Fund Description: SPDR Portfolio S&P 500 High Dividend ETF, formerly SPDR S&P 500 High Dividend ETF, is an exchange-traded index fund or Index ETF which is a separate portfolio of the SPDR Series Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The SPDR Portfolio S&P 500 High Dividend ETF seeks to provide investment results that, before expenses, correspond generally to the total return performance of the S&P 500 High Dividend Index. INDEX DESCRIPTION: The S&P 500 High Dividend Index is designed to measure the performance of the top 80 dividend-paying securities listed on the S&P 500 Index, based on dividend yield. The S&P 500 Index focuses on the large capitalization U.S. equity market, including common stock and real estate investment trusts (REITs). To determine dividend yield: (i) an indicated dividend is measured by taking the latest dividend paid (excluding special payments) multiplied by the annual frequency of the payment; and (ii) the indicated dividend is then divided by the company's share price at the date of rebalancing. Index constituents are equally weighted and the Index is rebalanced semi-annually, in January and July. A significant portion of the Index comprised companies in the utilities and financial sectors, although this may change from time to time. 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. The advisor may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index. FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund.