FWP 1 d299875dfwp.htm SPDR ETF TRADING REPORT

Filed Pursuant To Rule 433

Registration No. 333-209926

December 22, 2016

SPDR® ETF Trading Report
November 2016
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
US Core
SPY SPDR S&P 500® ETF 0.01 0.00 0.01 98,753,539 22,583,314,463 96,861,429 15,376 15,376 3,319,832 22,583,314,463 261 0.50 242,139,501
MDY SPDR S&P MidCap 400® ETF 0.06 0.02 0.05 1,639,261 499,206,489 1,379,076 1,843 1,843 526,471 499,206,489 128 0.70 2,900,864
SLY SPDR S&P 600 Small Cap ETF 0.37 0.32 0.28 30,958 3,974,629 23,240 2,975 2,975 345,874 3,974,629 132 1.00 42,155
DIA SPDR Dow Jones Industrial Average ETF Trust 0.02 0.00 0.01 3,951,351 764,316,217 3,447,338 1,584 1,584 295,717 764,316,217 139 0.50 7,676,012
THRK SPDR Russell 3000 ETF 0.66 0.40 0.52 4,782 891,794 11,455 2,105 2,105 339,116 891,794 66 0.50 2,179
TWOK SPDR Russell 2000® ETF 0.27 0.36 0.22 20,785 1,649,538 25,415 5,140 5,140 386,425 1,649,538 152 0.90 5,750
ONEK SPDR Russell 1000 ETF 0.49 0.48 0.34 5,504 780,079 4,775 2,884 2,884 293,908 780,079 107 0.40 7,069
SMD SPDR S&P 1000 ETF 0.63 0.74 0.48 6,438 597,458 22,502 984 984 83,492 597,458 136 0.90 912
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.19 0.36 0.13 4,036 249,754 6,262 16,394 16,394 857,570 249,754 134 0.50 2,059
SHE SPDR SSGA Gender Diversity Index ETF 0.08 0.12 0.07 1,035 101,822 1,167 7,113 7,113 457,224 101,822 131 0.60 1,573
US Style
SPYG SPDR S&P 500 Growth ETF 0.26 0.24 0.22 31,138 3,524,448 24,131 3,398 3,398 352,135 3,524,448 131 0.60 24,092
SPYV SPDR S&P 500 Value ETF 0.23 0.21 0.17 12,472 1,466,818 9,755 2,921 2,921 306,676 1,466,818 106 0.60 8,309
MDYG SPDR S&P 400 Mid Cap Growth ETF 0.39 0.31 0.34 19,087 2,622,303 19,516 2,910 2,910 367,970 2,622,303 82 0.70 19,168
MDYV SPDR S&P 400 Mid Cap Value ETF 0.30 0.34 0.24 39,516 3,751,517 34,632 5,676 5,676 509,080 3,751,517 138 0.70 24,944
SLYG SPDR S&P 600 Small Cap Growth ETF 0.70 0.36 0.51 23,690 4,968,926 21,636 2,511 2,511 486,908 4,968,926 100 1.00 16,950
SLYV SPDR S&P 600 Small Cap Value ETF 0.33 0.30 0.24 53,308 6,286,317 44,157 2,413 2,413 271,824 6,286,317 143 1.00 23,404
US Sector
XLY Consumer Discretionary Select Sector SPDR Fund 0.01 0.01 0.01 6,850,990 717,098,025 5,968,462 8,593 8,593 681,253 717,098,025 176 0.60 20,561,027
XLP Consumer Staples Select Sector SPDR Fund 0.01 0.01 0.01 17,530,592 1,033,338,603 14,860,504 46,466 46,466 2,379,989 1,033,338,603 432 0.70 71,839,502
XLE Energy Select Sector SPDR Fund 0.01 0.01 0.01 17,536,455 1,404,755,708 16,412,511 7,328 7,328 518,603 1,404,755,708 169 1.20 33,417,249
XLF Financial Select Sector SPDR Fund 0.01 0.04 0.01 108,901,451 2,469,357,301 71,263,204 916,397 916,397 19,693,372 2,469,357,301 1,530 1.00 95,594,568
XLV Health Care Select Sector SPDR Fund 0.01 0.01 0.01 15,462,318 1,275,165,429 11,220,486 12,598 12,598 869,388 1,275,165,429 215 0.90 28,747,654
XLI Industrial Select Sector SPDR Fund 0.01 0.01 0.01 15,811,607 1,105,317,879 12,377,039 22,870 22,870 1,376,317 1,105,317,879 320 0.70 29,976,770
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
STATE STREET GLOBAL ADVISORS®
SPDR®

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
US Sector (cont’d)
XLB Materials Select Sector SPDR Fund 0.01 0.02 0.01 6,638,028 359,877,888 5,579,418 20,547 20,547 987,489 359,877,888 256 0.60 18,775,415
XLK Technology Select Sector SPDR Fund 0.01 0.02 0.01 12,197,909 675,421,405 10,314,725 49,645 49,645 2,334,804 675,421,405 446 0.70 29,054,675
XLU Utilities Select Sector SPDR Fund 0.01 0.02 0.01 21,254,918 1,054,996,194 18,268,927 18,306 18,306 863,677 1,054,996,194 301 1.20 68,185,659
XLRE Real Estate Select Sector SPDR Fund 0.01 0.03 0.01 2,463,211 81,118,889 2,466,496 32,980 32,980 988,081 81,118,889 337 1.00 4,566,289
US Industry
KBE SPDR S&P Bank ETF 0.01 0.03 0.01 5,370,329 213,462,276 3,896,401 9,705 9,705 373,060 213,462,276 221 1.40 3,312,966
KCE SPDR S&P Capital Markets ETF 0.11 0.24 0.08 11,332 558,925 8,992 8,217 8,217 350,619 558,925 234 1.00 11,702
KIE SPDR S&P Insurance ETF 0.05 0.06 0.04 175,741 14,236,337 122,804 2,693 2,693 212,855 14,236,337 173 0.70 992,388
KRE SPDR S&P Regional Banking ETF 0.01 0.02 0.01 10,000,984 504,506,162 6,940,373 6,142 6,142 299,914 504,506,162 189 1.40 16,841,310
XBI SPDR S&P Biotech ETF 0.04 0.05 0.03 8,647,236 574,500,334 6,681,455 1,170 1,170 73,160 574,500,334 158 2.50 25,938,405
MTK SPDR Morgan Stanley Technology ETF 0.24 0.40 0.18 37,174 2,297,558 25,512 2,384 2,384 142,635 2,297,558 146 0.70 8,039
XHB SPDR S&P Homebuilders ETF 0.01 0.03 0.01 2,843,007 98,040,166 2,520,407 12,177 12,177 399,893 98,040,166 196 0.90 12,740,690
XME SPDR S&P Metals & Mining ETF 0.01 0.04 0.01 6,059,860 194,357,988 4,967,618 5,631 5,631 162,736 194,357,988 184 1.70 11,452,295
XES SPDR S&P Oil & Gas Equipment & Services ETF 0.02 0.11 0.01 550,818 10,610,135 455,220 5,069 5,069 96,007 10,610,135 220 2.10 770,417
XITK SPDR FactSet Innovative Technology ETF 0.07 0.12 0.08 536 54,897 2,020 504 504 30,406 54,897 78 1.10 11,781
XOP SPDR S&P Oil & Gas Exploration & Production ETF 0.01 0.02 0.01 20,825,410 834,973,760 18,940,972 9,260 9,260 350,584 834,973,760 198 2.00 65,187,179
XPH SPDR S&P Pharmaceuticals ETF 0.05 0.11 0.04 367,198 15,203,485 209,210 4,760 4,760 191,447 15,203,485 194 1.60 977,065
XRT SPDR S&P Retail ETF 0.01 0.02 0.01 5,632,577 263,222,617 3,992,080 6,015 6,015 267,668 263,222,617 161 1.10 22,530,064
XSD SPDR S&P Semiconductor ETF 0.05 0.09 0.04 142,428 7,663,983 114,371 2,729 2,729 143,218 7,663,983 210 0.90 1,365,073
XHE SPDR S&P Health Care Equipment ETF 0.21 0.42 0.17 34,125 1,939,864 38,299 2,867 2,867 139,279 1,939,864 411 0.90 24,039
XTL SPDR S&P Telecom ETF 0.16 0.23 0.16 12,994 921,535 9,923 2,407 2,407 160,475 921,535 186 0.80 6,982
XAR SPDR S&P Aerospace & Defense ETF 0.08 0.13 0.08 325,238 20,794,631 122,828 3,798 3,798 236,312 20,794,631 224 0.90 1,000,880
XHS SPDR S&P Health Care Services ETF 0.07 0.13 0.06 31,070 1,640,168 22,691 5,715 5,715 287,407 1,640,168 196 1.10 27,794
XSW SPDR S&P Software & Services ETF 0.13 0.23 0.11 5,518 372,979 3,596 2,297 2,297 127,047 372,979 226 0.60 1,524
XTH SPDR S&P Technology Hardware ETF 0.42 0.68 0.33 104 19,579 167 5,554 5,554 344,570 19,579 46 1.40 630
XTN SPDR S&P Transportation ETF 0.06 0.11 0.05 111,165 5,895,185 58,037 2,142 2,142 110,784 5,895,185 219 0.90 172,506
XWEB SPDR S&P Internet ETF 0.16 0.27 0.18 136 12,880 267 3,373 3,373 197,354 12,880 11 1.70 9,910
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
State Street Global Advisors 2

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
Real Estate Equities
RWR SPDR Dow Jones REIT ETF 0.06 0.06 0.05 435,845 40,524,590 365,994 1,975 1,975 176,723 40,524,590 137 1.00 184,162
RWO SPDR Dow Jones Global Real Estate ETF 0.04 0.09 0.04 365,458 17,359,164 308,697 1,020 1,020 46,379 17,359,164 134 0.70 199,285
RWX SPDR Dow Jones International Real Estate ETF 0.01 0.03 0.01 818,068 34,272,606 684,345 7,289 7,289 277,128 34,272,606 324 0.70 1,428,481
Global Equities
DGT SPDR Global Dow ETF 0.20 0.29 0.22 1,687 178,494 1,786 374 374 25,297 178,494 118 0.50 12,837
GII SPDR S&P Global Infrastructure ETF 0.16 0.35 0.13 17,011 849,160 15,905 352 352 15,699 849,160 162 0.90 9,542
GNR SPDR S&P Global Natural Resources ETF 0.07 0.17 0.05 148,927 6,055,605 193,237 1,597 1,597 63,704 6,055,605 348 0.70 180,849
CWI SPDR MSCI ACWI ex-US ETF 0.02 0.05 0.02 344,345 12,028,020 240,031 5,782 5,782 180,861 12,028,020 265 0.70 13,647
ACIM SPDR MSCI ACWI IMI ETF 1.41 2.17 1.21 3,434 283,316 3,878 994 994 64,560 283,316 60 1.10 7,631
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.54 0.90 0.38 749 59,997 16,865 1,300 1,300 77,519 59,997 62 0.90 1,250
GWL SPDR S&P World ex-US ETF 0.03 0.12 0.03 86,993 2,254,322 106,447 4,014 4,014 102,477 2,254,322 369 0.60 19,268
GWX SPDR S&P International Small Cap ETF 0.05 0.16 0.04 127,154 3,995,013 111,829 1,143 1,143 34,244 3,995,013 250 0.50 34,757
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.06 0.08 0.05 567 60,983 543 1,016 1,016 74,717 60,983 80 0.60 —
International Developed Equities — Region/Country
FEZ SPDR EURO STOXX 50 ETF 0.01 0.03 0.01 2,166,246 0 1,946,970 58,365 58,365 0 0 468 0.80 1,379,156
FEU SPDR STOXX Europe 50 ETF 0.03 0.11 0.03 73,043 2,188,704 59,869 1,565 1,565 45,009 2,188,704 260 0.70 9,476
SMEZ SPDR EURO STOXX Small Cap ETF 0.10 0.23 0.13 1,651 104,936 2,317 765 765 34,188 104,936 147 0.70 7,821
HFEZ SPDR EURO STOXX 50 Currency Hedged ETF 0.12 0.35 0.12 4,599 233,714 2,675 1,710 1,710 56,413 233,714 273 0.70 1,474
HDWX SPDR S&P International Dividend Currency Hedged 0.29 0.70 0.31 568 34,479 1,418 358 358 14,567 34,479 85 1.10 842
ETF
Emerging Market Equities
GMM SPDR S&P Emerging Markets ETF 0.25 0.42 0.24 39,197 2,354,338 41,352 577 577 33,449 2,354,338 108 1.20 15,522
GML SPDR S&P Emerging Latin America ETF 0.39 0.85 0.32 2,951 170,239 2,000 270 270 12,309 170,239 76 1.90 1,466
GAF SPDR S&P Emerging Middle East & Africa ETF 2.13 3.80 1.19 979 90,354 981 274 274 15,021 90,354 18 1.90 1,186
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
State Street Global Advisors 3

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
Emerging Market Equities (cont’d)
GUR SPDR S&P Emerging Europe ETF 0.21 0.82 0.18 4,787 158,719 6,206 689 689 17,666 158,719 91 0.80 5,793
GMF SPDR S&P Emerging Asia Pacific ETF 0.19 0.24 0.16 24,427 2,060,866 24,212 557 557 43,880 2,060,866 116 0.90 6,541
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves 0.65 1.24 0.40 349 27,799 3,952 1,069 1,069 56,475 27,799 82 1.40 900
Free ETF
EWX SPDR S&P Emerging Markets Small Cap ETF 0.12 0.29 0.07 101,328 4,607,802 102,458 765 765 31,625 4,607,802 149 0.90 99,183
GXC SPDR S&P China ETF 0.16 0.20 0.09 57,826 4,824,822 85,217 763 763 58,034 4,824,822 93 0.90 18,693
RBL SPDR S&P Russia ETF 0.09 0.52 0.09 6,281 143,934 7,264 997 997 17,956 143,934 137 1.20 7,482
XINA SPDR MSCI China A Shares IMI ETF 0.27 1.22 0.24 28 1,842 210 162 162 3,580 1,842 0 0.70 200
International Sector Equities
IPD SPDR S&P International Consumer Discretionary 0.28 0.79 0.23 692 43,658 858 387 387 13,657 43,658 43 0.50 18
Sector ETF
IPS SPDR S&P International Consumer Staples 0.23 0.57 0.22 4,814 227,342 5,858 505 505 19,912 227,342 193 0.70 69
Sector ETF
IPW SPDR S&P International Energy Sector ETF 0.08 0.44 0.07 16,818 307,798 22,599 500 500 8,715 307,798 193 1.10 37,416
IPF SPDR S&P International Financial Sector ETF 0.61 3.19 0.31 3,255 74,170 3,846 1,053 1,053 19,975 74,170 136 1.10 8,180
IRY SPDR S&P International Health Care Sector ETF 0.13 0.30 0.11 5,378 280,398 5,835 779 779 33,606 280,398 129 0.80 570
IPN SPDR S&P International Industrial Sector ETF 0.13 0.45 0.10 5,097 170,346 5,778 1,193 1,193 34,931 170,346 98 0.50 13,160
IRV SPDR S&P International Materials Sector ETF 0.17 0.85 0.20 5,106 111,289 7,879 906 906 17,866 111,289 40 0.80 1,041
IPK SPDR S&P International Technology Sector ETF 0.29 0.88 0.28 3,903 152,335 3,458 1,058 1,058 34,618 152,335 106 0.80 394
IST SPDR S&P International Telecommunications 0.09 0.38 0.07 5,538 150,661 5,413 1,039 1,039 23,440 150,661 192 0.80 7,578
Sector ETF
IPU SPDR S&P International Utilities Sector ETF 0.06 0.41 0.05 7,580 0 7,939 1,225 1,225 0 0 219 0.90 13,443
Advanced Beta — Income
EDIV SPDR S&P Emerging Markets Dividend ETF 0.06 0.21 0.05 111,880 3,031,825 79,016 902 902 23,668 3,031,825 367 1.20 201,932
DWX SPDR S&P International Dividend ETF 0.04 0.11 0.04 214,563 7,816,521 154,763 1,140 1,140 40,481 7,816,521 199 0.90 133,546
SDY SPDR S&P Dividend ETF 0.03 0.03 0.02 1,050,745 91,340,826 896,878 3,016 3,016 251,625 91,340,826 240 0.50 1,213,422
WDIV SPDR S&P Global Dividend ETF 0.08 0.13 0.08 16,265 1,076,532 13,042 591 591 35,507 1,076,532 146 0.70 14,308
SPYD SPDR S&P 500 High Dividend ETF 0.06 0.16 0.05 46,504 1,731,355 27,525 20,560 20,560 704,386 1,731,355 314 0.60 39,804
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
State Street Global Advisors 4

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
Advanced Beta - Multi Factor
QAUS SPDR MSCI Australia StrategicFactors ETF 0.06 0.11 0.05 4,772 266,924 4,442 988 988 47,384 266,924 151 0.90 110
QCAN SPDR MSCI Canada StrategicFactors ETF 0.06 0.10 0.06 1,042 92,069 930 821 821 42,782 92,069 112 0.70 893
QDEU SPDR MSCI Germany StrategicFactors ETF 0.06 0.12 0.06 681 58,441 1,044 902 902 44,748 58,441 101 0.70 1,216
QJPN SPDR MSCI Japan StrategicFactors ETF 0.24 0.36 0.25 719 65,905 1,100 412 412 27,431 65,905 75 0.40 730
QESP SPDR MSCI Spain StrategicFactors ETF 0.05 0.11 0.05 286 18,436 141 1,004 1,004 40,421 18,436 84 1.70 150
QGBR SPDR MSCI United Kingdom StrategicFactors ETF 0.18 0.40 0.17 183 12,878 201 722 722 32,844 12,878 18 0.80 1
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.21 0.40 0.29 1,997 130,477 1,981 240 240 12,629 130,477 70 0.70 2,572
QWLD SPDR MSCI World StrategicFactors ETF 0.43 0.68 0.51 227 30,749 180 348 348 21,600 30,749 24 0.40 1,467
QEMM SPDR MSCI Emerging Markets 0.46 0.90 0.39 8,829 611,918 10,291 851 851 43,750 611,918 110 1.10 162,701
StrategicFactors ETF
QUS SPDR MSCI USA StrategicFactors ETF 0.14 0.21 0.13 1,112 110,846 1,802 908 908 57,313 110,846 109 0.40 322
Advanced Beta - Single Factor
SPYB SPDR S&P 500 Buyback ETF 0.08 0.15 0.07 564 45,495 862 9,036 9,036 468,336 45,495 63 1.00 180
VLU SPDR S&P 1500 Value Tilt ETF 0.67 0.79 0.64 533 71,981 327 3,626 3,626 308,065 71,981 15 0.90 2,817
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.26 0.28 0.38 507 60,275 471 2,018 2,018 184,990 60,275 41 0.80 1,024
LGLV SPDR SSGA US Large Cap Low Volatility 0.57 0.73 0.53 5,477 522,140 6,852 815 815 63,945 522,140 132 0.50 9,775
Index ETF
SMLV SPDR SSGA US Small Cap Low Volatility 0.37 0.42 0.32 25,202 2,466,779 15,645 2,590 2,590 227,868 2,466,779 271 0.90 5,175
Index ETF
ONEY SPDR Russell 1000 Yield Focus ETF 0.29 0.43 0.27 380 56,026 172 4,764 4,764 322,094 56,026 47 0.90 4,047
ONEO SPDR Russell 1000 Momentum Focus ETF 0.22 0.35 0.25 2,096 172,584 2,172 3,746 3,746 236,672 172,584 152 0.70 20,784
ONEV SPDR Russell 1000 Low Volatility Focus ETF 0.26 0.40 0.22 9,307 670,476 6,234 7,252 7,252 478,342 670,476 83 0.70 63,636
Advanced Beta - Fixed Income
CBND SPDR Bloomberg Barclays Issuer Scored Corporate 0.23 0.72 0.15 8,727 319,821 7,615 707 707 22,659 319,821 200 0.40 33,445
Bond ETF
Fixed Income - US Government
BIL SPDR Bloomberg Barclays 1–3 Month T-Bill ETF 0.01 0.02 0.01 1,299,318 62,221,559 952,656 1,822,346 1,822,346 83,335,883 62,221,559 1,840 0.00 804,060
ITE SPDR Bloomberg Barclays Intermediate Term 0.06 0.10 0.05 38,765 2,507,407 55,301 2,751 2,751 165,638 2,507,407 193 0.10 35,120
Treasury ETF
TLO SPDR Bloomberg Barclays Long Term Treasury ETF 0.10 0.13 0.08 150,727 11,560,095 96,352 1,543 1,543 111,790 11,560,095 175 0.80 6,900
IPE SPDR Bloomberg Barclays TIPS ETF 0.07 0.12 0.06 50,730 3,179,703 39,124 2,583 2,583 146,973 3,179,703 262 0.20 26,780
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
State Street Global Advisors 5

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
Fixed Income - US Government (cont’d)
SST SPDR Bloomberg Barclays Short Term Treasury ETF 0.03 0.11 0.08 92,027 2,853,276 64,002 11,719 11,719 355,320 2,853,276 539 0.10 7,070
SIPE SPDR Bloomberg Barclays 0–5 Year TIPS ETF 0.15 0.75 0.13 1,864 61,805 1,590 1,316 1,316 25,952 61,805 81 0.30 1,711
TIPX SPDR Bloomberg Barclays 1–10 Year TIPS ETF 0.06 0.29 0.06 11,885 261,482 9,587 600 600 11,754 261,482 155 0.20 60,517
Fixed Income - US Investment Grade Corporates
SCPB SPDR Bloomberg Barclays Short Term Corporate Bond 0.01 0.03 0.01 1,522,777 47,169,915 880,523 31,399 31,399 960,495 47,169,915 500 0.10 180,664
ETF
ITR SPDR Bloomberg Barclays Intermediate Term Corporate 0.03 0.08 0.02 434,257 15,190,808 348,667 2,252 2,252 76,906 15,190,808 238 0.20 202,302
Bond ETF
LWC SPDR Bloomberg Barclays Long Term Corporate Bond ET 0.17 0.42 0.13 48,961 2,086,726 50,719 529 529 21,160 2,086,726 156 0.50 11,227
FLRN SPDR Bloomberg Barclays Investment Grade Floating 0.04 0.13 0.03 106,423 3,442,761 91,963 1,570 1,570 48,121 3,442,761 163 0.10 135,746
Rate ETF
Fixed Income - High Yield
JNK SPDR Bloomberg Barclays High Yield Bond ETF 0.01 0.02 0.01 15,403,440 607,213,568 12,457,056 69,341 69,341 2,486,568 607,213,568 503 0.60 23,640,916
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond 0.01 0.03 0.01 2,318,429 64,866,301 1,717,630 20,326 20,326 554,290 64,866,301 333 0.40 675,561
ETF
CJNK SPDR BofA Merrill Lynch Crossover Corporate Bond ETF 0.31 1.21 0.26 14,398 416,049 8,080 1,158 1,158 29,900 416,049 241 0.70 13,506
Fixed Income - US Mortgage
MBG SPDR Bloomberg Barclays Mortgage Backed Bond ETF 0.09 0.34 0.04 54,428 1,544,134 103,670 6,787 6,787 181,417 1,544,134 92 0.20 14,008
Fixed Income - US Aggregate
BNDS SPDR Bloomberg Barclays Aggregate Bond ETF 0.08 0.14 0.06 87,816 5,330,725 120,817 1,801 1,801 103,738 5,330,725 204 0.20 40,128
Fixed Income - Hybrids
CWB SPDR Bloomberg Barclays Convertible Securities ETF 0.03 0.05 0.02 1,090,600 51,913,158 873,131 2,110 2,110 94,802 51,913,158 171 0.50 1,456,733
PSK SPDR Wells Fargo Preferred Stock ETF 0.10 0.21 0.06 116,034 5,249,251 98,386 5,607 5,607 242,447 5,249,251 203 0.70 12,566
Fixed Income - Municipal
SHM SPDR Nuveen Bloomberg Barclays Short Term 0.03 0.06 0.02 428,949 21,152,683 326,538 6,407 6,407 309,074 21,152,683 285 0.10 210,589
Municipal Bond ETF
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF 0.05 0.09 0.03 710,069 34,533,679 371,013 3,093 3,093 148,928 34,533,679 174 0.30 645,940
HYMB SPDR Nuveen S&P High Yield Municipal Bond ETF 0.09 0.16 0.06 223,403 12,847,729 123,826 671 671 37,898 12,847,729 172 0.60 207,801
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
State Street Global Advisors 6

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
Fixed Income - International
WIP SPDR Citi International Government Inflation- 0.29 0.54 0.18 116,489 6,964,378 85,249 502 502 27,294 6,964,378 154 0.60 4,846
Protected Bond ETF
BWZ SPDR Bloomberg Barclays Short Term International 0.24 0.78 0.16 31,494 1,018,468 21,488 721 721 21,911 1,018,468 248 0.50 3,163
Treasury Bond ETF
BWX SPDR Bloomberg Barclays International Treasury 0.06 0.20 0.04 919,464 25,661,599 645,371 1,077 1,077 29,262 25,661,599 187 0.60 546,752
Bond ETF
IBND SPDR Bloomberg Barclays International Corporate 0.14 0.43 0.11 53,199 2,304,979 56,559 443 443 13,999 2,304,979 150 0.60 2,476
Bond ETF
EBND SPDR Bloomberg Barclays Emerging Markets Local 0.10 0.37 0.08 175,461 4,707,944 95,345 2,432 2,432 63,816 4,707,944 302 0.80 13,283
Bond ETF
Commodity
GLD® SPDR Gold Shares 0.01 0.01 0.01 11,804,314 1,576,410,405 10,203,552 7,522 7,522 890,906 1,576,410,405 206 0.80 7,481,990
NANR SPDR S&P North American Natural Resources ETF 0.08 0.24 0.06 34,515 1,275,395 31,036 1,937 1,937 65,587 1,275,395 241 1.00 16,308
Active - Asset Allocation
RLY SPDR SSGA Multi-Asset Real Return ETF 0.06 0.25 0.05 38,165 948,758 22,108 10,648 10,648 254,700 948,758 278 0.50 31,800
INKM SPDR SSGA Income Allocation ETF 0.07 0.22 0.06 6,679 242,600 5,815 8,052 8,052 245,828 242,600 210 0.40 -
GAL SPDR SSGA Global Allocation ETF 0.11 0.32 0.09 23,005 784,637 18,071 12,536 12,536 412,810 784,637 107 0.30 2,667
DWFI SPDR Dorsey Wright Fixed Income Allocation ETF 0.12 0.49 0.09 23,470 574,144 12,618 2,142 2,532 52,286 63,629 687 0.10 -
Active - Equity
SYE SPDR MFS Systematic Core Equity ETF 0.19 0.31 0.15 245 40,308 271 1,360 1,360 83,341 40,308 87 0.80 107
SYG SPDR MFS Systematic Growth Equity ETF 0.22 0.35 0.18 613 58,103 516 1,110 1,110 68,809 58,103 84 0.50 33
SYV SPDR MFS Systematic Value Equity ETF 0.32 0.57 0.24 510 42,523 388 1,147 1,147 64,003 42,523 43 1.30 1,192
Active - Fixed Income
TOTL SPDR DoubleLine Total Return Tactical ETF 0.03 0.06 0.02 391,192 19,623,272 307,368 2,510 2,510 123,417 19,623,272 262 0.20 98,792
EMTL SPDR DoubleLine Emerging Markets Fixed Income 0.05 0.10 0.03 184,914 9,152,573 157,863 5,312 5,312 250,301 9,152,573 256 0.10 180,039
ETF
STOT SPDR DoubleLine Short Duration Total Return 0.04 0.10 0.04 4,377 233,510 4,072 2,835 2,835 113,967 233,510 278 0.00 2,378
Tactical ETF
SRLN SPDR Blackstone / GSO Senior Loan ETF 0.41 0.79 0.35 1,772 92,415 900 2,486 3,032 129,676 159,356 305 0.45 3,078
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
State Street Global Advisors 7

SPDR® ETF Trading Report
Ticker ETF Name Spread ($) Spread (%) Spread ($) vs. 3 mo. trailing Consolidated Avg. Daily Volume (shares) Consolidated Avg. Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 mo. trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 mo. trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 mo. trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 11/15/2016
Active - Fixed Income (cont’d)
ULST SPDR SSGA Ultra Short Term Bond ETF 0.18 0.28 0.17 7,146 356,300 10,501 8,187 7,621 409,180 383,019 300 0.37 12,014
Source: ArcaVision. Data is as of November 30, 2016. Past performance is not a guarantee of future results.
Prior to 12/13/2016, the SPDR SSGA US Large Cap Low Volatility Index ETF was known as the SPDR Russell 1000® Low Volatility ETF and the SPDR SSGA US Small Cap Low Volatility Index ETF was known as the SPDR Russell 2000® Low Volatility ETF.
Prior to October 31, 2016, the SPDR Bloomberg Barclays ETFs were known as the SPDR Barclays ETFs.
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State Street Global Advisors, One Lincoln Street, Boston, MA 02111-2900. T: +1 617 664 7727.
Important Risk Information
ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs’ net asset value. Brokerage commissions and ETF expenses will reduce returns.
While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.
Investing in commodities entails significant risk and is not appropriate for all investors.
Important Information Relating to SPDR Gold Trust (“GLD®”):
The SPDR Gold Trust (“GLD”) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents GLD has filed with the SEC for more complete information about GLD and this offering. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the SPDR Gold Trust will arrange to send you the prospectus if you request it by calling 866.320.4053.
GLD is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and is not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders of the Trust do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.
GLD shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value of GLD shares relates directly to the value of the gold held by GLD (less its expenses), and fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLD does not generate any income, and as GLD regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Share will decline over time. Investing involves risk, and you could lose money on an investment in GLD.
Please see the GLD prospectus for a detailed discussion of the risks of investing in GLD shares. When this document is distributed electronically, the GLD prospectus is available by clicking here. For more information: State Street Global Markets, LLC (Marketing Agent for GLD), One Lincoln Street, Boston, MA, 02111 T: +1 866 320 4053 spdrgoldshares.com
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Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, and all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc. is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State Street Global Markets, LLC.
State Street Global Markets, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained GSO Capital Partners, Nuveen Asset Management & Massachusetts Financial Services Company & DoubleLine Capital LP as the sub-advisor. GSO Capital Partners, Nuveen Asset Management, MFS, and DoubleLine Capital LP are not affiliated with State Street Global Markets, LLC.
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call +1 617 664 7727 or visit spdrs.com. Read it carefully.
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State Street Global Advisors
ID8328-IBG-22248 1216 Exp. Date: 12/31/2017 SPD001229

SPDR® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold Shares, 30th Floor, Boston, MA 02111.