SPDR® S&P Kensho Smart Mobility ETF

HAIL

Key Features

  • The SPDR S&P Kensho Smart Mobility ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Kensho Smart Transportation Index (the "Index")
  • Seeks to track an index that is designed to capture companies whose products and services are driving innovation behind smart transportation, which includes the areas of autonomous and connected vehicle technology, drones and drone technologies used for commercial and civilian applications, and advanced transportation tracking and transport optimization systems
  • May provide an effective way to invest in a portfolio of companies involved in the step changes currently underway in how people and goods will be transported in the near future

Fund Information

As of 12/09/2019
Ticker Symbol HAIL
Primary Benchmark S&P Kensho Smart Transportation Index
CUSIP 78468R689
Options Available No
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.

0.45%
Inception Date 12/26/2017
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Quarterly
Exchange NYSE ARCA EXCHANGE

Fund Documents

Fund Performance

MONTH END As of 11/30/2019 QUARTER END As of 09/30/2019
1 Month6.36%3.92%
QTD10.13%-5.65%
YTD24.97%13.48%
1 Year9.65%-10.65%
3 YearN/AN/A
5 YearN/AN/A
10 YearN/AN/A
Inception
-0.01%-5.34%
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 12/05/2019
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.

10.04%
Number of Holdings 59
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.

2.02
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.

13.27
Weighted Average Market Cap $45,323.80 M

Fund Market Price

As of 12/05/2019
Bid/Ask $28.74
Closing Price $28.73
Day High $28.78
Day Low $28.73
Exchange Volume (shares) 100
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)

0.00%

Yields

As of 12/05/2019
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.

1.74%
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.

2.34%
Index Dividend Yield

Index Dividend Yield

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

1.14%

Fund Net Asset Value

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

As of 12/05/2019
NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$28.74
Shares Outstanding 250,000
Total Net Assets $7.19 M

Index Characteristics

As of 12/05/2019
Est. 3-5 Year EPS Growth 10.05%
Number of Holdings 59
Price/Cash Flow 5.48
Price/Earnings 16.94
Price/Earnings Ratio FY1 13.27

Fund Net Cash Amount

As of 12/05/2019
Net Cash Amount $9,739.94

Index Statistics

As of 12/05/2019
Weighted Average Market Cap $45,262.05 M
Average Size
Mean $43,131.35 M
Median $7,864.79 M
Size Range
Largest $916,804.60 M
Smallest $254.49 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

Fund Before Tax Fund After Tax
Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
12/26/2017
Month End
NAV 11/30/2019 6.36% 10.13% 24.97% 9.65% N/A N/A N/A -0.01%
Market Value 11/30/2019 6.30% 10.09% 24.92% 9.58% N/A N/A N/A 0.01%
Return after Taxes on Distributions 11/30/2019 6.36% 10.13% 24.67% 8.57% N/A N/A N/A -0.57%
Return after Taxes on Distributions and Sale of Fund Shares 11/30/2019 3.77% 6.00% 14.78% 5.72% N/A N/A N/A -0.23%
S&P Kensho Smart Transportation Index 11/30/2019 6.28% 10.02% 25.00% 9.72% N/A N/A N/A 0.22%
Quarter End
NAV 09/30/2019 3.92% -5.65% 13.48% -10.65% N/A N/A N/A -5.34%
Market Value 09/30/2019 4.00% -5.53% 13.47% -10.66% N/A N/A N/A -5.30%
Return after Taxes on Distributions 09/30/2019 3.86% -5.71% 13.20% -11.53% N/A N/A N/A -5.92%
Return after Taxes on Distributions and Sale of Fund Shares 09/30/2019 2.32% -3.35% 7.99% -6.25% N/A N/A N/A -4.26%
S&P Kensho Smart Transportation Index 09/30/2019 3.95% -5.60% 13.62% -10.45% N/A N/A N/A -5.05%
Fund Before Tax Fund After Tax
Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
12/26/2017
Month End
NAV 11/30/2019 6.36% 10.13% 24.97% 9.65% N/A N/A N/A -0.01%
Market Value 11/30/2019 6.30% 10.09% 24.92% 9.58% N/A N/A N/A 0.01%
Return after Taxes on Distributions 11/30/2019 6.36% 10.13% 24.67% 8.57% N/A N/A N/A -0.57%
Return after Taxes on Distributions and Sale of Fund Shares 11/30/2019 3.77% 6.00% 14.78% 5.72% N/A N/A N/A -0.23%
S&P Kensho Smart Transportation Index 11/30/2019 6.28% 10.02% 25.00% 9.72% N/A N/A N/A 0.22%
Quarter End
NAV 09/30/2019 3.92% -5.65% 13.48% -10.65% N/A N/A N/A -5.34%
Market Value 09/30/2019 4.00% -5.53% 13.47% -10.66% N/A N/A N/A -5.30%
Return after Taxes on Distributions 09/30/2019 3.86% -5.71% 13.20% -11.53% N/A N/A N/A -5.92%
Return after Taxes on Distributions and Sale of Fund Shares 09/30/2019 2.32% -3.35% 7.99% -6.25% N/A N/A N/A -4.26%
S&P Kensho Smart Transportation Index 09/30/2019 3.95% -5.60% 13.62% -10.45% N/A N/A N/A -5.05%
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: 0.45%

Performance Graphs

Month End as of 11/30/2019

Fund Inception Date: 12/26/2017

Index Inception Date: 12/02/2016

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; S&amp;P Kensho Smart Mobility ETF" bmarkName="S&amp;P Kensho Smart Transportation Index"><funds><field>1 Month</field><fund>6.36</fund><index>6.28</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>10.13</fund><index>10.02</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>24.97</fund><index>25.00</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>9.65</fund><index>9.72</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>-0.01</fund><index>0.22</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Quarter End as of 09/30/2019

Fund Inception Date: 12/26/2017

Index Inception Date: 12/02/2016

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; S&amp;P Kensho Smart Mobility ETF" bmarkName="S&amp;P Kensho Smart Transportation Index"><funds><field>1 Month</field><fund>3.92</fund><index>3.95</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-5.65</fund><index>-5.60</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>13.48</fund><index>13.62</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>-10.65</fund><index>-10.45</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>-5.34</fund><index>-5.05</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

Subject to change.

As of 12/05/2019
Name Weight Shares Held
Visteon Corporation 4.35 % 3,326
Tesla Inc 3.76 % 816
Aptiv PLC 2.97 % 2,281
Plug Power Inc. 2.84 % 65,748
Honda Motor Co. Ltd. Sponsored ADR 2.67 % 6,664
Cummins Inc. 2.61 % 1,048
BorgWarner Inc. 2.51 % 4,210
Yandex NV Class A 2.50 % 4,460
WABCO Holdings Inc. 2.45 % 1,305
Avis Budget Group Inc. 2.32 % 5,568

Index Top Holdings

As of 12/05/2019
Name Weight
Visteon Corporation 4.35 %
Tesla Inc 3.76 %
Aptiv PLC 2.97 %
Plug Power Inc. 2.83 %
Honda Motor Co. Ltd. Sponsored ADR 2.66 %
Cummins Inc. 2.61 %
BorgWarner Inc. 2.50 %
Yandex NV Class A 2.50 %
WABCO Holdings Inc. 2.45 %
Avis Budget Group Inc. 2.31 %

Fund Sub-Industry Allocation

As of 12/05/2019
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>12/05/2019</asOfDate><overrideLabel>Fund Sub-Industry Allocation</overrideLabel><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>23.53</rawValue><value>23.53%</value><label>Auto Parts &amp; Equipment</label><order>1</order></attribute><attribute><rawValue>16.43</rawValue><value>16.43%</value><label>Automobile Manufacturers</label><order>2</order></attribute><attribute><rawValue>15.39</rawValue><value>15.39%</value><label>Semiconductors</label><order>3</order></attribute><attribute><rawValue>5.59</rawValue><value>5.59%</value><label>Interactive Media &amp; Services</label><order>4</order></attribute><attribute><rawValue>5.51</rawValue><value>5.51%</value><label>Electrical Components &amp; Equipment</label><order>5</order></attribute><attribute><rawValue>5.07</rawValue><value>5.07%</value><label>Construction Machinery &amp; Heavy Trucks</label><order>6</order></attribute><attribute><rawValue>4.14</rawValue><value>4.14%</value><label>Industrial Machinery</label><order>7</order></attribute><attribute><rawValue>3.79</rawValue><value>3.79%</value><label>Trucking</label><order>8</order></attribute><attribute><rawValue>3.63</rawValue><value>3.63%</value><label>Electronic Equipment &amp; Instruments</label><order>9</order></attribute><attribute><rawValue>3.31</rawValue><value>3.31%</value><label>Semiconductor Equipment</label><order>10</order></attribute><attribute><rawValue>2.57</rawValue><value>2.57%</value><label>Communications Equipment</label><order>11</order></attribute><attribute><rawValue>2.27</rawValue><value>2.27%</value><label>Application Software</label><order>12</order></attribute><attribute><rawValue>1.96</rawValue><value>1.96%</value><label>Electronic Components</label><order>13</order></attribute><attribute><rawValue>1.44</rawValue><value>1.44%</value><label>Steel</label><order>14</order></attribute><attribute><rawValue>1.44</rawValue><value>1.44%</value><label>Building Products</label><order>15</order></attribute><attribute><rawValue>1.36</rawValue><value>1.36%</value><label>Aerospace &amp; Defense</label><order>16</order></attribute><attribute><rawValue>0.98</rawValue><value>0.98%</value><label>IT Consulting &amp; Other Services</label><order>17</order></attribute><attribute><rawValue>0.96</rawValue><value>0.96%</value><label>Other Diversified Financial Services</label><order>18</order></attribute><attribute><rawValue>0.65</rawValue><value>0.65%</value><label>Alternative Carriers</label><order>19</order></attribute></attributes></component>

Index Sub-Industry Allocation

As of 12/05/2019
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>12/05/2019</asOfDate><overrideLabel>Index Sub-Industry Allocation</overrideLabel><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>23.51</rawValue><value>23.51%</value><label>Auto Parts &amp; Equipment</label><order>1</order></attribute><attribute><rawValue>16.42</rawValue><value>16.42%</value><label>Automobile Manufacturers</label><order>2</order></attribute><attribute><rawValue>15.41</rawValue><value>15.41%</value><label>Semiconductors</label><order>3</order></attribute><attribute><rawValue>5.58</rawValue><value>5.58%</value><label>Interactive Media &amp; Services</label><order>4</order></attribute><attribute><rawValue>5.51</rawValue><value>5.51%</value><label>Electrical Components &amp; Equipment</label><order>5</order></attribute><attribute><rawValue>5.06</rawValue><value>5.06%</value><label>Construction Machinery &amp; Heavy Trucks</label><order>6</order></attribute><attribute><rawValue>4.14</rawValue><value>4.14%</value><label>Industrial Machinery</label><order>7</order></attribute><attribute><rawValue>3.79</rawValue><value>3.79%</value><label>Trucking</label><order>8</order></attribute><attribute><rawValue>3.63</rawValue><value>3.63%</value><label>Electronic Equipment &amp; Instruments</label><order>9</order></attribute><attribute><rawValue>3.32</rawValue><value>3.32%</value><label>Semiconductor Equipment</label><order>10</order></attribute><attribute><rawValue>2.57</rawValue><value>2.57%</value><label>Communications Equipment</label><order>11</order></attribute><attribute><rawValue>2.27</rawValue><value>2.27%</value><label>Application Software</label><order>12</order></attribute><attribute><rawValue>1.96</rawValue><value>1.96%</value><label>Electronic Components</label><order>13</order></attribute><attribute><rawValue>1.45</rawValue><value>1.45%</value><label>Steel</label><order>14</order></attribute><attribute><rawValue>1.44</rawValue><value>1.44%</value><label>Building Products</label><order>15</order></attribute><attribute><rawValue>1.36</rawValue><value>1.36%</value><label>Aerospace &amp; Defense</label><order>16</order></attribute><attribute><rawValue>0.99</rawValue><value>0.99%</value><label>IT Consulting &amp; Other Services</label><order>17</order></attribute><attribute><rawValue>0.96</rawValue><value>0.96%</value><label>Other Diversified Financial Services</label><order>18</order></attribute><attribute><rawValue>0.65</rawValue><value>0.65%</value><label>Alternative Carriers</label><order>19</order></attribute></attributes></component>

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.

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.

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.

Unless otherwise noted all information contained herein is that of the SPDR®  S&P Kensho Smart Mobility ETF.

KENSHO© is a registered service mark of Kensho Technologies Inc. ("Kensho"), and all Kensho financial indices in the Kensho New Economies© family and such indices' corresponding service marks have been licensed by the Licensee in connection with the SPDR Kensho Intelligent Structures ETF, SPDR Kensho Smart Mobility ETF and SPDR Kensho Future Security ETF (collectively, the "SPDR ETFs"). The SPDR ETFs are not marketed, sold, or sponsored by Kensho, Kensho's affiliates, or Kensho's third party licensors.

Kensho is not an investment adviser or broker-dealer and Kensho makes no representation regarding the advisability of investing in any investment fund, other investment vehicle, security or other financial product regardless of whether or not it is based on, derived from, or included as a constituent of any Kensho New Economies© family index. Kensho bears no responsibility or liability for any business decision, input, recommendation, or action taken based on Kensho indices or any products based on, derived from, or included as a constituent of any such index. All referenced names and trademarks are the property of their respective owners.

Prior to 12/10/2018, the S&P Kensho Smart Transportation Index was known as the Kensho Smart Transportation Index.

Prior to 06/25/2019, the SPDR S&P Kensho Smart Mobility ETF was known as the SPDR Kensho Smart Mobility ETF. Prior to 06/25/2019, the ticker for HAIL was XKST.

Global Equity Beta Solutions

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 and is a voting member on the firm's Trade Management Oversight Committee and 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.

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.

Portfolio Manager Kathleen Morgan Senior Portfolio Manager Show BioHide Bio

Kathleen Morgan is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions Group. In this capacity, Kathleen is responsible for the management of various equity index funds that are benchmarked to both domestic and international strategies.

Prior to joining SSGA, Kathleen worked in Equity Product Management at Wellington Management, conducting independent risk oversight and developing investment product marketing strategy. Prior experience also includes index equity portfolio management at BlackRock.

Kathleen holds a Bachelor of Arts degree in Economics from Wellesley College and a MBA from The Wharton School at the University of Pennsylvania. She also earned the Chartered Financial Analyst designation.

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.

S&P Kensho Smart Transportation Index

The S&P Kensho Smart Transportation Index (the "Index") is comprised of U.S.-listed equity securities (including depositary receipts) of companies domiciled across developed and emerging markets worldwide which are included in the Smart Transportation sector as determined by a classification standard produced by S&P Dow Jones Indices LLC. The Index is designed to capture companies whose products and services are driving innovation behind smart transportation. In particular, the Index comprises the components of the S&P Kensho Electric Vehicles Index, S&P Kensho Autonomous Vehicles Index, the S&P Kensho Advanced Transport Systems Index and the civilian/commercially focused components of the S&P Kensho Drones Index as of the Index's annual reconstitution day on the third Friday in June, subject to certain liquidity thresholds.

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.

Concentrated investments in a particular sector or industry (technology sector and electronic media companies) tend to be more volatile than the overall market and increases risk that events negatively affecting such sectors or industries could reduce returns, potentially causing the value of the Fund’s shares to decrease.

Non-diversified funds that focus on a relatively small number of issuers tend to be more volatile than diversified funds and the market as a whole.
 
Passively managed funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.

Foreign (non-U.S.) Securities may be subject to greater political, economic, environmental, credit and information risks. Foreign securities may be subject to higher volatility than U.S. securities, due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.

Currency exchange rates between the U.S. dollar and foreign currencies may have significant volatility and may cause the value of the fund’s investments to decline.

Multi-cap Investments include exposure to all market caps, including small and medium capitalization (“cap”) stocks that generally have a higher risk of business failure, lesser liquidity and greater volatility in market price. As a consequence, small and medium cap stocks have a greater possibility of price decline or loss as compared to large cap stocks. This may cause the Fund not to meet its investment objective.

Technology companies, including cyber security companies, can be significantly affected by obsolescence of existing technology, limited product lines, competition for financial resources, qualified personnel, new market entrants or impairment of patent and intellectual property rights that can adversely affect profit margins.

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.

Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions. Index-based funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index. 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.

Index-based funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.
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.

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 12/05/2019
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
SPDR® S&P Kensho Smart Mobility ETF HAIL $28.74 $28.73 $28.74 0.00%
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.

Centralized Systematic Valuation Aggregated Cash Flow (ACF) File

This information provided is calculated by Bloomberg Finance L.P., a third party not affiliated with SSGA. Neither SSGA nor its affiliates assume any liability for or guarantee the timeliness, accuracy and completeness of the information provided. The information provided is as of the date indicated and is subject to change.

This analysis or any portion thereof may not be revised or changed in any way, reprinted, sold or redistributed without the written consent of SSGA.

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