Fund Description: SPDR Portfolio TIPS ETF, formerly SPDR Barclays TIPS ETF is an exchange-traded index fund or Index ETF that is a separate investment portfolio of the SPDR Series Trust, an open-end management investment company. INVESTMENT OBJECTIVE: The SPDR Portfolio TIPS ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance the Bloomberg Barclays U.S. Government Inflation-Linked Bond Index, formerly Barclays U.S. Government Inflation-linked Bond Index. INDEX DESCRIPTION: The Bloomberg Barclays U.S. Government Inflation-Linked Bond Index is designed to measure the performance of the inflation protected public obligations of the U.S. Treasury, commonly known as TIPS. TIPS are securities issued by the U.S. Treasury that are designed to provide inflation protection to investors. The Index includes publicly issued TIPS that have at least 1 year remaining to maturity on the Index rebalancing date, with an issue size equal to or in excess of $500 million. Bonds must be capital-indexed and linked to an eligible inflation index. The securities must be denominated in U.S. dollars and pay coupon and principal in U.S. dollars. The notional coupon of a bond must be fixed or zero. Bonds must settle on or before the Index rebalancing date. The securities in the Index are updated on the last business day of each month. FUND STRATEGY: 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 or in securities that has been determined to have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. In addition, the Fund may invest in securities that are not included in the Index, futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds. The Fund may also enter into forward currency exchange contracts for hedging purposes. FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund.