Fund Description: SPDR Portfolio S&P 500 ETF, formerly SPDR Portfolio Large Cap ETF, formerly SPDR Russell 1000 ETF, formerly DJ Wilshire Large Cap 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 Portfolio S&P 500 ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 500 Index, formerly SSGA Large Cap Index, formerly Russell 1000 Index. INDEX DESCRIPTION: The S&P 500 Index is composed of five hundred (500) selected stocks, all of which are listed on national stock exchanges and spans over approximately 24 separate industry groups. FUND STRATEGY: Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. 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. The investment adviser to the Fund, generally expects the Fund to hold less than the total number of securities in the Index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund’s investment objective. 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 including money market funds. FUND MANAGEMENT: SSgA Funds Management, Inc. (SSgA FM) serves as the investment adviser to the Fund.