		893,333		366,548
Credit China Holdings, Ltd. (b)		488,000		190,789
CRRC Corp., Ltd. Class H (b)		617,000		762,677
CSG Holding Co., Ltd. Class B		136,600		126,375
CSPC Pharmaceutical Group, Ltd.		340,000		347,451
CT Environmental Group, Ltd. (b)		460,000		150,758
Ctrip.com International, Ltd. ADR (a)		45,704		2,117,466
Dalian Wanda Commercial Properties Co., Ltd. Class H (c)		78,300		457,162
Datang International Power Generation Co., Ltd. Class H		450,000		137,030
Dazhong Transportation Group Co., Ltd. Class B		87,600		112,391
Dongfang Electric Corp., Ltd. Class H		24,400		24,840
Dongfeng Motor Group Co., Ltd. Class H		570,468		762,572
E-Commerce China Dangdang, Inc. Class A, ADR (a) (b)		13,970		100,444
E-House China Holdings, Ltd. ADR (b)		20,127		126,599
Evergrande Real Estate Group, Ltd. (b)		681,000		599,268
Far East Horizon, Ltd.		176,000		163,734
FIH Mobile, Ltd.		398,000		152,007
First Tractor Co., Ltd. Class H		92,000		59,116
Fufeng Group, Ltd. (b)		140,000		63,225
Future Land Holdings Co., Ltd. Class A (a)		107,401		335,917
Geely Automobile Holdings, Ltd.		730,000		389,012
GF Securities Co., Ltd. Class H (a) (b)		133,600		335,459
Golden Eagle Retail Group, Ltd. (b)		112,000		135,264
GOME Electrical Appliances Holding, Ltd. (b)		1,920,322		319,635
Goodbaby International Holdings, Ltd. (a)		309,000		112,434
Great Wall Motor Co., Ltd. Class H		438,000		510,331
Greentown China Holdings, Ltd. (a) (b)		126,500		125,681
Guangdong Investment, Ltd.		366,000		518,529
Guangshen Railway Co., Ltd. Class H (b)		86,400		43,143
Guangzhou Automobile Group Co., Ltd. Class H		580,032		517,154
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H (b)		50,000		141,610
Guangzhou R&F Properties Co., Ltd. Class H (b)		475,776		586,267
Guotai Junan International Holdings, Ltd. (b)		347,000		121,783
Haitian International Holdings, Ltd.		89,000		129,995
Haitong Securities Co., Ltd. Class H (b)		411,600		727,588
Hengan International Group Co., Ltd.		106,500		1,005,890
HNA International Investment Holdings, Ltd. (a)		543,400		30,850
Homeinns Hotel Group ADR (a)		5,363		183,200
Huadian Fuxin Energy Corp., Ltd. Class H (b)		284,000		81,351
Huadian Power International Corp., Ltd. Class H		260,000		169,416
Huaneng Power International, Inc. Class H		736,472		635,729

16

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Huaneng Renewables Corp., Ltd. Class H		468,000	$	140,095
Huatai Securities Co., Ltd. Class H (a) (c)		90,400		210,890
Huishang Bank Corp., Ltd. Class H		817,000		370,015
Huiyin Smart Community Co., Ltd. (a)		296,000		37,047
Industrial & Commercial Bank of China, Ltd. Class H		11,451,138		6,914,876
Inner Mongolia Yitai Coal Co., Ltd. Class B		247,422		225,649
Intime Retail Group Co., Ltd.		209,500		206,522
JD.com, Inc. ADR (a)		122,210		3,943,106
Jiangsu Expressway Co., Ltd. Class H		444,299		599,649
Jiangxi Copper Co., Ltd. Class H (b)		341,578		405,038
Jinheng Automotive Safety Technology Holdings, Ltd. (a)		219,000		29,388
JinkoSolar Holding Co., Ltd. ADR (a) (b)		3,972		109,905
Jumei International Holding, Ltd. ADR (a)		3,052		27,651
Kama Co., Ltd. Class B (a)		145,619		202,993
Kangda International Environmental Co., Ltd. (a) (b) (c)		280,000		67,921
Kingdee International Software Group Co., Ltd. (b)		294,000		135,048
Kingsoft Corp., Ltd. (b)		137,000		335,511
Konka Group Co., Ltd. Class B		462,100		231,344
Kunlun Energy Co., Ltd.		506,000		450,494
KWG Property Holding, Ltd.		197,000		146,158
Lao Feng Xiang Co., Ltd. Class B		72,370		309,961
Launch Tech Co., Ltd. Class H (a)		25,000		34,709
Lenovo Group, Ltd. (b)		1,251,703		1,271,060
Leyou Technologies Holdings, Ltd. (a) (b)		290,800		28,141
Li Ning Co., Ltd. (a) (b)		363,874		197,192
Lifetech Scientific Corp. (a)		332,000		63,400
Livzon Pharmaceutical Group, Inc. Class H		23,790		114,497
Luoyang Glass Co., Ltd. Class H (a)		73,610		48,629
Luthai Textile Co., Ltd. Class B		60,400		83,779
Luye Pharma Group, Ltd. (a)		253,000		263,768
Maanshan Iron & Steel Co., Ltd. Class H (a) (b)		876,971		187,838
Metallurgical Corp. of China, Ltd. Class H		534,000		161,230
Mindray Medical International, Ltd. ADR		14,395		390,392
Minth Group, Ltd.		108,000		214,602
MOBI Development Co., Ltd.		594,000		81,242
Nanjing Panda Electronics Co., Ltd. Class H		40,000		39,328
NetEase, Inc. ADR		12,975		2,351,589
New China Life Insurance Co., Ltd. Class H		95,900		402,772
New Oriental Education & Technology Group, Inc. ADR		17,472		548,097
Noah Holdings, Ltd. ADS (a) (b)		3,097		86,499
Ourgame International Holdings, Ltd.		54,000		40,064
People’s Insurance Co. Group of China, Ltd. Class H		679,000		332,923
PetroChina Co., Ltd. Class H		3,119,208		2,044,551
Phoenix Healthcare Group Co., Ltd.		94,500		110,471
PICC Property & Casualty Co., Ltd. Class H		670,289		1,333,633
Ping An Insurance Group Co. of China, Ltd. Class H		714,728		3,965,511
Poly Culture Group Corp., Ltd. Class H		39,400		107,776
Poly Property Group Co., Ltd. (b)		338,000		110,339
Qihoo 360 Technology Co., Ltd. ADR (a) (b)		13,638		992,983
Qunar Cayman Islands, Ltd. ADR (a) (b)		6,053		319,235
Renhe Commercial Holdings Co., Ltd. (a) (b)		2,578,000		119,750
Semiconductor Manufacturing International Corp. (a)		7,187,837		732,681
Shandong Airlines Co., Ltd. Class B		28,500		91,860
Shandong Chenming Paper Holdings, Ltd. Class H		67,900		48,537
Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. Class H		82,000		131,197
Shandong Weigao Group Medical Polymer Co., Ltd. Class H		324,000		222,824
Shang Gong Group Co., Ltd. Class B (a)		164,100		212,017
Shanghai Baosight Software Co., Ltd. Class B		23,700		102,929
Shanghai Electric Group Co., Ltd. Class H (b)		580,418		307,803
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H		47,000		136,449
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H (b)		228,000		245,353
Shanghai Haixin Group Co. Class B		111,000		99,567
Shanghai Highly Group Co., Ltd. Class B		187,900		177,565
Shanghai Industrial Holdings, Ltd.		58,000		152,294
Shanghai Jinjiang International Industrial Investment Co., Ltd. Class B		18,700		44,469
Shanghai Jinjiang International Travel Co., Ltd. Class B		36,293		181,828
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class B		51,400		95,296
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B		85,513		348,123
Shanghai Mechanical and Electrical Industry Co., Ltd. Class B		65,925		204,302
Shanghai Pharmaceuticals Holding Co., Ltd. Class H		85,300		184,685
Shanghai Prime Machinery Co., Ltd. Class H		748,000		131,259
Shanghai Tonva Petrochemical Co., Ltd. Class H		250,000		31,935
Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. Class B		14,300		32,847
Shanghai Zhenhua Heavy Industries Co., Ltd. Class B (a)		141,000		84,036
Shengjing Bank Co., Ltd. Class H (b) (c)		29,000		37,419
Shenzhen Expressway Co., Ltd. Class H		40,000		35,354
Shenzhen Investment, Ltd.		382,000		178,920

17

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Shenzhou International Group Holdings, Ltd.		64,000	$	367,890
Shunfeng International Clean Energy, Ltd. (a)		284,700		72,367
SINA Corp. (a)		12,424		613,746
Sino-Ocean Land Holdings, Ltd.		1,038,711		666,102
Sinopec Oilfield Service Corp. Class H (a) (b)		262,000		68,626
Sinopec Shanghai Petrochemical Co., Ltd. Class H (a)		746,878		297,782
Sinopharm Group Co., Ltd. Class H		146,800		589,083
Sinotrans, Ltd. Class H		298,000		160,340
SITC International Holdings Co., Ltd. (b)		231,000		122,502
Sohu.com, Inc. (a)		4,973		284,406
SouFun Holdings, Ltd. ADR		32,194		237,914
SPT Energy Group, Inc. (a) (b)		306,000		28,033
Sun King Power Electronics Group (a)		191,400		31,364
Sunac China Holdings, Ltd.		351,000		271,737
Sunny Optical Technology Group Co., Ltd. (b)		133,800		307,648
Synertone Communication Corp. (a) (b)		1,371,600		21,237
TAL Education Group ADR (a)		7,740		359,678
TCL Multimedia Technology Holdings, Ltd. (b)		158,000		100,303
Tencent Holdings, Ltd.		810,470		15,947,649
Tian Ge Interactive Holdings, Ltd. (c)		80,000		33,341
Tianjin ZhongXin Pharmaceutical Group Corp., Ltd.		42,462		45,859
Tianneng Power International, Ltd. (a)		118,000		99,423
Tingyi Cayman Islands Holding Corp. (b)		474,383		676,977
Tong Ren Tang Technologies Co., Ltd. Class H		170,000		279,014
TravelSky Technology, Ltd. Class H (b)		134,000		220,620
Trina Solar, Ltd. ADR (a) (b)		15,160		167,063
Tsingtao Brewery Co., Ltd. Class H (b)		60,000		271,737
Uni-President China Holdings, Ltd. (b)		244,000		187,955
Universal Health International Group Holding, Ltd. (b)		288,000		111,482
Vipshop Holdings, Ltd. ADR (a)		45,708		697,961
Want Want China Holdings, Ltd. (b)		1,347,000		1,002,844
Weichai Power Co., Ltd. Class H		28,000		30,998
West China Cement, Ltd. (b)		468,000		96,617
Wisdom Sports Group (b)		192,000		129,567
Xiamen International Port Co., Ltd. Class H		150,000		36,580
Xinchen China Power Holdings, Ltd. (a) (b)		309,000		70,969
Xinjiang Goldwind Science & Technology Co., Ltd. Class H (b)		37,600		72,288
Xinyi Solar Holdings, Ltd. (b)		331,200		135,469
Yangzijiang Shipbuilding Holdings, Ltd. (b)		337,000		261,305
Yantai Changyu Pioneer Wine Co., Ltd. Class B		36,853		133,572
Yanzhou Coal Mining Co., Ltd. Class H (b)		464,882		217,141
Yestar International Holdings Co., Ltd. (b)		455,000		199,609
Youku Tudou, Inc. ADR (a)		18,703		507,412
YY, Inc. ADR (a)		4,386		273,993
Zhejiang Expressway Co., Ltd. Class H		262,000		315,070
Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H		66,800		30,943
Zhuzhou CSR Times Electric Co., Ltd. Class H		100,000		581,279
Zijin Mining Group Co., Ltd. Class H (b)		1,246,685		326,545
ZTE Corp. Class H		114,240		260,610
				175,206,162
HONG KONG — 2.5%
Alibaba Pictures Group, Ltd. (a) (b)		1,520,107		376,587
Asia Resources Holdings, Ltd. (a)		510,638		28,332
AVIC Joy Holdings HK, Ltd. (a)		727,134		25,801
Beijing Enterprises Clean Energy Group, Ltd. (a) (b)		2,196,600		178,559
Beijing Enterprises Medical & Health Group, Ltd. (a)		512,200		43,619
BEP International Holdings, Ltd.		1,240,000		103,998
Carnival Group International Holdings, Ltd. (a) (b)		1,260,000		162,577
CCT Land Holdings, Ltd. (a)		13,286,000		54,857
Chia Tai Enterprises International, Ltd. (a) (b)		18,500		6,445
Chiho-Tiande Group, Ltd. (a)		58,000		38,691
China All Access Holdings, Ltd.		224,000		75,147
China Beidahuang Industry Group Holdings, Ltd. Class A (a)		517,600		50,757
China Chengtong Development Group, Ltd. (a)		438,076		50,307
China Fiber Optic Network System Group, Ltd. (a) (b)		902,800		86,201
China Finance Investment Holdings, Ltd. (a)		808,750		21,914
China Financial International Investments, Ltd. (a) (b)		790,000		101,934
China Gas Holdings, Ltd. (b)		354,000		510,664
China High Speed Transmission Equipment Group Co., Ltd. (a)		228,000		183,573
China Jicheng Holdings, Ltd. (a) (c)		566,300		100,105
China Minsheng Drawin Technology Group, Ltd. (a)		521,658		32,982
China National Culture Group, Ltd. (a)		2,100,600		17,889
China Nuclear Energy Technology Corp., Ltd. (a)		124,000		27,999
China Ocean Shipbuilding Industry Group, Ltd. (a)		2,117,800		64,216
China Oil Gangran Energy Group Holdings, Ltd. (a)		1,508,200		31,720
China Overseas Property Holdings, Ltd. (a) (b)		302,361		49,547
China Precious Metal Resources Holdings Co., Ltd. (a) (b)		605,200		23,036
China Public Procurement, Ltd. (a) (b)		1,620,000		45,986
China Soft Power Technology Holdings, Ltd. (a)		462,000		35,171
Citychamp Watch & Jewellery Group, Ltd. (a)		560,000		94,656
Comba Telecom Systems Holdings, Ltd.		352,486		64,583
CP Pokphand Co., Ltd. (b)		1,050,000		111,095

18

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Dawnrays Pharmaceutical Holdings, Ltd.		160,000	$	124,281
Digital China Holdings, Ltd.		175,000		200,738
Essex Bio-technology, Ltd.		78,098		48,873
EVA Precision Industrial Holdings, Ltd.		508,000		90,455
Fullshare Holdings, Ltd. (a)		197,900		48,516
GCL-Poly Energy Holdings, Ltd. (b)		1,224,000		183,202
Global Bio-Chem Technology Group Co., Ltd. (a)		632,000		17,777
Haier Electronics Group Co., Ltd.		171,000		346,847
Hanergy Thin Film Power Group, Ltd. (a) (b)		5,962,000		—
Hang Fat Ginseng Holdings Co., Ltd. (b)		3,941,600		356,009
Hi Sun Technology China, Ltd. (a) (b)		396,000		73,067
Hua Han Bio-Pharmaceutical Holdings, Ltd. Class H (b)		1,178,400		164,213
Huabao International Holdings, Ltd.		321,000		117,215
Huajun Holdings, Ltd.		176,200		21,826
Imperial Pacific International Holdings, Ltd. (a) (b)		9,076,300		197,918
Joy City Property, Ltd.		554,000		84,349
Kingboard Chemical Holdings, Ltd.		151,200		241,525
Lee & Man Paper Manufacturing, Ltd.		289,000		161,464
Millennium Pacific Group Holdings, Ltd. (a)		143,000		22,880
National Agricultural Holdings, Ltd. (a)		168,000		72,835
NetDragon Websoft, Inc. (b)		63,000		174,364
Newtree Group Holdings, Ltd. (a)		142,000		47,821
Nine Dragons Paper Holdings, Ltd.		224,000		132,663
North Mining Shares Co., Ltd. (a) (b)		3,130,000		46,444
REXLot Holdings, Ltd. (b)		3,100,000		131,997
Shimao Property Holdings, Ltd.		201,500		358,273
SIM Technology Group, Ltd. (a)		529,600		30,409
Sino Biopharmaceutical, Ltd.		786,000		716,007
Sino-I Technology, Ltd. (a)		2,064,600		31,435
Skyworth Digital Holdings, Ltd.		314,835		205,553
SSY Group, Ltd. (b)		634,691		163,788
Sun Art Retail Group, Ltd. (b)		286,500		216,257
Suncorp Technologies, Ltd. (a)		2,100,000		33,599
Tack Fiori International Group, Ltd. (a)		312,000		80,515
Tech Pro Technology Development, Ltd. (a) (b)		2,084,800		476,132
Tibet 5100 Water Resources Holdings, Ltd. (b)		421,000		158,076
United Energy Group, Ltd. (a)		664,000		58,260
United Laboratories International Holdings, Ltd. (a)		162,000		89,673
Victory City International Holdings, Ltd.		707,461		72,114
Vinda International Holdings, Ltd. (b)		53,000		105,041
Vision Values Holdings, Ltd. (a)		600,000		38,709
Wasion Group Holdings, Ltd.		96,000		100,086
WH Group, Ltd. (a) (c)		1,126,500		629,374
Xinyi Glass Holdings, Ltd. (b)		410,000		241,234
Yuhua Energy Holdings, Ltd. (a)		130,700		17,876
				9,728,638
INDIA — 18.0%
Adani Ports & Special Economic Zone, Ltd.		139,432		549,877
Adani Power, Ltd. (a)		109,323		53,293
Adani Transmissions, Ltd. (a)		58,790		32,747
AIA Engineering, Ltd.		11,851		159,906
Ajanta Pharma, Ltd.		4,680		94,210
Alembic Pharmaceuticals, Ltd.		13,819		145,394
Apollo Hospitals Enterprise, Ltd.		38,666		857,088
Apollo Tyres, Ltd.		65,810		155,383
Arvind Infrastructure, Ltd. (a)		5,999		7,794
Arvind, Ltd.		38,906		210,655
Asian Paints, Ltd.		36,954		493,539
Aurobindo Pharma, Ltd.		47,313		626,454
Axis Bank, Ltd.		178,614		1,212,517
Bajaj Auto, Ltd.		8,338		319,121
Bajaj Finance, Ltd.		2,030		184,415
Bharat Electronics, Ltd.		12,420		257,407
Bharat Forge, Ltd.		18,777		253,175
Bharat Heavy Electricals, Ltd.		213,125		544,924
Bharat Petroleum Corp., Ltd.		20,569		277,430
Bharti Airtel, Ltd.		269,194		1,385,109
Bharti Infratel, Ltd.		69,284		448,340
Biocon, Ltd.		31,631		247,717
Bosch, Ltd.		994		280,186
Britannia Industries, Ltd.		3,388		151,910
Cadila Healthcare, Ltd.		36,724		181,826
Cipla, Ltd.		122,916		1,207,213
Coal India, Ltd.		187,336		933,901
Dabur India, Ltd.		49,020		205,213
DCB Bank, Ltd. (a)		100,875		124,500
DLF, Ltd.		90,447		158,592
Dr Reddy’s Laboratories, Ltd.		12,535		589,004
Eicher Motors, Ltd.		1,173		298,862
Emami, Ltd.		7,480		113,009
Escorts, Ltd.		67,424		175,194
GAIL India, Ltd.		63,500		360,039
Gillette India, Ltd.		1,275		89,933
Glenmark Pharmaceuticals, Ltd.		19,903		277,352
Godrej Consumer Products, Ltd.		21,831		435,391
Godrej Industries, Ltd.		25,742		147,550
Gujarat Mineral Development Corp., Ltd.		62,076		79,523
Gujarat Pipavav Port, Ltd. (a)		51,959		111,055
Havells India, Ltd.		49,369		227,382
HCL Technologies, Ltd.		69,395		896,962
HDFC Bank, Ltd.		227,809		3,726,383
Hero MotoCorp, Ltd.		16,621		676,862
Hindalco Industries, Ltd.		155,540		199,256
Hindustan Unilever, Ltd.		153,200		1,997,896
Hindustan Zinc, Ltd.		207,776		459,796
Housing Development & Infrastructure, Ltd. (a)		90,743		106,851
Housing Development Finance Corp., Ltd.		247,438		4,726,685
ICICI Bank, Ltd.		711		2,809
ICICI Bank, Ltd. ADR		247,033		1,934,268
Idea Cellular, Ltd.		272,963		592,705
IDFC, Ltd.		201,268		146,792
Indiabulls Housing Finance, Ltd.		81,990		913,021
Indian Hotels Co., Ltd. (a)		408,800		721,435
Indian Oil Corp., Ltd.		74,789		484,472
IndusInd Bank, Ltd.		34,829		510,119
Infosys, Ltd. ADR		311,235		5,213,186
ITC, Ltd. GDR (a)		271,623		1,344,806
Jaiprakash Associates, Ltd. (a)		434,167		78,097

19

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Jindal Steel & Power, Ltd. (a)		80,673	$	117,370
JSW Steel, Ltd.		20,505		319,928
Jubilant Foodworks, Ltd.		7,179		161,021
Just Dial, Ltd.		7,920		100,891
Kotak Mahindra Bank, Ltd.		98,334		1,070,275
KPIT Technologies, Ltd.		73,218		186,984
Larsen & Toubro, Ltd. GDR		43,049		835,151
LIC Housing Finance, Ltd.		52,089		401,595
Lupin, Ltd.		22,938		637,020
Mahindra & Mahindra Financial Services, Ltd.		51,836		189,734
Mahindra & Mahindra, Ltd.		78,913		1,517,694
Marico, Ltd.		33,306		113,854
Marico, Ltd. (a)		38,794		132,614
Marksans Pharma, Ltd.		138,995		219,976
Max India, Ltd.		21,284		163,403
Mindtree, Ltd.		9,187		199,102
Motherson Sumi Systems, Ltd.		56,098		248,580
NCC, Ltd.		106,909		122,493
Nestle India, Ltd.		2,965		261,200
NTPC, Ltd.		189,838		419,670
Oil & Natural Gas Corp., Ltd.		325,894		1,190,891
Page Industries, Ltd.		1,076		217,451
PI Industries, Ltd.		12,781		125,393
Power Finance Corp., Ltd.		56,993		173,504
Power Grid Corp. of India, Ltd.		121,386		258,987
Rajesh Exports, Ltd.		35,406		365,025
Reliance Capital, Ltd.		47,022		311,531
Reliance Communications, Ltd. (a)		264,320		352,593
Reliance Industries, Ltd. GDR (c)		131,915		4,037,918
Reliance Infrastructure, Ltd.		85,904		706,320
Rural Electrification Corp., Ltd.		53,311		182,562
Shriram City Union Finance, Ltd.		10,447		251,083
Shriram Transport Finance Co., Ltd.		25,188		326,937
Siemens, Ltd.		38,522		699,124
Sintex Industries, Ltd.		136,320		209,767
SKS Microfinance, Ltd. (a)		37,968		286,412
State Bank of India		237,402		805,440
Steel Authority of India, Ltd.		289,251		211,398
Strides Arcolab, Ltd.		9,591		186,923
Sun Pharma Advanced Research Co., Ltd. (a)		17,129		87,967
Sun Pharmaceutical Industries, Ltd.		162,970		2,020,366
Suzlon Energy, Ltd. (a)		455,348		143,509
Tata Consultancy Services, Ltd.		84,319		3,105,871
Tata Motors, Ltd. (a)		261,909		1,549,135
Tata Steel, Ltd.		48,259		189,516
Tech Mahindra, Ltd.		70,990		559,765
Torrent Pharmaceuticals, Ltd.		6,508		142,803
UltraTech Cement, Ltd.		8,662		364,064
United Breweries, Ltd.		10,513		150,577
United Spirits, Ltd. (a)		12,640		571,555
UPL, Ltd.		40,135		265,782
Vakrangee, Ltd.		122,352		322,727
Vedanta, Ltd.		171,585		234,464
Wipro, Ltd. ADR (b)		115,604		1,334,070
WNS Holdings, Ltd. ADR (a)		11,937		372,315
Wockhardt, Ltd.		6,174		142,665
Yes Bank, Ltd.		30,078		329,986
Zee Entertainment Enterprises, Ltd.		210,566		1,391,705
				70,993,187
INDONESIA — 3.8%
Ace Hardware Indonesia Tbk PT		2,721,100		162,852
Adaro Energy Tbk PT		3,297,600		123,197
AKR Corporindo Tbk PT		151,400		78,803
Astra International Tbk PT		3,509,600		1,527,573
Bank Central Asia Tbk PT		2,536,096		2,446,868
Bank Mandiri Persero Tbk PT		1,657,005		1,111,882
Bank Negara Indonesia Persero Tbk PT		635,000		229,862
Bank Rakyat Indonesia Persero Tbk PT		2,020,196		1,674,337
Charoen Pokphand Indonesia Tbk PT		428,100		80,744
Ciputra Surya Tbk PT		524,288		85,194
Citra Marga Nusaphala Persada Tbk PT (a)		409,444		72,325
Garda Tujuh Buana Tbk PT (a)		127,500		—
Garuda Indonesia Persero Tbk PT (a)		3,994,600		89,542
Gudang Garam Tbk PT		114,000		454,842
Indocement Tunggal Prakarsa Tbk PT		324,125		524,925
Indosat Tbk PT (a)		875,448		349,290
Intiland Development Tbk PT		1,440,200		51,089
Kalbe Farma Tbk PT		1,154,000		110,503
Kawasan Industri Jababeka Tbk PT		7,518,484		134,716
Lippo Cikarang Tbk PT (a)		374,600		197,015
Lippo Karawaci Tbk PT		1,893,500		142,167
Matahari Department Store Tbk PT		107,100		136,740
Matahari Putra Prima Tbk PT		520,100		68,856
Media Nusantara Citra Tbk PT		529,200		71,213
Metropolitan Land Tbk PT		2,407,712		37,552
Modernland Realty Tbk PT		6,525,800		221,077
Pakuwon Jati Tbk PT		2,605,800		93,760
Pembangunan Perumahan Persero Tbk PT		686,900		193,089
Perusahaan Gas Negara Persero Tbk PT		2,056,540		409,518
Semen Indonesia Persero Tbk PT		633,700		524,061
Summarecon Agung Tbk PT		986,900		118,127
Surya Semesta Internusa Tbk PT		1,569,700		81,417
Telekomunikasi Indonesia Persero Tbk PT		9,889,470		2,227,552
Tiga Pilar Sejahtera Food Tbk PT		1,042,900		91,542
Tower Bersama Infrastructure Tbk PT (a)		373,900		159,352
Unilever Indonesia Tbk PT		75,400		202,379
United Tractors Tbk PT		322,845		396,969
Wijaya Karya Persero Tbk PT		567,100		108,607
				14,789,537
MALAYSIA — 4.7%
7-Eleven Malaysia Holdings Bhd Class B		307,300		110,223
AEON Credit Service M Bhd		51,900		143,848
AirAsia Bhd		280,600		84,307
Alliance Financial Group Bhd		831,210		689,206
APM Automotive Holdings Bhd		80,800		72,454
Astro Malaysia Holdings Bhd		285,100		183,271
Axiata Group Bhd		540,679		807,209
Berjaya Auto Bhd		329,680		164,322
British American Tobacco Malaysia Bhd		18,300		239,027
Bursa Malaysia Bhd		278,534		541,693
Cahya Mata Sarawak Bhd		277,900		332,043

20

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Carlsberg Brewery Malaysia Bhd Class B		228,403	$	622,409
CB Industrial Product Holding Bhd		259,000		123,664
CIMB Group Holdings Bhd		446,958		472,619
Coastal Contracts Bhd		128,500		55,069
Dialog Group Bhd		728,900		271,629
Eastern & Oriental Bhd (a)		672,041		223,831
ECM Libra Financial Group Bhd		425,872		34,716
Eco World Development Group Bhd (a)		382,700		131,028
Genting Bhd		570,100		974,621
Genting Malaysia Bhd		631,400		644,121
IJM Corp. Bhd		1,270,580		1,000,247
Inari Amertron Bhd		164,862		175,863
IOI Corp. Bhd		807,996		839,330
IOI Properties Group Bhd		557,113		291,954
Karex Bhd		320,350		308,151
KNM Group Bhd (a)		1,040,300		123,571
Kuala Lumpur Kepong Bhd		61,700		328,798
Land & General Bhd		1,379,000		120,444
Landmarks Bhd (a)		1,888,900		439,944
Lingkaran Trans Kota Holdings Bhd		67,600		78,724
Malayan Banking Bhd		552,678		1,081,285
Maxis Bhd		426,700		675,803
Media Prima Bhd		347,000		102,641
MKH Bhd		185,200		103,524
Muhibbah Engineering M Bhd		351,600		180,980
Nam Cheong, Ltd. (b)		437,500		41,633
Oldtown Bhd		234,400		86,805
OSK Holdings Bhd		992,425		376,768
Padini Holdings Bhd		246,400		107,318
PPB Group Bhd		121,900		451,429
Press Metal Bhd		201,000		97,843
Prestariang Bhd		227,400		157,302
Public Bank Bhd		219,320		946,036
Salcon Bhd		747,200		107,899
SapuraKencana Petroleum Bhd		247,100		116,255
Silverlake Axis, Ltd. (b)		258,800		120,402
Sime Darby Bhd		404,905		730,875
TA Enterprise Bhd		842,000		116,686
Tambun Indah Land Bhd		476,600		156,517
Telekom Malaysia Bhd		165,409		261,203
Tenaga Nasional Bhd		381,650		1,184,017
TSH Resources Bhd		242,100		110,520
UEM Edgenta Bhd		103,700		79,946
Uzma Bhd		153,600		71,550
Wah Seong Corp. Bhd		790,100		175,741
Yinson Holdings Bhd		178,500		121,813
				18,391,127
PHILIPPINES — 2.6%
ABS-CBN Holdings Corp.		212,500		283,153
Alliance Global Group, Inc.		906,400		310,127
Ayala Land, Inc.		1,843,388		1,349,585
BDO Unibank, Inc.		192,240		428,970
Belle Corp.		1,644,200		101,681
Bloomberry Resorts Corp.		520,900		50,258
Cebu Air, Inc.		71,800		125,656
Cebu Holdings, Inc.		1,169,000		128,688
Cosco Capital, Inc.		2,078,700		362,243
D&L Industries, Inc.		1,839,000		357,600
DoubleDragon Properties Corp.		594,700		308,377
First Gen Corp.		1,345,870		646,407
First Philippine Holdings Corp.		489,117		676,168
Globe Telecom, Inc.		2,705		106,464
GMA Holdings, Inc.		201,600		30,933
GT Capital Holdings, Inc.		8,065		226,242
JG Summit Holdings, Inc.		391,440		609,766
Jollibee Foods Corp.		51,530		239,827
LT Group, Inc.		617,900		194,083
Megawide Construction Corp. (a)		1,513,018		199,356
Metro Pacific Investments Corp.		1,474,000		162,890
Nickel Asia Corp.		803,684		106,748
Pepsi-Cola Products Philippines, Inc.		1,348,000		105,422
Philex Mining Corp.		1,036,900		96,958
Philippine Long Distance Telephone Co.		25,269		1,106,240
Puregold Price Club, Inc.		385,700		284,429
Robinsons Retail Holdings, Inc.		195,810		262,162
SM Investments Corp.		13,990		256,877
SM Prime Holdings, Inc.		1,195,500		551,320
Universal Robina Corp.		109,300		432,043
				10,100,673
SINGAPORE — 0.0% (d)
SIIC Environment Holdings, Ltd. (a) (b)		180,399		97,279
TAIWAN — 20.1%
Acer, Inc. (a)		838,395		308,843
Advanced Semiconductor Engineering, Inc.		1,191,636		1,378,578
Advantech Co., Ltd.		53,000		341,264
Airtac International Group		11,900		55,067
Asia Cement Corp.		1,085,073		905,136
Asustek Computer, Inc.		146,138		1,210,142
AU Optronics Corp. ADR		192,784		561,001
Catcher Technology Co., Ltd.		131,539		1,105,269
Cathay Financial Holding Co., Ltd.		1,584,604		2,233,603
Center Laboratories, Inc. (a)		54,900		124,184
Chang Hwa Commercial Bank, Ltd.		2,213,781		1,058,129
China Development Financial Holding Corp.		3,868,272		969,217
China Life Insurance Co., Ltd.		275,000		211,397
China Steel Chemical Corp.		32,877		106,597
China Steel Corp.		2,459,625		1,344,119
Chlitina Holding, Ltd.		27,000		282,355
Chunghwa Telecom Co., Ltd.		503,268		1,518,369
Coland Holdings, Ltd.		131,411		220,039
Compal Electronics, Inc.		1,205,431		678,920
CTBC Financial Holding Co., Ltd.		3,282,255		1,688,742
Delta Electronics, Inc.		390,787		1,850,013
E.Sun Financial Holding Co., Ltd.		458,854		267,515
Eclat Textile Co., Ltd.		25,000		345,161
eMemory Technology, Inc.		16,000		180,230
Epistar Corp.		259,170		201,201
Everlight Electronics Co., Ltd.		197,996		287,829
Far Eastern New Century Corp.		1,380,170		1,081,967
Far EasTone Telecommunications Co., Ltd.		199,000		409,547
Feng TAY Enterprise Co., Ltd.		28,770		147,148
Firich Enterprises Co., Ltd.		40,359		112,057
First Financial Holding Co., Ltd.		2,795,099		1,301,946
Formosa Chemicals & Fibre Corp.		836,691		1,884,956
Formosa Petrochemical Corp.		255,000		611,745
Formosa Plastics Corp.		1,013,137		2,374,998

21

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Foxconn Technology Co., Ltd.		279,277	$	591,764
Fubon Financial Holding Co., Ltd.		1,305,998		1,789,202
Giant Manufacturing Co., Ltd.		34,000		226,687
Hermes Microvision, Inc.		12,000		436,570
Himax Technologies, Inc. ADR		22,855		187,411
Hiwin Technologies Corp.		24,620		97,065
Hon Hai Precision Industry Co., Ltd.		2,198,773		5,408,739
Hotai Motor Co., Ltd.		50,000		578,439
HTC Corp.		144,710		343,635
Hua Nan Financial Holdings Co., Ltd.		2,641,972		1,226,598
Innolux Corp.		1,154,753		349,446
Inotera Memories, Inc. (a)		341,000		290,162
Inventec Corp.		451,000		295,889
King Yuan Electronics Co., Ltd.		1,137,898		746,543
Largan Precision Co., Ltd.		18,710		1,293,016
Lite-On Technology Corp.		720,066		698,210
Macronix International (a)		1,729,374		251,664
Makalot Industrial Co., Ltd.		27,119		192,368
MediaTek, Inc.		236,219		1,797,873
Medigen Biotechnology Corp. (a)		28,000		72,883
Mega Financial Holding Co., Ltd.		2,519,148		1,629,735
Merry Electronics Co., Ltd.		30,000		53,521
MIN AIK Technology Co., Ltd.		46,000		79,825
Motech Industries, Inc. (a)		157,507		216,742
Nan Ya Plastics Corp.		1,103,759		2,049,785
Novatek Microelectronics Corp.		180,062		707,157
PChome Online, Inc.		17,010		170,374
Pegatron Corp.		416,630		913,245
Pou Chen Corp.		289,000		379,210
Powertech Technology, Inc.		340,518		675,915
President Chain Store Corp.		62,000		387,889
ProMOS Technologies, Inc. (a)		1,135,850		—
Quanta Computer, Inc.		654,194		1,055,569
Radiant Opto-Electronics Corp.		55,000		126,252
Realtek Semiconductor Corp.		234,161		561,040
Shin Kong Financial Holding Co., Ltd.		3,011,980		655,635
Silicon Motion Technology Corp. ADR (b)		4,346		136,291
Siliconware Precision Industries Co., Ltd.		511,763		814,845
SinoPac Financial Holdings Co., Ltd.		3,562,723		1,016,309
Synnex Technology International Corp.		255,000		248,813
Tainan Enterprises Co., Ltd.		640,830		574,556
Taishin Financial Holding Co., Ltd.		3,247,715		1,127,164
Taiwan Cement Corp.		920,216		764,816
Taiwan FU Hsing Industrial Co., Ltd.		253,000		335,824
Taiwan Mobile Co., Ltd.		337,200		1,026,578
Taiwan Paiho, Ltd.		28,000		62,057
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		534,055		12,149,751
Tatung Co., Ltd. (a)		965,107		163,951
Teco Electric and Machinery Co., Ltd.		206,000		164,940
TPK Holding Co., Ltd.		34,000		85,396
Tripod Technology Corp.		470,361		801,906
Uni-President Enterprises Corp.		1,022,971		1,709,779
United Integrated Services Co., Ltd.		655,194		847,741
United Microelectronics Corp. ADR (b)		697,846		1,311,950
Walsin Lihwa Corp. (a)		642,000		143,461
Wistron Corp.		911,695		516,258
Yageo Corp.		292,564		473,846
Yuanta Financial Holding Co., Ltd.		2,110,383		780,624
				79,150,198
THAILAND — 4.0%
Advanced Info Service PCL		219,602		927,595
Airports of Thailand PCL		45,700		439,411
Bangkok Expressway & Metro PCL (a)		12,233,599		1,284,190
Bank of Ayudhya PCL NVDR		220,200		182,047
BEC World PCL		156,800		132,900
Big C Supercenter PCL NVDR		33,700		189,173
Big C Supercenter PCL		1,000		5,613
Bumrungrad Hospital PCL		46,200		270,896
Central Plaza Hotel PCL		63,500		77,643
Charoen Pokphand Foods PCL		304,400		154,801
Chularat Hospital PCL		2,531,100		187,098
CP ALL PCL		968,800		1,056,701
E for L Aim PCL		3,722,200		79,647
Electricity Generating PCL		292,918		1,233,210
Energy Absolute PCL		298,200		186,453
Gunkul Engineering PCL		307,425		184,532
Hana Microelectronics PCL		135,400		134,516
Ichitan Group PCL		175,700		60,056
Indorama Ventures PCL		218,700		129,451
IRPC PCL		3,914,739		467,789
Jasmine International PCL		805,025		72,482
Kasikornbank PCL		73,654		305,996
KCE Electronics PCL		206,200		401,112
MC Group PCL		390,600		130,254
Mega Lifesciences PCL		298,100		136,686
Minor International PCL		394,480		397,385
Nok Airlines PCL (a)		515,400		97,394
PTT Exploration & Production PCL (b)		404,032		642,791
PTT Global Chemical PCL		102,500		142,420
PTT PCL		144,955		982,882
Raimon Land PCL (a)		4,352,100		151,178
Siam Cement PCL		64,000		818,119
Siam Commercial Bank PCL		309,997		1,029,447
SNC Former PCL		53,000		20,178
Somboon Advance Technology PCL		216,700		97,556
Srisawad Power 1979 PCL		316,694		420,235
Superblock PCL NVDR (a)		1,330,900		43,272
SVI PCL (a)		1,266,300		173,133
Thai Beverage PCL		1,291,000		627,914
Thai Oil PCL (b)		505,064		926,337
Thai Union Group PCL		282,500		135,029
TMB Bank PCL		2,601,000		174,918
True Corp. PCL (a)		1,383,200		257,536
				15,567,976
TOTAL COMMON STOCKS (Cost $423,734,245)				394,024,777
WARRANTS — 0.0% (d)
MALAYSIA — 0.0% (d)
CB Industrial Product Holding Bhd (expiring 11/6/19) (a)		51,233		4,177
Eastern & Oriental Bhd (expiring 7/21/19) (a)		239,431		9,759
Inari Amertron Bhd (expiring 2/17/20) (a)		22,862		14,164
KNM Group Bhd (expiring 4/21/20) (a)		113,700		3,310
OSK Holdings Bhd (expiring 7/22/20) (a)		399,231		28,825
				60,235

22

SPDR S&P Emerging Asia Pacific ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
THAILAND — 0.0% (d)
Minor International PCL (expiring 11/3/17) (a)		17,860	$	2,631
Raimon Land PCL (expiring 6/14/18) (a)		1,981,075		8,808
Srisawad Power 1979 PCL (expiring 6/11/20) (a)		20,188		7,013
				18,452
TOTAL WARRANTS (Cost $9,367)				78,687
RIGHTS — 0.0% (d)
HONG KONG — 0.0% (d)
GCL-Poly Energy Holdings, Ltd. (expiring 1/20/16) (a) (Cost: $0)		267,200		1,379
SHORT-TERM INVESTMENTS — 6.2%
UNITED STATES — 6.2%
State Street Navigator Securities Lending Prime Portfolio (e) (f)		20,398,376		20,398,376
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g)		4,185,277		4,185,277
TOTAL SHORT-TERM INVESTMENTS (Cost $24,583,653)				24,583,653
TOTAL INVESTMENTS — 106.4% (Cost $448,327,265)				418,688,496
LIABILITIES IN EXCESS OF OTHER ASSETS — (6.4)%				(25,252,531	)
NET ASSETS — 100.0%			$	393,435,965

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 1.7% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Amount shown represents less than 0.05% of net assets.

(e) Investment of cash collateral for securities loaned

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

ADS = American Depositary Shares

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

23

SPDR S&P Russia ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.0%
CYPRUS — 0.7%
Globaltrans Investment PLC GDR (a) (b)		5,586	$	25,416
Globaltrans Investment PLC GDR (a) (b)		27,258		124,024
				149,440
LUXEMBOURG — 0.2%
O’Key Group SA GDR (b)		4,817		9,634
O’Key Group SA GDR (b)		12,424		24,848
				34,482
NETHERLANDS — 0.6%
VimpelCom, Ltd. ADR		39,285		128,855
RUSSIA — 96.4%
CTC Media, Inc.		39,222		72,561
Etalon Group, Ltd. GDR		29,753		53,258
Evraz PLC (a)		40,978		44,241
Exillon Energy PLC (a)		33,808		53,318
Gazprom Neft PAO ADR		15,809		168,366
Gazprom PAO ADR		856,807		3,163,760
Lenta, Ltd. GDR (a)		45,936		310,068
LSR Group PJSC GDR (b)		16,326		32,652
LSR Group PJSC GDR (b)		37,718		75,436
Lukoil PJSC ADR		68,434		2,203,575
Magnit PJSC GDR		30,587		1,230,209
Magnitogorsk Iron & Steel Works OJSC GDR		34,023		113,467
Mail.Ru Group, Ltd. GDR (a)		19,969		450,301
Mechel ADR (a)		80,044		65,460
MegaFon PJSC GDR		22,367		260,576
MMC Norilsk Nickel PJSC ADR		82,610		1,046,256
Mobile TeleSystems PJSC ADR		92,485		571,557
Novatek OAO GDR (b)		960		78,864
Novatek OAO GDR (b)		12,388		1,017,674
Novolipetsk Steel OJSC GDR (b)		1,505		12,808
Novolipetsk Steel OJSC GDR (b)		15,036		127,956
PhosAgro OAO GDR		16,094		206,808
PIK Group PJSC GDR (b)		13,760		39,973
PIK Group PJSC GDR (b)		59,385		172,513
Polymetal International PLC		39,667		341,729
QIWI PLC ADR		6,352		114,018
Rosneft OAO GDR (b)		2,918		10,143
Rosneft OAO GDR (b)		204,563		711,061
Rostelecom PJSC ADR (b)		46,823		348,831
Rostelecom PJSC ADR (b)		3,500		25,854
RusHydro PJSC ADR (b)		288,055		275,381
RusHydro PJSC ADR (b)		1,612		1,499
Sberbank of Russia PJSC ADR (b)		260,443		1,531,405
Sberbank of Russia PJSC ADR (b)		153,635		889,547
Severstal PAO GDR (b)		2,151		17,993
Severstal PAO GDR (b)		37,667		315,084
Sistema JSFC GDR		34,499		203,544
Surgutneftegas OAO ADR (b)		129,203		768,758
Surgutneftegas OAO ADR (b)		177,979		821,017
Tatneft PAO ADR		41,534		1,094,421
TMK PAO GDR		15,833		50,666
United Co. RUSAL PLC		375,000		114,675
Uralkali PJSC GDR (a)		14,301		173,292
VTB Bank PJSC GDR		483,954		1,020,659
X5 Retail Group NV GDR (a)		20,649		391,298
Yandex NV Class A (a)		37,495		589,421
				21,381,953
UNITED STATES — 1.1%
Luxoft Holding, Inc. (a)		3,234		249,438
TOTAL COMMON STOCKS (Cost $37,506,772)				21,944,168
SHORT-TERM INVESTMENT — 0.3%
UNITED STATES — 0.3%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d) (Cost $68,118)		68,118		68,118
TOTAL INVESTMENTS — 99.3% (Cost $37,574,890)				22,012,286
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.7%				157,302
NET ASSETS — 100.0%			$	22,169,588

(a) Non-income producing security

(b) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

24

SPDR S&P China ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.1%
AEROSPACE & DEFENSE — 0.2%
AviChina Industry & Technology Co., Ltd. Class H		1,876,000	$	1,476,565
AIR FREIGHT & LOGISTICS — 0.1%
Sinotrans, Ltd. Class H		984,000		529,445
AIRLINES — 0.4%
Air China, Ltd. Class H		1,906,000		1,502,637
China Eastern Airlines Corp., Ltd. Class H (a)		1,726,000		982,131
China Southern Airlines Co., Ltd. Class H		1,390,000		1,072,521
Shandong Airlines Co., Ltd. Class B		106,000		341,655
				3,898,944
AUTO COMPONENTS — 0.3%
Minth Group, Ltd.		680,000		1,351,200
Xinchen China Power Holdings, Ltd. (a) (b)		765,000		175,700
Xinyi Glass Holdings, Ltd. (b)		1,598,000		940,224
				2,467,124
AUTOMOBILES — 2.1%
BAIC Motor Corp., Ltd. Class H (c)		1,172,000		1,173,489
Brilliance China Automotive Holdings, Ltd.		1,682,000		2,116,024
Byd Co., Ltd. Class H (a) (b)		478,500		2,633,243
Chongqing Changan Automobile Co., Ltd. Class B		666,600		1,470,792
Dongfeng Motor Group Co., Ltd. Class H		2,277,300		3,044,177
Geely Automobile Holdings, Ltd.		4,090,000		2,179,532
Great Wall Motor Co., Ltd. Class H		2,499,000		2,911,682
Guangzhou Automobile Group Co., Ltd. Class H		1,990,637		1,774,843
Qingling Motors Co., Ltd. Class H		2,868,000		891,838
				18,195,620
BANKS — 16.3%
Agricultural Bank of China, Ltd. Class H		18,308,000		7,488,418
Bank of China, Ltd. Class H		53,041,700		23,680,094
Bank of Chongqing Co., Ltd. Class H		2,040,500		1,840,364
Bank of Communications Co., Ltd. Class H		15,839,824		11,159,195
China CITIC Bank Corp., Ltd. Class H (a)		7,724,471		5,003,367
China Construction Bank Corp. Class H		65,748,623		45,047,539
China Merchants Bank Co., Ltd. Class H		3,254,235		7,684,045
China Minsheng Banking Corp., Ltd. Class H		5,046,300		5,000,624
Chongqing Rural Commercial Bank Co., Ltd. Class H		2,130,000		1,288,969
Harbin Bank Co., Ltd. Class H (b) (c)		4,166,000		1,300,842
Huishang Bank Corp., Ltd. Class H		1,989,000		900,807
Industrial & Commercial Bank of China, Ltd. Class H		53,579,789		32,354,653
Shengjing Bank Co., Ltd. Class H (b) (c)		610,000		787,081
				143,535,998
BEVERAGES — 0.2%
Tibet 5100 Water Resources Holdings, Ltd. (b)		1,699,000		637,935
Tsingtao Brewery Co., Ltd. Class H (b)		243,000		1,100,533
				1,738,468
BIOTECHNOLOGY — 0.1%
China Biologic Products, Inc. (a) (b)		4,600		655,316
BUILDING PRODUCTS — 0.0% (d)
China Lesso Group Holdings, Ltd.		440,000		307,142
CAPITAL MARKETS — 2.5%
Central China Securities Co., Ltd. Class H		444,000		242,906
China Cinda Asset Management Co., Ltd. Class H		9,258,200		3,428,454
China Everbright, Ltd.		702,000		1,614,116
China Financial International Investments, Ltd. (a) (b)		4,850,000		625,794
China Galaxy Securities Co., Ltd. Class H (b)		2,279,000		2,087,818
China Huarong Asset Management Co., Ltd. (a) (c)		957,000		379,088
CITIC Securities Co., Ltd. Class H (b)		1,502,000		3,511,705
GF Securities Co., Ltd. Class H (a) (b)		1,155,200		2,900,614
Guotai Junan International Holdings, Ltd. (b)		2,094,000		734,912
Haitong Securities Co., Ltd. Class H		2,161,000		3,820,016
Huatai Securities Co., Ltd. Class H (a) (c)		737,200		1,719,783
Noah Holdings, Ltd. ADS (a) (b)		17,717		494,836
Shenwan Hongyuan HK, Ltd. (b)		610,000		304,601
				21,864,643
CHEMICALS — 0.4%
China BlueChemical, Ltd. Class H		2,328,000		633,804
China Lumena New Materials Corp. (a) (b)		3,654,548		—
Fufeng Group, Ltd. (b)		655,000		295,801
Huabao International Holdings, Ltd.		1,573,000		574,388
Sinopec Shanghai Petrochemical Co., Ltd. Class H (a)		2,929,999		1,168,196
Yingde Gases Group Co., Ltd.		1,272,500		587,802
				3,259,991
COMMERCIAL SERVICES & SUPPLIES — 0.4%
China Everbright International, Ltd.		2,124,000		2,729,630
Dongjiang Environmental Co., Ltd. Class H (b)		181,800		308,233
Yestar International Holdings Co., Ltd. (b)		845,000		370,702
				3,408,565
COMMUNICATIONS EQUIPMENT — 0.5%
BYD Electronic International Co., Ltd. (a) (b)		592,000		317,764
China All Access Holdings, Ltd. (b)		1,274,000		427,398
China Fiber Optic Network System Group, Ltd. (a) (b)		1,155,600		110,339
Comba Telecom Systems Holdings, Ltd.		1,230,273		225,414
Shanghai Potevio Co., Ltd. Class B (a)		264,700		607,751
SIM Technology Group, Ltd. (a)		4,330,000		248,621
Suncorp Technologies, Ltd. (a) (b)		9,380,000		150,077

25

SPDR S&P China ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Yangtze Optical Fibre and Cable Joint Stock, Ltd. Co. Class H (c)		321,500	$	389,941
ZTE Corp. Class H		733,997		1,674,428
				4,151,733
CONSTRUCTION & ENGINEERING — 1.3%
China Communications Construction Co., Ltd. Class H		3,212,394		3,282,796
China Machinery Engineering Corp. Class H		560,000		411,141
China Railway Construction Corp., Ltd. Class H		1,331,875		1,651,493
China Railway Group, Ltd. Class H		2,934,000		2,229,797
China Singyes Solar Technologies Holdings, Ltd. (a) (b)		358,000		257,293
China State Construction International Holdings, Ltd.		1,202,000		2,087,562
Concord New Energy Group, Ltd. (b)		4,270,000		256,195
Metallurgical Corp. of China, Ltd. Class H		1,946,000		587,555
Sinopec Engineering Group Co., Ltd. Class H		1,153,000		984,866
				11,748,698
CONSTRUCTION MATERIALS — 0.7%
Anhui Conch Cement Co., Ltd. Class H (b)		1,081,000		2,908,182
BBMG Corp. Class H		746,500		507,610
China National Building Material Co., Ltd. Class H (b)		2,948,000		1,415,013
China Resources Cement Holdings, Ltd.		937,163		287,794
China Shanshui Cement Group, Ltd. (a) (b)		1,913,000		776,293
CSG Holding Co., Ltd. Class B		388,000		358,956
Dongpeng Holdings Co., Ltd.		635,000		247,440
				6,501,288
CONSUMER FINANCE — 0.1%
China Financial Services Holdings, Ltd.		3,170,000		216,783
Credit China Holdings, Ltd. (b)		1,800,000		703,728
				920,511
CONTAINERS & PACKAGING — 0.2%
AMVIG Holdings, Ltd.		1,470,000		610,750
Beijing Enterprises Clean Energy Group, Ltd. (a) (b)		9,920,000		806,384
Greatview Aseptic Packaging Co., Ltd.		557,000		252,262
				1,669,396
DISTRIBUTORS — 0.1%
Hang Fat Ginseng Holdings Co., Ltd. (b)		7,320,000		661,149
Xinhua Winshare Publishing and Media Co., Ltd. Class H		713,000		651,347
				1,312,496
DIVERSIFIED CONSUMER SERVICES — 0.7%
Fu Shou Yuan International Group, Ltd.		754,000		586,650
New Oriental Education & Technology Group, Inc. ADR		115,776		3,631,893
TAL Education Group ADR (a)		50,694		2,355,750
				6,574,293
DIVERSIFIED FINANCIAL SERVICES — 0.1%
Far East Horizon, Ltd.		1,218,000		1,133,111
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.3%
China Communications Services Corp., Ltd. Class H		3,677,600		1,380,853
China Telecom Corp., Ltd. Class H		10,286,951		4,831,455
China Unicom Hong Kong, Ltd.		4,059,805		4,950,247
CITIC Telecom International Holdings, Ltd. (b)		1,400,000		534,699
				11,697,254
ELECTRICAL EQUIPMENT — 0.9%
Boer Power Holdings, Ltd. (a) (b)		230,000		414,289
China High Speed Transmission Equipment Group Co., Ltd. (a)		1,254,000		1,009,653
Dongfang Electric Corp., Ltd. Class H		288,600		293,808
Shanghai Electric Group Co., Ltd. Class H (b)		2,422,000		1,284,416
Tech Pro Technology Development, Ltd. (a) (b)		5,333,396		1,218,055
Xinjiang Goldwind Science & Technology Co., Ltd. Class H (b)		322,800		620,597
Zhuzhou CSR Times Electric Co., Ltd. Class H		466,000		2,708,760
				7,549,578
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 1.2%
AAC Technologies Holdings, Inc.		559,745		3,650,911
Anxin-China Holdings, Ltd. (a) (b)		3,068,000		75,214
AVIC International Holdings, Ltd. Class H		712,030		398,729
Digital China Holdings, Ltd.		862,000		988,778
Dongxu Optoelectronic Technology Co., Ltd. Class B		2,444,400		1,775,704
Ju Teng International Holdings, Ltd.		1,252,000		596,102
Kingboard Chemical Holdings, Ltd.		716,499		1,144,527
Sunny Optical Technology Group Co., Ltd. (b)		443,000		1,018,595
Wasion Group Holdings, Ltd.		438,000		456,642
				10,105,202
ENERGY EQUIPMENT & SERVICES — 0.2%
Anton Oilfield Services Group (a) (b)		924,000		89,418
China Oilfield Services, Ltd. Class H (b)		1,437,900		1,237,498
Hilong Holding, Ltd. (b)		670,000		116,707
Sinopec Oilfield Service Corp. Class H (a) (b)		1,524,000		399,182
				1,842,805
FOOD & STAPLES RETAILING — 0.4%
China Resources Beer Holdings Co., Ltd. (b)		927,751		1,987,144
Sun Art Retail Group, Ltd. (b)		1,647,500		1,243,573
Wumart Stores, Inc. Class H (a)		425,000		341,090
				3,571,807
FOOD PRODUCTS — 2.1%
Biostime International Holdings, Ltd. (b)		185,500		382,482
China Agri-Industries Holdings, Ltd. (a) (b)		1,877,600		644,428
China Huishan Dairy Holdings Co., Ltd. (b)		3,138,000		1,202,539

26

SPDR S&P China ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
China Huiyuan Juice Group, Ltd. (a)		848,000	$	388,431
China Mengniu Dairy Co., Ltd.		2,128,220		3,470,991
China Milk Products Group, Ltd. (a)		15,000		—
China Modern Dairy Holdings, Ltd. (b)		2,518,000		653,043
China Yurun Food Group, Ltd. (a) (b)		1,279,000		272,298
CP Pokphand Co., Ltd. (b)		3,844,000		406,712
Imperial Pacific International Holdings, Ltd. (a) (b)		35,150,300		766,489
Shenguan Holdings Group, Ltd.		1,706,000		248,741
Tingyi Cayman Islands Holding Corp. (b)		1,597,844		2,280,234
Uni-President China Holdings, Ltd. (b)		1,336,400		1,029,439
Want Want China Holdings, Ltd. (b)		5,057,933		3,765,640
WH Group, Ltd. (a) (c)		5,235,106		2,924,848
YuanShengTai Dairy Farm, Ltd. (a) (b)		2,355,000		188,396
				18,624,711
GAS UTILITIES — 0.5%
China Gas Holdings, Ltd. (b)		1,740,000		2,510,042
China Oil & Gas Group, Ltd. (a) (b)		2,736,000		187,104
China Resources Gas Group, Ltd.		703,000		2,099,888
				4,797,034
HEALTH CARE EQUIPMENT & SUPPLIES — 0.4%
Mindray Medical International, Ltd. ADR		76,162		2,065,513
Shandong Weigao Group Medical Polymer Co., Ltd. Class H		1,932,000		1,328,692
				3,394,205
HEALTH CARE PROVIDERS & SERVICES — 0.7%
China Jiuhao Health Industry Corp., Ltd.		1,470,000		199,157
Phoenix Healthcare Group Co., Ltd.		444,000		519,040
Shanghai Pharmaceuticals Holding Co., Ltd. Class H		752,000		1,628,170
Sinopharm Group Co., Ltd. Class H		838,800		3,365,958
Universal Health International Group Holding, Ltd. (b)		758,000		293,414
				6,005,739
HOTELS, RESTAURANTS & LEISURE — 0.5%
Ajisen China Holdings, Ltd.		464,000		205,952
China Lodging Group, Ltd. ADR		21,214		663,150
China Travel International Investment Hong Kong, Ltd.		3,184,000		1,339,308
Homeinns Hotel Group ADR (a)		17,448		596,024
Jinmao Investments and Jinmao China Investments Holdings, Ltd.		1,034,000		584,365
REXLot Holdings, Ltd. (b)		5,602,210		238,541
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H		1,278,187		539,302
				4,166,642
HOUSEHOLD DURABLES — 0.4%
Haier Electronics Group Co., Ltd.		1,076,000		2,182,502
Hisense Kelon Electrical Holdings Co., Ltd. Class H (a)		298,000		158,802
Skyworth Digital Holdings, Ltd.		1,985,001		1,295,989
				3,637,293
HOUSEHOLD PRODUCTS — 0.1%
Vinda International Holdings, Ltd. (b)		466,000		923,564
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 1.8%
Beijing Jingneng Clean Energy Co., Ltd. Class H (b)		1,418,000		503,152
CGN Power Co., Ltd. Class H (c)		8,435,000		3,156,261
China Datang Corp. Renewable Power Co., Ltd. Class H (a)		2,050,000		256,576
China Longyuan Power Group Corp., Ltd. Class H		2,512,000		1,896,118
China Power International Development, Ltd.		2,764,000		1,597,739
China Resources Power Holdings Co., Ltd.		1,442,092		2,805,978
Datang International Power Generation Co., Ltd. Class H		3,194,287		972,693
Huadian Fuxin Energy Corp., Ltd. Class H		1,960,000		561,434
Huadian Power International Corp., Ltd. Class H		1,184,000		771,495
Huaneng Power International, Inc. Class H		3,024,129		2,610,456
Huaneng Renewables Corp., Ltd. Class H		2,666,000		798,064
				15,929,966
INDUSTRIAL CONGLOMERATES — 1.4%
Beijing Enterprises Holdings, Ltd.		450,000		2,726,076
CITIC, Ltd.		4,663,000		8,254,855
Shanghai Industrial Holdings, Ltd.		332,000		871,751
				11,852,682
INSURANCE — 6.6%
China Life Insurance Co., Ltd. Class H		5,209,040		16,836,636
China Pacific Insurance Group Co., Ltd. Class H		1,700,000		6,997,284
China Taiping Insurance Holdings Co., Ltd. (a)		865,091		2,678,940
CNinsure, Inc. ADR (a)		31,185		289,397
New China Life Insurance Co., Ltd. Class H		438,700		1,842,504
People’s Insurance Co. Group of China, Ltd. Class H		5,229,000		2,563,847
PICC Property & Casualty Co., Ltd. Class H		3,430,858		6,826,168
Ping An Insurance Group Co. of China, Ltd. Class H		3,586,100		19,896,686
				57,931,462
INTERNET & CATALOG RETAIL — 3.8%
Ctrip.com International, Ltd. ADR (a)		208,190		9,645,443
E-Commerce China Dangdang, Inc. Class A, ADR (a)		59,509		427,870
JD.com, Inc. ADR (a)		574,151		18,524,982
Qunar Cayman Islands, Ltd. ADR (a) (b)		21,520		1,134,965
Vipshop Holdings, Ltd. ADR (a)		217,835		3,326,340
				33,059,600
INTERNET SOFTWARE & SERVICES — 22.7%
21Vianet Group, Inc. ADR (a)		47,236		998,569
58.com, Inc. ADR (a)		14,466		954,177
Alibaba Group Holding, Ltd. ADR (a)		769,401		62,529,219
Autohome, Inc. ADR (a)		12,880		449,770
Baidu, Inc. ADR (a)		188,890		35,707,766
Bitauto Holdings, Ltd. ADR (a)		22,700		641,956

27

SPDR S&P China ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
NetEase, Inc. ADR		56,437	$	10,228,642
Phoenix New Media, Ltd. ADR (a)		44,582		268,384
Qihoo 360 Technology Co., Ltd. ADR (a) (b)		67,145		4,888,827
SINA Corp. (a)		51,826		2,560,204
Sohu.com, Inc. (a)		32,191		1,841,003
SouFun Holdings, Ltd. ADR		138,166		1,021,047
Tencent Holdings, Ltd.		3,730,415		73,403,520
Youku Tudou, Inc. ADR (a)		93,343		2,532,396
YY, Inc. ADR (a)		21,386		1,335,983
				199,361,463
IT SERVICES — 0.3%
AGTech Holdings, Ltd. (a) (b)		1,772,000		461,854
Chinasoft International, Ltd. (a)		676,000		279,990
Hi Sun Technology China, Ltd. (a) (b)		1,680,000		309,981
TravelSky Technology, Ltd. Class H (b)		975,000		1,605,259
				2,657,084
MACHINERY — 1.4%
China Conch Venture Holdings, Ltd.		811,500		1,681,605
China Huarong Energy Co., Ltd. (a) (b)		2,899,500		91,286
China International Marine Containers Group Co., Ltd. Class H		621,100		1,136,391
CIMC Enric Holdings, Ltd. (b)		704,000		413,308
CRRC Corp., Ltd. Class H (b)		2,980,950		3,684,767
First Tractor Co., Ltd. Class H		552,000		354,698
Haitian International Holdings, Ltd.		725,000		1,058,947
Lonking Holdings, Ltd. (b)		2,660,000		387,838
Weichai Power Co., Ltd. Class H		1,183,840		1,310,600
Yangzijiang Shipbuilding Holdings, Ltd.		2,151,400		1,668,163
Zoomlion Heavy Industry Science and Technology Co., Ltd. Class H (b)		1,036,400		386,469
				12,174,072
MARINE — 0.3%
China COSCO Holdings Co., Ltd. Class H (a) (b)		1,705,175		774,464
China Shipping Container Lines Co., Ltd. Class H (a) (b)		2,525,500		703,868
China Shipping Development Co., Ltd. Class H (b)		889,800		591,275
SITC International Holdings Co., Ltd.		815,000		432,205
				2,501,812
MEDIA — 0.3%
Alibaba Pictures Group, Ltd. (a) (b)		6,940,000		1,719,296
Poly Culture Group Corp., Ltd. Class H		110,700		302,812
Wisdom Sports Group (b)		470,000		317,168
				2,339,276
METALS & MINING — 1.0%
Aluminum Corp. of China, Ltd. Class H (a) (b)		3,840,000		1,273,369
Angang Steel Co., Ltd. Class H (b)		1,225,720		496,605
China Hongqiao Group, Ltd. (b)		515,000		306,336
China Metal Recycling Holdings, Ltd. (a) (b)		268,085		—
China Molybdenum Co., Ltd. Class H (b)		4,020,000		752,115
China Precious Metal Resources Holdings Co., Ltd. (a) (b)		4,084,000		155,452
China Zhongwang Holdings, Ltd. (b)		969,200		497,721
Jiangxi Copper Co., Ltd. Class H		1,358,000		1,610,294
Maanshan Iron & Steel Co., Ltd. Class H (a) (b)		2,110,000		451,940
MMG, Ltd. (a) (b)		1,412,000		267,819
Shougang Fushan Resources Group, Ltd.		3,138,000		404,895
Zhaojin Mining Industry Co., Ltd. Class H (b)		1,061,000		599,625
Zijin Mining Group Co., Ltd. Class H (b)		6,342,750		1,661,359
				8,477,530
MULTILINE RETAIL — 0.2%
Golden Eagle Retail Group, Ltd. (b)		571,120		689,752
Intime Retail Group Co., Ltd.		800,500		789,123
Parkson Retail Group, Ltd.		1,707,500		222,521
				1,701,396
OIL, GAS & CONSUMABLE FUELS — 5.0%
China Coal Energy Co., Ltd. Class H (b)		3,400,013		1,302,947
China Petroleum & Chemical Corp. Class H		18,098,640		10,929,032
China Shenhua Energy Co., Ltd. Class H		2,549,200		4,006,278
China Suntien Green Energy Corp., Ltd. Class H (b)		1,155,000		184,796
CNOOC, Ltd.		11,688,174		12,170,547
Inner Mongolia Yitai Coal Co., Ltd. Class H (b)		1,162,100		812,705
Kunlun Energy Co., Ltd.		2,869,400		2,554,642
NewOcean Energy Holdings, Ltd. (b)		874,000		342,827
PetroChina Co., Ltd. Class H		14,698,930		9,634,725
Sinopec Kantons Holdings, Ltd.		1,222,000		726,879
United Energy Group, Ltd. (a)		3,056,000		268,134
Yanzhou Coal Mining Co., Ltd. Class H (b)		1,693,900		791,200
				43,724,712
PAPER & FOREST PRODUCTS — 0.3%
Lee & Man Paper Manufacturing, Ltd. (b)		2,168,000		1,211,259
Nine Dragons Paper Holdings, Ltd.		1,754,000		1,038,801
				2,250,060
PERSONAL PRODUCTS — 0.6%
Hengan International Group Co., Ltd.		585,000		5,525,312
PHARMACEUTICALS — 1.5%
China Animal Healthcare, Ltd. (a)		763,600		128,085
China Medical System Holdings, Ltd.		916,300		1,350,186
China Shineway Pharmaceutical Group, Ltd.		357,000		455,109
Consun Pharmaceutical Group, Ltd.		705,000		463,017
CSPC Pharmaceutical Group, Ltd.		1,830,000		1,870,106
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H (b)		234,000		662,735
Hua Han Bio-Pharmaceutical Holdings, Ltd. Class H (b)		4,448,400		619,894
Luye Pharma Group, Ltd. (a)		1,259,500		1,313,105

28

SPDR S&P China ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. Class H		228,000	$	364,793
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H		246,000		714,180
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H		556,000		598,316
Sihuan Pharmaceutical Holdings Group, Ltd.		311,000		40,128
Sino Biopharmaceutical, Ltd.		3,708,000		3,377,803
SSY Group, Ltd. (b)		1,970,332		508,463
Tong Ren Tang Technologies Co., Ltd. Class H (b)		447,000		733,643
				13,199,563
REAL ESTATE MANAGEMENT & DEVELOPMENT — 6.2%
Agile Property Holdings, Ltd. (b)		1,698,747		946,896
Beijing Capital Land, Ltd. Class H		988,000		452,559
Carnival Group International Holdings, Ltd. (a) (b)		8,326,800		1,074,405
China Jinmao Holdings Group, Ltd.		1,898,000		648,981
China Overseas Land & Investment, Ltd.		3,251,862		11,412,766
China Overseas Property Holdings, Ltd. (a) (b)		1,112,620		182,323
China Resources Land, Ltd.		2,140,555		6,242,014
China South City Holdings, Ltd. (b)		2,548,000		575,344
China Vanke Co., Ltd. Class H (b)		1,062,664		3,139,940
Colour Life Services Group Co., Ltd.		345,000		295,136
Country Garden Holdings Co., Ltd. (b)		6,430,500		2,638,528
Dalian Wanda Commercial Properties Co., Ltd. Class H (c)		478,100		2,791,433
E-House China Holdings, Ltd. ADR (b)		65,088		409,403
Evergrande Real Estate Group, Ltd. (b)		3,789,000		3,334,255
First Sponsor Group, Ltd.		729,941		648,310
Future Land Holdings Co., Ltd. Class A (a)		452,534		1,415,390
Greentown China Holdings, Ltd. (a) (b)		440,000		437,153
Guangzhou R&F Properties Co., Ltd. Class H (b)		1,053,424		1,298,065
Hopson Development Holdings, Ltd. (a)		432,000		430,319
Hydoo International Holding, Ltd. (b)		1,538,000		214,324
Kaisa Group Holdings, Ltd. (a) (b)		1,416,000		—
KWG Property Holding, Ltd. (b)		857,092		635,895
Longfor Properties Co., Ltd.		965,000		1,439,379
Poly Property Group Co., Ltd. (b)		1,523,000		497,176
Redco Properties Group, Ltd. (c)		304,000		223,583
Renhe Commercial Holdings Co., Ltd. (a) (b)		10,377,000		482,019
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class B		297,650		551,843
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B		399,200		1,625,143
Shenzhen Investment, Ltd.		2,069,432		969,276
Shimao Property Holdings, Ltd.		1,257,441		2,235,768
Shui On Land, Ltd. (b)		3,577,000		983,079
Sino-Ocean Land Holdings, Ltd.		3,724,212		2,388,255
SOHO China, Ltd. (a) (b)		1,097,000		532,212
Sunac China Holdings, Ltd.		1,368,300		1,059,309
Yanlord Land Group, Ltd. (b)		480,400		340,325
Yuexiu Property Co., Ltd.		7,430,000		1,284,646
Yuzhou Properties Co., Ltd.		2,971,840		805,257
				54,640,709
ROAD & RAIL — 0.3%
CAR, Inc. (a) (b)		941,300		1,559,491
Dazhong Transportation Group Co., Ltd. Class B		248,000		318,184
Guangshen Railway Co., Ltd. Class H (b)		1,570,000		783,972
				2,661,647
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.7%
China Soft Power Technology Holdings, Ltd. (a)		2,611,000		198,769
GCL-Poly Energy Holdings, Ltd. (b)		8,383,000		1,254,722
Hanergy Thin Film Power Group, Ltd. (a) (b)		18,461,376		—
JinkoSolar Holding Co., Ltd. ADR (a) (b)		16,203		448,337
Semiconductor Manufacturing International Corp. (a)		23,986,000		2,444,977
Shunfeng International Clean Energy, Ltd. (a)		676,000		171,831
Trina Solar, Ltd. ADR (a) (b)		64,826		714,383
Xinyi Solar Holdings, Ltd. (b)		2,810,000		1,149,358
				6,382,377
SOFTWARE — 0.4%
Boyaa Interactive International, Ltd. (b)		329,000		137,965
Cheetah Mobile, Inc. ADR (a) (b)		17,271		276,681
Kingdee International Software Group Co., Ltd. (b)		1,230,000		564,996
Kingsoft Corp., Ltd. (b)		600,000		1,469,391
NetDragon Websoft, Inc.		224,000		619,962
Shanghai Baosight Software Co., Ltd. Class B		157,400		683,588
V1 Group, Ltd. (b)		2,086,000		134,578
				3,887,161
SPECIALTY RETAIL — 0.4%
Baoxin Auto Group, Ltd.		750,000		469,346
BEP International Holdings, Ltd.		5,420,000		454,572
China Harmony New Energy Auto Holding, Ltd.		371,000		261,849
GOME Electrical Appliances Holding, Ltd.		8,290,279		1,379,903
Hengdeli Holdings, Ltd. (b)		3,048,895		444,540
Zhongsheng Group Holdings, Ltd. (b)		622,500		376,706
				3,386,916
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.7%
Coolpad Group, Ltd. (a)		2,820,000		563,989
Lenovo Group, Ltd. (b)		5,172,000		5,251,981
TCL Communication Technology Holdings, Ltd. (b)		416,000		306,492
				6,122,462
TEXTILES, APPAREL & LUXURY GOODS — 1.3%
ANTA Sports Products, Ltd.		724,000		1,989,794
Belle International Holdings, Ltd.		4,181,000		3,139,735

29

SPDR S&P China ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bosideng International Holdings, Ltd. (b)		3,870,000	$	334,561
China Dongxiang Group Co., Ltd.		3,643,000		869,603
China Jicheng Holdings, Ltd. (a) (c)		2,405,000		425,134
Cosmo Lady China Holdings Co., Ltd. (b) (c)		358,000		299,790
Lao Feng Xiang Co., Ltd. Class B		154,111		660,058
Li Ning Co., Ltd. (a) (b)		1,511,207		818,961
Shenzhou International Group Holdings, Ltd.		469,000		2,695,941
				11,233,577
TRADING COMPANIES & DISTRIBUTORS — 0.0% (d)
CITIC Resources Holdings, Ltd. (a) (b)		2,112,000		218,009
TRANSPORTATION INFRASTRUCTURE — 1.7%
Anhui Expressway Co., Ltd. Class H		618,000		526,287
Beijing Capital International Airport Co., Ltd. Class H		1,599,939		1,727,901
China Merchants Holdings International Co., Ltd.		1,435,828		4,566,771
COSCO International Holdings, Ltd.		732,000		388,189
COSCO Pacific, Ltd.		1,158,163		1,276,196
Dalian Port PDA Co., Ltd. Class H (b)		634,000		327,219
HNA Infrastructure Co., Ltd.		447,000		565,228
Jiangsu Expressway Co., Ltd. Class H		870,795		1,175,270
Qingdao Port International Co., Ltd. Class H (c)		1,029,000		459,390
Shenzhen Expressway Co., Ltd. Class H		770,000		680,567
Shenzhen International Holdings, Ltd.		788,795		1,459,497
Sichuan Expressway Co., Ltd. Class H (b)		972,000		347,405
Xiamen International Port Co., Ltd. Class H		1,185,000		288,981
Yuexiu Transport Infrastructure, Ltd. (b)		460,000		288,459
Zhejiang Expressway Co., Ltd. Class H		1,020,000		1,226,608
				15,303,968
WATER UTILITIES — 0.8%
Beijing Enterprises Water Group, Ltd. (a) (b)		3,778,000		2,646,986
CT Environmental Group, Ltd. (b)		2,114,400		692,964
Guangdong Investment, Ltd.		2,290,000		3,244,350
Kangda International Environmental Co., Ltd. (a) (b) (c)		902,000		218,804
				6,803,104
WIRELESS TELECOMMUNICATION SERVICES — 5.0%
China Mobile, Ltd.		3,860,004		43,579,847
TOTAL COMMON STOCKS (Cost $946,276,126)				878,570,948
RIGHTS — 0.0% (d)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.0% (d)
GCL-Poly Energy Holdings, Ltd. (expiring 1/20/16) (a) (Cost: $0)		1,676,600		8,654
SHORT-TERM INVESTMENTS — 7.9%
UNITED STATES — 7.9%
State Street Navigator Securities Lending Prime Portfolio (e) (f)		69,439,968		69,439,968
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g)		264,685		264,685
TOTAL SHORT-TERM INVESTMENTS (Cost $69,704,653)				69,704,653
TOTAL INVESTMENTS — 108.0% (Cost $1,015,980,779)				948,284,255
LIABILITIES IN EXCESS OF OTHER ASSETS — (8.0)%				(70,225,606	)
NET ASSETS — 100.0%			$	878,058,649

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 1.9% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Amount shown represents less than 0.05% of net assets.

(e) Investment of cash collateral for securities loaned

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

ADS = American Depositary Shares

30

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.0%
AEROSPACE & DEFENSE — 1.2%
AVIC Aero-Engine Controls Co., Ltd. Class A		700	$	3,409
AVIC Aircraft Co., Ltd. Class A		1,400		5,340
Avic Aviation Engine Corp. PLC Class A		800		5,548
AVIC Helicopter Co., Ltd. Class A		400		3,248
Changchun UP Optotech Co., Ltd. Class A		300		3,337
China Avionics Systems Co., Ltd. Class A		800		3,034
China Spacesat Co., Ltd. Class A		700		4,586
Sichuan Chengfa Aero-Science & Technology Co., Ltd. Class A		400		3,194
				31,696
AIR FREIGHT & LOGISTICS — 0.6%
Citic Offshore Helicopter Co., Ltd. Class A		1,300		2,959
Jiangsu Aucksun Co., Ltd. Class A		4,700		7,252
Sinotrans Air Transportation Development Co., Ltd. Class A		1,100		4,584
				14,795
AIRLINES — 1.1%
Air China, Ltd. Class A		3,000		3,964
China Eastern Airlines Corp., Ltd. Class A (a)		4,300		5,039
China Southern Airlines Co., Ltd. Class A		4,700		6,203
Hainan Airlines Co., Ltd. Class A		11,900		7,128
Spring Airlines Co., Ltd. Class A		700		6,576
				28,910
AUTO COMPONENTS — 1.7%
Anhui Zhongding Sealing Parts Co., Ltd. Class A		1,500		5,451
Fangda Special Steel Technology Co., Ltd. Class A		2,400		2,255
Fengfan Stock, Ltd. Co. Class A		1,000		7,246
Fuyao Glass Industry Group Co., Ltd. Class A		2,500		5,848
Greatoo Intelligent Equipment, Inc.		1,700		4,351
Huayu Automotive Systems Co., Ltd. Class A		1,700		4,414
Sailun Jinyu Group Co., Ltd. Class A		2,700		3,742
Wanxiang Qianchao Co., Ltd. Class A		1,300		4,530
Weifu High-Technology Group Co., Ltd. Class A		1,000		3,813
Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co., Ltd. Class A		400		3,010
				44,660
AUTOMOBILES — 1.3%
Anhui Jianghuai Automobile Co., Ltd. Class A		1,400		3,146
Beiqi Foton Motor Co., Ltd. Class A		5,300		5,166
Byd Co., Ltd. Class A (a)		700		6,942
Chongqing Changan Automobile Co., Ltd. Class A		2,200		5,749
FAW CAR Co., Ltd. Class A		1,500		3,781
Great Wall Motor Co., Ltd. Class A		2,300		4,265
Haima Automobile Group Co., Ltd. Class A (a)		4,100		4,041
				33,090
BANKS — 9.3%
Agricultural Bank of China, Ltd. Class A		38,400		19,101
Bank of Beijing Co., Ltd. Class A		1,900		3,081
Bank of China, Ltd. Class A		37,100		22,910
Bank of Communications Co., Ltd. Class A		12,800		12,694
Bank of Nanjing Co., Ltd. Class A		2,200		5,997
Bank of Ningbo Co., Ltd. Class A		3,000		7,166
China CITIC Bank Corp., Ltd. Class A (a)		3,200		3,558
China Everbright Bank Co., Ltd. Class A		20,300		13,255
China Merchants Bank Co., Ltd. Class A		10,300		28,535
China Minsheng Banking Corp., Ltd. Class A		14,500		21,526
Huaxia Bank Co., Ltd. Class A		6,100		11,404
Industrial & Commercial Bank of China, Ltd. Class A		15,600		11,003
Industrial Bank Co., Ltd. Class A		14,400		37,854
Ping An Bank Co., Ltd. Class A		7,100		13,110
Shanghai Pudong Development Bank Co., Ltd. Class A		11,400		32,074
				243,268
BEVERAGES — 2.9%
Beijing Yanjing Brewery Co., Ltd. Class A		3,200		4,056
Chongqing Brewery Co. Class A		2,200		5,417
Hainan Yedao Co., Ltd. Class A (a)		1,400		3,488
Hebei Hengshui Laobaigan Liquor Co., Ltd. Class A		300		2,780
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. Class A		500		5,277
Kweichow Moutai Co., Ltd. Class A		1,000		33,601
Luzhou Laojiao Co., Ltd. Class A		1,400		5,847
Qinghai Huzhu Barley Wine Co., Ltd. Class A		1,100		3,866
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A (a)		1,200		3,561
Tsingtao Brewery Co., Ltd. Class A		700		3,579
Zhejiang Guyuelongshan Shaoxing Wine Co., Ltd. Class A		2,100		3,554
				75,026
BIOTECHNOLOGY — 0.7%
Beijing SL Pharmaceutical Co., Ltd. Class A		600		3,096
Chengzhi Co., Ltd. Class A		900		3,545
Da An Gene Co., Ltd. of Sun Yat-Sen University Class A		600		3,805
Hualan Biological Engineering, Inc. Class A		500		3,388
Shanghai RAAS Blood Products Co., Ltd. Class A		900		5,512
				19,346
BUILDING PRODUCTS — 0.4%
Der Future Science & Technology Holding Group Co., Ltd. Class A		900		4,029
Shenzhen Bauing Construction Holding Group Co., Ltd. Class A (a)		1,700		2,942
Zhejiang Dun’An Artificial Environment Co., Ltd. Class A (a)		1,400		3,605
				10,576
CAPITAL MARKETS — 6.5%
Changjiang Securities Co., Ltd. Class A		3,700		7,077
China Merchants Securities Co., Ltd. Class A		3,700		12,364
CITIC Securities Co., Ltd. Class A		3,600		10,727
Dongxing Securities Co., Ltd. Class A		1,800		8,308
Everbright Securities Co., Ltd. Class A		2,100		7,419
GF Securities Co., Ltd. Class A		3,100		9,285
Guosen Securities Co., Ltd. Class A		2,300		6,995
Guotai Junan Securities Co., Ltd. Class A		2,600		9,569
Haitong Securities Co., Ltd. Class A		3,600		8,770

31

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Huatai Securities Co., Ltd. Class A		3,000	$	9,111
Industrial Securities Co., Ltd. Class A		4,300		7,284
Northeast Securities Co., Ltd. Class A		3,000		8,085
Orient Securities Co., Ltd. Class A		2,200		7,891
Pacific Securities Co., Ltd. Class A		5,900		8,922
Sealand Securities Co., Ltd. Class A		3,300		6,530
Shanxi Securities Co., Ltd. Class A		2,700		6,337
Shenwan Hongyuan Group Co., Ltd. Class A (a)		6,600		10,886
Sinolink Securities Co., Ltd. Class A		2,600		6,454
Southwest Securities Co., Ltd. Class A		5,500		8,385
Western Securities Co., Ltd. Class A		1,800		9,123
				169,522
CHEMICALS — 5.2%
Anhui Sierte Fertilizer Industry, Ltd. Co. Class A		1,300		2,524
Anhui Wanwei Updated High-Tech Material Industry Co., Ltd. Class A		4,100		4,262
Befar Group Co., Ltd. Class A		4,600		5,681
China Hainan Rubber Industry Group Co., Ltd. Class A		3,200		3,726
Hubei Biocause Pharmaceutical Co., Ltd. Class A (a)		2,700		4,474
Hubei Kaile Science & Technology Co., Ltd. Class A (a)		1,400		3,221
Hubei Xinyangfeng Fertilizer Co., Ltd. Class A (a)		700		3,282
Inner Mongolia Junzheng Energy & Chemical Industry Group Co., Ltd. Class A		2,200		3,879
Jiangsu Huifeng Agrochemical Co., Ltd. Class A		800		3,487
Jiangsu Kangde Xin Composite Material Co., Ltd. Class A		800		4,694
Jiangsu Protruly Vision Technology Group Co., Ltd. Class A (a)		1,500		3,805
Jiangsu Yangnong Chemical Co., Ltd. Class A		700		3,163
Jilin Gpro Titanium Industry Co., Ltd. Class A (a)		2,800		3,902
Kingenta Ecological Engineering Group Co., Ltd. Class A		1,100		3,446
Kingfa Sci & Tech Co., Ltd. Class A		3,000		3,973
Luxi Chemical Group Co., Ltd. Class A		3,600		3,842
Luxin Venture Capital Group Co., Ltd. Class A		700		4,212
Nanjing Redsun Co., Ltd. Class A		1,500		3,913
Qinghai Salt Lake Industry Co., Ltd. Class A		1,100		4,350
Shandong Hualu Hengsheng Chemical Co., Ltd. Class A		1,800		4,000
Shanghai 3F New Materials Co. Class A		1,600		4,095
Shanghai Chlor-Alkali Chemical Co., Ltd. Class A (a)		1,500		3,728
Shanghai Pret Composites Co., Ltd. Class A		900		4,377
Shenzhen Noposion Agrochemicals Co., Ltd. Class A		1,000		2,954
Sinoma Science & Technology Co., Ltd. Class A		900		3,689
Sinopec Shanghai Petrochemical Co., Ltd. Class A (a)		3,500		3,493
Tongkun Group Co., Ltd. Class A		1,500		3,038
Valiant Co., Ltd. Class A		1,300		8,114
Wanhua Chemical Group Co., Ltd. Class A		1,400		3,848
Xinjiang Xuefeng Sci-Tech Group Co., Ltd. Class A (a)		600		3,118
Yueyang Xingchang Petrochemical Class A		700		4,049
Zhejiang Huafeng Spandex Co., Ltd. Class A		3,200		3,198
Zhejiang Longsheng Group Co., Ltd. Class A		2,500		4,481
Zhejiang Shenghua Biok Biology Co., Ltd. Class A		3,000		4,837
				134,855
COMMERCIAL SERVICES & SUPPLIES — 1.2%
Beijing GeoEnviron Engineering & Technology, Inc. Class A		200		2,411
China Zhonghua Geotechnical Engineering Co., Ltd. Class A		1,400		2,930
Eternal Asia Supply Chain Management, Ltd. Class A (a)		800		5,675
Jihua Group Corp., Ltd. Class A		2,300		4,063
Shaanxi Jinye Science Technology & Education Group Co., Ltd. Class A		2,000		3,942
Shanghai Jielong Industry Group Corp., Ltd. Class A		600		2,893
Shenzhen Comix Group Co., Ltd. Class A		1,400		4,704
Tungkong, Inc. Class A		600		4,252
				30,870
COMMUNICATIONS EQUIPMENT — 1.3%
Addsino Co., Ltd. Class A (a)		1,000		2,934
Fiberhome Telecommunication Technologies Co., Ltd. Class A		1,100		4,829
Guangzhou Haige Communications Group, Inc. Co. Class A		1,600		4,112
Hengtong Optic-electric Co., Ltd. Class A		1,700		4,173
Shenzhen Coship Electronics Co., Ltd. Class A (a)		2,200		4,963
Shenzhen Keybridge Communications Co., Ltd. Class A		1,200		3,750
Tianjin Xinmao Science & Technology Co., Ltd. Class A (a)		1,000		3,556
ZTE Corp. Class A		2,000		5,738
				34,055
CONSTRUCTION & ENGINEERING — 3.8%
Black Peony Group Co., Ltd. Class A		1,300		2,408
Changjiang & Jinggong Steel Building Group Co., Ltd. Class A		2,500		2,314
Changshu Fengfan Power Equipment Co., Ltd. Class A		3,300		5,077
China Gezhouba Group Co., Ltd. Class A		4,400		5,333
China National Chemical Engineering Co., Ltd. Class A		4,200		4,457
China Railway Construction Corp., Ltd. Class A		4,800		9,964
China Railway Group, Ltd. Class A		9,800		16,480
China State Construction Engineering Corp., Ltd. Class A		13,600		13,278
East China Engineering Science and Technology Co., Ltd. Class A		1,000		3,280
Metallurgical Corp. of China, Ltd. Class A		11,600		10,754
Power Construction Corp. of China, Ltd. Class A		5,300		6,554
Shandong Longquan Pipeline Engineering Co., Ltd. Class A		1,000		2,670

32

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Shanghai Construction Group Co., Ltd. Class A		3,600	$	3,925
Shanghai Tunnel Engineering Co., Ltd. Class A		1,900		3,113
Shenzhen Tagen Group Co., Ltd. Class A		1,000		2,621
Sichuan Road & Bridge Co., Ltd. Class A		4,400		3,456
Suzhou Gold Mantis Construction Decoration Co., Ltd. Class A		1,300		3,740
				99,424
CONSTRUCTION MATERIALS — 0.7%
Anhui Chaodong Cement Co., Ltd. Class A (a)		700		3,294
Anhui Conch Cement Co., Ltd. Class A		1,700		4,477
East China Construction Group Co., Ltd. Class A (a)		700		2,667
Shandong Jinjing Science & Technology Co., Ltd. Class A (a)		4,700		4,423
Xishui Strong Year Co., Ltd. Inner Mongolia Class A		800		3,586
				18,447
CONTAINERS & PACKAGING — 0.8%
Jiangsu Shuangxing Color Plastic New Materials Co., Ltd. Class A		1,800		3,615
Kee Ever Bright Decorative Technology Co., Ltd. Class A (a)		400		5,006
Org Packaging Co., Ltd. Class A		1,200		5,222
Shanghai Zi Jiang Enterprise Group Co., Ltd. Class A		3,400		4,084
Zhejiang Great Southeast Co., Ltd. Class A (a)		2,000		3,003
				20,930
DISTRIBUTORS — 0.1%
Shanghai Shenhua Holdings Co., Ltd. Class A (a)		2,900		2,425
DIVERSIFIED CONSUMER SERVICES — 0.1%
Zhejiang Yasha Decoration Co., Ltd. Class A		1,200		2,914
DIVERSIFIED FINANCIAL SERVICES — 0.3%
Avic Capital Co., Ltd. Class A		2,100		5,039
Bohai Leasing Co., Ltd. Class A		2,900		4,028
				9,067
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.4%
263 Network Communications Co., Ltd. Class A		1,700		5,495
Dr Peng Telecom & Media Group Co., Ltd. Class A		1,000		3,653
				9,148
ELECTRIC UTILITIES — 0.2%
Xinjiang Tianfu Energy Co., Ltd. Class A		3,200		4,834
ELECTRICAL EQUIPMENT — 4.5%
Anhui Xinlong Electrical Co., Ltd. (a)		1,100		3,254
Beijing Sifang Automation Co., Ltd. Class A		1,200		2,454
China XD Electric Co., Ltd. Class A		3,700		3,880
Citychamp Dartong Co., Ltd. Class A		2,100		2,826
Dongfang Electric Corp., Ltd. Class A		1,400		2,939
Dongfang Electronics Co., Ltd. Class A (a)		5,600		6,373
Fangda Carbon New Material Co., Ltd. Class A (a)		1,800		3,468
GuangDong Huasheng Electrical Appliances Co., Ltd. Class A		800		4,513
Guangdong Nan Yang Cable Group Holding Co., Ltd. Class A		5,500		11,731
Jiangsu Leike Defense Technology Co., Ltd. Class A (a)		1,100		10,291
Jiangsu SINOJIT Wind Energy Technology Co., Ltd. Class A		6,300		6,782
Luxshare Precision Industry Co., Ltd. Class A		800		3,936
Nanjing Kangni Mechanical & Electrical Co., Ltd. Class A		700		3,099
NARI Technology Co., Ltd. Class A		1,600		4,110
Ningbo Sanxing Electric Co., Ltd. Class A		1,100		2,570
Rongxin Power Electronic Co., Ltd. Class A (a)		900		3,555
Shanghai Electric Group Co., Ltd. Class A		2,700		4,798
Shenzhen Hifuture Electric Co., Ltd. Class A (a)		2,500		4,554
Shenzhen Invt Electric Co., Ltd. Class A		1,700		2,961
Shenzhen Woer Heat-Shrinkable Material Co., Ltd. Class A		800		2,824
Sieyuan Electric Co., Ltd. Class A		2,100		5,139
TBEA Co., Ltd. Class A		2,000		3,625
Tongling Jingda Special Magnet Wire Co., Ltd. Class A		6,000		5,960
Xinjiang Goldwind Science & Technology Co., Ltd. Class A		1,700		5,966
Zhefu Holding Group Co., Ltd. Class A		2,400		3,009
Zhejiang Wanma Co., Ltd. Class A		800		3,708
				118,325
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.5%
Accelink Technologies Co., Ltd. Class A		400		3,994
Beijing SDL Technology Co., Ltd. Class A		700		2,931
Beijing Zhong Ke San Huan High-Tech Co., Ltd. Class A		1,300		2,809
China Security & Fire Co., Ltd. Class A		1,000		4,441
Dongxu Optoelectronic Technology Co., Ltd. Class A		2,100		2,936
Fujian Torch Electron Technology Co., Ltd. Class A		600		7,927
GoerTek, Inc. Class A		1,000		5,328
Hangzhou Hikvision Digital Technology Co., Ltd. Class A		2,200		11,651
Hengdian Group DMEGC Magnetics Co., Ltd. Class A		1,100		4,762
IRICO Display Devices Co., Ltd. Class A (a)		1,500		2,504
Ningbo Yunsheng Group Co., Ltd. Class A		900		3,027
Shen Zhen Mindata Holding Co., Ltd. Class A (a)		1,400		4,959
Shenzhen Deren Electronic Co., Ltd. Class A		500		2,977
Shenzhen Fastprint Circuit Tech Co., Ltd. Class A		900		2,668
Shenzhen Infinova, Ltd. Class A		1,700		3,555
Shenzhen Mason Technologies Co., Ltd. Class A		800		5,316
Shenzhen Sunlord Electronics Co., Ltd. Class A (a)		1,900		4,199
TDG Holdings Co., Ltd. Class A (a)		1,700		3,846
Tongfang Guoxin Electronics Co., Ltd. Class A		400		3,705

33

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
WUS Printed Circuit Kunshan Co., Ltd. Class A (a)		3,400	$	3,382
Zhejiang Dahua Technology Co., Ltd. Class A		700		3,978
				90,895
ENERGY EQUIPMENT & SERVICES — 0.6%
China Oilfield Services, Ltd. Class A		1,100		2,629
Offshore Oil Engineering Co., Ltd. Class A		3,100		4,273
Yantai Jereh Oilfield Services Group Co., Ltd. Class A		900		3,518
Zhejiang Kingland Pipeline & Technologies Co., Ltd. Class A		2,300		6,297
				16,717
FOOD & STAPLES RETAILING — 0.3%
Shenzhen Agricultural Products Co., Ltd. Class A		1,300		3,542
Yonghui Superstores Co., Ltd. Class A		2,800		4,355
				7,897
FOOD PRODUCTS — 2.8%
Angel Yeast Co., Ltd. Class A		600		2,811
Baotou Huazi Industry Co., Ltd. Class A		1,500		4,830
Beijing Dabeinong Technology Group Co., Ltd. Class A		2,300		4,325
Bright Dairy & Food Co., Ltd. Class A		1,100		2,697
Chacha Food Co., Ltd. Class A		1,500		4,324
COFCO Tunhe Co., Ltd. Class A		1,300		2,893
Gansu Yasheng Industrial Group Co., Ltd. Class A		2,800		3,165
Henan Lotus Flower Gourmet Powder Co., Ltd. Class A (a)		3,000		3,710
Henan Shuanghui Investment & Development Co., Ltd. Class A		2,600		8,172
Hunan Dakang Pasture Farming Co., Ltd. Class A (a)		3,200		4,184
Inner Mongolia Yili Industrial Group Co., Ltd. Class A		3,800		9,615
Jonjee High-Tech Industrial And Commercial Holding Co., Ltd. Class A		1,400		3,374
MeiHua Holdings Group Co., Ltd. Class A		2,800		3,941
Shanghai Maling Aquarius Co., Ltd. Class A		1,400		3,051
Xinjiang Guannong Fruit & Antler Group Co., Ltd. Class A		1,800		3,132
Yuan Longping High-tech Agriculture Co., Ltd. Class A		1,400		5,120
Zhangzidao Group Co., Ltd. Class A (a)		1,400		2,945
				72,289
HEALTH CARE EQUIPMENT & SUPPLIES — 0.1%
Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Class A (a)		400		2,368
HEALTH CARE PROVIDERS & SERVICES — 0.3%
Huadong Medicine Co., Ltd. Class A		300		3,787
Shanghai Pharmaceuticals Holding Co., Ltd. Class A		1,200		3,679
				7,466
HOTELS, RESTAURANTS & LEISURE — 0.7%
China High-Speed Railway Technology Co., Ltd. Class A (a)		3,300		5,986
China International Travel Service Corp., Ltd. Class A		600		5,480
Shenzhen Overseas Chinese Town Co., Ltd. Class A		4,200		5,692
				17,158
HOUSEHOLD DURABLES — 1.8%
Anhui Deli Household Glass Co., Ltd. Class A (a)		4,200		11,092
Guangzhou Holike Creative Home Co., Ltd. Class A		600		3,140
Hisense Electric Co., Ltd. Class A		1,600		4,847
Markor International Home Furnishings Co., Ltd. Class A		1,100		2,646
Midea Group Co., Ltd. Class A		2,400		12,130
NavInfo Co., Ltd. Class A		600		3,585
TCL Corp. Class A		9,700		6,364
Wuxi Little Swan Co., Ltd. Class A		900		3,326
				47,130
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 3.0%
An Hui Wenergy Co., Ltd. Class A		2,210		2,882
Beijing Jingneng Power Co., Ltd. Class A		3,300		3,085
China National Nuclear Power Co., Ltd. Class A (a)		7,000		10,284
China Yangtze Power Co., Ltd. Class A		3,900		8,144
Datang Huayin Electric Power Co., Ltd. Class A (a)		2,100		2,762
GD Power Development Co., Ltd. Class A		11,100		6,718
Guangdong Baolihua New Energy Stock Co., Ltd. Class A		1,800		2,711
Huadian Power International Corp., Ltd. Class A		4,300		4,503
Huaneng Power International, Inc. Class A		2,900		3,899
Hubei Energy Group Co., Ltd. Class A		3,200		3,026
Inner Mongolia MengDian HuaNeng Thermal Power Corp., Ltd. Class A		5,600		3,855
SDIC Power Holdings Co., Ltd. Class A		4,000		5,143
Shanghai Electric Power Co., Ltd. Class A		1,600		3,627
Shanxi Zhangze Electric Power Co., Ltd. Class A (a)		4,200		3,732
Shenergy Co., Ltd. Class A		3,900		4,534
Shenzhen Energy Group Co., Ltd. Class A		2,700		4,079
Sichuan Chuantou Energy Co., Ltd. Class A		3,800		6,297
				79,281
INDUSTRIAL CONGLOMERATES — 0.2%
China Baoan Group Co., Ltd. Class A		1,500		4,149
INSURANCE — 2.3%
China Life Insurance Co., Ltd. Class A		2,200		9,591
China Pacific Insurance Group Co., Ltd. Class A		3,300		14,667
New China Life Insurance Co., Ltd. Class A		700		5,628
Ping An Insurance Group Co. of China, Ltd. Class A		5,200		28,828
				58,714
INTERNET SOFTWARE & SERVICES — 0.5%
Dawning Information Industry Co., Ltd. Class A		200		2,808
Focus Technology Co., Ltd. Class A		300		4,436
People.cn Co., Ltd. Class A		900		3,161
Shanghai DZH, Ltd. Class A (a)		1,800		3,554
				13,959

34

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
IT SERVICES — 0.3%
DHC Software Co., Ltd. Class A		1,200	$	4,638
Fujian Rongji Software Co., Ltd. Class A		1,200		4,426
				9,064
LEISURE EQUIPMENT & PRODUCTS — 0.3%
Guangdong Alpha Animation and Culture Co., Ltd. Class A		900		7,167
MACHINERY — 5.5%
Anhui Ankai Automobile Co., Ltd. Class A (a)		2,500		3,680
Anhui Heli Co., Ltd. Class A		1,900		3,906
China CSSC Holdings, Ltd. Class A		800		4,291
China First Heavy Industries Class A		3,800		4,664
China Shipbuilding Industry Co., Ltd. Class A		9,200		13,318
CRRC Corp., Ltd. Class A		11,800		23,351
Fujian Longking Co., Ltd. Class A		1,000		2,661
Fujian Longma Environmental Sanitation Equipment Co., Ltd. Class A		700		4,282
Han’s Laser Technology Industry Group Co., Ltd. Class A		900		3,588
Hefei Meiya Optoelectronic Technology, Inc. Class A		500		3,107
Jiangsu Hengli Highpressure Oil Cylinder Co., Ltd. Class A		1,200		3,068
Jiangsu Nonghua Intelligent Agriculture Technology Co., Ltd. Class A		1,900		2,440
Linzhou Heavy Machinery Group Co., Ltd. Class A		1,700		3,212
Mesnac Co., Ltd. Class A		1,300		3,383
North Navigation Control Technology Co., Ltd. Class A		600		2,652
Sanlux Co., Ltd. Class A		2,000		6,690
Sany Heavy Industry Co., Ltd. Class A		3,900		3,952
Shanghai Mechanical and Electrical Industry Co., Ltd. Class A		800		3,734
Shanghai STEP Electric Corp. Class A		700		2,370
Shanghai Zhenhua Heavy Industries Co., Ltd. Class A (a)		3,100		2,850
Shantui Construction Machinery Co., Ltd. Class A (a)		3,200		3,770
Sunward Intelligent Equipment Co., Ltd. Class A		2,600		4,340
Suzhou Thvow Technology Co., Ltd. Class A (a)		2,600		4,877
Taiyuan Heavy Industry Co., Ltd. Class A (a)		4,600		4,066
Tian Di Science & Technology Co., Ltd. Class A		3,000		3,155
Tianjin Benefo Tejing Electric Co., Ltd. Class A		1,100		3,002
Weihai Guangtai Airport Equipment Co., Ltd. Class A		700		3,272
XCMG Construction Machinery Co., Ltd. Class A		4,400		2,880
Xiamen XGMA Machinery Co., Ltd. Class A (a)		2,000		2,877
Zhengzhou Yutong Bus Co., Ltd. Class A		1,500		5,195
Zoomlion Heavy Industry Science and Technology Co., Ltd. Class A		4,700		3,872
				142,505
MEDIA — 2.2%
Beijing Gehua CATV Network Co., Ltd. Class A		1,000		3,316
China South Publishing & Media Group Co., Ltd. Class A		1,300		4,785
China Television Media, Ltd. Class A		700		3,246
Chinese Universe Publishing and Media Co., Ltd. Class A		1,000		3,617
Contemporary Eastern Investment Co., Ltd. Class A (a)		1,300		6,987
Guangdong Advertising Group Co., Ltd. Class A		1,100		4,260
Huawen Media Investment Corp. Class A		1,700		3,935
Jiangsu Broadcasting Cable Information Network Corp., Ltd. Class A		1,100		3,483
Jiangsu Phoenix Publishing & Media Corp., Ltd. Class A		1,500		3,680
Jishi Media Co., Ltd. Class A		3,500		3,331
Shanghai Oriental Pearl Media Co., Ltd. Class A		1,500		8,752
Shenzhen Topway Video Communication Co., Ltd. Class A		1,400		4,786
Wanda Cinema Line Co., Ltd. Class A		200		3,696
				57,874
METALS & MINING — 4.8%
Advanced Technology & Materials Co., Ltd. Class A (a)		2,100		4,198
Aluminum Corp. of China, Ltd. Class A (a)		7,100		5,434
Anhui Xinke New Materials Co., Ltd. Class A (a)		4,500		3,756
Anyang Iron & Steel, Inc. Class A (a)		12,900		6,278
Baoshan Iron & Steel Co., Ltd. Class A		4,400		3,781
Beijing Kingee Culture Development Co., Ltd. Class A		700		3,532
China Northern Rare Earth Group High-Tech Co., Ltd. Class A		2,400		5,182
Hunan Gold Corp., Ltd. Class A (a)		4,800		6,645
Hunan Valin Steel Co., Ltd. Class A (a)		7,700		3,866
Inner Mongolia BaoTou Steel Union Co., Ltd. Class A (a)		15,500		8,617
Jiangyin Zhongnan Heavy Industries Co., Ltd. Class A		1,300		5,616
Maanshan Iron & Steel Co., Ltd. Class A (a)		7,400		3,590
Ningxia Xinri Hengli Steel Wire Co., Ltd. Class A (a)		1,100		3,935
Pangang Group Vanadium Titanium & Resources Co., Ltd. Class A (a)		8,400		4,747
SGIS Songshan Co., Ltd. Class A (a)		3,700		2,843
Shandong Gold Mining Co., Ltd. Class A		1,600		5,174
Shandong Humon Smelting Co., Ltd. Class A		3,100		4,764
Shandong Iron and Steel Co., Ltd. Class A (a)		7,200		3,448
Shanghai Prosolar Resources Development Co., Ltd. Class A (a)		2,300		5,224
Shanxi Taigang Stainless Steel Co., Ltd. Class A (a)		4,600		2,904
Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. Class A		1,700		3,673
Tongling Nonferrous Metals Group Co., Ltd. Class A		10,600		5,844
Western Mining Co., Ltd. Class A		5,700		6,487
Wuhan Iron & Steel Co., Ltd. Class A		7,600		4,061

35

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Zhongjin Gold Corp., Ltd. Class A		3,500	$	5,352
Zijin Mining Group Co., Ltd. Class A		10,400		5,638
				124,589
MULTILINE RETAIL — 1.6%
Beijing Capital Retailing Group Co., Ltd. Class A		1,800		3,080
Changchun Sinoenergy Corp. Class A (a)		1,400		5,800
Chengdu Hongqi Chain Co., Ltd. Class A		2,800		3,324
Dalian Friendship Group Class A		4,200		12,470
Hunan Friendship & Apollo Cmmericial Co., Ltd. Class A		2,000		4,278
Rainbow Department Store Co., Ltd. Class A		1,700		3,534
Shanghai Yimin Commerce Group Co., Ltd. Class A		3,100		4,201
Wuhan Department Store Group Co., Ltd. Class A		1,600		5,273
				41,960
OIL, GAS & CONSUMABLE FUELS — 2.0%
China Merchants Energy Shipping Co., Ltd. Class A		4,000		4,367
China Petroleum & Chemical Corp. Class A		4,700		3,590
China Shenhua Energy Co., Ltd. Class A		1,900		4,380
Guanghui Energy Co., Ltd. Class A		4,600		4,725
Jizhong Energy Resources Co., Ltd. Class A		4,100		3,182
Oriental Energy Co., Ltd. Class A		700		2,520
PetroChina Co., Ltd. Class A		4,500		5,787
Shanxi Lanhua Sci-Tech Venture Co., Ltd. Class A		6,800		8,409
Shanxi Xishan Coal & Electricity Power Co., Ltd. Class A		7,000		6,554
Wintime Energy Co., Ltd. Class A		6,200		4,554
Yang Quan Coal Industry Group Co., Ltd. Class A (a)		3,400		3,383
				51,451
PAPER & FOREST PRODUCTS — 0.5%
DeHua TB New Decoration Materials Co., Ltd. Class A		1,300		2,817
Guangdong Weihua Corp. Class A (a)		3,000		6,320
Sichuan Guodong Construction Co., Ltd. Class A		5,200		4,148
				13,285
PHARMACEUTICALS — 4.9%
Beijing Tongrentang Co., Ltd. Class A		1,000		6,870
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. Class A		1,000		4,204
Dong-E-E-Jiao Co., Ltd. Class A		700		5,638
Guangdong Zhongsheng Pharmaceutical Co., Ltd. Class A		1,900		3,874
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class A		600		2,797
Guizhou Bailing Group Pharmaceutical Co., Ltd. Class A		800		3,161
Harbin Gloria Pharmaceuticals Co., Ltd. Class A		800		3,727
Harbin Pharmaceutical Group Co., Ltd. Class A		1,700		3,123
Huapont Life Sciences Co., Ltd. Class A		1,500		3,269
Humanwell Healthcare Group Co., Ltd. Class A		1,000		3,428
Jiangsu Hengrui Medicine Co., Ltd. Class A		1,000		7,564
Jilin Aodong Pharmaceutical Group Co., Ltd. Class A		1,100		5,243
Joincare Pharmaceutical Group Industry Co., Ltd. Class A		1,400		2,980
Kangmei Pharmaceutical Co., Ltd. Class A		2,600		6,787
Renhe Pharmacy Co., Ltd. Class A		1,800		2,930
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class A		1,100		3,979
Shenzhen Hepalink Pharmaceutical Co., Ltd. Class A		800		4,357
Shenzhen Salubris Pharmaceuticals Co., Ltd. Class A		800		3,711
Shijiazhuang Yiling Pharmaceutical Co., Ltd. Class A		900		2,513
Sichuan Kelun Pharmaceutical Co., Ltd. Class A		1,100		3,151
Tasly Pharmaceutical Group Co., Ltd. Class A		600		3,781
Tianjin Lisheng Pharmaceutical Co., Ltd. Class A		900		6,694
Tonghua Dongbao Pharmaceutical Co., Ltd. Class A		800		3,347
Yabao Pharmaceutical Group Co., Ltd. Class A		1,500		3,608
Yunnan Baiyao Group Co., Ltd. Class A		600		6,710
Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. Class A		400		4,237
Zhejiang Hisoar Pharmaceutical Co., Ltd. Class A		800		2,938
Zhejiang Yatai Pharmaceutical Co., Ltd. Class A		1,800		9,821
Zhongzhu Holding Co., Ltd. Class A		1,000		3,687
				128,129
PROFESSIONAL SERVICES — 0.1%
Pubang Landscape Architecture Co., Ltd. Class A		1,900		2,323
REAL ESTATE MANAGEMENT & DEVELOPMENT — 6.1%
Beijing Capital Development Co., Ltd. Class A		1,600		3,080
Beijing Centergate Technologies Holding Co., Ltd. Class A (a)		3,200		6,258
Beijing Urban Construction Investment & Development Co., Ltd. Class A		1,500		3,382
China Fortune Land Development Co., Ltd. Class A		1,400		6,623
China Merchants Shekou Industrial Zone Co., Ltd.		2,721		8,741
China Vanke Co., Ltd. Class A		5,600		21,068
Chongqing Dima Industry Co., Ltd. Class A		3,600		6,475
Financial Street Holdings Co., Ltd. Class A		3,200		5,682
Gemdale Corp. Class A		2,700		5,738
Guangdong Shirongzhaoye Co., Ltd. Class A		1,900		3,959
Huafa Industrial Co., Ltd. Zhuhai Class A		1,700		4,267
Hubei Fuxing Science And Technology Co., Ltd. Class A		1,700		4,409
Jinke Properties Group Co., Ltd. Class A		4,100		3,334
Lushang Property Co., Ltd. Class A (a)		3,200		4,529
Myhome Real Estate Development Group Co., Ltd. Class A (a)		3,600		2,750
Oceanwide Holdings Co., Ltd. Class A		2,600		5,025
Poly Real Estate Group Co., Ltd. Class A		5,400		8,848

36

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
RiseSun Real Estate Development Co., Ltd. Class A		2,600	$	3,816
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class A		800		6,177
Shanghai SMI Holding Co., Ltd. Class A		1,800		6,420
Shanghai Wanye Enterprises Co., Ltd. Class A		2,200		5,350
Shanghai Zhangjiang High-Tech Park Development Co., Ltd. Class A		1,300		5,772
Shenzhen World Union Properties Consultancy, Inc. Class A		1,500		3,749
Shenzhen Zhenye Group Co., Ltd. Class A		2,100		3,722
Thaihot Group Co., Ltd. Class A		800		3,018
Xinhu Zhongbao Co., Ltd. Class A		6,000		4,407
Yihua Healthcare Co., Ltd. Class A (a)		500		2,934
Zhejiang China Commodities City Group Co., Ltd. Class A		4,100		5,802
Zhongtian Urban Development Group Co., Ltd. Class A		3,000		4,213
				159,548
ROAD & RAIL — 0.5%
Daqin Railway Co., Ltd. Class A		7,400		9,823
Guangshen Railway Co., Ltd. Class A		4,300		3,318
				13,141
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.1%
Beijing Jingyuntong Technology Co., Ltd. Class A		2,500		3,165
EGing Photovoltaic Technology Co., Ltd. Class A		1,800		4,152
Hangzhou Silan Microelectronics Co., Ltd. Class A		4,200		5,724
Sanan Optoelectronics Co., Ltd. Class A		1,400		5,235
Shanghai Belling Co., Ltd. Class A		1,300		4,242
Tianjin Zhonghuan Semiconductor Co., Ltd. Class A		1,800		3,387
Xi’an LONGi Silicon Materials Corp. Class A		1,800		3,784
				29,689
SOFTWARE — 1.6%
Beijing Shiji Information Technology Co., Ltd. Class A		200		4,651
China National Software & Service Co., Ltd. Class A		500		2,778
Glodon Software Co., Ltd. Class A		1,000		2,800
Hangzhou Liaison Interactive Information Technology Co., Ltd. Class A		400		3,782
Hundsun Technologies, Inc. Class A		400		3,756
Iflytek Co., Ltd. Class A		900		5,135
Neusoft Corp. Class A		1,200		5,738
Shanghai 2345 Network Holding Group Co., Ltd. Class A		600		3,419
Sinodata Co., Ltd. Class A		300		3,695
Yonyou Network Technology Co., Ltd. Class A		1,100		5,388
				41,142
SPECIALTY RETAIL — 0.9%
Haining China Leather Market Co., Ltd. Class A		1,500		3,544
Jiangsu Hongtu High Technology Co., Ltd. Class A		1,500		4,486
Pang Da Automobile Trade Co., Ltd. Class A (a)		5,700		3,441
Shanghai Yuyuan Tourist Mart Co., Ltd. Class A		1,500		3,733
Suning Commerce Group Co., Ltd. Class A		4,300		8,906
				24,110
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.0%
BOE Technology Group Co., Ltd. Class A		18,800		8,599
GRG Banking Equipment Co., Ltd. Class A		900		4,295
Guangzhou KingTeller Technology Co., Ltd. Class A		2,700		4,511
Inspur Electronic Information Industry Co., Ltd. Class A		800		3,907
Tsinghua Tongfang Co., Ltd. Class A		2,100		5,847
				27,159
TEXTILES, APPAREL & LUXURY GOODS — 2.4%
Anhui Huamao Textile Co. Class A		4,300		5,794
Bros Eastern Co., Ltd. Class A		3,000		3,479
Gansu Gangtai Holding Group Co., Ltd. Class A		1,300		4,721
Huafu Top Dyed Melange Yarn Co., Ltd. Class A		2,500		4,639
Jiangsu Huaxicun Co., Ltd. Class A		2,000		4,287
Jiangsu Sunshine Co., Ltd. Class A (a)		3,300		2,917
Luthai Textile Co., Ltd. Class A		1,300		2,707
Meisheng Cultural & Creative Corp., Ltd. Class A		500		3,935
Ningbo Shanshan Co., Ltd. Class A		800		4,834
Yantai Tayho Advanced Materials Co., Ltd. Class A		1,200		2,936
Youngor Group Co., Ltd. Class A		1,900		4,764
Zhejiang Hangmin Co., Ltd. Class A		1,700		3,435
Zhejiang Ming Jewelry Co., Ltd. Class A		1,500		4,906
Zhejiang Weixing Industrial Development Co., Ltd. Class A		3,400		9,278
				62,632
TRADING COMPANIES & DISTRIBUTORS — 1.0%
CMST Development Co., Ltd. Class A		2,700		4,175
Shandong Hiking International Co., Ltd. Class A (a)		1,800		6,658
Shanghai Lansheng Corp. Class A		600		3,182
Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. Class A		700		2,832
Sinochem International Corp. Class A		2,100		4,143
Tianjin Teda Co., Ltd. Class A		4,500		4,941
				25,931
TRANSPORTATION INFRASTRUCTURE — 1.8%
Dalian Port PDA Co., Ltd. Class A		3,100		2,845
Fujian Expressway Development Co., Ltd. Class A		9,700		6,364
Henan Zhongyuan Expressway Co., Ltd. Class A		4,400		4,635
Hubei Chutian Expressway Co., Ltd. Class A		6,400		6,465
Jiangxi Ganyue Expressway Co., Ltd. Class A		4,000		3,499
Shanghai International Port Group Co., Ltd. Class A		3,700		3,692
Shenzhen Chiwan Wharf Holdings, Ltd. Class A		1,500		4,458
TangShan Port Group Co., Ltd. Class A		2,800		3,557

37

SPDR MSCI China A Shares IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Xiandai Investment Co., Ltd. Class A		3,200	$	4,135
Yingkou Port Liability Co., Ltd. Class A		5,100		3,731
Zhangjiagang Freetrade Science and Technology Co., Ltd. Class A		3,600		3,947
				47,328
WATER UTILITIES — 0.6%
Beijing Capital Co., Ltd. Class A		2,300		3,609
Chengdu Xingrong Environment Co., Ltd. Class A		3,600		3,947
Guangdong Golden Dragon Development, Inc. Class A		900		4,036
Tus-Sound Environmental Resources Co., Ltd. Class A		700		4,271
				15,863
WIRELESS TELECOMMUNICATION SERVICES — 0.4%
China United Network Communications, Ltd. Class A		11,100		10,564
TOTAL COMMON STOCKS (Cost $2,505,374)				2,609,660
SHORT-TERM INVESTMENT — 0.0% (b)
UNITED STATES — 0.0% (b)
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d) (Cost $1,002)		1,002		1,002
TOTAL INVESTMENTS — 100.0% (Cost $2,506,376)				2,610,662
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% (b)				(42	)
NET ASSETS — 100.0%			$	2,610,620

(a) Non-income producing security

(b) Amount shown represents less than 0.05% of net assets.

(c) The rate shown is the annualized seven-day yield at December 31, 2015.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

38

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
BRAZIL — 5.5%
Ambev SA ADR		208,523	$	930,013
B2W Cia Digital (a)		3,495		13,454
Banco Bradesco SA ADR		146,954		706,849
Banco do Brasil SA		38,595		143,795
Banco Pan SA Preference Shares		18,212		7,457
Banco Santander Brasil SA		1,006		4,079
BB Seguridade Participacoes SA		25,598		157,422
BM&FBovespa SA		81,904		225,450
BR Malls Participacoes SA		30,162		84,625
Bradespar SA Preference Shares		21,320		26,891
Brasil Brokers Participacoes SA		8,269		2,738
Braskem SA ADR (b)		8,246		111,651
BRF SA ADR		23,470		324,355
CCR SA		23,006		72,980
Centrais Eletricas Brasileiras SA ADR (a)		26,420		35,931
Cia Brasileira de Distribuicao ADR (b)		10,441		109,839
Cia de Saneamento Basico do Estado de Sao Paulo		33,567		160,613
Cia Energetica de Minas Gerais ADR		58,940		88,410
Cia Energetica de Sao Paulo Class B, Preference Shares		2,611		8,844
Cia Hering		2,084		8,012
Cia Siderurgica Nacional SA ADR (b)		67,554		65,926
Cielo SA		33,048		280,590
Cosan Logistica SA		8,433		2,259
Cosan SA Industria e Comercio		8,433		53,715
CPFL Energia SA (a)		6,050		23,214
Cyrela Brazil Realty SA Empreendimentos e Participacoes		23,750		45,024
Duratex SA		17,442		26,011
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA Preference Shares (a)		1,619		3,438
Embraer SA		36,276		276,821
Estacio Participacoes SA		10,216		36,022
Eternit SA		9,708		5,129
Fibria Celulose SA ADR		12,998		164,945
GAEC Educacao SA		1,337		4,664
Gafisa SA (a)		5,752		3,533
Gerdau SA ADR (b)		50,306		60,367
Hypermarcas SA (a)		2,200		12,073
Itau Unibanco Holding SA ADR		145,961		950,206
Itausa — Investimentos Itau SA Preference Shares		195,743		340,401
Itausa — Investimentos Itau SA		18,069		32,107
JBS SA		16,758		52,312
Kepler Weber SA		1,020		4,177
Klabin SA		6,918		41,005
Kroton Educacional SA		50,616		121,926
Log-in Logistica Intermodal SA (a)		8,262		2,527
Lojas Americanas SA Preference Shares		33,999		166,719
Lojas Renner SA		58,431		252,555
Magnesita Refratarios SA (a)		12,367		9,065
Marcopolo SA Preference Shares		18,993		8,881
Metalurgica Gerdau SA Preference Shares		67,013		28,118
Mills Estruturas e Servicos de Engenharia SA (a)		4,175		2,807
MMX Mineracao e Metalicos SA (a)		54,490		3,168
MRV Engenharia e Participacoes SA		4,606		10,106
Natura Cosmeticos SA		12,979		77,062
Oi SA ADR (a) (b)		607		370
PDG Realty SA Empreendimentos e Participacoes (a)		2,237		922
Petroleo Brasileiro SA ADR (a) (c)		101,061		343,607
Petroleo Brasileiro SA ADR (a) (b) (c)		45,007		193,530
Profarma Distribuidora de Produtos Farmaceuticos SA (a)		1,457		1,863
Prumo Logistica SA (a)		1,443		3,466
Qualicorp SA		4,030		14,393
Raia Drogasil SA		2,811		25,209
Restoque Comercio e Confeccoes de Roupas SA		5,419		2,534
Rodobens Negocios Imobiliarios SA		4,600		5,197
Rossi Residencial SA (a)		18,228		2,949
Rumo Logistica Operadora Multimodal SA (a)		3,085		4,866
Suzano Papel e Celulose SA Class A, Preference Shares		4,090		19,322
T4F Entretenimento SA (a)		7,439		5,829
Telefonica Brasil SA ADR		9,335		84,295
Telefonica Brasil SA Preference Shares		30,444		275,102
Tim Participacoes SA ADR		10,462		88,718
TOTVS SA		2,556		20,047
Tractebel Energia SA ADR		11,809		98,606
Ultrapar Participacoes SA		12,400		189,467
Usinas Siderurgicas de Minas Gerais SA ADR		36,229		13,405
Vale SA ADR (c)		87,914		224,181
Vale SA ADR (b) (c)		60,514		199,091
WEG SA		54,802		207,087
				8,414,337
CHILE — 1.5%
AntarChile SA		15,105		140,690
Empresa Nacional de Electricidad SA ADR		7,775		288,142
Empresas COPEC SA		34,762		298,425
Empresas Iansa SA		373,258		10,535
Enersis SA ADR		29,860		362,799
Enjoy SA		171,577		8,719
Latam Airlines Group SA ADR (a) (b)		23,103		124,525
Multiexport Foods SA		156,109		13,659
Parque Arauco SA		215,698		339,985
SACI Falabella		86,550		551,595
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares		1,030		19,344
Tech Pack SA (a)		9,241		2,621
Vina Concha y Toro SA ADR		5,104		152,099
				2,313,138
CHINA — 32.0%
21Vianet Group, Inc. ADR (a)		595		12,578
3SBio, Inc. (a) (d)		25,000		35,096
500.com, Ltd. Class A, ADR (a)		340		6,834
58.com, Inc. ADR (a)		425		28,033
AAC Technologies Holdings, Inc.		46,492		303,242
Agile Property Holdings, Ltd. (b)		196,999		109,809
Agricultural Bank of China, Ltd. Class H		1,020,000		417,205
Air China, Ltd. Class H		131,744		103,863
Alibaba Group Holding, Ltd. ADR (a) (b)		44,272		3,597,985

39

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Aluminum Corp. of China, Ltd. Class H (a) (b)		290,000	$	96,166
Angang Steel Co., Ltd. Class H (b)		60,640		24,568
Anhui Conch Cement Co., Ltd. Class H		99,635		268,045
Anhui Expressway Co., Ltd. Class H		8,000		6,813
ANTA Sports Products, Ltd.		28,000		76,953
Anton Oilfield Services Group (a) (b)		32,000		3,097
Aupu Group Holding Co., Ltd.		96,000		27,994
Autohome, Inc. ADR (a)		1,279		44,663
AVIC International Holding HK, Ltd. (a) (b)		138,000		14,067
AVIC International Holdings, Ltd. Class H		56,000		31,359
AviChina Industry & Technology Co., Ltd. Class H		93,000		73,199
BAIC Motor Corp., Ltd. Class H (d)		6,500		6,508
Baidu, Inc. ADR (a)		11,545		2,182,467
BAIOO Family Interactive, Ltd. (d)		122,000		9,288
Bank of China, Ltd. Class H		2,917,900		1,302,676
Bank of Communications Co., Ltd. Class H		829,864		584,641
Baoxin Auto Group, Ltd. (b)		11,000		6,884
BBMG Corp. Class H		14,500		9,860
Beijing Capital International Airport Co., Ltd. Class H		174,000		187,916
Beijing Capital Land, Ltd. Class H		28,000		12,826
Beijing Enterprises Holdings, Ltd.		21,500		130,246
Beijing Enterprises Water Group, Ltd. (a) (b)		198,000		138,725
Beijing Jingneng Clean Energy Co., Ltd. Class H (b)		38,000		13,484
Belle International Holdings, Ltd.		213,000		159,953
Biostime International Holdings, Ltd. (b)		5,000		10,309
Bitauto Holdings, Ltd. ADR (a)		765		21,634
BOE Technology Group Co., Ltd. Class B		34,300		10,179
Boer Power Holdings, Ltd. (b)		7,000		12,609
Bona Film Group, Ltd. ADR (a)		680		8,996
Boyaa Interactive International, Ltd.		17,000		7,129
Brilliance China Automotive Holdings, Ltd.		130,000		163,545
Byd Co., Ltd. Class H (a) (b)		22,000		121,069
BYD Electronic International Co., Ltd. (a)		21,500		11,540
C.banner International Holdings, Ltd. (a)		12,000		5,466
Cabbeen Fashion, Ltd.		39,000		20,984
CAR, Inc. (a) (b)		30,000		49,702
CGN Mining Co., Ltd. (a)		80,000		6,193
CGN Power Co., Ltd. Class H (d)		384,000		143,688
Changyou.com, Ltd. ADR (a)		255		6,329
Chanjet Information Technology Co., Ltd. Class H		2,600		5,723
Chaowei Power Holdings, Ltd. (a) (b)		26,000		18,384
Cheetah Mobile, Inc. ADR (a) (b)		425		6,808
China Aerospace International Holdings, Ltd. (b)		66,000		8,942
China Agri-Industries Holdings, Ltd. (a) (b)		50,000		17,161
China Aircraft Leasing Group Holdings, Ltd.		6,500		6,710
China Aoyuan Property Group, Ltd.		37,000		7,782
China Automation Group, Ltd. (a)		43,000		4,772
China Biologic Products, Inc. (a) (b)		643		91,602
China Child Care Corp., Ltd.		57,000		5,884
China Cinda Asset Management Co., Ltd. Class H		473,000		175,159
China CITIC Bank Corp., Ltd. Class H (a)		444,000		287,592
China Coal Energy Co., Ltd. Class H (b)		290,000		111,133
China Communications Construction Co., Ltd. Class H		206,241		210,761
China Communications Services Corp., Ltd. Class H		54,000		20,276
China Conch Venture Holdings, Ltd.		63,700		132,000
China Construction Bank Corp. Class H		3,891,280		2,666,103
China COSCO Holdings Co., Ltd. Class H (a) (b)		175,425		79,675
China Datang Corp. Renewable Power Co., Ltd. Class H (a)		75,000		9,387
China Distance Education Holdings, Ltd. ADR		510		7,492
China Dongxiang Group Co., Ltd.		33,000		7,877
China Eastern Airlines Corp., Ltd. Class H (a)		46,000		26,175
China Electronics Corp. Holdings Co., Ltd.		36,000		13,935
China Energine International Holdings, Ltd.		92,000		8,191
China Everbright International, Ltd.		102,000		131,084
China Everbright, Ltd.		24,000		55,183
China Fangda Group Co., Ltd. Class B		93,600		87,197
China Financial Services Holdings, Ltd.		84,000		5,744
China Foods, Ltd. (a)		16,000		7,060
China Galaxy Securities Co., Ltd. Class H (b)		117,900		108,009
China Hanking Holdings, Ltd. (a)		42,000		20,702
China Harmony New Energy Auto Holding, Ltd.		7,000		4,941
China Hongqiao Group, Ltd.		14,000		8,328
China Huarong Energy Co., Ltd. (a) (b)		161,000		5,069
China Huishan Dairy Holdings Co., Ltd. (b)		184,600		70,742
China Huiyuan Juice Group, Ltd. (a)		20,000		9,161
China International Marine Containers Group Co., Ltd. Class H		8,200		15,003
China Jiuhao Health Industry Corp., Ltd.		110,000		14,903
China Lesso Group Holdings, Ltd.		28,000		19,545
China Life Insurance Co., Ltd. Class H		304,260		983,428
China Lodging Group, Ltd. ADR		765		23,914
China Longyuan Power Group Corp., Ltd. Class H		94,000		70,953
China Machinery Engineering Corp. Class H		14,000		10,278
China Medical System Holdings, Ltd.		65,000		95,779
China Mengniu Dairy Co., Ltd.		162,620		265,223
China Merchants Bank Co., Ltd. Class H		204,923		483,873
China Merchants China Direct Investments, Ltd.		4,000		6,658
China Merchants Holdings International Co., Ltd.		69,682		221,629

40

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
China Ming Yang Wind Power Group, Ltd. ADR (a) (b)		5,196	$	12,055
China Minsheng Banking Corp., Ltd. Class H		247,900		245,656
China Mobile, Ltd.		229,366		2,589,566
China Modern Dairy Holdings, Ltd. (b)		89,000		23,082
China Molybdenum Co., Ltd. Class H (b)		84,000		15,716
China National Accord Medicines Corp., Ltd. Class B		2,500		12,845
China National Building Material Co., Ltd. Class H (b)		58,000		27,839
China National Materials Co., Ltd.		37,000		7,066
China NT Pharma Group Co., Ltd. (a)		104,600		34,011
China Oilfield Services, Ltd. Class H (b)		125,723		108,201
China Overseas Grand Oceans Group, Ltd. (b)		24,000		10,157
China Overseas Land & Investment, Ltd.		235,200		825,460
China Pacific Insurance Group Co., Ltd. Class H		99,200		408,312
China Petroleum & Chemical Corp. Class H		1,139,200		687,916
China Power International Development, Ltd.		290,000		167,635
China Power New Energy Development Co., Ltd.		120,000		11,767
China Railway Construction Corp., Ltd. Class H (b)		105,990		131,425
China Railway Group, Ltd. Class H		240,487		182,767
China Rare Earth Holdings, Ltd. (a)		71,200		6,063
China Resources Beer Holdings Co., Ltd.		58,469		125,234
China Resources Gas Group, Ltd.		24,000		71,689
China Resources Land, Ltd.		142,222		414,730
China Resources Power Holdings Co., Ltd.		122,432		238,224
China Sanjiang Fine Chemicals Co., Ltd. (a) (b)		24,000		4,212
China Shenhua Energy Co., Ltd. Class H		196,056		308,118
China Shipping Container Lines Co., Ltd. Class H (a) (b)		342,117		95,349
China Shipping Development Co., Ltd. Class H (b)		100,000		66,450
China Singyes Solar Technologies Holdings, Ltd. (a) (b)		8,000		5,750
China South City Holdings, Ltd. (b)		68,000		15,355
China Southern Airlines Co., Ltd. Class H		58,000		44,753
China State Construction International Holdings, Ltd.		44,000		76,417
China Taiping Insurance Holdings Co., Ltd. (a)		45,635		141,319
China Telecom Corp., Ltd. Class H		757,615		355,828
China Travel International Investment Hong Kong, Ltd.		300,000		126,191
China Unicom Hong Kong, Ltd.		237,668		289,796
China Vanke Co., Ltd. Class H (b)		46,400		137,102
China Yurun Food Group, Ltd. (a) (b)		12,000		2,555
China ZhengTong Auto Services Holdings, Ltd.		13,500		6,219
ChinaCache International Holdings, Ltd. ADR (a)		765		6,304
Chinasoft International, Ltd. (a)		44,000		18,224
Chongqing Changan Automobile Co., Ltd. Class B		44,600		98,406
Chongqing Machinery & Electric Co., Ltd. Class H		40,000		5,264
CIFI Holdings Group Co., Ltd.		26,000		5,804
CIMC Enric Holdings, Ltd.		10,000		5,871
CITIC Resources Holdings, Ltd. (a)		64,000		6,606
CITIC Securities Co., Ltd. Class H		65,500		153,140
CITIC Telecom International Holdings, Ltd. (b)		31,000		11,840
CITIC, Ltd.		262,000		463,816
CNinsure, Inc. ADR (a)		1,619		15,024
CNOOC, Ltd.		748,603		779,498
Cogobuy Group (a) (b) (d)		15,000		20,051
Colour Life Services Group Co., Ltd.		20,000		17,109
Comtec Solar Systems Group, Ltd. (a)		100,000		8,903
Coolpad Group, Ltd. (a)		144,000		28,799
COSCO Pacific, Ltd.		117,087		129,020
Cosmo Lady China Holdings Co., Ltd. (b) (d)		22,000		18,423
Country Garden Holdings Co., Ltd. (b)		223,466		91,691
Credit China Holdings, Ltd. (b)		44,000		17,202
CRRC Corp., Ltd. Class H (b)		167,000		206,430
CSG Holding Co., Ltd. Class B		6,800		6,291
Ctrip.com International, Ltd. ADR (a)		13,443		622,814
Dalian Wanda Commercial Properties Co., Ltd. Class H (d)		24,200		141,294
Daqo New Energy Corp. ADR (a)		510		8,491
Datang International Power Generation Co., Ltd. Class H		348,000		105,970
Dazhong Transportation Group Co., Ltd. Class B		39,700		50,935
Dongfang Electric Corp., Ltd. Class H		11,600		11,809
Dongfeng Motor Group Co., Ltd. Class H		228,000		304,779
Dongpeng Holdings Co., Ltd.		16,000		6,235
Double Coin Holdings, Ltd. Class B		200		260
E-Commerce China Dangdang, Inc. Class A, ADR (a) (b)		2,215		15,926
E-House China Holdings, Ltd. ADR (b)		1,534		9,649
Evergrande Real Estate Group, Ltd. (b)		163,000		143,437
Fantasia Holdings Group Co., Ltd.		43,500		5,164
Far East Horizon, Ltd.		86,000		80,006
Fufeng Group, Ltd. (b)		22,000		9,935
Future Land Holdings Co., Ltd. Class A (a)		46,055		144,045
Geely Automobile Holdings, Ltd.		105,000		55,954
GF Securities Co., Ltd. Class H (a) (b)		66,800		167,729
Goldpac Group, Ltd.		15,000		6,561
GOME Electrical Appliances Holding, Ltd.		437,000		72,738
Goodbaby International Holdings, Ltd. (a)		18,000		6,550
Great Wall Motor Co., Ltd. Class H		136,750		159,333
Greatview Aseptic Packaging Co., Ltd.		10,000		4,529
Greentown China Holdings, Ltd. (a) (b)		23,500		23,348
Guangdong Electric Power Development Co., Ltd. Class B		81,540		53,763

41

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Guangdong Investment, Ltd.		234,000	$	331,519
Guangshen Railway Co., Ltd. Class H (b)		232,000		115,848
Guangzhou Automobile Group Co., Ltd. Class H		136,636		121,824
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H (b)		6,000		16,993
Guangzhou R&F Properties Co., Ltd. Class H (b)		104,400		128,645
Guodian Technology & Environment Group Corp., Ltd. Class H (a)		24,000		2,137
Guotai Junan International Holdings, Ltd. (b)		78,000		27,375
Haichang Ocean Park Holdings, Ltd. (a) (d)		37,000		8,307
Haitian International Holdings, Ltd.		5,000		7,303
Haitong Securities Co., Ltd. Class H (b)		104,400		184,549
Hangzhou Steam Turbine Co., Ltd. Class B		17,400		17,804
Harbin Electric Co., Ltd. Class H (b)		58,000		27,465
Hengan International Group Co., Ltd.		31,000		292,794
HNA Infrastructure Co., Ltd.		16,000		20,232
Homeinns Hotel Group ADR (a)		510		17,422
Honghua Group, Ltd. (a) (b)		14,000		867
Honworld Group, Ltd. (d)		10,500		8,129
Hopson Development Holdings, Ltd. (a) (b)		26,000		25,899
Huadian Fuxin Energy Corp., Ltd. Class H		30,000		8,593
Huadian Power International Corp., Ltd. Class H		151,308		98,592
Huaneng Power International, Inc. Class H		232,000		200,264
Huaneng Renewables Corp., Ltd. Class H		112,000		33,527
Huangshan Tourism Development Co., Ltd. Class B		26,359		53,957
Huatai Securities Co., Ltd. Class H (a) (d)		28,400		66,253
Industrial & Commercial Bank of China, Ltd. Class H		3,139,590		1,895,871
Inner Mongolia Yitai Coal Co., Ltd. Class B		21,417		19,532
Intime Retail Group Co., Ltd.		62,500		61,612
JA Solar Holdings Co., Ltd. ADR (a)		935		9,069
JD.com, Inc. ADR (a)		34,406		1,110,110
Jiangnan Group, Ltd.		36,000		7,060
Jiangsu Expressway Co., Ltd. Class H		152,000		205,147
Jiangxi Copper Co., Ltd. Class H		60,000		71,147
JinkoSolar Holding Co., Ltd. ADR (a) (b)		595		16,464
Jumei International Holding, Ltd. ADR (a)		340		3,080
Kama Co., Ltd. Class B (a)		5,700		7,946
Kingdee International Software Group Co., Ltd. (b)		72,000		33,073
Kingsoft Corp., Ltd. (b)		26,000		63,674
Konka Group Co., Ltd. Class B		602,700		301,733
Kunlun Energy Co., Ltd.		290,000		258,189
KWG Property Holding, Ltd.		56,412		41,853
Lao Feng Xiang Co., Ltd. Class B		7,469		31,990
Lenovo Group, Ltd. (b)		406,000		412,278
Li Ning Co., Ltd. (a)		81,333		44,076
Lianhua Supermarket Holdings Co., Ltd. Class H (a)		13,000		5,670
Lifetech Scientific Corp. (a)		56,000		10,694
Livzon Pharmaceutical Group, Inc. Class H		3,820		18,385
Luye Pharma Group, Ltd. (a)		25,000		26,064
Maanshan Iron & Steel Co., Ltd. Class H (a) (b)		174,000		37,269
Metallurgical Corp. of China, Ltd. Class H		60,000		18,116
Mindray Medical International, Ltd. ADR		2,397		65,007
Minth Group, Ltd.		18,000		35,767
MOBI Development Co., Ltd.		81,000		11,078
Momo, Inc. ADR (a)		680		10,894
NetEase, Inc. ADR		3,963		718,254
New China Life Insurance Co., Ltd. Class H		27,300		114,658
New Oriental Education & Technology Group, Inc. ADR		4,741		148,725
Noah Holdings, Ltd. ADS (a) (b)		510		14,244
NQ Mobile, Inc. ADR (a) (b)		1,534		5,584
Ourgame International Holdings, Ltd.		16,000		11,871
Ozner Water International Holding, Ltd. (a) (d)		37,000		10,980
Pacific Online, Ltd.		15,000		4,548
Parkson Retail Group, Ltd.		72,134		9,400
People’s Insurance Co. Group of China, Ltd. Class H		210,000		102,966
PetroChina Co., Ltd. Class H		884,970		580,072
PICC Property & Casualty Co., Ltd. Class H		297,506		591,929
Ping An Insurance Group Co. of China, Ltd. Class H		200,000		1,109,656
Poly Culture Group Corp., Ltd. Class H		2,300		6,291
Poly Property Group Co., Ltd. (b)		41,000		13,384
PW Medtech Group, Ltd. (a)		19,000		4,535
Qihoo 360 Technology Co., Ltd. ADR (a) (b)		3,234		235,468
Qunar Cayman Islands, Ltd. ADR (a) (b)		1,279		67,454
ReneSola, Ltd. ADR (a) (b)		7,068		12,016
Renhe Commercial Holdings Co., Ltd. (a) (b)		631,000		29,310
Semiconductor Manufacturing International Corp. (a)		1,056,000		107,642
Shandong Airlines Co., Ltd. Class B		2,200		7,091
Shandong Chenming Paper Holdings, Ltd. Class B		12,400		8,768
Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. Class H		8,000		12,800
Shandong Weigao Group Medical Polymer Co., Ltd. Class H		76,000		52,267
Shanghai Baosight Software Co., Ltd. Class B		2,000		8,686
Shanghai Electric Group Co., Ltd. Class H (b)		250,077		132,619
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H		9,000		26,129
Shanghai Fudan Microelectronics Group Co., Ltd. Class H (a)		16,000		11,912

42

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H		8,000	$	8,609
Shanghai Greencourt Investment Group Co., Ltd. Class B (a)		55,248		43,922
Shanghai Industrial Urban Development Group, Ltd. (a)		26,000		5,133
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H		28,000		11,814
Shanghai Jinjiang International Industrial Investment Co., Ltd. Class B		31,693		75,366
Shanghai Jinjiang International Travel Co., Ltd. Class B		1,600		8,016
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class B		41,783		77,466
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B		14,800		60,251
Shanghai Pharmaceuticals Holding Co., Ltd. Class H		11,700		25,332
Shanghai Prime Machinery Co., Ltd. Class H		38,000		6,668
Shengjing Bank Co., Ltd. Class H (b) (d)		22,300		28,774
Shenwan Hongyuan HK, Ltd. (b)		10,000		4,993
Shenzhen Expressway Co., Ltd. Class H		88,482		78,205
Shenzhen International Holdings, Ltd.		26,966		49,895
Shenzhen Investment, Ltd.		81,016		37,946
Shenzhou International Group Holdings, Ltd.		15,000		86,224
Shougang Concord International Enterprises Co., Ltd. (a)		144,000		5,202
Shunfeng International Clean Energy, Ltd. (a)		40,000		10,168
Silver Grant International Industries, Ltd.		44,000		5,848
SINA Corp. (a)		3,329		164,453
Sino-Ocean Land Holdings, Ltd.		221,980		142,351
Sinofert Holdings, Ltd.		32,000		5,450
SinoMedia Holding, Ltd. (b)		16,000		5,471
Sinopec Oilfield Service Corp. Class H (a) (b)		50,000		13,097
Sinopec Shanghai Petrochemical Co., Ltd. Class H (a)		230,600		91,941
Sinopharm Group Co., Ltd. Class H		37,600		150,882
Sinosoft Technology Group, Ltd.		28,000		15,174
Sinotrans, Ltd. Class H		263,300		141,670
Sinovac Biotech, Ltd. (a)		4,578		26,186
SITC International Holdings Co., Ltd.		20,000		10,606
SOHO China, Ltd.		20,500		9,946
SouFun Holdings, Ltd. ADR		7,068		52,232
SPT Energy Group, Inc. (a)		20,000		1,832
Sunac China Holdings, Ltd.		58,000		44,902
Sunny Optical Technology Group Co., Ltd. (b)		25,000		57,483
Synertone Communication Corp. (a)		120,000		1,858
TCL Multimedia Technology Holdings, Ltd. (b)		24,000		15,236
Tencent Holdings, Ltd.		229,167		4,509,328
Tian Ge Interactive Holdings, Ltd. (d)		22,000		9,169
Tiangong International Co., Ltd. (b)		44,000		3,747
Tianneng Power International, Ltd. (a)		32,000		26,962
Tingyi Cayman Islands Holding Corp.		154,000		219,769
Tong Ren Tang Technologies Co., Ltd. Class H		10,000		16,413
TravelSky Technology, Ltd. Class H (b)		113,841		187,430
Trigiant Group, Ltd. (b)		22,000		4,457
Trina Solar, Ltd. ADR (a) (b)		3,066		33,787
Uni-President China Holdings, Ltd. (b)		23,000		17,717
Universal Health International Group Holding, Ltd. (b)		20,000		7,742
V1 Group, Ltd. (b)		184,200		11,884
Vipshop Holdings, Ltd. ADR (a)		11,680		178,354
Want Want China Holdings, Ltd. (b)		321,000		238,985
Weiqiao Textile Co. Class H		73,000		34,192
West China Cement, Ltd.		76,000		15,690
Winsway Enterprises Holdings, Ltd. (a)		10,000		—
Wisdom Sports Group (b)		26,000		17,545
Xiamen International Port Co., Ltd. Class H		26,000		6,341
Xinchen China Power Holdings, Ltd. (a) (b)		32,000		7,350
Xinjiang Goldwind Science & Technology Co., Ltd. Class H (b)		3,400		6,537
Xinyi Solar Holdings, Ltd. (b)		110,000		44,993
Yangtze Optical Fibre and Cable Joint Stock, Ltd. Co. Class H (d)		6,500		7,884
Yanzhou Coal Mining Co., Ltd. Class H (b)		174,000		81,273
Yestar International Holdings Co., Ltd. (b)		22,500		9,871
Yingde Gases Group Co., Ltd.		20,000		9,239
Yingli Green Energy Holding Co., Ltd. ADR (a) (b)		843		3,820
Youku Tudou, Inc. ADR (a)		4,354		118,124
Yuexiu Property Co., Ltd. (b)		406,000		70,197
Yuexiu Transport Infrastructure, Ltd. (b)		1,258		789
YY, Inc. ADR (a)		1,020		63,719
Zhaojin Mining Industry Co., Ltd. Class H (b)		12,000		6,782
Zhejiang Expressway Co., Ltd. Class H		197,862		237,940
Zhuzhou CSR Times Electric Co., Ltd. Class H		26,500		154,039
Zijin Mining Group Co., Ltd. Class H (b)		315,000		82,508
ZTE Corp. Class H		58,927		134,427
				48,606,156
COLOMBIA — 0.6%
Almacenes Exito SA		5,899		25,086
Avianca Holdings SA Preference Shares		88,203		47,095
Banco Davivienda SA Preference Shares		9,917		68,102
Banco de Bogota SA		3,183		59,659
Bancolombia SA		9,215		60,901
Bancolombia SA ADR		3,323		88,890
Bolsa de Valores de Colombia		6,015,255		32,213
Celsia SA ESP		6,452		5,691
Cementos Argos SA		6,558		20,080
Cementos Argos SA Preference Shares		7,834		23,197
Cemex Latam Holdings SA (a)		2,513		8,154
Constructora Conconcreto SA		19,589		6,664
Corp. Financiera Colombiana SA (a) (c)		34		378
Corp. Financiera Colombiana SA (c)		2,936		35,959

43

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Ecopetrol SA		88,688	$	31,011
Empresa de Telecomunicaciones de Bogota		174,706		28,563
Grupo Argos SA Preference Shares		10,036		48,307
Grupo Argos SA		2,652		13,534
Grupo Aval Acciones y Valores SA		263,748		90,561
Grupo de Inversiones Suramericana SA Preference Shares		3,608		39,552
Grupo de Inversiones Suramericana SA		3,610		40,598
Grupo Nutresa SA		3,332		23,742
Interbolsa SA (a)		52,588		—
Interconexion Electrica SA ESP		13,439		31,243
Isagen SA ESP		59,253		63,462
				892,642
CZECH REPUBLIC — 0.4%
CEZ A/S		12,102		216,155
Komercni banka A/S		1,279		254,511
Unipetrol A/S (a)		8,625		55,477
				526,143
EGYPT — 0.5%
Commercial International Bank Egypt SAE		115,002		559,438
Egypt Kuwait Holding Co. SAE		43,743		22,746
Egyptian Financial Group-Hermes Holding Co. (a)		50,378		56,683
Global Telecom Holding SAE (a)		46,519		12,357
Global Telecom Holding SAE GDR (a)		22,522		29,279
Global Telecom Holding SAE GDR (a) (c)		1,676		2,179
Orascom Telecom Media And Technology Holding SAE (a)		40,415		3,665
				686,347
GREECE — 0.2%
Alpha Bank AE (a)		3,176		8,591
Diana Shipping, Inc. (a)		2,063		8,974
DryShips, Inc. (a)		10,537		1,832
Ellaktor SA (a)		230		362
Eurobank Ergasias SA (a)		3,496		3,950
FF Group (a)		815		15,316
Fourlis Holdings SA (a)		112		365
Frigoglass SAIC (a)		196		402
GEK Terna Holding Real Estate Construction SA (a)		279		461
Grivalia Properties REIC AE		4,006		32,072
Hellenic Exchanges — Athens Stock Exchange SA		7,596		43,733
Hellenic Telecommunications Organization SA		6,340		63,637
Intralot SA-Integrated Lottery Systems & Services (a)		17,066		21,690
JUMBO SA (a)		2,602		27,418
Marfin Investment Group Holdings SA (a)		3,150		243
Mytilineos Holdings SA (a)		73		291
National Bank of Greece SA (a)		2,653		989
OPAP SA		7,828		68,879
Piraeus Bank SA (a)		414		125
Public Power Corp. SA		2,939		12,387
Terna Energy SA (a)		146		390
Titan Cement Co. SA		1,254		23,989
				336,096
HONG KONG — 1.5%
AGTech Holdings, Ltd. (a) (b)		56,000		14,596
Alibaba Pictures Group, Ltd. (a) (b)		452,400		112,076
AMVIG Holdings, Ltd.		34,000		14,126
Asian Citrus Holdings, Ltd. (a) (b)		41,000		4,708
Beijing Enterprises Clean Energy Group, Ltd. (a)		598,000		48,611
BEP International Holdings, Ltd.		340,000		28,516
Bosideng International Holdings, Ltd. (b)		62,000		5,360
Carnival Group International Holdings, Ltd. (a) (b)		190,000		24,516
CGN Meiya Power Holdings Co., Ltd. (a) (d)		24,000		5,264
Chia Tai Enterprises International, Ltd. (a)		2,300		801
Chiho-Tiande Group, Ltd. (a)		14,000		9,339
China All Access Holdings, Ltd.		28,000		9,393
China Animation Characters Co., Ltd. (a)		16,000		8,485
China Chengtong Development Group, Ltd. (a)		194,000		22,278
China Fiber Optic Network System Group, Ltd. (a) (b)		64,800		6,187
China Financial International Investments, Ltd. (a) (b)		160,000		20,645
China Financial Leasing Group, Ltd. (a)		80,000		7,226
China Gas Holdings, Ltd. (b)		92,000		132,715
China High Speed Transmission Equipment Group Co., Ltd. (a)		34,000		27,375
China Jicheng Holdings, Ltd. (a) (d)		162,800		28,778
China National Culture Group, Ltd. (a)		190,000		1,618
China Ocean Shipbuilding Industry Group, Ltd. (a)		245,000		7,429
China Oil & Gas Group, Ltd. (a)		132,000		9,027
China Overseas Property Holdings, Ltd. (a) (b)		62,066		10,171
China Precious Metal Resources Holdings Co., Ltd. (a) (b)		148,000		5,633
China Public Procurement, Ltd. (a) (b)		360,000		10,219
China Soft Power Technology Holdings, Ltd. (a)		168,000		12,789
China Vanguard Group, Ltd. (a) (b)		70,000		7,858
Citychamp Watch & Jewellery Group, Ltd. (a)		60,000		10,142
Comba Telecom Systems Holdings, Ltd.		46,362		8,495
Concord New Energy Group, Ltd.		120,000		7,200
CP Pokphand Co., Ltd.		200,000		21,161
Digital China Holdings, Ltd.		39,000		44,736
Essex Bio-technology, Ltd.		40,000		25,032
Eternity Investment, Ltd. (a)		40,574		1,204
Feiyu Technology International Co., Ltd. (d)		19,500		4,705
First Shanghai Investments, Ltd.		40,000		6,658
Fullshare Holdings, Ltd. (a)		234,500		57,489
GCL-Poly Energy Holdings, Ltd. (b)		314,000		46,998
Global Bio-Chem Technology Group Co., Ltd. (a)		142,000		3,994
Golden Meditech Holdings, Ltd.		44,000		7,097
Haier Electronics Group Co., Ltd.		23,000		46,652

44

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Hanergy Thin Film Power Group, Ltd. (a) (b)		856,000	$	—
Hang Fat Ginseng Holdings Co., Ltd. (b)		150,000		13,548
Hengdeli Holdings, Ltd.		757,600		110,461
Hi Sun Technology China, Ltd. (a) (b)		78,000		14,392
Hua Han Bio-Pharmaceutical Holdings, Ltd. Class H (b)		203,600		28,372
Hua Hong Semiconductor, Ltd. (a) (d)		7,000		6,801
Huabao International Holdings, Ltd.		52,000		18,988
Imperial Pacific International Holdings, Ltd. (a) (b)		1,210,000		26,385
Joy City Property, Ltd.		136,000		20,707
Ju Teng International Holdings, Ltd.		36,500		17,378
Kingboard Chemical Holdings, Ltd.		55,340		88,399
Kingboard Laminates Holdings, Ltd.		32,500		14,761
Lee & Man Paper Manufacturing, Ltd.		27,000		15,085
Millennium Pacific Group Holdings, Ltd. (a)		98,000		15,680
National Agricultural Holdings, Ltd. (a)		30,000		13,006
Neo Telemedia, Ltd. (a)		428,000		31,478
NetDragon Websoft, Inc.		10,000		27,677
NewOcean Energy Holdings, Ltd. (b)		22,000		8,629
Newtree Group Holdings, Ltd. (a)		14,000		4,715
Nine Dragons Paper Holdings, Ltd.		87,000		51,525
Portico International Holdings, Ltd. (a)		13,000		4,915
Pou Sheng International Holdings, Ltd. (a)		70,000		16,800
Real Nutriceutical Group, Ltd. (b)		59,000		6,014
REXLot Holdings, Ltd. (b)		175,000		7,451
Shimao Property Holdings, Ltd.		87,000		154,689
SIM Technology Group, Ltd. (a)		176,000		10,106
Sino Biopharmaceutical, Ltd.		168,000		153,040
Skyworth Digital Holdings, Ltd.		57,194		37,341
Solargiga Energy Holdings, Ltd. (a)		380,000		9,218
SSY Group, Ltd. (b)		23,740		6,126
Sun Art Retail Group, Ltd. (b)		48,500		36,609
Suncorp Technologies, Ltd. (a)		500,000		8,000
Tack Fiori International Group, Ltd. (a)		44,000		11,355
Tech Pro Technology Development, Ltd. (a) (b)		154,000		35,171
Tibet 5100 Water Resources Holdings, Ltd. (b)		18,000		6,759
United Laboratories International Holdings, Ltd. (a)		12,000		6,642
Universal Medical Financial & Technical Advisory Services Co., Ltd. (a) (d)		32,600		25,196
Vision Values Holdings, Ltd. (a)		60,000		3,871
Wanda Hotel Development Co., Ltd. (a)		35,000		4,652
Wasion Group Holdings, Ltd.		24,000		25,021
WH Group, Ltd. (a) (d)		277,000		154,760
Xinyi Glass Holdings, Ltd.		86,000		50,600
Yip’s Chemical Holdings, Ltd.		10,000		3,406
				2,193,031
HUNGARY — 0.5%
MOL Hungarian Oil & Gas PLC		4,049		198,413
OTP Bank PLC		16,358		337,394
Richter Gedeon Nyrt		14,008		264,751
				800,558
INDIA — 12.1%
Adani Enterprises, Ltd.		816		1,029
Adani Ports & Special Economic Zone, Ltd.		33,741		133,064
Adani Power, Ltd. (a)		1,941		946
Adani Transmissions, Ltd. (a)		985		549
AIA Engineering, Ltd.		552		7,448
Alok Industries, Ltd. (a)		207,530		19,606
Amtek Auto, Ltd.		6,770		5,071
Anant Raj, Ltd.		46,814		29,579
Apollo Hospitals Enterprise, Ltd.		4,179		92,634
Ashok Leyland, Ltd.		25,133		33,394
Aurobindo Pharma, Ltd.		13,634		180,523
Axis Bank, Ltd.		47,550		322,792
Bajaj Hindusthan Sugar, Ltd. (a)		71,475		19,231
Balrampur Chini Mills, Ltd. (a)		35,603		37,672
BF Investment, Ltd. (a)		8,386		18,570
Bharat Forge, Ltd.		1,019		13,739
Bharat Heavy Electricals, Ltd.		54,342		138,943
Bharti Airtel, Ltd.		88,749		456,649
Bharti Infratel, Ltd.		14,994		97,027
Biocon, Ltd.		1,886		14,770
Bosch, Ltd.		70		19,731
Britannia Industries, Ltd.		3,492		156,574
Cipla, Ltd.		37,097		364,346
Coal India, Ltd.		23,798		118,637
CORE Education & Technologies, Ltd. (a)		10,751		447
DCB Bank, Ltd. (a)		98,462		121,522
Dewan Housing Finance Corp., Ltd.		27,484		97,732
Dr Reddy’s Laboratories, Ltd. ADR		8,775		406,195
Educomp Solutions, Ltd. (a)		13,657		3,530
Eicher Motors, Ltd.		331		84,333
Era Infra Engineering, Ltd. (a)		2,941		149
Fortis Healthcare, Ltd. (a)		19,383		52,753
GAIL India, Ltd.		40,809		231,383
Gammon India, Ltd. (a)		33,584		8,985
Gateway Distriparks, Ltd.		11,599		56,675
Gitanjali Gems, Ltd. (a)		1,516		949
Glenmark Pharmaceuticals, Ltd.		3,149		43,882
Godrej Consumer Products, Ltd.		2,262		45,113
Godrej Industries, Ltd.		19,958		114,397
Grasim Industries, Ltd. GDR		30		1,699
GRUH Finance, Ltd.		32,615		134,909
GTL Infrastructure, Ltd. (a)		228,533		9,500
GTL, Ltd. (a)		1,939		475
Gujarat NRE Coke, Ltd. (a)		14,472		766
Gujarat Pipavav Port, Ltd. (a)		2,431		5,196
GVK Power & Infrastructure, Ltd. (a)		102,730		12,578
HCL Technologies, Ltd.		21,495		277,833
HDFC Bank, Ltd.		59,078		966,368
Hero MotoCorp, Ltd.		11,879		483,752
Hindalco Industries, Ltd.		37,808		48,434
Hindustan Construction Co., Ltd. (a)		12,775		4,866
Hindustan Unilever, Ltd.		51,037		665,578
Housing Development & Infrastructure, Ltd. (a)		10,793		12,709
Housing Development Finance Corp., Ltd.		77,650		1,483,309
ICICI Bank, Ltd. ADR		79,634		623,534
Idea Cellular, Ltd.		16,281		35,352
IDFC Bank, Ltd. (a)		18		17
IDFC, Ltd.		18		13
Indiabulls Housing Finance, Ltd.		3,995		44,487

45

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Indiabulls Real Estate, Ltd. (a)		15,512	$	14,995
Indian Hotels Co., Ltd. (a)		51,019		90,036
Infosys, Ltd. ADR (b)		86,846		1,454,670
IRB Infrastructure Developers, Ltd.		3,361		12,378
ITC, Ltd.		5,806		28,768
ITC, Ltd. GDR		26,986		133,713
IVRCL, Ltd. (a)		13,096		1,841
Jain Irrigation Systems, Ltd.		8,899		9,295
Jaiprakash Associates, Ltd. (a)		47,637		8,569
Jet Airways India, Ltd. (a)		10,553		112,116
Jindal Steel & Power, Ltd. (a)		4,398		6,399
Kotak Mahindra Bank, Ltd.		20,591		224,114
Lanco Infratech, Ltd. (a)		26,696		2,562
Larsen & Toubro, Ltd. GDR		17,879		346,853
LIC Housing Finance, Ltd.		11,737		90,490
Lupin, Ltd.		7,138		198,232
Magma Fincorp, Ltd.		6,387		8,848
Mahanagar Telephone Nigam, Ltd. (a)		41,986		14,121
Mahindra & Mahindra Financial Services, Ltd.		10,582		38,733
Mahindra & Mahindra, Ltd. GDR		20,421		392,083
Marico, Ltd.		2,368		8,095
Marico, Ltd. (a)		2,696		9,216
Marksans Pharma, Ltd.		9,158		14,494
Maruti Suzuki India, Ltd.		8,445		590,003
Mindtree, Ltd.		1,108		24,013
Monnet Ispat & Energy, Ltd. (a)		4,697		2,510
MRF, Ltd.		104		62,689
NCC, Ltd.		14,678		16,818
NTPC, Ltd.		74,557		164,821
Oil & Natural Gas Corp., Ltd.		106,190		388,042
OnMobile Global, Ltd.		3,266		6,423
Opto Circuits India, Ltd. (a)		4,207		808
Page Industries, Ltd.		131		26,474
PS IT Infrastructure & Services, Ltd. (a)		1,057		111
PTC India, Ltd.		34,139		34,497
Punj Lloyd, Ltd. (a)		8,659		3,560
Rajesh Exports, Ltd.		5,560		57,322
RattanIndia Infrastructure, Ltd. (a)		42,330		2,111
REI Agro, Ltd. (a)		868,794		9,849
Reliance Capital, Ltd.		4,696		31,112
Reliance Communications, Ltd. (a)		57,769		77,062
Reliance Industries, Ltd. GDR (d)		37,421		1,145,457
Reliance Infrastructure, Ltd.		13,806		113,516
Rolta India, Ltd.		4,398		6,674
Ruchi Soya Industries, Ltd.		25,101		11,155
SE Investments, Ltd.		12,015		49,536
Sharda Cropchem, Ltd.		1,628		5,931
Shree Renuka Sugars, Ltd. (a)		56,777		10,985
Shriram Transport Finance Co., Ltd.		4,877		63,303
Siemens, Ltd.		12,587		228,438
Sintex Industries, Ltd.		31,719		48,809
SKS Microfinance, Ltd. (a)		2,147		16,196
State Bank of India GDR		5,407		182,486
Strides Arcolab, Ltd.		1,401		27,305
Sun Pharma Advanced Research Co., Ltd. (a)		1,683		8,643
Sun Pharmaceutical Industries, Ltd.		44,403		550,471
Sun TV Network, Ltd.		4,179		26,935
Suzlon Energy, Ltd. (a)		239,009		75,327
Symphony, Ltd.		354		12,364
Tata Communications, Ltd.		9,387		61,843
Tata Consultancy Services, Ltd.		25,593		942,712
Tata Elxsi, Ltd.		801		27,170
Tata Motors, Ltd. ADR (a) (b)		14,718		433,739
Tata Power Co., Ltd.		135,452		139,022
Tata Steel, Ltd.		20,006		78,565
Tech Mahindra, Ltd.		18,000		141,932
UltraTech Cement, Ltd.		203		8,532
Unitech, Ltd. (a)		87,572		8,803
United Breweries, Ltd.		2,938		42,081
United Spirits, Ltd. (a)		2,630		118,923
UPL, Ltd.		5,448		36,078
Vedanta, Ltd.		19,366		26,463
Videocon Industries, Ltd.		15,133		27,918
VST Industries, Ltd.		1,093		28,058
Welspun India, Ltd.		1,038		14,323
Wipro, Ltd. ADR (b)		32,307		372,823
Wockhardt, Ltd.		1,286		29,716
Zee Entertainment Enterprises, Ltd.		23,040		152,279
				18,355,301
INDONESIA — 2.7%
Alam Sutera Realty Tbk PT		371,400		9,241
Astra International Tbk PT		1,235,388		537,710
Bank Central Asia Tbk PT		815,287		786,603
Bank Danamon Indonesia Tbk PT		248,218		57,620
Bank Mandiri Persero Tbk PT		616,249		413,515
Bank Negara Indonesia Persero Tbk PT		100,100		36,235
Bank Rakyat Indonesia Persero Tbk PT		618,065		512,252
Barito Pacific Tbk PT (a)		491,500		4,635
Bekasi Fajar Industrial Estate Tbk PT		231,300		4,933
Bumi Resources Tbk PT (a)		978,600		3,550
Bumi Serpong Damai Tbk PT		196,900		25,711
Charoen Pokphand Indonesia Tbk PT		214,800		40,514
Ciputra Development Tbk PT		306,100		32,420
Citra Marga Nusaphala Persada Tbk PT (a)		70,113		12,385
Garuda Indonesia Persero Tbk PT (a)		659,100		14,774
Global Mediacom Tbk PT		32,000		2,553
Indocement Tunggal Prakarsa Tbk PT		26,300		42,593
Indofood Sukses Makmur Tbk PT		542,451		203,640
Indosat Tbk PT (a)		130,800		52,187
Japfa Comfeed Indonesia Tbk PT (a)		56,500		2,603
Kalbe Farma Tbk PT		2,716,467		260,119
Kawasan Industri Jababeka Tbk PT		252,349		4,522
Lippo Cikarang Tbk PT (a)		9,600		5,049
Lippo Karawaci Tbk PT		636,700		47,804
Matahari Putra Prima Tbk PT		32,200		4,263
Mayora Indah Tbk PT		18,367		40,638
Medco Energi Internasional Tbk PT		340,300		19,626
Media Nusantara Citra Tbk PT		41,700		5,611
Modernland Realty Tbk PT		398,200		13,490
Pakuwon Jati Tbk PT		280,500		10,093
Perusahaan Gas Negara Persero Tbk PT		746,100		148,571
Semen Indonesia Persero Tbk PT		42,000		34,733
Sigmagold Inti Perkasa Tbk PT (a)		639,000		20,303
Summarecon Agung Tbk PT		216,800		25,950
Telekomunikasi Indonesia Persero Tbk PT		1,888,000		425,262
Tiga Pilar Sejahtera Food Tbk PT		306,100		26,868
Unilever Indonesia Tbk PT		31,200		83,743
United Tractors Tbk PT		131,415		161,588

46

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
XL Axiata Tbk PT (a)		32,500	$	8,605
				4,142,512
MALAYSIA — 3.0%
Aeon Co. M Bhd		402,090		255,667
AEON Credit Service M Bhd		5,500		15,244
AirAsia Bhd		62,400		18,748
Alliance Financial Group Bhd		239,800		198,833
Axiata Group Bhd		72,461		108,181
Berjaya Sports Toto Bhd		115,314		81,916
Bintulu Port Holdings Bhd		94		157
British American Tobacco Malaysia Bhd		2,300		30,042
Bursa Malaysia Bhd		49,193		95,671
Capitaland Malaysia Mall Trust REIT		78,200		25,135
Carlsberg Brewery Malaysia Bhd Class B		122,776		334,571
CIMB Group Holdings Bhd		46,878		49,569
Dialog Group Bhd		841,667		313,652
DiGi.Com Bhd		308,600		388,131
Felda Global Ventures Holdings Bhd		23,700		9,439
Genting Bhd		186,300		318,491
Genting Malaysia Bhd		29,500		30,094
Guan Chong Bhd (a)		53,700		16,885
Hap Seng Plantations Holdings Bhd		7,400		4,136
IHH Healthcare Bhd		42,100		64,520
IOI Corp. Bhd		295,060		306,502
IOI Properties Group Bhd		213,450		111,858
Iskandar Waterfront City Bhd (a)		21,500		5,058
KLCCP Stapled Group		31,000		50,975
KNM Group Bhd (a)		253,421		30,102
KPJ Healthcare Bhd		21,520		21,152
Lingkaran Trans Kota Holdings Bhd		20,100		23,407
Magnum Bhd		177,160		103,569
Malayan Banking Bhd		136,970		267,974
Malaysian Resources Corp. Bhd		328,700		97,994
MPHB Capital Bhd (a)		88,630		32,822
Naim Holdings Bhd		87		50
OSK Holdings Bhd		344,106		130,638
Pavilion Real Estate Investment Trust		74,400		26,859
Pos Malaysia Bhd		58,400		37,813
Public Bank Bhd		43,300		186,774
SapuraKencana Petroleum Bhd		30,900		14,538
Sime Darby Bhd		53,334		96,271
SP Setia Bhd Group		18,749		13,974
Sunway Real Estate Investment Trust		77,300		26,286
TA Enterprise Bhd		303,900		42,115
TA Global Bhd		243,756		15,329
Telekom Malaysia Bhd		38,827		61,313
Tenaga Nasional Bhd		41,700		129,369
UEM Edgenta Bhd		39,500		30,452
UEM Sunrise Bhd		245,688		64,090
UMW Holdings Bhd		17,500		32,078
Unisem M Bhd		18,900		10,477
United Plantations Bhd		4,000		23,626
VS Industry Bhd		78,000		28,522
WCT Holdings Bhd		441,795		165,667
				4,546,736
MALTA — 0.0%(e)
Tiso Blackstar Group SE		135		77
MEXICO — 5.0%
Alfa SAB de CV Class A (b)		242,738		479,260
America Movil SAB de CV Series L		1,341,104		941,117
Axtel SAB de CV (a) (b)		94,504		47,605
Cemex SAB de CV (a)		635,535		347,000
Coca-Cola Femsa SAB de CV Series L		36,084		258,860
Consorcio ARA SAB de CV		93,899		32,512
Desarrolladora Homex SAB de CV (a)		1,986		496
El Puerto de Liverpool SAB de CV Series C1		20,802		253,064
Empresas ICA SAB de CV (a) (b)		38,499		7,913
Fibra Uno Administracion SA de CV		80,426		176,907
Fomento Economico Mexicano SAB de CV		117,796		1,102,380
Grupo Aeroportuario del Sureste SAB de CV Class B		27,172		383,702
Grupo Bimbo SAB de CV Series A (a) (b)		171,711		456,838
Grupo Elektra SAB de CV (b)		2,920		64,084
Grupo Financiero Banorte SAB de CV Series O		90,410		497,248
Grupo Financiero Inbursa SAB de CV Series O (b)		72,474		130,503
Grupo Mexico SAB de CV Series B		178,885		381,050
Grupo Televisa SAB Series CPO		109,694		599,180
Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (a)		97,755		154,235
Industrias CH SAB de CV Series B (a) (b)		25,116		80,956
Industrias Penoles SAB de CV		8,712		89,394
Kimberly-Clark de Mexico SAB de CV Class A		151,874		354,994
Sare Holding SAB de CV Class B (a)		105,296		1,677
Telesites SAB de CV (a)		67,055		43,523
TV Azteca SAB de CV		216,021		30,143
Urbi Desarrollos Urbanos SAB de CV (a) (b)		44,913		—
Wal-Mart de Mexico SAB de CV (b)		286,907		722,453
				7,637,094
MONACO — 0.0% (e)
GasLog, Ltd. (b)		964		8,001
MOROCCO — 0.3%
Banque Marocaine du Commerce et de l’Industrie		1,242		80,160
BMCE Bank		12,280		265,014
Douja Promotion Groupe Addoha SA		10,311		24,665
Holcim Maroc		544		94,359
				464,198
NETHERLANDS — 0.4%
Steinhoff International Holdings NV (b)		116,893		592,254
VimpelCom, Ltd. ADR		19,427		63,720
				655,974
PERU — 0.6%
Cia de Minas Buenaventura SAA ADR		18,707		80,066
Credicorp, Ltd.		4,183		407,089
Southern Copper Corp.		14,780		386,054
Volcan Cia Minera SAA Class B		283,982		15,816
				889,025
PHILIPPINES — 1.7%
Alliance Global Group, Inc.		117,000		40,032
Ayala Land, Inc.		751,980		550,541

47

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bank of the Philippine Islands		271,097	$	483,083
BDO Unibank, Inc.		191,974		428,377
Bloomberry Resorts Corp.		44,200		4,265
Cebu Air, Inc.		81,520		142,666
Cebu Holdings, Inc.		413,900		45,564
D&L Industries, Inc.		124,000		24,112
DoubleDragon Properties Corp.		82,000		42,520
East West Banking Corp. (a)		46,900		18,878
Filinvest Land, Inc.		3,460,000		133,091
First Philippine Holdings Corp.		22,830		31,561
Global Ferronickel Holdings, Inc. (a)		268,000		3,930
GMA Holdings, Inc.		200,300		30,733
GT Capital Holdings, Inc.		530		14,868
JG Summit Holdings, Inc.		27,180		42,340
Megawide Construction Corp. (a)		260,788		34,362
Megaworld Corp.		377,300		34,078
Nickel Asia Corp.		31,300		4,157
Philippine Long Distance Telephone Co.		5,760		252,164
Puregold Price Club, Inc.		18,400		13,569
San Miguel Corp.		7,900		8,378
SM Investments Corp.		6,190		113,658
SM Prime Holdings, Inc.		174,690		80,560
Top Frontier Investment Holdings, Inc. (a)		941		1,352
Universal Robina Corp.		13,070		51,663
Vista Land & Lifescapes, Inc.		59,900		6,594
				2,637,096
POLAND — 1.1%
Asseco Poland SA		4,857		69,861
Bank Pekao SA		8,860		321,961
Bank Zachodni WBK SA (a)		1,310		94,212
Bioton SA (a)		72		217
Eurocash SA		456		5,600
Getin Holding SA (a)		17,387		5,372
Getin Noble Bank SA (a)		48,395		7,353
Globe Trade Centre SA (a)		15,055		27,259
Grupa Lotos SA (a)		9,415		64,373
KGHM Polska Miedz SA		9,488		152,545
LPP SA		24		33,761
mBank SA (a)		1,433		113,945
Orange Polska SA		58,091		96,501
Orbis SA		4,548		70,714
PGE Polska Grupa Energetyczna SA		33,055		107,060
Polimex-Mostostal SA (a)		854		1,246
Polski Koncern Naftowy Orlen SA		12,551		215,649
Powszechna Kasa Oszczednosci Bank Polski SA (a)		26,266		181,782
Powszechny Zaklad Ubezpieczen SA		16,894		145,541
				1,714,952
QATAR — 0.8%
Aamal Co.		3,029		11,634
Industries Qatar QSC		2,507		76,470
Mannai Corp. QSC		1,647		43,094
Masraf Al Rayan QSC		17,863		184,402
Mazaya Qatar Real Estate Development QSC		9,240		36,024
Medicare Group		1,335		43,727
National Leasing		14,359		55,586
Ooredoo QSC		4,583		94,370
Qatar Electricity & Water Co. QSC		438		26,023
Qatar Insurance Co. SAQ		2,880		64,838
Qatar National Bank SAQ		8,497		408,252
Qatari Investors Group QSC		4,923		50,956
Vodafone Qatar QSC		17,777		61,985
				1,157,361
RUSSIA — 3.4%
Evraz PLC (a)		10,946		11,818
Gazprom PAO ADR		257,668		951,439
LSR Group PJSC GDR		1,590		3,180
LSR Group PJSC GDR		5,020		10,040
Lukoil PJSC ADR		21,009		676,490
Magnit PJSC GDR		7,208		289,906
Mail.Ru Group, Ltd. GDR (a)		1,944		43,837
Mechel ADR (a)		15,475		12,655
MMC Norilsk Nickel PJSC ADR		30,756		389,525
Mobile TeleSystems PJSC ADR		42,159		260,543
Novatek OAO GDR (c)		746		61,284
Novatek OAO GDR (c)		3,318		272,574
Novolipetsk Steel OJSC GDR (c)		1,272		10,825
Novolipetsk Steel OJSC GDR (c)		388		3,302
Novorossiysk Commercial Sea Port PJSC GDR (c)		2,522		9,735
Novorossiysk Commercial Sea Port PJSC GDR (c)		544		2,100
Pharmstandard PJSC GDR (a)		244		1,024
Polymetal International PLC		6,032		51,965
Rosneft OAO GDR		67,855		235,864
Rostelecom PJSC ADR		4,656		34,394
Sberbank of Russia PJSC ADR (c)		78,428		454,098
Sberbank of Russia PJSC ADR (c)		3,113		18,304
Severstal PAO GDR		23,584		197,280
Sistema JSFC GDR		7,332		43,259
Surgutneftegas OAO ADR		90,997		419,769
Tatneft PAO ADR		14,447		380,678
TMK PAO GDR		1,907		6,102
TMK PAO GDR		605		1,936
VTB Bank PJSC GDR		103,647		218,592
X5 Retail Group NV GDR (a)		2,033		38,525
Yandex NV Class A (a)		5,603		88,079
				5,199,122
SOUTH AFRICA — 6.4%
Adbee Rf, Ltd. (a)		869		1,746
Adcock Ingram Holdings, Ltd.		4,924		15,882
Adcorp Holdings, Ltd.		28,430		36,016
African Bank Investments, Ltd. (a)		183,473		—
African Rainbow Minerals, Ltd.		6,062		16,998
Allied Electronics Corp., Ltd.		33,799		11,997
Anglo American Platinum, Ltd. (a) (b)		1,656		19,807
AngloGold Ashanti, Ltd. (a)		14,597		100,099
Aquarius Platinum, Ltd. (a)		56,486		9,366
ArcelorMittal South Africa, Ltd. (a) (b)		8,752		2,542
Aspen Pharmacare Holdings, Ltd. (a)		14,534		290,277
Aveng, Ltd. (a) (b)		32,714		4,771
Barclays Africa Group, Ltd.		19,665		182,100
Barloworld, Ltd.		13,994		55,965
Bidvest Group, Ltd.		20,514		434,507
Coronation Fund Managers, Ltd. (b)		29,560		100,915
Discovery, Ltd.		20,155		172,928
FirstRand, Ltd.		155,166		424,277
Foschini Group, Ltd.		12,762		100,297

48

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Gold Fields, Ltd.		32,548	$	88,640
Grindrod, Ltd.		55,056		40,114
Group Five, Ltd.		15,643		20,170
Harmony Gold Mining Co., Ltd. (a) (b)		13,179		13,268
Impala Platinum Holdings, Ltd. (a) (b)		23,399		37,812
Imperial Holdings, Ltd.		10,806		83,237
Investec, Ltd.		11,923		84,255
Invicta Holdings, Ltd.		22,317		64,680
Kumba Iron Ore, Ltd. (b)		2,320		6,168
Lewis Group, Ltd. (b)		14,140		50,116
Massmart Holdings, Ltd. (b)		9,207		59,417
MMI Holdings, Ltd.		52,340		74,311
Mr Price Group, Ltd.		9,593		123,817
MTN Group, Ltd.		59,270		508,302
Murray & Roberts Holdings, Ltd.		39,190		20,233
Naspers, Ltd. Class N		17,032		2,330,215
Nedbank Group, Ltd.		15,907		193,619
Netcare, Ltd.		123,131		269,378
Northam Platinum, Ltd. (a)		16,467		28,044
PPC, Ltd.		11,990		11,916
PSG Group, Ltd.		13,378		192,958
Rand Merchant Insurance Holdings, Ltd.		64,947		162,247
Remgro, Ltd.		25,259		399,713
RMB Holdings, Ltd.		52,938		189,983
Sanlam, Ltd.		83,358		325,675
Sappi, Ltd. (a)		16,622		70,004
Sasol, Ltd.		19,565		529,545
Shoprite Holdings, Ltd.		27,907		258,008
Sibanye Gold, Ltd.		36,900		54,413
Standard Bank Group, Ltd.		53,633		392,846
Sun International, Ltd.		9,732		58,503
Telkom SA SOC, Ltd.		15,755		65,407
Tiger Brands, Ltd.		11,504		234,928
Trans Hex Group, Ltd.		1,685		299
Truworths International, Ltd. (b)		22,584		132,847
Vodacom Group, Ltd.		20,615		202,764
Wilson Bayly Holmes-Ovcon, Ltd.		13,551		99,047
Woolworths Holdings, Ltd.		48,001		310,238
Zambezi Platinum RF, Ltd. Series ZPLP, Preference Shares		4,228		10,641
				9,778,268
TAIWAN — 14.1%
Acer, Inc. (a)		158,701		58,461
Adlink Technology, Inc.		29,993		69,397
Advanced Ceramic X Corp.		4,000		26,547
Advanced Semiconductor Engineering, Inc.		354,184		409,748
Advanced Wireless Semiconductor Co.		13,000		35,224
Advancetek Enterprise Co., Ltd.		142,000		74,573
Advantech Co., Ltd.		5,000		32,195
AGV Products Corp. (a)		291,000		79,556
Airmate Cayman International Co., Ltd. (a)		11,000		7,418
APCB, Inc.		56,000		20,458
Asustek Computer, Inc.		32,340		267,802
AU Optronics Corp. ADR		60,015		174,644
Audix Corp.		41,600		40,527
Bank of Kaohsiung Co., Ltd.		90,588		24,242
Basso Industry Corp.		154,900		297,567
Biostar Microtech International Corp. (a)		113,000		24,460
C Sun Manufacturing, Ltd.		54,000		20,550
Carnival Industrial Corp. (a)		115,000		18,206
Catcher Technology Co., Ltd.		34,000		285,688
Cathay Financial Holding Co., Ltd.		294,541		415,175
Cathay No 1 REIT		76,000		41,000
Center Laboratories, Inc. (a)		36,124		81,713
Chailease Holding Co., Ltd.		31,608		54,754
Champion Building Materials Co., Ltd. (a)		79,000		16,788
Chang Hwa Commercial Bank, Ltd.		439,431		210,036
Chang Wah Electromaterials, Inc.		8,257		21,568
Charoen Pokphand Enterprise		270,060		189,100
Chen Full International Co., Ltd.		12,000		18,413
Cheng Loong Corp.		34,000		11,748
Cheng Shin Rubber Industry Co., Ltd.		19,850		32,210
China Airlines, Ltd. (a)		110,000		40,186
China Chemical & Pharmaceutical Co., Ltd.		88,000		52,912
China Development Financial Holding Corp.		697,945		174,874
China Steel Chemical Corp.		37,595		121,894
China Steel Corp.		448,451		245,066
Chipbond Technology Corp.		17,000		24,610
Chlitina Holding, Ltd.		2,000		20,915
Chong Hong Construction Co., Ltd.		7,717		11,254
Chung Hwa Pulp Corp.		111,794		33,150
Chunghwa Chemical Synthesis & Biotech Co., Ltd.		35,000		42,036
Chunghwa Telecom Co., Ltd.		144,457		435,829
CMC Magnetics Corp. (a)		145,933		15,372
Coland Holdings, Ltd.		11,938		19,989
Compal Electronics, Inc.		291,774		164,332
Coxon Precise Industrial Co., Ltd.		10,000		15,146
CTBC Financial Holding Co., Ltd.		733,081		377,175
Da-Li Development Co., Ltd.		72,636		45,001
Delta Electronics, Inc.		115,167		545,209
Dimerco Express Corp.		156,000		76,701
E.Sun Financial Holding Co., Ltd.		86,000		50,139
Eclat Textile Co., Ltd.		8,486		117,161
Elan Microelectronics Corp.		2,000		2,789
Elite Advanced Laser Corp.		8,000		31,418
Elite Material Co., Ltd.		13,000		22,757
Elite Semiconductor Memory Technology, Inc.		92,750		85,982
Epistar Corp.		36,180		28,088
Etron Technology, Inc.		12,445		5,304
Eva Airways Corp. (a)		70,782		40,081
Excelsior Medical Co., Ltd.		23,344		35,037
Far Eastern New Century Corp.		316,850		248,391
Feng TAY Enterprise Co., Ltd.		14,060		71,912
Flytech Technology Co., Ltd.		8,854		25,608
Formosa Chemicals & Fibre Corp.		154,243		347,489
Formosa Plastics Corp.		239,714		561,938
Founding Construction & Development Co., Ltd.		233,407		120,800
Foxconn Technology Co., Ltd.		73,281		155,276
Fubon Financial Holding Co., Ltd.		367,903		504,023
Fullerton Technology Co., Ltd.		28,000		19,862
Fwusow Industry Co., Ltd.		111,627		49,786
Giant Manufacturing Co., Ltd.		23,302		155,361
Grape King Bio, Ltd.		24,664		137,410
Great Wall Enterprise Co., Ltd.		30,300		19,095

49

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
HannStar Display Corp. (a)		81,500	$	9,652
Hermes Microvision, Inc.		3,000		109,142
Himax Technologies, Inc. ADR (b)		2,907		23,837
Hiwin Technologies Corp.		9,178		36,184
Hocheng Corp.		165,000		41,593
Hon Hai Precision Industry Co., Ltd.		531,905		1,308,428
Hong TAI Electric Industrial		105,000		27,203
Hota Industrial Manufacturing Co., Ltd.		9,000		33,154
Hotai Motor Co., Ltd.		23,433		271,091
HTC Corp.		51,198		121,577
Hua Nan Financial Holdings Co., Ltd.		442,942		205,646
Hung Sheng Construction, Ltd. (a)		61,000		34,356
Ibase Technology, Inc.		88,165		135,279
Innolux Corp.		223,820		67,731
Inotera Memories, Inc. (a)		73,000		62,117
Iron Force Industrial Co., Ltd.		6,000		28,861
Janfusun Fancyworld Corp. (a)		334,112		34,075
KEE TAI Properties Co., Ltd.		59,000		28,380
Kenda Rubber Industrial Co., Ltd.		4,673		6,886
Kerry TJ Logistics Co., Ltd.		50,000		58,909
Kindom Construction Corp.		40,000		20,032
Kung Long Batteries Industrial Co., Ltd.		9,000		36,168
Kuoyang Construction Co., Ltd.		41,225		13,492
Kwong Fong Industries Corp.		26,300		14,492
Land Mark Optoelectronics Corp.		2,000		29,957
Largan Precision Co., Ltd.		4,000		276,433
Leofoo Development Co., Ltd.		107,000		35,670
Li Cheng Enterprise Co., Ltd.		6,000		27,948
Lite-On Technology Corp.		154,321		149,637
Long Bon International Co., Ltd.		11,000		6,932
Long Chen Paper Co., Ltd.		703,401		228,064
Makalot Industrial Co., Ltd.		4,000		28,374
MediaTek, Inc.		50,329		383,056
Medigen Biotechnology Corp. (a)		5,248		13,660
Mega Financial Holding Co., Ltd.		334,333		216,293
Merida Industry Co., Ltd.		2,100		11,316
Merry Electronics Co., Ltd.		13,356		23,827
Mosel Vitelic, Inc. (a)		3,758		286
Namchow Chemical Industrial Co., Ltd.		49,000		101,291
Nan Ya Plastics Corp.		234,486		435,463
Nanya Technology Corp.		3,603		5,013
National Petroleum Co., Ltd.		290,003		316,958
Neo Solar Power Corp.		13,870		10,261
New Era Electronics Co., Ltd.		22,000		14,969
Newmax Technology Co., Ltd. (a)		23,185		11,999
Nexcom International Co., Ltd.		67,638		61,878
Novatek Microelectronics Corp.		29,225		114,775
OBI Pharma, Inc. (a)		3,000		59,823
Pacific Hospital Supply Co., Ltd.		19,000		43,788
Pan Jit International, Inc. (a)		9,000		4,028
Parade Technologies, Ltd.		4,000		26,852
PChome Online, Inc.		3,000		30,048
Pegatron Corp.		51,686		113,295
Phytohealth Corp. (a)		9,000		7,631
Pihsiang Machinery Manufacturing Co., Ltd.		22,000		47,621
Portwell, Inc.		23,000		29,339
Pou Chen Corp.		194,462		255,162
Powertech Technology, Inc.		63,285		125,618
Precision Silicon Corp.		909		422
Promate Electronic Co., Ltd.		53,000		47,842
ProMOS Technologies, Inc. (a)		130,950		—
Quanta Computer, Inc.		202,664		327,007
Radiant Opto-Electronics Corp.		14,000		32,137
Sampo Corp.		194,000		70,283
Sesoda Corp.		72,648		70,996
Shih Wei Navigation Co., Ltd.		100,321		36,650
Shin Kong Financial Holding Co., Ltd.		257,663		56,087
Silicon Motion Technology Corp. ADR (b)		804		25,213
Siliconware Precision Industries Co., Ltd.		116,473		185,452
Sinbon Electronics Co., Ltd.		68,592		128,217
Sinon Corp.		106,000		41,952
SinoPac Financial Holdings Co., Ltd.		657,784		187,641
Sinphar Pharmaceutical Co., Ltd.		71,120		61,816
Solar Applied Materials Technology Co.		152,250		87,836
Solartech Energy Corp.		10,041		6,206
Stark Technology, Inc.		49,000		36,324
Supreme Electronics Co., Ltd.		132,347		52,178
Ta Ya Electric Wire & Cable (a)		339,000		47,578
Tainan Enterprises Co., Ltd.		38,000		34,070
Taishin Financial Holding Co., Ltd.		588,836		204,364
Taisun Enterprise Co., Ltd. (a)		137,000		50,259
Taiwan Acceptance Corp.		9,000		20,166
Taiwan Cement Corp.		258,533		214,874
Taiwan Chinsan Electronic Industrial Co., Ltd.		26,000		29,287
Taiwan Cogeneration Corp.		40,000		28,191
Taiwan Fire & Marine Insurance Co., Ltd.		21,000		13,682
Taiwan FU Hsing Industrial Co., Ltd.		31,000		41,148
Taiwan Land Development Corp.		175,345		56,318
Taiwan Mobile Co., Ltd.		4,000		12,178
Taiwan Paiho, Ltd.		41,433		91,829
Taiwan Pulp & Paper Corp. (a)		272,000		89,847
Taiwan Sakura Corp.		88,000		49,027
Taiwan Semiconductor Manufacturing Co., Ltd.		609,500		2,653,469
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		21,942		499,181
Taiwan TEA Corp.		92,913		41,723
Taiwan Union Technology Corp.		113,000		92,885
Taiyen Biotech Co., Ltd.		43,500		39,730
Tatung Co., Ltd. (a)		150,885		25,632
TPK Holding Co., Ltd.		8,000		20,093
Transasia Airways Corp.		225,784		57,328
Tripod Technology Corp.		63,320		107,953
TrueLight Corp.		13,000		34,749
Tung Thih Electronic Co., Ltd.		5,000		48,711
Uni-President Enterprises Corp.		106,993		178,827
United Microelectronics Corp. ADR (b)		219,612		412,871
Unity Opto Technology Co., Ltd.		12,759		7,419
Ve Wong Corp.		51,000		35,556
Visual Photonics Epitaxy Co., Ltd.		102,869		147,976
Wei Chuan Foods Corp. (a)		28,000		14,918
Wei Mon Industry Co., Ltd. (a)		240,450		6,588
Weikeng Industrial Co., Ltd.		57,000		33,145
Winbond Electronics Corp. (a)		41,000		9,848
Wistron Corp.		138,141		78,224
Zeng Hsing Industrial Co., Ltd.		21,350		89,698

50

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Zenitron Corp.		123,000	$	59,165
				21,465,442
THAILAND — 2.8%
Advanced Info Service PCL		92,215		389,515
Airports of Thailand PCL		15,000		144,227
Bangkok Dusit Medical Services PCL		42,000		26,027
Bangkok Expressway & Metro PCL (a)		2,744,508		330,488
Bangkok Land PCL		595,000		23,810
Bank of Ayudhya PCL		21,500		17,775
Banpu PCL		120,080		53,391
BEC World PCL		23,000		19,494
Big C Supercenter PCL		3,100		17,402
BTS Group Holdings PCL		27,500		6,954
Bumrungrad Hospital PCL		6,900		40,459
Central Pattana PCL		44,300		57,860
Central Plaza Hotel PCL		32,800		40,106
CH Karnchang PCL		5,648		4,552
Charoen Pokphand Foods PCL		16,500		8,391
CP ALL PCL		154,000		167,973
Electricity Generating PCL		68,874		289,966
IRPC PCL		773,158		92,388
Jasmine International PCL		233,941		21,063
Kasikornbank PCL		49,600		206,064
Krung Thai Bank PCL		38,300		17,774
Land & Houses PCL		62,000		15,851
Minor International PCL		7,100		7,152
Pruksa Real Estate PCL		22,500		16,569
PTT Exploration & Production PCL		97,630		155,324
PTT Global Chemical PCL		18,800		26,122
PTT PCL		49,136		333,172
Quality Houses PCL (b)		208,483		13,325
Sansiri PCL		216,633		9,151
Siam Cement PCL		33,223		421,000
Siam Commercial Bank PCL		99,102		329,101
Siam Future Development PCL		152,013		26,402
Tesco Lotus Retail Growth Freehold & Leasehold Property Fund		74,866		27,878
Thai Airways International PCL (a)		53,200		13,601
Thai Beverage PCL (b)		341,600		166,147
Thai Oil PCL		95,395		174,964
Thaicom PCL		34,000		27,400
TICON Industrial Connection PCL		99,180		32,798
Tisco Financial Group PCL NVDR		4,400		5,197
Tisco Financial Group PCL		139,418		164,659
TMB Bank PCL		3,868,917		260,186
Total Access Communication PCL (c)		6,200		5,212
Total Access Communication PCL (c)		200		168
True Corp. PCL (a)		317,573		59,128
TTCL PCL		6,200		2,688
U City PCL (a) (b)		7,078,800		5,901
				4,274,775
TURKEY — 1.5%
Akbank TAS		87,580		201,033
Anadolu Efes Biracilik Ve Malt Sanayii A/S		18,823		121,817
Aselsan Elektronik Sanayi Ve Ticaret A/S		2,601		15,033
BIM Birlesik Magazalar A/S		3,428		60,307
Coca-Cola Icecek A/S		392		4,988
Dogan Sirketler Grubu Holding A/S (a)		134,339		26,234
Eregli Demir ve Celik Fabrikalari TAS		129,503		134,878
Haci Omer Sabanci Holding A/S		46,717		132,524
KOC Holding A/S		70,114		262,551
Migros Ticaret A/S (a)		733		4,382
Tupras Turkiye Petrol Rafinerileri A/S (a)		9,574		228,292
Turk Hava Yollari AO (a)		22,997		58,224
Turkcell Iletisim Hizmetleri A/S		40,263		136,562
Turkiye Garanti Bankasi A/S		173,760		423,856
Turkiye Halk Bankasi A/S		8,956		31,880
Turkiye Is Bankasi		109,399		172,409
Turkiye Vakiflar Bankasi TAO Class D		15,291		20,064
Ulker Biskuvi Sanayi A/S		24,176		145,776
Yapi ve Kredi Bankasi A/S		70,376		79,325
				2,260,135
UNITED ARAB EMIRATES — 0.9%
Abu Dhabi Commercial Bank PJSC		78,975		141,695
Agthia Group PJSC		6,141		12,824
Air Arabia PJSC		182,453		67,557
Ajman Bank PJSC (a)		49,823		28,079
Al Waha Capital PJSC		35,648		20,964
Aldar Properties PJSC		153,065		96,681
Arabtec Holding PJSC (a)		97,268		33,102
Bank of Sharjah		35,836		15,025
DAMAC Properties Dubai Co. PJSC		126,853		80,125
Depa, Ltd. (a)		25,085		10,636
Deyaar Development PJSC (a)		120,290		16,833
DP World, Ltd.		6,253		126,936
Dubai Financial Market PJSC		72,505		24,280
Dubai Investments PJSC		58,713		32,290
Emaar Malls Group PJSC (a)		38,686		29,070
Emaar Properties PJSC		132,173		204,755
Eshraq Properties Co. PJSC (a)		92,846		13,903
First Gulf Bank PJSC		25,093		86,422
Gulf General Investment Co. (a)		80,753		14,444
Gulf Pharmaceutical Industries		14,524		9,886
Invest bank PSC		11,762		6,404
National Bank of Abu Dhabi PJSC		49,335		106,917
National Central Cooling Co. PJSC		137,569		44,945
Orascom Construction, Ltd. (a)		690		4,830
RAK Properties PJSC		140,400		21,024
Ras Al Khaimah Ceramics		13,579		12,902
SHUAA Capital PSC (a)		189,594		20,957
Union National Bank PJSC		28,959		36,898
Union Properties PJSC		55,930		11,299
				1,331,683
TOTAL COMMON STOCKS (Cost $203,285,403)				151,286,200
WARRANTS — 0.0% (e)
MALAYSIA — 0.0% (e)
KNM Group Bhd (expiring 11/15/17) (a)		66,712		1,398
KNM Group Bhd (expiring 4/21/20) (a)		22,551		657
Malaysian Resources Corp. Bhd (expiring 9/16/18) (a)		123,400		4,742
OSK Holdings Bhd (expiring 7/22/20) (a)		101,001		7,293
VS Industry Bhd (expiring 1/6/19) (a)		19,500		—

51

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
WCT Holdings Bhd (expiring 8/27/20) (a)		108,949	$	4,821
				18,911
SOUTH AFRICA — 0.0% (e)
Adcock Ingram Holdings, Ltd. (expiring 7/26/19) (a)		335		91
THAILAND — 0.0% (e)
Minor International PCL (expiring 11/3/17) (a)		480		71
Sansiri PCL (expiring 11/24/17) (a)		75,433		293
				364
TOTAL WARRANTS (Cost $9,950)				19,366
RIGHTS — 0.0% (e)
BRAZIL — 0.0% (e)
Rumo Logistica Operadora Multimodal SA (expiring 2/1/16) (a)		1,108		42
HONG KONG — 0.0% (e)
GCL-Poly Energy Holdings, Ltd. (expiring 1/20/16) (a)		62,800		324
SOUTH AFRICA — 0.0% (e)
ArcelorMittal South Africa, Ltd. (expiring 1/15/16) (a) (b)		21,167		14
TOTAL RIGHTS (Cost $0)				380
SHORT-TERM INVESTMENT — 4.1%
UNITED STATES — 4.1%
State Street Navigator Securities Lending Prime Portfolio (f) (g) (Cost $6,265,447)		6,265,447		6,265,447
TOTAL INVESTMENTS — 103.6% (Cost $209,560,800)				157,571,393
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.6)%				(5,520,408	)
NET ASSETS — 100.0%			$	152,050,985

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 1.2% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) Amount shown represents less than 0.05% of net assets.

(f) Investment of cash collateral for securities loaned

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

ADS = American Depositary Shares

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

REIC = Real Estate Investment Company

REIT = Real Estate Investment Trust

52

SPDR S&P Emerging Markets ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open futures contracts purchased were as follows:
Futures Contracts	Expiration Date		Number of Contracts		Notional Value		Unrealized Depreciation
MSCI Taiwan Index Futures		01/28/2016		13	$	395,720	$	(3,734	)
Total unrealized depreciation on open futures contracts purchased							$	(3,734	)

53

SPDR S&P Emerging Markets Dividend ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
BRAZIL — 9.4%
AES Tiete SA Preference Shares		310,085	$	1,133,353
Alupar Investimento SA		100,669		334,609
Banco do Brasil SA ADR (a)		435,183		1,601,473
Banco do Estado do Rio Grande do Sul SA Class B, Preference Shares		462,358		684,845
CCR SA		1,961,249		6,221,466
CETIP SA — Mercados Organizados		155,796		1,476,739
Cia Energetica de Minas Gerais ADR (a)		2,293,567		3,440,351
Cia Paranaense de Energia Preference Shares		261,473		1,606,014
EcoRodovias Infraestrutura e Logistica SA		905,817		1,165,399
Grendene SA		156,162		664,712
Light SA		438,290		1,096,764
Multiplus SA		145,108		1,369,563
Transmissora Alianca de Energia Eletrica SA		470,194		1,990,711
				22,785,999
CHILE — 1.6%
Aguas Andinas SA Class A		2,470,330		1,267,517
Banco de Chile ADR		19,503		1,158,673
Banco Santander Chile		32,176,080		1,443,519
				3,869,709
CHINA — 11.2%
Agile Property Holdings, Ltd. (a)		4,330,000		2,413,579
Bank of China, Ltd. Class H		3,624,536		1,618,149
CIFI Holdings Group Co., Ltd.		10,442,000		2,330,879
Country Garden Holdings Co., Ltd. (a)		4,566,000		1,873,497
Evergrande Real Estate Group, Ltd. (a)		6,294,000		5,538,613
Greentown China Holdings, Ltd. (a) (b)		2,123,000		2,109,262
Jiangsu Expressway Co., Ltd. Class H		1,888,000		2,548,142
KWG Property Holding, Ltd.		2,718,500		2,016,912
Shenzhen Investment, Ltd.		4,172,829		1,954,461
SOHO China, Ltd. (a) (b)		3,422,000		1,660,190
TCL Communication Technology Holdings, Ltd. (a)		4,109,000		3,027,346
				27,091,030
COLOMBIA — 1.3%
Ecopetrol SA ADR (a)		458,875		3,216,714
CZECH REPUBLIC — 0.9%
Komercni banka A/S		11,218		2,232,299
HONG KONG — 1.8%
Xinyi Glass Holdings, Ltd. (a)		7,462,000		4,390,459
INDIA — 3.5%
Coal India, Ltd.		1,319,065		6,575,760
Indiabulls Housing Finance, Ltd.		51,285		571,097
NMDC, Ltd.		961,290		1,305,575
				8,452,432
INDONESIA — 1.4%
Indo Tambangraya Megah Tbk PT		1,362,800		565,980
Indocement Tunggal Prakarsa Tbk PT		1,216,600		1,970,301
Media Nusantara Citra Tbk PT		5,606,700		754,474
				3,290,755
MALAYSIA — 2.1%
British American Tobacco Malaysia Bhd		90,600		1,183,381
HAP Seng Consolidated Bhd		563,000		849,712
Malayan Banking Bhd		1,136,229		2,222,971
YTL Corp. Bhd		2,295,800		839,503
				5,095,567
MEXICO — 1.5%
Grupo Financiero Santander Mexico SAB de CV Class B, ADR (a)		184,674		1,601,124
Mexico Real Estate Management SA de CV (b)		758,466		959,547
PLA Administradora Industrial S de RL de CV (b)		624,572		1,012,195
				3,572,866
POLAND — 4.0%
Bank Handlowy w Warszawie SA		24,112		439,016
Bank Pekao SA		58,869		2,139,227
Energa SA		351,751		1,125,903
PGE Polska Grupa Energetyczna SA		1,013,953		3,284,027
Powszechny Zaklad Ubezpieczen SA		321,259		2,767,630
				9,755,803
RUSSIA — 1.2%
E.ON Russia JSC (b)		10,353,038		451,630
Moscow Exchange MICEX-RTS PJSC		2,013,955		2,524,787
				2,976,417
SOUTH AFRICA — 11.7%
Barclays Africa Group, Ltd.		144,449		1,337,613
Coronation Fund Managers, Ltd. (a)		416,345		1,421,358
Foschini Group, Ltd.		583,972		4,589,469
Growthpoint Properties, Ltd.		1,178,772		1,767,150
Hyprop Investments, Ltd.		171,759		1,145,577
Kumba Iron Ore, Ltd. (a)		494,950		1,315,991
MMI Holdings, Ltd.		837,574		1,189,160
MTN Group, Ltd.		552,442		4,737,764
Redefine Properties, Ltd.		3,665,851		2,294,779
Vodacom Group, Ltd.		869,600		8,553,176
				28,352,037
SOUTH KOREA — 3.5%
SK Telecom Co., Ltd.		45,631		8,386,406
TAIWAN — 28.3%
Asustek Computer, Inc.		793,000		6,566,688
Chicony Electronics Co., Ltd.		724,096		1,591,614
China Development Financial Holding Corp.		6,864,000		1,719,814
China Steel Chemical Corp.		272,000		881,907
Far Eastern New Century Corp.		2,858,615		2,240,976
Inventec Corp.		5,717,000		3,750,764
King’s Town Bank Co., Ltd.		1,015,000		723,080
Lite-On Technology Corp.		2,387,837		2,315,359
MediaTek, Inc.		599,000		4,559,016
Mega Financial Holding Co., Ltd.		2,614,019		1,691,110
Novatek Microelectronics Corp.		2,167,000		8,510,458
Radiant Opto-Electronics Corp.		2,149,300		4,933,699
Realtek Semiconductor Corp.		1,153,000		2,762,538
Ruentex Development Co., Ltd.		2,334,217		3,045,063
Ruentex Industries, Ltd.		1,333,000		2,491,741
Synnex Technology International Corp.		1,563,000		1,525,075

54

SPDR S&P Emerging Markets Dividend ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Taiwan Cement Corp.		3,327,000	$	2,765,157
Taiwan Mobile Co., Ltd.		1,631,200		4,966,055
Transcend Information, Inc.		467,000		1,218,434
Vanguard International Semiconductor Corp.		4,739,000		6,174,969
Wan Hai Lines, Ltd.		2,860,000		1,589,034
WPG Holdings, Ltd.		1,715,000		1,642,060
Yulon Nissan Motor Co., Ltd.		98,282		840,784
				68,505,395
THAILAND — 8.1%
Advanced Info Service PCL		1,327,145		5,605,837
Advanced Info Service PCL		30		127
BEC World PCL		744,300		630,850
BTS Group Holdings PCL		14,874,900		3,761,612
Intouch Holdings PCL NVDR		3,006,122		4,343,986
Krung Thai Bank PCL (a)		4,579,800		2,125,404
Land & Houses PCL NVDR (a)		7,144,814		1,876,296
Tisco Financial Group PCL NVDR		773,300		913,304
TTW PCL NVDR		1,451,341		427,517
				19,684,933
TURKEY — 8.2%
Eregli Demir ve Celik Fabrikalari TAS		5,262,120		5,480,530
Tofas Turk Otomobil Fabrikasi A/S		537,747		3,491,206
Turk Telekomunikasyon A/S		1,649,061		3,084,733
Turk Traktor ve Ziraat Makineleri A/S		27,832		663,177
Turkcell Iletisim Hizmetleri A/S		2,067,284		7,011,704
				19,731,350
TOTAL COMMON STOCKS (Cost $340,907,244)				241,390,171
SHORT-TERM INVESTMENT — 6.1%
UNITED STATES — 6.1%
State Street Navigator Securities Lending Prime Portfolio (c) (d) (Cost $14,776,060)		14,776,060		14,776,060
TOTAL INVESTMENT — 105.8% (Cost $355,683,304)				256,166,231
LIABILITIES IN EXCESS OF OTHER ASSETS — (5.8)%				(14,011,384	)
NET ASSETS — 100.0%			$	242,154,847

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Investment of cash collateral for securities loaned

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

NVDR = Non Voting Depositary Receipt

55

SPDR S&P Emerging Markets Dividend ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open forward foreign currency contracts were as follows:

Counterparty	Amount Sold	Amount Bought	Settlement Date	Net Unrealized Appreciation/ (Depreciation)
Citibank N.A.	BRL    1,395,450	USD    350,000	01/06/2016	$	(2,720	)
Barclays SA	BRL    800,000	USD    206,772	01/04/2016		4,560
				$	1,840

Abbreviations:

BRL — Brazilian Real

USD — U.S. Dollar

56

SPDR S&P BRIC 40 ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.9%
BRAZIL — 7.2%
Ambev SA ADR		369,882	$	1,649,674
Banco Bradesco SA ADR (a)		219,157		1,054,145
BRF SA ADR		55,059		760,915
Itau Unibanco Holding SA ADR		255,362		1,662,407
Ultrapar Participacoes SA ADR		36,471		556,183
				5,683,324
CHINA — 75.6%
Agricultural Bank of China, Ltd. Class H		2,171,000		887,992
Alibaba Group Holding, Ltd. ADR (a) (b)		94,289		7,662,867
Baidu, Inc. ADR (b)		22,760		4,302,550
Bank of China, Ltd. Class H		6,398,254		2,856,455
Bank of Communications Co., Ltd. Class H		1,855,000		1,306,852
China CITIC Bank Corp., Ltd. Class H (b)		1,039,000		672,991
China Construction Bank Corp. Class H		8,287,610		5,678,240
China Life Insurance Co., Ltd. Class H		626,000		2,023,354
China Merchants Bank Co., Ltd. Class H		385,860		911,110
China Mobile, Ltd.		464,000		5,238,608
China Overseas Land & Investment, Ltd.		364,560		1,279,463
China Pacific Insurance Group Co., Ltd. Class H		233,400		960,686
China Petroleum & Chemical Corp. Class H		2,145,174		1,295,383
CITIC, Ltd.		538,000		952,415
CNOOC, Ltd.		1,351,221		1,406,986
Ctrip.com International, Ltd. ADR (b)		23,885		1,106,592
Hengan International Group Co., Ltd.		64,500		609,201
Industrial & Commercial Bank of China, Ltd. Class H		6,494,960		3,922,042
JD.com, Inc. ADR (b)		74,950		2,418,262
Lenovo Group, Ltd. (a)		598,000		607,248
NetEase, Inc. ADR		6,166		1,117,526
PetroChina Co., Ltd. Class H		1,774,171		1,162,918
PICC Property & Casualty Co., Ltd. Class H		386,000		768,001
Ping An Insurance Group Co. of China, Ltd. Class H		426,000		2,363,567
Tencent Holdings, Ltd.		409,495		8,057,649
				59,568,958
INDIA — 8.4%
HDFC Bank, Ltd. ADR		34,405		2,119,348
ICICI Bank, Ltd. ADR		119,534		935,951
Infosys, Ltd. ADR (a)		167,899		2,812,308
Reliance Industries, Ltd. GDR (c)		24,986		764,572
				6,632,179
RUSSIA — 8.7%
Gazprom PAO ADR		507,566		1,874,187
Lukoil PJSC ADR		40,763		1,312,569
Magnit PJSC GDR		24,647		991,302
MMC Norilsk Nickel PJSC ADR		55,882		707,746
Sberbank of Russia PJSC ADR (d)		14,597		84,517
Sberbank of Russia PJSC ADR (d)		221,355		1,301,567
Tatneft PAO ADR		20,150		530,953
				6,802,841
TOTAL COMMON STOCKS (Cost $97,102,258)				78,687,302
SHORT-TERM INVESTMENT — 1.2%
UNITED STATES — 1.2%
State Street Navigator Securities Lending Prime Portfolio (e) (f) (Cost $969,629)		969,629		969,629
TOTAL INVESTMENTS — 101.1% (Cost $98,071,887)				79,656,931
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.1)%				(895,967	)
NET ASSETS — 100.0%			$	78,760,964

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 1.0% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(e) Investment of cash collateral for securities loaned

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

57

SPDR S&P Emerging Europe ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.8%
CYPRUS — 0.2%
Globaltrans Investment PLC GDR (a) (b)		421	$	1,915
Globaltrans Investment PLC GDR (a) (b)		10,420		47,411
				49,326
CZECH REPUBLIC — 2.4%
CEZ A/S		26,231		468,515
Komercni banka A/S		1,983		394,602
				863,117
GREECE — 4.4%
Aegean Airlines SA		4,177		30,991
Alpha Bank AE (a)		11,589		31,347
Athens Water Supply & Sewage Co. SA		3,888		21,118
Costamare, Inc.		2,879		29,999
Diana Shipping, Inc. (a)		3,214		13,981
DryShips, Inc. (a)		35,775		6,221
Ellaktor SA (a)		15,582		24,544
Eurobank Ergasias SA (a)		6,961		7,864
FF Group (a)		4,192		78,780
Fourlis Holdings SA (a)		5,766		18,791
GEK Terna Holding Real Estate Construction SA (a)		10,994		18,153
Grivalia Properties REIC AE		5,200		41,631
Hellenic Exchanges — Athens Stock Exchange SA		9,004		51,840
Hellenic Petroleum SA (a)		7,421		32,568
Hellenic Telecommunications Organization SA		30,909		310,246
Intralot SA-Integrated Lottery Systems & Services (a)		17,290		21,975
JUMBO SA (a)		13,817		145,591
LAMDA Development SA (a)		3,632		15,940
Marfin Investment Group Holdings SA (a)		74,176		5,721
Metka SA		3,521		27,463
Motor Oil Hellas Corinth Refineries SA		7,599		82,135
Mytilineos Holdings SA (a)		10,484		41,797
National Bank of Greece SA (a)		14,244		5,307
OPAP SA		26,068		229,373
Piraeus Bank SA (a)		2,233		674
Piraeus Port Authority SA		998		15,048
Public Power Corp. SA		14,773		62,266
Safe Bulkers, Inc.		2,573		2,084
Terna Energy SA (a)		7,534		20,133
Titan Cement Co. SA		6,782		129,738
Tsakos Energy Navigation, Ltd.		8,741		69,229
				1,592,548
HUNGARY — 3.6%
Magyar Telekom Telecommunications PLC (a)		89,722		125,222
MOL Hungarian Oil & Gas PLC		7,694		377,029
OTP Bank PLC		23,701		488,848
Richter Gedeon Nyrt		16,897		319,352
				1,310,451
LUXEMBOURG — 0.0% (c)
O’Key Group SA GDR (b)		4,853		9,706
O’Key Group SA GDR (b)		192		384
				10,090
MONACO — 0.1%
GasLog, Ltd. (d)		4,627		38,404
Navios Maritime Holdings, Inc. (d)		5,730		10,028
				48,432
NETHERLANDS — 0.3%
VimpelCom, Ltd. ADR		28,766		94,352
POLAND — 18.4%
Alior Bank SA (a)		5,672		95,516
AmRest Holdings SE (a)		731		34,838
Asseco Poland SA		15,062		216,645
Bank Handlowy w Warszawie SA		4,064		73,995
Bank Millennium SA (a)		73,870		104,007
Bank Pekao SA		18,589		675,501
Bank Zachodni WBK SA (a)		3,806		273,719
Budimex SA		1,274		62,588
CCC SA		2,738		96,064
Ciech SA (a)		3,205		69,798
Cyfrowy Polsat SA (a)		20,819		110,080
Echo Investment SA (a)		77,458		135,342
Enea SA		15,647		44,774
Energa SA		24,726		79,144
Eurocash SA		9,448		116,038
Getin Holding SA (a)		54,960		16,980
Getin Noble Bank SA (a)		166,902		25,359
Globe Trade Centre SA (a)		48,590		87,977
Grupa Azoty SA (a)		3,249		81,864
Grupa Kety SA		393		31,150
Grupa Lotos SA (a)		10,645		72,783
ING Bank Slaski SA		3,382		100,331
Jastrzebska Spolka Weglowa SA (a)		2,361		6,367
KGHM Polska Miedz SA		19,616		315,380
KRUK SA		1,853		81,648
LPP SA		102		143,485
Lubelski Wegiel Bogdanka SA		1,700		14,297
mBank SA (a)		2,183		173,581
Netia SA		148,947		203,678
Orange Polska SA		110,832		184,114
PGE Polska Grupa Energetyczna SA		95,640		309,762
Polski Koncern Naftowy Orlen SA		40,586		697,340
Polskie Gornictwo Naftowe i Gazownictwo SA		229,658		298,926
Powszechna Kasa Oszczednosci Bank Polski SA (a)		116,201		804,207
Powszechny Zaklad Ubezpieczen SA		69,803		601,349
Synthos SA		75,984		73,310
Tauron Polska Energia SA		210,079		153,212
				6,665,149
RUSSIA — 49.6%
AK Transneft OAO Preference Shares (a)		211		561,627
Alrosa PAO (a)		309,208		237,299
Bashneft PAO (a)		2,844		77,296
Bashneft PAO Preference Shares (a)		4,093		96,111
CTC Media, Inc.		8,373		15,490
E.ON Russia JSC (a)		876,358		38,229
Etalon Group, Ltd. GDR		13,102		23,453
Evraz PLC (a)		61,369		66,256
Gazprom Neft PAO ADR (b)		3		32
Gazprom Neft PAO ADR (b)		5,525		58,620
Gazprom PAO ADR		769,118		2,839,968
Lenta, Ltd. GDR (a)		15,456		104,328

58

SPDR S&P Emerging Europe ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
LSR Group PJSC GDR (b)		1,053	$	2,106
LSR Group PJSC GDR (b)		26,026		52,052
Lukoil PJSC ADR		56,498		1,819,236
Magnit PJSC GDR		28,879		1,161,513
Mail.Ru Group, Ltd. GDR (a)		13,399		302,148
Mechel ADR (a)		19,544		15,983
MegaFon PJSC GDR		13,288		154,805
MMC Norilsk Nickel PJSC ADR		81,551		1,032,843
Mobile TeleSystems PJSC ADR		70,473		435,523
Mobile TeleSystems PJSC (a)		12,363		35,666
Moscow Exchange MICEX-RTS PJSC		166,277		208,453
Novatek OAO GDR (b)		769		63,173
Novatek OAO GDR (b)		9,986		820,350
Novolipetsk Steel OJSC GDR		11,958		101,763
PhosAgro OAO GDR		12,024		154,508
PIK Group PJSC GDR (b)		1,000		2,905
PIK Group PJSC GDR (b)		47,454		137,854
Polymetal International PLC		30,008		258,517
QIWI PLC ADR (d)		3,886		69,754
Rosneft OAO GDR		155,354		540,011
Rostelecom PJSC ADR (b)		24,571		181,506
Rostelecom PJSC ADR (b)		4		30
RusHydro PJSC ADR		133,160		123,935
Sberbank of Russia PJSC		1,325,113		1,842,113
Sberbank of Russia PJSC Preference Shares		97,917		102,321
Sberbank of Russia PJSC ADR		23,471		138,010
Severstal PAO GDR		29,251		244,685
Sistema JSFC GDR		24,380		143,842
Surgutneftegas OAO ADR		144,249		665,421
Surgutneftegas OAO Preference Share (a)		1,062,302		643,258
Tatneft PAO ADR (b)		28,571		755,417
Tatneft PAO ADR (b)		1,367		36,020
TCS Group Holding PLC GDR		10,375		31,644
TMK PAO GDR (b)		5,874		18,797
TMK PAO GDR (b)		237		758
United Co. RUSAL PLC		146,819		44,897
Urakali PJSC (a)		53,835		130,395
VTB Bank PJSC GDR		319,269		673,338
X5 Retail Group NV GDR (a)		13,802		261,548
Yandex NV Class A (a)		27,970		439,688
				17,965,495
TURKEY — 20.3%
Akbank TAS		225,215		516,964
Anadolu Anonim Turk Sigorta Sirketi		194,128		105,748
Anadolu Efes Biracilik Ve Malt Sanayii A/S		32,105		207,775
Arcelik A/S		64,598		309,174
BIM Birlesik Magazalar A/S		25,691		451,970
Coca-Cola Icecek A/S		6,414		81,613
Dogan Sirketler Grubu Holding A/S (a)		251,513		49,116
Dogus Otomotiv Servis ve Ticaret A/S		27,654		104,407
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		269,417		239,986
Enka Insaat ve Sanayi A/S		151,114		234,008
Eregli Demir ve Celik Fabrikalari TAS		262,677		273,580
Ford Otomotiv Sanayi A/S		5,441		56,445
Haci Omer Sabanci Holding A/S		149,310		423,553
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D		106,815		39,888
KOC Holding A/S		148,086		554,527
Kombassan Holdings A/S (a)		15,108		10,611
Koza Altin Isletmeleri A/S		3,724		15,667
Petkim Petrokimya Holding A/S (a)		23,335		36,695
TAV Havalimanlari Holding A/S		14,630		91,173
Tekfen Holding A/S		7,782		10,771
Tofas Turk Otomobil Fabrikasi A/S		15,538		100,877
Tupras Turkiye Petrol Rafinerileri A/S (a)		20,621		491,708
Turk Hava Yollari AO (a)		146,329		370,478
Turk Telekomunikasyon A/S		39,134		73,204
Turkcell Iletisim Hizmetleri A/S		117,325		397,937
Turkiye Garanti Bankasi A/S		336,151		819,979
Turkiye Halk Bankasi A/S		75,438		268,531
Turkiye Is Bankasi		191,463		301,739
Turkiye Sinai Kalkinma Bankasi A/S		97,136		50,584
Turkiye Sise ve Cam Fabrikalari A/S		83,201		90,930
Turkiye Vakiflar Bankasi TAO Class D		93,882		123,188
Ulker Biskuvi Sanayi A/S		21,545		129,911
Vestel Elektronik Sanayi ve Ticaret A/S (a)		29,863		52,281
Yapi ve Kredi Bankasi A/S		185,969		209,616
Yazicilar Holding A/S Class A		12,676		55,371
				7,350,005
UNITED STATES — 0.5%
Luxoft Holding, Inc. (a) (d)		2,412		186,038
TOTAL COMMON STOCKS (Cost $78,775,628)				36,135,003
SHORT-TERM INVESTMENT — 0.7%
UNITED STATES — 0.7%
State Street Navigator Securities Lending Prime Portfolio (e) (f) (Cost $235,544)		235,544		235,544
TOTAL INVESTMENTS — 100.5% (Cost $79,011,172)				36,370,547
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)%				(171,415	)
NET ASSETS — 100.0%			$	36,199,132

(a) Non-income producing security

(b) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(c) Amount shown represents less than 0.05% of net assets.

(d) All or a portion of the shares of the security are on loan at December 31, 2015.

(e) Investment of cash collateral for securities loaned

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

REIC = Real Estate Investment Company

59

SPDR S&P Emerging Latin America ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
BRAZIL — 42.3%
AES Tiete SA Preference Shares		14,540	$	53,143
Alpargatas SA Preference Shares		2,500		4,499
Ambev SA ADR		215,469		960,992
B2W Cia Digital (a)		7,347		28,283
Banco Bradesco SA ADR		144,079		693,020
Banco Bradesco SA		11,546		59,828
Banco do Brasil SA ADR		19,566		72,003
Banco do Brasil SA		34,407		128,192
Banco Santander Brasil SA ADR (b)		21,900		85,191
BB Seguridade Participacoes SA		32,604		200,507
BM&FBovespa SA		86,795		238,912
BR Malls Participacoes SA		18,806		52,764
BR Properties SA		9,944		21,164
Bradespar SA Preference Shares		20,229		25,515
Braskem SA ADR (b)		5,148		69,704
BRF SA ADR		22,793		314,999
BRF SA		12,127		169,816
BTG Pactual Group		10,823		41,035
CCR SA		50,521		160,263
Centrais Eletricas Brasileiras SA ADR (a)		20,194		27,464
Centrais Eletricas Brasileiras SA (a)		2,775		4,040
CETIP SA — Mercados Organizados		11,837		112,199
Cia Brasileira de Distribuicao ADR (b)		8,788		92,450
Cia de Saneamento Basico do Estado de Sao Paulo		25,940		124,119
Cia Energetica de Minas Gerais ADR		50,137		75,206
Cia Energetica de Sao Paulo Class B, Preference Shares		17,859		60,489
Cia Hering		7,210		27,719
Cia Paranaense de Energia Preference Shares		9,772		60,021
Cia Siderurgica Nacional SA ADR (b)		40,652		39,672
Cielo SA		37,764		320,630
Cosan Logistica SA		11,577		3,102
Cosan SA Industria e Comercio		11,577		73,742
Cosan, Ltd.		8,184		29,643
CPFL Energia SA ADR (a) (b)		13,782		102,262
Cyrela Brazil Realty SA Empreendimentos e Participacoes		24,259		45,989
Duratex SA		47,589		70,970
EDP — Energias do Brasil SA		3,600		10,956
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA Preference Shares (a)		3,200		6,794
Embraer SA		34,573		263,825
Equatorial Energia SA		5,700		49,332
Estacio Participacoes SA		15,134		53,363
Fibria Celulose SA ADR		12,706		161,239
Fleury SA		2,700		10,919
Gafisa SA (a)		17,074		10,487
Gerdau SA Preference Shares		6,503		7,643
Gerdau SA ADR (b)		33,429		40,115
Gol Linhas Aereas Inteligentes SA Preference Shares (a)		11,082		7,059
GP Investments, Ltd. (a)		6,036		11,748
Hypermarcas SA (a)		17,628		96,734
Itau Unibanco Holding SA ADR		165,662		1,078,460
Itausa — Investimentos Itau SA Preference Shares		172,662		300,263
Itausa — Investimentos Itau SA		45,164		80,253
JBS SA		44,499		138,910
Kepler Weber SA		4,186		17,141
Klabin SA		29,915		177,316
Kroton Educacional SA		64,846		156,204
Linx SA		2,530		28,330
Localiza Rent a Car SA		7,332		45,998
Lojas Americanas SA Preference Shares		31,925		156,548
Lojas Renner SA		42,100		181,968
M Dias Branco SA		1,062		17,851
Marfrig Global Foods SA (a)		8,600		13,803
Metalurgica Gerdau SA Preference Shares		41,118		17,253
Minerva SA (a)		2,995		10,069
MRV Engenharia e Participacoes SA		6,129		13,447
Multiplan Empreendimentos Imobiliarios SA		4,476		42,992
Multiplus SA		1,200		11,326
Natura Cosmeticos SA		12,038		71,475
Odontoprev SA		5,900		14,093
Oi SA ADR (a) (b)		5,023		3,064
Oi SA (a)		28		17
Ouro Fino Saude Animal Participacoes SA		1,222		10,808
PDG Realty SA Empreendimentos e Participacoes (a)		1,270		523
Petroleo Brasileiro SA ADR (a) (c)		106,778		363,045
Petroleo Brasileiro SA ADR (a) (b) (c)		63,021		270,990
Porto Seguro SA		4,500		32,747
Prumo Logistica SA (a)		5,374		12,903
Qualicorp SA		7,970		28,465
Raia Drogasil SA		7,100		63,673
Rumo Logistica Operadora Multimodal SA (a)		10,126		15,971
Sao Martinho SA		1,100		12,732
Smiles SA		1,508		13,265
Somos Educacao SA		9,383		32,374
Sul America SA		6,500		30,576
Suzano Papel e Celulose SA Class A, Preference Shares		23,500		111,018
Telefonica Brasil SA Preference Shares		23,415		211,586
Tim Participacoes SA ADR		8,029		68,086
Tim Participacoes SA		12,342		21,401
TOTVS SA		7,520		58,982
Tractebel Energia SA ADR (b)		9,806		81,881
Transmissora Alianca de Energia Eletrica SA		5,800		24,556
Ultrapar Participacoes SA ADR		23,836		363,499
Usinas Siderurgicas de Minas Gerais SA ADR		24,185		8,948
Usinas Siderurgicas de Minas Gerais SA Class A, Preference Shares		10,028		3,929
Vale SA ADR (b) (c)		56,034		184,352
Vale SA ADR (c)		118,217		301,453
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA		1,200		12,891
WEG SA		29,348		110,901
				10,408,097
CHILE — 11.4%
Aguas Andinas SA Class A		24,356		12,497
AntarChile SA		13,015		121,224

60

SPDR S&P Emerging Latin America ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Banco de Chile ADR		3,069	$	182,329
Banco de Credito e Inversiones		5,026		189,592
Banco Santander Chile ADR		3,595		63,416
Banmedica SA		13,988		20,155
Bupa Chile SA		65,094		52,109
CAP SA		7,672		18,554
Cencosud SA		85,334		170,403
Cia Cervecerias Unidas SA		6,000		66,384
Coca-Cola Embonor SA Class B, Preference Shares		5,680		8,176
Colbun SA		82,815		19,775
E.CL SA		3,391		4,646
Embotelladora Andina SA Class B, Preference Shares		15,423		45,877
Empresa Nacional de Electricidad SA ADR		8,413		311,786
Empresa Nacional de Telecomunicaciones SA		746		6,676
Empresas AquaChile SA (a)		22,933		5,825
Empresas CMPC SA		98,171		211,817
Empresas COPEC SA		35,990		308,967
Enersis SA ADR		25,399		308,598
Gasco SA		2,593		18,846
Grupo Security SA		62,301		16,767
Inversiones Aguas Metropolitanas SA		6,122		8,634
Latam Airlines Group SA ADR (a) (b)		20,448		110,215
SACI Falabella		62,168		396,205
Sigdo Koppers SA		8,523		10,103
Sociedad Matriz SAAM SA		80,937		5,123
Sociedad Quimica y Minera de Chile SA ADR		3,851		73,207
SONDA SA		18,679		33,101
Vina Concha y Toro SA		7,381		11,057
				2,812,064
COLOMBIA — 5.6%
Almacenes Exito SA		11,845		50,372
Banco Davivienda SA Preference Shares		6,813		46,786
Banco de Bogota SA		4,090		76,659
Bancolombia SA ADR (b)		6,814		182,274
Bancolombia SA		11,973		79,129
Bolsa de Valores de Colombia		1,214,855		6,506
Celsia SA ESP		12,429		10,963
Cementos Argos SA		15,567		47,665
Cemex Latam Holdings SA (a)		6,408		20,791
Corp. Financiera Colombiana SA (a) (c)		43		478
Corp. Financiera Colombiana SA (c)		4,734		57,980
Ecopetrol SA ADR (b)		10,892		76,353
Empresa de Energia de Bogota SA ESP		103,073		55,847
Empresa de Telecomunicaciones de Bogota		58,718		9,600
Grupo Argos SA Preference Shares		5,293		25,477
Grupo Argos SA		17,450		89,050
Grupo Aval Acciones y Valores SA		243,693		83,675
Grupo Aval Acciones y Valores SA Preference Shares		254,289		87,313
Grupo de Inversiones Suramericana SA Preference Shares		4,083		44,759
Grupo de Inversiones Suramericana SA		12,710		142,935
Grupo Nutresa SA		14,297		101,874
Grupo Odinsa SA (a)		876		2,346
Interconexion Electrica SA ESP		18,147		42,188
Isagen SA ESP		39,773		42,598
Organizacion Terpel SA		1,985		5,290
				1,388,908
LUXEMBOURG — 0.1%
Ternium SA ADR		1,078		13,399
MEXICO — 36.7%
Alfa SAB de CV Class A		200,034		394,945
Alsea SAB de CV		14,600		50,594
America Movil SAB de CV Series L		1,589,556		1,115,468
Arca Continental SAB de CV		15,726		95,315
Asesor de Activos Prisma SAPI de CV (a)		20,800		16,752
Axtel SAB de CV (a) (b)		49,500		24,935
Banregio Grupo Financiero SAB de CV		2,029		10,378
Bolsa Mexicana de Valores SAB de CV		6,532		8,646
Cemex SAB de CV (a)		676,141		369,171
Coca-Cola Femsa SAB de CV Series L		23,924		171,626
Concentradora Fibra Danhos SA de CV REIT		38,405		79,162
Concentradora Fibra Hotelera Mexicana SA de CV		20,400		18,521
Concentradora Hipotecaria SAPI de CV REIT		25,700		37,320
Consorcio ARA SAB de CV		12,900		4,467
Controladora Comercial Mexicana SAB de CV		9,743		26,689
Controladora Vuela Cia de Aviacion SAB de CV Class A (a) (b)		26,500		45,340
Corp. Actinver SAB de CV (a)		25,100		21,799
Corp. Inmobiliaria Vesta SAB de CV (b)		12,600		19,150
Desarrolladora Homex SAB de CV (a)		2,875		717
El Puerto de Liverpool SAB de CV Series C1		14,737		179,281
Empresas ICA SAB de CV (a) (b)		40,562		8,337
Fibra Shop Portafolios Inmobiliarios SAPI de CV REIT		17,400		17,520
Fibra Uno Administracion SA de CV		99,312		218,449
Fomento Economico Mexicano SAB de CV		107,753		1,008,394
Genomma Lab Internacional SAB de CV Class B (a) (b)		29,424		23,596
Gentera SAB de CV (b)		35,512		68,572
Gruma SAB de CV Class B		12,683		177,528
Grupo Aeromexico SAB de CV (a) (b)		19,300		43,905
Grupo Aeroportuario del Centro Norte SAB de CV (a)		6,500		31,467
Grupo Aeroportuario del Pacifico SAB de CV Class B		11,975		105,424
Grupo Aeroportuario del Sureste SAB de CV Class B		17,887		252,587
Grupo Bimbo SAB de CV Series A (a)		56,386		150,015
Grupo Carso SAB de CV Series A1		30,869		126,864
Grupo Comercial Chedraui SA de CV		3,700		9,842
Grupo Elektra SAB de CV (b)		3,629		79,644
Grupo Financiero Banorte SAB de CV Series O		132,981		731,385
Grupo Financiero Inbursa SAB de CV Series O (b)		170,889		307,718
Grupo Financiero Santander Mexico SAB de CV Class B (b)		71,769		125,702
Grupo GICSA SA de CV (a)		44,500		41,663

61

SPDR S&P Emerging Latin America ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Grupo Herdez SAB de CV		8,600	$	22,293
Grupo Industrial Maseca SAB de CV Class B		7,400		10,103
Grupo Industrial Saltillo SAB de CV		10,700		19,806
Grupo Lala SAB de CV (b)		12,600		29,233
Grupo Lamosa SAB de CV		9,200		20,082
Grupo Mexico SAB de CV Series B		182,847		389,490
Grupo Rotoplas SAB de CV (a)		2,800		4,786
Grupo Televisa SAB ADR		833		22,666
Grupo Televisa SAB Series CPO		104,006		568,111
Hoteles City Express SAB de CV (a)		15,300		20,410
Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (a)		50,522		79,712
Industrias Bachoco SAB de CV Series B (b)		2,800		11,371
Industrias Penoles SAB de CV		6,393		65,599
Infraestructura Energetica Nova SAB de CV (b)		3,800		15,916
Kimberly-Clark de Mexico SAB de CV Class A		99,821		233,324
Medica Sur SAB de CV Series B		7,500		18,890
Megacable Holdings SAB de CV		10,463		38,887
Mexichem SAB de CV		44,333		98,825
Mexico Real Estate Management SA de CV (a)		17,300		21,887
Minera Frisco SAB de CV (a) (b)		36,725		17,436
Nemak SAB de CV (b) (d)		89,900		121,542
OHL Mexico SAB de CV (a) (b)		23,754		24,811
PLA Administradora Industrial S de RL de CV (a)		17,600		28,523
Prologis Property Mexico SA de CV (a)		3,100		4,688
Promotora y Operadora de Infraestructura SAB de CV (a)		13,170		154,590
TV Azteca SAB de CV		190,594		26,595
Unifin Financiera SAPI de CV SOFOM ENR (a)		4,500		13,877
Urbi Desarrollos Urbanos SAB de CV (a) (b)		86,307		—
Vitro SAB de CV Series A		2,800		8,699
Wal-Mart de Mexico SAB de CV		284,785		717,109
				9,028,149
PERU — 3.6%
Alicorp SAA (a)		25,766		43,806
Cementos Pacasmayo SAA		4,030		5,907
Cia de Minas Buenaventura SAA ADR		11,967		51,219
Cia Minera Milpo SAA		69,281		32,493
Credicorp, Ltd.		3,122		303,833
Empresa de Distribucion Electrica de Lima Norte SAA		9,232		13,396
Enersur SA		8,613		20,450
Ferreycorp SAA		33,776		13,366
Grana y Montero SAA		7,037		4,064
InRetail Peru Corp. (a) (d)		2,942		41,188
Intercorp Financial Services, Inc.		1,446		32,896
Luz del Sur SAA		8,502		22,804
Minsur SA		103,547		15,176
Southern Copper Corp.		10,707		279,667
Volcan Cia Minera SAA Class B		222,875		12,413
				892,678
TOTAL COMMON STOCKS (Cost $56,898,315)				24,543,295
RIGHTS — 0.0% (e)
BRAZIL — 0.0% (e)
Banco Bradesco SA (expiring 2/5/16) (a)		378		124
Rumo Logistica Operadora Multimodal SA (expiring 2/1/16) (a)		3,638		138
TOTAL RIGHTS (Cost $0)				262
SHORT-TERM INVESTMENT — 4.4%
UNITED STATES — 4.4%
State Street Navigator Securities Lending Prime Portfolio (f) (g) (Cost $1,074,287)		1,074,287		1,074,287
TOTAL INVESTMENTS — 104.1% (Cost $57,972,602)				25,617,844
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.1)%				(1,010,610	)
NET ASSETS — 100.0%			$	24,607,234

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.7% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) Amount shown represents less than 0.05% of net assets.

(f) Investment of cash collateral for securities loaned

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

REIT = Real Estate Investment Trust

62

SPDR S&P Emerging Middle East & Africa ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.9%
EGYPT — 4.5%
Arab Cotton Ginning (a)		24,607	$	9,177
Commercial International Bank Egypt SAE		127,710		621,257
Eastern Tobacco		2,451		54,779
Egypt Kuwait Holding Co. SAE		100,146		52,076
Egyptian Financial Group-Hermes Holding Co. (a)		58,135		65,411
ElSewedy Electric Co.		13,130		61,524
Ezz Steel (a)		34,769		39,698
Global Telecom Holding SAE GDR (a)		48,683		63,288
Juhayna Food Industries		66,518		67,792
Maridive & Oil Services SAE (a)		29,309		8,793
Palm Hills Developments SAE (a)		106,577		34,164
Sidi Kerir Petrochemicals Co.		38,606		56,010
Six of October Development & Investment (a)		40,557		49,051
Talaat Moustafa Group		143,006		118,166
Telecom Egypt Co.		62,962		51,624
				1,352,810
NETHERLANDS — 4.6%
Steinhoff International Holdings NV (b)		269,897		1,367,469
QATAR — 10.0%
Aamal Co.		14,326		55,026
Al Khalij Commercial Bank QSC		8,397		41,428
Al Meera Consumer Goods Co. QSC		648		39,140
Barwa Real Estate Co.		9,085		99,772
Commercial Bank QSC		11,085		139,692
Doha Bank QSC		8,697		106,256
Gulf International Services QSC		4,339		61,351
Industries Qatar QSC		6,215		189,574
Mannai Corp. QSC		321		8,399
Masraf Al Rayan QSC		31,195		322,031
Medicare Group		656		21,487
Ooredoo QSC		11,365		234,021
Qatar Electricity & Water Co. QSC		2,569		152,632
Qatar Gas Transport Co., Ltd.		12,934		82,917
Qatar Insurance Co. SAQ		7,249		163,199
Qatar International Islamic Bank QSC		3,534		62,388
Qatar Islamic Bank SAQ		5,516		161,590
Qatar National Bank SAQ		14,861		714,020
Qatar National Cement Co. QSC		1,260		35,285
Qatar Navigation QSC		2,674		69,744
Qatari Investors Group QSC		2,899		30,006
Salam International Investment, Ltd. QSC		5,973		19,384
United Development Co. QSC		8,267		47,097
Vodafone Qatar QSC		43,422		151,404
				3,007,843
SOUTH AFRICA — 68.8%
Adcock Ingram Holdings, Ltd.		13,923		44,908
Adcorp Holdings, Ltd.		6,915		8,760
Advtech, Ltd.		25,665		24,116
AECI, Ltd.		11,576		66,234
African Bank Investments, Ltd. (a)		258,160		—
African Oxygen, Ltd.		12,717		10,669
African Rainbow Minerals, Ltd.		11,753		32,956
Alexander Forbes Group Holdings, Ltd.		37,949		14,523
Allied Electronics Corp., Ltd.		26,157		9,284
Anglo American Platinum, Ltd. (a) (b)		6,030		72,124
AngloGold Ashanti, Ltd. (a)		37,548		257,484
Aquarius Platinum, Ltd. (a)		135,683		22,498
ArcelorMittal South Africa, Ltd. (a) (b)		16,276		4,727
Arrowhead Properties, Ltd. Class A		58,623		31,930
Ascendis Health, Ltd.		24,704		32,427
Aspen Pharmacare Holdings, Ltd. (a)		24,805		495,412
Assore, Ltd.		5,630		22,563
Astral Foods, Ltd.		5,160		38,628
Attacq, Ltd. (a)		62,975		74,129
Aveng, Ltd. (a) (b)		47,643		6,949
AVI, Ltd.		24,357		121,632
Barclays Africa Group, Ltd.		27,339		253,162
Barloworld, Ltd.		17,913		71,638
Bidvest Group, Ltd.		23,999		508,323
Blue Label Telecoms, Ltd.		30,827		24,171
Brait SE (a) (b)		25,794		277,890
Capevin Holdings, Ltd.		17,994		11,206
Capitec Bank Holdings, Ltd.		5,061		175,900
Cashbuild, Ltd.		1,688		32,680
Caxton and CTP Publishers and Printers, Ltd.		9,544		10,255
City Lodge Hotels, Ltd.		3,163		30,619
Clicks Group, Ltd.		19,538		112,219
Clover Industries, Ltd.		12,902		14,155
Consolidated Infrastructure Group, Ltd. (a)		3,484		7,161
Coronation Fund Managers, Ltd. (b)		26,135		89,222
Curro Holdings, Ltd. (a)		10,905		40,670
DataTec, Ltd. (b)		17,445		57,979
Delta Property Fund, Ltd. REIT		27,307		12,071
Discovery, Ltd.		33,858		290,499
Distell Group, Ltd.		1,988		21,167
Emira Property Fund, Ltd.		27,271		28,528
EOH Holdings, Ltd.		8,306		72,364
Exxaro Resources, Ltd. (b)		12,707		36,115
Famous Brands, Ltd.		5,281		44,305
FirstRand, Ltd.		277,822		759,660
Foschini Group, Ltd.		15,350		120,636
Gold Fields, Ltd.		66,200		180,287
Grindrod, Ltd.		60,119		43,803
Group Five, Ltd.		13,117		16,913
Growthpoint Properties, Ltd. REIT		192,144		288,052
Harmony Gold Mining Co., Ltd. (a) (b)		45,462		45,769
Hosken Consolidated Investments, Ltd.		5,556		41,413
Hudaco Industries, Ltd.		2,977		18,242
Hyprop Investments, Ltd.		16,636		110,957
Illovo Sugar, Ltd.		24,104		26,289
Impala Platinum Holdings, Ltd. (a) (b)		51,364		83,002
Imperial Holdings, Ltd.		18,510		142,580
Investec, Ltd.		21,044		148,709
Italtile, Ltd.		5,539		4,218
JSE, Ltd.		9,354		77,268
KAP Industrial Holdings, Ltd.		62,351		27,764
Kumba Iron Ore, Ltd. (b)		5,414		14,395
Lewis Group, Ltd. (b)		10,618		37,633
Liberty Holdings, Ltd.		8,536		63,449
Life Healthcare Group Holdings, Ltd.		85,661		193,871
Massmart Holdings, Ltd. (b)		11,271		72,737
Mediclinic International, Ltd.		31,570		242,447
Merafe Resources, Ltd.		197,482		8,666
MMI Holdings, Ltd.		76,232		108,232

63

SPDR S&P Emerging Middle East & Africa ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Mondi, Ltd.		10,497	$	208,152
Mpact, Ltd.		16,512		50,019
Mr Price Group, Ltd.		21,815		281,566
MTN Group, Ltd.		130,364		1,118,007
Murray & Roberts Holdings, Ltd.		50,759		26,206
Nampak, Ltd.		48,200		77,298
Naspers, Ltd. Class N		35,345		4,835,688
Nedbank Group, Ltd.		16,203		197,222
Netcare, Ltd.		133,497		292,056
Northam Platinum, Ltd. (a)		35,622		60,667
Oceana Group, Ltd.		3,816		28,813
Octodec Investments, Ltd.		8,644		12,685
Omnia Holdings, Ltd.		5,958		51,188
Pick n Pay Holdings, Ltd.		28,694		51,849
Pick n Pay Stores, Ltd.		15,702		65,866
Pioneer Foods Group, Ltd.		10,918		112,030
PPC, Ltd.		46,315		46,030
PSG Group, Ltd.		6,369		91,864
Rand Merchant Insurance Holdings, Ltd.		66,633		166,459
Raubex Group, Ltd.		16,231		17,650
Redefine Properties, Ltd.		374,184		234,235
Remgro, Ltd.		38,009		601,477
Resilient REIT, Ltd.		29,654		221,034
Reunert, Ltd.		13,718		60,448
Rhodes Food Group Pty, Ltd. (a)		5,795		8,751
RMB Holdings, Ltd.		67,023		240,531
SA Corporate Real Estate Fund Nominees Pty, Ltd.		133,415		39,606
Sanlam, Ltd.		134,317		524,769
Santam, Ltd.		1,190		14,553
Sappi, Ltd. (a)		43,345		182,549
Sasol, Ltd.		43,134		1,167,461
Shoprite Holdings, Ltd.		32,094		296,718
Sibanye Gold, Ltd.		67,040		98,859
SPAR Group, Ltd.		13,381		158,978
Spur Corp., Ltd.		3,316		7,184
Standard Bank Group, Ltd.		101,754		745,318
Sun International, Ltd.		9,914		59,597
Super Group, Ltd. (a)		14,308		35,032
Telkom SA SOC, Ltd.		26,051		108,151
Tiger Brands, Ltd. (b)		15,480		316,123
Tongaat Hulett, Ltd.		10,627		63,835
Trencor, Ltd.		11,458		32,905
Truworths International, Ltd. (b)		33,432		196,659
Tsogo Sun Holdings, Ltd.		35,928		56,110
Vodacom Group, Ltd.		42,961		422,554
Vukile Property Fund, Ltd. REIT		22,720		24,779
Wilson Bayly Holmes-Ovcon, Ltd.		4,003		29,259
Woolworths Holdings, Ltd.		69,481		449,067
Zeder Investments, Ltd.		45,955		17,883
				20,696,984
UNITED ARAB EMIRATES — 12.0%
Abu Dhabi Commercial Bank PJSC		155,765		279,470
Agthia Group PJSC		14,425		30,122
Air Arabia PJSC		213,547		79,070
Ajman Bank PJSC (a)		24,457		13,783
Al Waha Capital PJSC		88,980		52,327
Aldar Properties PJSC		293,708		185,517
Arabtec Holding PJSC (a)		211,184		71,870
Bank of Sharjah		24,546		10,292
DAMAC Properties Dubai Co. PJSC		141,332		89,270
Dana Gas PJSC (a)		318,533		44,229
Deyaar Development PJSC (a)		134,771		18,860
DP World, Ltd.		15,502		314,691
Dubai Financial Market PJSC		149,419		50,037
Dubai Investments PJSC		132,361		72,793
Dubai Islamic Bank PJSC		92,307		155,311
Dubai Parks & Resorts PJSC (a)		175,202		53,901
Emaar Malls Group PJSC (a)		176,207		132,407
Emaar Properties PJSC		327,628		507,542
Emirates REIT CEIC, Ltd.		7,019		8,837
Emirates Telecommunications Group Co. PJSC		113,000		495,317
Eshraq Properties Co. PJSC (a)		106,292		15,916
First Gulf Bank PJSC		105,061		361,836
Gulf Pharmaceutical Industries		17,596		11,977
National Bank of Abu Dhabi PJSC		121,630		263,592
National Bank of Ras Al-Khaimah PSC		52,217		88,853
Orascom Construction, Ltd. (a)		3,062		21,434
RAK Properties PJSC		91,434		13,691
Ras Al Khaimah Ceramics		32,798		31,164
Union National Bank PJSC		102,779		130,957
Union Properties PJSC		86,581		17,491
				3,622,557
TOTAL COMMON STOCKS (Cost $45,833,088)				30,047,663
RIGHTS — 0.0% (c)
SOUTH AFRICA — 0.0% (c)
ArcelorMittal South Africa, Ltd. (expiring 1/15/16) (a) (b) (Cost $0)		26,682		17
WARRANTS — 0.0% (c)
SOUTH AFRICA — 0.0% (c)
Adcock Ingram Holdings, Ltd. (expiring 7/26/19) (a) (Cost $0)		888		241
SHORT-TERM INVESTMENTS — 3.1%
UNITED STATES — 3.1%
State Street Navigator Securities Lending Prime Portfolio (d) (e)		863,901		863,901
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f)		65,515		65,515
TOTAL SHORT-TERM INVESTMENTS (Cost $929,416)				929,416
TOTAL INVESTMENTS — 103.0% (Cost $46,762,504)				30,977,337
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.0)%				(891,346	)
NET ASSETS — 100.0%			$	30,085,991

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Amount is less than 0.05% of net assets.

(d) Investments of cash collateral for securities loaned

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

GDR = Global Depositary Receipt

REIT = Real Estate Investment Trust

64

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 5.8%
Abacus Property Group REIT		12,089	$	28,145
AGL Energy, Ltd.		31,822		418,590
Alumina, Ltd. (a)		313,055		263,066
Amcor, Ltd.		92,618		905,644
AMP, Ltd.		176,024		746,626
Ansell, Ltd.		27,731		432,365
APA Group		122,313		772,423
Aristocrat Leisure, Ltd.		105,195		781,419
Arrium, Ltd. (a) (b)		176,873		7,464
Asciano, Ltd.		46,102		293,153
Australia & New Zealand Banking Group, Ltd.		135,584		2,755,131
BHP Billiton PLC		89,081		997,853
BHP Billiton, Ltd.		149,569		1,943,506
Billabong International, Ltd. (a) (b)		27,243		48,561
BlueScope Steel, Ltd.		40,027		129,009
Brambles, Ltd.		126,236		1,062,624
BWP Trust (a)		193,076		443,893
Caltex Australia, Ltd.		12,767		350,181
carsales.com, Ltd. (a)		17,171		145,915
Commonwealth Bank of Australia		81,112		5,047,385
Computershare, Ltd.		81,199		686,467
CSL, Ltd.		27,950		2,141,481
CSR, Ltd.		113,075		237,754
Dexus Property Group REIT		22,140		120,810
DUET Group (a)		81,213		134,717
Fairfax Media, Ltd.		116,198		77,777
Fortescue Metals Group, Ltd. (a)		81,028		110,240
Goodman Group REIT		35,565		162,238
GPT Group REIT		83,404		290,053
GWA Group, Ltd. (a) (b)		103,733		149,432
Harvey Norman Holdings, Ltd. (a)		212,316		645,687
Hills, Ltd.		107,597		26,616
Iluka Resources, Ltd.		25,031		111,635
Incitec Pivot, Ltd.		79,206		228,200
Ingenia Communities Group		64,305		138,952
Insurance Australia Group, Ltd.		201,262		814,141
LendLease Group		79,100		820,652
Macquarie Group, Ltd.		22,413		1,349,695
Medibank Pvt, Ltd.		130,179		203,630
Mirvac Group REIT		85,204		122,741
National Australia Bank, Ltd.		116,019		2,549,171
Newcrest Mining, Ltd. (b)		41,172		388,512
Oil Search, Ltd.		55,292		269,526
Orica, Ltd. (a)		14,437		162,806
Origin Energy, Ltd.		139,083		475,592
Orora, Ltd.		89,136		145,915
OZ Minerals, Ltd.		22,648		66,734
Perpetual, Ltd.		14,357		487,280
QBE Insurance Group, Ltd.		63,902		585,333
Ramsay Health Care, Ltd.		6,094		301,225
REA Group, Ltd.		2,480		99,400
Recall Holdings, Ltd.		27,190		137,486
Santos, Ltd.		118,141		316,309
Scentre Group REIT		193,528		589,957
SEEK, Ltd. (a)		16,743		187,349
Sonic Healthcare, Ltd.		58,627		762,228
South32, Ltd. (b) (c)		89,081		68,931
South32, Ltd. (b) (c)		149,569		115,892
Stockland REIT (a)		45,272		135,044
Suncorp Group, Ltd.		60,814		537,137
Sydney Airport		51,331		237,146
Tatts Group, Ltd.		272,402		870,037
Telstra Corp., Ltd.		205,006		836,743
TPG Telecom, Ltd.		17,141		123,338
Transurban Group Stapled Security		63,713		485,331
Transurban Group (b)		3,333		25,389
Treasury Wine Estates, Ltd.		59,194		357,453
Vicinity Centres REIT		154,439		314,614
Wesfarmers, Ltd.		55,926		1,693,068
Westfield Corp.		95,440		660,349
Westpac Banking Corp.		158,228		3,863,386
Woodside Petroleum, Ltd.		43,419		907,250
Woolworths, Ltd. (a)		76,410		1,362,006
WorleyParsons, Ltd. (a)		23,406		78,844
				46,342,652
AUSTRIA — 0.2%
ANDRITZ AG		1,690		82,705
Erste Group Bank AG (b)		16,666		523,395
OMV AG		16,563		470,141
voestalpine AG		14,756		454,354
				1,530,595
BELGIUM — 1.3%
Aedifica SA		2,734		179,860
Ageas		21,859		1,016,304
Anheuser-Busch InBev SA		41,876		5,204,045
Bekaert SA (a)		4,632		142,826
Delhaize Group		7,992		779,531
Gimv NV		882		44,413
Groupe Bruxelles Lambert SA		3,817		326,861
KBC Groep NV		15,965		1,000,158
Proximus SADP		6,711		218,705
Solvay SA (a)		3,505		374,770
UCB SA		11,019		996,258
Umicore SA		4,766		200,181
				10,483,912
CANADA — 6.5%
AGF Management, Ltd. Class B (a)		31,352		117,364
Agnico Eagle Mines, Ltd.		10,780		282,246
Agrium, Inc. (a)		11,525		1,026,058
Alamos Gold, Inc. Class A		11,550		37,832
Alimentation Couche-Tard, Inc. Class B		19,855		870,613
Amaya, Inc. (a) (b)		8,731		109,554
ARC Resources, Ltd. (a)		17,566		211,181
Athabasca Oil Corp. (b)		16,146		17,900
Avigilon Corp. (a) (b)		3,210		31,659
B2Gold Corp. (b)		52,297		52,707
Badger Daylighting, Ltd. (a)		3,100		54,497
Bank of Montreal		28,409		1,596,843
Bank of Nova Scotia		56,381		2,271,719
Bankers Petroleum, Ltd. (b)		26,307		19,317
Barrick Gold Corp.		56,748		418,328
BCE, Inc.		12,902		496,538
BlackBerry, Ltd. (a) (b)		30,415		281,138
Bombardier, Inc. Class B (a)		113,014		109,019
Brookfield Asset Management, Inc. Class A		51,249		1,610,409
CAE, Inc.		13,585		150,119
Cameco Corp.		31,400		385,860

65

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Canadian Energy Services & Technology Corp. (a)		14,756	$	41,216
Canadian Imperial Bank of Commerce (a)		20,928		1,373,857
Canadian National Railway Co.		37,740		2,101,497
Canadian Natural Resources, Ltd.		61,465		1,337,177
Canadian Oil Sands, Ltd.		31,526		187,690
Canadian Pacific Railway, Ltd.		9,377		1,193,001
Canadian Solar, Inc. (a) (b)		2,140		61,974
Canadian Tire Corp., Ltd. Class A (a)		3,952		336,166
Canadian Western Bank (a)		20,873		351,314
CCL Industries, Inc. Class B		1,180		190,596
Cenovus Energy, Inc.		36,182		455,824
CGI Group, Inc. Class A (b)		19,993		797,360
CI Financial Corp.		11,358		250,201
Constellation Software, Inc.		953		395,772
Crescent Point Energy Corp. (a)		33,502		388,778
CT Real Estate Investment Trust		13,729		128,484
Detour Gold Corp. (b)		9,090		94,296
Dollarama, Inc.		3,231		185,938
Eldorado Gold Corp.		31,089		91,761
Element Financial Corp.		18,127		217,926
Emera, Inc.		6,885		214,267
Enbridge, Inc.		41,649		1,379,205
Encana Corp. (a)		44,416		224,782
Enerplus Corp. (a)		7,380		25,236
Exchange Income Corp.		6,740		138,332
Fairfax Financial Holdings, Ltd.		1,800		851,226
Finning International, Inc.		6,525		87,745
Firm Capital Mortgage Investment Corp. (a)		27,381		249,545
First Majestic Silver Corp. (a) (b)		12,940		42,012
First Quantum Minerals, Ltd.		41,151		153,453
Fortis, Inc.		11,742		316,225
Franco-Nevada Corp. (a)		8,020		365,464
Gildan Activewear, Inc.		10,932		309,600
Goldcorp, Inc.		44,131		507,994
Gran Tierra Energy, Inc. (b)		23,524		50,973
Great-West Lifeco, Inc.		14,279		354,945
HNZ Group, Inc.		68		534
Home Capital Group, Inc. (a)		3,202		62,053
Husky Energy, Inc.		33,067		340,646
IAMGOLD Corp. (b)		39,745		56,366
Imperial Oil, Ltd.		28,357		920,260
Innergex Renewable Energy, Inc. (a)		23,745		193,673
Intact Financial Corp.		6,635		423,578
Inter Pipeline, Ltd. (a)		15,835		253,182
K-Bro Linen, Inc.		6,525		239,327
Keyera Corp. (a)		8,076		234,065
Kinross Gold Corp. (b)		51,649		93,326
Linamar Corp.		2,350		126,424
Loblaw Cos., Ltd. (a)		10,995		517,179
Lundin Mining Corp. (b)		34,763		95,097
MacDonald Dettwiler & Associates, Ltd.		2,140		128,267
Magna International, Inc.		18,476		746,435
Manulife Financial Corp.		97,804		1,460,266
Methanex Corp. (a)		3,960		130,280
Metro, Inc.		11,575		322,810
National Bank of Canada (a)		17,617		511,224
New Gold, Inc. (b)		28,133		65,214
Onex Corp.		3,825		233,559
Open Text Corp.		5,135		245,235
Parex Resources, Inc. (b)		17,115		125,181
Pembina Pipeline Corp. (a)		14,492		314,544
Pengrowth Energy Corp.		21,605		15,864
Penn West Petroleum, Ltd. (a)		24,035		20,244
Peyto Exploration & Development Corp. (a)		6,200		111,003
Potash Corp. of Saskatchewan, Inc.		50,424		860,304
Power Corp. of Canada		17,566		365,964
Power Financial Corp. (a)		14,632		335,069
Precision Drilling Corp. (a)		14,552		57,303
Pure Industrial Real Estate Trust		39,568		124,478
Redknee Solutions, Inc. (a) (b)		22,445		47,989
Restaurant Brands International, Inc. (a)		8,159		303,958
Richelieu Hardware, Ltd.		839		40,987
Rogers Communications, Inc. Class B		26,539		911,699
Royal Bank of Canada (a)		74,818		3,993,776
Russel Metals, Inc.		31,089		359,657
Saputo, Inc.		12,365		294,638
Secure Energy Services, Inc. (a)		8,985		54,074
SEMAFO, Inc. (a) (b)		21,711		54,860
Shaw Communications, Inc. Class B (a)		38,345		656,980
Sherritt International Corp. (a)		44,662		23,471
Silver Wheaton Corp.		18,772		232,437
Sirius XM Canada Holdings, Inc. (a)		598		1,791
SNC-Lavalin Group, Inc.		9,366		277,251
Stantec, Inc. (a)		3,640		89,932
Sun Life Financial, Inc. (a)		36,354		1,129,274
Suncor Energy, Inc.		85,582		2,200,698
Teck Resources, Ltd. Class B (a)		33,394		128,374
TELUS Corp.		22,139		609,775
TMX Group, Ltd.		2,307		59,440
Toronto-Dominion Bank		92,625		3,616,716
Tourmaline Oil Corp. (b)		5,990		96,376
TransCanada Corp. (a)		41,731		1,357,587
Trinidad Drilling, Ltd.		10,702		16,333
Turquoise Hill Resources, Ltd. (b)		44,826		113,267
West Fraser Timber Co., Ltd.		1,951		73,779
Yamana Gold, Inc.		55,019		101,792
Yellow Pages, Ltd. (a) (b)		5,296		58,217
				52,236,815
CHILE — 0.0% (d)
Antofagasta PLC (a)		16,182		111,931
CHINA — 0.1%
APT Satellite Holdings, Ltd.		165,000		133,275
Bloomage BioTechnology Corp., Ltd.		24,147		59,821
China Everbright Water, Ltd. (a) (b)		114,500		49,637
China New Town Development Co., Ltd. (b)		1,870,000		73,817
Chong Hing Bank, Ltd.		1,385		2,888
ENN Energy Holdings, Ltd.		38,000		202,744
HC International, Inc. (b)		60,000		36,232
Sino Grandness Food Industry Group, Ltd. (a) (b)		235,500		60,591
				619,005
COLOMBIA — 0.0% (d)
Pacific Exploration and Production Corp. (a)		16,437		20,234

66

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
DENMARK — 1.6%
AP Moeller — Maersk A/S Class B		613	$	800,849
Carlsberg A/S Class B		2,519		224,590
Chr Hansen Holding A/S		4,550		285,923
Coloplast A/S Class B (a)		4,074		330,318
Danske Bank A/S		47,143		1,270,908
DSV A/S		8,277		327,355
FLSmidth & Co. A/S (a)		8,647		302,087
Genmab A/S (b)		2,519		336,427
GN Store Nord A/S		26,764		488,155
Jyske Bank A/S (b)		2,208		100,311
Novo Nordisk A/S Class B		92,242		5,369,527
Novozymes A/S Class B		10,298		495,578
Pandora A/S		5,776		733,161
SimCorp A/S		12,113		684,131
TDC A/S		12,300		61,573
Vestas Wind Systems A/S		12,711		895,162
				12,706,055
FINLAND — 0.9%
Amer Sports Oyj		6,338		185,688
Caverion Corp.		12,346		121,105
Elisa Oyj		7,178		271,274
Fortum Oyj		21,121		319,377
Kemira Oyj (a)		20,077		237,289
Kesko Oyj Class B		3,533		124,233
Kone Oyj Class B (a)		18,049		767,992
Konecranes Oyj (a)		3,240		80,599
Lassila & Tikanoja Oyj		1,741		34,269
Metso Oyj (a)		12,959		291,401
Neste Oyj		11,506		345,346
Nokia Oyj		186,326		1,334,867
Sampo Oyj Class A		28,666		1,463,574
Sanoma Oyj (a)		17,662		75,018
Stockmann Oyj Abp (a) (b)		18,489		125,529
Stora Enso Oyj Class R		39,210		357,362
Tikkurila Oyj		8,651		151,395
UPM-Kymmene Oyj		32,533		608,919
Valmet Oyj		12,687		122,659
Wartsila Oyj Abp		9,458		433,059
YIT Oyj (a)		18,274		103,920
				7,554,875
FRANCE — 7.7%
Accor SA		16,363		711,094
Air Liquide SA		15,415		1,735,652
Airbus Group SE		29,407		1,980,579
Albioma SA		14,623		237,480
Alcatel-Lucent (b)		151,727		601,597
Alstom SA (a) (b)		14,456		442,291
Arkema SA		2,043		143,345
Atos SE		3,829		322,149
AXA SA		94,093		2,578,840
BNP Paribas SA		48,056		2,726,575
Bollore SA (b)		103		473
Bollore SA		24,485		114,292
Bourbon SA (a)		15,974		259,421
Bouygues SA		15,205		603,621
Bureau Veritas SA		10,490		209,559
Cap Gemini SA		13,388		1,244,914
Carrefour SA		40,172		1,162,975
Casino Guichard Perrachon SA (a)		6,547		301,656
CGG SA (a) (b)		15,920		46,348
Christian Dior SE		2,715		462,304
Cie de Saint-Gobain		30,874		1,336,506
Cie Generale des Etablissements Michelin		9,116		870,448
Credit Agricole SA		56,197		664,189
Danone SA		28,669		1,939,595
Dassault Systemes		4,829		386,978
Edenred		16,629		315,218
Electricite de France SA		14,390		212,203
Engie SA		76,427		1,355,345
Essilor International SA		9,374		1,171,551
Eutelsat Communications SA		4,015		120,377
Faurecia		2,601		104,571
Gecina SA		1,737		211,522
Groupe Eurotunnel SE		19,103		237,813
Hermes International		1,263		427,720
Iliad SA		1,042		249,023
Ingenico Group SA		2,331		294,997
Kering		5,419		929,798
Klepierre		8,919		397,140
L’Oreal SA		12,263		2,068,797
Lagardere SCA		14,555		434,963
Legrand SA		12,825		727,240
LVMH Moet Hennessy Louis Vuitton SE		13,511		2,126,697
Natixis SA		21,913		124,186
Nexans SA (b)		4,579		167,629
Numericable-SFR SAS		10,178		370,388
Orange SA		97,831		1,645,650
Pernod Ricard SA		9,815		1,121,646
Peugeot SA (b)		21,454		377,665
Plastic Omnium SA		3,367		107,277
Publicis Groupe SA		14,920		994,822
Renault SA		11,982		1,205,676
Rexel SA		13,872		185,049
Safran SA		16,026		1,103,211
Sanofi		56,382		4,814,075
Schneider Electric SE (c)		26,114		1,491,003
Schneider Electric SE (c)		2,000		114,779
SCOR SE		8,574		321,424
Societe BIC SA		1,279		210,699
Societe Generale SA		38,988		1,802,953
Societe Television Francaise 1		5,556		61,864
Sodexo SA		4,744		464,528
Suez Environnement Co.		16,852		315,967
Technicolor SA		22,198		180,370
Technip SA		7,187		357,064
Teleperformance		2,714		228,487
Thales SA		4,752		356,701
TOTAL SA		121,654		5,453,283
UBISOFT Entertainment (b)		7,418		214,912
Unibail-Rodamco SE		4,572		1,164,163
Valeo SA		5,995		928,338
Vallourec SA (a)		8,969		83,790
Veolia Environnement SA		40,186		954,496
Vinci SA		22,032		1,415,419
Vivendi SA		59,144		1,275,968
Zodiac Aerospace		5,650		134,874
				62,216,212
GERMANY — 7.2%
Aareal Bank AG		2,352		74,452

67

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
adidas AG		13,637	$	1,331,915
Allianz SE		21,603		3,838,083
BASF SE		47,664		3,661,698
Bayer AG		39,092		4,917,521
Bayerische Motoren Werke AG		15,086		1,599,953
Bayerische Motoren Werke AG Preference Shares		2,570		216,113
Beiersdorf AG		4,710		430,602
Bilfinger SE (a)		6,287		296,881
Brenntag AG		7,299		382,808
Commerzbank AG (b)		43,164		448,822
Continental AG		5,179		1,263,307
Daimler AG		47,028		3,963,292
Deutsche Bank AG		61,640		1,508,264
Deutsche Boerse AG		12,762		1,128,339
Deutsche Lufthansa AG (b)		8,434		133,442
Deutsche Post AG		55,824		1,573,953
Deutsche Telekom AG		158,234		2,868,837
Deutsche Wohnen AG		15,890		442,148
DMG Mori AG		3,358		138,908
E.ON SE		95,208		923,684
Evonik Industries AG		5,726		190,430
Freenet AG		6,051		205,840
Fresenius Medical Care AG & Co. KGaA		10,173		858,989
Fresenius SE & Co. KGaA		18,684		1,338,955
Fuchs Petrolub SE Preference Shares		3,282		155,088
GEA Group AG		8,313		337,737
Hamborner REIT AG		17,742		185,292
Hannover Rueck SE		2,845		326,514
HeidelbergCement AG		6,660		547,092
Henkel AG & Co. KGaA		5,885		566,537
Henkel AG & Co. KGaA Preference Shares		9,283		1,040,682
HOCHTIEF AG		4,592		428,344
HUGO BOSS AG		3,064		254,957
Infineon Technologies AG		53,310		782,083
KS AG		9,911		254,301
Lanxess AG		4,325		200,521
LEG Immobilien AG (b)		2,756		226,035
Linde AG		8,505		1,237,100
MAN SE		4,439		447,007
Merck KGaA		9,798		953,344
METRO AG		7,665		246,131
MorphoSys AG (b)		1,028		64,379
MTU Aero Engines AG		1,797		175,883
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		6,941		1,391,509
Norma Group SE		2,316		128,687
OHB SE		4,904		111,685
OSRAM Licht AG		3,722		156,836
Porsche Automobil Holding SE Preference Shares		10,849		589,381
ProSiebenSat.1 Media SE		10,486		532,697
Puma SE (a)		1,856		400,513
Rheinmetall AG		2,016		134,640
RWE AG		25,400		323,103
Salzgitter AG (a)		4,808		118,691
SAP SE		44,689		3,562,281
Siemens AG		40,651		3,969,027
Symrise AG		5,763		383,947
Telefonica Deutschland Holding AG		23,905		127,010
ThyssenKrupp AG		24,361		485,338
TUI AG		22,459		400,869
United Internet AG		5,818		321,756
Volkswagen AG		1,814		280,409
Volkswagen AG Preference Shares		7,508		1,090,857
Vonovia SE		20,925		648,965
Wincor Nixdorf AG		1,439		72,493
Wirecard AG (a)		3,198		161,540
				57,558,497
HONG KONG — 3.0%
AIA Group, Ltd.		582,600		3,503,050
Bank of East Asia, Ltd. (a)		224,676		836,358
BOC Hong Kong Holdings, Ltd.		172,500		527,506
Cheung Kong Infrastructure Holdings, Ltd.		26,000		240,873
Cheung Kong Property Holdings, Ltd.		148,348		964,722
China Water Industry Group, Ltd. (a) (b)		812,000		170,779
CK Hutchison Holdings, Ltd.		148,348		2,002,181
CLP Holdings, Ltd.		151,500		1,287,236
Dah Sing Banking Group, Ltd.		134,125		237,440
Dah Sing Financial Holdings, Ltd.		67,285		336,419
Esprit Holdings, Ltd. (a)		167,319		184,803
Galaxy Entertainment Group, Ltd.		126,000		397,502
Hang Lung Group, Ltd.		142,000		461,720
Hang Lung Properties, Ltd.		264,000		600,886
Hang Seng Bank, Ltd.		34,800		662,310
Henderson Land Development Co., Ltd.		58,765		360,166
HKT Trust & HKT, Ltd.		125,900		160,824
Hong Kong & China Gas Co., Ltd.		334,270		655,588
Hong Kong Exchanges and Clearing, Ltd.		56,626		1,450,328
Hongkong Land Holdings, Ltd.		105,500		738,500
Hopewell Highway Infrastructure, Ltd. (a)		6,975		3,366
Hopewell Holdings, Ltd.		159,500		573,160
Hysan Development Co., Ltd.		26,841		109,959
Jardine Matheson Holdings, Ltd.		12,973		632,174
Jardine Strategic Holdings, Ltd.		4,000		109,320
Li & Fung, Ltd. (a)		422,000		286,954
Link REIT		126,351		756,461
Melco Crown Entertainment, Ltd. ADR (a)		6,887		115,702
Melco International Development, Ltd. (a)		34,000		51,065
MTR Corp., Ltd.		68,947		341,615
New World Development Co., Ltd. (a)		618,033		610,844
Noble Group, Ltd. (a)		234,500		66,119
Pacific Basin Shipping, Ltd. (a)		606,000		132,926
Power Assets Holdings, Ltd.		65,500		602,588
Sands China, Ltd.		120,400		412,459
Sino Land Co., Ltd.		358,897		526,063
SJM Holdings, Ltd. (a)		57,000		40,671
Sun Hung Kai Properties, Ltd.		91,509		1,105,171
Swire Pacific, Ltd. Class A		25,500		286,911
Techtronic Industries Co., Ltd.		63,500		258,911
Wharf Holdings, Ltd.		99,000		549,280
Wheelock & Co., Ltd.		153,000		644,562
				23,995,472

68

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
IRELAND — 1.0%
Bank of Ireland (b)		1,275,208	$	468,217
C&C Group PLC		18,637		75,171
CRH PLC		45,429		1,317,632
Experian PLC		52,257		925,029
Glanbia PLC		5,785		106,518
Green REIT PLC		183,791		318,046
Greencore Group PLC		24,518		128,034
Irish Bank Resolution Corp., Ltd. (b)		5,635		—
James Hardie Industries PLC		19,695		250,329
Kerry Group PLC Class A		7,143		592,123
Kingspan Group PLC		19,671		519,471
Paddy Power PLC		1,385		185,207
Ryanair Holdings PLC ADR		5,819		503,111
Shire PLC		32,534		2,252,779
Smurfit Kappa Group PLC		8,989		229,862
UDG Healthcare PLC		11,479		100,837
				7,972,366
ISRAEL — 0.8%
Bank Hapoalim BM		50,705		261,927
Bank Leumi Le-Israel BM (b)		66,410		230,409
Bezeq The Israeli Telecommunication Corp., Ltd.		99,773		219,749
Check Point Software Technologies, Ltd. (a) (b)		6,771		551,024
Evogene, Ltd. (b)		7,894		63,135
Israel Chemicals, Ltd.		20,651		83,909
Mazor Robotics, Ltd. (b)		7,300		36,959
NICE-Systems, Ltd.		2,930		169,051
Rami Levy Chain Stores Hashikma Marketing 2006, Ltd.		7,572		348,335
Reit 1, Ltd.		70,918		189,367
Shufersal, Ltd. (b)		109,105		338,443
Strauss Group, Ltd.		31,192		464,547
Teva Pharmaceutical Industries, Ltd. ADR (a)		50,432		3,310,356
				6,267,211
ITALY — 2.1%
A2A SpA		68,702		93,587
Assicurazioni Generali SpA		64,664		1,188,537
Atlantia SpA		19,144		509,505
Azimut Holding SpA		4,600		115,230
Banca Generali SpA		3,376		107,013
Banca IFIS SpA		9,023		282,583
Banca Monte dei Paschi di Siena SpA (b)		168,218		225,130
Banca Popolare dell’Emilia Romagna SC		24,959		190,875
Banca Popolare di Milano Scarl		287,702		287,841
Banca Popolare di Sondrio Scarl		34,386		155,092
Banco Popolare SC (b)		12,128		168,767
Biesse SpA		551		9,529
Brembo SpA		4,141		200,987
Cairo Communication SpA (a)		23,861		118,455
Credito Valtellinese SC (b)		70,942		84,077
Davide Campari-Milano SpA		12,076		104,945
Enel SpA		333,366		1,409,431
Eni SpA		122,903		1,842,432
Esprinet SpA		18,775		173,564
EXOR SpA		4,534		207,305
Falck Renewables SpA		5,523		6,636
Finmeccanica SpA (b)		36,337		509,200
Immobiliare Grande Distribuzione SIIQ SpA		182,894		176,128
Interpump Group SpA		9,257		144,000
Intesa Sanpaolo SpA		634,719		2,129,161
Iren SpA		139,755		226,206
Luxottica Group SpA		6,602		433,174
Mediaset SpA		33,810		140,741
Mediobanca SpA		19,605		189,223
Prada SpA (a)		20,600		64,058
Prysmian SpA		8,467		186,345
Recordati SpA		7,317		191,478
Reply SpA		1,816		248,366
Saipem SpA (a) (b)		19,764		160,808
Salvatore Ferragamo SpA (a)		3,177		75,063
SAVE SpA		8,099		114,373
Snam SpA		100,939		529,610
Societa Cattolica di Assicurazioni S.c.r.l.		23,459		187,049
Sogefi SpA (b)		17,931		42,190
Telecom Italia SpA (b) (c)		675,387		862,066
Telecom Italia SpA (c)		284,849		294,269
Terna Rete Elettrica Nazionale SpA		66,206		342,050
UniCredit SpA		252,262		1,407,155
Unione di Banche Italiane SpA		41,182		277,363
Unipol Gruppo Finanziario SpA		17,015		88,055
UnipolSai SpA		43,213		110,784
Yoox Net-A-Porter Group SpA (b)		3,366		126,332
Zignago Vetro SpA		18,405		121,260
				16,858,028
JAPAN — 22.9%
Acom Co., Ltd. (a) (b)		27,600		131,696
Activia Properties, Inc.		20		85,290
Aderans Co., Ltd. (a)		18,900		131,347
Advance Residence Investment Corp.		38		83,932
Advantest Corp. (a)		25,400		213,681
Aeon Co., Ltd.		61,820		959,971
AEON Financial Service Co., Ltd.		3,500		79,313
AEON REIT Investment Corp.		93		110,321
Aisin Seiki Co., Ltd.		9,800		426,884
Ajinomoto Co., Inc.		22,000		526,614
Akita Bank, Ltd.		154,550		535,744
Alconix Corp.		29,400		394,949
Alfresa Holdings Corp.		10,900		217,918
Alps Electric Co., Ltd.		9,900		272,817
ANA Holdings, Inc.		36,000		104,743
Aomori Bank, Ltd. (a)		10,101		32,664
Aoyama Trading Co., Ltd. (a)		2,100		81,786
Aozora Bank, Ltd.		51,000		179,334
Asahi Glass Co., Ltd. (a)		51,000		295,075
Asahi Group Holdings, Ltd.		35,636		1,125,410
Asahi Kasei Corp.		119,550		817,804
Asics Corp. (a)		10,300		216,112
Astellas Pharma, Inc.		139,800		2,012,251
Atom Corp. (a)		49,400		284,585
Awa Bank, Ltd.		11,550		67,882
Bandai Namco Holdings, Inc.		11,300		240,851
Bank of Iwate, Ltd. (a)		11,855		497,674
Bank of Kyoto, Ltd. (a)		16,000		150,297
Bank of Okinawa, Ltd. (a)		13,355		519,568
Bank of Yokohama, Ltd.		54,550		338,333

69

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bridgestone Corp.		43,565	$	1,511,620
Brother Industries, Ltd.		10,100		117,712
Calbee, Inc.		3,700		158,095
Can Do Co., Ltd. (a)		5,300		69,568
Canon, Inc. (a)		61,616		1,882,363
Casio Computer Co., Ltd. (a)		34,900		825,972
Central Japan Railway Co.		10,200		1,831,498
Chiba Bank, Ltd.		35,550		255,332
Chubu Electric Power Co., Inc.		46,365		640,773
Chugai Pharmaceutical Co., Ltd.		17,580		619,637
Chugoku Electric Power Co., Inc. (a)		6,100		81,134
COLOPL, Inc.		2,000		39,835
Colowide Co., Ltd.		2,400		36,750
COOKPAD, Inc. (a) (b)		6,300		135,746
Credit Saison Co., Ltd.		28,800		574,827
CyberAgent, Inc. (a)		2,900		121,260
Dai Nippon Printing Co., Ltd.		27,000		270,460
Dai-ichi Life Insurance Co., Ltd.		57,100		965,946
Daicel Corp.		13,000		196,035
Daifuku Co., Ltd.		5,300		91,421
Daiichi Sankyo Co., Ltd. (a)		46,365		967,616
Daiken Medical Co., Ltd. (a)		14,700		125,988
Daikin Industries, Ltd.		19,310		1,428,807
Daisan Bank, Ltd.		7,651		11,321
Daishi Bank, Ltd.		15,176		67,620
Daito Trust Construction Co., Ltd.		5,355		623,663
Daiwa House Industry Co., Ltd.		32,400		943,491
Daiwa House REIT Investment Corp. (a)		10		39,320
Daiwa House Residential Investment Corp.		38		78,846
Daiwa Securities Group, Inc.		122,550		758,762
DeNA Co., Ltd. (a)		9,700		153,126
Denso Corp.		30,910		1,494,945
Dentsu, Inc. (a)		10,900		605,279
Don Quijote Holdings Co., Ltd.		3,400		120,828
Dowa Holdings Co., Ltd. (a)		22,000		160,206
East Japan Railway Co.		18,300		1,741,843
Ebara Corp. (a)		19,000		91,450
Eighteenth Bank, Ltd.		8,251		24,281
Eisai Co., Ltd.		15,551		1,042,335
Electric Power Development Co., Ltd.		5,500		197,743
euglena Co., Ltd. (a) (b)		5,000		75,440
F@N Communications, Inc. (a)		9,500		58,914
FANUC Corp.		11,255		1,972,280
Fast Retailing Co., Ltd.		2,600		921,601
Feed One Co., Ltd. (a)		231,400		255,839
Financial Products Group Co., Ltd. (a)		14,100		112,055
Foster Electric Co., Ltd. (a)		17,100		378,405
Frontier Real Estate Investment Corp.		20		80,552
Fuji Heavy Industries, Ltd.		31,100		1,299,636
FUJIFILM Holdings Corp.		30,910		1,305,314
Fujitsu, Ltd.		115,513		582,774
Fukuoka Financial Group, Inc.		154,550		777,279
Fukuoka REIT Corp.		10		17,332
Furukawa Electric Co., Ltd. (a)		123,550		263,954
GLP J — REIT		168		163,119
GMO internet, Inc. (a)		3,500		46,610
GS Yuasa Corp.		17,000		63,876
GungHo Online Entertainment, Inc. (a) (b)		17,600		48,135
Gurunavi, Inc. (a)		6,000		125,841
Hankyu Hanshin Holdings, Inc.		55,513		364,103
Hankyu REIT, Inc.		191		203,234
Heiwa Real Estate REIT, Inc. (a)		446		311,805
Hino Motors, Ltd.		10,600		124,156
Hirose Electric Co., Ltd. (a)		900		110,429
Hitachi Metals, Ltd.		12,600		157,637
Hitachi, Ltd.		271,475		1,560,538
Hokkoku Bank, Ltd.		154,550		517,758
Honda Motor Co., Ltd.		89,075		2,895,243
Hoya Corp.		34,106		1,412,212
Hulic Co., Ltd.		16,100		143,072
Hyakugo Bank, Ltd. (a)		10,550		51,831
Ibiden Co., Ltd. (a)		15,900		230,381
Ichigo Office REIT Investment		613		442,316
IHI Corp. (a)		45,000		126,065
Iida Group Holdings Co., Ltd.		5,000		93,936
Industrial & Infrastructure Fund Investment Corp. (a)		40		191,529
Infomart Corp.		13,700		136,095
Inpex Corp.		36,700		361,676
Intage Holdings, Inc.		12,100		171,801
Iriso Electronics Co., Ltd. (a)		2,200		124,727
Isetan Mitsukoshi Holdings, Ltd.		18,400		242,590
Isuzu Motors, Ltd.		65,500		715,466
ITOCHU Corp.		113,350		1,358,749
Iwatani Corp. (a)		14,000		72,854
J Front Retailing Co., Ltd.		5,100		74,871
Jafco Co., Ltd.		2,100		83,096
Japan Airlines Co., Ltd.		4,000		144,844
Japan Airport Terminal Co., Ltd. (a)		4,800		216,268
Japan Digital Laboratory Co., Ltd.		20,720		283,857
Japan Excellent, Inc.		97		107,083
Japan Exchange Group, Inc.		30,200		479,505
Japan Hotel REIT Investment Corp.		1,070		796,085
Japan Logistics Fund, Inc.		37		72,065
Japan Prime Realty Investment Corp.		29		99,564
Japan Real Estate Investment Corp.		35		170,788
Japan Retail Fund Investment Corp.		47		90,722
Japan Tissue Engineering Co., Ltd. (a) (b)		2,200		20,062
Japan Tobacco, Inc. (a)		61,200		2,274,618
JFE Holdings, Inc. (a)		30,910		493,347
JGC Corp.		8,000		123,895
Joyo Bank, Ltd.		31,000		148,177
JSR Corp. (a)		26,300		415,177
JTEKT Corp.		11,800		196,675
JX Holdings, Inc.		194,200		820,743
Kajima Corp.		115,475		694,991
Kakaku.com, Inc.		13,200		262,694
Kaken Pharmaceutical Co., Ltd.		2,000		138,160
Kansai Electric Power Co., Inc. (b)		57,600		698,842
Kansai Paint Co., Ltd. (a)		13,300		203,986
Kao Corp.		26,100		1,357,126
Kawai Musical Instruments Manufacturing Co., Ltd. (a)		10,800		204,158
Kawasaki Heavy Industries, Ltd.		46,000		172,842
KDDI Corp.		88,500		2,320,371
Keikyu Corp.		24,000		200,108
Keio Corp. (a)		26,000		226,942
Keisei Electric Railway Co., Ltd.		15,000		193,275
Kenedix Office Investment Corp.		42		197,265
Kenedix, Inc. (a)		14,800		53,888

70

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Keyence Corp.		2,000	$	1,115,258
Kikkoman Corp. (a)		8,000		280,976
Kintetsu Group Holdings Co., Ltd.		95,101		389,748
Kirin Holdings Co., Ltd. (a)		29,400		402,648
Kiyo Bank, Ltd. (a)		34,200		498,664
KNT-CT Holdings Co., Ltd. (b)		139,000		271,541
Kobe Steel, Ltd.		171,000		189,060
Koito Manufacturing Co., Ltd.		5,000		208,238
Komatsu, Ltd.		57,720		955,802
Konami Holdings Corp. (a)		4,300		103,233
Konica Minolta, Inc.		55,475		563,535
Kubota Corp.		91,550		1,436,854
Kuraray Co., Ltd.		16,700		204,351
Kurita Water Industries, Ltd.		16,210		342,405
Kyocera Corp.		27,600		1,297,231
Kyoritsu Maintenance Co., Ltd.		600		51,972
Kyoto Kimono Yuzen Co., Ltd.		25,100		189,875
Kyowa Hakko Kirin Co., Ltd.		11,000		175,111
Kyushu Electric Power Co., Inc. (a) (b)		19,200		211,799
Kyushu Financial Group, Inc. (b)		10,800		76,043
Lawson, Inc.		3,000		245,646
Leopalace21 Corp. (a) (b)		1,600		8,752
LIXIL Group Corp. (a)		11,100		249,138
M3, Inc. (a)		10,000		209,651
Makita Corp. (a)		5,600		327,262
Marubeni Corp.		156,550		813,495
Matsuya Co., Ltd. (a)		28,800		298,307
Mazda Motor Corp.		21,500		451,108
MCUBS MidCity Investment Corp.		128		393,167
Medipal Holdings Corp.		33,199		572,382
MEIJI Holdings Co., Ltd.		5,200		434,432
Meiko Network Japan Co., Ltd.		28,700		334,251
Milbon Co., Ltd.		13,400		550,281
Minebea Co., Ltd. (a)		16,000		139,524
MISUMI Group, Inc.		56,600		793,280
Mitsubishi Chemical Holdings Corp.		72,800		468,590
Mitsubishi Corp.		90,938		1,533,083
Mitsubishi Electric Corp.		137,550		1,466,461
Mitsubishi Estate Co., Ltd.		56,925		1,194,150
Mitsubishi Gas Chemical Co., Inc.		15,000		77,559
Mitsubishi Heavy Industries, Ltd.		212,101		940,301
Mitsubishi Logistics Corp. (a)		9,000		120,080
Mitsubishi Materials Corp.		57,000		181,953
Mitsubishi Motors Corp. (a)		46,200		395,578
Mitsubishi Tanabe Pharma Corp.		12,000		209,086
Mitsubishi UFJ Financial Group, Inc.		695,924		4,379,933
Mitsui & Co., Ltd.		109,526		1,316,097
Mitsui Chemicals, Inc.		124,550		561,171
Mitsui Fudosan Co., Ltd.		43,000		1,092,381
Mitsui OSK Lines, Ltd. (a)		131,550		335,723
Mizuho Financial Group, Inc.		1,195,100		2,419,110
Mori Hills REIT Investment Corp.		60		77,310
MS&AD Insurance Group Holdings, Inc.		31,199		925,894
Murata Manufacturing Co., Ltd.		14,100		2,059,412
Musashino Bank, Ltd.		15,455		571,075
Nabtesco Corp.		5,200		107,117
Nachi-Fujikoshi Corp. (a)		15,000		69,579
Nagoya Railroad Co., Ltd. (a)		40,000		167,921
Nanto Bank, Ltd.		152,550		481,890
NEC Corp.		115,000		368,054
NGK Insulators, Ltd.		12,000		274,725
NGK Spark Plug Co., Ltd.		6,000		160,356
NH Foods, Ltd.		9,000		177,913
NHK Spring Co., Ltd.		11,600		117,837
Nidec Corp.		14,600		1,072,532
Nikon Corp. (a)		30,600		413,359
Nintendo Co., Ltd.		4,900		682,485
Nippon Accommodations Fund, Inc.		11		38,406
Nippon Building Fund, Inc.		38		182,269
Nippon Express Co., Ltd.		41,000		194,954
Nippon Paint Holdings Co., Ltd.		11,000		270,485
Nippon Paper Industries Co., Ltd. (a)		4,200		68,571
Nippon Prologis REIT, Inc.		10		18,164
Nippon Steel & Sumitomo Metal Corp.		49,700		998,173
Nippon Suisan Kaisha, Ltd.		97,000		547,512
Nippon Telegraph & Telephone Corp.		31,600		1,270,357
Nippon Yusen KK		154,550		379,004
Nissan Motor Co., Ltd. (a)		123,541		1,314,026
Nissei ASB Machine Co., Ltd.		4,300		73,528
Nissin Foods Holdings Co., Ltd.		4,100		219,153
Nitori Holdings Co., Ltd.		1,700		144,570
Nitto Denko Corp.		10,700		792,705
Nomura Holdings, Inc.		200,185		1,130,102
Nomura Real Estate Master Fund, Inc. (b)		70		86,936
Nomura Research Institute, Ltd.		3,300		128,110
NSK, Ltd.		19,100		210,537
NTT Data Corp.		12,100		591,446
NTT DOCOMO, Inc.		90,800		1,874,951
Obayashi Corp.		102,550		953,934
Odakyu Electric Railway Co., Ltd.		28,000		304,684
Ogaki Kyoritsu Bank, Ltd.		154,550		629,532
Oji Holdings Corp.		23,000		93,495
Oki Electric Industry Co., Ltd. (a)		36,000		45,488
Olympus Corp.		16,300		650,401
Omron Corp.		10,600		358,194
Ono Pharmaceutical Co., Ltd.		4,700		847,442
Oriental Land Co., Ltd. (a)		13,300		811,190
ORIX Corp.		61,700		879,890
Orix JREIT, Inc.		94		122,213
Osaka Gas Co., Ltd.		103,000		375,371
Otsuka Holdings Co., Ltd.		26,700		958,177
Panasonic Corp.		123,850		1,277,160
Pigeon Corp. (a)		11,400		280,984
Rakuten, Inc. (b)		33,000		384,879
Raysum Co., Ltd. (a)		3,300		28,502
Recruit Holdings Co., Ltd.		21,300		630,350
Renesas Electronics Corp. (a) (b)		11,800		75,531
Resona Holdings, Inc.		104,700		514,557
Ricoh Co., Ltd.		29,200		303,663
Ringer Hut Co., Ltd.		900		20,896
Riso Kyoiku Co., Ltd. (a) (b)		21,006		62,165
Rock Field Co., Ltd.		14,000		344,952
Rohm Co., Ltd.		5,700		292,830
Rohto Pharmaceutical Co., Ltd.		5,901		118,810
Ryohin Keikaku Co., Ltd.		1,000		204,830
San-In Godo Bank, Ltd.		8,850		72,833
Sankyo Seiko Co., Ltd.		57,100		222,619
Sanrio Co., Ltd. (a)		3,900		92,398
Santen Pharmaceutical Co., Ltd.		19,200		320,173
Sawai Pharmaceutical Co., Ltd.		1,600		110,528
SBI Holdings, Inc.		10,400		114,206
Secom Co., Ltd.		15,648		1,071,861

71

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Sega Sammy Holdings, Inc.		5,300	$	50,006
Seibu Holdings, Inc.		11,300		233,055
Seiko Epson Corp.		19,500		303,130
Seino Holdings Co., Ltd.		10,500		110,503
Sekisui Chemical Co., Ltd.		18,300		242,033
Sekisui House SI Residential Investment Corp.		167		150,487
Sekisui House, Ltd.		30,600		520,578
Seria Co., Ltd.		1,900		92,714
Seven & i Holdings Co., Ltd.		46,228		2,132,802
Sharp Corp. (a) (b)		93,000		96,637
Shiga Bank, Ltd. (a)		11,550		58,280
Shikoku Bank, Ltd.		9,101		20,805
Shikoku Electric Power Co., Inc. (a)		10,600		167,422
Shimadzu Corp.		12,000		203,999
Shimano, Inc.		3,700		573,939
Shimizu Corp.		31,513		259,345
Shin-Etsu Chemical Co., Ltd.		25,517		1,403,599
Shinsei Bank, Ltd.		95,000		176,898
Shionogi & Co., Ltd.		15,200		695,337
Shiseido Co., Ltd. (a)		11,800		248,075
Shizuoka Bank, Ltd. (a)		27,000		265,298
SMC Corp.		2,200		581,022
SMS Co., Ltd.		10,300		217,739
SoftBank Group Corp.		48,336		2,466,725
Sohgo Security Services Co., Ltd.		3,800		180,057
Sompo Japan Nipponkoa Holdings, Inc.		31,600		1,053,640
Sony Corp.		59,820		1,492,827
Square Enix Holdings Co., Ltd. (a)		3,400		82,954
Stanley Electric Co., Ltd.		26,973		599,126
Start Today Co., Ltd.		2,700		88,208
Starts Proceed Investment Corp. (a)		51		72,666
Sumitomo Chemical Co., Ltd.		154,550		900,616
Sumitomo Corp.		82,275		848,432
Sumitomo Dainippon Pharma Co., Ltd. (a)		5,300		63,048
Sumitomo Electric Industries, Ltd.		61,520		881,670
Sumitomo Heavy Industries, Ltd.		24,000		109,331
Sumitomo Metal Mining Co., Ltd.		24,000		295,174
Sumitomo Mitsui Financial Group, Inc.		67,500		2,584,521
Sumitomo Mitsui Trust Holdings, Inc.		268,550		1,029,150
Sumitomo Precision Products Co., Ltd. (a)		46,000		167,106
Sumitomo Realty & Development Co., Ltd.		20,000		577,746
Sun Corp.		3,000		16,584
Sun Frontier Fudousan Co., Ltd. (a)		3,100		23,013
Suntory Beverage & Food, Ltd.		5,000		221,123
Suruga Bank, Ltd.		10,200		213,081
Suzuki Motor Corp.		20,700		637,201
Sysmex Corp.		5,800		377,522
T&D Holdings, Inc.		46,600		623,296
Tadano, Ltd.		6,000		73,619
Taiheiyo Cement Corp.		23,000		67,684
Taisei Corp.		99,438		661,294
Taiyo Yuden Co., Ltd. (a)		20,700		290,122
Takeda Pharmaceutical Co., Ltd.		42,965		2,166,197
Takeuchi Manufacturing Co., Ltd.		17,900		368,877
TDK Corp.		12,555		816,161
Teijin, Ltd.		158,550		546,974
Temp Holdings Co., Ltd.		9,200		144,162
Terumo Corp.		31,200		980,390
THK Co., Ltd.		5,400		101,361
Tobu Railway Co., Ltd.		47,000		233,642
Toho Bank, Ltd. (a)		12,101		43,658
Tohoku Electric Power Co., Inc.		48,500		612,827
Tokio Marine Holdings, Inc.		46,365		1,816,134
Tokyo Dome Corp.		93,000		478,549
Tokyo Electric Power Co., Inc. (b)		62,175		361,281
Tokyo Electron, Ltd.		11,955		727,665
Tokyo Gas Co., Ltd.		156,475		742,474
Tokyo Tatemono Co., Ltd.		9,600		105,580
Tokyu Corp.		50,550		403,408
Tokyu Fudosan Holdings Corp.		19,800		125,422
Toppan Printing Co., Ltd.		28,000		260,460
Toray Industries, Inc. (a)		136,550		1,282,693
Toshiba Corp. (a) (b)		266,513		553,652
TOTO, Ltd. (a)		4,000		142,483
Toyo Suisan Kaisha, Ltd.		3,000		105,491
Toyo Tire & Rubber Co., Ltd.		9,600		191,848
Toyota Industries Corp.		10,300		559,117
Toyota Motor Corp.		138,988		8,651,583
Toyota Tsusho Corp.		9,700		229,729
Trend Micro, Inc. (a) (b)		4,500		184,422
Unicharm Corp. (a)		18,100		372,698
United Urban Investment Corp.		55		74,982
Usen Corp. (b)		35,530		103,080
USS Co., Ltd.		11,110		169,012
ValueCommerce Co., Ltd.		4,400		18,471
Warabeya Nichiyo Co., Ltd.		15,700		299,657
West Japan Railway Co.		9,600		669,873
Yahoo Japan Corp. (a)		52,100		213,952
Yakult Honsha Co., Ltd. (a)		4,200		208,088
Yamada Denki Co., Ltd. (a)		81,580		354,681
Yamagata Bank, Ltd. (a)		141,176		553,931
Yamaha Corp.		11,300		277,016
Yamaha Motor Co., Ltd.		12,400		282,851
Yamanashi Chuo Bank, Ltd.		7,550		38,913
Yamato Holdings Co., Ltd.		16,300		349,049
Yaskawa Electric Corp.		11,200		154,833
Yokogawa Electric Corp.		10,900		132,745
Zenrin Co., Ltd. (a)		29,700		610,320
				183,577,612
JORDAN — 0.0% (d)
Hikma Pharmaceuticals PLC		6,566		222,682
LUXEMBOURG — 0.1%
ArcelorMittal (a)		38,379		162,470
SES SA		15,849		440,319
Tenaris SA (a)		17,633		209,553
				812,342
MACAU — 0.0% (d)
MGM China Holdings, Ltd. (a)		21,600		27,034
Wynn Macau, Ltd. (a)		52,000		60,789
				87,823
MEXICO — 0.0% (d)
Fresnillo PLC		9,323		97,288
NETHERLANDS — 2.8%
Aegon NV		134,407		763,613
AerCap Holdings NV (b)		3,849		166,123
Akzo Nobel NV		16,405		1,099,184

72

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Altice NV Class A (b)		14,756	$	212,390
ASML Holding NV		24,329		2,181,680
Constellium NV Class A (b)		3,821		29,422
Fugro NV (a) (b)		6,271		102,592
Gemalto NV		3,386		203,295
Heineken Holding NV		4,492		346,456
Heineken NV		10,215		874,076
ING Groep NV		206,005		2,786,101
Koninklijke Ahold NV		39,440		834,381
Koninklijke DSM NV		13,083		657,734
Koninklijke KPN NV		215,514		817,522
Koninklijke Philips NV		58,388		1,494,337
NXP Semiconductors NV (b)		16,167		1,362,070
OCI NV (b)		1,870		46,316
PostNL NV (b)		37,100		141,056
Randstad Holding NV		3,030		189,359
Royal Dutch Shell PLC Class A		200,108		4,500,772
Royal Dutch Shell PLC Class B		119,515		2,718,044
SBM Offshore NV (a) (b)		19,592		248,157
TNT Express NV		32,234		272,773
Wolters Kluwer NV		14,255		479,499
				22,526,952
NEW ZEALAND — 0.2%
a2 Milk Co., Ltd. (a) (b)		133,167		169,569
Air New Zealand, Ltd.		59,009		119,375
Auckland International Airport, Ltd.		24,746		97,411
Fisher & Paykel Healthcare Corp., Ltd.		114,341		696,673
Fletcher Building, Ltd.		16,734		84,202
Goodman Property Trust		109,225		92,722
Infratil, Ltd.		46,680		104,660
Kiwi Property Group, Ltd.		111,352		102,913
Property for Industry, Ltd.		107,067		117,643
Steel & Tube Holdings, Ltd.		69,720		106,916
Stride Property, Ltd.		72,037		107,263
Vital Healthcare Property Trust		95,510		122,272
Xero, Ltd. (b)		5,050		68,453
				1,990,072
NORWAY — 0.6%
Akastor ASA (b)		6,523		8,844
Aker Solutions ASA (a)		6,523		22,330
DNB ASA		56,537		701,335
DNO ASA (a) (b)		37,497		25,524
Marine Harvest ASA (b)		16,186		218,706
Norsk Hydro ASA		94,796		354,815
Opera Software ASA (a)		13,063		74,603
Orkla ASA		90,814		719,219
Schibsted ASA Class B (b)		3,173		101,126
Schibsted ASA Class A		3,278		108,213
Statoil ASA		64,087		895,633
Storebrand ASA (b)		52,561		207,540
Telenor ASA		48,171		807,081
TGS Nopec Geophysical Co. ASA (a)		5,344		85,370
Yara International ASA		15,881		686,995
				5,017,334
PORTUGAL — 0.2%
Banco Comercial Portugues SA (a) (b)		2,137,043		113,520
EDP — Energias de Portugal SA		161,456		582,469
Galp Energia SGPS SA		19,684		229,223
Mota-Engil SGPS SA (a)		25,468		53,257
NOS SGPS SA		60,384		475,302
Pharol SGPS SA (b)		69,839		20,560
				1,474,331
SINGAPORE — 1.1%
AIMS AMP Capital Industrial REIT		137,498		133,267
Ascendas Hospitality Trust		196,500		102,499
Ascendas Real Estate Investment Trust		96,400		154,930
Cache Logistics Trust (a)		157,000		100,708
CapitaLand, Ltd.		306,000		722,588
City Developments, Ltd.		21,700		117,016
ComfortDelGro Corp., Ltd.		102,100		219,508
Cosco Corp. Singapore, Ltd. (a)		578,900		187,709
Croesus Retail Trust		329,128		187,921
DBS Group Holdings, Ltd.		86,416		1,016,659
Genting Singapore PLC (a)		620,900		337,006
Global Logistic Properties, Ltd.		81,500		123,515
IGG, Inc.		60,000		26,941
InterOil Corp. (a) (b)		2,140		67,239
Jardine Cycle & Carriage, Ltd.		3,333		81,877
Keppel Corp., Ltd. (a)		163,475		750,166
Keppel REIT (a)		41,813		27,411
Lippo Malls Indonesia Retail Trust		918,100		207,093
Oversea-Chinese Banking Corp., Ltd. (a)		137,368		852,105
Oxley Holdings, Ltd. (a)		188,000		58,309
Sembcorp Industries, Ltd. (a)		42,500		91,372
Singapore Airlines, Ltd.		21,500		169,739
Singapore Exchange, Ltd. (a)		39,900		216,565
Singapore Press Holdings, Ltd. (a)		75,500		209,685
Singapore Telecommunications, Ltd.		366,600		948,382
Soilbuild Business Space REIT		235,500		127,822
Tiger Airways Holdings, Ltd. (a) (b)		630,649		182,262
United Overseas Bank, Ltd.		53,112		734,167
UOL Group, Ltd.		30,028		132,080
Wilmar International, Ltd. (a)		152,000		315,004
				8,601,545
SOUTH AFRICA — 0.1%
Investec PLC		26,606		187,995
Lonmin PLC (a) (b)		10,178		12,527
Mondi PLC		34,120		670,861
				871,383
SOUTH KOREA — 4.2%
Amorepacific Corp.		1,236		436,930
Asiana Airlines, Inc. (b)		36,930		145,824
Bioland, Ltd. (a)		12,840		302,781
BNK Financial Group, Inc.		12,070		86,674
Celltrion, Inc. (a) (b)		4,005		288,621
CJ CGV Co., Ltd.		5,480		588,870
Coway Co., Ltd.		1,854		132,976
Credu Corp.		6,448		285,955
Crown Confectionery Co., Ltd.		742		342,982
Dae Han Flour Mills Co., Ltd.		2,070		324,830
Daewoo Shipbuilding & Marine Engineering Co., Ltd. (a)		3,914		16,924
Digitech Systems Co., LTD. (b)		19,094		—
Dongkuk Industries Co., Ltd.		73,612		239,190
Dongwon F&B Co., Ltd.		1,080		361,980
Dongwon Industries Co., Ltd. (a)		1,206		272,046
DY Corp.		10,170		60,714
E-MART, Inc.		809		130,400
Genic Co., Ltd. (b)		7,236		186,061

73

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
GS Home Shopping, Inc.		1,065	$	151,682
Hana Financial Group, Inc.		12,069		242,914
Hana Tour Service, Inc.		3,734		366,219
Hancom, Inc.		8,676		173,143
Hankook Shell Oil Co., Ltd.		433		174,116
Hankook Tire Co., Ltd.		1,898		76,160
Hanssem Co., Ltd.		2,224		439,091
Harim Co., Ltd. (a) (b)		32,271		114,492
Hotel Shilla Co., Ltd. (a)		4,460		294,024
Huons Co., Ltd.		4,466		349,266
Hyundai Elevator Co., Ltd. (b)		2,929		150,378
Hyundai Engineering Plastics Co., Ltd.		52,214		489,833
Hyundai Glovis Co., Ltd.		718		118,182
Hyundai Heavy Industries Co., Ltd. (a) (b)		1,847		138,303
Hyundai Hy Communications & Network Co., Ltd.		51,925		154,108
Hyundai Mobis Co., Ltd.		2,817		592,205
Hyundai Motor Co. Preference Shares		1,143		102,354
Hyundai Motor Co.		7,139		907,178
Hyundai Securities Co., Ltd.		57,568		318,636
Hyundai Steel Co.		2,370		100,961
Infinitt Healthcare Co., Ltd. (b)		17,738		141,898
Interpark Holdings Corp.		11,139		104,973
Jenax, Inc. (a) (b)		18,643		270,292
JoyCity Corp. (a) (b)		3,961		98,979
Kangwon Land, Inc.		4,285		140,330
KB Capital Co., Ltd.		5,113		100,511
KB Financial Group, Inc.		15,808		446,919
KCC Corp.		186		66,227
Kia Motors Corp.		10,303		462,187
KIWOOM Securities Co., Ltd.		8,159		431,417
Koh Young Technology, Inc.		13,693		451,353
Korea Electric Power Corp. ADR (a) (b)		35,420		749,841
Korea Zinc Co., Ltd.		715		285,988
Korean Air Lines Co., Ltd. (b)		3,055		72,170
KT Corp. ADR (a) (b)		33,282		396,389
KT&G Corp.		5,015		446,947
Ktis Corp.		28,117		114,142
KyungDong City Gas Co., Ltd.		1,892		143,931
LG Chem, Ltd.		2,049		574,045
LG Chem, Ltd. Preference Shares		885		186,427
LG Display Co., Ltd.		10,276		215,151
LG Display Co., Ltd. ADR (b)		46,281		483,174
LG Electronics, Inc.		5,814		266,763
LG Household & Health Care, Ltd.		475		425,355
LG Uplus Corp.		10,451		92,696
Lotte Chemical Corp.		663		137,683
Lotte Food Co., Ltd.		452		365,825
Lotte Shopping Co., Ltd.		234		46,399
Medy-Tox, Inc.		824		360,366
Modetour Network, Inc. (a)		12,670		364,146
Muhak Co., Ltd. (b)		11,158		363,512
NAVER Corp.		1,493		837,827
NCSoft Corp.		768		139,511
Nexon GT Co., Ltd. (b)		10,067		103,885
NHN Entertainment Corp. (b)		555		26,932
OCI Co., Ltd. (a)		649		41,512
Orion Corp.		144		143,196
Ottogi Corp.		393		410,580
POSCO ADR (a)		22,752		804,511
S-1 Corp.		1,786		151,861
Sajo Industries Co., Ltd. (a) (b)		7,120		410,483
Samchuly Bicycle Co., Ltd.		7,074		104,069
Samsung C&T Corp. (b)		4,367		521,411
Samsung Electronics Co., Ltd. GDR		13,150		6,989,225
Samsung Engineering Co., Ltd. (b)		1,351		16,764
Samsung Fire & Marine Insurance Co., Ltd.		1,285		336,990
Samsung Heavy Industries Co., Ltd.		6,627		61,322
Samsung Life Insurance Co., Ltd.		3,805		356,957
Samsung SDI Co., Ltd.		1,457		141,655
Samsung SDS Co., Ltd.		1,784		386,453
Shinhan Financial Group Co., Ltd.		19,629		662,084
Shinsegae Food Co., Ltd.		2,716		400,723
SK Holdings Co., Ltd.		1,202		246,540
SK Hynix, Inc.		24,137		632,990
SK Innovation Co., Ltd. (b)		5,642		625,526
SK Telecom Co., Ltd. ADR		27,744		559,042
Woori Bank		7,947		59,778
Youlchon Chemical Co., Ltd.		10,441		105,073
				33,739,939
SPAIN — 2.5%
Abengoa SA Class A (a)		16,579		7,384
Abertis Infraestructuras SA		21,816		341,499
Acciona SA		1,244		106,865
Acerinox SA (a)		6,379		65,255
ACS Actividades de Construccion y Servicios SA		8,721		255,930
Aena SA (b) (e)		3,474		397,759
Amadeus IT Holding SA Class A		21,156		935,013
Atresmedia Corp. de Medios de Comunicacion SA		10,800		115,443
Banco Bilbao Vizcaya Argentaria SA		304,089		2,226,107
Banco de Sabadell SA (a)		216,604		384,710
Banco Popular Espanol SA (a)		86,867		287,148
Banco Santander SA		681,148		3,372,606
Bankia SA (a)		141,285		164,835
Bankinter SA		38,798		275,805
CaixaBank SA (a)		110,815		386,896
Distribuidora Internacional de Alimentacion SA (a) (b)		36,288		214,601
Ebro Foods SA		4,881		96,262
Enagas SA (a)		10,721		302,802
Endesa SA		15,011		302,077
Faes Farma SA		12,226		36,656
Ferrovial SA		20,259		458,963
Gamesa Corp. Tecnologica SA		10,523		180,841
Gas Natural SDG SA		17,026		347,990
Grifols SA		9,689		448,688
Grifols SA Class B, Preference Shares		6,140		199,529
Iberdrola SA		276,395		1,966,624
Indra Sistemas SA (a) (b)		23,642		222,640
Industria de Diseno Textil SA		53,035		1,825,722
Let’s GOWEX SA (a) (b)		4,019		—
Mediaset Espana Comunicacion SA		9,448		102,942
NH Hotel Group SA (b)		40,198		220,082
Pharma Mar SA (b)		49,928		136,134
Red Electrica Corp. SA		5,114		428,372
Repsol SA		60,048		660,129
Sacyr SA (a)		23,772		46,844
Telefonica SA		211,685		2,353,573
				19,874,726

74

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SWEDEN — 2.8%
AddTech AB Class B		9,277	$	158,182
Alfa Laval AB (a)		39,380		724,017
Assa Abloy AB Class B		46,876		989,719
Atlas Copco AB Class A		30,849		762,571
Atlas Copco AB Class B		18,893		437,668
Bilia AB Class A		7,104		161,788
BillerudKorsnas AB		8,392		156,480
Boliden AB		35,565		602,832
Electrolux AB Series B		22,832		555,729
Elekta AB Class B (a)		12,343		105,560
Getinge AB Class B		4,194		110,688
Hennes & Mauritz AB Class B		48,209		1,727,509
Hexagon AB Class B		9,536		356,076
Hexpol AB		14,796		159,884
Husqvarna AB Class B		19,440		129,130
ICA Gruppen AB (a)		3,658		133,379
Industrivarden AB Class A		9,168		172,799
Industrivarden AB Class C		7,732		133,076
Investment AB Kinnevik Class B		15,258		474,177
Investor AB Class B		17,563		651,222
Investor AB Class A		6,333		230,315
JM AB		3,910		117,199
Karo Bio AB (b)		44,416		178,600
KNOW IT AB		18,104		121,329
Lagercrantz Group AB Class B		24,087		227,139
Lundin Petroleum AB (a) (b)		10,775		156,693
Meda AB Class A		10,393		132,030
NetEnt AB (b)		11,194		656,588
Nibe Industrier AB Class B (a)		3,889		131,239
Nordea Bank AB		150,768		1,668,524
Opus Group AB (a)		69,636		51,624
Orexo AB (a) (b)		5,217		38,831
Qliro Group AB (a) (b)		54,418		78,103
SAA b AB Class B (a)		4,724		146,137
Sandvik AB		72,768		639,156
Securitas AB Class B		15,130		233,305
Skandinaviska Enskilda Banken AB Class A		82,141		871,042
Skanska AB Class B		18,908		369,610
SKF AB Class A		12,410		202,991
Svenska Cellulosa AB SCA Class B		23,302		681,321
Svenska Handelsbanken AB Class A		70,380		942,507
Swedbank AB Class A		48,694		1,080,664
Swedish Match AB		7,481		266,386
Swedish Orphan Biovitrum AB (b)		10,421		166,378
Tele2 AB Class B		36,891		370,853
Telefonaktiebolaget LM Ericsson Class B		178,555		1,743,064
TeliaSonera AB		119,814		599,596
Tethys Oil AB		14,588		99,496
Trelleborg AB Class B		11,449		223,803
Volvo AB Class A (a)		106,362		1,021,280
				22,148,289
SWITZERLAND — 7.9%
ABB, Ltd. (b)		94,689		1,698,915
Actelion, Ltd. (b)		5,076		707,902
Adecco SA (b)		14,165		974,993
Aryzta AG (b)		1,788		91,097
Baloise Holding AG		2,359		300,708
Chocoladefabriken Lindt & Spruengli AG (c)		42		262,448
Chocoladefabriken Lindt & Spruengli AG (c)		5		372,727
Cie Financiere Richemont SA		24,677		1,777,434
Clariant AG (a) (b)		13,494		256,265
Coca-Cola HBC AG (b)		8,220		175,432
Comet Holding AG (a) (b)		253		183,874
Credit Suisse Group AG (b)		78,633		1,703,846
Galenica AG (a)		176		276,747
Geberit AG		1,818		617,866
Givaudan SA (b)		439		799,497
Glencore PLC		538,627		718,305
Julius Baer Group, Ltd. (b)		15,571		756,928
Kuehne + Nagel International AG		5,704		785,226
LafargeHolcim, Ltd. (b) (c)		27,491		1,381,416
LafargeHolcim, Ltd. (b) (c)		474		24,056
Leonteq AG (a) (b)		2,166		314,838
Logitech International SA		7,946		122,246
Lonza Group AG (b)		2,499		407,180
Meyer Burger Technology AG (a) (b)		5,892		35,140
Nestle SA		150,715		11,224,579
Novartis AG		129,650		11,242,378
Partners Group Holding AG		513		185,136
PSP Swiss Property AG (b)		1,848		162,461
Roche Holding AG		34,501		9,526,550
Schindler Holding AG		2,113		354,629
SGS SA		523		998,454
Sika AG		106		383,337
Sonova Holding AG		2,664		338,788
STMicroelectronics NV (a)		38,615		262,801
Sulzer AG		3,976		374,761
Swatch Group AG (a) (c)		2,779		972,234
Swatch Group AG (c)		2,758		187,357
Swiss Life Holding AG (b)		1,519		411,693
Swiss Prime Site AG (b)		3,288		257,850
Swiss Re AG		16,522		1,620,014
Swisscom AG		1,203		604,504
Syngenta AG		5,494		2,153,143
Temenos Group AG (a) (b)		4,567		237,019
U-Blox AG (b)		868		186,000
UBS Group AG		186,082		3,628,692
Wolseley PLC		16,985		924,012
Zurich Insurance Group AG (b)		8,027		2,072,105
				63,053,583
UNITED KINGDOM — 15.4%
3i Group PLC		97,880		694,782
Aberdeen Asset Management PLC (a)		52,846		225,413
Admiral Group PLC		11,591		283,423
Afren PLC (a) (b)		55,933		—
Aggreko PLC		10,245		138,015
Amec Foster Wheeler PLC		43,013		271,909
Amlin PLC		23,488		229,697
Anglo American PLC (a)		73,299		323,512
ARM Holdings PLC		61,051		934,924
Ashtead Group PLC		20,676		341,008
Associated British Foods PLC		16,848		829,894
AstraZeneca PLC		64,001		4,354,795
Aviva PLC		240,007		1,825,331
Avon Rubber PLC		21,658		316,025
Babcock International Group PLC		24,415		365,610
BAE Systems PLC		147,432		1,085,631
Balfour Beatty PLC (b)		126,624		504,277

75

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Barclays PLC		791,326	$	2,553,108
Barratt Developments PLC		75,903		700,328
BBA Aviation PLC		55,432		154,497
Bellway PLC		4,791		200,263
Berkeley Group Holdings PLC		5,018		272,766
BG Group PLC		172,300		2,501,437
Big Yellow Group PLC		13,137		156,063
Booker Group PLC		78,473		209,925
BP PLC		848,766		4,428,527
British American Tobacco PLC		91,778		5,101,092
British Land Co. PLC		81,494		944,096
Britvic PLC		10,178		109,135
BT Group PLC		444,962		3,093,548
BTG PLC (b)		17,815		180,783
Bunzl PLC		15,661		435,110
Burberry Group PLC		25,879		455,810
Cable & Wireless Communications PLC		213,215		233,493
Cairn Energy PLC (b)		20,632		47,956
Capita PLC		43,953		782,571
Capital & Counties Properties PLC		35,133		228,154
Centamin PLC		107,265		101,815
Centrica PLC		294,267		945,944
CNH Industrial NV		46,911		323,083
Cobham PLC		39,260		163,875
Compass Group PLC		81,988		1,419,895
Concentric AB		7,816		99,200
Croda International PLC		3,546		158,989
Daily Mail & General Trust PLC Class A		10,710		110,498
Darty PLC		42,124		63,949
DCC PLC		4,017		335,109
Derwent London PLC		5,301		286,899
Diageo PLC		128,068		3,504,319
Dialog Semiconductor PLC (b)		3,683		124,486
Direct Line Insurance Group PLC		67,495		405,385
Dixons Carphone PLC		47,869		352,771
Drax Group PLC (a)		18,111		65,240
DS Smith PLC		26,005		152,050
easyJet PLC		11,836		303,544
Fiat Chrysler Automobiles NV (b)		50,323		706,283
Firstgroup PLC (b)		163,106		257,951
Foxtons Group PLC		17,173		47,585
G4S PLC		170,920		568,077
GKN PLC		80,874		367,613
GlaxoSmithKline PLC		245,334		4,964,738
Grafton Group PLC		10,229		111,566
Great Portland Estates PLC		16,254		198,362
Halma PLC		17,866		227,778
Hammerson PLC		34,980		309,342
Hansteen Holdings PLC (a)		62,405		105,868
Hargreaves Lansdown PLC		9,263		205,610
Hays PLC		64,897		139,556
Henderson Group PLC		50,913		232,326
HomeServe PLC		18,872		115,073
Howden Joinery Group PLC		28,002		217,298
HSBC Holdings PLC		909,411		7,187,123
ICAP PLC		75,255		565,129
IMI PLC		10,886		138,227
Imperial Tobacco Group PLC		45,052		2,381,513
Inchcape PLC		19,556		226,265
Indivior PLC		37,904		104,918
Informa PLC		29,362		265,286
Inmarsat PLC		14,452		242,190
InterContinental Hotels Group PLC		12,242		479,596
International Consolidated Airlines Group SA		31,899		287,032
International Personal Finance PLC		15,795		67,280
Intertek Group PLC		7,895		323,144
IP Group PLC (b)		32,964		99,601
ITV PLC		171,251		698,157
J Sainsbury PLC (a)		115,273		439,704
John Wood Group PLC		16,669		150,482
Johnson Matthey PLC		5,369		210,258
Keller Group PLC		4,734		58,157
Kingfisher PLC		183,174		889,585
Land Securities Group PLC		61,546		1,067,688
Legal & General Group PLC		276,143		1,089,965
Lloyds Banking Group PLC		2,759,777		2,972,222
London Stock Exchange Group PLC		11,269		455,761
Man Group PLC		128,899		333,422
Marks & Spencer Group PLC		117,452		783,161
Meggitt PLC		29,549		163,190
National Grid PLC		195,912		2,707,076
Next PLC		10,006		1,075,118
Ocado Group PLC (b)		18,672		83,690
Old Mutual PLC		352,498		929,469
Ophir Energy PLC (b)		27,700		40,194
Pace PLC		16,412		105,051
Pearson PLC		55,780		605,096
Pennon Group PLC		19,448		246,801
Persimmon PLC (b)		24,838		742,059
Petrofac, Ltd.		11,176		131,120
Provident Financial PLC		3,097		153,692
Prudential PLC		119,271		2,691,399
Randgold Resources, Ltd.		8,024		489,975
Reckitt Benckiser Group PLC		30,985		2,868,457
RELX NV		49,481		835,294
RELX PLC		57,194		1,009,050
Rentokil Initial PLC		86,107		202,173
Rexam PLC		34,456		306,994
Rightmove PLC		4,798		291,711
Rio Tinto PLC		64,782		1,890,070
Rio Tinto, Ltd.		28,162		916,075
Rolls-Royce Holdings PLC (b)		101,932		863,866
Royal Bank of Scotland Group PLC (b)		82,195		365,865
Royal Mail PLC		21,399		140,038
RSA Insurance Group PLC		69,096		434,350
SABMiller PLC		52,114		3,125,817
Sage Group PLC		52,356		465,706
Schroders PLC		5,347		234,537
Seadrill, Ltd. (a) (b)		9,200		31,753
Segro PLC		35,073		221,974
Serco Group PLC (a) (b)		84,634		117,881
Severn Trent PLC		5,891		189,023
Sky PLC		62,408		1,022,853
Smith & Nephew PLC		44,736		796,512
Smiths Group PLC		46,047		637,626
Sports Direct International PLC (b)		7,333		62,363
SSE PLC		64,255		1,447,099
St James’s Place PLC		24,463		363,445
Standard Chartered PLC		135,927		1,129,333
Standard Life PLC		158,204		908,690

76

SPDR S&P World ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
TalkTalk Telecom Group PLC (a)		20,331	$	65,146
Tate & Lyle PLC		42,582		375,942
Taylor Wimpey PLC		115,150		344,701
Telecom Plus PLC (a)		2,935		46,330
Tesco PLC (b)		444,009		978,365
Thomas Cook Group PLC (b)		50,120		89,459
Travis Perkins PLC		7,480		217,519
Trinity Mirror PLC		22,083		54,030
Tullow Oil PLC (b)		57,772		141,094
Unilever NV		93,539		4,075,126
Unilever PLC		68,563		2,957,375
United Utilities Group PLC		33,214		457,966
Victrex PLC		4,447		118,242
Vodafone Group PLC		1,344,630		4,379,889
Weir Group PLC		5,188		76,466
Whitbread PLC		8,826		572,510
William Hill PLC		67,275		392,660
Wm Morrison Supermarkets PLC (a)		184,375		402,734
Workspace Group PLC		11,027		155,782
WPP PLC		62,727		1,445,046
Xaar PLC		8,305		51,411
				123,161,129
UNITED STATES — 0.6%
Argonaut Gold, Inc. (b)		16,466		14,106
Carnival PLC		14,977		853,404
Fleetmatics Group PLC (a) (b)		2,512		127,584
Flextronics International, Ltd. (b)		64,480		722,821
ICON PLC (a) (b)		2,869		222,921
Mobileye NV (b)		6,456		272,960
QIAGEN NV (b)		11,327		309,028
REC Silicon ASA (a) (b)		141,907		28,746
Stratasys, Ltd. (a) (b)		2,191		51,445
Tahoe Resources, Inc.		6,740		58,079
Thomson Reuters Corp.		19,948		752,627
Valeant Pharmaceuticals International, Inc. (b)		15,844		1,603,220
				5,016,941
TOTAL COMMON STOCKS (Cost $828,551,678)				798,747,831
RIGHTS — 0.0% (d)
ITALY — 0.0% (d)
UBI Banca (expiring 1/12/16) (b)		38,783		1,877
SINGAPORE — 0.0% (d)
Ascendas Real Estate Investment Trust (expiring 1/13/16) (b)		3,615		158
SOUTH KOREA — 0.0% (d)
BNK Financial Group, Inc. (expiring 1/14/16) (b)		2,554		2,897
Samsung Engineering Co., Ltd. (expiring 2/12/16) (b)		4,559		25,039
				27,936
SPAIN — 0.0% (d)
Faes Farma SA (expiring 1/4/16) (b)		11,926		1,088
Repsol SA (expiring 1/14/16) (b)		58,496		29,167
				30,255
TOTAL RIGHTS (Cost $72,387)				60,226
WARRANTS — 0.0% (d)
FRANCE — 0.0% (d)
Peugeot SA (expiring 4/29/17) (b) (Cost $15,679)		13,373		49,973
SHORT-TERM INVESTMENTS — 5.4%
UNITED STATES — 5.4%
State Street Navigator Securities Lending Prime Portfolio (f) (g)		41,867,070		41,867,070
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (g) (h)		977,090		977,090
TOTAL SHORT-TERM INVESTMENTS (Cost $42,844,160)				42,844,160
TOTAL INVESTMENTS — 105.0% (Cost $871,483,904)				841,702,190
LIABILITIES IN EXCESS OF OTHER ASSETS — (5.0)%				(40,097,967	)
NET ASSETS — 100.0%			$	801,604,223

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Amount shown represents less than 0.05% of net assets.

(e) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.1% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(f) Investment of cash collateral for securities loaned

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(h) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

REIT =Real Estate Investment Trust

77

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 6.9%
360 Capital Industrial Fund		36,731	$	67,344
Abacus Property Group		135,649		315,813
Aconex, Ltd. (a)		113,735		430,289
Acrux, Ltd. (b)		55,184		30,112
AET&D Holdings NO. 1 Pty, Ltd. (a) (b)		110,316		—
Ainsworth Game Technology, Ltd.		64,324		107,170
ALE Property Group		75,538		211,037
ALS, Ltd. (b)		154,697		424,313
APN News & Media, Ltd. (a)		270,535		103,335
ARB Corp., Ltd.		16,068		188,681
Ardent Leisure Group		239,693		394,118
Arrium, Ltd. (a) (b)		1,834,599		77,416
Asaleo Care, Ltd.		187,536		217,625
Aspen Group		215,896		190,061
Astro Japan Property Group		32,303		118,920
Atlas Iron, Ltd. (a)		4,286		58
Ausdrill, Ltd.		567		105
Austal, Ltd.		149,902		171,226
Austbrokers Holdings, Ltd.		26,452		173,976
Australian Agricultural Co., Ltd. (a) (b)		181,661		177,765
Australian Pharmaceutical Industries, Ltd.		71,280		100,089
Automotive Holdings Group, Ltd.		65,592		215,701
Aveo Group		180,245		413,082
AWE, Ltd. (a) (b)		284,225		103,394
BC Iron, Ltd. (a) (b)		245		19
Beach Energy, Ltd. (b)		1,017,019		362,567
Beadell Resources, Ltd.		3,915		399
Bega Cheese, Ltd. (b)		55,086		296,576
Billabong International, Ltd. (a) (b)		61,918		110,369
Blackmores, Ltd.		3,693		585,678
BlueScope Steel, Ltd.		201,035		647,945
Bradken, Ltd. (a)		88,447		31,210
Breville Group, Ltd. (b)		25,255		137,256
Brickworks, Ltd.		16,416		187,871
Broadspectrum, Ltd. (a)		315,138		320,990
Brookside Energy, Ltd. (a)		74,347		433
BT Investment Management, Ltd.		73,304		685,854
Burson Group, Ltd.		96,365		294,463
Buru Energy, Ltd. (a)		833		145
BWP Trust		160,139		368,169
Cabcharge Australia, Ltd. (b)		58,461		126,749
Cardno, Ltd. (b)		50,165		42,337
carsales.com, Ltd.		86,177		732,314
Cash Converters International, Ltd.		29,565		11,293
Central Petroleum, Ltd. (a)		1,512		160
Charter Hall Group		119,048		393,225
Charter Hall Retail REIT		220,944		670,318
Civmec, Ltd. (b)		410,000		117,048
Collins Foods, Ltd.		32,882		110,047
Cooper Energy, Ltd. (a)		1,253		146
Corporate Travel Management, Ltd. (b)		47,962		458,168
Cover-More Group, Ltd. (b)		139,304		223,985
Credit Corp. Group, Ltd.		8,679		65,670
Cromwell Property Group		458,642		350,369
CSG, Ltd.		83,653		109,551
CSR, Ltd.		320,334		673,541
CuDeco, Ltd. (a) (b)		26,238		15,820
Data#3, Ltd.		539		416
Decmil Group, Ltd.		32,565		24,759
Domino’s Pizza Enterprises, Ltd.		308		12,941
Downer EDI, Ltd.		224,912		589,085
Drillsearch Energy, Ltd. (a)		145,281		65,005
DuluxGroup, Ltd.		78,128		377,999
Emeco Holdings, Ltd. (a)		2,445		73
Energy World Corp., Ltd. (a) (b)		537,219		89,896
ERM Power, Ltd.		40,015		45,562
Event Hospitality &Entertainment, Ltd.		50,368		603,181
Evolution Mining, Ltd.		377,704		381,970
Fairfax Media, Ltd.		1,008,264		674,877
Fleetwood Corp., Ltd. (a)		2,403		2,185
FlexiGroup, Ltd.		106,634		234,296
Folkestone Education Trust		119,010		195,684
G8 Education, Ltd. (b)		159,333		413,844
GDI Property Group		208,602		129,762
Greencross, Ltd. (b)		49,300		240,317
Greenland Minerals & Energy, Ltd. (a)		6,562		134
GUD Holdings, Ltd.		43,742		270,190
GWA Group, Ltd. (a) (b)		71,023		102,312
Hills, Ltd.		66,496		16,449
Horizon Oil, Ltd. (a)		4,174		243
Hotel Property Investments		80,201		155,212
Icon Energy, Ltd. (a)		1,738		42
Imdex, Ltd. (a)		770		112
Independence Group NL		246,048		454,691
Industria REIT (b)		95,123		148,102
Infigen Energy (a)		920,156		294,562
Ingenia Communities Group		54,832		118,482
Intrepid Mines, Ltd. (a)		2,086		182
Investa Office Fund		189,752		552,216
InvoCare, Ltd. (b)		216,680		1,893,323
IOOF Holdings, Ltd. (b)		100,711		697,552
iProperty Group, Ltd. (a)		54,833		157,580
IRESS, Ltd. (b)		51,780		376,725
iSelect, Ltd. (a)		157,110		129,165
iSentia Group, Ltd.		91,380		321,115
Jacana Minerals, Ltd. (a) (b)		12,051		—
Japara Healthcare, Ltd. (b)		124,819		290,599
JB Hi-Fi, Ltd. (b)		78,330		1,112,425
Karoon Gas Australia, Ltd. (a)		126,739		163,210
Kingsgate Consolidated, Ltd. (a)		107,564		28,956
Liquefied Natural Gas, Ltd. (a) (b)		228,236		132,842
Lynas Corp., Ltd. (a)		769,055		55,393
M2 Group, Ltd. (b)		87,007		724,174
MACA, Ltd.		28,542		15,159
Macquarie Atlas Roads Group		182,444		540,240
Mantra Group, Ltd.		139,531		512,655
Mayne Pharma Group, Ltd. (a)		318,248		326,473
McMillan Shakespeare, Ltd.		17,910		173,305
Medusa Mining, Ltd. (a)		97,831		25,624
Melbourne IT, Ltd.		546		850
Mesoblast, Ltd. (a) (b)		111,063		149,487
Metals X, Ltd.		103,309		76,666
Metcash, Ltd. (b)		299,226		351,589
Mincor Resources NL		686		110
Mineral Deposits, Ltd. (a)		86		13
Mineral Resources, Ltd. (b)		82,498		240,686

78

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
MMA Offshore, Ltd.		102,772	$	19,067
Monadelphous Group, Ltd. (b)		71,648		342,478
Mount Gibson Iron, Ltd. (a) (b)		505,827		66,243
Myer Holdings, Ltd. (b)		430,747		374,501
Navitas, Ltd. (b)		139,424		473,715
New South Resources, Ltd. (a)		152,253		170,588
NewSat, Ltd. (a) (b)		237,780		—
NEXTDC, Ltd. (a)		60,074		104,896
nib holdings, Ltd.		209,362		534,648
Nine Entertainment Co. Holdings, Ltd. (b)		229,337		317,857
Northern Star Resources, Ltd.		301,494		609,798
NRW Holdings, Ltd. (a)		490		31
Nufarm, Ltd.		118,437		720,371
OceanaGold Corp.		277,414		527,228
OM Holdings, Ltd. (a)		1,241		90
Orocobre, Ltd. (a) (b)		45,390		75,954
Orora, Ltd.		496,534		812,820
OZ Minerals, Ltd.		108,474		319,627
OzForex Group, Ltd. (b)		121,886		290,864
Pacific Brands, Ltd. (a)		1,024,209		588,679
Pact Group Holdings, Ltd.		13,112		47,984
Paladin Energy, Ltd. (a) (b)		760,832		132,850
Peet, Ltd.		36,835		27,603
Perpetual, Ltd.		18,624		632,102
Perseus Mining, Ltd. (a)		270,413		63,940
Platinium Australia, Ltd. (a)		610,876		—
Premier Investments, Ltd.		39,862		411,823
Primary Health Care, Ltd. (b)		168,580		287,002
Programmed Maintenance Services, Ltd.		254,637		457,595
Qube Holdings, Ltd. (b)		299,029		522,141
RCR Tomlinson, Ltd.		48,257		76,890
Recall Holdings, Ltd.		144,433		730,321
Regis Resources, Ltd. (b)		143,177		241,671
Reject Shop, Ltd.		19,353		153,475
Resolute Mining, Ltd. (a)		348,796		63,442
Retail Food Group, Ltd.		74,122		249,684
Ridley Corp., Ltd.		52,260		57,793
S2 Resources, Ltd. (a)		67,119		7,813
SAI Global, Ltd.		197,170		601,060
Sandfire Resources NL		54,721		224,143
Saracen Mineral Holdings, Ltd. (a)		261,593		116,096
Select Harvests, Ltd.		30,891		191,035
Senex Energy, Ltd. (a)		577,516		58,824
Seven West Media, Ltd. (b)		460,773		259,807
Shopping Centres Australasia Property Group		272,525		422,327
Sigma Pharmaceuticals, Ltd.		1,303,584		820,386
Silver Chef, Ltd.		10,039		66,100
Silver Lake Resources, Ltd. (a)		1,372		180
Sino Gas & Energy Holdings, Ltd. (a)		629,361		35,716
Sirtex Medical, Ltd.		32,073		934,555
Slater & Gordon, Ltd. (b)		150,946		90,602
Southern Cross Media Group, Ltd.		480,384		398,434
Spotless Group Holdings, Ltd. (b)		296,293		232,813
St Barbara, Ltd. (a)		264,838		274,573
Starpharma Holdings, Ltd. (a)		133,670		72,939
Steadfast Group, Ltd.		235,615		267,418
Strandline Resources, Ltd. (a) (b)		49,625		253
STW Communications Group, Ltd.		624,873		363,701
Sundance Energy Australia, Ltd. (a)		185,891		22,992
Sundance Resources, Ltd. (a)		11,939		104
Sunland Group, Ltd.		27,791		32,755
Super Retail Group, Ltd. (b)		51,822		430,192
Syrah Resources, Ltd. (a)		48,862		138,643
Tap Oil, Ltd. (a)		728		98
Tassal Group, Ltd.		40,785		139,464
Technology One, Ltd. (b)		124,307		448,580
Ten Network Holdings, Ltd. (a) (b)		576,685		71,326
TFS Corp., Ltd. (b)		144,407		166,000
Tiger Resources, Ltd. (a)		2,452		89
Tox Free Solutions, Ltd.		30,879		62,905
Transpacific Industries Group, Ltd. (b)		709,315		407,689
UGL, Ltd. (a) (b)		76,386		135,046
UXC, Ltd.		74,109		65,510
Veda Group, Ltd.		278,691		567,733
Village Roadshow, Ltd.		7,437		40,148
Virgin Australia Holdings, Ltd. (a)		504,245		166,923
Virtus Health, Ltd.		16,282		76,999
Vocus Communications, Ltd. (b)		123,576		676,106
Webjet, Ltd.		56,961		227,931
Western Areas, Ltd.		111,419		181,581
Whitehaven Coal, Ltd. (a) (b)		203,948		103,868
WorleyParsons, Ltd.		94,149		317,146
				47,477,386
AUSTRIA — 0.4%
CA Immobilien Anlagen AG (a)		22,155		405,047
Conwert Immobilien Invest SE (a)		25,416		387,636
DO & Co. AG		4,283		454,881
Flughafen Wien AG		585		55,669
Lenzing AG		2,850		215,324
POLYTEC Holding AG		3,355		27,917
Porr AG		7,692		233,545
RHI AG (b)		12,663		247,811
Schoeller-Bleckmann Oilfield Equipment AG (b)		4,749		260,057
Semperit AG Holding		5,080		171,622
Zumtobel Group AG		22,281		563,466
				3,022,975
BELGIUM — 1.3%
Ablynx NV (a) (b)		31,807		549,549
Aedifica SA		5,929		390,047
AGFA Gevaert NV (a) (b)		42,353		—
AGFA-Gevaert NV (a)		194,843		1,109,088
Barco NV		17,270		1,155,641
Befimmo SA		2,689		160,658
Bekaert SA (b)		4,605		141,993
BHF Kleinwort Benson Group (a)		120,443		747,735
Deceuninck NV		21,204		55,972
Econocom Group SA (b)		23,886		221,746
EVS Broadcast Equipment SA (b)		15,302		482,054
Fagron (b)		15,050		115,423
Ion Beam Applications		11,079		407,991
Kinepolis Group NV		3,337		150,074
Lotus Bakeries		178		338,382

79

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Melexis NV		10,126	$	551,974
Mobistar SA (a)		21,463		520,630
Nyrstar NV (a) (b)		217,002		376,460
Rezidor Hotel Group AB		49,249		182,261
Tessenderlo Chemie NV (a) (c)		37,610		1,123,533
Tessenderlo Chemie NV (a) (c)		4,451		—
ThromboGenics NV (a) (b)		16,038		62,719
Warehouses De Pauw CVA		3,694		325,999
				9,169,929
CANADA — 8.1%
Advantage Oil & Gas, Ltd. (a)		131,303		664,502
Aecon Group, Inc.		11,255		124,695
Africa Oil Corp. (a) (b)		149,688		216,596
AG Growth International, Inc. (b)		6,273		150,153
AGF Management, Ltd. Class B (b)		11,245		42,095
AGT Food & Ingredients, Inc.		10,639		260,327
Aimia, Inc.		59,391		402,325
Alamos Gold, Inc. Class A		139,717		457,643
Alaris Royalty Corp. (b)		13,427		227,150
Algonquin Power & Utilities Corp.		81,274		638,326
Altius Minerals Corp. (b)		3,271		23,854
Altus Group, Ltd. (b)		9,322		130,123
Arbutus Biopharma Corp. (a) (c)		357		1,589
Arbutus Biopharma Corp. (a) (c)		11,948		53,169
Artis Real Estate Investment Trust		16,783		154,649
Asanko Gold, Inc. (a) (b)		53,651		78,404
Atrium Mortgage Investment Corp.		34,343		281,844
ATS Automation Tooling Systems, Inc. (a)		33,073		270,946
AutoCanada, Inc. (b)		8,859		154,017
Avigilon Corp. (a) (b)		15,131		149,229
B2Gold Corp. (a)		383,408		386,417
Badger Daylighting, Ltd. (b)		14,897		261,885
Ballard Power Systems, Inc. (a) (b)		70,333		108,859
Bankers Petroleum, Ltd. (a)		150,018		110,156
Baytex Energy Corp. (b)		92,502		298,329
Bellatrix Exploration, Ltd. (a) (b)		94,657		111,754
Birchcliff Energy, Ltd. (a)		62,252		181,051
Bird Construction, Inc.		18,958		177,420
Black Diamond Group, Ltd. (b)		12,030		62,874
BlackPearl Resources, Inc. (a)		165,825		91,919
Bombardier, Inc. Class B		777,188		749,717
Bonavista Energy Corp. (b)		92,295		120,925
Bonterra Energy Corp.		9,644		119,413
Boulder Energy, Ltd. (a)		14,575		17,522
Boyd Group Income Fund		1,515		72,091
BRP, Inc. (a)		14,938		213,784
Calfrac Well Services, Ltd. (b)		40,572		66,885
Callidus Capital Corp. (b)		18,349		116,242
Canaccord Genuity Group, Inc.		47,447		174,540
Canacol Energy, Ltd. (a) (b)		40,055		79,874
Canadian Energy Services & Technology Corp. (b)		83,050		231,973
Canadian Solar, Inc. (a) (b)		16,847		487,889
Canadian Western Bank (b)		18,646		313,832
Canam Group, Inc.		3,693		36,927
Canexus Corp. (b)		89,605		87,083
Canyon Services Group, Inc.		25,378		74,356
Capital Power Corp. (b)		16,997		217,433
Capstone Infrastructure Corp.		21,925		57,294
Capstone Mining Corp. (a)		204,513		64,780
Cardinal Energy, Ltd. (b)		44,904		283,499
Celestica, Inc. (a)		107,834		1,187,719
Centerra Gold, Inc.		74,018		351,147
Chartwell Retirement Residences		12,490		114,191
Chinook Energy, Inc. (a) (b)		120,764		50,423
Cogeco Cable, Inc.		5,600		249,019
Colliers International Group, Inc.		35,723		1,587,489
Colossus Minerals, Inc. (a)		10		—
Colossus Minerals, Inc. (a) (b)		380		—
Computer Modelling Group, Ltd.		40,825		263,918
Continental Gold, Inc. (a)		56,199		63,518
Corus Entertainment, Inc. Class B (b)		86,425		671,939
Cott Corp.		74,376		815,989
Crew Energy, Inc. (a) (b)		68,187		198,803
Delphi Energy Corp. (a) (b)		65,589		42,023
Denison Mines Corp. (a) (b)		273,542		137,844
Descartes Systems Group, Inc. (a)		41,133		824,377
Detour Gold Corp. (a) (b)		68,524		710,842
DHX Media, Ltd.		31,871		194,562
DirectCash Payments, Inc.		2,218		19,863
DIRTT Environmental Solutions (a)		27,869		139,235
Dominion Diamond Corp.		45,244		460,550
Dorel Industries, Inc. Class B		14,590		329,065
DREAM Unlimited Corp. Class A (a) (b)		81,354		425,775
Dundee Corp. Class A (a) (b)		61,487		201,843
Dundee Precious Metals, Inc. (a) (b)		57,768		53,231
Enbridge Income Fund Holdings, Inc. (b)		17,883		360,853
Endeavour Mining Corp. (a) (b)		22,545		123,834
Endeavour Silver Corp. (a)		60,562		86,324
EnerCare, Inc. (b)		27,025		310,502
Enerflex, Ltd. (b)		41,000		392,261
Enerplus Corp. (b)		83,229		284,600
Enghouse Systems, Ltd.		11,312		605,381
Ensign Energy Services, Inc.		55,110		292,788
Entertainment One, Ltd.		141,220		347,601
Epsilon Energy, Ltd. (a)		16,966		28,091
Equitable Group, Inc. (b)		6,480		240,242
Essential Energy Services Trust (a)		38,518		15,251
Exchange Income Corp.		12,562		257,823
Extendicare, Inc. (b)		45,056		313,001
Firm Capital Mortgage Investment Corp. (b)		30,571		278,618
First Majestic Silver Corp. (a) (b)		57,803		187,669
FirstService Corp.		31,469		1,266,372
Fortuna Silver Mines, Inc. (a)		75,358		168,716
Freehold Royalties, Ltd. (b)		23,927		187,062
GASFRAC Energy Services, Inc. (a)		21,904		—
Gibson Energy, Inc. (b)		38,676		384,783
Gluskin Sheff + Associates, Inc.		12,638		189,511
GMP Capital, Inc. (b)		100,660		340,582
Gran Tierra Energy, Inc. (a)		150,139		325,332
Granite Oil Corp.		9,708		56,469
Granite Real Estate Investment Trust		24,294		663,883
Great Canadian Gaming Corp. (a)		28,648		319,044
Guardian Capital Group, Ltd. Class A		142,486		1,867,879
Guyana Goldfields, Inc. (a)		77,865		172,647
Heroux-Devtek, Inc. (a)		4,759		44,024
High Liner Foods, Inc. (b)		5,539		62,005

80

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Home Capital Group, Inc. (b)		22,000	$	426,348
Horizon North Logistics, Inc. (b)		73,230		119,142
HudBay Minerals, Inc.		87,041		332,725
IAMGOLD Corp. (a) (b)		166,483		236,104
Imperial Metals Corp. (a)		23,237		111,409
Innergex Renewable Energy, Inc. (b)		56,695		462,425
Interfor Corp. (a)		27,452		277,465
InterRent Real Estate Investment Trust		8,005		37,803
Intertain Group, Ltd. (a) (b)		40,731		292,046
Intertape Polymer Group, Inc.		18,295		246,155
Ivanhoe Mines, Ltd. Class A (a)		169,635		74,492
Jean Coutu Group PJC, Inc. Class A		8,859		114,221
Just Energy Group, Inc. (b)		78,191		556,135
Kelso Technologies, Inc.		19,858		21,443
Kelt Exploration, Ltd. (a) (b)		58,167		177,545
Kirkland Lake Gold, Inc. (a) (b)		41,794		145,622
Knight Therapeutics, Inc. (a)		22,185		123,294
KP Tissue, Inc.		6,442		54,027
Labrador Iron Ore Royalty Corp. (b)		25,083		173,167
Lake Shore Gold Corp. (a) (b)		244,815		197,389
Laurentian Bank of Canada (b)		3,372		117,247
Lightstream Resources, Ltd. (b)		70,030		13,108
Liquor Stores N.A., Ltd. (b)		16,016		96,504
Lucara Diamond Corp.		111,519		180,633
MAG Silver Corp. (a)		51,422		361,668
Major Drilling Group International, Inc. (b)		98,846		311,673
Mart Resources, Inc. (a)		209,924		14,357
Martinrea International, Inc.		67,033		507,175
MCAN Mortgage Corp. (b)		26,886		234,969
Medical Facilities Corp. (b)		16,170		167,509
MEG Energy Corp. (a)		66,027		381,208
Morguard Corp.		1,788		171,193
Morneau Shepell, Inc.		19,094		199,036
MTY Food Group, Inc. (b)		9,550		222,955
Mullen Group, Ltd. (b)		14,800		149,268
Nevsun Resources, Ltd.		107,132		289,212
New Gold, Inc. (a)		170,065		394,219
Newalta Corp.		20,896		52,499
Norbord, Inc. (b)		12,434		241,233
North American Palladium, Ltd. (a)		242		697
North West Co., Inc.		28,373		585,598
Novadaq Technologies, Inc. (a) (b)		22,756		289,911
Novagold Resources, Inc. (a) (b)		114,753		479,962
NuVista Energy, Ltd. (a) (b)		101,221		296,573
Nymox Pharmaceutical Corp. (a)		42		138
OneREIT		9,087		21,718
Osisko Gold Royalties, Ltd.		34,827		342,729
Painted Pony Petroleum, Ltd. (a)		48,538		121,598
Pan American Silver Corp.		44,395		287,955
Paramount Resources, Ltd. Class A (a) (b)		27,193		119,805
Parex Resources, Inc. (a)		58,981		431,392
Parkland Fuel Corp. (b)		44,845		751,883
Pason Systems, Inc.		15,555		217,127
Pengrowth Energy Corp.		231,150		169,731
PHX Energy Services Corp.		9,760		16,582
Pizza Pizza Royalty Corp. (b)		22,041		216,586
Poseidon Concepts Corp. (a)		43,064		—
Precision Drilling Corp.		139,060		547,591
Premier Gold Mines, Ltd. (a) (b)		94,586		179,762
Premium Brands Holdings Corp.		5,419		148,982
Pretium Resources, Inc. (a) (b)		41,724		209,056
Primero Mining Corp. (a)		55,168		123,911
ProMetic Life Sciences, Inc. (a) (c)		3,753		9,175
ProMetic Life Sciences, Inc. (a) (b) (c)		235,770		570,288
Pulse Seismic, Inc. (b)		19,861		31,741
Pure Technologies, Ltd.		32,793		110,246
Quebecor, Inc. Class B (b)		18,025		439,628
Raging River Exploration, Inc. (a) (b)		83,876		505,393
Redknee Solutions, Inc. (a) (b)		31,807		68,006
Reitmans Canada, Ltd. Class A		26,688		78,195
Richelieu Hardware, Ltd.		8,369		408,840
RMP Energy, Inc. (a) (b)		54,003		59,481
Rogers Sugar, Inc. (b)		9,454		28,857
RONA, Inc.		56,304		500,579
Rubicon Minerals Corp. (a)		186,764		16,134
Russel Metals, Inc.		16,583		191,843
Sandstorm Gold, Ltd. (a) (b)		38,160		98,896
Sandvine Corp. (a) (b)		36,668		93,445
Savanna Energy Services Corp. (b)		109,081		96,587
Seabridge Gold, Inc. (a) (b)		23,451		193,301
Sears Canada, Inc. (a) (b)		5,016		25,493
Secure Energy Services, Inc. (b)		60,072		361,530
SEMAFO, Inc. (a)		137,164		346,588
ShawCor, Ltd.		19,402		392,063
Sherritt International Corp. (b)		157,544		82,793
Sierra Wireless, Inc. (a) (b)		16,669		261,237
Silver Standard Resources, Inc. (a) (b)		45,719		235,655
Silvercorp Metals, Inc. (b)		102,370		48,639
SilverCrest Metals, Inc. (a)		4,169		480
Sirius XM Canada Holdings, Inc. (b)		41,969		125,686
Solium Capital, Inc. (a) (b)		31,333		157,894
Southern Pacific Resource Corp. (a)		281,142		—
Spartan Energy Corp. (a) (b)		123,292		209,466
Stuart Olson, Inc.		5,363		21,968
SunOpta, Inc. (a)		31,210		213,476
Sunshine Oilsands, Ltd. (a) (b)		1,723,500		140,101
Superior Plus Corp. (b)		58,844		455,807
Surge Energy, Inc. (b)		110,169		167,343
Taseko Mines, Ltd. (a)		26,083		9,107
Tembec, Inc. (a)		20,999		13,152
Teranga Gold Corp. (a)		82,011		28,929
Timmins Gold Corp. (a)		46,868		6,411
TORC Oil & Gas, Ltd. (b)		32,473		120,392
Torex Gold Resources, Inc. (a)		379,714		344,424
Toromont Industries, Ltd. (b)		25,911		588,505
Torstar Corp. Class B (b)		20,178		40,382
Total Energy Services, Inc.		11,013		107,506
TransAlta Corp.		108,773		384,476
Transcontinental, Inc. Class A (b)		40,109		498,367
TransForce, Inc.		7,931		134,800
TransGlobe Energy Corp. (b)		51,047		92,238
Trevali Mining Corp. (a)		51,570		18,934
Tricon Capital Group, Inc. (b)		36,927		240,846
Trinidad Drilling, Ltd. (b)		97,249		148,418
Twin Butte Energy, Ltd.		90,551		5,867
Uni-Select, Inc.		29,775		1,468,494
Wajax Corp. (b)		5,437		65,717
Western Energy Services Corp.		17,519		48,934
Western Forest Products, Inc.		184,295		299,839
Westport Innovations, Inc. (a) (b)		23,673		47,377

81

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Westshore Terminals Investment Corp.		7,529	$	63,144
Whistler Blackcomb Holdings, Inc.		19,337		347,317
Wi-LAN, Inc.		87,040		115,920
Winpak, Ltd.		11,433		374,982
Yamana Gold, Inc.		343,100		634,776
Yellow Pages, Ltd. (a) (b)		11,808		129,802
				56,094,692
CHINA — 0.2%
APT Satellite Holdings, Ltd.		138,000		111,466
Beijing Properties Holdings, Ltd. (a) (b)		1,282,000		105,866
Beijing Tong Ren Tang Chinese Medicine Co., Ltd.		87,000		110,909
Bloomage BioTechnology Corp., Ltd.		62,500		154,836
China Everbright Water, Ltd. (a) (b)		157,800		68,408
China Gold International Resources Corp., Ltd. (a) (b)		123,402		184,779
China Merchants Land, Ltd. (b)		212,000		42,673
China New Town Development Co., Ltd. (a)		449,000		17,724
China Traditional Chinese Medicine Co., Ltd. (a)		6,554		4,431
Chong Hing Bank, Ltd.		57,000		118,852
Daphne International Holdings, Ltd. (a) (b)		566,000		94,940
Greenland Hong Kong Holdings, Ltd. (a)		191,000		74,427
HC International, Inc. (a)		168,000		101,448
Inspur International, Ltd. (b)		324,000		59,364
ISDN Holdings, Ltd.		1,834		265
Nam Tai Property, Inc. (b)		5,364		31,058
Sino Grandness Food Industry Group, Ltd. (a) (b)		182,000		46,826
				1,328,272
COLOMBIA — 0.0% (d)
Pacific Exploration and Production Corp. (b)		76,809		94,553
DENMARK — 1.4%
ALK-Abello A/S (b)		2,284		291,243
Amagerbanken A/S (a)		308,573		—
Ambu A/S Class B (b)		18,267		557,067
Bang & Olufsen A/S (a)		33,534		402,713
Bavarian Nordic A/S (a)		16,566		862,084
D/S Norden A/S (a)		14,960		265,891
FLSmidth & Co. A/S (b)		21,312		744,546
Forward Pharma A/S ADR (a)		2,588		49,172
IC Group A/S		25,985		953,189
Matas A/S		13,703		265,291
NKT Holding A/S		11,351		589,707
OW Bunker A/S (a)		9,828		—
PER Aarsleff A/S Class B		489		150,263
Rockwool International A/S Class B		2,037		287,323
Royal Unibrew A/S		15,584		635,401
Santa Fe Group A/S (a) (b)		36,393		346,989
Schouw & Co.		3,133		176,493
SimCorp A/S		38,509		2,174,953
Solar A/S Class B		1,443		91,162
Spar Nord Bank A/S		32,524		288,795
Torm A/S (a)		11,019		156,388
United International Enterprises		490		75,178
				9,363,848
FAEROE ISLANDS — 0.1%
Bakkafrost P/F		20,836		616,275
FINLAND — 1.2%
BasWare Oyj		4,382		177,650
Caverion Corp.		32,122		315,094
Cramo Oyj		15,444		320,605
Fiskars Oyj Abp		23,006		468,339
Kemira Oyj (b)		15,243		180,156
Konecranes Oyj (b)		19,099		475,112
Lassila & Tikanoja Oyj		71,941		1,416,069
Metsa Board Oyj		90,955		677,798
Olvi Oyj Class A		5,954		143,521
Oriola-KD Oyj Class B (a)		34,407		161,466
Outokumpu Oyj (a) (b)		109,351		324,529
Outotec Oyj (b)		56,621		209,125
PKC Group Oyj (b)		13,884		245,387
Poyry Oyj (a) (b)		87,782		360,452
Raisio Oyj Class V		34,420		158,536
Ramirent Oyj		33,519		234,855
Sanoma Oyj (b)		14,922		63,380
Sponda Oyj		50,216		214,053
Stockmann Oyj Abp (a) (b)		10,421		70,752
Talvivaara Mining Co. PLC (a) (b)		572,382		—
Tieto Oyj		28,862		775,041
Tikkurila Oyj		9,753		170,680
Uponor Oyj		14,901		220,143
Valmet Oyj		50,787		491,012
YIT Oyj (b)		47,341		269,218
				8,142,973
FRANCE — 2.2%
AB Science SA (a) (b)		4,470		59,386
Albioma SA		11,238		182,507
Alten SA		14,534		843,252
Altran Technologies SA		53,996		723,813
ANF Immobilier		3,346		75,603
Assystem		2,288		59,726
Beneteau SA		12,724		178,443
Bourbon SA (b)		7,630		123,913
Cellectis SA (a)		14,338		434,864
CGG SA (a) (b)		84,355		245,581
Coface SA (a)		33,931		344,118
DBV Technologies SA (a) (b)		6,652		480,028
Elis SA		26,750		443,143
Etablissements Maurel et Prom (a) (b)		61,443		198,235
Faiveley Transport SA		2,263		234,718
Flamel Technologies SA ADR (a)		20,626		251,843
Fonciere de Paris SIIC		2,161		260,055
GameLoft SE (a) (b)		43,472		286,175
Gaztransport Et Technigaz SA		6,567		277,966
Genfit (a)		8,892		314,413
GL Events		28,001		506,451
Groupe Fnac SA (a)		4,229		249,452
Haulotte Group SA		3,111		46,840
Innate Pharma SA (a)		25,819		379,759
Interparfums SA		1,821		44,904
IPSOS		14,500		334,244
Jacquet Metal Service		34,816		540,835
LISI		7,525		203,952

82

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Marie Brizard Wine & Spirits SA (a)		13,977	$	306,701
Mersen		31,359		579,110
Montupet		2,809		217,871
Naturex (a)		3,445		267,201
Neopost SA		11,291		275,604
Nexans SA (a)		12,075		442,045
NextRadioTV		4,117		164,938
Nicox (a) (b)		2,773		27,484
Parrot SA (a) (b)		3,047		89,336
Pierre & Vacances SA (a)		1,038		33,207
Rallye SA (b)		9,844		153,452
Saft Groupe SA		19,958		609,002
Sequana SA (a)		25,690		113,582
SOITEC (a) (b)		124,021		86,223
Solocal Group (a) (b)		20,996		157,375
Tarkett SA		6,800		212,630
Trigano SA		3,167		193,690
UBISOFT Entertainment (a)		63,381		1,836,250
Vallourec SA (b)		42,924		401,004
Valneva SE (a) (b)		12,547		51,793
Vetoquinol SA		2,449		104,818
Virbac SA		1,838		438,857
				15,086,392
GERMANY — 3.2%
ADO Properties SA (a) (e)		4,977		143,273
ADVA Optical Networking SE (a)		11,959		144,461
Air Berlin PLC (a) (b)		99,710		99,108
AIXTRON SE (a) (b)		47,051		210,988
alstria office REIT-AG (a) (b)		47,285		632,569
Amadeus Fire AG		3,112		253,509
AURELIUS SE & Co. KGaA		9,919		518,493
BayWa AG (b)		2,271		70,062
Bechtle AG		5,820		556,739
Bertrandt AG		824		99,581
Bilfinger SE (b)		16,720		789,543
Biotest AG Preference Shares (b)		10,556		176,592
Borussia Dortmund GmbH & Co. KGaA (b)		39,147		170,654
BRAAS Monier Building Group SA		8,542		246,408
CANCOM SE		8,694		412,999
Cewe Stiftung & Co. KGaA		3,143		186,452
CompuGroup Medical AG (b)		8,305		304,934
Deutsche Pfandbriefbank AG (a) (e)		20,005		243,392
Deutz AG		35,221		141,220
DIC Asset AG		75,666		766,149
Draegerwerk AG & Co. KGaA		2,253		147,605
Draegerwerk AG & Co. KGaA Preference Shares		1,478		110,157
Elmos Semiconductor AG		10,011		173,999
ElringKlinger AG		8,264		210,964
Evotec AG (a)		49,099		222,412
GFK SE		4,359		146,293
Grammer AG		7,385		219,130
Hamborner REIT AG		35,032		365,863
Hamburger Hafen und Logistik AG		6,902		105,417
Hawesko Holding AG		2,685		120,971
Heidelberger Druckmaschinen AG (a) (b)		114,175		281,544
Hornbach Holding AG & Co. KGaA		2,530		168,336
Indus Holding AG		44,270		2,140,508
Isra Vision AG		515		35,956
Jenoptik AG		83,939		1,312,122
Kloeckner & Co. SE (b)		56,791		496,313
Koenig & Bauer AG (a)		8,580		306,643
Kontron AG (a) (b)		66,452		217,643
LPKF Laser & Electronics AG (b)		12,870		100,661
MLP AG		64,944		258,914
MorphoSys AG (a)		10,361		648,860
Nemetschek AG		10,524		526,168
Norma Group SE		12,344		685,885
PATRIZIA Immobilien AG (a)		50,393		1,478,032
Pfeiffer Vacuum Technology AG		2,131		216,559
QSC AG (b)		19,998		32,803
RIB Software AG (b)		16,437		201,767
SAF-Holland SA (b)		15,660		212,473
Salzgitter AG		8,947		220,867
Schaltbau Holding AG		2,436		134,958
SGL Carbon SE (a) (b)		17,512		246,066
Sixt SE (b)		10,706		548,816
SLM Solutions Group AG (a)		2,289		47,244
SMA Solar Technology AG (a)		3,526		198,103
STRATEC Biomedical AG		2,948		195,347
Suss Microtec AG (a)		4,151		37,630
TAG Immobilien AG (b)		52,529		656,216
Takkt AG		16,203		324,656
TLG Immobilien AG		21,621		407,028
Vossloh AG (a)		3,418		220,996
Wacker Neuson SE		9,595		148,268
Wincor Nixdorf AG		13,457		677,925
XING AG		1,647		305,406
Zeal Network SE		4,409		186,455
zooplus AG (a)		2,623		416,007
				22,283,112
GIBRALTAR — 0.1%
Bwin Party Digital Entertainment PLC		345,656		660,263
GREECE — 0.0% (d)
Fourlis Holdings SA (a)		150		489
TT Hellenic Postbank SA (a)		129,076		—
				489
HONG KONG — 4.0%
Allied Properties HK, Ltd. (b)		2,622,391		514,317
Cafe de Coral Holdings, Ltd.		182,000		534,248
Century Sunshine Group Holdings, Ltd.		827,698		83,302
China Cord Blood Corp. (a)		20,068		127,833
China Goldjoy Group, Ltd. (a)		2,168,000		290,926
China Household Holdings, Ltd. (a)		740,000		14,322
China Innovationpay Group, Ltd. (a)		2,424,000		129,799
China Innovative Finance Group, Ltd. (a) (b)		7,470,000		799,997
China LNG Group, Ltd. (b)		8,030,000		316,013
China LotSynergy Holdings, Ltd. (b)		4,640,000		218,525
China Ocean Resources Co., Ltd. (a) (b)		27,289		94,024
China Oceanwide Holdings, Ltd. (a)		502,000		67,364
China Regenerative Medicine International, Ltd. (a)		5,933,056		313,872
China Resources and Transportation Group, Ltd. (a) (b)		289,999		6,810

83

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
China Ruifeng Renewable Energy Holdings, Ltd. (a)		356,000	$	44,097
China Sandi Holdings, Ltd. (a)		103		7
China Smarter Energy Group Holdings, Ltd. (a) (b)		1,362,000		168,709
China Strategic Holdings, Ltd. (a)		8,960,761		252,053
China Water Industry Group, Ltd. (a) (b)		512,000		107,683
Chow Sang Sang Holdings International, Ltd.		249,939		411,504
CK Life Sciences Int’l Holdings, Inc. (b)		2,646,000		238,989
CST Mining Group, Ltd. (a)		14,468,000		169,879
Culturecom Holdings, Ltd. (a)		375,000		64,837
Dah Sing Financial Holdings, Ltd.		99,200		495,990
Digital Domain Holdings, Ltd. (a)		2,825,329		185,921
Emperor Entertainment Hotel, Ltd.		100,000		18,322
Emperor Watch & Jewellery, Ltd.		2,670,000		66,490
Enerchina Holdings, Ltd. (a)		2,301,000		133,604
Esprit Holdings, Ltd. (b)		936,969		1,034,877
EverChina International Holdings Co., Ltd. (a)		1,080,000		40,412
Extrawell Pharmaceutical Holdings, Ltd. (a)		1,440,000		68,747
Fairwood Holdings, Ltd.		152,500		480,120
FDG Electric Vehicles, Ltd. (a) (b)		7,327,493		453,823
Fortune Real Estate Investment Trust		458,000		471,583
G-Resources Group, Ltd.		13,232,400		314,157
Giordano International, Ltd.		1,364,000		638,868
Global Brands Group Holding, Ltd. (a)		2,686,000		509,464
Global Sources, Ltd. (a)		7,848		61,214
Goldin Properties Holdings, Ltd. (a)		3,820		4,406
Haier Healthwise Holdings, Ltd. (a) (b)		2,824,000		134,821
Hanison Construction Holdings, Ltd. (b)		4,000		790
Hao Tian Development Group, Ltd. (a)		966,000		58,582
Heng Tai Consumables Group, Ltd.		337,500		22,645
HengTen Networks Group, Ltd. (a)		5,176,000		387,358
HKBN, Ltd.		534,413		689,552
HKC Holdings, Ltd. (a)		1,373,000		29,231
HKR International, Ltd.		2,654,059		1,222,556
Honbridge Holdings, Ltd. (a) (b)		1,352,000		170,959
Hong Kong Television Network, Ltd. (a)		128,000		23,783
Hopewell Highway Infrastructure, Ltd. (b)		576,000		277,961
Huarong International Financial Holdings, Ltd. (a)		349,000		134,194
Hybrid Kinetic Group, Ltd. (a)		8,540,000		429,746
Imagi International Holdings, Ltd.(a)		5,712,000		79,598
International Housewares Retail Co., Ltd.		65,000		9,561
iOne Holdings, Ltd. (a)		1,320,000		42,239
K Wah International Holdings, Ltd. (b)		1,518,247		654,303
Kingston Financial Group, Ltd. (a)		5,049		2,143
Kingwell Group, Ltd. (a)		619,111		21,569
Kong Sun Holdings, Ltd. (a)		4,175,000		344,768
KuangChi Science, Ltd. (a) (b)		652,000		271,731
L & A International Holdings, Ltd. (a)		328,000		110,460
L’sea Resources International Holdings, Ltd. (a)		1,670,000		70,031
Landing International Development, Ltd. (a)		5,483,500		157,073
Le Saunda Holdings, Ltd.		110,000		25,264
Lee’s Pharmaceutical Holdings, Ltd.		216,000		270,343
Loudong General Nice Resources China Holdings, Ltd. (a) (b)		1,143,000		128,308
Louis XIII Holdings, Ltd. (a)		88,000		23,958
Luk Fook Holdings International, Ltd. (b)		190,000		403,037
Man Wah Holdings, Ltd.		297,200		349,731
Mason Financial Holdings, Ltd. (a) (b)		3,820,000		189,764
Mei Ah Entertainment Group, Ltd. (a)		1,840,000		187,558
Midland Holdings, Ltd. (a) (b)		777,790		322,149
New Focus Auto Tech Holdings, Ltd. (a)		728,000		63,875
Pacific Basin Shipping, Ltd. (b)		1,551,000		340,213
Pacific Textiles Holdings, Ltd.		2,135		3,295
PAX Global Technology, Ltd.		381,000		392,791
Peace Map Holding, Ltd. (a)		1,560,000		75,482
Peace Mark Holdings, Ltd. (a)		504,228		—
PetroAsian Energy Holdings, Ltd. (a)		2,332,000		61,985
Phoenix Satellite Television Holdings, Ltd.		1,028,000		241,410
Pico Far East Holdings, Ltd. (b)		202,000		54,734
Playmates Toys, Ltd.		272,000		68,788
Prosperity REIT		580,000		208,796
Road King Infrastructure, Ltd.		1,183,482		1,030,755
Shun Tak Holdings, Ltd.		1,276,749		481,037
Sincere Watch Hong Kong, Ltd. (a)		1,111,953		117,650
Sino Oil And Gas Holdings, Ltd. (a)		6,780,000		183,713
Sinolink Worldwide Holdings, Ltd. (a)		688,000		89,660
Skyway Securities Group, Ltd. (a)		1,710,000		44,128
SmarTone Telecommunications Holdings, Ltd. (b)		232,630		354,191
SMI Holdings Group, Ltd. (b)		3,027,419		359,377
Sparkle Roll Group, Ltd. (a)		7,457		635
Spring Real Estate Investment Trust (b)		253,000		98,913
Summit Ascent Holdings, Ltd. (a) (b)		564,000		243,789
Sun Hung Kai & Co., Ltd. (b)		337,000		221,763
SUNeVision Holdings, Ltd.		141,000		45,119
Sunlight Real Estate Investment Trust		162,000		80,058
Superb Summit International Group, Ltd. (a) (b)		2,435,000		—
TCC International Holdings, Ltd.		174,000		32,105
Television Broadcasts, Ltd.		174,730		720,325
Texhong Textile Group, Ltd.		220,500		166,723
Texwinca Holdings, Ltd.		758,850		794,084
Tongda Group Holdings, Ltd.		1,060,000		187,377
Town Health International Medical Group, Ltd. (b)		1,880,000		388,122
Trinity, Ltd. (b)		610,000		90,514
Truly International Holdings, Ltd. (b)		758,000		181,916
TSC Group Holdings, Ltd. (a)		204,000		38,693

84

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
United Photovoltaics Group, Ltd. (a) (b)		2,154,000	$	208,448
Value Partners Group, Ltd. (b)		416,000		486,308
Varitronix International, Ltd.		106,000		74,540
Vitasoy International Holdings, Ltd.		576,000		1,181,706
Viva China Holdings, Ltd. (a)		1,808,000		186,629
VST Holdings, Ltd.		122,000		33,057
Yanchang Petroleum International, Ltd. (a)		4,380,000		84,773
Yuexiu Real Estate Investment Trust		1,098,000		589,367
Yuxing InfoTech Investment Holdings, Ltd. (b)		356,000		119,430
Zhongyu Gas Holdings, Ltd. (a)		700		163
				27,619,311
INDIA — 0.1%
Ascendas India Trust		605,000		371,022
IRELAND — 0.8%
Amarin Corp. PLC ADR (a) (b)		65,550		123,890
C&C Group PLC		153,824		620,439
Cairn Homes PLC (a)		185,574		240,899
Dalata Hotel Group PLC (a)		79,272		473,622
FBD Holdings PLC		10,199		73,233
Fly Leasing, Ltd. ADR		10,317		140,827
Fyffes PLC		150,421		246,738
Green REIT PLC		312,298		540,424
Greencore Group PLC		175,087		914,309
Hibernia REIT PLC		222,356		340,096
IFG Group PLC		15,073		36,514
Irish Continental Group PLC		45,841		269,601
Irish Residential Properties REIT PLC		140,837		179,000
Kenmare Resources PLC (a)		1,241,795		8,419
Origin Enterprises PLC		26,004		213,274
Total Produce PLC		136,297		217,647
Trinity Biotech PLC ADR (b)		12,387		145,671
UDG Healthcare PLC		114,235		1,003,491
				5,788,094
ISRAEL — 1.4%
Africa Israel Investments, Ltd. (a)		33,436		15,665
Africa Israel Properties, Ltd.		2,523		26,702
Airport City, Ltd. (a)		31,255		281,057
Allot Communications, Ltd. (a)		10,585		61,235
Alony Hetz Properties & Investments, Ltd.		33,066		239,643
Caesarstone Sdot-Yam, Ltd. (a)		12,043		521,944
Cellcom Israel, Ltd. (a)		32,625		203,159
Compugen, Ltd. (a)		29,702		186,637
CyberArk Software, Ltd. (a)		6,436		290,521
Delta-Galil Industries, Ltd.		5,514		152,338
Electra, Ltd.		315		38,858
Evogene, Ltd. (a)		20,718		165,699
EZchip Semiconductor, Ltd. (a)		16,901		419,066
Gazit-Globe, Ltd.		20,881		186,107
Harel Insurance Investments & Financial Services, Ltd.		41,847		160,567
IDI Insurance Co., Ltd.		6,801		309,371
Israel Discount Bank, Ltd. Class A (a)		443,617		804,908
Ituran Location and Control, Ltd.		12,968		242,959
Jerusalem Oil Exploration (a)		5,474		214,540
Matrix IT, Ltd.		11,692		68,090
Mazor Robotics, Ltd. (a)		15,002		75,954
Melisron, Ltd.		8,570		274,210
Mellanox Technologies, Ltd. (a) (b)		15,186		639,938
Migdal Insurance & Financial Holding, Ltd.		248,170		180,624
Norstar Holdings, Inc.		6,801		110,989
Nova Measuring Instruments, Ltd. (a)		26,143		261,830
Oil Refineries, Ltd. (a)		507,227		200,750
Orbotech, Ltd. (a)		24,930		551,701
Partner Communications Co., Ltd. (a)		54,986		242,919
Paz Oil Co., Ltd.		3,199		503,069
Radware, Ltd. (a) (b)		26,606		408,136
Rami Levy Chain Stores Hashikma Marketing 2006, Ltd.		4,588		211,062
Reit 1, Ltd.		118,499		316,420
Sarine Technologies, Ltd.		109,500		118,095
Shikun & Binui, Ltd.		74,263		117,186
Shufersal, Ltd. (a)		58,540		181,590
SodaStream International, Ltd. (a) (b)		11,189		182,493
Strauss Group, Ltd.		18,978		282,642
Syneron Medical, Ltd. (a) (b)		10,039		77,401
Tower Semiconductor, Ltd. (a)		22,492		321,797
				9,847,872
ITALY — 1.5%
Amplifon SpA		189,538		1,646,131
Astaldi SpA (b)		94,408		575,849
Banca Carige SpA (a) (b)		122,363		167,749
Banca Popolare dell’Etruria e del Lazio SC (a) (b)		46,016		—
Beni Stabili SpA SIIQ (b)		359,439		272,735
Brunello Cucinelli SpA		4,294		76,126
Cairo Communication SpA (b)		4,071		20,210
Cerved Information Solutions SpA (a)		56,743		474,627
CIR-Compagnie Industriali Riunite SpA (a)		49,251		51,896
Credito Valtellinese SC (a)		400,277		474,390
Danieli & C Officine Meccaniche SpA		4,819		68,839
Ei Towers SpA		17,556		1,135,683
Esprinet SpA		43,804		404,942
Gruppo Editoriale L’Espresso SpA (a)		26,857		29,525
Immobiliare Grande Distribuzione SIIQ SpA		32,718		31,508
IMMSI SpA (a)		457,010		232,339
Industria Macchine Automatiche SpA (b)		6,927		361,115
Interpump Group SpA		101,917		1,585,402
Iren SpA		187,108		302,850
Italmobiliare SpA		13,715		445,468
Maire Tecnimont SpA (a) (b)		16,744		45,654
MARR SpA		5,016		103,965
OVS SpA (a) (e)		18,654		130,094
Piaggio & C SpA (b)		17,865		45,140
RCS MediaGroup SpA (a) (b)		85,252		57,464
Reply SpA		473		64,690
Safilo Group SpA (a) (b)		6,656		77,438
Salini Impregilo SpA		89,630		390,434
Societa Cattolica di Assicurazioni S.c.r.l.		14,262		113,717

85

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Yoox Net-A-Porter Group SpA (a)		27,848	$	1,045,182
				10,431,162
JAPAN — 34.0%
3-D Matrix, Ltd. (a)		8,300		69,894
A/S One Corp.		3,800		146,573
Access Co., Ltd. (a)		6,600		32,864
Accordia Golf Co., Ltd.		38,500		371,894
Achilles Corp.		31,000		40,201
Adastria Co., Ltd. (b)		17,410		984,147
ADEKA Corp.		41,800		601,834
Aderans Co., Ltd. (b)		18,100		125,787
Advanced Media, Inc. (a) (b)		3,900		22,467
Advantest Corp. (b)		37,742		317,510
Adways, Inc. (b)		8,100		42,219
AEON REIT Investment Corp.		375		444,844
Ahresty Corp.		8,100		48,817
Ai Holdings Corp.		20,600		527,437
Aica Kogyo Co., Ltd.		25,900		514,792
Aichi Steel Corp. (b)		32,000		151,627
Aiful Corp. (a) (b)		97,718		324,116
Ain Holdings, Inc.		15,400		742,508
Alpine Electronics, Inc.		21,700		342,380
Amano Corp.		30,600		418,955
Amiyaki Tei Co., Ltd.		1,700		66,137
AnGes MG, Inc. (a) (b)		48,400		92,539
Anritsu Corp.		64,300		426,012
AOKI Holdings, Inc.		9,800		128,961
Arcs Co., Ltd.		25,200		560,372
Argo Graphics, Inc.		8,200		124,607
Ariake Japan Co., Ltd.		3,900		217,540
Arisawa Manufacturing Co., Ltd.		13,100		84,832
Artnature, Inc.		15,100		133,433
Asahi Diamond Industrial Co., Ltd.		29,400		318,452
Asahi Holdings, Inc.		49,573		780,508
Asatsu-DK, Inc. (b)		3,400		83,124
Asia Pile Holdings Corp.		6,600		30,889
ASKA Pharmaceutical Co., Ltd.		12,800		159,076
ASKUL Corp.		6,600		265,822
Asukanet Co., Ltd. (b)		5,200		66,656
Ateam, Inc. (b)		6,400		94,222
Atom Corp. (b)		14,400		82,956
Autobacs Seven Co., Ltd.		42,900		788,851
Avex Group Holdings, Inc. (b)		19,700		235,984
Awa Bank, Ltd.		132,000		775,793
Axial Retailing, Inc.		3,800		128,567
Azbil Corp. (b)		24,600		637,009
Bank of Iwate, Ltd. (b)		1,800		75,564
Bank of Nagoya, Ltd. (b)		194,600		719,872
Bank of Okinawa, Ltd.		45,800		1,781,820
Bank of the Ryukyus, Ltd. (b)		88,620		1,258,265
Best Denki Co., Ltd.		249,269		261,091
Bic Camera, Inc. (b)		62,500		540,858
Broadleaf Co., Ltd. (b)		14,600		144,914
Broccoli Co., Ltd.		18,000		50,276
Bunka Shutter Co., Ltd.		41,000		350,031
C Uyemura & Co., Ltd.		1,400		59,936
Calsonic Kansei Corp.		56,000		501,367
Can Do Co., Ltd. (b)		23,000		301,900
Capcom Co., Ltd.		24,400		593,697
Central Glass Co., Ltd.		320,345		1,483,288
Chiome Bioscience, Inc. (a) (b)		6,600		34,291
Chiyoda Co., Ltd.		19,300		605,657
Chiyoda Corp. (b)		29,602		227,130
Chiyoda Integre Co., Ltd.		5,600		131,929
Chudenko Corp. (b)		4,600		102,405
Chugoku Marine Paints, Ltd.		33,000		244,698
CKD Corp.		4,000		40,401
Clarion Co., Ltd.		59,000		215,312
Cocokara fine, Inc. (b)		14,100		639,977
Colowide Co., Ltd. (b)		29,000		444,058
Comforia Residential REIT, Inc.		126		239,337
COOKPAD, Inc. (a)		175		3,771
Cosmo Energy Holdings Co., Ltd. (a)		34,300		464,481
Create Restaurants Holdings, Inc.		4,600		128,484
CROOZ, Inc. (b)		2,300		56,212
CYBERDYNE, Inc. (a) (b)		18,000		306,147
D.Western Therapeutics Institute, Inc. (a)		9,300		42,907
Daibiru Corp.		5,600		46,692
Daido Metal Co., Ltd. (b)		27,300		253,948
Daido Steel Co., Ltd.		153,000		618,130
Daifuku Co., Ltd.		47,000		810,715
Daihen Corp.		48,000		229,037
Daiichi Chou Kisen Kaisha (a) (b)		328,834		—
Daiichikosho Co., Ltd.		189		7,549
Daikyo, Inc.		107,000		175,228
Daio Paper Corp. (b)		48,400		419,243
Daiseki Co., Ltd. (b)		5,700		91,734
Daishi Bank, Ltd.		181,000		806,484
Daishinku Corp. (a)		9,000		17,133
Daito Bank, Ltd. (b)		41,000		71,574
Daito Pharmaceutical Co., Ltd.		2,900		84,255
Daiwa House REIT Investment Corp. (b)		132		519,024
Daiwa House Residential Investment Corp.		257		533,249
DCM Holdings Co., Ltd. (b)		75,493		551,630
Denka Co., Ltd.		167,000		749,657
Densan System Co., Ltd. (b)		16,000		254,840
Denyo Co., Ltd.		3,800		59,988
Descente, Ltd.		10,500		134,594
Digital Garage, Inc.		17,300		312,362
Dip Corp.		8,500		176,437
DMG Mori Co., Ltd. (b)		48,300		572,156
Doutor Nichires Holdings Co., Ltd. (b)		77,372		1,202,757
DTS Corp.		53,662		1,231,199
Dunlop Sports Co., Ltd.		2,600		20,209
Duskin Co., Ltd.		6,400		117,205
Dynam Japan Holdings Co., Ltd.		106,000		115,435
Eagle Industry Co., Ltd.		13,700		254,081
Earth Chemical Co., Ltd.		10,600		437,499
Ebara Corp. (b)		63,000		303,230
EDION Corp. (b)		106,400		810,195
Ehime Bank, Ltd. (b)		651,200		1,374,993
Eidai Co., Ltd.		14,000		48,414
Eighteenth Bank, Ltd.		497,730		1,464,703
Eizo Corp. (b)		5,900		142,773
Elecom Co., Ltd.		8,600		112,098
en-japan, Inc. (b)		5,800		215,038
Enplas Corp.		5,300		192,315
EPS Holdings, Inc. (b)		2,900		32,207
euglena Co., Ltd. (a) (b)		33,500		505,445

86

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Exedy Corp. (b)		7,000	$	171,138
F@N Communications, Inc. (b)		14,500		89,921
Fancl Corp. (b)		7,900		110,197
FCC Co., Ltd. (b)		54,028		1,161,448
Feed One Co., Ltd. (b)		49,400		54,617
Ferrotec Corp.		10,400		124,148
Fields Corp.		3,500		60,983
Financial Products Group Co., Ltd. (b)		12,600		100,134
Foster Electric Co., Ltd.		4,400		97,367
FP Corp. (b)		11,100		404,618
Frontier Real Estate Investment Corp.		104		418,870
Fudo Tetra Corp. (b)		85,800		101,281
Fuji Kyuko Co., Ltd.		27,000		260,809
Fuji Machine Manufacturing Co., Ltd.		40,800		434,472
Fuji Oil Holdings, Inc.		42,900		703,261
Fuji Pharma Co., Ltd.		3,500		63,864
Fuji Seal International, Inc. (b)		8,900		270,784
Fujibo Holdings, Inc.		72,000		134,669
Fujicco Co., Ltd.		10,000		175,568
Fujikura, Ltd.		132,000		723,122
Fujimori Kogyo Co., Ltd.		7,500		197,016
Fujitec Co., Ltd. (b)		37,800		392,156
Fujitsu General, Ltd.		29,000		373,906
Fujiya Co., Ltd. (a)		68,000		108,533
Fukuda Corp.		20,000		206,492
Fukuda Denshi Co., Ltd.		4,900		268,432
Fukuoka REIT Corp.		1,252		2,170,015
Fukuyama Transporting Co., Ltd. (b)		97,000		483,811
Furukawa Co., Ltd. (b)		167,387		347,868
Furukawa Electric Co., Ltd.		350,000		747,745
Fuso Pharmaceutical Industries, Ltd.		22,000		51,207
Futaba Corp. (b)		12,900		175,439
Fuyo General Lease Co., Ltd.		9,600		457,276
Genki Sushi Co., Ltd.		5,000		93,229
Global One Real Estate Investment Corp.		52		187,173
GLOBERIDE, Inc. (b)		6,800		90,218
Glory, Ltd.		12,800		397,423
GMO internet, Inc. (b)		31,000		412,835
GMO Payment Gateway, Inc.		6,200		298,416
GNI Group, Ltd. (a) (b)		46,000		73,037
Gree, Inc. (b)		48,000		229,835
Gulliver International Co., Ltd. (b)		30,400		306,540
Gurunavi, Inc.		13,000		272,655
Hankyu REIT, Inc.		85		90,444
Hanwa Co., Ltd.		88,000		384,787
Happinet Corp.		3,700		36,294
Harmonic Drive Systems, Inc. (b)		16,200		354,987
Hazama Ando Corp.		95,200		518,359
Hearts United Group Co., Ltd. (b)		1,300		30,453
Heiwa Real Estate Co., Ltd.		15,600		172,606
Heiwa Real Estate REIT, Inc. (b)		190		132,832
Heiwado Co., Ltd.		19,300		427,088
HI-LEX Corp.		6,800		198,130
Hibiya Engineering, Ltd. (b)		7,500		103,932
Hiramatsu, Inc.		16,100		98,237
Hirano Tecseed Co., Ltd.		28		195
Hitachi Kokusai Electric, Inc.		20,372		280,614
Hitachi Maxell, Ltd. (b)		11,100		199,125
Hitachi Transport System, Ltd.		9,600		169,344
Hitachi Zosen Corp.		158,600		879,390
Hogy Medical Co., Ltd. (b)		2,300		116,248
Hokkaido Gas Co., Ltd.		12,000		28,031
Hokkoku Bank, Ltd.		152,000		509,215
Hokuetsu Bank, Ltd.		954,000		2,030,209
Hokuetsu Kishu Paper Co., Ltd. (b)		22,000		130,579
Hokuriku Electric Industry Co., Ltd. (b)		33,000		47,458
Hokuto Corp. (b)		5,000		96,845
Horiba, Ltd. (b)		18,613		726,448
Hoshino Resorts REIT, Inc.		27		281,907
Hosiden Corp. (b)		106,900		607,836
House Foods Group, Inc. (b)		32,000		636,302
Hulic REIT, Inc.		235		329,170
Hyakujushi Bank, Ltd.		158,000		593,674
IBJ Leasing Co., Ltd.		13,000		267,684
Ichigo Office REIT Investment		418		301,612
Ichigo, Inc. (b)		17,100		53,875
Iino Kaiun Kaisha, Ltd. (b)		114,880		480,358
Imasen Electric Industrial		9,500		98,558
Imperial Hotel, Ltd.		10,900		219,278
Inaba Denki Sangyo Co., Ltd.		3,000		96,887
Inabata & Co., Ltd.		3,400		34,736
Industrial & Infrastructure Fund Investment Corp. (b)		151		723,023
Infomart Corp.		22,300		221,526
Intage Holdings, Inc.		4,000		56,794
Internet Initiative Japan, Inc. (b)		16,200		324,821
Invesco Office J-Reit, Inc.		116		98,840
Invincible Investment Corp.		1,218		712,808
Iriso Electronics Co., Ltd. (b)		3,300		187,090
Iseki & Co., Ltd. (b)		56,000		87,984
Ishihara Sangyo Kaisha, Ltd. (a) (b)		84,000		71,923
IT Holdings Corp.		40,208		930,204
Itfor, Inc.		38,400		175,249
Itoham Foods, Inc. (b)		60,000		349,640
Itoki Corp.		28,600		204,702
Iwasaki Electric Co., Ltd.		27,000		55,439
Iwatani Corp. (b)		132,000		686,911
J Trust Co., Ltd. (b)		40,800		329,670
Jaccs Co., Ltd.		75,000		277,443
Japan Asset Marketing Co., Ltd. (a) (b)		55,700		52,785
Japan Aviation Electronics Industry, Ltd.		21,000		306,546
Japan Cash Machine Co., Ltd. (b)		3,200		31,762
Japan Communications, Inc. (a) (b)		60,500		136,294
Japan Digital Laboratory Co., Ltd.		4,000		54,799
Japan Display, Inc. (a) (b)		112,612		328,582
Japan Excellent, Inc.		693		765,039
Japan Hotel REIT Investment Corp.		1,347		1,002,174
Japan Logistics Fund, Inc.		896		1,745,150
Japan Petroleum Exploration Co., Ltd.		3,900		105,852
Japan Rental Housing Investments, Inc.		48		34,076
Japan Securities Finance Co., Ltd.		25,800		132,759
Japan Steel Works, Ltd.		161,000		571,487
Japan Tissue Engineering Co., Ltd. (a)		2,800		25,534
JCR Pharmaceuticals Co., Ltd. (b)		3,800		83,553
Jeol, Ltd.		41,000		269,255

87

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Jin Co., Ltd. (b)		6,600	$	245,796
Joban Kosan Co., Ltd.		80,000		101,085
Juki Corp. (b)		32,900		297,288
Juroku Bank, Ltd. (b)		83,000		331,876
Justsystems Corp.		7,700		60,041
JVC Kenwood Corp. (b)		77,700		215,089
K’s Holdings Corp. (b)		22,600		775,909
Kadokawa Dwango (a) (b)		23,400		353,835
Kaga Electronics Co., Ltd. (b)		6,400		96,297
Kagome Co., Ltd. (b)		17,000		299,032
Kanamoto Co., Ltd. (b)		17,600		449,894
Kandenko Co., Ltd. (b)		25,000		169,167
Kanematsu Corp.		569,498		970,507
Kasai Kogyo Co., Ltd.		8,000		117,179
Katakura Industries Co., Ltd. (b)		77,074		836,124
Kato Sangyo Co., Ltd.		15,300		358,160
KAWADA TECHNOLOGIES, Inc. (b)		1,300		41,012
Kawai Musical Instruments Manufacturing Co., Ltd. (b)		9,300		175,803
Keihin Corp. (b)		13,500		239,935
Keiyo Bank, Ltd.		147,000		703,870
Kenedix Office Investment Corp.		136		638,763
Kenedix Residential Investment Corp.		106		262,588
Kenedix, Inc. (b)		104,400		380,126
Key Coffee, Inc. (b)		6,100		97,868
Kintetsu World Express, Inc.		6,000		106,837
Kissei Pharmaceutical Co., Ltd.		7,900		200,299
Kitano Construction Corp.		15,000		39,278
Kito Corp.		15,700		142,128
Kitz Corp. (b)		183,100		831,062
Kiyo Bank, Ltd.		98,760		1,440,002
KLab, Inc. (a) (b)		16,200		108,004
Kokuyo Co., Ltd.		33,251		362,929
Komeri Co., Ltd.		10,300		214,057
Komori Corp. (b)		74,136		880,055
Kotobuki Spirits Co., Ltd.		7,000		289,788
Kourakuen Holdings Corp.		8,000		104,942
Kumagai Gumi Co., Ltd.		171,000		496,105
Kurabo Industries, Ltd.		522,600		899,274
Kureha Corp. (b)		35,000		136,165
Kuroda Electric Co., Ltd.		6,500		121,306
Kusuri No Aoki Co., Ltd.		3,600		177,164
KYB Corp. (b)		235,832		721,445
Kyoei Steel, Ltd.		4,000		72,322
Kyokuto Kaihatsu Kogyo Co., Ltd. (b)		16,500		185,170
Kyokuyo Co., Ltd. (b)		22,000		50,659
KYORIN Holdings, Inc.		31,000		652,496
Kyoritsu Maintenance Co., Ltd.		2,800		242,537
Kyosan Electric Manufacturing Co., Ltd. (b)		12,000		36,211
Kyoto Kimono Yuzen Co., Ltd.		18,700		141,461
Kyowa Exeo Corp. (b)		68,080		706,862
Kyudenko Corp. (b)		18,000		325,600
Kyushu Financial Group, Inc. (a)		1,000		7,041
LAC Co., Ltd. (b)		6,900		84,260
Lasertec Corp.		4,900		56,253
Leopalace21 Corp. (a)		130,200		712,179
Life Corp.		14,300		356,623
Lintec Corp.		13,400		285,054
Lion Corp.		1,400		13,314
Maeda Corp. (b)		74,000		503,811
Maeda Road Construction Co., Ltd. (b)		16,000		271,200
Makino Milling Machine Co., Ltd. (b)		111,000		847,068
Mandom Corp.		8,800		358,086
Mani, Inc. (b)		12,700		246,726
Marudai Food Co., Ltd. (b)		479,656		1,854,109
Maruha Nichiro Corp. (b)		34,920		620,342
Marusan Securities Co., Ltd. (b)		61,138		647,998
Maruwa Co., Ltd. (b)		1,900		42,424
Marvelous, Inc. (b)		19,900		152,854
Matsuya Co., Ltd. (b)		28,400		294,164
MCUBS MidCity Investment Corp.		71		218,085
Medinet Co., Ltd. (a) (b)		14,600		16,870
Megmilk Snow Brand Co., Ltd. (b)		16,700		433,135
Meidensha Corp. (b)		133,000		541,752
Meitec Corp.		13,200		455,929
Melco Holdings, Inc.		4,000		74,151
Message Co., Ltd. (b)		3,500		100,378
Michinoku Bank, Ltd. (b)		648,200		1,099,238
Micronics Japan Co., Ltd. (b)		17,500		186,209
Minato Bank, Ltd. (b)		647,800		1,077,019
Mirait Holdings Corp.		43,260		359,256
Mitani Corp.		4,400		109,913
Mitsuba Corp.		18,800		295,218
Mitsubishi Kakoki Kaisha, Ltd.		16,000		31,922
Mitsubishi Nichiyu Forklift Co., Ltd.		10,900		44,580
Mitsubishi Pencil Co., Ltd.		14,900		696,105
Mitsubishi Shokuhin Co., Ltd. (b)		1,200		29,767
Mitsui Engineering & Shipbuilding Co., Ltd. (b)		300,000		498,774
Mitsui Mining & Smelting Co., Ltd. (b)		258,000		484,708
Mitsui Sugar Co., Ltd.		11,000		49,744
Mitsui-Soko Holdings Co., Ltd. (b)		242,000		692,032
Mitsumi Electric Co., Ltd. (b)		57,100		327,045
Miura Co., Ltd. (b)		49,700		711,859
Miyaji Engineering Group, Inc. (b)		26,000		40,633
Miyazaki Bank, Ltd. (b)		581,800		1,881,377
Miyoshi Oil & Fat Co., Ltd. (b)		30,000		33,917
Mizuno Corp. (b)		39,000		187,389
Mochida Pharmaceutical Co., Ltd. (b)		3,100		221,880
Modec, Inc. (b)		9,000		126,215
Monex Group, Inc. (b)		94,400		248,762
Monogatari Corp.		1,400		64,242
Morinaga & Co., Ltd. (b)		98,000		521,385
Morinaga Milk Industry Co., Ltd.		97,000		445,106
Morita Holdings Corp.		21,500		235,205
MOS Food Services, Inc.		4,700		127,370
Musashi Seimitsu Industry Co., Ltd.		6,100		125,808
Musashino Bank, Ltd.		33,580		1,240,809
Mutoh Holdings Co., Ltd.		20,000		44,391
Nachi-Fujikoshi Corp. (b)		84,000		389,642
Nagase & Co., Ltd.		61,000		779,392
Nakanishi, Inc.		26,180		1,023,957
Namura Shipbuilding Co., Ltd. (b)		18,800		156,751
NanoCarrier Co., Ltd. (a) (b)		10,800		93,909
Nanto Bank, Ltd.		134,000		423,293
NEC Networks & System Integration Corp.		3,700		66,006
NET One Systems Co., Ltd. (b)		120,700		777,609
Neturen Co., Ltd. (b)		136,483		1,076,706

88

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Next Co., Ltd.		15,600	$	193,614
Nichi-iko Pharmaceutical Co., Ltd.		26,300		635,555
Nichias Corp.		12,000		79,704
Nichicon Corp.		10,900		86,261
Nichiha Corp.		7,500		114,095
Nichii Gakkan Co. (b)		6,700		49,013
Nichirei Corp.		157,000		1,172,002
Nichireki Co., Ltd.		13,000		103,529
Nihon Dempa Kogyo Co., Ltd.		25,900		170,951
Nihon Kohden Corp.		20,100		491,242
Nihon M&A Center, Inc. (b)		16,000		779,417
Nihon Nohyaku Co., Ltd. (b)		11,100		70,035
Nihon Parkerizing Co., Ltd.		42,800		442,249
Nihon Trim Co., Ltd. (b)		1,500		52,683
Nihon Unisys, Ltd. (b)		10,800		120,304
Nikkiso Co., Ltd. (b)		65,240		520,098
Nikkon Holdings Co., Ltd.		134,880		2,716,773
Nippon Accommodations Fund, Inc.		215		750,655
Nippon Beet Sugar Manufacturing Co., Ltd. (b)		33,000		55,688
Nippon Carbon Co., Ltd. (b)		171,712		436,792
Nippon Chemi-Con Corp.		69,000		123,322
Nippon Chemiphar Co., Ltd.		13,000		66,678
Nippon Coke & Engineering Co., Ltd.		36,600		30,729
Nippon Concrete Industries Co., Ltd. (b)		32,100		97,398
Nippon Densetsu Kogyo Co., Ltd.		23,900		526,696
Nippon Flour Mills Co., Ltd. (b)		54,000		390,091
Nippon Gas Co., Ltd. (b)		31,400		778,376
Nippon Kayaku Co., Ltd. (b)		45,000		476,952
Nippon Koei Co., Ltd.		17,000		62,463
Nippon Light Metal Holdings Co., Ltd.		241,500		433,634
Nippon Paper Industries Co., Ltd. (b)		54,700		893,061
Nippon Parking Development Co., Ltd. (b)		43,500		50,264
NIPPON REIT Investment Corp.		52		124,235
Nippon Seiki Co., Ltd.		55,200		1,273,829
Nippon Sheet Glass Co., Ltd. (a) (b)		428,000		348,676
Nippon Signal Co., Ltd. (b)		32,300		355,503
Nippon Soda Co., Ltd.		64,000		385,718
Nippon Steel & Sumikin Bussan Corp. (b)		36,000		124,195
Nippon Suisan Kaisha, Ltd.		123,199		695,392
Nippon Thompson Co., Ltd.		148,600		651,001
Nippon Yakin Kogyo Co., Ltd. (a) (b)		78,500		92,664
Nipro Corp.		49,300		544,249
Nishi-Nippon Railroad Co., Ltd. (b)		156,000		923,330
Nishimatsu Construction Co., Ltd.		132,000		504,759
Nishimatsuya Chain Co., Ltd. (b)		23,953		209,274
Nishio Rent All Co., Ltd.		7,000		194,065
Nissha Printing Co., Ltd.		24,100		471,803
Nisshin Oillio Group, Ltd.		24,000		98,358
Nisshin Steel Co., Ltd. (b)		53,500		573,270
Nisshinbo Holdings, Inc.		700		7,460
Nissin Electric Co., Ltd.		8,000		65,639
Nissin Kogyo Co., Ltd. (b)		13,600		198,978
Nitto Boseki Co., Ltd.		142,153		386,417
Nitto Kogyo Corp.		8,500		150,364
NOF Corp.		244,600		1,901,168
Nohmi Bosai, Ltd.		17,100		215,927
Nojima Corp.		9,800		119,511
Noritsu Koki Co., Ltd.		9,800		49,287
Noritz Corp. (b)		4,700		72,554
North Pacific Bank, Ltd.		150,400		526,359
NS United Kaiun Kaisha, Ltd. (b)		19,000		34,116
NSD Co., Ltd. (b)		19,800		288,700
NuFlare Technology, Inc. (b)		1,000		46,053
Obara Group, Inc. (b)		3,500		128,601
Oenon Holdings, Inc.		97,000		180,623
Ogaki Kyoritsu Bank, Ltd.		19,000		77,393
Ohsho Food Service Corp.		6,800		235,721
Oiles Corp. (b)		10,900		191,007
Oita Bank, Ltd. (b)		347,800		1,364,659
Okabe Co., Ltd.		21,400		165,621
Okamoto Industries, Inc. (b)		32,700		299,559
Okamura Corp. (b)		59,000		593,458
Okasan Securities Group, Inc. (b)		88,682		512,357
Oki Electric Industry Co., Ltd. (b)		535,000		676,005
Okinawa Electric Power Co., Inc.		3,000		78,432
OKUMA Corp. (b)		68,000		558,494
Okumura Corp. (b)		84,000		477,626
OncoTherapy Science, Inc. (a) (b)		21,500		54,691
Onward Holdings Co., Ltd. (b)		17,000		105,424
Open House Co., Ltd.		6,600		128,714
Orient Corp. (a)		1,600		3,392
OSAKA Titanium Technologies Co., Ltd. (b)		8,500		176,932
Osaki Electric Co., Ltd. (b)		9,000		51,174
OSG Corp. (b)		47,840		914,287
Otsuka Kagu, Ltd. (b)		7,200		91,814
Pacific Industrial Co., Ltd. (b)		30,000		334,677
Pacific Metals Co., Ltd. (a) (b)		74,000		208,537
Pal Co., Ltd.		5,700		138,123
Paramount Bed Holdings Co., Ltd.		5,600		200,175
Pasona Group, Inc. (b)		11,500		83,171
Penta-Ocean Construction Co., Ltd. (b)		119,100		501,964
PeptiDream, Inc. (a) (b)		15,100		486,408
Pilot Corp.		175		7,267
Piolax, Inc.		5,300		302,240
Pioneer Corp. (a)		170,700		475,369
Poletowin Pitcrew Holdings, Inc.		2,800		26,884
Premier Investment Corp. (b)		1,774		1,818,315
Qol Co., Ltd.		8,600		122,678
Raito Kogyo Co., Ltd. (b)		15,200		149,606
Relia, Inc.		23,300		201,438
Relo Holdings, Inc.		5,900		720,487
Rengo Co., Ltd. (b)		219,000		943,032
ReproCELL, Inc. (a) (b)		21,700		66,023
Riso Kagaku Corp. (b)		9,200		151,045
Rock Field Co., Ltd.		5,300		130,589
Rohto Pharmaceutical Co., Ltd.		47,800		962,397
Roland DG Corp.		4,400		94,551
Round One Corp.		22,800		103,675
Ryobi, Ltd.		37,000		158,402
Ryosan Co., Ltd.		3,500		90,777
Sagami Chain Co., Ltd. (b)		21,000		225,196
Saibu Gas Co., Ltd. (b)		128,000		297,934
Saizeriya Co., Ltd. (b)		8,400		212,627
Sakai Chemical Industry Co., Ltd.		274,765		934,194
San-A Co., Ltd.		10,200		462,114
San-Ai Oil Co., Ltd. (b)		17,000		139,765

89

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
San-In Godo Bank, Ltd.		11,000	$	90,527
Sanden Holdings Corp.		56,000		180,623
Sangetsu Co., Ltd.		17,000		313,446
Sanix, Inc. (a) (b)		10,700		18,234
Sanken Electric Co., Ltd. (b)		68,000		241,373
Sankyo Tateyama, Inc.		4,400		56,438
Sankyu, Inc. (b)		143,000		738,210
Sanwa Holdings Corp.		90,100		722,028
Sanyo Electric Railway Co., Ltd.		39,000		153,348
Sanyo Shokai, Ltd. (b)		214,000		515,898
Sanyo Special Steel Co., Ltd. (b)		231,937		1,112,496
Sapporo Holdings, Ltd. (b)		238,000		1,052,546
Sato Holdings Corp.		42,440		846,718
SCREEN Holdings Co., Ltd. (b)		176,000		1,313,837
Seika Corp.		22,000		53,585
Seikagaku Corp. (b)		21,300		320,664
Seiko Holdings Corp.		59,000		336,947
Seino Holdings Co., Ltd.		700		7,367
Seiren Co., Ltd.		138,780		1,515,914
Sekisui House Reit, Inc.		146		159,478
Sekisui House SI Residential Investment Corp.		277		249,610
Senko Co., Ltd.		42,000		285,598
Senshu Ikeda Holdings, Inc. (b)		106,460		442,496
Senshukai Co., Ltd. (b)		17,800		118,376
Septeni Holdings Co., Ltd.		6,900		153,779
Seria Co., Ltd.		7,800		380,614
Shibuya Kogyo Co., Ltd.		10,900		163,280
Shiga Bank, Ltd. (b)		135,000		681,200
Shima Seiki Manufacturing, Ltd. (b)		54,045		870,237
Shimachu Co., Ltd.		41,960		963,411
Shindengen Electric Manufacturing Co., Ltd.		41,000		164,620
Shinkawa, Ltd. (a) (b)		9,200		47,876
Shinkin Central Bank Class A, Preference Shares		365		684,214
Shinko Electric Industries Co., Ltd. (b)		27,200		176,819
Shinmaywa Industries, Ltd.		26,000		235,588
Shinsho Corp.		40,000		80,469
Ship Healthcare Holdings, Inc.		14,400		360,314
SHO-BOND Holdings Co., Ltd. (b)		11,300		415,196
Shochiku Co., Ltd. (b)		261,600		2,511,725
Shoei Co., Ltd.		5,600		124,574
Showa Aircraft Industry Co., Ltd.		7,000		71,516
Showa Corp.		23,200		218,124
Showa Denko KK (b)		551,000		650,418
SIA Reit, Inc.		48		186,741
Sinanen Holdings Co., Ltd.		14,000		55,164
Sinfonia Technology Co., Ltd.		337,400		555,345
SK Kaken Co., Ltd. (b)		4,000		379,068
Skylark Co., Ltd.		212		2,765
SMK Corp. (b)		132,343		661,192
SMS Co., Ltd.		9,200		194,485
Sodick Co., Ltd. (b)		24,800		185,338
Sogo Medical Co., Ltd.		2,200		81,749
Sosei Group Corp. (b)		6,000		496,280
Sotetsu Holdings, Inc.		1,864		10,940
St Marc Holdings Co., Ltd. (b)		3,000		83,919
Star Micronics Co., Ltd. (b)		18,900		249,340
Starts Corp., Inc.		14,400		281,308
Starts Proceed Investment Corp.		68		96,888
Sumitomo Bakelite Co., Ltd. (b)		54,000		226,693
Sumitomo Forestry Co., Ltd.		90,800		1,240,155
Sumitomo Mitsui Construction Co., Ltd. (b)		374,800		355,187
Sumitomo Osaka Cement Co., Ltd. (b)		191,793		709,488
Sumitomo Real Estate Sales Co., Ltd.		3,700		85,660
Sumitomo Seika Chemicals Co., Ltd. (b)		12,000		73,719
Sumitomo Warehouse Co., Ltd.		48,000		256,968
Sun Corp.		10,000		55,281
Sun Frontier Fudousan Co., Ltd. (b)		5,800		43,056
SWCC Showa Holdings Co., Ltd. (a) (b)		45,000		26,560
T RAD Co., Ltd.		15,000		25,188
Tabuchi Electric Co., Ltd. (b)		16,500		103,969
Tachi-S Co., Ltd.		19,200		309,160
Tadano, Ltd.		32,000		392,635
Taikisha, Ltd.		6,000		144,994
Taiko Pharmaceutical Co., Ltd. (b)		4,200		63,858
Taiyo Holdings Co., Ltd.		4,600		178,769
Taiyo Yuden Co., Ltd. (b)		61,200		857,751
Takaoka Toko Co., Ltd.		1,900		24,197
Takara Bio, Inc.		23,800		239,791
Takara Holdings, Inc.		90,600		695,909
Takara Leben Co., Ltd. (b)		15,100		84,855
Takara Standard Co., Ltd. (b)		53,000		406,218
Takasago International Corp.		47,700		1,152,699
Takasago Thermal Engineering Co., Ltd. (b)		33,000		487,202
Takashima & Co., Ltd.		36,000		66,437
Takata Corp. (a) (b)		16,100		108,007
Takeuchi Manufacturing Co., Ltd.		20,800		428,640
Takuma Co., Ltd.		34,000		280,660
Tamron Co., Ltd.		5,400		100,867
Tamura Corp.		49,000		147,454
Tanseisha Co., Ltd. (b)		22,300		181,855
TechnoPro Holdings, Inc.		5,400		159,583
Teikoku Electric Manufacturing Co., Ltd.		3,600		28,789
Teikoku Sen-I Co., Ltd. (b)		13,900		179,217
Tekken Corp. (b)		72,000		180,157
TKC Corp.		3,700		99,501
Toa Corp. (b) (c)		18,200		191,539
Toa Corp. (c)		33,000		87,510
Toagosei Co., Ltd. (b)		208,700		1,807,768
Tobishima Corp. (a) (b)		28,700		46,285
TOC Co., Ltd. (b)		161,760		1,434,789
Tochigi Bank, Ltd. (b)		236,000		1,361,520
Toda Corp.		136,000		732,599
Toei Co., Ltd.		136,400		1,345,915
Toho Bank, Ltd. (b)		90,000		324,702
Toho Holdings Co., Ltd. (b)		69,319		1,701,066
Toho Zinc Co., Ltd. (b)		53,000		123,804
Tokai Carbon Co., Ltd. (b)		133,000		378,120
Tokai Corp.		1,600		46,220
TOKAI Holdings Corp.		58,400		274,778
Tokai Rika Co., Ltd.		18,200		455,397
Toko, Inc. (b)		17,000		53,984
Tokuyama Corp. (a) (b)		225,000		491,916
Tokyo Dome Corp.		79,000		406,509
Tokyo Ohka Kogyo Co., Ltd.		17,600		565,477

90

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Tokyo Seimitsu Co., Ltd. (b)		21,900	$	491,724
Tokyo Steel Manufacturing Co., Ltd.		52,500		329,939
Tokyo Tekko Co., Ltd.		9,000		40,625
Tokyo TY Financial Group, Inc.		17,800		601,496
Tokyotokeiba Co., Ltd. (b)		73,000		164,454
Tokyu Construction Co., Ltd. (b)		15,400		116,625
Tokyu REIT, Inc.		294		372,709
Tomoe Engineering Co., Ltd.		2,800		37,009
TOMONY Holdings, Inc. (b)		221,380		852,063
Tomy Co., Ltd. (b)		53,800		355,104
Top REIT, Inc.		92		349,507
Topcon Corp.		23,800		407,367
Topre Corp. (b)		23,700		549,477
Topy Industries, Ltd.		352,981		798,128
Torii Pharmaceutical Co., Ltd.		3,700		85,322
Torishima Pump Manufacturing Co., Ltd. (b)		5,600		46,599
Toshiba Machine Co., Ltd. (b)		51,000		174,671
Toshiba Plant Systems & Services Corp.		10,900		121,690
Toshiba TEC Corp. (b)		54,000		194,372
Totetsu Kogyo Co., Ltd.		13,800		349,316
Towa Pharmaceutical Co., Ltd. (b)		2,800		175,967
Toyo Construction Co., Ltd.		9,700		44,591
Toyo Corp. (b)		140,568		1,283,043
Toyo Engineering Corp. (a) (b)		58,000		150,430
Toyo Ink SC Holdings Co., Ltd.		60,000		246,893
Toyo Wharf & Warehouse Co., Ltd. (b)		31,000		47,932
Toyobo Co., Ltd.		405,788		573,457
TPR Co., Ltd.		15,800		451,166
Trusco Nakayama Corp.		10,200		400,640
TS Tech Co., Ltd.		21,300		558,639
TSI Holdings Co., Ltd. (b)		67,200		463,102
Tsubakimoto Chain Co.		62,000		483,445
Tsukui Corp. (b)		4,300		47,577
Tsumura & Co. (b)		27,900		781,604
Tsurumi Manufacturing Co., Ltd. (b)		10,900		180,678
UACJ Corp. (b)		134,000		317,470
Ube Industries, Ltd. (b)		321,000		685,789
Ulvac, Inc.		34,600		990,872
UMN Pharma, Inc. (a) (b)		4,600		66,766
Unipres Corp.		16,900		386,623
United Arrows, Ltd.		13,200		572,792
United Super Markets Holdings, Inc.		12,600		107,990
UNITED, Inc. (b)		3,700		47,459
Unitika, Ltd. (a) (b)		1,073,000		508,425
UNY Group Holdings Co., Ltd. (b)		76,400		484,585
Usen Corp. (a)		47,110		136,676
Ushio, Inc.		43,200		602,599
UT Group Co., Ltd. (a)		11,100		54,164
Valor Holdings Co., Ltd.		32,100		761,840
VT Holdings Co., Ltd.		22,200		133,427
Wacoal Holdings Corp. (b)		72,000		867,866
Wacom Co., Ltd. (b)		73,700		295,302
Wakachiku Construction Co., Ltd. (b)		38,000		45,172
Wakita & Co., Ltd.		10,900		94,960
WirelessGate, Inc.		4,300		64,342
Xebio Holdings Co., Ltd. (b)		8,000		152,359
YAMABIKO Corp.		21,500		182,838
Yamazen Corp. (b)		47,500		439,877
Yodogawa Steel Works, Ltd. (b)		59,400		1,203,357
Yokogawa Bridge Holdings Corp. (b)		17,400		202,068
Yondoshi Holdings, Inc. (b)		13,700		305,444
Yorozu Corp.		13,700		314,783
Yoshinoya Holdings Co., Ltd. (b)		31,100		403,567
Yushin Precision Equipment Co., Ltd.		1,400		26,349
Zenrin Co., Ltd. (b)		57,877		1,189,342
Zensho Holdings Co., Ltd. (b)		19,700		249,249
ZERIA Pharmaceutical Co., Ltd. (b)		18,700		250,276
Zojirushi Corp. (b)		23,700		340,837
				234,287,987
LUXEMBOURG — 0.0% (d)
Stabilus SA (a)		5,948		249,116
MACAU — 0.1%
Macau Legend Development, Ltd. (a) (b)		3,004,770		391,582
MONGOLIA — 0.0% (d)
Mongolian Mining Corp. (a) (b)		1,233,500		27,853
NETHERLANDS — 1.2%
Amsterdam Commodities NV		15,608		393,355
BE Semiconductor Industries NV		13,563		273,453
Beter Bed Holding NV		12,552		306,520
BinckBank NV		41,447		357,895
Cimpress NV (a)		147		11,928
Constellium NV Class A (a)		31,634		243,582
Corbion NV		39,721		962,868
Fugro NV (a) (b)		18,861		308,560
IMCD Group NV		12,572		465,224
InterXion Holding NV (a) (b)		15,438		465,456
Koninklijke BAM Groep NV (a)		145,202		809,170
Koninklijke Ten Cate NV		11,172		290,661
NSI NV		49,980		215,816
PostNL NV (a)		136,542		519,139
Refresco Gerber NV (a) (e)		18,646		321,247
Sligro Food Group NV		9,559		345,785
TKH Group NV		15,787		642,074
USG People NV		31,679		591,214
Vastned Retail NV		5,594		257,351
Wessanen		30,137		306,099
				8,087,397
NEW ZEALAND — 1.5%
a2 Milk Co., Ltd. (a) (b)		197,217		251,127
Air New Zealand, Ltd.		240,396		486,319
Argosy Property, Ltd.		337,040		264,195
Chorus, Ltd. (a) (b)		143,447		383,977
EBOS Group, Ltd.		31,023		292,027
Freightways, Ltd.		80,890		343,893
Genesis Energy, Ltd.		187,374		247,573
Goodman Property Trust		374,668		318,057
Heartland New Zealand, Ltd.		252,858		228,501
Infratil, Ltd. (b)		310,379		695,890
Kathmandu Holdings, Ltd. (b)		78,265		83,585
Kiwi Property Group, Ltd.		502,412		464,334
Mainfreight, Ltd.		59,118		621,653
Metlifecare, Ltd.		66,909		212,081
New Zealand Oil & Gas, Ltd. (b)		278,902		81,148
Nuplex Industries, Ltd.		140,343		456,374
NZX, Ltd.		248,659		182,148
PGG Wrightson, Ltd.		102,731		29,187
Port of Tauranga, Ltd. (b)		23,990		307,121
Precinct Properties New Zealand, Ltd.		270,293		231,303

91

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Property for Industry, Ltd.		214,391	$	235,569
Restaurant Brands New Zealand, Ltd.		121,491		369,287
Skellerup Holdings, Ltd.		149,377		154,418
SKY Network Television, Ltd. (b)		68,839		216,314
SKYCITY Entertainment Group, Ltd.		299,552		908,475
Steel & Tube Holdings, Ltd.		16,217		24,869
Stride Property, Ltd. (b)		255,067		379,796
Summerset Group Holdings, Ltd. (b)		61,847		172,749
TOWER, Ltd.		136,006		176,908
Trade Me Group, Ltd.		205,801		588,926
Vital Healthcare Property Trust		218,817		280,130
Warehouse Group, Ltd.		64,311		117,553
Z Energy, Ltd.		72,196		334,116
				10,139,603
NORWAY — 1.7%
AF Gruppen ASA		13,468		212,260
Aker Solutions ASA (b)		58,031		198,652
Atea ASA		40,716		338,098
Austevoll Seafood ASA		35,583		217,083
Avance Gas Holding, Ltd. (e)		13,303		171,334
Borregaard ASA		54,680		305,173
BW LPG, Ltd. (b) (e)		28,259		233,061
BW Offshore, Ltd.		189,720		55,085
Det Norske Oljeselskap ASA (a)		47,840		298,617
DNO ASA (a) (b)		239,030		162,705
Ekornes ASA		46,748		525,505
Europris ASA (a) (e)		36,709		178,333
Fred Olsen Energy ASA (a) (b)		14,373		55,859
Frontline, Ltd.		64,334		186,213
Hexagon Composites ASA		52,665		136,254
Hoegh LNG Holdings, Ltd. (b)		20,435		217,594
Kongsberg Automotive ASA (a)		205,652		144,748
Kongsberg Gruppen ASA (b)		12,978		212,601
Kvaerner ASA		109,373		101,572
Nordic Semiconductor ASA (a) (b)		82,567		403,444
Norwegian Air Shuttle ASA (a) (b)		8,531		311,985
Opera Software ASA (b)		67,854		387,514
Petroleum Geo-Services ASA		105,727		434,191
Prosafe SE (b)		118,470		281,072
Protector Forsikring ASA		56,736		472,728
Salmar ASA		16,659		291,723
Ship Finance International, Ltd. (b)		33,782		559,768
Solstad Offshore ASA		11,133		25,784
SpareBank 1 SMN		31,526		179,867
Spectrum ASA		21,067		65,452
Stolt-Nielsen, Ltd.		13,971		166,521
Storebrand ASA (a)		148,531		586,482
TGS Nopec Geophysical Co. ASA (b)		37,658		601,585
Thin Film Electronics ASA (a) (b)		287,929		123,612
Tomra Systems ASA		115,984		1,251,388
Veidekke ASA		111,984		1,372,702
Wilh Wilhelmsen ASA (b)		21,831		87,064
XXL ASA (e)		30,515		351,645
				11,905,274
PERU — 0.0%(d)
Hochschild Mining PLC (a) (b)		84,580		60,150
PORTUGAL — 0.2%
Altri SGPS SA		199,070		1,031,511
CTT-Correios de Portugal SA		34,566		332,459
Mota-Engil SGPS SA (b)		46,742		97,744
Pharol SGPS SA (a)		241,553		71,110
				1,532,824
SINGAPORE — 2.2%
AIMS AMP Capital Industrial REIT		247,958		240,329
Ascendas Hospitality Trust (b)		512,000		267,071
Ascott Residence Trust		419,600		350,492
Biosensors International Group, Ltd. (a)		642,000		366,560
Boustead Singapore, Ltd.		307,657		181,083
Cache Logistics Trust (b)		495,000		317,520
Cambridge Industrial Trust (b)		1,034,855		412,148
CapitaLand Retail China Trust		330,147		346,752
CDL Hospitality Trusts (b)		408,000		381,066
China Yuchai International, Ltd. (b)		21,814		234,719
Cordlife Group, Ltd.		249,000		255,380
Cosco Corp. Singapore, Ltd.		4,000		1,297
Croesus Retail Trust		227,820		130,077
CSE Global, Ltd. (b)		148,000		47,989
CWT, Ltd. (b)		191,000		258,499
Ezion Holdings, Ltd. (b)		512,000		220,153
Ezra Holdings, Ltd. (a) (b)		1,481,195		103,365
Far East Hospitality Trust (b)		423,000		198,284
First Real Estate Investment Trust		556,031		470,332
Frasers Centrepoint Trust		263,000		342,040
Frasers Commercial Trust (b)		310,645		278,095
Frasers Hospitality Trust		209,000		110,492
GL, Ltd.		409,000		252,264
Haw Par Corp., Ltd.		70,086		408,565
Hong Fok Corp., Ltd.		245,000		124,344
Hyflux, Ltd. (b)		312,100		124,299
IGG, Inc.		444,000		199,366
International Healthway Corp., Ltd. (a)		155,000		9,943
InterOil Corp. (a) (b)		16,830		528,799
Interra Resources, Ltd. (a)		7,000		414
Jaya Holdings, Ltd. (a)		49		10
k1 Ventures, Ltd.		52,000		33,905
Keppel DC REIT		238,700		170,782
Keppel Infrastructure Trust		804,338		289,157
Lian Beng Group, Ltd.		130,000		46,276
LionGold Corp., Ltd. (a)		3,696		18
Lippo Malls Indonesia Retail Trust		1,225,000		276,319
Mapletree Greater China Commercial Trust		696,000		448,906
Mapletree Industrial Trust		796,437		853,335
Metro Holdings, Ltd.		331,000		202,989
Mewah International, Inc.		207,000		51,070
OSIM International, Ltd. (b)		203,000		154,541
OUE Commercial Real Estate Investment Trust		127,000		58,637
OUE Hospitality Trust		343,333		186,351
OUE, Ltd. (b)		86,000		108,512
Oxley Holdings, Ltd. (b)		129,000		40,010
Pacific Radiance, Ltd. (b)		227,000		49,603
Pan-United Corp., Ltd.		700		301
Parkway Life Real Estate Investment Trust (b)		251,000		412,244
Petra Foods, Ltd.		184,000		273,669
Raffles Medical Group, Ltd.		154,902		454,229
Religare Health Trust		460,000		324,252

92

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Rotary Engineering, Ltd.		100,000	$	24,671
Rowsley, Ltd. (a) (b)		1,641,000		210,525
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (b)		403,729		203,480
Saizen REIT		385		296
Sinarmas Land, Ltd.		585,000		191,749
SMRT Corp., Ltd. (b)		351,000		372,365
Soilbuild Business Space REIT		256,000		138,949
Stamford Land Corp., Ltd.		609		219
Starhill Global REIT		741,000		394,357
Super Group, Ltd.		245,000		145,067
Swiber Holdings, Ltd. (a) (b)		104,100		15,410
Tat Hong Holdings, Ltd.		735		254
Technics Oil & Gas, Ltd. (a)		1,239		541
Tiger Airways Holdings, Ltd. (a) (b)		312,850		90,416
Tuan Sing Holdings, Ltd.		195,936		44,887
UMS Holdings, Ltd.		326,000		118,345
United Engineers, Ltd. (b)		284,000		398,379
Venture Corp., Ltd.		75,000		433,511
Wing Tai Holdings, Ltd. (b)		557,299		689,430
XP Power, Ltd.		2,629		56,263
Yoma Strategic Holdings, Ltd. (a) (b)		726,333		238,075
Yongnam Holdings, Ltd. (a)		115,749		30,597
				15,394,639
SOUTH AFRICA — 0.0% (d)
Great Basin Gold, Ltd. (a)		266,255		—
Petra Diamonds, Ltd.		174,633		225,218
				225,218
SOUTH KOREA — 8.7%
Able C&C Co., Ltd.		8,905		177,713
Actoz Soft Co., Ltd. (a)		1,059		28,224
Advanced Process Systems Corp. (a)		6,480		71,843
AeroSpace Technology of Korea, Inc. (a) (b)		4,465		89,487
AfreecaTV Co., Ltd.		3,268		78,038
Ahnlab, Inc.		2,206		152,767
AJ Rent A Car Co., Ltd. (a)		2,924		29,675
AK Holdings, Inc.		1,943		104,727
Amicogen, Inc.		1,928		109,016
Asiana Airlines, Inc. (a)		44,034		173,875
Basic House Co., Ltd. (a) (b)		2,000		18,933
Binex Co., Ltd. (a)		15,197		209,962
Binggrae Co., Ltd.		4,087		238,761
Bioland, Ltd.		3,982		93,900
Boryung Pharmaceutical Co., Ltd.		3,468		166,812
Bukwang Pharmaceutical Co., Ltd.		9,938		215,703
Byucksan Corp.		29,162		211,400
Cell Biotech Co., Ltd.		1,604		78,110
Celltrion Pharm, Inc. (a)		8,104		121,641
Chabiotech Co., Ltd. (a)		26,732		323,734
Cheil Worldwide, Inc. (a)		42,190		744,815
Choa Pharmaceutical Co. (a)		18,245		68,776
Chong Kun Dang Pharmaceutical Corp.		3,509		287,591
Chongkundang Holdings Corp.		1,995		188,858
CJ Freshway Corp.		1,715		121,544
CNK International Co., Ltd. (a)		16,071		—
Com2uSCorp. (a) (b)		7,033		710,768
Corentec Co., Ltd. (a)		2,748		34,920
Cosmax BTI, Inc. (b)		6,374		373,454
Cosmax, Inc. (b)		4,665		732,046
Crown Confectionery Co., Ltd.		280		129,427
CrucialTec Co., Ltd. (a) (b)		6,416		85,908
CrystalGenomics, Inc. (a)		5,398		65,372
CTC BIO, Inc. (a)		6,495		85,304
D.I Corp.		9,174		50,073
Dae Han Flour Mills Co., Ltd.		487		76,421
Daeduck GDS Co., Ltd.		3,340		28,399
Daelim Industrial Co., Ltd.		11,253		643,961
Daesang Corp.		15,990		444,564
Daesang Holdings Co., Ltd.		5,029		82,133
Daewon Pharmaceutical Co., Ltd.		9,213		138,680
Daewoo Shipbuilding & Marine Engineering Co., Ltd. (b)		53,940		233,232
Daewoong Pharmaceutical Co., Ltd.		1,740		105,509
Daou Technology, Inc.		18,115		336,793
DGB Financial Group, Inc.		39,310		336,929
Digital Power Communications Co., Ltd.		14,087		51,660
Dong-A Socio Holdings Co., Ltd.		4,152		600,200
Dong-A ST Co., Ltd.		4,377		548,735
Dongbu HiTek Co., Ltd. (a) (b)		7,402		90,272
DongKook Pharmaceutical Co., Ltd.		3,220		160,925
Dongkuk Steel Mill Co., Ltd. (a) (b)		53,355		261,645
Dongsung Finetec Co., Ltd.		4,368		17,974
Dongwha Pharm Co., Ltd.		31,566		219,135
Dongwon F&B Co., Ltd.		410		137,418
Dongwon Industries Co., Ltd.		1,109		250,165
Doosan Corp.		6,065		457,765
Doosan Heavy Industries & Construction Co., Ltd.		21,613		379,709
Doosan Infracore Co., Ltd. (a) (b)		57,070		228,514
Eo Technics Co., Ltd. (b)		4,992		531,322
Eugene Investment & Securities Co., Ltd. (a) (b)		110,112		252,613
Eugene Technology Co., Ltd.		3,947		43,760
Eusu Holdings Co., Ltd. (a)		6,688		44,376
Fila Korea, Ltd.		6,806		547,939
Gamevil, Inc. (a) (b)		3,298		217,982
GemVax & Kael Co., Ltd. (a) (b)		13,121		252,338
Genexine Co., Ltd. (a)		1,498		119,963
Genic Co., Ltd. (a)		3,084		79,300
GOLFZON Co., Ltd.		2,223		166,647
GOLFZONYUWONHOLDINGS Co., Ltd.		10,848		66,149
Grand Korea Leisure Co., Ltd. (b)		13,600		280,687
Green Cross Cell Corp. (a)		1,803		70,041
Green Cross Corp.		3,974		620,223
Green Cross Holdings Corp.		13,067		467,495
GS Engineering & Construction Corp. (a) (b)		24,981		420,771
GS Home Shopping, Inc.		2,444		348,086
Halla Holdings Corp.		2,637		144,832
Hana Tour Service, Inc.		4,537		444,975
Hanall Biopharma Co., Ltd. (a)		16,083		180,369
Hancom, Inc.		6,267		125,067
Hanil Cement Co., Ltd.		1,693		152,327
Hanil E-Hwa Co., Ltd.		3,491		45,106
Hanjin Heavy Industries & Construction Co., Ltd. (a) (b)		36,953		122,909
Hanjin Kal Corp. (b)		19,921		331,295
Hanjin Shipping Co., Ltd. (a)		68,905		213,611
Hanjin Transportation Co., Ltd.		4,089		161,809

93

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Hankook Shell Oil Co., Ltd.		295	$	118,624
Hanmi Pharm Co., Ltd. (a)		449		278,770
Hanmi Semiconductor Co., Ltd. (b)		5,667		60,413
Hansol Chemical Co., Ltd. (b)		2,692		142,572
Hansol Holdings Co., Ltd. (a)		46,716		275,702
Hansol Paper Co., Ltd. (a)		24,633		432,766
Hansol Technics Co., Ltd. (a)		12,444		304,056
Hanwha Investment & Securities Co., Ltd.		134,285		449,506
Hanwha Techwin Co., Ltd. (a) (b)		17,572		532,757
Harim Co., Ltd. (a) (b)		12,639		44,841
Heung-A Shipping Co., Ltd. (b)		40,991		66,247
Hite Jinro Co., Ltd.		31,848		635,575
HLB, Inc. (a) (b)		16,363		301,429
Humax Co., Ltd.		31,767		460,568
Humedix Co., Ltd. (a)		1,456		76,739
Huons Co., Ltd.		4,185		327,291
Hwa Shin Co., Ltd.		3,314		17,862
Hyundai BNG Steel Co., Ltd.		2,535		21,079
Hyundai C&F, Inc. (a)		1,675		43,855
Hyundai Corp.		2,433		59,344
Hyundai Elevator Co., Ltd. (a) (b)		7,956		408,470
Hyundai Engineering Plastics Co., Ltd.		5,234		49,102
Hyundai Greenfood Co., Ltd.		300		6,345
Hyundai Home Shopping Network Corp.		3,900		384,163
Hyundai Hy Communications & Network Co., Ltd.		7,640		22,675
Hyundai Livart Furniture Co., Ltd.		1,915		57,162
Hyundai Merchant Marine Co., Ltd. (a) (b)		48,890		172,202
Hyundai Mipo Dockyard Co., Ltd. (a)		3,916		174,000
Hyundai Rotem Co., Ltd. (a) (b)		24,006		299,934
Hyundai Securities Co., Ltd. (b)		85,532		473,415
i-SENS, Inc. (a)		2,605		75,647
Il Dong Pharmaceutical Co., Ltd.		9,114		195,875
Iljin Display Co., Ltd.		5,849		27,236
Ilyang Pharmaceutical Co., Ltd. (a)		8,219		343,466
iMarketKorea, Inc.		8,028		173,219
InBody Co., Ltd.		2,636		130,389
Innox Corp. (a)		3,574		39,777
Inscobee, Inc. (a)		23,015		30,914
Interojo Co., Ltd.		3,534		114,530
Interpark Holdings Corp.		31,876		300,396
iNtRON Biotechnology, Inc. (a) (b)		4,777		221,220
IS Dongseo Co., Ltd.		6,285		238,525
JB Financial Group Co., Ltd. (b)		300,668		1,410,323
Jeil Pharmaceutical Co.		6,630		217,410
Jenax, Inc. (a)		7,184		104,156
JoyCity Corp. (a)		1,504		37,582
Jusung Engineering Co., Ltd. (a)		8,171		54,912
JW Pharmaceutical Corp.		5,886		183,224
JYP Entertainment Corp. (a)		12,633		49,345
KB Insurance Co., Ltd.		39,693		988,474
KCP Co., Ltd. (a)		6,479		146,151
Kginicis Co., Ltd.		16,832		234,705
KGMobilians Co., Ltd.		3,017		36,794
KH Vatec Co., Ltd. (b)		6,034		86,968
Koh Young Technology, Inc.		2,894		95,393
Kolao Holdings (b)		16,848		147,997
Kolon Corp. (b)		3,883		254,992
Kolon Industries, Inc.		8,954		479,563
Kolon Life Science, Inc. (b)		1,977		334,685
Komipharm International Co., Ltd. (a) (b)		13,859		457,416
KONA I Co., Ltd.		6,103		178,528
Korea Electric Terminal Co., Ltd. (b)		2,575		215,654
Korea Kolmar Co., Ltd. (b)		8,831		714,735
Korea Kolmar Holdings Co., Ltd.		2,101		116,468
Korea Line Corp. (a)		3,959		64,152
Korea PetroChemical Ind Co., Ltd.		1,424		208,885
Korea Real Estate Investment & Trust Co., Ltd.		52,963		127,829
Korea United Pharm, Inc.		7,013		104,069
Korean Reinsurance Co.		91,974		1,109,916
Kortek Corp. (b)		8,120		81,023
KT Skylife Co., Ltd.		15,075		222,419
Ktis Corp.		13,930		56,549
Kumho Industrial Co., Ltd. (a) (b)		17,115		216,027
Kumho Petrochemical Co., Ltd.		9,681		430,157
Kumho Tire Co., Inc. (a) (b)		62,967		361,407
Kwang Dong Pharmaceutical Co., Ltd.		17,461		166,040
KyungDong City Gas Co., Ltd.		522		39,710
Kyungdong Pharm Co., Ltd.		6,960		116,341
LEENO Industrial, Inc.		3,472		138,874
LF Corp. (b)		12,496		287,742
LG Hausys, Ltd. (b)		3,840		479,775
LG Innotek Co., Ltd.		6,274		527,047
LG International Corp. (b)		37,668		1,085,820
LG Life Sciences, Ltd. (a)		5,091		263,114
Lock&Lock Co., Ltd.		3,403		35,842
Loen Entertainment, Inc.		15		1,075
Lotte Food Co., Ltd. (b)		742		600,536
LOTTE Himart Co., Ltd.		4,268		214,756
LS Corp.		12,658		435,589
LS Industrial Systems Co., Ltd.		11,157		437,697
Lumens Co., Ltd. (b)		15,059		55,032
Lutronic Corp.		2,982		114,952
Macrogen, Inc. (a)		3,391		100,352
Maeil Dairy Industry Co., Ltd.		1,519		57,260
Magnachip Semiconductor Corp. (a) (b)		24,057		127,262
Mando Corp.		2,922		412,427
Medipost Co., Ltd. (a) (b)		4,254		351,189
MegaStudy Co., Ltd.		3,982		140,765
MegaStudyEdu Co., Ltd. (a)		2,304		121,041
Melfas, Inc. (a)		105		457
Meritz Financial Group, Inc.		32,413		359,361
Meritz Fire & Marine Insurance Co., Ltd.		54,062		744,618
Meritz Securities Co., Ltd.		1,280		4,361
Mirae Asset Securities Co., Ltd.		46,182		850,737
Mirae Corp. (a) (b)		198,736		79,152
Modetour Network, Inc.		3,116		89,556
Muhak Co., Ltd. (a)		6,159		200,651
Naturalendo Tech Co., Ltd. (a) (b)		10,841		192,310
Neowiz Games Corp. (a) (b)		11,816		162,747
NEPES Corp. (a)		5,915		30,166
Nexen Tire Corp.		26,331		277,334
NH Investment & Securities Co., Ltd.		3		26
NHN Entertainment Corp. (a) (b)		10,581		513,461
NICE Holdings Co., Ltd.		5,453		101,149

94

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
NongShim Co., Ltd.		2,785	$	1,043,885
OCI Co., Ltd. (b)		7,393		472,880
OCI Materials Co., Ltd.		1,364		135,405
Opto Device Technology Co., Ltd.		6,133		42,367
Osstem Implant Co., Ltd. (a)		3,085		213,112
Pan Ocean Co., Ltd. (a)		420		1,322
Paradise Co., Ltd. (a) (b)		24,557		369,648
Partron Co., Ltd.		24,662		207,594
Pharmicell Co., Ltd. (a)		9,968		35,832
Poongsan Corp.		18,493		434,508
Posco ICT Co., Ltd.		8,051		34,812
Power Logics Co., Ltd. (a)		15,785		59,435
Redrover Co., Ltd. (a)		11,720		86,359
S&T Dynamics Co., Ltd.		7,422		86,718
S-Energy Co., Ltd.		35		237
Sajo Industries Co., Ltd. (a)		1,245		71,777
Sam Yung Trading Co., Ltd.		5,677		116,924
Samchully Co., Ltd.		500		43,708
Samchuly Bicycle Co., Ltd.		5,287		77,780
Samjin Pharmaceutical Co., Ltd.		10,206		202,370
Samkwang Glass		991		80,460
Samlip General Foods Co., Ltd.		5		1,179
Samsung Engineering Co., Ltd. (a) (b)		15,560		193,082
Samsung Fine Chemicals Co., Ltd. (b)		14,511		440,571
Samyang Holdings Corp. (b)		3,911		530,339
Sansung Life & Science Co., Ltd. (a)		7,428		189,414
Sapphire Technology Co., Ltd. (a) (b)		2,719		25,160
Schnell Biopharmaceuticals, Inc. (a)		38,640		105,617
SeAH Steel Corp.		675		30,913
Sebang Co., Ltd.		2,648		38,166
Seegene, Inc. (a) (b)		13,639		440,268
Seobu T&D (a)		4,594		85,411
Seoul Semiconductor Co., Ltd. (a)		23,445		313,920
SEOWONINTECH Co., Ltd.		2,961		29,293
Seoyon Co., Ltd.		4,481		48,534
SFA Engineering Corp. (b)		21,483		906,003
Silicon Works Co., Ltd.		1,893		62,156
Silla Co., Ltd.		1,605		22,517
Sindoh Co., Ltd.		860		36,562
SK Chemicals Co., Ltd.		8,013		496,136
SK Communications Co., Ltd. (a) (b)		5,933		22,213
SK Networks Co., Ltd. (b)		69,740		326,530
SKC Co., Ltd.		13,957		402,325
SM Culture & Contents Co., Ltd. (a)		15,846		39,326
SM Entertainment Co. (a) (b)		9,023		330,893
Soulbrain Co., Ltd. (b)		7,487		259,560
Suheung Co., Ltd.		1,565		56,658
SundayToz Corp. (a) (b)		11,569		122,345
Sungshin Cement Co., Ltd. (a)		7,312		57,870
Sungwoo Hitech Co., Ltd.		28,539		218,810
Suprema, Inc. (a)		3,322		46,180
Synopex, Inc. (a)		30,644		32,668
Taekwang Industrial Co., Ltd. (b)		522		485,250
Tera Semicon Co., Ltd. (a)		2,696		50,584
Tongyang Life Insurance Co., Ltd.		7,868		78,173
Tongyang, Inc. (a)		135,510		320,125
Tovis Co., Ltd.		7,672		55,354
Value Added Technologies Co., Ltd.		3,675		123,957
Vieworks Co., Ltd.		1,675		63,640
ViroMed Co., Ltd. (a) (b)		5,068		795,718
Webzen, Inc. (a) (b)		12,528		252,686
WeMade Entertainment Co., Ltd. (a) (b)		5,693		181,100
Whanin Pharmaceutical Co., Ltd.		8,773		146,273
Wins Co., Ltd.		3,998		34,063
WiSoL Co., Ltd.		5,717		76,548
Wonik IPS Co., Ltd. (a) (b)		45,483		440,264
Woojeon & Handan Co., Ltd. (a)		8,315		8,261
Woongjin Thinkbig Co., Ltd. (a)		8,267		71,915
YG Entertainment, Inc. (b)		6,775		257,410
Yuanta Securities Korea Co., Ltd. (a) (b)		75,977		238,127
Yuhan Corp.		25		5,810
Yungjin Pharmaceutical Co., Ltd. (a)		54,068		98,217
				60,200,024
SPAIN — 1.1%
Applus Services SA		34,797		315,630
Axiare Patrimonio SOCIMI SA		22,185		318,114
Baron de Ley (a)		981		118,288
Construcciones y Auxiliar de Ferrocarriles SA		2,269		629,760
Euskaltel SA (a) (e)		31,809		400,137
Faes Farma SA		252,892		758,218
Hispania Activos Inmobiliarios SA (a)		24,770		352,490
Indra Sistemas SA (a) (b)		44,875		422,594
Lar Espana Real Estate Socimi SA (b)		16,990		174,596
Let’s GOWEX SA (a) (b)		9,561		—
NH Hotel Group SA (a)		57,822		316,573
Obrascon Huarte Lain SA		48,802		279,382
Pharma Mar SA (a) (b)		177,168		483,069
Promotora de Informaciones SA Class A (a) (b)		45,657		258,897
Sacyr SA (b)		117,750		232,032
Saeta Yield SA		13,926		130,099
Talgo SA (a) (e)		37,394		231,337
Tubacex SA (b)		161,541		307,094
Tubos Reunidos SA (b)		216,841		137,799
Vidrala SA		26,159		1,322,789
				7,188,898
SWEDEN — 3.2%
AddTech AB Class B		26,092		444,894
AF AB Class B		29,887		509,603
Arcam AB (a) (b)		8,564		187,419
Avanza Bank Holding AB		10,188		444,107
B&B Tools AB Class B		13,461		197,590
Beijer Alma AB		9,115		237,319
Beijer Ref AB		15,852		376,999
Bilia AB Class A		13,265		302,100
BioGaia AB Class B		3,934		131,357
Bufab Holding AB		23,311		153,460
Byggmax Group AB		27,743		286,295
Clas Ohlson AB Class B		13,731		249,193
Cloetta AB Class B (a)		110,716		367,714
Com Hem Holding AB		41,760		380,420
D Carnegie & Co. AB (a)		9,521		75,948
Duni AB		13,757		230,899
Eltel AB (a) (b) (e)		22,426		224,776
Evolution Gaming Group AB (a) (e)		10,320		375,190
Fingerprint Cards AB Class B (a) (b)		25,005		1,752,895
Haldex AB		48,996		462,029

95

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Hemfosa Fastigheter AB		47,797	$	534,347
HIQ International AB (a)		32,364		195,783
Hoist Finance AB (a) (e)		17,435		183,023
Holmen AB Class B		25,084		778,352
Industrial & Financial Systems Class B		10,599		458,252
Indutrade AB		12,774		728,051
Investment AB Oresund		7,831		206,211
Inwido AB		31,168		410,368
JM AB		24,922		747,016
KNOW IT AB		23,613		158,249
Kungsleden AB		68,783		493,603
Lagercrantz Group AB Class B		23,299		219,708
Lifco AB Class B (b)		17,803		447,683
Lindab International AB		20,944		156,261
Loomis AB Class B		20,472		642,285
Medivir AB Class B (a)		11,331		88,034
Modern Times Group MTG AB Class B (b)		20,261		520,788
Mycronic AB		15,732		153,483
NetEnt AB (a)		12,996		762,285
New Wave Group AB Class B (b)		168,556		689,771
Nolato AB Class B		12,179		371,989
Nordnet AB Class B		52,445		255,052
Opus Group AB (b)		86,725		64,293
Orexo AB (a)		7,875		58,615
Proffice AB Class B		65,505		192,694
Qliro Group AB (a)		95,975		137,748
Ratos AB Class B (b)		55,782		323,089
Recipharm AB Class B (b)		8,539		128,127
Sagax AB Class B		36,175		307,873
SAS AB (a) (b)		46,445		134,422
SkiStar AB		10,861		159,747
Sweco AB Class B (b)		25,164		370,867
Systemair AB		11,821		150,030
Tethys Oil AB		31,334		213,710
Thule Group AB (e)		27,750		381,000
Vostok New Ventures, Ltd. (a) (b)		21,653		139,977
Wihlborgs Fastigheter AB		124,118		2,517,517
				21,870,510
SWITZERLAND — 2.7%
AFG Arbonia-Forster Holding AG (a)		20,316		204,987
APG SGA SA		301		116,295
Ascom Holding AG		21,035		334,122
Autoneum Holding AG (a)		1,420		287,121
Basilea Pharmaceutica, Ltd. (a)		8,657		832,836
Belimo Holding AG (b)		874		2,139,161
Bell AG		79		267,542
Bobst Group SA		2,767		115,960
Bossard Holding AG Class A (a) (b)		2,005		218,727
Burckhardt Compression Holding AG (b)		1,379		424,308
Cembra Money Bank AG (a)		9,976		641,813
Comet Holding AG (a)		339		246,376
Conzzeta AG		191		121,927
EFG International AG (a) (b)		19,331		203,738
Evolva Holding SA (a) (b)		104,924		120,542
Gategroup Holding AG (a)		8,027		353,637
Gurit Holding AG (a)		64		36,316
HBM Healthcare Investments AG Class A (a)		3,115		317,413
Huber & Suhner AG		6,282		290,880
Implenia AG		4,999		255,194
Inficon Holding AG (a)		939		300,414
Interroll Holding AG (a)		402		343,969
Intershop Holding AG		252		101,329
Kardex AG (a)		4,062		316,519
Komax Holding AG (a)		2,205		429,325
Kudelski SA (b)		50,968		735,752
Kuoni Reisen Holding AG (a) (b)		1,602		447,312
Lastminute.com NV (a)		1,573		20,586
LEM Holding SA		272		205,155
MCH Group AG		424		26,473
Metall Zug AG		62		156,146
Meyer Burger Technology AG (a) (b)		37,986		226,550
Micronas Semiconductor Holding AG (a)		37,739		278,236
Mobilezone Holding AG		14,325		205,358
Mobimo Holding AG (a)		3,089		687,233
Myriad Group AG (a) (b)		27,454		70,486
Newron Pharmaceuticals SpA (a)		3,453		88,308
Orascom Development Holding AG (a)		5,304		54,312
Oriflame Holding AG (a) (b)		19,771		318,940
Orior AG (a)		5,739		349,156
Phoenix Mecano AG		109		50,825
Rieter Holding AG (a)		293		55,029
Santhera Pharmaceutical Holding AG (a) (b)		2,136		191,408
Schmolz + Bickenbach AG (a)		184,425		92,120
Schweiter Technologies AG		333		281,936
Siegfried Holding AG (a) (b)		1,736		339,396
Swissquote Group Holding SA		5,511		139,014
Tecan Group AG		4,654		757,379
U-Blox AG (a)		2,849		610,500
Valiant Holding AG		6,593		777,197
Valora Holding AG (a)		6,056		1,264,439
Vaudoise Assurances Holding SA		444		230,206
Wizz Air Holdings PLC (a) (e)		16,988		454,952
Ypsomed Holding AG (a)		1,077		155,901
Zehnder Group AG		2,557		98,218
				18,388,974
UNITED ARAB EMIRATES — 0.1%
Gulf Marine Services PLC		83,026		124,667
Lamprell PLC (a)		116,077		170,230
NMC Health PLC		133		1,648
				296,545
UNITED KINGDOM — 9.1%
4imprint Group PLC		8,181		153,136
888 Holdings PLC		77,554		208,610
A.G.Barr PLC		45,982		361,229
Acacia Mining PLC		38,325		101,677
Aldermore Group PLC (a)		60,721		207,185
Allied Minds PLC (a) (b)		89,944		530,274
AO World PLC (a) (b)		84,860		195,242
APR Energy PLC (a)		21,512		55,169
Arrow Global Group PLC		67,827		263,671
Assura PLC		386,239		314,811
Avon Rubber PLC		4,294		62,656
Betfair Group PLC		90		5,173
Big Yellow Group PLC		57,922		688,092
Bloomsbury Publishing PLC		20,942		46,454

96

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bodycote PLC		48,709	$	408,139
Bovis Homes Group PLC		574		8,587
Brammer PLC		55,556		149,234
Brewin Dolphin Holdings PLC		109,104		498,667
Cairn Energy PLC (a)		249,484		579,886
Cape PLC		38,447		133,168
Card Factory PLC		520		2,799
Centamin PLC		460,143		436,764
Chemring Group PLC		190,626		532,426
Chesnara PLC		50,166		247,698
Cineworld Group PLC		434		3,598
Circassia Pharmaceuticals PLC (a)		88,120		414,707
Clarkson PLC		12,070		400,452
Coats Group PLC (a)		571,578		208,506
Communisis PLC		51,553		31,153
Computacenter PLC		32,324		405,913
Concentric AB		22,414		284,475
Connect Group PLC		70,245		174,196
Consort Medical PLC		11,594		197,371
Countrywide PLC (b)		67,008		394,460
Cranswick PLC		20,786		587,608
Crest Nicholson Holdings PLC		863		7,085
Daejan Holdings PLC		2,222		207,635
Dairy Crest Group PLC (b)		63,731		638,745
Darty PLC		348,981		529,794
De La Rue PLC		37,167		242,814
Debenhams PLC		459,433		496,018
Dechra Pharmaceuticals PLC		28,436		458,096
Devro PLC		61,739		263,892
Dialight PLC (b)		12,361		81,985
Dignity PLC		14,873		560,090
Diploma PLC		47,776		535,874
Domino’s Pizza Group PLC		702		10,885
Doric Nimrod Air Three, Ltd. Preference Shares		53,849		82,940
Drax Group PLC (b)		161,911		583,238
e2v technologies PLC		102,726		340,289
Electrocomponents PLC		172,636		606,350
Elementis PLC		143,003		482,879
Empiric Student Property PLC		18,138		30,343
EnQuest PLC (a)		296,326		82,983
Enterprise Inns PLC (a)		429,970		704,711
esure Group PLC		112,321		419,172
Exova Group PLC		56,689		120,944
F&C Commercial Property Trust, Ltd.		280,080		554,817
FDM Group Holdings PLC		39,983		307,914
Fenner PLC		164,528		346,772
Fidessa Group PLC		18,896		557,852
Findel PLC (a)		30,077		88,661
Flybe Group PLC (a)		120,489		162,494
Foxtons Group PLC		94,740		262,518
Fuller Smith & Turner PLC Class A		19,816		350,482
Galliford Try PLC		216		4,855
Games Workshop Group PLC		6,081		52,432
Gem Diamonds, Ltd.		95,922		185,914
Genel Energy PLC (a)		62,332		156,181
Genus PLC		33,418		765,419
Go-Ahead Group PLC		17,442		686,140
Grainger PLC		169,791		582,594
Greene King PLC		441		6,045
Greggs PLC		50,864		985,086
Gulf Keystone Petroleum, Ltd. (a) (b)		424,172		98,467
Halfords Group PLC		85,378		422,063
Hansteen Holdings PLC (b)		171,715		291,307
Headlam Group PLC		19,331		142,887
Helical Bar PLC		40,815		285,596
Hilton Food Group PLC		30,685		242,415
Hogg Robinson Group PLC		30,617		32,096
Home Retail Group PLC		309,918		454,733
HomeServe PLC		125,340		764,264
Hunting PLC		64,391		289,938
Huntsworth PLC		1,694		986
Imagination Technologies Group PLC (a) (b)		86,521		170,244
Indivior PLC		1,827		5,057
Intelligent Energy Holdings PLC (a)		47,766		56,322
International Personal Finance PLC		86,309		367,639
Interserve PLC		93,514		717,407
IP Group PLC (a)		217,464		657,066
ITE Group PLC		303,714		706,159
Ithaca Energy, Inc. (a)		157,510		64,632
J D Wetherspoon PLC (b)		129,700		1,430,869
James Fisher & Sons PLC		19,697		339,087
JD Sports Fashion PLC		140		2,148
John Menzies PLC		20,611		126,071
Johnston Press PLC (a)		28,320		21,027
Just Retirement Group PLC		63,010		154,165
KCOM Group PLC		216,514		368,584
Keller Group PLC		55,432		680,980
Kier Group PLC		399		8,180
Ladbrokes PLC		353,571		623,791
Laird PLC		198,919		1,040,520
Lancashire Holdings, Ltd. (b)		60,344		558,550
Lavendon Group PLC		78,895		172,390
LondonMetric Property PLC		140,835		340,426
Lookers PLC		129,233		352,382
Low & Bonar PLC		88,126		86,214
LSL Property Services PLC		39,974		167,915
Luxfer Holdings PLC ADR (b)		8,856		87,143
Marshalls PLC		102,422		490,619
Marston’s PLC		146,327		359,093
McBride PLC (a)		145,469		354,843
McColl’s Retail Group PLC		61,647		122,663
McKay Securities PLC		53,315		207,454
Mears Group PLC		33,933		234,065
Micro Focus International PLC		188		4,420
Mitie Group PLC		254,797		1,167,946
Moneysupermarket.com Group PLC		2,165		11,711
Morgan Advanced Materials PLC		176,732		644,441
Morgan Sindall Group PLC		65,162		710,713
Mothercare PLC (a)		59,364		192,493
Mucklow A & J Group PLC		140		1,042
N Brown Group PLC (b)		69,808		318,239
NCC Group PLC		74,011		327,254
Northgate PLC		48,088		278,901
Novae Group PLC		26,289		345,626
OneSavings Bank PLC		59,459		309,971
Ophir Energy PLC (a)		267,742		388,508
Oxford Instruments PLC		23,309		263,504
Pace PLC		171,249		1,096,140
Paragon Group of Cos. PLC		129,166		672,985
PayPoint PLC		74,615		1,013,420
Pendragon PLC		517,330		356,465

97

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Petropavlovsk PLC (a) (b)		1,006,280	$	96,702
Pets at Home Group PLC		952		3,870
Photo-Me International PLC		49,959		111,188
Polypipe Group PLC		71,534		367,965
Poundland Group PLC		71,983		220,361
Premier Farnell PLC		361,977		522,848
Premier Foods PLC (a)		445,587		257,775
Premier Oil PLC (a)		222,860		159,310
Rank Group PLC		58,767		246,858
Rathbone Brothers PLC		18,968		615,053
Raven Russia, Ltd. (a)		155,210		92,649
Redefine International PLC		317,333		233,859
Redrow PLC		1,295		8,973
Renewables Infrastructure Group, Ltd.		97,736		147,366
Renishaw PLC		182		5,043
Renold PLC (a)		83,064		69,784
Ricardo PLC		15,340		204,504
Robert Walters PLC		47,273		250,832
RPC Group PLC		735		9,024
RPS Group PLC		200,640		700,864
Safestore Holdings PLC		78,211		411,994
Savills PLC		43,482		567,821
Schroder Real Estate Investment Trust, Ltd.		33,806		29,647
SDL PLC		45,993		282,680
Senior PLC		459,031		1,554,072
Serco Group PLC (a)		371,542		517,497
Shanks Group PLC		410,260		583,518
SIG PLC		310,840		657,899
Skyepharma PLC (a)		45,329		264,068
Soco International PLC		99,258		215,421
Speedy Hire PLC		185,036		113,862
Spire Healthcare Group PLC (e)		805		3,713
Spirent Communications PLC		332,976		350,903
SSP Group PLC		1,290		6,179
St Ives PLC		61,545		202,966
ST Modwen Properties PLC		70,704		432,370
Stallergenes Greer PLC (a)		421		14,635
SThree PLC		57,199		274,836
Stobart Group, Ltd.		114,482		180,546
Stock Spirits Group PLC		88,940		182,869
SuperGroup PLC (a)		19,852		481,617
SVG Capital PLC (a)		14,916		108,319
Synthomer PLC		126,342		592,351
Ted Baker PLC		189		8,324
Telecom Plus PLC (b)		29,946		472,712
Topps Tiles PLC		26,095		60,769
Trinity Mirror PLC		104,397		255,425
Tritax Big Box REIT PLC		133,729		255,643
Tullett Prebon PLC		219,714		1,204,996
Tyman PLC (b)		61,872		275,403
U & I Group PLC		54,423		180,482
UNITE Group PLC		810		7,832
Urban & Civic PLC		36,758		152,510
Vectura Group PLC (a)		153,132		397,234
Vesuvius PLC		29,417		144,425
Vitec Group PLC		11,376		101,022
Wilmington PLC		21,614		83,903
Wincanton PLC (a)		227,480		654,640
Workspace Group PLC		646		9,126
Xaar PLC (b)		30,981		191,784
Xchanging PLC		114,635		326,094
Zoopla Property Group PLC (e)		139,859		493,701
				62,668,996
UNITED STATES — 0.9%
Alacer Gold Corp. (a)		113,768		202,294
Argonaut Gold, Inc. (a) (b)		66,309		56,805
Atlantic Power Corp. (b)		60,130		118,606
AVG Technologies NV (a) (b)		21,854		438,173
Boart Longyear, Ltd. (a)		2,604		116
Diligent Corp. (a)		58,245		244,032
Eros International PLC (a) (b)		175		1,601
Fleetmatics Group PLC (a) (b)		15,604		792,527
Globant SA (a) (b)		11,898		446,294
IMAX Corp. (a) (c)		25,358		901,223
IMAX Corp. (a) (c)		112		3,980
Mitel Networks Corp. (a)		38,178		293,589
Ormat Technologies, Inc.		1		29
Oxford Immunotec Global PLC (a)		2,739		31,499
Performance Sports Group, Ltd. (a) (b)		23,393		225,275
REC Silicon ASA (a) (b)		901,338		182,582
Sims Metal Management, Ltd. (b)		40,494		213,301
STERIS PLC		9,172		691,018
Stratasys, Ltd. (a) (b)		20,108		472,136
Tahoe Resources, Inc.		85,550		737,192
Thompson Creek Metals Co., Inc. (a) (b)		94,240		19,335
				6,071,607
TOTAL COMMON STOCKS (Cost $789,350,417)				686,385,817
RIGHTS — 0.1%
AUSTRALIA — 0.0% (d)
Tiger Trucking Subsidiary, Inc. (expiring 1/8/16) (a)		1,089		3
ISRAEL — 0.0% (d)
Airport City, Ltd. (expiring 1/5/16) (a)		3,907		12,922
SOUTH KOREA — 0.1%
Samsung Engineering Co., Ltd. (expiring 2/12/16) (a)		52,517		288,439
SPAIN — 0.0% (d)
Faes Farma SA (expiring 1/4/16) (a)		252,892		23,076
TOTAL RIGHTS (Cost $217,383)				324,440
SHORT-TERM INVESTMENTS — 17.9%
UNITED STATES — 17.9%
State Street Navigator Securities Lending Prime Portfolio (f) (g)		123,025,946		123,025,946
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (g) (h)		636,569		636,569
TOTAL SHORT-TERM INVESTMENTS (Cost $123,662,515)				123,662,515
TOTAL INVESTMENTS — 117.6% (Cost $913,230,315)				810,372,772
LIABILITIES IN EXCESS OF OTHER ASSETS — (17.6)%				(121,317,200	)
NET ASSETS — 100.0%			$	689,055,572

98

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Amount is less than 0.05% of net assets.

(e) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.7% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(f) Investment of cash collateral for securities loaned

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(h) The rate shown represents the rate at December 31, 2015.

ADR = American Depositary Receipt

REIT = Real Estate Investment Trust

99

SPDR S&P International Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open forward foreign currency contracts were as follows:

Counterparty	Amount Sold	Amount Bought	Settlement Date	Net Unrealized Appreciation/ (Depreciation)
Citibank N.A.	USD    10,739	ILS    41,882	01/05/2016	$	25

Abbreviations:

ILS — Israeli New Shekel

USD — U.S. Dollar

100

SPDR Dow Jones International Real Estate ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AUSTRALIA — 13.2%
Astro Japan Property Group		603,884	$	2,223,140
BGP Holdings PLC (a)		32,410,441		—
BWP Trust (b)		5,568,028		12,801,219
Charter Hall Retail REIT		3,779,255		11,465,819
Dexus Property Group REIT (b)		10,945,677		59,726,454
Gateway Lifestyle		2,690,461		5,931,058
Goodman Group REIT (b)		17,993,031		82,079,501
GPT Group REIT		20,463,669		71,166,276
Investa Office Fund REIT		7,026,372		20,448,148
Scentre Group REIT		60,726,367		185,120,350
Westfield Corp.		21,802,154		150,849,112
				601,811,077
AUSTRIA — 1.1%
BUWOG AG (a)		585,167		12,716,517
CA Immobilien Anlagen AG (a)		837,265		15,307,238
IMMOFINANZ AG (a) (b)		10,264,944		23,427,849
				51,451,604
BELGIUM — 0.8%
Befimmo SA		231,556		13,834,661
Cofinimmo SA		230,323		24,622,170
				38,456,831
BRAZIL — 0.3%
BR Malls Participacoes SA		5,439,940		15,262,770
CANADA — 9.9%
Artis REIT		779,649		7,184,153
Boardwalk REIT		267,032		9,121,495
Brookfield Asset Management, Inc. Class A		9,847,803		309,449,716
Canadian Apartment Properties REIT		719,323		13,898,660
Canadian REIT		411,516		12,460,127
Crombie REIT		438,519		4,040,777
Dream Office REIT		600,432		7,508,102
First Capital Realty, Inc. (b)		1,284,150		16,963,611
H&R REIT		1,554,798		22,441,653
RioCan REIT		1,788,467		30,500,888
Smart REIT		715,931		15,559,684
				449,128,866
FRANCE — 10.5%
Fonciere Des Regions		495,818		44,435,086
Gecina SA		409,475		49,863,504
Klepierre		2,150,753		95,767,520
Mercialys SA		212,178		4,295,162
Unibail-Rodamco SE		1,118,208		284,727,877
				479,089,149
HONG KONG — 8.5%
Champion REIT		25,055,174		12,543,509
Hang Lung Properties, Ltd.		24,089,755		54,830,329
Hongkong Land Holdings, Ltd. (b)		13,413,700		93,895,900
Hysan Development Co., Ltd.		7,133,846		29,225,190
Link REIT		25,691,355		153,813,652
Prosperity REIT		13,244,000		4,767,748
Wheelock & Co., Ltd.		9,261,545		39,017,238
				388,093,566
ITALY — 0.3%
Beni Stabili SIIQ SpA		12,226,326		9,277,099
Immobiliare Grande Distribuzione SIIQ SpA		3,449,209		3,321,605
				12,598,704
JAPAN — 21.8%
Activia Properties, Inc.		6,255		26,674,550
Aeon Mall Co., Ltd.		1,324,140		22,939,505
Daibiru Corp. (b)		659,800		5,501,304
Daiwa Office Investment Corp. (b)		3,725		20,251,465
Frontier Real Estate Investment Corp.		5,644		22,731,768
Fukuoka REIT Corp.		7,817		13,548,730
Global One Real Estate Investment Corp. (b)		2,108		7,587,714
Hankyu REIT, Inc.		6,870		7,310,030
Heiwa Real Estate Co., Ltd.		405,400		4,485,535
Hoshino Resorts REIT, Inc. (b)		873		9,114,992
Hulic Co., Ltd.		5,134,890		45,631,135
Hulic REIT, Inc. (b)		7,873		11,027,894
Japan Excellent, Inc. (b)		14,543		16,054,785
Japan Prime Realty Investment Corp. (b)		9,936		34,112,540
Japan Real Estate Investment Corp.		14,922		72,814,448
Japan Rental Housing Investments, Inc.		18,813		13,355,752
Japan Retail Fund Investment Corp.		29,098		56,166,554
Kenedix Office Investment Corp.		4,634		21,764,911
Kenedix Residential Investment Corp. (b)		3,981		9,861,906
MCUBS MidCity Investment Corp.		3,033		9,316,210
Mitsui Fudosan Co., Ltd.		11,303,000		287,143,838
Mori Hills REIT Investment Corp. (b)		14,030		18,077,643
Mori Trust Sogo REIT, Inc. (b)		11,569		19,840,265
Nippon Building Fund, Inc. (b)		16,097		77,209,934
NTT Urban Development Corp.		1,249,831		12,155,969
Orix JREIT, Inc. (b)		26,444		34,380,827
Premier Investment Corp. (b)		12,786		13,105,398
Tokyu Fudosan Holdings Corp.		5,840,300		36,994,959
Tokyu REIT, Inc. (b)		10,708		13,574,712
Top REIT, Inc.		2,018		7,666,370
United Urban Investment Corp.		31,357		42,749,474
				993,151,117
NETHERLANDS — 1.5%
Atrium European Real Estate, Ltd. (a)		1,938,654		7,518,277
Eurocommercial Properties NV		542,782		23,464,091
Vastned Retail NV		219,527		10,099,297
Wereldhave NV		458,595		25,755,480
				66,837,145
NEW ZEALAND — 0.9%
Argosy Property, Ltd. (b)		9,149,456		7,171,957
Goodman Property Trust		11,658,014		9,896,535
Kiwi Property Group, Ltd.		14,426,935		13,333,517
Precinct Properties New Zealand, Ltd. (b)		11,539,019		9,874,515
				40,276,524
PHILIPPINES — 2.5%
Ayala Land, Inc.		67,001,000		49,052,905
Robinsons Land Corp.		9,920,900		5,797,997

101

SPDR Dow Jones International Real Estate ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SM Prime Holdings, Inc.		131,687,400	$	60,729,287
				115,580,189
SINGAPORE — 6.7%
Ascendas REIT (b)		23,326,731		37,489,830
Cambridge Industrial Trust (b)		11,726,879		4,670,417
CapitaLand Commercial Trust, Ltd. (b)		22,952,776		21,842,066
CapitaLand Mall Trust		30,267,368		41,177,190
CapitaLand, Ltd. (b)		28,572,099		67,470,152
Frasers Commercial Trust (b)		6,625,994		5,931,704
Global Logistic Properties, Ltd. (b)		34,567,800		52,388,376
GuocoLand, Ltd. (b)		2,750,466		3,499,518
Keppel REIT (b)		19,886,300		13,036,520
Mapletree Logistics Trust		17,116,149		11,944,445
Starhill Global REIT		15,589,582		8,296,715
Suntec REIT (b)		28,785,551		31,450,748
United Industrial Corp., Ltd. (b)		2,278,331		4,625,238
				303,822,919
SOUTH AFRICA — 1.3%
Growthpoint Properties, Ltd.		25,020,979		37,510,073
Hyprop Investments, Ltd.		2,393,268		15,962,328
SA Corporate Real Estate Fund Nominees Pty, Ltd.		19,145,960		5,683,677
				59,156,078
SPAIN — 0.0% (c)
Martinsa Fadesa SA (a)		35,998		—
SWEDEN — 1.5%
Castellum AB		1,958,965		28,046,293
Fabege AB		1,600,894		26,603,711
Kungsleden AB		1,787,635		12,828,496
				67,478,500
SWITZERLAND — 2.3%
PSP Swiss Property AG (a) (b)		459,945		40,434,725
Swiss Prime Site AG (a)		794,011		62,267,596
				102,702,321
THAILAND — 0.4%
Central Pattana PCL		15,406,672		20,122,651
UNITED KINGDOM — 16.2%
Big Yellow Group PLC		1,689,168		20,066,700
British Land Co. PLC		11,669,493		135,189,389
Capital & Counties Properties PLC		8,472,735		55,021,977
Derwent London PLC		1,263,397		68,377,085
Grainger PLC		4,765,812		16,352,643
Great Portland Estates PLC		3,919,975		47,838,957
Hammerson PLC		8,942,192		79,079,390
Intu Properties PLC (b)		9,309,740		43,538,724
Land Securities Group PLC		9,135,900		158,487,812
Segro PLC		8,458,026		53,530,232
Shaftesbury PLC		3,166,410		42,679,461
Workspace Group PLC		1,345,368		19,006,462
				739,168,832
TOTAL COMMON STOCKS (Cost $4,282,980,501)				4,544,188,843
RIGHTS — 0.0%(c)
SINGAPORE — 0.0%(c)
Ascendas Real Estate Investment Trust (expiring 1/13/16) (a) (Cost $0)		885,732		38,710
SHORT-TERM INVESTMENTS — 4.0%
MONEY MARKET FUNDS — 4.0%
State Street Navigator Securities Lending Prime Portfolio (d) (e)		175,119,672		175,119,672
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f)		5,272,290		5,272,290
TOTAL SHORT-TERM INVESTMENTS (Cost $180,391,962)				180,391,962
TOTAL INVESTMENTS — 103.7% (Cost $4,463,372,463)				4,724,619,515
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.7)%				(167,573,878	)
NET ASSETS — 100.0%			$	4,557,045,637

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Amount shown represents less than 0.05% of net assets.

(d) Investment of cash collateral for securities loaned

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

NVDR = Non Voting Depositary Receipt

REIT = Real Estate Investment Trust

102

SPDR Dow Jones International Real Estate ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

103

SPDR S&P Global Infrastructure ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 9.1%
Macquarie Atlas Roads Group (a)		107,181	$	317,377
Qube Holdings, Ltd. (a)		214,361		374,300
Sydney Airport		284,035		1,312,225
Transurban Group Stapled Security (b)		448,210		3,414,217
Transurban Group (b) (c)		30,629		233,315
				5,651,434
BRAZIL — 0.8%
CPFL Energia SA ADR (a) (c)		13,401		99,435
Ultrapar Participacoes SA ADR		25,856		394,304
				493,739
CANADA — 6.8%
AltaGas, Ltd. (a)		8,074		179,603
Enbridge, Inc.		50,282		1,665,087
Inter Pipeline, Ltd. (a)		19,988		319,583
Pembina Pipeline Corp. (a)		20,430		443,427
TransCanada Corp. (a)		41,550		1,351,699
Veresen, Inc. (a)		17,383		110,873
Westshore Terminals Investment Corp. (a)		15,771		132,267
				4,202,539
CHILE — 0.6%
Empresa Nacional de Electricidad SA ADR		4,771		176,813
Enersis SA ADR		16,747		203,476
				380,289
CHINA — 4.6%
Beijing Enterprises Water Group, Ltd. (a) (c)		208,000		145,731
CGN Power Co., Ltd. Class H (a) (d)		433,839		162,337
China Longyuan Power Group Corp., Ltd. Class H		133,000		100,392
China Merchants Holdings International Co., Ltd.		460,740		1,465,422
China Resources Power Holdings Co., Ltd.		72,389		140,852
COSCO Pacific, Ltd.		511,180		563,276
Guangdong Investment, Ltd.		120,000		170,010
Huaneng Power International, Inc. ADR		3,697		126,807
				2,874,827
FRANCE — 6.4%
Aeroports de Paris		8,541		994,611
Engie SA		68,180		1,209,094
Groupe Eurotunnel SE		143,855		1,790,850
				3,994,555
GERMANY — 2.5%
E.ON SE		84,425		819,070
Fraport AG Frankfurt Airport Services Worldwide		9,662		618,624
Hamburger Hafen und Logistik AG		6,324		96,589
				1,534,283
HONG KONG — 0.4%
China Gas Holdings, Ltd. (a)		92,000		132,715
Hopewell Highway Infrastructure, Ltd. (a)		269,000		129,812
				262,527
ITALY — 7.4%
Ansaldo STS SpA		31,866		341,660
Atlantia SpA		105,744		2,814,308
Enel SpA		297,556		1,258,031
Societa Iniziative Autostradali e Servizi SpA		18,125		192,954
				4,606,953
JAPAN — 3.6%
Japan Airport Terminal Co., Ltd. (a)		18,900		851,556
Kamigumi Co., Ltd.		68,000		592,410
Mitsubishi Logistics Corp. (a)		43,000		573,715
Sumitomo Warehouse Co., Ltd. (a)		39,000		208,787
				2,226,468
MEXICO — 2.4%
Grupo Aeroportuario del Pacifico SAB de CV ADR		8,482		748,791
Grupo Aeroportuario del Sureste SAB de CV ADR		5,290		744,144
				1,492,935
NETHERLANDS — 0.3%
Koninklijke Vopak NV		3,957		170,521
NEW ZEALAND — 1.5%
Auckland International Airport, Ltd.		242,878		956,077
NORWAY — 0.1%
Golar LNG, Ltd.		5,225		82,503
SINGAPORE — 2.2%
Hutchison Port Holdings Trust (a)		1,412,000		748,360
SATS, Ltd.		170,100		460,426
SIA Engineering Co., Ltd.		68,653		179,055
				1,387,841
SPAIN — 9.5%
Abertis Infraestructuras SA		123,352		1,930,901
Aena SA (c) (d)		19,225		2,201,186
Iberdrola SA		250,146		1,779,855
				5,911,942
SWITZERLAND — 1.2%
Flughafen Zuerich AG		995		748,984
UNITED KINGDOM — 7.0%
BBA Aviation PLC		150,715		420,065
Centrica PLC		214,961		691,008
National Grid PLC		165,420		2,285,743
SSE PLC		41,662		938,278
				4,335,094
UNITED STATES — 33.2%
American Electric Power Co., Inc.		20,708		1,206,655
Cheniere Energy, Inc. (a) (c)		13,845		515,726
Consolidated Edison, Inc.		12,326		792,192
Dominion Resources, Inc. (a)		25,103		1,697,967
Duke Energy Corp.		29,042		2,073,308
Edison International		13,785		816,210
Exelon Corp.		36,398		1,010,773
Kinder Morgan, Inc.		105,416		1,572,807
NextEra Energy, Inc.		19,428		2,018,375
ONEOK, Inc. (a)		12,431		306,549
PG&E Corp.		20,664		1,099,118
PPL Corp. (a)		28,294		965,674
Public Service Enterprise Group, Inc.		21,351		826,070

104

SPDR S&P Global Infrastructure ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Sempra Energy		9,918	$	932,391
Southern Co. (a)		38,333		1,793,601
Spectra Energy Corp. (a)		39,365		942,398
Targa Resources Corp.		2,905		78,609
Wesco Aircraft Holdings, Inc. (a) (c)		15,277		182,866
Williams Cos., Inc.		40,054		1,029,388
Xcel Energy, Inc.		21,432		769,623
				20,630,300
TOTAL COMMON STOCKS (Cost $73,552,497)				61,943,811
SHORT-TERM INVESTMENTS — 8.9%
UNITED STATES — 8.9%
State Street Navigator Securities Lending Prime Portfolio (e) (f)		5,475,594		5,475,594
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g)		61,142		61,142
TOTAL SHORT-TERM INVESTMENTS (Cost $5,536,736)				5,536,736
TOTAL INVESTMENTS — 108.5% (Cost $79,089,233)				67,480,547
LIABILITIES IN EXCESS OF OTHER ASSETS — (8.5)%				(5,290,981	)
NET ASSETS — 100.0%			$	62,189,566

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(c) Non-income producing security

(d) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 3.8% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) Investment of cash collateral for securities loaned

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

105

SPDR S&P Global Natural Resources ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 8.4%
Amcor, Ltd.		907,378	$	8,872,589
BHP Billiton, Ltd.		1,846,060		23,987,783
Newcrest Mining, Ltd. (a)		515,037		4,860,055
South32, Ltd. (a)		3,588,877		2,780,808
Woodside Petroleum, Ltd.		113,682		2,375,412
				42,876,647
AUSTRIA — 0.4%
voestalpine AG		73,239		2,255,115
BRAZIL — 1.3%
Fibria Celulose SA ADR		170,162		2,159,356
Petroleo Brasileiro SA ADR (a)(b)		242,623		1,043,279
Vale SA ADR (b)		1,020,076		3,356,050
				6,558,685
CANADA — 9.7%
Agrium, Inc. (b)		109,829		9,777,951
Barrick Gold Corp.		786,018		5,800,813
Canadian Natural Resources, Ltd.		175,726		3,822,936
First Quantum Minerals, Ltd. (b)		472,364		1,761,461
Goldcorp, Inc.		560,398		6,450,770
Imperial Oil, Ltd.		41,481		1,346,169
Potash Corp. of Saskatchewan, Inc.		642,311		10,996,364
Silver Wheaton Corp.		272,699		3,376,591
Suncor Energy, Inc.		232,216		5,971,316
				49,304,371
CHILE — 0.3%
Antofagasta PLC (b)		263,604		1,823,352
CHINA — 1.0%
CNOOC, Ltd.		2,578,000		2,684,394
PetroChina Co., Ltd. Class H		3,380,000		2,215,493
				4,899,887
COLOMBIA — 0.1%
Ecopetrol SA ADR		39,022		273,544
FINLAND — 2.3%
Stora Enso Oyj Class R		437,798		3,990,116
UPM-Kymmene Oyj		409,286		7,660,585
				11,650,701
FRANCE — 3.4%
TOTAL SA		388,083		17,396,275
GERMANY — 1.9%
KS AG		147,123		3,774,942
ThyssenKrupp AG		294,147		5,860,215
				9,635,157
INDIA — 0.8%
Reliance Industries, Ltd. GDR (c)		126,994		3,886,016
IRELAND — 0.9%
Smurfit Kappa Group PLC		177,996		4,551,625
ISRAEL — 0.3%
Israel Chemicals, Ltd.		395,878		1,608,520
ITALY — 1.3%
Eni SpA		432,080		6,477,286
JAPAN — 5.3%
JFE Holdings, Inc. (b)		389,600		6,218,313
Nippon Steel & Sumitomo Metal Corp. (b)		641,500		12,883,861
Oji Holdings Corp. (b)		758,000		3,081,275
Sumitomo Metal Mining Co., Ltd.		372,000		4,575,203
				26,758,652
LUXEMBOURG — 0.6%
ArcelorMittal (b)		685,247		2,900,864
MEXICO — 0.2%
Fresnillo PLC		126,306		1,318,030
NETHERLANDS — 3.0%
OCI NV (a)		49,524		1,226,593
Royal Dutch Shell PLC Class A		626,521		14,091,533
				15,318,126
NORWAY — 2.3%
Norsk Hydro ASA		921,143		3,447,775
Statoil ASA		168,843		2,359,626
Yara International ASA		135,378		5,856,309
				11,663,710
PERU — 0.6%
Southern Copper Corp. (b)		125,252		3,271,582
RUSSIA — 2.7%
Gazprom PAO ADR		969,362		3,579,369
Lukoil PJSC ADR		77,817		2,505,708
MMC Norilsk Nickel PJSC ADR		448,620		5,681,772
Novolipetsk Steel OJSC GDR		57,524		489,529
Rosneft OAO GDR (d)		7,117		24,739
Rosneft OAO GDR (d)		165,665		575,852
Severstal PAO GDR		120,612		1,008,919
				13,865,888
SINGAPORE — 1.0%
Golden Agri-Resources, Ltd.		5,415,300		1,297,855
Wilmar International, Ltd. (b)		1,919,100		3,977,129
				5,274,984
SOUTH AFRICA — 1.5%
Mondi PLC		282,405		5,552,599
Sasol, Ltd. ADR		81,430		2,183,952
				7,736,551
SOUTH KOREA — 2.3%
Korea Zinc Co., Ltd.		9,086		3,634,245
POSCO ADR		222,723		7,875,485
				11,509,730
SPAIN — 0.4%
Repsol SA		168,994		1,857,811
SWITZERLAND — 7.7%
Glencore PLC		8,174,889		10,901,908
Syngenta AG		71,659		28,083,742
				38,985,650
UNITED KINGDOM — 7.2%
Anglo American PLC (b)		938,274		4,141,161
BG Group PLC		546,575		7,935,130
BP PLC		2,926,209		15,267,807
Rio Tinto, Ltd.		286,411		9,316,595
				36,660,693
UNITED STATES — 32.7%
Alcoa, Inc. (b)		884,322		8,728,258
Anadarko Petroleum Corp.		41,472		2,014,710
Archer-Daniels-Midland Co.		249,124		9,137,868

106

SPDR S&P Global Natural Resources ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bunge, Ltd.		58,834	$	4,017,186
CF Industries Holdings, Inc.		95,329		3,890,376
Chevron Corp.		151,683		13,645,403
ConocoPhillips		99,384		4,640,239
Devon Energy Corp.		31,567		1,010,144
EOG Resources, Inc.		44,230		3,131,042
Exxon Mobil Corp.		336,106		26,199,463
Freeport-McMoRan, Inc.		767,418		5,195,420
Halliburton Co.		68,736		2,339,773
Ingredion, Inc.		29,163		2,794,982
International Paper Co.		170,921		6,443,722
Monsanto Co.		179,996		17,733,206
Mosaic Co.		137,854		3,803,392
Newmont Mining Corp.		357,144		6,425,021
Nucor Corp.		215,786		8,696,176
Occidental Petroleum Corp.		61,527		4,159,840
Packaging Corp. of America		39,952		2,518,974
Phillips 66		38,546		3,153,063
Plum Creek Timber Co., Inc. REIT		71,406		3,407,494
Rayonier, Inc. (b)		52,355		1,162,281
Schlumberger, Ltd.		101,992		7,113,942
Sealed Air Corp.		84,122		3,751,841
WestRock Co.		107,086		4,885,263
Weyerhaeuser Co. REIT		210,375		6,307,042
				166,306,121
TOTAL COMMON STOCKS (Cost $725,746,084)				506,625,573
RIGHTS — 0.0% (e)
SPAIN — 0.0% (e)
Repsol SA (expiring 1/14/16) (a) (Cost $83,537)		165,303		82,422
SHORT-TERM INVESTMENTS — 8.2%
UNITED STATES — 8.2%
State Street Navigator Securities Lending Prime Portfolio (f) (g)		41,226,545		41,226,545
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (g) (h)		208,742		208,742
TOTAL SHORT-TERM INVESTMENTS (Cost $41,435,287)				41,435,287
TOTAL INVESTMENTS — 107.8% (Cost $767,264,908)				548,143,282
LIABILITIES IN EXCESS OF OTHER ASSETS — (7.8)%				(39,669,810	)
NET ASSETS — 100.0%			$	508,473,472

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities which represent 0.8% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(e) Amount shown represents less than 0.05% of net assets.

(f) Investment of cash collateral for securities loaned

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(h) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

REIT = Real Estate Investment Trust

107

SPDR S&P North American Natural Resources ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.0%
CANADA — 33.1%
Agnico Eagle Mines, Ltd.		706,377	$	18,494,659
Agrium, Inc.		155,933		13,882,538
ARC Resources, Ltd.		132,250		1,589,932
Barrick Gold Corp.		3,783,713		27,892,320
Cameco Corp.		153,188		1,882,456
Canadian Natural Resources, Ltd.		423,163		9,205,950
Canadian Oil Sands, Ltd.		187,352		1,115,399
Cenovus Energy, Inc.		321,789		4,053,925
Crescent Point Energy Corp.		194,515		2,257,276
Eldorado Gold Corp.		2,327,957		6,871,085
Encana Corp.		325,112		1,645,337
First Quantum Minerals, Ltd.		2,238,143		8,346,109
Franco-Nevada Corp.		509,672		23,225,281
Goldcorp, Inc.		2,697,141		31,046,926
Husky Energy, Inc.		114,065		1,175,056
Imperial Oil, Ltd.		98,076		3,182,828
Kinross Gold Corp. (a)		3,724,173		6,729,303
Lundin Mining Corp. (a)		2,033,715		5,563,399
Peyto Exploration & Development Corp.		61,177		1,095,293
Potash Corp. of Saskatchewan, Inc.		913,010		15,577,235
PrairieSky Royalty, Ltd.		60,065		947,826
Seven Generations Energy, Ltd. Class A (a)		59,512		577,512
Silver Wheaton Corp.		1,313,574		16,264,828
Suncor Energy, Inc.		558,710		14,366,943
Teck Resources, Ltd. Class B		1,510,267		5,805,792
Tourmaline Oil Corp. (a)		71,634		1,152,559
Vermilion Energy, Inc.		42,431		1,148,823
West Fraser Timber Co., Ltd.		74,391		2,813,159
Whitecap Resources, Inc.		115,167		751,972
				228,661,721
UNITED STATES — 66.9%
Alcoa, Inc.		4,255,368		42,000,482
Anadarko Petroleum Corp.		196,155		9,529,210
Antero Resources Corp. (a)		29,756		648,681
Apache Corp.		146,013		6,493,198
Archer-Daniels-Midland Co.		666,154		24,434,529
Bunge, Ltd.		157,584		10,759,835
Cabot Oil & Gas Corp.		159,802		2,826,897
CF Industries Holdings, Inc.		255,110		10,411,039
Chevron Corp.		727,317		65,429,437
Cimarex Energy Co.		36,366		3,250,393
Concho Resources, Inc. (a)		49,039		4,553,762
ConocoPhillips		476,613		22,253,061
Continental Resources, Inc. (a)		31,960		734,441
Devon Energy Corp.		149,319		4,778,208
EOG Resources, Inc.		212,134		15,016,966
EQT Corp.		58,955		3,073,324
Exxon Mobil Corp.		917,418		71,512,733
FMC Corp.		146,013		5,713,489
Freeport-McMoRan, Inc.		3,693,892		25,007,649
Hess Corp.		93,118		4,514,361
Marathon Oil Corp.		261,720		3,295,055
Monsanto Co.		481,021		47,390,189
Mosaic Co.		368,616		10,170,115
Murphy Oil Corp.		62,818		1,410,264
Newmont Mining Corp.		1,719,110		30,926,789
Noble Energy, Inc.		164,196		5,406,974
Occidental Petroleum Corp.		295,334		19,967,532
Pioneer Natural Resources Co.		57,854		7,253,734
Range Resources Corp.		65,573		1,613,752
Southwestern Energy Co. (a)		148,780		1,057,826
				461,433,925
TOTAL COMMON STOCKS (Cost $677,336,175)				690,095,646
SHORT-TERM INVESTMENT — 0.0% (b)
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d) (Cost $153,655)		153,655		153,655
TOTAL INVESTMENTS — 100.0% (Cost $677,489,830)				690,249,301
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (b)				27,729
NET ASSETS — 100.0%			$	690,277,030

(a) Non-income producing security

(b) Amount is less than 0.05% of net assets.

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

108

SPDR MSCI ACWI ex-US ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 4.9%
Alumina, Ltd. (a)		458,206	$	385,040
Amcor, Ltd.		146,723		1,434,697
AMP, Ltd.		164,049		695,833
Australia & New Zealand Banking Group, Ltd.		152,168		3,092,126
BHP Billiton PLC		100,183		1,122,214
BHP Billiton, Ltd.		164,961		2,143,510
Boral, Ltd. (a)		164,362		706,727
Brambles, Ltd.		111,846		941,492
Coca-Cola Amatil, Ltd.		92,547		626,193
Commonwealth Bank of Australia		88,727		5,521,246
CSL, Ltd.		31,484		2,412,250
Fortescue Metals Group, Ltd. (a)		126,326		171,869
Iluka Resources, Ltd.		24,735		110,315
Insurance Australia Group, Ltd.		174,880		707,421
LendLease Group		87,232		905,020
Macquarie Group, Ltd.		27,056		1,629,294
Medibank Pvt, Ltd.		113		177
National Australia Bank, Ltd.		97,283		2,137,503
Newcrest Mining, Ltd. (b)		36,499		344,416
Origin Energy, Ltd.		137,876		471,465
Qantas Airways, Ltd.		42,426		126,246
QBE Insurance Group, Ltd.		54,321		497,572
Santos, Ltd.		111,657		298,949
Scentre Group REIT		107,622		328,079
Sonic Healthcare, Ltd.		54,087		703,202
South32, Ltd. (b)		279,306		216,313
Suncorp Group, Ltd.		116,039		1,024,909
Sydney Airport		45,153		208,604
Transurban Group (b)		4,471		34,058
Transurban Group Stapled Security		85,206		649,052
Vicinity Centres REIT		286,474		583,588
Wesfarmers, Ltd.		58,207		1,762,121
Westfield Corp.		86,364		597,553
Westpac Banking Corp.		168,518		4,114,633
Woodside Petroleum, Ltd.		38,720		809,064
Woolworths, Ltd. (a)		70,446		1,255,698
				38,768,449
AUSTRIA — 0.2%
Erste Group Bank AG (b)		31,032		974,558
OMV AG		14,510		411,866
Raiffeisen Bank International AG (b)		23,850		352,482
				1,738,906
BELGIUM — 1.2%
Ageas		22,938		1,066,471
Anheuser-Busch InBev SA		39,544		4,914,241
Anheuser-Busch InBev SA (b)		8,694		—
Delhaize Group		6,564		640,245
KBC Groep NV		18,788		1,177,010
Solvay SA (a)		7,265		776,807
UCB SA		9,730		879,716
				9,454,490
BRAZIL — 1.0%
Ambev SA ADR		350,448		1,562,998
B2W Cia Digital (b)		23,513		90,516
Banco Bradesco SA ADR		169,766		816,574
Banco do Brasil SA		18,394		68,531
Banco do Estado do Rio Grande do Sul SA Class B, Preference Shares		5,454		8,078
BB Seguridade Participacoes SA		2,134		13,124
BM&FBovespa SA		70,713		194,645
Braskem SA Class A, Preference Shares		508		3,547
BRF SA		9,342		130,818
Cia Energetica de Minas Gerais ADR		178,365		267,548
Cia Siderurgica Nacional SA ADR (a)		91,651		89,442
Cielo SA		25,907		219,960
EDP — Energias do Brasil SA		73,205		222,784
Embraer SA		35,768		272,944
Estacio Participacoes SA		6,608		23,300
Fibria Celulose SA		6,822		89,477
Gerdau SA ADR (a)		136,611		163,933
Itau Unibanco Holding SA ADR		205,984		1,340,956
JBS SA		22,888		71,448
Kroton Educacional SA		67,651		162,961
Lojas Renner SA		17,328		74,896
Natura Cosmeticos SA		5,794		34,402
Odontoprev SA		43,149		103,067
Petroleo Brasileiro SA ADR (b)		167,907		570,884
Porto Seguro SA		6,710		48,829
Qualicorp SA		19,253		68,763
Raia Drogasil SA		18,526		166,143
Sul America SA		30,347		142,751
Tim Participacoes SA ADR		14,886		126,233
TOTVS SA		18,252		143,156
Vale SA ADR (a)		181,172		484,577
Via Varejo SA		80,526		66,558
				7,843,843
CANADA — 5.7%
Agnico Eagle Mines, Ltd.		8,178		214,120
Agrium, Inc. (a)		10,739		956,081
Alimentation Couche-Tard, Inc. Class B		14,636		641,767
Bank of Montreal		34,822		1,957,312
Bank of Nova Scotia		54,592		2,199,636
Barrick Gold Corp.		58,820		433,602
BlackBerry, Ltd. (a) (b)		29,952		276,858
Bombardier, Inc. Class B (a)		104,075		100,396
Brookfield Asset Management, Inc. Class A		54,335		1,707,381
CAE, Inc.		21,064		232,764
Cameco Corp.		24,246		297,948
Canadian Imperial Bank of Commerce (a)		21,558		1,415,214
Canadian National Railway Co.		40,554		2,258,190
Canadian Natural Resources, Ltd.		67,630		1,471,297
Canadian Oil Sands, Ltd.		16,043		95,512
Canadian Pacific Railway, Ltd.		11,314		1,439,438
Canadian Tire Corp., Ltd. Class A (a)		7,096		603,602
Cenovus Energy, Inc.		47,093		593,282
CGI Group, Inc. Class A (b)		4,764		189,998
Constellation Software, Inc.		892		370,439
Eldorado Gold Corp.		31,038		91,610
Enbridge, Inc.		49,436		1,637,072
Encana Corp. (a)		47,342		239,590
Fairfax Financial Holdings, Ltd.		384		181,595
First Quantum Minerals, Ltd.		37,664		140,450

109

SPDR MSCI ACWI ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Franco-Nevada Corp. (a)		5,916	$	269,587
Gildan Activewear, Inc.		45,622		1,292,038
Goldcorp, Inc.		43,393		499,499
Husky Energy, Inc.		24,911		256,629
IGM Financial, Inc. (a)		12,486		317,655
Imperial Oil, Ltd.		27,511		892,805
Kinross Gold Corp. (b)		54,527		98,526
Loblaw Cos., Ltd.		24,519		1,153,316
Magna International, Inc.		10,628		429,374
Manulife Financial Corp.		86,203		1,287,057
National Bank of Canada (a)		26,364		765,051
Onex Corp.		33,343		2,035,961
Open Text Corp.		1,823		87,062
Potash Corp. of Saskatchewan, Inc.		49,172		838,944
Restaurant Brands International, Inc. (a)		7,660		285,368
Rogers Communications, Inc. Class B		29,207		1,003,353
Royal Bank of Canada (a)		68,952		3,680,650
Shaw Communications, Inc. Class B (a)		31,284		536,001
Silver Wheaton Corp.		19,580		242,442
SNC-Lavalin Group, Inc.		16,349		483,961
Sun Life Financial, Inc.		34,800		1,081,002
Suncor Energy, Inc.		68,571		1,763,268
Teck Resources, Ltd. Class B (a)		43,701		167,996
TELUS Corp.		20,486		564,246
Toronto-Dominion Bank (a)		87,077		3,400,084
TransCanada Corp. (a)		36,797		1,197,075
Turquoise Hill Resources, Ltd. (b)		11,047		27,914
West Fraser Timber Co., Ltd.		872		32,975
Yamana Gold, Inc.		37,105		68,649
				44,503,642
CHILE — 0.3%
Embotelladora Andina SA Class B, Preference Shares		15,432		45,904
Empresa Nacional de Electricidad SA ADR		30,548		1,132,109
Enersis SA ADR		94,190		1,144,408
Sociedad Quimica y Minera de Chile SA ADR		7,167		136,245
SONDA SA		93,151		165,072
				2,623,738
CHINA — 5.3%
58.com, Inc. ADR (a) (b)		2,012		132,712
AAC Technologies Holdings, Inc.		50,500		329,384
Agricultural Bank of China, Ltd. Class H		1,428,000		584,087
Air China, Ltd. Class H		64,000		50,456
Alibaba Group Holding, Ltd. ADR (b)		18,315		1,488,460
Alibaba Health Information Technology, Ltd. (a) (b)		84,000		58,094
Anhui Conch Cement Co., Ltd. Class H		8,500		22,867
ANTA Sports Products, Ltd.		29,000		79,702
AviChina Industry & Technology Co., Ltd. Class H		390,000		306,962
Baidu, Inc. ADR (b)		5,608		1,060,136
Bank of China, Ltd. Class H		4,196,436		1,873,469
Bank of Communications Co., Ltd. Class H		788,710		555,648
Beijing Enterprises Water Group, Ltd. (a) (b)		58,000		40,637
Belle International Holdings, Ltd.		375,000		281,607
Brilliance China Automotive Holdings, Ltd. (a)		178,000		223,931
Byd Co., Ltd. Class H (a) (b)		24,500		134,826
CGN Power Co., Ltd. Class H (c)		118,400		44,304
China CITIC Bank Corp., Ltd. Class H (b)		373,000		241,603
China Coal Energy Co., Ltd. Class H (a)		40,000		15,329
China Communications Construction Co., Ltd. Class H		232,000		237,084
China Conch Venture Holdings, Ltd.		16,000		33,155
China Construction Bank Corp. Class H		3,174,720		2,175,153
China COSCO Holdings Co., Ltd. Class H (a) (b)		443,795		201,565
China Everbright Bank Co., Ltd. Class H		36,000		17,512
China Everbright International, Ltd.		26,000		33,414
China Everbright, Ltd.		44,000		101,170
China Galaxy Securities Co., Ltd. Class H (a)		127,500		116,804
China Huishan Dairy Holdings Co., Ltd. (a)		338,000		129,528
China International Marine Containers Group Co., Ltd. Class H		12,900		23,602
China Life Insurance Co., Ltd. Class H		401,000		1,296,110
China Mengniu Dairy Co., Ltd.		294,000		479,495
China Merchants Bank Co., Ltd. Class H		295,514		697,781
China Merchants Holdings International Co., Ltd.		261,051		830,295
China Minsheng Banking Corp., Ltd. Class H		207,500		205,622
China Mobile, Ltd.		321,000		3,624,123
China Oilfield Services, Ltd. Class H (a)		100,000		86,063
China Overseas Land & Investment, Ltd.		254,000		891,441
China Pacific Insurance Group Co., Ltd. Class H		127,200		523,561
China Petroleum & Chemical Corp. Class H		1,621,800		979,339
China Railway Construction Corp., Ltd. Class H (a)		89,000		110,358
China Railway Group, Ltd. Class H		180,000		136,797
China Resources Beer Holdings Co., Ltd. (a)		193,753		414,998
China Resources Land, Ltd.		52,000		151,636
China Shenhua Energy Co., Ltd. Class H		124,500		195,662
China Southern Airlines Co., Ltd. Class H		110,000		84,876
China Taiping Insurance Holdings Co., Ltd. (b)		91,000		281,801
China Telecom Corp., Ltd. Class H		1,210,000		568,299
China Unicom Hong Kong, Ltd.		500,000		609,666
CITIC Securities Co., Ltd. Class H (a)		51,500		120,408
CITIC, Ltd.		254,000		449,653

110

SPDR MSCI ACWI ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
CNOOC, Ltd.		1,140,217	$	1,187,274
COSCO Pacific, Ltd.		472,252		520,381
CRRC Corp., Ltd. Class H (a)		199,000		245,985
CSPC Pharmaceutical Group, Ltd.		292,000		298,399
Ctrip.com International, Ltd. ADR (b)		6,778		314,025
Dalian Wanda Commercial Properties Co., Ltd. Class H (c)		4,600		26,858
Datang International Power Generation Co., Ltd. Class H		52,000		15,835
ENN Energy Holdings, Ltd.		22,000		117,378
Evergrande Real Estate Group, Ltd. (a)		168,000		147,837
Fosun International, Ltd.		55,500		86,650
Geely Automobile Holdings, Ltd.		535,000		285,098
GF Securities Co., Ltd. Class H (a) (b)		4,400		11,048
GOME Electrical Appliances Holding, Ltd. (a)		1,026,000		170,776
Great Wall Motor Co., Ltd. Class H		168,000		195,743
Guangzhou Automobile Group Co., Ltd. Class H		104,000		92,726
Haitong Securities Co., Ltd. Class H (a)		98,400		173,942
Hengan International Group Co., Ltd.		63,000		595,034
Huadian Power International Corp., Ltd. Class H		72,000		46,915
Huaneng Power International, Inc. Class H		564,000		486,850
Huatai Securities Co., Ltd. Class H (b) (c)		39,600		92,381
Industrial & Commercial Bank of China, Ltd. Class H		3,428,045		2,070,057
JD.com, Inc. ADR (b)		4,973		160,454
Jiangsu Expressway Co., Ltd. Class H		14,000		18,895
Kingsoft Corp., Ltd. (a)		82,000		200,817
Lenovo Group, Ltd. (a)		302,000		306,670
NetEase, Inc. ADR		1,591		288,353
New China Life Insurance Co., Ltd. Class H		29,900		125,578
PetroChina Co., Ltd. Class H		1,174,000		769,523
PICC Property & Casualty Co., Ltd. Class H		291,610		580,199
Ping An Insurance Group Co. of China, Ltd. Class H		252,000		1,398,166
Qihoo 360 Technology Co., Ltd. ADR (a) (b)		1,591		115,841
Qunar Cayman Islands, Ltd. ADR (a) (b)		2,647		139,603
Shandong Weigao Group Medical Polymer Co., Ltd. Class H		124,000		85,278
Shanghai Electric Group Co., Ltd. Class H (a)		186,000		98,638
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B		34,400		140,042
Shanghai Pharmaceuticals Holding Co., Ltd. Class H		19,700		42,653
Sinopec Shanghai Petrochemical Co., Ltd. Class H (b)		178,000		70,969
Sinopharm Group Co., Ltd. Class H		39,600		158,908
Sinotrans, Ltd. Class H		56,000		30,131
Sunac China Holdings, Ltd.		90,300		69,908
Tencent Holdings, Ltd.		266,600		5,245,898
Tingyi Cayman Islands Holding Corp. (a)		250,000		356,767
TravelSky Technology, Ltd. Class H		56,000		92,200
Tsingtao Brewery Co., Ltd. Class H (a)		8,000		36,232
Vipshop Holdings, Ltd. ADR (b)		7,727		117,991
Want Want China Holdings, Ltd. (a)		125,000		93,063
Yanzhou Coal Mining Co., Ltd. Class H (a)		248,000		115,838
Zhuzhou CSR Times Electric Co., Ltd. Class H		48,000		279,014
Zijin Mining Group Co., Ltd. Class H		966,000		253,025
ZTE Corp. Class H		24,400		55,662
				41,958,693
COLOMBIA — 0.1%
Banco Davivienda SA Preference Shares		9,423		64,710
Bancolombia SA ADR (a)		16,137		431,665
Cementos Argos SA		14,284		43,736
Corp. Financiera Colombiana SA (b)		31		344
				540,455
DENMARK — 1.5%
AP Moeller — Maersk A/S Class B		630		823,059
Danske Bank A/S		42,424		1,143,690
DSV A/S		32,607		1,289,604
Novo Nordisk A/S Class B		118,638		6,906,072
Novozymes A/S Class B		3,865		185,998
Pandora A/S		5,122		650,148
Vestas Wind Systems A/S		8,934		629,170
				11,627,741
FINLAND — 0.9%
Elisa Oyj		20,826		787,064
Fortum Oyj		7,366		111,384
Kone Oyj Class B (a)		20,650		878,665
Metso Oyj (a)		16,484		370,666
Neste Oyj		14,851		445,745
Nokia Oyj		132,535		949,500
Sampo Oyj Class A		27,235		1,390,513
Stora Enso Oyj Class R		43,964		400,690
UPM-Kymmene Oyj		39,238		734,416
Wartsila Oyj Abp		15,001		686,859
				6,755,502
FRANCE — 6.9%
Accor SA		15,263		663,291
Air Liquide SA		18,703		2,105,864
Airbus Group SE		29,874		2,012,032
Alcatel-Lucent (b)		126,868		503,031
Alstom SA (a) (b)		13,356		408,635
AXA SA		84,844		2,325,349
BNP Paribas SA		53,821		3,053,666
Bouygues SA		15,125		600,445
Cap Gemini SA		9,828		913,879
Carrefour SA		39,868		1,154,174
Cie de Saint-Gobain		10,588		458,345
Cie Generale des Etablissements Michelin		1,594		152,204
Credit Agricole SA		50,331		594,859
Danone SA		33,768		2,284,566
Engie SA		58,727		1,041,456
Essilor International SA		20,291		2,535,945
Hermes International		644		218,093
Kering		6,368		1,092,628

111

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SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
L’Oreal SA		16,394	$	2,765,707
Lagardere SCA		11,344		339,005
Legrand SA		12,566		712,553
LVMH Moet Hennessy Louis Vuitton SE		13,351		2,101,513
Numericable-SFR SAS		2,170		78,969
Orange SA		111,912		1,882,512
Pernod Ricard SA		11,626		1,328,605
Peugeot SA (b)		2,045		35,999
Publicis Groupe SA		15,402		1,026,961
Renault SA		14,415		1,450,495
Safran SA		5,919		407,457
Sanofi		58,729		5,014,469
Schneider Electric SE		30,492		1,740,969
Societe Generale SA		36,194		1,673,748
Sodexo SA		8,844		865,996
Technip SA		9,577		475,804
TOTAL SA		100,250		4,493,824
Unibail-Rodamco SE		4,422		1,125,968
Valeo SA		763		118,152
Veolia Environnement SA		26,870		638,215
Vinci SA		31,892		2,048,863
Vivendi SA		77,599		1,674,115
Zodiac Aerospace		2,836		67,699
				54,186,060
GERMANY — 6.5%
adidas AG		19,046		1,860,208
Allianz SE		25,428		4,517,650
BASF SE		49,489		3,801,900
Bayer AG		41,573		5,229,615
Bayerische Motoren Werke AG		16,477		1,747,476
Commerzbank AG (b)		37,435		389,252
Continental AG		987		240,758
Daimler AG		53,316		4,493,214
Deutsche Bank AG		57,735		1,412,712
Deutsche Boerse AG		16,134		1,426,471
Deutsche Lufthansa AG (b)		23,324		369,031
Deutsche Post AG		62,250		1,755,134
Deutsche Telekom AG		169,247		3,068,507
E.ON SE		108,137		1,049,118
Fresenius Medical Care AG & Co. KGaA		17,528		1,480,031
Henkel AG & Co. KGaA Preference Shares		1,482		166,141
KS AG		3,700		94,936
Linde AG		7,971		1,159,426
MAN SE		9,092		915,565
Merck KGaA		12,870		1,252,250
METRO AG		11,470		368,313
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		12,820		2,570,111
OSRAM Licht AG		4,696		197,878
RWE AG		27,886		354,726
SAP SE		53,575		4,270,608
Siemens AG		48,497		4,735,084
ThyssenKrupp AG		22,840		455,035
TUI AG		5,167		92,225
Volkswagen AG		3,576		552,780
Volkswagen AG Preference Shares		6,727		977,384
Vonovia SE		4,936		153,084
				51,156,623
GREECE — 0.1%
Alpha Bank AE (b)		2,912		7,877
Eurobank Ergasias SA (b)		3,227		3,646
Hellenic Telecommunications Organization SA		2,585		25,947
JUMBO SA (b)		18,174		191,501
National Bank of Greece SA (b)		6,262		2,333
OPAP SA		26,142		230,024
Piraeus Bank SA (b)		1,013		306
				461,634
HONG KONG — 2.5%
AIA Group, Ltd.		606,200		3,644,951
Alibaba Pictures Group, Ltd. (a) (b)		510,000		126,346
Bank of East Asia, Ltd. (a)		267,611		996,184
BOC Hong Kong Holdings, Ltd.		99,500		304,272
Cheung Kong Property Holdings, Ltd.		155,032		1,008,189
CK Hutchison Holdings, Ltd.		168,532		2,274,594
Galaxy Entertainment Group, Ltd.		106,000		334,406
Goldin Properties Holdings, Ltd. (a) (b)		76,000		87,668
Hanergy Thin Film Power Group, Ltd. (a) (b)		448,000		—
Hang Lung Properties, Ltd.		254,000		578,126
Hang Seng Bank, Ltd.		600		11,419
Henderson Land Development Co., Ltd.		115,813		709,808
Hong Kong & China Gas Co., Ltd.		741,135		1,453,553
Hong Kong Exchanges and Clearing, Ltd.		66,476		1,702,610
Imperial Pacific International Holdings, Ltd. (a) (b)		3,277,800		71,476
Li & Fung, Ltd. (a)		508,000		345,433
Link REIT		208,286		1,247,004
New World Development Co., Ltd. (a)		541,989		535,685
Noble Group, Ltd. (a)		159,800		45,057
Sands China, Ltd.		152,000		520,713
Shangri-La Asia, Ltd.		252,333		246,468
Sino Biopharmaceutical, Ltd.		472,000		429,968
SJM Holdings, Ltd. (a)		38,000		27,114
Sun Art Retail Group, Ltd. (a)		154,000		116,243
Sun Hung Kai Properties, Ltd.		114,185		1,379,033
Swire Pacific, Ltd. Class A		74,006		832,671
Techtronic Industries Co., Ltd.		68,000		277,259
WH Group, Ltd. (b) (c)		147,601		82,465
				19,388,715
HUNGARY — 0.1%
MOL Hungarian Oil & Gas PLC		7,838		384,086
OTP Bank PLC		2,850		58,783
				442,869
INDIA — 1.7%
ACC, Ltd.		2,224		45,741
Aditya Birla Nuvo, Ltd.		2,921		95,686
Ambuja Cements, Ltd.		21,425		65,759
Apollo Hospitals Enterprise, Ltd.		5,260		116,596
Aurobindo Pharma, Ltd.		5,884		77,908
Bajaj Auto, Ltd.		34		1,301
Bharat Forge, Ltd.		3,386		45,654
Bharat Heavy Electricals, Ltd.		2,684		6,863
Bharti Airtel, Ltd.		19,085		98,200
Bharti Infratel, Ltd.		22,005		142,395
Bosch, Ltd.		81		22,832

112

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SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Dabur India, Ltd.		38,277	$	160,239
Dr Reddy’s Laboratories, Ltd. ADR		16,682		772,210
Eicher Motors, Ltd.		513		130,704
GlaxoSmithKline Consumer Healthcare, Ltd.		525		50,838
Glenmark Pharmaceuticals, Ltd.		1,327		18,492
Godrej Consumer Products, Ltd.		8,247		164,476
HCL Technologies, Ltd.		26,131		337,755
Hindustan Unilever, Ltd.		29,061		378,987
Housing Development Finance Corp., Ltd.		60,484		1,155,396
ICICI Bank, Ltd. ADR		126,692		991,998
Idea Cellular, Ltd.		19,150		41,582
Indiabulls Housing Finance, Ltd.		15,281		170,166
Infosys, Ltd. ADR (a)		130,051		2,178,354
ITC, Ltd.		62,815		311,244
LIC Housing Finance, Ltd.		21,356		164,650
Lupin, Ltd.		6,897		191,539
Mahindra & Mahindra Financial Services, Ltd.		34,076		124,728
Mahindra & Mahindra, Ltd. GDR		22,062		423,590
Marico, Ltd. (b)		29,669		101,421
Marico, Ltd.		30,623		104,682
Motherson Sumi Systems, Ltd.		8,847		39,203
Nestle India, Ltd.		755		66,511
Reliance Industries, Ltd. GDR (c)		58,041		1,776,055
Shree Cement, Ltd.		540		93,862
Shriram Transport Finance Co., Ltd.		7,673		99,595
Siemens, Ltd.		6,895		125,135
State Bank of India		7,299		24,764
Sun Pharmaceutical Industries, Ltd.		33,095		410,284
Tata Consultancy Services, Ltd.		8,186		301,529
Tata Motors, Ltd. ADR (a) (b)		36,989		1,090,066
Tech Mahindra, Ltd.		5,934		46,790
United Breweries, Ltd.		6,417		91,910
United Spirits, Ltd. (b)		1,760		79,584
UPL, Ltd.		13,556		89,771
Zee Entertainment Enterprises, Ltd.		23,508		155,373
				13,182,418
INDONESIA — 0.6%
Astra Agro Lestari Tbk PT		178,300		205,009
Astra International Tbk PT		2,041,200		888,444
Bank Central Asia Tbk PT		443,500		427,896
Bank Danamon Indonesia Tbk PT		10,100		2,345
Bank Mandiri Persero Tbk PT		513,400		344,501
Bank Rakyat Indonesia Persero Tbk PT		1,497,300		1,240,961
Bumi Serpong Damai Tbk PT		128,500		16,779
Charoen Pokphand Indonesia Tbk PT		1,302,500		245,666
Gudang Garam Tbk PT		61,500		245,375
Matahari Department Store Tbk PT		34,800		44,431
Summarecon Agung Tbk PT		361,400		43,258
Surya Citra Media Tbk PT		21,700		4,880
Telekomunikasi Indonesia Persero Tbk PT		3,489,100		785,902
				4,495,447
IRELAND — 0.7%
Bank of Ireland (b)		1,425,597		523,436
CRH PLC		33,689		977,123
Experian PLC		48,380		856,400
James Hardie Industries PLC		87,577		1,113,130
Kerry Group PLC Class A		5,642		467,697
Shire PLC		27,872		1,929,964
				5,867,750
ISRAEL — 0.6%
Bank Hapoalim BM		146,676		757,685
Bank Leumi Le-Israel BM (b)		142,835		495,566
NICE-Systems, Ltd.		6,698		386,451
Teva Pharmaceutical Industries, Ltd. ADR (a)		47,628		3,126,302
				4,766,004
ITALY — 1.5%
Assicurazioni Generali SpA		59,072		1,085,755
Atlantia SpA		44,591		1,186,761
Banca Monte dei Paschi di Siena SpA (b)		109,039		145,929
Banco Popolare SC (b)		14,330		199,409
Enel SpA		337,207		1,425,671
Eni SpA		116,220		1,742,247
Finmeccanica SpA (b)		59,598		835,163
Intesa Sanpaolo SpA		608,326		2,040,626
Mediobanca SpA		40,395		389,883
Saipem SpA (a) (b)		24,922		202,775
Telecom Italia SpA (a) (b)		832,043		1,062,022
UniCredit SpA		127,804		712,910
Unione di Banche Italiane SpA		59,456		400,440
				11,429,591
JAPAN — 17.3%
Acom Co., Ltd. (a) (b)		1,800		8,589
Aeon Co., Ltd.		37,600		583,871
Aisin Seiki Co., Ltd.		25,100		1,093,346
Ajinomoto Co., Inc.		1,000		23,937
Alps Electric Co., Ltd.		600		16,534
Asahi Glass Co., Ltd. (a)		125,000		723,222
Asahi Group Holdings, Ltd.		38,000		1,200,067
Asahi Kasei Corp.		127,000		868,767
Astellas Pharma, Inc.		163,800		2,357,702
Bank of Yokohama, Ltd.		127,000		787,686
Bridgestone Corp.		38,000		1,318,525
Canon, Inc. (a)		50,400		1,539,715
Central Japan Railway Co.		9,600		1,723,762
Chiba Bank, Ltd.		127,000		912,158
Chubu Electric Power Co., Inc.		50,600		699,302
Credit Saison Co., Ltd.		37,500		748,473
Dai-ichi Life Insurance Co., Ltd.		28,700		485,511
Daiichi Sankyo Co., Ltd. (a)		50,700		1,058,085
Daikin Industries, Ltd.		24,200		1,790,633
Daiwa Securities Group, Inc.		125,000		773,931
Denso Corp.		25,400		1,228,457
Dentsu, Inc. (a)		2,200		122,166
East Japan Railway Co.		21,200		2,017,873
Eisai Co., Ltd.		12,700		851,242
Electric Power Development Co., Ltd.		12,700		456,607
FANUC Corp.		11,500		2,015,213
Fast Retailing Co., Ltd.		1,400		496,247
Fuji Heavy Industries, Ltd.		5,400		225,660
FUJIFILM Holdings Corp.		37,700		1,592,053
Fujitsu, Ltd.		127,000		640,727
Hitachi, Ltd.		253,000		1,454,337

113

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SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Honda Motor Co., Ltd.		88,700	$	2,883,054
Hoya Corp.		25,400		1,051,726
Inpex Corp.		50,000		492,747
ITOCHU Corp.		126,700		1,518,778
Japan Real Estate Investment Corp.		254		1,239,436
Japan Retail Fund Investment Corp.		508		980,569
Japan Tobacco, Inc. (a)		50,700		1,884,365
JFE Holdings, Inc. (a)		37,700		601,721
Joyo Bank, Ltd. (a)		127,000		607,049
JSR Corp. (a)		25,400		400,969
JX Holdings, Inc.		206,508		872,760
Kajima Corp.		127,000		764,354
Kamigumi Co., Ltd.		126,000		1,097,702
Kansai Electric Power Co., Inc. (b)		62,900		763,145
KDDI Corp.		76,200		1,997,879
Keikyu Corp.		126,423		1,054,094
Keyence Corp.		300		167,289
Kintetsu Group Holdings Co., Ltd.		253,000		1,036,859
Kobe Steel, Ltd.		254,000		280,826
Komatsu, Ltd.		63,300		1,048,203
Konica Minolta, Inc.		63,500		645,056
Kose Corp.		200		18,737
Kubota Corp.		106,000		1,663,644
Kyocera Corp.		25,200		1,184,428
LIXIL Group Corp. (a)		25,100		563,365
Makita Corp. (a)		12,500		730,496
Marubeni Corp.		126,000		654,745
Marui Group Co., Ltd. (a)		58,500		961,910
MEIJI Holdings Co., Ltd.		3,200		267,343
Mitsubishi Chemical Holdings Corp.		127,000		817,458
Mitsubishi Corp.		88,700		1,495,354
Mitsubishi Electric Corp.		126,000		1,343,323
Mitsubishi Estate Co., Ltd.		109,618		2,299,522
Mitsubishi Heavy Industries, Ltd.		253,000		1,121,617
Mitsubishi UFJ Financial Group, Inc.		525,400		3,306,707
Mitsui & Co., Ltd.		126,700		1,522,464
Mitsui Chemicals, Inc.		127,000		572,210
Mitsui Fudosan Co., Ltd.		21,000		533,489
Mizuho Financial Group, Inc.		728,800		1,475,230
MS&AD Insurance Group Holdings, Inc.		38,000		1,127,728
Murata Manufacturing Co., Ltd.		12,700		1,854,932
NEC Corp.		131,000		419,261
Nidec Corp.		17,600		1,292,915
Nintendo Co., Ltd.		4,000		557,130
Nippon Steel & Sumitomo Metal Corp.		50,700		1,018,257
Nippon Telegraph & Telephone Corp.		50,600		2,034,179
Nippon Yusen KK		127,000		311,443
Nissan Motor Co., Ltd. (a)		126,700		1,347,626
Nitori Holdings Co., Ltd.		100		8,504
Nitto Denko Corp.		12,600		933,465
Nomura Holdings, Inc.		140,000		790,340
NTT Data Corp.		12,700		620,774
NTT DOCOMO, Inc.		96,100		1,984,392
Obayashi Corp.		113,000		1,051,141
Ono Pharmaceutical Co., Ltd.		600		108,184
Oriental Land Co., Ltd. (a)		2,900		176,876
ORIX Corp.		113,100		1,612,894
Osaka Gas Co., Ltd.		253,000		922,027
Panasonic Corp.		128,200		1,322,018
Rakuten, Inc. (b)		17,600		205,269
Resona Holdings, Inc.		38,000		186,754
Rohm Co., Ltd.		12,500		642,171
Ryohin Keikaku Co., Ltd.		400		81,932
Secom Co., Ltd.		12,700		869,928
Seven & i Holdings Co., Ltd.		50,700		2,339,125
Shin-Etsu Chemical Co., Ltd.		25,300		1,391,663
Shionogi & Co., Ltd.		5,000		228,729
Shiseido Co., Ltd. (a)		6,900		145,061
Shizuoka Bank, Ltd. (a)		126,000		1,238,056
SoftBank Group Corp.		50,700		2,587,367
Sompo Japan Nipponkoa Holdings, Inc.		37,900		1,263,701
Sony Corp.		63,100		1,574,681
Sumitomo Chemical Co., Ltd.		127,000		740,072
Sumitomo Corp.		63,400		653,790
Sumitomo Electric Industries, Ltd.		50,700		726,604
Sumitomo Mitsui Financial Group, Inc.		38,000		1,454,990
Sumitomo Mitsui Trust Holdings, Inc.		126,000		482,863
T&D Holdings, Inc.		25,100		335,724
Takeda Pharmaceutical Co., Ltd.		50,700		2,556,179
TDK Corp.		12,700		825,587
Teijin, Ltd.		236,000		814,165
Terumo Corp.		35,400		1,112,365
Tohoku Electric Power Co., Inc.		25,500		322,208
Tokio Marine Holdings, Inc.		38,000		1,488,474
Tokyo Electric Power Co., Inc. (b)		88,600		514,829
Tokyo Electron, Ltd.		12,700		773,011
Tokyo Gas Co., Ltd.		253,000		1,200,485
Tokyu Corp.		127,000		1,013,508
Toppan Printing Co., Ltd.		127,000		1,181,371
Toray Industries, Inc. (a)		127,000		1,192,984
Toshiba Corp. (a) (b)		127,000		263,829
Toyota Motor Corp.		133,800		8,328,645
Toyota Tsusho Corp.		38,000		899,971
West Japan Railway Co.		18,800		1,311,835
Yahoo Japan Corp. (a)		164,800		676,763
Yakult Honsha Co., Ltd. (a)		900		44,590
Yamada Denki Co., Ltd. (a)		76,500		332,595
Yamaha Corp.		49,800		1,220,834
Yamaha Motor Co., Ltd.		50,700		1,156,497
				135,608,312
LUXEMBOURG — 0.0% (d)
ArcelorMittal (a)		41,667		176,389
MACAU — 0.0% (d)
MGM China Holdings, Ltd.		32,800		41,052
Wynn Macau, Ltd. (a)		35,600		41,617
				82,669
MALAYSIA — 0.5%
AirAsia Bhd		347,900		104,528
Alliance Financial Group Bhd		427,200		354,217
AMMB Holdings Bhd		135,200		142,647
Astro Malaysia Holdings Bhd		69,300		44,548
Berjaya Sports Toto Bhd		643,740		457,298
British American Tobacco Malaysia Bhd		24,500		320,009
Bumi Armada Bhd (b)		168,500		40,030
CIMB Group Holdings Bhd		244,900		258,960
Dialog Group Bhd		111,400		41,514
Felda Global Ventures Holdings Bhd		432,300		172,175

114

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SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Gamuda Bhd		31,900	$	34,623
Genting Bhd		119,900		204,976
Genting Malaysia Bhd		303,700		309,819
Genting Plantations Bhd		133,100		328,604
Hong Leong Financial Group Bhd		20,439		66,456
IOI Properties Group Bhd		93,400		48,946
Lafarge Malaysia Bhd		122,700		253,774
Malaysia Airports Holdings Bhd		21,600		28,223
Petronas Chemicals Group Bhd		16,400		27,770
PPB Group Bhd		70,700		261,821
RHB Capital Bhd		54,100		71,445
SapuraKencana Petroleum Bhd		104,600		49,212
Tenaga Nasional Bhd		53,800		166,907
UMW Holdings Bhd		28,600		52,424
Westports Holdings Bhd		97,300		93,368
				3,934,294
MEXICO — 1.0%
America Movil SAB de CV Series L		2,364,401		1,659,214
Cemex SAB de CV (a) (b)		994,183		542,821
Controladora Comercial Mexicana SAB de CV (a)		66,810		183,009
Fomento Economico Mexicano SAB de CV		171,248		1,602,604
Fresnillo PLC		13,867		144,705
Gentera SAB de CV (a)		91,497		176,678
Grupo Financiero Banorte SAB de CV Series O		264,706		1,455,863
Grupo Mexico SAB de CV Series B		148,592		316,522
Grupo Televisa SAB Series CPO (a)		232,151		1,268,076
Industrias Penoles SAB de CV		10,695		109,742
Kimberly-Clark de Mexico SAB de CV Class A		86,862		203,033
Telesites SAB de CV (a) (b)		116,348		75,517
Wal-Mart de Mexico SAB de CV (a)		102,287		257,566
				7,995,350
NETHERLANDS — 2.4%
Akzo Nobel NV		16,821		1,127,057
Altice NV Class B (b)		2,874		41,835
Altice NV Class A (b)		16,048		230,987
ASML Holding NV		19,865		1,781,375
Heineken NV		16,133		1,380,466
ING Groep NV		156,014		2,110,001
Koninklijke Ahold NV		59,387		1,256,373
Koninklijke DSM NV		13,753		691,418
Koninklijke KPN NV		336,598		1,276,837
Koninklijke Philips NV		60,708		1,553,714
Royal Dutch Shell PLC Class A		183,840		4,134,877
Royal Dutch Shell PLC Class B		98,475		2,239,546
TNT Express NV		33,949		287,286
Wolters Kluwer NV		23,397		787,012
				18,898,784
NEW ZEALAND — 0.0% (d)
Meridian Energy, Ltd.		61,345		100,372
Mighty River Power, Ltd.		7,967		15,163
Spark New Zealand, Ltd.		3,368		7,609
				123,144
NORWAY — 0.5%
DNB ASA		93,837		1,164,037
Norsk Hydro ASA		154,306		577,557
Statoil ASA		54,393		760,157
Telenor ASA		49,256		825,260
Yara International ASA		12,615		545,712
				3,872,723
PERU — 0.1%
Cia de Minas Buenaventura SAA ADR		13,225		56,603
Credicorp, Ltd.		3,675		357,651
				414,254
PHILIPPINES — 0.3%
Alliance Global Group, Inc.		392,800		134,398
Ayala Land, Inc.		79,500		58,204
BDO Unibank, Inc.		21,890		48,846
DMCI Holdings, Inc.		450,550		132,134
Energy Development Corp.		234,300		30,872
Globe Telecom, Inc.		1,810		71,238
GT Capital Holdings, Inc.		5,300		148,677
JG Summit Holdings, Inc.		65,420		101,908
Jollibee Foods Corp.		70,130		326,394
Megaworld Corp.		1,113,000		100,526
Metro Pacific Investments Corp.		1,375,100		151,961
Philippine Long Distance Telephone Co. ADR		15,839		677,117
SM Prime Holdings, Inc.		48,900		22,551
Universal Robina Corp.		41,390		163,607
				2,168,433
POLAND — 0.2%
Alior Bank SA (b)		20,796		350,203
Bank Millennium SA (b)		84,130		118,453
Bank Zachodni WBK SA (b)		728		52,356
CCC SA		5,014		175,918
Enea SA		37,398		107,015
Energa SA		23,302		74,586
Eurocash SA		15,890		195,157
Grupa Azoty SA (b)		2,418		60,925
LPP SA		48		67,522
Orange Polska SA		60,814		101,024
Polski Koncern Naftowy Orlen SA		11,732		201,577
Powszechna Kasa Oszczednosci Bank Polski SA (b)		7,311		50,598
				1,555,334
PORTUGAL — 0.0%(d)
Banco Comercial Portugues SA (a) (b)		2,164,281		114,967
Jeronimo Martins SGPS SA		13,596		177,158
				292,125
RUSSIA — 0.7%
Gazprom PAO ADR		297,314		1,097,832
Lukoil PJSC ADR		36,121		1,173,391
MMC Norilsk Nickel PJSC ADR		24,715		313,757
Mobile TeleSystems PJSC ADR		59,365		366,876
RusHydro PJSC ADR		88,286		83,348
Sberbank of Russia PJSC ADR		82,740		486,511
Surgutneftegas OAO ADR		83,460		496,587
Tatneft PAO ADR		41,656		1,097,635
Uralkali PJSC GDR (b)		13,453		163,016
				5,278,953
SINGAPORE — 1.1%
CapitaLand, Ltd. (a)		253,000		597,434

115

SPDR MSCI ACWI ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
DBS Group Holdings, Ltd.		131,136	$	1,542,776
Singapore Exchange, Ltd. (a)		253,000		1,373,207
Singapore Press Holdings, Ltd. (a)		380,000		1,055,370
Singapore Telecommunications, Ltd.		847,200		2,191,678
United Overseas Bank, Ltd.		127,959		1,768,777
				8,529,242
SOUTH AFRICA — 1.2%
Anglo American Platinum, Ltd. (a) (b)		9,987		119,453
AngloGold Ashanti, Ltd. (b)		26,442		181,325
Brait SE (a) (b)		20,652		222,493
Capitec Bank Holdings, Ltd.		3,267		113,547
Coronation Fund Managers, Ltd. (a)		1,922		6,561
Discovery, Ltd.		64,363		552,229
FirstRand, Ltd.		248,484		679,440
Foschini Group, Ltd.		4,925		38,706
Gold Fields, Ltd.		60,205		163,961
Impala Platinum Holdings, Ltd. (a) (b)		38,116		61,594
Imperial Holdings, Ltd.		107		824
Massmart Holdings, Ltd. (a)		1,234		7,964
Mr Price Group, Ltd.		7,561		97,590
MTN Group, Ltd.		93,455		801,474
Naspers, Ltd. Class N		21,673		2,965,168
Pioneer Foods Group, Ltd.		4,838		49,643
PSG Group, Ltd.		10,329		148,981
Rand Merchant Insurance Holdings, Ltd.		22,201		55,461
Remgro, Ltd.		22,747		359,962
Resilient REIT, Ltd.		1,584		11,807
Sanlam, Ltd.		244,373		954,751
Sasol, Ltd.		32,280		873,688
Standard Bank Group, Ltd.		83,075		608,500
Truworths International, Ltd. (a)		15,005		88,265
Woolworths Holdings, Ltd.		5,903		38,152
				9,201,539
SOUTH KOREA — 3.3%
Amorepacific Corp.		259		91,557
Amorepacific Corp. Preference Shares		1,346		264,023
Amorepacific Group		346		43,672
BGF retail Co., Ltd.		728		106,479
Celltrion, Inc. (a) (b)		5,340		384,828
CJ CheilJedang Corp.		1,542		496,444
CJ Corp.		482		103,179
Coway Co., Ltd.		50		3,586
E-MART, Inc.		1,788		288,203
Hana Financial Group, Inc.		30,043		604,678
Hanmi Pharm Co., Ltd. (b)		205		127,278
Hanmi Science Co., Ltd. (b)		467		51,378
Hanssem Co., Ltd.		728		143,731
Hotel Shilla Co., Ltd.		660		43,510
Hyundai Department Store Co., Ltd.		2,989		322,467
Hyundai Development Co-Engineering & Construction		7,515		248,673
Hyundai Heavy Industries Co., Ltd. (a) (b)		3,470		259,832
Hyundai Mobis Co., Ltd.		4,180		878,743
Hyundai Motor Co.		9,214		1,170,855
Hyundai Steel Co.		4,241		180,664
KB Financial Group, Inc.		30,312		856,972
Kia Motors Corp.		18,306		821,198
Korea Aerospace Industries, Ltd.		2,914		194,093
Korea Electric Power Corp. ADR (b)		35,833		758,585
Korea Zinc Co., Ltd.		1,810		723,969
KT Corp. ADR (b)		24,969		297,381
KT&G Corp.		8,854		789,086
LG Chem, Ltd. Preference Shares		4,278		901,169
LG Electronics, Inc.		9,920		455,158
LG Household & Health Care, Ltd.		862		771,907
Lotte Chemical Corp.		1,752		363,833
NAVER Corp.		1,823		1,023,013
NCSoft Corp.		1,543		280,294
POSCO ADR		18,254		645,461
Samsung C&T Corp. (b)		2,900		346,254
Samsung Electronics Co., Ltd. GDR		12,049		6,404,043
Samsung Fire & Marine Insurance Co., Ltd.		3,082		808,251
Samsung Heavy Industries Co., Ltd.		8,790		81,337
Samsung SDS Co., Ltd.		892		193,227
Samsung Securities Co., Ltd.		15,339		546,163
Shinhan Financial Group Co., Ltd.		26,906		907,537
SK Holdings Co., Ltd.		2,815		577,381
SK Hynix, Inc.		22,537		591,030
SK Innovation Co., Ltd. (b)		4,921		545,589
SK Telecom Co., Ltd. ADR		12,400		249,860
				25,946,571
SPAIN — 2.3%
Abertis Infraestructuras SA		55,980		876,288
ACS Actividades de Construccion y Servicios SA		26,441		775,948
Aena SA (b) (c)		636		72,819
Amadeus IT Holding SA Class A		15,516		685,747
Banco Bilbao Vizcaya Argentaria SA		276,683		2,025,479
Banco de Sabadell SA (a)		71,728		127,396
Banco Popular Espanol SA (a)		91,759		303,319
Banco Santander SA		645,462		3,195,912
Distribuidora Internacional de Alimentacion SA (a) (b)		50,439		298,287
Ferrovial SA		72,802		1,649,314
Gas Natural SDG SA		21,195		433,199
Iberdrola SA		291,220		2,072,107
Industria de Diseno Textil SA		60,483		2,082,118
Mapfre SA		144,916		363,960
Repsol SA		69,279		761,609
Telefonica SA		218,241		2,426,465
				18,149,967
SWEDEN — 2.1%
Assa Abloy AB Class B		92,651		1,956,193
Atlas Copco AB Class B		54,987		1,273,807
Hennes & Mauritz AB Class B		54,311		1,946,167
Husqvarna AB Class B		126,845		842,564
Nordea Bank AB		167,852		1,857,589
Sandvik AB (a)		68,458		601,299
Securitas AB Class B		41,280		636,538
Skandinaviska Enskilda Banken AB Class A		73,874		783,377
Skanska AB Class B		41,163		804,648
SKF AB Class B		33,698		548,403
Svenska Handelsbanken AB Class A		90,731		1,215,041
Swedbank AB Class A		45,008		998,861
Tele2 AB Class B		51,279		515,491
Telefonaktiebolaget LM Ericsson Class B		173,121		1,690,017

116

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SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
TeliaSonera AB		99,864	$	499,758
Volvo AB Class B		71,055		666,673
				16,836,426
SWITZERLAND — 7.1%
ABB, Ltd. (b)		120,630		2,164,350
Actelion, Ltd. (b)		216		30,123
Adecco SA (b)		10,237		704,625
Aryzta AG (b)		881		44,886
Cie Financiere Richemont SA		25,869		1,863,292
Coca-Cola HBC AG (b)		8,163		174,215
Credit Suisse Group AG (b)		79,132		1,714,658
Geberit AG		2,789		947,870
Givaudan SA (b)		728		1,325,818
Glencore PLC		526,001		701,467
Julius Baer Group, Ltd. (b)		7,903		384,176
Kuehne + Nagel International AG		5,936		817,164
LafargeHolcim, Ltd. (b)		16,819		845,151
Lonza Group AG (b)		1,390		226,483
Nestle SA		158,686		11,818,223
Novartis AG		114,305		9,911,762
Roche Holding AG		36,737		10,143,963
SGS SA		507		967,909
Sika AG		80		289,311
Sonova Holding AG		1,495		190,123
Swatch Group AG (a)		2,893		1,012,116
Swiss Re AG		17,274		1,693,749
Syngenta AG		5,244		2,055,166
UBS Group AG		170,494		3,324,718
Wolseley PLC		12,629		687,039
Zurich Insurance Group AG (b)		8,048		2,077,526
				56,115,883
TAIWAN — 2.4%
Advanced Semiconductor Engineering, Inc. ADR		140,229		795,098
Advantech Co., Ltd.		14,000		90,145
Asia Pacific Telecom Co., Ltd. (b)		48,000		17,024
Asustek Computer, Inc.		11,000		91,089
AU Optronics Corp. ADR		168,890		491,470
Catcher Technology Co., Ltd.		20,000		168,052
Cathay Financial Holding Co., Ltd.		157,000		221,302
Chicony Electronics Co., Ltd.		89,425		196,562
China Airlines, Ltd. (b)		498,000		181,934
China Development Financial Holding Corp.		294,000		73,663
China Life Insurance Co., Ltd.		170,400		130,989
Chunghwa Telecom Co., Ltd. ADR		60,557		1,818,527
Compal Electronics, Inc.		160,000		90,115
CTBC Financial Holding Co., Ltd.		330,184		169,882
Delta Electronics, Inc.		35,785		169,409
E.Sun Financial Holding Co., Ltd.		182,520		106,410
Eclat Textile Co., Ltd.		15,000		207,097
Eva Airways Corp. (b)		303,000		171,577
Feng TAY Enterprise Co., Ltd.		30,390		155,433
Foxconn Technology Co., Ltd.		24,000		50,854
Fubon Financial Holding Co., Ltd.		216,000		295,917
Giant Manufacturing Co., Ltd.		17,000		113,344
Hermes Microvision, Inc.		2,000		72,762
Highwealth Construction Corp.		36,400		42,000
Hiwin Technologies Corp.		6,180		24,365
Hon Hai Precision Industry Co., Ltd. GDR		566,362		2,894,110
Hotai Motor Co., Ltd.		7,000		80,982
HTC Corp.		13,000		30,870
Innolux Corp.		168,000		50,839
Inotera Memories, Inc. (b)		1,000		851
Largan Precision Co., Ltd.		5,000		345,541
MediaTek, Inc.		43,000		327,275
Mega Financial Holding Co., Ltd.		25,948		16,787
Merida Industry Co., Ltd.		28,000		150,881
Pegatron Corp.		48,000		105,215
Phison Electronics Corp.		3,000		21,235
Pou Chen Corp.		73,000		95,787
Powertech Technology, Inc.		2,000		3,970
President Chain Store Corp.		15,000		93,844
Radiant Opto-Electronics Corp.		13,000		29,841
Ruentex Development Co., Ltd.		35,158		45,865
Siliconware Precision Industries Co., Ltd. ADR (a)		69,389		537,765
Standard Foods Corp.		147,000		367,422
Taishin Financial Holding Co., Ltd.		117,000		40,606
Taiwan Business Bank (b)		640,048		159,393
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		246,886		5,616,657
Teco Electric and Machinery Co., Ltd.		53,000		42,436
Transcend Information, Inc.		7,000		18,263
Uni-President Enterprises Corp.		38,000		63,513
United Microelectronics Corp. ADR (a)		891,686		1,676,370
Zhen Ding Technology Holding, Ltd.		21,000		48,461
				18,809,799
THAILAND — 0.4%
Bangkok Bank PCL (a)		339,976		1,459,672
BEC World PCL		52,700		44,667
Bumrungrad Hospital PCL		20,300		119,030
Central Pattana PCL		52,500		68,570
Delta Electronics Thailand PCL		45,800		97,366
Indorama Ventures PCL		28,800		17,047
IRPC PCL		3,216,500		384,353
Kasikornbank PCL		41,100		170,750
Minor International PCL		61,600		62,054
PTT PCL		102,177		692,822
Thai Union Group PCL		152,200		72,748
TMB Bank PCL		771,300		51,870
				3,240,949
TURKEY — 0.3%
Akbank TAS		317,915		729,750
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		580,153		516,778
Turkiye Garanti Bankasi A/S		243,624		594,276
Turkiye Is Bankasi		503,168		792,974
				2,633,778
UNITED KINGDOM — 13.7%
3i Group PLC		149,334		1,060,018
Anglo American PLC (a)		80,553		355,528
ARM Holdings PLC		12,087		185,098
AstraZeneca PLC		56,610		3,851,892
BAE Systems PLC		157,932		1,162,949
Barclays PLC		753,256		2,430,281
BG Group PLC		168,547		2,446,951
BP PLC		871,878		4,549,116
British American Tobacco PLC		84,718		4,708,692

117

SPDR MSCI ACWI ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
British Land Co. PLC		142,505	$	1,650,900
BT Group PLC		358,708		2,493,877
Burberry Group PLC		33,724		593,984
Capita PLC		31,753		565,353
Centrica PLC		367,536		1,181,473
CNH Industrial NV		42,565		293,151
Cobham PLC		49,771		207,748
Compass Group PLC		142,765		2,472,451
Diageo PLC		159,118		4,353,939
Fiat Chrysler Automobiles NV (b)		96,040		1,347,921
G4S PLC		74,699		248,273
GlaxoSmithKline PLC		218,174		4,415,111
Hammerson PLC		120,255		1,063,463
HSBC Holdings PLC		1,009,868		7,981,040
ICAP PLC		138,608		1,040,880
Imperial Tobacco Group PLC		57,985		3,065,170
InterContinental Hotels Group PLC		10,716		419,813
J Sainsbury PLC (a)		127,145		484,989
Land Securities Group PLC		68,308		1,184,994
Lloyds Banking Group PLC		2,573,528		2,771,635
Marks & Spencer Group PLC		106,569		710,594
National Grid PLC		260,187		3,595,216
Next PLC		20,360		2,187,628
Old Mutual PLC		373,549		984,977
Pearson PLC		57,302		621,607
Prudential PLC		78,405		1,769,241
Randgold Resources, Ltd.		3,540		216,165
Reckitt Benckiser Group PLC		42,206		3,907,249
RELX NV		77,558		1,309,265
RELX PLC		83,421		1,471,762
Rio Tinto PLC		61,451		1,792,885
Rio Tinto, Ltd.		19,934		648,428
Rolls-Royce Holdings PLC (b)		93,427		791,787
Royal Bank of Scotland Group PLC (b)		140,158		623,868
RSA Insurance Group PLC		59,260		372,519
SABMiller PLC		47,644		2,857,705
Sage Group PLC		115,208		1,024,774
Severn Trent PLC		37,687		1,209,256
Sky PLC		82,011		1,344,141
Smith & Nephew PLC		79,431		1,414,246
Smiths Group PLC		19,036		263,597
SSE PLC		75,684		1,704,494
Standard Chartered PLC		115,899		962,932
Standard Life PLC		165,298		949,437
Tesco PLC (b)		464,540		1,023,605
Unilever NV		96,176		4,190,010
Unilever PLC		81,558		3,517,897
United Utilities Group PLC		55,835		769,872
Vodafone Group PLC		1,399,444		4,558,436
Whitbread PLC		8,160		529,309
WPP PLC		82,273		1,895,328
				107,804,920
UNITED STATES — 0.3%
Thomson Reuters Corp.		25,700		969,647
Transocean, Ltd. (a)		7,472		93,307
Valeant Pharmaceuticals International, Inc. (b)		13,739		1,390,219
				2,453,173
TOTAL COMMON STOCKS (Cost $900,202,070)				781,315,581
RIGHTS — 0.0% (d)
ITALY — 0.0% (d)
UBI Banca (expiring 1/12/16) (b)		55,217		2,672
SPAIN — 0.0% (d)
Repsol SA (expiring 1/14/16) (b)		68,133		33,972
TOTAL RIGHTS (Cost $34,431)				36,644
SHORT-TERM INVESTMENTS — 3.8%
UNITED STATES — 3.8%
State Street Navigator Securities Lending Prime Portfolio (e) (f)		29,811,839		29,811,839
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.23% (f) (g)		310,988		310,988
TOTAL SHORT-TERM INVESTMENTS (Cost $30,122,827)				30,122,827
TOTAL INVESTMENTS — 103.3% (Cost $930,359,328)				811,475,052
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.3)%				(26,223,314	)
NET ASSETS — 100.0%			$	785,251,738

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.3% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Amount shown represents less than 0.05% of net assets.

(e) Investment of cash collateral for securities loaned

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

REIT = Real Estate Investment Trust

118

SPDR MSCI ACWI ex-US ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

At December 31, 2015, open forward foreign currency contracts were as follows:

Counterparty	Amount Sold	Amount Bought	Settlement Date	Net Unrealized Appreciation/ (Depreciation)
Barclays SA	USD    33,359	BRL    132,000	01/06/2016	$	6

Abbreviations:

BRL — Brazilian Real

USD — U.S. Dollar

119

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AUSTRALIA — 2.4%
Alumina, Ltd.		20,642	$	17,346
Amcor, Ltd.		1,780		17,405
AMP, Ltd.		6,260		26,552
Australia & New Zealand Banking Group, Ltd. (a)		1,401		28,469
BHP Billiton PLC		408		4,570
BHP Billiton, Ltd.		1,738		22,584
Boral, Ltd. (a)		5,663		24,350
Brambles, Ltd.		4,166		35,068
Coca-Cola Amatil, Ltd.		2,042		13,817
Commonwealth Bank of Australia (a)		461		28,687
CSL, Ltd.		797		61,065
Fortescue Metals Group, Ltd. (a)		3,105		4,224
Iluka Resources, Ltd. (a)		827		3,688
Insurance Australia Group, Ltd.		9,544		38,607
LendLease Group		4,926		51,107
Macquarie Group, Ltd.		835		50,283
National Australia Bank, Ltd.		1,866		41,000
Newcrest Mining, Ltd. (b)		980		9,248
Origin Energy, Ltd.		3,104		10,614
Orora, Ltd.		877		1,436
OZ Minerals, Ltd.		3,003		8,849
QBE Insurance Group, Ltd.		1,461		13,382
Recall Holdings, Ltd.		416		2,103
Santos, Ltd.		3,631		9,722
Scentre Group REIT		4,358		13,285
Shopping Centres Australasia Property Group (a)		42,869		66,433
Sonic Healthcare, Ltd.		2,174		28,265
South32, Ltd. (b) (c)		1,875		1,451
South32, Ltd. (a) (b) (c)		1,738		1,347
Suncorp Group, Ltd.		3,155		27,866
Sydney Airport		462		2,134
Transurban Group Stapled Security (c)		2,941		22,403
Transurban Group (b) (c)		163		1,242
Vicinity Centres REIT		16,205		33,012
Wesfarmers, Ltd.		1,908		57,761
Westfield Corp.		3,497		24,196
Westpac Banking Corp.		2,107		51,446
Woodside Petroleum, Ltd.		803		16,779
Woolworths, Ltd. (a)		707		12,602
				884,398
AUSTRIA — 0.1%
OMV AG		839		23,815
BELGIUM — 0.5%
Anheuser-Busch InBev SA		488		60,645
Delhaize Group		440		42,917
Solvay SA (a)		282		30,153
UCB SA		738		66,725
				200,440
BRAZIL — 0.3%
Ambev SA ADR		4,725		21,073
Banco Bradesco SA ADR (a)		3,251		15,637
Cia Energetica de Minas Gerais ADR		3,554		5,331
Cia Siderurgica Nacional SA ADR (a)		3,119		3,044
Gerdau SA ADR (a)		2,818		3,382
Itau Unibanco Holding SA ADR		3,680		23,957
Petroleo Brasileiro SA ADR (b)		4,704		15,994
Tim Participacoes SA ADR		1,073		9,099
Vale SA ADR		3,748		9,557
				107,074
CANADA — 2.6%
Agrium, Inc. (a)		209		18,607
Bank of Montreal		458		25,744
Bank of Nova Scotia		578		23,289
Barrick Gold Corp.		893		6,583
Brookfield Asset Management, Inc. Class A		1,330		41,793
Cameco Corp.		1,190		14,623
Canadian Imperial Bank of Commerce		209		13,720
Canadian National Railway Co.		901		50,171
Canadian Natural Resources, Ltd.		901		19,601
Canadian Pacific Railway, Ltd.		191		24,300
Canadian Tire Corp., Ltd. Class A (a)		221		18,799
Cenovus Energy, Inc.		1,142		14,387
Eldorado Gold Corp.		1,227		3,622
Enbridge, Inc.		1,019		33,744
Encana Corp.		1,672		8,462
Enerplus Corp. (a)		1,315		4,497
First Quantum Minerals, Ltd. (a)		637		2,375
Goldcorp, Inc.		875		10,072
IAMGOLD Corp. (a) (b)		1,321		1,873
IGM Financial, Inc. (a)		352		8,955
Imperial Oil, Ltd.		655		21,257
Just Energy Group, Inc. (a)		8,000		56,900
Kinross Gold Corp. (b)		1,934		3,495
Loblaw Cos., Ltd.		733		34,479
Manulife Financial Corp.		2,346		35,027
National Bank of Canada (a)		1,237		35,896
Onex Corp.		779		47,567
Penn West Petroleum, Ltd. (a)		1,013		853
Potash Corp. of Saskatchewan, Inc.		666		11,363
Rogers Communications, Inc. Class B		1,239		42,564
Royal Bank of Canada		1,085		57,917
Shaw Communications, Inc. Class B (a)		827		14,169
Silver Wheaton Corp.		584		7,231
SNC-Lavalin Group, Inc.		518		15,334
Sun Life Financial, Inc.		1,279		39,730
Suncor Energy, Inc.		1,821		46,826
Teck Resources, Ltd. Class B (a)		649		2,495
TELUS Corp.		1,750		48,200
TMX Group, Ltd.		20		515
Toronto-Dominion Bank		1,734		67,707
TransAlta Corp.		2,029		7,172
TransCanada Corp. (a)		364		11,842
Yamana Gold, Inc.		1,785		3,302
				957,058
CHILE — 0.0% (d)
Empresa Nacional de Electricidad SA ADR		154		5,707
Enersis SA ADR		392		4,763
Sociedad Quimica y Minera de Chile SA ADR		88		1,673
				12,143
CHINA — 2.2%
Agricultural Bank of China, Ltd. Class H		42,000		17,179
Bank of China, Ltd. Class H		83,000		37,055

120

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bank of Communications Co., Ltd. Class H		30,000	$	21,135
China Construction Bank Corp. Class H		65,000		44,535
China Life Insurance Co., Ltd. Class H		11,000		35,554
China Merchants Bank Co., Ltd. Class H		14,174		33,468
China Mobile, Ltd.		5,500		62,096
China Overseas Land & Investment, Ltd.		12,000		42,115
China Petroleum & Chemical Corp. Class H		35,200		21,256
China Shenhua Energy Co., Ltd. Class H		5,500		8,644
China Telecom Corp., Ltd. Class H		36,000		16,908
China Unicom Hong Kong, Ltd.		12,000		14,632
CITIC, Ltd.		12,000		21,243
CNOOC, Ltd.		18,000		18,743
COSCO Pacific, Ltd.		10,417		11,479
Hengan International Group Co., Ltd.		3,000		28,335
Huaneng Power International, Inc. Class H		24,000		20,717
Industrial & Commercial Bank of China, Ltd. Class H		66,000		39,855
PetroChina Co., Ltd. Class H		24,000		15,731
PICC Property & Casualty Co., Ltd. Class H		13,859		27,574
Ping An Insurance Group Co. of China, Ltd. Class H		6,000		33,290
Sheen Tai Holdings Grp Co., Ltd.		524,000		73,021
Tencent Holdings, Ltd.		6,000		118,062
Wumart Stores, Inc. Class H (b)		59,000		47,351
Yanzhou Coal Mining Co., Ltd. Class H (a)		12,000		5,605
				815,583
COLOMBIA — 0.0% (d)
Bancolombia SA ADR		128		3,424
DENMARK — 0.7%
AP Moeller — Maersk A/S Class B		30		39,193
Danske Bank A/S		1,013		27,309
DSV A/S		1,519		60,077
Novo Nordisk A/S Class B		2,257		131,383
				257,962
FINLAND — 0.4%
Fortum Oyj		791		11,961
Metso Oyj (a)		470		10,569
Nokia Oyj		4,901		35,111
Sampo Oyj Class A		554		28,285
UPM-Kymmene Oyj		1,803		33,747
Valmet Oyj		104		1,005
Wartsila Oyj Abp		536		24,542
				145,220
FRANCE — 3.3%
Accor SA		962		41,806
Airbus Group SE		406		27,344
Alstom SA (a) (b)		732		22,396
AXA SA		1,905		52,211
BNP Paribas SA		1,011		57,362
Bouygues SA		579		22,986
Cap Gemini SA		714		66,393
Carrefour SA		1,133		32,800
Credit Agricole SA		2,069		24,454
Danone SA		556		37,616
Engie SA		971		17,220
Essilor International SA		364		45,492
Groupe Fnac SA (b)		587		34,625
Hermes International		7		2,371
Kering		125		21,448
LVMH Moet Hennessy Louis Vuitton SE		197		31,009
Orange SA		2,775		46,679
Pernod Ricard SA		266		30,398
Publicis Groupe SA		461		30,738
Renault SA		672		67,619
Sanofi		887		75,735
Schneider Electric SE		643		36,713
Societe Generale SA		809		37,411
Sodexo SA		566		55,422
Technip SA		307		15,252
TOTAL SA		1,414		63,384
Unibail-Rodamco SE		215		54,745
Vallourec SA (a)		245		2,289
Veolia Environnement SA		1,705		40,497
Vinci SA		821		52,744
Vivendi SA		2,091		45,111
				1,192,270
GERMANY — 2.9%
adidas AG		488		47,663
Allianz SE		458		81,370
BASF SE		738		56,695
Bayer AG		869		109,314
Commerzbank AG (b)		821		8,537
CompuGroup Medical AG		1,500		55,075
Daimler AG		1,019		85,876
Deutsche Bank AG		1,262		30,880
Deutsche Boerse AG		352		31,122
Deutsche Lufthansa AG (b)		2,108		33,353
Deutsche Post AG		1,750		49,341
Deutsche Telekom AG		2,890		52,397
E.ON SE		1,809		17,550
Fresenius Medical Care AG & Co. KGaA		197		16,634
Linde AG		125		18,182
MAN SE		167		16,817
Merck KGaA		619		60,229
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		266		53,327
OSRAM Licht AG		15		632
RWE AG		607		7,721
Salzgitter AG		643		15,873
SAP SE		901		71,821
Siemens AG		716		69,908
ThyssenKrupp AG		1,130		22,513
Volkswagen AG		215		33,235
Volkswagen AG Preference Shares		197		28,623
				1,074,688
HONG KONG — 1.6%
AIA Group, Ltd.		8,400		50,507
Bank of East Asia, Ltd. (a)		7,637		28,429
Cheung Kong Property Holdings, Ltd.		9,920		64,511
CK Hutchison Holdings, Ltd.		8,920		120,389
Global Brands Group Holding, Ltd. (b)		8,000		1,517
Hang Lung Properties, Ltd.		6,000		13,657
Henderson Land Development Co., Ltd.		7,014		42,988
Hong Kong Exchanges and Clearing, Ltd.		1,836		47,024

121

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SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Li & Fung, Ltd.		12,000	$	8,160
Link REIT		6,058		36,269
New World Development Co., Ltd. (a)		19,476		19,249
Sands China, Ltd.		4,800		16,444
Shangri-La Asia, Ltd.		12,000		11,721
Sun Hung Kai Properties, Ltd.		6,253		75,519
Swire Pacific, Ltd. Class A		3,000		33,754
				570,138
HUNGARY — 0.1%
MOL Hungarian Oil & Gas PLC		137		6,713
Richter Gedeon Nyrt		1,112		21,017
				27,730
INDIA — 0.5%
Dr Reddy’s Laboratories, Ltd. ADR		1,269		58,742
ICICI Bank, Ltd. ADR		3,958		30,991
Infosys, Ltd. ADR		2,215		37,101
Mahindra & Mahindra, Ltd. GDR (c)		178		3,417
Mahindra & Mahindra, Ltd. GDR (c)		138		2,650
Reliance Industries, Ltd. GDR (e)		983		30,080
Tata Motors, Ltd. ADR (b)		1,183		34,863
				197,844
INDONESIA — 0.4%
Astra Agro Lestari Tbk PT		9,000		10,348
Astra International Tbk PT		30,200		13,145
Bank Central Asia Tbk PT		27,200		26,243
Bank Mandiri Persero Tbk PT		27,200		18,252
Bank Rakyat Indonesia Persero Tbk PT		31,800		26,356
Gudang Garam Tbk PT		3,000		11,969
Telekomunikasi Indonesia Persero Tbk PT		200,000		45,049
				151,362
IRELAND — 0.4%
CRH PLC		959		27,815
Experian PLC		2,294		40,607
Prothena Corp. PLC (b)		900		61,299
				129,721
ISRAEL — 0.4%
Bank Hapoalim BM		4,133		21,350
Bank Leumi Le-Israel BM (b)		18,820		65,296
Teva Pharmaceutical Industries, Ltd. ADR		708		46,473
				133,119
ITALY — 0.7%
Assicurazioni Generali SpA		1,714		31,504
Banca Monte dei Paschi di Siena SpA (b)		4,978		6,662
Enel SpA		7,551		31,925
Eni SpA		2,600		38,977
Intesa Sanpaolo SpA		13,625		45,705
Mediaset SpA		6,701		27,894
Saipem SpA (a) (b)		340		2,766
Telecom Italia SpA (a) (b)		31,835		40,634
UniCredit SpA		4,695		26,189
				252,256
JAPAN — 8.6%
Aisin Seiki Co., Ltd. (a)		600		26,136
Asahi Group Holdings, Ltd.		600		18,948
Asahi Kasei Corp.		6,000		41,044
Astellas Pharma, Inc.		3,000		43,181
Bridgestone Corp. (a)		600		20,819
Canon, Inc. (a)		600		18,330
Credit Saison Co., Ltd. (a)		1,200		23,951
Daiichi Sankyo Co., Ltd. (a)		1,800		37,565
Daikin Industries, Ltd.		600		44,396
Daiwa Securities Group, Inc.		6,000		37,149
Denso Corp.		1,200		58,037
Eisai Co., Ltd.		600		40,216
FUJIFILM Holdings Corp.		1,200		50,675
Fujitsu, Ltd.		5,000		25,225
Hitachi, Ltd.		6,000		34,490
Hokuhoku Financial Group, Inc.		12,000		24,739
Honda Motor Co., Ltd.		1,200		39,004
Hoya Corp.		1,200		49,688
ITOCHU Corp.		1,800		21,577
Japan Tobacco, Inc.		1,200		44,600
JFE Holdings, Inc. (a)		1,200		19,153
Joyo Bank, Ltd. (a)		6,000		28,680
JSR Corp. (a)		1,200		18,943
JX Holdings, Inc. (a)		3,000		12,679
Kajima Corp. (a)		6,000		36,111
Kamigumi Co., Ltd. (a)		6,000		52,272
Kansai Electric Power Co., Inc. (b)		1,200		14,559
KDDI Corp. (a)		3,600		94,388
Kobe Steel, Ltd. (a)		18,000		19,901
Komatsu, Ltd.		1,200		19,871
Konica Minolta, Inc.		3,000		30,475
Kyocera Corp.		1,200		56,401
Makita Corp. (a)		600		35,064
Marubeni Corp.		6,000		31,178
Marui Group Co., Ltd. (a)		5,400		88,792
Mitsubishi Chemical Holdings Corp.		3,000		19,310
Mitsubishi Corp.		1,200		20,230
Mitsubishi Electric Corp.		6,000		63,968
Mitsubishi Heavy Industries, Ltd.		6,000		26,600
Mitsubishi UFJ Financial Group, Inc.		10,700		67,343
Mitsui & Co., Ltd.		1,200		14,420
Mizuho Financial Group, Inc.		22,100		44,735
MS&AD Insurance Group Holdings, Inc.		1,200		35,612
Murata Manufacturing Co., Ltd.		600		87,635
NEC Corp.		2,000		6,401
Nippon Steel & Sumitomo Metal Corp. (a)		1,700		34,143
Nippon Yusen KK		12,000		29,428
Nissan Motor Co., Ltd.		2,400		25,527
Nitto Denko Corp.		600		44,451
Nomura Holdings, Inc.		5,900		33,307
NTT Data Corp.		600		29,328
Obayashi Corp.		6,000		55,813
ORIX Corp.		2,400		34,226
Osaka Gas Co., Ltd.		6,000		21,866
Panasonic Corp.		3,600		37,124
Resona Holdings, Inc.		3,600		17,693
Rohm Co., Ltd.		600		30,824
Secom Co., Ltd.		600		41,099
Seven & i Holdings Co., Ltd.		600		27,682
Shin-Etsu Chemical Co., Ltd.		600		33,004
SoftBank Group Corp.		1,200		61,239
Sompo Japan Nipponkoa Holdings, Inc. (a)		1,200		40,012

122

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Sony Corp.		1,800	$	44,920
Sumitomo Chemical Co., Ltd.		6,000		34,964
Sumitomo Corp.		1,200		12,375
Sumitomo Electric Industries, Ltd.		1,800		25,797
Sumitomo Mitsui Financial Group, Inc.		1,200		45,947
Sumitomo Mitsui Trust Holdings, Inc.		6,000		22,993
T&D Holdings, Inc. (a)		2,400		32,101
Takeda Pharmaceutical Co., Ltd.		600		30,251
TDK Corp. (a)		600		39,004
Teijin, Ltd.		6,000		20,699
Terumo Corp. (a)		1,200		37,707
Tokio Marine Holdings, Inc.		1,200		47,004
Tokyo Electron, Ltd.		600		36,520
Tokyu Corp.		6,000		47,882
Toppan Printing Co., Ltd.		6,000		55,813
Toshiba Corp. (a) (b)		6,000		12,464
Toyota Motor Corp.		2,400		149,393
Toyota Tsusho Corp.		1,800		42,630
West Japan Railway Co.		600		41,867
Yamada Denki Co., Ltd.		2,400		10,434
Yamaha Corp.		3,600		88,253
				3,120,275
LUXEMBOURG — 0.0% (d)
ArcelorMittal (a)		1,203		5,093
MEXICO — 0.4%
America Movil SAB de CV Series L		46,226		32,439
Cemex SAB de CV (b)		21,900		11,957
Fomento Economico Mexicano SAB de CV		4,752		44,471
Grupo Financiero Banorte SAB de CV Series O		4,574		25,157
Grupo Mexico SAB de CV Series B		7,607		16,204
Grupo Televisa SAB Series CPO		4,040		22,068
Industrias Penoles SAB de CV		308		3,160
Telesites SAB de CV (b)		2,311		1,500
				156,956
NETHERLANDS — 1.3%
Akzo Nobel NV		463		31,022
ASML Holding NV		436		39,098
Heineken NV		322		27,553
ING Groep NV		4,174		56,451
Koninklijke Ahold NV		1,971		41,698
Koninklijke DSM NV		549		27,600
Koninklijke KPN NV		5,495		20,845
Koninklijke Philips NV		1,638		41,922
Royal Dutch Shell PLC Class A		319		7,175
Royal Dutch Shell PLC Class B		4,678		106,388
Wolters Kluwer NV		2,616		87,995
				487,747
NORWAY — 0.3%
DNB ASA		2,239		27,775
Norsk Hydro ASA		6,885		25,770
Telenor ASA		1,833		30,711
Yara International ASA		382		16,525
				100,781
PERU — 0.0% (d)
Cia de Minas Buenaventura SAA ADR		185		792
PHILIPPINES — 0.1%
Philippine Long Distance Telephone Co. ADR		446		19,067
PORTUGAL — 0.0% (d)
Pharol SGPS SA (b)		5,239		1,542
RUSSIA — 0.3%
Gazprom PAO ADR		4,826		17,810
Lukoil PJSC ADR		590		19,166
MMC Norilsk Nickel PJSC ADR		720		9,140
Mobile TeleSystems PJSC ADR		1,124		6,946
RusHydro PJSC ADR		1,568		1,473
Sberbank of Russia PJSC ADR		2,546		14,948
Surgutneftegas OAO ADR		5,191		30,886
Tatneft PAO ADR (c)		545		14,361
Tatneft PAO ADR (a) (c)		56		1,481
				116,211
SINGAPORE — 0.4%
CapitaLand, Ltd. (a)		18,000		42,505
Singapore Exchange, Ltd. (a)		12,000		65,132
Singapore Press Holdings, Ltd. (a)		12,000		33,328
Singapore Telecommunications, Ltd. (a)		6,000		15,522
				156,487
SOUTH AFRICA — 0.6%
AngloGold Ashanti, Ltd. (b)		524		3,593
Discovery, Ltd.		7,825		67,138
FirstRand, Ltd.		6,592		18,025
Gold Fields, Ltd.		1,269		3,456
Harmony Gold Mining Co., Ltd. (a) (b)		1,406		1,415
Impala Platinum Holdings, Ltd. (a) (b)		953		1,540
Lonmin PLC (b)		13		16
MTN Group, Ltd.		2,434		20,874
Naspers, Ltd. Class N		388		53,084
Sanlam, Ltd.		6,103		23,844
Sasol, Ltd.		470		12,721
Sibanye Gold, Ltd.		625		922
Standard Bank Group, Ltd.		1,577		11,551
				218,179
SOUTH KOREA — 1.5%
Actoz Soft Co., Ltd. (b)		373		9,941
E-MART, Inc.		24		3,868
Hana Financial Group, Inc.		328		6,602
Hyundai Heavy Industries Co., Ltd. (b)		35		2,621
Hyundai Mobis Co., Ltd.		83		17,449
Hyundai Motor Co.		184		23,381
Hyundai Steel Co.		142		6,049
JoyCity Corp. (b)		933		23,314
KB Financial Group, Inc.		448		12,666
KH Vatec Co., Ltd.		1,043		15,033
Kia Motors Corp.		262		11,753
Korea Electric Power Corp. ADR (b)		492		10,416
KT&G Corp.		168		14,972
LG Chem, Ltd. Preference Shares		253		53,295
LG Electronics, Inc.		113		5,185
LG Household & Health Care, Ltd.		25		22,387
Lotte Chemical Corp.		15		3,115
NAVER Corp.		46		25,814
NHN Entertainment Corp. (b)		29		1,407

123

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
POSCO ADR		674	$	23,833
Samsung C&T Corp. (b)		97		11,582
Samsung Electronics Co., Ltd. GDR		228		121,182
Samsung Engineering Co., Ltd. (b)		71		881
Samsung Fire & Marine Insurance Co., Ltd.		55		14,424
Samsung Heavy Industries Co., Ltd.		373		3,451
Samsung Securities Co., Ltd.		270		9,614
SeAH Steel Corp.		1,061		48,591
Shinhan Financial Group Co., Ltd.		448		15,111
SK Holdings Co., Ltd.		59		12,101
SK Hynix, Inc.		693		18,174
SK Innovation Co., Ltd. (b)		59		6,541
				554,753
SPAIN — 0.9%
Acciona SA (a)		786		67,521
Acerinox SA (a)		1,725		17,646
ACS Actividades de Construccion y Servicios SA		1,284		37,681
Banco Bilbao Vizcaya Argentaria SA		5,082		37,203
Banco Santander SA		11,507		56,975
Iberdrola SA		4,361		31,029
Industria de Diseno Textil SA		1,195		41,138
Repsol SA		800		8,795
Telefonica SA		4,159		46,241
				344,229
SWEDEN — 1.1%
Assa Abloy AB Class B		2,034		42,945
Atlas Copco AB Class B		1,893		43,852
Nordea Bank AB		3,286		36,366
Sandvik AB		1,762		15,476
Securitas AB Class B		2,739		42,235
Skandinaviska Enskilda Banken AB Class A		4,145		43,955
Skanska AB Class B		1,797		35,127
SKF AB Class B		1,279		20,815
Svenska Handelsbanken AB Class A		1,681		22,511
Tele2 AB Class B		1,130		11,360
Telefonaktiebolaget LM Ericsson Class B		3,355		32,752
TeliaSonera AB		2,890		14,463
Volvo AB Class A		2,765		26,549
				388,406
SWITZERLAND — 3.3%
ABB, Ltd. (b)		2,497		44,801
Adecco SA (b)		482		33,177
Cie Financiere Richemont SA		678		48,835
Credit Suisse Group AG (b)		1,696		36,750
Geberit AG		197		66,952
Givaudan SA (b)		24		43,708
Glencore PLC		3,281		4,376
Kuehne + Nagel International AG		232		31,938
LafargeHolcim, Ltd. (b)		462		23,215
Nestle SA		2,394		178,294
Novartis AG		1,630		141,343
Roche Holding AG		607		167,607
Santhera Pharmaceutical Holding AG (a) (b)		300		26,883
SGS SA		24		45,818
Swatch Group AG		72		25,189
Swiss Re AG		584		57,262
Syngenta AG		60		23,515
TE Connectivity, Ltd.		1,233		79,664
UBS Group AG		3,393		66,165
Wolseley PLC		524		28,507
Zurich Insurance Group AG (b)		119		30,719
				1,204,718
TAIWAN — 1.3%
Advanced Semiconductor Engineering, Inc. ADR		7,130		40,427
AU Optronics Corp. ADR		12,126		35,287
Chunghwa Telecom Co., Ltd. ADR		1,624		48,769
Hon Hai Precision Industry Co., Ltd. GDR		11,641		59,485
Siliconware Precision Industries Co., Ltd. ADR (a)		8,415		65,216
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		6,773		154,086
United Microelectronics Corp. ADR (a)		27,936		52,520
				455,790
THAILAND — 0.1%
Bangkok Bank PCL		6,600		28,337
PTT PCL		1,200		8,137
				36,474
TURKEY — 0.2%
Akbank TAS		4,514		10,361
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		24,717		22,017
Turkiye Garanti Bankasi A/S		5,221		12,736
Turkiye Is Bankasi		11,982		18,883
				63,997
UNITED KINGDOM — 7.0%
3i Group PLC		10,948		77,712
Anglo American PLC (a)		1,376		6,073
AstraZeneca PLC		1,091		74,234
BAE Systems PLC		5,503		40,522
Barclays PLC		14,771		47,657
BG Group PLC		2,751		39,939
BP PLC		11,427		59,622
British American Tobacco PLC		314		17,452
British Land Co. PLC		3,945		45,702
BT Group PLC		12,841		89,276
Burberry Group PLC		977		17,208
Capita PLC		3,317		59,058
CNH Industrial NV (a)		851		5,861
Cobham PLC		16,349		68,242
Compass Group PLC		2,786		48,249
Diageo PLC		1,678		45,915
G4S PLC		3,848		12,789
GlaxoSmithKline PLC		3,860		78,113
Hammerson PLC		6,230		55,094
HSBC Holdings PLC		14,745		116,531
Imperial Tobacco Group PLC		619		32,721
Indivior PLC		551		1,525
InterContinental Hotels Group PLC		1,555		60,919
J Sainsbury PLC (a)		4,550		17,356
Land Securities Group PLC		2,722		47,221
Liberty Global PLC Class A (b)		619		26,221
Liberty Global PLC Series C (a) (b)		1,103		44,969

124

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Liberty Global PLC LiLAC Class A (b)		30	$	1,241
Liberty Global PLC LiLAC Class C (a) (b)		54		2,322
Lloyds Banking Group PLC		53,476		57,593
Marks & Spencer Group PLC		6,282		41,888
National Grid PLC		1,225		16,927
Next PLC		446		47,922
Old Mutual PLC		9,260		24,417
Pearson PLC		738		8,006
Pentair PLC (a)		71		3,517
Prudential PLC		2,997		67,629
Randgold Resources, Ltd.		181		11,053
Reckitt Benckiser Group PLC		494		45,732
RELX NV		3,245		54,779
RELX PLC		1,922		33,909
Rio Tinto PLC		1,326		38,687
Rio Tinto, Ltd.		626		20,363
Rolls-Royce Holdings PLC (b)		1,952		16,543
RSA Insurance Group PLC		4,358		27,395
SABMiller PLC		809		48,524
Sage Group PLC		10,498		93,380
Severn Trent PLC		1,543		49,510
Sky PLC		1,239		20,307
Smith & Nephew PLC		2,799		49,835
Smiths Group PLC		2,155		29,841
SSE PLC		1,054		23,737
Standard Chartered PLC		3,016		25,058
Standard Life PLC		10,377		59,603
Tesco PLC (b)		7,297		16,079
Tullow Oil PLC (b)		1,097		2,679
Unilever NV		1,231		53,630
Unilever PLC		945		40,761
United Utilities Group PLC		2,745		37,849
Vodafone Group PLC		22,514		73,335
Whitbread PLC		2,017		130,835
WPP PLC		2,125		48,954
				2,560,021
UNITED STATES — 52.8%
3M Co.		619		93,246
Abbott Laboratories		1,233		55,374
AbbVie, Inc.		607		35,959
Accenture PLC Class A		619		64,686
ACE, Ltd. (a)		619		72,330
Adobe Systems, Inc. (b)		1,551		145,701
ADT Corp. (a)		150		4,947
Aetna, Inc.		933		100,876
Aflac, Inc.		1,233		73,857
Agilent Technologies, Inc. (a)		1,233		51,552
Alexion Pharmaceuticals, Inc. (b)		469		89,462
Allegion PLC (a)		202		13,316
Allergan PLC (b)		229		71,563
Allstate Corp.		1,233		76,557
Alphabet, Inc. Class C (b)		302		229,182
Alphabet, Inc. Class A (a) (b)		302		234,959
Altria Group, Inc.		1,233		71,773
Amazon.com, Inc. (b)		399		269,680
American Capital Agency Corp.		619		10,733
American Electric Power Co., Inc.		1,233		71,847
American Express Co.		1,233		85,755
American Tower Corp. REIT		619		60,012
Amgen, Inc.		1,055		171,258
Anadarko Petroleum Corp.		619		30,071
Annaly Capital Management, Inc. (a)		1,233		11,566
Anthem, Inc. (a)		619		86,313
Apache Corp.		619		27,527
Apple, Inc.		4,330		455,776
Applied Materials, Inc.		4,318		80,617
Archer-Daniels-Midland Co.		1,851		67,895
AT&T, Inc. (a)		5,489		188,876
Automatic Data Processing, Inc.		619		52,442
Baker Hughes, Inc.		935		43,150
Bank of America Corp.		10,502		176,749
Bank of New York Mellon Corp. (a)		1,851		76,298
Baxalta, Inc.		1,233		48,124
Baxter International, Inc.		1,233		47,039
Becton, Dickinson and Co. (a)		619		95,382
Bed Bath & Beyond, Inc. (a) (b)		619		29,867
Berkshire Hathaway, Inc. Class B (b)		619		81,733
Biogen, Inc. (b)		379		116,107
Boeing Co. (a)		619		89,501
Bristol-Myers Squibb Co. (a)		1,851		127,330
Broadcom Corp. Class A		1,233		71,292
California Resources Corp. (a)		492		1,146
Cameron International Corp. (b)		1,233		77,926
Capital One Financial Corp.		619		44,679
Carnival Corp.		619		33,723
Caterpillar, Inc. (a)		619		42,067
CBS Corp. Class B, NVDR		1,227		57,829
CDK Global, Inc.		204		9,684
Celgene Corp. (b)		1,237		148,143
CenturyLink, Inc.		1,233		31,022
CH Robinson Worldwide, Inc.		619		38,390
Charles Schwab Corp. (a)		3,087		101,655
Chemours Co.		246		1,319
Chesapeake Energy Corp. (a)		1,851		8,330
Chevron Corp.		1,551		139,528
Chubb Corp.		619		82,104
Church & Dwight Co., Inc. (a)		933		79,193
Cisco Systems, Inc.		6,169		167,519
Citigroup, Inc.		3,087		159,752
Citrix Systems, Inc. (b)		619		46,827
Clorox Co.		619		78,508
Coach, Inc.		619		20,260
Coca-Cola Co.		2,473		106,240
Cognizant Technology Solutions Corp. Class A (b)		1,237		74,245
Colgate-Palmolive Co.		1,233		82,142
Comcast Corp. Class A		1,593		89,893
ConAgra Foods, Inc.		1,233		51,983
ConocoPhillips (a)		1,233		57,569
Corning, Inc.		2,473		45,206
Costco Wholesale Corp.		619		99,969
CST Brands, Inc. (a)		66		2,583
CSX Corp.		2,473		64,174
Cummins, Inc.		619		54,478
CVS Health Corp.		1,233		120,550
Danaher Corp.		1,233		114,521
Deere & Co. (a)		619		47,211
Devon Energy Corp.		619		19,808
Discover Financial Services		1,233		66,113
Dollar Tree, Inc. (b)		833		64,324
Dow Chemical Co. (a)		1,851		95,289

125

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Duke Energy Corp.		672	$	47,974
E.I. du Pont de Nemours & Co.		1,233		82,118
Eaton Corp. PLC		1,233		64,165
eBay, Inc. (a) (b)		1,851		50,865
Ecolab, Inc.		619		70,801
Edison International		1,233		73,006
Eli Lilly & Co.		1,233		103,893
EMC Corp.		2,473		63,507
Emerson Electric Co.		1,233		58,974
EOG Resources, Inc. (a)		1,237		87,567
Equity Residential REIT		619		50,504
Estee Lauder Cos., Inc. Class A		619		54,509
Exelon Corp.		1,233		34,240
Express Scripts Holding Co. (a) (b)		863		75,435
Exxon Mobil Corp.		3,305		257,625
Facebook, Inc. Class A (b)		597		62,482
Fastenal Co. (a)		619		25,268
FedEx Corp.		619		92,225
FirstEnergy Corp.		1,233		39,123
FMC Technologies, Inc. (b)		1,233		35,769
Ford Motor Co.		4,937		69,562
Franklin Resources, Inc.		1,851		68,154
Freeport-McMoRan, Inc.		1,233		8,347
General Dynamics Corp.		619		85,026
General Electric Co. (a)		8,605		268,046
General Mills, Inc.		619		35,692
General Motors Co.		1,233		41,934
Gilead Sciences, Inc.		1,636		165,547
Goldman Sachs Group, Inc.		619		111,562
Halliburton Co.		1,233		41,971
Halyard Health, Inc. (a) (b)		77		2,573
HCP, Inc. REIT		1,851		70,782
Hershey Co. (a)		619		55,258
Hess Corp. (a)		619		30,009
Hewlett Packard Enterprise Co.		2,473		37,590
Home Depot, Inc.		1,233		163,064
Honeywell International, Inc.		1,233		127,702
HP, Inc.		2,473		29,280
Illinois Tool Works, Inc. (a)		933		86,470
Ingersoll-Rand PLC		1,233		68,173
Intel Corp.		4,937		170,080
International Business Machines Corp.		995		136,932
Intuit, Inc.		619		59,734
J.M. Smucker Co.		619		76,347
Johnson & Johnson (a)		1,851		190,135
Johnson Controls, Inc.		1,233		48,691
JPMorgan Chase & Co.		3,705		244,641
Juniper Networks, Inc.		1,233		34,031
Kellogg Co. (a)		619		44,735
Keysight Technologies, Inc. (b)		618		17,508
Kimberly-Clark Corp.		619		78,799
Kinder Morgan, Inc.		1,782		26,587
Kohl’s Corp. (a)		619		29,483
Kraft Heinz Co.		101		7,349
L Brands, Inc.		933		89,400
Las Vegas Sands Corp. (a)		619		27,137
Liberty Interactive Corp. QVC Group Class A (b)		1,233		33,686
Liberty TripAdvisor Holdings, Inc. Class A (b)		84		2,549
Liberty Ventures Series A (b)		260		11,729
Lockheed Martin Corp.		519		112,701
Lowe’s Cos., Inc.		1,851		140,750
LyondellBasell Industries NV Class A		619		53,791
Macy’s, Inc.		1,233		43,130
Mallinckrodt PLC (b)		77		5,747
Marathon Oil Corp. (a)		1,851		23,304
Marathon Petroleum Corp.		1,238		64,178
Marsh & McLennan Cos., Inc.		1,233		68,370
Mattel, Inc. (a)		2,473		67,191
McCormick & Co., Inc.		1,551		132,704
McDonald’s Corp.		619		73,129
McKesson Corp.		469		92,501
Mead Johnson Nutrition Co. (a)		619		48,870
Medtronic PLC		2,559		196,838
Merck & Co., Inc.		2,473		130,624
MetLife, Inc.		1,851		89,237
Microsoft Corp. (a)		6,791		376,765
Mondelez International, Inc. Class A (a)		619		27,756
Monsanto Co.		619		60,984
Morgan Stanley		1,851		58,880
Mosaic Co.		619		17,078
National Oilwell Varco, Inc. (a)		619		20,730
NetApp, Inc. (a)		619		16,422
Newmont Mining Corp.		619		11,136
News Corp. Class A (a)		376		5,023
NextEra Energy, Inc.		619		64,308
NIKE, Inc. Class B (a)		2,066		129,125
Noble Corp. PLC (a)		1,233		13,008
Noble Energy, Inc.		1,233		40,603
Norfolk Southern Corp.		619		52,361
Northrop Grumman Corp.		725		136,887
NOW, Inc. (b)		154		2,436
O’Reilly Automotive, Inc. (b)		519		131,525
Occidental Petroleum Corp.		1,233		83,363
Oracle Corp. (a)		4,318		157,737
Outfront Media, Inc.		3		65
Paragon Offshore PLC		741		70
Parker-Hannifin Corp. (a)		619		60,031
PayPal Holdings, Inc. (b)		1,851		67,006
PepsiCo, Inc.		1,233		123,201
Perrigo Co. PLC (a)		11		1,592
Pfizer, Inc.		6,097		196,811
PG&E Corp.		619		32,925
Philip Morris International, Inc.		1,233		108,393
Phillips 66		302		24,704
Pioneer Natural Resources Co.		619		77,610
PNC Financial Services Group, Inc.		619		58,997
PPL Corp.		1,851		63,175
Praxair, Inc. (a)		619		63,386
Procter & Gamble Co.		1,233		97,913
Prologis, Inc. REIT (a)		1,851		79,445
Prudential Financial, Inc. (a)		1,233		100,379
Public Service Enterprise Group, Inc. (a)		1,233		47,705
Public Storage REIT		519		128,556
QUALCOMM, Inc.		1,851		92,522
Range Resources Corp. (a)		619		15,234
Raytheon Co.		619		77,084
Retail Opportunity Investments Corp.		5,078		90,896
Ross Stores, Inc. (a)		1,238		66,617
salesforce.com, Inc. (b)		1,275		99,960
SanDisk Corp. (a)		619		47,038

126

SPDR MSCI ACWI IMI ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Schlumberger, Ltd.		933	$	65,077
Seagate Technology PLC (a)		619		22,693
Seventy Seven Energy, Inc. (a) (b)		235		247
Simon Property Group, Inc. REIT		619		120,358
Southern Co. (a)		619		28,963
Southwestern Energy Co. (a) (b)		619		4,401
Spectra Energy Corp. (a)		1,233		29,518
St. Jude Medical, Inc.		1,233		76,162
Starbucks Corp.		2,466		148,034
State Street Corp. (a) (f)		619		41,077
Synchrony Financial (b)		690		20,983
Sysco Corp.		1,233		50,553
Talen Energy Corp. (a) (b)		192		1,196
Target Corp. (a)		619		44,946
Texas Instruments, Inc.		1,851		101,453
Thermo Fisher Scientific, Inc.		1,033		146,531
Time Warner Cable, Inc.		619		114,880
Time Warner, Inc.		995		64,347
Time, Inc. (a)		154		2,413
TJX Cos., Inc. (a)		1,233		87,432
Transocean, Ltd. (a)		440		5,495
Travelers Cos., Inc. (a)		619		69,860
Twenty-First Century Fox, Inc. Class A		3,087		83,843
Tyco International PLC		619		19,740
Tyson Foods, Inc. Class A (a)		1,973		105,220
Union Pacific Corp.		1,237		96,733
United Financial Bancorp, Inc.		7,881		101,507
United Parcel Service, Inc. Class B (a)		619		59,566
United Technologies Corp.		619		59,467
UnitedHealth Group, Inc.		1,233		145,050
US Bancorp		1,851		78,982
Valeant Pharmaceuticals International, Inc. (b)		708		71,641
Valero Energy Corp.		1,233		87,185
Vector Group, Ltd.		5,242		123,659
Verizon Communications, Inc.		2,091		96,646
Viacom, Inc. Class B		619		25,478
Visa, Inc. Class A (a)		2,478		192,169
Wal-Mart Stores, Inc.		1,233		75,583
Walgreens Boots Alliance, Inc.		1,233		104,996
Walt Disney Co. (a)		1,851		194,503
Waste Management, Inc.		1,233		65,805
Weatherford International PLC (a) (b)		3,087		25,900
Wells Fargo & Co.		4,937		268,375
Western Digital Corp. (a)		619		37,171
Whole Foods Market, Inc. (a)		1,233		41,306
Williams Cos., Inc. (a)		1,851		47,571
WP Glimcher, Inc.		307		3,257
Yahoo!, Inc. (b)		1,851		61,564
Yum! Brands, Inc.		619		45,218
Zoetis, Inc.		71		3,402
				19,249,190
TOTAL COMMON STOCKS (Cost $39,251,504)				36,376,953
RIGHTS — 0.0% (d)
SOUTH KOREA — 0.0% (d)
Samsung Engineering Co., Ltd. (expiring 2/12/16) (b)		239		1,312
SPAIN — 0.0% (d)
Repsol SA (expiring 1/14/16) (b)		800		399
TOTAL RIGHTS (Cost $3,735)				1,711
SHORT-TERM INVESTMENTS — 11.7%
UNITED STATES — 11.7%
State Street Navigator Securities Lending Prime Portfolio (g) (h)		4,246,350		4,246,350
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (h) (i)		23,994		23,994
TOTAL SHORT-TERM INVESTMENTS (Cost $4,270,344)				4,270,344
TOTAL INVESTMENTS — 111.4% (Cost $43,525,583)				40,649,008
LIABILITIES IN EXCESS OF OTHER ASSETS — (11.4)%				(4,168,541	)
NET ASSETS — 100.0%			$	36,480,467

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Amount shown represents less than 0.05% of net assets.

(e) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.1% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(f) Affiliated issuer (see accompanying Notes to Schedules of Investments).

(g) Investment of cash collateral for securities loaned

(h) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(i) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

REIT = Real Estate Investment Trust

127

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SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 2.4%
AMP, Ltd.		6,274	$	26,612
APA Group		12,101		76,419
ASX, Ltd.		66		2,039
Aurizon Holdings, Ltd.		1,467		4,675
Australia & New Zealand Banking Group, Ltd.		7,335		149,051
Brambles, Ltd.		5,506		46,348
Caltex Australia, Ltd.		4,035		110,675
Coca-Cola Amatil, Ltd.		1,923		13,011
Commonwealth Bank of Australia		4,387		272,991
Computershare, Ltd.		876		7,406
Crown Resorts, Ltd.		2,772		25,210
CSL, Ltd.		931		71,332
Dexus Property Group REIT		4,670		25,482
Fortescue Metals Group, Ltd.		3,848		5,235
Goodman Group REIT		5,724		26,111
GPT Group REIT		4,148		14,425
Harvey Norman Holdings, Ltd.		1,832		5,571
Iluka Resources, Ltd.		8,594		38,328
Insurance Australia Group, Ltd.		5,762		23,308
LendLease Group		1,645		17,067
Macquarie Group, Ltd.		852		51,307
Mirvac Group REIT		17,680		25,469
National Australia Bank, Ltd.		6,742		148,135
Oil Search, Ltd.		11,365		55,400
QBE Insurance Group, Ltd.		3,531		32,344
Ramsay Health Care, Ltd.		132		6,525
Scentre Group REIT		17,163		52,320
SEEK, Ltd.		924		10,339
Sonic Healthcare, Ltd.		723		9,400
Stockland REIT		11,514		34,346
Suncorp Group, Ltd.		2,904		25,650
Sydney Airport		6,793		31,383
Tabcorp Holdings, Ltd.		4,432		15,187
Tatts Group, Ltd.		8,523		27,222
Telstra Corp., Ltd.		14,221		58,044
Transurban Group Stapled Security (a)		9,322		71,010
Transurban Group (a) (b)		518		3,946
Treasury Wine Estates, Ltd.		2,515		15,187
Wesfarmers, Ltd.		2,537		76,804
Westfield Corp.		3,917		27,102
Westpac Banking Corp.		8,266		201,827
Woolworths, Ltd.		2,913		51,924
				1,992,167
AUSTRIA — 0.0% (c)
Andritz AG		120		5,873
Erste Group Bank AG (b)		443		13,912
Raiffeisen Bank International AG (b)		720		10,641
				30,426
BELGIUM — 0.5%
Ageas		648		30,128
Anheuser-Busch InBev SA		2,183		271,287
Colruyt SA		540		27,831
KBC Groep NV		519		32,514
Proximus SADP		312		10,168
UCB SA		240		21,699
Umicore SA		144		6,048
				399,675
BERMUDA — 0.0% (c)
Marvell Technology Group, Ltd.		2,368		20,886
BRAZIL — 0.6%
Ambev SA		10,782		48,647
Banco Bradesco SA Preference Shares		5,691		27,734
Banco do Brasil SA		2,369		8,826
BB Seguridade Participacoes SA		1,188		7,306
BM&FBovespa SA		3,555		9,786
BRF SA		1,188		16,636
CCR SA		3,555		11,277
Cia Energetica de Minas Gerais Preference Shares		5,931		9,190
Cia Energetica de Sao Paulo Class B, Preference Shares		4,743		16,065
Cielo SA		1,425		12,099
Cosan SA Industria e Comercio		4,743		30,211
CPFL Energia SA (b)		6,120		23,482
Embraer SA		1,188		9,066
Equatorial Energia SA		4,000		34,619
Estacio Participacoes SA		1,188		4,189
Itau Unibanco Holding SA Preference Shares		6,524		43,419
Klabin SA		1,212		7,184
Kroton Educacional SA		3,555		8,563
Telefonica Brasil SA Preference Shares		1,540		13,916
Tim Participacoes SA		1,483		2,571
Ultrapar Participacoes SA		10,677		163,140
				507,926
CANADA — 2.8%
Agnico Eagle Mines, Ltd.		1,188		31,105
Alimentation Couche-Tard, Inc. Class B		1,188		52,092
AltaGas, Ltd.		2,368		52,675
Bank of Montreal		1,188		66,776
Bank of Nova Scotia		2,864		115,397
BCE, Inc.		588		22,629
BlackBerry, Ltd. (b)		732		6,766
Bombardier, Inc. Class B		2,368		2,284
Brookfield Asset Management, Inc. Class A		1,782		55,996
Cameco Corp.		8,274		101,675
Canadian Imperial Bank of Commerce		588		38,600
Canadian National Railway Co.		1,632		90,876
Canadian Pacific Railway, Ltd.		324		41,221
CCL Industries, Inc. Class B		200		32,304
Eldorado Gold Corp.		3,555		10,493
Enbridge, Inc.		5,131		169,913
First Quantum Minerals, Ltd.		5,927		22,102
Fortis, Inc.		3,961		106,674
Franco-Nevada Corp.		1,188		54,136
Goldcorp, Inc.		4,742		54,585
Inter Pipeline, Ltd.		6,019		96,237
Keyera Corp.		1,464		42,431
Loblaw Cos., Ltd.		396		18,627
Magna International, Inc.		552		22,301
Manulife Financial Corp.		3,555		53,078
Pembina Pipeline Corp.		3,555		77,160
PrairieSky Royalty, Ltd.		7,030		110,934
Restaurant Brands International, Inc.		151		5,625
Rogers Communications, Inc. Class B		1,188		40,812
Royal Bank of Canada		3,131		167,133

128

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Seven Generations Energy, Ltd. Class A (b)		7,748	$	75,188
Silver Wheaton Corp.		4,260		52,748
SNC-Lavalin Group, Inc.		563		16,666
Sun Life Financial, Inc.		1,188		36,903
Toronto-Dominion Bank		3,959		154,587
TransCanada Corp.		4,259		138,553
Veresen, Inc.		6,839		43,621
Vermilion Energy, Inc.		2,368		64,114
Yamana Gold, Inc.		4,742		8,773
				2,353,790
CHILE — 0.2%
Aguas Andinas SA Class A		112,426		57,686
Antofagasta PLC		9,977		69,011
Cencosud SA		3,771		7,530
Cia Cervecerias Unidas SA		567		6,273
SACI Falabella		3,099		19,750
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares		372		6,987
				167,237
CHINA — 2.3%
Agricultural Bank of China, Ltd. Class H		108,000		44,175
Alibaba Group Holding, Ltd. ADR (b)		1,229		99,881
Baidu, Inc. ADR (b)		367		69,378
Bank of China, Ltd. Class H		288,000		128,576
Bank of Communications Co., Ltd. Class H		48,000		33,816
Beijing Capital International Airport Co., Ltd. Class H		24,000		25,920
Beijing Enterprises Water Group, Ltd. (b)		48,000		33,630
Belle International Holdings, Ltd.		12,000		9,011
China Cinda Asset Management Co., Ltd. Class H		12,000		4,444
China CITIC Bank Corp., Ltd. Class H (b)		19,000		12,307
China Communications Construction Co., Ltd. Class H		12,000		12,263
China Construction Bank Corp. Class H		240,000		164,436
China Everbright Bank Co., Ltd. Class H		12,000		5,837
China Jinmao Holdings Group, Ltd.		24,000		8,206
China Life Insurance Co., Ltd. Class H		24,000		77,573
China Merchants Bank Co., Ltd. Class H		18,000		42,502
China Merchants Holdings International Co., Ltd.		8,000		25,445
China Minsheng Banking Corp., Ltd. Class H		24,000		23,783
China Mobile, Ltd.		14,000		158,061
China Oilfield Services, Ltd. Class H		24,000		20,655
China Overseas Land & Investment, Ltd.		10,000		35,096
China Pacific Insurance Group Co., Ltd. Class H		4,800		19,757
China Resources Land, Ltd.		8,000		23,329
China Telecom Corp., Ltd. Class H		48,000		22,544
China Unicom Hong Kong, Ltd.		24,000		29,264
Chongqing Changan Automobile Co., Ltd. Class B		2,400		5,295
Chongqing Rural Commercial Bank Co., Ltd. Class H		12,000		7,262
CITIC Securities Co., Ltd. Class H		6,000		14,028
CITIC, Ltd.		12,000		21,243
COSCO Pacific, Ltd.		24,415		26,903
Country Garden Holdings Co., Ltd.		12,000		4,924
Great Wall Motor Co., Ltd. Class H		18,000		20,973
Guangdong Investment, Ltd.		48,000		68,004
Haitong Securities Co., Ltd. Class H		4,800		8,485
Industrial & Commercial Bank of China, Ltd. Class H		240,000		144,926
Jiangsu Expressway Co., Ltd. Class H		24,000		32,392
Kunlun Energy Co., Ltd.		48,000		42,735
Lenovo Group, Ltd.		24,000		24,371
Ping An Insurance Group Co. of China, Ltd. Class H		12,000		66,579
Shanghai Pharmaceuticals Holding Co., Ltd. Class H		2,400		5,196
Sinopec Engineering Group Co., Ltd. Class H		6,000		5,125
Sinopharm Group Co., Ltd. Class H		4,800		19,262
Tencent Holdings, Ltd.		12,000		236,124
Want Want China Holdings, Ltd.		12,000		8,934
Yangzijiang Shipbuilding Holdings, Ltd.		24,000		18,609
Yuexiu Property Co., Ltd.		48,000		8,299
Zhejiang Expressway Co., Ltd. Class H		24,000		28,861
				1,948,419
COLOMBIA — 0.1%
Bancolombia SA Preference Shares		936		6,369
Grupo Aval Acciones y Valores SA Preference Shares		58,061		19,936
Grupo de Inversiones Suramericana SA Preference Shares		2,757		30,223
Interconexion Electrica SA ESP		18,516		43,045
				99,573
DENMARK — 0.6%
Carlsberg A/S Class B		229		20,417
Chr Hansen Holding A/S		537		33,745
Coloplast A/S Class B		264		21,405
Danske Bank A/S		1,980		53,378
Novo Nordisk A/S Class B		4,610		268,354
Novozymes A/S Class B		1,006		48,412
Pandora A/S		300		38,080
TDC A/S		2,368		11,854
Vestas Wind Systems A/S		624		43,945
				539,590
FINLAND — 0.4%
Elisa Oyj		600		22,676
Kone Oyj Class B		1,503		63,953
Metso Oyj		396		8,905
Neste Oyj		1,197		35,927
Nokia Oyj		9,566		68,532
Nokian Renkaat Oyj		348		12,513
Orion Oyj Class B		288		10,002
Sampo Oyj Class A		1,716		87,612
Wartsila Oyj Abp		780		35,714
				345,834
FRANCE — 3.1%
Aeroports de Paris		252		29,346
Airbus Group SE		1,692		113,957
Alcatel-Lucent (b)		3,399		13,477
Atos SE		230		19,351
AXA SA		6,482		177,655
BNP Paribas SA		2,855		161,985
Bollore SA (a)		5,996		27,988

129

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bollore SA (a) (b)		27	$	124
Bureau Veritas SA		612		12,226
Cap Gemini SA		372		34,591
Carrefour SA		872		25,244
Christian Dior SE		240		40,867
CNP Assurances		1,800		24,324
Credit Agricole SA		3,770		44,557
Danone SA		1,687		114,134
Dassault Systemes		205		16,428
Edenred		529		10,028
Essilor International SA		519		64,864
Eutelsat Communications SA		262		7,855
Fonciere Des Regions		178		15,952
Gecina SA		120		14,613
Groupe Eurotunnel SE		1,152		14,341
Hermes International		64		21,674
Iliad SA		48		11,471
Kering		252		43,238
Klepierre		623		27,741
L’Oreal SA		792		133,612
Lagardere SCA		240		7,172
Legrand SA		960		54,437
LVMH Moet Hennessy Louis Vuitton SE		804		126,554
Natixis SA		1,872		10,609
Orange SA		5,063		85,167
Pernod Ricard SA		840		95,994
Peugeot SA (b)		768		13,520
Publicis Groupe SA		624		41,607
Remy Cointreau SA		108		7,744
Renault SA		648		65,204
Rexel SA		1,667		22,237
Safran SA		788		54,245
Sanofi		3,023		258,113
Schneider Electric SE		1,848		105,513
SCOR SE		546		20,469
Societe BIC SA		72		11,861
Societe Generale SA		2,356		108,950
Sodexo SA		396		38,776
Technip SA		772		38,355
Thales SA		307		23,045
Unibail-Rodamco SE		276		70,278
Valeo SA		72		11,149
Vinci SA		1,162		74,651
Vivendi SA		3,543		76,436
Zodiac Aerospace		780		18,620
				2,662,349
GERMANY — 3.1%
adidas AG		498		48,639
Allianz SE		1,328		235,938
BASF SE		1,962		150,727
Bayer AG		1,872		235,486
Bayerische Motoren Werke AG		996		105,631
Bayerische Motoren Werke AG Preference Shares		349		29,348
Beiersdorf AG		237		21,667
Brenntag AG		600		31,468
Commerzbank AG (b)		2,463		25,610
Continental AG		192		46,834
Daimler AG		2,602		219,284
Deutsche Bank AG		4,311		105,486
Deutsche Boerse AG		293		25,905
Deutsche Post AG		1,812		51,089
Deutsche Telekom AG		7,598		137,754
Deutsche Wohnen AG		891		24,793
Fraport AG Frankfurt Airport Services Worldwide		336		21,513
Fresenius Medical Care AG & Co. KGaA		443		37,406
Fresenius SE & Co. KGaA		648		46,438
GEA Group AG		420		17,064
Hannover Rueck SE		154		17,674
Henkel AG & Co. KGaA		246		23,682
Henkel AG & Co. KGaA Preference Shares		507		56,838
HUGO BOSS AG		84		6,990
Infineon Technologies AG		2,812		41,253
Merck KGaA		360		35,028
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		527		105,651
Porsche Automobil Holding SE Preference Shares		912		49,545
ProSiebenSat.1 Media SE		455		23,114
SAP SE		2,475		197,289
Siemens AG		2,356		230,032
Symrise AG		840		55,963
Telefonica Deutschland Holding AG		3,251		17,273
Volkswagen AG		48		7,420
Volkswagen AG Preference Shares		449		65,236
Vonovia SE		1,115		34,581
				2,585,649
GREECE — 0.0% (c)
Eurobank Ergasias SA (b)		199		225
FF Group (b)		192		3,608
Hellenic Telecommunications Organization SA		555		5,571
JUMBO SA (b)		495		5,216
National Bank of Greece SA (b)		238		89
OPAP SA		531		4,672
Piraeus Bank SA (b)		45		13
				19,394
HONG KONG — 1.3%
AIA Group, Ltd.		24,000		144,307
BOC Hong Kong Holdings, Ltd.		6,000		18,348
Cheung Kong Infrastructure Holdings, Ltd.		12,000		111,172
Cheung Kong Property Holdings, Ltd.		6,959		45,255
CK Hutchison Holdings, Ltd.		12,000		161,958
Galaxy Entertainment Group, Ltd.		8,000		25,238
GCL-Poly Energy Holdings, Ltd.		24,000		3,592
Hanergy Thin Film Power Group, Ltd. (b) (c)		24,000		—
Hang Lung Properties, Ltd.		12,000		27,313
Hong Kong & China Gas Co., Ltd.		66,000		129,443
Hong Kong Exchanges and Clearing, Ltd.		2,418		61,931
Li & Fung, Ltd.		24,000		16,320
Link REIT		6,000		35,922
MTR Corp., Ltd.		12,087		59,888
New World Development Co., Ltd.		25,304		25,010
Sands China, Ltd.		4,800		16,444
Shimao Property Holdings, Ltd.		6,000		10,668
Sun Art Retail Group, Ltd.		6,000		4,529
Sun Hung Kai Properties, Ltd.		12,000		144,926
Swire Properties, Ltd.		4,800		13,873
Wharf Holdings, Ltd.		12,000		66,579
				1,122,716

130

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
INDIA — 0.6%
Asian Paints, Ltd.		2,679	$	35,779
Bharat Petroleum Corp., Ltd.		3,212		43,323
Cairn India, Ltd.		21,424		44,722
Hindustan Unilever, Ltd.		1,929		25,156
Housing Development Finance Corp., Ltd.		3,253		62,140
ICICI Bank, Ltd. ADR		1,324		10,367
Infosys, Ltd. ADR		4,661		78,072
ITC, Ltd.		6,024		29,849
Larsen & Toubro, Ltd. GDR		938		18,197
Mahindra & Mahindra, Ltd. GDR		789		15,149
Reliance Industries, Ltd.		1,864		28,587
State Bank of India GDR		436		14,715
Sun Pharmaceutical Industries, Ltd.		1,988		24,646
Tata Consultancy Services, Ltd.		1,304		48,033
Tata Motors, Ltd. ADR (b)		585		17,240
Wipro, Ltd. ADR		1,128		13,017
				508,992
INDONESIA — 0.2%
Astra International Tbk PT		64,800		28,205
Bank Central Asia Tbk PT		18,000		17,367
Bank Mandiri Persero Tbk PT		24,000		16,105
Bank Rakyat Indonesia Persero Tbk PT		24,000		19,891
Bumi Serpong Damai Tbk PT		47,200		6,163
Charoen Pokphand Indonesia Tbk PT		18,000		3,395
Jasa Marga Persero Tbk PT		24,000		9,097
Perusahaan Gas Negara Persero Tbk PT		124,800		24,851
Telekomunikasi Indonesia Persero Tbk PT		144,000		32,435
Unilever Indonesia Tbk PT		6,000		16,104
United Tractors Tbk PT		6,000		7,378
				180,991
IRELAND — 0.3%
Bank of Ireland (b)		51,284		18,830
Experian PLC		3,779		66,894
Kerry Group PLC Class A		348		28,848
Shire PLC		1,491		103,242
XL Group PLC		1,188		46,546
				264,360
ISRAEL — 0.2%
Bank Hapoalim BM		3,363		17,372
Bank Leumi Le-Israel BM (b)		1,537		5,333
Bezeq The Israeli Telecommunication Corp., Ltd.		3,767		8,297
Check Point Software Technologies, Ltd. (b)		237		19,287
Teva Pharmaceutical Industries, Ltd.		2,195		143,567
				193,856
ITALY — 0.7%
Assicurazioni Generali SpA		3,744		68,816
Atlantia SpA		2,049		54,533
Banco Popolare SC (b)		672		9,351
Enel Green Power SpA		41,147		84,166
Intesa Sanpaolo SpA		30,486		102,265
Luxottica Group SpA		420		27,557
Mediobanca SpA		1,740		16,794
Snam SpA		17,307		90,807
Telecom Italia SpA (a) (b)		8,762		11,184
Telecom Italia SpA (a)		37,771		39,020
Terna Rete Elettrica Nazionale SpA		9,967		51,494
UniCredit SpA		10,735		59,882
Unione di Banche Italiane SpA		1,128		7,597
UnipolSai SpA		3,687		9,452
				632,918
JAPAN — 8.6%
Alfresa Holdings Corp.		1,200		23,991
Amada Holdings Co., Ltd.		1,200		11,611
Asahi Group Holdings, Ltd.		1,200		37,897
Astellas Pharma, Inc.		6,000		86,363
Bridgestone Corp.		1,100		38,168
Brother Industries, Ltd.		1,200		13,986
Canon, Inc.		3,600		109,980
Central Japan Railway Co.		1,200		215,470
Chugai Pharmaceutical Co., Ltd.		1,200		42,296
Dai-ichi Life Insurance Co., Ltd.		2,400		40,600
Daiichi Sankyo Co., Ltd.		1,200		25,043
Daikin Industries, Ltd.		1,200		88,792
Daiwa House Industry Co., Ltd.		2,400		69,888
Daiwa Securities Group, Inc.		12,000		74,297
Denso Corp.		1,200		58,037
Dentsu, Inc.		1,200		66,636
East Japan Railway Co.		1,200		114,219
Eisai Co., Ltd.		600		40,216
FANUC Corp.		1,200		210,283
Fast Retailing Co., Ltd.		100		35,446
Fuji Heavy Industries, Ltd.		2,400		100,293
FUJIFILM Holdings Corp.		1,200		50,675
GungHo Online Entertainment, Inc. (b)		1,200		3,282
Hino Motors, Ltd.		1,200		14,055
Hitachi Chemical Co., Ltd.		1,200		19,313
Hitachi Construction Machinery Co., Ltd.		1,200		18,933
Hitachi Metals, Ltd.		12,000		150,131
Hitachi, Ltd.		12,000		68,980
Honda Motor Co., Ltd.		4,800		156,017
Hoya Corp.		1,200		49,688
Isuzu Motors, Ltd.		1,200		13,108
ITOCHU Corp.		6,400		76,718
Japan Tobacco, Inc.		3,600		133,801
JTEKT Corp.		1,200		20,001
Kansai Paint Co., Ltd.		2,400		36,810
Kao Corp.		1,200		62,397
KDDI Corp.		4,600		120,607
Keyence Corp.		100		55,763
Kirin Holdings Co., Ltd.		1,200		16,435
Komatsu, Ltd.		3,600		59,613
Kubota Corp.		3,000		47,084
Kyocera Corp.		1,200		56,401
Lawson, Inc.		300		24,565
Makita Corp.		400		23,376
Marubeni Corp.		15,600		81,064
Mazda Motor Corp.		1,200		25,178
Medipal Holdings Corp.		2,400		41,378
MEIJI Holdings Co., Ltd.		300		25,063
Mitsubishi Corp.		3,900		65,748
Mitsubishi Electric Corp.		12,000		127,936
Mitsubishi Estate Co., Ltd.		3,000		62,933
Mitsubishi Heavy Industries, Ltd.		12,000		53,199
Mitsubishi Motors Corp.		1,200		10,275
Mitsubishi UFJ Financial Group, Inc.		34,400		216,503
Mitsubishi UFJ Lease & Finance Co., Ltd.		2,400		12,529
Mitsui & Co., Ltd.		4,800		57,678

131

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Mitsui Fudosan Co., Ltd.		2,000	$	50,808
Mizuho Financial Group, Inc.		81,600		165,174
MS&AD Insurance Group Holdings, Inc.		2,400		71,225
Murata Manufacturing Co., Ltd.		400		58,423
NEC Corp.		9,000		28,804
Nidec Corp.		1,200		88,153
Nikon Corp.		1,200		16,210
Nintendo Co., Ltd.		300		41,785
Nippon Paint Holdings Co., Ltd.		1,100		27,049
Nippon Telegraph & Telephone Corp.		2,400		96,483
Nissan Motor Co., Ltd.		7,200		76,582
Nitto Denko Corp.		1,200		88,901
Nomura Holdings, Inc.		12,000		67,743
NTT DOCOMO, Inc.		4,100		84,662
Olympus Corp.		1,200		47,882
Omron Corp.		500		16,896
Ono Pharmaceutical Co., Ltd.		200		36,061
Oriental Land Co., Ltd.		600		36,595
ORIX Corp.		4,800		68,452
Otsuka Holdings Co., Ltd.		1,200		43,064
Panasonic Corp.		4,800		49,498
Rakuten, Inc. (b)		2,400		27,991
Resona Holdings, Inc.		8,400		41,283
Ricoh Co., Ltd.		2,400		24,959
SBI Holdings, Inc.		1,200		13,178
Secom Co., Ltd.		1,200		82,198
Sekisui House, Ltd.		2,400		40,830
Seven & i Holdings Co., Ltd.		2,400		110,728
Shimano, Inc.		200		31,024
Shin-Etsu Chemical Co., Ltd.		1,200		66,008
Shionogi & Co., Ltd.		1,200		54,895
Shiseido Co., Ltd.		1,200		25,228
SMC Corp.		200		52,820
SoftBank Group Corp.		2,400		122,479
Sompo Japan Nipponkoa Holdings, Inc.		1,200		40,012
Sony Corp.		3,200		79,857
Sumitomo Corp.		8,400		86,622
Sumitomo Metal Mining Co., Ltd.		12,000		147,587
Sumitomo Mitsui Financial Group, Inc.		3,600		137,841
Sumitomo Mitsui Trust Holdings, Inc.		12,000		45,987
Sumitomo Realty & Development Co., Ltd.		1,000		28,887
Suzuki Motor Corp.		1,200		36,939
Sysmex Corp.		300		19,527
T&D Holdings, Inc.		2,400		32,101
Takeda Pharmaceutical Co., Ltd.		2,400		121,003
Terumo Corp.		600		18,854
Toho Gas Co., Ltd.		12,000		78,308
Tokio Marine Holdings, Inc.		2,400		94,009
Tokyo Electron, Ltd.		500		30,434
Tokyo Gas Co., Ltd.		12,000		56,940
Tokyu Corp.		12,000		95,765
Tokyu Fudosan Holdings Corp.		1,200		7,601
Toyota Industries Corp.		700		37,998
Toyota Motor Corp.		7,200		448,178
Toyota Tsusho Corp.		1,200		28,420
Unicharm Corp.		1,200		24,709
Yahoo Japan Corp.		3,600		14,784
Yamato Holdings Co., Ltd.		1,200		25,697
				7,252,880
LUXEMBOURG — 0.0% (d)
RTL Group SA		120		10,044
SES SA		612		17,003
				27,047
MACAU — 0.0% (d)
MGM China Holdings, Ltd.		4,800		6,008
Wynn Macau, Ltd.		4,800		5,611
				11,619
MALAYSIA — 0.3%
Axiata Group Bhd		6,226		9,295
CIMB Group Holdings Bhd		12,108		12,803
Gamuda Bhd		9,600		10,420
Genting Bhd		10,800		18,463
Genting Malaysia Bhd		16,800		17,139
IJM Corp. Bhd		14,400		11,336
IOI Properties Group Bhd		8,750		4,585
Malayan Banking Bhd		11,380		22,264
Petronas Chemicals Group Bhd		13,200		22,351
Petronas Dagangan Bhd		4,800		27,793
Petronas Gas Bhd		12,000		63,445
PPB Group Bhd		3,600		13,332
Public Bank Bhd		731		3,153
SapuraKencana Petroleum Bhd		47,300		22,254
				258,633
MEXICO — 0.5%
America Movil SAB de CV Series L		85,329		59,879
Coca-Cola Femsa SAB de CV Series L		1,188		8,523
Fibra Uno Administracion SA de CV		5,003		11,005
Fomento Economico Mexicano SAB de CV		4,742		44,377
Fresnillo PLC		1,848		19,284
Grupo Aeroportuario del Pacifico SAB de CV Class B		1,188		10,459
Grupo Financiero Banorte SAB de CV Series O		4,742		26,081
Grupo Financiero Santander Mexico SAB de CV Class B		2,368		4,148
Grupo Mexico SAB de CV Series B		70,228		149,596
Grupo Televisa SAB Series CPO		4,742		25,902
OHL Mexico SAB de CV (b)		10,334		10,794
Telesites SAB de CV (b)		466		302
Wal-Mart de Mexico SAB de CV		16,589		41,772
				412,122
NETHERLANDS — 0.8%
Aegon NV		8,707		49,467
AerCap Holdings NV (b)		622		26,845
Akzo Nobel NV		281		18,828
Altice NV Class A (b)		396		5,700
ASML Holding NV		924		82,859
Gemalto NV		168		10,087
Heineken NV		660		56,475
ING Groep NV		10,034		135,704
Koninklijke Ahold NV		732		15,486
Koninklijke KPN NV		7,694		29,186
Koninklijke Philips NV		2,820		72,173
Koninklijke Vopak NV		2,040		87,911
NN Group NV		685		24,221
OCI NV (b)		204		5,053
Randstad Holding NV		552		34,497

132

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Steinhoff International Holdings NV		4,682	$	23,722
Wolters Kluwer NV		346		11,638
				689,852
NEW ZEALAND — 0.1%
Auckland International Airport, Ltd.		1,552		6,109
Meridian Energy, Ltd.		27,944		45,722
				51,831
NORWAY — 0.2%
DNB ASA		3,119		38,691
Gjensidige Forsikring ASA		336		5,394
Orkla ASA		6,430		50,924
Telenor ASA		2,760		46,242
				141,251
PERU — 0.0% (c)
Credicorp, Ltd.		216		21,021
PHILIPPINES — 0.1%
Aboitiz Power Corp.		54,000		47,855
Energy Development Corp.		45,500		5,995
International Container Terminal Services, Inc.		2,400		3,586
JG Summit Holdings, Inc.		4,720		7,353
Philippine Long Distance Telephone Co.		300		13,133
SM Investments Corp.		360		6,610
SM Prime Holdings, Inc.		22,800		10,514
Universal Robina Corp.		1,440		5,692
				100,738
POLAND — 0.1%
Bank Pekao SA		420		15,262
Bank Zachodni WBK SA (b)		96		6,904
Cyfrowy Polsat SA (b)		864		4,569
mBank SA (b)		48		3,817
Orange Polska SA		2,111		3,507
Powszechna Kasa Oszczednosci Bank Polski SA (b)		3,131		21,669
Powszechny Zaklad Ubezpieczen SA		4,786		41,231
				96,959
PORTUGAL — 0.0% (c)
Banco Comercial Portugues SA (b)		69,158		3,674
QATAR — 0.1%
Barwa Real Estate Co.		627		6,886
Industries Qatar QSC		420		12,811
Ooredoo QSC		444		9,142
Qatar Gas Transport Co., Ltd.		12,875		82,539
Qatar National Bank SAQ		45		2,162
				113,540
RUSSIA — 0.3%
Magnit PJSC GDR		1,400		56,308
MegaFon PJSC GDR		1,200		13,980
Mobile TeleSystems PJSC ADR		3,555		21,970
Moscow Exchange MICEX-RTS PJSC		14,448		18,113
Rostelecom PJSC ADR		948		7,063
Sberbank of Russia PJSC ADR		11,141		65,509
VTB Bank PJSC GDR		14,581		30,751
				213,694
SINGAPORE — 0.7%
Ascendas REIT		12,000		19,286
Avago Technologies, Ltd.		624		90,574
DBS Group Holdings, Ltd.		12,171		143,188
Genting Singapore PLC		24,000		13,027
Global Logistic Properties, Ltd.		12,000		18,186
Hutchison Port Holdings Trust		55,000		29,150
Oversea-Chinese Banking Corp., Ltd.		12,478		77,402
Singapore Telecommunications, Ltd.		26,000		67,261
United Overseas Bank, Ltd.		3,000		41,469
UOL Group, Ltd.		12,240		53,838
Wilmar International, Ltd.		20,000		41,448
				594,829
SOUTH AFRICA — 0.5%
Aspen Pharmacare Holdings, Ltd. (b)		696		13,901
Barclays Africa Group, Ltd.		780		7,223
Bidvest Group, Ltd.		696		14,742
Brait SE (b)		1,162		12,519
FirstRand, Ltd.		12,337		33,733
Foschini Group, Ltd.		648		5,093
Growthpoint Properties, Ltd. REIT		13,466		20,187
Investec PLC		1,680		11,871
Liberty Holdings, Ltd.		1,283		9,537
Mediclinic International, Ltd.		785		6,028
Mr. Price Group, Ltd.		288		3,717
MTN Group, Ltd.		4,931		42,288
Naspers, Ltd. Class N		984		134,625
Nedbank Group, Ltd.		876		10,663
Redefine Properties, Ltd. REIT		16,057		10,051
RMB Holdings, Ltd.		4,787		17,179
Sanlam, Ltd.		3,923		15,327
Shoprite Holdings, Ltd.		1,044		9,652
SPAR Group, Ltd.		455		5,406
Standard Bank Group, Ltd.		4,751		34,800
Truworths International, Ltd.		1,116		6,565
Vodacom Group, Ltd.		1,704		16,760
Woolworths Holdings, Ltd.		2,219		14,342
				456,209
SOUTH KOREA — 1.4%
Amorepacific Corp.		120		42,420
Amorepacific Group		120		15,147
BNK Financial Group, Inc.		360		2,585
Celltrion, Inc. (b)		194		13,981
Coway Co., Ltd.		120		8,607
Daelim Industrial Co., Ltd.		216		12,361
Daewoo Engineering & Construction Co., Ltd. (b)		948		4,528
Daewoo Securities Co., Ltd.		591		4,773
Dongbu Insurance Co., Ltd.		120		7,195
Doosan Corp.		60		4,529
E-MART, Inc.		72		11,605
GS Engineering & Construction Corp. (b)		228		3,840
Hana Financial Group, Inc.		948		19,080
Hanwha Corp.		730		24,529
Hanwha Life Insurance Co., Ltd.		828		5,218
Hyundai Department Store Co., Ltd.		96		10,357
Hyundai Development Co-Engineering & Construction		240		7,942
Hyundai Engineering & Construction Co., Ltd.		312		7,597
Hyundai Glovis Co., Ltd.		36		5,926
Hyundai Mobis Co., Ltd.		200		42,045
Hyundai Motor Co. Preference Shares (a)		144		12,895

133

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Hyundai Motor Co. Preference Shares (a)		144	$	12,649
Hyundai Motor Co.		315		40,028
Hyundai Wia Corp.		36		3,439
Industrial Bank of Korea		828		8,721
Kakao Corp.		48		4,740
Kangwon Land, Inc.		591		19,355
KB Financial Group, Inc.		1,080		30,533
Kia Motors Corp.		888		39,835
Korea Aerospace Industries, Ltd.		120		7,993
Korea Gas Corp.		708		22,251
Korea Zinc Co., Ltd.		72		28,799
KT&G Corp.		495		44,115
LG Chem, Ltd.		75		21,012
LG Household & Health Care, Ltd.		24		21,492
Lotte Shopping Co., Ltd.		24		4,759
NAVER Corp.		72		40,404
NCSoft Corp.		48		8,719
Orion Corp.		12		11,933
Paradise Co., Ltd. (b)		240		3,613
S-1 Corp.		96		8,163
Samsung C&T Corp. (b)		182		21,730
Samsung Card Co., Ltd.		144		3,789
Samsung Electronics Co., Ltd.		264		283,689
Samsung Electronics Co., Ltd. Preference Shares		60		55,827
Samsung Fire & Marine Insurance Co., Ltd.		84		22,029
Samsung Life Insurance Co., Ltd.		180		16,886
Samsung SDI Co., Ltd.		96		9,334
Samsung Securities Co., Ltd.		168		5,982
Shinhan Financial Group Co., Ltd.		1,188		40,071
SK Holdings Co., Ltd.		48		9,845
SK Hynix, Inc.		838		21,976
SK Telecom Co., Ltd.		60		11,027
Woori Bank		1,308		9,839
				1,161,737
SPAIN — 1.1%
Abertis Infraestructuras SA		3,186		49,872
Aena SA (b) (e)		183		20,953
Amadeus IT Holding SA Class A		1,008		44,550
Banco Bilbao Vizcaya Argentaria SA		15,351		112,378
Banco de Sabadell SA		8,797		15,624
Banco Popular Espanol SA		3,926		12,978
Banco Santander SA		44,237		219,033
Bankia SA		9,966		11,627
CaixaBank SA		4,509		15,743
Enagas SA		2,926		82,641
Ferrovial SA		668		15,133
Grifols SA		168		7,780
Industria de Diseno Textil SA		2,415		83,136
Mapfre SA		10,813		27,157
Red Electrica Corp. SA		1,285		107,638
Telefonica SA		11,887		132,163
				958,406
SWEDEN — 0.9%
Alfa Laval AB		948		17,429
Assa Abloy AB Class B		1,872		39,525
Atlas Copco AB Class A		1,953		48,277
Atlas Copco AB Class B		1,059		24,532
Autoliv, Inc.		192		23,956
Boliden AB		3,398		57,597
Electrolux AB Series B		228		5,549
Getinge AB Class B		288		7,601
Hennes & Mauritz AB Class B		2,231		79,945
Hexagon AB Class B		264		9,858
Industrivarden AB Class C		420		7,229
Investment AB Kinnevik Class B		552		17,155
Investor AB Class B		1,455		53,950
Lundin Petroleum AB (b)		1,912		27,805
Nordea Bank AB		7,043		77,944
Sandvik AB		2,451		21,528
Skandinaviska Enskilda Banken AB Class A		2,339		24,803
SKF AB Class B		372		6,054
Svenska Handelsbanken AB Class A		1,449		19,405
Swedbank AB Class A		1,259		27,941
Telefonaktiebolaget LM Ericsson Class B		7,370		71,946
TeliaSonera AB		8,282		41,446
Volvo AB Class B		4,883		45,815
				757,290
SWITZERLAND — 3.4%
ABB, Ltd.		5,654		101,444
Actelion, Ltd. (b)		168		23,429
Adecco SA (b)		552		37,995
Baloise Holding AG		48		6,119
Cie Financiere Richemont SA		1,319		95,005
Credit Suisse Group AG		4,946		107,172
EMS-Chemie Holding AG		84		37,007
Geberit AG		60		20,392
Givaudan SA (b)		53		96,522
Julius Baer Group, Ltd. (b)		348		16,917
Kuehne + Nagel International AG		168		23,127
Nestle SA		7,771		578,749
Novartis AG		5,569		482,906
Roche Holding AG		1,655		456,985
Schindler Holding AG		84		14,098
Sika AG		12		43,397
Swatch Group AG		60		20,991
Swiss Life Holding AG (b)		156		42,281
Swiss Re AG		1,133		111,093
Swisscom AG		36		18,090
Syngenta AG		298		116,789
TE Connectivity, Ltd.		991		64,028
UBS Group AG		9,263		180,633
Wolseley PLC		972		52,878
Zurich Insurance Group AG		396		102,224
				2,850,271
TAIWAN — 1.2%
Advanced Semiconductor Engineering, Inc.		12,000		13,883
Asustek Computer, Inc.		3,000		24,842
Catcher Technology Co., Ltd.		2,000		16,805
Cathay Financial Holding Co., Ltd.		24,000		33,830
China Development Financial Holding Corp.		48,000		12,027
Chunghwa Telecom Co., Ltd.		12,000		36,204
CTBC Financial Holding Co., Ltd.		51,888		26,697
Delta Electronics, Inc.		4,000		18,936
E.Sun Financial Holding Co., Ltd.		13,043		7,604
Far Eastern New Century Corp.		12,240		9,595
Far EasTone Telecommunications Co., Ltd.		12,000		24,696

134

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Formosa Petrochemical Corp.		60,000	$	143,940
Formosa Plastics Corp.		12,000		28,130
Fubon Financial Holding Co., Ltd.		24,000		32,880
Hon Hai Precision Industry Co., Ltd.		25,200		61,989
Inotera Memories, Inc. (b)		12,000		10,211
Inventec Corp.		12,000		7,873
MediaTek, Inc.		12,000		91,333
Mega Financial Holding Co., Ltd.		38,922		25,180
Pou Chen Corp.		12,000		15,746
Quanta Computer, Inc.		12,000		19,363
Ruentex Development Co., Ltd.		13,609		17,753
Shin Kong Financial Holding Co., Ltd.		37,469		8,156
SinoPac Financial Holdings Co., Ltd.		25,766		7,350
Taiwan Mobile Co., Ltd.		12,000		36,533
Taiwan Semiconductor Manufacturing Co., Ltd.		60,000		261,211
Teco Electric and Machinery Co., Ltd.		12,000		9,608
Yuanta Financial Holding Co., Ltd.		61,573		22,776
				1,025,151
THAILAND — 0.2%
Advanced Info Service PCL		2,400		10,138
Airports of Thailand PCL		2,400		23,076
Bangkok Bank PCL NVDR		3,600		15,256
BTS Group Holdings PCL		22,800		5,766
CP ALL PCL		9,600		10,471
Energy Absolute PCL		54,000		33,764
Kasikornbank PCL		4,800		20,075
Krung Thai Bank PCL		10,800		5,012
Siam Commercial Bank PCL		4,800		15,940
				139,498
TURKEY — 0.1%
Akbank TAS		2,796		6,418
TAV Havalimanlari Holding A/S		720		4,487
Turkcell Iletisim Hizmetleri A/S		3,287		11,148
Turkiye Garanti Bankasi A/S		3,555		8,672
Turkiye Halk Bankasi A/S		1,431		5,094
Turkiye Is Bankasi		3,351		5,281
Turkiye Vakiflar Bankasi TAO Class D		2,796		3,669
				44,769
UNITED ARAB EMIRATES — 0.1%
Aldar Properties PJSC		5,985		3,781
DP World, Ltd.		594		12,058
Emaar Properties PJSC		6,597		10,220
Emirates Telecommunications Group Co. PJSC		4,649		20,378
First Gulf Bank PJSC		996		3,430
				49,867
UNITED KINGDOM — 6.9%
3i Group PLC		4,324		30,693
Aberdeen Asset Management PLC		2,904		12,387
Admiral Group PLC		324		7,922
Amec Foster Wheeler PLC		8,882		56,148
ARM Holdings PLC		3,579		54,808
Ashtead Group PLC		1,728		28,500
Associated British Foods PLC		720		35,466
AstraZeneca PLC		3,292		223,996
Aviva PLC		12,064		91,751
Babcock International Group PLC		1,680		25,158
BAE Systems PLC		8,426		62,046
Barclays PLC		44,124		142,360
Barratt Developments PLC		3,648		33,659
British American Tobacco PLC		5,134		285,352
British Land Co. PLC		3,378		39,134
BT Group PLC		22,214		154,440
Bunzl PLC		795		22,087
Burberry Group PLC		1,319		23,232
Capita PLC		2,183		38,868
CNH Industrial NV		2,415		16,632
Cobham PLC		3,036		12,672
Compass Group PLC		5,231		90,592
Croda International PLC		1,008		45,195
Delphi Automotive PLC		672		57,611
Diageo PLC		6,742		184,481
Direct Line Insurance Group PLC		1,308		7,856
Dixons Carphone PLC		1,596		11,762
GlaxoSmithKline PLC		12,613		255,245
Hammerson PLC		4,151		36,709
Hargreaves Lansdown PLC		396		8,790
HSBC Holdings PLC		52,503		414,934
ICAP PLC		1,479		11,107
IMI PLC		1,420		18,031
Imperial Tobacco Group PLC		2,779		146,902
Inmarsat PLC		672		11,261
Intertek Group PLC		507		20,752
Intu Properties PLC		4,992		23,346
ITV PLC		10,830		44,152
J Sainsbury PLC		1,716		6,546
Johnson Matthey PLC		1,563		61,209
Kingfisher PLC		7,610		36,958
Land Securities Group PLC		2,595		45,018
Legal & General Group PLC		16,756		66,138
Liberty Global PLC Class A (b)		876		37,107
Liberty Global PLC Series C (b)		1,044		42,564
Lloyds Banking Group PLC		150,444		162,025
London Stock Exchange Group PLC		612		24,752
Marks & Spencer Group PLC		4,670		31,139
Meggitt PLC		4,091		22,593
Melrose Industries PLC		4,314		18,497
National Grid PLC		13,250		183,086
Next PLC		294		31,589
Old Mutual PLC		12,089		31,876
Pearson PLC		2,368		25,688
Pentair PLC		728		36,058
Persimmon PLC (b)		1,319		39,406
Petrofac, Ltd.		2,640		30,973
Prudential PLC		6,854		154,663
Randgold Resources, Ltd.		626		38,226
Reckitt Benckiser Group PLC		1,800		166,636
RELX NV		1,165		19,666
RELX PLC		2,349		41,442
Rexam PLC		3,252		28,974
Rolls-Royce Holdings PLC (b)		5,450		46,188
Royal Bank of Scotland Group PLC (b)		12,245		54,505
Royal Mail PLC		1,872		12,251
RSA Insurance Group PLC		2,040		12,824
SABMiller PLC		2,576		154,509
Sage Group PLC		2,892		25,724
Schroders PLC		343		15,045
Segro PLC		3,840		24,303
Severn Trent PLC		2,832		90,870
Sky PLC		2,707		44,367

135

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Smith & Nephew PLC		2,844	$	50,637
Smiths Group PLC		1,848		25,590
Sports Direct International PLC (b)		936		7,960
Standard Chartered PLC		9,190		76,354
Standard Life PLC		4,761		27,346
Taylor Wimpey PLC		9,737		29,148
Tesco PLC (b)		18,700		41,205
Travis Perkins PLC		1,128		32,802
Unilever NV		4,291		186,942
Unilever PLC		3,555		153,340
United Utilities Group PLC		7,790		107,411
Vodafone Group PLC		72,795		237,117
Weir Group PLC		912		13,442
Whitbread PLC		624		40,477
William Hill PLC		3,305		19,290
WPP PLC		4,835		111,384
				5,809,897
UNITED STATES — 52.6%
3M Co.		1,539		231,835
Abbott Laboratories		4,127		185,344
AbbVie, Inc.		3,995		236,664
Accenture PLC Class A		1,716		179,322
ACE, Ltd.		888		103,763
Activision Blizzard, Inc.		1,188		45,987
Acuity Brands, Inc.		100		23,380
Adobe Systems, Inc. (b)		1,188		111,601
ADT Corp.		588		19,392
Advance Auto Parts, Inc.		156		23,480
Aetna, Inc.		1,188		128,447
Affiliated Managers Group, Inc. (b)		132		21,088
Aflac, Inc.		1,216		72,838
Agilent Technologies, Inc.		1,188		49,670
Akamai Technologies, Inc. (b)		384		20,210
Alexion Pharmaceuticals, Inc. (b)		455		86,791
Alkermes PLC (b)		307		24,370
Alleghany Corp. (b)		48		22,941
Allergan PLC (b)		937		292,812
Alliance Data Systems Corp. (b)		120		33,188
Allstate Corp.		1,188		73,763
Ally Financial, Inc. (b)		1,655		30,849
Alnylam Pharmaceuticals, Inc. (b)		166		15,627
Alphabet, Inc. Class C (b)		721		547,152
Alphabet, Inc. Class A (b)		684		532,159
Altria Group, Inc.		5,127		298,443
Amazon.com, Inc. (b)		948		640,744
American Capital Agency Corp.		3,118		54,066
American Express Co.		2,171		150,993
American International Group, Inc.		3,942		244,286
American Tower Corp. REIT		924		89,582
American Water Works Co., Inc.		2,736		163,476
Ameriprise Financial, Inc.		576		61,298
AmerisourceBergen Corp.		564		58,492
AMETEK, Inc.		688		36,870
Amgen, Inc.		1,884		305,830
Amphenol Corp. Class A		467		24,391
Analog Devices, Inc.		1,188		65,720
Annaly Capital Management, Inc.		4,742		44,480
Anthem, Inc.		840		117,130
Aon PLC		612		56,433
Apple, Inc.		13,724		1,444,588
Applied Materials, Inc.		3,555		66,372
Ashland, Inc.		336		34,507
Assurant, Inc.		43		3,463
AT&T, Inc.		15,440		531,290
Autodesk, Inc. (b)		472		28,759
Automatic Data Processing, Inc.		1,188		100,647
AutoZone, Inc. (b)		84		62,320
AvalonBay Communities, Inc. REIT		348		64,077
Avery Dennison Corp.		540		33,836
Avnet, Inc.		488		20,906
Axalta Coating Systems, Ltd. (b)		804		21,427
Axis Capital Holdings, Ltd.		467		26,255
B/E Aerospace, Inc.		360		15,253
Baker Hughes, Inc.		2,193		101,207
Ball Corp.		407		29,601
Bank of America Corp.		26,071		438,775
Bank of New York Mellon Corp.		3,555		146,537
Baxalta, Inc.		1,284		50,115
Baxter International, Inc.		1,431		54,593
BB&T Corp.		1,752		66,243
Becton, Dickinson and Co.		536		82,592
Berkshire Hathaway, Inc. Class B (b)		2,389		315,444
Best Buy Co., Inc.		1,088		33,130
Biogen, Inc. (b)		576		176,458
BioMarin Pharmaceutical, Inc. (b)		323		33,837
BlackRock, Inc.		408		138,932
Boeing Co.		1,672		241,754
BorgWarner, Inc.		483		20,880
Boston Properties, Inc. REIT		276		35,201
Boston Scientific Corp. (b)		3,555		65,554
Bristol-Myers Squibb Co.		4,091		281,420
Broadcom Corp. Class A		1,608		92,975
Brown-Forman Corp. Class B		519		51,526
C.R. Bard, Inc.		180		34,099
CA, Inc.		2,168		61,918
Cameron International Corp. (b)		688		43,482
Campbell Soup Co.		408		21,440
Capital One Financial Corp.		1,932		139,452
Cardinal Health, Inc.		1,088		97,126
CarMax, Inc. (b)		431		23,261
Caterpillar, Inc.		1,680		114,173
CBRE Group, Inc. Class A (b)		912		31,537
CBS Corp. Class B, NVDR		1,188		55,990
Celanese Corp. Series A		888		59,789
Celgene Corp. (b)		1,944		232,813
Centene Corp. (b)		300		19,743
CenturyLink, Inc.		1,188		29,890
Cerner Corp. (b)		744		44,766
Charles Schwab Corp.		2,955		97,308
Charter Communications, Inc. Class A (b)		132		24,169
Cheniere Energy, Inc. (b)		2,634		98,116
Chevron Corp.		600		53,976
Chicago Bridge & Iron Co. NV		420		16,376
Chipotle Mexican Grill, Inc. (b)		72		34,549
Chubb Corp.		420		55,709
Cigna Corp.		792		115,893
Cimarex Energy Co.		516		46,120
Cincinnati Financial Corp.		505		29,881
Cintas Corp.		200		18,210
Cisco Systems, Inc.		13,549		367,923
CIT Group, Inc.		498		19,771
Citigroup, Inc.		7,681		397,492

136

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Citizens Financial Group, Inc.		1,899	$	49,735
Citrix Systems, Inc. (b)		384		29,050
Clorox Co.		200		25,366
CME Group, Inc.		828		75,017
Coach, Inc.		702		22,976
Coca-Cola Co.		10,669		458,340
Coca-Cola Enterprises, Inc.		588		28,953
Cognizant Technology Solutions Corp. Class A (b)		1,563		93,811
Colgate-Palmolive Co.		2,368		157,756
Columbia Pipeline Group, Inc.		4,867		97,340
Comcast Corp. Class A		6,341		357,823
Comerica, Inc.		507		21,208
Concho Resources, Inc. (b)		406		37,701
Consolidated Edison, Inc.		888		57,072
Constellation Brands, Inc. Class A		624		88,883
Cooper Cos., Inc.		120		16,104
Core Laboratories NV		264		28,707
Corning, Inc.		3,555		64,985
Costco Wholesale Corp.		1,179		190,408
Crown Castle International Corp. REIT		756		65,356
CSRA, Inc.		384		11,520
CSX Corp.		2,128		55,222
Cummins, Inc.		588		51,750
CVS Health Corp.		3,555		347,572
D.R. Horton, Inc.		1,188		38,052
Danaher Corp.		1,728		160,497
DaVita HealthCare Partners, Inc. (b)		300		20,913
Deere & Co.		827		63,075
Discover Financial Services		1,188		63,701
Discovery Communications, Inc. Class A (b)		1,188		31,696
Discovery Communications, Inc. Class C (b)		700		17,654
DISH Network Corp. Class A (b)		495		28,304
Dollar General Corp.		660		47,434
Dollar Tree, Inc. (b)		288		22,239
Dover Corp.		636		38,993
Dow Chemical Co.		700		36,036
Dr. Pepper Snapple Group, Inc.		552		51,446
Dun & Bradstreet Corp.		200		20,786
E*TRADE Financial Corp. (b)		800		23,712
E.I. du Pont de Nemours & Co.		1,860		123,876
Eaton Corp. PLC		1,575		81,963
eBay, Inc. (b)		2,832		77,823
Ecolab, Inc.		1,563		178,776
Edwards Lifesciences Corp. (b)		456		36,015
Electronic Arts, Inc. (b)		672		46,180
Eli Lilly & Co.		2,368		199,528
EMC Corp.		5,927		152,205
Emerson Electric Co.		2,368		113,261
Endo International PLC (b)		384		23,508
Ensco PLC Class A		212		3,263
EOG Resources, Inc.		1,188		84,099
Equifax, Inc.		431		48,000
Equinix, Inc. REIT		86		26,006
Equity Residential REIT		876		71,473
Essex Property Trust, Inc. REIT		113		27,053
Estee Lauder Cos., Inc. Class A		744		65,517
Everest Re Group, Ltd.		76		13,915
Eversource Energy		1,925		98,310
Expedia, Inc.		252		31,324
Expeditors International of Washington, Inc.		1,188		53,579
Express Scripts Holding Co. (b)		1,793		156,726
Exxon Mobil Corp.		400		31,180
F5 Networks, Inc. (b)		156		15,126
Facebook, Inc. Class A (b)		5,158		539,836
Fastenal Co.		1,188		48,494
FedEx Corp.		122		18,177
Fidelity National Information Services, Inc.		1,088		65,933
Fifth Third Bancorp		2,368		47,597
Fiserv, Inc. (b)		588		53,778
FleetCor Technologies, Inc. (b)		156		22,297
Flowserve Corp.		564		23,733
Fluor Corp.		1,188		56,097
FMC Technologies, Inc. (b)		2,220		64,402
FNF Group		300		10,401
Foot Locker, Inc.		324		21,089
Ford Motor Co.		8,294		116,862
Franklin Resources, Inc.		1,188		43,742
Frontier Communications Corp.		2,368		11,059
Gap, Inc.		612		15,116
Garmin, Ltd.		324		12,043
General Dynamics Corp.		924		126,921
General Electric Co.		23,780		740,747
General Growth Properties, Inc. REIT		1,188		32,325
General Mills, Inc.		1,657		95,543
General Motors Co.		3,166		107,676
Gilead Sciences, Inc.		3,555		359,730
Goldman Sachs Group, Inc.		1,188		214,113
H&R Block, Inc.		1,188		39,572
Halliburton Co.		3,555		121,012
Hanesbrands, Inc.		864		25,428
Harley-Davidson, Inc.		540		24,511
Harman International Industries, Inc.		198		18,654
Harris Corp.		300		26,070
Hartford Financial Services Group, Inc.		1,268		55,107
Hasbro, Inc.		300		20,208
HCA Holdings, Inc. (b)		564		38,143
HCP, Inc. REIT		1,188		45,429
Helmerich & Payne, Inc.		552		29,560
Henry Schein, Inc. (b)		136		21,514
Hershey Co.		528		47,135
Hertz Global Holdings, Inc. (b)		1,188		16,905
Hewlett Packard Enterprise Co.		4,742		72,078
HollyFrontier Corp.		1,176		46,911
Hologic, Inc. (b)		502		19,422
Home Depot, Inc.		3,155		417,249
Honeywell International, Inc.		1,891		195,851
Host Hotels & Resorts, Inc. REIT		1,188		18,224
HP, Inc.		4,742		56,145
Humana, Inc.		443		79,080
Huntington Bancshares, Inc.		1,188		13,139
IHS, Inc. Class A (b)		192		22,739
Illinois Tool Works, Inc.		1,179		109,270
Illumina, Inc. (b)		324		62,190
Incyte Corp. (b)		252		27,329
Ingersoll-Rand PLC		828		45,780
Intel Corp.		12,050		415,122
Intercontinental Exchange, Inc.		276		70,728
International Business Machines Corp.		2,368		325,884

137

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
International Flavors & Fragrances, Inc.		657	$	78,603
Interpublic Group of Cos., Inc.		1,188		27,657
Intuit, Inc.		612		59,058
Intuitive Surgical, Inc. (b)		84		45,877
Invesco, Ltd.		1,188		39,774
Iron Mountain, Inc. REIT		156		4,214
J.M. Smucker Co.		431		53,160
Jacobs Engineering Group, Inc. (b)		1,188		49,837
Jazz Pharmaceuticals PLC (b)		144		20,241
Johnson & Johnson		6,807		699,215
Johnson Controls, Inc.		1,188		46,914
JPMorgan Chase & Co.		9,482		626,096
Juniper Networks, Inc.		1,188		32,789
Kansas City Southern		324		24,193
Kellogg Co.		588		42,495
Keurig Green Mountain, Inc.		312		28,074
KeyCorp		2,368		31,234
Kimberly-Clark Corp.		424		53,975
Kimco Realty Corp. REIT		1,188		31,434
Kinder Morgan, Inc.		8,906		132,878
KLA-Tencor Corp.		528		36,617
Kohl’s Corp.		396		18,861
Kraft Heinz Co.		1,860		135,334
Kroger Co.		1,468		61,406
L Brands, Inc.		552		52,893
L-3 Communications Holdings, Inc.		300		35,853
Laboratory Corp. of America Holdings (b)		200		24,728
Lam Research Corp.		483		38,360
Las Vegas Sands Corp.		1,188		52,082
Lennar Corp. Class A		507		24,797
Level 3 Communications, Inc. (b)		726		39,465
Liberty Interactive Corp. QVC Group Class A (b)		1,188		32,456
Liberty Media Corp. Class A (b)		472		18,526
Liberty Media Corp. Class C (b)		507		19,307
Lincoln National Corp.		1,188		59,709
Linear Technology Corp.		576		24,463
LinkedIn Corp. Class A (b)		240		54,019
LKQ Corp. (b)		534		15,822
Lockheed Martin Corp.		768		166,771
Loews Corp.		1,188		45,619
Lowe’s Cos., Inc.		2,368		180,063
LyondellBasell Industries NV Class A		495		43,016
M&T Bank Corp.		216		26,175
Macerich Co. REIT		200		16,138
Macy’s, Inc.		804		28,124
Mallinckrodt PLC (b)		276		20,598
ManpowerGroup, Inc.		540		45,517
Marathon Petroleum Corp.		1,291		66,925
Marsh & McLennan Cos., Inc.		853		47,299
Masco Corp.		1,188		33,620
MasterCard, Inc. Class A		2,568		250,020
Mattel, Inc.		1,188		32,278
Maxim Integrated Products, Inc.		600		22,800
McCormick & Co., Inc.		564		48,256
McDonald’s Corp.		2,460		290,624
McGraw Hill Financial, Inc.		588		57,965
McKesson Corp.		624		123,072
Mead Johnson Nutrition Co.		552		43,580
Medtronic PLC		3,909		300,680
Merck & Co., Inc.		7,107		375,392
MetLife, Inc.		3,555		171,387
MGM Resorts International (b)		1,100		24,992
Michael Kors Holdings, Ltd. (b)		519		20,791
Micron Technology, Inc. (b)		2,368		33,531
Microsoft Corp.		18,363		1,018,779
Molson Coors Brewing Co. Class B		408		38,319
Mondelez International, Inc. Class A		4,274		191,646
Monsanto Co.		1,836		180,883
Monster Beverage Corp. (b)		384		57,201
Moody’s Corp.		336		33,714
Morgan Stanley		4,342		138,119
Mosaic Co.		132		3,642
Motorola Solutions, Inc.		483		33,061
Mylan NV (b)		1,188		64,235
Nasdaq, Inc.		431		25,071
National Oilwell Varco, Inc.		1,768		59,210
Navient Corp.		1,089		12,469
NetApp, Inc.		1,188		31,518
Netflix, Inc. (b)		924		105,687
News Corp. Class A		1,224		16,353
Nielsen Holdings PLC		1,032		48,091
NIKE, Inc. Class B		3,648		228,000
Norfolk Southern Corp.		495		41,872
Northern Trust Corp.		600		43,254
Northrop Grumman Corp.		544		102,713
Nuance Communications, Inc. (b)		1,188		23,629
NVIDIA Corp.		1,368		45,089
O’Reilly Automotive, Inc. (b)		252		63,862
Oceaneering International, Inc.		588		22,062
Omnicom Group, Inc.		708		53,567
ONEOK, Inc.		2,646		65,250
Oracle Corp.		9,482		346,377
PACCAR, Inc.		1,188		56,311
Packaging Corp. of America		396		24,968
Palo Alto Networks, Inc. (b)		96		16,909
Parker-Hannifin Corp.		483		46,841
PartnerRe, Ltd.		64		8,943
Paychex, Inc.		612		32,369
PayPal Holdings, Inc. (b)		2,908		105,270
Pepco Holdings, Inc.		1,188		30,900
PepsiCo, Inc.		3,755		375,200
Perrigo Co. PLC		348		50,356
Pfizer, Inc.		15,516		500,856
PG&E Corp.		1,720		91,487
Philip Morris International, Inc.		4,359		383,200
Phillips 66		1,076		88,017
Pioneer Natural Resources Co.		824		103,313
Plains GP Holdings L.P. Class A		5,366		50,709
PNC Financial Services Group, Inc.		1,596		152,115
Polaris Industries, Inc.		132		11,345
PPG Industries, Inc.		1,224		120,956
Precision Castparts Corp.		443		102,780
Priceline Group, Inc. (b)		132		168,293
Principal Financial Group, Inc.		839		37,738
Procter & Gamble Co.		6,807		540,544
Progressive Corp.		1,188		37,778
Prologis, Inc. REIT		1,431		61,419
Prudential Financial, Inc.		1,608		130,907
Public Storage REIT		396		98,089
PulteGroup, Inc.		1,188		21,170
PVH Corp.		240		17,676

138

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Qorvo, Inc. (b)		354	$	18,019
QUALCOMM, Inc.		4,542		227,032
Quanta Services, Inc. (b)		1,188		24,057
Quest Diagnostics, Inc.		360		25,610
Ralph Lauren Corp.		204		22,742
Raymond James Financial, Inc.		324		18,782
Raytheon Co.		988		123,036
Realogy Holdings Corp. (b)		431		15,805
Realty Income Corp. REIT		455		23,492
Red Hat, Inc. (b)		336		27,824
Regeneron Pharmaceuticals, Inc. (b)		180		97,717
Regions Financial Corp.		4,742		45,523
ResMed, Inc.		300		16,107
Reynolds American, Inc.		2,466		113,806
Robert Half International, Inc.		396		18,667
Rockwell Automation, Inc.		588		60,335
Rockwell Collins, Inc.		495		45,689
Roper Technologies, Inc.		348		66,047
Ross Stores, Inc.		1,014		54,563
Royal Caribbean Cruises, Ltd.		200		20,242
salesforce.com, Inc. (b)		1,497		117,365
SanDisk Corp.		624		47,418
SBA Communications Corp. Class A (b)		180		18,913
Schlumberger, Ltd.		4,142		288,904
Seagate Technology PLC		672		24,636
Sealed Air Corp.		788		35,145
Sempra Energy		632		59,414
Sensata Technologies Holding NV (b)		519		23,905
ServiceNow, Inc. (b)		192		16,620
Sherwin-Williams Co.		367		95,273
Signet Jewelers, Ltd.		180		22,264
Simon Property Group, Inc. REIT		768		149,330
Sirius XM Holdings, Inc. (b)		197		802
Skyworks Solutions, Inc.		455		34,958
SL Green Realty Corp. REIT		180		20,336
Snap-on, Inc.		240		41,143
Spectra Energy Corp.		6,123		146,585
Splunk, Inc. (b)		331		19,466
Sprint Corp. (b)		1,307		4,731
St. Jude Medical, Inc.		1,088		67,206
Stanley Black & Decker, Inc.		636		67,880
Staples, Inc.		2,368		22,425
Starbucks Corp.		4,080		244,922
State Street Corp. (f)		1,188		78,836
Stryker Corp.		1,188		110,413
SunTrust Banks, Inc.		1,188		50,894
Symantec Corp.		2,368		49,728
Synchrony Financial (b)		1,971		59,938
Synopsys, Inc. (b)		528		24,082
Sysco Corp.		2,268		92,988
T Rowe Price Group, Inc.		768		54,904
T-Mobile US, Inc. (b)		588		23,003
Target Corp.		1,188		86,261
TD Ameritrade Holding Corp.		1,088		37,764
TEGNA, Inc.		707		18,043
Tesla Motors, Inc. (b)		204		48,962
Tesoro Corp.		237		24,973
Texas Instruments, Inc.		2,368		129,790
Textron, Inc.		1,088		45,707
Thermo Fisher Scientific, Inc.		988		140,148
Thomson Reuters Corp.		600		22,638
Tiffany & Co.		384		29,295
Time Warner Cable, Inc.		720		133,625
Time Warner, Inc.		2,368		153,139
TJX Cos., Inc.		1,860		131,893
Toll Brothers, Inc. (b)		988		32,900
Total System Services, Inc.		400		19,920
Towers Watson & Co. Class A		240		30,830
Tractor Supply Co.		300		25,650
TransDigm Group, Inc. (b)		132		30,155
Travelers Cos., Inc.		888		100,220
Trimble Navigation, Ltd. (b)		1,188		25,483
TripAdvisor, Inc. (b)		276		23,529
Twenty-First Century Fox, Inc. Class A		3,439		93,403
Twenty-First Century Fox, Inc. Class B		910		24,779
Twitter, Inc. (b)		816		18,882
Ulta Salon Cosmetics & Fragrance, Inc. (b)		100		18,500
Under Armour, Inc. Class A (b)		360		29,020
Union Pacific Corp.		2,088		163,282
United Parcel Service, Inc. Class B		1,367		131,546
United Rentals, Inc. (b)		324		23,503
United Technologies Corp.		2,477		237,965
UnitedHealth Group, Inc.		2,595		305,276
Universal Health Services, Inc. Class B		200		23,898
Unum Group		1,188		39,549
US Bancorp		4,742		202,341
Valeant Pharmaceuticals International, Inc. (b)		744		75,284
Valero Energy Corp.		1,098		77,640
Vantiv, Inc. Class A (b)		192		9,105
Varian Medical Systems, Inc. (b)		252		20,362
Ventas, Inc. REIT		648		36,567
VEREIT, Inc.		2,356		18,660
Verisk Analytics, Inc. (b)		372		28,599
Verizon Communications, Inc.		10,069		465,389
Vertex Pharmaceuticals, Inc. (b)		519		65,306
VF Corp.		876		54,531
Viacom, Inc. Class B		1,188		48,898
Visa, Inc. Class A		5,132		397,987
VMware, Inc. Class A (b)		216		12,219
Vornado Realty Trust REIT		273		27,289
Voya Financial, Inc.		1,078		39,789
Wabtec Corp.		396		28,164
Wal-Mart Stores, Inc.		4,276		262,119
Walgreens Boots Alliance, Inc.		2,368		201,647
Walt Disney Co.		4,042		424,733
Waters Corp. (b)		204		27,454
Weatherford International PLC (b)		2,710		22,737
Wells Fargo & Co.		12,041		654,549
Welltower, Inc. REIT		792		53,880
Western Digital Corp.		624		37,471
Western Union Co.		1,188		21,277
WestRock Co.		856		39,051
Whirlpool Corp.		144		21,149
Whole Foods Market, Inc.		1,188		39,798
Williams Cos., Inc.		3,151		80,981
Workday, Inc. Class A (b)		156		12,430
WW Grainger, Inc.		228		46,191
Wyndham Worldwide Corp.		240		17,436
Wynn Resorts, Ltd.		204		14,115
Xerox Corp.		3,555		37,790
Xilinx, Inc.		1,188		55,800

139

SPDR MSCI ACWI Low Carbon Target ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Xylem, Inc.		648	$	23,652
Yahoo!, Inc. (b)		2,368		78,760
Yum! Brands, Inc.		900		65,745
Zimmer Biomet Holdings, Inc.		552		56,630
Zoetis, Inc.		984		47,153
				44,528,861
TOTAL COMMON STOCKS (Cost $87,569,954)				84,348,394
RIGHTS — 0.0% (d)
BRAZIL — 0.0% (d)
Banco Bradesco SA (expiring 2/5/16) (b)		186		97
HONG KONG — 0.0% (d)
GCL-Poly Energy Holdings, Ltd. (expiring 1/20/16) (b)		4,800		25
ITALY — 0.0% (d)
UBI Banca (expiring 1/12/16) (b)		1,128		54
SINGAPORE — 0.0% (d)
Ascendas Real Estate Investment Trust (expiring 1/13/16) (b)		450		20
SOUTH KOREA — 0.0% (d)
BNK Financial Group, Inc. (expiring 1/14/16) (b)		79		90
TOTAL RIGHTS (Cost $0)				286
SHORT-TERM INVESTMENT — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (g) (h) (Cost $99,795)		99,795		99,795
TOTAL INVESTMENTS — 99.7% (Cost $87,669,749)				84,448,475
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.3%				219,461
NET ASSETS — 100.0%			$	84,667,936

(a) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(b) Non-income producing security

(c) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security’s value is determined based on Level 3 inputs (See accompanying Notes to Schedule of Investments).

(d) Amount shown represents less than 0.05% of net assets.

(e) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.0% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(f) Affiliated issuer (see accompanying Notes to Schedules of Investments).

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(h) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

REIT = Real Estate Investment Trust

140

SPDR MSCI EM 50 ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.0%
BRAZIL — 4.8%
Ambev SA ADR		14,028	$	62,565
Banco Bradesco SA ADR (a)		7,460		35,883
BRF SA ADR (a)		1,898		26,230
Itau Unibanco Holding SA ADR		9,026		58,759
				183,437
CHINA — 39.3%
Alibaba Group Holding, Ltd. ADR (b)		1,495		121,499
Baidu, Inc. ADR (b)		411		77,695
Bank of China, Ltd. Class H		236,196		105,448
China Construction Bank Corp. Class H		250,154		171,393
China Life Insurance Co., Ltd. Class H		22,584		72,996
China Merchants Bank Co., Ltd. Class H		13,500		31,877
China Mobile, Ltd.		18,355		207,230
China Overseas Land & Investment, Ltd.		12,000		42,115
China Petroleum & Chemical Corp. Class H		75,600		45,652
CNOOC, Ltd.		53,362		55,564
Industrial & Commercial Bank of China, Ltd. Class H		219,454		132,519
PetroChina Co., Ltd. Class H		62,812		41,172
Ping An Insurance Group Co. of China, Ltd. Class H		15,500		85,998
Tencent Holdings, Ltd.		15,380		302,633
				1,493,791
INDIA — 4.5%
ICICI Bank, Ltd. ADR		6,390		50,034
Infosys, Ltd. ADR (a)		5,467		91,572
Tata Motors, Ltd. ADR (a) (b)		941		27,731
				169,337
MALAYSIA — 0.8%
Public Bank Bhd		7,507		32,381
MEXICO — 4.2%
America Movil SAB de CV Class L, ADR (a)		4,740		66,644
Fomento Economico Mexicano SAB de CV ADR (a)		561		51,808
Grupo Televisa SAB ADR (a)		1,455		39,591
				158,043
NETHERLANDS — 1.0%
Steinhoff International Holdings NV		7,151		36,232
RUSSIA — 5.1%
Gazprom PAO ADR		17,607		65,014
Lukoil PJSC ADR		1,518		48,880
Magnit PJSC GDR		774		31,130
Sberbank of Russia PJSC ADR (c)		713		4,128
Sberbank of Russia PJSC ADR (c)		7,314		43,006
				192,158
SOUTH AFRICA — 8.0%
FirstRand, Ltd.		10,013		27,379
MTN Group, Ltd.		4,941		42,374
Naspers, Ltd. Class N		1,185		162,125
Sasol, Ltd.		1,647		44,578
Standard Bank Group, Ltd.		3,610		26,442
				302,898
SOUTH KOREA — 17.9%
Hyundai Mobis Co., Ltd.		203		42,676
Hyundai Motor Co.		459		58,327
KB Financial Group, Inc. ADR (b)		1,149		32,023
Kia Motors Corp.		784		35,170
NAVER Corp.		83		46,577
POSCO ADR		831		29,384
Samsung Electronics Co., Ltd. GDR		657		349,195
Shinhan Financial Group Co., Ltd. ADR (b)		1,273		42,760
SK Hynix, Inc.		1,730		45,369
				681,481
TAIWAN — 14.4%
Cathay Financial Holding Co., Ltd.		24,650		34,746
Chunghwa Telecom Co., Ltd. ADR (a)		1,099		33,003
Formosa Plastics Corp.		12,280		28,787
Hon Hai Precision Industry Co., Ltd. GDR		19,905		101,714
MediaTek, Inc.		4,000		30,444
Taiwan Semiconductor Manufacturing Co., Ltd. ADR (a)		13,941		317,158
				545,852
TOTAL COMMON STOCKS (Cost $4,538,733)				3,795,610
SHORT-TERM INVESTMENT — 12.2%
UNITED STATES — 12.2%
State Street Navigator Securities Lending Prime Portfolio (d) (e) (Cost $463,170)		463,170		463,170
TOTAL INVESTMENTS — 112.2% (Cost $5,001,903)				4,258,780
LIABILITIES IN EXCESS OF OTHER ASSETS — (12.2)%				(462,775	)
NET ASSETS — 100.0%			$	3,796,005

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Investment of cash collateral for securities loaned

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

141

SPDR MSCI EM Beyond BRIC ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.9%
CHILE — 3.2%
AES Gener SA		3,116	$	1,383
Banco de Chile		91,964		9,368
Banco Santander Chile ADR		467		8,238
Cencosud SA ADR (a)		1,152		7,119
Cia Cervecerias Unidas SA		287		3,175
Corpbanca SA		244,432		1,966
Embotelladora Andina SA Class B, Preference Shares		452		1,344
Empresa Nacional de Electricidad SA ADR		349		12,934
Empresas CMPC SA		683		1,474
Empresas COPEC SA		410		3,520
Enersis SA ADR (a)		988		12,004
Latam Airlines Group SA ADR (a) (b)		733		3,951
SACI Falabella		657		4,187
Sociedad Quimica y Minera de Chile SA ADR		206		3,916
				74,579
COLOMBIA — 1.1%
Bancolombia SA ADR (a)		193		5,163
Cementos Argos SA		1,416		4,335
Ecopetrol SA ADR		449		3,147
Grupo de Inversiones Suramericana SA Preference Shares		185		2,028
Grupo de Inversiones Suramericana SA		691		7,771
Interconexion Electrica SA ESP		1,477		3,434
				25,878
CZECH REPUBLIC — 0.7%
CEZ A/S		358		6,394
Komercni banka A/S		36		7,164
O2 Czech Republic A/S		151		1,524
				15,082
EGYPT — 0.5%
Commercial International Bank Egypt SAE GDR		2,018		8,677
Global Telecom Holding SAE GDR (b)		2,245		2,919
				11,596
GREECE — 1.1%
Alpha Bank AE (b)		2,215		5,991
Eurobank Ergasias SA (b)		2,816		3,182
FF Group (b)		60		1,128
Hellenic Telecommunications Organization SA		474		4,758
JUMBO SA (b)		114		1,201
National Bank of Greece SA (b)		5,682		2,117
OPAP SA		432		3,801
Piraeus Bank SA (b)		7,036		2,125
Public Power Corp. SA		267		1,125
Titan Cement Co. SA		55		1,052
				26,480
HUNGARY — 0.8%
MOL Hungarian Oil & Gas PLC		119		5,831
OTP Bank PLC		399		8,230
Richter Gedeon Nyrt		270		5,103
				19,164
INDONESIA — 6.8%
Adaro Energy Tbk PT		34,900		1,304
Astra International Tbk PT		34,900		15,190
Bank Central Asia Tbk PT		22,000		21,226
Bank Mandiri Persero Tbk PT		18,500		12,414
Bank Negara Indonesia Persero Tbk PT		16,000		5,792
Bank Rakyat Indonesia Persero Tbk PT		19,000		15,747
Charoen Pokphand Indonesia Tbk PT		18,000		3,395
Gudang Garam Tbk PT		500		1,995
Hanjaya Mandala Sampoerna Tbk PT		500		3,410
Indocement Tunggal Prakarsa Tbk PT		3,000		4,859
Indofood Sukses Makmur Tbk PT		12,500		4,693
Kalbe Farma Tbk PT		51,900		4,970
Lippo Karawaci Tbk PT		55,900		4,197
Matahari Department Store Tbk PT		3,100		3,958
Perusahaan Gas Negara Persero Tbk PT		26,000		5,177
Semen Indonesia Persero Tbk PT		5,500		4,548
Summarecon Agung Tbk PT		13,500		1,616
Surya Citra Media Tbk PT		14,200		3,193
Telekomunikasi Indonesia Persero Tbk PT		99,300		22,367
Tower Bersama Infrastructure Tbk PT (b)		3,601		1,535
Unilever Indonesia Tbk PT		3,500		9,394
United Tractors Tbk PT		4,500		5,533
XL Axiata Tbk PT (b)		5,500		1,456
				157,969
MALAYSIA — 8.5%
AirAsia Bhd		2,200		661
Alliance Financial Group Bhd		3,500		2,902
AMMB Holdings Bhd		3,500		3,693
Axiata Group Bhd		4,877		7,281
British American Tobacco Malaysia Bhd		300		3,918
Bumi Armada Bhd (b)		5,300		1,259
CIMB Group Holdings Bhd		8,595		9,088
Dialog Group Bhd		5,700		2,124
DiGi.Com Bhd		7,300		9,181
Felda Global Ventures Holdings Bhd		2,900		1,155
Gamuda Bhd		6,000		6,512
Genting Bhd		4,600		7,864
Genting Malaysia Bhd		7,100		7,243
Hartalega Holdings Bhd		1,100		1,522
Hong Leong Bank Bhd		1,508		4,721
IHH Healthcare Bhd		6,100		9,349
IJM Corp. Bhd		7,600		5,983
IOI Corp. Bhd		5,500		5,713
IOI Properties Group Bhd		3,148		1,650
Kuala Lumpur Kepong Bhd		1,000		5,329
Malayan Banking Bhd		7,904		15,464
Malaysia Airports Holdings Bhd		1,585		2,071
Maxis Bhd		4,300		6,810
Petronas Chemicals Group Bhd		5,100		8,636
Petronas Dagangan Bhd		500		2,895
Petronas Gas Bhd		1,300		6,873
PPB Group Bhd		1,400		5,185
Public Bank Bhd		2,860		12,337
SapuraKencana Petroleum Bhd		8,300		3,905
Sime Darby Bhd		4,728		8,534
Telekom Malaysia Bhd		3,415		5,393
Tenaga Nasional Bhd		5,400		16,753
UMW Holdings Bhd		1,400		2,566
YTL Corp. Bhd		10,800		3,949
				198,519

142

SPDR MSCI EM Beyond BRIC ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
MEXICO — 11.8%
Alfa SAB de CV Class A		5,372	$	10,606
America Movil SAB de CV Series L		55,241		38,765
Arca Continental SAB de CV		700		4,243
Cemex SAB de CV (b)		21,361		11,663
Coca-Cola Femsa SAB de CV Series L		995		7,138
El Puerto de Liverpool SAB de CV Series C1		300		3,650
Fibra Uno Administracion SA de CV		3,106		6,832
Fomento Economico Mexicano SAB de CV		3,182		29,778
Gentera SAB de CV		1,839		3,551
Gruma SAB de CV Class B		300		4,199
Grupo Aeroportuario del Pacifico SAB de CV Class B		500		4,402
Grupo Aeroportuario del Sureste SAB de CV Class B		697		9,843
Grupo Bimbo SAB de CV Series A (b)		3,683		9,799
Grupo Carso SAB de CV Series A1		1,393		5,725
Grupo Financiero Banorte SAB de CV Series O		4,578		25,179
Grupo Financiero Inbursa SAB de CV Series O		4,977		8,962
Grupo Financiero Santander Mexico SAB de CV Class B		3,982		6,974
Grupo Lala SAB de CV		584		1,355
Grupo Mexico SAB de CV Series B		4,464		9,509
Grupo Televisa SAB Series CPO		4,774		26,077
Industrias Penoles SAB de CV		304		3,119
Kimberly-Clark de Mexico SAB de CV Class A		3,683		8,609
Mexichem SAB de CV		2,488		5,546
OHL Mexico SAB de CV (b)		1,266		1,322
Promotora y Operadora de Infraestructura SAB de CV (b)		549		6,444
Telesites SAB de CV (b)		262		170
Wal-Mart de Mexico SAB de CV		8,391		21,129
				274,589
NETHERLANDS — 0.6%
Steinhoff International Holdings NV		2,772		14,045
PERU — 0.9%
Cia de Minas Buenaventura SAA ADR		161		689
Credicorp, Ltd. (a)		132		12,846
Southern Copper Corp.		298		7,784
				21,319
PHILIPPINES — 3.8%
Aboitiz Equity Ventures, Inc.		5,790		7,131
Ayala Corp.		520		8,354
Ayala Land, Inc.		15,000		10,982
BDO Unibank, Inc.		3,400		7,587
Energy Development Corp.		11,600		1,528
Globe Telecom, Inc.		105		4,133
GT Capital Holdings, Inc.		170		4,769
International Container Terminal Services, Inc.		1,790		2,674
JG Summit Holdings, Inc.		3,760		5,857
Jollibee Foods Corp.		1,570		7,307
Philippine Long Distance Telephone Co.		115		5,034
SM Investments Corp.		400		7,345
SM Prime Holdings, Inc.		14,500		6,687
Universal Robina Corp.		1,980		7,827
				87,215
POLAND — 3.3%
Alior Bank SA (b)		91		1,532
Bank Pekao SA		281		10,211
Bank Zachodni WBK SA (b)		41		2,949
Cyfrowy Polsat SA (b)		346		1,829
Eurocash SA		111		1,363
Grupa Azoty SA (b)		80		2,016
KGHM Polska Miedz SA		314		5,048
LPP SA		1		1,407
mBank SA (b)		39		3,101
Orange Polska SA		1,857		3,085
PGE Polska Grupa Energetyczna SA		1,662		5,383
Polski Koncern Naftowy Orlen SA		658		11,306
Polskie Gornictwo Naftowe i Gazownictwo SA		4,454		5,797
Powszechna Kasa Oszczednosci Bank Polski SA (b)		1,773		12,271
Powszechny Zaklad Ubezpieczen SA		874		7,529
Tauron Polska Energia SA		3,880		2,830
				77,657
QATAR — 2.7%
Barwa Real Estate Co.		117		1,285
Commercial Bank QSC		157		1,979
Doha Bank QSC		115		1,405
Ezdan Holding Group QSC		1,397		6,098
Industries Qatar QSC		267		8,144
Masraf Al Rayan QSC		684		7,061
Ooredoo QSC		122		2,512
Qatar Electricity & Water Co. QSC		96		5,704
Qatar Gas Transport Co., Ltd.		302		1,936
Qatar Insurance Co. SAQ		214		4,818
Qatar Islamic Bank SAQ		180		5,273
Qatar National Bank SAQ		265		12,732
Vodafone Qatar QSC		974		3,396
				62,343
ROMANIA — 0.1%
New Europe Property Investments PLC		151		1,733
SOUTH AFRICA — 12.7%
Anglo American Platinum, Ltd. (a) (b)		75		897
AngloGold Ashanti, Ltd. (b)		671		4,601
Aspen Pharmacare Holdings, Ltd. (b)		498		9,946
Barclays Africa Group, Ltd.		577		5,343
Bidvest Group, Ltd.		565		11,967
Brait SE (a) (b)		409		4,406
Capitec Bank Holdings, Ltd.		35		1,217
Discovery, Ltd.		520		4,462
Exxaro Resources, Ltd. (a)		233		662
FirstRand, Ltd.		2,946		8,055
Fortress Income Fund, Ltd.		1,364		3,066
Foschini Group, Ltd.		490		3,851
Gold Fields, Ltd.		1,371		3,734
Growthpoint Properties, Ltd.		3,645		5,464
Hyprop Investments, Ltd.		250		1,667
Impala Platinum Holdings, Ltd. (a) (b)		962		1,555
Imperial Holdings, Ltd.		349		2,688
Investec, Ltd.		250		1,767
Life Healthcare Group Holdings, Ltd.		2,303		5,212
Mediclinic International, Ltd.		672		5,161
MMI Holdings, Ltd.		2,293		3,256
Mondi, Ltd.		161		3,193

143

SPDR MSCI EM Beyond BRIC ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Mr. Price Group, Ltd.		266	$	3,433
MTN Group, Ltd.		2,258		19,365
Naspers, Ltd. Class N		527		72,101
Nedbank Group, Ltd.		365		4,443
Netcare, Ltd.		571		1,249
Pioneer Foods Group, Ltd.		123		1,262
PSG Group, Ltd.		78		1,125
Redefine Properties, Ltd.		6,786		4,248
Remgro, Ltd.		819		12,960
RMB Holdings, Ltd.		1,611		5,782
Sanlam, Ltd.		2,269		8,865
Sappi, Ltd. (b)		489		2,060
Sasol, Ltd.		713		19,298
Shoprite Holdings, Ltd.		752		6,952
SPAR Group, Ltd.		360		4,277
Standard Bank Group, Ltd.		1,556		11,397
Telkom SA SOC, Ltd.		323		1,341
Tiger Brands, Ltd. (a)		232		4,738
Truworths International, Ltd.		593		3,488
Vodacom Group, Ltd.		668		6,570
Woolworths Holdings, Ltd.		1,469		9,494
				296,618
SOUTH KOREA — 15.0%
Amorepacific Corp.		30		10,605
Amorepacific Group		30		3,787
Celltrion, Inc. (b)		36		2,594
Cheil Worldwide, Inc. (b)		110		1,942
CJ CheilJedang Corp.		6		1,932
CJ Corp.		11		2,355
Coway Co., Ltd.		40		2,869
Daewoo Securities Co., Ltd.		50		404
E-MART, Inc.		27		4,352
GS Engineering & Construction Corp. (b)		50		842
Hana Financial Group, Inc.		140		2,818
Hankook Tire Co., Ltd.		99		3,973
Hanmi Pharm Co., Ltd. (b)		4		2,483
Hanmi Science Co., Ltd. (b)		10		1,100
Hanssem Co., Ltd.		10		1,974
Hotel Shilla Co., Ltd.		30		1,978
Hyosung Corp.		26		2,605
Hyundai Development Co-Engineering & Construction		50		1,655
Hyundai Engineering & Construction Co., Ltd.		91		2,216
Hyundai Glovis Co., Ltd.		15		2,469
Hyundai Heavy Industries Co., Ltd. (b)		43		3,220
Hyundai Mobis Co., Ltd.		49		10,301
Hyundai Motor Co. Preference Shares		38		3,338
Hyundai Motor Co.		110		13,978
Hyundai Steel Co.		83		3,536
Hyundai Wia Corp.		10		955
Industrial Bank of Korea		210		2,212
Kakao Corp.		23		2,271
KB Financial Group, Inc. ADR (b)		297		8,277
KEPCO Plant Service & Engineering Co., Ltd.		20		1,518
Kia Motors Corp.		192		8,613
Korea Aerospace Industries, Ltd.		30		1,998
Korea Electric Power Corp. ADR (a) (b)		386		8,172
KT&G Corp.		90		8,021
LG Chem, Ltd.		40		11,206
LG Corp.		73		4,408
LG Display Co., Ltd. ADR (b)		373		3,894
LG Electronics, Inc.		92		4,221
LG Household & Health Care, Ltd.		8		7,164
LG Innotek Co., Ltd.		20		1,680
Lotte Chemical Corp.		12		2,492
Lotte Shopping Co., Ltd.		11		2,181
NAVER Corp.		21		11,785
NCSoft Corp.		7		1,272
Orion Corp.		2		1,989
POSCO ADR (a)		223		7,885
S-1 Corp.		14		1,190
S-Oil Corp.		54		3,657
Samsung C&T Corp. (b)		36		4,298
Samsung Electro-Mechanics Co., Ltd.		44		2,360
Samsung Electronics Co., Ltd. GDR (c)		140		74,410
Samsung Electronics Co., Ltd. GDR (c)		28		12,936
Samsung Fire & Marine Insurance Co., Ltd.		23		6,032
Samsung Heavy Industries Co., Ltd.		210		1,943
Samsung Life Insurance Co., Ltd.		61		5,723
Samsung SDI Co., Ltd.		44		4,278
Samsung SDS Co., Ltd.		20		4,332
Samsung Securities Co., Ltd.		44		1,567
Shinhan Financial Group Co., Ltd. ADR (b)		296		9,943
SK Holdings Co., Ltd.		28		5,743
SK Hynix, Inc.		410		10,752
SK Innovation Co., Ltd. (b)		51		5,654
Woori Bank		403		3,031
				349,389
TAIWAN — 15.4%
Advanced Semiconductor Engineering, Inc. ADR		1,381		7,830
Asia Cement Corp.		5,120		4,271
Asustek Computer, Inc.		1,000		8,281
AU Optronics Corp. ADR		902		2,625
Catcher Technology Co., Ltd.		1,000		8,403
Cathay Financial Holding Co., Ltd.		6,450		9,092
Chang Hwa Commercial Bank, Ltd.		8,731		4,173
Cheng Shin Rubber Industry Co., Ltd.		2,000		3,245
China Development Financial Holding Corp.		12,000		3,007
China Steel Corp.		13,260		7,246
Chunghwa Telecom Co., Ltd. ADR		189		5,676
Compal Electronics, Inc.		7,000		3,942
CTBC Financial Holding Co., Ltd.		17,934		9,227
Delta Electronics, Inc.		2,105		9,965
E.Sun Financial Holding Co., Ltd.		10,915		6,363
Far Eastern New Century Corp.		7,282		5,709
Far EasTone Telecommunications Co., Ltd.		2,000		4,116
First Financial Holding Co., Ltd.		5,781		2,693
Formosa Chemicals & Fibre Corp.		3,000		6,759
Formosa Plastics Corp.		4,000		9,377
Foxconn Technology Co., Ltd.		1,000		2,119
Fubon Financial Holding Co., Ltd.		7,000		9,590
Hon Hai Precision Industry Co., Ltd. GDR		5,914		30,221
HTC Corp.		1,000		2,375
Hua Nan Financial Holdings Co., Ltd.		10,938		5,078
Innolux Corp.		7,000		2,118
Inotera Memories, Inc. (b)		4,000		3,404
Inventec Corp.		2,000		1,312
Lite-On Technology Corp.		4,040		3,917
MediaTek, Inc.		1,000		7,611
Mega Financial Holding Co., Ltd.		12,974		8,393
Nan Ya Plastics Corp.		5,000		9,285

144

SPDR MSCI EM Beyond BRIC ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Pegatron Corp.		1,000	$	2,192
Pou Chen Corp.		4,000		5,249
Quanta Computer, Inc.		4,000		6,454
Siliconware Precision Industries Co., Ltd. ADR (a)		499		3,867
SinoPac Financial Holdings Co., Ltd.		18,345		5,233
Taishin Financial Holding Co., Ltd.		15,886		5,513
Taiwan Cement Corp.		5,000		4,156
Taiwan Cooperative Financial Holding Co., Ltd.		6,098		2,553
Taiwan Mobile Co., Ltd.		2,000		6,089
Taiwan Semiconductor Manufacturing Co., Ltd. ADR (a)		4,043		91,978
Uni-President Enterprises Corp.		4,534		7,578
United Microelectronics Corp.		18,000		6,631
Yuanta Financial Holding Co., Ltd.		7,568		2,799
				357,715
THAILAND — 5.1%
Advanced Info Service PCL		2,200		9,293
Airports of Thailand PCL		1,000		9,615
Bangkok Bank PCL NVDR		523		2,216
BEC World PCL		3,300		2,797
Bumrungrad Hospital PCL		608		3,565
Central Pattana PCL		3,900		5,094
Charoen Pokphand Foods PCL		7,200		3,662
CP ALL PCL		9,600		10,471
Delta Electronics Thailand PCL		900		1,913
Energy Absolute PCL		2,900		1,813
IRPC PCL		18,400		2,199
Kasikornbank PCL		3,100		12,879
Krung Thai Bank PCL		11,100		5,151
Minor International PCL		4,378		4,410
PTT Exploration & Production PCL		2,900		4,614
PTT Global Chemical PCL		3,800		5,280
PTT PCL		1,700		11,527
Siam Cement PCL		747		9,549
Siam Commercial Bank PCL		3,066		10,182
True Corp. PCL (b)		16,310		3,037
				119,267
TURKEY — 3.5%
Akbank TAS		3,401		7,807
Anadolu Efes Biracilik Ve Malt Sanayii A/S		485		3,139
BIM Birlesik Magazalar A/S		395		6,949
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		4,040		3,599
Eregli Demir ve Celik Fabrikalari TAS		3,015		3,140
Haci Omer Sabanci Holding A/S		2,002		5,679
KOC Holding A/S		1,639		6,137
TAV Havalimanlari Holding A/S		160		997
Tofas Turk Otomobil Fabrikasi A/S		428		2,779
Tupras Turkiye Petrol Rafinerileri A/S (b)		274		6,534
Turk Hava Yollari AO (b)		1,693		4,286
Turkcell Iletisim Hizmetleri A/S		1,728		5,861
Turkiye Garanti Bankasi A/S		4,534		11,060
Turkiye Halk Bankasi A/S		887		3,157
Turkiye Is Bankasi		4,152		6,543
Turkiye Vakiflar Bankasi TAO Class D		2,626		3,446
Ulker Biskuvi Sanayi A/S		226		1,363
				82,476
UNITED ARAB EMIRATES — 2.3%
Abu Dhabi Commercial Bank PJSC		4,499		8,072
Aldar Properties PJSC		5,839		3,688
Arabtec Holding PJSC (b)		3,161		1,076
DP World, Ltd.		239		4,852
Dubai Financial Market PJSC		4,897		1,640
Dubai Islamic Bank PJSC		822		1,383
Emaar Malls Group PJSC (b)		6,226		4,678
Emaar Properties PJSC		5,580		8,644
Emirates Telecommunications Group Co. PJSC		2,778		12,177
First Gulf Bank PJSC		1,190		4,099
National Bank of Abu Dhabi PJSC		1,346		2,917
				53,226
TOTAL COMMON STOCKS (Cost $3,005,309)				2,326,859
SHORT-TERM INVESTMENTS — 3.7%
UNITED STATES — 3.7%
State Street Navigator Securities Lending Prime Portfolio (d) (e)		82,192		82,192
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f)		4,399		4,399
TOTAL SHORT-TERM INVESTMENTS (Cost $86,591)				86,591
TOTAL INVESTMENTS — 103.6% (Cost $3,091,900)				2,413,450
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.6)%				(84,755	)
NET ASSETS — 100.0%			$	2,328,695

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Investment of cash collateral for securities loaned

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

145

SPDR MSCI EAFE Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 5.9%
AGL Energy, Ltd.		1,199	$	15,772
Amcor, Ltd.		697		6,816
AMP, Ltd.		535		2,269
ASX, Ltd.		141		4,356
Australia & New Zealand Banking Group, Ltd.		477		9,693
BHP Billiton PLC		655		7,337
BHP Billiton, Ltd.		576		7,485
Brambles, Ltd.		956		8,047
Cochlear, Ltd.		46		3,199
Commonwealth Bank of Australia		371		23,086
CSL, Ltd.		380		29,115
Flight Centre Travel Group, Ltd.		53		1,538
GPT Group REIT		2,096		7,289
Healthscope, Ltd.		3,702		7,164
LendLease Group		274		2,843
Macquarie Group, Ltd.		47		2,830
Medibank Pvt, Ltd.		7,349		11,496
National Australia Bank, Ltd.		380		8,349
Origin Energy, Ltd.		289		988
QBE Insurance Group, Ltd.		241		2,208
Ramsay Health Care, Ltd.		63		3,114
REA Group, Ltd.		61		2,445
Scentre Group REIT		3,012		9,182
SEEK, Ltd.		169		1,891
Sonic Healthcare, Ltd.		1,047		13,612
South32, Ltd. (a)		1,736		1,345
Stockland REIT		1,659		4,949
Suncorp Group, Ltd.		209		1,846
Telstra Corp., Ltd.		7,693		31,399
Transurban Group Stapled Security		1,725		13,140
Transurban Group (a)		96		731
Vicinity Centres REIT		5,035		10,257
Wesfarmers, Ltd.		541		16,378
Westfield Corp.		949		6,566
Westpac Banking Corp.		515		12,575
Woodside Petroleum, Ltd.		433		9,048
Woolworths, Ltd.		1,216		21,675
				322,033
AUSTRIA — 0.1%
Erste Group Bank AG (a)		80		2,512
OMV AG		61		1,732
voestalpine AG		54		1,663
				5,907
BELGIUM — 1.5%
Ageas		60		2,790
Anheuser-Busch InBev SA		370		45,981
Colruyt SA		202		10,411
Delhaize Group		14		1,366
KBC Groep NV		44		2,756
Proximus SADP		340		11,080
Solvay SA		20		2,139
UCB SA		71		6,419
Umicore SA		52		2,184
				85,126
DENMARK — 2.8%
AP Moeller — Maersk A/S Class A		1		1,292
AP Moeller — Maersk A/S Class B		2		2,613
Carlsberg A/S Class B		24		2,140
Coloplast A/S Class B		159		12,892
Danske Bank A/S		104		2,804
DSV A/S		102		4,034
Novo Nordisk A/S Class B		1,570		91,392
Novozymes A/S Class B		156		7,507
Pandora A/S		75		9,520
TDC A/S		693		3,469
Tryg A/S		370		7,400
William Demant Holding A/S (a)		70		6,694
				151,757
FINLAND — 0.8%
Elisa Oyj		80		3,023
Fortum Oyj		320		4,839
Kone Oyj Class B		210		8,936
Metso Oyj		62		1,394
Nokia Oyj		338		2,422
Nokian Renkaat Oyj		82		2,948
Orion Oyj Class B		79		2,744
Sampo Oyj Class A		214		10,926
UPM-Kymmene Oyj		144		2,695
Wartsila Oyj Abp		80		3,663
				43,590
FRANCE — 6.5%
Aeroports de Paris		92		10,714
Air Liquide SA		213		23,983
Airbus Group SE		348		23,438
AXA SA		521		14,279
BNP Paribas SA		318		18,042
Bouygues SA		55		2,183
Bureau Veritas SA		149		2,977
Cap Gemini SA		36		3,348
Carrefour SA		118		3,416
Casino Guichard Perrachon SA		36		1,659
Christian Dior SE		12		2,043
Cie de Saint-Gobain		103		4,459
Cie Generale des Etablissements Michelin		99		9,453
Credit Agricole SA		261		3,085
Danone SA		119		8,051
Dassault Systemes		169		13,543
Engie SA		319		5,657
Essilor International SA		122		15,247
Eutelsat Communications SA		142		4,257
Hermes International		15		5,080
Iliad SA		14		3,346
Kering		11		1,887
L’Oreal SA		169		28,511
Legrand SA		130		7,372
LVMH Moet Hennessy Louis Vuitton SE		125		19,676
Natixis SA		373		2,114
Orange SA		321		5,400
Pernod Ricard SA		21		2,400
Publicis Groupe SA		96		6,401
Renault SA		51		5,132
Safran SA		39		2,685
Sanofi		178		15,198
Schneider Electric SE		55		3,140
SCOR SE		298		11,171
Societe BIC SA		19		3,130
Societe Generale SA		233		10,775
Sodexo SA		73		7,148

146

SPDR MSCI EAFE Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
TOTAL SA		475	$	21,292
Unibail-Rodamco SE		9		2,292
Valeo SA		41		6,349
Veolia Environnement SA		91		2,161
Vinci SA		79		5,075
Vivendi SA		302		6,515
				354,084
GERMANY — 6.9%
adidas AG		25		2,442
Allianz SE		87		15,457
BASF SE		492		37,797
Bayer AG		49		6,164
Bayerische Motoren Werke AG		51		5,409
Bayerische Motoren Werke AG Preference Shares		26		2,186
Beiersdorf AG		146		13,348
Commerzbank AG (a)		296		3,078
Continental AG		58		14,148
Daimler AG		189		15,928
Deutsche Bank AG		479		11,721
Deutsche Boerse AG		78		6,896
Deutsche Post AG		548		15,451
Deutsche Telekom AG		463		8,394
E.ON SE		1,098		10,653
Fresenius Medical Care AG & Co. KGaA		163		13,763
Fresenius SE & Co. KGaA		169		12,111
Fuchs Petrolub SE Preference Shares		54		2,552
GEA Group AG		45		1,828
Hannover Rueck SE		35		4,017
HeidelbergCement AG		30		2,464
Henkel AG & Co. KGaA		110		10,589
Henkel AG & Co. KGaA Preference Shares		97		10,874
HUGO BOSS AG		64		5,325
Infineon Technologies AG		68		998
Kabel Deutschland Holding AG		60		7,440
Lanxess AG		36		1,669
Linde AG		26		3,782
MAN SE		115		11,580
Merck KGaA		64		6,227
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		75		15,036
Porsche Automobil Holding SE Preference Shares		121		6,573
ProSiebenSat.1 Media SE		80		4,064
RWE AG		477		6,068
SAP SE		456		36,349
Siemens AG		102		9,959
ThyssenKrupp AG		83		1,654
TUI AG		496		8,853
United Internet AG		62		3,429
Volkswagen AG		24		3,710
Volkswagen AG Preference Shares		110		15,982
				375,968
HONG KONG — 5.0%
AIA Group, Ltd.		1,200		7,215
Bank of East Asia, Ltd.		1,825		6,794
BOC Hong Kong Holdings, Ltd.		1,500		4,587
Cheung Kong Infrastructure Holdings, Ltd.		2,000		18,529
Cheung Kong Property Holdings, Ltd.		2,000		13,006
CK Hutchison Holdings, Ltd.		1,500		20,245
CLP Holdings, Ltd.		3,000		25,490
Galaxy Entertainment Group, Ltd.		2,000		6,309
Hang Seng Bank, Ltd.		1,700		32,354
HK Electric Investments & HK Electric Investments, Ltd. (b)		6,470		5,426
HKT Trust & HKT, Ltd.		7,540		9,631
Hong Kong & China Gas Co., Ltd.		5,840		11,454
Hong Kong Exchanges and Clearing, Ltd.		604		15,470
Li & Fung, Ltd.		4,000		2,720
Link REIT		1,000		5,987
MTR Corp., Ltd.		4,532		22,455
New World Development Co., Ltd.		2,108		2,083
Noble Group, Ltd.		10,000		2,820
PCCW, Ltd.		9,000		5,284
Power Assets Holdings, Ltd.		2,000		18,400
Sands China, Ltd.		1,600		5,481
Sun Hung Kai Properties, Ltd.		1,000		12,077
Swire Pacific, Ltd. Class A		500		5,626
Techtronic Industries Co., Ltd.		1,000		4,077
Wharf Holdings, Ltd.		1,000		5,548
Yue Yuen Industrial Holdings, Ltd.		2,000		6,800
				275,868
IRELAND — 1.3%
CRH PLC		99		2,871
Experian PLC		543		9,612
Kerry Group PLC Class A		268		22,216
Ryanair Holdings PLC ADR		100		8,646
Shire PLC		376		26,036
				69,381
ISRAEL — 0.9%
Bank Hapoalim BM		2,760		14,257
Bank Leumi Le-Israel BM (a)		2,385		8,275
Bezeq The Israeli Telecommunication Corp., Ltd.		3,417		7,526
Check Point Software Technologies, Ltd. (a)		34		2,767
Israel Chemicals, Ltd.		277		1,125
Mizrahi Tefahot Bank, Ltd.		411		4,912
Teva Pharmaceutical Industries, Ltd.		194		12,689
				51,551
ITALY — 1.0%
Assicurazioni Generali SpA		258		4,742
Banca Monte dei Paschi di Siena SpA (a)		860		1,151
Banco Popolare SC (a)		147		2,046
Enel SpA		1,946		8,227
Eni SpA		764		11,453
EXOR SpA		72		3,292
Intesa Sanpaolo SpA		1,993		6,686
Luxottica Group SpA		73		4,790
Snam SpA		454		2,382
Telecom Italia SpA		4,214		4,353
UniCredit SpA		812		4,529
Unione di Banche Italiane SpA		311		2,095
				55,746
JAPAN — 20.9%
ABC-Mart, Inc.		100		5,528
Aeon Co., Ltd.		200		3,106
Aisin Seiki Co., Ltd.		100		4,356
ANA Holdings, Inc.		4,000		11,638
Aozora Bank, Ltd.		3,000		10,549
Asahi Group Holdings, Ltd.		100		3,158

147

SPDR MSCI EAFE Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Asahi Kasei Corp.		1,000	$	6,841
Asics Corp.		100		2,098
Astellas Pharma, Inc.		800		11,515
Bank of Yokohama, Ltd.		1,000		6,202
Benesse Holdings, Inc.		200		5,802
Bridgestone Corp.		300		10,409
Brother Industries, Ltd.		200		2,331
Calbee, Inc.		100		4,273
Canon, Inc.		900		27,495
Chubu Electric Power Co., Inc.		200		2,764
Dai-ichi Life Insurance Co., Ltd.		300		5,075
Daihatsu Motor Co., Ltd.		200		2,728
Daiichi Sankyo Co., Ltd.		300		6,261
Daito Trust Construction Co., Ltd.		100		11,646
Daiwa House Industry Co., Ltd.		100		2,912
Denso Corp.		100		4,836
East Japan Railway Co.		200		19,037
Eisai Co., Ltd.		100		6,703
Electric Power Development Co., Ltd.		100		3,595
FamilyMart Co., Ltd.		200		9,377
FANUC Corp.		100		17,524
Fuji Heavy Industries, Ltd.		300		12,537
FUJIFILM Holdings Corp.		100		4,223
Fujitsu, Ltd.		1,000		5,045
Hino Motors, Ltd.		200		2,343
Hitachi, Ltd.		1,000		5,748
Honda Motor Co., Ltd.		400		13,001
Hoya Corp.		200		8,281
Idemitsu Kosan Co., Ltd.		100		1,611
Inpex Corp.		200		1,971
Isuzu Motors, Ltd.		400		4,369
ITOCHU Corp.		700		8,391
Iyo Bank, Ltd.		300		2,953
Japan Airlines Co., Ltd.		400		14,484
Japan Exchange Group, Inc.		300		4,763
Japan Prime Realty Investment Corp.		3		10,300
Japan Real Estate Investment Corp.		3		14,639
Japan Retail Fund Investment Corp.		5		9,651
Japan Tobacco, Inc.		600		22,300
JFE Holdings, Inc.		200		3,192
JX Holdings, Inc.		1,400		5,917
Kakaku.com, Inc.		100		1,990
Kansai Electric Power Co., Inc. (a)		100		1,213
Kao Corp.		400		20,799
KDDI Corp.		1,100		28,841
Kirin Holdings Co., Ltd.		400		5,478
Kobe Steel, Ltd.		2,000		2,211
Koito Manufacturing Co., Ltd.		100		4,165
Komatsu, Ltd.		200		3,312
Kyocera Corp.		100		4,700
Lawson, Inc.		200		16,376
M3, Inc.		100		2,097
Marubeni Corp.		1,600		8,314
Mazda Motor Corp.		100		2,098
McDonald’s Holdings Co., Japan, Ltd. (a)		200		4,356
Miraca Holdings, Inc.		100		4,447
Mitsubishi Chemical Holdings Corp.		400		2,575
Mitsubishi Corp.		600		10,115
Mitsubishi Heavy Industries, Ltd.		1,000		4,433
Mitsubishi Motors Corp.		300		2,569
Mitsubishi Tanabe Pharma Corp.		700		12,197
Mitsubishi UFJ Financial Group, Inc.		3,400		21,399
Mitsui & Co., Ltd.		600		7,210
Mizuho Financial Group, Inc.		16,900		34,209
MS&AD Insurance Group Holdings, Inc.		100		2,968
Murata Manufacturing Co., Ltd.		100		14,606
Nabtesco Corp.		100		2,060
Nagoya Railroad Co., Ltd.		1,000		4,198
NEC Corp.		1,000		3,200
Nippon Building Fund, Inc.		2		9,593
Nippon Paint Holdings Co., Ltd.		100		2,459
Nippon Prologis REIT, Inc.		4		7,266
Nippon Steel & Sumitomo Metal Corp.		200		4,017
Nippon Telegraph & Telephone Corp.		800		32,161
Nippon Yusen KK		1,000		2,452
Nissan Motor Co., Ltd.		700		7,445
Nissin Foods Holdings Co., Ltd.		200		10,690
Nitori Holdings Co., Ltd.		200		17,008
Nomura Holdings, Inc.		600		3,387
Nomura Real Estate Master Fund, Inc. (a)		11		13,661
Nomura Research Institute, Ltd.		100		3,882
NTT DOCOMO, Inc.		1,300		26,844
Oracle Corp. Japan		100		4,697
Oriental Land Co., Ltd.		200		12,198
ORIX Corp.		200		2,852
Osaka Gas Co., Ltd.		2,000		7,289
Otsuka Corp.		100		4,955
Otsuka Holdings Co., Ltd.		800		28,709
Panasonic Corp.		400		4,125
Park24 Co., Ltd.		300		7,305
Recruit Holdings Co., Ltd.		100		2,959
Resona Holdings, Inc.		1,300		6,389
Ricoh Co., Ltd.		200		2,080
Sankyo Co., Ltd.		200		7,523
Santen Pharmaceutical Co., Ltd.		300		5,003
Secom Co., Ltd.		200		13,700
Sega Sammy Holdings, Inc.		200		1,887
Sekisui House, Ltd.		200		3,403
Seven & i Holdings Co., Ltd.		100		4,614
Seven Bank, Ltd.		700		3,102
Shimamura Co., Ltd.		100		11,854
Shin-Etsu Chemical Co., Ltd.		100		5,501
Shionogi & Co., Ltd.		200		9,149
SoftBank Group Corp.		100		5,103
Sompo Japan Nipponkoa Holdings, Inc.		100		3,334
Sony Corp.		200		4,991
Sumitomo Corp.		500		5,156
Sumitomo Electric Industries, Ltd.		200		2,866
Sumitomo Mitsui Financial Group, Inc.		400		15,316
Sumitomo Mitsui Trust Holdings, Inc.		1,000		3,832
Suntory Beverage & Food, Ltd.		300		13,267
Suzuken Co., Ltd.		100		3,845
Suzuki Motor Corp.		100		3,078
Sysmex Corp.		100		6,509
T&D Holdings, Inc.		200		2,675
Taiheiyo Cement Corp.		1,000		2,943
Taisho Pharmaceutical Holdings Co., Ltd.		100		7,133
Takeda Pharmaceutical Co., Ltd.		600		30,251
Tobu Railway Co., Ltd.		1,000		4,971
Tohoku Electric Power Co., Inc.		200		2,527
Tokio Marine Holdings, Inc.		100		3,917
Tokyo Electric Power Co., Inc. (a)		700		4,068
Tokyo Gas Co., Ltd.		3,000		14,235
TonenGeneral Sekiyu KK		1,000		8,496

148

SPDR MSCI EAFE Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Toshiba Corp. (a)		2,000	$	4,155
Toyo Suisan Kaisha, Ltd.		200		7,033
Toyota Industries Corp.		100		5,428
Toyota Motor Corp.		500		31,124
Toyota Tsusho Corp.		100		2,368
Trend Micro, Inc. (a)		100		4,098
Unicharm Corp.		300		6,177
United Urban Investment Corp.		7		9,543
USS Co., Ltd.		400		6,085
West Japan Railway Co.		200		13,956
Yahoo Japan Corp.		800		3,285
Yamada Denki Co., Ltd.		1,200		5,217
Yamato Holdings Co., Ltd.		400		8,566
				1,141,321
LUXEMBOURG — 0.4%
ArcelorMittal		776		3,285
RTL Group SA		26		2,176
SES SA		585		16,253
Tenaris SA		84		998
				22,712
MEXICO — 0.1%
Fresnillo PLC		415		4,331
NETHERLANDS — 2.5%
Aegon NV		568		3,227
Akzo Nobel NV		34		2,278
ASML Holding NV		171		15,334
Boskalis Westminster		49		2,003
Heineken NV		36		3,080
ING Groep NV		669		9,048
Koninklijke Ahold NV		473		10,007
Koninklijke DSM NV		35		1,760
Koninklijke KPN NV		736		2,792
Koninklijke Philips NV		114		2,918
NN Group NV		599		21,180
Royal Dutch Shell PLC Class A		945		21,255
Royal Dutch Shell PLC Class B		1,614		36,706
Wolters Kluwer NV		112		3,767
				135,355
NEW ZEALAND — 0.2%
Auckland International Airport, Ltd.		1,808		7,117
Meridian Energy, Ltd.		1,288		2,107
Ryman Healthcare, Ltd.		367		2,136
				11,360
NORWAY — 0.3%
DNB ASA		185		2,295
Gjensidige Forsikring ASA		134		2,151
Statoil ASA		343		4,794
Telenor ASA		240		4,021
Yara International ASA		52		2,249
				15,510
PORTUGAL — 0.1%
EDP — Energias de Portugal SA		613		2,211
Jeronimo Martins SGPS SA		169		2,202
				4,413
SINGAPORE — 2.1%
ComfortDelGro Corp., Ltd.		1,000		2,150
DBS Group Holdings, Ltd.		2,060		24,235
Keppel Corp., Ltd.		1,000		4,589
Oversea-Chinese Banking Corp., Ltd.		2,868		17,790
Sembcorp Marine, Ltd.		1,000		1,234
Singapore Airlines, Ltd.		1,000		7,895
Singapore Exchange, Ltd.		1,000		5,428
Singapore Press Holdings, Ltd.		1,000		2,777
Singapore Technologies Engineering, Ltd.		1,000		2,122
Singapore Telecommunications, Ltd.		9,000		23,283
StarHub, Ltd.		2,000		5,216
United Overseas Bank, Ltd.		1,000		13,823
Wilmar International, Ltd.		1,000		2,072
				112,614
SOUTH AFRICA — 0.1%
Mondi PLC		198		3,893
SPAIN — 1.6%
ACS Actividades de Construccion y Servicios SA		65		1,907
Banco Bilbao Vizcaya Argentaria SA		1,230		9,004
Banco de Sabadell SA		1,010		1,794
Banco Popular Espanol SA		717		2,370
Banco Santander SA		3,750		18,568
CaixaBank SA		440		1,536
Distribuidora Internacional de Alimentacion SA (a)		438		2,590
Endesa SA		253		5,091
Iberdrola SA		926		6,589
Industria de Diseno Textil SA		645		22,204
Repsol SA		365		4,013
Telefonica SA		982		10,918
Zardoya Otis SA		150		1,757
				88,341
SWEDEN — 1.9%
Alfa Laval AB		174		3,199
Assa Abloy AB Class B		465		9,818
Atlas Copco AB Class A		644		15,919
Hennes & Mauritz AB Class B		627		22,468
ICA Gruppen AB		105		3,829
Industrivarden AB Class C		121		2,083
Investment AB Kinnevik Class B		224		6,961
Investor AB Class B		142		5,265
Nordea Bank AB		536		5,932
Sandvik AB		171		1,502
Skandinaviska Enskilda Banken AB Class A		260		2,757
Skanska AB Class B		248		4,848
Svenska Cellulosa AB SCA Class B		87		2,544
Svenska Handelsbanken AB Class A		231		3,093
Swedbank AB Class A		146		3,240
Telefonaktiebolaget LM Ericsson Class B		358		3,495
TeliaSonera AB		585		2,928
Volvo AB Class B		234		2,195
				102,076
SWITZERLAND — 12.7%
ABB, Ltd. (a)		1,089		19,539
Actelion, Ltd. (a)		58		8,089
Adecco SA (a)		99		6,814
Barry Callebaut AG (a)		4		4,384
Chocoladefabriken Lindt & Spruengli AG		3		18,746
Cie Financiere Richemont SA		54		3,889
Credit Suisse Group AG (a)		337		7,302
EMS-Chemie Holding AG		9		3,965
Galenica AG		2		3,145

149

SPDR MSCI EAFE Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Geberit AG		24	$	8,157
Givaudan SA (a)		7		12,748
Glencore PLC		9,430		12,576
Julius Baer Group, Ltd. (a)		232		11,278
Kuehne + Nagel International AG		151		20,787
LafargeHolcim, Ltd. (a) (c)		32		1,608
LafargeHolcim, Ltd. (a) (c)		27		1,370
Nestle SA		1,829		136,216
Novartis AG		1,278		110,820
Partners Group Holding AG		18		6,496
Roche Holding AG		451		124,532
Schindler Holding AG (c)		27		4,531
Schindler Holding AG (c)		17		2,870
SGS SA		5		9,545
Sika AG		1		3,616
Sonova Holding AG		24		3,052
Swatch Group AG (c)		15		5,248
Swatch Group AG (c)		40		2,717
Swiss Life Holding AG (a)		11		2,981
Swiss Prime Site AG (a)		188		14,743
Swiss Re AG		381		37,358
Swisscom AG		58		29,145
Syngenta AG		47		18,420
UBS Group AG		511		9,965
Wolseley PLC		149		8,106
Zurich Insurance Group AG (a)		75		19,361
				694,119
UNITED KINGDOM — 23.8%
Aberdeen Asset Management PLC		632		2,696
Admiral Group PLC		637		15,576
Aggreko PLC		210		2,829
Amec Foster Wheeler PLC		167		1,056
Anglo American PLC		969		4,277
ARM Holdings PLC		722		11,057
Associated British Foods PLC		179		8,817
AstraZeneca PLC		1,022		69,540
Aviva PLC		371		2,822
Babcock International Group PLC		322		4,822
BAE Systems PLC		2,064		15,198
Barclays PLC		4,613		14,883
BG Group PLC		1,856		26,945
BP PLC		6,999		36,518
British American Tobacco PLC		1,341		74,534
BT Group PLC		2,316		16,102
Bunzl PLC		391		10,863
Burberry Group PLC		281		4,949
Capita PLC		577		10,273
Centrica PLC		5,667		18,217
CNH Industrial NV		378		2,603
Cobham PLC		687		2,868
Compass Group PLC		2,415		41,824
Croda International PLC		89		3,990
Diageo PLC		1,874		51,278
Direct Line Insurance Group PLC		1,699		10,204
easyJet PLC		243		6,232
Fiat Chrysler Automobiles NV (a)		371		5,207
G4S PLC		2,454		8,156
GKN PLC		1,077		4,896
GlaxoSmithKline PLC		1,507		30,497
Hargreaves Lansdown PLC		156		3,463
HSBC Holdings PLC		7,321		57,858
ICAP PLC		385		2,891
IMI PLC		183		2,324
Imperial Tobacco Group PLC		784		41,443
Inmarsat PLC		609		10,206
Intertek Group PLC		89		3,643
ITV PLC		2,331		9,503
J Sainsbury PLC		1,722		6,568
Johnson Matthey PLC		121		4,739
Kingfisher PLC		1,582		7,683
Land Securities Group PLC		248		4,302
Legal & General Group PLC		2,879		11,364
Lloyds Banking Group PLC		15,656		16,861
Marks & Spencer Group PLC		1,471		9,808
Meggitt PLC		476		2,629
Merlin Entertainments PLC (b)		680		4,565
National Grid PLC		2,103		29,059
Next PLC		198		21,275
Old Mutual PLC		759		2,001
Pearson PLC		127		1,378
Persimmon PLC (a)		182		5,437
Petrofac, Ltd.		183		2,147
Provident Financial PLC		70		3,474
Prudential PLC		1,279		28,861
Randgold Resources, Ltd.		271		16,548
Reckitt Benckiser Group PLC		636		58,878
RELX NV		724		12,222
RELX PLC		1,800		31,757
Rexam PLC		432		3,849
Rio Tinto PLC		807		23,545
Rio Tinto, Ltd.		256		8,327
Rolls-Royce Holdings PLC (a)		1,287		10,907
Royal Bank of Scotland Group PLC (a)		449		1,999
Royal Mail PLC		2,421		15,843
SABMiller PLC		462		27,711
Sage Group PLC		688		6,120
Schroders PLC		70		3,070
Sky PLC		1,419		23,257
Smith & Nephew PLC		1,129		20,101
Smiths Group PLC		257		3,559
Sports Direct International PLC (a)		203		1,726
SSE PLC		1,300		29,278
St James’s Place PLC		243		3,610
Standard Chartered PLC		983		8,167
Standard Life PLC		310		1,781
Tate & Lyle PLC		957		8,449
Tesco PLC (a)		3,351		7,384
Unilever NV		994		43,305
Unilever PLC		1,262		54,435
United Utilities Group PLC		175		2,413
Vodafone Group PLC		9,238		30,091
Weir Group PLC		117		1,724
Whitbread PLC		93		6,033
William Hill PLC		530		3,093
Wm Morrison Supermarkets PLC		703		1,536
WPP PLC		670		15,435
				1,299,364
UNITED STATES — 0.1%
QIAGEN NV (a)		111		3,028
Transocean, Ltd.		205		2,560
				5,588
TOTAL COMMON STOCKS (Cost $5,915,192)				5,432,008

150

SPDR MSCI EAFE Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
RIGHTS — 0.0% (d)
ITALY — 0.0% (d)
UBI Banca (expiring 1/12/16) (a)		311	$	15
SPAIN — 0.0% (d)
Repsol SA (expiring 1/14/16) (a)		365		182
TOTAL RIGHTS (Cost $185)				197
SHORT-TERM INVESTMENT — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f) (Cost $2,983)		2,983		2,983
TOTAL INVESTMENTS — 99.6% (Cost $5,918,360)				5,435,188
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%				24,269
NET ASSETS — 100.0%			$	5,459,457

(a) Non-income producing security

(b) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.2% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Amount shown represents less than 0.05% of net assets.

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

REIT = Real Estate Investment Trust

151

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
BRAZIL — 4.3%
Ambev SA ADR		182,572	$	814,271
Banco Bradesco SA Preference Shares		33,985		165,619
Banco Bradesco SA		9,164		47,485
Banco do Brasil SA		18,981		70,718
Banco Santander Brasil SA		2,600		10,541
BB Seguridade Participacoes SA		31,578		194,197
BM&FBovespa SA		7,817		21,517
BR Malls Participacoes SA		2,564		7,194
BRF SA ADR		4,653		64,304
CCR SA		2,420		7,677
Centrais Eletricas Brasileiras SA ADR		5,027		12,970
CETIP SA — Mercados Organizados		6,784		64,303
Cia Brasileira de Distribuicao ADR		1,688		17,758
Cia de Saneamento Basico do Estado de Sao Paulo ADR		3,339		15,359
Cia Energetica de Minas Gerais ADR		28,517		42,776
Cia Energetica de Sao Paulo Class B, Preference Shares		1,288		4,363
Cia Paranaense de Energia ADR		1,688		9,909
Cia Siderurgica Nacional SA ADR		10,049		9,807
Cielo SA		44,245		375,656
Cosan SA Industria e Comercio		1,288		8,204
CPFL Energia SA ADR (a)		1,743		12,933
EDP — Energias do Brasil SA		2,100		6,391
Embraer SA ADR		832		24,577
Equatorial Energia SA		1,100		9,520
Estacio Participacoes SA		6,255		22,056
Fibria Celulose SA ADR		959		12,170
Gerdau SA Preference Shares		23,419		27,526
Hypermarcas SA (a)		1,900		10,426
Itau Unibanco Holding SA ADR		25,053		163,095
Itausa — Investimentos Itau SA Preference Shares		136,470		237,324
JBS SA		4,504		14,060
Klabin SA		1,766		10,468
Kroton Educacional SA		5,140		12,381
Lojas Renner SA		19,034		82,270
M Dias Branco SA		788		13,245
Natura Cosmeticos SA		604		3,586
Odontoprev SA		7,900		18,870
Petroleo Brasileiro SA ADR (a)		107,932		404,267
Porto Seguro SA		664		4,832
Sul America SA		1,800		8,467
Telefonica Brasil SA ADR		3,339		30,151
Tim Participacoes SA ADR		1,651		14,000
TOTVS SA		7,597		59,585
Tractebel Energia SA		5,076		42,969
Transmissora Alianca de Energia Eletrica SA		517		2,189
Ultrapar Participacoes SA ADR		1,758		26,810
Vale SA ADR (c)		26,938		88,626
Vale SA ADR (c)		49,852		127,123
				3,454,545
CHILE — 1.6%
AES Gener SA		93,898		41,667
Aguas Andinas SA Class A		364,297		186,920
Banco de Chile ADR		5,661		336,320
Banco de Credito e Inversiones		831		31,347
Security Description	Shares		Value
Banco Santander Chile ADR		1,038		18,310
Cencosud SA ADR		4,440		27,439
Cia Cervecerias Unidas SA ADR		4,325		93,680
Colbun SA		788,773		188,344
Corpbanca SA ADR		792		9,266
Empresa Nacional de Electricidad SA ADR		3,759		139,309
Empresa Nacional de Telecomunicaciones SA		678		6,067
Empresas CMPC SA		9,447		20,383
Empresas COPEC SA		6,886		59,115
Enersis SA ADR		2,762		33,558
Latam Airlines Group SA ADR (a)		4,061		21,889
SACI Falabella		5,098		32,490
Sociedad Quimica y Minera de Chile SA ADR		620		11,786
				1,257,890
CHINA — 23.7%
AAC Technologies Holdings, Inc.		39,000		254,376
Agricultural Bank of China, Ltd. Class H		635,000		259,730
Air China, Ltd. Class H		10,000		7,884
Alibaba Group Holding, Ltd. ADR (a)		15,174		1,233,191
Aluminum Corp. of China, Ltd. Class H (a)		80,000		26,529
Anhui Conch Cement Co., Ltd. Class H		7,500		20,177
ANTA Sports Products, Ltd.		65,000		178,642
AviChina Industry & Technology Co., Ltd. Class H		4,000		3,148
Baidu, Inc. ADR (a)		3,558		672,604
Bank of China, Ltd. Class H		2,003,071		894,257
Bank of Communications Co., Ltd. Class H		195,000		137,378
Beijing Capital International Airport Co., Ltd. Class H		42,000		45,359
Beijing Enterprises Holdings, Ltd.		24,000		145,391
Beijing Enterprises Water Group, Ltd. (a)		148,000		103,693
Belle International Holdings, Ltd.		151,000		113,394
Brilliance China Automotive Holdings, Ltd.		100,000		125,804
Byd Co., Ltd. Class H (a)		1,500		8,255
CGN Power Co., Ltd. Class H (b)		16,100		6,024
China Cinda Asset Management Co., Ltd. Class H		78,000		28,885
China CITIC Bank Corp., Ltd. Class H (a)		207,000		134,080
China Coal Energy Co., Ltd. Class H		41,000		15,712
China Communications Construction Co., Ltd. Class H		53,000		54,162
China Communications Services Corp., Ltd. Class H		242,000		90,865
China Conch Venture Holdings, Ltd.		6,500		13,469
China Construction Bank Corp. Class H		1,693,394		1,160,226
China COSCO Holdings Co., Ltd. Class H (a)		9,500		4,315
China Everbright Bank Co., Ltd. Class H		227,274		110,556
China Everbright International, Ltd.		7,000		8,996
China Everbright, Ltd.		6,000		13,796

152

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
China Galaxy Securities Co., Ltd. Class H		11,516	$	10,550
China Huishan Dairy Holdings Co., Ltd.		97,509		37,367
China International Marine Containers Group Co., Ltd. Class H		3,800		6,953
China Jinmao Holdings Group, Ltd.		34,000		11,626
China Life Insurance Co., Ltd. Class H		44,000		142,217
China Longyuan Power Group Corp., Ltd. Class H		15,000		11,322
China Medical System Holdings, Ltd.		97,000		142,931
China Mengniu Dairy Co., Ltd.		92,000		150,046
China Merchants Bank Co., Ltd. Class H		54,000		127,507
China Merchants Holdings International Co., Ltd.		12,000		38,167
China Minsheng Banking Corp., Ltd. Class H		120,800		119,707
China Mobile, Ltd.		183,997		2,077,345
China National Building Material Co., Ltd. Class H		98,000		47,039
China Oilfield Services, Ltd. Class H		30,000		25,819
China Overseas Land & Investment, Ltd.		112,000		393,076
China Pacific Insurance Group Co., Ltd. Class H		14,200		58,448
China Petroleum & Chemical Corp. Class H		716,395		432,602
China Power International Development, Ltd.		24,000		13,873
China Railway Construction Corp., Ltd. Class H		34,000		42,159
China Railway Group, Ltd. Class H		58,000		44,079
China Resources Beer Holdings Co., Ltd.		44,069		94,391
China Resources Gas Group, Ltd.		42,000		125,456
China Resources Land, Ltd.		14,444		42,120
China Resources Power Holdings Co., Ltd.		48,267		93,916
China Shenhua Energy Co., Ltd. Class H		57,000		89,580
China Southern Airlines Co., Ltd. Class H		18,000		13,889
China State Construction International Holdings, Ltd.		6,000		10,420
China Taiping Insurance Holdings Co., Ltd. (a)		9,210		28,521
China Telecom Corp., Ltd. Class H		154,000		72,329
China Unicom Hong Kong, Ltd.		86,000		104,863
China Vanke Co., Ltd. Class H		9,128		26,971
Chongqing Changan Automobile Co., Ltd. Class B		27,300		60,235
Chongqing Rural Commercial Bank Co., Ltd. Class H		53,000		32,073
CITIC Securities Co., Ltd. Class H		5,500		12,859
CITIC, Ltd.		28,000		49,568
CNOOC, Ltd.		281,000		292,597
COSCO Pacific, Ltd.		12,173		13,414
Country Garden Holdings Co., Ltd.		68,266		28,011
CRRC Corp., Ltd. Class H		12,000		14,833
CSPC Pharmaceutical Group, Ltd.		140,000		143,068
Dalian Wanda Commercial Properties Co., Ltd. Class H (b)		8,800		51,380
Security Description	Shares		Value
Datang International Power Generation Co., Ltd. Class H		32,000		9,744
Dongfeng Motor Group Co., Ltd. Class H		94,000		125,654
ENN Energy Holdings, Ltd.		8,000		42,683
Evergrande Real Estate Group, Ltd.		30,000		26,400
Far East Horizon, Ltd.		11,000		10,233
Fosun International, Ltd.		8,000		12,490
Geely Automobile Holdings, Ltd.		30,000		15,987
GF Securities Co., Ltd. Class H (a)		10,200		25,611
GOME Electrical Appliances Holding, Ltd.		79,000		13,149
Great Wall Motor Co., Ltd. Class H		108,000		125,835
Guangdong Investment, Ltd.		294,000		416,524
Guangzhou Automobile Group Co., Ltd. Class H		12,000		10,699
Guangzhou R&F Properties Co., Ltd. Class H		21,200		26,123
Haitian International Holdings, Ltd.		15,000		21,909
Haitong Securities Co., Ltd. Class H		8,800		15,556
Hengan International Group Co., Ltd.		42,374		400,222
Huadian Power International Corp., Ltd. Class H		10,000		6,516
Huaneng Power International, Inc. Class H		40,000		34,528
Huaneng Renewables Corp., Ltd. Class H		38,000		11,375
Huatai Securities Co., Ltd. Class H (a) (b)		7,643		17,830
Industrial & Commercial Bank of China, Ltd. Class H		1,464,448		884,321
JD.com, Inc. ADR (a)		311		10,034
Jiangsu Expressway Co., Ltd. Class H		214,000		288,825
Jiangxi Copper Co., Ltd. Class H		27,000		32,016
Kingsoft Corp., Ltd.		2,000		4,898
Kunlun Energy Co., Ltd.		26,000		23,148
Lenovo Group, Ltd.		188,915		191,836
Longfor Properties Co., Ltd.		12,000		17,899
Luye Pharma Group, Ltd. (a)		32,000		33,362
NetEase, Inc. ADR		1,834		332,394
New China Life Insurance Co., Ltd. Class H		4,300		18,060
New Oriental Education & Technology Group, Inc. ADR		1,790		56,152
People’s Insurance Co. Group of China, Ltd. Class H		62,000		30,399
PetroChina Co., Ltd. Class H		424,000		277,920
PICC Property & Casualty Co., Ltd. Class H		110,180		219,218
Ping An Insurance Group Co. of China, Ltd. Class H		24,000		133,159
Semiconductor Manufacturing International Corp. (a)		992,000		101,118
Shandong Weigao Group Medical Polymer Co., Ltd. Class H		20,000		13,755
Shanghai Electric Group Co., Ltd. Class H		10,000		5,303
Shanghai Industrial Holdings, Ltd.		4,000		10,503
Shanghai Pharmaceuticals Holding Co., Ltd. Class H		28,600		61,922
Shenzhou International Group Holdings, Ltd.		70,000		402,379

153

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Shui On Land, Ltd.		31,500	$	8,657
Sino-Ocean Land Holdings, Ltd.		53,000		33,988
Sinopec Engineering Group Co., Ltd. Class H		46,241		39,498
Sinopec Shanghai Petrochemical Co., Ltd. Class H (a)		26,000		10,366
Sinopharm Group Co., Ltd. Class H		15,200		60,995
Sinotrans, Ltd. Class H		13,000		6,995
SOHO China, Ltd. (a)		36,500		17,708
SouFun Holdings, Ltd. ADR		3,663		27,070
Sunac China Holdings, Ltd.		37,000		28,645
TAL Education Group ADR (a)		2,236		103,907
Tencent Holdings, Ltd.		88,593		1,743,248
Tingyi Cayman Islands Holding Corp.		84,000		119,874
TravelSky Technology, Ltd. Class H		40,000		65,857
Tsingtao Brewery Co., Ltd. Class H		24,000		108,695
Vipshop Holdings, Ltd. ADR (a)		5,782		88,291
Want Want China Holdings, Ltd.		216,000		160,812
Weichai Power Co., Ltd. Class H		10,000		11,071
Yanzhou Coal Mining Co., Ltd. Class H		30,000		14,013
Yuexiu Property Co., Ltd.		90,000		15,561
YY, Inc. ADR (a)		898		56,098
Zhejiang Expressway Co., Ltd. Class H		248,000		298,234
Zhuzhou CSR Times Electric Co., Ltd. Class H		16,000		93,005
Zijin Mining Group Co., Ltd. Class H		38,000		9,953
ZTE Corp. Class H		32,880		75,007
				18,919,462
COLOMBIA — 0.4%
Bancolombia SA ADR		787		21,052
Corp. Financiera Colombiana SA (a)		3,965		44,090
Ecopetrol SA ADR		3,921		27,486
Grupo Argos SA		1,593		8,129
Grupo Aval Acciones y Valores SA Preference Shares		23,735		8,150
Grupo de Inversiones Suramericana SA Preference Shares		16,295		178,632
Grupo de Inversiones Suramericana SA		1,303		14,654
				302,193
CZECH REPUBLIC — 0.3%
CEZ A/S		5,020		89,663
Komercni banka A/S		556		110,640
O2 Czech Republic A/S		2,426		24,479
				224,782
EGYPT — 0.4%
Commercial International Bank Egypt SAE GDR		78,795		338,818
Talaat Moustafa Group		15,234		12,588
				351,406
GREECE — 0.2%
Alpha Bank AE (a)		1,041		2,816
Eurobank Ergasias SA (a)		1,937		2,188
FF Group (a)		300		5,638
Hellenic Telecommunications Organization SA		2,558		25,676
National Bank of Greece SA (a)		1,563		582
OPAP SA		9,012		79,297
Piraeus Bank SA (a)		455		137
Public Power Corp. SA		3,489		14,706
				131,040
HONG KONG — 1.0%
China Gas Holdings, Ltd.		20,000		28,851
GCL-Poly Energy Holdings, Ltd.		76,000		11,375
Haier Electronics Group Co., Ltd.		58,000		117,644
Hanergy Thin Film Power Group, Ltd. (a)		598,000		—
New World China Land, Ltd.		30,000		24,038
Nine Dragons Paper Holdings, Ltd.		14,000		8,292
Shimao Property Holdings, Ltd.		19,000		33,783
Sino Biopharmaceutical, Ltd.		392,000		357,093
Sun Art Retail Group, Ltd.		282,832		213,488
				794,564
HUNGARY — 0.2%
MOL Hungarian Oil & Gas PLC		832		40,771
OTP Bank PLC		1,896		39,106
Richter Gedeon Nyrt		3,244		61,311
				141,188
INDIA — 9.4%
ACC, Ltd.		1,159		23,837
Adani Ports & Special Economic Zone, Ltd.		2,351		9,272
Aditya Birla Nuvo, Ltd.		376		12,317
Ambuja Cements, Ltd.		19,729		60,553
Asian Paints, Ltd.		10,778		143,946
Aurobindo Pharma, Ltd.		3,773		49,957
Bajaj Auto, Ltd.		3,085		118,072
Bharat Forge, Ltd.		2,703		36,445
Bharat Heavy Electricals, Ltd.		4,352		11,127
Bharat Petroleum Corp., Ltd.		1,869		25,209
Bharti Airtel, Ltd.		6,388		32,869
Bharti Infratel, Ltd.		1,813		11,732
Bosch, Ltd.		205		57,785
Cadila Healthcare, Ltd.		6,370		31,539
Cairn India, Ltd.		8,488		17,719
Cipla, Ltd.		10,802		106,091
Coal India, Ltd.		32,457		161,804
Container Corp. Of India, Ltd.		856		16,989
Dabur India, Ltd.		68,121		285,175
Divi’s Laboratories, Ltd.		8,751		152,761
Dr Reddy’s Laboratories, Ltd. ADR		5,416		250,707
Eicher Motors, Ltd.		383		97,582
GAIL India, Ltd. GDR		585		19,773
GlaxoSmithKline Consumer Healthcare, Ltd.		363		35,151
Godrej Consumer Products, Ltd.		3,409		67,988
HCL Technologies, Ltd.		25,371		327,932
Hero MotoCorp, Ltd.		1,968		80,143
Hindalco Industries, Ltd.		21,700		27,799
Hindustan Unilever, Ltd.		31,038		404,770
Housing Development Finance Corp., Ltd.		5,730		109,457
ICICI Bank, Ltd. ADR		3,728		29,190
Idea Cellular, Ltd.		5,922		12,859
Indiabulls Housing Finance, Ltd.		1,100		12,249
Infosys, Ltd. ADR		69,970		1,171,998
ITC, Ltd.		80,943		401,067
JSW Steel, Ltd.		752		11,733
Larsen & Toubro, Ltd. GDR		1,105		21,437
LIC Housing Finance, Ltd.		2,145		16,538
Lupin, Ltd.		7,015		194,816

154

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Mahindra & Mahindra, Ltd. GDR		1,790	$	34,368
Marico, Ltd.		11,525		39,397
Marico, Ltd. (a)		11,525		39,397
Maruti Suzuki India, Ltd.		2,865		200,161
Motherson Sumi Systems, Ltd.		8,539		37,838
Nestle India, Ltd.		877		77,259
NTPC, Ltd.		9,875		21,830
Oil & Natural Gas Corp., Ltd.		7,576		27,684
Power Finance Corp., Ltd.		3,615		11,005
Reliance Communications, Ltd. (a)		12,256		16,349
Reliance Industries, Ltd. GDR (b)		5,332		163,159
Rural Electrification Corp., Ltd.		2,424		8,301
Shriram Transport Finance Co., Ltd.		727		9,436
State Bank of India GDR		1,669		56,329
Sun Pharmaceutical Industries, Ltd.		35,990		446,174
Tata Consultancy Services, Ltd.		22,949		845,321
Tata Motors, Ltd. ADR (a)		1,440		42,437
Tata Motors, Ltd. (a)		4,212		18,422
Tata Power Co., Ltd.		12,347		12,673
Tata Steel, Ltd. GDR		5,630		22,239
Tech Mahindra, Ltd.		15,291		120,571
UltraTech Cement, Ltd.		213		8,952
UPL, Ltd.		8,076		53,481
Vedanta, Ltd.		9,613		13,136
Wipro, Ltd. ADR		32,248		372,142
Zee Entertainment Enterprises, Ltd.		17,662		116,734
				7,473,183
INDONESIA — 4.2%
Adaro Energy Tbk PT		226,000		8,443
Astra Agro Lestari Tbk PT		2,100		2,415
Astra International Tbk PT		569,900		248,052
Bank Central Asia Tbk PT		669,525		645,969
Bank Danamon Indonesia Tbk PT		46,500		10,794
Bank Mandiri Persero Tbk PT		299,100		200,702
Bank Negara Indonesia Persero Tbk PT		63,100		22,841
Bank Rakyat Indonesia Persero Tbk PT		360,500		298,782
Bumi Serpong Damai Tbk PT		40,300		5,262
Charoen Pokphand Indonesia Tbk PT		28,200		5,319
Gudang Garam Tbk PT		7,900		31,520
Hanjaya Mandala Sampoerna Tbk PT		14,400		98,194
Indocement Tunggal Prakarsa Tbk PT		49,300		79,842
Indofood CBP Sukses Makmur Tbk PT		69,200		67,644
Indofood Sukses Makmur Tbk PT		291,600		109,469
Jasa Marga Persero Tbk PT		45,800		17,360
Kalbe Farma Tbk PT		1,850,200		177,168
Lippo Karawaci Tbk PT		97,300		7,306
Media Nusantara Citra Tbk PT		151,400		20,373
Perusahaan Gas Negara Persero Tbk PT		344,900		68,680
Semen Indonesia Persero Tbk PT		100,800		83,360
Summarecon Agung Tbk PT		296,900		35,538
Surya Citra Media Tbk PT		211,600		47,585
Telekomunikasi Indonesia Persero Tbk PT		2,696,356		607,340
Tower Bersama Infrastructure Tbk PT (a)		110,131		46,937
Unilever Indonesia Tbk PT		135,900		364,766
United Tractors Tbk PT		51,400		63,201
				3,374,862
MALAYSIA — 4.4%
AirAsia Bhd		36,000		10,816
Alliance Financial Group Bhd		6,900		5,721
AMMB Holdings Bhd		16,100		16,987
Astro Malaysia Holdings Bhd		19,500		12,535
Axiata Group Bhd		163,539		244,156
Berjaya Sports Toto Bhd		34,457		24,477
British American Tobacco Malaysia Bhd		4,700		61,390
CIMB Group Holdings Bhd		56,691		59,946
DiGi.Com Bhd		135,000		169,792
Gamuda Bhd		5,500		5,970
Genting Bhd		18,000		30,772
Genting Malaysia Bhd		16,800		17,138
Hartalega Holdings Bhd		27,600		38,184
Hong Leong Bank Bhd		78,920		247,044
Hong Leong Financial Group Bhd		3,900		12,681
IHH Healthcare Bhd		262,100		401,681
IJM Corp. Bhd		18,200		14,328
IOI Corp. Bhd		9,300		9,661
IOI Properties Group Bhd		27,300		14,307
Kuala Lumpur Kepong Bhd		2,600		13,855
Malayan Banking Bhd		198,817		388,975
Maxis Bhd		207,700		328,953
MISC Bhd		5,100		11,130
Petronas Chemicals Group Bhd		125,100		211,826
Petronas Dagangan Bhd		5,400		31,267
Petronas Gas Bhd		48,200		254,836
PPB Group Bhd		4,000		14,813
Public Bank Bhd		96,917		418,051
RHB Capital Bhd		7,874		10,398
SapuraKencana Petroleum Bhd		14,300		6,728
Sime Darby Bhd		63,017		113,749
Telekom Malaysia Bhd		67,185		106,094
Tenaga Nasional Bhd		46,200		143,329
UMW Holdings Bhd		5,200		9,532
Westports Holdings Bhd		24,100		23,126
YTL Corp. Bhd		35,100		12,835
YTL Power International Bhd		16,300		5,619
				3,502,702
MEXICO — 3.2%
Alfa SAB de CV Class A		15,092		29,797
America Movil SAB de CV Series L		321,103		225,333
Arca Continental SAB de CV		32,680		198,073
Cemex SAB de CV (a)		90,659		49,500
Coca-Cola Femsa SAB de CV Series L		6,713		48,158
Controladora Comercial Mexicana SAB de CV		44,599		122,168
El Puerto de Liverpool SAB de CV Series C1		25,957		315,777
Fibra Uno Administracion SA de CV		20,310		44,674
Fomento Economico Mexicano SAB de CV		5,614		52,538
Gentera SAB de CV		33,541		64,766
Gruma SAB de CV Class B		6,156		86,168
Grupo Aeroportuario del Pacifico SAB de CV Class B		13,425		118,190
Grupo Aeroportuario del Sureste SAB de CV Class B		4,022		56,796
Grupo Bimbo SAB de CV Series A (a)		13,112		34,885
Grupo Carso SAB de CV Series A1		3,263		13,410
Grupo Financiero Banorte SAB de CV Series O		13,650		75,074

155

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Grupo Financiero Inbursa SAB de CV Series O		73,263	$	131,924
Grupo Financiero Santander Mexico SAB de CV Class B		13,425		23,514
Grupo Lala SAB de CV		17,458		40,503
Grupo Mexico SAB de CV Series B		28,595		60,911
Grupo Televisa SAB Series CPO		8,401		45,889
Industrias Penoles SAB de CV		1,008		10,343
Kimberly-Clark de Mexico SAB de CV Class A		41,751		97,590
Mexichem SAB de CV		6,713		14,964
OHL Mexico SAB de CV (a)		8,401		8,775
Promotora y Operadora de Infraestructura SAB de CV (a)		557		6,538
Telesites SAB de CV (a)		1,655		1,074
Wal-Mart de Mexico SAB de CV		219,493		552,699
				2,530,031
NETHERLANDS — 0.1%
Steinhoff International Holdings NV		7,795		39,494
PERU — 0.5%
Cia de Minas Buenaventura SAA ADR		6,713		28,732
Credicorp, Ltd.		2,936		285,731
Southern Copper Corp.		4,471		116,783
				431,246
PHILIPPINES — 2.0%
Aboitiz Equity Ventures, Inc.		40,450		49,816
Aboitiz Power Corp.		232,300		205,863
Ayala Corp.		720		11,568
Ayala Land, Inc.		13,700		10,030
Bank of the Philippine Islands		123,940		220,856
BDO Unibank, Inc.		82,540		184,182
DMCI Holdings, Inc.		115,430		33,853
GT Capital Holdings, Inc.		475		13,325
International Container Terminal Services, Inc.		58,530		87,444
JG Summit Holdings, Inc.		8,620		13,428
Jollibee Foods Corp.		40,420		188,120
Megaworld Corp.		70,000		6,322
Metro Pacific Investments Corp.		121,600		13,438
Metropolitan Bank & Trust Co.		55,821		95,496
Philippine Long Distance Telephone Co.		8,409		368,134
Robinsons Land Corp.		27,300		15,955
SM Investments Corp.		620		11,384
SM Prime Holdings, Inc.		26,400		12,175
Universal Robina Corp.		23,010		90,954
				1,632,343
POLAND — 1.3%
Bank Millennium SA (a)		10,792		15,195
Bank Pekao SA		3,669		133,327
Bank Zachodni WBK SA (a)		870		62,568
CCC SA		680		23,858
Cyfrowy Polsat SA (a)		5,111		27,024
Enea SA		4,753		13,601
Energa SA		3,948		12,637
Eurocash SA		1,696		20,830
Grupa Lotos SA (a)		4,205		28,751
KGHM Polska Miedz SA		2,536		40,773
LPP SA		37		52,048
mBank SA (a)		151		12,007
Orange Polska SA		7,653		12,713
PGE Polska Grupa Energetyczna SA		56,227		182,110
Polski Koncern Naftowy Orlen SA		6,872		118,073
Polskie Gornictwo Naftowe i Gazownictwo SA		17,157		22,332
Powszechna Kasa Oszczednosci Bank Polski SA (a)		7,911		54,751
Powszechny Zaklad Ubezpieczen SA		23,954		206,362
Tauron Polska Energia SA		39,347		28,696
				1,067,656
QATAR — 1.7%
Barwa Real Estate Co.		3,681		40,425
Commercial Bank QSC		16,256		204,857
Doha Bank QSC		5,525		67,502
Ezdan Holding Group QSC		1,342		5,858
Industries Qatar QSC		4,811		146,749
Masraf Al Rayan QSC		12,820		132,343
Ooredoo QSC		991		20,406
Qatar Electricity & Water Co. QSC		5,189		308,294
Qatar Gas Transport Co., Ltd.		1,855		11,892
Qatar Insurance Co. SAQ		5,567		125,331
Qatar Islamic Bank SAQ		5,594		163,874
Qatar National Bank SAQ		3,266		156,920
Vodafone Qatar QSC		3,126		10,900
				1,395,351
ROMANIA — 0.0% (d)
New Europe Property Investments PLC		1,147		13,162
RUSSIA — 3.2%
AK Transneft OAO Preference Shares (a)		28		74,529
Alrosa PAO (a)		4,869		3,737
Gazprom PAO ADR		134,560		496,863
Lukoil PJSC ADR		15,082		485,640
Magnit PJSC GDR		8,634		347,259
MegaFon PJSC GDR		572		6,664
MMC Norilsk Nickel PJSC ADR		2,132		27,002
Mobile TeleSystems PJSC ADR		19,897		122,963
Moscow Exchange MICEX-RTS PJSC		37,495		47,005
Novatek OAO GDR		287		23,577
Rosneft OAO GDR		23,772		82,631
Rostelecom PJSC ADR		2,180		16,104
RusHydro PJSC ADR		19,299		18,450
Sberbank of Russia PJSC ADR		32,485		191,012
Severstal PAO GDR		700		5,856
Sistema JSFC GDR		5,047		29,777
Surgutneftegas OAO ADR (c)		30,165		179,482
Surgutneftegas OAO ADR (c)		33,503		154,549
Tatneft PAO ADR		7,681		202,394
VTB Bank PJSC GDR		34,521		72,805
				2,588,299
SOUTH AFRICA — 6.2%
African Bank Investments, Ltd. (a)		1,693		—
AngloGold Ashanti, Ltd. (a)		4,016		27,540
Aspen Pharmacare Holdings, Ltd. (a)		3,268		65,269
Barclays Africa Group, Ltd.		2,694		24,947
Barloworld, Ltd.		2,437		9,746
Bidvest Group, Ltd.		12,402		262,687
Brait SE (a)		1,381		14,878
Capitec Bank Holdings, Ltd.		931		32,358
Coronation Fund Managers, Ltd.		8,318		28,397
Discovery, Ltd.		17,548		150,560

156

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Exxaro Resources, Ltd.		1,877	$	5,335
FirstRand, Ltd.		115,172		314,920
Fortress Income Fund, Ltd. Class A		59,482		61,726
Foschini Group, Ltd.		9,523		74,842
Gold Fields, Ltd.		8,537		23,249
Growthpoint Properties, Ltd.		8,289		12,426
Hyprop Investments, Ltd.		1,149		7,663
Impala Platinum Holdings, Ltd. (a)		7,758		12,537
Imperial Holdings, Ltd.		2,023		15,583
Investec, Ltd.		2,913		20,585
Liberty Holdings, Ltd.		9,796		72,815
Life Healthcare Group Holdings, Ltd.		68,435		154,885
Massmart Holdings, Ltd.		3,702		23,891
Mediclinic International, Ltd.		3,710		28,491
MMI Holdings, Ltd.		9,931		14,100
Mondi, Ltd.		551		10,926
Mr. Price Group, Ltd.		11,688		150,857
MTN Group, Ltd.		57,145		490,078
Naspers, Ltd. Class N		360		49,253
Nedbank Group, Ltd.		8,250		100,418
Netcare, Ltd.		42,765		93,558
Pick n Pay Stores, Ltd.		24,291		101,895
Pioneer Foods Group, Ltd.		1,959		20,101
Rand Merchant Insurance Holdings, Ltd.		30,988		77,413
Redefine Properties, Ltd.		179,667		112,469
Remgro, Ltd.		1,877		29,703
Resilient REIT, Ltd.		1,085		8,087
RMB Holdings, Ltd.		25,323		90,879
Sanlam, Ltd.		55,081		215,198
Sappi, Ltd. (a)		7,381		31,085
Sasol, Ltd.		19,503		527,867
Shoprite Holdings, Ltd.		24,063		222,469
SPAR Group, Ltd.		12,751		151,493
Standard Bank Group, Ltd.		37,119		271,886
Telkom SA SOC, Ltd.		2,124		8,818
Tiger Brands, Ltd.		7,209		147,218
Truworths International, Ltd.		17,346		102,035
Tsogo Sun Holdings, Ltd.		10,555		16,484
Vodacom Group, Ltd.		26,660		262,221
Woolworths Holdings, Ltd.		26,069		168,488
				4,920,329
SOUTH KOREA — 13.6%
Amorepacific Corp.		1,103		389,914
Amorepacific Corp. Preference Shares		228		44,723
Amorepacific Group		540		68,159
BGF retail Co., Ltd.		283		41,392
BNK Financial Group, Inc.		4,547		32,652
Cheil Worldwide, Inc. (a)		4,049		71,480
CJ CheilJedang Corp.		253		81,453
CJ Corp.		137		29,327
Coway Co., Ltd.		2,193		157,291
Daelim Industrial Co., Ltd.		332		18,999
Daewoo International Corp.		638		8,896
Daewoo Securities Co., Ltd.		796		6,429
DGB Financial Group, Inc.		2,853		24,453
Dongbu Insurance Co., Ltd.		5,296		317,521
Doosan Corp.		168		12,680
Doosan Heavy Industries & Construction Co., Ltd.		768		13,493
E-MART, Inc.		412		66,409
GS Engineering & Construction Corp. (a)		508		8,557
GS Holdings Corp.		374		16,171
Hana Financial Group, Inc.		7,324		147,411
Hankook Tire Co., Ltd.		879		35,271
Hanon Systems		1,018		45,059
Hanssem Co., Ltd.		333		65,745
Hanwha Chemical Corp.		1,098		25,471
Hanwha Corp.		1,314		44,153
Hanwha Life Insurance Co., Ltd.		3,004		18,933
Hotel Shilla Co., Ltd.		70		4,615
Hyosung Corp.		230		23,048
Hyundai Department Store Co., Ltd.		159		17,154
Hyundai Development Co-Engineering & Construction		150		4,964
Hyundai Engineering & Construction Co., Ltd.		1,426		34,721
Hyundai Glovis Co., Ltd.		120		19,752
Hyundai Heavy Industries Co., Ltd. (a)		1,108		82,967
Hyundai Marine & Fire Insurance Co., Ltd.		8,638		265,575
Hyundai Mobis Co., Ltd.		2,365		497,184
Hyundai Motor Co., GDR		187		8,172
Hyundai Motor Co. Preference Shares (c)		774		69,311
Hyundai Motor Co. Preference Shares (c)		412		36,191
Hyundai Motor Co.		2,510		318,954
Hyundai Steel Co.		1,215		51,758
Hyundai Wia Corp.		342		32,667
Industrial Bank of Korea		4,384		46,175
Kakao Corp.		343		33,874
Kangwon Land, Inc.		8,908		291,729
KB Financial Group, Inc. ADR (a)		6,721		187,314
KCC Corp.		40		14,242
KEPCO Plant Service & Engineering Co., Ltd.		2,077		157,650
Kia Motors Corp.		5,480		245,830
Korea Electric Power Corp. ADR (a)		11,316		239,560
Korea Gas Corp.		1,030		32,370
Korea Investment Holdings Co., Ltd.		188		7,945
Korea Zinc Co., Ltd.		39		15,599
Korean Air Lines Co., Ltd. (a)		771		18,214
KT Corp. ADR (a)		6,647		79,166
KT&G Corp.		6,402		570,559
Kumho Petrochemical Co., Ltd.		113		5,021
LG Chem, Ltd.		282		79,005
LG Chem, Ltd. Preference Shares		72		15,167
LG Corp.		799		48,245
LG Display Co., Ltd. ADR (a)		11,471		119,757
LG Electronics, Inc.		2,078		95,345
LG Household & Health Care, Ltd.		258		231,035
LG Innotek Co., Ltd.		132		11,089
LG Uplus Corp.		2,483		22,023
Lotte Chemical Corp.		110		22,843
Lotte Confectionery Co., Ltd.		7		13,605
Lotte Shopping Co., Ltd.		389		77,133
Mirae Asset Securities Co., Ltd.		365		6,724
NAVER Corp.		871		488,779
NCSoft Corp.		539		97,912
NH Investment & Securities Co., Ltd.		760		6,546
OCI Co., Ltd.		117		7,484

157

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Orion Corp.		58	$	57,676
POSCO ADR		6,951		245,787
S-1 Corp.		2,466		209,680
S-Oil Corp.		463		31,352
Samsung C&T Corp. (a)		146		17,432
Samsung Card Co., Ltd.		544		14,313
Samsung Electro-Mechanics Co., Ltd.		530		28,431
Samsung Electronics Co., Ltd. GDR (c)		3,063		1,627,985
Samsung Electronics Co., Ltd. GDR (c)		629		290,598
Samsung Fire & Marine Insurance Co., Ltd.		1,021		267,756
Samsung Heavy Industries Co., Ltd.		3,791		35,079
Samsung Life Insurance Co., Ltd.		2,898		271,869
Samsung SDI Co., Ltd.		609		59,209
Samsung SDS Co., Ltd.		65		14,080
Samsung Securities Co., Ltd.		231		8,225
Shinhan Financial Group Co., Ltd. ADR (a)		5,958		200,129
Shinsegae Co., Ltd.		93		18,242
SK Holdings Co., Ltd.		321		65,840
SK Hynix, Inc.		8,904		233,507
SK Innovation Co., Ltd. (a)		1,128		125,061
SK Networks Co., Ltd.		4,406		20,629
SK Telecom Co., Ltd. ADR		9,077		182,902
Woori Bank		7,427		55,866
Yuhan Corp.		826		191,962
				10,820,625
TAIWAN — 13.5%
Acer, Inc. (a)		53,258		19,619
Advanced Semiconductor Engineering, Inc.		60,000		69,413
Advantech Co., Ltd.		28,867		185,873
Asia Cement Corp.		180,200		150,317
Asustek Computer, Inc.		36,000		298,109
AU Optronics Corp.		199,000		58,948
Catcher Technology Co., Ltd.		17,000		142,844
Cathay Financial Holding Co., Ltd.		46,100		64,981
Chailease Holding Co., Ltd.		4,160		7,206
Chang Hwa Commercial Bank, Ltd.		60,794		29,058
Cheng Shin Rubber Industry Co., Ltd.		13,000		21,095
Chicony Electronics Co., Ltd.		90,280		198,442
China Airlines, Ltd. (a)		342,000		124,943
China Development Financial Holding Corp.		164,000		41,091
China Life Insurance Co., Ltd.		25,820		19,848
China Steel Corp.		139,440		76,200
Chunghwa Telecom Co., Ltd.		151,540		457,199
Compal Electronics, Inc.		95,000		53,506
CTBC Financial Holding Co., Ltd.		140,649		72,365
Delta Electronics, Inc.		81,623		386,409
E.Sun Financial Holding Co., Ltd.		60,680		35,377
Eclat Textile Co., Ltd.		6,000		82,839
Eva Airways Corp. (a)		60,589		34,309
Evergreen Marine Corp. Taiwan, Ltd.		31,000		12,505
Far Eastern New Century Corp.		48,560		38,068
Far EasTone Telecommunications Co., Ltd.		197,449		406,355
Feng TAY Enterprise Co., Ltd.		10,240		52,374
First Financial Holding Co., Ltd.		529,585		246,679
Formosa Chemicals & Fibre Corp.		25,000		56,322
Formosa Petrochemical Corp.		62,000		148,738
Formosa Plastics Corp.		68,000		159,406
Formosa Taffeta Co., Ltd.		82,000		74,893
Foxconn Technology Co., Ltd.		80,220		169,979
Fubon Financial Holding Co., Ltd.		43,000		58,909
Giant Manufacturing Co., Ltd.		8,000		53,338
Hermes Microvision, Inc.		1,000		36,381
Highwealth Construction Corp.		19,500		22,500
Hon Hai Precision Industry Co., Ltd.		252,058		620,035
Hotai Motor Co., Ltd.		1,000		11,569
HTC Corp.		20,000		47,493
Hua Nan Financial Holdings Co., Ltd.		446,946		207,505
Innolux Corp.		210,751		63,776
Inotera Memories, Inc. (a)		76,000		64,670
Inventec Corp.		45,000		29,523
Largan Precision Co., Ltd.		3,000		207,325
Lite-On Technology Corp.		210,910		204,508
MediaTek, Inc.		44,877		341,561
Mega Financial Holding Co., Ltd.		114,657		74,176
Merida Industry Co., Ltd.		6,000		32,332
Nan Ya Plastics Corp.		24,000		44,570
Novatek Microelectronics Corp.		22,000		86,401
Pegatron Corp.		20,000		43,840
Phison Electronics Corp.		5,000		35,391
Pou Chen Corp.		16,000		20,994
Powertech Technology, Inc.		23,000		45,654
President Chain Store Corp.		44,000		275,276
Quanta Computer, Inc.		62,000		100,040
Radiant Opto-Electronics Corp.		3,000		6,886
Realtek Semiconductor Corp.		11,000		26,356
Ruentex Development Co., Ltd.		25,536		33,313
Ruentex Industries, Ltd.		17,000		31,778
Shin Kong Financial Holding Co., Ltd.		67,936		14,788
Siliconware Precision Industries Co., Ltd.		10,300		16,400
Simplo Technology Co., Ltd.		7,000		22,376
SinoPac Financial Holdings Co., Ltd.		136,190		38,850
Standard Foods Corp.		22,699		56,735
Synnex Technology International Corp.		139,000		135,627
Taishin Financial Holding Co., Ltd.		66,496		23,078
Taiwan Business Bank (a)		146,047		36,371
Taiwan Cement Corp.		113,000		93,917
Taiwan Cooperative Financial Holding Co., Ltd.		810,466		339,267
Taiwan Fertilizer Co., Ltd.		10,000		13,106
Taiwan Mobile Co., Ltd.		169,542		516,157
Taiwan Semiconductor Manufacturing Co., Ltd.		523,495		2,279,045
Teco Electric and Machinery Co., Ltd.		13,000		10,409
Transcend Information, Inc.		35,000		91,317
Uni-President Enterprises Corp.		24,164		40,387
United Microelectronics Corp.		201,000		74,043
Wistron Corp.		90,681		51,349
WPG Holdings, Ltd.		76,000		72,768
Yuanta Financial Holding Co., Ltd.		76,466		28,285
Yulon Motor Co., Ltd.		7,000		6,436
Zhen Ding Technology Holding, Ltd.		4,000		9,231
				10,791,352
THAILAND — 2.3%
Advanced Info Service PCL		52,000		219,647
Airports of Thailand PCL		1,100		10,577
Bangkok Bank PCL NVDR		2,800		11,866

158

SPDR MSCI Emerging Markets Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Bangkok Dusit Medical Services PCL		229,887	$	142,462
Banpu PCL		27,200		12,094
BEC World PCL		39,300		33,310
BTS Group Holdings PCL		944,300		238,797
Bumrungrad Hospital PCL		20,100		117,857
Charoen Pokphand Foods PCL		28,700		14,595
CP ALL PCL		142,500		155,429
Delta Electronics Thailand PCL		93,200		198,132
Glow Energy PCL		32,900		67,656
Home Product Center PCL		127,359		24,067
IRPC PCL		97,500		11,651
Kasikornbank PCL		27,700		115,850
Krung Thai Bank PCL		46,100		21,394
PTT Exploration & Production PCL		28,400		45,183
PTT Global Chemical PCL		24,977		34,705
PTT PCL		32,800		222,404
Siam Cement PCL		1,450		18,374
Siam Commercial Bank PCL		14,600		48,484
Thai Oil PCL		31,800		58,324
				1,822,858
TURKEY — 0.7%
Akbank TAS		22,686		52,074
Anadolu Efes Biracilik Ve Malt Sanayii A/S		1,988		12,866
Arcelik A/S		2,378		11,381
BIM Birlesik Magazalar A/S		8,277		145,613
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		18,957		16,886
Eregli Demir ve Celik Fabrikalari TAS		9,560		9,957
Ford Otomotiv Sanayi A/S		2,328		24,151
Haci Omer Sabanci Holding A/S		8,061		22,867
KOC Holding A/S		8,386		31,402
Tofas Turk Otomobil Fabrikasi A/S		3,817		24,781
Tupras Turkiye Petrol Rafinerileri A/S (a)		988		23,559
Turk Hava Yollari AO (a)		7,600		19,242
Turk Telekomunikasyon A/S		2,920		5,462
Turkcell Iletisim Hizmetleri A/S		6,356		21,558
Turkiye Garanti Bankasi A/S		23,734		57,895
Turkiye Halk Bankasi A/S		8,061		28,694
Turkiye Is Bankasi		21,789		34,339
Turkiye Vakiflar Bankasi TAO Class D		11,926		15,649
Yapi ve Kredi Bankasi A/S		11,914		13,429
				571,805
UNITED ARAB EMIRATES — 1.2%
Abu Dhabi Commercial Bank PJSC		38,623		69,296
Aldar Properties PJSC		18,195		11,493
DP World, Ltd.		9,827		199,488
Dubai Financial Market PJSC		6,173		2,067
Dubai Islamic Bank PJSC		33,218		55,891
Emaar Properties PJSC		17,339		26,860
Emirates Telecommunications Group Co. PJSC		31,084		136,252
First Gulf Bank PJSC		61,303		211,131
National Bank of Abu Dhabi PJSC		94,248		204,251
				916,729
TOTAL COMMON STOCKS (Cost $89,859,299)				79,469,097
RIGHTS — 0.0% (d)
BRAZIL — 0.0% (d)
Banco Bradesco SA (expiring 2/5/16) (a)		1,113		582
Banco Bradesco SA (expiring 2/5/16) (a)		300		99
				681
HONG KONG — 0.0% (d)
GCL-Poly Energy Holdings, Ltd. (expiring 1/20/16) (a)		15,200		78
SOUTH KOREA — 0.0% (d)
BNK Financial Group, Inc. (expiring 1/14/16) (a)		872		989
TOTAL RIGHTS (Cost $0)				1,748
SHORT-TERM INVESTMENTS — 0.2%
UNITED STATES — 0.2%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f) (Cost $172,363)		172,363		172,363
TOTAL INVESTMENTS — 99.8%
(Cost $90,031,662)				79,643,208
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%				187,157
NET ASSETS — 100.0%			$	79,830,365

(a) Non-income producing security

(b) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.3% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Amount shown represents less than 0.05% of net assets.

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

REIT = Real Estate Investment Trust

159

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 1.5%
AGL Energy, Ltd.		87	$	1,144
Amcor, Ltd.		301		2,943
AMP, Ltd.		227		963
Aurizon Holdings, Ltd.		235		749
Australia & New Zealand Banking Group, Ltd.		191		3,881
BHP Billiton PLC		144		1,613
BHP Billiton, Ltd.		192		2,495
Brambles, Ltd.		418		3,519
Cochlear, Ltd.		19		1,321
Commonwealth Bank of Australia		92		5,725
CSL, Ltd.		193		14,787
Flight Centre Travel Group, Ltd.		24		697
Fortescue Metals Group, Ltd.		264		359
Insurance Australia Group, Ltd.		203		821
LendLease Group		85		882
Macquarie Group, Ltd.		20		1,204
Medibank Pvt, Ltd.		3,210		5,021
National Australia Bank, Ltd.		181		3,977
Newcrest Mining, Ltd. (a)		109		1,029
Orica, Ltd.		58		654
Origin Energy, Ltd.		124		424
QBE Insurance Group, Ltd.		110		1,008
REA Group, Ltd.		27		1,082
Santos, Ltd.		128		343
Scentre Group REIT		471		1,436
SEEK, Ltd.		73		817
South32, Ltd. (a)		192		149
Suncorp Group, Ltd.		84		742
Telstra Corp., Ltd.		2,662		10,865
Transurban Group (a) (b)		44		335
Transurban Group Stapled Security (b)		784		5,972
Wesfarmers, Ltd.		62		1,877
Westfield Corp.		106		733
Westpac Banking Corp.		210		5,127
Woodside Petroleum, Ltd.		32		669
Woolworths, Ltd.		333		5,936
				91,299
AUSTRIA — 0.1%
Erste Group Bank AG (a)		33		1,036
OMV AG		30		852
Raiffeisen Bank International AG (a)		32		473
Voestalpine AG		23		708
				3,069
BELGIUM — 0.3%
Ageas		26		1,209
Anheuser-Busch InBev SA		29		3,604
Colruyt SA		21		1,082
Delhaize Group		15		1,463
Groupe Bruxelles Lambert SA		10		856
KBC Groep NV		19		1,190
Proximus SADP		72		2,347
Solvay SA		8		855
UCB SA		48		4,340
Umicore SA		21		882
				17,828
CANADA — 3.5%
Agnico Eagle Mines, Ltd.		286		7,488
Agrium, Inc.		12		1,068
Alimentation Couche-Tard, Inc. Class B		96		4,209
Bank of Montreal		136		7,644
Bank of Nova Scotia		294		11,846
Barrick Gold Corp.		257		1,895
BCE, Inc.		158		6,081
Bombardier, Inc. Class B		295		285
Brookfield Asset Management, Inc. Class A		49		1,540
Canadian Imperial Bank of Commerce		81		5,317
Canadian National Railway Co.		190		10,580
Canadian Natural Resources, Ltd.		62		1,349
Canadian Oil Sands, Ltd.		120		714
Canadian Pacific Railway, Ltd.		7		891
Canadian Tire Corp., Ltd. Class A		11		936
Cenovus Energy, Inc.		42		529
CI Financial Corp.		40		881
Crescent Point Energy Corp.		25		290
Dollarama, Inc.		180		10,359
Eldorado Gold Corp.		467		1,378
Enbridge, Inc.		151		5,000
Encana Corp.		45		228
Fairfax Financial Holdings, Ltd.		12		5,675
First Capital Realty, Inc.		121		1,598
First Quantum Minerals, Ltd.		52		194
Franco-Nevada Corp.		241		10,982
Gildan Activewear, Inc.		52		1,473
Goldcorp, Inc.		910		10,475
Great-West Lifeco, Inc.		37		920
Husky Energy, Inc.		32		330
Imperial Oil, Ltd.		21		682
Intact Financial Corp.		167		10,661
Loblaw Cos., Ltd.		26		1,223
Magna International, Inc.		132		5,333
Manulife Financial Corp.		101		1,508
Metro, Inc.		75		2,092
Onex Corp.		18		1,099
Pembina Pipeline Corp.		8		174
Potash Corp. of Saskatchewan, Inc.		108		1,843
Power Corp. of Canada		39		812
Power Financial Corp.		33		756
Restaurant Brands International, Inc.		88		3,278
RioCan Real Estate Investment Trust		148		2,524
Rogers Communications, Inc. Class B		241		8,279
Royal Bank of Canada		258		13,772
Saputo, Inc.		56		1,334
Shaw Communications, Inc. Class B		363		6,219
Silver Wheaton Corp.		453		5,609
Smart Real Estate Investment Trust		103		2,239
Sun Life Financial, Inc.		32		994
Suncor Energy, Inc.		107		2,751
Teck Resources, Ltd. Class B		67		258
TELUS Corp.		258		7,106
Toronto-Dominion Bank		293		11,441
TransCanada Corp.		194		6,311
Yamana Gold, Inc.		252		466
				210,919
DENMARK — 1.2%
AP Moeller — Maersk A/S Class A		1		1,292
AP Moeller — Maersk A/S Class B		1		1,306
Carlsberg A/S Class B		10		892
Coloplast A/S Class B		62		5,027
Danske Bank A/S		52		1,402

160

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
DSV A/S		62	$	2,452
Novo Nordisk A/S Class B		727		42,320
Novozymes A/S Class B		93		4,475
Pandora A/S		34		4,316
TDC A/S		173		866
Tryg A/S		60		1,200
William Demant Holding A/S (a)		36		3,443
				68,991
FINLAND — 0.2%
Fortum Oyj		59		892
Kone Oyj Class B		100		4,255
Nokia Oyj		129		924
Orion Oyj Class B		35		1,216
Sampo Oyj Class A		24		1,225
Stora Enso Oyj Class R		103		939
UPM-Kymmene Oyj		59		1,104
Wartsila Oyj Abp		36		1,649
				12,204
FRANCE — 2.0%
Aeroports de Paris		25		2,911
Air Liquide SA		15		1,689
Airbus Group SE		177		11,921
Alcatel-Lucent (a)		267		1,059
Alstom SA (a)		27		826
Arkema SA		11		772
AXA SA		261		7,153
BNP Paribas SA		145		8,227
Bouygues SA		27		1,072
Bureau Veritas SA		56		1,119
Cap Gemini SA		14		1,302
Carrefour SA		62		1,795
Casino Guichard Perrachon SA		8		369
Christian Dior SE		5		851
Cie de Saint-Gobain		38		1,645
Cie Generale des Etablissements Michelin		17		1,623
CNP Assurances		48		649
Credit Agricole SA		127		1,501
Danone SA		26		1,759
Dassault Systemes		25		2,003
Electricite de France SA		27		398
Engie SA		160		2,837
Essilor International SA		15		1,875
Hermes International		8		2,709
Iliad SA		3		717
Kering		5		858
L’Oreal SA		8		1,350
Lagardere SCA		30		897
Legrand SA		16		907
LVMH Moet Hennessy Louis Vuitton SE		12		1,889
Natixis SA		158		895
Orange SA		213		3,583
Pernod Ricard SA		10		1,143
Peugeot SA (a)		81		1,426
Publicis Groupe SA		44		2,934
Renault SA		25		2,516
Rexel SA		44		587
Safran SA		16		1,101
Sanofi		63		5,379
Schneider Electric SE		26		1,484
SCOR SE		29		1,087
Societe BIC SA		8		1,318
Societe Generale SA		98		4,532
Sodexo SA		10		979
Suez Environnement Co.		51		956
Technip SA		11		546
TOTAL SA		260		11,655
Unibail-Rodamco SE		5		1,273
Valeo SA		23		3,562
Veolia Environnement SA		61		1,449
Vinci SA		37		2,377
Vivendi SA		119		2,567
				118,032
GERMANY — 1.9%
adidas AG		11		1,074
Allianz SE		45		7,995
BASF SE		77		5,915
Bayer AG		29		3,648
Bayerische Motoren Werke AG		31		3,288
Bayerische Motoren Werke AG Preference Shares		11		925
Beiersdorf AG		22		2,011
Brenntag AG		18		944
Commerzbank AG (a)		145		1,508
Continental AG		6		1,464
Daimler AG		94		7,922
Deutsche Bank AG		252		6,166
Deutsche Boerse AG		54		4,774
Deutsche Lufthansa AG (a)		41		649
Deutsche Post AG		81		2,284
Deutsche Telekom AG		283		5,131
E.ON SE		398		3,861
Fresenius Medical Care AG & Co. KGaA		10		844
Fresenius SE & Co. KGaA		21		1,505
Fuchs Petrolub SE Preference Shares		22		1,040
Hannover Rueck SE		12		1,377
HeidelbergCement AG		12		986
Henkel AG & Co. KGaA		10		963
Henkel AG & Co. KGaA Preference Shares		9		1,009
HUGO BOSS AG		10		832
Infineon Technologies AG		94		1,379
KS AG		29		744
Kabel Deutschland Holding AG		27		3,348
Lanxess AG		15		695
Linde AG		10		1,455
MAN SE		45		4,532
Merck KGaA		12		1,168
METRO AG		30		963
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		21		4,210
Porsche Automobil Holding SE Preference Shares		25		1,358
ProSiebenSat.1 Media SE		50		2,540
RWE AG		91		1,158
SAP SE		30		2,391
Siemens AG		51		4,979
Telefonica Deutschland Holding AG		324		1,721
ThyssenKrupp AG		37		737
TUI AG		59		1,053
United Internet AG		30		1,659
Volkswagen AG		5		773
Volkswagen AG Preference Shares		60		8,718
				113,696

161

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
HONG KONG — 2.1%
AIA Group, Ltd.		400	$	2,405
Bank of East Asia, Ltd.		1,223		4,553
BOC Hong Kong Holdings, Ltd.		1,000		3,058
Cheung Kong Infrastructure Holdings, Ltd.		1,000		9,264
Cheung Kong Property Holdings, Ltd.		1,000		6,503
CK Hutchison Holdings, Ltd.		500		6,748
CLP Holdings, Ltd.		2,000		16,993
Galaxy Entertainment Group, Ltd.		1,000		3,155
Hang Seng Bank, Ltd.		1,000		19,032
HK Electric Investments & HK Electric Investments, Ltd. (c)		3,331		2,794
HKT Trust & HKT, Ltd.		3,540		4,522
Hong Kong & China Gas Co., Ltd.		3,300		6,472
Hong Kong Exchanges and Clearing, Ltd.		302		7,735
Link REIT		1,000		5,987
MTR Corp., Ltd.		2,014		9,979
New World Development Co., Ltd.		1,054		1,042
Noble Group, Ltd.		1,000		282
Power Assets Holdings, Ltd.		1,000		9,200
Sands China, Ltd.		800		2,740
SJM Holdings, Ltd.		1,000		713
Yue Yuen Industrial Holdings, Ltd.		1,000		3,400
				126,577
IRELAND — 0.5%
Bank of Ireland (a)		2,748		1,009
CRH PLC		44		1,276
Experian PLC		60		1,062
James Hardie Industries PLC		109		1,385
Kerry Group PLC Class A		106		8,787
Shire PLC		192		13,295
XL Group PLC		32		1,254
				28,068
ISRAEL — 0.4%
Bank Hapoalim BM		308		1,591
Bank Leumi Le-Israel BM (a)		418		1,450
Bezeq The Israeli Telecommunication Corp., Ltd.		1,172		2,581
Israel Chemicals, Ltd.		122		496
Mizrahi Tefahot Bank, Ltd.		89		1,064
NICE-Systems, Ltd.		74		4,270
Teva Pharmaceutical Industries, Ltd.		188		12,296
				23,748
ITALY — 0.4%
Assicurazioni Generali SpA		123		2,261
Atlantia SpA		38		1,011
Banca Monte dei Paschi di Siena SpA (a)		715		957
Banco Popolare SC (a)		61		849
Enel SpA		939		3,970
Eni SpA		310		4,647
Intesa Sanpaolo SpA		1,159		3,888
Saipem SpA (a)		40		325
Snam SpA		185		971
Telecom Italia SpA (a) (b)		1,742		2,224
Telecom Italia SpA (b)		1,354		1,399
UniCredit SpA		390		2,175
Unione di Banche Italiane SpA		129		869
				25,546
JAPAN — 8.5%
Aeon Co., Ltd.		100		1,553
ANA Holdings, Inc.		2,000		5,819
Aozora Bank, Ltd.		1,000		3,516
Astellas Pharma, Inc.		600		8,636
Benesse Holdings, Inc.		100		2,901
Bridgestone Corp.		100		3,470
Canon, Inc.		700		21,385
Chubu Electric Power Co., Inc.		100		1,382
Chugoku Bank, Ltd.		200		2,700
Chugoku Electric Power Co., Inc.		100		1,330
Dai-ichi Life Insurance Co., Ltd.		100		1,692
Daiichi Sankyo Co., Ltd.		100		2,087
Eisai Co., Ltd.		100		6,703
Fuji Heavy Industries, Ltd.		200		8,358
FUJIFILM Holdings Corp.		100		4,223
Hitachi, Ltd.		1,000		5,748
Honda Motor Co., Ltd.		200		6,501
Hoya Corp.		100		4,141
Idemitsu Kosan Co., Ltd.		100		1,611
Inpex Corp.		100		985
Isetan Mitsukoshi Holdings, Ltd.		100		1,318
ITOCHU Corp.		300		3,596
Japan Airlines Co., Ltd.		200		7,242
Japan Exchange Group, Inc.		100		1,588
Japan Prime Realty Investment Corp.		1		3,433
Japan Real Estate Investment Corp.		1		4,880
Japan Retail Fund Investment Corp.		3		5,791
Japan Tobacco, Inc.		300		11,150
JFE Holdings, Inc.		100		1,596
JX Holdings, Inc.		700		2,958
Kakaku.com, Inc.		200		3,980
Kansai Electric Power Co., Inc. (a)		100		1,213
KDDI Corp.		300		7,866
Kirin Holdings Co., Ltd.		100		1,370
Kobe Steel, Ltd.		1,000		1,106
Komatsu, Ltd.		100		1,656
Kyushu Electric Power Co., Inc. (a)		100		1,103
Lawson, Inc.		100		8,188
M3, Inc.		300		6,290
Marubeni Corp.		1,000		5,196
McDonald’s Holdings Co., Japan, Ltd. (a)		100		2,178
Miraca Holdings, Inc.		100		4,447
Mitsubishi Chemical Holdings Corp.		300		1,931
Mitsubishi Corp.		300		5,058
Mitsubishi Motors Corp.		100		856
Mitsubishi Tanabe Pharma Corp.		300		5,227
Mitsubishi UFJ Financial Group, Inc.		2,000		12,587
Mitsui & Co., Ltd.		300		3,605
Mizuho Financial Group, Inc.		3,200		6,477
MS&AD Insurance Group Holdings, Inc.		100		2,968
Nagoya Railroad Co., Ltd.		1,000		4,198
Nikon Corp.		100		1,351
Nippon Building Fund, Inc.		1		4,797
Nippon Prologis REIT, Inc.		2		3,633
Nippon Steel & Sumitomo Metal Corp.		100		2,008
Nippon Telegraph & Telephone Corp.		400		16,080
Nissan Motor Co., Ltd.		400		4,255
Nissin Foods Holdings Co., Ltd.		100		5,345
Nitori Holdings Co., Ltd.		100		8,504
Nomura Holdings, Inc.		200		1,129
Nomura Real Estate Master Fund, Inc. (a)		4		4,968

162

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Nomura Research Institute, Ltd.		200	$	7,764
NTT DOCOMO, Inc.		868		17,924
Oracle Corp. Japan		100		4,697
Oriental Land Co., Ltd.		100		6,099
ORIX Corp.		100		1,426
Osaka Gas Co., Ltd.		1,000		3,644
Otsuka Corp.		100		4,954
Otsuka Holdings Co., Ltd.		400		14,355
Panasonic Corp.		200		2,062
Park24 Co., Ltd.		100		2,435
Recruit Holdings Co., Ltd.		166		4,913
Resona Holdings, Inc.		400		1,966
Ricoh Co., Ltd.		100		1,040
Santen Pharmaceutical Co., Ltd.		500		8,338
Secom Co., Ltd.		200		13,700
Sekisui House, Ltd.		100		1,701
Seven & i Holdings Co., Ltd.		100		4,614
Shionogi & Co., Ltd.		100		4,575
Showa Shell Sekiyu KK		200		1,643
SoftBank Group Corp.		100		5,103
Sony Corp.		200		4,991
Sumitomo Corp.		200		2,062
Sumitomo Electric Industries, Ltd.		100		1,433
Sumitomo Mitsui Financial Group, Inc.		200		7,658
Sumitomo Mitsui Trust Holdings, Inc.		1,000		3,832
Suntory Beverage & Food, Ltd.		200		8,845
Suzuken Co., Ltd.		100		3,845
T&D Holdings, Inc.		100		1,338
Takeda Pharmaceutical Co., Ltd.		489		24,654
Tobu Railway Co., Ltd.		1,000		4,971
Toho Co., Ltd.		100		2,793
Tohoku Electric Power Co., Inc.		100		1,264
Tokio Marine Holdings, Inc.		100		3,917
Tokyo Electric Power Co., Inc. (a)		300		1,743
Toshiba Corp. (a)		1,000		2,077
Toyo Suisan Kaisha, Ltd.		100		3,516
Toyota Motor Corp.		200		12,449
Unicharm Corp.		100		2,059
United Urban Investment Corp.		3		4,090
USS Co., Ltd.		300		4,564
West Japan Railway Co.		100		6,978
Yahoo Japan Corp.		400		1,643
Yamada Denki Co., Ltd.		300		1,304
Yamato Holdings Co., Ltd.		400		8,566
				511,408
LUXEMBOURG — 0.0% (d)
ArcelorMittal		144		610
RTL Group SA		12		1,004
Tenaris SA		46		547
				2,161
MACAU — 0.0% (d)
Wynn Macau, Ltd.		400		468
MEXICO — 0.0% (d)
Fresnillo PLC		280		2,922
NETHERLANDS — 0.9%
Aegon NV		278		1,579
Akzo Nobel NV		15		1,005
Altice NV Class A (a)		12		173
Altice NV Class B (a)		4		58
ASML Holding NV		78		6,995
Heineken Holding NV		16		1,234
Heineken NV		16		1,369
ING Groep NV		434		5,870
Koninklijke Ahold NV		90		1,904
Koninklijke DSM NV		14		704
Koninklijke KPN NV		337		1,278
Koninklijke Philips NV		56		1,433
Randstad Holding NV		18		1,125
Royal Dutch Shell PLC Class A		737		16,576
Royal Dutch Shell PLC Class B		439		9,984
				51,287
NEW ZEALAND — 0.1%
Auckland International Airport, Ltd.		1,039		4,090
Ryman Healthcare, Ltd.		147		855
				4,945
NORWAY — 0.1%
DNB ASA		94		1,166
Norsk Hydro ASA		195		730
Statoil ASA		118		1,649
Telenor ASA		45		754
Yara International ASA		23		995
				5,294
PORTUGAL — 0.0% (d)
EDP — Energias de Portugal SA		228		822
Galp Energia SGPS SA		60		699
Jeronimo Martins SGPS SA		72		938
				2,459
SINGAPORE — 0.7%
Oversea-Chinese Banking Corp., Ltd.		1,004		6,228
Singapore Airlines, Ltd.		1,000		7,895
Singapore Press Holdings, Ltd.		2,000		5,554
Singapore Telecommunications, Ltd.		6,842		17,700
StarHub, Ltd.		1,000		2,608
				39,985
SOUTH AFRICA — 0.0% (d)
Mondi PLC		113		2,222
SPAIN — 0.7%
ACS Actividades de Construccion y Servicios SA		26		763
Banco Bilbao Vizcaya Argentaria SA		455		3,331
Banco de Sabadell SA		405		719
Banco Popular Espanol SA		154		509
Banco Santander SA		1,861		9,215
CaixaBank SA		182		635
Endesa SA		152		3,059
Ferrovial SA		49		1,110
Gas Natural SDG SA		35		715
Iberdrola SA		565		4,020
Industria de Diseno Textil SA		295		10,155
Repsol SA		115		1,264
Telefonica SA		461		5,126
Zardoya Otis SA		64		750
				41,371
SWEDEN — 0.7%
Alfa Laval AB		76		1,397
Assa Abloy AB Class B		60		1,267
Atlas Copco AB Class A		181		4,474
Atlas Copco AB Class B		106		2,456

163

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Autoliv, Inc.		10	$	1,248
Boliden AB		74		1,254
Electrolux AB Series B		42		1,022
Hennes & Mauritz AB Class B		299		10,714
Investment AB Kinnevik Class B		25		777
Investor AB Class B		67		2,484
Nordea Bank AB		254		2,811
Sandvik AB		70		615
Skandinaviska Enskilda Banken AB Class A		116		1,230
Skanska AB Class B		48		938
SKF AB Class B		40		651
Svenska Cellulosa AB SCA Class B		36		1,053
Svenska Handelsbanken AB Class A		105		1,406
Swedbank AB Class A		67		1,487
Telefonaktiebolaget LM Ericsson Class B		170		1,660
TeliaSonera AB		174		871
Volvo AB Class B		108		1,013
				40,828
SWITZERLAND — 4.9%
ABB, Ltd. (a)		110		1,974
Actelion, Ltd. (a)		26		3,626
Adecco SA (a)		13		895
Baloise Holding AG		9		1,147
Barry Callebaut AG (a)		3		3,288
Cie Financiere Richemont SA		21		1,512
Credit Suisse Group AG (a)		161		3,489
EMS-Chemie Holding AG		3		1,322
Geberit AG		10		3,399
Givaudan SA (a)		4		7,285
Glencore PLC		5,033		6,712
Julius Baer Group, Ltd. (a)		104		5,055
Kuehne + Nagel International AG		82		11,288
LafargeHolcim, Ltd. (a)		14		703
Nestle SA		1,080		80,433
Novartis AG		277		24,019
Partners Group Holding AG		7		2,526
Roche Holding AG		248		68,479
Schindler Holding AG (b)		31		5,234
Schindler Holding AG (b)		19		3,189
SGS SA		2		3,818
Swatch Group AG (b)		8		2,799
Swatch Group AG (b)		13		883
Swiss Life Holding AG (a)		4		1,084
Swiss Prime Site AG (a)		74		5,803
Swiss Re AG		39		3,824
Swisscom AG		30		15,075
Syngenta AG		23		9,014
TE Connectivity, Ltd.		102		6,590
UBS Group AG		249		4,856
Wolseley PLC		69		3,754
Zurich Insurance Group AG (a)		13		3,356
				296,431
UNITED KINGDOM — 7.6%
Aberdeen Asset Management PLC		282		1,203
Admiral Group PLC		64		1,565
Aggreko PLC		70		943
Amec Foster Wheeler PLC		77		487
Anglo American PLC		525		2,317
ARM Holdings PLC		345		5,283
Associated British Foods PLC		21		1,034
AstraZeneca PLC		410		27,898
Auto Trader Group PLC (a) (c)		940		6,151
Aviva PLC		338		2,571
Babcock International Group PLC		12		180
BAE Systems PLC		1,094		8,056
Barclays PLC		2,251		7,263
BG Group PLC		190		2,758
BP PLC		3,489		18,204
British American Tobacco PLC		511		28,402
British Land Co. PLC		84		973
BT Group PLC		425		2,955
Bunzl PLC		87		2,417
Burberry Group PLC		128		2,255
Capita PLC		264		4,700
Centrica PLC		1,505		4,838
CNH Industrial NV		94		647
Cobham PLC		301		1,256
Compass Group PLC		932		16,141
Croda International PLC		40		1,793
Delphi Automotive PLC		107		9,173
Diageo PLC		660		18,060
Direct Line Insurance Group PLC		223		1,339
easyJet PLC		39		1,000
Fiat Chrysler Automobiles NV (a)		262		3,677
G4S PLC		140		465
GKN PLC		691		3,141
GlaxoSmithKline PLC		822		16,635
Hargreaves Lansdown PLC		73		1,620
HSBC Holdings PLC		2,634		20,817
ICAP PLC		156		1,172
IMI PLC		80		1,016
Imperial Tobacco Group PLC		259		13,691
Inmarsat PLC		540		9,049
International Consolidated Airlines Group SA		161		1,447
Intertek Group PLC		55		2,251
ITV PLC		1,074		4,379
J Sainsbury PLC		172		656
Johnson Matthey PLC		54		2,115
Kingfisher PLC		167		811
Land Securities Group PLC		63		1,093
Legal & General Group PLC		298		1,176
Liberty Global PLC Class A (a)		31		1,313
Liberty Global PLC Series C (a)		45		1,835
Lloyds Banking Group PLC		2,616		2,817
London Stock Exchange Group PLC		50		2,022
Marks & Spencer Group PLC		144		960
Merlin Entertainments PLC (c)		403		2,706
National Grid PLC		780		10,778
Next PLC		77		8,273
Old Mutual PLC		359		947
Pearson PLC		53		575
Pentair PLC		14		693
Persimmon PLC (a)		97		2,898
Petrofac, Ltd.		81		950
Prudential PLC		124		2,798
Randgold Resources, Ltd.		111		6,778
Reckitt Benckiser Group PLC		275		25,458
RELX NV		342		5,773
RELX PLC		385		6,792
Rexam PLC		100		891
Rio Tinto PLC		157		4,581
Rio Tinto, Ltd.		32		1,041
Rolls-Royce Holdings PLC (a)		486		4,119

164

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Royal Bank of Scotland Group PLC (a)		227	$	1,010
Royal Mail PLC		522		3,416
RSA Insurance Group PLC		141		886
SABMiller PLC		32		1,919
Sage Group PLC		300		2,669
Schroders PLC		30		1,316
Sky PLC		335		5,491
Smith & Nephew PLC		221		3,935
Smiths Group PLC		111		1,537
Sports Direct International PLC (a)		79		672
SSE PLC		226		5,090
Standard Chartered PLC		813		6,755
Standard Life PLC		135		775
Tate & Lyle PLC		130		1,148
Tesco PLC (a)		1,711		3,770
Travis Perkins PLC		39		1,134
Unilever NV		473		20,607
Unilever PLC		367		15,830
Vodafone Group PLC		2,669		8,694
Weir Group PLC		51		752
Whitbread PLC		41		2,660
William Hill PLC		224		1,307
Wm Morrison Supermarkets PLC		345		754
WPP PLC		76		1,751
				455,949
UNITED STATES — 61.2%
3M Co.		167		25,157
Abbott Laboratories		376		16,886
AbbVie, Inc.		52		3,080
Accenture PLC Class A		284		29,678
ACE, Ltd.		25		2,921
Activision Blizzard, Inc.		49		1,897
Adobe Systems, Inc. (a)		17		1,597
ADT Corp.		31		1,022
Advance Auto Parts, Inc.		19		2,860
AES Corp.		74		708
Aetna, Inc.		27		2,919
Aflac, Inc.		27		1,617
AGCO Corp.		19		862
Agilent Technologies, Inc.		18		753
Air Products & Chemicals, Inc.		9		1,171
Albemarle Corp.		21		1,176
Alcoa, Inc.		85		839
Alleghany Corp. (a)		19		9,081
Allergan PLC (a)		8		2,500
Allstate Corp.		39		2,422
Ally Financial, Inc. (a)		97		1,808
Alphabet, Inc. Class A (a)		68		52,905
Alphabet, Inc. Class C (a)		67		50,845
Altria Group, Inc.		297		17,288
Amazon.com, Inc. (a)		5		3,379
Ameren Corp.		27		1,167
American Capital Agency Corp.		548		9,502
American Electric Power Co., Inc.		36		2,098
American Express Co.		40		2,782
American International Group, Inc.		171		10,597
American Tower Corp. REIT		111		10,761
American Water Works Co., Inc.		49		2,928
Ameriprise Financial, Inc.		10		1,064
AmerisourceBergen Corp.		167		17,320
Amgen, Inc.		20		3,247
Amphenol Corp. Class A		72		3,761
Anadarko Petroleum Corp.		19		923
Analog Devices, Inc.		20		1,106
Annaly Capital Management, Inc.		1,355		12,710
Antero Resources Corp. (a)		18		392
Anthem, Inc.		30		4,183
Aon PLC		12		1,107
Apache Corp.		40		1,779
Apple, Inc.		1,101		115,891
Applied Materials, Inc.		52		971
Arch Capital Group, Ltd. (a)		200		13,950
Archer-Daniels-Midland Co.		71		2,604
Arrow Electronics, Inc. (a)		19		1,029
Assurant, Inc.		16		1,289
AT&T, Inc.		1,290		44,389
Automatic Data Processing, Inc.		391		33,126
AutoZone, Inc. (a)		31		22,999
AvalonBay Communities, Inc. REIT		101		18,597
Avnet, Inc.		24		1,028
Axis Capital Holdings, Ltd.		122		6,859
Baker Hughes, Inc.		27		1,246
Bank of America Corp.		922		15,517
Bank of New York Mellon Corp.		96		3,957
Baxalta, Inc.		253		9,875
Baxter International, Inc.		353		13,467
BB&T Corp.		58		2,193
Becton, Dickinson and Co.		126		19,415
Bed Bath & Beyond, Inc. (a)		84		4,053
Berkshire Hathaway, Inc. Class B (a)		187		24,691
Best Buy Co., Inc.		45		1,370
Biogen, Inc. (a)		56		17,156
BlackRock, Inc.		6		2,043
Boeing Co.		196		28,340
BorgWarner, Inc.		17		735
Boston Scientific Corp. (a)		77		1,420
Bristol-Myers Squibb Co.		237		16,303
Broadcom Corp. Class A		136		7,864
Brown-Forman Corp. Class B		33		3,276
Bunge, Ltd.		23		1,570
C.R. Bard, Inc.		60		11,366
CA, Inc.		86		2,456
Camden Property Trust		18		1,382
Cameron International Corp. (a)		16		1,011
Campbell Soup Co.		152		7,988
Capital One Financial Corp.		59		4,259
Cardinal Health, Inc.		87		7,766
CarMax, Inc. (a)		24		1,295
Carnival Corp.		25		1,362
Carnival PLC		26		1,482
Caterpillar, Inc.		43		2,922
CBS Corp. Class B, NVDR		122		5,750
CDK Global, Inc.		54		2,563
Celanese Corp. Series A		17		1,145
Celgene Corp. (a)		196		23,473
CenterPoint Energy, Inc.		47		863
CenturyLink, Inc.		52		1,308
Cerner Corp. (a)		100		6,017
CF Industries Holdings, Inc.		75		3,061
CH Robinson Worldwide, Inc.		45		2,791
Charles Schwab Corp.		39		1,284
Chesapeake Energy Corp.		554		2,493
Chevron Corp.		202		18,172

165

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Chicago Bridge & Iron Co. NV		25	$	975
Chipotle Mexican Grill, Inc. (a)		13		6,238
Chubb Corp.		147		19,498
Church & Dwight Co., Inc.		197		16,721
Cigna Corp.		17		2,488
Cimarex Energy Co.		8		715
Cisco Systems, Inc.		476		12,926
CIT Group, Inc.		25		992
Citigroup, Inc.		333		17,233
Citrix Systems, Inc. (a)		37		2,799
Clorox Co.		154		19,532
CME Group, Inc.		24		2,174
Coach, Inc.		96		3,142
Coca-Cola Co.		508		21,824
Coca-Cola Enterprises, Inc.		65		3,201
Cognizant Technology Solutions Corp. Class A (a)		22		1,320
Colgate-Palmolive Co.		279		18,587
Columbia Pipeline Group, Inc.		28		560
Comcast Corp. Class A		151		8,521
Comerica, Inc.		23		962
ConAgra Foods, Inc.		32		1,349
ConocoPhillips		191		8,918
Consolidated Edison, Inc.		379		24,358
Core Laboratories NV		11		1,196
Corning, Inc.		93		1,700
Costco Wholesale Corp.		109		17,603
Crown Castle International Corp. REIT		120		10,374
CSRA, Inc.		17		510
CSX Corp.		52		1,349
Cummins, Inc.		43		3,784
CVS Health Corp.		72		7,039
Danaher Corp.		26		2,415
Darden Restaurants, Inc.		22		1,400
DaVita HealthCare Partners, Inc. (a)		190		13,245
Deere & Co.		27		2,059
Delta Air Lines, Inc.		27		1,369
Devon Energy Corp.		25		800
Dick’s Sporting Goods, Inc.		28		990
Discover Financial Services		33		1,769
DISH Network Corp. Class A (a)		18		1,029
Dollar General Corp.		185		13,296
Dollar Tree, Inc. (a)		54		4,170
Dominion Resources, Inc.		249		16,842
Dover Corp.		12		736
Dow Chemical Co.		75		3,861
Dr. Pepper Snapple Group, Inc.		49		4,567
DTE Energy Co.		16		1,283
Duke Energy Corp.		248		17,705
E.I. du Pont de Nemours & Co.		241		16,051
Eastman Chemical Co.		40		2,700
Eaton Corp. PLC		24		1,249
Eaton Vance Corp.		32		1,038
eBay, Inc. (a)		145		3,985
Edison International		24		1,421
Edwards Lifesciences Corp. (a)		54		4,265
Eli Lilly & Co.		408		34,378
EMC Corp.		97		2,491
Emerson Electric Co.		161		7,701
Ensco PLC Class A		23		354
Entergy Corp.		18		1,230
EOG Resources, Inc.		21		1,487
EQT Corp.		13		678
Equity Residential REIT		118		9,628
Estee Lauder Cos., Inc. Class A		60		5,284
Everest Re Group, Ltd.		58		10,619
Eversource Energy		73		3,728
Exelon Corp.		76		2,111
Expeditors International of Washington, Inc.		48		2,165
Express Scripts Holding Co. (a)		167		14,597
Exxon Mobil Corp.		697		54,331
F5 Networks, Inc. (a)		18		1,745
Facebook, Inc. Class A (a)		128		13,396
Fastenal Co.		74		3,021
Federal Realty Investment Trust		81		11,834
FedEx Corp.		17		2,533
Fidelity National Information Services, Inc.		59		3,575
Fifth Third Bancorp		86		1,729
FirstEnergy Corp.		45		1,428
Fiserv, Inc. (a)		17		1,555
FleetCor Technologies, Inc. (a)		15		2,144
Flextronics International, Ltd. (a)		104		1,166
Flowserve Corp.		35		1,473
Fluor Corp.		43		2,030
FMC Corp.		33		1,291
FMC Technologies, Inc. (a)		55		1,596
Foot Locker, Inc.		36		2,343
Ford Motor Co.		533		7,510
Franklin Resources, Inc.		102		3,756
Freeport-McMoRan, Inc.		81		548
Frontier Communications Corp.		177		827
GameStop Corp. Class A		36		1,009
Gap, Inc.		79		1,951
Garmin, Ltd.		29		1,078
Gartner, Inc. (a)		100		9,070
General Dynamics Corp.		71		9,753
General Electric Co.		518		16,136
General Mills, Inc.		659		37,998
General Motors Co.		252		8,571
Genuine Parts Co.		67		5,755
Gilead Sciences, Inc.		345		34,911
Goldman Sachs Group, Inc.		42		7,570
H&R Block, Inc.		80		2,665
Halliburton Co.		36		1,225
Harris Corp.		27		2,346
Hartford Financial Services Group, Inc.		40		1,738
HCA Holdings, Inc. (a)		21		1,420
HCP, Inc. REIT		226		8,642
Helmerich & Payne, Inc.		26		1,392
Henry Schein, Inc. (a)		125		19,774
Hershey Co.		128		11,427
Hertz Global Holdings, Inc. (a)		37		527
Hess Corp.		30		1,454
Hewlett Packard Enterprise Co.		119		1,809
HollyFrontier Corp.		22		878
Home Depot, Inc.		392		51,842
Honeywell International, Inc.		179		18,539
Hormel Foods Corp.		11		870
Host Hotels & Resorts, Inc. REIT		49		752
HP, Inc.		878		10,396
Humana, Inc.		13		2,321
Illinois Tool Works, Inc.		118		10,936
Ingersoll-Rand PLC		18		995
Intel Corp.		1,347		46,404

166

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Intercontinental Exchange, Inc.		6	$	1,538
International Business Machines Corp.		144		19,817
International Flavors & Fragrances, Inc.		19		2,273
International Paper Co.		32		1,206
Interpublic Group of Cos., Inc.		100		2,328
Intuit, Inc.		23		2,219
Intuitive Surgical, Inc. (a)		1		546
Invesco, Ltd.		29		971
J.M. Smucker Co.		49		6,044
Jacobs Engineering Group, Inc. (a)		19		797
JB Hunt Transport Services, Inc.		68		4,988
Johnson & Johnson		946		97,173
Johnson Controls, Inc.		142		5,608
JPMorgan Chase & Co.		384		25,356
Juniper Networks, Inc.		41		1,132
Kellogg Co.		238		17,200
Keurig Green Mountain, Inc.		26		2,339
KeyCorp		83		1,095
Kimberly-Clark Corp.		184		23,423
Kinder Morgan, Inc.		43		642
KLA-Tencor Corp.		17		1,179
Kohl’s Corp.		22		1,048
Kraft Heinz Co.		24		1,746
Kroger Co.		112		4,685
L Brands, Inc.		18		1,725
L-3 Communications Holdings, Inc.		9		1,076
Laboratory Corp. of America Holdings (a)		66		8,160
Las Vegas Sands Corp.		97		4,252
Leucadia National Corp.		40		696
Liberty Interactive Corp. QVC Group Class A (a)		40		1,093
Liberty Media Corp. Class A (a)		33		1,295
Liberty Media Corp. Class C (a)		66		2,513
Lincoln National Corp.		22		1,106
Linear Technology Corp.		66		2,803
Lockheed Martin Corp.		78		16,938
Loews Corp.		27		1,037
Lowe’s Cos., Inc.		297		22,584
lululemon athletica, Inc. (a)		29		1,522
LyondellBasell Industries NV Class A		146		12,687
M&T Bank Corp.		17		2,060
Macy’s, Inc.		126		4,407
ManpowerGroup, Inc.		13		1,096
Marathon Oil Corp.		61		768
Marathon Petroleum Corp.		188		9,746
Marsh & McLennan Cos., Inc.		256		14,195
MasterCard, Inc. Class A		321		31,253
Mattel, Inc.		94		2,554
McCormick & Co., Inc.		171		14,631
McDonald’s Corp.		490		57,889
McKesson Corp.		54		10,650
Mead Johnson Nutrition Co.		48		3,790
Medtronic PLC		57		4,384
Merck & Co., Inc.		445		23,505
MetLife, Inc.		90		4,339
Mettler-Toledo International, Inc. (a)		9		3,052
MGM Resorts International (a)		41		932
Michael Kors Holdings, Ltd. (a)		68		2,724
Micron Technology, Inc. (a)		40		566
Microsoft Corp.		1,959		108,685
Molson Coors Brewing Co. Class B		16		1,503
Mondelez International, Inc. Class A		109		4,888
Monsanto Co.		115		11,330
Monster Beverage Corp. (a)		42		6,256
Morgan Stanley		106		3,372
Mosaic Co.		24		662
Motorola Solutions, Inc.		155		10,610
Murphy Oil Corp.		17		382
Mylan NV (a)		22		1,190
National Oilwell Varco, Inc.		26		871
Navient Corp.		70		801
NetApp, Inc.		29		769
New York Community Bancorp, Inc.		73		1,191
Newell Rubbermaid, Inc.		67		2,953
Newmont Mining Corp.		684		12,305
News Corp. Class A		63		842
NextEra Energy, Inc.		85		8,831
NIKE, Inc. Class B		370		23,125
Noble Energy, Inc.		15		494
Nordstrom, Inc.		139		6,924
Norfolk Southern Corp.		15		1,269
Northern Trust Corp.		18		1,298
Northrop Grumman Corp.		52		9,818
NRG Energy, Inc.		30		353
Nucor Corp.		21		846
NVIDIA Corp.		59		1,945
O’Reilly Automotive, Inc. (a)		63		15,965
Occidental Petroleum Corp.		52		3,516
Oceaneering International, Inc.		27		1,013
Omnicom Group, Inc.		65		4,918
ONEOK, Inc.		16		395
Oracle Corp.		833		30,429
PACCAR, Inc.		18		853
Parker-Hannifin Corp.		9		873
PartnerRe, Ltd.		64		8,943
Patterson Cos., Inc.		106		4,792
Paychex, Inc.		498		26,339
PayPal Holdings, Inc. (a)		145		5,249
People’s United Financial, Inc.		407		6,573
Pepco Holdings, Inc.		100		2,601
PepsiCo, Inc.		605		60,452
Perrigo Co. PLC		25		3,617
Pfizer, Inc.		624		20,143
PG&E Corp.		285		15,159
Philip Morris International, Inc.		63		5,538
Phillips 66		68		5,562
Pioneer Natural Resources Co.		5		627
PNC Financial Services Group, Inc.		54		5,147
Polaris Industries, Inc.		19		1,633
PPG Industries, Inc.		62		6,127
PPL Corp.		44		1,502
Praxair, Inc.		66		6,758
Precision Castparts Corp.		6		1,392
Priceline Group, Inc. (a)		13		16,574
Principal Financial Group, Inc.		22		990
Procter & Gamble Co.		958		76,075
Progressive Corp.		151		4,802
Prologis, Inc. REIT		27		1,159
Prudential Financial, Inc.		35		2,849
Public Service Enterprise Group, Inc.		36		1,393
Public Storage REIT		78		19,321
PulteGroup, Inc.		54		962
QUALCOMM, Inc.		461		23,043
Quest Diagnostics, Inc.		18		1,281

167

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Ralph Lauren Corp.		15	$	1,672
Range Resources Corp.		38		935
Raytheon Co.		77		9,589
Realty Income Corp. REIT		100		5,163
Regions Financial Corp.		136		1,306
RenaissanceRe Holdings, Ltd.		60		6,791
Republic Services, Inc.		337		14,825
ResMed, Inc.		34		1,825
Reynolds American, Inc.		32		1,477
Robert Half International, Inc.		38		1,791
Rockwell Automation, Inc.		37		3,797
Rockwell Collins, Inc.		38		3,507
Ross Stores, Inc.		196		10,547
Royal Caribbean Cruises, Ltd.		19		1,923
SanDisk Corp.		12		912
SBA Communications Corp. Class A (a)		116		12,188
SCANA Corp.		30		1,815
Schlumberger, Ltd.		100		6,975
Scripps Networks Interactive, Inc. Class A		21		1,159
Seagate Technology PLC		24		880
SEI Investments Co.		39		2,044
Sempra Energy		22		2,068
Sherwin-Williams Co.		21		5,452
Simon Property Group, Inc. REIT		7		1,361
Skyworks Solutions, Inc.		41		3,150
Southern Co.		652		30,507
Southwest Airlines Co.		6		258
Southwestern Energy Co. (a)		78		555
Spectra Energy Corp.		52		1,245
St. Jude Medical, Inc.		66		4,077
Stanley Black & Decker, Inc.		12		1,281
Staples, Inc.		93		881
Starbucks Corp.		548		32,896
Starwood Hotels & Resorts Worldwide, Inc.		13		901
State Street Corp. (e)		36		2,389
Stericycle, Inc. (a)		5		603
Stryker Corp.		113		10,502
SunTrust Banks, Inc.		53		2,271
Symantec Corp.		46		966
Synchrony Financial (a)		32		973
Synopsys, Inc. (a)		194		8,848
Sysco Corp.		113		4,633
T Rowe Price Group, Inc.		67		4,790
Target Corp.		266		19,314
TD Ameritrade Holding Corp.		61		2,117
Teradata Corp. (a)		41		1,083
Tesoro Corp.		21		2,213
Texas Instruments, Inc.		238		13,045
Textron, Inc.		28		1,176
Thermo Fisher Scientific, Inc.		13		1,844
Thomson Reuters Corp.		150		5,659
Tiffany & Co.		29		2,212
Time Warner Cable, Inc.		14		2,598
Time Warner, Inc.		61		3,945
TJX Cos., Inc.		448		31,768
Tractor Supply Co.		39		3,334
Transocean, Ltd.		28		350
Travelers Cos., Inc.		125		14,107
TripAdvisor, Inc. (a)		28		2,387
Twenty-First Century Fox, Inc. Class A		65		1,765
Twenty-First Century Fox, Inc. Class B		130		3,540
Tyco International PLC		24		765
Tyson Foods, Inc. Class A		28		1,493
UDR, Inc.		200		7,514
Ulta Salon Cosmetics & Fragrance, Inc. (a)		15		2,775
Under Armour, Inc. Class A (a)		34		2,741
Union Pacific Corp.		229		17,908
United Parcel Service, Inc. Class B		137		13,183
United Technologies Corp.		239		22,961
UnitedHealth Group, Inc.		317		37,292
Universal Health Services, Inc. Class B		12		1,434
Unum Group		30		999
US Bancorp		189		8,065
Valero Energy Corp.		81		5,728
Varian Medical Systems, Inc. (a)		145		11,716
Ventas, Inc. REIT		161		9,085
Verizon Communications, Inc.		770		35,589
VF Corp.		200		12,450
Visa, Inc. Class A		577		44,746
Voya Financial, Inc.		28		1,033
Wabtec Corp.		22		1,565
Wal-Mart Stores, Inc.		605		37,086
Walgreens Boots Alliance, Inc.		44		3,747
Walt Disney Co.		358		37,619
Waste Management, Inc.		329		17,559
Waters Corp. (a)		21		2,826
Weatherford International PLC (a)		48		403
WEC Energy Group, Inc.		194		9,954
Wells Fargo & Co.		582		31,638
Welltower, Inc. REIT		218		14,831
Western Digital Corp.		13		781
Western Union Co.		68		1,218
Westlake Chemical Corp.		13		706
WestRock Co.		22		1,004
Weyerhaeuser Co. REIT		34		1,019
Whirlpool Corp.		7		1,028
Whiting Petroleum Corp. (a)		14		132
Whole Foods Market, Inc.		100		3,350
Williams Cos., Inc.		22		565
Willis Group Holdings PLC		32		1,554
WR Berkley Corp.		139		7,610
WW Grainger, Inc.		16		3,241
Xcel Energy, Inc.		338		12,138
Xerox Corp.		123		1,307
Xilinx, Inc.		57		2,677
Yahoo!, Inc. (a)		143		4,756
Yum! Brands, Inc.		128		9,350
Zimmer Biomet Holdings, Inc.		10		1,026
Zoetis, Inc.		102		4,888
				3,670,198
TOTAL COMMON STOCKS
(Cost $5,974,958)				5,967,905
RIGHTS — 0.0% (d)
ITALY — 0.0% (d)
UBI Banca (expiring 1/12/16) (a)		129		6
SPAIN — 0.0% (d)
Repsol SA (expiring 1/14/16) (a)		115		58
TOTAL RIGHTS (Cost $58)				64

168

SPDR MSCI World Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SHORT-TERM INVESTMENTS — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g) (Cost $4,277)		4,277	$	4,277
TOTAL INVESTMENTS — 99.6%
(Cost $5,979,576)				5,972,529
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%				24,036
NET ASSETS — 100.0%			$	5,996,565

(a) Non-income producing security

(b) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.2% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Amount shown represents less than 0.05% of net assets.

(e) Affiliated issuer (see accompanying Notes to Schedules of Investments).

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown is the annualized seven-day yield at December 31, 2015.

NVDR = Non Voting Depositary Receipt

REIT = Real Estate Investment Trust

169

SPDR MSCI Australia Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AIRLINES — 0.1%
Qantas Airways, Ltd.		1,930	$	5,743
BANKS — 21.4%
Australia & New Zealand Banking Group, Ltd.		21,044		427,624
Bank of Queensland, Ltd.		1,369		13,884
Bendigo & Adelaide Bank, Ltd.		8,566		74,475
Commonwealth Bank of Australia		8,540		531,422
National Australia Bank, Ltd.		18,380		403,846
Westpac Banking Corp.		19,325		471,850
				1,923,101
BEVERAGES — 0.6%
Coca-Cola Amatil, Ltd.		7,246		49,028
Treasury Wine Estates, Ltd.		1,351		8,158
				57,186
BIOTECHNOLOGY — 5.7%
CSL, Ltd.		6,631		508,056
CAPITAL MARKETS — 1.3%
Macquarie Group, Ltd.		1,391		83,765
Platinum Asset Management, Ltd.		5,335		31,362
				115,127
CHEMICALS — 1.2%
Incitec Pivot, Ltd.		11,321		32,617
Orica, Ltd.		6,541		73,763
				106,380
COMMERCIAL SERVICES & SUPPLIES — 3.2%
Brambles, Ltd.		34,080		286,877
CONSTRUCTION & ENGINEERING — 0.1%
CIMIC Group, Ltd.		451		7,973
CONSTRUCTION MATERIALS — 0.6%
Boral, Ltd.		9,245		39,752
James Hardie Industries PLC		1,344		17,082
				56,834
CONTAINERS & PACKAGING — 3.6%
Amcor, Ltd.		32,840		321,118
DIVERSIFIED FINANCIAL SERVICES — 1.6%
ASX, Ltd.		4,310		133,144
Challenger, Ltd.		1,764		11,191
				144,335
DIVERSIFIED TELECOMMUNICATION SERVICES — 5.7%
Telstra Corp., Ltd.		117,781		480,730
TPG Telecom, Ltd.		4,590		33,027
				513,757
ELECTRIC UTILITIES — 0.5%
AusNet Services		44,129		47,678
FOOD & STAPLES RETAILING — 13.0%
Wesfarmers, Ltd.		22,034		667,043
Woolworths, Ltd.		28,248		503,520
				1,170,563
GAS UTILITIES — 0.8%
APA Group		10,830		68,393
HEALTH CARE EQUIPMENT & SUPPLIES — 1.2%
Cochlear, Ltd.		1,571		109,246
HEALTH CARE PROVIDERS & SERVICES — 4.0%
Healthscope, Ltd.		29,664		57,408
Ramsay Health Care, Ltd.		3,229		159,609
Sonic Healthcare, Ltd.		10,665		138,659
				355,676
HOTELS, RESTAURANTS & LEISURE — 1.8%
Aristocrat Leisure, Ltd.		7,735		57,458
Crown Resorts, Ltd.		4,533		41,225
Flight Centre Travel Group, Ltd.		992		28,790
Tabcorp Holdings, Ltd.		2,187		7,494
Tatts Group, Ltd.		8,893		28,403
				163,370
INSURANCE — 5.1%
AMP, Ltd.		17,194		72,930
Insurance Australia Group, Ltd.		26,306		106,412
Medibank Pvt, Ltd.		41,795		65,377
QBE Insurance Group, Ltd.		7,167		65,649
Suncorp Group, Ltd.		16,844		148,774
				459,142
IT SERVICES — 0.1%
Computershare, Ltd.		1,228		10,382
MEDIA — 0.5%
REA Group, Ltd.		1,112		44,570
METALS & MINING — 7.1%
Alumina, Ltd.		7,794		6,550
BHP Billiton, Ltd.		19,428		252,448
Fortescue Metals Group, Ltd.		19,581		26,640
Iluka Resources, Ltd.		1,268		5,655
Newcrest Mining, Ltd. (a)		4,228		39,897
Rio Tinto, Ltd.		8,262		268,753
South32, Ltd. (a)		46,859		36,308
				636,251
MULTI-UTILITIES — 1.8%
AGL Energy, Ltd.		8,147		107,166
DUET Group		32,283		53,552
				160,718
MULTILINE RETAIL — 0.3%
Harvey Norman Holdings, Ltd.		7,742		23,545
OIL, GAS & CONSUMABLE FUELS — 4.1%
Caltex Australia, Ltd.		1,148		31,488
Oil Search, Ltd.		2,495		12,162
Origin Energy, Ltd.		10,316		35,275
Santos, Ltd.		9,969		26,691
Woodside Petroleum, Ltd.		12,727		265,934
				371,550
PROFESSIONAL SERVICES — 0.6%
SEEK, Ltd.		4,697		52,558
REAL ESTATE INVESTMENT TRUSTS (REITS) — 9.7%
Dexus Property Group REIT		7,601		41,476
Goodman Group REIT		17,446		79,584
GPT Group REIT		40,996		142,571
Mirvac Group REIT		26,055		37,533
Scentre Group REIT		52,548		160,189
Stockland REIT		19,733		58,863
Vicinity Centres REIT		41,412		84,362
Westfield Corp. REIT		38,895		269,115
				873,693

170

SPDR MSCI Australia Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.1%
LendLease Group		9,713	$	100,771
ROAD & RAIL — 0.6%
Asciano, Ltd.		1,584		10,072
Aurizon Holdings, Ltd.		13,331		42,482
				52,554
TRANSPORTATION INFRASTRUCTURE — 2.3%
Sydney Airport		13,388		61,852
Transurban Group (a) (b)		1,079		8,219
Transurban Group Stapled Security (b)		18,348		139,765
				209,836
TOTAL COMMON STOCKS (Cost $9,582,473)				8,956,983
SHORT-TERM INVESTMENT — 2.7%
UNITED STATES — 2.7%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d) (Cost $245,837)		245,837		245,837
TOTAL INVESTMENTS — 102.4% (Cost $9,828,310)				9,202,820
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.4)%				(219,617	)
NET ASSETS — 100.0%			$	8,983,203

(a) Non-income producing security

(b) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

171

SPDR MSCI Canada Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AEROSPACE & DEFENSE — 0.4%
Bombardier, Inc. Class B		24,337	$	23,477
CAE, Inc.		1,532		16,929
				40,406
AUTO COMPONENTS — 3.3%
Linamar Corp.		1,660		89,303
Magna International, Inc.		6,790		274,318
				363,621
BANKS — 18.0%
Bank of Montreal		5,484		308,250
Bank of Nova Scotia		8,810		354,975
Canadian Imperial Bank of Commerce		5,957		391,058
National Bank of Canada		2,849		82,675
Royal Bank of Canada		8,046		429,495
Toronto-Dominion Bank		10,914		426,157
				1,992,610
CAPITAL MARKETS — 2.2%
CI Financial Corp.		10,853		239,077
IGM Financial, Inc.		323		8,217
				247,294
CHEMICALS — 3.4%
Agrium, Inc.		674		60,005
Methanex Corp.		2,515		82,741
Potash Corp. of Saskatchewan, Inc.		13,352		227,804
				370,550
CONSTRUCTION & ENGINEERING — 0.1%
SNC-Lavalin Group, Inc.		544		16,103
CONTAINERS & PACKAGING — 1.4%
CCL Industries, Inc. Class B		988		159,584
DIVERSIFIED FINANCIAL SERVICES — 0.8%
Element Financial Corp.		357		4,292
Onex Corp.		1,317		80,417
				84,709
DIVERSIFIED TELECOMMUNICATION SERVICES — 3.3%
BCE, Inc.		3,138		120,767
TELUS Corp.		8,880		244,582
				365,349
ELECTRIC UTILITIES — 1.2%
Fortis, Inc.		5,087		136,999
FOOD & STAPLES RETAILING — 8.0%
Alimentation Couche-Tard, Inc. Class B		6,546		287,033
Empire Co., Ltd.		3,865		71,618
George Weston, Ltd.		1,178		90,689
Jean Coutu Group PJC, Inc. Class A		3,623		46,712
Loblaw Cos., Ltd.		2,387		112,279
Metro, Inc.		10,038		279,945
				888,276
FOOD PRODUCTS — 2.1%
Saputo, Inc.		9,670		230,420
HOTELS, RESTAURANTS & LEISURE — 0.2%
Restaurant Brands International, Inc.		526		19,596
INSURANCE — 10.7%
Fairfax Financial Holdings, Ltd.		277		130,994
Great-West Lifeco, Inc.		12,939		321,636
Industrial Alliance Insurance & Financial Services, Inc.		578		18,363
Intact Financial Corp.		5,203		332,159
Manulife Financial Corp.		8,549		127,641
Power Corp. of Canada		2,805		58,438
Power Financial Corp.		3,847		88,095
Sun Life Financial, Inc.		3,526		109,529
				1,186,855
IT SERVICES — 2.2%
CGI Group, Inc. Class A (a)		5,973		238,215
MEDIA — 3.9%
Shaw Communications, Inc. Class B		16,258		278,555
Thomson Reuters Corp.		3,919		147,862
				426,417
METALS & MINING — 3.6%
Agnico Eagle Mines, Ltd.		1,378		36,079
Barrick Gold Corp.		10,224		75,368
Eldorado Gold Corp.		4,315		12,736
First Quantum Minerals, Ltd.		10,989		40,978
Franco-Nevada Corp.		1,508		68,718
Goldcorp, Inc.		5,249		60,422
Kinross Gold Corp. (a)		8,152		14,730
Silver Wheaton Corp.		1,364		16,889
Teck Resources, Ltd. Class B		12,321		47,365
Turquoise Hill Resources, Ltd. (a)		3,054		7,717
Yamana Gold, Inc.		9,764		18,065
				399,067
MULTI-UTILITIES — 0.8%
Atco, Ltd. Class I		1,039		26,702
Canadian Utilities, Ltd. Class A		2,839		65,278
				91,980
MULTILINE RETAIL — 3.1%
Canadian Tire Corp., Ltd. Class A		1,017		86,508
Dollarama, Inc.		4,374		251,715
				338,223
OIL, GAS & CONSUMABLE FUELS — 16.2%
AltaGas, Ltd.		1,377		30,631
ARC Resources, Ltd.		1,115		13,405
Cameco Corp.		3,120		38,340
Canadian Natural Resources, Ltd.		5,264		114,519
Canadian Oil Sands, Ltd.		3,846		22,897
Cenovus Energy, Inc.		5,782		72,842
Crescent Point Energy Corp.		2,599		30,160
Enbridge, Inc.		4,123		136,533
Encana Corp.		5,050		25,557
Husky Energy, Inc.		5,508		56,745
Imperial Oil, Ltd.		11,157		362,074
Inter Pipeline, Ltd.		1,562		24,975
Keyera Corp.		5,425		157,232
MEG Energy Corp. (a)		711		4,105
Pembina Pipeline Corp.		3,299		71,604
Peyto Exploration & Development Corp.		3,848		68,893
PrairieSky Royalty, Ltd.		6,608		104,274
Seven Generations Energy, Ltd. Class A (a)		383		3,717
Suncor Energy, Inc.		10,210		262,545
Tourmaline Oil Corp. (a)		587		9,445
TransCanada Corp.		5,208		169,426
Veresen, Inc.		638		4,069
Vermilion Energy, Inc.		345		9,341
				1,793,329

172

SPDR MSCI Canada Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
PAPER & FOREST PRODUCTS — 0.1%
West Fraser Timber Co., Ltd.		292	$	11,042
PHARMACEUTICALS — 0.5%
Valeant Pharmaceuticals International, Inc. (a)		586		59,296
REAL ESTATE INVESTMENT TRUSTS (REITS) — 2.2%
H&R REIT		4,778		68,965
RioCan REIT		4,754		81,076
Smart REIT		4,467		97,083
				247,124
REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.4%
Brookfield Asset Management, Inc. Class A		4,865		152,874
First Capital Realty, Inc.		8,157		107,754
				260,628
ROAD & RAIL — 5.1%
Canadian National Railway Co.		6,356		353,924
Canadian Pacific Railway, Ltd.		1,647		209,542
				563,466
SOFTWARE — 0.7%
Constellation Software, Inc.		96		39,868
Open Text Corp.		748		35,723
				75,591
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.2%
BlackBerry, Ltd. (a)		1,842		17,026
TEXTILES, APPAREL & LUXURY GOODS — 2.1%
Gildan Activewear, Inc.		8,030		227,414
TRADING COMPANIES & DISTRIBUTORS — 0.6%
Finning International, Inc.		5,135		69,053
WIRELESS TELECOMMUNICATION SERVICES — 0.9%
Rogers Communications, Inc. Class B		2,885		99,109
TOTAL COMMON STOCKS (Cost $12,379,390)				11,019,352
SHORT-TERM INVESTMENT — 1.3%
UNITED STATES — 1.3%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (b) (c) (Cost $150,366)		150,366		150,366
TOTAL INVESTMENTS — 101.0% (Cost $12,529,756)				11,169,718
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%				(113,361	)
NET ASSETS — 100.0%			$	11,056,357

(a) Non-income producing security

(b) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(c) The rate shown is the annualized seven-day yield at December 31, 2015.

173

SPDR MSCI Germany Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.8%
AIR FREIGHT & LOGISTICS — 3.4%
Deutsche Post AG		12,637	$	356,299
AIRLINES — 1.0%
Deutsche Lufthansa AG (a)		6,542		103,507
AUTO COMPONENTS — 2.4%
Continental AG		1,044		254,662
AUTOMOBILES — 11.3%
Bayerische Motoren Werke AG		1,180		125,146
Bayerische Motoren Werke AG Preference Shares		1,609		135,302
Daimler AG		4,466		376,373
Porsche Automobil Holding SE Preference Shares		2,588		140,595
Volkswagen AG		365		56,422
Volkswagen AG Preference Shares		2,349		341,292
				1,175,130
CAPITAL MARKETS — 2.8%
Deutsche Bank AG		11,779		288,219
CHEMICALS — 10.7%
BASF SE		5,916		454,486
Evonik Industries AG		3,304		109,881
Fuchs Petrolub SE Preference Shares		1,781		84,160
KS AG		3,609		92,601
Lanxess AG		331		15,346
Linde AG		1,094		159,128
Symrise AG		3,044		202,800
				1,118,402
COMMERCIAL BANKS — 0.9%
Commerzbank AG (a)		8,859		92,116
CONSTRUCTION MATERIALS — 0.7%
HeidelbergCement AG		928		76,232
DIVERSIFIED FINANCIAL SERVICES — 2.7%
Deutsche Boerse AG		3,179		281,068
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.8%
Deutsche Telekom AG		14,588		264,485
Telefonica Deutschland Holding AG		4,601		24,446
				288,931
ELECTRICAL EQUIPMENT — 0.1%
OSRAM Licht AG		231		9,734
FOOD & STAPLES RETAILING — 0.5%
METRO AG		1,476		47,396
HEALTH CARE PROVIDERS & SERVICES — 5.4%
Fresenius Medical Care AG & Co. KGaA		4,148		350,249
Fresenius SE & Co. KGaA		2,901		207,895
				558,144
HOUSEHOLD PRODUCTS — 3.7%
Henkel AG & Co. KGaA		758		72,971
Henkel AG & Co. KGaA Preference Shares		2,790		312,776
				385,747
INDUSTRIAL CONGLOMERATES — 4.7%
Siemens AG		5,038		491,893
INSURANCE — 10.5%
Allianz SE		2,653		471,344
Hannover Rueck SE		2,464		282,787
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		1,714		343,617
				1,097,748
INTERNET & CATALOG RETAIL — 0.6%
Zalando SE (a) (b)		1,661		65,678
INTERNET SOFTWARE & SERVICES — 1.6%
United Internet AG		3,064		169,450
LIFE SCIENCES TOOLS & SERVICES — 0.4%
QIAGEN NV (a)		1,652		45,071
MACHINERY — 2.9%
GEA Group AG		3,093		125,661
MAN SE		1,766		177,836
				303,497
MEDIA — 4.4%
Axel Springer SE		591		32,961
Kabel Deutschland Holding AG		670		83,081
ProSiebenSat.1 Media SE		3,661		185,982
RTL Group SA (c)		1,230		102,950
RTL Group SA (c)		702		58,871
				463,845
METALS & MINING — 0.3%
ThyssenKrupp AG		1,364		27,175
MULTI-UTILITIES — 3.4%
E.ON SE		25,321		245,658
RWE AG		8,850		112,577
				358,235
PERSONAL PRODUCTS — 2.9%
Beiersdorf AG		3,262		298,222
PHARMACEUTICALS — 6.8%
Bayer AG		3,141		395,118
Merck KGaA		3,181		309,511
				704,629
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.6%
Deutsche Wohnen AG		1,337		37,203
Vonovia SE		4,080		126,536
				163,739
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.2%
Infineon Technologies AG		15,920		233,554
SOFTWARE — 4.0%
SAP SE		5,179		412,832
TEXTILES, APPAREL & LUXURY GOODS — 4.5%
adidas AG		2,689		262,633
HUGO BOSS AG		2,419		201,286
				463,919
TRADING COMPANIES & DISTRIBUTORS — 0.2%
Brenntag AG		334		17,517
TRANSPORTATION INFRASTRUCTURE — 0.4%
Fraport AG Frankfurt Airport Services Worldwide		713		45,651
TOTAL COMMON STOCKS (Cost $11,132,923)				10,398,242

174

SPDR MSCI Germany Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SHORT-TERM INVESTMENT — 0.0% (d)
UNITED STATES — 0.0% (d)
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f) (Cost $474)		474	$	474
TOTAL INVESTMENTS — 99.8% (Cost $11,133,397)				10,398,716
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%				18,171
NET ASSETS — 100.0%			$	10,416,887

(a) Non-income producing security

(b) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.6% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Amount is less than 0.05% of net assets.

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

175

SPDR MSCI Japan Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.8%
AIR FREIGHT & LOGISTICS — 0.3%
Yamato Holdings Co., Ltd.		1,600	$	34,262
AIRLINES — 1.2%
ANA Holdings, Inc.		17,000		49,462
Japan Airlines Co., Ltd.		3,100		112,254
				161,716
AUTO COMPONENTS — 4.8%
Aisin Seiki Co., Ltd.		700		30,492
Bridgestone Corp.		8,600		298,403
Denso Corp.		1,600		77,383
Koito Manufacturing Co., Ltd.		1,100		45,812
NGK Spark Plug Co., Ltd.		1,700		45,434
NHK Spring Co., Ltd.		400		4,063
NOK Corp.		200		4,752
Stanley Electric Co., Ltd.		200		4,442
Sumitomo Electric Industries, Ltd.		3,400		48,727
Sumitomo Rubber Industries, Ltd.		2,400		31,543
Toyoda Gosei Co., Ltd.		200		4,602
Toyota Industries Corp.		600		32,570
Yokohama Rubber Co., Ltd.		200		3,111
				631,334
AUTOMOBILES — 8.8%
Daihatsu Motor Co., Ltd.		2,100		28,647
Fuji Heavy Industries, Ltd.		6,500		271,628
Honda Motor Co., Ltd.		5,300		172,268
Isuzu Motors, Ltd.		7,600		83,016
Mazda Motor Corp.		900		18,884
Mitsubishi Motors Corp.		10,000		85,623
Nissan Motor Co., Ltd.		11,700		124,445
Suzuki Motor Corp.		500		15,391
Toyota Motor Corp.		5,400		336,134
Yamaha Motor Co., Ltd.		400		9,124
				1,145,160
BANKS — 7.3%
Aozora Bank, Ltd.		15,000		52,745
Bank of Kyoto, Ltd.		1,000		9,394
Bank of Yokohama, Ltd.		5,000		31,011
Chiba Bank, Ltd.		3,000		21,547
Chugoku Bank, Ltd.		500		6,750
Fukuoka Financial Group, Inc.		2,000		10,059
Gunma Bank, Ltd.		2,000		11,754
Hachijuni Bank, Ltd.		1,000		6,193
Hiroshima Bank, Ltd.		1,000		5,761
Hokuhoku Financial Group, Inc.		3,000		6,185
Iyo Bank, Ltd.		600		5,905
Japan Post Bank Co., Ltd. (a)		1,000		14,548
Joyo Bank, Ltd.		1,000		4,780
Kyushu Financial Group, Inc. (a)		1,000		7,041
Mitsubishi UFJ Financial Group, Inc.		36,800		231,608
Mizuho Financial Group, Inc.		90,100		182,380
Resona Holdings, Inc.		16,600		81,582
Seven Bank, Ltd.		3,300		14,621
Shinsei Bank, Ltd.		4,000		7,448
Shizuoka Bank, Ltd.		1,000		9,826
Sumitomo Mitsui Financial Group, Inc.		4,900		187,617
Sumitomo Mitsui Trust Holdings, Inc.		8,000		30,658
Suruga Bank, Ltd.		200		4,178
Yamaguchi Financial Group, Inc.		1,000		11,971
				955,562
BEVERAGES — 1.3%
Asahi Group Holdings, Ltd.		1,500		47,371
Kirin Holdings Co., Ltd.		4,300		58,891
Suntory Beverage & Food, Ltd.		1,300		57,492
				163,754
BUILDING PRODUCTS — 0.4%
Asahi Glass Co., Ltd.		4,000		23,143
Daikin Industries, Ltd.		200		14,799
LIXIL Group Corp.		400		8,978
TOTO, Ltd.		100		3,562
				50,482
CAPITAL MARKETS — 0.4%
Daiwa Securities Group, Inc.		3,000		18,574
Nomura Holdings, Inc.		5,400		30,485
SBI Holdings, Inc.		400		4,392
				53,451
CHEMICALS — 3.3%
Asahi Kasei Corp.		4,000		27,363
Daicel Corp.		300		4,524
Hitachi Chemical Co., Ltd.		200		3,219
JSR Corp.		300		4,736
Kaneka Corp.		1,000		10,516
Kansai Paint Co., Ltd.		200		3,067
Kuraray Co., Ltd.		1,400		17,131
Mitsubishi Chemical Holdings Corp.		3,800		24,459
Mitsubishi Gas Chemical Co., Inc.		1,000		5,171
Mitsui Chemicals, Inc.		2,000		9,011
Nippon Paint Holdings Co., Ltd.		1,800		44,261
Nitto Denko Corp.		1,800		133,352
Shin-Etsu Chemical Co., Ltd.		1,100		60,507
Sumitomo Chemical Co., Ltd.		2,000		11,655
Taiyo Nippon Sanso Corp.		100		916
Teijin, Ltd.		2,000		6,900
Toray Industries, Inc.		7,000		65,755
				432,543
COMMERCIAL SERVICES & SUPPLIES — 1.3%
Dai Nippon Printing Co., Ltd.		2,000		20,034
Park24 Co., Ltd.		2,200		53,567
Secom Co., Ltd.		1,100		75,348
Toppan Printing Co., Ltd.		2,000		18,604
				167,553
CONSTRUCTION & ENGINEERING — 0.5%
Kajima Corp.		3,000		18,056
Obayashi Corp.		2,000		18,604
Shimizu Corp.		1,000		8,230
Taisei Corp.		4,000		26,601
				71,491
CONSTRUCTION MATERIALS — 0.2%
Taiheiyo Cement Corp.		8,000		23,542
CONSUMER FINANCE — 0.1%
Acom Co., Ltd. (a)		300		1,431
AEON Financial Service Co., Ltd.		100		2,266
Credit Saison Co., Ltd.		200		3,992
				7,689
CONTAINERS & PACKAGING — 0.1%
Toyo Seikan Group Holdings, Ltd.		400		7,521

176

SPDR MSCI Japan Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
DIVERSIFIED CONSUMER SERVICES — 0.2%
Benesse Holdings, Inc.		700	$	20,308
DIVERSIFIED FINANCIAL SERVICES — 1.1%
Japan Exchange Group, Inc.		6,700		106,380
Mitsubishi UFJ Lease & Finance Co., Ltd.		1,000		5,220
ORIX Corp.		2,200		31,374
				142,974
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.0%
Nippon Telegraph & Telephone Corp.		3,200		128,644
ELECTRIC UTILITIES — 1.5%
Chubu Electric Power Co., Inc.		3,100		42,843
Chugoku Electric Power Co., Inc.		1,300		17,291
Hokuriku Electric Power Co.		700		10,445
Kansai Electric Power Co., Inc. (a)		2,800		33,971
Kyushu Electric Power Co., Inc. (a)		1,000		11,031
Shikoku Electric Power Co., Inc.		300		4,738
Tohoku Electric Power Co., Inc.		1,700		21,481
Tokyo Electric Power Co., Inc. (a)		9,400		54,621
				196,421
ELECTRICAL EQUIPMENT — 0.4%
Fuji Electric Co., Ltd.		1,000		4,248
Mitsubishi Electric Corp.		3,000		31,984
Nidec Corp.		300		22,038
				58,270
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 5.0%
Alps Electric Co., Ltd.		100		2,756
Citizen Holdings Co., Ltd.		900		6,539
Hamamatsu Photonics KK		100		2,772
Hirose Electric Co., Ltd.		100		12,270
Hitachi High-Technologies Corp.		100		2,735
Hitachi, Ltd.		15,000		86,225
Keyence Corp.		400		223,052
Kyocera Corp.		700		32,901
Murata Manufacturing Co., Ltd.		1,600		233,692
Nippon Electric Glass Co., Ltd.		1,000		5,096
Omron Corp.		200		6,758
TDK Corp.		100		6,501
Yaskawa Electric Corp.		2,400		33,178
Yokogawa Electric Corp.		200		2,436
				656,911
FOOD & STAPLES RETAILING — 1.6%
Aeon Co., Ltd.		2,700		41,927
FamilyMart Co., Ltd.		400		18,754
Lawson, Inc.		800		65,505
Seven & i Holdings Co., Ltd.		1,800		83,046
				209,232
FOOD PRODUCTS — 1.9%
Ajinomoto Co., Inc.		2,000		47,874
Calbee, Inc.		800		34,183
MEIJI Holdings Co., Ltd.		200		16,709
NH Foods, Ltd.		2,000		39,536
Nisshin Seifun Group, Inc.		700		11,562
Nissin Foods Holdings Co., Ltd.		700		37,416
Toyo Suisan Kaisha, Ltd.		900		31,647
Yakult Honsha Co., Ltd.		100		4,955
Yamazaki Baking Co., Ltd.		1,000		22,736
				246,618
GAS UTILITIES — 1.2%
Osaka Gas Co., Ltd.		17,000		61,954
Toho Gas Co., Ltd.		3,000		19,577
Tokyo Gas Co., Ltd.		15,000		71,175
				152,706
HEALTH CARE EQUIPMENT & SUPPLIES — 2.9%
Hoya Corp.		5,400		223,595
Olympus Corp.		300		11,971
Sysmex Corp.		1,900		123,671
Terumo Corp.		600		18,854
				378,091
HEALTH CARE PROVIDERS & SERVICES — 0.5%
Alfresa Holdings Corp.		1,000		19,993
Medipal Holdings Corp.		600		10,345
Miraca Holdings, Inc.		600		26,684
Suzuken Co., Ltd.		300		11,534
				68,556
HEALTH CARE TECHNOLOGY — 0.5%
M3, Inc.		3,100		64,992
HOTELS, RESTAURANTS & LEISURE — 1.5%
McDonald’s Holdings Co., Japan, Ltd. (a)		2,000		43,560
Oriental Land Co., Ltd.		2,400		146,380
				189,940
HOUSEHOLD DURABLES — 1.6%
Casio Computer Co., Ltd.		2,100		49,700
Iida Group Holdings Co., Ltd.		300		5,636
Nikon Corp.		1,000		13,509
Panasonic Corp.		3,700		38,155
Rinnai Corp.		100		8,961
Sekisui Chemical Co., Ltd.		1,300		17,194
Sekisui House, Ltd.		2,600		44,232
Sony Corp.		1,500		37,433
				214,820
HOUSEHOLD PRODUCTS — 0.2%
Unicharm Corp.		1,500		30,887
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.3%
Electric Power Development Co., Ltd.		1,100		39,549
INDUSTRIAL CONGLOMERATES — 0.2%
Keihan Electric Railway Co., Ltd.		1,000		6,758
Toshiba Corp. (a)		12,000		24,929
				31,687
INSURANCE — 1.5%
Dai-ichi Life Insurance Co., Ltd.		2,300		38,908
Japan Post Holdings Co., Ltd. (a)		1,000		15,504
MS&AD Insurance Group Holdings, Inc.		1,200		35,612
Sompo Japan Nipponkoa Holdings, Inc.		700		23,340
Sony Financial Holdings, Inc.		200		3,623
T&D Holdings, Inc.		1,300		17,388
Tokio Marine Holdings, Inc.		1,700		66,590
				200,965
INTERNET & CATALOG RETAIL — 0.1%
Rakuten, Inc. (a)		600		6,998

177

SPDR MSCI Japan Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
INTERNET SOFTWARE & SERVICES — 0.9%
Kakaku.com, Inc.		1,800	$	35,822
Yahoo Japan Corp.		19,000		78,025
				113,847
IT SERVICES — 1.6%
Fujitsu, Ltd.		6,000		30,271
Itochu Techno-Solutions Corp.		1,000		20,134
Nomura Research Institute, Ltd.		1,200		46,585
NTT Data Corp.		600		29,328
Obic Co., Ltd.		700		37,474
Otsuka Corp.		1,000		49,545
				213,337
LEISURE EQUIPMENT & PRODUCTS — 1.6%
Bandai Namco Holdings, Inc.		800		17,051
Sankyo Co., Ltd.		700		26,331
Sega Sammy Holdings, Inc.		200		1,887
Shimano, Inc.		1,000		155,119
Yamaha Corp.		200		4,903
				205,291
MACHINERY — 4.3%
Amada Holdings Co., Ltd.		300		2,903
FANUC Corp.		1,400		245,330
Hino Motors, Ltd.		3,000		35,139
Hitachi Construction Machinery Co., Ltd.		200		3,156
IHI Corp.		3,000		8,404
JTEKT Corp.		400		6,667
Kawasaki Heavy Industries, Ltd.		2,000		7,515
Komatsu, Ltd.		2,100		34,774
Kubota Corp.		1,000		15,695
Kurita Water Industries, Ltd.		200		4,225
Makita Corp.		100		5,844
Mitsubishi Heavy Industries, Ltd.		6,000		26,600
Nabtesco Corp.		1,200		24,719
NSK, Ltd.		600		6,614
SMC Corp.		500		132,050
Sumitomo Heavy Industries, Ltd.		1,000		4,555
THK Co., Ltd.		200		3,754
				567,944
MARINE — 0.2%
Mitsui OSK Lines, Ltd.		4,000		10,208
Nippon Yusen KK		7,000		17,166
				27,374
MEDIA — 0.2%
Dentsu, Inc.		200		11,106
Hakuhodo DY Holdings, Inc.		500		5,482
Toho Co., Ltd.		400		11,173
				27,761
METALS & MINING — 1.0%
Hitachi Metals, Ltd.		2,300		28,775
JFE Holdings, Inc.		1,700		27,133
Kobe Steel, Ltd.		10,000		11,056
Maruichi Steel Tube, Ltd.		100		2,984
Mitsubishi Materials Corp.		3,000		9,577
Nippon Steel & Sumitomo Metal Corp.		1,900		38,160
Sumitomo Metal Mining Co., Ltd.		1,000		12,299
				129,984
MULTILINE RETAIL — 0.6%
Don Quijote Holdings Co., Ltd.		100		3,554
Isetan Mitsukoshi Holdings, Ltd.		600		7,911
J Front Retailing Co., Ltd.		600		8,808
Marui Group Co., Ltd.		300		4,933
Ryohin Keikaku Co., Ltd.		200		40,966
Takashimaya Co., Ltd.		1,000		9,094
				75,266
OIL, GAS & CONSUMABLE FUELS — 1.1%
Idemitsu Kosan Co., Ltd.		800		12,888
Inpex Corp.		2,000		19,710
JX Holdings, Inc.		14,800		62,549
Showa Shell Sekiyu KK		900		7,392
TonenGeneral Sekiyu KK		5,000		42,479
				145,018
PAPER & FOREST PRODUCTS — 0.1%
Oji Holdings Corp.		2,000		8,130
PERSONAL PRODUCTS — 2.4%
Kao Corp.		5,800		301,584
Shiseido Co., Ltd.		400		8,409
				309,993
PHARMACEUTICALS — 7.4%
Astellas Pharma, Inc.		20,800		299,390
Chugai Pharmaceutical Co., Ltd.		800		28,197
Daiichi Sankyo Co., Ltd.		2,400		50,087
Eisai Co., Ltd.		400		26,811
Hisamitsu Pharmaceutical Co., Inc.		200		8,479
Kyowa Hakko Kirin Co., Ltd.		1,000		15,919
Mitsubishi Tanabe Pharma Corp.		3,900		67,953
Ono Pharmaceutical Co., Ltd.		100		18,031
Otsuka Holdings Co., Ltd.		5,600		200,966
Santen Pharmaceutical Co., Ltd.		5,000		83,378
Shionogi & Co., Ltd.		800		36,597
Sumitomo Dainippon Pharma Co., Ltd.		700		8,327
Taisho Pharmaceutical Holdings Co., Ltd.		400		28,530
Takeda Pharmaceutical Co., Ltd.		1,900		95,794
				968,459
PROFESSIONAL SERVICES — 0.6%
Recruit Holdings Co., Ltd.		2,600		76,944
REAL ESTATE INVESTMENT TRUSTS (REITS) — 2.2%
Japan Prime Realty Investment Corp.		10		34,332
Japan Real Estate Investment Corp.		9		43,917
Japan Retail Fund Investment Corp.		25		48,256
Nippon Building Fund, Inc.		11		52,762
Nippon Prologis REIT, Inc.		15		27,246
Nomura Real Estate Master Fund, Inc. (a)		44		54,646
United Urban Investment Corp.		22		29,993
				291,152
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.8%
Aeon Mall Co., Ltd.		100		1,732
Daito Trust Construction Co., Ltd.		1,200		139,756
Daiwa House Industry Co., Ltd.		1,400		40,768
Hulic Co., Ltd.		200		1,777
Mitsubishi Estate Co., Ltd.		1,000		20,978
Mitsui Fudosan Co., Ltd.		1,000		25,404
Nomura Real Estate Holdings, Inc.		200		3,749

178

SPDR MSCI Japan Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
NTT Urban Development Corp.		100	$	973
Tokyo Tatemono Co., Ltd.		200		2,200
Tokyu Fudosan Holdings Corp.		600		3,801
				241,138
ROAD & RAIL — 3.7%
Central Japan Railway Co.		300		53,868
East Japan Railway Co.		1,000		95,183
Hankyu Hanshin Holdings, Inc.		8,000		52,471
Keikyu Corp.		1,000		8,338
Keio Corp.		1,000		8,729
Kintetsu Group Holdings Co., Ltd.		8,000		32,786
Nagoya Railroad Co., Ltd.		8,000		33,584
Nippon Express Co., Ltd.		6,000		28,530
Odakyu Electric Railway Co., Ltd.		2,000		21,763
Tobu Railway Co., Ltd.		8,000		39,769
Tokyu Corp.		4,000		31,921
West Japan Railway Co.		1,000		69,778
				476,720
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.1%
Rohm Co., Ltd.		100		5,137
Tokyo Electron, Ltd.		100		6,087
				11,224
SOFTWARE — 1.1%
GungHo Online Entertainment, Inc. (a)		4,500		12,307
Konami Holdings Corp.		100		2,401
Nexon Co., Ltd.		200		3,290
Oracle Corp. Japan		1,400		65,755
Trend Micro, Inc. (a)		1,400		57,376
				141,129
SPECIALTY RETAIL — 3.5%
ABC-Mart, Inc.		700		38,697
Fast Retailing Co., Ltd.		600		212,677
Hikari Tsushin, Inc.		100		6,858
Nitori Holdings Co., Ltd.		1,100		93,545
Sanrio Co., Ltd.		600		14,215
Shimamura Co., Ltd.		200		23,708
USS Co., Ltd.		3,400		51,723
Yamada Denki Co., Ltd.		4,200		18,260
				459,683
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.0%
Brother Industries, Ltd.		500		5,827
Canon, Inc.		3,700		113,035
FUJIFILM Holdings Corp.		1,600		67,567
Konica Minolta, Inc.		700		7,111
NEC Corp.		10,000		32,005
Ricoh Co., Ltd.		3,300		34,318
Seiko Epson Corp.		500		7,772
				267,635
TEXTILES, APPAREL & LUXURY GOODS — 0.3%
Asics Corp.		1,700		35,669
TOBACCO — 2.3%
Japan Tobacco, Inc.		8,000		297,336
TRADING COMPANIES & DISTRIBUTORS — 3.5%
ITOCHU Corp.		7,600		91,102
Marubeni Corp.		13,600		70,671
Mitsubishi Corp.		7,100		119,696
Mitsui & Co., Ltd.		8,900		106,945
Sumitomo Corp.		5,200		53,623
Toyota Tsusho Corp.		800		18,947
				460,984
TRANSPORTATION INFRASTRUCTURE — 0.1%
Kamigumi Co., Ltd.		1,000		8,712
WIRELESS TELECOMMUNICATION SERVICES — 4.0%
KDDI Corp.		12,900		338,224
NTT DOCOMO, Inc.		5,000		103,246
SoftBank Group Corp.		1,500		76,549
				518,019
TOTAL COMMON STOCKS (Cost $12,665,945)				13,023,378
SHORT-TERM INVESTMENT — 0.8%
UNITED STATES — 0.8%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (b) (c) (Cost $104,369)		104,369		104,369
TOTAL INVESTMENTS — 100.6% (Cost $12,770,314)				13,127,747
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)%				(71,908	)
NET ASSETS — 100.0%			$	13,055,839

(a) Non-income producing security

(b) The rate shown is the annualized seven-day yield at December 31, 2015.

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

179

SPDR MSCI Mexico Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
BEVERAGES — 14.9%
Arca Continental SAB de CV		11,675	$	70,762
Coca-Cola Femsa SAB de CV Series L		8,265		59,291
Fomento Economico Mexicano SAB de CV		21,125		197,696
				327,749
CHEMICALS — 1.6%
Mexichem SAB de CV		15,497		34,545
COMMERCIAL BANKS — 9.8%
Grupo Financiero Banorte SAB de CV Series O		18,503		101,765
Grupo Financiero Inbursa SAB de CV Series O		40,127		72,256
Grupo Financiero Santander Mexico SAB de CV Class B		24,553		43,004
				217,025
CONSTRUCTION & ENGINEERING — 3.1%
Promotora y Operadora de Infraestructura SAB de CV (a)		5,877		68,985
CONSTRUCTION MATERIALS — 2.9%
Cemex SAB de CV (a)		116,752		63,746
CONSUMER FINANCE — 2.3%
Gentera SAB de CV		26,320		50,823
FOOD & STAPLES RETAILING — 12.3%
Controladora Comercial Mexicana SAB de CV		13,591		37,229
Grupo Comercial Chedraui SA de CV		14,832		39,452
Wal-Mart de Mexico SAB de CV		76,918		193,685
				270,366
FOOD PRODUCTS — 6.9%
Gruma SAB de CV Class B		2,671		37,387
Grupo Bimbo SAB de CV Series A (a)		24,351		64,786
Grupo Lala SAB de CV		22,015		51,076
				153,249
HOUSEHOLD PRODUCTS — 2.8%
Kimberly-Clark de Mexico SAB de CV Class A		26,396		61,699
INDUSTRIAL CONGLOMERATES — 4.8%
Alfa SAB de CV Class A		26,339		52,004
Grupo Carso SAB de CV Series A1		13,087		53,784
				105,788
MEDIA — 5.2%
Grupo Televisa SAB Series CPO		21,029		114,867
METALS & MINING — 7.7%
Grupo Mexico SAB de CV Series B		61,757		131,551
Industrias Penoles SAB de CV		2,554		26,207
Minera Frisco SAB de CV (a)		24,195		11,487
				169,245
MULTILINE RETAIL — 2.8%
El Puerto de Liverpool SAB de CV Series C1		5,141		62,542
PHARMACEUTICALS — 0.8%
Genomma Lab Internacional SAB de CV Class B (a)		20,713		16,610
REAL ESTATE INVESTMENT TRUSTS (REITS) — 2.9%
Fibra Uno Administracion SA de CV		29,348	$	64,555
TRANSPORTATION INFRASTRUCTURE — 6.7%
Grupo Aeroportuario del Pacifico SAB de CV Class B		6,509		57,303
Grupo Aeroportuario del Sureste SAB de CV Class B		4,821		68,079
OHL Mexico SAB de CV (a)		21,771		22,740
				148,122
WIRELESS TELECOMMUNICATION SERVICES — 12.1%
America Movil SAB de CV Series L		380,344		266,906
TOTAL COMMON STOCKS
(Cost $2,994,164)				2,196,822
SHORT-TERM INVESTMENT — 0.4%
UNITED STATES — 0.4%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (b) (c) (Cost $8,128)		8,128		8,128
TOTAL INVESTMENTS — 100.0%
(Cost $3,002,292)				2,204,950
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (d)				403
NET ASSETS — 100.0%			$	2,205,353

(a) Non-income producing security

(b) The rate shown is the annualized seven-day yield at December 31, 2015.

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(d) Amount is less than 0.05% of net assets.

180

SPDR MSCI South Korea Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.0%
AEROSPACE & DEFENSE — 0.6%
Korea Aerospace Industries, Ltd.		233	$	15,519
AIR FREIGHT & LOGISTICS — 0.8%
Hyundai Glovis Co., Ltd.		116		19,093
AIRLINES — 0.1%
Korean Air Lines Co., Ltd. (a)		128		3,024
AUTO COMPONENTS — 5.5%
Hankook Tire Co., Ltd.		464		18,619
Hanon Systems		231		10,225
Hyundai Mobis Co., Ltd.		461		96,914
Hyundai Wia Corp.		101		9,647
				135,405
AUTOMOBILES — 9.0%
Hyundai Motor Co.		812		103,184
Hyundai Motor Co. Preference Shares (b)		197		17,641
Hyundai Motor Co. Preference Shares (b)		170		14,933
Kia Motors Corp.		1,931		86,624
				222,382
BANKS — 6.1%
BNK Financial Group, Inc.		694		4,983
DGB Financial Group, Inc.		523		4,483
Hana Financial Group, Inc.		1,316		26,487
Industrial Bank of Korea		1,532		16,136
KB Financial Group, Inc.		1,432		40,485
Shinhan Financial Group Co., Ltd.		1,377		46,446
Woori Bank		1,643		12,359
				151,379
BEVERAGES — 0.2%
Lotte Chilsung Beverage Co., Ltd.		2		3,785
BUILDING PRODUCTS — 0.2%
KCC Corp.		12		4,273
CAPITAL MARKETS — 0.3%
Daewoo Securities Co., Ltd.		118		953
Korea Investment Holdings Co., Ltd.		29		1,225
Mirae Asset Securities Co., Ltd.		75		1,382
NH Investment & Securities Co., Ltd.		111		956
Samsung Securities Co., Ltd.		66		2,350
				6,866
CHEMICALS — 3.2%
Hanwha Chemical Corp.		120		2,784
Hanwha Corp.		171		5,746
Hyosung Corp.		35		3,507
Kumho Petrochemical Co., Ltd.		23		1,022
LG Chem, Ltd.		175		49,028
LG Chem, Ltd. Preference Shares		61		12,850
Lotte Chemical Corp.		16		3,322
OCI Co., Ltd.		18		1,151
				79,410
COMMERCIAL SERVICES & SUPPLIES — 1.3%
KEPCO Plant Service & Engineering Co., Ltd.		220		16,699
S-1 Corp.		179		15,220
				31,919
CONSTRUCTION & ENGINEERING — 0.4%
Daelim Industrial Co., Ltd.		36		2,060
Daewoo Engineering & Construction Co., Ltd. (a)		83		396
GS Engineering & Construction Corp. (a)		106		1,786
Hyundai Development Co-Engineering & Construction		23		761
Hyundai Engineering & Construction Co., Ltd.		196		4,772
				9,775
CONSUMER FINANCE — 0.2%
Samsung Card Co., Ltd.		184		4,841
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.1%
KT Corp. (a)		721		17,371
LG Uplus Corp.		1,000		8,869
				26,240
ELECTRIC UTILITIES — 1.9%
Korea Electric Power Corp.		1,132		48,271
ELECTRICAL EQUIPMENT — 0.1%
Doosan Heavy Industries & Construction Co., Ltd.		141		2,477
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.6%
LG Display Co., Ltd.		1,804		37,771
LG Innotek Co., Ltd.		116		9,744
Samsung Electro-Mechanics Co., Ltd.		388		20,814
Samsung SDI Co., Ltd.		223		21,681
				90,010
FOOD & STAPLES RETAILING — 1.4%
BGF retail Co., Ltd.		70		10,238
Dongsuh Cos., Inc.		183		4,862
E-MART, Inc.		92		14,829
GS Retail Co., Ltd.		100		4,588
				34,517
FOOD PRODUCTS — 1.6%
CJ CheilJedang Corp.		37		11,912
Lotte Confectionery Co., Ltd.		3		5,831
Orion Corp.		19		18,894
Ottogi Corp.		4		4,179
				40,816
GAS UTILITIES — 0.4%
Korea Gas Corp.		343		10,780
HOTELS, RESTAURANTS & LEISURE — 1.6%
Kangwon Land, Inc.		1,123		36,777
Paradise Co., Ltd. (a)		164		2,469
				39,246
HOUSEHOLD DURABLES — 2.3%
Coway Co., Ltd.		370		26,538
Hanssem Co., Ltd.		60		11,846
LG Electronics, Inc.		428		19,638
				58,022
HOUSEHOLD PRODUCTS — 2.1%
LG Household & Health Care, Ltd.		58		51,938
INDUSTRIAL CONGLOMERATES — 2.7%
CJ Corp.		21		4,495
Doosan Corp.		21		1,585
LG Corp.		586		35,383
Samsung C&T Corp. (a)		89		10,627
SK Holdings Co., Ltd.		77		15,793
				67,883

181

SPDR MSCI South Korea Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
INSURANCE — 7.3%
Dongbu Insurance Co., Ltd.		503	$	30,157
Hanwha Life Insurance Co., Ltd.		2,675		16,859
Hyundai Marine & Fire Insurance Co., Ltd.		766		23,551
Samsung Fire & Marine Insurance Co., Ltd.		254		66,611
Samsung Life Insurance Co., Ltd.		457		42,873
				180,051
INTERNET SOFTWARE & SERVICES — 5.1%
Kakao Corp.		254		25,085
NAVER Corp.		181		101,572
				126,657
IT SERVICES — 1.6%
Samsung SDS Co., Ltd.		180		38,992
MACHINERY — 0.6%
Hyundai Heavy Industries Co., Ltd. (a)		148		11,082
Samsung Heavy Industries Co., Ltd.		525		4,858
				15,940
MEDIA — 0.5%
Cheil Worldwide, Inc. (a)		612		10,804
CJ E&M Corp. (a)		10		688
				11,492
METALS & MINING — 2.9%
Hyundai Steel Co.		184		7,838
Korea Zinc Co., Ltd.		49		19,599
POSCO		306		43,452
				70,889
MULTILINE RETAIL — 1.1%
Hyundai Department Store Co., Ltd.		106		11,436
Lotte Shopping Co., Ltd.		77		15,268
Shinsegae Co., Ltd.		8		1,569
				28,273
OIL, GAS & CONSUMABLE FUELS — 1.7%
GS Holdings Corp.		253		10,939
S-Oil Corp.		130		8,803
SK Innovation Co., Ltd. (a)		203		22,507
				42,249
PERSONAL PRODUCTS — 3.6%
Amorepacific Corp.		163		57,621
Amorepacific Corp. Preference Shares		70		13,731
Amorepacific Group		150		18,933
				90,285
PHARMACEUTICALS — 0.8%
Celltrion, Inc. (a)		21		1,513
Hanmi Pharm Co., Ltd. (a)		2		1,242
Hanmi Science Co., Ltd. (a)		10		1,100
Yuhan Corp.		65		15,106
				18,961
ROAD & RAIL — 0.3%
CJ Korea Express Co., Ltd. (a)		39		6,353
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.8%
SK Hynix, Inc.		1,706		44,740
SOFTWARE — 1.1%
NCSoft Corp.		152		27,612
SPECIALTY RETAIL — 0.0% (c)
Hotel Shilla Co., Ltd.		12		791
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 20.8%
Samsung Electronics Co., Ltd.		404		434,131
Samsung Electronics Co., Ltd. Preference Shares		87		80,949
				515,080
TOBACCO — 2.8%
KT&G Corp.		790		70,406
TRADING COMPANIES & DISTRIBUTORS — 0.2%
Daewoo International Corp.		129		1,799
SK Networks Co., Ltd.		514		2,406
				4,205
WIRELESS TELECOMMUNICATION SERVICES — 1.1%
SK Telecom Co., Ltd.		147		27,017
TOTAL COMMON STOCKS (Cost $2,936,876)				2,477,864
RIGHTS — 0.0% (c)
BANKS — 0.0% (c)
BNK Financial Group, Inc. (expiring 1/14/16) (a) (Cost $0)		152		172
SHORT-TERM INVESTMENT — 0.1%
UNITED STATES — 0.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e) (Cost $1,373)		1,373		1,373
TOTAL INVESTMENTS — 100.1% (Cost $2,938,249)				2,479,409
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)%				(2,114	)
NET ASSETS — 100.0%			$	2,477,295

(a) Non-income producing security

(b) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(c) Amount shown represents less than 0.05% of net assets.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

182

SPDR MSCI Spain Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.4%
AIRLINES — 2.0%
International Consolidated Airlines Group SA		4,678	$	42,051
BANKS — 26.6%
Banco Bilbao Vizcaya Argentaria SA		19,231		140,782
Banco de Sabadell SA		23,140		41,099
Banco Popular Espanol SA		8,966		29,638
Banco Santander SA		53,875		266,754
Bankia SA		18,051		21,060
Bankinter SA		4,764		33,866
CaixaBank SA		10,456		36,506
				569,705
BIOTECHNOLOGY — 2.2%
Grifols SA		1,044		48,346
CONSTRUCTION & ENGINEERING — 6.2%
ACS Actividades de Construccion y Servicios SA		1,788		52,471
Ferrovial SA		3,567		80,810
				133,281
DIVERSIFIED TELECOMMUNICATION SERVICES — 8.9%
Telefonica SA		17,228		191,546
ELECTRIC UTILITIES — 15.7%
Endesa SA		4,152		83,554
Iberdrola SA		24,467		174,089
Red Electrica Corp. SA		954		79,911
				337,554
FOOD & STAPLES RETAILING — 2.3%
Distribuidora Internacional de Alimentacion SA (a)		8,324		49,227
GAS UTILITIES — 6.7%
Enagas SA		2,796		78,969
Gas Natural SDG SA		3,120		63,769
				142,738
INSURANCE — 3.7%
Grupo Catalana Occidente SA		1,269		44,140
Mapfre SA		13,990		35,136
				79,276
IT SERVICES — 4.7%
Amadeus IT Holding SA Class A		2,259		99,839
MACHINERY — 2.4%
Zardoya Otis SA		4,351		50,952
MEDIA — 1.4%
Mediaset Espana Comunicacion SA		2,751		29,974
OIL, GAS & CONSUMABLE FUELS — 4.0%
Repsol SA		7,729		84,968
SPECIALTY RETAIL — 7.5%
Industria de Diseno Textil SA		4,695		161,625
TRANSPORTATION INFRASTRUCTURE — 5.1%
Abertis Infraestructuras SA		4,846		75,857
Aena SA (a) (b)		303		34,692
				110,549
TOTAL COMMON STOCKS (Cost $2,969,685)				2,131,631
RIGHTS — 0.2%
OIL, GAS & CONSUMABLE FUELS — 0.2%
Repsol SA (expiring 1/14/16) (a) (Cost $3,906)		7,729		3,854
SHORT-TERM INVESTMENT — 2.8%
UNITED STATES — 2.8%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d) (Cost $59,496)		59,496		59,496
TOTAL INVESTMENTS — 102.4% (Cost $3,033,087)				2,194,981
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.4)%				(52,033	)
NET ASSETS — 100.0%			$	2,142,948

(a) Non-income producing security

(b) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 1.6% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(c) The rate shown is the annualized seven-day yield at December 31, 2015.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

183

SPDR MSCI Taiwan Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AIRLINES — 0.3%
China Airlines, Ltd. (a)		15,000	$	5,480
Eva Airways Corp. (a)		13,240		7,497
				12,977
AUTO COMPONENTS — 0.3%
Cheng Shin Rubber Industry Co., Ltd.		9,000		14,604
AUTOMOBILES — 0.1%
Yulon Motor Co., Ltd.		6,000		5,516
BANKS — 10.7%
Chang Hwa Commercial Bank, Ltd.		88,810		42,449
China Development Financial Holding Corp.		103,000		25,807
CTBC Financial Holding Co., Ltd.		127,367		65,531
E.Sun Financial Holding Co., Ltd.		65,259		38,046
First Financial Holding Co., Ltd.		165,633		77,151
Hua Nan Financial Holdings Co., Ltd.		144,246		66,970
Mega Financial Holding Co., Ltd.		121,579		78,654
SinoPac Financial Holdings Co., Ltd.		94,084		26,839
Taishin Financial Holding Co., Ltd.		55,000		19,088
Taiwan Business Bank (a)		38,628		9,620
Taiwan Cooperative Financial Holding Co., Ltd.		169,034		70,759
				520,914
CAPITAL MARKETS — 0.4%
Yuanta Financial Holding Co., Ltd.		51,311		18,980
CHEMICALS — 3.0%
Formosa Chemicals & Fibre Corp.		19,000		42,805
Formosa Plastics Corp.		26,000		60,949
Nan Ya Plastics Corp.		21,000		38,999
Taiwan Fertilizer Co., Ltd.		3,000		3,932
				146,685
CONSTRUCTION MATERIALS — 1.0%
Asia Cement Corp.		33,000		27,528
Taiwan Cement Corp.		25,000		20,778
				48,306
DIVERSIFIED FINANCIAL SERVICES — 1.0%
Chailease Holding Co., Ltd.		3,120		5,405
Fubon Financial Holding Co., Ltd.		33,000		45,209
				50,614
DIVERSIFIED TELECOMMUNICATION SERVICES — 5.4%
Asia Pacific Telecom Co., Ltd. (a)		12,000		4,256
Chunghwa Telecom Co., Ltd.		86,000		259,464
				263,720
ELECTRICAL EQUIPMENT — 0.2%
Teco Electric and Machinery Co., Ltd.		9,000		7,206
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 17.3%
AU Optronics Corp.		130,000		38,509
Delta Electronics, Inc.		42,205		199,801
Hon Hai Precision Industry Co., Ltd.		117,000		287,807
Innolux Corp.		150,000		45,392
Largan Precision Co., Ltd.		2,000		138,217
Simplo Technology Co., Ltd.		9,000		28,770
Synnex Technology International Corp.		42,000		40,981
WPG Holdings, Ltd.		50,000		47,873
Zhen Ding Technology Holding, Ltd.		7,000		16,154
				843,504
FOOD & STAPLES RETAILING — 2.3%
President Chain Store Corp.		18,000		112,613
FOOD PRODUCTS — 1.7%
Standard Foods Corp.		7,600		18,996
Uni-President Enterprises Corp.		38,440		64,248
				83,244
INDUSTRIAL CONGLOMERATES — 0.4%
Far Eastern New Century Corp.		26,520		20,790
INSURANCE — 2.1%
Cathay Financial Holding Co., Ltd.		55,000		77,526
China Life Insurance Co., Ltd.		15,800		12,146
Shin Kong Financial Holding Co., Ltd.		49,376		10,748
				100,420
LEISURE EQUIPMENT & PRODUCTS — 1.0%
Giant Manufacturing Co., Ltd.		4,000		26,669
Merida Industry Co., Ltd.		4,000		21,554
				48,223
MACHINERY — 0.1%
Hiwin Technologies Corp.		1,030		4,061
MARINE — 0.1%
Evergreen Marine Corp. Taiwan, Ltd.		7,070		2,852
METALS & MINING — 1.0%
China Steel Corp.		87,000		47,543
OIL, GAS & CONSUMABLE FUELS — 0.8%
Formosa Petrochemical Corp.		17,000		40,783
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.5%
Highwealth Construction Corp.		3,900		4,500
Ruentex Development Co., Ltd.		16,402		21,397
				25,897
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 27.6%
Advanced Semiconductor Engineering, Inc.		54,000		62,471
Hermes Microvision, Inc.		1,000		36,381
Inotera Memories, Inc. (a)		53,000		45,098
MediaTek, Inc.		26,000		197,887
Novatek Microelectronics Corp.		15,000		58,910
Phison Electronics Corp.		4,000		28,313
Powertech Technology, Inc.		9,000		17,865
Radiant Opto-Electronics Corp.		4,000		9,182
Realtek Semiconductor Corp.		2,000		4,792
Siliconware Precision Industries Co., Ltd.		21,000		33,437
Taiwan Semiconductor Manufacturing Co., Ltd.		171,000		744,452
Transcend Information, Inc.		7,000		18,263
United Microelectronics Corp.		157,000		57,835
Vanguard International Semiconductor Corp.		24,000		31,272
				1,346,158
SPECIALTY RETAIL — 0.2%
Hotai Motor Co., Ltd.		1,000		11,569
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 15.1%
Acer, Inc. (a)		56,612		20,855
Advantech Co., Ltd.		11,000		70,828
Asustek Computer, Inc.		10,000		82,808
Casetek Holdings, Ltd.		3,000		12,284
Catcher Technology Co., Ltd.		14,000		117,636
Chicony Electronics Co., Ltd.		31,115		68,393
Compal Electronics, Inc.		70,000		39,425
Foxconn Technology Co., Ltd.		22,220		47,082

184

SPDR MSCI Taiwan Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
HTC Corp.		6,000	$	14,248
Inventec Corp.		44,000		28,867
Lite-On Technology Corp.		49,235		47,741
Pegatron Corp.		26,000		56,992
Quanta Computer, Inc.		58,000		93,585
Wistron Corp.		60,721		34,384
				735,128
TEXTILES, APPAREL & LUXURY GOODS — 2.7%
Eclat Textile Co., Ltd.		4,000		55,226
Feng TAY Enterprise Co., Ltd.		7,150		36,569
Formosa Taffeta Co., Ltd.		5,000		4,567
Pou Chen Corp.		12,000		15,746
Ruentex Industries, Ltd.		11,000		20,562
				132,670
WIRELESS TELECOMMUNICATION SERVICES — 4.4%
Far EasTone Telecommunications Co., Ltd.		40,000		82,321
Taiwan Mobile Co., Ltd.		43,000		130,910
				213,231
TOTAL COMMON STOCKS (Cost $5,856,897)				4,858,208
SHORT-TERM INVESTMENT — 0.4%
UNITED STATES — 0.4%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (b) (c) (Cost $17,201)		17,201		17,201
TOTAL INVESTMENTS — 100.1%
(Cost $5,874,098)				4,875,409
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)%				(5,131	)
NET ASSETS — 100.0%			$	4,870,278

(a) Non-income producing security

(b) The rate shown is the annualized seven-day yield at December 31, 2015.

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

185

SPDR MSCI United Kingdom Quality Mix ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AEROSPACE & DEFENSE — 3.9%
BAE Systems PLC		8,034	$	59,159
Cobham PLC		332		1,386
Meggitt PLC		1,294		7,146
Rolls-Royce Holdings PLC (a)		3,579		30,332
				98,023
AIR FREIGHT & LOGISTICS — 0.6%
Royal Mail PLC		2,357		15,424
AIRLINES — 0.7%
easyJet PLC		643		16,490
AUTO COMPONENTS — 0.6%
GKN PLC		3,430		15,591
BANKS — 8.7%
Barclays PLC		10,404		33,567
HSBC Holdings PLC		15,073		119,123
Lloyds Banking Group PLC		32,223		34,703
Royal Bank of Scotland Group PLC (a)		1,312		5,840
Standard Chartered PLC		2,772		23,031
				216,264
BEVERAGES — 3.9%
Coca-Cola HBC AG (a)		86		1,835
Diageo PLC		1,482		40,552
SABMiller PLC		910		54,582
				96,969
CAPITAL MARKETS — 1.8%
3i Group PLC		487		3,457
Aberdeen Asset Management PLC		1,807		7,708
Hargreaves Lansdown PLC		699		15,516
ICAP PLC		882		6,623
Investec PLC		169		1,194
Schroders PLC		211		9,255
				43,753
CHEMICALS — 1.0%
Croda International PLC		256		11,478
Johnson Matthey PLC		356		13,941
				25,419
COMMERCIAL SERVICES & SUPPLIES — 1.0%
Aggreko PLC		445		5,995
Babcock International Group PLC		390		5,840
G4S PLC		3,587		11,922
				23,757
CONSUMER FINANCE — 0.0%(b)
Provident Financial PLC		14		695
CONTAINERS & PACKAGING — 0.3%
Rexam PLC		751		6,691
DIVERSIFIED FINANCIAL SERVICES — 0.1%
London Stock Exchange Group PLC		44		1,780
DIVERSIFIED TELECOMMUNICATION SERVICES — 3.5%
BT Group PLC		10,459		72,715
Inmarsat PLC		882		14,781
				87,496
ELECTRIC UTILITIES — 1.1%
SSE PLC		1,265		28,489
ENERGY EQUIPMENT & SERVICES — 0.2%
Amec Foster Wheeler PLC		374		2,364
Petrofac, Ltd.		128		1,502
				3,866
FOOD & STAPLES RETAILING — 1.3%
J Sainsbury PLC		2,345		8,945
Tesco PLC (a)		6,813		15,012
Wm Morrison Supermarkets PLC		3,472		7,584
				31,541
FOOD PRODUCTS — 2.0%
Associated British Foods PLC		783		38,569
Tate & Lyle PLC		1,274		11,247
				49,816
HEALTH CARE EQUIPMENT & SUPPLIES — 1.7%
Smith & Nephew PLC		2,316		41,236
HOTELS, RESTAURANTS & LEISURE — 5.2%
Carnival PLC		35		1,994
Compass Group PLC		4,049		70,122
InterContinental Hotels Group PLC		26		1,019
Merlin Entertainments PLC (c)		1,534		10,299
TUI AG		617		11,013
Whitbread PLC		365		23,676
William Hill PLC		2,000		11,673
				129,796
HOUSEHOLD DURABLES — 0.8%
Barratt Developments PLC		197		1,817
Persimmon PLC (a)		567		16,940
Taylor Wimpey PLC		514		1,539
				20,296
HOUSEHOLD PRODUCTS — 3.2%
Reckitt Benckiser Group PLC		849		78,597
INDUSTRIAL CONGLOMERATES — 0.4%
Smiths Group PLC		654		9,056
INSURANCE — 4.5%
Admiral Group PLC		1,092		26,702
Aviva PLC		2,997		22,793
Direct Line Insurance Group PLC		2,667		16,018
Legal & General Group PLC		3,919		15,469
Old Mutual PLC		1,489		3,926
Prudential PLC		848		19,135
RSA Insurance Group PLC		436		2,741
St James’s Place PLC		50		743
Standard Life PLC		581		3,337
				110,864
INTERNET SOFTWARE & SERVICES — 0.1%
Auto Trader Group PLC (a) (c)		239		1,564
MACHINERY — 0.4%
IMI PLC		644		8,177
Melrose Industries PLC		400		1,715
Weir Group PLC		94		1,386
				11,278
MEDIA — 5.6%
ITV PLC		10,482		42,733
Pearson PLC		417		4,524
RELX PLC		3,629		64,025
Sky PLC		979		16,045
WPP PLC		482		11,104
				138,431

186

SPDR MSCI United Kingdom Quality Mix ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
METALS & MINING — 3.5%
Anglo American PLC		1,859	$	8,205
Antofagasta PLC		164		1,134
BHP Billiton PLC		1,154		12,927
Fresnillo PLC		534		5,572
Glencore PLC		19,819		26,430
Randgold Resources, Ltd.		232		14,167
Rio Tinto PLC		636		18,556
				86,991
MULTI-UTILITIES — 2.6%
Centrica PLC		5,418		17,417
National Grid PLC		3,478		48,058
				65,475
MULTILINE RETAIL — 2.1%
Marks & Spencer Group PLC		1,280		8,535
Next PLC		402		43,194
				51,729
OIL, GAS & CONSUMABLE FUELS — 10.0%
BG Group PLC		1,397		20,282
BP PLC		18,604		97,068
Royal Dutch Shell PLC Class A		3,755		84,456
Royal Dutch Shell PLC Class B		2,089		47,509
				249,315
PAPER & FOREST PRODUCTS — 0.1%
Mondi PLC		90		1,770
PERSONAL PRODUCTS — 3.2%
Unilever PLC		1,875		80,876
PHARMACEUTICALS — 7.2%
AstraZeneca PLC		1,204		81,923
GlaxoSmithKline PLC		2,312		46,787
Shire PLC		734		50,825
				179,535
PROFESSIONAL SERVICES — 2.0%
Capita PLC		1,682		29,948
Experian PLC		468		8,284
Intertek Group PLC		283		11,583
				49,815
REAL ESTATE INVESTMENT TRUSTS (REITS) — 2.2%
British Land Co. PLC		1,219		14,122
Hammerson PLC		1,373		12,142
Intu Properties PLC		1,614		7,548
Land Securities Group PLC		1,110		19,256
Segro PLC		464		2,937
				56,005
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.4%
ARM Holdings PLC		2,251		34,471
SOFTWARE — 0.9%
Sage Group PLC		2,570		22,860
SPECIALTY RETAIL — 1.0%
Dixons Carphone PLC		869		6,404
Kingfisher PLC		2,690		13,064
Sports Direct International PLC (a)		638		5,426
				24,894
TEXTILES, APPAREL & LUXURY GOODS — 0.6%
Burberry Group PLC		851		14,989
TOBACCO — 4.5%
British American Tobacco PLC		1,532		85,150
Imperial Tobacco Group PLC		532		28,122
				113,272
TRADING COMPANIES & DISTRIBUTORS — 2.7%
Ashtead Group PLC		85		1,402
Bunzl PLC		1,145		31,812
Travis Perkins PLC		405		11,777
Wolseley PLC		426		23,175
				68,166
WATER UTILITIES — 0.8%
Severn Trent PLC		338		10,846
United Utilities Group PLC		618		8,521
				19,367
WIRELESS TELECOMMUNICATION SERVICES — 2.1%
Vodafone Group PLC		16,240		52,899
TOTAL COMMON STOCKS (Cost $2,928,095)				2,475,611
SHORT-TERM INVESTMENT — 1.9%
UNITED STATES — 1.9%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e) (Cost $46,384)		46,384		46,384
TOTAL INVESTMENTS — 101.4% (Cost $2,974,479)				2,521,995
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.4)%				(35,038	)
NET ASSETS — 100.0%			$	2,486,957

(a) Non-income producing security

(b) Amount shown represents less than 0.05% of net assets.

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.5% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

187

SPDR Russell/Nomura PRIME Japan ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AIR FREIGHT & LOGISTICS — 0.3%
Yamato Holdings Co., Ltd.		3,580	$	76,662
AIRLINES — 0.5%
ANA Holdings, Inc.		15,000		43,643
Japan Airlines Co., Ltd.		3,000		108,633
				152,276
AUTO COMPONENTS — 3.4%
Aisin Seiki Co., Ltd. (a)		1,768		77,013
Bridgestone Corp.		5,703		197,883
Daido Metal Co., Ltd.		1,300		12,093
Denso Corp.		3,947		190,894
FCC Co., Ltd. (a)		1,484		31,902
Futaba Industrial Co., Ltd.		608		2,926
Keihin Corp. (a)		856		15,214
NGK Spark Plug Co., Ltd.		1,160		31,002
NHK Spring Co., Ltd.		540		5,486
Nifco, Inc. (a)		1,328		62,153
Nissin Kogyo Co., Ltd.		916		13,402
NOK Corp.		1,516		36,018
Showa Corp. (a)		1,812		17,036
Stanley Electric Co., Ltd.		944		20,968
Sumitomo Electric Industries, Ltd.		5,687		81,503
Sumitomo Rubber Industries, Ltd. (a)		2,708		35,590
Tokai Rika Co., Ltd.		20		500
Toyo Tire & Rubber Co., Ltd.		1,400		27,978
Toyota Industries Corp.		1,772		96,190
				955,751
AUTOMOBILES — 8.3%
Daihatsu Motor Co., Ltd. (a)		464		6,330
Fuji Heavy Industries, Ltd.		5,347		223,445
Honda Motor Co., Ltd.		14,074		457,453
Isuzu Motors, Ltd.		6,500		71,000
Mazda Motor Corp.		4,800		100,712
Mitsubishi Motors Corp. (a)		3,900		33,393
Nissan Motor Co., Ltd. (a)		20,262		215,514
Suzuki Motor Corp.		3,292		101,337
Toyota Motor Corp.		17,277		1,075,441
Yamaha Motor Co., Ltd.		1,816		41,424
				2,326,049
BANKS — 8.7%
77 Bank, Ltd.		5,803		31,597
Awa Bank, Ltd. (a)		5,731		33,682
Bank of Kyoto, Ltd. (a)		2,916		27,392
Bank of Yokohama, Ltd.		11,947		74,098
Chiba Bank, Ltd.		9,063		65,094
Chugoku Bank, Ltd.		2,504		33,804
Fukuoka Financial Group, Inc.		9,000		45,264
Hachijuni Bank, Ltd.		8,719		53,998
Hiroshima Bank, Ltd.		8,811		50,759
Hokuhoku Financial Group, Inc.		14,658		30,219
Hyakugo Bank, Ltd. (a)		6,147		30,200
Iyo Bank, Ltd. (a)		2,380		23,425
Joyo Bank, Ltd.		6,155		29,420
Juroku Bank, Ltd. (a)		8,883		35,519
Mitsubishi UFJ Financial Group, Inc.		107,600		677,201
Mizuho Financial Group, Inc.		206,900		418,805
Musashino Bank, Ltd.		620		22,909
Nanto Bank, Ltd.		3,391		10,712
Nishi-Nippon City Bank, Ltd.		11,799		31,485
Resona Holdings, Inc.		14,300		70,279
Shinsei Bank, Ltd.		14,726		27,421
Shizuoka Bank, Ltd. (a)		3,363		33,044
Sumitomo Mitsui Financial Group, Inc.		10,900		417,352
Sumitomo Mitsui Trust Holdings, Inc.		29,981		114,895
Suruga Bank, Ltd.		496		10,362
Yamaguchi Financial Group, Inc. (a)		3,076		36,821
				2,435,757
BEVERAGES — 1.4%
Asahi Group Holdings, Ltd.		3,884		122,659
Ito En, Ltd. (a)		2,056		53,325
Kirin Holdings Co., Ltd. (a)		9,207		126,095
Suntory Beverage & Food, Ltd.		1,400		61,914
Takara Holdings, Inc.		3,479		26,723
				390,716
BIOTECHNOLOGY — 0.0% (b)
Takara Bio, Inc.		500		5,038
BUILDING PRODUCTS — 1.3%
Aica Kogyo Co., Ltd.		384		7,632
Asahi Glass Co., Ltd. (a)		9,299		53,802
Daikin Industries, Ltd.		2,132		157,753
LIXIL Group Corp. (a)		2,672		59,973
Nippon Sheet Glass Co., Ltd. (a) (c)		9,000		7,332
TOTO, Ltd. (a)		2,200		78,366
				364,858
CAPITAL MARKETS — 1.2%
Daiwa Securities Group, Inc.		12,482		77,282
Jafco Co., Ltd.		312		12,346
Nomura Holdings, Inc.		27,676		156,239
Okasan Securities Group, Inc.		3,107		17,950
SBI Holdings, Inc.		2,358		25,894
Tokai Tokyo Financial Holdings, Inc. (a)		5,967		36,756
				326,467
CHEMICALS — 4.2%
Asahi Kasei Corp.		8,859		60,602
Daicel Corp.		3,055		46,068
DIC Corp.		9,391		25,762
Hitachi Chemical Co., Ltd.		1,476		23,754
JSR Corp. (a)		2,060		32,520
Kaneka Corp. (a)		3,224		33,903
Kansai Paint Co., Ltd. (a)		3,092		47,423
Kuraray Co., Ltd. (a)		4,471		54,710
Mitsubishi Chemical Holdings Corp.		9,123		58,722
Mitsubishi Gas Chemical Co., Inc.		3,268		16,898
Mitsui Chemicals, Inc.		8,843		39,843
Nippon Paint Holdings Co., Ltd.		1,200		29,507
Nissan Chemical Industries, Ltd.		2,616		60,216
Nitto Denko Corp.		1,184		87,716
Shin-Etsu Chemical Co., Ltd.		3,620		199,123
Showa Denko KK		11,723		13,838
Sumitomo Chemical Co., Ltd.		14,674		85,510
Teijin, Ltd.		9,367		32,315
Tokai Carbon Co., Ltd. (a)		2,828		8,040
Toray Industries, Inc. (a)		11,758		110,450
Tosoh Corp.		6,599		34,395
Toyobo Co., Ltd.		12,302		17,385
Ube Industries, Ltd. (a)		14,543		31,070
Zeon Corp.		3,132		25,489
				1,175,259

188

SPDR Russell/Nomura PRIME Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMERCIAL SERVICES & SUPPLIES — 1.1%
Aeon Delight Co., Ltd.		300	$	9,689
Dai Nippon Printing Co., Ltd.		5,739		57,488
Daiseki Co., Ltd. (a)		600		9,656
Nissha Printing Co., Ltd.		336		6,578
Park24 Co., Ltd.		1,500		36,523
Secom Co., Ltd.		2,068		141,654
Toppan Printing Co., Ltd.		6,299		58,594
				320,182
COMMUNICATIONS EQUIPMENT — 0.0% (b)
Denki Kogyo Co., Ltd.		2,000		8,978
CONSTRUCTION & ENGINEERING — 1.5%
Chiyoda Corp. (a)		1,688		12,952
COMSYS Holdings Corp. (a)		3,000		42,620
JGC Corp.		2,760		42,744
Kajima Corp.		11,595		69,785
Maeda Corp. (a)		3,855		26,246
Nishimatsu Construction Co., Ltd. (a)		3,000		11,472
Obayashi Corp.		8,679		80,733
Raito Kogyo Co., Ltd.		100		984
Shimizu Corp.		8,559		70,438
Taisei Corp.		8,995		59,820
Tokyu Construction Co., Ltd. (a)		200		1,515
				419,309
CONSTRUCTION MATERIALS — 0.2%
Taiheiyo Cement Corp.		14,607		42,985
CONSUMER FINANCE — 0.4%
Acom Co., Ltd. (a) (c)		300		1,431
AEON Financial Service Co., Ltd.		1,540		34,898
Credit Saison Co., Ltd. (a)		2,064		41,196
J Trust Co., Ltd. (a)		700		5,656
Jaccs Co., Ltd.		3,000		11,098
Orient Corp. (c)		6,001		12,721
				107,000
CONTAINERS & PACKAGING — 0.1%
Toyo Seikan Group Holdings, Ltd. (a)		1,548		29,108
DISTRIBUTORS — 0.1%
Canon Marketing Japan, Inc.		1,492		23,516
DIVERSIFIED CONSUMER SERVICES — 0.1%
Benesse Holdings, Inc.		928		26,923
DIVERSIFIED FINANCIAL SERVICES — 0.9%
Japan Exchange Group, Inc. (a)		4,400		69,862
ORIX Corp.		11,500		163,999
Zenkoku Hosho Co., Ltd.		800		26,767
				260,628
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.9%
Nippon Telegraph & Telephone Corp.		13,200		530,655
ELECTRIC UTILITIES — 1.5%
Chubu Electric Power Co., Inc. (a)		3,563		49,241
Chugoku Electric Power Co., Inc.		2,448		32,560
Hokkaido Electric Power Co., Inc. (c)		1,428		14,803
Hokuriku Electric Power Co.		2,112		31,514
Kansai Electric Power Co., Inc. (c)		7,211		87,489
Kyushu Electric Power Co., Inc. (a) (c)		3,576		39,448
Shikoku Electric Power Co., Inc. (a)		1,472		23,249
Tohoku Electric Power Co., Inc. (a)		4,243		53,613
Tokyo Electric Power Co., Inc. (c)		13,067		75,929
				407,846
ELECTRICAL EQUIPMENT — 1.6%
Fuji Electric Co., Ltd.		9,099		38,651
Fujikura, Ltd.		6,107		33,455
Furukawa Electric Co., Ltd. (a)		5,899		12,603
GS Yuasa Corp.		2,000		7,515
Mitsubishi Electric Corp.		17,974		191,626
Nidec Corp.		1,800		132,230
Ushio, Inc.		1,536		21,426
				437,506
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 5.0%
Alps Electric Co., Ltd.		2,368		65,256
Amano Corp.		1,836		25,137
Anritsu Corp.		100		662
Citizen Holdings Co., Ltd. (a)		4,403		31,990
Hamamatsu Photonics KK (a)		2,300		63,764
Hirose Electric Co., Ltd.		200		24,540
Hitachi, Ltd.		38,933		223,801
Horiba, Ltd. (a)		604		23,574
Ibiden Co., Ltd. (a)		1,496		21,676
Iriso Electronics Co., Ltd.		300		17,008
Japan Aviation Electronics Industry, Ltd.		1,000		14,597
Keyence Corp.		340		189,594
Kyocera Corp.		2,900		136,303
Murata Manufacturing Co., Ltd.		1,628		237,782
Nippon Electric Glass Co., Ltd. (a)		5,548		28,271
Oki Electric Industry Co., Ltd. (a)		9,166		11,582
Omron Corp.		2,080		70,287
Shimadzu Corp.		3,312		56,304
TDK Corp.		1,196		77,748
Yaskawa Electric Corp.		2,604		35,999
Yokogawa Electric Corp.		2,964		36,097
				1,391,972
FOOD & STAPLES RETAILING — 2.0%
Aeon Co., Ltd.		6,603		102,535
Cawachi, Ltd.		648		12,724
Cosmos Pharmaceutical Corp. (a)		200		31,755
FamilyMart Co., Ltd.		552		25,880
Lawson, Inc.		600		49,129
Matsumotokiyoshi Holdings Co., Ltd.		200		10,308
Seven & i Holdings Co., Ltd.		6,639		306,301
UNY Group Holdings Co., Ltd. (a)		3,000		19,028
				557,660
FOOD PRODUCTS — 1.7%
Ajinomoto Co., Inc.		6,003		143,694
Hokuto Corp.		600		11,621
Kikkoman Corp. (a)		2,256		79,235
MEIJI Holdings Co., Ltd.		1,200		100,254
Nissin Foods Holdings Co., Ltd.		940		50,245
Sakata Seed Corp. (a)		1,884		44,854
Yakult Honsha Co., Ltd. (a)		864		42,807
				472,710
GAS UTILITIES — 0.7%
Osaka Gas Co., Ltd.		18,150		66,145
Saibu Gas Co., Ltd. (a)		15,273		35,550
Tokyo Gas Co., Ltd.		20,873		99,042
				200,737
HEALTH CARE EQUIPMENT & SUPPLIES — 1.6%
Asahi Intecc Co., Ltd.		1,000		46,469
Hoya Corp.		3,932		162,810

189

SPDR Russell/Nomura PRIME Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Nakanishi, Inc.		500	$	19,556
Olympus Corp.		1,542		61,529
Sysmex Corp. (a)		1,200		78,108
Terumo Corp.		2,900		91,126
				459,598
HEALTH CARE PROVIDERS & SERVICES — 0.5%
BML, Inc.		300		9,065
Medipal Holdings Corp.		1,792		30,896
Miraca Holdings, Inc.		936		41,628
Nichii Gakkan Co. (a)		300		2,195
Suzuken Co., Ltd.		900		34,602
Tsukui Corp.		1,400		15,490
				133,876
HEALTH CARE TECHNOLOGY — 0.0% (b)
M3, Inc. (a)		400		8,386
HOTELS, RESTAURANTS & LEISURE — 0.5%
Oriental Land Co., Ltd.		2,400		146,380
Round One Corp.		1,200		5,457
				151,837
HOUSEHOLD DURABLES — 2.9%
Casio Computer Co., Ltd. (a)		3,348		79,237
Fujitsu General, Ltd.		1,000		12,893
Funai Electric Co., Ltd.		595		5,045
Haseko Corp.		2,700		30,256
Nikon Corp. (a)		2,740		37,013
Panasonic Corp.		18,981		195,735
Pioneer Corp. (a) (c)		3,560		9,914
Sangetsu Co., Ltd.		500		9,219
Sekisui Chemical Co., Ltd.		3,079		40,722
Sekisui House, Ltd.		5,679		96,613
Sharp Corp. (a) (c)		8,519		8,852
Sony Corp.		10,211		254,819
Sumitomo Forestry Co., Ltd.		2,068		28,245
				808,563
HOUSEHOLD PRODUCTS — 0.2%
Pigeon Corp. (a)		500		12,324
Unicharm Corp.		2,700		55,596
				67,920
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.2%
Electric Power Development Co., Ltd.		1,240		44,582
INDUSTRIAL CONGLOMERATES — 0.5%
Keihan Electric Railway Co., Ltd. (a)		8,747		59,116
Nisshinbo Holdings, Inc. (a)		2,584		27,538
Toshiba Corp. (a) (c)		31,633		65,714
				152,368
INSURANCE — 2.8%
Dai-ichi Life Insurance Co., Ltd.		9,200		155,634
MS&AD Insurance Group Holdings, Inc.		5,336		158,357
Sompo Japan Nipponkoa Holdings, Inc. (a)		3,000		100,029
Sony Financial Holdings, Inc.		2,400		43,473
T&D Holdings, Inc.		6,300		84,265
Tokio Marine Holdings, Inc.		6,447		252,532
				794,290
INTERNET & CATALOG RETAIL — 0.4%
ASKUL Corp.		500		20,138
Rakuten, Inc. (c)		7,700		89,805
				109,943
INTERNET SOFTWARE & SERVICES — 0.5%
DeNA Co., Ltd.		1,200		18,944
F@N Communications, Inc.		600		3,721
Gree, Inc. (a)		900		4,309
Gurunavi, Inc. (a)		600		12,584
Internet Initiative Japan, Inc.		900		18,046
Kakaku.com, Inc.		400		7,960
Mixi, Inc.		300		11,347
Yahoo Japan Corp.		15,500		63,652
				140,563
IT SERVICES — 0.9%
Digital Garage, Inc.		400		7,222
Fujitsu, Ltd.		15,498		78,189
IT Holdings Corp.		1,232		28,502
Itochu Techno-Solutions Corp.		900		18,120
NET One Systems Co., Ltd. (a)		3,000		19,328
Nomura Research Institute, Ltd.		300		11,646
NTT Data Corp.		1,200		58,656
SCSK Corp.		200		8,122
TKC Corp.		600		16,135
				245,920
LEISURE EQUIPMENT & PRODUCTS — 0.9%
Bandai Namco Holdings, Inc.		2,632		56,099
Sankyo Co., Ltd. (a)		940		35,359
Sega Sammy Holdings, Inc.		2,431		22,937
Shimano, Inc.		692		107,342
Yamaha Corp.		1,792		43,930
				265,667
MACHINERY — 5.3%
Amada Holdings Co., Ltd.		2,627		25,419
DMG Mori Co., Ltd.		1,468		17,390
FANUC Corp.		1,680		294,396
Glory, Ltd.		1,544		47,939
IHI Corp.		15,311		42,893
Japan Steel Works, Ltd. (a)		2,708		9,612
JTEKT Corp.		2,108		35,135
Kawasaki Heavy Industries, Ltd.		11,978		45,007
Komatsu, Ltd.		8,139		134,776
Komori Corp. (a)		1,188		14,103
Kubota Corp.		7,663		120,269
Kurita Water Industries, Ltd.		1,476		31,178
Makita Corp. (a)		1,276		74,569
Minebea Co., Ltd. (a)		3,255		28,384
Mitsubishi Heavy Industries, Ltd.		27,676		122,695
Mitsui Engineering & Shipbuilding Co., Ltd. (a)		11,567		19,231
NGK Insulators, Ltd.		2,320		53,113
NSK, Ltd.		3,663		40,377
NTN Corp.		3,495		15,021
OKUMA Corp. (a)		2,648		21,748
OSG Corp. (a)		1,512		28,896
SMC Corp.		620		163,743
Sodick Co., Ltd.		200		1,495
Sumitomo Heavy Industries, Ltd.		5,795		26,399
Takuma Co., Ltd.		3,000		24,764
THK Co., Ltd.		1,500		28,156
Toshiba Machine Co., Ltd. (a)		2,944		10,083
				1,476,791

190

SPDR Russell/Nomura PRIME Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
MARINE — 0.2%
Kawasaki Kisen Kaisha, Ltd.		8,759	$	18,931
Mitsui OSK Lines, Ltd.		6,491		16,566
Nippon Yusen KK		11,995		29,415
				64,912
MEDIA — 0.8%
Adways, Inc.		500		2,606
CyberAgent, Inc. (a)		600		25,088
Dentsu, Inc. (a)		2,400		133,273
Toho Co., Ltd.		2,052		57,315
Usen Corp. (c)		1,670		4,845
				223,127
METALS & MINING — 1.5%
Daido Steel Co., Ltd.		3,199		12,924
Dowa Holdings Co., Ltd.		2,767		20,150
JFE Holdings, Inc. (a)		4,247		67,785
Kobe Steel, Ltd. (a)		18,645		20,614
Mitsubishi Materials Corp.		12,027		38,392
Mitsubishi Steel Manufacturing Co., Ltd.		6,000		11,572
Mitsui Mining & Smelting Co., Ltd.		8,839		16,606
Nippon Steel & Sumitomo Metal Corp.		5,500		110,462
Nippon Yakin Kogyo Co., Ltd. (c)		400		472
Nisshin Steel Co., Ltd.		800		8,572
Sumitomo Metal Mining Co., Ltd.		4,575		56,268
Toho Zinc Co., Ltd. (a)		6,000		14,016
Tokyo Steel Manufacturing Co., Ltd. (a)		244		1,533
Topy Industries, Ltd.		8,000		18,089
Yodogawa Steel Works, Ltd.		1,100		22,284
				419,739
MULTILINE RETAIL — 1.3%
Don Quijote Holdings Co., Ltd.		1,000		35,538
H2O Retailing Corp.		2,700		53,306
Isetan Mitsukoshi Holdings, Ltd.		3,641		48,004
J Front Retailing Co., Ltd.		2,800		41,106
Marui Group Co., Ltd. (a)		3,916		64,390
Ryohin Keikaku Co., Ltd.		336		68,823
Seria Co., Ltd. (a)		400		19,519
Takashimaya Co., Ltd.		3,332		30,302
				360,988
OIL, GAS & CONSUMABLE FUELS — 0.8%
Cosmo Energy Holdings Co., Ltd. (c)		800		10,833
Inpex Corp.		8,900		87,709
JX Holdings, Inc. (a)		21,700		91,710
TonenGeneral Sekiyu KK (a)		2,547		21,639
				211,891
PAPER & FOREST PRODUCTS — 0.2%
Nippon Paper Industries Co., Ltd. (a)		600		9,796
Oji Holdings Corp.		8,839		35,930
				45,726
PERSONAL PRODUCTS — 1.4%
euglena Co., Ltd. (a) (c)		800		12,071
Kao Corp.		4,839		251,614
Kose Corp. (a)		200		18,737
Mandom Corp. (a)		1,316		53,550
Shiseido Co., Ltd. (a)		2,732		57,436
				393,408
PHARMACEUTICALS — 6.2%
Astellas Pharma, Inc.		19,100		274,921
Chugai Pharmaceutical Co., Ltd.		1,616		56,959
Daiichi Sankyo Co., Ltd. (a)		6,051		126,282
Eisai Co., Ltd.		2,340		156,843
Hisamitsu Pharmaceutical Co., Inc.		604		25,607
Kaken Pharmaceutical Co., Ltd.		200		13,816
Kissei Pharmaceutical Co., Ltd.		1,500		38,031
Kyowa Hakko Kirin Co., Ltd.		2,833		45,099
Mitsubishi Tanabe Pharma Corp.		3,000		52,271
Mochida Pharmaceutical Co., Ltd.		600		42,944
Nichi-iko Pharmaceutical Co., Ltd. (a)		300		7,250
Ono Pharmaceutical Co., Ltd.		632		113,954
Otsuka Holdings Co., Ltd. (a)		3,800		136,370
Santen Pharmaceutical Co., Ltd.		4,800		80,043
Seikagaku Corp. (a)		1,200		18,066
Shionogi & Co., Ltd.		2,996		137,055
Sumitomo Dainippon Pharma Co., Ltd. (a)		1,460		17,368
Taisho Pharmaceutical Holdings Co., Ltd. (a)		500		35,662
Takeda Pharmaceutical Co., Ltd.		6,555		330,488
Torii Pharmaceutical Co., Ltd.		300		6,918
Towa Pharmaceutical Co., Ltd. (a)		200		12,569
Tsumura & Co.		100		2,801
				1,731,317
PROFESSIONAL SERVICES — 0.3%
Meitec Corp.		1,212		41,863
Nihon M&A Center, Inc. (a)		600		29,228
				71,091
REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.9%
Daikyo, Inc. (a)		6,256		10,245
Daito Trust Construction Co., Ltd.		864		100,625
Daiwa House Industry Co., Ltd.		4,363		127,051
Heiwa Real Estate Co., Ltd.		1,400		15,490
Hulic Co., Ltd. (a)		800		7,109
Leopalace21 Corp. (a) (c)		1,544		8,445
Mitsubishi Estate Co., Ltd.		10,111		212,104
Mitsui Fudosan Co., Ltd.		7,923		201,278
Sumitomo Realty & Development Co., Ltd.		2,843		82,127
Tokyo Tatemono Co., Ltd.		2,700		29,694
Tokyu Fudosan Holdings Corp.		4,000		25,338
				819,506
ROAD & RAIL — 4.7%
Central Japan Railway Co.		1,300		233,426
East Japan Railway Co.		2,700		256,993
Hankyu Hanshin Holdings, Inc.		12,486		81,894
Keikyu Corp. (a)		6,355		52,987
Keio Corp.		8,000		69,828
Keisei Electric Railway Co., Ltd.		3,147		40,549
Kintetsu Group Holdings Co., Ltd.		18,038		73,924
Nagoya Railroad Co., Ltd. (a)		12,362		51,896
Nankai Electric Railway Co., Ltd.		9,111		54,305
Nippon Express Co., Ltd.		11,555		54,944
Odakyu Electric Railway Co., Ltd.		3,483		37,901
Sotetsu Holdings, Inc. (a)		12,254		71,918
Tobu Railway Co., Ltd.		9,007		44,775
Tokyu Corp.		9,391		74,944
West Japan Railway Co.		1,600		111,645
				1,311,929

191

SPDR Russell/Nomura PRIME Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.6%
Advantest Corp. (a)		1,816	$	15,277
Disco Corp.		284		27,150
Rohm Co., Ltd.		876		45,003
Sanken Electric Co., Ltd. (a)		1,404		4,984
SCREEN Holdings Co., Ltd.		364		2,717
Shinko Electric Industries Co., Ltd. (a)		892		5,799
Sumco Corp. (a)		1,546		11,875
Tokyo Electron, Ltd.		1,000		60,867
				173,672
SOFTWARE — 0.8%
GungHo Online Entertainment, Inc. (a) (c)		3,100		8,478
Konami Holdings Corp. (a)		1,192		28,617
Nexon Co., Ltd.		600		9,871
Nintendo Co., Ltd.		948		132,040
NSD Co., Ltd. (a)		1,400		20,413
Square Enix Holdings Co., Ltd. (a)		596		14,542
Trend Micro, Inc. (c)		568		23,278
				237,239
SPECIALTY RETAIL — 1.7%
Aoyama Trading Co., Ltd. (a)		1,484		57,796
Arcland Sakamoto Co., Ltd.		500		11,650
Autobacs Seven Co., Ltd. (a)		780		14,343
Fast Retailing Co., Ltd.		276		97,831
Gulliver International Co., Ltd. (a)		900		9,075
Hikari Tsushin, Inc.		284		19,477
Jin Co., Ltd. (a)		500		18,621
K’s Holdings Corp. (a)		400		13,733
Nitori Holdings Co., Ltd.		600		51,025
Sanrio Co., Ltd. (a)		648		15,352
Shimachu Co., Ltd.		1,484		34,073
Shimamura Co., Ltd. (a)		332		39,356
USS Co., Ltd.		3,000		45,638
VT Holdings Co., Ltd.		900		5,409
Yamada Denki Co., Ltd.		9,000		39,129
				472,508
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.6%
Brother Industries, Ltd. (a)		2,732		31,841
Canon, Inc. (a)		9,258		282,831
FUJIFILM Holdings Corp.		4,227		178,504
Konica Minolta, Inc.		6,075		61,712
NEC Corp.		17,918		57,346
Ricoh Co., Ltd.		5,555		57,769
Roland DG Corp.		400		8,596
Seiko Epson Corp.		3,200		49,744
Wacom Co., Ltd. (a)		200		801
				729,144
TEXTILES, APPAREL & LUXURY GOODS — 0.3%
Asics Corp. (a)		1,764		37,012
Gunze, Ltd.		6,223		18,364
Japan Wool Textile Co., Ltd.		3,031		22,324
Onward Holdings Co., Ltd. (a)		2,580		16,000
				93,700
TOBACCO — 1.2%
Japan Tobacco, Inc. (a)		9,000		334,503
TRADING COMPANIES & DISTRIBUTORS — 3.2%
Hanwa Co., Ltd.		3,207		14,023
Inaba Denki Sangyo Co., Ltd. (a)		1,356		43,793
ITOCHU Corp.		13,066		156,625
Iwatani Corp.		451		2,347
Kanematsu Corp.		9,000		15,337
Marubeni Corp.		15,402		80,035
Mitsubishi Corp.		11,407		192,306
Mitsui & Co., Ltd.		14,902		179,067
MonotaRO Co., Ltd.		400		11,222
Nishio Rent All Co., Ltd.		400		11,089
Sojitz Corp. (a)		12,828		27,299
Sumitomo Corp. (a)		9,575		98,739
Toyota Tsusho Corp.		1,539		36,449
Yamazen Corp. (a)		4,200		38,894
				907,225
TRANSPORTATION INFRASTRUCTURE — 0.1%
Kamigumi Co., Ltd.		3,395		29,577
Mitsubishi Logistics Corp.		216		2,882
				32,459
WIRELESS TELECOMMUNICATION SERVICES — 3.6%
KDDI Corp.		15,000		393,283
NTT DOCOMO, Inc.		12,600		260,181
SoftBank Group Corp.		7,215		368,202
				1,021,666
TOTAL COMMON STOCKS (Cost $30,519,798)				27,962,602
SHORT-TERM INVESTMENTS — 13.4%
UNITED STATES — 13.4%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e)		10,800		10,800
State Street Navigator Securities Lending Prime Portfolio (d) (f)		3,732,688		3,732,688
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,743,488)				3,743,488
TOTAL INVESTMENTS — 113.1%
(Cost $34,263,286)				31,706,090
LIABILITIES IN EXCESS OF OTHER ASSETS — (13.1)%				(3,668,549	)
NET ASSETS — 100.0%			$	28,037,541

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Amount shown represents less than 0.05% of net assets.

(c) Non-income producing security

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

(f) Investment of cash collateral for securities loaned

192

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.9%
JAPAN — 99.9%
AEROSPACE & DEFENSE — 0.1%
Jamco Corp.		1,000	$	34,000
AIR FREIGHT & LOGISTICS — 0.2%
Kintetsu World Express, Inc.		5,100		90,812
Mitsui-Soko Holdings Co., Ltd.		21,686		62,014
				152,826
AUTO COMPONENTS — 4.2%
Ahresty Corp.		4,300		25,915
Akebono Brake Industry Co., Ltd. (a)		4,400		11,046
Calsonic Kansei Corp.		20,000		179,060
Daido Metal Co., Ltd.		1,900		17,674
Eagle Industry Co., Ltd.		5,000		92,730
Exedy Corp. (a)		3,600		88,014
FCC Co., Ltd. (a)		5,013		107,765
Kasai Kogyo Co., Ltd.		5,300		77,631
Keihin Corp. (a)		7,341		130,471
Kinugawa Rubber Industrial Co., Ltd.		10,000		53,784
KYB Corp. (a)		19,902		60,883
Mitsuba Corp.		5,300		83,226
Musashi Seimitsu Industry Co., Ltd.		4,152		85,632
Nippon Seiki Co., Ltd.		5,000		115,383
Nissin Kogyo Co., Ltd. (a)		7,534		110,228
Pacific Industrial Co., Ltd. (a)		6,400		71,398
Piolax, Inc.		900		51,324
Press Kogyo Co., Ltd. (a)		18,569		81,658
Sanden Holdings Corp.		18,000		58,057
Showa Corp.		8,139		76,522
Tachi-S Co., Ltd.		5,300		85,341
Takata Corp. (a) (b)		4,600		30,859
Tokai Rika Co., Ltd. (a)		7,500		187,664
Topre Corp.		5,834		135,259
Toyoda Gosei Co., Ltd.		9,500		218,596
Toyota Boshoku Corp.		6,800		138,719
TPR Co., Ltd.		3,500		99,942
TS Tech Co., Ltd.		6,200		162,609
Unipres Corp.		5,200		118,961
Yorozu Corp.		1,000		22,977
				2,779,328
AUTOMOBILES — 0.2%
Nissan Shatai Co., Ltd. (a)		9,700		105,955
BANKS — 6.7%
77 Bank, Ltd.		32,000		174,238
Akita Bank, Ltd.		31,000		107,461
Aomori Bank, Ltd. (a)		24,000		77,609
Ashikaga Holdings Co., Ltd.		15,000		58,980
Awa Bank, Ltd.		20,000		117,544
Bank of Iwate, Ltd. (a)		2,856		119,895
Bank of Nagoya, Ltd. (a)		21,000		77,684
Bank of Okinawa, Ltd.		3,300		128,385
Bank of the Ryukyus, Ltd.		7,781		110,478
Chukyo Bank, Ltd.		11,000		21,123
Daishi Bank, Ltd.		37,000		164,861
Eighteenth Bank, Ltd.		17,000		50,027
FIDEA Holdings Co., Ltd.		39,100		88,734
Fukui Bank, Ltd. (a)		50,000		98,092
Fukushima Bank, Ltd. (a)		72,478		58,443
Higashi-Nippon Bank, Ltd.		15,000		50,002
Hokkoku Bank, Ltd.		29,000		97,153
Hokuetsu Bank, Ltd.		50,000		106,405
Hyakugo Bank, Ltd.		34,000		167,039
Hyakujushi Bank, Ltd.		35,000		131,510
Jimoto Holdings, Inc.		25,700		42,942
Juroku Bank, Ltd.		38,000		151,943
Keiyo Bank, Ltd.		35,000		167,588
Kiyo Bank, Ltd. (a)		11,000		160,389
Miyazaki Bank, Ltd.		16,000		51,740
Musashino Bank, Ltd.		5,300		195,840
Nanto Bank, Ltd.		35,000		110,562
North Pacific Bank, Ltd.		43,300		151,538
Ogaki Kyoritsu Bank, Ltd.		30,000		122,200
Oita Bank, Ltd. (a)		12,000		47,084
San-In Godo Bank, Ltd.		14,000		115,217
Senshu Ikeda Holdings, Inc. (a)		38,400		159,608
Shiga Bank, Ltd. (a)		20,000		100,919
Shikoku Bank, Ltd.		42,000		96,014
Shimizu Bank, Ltd. (a)		2,500		61,952
Tochigi Bank, Ltd. (a)		20,846		120,264
Toho Bank, Ltd.		21,000		75,764
Tokyo TY Financial Group, Inc.		3,700		125,030
TOMONY Holdings, Inc.		24,705		95,086
Towa Bank, Ltd.		47,000		42,196
Yamagata Bank, Ltd. (a)		31,000		121,634
Yamanashi Chuo Bank, Ltd. (a)		16,000		82,464
				4,403,637
BEVERAGES — 1.4%
Coca-Cola East Japan Co., Ltd. (a)		8,200		133,128
Coca-Cola West Co., Ltd.		9,100		185,866
Ito En, Ltd. (a)		8,100		210,083
Sapporo Holdings, Ltd. (a)		41,000		181,321
Takara Holdings, Inc.		23,100		177,434
				887,832
BIOTECHNOLOGY — 0.5%
3-D Matrix, Ltd. (b)		3,000		25,263
GNI Group, Ltd. (a) (b)		11,000		17,466
Japan Tissue Engineering Co., Ltd. (a) (b)		1,000		9,119
NanoCarrier Co., Ltd. (a)(b)		3,000		26,086
OncoTherapy Science, Inc. (a) (b)		17,700		45,024
PeptiDream, Inc. (a) (b)		4,000		128,850
ReproCELL, Inc. (a) (b)		8,600		26,166
Takara Bio, Inc. (a)		7,300		73,549
				351,523
BUILDING PRODUCTS — 2.1%
Aica Kogyo Co., Ltd.		5,819		115,659
Bunka Shutter Co., Ltd.		9,577		81,762
Central Glass Co., Ltd.		28,309		131,079
Nichias Corp.		17,000		112,914
Nichiha Corp.		4,600		69,978
Nippon Sheet Glass Co., Ltd. (a) (b)		137,000		111,609
Nitto Boseki Co., Ltd.		20,020		54,421
Noritz Corp. (a)		5,565		85,907
Okabe Co., Ltd.		3,300		25,540
Sankyo Tateyama, Inc.		4,000		51,307
Sanwa Holdings Corp.		28,310		226,866
Sekisui Jushi Corp.		5,100		70,886
Takara Standard Co., Ltd. (a)		11,000		84,309
Takasago Thermal Engineering Co., Ltd. (a)		8,500		125,492
				1,347,729

193

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
CAPITAL MARKETS — 1.7%
Aizawa Securities Co., Ltd.		2,600	$	14,978
Ichigo, Inc. (a)		12,900		40,643
Ichiyoshi Securities Co., Ltd. (a)		7,900		73,290
IwaiCosmo Holdings, Inc.		7,200		84,213
Jafco Co., Ltd.		3,500		138,493
kabu.com Securities Co., Ltd.		11,200		35,380
Kyokuto Securities Co., Ltd.		5,500		69,953
Marusan Securities Co., Ltd. (a)		10,000		105,989
Matsui Securities Co., Ltd.		12,700		117,715
Mito Securities Co., Ltd.		8,200		28,221
Monex Group, Inc. (a)		33,600		88,542
Okasan Securities Group, Inc.		22,447		129,687
Sawada Holdings Co., Ltd.		1,800		17,267
Sparx Group Co., Ltd.		7,500		18,080
Tokai Tokyo Financial Holdings, Inc.		28,221		173,837
				1,136,288
CHEMICALS — 5.4%
Achilles Corp.		60,000		77,809
ADEKA Corp.		9,213		132,648
C Uyemura & Co., Ltd.		976		41,784
Chugoku Marine Paints, Ltd.		6,000		44,491
Dainichiseika Color & Chemicals Manufacturing Co., Ltd.		17,000		80,269
Fujimori Kogyo Co., Ltd.		2,500		65,672
Ihara Chemical Industry Co., Ltd.		7,100		98,507
Ishihara Sangyo Kaisha, Ltd. (b)		55,811		47,787
Kanto Denka Kogyo Co., Ltd.		9,000		60,077
Konishi Co., Ltd.		3,000		67,808
Kumiai Chemical Industry Co., Ltd.		8,600		94,082
Kureha Corp. (a)		20,000		77,809
Lintec Corp.		6,308		134,188
Nihon Nohyaku Co., Ltd. (a)		4,000		25,238
Nihon Parkerizing Co., Ltd.		14,600		150,861
Nippon Kayaku Co., Ltd.		20,000		211,979
Nippon Soda Co., Ltd.		24,065		145,036
Nippon Synthetic Chemical Industry Co., Ltd.		9,000		65,165
Nippon Valqua Industries, Ltd.		29,025		75,762
NOF Corp.		18,731		145,588
Okamoto Industries, Inc. (a)		9,841		90,152
Sakai Chemical Industry Co., Ltd.		8,000		27,200
Sakata INX Corp.		6,100		65,009
Sanyo Chemical Industries, Ltd.		11,000		87,601
Sumitomo Bakelite Co., Ltd. (a)		30,000		125,940
T&K Toka Co., Ltd. (a)		8,200		78,118
Taiyo Holdings Co., Ltd.		3,500		136,020
Taiyo Nippon Sanso Corp.		15,900		145,657
Tenma Corp.		3,500		68,897
Toagosei Co., Ltd. (a)		15,400		133,395
Tokai Carbon Co., Ltd. (a)		30,542		86,831
Tokuyama Corp. (a) (b)		51,000		111,501
Tokyo Ohka Kogyo Co., Ltd.		4,800		154,221
Toyo Ink SC Holdings Co., Ltd.		21,000		86,413
Toyobo Co., Ltd.		102,000		144,146
Zeon Corp.		19,000		154,628
				3,538,289
COMMERCIAL SERVICES & SUPPLIES — 2.0%
Aeon Delight Co., Ltd.		3,700		119,494
Asukanet Co., Ltd.		1,300		16,664
Daiseki Co., Ltd. (a)		7,593		122,200
Duskin Co., Ltd.		6,300		115,374
Itoki Corp.		3,000		21,472
Kokuyo Co., Ltd.		10,300		112,423
Kyodo Printing Co., Ltd.		15,000		41,772
Mitsubishi Pencil Co., Ltd.		1,700		79,421
Nippon Parking Development Co., Ltd. (a)		17,100		19,759
Nissha Printing Co., Ltd.		4,800		93,969
Okamura Corp. (a)		11,184		112,495
Oyo Corp.		1,100		12,509
Pilot Corp.		4,900		203,462
Prestige International, Inc. (a)		1,400		14,292
Relia, Inc.		8,744		75,596
Sato Holdings Corp.		4,100		81,799
Toppan Forms Co., Ltd.		7,300		87,385
				1,330,086
COMMUNICATIONS EQUIPMENT — 0.4%
Denki Kogyo Co., Ltd.		11,303		50,739
Hitachi Kokusai Electric, Inc.		9,634		132,703
Icom, Inc.		3,000		62,821
Japan Radio Co., Ltd.		3,000		9,227
				255,490
CONSTRUCTION & ENGINEERING — 5.7%
Chiyoda Corp. (a)		21,000		161,129
Chudenko Corp. (a)		4,000		89,048
COMSYS Holdings Corp. (a)		12,100		171,902
Daiho Corp. (a)		7,000		33,634
Fudo Tetra Corp. (a)		12,200		14,401
Hazama Ando Corp.		22,000		119,789
Hibiya Engineering, Ltd.		1,200		16,629
Kandenko Co., Ltd.		15,000		101,500
Kumagai Gumi Co., Ltd. (a)		53,000		153,764
Kyowa Exeo Corp. (a)		12,376		128,498
Kyudenko Corp. (a)		5,657		102,329
Maeda Corp. (a)		16,158		110,008
Maeda Road Construction Co., Ltd. (a)		8,000		135,600
Mirait Holdings Corp. (a)		10,900		90,520
Mitsubishi Kakoki Kaisha, Ltd.		11,000		21,946
Nichireki Co., Ltd.		2,000		15,928
Nippo Corp.		6,000		98,358
Nippon Densetsu Kogyo Co., Ltd.		4,700		103,576
Nippon Koei Co., Ltd.		6,000		22,046
Nippon Road Co., Ltd.		15,000		74,567
Nishimatsu Construction Co., Ltd. (a)		43,000		164,429
Okumura Corp. (a)		29,000		164,895
OSJB Holdings Corp.		42,200		85,245
Penta-Ocean Construction Co., Ltd. (a)		38,600		162,685
Raito Kogyo Co., Ltd. (a)		3,700		36,417
Sanki Engineering Co., Ltd.		7,896		68,855
Seikitokyu Kogyo Co., Ltd.		15,100		76,821
SHO-BOND Holdings Co., Ltd. (a)		2,600		95,532
Sumitomo Mitsui Construction Co., Ltd. (a)		126,900		120,259
Taihei Dengyo Kaisha, Ltd. (a)		3,000		31,298
Taikisha, Ltd.		4,900		118,411
Tekken Corp. (a)		11,000		27,524
Toa Corp.		30,000		79,554
TOA ROAD Corp.		17,000		62,604
Tobishima Corp. (a) (b)		27,900		44,994
Toda Corp.		34,000		183,150
Tokyu Construction Co., Ltd.		11,622		88,014
Toshiba Plant Systems & Services Corp.		6,800		75,917
Totetsu Kogyo Co., Ltd.		4,600		116,439

194

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Toyo Construction Co., Ltd.		16,400	$	75,391
Toyo Engineering Corp. (a) (b)		20,000		51,872
Yahagi Construction Co., Ltd. (a)		2,400		16,519
Yokogawa Bridge Holdings Corp. (a)		2,800		32,517
Yurtec Corp.		3,000		28,580
				3,773,094
CONSTRUCTION MATERIALS — 0.4%
Sumitomo Osaka Cement Co., Ltd.		63,000		233,052
CONSUMER FINANCE — 1.0%
Aiful Corp. (a) (b)		41,900		138,976
Hitachi Capital Corp.		7,200		196,018
J Trust Co., Ltd. (a)		10,500		84,842
Jaccs Co., Ltd.		18,000		66,586
Orient Corp. (b)		75,400		159,832
				646,254
CONTAINERS & PACKAGING — 0.6%
FP Corp. (a)		3,900		142,163
Fuji Seal International, Inc. (a)		3,470		105,575
Pack Corp.		2,800		70,876
Rengo Co., Ltd. (a)		25,000		107,652
				426,266
DISTRIBUTORS — 0.5%
Arata Corp.		1,100		23,748
Canon Marketing Japan, Inc.		8,200		129,242
Doshisha Co., Ltd.		4,400		89,247
PALTACCorp.		5,000		89,821
				332,058
DIVERSIFIED CONSUMER SERVICES — 0.1%
JP-Holdings, Inc. (a)		3,600		10,354
Meiko Network Japan Co., Ltd.		6,400		74,537
				84,891
DIVERSIFIED FINANCIAL SERVICES — 0.9%
Century Tokyo Leasing Corp. (a)		4,100		148,431
Financial Products Group Co., Ltd.		5,000		39,736
Fuyo General Lease Co., Ltd.		2,900		138,135
IBJ Leasing Co., Ltd.		4,000		82,364
Japan Securities Finance Co., Ltd.		15,519		79,856
KK daVinci Holdings (b)		262		—
Ricoh Leasing Co., Ltd. (a)		2,967		93,108
				581,630
ELECTRIC UTILITIES — 0.1%
Okinawa Electric Power Co., Inc.		3,000		78,432
ELECTRICAL EQUIPMENT — 2.1%
Daihen Corp.		17,971		85,751
Fujikura, Ltd.		42,000		230,084
Furukawa Electric Co., Ltd. (a)		94,000		200,823
Futaba Corp.		4,000		54,400
GS Yuasa Corp. (a)		44,000		165,327
Idec Corp.		9,400		85,721
Nippon Carbon Co., Ltd. (a)		23,000		58,506
Nissin Electric Co., Ltd.		3,000		24,615
Nitto Kogyo Corp.		4,400		77,835
Sinfonia Technology Co., Ltd.		43,826		72,136
SWCC Showa Holdings Co., Ltd. (a) (b)		61,075		36,047
Tatsuta Electric Wire and Cable Co., Ltd.		7,000		25,429
Toyo Tanso Co., Ltd. (a)		2,400		36,470
Ushio, Inc.		14,200		198,076
				1,351,220
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 4.7%
Ai Holdings Corp.		6,800		174,105
Amano Corp.		8,232		112,707
Anritsu Corp.		23,800		157,684
Arisawa Manufacturing Co., Ltd.		2,000		12,951
Azbil Corp. (a)		7,500		194,210
Canon Electronics, Inc. (a)		3,400		56,499
Daiwabo Holdings Co., Ltd.		23,635		47,547
DDS, Inc. (b)		3,000		10,599
Enplas Corp.		1,100		39,914
Horiba, Ltd. (a)		5,100		199,048
Hosiden Corp. (a)		13,795		78,439
Iriso Electronics Co., Ltd. (a)		1,000		56,694
Japan Aviation Electronics Industry, Ltd.		9,000		131,377
Japan Cash Machine Co., Ltd. (a)		2,924		29,022
Japan Display, Inc. (b)		52,000		151,727
Kaga Electronics Co., Ltd. (a)		1,200		18,056
Koa Corp. (a)		6,791		58,090
Macnica Fuji Electronics Holdings, Inc. (b)		3,000		40,126
Maruwa Co., Ltd.		1,200		26,794
Mitsumi Electric Co., Ltd. (a)		15,500		88,778
Nichicon Corp.		8,700		68,851
Nihon Dempa Kogyo Co., Ltd.		3,595		23,729
Nippon Chemi-Con Corp.		17,432		31,156
Nippon Signal Co., Ltd. (a)		10,700		117,767
Nohmi Bosai, Ltd.		1,500		18,941
Oki Electric Industry Co., Ltd. (a)		124,000		156,682
Optex Co., Ltd. (a)		3,100		77,697
Ryosan Co., Ltd. (a)		4,596		119,203
Ryoyo Electro Corp. (a)		7,104		82,381
Sanshin Electronics Co., Ltd.		5,400		57,055
Shinko Shoji Co., Ltd. (a)		1,600		17,477
Siix Corp. (a)		2,700		83,944
SMK Corp.		5,000		24,980
Tabuchi Electric Co., Ltd. (a)		1,500		9,452
Tachibana Eletech Co., Ltd.		6,100		67,138
Taiyo Yuden Co., Ltd. (a)		14,500		203,225
Tamura Corp.		7,000		21,065
Topcon Corp.		10,200		174,586
Toyo Corp. (a)		7,300		66,631
				3,106,327
ENERGY EQUIPMENT & SERVICES — 0.3%
Japan Drilling Co., Ltd. (a)		1,100		24,278
Modec, Inc. (a)		3,500		49,084
Shinko Plantech Co., Ltd. (a)		11,386		94,461
				167,823
FOOD & STAPLES RETAILING — 3.3%
Ain Holdings, Inc.		3,000		144,644
Arcs Co., Ltd.		4,300		95,619
Axial Retailing, Inc.		2,100		71,050
Belc Co., Ltd.		1,600		58,922
Cawachi, Ltd.		3,535		69,410
Cocokara fine, Inc.		2,300		104,393
Cosmos Pharmaceutical Corp. (a)		1,200		190,532
Create SD Holdings Co., Ltd.		4,200		103,730
Daikokutenbussan Co., Ltd.		2,100		79,779
Heiwado Co., Ltd.		3,700		81,877
Kato Sangyo Co., Ltd.		3,500		81,932
Kobe Bussan Co., Ltd. (a)		1,200		38,555
Kusuri No Aoki Co., Ltd.		2,500		123,031

195

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Life Corp.		800	$	19,951
Ministop Co., Ltd. (a)		3,294		64,130
Okuwa Co., Ltd.		2,000		18,488
San-A Co., Ltd.		2,400		108,733
Sogo Medical Co., Ltd.		500		18,579
United Super Markets Holdings, Inc.		8,000		68,565
UNY Group Holdings Co., Ltd. (a)		29,700		188,379
Valor Holdings Co., Ltd.		5,900		140,027
Welcia Holdings Co., Ltd.		2,300		128,484
Yaoko Co., Ltd.		2,300		97,510
Yokohama Reito Co., Ltd. (a)		8,180		72,148
				2,168,468
FOOD PRODUCTS — 4.2%
Ariake Japan Co., Ltd. (a)		3,564		198,798
Dydo Drinco, Inc.		1,500		69,953
Fuji Oil Holdings, Inc.		8,500		139,341
Fujicco Co., Ltd.		4,157		72,984
Hokuto Corp. (a)		5,221		101,126
House Foods Group, Inc. (a)		7,300		145,156
Itoham Foods, Inc. (a)		10,000		58,273
J-Oil Mills, Inc. (a)		14,000		40,850
Kagome Co., Ltd. (a)		8,600		151,275
Kameda Seika Co., Ltd.		1,500		64,466
Key Coffee, Inc. (a)		3,600		57,758
Kyokuyo Co., Ltd. (a)		35,000		80,594
Marudai Food Co., Ltd. (a)		25,417		98,249
Maruha Nichiro Corp. (a)		7,100		126,129
Megmilk Snow Brand Co., Ltd. (a)		6,800		176,366
Mitsui Sugar Co., Ltd.		19,497		88,170
Morinaga & Co., Ltd.		22,000		117,046
Morinaga Milk Industry Co., Ltd.		30,000		137,662
Nichirei Corp. (a)		29,000		216,484
Nippon Flour Mills Co., Ltd. (a)		16,000		115,582
Nippon Suisan Kaisha, Ltd.		33,375		188,384
Nisshin Oillio Group, Ltd.		18,000		73,769
Prima Meat Packers, Ltd.		10,000		27,100
S Foods, Inc. (a)		2,300		40,515
Sakata Seed Corp. (a)		4,500		107,137
Showa Sangyo Co., Ltd.		11,000		42,246
				2,735,413
GAS UTILITIES — 0.3%
Saibu Gas Co., Ltd. (a)		39,000		90,777
Shizuoka Gas Co., Ltd.		15,519		100,110
				190,887
HEALTH CARE EQUIPMENT & SUPPLIES — 1.9%
CYBERDYNE, Inc. (a) (b)		10,800		183,689
Eiken Chemical Co., Ltd.		3,300		61,531
Fukuda Denshi Co., Ltd.		1,286		70,450
Hogy Medical Co., Ltd. (a)		1,600		80,868
Jeol, Ltd.		7,000		45,970
Mani, Inc. (a)		1,800		34,969
Nagaileben Co., Ltd.		1,800		31,004
Nakanishi, Inc.		3,600		140,804
Nihon Kohden Corp.		9,800		239,511
Nikkiso Co., Ltd. (a)		9,100		72,546
Nipro Corp.		16,100		177,736
Paramount Bed Holdings Co., Ltd.		3,000		107,236
				1,246,314
HEALTH CARE PROVIDERS & SERVICES — 1.0%
A/S One Corp.		2,800		108,001
BML, Inc.		900		27,196
Message Co., Ltd. (a)		1,900		54,491
Nichii Gakkan Co. (a)		6,600		48,281
Ship Healthcare Holdings, Inc.		5,500		137,620
Toho Holdings Co., Ltd. (a)		6,800		166,870
Tokai Corp.		1,800		51,997
Tsukui Corp.		1,700		18,809
Vital KSK Holdings, Inc.		1,800		14,769
				628,034
HOTELS, RESTAURANTS & LEISURE — 4.4%
Accordia Golf Co., Ltd.		12,700		122,677
Colowide Co., Ltd. (a)		11,400		174,561
Create Restaurants Holdings, Inc.		2,800		78,208
Doutor Nichires Holdings Co., Ltd. (a)		4,375		68,010
Fuji Kyuko Co., Ltd.		4,000		38,638
Hiday Hidaka Corp.		1,000		28,846
HIS Co., Ltd.		5,900		199,372
Kisoji Co., Ltd. (a)		4,900		87,984
KNT-CT Holdings Co., Ltd. (b)		10,000		19,535
Kura Corp.		900		36,398
Kyoritsu Maintenance Co., Ltd. (a)		2,000		173,241
Matsuya Foods Co., Ltd.		3,500		83,474
McDonald’s Holdings Co., Japan, Ltd. (a) (b)		7,100		154,637
Monogatari Corp. (a)		1,700		78,008
MOS Food Services, Inc.		3,914		106,070
Ohsho Food Service Corp.		1,700		58,930
Plenus Co., Ltd. (a)		3,700		62,192
Ringer Hut Co., Ltd.		4,600		106,802
Round One Corp.		9,500		43,198
Royal Holdings Co., Ltd. (a)		4,900		91,609
Sagami Chain Co., Ltd. (a)		8,200		87,934
Saizeriya Co., Ltd.		4,600		116,439
Sato Restaurant Systems Co., Ltd.		11,500		86,038
Skylark Co., Ltd. (a)		15,000		195,644
St Marc Holdings Co., Ltd.		3,200		89,513
Tokyo Dome Corp.		28,085		144,517
Tokyotokeiba Co., Ltd. (a)		11,000		24,781
Toridoll.corp		3,800		70,254
Yoshinoya Holdings Co., Ltd. (a)		9,700		125,871
Zensho Holdings Co., Ltd. (a)		12,646		160,000
				2,913,381
HOUSEHOLD DURABLES — 2.3%
Alpine Electronics, Inc.		7,000		110,445
Chofu Seisakusho Co., Ltd. (a)		3,800		91,197
Clarion Co., Ltd.		18,000		65,689
Foster Electric Co., Ltd. (a)		3,600		79,664
Fujitsu General, Ltd.		10,000		128,933
Janome Sewing Machine Co., Ltd. (b)		3,600		23,672
JVC Kenwood Corp. (a)		18,600		51,488
PanaHome Corp. (a)		14,000		106,837
Pioneer Corp. (a) (b)		49,000		136,456
Pressance Corp. (a)		1,700		56,740
Sangetsu Co., Ltd.		9,200		169,630
Starts Corp., Inc.		5,100		99,630
Sumitomo Forestry Co., Ltd.		17,500		239,017
Tamron Co., Ltd.		2,900		54,169

196

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Token Corp.		1,280	$	99,489
Zojirushi Corp. (a)		2,000		28,763
				1,541,819
HOUSEHOLD PRODUCTS — 0.2%
Earth Chemical Co., Ltd.		2,500		103,184
INDUSTRIAL CONGLOMERATES — 0.2%
Katakura Industries Co., Ltd. (a)		4,980		54,024
TOKAI Holdings Corp.		12,900		60,696
				114,720
INSURANCE — 0.0% (c)
Anicom Holdings, Inc. (b)		1,000		27,058
INTERNET & CATALOG RETAIL — 0.4%
ASKUL Corp.		3,500		140,966
Belluna Co., Ltd.		9,800		54,582
Ikyu Corp. (a)		1,200		34,066
Senshukai Co., Ltd. (a)		9,924		65,998
				295,612
INTERNET SOFTWARE & SERVICES — 1.5%
Access Co., Ltd. (b)		3,200		15,934
Ateam, Inc. (a)		2,000		29,444
COOKPAD, Inc. (a) (b)		6,300		135,746
CROOZ, Inc. (a)		800		19,552
Dip Corp.		4,200		87,181
F@N Communications, Inc. (a)		5,900		36,588
GMO internet, Inc. (a)		9,600		127,846
Gree, Inc.		12,500		59,853
Gurunavi, Inc.		2,900		60,823
Infomart Corp.		3,100		30,795
Internet Initiative Japan, Inc.		3,500		70,178
Mixi, Inc.		6,200		234,507
SMS Co., Ltd.		2,100		44,393
UNITED, Inc.		1,200		15,392
V-Cube, Inc. (a) (b)		2,000		16,875
				985,107
IT SERVICES — 1.8%
Digital Garage, Inc.		4,600		83,056
DTS Corp.		4,732		108,569
GMO Payment Gateway, Inc.		2,000		96,263
Ines Corp.		10,060		94,834
Information Services International-Dentsu, Ltd.		2,400		46,665
Itochu Techno-Solutions Corp.		7,200		144,964
LAC Co., Ltd. (a)		1,500		18,318
NEC Networks & System Integration Corp.		4,100		73,142
NET One Systems Co., Ltd. (a)		13,000		83,752
Nihon Unisys, Ltd. (a)		6,100		67,950
NS Solutions Corp.		6,600		151,976
TKC Corp.		2,100		56,474
Transcosmos, Inc.		4,967		128,825
				1,154,788
LEISURE EQUIPMENT & PRODUCTS — 0.6%
Fields Corp.		3,600		62,726
Heiwa Corp. (a)		7,700		145,237
Mars Engineering Corp.		4,300		73,207
Mizuno Corp. (a)		8,000		38,439
Tomy Co., Ltd.		12,300		81,185
				400,794
LIFE SCIENCES TOOLS & SERVICES — 0.1%
CMIC Holdings Co., Ltd. (a)		1,300		16,653
EPS Holdings, Inc. (a)		4,800		53,309
Medinet Co., Ltd. (a) (b)		7,100		8,204
				78,166
MACHINERY — 7.3%
Aida Engineering, Ltd.		7,500		78,245
Anest Iwata Corp.		8,100		69,220
Asahi Diamond Industrial Co., Ltd. (a)		6,442		69,778
Bando Chemical Industries, Ltd.		17,000		71,508
CKD Corp.		9,805		99,032
Daifuku Co., Ltd.		10,981		189,414
DMG Mori Co., Ltd.		14,600		172,950
Fuji Machine Manufacturing Co., Ltd.		11,242		119,714
Fujitec Co., Ltd. (a)		11,200		116,194
Furukawa Co., Ltd.		49,280		102,415
Glory, Ltd.		8,100		251,494
Harmonic Drive Systems, Inc. (a)		2,500		54,782
Hitachi Koki Co., Ltd.		6,600		47,733
Hitachi Zosen Corp.		22,500		124,756
Hosokawa Micron Corp.		15,000		77,185
Iseki & Co., Ltd. (a)		22,000		34,565
Japan Steel Works, Ltd. (a)		50,000		177,480
Juki Corp. (a)		4,800		43,373
Kato Works Co., Ltd.		11,000		48,556
Kitz Corp.		10,402		47,213
Komori Corp. (a)		8,240		97,816
Kyokuto Kaihatsu Kogyo Co., Ltd. (a)		4,840		54,317
Makino Milling Machine Co., Ltd. (a)		11,739		89,583
Meidensha Corp. (a)		25,000		101,833
METAWATER Co., Ltd. (a)		2,000		49,312
Mitsuboshi Belting, Ltd.		9,000		72,422
Mitsui Engineering & Shipbuilding Co., Ltd. (a)		90,000		149,632
Miura Co., Ltd. (a)		10,000		143,231
Morita Holdings Corp.		7,200		78,766
Nachi-Fujikoshi Corp.		19,418		90,072
Namura Shipbuilding Co., Ltd. (a)		4,800		40,022
Nihon Trim Co., Ltd. (a)		500		17,561
Nippon Thompson Co., Ltd.		11,511		50,429
Nitta Corp.		3,700		102,269
Obara Group, Inc. (a)		1,200		44,092
Oiles Corp. (a)		3,900		68,342
OKUMA Corp. (a)		18,192		149,414
OSG Corp. (a)		11,100		212,136
Ryobi, Ltd.		15,723		67,312
Shibuya Kogyo Co., Ltd.		1,100		16,478
Shima Seiki Manufacturing, Ltd. (a)		5,400		86,951
Shinmaywa Industries, Ltd.		15,000		135,916
Sintokogio, Ltd.		7,819		64,024
Sodick Co., Ltd.		7,000		52,313
Star Micronics Co., Ltd. (a)		6,069		80,066
Tadano, Ltd.		10,913		133,901
Takeuchi Manufacturing Co., Ltd.		3,300		68,005
Takuma Co., Ltd.		7,000		57,783
Teikoku Sen-I Co., Ltd. (a)		1,900		24,497
Tocalo Co., Ltd.		3,800		79,320
Toshiba Machine Co., Ltd. (a)		20,009		68,529
Tsubakimoto Chain Co.		15,124		117,929
Tsugami Corp.		12,000		52,571
Tsukishima Kikai Co., Ltd. (a)		6,400		58,629

197

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Tsurumi Manufacturing Co., Ltd.		1,000	$	16,576
YAMABIKO Corp.		2,000		17,008
				4,804,664
MARINE — 0.1%
Iino Kaiun Kaisha, Ltd. (a)		17,506		73,199
MEDIA — 2.5%
Adways, Inc. (a)		2,100		10,946
Amuse, Inc.		400		18,388
Asatsu-DK, Inc. (a)		3,700		90,458
Avex Group Holdings, Inc. (a)		5,592		66,986
Daiichikosho Co., Ltd.		6,281		250,885
Kadokawa Dwango (b)		5,800		87,703
Next Co., Ltd.		5,900		73,226
Septeni Holdings Co., Ltd.		1,700		37,888
Shochiku Co., Ltd.		17,243		165,557
SKY Perfect JSAT Holdings, Inc.		25,200		143,288
Toei Co., Ltd.		11,000		108,541
Tokyo Broadcasting System Holdings, Inc.		10,100		162,043
TV Asahi Holdings Corp.		8,400		146,640
Tv Tokyo Holdings Corp.		3,000		57,010
Usen Corp. (b)		11,680		33,886
Wowow, Inc.		2,600		66,029
Zenrin Co., Ltd. (a)		5,924		121,735
				1,641,209
METALS & MINING — 2.9%
Aichi Steel Corp. (a)		19,000		90,029
Asahi Holdings, Inc. (a)		6,500		102,340
Daido Steel Co., Ltd.		39,000		157,563
Godo Steel, Ltd.		20,440		40,950
Kyoei Steel, Ltd.		3,000		54,242
Maruichi Steel Tube, Ltd.		4,800		143,248
Mitsubishi Steel Manufacturing Co., Ltd.		31,000		59,786
Mitsui Mining & Smelting Co., Ltd. (a)		85,000		159,691
Nippon Denko Co., Ltd. (a)(b)		23,600		43,160
Nippon Light Metal Holdings Co., Ltd.		69,500		124,793
Nippon Yakin Kogyo Co., Ltd. (a) (b)		18,000		21,248
Nisshin Steel Co., Ltd.		8,400		90,009
OSAKA Titanium Technologies Co., Ltd. (a)		3,600		74,936
Pacific Metals Co., Ltd. (a) (b)		15,000		42,271
Sanyo Special Steel Co., Ltd. (a)		18,750		89,935
Toho Titanium Co., Ltd. (a)(b)		5,800		47,877
Toho Zinc Co., Ltd. (a)		20,796		48,578
Tokyo Steel Manufacturing Co., Ltd. (a)		11,400		71,644
Tokyo Tekko Co., Ltd.		4,000		18,055
Topy Industries, Ltd.		27,000		61,050
Toyo Kohan Co., Ltd.		4,000		14,198
UACJ Corp. (a)		34,000		80,552
Yamato Kogyo Co., Ltd.		5,700		146,889
Yodogawa Steel Works, Ltd. (a)		4,800		97,241
				1,880,285
MULTILINE RETAIL — 0.6%
Fuji Co., Ltd.		2,900		59,208
Izumi Co., Ltd.		4,000		156,615
Matsuya Co., Ltd. (a)		5,308		54,979
Seria Co., Ltd.		2,200		107,353
				378,155
OIL, GAS & CONSUMABLE FUELS — 0.8%
Cosmo Energy Holdings Co., Ltd. (b)		8,000		108,334
Idemitsu Kosan Co., Ltd.		7,600		122,439
Itochu Enex Co., Ltd.		9,104		70,383
Japan Petroleum Exploration Co., Ltd.		4,500		122,137
Nippon Gas Co., Ltd.		3,700		91,719
San-Ai Oil Co., Ltd.		4,000		32,886
				547,898
PAPER & FOREST PRODUCTS — 0.4%
Daio Paper Corp. (a)		11,940		103,425
Hokuetsu Kishu Paper Co., Ltd. (a)		15,900		94,373
Mitsubishi Paper Mills, Ltd. (a) (b)		19,000		13,741
Tokushu Tokai Paper Co., Ltd. (a)		8,000		24,673
				236,212
PERSONAL PRODUCTS — 1.1%
Aderans Co., Ltd. (a)		4,604		31,996
Ci:z Holdings Co., Ltd. (a)		6,000		104,443
euglena Co., Ltd. (a) (b)		7,300		110,142
Fancl Corp.		6,900		96,248
Mandom Corp. (a)		3,145		127,975
Milbon Co., Ltd.		1,300		53,386
Noevir Holdings Co., Ltd.		2,200		64,009
Pola Orbis Holdings, Inc. (a)		2,500		166,674
				754,873
PHARMACEUTICALS — 2.4%
ASKA Pharmaceutical Co., Ltd.		2,100		26,098
Daito Pharmaceutical Co., Ltd.		2,900		84,255
JCR Pharmaceuticals Co., Ltd.		1,200		26,385
Kissei Pharmaceutical Co., Ltd.		3,400		86,205
KYORIN Holdings, Inc.		7,000		147,338
Mochida Pharmaceutical Co., Ltd. (a)		2,400		171,778
Nichi-iko Pharmaceutical Co., Ltd. (a)		5,965		144,148
Seikagaku Corp.		5,600		84,306
Sosei Group Corp. (a)		1,800		148,884
Sumitomo Dainippon Pharma Co., Ltd. (a)		15,900		189,142
Torii Pharmaceutical Co., Ltd.		2,200		50,732
Towa Pharmaceutical Co., Ltd.		1,400		87,984
Tsumura & Co. (a)		9,200		257,733
ZERIA Pharmaceutical Co., Ltd. (a)		5,200		69,596
				1,574,584
PROFESSIONAL SERVICES — 1.5%
Benefit One, Inc. (a)		1,200		28,390
en-japan, Inc. (a)		1,100		40,783
Funai Soken Holdings, Inc.		5,280		75,846
Meitec Corp.		4,844		167,312
Nihon M&A Center, Inc. (a)		4,100		199,726
Nomura Co., Ltd. (a)		7,300		113,540
Outsourcing, Inc.		2,500		66,295
Tanseisha Co., Ltd. (a)		2,300		18,756
TechnoPro Holdings, Inc.		6,000		177,314
Weathernews, Inc.		1,700		58,436
Yumeshin Holdings Co., Ltd.		1,500		7,619
				954,017
REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.3%
Daibiru Corp.		10,026		83,595
Daikyo, Inc. (a)		35,352		57,894
Goldcrest Co., Ltd.		3,409		62,628
Heiwa Real Estate Co., Ltd.		7,600		84,090

198

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Kabuki-Za Co., Ltd.		1,000	$	41,648
Kenedix, Inc. (a)		32,700		119,062
Leopalace21 Corp. (b)		36,200		198,010
NTT Urban Development Corp.		15,400		149,782
Open House Co., Ltd.		4,800		93,610
Raysum Co., Ltd. (a)		1,100		9,501
Relo Holdings, Inc.		1,800		219,810
Shinoken Group Co., Ltd.		1,100		21,032
Sumitomo Real Estate Sales Co., Ltd.		1,100		25,466
Sun Frontier Fudousan Co., Ltd. (a)		1,600		11,877
Takara Leben Co., Ltd. (a)		14,800		83,169
TOC Co., Ltd.		10,000		88,698
Tosei Corp.		9,900		63,205
Unizo Holdings Co., Ltd.		1,800		73,095
				1,486,172
ROAD & RAIL — 1.7%
Fukuyama Transporting Co., Ltd. (a)		11,000		54,865
Hamakyorex Co., Ltd.		4,800		90,378
Hitachi Transport System, Ltd.		8,000		141,120
Nikkon Holdings Co., Ltd.		6,900		138,981
Nishi-Nippon Railroad Co., Ltd. (a)		28,000		165,726
Sankyu, Inc.		35,830		184,966
Seino Holdings Co., Ltd.		19,000		199,958
Senko Co., Ltd.		15,000		101,999
Trancom Co., Ltd.		700		39,162
				1,117,155
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.6%
Advantest Corp. (a)		26,800		225,459
Ferrotec Corp.		2,800		33,425
Lasertec Corp.		4,900		56,253
Micronics Japan Co., Ltd. (a)		4,400		46,818
Renesas Electronics Corp. (a) (b)		3,200		20,483
Sanken Electric Co., Ltd. (a)		17,000		60,343
SCREEN Holdings Co., Ltd.		29,000		216,484
Shindengen Electric Manufacturing Co., Ltd.		7,000		28,106
Shinko Electric Industries Co., Ltd. (a)		11,200		72,808
Tokyo Seimitsu Co., Ltd.		6,600		148,191
Ulvac, Inc.		4,902		140,383
UT Group Co., Ltd. (b)		2,200		10,735
				1,059,488
SOFTWARE — 1.9%
Broadleaf Co., Ltd. (a)		2,900		28,784
Capcom Co., Ltd.		6,800		165,457
COLOPL, Inc.		5,800		115,523
Fuji Soft, Inc. (a)		3,574		79,148
GungHo Online Entertainment, Inc. (a) (b)		61,800		169,019
Justsystems Corp.		2,800		21,833
KLab, Inc. (a) (b)		4,600		30,668
Koei Tecmo Holdings Co., Ltd.		8,200		122,903
Marvelous, Inc. (a)		2,300		17,667
NSD Co., Ltd. (a)		9,200		134,143
OBIC Business Consultants Co., Ltd.		1,800		101,750
Oracle Corp. Japan (a)		5,600		263,020
				1,249,915
SPECIALTY RETAIL — 4.1%
Adastria Co., Ltd.		2,350		132,840
AOKI Holdings, Inc.		6,100		80,272
Arcland Sakamoto Co., Ltd.		2,700		62,913
AT-Group Co., Ltd.		1,000		21,198
Autobacs Seven Co., Ltd.		7,188		132,174
Bic Camera, Inc. (a)		10,800		93,460
Chiyoda Co., Ltd.		3,213		100,828
DCM Holdings Co., Ltd.		14,600		106,683
EDION Corp. (a)		11,150		84,903
Geo Holdings Corp. (a)		6,300		100,029
Gulliver International Co., Ltd. (a)		9,600		96,802
Hikari Tsushin, Inc.		2,600		178,312
Honeys Co., Ltd.		3,000		26,011
Jin Co., Ltd. (a)		1,200		44,690
Joshin Denki Co., Ltd.		8,000		71,757
Joyful Honda Co., Ltd.		3,000		61,499
K’s Holdings Corp. (a)		5,900		202,560
Kohnan Shoji Co., Ltd. (a)		6,000		84,792
Komeri Co., Ltd.		5,230		108,691
Laox Co., Ltd. (a) (b)		30,000		58,356
Pal Co., Ltd.		2,100		50,887
Sac’s Bar Holdings, Inc. (a)		3,700		54,595
Sanrio Co., Ltd. (a)		6,700		158,735
Shimachu Co., Ltd.		8,200		188,274
T-Gaia Corp.		4,300		49,400
United Arrows, Ltd.		3,029		131,438
VT Holdings Co., Ltd.		13,000		78,133
Xebio Holdings Co., Ltd. (a)		4,561		86,863
Yellow Hat, Ltd.		1,000		20,641
				2,667,736
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.8%
Eizo Corp. (a)		3,800		91,956
Hitachi Maxell, Ltd. (a)		6,300		113,017
Japan Digital Laboratory Co., Ltd.		4,700		64,388
Riso Kagaku Corp. (a)		4,700		77,164
Roland DG Corp.		1,000		21,489
Toshiba TEC Corp. (a)		21,000		75,589
Wacom Co., Ltd. (a)		20,900		83,743
				527,346
TEXTILES, APPAREL & LUXURY GOODS — 1.5%
Descente, Ltd.		5,000		64,092
Fujibo Holdings, Inc.		8,000		14,963
Gunze, Ltd.		23,348		68,902
Japan Wool Textile Co., Ltd.		9,170		67,539
Kurabo Industries, Ltd.		29,000		49,902
Onward Holdings Co., Ltd. (a)		19,000		117,827
Sanyo Shokai, Ltd. (a)		17,516		42,227
Seiko Holdings Corp.		20,649		117,926
Seiren Co., Ltd.		9,400		102,678
TSI Holdings Co., Ltd. (a)		13,500		93,034
Unitika, Ltd. (a) (b)		87,084		41,263
Wacoal Holdings Corp. (a)		11,000		132,591
Yondoshi Holdings, Inc. (a)		3,300		73,574
				986,518
TRADING COMPANIES & DISTRIBUTORS — 2.7%
Hanwa Co., Ltd.		28,032		122,572
Inaba Denki Sangyo Co., Ltd. (a)		3,863		124,758
Inabata & Co., Ltd.		9,475		96,802
Iwatani Corp. (a)		26,422		137,497
Japan Pulp & Paper Co., Ltd.		21,000		58,656
Kanamoto Co., Ltd.		3,000		76,686
Kanematsu Corp.		61,000		103,953
Kuroda Electric Co., Ltd.		7,000		130,637

199

SPDR Russell/Nomura Small Cap Japan ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Mitani Corp.		1,200	$	29,976
MonotaRO Co., Ltd.		8,600		241,282
Nagase & Co., Ltd.		10,700		136,713
Nippon Steel & Sumikin Bussan Corp.		23,000		79,347
Nishio Rent All Co., Ltd.		1,800		49,902
Okaya & Co., Ltd.		700		48,880
Trusco Nakayama Corp.		2,900		113,907
Wakita & Co., Ltd.		7,200		62,726
Yamazen Corp.		10,600		98,162
Yuasa Trading Co., Ltd.		3,700		92,427
				1,804,883
TRANSPORTATION INFRASTRUCTURE — 0.1%
Sumitomo Warehouse Co., Ltd.		18,563		99,377
WIRELESS TELECOMMUNICATION SERVICES — 0.1%
Japan Communications, Inc. (a) (b)		16,800		37,847
Okinawa Cellular Telephone Co.		1,000		27,350
WirelessGate, Inc.		1,000		14,963
				80,160
TOTAL COMMON STOCKS (Cost $67,601,696)				65,611,621
SHORT-TERM INVESTMENTS — 21.3%
UNITED STATES — 21.3%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e)		469		469
State Street Navigator Securities Lending Prime Portfolio (d) (f)		14,009,652		14,009,652
TOTAL SHORT-TERM INVESTMENTS (Cost $14,010,121)				14,010,121
TOTAL INVESTMENTS — 121.2% (Cost $81,611,817)				79,621,742
LIABILITIES IN EXCESS OF OTHER ASSETS — (21.2)%				(13,950,966	)
NET ASSETS — 100.0%			$	65,670,776

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Amount shown represents less than 0.05% of net assets.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

(f) Investment of cash collateral for securities loaned

200

SPDR S&P Global Dividend ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 6.4%
APA Group		154,547	$	975,985
BHP Billiton PLC		53,318		597,249
Challenger, Ltd.		136,882		868,412
Coca-Cola Amatil, Ltd.		168,253		1,138,436
Sonic Healthcare, Ltd.		49,487		643,396
South32, Ltd. (a)		53,350		41,282
Woolworths, Ltd. (b)		35,732		636,922
				4,901,682
BRAZIL — 0.8%
Natura Cosmeticos SA		102,041		605,862
CANADA — 14.6%
Bank of Montreal		10,444		587,047
Bank of Nova Scotia		12,834		517,111
Canadian Imperial Bank of Commerce (b)		9,198		603,819
Cominar Real Estate Investment Trust		83,089		879,879
Emera, Inc.		24,768		770,802
Enbridge Income Fund Holdings, Inc. (b)		22,904		462,169
Fortis, Inc.		21,535		579,961
Great-West Lifeco, Inc.		23,204		576,801
IGM Financial, Inc. (b)		22,833		580,893
Labrador Iron Ore Royalty Corp. (b)		73,239		505,624
National Bank of Canada (b)		18,083		524,747
Power Corp. of Canada		24,506		510,549
Power Financial Corp. (b)		22,832		522,846
RioCan Real Estate Investment Trust		37,587		641,017
Rogers Communications, Inc. Class B		22,119		759,858
Royal Bank of Canada		9,925		529,795
Shaw Communications, Inc. Class B (b)		29,239		500,963
TELUS Corp.		22,036		606,938
Vermilion Energy, Inc. (b)		20,748		561,754
				11,222,573
CHINA — 1.2%
Jiangsu Expressway Co., Ltd. Class H		674,000		909,665
FINLAND — 2.1%
Fortum Oyj		56,162		849,242
Konecranes Oyj (b)		31,246		777,284
				1,626,526
FRANCE — 6.2%
Klepierre		15,837		705,181
Neopost SA		32,365		790,003
Sanofi		8,082		690,067
TOTAL SA		22,686		1,016,927
Unibail-Rodamco SE		2,539		646,502
Vinci SA		14,006		899,798
				4,748,478
GERMANY — 3.9%
Bilfinger SE (b)		23,212		1,096,105
Deutsche EuroShop AG		12,973		570,185
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		3,604		722,518
Siemens AG		6,209		606,226
				2,995,034
HONG KONG — 1.7%
CLP Holdings, Ltd. (b)		87,000		739,205
Sino Land Co., Ltd.		410,887		602,269
				1,341,474
ITALY — 3.3%
Atlantia SpA		31,629		841,785
Hera SpA		393,561		1,047,437
Tod’s SpA (b)		8,031		637,294
				2,526,516
JAPAN — 3.2%
Canon, Inc. (b)		27,100		827,902
TonenGeneral Sekiyu K.K.		87,000		739,133
UNY Group Holdings Co., Ltd. (b)		146,700		930,480
				2,497,515
MALAYSIA — 0.4%
AMMB Holdings Bhd		333,100		351,448
NORWAY — 2.6%
Orkla ASA		141,739		1,122,530
Statoil ASA (b)		63,128		882,231
				2,004,761
PORTUGAL — 1.4%
EDP — Energias de Portugal SA		289,512		1,044,444
SINGAPORE — 1.0%
Singapore Telecommunications, Ltd. (b)		295,900		765,483
SOUTH AFRICA — 2.8%
Foschini Group, Ltd.		59,308		466,105
MTN Group, Ltd.		54,173		464,590
Standard Bank Group, Ltd.		49,485		362,463
Truworths International, Ltd.		145,112		853,600
				2,146,758
SOUTH KOREA — 1.4%
KT&G Corp.		11,827		1,054,046
SPAIN — 2.0%
Abertis Infraestructuras SA		41,946		656,605
Enagas SA		31,569		891,629
				1,548,234
SWEDEN — 2.1%
Skanska AB Class B		35,225		688,573
TeliaSonera AB		187,741		939,529
				1,628,102
SWITZERLAND — 3.5%
Baloise Holding AG		4,618		588,668
PSP Swiss Property AG (a)		6,082		534,681
Swiss Prime Site AG (a)		9,362		734,183
Syngenta AG		2,117		829,670
				2,687,202
TAIWAN — 0.7%
Simplo Technology Co., Ltd.		178,000		569,002
THAILAND — 0.7%
Advanced Info Service PCL		127,600		538,980
UNITED KINGDOM — 13.9%
Aberdeen Asset Management PLC (b)		105,793		451,257
Amec Foster Wheeler PLC		80,504		508,911
Amlin PLC		122,815		1,201,048
BAE Systems PLC		113,253		833,950
British American Tobacco PLC		14,864		826,153
Carillion PLC (b)		205,695		918,314

201

SPDR S&P Global Dividend ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Centrica PLC		304,745	$	979,626
GlaxoSmithKline PLC		52,103		1,054,390
Sky PLC		51,793		848,875
Tate & Lyle PLC		94,290		832,454
UBM PLC		147,519		1,144,760
WM Morrison Supermarkets PLC (b)		487,457		1,064,762
				10,664,500
UNITED STATES — 23.6%
AT&T, Inc. (b)		33,549		1,154,421
CME Group, Inc.		8,529		772,728
Consolidated Edison, Inc.		11,005		707,291
Darden Restaurants, Inc. (b)		12,708		808,737
Entergy Corp. (b)		8,560		585,162
Four Corners Property Trust, Inc. (a)		4,235		102,318
HollyFrontier Corp.		55,566		2,216,528
Mattel, Inc. (b)		35,664		968,991
National Health Investors, Inc. (b)		9,785		595,613
New York Community Bancorp, Inc.		67,850		1,107,312
Northwest Natural Gas Co. (b)		14,739		745,941
Old Republic International Corp. (b)		59,253		1,103,883
People’s United Financial, Inc. (b)		51,458		831,047
Pepco Holdings, Inc.		29,547		768,518
PPL Corp.		23,218		792,430
RR Donnelley & Sons Co. (b)		78,838		1,160,495
Southern Co.		16,728		782,703
Talen Energy Corp. (a) (b)		2,888		17,992
Universal Corp. (b)		24,479		1,372,782
Verizon Communications, Inc. (b)		19,874		918,576
Williams Cos., Inc. (b)		24,201		621,966
				18,135,434
TOTAL COMMON STOCKS (Cost $87,391,508)				76,513,719
SHORT-TERM INVESTMENTS — 20.5%
UNITED STATES — 20.5%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d)		75,143		75,143
State Street Navigator Securities Lending Prime Portfolio (d) (e)		15,660,249		15,660,249
TOTAL SHORT-TERM INVESTMENTS (Cost $15,735,392)				15,735,392
TOTAL INVESTMENTS — 120.0% (Cost $103,126,900)				92,249,111
LIABILITIES IN EXCESS OF OTHER ASSETS — (20.0)%				(15,382,819	)
NET ASSETS — 100.0%			$	76,866,292

(a) Non-income producing security

(b) All or a portion of the shares of the security are on loan at December 31, 2015.

(c) The rate shown is the annualized seven-day yield at December 31, 2015.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) Investment of cash collateral for securities loaned

202

SPDR S&P International Dividend ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 25.0%
APA Group		2,356,396	$	14,880,956
ASX, Ltd.		124,937		3,859,525
Australia & New Zealand Banking Group, Ltd.		205,132		4,168,379
Bank of Queensland, Ltd.		495,242		5,022,768
Bendigo & Adelaide Bank, Ltd.		484,136		4,209,186
Commonwealth Bank of Australia		65,936		4,103,023
CSR, Ltd.		3,817,078		8,025,862
Dexus Property Group REIT		1,526,786		8,331,098
DUET Group (a)		6,465,408		10,724,909
Fortescue Metals Group, Ltd. (a)		22,486,189		30,592,876
Genworth Mortgage Insurance Australia, Ltd.		1,787,868		3,590,107
Insurance Australia Group, Ltd.		1,452,583		5,875,957
IOOF Holdings, Ltd. (a)		751,208		5,203,074
National Australia Bank, Ltd.		209,381		4,600,521
Spark Infrastructure Group (a)		5,158,021		7,205,219
Stockland REIT (a)		3,106,818		9,267,498
Suncorp Group, Ltd.		503,078		4,443,415
Tatts Group, Ltd.		3,449,311		11,016,908
Vicinity Centres REIT		4,502,838		9,172,911
Westpac Banking Corp.		204,179		4,985,352
Woodside Petroleum, Ltd.		1,153,984		24,112,768
Woolworths, Ltd. (a)		1,192,161		21,250,240
WorleyParsons, Ltd. (a)		2,106,244		7,095,002
				211,737,554
BELGIUM — 0.9%
bpost SA		297,388		7,297,758
BRAZIL — 0.5%
Cia Energetica de Minas Gerais ADR		3,096,568		4,644,852
CANADA — 8.4%
ARC Resources, Ltd. (a)		983,876		11,828,327
Artis Real Estate Investment Trust		461,150		4,249,312
Cominar Real Estate Investment Trust		593,548		6,285,430
Crescent Point Energy Corp. (a)		1,800,842		20,898,116
Freehold Royalties, Ltd. (a)		482,482		3,772,050
Gibson Energy, Inc. (a)		496,165		4,936,290
Smart Real Estate Investment Trust		245,465		5,334,813
Whitecap Resources, Inc. (a)		2,102,729		13,729,575
				71,033,913
CHINA — 3.8%
Agile Property Holdings, Ltd. (a)		7,054,000		3,931,960
Bank of China, Ltd. Class H		5,974,000		2,667,050
CIFI Holdings Group Co., Ltd.		16,956,088		3,784,963
Country Garden Holdings Co., Ltd. (a)		7,554,200		3,099,599
Evergrande Real Estate Group, Ltd. (a)		10,203,000		8,978,466
Greentown China Holdings, Ltd. (a) (b)		3,494,500		3,471,888
Industrial & Commercial Bank of China, Ltd. Class H		4,144,000		2,502,393
TCL Communication Technology Holdings, Ltd. (a)		4,897,840		3,608,532
				32,044,851
COLOMBIA — 0.4%
Ecopetrol SA ADR (a)		487,619		3,418,209
CZECH REPUBLIC — 0.4%
Komercni banka A/S		18,221		3,625,844
DENMARK — 1.2%
TDC A/S		1,985,399		9,938,844
FINLAND — 5.6%
Elisa Oyj		444,790		16,809,672
Fortum Oyj		1,423,837		21,530,261
Orion Oyj Class B		250,514		8,700,103
				47,040,036
FRANCE — 3.9%
CNP Assurances		195,860		2,646,768
Electricite de France SA		926,075		13,656,386
Fonciere Des Regions		104,273		9,344,921
ICADE		108,415		7,290,038
				32,938,113
GERMANY — 3.7%
Drillisch AG (a)		343,491		14,585,819
Freenet AG		494,847		16,833,451
				31,419,270
HONG KONG — 2.1%
SJM Holdings, Ltd. (a)		15,394,000		10,984,151
Yue Yuen Industrial Holdings, Ltd.		2,023,000		6,878,067
				17,862,218
ITALY — 5.4%
Snam SpA		4,069,424		21,351,572
Terna Rete Elettrica Nazionale SpA		3,708,085		19,157,610
UnipolSai SpA		1,961,577		5,028,832
				45,538,014
NETHERLANDS — 3.0%
BE Semiconductor Industries NV		273,183		5,507,841
Delta Lloyd NV (a)		255,368		1,510,477
Royal Dutch Shell PLC Class A		827,270		18,606,723
				25,625,041
NEW ZEALAND — 1.6%
Spark New Zealand, Ltd.		6,055,414		13,680,270
NORWAY — 0.3%
Gjensidige Forsikring ASA		182,204		2,925,112
PORTUGAL — 2.0%
EDP — Energias de Portugal SA		4,684,275		16,899,002
SINGAPORE — 1.2%
Keppel REIT (a)		6,399,000		4,194,883
StarHub, Ltd. (a)		2,159,300		5,631,699
				9,826,582
SOUTH AFRICA — 3.5%
Barclays Africa Group, Ltd.		238,818		2,211,480
Coronation Fund Managers, Ltd. (a)		726,504		2,480,208
Growthpoint Properties, Ltd.		4,466,539		6,695,989
Kumba Iron Ore, Ltd. (a)		1,139,051		3,028,550
MMI Holdings, Ltd.		1,385,409		1,966,958
MTN Group, Ltd.		224,831		1,928,159
Redefine Properties, Ltd.		11,966,006		7,490,579
Vodacom Group, Ltd.		363,341		3,573,735
				29,375,658
SPAIN — 2.4%
Bolsas y Mercados Espanoles SHMSF SA (a)		78,453		2,647,042

203

SPDR S&P International Dividend ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Enagas SA (a)		636,933	$	17,989,408
				20,636,450
SWEDEN — 4.1%
NCC AB Class B		341,837		10,663,907
Ratos AB Class B (a)		592,285		3,430,512
Swedbank AB Class A		157,932		3,504,979
TeliaSonera AB		3,456,853		17,299,436
				34,898,834
SWITZERLAND — 1.2%
Cembra Money Bank AG (b)		56,752		3,651,178
Swiss Re AG		36,295		3,558,795
Zurich Insurance Group AG (b)		12,223		3,155,268
				10,365,241
THAILAND — 1.4%
Advanced Info Service PCL		22,800		96,307
Advanced Info Service PCL		473,300		1,999,211
BTS Group Holdings PCL		14,649,445		3,704,598
Intouch Holdings PCL NVDR		1,725,462		2,493,373
Krung Thai Bank PCL (a)		7,474,400		3,468,736
Krung Thai Bank PCL		60,800		28,216
				11,790,441
TURKEY — 2.3%
Eregli Demir ve Celik Fabrikalari TAS		4,399,924		4,582,548
Tofas Turk Otomobil Fabrikasi A/S		547,700		3,555,823
Turk Telekomunikasyon A/S		2,109,015		3,945,123
Turkcell Iletisim Hizmetleri A/S		2,233,130		7,574,211
				19,657,705
UNITED KINGDOM — 15.3%
Admiral Group PLC		192,011		4,695,054
Amlin PLC		500,165		4,891,277
Berkeley Group Holdings PLC		505,277		27,465,563
Carillion PLC (a)		1,639,378		7,318,911
National Grid PLC		1,911,597		26,414,092
Phoenix Group Holdings		310,405		4,195,330
Rio Tinto PLC		496,340		14,481,143
SSE PLC		875,266		19,712,036
Vodafone Group PLC		6,402,349		20,854,496
				130,027,902
TOTAL COMMON STOCKS (Cost $1,041,723,757)				844,247,714
SHORT-TERM INVESTMENTS — 14.4%
UNITED STATES — 14.4%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d)		305,715		305,715
State Street Navigator Securities Lending Prime Portfolio (d) (e)		121,635,437		121,635,437
TOTAL SHORT-TERM INVESTMENTS (Cost $121,941,152)				121,941,152
TOTAL INVESTMENTS — 114.0% (Cost $1,163,664,909)				966,188,866
LIABILITIES IN EXCESS OF OTHER ASSETS — (14.0)%				(118,981,861	)
NET ASSETS — 100.0%			$	847,207,005

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) The rate shown is the annualized seven-day yield at December 31, 2015.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) Investment of cash collateral for securities loaned

ADR = American Depositary Receipt

NVDR = Non Voting Depositary Receipt

REIT = Real Estate Investment Trust

204

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.8%
AUSTRALIA — 6.0%
Adelaide Brighton, Ltd.		8,385	$	28,977
Alumina, Ltd. (a)		62,488		52,510
Ansell, Ltd.		4,391		68,462
Aristocrat Leisure, Ltd.		14,974		111,231
AusNet Services		43,584		47,089
Bank of Queensland, Ltd.		11,707		118,733
Bendigo & Adelaide Bank, Ltd.		13,194		114,712
BGP Holdings PLC (b)(c)		31,422		—
Boral, Ltd. (a)		22,866		98,320
Challenger, Ltd.		13,026		82,640
Coca-Cola Amatil, Ltd.		12,271		83,028
Cochlear, Ltd.		1,800		125,171
Computershare, Ltd.		13,453		113,733
Domino’s Pizza Enterprises, Ltd.		1,653		69,452
DUET Group (a)		52,991		87,902
Flight Centre Travel Group, Ltd. (a)		1,657		48,089
Fortescue Metals Group, Ltd. (a)		45,933		62,493
Harvey Norman Holdings, Ltd. (a)		24,962		75,913
Healthscope, Ltd.		32,849		63,572
Iluka Resources, Ltd.		12,254		54,651
Incitec Pivot, Ltd.		45,458		130,969
Medibank Pvt, Ltd.		72,002		112,628
Mirvac Group REIT		87,829		126,522
Orica, Ltd. (a)		9,739		109,827
Platinum Asset Management, Ltd. (a)		4,120		24,220
REA Group, Ltd.		1,151		46,133
Reece, Ltd.		1,274		31,691
Santos, Ltd. (a)		43,039		115,232
SEEK, Ltd. (a)		9,173		102,643
Spark Infrastructure Group (a)		38,087		53,204
Star Entertainment Group, Ltd.		26,932		99,539
Tabcorp Holdings, Ltd.		23,448		80,351
Tatts Group, Ltd.		51,095		163,195
Treasury Wine Estates, Ltd.		22,439		135,502
Washington H Soul Pattinson & Co., Ltd. (a)		3,232		41,103
				2,879,437
AUSTRIA — 0.9%
ams AG (a)		2,039		68,340
BUWOG AG (b)		1,646		35,770
IMMOFINANZ AG (b)		33,604		76,695
Mayr Melnhof Karton AG		203		25,249
Oesterreichische Post AG		859		31,381
Raiffeisen Bank International AG (b)		2,439		36,046
Telekom Austria AG (a)		3,001		16,440
UNIQA Insurance Group AG		3,839		31,382
Verbund AG (a)		3,016		38,857
Vienna Insurance Group AG Wiener Versicherung Gruppe		1,219		33,489
Wienerberger AG		2,768		51,388
				445,037
BELGIUM — 1.4%
Ackermans & van Haaren NV		678		99,650
bpost SA		1,915		46,993
Cie d’Entreprises CFE		55		6,518
Cofinimmo SA		1,429		152,764
D’ieteren SA		457		17,085
Elia System Operator SA		712		33,127
Euronav NV		2,723		37,507
Financiere de Tubize SA		433		31,999
Galapagos NV (b)		844		52,040
KBC Ancora		133		5,622
Ontex Group NV		858		30,534
Sofina SA		530		59,532
Umicore SA		2,172		91,228
				664,599
CANADA — 6.8%
Air Canada (b)		8,743		64,262
Allied Properties Real Estate Investment Trust		3,680		83,635
AltaGas, Ltd. (a)		2,800		62,285
Amaya, Inc. (a)(b)		3,607		45,260
Atco, Ltd. Class I		3,177		81,649
BlackBerry, Ltd. (b)		11,322		104,654
CAE, Inc.		6,975		77,076
Canadian Apartment Properties REIT		1,648		31,842
Canadian Oil Sands, Ltd.		12,600		75,014
Canadian Real Estate Investment Trust		1,009		30,551
Canfor Corp. (b)		2,235		32,485
CCL Industries, Inc. Class B		824		133,094
Cineplex, Inc. (a)		1,769		60,554
Cominar Real Estate Investment Trust		1,882		19,930
Concordia Healthcare Corp. (a)		487		19,822
DH Corp.		4,253		96,811
E-L Financial Corp., Ltd.		88		44,306
Eldorado Gold Corp.		19,100		56,375
Element Financial Corp.		10,339		124,297
Emera, Inc.		3,561		110,821
Empire Co., Ltd.		4,200		77,826
Finning International, Inc.		4,000		53,790
First Capital Realty, Inc. (a)		2,587		34,174
First Quantum Minerals, Ltd. (a)		18,800		70,106
Genworth MI Canada, Inc. (a)		710		13,596
H&R Real Estate Investment Trust		730		10,537
Hudson’s Bay Co.		3,406		44,380
Industrial Alliance Insurance & Financial Services, Inc.		2,785		88,476
Kinross Gold Corp. (b)		37,114		67,062
Linamar Corp.		1,533		82,471
Lundin Mining Corp. (b)		18,102		49,520
MacDonald Dettwiler & Associates, Ltd.		944		56,582
Maple Leaf Foods, Inc. (a)		2,798		47,859
Methanex Corp.		2,200		72,378
Northland Power, Inc. (a)		1,000		13,433
Peyto Exploration & Development Corp. (a)		3,800		68,034
PrairieSky Royalty, Ltd. (a)		3,776		59,585
Progressive Waste Solutions, Ltd. (a)		4,810		112,883
Ritchie Bros Auctioneers, Inc. (a)		2,661		63,867
Seven Generations Energy, Ltd. Class A (b)		5,432		52,713
Silver Wheaton Corp.		10,600		131,250
Smart Real Estate Investment Trust		1,578		34,295
SNC-Lavalin Group, Inc.		3,700		109,527
Stantec, Inc. (a)		2,596		64,138
Stella-Jones, Inc.		800		30,241
Teck Resources, Ltd. Class B (a)		12,400		47,668
Veresen, Inc. (a)		9,139		58,291
Vermilion Energy, Inc. (a)		2,700		73,103
West Fraser Timber Co., Ltd.		1,990		75,254

205

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
WestJet Airlines, Ltd.		3,137	$	45,753
Whitecap Resources, Inc. (a)		9,096		59,392
WSP Global, Inc. (a)		1,705		52,177
				3,275,084
CHINA — 0.0%(d)
China Traditional Chinese Medicine Co., Ltd. (b)		28,000		18,931
DENMARK — 0.7%
Dfds A/S		810		31,481
GN Store Nord A/S		5,505		100,407
Sydbank A/S		2,431		78,488
Topdanmark A/S (b)		2,314		66,020
William Demant Holding A/S (b)		702		67,137
				343,533
FINLAND — 1.0%
Amer Sports Oyj		3,079		90,207
Cargotec Oyj (a)		1,085		40,663
Citycon Oyj (b)		2,262		5,897
Huhtamaki Oyj		2,217		80,679
Kesko Oyj Class B		2,060		72,437
Metso Oyj (a)		3,033		68,201
Nokian Renkaat Oyj		3,748		134,765
				492,849
FRANCE — 3.8%
Air France-KLM (b)		3,470		26,462
Areva SA (b)		969		5,709
BioMerieux		426		50,858
Criteo SA ADR (b)		1,348		53,381
Edenred		4,871		92,334
Elior (e)		1,415		29,666
Eurazeo SA		889		61,323
Faurecia		1,437		57,773
Havas SA		7,647		64,437
Korian SA		3,036		111,077
Lagardere SCA		3,922		117,206
Mercialys SA		2,901		58,726
Metropole Television SA		2,038		35,068
Nexity SA		1,018		45,124
Norbert Dentressangle SA		33		7,413
Orpea		1,274		102,108
Plastic Omnium SA		1,831		58,338
Remy Cointreau SA (a)		1,437		103,042
Rexel SA		6,365		84,908
Rothschild & Co.		581		14,832
Rubis SCA		1,331		101,109
Sartorius Stedim Biotech		141		54,130
Schneider Electric SE		563		32,145
SEB SA		874		89,816
Societe Television Francaise 1		3,414		38,013
Somfy SA		19		7,203
Sopra Steria Group		288		33,882
SPIE SA (b)		588		10,839
Technicolor SA		9,052		73,552
Teleperformance		1,811		152,465
Vicat		523		31,441
Worldline SA (b) (e)		533		13,821
				1,818,201
GERMANY — 4.1%
Aareal Bank AG		1,643		52,009
Aurubis AG		794		40,517
Carl Zeiss Meditec AG (a)		797		24,718
CTS Eventim AG & Co. KGaA		1,575		62,859
Deutsche EuroShop AG		848		37,271
DMG Mori AG		1,155		47,778
Drillisch AG		1,851		78,600
Duerr AG		768		61,403
Freenet AG		4,164		141,649
Gerresheimer AG		1,153		90,418
Grand City Properties SA (a)		1,431		33,251
GRENKELEASING AG		155		31,082
Hella KGaA Hueck & Co.		542		22,685
KION Group AG (b)		1,129		56,440
Krones AG		399		47,808
KUKA AG (a)		826		74,519
KWS Saat SE		64		19,258
Lanxess AG		2,011		93,237
LEG Immobilien AG (b)		1,557		127,698
Leoni AG		1,193		47,231
MTU Aero Engines AG		1,546		151,316
Nordex SE (b)		1,451		51,621
Puma SE (a)		71		15,321
Rational AG (a)		73		33,298
Rheinmetall AG		1,022		68,255
RHOEN-KLINIKUM AG		189		5,683
Rocket Internet SE (a) (b) (e)		1,132		34,727
Sartorius AG Preference Shares		257		67,129
Software AG (a)		1,652		47,412
STADA Arzneimittel AG		2,006		81,368
Stroeer SE		457		28,744
Suedzucker AG		1,362		27,135
Wacker Chemie AG (a)		157		13,221
Wirecard AG (a)		3,485		176,038
				1,991,699
HONG KONG — 2.2%
ASM Pacific Technology, Ltd. (a)		6,100		47,933
Brightoil Petroleum Holdings, Ltd. (a)		75,000		25,161
Champion REIT		93,000		46,559
Chinese Estates Holdings, Ltd.		12,000		40,257
Dah Sing Banking Group, Ltd.		3,200		5,665
First Pacific Co., Ltd.		72,500		48,083
Genting Hong Kong, Ltd.		52,999		16,960
Goldin Properties Holdings, Ltd. (a) (b)		36,000		41,527
Great Eagle Holdings, Ltd.		4,069		13,283
Guoco Group, Ltd.		1,000		10,942
Haitong International Securities Group, Ltd.		48,000		29,543
Hopewell Holdings, Ltd.		31,500		113,194
Hutchison Telecommunications Hong Kong Holdings, Ltd. (a)		20,000		6,942
Hysan Development Co., Ltd.		14,000		57,354
Johnson Electric Holdings, Ltd. (a)		10,000		34,257
Kerry Logistics Network, Ltd.		12,000		17,496
Kerry Properties, Ltd.		14,000		38,206
Kingston Financial Group, Ltd. (a) (b)		96,000		40,753
Lifestyle International Holdings, Ltd.		8,000		10,694
Melco International Development, Ltd. (a)		33,000		49,563
Noble Group, Ltd. (a)		144,000		40,602
Nord Anglia Education, Inc. (a) (b)		1,028		20,848
NWS Holdings, Ltd.		36,124		54,068
Orient Overseas International, Ltd.		5,000		24,032
Pacific Textiles Holdings, Ltd.		11,000		16,975

206

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
PCCW, Ltd.		139,807	$	82,078
Shangri-La Asia, Ltd.		66,000		64,466
Stella International Holdings, Ltd. (a)		17,500		43,580
VTech Holdings, Ltd. (a)		3,300		34,213
				1,075,234
INDIA — 0.0%(d)
Vedanta Resources PLC		1,523		6,178
IRELAND — 0.6%
Avolon Holdings, Ltd. (b)		545		16,873
King Digital Entertainment PLC		2,765		49,438
Kingspan Group PLC		3,249		85,800
Paddy Power PLC		1,109		148,299
Permanent TSB Group Holdings PLC (b)		1,812		9,057
				309,467
ISRAEL — 1.0%
Azrieli Group		714		26,607
Bezeq The Israeli Telecommunication Corp., Ltd.		57,347		126,306
Delek Group, Ltd.		124		24,860
Elbit Systems, Ltd.		443		39,028
Frutarom Industries, Ltd.		798		42,863
Israel Corp., Ltd.		75		13,610
Mizrahi Tefahot Bank, Ltd.		2,964		35,421
NICE-Systems, Ltd.		2,055		118,567
Osem Investments, Ltd.		1,875		32,156
Tower Semiconductor, Ltd. (b)		1		14
				459,432
ITALY — 3.2%
A2A SpA		34,209		46,600
ACEA SpA		365		5,630
Anima Holding SpA (e)		5,400		47,046
Ansaldo STS SpA		3,535		37,902
Autogrill SpA (b)		2,998		28,724
Azimut Holding SpA		2,791		69,915
Banca Generali SpA		1,483		47,009
Banca Popolare dell’Emilia Romagna SC		12,307		94,118
Banca Popolare di Milano Scarl		173,375		173,459
Banca Popolare di Sondrio Scarl		13,655		61,588
Brembo SpA		388		18,832
Buzzi Unicem SpA (f)		36		649
Buzzi Unicem SpA (f)		3,478		38,499
Davide Campari-Milano SpA		9,107		79,143
De’ Longhi SpA		1,404		42,201
DiaSorin SpA		619		32,579
ERG SpA		255		3,454
FinecoBank Banca Fineco SpA		13,714		113,594
Hera SpA		12,429		33,079
Infrastrutture Wireless Italiane SpA (b) (e)		2,728		14,936
Italcementi SpA		5,789		64,458
Moncler SpA (a)		4,194		58,863
Prysmian SpA		6,417		141,228
Recordati SpA		3,922		102,635
Saipem SpA (a) (b)		6,462		52,577
Salvatore Ferragamo SpA (a)		355		8,388
Saras SpA (b)		6,975		13,517
Tod’s SpA (a)		537		42,613
Unipol Gruppo Finanziario SpA		13,794		71,386
				1,544,622
JAPAN — 31.9%
Activia Properties, Inc.		4		17,058
Advance Residence Investment Corp.		60		132,524
AEON Financial Service Co., Ltd.		5,200		117,837
Aeon Mall Co., Ltd.		1,000		17,324
Air Water, Inc.		7,000		113,820
Alfresa Holdings Corp. (a)		8,800		175,934
Amada Holdings Co., Ltd.		11,100		107,406
Aozora Bank, Ltd.		5,000		17,582
Asahi Intecc Co., Ltd.		700		32,528
Bank of Kyoto, Ltd. (a)		11,000		103,329
Benesse Holdings, Inc. (a)		3,300		95,740
Brother Industries, Ltd. (a)		4,300		50,115
Calbee, Inc.		4,700		200,823
Canon Marketing Japan, Inc.		3,300		52,012
Chugoku Bank, Ltd.		6,400		86,401
Citizen Holdings Co., Ltd. (a)		9,700		70,475
Coca-Cola East Japan Co., Ltd.		1,000		16,235
Coca-Cola West Co., Ltd. (a)		300		6,127
COLOPL, Inc.		200		3,984
COOKPAD, Inc. (b)		700		15,083
Cosmos Pharmaceutical Corp.		100		15,878
Credit Saison Co., Ltd. (a)		3,900		77,841
CyberAgent, Inc. (a)		900		37,632
Daicel Corp.		11,200		168,891
Daiichikosho Co., Ltd.		400		15,977
DeNA Co., Ltd. (a)		2,100		33,151
DIC Corp.		28,000		76,811
Disco Corp.		900		86,038
Dowa Holdings Co., Ltd.		12,000		87,385
Ezaki Glico Co., Ltd.		1,100		59,894
FamilyMart Co., Ltd.		3,300		154,720
Fuji Electric Co., Ltd.		33,000		140,180
Fuji Media Holdings, Inc.		3,300		39,283
Fukuoka Financial Group, Inc.		33,000		165,967
GLP J — REIT		117		113,601
GungHo Online Entertainment, Inc. (a) (b)		5,100		13,948
Gunma Bank, Ltd.		17,000		99,913
H2O Retailing Corp.		800		15,795
Hachijuni Bank, Ltd.		14,000		86,704
Hakuhodo DY Holdings, Inc.		6,600		72,367
Hamamatsu Photonics KK (a)		6,600		182,975
Haseko Corp.		8,300		93,008
Hikari Tsushin, Inc.		300		20,574
Hirose Electric Co., Ltd. (a)		500		61,349
Hiroshima Bank, Ltd. (a)		33,000		190,108
HIS Co., Ltd.		300		10,138
Hisamitsu Pharmaceutical Co., Inc.		4,400		186,541
Hitachi Capital Corp.		3,300		89,842
Hitachi Construction Machinery Co., Ltd. (a)		3,300		52,067
Hitachi High-Technologies Corp.		300		8,205
Hokkaido Electric Power Co., Inc. (b)		3,100		32,135
Hokuhoku Financial Group, Inc.		33,000		68,033
Hokuriku Electric Power Co.		6,300		94,006
Hoshizaki Electric Co., Ltd.		2,300		144,545
Ibiden Co., Ltd. (a)		3,300		47,815
Idemitsu Kosan Co., Ltd.		6,400		103,107
IHI Corp.		30,000		84,043
Ito En, Ltd. (a)		400		10,375
Iyo Bank, Ltd. (a)		10,100		99,409

207

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Izumi Co., Ltd.		300	$	11,746
J Front Retailing Co., Ltd.		12,700		186,443
Jafco Co., Ltd.		300		11,871
Japan Airport Terminal Co., Ltd. (a)		3,000		135,168
Japan Prime Realty Investment Corp. (a)		33		113,296
Japan Retail Fund Investment Corp.		77		148,630
JGC Corp.		4,000		61,948
Joyo Bank, Ltd. (a)		33,000		157,737
JSR Corp. (a)		6,200		97,874
JTEKT Corp.		4,500		75,003
Kakaku.com, Inc.		4,000		79,604
Kaken Pharmaceutical Co., Ltd.		1,000		69,080
Kamigumi Co., Ltd.		8,000		69,695
Kaneka Corp. (a)		11,000		115,674
Kansai Paint Co., Ltd. (a)		8,000		122,698
Kawasaki Kisen Kaisha, Ltd.		28,000		60,518
Keihan Electric Railway Co., Ltd. (a)		16,000		108,134
Keikyu Corp. (a)		2,000		16,676
Keio Corp. (a)		16,000		139,657
Keisei Electric Railway Co., Ltd.		10,000		128,850
Kewpie Corp.		3,300		82,298
Kobayashi Pharmaceutical Co., Ltd.		300		24,889
Konami Holdings Corp. (a)		4,300		103,233
Kuraray Co., Ltd. (a)		10,100		123,590
Kurita Water Industries, Ltd.		6,100		128,851
Laox Co., Ltd. (a)(b)		5,000		9,726
Lion Corp.		4,000		38,040
Mabuchi Motor Co., Ltd. (a)		1,600		88,316
Marui Group Co., Ltd. (a)		10,900		179,228
Matsumotokiyoshi Holdings Co., Ltd.		900		46,386
Medipal Holdings Corp.		9,100		156,893
Minebea Co., Ltd.		9,000		78,482
Miraca Holdings, Inc.		3,300		146,764
MISUMI Group, Inc. (a)		9,900		138,754
Mitsubishi Gas Chemical Co., Inc.		24,000		124,095
Mitsubishi Logistics Corp.		2,000		26,684
Mitsubishi Materials Corp.		50,000		159,608
Mitsubishi UFJ Lease & Finance Co., Ltd.		17,200		89,793
Mitsui Chemicals, Inc.		33,000		148,684
Mitsui OSK Lines, Ltd.		33,000		84,218
Mixi, Inc.		1,400		52,953
MonotaRO Co., Ltd. (a)		1,400		39,278
Nabtesco Corp.		3,300		67,978
Nagoya Railroad Co., Ltd. (a)		33,000		138,534
Nankai Electric Railway Co., Ltd. (a)		22,000		131,128
NH Foods, Ltd.		9,000		177,913
NHK Spring Co., Ltd.		7,100		72,124
Nifco, Inc. (a)		300		14,040
Nippon Electric Glass Co., Ltd. (a)		12,000		61,150
Nippon Express Co., Ltd.		33,000		156,914
Nippon Prologis REIT, Inc.		48		87,186
Nippon Shokubai Co., Ltd. (a)		1,600		112,656
Nippon Yusen KK		37,000		90,735
Nishi-Nippon City Bank, Ltd.		23,000		61,374
Nissan Chemical Industries, Ltd. (a)		5,400		124,299
Nisshin Seifun Group, Inc.		7,700		127,186
Nisshinbo Holdings, Inc.		1,000		10,657
NOK Corp.		3,300		78,402
Nomura Real Estate Holdings, Inc.		3,300		61,860
NTN Corp.		25,000		107,444
NTT Urban Development Corp. (a)		3,300		32,096
Obic Co., Ltd.		3,300		176,666
Oji Holdings Corp.		33,000		134,145
Orix JREIT, Inc. (a)		70		91,010
Otsuka Corp. (a)		900		44,590
Park24 Co., Ltd. (a)		3,300		80,350
Pigeon Corp. (a)		2,400		59,155
Pilot Corp.		700		29,066
Pola Orbis Holdings, Inc. (a)		200		13,334
Resorttrust, Inc. (a)		1,800		47,957
Rinnai Corp. (a)		1,900		170,265
Sankyo Co., Ltd. (a)		3,300		124,132
Sanrio Co., Ltd. (a)		3,300		78,183
SBI Holdings, Inc. (a)		6,600		72,477
SCSK Corp. (a)		400		16,243
Seino Holdings Co., Ltd.		3,000		31,572
Seven Bank, Ltd.		17,100		75,766
Sharp Corp. (a) (b)		38,000		39,486
Shikoku Electric Power Co., Inc. (a)		6,300		99,505
Shimadzu Corp.		10,000		169,999
Shimamura Co., Ltd. (a)		300		35,563
Showa Shell Sekiyu KK (a)		6,000		49,279
Skylark Co., Ltd. (a)		1,700		22,173
Sohgo Security Services Co., Ltd.		1,800		85,290
Sojitz Corp. (a)		38,900		82,783
Sotetsu Holdings, Inc. (a)		4,000		23,476
Square Enix Holdings Co., Ltd. (a)		1,300		31,718
Stanley Electric Co., Ltd.		7,000		155,484
Start Today Co., Ltd.		900		29,403
Sumco Corp. (a)		3,500		26,884
Sumitomo Heavy Industries, Ltd. (a)		33,000		150,330
Sumitomo Rubber Industries, Ltd. (a)		4,200		55,199
Sundrug Co., Ltd.		300		19,502
Suruga Bank, Ltd. (a)		9,900		206,814
Suzuken Co., Ltd.		3,600		138,410
Taiheiyo Cement Corp.		33,000		97,111
Takashimaya Co., Ltd.		17,000		154,603
Teijin, Ltd.		28,000		96,596
Temp Holdings Co., Ltd.		2,700		42,308
THK Co., Ltd.		3,700		69,451
Tobu Railway Co., Ltd.		7,000		34,798
Toho Co., Ltd.		8,000		223,451
Toho Gas Co., Ltd. (a)		14,000		91,359
Tokyo Tatemono Co., Ltd.		8,500		93,483
Tokyu Fudosan Holdings Corp.		5,600		35,473
Tosoh Corp.		18,000		93,819
Toyo Seikan Group Holdings, Ltd. (a)		4,300		80,856
Toyo Suisan Kaisha, Ltd. (a)		5,000		175,818
Toyo Tire & Rubber Co., Ltd.		1,900		37,970
Toyota Boshoku Corp. (a)		3,300		67,320
Trend Micro, Inc. (b)		3,300		135,243
Tsuruha Holdings, Inc.		1,000		87,369
United Urban Investment Corp. (a)		101		137,695
Welcia Holdings Co., Ltd.		200		11,173
Yamada Denki Co., Ltd. (a)		29,500		128,256
Yamaguchi Financial Group, Inc. (a)		8,000		95,765
Yamaha Corp.		5,200		127,477
Yamazaki Baking Co., Ltd.		5,000		113,679
Yaoko Co., Ltd.		100		4,240
Yaskawa Electric Corp.		7,800		107,830
Yokogawa Electric Corp.		5,700		69,417
Yokohama Rubber Co., Ltd. (a)		4,000		62,214
Zenkoku Hosho Co., Ltd.		400		13,384
Zeon Corp.		2,000		16,277
				15,437,973

208

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
LUXEMBOURG — 0.4%
APERAM SA (b)		1,084	$	38,729
B&M European Value Retail SA		12,553		52,675
Cosmo Pharmaceuticals SA (b)		74		11,991
Eurofins Scientific SE		252		88,106
L’Occitane International SA		10,500		20,322
				211,823
MALTA — 0.1%
Unibet Group PLC SDR		665		68,152
NETHERLANDS — 1.5%
Aalberts Industries NV		2,584		89,234
Arcadis NV		3,330		67,157
ASM International NV		2,137		83,943
Cimpress NV (a) (b)		793		64,344
Delta Lloyd NV (a)		5,336		31,562
Eurocommercial Properties NV		1,867		80,709
Euronext NV (e)		1,659		85,216
SBM Offshore NV (b)		6,571		83,230
TNT Express NV		11,027		93,313
TomTom NV (b)		1,996		25,162
Wereldhave NV		302		16,961
				720,831
NEW ZEALAND — 1.3%
Auckland International Airport, Ltd.		21,423		84,331
Contact Energy, Ltd.		17,940		58,215
Fisher & Paykel Healthcare Corp., Ltd.		27,686		168,689
Fletcher Building, Ltd.		15,426		77,621
Meridian Energy, Ltd.		29,805		48,767
Mighty River Power, Ltd.		12,734		24,235
Ryman Healthcare, Ltd.		11,541		67,158
Spark New Zealand, Ltd.		45,066		101,812
Vector, Ltd.		1,415		3,071
				633,899
NORWAY — 0.1%
Golar LNG, Ltd.		2,337		36,901
PORTUGAL — 0.4%
Banco Comercial Portugues SA (a) (b)		968,609		51,452
NOS SGPS SA		12,304		96,849
Portucel SA		7,028		27,454
Sonae SGPS SA		29,472		33,552
				209,307
SINGAPORE — 2.3%
Ascendas Real Estate Investment Trust (a)		58,800		94,501
CapitaLand Commercial Trust, Ltd.		40,100		38,159
CapitaLand Mall Trust		60,000		81,627
ComfortDelGro Corp., Ltd.		75,600		162,535
Fraser and Neave, Ltd.		1,000		1,466
Golden Agri-Resources, Ltd. (a)		165,000		39,545
Hutchison Port Holdings Trust (a)		120,000		63,600
Keppel REIT (a)		20,200		13,242
Mapletree Commercial Trust		22,900		20,985
Olam International, Ltd.		10,000		12,829
SATS, Ltd. (a)		32,900		89,054
Sembcorp Industries, Ltd. (a)		20,000		42,999
Sembcorp Marine, Ltd. (a)		16,000		19,737
SIA Engineering Co., Ltd. (a)		4,400		11,476
Singapore Post, Ltd. (a)		68,600		79,303
Singapore Press Holdings, Ltd. (a)		35,000		97,205
StarHub, Ltd.		6,000		15,649
Suntec Real Estate Investment Trust (a)		64,000		69,925
UOL Group, Ltd. (a)		34,470		151,618
				1,105,455
SOUTH KOREA — 5.4%
BGF retail Co., Ltd.		245		35,834
BNK Financial Group, Inc.		7,167		51,466
CJ CGV Co., Ltd.		310		33,312
CJ CheilJedang Corp.		199		64,068
CJ E&M Corp. (b)		457		31,414
CJ Korea Express Co., Ltd. (b)		181		29,484
Cuckoo Electronics Co., Ltd.		54		10,569
Daewoo Engineering & Construction Co., Ltd. (b)		5,759		27,505
Daewoo International Corp.		1,741		24,276
Daewoo Securities Co., Ltd.		8,066		65,144
Dongbu Insurance Co., Ltd.		1,813		108,698
Dongsuh Cos., Inc.		1,210		32,145
GS Holdings Corp.		2,554		110,433
GS Retail Co., Ltd.		618		28,356
Hankook Tire Co., Ltd.		1,682		67,492
Hanmi Pharm Co., Ltd. (b)		112		69,537
Hanon Systems		540		23,902
Hansae Co., Ltd.		474		21,425
Hanwha Chemical Corp.		2,610		60,545
Hanwha Corp.		2,806		94,287
Hotel Shilla Co., Ltd.		980		64,606
Hyosung Corp.		605		60,626
Hyundai Department Store Co., Ltd.		360		38,838
Hyundai Development Co-Engineering & Construction		1,745		57,743
Hyundai Engineering & Construction Co., Ltd.		1,581		38,495
Hyundai Greenfood Co., Ltd.		1,070		22,631
Hyundai Marine & Fire Insurance Co., Ltd.		1,676		51,529
Hyundai Wia Corp.		386		36,870
KCC Corp.		155		55,190
KEPCO Plant Service & Engineering Co., Ltd.		531		40,304
Korea Gas Corp.		803		25,236
Korea Investment Holdings Co., Ltd.		1,981		83,714
Korean Air Lines Co., Ltd. (b)		735		17,363
LG Uplus Corp.		7,257		64,366
Loen Entertainment, Inc.		113		8,095
Lotte Chilsung Beverage Co., Ltd.		15		28,387
Lotte Confectionery Co., Ltd.		37		71,914
Medy-Tox, Inc.		96		41,984
Meritz Securities Co., Ltd.		6,440		21,942
NCSoft Corp.		395		71,754
NH Investment & Securities Co., Ltd.		3,752		32,319
Orion Corp.		91		90,492
Ottogi Corp.		59		61,639
Pan Ocean Co., Ltd. (b)		3,420		10,763
S-1 Corp.		743		63,176
Samlip General Foods Co., Ltd.		52		12,262
Samsung Electro-Mechanics Co., Ltd.		2,043		109,594
Samsung Heavy Industries Co., Ltd.		4,550		42,103
Samsung SDI Co., Ltd.		1,346		130,864
Samsung Securities Co., Ltd.		2,282		81,253
Shinsegae Co., Ltd.		158		30,992
Young Poong Corp.		25		23,389

209

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Youngone Corp.		482	$	17,306
Yuhan Corp.		107		24,867
				2,622,498
SPAIN — 2.4%
Abengoa Yield PLC (a)		829		15,991
Acciona SA (a)		778		66,834
Acerinox SA (a)		4,218		43,149
Almirall SA		1,841		37,258
Atresmedia Corp. de Medios de Comunicacion SA		2,490		26,616
Bolsas y Mercados Espanoles SHMSF SA (a)		2,547		85,937
Cellnex Telecom SAU (e)		4,529		84,818
Cia de Distribucion Integral Logista Holdings SA		1,165		24,602
Corp. Financiera Alba SA		420		18,181
Distribuidora Internacional de Alimentacion SA (a) (b)		15,452		91,380
Ebro Foods SA		3,005		59,264
Fomento de Construcciones y Contratas SA (a) (b)		2,408		18,311
Gamesa Corp. Tecnologica SA		9,638		165,632
Grupo Catalana Occidente SA		1,353		47,062
Inmobiliaria Colonial SA (b)		62,801		43,798
Mediaset Espana Comunicacion SA		6,094		66,398
Melia Hotels International SA (a)		2,285		30,233
Merlin Properties Socimi SA		6,455		80,954
Prosegur Cia de Seguridad SA		6,283		29,007
Tecnicas Reunidas SA (a)		745		28,204
Viscofan SA		1,513		91,448
				1,155,077
SWEDEN — 3.9%
AAK AB		755		56,196
Axfood AB		1,831		31,883
Axis Communications AB		14		570
Betsson AB (b)		3,025		55,795
BillerudKorsnas AB		5,213		97,204
Boliden AB		7,452		126,313
Castellum AB		7,962		113,991
Elekta AB Class B (a)		12,592		107,689
Fabege AB		4,202		69,829
Fastighets AB Balder Class B (b)		1,154		28,567
Hexpol AB		7,675		82,935
Hufvudstaden AB Class A		3,539		50,332
Husqvarna AB Class B		10,224		67,913
Intrum Justitia AB		2,427		83,082
Investment AB Latour Class B		600		22,183
Lundin Petroleum AB (a) (b)		5,375		78,165
NCC AB Class B		2,407		75,089
Nibe Industrier AB Class B		4,328		146,053
Nobia AB		2,607		32,778
Pandox AB (b)		876		16,199
Peab AB		11,150		85,768
SAAB AB Class B		1,672		51,723
Securitas AB Class B		8,900		137,238
SSAB AB Class A (a) (b)		7,761		20,814
SSAB AB Class B (a) (b)		947		2,134
Swedish Orphan Biovitrum AB (b)		3,503		55,928
Tele2 AB Class B		6,560		65,946
Trelleborg AB Class B		4,830		94,416
Wallenstam AB Class B (a)		3,799		30,642
				1,887,375
SWITZERLAND — 3.0%
Allreal Holding AG (b)		158		21,088
Aryzta AG (b)		2,306		117,488
Banque Cantonale Vaudoise (a)		131		83,298
Basellandschaftliche Kantonalbank		24		21,315
Bucher Industries AG (a)		191		43,180
Daetwyler Holding AG		178		25,500
DKSH Holding AG (a) (b)		237		14,999
dorma+kaba Holding AG Class B		44		30,044
Emmi AG (b)		36		16,193
Flughafen Zuerich AG		231		173,885
Forbo Holding AG (b)		40		47,233
GAM Holding AG (b)		6,105		101,852
Georg Fischer AG		109		73,937
Leonteq AG (a) (b)		228		33,141
Logitech International SA		5,725		88,077
Luzerner Kantonalbank AG		58		21,873
OC Oerlikon Corp. AG (b)		3,913		34,986
Panalpina Welttransport Holding AG (a)		538		60,465
PSP Swiss Property AG (b)		1,107		97,319
St Galler Kantonalbank AG		57		20,556
Straumann Holding AG		235		71,603
Sulzer AG		713		67,204
Sunrise Communications Group AG (b) (e)		1,018		60,104
Temenos Group AG (b)		1,478		76,705
Vontobel Holding AG		558		26,478
VZ Holding AG		30		8,856
				1,437,379
UNITED KINGDOM — 14.7%
AA PLC		18,282		84,610
Aggreko PLC		6,651		89,599
Amlin PLC		16,563		161,975
Ashmore Group PLC (a)		9,898		37,405
AVEVA Group PLC		1,876		44,738
Balfour Beatty PLC (b)		20,621		82,123
BBA Aviation PLC		31,204		86,970
BCA Marketplace PLC		18,675		47,550
Beazley PLC		21,163		121,868
Bellway PLC		3,487		145,756
Berendsen PLC		4,656		74,046
Betfair Group PLC		2,018		115,999
Booker Group PLC		43,696		116,892
Bovis Homes Group PLC		2,973		44,476
Britvic PLC		7,202		77,224
BTG PLC (b)		12,814		130,034
Cable & Wireless Communications PLC		142,142		155,661
Card Factory PLC		5,937		31,957
Carillion PLC (a)		13,577		60,614
Cineworld Group PLC		3,965		32,873
Close Brothers Group PLC		3,097		61,030
Crest Nicholson Holdings PLC		6,093		50,021
Daily Mail & General Trust PLC Class A		7,039		72,623
Derwent London PLC		7		379
Dialog Semiconductor PLC (b)		2,793		94,404
Domino’s Pizza Group PLC		3,971		61,572
Dunelm Group PLC		2,250		31,272
Essentra PLC		6,349		77,482
Euromoney Institutional Investor PLC		1,151		16,880
Firstgroup PLC (b)		34,159		54,022

210

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Galliford Try PLC		1,494	$	33,581
Grafton Group PLC		10,622		115,853
Great Portland Estates PLC		9,823		119,879
Greene King PLC		8,990		123,228
Halma PLC		8,834		112,627
Hays PLC		36,060		77,544
Henderson Group PLC		30,704		140,108
Hiscox, Ltd.		11,719		182,054
Howden Joinery Group PLC		18,622		144,508
ICAP PLC		15,956		119,822
IG Group Holdings PLC		9,449		111,763
IMI PLC		6,057		76,910
Indivior PLC		19,151		53,010
Intermediate Capital Group PLC		8,433		77,932
Jardine Lloyd Thompson Group PLC		3,932		53,607
JD Sports Fashion PLC		1,043		16,003
John Wood Group PLC		10,600		95,693
Jupiter Fund Management PLC		9,855		65,611
Just Eat PLC (b)		11,454		83,347
Kier Group PLC		1,737		35,612
Man Group PLC		57,803		149,519
Manchester United PLC Class A		1,055		18,789
Melrose Industries PLC		24,001		102,906
Michael Page International PLC		6,736		48,082
Micro Focus International PLC		2,538		59,665
Millennium & Copthorne Hotels PLC		3,325		22,710
Mitchells & Butlers PLC		4,318		21,963
Moneysupermarket.com Group PLC		11,567		62,568
National Express Group PLC		12,100		59,352
Ocado Group PLC (a) (b)		15,983		71,638
Petrofac, Ltd.		6,862		80,507
Pets at Home Group PLC		3,792		15,415
Phoenix Group Holdings		3,990		53,927
Playtech PLC		5,173		63,474
PZ Cussons PLC		9,524		39,979
QinetiQ Group PLC		25,320		101,098
Redrow PLC		4,224		29,267
Regus PLC		17,224		84,588
Renishaw PLC		682		18,898
Rentokil Initial PLC		47,956		112,597
Restaurant Group PLC		7,190		72,645
Rotork PLC		25,354		68,274
RPC Group PLC		5,449		66,901
Saga PLC		10,623		31,549
Seadrill, Ltd. (a) (b)		9,374		32,354
Segro PLC		20,822		131,781
Shaftesbury PLC		5,975		80,536
Spectris PLC		3,510		93,224
Spirax-Sarco Engineering PLC		2,147		103,889
Spire Healthcare Group PLC (e)		1,536		7,084
SSP Group PLC		9,556		45,775
Stagecoach Group PLC		12,580		54,939
Subsea 7 SA (a) (b)		6,513		46,393
TalkTalk Telecom Group PLC (a)		15,094		48,365
Tate & Lyle PLC		11,099		97,989
Ted Baker PLC		654		28,802
Telecity Group PLC		6,290		116,349
Thomas Cook Group PLC (b)		44,326		79,117
Tullow Oil PLC (b)		24,142		58,961
UBM PLC		10,300		79,929
UNITE Group PLC		4,667		45,124
Victrex PLC		1,919		51,025
Virgin Money Holdings UK PLC		4,198		23,556
Weir Group PLC		5,555		81,875
WH Smith PLC		4,288		111,802
Workspace Group PLC		2,677		37,819
WS Atkins PLC		4,268		102,285
				7,116,031
UNITED STATES — 0.7%
Eros International PLC (a) (b)		734		6,716
ICON PLC (a) (b)		1,742		135,354
IMAX Corp. (b)		1,763		62,657
International Game Technology PLC (a)		2,363		38,233
Markit, Ltd. (a) (b)		2,541		76,662
Nexteer Automotive Group, Ltd.		21,000		23,357
				342,979
TOTAL COMMON STOCKS (Cost $49,543,334)				48,309,983
RIGHTS — 0.0% (d)
SINGAPORE — 0.0% (d)
Ascendas Real Estate Investment Trust (expiring 1/13/16) (b) (g)		2,205		96
SOUTH KOREA — 0.0% (d)
BNK Financial Group, Inc. (expiring 1/14/16) (b)		1,568		1,779
TOTAL RIGHTS (Cost $0)				1,875
SHORT-TERM INVESTMENTS — 15.0%
UNITED STATES — 15.0%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (h) (i)		9,155		9,155
State Street Navigator Securities Lending Prime Portfolio (i) (j)		7,257,636		7,257,636
				7,266,791
TOTAL SHORT-TERM INVESTMENTS (Cost $7,266,791)				7,266,791
TOTAL INVESTMENTS — 114.8% (Cost $56,810,125)				55,578,649
LIABILITIES IN EXCESS OF OTHER ASSETS — (14.8)%				(7,149,532	)
NET ASSETS — 100.0%			$	48,429,117

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (see accompanying Notes to Schedules of Investments).

(d) Amount shown represents less than 0.05% of net assets.

(e) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.8% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(f) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

211

SPDR S&P International Mid Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

(g) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs (see accompanying Notes to Schedules of Investments).

(h) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(i) The rate shown is the annualized seven-day yield at December 31, 2015.

(j) Investment of cash collateral for securities loaned

REIT = Real Estate Investment Trust

SDR = Swedish Depositary Receipt

212

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 100.2%
AUSTRALIA — 0.0% (a)
MMG, Ltd. (b) (c)		824,000	$	156,291
BRAZIL — 4.9%
Aliansce Shopping Centers SA		88,781		244,155
Alpargatas SA Preference Shares		14,200		25,556
Alupar Investimento SA		31,745		105,516
Arezzo Industria e Comercio SA		43,105		228,804
B2W Cia Digital (b)		75,400		290,260
Banco ABC Brasil SA Preference Shares		66,433		146,593
Banco do Estado do Rio Grande do Sul SA Class B, Preference Shares		112,056		165,977
BR Malls Participacoes SA		182,995		513,427
BR Properties SA		238,790		508,212
Bradespar SA Preference Shares		151,509		191,098
Brasil Brokers Participacoes SA		280,116		92,752
Braskem SA Class A, Preference Shares		95,577		667,257
Cia de Saneamento de Minas Gerais-COPASA		45,725		179,144
Cia Energetica de Sao Paulo Class B, Preference Shares		60,468		204,808
Cia Ferro Ligas da Bahia — FERBASA Preference Shares		93,319		166,529
Cia Hering		117,702		452,511
Cia Paranaense de Energia Preference Shares		38,883		238,826
Cia Siderurgica Nacional SA		434,617		439,423
Cosan Logistica SA		229,569		61,509
Cosan, Ltd.		46,841		169,664
Direcional Engenharia SA		157,753		139,959
EcoRodovias Infraestrutura e Logistica SA		121,527		156,353
EDP — Energias do Brasil SA		30,916		94,086
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA Preference Shares (b)		91,809		194,931
Equatorial Energia SA		34,546		298,984
Estacio Participacoes SA		174,014		613,585
Eternit SA		294,290		155,467
Even Construtora e Incorporadora SA		223,079		232,312
Ez Tec Empreendimentos e Participacoes SA		78,114		251,939
Fleury SA		90,182		364,717
GAEC Educacao SA		80,552		280,978
Gafisa SA (b)		410,567		252,178
Helbor Empreendimentos SA		157,445		62,481
Iguatemi Empresa de Shopping Centers SA		37,038		177,033
International Meal Co. Alimentacao SA Class A (b)		80,265		82,370
Iochpe Maxion SA		76,488		237,802
JHSF Participacoes SA		135,282		43,427
JSL SA		39,160		71,267
Kepler Weber SA		15,216		62,306
Light SA		64,505		161,415
Linx SA		22,967		257,172
Localiza Rent a Car SA		52,071		326,674
Log-in Logistica Intermodal SA (b)		142,827		43,683
LPS Brasil Consultoria de Imoveis SA		85,408		48,789
Magnesita Refratarios SA (b)		260,661		191,069
Mahle-Metal Leve SA		31,500		197,062
Marcopolo SA Preference Shares		459,447		214,844
Marfrig Global Foods SA (b)		190,124		305,160
Metalurgica Gerdau SA Preference Shares		552,616		231,872
Mills Estruturas e Servicos de Engenharia SA (b)		154,302		103,746
Security Description		Shares		Value
Minerva SA (b)		35,604		119,692
MRV Engenharia e Participacoes SA		234,305		514,064
Oi SA Preference Shares (b)		583,790		287,745
Paranapanema SA (b)		208,003		115,667
PDG Realty SA Empreendimentos e Participacoes (b)		19,581		8,067
Prumo Logistica SA (b)		20,126		48,327
QGEP Participacoes SA		82,701		121,870
Qualicorp SA		92,307		329,680
Randon SA Implementos e Participacoes Preference Shares		199,132		123,317
Restoque Comercio e Confeccoes de Roupas SA		107,627		50,328
Rumo Logistica Operadora Multimodal SA (b)		143,577		226,457
Santos Brasil Participacoes SA		27,510		87,615
Sao Martinho SA		16,713		193,438
Ser Educacional SA (d)		45,046		87,672
SLC Agricola SA		72,036		299,524
Smiles SA		34,832		306,390
Somos Educacao SA		72,224		249,190
Sul America SA		86,085		404,939
TOTVS SA		42,774		335,489
Usinas Siderurgicas de Minas Gerais SA Class A, Preference Shares		388,675		152,277
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA		63,929		686,757
Via Varejo SA		150,829		124,666
				15,818,853
CHILE — 1.8%
Administradora de Fondos de Pensiones Habitat SA		389,714		447,682
Besalco SA		484,384		159,636
E.CL SA		176,366		241,623
Inversiones Aguas Metropolitanas SA		516,295		728,132
Inversiones La Construccion SA		44,696		458,175
Parque Arauco SA		739,317		1,165,316
Ripley Corp. SA		1,034,351		424,586
Salfacorp SA		477,506		252,844
Sociedad Matriz SAAM SA		7,355,233		465,541
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares		17,319		325,263
Vina Concha y Toro SA		693,526		1,038,919
				5,707,717
CHINA — 18.4%
21Vianet Group, Inc. ADR (b)		37,078		783,829
361 Degrees International, Ltd.		794,000		299,153
500.com, Ltd. Class A, ADR (b)		8,313		167,091
51job, Inc. ADR (b)		21,323		628,176
Anton Oilfield Services Group (b) (c)		922,000		89,224
Autohome, Inc. ADR (b)		11,975		418,167

213

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
AVIC International Holding HK, Ltd. (b) (c)		1,590,000	$	162,074
Bank of Chongqing Co., Ltd. Class H		729,500		657,949
Baoxin Auto Group, Ltd. (c) (e)		252,000		157,700
Beijing Capital Land, Ltd. Class H		964,400		441,749
Beijing North Star Co., Ltd. Class H		534,000		176,389
Bitauto Holdings, Ltd. ADR (b)		14,577		412,238
Boer Power Holdings, Ltd. (b) (c)		110,000		198,138
Boshiwa International Holding, Ltd. (b) (c) (f)		1,843,000		—
Boyaa Interactive International, Ltd. (c)		763,200		320,045
Broad Greenstate International Co., Ltd. (c)		496,000		107,518
BYD Electronic International Co., Ltd. (b)		142,000		76,220
Central China Securities Co., Ltd. Class H		320,000		175,068
Chanjet Information Technology Co., Ltd. Class H		25,600		56,352
Chaowei Power Holdings, Ltd. (b) (c)		462,000		326,672
Cheetah Mobile, Inc. ADR (b) (c)		12,484		199,994
China Aerospace International Holdings, Ltd.		1,060,000		143,610
China Aircraft Leasing Group Holdings, Ltd. (c)		82,500		85,160
China Animal Healthcare, Ltd. (b) (c) (f)		1,059,700		177,753
China Assurance Finance Group, Ltd. (b)		647,000		70,960
China Distance Education Holdings, Ltd. ADR		29,773		437,365
China Dongxiang Group Co., Ltd.		3,524,000		841,197
China Electronics Corp. Holdings Co., Ltd.		174,000		67,354
China Energine International Holdings, Ltd.		592,000		52,706
China Fangda Group Co., Ltd. Class B		118,700		110,580
China Foods, Ltd. (b) (c)		588,000		259,474
China Forestry Holdings Co., Ltd. (b) (c) (f)		1,642,000		—
China Hanking Holdings, Ltd. (b)		124,000		61,119
China Harmony New Energy Auto Holding, Ltd.		357,500		252,321
China Hongxing Sports, Ltd. (b) (c) (f)		4,758,000		—
China Huarong Energy Co., Ltd. (b) (c)		1,818,000		57,237
China Huiyuan Juice Group, Ltd. (b)		1,172,400		537,024
China Lilang, Ltd.		799,000		589,702
China Lodging Group, Ltd. ADR		30,183		943,521
China Ming Yang Wind Power Group, Ltd. ADR (b) (c)		41,991		97,419
China National Materials Co., Ltd.		1,046,000		199,748
China NT Pharma Group Co., Ltd. (b)		365,900		118,974
China Overseas Grand Oceans Group, Ltd. (c)		628,000		265,781
China Pioneer Pharma Holdings, Ltd.		376,000		135,843
China Power New Energy Development Co., Ltd. (c)		4,320,000		423,630
China Rare Earth Holdings, Ltd. (b) (c)		1,496,400		127,433
China SCE Property Holdings, Ltd.		1,884,800		425,592
China Shanshui Cement Group, Ltd. (b) (c) (f)		1,224,000		496,697
China Shengmu Organic Milk, Ltd. (b) (d)		379,000		89,491
China Shineway Pharmaceutical Group, Ltd.		291,000		370,971
China Silver Group, Ltd.		856,000		224,212
China Singyes Solar Technologies Holdings, Ltd. (b) (c)		378,000		271,667
China Suntien Green Energy Corp., Ltd. Class H (c)		1,302,000		208,316
China Travel International Investment Hong Kong, Ltd.		3,336,000		1,403,245
China Yurun Food Group, Ltd. (b) (c)		880,000		187,351
China ZhengTong Auto Services Holdings, Ltd.		591,500		272,466
China Zhongwang Holdings, Ltd. (c)		235,200		120,784
Chinasoft International, Ltd. (b)		750,000		310,639
CITIC Resources Holdings, Ltd. (b) (c)		2,733,000		282,111
CITIC Telecom International Holdings, Ltd. (c)		717,000		273,842
CNinsure, Inc. ADR (b) (c)		8,392		77,878
Cogobuy Group (b) (c) (d)		217,000		290,074
Colour Life Services Group Co., Ltd. (c)		487,000		416,613
Consun Pharmaceutical Group, Ltd.		415,600		272,950
Coolpad Group, Ltd. (b)		2,120,000		423,992
Credit China Holdings, Ltd. (c)		1,587,800		620,767
Dah Chong Hong Holdings, Ltd. (c)		543,000		273,947
Dongjiang Environmental Co., Ltd. Class H (c)		92,000		155,981
Dongyue Group, Ltd.		709,000		180,220
E-Commerce China Dangdang, Inc. Class A, ADR (b) (c)		39,093		281,079
E-House China Holdings, Ltd. ADR (c)		47,601		299,410
Eastern Communications Co., Ltd. Class B		52,174		46,383
First Tractor Co., Ltd. Class H (c)		508,500		326,746
Foshan Electrical and Lighting Co., Ltd. Class B		85,600		90,458
Fu Shou Yuan International Group, Ltd.		384,000		298,771
Fufeng Group, Ltd. (c)		779,600		352,071
Future Land Holdings Co., Ltd. Class A (b)		408,869		1,278,817
Fuyao Glass Industry Group Co., Ltd. Class H (b) (c) (d)		104,800		252,597
Greatview Aseptic Packaging Co., Ltd.		796,048		360,526
Guangdong Land Holdings, Ltd. (b) (c)		1,062,000		294,614
Guorui Properties, Ltd.		127,000		51,618
Guotai Junan International Holdings, Ltd. (c)		2,260,000		793,172
Hangzhou Steam Turbine Co., Ltd. Class B		787,050		805,314
Harbin Electric Co., Ltd. Class H (c)		946,000		447,968
Hilong Holding, Ltd. (c)		1,231,000		214,428
Hisense Kelon Electrical Holdings Co., Ltd. Class H (b)		212,000		112,973
HNA International Investment Holdings, Ltd. (b)		3,134,000		177,927

214

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Homeinns Hotel Group ADR (b) (c)		23,048	$	787,320
Honghua Group, Ltd. (b) (c)		3,500,000		216,770
Huadian Energy Co., Ltd. Class B (b)		177,700		106,442
Huangshan Tourism Development Co., Ltd. Class B		249,875		511,494
Huiyin Smart Community Co., Ltd. (b)		76,210		9,538
Inner Mongolia Yitai Coal Co., Ltd. Class B		350,100		319,291
JA Solar Holdings Co., Ltd. ADR (b)		51,154		496,194
Jiangnan Group, Ltd.		422,000		82,765
JinkoSolar Holding Co., Ltd. ADR (b) (c)		18,588		514,330
Jumei International Holding, Ltd. ADR (b)		14,947		135,420
Kama Co., Ltd. Class B (b)		87,700		122,254
Kandi Technologies Group, Inc. (b) (c)		7,914		86,263
Kangda International Environmental Co., Ltd. (b) (c) (d)		1,485,200		360,274
Kingdee International Software Group Co., Ltd. (c)		956,000		439,135
KWG Property Holding, Ltd. (c)		134,500		99,788
Launch Tech Co., Ltd. Class H (b)		63,500		88,161
Leyou Technologies Holdings, Ltd. (b) (c)		774,200		74,921
Li Ning Co., Ltd. (b) (c)		1,724,749		934,685
Lifetech Scientific Corp. (b)		918,000		175,305
Lonking Holdings, Ltd. (c)		1,884,000		274,694
Luoyang Glass Co., Ltd. Class H (b)		380,000		251,040
Maoye International Holdings, Ltd. (c)		1,295,000		152,055
Minth Group, Ltd.		90,000		178,835
Nanjing Panda Electronics Co., Ltd. Class H		106,000		104,220
Noah Holdings, Ltd. ADS (b) (c)		35,866		1,001,737
NQ Mobile, Inc. ADR (b) (c)		48,321		175,888
Ourgame International Holdings, Ltd. (c)		149,000		110,546
Ozner Water International Holding, Ltd. (b) (c) (d)		1,033,000		306,562
Pacific Online, Ltd.		720,100		218,349
Parkson Retail Group, Ltd. (c)		2,254,500		293,807
Peak Sport Products Co., Ltd.		951,000		266,275
Phoenix Healthcare Group Co., Ltd.		507,500		593,272
Poly Culture Group Corp., Ltd. Class H		130,200		356,153
Poly Property Group Co., Ltd. (c)		1,643,000		536,350
PW Medtech Group, Ltd. (b) (c)		1,972,000		470,726
Qunar Cayman Islands, Ltd. ADR (b) (c)		19,836		1,046,151
Real Gold Mining, Ltd. (b) (f)		251,500		—
Renren, Inc. ADR (b) (c)		93,216		343,035
Shandong Airlines Co., Ltd. Class B		44,800		144,398
Shandong Chenming Paper Holdings, Ltd. Class B		136,600		96,588
Shandong Chenming Paper Holdings, Ltd. Class H		85,492		61,112
Shandong Molong Petroleum Machinery Co., Ltd. Class H (b)		223,600		90,592
Shang Gong Group Co., Ltd. Class B (b)		101,000		130,492
Shanghai Chlor-Alkali Chemical Co., Ltd. Class B (b)		128,000		113,536
Shanghai Diesel Engine Co., Ltd. Class B		327,660		306,034
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H		378,000		406,769
Shanghai Greencourt Investment Group Co., Ltd. Class B (b)		421,100		334,774
Shanghai Haixin Group Co. Class B(e)		568,628		510,059
Shanghai Highly Group Co., Ltd. Class B		116,400		109,998
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H (c)		842,000		355,263
Shanghai Jinjiang International Industrial Investment Co., Ltd. Class B		100,600		239,227
Shanghai Jinjiang International Travel Co., Ltd. Class B		23,000		115,230
Shanghai Potevio Co., Ltd. Class B (b)		70,800		162,557
Shanghai Shibei Hi-Tech Co., Ltd. Class B		106,500		162,093
Shenguan Holdings Group, Ltd.		1,428,010		208,209
Shenwan Hongyuan HK, Ltd. (c)		115,000		57,425
Shenzhen China Bicycle Co. Holdings, Ltd. Class B (b)		15,000		12,658
Shenzhen Expressway Co., Ltd. Class H		320,000		282,833
Shenzhen SEG Co., Ltd. Class B (b)		123,100		88,948
Shougang Concord International Enterprises Co., Ltd. (b)		7,466,000		269,734
Shougang Fushan Resources Group, Ltd.		2,428,000		313,284
Shui On Land, Ltd. (c)		376,000		103,337
Shunfeng International Clean Energy, Ltd. (b)		1,179,300		299,765
Sichuan Expressway Co., Ltd. Class H (c)		1,264,000		451,769
Sinofert Holdings, Ltd.		1,254,000		213,580
Sinosoft Technology Group, Ltd.		108,000		58,528
Sinotrans Shipping, Ltd.		1,697,500		335,113
Sinotruk Hong Kong, Ltd.		436,500		172,907
SITC International Holdings Co., Ltd. (c)		398,000		211,064
Sohu.com, Inc. (b)		6,552		374,709
SouFun Holdings, Ltd. ADR		102,909		760,497
Springland International Holdings, Ltd.		1,053,000		243,204
SPT Energy Group, Inc. (b) (c)		1,032,000		94,543
Sun King Power Electronics Group (b)		587,000		96,190
Sunac China Holdings, Ltd.		745,000		576,763
Sunny Optical Technology Group Co., Ltd.		426,000		979,506
TAL Education Group ADR (b) (c)		40,901		1,900,669
TCL Communication Technology Holdings, Ltd. (c)		540,000		397,850
Tian Ge Interactive Holdings, Ltd. (d)		580,000		241,724
Tiangong International Co., Ltd. (c)		1,344,000		114,455
Tianjin Capital Environmental Protection Group Co., Ltd. Class H		416,000		323,669
Tianjin Development Holdings, Ltd.		652,000		394,558
Tianjin Port Development Holdings, Ltd.		3,196,000		531,969
Tianjin Tianhai Investment Co., Ltd. Class B (b)		55,300		35,447
Tianjin ZhongXin Pharmaceutical Group Corp., Ltd.		113,000		122,040

215

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Tianneng Power International, Ltd. (b)		756,000	$	636,979
Tianyun International Holdings, Ltd. (b)		15,632		2,441
Tong Ren Tang Technologies Co., Ltd. Class H		356,000		584,288
TPV Technology, Ltd. (c)		1,020,000		134,243
Trina Solar, Ltd. ADR (b) (c)		44,749		493,134
V1 Group, Ltd. (c)		1,774,999		114,514
Wang Tai Holdings, Ltd. (b)		590,000		46,438
Weibo Corp. ADR (b)		390		7,605
West China Cement, Ltd. (c)		2,064,000		426,108
Wisdom Sports Group (c)		970,000		654,581
Wumart Stores, Inc. Class H (b)		386,000		309,790
Xiamen International Port Co., Ltd. Class H		422,000		102,912
Xinchen China Power Holdings, Ltd. (b) (c)		625,000		143,546
Xinhua Winshare Publishing and Media Co., Ltd. Class H		405,000		369,980
Yestar International Holdings Co., Ltd. (c)		1,576,600		691,656
Yingde Gases Group Co., Ltd.		950,500		439,061
Yingli Green Energy Holding Co., Ltd. ADR (b) (c)		11,965		54,203
YuanShengTai Dairy Farm, Ltd. (b) (c)		4,157,000		332,554
Yuexiu Transport Infrastructure, Ltd. (c)		916,549		574,754
YY, Inc. ADR (b)		12,009		750,202
Zhaojin Mining Industry Co., Ltd. Class H (c)		768,000		434,035
Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H (e)		194,400		90,049
Zhonglu Co., Ltd. Class B (b)		31,200		118,154
				59,401,276
COLOMBIA — 0.0% (a)
Avianca Holdings SA Preference Shares		175,475		93,694
CYPRUS — 0.2%
Global Ports Investments PLC GDR (b)		24,778		80,528
Globaltrans Investment PLC GDR (b)		87,640		398,762
				479,290
CZECH REPUBLIC — 0.3%
Philip Morris CR A/S		1,792		864,400
EGYPT — 1.3%
Arab Cotton Ginning (b)		377,585		140,810
Citadel Capital SAE (b)		494,355		101,017
Eastern Tobacco		21,910		489,684
Egypt Kuwait Holding Co. SAE		560,800		291,616
Egyptian Financial Group-Hermes Holding Co. (b)		421,947		474,754
ElSewedy Electric Co.		107,754		504,913
Ezz Steel (b)		389,437		444,642
Juhayna Food Industries		484,105		493,376
Maridive & Oil Services SAE (b)		215,879		64,764
Orascom Telecom Media And Technology Holding SAE (b)		3,114,639		282,424
Sidi Kerir Petrochemicals Co.		130,701		189,624
Six of October Development & Investment (b)		449,951		544,190
				4,021,814
GREECE — 1.4%
Aegean Airlines SA		45,537		337,858
Aegean Marine Petroleum Network, Inc.		18,485		154,534
Alpha Bank AE (b)		48,017		129,880
Costamare, Inc.		29,534		307,744
Diana Shipping, Inc. (b)		109,554		476,560
DryShips, Inc. (b)		332,995		57,908
Ellaktor SA (b)		74,575		117,466
Eurobank Ergasias SA (b)		26,858		30,343
FF Group (b)		10,151		190,768
Grivalia Properties REIC AE		20,695		165,685
Hellenic Exchanges — Athens Stock Exchange SA		44,208		254,523
JUMBO SA (b)		36,208		381,528
Metka SA		17,758		138,506
Motor Oil Hellas Corinth Refineries SA		15,405		166,508
Mytilineos Holdings SA (b)		60,401		240,802
Piraeus Bank SA (b)		11,099		3,352
Public Power Corp. SA		47,984		202,245
Star Bulk Carriers Corp. (b)		37,156		22,483
StealthGas, Inc. (b)		35,596		122,094
Titan Cement Co. SA		18,013		344,584
Tsakos Energy Navigation, Ltd.		88,146		698,116
				4,543,487
HONG KONG — 5.1%
AAG Energy Holdings, Ltd. (b) (d)		777,000		140,359
AGTech Holdings, Ltd. (b) (c)		594,048		154,833
Ajisen China Holdings, Ltd. (c)		543,000		241,017
Allied Cement Holdings, Ltd. (b)		351,740		27,231
Anxin-China Holdings, Ltd. (b) (f)		2,248,000		55,111
Asia Resources Holdings, Ltd. (b)		654,626		36,320
Beijing Enterprises Clean Energy Group, Ltd. (b) (c)		7,448,400		605,471
Beijing Enterprises Medical & Health Group, Ltd. (b)		1,769,600		150,699
Carnival Group International Holdings, Ltd. (b) (c)		2,950,000		380,638
CGN Meiya Power Holdings Co., Ltd. (b) (d)		356,000		78,089
Chiho-Tiande Group, Ltd. (b) (e)		338,000		225,474
China All Access Holdings, Ltd.		320,000		107,353
China Animation Characters Co., Ltd. (b)		88,000		46,667
China Beidahuang Industry Group Holdings, Ltd. Class A (b)		1,718,400		168,511
China Chengtong Development Group, Ltd. (b)		1,426,000		163,757
China Finance Investment Holdings, Ltd. (b)		586,232		15,885
China Financial International Investments, Ltd. (b) (c)		2,280,000		294,188
China High Precision Automation Group, Ltd. (b) (f)		1,226,000		—
China High Speed Transmission Equipment Group Co., Ltd. (b)		828,000		666,661
China Lumena New Materials Corp. (b) (c) (f)		4,287,298		—
China Metal Recycling Holdings, Ltd. (b) (c) (f)		693,675		—

216

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
China Minsheng Drawin Technology Group, Ltd. (b)		1,380,000	$	87,250
China Nuclear Energy Technology Corp., Ltd. (b)		394,000		88,966
China Ocean Shipbuilding Industry Group, Ltd. (b) (c)		7,977,200		241,885
China Oil & Gas Group, Ltd. (b) (c)		3,948,000		269,987
China Overseas Property Holdings, Ltd. (b) (c)		586,232		96,065
China Precious Metal Resources Holdings Co., Ltd. (b) (c)		2,266,000		86,253
China Properties Investment Holdings, Ltd. (b)		3,722,576		52,355
China Public Procurement, Ltd. (b) (c)		2,520,000		71,534
China Soft Power Technology Holdings, Ltd. (b)		1,708,000		130,026
China Vanguard Group, Ltd. (b)		635,000		71,282
Comba Telecom Systems Holdings, Ltd. (c)		753,038		137,973
Concord New Energy Group, Ltd.		6,540,000		392,392
Dawnrays Pharmaceutical Holdings, Ltd.		512,000		397,701
Digital China Holdings, Ltd. (c)		528,000		605,655
Golden Meditech Holdings, Ltd. (c)		628,000		101,288
Greater China Financial Holdings, Ltd. (b)		332,200		60,009
Hang Fat Ginseng Holdings Co., Ltd. (c)		3,220,000		290,833
Hengdeli Holdings, Ltd.		1,708,400		249,091
Hi Sun Technology China, Ltd. (b) (c)		924,000		170,490
Hua Han Bio-Pharmaceutical Holdings, Ltd. Class H (c)		2,734,560		381,067
Huabao International Holdings, Ltd.		898,000		327,909
Huajun Holdings, Ltd.		708,000		87,699
Ju Teng International Holdings, Ltd.		765,500		364,470
Kingboard Laminates Holdings, Ltd. (c)		817,000		371,069
MIE Holdings Corp. (b)		1,594,754		216,059
Millennium Pacific Group Holdings, Ltd. (b)		841,000		134,557
National Agricultural Holdings, Ltd. (b)		428,000		185,555
Neo Telemedia, Ltd. (b)		3,808,000		280,067
NetDragon Websoft, Inc. (c)		202,000		559,073
NewOcean Energy Holdings, Ltd. (c)		918,000		360,086
Newtree Group Holdings, Ltd. (b)		188,000		63,312
Pou Sheng International Holdings, Ltd. (b)		449,000		107,758
Real Nutriceutical Group, Ltd. (c)		925,000		94,289
REXLot Holdings, Ltd. (c) (f)		13,122,064		558,735
Skyworth Digital Holdings, Ltd.		1,388,622		906,618
SSY Group, Ltd. (c)		1,555,562		401,428
Suncorp Technologies, Ltd. (b) (c)		7,100,000		113,598
Tack Fiori International Group, Ltd. (b)		912,000		235,350
Tech Pro Technology Development, Ltd. (b) (c)		5,685,100		1,298,378
United Energy Group, Ltd. (b) (c)		3,328,000		292,000
United Laboratories International Holdings, Ltd. (b)		756,500		418,751
Universal Medical Financial & Technical Advisory Services Co., Ltd. (b) (d)		292,900		226,379
Vision Values Holdings, Ltd. (b) (e)		80,000		5,161
Wanda Hotel Development Co., Ltd. (b)		412,000		54,755
Wasion Group Holdings, Ltd.		589,000		614,068
Xinyi Glass Holdings, Ltd.		286,000		168,275
Yip’s Chemical Holdings, Ltd.		335,580		114,311
Yuhua Energy Holdings, Ltd. (b)		439,300		60,084
Zhidao International Holdings, Ltd. (b)		1,350,000		247,350
				16,407,510
HUNGARY — 0.1%
Magyar Telekom Telecommunications PLC (b)		273,740		382,050
INDIA — 10.9%
Adani Enterprises, Ltd.		85,961		108,367
AIA Engineering, Ltd.		29,600		399,394
Amtek Auto, Ltd.		162,175		121,467
Apollo Tyres, Ltd.		310,878		734,007
Arvind, Ltd.		157,477		852,652
Bajaj Hindusthan Sugar, Ltd. (b)		15,195		4,088
Balkrishna Industries, Ltd.		34,984		342,430
Balrampur Chini Mills, Ltd. (b)		394,746		417,681
Bata India, Ltd.		94,190		743,127
Biocon, Ltd.		102,989		806,554
Castex Technologies, Ltd.		22,487		4,606
Ceat, Ltd.		4,264		67,766
CESC, Ltd.		102,674		797,103
Chennai Super Kings Cricket, Ltd. (b) (e)		418,560		14,235
Coromandel International, Ltd.		133,468		379,788
Credit Analysis & Research, Ltd.		11,445		227,806
Crompton Greaves, Ltd.		85,943		249,750
Dewan Housing Finance Corp., Ltd.		238,167		846,916
Dish TV India, Ltd. (b)		614,278		942,918
Eros International Media, Ltd. (b)		996		3,624
Federal Bank, Ltd.		1,194,086		1,010,771
Force Motors, Ltd.		191		8,941
Fortis Healthcare, Ltd. (b)		203,284		553,255
Gateway Distriparks, Ltd.		166,371		812,915
GMR Infrastructure, Ltd. (b)		956,882		237,209
Godfrey Phillips India, Ltd.		949		19,629
Godrej Industries, Ltd.		163,599		937,731
Gujarat Pipavav Port, Ltd. (b)		192,572		411,597
Hexaware Technologies, Ltd.		194,387		715,183
Housing Development & Infrastructure, Ltd. (b)		319,743		376,502
IFCI, Ltd.		861,184		359,281
India Cements, Ltd. (b)		362,387		530,520
Indiabulls Real Estate, Ltd. (b)		407,181		393,602
Indian Hotels Co., Ltd. (b)		612,904		1,081,629
Info Edge India, Ltd.		79,363		1,023,704
Ipca Laboratories, Ltd.		58,616		657,341
IRB Infrastructure Developers, Ltd.		186,922		688,424
Jain Irrigation Systems, Ltd.		254,246		265,559
Jaiprakash Associates, Ltd. (b)		645,630		116,134
Jammu & Kashmir Bank, Ltd.		370,225		460,849
JSW Energy, Ltd.		217,042		279,028
Jubilant Foodworks, Ltd.		48,106		1,078,992
Just Dial, Ltd.		40,093		510,736
KPIT Technologies, Ltd.		43,904		112,122
Mahindra CIE Automotive, Ltd. (b)		17,069		64,786
Marksans Pharma, Ltd.		50,925		80,595

217

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
McLeod Russel India, Ltd.		109,521	$	287,310
Mindtree, Ltd.		37,799		819,187
Mphasis, Ltd.		81,250		611,068
NCC, Ltd.		86,129		98,684
PC Jeweller, Ltd.		12,904		76,120
PI Industries, Ltd.		31,740		311,397
Pipavav Defence & Offshore Engineering Co., Ltd. (b)		301,222		405,234
PTC India, Ltd.		375,937		379,879
Punj Lloyd, Ltd. (b)		596,553		245,272
Reliance Infrastructure, Ltd.		32,189		264,664
Rolta India, Ltd.		200,918		304,917
Shriram City Union Finance, Ltd.		6,130		147,328
Sintex Industries, Ltd.		366,756		564,357
SKS Microfinance, Ltd. (b)		160,251		1,208,854
Strides Arcolab, Ltd.		60,749		1,183,966
Sun Pharma Advanced Research Co., Ltd. (b)		15,610		80,166
Suzlon Energy, Ltd. (b)		1,180,667		372,103
Symphony, Ltd.		3,301		115,295
Tata Chemicals, Ltd.		144,711		878,137
Tata Elxsi, Ltd.		2,233		75,744
Tata Global Beverages, Ltd.		435,862		963,220
Thermax, Ltd.		54,090		739,487
TVS Motor Co., Ltd.		171,584		751,630
Union Bank of India		62,005		139,322
Unitech, Ltd. (b)		1,476,076		148,375
Vakrangee, Ltd.		171,322		451,895
Videocon Industries, Ltd.		117,175		216,173
Voltas, Ltd.		230,285		1,128,864
Welspun Corp., Ltd.		186,556		325,279
Welspun India, Ltd.		10,443		144,097
WNS Holdings, Ltd. ADR (b)		27,020		842,754
				35,132,092
INDONESIA — 3.6%
Adaro Energy Tbk PT		4,968,600		185,624
Adhi Karya Persero Tbk PT		900,291		139,762
AKR Corporindo Tbk PT		1,537,600		800,310
Alam Sutera Realty Tbk PT		14,700,600		365,782
Astra Agro Lestari Tbk PT		160,100		184,083
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		5,021,900		275,048
Bank Tabungan Negara Persero Tbk PT		3,655,886		343,444
Bumitama Agri, Ltd. (c)		273,700		136,016
Ciputra Development Tbk PT		9,286,709		983,576
Dharma Satya Nusantara Tbk PT		1,532,400		66,699
Eagle High Plantations Tbk PT		2,278,400		22,809
Energi Mega Persada Tbk PT (b)		27,828,000		100,936
Gajah Tunggal Tbk PT		1,628,500		62,612
Garuda Indonesia Persero Tbk PT (b)		7,838,300		175,701
Global Mediacom Tbk PT		941,000		75,089
Indosat Tbk PT (b)		389,500		155,404
Intiland Development Tbk PT		4,859,900		172,397
Japfa Comfeed Indonesia Tbk PT (b)		4,546,400		209,428
Kawasan Industri Jababeka Tbk PT		22,322,338		399,972
Link Net Tbk PT (b)		298,100		86,500
Lippo Karawaci Tbk PT		5,236,200		393,142
Matahari Putra Prima Tbk PT		2,184,200		289,167
Medco Energi Internasional Tbk PT		1,429,300		82,430
Media Nusantara Citra Tbk PT		1,975,500		265,836
Mitra Adiperkasa Tbk PT (b)		791,700		217,954
MNC Investama Tbk PT		10,320,500		130,270
MNC Sky Vision Tbk PT (b)		1,283,100		124,261
Modernland Realty Tbk PT		4,889,400		165,640
Pakuwon Jati Tbk PT		15,581,700		560,647
Pembangunan Perumahan Persero Tbk PT		3,715,700		1,044,493
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		2,524,400		241,727
Siloam International Hospitals Tbk PT		794,400		564,753
Summarecon Agung Tbk PT		9,488,800		1,135,765
Surya Semesta Internusa Tbk PT		2,686,700		139,354
Tambang Batubara Bukit Asam Persero Tbk PT		228,600		75,039
Timah Persero Tbk PT		3,261,629		119,487
Vale Indonesia Tbk PT		1,069,800		126,886
Waskita Karya Persero Tbk PT		957,800		116,034
Wijaya Karya Persero Tbk PT		3,370,900		645,569
XL Axiata Tbk PT (b)		1,365,400		361,531
				11,741,177
MALAYSIA — 5.1%
Aeon Co. M Bhd		889,700		565,711
AirAsia Bhd		528,400		158,760
Berjaya Auto Bhd		530,860		264,595
Berjaya Corp. Bhd		3,452,600		301,555
Berjaya Sports Toto Bhd		1,023,158		726,827
Boustead Holdings Bhd		526,460		527,257
Boustead Plantations Bhd		477,600		165,745
Bumi Armada Bhd (b)		427,600		101,584
Bursa Malaysia Bhd		558,473		1,086,118
Cahya Mata Sarawak Bhd		377,200		450,690
Carlsberg Brewery Malaysia Bhd Class B		78,700		214,461
Datasonic Group Bhd		612,800		199,818
DRB-Hicom Bhd		1,076,400		310,874
Eastern & Oriental Bhd (b)		1,150,352		383,138
Evergreen Fibreboard Bhd (b)		149,500		82,175
Felda Global Ventures Holdings Bhd		258,300		102,875
Gas Malaysia Bhd		282,700		158,025
IGB Real Estate Investment Trust		454,100		141,724
Inari Amertron Bhd		498,875		532,164
KNM Group Bhd (b)		3,013,606		357,969
KPJ Healthcare Bhd		975,093		958,401
Magnum Bhd		1,239,600		724,676
Malakoff Corp. Bhd		792,300		295,256
Malaysia Airports Holdings Bhd		85,000		111,063
Malaysian Bulk Carriers Bhd		639,000		119,808
Malaysian Resources Corp. Bhd		1,405,400		418,985
Media Prima Bhd		1,347,300		398,526
Nam Cheong, Ltd. (c)		2,053,800		195,441
Oriental Holdings Bhd		222,500		360,167
OSK Holdings Bhd		927,300		352,044
Padini Holdings Bhd		483,200		210,454
Parkson Holdings Bhd (b)		370,976		87,268
Pavilion Real Estate Investment Trust		667,300		240,903
Pos Malaysia Bhd		591,600		383,055
Press Metal Bhd		599,100		291,631
Silverlake Axis, Ltd. (c)		228,800		106,445
Sunway Real Estate Investment Trust		2,794,000		950,097
Top Glove Corp. Bhd		383,600		1,213,296
TSH Resources Bhd		530,700		242,267

218

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
UEM Sunrise Bhd		270,700	$	70,615
UOA Development Bhd		1,554,300		745,745
Wah Seong Corp. Bhd		1,106,484		246,114
WCT Holdings Bhd		1,174,386		440,378
Yinson Holdings Bhd		445,900		304,294
				16,298,994
MEXICO — 2.4%
Asesor de Activos Prisma SAPI de CV (b)		315,934		254,450
Axtel SAB de CV (b) (c)		1,340,013		675,005
Banregio Grupo Financiero SAB de CV (c)		174,415		892,113
Bolsa Mexicana de Valores SAB de CV (c)		467,134		618,296
Concentradora Fibra Hotelera Mexicana SA de CV		277,409		251,852
Consorcio ARA SAB de CV		1,495,887		517,939
Controladora Vuela Cia de Aviacion SAB de CV Class A (b) (c)		46,631		79,783
Corp. Inmobiliaria Vesta SAB de CV (c)		179,989		273,561
Credito Real SAB de CV SOFOM ER		168,996		426,033
Empresas ICA SAB de CV (b) (c)		582,571		119,745
Genomma Lab Internacional SAB de CV Class B (b) (c)		99,601		79,872
Grupo Aeromexico SAB de CV (b) (c)		83,784		190,599
Grupo Aeroportuario del Centro Norte SAB de CV (b) (c)		185,593		898,460
Grupo GICSA SA de CV (b) (c)		275,027		257,492
Hoteles City Express SAB de CV (b)		109,553		146,145
Megacable Holdings SAB de CV		134,270		499,028
Mexico Real Estate Management SA de CV (b)		505,071		638,973
PLA Administradora Industrial S de RL de CV (b)		299,440		485,279
Prologis Property Mexico SA de CV (b)		110,303		166,817
Qualitas Controladora SAB de CV (b)		118,827		149,435
TV Azteca SAB de CV (c)		1,148,858		160,311
Urbi Desarrollos Urbanos SAB de CV (b) (c) (f)		679,159		—
Vitro SAB de CV Series A		24,942		77,493
				7,858,681
MONACO — 0.2%
GasLog, Ltd. (c)		42,903		356,095
Navios Maritime Holdings, Inc. (c)		77,113		134,948
				491,043
PERU — 0.6%
Alicorp SAA (b)		136,628		232,289
Cia de Minas Buenaventura SAA ADR		85,657		366,612
Ferreycorp SAA		1,621,584		641,703
Grana y Montero SAA		80,217		46,323
Luz del Sur SAA		183,894		493,230
Minsur SA		231,340		33,906
Volcan Cia Minera SAA Class B		520,996		29,017
				1,843,080
PHILIPPINES — 1.6%
Belle Corp.		2,246,400		138,923
Cebu Air, Inc.		406,260		710,987
Cosco Capital, Inc.		4,634,800	$	807,680
D&L Industries, Inc.		2,494,000		484,967
DoubleDragon Properties Corp.		173,300		89,863
First Gen Corp.		778,700		374,001
First Philippine Holdings Corp.		258,250		357,011
Manila Water Co., Inc.		851,900		448,988
Philex Mining Corp.		951,400		88,963
Rizal Commercial Banking Corp.		316,880		222,230
Robinsons Retail Holdings, Inc.		284,960		381,521
Security Bank Corp.		305,544		922,054
SM Prime Holdings, Inc.		1		1
				5,027,189
POLAND — 2.8%
Alior Bank SA (b)		46,103		776,371
Alumetal SA		10,176		130,906
AmRest Holdings SE (b)		10,836		516,425
Asseco Poland SA		85,511		1,229,953
Bank Millennium SA (b)		57,641		81,157
Boryszew SA		92,882		110,547
CCC SA		11,984		420,462
Ciech SA (b)		43,443		946,099
Echo Investment SA (b)		241,609		422,163
Emperia Holding SA		22,783		394,626
Eurocash SA		75,956		932,872
Fabryki Mebli Forte SA		7,529		101,811
Getin Noble Bank SA (b)		355,607		54,031
Globe Trade Centre SA (b)		307,538		556,831
Grupa Kety SA		1,769		140,214
Grupa Lotos SA (b)		88,368		604,195
Inter Cars SA		2,372		142,958
Jastrzebska Spolka Weglowa SA (b)		46,624		125,741
KRUK SA		6,702		295,306
Lubelski Wegiel Bogdanka SA		8,623		72,518
Netia SA		420,989		575,682
PKP Cargo SA		11,778		204,127
Sanok Rubber Co. SA		7,836		110,130
Synthos SA		156,713		151,199
Zespol Elektrowni Patnow Adamow Konin SA		16,160		36,830
				9,133,154
QATAR — 0.5%
Al Meera Consumer Goods Co. QSC		11,297		682,355
Mannai Corp. QSC		12,597		329,598
Medicare Group		10,077		330,062
Salam International Investment, Ltd. QSC		83,988		272,558
				1,614,573
RUSSIA — 0.7%
Aeroflot Russian Airlines PJSC (b)		444,216		341,213
CTC Media, Inc.		55,260		102,231
DIXY Group PJSC (b)		21,926		92,315
Etalon Group, Ltd. GDR		48,702		87,177
Exillon Energy PLC (b)		63,877		100,739
LSR Group PJSC GDR		155,223		310,446
Mechel ADR (b)		174,845		142,988
QIWI PLC ADR (c)		30,701		551,083
Ros Agro PLC GDR		7,858		108,048
TCS Group Holding PLC GDR		95,674		291,806
TMK PAO GDR		46,841		149,891
				2,277,937

219

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SINGAPORE — 0.4%
Asian Pay Television Trust		650,500	$	293,462
SIIC Environment Holdings, Ltd. (b)		921,760		497,054
Yanlord Land Group, Ltd. (c)		707,000		500,853
				1,291,369
SOUTH AFRICA — 4.9%
Adcock Ingram Holdings, Ltd.		159,747		515,256
AECI, Ltd.		74,004		423,426
African Bank Investments, Ltd. (b) (f)		1,222,985		—
African Rainbow Minerals, Ltd. (c)		37,051		103,893
Alexander Forbes Group Holdings, Ltd.		159,890		61,189
Aquarius Platinum, Ltd. (b)		1,249,909		207,252
ArcelorMittal South Africa, Ltd. (b) (c)		224,405		65,169
Arrowhead Properties, Ltd. Class A		174,262		94,916
Assore, Ltd.		22,047		88,356
Attacq, Ltd. (b)		189,914		223,551
Aveng, Ltd. (b) (c)		318,885		46,509
Clicks Group, Ltd.		218,863		1,257,062
Coronation Fund Managers, Ltd.		60,647		207,042
Curro Holdings, Ltd. (b)		24,142		90,037
DataTec, Ltd. (c)		240,585		799,595
Emira Property Fund, Ltd.		268,031		280,390
EOH Holdings, Ltd.		22,616		197,035
Exxaro Resources, Ltd. (c)		54,159		153,926
Famous Brands, Ltd. (c)		31,490		264,186
Grindrod, Ltd. (c)		525,710		383,032
Harmony Gold Mining Co., Ltd. (b) (c)		250,331		252,019
Hosken Consolidated Investments, Ltd.		97,975		730,284
Illovo Sugar, Ltd.		123,495		134,689
JSE, Ltd.		120,877		998,500
KAP Industrial Holdings, Ltd.		124,924		55,627
Lewis Group, Ltd. (c)		157,096		556,788
Merafe Resources, Ltd.		3,177,610		139,445
Montauk Holdings, Ltd. (b)		1		1
Mpact, Ltd.		176,442		534,490
Murray & Roberts Holdings, Ltd.		288,696		149,048
Nampak, Ltd.		140,523		225,356
Northam Platinum, Ltd. (b)		367,853		626,481
Omnia Holdings, Ltd.		29,730		255,426
Pick n Pay Holdings, Ltd.		150,252		271,502
PPC, Ltd. (c)		434,215		431,539
Reunert, Ltd. (c)		198,829		876,128
SA Corporate Real Estate Fund Nominees Pty, Ltd.		2,890,437		858,056
Sappi, Ltd. (b)		169,946		715,735
Sibanye Gold, Ltd.		333,727		492,121
Sun International, Ltd.		92,230		554,434
Super Group, Ltd. (b)		331,574		811,843
Tongaat Hulett, Ltd.		10,463		62,850
Wilson Bayly Holmes-Ovcon, Ltd.		70,821		517,646
				15,711,830
TAIWAN — 26.8%
A-DATA Technology Co., Ltd. (c)		211,652		214,571
Ability Enterprise Co., Ltd. (b)		289,141		205,982
AcBel Polytech, Inc.		269,000		190,406
Accton Technology Corp.		546,341		531,421
Adlink Technology, Inc.		98,153		227,102
Advanced Ceramic X Corp.		40,642		269,734
AGV Products Corp. (b)		1,304,926		356,752
Airtac International Group		89,200		412,774
Alpha Networks, Inc.		385,513		200,696
Altek Corp.		181,516		148,100
AmTRAN Technology Co., Ltd.		697,717		334,552
Arcadyan Technology Corp.		234,172		281,602
Asia Optical Co., Inc. (b)		182,540		161,995
Asia Polymer Corp.		441,367		231,789
Aten International Co., Ltd.		170,000		364,356
Basso Industry Corp.		164,800		316,585
BES Engineering Corp.		2,009,356		438,000
Capital Securities Corp.		1,907,730		575,566
Career Technology MFG. Co., Ltd.		215,726		162,220
Casetek Holdings, Ltd.		102,000		417,664
Cathay No 1 REIT		856,000		461,787
Cathay Real Estate Development Co., Ltd.		1,437,904		586,596
Center Laboratories, Inc. (b)		148,900		336,812
Chailease Holding Co., Ltd.		43,000		74,488
Chang Wah Electromaterials, Inc.		88,577		231,373
Charoen Pokphand Enterprise		561,675		393,294
Cheng Loong Corp.		1,185,128		409,511
Cheng Uei Precision Industry Co., Ltd.		267,915		371,119
Chin-Poon Industrial Co., Ltd.		167,000		268,953
China Airlines, Ltd. (b)		450,000		164,399
China Bills Finance Corp.		706,394		246,239
China Chemical & Pharmaceutical Co., Ltd.		506,000		304,244
China Man-Made Fiber Corp. (b)		1,234,904		322,571
China Motor Corp.		685,000		452,538
China Petrochemical Development Corp. (b)		1,266,575		305,780
China Steel Chemical Corp. (c)		149,000		483,103
China Synthetic Rubber Corp.		544,832		383,159
Chipbond Technology Corp.		337,000		487,848
ChipMOS TECHNOLOGIES Bermuda, Ltd.		32,894		651,301
Chlitina Holding, Ltd.		13,678		143,039
Chong Hong Construction Co., Ltd.		230,275		335,805
Chroma ATE, Inc.		255,680		497,396
Chung Hung Steel Corp. (b)		785,239		113,553
Clevo Co.		421,265		404,631
CMC Magnetics Corp. (b)		990,788		104,366
Coretronic Corp.		308,065		256,041
CTCI Corp.		584,000		637,392
CyberTAN Technology, Inc.		438,210		216,123
D-Link Corp. (b)		879,054		275,649
Darwin Precisions Corp.		639,576		199,581
Dynapack International Technology Corp.		76,000		112,217
E Ink Holdings, Inc. (b)		631,000		300,641
Elan Microelectronics Corp. (c)		470,899		656,595
Elite Material Co., Ltd.		268,782		470,514
Elite Semiconductor Memory Technology, Inc. (c)		256,674		237,943
eMemory Technology, Inc. (c)		43,000		484,367
Epistar Corp.		550,572		427,424
Eternal Materials Co., Ltd.		670,099		645,679
Everlight Chemical Industrial Corp.		458,147		279,656
Everlight Electronics Co., Ltd. (c)		341,503		496,446
Excelsior Medical Co., Ltd.		173,403		260,260
Far Eastern Department Stores, Ltd.		669,490		371,973
Far Eastern International Bank		2,357,211		702,563
Faraday Technology Corp.		231,385		315,586

220

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Farglory Land Development Co., Ltd.		194,464	$	202,770
Feng Hsin Steel Co., Ltd.		340,270		397,277
Firich Enterprises Co., Ltd. (c)		121,837		338,282
FLEXium Interconnect, Inc.		179,280		429,547
Formosa Taffeta Co., Ltd.		842,000		769,020
Formosan Rubber Group, Inc.		371,124		186,991
FSP Technology, Inc.		306,490		211,810
Gemtek Technology Corp.		363,234		205,686
GeoVision, Inc. (c)		101,753		223,041
Gigabyte Technology Co., Ltd.		302,000		335,126
Gigastorage Corp. (b)		343,114		370,827
Ginko International Co., Ltd. (c)		39,000		516,486
Gintech Energy Corp. (b)		373,172		364,117
Global Unichip Corp.		90,669		182,183
Gloria Material Technology Corp.		459,913		251,330
Goldsun Building Materials Co., Ltd.		1,595,041		434,124
Grand Pacific Petrochemical		885,000		417,618
Grape King Bio, Ltd.		108,000		601,699
Great Wall Enterprise Co., Ltd.		757,867		477,604
HannStar Display Corp. (b) (c)		1,640,599		194,293
HannsTouch Solution, Inc. (b)		542,511		128,662
Hey Song Corp.		360,770		344,328
Highwealth Construction Corp.		646,730		746,219
Himax Technologies, Inc. ADR		67,490		553,418
Ho Tung Chemical Corp. (b) (c)		1,424,482		317,448
HTC Corp. (c)		149,000		353,822
Huaku Development Co., Ltd.		271,260		486,413
Huang Hsiang Construction Corp.		264,484		196,469
I-Sheng Electric Wire & Cable Co., Ltd.		322,000		330,362
Ibase Technology, Inc.		289,663		444,455
Ichia Technologies, Inc. (c)		163,000		76,669
Iron Force Industrial Co., Ltd.		4,000		19,241
ITE Technology, Inc.		222,887		195,086
Jess-Link Products Co., Ltd.		218,974		189,328
Jih Sun Financial Holdings Co., Ltd.		1,572,918		340,950
KEE TAI Properties Co., Ltd.		878,076		422,370
Kenda Rubber Industrial Co., Ltd.		537,632		792,200
Kerry TJ Logistics Co., Ltd.		421,000		496,018
King Slide Works Co., Ltd.		49,000		635,492
King Yuan Electronics Co., Ltd.		1,085,656		712,269
King’s Town Bank Co., Ltd.		1,181,000		841,337
Kinpo Electronics (b)		1,060,371		310,231
Kinsus Interconnect Technology Corp. (c)		166,030		338,156
Kuoyang Construction Co., Ltd.		780,527		255,447
KYE Systems Corp.		607,855		167,476
LCY Chemical Corp. (b)		429,862		435,136
Lingsen Precision Industries, Ltd.		672,694		185,136
Long Bon International Co., Ltd.		352,000		221,828
Longwell Co.		267,000		236,136
Lumax International Corp., Ltd.		176,358		233,286
Lung Yen Life Service Corp.		168,000		275,678
Macronix International (b)		2,653,170		386,098
Makalot Industrial Co., Ltd. (c)		128,014		908,067
Masterlink Securities Corp.		1,329,826		379,349
Medigen Biotechnology Corp. (b)		72,000		187,414
Mercuries & Associates Holding, Ltd.		441,835		283,150
Merry Electronics Co., Ltd.		94,000		167,699
Micro-Star International Co., Ltd.		502,000		717,536
Microbio Co., Ltd. (b)		465,723		375,732
MIN AIK Technology Co., Ltd. (c)		130,000		225,591
Mirle Automation Corp.		489,854		523,453
Mitac Holdings Corp.		622,999		471,322
Motech Industries, Inc. (b) (c)		252,885		347,989
Nan Kang Rubber Tire Co., Ltd. (b)		689,204		606,387
Nantex Industry Co., Ltd.		444,778		329,044
Neo Solar Power Corp. (c)		429,436		317,694
Nien Hsing Textile Co., Ltd.		341,938		235,787
OBI Pharma, Inc. (b)		3,908		77,929
Oriental Union Chemical Corp. (c)		610,500		389,380
Pan-International Industrial Corp.		470,539		186,227
Parade Technologies, Ltd.		44,000		295,369
PChome Online, Inc.		48,742		488,206
Phison Electronics Corp.		84,837		600,499
Phytohealth Corp. (b)		206,511		175,095
Pixart Imaging, Inc.		88,060		213,937
Portwell, Inc.		183,000		233,437
Powertech Technology, Inc.		506,000		1,004,390
President Securities Corp.		1,121,850		455,953
Primax Electronics, Ltd. (c)		301,000		383,501
Prince Housing & Development Corp.		1,582,996		453,014
Promate Electronic Co., Ltd.		413,000		372,803
Qisda Corp.		1,262,641		420,919
Radiant Opto-Electronics Corp.		276,331		634,315
Radium Life Tech Co., Ltd. (b) (c)		802,810		288,403
Realtek Semiconductor Corp.		329,053		788,397
Richtek Technology Corp.		5,963		34,492
Ritek Corp. (b)		2,121,596		187,312
Sampo Corp.		1,108,527		401,604
Sanyang Motor Co., Ltd. (b) (c)		487,945		326,812
ScinoPharm Taiwan, Ltd.		216,553		354,691
Senao International Co., Ltd.		144,911		168,527
Sercomm Corp.		219,000		578,053
Shinkong Insurance Co., Ltd.		470,841		329,690
Shinkong Synthetic Fibers Corp.		1,917,796		559,335
Sigurd Microelectronics Corp. (c)		580,694		393,352
Silicon Integrated Systems Corp. (b) (c)		863,000		182,074
Silicon Motion Technology Corp. ADR (c)		24,418		765,748
Simplo Technology Co., Ltd.		170,129		543,841
Sinbon Electronics Co., Ltd.		349,872		654,006
Sinmag Equipment Corp.		61,726		195,437
Sino-American Silicon Products, Inc. (b)		384,058		546,616
Sinon Corp. (c)		884,662		350,127
Sinphar Pharmaceutical Co., Ltd.		324,346		281,915
Sinyi Realty, Inc.		567,940		473,759
Soft-World International Corp.		87,848		171,433
Solar Applied Materials Technology Co.		356,090		205,434
Solartech Energy Corp.		371,207		229,412
St Shine Optical Co., Ltd.		37,000		744,573
Standard Foods Corp.		457,592		1,143,736
Systex Corp. (c)		260,000		420,312
Ta Chong Bank, Ltd. (b)		1,598,315		652,036
Taichung Commercial Bank Co., Ltd.		2,268,632		646,464
Taiflex Scientific Co., Ltd.		275,725		318,980
Tainan Enterprises Co., Ltd.		308,000		276,147
Tainan Spinning Co., Ltd.		1,434,105		619,974
Taisun Enterprise Co., Ltd. (b)		702,549		257,732
Taiwan Acceptance Corp.		200,000		448,138
Taiwan Business Bank (b)		3,953,652		984,591

221

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Taiwan Cogeneration Corp.		502,469	$	354,131
Taiwan Fertilizer Co., Ltd.		230,000		301,443
Taiwan Hon Chuan Enterprise Co., Ltd. (c)		356,218		511,873
Taiwan Land Development Corp.		1,137,003		365,190
Taiwan Secom Co., Ltd.		308,961		917,091
Taiwan Surface Mounting Technology Corp.		341,308		302,893
Taiyen Biotech Co., Ltd.		341,979		312,338
Tatung Co., Ltd. (b) (c)		2,474,691		420,397
Test Rite International Co., Ltd.		441,896		281,171
Thye Ming Industrial Co., Ltd.		290,218		246,951
Ton Yi Industrial Corp. (c)		363,000		174,610
Tong Hsing Electronic Industries, Ltd.		87,327		203,915
Tong Yang Industry Co., Ltd.		390,872		481,941
Topco Scientific Co., Ltd.		272,965		452,075
Transcend Information, Inc.		182,484		476,113
Tripod Technology Corp.		418,353		713,239
TSRC Corp. (c)		505,028		310,578
TTY Biopharm Co., Ltd.		213,436		763,501
Tung Ho Steel Enterprise Corp.		770,258		398,648
Tung Thih Electronic Co., Ltd.		65,893		641,939
TXC Corp. (c)		410,120		447,615
U-Ming Marine Transport Corp. (c)		379,000		307,497
Unimicron Technology Corp. (c)		823,000		349,525
Unity Opto Technology Co., Ltd.		267,307		155,435
Unizyx Holding Corp. (c)		465,694		188,563
UPC Technology Corp.		743,914		214,928
USI Corp.		910,318		360,280
Visual Photonics Epitaxy Co., Ltd.		244,162		351,224
Wafer Works Corp. (b) (c)		401,872		156,604
Wah Hong Industrial Corp.		2,000		1,209
Walsin Lihwa Corp. (b)		2,618,000		585,019
Wan Hai Lines, Ltd.		940,320		522,448
Waterland Financial Holdings Co., Ltd. (c)		1,888,660		442,165
Wei Chuan Foods Corp. (b)		246,899		131,541
Weikeng Industrial Co., Ltd.		353,628		205,629
Winbond Electronics Corp. (b)		2,228,730		535,351
Wistron NeWeb Corp.		174,435		465,734
WUS Printed Circuit Co., Ltd.		369,000		297,137
Yageo Corp.		473,640		767,122
Yang Ming Marine Transport Corp. (b) (c)		1,354,788		358,423
YFY, Inc.		1,742,941		565,115
Yieh Phui Enterprise Co., Ltd.		1,021,924		230,537
Yungtay Engineering Co., Ltd.		349,000		504,157
Zenitron Corp.		463,348		222,879
Zinwell Corp. (c)		407,674		632,976
				86,312,908
THAILAND — 3.8%
Bangkok Land PCL NVDR		11,888,500		475,738
Central Plaza Hotel PCL NVDR (c)		365,100		446,419
Chularat Hospital PCL NVDR		2,632,400		194,586
Dynasty Ceramic PCL NVDR		2,752,620		321,273
Esso Thailand PCL NVDR (b)		790,200		109,796
GFPT PCL		238,000		65,477
Gunkul Engineering PCL NVDR		105,200		63,146
Hana Microelectronics PCL		1,179,960		1,172,254
Ichitan Group PCL NVDR (c)		1,188,800		406,343
Inter Far East Energy Corp. NVDR		294,400		53,178
International Engineering PCL (b)		72,436,434		60,389
Jasmine International PCL NVDR		4,583,700		412,705
Kiatnakin Bank PCL NVDR		400,500		403,449
LPN Development PCL NVDR		711,100		316,176
Major Cineplex Group PCL NVDR		193,700		189,744
MBK PCL NVDR		507,100		200,106
MK Restaurants Group PCL NVDR		554,700		894,056
Precious Shipping PCL (b)		482,800		74,463
Pruksa Real Estate PCL NVDR		164,300		120,993
PTG Energy PCL NVDR		153,700		55,526
Robinson Department Store PCL NVDR (c)		289,400		349,837
Siam Global House PCL NVDR		724,571		190,279
Sino-Thai Engineering & Construction PCL NVDR		674,800		468,806
Sri Trang Agro-Industry PCL NVDR		395,200		110,922
Srisawad Power 1979 PCL NVDR		237,900		315,679
Supalai PCL NVDR (c)		397,600		201,093
Superblock PCL NVDR (b)		3,843,500		124,966
Thai Airways International PCL NVDR (b)		699,500		178,836
Thai Vegetable Oil PCL NVDR		368,200		229,198
Thaicom PCL NVDR		549,800		443,079
Thanachart Capital PCL		1,206,942		1,224,215
Thoresen Thai Agencies PCL		2,857,106		615,328
Tipco Asphalt PCL NVDR		198,000		222,843
Tisco Financial Group PCL		254,003		299,990
TPI Polene PCL		851,400		49,686
TTW PCL (c)		1,346,900		396,752
U City PCL (b) (e)		121,776,778		101,523
VGI Global Media PCL NVDR		3,132,212		322,056
WHA Corp. PCL NVDR (b) (c)		4,531,430		360,147
				12,241,052
TURKEY — 1.7%
Afyon Cimento Sanayi TAS (b)		51,701		108,757
Akfen Holding A/S		79,153		338,973
Albaraka Turk Katilim Bankasi A/S		1,336,785		604,538
Aygaz A/S (c)		99,357		343,802
Dogan Sirketler Grubu Holding A/S (b)		813,392		158,841
GSD Holding A/S		397,123		141,497
Ihlas Holding A/S (b)		3		—
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D (c)		1,187,091		443,301
Koza Altin Isletmeleri A/S (c)		69,131		290,843
NET Holding A/S (b)		228,086		272,717
Pegasus Hava Tasimaciligi A/S (b)		33,476		201,394
Petkim Petrokimya Holding A/S (b)		824,352		1,296,324
Sekerbank TAS (b)		895,736		515,558
Sinpas Gayrimenkul Yatirim Ortakligi A/S		3		1
Tekfen Holding A/S (c)		120,263		166,457
Torunlar Gayrimenkul Yatirim Ortakligi A/S		163,596		182,156
Turkiye Sinai Kalkinma Bankasi A/S		824,995		429,619
Yazicilar Holding A/S Class A		21,673		94,671
				5,589,449
UNITED ARAB EMIRATES — 0.7%
Air Arabia PJSC		1,595,684		590,833
Al Waha Capital PJSC		965,809		567,969

222

SPDR S&P Emerging Markets Small Cap ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Dana Gas PJSC (b)		2,645,476	$	367,327
Eshraq Properties Co. PJSC (b)		1,497,456		224,231
National Central Cooling Co. PJSC		587,884		192,067
RAK Properties PJSC		2,406,264		360,317
				2,302,744
TOTAL COMMON STOCKS (Cost $458,087,664)				322,743,654
RIGHTS — 0.0% (a)
BRAZIL — 0.0% (a)
Rumo Logistica Operadora Multimodal SA (expiring 2/1/16) (b)		51,588		1,956
SOUTH AFRICA — 0.0% (a)
ArcelorMittal South Africa, Ltd. (expiring 1/15/16) (b) (c)		376,519		243
TOTAL RIGHTS (Cost $0)				2,199
WARRANT — 0.0% (a)
MALAYSIA — 0.0% (a)
WCT Holdings Bhd (expiring 8/27/20) (b) (Cost $0)		268,650		11,889
SHORT-TERM INVESTMENT — 8.9%
UNITED STATES — 8.9%
State Street Navigator Securities Lending Prime Portfolio (g) (h) (Cost $28,780,339)		28,780,339		28,780,339
TOTAL INVESTMENTS — 109.1% (Cost $486,868,003)				351,538,081
LIABILITIES IN EXCESS OF OTHER ASSETS — (9.1)%				(29,410,789	)
NET ASSETS — 100.0%			$	322,127,292

(a) Amount shown represents less than 0.05% of net assets.

(b) Non-income producing security

(c) All or a portion of the shares of the security are on loan at December 31, 2015.

(d) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.6% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs (see accompanying Notes to Schedules of Investments).

(f) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (see accompanying Notes to Schedules of Investments).

(g) Investment of cash collateral for securities loaned

(h) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

ADR = American Depositary Receipt

ADS = American Depositary Shares

GDR = Global Depositary Receipt

NVDR = Non Voting Depositary Receipt

REIC = Real Estate Investment Company

REIT = Real Estate Investment Trust

223

SPDR Dow Jones Global Real Estate ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 5.2%
Astro Japan Property Group		124,964	$	460,043
BGP Holdings PLC (a) (b)		1,313,937		—
BWP Trust (d)		985,575		2,265,894
Charter Hall Retail REIT (d)		658,871		1,998,938
Dexus Property Group REIT		1,921,140		10,482,940
Gateway Lifestyle		465,480		1,026,140
Goodman Group REIT (d)		3,153,906		14,387,294
GPT Group REIT		3,588,011		12,477,986
Investa Office Fund		1,233,138		3,588,678
Scentre Group REIT		10,666,229		32,515,300
Westfield Corp.		3,829,159		26,493,953
				105,697,166
AUSTRIA — 0.5%
BUWOG AG (a)		103,647		2,252,398
CA Immobilien Anlagen AG (a)		146,676		2,681,594
IMMOFINANZ AG (a) (d)		1,798,654		4,105,097
				9,039,089
BELGIUM — 0.3%
Befimmo SA		40,120		2,397,029
Cofinimmo SA		40,624		4,342,819
				6,739,848
BRAZIL — 0.1%
BR Malls Participacoes SA		918,026		2,575,694
CANADA — 3.9%
Artis Real Estate Investment Trust		135,690		1,250,329
Boardwalk Real Estate Investment Trust		46,712		1,595,626
Brookfield Asset Management, Inc. Class A		1,729,938		54,360,229
Canadian Apartment Properties REIT		128,295		2,478,898
Canadian Real Estate Investment Trust		72,736		2,202,344
Crombie Real Estate Investment Trust		76,202		702,171
Dream Office Real Estate Investment Trust		104,187		1,302,806
First Capital Realty, Inc. (d)		225,105		2,973,635
H&R Real Estate Investment Trust		275,302		3,973,656
RioCan Real Estate Investment Trust		315,952		5,388,311
Smart Real Estate Investment Trust		122,398		2,660,137
				78,888,142
FRANCE — 4.2%
Fonciere Des Regions		86,986		7,795,664
Gecina SA		71,854		8,749,965
Klepierre		377,647		16,815,653
Mercialys SA (d)		36,895		746,873
Unibail-Rodamco SE		196,434		50,017,739
				84,125,894
HONG KONG — 3.4%
Champion REIT (d)		4,386,462		2,196,018
Hang Lung Properties, Ltd.		4,229,018		9,625,604
Hongkong Land Holdings, Ltd.		2,355,700		16,489,900
Hysan Development Co., Ltd.		1,249,731		5,119,767
Link REIT		4,511,682		27,011,354
Prosperity REIT		2,277,000		819,704
Wheelock & Co., Ltd.		1,625,016		6,845,903
				68,108,250
ITALY — 0.1%
Beni Stabili SpA SIIQ		2,137,524		1,621,912
Immobiliare Grande Distribuzione SIIQ SpA		608,457		585,947
				2,207,859
JAPAN — 8.6%
Activia Properties, Inc.		1,095		4,669,645
Aeon Mall Co., Ltd.		236,000		4,088,482
Daibiru Corp.		120,800		1,007,211
Daiwa Office Investment Corp.		647		3,517,503
Frontier Real Estate Investment Corp.		989		3,983,295
Fukuoka REIT Corp.		1,390		2,409,202
Global One Real Estate Investment Corp.		366		1,317,411
Hankyu REIT, Inc.		1,225		1,303,462
Heiwa Real Estate Co., Ltd.		76,600		847,538
Hoshino Resorts REIT, Inc.		152		1,587,032
Hulic Co., Ltd.		900,800		8,004,948
Hulic REIT, Inc.		1,376		1,927,395
Japan Excellent, Inc.		2,532		2,795,208
Japan Prime Realty Investment Corp.		1,765		6,059,645
Japan Real Estate Investment Corp.		2,619		12,779,858
Japan Rental Housing Investments, Inc.		3,293		2,337,771
Japan Retail Fund Investment Corp.		5,105		9,853,951
Kenedix Office Investment Corp.		814		3,823,185
Kenedix Residential Investment Corp. (d)		721		1,786,093
MCUBS MidCity Investment Corp.		531		1,631,028
Mitsui Fudosan Co., Ltd.		1,987,000		50,478,174
Mori Hills REIT Investment Corp.		2,488		3,205,786
Mori Trust Sogo REIT, Inc.		2,055		3,524,224
Nippon Building Fund, Inc.		2,827		13,559,824
NTT Urban Development Corp.		223,400		2,172,809
Orix JREIT, Inc.		4,545		5,909,123
Premier Investment Corp.		2,223		2,278,531
Tokyu Fudosan Holdings Corp.		1,036,300		6,564,368
Tokyu REIT, Inc.		1,873		2,374,434
Top REIT, Inc.		363		1,379,035
United Urban Investment Corp. (d)		5,499		7,496,870
				174,673,041
NETHERLANDS — 0.6%
Atrium European Real Estate, Ltd. (a)		338,830		1,314,014
Eurocommercial Properties NV		95,958		4,148,198
Vastned Retail NV		38,792		1,784,618
Wereldhave NV		80,367		4,513,548
				11,760,378
NEW ZEALAND — 0.4%
Argosy Property, Ltd.		1,663,812		1,304,207
Goodman Property Trust		2,078,238		1,764,224
Kiwi Property Group, Ltd.		2,603,553		2,406,230
Precinct Properties New Zealand, Ltd.		2,065,436		1,767,497
				7,242,158
PHILIPPINES — 1.0%
Ayala Land, Inc.		11,757,000		8,607,558
Robinsons Land Corp.		1,760,200		1,028,701

224

SPDR Dow Jones Global Real Estate ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SM Prime Holdings, Inc.		23,113,100	$	10,658,894
				20,295,153
SINGAPORE — 2.6%
Ascendas Real Estate Investment Trust (c)		4,137,869		6,650,225
Cambridge Industrial Trust		2,042,471		813,447
CapitaLand Commercial Trust, Ltd. (d)		4,024,382		3,829,638
CapitaLand Mall Trust		5,253,560		7,147,197
CapitaLand, Ltd.		5,015,200		11,842,893
Frasers Commercial Trust		1,180,756		1,057,033
Global Logistic Properties, Ltd.		6,066,300		9,193,631
GuocoLand, Ltd.		526,499		669,884
Keppel REIT (d)		3,505,700		2,298,172
Mapletree Logistics Trust		3,020,973		2,108,176
Starhill Global REIT		2,848,524		1,515,973
Suntec Real Estate Investment Trust (d)		5,076,774		5,546,822
United Industrial Corp., Ltd.		405,505		823,215
				53,496,306
SOUTH AFRICA — 0.5%
Growthpoint Properties, Ltd.		4,388,399		6,578,846
Hyprop Investments, Ltd.		419,651		2,798,937
SA Corporate Real Estate Fund Nominees Pty, Ltd.		3,449,667		1,024,070
				10,401,853
SPAIN — 0.0% (e)
Martinsa Fadesa SA (a) (b)		178		—
SWEDEN — 0.6%
Castellum AB		343,350		4,915,705
Fabege AB		282,412		4,693,133
Kungsleden AB		310,902		2,231,107
				11,839,945
SWITZERLAND — 0.9%
PSP Swiss Property AG (a)		80,681		7,092,835
Swiss Prime Site AG (a)		139,360		10,928,831
				18,021,666
THAILAND — 0.2%
Central Pattana PCL		2,683,200		3,504,527
UNITED KINGDOM — 6.4%
Big Yellow Group PLC		295,802		3,514,020
British Land Co. PLC		2,049,448		23,742,559
Capital & Counties Properties PLC		1,486,925		9,656,097
Derwent London PLC		221,776		12,002,875
Grainger PLC		850,788		2,919,258
Great Portland Estates PLC		687,840		8,394,326
Hammerson PLC		1,569,919		13,883,423
Intu Properties PLC		1,633,287		7,638,369
Land Securities Group PLC		1,604,600		27,836,288
Segro PLC		1,484,313		9,394,109
Shaftesbury PLC		555,501		7,487,497
Workspace Group PLC		239,811		3,387,890
				129,856,711
UNITED STATES — 60.0%
Acadia Realty Trust		139,884		4,637,155
Alexandria Real Estate Equities, Inc.		145,132		13,114,128
American Campus Communities, Inc.		224,708		9,289,429
American Homes 4 Rent Class A		311,555		5,190,506
Apartment Investment & Management Co. Class A		313,062		12,531,872
Apple Hospitality REIT, Inc. (d)		311,985		6,230,340
Ashford Hospitality Prime, Inc.		53,312		773,024
Ashford Hospitality Trust, Inc.		159,745		1,007,991
AvalonBay Communities, Inc. REIT		274,235		50,494,891
BioMed Realty Trust, Inc.		404,084		9,572,750
Boston Properties, Inc. REIT		307,663		39,239,339
Brandywine Realty Trust		349,640		4,776,082
Brixmor Property Group, Inc.		340,268		8,785,720
Camden Property Trust		173,813		13,341,886
Care Capital Properties, Inc.		166,674		5,095,224
CBL & Associates Properties, Inc.		302,657		3,743,867
Cedar Realty Trust, Inc. (d)		154,656		1,094,964
Columbia Property Trust, Inc.		248,448		5,833,559
Corporate Office Properties Trust		191,418		4,178,655
Cousins Properties, Inc.		406,716		3,835,332
CubeSmart		345,184		10,569,534
DCT Industrial Trust, Inc.		178,600		6,674,282
DDR Corp.		608,577		10,248,437
DiamondRock Hospitality Co.		405,309		3,911,232
Digital Realty Trust, Inc. (d)		293,125		22,166,112
Douglas Emmett, Inc.		278,849		8,694,512
Duke Realty Corp.		691,164		14,528,267
DuPont Fabros Technology, Inc.		132,411		4,209,346
EastGroup Properties, Inc.		65,196		3,625,550
Education Realty Trust, Inc.		112,058		4,244,757
Equity Commonwealth (a)		254,331		7,052,599
Equity LifeStyle Properties, Inc.		160,231		10,682,601
Equity One, Inc.		148,064		4,019,938
Equity Residential REIT		729,935		59,555,397
Essex Property Trust, Inc. REIT		132,310		31,676,337
Extra Space Storage, Inc.		247,221		21,807,364
Federal Realty Investment Trust		139,067		20,317,689
FelCor Lodging Trust, Inc.		265,283		1,936,566
First Industrial Realty Trust, Inc.		221,124		4,893,474
First Potomac Realty Trust		119,749		1,365,139
Forest City Enterprises, Inc. Class A (a)		433,736		9,511,830
Franklin Street Properties Corp.		176,955		1,831,484
General Growth Properties, Inc. REIT		1,166,449		31,739,077
HCP, Inc. REIT		931,653		35,626,411
Healthcare Realty Trust, Inc.		201,067		5,694,217
Hersha Hospitality Trust		91,409		1,989,060
Highwoods Properties, Inc.		191,314		8,341,290
Hospitality Properties Trust		303,062		7,925,071
Host Hotels & Resorts, Inc. REIT		1,505,447		23,093,557
Inland Real Estate Corp.		185,827		1,973,483
Kilroy Realty Corp.		184,426		11,670,477
Kimco Realty Corp. REIT		827,713		21,901,286
Kite Realty Group Trust		167,870		4,352,869
LaSalle Hotel Properties		225,607		5,676,272
Liberty Property Trust		297,451		9,235,854
LTC Properties, Inc.		71,681		3,092,318
Macerich Co. REIT		269,501		21,746,036
Mack-Cali Realty Corp.		178,153		4,159,873
Mid-America Apartment Communities, Inc.		150,871		13,700,595
Monogram Residential Trust, Inc.		331,979		3,240,115
National Storage Affiliates Trust (d)		46,169		790,875
New York REIT, Inc.		330,640		3,802,360
NexPoint Residential Trust, Inc. (d)		42,940		562,085

225

SPDR Dow Jones Global Real Estate ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Parkway Properties, Inc.		164,892	$	2,577,262
Pebblebrook Hotel Trust (d)		144,915		4,060,518
Pennsylvania Real Estate Investment Trust		141,226		3,088,613
Piedmont Office Realty Trust, Inc. Class A		292,917		5,530,273
Post Properties, Inc.		108,190		6,400,520
Prologis, Inc. REIT		1,050,547		45,089,477
PS Business Parks, Inc.		39,588		3,461,179
Public Storage REIT		294,920		73,051,684
Ramco-Gershenson Properties Trust		161,786		2,687,265
Regency Centers Corp.		188,459		12,837,827
Retail Opportunity Investments Corp.		198,104		3,546,062
Rexford Industrial Realty, Inc. (d)		109,442		1,790,471
RLJ Lodging Trust		253,075		5,474,012
Rouse Properties, Inc. (d)		75,877		1,104,769
Saul Centers, Inc.		23,196		1,189,259
Senior Housing Properties Trust		474,679		7,044,236
Silver Bay Realty Trust Corp.		72,992		1,143,055
Simon Property Group, Inc. REIT		620,087		120,569,716
SL Green Realty Corp. REIT		199,730		22,565,495
Sovran Self Storage, Inc.		72,330		7,761,732
Sun Communities, Inc.		115,547		7,918,436
Sunstone Hotel Investors, Inc.		416,659		5,204,071
Tanger Factory Outlet Centers, Inc.		189,351		6,191,778
Taubman Centers, Inc.		121,207		9,299,001
Tier REIT, Inc. (d)		93,847		1,384,243
UDR, Inc.		524,731		19,714,144
Universal Health Realty Income Trust		24,790		1,239,748
Urban Edge Properties		184,236		4,320,334
Ventas, Inc. REIT		667,127		37,645,977
Vornado Realty Trust REIT		355,108		35,496,596
Washington Real Estate Investment Trust (d)		137,216		3,713,065
Weingarten Realty Investors		228,023		7,885,035
Welltower, Inc. REIT		709,077		48,238,508
WP Glimcher, Inc.		375,503		3,984,087
Xenia Hotels & Resorts, Inc.		227,507		3,487,682
				1,213,298,472
TOTAL COMMON STOCKS (Cost $1,872,148,228)				2,011,772,152
RIGHTS — 0.0% (e)
SINGAPORE — 0.0% (e)
Ascendas Real Estate Investment Trust (expiring 1/13/16) (a) (Cost $0)		155,170		6,781
SHORT-TERM INVESTMENTS — 1.6%
UNITED STATES — 1.6%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g)		3,427,588		3,427,588
State Street Navigator Securities Lending Prime Portfolio (g) (h)		27,504,155		27,504,155
TOTAL SHORT-TERM INVESTMENTS (Cost $30,931,743)				30,931,743
TOTAL INVESTMENTS — 101.1% (Cost $1,903,079,971)				2,042,710,676
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.1)%				(21,333,008	)
NET ASSETS — 100.0%			$	2,021,377,668

(a) Non-income producing security

(b) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (see accompanying Notes to Schedules of Investments).

(c) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs (see accompanying Notes to Schedules of Investments).

(d) All or a portion of the shares of the security are on loan at December 31, 2015.

(e) Amount shown represents less than 0.05% of net assets.

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

(g) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(h) Investment of cash collateral for securities loaned

REIT = Real Estate Investment Trust

226

SPDR S&P International Consumer Discretionary Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 2.1%
Aristocrat Leisure, Ltd.		10,441	$	77,559
Automotive Holdings Group, Ltd.		12,725		41,846
Crown Resorts, Ltd. (a)		7,531		68,490
Fairfax Media, Ltd.		44,009		29,457
Tatts Group, Ltd.		27,669		88,373
				305,725
BELGIUM — 0.2%
D’ieteren SA		920		34,394
CANADA — 3.1%
Amaya, Inc. (a) (b)		774		9,712
Canadian Tire Corp., Ltd. Class A (a)		1,262		107,349
Gildan Activewear, Inc.		3,063		86,746
Magna International, Inc.		3,938		159,096
Restaurant Brands International, Inc. (a)		745		27,754
Shaw Communications, Inc. Class B (a)		4,179		71,600
				462,257
DENMARK — 0.6%
Pandora A/S		733		93,041
FINLAND — 0.4%
Nokian Renkaat Oyj		1,120		40,271
Sanoma Oyj (a)		2,849		12,101
				52,372
FRANCE — 10.4%
Accor SA		1,688		73,356
Christian Dior SE		379		64,535
Cie Generale des Etablissements Michelin		1,669		159,366
Havas SA		6,865		57,847
Hermes International		200		67,731
Kering		706		121,136
Lagardere SCA		1,302		38,909
LVMH Moet Hennessy Louis Vuitton SE		1,844		290,255
Numericable-SFR SAS		1,100		40,030
Peugeot SA (b)		1,152		20,279
Publicis Groupe SA		1,078		71,878
Renault SA		1,581		159,087
Sodexo SA		1,176		115,153
Valeo SA		602		93,221
Vivendi SA		8,065		173,994
				1,546,777
GERMANY — 10.9%
adidas AG		1,850		180,688
Bayerische Motoren Werke AG		2,052		217,626
Bayerische Motoren Werke AG Preference Shares		347		29,180
Continental AG		680		165,872
Daimler AG		6,714		565,823
HUGO BOSS AG		222		18,473
Kabel Deutschland Holding AG		302		37,448
Leoni AG		210		8,314
Porsche Automobil Holding SE Preference Shares		777		42,211
ProSiebenSat.1 Media SE		1,159		58,878
TUI AG		6,423		114,644
Volkswagen AG		190		29,370
Volkswagen AG Preference Shares		1,032		149,942
				1,618,469
HONG KONG — 3.1%
Esprit Holdings, Ltd. (a)		23,082		25,494
Fairwood Holdings, Ltd.		16,000		50,373
Galaxy Entertainment Group, Ltd.		16,000		50,476
Giordano International, Ltd.		80,000		37,470
Global Brands Group Holding, Ltd. (b)		62,000		11,760
Li & Fung, Ltd. (a)		62,000		42,159
Pico Far East Holdings, Ltd.		108,000		29,264
Sands China, Ltd.		24,000		82,218
Shangri-La Asia, Ltd.		16,500		16,116
SJM Holdings, Ltd. (a)		24,000		17,125
Techtronic Industries Co., Ltd.		15,500		63,199
Yuxing InfoTech Investment Holdings, Ltd.		92,000		30,864
				456,518
IRELAND — 0.2%
Paddy Power PLC		266		35,570
ITALY — 0.3%
Luxottica Group SpA		150		9,842
Mediaset SpA		8,217		34,205
				44,047
JAPAN — 35.6%
Aisin Seiki Co., Ltd. (a)		2,300		100,187
Aoyama Trading Co., Ltd. (a)		1,400		54,524
Asics Corp.		800		16,785
Bandai Namco Holdings, Inc.		3,900		83,126
Benesse Holdings, Inc.		1,600		46,419
Bookoff Corp.		1,500		11,409
Bridgestone Corp. (a)		6,300		218,598
Can Do Co., Ltd. (a)		800		10,501
Casio Computer Co., Ltd. (a)		3,900		92,301
Denso Corp.		3,100		149,930
Dentsu, Inc. (a)		2,800		155,484
Fast Retailing Co., Ltd.		488		172,977
Fuji Corp., Ltd.		3,100		19,946
Fuji Heavy Industries, Ltd.		4,300		179,692
GLOBERIDE, Inc.		800		10,614
Gunze, Ltd.		15,000		44,266
Haseko Corp.		2,400		26,894
Honda Motor Co., Ltd.		10,800		351,037
Isetan Mitsukoshi Holdings, Ltd.		5,100		67,240
Isuzu Motors, Ltd.		4,200		45,877
Kappa Create Co., Ltd. (a) (b)		800		8,020
Koito Manufacturing Co., Ltd.		800		33,318
Kojima Co., Ltd. (a) (b)		10,200		23,572
Konaka Co., Ltd.		5,800		32,931
Kyoritsu Maintenance Co., Ltd. (a)		400		34,648
Kyoto Kimono Yuzen Co., Ltd. (a)		3,400		25,720
Mazda Motor Corp.		3,500		73,436
Mitsubishi Motors Corp. (a)		3,100		26,543
NGK Spark Plug Co., Ltd.		1,100		29,399
Nikon Corp. (a)		3,900		52,683
Nissan Motor Co., Ltd.		15,300		162,736
Oriental Land Co., Ltd.		2,300		140,281
Otsuka Kagu, Ltd. (a)		2,100		26,779
Panasonic Corp.		13,600		140,245
Pioneer Corp. (a) (b)		3,200		8,911
Rakuten, Inc. (a) (b)		6,300		73,477
Resorttrust, Inc. (a)		3,000		79,929
Ringer Hut Co., Ltd.		1,100		25,540

227

SPDR S&P International Consumer Discretionary Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Ryohin Keikaku Co., Ltd.		200	$	40,966
Sanrio Co., Ltd. (a)		300		7,108
Sanyo Housing Nagoya Co., Ltd. (a)		1,700		17,001
Sega Sammy Holdings, Inc.		700		6,605
Sekisui Chemical Co., Ltd.		8,000		105,807
Sekisui House, Ltd.		8,000		136,099
Sharp Corp. (a) (b)		8,000		8,313
Shimano, Inc.		1,300		201,654
Sony Corp.		7,100		177,183
Stanley Electric Co., Ltd. (a)		2,400		53,309
Suminoe Textile Co., Ltd.		7,000		20,192
Sumitomo Electric Industries, Ltd.		5,000		71,657
Sumitomo Forestry Co., Ltd.		6,800		92,875
Suzuki Motor Corp.		3,500		107,739
Toho Co., Ltd.		1,000		27,931
Toyota Industries Corp.		1,900		103,138
Toyota Motor Corp.		18,800		1,170,243
Yamada Denki Co., Ltd. (a)		10,000		43,477
Yamaha Motor Co., Ltd.		1,600		36,497
				5,283,769
LUXEMBOURG — 0.5%
SES SA		2,849		79,151
MACAU — 0.1%
Wynn Macau, Ltd. (a)		15,600		18,237
NETHERLANDS — 1.2%
Altice NV Class A (b)		1,500		21,590
Altice NV Class B (b)		500		7,278
Wolters Kluwer NV		4,556		153,252
				182,120
NORWAY — 0.5%
Schibsted ASA Class A		1,040		34,332
Schibsted ASA Class B (b)		1,040		33,146
				67,478
SINGAPORE — 0.6%
Genting Singapore PLC (a)		47,900		25,999
Singapore Press Holdings, Ltd. (a)		24,000		66,655
				92,654
SOUTH KOREA — 4.6%
Cheil Worldwide, Inc. (b)		1,044		18,431
Coway Co., Ltd.		386		27,685
Credu Corp.		373		16,542
Fila Korea, Ltd.		101		8,131
Hanil E-Hwa Co., Ltd.		518		6,693
Hankook Tire Co., Ltd.		882		35,391
Hanon Systems		230		10,180
Hanssem Co., Ltd.		170		33,564
HLB, Inc. (b)		1,000		18,421
Hotel Shilla Co., Ltd.		249		16,415
Hyundai Department Store Co., Ltd.		147		15,859
Hyundai Engineering Plastics Co., Ltd.		2,315		21,718
Hyundai Mobis Co., Ltd.		472		99,227
Hyundai Motor Co.		1,059		134,571
Hyundai Wia Corp.		151		14,423
Kangwon Land, Inc.		711		23,285
Kia Motors Corp.		1,921		86,175
LG Electronics, Inc.		747		34,275
Lotte Shopping Co., Ltd.		103		20,423
Seoul Auction Co., Ltd.		1,800		33,312
Seoyon Co., Ltd.		842		9,120
				683,841
SPAIN — 2.0%
Industria de Diseno Textil SA		7,758		267,068
NH Hotel Group SA (b)		4,159		22,770
				289,838
SWEDEN — 2.2%
Electrolux AB Series B		3,868		94,147
Hennes & Mauritz AB Class B		6,688		239,656
				333,803
SWITZERLAND — 2.7%
Cie Financiere Richemont SA		3,663		263,839
Dufry AG (b)		174		20,859
Swatch Group AG		347		121,398
				406,096
UNITED KINGDOM — 16.1%
Burberry Group PLC		4,207		74,098
Compass Group PLC		15,187		263,014
Fiat Chrysler Automobiles NV (b)		7,734		108,547
GKN PLC		14,630		66,501
Home Retail Group PLC		11,676		17,132
Informa PLC		8,067		72,885
ITV PLC		34,431		140,369
Kingfisher PLC		28,259		137,240
Marks & Spencer Group PLC		15,156		101,059
Next PLC		2,159		231,979
Ocado Group PLC (a) (b)		2,693		12,070
Pearson PLC		9,014		97,783
RELX NV		12,554		211,925
RELX PLC		11,059		195,109
Sky PLC		10,578		173,371
Sports Direct International PLC (b)		1,582		13,454
Thomas Cook Group PLC (b)		6,977		12,453
WH Smith PLC		740		19,294
Whitbread PLC		2,909		188,696
WPP PLC		11,011		253,661
				2,390,640
UNITED STATES — 2.1%
Carnival PLC		2,117		120,629
International Game Technology PLC		2,100		33,978
Thomson Reuters Corp.		4,180		157,709
				312,316
TOTAL COMMON STOCKS (Cost $15,680,328)				14,789,113
WARRANTS — 0.1%
FRANCE — 0.1%
Peugeot SA (expiring 4/29/17) (b) (Cost $7,744)		3,417		12,769

228

SPDR S&P International Consumer Discretionary Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SHORT-TERM INVESTMENTS — 7.5%
UNITED STATES — 7.5%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (c) (d)		15,219	$	15,219
State Street Navigator Securities Lending Prime Portfolio (c) (e)		1,100,387		1,100,387
TOTAL SHORT-TERM INVESTMENTS (Cost $1,115,606)				1,115,606
TOTAL INVESTMENTS — 107.1% (Cost $16,803,678)				15,917,488
LIABILITIES IN EXCESS OF OTHER ASSETS — (7.1)%				(1,061,641	)
NET ASSETS — 100.0%			$	14,855,847

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

(e) Investment of cash collateral for securities loaned

229

SPDR S&P International Consumer Staples Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 4.2%
Bellamy’s Australia, Ltd.		993	$	9,833
Blackmores, Ltd.		170		26,961
Coca-Cola Amatil, Ltd.		12,527		84,760
Metcash, Ltd.		5,426		6,375
Treasury Wine Estates, Ltd.		17,305		104,499
Wesfarmers, Ltd.		23,639		715,632
Woolworths, Ltd. (a)		24,525		437,157
				1,385,217
BELGIUM — 6.4%
Anheuser-Busch InBev SA (b) (c) (d)		2,040		—
Anheuser-Busch InBev SA (c)		15,394		1,913,055
Delhaize Group		2,257		220,145
				2,133,200
CANADA — 3.0%
AGT Food & Ingredients, Inc.		542		13,262
Alimentation Couche-Tard, Inc. Class B		7,307		320,401
Clearwater Seafoods, Inc.		631		5,447
Corby Spirit and Wine, Ltd.		1,590		21,576
Cott Corp.		2,349		25,771
Empire Co., Ltd.		1,806		33,465
George Weston, Ltd.		88		6,775
High Liner Foods, Inc. (a)		257		2,877
Jean Coutu Group PJC, Inc. Class A		522		6,730
KP Tissue, Inc. (a)		1,429		11,985
Liquor Stores N.A., Ltd. (a)		1,406		8,472
Loblaw Cos., Ltd.		6,369		299,583
Maple Leaf Foods, Inc. (a)		362		6,192
Metro, Inc.		3,178		88,630
North West Co., Inc.		720		14,860
Premium Brands Holdings Corp.		631		17,348
Rogers Sugar, Inc.		3,158		9,639
Saputo, Inc.		3,021		71,986
SunOpta, Inc. (b)		2,598		17,770
				982,769
DENMARK — 0.8%
Carlsberg A/S Class B		2,759		245,988
Royal Unibrew A/S		285		11,620
United International Enterprises		49		7,518
				265,126
FAEROE ISLANDS — 0.0% (e)
Bakkafrost P/F		516		15,262
FINLAND — 0.3%
Kesko Oyj Class B		2,382		83,760
FRANCE — 7.7%
Carrefour SA		12,022		348,035
Casino Guichard Perrachon SA (a)		1,339		61,695
Danone SA		12,658		856,374
L’Oreal SA		4,580		772,657
Pernod Ricard SA		4,329		494,713
				2,533,474
GERMANY — 2.6%
Beiersdorf AG		2,477		226,455
Henkel AG & Co. KGaA		152		14,633
Henkel AG & Co. KGaA Preference Shares		5,185		581,270
METRO AG		598		19,202
Suedzucker AG		271		5,399
				846,959
HONG KONG — 0.4%
Vitasoy International Holdings, Ltd.		56,000		114,888
IRELAND — 1.2%
C&C Group PLC		4,290		17,303
Fyffes PLC		6,771		11,107
Glanbia PLC		1,992		36,678
Greencore Group PLC		11,560		60,367
Kerry Group PLC Class A		2,868		237,745
Origin Enterprises PLC		1,138		9,333
Total Produce PLC		17,185		27,442
				399,975
JAPAN — 18.5%
Aeon Co., Ltd.		17,505		271,826
Ain Holdings, Inc.		800		38,572
Ajinomoto Co., Inc.		13,728		328,607
Ariake Japan Co., Ltd.		500		27,890
Asahi Group Holdings, Ltd.		11,182		353,135
Axial Retailing, Inc.		600		20,300
Calbee, Inc.		1,700		72,638
Coca-Cola East Japan Co., Ltd.		900		14,612
Coca-Cola West Co., Ltd. (a)		800		16,340
Cocokara fine, Inc. (a)		700		31,772
Cosmos Pharmaceutical Corp.		100		15,878
euglena Co., Ltd. (a) (b)		1,600		24,141
Ezaki Glico Co., Ltd.		1,600		87,119
FamilyMart Co., Ltd. (a)		1,500		70,327
Fuji Oil Holdings, Inc.		1,600		26,229
Fujicco Co., Ltd.		1,600		28,091
Genky Stores, Inc.		200		6,401
Hokuto Corp. (a)		1,500		29,054
Ito En, Ltd. (a)		500		12,968
Japan Tobacco, Inc. (a)		20,578		764,822
Kao Corp.		10,608		551,586
Kenko Mayonnaise Co., Ltd.		800		15,927
Kewpie Corp.		3,100		77,310
Key Coffee, Inc. (a)		3,100		49,736
Kikkoman Corp. (a)		4,000		140,488
Kirin Holdings Co., Ltd. (a)		15,675		214,677
Kobe Bussan Co., Ltd.		400		12,852
Kose Corp. (a)		700		65,580
Kotobuki Spirits Co., Ltd.		300		12,419
Kusuri No Aoki Co., Ltd.		400		19,685
Lawson, Inc.		2,324		190,294
Life Corp. (a)		800		19,951
Lion Corp.		10,000		95,100
Matsumotokiyoshi Holdings Co., Ltd.		1,100		56,694
Megmilk Snow Brand Co., Ltd. (a)		700		18,155
MEIJI Holdings Co., Ltd.		3,000		250,634
Ministop Co., Ltd. (a)		400		7,787
Morinaga & Co., Ltd. (a)		7,000		37,242
NH Foods, Ltd.		3,000		59,304
Nichirei Corp. (a)		9,388		70,081
Nippon Suisan Kaisha, Ltd.		4,100		23,142
Nisshin Seifun Group, Inc.		1,600		26,428
Nissin Foods Holdings Co., Ltd.		1,500		80,178
Oenon Holdings, Inc.		31,351		58,378

230

SPDR S&P International Consumer Staples Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Pigeon Corp. (a)		1,500	$	36,972
Qol Co., Ltd.		800		11,412
S Foods, Inc.		400		7,046
San-A Co., Ltd.		300		13,592
Seven & i Holdings Co., Ltd.		15,775		727,805
Shiseido Co., Ltd. (a)		8,493		178,551
Sugi Holdings Co., Ltd.		200		11,139
Sundrug Co., Ltd.		300		19,502
Suntory Beverage & Food, Ltd.		1,100		48,647
Takara Holdings, Inc.		1,400		10,754
Toyo Suisan Kaisha, Ltd. (a)		1,400		49,229
Tsuruha Holdings, Inc.		700		61,158
Unicharm Corp. (a)		9,300		191,497
UNY Group Holdings Co., Ltd. (a)		12,600		79,918
Valor Holdings Co., Ltd. (a)		800		18,987
Warabeya Nichiyo Co., Ltd.		300		5,726
Welcia Holdings Co., Ltd.		500		27,931
Yakult Honsha Co., Ltd. (a)		2,280		112,962
Yamazaki Baking Co., Ltd. (a)		4,000		90,943
Yaoko Co., Ltd.		400		16,958
				6,115,079
NETHERLANDS — 2.4%
Heineken NV		4,718		403,709
Koninklijke Ahold NV		18,990		401,747
				805,456
NEW ZEALAND — 0.0% (e)
Scales Corp., Ltd.		5,908		9,950
NORWAY — 0.5%
Marine Harvest ASA (b)		9,560		129,175
Orkla ASA		4,548		36,019
Salmar ASA		186		3,257
				168,451
PORTUGAL — 0.1%
Jeronimo Martins SGPS SA		2,757		35,924
Sonae SGPS SA		8,680		9,882
				45,806
SINGAPORE — 0.6%
Golden Agri-Resources, Ltd. (a)		207,975		49,844
Wilmar International, Ltd. (a)		64,000		132,633
				182,477
SOUTH KOREA — 3.9%
Able C&C Co., Ltd.		311		6,206
Amorepacific Corp.		492		173,923
Amorepacific Group		449		56,673
BGF retail Co., Ltd.		163		23,841
Binggrae Co., Ltd.		166		9,698
CJ CheilJedang Corp.		119		38,312
CJ Freshway Corp.		118		8,363
Coreana Cosmetics Co., Ltd. (b)		433		4,007
Cosmax BTI, Inc.		62		3,633
Cosmax, Inc.		99		15,535
Crown Confectionery Co., Ltd.		41		18,952
Dae Han Flour Mills Co., Ltd.		146		22,911
Daesang Corp.		710		19,740
Dongsuh Cos., Inc.		1,440		38,255
Dongwon F&B Co., Ltd.		13		4,357
Dongwon Industries Co., Ltd.		60		13,535
E-MART, Inc.		318		51,258
GS Retail Co., Ltd.		438		20,097
Harim Co., Ltd. (b)		2,467		8,752
Hite Jinro Co., Ltd.		640		12,772
Hyundai Greenfood Co., Ltd.		750		15,863
Jinro Distillers Co., Ltd.		177		5,155
Korea Kolmar Co., Ltd.		207		16,753
Korea Kolmar Holdings Co., Ltd.		105		5,821
KT&G Corp.		2,256		201,059
LG Household & Health Care, Ltd.		177		158,501
LG Household & Health Care, Ltd. Preference Shares		15		6,972
Lotte Chilsung Beverage Co., Ltd.		5		9,462
Lotte Confectionery Co., Ltd.		16		31,098
Lotte Food Co., Ltd.		40		32,374
Maeil Dairy Industry Co., Ltd.		578		21,788
Muhak Co., Ltd. (b)		257		8,373
Namyang Dairy Products Co., Ltd.		18		11,329
Nong Woo Bio Co., Ltd.		815		15,152
NongShim Co., Ltd.		60		22,489
Orion Corp.		63		62,648
Ottogi Corp.		63		65,818
Pulmuone Co., Ltd.		26		4,124
Sajo Industries Co., Ltd. (b)		221		12,741
Samlip General Foods Co., Ltd.		33		7,782
Samyang Holdings Corp.		119		16,137
Sansung Life & Science Co., Ltd. (b)		229		5,839
Sunjin Co., Ltd.		332		7,900
				1,295,998
SPAIN — 0.5%
Distribuidora Internacional de Alimentacion SA (a) (b)		4,144		24,507
Ebro Foods SA		7,324		144,442
				168,949
SWEDEN — 1.3%
ICA Gruppen AB		216		7,876
Svenska Cellulosa AB SCA Class A		2,179		63,504
Svenska Cellulosa AB SCA Class B		6,572		192,157
Swedish Match AB		5,069		180,499
				444,036
SWITZERLAND — 15.1%
Aryzta AG (b)		990		50,440
Chocoladefabriken Lindt & Spruengli AG		64		399,920
Coca-Cola HBC AG (b)		3,122		66,630
Nestle SA		60,018		4,469,872
Oriflame Holding AG (a) (b)		950		15,325
				5,002,187
UNITED KINGDOM — 30.0%
Associated British Foods PLC		5,425		267,223
Booker Group PLC		12,135		32,463
British American Tobacco PLC		34,766		1,932,321
Diageo PLC		48,408		1,324,586
Greggs PLC		739		14,312
Imperial Tobacco Group PLC		18,799		993,742
J Sainsbury PLC (a)		31,334		119,522
Reckitt Benckiser Group PLC		12,972		1,200,892
SABMiller PLC		17,370		1,041,859
Tate & Lyle PLC		12,103		106,853

231

SPDR S&P International Consumer Staples Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Tesco PLC (b)		153,363	$	337,932
Unilever NV		32,049		1,396,249
Unilever PLC		24,630		1,062,383
Wm Morrison Supermarkets PLC (a)		53,133		116,060
				9,946,397
TOTAL COMMON STOCKS (Cost $34,416,246)				32,945,416
SHORT-TERM INVESTMENTS — 7.1%
UNITED STATES — 7.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g)		16,534		16,534
State Street Navigator Securities Lending Prime Portfolio (f) (h)		2,334,844		2,334,844
TOTAL SHORT-TERM INVESTMENTS (Cost $2,351,378)				2,351,378
TOTAL INVESTMENTS — 106.6% (Cost $36,767,624)				35,296,794
LIABILITIES IN EXCESS OF OTHER ASSETS — (6.6)%				(2,190,435	)
NET ASSETS — 100.0%			$	33,106,359

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (see accompanying Notes to Schedules of Investments).

(e) Amount shown represents less than 0.05% of net assets.

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown represents the rate at December 31, 2015.

(h) Investment of cash collateral for securities loaned

232

SPDR S&P International Energy Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.4%
AUSTRALIA — 5.0%
Beach Energy, Ltd. (a)		30,768	$	10,969
Caltex Australia, Ltd.		6,628		181,797
Karoon Gas Australia, Ltd. (a) (b)		3,933		5,065
Liquefied Natural Gas, Ltd. (a) (b)		11,471		6,677
Oil Search, Ltd.		29,206		142,367
Origin Energy, Ltd.		42,391		144,955
Paladin Energy, Ltd. (a) (b)		32,300		5,640
Santos, Ltd.		37,702		100,943
Washington H Soul Pattinson & Co., Ltd.		3,221		40,963
Whitehaven Coal, Ltd. (a) (b)		9,934		5,059
Woodside Petroleum, Ltd.		17,226		359,941
WorleyParsons, Ltd. (a)		5,268		17,746
				1,022,122
AUSTRIA — 0.7%
OMV AG		4,822		136,873
BELGIUM — 0.2%
Euronav NV		2,472		34,050
CANADA — 26.5%
AltaGas, Ltd. (a)		5,328		118,519
ARC Resources, Ltd. (a)		8,057		96,863
Athabasca Oil Corp. (b)		14,368		15,929
Baytex Energy Corp. (a)		4,016		12,952
Bonavista Energy Corp. (a)		8,397		11,002
Bonterra Energy Corp.		810		10,030
Cameco Corp.		14,280		175,480
Canadian Energy Services & Technology Corp. (a)		6,131		17,125
Canadian Natural Resources, Ltd.		29,050		631,985
Canadian Oil Sands, Ltd.		12,028		71,609
Cenovus Energy, Inc.		20,874		262,972
Crescent Point Energy Corp. (a)		11,807		137,016
Enbridge Income Fund Holdings, Inc. (a)		1,353		27,302
Enbridge, Inc.		21,927		726,112
Encana Corp.		19,979		101,110
Enerflex, Ltd.		1,857		17,767
Enerplus Corp. (a)		7,939		27,147
Ensign Energy Services, Inc.		3,259		17,314
Gibson Energy, Inc. (a)		3,105		30,891
Gran Tierra Energy, Inc. (b)		5,907		12,800
Husky Energy, Inc.		9,140		94,160
Imperial Oil, Ltd.		6,431		208,703
Inter Pipeline, Ltd. (a)		7,757		124,025
Keyera Corp. (a)		4,099		118,800
Lightstream Resources, Ltd. (a)		4,090		766
MEG Energy Corp. (b)		3,205		18,504
Mullen Group, Ltd. (a)		2,445		24,659
Paramount Resources, Ltd. Class A (a) (b)		1,266		5,578
Parkland Fuel Corp. (a)		1,968		32,996
Pason Systems, Inc.		1,623		22,655
Pembina Pipeline Corp. (a)		7,792		169,123
Pengrowth Energy Corp.		12,689		9,317
Penn West Petroleum, Ltd.		9,529		7,969
Peyto Exploration & Development Corp. (a)		3,320		59,440
PrairieSky Royalty, Ltd. (a)		3,559		56,161
Precision Drilling Corp.		14,503		57,110
Raging River Exploration, Inc. (b)		6,878		41,443
Secure Energy Services, Inc.		2,803		16,869
Seven Generations Energy, Ltd. Class A (b)		4,042		39,224
ShawCor, Ltd.		1,508		30,473
Suncor Energy, Inc.		37,153		955,371
Sunshine Oilsands, Ltd. (a) (b)		56,000		4,552
Tourmaline Oil Corp. (b)		4,020		64,680
TransCanada Corp. (a)		18,181		591,462
Trican Well Service, Ltd. (a) (b)		6,950		3,202
Trilogy Energy Corp.		1,210		3,188
Veresen, Inc. (a)		5,118		32,644
Vermilion Energy, Inc. (a)		2,596		70,287
Whitecap Resources, Inc. (a)		7,106		46,398
				5,431,684
COLOMBIA — 0.0% (c)
Pacific Exploration and Production Corp. (a)		7,603		9,359
CYPRUS — 0.0% (c)
Ocean Rig UDW, Inc. (a)		920		1,500
FINLAND — 0.6%
Neste Oyj		3,879		116,426
FRANCE — 13.1%
Bourbon SA (a)		698		11,336
CGG SA (a) (b)		6,365		18,530
Gaztransport Et Technigaz SA		429		18,159
Technip SA		3,134		155,703
TOTAL SA		55,322		2,479,873
				2,683,601
HONG KONG — 0.2%
Brightoil Petroleum Holdings, Ltd. (a)		56,000		18,787
Sino Oil And Gas Holdings, Ltd. (b)		400,000		10,838
Yanchang Petroleum International, Ltd. (b)		220,000		4,258
				33,883
ISRAEL — 0.2%
Delek Group, Ltd.		109		21,853
Paz Oil Co., Ltd.		138		21,702
				43,555
ITALY — 5.1%
Eni SpA		64,580		968,115
Saipem SpA (a) (b)		7,319		59,550
Saras SpA (b)		9,188		17,806
				1,045,471
JAPAN — 3.8%
Cosmo Energy Holdings Co., Ltd. (b)		1,600		21,667
Idemitsu Kosan Co., Ltd.		2,900		46,720
Inpex Corp.		26,400		260,170
Itochu Enex Co., Ltd.		1,300		10,050
Japan Petroleum Exploration Co., Ltd.		900		24,427
JX Holdings, Inc. (a)		60,997		257,790
Modec, Inc.		500		7,012
Nippon Gas Co., Ltd.		1,100		27,268
San-Ai Oil Co., Ltd.		1,000		8,222
Shinko Plantech Co., Ltd.		1,000		8,296
Showa Shell Sekiyu KK (a)		5,100		41,887
TonenGeneral Sekiyu KK (a)		7,000		59,471
Toyo Kanetsu KK		3,000		6,534
				779,514

233

SPDR S&P International Energy Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
LUXEMBOURG — 0.7%
Tenaris SA (a)		11,489	$	136,537
NETHERLANDS — 16.8%
Fugro NV (b)		1,489		24,360
Koninklijke Vopak NV		1,649		71,061
Royal Dutch Shell PLC Class A		87,991		1,979,069
Royal Dutch Shell PLC Class B		56,831		1,292,466
SBM Offshore NV (a) (b)		5,036		63,787
				3,430,743
NEW ZEALAND — 0.2%
Z Energy, Ltd.		9,610		44,474
NORWAY — 3.0%
Akastor ASA (b)		8,900		12,066
Aker Solutions ASA (a)		8,900		30,467
BW LPG, Ltd. (d)		2,014		16,610
DNO ASA (a)(b)		16,362		11,137
Fred Olsen Energy ASA (b)		837		3,253
Frontline, Ltd.		8,149		23,587
Golar LNG, Ltd.		1,962		30,980
Kvaerner ASA		14,934		13,869
Petroleum Geo-Services ASA		8,130		33,388
Prosafe SE (a)		6,100		14,472
Ship Finance International, Ltd. (a)		1,434		23,761
Statoil ASA (a)		25,266		353,099
TGS Nopec Geophysical Co. ASA		2,659		42,478
				609,167
PORTUGAL — 0.6%
Galp Energia SGPS SA		10,232		119,153
SINGAPORE — 0.2%
Ezion Holdings, Ltd. (a)		28,780		12,375
InterOil Corp. (a) (b)		937		29,440
				41,815
SOUTH KOREA — 1.7%
GS Holdings Corp.		1,395		60,318
Hankook Shell Oil Co., Ltd.		111		44,635
S-Oil Corp.		1,102		74,623
SK Innovation Co., Ltd. (b)		1,461		161,980
				341,556
SPAIN — 1.7%
Repsol SA		26,409		290,324
Tecnicas Reunidas SA (a)		1,677		63,487
				353,811
SWEDEN — 0.3%
Lundin Petroleum AB (a) (b)		4,840		70,385
UNITED KINGDOM — 18.6%
Afren PLC (a) (b)		26,211		—
Amec Foster Wheeler PLC		7,508		47,462
BG Group PLC		81,639		1,185,228
BP PLC		412,924		2,154,475
Cairn Energy PLC (b)		20,336		47,268
Genel Energy PLC (b)		3,851		9,649
John Wood Group PLC		13,173		118,921
Ophir Energy PLC (b)		10,825		15,708
Petrofac, Ltd.		6,448		75,650
Premier Oil PLC (b)		15,569		11,129
Seadrill, Ltd. (a) (b)		8,911		30,756
Subsea 7 SA (a) (b)		7,833		55,796
Tullow Oil PLC (b)		26,709		65,230
				3,817,272
UNITED STATES — 0.2%
DHT Holdings, Inc.		2,164		17,507
Nordic American Tankers, Ltd. (a)		2,166		33,659
				51,166
TOTAL COMMON STOCKS (Cost $31,875,581)				20,354,117
RIGHTS — 0.1%
SPAIN — 0.1%
Repsol SA (expiring 1/14/16) (b) (Cost: $13,346)		26,409		13,168
SHORT-TERM INVESTMENTS — 10.5%
UNITED STATES — 10.5%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f)		10,465		10,465
State Street Navigator Securities Lending Prime Portfolio (f) (g)		2,135,618		2,135,618
TOTAL SHORT-TERM INVESTMENTS (Cost $2,146,083)				2,146,083
TOTAL INVESTMENTS — 110.0% (Cost $34,035,010)				22,513,368
LIABILITIES IN EXCESS OF OTHER ASSETS — (10.0)%				(2,038,764	)
NET ASSETS — 100.0%			$	20,474,604

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Amount shown represents less than 0.05% of net assets.

(d) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.1% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) Investment of cash collateral for securities loaned

234

SPDR S&P International Financial Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.4%
AUSTRALIA — 11.4%
AMP, Ltd.		7,878	$	33,416
Astro Japan Property Group		6,760		24,886
ASX, Ltd.		956		29,533
Australia & New Zealand Banking Group, Ltd. (a)		6,824		138,667
Commonwealth Bank of Australia (a)		4,201		261,417
Goodman Group REIT (a)		9,237		42,137
Insurance Australia Group, Ltd.		6,583		26,629
Macquarie Group, Ltd.		836		50,343
National Australia Bank, Ltd.		6,417		140,994
QBE Insurance Group, Ltd.		4,167		38,169
Scentre Group REIT		19,352		58,993
Servcorp, Ltd.		2,820		14,382
Stockland REIT (a)		6,042		18,023
Suncorp Group, Ltd.		3,617		31,947
Vicinity Centres REIT		17,704		36,066
Westfield Corp.		8,505		58,846
Westpac Banking Corp.		8,466		206,711
				1,211,159
AUSTRIA — 0.6%
Erste Group Bank AG (b)		1,315		41,297
S IMMO AG (b)		2,884		25,690
				66,987
BELGIUM — 1.6%
Aedifica SA		587		38,616
Ageas		978		45,471
Groupe Bruxelles Lambert SA		298		25,519
KBC Groep NV		926		58,011
				167,617
CANADA — 10.8%
Bank of Montreal		2,044		114,891
Bank of Nova Scotia		3,421		137,840
Brookfield Asset Management, Inc. Class A		2,364		74,285
Canadian Imperial Bank of Commerce		1,061		69,651
CI Financial Corp.		931		20,509
Fairfax Financial Holdings, Ltd.		9		4,256
Great-West Lifeco, Inc.		1,876		46,633
Intact Financial Corp.		802		51,200
Manulife Financial Corp.		5,819		86,881
National Bank of Canada (a)		852		24,724
Power Corp. of Canada		1,079		22,479
Power Financial Corp. (a)		1,580		36,182
Royal Bank of Canada		3,747		200,014
Sun Life Financial, Inc.		1,832		56,908
Toronto-Dominion Bank		5,118		199,842
				1,146,295
DENMARK — 0.9%
Danske Bank A/S		2,015		54,321
Sydbank A/S		1,341		43,296
				97,617
FINLAND — 0.7%
Sampo Oyj Class A		1,359		69,385
FRANCE — 5.5%
ANF Immobilier		871		19,680
AXA SA		5,146		141,038
BNP Paribas SA		2,701		153,248
Credit Agricole SA		3,125		36,934
Klepierre		936		41,678
Mercialys SA		1,696		34,333
Societe Generale SA		1,555		71,909
Unibail-Rodamco SE		333		84,791
				583,611
GERMANY — 5.4%
Allianz SE		1,184		210,355
alstria office REIT-AG (a) (b)		1,804		24,133
Commerzbank AG (b)		2,667		27,732
Deutsche Bank AG		3,430		83,928
Deutsche Boerse AG		355		31,387
Deutsche Wohnen AG		1,140		31,721
Hamborner REIT AG		3,626		37,869
Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG		400		80,191
Sixt Leasing AG (a) (b)		498		10,170
Vonovia SE		1,028		31,882
				569,368
HONG KONG — 6.9%
AIA Group, Ltd.		33,223		199,763
Bank of East Asia, Ltd. (a)		3,886		14,466
BOC Hong Kong Holdings, Ltd.		9,949		30,424
Cheung Kong Property Holdings, Ltd.		1,480		9,625
Hang Lung Properties, Ltd.		11,860		26,994
Hang Seng Bank, Ltd.		2,089		39,758
Henderson Land Development Co., Ltd.		6,224		38,146
Hong Kong Exchanges and Clearing, Ltd.		2,907		74,455
Hongkong Land Holdings, Ltd. (a)		4,809		33,663
Link REIT		6,001		35,928
Lippo China Resources, Ltd.		120,000		4,181
New World Development Co., Ltd. (a)		35,050		34,642
Sino Land Co., Ltd.		31,417		46,050
Sun Hung Kai Properties, Ltd.		5,274		63,695
Swire Pacific, Ltd. Class A		4,974		55,965
Wharf Holdings, Ltd.		3,911		21,699
				729,454
IRELAND — 0.4%
Bank of Ireland (b)		77,309		28,385
Irish Residential Properties REIT PLC		10,447		13,278
				41,663
ISRAEL — 0.7%
Airport City, Ltd. (b)		741		6,664
Bank Leumi Le-Israel BM (b)		8,956		31,073
Sella Capital Real Estate, Ltd.		24,139		34,307
				72,044
ITALY — 3.6%
Assicurazioni Generali SpA		4,587		84,310
Banca Monte dei Paschi di Siena SpA (b)		6,976		9,336
Banca Popolare dell’Emilia Romagna SC		1,948		14,897
Banca Popolare dell’Etruria e del Lazio SC (b)		1,627		—
Banca Popolare di Milano Scarl		19,556		19,566
Banco Popolare SC (b)		946		13,164
Intesa Sanpaolo SpA		39,380		132,100
UniCredit SpA		16,174		90,221
Unione di Banche Italiane SpA		3,377		22,744
				386,338

235

SPDR S&P International Financial Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
JAPAN — 17.0%
Bank of Kyoto, Ltd. (a)		3,000	$	28,181
Bank of the Ryukyus, Ltd.		2,300		32,656
Bank of Yokohama, Ltd.		8,954		55,535
Chiba Bank, Ltd.		6,000		43,094
Dai-ichi Life Insurance Co., Ltd.		3,183		53,846
Daito Trust Construction Co., Ltd.		472		54,971
Daiwa House Industry Co., Ltd.		1,890		55,037
Daiwa Securities Group, Inc.		3,878		24,011
Hitachi Capital Corp.		900		24,502
Japan Exchange Group, Inc. (a)		3,400		53,984
LIFENET INSURANCE Co. (b)		2,800		10,567
Mitsubishi Estate Co., Ltd.		3,977		83,428
Mitsubishi UFJ Financial Group, Inc.		38,844		244,472
Mitsui Fudosan Co., Ltd.		2,983		75,781
Mizuho Financial Group, Inc.		56,928		115,233
MS&AD Insurance Group Holdings, Inc.		2,174		64,518
Nippon Building Fund, Inc.		11		52,762
Nomura Holdings, Inc.		14,307		80,767
ORIX Corp.		5,072		72,331
Raysum Co., Ltd. (a)		1,600		13,819
Relo Holdings, Inc.		100		12,212
Resona Holdings, Inc.		5,627		27,654
Shizuoka Bank, Ltd. (a)		1,989		19,544
Sompo Japan Nipponkoa Holdings, Inc. (a)		1,689		56,316
Sumitomo Mitsui Financial Group, Inc.		4,346		166,405
Sumitomo Mitsui Trust Holdings, Inc.		17,825		68,310
Sumitomo Realty & Development Co., Ltd.		1,994		57,601
T&D Holdings, Inc. (a)		3,377		45,169
Takara Leben Co., Ltd. (a)		1,600		8,991
TOC Co., Ltd. (a)		200		1,774
Tokio Marine Holdings, Inc.		2,661		104,232
				1,807,703
NETHERLANDS — 1.6%
Aegon NV		4,148		23,566
ING Groep NV		10,961		148,242
				171,808
NORWAY — 0.4%
DNB ASA		2,574		31,930
Sparebanken Vest		3,690		14,591
				46,521
PORTUGAL — 0.1%
Banco Comercial Portugues SA (b)		101,842		5,410
SINGAPORE — 2.2%
CapitaLand, Ltd. (a)		11,960		28,242
DBS Group Holdings, Ltd.		4,433		52,153
Oversea-Chinese Banking Corp., Ltd. (a)		11,001		68,240
United Overseas Bank, Ltd.		3,873		53,537
UOL Group, Ltd.		8,400		36,948
				239,120
SOUTH KOREA — 1.8%
DGB Financial Group, Inc.		1,528		13,097
Hana Financial Group, Inc.		619		12,459
Hanwha General Insurance Co., Ltd. (b)		2,487		16,544
KB Financial Group, Inc.		825		23,324
KB Financial Group, Inc. ADR (b)		584		16,276
Samsung Fire & Marine Insurance Co., Ltd.		117		30,683
Samsung Life Insurance Co., Ltd.		306		28,707
Shinhan Financial Group Co., Ltd.		1,009		34,033
Shinhan Financial Group Co., Ltd. ADR (b)		449		15,082
				190,205
SPAIN — 3.7%
Banco Bilbao Vizcaya Argentaria SA		17,206		125,958
Banco de Sabadell SA (a)		16,935		30,078
Banco Popular Espanol SA (a)		5,461		18,052
Banco Santander SA		30,581		151,418
Bankia SA		20,280		23,660
Bolsas y Mercados Espanoles SHMSF SA (a)		644		21,729
CaixaBank SA (a)		6,665		23,270
				394,165
SWEDEN — 3.4%
Investment AB Kinnevik Class B		994		30,891
Investor AB Class B		1,693		62,775
Nordea Bank AB		9,300		102,921
Skandinaviska Enskilda Banken AB Class A		4,451		47,199
Svenska Handelsbanken AB Class A		3,814		51,076
Swedbank AB Class A		2,843		63,095
				357,957
SWITZERLAND — 5.9%
Credit Suisse Group AG		4,712		102,101
GAM Holding AG (b)		1,490		24,858
Julius Baer Group, Ltd. (b)		1,002		48,709
Swiss Life Holding AG (b)		227		61,524
Swiss Re AG		973		95,404
UBS Group AG		10,127		197,482
Zurich Insurance Group AG		387		99,901
				629,979
UNITED KINGDOM — 14.8%
Aviva PLC		12,456		94,732
Barclays PLC		41,579		134,149
British Land Co. PLC		6,344		73,494
Derwent London PLC		1,259		68,139
Henderson Group PLC		5,829		26,599
HSBC Holdings PLC		49,169		388,585
Land Securities Group PLC		2,016		34,973
Legal & General Group PLC		16,601		65,526
Lloyds Banking Group PLC		124,275		133,842
London Stock Exchange Group PLC		1,784		72,152
LondonMetric Property PLC		26,986		65,230
Man Group PLC		9,224		23,860
Old Mutual PLC		11,062		29,168
Primary Health Properties PLC		13,190		21,142
Provident Financial PLC		413		20,496
Prudential PLC		7,190		162,245
Royal Bank of Scotland Group PLC (b)		5,457		24,290
RSA Insurance Group PLC		4,151		26,094
Safestore Holdings PLC		802		4,225
Standard Chartered PLC		6,264		52,044
Standard Life PLC		4,986		28,638
Tritax Big Box REIT PLC		5,209		9,958
Virgin Money Holdings UK PLC		2,472		13,871
				1,573,452
TOTAL COMMON STOCKS (Cost $12,678,300)				10,557,858

236

SPDR S&P International Financial Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
RIGHTS — 0.0% (c)
ISRAEL — 0.0% (c)
Airport City, Ltd. (expiring 1/5/16) (b)		93	$	307
ITALY — 0.0%(c)
UBI Banca (expiring 1/12/16) (b)		3,067		148
TOTAL RIGHTS (Cost $0)				455
SHORT-TERM INVESTMENTS — 7.0%
UNITED STATES — 7.0%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e)		51,742		51,742
State Street Navigator Securities Lending Prime Portfolio (e) (f)		694,170		694,170
TOTAL SHORT-TERM INVESTMENTS (Cost $745,912)				745,912
TOTAL INVESTMENTS — 106.4% (Cost $13,424,212)				11,304,225
LIABILITIES IN EXCESS OF OTHER ASSETS — (6.4)%				(675,318	)
NET ASSETS — 100.0%			$	10,628,907

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Amount shown represents less than 0.05% of net assets.

(d) The rate shown is the annualized seven-day yield at December 31, 2015.

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) Investment of cash collateral for securities loaned

ADR = American Depositary Receipt

REIT = Real Estate Investment Trust

237

SPDR S&P International Health Care Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.5%
AUSTRALIA — 3.8%
Ansell, Ltd.		8,117	$	126,555
Cochlear, Ltd.		2,963		206,045
CSL, Ltd.		18,081		1,385,335
Healthscope, Ltd.		69,797		135,077
Primary Health Care, Ltd. (a)		32,456		55,255
Ramsay Health Care, Ltd.		6,503		321,442
Sirtex Medical, Ltd.		2,852		83,103
Sonic Healthcare, Ltd.		20,452		265,903
				2,578,715
BELGIUM — 0.9%
Galapagos NV (b)		1,559		96,125
UCB SA		6,012		543,562
				639,687
CANADA — 0.3%
Concordia Healthcare Corp.		1,859		75,666
Novadaq Technologies, Inc. (a) (b)		3,627		46,208
ProMetic Life Sciences, Inc. (b)		27,947		67,599
				189,473
DENMARK — 7.4%
Bavarian Nordic A/S (b)		1,223		63,644
Coloplast A/S Class B		5,085		412,289
Genmab A/S (b)		2,349		313,722
GN Store Nord A/S		8,728		159,192
H Lundbeck A/S (b)		3,027		103,723
Novo Nordisk A/S Class B		65,673		3,822,911
William Demant Holding A/S (b)		1,770		169,276
				5,044,757
FINLAND — 0.3%
Orion Oyj Class B		6,146		213,445
FRANCE — 8.0%
BioMerieux		993		118,549
Cellectis SA (b)		1,601		48,557
DBV Technologies SA (a) (b)		695		50,153
Essilor International SA		8,278		1,034,575
Genfit (b)		1,085		38,365
Ipsen SA		2,522		167,119
Korian SA		4,439		162,408
Orpea		2,156		172,797
Sanofi		42,163		3,600,011
Virbac SA (a)		292		69,720
				5,462,254
GERMANY — 9.8%
Bayer AG		28,780		3,620,338
Fresenius Medical Care AG & Co. KGaA		9,530		804,695
Fresenius SE & Co. KGaA		15,795		1,131,920
Gerresheimer AG		1,389		108,925
Merck KGaA		6,279		610,946
MorphoSys AG (b)		1,297		81,225
RHOEN-KLINIKUM AG		2,569		77,247
Sartorius AG Preference Shares		189		49,367
STADA Arzneimittel AG		4,425		179,489
				6,664,152
HONG KONG — 0.3%
CK Life Sciences Int’l Holdings, Inc. (a)		1,026,000		92,669
Lee’s Pharmaceutical Holdings, Ltd.		55,656		69,658
Town Health International Medical Group, Ltd. (a)		336,079		69,383
				231,710
IRELAND — 2.6%
Shire PLC		23,967		1,659,567
UDG Healthcare PLC (c)		8,619		75,713
UDG Healthcare PLC (c)		6,214		54,587
				1,789,867
ISRAEL — 3.7%
Teva Pharmaceutical Industries, Ltd.		38,841		2,540,454
ITALY — 0.3%
Recordati SpA		7,270		190,248
JAPAN — 17.0%
Alfresa Holdings Corp. (a)		9,700		193,927
Asahi Intecc Co., Ltd.		2,600		120,820
Astellas Pharma, Inc.		88,500		1,273,850
Chugai Pharmaceutical Co., Ltd. (a)		8,725		307,527
Daiichi Sankyo Co., Ltd. (a)		27,700		578,086
Eisai Co., Ltd.		11,300		757,404
Hisamitsu Pharmaceutical Co., Inc.		4,100		173,823
Hoya Corp.		14,000		579,692
Kaken Pharmaceutical Co., Ltd.		1,500		103,620
Kissei Pharmaceutical Co., Ltd. (a)		2,800		70,992
KYORIN Holdings, Inc.		3,700		77,879
Kyowa Hakko Kirin Co., Ltd.		11,422		181,829
M3, Inc. (a)		8,200		171,914
Medipal Holdings Corp.		9,400		162,065
Miraca Holdings, Inc.		2,600		115,632
Mitsubishi Tanabe Pharma Corp.		11,100		193,404
Nakanishi, Inc.		1,300		50,846
Nihon Kohden Corp. (a)		4,200		102,648
Nippon Shinyaku Co., Ltd. (a)		3,000		111,725
Olympus Corp.		12,200		486,803
Ono Pharmaceutical Co., Ltd.		4,100		739,258
Otsuka Holdings Co., Ltd. (a)		21,800		782,332
Rohto Pharmaceutical Co., Ltd.		5,900		118,790
Santen Pharmaceutical Co., Ltd.		17,800		296,827
Sawai Pharmaceutical Co., Ltd.		1,900		131,252
Shionogi & Co., Ltd. (a)		12,200		558,100
Ship Healthcare Holdings, Inc.		2,800		70,061
Sosei Group Corp.		700		57,899
Sumitomo Dainippon Pharma Co., Ltd. (a)		8,300		98,735
Suzuken Co., Ltd.		4,100		157,633
Sysmex Corp. (a)		6,800		442,612
Taisho Pharmaceutical Holdings Co., Ltd. (a)		2,600		185,444
Takara Bio, Inc. (a)		5,600		56,421
Takeda Pharmaceutical Co., Ltd.		28,800		1,452,030
Terumo Corp. (a)		14,500		455,630
Toho Holdings Co., Ltd. (a)		3,400		83,435
Tsumura & Co.		3,800		106,455
				11,607,400
JORDAN — 0.3%
Hikma Pharmaceuticals PLC		6,851		232,348
LUXEMBOURG — 0.2%
Eurofins Scientific SE		444		155,234

238

SPDR S&P International Health Care Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
NEW ZEALAND — 0.5%
Fisher & Paykel Healthcare Corp., Ltd.		31,267	$	190,508
Ryman Healthcare, Ltd.		29,025		168,899
				359,407
SINGAPORE — 0.4%
Biosensors International Group, Ltd. (b)		82,700		47,219
Haw Par Corp., Ltd. (a)		20,400		118,922
Raffles Medical Group, Ltd. (a)		35,690		104,656
				270,797
SOUTH KOREA — 2.0%
Cell Biotech Co., Ltd.		1,188		57,852
Celltrion, Inc. (a) (b)		4,453		320,906
Green Cross Corp.		526		82,093
Green Cross Holdings Corp.		2,815		100,712
Hanmi Pharm Co., Ltd. (b)		235		145,904
Hanmi Science Co., Ltd. (b)		1,273		140,051
Kolon Life Science, Inc.		294		49,771
Komipharm International Co., Ltd. (b)		2,071		68,353
Medy-Tox, Inc.		288		125,953
ViroMed Co., Ltd. (b)		717		112,575
Yuhan Corp.		602		139,905
				1,344,075
SPAIN — 0.8%
Grifols SA (a)		9,684		448,456
Grifols SA Class B, Preference Shares		1,946		63,239
				511,695
SWEDEN — 1.0%
Elekta AB Class B (a)		17,579		150,339
Getinge AB Class B		8,629		227,736
Meda AB Class A		14,245		180,965
Swedish Orphan Biovitrum AB (b)		8,285		132,275
				691,315
SWITZERLAND — 25.4%
Actelion, Ltd. (b)		4,380		610,837
Basilea Pharmaceutica, Ltd. (b)		883		84,948
Galenica AG (a)		179		281,465
Lonza Group AG (b)		2,541		414,023
Novartis AG		93,790		8,132,839
Roche Holding AG (a) (c)		1,959		541,612
Roche Holding AG (c)		24,460		6,753,990
Sonova Holding AG		2,286		290,717
Straumann Holding AG		474		144,426
Tecan Group AG		668		108,708
				17,363,565
UNITED KINGDOM — 11.6%
AstraZeneca PLC		48,092		3,272,305
BTG PLC (b)		17,954		182,193
Dechra Pharmaceuticals PLC		6,775		109,143
Genus PLC		4,518		103,482
GlaxoSmithKline PLC		166,854		3,376,566
Smith & Nephew PLC		44,305		788,838
Spire Healthcare Group PLC (d)		11,635		53,659
				7,886,186
UNITED STATES — 2.9%
ICON PLC (a) (b)		2,634		204,662
QIAGEN NV (b)		10,525		287,147
STERIS PLC		1,405		105,853
Taro Pharmaceutical Industries, Ltd. (b)		844		130,440
Valeant Pharmaceuticals International, Inc. (b)		12,426		1,257,360
				1,985,462
TOTAL COMMON STOCKS (Cost $62,659,100)				67,952,246
SHORT-TERM INVESTMENTS — 5.0%
UNITED STATES — 5.0%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f)		69,189		69,189
State Street Navigator Securities Lending Prime Portfolio (f) (g)		3,326,974		3,326,974
TOTAL SHORT-TERM INVESTMENTS (Cost $3,396,163)				3,396,163
TOTAL INVESTMENTS — 104.5%
(Cost $66,055,263)				71,348,409
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.5)%				(3,078,281	)
NET ASSETS — 100.0%			$	68,270,128

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.1% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) Investment of cash collateral for securities loaned

239

SPDR S&P International Industrial Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 2.8%
Asciano, Ltd. (a)		8,712	$	55,398
Brambles, Ltd.		14,369		120,955
CIMIC Group, Ltd. (a)		2,425		42,873
GWA Group, Ltd. (a) (b)		19,060		27,457
SEEK, Ltd. (a)		5,332		59,663
Transurban Group (b)		1,428		10,878
Transurban Group Stapled Security		25,702		195,783
				513,007
AUSTRIA — 0.4%
Andritz AG		857		41,940
Zumtobel Group AG (a)		1,087		27,489
				69,429
CANADA — 4.8%
Bombardier, Inc. Class B		17,838		17,208
CAE, Inc.		7,618		84,181
Canadian National Railway Co.		6,429		357,989
Canadian Pacific Railway, Ltd.		1,128		143,511
Cargojet, Inc.		1,955		34,975
K-Bro Linen, Inc. (a)		1,434		52,597
Progressive Waste Solutions, Ltd. (a)		900		21,122
SNC-Lavalin Group, Inc.		2,253		66,693
Toromont Industries, Ltd. (a)		3,116		70,772
WestJet Airlines, Ltd.		1,351		19,704
				868,752
CHINA — 0.2%
Fosun International, Ltd.		25,500		39,812
DENMARK — 2.4%
AP Moeller—Maersk A/S Class B		75		97,983
DSV A/S		2,306		91,202
FLSmidth & Co. A/S (a)		1,069		37,346
NKT Holding A/S		1,261		65,511
Vestas Wind Systems A/S		2,135		150,356
				442,398
FINLAND — 1.6%
Kone Oyj Class B (a)		3,365		143,182
Metso Oyj (a)		1,756		39,486
Valmet Oyj		2,118		20,477
Wartsila Oyj Abp		1,944		89,011
				292,156
FRANCE — 9.3%
Air France-KLM (a) (b)		4,279		32,631
Airbus Group SE		4,818		324,495
Alstom SA (a) (b)		2,356		72,083
Bouygues SA		2,159		85,710
Bureau Veritas SA		1,820		36,358
Cie de Saint-Gobain		4,053		175,451
Eiffage SA		954		61,693
Legrand SA		2,304		130,648
Safran SA		2,437		167,760
Schneider Electric SE		4,831		275,830
Vallourec SA (a)		1,719		16,059
Vinci SA		3,981		255,755
Zodiac Aerospace		2,321		55,406
				1,689,879
GERMANY — 7.3%
Brenntag AG		1,367		71,694
Deutsche Lufthansa AG (b)		2,814		44,523
Deutsche Post AG		8,158		230,014
GEA Group AG		2,856		116,033
HOCHTIEF AG		744		69,401
MAN SE		407		40,985
OSRAM Licht AG		902		38,008
Pfeiffer Vacuum Technology AG		435		44,206
Rheinmetall AG		740		49,421
Siemens AG		6,385		623,410
				1,327,695
HONG KONG — 3.5%
Cathay Pacific Airways, Ltd.		24,000		41,558
Cheung Kong Property Holdings, Ltd.		2,091		13,598
CK Hutchison Holdings, Ltd.		22,496		303,617
Hopewell Highway Infrastructure, Ltd. (a)		117,500		56,702
Jardine Matheson Holdings, Ltd.		1,982		96,583
Jardine Strategic Holdings, Ltd.		1,302		35,584
MTR Corp., Ltd.		12,094		59,922
Noble Group, Ltd. (a)		65,051		18,342
				625,906
IRELAND — 2.0%
Experian PLC		10,112		178,998
Kingspan Group PLC		2,870		75,791
Ryanair Holdings PLC ADR (a)		1,280		110,669
				365,458
ISRAEL — 0.3%
Inrom Construction Industries, Ltd.		23,915		56,913
ITALY — 1.5%
Ansaldo STS SpA		5,122		54,917
ASTM SpA		2,949		37,000
Atlantia SpA		3,052		81,227
Finmeccanica SpA (b)		7,058		98,906
				272,050
JAPAN — 33.5%
Asahi Glass Co., Ltd. (a)		13,000		75,215
Central Japan Railway Co.		1,600		287,294
Dai Nippon Printing Co., Ltd.		9,000		90,153
Daikin Industries, Ltd. (a)		2,400		177,583
East Japan Railway Co.		3,100		295,066
FANUC Corp.		1,500		262,854
Futaba Corp. (a)		2,800		38,080
Hankyu Hanshin Holdings, Inc.		15,000		98,383
IHI Corp.		19,000		53,227
ITOCHU Corp.		14,600		175,013
Japan Airport Terminal Co., Ltd. (a)		1,000		45,056
JGC Corp. (a)		3,000		46,461
JTEKT Corp. (a)		2,900		48,335
Kajima Corp. (a)		13,000		78,241
Kamigumi Co., Ltd. (a)		8,000		69,695
Kawasaki Heavy Industries, Ltd.		23,000		86,421
Kawasaki Kisen Kaisha, Ltd. (a)		19,000		41,066
Keikyu Corp.		6,000		50,027
Keisei Electric Railway Co., Ltd.		4,000		51,540
Kintetsu Group Holdings Co., Ltd.		15,000		61,474
Kitano Construction Corp.		21,000		54,990
Kokuyo Co., Ltd.		4,600		50,208

240

SPDR S&P International Industrial Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Komatsu, Ltd.		8,900	$	147,378
Kubota Corp.		11,000		172,642
LIXIL Group Corp. (a)		2,600		58,357
Mabuchi Motor Co., Ltd.		1,100		60,717
Makita Corp. (a)		1,300		75,972
Marubeni Corp.		14,700		76,387
Minebea Co., Ltd.		4,000		34,881
MISUMI Group, Inc.		4,500		63,070
Mitsubishi Corp.		13,300		224,219
Mitsubishi Electric Corp.		18,000		191,903
Mitsubishi Heavy Industries, Ltd.		32,000		141,865
Mitsui & Co., Ltd.		14,900		179,043
Mitsui OSK Lines, Ltd.		12,000		30,625
MonotaRO Co., Ltd. (a)		1,200		33,667
NGK Insulators, Ltd.		3,000		68,681
Nidec Corp.		2,300		168,960
Nippon Air Conditioning Services Co., Ltd.		4,500		46,498
Nippon Express Co., Ltd.		13,000		61,815
Nippon Yusen KK		17,000		41,689
NSK, Ltd. (a)		6,000		66,137
Obayashi Corp.		8,000		74,417
Odakyu Electric Railway Co., Ltd.		9,000		97,934
Park24 Co., Ltd.		1,900		46,262
Recruit Holdings Co., Ltd.		3,796		112,339
Secom Co., Ltd.		2,600		178,096
SMC Corp.		600		158,460
Sohgo Security Services Co., Ltd.		1,400		66,337
Sojitz Corp. (a)		28,000		59,587
Sumitomo Corp. (a)		11,800		121,683
Sumitomo Electric Industries, Ltd.		2,363		33,865
Sumitomo Heavy Industries, Ltd.		12,000		54,666
Taisei Corp.		12,000		79,804
THK Co., Ltd.		2,300		43,172
Tobu Railway Co., Ltd.		14,000		69,596
Tokyu Corp.		15,000		119,706
Tomoe Corp.		21,600		65,539
Toppan Printing Co., Ltd.		10,000		93,021
Toshiba Corp. (a) (b)		36,000		74,786
TOTO, Ltd. (a)		2,200		78,366
Toyota Tsusho Corp.		2,300		54,472
West Japan Railway Co.		1,800		125,601
Yamato Holdings Co., Ltd. (a)		4,700		100,646
				6,089,243
NETHERLANDS — 2.9%
Aalberts Industries NV		1,406		48,554
AerCap Holdings NV (b)		1,760		75,962
Boskalis Westminster		1,275		52,119
Koninklijke Philips NV		9,583		245,260
Randstad Holding NV		1,761		110,053
				531,948
NEW ZEALAND — 0.2%
Metro Performance Glass, Ltd.		32,233		37,955
NORWAY — 0.3%
Orkla ASA		6,667		52,801
SINGAPORE — 1.3%
ComfortDelGro Corp., Ltd.		39,000		83,847
Keppel Corp., Ltd. (a)		20,900		95,908
Keppel Infrastructure Trust		98,635		35,459
Neptune Orient Lines, Ltd. (a) (b)		32,750		28,395
				243,609
SOUTH KOREA — 3.2%
CJ Corp.		170		36,391
GS Global Corp.		9,307		43,576
Hyundai Development Co-Engineering & Construction		790		26,141
Hyundai Engineering & Construction Co., Ltd.		1,138		27,709
Hyundai Glovis Co., Ltd.		224		36,870
Hyundai Heavy Industries Co., Ltd. (b)		454		33,995
KCC Corp.		77		27,417
Korea Aerospace Industries, Ltd.		607		40,431
LG Corp.		1,428		86,224
Samsung C&T Corp. (b)		793		94,683
Samsung Heavy Industries Co., Ltd.		1,904		17,618
SK Holdings Co., Ltd.		273		55,995
Young Poong Precision Corp.		6,558		48,155
				575,205
SPAIN — 2.1%
Abertis Infraestructuras SA		4,401		68,891
ACS Actividades de Construccion y Servicios SA		3,013		88,421
Aena SA (b) (c)		749		85,758
Ferrovial SA		3,637		82,396
Gamesa Corp. Tecnologica SA		3,565		61,265
				386,731
SWEDEN — 5.3%
Alfa Laval AB		4,044		74,351
Assa Abloy AB Class B		7,770		164,052
Atlas Copco AB Class A		4,991		123,375
Atlas Copco AB Class B		3,230		74,825
B&B Tools AB Class B		2,207		32,396
Sandvik AB		10,350		90,909
Securitas AB Class B		4,794		73,924
Skanska AB Class B		3,443		67,303
SKF AB Class B		3,326		54,127
Trelleborg AB Class B		3,954		77,292
Volvo AB Class A		5,925		56,891
Volvo AB Class B		8,249		77,396
				966,841
SWITZERLAND — 5.6%
ABB, Ltd. (b)		18,580		333,363
Adecco SA (b)		1,947		134,014
Geberit AG		516		175,368
Kuehne + Nagel International AG		797		109,717
Schindler Holding AG		427		71,664
SGS SA		73		139,364
Wolseley PLC		1,033		56,197
				1,019,687
UNITED KINGDOM — 9.1%
Aggreko PLC		3,502		47,177
Ashtead Group PLC		5,275		87,000
Babcock International Group PLC		6,819		102,113
BAE Systems PLC		27,408		201,822
Balfour Beatty PLC (b)		11,746		46,778
Bunzl PLC		2,772		77,015
Capita PLC		5,576		99,279

241

SPDR S&P International Industrial Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
CNH Industrial NV		8,281	$	57,033
Cobham PLC		15,948		66,568
DCC PLC		1,243		103,695
easyJet PLC		2,892		74,168
Firstgroup PLC (b)		23,134		36,586
G4S PLC		11,575		38,471
IMI PLC		2,868		36,417
International Consolidated Airlines Group SA		8,838		79,526
Intertek Group PLC		1,346		55,092
Meggitt PLC		8,210		45,341
Melrose Industries PLC		13,094		56,142
Rentokil Initial PLC		44,709		104,973
Rolls-Royce Holdings PLC (b)		15,941		135,099
Smiths Group PLC		5,442		75,357
Weir Group PLC		1,949		28,726
				1,654,378
TOTAL COMMON STOCKS (Cost $20,192,378)				18,121,853
SHORT-TERM INVESTMENTS — 8.8%
UNITED STATES — 8.8%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e)		21,168		21,168
State Street Navigator Securities Lending Prime Portfolio (d) (f)		1,584,848		1,584,848
TOTAL SHORT-TERM INVESTMENTS (Cost $1,606,016)				1,606,016
TOTAL INVESTMENTS — 108.4%
(Cost $21,798,394)				19,727,869
LIABILITIES IN EXCESS OF OTHER ASSETS — (8.4)%				(1,537,071	)
NET ASSETS — 100.0%			$	18,190,798

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.5% of net assets as of December 31, 2015, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

(f) Investment of cash collateral for securities loaned

ADR = American Depositary Receipt

242

SPDR S&P International Materials Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 98.7%
AUSTRALIA — 10.7%
Alumina, Ltd. (a)		11,486	$	9,652
Amcor, Ltd.		5,110		49,967
Arrium, Ltd. (a) (b)		16,540		698
BHP Billiton PLC		9,366		104,914
BHP Billiton, Ltd.		13,901		180,630
BlueScope Steel, Ltd.		3,022		9,740
Boral, Ltd. (a)		6,938		29,832
DuluxGroup, Ltd.		1,570		7,596
Evolution Mining, Ltd.		2,088		2,112
Fortescue Metals Group, Ltd. (a)		8,500		11,564
Iluka Resources, Ltd. (a)		1,916		8,545
Incitec Pivot, Ltd.		8,449		24,342
Newcrest Mining, Ltd. (b)		3,598		33,952
Northern Star Resources, Ltd.		881		1,782
OceanaGold Corp.		1,300		2,471
Orica, Ltd. (a)		2,209		24,911
Orora, Ltd.		4,030		6,597
OZ Minerals, Ltd.		2,402		7,078
South32, Ltd. (b) (c)		9,913		7,671
South32, Ltd. (b) (c)		13,901		10,771
St Barbara, Ltd. (b)		1,748		1,812
				536,637
AUSTRIA — 0.7%
RHI AG (a)		449		8,787
Voestalpine AG		810		24,941
				33,728
BELGIUM — 1.2%
Resilux		14		2,184
Solvay SA (a)		323		34,536
Tessenderlo Chemie NV (b) (c)		120		3,585
Tessenderlo Chemie NV (b) (c) (d)		116		—
Umicore SA		485		20,371
				60,676
CANADA — 9.9%
Agnico Eagle Mines, Ltd.		1,134		29,691
Agrium, Inc. (a)		617		54,931
Alamos Gold, Inc. Class A		1,268		4,153
B2Gold Corp. (b)		3,366		3,392
Barrick Gold Corp.		4,928		36,328
Canam Group, Inc.		573		5,730
Canexus Corp. (a)		996		968
Canfor Corp. (b)		299		4,346
CCL Industries, Inc. Class B		150		24,228
Centerra Gold, Inc.		721		3,420
Detour Gold Corp. (b)		611		6,338
Eldorado Gold Corp.		4,178		12,332
First Majestic Silver Corp. (b)		673		2,185
First Quantum Minerals, Ltd. (a)		2,843		10,602
Franco-Nevada Corp.		748		34,086
Goldcorp, Inc.		3,935		45,296
Guyana Goldfields, Inc. (b)		500		1,109
HudBay Minerals, Inc.		1,038		3,968
IAMGOLD Corp. (a) (b)		1,739		2,466
Interfor Corp. (b)		529		5,347
Intertape Polymer Group, Inc.		575		7,736
Ivanhoe Mines, Ltd. Class A (b)		1,493		656
Kinross Gold Corp. (b)		5,582		10,086
Labrador Iron Ore Royalty Corp. (a)		287		1,981
Security Description	Shares		Value
Lucara Diamond Corp.		399		646
Lundin Mining Corp. (b)		2,308		6,314
Methanex Corp. (a)		374		12,304
New Gold, Inc. (b)		1,547		3,586
Novagold Resources, Inc. (a) (b)		700		2,928
Osisko Gold Royalties, Ltd.		198		1,948
Pan American Silver Corp.		1,022		6,629
Potash Corp. of Saskatchewan, Inc.		4,203		71,709
Pretium Resources, Inc. (b)		149		747
Richmont Mines, Inc. (b)		343		1,096
Seabridge Gold, Inc. (b)		100		824
SEMAFO, Inc. (b)		2,061		5,208
Sherritt International Corp.		2,432		1,278
Silver Wheaton Corp.		1,711		21,186
Teck Resources, Ltd. Class B (a)		2,107		8,100
Torex Gold Resources, Inc. (b)		1,300		1,179
Turquoise Hill Resources, Ltd. (b)		5,035		12,722
West Fraser Timber Co., Ltd.		250		9,454
Winpak, Ltd.		332		10,889
Yamana Gold, Inc.		4,197		7,765
				497,887
CHILE — 0.2%
Antofagasta PLC (a)		1,760		12,174
CHINA — 0.2%
China Gold International Resources Corp., Ltd. (b)		700		1,048
Fosun International, Ltd.		4,724		7,376
				8,424
DENMARK — 1.5%
Chr Hansen Holding A/S		446		28,027
Novozymes A/S Class B		1,027		49,423
				77,450
FINLAND — 1.9%
Stora Enso Oyj Class R		4,009		36,538
UPM-Kymmene Oyj		3,262		61,055
				97,593
FRANCE — 3.9%
Air Liquide SA		1,506		169,568
Arkema SA		350		24,558
Eramet (b)		21		673
				194,799
GERMANY — 12.4%
Aurubis AG		50		2,551
BASF SE		4,054		311,441
Evonik Industries AG		251		8,348
Fuchs Petrolub SE Preference Shares		196		9,262
HeidelbergCement AG		637		52,327
K S AG		963		24,709
Lanxess AG		363		16,830
Linde AG		822		119,564
Salzgitter AG		373		9,208
Symrise AG		449		29,914
ThyssenKrupp AG		1,862		37,096
Wacker Chemie AG (a)		68		5,726
				626,976
HONG KONG — 0.1%
CST Mining Group, Ltd. (b)		96,000		1,127
G-Resources Group, Ltd.		66,000		1,567

243

SPDR S&P International Materials Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Honbridge Holdings, Ltd. (b)		8,000	$	1,012
KuangChi Science, Ltd. (a) (b)		4,000		1,667
L’sea Resources International Holdings, Ltd. (b)		10,000		419
				5,792
INDIA — 0.1%
Vedanta Resources PLC		683		2,770
IRELAND — 3.2%
CRH PLC		4,050		117,467
James Hardie Industries PLC (a)		1,875		23,832
Smurfit Kappa Group PLC		809		20,687
				161,986
ISRAEL — 0.5%
Frutarom Industries, Ltd.		319		17,134
Israel Chemicals, Ltd.		1,975		8,025
				25,159
ITALY — 0.3%
Buzzi Unicem SpA		552		9,954
Italcementi SpA		669		7,449
				17,403
JAPAN — 21.8%
Air Water, Inc.		1,000		16,260
Asahi Kasei Corp.		5,833		39,902
Daicel Corp.		1,700		25,635
Denka Co., Ltd.		6,855		30,772
DIC Corp.		3,000		8,230
Fuji Seal International, Inc. (a)		300		9,128
Hitachi Metals, Ltd.		1,000		12,511
JFE Holdings, Inc. (a)		3,156		50,372
JSR Corp. (a)		1,973		31,146
Kaneka Corp. (a)		2,000		21,032
Kansai Paint Co., Ltd.		1,000		15,337
Kobe Steel, Ltd. (a)		21,641		23,927
Kuraray Co., Ltd. (a)		1,500		18,355
Maruichi Steel Tube, Ltd.		300		8,953
Mitsubishi Chemical Holdings Corp.		8,102		52,150
Mitsubishi Gas Chemical Co., Inc.		2,000		10,341
Mitsubishi Materials Corp.		5,866		18,725
Mitsui Chemicals, Inc.		6,876		30,980
Mitsui Mining & Smelting Co., Ltd. (a)		2,809		5,277
Nihon Nohyaku Co., Ltd.		800		5,048
Nippon Kayaku Co., Ltd.		1,000		10,599
Nippon Paint Holdings Co., Ltd.		900		22,131
Nippon Paper Industries Co., Ltd. (a)		400		6,531
Nippon Shokubai Co., Ltd.		200		14,082
Nippon Steel & Sumitomo Metal Corp. (a)		5,000		100,420
Nissan Chemical Industries, Ltd. (a)		400		9,207
Nitto Denko Corp.		776		57,490
Oji Holdings Corp. (a)		6,000		24,390
Pack Corp.		300		7,594
Rengo Co., Ltd. (a)		2,000		8,612
Shin-Etsu Chemical Co., Ltd.		2,067		113,698
Showa Denko KK		4,000		4,722
Sumitomo Chemical Co., Ltd.		8,838		51,502
Sumitomo Metal Mining Co., Ltd.		2,927		35,999
T&K Toka Co., Ltd. (a)		600		5,716
Taiheiyo Cement Corp.		9,744		28,674
Teijin, Ltd.		3,805		13,127
Tomoku Co., Ltd.		3,000		7,132
Security Description	Shares		Value
Toray Industries, Inc. (a)		8,838		83,020
Tosoh Corp.		3,000		15,636
Toyo Seikan Group Holdings, Ltd. (a)		600		11,282
Ube Industries, Ltd. (a)		11,866		25,351
Zeon Corp.		1,000		8,138
				1,099,134
LUXEMBOURG — 0.6%
APERAM SA (a) (b)		306		10,933
ArcelorMittal (a)		4,278		18,110
				29,043
MEXICO — 0.1%
Fresnillo PLC		635		6,626
NETHERLANDS — 2.4%
Akzo Nobel NV		1,107		74,172
AMG Advanced Metallurgical Group NV		286		2,801
Constellium NV Class A (b)		213		1,640
Koninklijke DSM NV		849		42,683
				121,296
NEW ZEALAND — 0.3%
Fletcher Building, Ltd.		2,000		10,064
Steel & Tube Holdings, Ltd.		1,852		2,840
				12,904
NORWAY — 1.4%
Norsk Hydro ASA		5,907		22,110
Yara International ASA		1,090		47,152
				69,262
PORTUGAL — 0.5%
Portucel SA		6,453		25,208
SOUTH AFRICA — 0.6%
Mondi PLC		1,496		29,414
SOUTH KOREA — 5.2%
Aekyung Petrochemical Co., Ltd.		150		6,985
Dongkuk Industries Co., Ltd.		938		3,048
Hanwha Chemical Corp.		377		8,745
Hanwha Corp.		265		8,905
Hyosung Corp.		116		11,624
Hyundai BNG Steel Co., Ltd.		110		915
Hyundai Steel Co.		263		11,204
Jenax, Inc. (b)		90		1,305
KISCO Corp.		20		690
Kolon Corp.		10		657
Kolon Industries, Inc.		24		1,285
Korea PetroChemical Ind Co., Ltd.		10		1,467
Korea Zinc Co., Ltd.		79		31,599
Kukdo Chemical Co., Ltd.		163		8,243
LG Chem, Ltd.		230		64,436
Lotte Chemical Corp.		72		14,952
OCI Co., Ltd.		88		5,629
Poongsan Holdings Corp.		70		2,477
POSCO ADR (a)		1,368		48,372
Sinjin SM Co., Ltd.		69		1,065
SK Chemicals Co., Ltd.		38		2,353
Taekwang Industrial Co., Ltd.		6		5,578
Tongyang, Inc. (b)		710		1,677
Wonik Materials Co., Ltd. (b)		190		10,646
Youlchon Chemical Co., Ltd.		719		7,236
Young Poong Corp.		2		1,871
				262,964

244

SPDR S&P International Materials Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SWEDEN — 0.8%
Boliden AB		1,252	$	21,222
Hexpol AB		1,140		12,319
SSAB AB Class A (a) (b)		2,221		5,956
				39,497
SWITZERLAND — 8.9%
Clariant AG (b)		1,263		23,986
EMS-Chemie Holding AG		37		16,301
Givaudan SA (b)		40		72,847
Glencore PLC		46,652		62,214
LafargeHolcim, Ltd. (b) (c)		1,057		53,114
LafargeHolcim, Ltd. (b) (c)		916		46,489
Sika AG		4		14,465
Syngenta AG		411		161,074
				450,490
UNITED KINGDOM — 9.0%
Anglo American PLC (a)		5,672		25,034
Croda International PLC		599		26,857
DS Smith PLC		3,970		23,212
Elementis PLC		1,585		5,352
Essentra PLC		1,051		12,826
Hill & Smith Holdings PLC		95		1,060
Johnson Matthey PLC		1,160		45,427
Randgold Resources, Ltd.		608		37,127
Rexam PLC		2,992		26,658
Rio Tinto PLC		5,540		161,634
Rio Tinto, Ltd.		2,038		66,294
RPC Group PLC		969		11,897
Victrex PLC		378		10,051
				453,429
UNITED STATES — 0.3%
Alacer Gold Corp. (b)		827		1,471
Sims Metal Management, Ltd. (a)		1,690		8,902
Tahoe Resources, Inc.		700		6,032
				16,405
TOTAL COMMON STOCKS (Cost $9,308,086)				4,975,126
SHORT-TERM INVESTMENTS — 11.6%
UNITED STATES — 11.6%
State Street Institutional Liquid Reserve Fund, Premier Class 0.23% (e) (f)		685		685
State Street Navigator Securities Lending Prime Portfolio (e) (g)		582,042		582,042
TOTAL SHORT-TERM INVESTMENTS (Cost $582,727)				582,727
TOTAL INVESTMENTS — 110.3% (Cost $9,890,813)				5,557,853
LIABILITIES IN EXCESS OF OTHER ASSETS — (10.3)%				(519,971	)
NET ASSETS — 100.0%			$	5,037,882

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (see accompanying Notes to Schedules of Investments).

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

(g) Investment of cash collateral for securities loaned

ADR American Depositary Receipt

245

SPDR S&P International Technology Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.7%
AUSTRALIA — 1.0%
carsales.com, Ltd.		3,036	$	25,799
Computershare, Ltd. (a)		6,512		55,053
iProperty Group, Ltd. (b)		2,525		7,257
IRESS, Ltd. (a)		3,289		23,929
				112,038
AUSTRIA — 0.2%
ams AG		562		18,836
BELGIUM — 0.2%
Barco NV		301		20,142
CANADA — 3.7%
Avigilon Corp. (a) (b)		274		2,702
BlackBerry, Ltd. (a) (b)		5,472		50,580
Canadian Solar, Inc. (a) (b)		341		9,875
Celestica, Inc. (b)		2,902		31,964
CGI Group, Inc. Class A (b)		3,021		120,483
Constellation Software, Inc.		221		91,779
DH Corp.		1,408		32,050
Open Text Corp.		1,264		60,366
Redknee Solutions, Inc. (a) (b)		781		1,670
Sandvine Corp. (a) (b)		1,900		4,842
				406,311
CHINA — 0.1%
New Sports Group, Ltd. (a) (b)		140,000		4,083
Technovator International, Ltd. (b)		8,000		5,130
				9,213
DENMARK — 0.4%
SimCorp A/S		711		40,157
FINLAND — 2.6%
Nokia Oyj		34,836		249,570
Tieto Oyj		1,325		35,581
				285,151
FRANCE — 5.5%
Alcatel-Lucent (b)		28,862		114,438
Atos SE		729		61,334
Cap Gemini SA		1,707		158,729
Criteo SA ADR (b)		444		17,582
Dassault Systemes		1,320		105,780
Ingenico Group SA		568		71,883
Neopost SA		512		12,497
SOITEC (a) (b)		2,851		1,982
Sopra Steria Group		90		10,588
UBISOFT Entertainment (b)		1,980		57,364
				612,177
GERMANY — 10.0%
AIXTRON SE (a) (b)		1,545		6,928
Infineon Technologies AG		11,778		172,789
RIB Software AG (a)		132		1,620
Rocket Internet SE (a) (b) (c)		285		8,743
SAP SE		9,115		726,581
Software AG (a)		689		19,775
United Internet AG		1,423		78,697
Wincor Nixdorf AG		528		26,599
Wirecard AG (a)		1,104		55,766
				1,097,498
HONG KONG — 0.9%
ASM Pacific Technology, Ltd. (a)		4,049		31,817
China Goldjoy Group, Ltd. (b)		44,000		5,904
China Innovationpay Group, Ltd. (b)		84,000		4,498
Landing International Development, Ltd. (b)		136,651		3,914
Nan Hai Corp., Ltd. (b)		200,000		4,413
PAX Global Technology, Ltd. (a)		10,000		10,309
Peace Map Holding, Ltd. (b)		120,000		5,806
United Photovoltaics Group, Ltd. (a) (b)		88,000		8,516
VTech Holdings, Ltd.		2,271		23,545
Yunbo Digital Synergy Group, Ltd. (b)		6,000		1,781
				100,503
IRELAND — 0.1%
King Digital Entertainment PLC		542		9,691
ISRAEL — 1.9%
Check Point Software Technologies, Ltd. (a) (b)		1,428		116,210
CyberArk Software, Ltd. (b)		186		8,396
EZchip Semiconductor, Ltd. (b)		202		5,009
Ituran Location and Control, Ltd.		1,002		18,773
NICE-Systems, Ltd.		812		46,849
Tower Semiconductor, Ltd. (b)		533		7,626
Wix.com, Ltd. (b)		177		4,027
				206,890
JAPAN — 32.6%
Advantest Corp. (a)		2,478		20,847
Alps Electric Co., Ltd.		2,347		64,677
Anritsu Corp. (a)		1,800		11,926
Azbil Corp. (a)		1,286		33,301
Brother Industries, Ltd.		3,248		37,854
Canon, Inc. (a)		10,319		315,244
Citizen Holdings Co., Ltd. (a)		4,155		30,188
COLOPL, Inc.		300		5,975
COOKPAD, Inc. (a) (b)		400		8,619
DeNA Co., Ltd. (a)		1,300		20,522
Dip Corp. (a)		300		6,227
FUJIFILM Holdings Corp.		4,825		203,757
Fujitsu, Ltd.		20,688		104,373
GMO internet, Inc. (a)		500		6,659
GungHo Online Entertainment, Inc. (a) (b)		3,800		10,393
Hamamatsu Photonics KK		1,800		49,902
Hirose Electric Co., Ltd. (a)		400		49,079
Hitachi High-Technologies Corp.		1,177		32,190
Hitachi, Ltd.		46,325		266,293
Horiba, Ltd. (a)		886		34,580
Ibiden Co., Ltd. (a)		1,970		28,544
Infomart Corp. (a)		500		4,967
IT Holdings Corp.		1,779		41,157
Japan Digital Laboratory Co., Ltd.		1,483		20,317
Japan Display, Inc. (a) (b)		3,450		10,066
Kakaku.com, Inc.		1,700		33,832
Keyence Corp.		392		218,591
Konami Holdings Corp.		1,385		33,251
Konica Minolta, Inc.		5,506		55,932
Kyocera Corp.		3,583		168,405
Mitsumi Electric Co., Ltd. (a)		1,779		10,189
Murata Manufacturing Co., Ltd.		1,969		287,587
NEC Corp.		26,578		85,062

246

SPDR S&P International Technology Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Nexon Co., Ltd.		1,800	$	29,612
Nintendo Co., Ltd.		1,083		150,843
Nippon Electric Glass Co., Ltd. (a)		4,933		25,138
Nomura Research Institute, Ltd. (a)		1,500		58,232
NTT Data Corp.		1,692		82,705
Obic Co., Ltd.		1,090		58,353
Oki Electric Industry Co., Ltd. (a)		10,776		13,616
Omron Corp.		2,461		83,162
Otsuka Corp. (a)		800		39,636
Renesas Electronics Corp. (a) (b)		1,900		12,162
Ricoh Co., Ltd.		6,801		70,727
Rohm Co., Ltd.		1,180		60,621
SCREEN Holdings Co., Ltd. (a)		4,937		36,855
SCSK Corp. (a)		1,000		40,608
Seiko Epson Corp.		3,100		48,190
Shimadzu Corp.		2,000		34,000
Sumco Corp.		1,878		14,425
Taiyo Yuden Co., Ltd. (a)		1,784		25,004
TDK Corp. (a)		1,478		96,080
Tokyo Electron, Ltd.		1,770		107,735
Trend Micro, Inc. (b)		1,181		48,400
Wacom Co., Ltd. (a)		2,200		8,815
Yahoo Japan Corp. (a)		13,919		57,159
Yaskawa Electric Corp. (a)		3,312		45,786
Yokogawa Electric Corp.		3,035		36,961
				3,595,331
NETHERLANDS — 6.3%
ASM International NV		877		34,449
ASML Holding NV		4,168		373,761
Cimpress NV (a) (b)		462		37,487
Gemalto NV		939		56,377
NXP Semiconductors NV (b)		2,327		196,050
				698,124
NEW ZEALAND — 0.1%
Xero, Ltd. (a) (b)		664		9,001
NORWAY — 0.1%
Nordic Semiconductor ASA (a) (b)		1,491		7,286
Opera Software ASA (a)		1,452		8,292
				15,578
SINGAPORE — 0.4%
IGG, Inc.		9,000		4,041
Venture Corp., Ltd.		6,925		40,028
				44,069
SOUTH KOREA — 18.8%
Actoz Soft Co., Ltd. (b)		96		2,559
AfreecaTV Co., Ltd.		225		5,373
Bluecom Co., Ltd.		272		2,772
Com2uSCorp. (b)		97		9,803
Daou Technology, Inc.		330		6,135
Dongbu HiTek Co., Ltd. (b)		360		4,391
Dongwon Systems Corp.		58		4,363
DuzonBizon Co., Ltd.		370		6,469
Eo Technics Co., Ltd.		96		10,218
Gamevil, Inc. (b)		62		4,098
GemVax & Kael Co., Ltd. (b)		300		5,770
Joymax Co., Ltd. (b)		177		2,159
Kakao Corp.		249		24,591
KCP Co., Ltd. (b)		272		6,136
KH Vatec Co., Ltd.		276		3,978
LG Display Co., Ltd. ADR (b)		4,834		50,467
LG Innotek Co., Ltd.		207		17,389
Lumens Co., Ltd.		969		3,541
NAVER Corp.		289		162,178
NCSoft Corp.		175		31,790
Neowiz Games Corp. (b)		220		3,030
Nexon GT Co., Ltd. (b)		286		2,951
NHN Entertainment Corp. (b)		279		13,539
Partron Co., Ltd.		870		7,323
Sam Young Electronics Co., Ltd.		1,489		16,191
Samsung Electro-Mechanics Co., Ltd.		616		33,045
Samsung Electronics Co., Ltd. GDR		2,506		1,331,939
Samsung SDI Co., Ltd.		470		45,695
Samsung SDS Co., Ltd.		322		69,752
Seoul Semiconductor Co., Ltd. (b)		581		7,779
SK Communications Co., Ltd. (b)		816		3,055
SK Hynix, Inc.		5,448		142,873
SundayToz Corp. (b)		294		3,109
Texcell-NetCom Co., Ltd. (b)		1,734		2,381
Tovis Co., Ltd.		290		2,092
UniTest, Inc.		524		3,977
Webzen, Inc. (b)		225		4,538
WeMade Entertainment Co., Ltd. (b)		115		3,658
Wonik IPS Co., Ltd. (b)		727		7,037
				2,068,144
SPAIN — 1.8%
Amadeus IT Holding SA Class A		4,059		179,392
Indra Sistemas SA (a) (b)		1,626		15,312
				194,704
SWEDEN — 4.1%
Fingerprint Cards AB Class B (a) (b)		500		35,051
Hexagon AB Class B		2,757		102,947
NetEnt AB (b)		338		19,826
Telefonaktiebolaget LM Ericsson Class B		30,539		298,123
				455,947
SWITZERLAND — 1.2%
Logitech International SA		2,115		32,539
Myriad Group AG (a) (b)		1,050		2,696
STMicroelectronics NV (a)		7,558		51,437
Temenos Group AG (b)		844		43,802
				130,474
UNITED KINGDOM — 6.0%
ARM Holdings PLC		14,322		219,325
Auto Trader Group PLC (b) (c)		3,961		25,921
AVEVA Group PLC		1,040		24,802
Dialog Semiconductor PLC (b)		929		31,400
Fidessa Group PLC		319		9,418
Imagination Technologies Group PLC (a) (b)		3,019		5,940
Just Eat PLC (b)		4,410		32,090
Micro Focus International PLC		734		17,255
Moneysupermarket.com Group PLC		4,428		23,952
Pace PLC		2,184		13,979
Playtech PLC		981		12,037
Sage Group PLC		14,551		129,431
Spectris PLC		1,756		46,639
Spirent Communications PLC		10,510		11,076
Telecity Group PLC		2,559		47,335
Xaar PLC (a)		724		4,482

247

SPDR S&P International Technology Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
Zoopla Property Group PLC (c)		2,852	$	10,068
				665,150
UNITED STATES — 1.7%
Fleetmatics Group PLC (b)		287		14,577
Flextronics International, Ltd. (b)		8,902		99,791
Globant SA (a) (b)		186		6,977
Mitel Networks Corp. (b)		504		3,876
Mobileye NV (b)		1,204		50,905
REC Silicon ASA (b)		17,188		3,482
Stratasys, Ltd. (a) (b)		368		8,640
				188,248
TOTAL COMMON STOCKS (Cost $11,218,081)				10,983,377
SHORT-TERM INVESTMENTS — 10.0%
UNITED STATES — 10.0%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (d) (e)		10,201		10,201
State Street Navigator Securities Lending Prime Portfolio (d) (f)		1,098,642		1,098,642
TOTAL SHORT-TERM INVESTMENTS (Cost $1,108,843)				1,108,843
TOTAL INVESTMENTS — 109.7%
(Cost $12,326,924)				12,092,220
LIABILITIES IN EXCESS OF OTHER ASSETS — (9.7)%				(1,073,718	)
NET ASSETS — 100.0%			$	11,018,502

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. Securities, which represent 0.4% of net assets as of December 31, 2015, securities considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(e) The rate shown is the annualized seven-day yield at December 31, 2015.

(f) Investment of cash collateral for securities loaned

ADR = American Depositary Receipt

GDR = Global Depositary Receipt

248

SPDR S&P International Telecommunications Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.4%
AUSTRALIA — 4.4%
M2 Group, Ltd. (a)		16,167	$	134,561
Telstra Corp., Ltd.		272,961		1,114,105
TPG Telecom, Ltd.		23,660		170,245
Vocus Communications, Ltd. (a)		1,464		8,010
				1,426,921
BELGIUM — 1.0%
Mobistar SA (b)		303		7,350
Proximus SADP		9,402		306,402
				313,752
CANADA — 5.1%
BCE, Inc. (c)		12,817		494,993
BCE, Inc. (a) (c)		2,919		112,339
Rogers Communications, Inc. Class B		19,940		687,132
TELUS Corp.		13,314		368,132
				1,662,596
CHINA — 0.3%
Alibaba Health Information Technology, Ltd. (a) (b)		119,283		82,496
DENMARK — 0.8%
TDC A/S		54,529		272,970
FINLAND — 1.1%
Elisa Oyj		9,693		366,322
FRANCE — 5.9%
Iliad SA		1,686		402,930
Orange SA		91,092		1,532,291
				1,935,221
GERMANY — 8.9%
Deutsche Telekom AG		121,496		2,202,765
Drillisch AG		3,515		149,259
Freenet AG		9,045		307,688
Telefonica Deutschland Holding AG		43,886		233,170
				2,892,882
HONG KONG — 1.9%
HKBN, Ltd.		27,587		35,595
HKT Trust & HKT, Ltd.		260,208		332,388
PCCW, Ltd.		407,664		239,334
				607,317
ISRAEL — 1.0%
Bezeq The Israeli Telecommunication Corp., Ltd.		133,462		293,949
Cellcom Israel, Ltd. (b)		2,281		14,204
Partner Communications Co., Ltd. (b)		4,243		18,745
				326,898
ITALY — 3.7%
Infrastrutture Wireless Italiane SpA (b) (d)		2,626		14,377
Telecom Italia SpA (a) (b) (c)		741,174		946,037
Telecom Italia SpA (c)		245,359		253,473
				1,213,887
JAPAN — 20.3%
KDDI Corp. (a)		70,690		1,853,412
Nippon Telegraph & Telephone Corp.		36,794		1,479,162
NTT DOCOMO, Inc.		67,758		1,399,151
SoftBank Group Corp.		37,078		1,892,197
				6,623,922
LUXEMBOURG — 0.7%
Millicom International Cellular SA		4,202		242,482
NETHERLANDS — 2.4%
Koninklijke KPN NV		204,183		774,540
NEW ZEALAND — 1.0%
Chorus, Ltd. (b)		34,004		91,021
Spark New Zealand, Ltd.		103,564		233,970
				324,991
NORWAY — 2.2%
Telenor ASA		43,282		725,169
PORTUGAL — 0.0% (e)
Pharol SGPS SA (b)		17,221		5,070
SINGAPORE — 4.3%
Singapore Telecommunications, Ltd.		484,853		1,254,298
StarHub, Ltd. (a)		52,506		136,942
				1,391,240
SOUTH KOREA — 2.5%
KT Corp. ADR (a) (b)		16,881		201,053
LG Uplus Corp.		17,677		156,787
SK Telecom Co., Ltd. ADR		22,613		455,652
				813,492
SPAIN — 6.5%
Cellnex Telecom SAU (d)		6,759		126,581
Euskaltel SA (b) (d)		3,044		38,292
Telefonica SA		176,059		1,957,473
				2,122,346
SWEDEN — 2.9%
Com Hem Holding AB		3,645		33,205
Tele2 AB Class B		19,915		200,199
TeliaSonera AB		140,255		701,890
				935,294
SWITZERLAND — 2.5%
Sunrise Communications Group AG (b) (d)		964		56,915
Swisscom AG		1,523		765,304
				822,219
UNITED KINGDOM — 20.0%
BT Group PLC		321,591		2,235,825
Cable & Wireless Communications PLC		290,872		318,536
Inmarsat PLC		28,836		483,241
TalkTalk Telecom Group PLC (a)		35,973		115,267
Vodafone Group PLC		1,032,564		3,363,391
				6,516,260
TOTAL COMMON STOCKS (Cost $34,027,174)				32,398,287

249

SPDR S&P International Telecommunications Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
SHORT-TERM INVESTMENTS — 5.0%
UNITED STATES — 5.0%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (f) (g)		36,899	$	36,899
State Street Navigator Securities Lending Prime Portfolio (f) (h)		1,601,552		1,601,552
TOTAL SHORT-TERM INVESTMENTS (Cost $1,638,451)				1,638,451
TOTAL INVESTMENTS — 104.4%
(Cost $35,665,625)				34,036,738
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.4)%				(1,436,910	)
NET ASSETS — 100.0%			$	32,599,828

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Reflects separate holdings of the issuer’s common stock traded on different securities exchanges.

(d) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.7% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(e) Amount shown represents less than 0.05% of net assets.

(f) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(g) The rate shown is the annualized seven-day yield at December 31, 2015.

(h) Investment of cash collateral for securities loaned

ADR = American Depositary Receipt

250

SPDR S&P International Utilities Sector ETF

SCHEDULE OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Description	Shares		Value
COMMON STOCKS — 99.6%
AUSTRALIA — 4.2%
AGL Energy, Ltd.		31,901	$	419,629
APA Group		52,772		333,262
AusNet Services (a)		80,705		87,195
DUET Group (a)		95,165		157,861
Energy World Corp., Ltd. (a) (b)		37,881		6,339
ERM Power, Ltd.		7,812		8,895
Infigen Energy (b)		41,747		13,364
Spark Infrastructure Group (a)		76,192		106,432
				1,132,977
AUSTRIA — 0.4%
EVN AG		1,413		16,117
Verbund AG (a)		5,969		76,902
				93,019
BELGIUM — 0.2%
Elia System Operator SA		1,407		65,462
CANADA — 4.8%
Algonquin Power & Utilities Corp. (a)		9,511		74,699
Atco, Ltd. Class I (a)		3,509		90,182
Boralex, Inc. Class A		1,991		20,726
Canadian Utilities, Ltd. Class A		5,489		126,210
Capital Power Corp. (a)		4,241		54,253
Capstone Infrastructure Corp.		4,790		12,517
Emera, Inc.		6,946		216,166
Fortis, Inc.		13,233		356,379
Hydro One, Ltd. (b) (c)		4,206		67,491
Innergex Renewable Energy, Inc.		4,133		33,710
Just Energy Group, Inc. (a)		4,544		32,319
Northland Power, Inc. (a)		5,260		70,658
Superior Plus Corp. (a)		6,589		51,039
TransAlta Corp.		13,521		47,792
TransAlta Renewables, Inc.		2,282		17,036
Valener, Inc. (a)		1,966		25,490
				1,296,667
CHINA — 0.8%
China Everbright Water, Ltd. (a) (b)		31,900		13,829
ENN Energy Holdings, Ltd.		35,000		186,738
				200,567
FINLAND — 1.2%
Fortum Oyj		20,621		311,816
FRANCE — 9.7%
Albioma SA		1,192		19,358
Electricite de France SA		14,085		207,705
Engie SA		76,146		1,350,362
Futuren SA (b)		9,823		6,296
Rubis SCA		1,931		146,688
Suez Environnement Co.		16,801		315,011
Veolia Environnement SA		22,941		544,893
				2,590,313
GERMANY — 4.6%
CHORUS Clean Energy AG (b)		1,084		11,481
E.ON SE		94,289		914,768
RWE AG		22,789		289,889
RWE AG Preference Shares		1,838		17,846
				1,233,984
HONG KONG — 9.1%
Canvest Environmental Protection Group Co., Ltd. (a) (b)		29,000		12,610
Cheung Kong Infrastructure Holdings, Ltd.		28,300		262,181
China Ruifeng Renewable Energy Holdings, Ltd. (b)		80,000		9,909
China Water Industry Group, Ltd. (a) (b)		57,045		11,998
CLP Holdings, Ltd.		93,000		790,185
HK Electric Investments & HK Electric Investments, Ltd. (a) (c)		111,527		93,537
Hong Kong & China Gas Co., Ltd.		317,845		623,374
Kong Sun Holdings, Ltd. (b)		143,787		11,874
Power Assets Holdings, Ltd.		61,500		565,789
Towngas China Co., Ltd. (a)		45,000		26,128
United Photovoltaics Group, Ltd. (b)		164,000		15,872
				2,423,457
ITALY — 10.2%
A2A SpA		73,450		100,055
ACEA SpA		2,115		32,625
Ascopiave SpA		3,952		9,376
Edison SpA (b)		5,669		4,452
Enel Green Power SpA		73,038		149,400
Enel SpA		332,322		1,405,017
Falck Renewables SpA		6,968		8,372
Hera SpA		34,199		91,018
Iren SpA		26,674		43,174
Snam SpA		101,295		531,478
Terna Rete Elettrica Nazionale SpA		66,332		342,701
				2,717,668
JAPAN — 14.0%
Chubu Electric Power Co., Inc. (a)		34,188		472,485
Chugoku Electric Power Co., Inc. (a)		15,587		207,317
Electric Power Development Co., Ltd. (a)		8,600		309,198
Hiroshima Gas Co., Ltd.		2,100		7,698
Hokkaido Electric Power Co., Inc. (a) (b)		9,800		101,589
Hokkaido Gas Co., Ltd.		3,000		7,008
Hokuriku Electric Power Co.		9,394		140,174
K&O Energy Group, Inc.		797		11,462
Kansai Electric Power Co., Inc. (b)		38,198		463,444
Kyushu Electric Power Co., Inc. (a) (b)		22,392		247,011
Okinawa Electric Power Co., Inc.		1,200		31,373
Osaka Gas Co., Ltd.		98,958		360,640
Saibu Gas Co., Ltd. (a)		16,000		37,242
Shikoku Electric Power Co., Inc. (a)		9,800		154,786
Shizuoka Gas Co., Ltd.		3,400		21,933
Toho Gas Co., Ltd. (a)		24,000		156,615
Tohoku Electric Power Co., Inc. (a)		23,872		301,637
Tokyo Electric Power Co., Inc. (b)		37,999		220,801
Tokyo Gas Co., Ltd.		105,958		502,771
				3,755,184
NEW ZEALAND — 1.5%
Contact Energy, Ltd.		34,257		111,164
Genesis Energy, Ltd.		24,806		32,776
Infratil, Ltd.		26,655		59,762
Meridian Energy, Ltd.		57,648		94,323
Mighty River Power, Ltd.		30,498		58,043
TrustPower, Ltd.		3,244		17,323
Vector, Ltd.		12,923		28,045
				401,436

251

SPDR S&P International Utilities Sector ETF

SCHEDULE OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Security Description	Shares		Value
NORWAY — 0.0% (d)
Scatec Solar ASA (c)		2,715	$	11,963
PORTUGAL — 1.7%
EDP — Energias de Portugal SA		123,082		444,031
REN — Redes Energeticas Nacionais SGPS SA		4,715		14,249
				458,280
SINGAPORE — 0.3%
Hyflux, Ltd. (a)		32,800		13,063
Kenon Holdings, Ltd. (b)		930		9,441
Keppel Infrastructure Trust		122,738		44,124
				66,628
SOUTH KOREA — 2.2%
Busan City Gas Co., Ltd.		58		1,561
E1 Corp.		123		6,441
Hanjin Heavy Industries & Construction Holdings Co., Ltd.		683		3,501
KG Eco Technology Service Co., Ltd.		1,156		3,145
Korea District Heating Corp.		174		8,547
Korea Electric Power Corp. ADR (a) (b)		24,362		515,744
Korea Gas Corp.		1,323		41,578
KyungDong City Gas Co., Ltd.		125		9,509
Samchully Co., Ltd.		120		10,490
				600,516
SPAIN — 13.5%
Abengoa Yield PLC (a)		1,749		33,738
Acciona SA (a)		1,241		106,608
EDP Renovaveis SA		9,489		74,732
Enagas SA		10,740		303,338
Endesa SA		15,045		302,761
Gas Natural SDG SA		17,069		348,869
Iberdrola SA		280,297		1,994,388
Red Electrica Corp. SA		5,131		429,796
Saeta Yield SA		2,868		26,793
				3,621,023
SWITZERLAND — 0.2%
Alpiq Holding AG (a) (b)		247		25,885
BKW AG		547		20,765
				46,650
UNITED KINGDOM — 21.0%
Centrica PLC		240,076		771,743
Drax Group PLC (a)		19,881		71,615
National Grid PLC		185,277		2,560,123
Pennon Group PLC		19,690		249,872
Renewables Infrastructure Group, Ltd.		30,080		45,355
Severn Trent PLC		11,293		362,356
SSE PLC		46,531		1,047,934
Telecom Plus PLC (a)		3,243		51,192
United Utilities Group PLC		32,332		445,804
				5,605,994
UNITED STATES — 0.0% (d)
Atlantic Power Corp. (a)		5,767		11,375
TOTAL COMMON STOCKS (Cost $31,862,538)				26,644,979
WARRANTS — 0.0% (d)
FRANCE — 0.0% (d)
Futuren SA (expiring 6/9/16) (b) (Cost $0)		12,075		420
SHORT-TERM INVESTMENTS — 9.1%
UNITED STATES — 9.1%
State Street Institutional Liquid Reserves Fund, Premier Class 0.23% (e) (f)		5,440		5,440
State Street Navigator Securities Lending Prime Portfolio (e) (g)		2,442,741		2,442,741
TOTAL SHORT-TERM INVESTMENTS (Cost $2,448,181)				2,448,181
TOTAL INVESTMENTS — 108.7% (Cost $34,310,719)				29,093,580
LIABILITIES IN EXCESS OF OTHER ASSETS — (8.7)%				(2,329,044	)
NET ASSETS — 100.0%			$	26,764,536

(a) All or a portion of the shares of the security are on loan at December 31, 2015.

(b) Non-income producing security

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.7% of net assets as of December 31, 2015, are considered liquid based upon procedures approved by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) Amount shown represents less than 0.05% of net assets.

(e) Affiliated Fund managed by SSGA Funds Management, Inc. (see accompanying Notes to Schedules of Investments).

(f) The rate shown is the annualized seven-day yield at December 31, 2015.

(g) Investment of cash collateral for securities loaned

ADR = American Depositary Receipt

252

SPDR INDEX SHARES FUNDS

NOTES TO SCHEDULES OF INVESTMENTS

December 31, 2015 (Unaudited)

Security Valuation

Each Fund’s investments are valued at fair value each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the Fund’s listing exchange is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to policies and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board of Trustees of the Trust (the “Board”). The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for determining the fair value instruments. The members of the Committee are approved by the Board. Valuation techniques used to value each Fund’s investments by major category are as follows:

• Equity investments (including preferred stocks and registered investment companies that are exchange-traded funds) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value.

• Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value per share or unit. Money market funds generally value portfolio investments using the amortized cost method as set forth in Rule 2a-7 under the 1940 Act and in accordance with Fund procedures to stabilize net asset value.

• Rights and warrants are valued at the last reported sale price obtained from independent pricing service or brokers on the valuation date. If no prices are obtained from pricing services or brokers, valuation will be based upon the intrinsic value.

• Forward foreign currency contracts are valued based on that day’s prevailing forward exchange rate for the underlying currencies. The rates are obtained from independent pricing services in accordance with valuation policy and procedures approved by the Board.

• Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value.

In the event prices or quotations are not readily available or that application of these methods of valuation results in a price for an investment which is deemed not to be representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with valuation policy and procedures approved by the Board.

Fair value pricing could result in a difference between the prices used to calculate a Funds’ net asset value and the prices used by the Funds’ underlying indices, which in turn could result in a difference between the Funds’ performance and the performance of the Funds’ underlying indices. Various inputs are used in determining the value of Funds’ investments. These inputs are categorized into a hierarchy consisting of three broad levels for financial reporting purposes.

The Funds value its assets and liabilities at fair value using a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.

The three levels of the fair value hierarchy are as follows:

• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities;

• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for

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December 31, 2015 (Unaudited)

identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and

• Level 3 — Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments.

The following table summarizes the inputs used in valuing the Funds’ investments as of December 31, 2015:

Fund	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs		Level 3 — Significant Unobservable Inputs			Total
SPDR STOXX Europe 50 ETF	$	231,959,801	$	—	$	—		$	231,959,801
SPDR EURO STOXX 50 ETF		3,976,980,260		—		—			3,976,980,260
SPDR EURO STOXX Small Cap ETF		34,062,128		—		—			34,062,128
SPDR EURO STOXX 50 Currency Hedged ETF		8,750,069		—		—			8,750,069
SPDR S&P International Dividend Currency Hedged ETF		3,796,007		—		—			3,796,007
SPDR MSCI International Real Estate Currency Hedged ETF		3,980,414		24		—			3,980,438
SPDR S&P Emerging Asia Pacific ETF		417,571,639		933,582		183,275			418,688,496
SPDR S&P Russia ETF		22,012,286		—		—			22,012,286
SPDR S&P China ETF		945,256,572		1,809,550		1,218,133			948,284,255
SPDR MSCI China A Shares IMI ETF		2,610,662		—		—			2,610,662
SPDR S&P Emerging Markets ETF		157,375,918		170,220		25,255			157,571,393
SPDR S&P Emerging Markets Dividend ETF		256,166,231		—		—			256,166,231
SPDR S&P BRIC 40 ETF		79,656,931		—		—			79,656,931
SPDR S&P Emerging Europe ETF		36,370,547		—		—			36,370,547
SPDR S&P Emerging Latin America ETF		25,616,648		1,196		—	**		25,617,844
SPDR S&P Emerging Middle East & Africa ETF		30,977,337		—		—			30,977,337
SPDR S&P World ex-US ETF		841,674,766		27,424		—	**		841,702,190
SPDR S&P International Small Cap ETF		809,346,437		1,010,515		15,820			810,372,772
SPDR Dow Jones International Real Estate ETF		4,724,580,805		38,710		—	**		4,724,619,515
SPDR S&P Global Infrastructure ETF		67,247,232		233,315		—			67,480,547
SPDR S&P Global Natural Resources ETF		548,143,282		—		—			548,143,282
SPDR S&P North American Natural Resources ETF		690,249,301		—		—			690,249,301
SPDR MSCI ACWI ex-US ETF		811,336,557		138,495		—			811,475,052
SPDR MSCI ACWI IMI ETF		40,647,766		1,242		—			40,649,008
SPDR MSCI ACWI Low Carbon Target ETF		84,444,529		3,946		—	**		84,448,475
SPDR MSCI EM 50 ETF		4,258,780		—		—			4,258,780
SPDR MSCI EM Beyond BRIC ETF		2,413,450		—		—			2,413,450
SPDR MSCI EAFE Quality Mix ETF		5,434,457		731		—			5,435,188
SPDR MSCI Emerging Markets Quality Mix ETF		79,558,961		84,247		—	**		79,643,208
SPDR MSCI World Quality Mix ETF		5,972,194		335		—			5,972,529
SPDR MSCI Australia Quality Mix ETF		9,194,601		8,219		—			9,202,820
SPDR MSCI Canada Quality Mix ETF		11,169,718		—		—			11,169,718
SPDR MSCI Germany Quality Mix ETF		10,398,716		—		—			10,398,716
SPDR MSCI Japan Quality Mix ETF		13,127,747		—		—			13,127,747
SPDR MSCI Mexico Quality Mix ETF		2,204,950		—		—			2,204,950

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NOTES TO SCHEDULES OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Fund	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs		Level 3 — Significant Unobservable Inputs			Total
SPDR MSCI South Korea Quality Mix ETF	$	2,479,409	$	—	$	—		$	2,479,409
SPDR MSCI Spain Quality Mix ETF		2,194,981		—		—			2,194,981
SPDR MSCI Taiwan Quality Mix ETF		4,875,409		—		—			4,875,409
SPDR MSCI United Kingdom Quality Mix ETF		2,521,995		—		—			2,521,995
SPDR Russell/Nomura PRIME Japan ETF		31,706,090		—		—			31,706,090
SPDR Russell/Nomura Small Cap Japan ETF		79,621,742		—		—	**		79,621,742
SPDR S&P Global Dividend ETF		92,249,111		—		—			92,249,111
SPDR S&P International Dividend ETF		966,188,866		—		—			966,188,866
SPDR S&P International Mid Cap ETF		55,578,553		96		—	**		55,578,649
SPDR S&P Emerging Markets Small Cap ETF		348,340,267		1,104,203		2,093,611			351,538,081
SPDR Dow Jones Global Real Estate ETF		2,042,703,895		6,781		—	**		2,042,710,676
SPDR S&P International Consumer Discretionary Sector ETF		15,917,488		—		—			15,917,488
SPDR S&P International Consumer Staples Sector ETF		35,296,794		—		—	**		35,296,794
SPDR S&P International Energy Sector ETF		22,513,368		—		—	**		22,513,368
SPDR S&P International Financial Sector ETF		11,304,077		148		—	**		11,304,225
SPDR S&P International Health Care Sector ETF		71,293,822		54,587		—			71,348,409
SPDR S&P International Industrial Sector ETF		19,682,016		45,853		—			19,727,869
SPDR S&P International Materials Sector ETF		5,557,853		—		—	**		5,557,853
SPDR S&P International Technology Sector ETF		12,092,220		—		—			12,092,220
SPDR S&P International Telecommunications Sector ETF		34,036,738		—		—			34,036,738
SPDR S&P International Utilities Sector ETF		29,093,580		—		—			29,093,580

* Fund held Level 2 securities that were valued at $0 at December 31, 2015.

** Fund held Level 3 securities that were valued at $0 at December 31, 2015.

There were no material transfers between levels for the period ended December 31, 2015. The transfers that did occur were the result of fair value pricing using significant observable inputs for Level 2 securities and significant unobservable inputs for Level 3 securities.

Transactions with Affiliates

The following Funds invested in an affiliated company, State Street Corp. Amounts relating to these investments at December 31, 2015 and for the period then ended are:

	Number of Shares Held at 9/30/15		Value at 9/30/15		Purchased				Sold				Number of Shares Held at 12/31/15		Value at 12/31/15		Dividend Income		Realized Gain/(Loss)
					Cost		Shares		Proceeds		Shares
SPDR MSCI ACWI IMI ETF		619	$	41,603	$	—		—	$	—		—		619	$	41,077	$	210	$	—
SPDR MSCI ACWI Low Carbon Target ETF		1,188		79,845		—		—		—		—		1,188		78,836		404		—
SPDR MSCI World Quality Mix ETF		36		2,420		—		—		—		—		36		2,389		12		—

Each Fund may invest in certain money market funds managed by the Adviser, including the State Street Institutional Liquid Reserves Fund — Premier Class (“Liquid Reserves Fund”) and the State Street Institutional U.S. Government Money Market Fund — Premier Class (“U.S. Government Money Market Fund”), both series of State Street Institutional Investment Trust. The Liquid Reserves Fund and U.S. Government Money Market Fund are both feeder funds in a master/feeder fund structure that invests substantially all of its assets in the State Street Money Market Portfolio and State Street U.S. Government Money Market Portfolio (“Master Portfolios”), respectively, each of which is a series of the State Street Master Funds. The Liquid Reserves Fund and U.S. Government Money Market Fund do not

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December 31, 2015 (Unaudited)

pay an investment advisory fee to the Adviser, but the Master Portfolios in which they invest pay an investment advisory fee to the Adviser. The Liquid Reserves Fund and U.S. Government Money Market Fund intend to declare dividends on shares from net investment income daily and pay them as of the last business day of each month. In addition, cash collateral from lending activities is invested in State Street Navigator Securities Lending Prime Portfolio (“Prime Portfolio”), for which SSGA Funds Management, Inc. serves as the investment adviser.

Amounts related to investments in Liquid Reserves Fund, U.S. Government Money Market Fund and/or Prime Portfolio at December 31, 2015 and for the period then ended are:

Liquid Reserves Fund	Value at 9/30/15		Purchased				Sold				Value at 12/31/15		Income
			Cost		Shares		Proceeds		Shares
SPDR STOXX Europe 50 ETF	$	251,986	$	1,329,828		1,329,828	$	11,281,839		11,281,839	$	151,683	$	119
SPDR EURO STOXX 50 ETF		278,198		20,418,753		20,418,753		20,342,450		20,342,450		354,501		1,306
SPDR EURO STOXX Small Cap ETF		1,463		29,518		29,518		30,815		30,815		166		2
SPDR EURO STOXX 50 Currency Hedged ETF		113,782		2,386,811		2,386,811		2,315,572		2,315,572		185,021		69
SPDR S&P International Dividend Currency Hedged ETF		14,218		—		—		9,875		9,875		4,343		881
SPDR MSCI International Real Estate Currency Hedged ETF		2,435		662		662		—		—		3,097		152
SPDR S&P Emerging Asia Pacific ETF		144,386		16,660,782		16,660,782		16,803,789		16,803,789		1,379		1,363
SPDR S&P Russia ETF		46,732		1,989,790		1,989,790		1,968,404		1,968,404		68,118		2
SPDR S&P China ETF		8,325		22,159,759		22,159,759		21,903,399		21,903,399		264,685		410
SPDR MSCI China A Shares IMI ETF		—		12,251		12,251		11,249		11,249		1,002		10,564
SPDR S&P Emerging Markets Dividend ETF		—		23,537,128		23,537,128		23,537,128		23,537,128		—		69
SPDR S&P BRIC 40 ETF		153,764		1,232,561		1,232,561		1,386,325		1,386,325		—		102
SPDR S&P Emerging Europe ETF		—		1,987,972		1,987,972		1,987,972		1,987,972		—		27
SPDR S&P Emerging Latin America ETF		31,061		374,134		374,134		405,195		405,195		—		58
SPDR S&P Emerging Middle East & Africa ETF		149,623		2,462,670		2,462,670		2,546,778		2,546,778		65,515		796
SPDR S&P World ex-US ETF		363,149		18,200,115		18,200,115		17,586,174		17,586,174		977,090		1,113
SPDR S&P International Small Cap ETF		675,295		23,537,128		23,537,128		23,575,854		23,575,854		636,569		3,569
SPDR Dow Jones International Real Estate ETF		412,581		44,823,180		44,823,180		45,197,051		45,197,051		38,710		122
SPDR S&P Global Infrastructure ETF		48,040		1,845,983		1,845,983		1,832,881		1,832,881		61,142		947
SPDR S&P Global Natural Resources ETF		618,093		17,237,230		17,237,230		17,646,581		17,646,581		208,742		75
SPDR S&P North American Natural Resources		—		153,655		153,655		—		—		153,655		—
SPDR MSCI ACWI ex-US ETF		—		14,112,687		14,112,687		13,801,699		13,801,699		310,988		116
SPDR MSCI ACWI IMI ETF		139,125		703,006		703,006		818,137		818,137		23,994		5
SPDR MSCI ACWI Low Carbon Target ETF		147,924		1,341,188		1,341,188		1,389,317		1,389,317		99,795		3
SPDR MSCI EM 50 ETF		7,182		270,369		270,369		277,551		277,551		—		4
SPDR MSCI EM Beyond BRIC ETF		3,195		69,265		69,265		68,061		68,061		4,399		129
SPDR MSCI EAFE Quality Mix ETF		530		73,477		73,477		71,024		71,024		2,983		15
SPDR MSCI Emerging Markets Quality Mix ETF		—		3,721,523		3,721,523		3,549,160		3,549,160		172,363		14
SPDR MSCI World Quality Mix ETF		16,482		167,759		167,759		179,964		179,964		4,277		10
SPDR MSCI Australia Quality Mix ETF		1,749		245,125		245,125		1,037		1,037		245,837		—
SPDR MSCI Canada Quality Mix ETF		6,707		150,994		150,994		7,335		7,335		150,366		7
SPDR MSCI Germany Quality Mix ETF		1		8,499		8,499		8,026		8,026		474		2
SPDR MSCI Japan Quality Mix ETF		4,203		110,002		110,002		9,836		9,836		104,369		7
SPDR MSCI Mexico Quality Mix ETF		964		30,952		30,952		23,788		23,788		8,128		2
SPDR MSCI South Korea Quality Mix ETF		689		4,532		4,532		3,848		3,848		1,373		—
SPDR MSCI Spain Quality Mix ETF		328		61,000		61,000		1,832		1,832		59,496		4
SPDR MSCI Taiwan Quality Mix ETF		484		244,827		244,827		228,110		228,110		17,201		16
SPDR MSCI United Kingdom Quality Mix ETF		983		45,433		45,433		32		32		46,384		3

256

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NOTES TO SCHEDULES OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Liquid Reserves Fund	Value at 9/30/15		Purchased				Sold				Value at 12/31/15		Income
			Cost		Shares		Proceeds		Shares
SPDR Russell/Nomura PRIME Japan ETF	$	24,674	$	302,398		302,398	$	316,272		316,272	$	10,800	$	21
SPDR Russell/Nomura Small Cap Japan ETF		85,999		473,798		473,798		559,328		559,328		469		44
SPDR S&P Global Dividend ETF		47,526		1,350,865		1,350,865		1,323,248		1,323,248		75,143		111
SPDR S&P International Dividend ETF		1,284,078		22,411,224		22,411,224		23,389,587		23,389,587		305,715		1,305
SPDR S&P International Mid Cap ETF		37,447		550,364		550,364		578,656		578,656		9,155		47
SPDR S&P Emerging Markets Small Cap ETF		—		23,537,128		23,537,128		23,537,128		23,537,128		—		758
SPDR Dow Jones Global Real Estate ETF		3,964,339		40,478,139		40,478,139		41,014,890		41,014,890		3,427,588		2,780
SPDR S&P International Consumer Discretionary Sector ETF		46,679		174,879		174,879		206,339		206,339		15,219		11
SPDR S&P International Consumer Staples Sector ETF		25,992		172,334		172,334		181,792		181,792		16,534		28
SPDR S&P International Energy Sector ETF		14,517		401,717		401,717		405,769		405,769		10,465		27
SPDR S&P International Financial Sector ETF		—		327,340		327,340		275,598		275,598		51,742		19
SPDR S&P International Health Care Sector ETF		32,337		397,378		397,378		360,526		360,526		69,189		34
SPDR S&P International Industrial Sector ETF		21,793		159,096		159,096		159,721		159,721		21,168		13
SPDR S&P International Materials Sector ETF		22,679		4,652		4,652		26,646		26,646		685		10
SPDR S&P International Technology Sector ETF		11,633		97,620		97,620		99,052		99,052		10,201		7
SPDR S&P International Telecommunications Sector ETF		30,521		460,190		460,190		453,812		453,812		36,899		42
SPDR S&P International Utilities Sector ETF		—		195,772		195,772		190,332		190,332		5,440		20

Prime Portfolio	Value at 9/30/15		Purchased				Sold				Value at 12/31/15		Income
			Cost		Shares		Proceeds		Shares
SPDR EURO STOXX 50 ETF	$	29,979,227	$	568,098,713		568,098,713	$	598,077,940		598,077,940	$	—		44,393
SPDR S&P Emerging Asia Pacific ETF		24,557,557		18,963,253		18,963,253		23,122,434		23,122,434		20,398,376		15,876
SPDR S&P China ETF		100,160,856		37,860,763		37,860,763		68,581,650		68,581,650		69,439,968		58,160
SPDR S&P Emerging Markets ETF		12,858,812		10,079,096		10,079,096		16,672,461		16,672,461		6,265,447		6,501
SPDR S&P Emerging Markets Dividend ETF		17,309,750		30,350,224		30,350,224		32,883,914		32,883,914		14,776,060		12,844
SPDR S&P BRIC 40 ETF		2,786,086		4,626,665		4,626,665		6,443,122		6,443,122		969,629		1,265
SPDR S&P Emerging Europe ETF		47,805		1,076,629		1,076,629		888,891		888,891		235,544		74
SPDR S&P Emerging Latin America ETF		1,984,900		4,856,697		4,856,697		5,767,310		5,767,310		1,074,287		1,600
SPDR S&P Emerging Middle East & Africa ETF		4,837,997		2,779,938		2,779,938		6,754,034		6,754,034		863,901		1,306
SPDR S&P World ex-US ETF		49,401,027		54,357,657		54,357,657		61,891,614		61,891,614		41,867,070		29,161
SPDR S&P International Small Cap ETF		123,921,999		41,469,849		41,469,849		42,365,901		42,365,901		123,025,946		75,040
SPDR Dow Jones International Real Estate ETF		77,123,206		489,241,853		489,241,853		391,245,387		391,245,387		175,119,672		69,432
SPDR S&P Global Infrastructure ETF		5,589,364		20,759,334		20,759,334		20,873,105		20,873,105		5,475,594		3,750
SPDR S&P Global Natural Resources ETF		52,819,846		121,760,968		121,760,968		133,354,269		133,354,269		41,226,545		25,587
SPDR MSCI ACWI ex-US ETF		38,237,835		53,876,089		53,876,089		62,302,085		62,302,085		29,811,839		20,809
SPDR MSCI ACWI IMI ETF		6,738,898		10,389,935		10,389,935		12,882,483		12,882,483		4,246,350		3,084
SPDR MSCI EM 50 ETF		428,141		781,873		781,873		746,844		746,844		463,170		257
SPDR MSCI EM Beyond BRIC ETF		97,002		124,162		124,162		138,972		138,972		82,192		51
SPDR Russell/Nomura PRIME Japan ETF		4,865,671		5,779,398		5,779,398		6,912,382		6,912,382		3,732,688		2,157
SPDR Russell/Nomura Small Cap Japan ETF		14,662,395		10,688,199		10,688,199		11,340,942		11,340,942		14,009,652		9,170
SPDR S&P Global Dividend ETF		10,950,786		26,971,864		26,971,864		22,262,401		22,262,401		15,660,249		8,449
SPDR S&P International Dividend ETF		153,680,936		162,906,774		162,906,774		194,952,273		194,952,273		121,635,437		95,744
SPDR S&P International Mid Cap ETF		6,425,112		8,623,437		8,623,437		7,790,912		7,790,912		7,257,636		4,925
SPDR S&P Emerging Markets Small Cap ETF		31,737,344		17,935,327		17,935,327		20,892,333		20,892,333		28,780,339		4,925
SPDR Dow Jones Global Real Estate ETF		20,157,461		138,710,137		138,710,137		131,363,444		131,363,444		27,504,155		14,365
SPDR S&P International Consumer Discretionary Sector ETF		2,025,769		3,439,173		3,439,173		4,364,555		4,364,555		1,100,387		1,078
SPDR S&P International Consumer Staples Sector ETF		3,446,144		4,846,714		4,846,714		5,958,014		5,958,014		2,334,844		1,620
SPDR S&P International Energy Sector ETF		3,434,341		6,329,061		6,329,061		7,627,784		7,627,784		2,135,618		1,675

257

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NOTES TO SCHEDULES OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

Prime Portfolio	Value at 9/30/15		Purchased				Sold				Value at 12/31/15		Income
			Cost		Shares		Proceeds		Shares
SPDR S&P International Financial Sector ETF	$	1,200,411	$	1,890,601		1,890,601	$	2,396,842		2,396,842	$	694,170	$	496
SPDR S&P International Health Care Sector ETF		6,462,640		5,810,147		5,810,147		8,945,813		8,945,813		3,326,974		2,839
SPDR S&P International Industrial Sector ETF		1,026,410		3,715,297		3,715,297		3,156,859		3,156,859		1,584,848		1,025
SPDR S&P International Materials Sector ETF		620,519		1,018,644		1,018,644		1,057,121		1,057,121		582,042		390
SPDR S&P International Technology Sector ETF		1,359,852		2,733,628		2,733,628		2,994,838		2,994,838		1,098,642		979
SPDR S&P International Telecommunications Sector ETF		1,591,584		13,630,539		13,630,539		13,620,571		13,620,571		1,601,552		1,101
SPDR S&P International Utilities Sector ETF		2,439,082		7,218,579		7,218,579		7,214,920		7,214,920		2,442,741		1,693

U.S. Government Money Market Fund	Value at 9/30/15		Purchased				Sold				Value at 12/31/15		Income		Realized Gain/ (Loss)
			Cost		Shares		Proceeds		Shares
SPDR S&P Emerging Markets ETF	$	258,144	$	23,537,128		23,537,128	$	23,795,272		23,795,272	$	—	$	74	$	—
SPDR MSCI ACWI ex-US ETF		756,698		14,112,980		14,112,980		14,558,690		14,558,690		310,988		232		—

Aggregate Unrealized Appreciation and Depreciation

The identified cost of investments in securities owned by each Fund for federal income tax purposes and the gross unrealized appreciation and depreciation at December 31, 2015 was as follows:

	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Net Unrealized Appreciation (Depreciation)
SPDR STOXX Europe 50 ETF	$	268,635,101	$	4,489,843	$	41,165,143	$	(36,675,300	)
SPDR EURO STOXX 50 ETF		4,428,915,637		150,831,358		602,766,735		(451,935,377	)
SPDR EURO STOXX Small Cap ETF		34,503,931		1,277,352		1,719,155		(441,803	)
SPDR EURO STOXX 50 Currency Hedged ETF		9,458,546		—		708,477		(708,477	)
SPDR S&P International Dividend Currency Hedged ETF		4,017,661		—		221,654		(221,654	)
SPDR MSCI International Real Estate Currency Hedged ETF		3,921,247		144,966		85,775		59,191
SPDR S&P Emerging Asia Pacific ETF		448,327,265		52,434,169		82,072,938		(29,638,769	)
SPDR S&P Russia ETF		37,574,890		87,570		15,650,174		(15,562,604	)
SPDR S&P China ETF		1,015,980,779		116,098,360		183,794,884		(67,696,524	)
SPDR MSCI China A Shares IMI ETF		2,506,376		187,255		82,969		104,286
SPDR S&P Emerging Markets ETF		209,560,800		16,517,515		68,506,922		(51,989,407	)
SPDR S&P Emerging Markets Dividend ETF		355,683,304		7,700,089		107,217,162		(99,517,073	)
SPDR S&P BRIC 40 ETF		98,071,887		8,615,420		27,030,376		(18,414,956	)
SPDR S&P Emerging Europe ETF		79,011,172		522,227		43,162,852		(42,640,625	)
SPDR S&P Emerging Latin America ETF		57,972,602		1,823,506		34,178,264		(32,354,758	)
SPDR S&P Emerging Middle East & Africa ETF		46,762,504		5,247,841		21,033,008		(15,785,167	)
SPDR S&P World ex-US ETF		871,483,904		86,133,389		115,915,103		(29,781,714	)
SPDR S&P International Small Cap ETF		913,230,315		84,675,067		187,532,610		(102,857,543	)
SPDR Dow Jones International Real Estate ETF		4,463,372,463		512,567,028		251,319,975		261,247,053
SPDR S&P Global Infrastructure ETF		79,089,233		2,101,939		13,710,625		(11,608,686	)
SPDR S&P Global Natural Resources ETF		767,264,908		7,692,365		226,813,991		(219,121,626	)
SPDR S&P North American Natural Resources		677,489,830		15,891,711		3,132,240		12,759,471
SPDR MSCI ACWI ex-US ETF		930,359,328		48,303,807		167,188,083		(118,884,276	)
SPDR MSCI ACWI IMI ETF		43,525,583		2,431,849		5,308,424		(2,876,575	)
SPDR MSCI ACWI Low Carbon Target ETF		87,669,749		5,335,673		8,556,947		(3,221,274	)

258

SPDR INDEX SHARES FUNDS

NOTES TO SCHEDULES OF INVESTMENTS (continued)

December 31, 2015 (Unaudited)

	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Net Unrealized Appreciation (Depreciation)
SPDR MSCI EM 50 ETF	$	5,001,903	$	104,133	$	847,256	$	(743,123	)
SPDR MSCI EM Beyond BRIC ETF		3,091,900		98,461		776,911		(678,450	)
SPDR MSCI EAFE Quality Mix ETF		5,918,360		283,834		767,006		(483,172	)
SPDR MSCI Emerging Markets Quality Mix ETF		90,031,662		2,120,292		12,508,746		(10,388,454	)
SPDR MSCI World Quality Mix ETF		5,979,576		561,170		568,217		(7,047	)
SPDR MSCI Australia Quality Mix ETF		9,828,310		196,343		821,833		(625,490	)
SPDR MSCI Canada Quality Mix ETF		12,529,756		83,565		1,443,603		(1,360,038	)
SPDR MSCI Germany Quality Mix ETF		11,133,397		443,188		1,177,869		(734,681	)
SPDR MSCI Japan Quality Mix ETF		12,770,314		1,020,929		663,496		357,433
SPDR MSCI Mexico Quality Mix ETF		3,002,292		31,055		828,397		(797,342	)
SPDR MSCI South Korea Quality Mix ETF		2,938,249		92,162		551,002		(458,840	)
SPDR MSCI Spain Quality Mix ETF		3,033,087		41,949		880,055		(838,106	)
SPDR MSCI Taiwan Quality Mix ETF		5,874,098		74,609		1,073,298		(998,689	)
SPDR MSCI United Kingdom Quality Mix ETF		2,974,479		36,684		489,168		(452,484	)
SPDR Russell/Nomura PRIME Japan ETF		34,263,286		2,125,764		4,682,960		(2,557,196	)
SPDR Russell/Nomura Small Cap Japan ETF		81,611,817		8,059,789		10,049,864		(1,990,075	)
SPDR S&P Global Dividend ETF		103,126,900		2,090,945		12,968,734		(10,877,789	)
SPDR S&P International Dividend ETF		1,163,664,909		40,110,749		237,586,792		(197,476,043	)
SPDR S&P International Mid Cap ETF		56,810,125		3,847,926		5,079,402		(1,231,476	)
SPDR S&P Emerging Markets Small Cap ETF		486,868,003		35,088,511		170,418,433		(135,329,922	)
SPDR Dow Jones Global Real Estate ETF		1,903,079,971		225,632,654		86,001,949		139,630,705
SPDR S&P International Consumer Discretionary Sector ETF		16,803,678		1,204,362		2,090,552		(886,190	)
SPDR S&P International Consumer Staples Sector ETF		36,767,624		1,591,762		3,062,592		(1,470,830	)
SPDR S&P International Energy Sector ETF		34,035,010		105,080		11,626,722		(11,521,642	)
SPDR S&P International Financial Sector ETF		13,424,212		150,073		2,270,060		(2,119,987	)
SPDR S&P International Health Care Sector ETF		66,055,263		7,658,695		2,365,549		5,293,146
SPDR S&P International Industrial Sector ETF		21,798,394		1,167,576		3,238,100		(2,070,524	)
SPDR S&P International Materials Sector ETF		9,890,813		298,412		4,631,372		(4,332,960	)
SPDR S&P International Technology Sector ETF		12,326,924		1,988,488		2,223,192		(234,704	)
SPDR S&P International Telecommunications Sector ETF		35,665,625		2,937,213		4,566,100		(1,628,887	)
SPDR S&P International Utilities Sector ETF		34,310,719		1,030,757		6,247,896		(5,217,139	)

Other information regarding the Funds is available in the Funds’ most recent Report to Shareholders. This information is also available on the Funds’ website at www.spdrs.com as well as on the website of the U.S. Securities and Exchange Commission at www.sec.gov.

259

Item 2. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (“Investment Company Act”)) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) The registrant’s principal executive officer and principal financial officer are aware of no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

The certifications required by Rule 30a-2(a) under the Investment Company Act are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SPDR^® Index Shares Funds

By:	/s/ Ellen M. Needham
	Ellen M. Needham
	President

Date: February 26, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/s/ Ellen M. Needham
	Ellen M. Needham
	President (Principal Executive Officer)
By:	/s/ Bruce S. Rosenberg
	Bruce S. Rosenberg
	Treasurer (Principal Financial Officer)

Date: February 26, 2016