Energy Select Sector SPDR® Fund

XLE

Key Features

  • The Energy Select Sector SPDR® Fund seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the Energy Select Sector Index (the "Index")
  • The Index seeks to provide an effective representation of the energy sector of the S&P 500 Index
  • Seeks to provide precise exposure to companies in the oil, gas and consumable fuel, energy equipment and services industries
  • Allows investors to take strategic or tactical positions at a more targeted level than traditional style based investing

Fund Information

As of 09/25/2017
Ticker Symbol XLE
Primary Benchmark Energy Select Sector Index
CUSIP 81369Y506
Options Available Yes
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.14%
Inception Date 12/16/1998
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor ALPS Portfolio Solutions Distributor, Inc.
Distribution Frequency Quarterly
Exchange NYSE ARCA EXCHANGE

Fund Documents

Fund Performance

Get a deeper view of how an ETF's allocation to different sectors, countries and market capitalizations may impact its performance.

Analyze Performance
MONTH END As of 08/31/2017 QUARTER END As of 06/30/2017
1 Month-5.38%-0.19%
QTD-2.85%-6.61%
YTD-15.20%-12.71%
1 Year-5.79%-2.61%
3 Year-11.59%-11.13%
5 Year-0.17%1.90%
10 Year1.00%1.35%
Inception
7.29%7.53%
Performance Disclosure

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment.  It is not possible to invest directly in an index.

The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

Fund Characteristics

As of 09/22/2017
Est. 3-5 Year EPS Growth

Estimated 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.

18.78%
Number of Holdings 34
Price/Book Ratio

Price/Book Ratio

The weighted harmonic average of closing market price divided by the most recent reported book value for each security in the fund’s portfolio as calculated for the last twelve months.

1.88
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

The weighted harmonic average of current share price divided by the forecasted one year earnings per share for each security in the fund. Negative and positive outliers are included in the calculation.

31.38
Weighted Average Market Cap $136,136.34 M

Fund Market Price

As of 09/22/2017
Bid/Ask $67.19
Closing Price $67.20
Day High $67.38
Day Low $66.73
Exchange Volume (shares)

Exchange Volume (shares)

Represents the volume of shares traded on the ETF's secondary exchange throughout the previous business day.

2,898,867
Premium/Discount

Premium/Discount to NAV

Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask – Closing NAV)  /  Closing NAV * 100)

-0.04%

Yields

As of 09/22/2017
30 Day SEC Yield

30 Day SEC Yield

(Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

2.67%
Fund Dividend Yield

Fund Dividend Yield

The sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

3.18%
Index Dividend Yield

Index Dividend Yield

The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.

2.81%

Fund Net Asset Value

NAV

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

As of 09/22/2017
NAV

NAV

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

$67.22
Shares Outstanding 242.72 M
Total Net Assets $16,316.67 M

Index Characteristics

As of 09/22/2017
Est. 3-5 Year EPS Growth 18.78%
Number of Holdings 32
Price/Cash Flow 11.09
Price/Earnings 37.07
Price/Earnings Ratio FY1 31.38
Return On Equity -3.40%

Fund Net Cash Amount

As of 09/22/2017
Net Cash Amount $24,311,447.60

Index Statistics

As of 09/22/2017
Weighted Average Market Cap $136,143.72 M
Average Size
Mean $40,881.62 M
Median $18,858.51 M
Size Range
Largest $338,629.50 M
Smallest $3,821.80 M

Purchase Information

Buying and Selling ETFs

ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

Ordinary brokerage commissions apply.

Performance Chart

Get a deeper view of how an ETF's allocation to different sectors, countries and market capitalizations may impact its performance.

Analyze Performance
Fund Before Tax Fund After Tax
Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
12/16/1998
Month End
NAV 08/31/2017 -5.38% -2.85% -15.20% -5.79% -11.59% -0.17% 1.00% 7.29%
Market Value 08/31/2017 -5.43% -2.90% -15.26% -5.82% -11.60% -0.18% 0.99% 7.29%
Return after Taxes on Distributions 08/31/2017 -5.38% -2.85% -15.68% -6.58% -12.24% -0.78% 0.57% 6.83%
Return after Taxes on Distributions and Sale of Fund Shares 08/31/2017 -3.05% -1.61% -8.59% -3.01% -8.61% -0.13% 0.81% 6.10%
Energy Select Sector Index 08/31/2017 -5.39% -2.85% -15.19% -5.70% -11.57% -0.07% 1.14% 7.52%
Quarter End
NAV 06/30/2017 -0.19% -6.61% -12.71% -2.61% -11.13% 1.90% 1.35% 7.53%
Market Value 06/30/2017 -0.19% -6.59% -12.73% -2.61% -11.13% 1.89% 1.37% 7.53%
Return after Taxes on Distributions 06/30/2017 -0.49% -6.89% -13.20% -3.42% -11.79% 1.28% 0.92% 7.06%
Return after Taxes on Distributions and Sale of Fund Shares 06/30/2017 -0.11% -3.74% -7.19% -1.23% -8.30% 1.44% 1.08% 6.30%
Energy Select Sector Index 06/30/2017 -0.18% -6.60% -12.70% -2.50% -11.12% 2.00% 1.50% 7.76%
Fund Before Tax Fund After Tax
Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
12/16/1998
Month End
NAV 08/31/2017 -5.38% -2.85% -15.20% -5.79% -11.59% -0.17% 1.00% 7.29%
Market Value 08/31/2017 -5.43% -2.90% -15.26% -5.82% -11.60% -0.18% 0.99% 7.29%
Return after Taxes on Distributions 08/31/2017 -5.38% -2.85% -15.68% -6.58% -12.24% -0.78% 0.57% 6.83%
Return after Taxes on Distributions and Sale of Fund Shares 08/31/2017 -3.05% -1.61% -8.59% -3.01% -8.61% -0.13% 0.81% 6.10%
Energy Select Sector Index 08/31/2017 -5.39% -2.85% -15.19% -5.70% -11.57% -0.07% 1.14% 7.52%
Quarter End
NAV 06/30/2017 -0.19% -6.61% -12.71% -2.61% -11.13% 1.90% 1.35% 7.53%
Market Value 06/30/2017 -0.19% -6.59% -12.73% -2.61% -11.13% 1.89% 1.37% 7.53%
Return after Taxes on Distributions 06/30/2017 -0.49% -6.89% -13.20% -3.42% -11.79% 1.28% 0.92% 7.06%
Return after Taxes on Distributions and Sale of Fund Shares 06/30/2017 -0.11% -3.74% -7.19% -1.23% -8.30% 1.44% 1.08% 6.30%
Energy Select Sector Index 06/30/2017 -0.18% -6.60% -12.70% -2.50% -11.12% 2.00% 1.50% 7.76%
Swipe to view all columns
Performance Disclosure

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment.  It is not possible to invest directly in an index.

The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

Gross Expense Ratio: 0.14%

Performance Graphs

Month End as of 08/31/2017

Fund Inception Date: 12/16/1998

Index Inception Date: 12/16/1998

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Quarter End as of 06/30/2017

Fund Inception Date: 12/16/1998

Index Inception Date: 12/16/1998

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Fund Top Holdings

Subject to change.

As of 09/22/2017
Name Weight Shares Held
Exxon Mobil Corporation 21.66 % 44,013,308
Chevron Corporation 17.35 % 24,026,416
Schlumberger NV 7.54 % 17,805,936
ConocoPhillips 4.78 % 15,801,832
EOG Resources Inc. 4.37 % 7,510,755
Occidental Petroleum Corporation 3.87 % 9,988,256
Phillips 66 3.14 % 5,672,266
Halliburton Company 3.12 % 11,445,884
Kinder Morgan Inc Class P 3.00 % 25,318,608
Valero Energy Corporation 2.69 % 5,883,195

Index Top Holdings

As of 09/22/2017
Name Weight
Exxon Mobil Corporation 21.67 %
Chevron Corporation 17.36 %
Schlumberger NV 7.55 %
ConocoPhillips 4.78 %
EOG Resources Inc. 4.37 %
Occidental Petroleum Corporation 3.87 %
Phillips 66 3.14 %
Halliburton Company 3.12 %
Kinder Morgan Inc Class P 3.01 %
Valero Energy Corporation 2.69 %

Fund Industry Allocation

As of 09/22/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>09/22/2017</asOfDate><overrideLabel>Fund Industry Allocation</overrideLabel><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>85.19</rawValue><value>85.19%</value><label>Oil Gas &amp; Consumable Fuels</label><order>1</order></attribute><attribute><rawValue>14.78</rawValue><value>14.78%</value><label>Energy Equipment &amp; Services</label><order>2</order></attribute><attribute><rawValue>0.03</rawValue><value>0.03%</value><label>Unassigned</label><order>3</order></attribute></attributes></component>

Index Industry Allocation

As of 09/22/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>09/22/2017</asOfDate><overrideLabel>Index Industry Allocation </overrideLabel><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>85.22</rawValue><value>85.22%</value><label>Oil Gas &amp; Consumable Fuels</label><order>1</order></attribute><attribute><rawValue>14.78</rawValue><value>14.78%</value><label>Energy Equipment &amp; Services</label><order>2</order></attribute></attributes></component>

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Unless Otherwise noted all information contained herein is that of the Energy Select Sector SPDR ETF.

All total return figures assume reinvestment of dividend and capital gains at net assets value; actual returns may differ.

There are no sales loads on Select Sector SPDR shares but ordinary brokerage commissions apply and this expense is not reflected in performance calculations.

As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

Global Equity Beta Solutions

Co-Head of Passive Equity Strategies John Tucker Senior Managing Director Show BioHide Bio

John is a Senior Managing Director of State Street Global Advisors and Chief Operating Officer for the Investment Management Group. John is responsible for the oversight of portfolio management, ensuring process and operational excellence, a consistent view of IT investments, and an improved client experience. John is a member of the Senior Leadership Team.

Previously, John was Co-Head of Passive Equity Strategies in North America and responsible for overseeing the management of all equity index strategies and Exchange Traded Funds managed in North America. And before that, John was head of the Structured Products group in SSGA's London office, where he was responsible for the management of all index strategies in our second largest investment center.

John received a BA from Trinity College and an MS in Finance from Boston College. He has also earned the Chartered Financial Analyst designation and is a member of the Boston Security Analysts Society and the CFA Institute. In addition, John is a member of The Russell Index Client Advisory Board and The S&P U.S. Index Advisory Panel. He joined State Street in 1988.

CIO, Global Equity Beta Solutions Lynn S. Blake Executive Vice President Show BioHide Bio

Lynn is an Executive Vice President of State Street Global Advisors (SSGA) and CIO of Global Equity Beta Solutions. In this capacity, she oversees a team of 70 portfolio managers globally, and more than 1,600 portfolios with assets in excess of $1.4 trillion across all equity index and smart beta strategies. She also oversees SSGA's ESG Investments and Asset Stewardship Team as well as the Company Stock Group which manages fiduciary transactions and company stock investments, including company stock ownership and 401K plans. In addition, she is a member of the SSGA Fiduciary Committee, the Investment Committee, and the IT Steering Committee. Lynn also serves as a member of SSGA's Executive Management Group.

Prior to her current role, Lynn was head of non-US markets of passive equities, responsible for overseeing the management of all non-US equity index strategies, as well as serving as portfolio manager for several equity index portfolios. She joined SSGA in 1987.

Lynn has a Master of Business Administration in finance from Northeastern University, and a Bachelor of Science from the Boston College Carroll School of Management. She earned the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the Boston Security Analyst Society. Lynn serves on the Board for the Posse Foundation Boston, a non-profit organization that partners with top colleges and universities to recruit and sustain outstanding young leaders from diverse backgrounds. She also is a member of the Sustainability Accounting Standards Board's (SASB) Investment Advisory Group and serves on various index advisory boards.

Co-Head, Global Equity Beta Solutions Michael J. Feehily Senior Managing Director Show BioHide Bio

Mike is a Senior Managing Director and the Head of Global Equity Beta Solutions in the Americas. He is also a member of the Senior Leadership Team, is the Chairperson for the firm's Trade Management Oversight Committee, and is a voting member on the North America Product Committee.

Mike rejoined SSGA in 2010 after spending four years in State Street Global Markets where he helped to build the Global Exposure Solutions business. This group created and managed portfolios that were designed to meet the short-term market exposure needs of our institutional clients. Prior to this Mike had been Head of the US Passive Equity Team within SSGA, which he originally joined in 1997. He began his career at State Street within the Global Services division in 1992.

Mike received a Bachelor of Science Degree from Babson College in Finance, Investments, and Economics. He received an MBA in Finance from Bentley College and also earned the Chartered Financial Analyst designation. He is a member of the CFA Institute and the Boston Security Analysts Society. Mike is also a former member of the Russell Index Client Advisory Board.

Deputy Head of GEBS - Americas Karl A. Schneider Managing Director Show BioHide Bio

Karl Schneider, CAIA, is a Managing Director of SSGA and Deputy Head of Global Equity Beta Solutions (GEBS) in the Americas. He also serves as a senior portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for US equity strategies and synthetic beta strategies, including commodities, buy/write, and hedge fund replication. He is also a member of the S&P Dow Jones US Equities Index Advisory Panel.

Prior to joining the GEBS team, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1997.

Mr. Schneider holds a BS in Finance and Investments from Babson College and also an MS in Finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation and is a member of the CAIA Association.

Portfolio Manager Michelle Ip Principal Show BioHide Bio
Michelle is a Principal of State Street Global Advisors and a Portfolio Manager for State Street Global Advisors Asia, Ltd. She is a member of the global structured products team and responsible for the management of the structured index portfolios. Prior to her current role, Michelle worked with the investment operations team, responsible for overseeing and supervising the company's investment operations and for providing client services and performance and tracking-error calculations in relation to the investment portfolios. Prior to joining SSGA in 2000, Michelle was an Investment Accountant at ACL Asia Limited, a Hong Kong-based investment management, venture capital and corporate finance company, where she was responsible for overseeing and supervising the various investment operations of the said company. Prior to her employment with ACL Asia Limited, Michelle worked in the corporate finance department of Baring Assets Management.
Senior Portfolio Manager Mark Abbott Vice President Show BioHide Bio

Mark is a Vice President of State Street Global Advisors and Senior Portfolio Manager in the Currency Management Group. The group is responsible for portfolio management, research and product development for passive, dynamic and active strategies.

Mark has been directly involved in the currency markets since 1995. Before joining the firm in 2007, Mark was responsible for managing currency risk at large international banks as an inter-bank dealer and proprietary trader with a focus on developed market currencies. Mark was also involved in promoting the banks' services to institutional and corporate clients.

Mark holds a BComm (Honors) in Business Administration from the University of Windsor.

Senior Portfolio Manager Aaron R. Hurd Managing Director Show BioHide Bio

Aaron is a Managing Director of State Street Global Advisors and a Senior Portfolio Manager in the Currency group. Before joining SSGA in December 2004, Aaron was the Vice President and a Principal of Conifer Capital LLC, where he was primarily responsible for trading and portfolio management for two private investment partnerships. Additionally, Aaron was actively involved in Conifer's product development, research, and marketing efforts. Previously, Aaron was a trading assistant in the fixed income group at Grantham, Mayo, Van Otterloo LLC and a portfolio/custody accountant at Investors Bank and Trust Co. He has been working in the investment management field since 1996. Aaron received a Bachelors of Arts degree in Economics with a minor concentration in Mathematics from the University of Massachusetts. He also earned certification as a Financial RIsk Manager (FRM).

Portfolio Manager Ray Donofrio Portfolio Manager Show BioHide Bio

Raymond Donofrio is a Principal within SSGA and a Portfolio Manager in the Global Equity Beta Solutions Group. Mr. Donofrio is currently responsible for managing various equity index funds, with both domestic and international strategies.

Prior to his current role, Mr. Donofrio was an Analyst for SSGA's Strategy and Research group within the Global ETF Group. He began his career as an associate within the Investment Operations team at SSGA. He supported the Portfolio Managers of the Global Equity Beta Solutions team, mainly focusing on international strategies.

Mr. Donofrio received his bachelor of science degree in financial services from Bryant University, and his MBA with a concentration in Finance from Boston University's Questrom School of Business.

Portfolio Manager Michael J. Finocchi Principal Show BioHide Bio

Michael Finocchi is a Principal within SSGA and a Portfolio Manager in the Global Equity Beta Solutions Group. Prior to assuming his current role in March 2012, Mr. Finocchi was a Senior Manager in Portfolio Administration responsible for the operations of funds managed by Global Equity Beta Solutions. Before joining SSGA in 2005, he worked for Investors Bank & trust as a Senior Tax Analyst following his role in custody servicing BGI.

Mr. Finocchi holds an MBA with a concentration in Finance from BU's Questrom School of Business as well as a BA in history and business studies from Providence College.

Senior Portfolio Manager Payal Kapoor Gupta Vice President Show BioHide Bio

Payal Gupta is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions team. Within this team, Payal is responsible for the management of several commingled funds, mutual funds, separately managed accounts, and ETFs that are benchmarked to US domestic, international developed and emerging market indices. Prior to assuming her current role in 2007, Payal was a business analyst in the IT Investment Operations group at SSGA. In this role, she worked on automating business processes and designing and implementing global investment management applications. Before joining SSGA in 2005, Payal worked as an analyst at Concentra Integrated Services and at Morgan Stanley.

Payal holds an MBA with specialization in Investments and Information systems from Northeastern University and a Bachelors of Science in Information Technology from Bay Path University.

Portfolio Manager Keith Richardson Principal Show BioHide Bio

Keith is a Principal at State Street Global Advisors and a Portfolio Manager in the Global Equity Beta Solutions (GEBS) team. He currently manages a variety of US and international equity funds including an assortment of ETFs, Smart Beta and Tax Efficient portfolios.

Prior to his current role, Keith spent 9 years as a Portfolio Manager in the Direct Implementation group where he managed both US active quantitative strategies and passive global REITs. During that time, he also oversaw the mass construction of separately managed accounts (SMAs). He began his time with SSGA in investment operations with a primary focus on Tax Efficient Market Capture. Keith has been with SSGA since 1999 and has been working in the investment management field since 1997.

Keith holds a Bachelor of Science in Finance from Bentley University and a MBA with a Finance concentration from the Sawyer School of Management at Suffolk University.

Portfolio Manager Amy Scofield Principal Show BioHide Bio

Amy is a Principal at State Street Global Advisors and a Portfolio Manager in the Global Equity Beta Solutions team. She is responsible for the management of various equity index funds, with domestic and international strategies.

Amy rejoined SSGA in November of 2010, after spending two years at Atlantic Trust Company, a Private Wealth Management firm. In her role there, she specialized in asset allocation and performance analysis for high net worth clients. Prior to Atlantic Trust Company, Amy was a Compliance Officer at SSGA, where she was responsible for ensuring equity portfolios met specified guidelines. She also worked as an Operations Associate in the International Structured Products Group. Amy graduated from Boston College with a Bachelor of Arts in Economics.

Senior Portfolio Manager Amy Cheng Vice President Show BioHide Bio

Amy is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions group. She is responsible for managing various domestic, international and emerging market equity index strategies.

Prior to assuming her current role in May 2008, Amy worked in the Implementation Group where she performed the day-to-day management of active developed and emerging market equity portfolios. She also worked as an Operations Associate responsible for funds managed by the active international equities team. Prior to joining SSGA in 2000, Amy worked at Mellon Financial.

Amy earned a BA in Economics and Political Science from the University of Rochester and an MBA from the Carroll School of Management at Boston College. Amy is a member of the FTSE EPRA/NAREIT Global Real Estate Index Series Americas Regional Advisory Committee.

Senior Portfolio Manager David Chin Vice President Show BioHide Bio

David is a Vice President and Senior Portfolio Manager in the Global Equity Beta Solutions team at State Street Global Advisors. He is responsible for managing both U.S. and International funds. Prior to joining SSGA in 1999, David was a product analyst in the Analytical Services Group at Frank Russell Company. Before this, he worked at OneSource Information Systems developing investment software. Preceding this, he was affiliated with PanAgora Asset Management in the Research and Development group creating quantitative investment models for international equities. David has been working in the investment management field since 1992.

David holds a BS in Management Information Systems from the University of Massachusetts/Boston and an MBA from the University of Arizona.

Senior Portfolio Manager Tom Coleman Vice President Show BioHide Bio

Tom is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions investment team. Within this team, Tom is the Emerging Markets Strategy leader and as such, he is responsible for the management of a variety of commingled, segregated, and exchange traded products benchmarked to international strategies, including MSCI Emerging and ACWI, as well as S&P Emerging Markets. Tom is also responsible for domestic strategies benchmarked to Russell, Standard & Poors, and NASDAQ Indices. Prior to assuming his current role in April 2004, Tom managed the International Structured Products Group Operations Team.

Tom holds a BS in Finance and Accounting from Boston College and an MBA from Babson College. He also earned the Chartered Financial Analyst designation and is a member of the Boston Security Analysts Society.

Senior Portfolio Manager Dwayne Hancock Vice President Show BioHide Bio

Dwayne is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the firm's Global Equity Beta Solutions (GEBS) team. Within this group, he is currently the strategy leader for their non-US passive products. Prior to taking on this responsibility, Dwayne was the ETF product specialist for the GEBS group. He is also a member of the SSGA Valuation Committee. Dwayne currently manages a varied mix of funds spanning both regions, US, developed and emerging and fund structures which include separate accounts, commingled funds, mutual funds and ETFs. Additionally, he has played a primary role in determining trading strategies for significant benchmark changes such as the annual Russell reconstitution.

Dwayne joined SSGA in 1996 and became part of the GEBS portfolio management team in 1998. Prior to this, he worked in the firm's Passive International Equity Operations department as a Senior Analyst. He has been working in the investment management field since 1994.

Dwayne holds an MBA from Boston College and a BS in Business Administration from Framingham State College. He also earned the Chartered Financial Analyst Designation and is a member of the Boston Security Analysts Society.

Senior Portfolio Manager Ted Janowsky Vice President Show BioHide Bio

Ted is a Vice President of State Street Global Advisors and a Senior Portfolio Manager within the Global Equity Beta Solutions team. In this capacity, he manages a diverse group of equity and derivative-based index portfolios and has played a significant role designing our proprietary portfolio management software. Additionally, Ted is head of Company Stock Groups' portfolio management team, which manages all fiduciary transactions and company stock investments including employee stock ownership plans, 401(k) plans, defined benefit plans and non-qualified plans.

Prior to joining the Global Equity Beta Solutions team, Ted worked as an application developer in Investor Technology Services within State Street Corporation. He also worked as a business analyst in State Street's London and Sydney offices.

Ted holds a Bachelor of Science degree in Business Administration from Bucknell University and a MBA from the Carroll School of Graduate Management at Boston College. He has also earned the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Security Analysts Society.

Senior Portfolio Manager Melissa A. Kapitulik Vice President Show BioHide Bio

Melissa is a Vice President at State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions team where she currently manages several of the firm's commingled US and international strategies as well as US and international/emerging ETFs and other separately managed domestic and international funds. Additionally, Melissa manages synthetic beta strategies.

Prior to her current role, Melissa worked on SSGA's Trident Project RKS implementation. Before joining SSGA, Melissa was a consultant -- specializing in accounting system implementations for investment management companies -- and was responsible for the design and development of a wide variety of applications. She began her career at PIMCO, where she worked for several years as a trading assistant in Global Fixed Income.

Melissa holds a Bachelor of Science degree in Finance from Villanova University.

Senior Portfolio Manager Kala S. O'Donnell Vice President Show BioHide Bio

Kala O'Donnell is a Vice President at SSGA and is a senior portfolio manager in the firm's Global Equity Beta Solutions Group. She is responsible for managing both domestic and international equity index portfolios, including a variety of separate accounts, commingled funds, ETFs and alternative beta strategies. Additionally, Ms. O'Donnell has been involved in various research and process improvement projects, and has served as a hedging specialist within the Group.

Prior to joining SSGA, Ms. O'Donnell worked in State Street Corporation's Mutual Funds division in the US, as well as in Canada and Germany. She has been in the investment management field since she joined SSGA in 1995.

Ms. O'Donnell holds a BS degree in Accounting from Lehigh University and an MBA degree in International Business from Bentley College. She is member of the CFA Institute and the Boston Security Analysts Society.

Senior Portfolio Manager Emiliano Rabinovich Vice President Show BioHide Bio

Emiliano is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the firm's Global Equity Beta Solutions (GEBS) team. Within this group, he is the strategy leader for their Smart Beta and ESG products. Emiliano currently manages a varied mix of funds that include both traditional indexing and a variety of alternative beta mandates. Also, Emiliano manages several local and global strategies and fund structures, which include separate accounts, commingled funds and mutual funds.

Emiliano joined SSGA in Montreal in 2006, where he was the Head of the GEBS team in Canada. He has been working in the investment management field since 2003.

Emiliano holds a BA in Economics from the University of Buenos Aires and a Master of Arts in Economics from the University of CEMA. He has also earned the CFA Designation and is a member of Boston Security Analysis Society.

Portfolio Manager Olga G. Winner Vice President Show BioHide Bio

Olga Winner, CFA, is a Vice President at SSGA and a Senior Portfolio Manager in the Global Equity Beta Solutions Group. She is responsible for the management of several domestic, international developed and emerging market strategies, including separate accounts, commingled funds, mutual funds and ETFs. Additionally, Ms. Winner manages hedged and futures overlay strategies.

Prior to joining SSGA, Ms. Winner worked as an acquisitions associate at Boston Capital Partners, a real estate investment firm, analyzing investment opportunities. She holds an MBA and MSF from the Carroll School of Management at Boston College and a BS in Finance from the University of Massachusetts. She also earned the Chartered Financial Analyst designation and is a member of the CFA Boston Society.

Senior Portfolio Manager Teddy Wong Vice President Show BioHide Bio

Teddy is a Vice President at State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions team. Within this team, Teddy is responsible for the management of several strategies, including developed and emerging markets benchmarked to MSCI and S&P as well as domestic strategies benchmarked to Russell and Standard & Poor's indices. Prior to assuming his current role in January 2006, Teddy was a manager within the International Structured Products Group Operations Team.

Teddy holds a BA in Economics from the University of Rochester.

Portfolio Manager Juan P. Acevedo Vice President Show BioHide Bio

Juan Acevedo is a Vice President of State Street Global Advisors and a portfolio manager on the Global Equity Beta Solutions team. He is responsible for managing Equity Index, Smart Beta and Tax-efficient quantitative strategies for institutional clients and high net worth individuals.

Prior to his current role, Juan was a portfolio manager in the Implementation Group where he was responsible for the daily management of active and passive strategies, with an additional focus of mass construction of separate managed accounts.

Juan received a Bachelor of Arts in International Business from Providence College. Additionally, he received a Master of Science in Investment Management and a Master of Business Administration with a Finance concentration from the School of Management at Boston University.

Portfolio Manager Lisa Hobart Vice President Show BioHide Bio

Lisa is a Vice President at State Street Global Advisors and a Portfolio Manager within the Global Equity Beta Solutions Team. Lisa is currently responsible for managing various equity index funds, with both domestic and international strategies.

Lisa joined State Street Bank London in 2000 and moved to SSGA as a senior portfolio analyst in 2006. During her career at SSGA Lisa has managed the Investment Operations team, supporting passive, enhanced and active equity strategies.

Lisa graduated from Leeds University with a B.A. (Hons.) in Economics and Management. She holds the Investment Management Certificate.

Portfolio Manager Mark G. Krivitsky Vice President Show BioHide Bio

Mark is a Vice President and Senior Portfolio Manager in the Global Equity Beta Solutions team and Tax-Efficient Market Capture team at State Street Global Advisors. He is responsible for managing both U.S. and International Index funds and taxable institutional accounts. His previous experience at SSGA includes affiliaton with the the firm's U.S. Structured Products Operations Group. Mark began his tenure at State Street in the Mutual Funds Division in 1992. He has been working in the investment management field since 1991.

Mark completed his undergraduate degree with a BA in Humanities/Social Sciences from the University of Massachusetts and earned a Master's degree in Business Administration with a specialization in Finance from the Sawyer School of Management at Suffolk University.

Senior Portfolio Manager Eric J. Viliott Vice President Show BioHide Bio

Eric is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions investment team. He is responsible for a variety of passive equity strategies including exchange traded products as well as optimized separately managed tax-efficient strategies. While with SSGA, Eric has also held roles conducting research and analysis to assist in the unwind of clients' concentrated equity positions. He was also responsible for the optimization and management of actively managed taxable equity portfolios within the Private Asset Management team. Prior to joining SSGA in 2000, Eric was with Putnam Investments where he provided research and analysis for the Quantitative Equity Research Team. He has been working in the investment management field since 1995.

Eric completed his undergraduate degree with a BA in Finance from the School of Management at the University of Massachusetts in Amherst and earned a Master of Science degree in Finance from Boston College. In addition, Eric has achieved the designation of Chartered Financial Analyst (CFA) as well as the designation of Certified Financial Planner (CFP®). He is also a member of CFA Institute, The Financial Planning Association and the Boston Security Analysts Society.

Portfolio Manager Dave Swallow Principal Show BioHide Bio

David is a Vice President at State Street Global Advisors. He is a Portfolio Manager in the Tax Efficient Market Capture Group. Dave performs investment optimization and portfolio management for high net worth individuals and taxable institutional clients. His previous experience at SSGA includes implementation of large fiduciary transactions and investment management of institutional retirement plans. Before joining SSGA in 1996, he was a Senior Product Manager at BayBanks Investment Management. He has been working in the investment management field since 1987.

Dave has earned the Chartered Financial Analyst Designation. He is also a member of the Association for Investment Management and Research (AIMR) and the Boston Security Analysts Society. He holds a BS in Mathematics from Washington & Lee University and an MBA from the College of William & Mary.

Portfolio Manager Daniel TenPas Principal Show BioHide Bio

Dan is a Principal within State Street Global Advisors and a Portfolio Manager in the Global Equity Beta Solutions team.

Prior to his current role, Dan was a Portfolio Specialist within the Global Product and Marketing Group. In that role, Dan focused on supporting Passive Equity products as a subject matter expert and a liaison between the portfolio management team and the client-facing functions at SSGA. His responsibilities included investment research and analysis as well as product positioning and messaging across multiple investment strategies.

Dan holds a Bachelor's degree in Economics from Dartmouth College and a law degree from Harvard Law School. He has earned the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Security Analysts Society.

After Tax Returns

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shres through tad deferred arrangements such as 401(k) plans or individual retiredment accounts. After tax returns may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.

Energy Select Sector Index

The Energy Sector Index seeks to provide an effective representation of the energy sector of the S&P 500 Index. The Index includes companies from the following industries: oil, gas and consumable fuels; and energy equipment and services.

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.

Select Sector SPDR Funds bear a higher level of risk than more broadly diversified funds. All ETFs are subject to risk, including the possible loss of principal. Sector ETFs products are also subject to sector risk and non-diversification risk, which generally results in greater price fluctuations than the overall market.

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 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Glossary

Premium Discount to NAV

As of 09/22/2017
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
Energy Select Sector SPDR® Fund XLE $67.22 $67.20 $67.19 -0.04%
Download Fund Data

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.

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 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.