SPDR® S&P Kensho Clean Power ETF CNRG

Morningstar Fund Comparison

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.

Clean power companies may be highly dependent upon government subsidies, contracts with government entities, and the successful development of new and proprietary technologies. Clean power companies may be affected by competition from new and existing market entrants, obsolescence of technology, short product cycles, changes in exchange rates, imposition of import controls, and depletion of resources. In addition, seasonal weather conditions, fluctuations in supply of and demand for clean energy products or services, and international political events may cause fluctuations in the performance of clean power companies and the prices of their securities. Risks associated with fluctuations in energy prices and supply and demand of alternative energy fuels, energy conservation, the success of exploration projects and tax and other government regulations can significantly affect clean power companies.

When the Fund focuses its investments in a particular industry or sector, financial, economic, business, and other developments affecting issuers in that industry, market, or economic sector will have a greater effect on the Fund than if it had not done so.

Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.

Passively managed funds invest by sampling the index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.

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.

Intellectual Property Information: Standard & Poor’s^®, S&P^® and SPDR^® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

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.

The Fund's investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, or other events could have a significant impact on the Fund and its investments.

Morningstar Fund Comparison

NAV

$91.49

as of Dec 01 2022

Base Currency

USD

Assets Under Management

$361.84 M

as of Dec 01 2022

Gross Expense Ratio

0.45%

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Key Features

The SPDR S&P Kensho Clean Power ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Kensho Clean Power Index (the “Index”)
Seeks to track an index utilizing artificial intelligence and a quantitative weighting methodology to capture companies whose products and services are driving innovation behind the clean energy sector, which includes the areas of solar, wind, geothermal, and hydroelectric power
May provide an effective way to pursue long-term growth potential by investing in a portfolio of companies involved in the transition to lower emission generating power supply

About this Benchmark

The S&P Kensho Clean Power Index (the “Index”) is comprised of U.S.-listed equity securities (including depositary receipts) of companies domiciled across developed and emerging markets worldwide which are included in the Clean Power sector as determined by a classification standard produced by S&P Dow Jones Indices LLC (the “Index Provider”). The Index is designed to capture companies whose products and services are driving innovation behind clean power. In particular, the Index comprises the components of the S&P Kensho Cleantech Index and the S&P Kensho Clean Energy Index (the “Underlying Indexes”) as of the Index’s annual reconstitution day, subject to certain liquidity thresholds for each component. The S&P Kensho Cleantech Index seeks to track companies that offer products and services related to manufacturing the technology for renewable energy (solar, wind, hydro, geothermal), or are a necessary component of the supply chain for such products and services. The S&P Kensho Clean Energy Index seeks to track companies that offer products and services related to renewable energy (solar, wind, hydro, geothermal) generation and transmission, or are a necessary component of the supply chain for such products and services.

Fund Information as of Dec 03 2022

Benchmark	S&P Kensho Clean Power Index
Inception Date	Oct 22 2018
Options Available	No
Gross Expense Ratio	0.45%
Base Currency	USD
Administrator	State Street Global Advisors Funds Management Inc.
Investment Manager	SSGA Funds Management, Inc.
Management Team	Global Equity Beta Solutions
Distributor	State Street Global Advisors Funds Distributors, LLC
Distribution Frequency	Quarterly

Listing Information as of Dec 03 2022

Exchange	Listing Date	Trading Currency	Ticker	CUSIP	ISIN
NYSE ARCA EXCHANGE	Oct 23 2018	USD	CNRG	78468R655	US78468R6559

Fund Characteristics as of Dec 01 2022

Est. 3-5 Year EPS Growth	20.83%
Number of Holdings	46
Price/Book Ratio	2.47
Price/Earnings Ratio FY1	19.03
Weighted Average Market Cap	$31,880.10 M

Index Characteristics as of Dec 01 2022

Est. 3-5 Year EPS Growth	20.83%
Number of Holdings	46
Price/Cash Flow	13.35
Price/Earnings	23.68
Price/Earnings Ratio FY1	19.05

Index Statistics as of Dec 01 2022

	Average Size		Size Range
Weighted Average Market Cap	Mean	Median	Largest	Smallest
$31,923.33 M	$30,488.71 M	$4,434.81 M	$614,862.56 M	$114.31 M

Yields as of Dec 01 2022

30 Day SEC Yield	0.88%
30 Day SEC Yield (Unsubsidized)	-
Fund Distribution Yield	1.31%
Index Dividend Yield	1.27%

Fund Market Price as of Dec 01 2022

Bid/Ask	$91.50
Closing Price	$91.55
Day High	$93.64
Day Low	$91.54
Exchange Volume (Shares)	1,898
Premium/Discount	0.02%
30-Day Median Bid/Ask Spread	0.11%

Premium Discount to NAV Graph and Summary

Number of Days Summary

	Calendar Year 2021	First Quarter of 2022	Second Quarter of 2022	Third Quarter of 2022
Days Traded at Premium	128	14	36	45
Days Traded at Discount	124	48	26	19

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.

Fund Net Cash Amount as of Dec 01 2022

Net Cash Amount

$800,142.25

Fund Net Asset Value as of Dec 01 2022

NAV	$91.49
Shares Outstanding	3.96 M
Assets Under Management	$361.84 M

Most Recent NAV / NAV History

Fund Performance

Fund Inception Date: Oct 22 2018

as of Oct 31 2022

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Oct 22 2018
Fund Before Tax
NAV	Oct 31 2022	0.41%	0.41%	-4.74%	-20.94%	31.64%	-	-	31.45%
Market Value	Oct 31 2022	0.38%	0.38%	-4.66%	-20.90%	31.66%	-	-	31.47%
S&P Kensho Clean Power Index	Oct 31 2022	0.43%	0.43%	-4.41%	-20.65%	31.80%	23.22%	-	31.76%
Fund After Tax
Return after Taxes on Distributions	Oct 31 2022	0.41%	0.41%	-5.05%	-21.31%	31.02%	-	-	30.83%
Return after Taxes on Distributions and Sale of Fund Shares	Oct 31 2022	0.24%	0.24%	-2.80%	-12.32%	25.22%	-	-	25.60%
S&P Kensho Clean Power Index	Oct 31 2022	0.43%	0.43%	-4.41%	-20.65%	31.80%	23.22%	-	31.76%

as of Sep 30 2022

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Oct 22 2018
Fund Before Tax
NAV	Sep 30 2022	-11.71%	8.82%	-5.12%	-8.30%	31.27%	-	-	32.09%
Market Value	Sep 30 2022	-11.63%	8.90%	-5.02%	-8.22%	31.28%	-	-	32.12%
S&P Kensho Clean Power Index	Sep 30 2022	-11.70%	8.92%	-4.81%	-7.93%	31.43%	24.14%	-	32.41%
Fund After Tax
Return after Taxes on Distributions	Sep 30 2022	-11.76%	8.75%	-5.44%	-8.72%	30.65%	-	-	31.45%
Return after Taxes on Distributions and Sale of Fund Shares	Sep 30 2022	-6.93%	5.22%	-3.03%	-4.82%	24.91%	-	-	26.10%
S&P Kensho Clean Power Index	Sep 30 2022	-11.70%	8.92%	-4.81%	-7.93%	31.43%	24.14%	-	32.41%

Past performance is not a reliable indicator of future performance. 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. All results are historical and assume the reinvestment of dividends and capital gains. It is not possible to invest directly in an index.

Performance returns for periods of less than one year are not annualized. Performance is shown net of fees.

Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income as applicable.

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: 0.45%

Top Holdings

as of Dec 01 2022

Fund Top Holdings as of Dec 01 2022

Name	Shares Held	Weight
First Solar Inc.	121,304	5.66%
Enphase Energy Inc.	42,474	3.69%
Array Technologies Inc	645,298	3.66%
Constellation Energy Corporation	134,302	3.51%
ADT Inc.	1,179,828	3.16%
AES Corporation	391,314	3.11%
Shoals Technologies Group Inc. Class A	467,009	3.01%
SunPower Corporation	454,820	2.98%
Cummins Inc.	40,712	2.81%
Arcosa Inc.	161,522	2.81%

Download All Holdings: Daily

Index Top Holdings as of Dec 01 2022

Name	Weight
First Solar Inc.	5.67%
Enphase Energy Inc.	3.70%
Array Technologies Inc	3.67%
Constellation Energy Corporation	3.52%
ADT Inc.	3.17%
AES Corporation	3.12%
Shoals Technologies Group Inc. Class A	3.02%
SunPower Corporation	2.99%
Arcosa Inc.	2.82%
Cummins Inc.	2.81%

Sub-Industry Allocation

as of Dec 01 2022

Fund Sub-Industry Allocation as of Dec 01 2022

Sector	Weight
Electrical Components & Equipment	19.69%
Electric Utilities	16.10%
Semiconductors	12.10%
Semiconductor Equipment	9.68%
Renewable Electricity	8.48%
Construction & Engineering	6.31%
Heavy Electrical Equipment	4.59%
Multi-Utilities	3.69%
Independent Power Producers & Energy Traders	3.68%
Specialized Consumer Services	3.17%
Construction Machinery & Heavy Trucks	2.81%
Industrial Conglomerates	2.65%
Gas Utilities	2.52%
Oil & Gas Storage & Transportation	2.09%
Automobile Manufacturers	1.93%
Industrial Machinery	0.50%

Index Sub-Industry Allocation as of Dec 01 2022

Sector	Weight
Electrical Components & Equipment	19.71%
Electric Utilities	16.10%
Semiconductors	12.10%
Semiconductor Equipment	9.67%
Renewable Electricity	8.47%
Construction & Engineering	6.31%
Heavy Electrical Equipment	4.59%
Independent Power Producers & Energy Traders	3.68%
Multi-Utilities	3.68%
Specialized Consumer Services	3.17%
Construction Machinery & Heavy Trucks	2.81%
Industrial Conglomerates	2.66%
Gas Utilities	2.52%
Oil & Gas Storage & Transportation	2.09%
Automobile Manufacturers	1.94%
Industrial Machinery	0.50%

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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.

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^® S&P Kensho Clean Power ETF.

KENSHO^© is a registered service mark of Kensho Technologies Inc. (“Kensho”), and all Kensho financial indices in the Kensho New Economies^© family and such indices’ corresponding service marks have been licensed by the Licensee in connection with the SPDR Kensho Intelligent Structures ETF, SPDR Kensho Smart Mobility ETF, SPDR Kensho Future Security ETF, SPDR Kensho Clean Power ETF, SPDR Kensho Final Frontiers ETF and SPDR Kensho New Economies Composite ETF (collectively, the “SPDR ETFs”). The SPDR ETFs are not marketed, sold, or sponsored by Kensho, Kensho’s affiliates, or Kensho’s third party licensors.

Kensho is not an investment adviser or broker-dealer and Kensho makes no representation regarding the advisability of investing in any investment fund, other investment vehicle, security or other financial product regardless of whether or not it is based on, derived from, or included as a constituent of any Kensho New Economies^© family index. Kensho bears no responsibility or liability for any business decision, input, recommendation, or action taken based on Kensho indices or any products based on, derived from, or included as a constituent of any such index. All referenced names and trademarks are the property of their respective owners.

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.

Prior to 12/10/2018, the S&P Kensho Clean Power Index was known as the Kensho Clean Power Index.

Prior to 06/25/2019, the SPDR S&P Kensho Clean Power ETF was known as the SPDR Kensho Clean Power ETF. Prior to 06/25/2019, the ticker for CNRG was XKCP.

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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.

Not FDIC Insured * No Bank Guarantee * May Lose Value

2732006.7.1.AM.INST

Exp. 01.31.2023

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