XSW: SPDR® S&P® Software & Services ETF

NAV

$107.94

as of Jan 23 2020

Base Currency

USD

Assets Under Management

$242.86 M

as of Jan 23 2020

Gross Expense Ratio

0.35%

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Key Features

The SPDR^® S&P^® Software & Services ETFseeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P^® Software & Services Select Industry^® Index (the "Index")
Seeks to provide exposure to the software and services segment of the S&P TMI, which comprises the following sub-industries: Application Software, Data Processing & Outsourced Services, Home Entertainment Software, IT Consulting & Other Services, and Systems Software
Seeks to track a modified equal weighted index which provides the potential for unconcentrated industry exposure across large, mid and small cap stocks
Allows investors to take strategic or tactical positions at a more targeted level than traditional sector based investing

About this Benchmark

The S&P Software & Services Select Industry Index (the "Index") represents the software and services segment of the S&P Total Market Index ("S&P TMI"). The S&P TMI is designed to track the broad U.S. equity market. The software and services segment of the S&P TMI comprises the following sub-industries: Application Software, Data Processing & Outsourced Services, Home Entertainment Software, IT Consulting & Other Services, and Systems Software. The Index is one of twenty-one (21) of the S&P Select Industry Indices (the "Select Industry Indices"), each designed to measure the performance of a narrow sub- industry or group of sub-industries determined based on the Global Industry Classification Standard ("GICS").

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.	Base Currency	Investment Manager	Management Team
S&P Software & Services Select Industry Index	Sep 28 2011	No	0.35%	USD	SSGA Funds Management, Inc.	Global Equity Beta Solutions

Benchmark	S&P Software & Services Select Industry Index
Inception Date	Sep 28 2011
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.	0.35%
Base Currency	USD
Investment Manager	SSGA Funds Management, Inc.
Management Team	Global Equity Beta Solutions

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

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

Listing Information as of Jan 23 2020

Exchange	Listing Date	Trading Currency	Ticker	CUSIP	ISIN
NYSE ARCA EXCHANGE	Sep 29 2011	USD	XSW	78464A599	US78464A5992

Exchange	NYSE ARCA EXCHANGE
Listing Date	Sep 29 2011
Trading Currency	USD
Ticker	XSW
CUSIP	78464A599
ISIN	US78464A5992

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
20.79%	165	5.32	26.73	$28,185.29 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.	20.79%
Number of Holdings	165
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.	5.32
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.	26.73
Weighted Average Market Cap	$28,185.29 M

Index Characteristics as of Jan 23 2020

Est. 3-5 Year EPS Growth	Number of Holdings	Price/Cash Flow	Price/Earnings	Price/Earnings Ratio FY1
20.79%	165	20.32	35.08	26.73

Est. 3-5 Year EPS Growth	20.79%
Number of Holdings	165
Price/Cash Flow	20.32
Price/Earnings	35.08
Price/Earnings Ratio FY1	26.73

Index Statistics as of Jan 23 2020

	Average Size		Size Range
Weighted Average Market Cap	Mean	Median	Largest	Smallest
$28,183.74 M	$27,984.46 M	$5,307.58 M	$1,272,740.50 M	$404.14 M

Weighted Average Market Cap	$28,183.74 M
Average Size
Mean	$27,984.46 M
Median	$5,307.58 M
Size Range
Largest	$1,272,740.50 M
Smallest	$404.14 M

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.	Index Dividend Yield Index Dividend Yield The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.
0.07%	0.11%	0.37%

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.	0.07%
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.	0.11%
Index Dividend Yield Index Dividend Yield The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.	0.37%

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)
$107.92	$107.95	$107.95	$107.48	1,659	-0.02%

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.	$107.92
Closing Price Closing Price Market Price of last reported trade on the exchange.	$107.95
Day High	$107.95
Day Low	$107.48
Exchange Volume (Shares) Exchange Volume (shares) Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.	1,659
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)	-0.02%

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
-$25,356.73

Net Cash Amount

-$25,356.73

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
$107.94	2.25M	$242.86 M

NAV NAV The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.	$107.94
Shares Outstanding	2.25M
Assets Under Management	$242.86 M

Most Recent NAV / NAV History

Fund Performance
View as

Fund Performance

Fund Inception Date: Sep 28 2011

Performance

Month End Quarter End

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Sep 28 2011
Fund Before Tax
NAV	Dec 31 2019	-0.97%	9.04%	35.54%	35.54%	23.48%	17.21%	-	19.74%
Market Value	Dec 31 2019	-0.99%	9.02%	36.16%	36.16%	23.46%	17.21%	-	19.74%
S&P Software & Services Select Industry Index	Dec 31 2019	-0.94%	9.12%	35.93%	35.93%	23.83%	17.49%	-	20.07%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	-0.99%	9.03%	35.47%	35.47%	23.37%	17.06%	-	19.37%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	-0.58%	5.35%	21.04%	21.04%	18.66%	13.92%	-	16.59%
S&P Software & Services Select Industry Index	Dec 31 2019	-0.94%	9.12%	35.93%	35.93%	23.83%	17.49%	-	20.07%

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Sep 28 2011
Fund Before Tax
NAV	Dec 31 2019	-0.97%	9.04%	35.54%	35.54%	23.48%	17.21%	-	19.74%
Market Value	Dec 31 2019	-0.99%	9.02%	36.16%	36.16%	23.46%	17.21%	-	19.74%
S&P Software & Services Select Industry Index	Dec 31 2019	-0.94%	9.12%	35.93%	35.93%	23.83%	17.49%	-	20.07%
Fund After Tax
Return after Taxes on Distributions	Dec 31 2019	-0.99%	9.03%	35.47%	35.47%	23.37%	17.06%	-	19.37%
Return after Taxes on Distributions and Sale of Fund Shares	Dec 31 2019	-0.58%	5.35%	21.04%	21.04%	18.66%	13.92%	-	16.59%
S&P Software & Services Select Industry Index	Dec 31 2019	-0.94%	9.12%	35.93%	35.93%	23.83%	17.49%	-	20.07%

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: 0.35%

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
Alteryx Inc. Class A	14,272	0.78%
Cerence Inc	82,521	0.77%
Zscaler Inc.	29,648	0.72%
GreenSky Inc. Class A	189,338	0.71%
CrowdStrike Holdings Inc. Class A	27,589	0.70%
Pluralsight Inc. Class A	85,098	0.70%
Avaya Holdings Corp.	118,439	0.70%
HubSpot Inc.	9,028	0.69%
Paycom Software Inc.	5,301	0.69%
BlackLine Inc.	27,362	0.68%

Download All Holdings: Daily

Index Top Holdings as of Jan 23 2020

Name	Weight
Alteryx Inc. Class A	0.78%
Cerence Inc	0.77%
Zscaler Inc.	0.72%
GreenSky Inc. Class A	0.71%
CrowdStrike Holdings Inc. Class A	0.70%
Pluralsight Inc. Class A	0.70%
Avaya Holdings Corp.	0.70%
HubSpot Inc.	0.69%
Paycom Software Inc.	0.69%
BlackLine Inc.	0.68%

Sub-Industry Allocation

Fund Sub-Industry Allocationas of Jan 23 2020

Index Sub-Industry Allocationas of Jan 23 2020

Fund Sub-Industry Allocation as of Jan 23 2020

Sector	Weight
Application Software	52.02%
Data Processing & Outsourced Services	19.54%
Systems Software	15.55%
IT Consulting & Other Services	9.93%
Interactive Home Entertainment	2.95%

Index Sub-Industry Allocation as of Jan 23 2020

Sector	Weight
Application Software	52.02%
Data Processing & Outsourced Services	19.54%
Systems Software	15.55%
IT Consulting & Other Services	9.93%
Interactive Home Entertainment	2.95%

Fund Documents

ETF Historical Distributions

Tax Documents

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

Select Your Sectors

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 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.

Unless otherwise noted all information contained herein is that of the SPDR S&P Software & Services 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.

The S&P Select Industry Index series is designed to measure the performance of narrow GICS (Global Industry Classification Standard) sub-industries. The S&P Software & Services Select Industry Index is an equal-weighted index that draws constituents from the software and services segment of the S&P TMI. Liquidity and market capitalization screens are applied to the index to ensure investability.

SPDR® S&P® Software & Services ETF XSW

Important Risk Disclosure