EFAX: SPDR® MSCI EAFE Fossil Fuel Reserves Free ETF

NAV

$72.31

as of Jan 23 2020

Base Currency

USD

Assets Under Management

$101.23 M

as of Jan 23 2020

Gross Expense Ratio

0.30%

Quick Links

Key Features

The SPDR^® MSCI EAFE Fossil Fuel Reserves Free ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI EAFE ex Fossil Fuels Index (the "Index")
First ever international developed markets fossil fuel reserves free ETF
Seeks to offer climate-conscious investors exposure to international equities while limiting exposure to companies owning fossil fuel reserves
For investors interested in minimizing fossil fuel reserves exposure from their portfolio, EFAX may serve as an alternative to traditional international developed markets exposure

About this Benchmark

The MSCI EAFE ex Fossil Fuels Index (the "Index") is designed to measure the performance of companies in the MSCI EAFE Index that are "fossil fuel reserves free," which are defined as companies that do not own fossil fuel reserves. For purposes of the composition of the Index, fossil fuel reserves are defined as proved and probable coal, oil or natural gas reserves used for energy purposes, but do not include metallurgical or coking coal, which is primarily used in connection with steel production. The Index is a subset of the MSCI EAFE Index (the "Parent Index"), which serves as the initial universe of eligible securities for the Index. The Parent Index captures large and mid-capitalization representation across developed market Europe, Australasia, and Far East countries, excluding the United States and Canada.

Fund Information as of Jan 23 2020

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.	Net Expense Ratio ^ SSGA Funds Management, Inc. ("SSGA FM" or "Adviser") has contractually agreed to waive its management fee and/or reimburse certain expenses, until January 31, 2020, so that the net annual Fund operating expenses of the Fund, before application of any fees and expenses not paid by the Adviser pursuant to the Investment Advisory Agreement, if any, are limited to 0.20% of the Fund's average daily net assets. The contractual fee waiver and/or reimbursement does not provide for the recoupment by the Adviser of any fees the Adviser previously waived. The Adviser may continue the waiver and/or reimbursement from year to year, but there is no guarantee that the Adviser will do so and the waiver and/or reimbursement may be cancelled or modified at any time after January 31, 2020. This waiver and/or reimbursement may not be terminated prior to January 31, 2020 except with the approval of the Fund's Board of Trustees.	Base Currency	Investment Manager
MSCI EAFE ex Fossil Fuels Index	Oct 24 2016	No	0.30%	0.20%	USD	SSGA Funds Management, Inc.

Benchmark	MSCI EAFE ex Fossil Fuels Index
Inception Date	Oct 24 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.	0.30%
Net Expense Ratio ^ SSGA Funds Management, Inc. ("SSGA FM" or "Adviser") has contractually agreed to waive its management fee and/or reimburse certain expenses, until January 31, 2020, so that the net annual Fund operating expenses of the Fund, before application of any fees and expenses not paid by the Adviser pursuant to the Investment Advisory Agreement, if any, are limited to 0.20% of the Fund's average daily net assets. The contractual fee waiver and/or reimbursement does not provide for the recoupment by the Adviser of any fees the Adviser previously waived. The Adviser may continue the waiver and/or reimbursement from year to year, but there is no guarantee that the Adviser will do so and the waiver and/or reimbursement may be cancelled or modified at any time after January 31, 2020. This waiver and/or reimbursement may not be terminated prior to January 31, 2020 except with the approval of the Fund's Board of Trustees.	0.20%
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	Semi-Annually

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

Listing Information as of Jan 23 2020

Exchange	Listing Date	Trading Currency	Ticker	CUSIP	ISIN
NYSE ARCA EXCHANGE	Oct 25 2016	USD	EFAX	78470E106	US78470E1064

Exchange	NYSE ARCA EXCHANGE
Listing Date	Oct 25 2016
Trading Currency	USD
Ticker	EFAX
CUSIP	78470E106
ISIN	US78470E1064

Fund Characteristics as of Jan 23 2020

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.	Number of Holdings	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.	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.	Weighted Average Market Cap
8.50%	870	1.75	16.05	$63,744.20 M

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.	8.50%
Number of Holdings	870
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.	1.75
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.	16.05
Weighted Average Market Cap	$63,744.20 M

Index Characteristics as of Dec 31 2019

Est. 3-5 Year EPS Growth	Number of Holdings	Price/Cash Flow	Price/Earnings	Price/Earnings Ratio FY1
8.29%	863	8.78	16.52	15.92

Est. 3-5 Year EPS Growth	8.29%
Number of Holdings	863
Price/Cash Flow	8.78
Price/Earnings	16.52
Price/Earnings Ratio FY1	15.92

Index Statistics as of Dec 31 2019

	Average Size		Size Range
Weighted Average Market Cap	Mean	Median	Largest	Smallest
$54,418.69 M	-	-	-	-

Weighted Average Market Cap	$54,418.69 M
Average Size
Mean	-
Median	-
Size Range
Largest	-
Smallest	-

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.	30 Day SEC Yield (Unsubsidized) 30 Day SEC Yield (Unsubsidized) 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 that does not account for expense ratio waivers.	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.	Index Dividend Yield Index Dividend Yield The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.
2.50%	2.40%	2.71%	2.96%

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.	2.50%
30 Day SEC Yield (Unsubsidized) 30 Day SEC Yield (Unsubsidized) 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 that does not account for expense ratio waivers.	2.40%
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.	2.71%
Index Dividend Yield Index Dividend Yield The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.	2.96%

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)
$72.98	$72.98	$72.98	$72.70	1,350	0.93%

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.	$72.98
Closing Price Closing Price Market Price of last reported trade on the exchange.	$72.98
Day High	$72.98
Day Low	$72.70
Exchange Volume (Shares) Exchange Volume (shares) Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.	1,350
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)	0.93%

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
$185,785.64

Net Cash Amount

$185,785.64

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
$72.31	1.40M	$101.23 M

NAV NAV The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.	$72.31
Shares Outstanding	1.40M
Assets Under Management	$101.23 M

Most Recent NAV / NAV History

Fund Performance
View as

Fund Performance

Fund Inception Date: Oct 24 2016

Performance

Month End Quarter End

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Oct 24 2016
Fund Before Tax
NAV	Dec 31 2019	3.19%	8.38%	22.86%	22.86%	9.46%	-	-	9.07%
Market Value	Dec 31 2019	3.02%	8.23%	23.56%	23.56%	9.68%	-	-	9.20%
MSCI EAFE ex Fossil Fuels Index	Dec 31 2019	3.20%	8.45%	22.97%	22.97%	9.47%	-	-	9.02%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	2.78%	7.95%	21.44%	21.44%	8.55%	-	-	8.19%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	1.89%	4.96%	13.48%	13.48%	7.12%	-	-	6.83%
MSCI EAFE ex Fossil Fuels Index	Dec 31 2019	3.20%	8.45%	22.97%	22.97%	9.47%	-	-	9.02%

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Oct 24 2016
Fund Before Tax
NAV	Dec 31 2019	3.19%	8.38%	22.86%	22.86%	9.46%	-	-	9.07%
Market Value	Dec 31 2019	3.02%	8.23%	23.56%	23.56%	9.68%	-	-	9.20%
MSCI EAFE ex Fossil Fuels Index	Dec 31 2019	3.20%	8.45%	22.97%	22.97%	9.47%	-	-	9.02%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	2.78%	7.95%	21.44%	21.44%	8.55%	-	-	8.19%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	1.89%	4.96%	13.48%	13.48%	7.12%	-	-	6.83%
MSCI EAFE ex Fossil Fuels Index	Dec 31 2019	3.20%	8.45%	22.97%	22.97%	9.47%	-	-	9.02%

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: 0.30%

Net Expense Ratio: 0.20%

Top Holdings
Subject to change.

Top Holdings

Fund Top Holdingsas of Jan 23 2020

Index Top Holdingsas of Dec 31 2019

Fund Top Holdings as of Jan 23 2020

Name	Shares Held	Weight
Nestle S.A.	22,175	2.45%
Roche Holding AG	5,233	1.75%
Novartis AG	16,000	1.50%
Toyota Motor Corp.	17,000	1.21%
HSBC Holdings Plc	150,309	1.12%
SAP SE	7,314	0.99%
AstraZeneca PLC	9,824	0.98%
AIA Group Limited	90,000	0.95%
LVMH Moet Hennessy Louis Vuitton SE	2,082	0.94%
ASML Holding NV	3,187	0.92%

Download All Holdings: Daily

Index Top Holdings as of Dec 31 2019

Name	Weight
Nestle S.A.	2.38%
Roche Holding AG	1.69%
Novartis AG	1.51%
Toyota Motor Corp.	1.20%
HSBC Holdings Plc	1.17%
SAP SE	0.98%
AstraZeneca PLC	0.98%
LVMH Moet Hennessy Louis Vuitton SE	0.96%
AIA Group Limited	0.94%
ASML Holding NV	0.93%

Sector Allocation

Fund Sector Breakdownas of Jan 23 2020

Index Sector Breakdownas of Dec 31 2019

Fund Sector Breakdown as of Jan 23 2020

Sector	Weight
Financials	20.06%
Industrials	15.17%
Health Care	13.66%
Consumer Discretionary	12.53%
Consumer Staples	12.44%
Information Technology	7.98%
Materials	6.11%
Communication Services	5.69%
Real Estate	3.87%
Utilities	2.23%
Energy	0.26%

Index Sector Breakdown as of Dec 31 2019

Sector	Weight
Financials	20.35%
Industrials	15.14%
Health Care	13.38%
Consumer Discretionary	12.71%
Consumer Staples	12.38%
Information Technology	7.77%
Materials	6.28%
Communication Services	5.70%
Real Estate	3.85%
Utilities	2.18%
Energy	0.25%

Geographical Breakdown

Fund Documents

ETF Historical Distributions

Tax Documents

SPDR ICI Tax Summary (Primary)

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

Notice to APs: Index Methodology Changes for EEMX, EFAX

Notice to APs: Basket Composition on 11/26/2019

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® MSCI EAFE Fossil Fuel Reserves Free ETF.

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.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with SSGA Funds Management, Inc and any related funds.

MSCI - Net total return indices reinvest dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

SPDR® MSCI EAFE Fossil Fuel Reserves Free ETF EFAX

Important Risk Disclosure