Edgar Filing: SPDR GOLD TRUST

ETF TRADING REPORT SEPTEMBER 2017

Filed Pursuant To Rule 433

Registration No. 333-217785

October 23, 2017

LOGO

SPDR® ETF Trading Report
INVESTMENT PROFESSIONAL USE ONLY
September 2017
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
US Core
SPY SPDR S&P 500® ETF 0.01 0.00 0.01 64,320,264 16,011,684,649 62,006,496 14,751 14,534 3,672,114 3,582,631 264 0.20 177,764,895
MDY SPDR S&P MidCap 400® ETF 0.06 0.02 0.07 871,343 278,408,382 1,023,246 2,378 2,025 759,819 643,667 124 0.40 2,412,861
SLY SPDR S&P 600 Small Cap ETF 0.27 0.22 0.25 16,829 2,111,612 17,726 1,674 1,324 210,037 163,342 99 0.50 7,150
DIA SPDR Dow Jones Industrial Average ETF Trust 0.01 0.01 0.02 2,169,835 480,604,568 2,384,008 1,863 1,634 412,636 357,666 124 0.30 6,820,169
THRK SPDR Russell 3000 ETF 0.31 0.16 0.45 21,702 4,038,046 16,685 1,092 1,592 203,188 292,848 93 0.30 575,098
TWOK SPDR Russell 2000® ETF 0.26 0.31 0.24 7,855 662,508 11,815 1,875 4,418 158,156 368,373 83 0.50 22,576
ONEK SPDR Russell 1000 ETF 0.23 0.19 0.39 4,890 571,902 4,163 924 2,108 108,062 244,212 102 0.30 19,313
SMD SPDR S&P 1000 ETF 0.27 0.29 0.50 6,345 590,054 3,957 1,388 1,527 129,070 141,370 168 0.50 1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.10 0.17 0.13 13,568 820,490 11,127 1,187 1,184 71,778 71,099 146 0.30 7,814
SHE SPDR SSGA Gender Diversity Index ETF 0.06 0.09 0.06 2,296 158,275 2,680 7,969 7,836 549,223 533,240 140 0.30 52,457
US Style
SPYG SPDR S&P 500 Growth ETF 0.09 0.08 0.15 22,694 2,799,390 25,831 541 1,927 66,732 234,420 105 0.30 6,870
SPYV SPDR S&P 500 Value ETF 0.10 0.09 0.21 7,853 905,101 7,865 614 1,429 70,770 163,420 104 0.30 13,097
MDYG SPDR S&P 400 Mid Cap Growth ETF 0.14 0.09 0.27 21,339 3,086,463 60,909 482 2,140 69,716 304,629 96 0.30 18,916
MDYV SPDR S&P 400 Mid Cap Value ETF 0.08 0.09 0.17 21,370 2,063,140 88,041 1,044 4,728 100,788 448,214 96 0.40 10,375
SLYG SPDR S&P 600 Small Cap Growth ETF 0.53 0.24 0.61 16,733 3,668,784 32,944 3,075 2,706 674,225 579,544 76 0.50 4,200
SLYV SPDR S&P 600 Small Cap Value ETF 0.23 0.19 0.25 27,394 3,289,890 49,917 1,828 1,853 219,543 218,395 112 0.50 15,102
US Sector
XLY Consumer Discretionary Select Sector SPDR Fund 0.01 0.01 0.01 4,083,644 366,116,044 3,882,794 8,089 7,798 725,179 700,962 168 0.40 9,647,937
XLP Consumer Staples Select Sector SPDR Fund 0.01 0.02 0.01 11,604,328 635,965,096 10,269,039 82,907 73,119 4,543,304 4,018,620 431 0.40 40,632,290
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
US Sector (cont’d)
XLE Energy Select Sector SPDR Fund 0.01 0.02 0.01 12,980,336 859,621,903 13,568,220 22,950 19,880 1,519,749 1,294,586 230 0.70 33,590,586
XLF Financial Select Sector SPDR Fund 0.01 0.04 0.01 58,455,126 1,453,647,150 53,498,281 1,012,161 973,788 25,172,444 24,276,535 1,348 0.70 66,576,412
XLV Health Care Select Sector SPDR Fund 0.01 0.01 0.01 6,612,680 541,882,093 6,464,664 14,050 14,392 1,151,398 1,155,965 253 0.40 25,624,333
XLI Industrial Select Sector SPDR Fund 0.01 0.01 0.01 8,429,260 582,883,866 8,345,164 27,875 25,048 1,927,556 1,718,543 302 0.30 23,499,707
XLB Materials Select Sector SPDR Fund 0.01 0.02 0.01 4,466,406 250,032,668 3,977,581 24,887 22,069 1,393,174 1,215,119 237 0.40 13,377,535
XLK Technology Select Sector SPDR Fund 0.01 0.02 0.01 8,547,381 500,529,565 9,492,935 64,466 58,592 3,775,129 3,367,868 305 0.50 31,065,882
XLU Utilities Select Sector SPDR Fund 0.01 0.02 0.01 12,260,774 664,778,385 10,610,600 34,340 32,535 1,861,915 1,743,551 328 0.60 47,437,739
XLRE Real Estate Select Sector SPDR Fund 0.01 0.03 0.01 1,710,887 55,937,568 1,611,608 50,412 47,550 1,648,472 1,543,949 467 0.50 3,411,932
US Industry
KBE SPDR S&P Bank ETF 0.01 0.03 0.01 2,733,946 115,528,691 2,103,678 5,895 4,882 249,123 208,998 198 1.00 3,947,773
KCE SPDR S&P Capital Markets ETF 0.10 0.20 0.10 6,469 324,392 8,689 2,434 2,921 122,041 146,693 304 0.70 5,587
KIE SPDR S&P Insurance ETF 0.05 0.06 0.06 229,956 20,077,567 141,789 1,707 1,727 149,038 153,168 133 0.80 299,043
KRE SPDR S&P Regional Banking ETF 0.01 0.02 0.01 5,940,017 315,490,961 4,952,930 4,206 3,622 223,381 194,248 172 1.10 22,426,278
XBI SPDR S&P Biotech ETF 0.04 0.05 0.05 3,204,438 269,995,284 3,654,333 1,920 1,633 161,779 130,738 154 0.70 24,841,768
XNTK SPDR NYSE Technology ETF 0.18 0.22 0.18 11,478 898,653 3,644 3,050 3,050 238,785 238,785 109 0.40 9,600
XHB SPDR S&P Homebuilders ETF 0.01 0.03 0.01 1,741,188 67,606,584 1,623,079 13,353 12,811 518,497 492,839 209 0.60 10,852,713
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
2

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
US Industry (cont’d)
XME SPDR S&P Metals & Mining ETF 0.01 0.03 0.01 2,405,339 77,539,230 2,591,744 5,393 5,116 173,870 160,694 181 0.80 10,486,838
XES SPDR S&P Oil & Gas Equipment & Services ETF 0.02 0.10 0.02 592,547 9,274,965 517,561 8,837 8,822 138,299 132,683 217 1.60 543,789
XITK SPDR FactSet Innovative Technology ETF 0.11 0.15 0.11 1,875 143,252 2,054 360 404 27,504 29,908 202 0.50 2,178
XOP SPDR S&P Oil & Gas Exploration & Production ETF 0.01 0.03 0.01 15,603,461 501,828,711 15,114,916 16,081 13,988 517,165 440,342 259 1.10 72,071,481
XPH SPDR S&P Pharmaceuticals ETF 0.04 0.09 0.04 98,372 4,216,147 89,884 1,849 2,051 79,248 86,470 166 0.70 1,127,597
XRT SPDR S&P Retail ETF 0.01 0.03 0.01 3,502,013 143,048,790 3,956,548 6,903 6,074 281,988 244,053 182 0.70 21,642,976
XSD SPDR S&P Semiconductor ETF 0.04 0.07 0.04 52,149 3,333,978 66,212 1,378 1,554 88,096 98,788 141 0.90 364,232
XHE SPDR S&P Health Care Equipment ETF 0.24 0.38 0.22 9,053 564,749 11,997 3,423 2,549 213,527 156,458 100 0.40 36,293
XTL SPDR S&P Telecom ETF 0.23 0.34 0.27 7,355 505,635 13,227 1,608 1,757 110,550 123,341 71 0.60 4,271
XAR SPDR S&P Aerospace & Defense ETF 0.05 0.07 0.06 144,891 11,218,936 126,685 1,588 1,709 122,959 128,243 114 0.50 2,263,890
XHS SPDR S&P Health Care Services ETF 0.16 0.26 0.13 6,489 389,753 8,061 1,654 1,548 99,339 94,474 121 0.70 12,591
XSW SPDR S&P Software & Services ETF 0.13 0.19 0.13 2,246 146,063 5,049 1,712 1,816 111,331 114,481 151 0.40 1,216
XTH SPDR S&P Technology Hardware ETF 0.24 0.31 0.28 605 36,448 345 4,747 4,564 358,209 341,844 77 1.00 10,993
XTN SPDR S&P Transportation ETF 0.05 0.09 0.06 21,208 1,236,026 23,390 1,637 2,261 95,404 127,046 172 0.60 15,064
XWEB SPDR S&P Internet ETF 0.25 0.35 0.27 307 19,669 299 4,836 4,407 347,853 310,253 11 0.80 1,079
Real Estate Equities
RWR SPDR Dow Jones REIT ETF 0.05 0.05 0.05 120,252 11,220,839 122,594 1,570 1,761 146,497 163,703 91 0.50 44,436
RWO SPDR Dow Jones Global Real Estate ETF 0.05 0.10 0.05 238,632 11,452,884 183,605 1,385 1,333 66,466 63,904 163 0.40 90,873
RWX SPDR Dow Jones International Real Estate ETF 0.02 0.04 0.01 474,082 18,458,032 450,247 5,409 5,306 210,572 205,554 263 0.40 1,895,733
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
3

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
Global Equities
DGT SPDR Global Dow ETF 0.46 0.58 0.45 1,015 75,760 1,269 549 508 43,893 39,924 85 0.50 1,350
GII SPDR S&P Global Infrastructure ETF 0.16 0.31 0.16 18,299 968,638 15,339 794 1,047 42,026 54,329 148 0.40 5,861
GNR SPDR S&P Global Natural Resources ETF 0.05 0.11 0.06 105,217 4,811,696 99,835 938 1,220 42,895 53,814 152 0.40 156,090
CWI SPDR MSCI ACWI ex-US ETF 0.02 0.06 0.03 106,864 4,020,233 168,529 12,700 8,193 477,774 300,683 340 0.40 63,383
ACIM SPDR MSCI ACWI IMI ETF 0.32 0.43 0.35 2,949 219,947 4,837 410 416 30,586 30,451 37 0.30 3,110
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.52 0.73 0.40 1,351 95,148 3,368 292 478 20,714 33,618 104 0.90 5,765
GWL SPDR S&P World ex-US ETF 0.04 0.13 0.04 60,142 1,824,462 80,746 11,428 9,047 346,726 269,782 376 0.30 63,388
GWX SPDR S&P International Small Cap ETF 0.08 0.23 0.07 54,120 1,879,250 50,981 1,473 1,378 51,143 47,059 305 0.30 55,374
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.12 0.14 0.12 1,732 144,598 1,207 973 1,039 83,474 88,180 50 0.30 821
International Developed Equities - Region/Country
FEZ SPDR EURO STOXX 50 ETF 0.01 0.02 0.01 2,493,244 101,533,477 2,368,168 91,731 82,507 3,735,286 3,291,204 525 0.50 6,418,557
FEU SPDR STOXX Europe 50 ETF 0.07 0.20 0.06 27,430 962,326 36,413 961 1,226 33,712 42,346 192 0.40 12,186
SMEZ SPDR EURO STOXX Small Cap ETF 0.16 0.25 0.15 3,804 172,944 2,899 670 783 41,681 47,050 128 0.50 2,373
Emerging Market Equities
GMM SPDR S&P Emerging Markets ETF 0.15 0.21 0.16 38,788 2,850,287 44,474 514 868 37,769 61,081 84 0.60 12,997
GMF SPDR S&P Emerging Asia Pacific ETF 0.16 0.16 0.18 30,301 3,025,441 21,945 490 590 48,927 57,655 124 0.60 23,349
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free
EEMX ETF 0.69 1.03 0.67 589 36,603 1,080 289 463 19,323 30,248 85 0.90 2,602
EWX SPDR S&P Emerging Markets Small Cap ETF 0.09 0.18 0.09 58,911 2,943,351 55,680 771 923 38,519 44,913 151 0.60 58,991
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
4

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
Emerging Market Equities (cont’d)
GXC SPDR S&P China ETF 0.13 0.13 0.13 53,996 5,488,845 63,821 367 449 37,306 43,751 73 0.80 17,807
XINA SPDR MSCI China A Shares IMI ETF 0.17 0.70 0.19 111 1,958 61 129 141 3,106 3,314 19 3.20 485
Advanced Beta - Income
EDIV SPDR S&P Emerging Markets Dividend ETF 0.07 0.23 0.07 50,297 1,568,412 48,815 949 899 29,590 27,887 183 0.60 38,815
DWX SPDR S&P International Dividend ETF 0.07 0.17 0.07 110,114 4,486,894 122,291 1,618 1,797 65,934 72,275 201 0.40 62,425
SDY SPDR S&P Dividend ETF 0.02 0.02 0.02 343,604 31,040,110 370,424 1,465 1,596 132,348 142,938 181 0.20 507,351
WDIV SPDR S&P Global Dividend ETF 0.09 0.13 0.08 9,628 652,515 11,975 578 606 39,171 40,784 131 0.30 2,645
SPYD SPDR S&P 500 High Dividend ETF 0.06 0.17 0.06 37,292 1,338,071 42,136 5,279 5,492 189,411 194,856 144 0.30 5,299
Advanced Beta - Multi Factor
QCAN SPDR MSCI Canada StrategicFactors ETF 0.06 0.09 0.06 3,230 189,779 1,852 763 795 45,131 46,333 126 0.30 27
QDEU SPDR MSCI Germany StrategicFactors ETF 0.06 0.09 0.06 1,198 777 932 969 980 2,772 59,996 242 0.60 6,108
QJPN SPDR MSCI Japan StrategicFactors ETF 0.26 0.36 0.26 184 10,055 720 440 453 32,688 32,729 42 0.60 478
QGBR SPDR MSCI United Kingdom StrategicFactors ETF 0.15 0.28 0.15 1,337 68,248 4,190 803 908 42,158 47,298 96 0.40 693
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.27 0.43 0.33 14,126 893,172 16,862 1,358 1,072 85,866 66,796 156 0.30 4,680
QWLD SPDR MSCI World StrategicFactors ETF 0.78 1.09 0.70 1,005 68,373 1,997 776 664 55,259 46,553 161 0.80 141
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.33 0.54 0.28 7,908 488,853 8,100 683 776 42,223 47,064 112 0.50 95,142
QUS SPDR MSCI USA StrategicFactors ETF 0.09 0.12 0.17 2,968 211,386 7,935 311 314 22,345 22,212 105 0.30 1,824
Advanced Beta - Single Factor
SPYB SPDR S&P 500 Buyback ETF 0.14 0.24 0.11 824 45,213 538 4,149 3,967 236,908 224,929 21 0.60 9,403
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
5

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
Advanced Beta - Single Factor (cont’d)
VLU SPDR S&P 1500 Value Tilt ETF 0.65 0.69 0.62 591 53,490 502 620 649 58,578 60,571 71 0.60 4,528
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.53 0.51 0.50 1,216 126,641 740 649 691 68,379 72,403 81 0.40 2,888
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF 0.40 0.46 0.43 2,643 232,040 2,100 546 555 47,944 48,579 79 0.30 4,767
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.32 0.34 0.36 9,093 846,761 7,357 2,837 2,873 264,181 264,575 75 0.50 12,701
ONEY SPDR Russell 1000 Yield Focus ETF 0.31 0.44 0.30 945 27,646 956 5,547 3,976 387,735 277,525 581 0.80 301
ONEO SPDR Russell 1000 Momentum Focus ETF 0.39 0.54 0.40 4,006 284,588 3,400 1,204 1,068 85,532 75,123 89 0.40 50,435
ONEV SPDR Russell 1000 Low Volatility Focus ETF 0.28 0.40 0.31 10,217 720,780 7,972 1,208 1,079 85,478 76,674 316 0.50 55,313
Advanced Beta - Fixed Income
SPDR Bloomberg Barclays Issuer Scored Corporate Bond
CBND ETF 0.12 0.38 0.14 1,554 48,455 5,457 978 449 31,746 14,512 33 0.20 1,086
Fixed Income - US Government
BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 0.01 0.02 0.01 517,710 23,671,468 548,570 1,334,575 1,522,363 61,016,769 69,617,660 570 0.00 439,249
ITE SPDR Bloomberg Barclays Intermediate Term Treasury ETF 0.06 0.10 0.06 36,717 2,213,228 76,231 9,924 10,145 598,219 610,729 267 0.10 24,646
TLO SPDR Bloomberg Barclays Long Term Treasury ETF 0.05 0.06 0.08 73,434 5,377,124 57,573 1,736 1,770 127,110 128,343 233 0.50 50,222
IPE SPDR Bloomberg Barclays TIPS ETF 0.06 0.11 0.06 33,752 1,916,493 34,752 6,628 5,366 376,338 302,750 161 0.20 9,455
SST SPDR Bloomberg Barclays Short Term Treasury ETF 0.03 0.11 0.04 12,394 374,444 13,834 15,463 10,326 467,137 311,845 339 0.10 4,588
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF 0.03 0.16 0.05 27,598 539,765 17,522 2,103 1,817 41,135 35,450 425 0.20 47,438
Fixed Income - US Investment Grade Corporates
SCPB SPDR Bloomberg Barclays Short Term Corporate Bond ETF 0.01 0.03 0.01 436,916 13,402,259 472,475 23,158 23,189 710,256 711,207 334 0.00 85,937
SPDR Bloomberg Barclays Intermediate Term Corporate
ITR Bond ETF 0.01 0.04 0.02 546,202 18,878,824 470,593 11,633 10,684 402,036 369,025 349 0.10 27,417
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
6

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
Fixed Income - US Investment Grade Corporates (cont’d)
LWC SPDR Bloomberg Barclays Long Term Corporate Bond ET 0.13 0.30 0.13 28,855 1,209,941 49,953 3,240 4,989 135,853 208,590 227 0.40 8,324
SPDR Bloomberg Barclays Investment Grade Floating Rate
FLRN ETF 0.01 0.04 0.01 221,412 6,797,570 235,895 8,332 9,253 255,792 284,160 245 0.00 38,972
Fixed Income - High Yield
JNK SPDR Bloomberg Barclays High Yield Bond ETF 0.01 0.03 0.01 6,818,216 253,201,814 8,918,474 95,200 108,188 3,535,728 4,011,611 517 0.10 37,581,363
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF 0.01 0.04 0.01 1,122,184 31,257,054 1,378,712 42,882 40,604 1,194,264 1,131,227 442 0.10 1,610,367
CJNK SPDR BofA Merrill Lynch Crossover Corporate Bond ETF 0.18 0.67 0.16 9,007 240,527 8,950 537 535 14,338 14,215 159 0.20 9,241
Fixed Income - US Mortgage
MBG SPDR Bloomberg Barclays Mortgage Backed Bond ETF 0.06 0.24 0.07 52,083 1,370,878 38,752 1,862 3,626 49,008 95,255 160 0.10 10,374
Fixed Income - US Aggregate
BNDS SPDR Bloomberg Barclays Aggregate Bond ETF 0.05 0.09 0.06 41,457 2,401,025 38,659 4,522 2,903 261,914 167,648 212 0.10 62,794
Fixed Income - Hybrids
CWB SPDR Bloomberg Barclays Convertible Securities ETF 0.01 0.02 0.01 1,036,785 52,785,648 1,111,265 3,044 2,506 154,970 126,603 151 0.30 859,144
PSK SPDR Wells Fargo Preferred Stock ETF 0.04 0.10 0.06 59,577 2,674,289 48,207 7,976 9,314 358,043 419,503 148 0.20 26,213
Fixed Income - Municipal
SPDR Nuveen Bloomberg Barclays Short Term Municipal
SHM Bond ETF 0.02 0.03 0.01 318,975 15,553,146 274,455 9,526 10,907 464,488 531,607 350 0.00 186,535
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF 0.02 0.04 0.02 206,950 10,176,948 213,445 2,507 3,275 123,294 160,704 130 0.10 141,072
HYMB SPDR Nuveen S&P High Yield Municipal Bond ETF 0.17 0.30 0.15 81,139 4,659,706 72,456 674 705 38,708 40,319 173 0.20 17,695
Fixed Income - International
SPDR Citi International Government Inflation-Protected
WIP Bond ETF 0.21 0.36 0.18 21,931 1,273,308 20,647 731 842 42,442 48,019 103 0.40 19,287
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
7

LOGO

SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 9/15/2017
Fixed Income - International (cont’d)
SPDR Bloomberg Barclays Short Term International
BWZ Treasury Bond ETF 0.17 0.54 0.17 38,824 1,252,535 27,905 920 932 29,679 29,815 306 0.30 38,792
BWX SPDR Bloomberg Barclays International Treasury Bond ETF 0.02 0.09 0.03 567,892 16,233,427 489,114 1,340 1,317 38,311 37,205 176 0.40 495,435
SPDR Bloomberg Barclays International Corporate Bond
IBND ETF 0.09 0.26 0.10 32,279 1,126,845 48,729 983 1,006 34,317 34,405 158 0.50 10,095
SPDR Bloomberg Barclays Emerging Markets Local Bond
EBND ETF 0.11 0.36 0.10 113,045 3,407,375 59,818 1,387 2,271 41,804 68,016 331 0.30 100,283
Commodity
GLD® SPDR Gold Trust® 0.01 0.01 0.01 8,711,715 1,089,445,648 7,656,000 12,057 12,452 1,507,848 1,519,767 212 0.70 18,457,313
NANR SPDR S&P North American Natural Resources ETF 0.07 0.21 0.06 24,322 813,367 29,115 1,709 1,698 57,149 54,693 172 0.40 28,165
Active - Asset Allocation
RLY SPDR SSgA Multi-Asset Real Return ETF 0.11 0.42 0.10 14,690 370,492 18,964 8,089 7,230 204,005 177,786 214 0.40 4,994
INKM SPDR SSgA Income Allocation ETF 0.09 0.28 0.09 5,512 183,095 5,520 9,841 10,117 326,918 332,445 221 0.20 1,623
GAL SPDR SSgA Global Allocation ETF 0.06 0.15 0.07 12,807 470,923 14,771 7,119 7,937 261,766 288,113 142 0.20 19,720
DWFI SPDR Dorsey Wright Fixed Income Allocation ETF 0.04 0.16 0.05 35,174 906,016 33,112 6,208 4,828 159,918 124,080 504 0.47 26,650
Active - Equity
SYE SPDR MFS Systematic Core Equity ETF 0.28 0.40 0.24 746 52,080 4,106 2,419 1,428 170,128 99,646 49 0.40 620
SYG SPDR MFS Systematic Growth Equity ETF 0.28 0.38 0.27 2,003 149,428 3,296 1,013 1,007 75,570 73,863 79 0.40 9,881
SYV SPDR MFS Systematic Value Equity ETF 0.16 0.26 0.16 339 19,404 282 1,296 1,385 79,885 84,222 51 0.60 146
Active - Fixed Income
TOTL SPDR DoubleLine Total Return Tactical ETF 0.02 0.04 0.03 357,934 17,679,634 321,164 3,896 4,653 192,423 229,579 209 0.10 77,271
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF 0.11 0.21 0.11 2,475 126,981 13,750 3,114 8,363 159,596 424,186 270 0.25 960
Source: NYSE, Nasdaq and BATS as of 9/31/2017. Past performance is not a guarantee of future results.
State Street Global Advisors
8

LOGO

SPDR® ETF Trading Report
ssga.com | spdrs.com
State Street Global Advisors One Lincoln Street, Boston, MA 02111-2900. T: +1 617 786 3000.
Important Risk Information
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.
While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.
Commodities and commodity-index linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as trading activity of speculators and arbitrageurs in the underlying commodities. Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.
Diversification does not ensure a profit or guarantee against loss.
Investing in commodities entails significant risk and is not appropriate for all investors. Important Information Relating to SPDR Gold Trust (“GLD®”):
The SPDR Gold Trust (“GLD”) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents GLD has filed with the SEC for more complete information about GLD and this offering. Please see the GLD prospectus for a detailed discussion of the risks of investing in GLD shares. When distributed electronically, the GLD prospectus is available by clicking here. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus if you request it by calling 866.320.4053.
GLD is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and is not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders of the Trust do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.
GLD shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value of GLD shares relates directly to the value of the gold held by GLD (less its expenses), and fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLD does not generate any income, and as GLD regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Share will decline over time to that extent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto.
For more information, please contact the Marketing Agent for GLD: State Street Global Advisors Funds Distributors, LLC, One Lincoln Street, Boston, MA, 02111; T: +1 866 320 4053 spdrgoldshares.com
The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data.
State Street Global Advisors and SSGA are registered trademarks of State Street Corporation.
There is no relationship between Dorsey Wright & Associates, LLC (collectively with its parent companies and affiliates, “Dorsey Wright”) and State Street Global Advisors (“SSGA”) other than a license by Dorsey Wright to SSGA of certain Dorsey Wright trademarks and trade names, and the Dorsey Wright Fixed Income Rotation Index (“Index”), for use by SSGA.
BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licensed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, and all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc. is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State State Street Global Advisors Funds Distributors, LLC.
State Street Global Advisors Funds Distributors, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained Nuveen Asset Management, LLC as the sub-advisor to certain of such funds. State Street Global Advisors Funds Distributors, LLC is not affiliated with Nuveen Asset Management, LLC
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
State Street Global Advisors
© 2017 State Street Corporation. All Rights Reserved.
IBG-25606 Exp. Date: 10/31/2017 SPD001458

SPDR® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold Shares, 30th Floor, Boston, MA 02111.