Fund Description: SPDR MSCI USA Quality Mix ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR Series Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The SPDR MSCI USA Quality Mix ETF seeks to replicate as closely as possible, before fees and expenses, the total return performance of the MSCI USA Quality Mix A-Series Index. INDEX DESCRIPTION: The MSCI USA Quality Mix A-Series Index is designed to measure the equity market performance of large-and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility. The Index is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI USA Value Weighted Index, the MSCI USA Quality Index, and the MSCI USA Minimum Volatility Index (each, a Component Index). Each Component Index is attributed equal weight (1/3) at each rebalancing. All constituents of each Component Index are included in the Index. The weight of each security in the Index is determined based on 1) the security's weight in each underlying Component Index; and 2) the weight of each underlying Component Index in the Index. The Index is then subject to the MSCI A-Series Index Methodology which first seeks to ensure the Index includes at least 25 constituents, then aims to reflect 5/25/50 weight constraints (i.e., no issuer has a weight above 25%, and the sum of weights of all issuers with weights above 5% does not exceed 50%). The Index is rebalanced semi-annually, usually as of the close of the last business day of May and November, coinciding with the semi-annual index reviews of the MSCI Global Investable Market Indices and of each Component Index. FUND STRATEGY: In seeking to track the performance of the Index, the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index (including common stock, preferred stock, depositary receipts and shares of other investment companies). The Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds. FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund.