VLU: SPDR® S&P® 1500 Value Tilt ETF

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	Management Team
S&P 1500 Low Valuation Tilt Index	Oct 24 2012	No	0.12%	USD	SSGA Funds Management, Inc.	Global Equity Beta Solutions

Exchange	Listing Date	Trading Currency	Ticker	CUSIP	ISIN
NYSE ARCA EXCHANGE	Oct 25 2012	USD	VLU	78464A128	US78464A1280

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
7.83%	1,377	1.43	12.13	$174,472.00 M

Est. 3-5 Year EPS Growth	Number of Holdings	Price/Cash Flow	Price/Earnings	Price/Earnings Ratio FY1
7.82%	1,441	6.31	12.08	12.15

	Average Size	Size Range
$152,998.16 M	$15,237.46 M	$2,248.99 M	$1,114,862.30 M	$13.92 M

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)
$78.88	$79.01	$82.20	$78.72	700	0.45%

Net Cash Amount
$19,877.47

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Oct 24 2012
Fund Before Tax
NAV	Feb 29 2020	-9.67%	-12.07%	-12.07%	0.14%	4.98%	6.33%	-	10.82%
Market Value	Feb 29 2020	-9.72%	-12.19%	-12.19%	0.15%	4.93%	6.28%	-	10.81%
S&P 1500 Low Valuation Tilt Index	Feb 29 2020	-9.70%	-12.08%	-12.08%	0.16%	5.06%	6.40%	-	11.04%
Fund After Tax
Return after Taxes on Distributions	Feb 29 2020	-9.67%	-12.07%	-12.07%	-0.44%	4.37%	5.46%	-	9.77%
Return after Taxes on Distributions and Sale of Fund Shares	Feb 29 2020	-5.73%	-7.14%	-7.14%	0.50%	3.79%	4.76%	-	8.46%
S&P 1500 Low Valuation Tilt Index	Feb 29 2020	-9.70%	-12.08%	-12.08%	0.16%	5.06%	6.40%	-	11.04%

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Oct 24 2012
Fund Before Tax
NAV	Dec 31 2019	2.79%	8.57%	26.37%	26.37%	11.14%	9.44%	-	13.08%
Market Value	Dec 31 2019	2.77%	8.61%	26.37%	26.37%	11.16%	9.46%	-	13.09%
S&P 1500 Low Valuation Tilt Index	Dec 31 2019	2.82%	8.62%	26.44%	26.44%	11.24%	9.54%	-	13.32%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	2.64%	8.41%	25.64%	25.64%	10.50%	8.56%	-	11.98%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	1.75%	5.18%	16.02%	16.02%	8.57%	7.21%	-	10.30%
S&P 1500 Low Valuation Tilt Index	Dec 31 2019	2.82%	8.62%	26.44%	26.44%	11.24%	9.54%	-	13.32%

Name	Shares Held	Total Mkt Cap M	Weight
Walmart Inc.	4,034	$338,400.47	3.62%
Apple Inc.	1,881	$1,056,284.60	3.41%
Berkshire Hathaway Inc. Class B	1,938	$246,528.66	2.59%
AT&T Inc.	10,112	$196,967.39	2.08%
Microsoft Corporation	1,635	$1,170,038.30	1.89%
JPMorgan Chase & Co.	2,605	$258,367.73	1.64%
CVS Health Corporation	3,703	$72,667.80	1.55%
Verizon Communications Inc.	3,702	$226,458.00	1.52%
Bank of America Corp	9,109	$174,832.47	1.37%
Exxon Mobil Corporation	4,198	$165,944.20	1.23%

Name	Weight
Walmart Inc.	3.63%
Apple Inc.	3.42%
Berkshire Hathaway Inc. Class B	2.60%
AT&T Inc.	2.09%
Microsoft Corporation	1.89%
JPMorgan Chase & Co.	1.65%
CVS Health Corporation	1.55%
Verizon Communications Inc.	1.52%
Bank of America Corp	1.37%
Amazon.com Inc.	1.24%

Sector	Weight
Financials	18.75%
Information Technology	15.43%
Health Care	14.00%
Consumer Staples	11.33%
Communication Services	9.40%
Industrials	8.74%
Consumer Discretionary	7.88%
Energy	4.86%
Utilities	4.36%
Materials	2.82%
Real Estate	2.43%

Sector	Weight
Financials	18.74%
Information Technology	15.41%
Health Care	14.04%
Consumer Staples	11.35%
Communication Services	9.37%
Industrials	8.41%
Consumer Discretionary	7.89%
Energy	4.86%
Utilities	4.39%
Materials	2.83%
Real Estate	2.42%
Unassigned	0.29%

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.

Unless otherwise noted all information contained herein is that of the SPDR S&P 1500 Value Tilt ETF.

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.

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.

Distributor	State Street Global Advisors Funds Distributors, LLC
Distribution Frequency	Quarterly

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.	3.24%
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.	3.24%
Index Dividend Yield Index Dividend Yield The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.	3.23%

NAV NAV The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.	$78.53
Shares Outstanding	170,000.00
Assets Under Management	$13.35 M

SPDR® S&P® 1500 Value Tilt ETF VLU

Important Risk Disclosure

Key Features

About this Benchmark

Fund Information as of Apr 03 2020

Listing Information as of Apr 03 2020

Fund Characteristics as of Apr 03 2020

Index Characteristics as of Apr 03 2020

Index Statistics as of Apr 03 2020

Yields as of Apr 03 2020

Fund Market Price as of Apr 03 2020

Premium Discount to Nav

Fund Net Cash Amount as of Apr 03 2020

Fund Net Asset Value as of Apr 03 2020

Fund Performance
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Top Holdings
Subject to change.

Fund Top Holdings as of Apr 03 2020

Index Top Holdings as of Apr 03 2020

Sector Allocation

Fund Sector Breakdown as of Apr 03 2020

Index Sector Breakdown as of Apr 03 2020

Fund Documents

Tax Documents

Information & Schedules

Insights & Investment Ideas

Education

Purchase Information

	Average Size		Size Range
Weighted Average Market Cap	Mean	Median	Largest	Smallest
$152,998.16 M	$15,237.46 M	$2,248.99 M	$1,114,862.30 M	$13.92 M