| Investment Objective: |
The SPDR S&P Homebuilders ETF (the "Fund") seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of S&P Homebuilders Select Industry Index derived from the homebuilding segment of a U.S. total market composite index. The Index represents the homebuilders 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 homebuilders segment of the S&P TMI comprises the Homebuilding sub-industry. The Index consists of the S&P TMI constituents belonging to the Homebuilding sub-industry that satisfy the following criteria (i) have a float-adjusted market capitalization greater than or equal to 500 million with a float-adjusted liquidity ratio greater than or equal to 90% or have a float- adjusted market capitalization greater than or equal to 400 million with a float-adjusted liquidity ratio greater than or equal to 150% and (ii) are U.S. based companies. To evaluate liquidity, the dollar value traded for initial public offerings or spin-offs that do not have 12 months of trading history is annualized. |
