<SEC-DOCUMENT>0001193125-24-284044.txt : 20241223
<SEC-HEADER>0001193125-24-284044.hdr.sgml : 20241223
<ACCEPTANCE-DATETIME>20241223140402
ACCESSION NUMBER:		0001193125-24-284044
CONFORMED SUBMISSION TYPE:	N-30D
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20241031
FILED AS OF DATE:		20241223
DATE AS OF CHANGE:		20241223
EFFECTIVENESS DATE:		20241223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST
		CENTRAL INDEX KEY:			0001041130
		ORGANIZATION NAME:           	
		IRS NUMBER:				133574560
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-30D
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09170
		FILM NUMBER:		241572374

	BUSINESS ADDRESS:	
		STREET 1:		PDR SERVICES LLC C/O NYSE EURONEXT
		STREET 2:		11 WALL STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		212-656-4440

	MAIL ADDRESS:	
		STREET 1:		PDR SERVICES LLC C/O NYSE EURONEXT
		STREET 2:		11 WALL STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIAMONDS TRUST SERIES I
		DATE OF NAME CHANGE:	19970714
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-30D
<SEQUENCE>1
<FILENAME>d869228dn30d.htm
<DESCRIPTION>SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST
<TEXT>
<HTML><HEAD>
<TITLE>SPDR Dow Jones Industrial Average ETF Trust</TITLE>
</HEAD>

  <BODY bgcolor="white"> <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:20pt;font-style:Normal;font-weight:Normal;line-height:23pt;text-align:left;text-decoration:none;text-transform:none;">Annual Report</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:Normal;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:30pt;font-style:Normal;font-weight:bold;line-height:33pt;margin-top:137pt;text-align:left;text-decoration:none;text-transform:none;">SPDR<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;">&#174;</SUP> Dow Jones Industrial Average<SUP style="font-size:85%;font-style:Normal;text-transform:none;">SM</SUP> ETF Trust</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:18pt;font-style:Normal;font-weight:Normal;line-height:21pt;text-align:left;text-decoration:none;text-transform:none;">A Unit Investment Trust</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:90pt;text-align:left;text-decoration:none;text-transform:none;">&#8220;Dow Jones Industrial Average<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;">SM</SUP>&#8221;, &#8220;DJIA<SUP style="font-size:85%;font-style:Normal;text-transform:none;">&#174;</SUP>&#8221;, &#8220;Dow Jones<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;">&#174;</SUP>&#8221;, &#8220;The Dow<SUP style="font-size:85%;font-style:Normal;text-transform:none;">&#174;</SUP>&#8221; and &#8220;DIAMONDS<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;">&#174;</SUP>&#8221; are trademarks and service marks of Standard &amp; Poor&#8217;s Financial Services LLC and have been licensed for use by S&amp;P Dow Jones Indices LLC
(&#8220;S&amp;P&#8221;) and sublicensed for use by State Street Global Advisors Funds Distributors, LLC. SPDR Dow Jones Industrial Average ETF Trust (the &#8220;Trust&#8221;), PDR Services LLC and NYSE Arca, Inc. are permitted to use these
trademarks and service marks pursuant to separate sublicenses. The Trust is not sponsored, endorsed, sold or promoted by S&amp;P, its affiliates or its third party licensors.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">&#8220;SPDR<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;">&#174;</SUP>&#8221; is a trademark of Standard &amp; Poor&#8217;s Financial Services LLC and has been licensed for use by S&amp;P and sublicensed for use by State Street Global Advisors
Funds Distributors, LLC. No financial product offered by State Street Global Advisors Funds Distributors, LLC or its affiliates is sponsored, endorsed, sold or promoted by S&amp;P, its affiliates or its third party licensors.</DIV>
<DIV style="margin-top:85pt;text-align:Left;width:193pt;">
<IMG src="g869228img63fb81261.jpg" alt=" "> </DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial Average ETF Trust</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Trust Overview<FONT style="font-weight:Normal;"> </FONT></DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:17pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">INVESTMENT OBJECTIVE:</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The SPDR Dow Jones Industrial Average ETF Trust (the
&#8220;Trust&#8221;) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the Dow Jones Industrial Average (the &#8220;DJIA&#8221;).</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">INVESTMENT STRATEGY:</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The Trust seeks to achieve this investment objective by
holding a portfolio of the common stocks that are included in the DJIA (the &#8220;Portfolio&#8221;), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the DJIA.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">PERFORMANCE OVERVIEW:</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Trust ended its fiscal year on October 31, 2024, with
a 12-month total return of 28.60% on net asset value (&#8220;NAV&#8221;), as compared to the DJIA return of 28.85%.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The Trust&#8217;s performance reflects the operating
expenses of the Trust, including brokerage expenses, marketing expenses, license fees, expenses relating to legal and audit services and Trustee fees. The DJIA returns do not reflect fees and expenses of any kind, which would have a negative impact
on returns.</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"></A> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:16pt;font-style:Normal;font-weight:bold;line-height:19pt;text-align:center;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial Average ETF Trust</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:center;text-decoration:none;text-transform:none;">Annual Report</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:center;text-decoration:none;text-transform:none;">October 31, 2024</DIV> </DIV>
<DIV style="margin-top:2.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:13pt;text-align:center;text-decoration:none;text-transform:none;">Table of Contents</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:9pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_20ac7f14-b593-496a-a2d4-9c8b37211b75_1">Schedule of
Investments</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:22.34pt;padding-top:9pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">1
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_a952206d-8588-4605-9880-13bc398b71e9_1">Statement of Assets and
Liabilities</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:22.34pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">4
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_fd8f6ded-e644-445f-8e9e-1f19a0fdad9e_1">Statements of
Operations</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:22.34pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">5
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_8cfb6f1d-8fa3-456e-9526-162467d31340_1">Statements of Changes in Net
Assets</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:22.34pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">6
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_aea2131a-bc94-4a1a-83ee-62700b34858c_1">Financial
Highlights</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:22.34pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">7
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_1">Notes to Financial
Statements</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:22.34pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">8
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_032e780e-5df7-4b7f-82b3-58c4c479a80e_1">Report of Independent Registered Public Accounting
Firm</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:1.12pt;padding-left:16.5pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">16
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:3pt;padding-left:2pt;padding-right:6pt;padding-top:1.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:96.36%;">
<DIV style="float:left;"><FONT ><A href="#xx_d5087c74-cb37-4f69-8409-e83581ea32a8_1">Other Information
(Unaudited)</A></FONT></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;padding-bottom:3pt;padding-left:16.5pt;padding-top:1.12pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:4.87%;">17
 </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_20ac7f14-b593-496a-a2d4-9c8b37211b75_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust </DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Schedule of Investments</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:13pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">Security
 Description </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">Shares
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:6pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.81%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:2.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:85.19%;" colspan="2">Common
 Stocks &#8212; 100.0% </TD>
<TD style="line-height:0pt;padding-bottom:1.38pt;padding-right:6pt;padding-top:2.25pt;text-align:right;vertical-align:bottom;width:14.81%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">3M
Co.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:6pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.81%;">$
<FONT style="padding-left:0.03pt;"></FONT><FONT style="padding-left:11.09pt;">715,792,445</FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Amazon.com, Inc.
(a)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,038,559,288
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">American Express
Co.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,504,796,634
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Amgen,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,783,825,867
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Apple,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,258,695,970
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Boeing Co.
(a)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">831,906,048
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Caterpillar,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">2,096,062,254
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Chevron
Corp.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">829,175,929
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Cisco Systems,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">305,160,366
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Coca-Cola
Co.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">363,885,768
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Dow,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">275,129,065
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Goldman Sachs Group,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">2,884,955,009
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Home Depot,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">2,193,845,062
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Honeywell International,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,145,981,086
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Intel
Corp.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">119,902,338
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">International Business Machines
Corp.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,151,775,622
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Johnson &amp;
Johnson</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">890,687,166
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">JPMorgan Chase &amp;
Co.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,236,465,006
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">McDonald's
Corp.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,627,540,524
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Merck &amp; Co.,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">570,093,274
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Microsoft
Corp.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">2,264,048,104
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">NIKE, Inc. Class
B</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">429,742,907
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Procter &amp; Gamble
Co.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">920,328,451
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Salesforce,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,623,417,488
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Travelers Cos.,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,370,296,520
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">UnitedHealth Group,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">3,145,207,715
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Verizon Communications,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">234,734,457
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Visa, Inc. Class
A</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:14.89pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">1,614,948,550
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Walmart,
Inc.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.38pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.81%;">456,598,357
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:74.38%;">
<DIV style="float:left;">Walt Disney
Co.</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.80%;">5,571,670
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:21.56pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:14.81%;">535,994,654
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:1.5pt;padding-top:2.25pt;text-align:left; text-decoration:none;text-indent:-9pt;text-transform:none;vertical-align:bottom;width:74.38%;">Total
 Common Stocks<BR> (Cost $35,660,259,390) </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2.25pt;text-align:right;vertical-align:bottom;width:10.80%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.81%;">$35,419,551,924
 </TD></TR></TABLE> </DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:99.38%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:2.64%;">(a)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:3pt;padding-right:9pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:96.73%;">Non-income
 producing security. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:92pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">1</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_20ac7f14-b593-496a-a2d4-9c8b37211b75_2"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust </DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Schedule of Investments&nbsp;(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:20pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The following table summarizes the value of the Trust's
investments according to the fair value hierarchy as of October 31, 2024.&#160;</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;padding-top:6pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:36.11%;">Description
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-right:1.5pt;padding-top:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.05%;">Level
 1 &#8211;<BR> Quoted Prices </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-right:1.5pt;padding-top:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.05%;">Level
 2 &#8211;<BR> Other Significant<BR> Observable Inputs </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-right:1.5pt;padding-top:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.05%;">Level
 3 &#8211;<BR> Significant<BR> Unobservable Inputs </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-top:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.05%;">Total
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.88pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:36.11%;">ASSETS:
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:1.5pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:1.5pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:1.5pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:36.11%;">INVESTMENTS:
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:1.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:1.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:1.5pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:16.05%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.11%;">Common
 Stocks </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:1.5pt;padding-right:1.5pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:16.05%;">$35,419,551,924
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:1.5pt;padding-right:1.5pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:16.05%;">$&#8212;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:1.5pt;padding-right:1.5pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:16.05%;">$&#8212;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:1.5pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:16.05%;">$35,419,551,924
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:387pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">2</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_7a27bf15-e734-4c41-9c5b-7f1dce9119b0_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Schedule of Investments (continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:20pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">INDUSTRY BREAKDOWN AS OF OCTOBER 31, 2024*</DIV> </DIV>
<DIV style="width:47.13%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:12pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">INDUSTRY
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:3pt;padding-top:12pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.24%;">PERCENT
 OF<BR> NET ASSETS </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1.88pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Banks</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16.45pt;padding-top:1.88pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.24%;">11.6%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Software</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16.45pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">11.0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Health Care Providers &amp;
Services</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">8.9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Specialty
Retail</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">6.2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Machinery</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">5.9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Industrial
Conglomerates</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">5.3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Biotechnology</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">5.0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Hotels, Restaurants &amp;
Leisure</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">4.6
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Financial
Services</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">4.6
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Consumer
Finance</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">4.2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Pharmaceuticals</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">4.1
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Insurance</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">3.9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Technology Hardware, Storage &amp;
Peripherals</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">3.6
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">IT
Services</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">3.3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Broadline
Retail</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">2.9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Household
Products</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">2.6
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Aerospace &amp;
Defense</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">2.3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Oil, Gas &amp; Consumable
Fuels</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">2.3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Entertainment</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">1.5
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Consumer Staples Distribution &amp;
Retail</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">1.3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Textiles, Apparel &amp; Luxury
Goods</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">1.2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Beverages</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">1.0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Communications
Equipment</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">0.9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">
<DIV style="float:left;">Chemicals</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">0.8
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Diversified Telecommunication
Services</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">0.7
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:3pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Semiconductors &amp; Semiconductor
Equipment</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:20.89pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">0.3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:76.07%;">
<DIV style="float:left;">Other Assets in Excess of
Liabilities</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:15.56pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">0.0
<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(a)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:1.88pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:76.07%;">Total
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:3pt;padding-top:1.88pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.24%;">100.0%
 </TD></TR></TABLE> </DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:3pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:5.60%;">*
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:3pt;padding-right:9pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:96.05%;">The
 Trust&#8217;s industry breakdown is expressed as a percentage of net assets and may change over time. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:0.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:5.60%;">(a)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:3pt;padding-right:9pt;padding-top:0.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:96.05%;">Amount
 shown represents less than 0.05% of net assets. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:86pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">3</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_a952206d-8588-4605-9880-13bc398b71e9_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Statement of Assets and Liabilities</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024&nbsp;</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:13pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:99.79%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:83.97%;">ASSETS
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;text-align:right;vertical-align:bottom;width:16.14%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Investments in unaffiliated issuers, at value (Note
2)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.0pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">$35,419,551,924
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:83.97%;">
<DIV style="float:left;">Cash</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:36.75pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">25,326,992
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Receivable for units of fractional undivided interest (&#8220;Units&#8221;) issued
in-kind</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:55.23pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">50,177
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Dividends receivable &#8212; unaffiliated issuers (Note
2)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:36.75pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">21,194,760
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Total
Assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8.78pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">35,466,123,853
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:83.97%;">LIABILITIES
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:16.14%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Accrued Trustee expense (Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:42.03pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">1,505,551
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Accrued marketing expense (Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:36.75pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">13,312,036
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Accrued DJIA license fee (Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:42.03pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">4,011,178
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Distribution
payable</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:36.75pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">12,589,110
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Accrued expenses and other
liabilities</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:40.45pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">547,574
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Total
Liabilities</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:27.25pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">31,965,449
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:2.5pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">NET ASSETS
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:3.5pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">$35,434,158,404
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">NET
 ASSETS CONSIST OF: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:16.14%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Paid-in Capital (Note
4)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.0pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">$37,840,825,728
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Total distributable earnings
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:10.89pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">(2,406,667,324)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:2.5pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">NET ASSETS
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:3.5pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">$35,434,158,404
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:2.5pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">NET ASSET VALUE PER UNIT
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:3.5pt;padding-top:2.5pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.14%;">$
<FONT style="padding-left:36.95pt;"></FONT>417.64 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:2.5pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">UNITS OUTSTANDING (UNLIMITED UNITS AUTHORIZED)
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:27.25pt;padding-top:2.5pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">84,842,867
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">COST
 OF INVESTMENTS: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:16.14%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:83.97%;">
<DIV style="float:left;">Investments at cost &#8212; unaffiliated
issuers</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:3.5pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.14%;">$35,660,259,390
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:203.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;margin-top:218pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">4</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_fd8f6ded-e644-445f-8e9e-1f19a0fdad9e_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Statements of Operations</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:13pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:99.79%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:9.5pt;padding-bottom:3pt;padding-right:3.5pt;text-align:center;vertical-align:bottom;width:53.66%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.04%;">Year
 Ended<BR> 10/31/24 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.69%;">Year
 Ended<BR> 10/31/23 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:15.70%;">Year
 Ended<BR> 10/31/22 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">INVESTMENT
 INCOME </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.04%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.69%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:15.70%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Dividend income &#8212; unaffiliated issuers (Note
2)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.0pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.04%;">$
<FONT style="padding-left:7.92pt;"></FONT>640,680,527 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.69%;">$
<FONT style="padding-left:11.08pt;"></FONT>625,096,873 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:15.70%;">$
<FONT style="padding-left:11.08pt;"></FONT>579,440,600 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:53.66%;">EXPENSES
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.04%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.69%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:15.70%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Trustee expense (Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:31.47pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">17,048,720
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">15,467,469
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">16,486,270
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Marketing expense (Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:31.47pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">19,847,001
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">17,441,472
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">17,190,933
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">DJIA license fee (Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:31.47pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">13,331,334
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">11,727,648
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">11,560,622
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Legal and audit
fees</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:44.67pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">541,177
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:38.33pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">490,872
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:38.33pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">408,680
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Other
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:27.25pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">1,096,975
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.41pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">1,009,830
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:38.33pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">818,425
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Total
Expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:21.97pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">51,865,207
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:25.14pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">46,137,291
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:25.14pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">46,464,930
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">NET INVESTMENT INCOME
(LOSS)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:16.70pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">588,815,320
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:19.86pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">578,959,582
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:19.86pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">532,975,670
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">REALIZED
 AND UNREALIZED GAIN (LOSS) </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.04%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.69%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:15.70%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">Net
 realized gain (loss) on: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:bottom;width:13.04%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:bottom;width:13.69%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:1.25pt;text-align:right;vertical-align:bottom;width:15.70%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:23pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Investments &#8212; unaffiliated
issuers</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:32.53pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">(298,026,888)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:35.17pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">(282,562)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:21.97pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">(16,036,244)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:23pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">In-kind redemptions &#8212; unaffiliated
issuers</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:27.78pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">3,340,262,554
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">1,316,812,416
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">2,316,631,997
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Net realized gain
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8.78pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">3,042,235,666
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">1,316,529,854
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">2,300,595,753
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">Net
 change in unrealized appreciation/depreciation on: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.04%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:13.69%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:15.70%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:23pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">Investments &#8212; unaffiliated
issuers</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:27.78pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">4,283,474,160
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8.78pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">(1,034,541,644)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8.78pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">(5,015,336,984)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">NET REALIZED AND UNREALIZED GAIN
(LOSS)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8.78pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">7,325,709,826
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:19.86pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.69%;">281,988,210
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8.78pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">(2,714,741,231)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.66%;">
<DIV style="float:left;">NET INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:3.5pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.04%;">$7,914,525,146
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:3.5pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.69%;">$
<FONT style="padding-left:11.08pt;"></FONT>860,947,792 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:3.5pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.70%;">$(2,181,765,561)
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:214pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">5</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_8cfb6f1d-8fa3-456e-9526-162467d31340_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Statements of Changes in Net Assets</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:13pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:99.79%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:9.5pt;padding-bottom:3pt;padding-right:3.5pt;text-align:center;vertical-align:bottom;width:49.74%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.78%;">Year
 Ended<BR> 10/31/24 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.78%;">Year
 Ended<BR> 10/31/23 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:16.79%;">Year
 Ended<BR> 10/31/22 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:49.74%;">INCREASE
 (DECREASE) IN NET ASSETS FROM OPERATIONS: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:14.78%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:14.78%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:16.79%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Net investment income
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.0pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.78%;">$
<FONT style="padding-left:16.36pt;"></FONT>588,815,320 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:3.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.78%;">$
<FONT style="padding-left:16.36pt;"></FONT>578,959,582 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:3.5pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:16.79%;">$
<FONT style="padding-left:16.36pt;"></FONT>532,975,670 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Net realized gain
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:26.72pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">3,042,235,666
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:17.22pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">1,316,529,854
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:17.22pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">2,300,595,753
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Net change in unrealized
appreciation/depreciation</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:17.22pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">4,283,474,160
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:14.06pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(1,034,541,644)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:14.06pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(5,015,336,984)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:17.22pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">7,914,525,146
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:25.14pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">860,947,792
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:14.06pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(2,181,765,561)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET EQUALIZATION CREDITS AND CHARGES (NOTE
2)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:32.53pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(2,891,953)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:32.53pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(1,590,536)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:35.69pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">3,573,360
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">DISTRIBUTIONS TO UNITHOLDERS
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:21.97pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(580,101,783)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:21.97pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(577,235,757)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:21.97pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(540,958,394)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-indent:-10pt;text-transform:none;vertical-align:bottom;width:49.74%;">INCREASE
 (DECREASE) IN NET ASSETS FROM UNIT TRANSACTIONS: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:14.78%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:14.78%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.12pt;text-align:right;vertical-align:bottom;width:16.79%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Proceeds from issuance of
Units</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:21.44pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">47,033,637,075
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:11.94pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">24,818,760,918
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:11.94pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">33,691,872,993
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Cost of Units
redeemed</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:18.28pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(45,999,731,769)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:8.78pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(27,327,387,182)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:8.78pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(31,710,390,546)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Net income equalization (Note
2)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:35.69pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">2,891,953
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:35.69pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">1,590,536
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:32.53pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(3,573,360)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET INCREASE (DECREASE) IN NET ASSETS FROM ISSUANCE AND REDEMPTION OF
UNITS</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:17.22pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">1,036,797,259
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:14.06pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(2,507,035,728)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:17.22pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">1,977,909,087
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET INCREASE (DECREASE) IN NET ASSETS DURING THE PERIOD
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:17.22pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">8,368,328,669
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:14.06pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(2,224,914,229)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:21.97pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(741,241,508)
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET ASSETS AT BEGINNING OF PERIOD
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">27,065,829,735
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">29,290,743,964
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:11.94pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">30,031,985,472
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:2.5pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET ASSETS AT END OF
PERIOD</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:3.5pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.78%;">$
<FONT style="padding-left:3.16pt;"></FONT>35,434,158,404 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:3.5pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.78%;">$
<FONT style="padding-left:3.16pt;"></FONT>27,065,829,735 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2.5pt;padding-left:3.5pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.79%;">$
<FONT style="padding-left:3.16pt;"></FONT>29,290,743,964 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">UNIT
 TRANSACTIONS: </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:14.78%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:14.78%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:16.79%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Units
sold</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:34.64pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">120,650,000
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:30.41pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">73,400,000
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:25.14pt;padding-top:1.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">100,700,000
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:13.5pt;padding-right:3.5pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">Units
redeemed</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:21.97pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(117,700,000)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:27.25pt;padding-right:3.5pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(81,000,000)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;padding-top:1.25pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:27.25pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">(95,050,000)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:1.25pt;padding-left:4pt;padding-right:3.5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:49.74%;">
<DIV style="float:left;">NET INCREASE
(DECREASE)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:35.69pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">2,950,000
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:32.53pt;padding-right:3.5pt; padding-top:2.12pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.78%;">(7,600,000)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:3.5pt;padding-top:2.12pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.25pt;padding-left:35.69pt;padding-top:2.12pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.79%;">5,650,000
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:175pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">6</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_aea2131a-bc94-4a1a-83ee-62700b34858c_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Financial Highlights</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">Selected data for a Unit outstanding throughout each period&nbsp;</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:13pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:separate;empty-cells:show;margin-top:0pt;width:100.00%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-bottom:3pt;padding-right:4.5pt;text-align:center;vertical-align:bottom;width:44.07%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:4.5pt;padding-right:4.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">Year
 Ended<BR> 10/31/24 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:4.5pt;padding-right:4.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">Year
 Ended<BR> 10/31/23 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:4.5pt;padding-right:4.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">Year
 Ended<BR> 10/31/22 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:4.5pt;padding-right:4.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">Year
 Ended<BR> 10/31/21 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:4.5pt;padding-right:9pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:11.00%;">Year
 Ended<BR> 10/31/20 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:3pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net asset value, beginning of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4.5pt; padding-right:4.5pt;padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>330.50 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4.5pt; padding-right:4.5pt;padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>327.30 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4.5pt; padding-right:4.5pt;padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>358.19 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4.5pt; padding-right:4.5pt;padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>265.04 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:4.5pt; padding-right:9pt;padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>270.37 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">Income
 (loss) from investment operations: </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:9pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:11.00%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net investment income (loss)
(a)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:41.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">6.94
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">6.72
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">6.19
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">5.66
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:9pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">5.87
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net realized and unrealized gain
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:28.95pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">87.11
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:33.40pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">3.20
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:26.29pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(30.85)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:28.95pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">93.12
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:9pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">(5.42)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Total from investment
operations</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:28.95pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">94.05
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:33.40pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">9.92
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:26.29pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(24.66)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:28.95pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">98.78
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:33.40pt;padding-right:9pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">0.45
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net equalization credits and charges
(a)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(0.03)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(0.02)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:33.40pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.04
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(0.01)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:33.40pt;padding-right:9pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">0.09
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">Less
 Distributions from: </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:9pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:11.00%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net investment
income</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(6.88)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(6.70)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(6.27)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:4.5pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(5.62)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:30.74pt;padding-right:9pt; padding-top:0.75pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">(5.87)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:2pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net asset value, end of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2pt;padding-left:4.5pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>417.64 </TD>
<TD style="line-height:0pt;padding-bottom:2pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2pt;padding-left:4.5pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>330.50 </TD>
<TD style="line-height:0pt;padding-bottom:2pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2pt;padding-left:4.5pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>327.30 </TD>
<TD style="line-height:0pt;padding-bottom:2pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2pt;padding-left:4.5pt;padding-right:4.5pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:9.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>358.19 </TD>
<TD style="line-height:0pt;padding-bottom:2pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:2pt;padding-left:4.5pt;padding-right:9pt; padding-top:1.62pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.00%;">$
<FONT style="padding-left:15.56pt;"></FONT>265.04 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:4.5pt;padding-top:2pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Total return
(b)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:28.95pt;padding-right:4.5pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">28.60%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">2.99%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:30.74pt;padding-right:4.5pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">(6.86)%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:28.95pt;padding-right:4.5pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">37.46%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:9pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">0.27%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">Ratios
 and Supplemental Data: </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:9pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:11.00%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.62pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net assets, end of period (in
000s)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.62pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">$35,434,158
 </TD>
<TD style="line-height:0pt;padding-bottom:1.62pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.62pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">$27,065,830
 </TD>
<TD style="line-height:0pt;padding-bottom:1.62pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.62pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">$29,290,744
 </TD>
<TD style="line-height:0pt;padding-bottom:1.62pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.62pt;padding-left:4.5pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">$30,031,985
 </TD>
<TD style="line-height:0pt;padding-bottom:1.62pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:1.62pt;padding-left:4.5pt;padding-right:9pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">$22,367,170
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:bold;line-height:12.5pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:4.5pt;padding-top:1.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">Ratios
 to average net assets: </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:9.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:1.62pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:9pt;padding-top:1.62pt;text-align:center;vertical-align:bottom;width:11.00%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Total expenses (excluding Trustee earnings
credit)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:41.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:9pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">0.16%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:41.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0.16%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:9pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">0.16%
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Net investment income
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:41.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">1.78%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">1.99%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">1.86%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">1.72%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:0.75pt;padding-left:33.40pt;padding-right:9pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">2.20%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:0pt;padding-right:4.5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:44.07%;">
<DIV style="float:left;">Portfolio turnover rate
(c)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-5pt;margin-top:5pt;padding-top:3pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:44.52pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">3%
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:44.52pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0%(d)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:44.52pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0%(d)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:44.52pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.00%;">0%(d)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:4.5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-bottom:3pt;padding-left:40.07pt;padding-right:9pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.00%;">19%
 </TD></TR></TABLE> </DIV> <HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.5pt solid #000000;height:0.5pt;width:10%;" align="Left"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:0pt;padding-right:3pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:2.50%;">(a)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:3pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:98.12%;">Per Unit
numbers have been calculated using the average shares method, which more appropriately presents per Unit data for the year. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:0pt;padding-right:3pt;padding-top:0.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:2.50%;">(b)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:3pt;padding-top:0.75pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:98.12%;">Total
return is calculated assuming a purchase of Units at net asset value per Unit on the first day and a sale at net asset value per Unit on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be
reinvested at the net asset value per Unit on the respective payment dates of the Trust. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:0pt;padding-right:3pt;padding-top:0.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:2.50%;">(c)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:3pt;padding-top:0.75pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:98.12%;">Portfolio
 turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Units. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:0pt;padding-right:3pt;padding-top:0.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:2.50%;">(d)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:7.5pt;font-style:Normal;font-weight:Normal;line-height:10.5pt;padding-left:3pt;padding-top:0.75pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:98.12%;">Amount
shown represents less than 0.5%. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:200pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">See accompanying notes to financial statements.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;">7</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial Statements</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;1&nbsp;
<FONT style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Organization</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:14pt;text-align:justify;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial Average ETF Trust (the
&#8220;Trust&#8221;) is a unit investment trust created under the laws of the State of New York and registered under the Investment Company Act of 1940, as amended. The Trust is an &#8220;Exchange-Traded Fund&#8221;, the units of which are listed on
and traded on the New York Stock Exchange (&#8220;NYSE&#8221;)&#160; under the symbol &#8220;DIA&#8221;, and operates under an exemptive order granted by the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). The Trust was created to
provide investors with the opportunity to purchase a security representing a proportionate undivided interest in a portfolio of securities consisting of substantially all of the component common stocks, in substantially the same weighting, which
comprise the Dow Jones Industrial Average (the &#8220;DJIA&#8221;). Each unit of fractional undivided interest in the Trust is referred to as a &#8220;Unit&#8221;. The Trust commenced operations on January 14, 1998 upon the initial issuance of
500,000 Units (equivalent to ten &#8220;Creation Units&#8221; - see Note 4) in exchange for a portfolio of securities assembled to reflect the intended portfolio composition of the Trust.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">Under the Amended and Restated Standard Terms and
Conditions of the Trust, as amended (the &#8220;Trust Agreement&#8221;), PDR Services, LLC (the &#8220;Sponsor&#8221;) and State Street Global Advisors Trust Company (the &#8220;Trustee&#8221;) are indemnified against certain liabilities arising out
of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts that contain general indemnification clauses. The Trust&#8217;s maximum exposure under these arrangements is unknown as
this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience, the Trustee expects the risk of material loss to be remote.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Sponsor is an indirect, wholly-owned subsidiary of
Intercontinental Exchange, Inc. (&#8220;ICE&#8221;). ICE is a publicly-traded entity, trading on the NYSE under the symbol &#8220;ICE.&#8221;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;2&nbsp;
<FONT style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Summary of Significant Accounting Policies</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The following is a summary of significant accounting
policies followed by the Trustee (who is responsible for the preparation of the Trust's financial statements) in the preparation of the Trust's financial statements:</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The preparation of financial statements in accordance
with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) requires the Trustee to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates. The Trust is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">Security Valuation</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:justify;text-decoration:none;text-transform:none;">The Trust&#8217;s investments are valued at fair value each day that
the NYSE is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE 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 the
Trust are valued pursuant to the policy and procedures developed by the Oversight</DIV> </DIV> <DIV style="margin-top:20.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">8</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_2"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;2&nbsp;<FONT style="padding-left:1%;"></FONT>&#8212;<FONT
 style="padding-left:1%;"></FONT>&nbsp;Summary of Significant Accounting
Policies<FONT style="font-weight:Normal;">&nbsp;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&#8211;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&nbsp;</FONT>(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:15pt;text-align:left;text-decoration:none;text-transform:none;">Committee of the Trustee (the &#8220;Committee&#8221;).
The Committee provides oversight of the valuation of investments for the Trust.&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Valuation techniques used to value the Trust&#8217;s
equity investments are as follows:</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">Equity
investments (including preferred stocks) 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.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">In the event that prices or quotations are not readily
available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in
accordance with the valuation policy and procedures approved by the Trustee.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">Fair value pricing could result in a difference between
the prices used to calculate the Trust&#8217;s net asset value (&#8220;NAV&#8221;) and the prices used by the Trust&#8217;s underlying index, the DJIA, which in turn could result in a difference between the Trust&#8217;s performance and the
performance of the DJIA.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The Trustee values the
Trust's 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 the investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The three levels of the fair value hierarchy are as
follows:</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">&#8226;&nbsp;&nbsp;Level 1 &#8211; Unadjusted
quoted prices in active markets for identical assets or liabilities;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;padding-left:8.8136pt;text-align:left;text-decoration:none;text-indent:-8.8136pt; text-transform:none;">&#8226;&nbsp;
&nbsp;Level 2 &#8211; Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices
for 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</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:9pt;padding-left:8.8136pt;text-align:left;text-decoration:none;text-indent:-8.8136pt; text-transform:none;">&#8226;&nbsp;
&nbsp;Level 3 &#8211; Unobservable inputs for the assets or liabilities, including the Committee&#8217;s assumptions used in determining the fair value of investments.</DIV> </DIV> <DIV style="margin-top:55.00pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">9</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_3"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;2&nbsp;<FONT style="padding-left:1%;"></FONT>&#8212;<FONT
 style="padding-left:1%;"></FONT>&nbsp;Summary of Significant Accounting
Policies<FONT style="font-weight:Normal;">&nbsp;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&#8211;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&nbsp;</FONT>(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:15pt;text-align:left;text-decoration:none;text-transform:none;">Investment Transactions and Income Recognition</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:justify;text-decoration:none;text-transform:none;">Investment transactions are accounted for on the trade date for
financial reporting purposes. Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, or when the information becomes available, net of any foreign taxes withheld at source, if any. Non-cash dividends received
in the form of stock, if any, are recorded as dividend income at fair value. Realized gains and losses from the sale or disposition of investments are determined using the identified cost method.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">Distributions</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:justify;text-decoration:none;text-transform:none;">The Trust declares and distributes dividends from net investment
income, if any, to its holders of Units (&#8220;Unitholders&#8221;),&#160;monthly. Capital gain distributions, if any, are generally declared and paid annually. Additional distributions may be paid by the Trust to avoid imposition of federal income
and excise tax on any remaining undistributed net investment income and capital gains. The amount and character of income and gains to be distributed are determined in accordance with federal tax regulations which may differ from net investment
income and realized gains recognized for U.S. GAAP purposes.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">Equalization</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:justify;text-decoration:none;text-transform:none;">The Trustee follows the accounting practice known as
&#8220;Equalization&#8221;&#160;by which a portion of the proceeds from sales and costs of reacquiring the Trust's Units, equivalent on a per Unit basis to the amount of distributable net investment income on the date of the transaction, is credited
or charged to undistributed net investment income. As a result, undistributed net investment income per Unit is unaffected by sales or reacquisitions of the Trust's Units. Amounts related to Equalization can be found on the Statements of Changes in
Net Assets.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">Federal Income Taxes</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;text-align:justify;text-decoration:none;text-transform:none;">For U.S. federal income tax purposes, the Trust has qualified as a
&#8220;regulated investment company&#8221; under Subchapter M of the Internal Revenue Code of 1986, as amended (a &#8220;RIC&#8221;), and intends to continue to qualify as a RIC. As a RIC, the Trust will generally not be subject to U.S. federal
income tax for any taxable year on income, including net capital gains, that it distributes to its Unitholders, provided that it distributes on a timely basis at least 90% of its &#8220;investment company taxable income&#8221; determined prior to
the deduction for dividends paid by the Trust (generally, its taxable income other than net capital gain) for such taxable year. In addition, provided that the Trust distributes substantially all of its ordinary income and capital gains during each
calendar year, the Trust will not be subject to U.S. federal excise tax. Income and capital gain distributions are determined in accordance with U.S. federal income tax principles, which may differ from U.S. GAAP. These book-tax differences are
primarily due to differing treatments for in-kind transactions and losses deferred due to wash sales.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">U.S. GAAP requires the evaluation of tax positions
taken in the course of preparing the Trust&#8217;s tax returns to determine whether the tax positions are more likely than not to be sustained by the applicable tax authority. For U.S. GAAP purposes, the Trust recognizes the tax benefits of
uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities.</DIV> </DIV> <DIV style="margin-top:6.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">10</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_4"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;2&nbsp;<FONT style="padding-left:1%;"></FONT>&#8212;<FONT
 style="padding-left:1%;"></FONT>&nbsp;Summary of Significant Accounting
Policies<FONT style="font-weight:Normal;">&nbsp;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&#8211;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&nbsp;</FONT>(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:15pt;text-align:justify;text-decoration:none;text-transform:none;">The Trustee has reviewed the Trust's tax positions for
the open tax years as of October 31, 2024 and has determined that no provision for income tax is required in the Trust&#8217;s financial statements. Generally, the Trust&#8217;s tax returns for the prior three fiscal years remain subject to
examinations by the Trust&#8217;s major tax jurisdictions, which include the United States of America, the Commonwealth of Massachusetts and the State of New York. The Trustee has the Trust recognize interest and penalties, if any, related to tax
liabilities as income tax expense in the Statements of Operations. There were no such expenses for the year ended October 31, 2024.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">No income tax returns are currently under examination.
The Trustee has analyzed the relevant tax laws and regulations and their application to the Trust&#8217;s facts and circumstances and does not believe there are any uncertain tax positions that require recognition of any tax liabilities. Any
potential tax liability is also subject to ongoing interpretation of laws by taxing authorities. The tax treatment of the Trust&#8217;s investments may change over time based on factors including, but not limited to, new tax laws, regulations and
interpretations thereof.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">During the year ended
October 31, 2024, the Trustee reclassified $3,340,262,554&#160;of non-taxable security gains realized from the in-kind redemption of Creation Units (Note 4) as an increase to paid in capital in the Trust's Statement of Assets and Liabilities.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">At October 31, 2024, the Trust had capital loss
carryforwards that may be utilized to offset any future net realized capital gains as follows:</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:69.14%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:95.82%;">
<DIV style="float:left;">Non-Expiring &#8212; Short
Term</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-top:12pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.36%;">$
<FONT style="padding-left:7.09pt;"></FONT>177,383,953 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:95.82%;">
<DIV style="float:left;">Non-Expiring &#8212; Long
Term</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:9pt;font-size:9pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:12pt;line-height:12pt; padding-bottom:6pt;padding-left:7.72pt;padding-top:1.5pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.36%;
">1,989,825,224
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">As of October 31, 2024, gross
unrealized appreciation and gross unrealized depreciation of investments&#160;based on cost for federal income tax purposes were as follows:</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:9pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:left;vertical-align:bottom;width:46.10%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.36%;">Tax
<BR> Cost </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.39%;">Gross
<BR> Unrealized<BR> Appreciation </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.39%;">Gross
<BR> Unrealized<BR> Depreciation </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-top:12pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.38%;">Net
 Unrealized<BR> Appreciation<BR> (Depreciation) </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:3pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:46.10%;">
<DIV style="float:left;">SPDR Dow Jones Industrial Average ETF
Trust</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:12.36%;">$35,660,503,694
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:11.39%;">$2,552,485,506
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:11.39%;">$2,793,437,276
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:13.38%;">$(240,951,770)
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The tax character of
distributions paid during the years ended October 31, 2024, 2023 and 2022 was as follows:</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:3pt;padding-top:12pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:62.83%;">Distributions
 paid from: </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.93%;">2024
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.93%;">2023
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-top:12pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.93%;">2022
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:3pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:62.83%;">
<DIV style="float:left;">Ordinary
Income</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:2.38pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:9.93%;">$580,101,783
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:9.93%;">$577,235,757
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:11.93%;">$540,958,394
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">As of October 31, 2024, the
components of distributable earnings (excluding unrealized appreciation/(depreciation)) were undistributed ordinary income of $14,082,733&#160;and undistributed capital gain of $0.<BR> </DIV> </DIV>
<DIV style="margin-top:11.50pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">11</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_5"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;3&nbsp;
<FONT style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Transactions with Affiliates of the Trustee and Sponsor</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">State Street Bank and Trust Company
(&#8220;SSBT&#8221;), the parent of the Trustee, maintains the Trust&#8217;s accounting records, acts as custodian and transfer agent to the Trust, and provides administrative services, including the filing of certain regulatory reports. The Trustee
pays SSBT for such services. The Trustee oversees the services provided by SSBT and is responsible for determining the composition of the portfolio of securities which must be delivered and/or received in exchange for the issuance and/or redemption
of Creation Units of the Trust, and for adjusting the composition of the Trust&#8217;s portfolio from time to time to conform to changes in the composition and/or weighting structure of the DJIA. For these services, the Trustee received a fee at the
following annual rates for the year ended October 31, 2024:</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:84.48%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:12pt;padding-right:12pt;padding-top:6pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:31.99%;">Net
 asset value of the Trust </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:12pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:12pt;padding-top:6pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:60.16%;">Fee
 as a percentage of net asset value of the Trust </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:12pt;padding-right:12pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:31.99%;">$0
 &#8211; $499,999,999<BR> $500,000,000 &#8211; $2,499,999,999<BR> $2,500,000,000 and above </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:12pt;padding-top:2.38pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:12pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:60.16%;">0.10%
 per annum plus or minus the Adjustment Amount<BR> 0.08% per annum plus or minus the Adjustment Amount<BR> 0.06% per annum plus or minus the Adjustment Amount </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The adjustment amount (the &#8220;Adjustment
Amount&#8221;) is the sum of (a) the excess or deficiency of transaction fees received by the Trustee, less the expenses incurred in processing orders for the creation and redemption of Units and (b) the amounts earned by the Trustee with respect to
the cash held by the Trustee for the benefit of the Trust.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">During the year ended October 31, 2024, the Adjustment
Amount reduced the Trustee&#8217;s fee by $3,398,281. The Adjustment Amount included an excess of net transaction fees from processing orders of $850,473 and a Trustee earnings credit of $2,547,808.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">In accordance with the Trust Agreement and under the
terms of an exemptive order issued by the SEC, dated December 30, 1997, the Sponsor is reimbursed by the Trust for certain expenses up to a maximum of 0.20% of the Trust&#8217;s NAV on an annualized basis. The expenses reimbursed to the Sponsor for
the years ended October 31, 2024, 2023 and 2022, did not exceed 0.20% per annum. The licensing and marketing fee disclosed below are subject to both the reimbursement from the Trust to the Sponsor and expense limitation of 0.20% of the Trust's NAV
for the years ended October 31, 2024, 2023, and 2022. The Trust reimbursed the Sponsor for $505,727, $296,884 and $452,150 of legal fees for the years ended October 31, 2024, 2023, and 2022, respectively, which are included in Legal and audit fees
on the Statements of Operations.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">S&amp;P OPCO LLC
(&#8220;S&amp;P OPCO&#8221;), a subsidiary of S&amp;P Dow Jones Indices LLC (as successor-in-interest to Dow Jones &amp; Company, Inc.), per a license from Standard &amp; Poor&#8217;s Financial Services LLC, and State Street Global Advisors Funds
Distributors, LLC (&#8220;SSGA FD&#8221; or the &#8220;Marketing Agent&#8221;) have entered into a license agreement, as amended from time to time (the &#8220;License Agreement&#8221;). The License Agreement grants SSGA FD, an affiliate of the
Trustee, a license to use the DJIA and to use certain trade names and trademarks of S&amp;P OPCO in connection with the Trust. The DJIA also serves as the basis for determining the composition of the Trust&#8217;s portfolio. The Trustee (on behalf
of the Trust), the Sponsor and NYSE Arca, Inc. (&#8220;NYSE Arca&#8221;, the principal U.S. listing exchange for the Trust) have each received a sublicense from SSGA FD for the use of the DJIA and certain trade names and trademarks in connection
with their rights and duties with respect to the Trust. The License Agreement may be amended without the consent of any</DIV> </DIV> <DIV style="margin-top:15.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">12</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_6"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;3&nbsp;<FONT style="padding-left:1%;"></FONT>&#8212;<FONT
 style="padding-left:1%;"></FONT>&nbsp;Transactions with Affiliates of the Trustee and Sponsor<FONT style="font-weight:Normal;">&nbsp;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&#8211;</FONT><FONT
 style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&nbsp;</FONT>(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:15pt;text-align:justify;text-decoration:none;text-transform:none;">of the owners of beneficial interests of Units. The
License Agreement automatically renews for successive annual periods, unless terminated in accordance with its terms. Pursuant to such arrangements and in accordance with the Trust Agreement, the Trust reimburses the Sponsor for payment of fees
under the License Agreement to S&amp;P OPCO equal to 0.05% on the first $1 billion of the then rolling average asset balance and 0.04% on any excess rolling average asset balance over and above $1 billion. The minimum annual license fee for the
Trust is $1 million.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The Sponsor has entered into
an agreement with the Marketing Agent pursuant to which the Marketing Agent has agreed to market and promote the Trust. The Marketing Agent is reimbursed by the Sponsor for the expenses it incurs for providing such services out of amounts that the
Trust reimburses the Sponsor. Expenses incurred by the Marketing Agent include, but are not limited to: printing and distribution of marketing materials describing the Trust, associated legal, consulting, advertising and marketing costs and other
out-of-pocket expenses.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">ALPS Distributors, Inc.
(the &#8220;Distributor&#8221;) serves as the distributor of the Units. The Sponsor pays the Distributor for its services a flat annual fee of $35,000, and the Trust does not reimburse the Sponsor for this fee.<BR> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;4&nbsp;
<FONT style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Unitholder Transactions</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">Units are issued and redeemed by the Trust only in
Creation Unit size aggregations of 50,000 Units. Such transactions are only permitted on an in-kind basis, with a separate cash payment that is equivalent to the undistributed net investment income per Unit (income equalization) and a balancing cash
component to equate the transaction to the NAV per Unit of the Trust on the transaction date. There is a transaction fee payable to the Trustee in connection with each creation and redemption of Creation Units made through the clearing process (the
&#8220;Transaction Fee&#8221;). The Transaction Fee is non-refundable, regardless of the NAV of the Trust. The Transaction Fee is the lesser of $1,000 or 0.10% (10 basis points) of the value of one Creation Unit at the time of creation per
participating party per day, regardless of the number of Creation Units created or redeemed on such day. The Transaction Fee is currently $1,000. For creations and redemptions outside the clearing process, including orders from a participating party
restricted from engaging in transactions in one or more of the&#160; common stocks that are included in the DJIA, an additional amount not to exceed three (3) times the Transaction Fee applicable for one Creation Unit is charged per Creation Unit
per day.<BR> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;5&nbsp;<FONT
 style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Investment Transactions</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">For the year ended October 31, 2024, the Trust had
in-kind contributions, in-kind redemptions, purchases and sales of investment securities of $27,939,187,281, $26,902,621,010, $1,076,661,743, and $1,077,829,829, respectively. Net realized gain (loss) on investment transactions in the Statement of
Operations includes net gains resulting from in-kind transactions of $3,340,262,554.<BR> </DIV> </DIV> <DIV style="margin-top:37.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">13</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_7"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;6&nbsp;
<FONT style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Equity Investing and Market Risk</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">An investment in the Trust involves risks similar to
those of investing in any fund of equity securities, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates, perceived trends in securities prices, war, acts of terrorism, the spread of
infectious disease or other public health issues. Local, regional or global events such as war, acts of terrorism, the spread of infectious disease or other public health issues, recessions, or other events could have a significant impact on the
Trust and its investments and could result in increased premiums or discounts to the Trust&#8217;s net asset value. For example, conflict, loss of life and disaster connected to ongoing armed conflicts between Ukraine and Russia in Europe and Israel
and Hamas in the Middle East could have severe adverse effects on their respective regions, including significant adverse effects on the regional or global economies and the markets for certain securities. Russia&#8217;s invasion of Ukraine has
resulted in sanctions against Russian governmental institutions, Russian entities, and Russian individuals that may result in the devaluation of Russian currency; a downgrade in the country&#8217;s credit rating; a freeze of Russian foreign assets;
and a decline in the value and liquidity of Russian securities, properties, or interests. These Russian-related sanctions as well as the potential for military escalation and other corresponding events in Europe and the Middle East, and the
resulting disruption of the Russian and Israeli economies, may cause volatility in other regional and global markets and may negatively impact the performance of various sectors and industries, as well as companies in other countries, which could
have a negative effect on the performance of the Trust, even if the Trust does not have direct exposure to securities of Russian or Israeli issuers.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">An investment in the Trust is subject to the risks of
any investment in a broadly based portfolio of equity securities, including the risk that the general level of stock prices may decline, thereby adversely affecting the value of such investment. The value of common stocks actually held by the Trust
and that make up the Trust&#8217;s portfolio (the &#8220;Portfolio Securities&#8221;) may fluctuate in accordance with changes in the financial condition of the issuers of Portfolio Securities, the value of equity securities generally and other
factors. The identity and weighting of common stocks that are included in the DJIA and the Portfolio Securities change from time to time.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The financial condition of issuers of Portfolio
Securities may become impaired or the general condition of the stock market may deteriorate, either of which may cause a decrease in the value of the Trust&#8217;s portfolio and thus in the value of Units. Since the Trust is not actively managed,
the adverse financial condition of an issuer will not result in its elimination from the Trust&#8217;s portfolio unless such issuer is removed from the DJIA. Equity securities are susceptible to general stock market fluctuations and to volatile
increases and decreases in value as market confidence in and perceptions of their issuers change. These investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal
policies, inflation and interest rates, economic expansion or contraction, and global or regional political, economic and banking crises, as well as war, acts of terrorism and the spread of infectious disease, such as COVID-19, or other public
health issues.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">An outbreak of infectious
respiratory illness caused by a novel coronavirus known as COVID-19 was first detected in China in December 2019 and was declared a pandemic by the World Health Organization in March 2020. The impact of COVID-19, and other infectious disease
outbreaks that may arise in the future,</DIV> </DIV> <DIV style="margin-top:16.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">14</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_422f54df-db62-4f91-8a3d-2378d5b8da3b_8"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Financial
Statements&nbsp;&nbsp;(continued)&#160;</DIV> <DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;6&nbsp;<FONT style="padding-left:1%;"></FONT>&#8212;<FONT
 style="padding-left:1%;"></FONT>&nbsp;Equity Investing and Market Risk<FONT style="font-weight:Normal;">&nbsp;</FONT><FONT style="padding-left:1%;"></FONT><FONT style="font-weight:Normal;">&#8211;</FONT><FONT style="padding-left:1%;"></FONT><FONT
 style="font-weight:Normal;">&nbsp;</FONT>(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:15pt;text-align:justify;text-decoration:none;text-transform:none;">could adversely affect the economies of many nations
or the entire global economy, individual issuers and capital markets in ways that cannot necessarily be foreseen. Public health crises caused by the COVID-19 outbreak may exacerbate other pre-existing political, social and economic risks in certain
countries or globally. These factors, as well as any restrictive measures instituted in order to prevent or control a pandemic or other public health crisis, such as the one posed by COVID-19, could have a material and adverse effect on the
Trust&#8217;s investments.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">Holders of common
stocks of any given issuer incur more risk than holders of preferred stocks and debt obligations of the issuer because the rights of common stockholders, as owners of the issuer, generally are subordinate to the rights of creditors of, or holders of
debt obligations or preferred stocks issued by, such issuer. Further, unlike debt securities that typically have a stated principal amount payable at maturity, or preferred stocks that typically have a liquidation preference and may have stated
optional or mandatory redemption provisions, common stocks have neither a fixed principal amount nor a maturity. Equity securities values are subject to market fluctuations as long as the equity securities remain outstanding. The value of the
Trust's portfolio will fluctuate over the entire life of the Trust.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Trust may have significant investments in one or more
specific industries or sectors, subjecting it to risks greater than general market risk.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Trust may invest a larger percentage of its assets in
the securities of a few issuers. As a result, the Trust&#8217;s performance may be disproportionately impacted by the performance of relatively few securities.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">There can be no assurance that the issuers of Portfolio
Securities will pay dividends. Distributions generally depend upon the declaration of dividends by the issuers of Portfolio Securities and the declaration of such dividends generally depends upon various factors, including the financial condition of
the issuers and general economic conditions.<BR> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;7&nbsp;
<FONT style="padding-left:1%;"></FONT>&#8212;<FONT style="padding-left:1%;"></FONT>&nbsp;Subsequent Events</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The Trustee has evaluated the impact of all subsequent
events on the Trust through the date on which the financial statements were issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.</DIV> </DIV>
<DIV style="margin-top:126.50pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">15</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_032e780e-5df7-4b7f-82b3-58c4c479a80e_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Report of Independent Registered Public Accounting
Firm</DIV> <HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:29pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">To the Trustee and Unitholders of SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Opinion on the Financial
Statements</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">We have audited the accompanying
statement of assets and liabilities, including the schedule of investments, of SPDR Dow Jones Industrial Average ETF Trust (the "Trust") as of October 31, 2024, the related statements of operations and of changes in net assets for each of the three
years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2024 (collectively referred to as the &#8220;financial statements&#8221;). In our
opinion, the financial statements present fairly, in all material respects, the financial position of the Trust as of October 31, 2024, the results of its operations and the changes in its net assets for each of the three years in the period ended
October 31, 2024 and the financial highlights for each of the five years in the period ended October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Basis for Opinion</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">These financial statements are the responsibility of
the Trust&#8217;s management. Our responsibility is to express an opinion on the Trust&#8217;s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States)
(PCAOB) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">We conducted our audits of these financial statements
in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">Our audits included performing procedures to assess the
risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in
the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included
confirmation of securities owned as of October 31, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for
our opinion.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">/s/PricewaterhouseCoopers LLP<BR>
Boston, Massachusetts<BR> December 19, 2024</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">We have
served as the auditor of one or more investment companies in the SPDR Trusts since 1993.</DIV> </DIV> <DIV style="margin-top:50.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">16</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_d5087c74-cb37-4f69-8409-e83581ea32a8_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Other Information</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024 (Unaudited)</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">Tax Information</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:14pt;text-align:left;text-decoration:none;text-transform:none;">For U.S. federal income tax purposes, the Trust reports
the maximum amount allowable of its net taxable income as eligible for the corporate dividends received deduction.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">For the fiscal year ended October 31, 2024, certain
dividends paid by the Trust may be designated as qualified dividend income for U.S. federal income tax purposes and are eligible for reduced tax rates in the case of certain non-corporate unitholders that meet applicable holding period requirements
with respect to their Units. Complete information will be reported in conjunction with your 2024 Form 1099-DIV.</DIV> </DIV> <DIV style="margin-top:399.50pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;margin-top:418pt;text-align:center;text-decoration:none;text-transform:none;">17</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_d5087c74-cb37-4f69-8409-e83581ea32a8_2"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">Other Information&nbsp;&nbsp;(continued)&#160;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:12pt;font-style:Normal;font-weight:bold;line-height:15pt;text-align:left;text-decoration:none;text-transform:none;">October 31, 2024 (Unaudited)</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:11pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:center;text-decoration:none;text-transform:none;">FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS<BR>
Bid/Ask Price<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(1)</SUP> vs Net Asset Value<BR> As of October 31, 2024</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:9pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:left;vertical-align:bottom;width:54.15%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:21.23%;" colspan="5">Bid/Ask
 Price Above NAV </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-top:12pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:23.23%;" colspan="5">Bid/Ask
 Price Below NAV </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:2.38pt;text-align:left;vertical-align:bottom;width:54.15%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.74%;">50-99
<BR> BASIS<BR> POINTS </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.74%;">100-199
<BR> BASIS<BR> POINTS </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.74%;">&gt;200
<BR> BASIS<BR> POINTS </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.74%;">50-99
<BR> BASIS<BR> POINTS </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.74%;">100-199
<BR> BASIS<BR> POINTS </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-top:2.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:7.74%;">&gt;200
<BR> BASIS<BR> POINTS </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:54.15%;">
<DIV style="float:left;">2024</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:2.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-top:2.38pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.74%;">0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:54.15%;">
<DIV style="float:left;">2023</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.74%;">0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:54.15%;">
<DIV style="float:left;">2022</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.74%;">0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:54.15%;">
<DIV style="float:left;">2021</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.74%;">0
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:54.15%;">
<DIV style="float:left;">2020</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.74%;">0
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.74%;">0
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:center;text-decoration:none;text-transform:none;">Comparison of Total Returns
Based on NAV and Bid/Ask Price<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(1)</SUP></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">The table below is provided to compare the
Trust&#8217;s total pre-tax return at NAV with the total pre-tax returns based on bid/ask price and the performance of the DJIA. Past performance is not necessarily an indication of how the Trust will perform in the future.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:center;text-decoration:none;text-transform:none;">Cumulative Total Return</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:9pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:left;vertical-align:bottom;width:78.35%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.41%;">1
 Year </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.41%;">5
 Year </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-top:12pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:7.45%;">10
 Year </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:78.35%;">SPDR
 Dow Jones Industrial Average ETF Trust </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:5.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:5.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:7.45%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:7pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:78.35%;">
<DIV style="float:left;">Return Based on
NAV</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">28.60%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">70.01%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.45%;">196.46%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:7pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:78.35%;">
<DIV style="float:left;">Return Based on Bid/Ask
Price</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">28.61%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">69.99%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.45%;">196.66%
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:78.35%;">
<DIV style="float:left;">DJIA</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">28.85%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">71.33%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.45%;">201.02%
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:12pt;text-align:center;text-decoration:none;text-transform:none;">Average Annual Total
Return</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:9pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:left;vertical-align:bottom;width:78.35%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.41%;">1
 Year </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:12pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.41%;">5
 Year </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:3pt;padding-top:12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-bottom:3pt;padding-left:3pt;padding-top:12pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:7.45%;">10
 Year </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:3pt;padding-top:2.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:78.35%;">SPDR
 Dow Jones Industrial Average ETF Trust </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:5.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:5.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:2.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:7.45%;">&#160; </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:7pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:78.35%;">
<DIV style="float:left;">Return Based on
NAV</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">28.60%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">11.20%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.45%;">11.48%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:7pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:78.35%;">
<DIV style="float:left;">Return Based on Bid/Ask
Price</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">28.61%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-right:3pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">11.20%
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:1.5pt;padding-left:10pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.45%;">11.49%
 </TD></TR>
<TR bgcolor="#DEE9F6" style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:0pt;padding-right:3pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:78.35%;">
<DIV style="float:left;">DJIA</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">28.85%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-right:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:5.41%;">11.37%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:3pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:6pt;padding-left:3pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:7.45%;">11.65%
 </TD></TR></TABLE> </DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-left:0pt;padding-right:3pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:3.00%;">(1)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;padding-left:3pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.61%;">The
bid/ask price is the midpoint of the best bid and best offer prices on NYSE Arca at the time the Trust&#8217;s NAV is calculated, ordinarily 4:00 p.m. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:55pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">18</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
 <DIV style="width:100%;"> <A name="xx_bb239429-9521-409e-bf7d-4e39811d7632_1"> </A>
<DIV style="font-family:Arial;font-size:7pt;line-height:10pt;font-weight:Normal;text-transform:none;text-align:left;vertical-align:bottom;padding-bottom:10pt;"> <A href="#job_spdr__e55ec869-25f4-4d97-b0ee-35cd1b06bf69_toc-notebook"> Table of Contents
 </A> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">SPDR Dow Jones Industrial
Average ETF Trust</DIV> <DIV style="color:#000000;font-family:Arial;font-size:14pt;font-style:Normal;font-weight:bold;line-height:17pt;text-align:left;text-decoration:none;text-transform:none;">(Unaudited)</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:1pt solid #000000;height:1pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:29pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:15pt;text-align:left;text-decoration:none;text-transform:none;"><FONT style="text-decoration:underline;">Sponsor</FONT></DIV>
 <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">PDR Services LLC<BR> c/o NYSE Holdings LLC<BR> 11 Wall
Street<BR> New York, NY 10005</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:15pt;text-align:left;text-decoration:none;text-transform:none;"><FONT
 style="text-decoration:underline;">Trustee</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">State Street Global Advisors Trust Company<BR> One Iron
Street<BR> Boston, MA 02210</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:15pt;text-align:left;text-decoration:none;text-transform:none;"><FONT
 style="text-decoration:underline;">Distributor</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">ALPS Distributors, Inc.<BR> 1290 Broadway Suite 1000<BR>
Denver, CO 80203</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:bold;line-height:13.5pt;margin-top:15pt;text-align:left;text-decoration:none;text-transform:none;"><FONT
 style="text-decoration:underline;">Independent Registered Public Accounting Firm</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10.5pt;font-style:Normal;font-weight:Normal;line-height:13.5pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">PricewaterhouseCoopers LLP<BR> 101 Seaport Boulevard,
Suite 500<BR> Boston, MA 02210</DIV> </DIV> <DIV style="width:28.84%;" type="Block"> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:45.10%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:right;text-decoration:none;text-transform:none;">SPDRDIAAR</DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> </BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g869228img63fb81261.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g869228img63fb81261.jpg
M_]C_X  02D9)1@ ! 0$ 9 !D  #_X@H@24-#7U!23T9)3$4  0$   H0
M  (0  !M;G1R4D="(%A96B                !A8W-P05!03
M                        ]M4  0    #3+
M                                              ID97-C    _
M 'QC<')T   !>    "AW='!T   !H    !1B:W!T   !M    !1R6%E:   !
MR    !1G6%E:   !W    !1B6%E:   !\    !1R5%)#   "!   " QG5%)#
M   "!   " QB5%)#   "!   " QD97-C         ")!<G1I9F5X(%-O9G1W
M87)E('-21T(@24-#(%!R;V9I;&4              ")!<G1I9F5X(%-O9G1W
M87)E('-21T(@24-#(%!R;V9I;&4
M            =&5X=     !#;W!Y<FEG:'0@07)T:69E>"!3;V9T=V%R92 R
M,#$Q %A96B        #S40 !     1;,6%E:(                     !8
M65H@        ;Z(  #CU   #D%A96B        !BF0  MX4  !C:6%E:(
M     "2@   /A   ML]C=7)V        !      %  H #P 4 !D '@ C "@
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M,C(R,C(R,O_  !$( !@!"P,!(@ "$0$#$0'_Q  ?   !!0$! 0$! 0
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MV9Y+X<TR]\1ZNNGPWS0NR,^]V8CCZ5T?Q%>YBU71]'BF9I(+.-"4)&YR<?\
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
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
