SPDR ETF Trading Report April 2016

Filed Pursuant To Rule 433

Registration No. 333-209926

May 12, 2016

 

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SPDR® ETF Trading Report

April 2016

Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

US Core

SPY SPDR S&P 500® ETF 0.01 0.00 0.01 90,980,833 19,527,138,769 113,563,755 9,785 8,378 2,025,886 1,661,441 283 0.50 249,430,228 MDY SPDR S&P MidCap 400® ETF 0.04 0.02 0.05 1,663,450 462,418,820 1,776,771 1,177 1,169 311,834 294,214 116 0.70 3,902,560 SLY SPDR S&P 600 Small Cap ETF 0.26 0.26 0.27 14,161 1,506,671 13,755 2,510 2,879 254,564 277,910 97 0.80 12,340 DIA SPDR Dow Jones Industrial Average ETF Trust 0.01 0.01 0.01 3,529,608 635,499,529 4,942,064 3,084 2,947 548,798 496,894 153 0.50 7,201,060 THRK SPDR Russell 3000 ETF 0.64 0.41 0.66 37,797 5,989,211 14,828 1,586 1,714 246,433 263,802 142 0.50 10,947 TWOK SPDR Russell 2000® ETF 0.17 0.26 0.17 3,517 282,406 5,892 4,121 4,308 272,728 265,933 125 0.70 7,545 ONEK SPDR Russell 1000 ETF 0.20 0.21 0.21 2,518 278,572 2,714 2,667 3,294 258,966 305,881 77 0.50 24 RSCO SPDR Russell Small Cap Completeness ETF 0.42 0.55 0.43 2,014 170,148 2,830 2,266 3,234 174,006 236,793 77 0.60 1,392 SPYX SPDR S&P 500 Fossil Fuel Free ETF 0.07 0.14 0.08 2,856 173,995 7,697 3,406 3,437 169,449 163,361 96 0.50 7,216 SHE SPDR SSGA Gender Diversity Index ETF 0.05 0.08 0.05 1,420 114,569 114,996 5,798 3,580 362,607 213,654 127 0.60 4,850

US Style

SPYG SPDR S&P 500 Growth ETF 0.21 0.21 0.20 65,843 6,863,724 54,625 2,917 2,156 293,713 207,666 121 0.50 17,432 SPYV SPDR S&P 500 Value ETF 0.12 0.12 0.12 11,949 1,274,988 9,965 1,924 1,862 189,437 177,747 166 0.60 9,046 MDYG SPDR S&P 400 Mid Cap Growth ETF 0.33 0.28 0.33 14,901 1,848,522 13,872 3,287 3,402 393,980 388,679 150 0.70 19,594 MDYV SPDR S&P 400 Mid Cap Value ETF 0.20 0.26 0.23 18,697 1,600,733 14,740 5,090 5,765 409,898 444,770 134 0.80 20,539 SLYG SPDR

S&P 600 Small Cap Growth ETF 0.44 0.26 0.47 22,033 4,014,351 23,960 2,383 2,620 411,544 434,422 51 0.70 34,044 SLYV SPDR S&P 600 Small Cap Value ETF 0.25 0.25 0.26 32,521 3,281,458 36,903 2,334 2,454 227,145 229,572 90 0.90 40,826

US Sector

XLY Consumer Discretionary Select Sector SPDR Fund 0.01 0.01 0.01 5,680,872 479,774,346 7,362,156 7,216 5,112 570,136 385,087 188 0.50 23,108,993 XLP Consumer Staples Select Sector SPDR Fund 0.01 0.02 0.01 12,780,408 718,386,723 13,568,031 51,470 41,724 2,714,013 2,155,045 399 0.60 42,954,935 XLE Energy Select Sector SPDR Fund 0.01 0.02 0.01 17,969,373 1,213,732,591 23,160,114 8,637 7,412 556,914 444,794 187 1.20 35,853,082 XLF Financial Select Sector SPDR Fund 0.01 0.04 0.01 43,597,936 1,080,077,857 58,127,351 866,899 769,177 19,904,001 16,760,367 1,642 0.80 78,620,055 XLV Health Care Select Sector SPDR Fund 0.01 0.01 0.01 12,297,035 928,945,309 12,666,870 11,824 8,754 828,862 590,895 230 0.80 37,991,609 XLI Industrial Select Sector SPDR Fund 0.01 0.02 0.01 12,018,882 709,597,185 12,524,344 32,267 24,588 1,801,467 1,311,770 323 0.50 26,461,470

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.


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SPDR® ETF Trading Report

Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

US Sector (cont’d)

XLB Materials Select Sector SPDR Fund 0.01 0.02 0.01 5,305,329 249,651,683 6,999,157 21,972 16,388 1,011,591 701,570 249 0.80 14,745,523 XLK Technology Select Sector SPDR Fund 0.01 0.02 0.01 9,898,333 456,937,306 11,590,976 95,009 77,165 4,156,644 3,244,017 453 0.60 20,945,022 XLU Utilities Select Sector SPDR Fund 0.01 0.02 0.01 16,451,348 815,875,267 18,472,420 26,118 22,621 1,263,589 1,073,593 300 0.70 48,506,387 XLFS Financial Services Select Sector SPDR Fund 0.14 0.47 0.07 3,644 118,481 5,874 5,447 6,284 158,671 176,015 177 1.00 2,056 XLRE Real Estate Select Sector SPDR Fund 0.15 0.46 0.14 4,240 155,840 5,002 5,633 6,836 179,355 214,650 186 0.60 10,685

US Industry

KBE SPDR S&P Bank ETF 0.01 0.03 0.01 2,365,165 75,363,723 3,315,436 12,117 11,857 380,958 351,679 218 1.10 6,682,606 KCE SPDR S&P Capital Markets ETF 0.07 0.17 0.04 8,543 357,679 44,211 2,735 2,944 107,157 111,489 78 1.30 19,560 KIE SPDR S&P Insurance ETF 0.04 0.06 0.04 117,142 8,198,467 97,645 2,845 2,829 196,333 189,062 191 0.80 1,063,188 KRE SPDR S&P Regional Banking ETF 0.01 0.03 0.01 5,204,780 207,390,640 6,495,993 8,056 7,042 314,506 259,991 175 1.10 23,349,233 XBI SPDR S&P Biotech ETF 0.03 0.05 0.04 8,078,569 458,173,516 7,494,089 1,686 1,367 94,011 70,852 150 1.60 28,434,899 XHB SPDR S&P Homebuilders ETF 0.01 0.03 0.01 2,781,289 96,696,529 3,197,759 13,987 11,915 479,195 381,042 215 0.70 8,936,191 XME SPDR S&P Metals & Mining ETF 0.01 0.04 0.01 8,188,685 186,038,618 6,956,492 11,121 11,489 249,555 229,780 226 1.90 18,528,839 XES SPDR S&P Oil & Gas Equipment & Services ETF 0.02 0.10 0.02 488,292 8,870,543 639,829 13,232 10,417 237,647 176,672 280 2.10 522,668 XITK SPDR FactSet Innovative Technology ETF 0.07 0.13 0.07 1,225 79,548 903 498 498 26,558 25,776 152 0.60 11,073 XOP SPDR S&P Oil & Gas Exploration & Production ETF 0.01 0.03 0.01 20,390,323 687,987,188 23,232,983 10,193 9,445 336,879 273,622 227 2.00 31,409,947 XPH SPDR S&P Pharmaceuticals ETF 0.05 0.11 0.05 208,381 9,078,859 210,901 4,547 5,248 194,975 217,582 152 1.50 2,808,445 XRT SPDR S&P Retail ETF 0.01 0.02 0.01 4,991,605 224,333,392 4,559,348 9,033 6,982 404,498 304,485 155 1.00 28,965,814 XSD SPDR S&P Semiconductor ETF 0.04 0.09 0.04 72,167 3,237,649 102,899 1,749 3,389 76,466 140,779 186 1.30 1,050,074 XHE SPDR S&P Health Care Equipment ETF 0.16 0.35 0.15 3,034 151,678 7,461 2,280 2,552 100,480 102,284 218 0.80 2,882 XTL SPDR S&P Telecom ETF 0.13 0.23 0.16 8,057 480,936 11,260 4,990 5,688 280,787 308,290 127 0.60 7,121 XAR SPDR S&P Aerospace & Defense ETF 0.08 0.16 0.09 10,005 570,630 12,418 690 705 36,818 35,391 122 0.60 9,776 XHS SPDR S&P Health Care Services ETF 0.07 0.13 0.09 25,257 1,497,138 62,431 5,153 2,270 295,628 122,398 161 1.00 27,026 XSW SPDR S&P Software & Services ETF 0.09 0.19 0.10 3,690 198,740 4,891 2,004 2,368 96,533 105,494 122 0.80 2,055 XTN SPDR S&P Transportation ETF 0.06 0.12 0.06 25,467 1,239,092 52,517 2,574 1,296 118,198 56,726 145 1.00 428,232 MTK SPDR Morgan Stanley Technology ETF 0.10 0.20 0.11 16,117 888,971 29,638 5,192 5,219 272,476 264,551 122 0.60 9,202

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.

State Street Global Advisors

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SPDR® ETF Trading Report

Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

Real Estate Equities

RWR SPDR Dow Jones REIT ETF 0.03 0.04 0.04 257,057 24,645,647 314,456 1,725 2,543 162,219 229,048 139 0.60 335,761 RWO SPDR Dow Jones Global Real Estate ETF 0.04 0.09 0.05 184,852 9,420,816 222,585 1,336 1,019 65,224 47,333 171 0.60 213,778 RWX SPDR Dow Jones International Real Estate ETF 0.02 0.04 0.02 700,085 32,369,343 637,506 1,810 1,806 75,586 72,222 189 0.60 321,735

Global Equities

DGT SPDR Global Dow ETF 0.27 0.41 0.30 4,115 278,674 6,775 693 727 45,516 45,699 157 0.70 12,463 GII SPDR S&P Global Infrastructure ETF 0.31 0.68 0.31 3,430 163,459 4,632 945 1,228 42,620 52,386 61 0.80 1,834 GNR SPDR S&P Global Natural Resources ETF 0.06 0.16 0.08 133,756 5,021,425 142,130 1,560 1,667 57,860 57,145 221 1.20 258,971 CWI SPDR MSCI ACWI ex-US ETF 0.01 0.05 0.02 149,851 4,974,983 216,285 4,279 3,710 133,334 110,002 191 0.80 294,573 ACIM SPDR MSCI ACWI IMI ETF 0.52 0.84 0.78 3,239 226,639 4,319 579 555 36,014 33,261 86 0.80 5,958 GWL SPDR S&P World ex-US ETF 0.04 0.16 0.04 217,345 5,606,618 164,241 2,832 3,218 72,584 79,356 358 0.80 6,299 MDD SPDR S&P International Mid Cap ETF 0.31 1.07 0.48 3,009 102,877 5,205 779 596 22,895 16,682 68 1.00 6,564 GWX SPDR S&P International Small Cap ETF 0.06 0.20 0.06 137,288 4,005,310 113,862 874 952 25,171 26,180 238 0.70 3,389 LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.05 0.07 0.05 1,297 104,961 1,110 1,068 1,239 76,928 85,516 193 0.90 3,724

International Developed Equities — Region/Country

JSC SPDR Russell/Nomura Small Cap Japan ETF 0.23 0.43 0.24 1,790 87,355 2,831 672 686 36,281 35,658 266 1.60 767 JPP SPDR Russell/Nomura PRIME Japan ETF 0.26 0.59 0.28 3,041 159,251 5,325 921 707 41,703 30,733 244 1.50 1,850 FEZ SPDR EURO STOXX 50 ETF 0.01 0.03 0.01 2,685,981

93,535,248 3,321,125 52,749 41,364 1,769,729 1,333,575 343 1.00 1,934,616 FEU SPDR STOXX Europe 50 ETF 0.03 0.10 0.04 92,224 2,878,907 79,287 1,756 1,495 53,944 44,925 179 0.80 6,068 SMEZ SPDR EURO STOXX Small Cap ETF 0.19 0.40 0.22 4,268 254,139 8,160 274 364 13,108 16,424 165 0.70 1,492 HFEZ SPDR EURO STOXX 50 Currency Hedged ETF 0.16 0.50 0.09 1,726 72,876 2,713 1,144 577 37,569 18,077 837 1.90 880 HREX SPDR MSCI International Real Estate Currency 0.16 0.40 0.16 498 22,115 211 456 448 18,742 18,332 56 0.80 —Hedged ETF

HDWX SPDR S&P International Dividend Currency 0.10 0.25 0.10 9,840 408,384 3,421 738 721 29,276 28,552 114 0.80 497 Hedged ETF

Emerging Market Equities

EMBB SPDR MSCI EM Beyond BRIC ETF 0.74 1.45 0.88 116 6,512 294 381 410 19,477 18,676 21 1.00 2,565 EMFT SPDR MSCI EM 50 ETF 0.34 0.86 0.55 249 11,717 150 492 1,420 19,562 54,656 35 1.90 9 GMM SPDR S&P Emerging Markets ETF 0.16 0.29 0.19 18,746 1,071,772 35,419 960 829 52,925 43,299 165 0.90 10,740

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.

State Street Global Advisors    

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SPDR® ETF Trading Report

Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

Emerging Market Equities (cont’d)

GML SPDR S&P Emerging Latin America ETF 0.33 0.77 0.45 13,392 580,019 8,169 433 431 18,000 17,145 168 1.60 28,213 GAF SPDR S&P Emerging Middle East & Africa ETF 0.32 0.56 0.57 1,492 95,870 2,107 452 382 25,764 19,283 67 1.10 633 GUR SPDR S&P Emerging Europe ETF 0.14 0.53 0.15 77,210 2,097,062 33,787 684 635 18,297 16,408 146 1.10 6,806 GMF SPDR S&P Emerging Asia Pacific ETF 0.18 0.24 0.17 25,181 1,909,937 46,792 922 1,036 68,080 72,437 89 0.90 51,505 EWX SPDR S&P Emerging Markets Small Cap ETF 0.08 0.20 0.09 62,917 2,562,692 81,011 650 797 25,402 29,744 141 0.90 17,615 BIK SPDR S&P BRIC 40 ETF 0.03 0.17 0.04 13,537 279,311 10,315 1,321 1,009 25,205 18,051 263 0.90 17,124 GXC SPDR S&P China ETF 0.12 0.16 0.10 51,062 3,739,777 73,669 685 816 48,265 53,676 104 1.00 7,347 RBL SPDR S&P Russia ETF 0.09 0.58 0.07 5,725 106,272 9,219 896 1,174 14,694 16,671 252 1.70 6,774 XINA SPDR MSCI China A Shares IMI ETF 0.13 0.62 0.11 324 9,425 262 367 331 7,894 6,759 149 2.50 —

International Sector Equities

IPD SPDR S&P International Consumer Discretionary 0.80 2.30 0.41 1,719 75,812 2,249 370 551 13,316 19,516 144 1.40 2,583 Sector ETF

IPS SPDR S&P International Consumer Staples 0.75 1.73 0.58 7,083 328,511 5,649 925 1,013 40,136 42,718 206 0.80 353

Sector ETF

IPW SPDR S&P International Energy Sector ETF 0.11 0.63 0.10 36,523 644,353 23,358 733 870 12,615 14,068 214 1.30 13,488 IPF SPDR S&P International Financial Sector ETF 0.52 2.78 0.50 5,407 184,420 3,075 1,753 1,780 32,764 32,147 118 1.00 13,430 IRY SPDR S&P International Health Care Sector ETF 0.14 0.29 0.15 5,525 301,446 7,602 848 732 40,662 33,884 149 0.70 2,589 IPN SPDR S&P International Industrial Sector ETF 0.08 0.27 0.10 5,075 165,799 7,358 1,525 1,205 44,423 33,583 125 0.90 17,918 IRV SPDR S&P International Materials Sector ETF 0.08 0.43 0.08 629 11,163 715 1,479 1,614 25,513 27,341 20 2.60 1,543 IPK SPDR S&P International Technology Sector ETF 0.32 1.05 0.26 1,560 55,527 1,136 636 825 19,519 24,494 33 1.40 804 IST SPDR S&P International Telecommunications 0.07 0.28 0.08 7,863 236,048 7,923 477 559 12,183 13,902 196 0.90 1 Sector ETF

IPU SPDR S&P International Utilities Sector ETF 0.06 0.39 0.07 101,706 1,664,936 62,493 844 956 13,664 15,382 352 0.70 6,182

Advanced Beta — Income

EDIV SPDR S&P Emerging Markets Dividend ETF 0.04 0.14 0.05 72,070 1,989,131 113,202 979 1,381 26,237 35,077 175 1.00 245,790 DWX SPDR S&P International Dividend ETF 0.04 0.10 0.04 120,107 4,441,533 129,118 1,319 1,128 47,049 37,901 159 1.00 227,373 SDY SPDR S&P Dividend ETF 0.01 0.02 0.02 772,018 65,204,163 765,989 3,000 3,826 241,080 295,635 193 0.60 333,996 WDIV SPDR S&P Global Dividend ETF 0.09 0.15 0.09 6,030 422,092 10,349 581 574 35,633 33,344 139 0.80 7,455 SPYD SPDR S&P 500 High Dividend ETF 0.13 0.41 0.12 17,861 627,488 13,238 10,526 9,624 341,042 301,327 166 0.70 6,991

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.

State Street Global Advisors

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SPDR® ETF Trading Report

Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

Advanced Beta — Multi Factor

QAUS SPDR MSCI Australia Quality Mix ETF 0.04 0.09 0.04 363 20,673 818 993 1,002 46,860 44,268 78 1.30 1,009 QCAN SPDR MSCI Canada Quality Mix ETF 0.06 0.11 0.06 1,386 85,819 3,287 950 919 48,897 42,007 154 0.90 4,492 QDEU SPDR MSCI Germany Quality Mix ETF 0.05 0.10 0.06 223 10,691 619 966 930 49,256 45,449 52 1.50 441 QJPN SPDR MSCI Japan Quality Mix ETF 0.26 0.42 0.28 527 42,242 817 552 602 35,035 37,113 65 1.70 2,943 QESP SPDR MSCI Spain Quality Mix ETF 0.04 0.08 0.04 783 45,284 309 985 987 42,670 42,402 117 1.20 959 QGBR SPDR MSCI United Kingdom Quality Mix ETF 0.07 0.14 0.07 1,105 58,055 425 903 909 45,096 44,905 124 2.20 966 QEFA SPDR MSCI EAFE Quality Mix ETF 0.44 0.81 0.39 718 47,070 924 1,061 1,534 58,397 81,471 59 0.90 873 QMEX SPDR MSCI Mexico Quality Mix ETF 0.09 0.37 0.08 13,497 324,352 7,668 683 650 16,071 15,249 219 1.10 43,801 QKOR SPDR MSCI Korea Quality Mix ETF 0.09 0.33 0.09 7,454 200,928 5,665 572 579 14,878 14,950 175 1.00 23,286 QTWN SPDR MSCI Taiwan Quality Mix ETF 0.22 0.44 0.24 763 18,472 3,481 568 574 29,019 29,400 95 1.20 1,404 QWLD SPDR MSCI World Quality Mix ETF 0.39 0.63 0.45 886 65,618 457 392 431 24,500 26,218 76 0.70 2 QEMM SPDR MSCI Emerging Markets Quality Mix ETF 0.48 0.96 0.45 11,686 609,885 13,337 1,896 1,493 95,862 71,515 80 0.80 847 QUS SPDR MSCI USA Quality Mix ETF 0.06 0.10 0.30 126 15,881 533 2,011 1,386 122,751 81,053 15 0.70 41

Advanced Beta — Single Factor

SPYB SPDR S&P 500 Buyback ETF 0.04 0.08 0.06 835 46,423 2,925 2,767 3,991 130,519 171,852 48 0.90 446 VLU SPDR S&P 1500 Value Tilt ETF 0.52 0.66 0.52 125 17,611 250 4,854 5,439 379,534 408,360 20 0.70 6,746 MMTM SPDR S&P 1500 Momentum Tilt ETF 0.73 0.83 0.65 401 54,180 1,405 1,546 2,104 136,450 180,565 133 0.80 515 LGLV SPDR Russell 1000 Low Volatility ETF 0.43 0.55 0.39 8,795 714,392 6,084 786 1,634 60,711 122,468 121 0.60 3,099 SMLV SPDR Russell 2000 Low Volatility ETF 0.25 0.33 0.27 7,696 635,267 8,573 1,941 2,728 148,719 202,472 152 0.70 9,715 ONEY SPDR Russell 1000 Yield Focus ETF 0.08 0.12 0.10 75 5,065 740 5,535 4,262 343,724 238,885 — 0.50 886 ONEO SPDR Russell 1000 Momentum Focus ETF 0.99 1.65 0.39 201 16,097 365 2,623 3,654 157,091 203,272 32 0.70 100 ONEV SPDR Russell 1000 Low Volatility Focus ETF 0.17 0.27 0.17 20,511 1,287,601 7,130 1,994 2,007 124,585 124,916 46 1.00 3,426

Advanced Beta — Fixed Income

CBND SPDR Barclays Issuer Scored Corporate Bond ETF 0.09 0.28 0.10 5,108 187,762 4,960 915 1,013 29,225 31,859 248 0.20 31,785

Fixed Income — US Government

BIL SPDR Barclays 1-3 Month T-Bill ETF 0.01 0.02 0.01 1,265,207 58,586,312 1,599,184 4,319,477 3,549,179 197,356,904 162,161,989 2,086 0.00 472,736 ITE SPDR Barclays Intermediate Term Treasury ETF 0.05 0.08 0.03 55,959 3,481,755 267,694 11,019 18,657 672,159 1,136,211 189 0.10 18,702 TLO SPDR Barclays Long Term Treasury ETF 0.10 0.13 0.10 139,938 10,698,420 187,882 10,035 11,939 754,933 897,216 211 0.50 51,753 IPE SPDR Barclays TIPS ETF 0.04 0.07 0.04 38,110 2,292,586 33,296 21,644 14,464 1,234,141 815,191 303 0.20 14,622

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.

State Street Global Advisors

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SPDR® ETF Trading Report


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Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

Fixed Income — US Government (cont’d)

SST SPDR Barclays Short Term Treasury ETF 0.03 0.09 0.03 60,516 1,881,474 43,467 2,053 2,572 62,452 78,163 446 0.10 15,852 SIPE SPDR Barclays 0-5 Year TIPS ETF 0.13 0.68 0.14 1,362 64,305 769 6,124 5,190 120,337 101,620 42 0.30 87 TIPX SPDR Barclays 1-10 Year TIPS ETF 0.04 0.21 0.05 3,925 84,064 7,589 2,654 3,294 52,125 63,871 442 0.20 39,829

Fixed Income — US Investment Grade Corporates

SCPB SPDR Barclays Short Term Corporate Bond ETF 0.01 0.03 0.01 1,242,807 38,429,435 979,762 9,674 11,833 296,508 361,025 268 0.10 311,223 ITR SPDR Barclays Intermediate Term Corporate Bond ETF 0.02 0.07 0.03 206,676 7,294,118 323,726 2,014 10,233 69,080 346,489 267 0.10 72,850 LWC SPDR Barclays Long Term Corporate Bond ETF 0.12 0.29 0.16 29,018 1,218,411 41,667 2,002 2,402 80,921 92,261 132 0.40 44,465 FLRN SPDR Barclays Investment Grade Floating Rate ETF 0.04 0.12 0.04 266,303 8,128,384 103,850 2,082 1,980 63,376 60,251 231 0.10 15,410

Fixed Income — High Yield

JNK SPDR Barclays High Yield Bond ETF 0.01 0.03 0.01 10,686,047 373,889,598 12,591,346 67,369 56,915 2,328,946 1,914,621 498 0.40 16,421,501 SJNK SPDR Barclays Short Term High Yield Bond ETF 0.01 0.04 0.01 1,107,864 29,295,623 1,416,539 8,406 8,687 219,733 220,563 364 0.30 765,547 IJNK SPDR Barclays International High Yield Bond ETF 0.07 0.31 0.11 729 21,074 3,065 489 1,077 10,993 22,574 69 0.40 528 CJNK SPDR BofA Merrill Lynch Crossover Corporate Bond ETF 0.21 0.82 0.26 10,669 278,237 8,661 1,452 1,361 36,692 33,875 145 0.40 8,850

Fixed Income — US Mortgage

MBG SPDR Barclays Mortgage Backed Bond ETF 0.06 0.21 0.06 16,066 460,652 25,285 1,227 2,499 33,264 67,673 170 0.10 42,099

Fixed Income — US Aggregate

BNDS SPDR Barclays Aggregate Bond ETF 0.05 0.08 0.05 157,405 9,324,848 120,746 2,144 2,402 125,510 139,868 344 0.10 195,653

Fixed Income — Hybrids

CWB SPDR Barclays Convertible Securities ETF 0.02 0.04 0.02 457,180 20,579,747 700,257 1,416 1,956 61,270 81,467 158 0.40 913,524 PSK SPDR Wells Fargo Preferred Stock ETF 0.06 0.13 0.06 74,740 3,430,505 116,514 1,979 2,321 89,055 103,168 156 0.20 46,384

Fixed Income — Municipal

SHM SPDR Nuveen Barclays Short Term Municipal Bond ETF 0.02 0.03 0.01 440,643 21,980,230 540,661 8,932 10,494 436,596 358,580 499 0.10 57,279 TFI SPDR Nuveen Barclays Municipal Bond ETF 0.02 0.03 0.01 302,820 15,190,581 444,272 2,462 3,344 122,066 109,148 196 0.10 139,093 CXA SPDR Nuveen Barclays California Municipal Bond ETF 0.05 0.21 0.07 23,608 607,031 25,259 1,410 1,635 34,968 40,286 201 0.10 50,000 INY SPDR Nuveen Barclays New York Municipal Bond ETF 0.12 0.49 0.13 3,702 113,243 5,150 2,821 2,899 68,014 69,576 222 0.20 8,599

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.

State Street Global Advisors 6


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SPDR® ETF Trading Report

Consolidated Consolidated Avg. Avg. Avg. Quote Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

Fixed Income — Municipal (Cont’d)

BABS SPDR Nuveen Barclays Build America Bond ETF 0.66 1.06 0.64 4,160 288,413 4,668 637 849 39,914 52,901 98 0.70 9,627 HYMB SPDR Nuveen S&P High Yield Municipal Bond ETF 0.08 0.14 0.07 66,386 3,935,860 105,688 914 1,084 52,784 62,222 156 0.10 39,597

Fixed Income — International

WIP SPDR Citi International Government Inflation- 0.11 0.20 0.13 75,525 4,298,995 71,370 2,769 2,530 149,997 134,419 218 0.30 349,783 Protected Bond ETF

BWZ SPDR Barclays Short Term International Treasury 0.08 0.26 0.08 243,570 7,668,054 195,677 57,590 25,791 1,807,750 792,557 6,172 0.30 699 Bond ETF

BWX SPDR Barclays International Treasury Bond ETF 0.04 0.08 0.05 538,213 30,781,900 339,109 6,226 5,406 347,411 296,789 359 0.30 81,964 IBND SPDR Barclays International Corporate Bond ETF 0.09 0.28 0.08 56,796 1,946,641 47,544 1,385 1,481 45,525 47,525 267 0.30 33,550 EMCD SPDR BofA Merrill Lynch Emerging Markets 0.44 1.55 0.44 3,438 104,994 2,840 2,826 2,781 79,185 76,144 123 0.90 2,387 Corporate Bond ETF

EBND SPDR Barclays Emerging Markets Local Bond ETF 0.12 0.44 0.14 13,605 382,992 18,273 5,494 3,839 148,832 97,895 289 0.40 2,158

Commodity

GLD® SPDR Gold Trust 0.01 0.01 0.01 10,618,470 1,309,134,617 12,660,734 6,079 5,773 723,705 679,424 217 0.90 10,964,004 NANR SPDR S&P North American Natural 0.05 0.15 0.05 54,954 1,771,767 95,617 2,878 3,283 91,319 95,338 291 1.40 88,512

Resources ETF

Active — Asset Allocation

RLY SPDR SSgA Multi-Asset Real Return ETF 0.04 0.19 0.05 14,398 356,740 21,798 13,328 14,927 314,274 333,320 132 0.50 12,180 INKM SPDR SSgA Income Allocation ETF 0.04 0.15 0.05 2,834 97,846 7,788 7,255 8,211 221,205 244,031 116 0.30 3,452 GAL SPDR SSgA Global Allocation ETF 0.06 0.19 0.08 15,488 535,333 33,377 17,267 12,716 570,847 408,565 160 0.30 15,628

Active — Equity

SYE SPDR MFS Systematic Core Equity ETF 0.27 0.47 0.28 916 64,129 676 1,433 1,439 83,343 80,915 47 0.60 113 SYG SPDR MFS Systematic Growth Equity ETF 0.25 0.42 0.26 3,409 220,027 2,224 1,407 1,441 85,039 83,708 88 0.50 519 SYV SPDR MFS Systematic Value Equity ETF 0.26 0.51 0.27 691 46,529 586 1,939 1,945 100,557 97,600 99 0.70 252 RORO SPDR SSgA Risk Aware ETF 0.21 0.53 0.21 147 5,584 51 505 505 19,680 19,680 64 0.40 508

Source: ArcaVision. Data is as of April 30, 2016. 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 Short

Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest

Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. Quote vs. 3 mo. Trade Volatility as of

Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) 3 mo. trailing Size ($) trailing Size (%) 4/15/2016

Active — Fixed Income

TOTL SPDR DoubleLine Total Return Tactical ETF 0.02 0.04 0.02 362,668 18,058,585 365,452 4,260 3,898 210,146 191,470 233 0.10 95,242 SRLN SPDR Blackstone/GSO Senior Loan ETF 0.04 0.10 0.04 147,140 7,237,357 124,507 4,811 4,436 223,375 204,500 379 0.10 56,211 ULST SPDR SSgA Ultra Short Term Bond ETF 0.06 0.15 0.06 4,656 193,357 82,775 1,203 822 48,072 32,765 121 0.10 2,753

Source: ArcaVision. Data is as of April 30, 2016. Past performance is not a guarantee of future results.

ssga.com | spdrs.com

For investment professional use only. Not for use with the public.

State Street Global Advisors, One Lincoln Street, Boston, MA 02111-2900. T: +1 617 664 7727.

Important Risk Information

ETFs trade like stocks, 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.

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. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the SPDR Gold Trust 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. Investing involves risk, and you could lose money on an investment

in GLD. Please see the GLD prospectus for a detailed discussion of the risks of investing in GLD shares. The GLD prospectus is available here.

For more information: State Street Global Markets, LLC, One Lincoln Street, Boston, MA, 02111 T: +1 866 320 4053 spdrgoldshares.com

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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, including for any errors, omissions, or interruptions of any index.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a 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 Street Global Markets, LLC.

State Street Global Markets, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained GSO Capital Partners, Nuveen Asset Management & Massachusetts Financial Services Company & DoubleLine Capital LP as the sub-advisor. GSO Capital Partners, Nuveen Asset Management, MFS, and

DoubleLine Capital LP are not affiliated with State Street Global Markets, 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 +1 617 664 7727 or visit spdrs.com. Read it carefully.

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© 2016 State Street Corporation. All Rights Reserved.

State Street Global Advisors ID6608-IBG-19388 0516 Exp. Date: 07/31/2016 IBG.SPDRETFTR.0516 SPD001094


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.