FUND DESCRIPTION: SPDR S&P Emerging Markets Small Cap ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR Index Shares Fund, an investment management company. INVESTMENT OBJECTIVE: The SPDR S&P Emerging Markets Small Cap ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Emerging Markets Under USD2 Billion Index. INDEX DESCRIPTION: The S&P Emerging Markets Under USD2 Billion Index is a float adjusted market cap weighted Index that represents the small capitalization segment of emerging countries included in the S&P Global BMI Index. The Global BMI Index captures the full universe of institutionally investable stocks in developed and emerging markets with float-adjusted market capitalizations of at least $100 million. Countries covered in the Index have historically included, among others, Argentina, Brazil, Chile, China, the Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Malaysia, Mexico, Morocco, Pakistan, Peru, the Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. As of December 31, 2009, the Index was comprised of 1,518 securities. FUND STRATEGY: The Fund will normally invest at least 80% of its assets in the securities of companies in the Index. The Fund uses a passive management, indexing investment approach, and sampling methodology designed to track the total return performance of the Index. The Fund does not intend to purchase all of the securities in the Index, but rather will utilize a sampling methodology in seeking the Fund's objective. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. The Fund reserves the right to hold as many securities as it believes necessary to achieve the Fund's investment objective. FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund, subject to the supervision of the Board, is responsible for the investment management of the Fund.
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