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Investing involves risk, including the risk of loss of Principal.

Past performance is no guarantee of future results.

The views expressed by State Street or its authors are subject to change based on market and other conditions, and should not be considered a solicitation to buy or an offer to sell any security.

No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing on this website or the social media sites linked to this page shall be considered a solicitation or offer to sell any security, future, or any other product or service, to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. No part of our social media pages are intended to make a recommendation or state a testimonial for or about any security, service or product, or to provide investment, tax, or any other advice. You are solely responsible for determining whether any investment, security, strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives, and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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.

Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.

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The views expressed in this material are the views of SPDR ETF Strategy Team, EMEA and are subject to change based on market and other conditions. This material may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

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10/31/2021