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SPDR® S&P® International Telecommunications Sector ETF

Fund Objective

The SPDR® S&P® International Telecommunications Sector ETF aims to track the performance of the S&P Developed Ex-U.S. BMI Telecommunication Services Sector Index as closely as possible. The ETF is physically backed, meaning it purchases the underlying securities of the index in order to gain exposure to the telecommunications sector of developed global markets outside the United States.

SPDR ETFs are managed by State Street Global Advisors, a global leader in asset management with a powerful investment platform and access to every major asset class, capitalisation range and style. Our approach is designed to provide well constructed ETFs with low portfolio turnover, accurate tracking, and lower costs that help investors precisely access the markets they need.

Index Description

The S&P® Developed Ex-U.S. BMI Telecommunication Services Sector Index represents the non-U.S. telecommunications sub-industry of developed countries included in the S&P Broad Market Index (the "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

Fund Information

As of 03/03/2015
ISIN US78463X6408
iNAV Ticker ISTIV
Inception Date 16/07/2008
Exchange Ticker IST
Benchmark S&P Developed Ex-U.S. BMI Telecommunication Services Sector Index
Short Selling Allowed Yes
Options Available No
Gross Expense Ratio 0.40%
Investment Manager SSgA Funds Management, Inc.
Distribution Frequency Quarterly
Exchange NYSE ARCA EXCHANGE
Countries of Registration United States
Base Currency USD
Trading Currency USD
UCITS Compliant No
Domicile United States
Replication Method Physical - Sampled
PEA Eligible No
ISA Eligible No
SIPP Eligible No
UK Reporting Status No

Fund Characteristics

As of 27/02/2015
Average Market Cap (M) $51,115.07
Average Price/Book

Current market price of the stock divided by the most recent reported book value for the prior fiscal year.

1.99
Dividend Yield

Fund Dividend Yield is the annual dividends per share divided by the Net Asset Value per share, expressed as a percentage.

Index Dividend Yield is the weighted average of the underlyings’ indicated annual dividend divided by price, expressed as a percentage.

12.38%
Est. 3-5 Year EPS Growth

Based on the underlying holdings of the fund. The actual earnings estimates for the underlying holdings are provided by FactSet, First Call, I/B/E/S Consensus, and Reuters and are used to calculate a mean 3-5 year EPS growth rate estimate.

9.02%
Price/Earnings Ratio FY1

Closing price divided by the sum of the forecasted fiscal year earnings per share.

18.28
Number of Holdings 62

Index Characteristics

As of 27/02/2015
Average Price/Cash Flow

The weighted average of current share price divided by operating cash flow per share for each security in the fund.

6.04
Average Price/Earnings

The weighted average of current share price divided by the income earned per share for each security in the fund.

17.85
Dividend Yield

Fund Dividend Yield is the annual dividends per share divided by the Net Asset Value per share, expressed as a percentage.

Index Dividend Yield is the weighted average of the underlyings’ indicated annual dividend divided by price, expressed as a percentage.

3.53%
Est. 3-5 Year EPS Growth

Based on the underlying holdings of the fund. The actual earnings estimates for the underlying holdings are provided by FactSet, First Call, I/B/E/S Consensus, and Reuters and are used to calculate a mean 3-5 year EPS growth rate estimate.

8.94%
Price/Earnings Ratio FY1

Closing price divided by the sum of the forecasted fiscal year earnings per share.

18.23
Number of Holdings 76
Return on Equity

The weighted average of the rate of return for each security in the fund. ROE is a measure of how well a company used reinvested earnings to generate additional earnings.

14.13%

Fund Performance

As of 31/01/2015
NAV MARKET VALUE
1 Month 2.70% 2.82%
3 Month 1.85% 0.27%
YTD 2.70% 2.82%
1 Year 3.79% 3.98%
3 Year 12.90% 12.79%
5 Year 9.74% 9.79%
10 Year - -
Since Inception
16/07/2008
5.41% 5.35%

Past performance is not an indicator of future performance. The contained performance data does not take account of the commissions and costs incurred on the issue and redemption, or purchases and sale, of units. If the performance is calculated on the basis of net asset values that are not denominated in the accounting currency of the collective investment scheme, its value may rise or fall as a result of currency fluctuations.

Fund Market Price

As of 27/02/2015
Bid/Ask $26.71
Closing Price $26.74
Day High $26.80
Day Low $26.63
Exchange Volume (Shares)

The Exchange Volume represents the volume of shares traded on the ETF’s primary exchange throughout the previous business day.

6,272
Premium/Discount -0.08%
Premium Discount to Nav Chart

Fund Net Asset Value

Market value of a mutual fund’s and ETF’s total assets, minus liabilities, divided by the number of shares outstanding

As of 27/02/2015
Price $26.73
Shares in Issue 1,800,000
Net Assets $48.12 M
NAV History XLS

Fund Net Cash Amount

As of 27/02/2015
Net Cash Amount $145,598.07

Index Statistics

As of 27/02/2015
Average Market Cap (M) $36,197.32
Average Size
Mean $9,704.91 M
Median $2,517.42 M
Size Range
Largest $91,899.01 M
Smallest $57.60 M

Performance Chart

Annualised
as of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
16/07/2008
NAV 31/01/2015 2.70% 1.85% 2.70% 3.79% 12.90% 9.74% - 5.41%
MARKET VALUE 31/01/2015 2.82% 0.27% 2.82% 3.98% 12.79% 9.79% - 5.35%
Index
S&P Developed Ex-U.S. BMI Telecommunication Services Sector Index
31/01/2015 2.61% 1.91% 2.61% 3.68% 13.43% 9.94% - 5.57%

Past performance is not an indicator of future performance. The contained performance data does not take account of the commissions and costs incurred on the issue and redemption, or purchases and sale, of units. If the performance is calculated on the basis of net asset values that are not denominated in the accounting currency of the collective investment scheme, its value may rise or fall as a result of currency fluctuations.

Performance Graphs

Month End as of 31/01/2015
Inception Date  16/07/2008
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Calendar Performance

As of 31/01/2015
2015 2013 2012 2011 2010 2009
NAV 2.70% 40.65% 1.13% -1.24% 8.19% 15.98%
MARKET VALUE 2.82% 40.42% 2.29% -1.25% 7.83% 12.70%
Index
S&P Developed Ex-U.S. BMI Telecommunication Services Sector Index
2.61% 41.66% 1.80% -1.62% 7.76% 16.12%

This information is annual performance for the calendar year shown with exception of the current year, where performance shown is year to date, and the first year which is partial, due to the fund launching during that year.

Fund Top Holdings

Subject to change.

As of 27/02/2015
Name Weight Shares Held
Vodafone Group PLC 10.04% 1,392,862
Telefonica SA 6.94% 214,176
SoftBank Corp. 6.57% 51,259
Deutsche Telekom AG 6.30% 162,160
BT Group plc 6.27% 427,860
KDDI Corporation 4.73% 32,777
Orange SA 4.62% 121,651
NTT DoCoMo Inc. 4.35% 117,787
Vivendi SA 4.17% 81,912
Singapore Telecommunications Limited 4.15% 643,539
Download All Holdings XLS

Index Top Holdings

As of 27/02/2015
Name Weight
Vodafone Group PLC 10.02%
Telefonica SA 6.90%
SoftBank Corp. 6.56%
Deutsche Telekom AG 6.30%
BT Group plc 6.26%
KDDI Corporation 4.70%
Orange SA 4.61%
NTT DoCoMo Inc. 4.28%
Vivendi SA 4.17%
Singapore Telecommunications Limited 4.10%

Fund Industry Allocation

As of 27/02/2015
<component><componentDisplayValues><displayLabel>Fund Sector Allocation</displayLabel></componentDisplayValues><attributes><value>67.65</value><name>Diversified Telecommunication Services</name></attributes><attributes><value>31.83</value><name>Wireless Telecommunication Services</name></attributes></component>

Index Industry Allocation

As of 27/02/2015
<component><componentDisplayValues><displayLabel>Fund Sector Allocation</displayLabel></componentDisplayValues><attributes><value>68.06</value><name>Diversified Telecommunication Services</name></attributes><attributes><value>31.75</value><name>Wireless Telecommunication Services</name></attributes><attributes><value>0.19</value><name>Unassigned</name></attributes></component>

Fund Country Weights Allocation

As of 27/02/2015
Japan 19.72%
United Kingdom 18.83%
France 10.01%
Germany 8.14%
Spain 7.48%
Singapore 4.64%
Australia 4.35%
Canada 4.23%
Sweden 3.88%
Italy 3.05%
South Korea 2.93%
Norway 2.41%
Switzerland 2.27%
Netherlands 1.93%
Hong Kong 1.46%
Denmark 1.13%
Belgium 0.94%
Finland 0.76%
Israel 0.58%
New Zealand 0.46%
China 0.27%

Performance Net of All Fees.

Risk associated with equity investing include stock values which may fluctuate in response to the activities of individual companies and general market and economic conditions.

The Fund invests by sampling the Index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics which may cause the fund to experience tracking errors relative to performance of the Index.

S&P - In net total return indices, the dividends are reinvested after the deduction of withholding tax. Tax rates are applied at the country level or at the index level.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

The historical values for this index were calculated based on the current S&P Global BMI Equity methodology, the parent index of the S&P Developed Ex-U.S. BMI Sector Capped Indices, using historical component-level data. The historical values were designed to reflect the performance of what would have been the actual components of the Index at the time. Securities meeting the required criteria for inclusion according to the methodology were included; no discretion was employed in the selection outside of applying the criteria. To create the history for the S&P Developed Ex-U.S. BMI Sector Capped Index the following methodology was used:

Index Eligibility: To be eligible for the S&P Developed Ex-U.S. BMI Sector Capped index, companies must first be constituents of the S&P Global BMI Equity index.Eligibility Factors:Market Capitalization. Stocks must have a float-adjusted market capitalization above US$100 million.Liquidity. Stocks must have 12-month average total daily value traded above US$50 million.Domicile . All constituents are members of the developed markets, as defined by the S&PGlobal BMI Equity methodology excluding the United States.Sector Classification. Stocks are classified by the Global Industry Classification Standard (GICS®) ­ a four-tiered industry classification structure. The indices provide geographic and economic balance across the 10 GICS Sectors. These Sectors, consistent across all Standard & Poor's indices, are Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Services, and Utilities.

Index Eligibility: To be eligible for the S&P Developed Ex-U.S. BMI Sector Capped index, companies must first be constituents of the S&P Global BMI Equity index.Eligibility Factors:Market Capitalization. Stocks must have a float-adjusted market capitalization above US$100 million.Liquidity. Stocks must have 12-month average total daily value traded above US$50 million.Domicile . All constituents are members of the developed markets, as defined by the S&PGlobal BMI Equity methodology excluding the United States.Sector Classification. Stocks are classified by the Global Industry Classification Standard (GICS®) - a four-tiered industry classification structure. The indices provide geographic and economic balance across the 10 GICS Sectors. These Sectors, consistent across all Standard & Poor's indices, are Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Services, and Utilities.

Timing of Changes. The index is reviewed quarterly to adjust the index weights if necessary. Quarterly rebalancings will take place on the third Friday of each March, June and December. The September rebalancing will be on September 30 to coincide with the annual reconstitution of the index, effective for October 1. The cut-off date for the data used in the annual reconstitution is the last business day of the prior July. New constituents and index weights will be made available to clients with a five-day notice.Additions. Companies may be added between rebalancings periods due to sector re- classifications, listing of eligible IPOs, and eligible spin-offs.Deletions. Between rebalancings, a company can be deleted from one the ten S&P Developed Ex-U.S. BMI Sector Capped Indices due to corporate events such as mergers, acquisitions, takeovers, delistings, or sector reclassification.

Index Construction: 1. All constituents of the S&P Developed Ex-U.S. BMI Sector Capped index must first be constituents of the S&P Global BMI Equity index. These constituents already meet the size and liquidity criteria. This becomes the initial selection universe. 2. All securities of the United States and constituents of emerging markets, as defined by the S&P Global BMI Equity methodology are removed from the list. 3. Companies are then sorted by sector classification and by float market cap within each sector. 4. The remaining stocks are sorted in decreasing order of their float-adjusted market capitalization within each of its corresponding sector. Each sector then becomes an individual index.5. Index weights are calculated for each of the constituents in each of the sectors. In each of the sector indices, no stock can exceeds 20% of the index; stocks that exceed 5% of the index market cap weight, in aggregate, should not exceed 45% of the index. In order to maintain these thresholds, the market capitalization may be modified to comply with these guidelines. Please note that back-tested performance does not represent actual performance and should not be interpreted as an indication of actual performance. Back-tested index performance is for informational purposes only. Index performance returns do not reflect management fees, transaction costs or expenses that may be associated with a fund that seeks to replicate the performance of an index. Indexes are unmanaged and one cannot invest directly in an index.

Investing in foreign domiciled securities may involve risk of capital loss from unfavorable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

Fund Documents

Important Risk Information

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

Investments in small-sized companies may involve greater risks than in those of larger, better known companies.

Premium Discount to Nav Chart

As of 27/02/2015
Exchange Ticker NAV Closing Price Bid/Ask Premium/Discount
SPDR® S&P® International Telecommunications Sector ETF IST $26.73 $26.74 $26.71 -0.08%
Download Fund Data
Quarter

x axis: # of days y axis: # Premium/Discount percentage

The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.