DWFI: SPDR® Dorsey Wright® Fixed Income Allocation ETF

NAV

$23.75

as of Jan 23 2020

Base Currency

USD

Assets Under Management

$117.55 M

as of Jan 23 2020

Gross Expense Ratio

0.60%

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Key Features

The SPDR^® Dorsey Wright^® Fixed Income Allocation ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Dorsey Wright Fixed Income Allocation Index (the "Index")
Seeks to provide fixed income exposure that takes advantage of Dorsey, Wright^® & Associates' (DWA) rules-based, signal-driven and momentum-focused technical index methodology
Seeks to capture the strongest fixed income trends based on price momentum, while mitigating the weakest, to complement a diversified core bond exposure

About the Primary Benchmark

The Dorsey Wright Fixed Income Allocation Index is owned and developed by Dorsey, Wright & Associates (the "Index Provider") and is constructed pursuant to the Index Provider's proprietary methodology. The selection universe for the Index (the "SelectionUniverse") includes U.S.-listed fixed income ETFs advised by SSGA FM or its affiliates that are designed to target exposure to fixed income securities, including U.S. and non-U.S. developed and emerging market bonds, treasury bonds, corporate bonds, high yield bonds, inflation-protected bonds, floating rate notes, first lien senior secured floating rate bank loans, U.S nonconvertible preferred stock and other preferred securities, U.S. municipal bonds and U.S. convertible securities.

About the Secondary Benchmark

The Bloomberg Barclays U.S. Aggregate Bond Index (the "Index") is designed to measure the performance of the U.S. dollar denominated investment grade bond market, which includes investment grade (must be Baa3/BBB- or higher using the middle rating of Moody's Investors Service, Inc., Standard & Poor's Financial Services, LLC, and Fitch Inc.) government bonds, investment grade corporate bonds, mortgage pass through securities, commercial mortgage backed securities and other asset backed securities that are publicly for sale in the United States. The securities in the Index must have at least 1 year remaining to maturity and must have $300 million or more of outstanding face value. Asset backed securities must have a minimum deal size of $500 million and a minimum tranche size of $25 million. For commercial mortgage backed securities, the original aggregate transaction must have a minimum deal size of $500 million, and a minimum tranche size of $25 million; the aggregate outstanding transaction sizes must be at least $300 million to remain in the Index. In addition, the securities must be U.S. dollar denominated, fixed rate, non-convertible, and taxable. The Index is market capitalization weighted.

Fund Information as of Jan 23 2020

Primary Benchmark	Secondary 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	Investment Manager
Dorsey Wright Fixed Income Allocation Index	Bloomberg Barclays U.S. Aggregate Bond Index	Jun 01 2016	No	0.60%	USD	SSGA Funds Management, Inc.

Primary Benchmark	Dorsey Wright Fixed Income Allocation Index
Secondary Benchmark	Bloomberg Barclays U.S. Aggregate Bond Index
Inception Date	Jun 01 2016
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.	0.60%
Base Currency	USD
Investment Manager	SSGA Funds Management, Inc.

Management Team	Distributor	Distribution Frequency
Global Equity Beta Solutions	State Street Global Advisors Funds Distributors, LLC	Monthly

Management Team	Global Equity Beta Solutions
Distributor	State Street Global Advisors Funds Distributors, LLC
Distribution Frequency	Monthly

Listing Information as of Jan 23 2020

Exchange	Listing Date	Trading Currency	Ticker	CUSIP	ISIN
NASDAQ REGULAR MARKET	Jun 02 2016	USD	DWFI	78468R713	US78468R7136

Exchange	NASDAQ REGULAR MARKET
Listing Date	Jun 02 2016
Trading Currency	USD
Ticker	DWFI
CUSIP	78468R713
ISIN	US78468R7136

Fund Characteristics as of Jan 23 2020

Number of Holdings
4

Number of Holdings

Index Characteristics as of Jan 23 2020

Number of Holdings
4

Number of Holdings

Yields as of Jan 23 2020

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.
3.34%	3.61%

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.	3.34%
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.	3.61%

Fund Market Price as of Jan 23 2020

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 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)
$23.76	$23.76	$23.77	$23.74	7,206	0.03%

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 a given security.	$23.76
Closing Price Closing Price Market Price of last reported trade on the exchange.	$23.76
Day High	$23.77
Day Low	$23.74
Exchange Volume (Shares) Exchange Volume (shares) Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.	7,206
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)	0.03%

Premium Discount to Nav

Quarter

x axis: # of days

y axis: # Premium/Discount percentage

Fund Data

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.

Fund Net Cash Amount as of Jan 23 2020

Net Cash Amount
-$17,100.89

Net Cash Amount

-$17,100.89

Fund Net Asset Value as of Jan 23 2020

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
$23.75	4.95M	$117.55 M

NAV NAV The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.	$23.75
Shares Outstanding	4.95M
Assets Under Management	$117.55 M

Most Recent NAV / NAV History

Fund Performance
View as

Fund Performance

Fund Inception Date: Jun 01 2016

Performance

Month End Quarter End

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Jun 01 2016
Fund Before Tax
NAV	Dec 31 2019	0.70%	0.58%	9.40%	9.40%	2.85%	-	-	2.20%
Market Value	Dec 31 2019	0.63%	0.58%	9.37%	9.37%	2.99%	-	-	2.20%
Dorsey Wright Fixed Income Allocation Index Primary Index	Dec 31 2019	0.73%	0.70%	9.55%	9.55%	2.82%	-	-	2.22%
Bloomberg Barclays U.S. Aggregate Bond Index Secondary Index	Dec 31 2019	-0.07%	0.18%	8.72%	8.72%	4.03%	3.05%	3.75%	3.15%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	0.48%	0.16%	7.77%	7.77%	1.25%	-	-	0.63%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	0.42%	0.34%	5.54%	5.54%	1.53%	-	-	1.05%
Dorsey Wright Fixed Income Allocation Index Primary Index	Dec 31 2019	0.73%	0.70%	9.55%	9.55%	2.82%	-	-	2.22%
Bloomberg Barclays U.S. Aggregate Bond Index Secondary Index	Dec 31 2019	-0.07%	0.18%	8.72%	8.72%	4.03%	3.05%	3.75%	3.15%

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Jun 01 2016
Fund Before Tax
NAV	Dec 31 2019	0.70%	0.58%	9.40%	9.40%	2.85%	-	-	2.20%
Market Value	Dec 31 2019	0.63%	0.58%	9.37%	9.37%	2.99%	-	-	2.20%
Dorsey Wright Fixed Income Allocation Index Primary Index	Dec 31 2019	0.73%	0.70%	9.55%	9.55%	2.82%	-	-	2.22%
Bloomberg Barclays U.S. Aggregate Bond Index Secondary Index	Dec 31 2019	-0.07%	0.18%	8.72%	8.72%	4.03%	3.05%	3.75%	3.15%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	0.48%	0.16%	7.77%	7.77%	1.25%	-	-	0.63%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	0.42%	0.34%	5.54%	5.54%	1.53%	-	-	1.05%
Dorsey Wright Fixed Income Allocation Index Primary Index	Dec 31 2019	0.73%	0.70%	9.55%	9.55%	2.82%	-	-	2.22%
Bloomberg Barclays U.S. Aggregate Bond Index Secondary Index	Dec 31 2019	-0.07%	0.18%	8.72%	8.72%	4.03%	3.05%	3.75%	3.15%

as of Dec 31 2019

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: 0.60%

Top Holdings
Subject to change.

Top Holdings

Fund Top Holdingsas of Jan 23 2020

Index Top Holdingsas of Jan 23 2020

Fund Top Holdings as of Jan 23 2020

Name	Shares Held	Weight
SPDR Portfolio Long Term Corporate Bond ETF	974,357	25.59%
SPDR Nuveen Bloomberg Barclays Municipal Bond ETF	569,242	24.91%
SPDR Bloomberg Barclays High Yield Bond ETF	264,514	24.69%
SPDR Portfolio Intermediate Term Corporate Bond ETF	815,288	24.67%

Download All Holdings: Daily

Index Top Holdings as of Jan 23 2020

Name	Weight
SPDR Portfolio Long Term Corporate Bond ETF	25.63%
SPDR Nuveen Bloomberg Barclays Municipal Bond ETF	24.94%
SPDR Bloomberg Barclays High Yield Bond ETF	24.72%
SPDR Portfolio Intermediate Term Corporate Bond ETF	24.70%

Asset Allocation

Fund Asset Allocationas of Jan 23 2020

Index Asset Allocationas of Jan 23 2020

Fund Asset Allocation as of Jan 23 2020

Sector	Weight
High Yield	24.72%
Investment Grade	50.33%
Municipal Bonds	24.94%

Index Asset Allocation as of Jan 23 2020

Sector	Weight
High Yield	24.72%
Investment Grade	50.33%
Municipal Bonds	24.94%

Asset Allocation is a method of diversification which positions assets among major investment categories. Asset Allocation may be used in an effort to manage risk and enhance returns. It does not, however, guarantee a profit or protect against loss.

Fund Documents

ETF Historical Distributions

Tax Documents

American Jobs Creation Act QII (2019)

SPDR ICI Tax Summary (Primary)

American Job Creation Act QII (2018)

SPDR ICI Tax Summary (Secondary)

Information & Schedules

SPDR® ETF Listing

Notice to APs- Changes to the US SPDR Website 12.11.19

SPDR Dividend Distribution Schedule

SPDR ETFs 2019 Estimated Capital Gains

Insights & Investment Ideas

Education

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^® Dorsey Wright^® Fixed Income Allocation ETF.

Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. Dorsey Wright and State Street are not affiliated.

The Fund is not sponsored or sold by Dorsey, Wright & Associates, LLC (collectively with its parent companies and affiliates, "Dorsey Wright"). Dorsey Wright makes no representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding the advisability of trading in the Fund.

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.

SPDR® Dorsey Wright® Fixed Income Allocation ETF DWFI

Important Risk Disclosure