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    SPDR® Nuveen Municipal Bond ETF MBND

    Important Risk Disclosure

    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.

    Actively managed ETFs do not seek to replicate the performance of a specified index. These investments may have difficulty in liquidating an investment position without taking a significant discount from current market value, which can be a significant problem with certain lightly traded securities. The Fund is actively managed and may underperform its benchmarks. An investment in the fund is not appropriate for all investors and is not intended to be a complete investment program. Investing in the fund involves risks, including the risk that investors may receive little or no return on the investment or that investors may lose part or even all of the investment.

    The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Interest rate increases can cause the price of a debt security to decrease. A portion of the dividends you receive may be subject to federal, state, or local income tax or may be subject to the federal alternative minimum tax.

    Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; issuer credit risk; liquidity risk; and inflation risk. There are additional risks for funds that invest in mortgage-backed and asset-backed securities including the risk of issuer default; credit risk and inflation risk.

    Non-diversified fund may invest in a relatively small number of issuers. The value of shares of non-diversified funds may be more volatile than the values of shares of more diversified funds.


    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.

    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.

    NAV

    NAV

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

    $30.03

    as of May 10 2021

    Base Currency

    USD

    Assets Under Management

    $45.05 M

    as of May 10 2021

    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.

    0.40%

    Quick Links

    Key Features

    Key Features

    • Seeks to provide broad exposure to municipal bonds that pay income exempt from federal income taxes
    • Employs a systematic, active approach to identify higher-yielding and undervalued municipal bonds with above-average total return
    • Actively managed by Nuveen, a municipal bond manager experienced in identifying opportunities and mitigating risks in municipal bond investing

    About this Benchmark

    About this Benchmark

    The Bloomberg Barclays 3-15 Year Blend (2-17) Municipal Bond Index (the “Index”) is designed to track the U.S. fully tax-exempt bond market. The Index includes state and local general obligation bonds, revenue bonds, pre-refunded bonds, and insured bonds. The Index is comprised of tax-exempt municipal securities issued by states, cities, counties, districts and their respective agencies.

    Fund Information as of May 10 2021

    Fund Information as of May 10 2021
    Benchmark Inception Date Options Available 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.

    		 Base Currency Sub-advisor Investment Manager
    Bloomberg Barclays 3-15 Year Blend Municipal Bond Index Feb 03 2021 No 0.40% USD Nuveen Asset Management, LLC SSGA Funds Management, Inc.
    Benchmark Bloomberg Barclays 3-15 Year Blend Municipal Bond Index
    Inception Date Feb 03 2021
    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.

    		 0.40%
    Base Currency USD
    Sub-advisor Nuveen Asset Management, LLC
    Investment Manager SSGA Funds Management, Inc.
    Distributor Distribution Frequency
    State Street Global Advisors Funds Distributors, LLC Monthly
    Distributor State Street Global Advisors Funds Distributors, LLC
    Distribution Frequency Monthly

    Listing Information as of May 10 2021

    Listing Information as of May 10 2021
    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    Cboe BZX Exchange, Inc Feb 04 2021 USD MBND 78470P705 US78470P7050
    Exchange Cboe BZX Exchange, Inc
    Listing Date Feb 04 2021
    Trading Currency USD
    Ticker MBND
    CUSIP 78470P705
    ISIN US78470P7050

    Fund Characteristics as of May 10 2021

    Fund Characteristics as of May 10 2021
    Number of Holdings Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    		 Average Maturity in Years

    Average Maturity

    The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

    		 Average Price Average Yield To Worst

    The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

    		 Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    		 Option Adjusted Duration

    Option Adjusted Duration

    An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.
    92 4.44% 7.23 $117.32 1.09% 3.43% 6.28 years
    Number of Holdings 92
    Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    		 4.44%
    Average Maturity in Years

    Average Maturity

    The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

    		 7.23
    Average Price $117.32
    Average Yield To Worst

    The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

    		 1.09%
    Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    		 3.43%
    Option Adjusted Duration

    Option Adjusted Duration

    An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

    		 6.28 years
    Option Adjusted Spread Real Adjusted Duration

    Real Adjusted Duration

    A measure of the percentage price change of an inflation linked security associated with a change in real interest rates.

    		 Yield to Maturity

    Yield to Maturity

    The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

    		 Subject to AMT
    6.25 0.00 years 1.71% -
    Option Adjusted Spread 6.25
    Real Adjusted Duration

    Real Adjusted Duration

    A measure of the percentage price change of an inflation linked security associated with a change in real interest rates.

    		 0.00 years
    Yield to Maturity

    Yield to Maturity

    The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

    		 1.71%
    Subject to AMT -

    Index Characteristics as of May 10 2021

    Index Characteristics as of May 10 2021
    Number of Holdings Average Maturity in Years Average Price Average Yield To Worst Convexity Current Yield Option Adjusted Duration
    40,402 5.45 $116.75 0.79% 0.16% 3.86% 4.56 years
    Number of Holdings 40,402
    Average Maturity in Years 5.45
    Average Price $116.75
    Average Yield To Worst 0.79%
    Convexity 0.16%
    Current Yield 3.86%
    Option Adjusted Duration 4.56 years
    Option Adjusted Spread Yield to Maturity
    4.89 1.85%
    Option Adjusted Spread 4.89
    Yield to Maturity 1.85%

    Yields as of May 07 2021

    Yields as of May 07 2021
    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.

    		 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.
    0.66% 0.22%
    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.

    		 0.66%
    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.

    		 0.22%

    Fund Market Price as of May 10 2021

    Fund Market Price as of May 10 2021
    Bid/Ask

    Bid/Ask Mid Point

    (Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

    		 Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    		 Day High Day Low Exchange Volume (Shares)

    Exchange Volume (shares)

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

    		 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)

    		 30-Day Median Bid/Ask Spread

    The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.
    $30.05 $30.05 $30.08 $30.08 1 0.06% 0.13%
    Bid/Ask

    Bid/Ask Mid Point

    (Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

    		 $30.05
    Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    		 $30.05
    Day High $30.08
    Day Low $30.08
    Exchange Volume (Shares)

    Exchange Volume (shares)

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

    		 1
    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)

    		 0.06%
    30-Day Median Bid/Ask Spread

    The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

    		 0.13%

    Premium Discount to NAV Graph and Summary

    The line graph and table below show historical information about the differences between the daily closing price for shares of the fund (as determined by the fund’s listing exchange) and the fund’s net asset value over certain periods. The vertical axis of the line graph shows the premium/discount expressed as a percentage of NAV. The horizontal axis indicates the date at which the premium/discount occurred. The table shows the number of trading days in which the fund traded at a premium or at a discount to NAV.

    x axis: Dates
    y axis: Premium or Discount (bps)

    Number of Days Summary

    Calendar Year 2020 First Quarter of 2021
    Days Traded at Premium
    Number of days the ETF closing price was above the NAV.
    		 - 38
    Days Traded at Discount
    Number of days the ETF closing price was below the NAV.
    		 - 1
    Days Traded at Premium
    Number of days the ETF closing price was above the NAV.
    Calendar Year 2020 -
    First Quarter of 2021 38
    Days Traded at Discount
    Number of days the ETF closing price was below the NAV.
    Calendar Year 2020 -
    First Quarter of 2021 1
    Fund Data

    Because ETFs trade like stocks at current market prices, shareholders may pay more than a fund’s NAV when purchasing fund shares and may receive less than a fund’s NAV when selling fund shares.

    Premium/discount information will be displayed in the Number of Days Summary table following the completion of the current calendar quarter.

    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.

    Fund Net Cash Amount as of May 10 2021

    Fund Net Cash Amount as of May 10 2021
    Net Cash Amount
    $3,424,938.52
    Net Cash Amount $3,424,938.52

    Fund Net Asset Value as of May 10 2021

    Fund Net Asset Value as of May 10 2021
    NAV

    NAV

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

    		 Shares Outstanding Assets Under Management
    $30.03 1.50 M $45.05 M
    NAV

    NAV

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

    		 $30.03
    Shares Outstanding 1.50 M
    Assets Under Management $45.05 M
    Most Recent NAV / NAV History

    Top Holdings

    Subject to change.

    Top Holdings

    Subject to change.

    Fund Top Holdingsas of May 10 2021

    Fund Top Holdings as of May 10 2021

    Name Market Value ISIN Weight
    ENERGY N W WA ELEC REVENUE 1,347,903.00 US29270C3M53 2.99%
    WASHINGTON ST 1,346,226.00 US93974ELQ79 2.99%
    FLORIDA ST BRD OF EDU PUBLIC E 1,330,082.00 US34153QUY06 2.95%
    UNIV OF WASHINGTON WA UNIV REV 1,326,108.00 US91523NVD55 2.94%
    GEORGIA ST 1,314,688.00 US373385EC32 2.92%
    MET COUNCIL MINNEAPOLIS-SAINT 1,303,126.00 US591852Z763 2.89%
    NEW JERSEY ST ECON DEV AUTH RE 1,294,966.00 US64577B7F54 2.87%
    KNOXVILLE TN WSTWTR SYS REVENU 1,271,359.00 US499815C895 2.82%
    FORT BEND TX INDEP SCH DIST 1,259,401.00 US346843MA02 2.79%
    MIAMI-DADE CNTY FL WTR & SWR R 1,230,288.00 US59334DMH43 2.73%
    Download All Holdings: Daily

    Sector Allocation

    Sector Allocation
    Fund Sector Breakdownas of May 10 2021
    Index Sector Breakdownas of May 10 2021

    Fund Sector Breakdown as of May 10 2021

    Sector Weight
    Muni State 14.29%
    Muni Transportation 13.71%
    Muni Special Tax 12.29%
    Muni Local 11.65%
    Muni Leasing 7.57%
    Muni Education 7.35%
    Muni Water & Sewer 7.31%
    Not Classified 6.89%
    Muni Industrial Revenue 6.49%
    Muni Power 6.20%
    Muni Health Care 3.55%
    Muni Housing 2.70%

    Index Sector Breakdown as of May 10 2021

    Sector Weight
    Muni State 18.05%
    Muni Local 16.17%
    Muni Transportation 15.30%
    Muni Special Tax 10.42%
    Muni Water & Sewer 8.80%
    Muni Leasing 7.17%
    Muni Health Care 6.84%
    Muni Education 6.22%
    Muni Industrial Revenue 5.11%
    Muni Power 4.66%
    Muni Housing 1.18%
    Muni Solid Waste/Res Recovery 0.06%

    Quality Breakdown

    Quality Breakdown
    Fund Quality Breakdownas of May 10 2021
    Index Quality Breakdownas of May 10 2021

    Fund Quality Breakdown as of May 10 2021

    Name Weight
    Aaa 26.76%
    Aa 37.63%
    A 18.65%
    Baa 9.84%
    Ba 3.19%
    Caa 0.85%
    NR 3.09%

    Index Quality Breakdown as of May 10 2021

    Name Weight
    Aaa 16.67%
    Aa 51.78%
    A 23.77%
    Baa 7.78%

    Maturity Ladder

    Maturity Ladder
    Fund Maturity Ladderas of May 10 2021
    Index Maturity Ladderas of May 10 2021

    Fund Maturity Ladder as of May 10 2021

    Name Weight
    0- 1 Year 7.18%
    1- 3 Year 2.58%
    3- 5 Year 8.75%
    5- 7 Year 10.96%
    7- 10 Year 17.69%
    10- 15 Year 29.54%
    15- 20 Year 15.55%
    20- 25 Year 4.83%
    25- 30 Year 1.97%
    30+ Year 0.95%

    Index Maturity Ladder as of May 10 2021

    Name Weight
    1-2 Year 0.24%
    2- 3 Year 9.53%
    3- 5 Year 16.77%
    5- 7 Year 14.54%
    7- 10 Year 19.69%
    Not Classified 39.23%

    Top Ten States

    Top Ten States
    Fund Top Ten Statesas of May 10 2021

    Fund Top Ten States as of May 10 2021

    Name Weight
    Name Weight
    NEW YORK-NY 15.70%
    CALIFORNIA-CA 15.18%
    TEXAS-TX 9.70%
    WASHINGTON-WA 9.33%
    FLORIDA-FL 8.70%
    Not Classified 6.89%
    NEW JERSEY-NJ 5.73%
    ILLINOIS-IL 3.08%
    OREGON-OR 3.07%
    COLORADO-CO 2.97%
    Fund Documents
    Insights & Resources

    Purchase Information

    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 may apply.

    Fund Footnotes

    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.

    Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future.

    Unless otherwise noted all information contained herein is that of the SPDR® Nuveen Municipal Bond ETF.

    State Street Global Advisors Funds Distributors, LLC is the distributor for some registered products on behalf of the advisor. SSGA Funds Management, Inc. has retained Nuveen Asset Management as the sub-advisor. State Street Global Advisors Funds Distributors, LLC is not affiliated with Nuveen Asset Management.

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