Fund Description: SPDR S&P Internet 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 S&P Internet ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the S&P Internet Select Industry Index. INDEX DESCRIPTION: The S&P Internet Select Industry Index represents the internet segment of the S&P Total Market Index (S&P TMI). The S&P TMI is designed to track the broad U.S. equity market. The internet segment of the S&P TMI comprises the internet retail sub-industry and internet software & services sub-industry. The Index is one of twenty-one of the S&P Select Industry Indices each designed to measure the performance of a narrow sub-industry or group of sub-industries determined based on the Global Industry Classification Standards (GICS). Membership in the Select Industry Indices is based on the GICS classification, as well as liquidity and market cap requirements. The Index consists of the S&P TMI constituents belonging to the particular GICS sub-industry or group of sub-industries that satisfy the certain criteria. Rebalancing occurs on the third Friday of the quarter ending month. The Index is a modified equal weighted 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. Based on its analysis of these factors, adviser 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. 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 addition, 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.