UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21145
SPDR® INDEX SHARES FUNDS
(Exact name of registrant as specified in charter)
One Lincoln Street, Boston, Massachusetts 02111
(Address of principal executive offices) (zip code)
Christopher A. Madden, Esq.
State Street Bank and Trust Company
One Lincoln Street / CPH0326
Boston, MA 02111
State Street Bank and Trust Company
One Lincoln Street / CPH0326
Boston, MA 02111
(Name and address of agent for service)
Copy to:
W. John McGuire, Esq.
Bingham McCutchen LLP
2020 K Street, N.W.
Washington, DC 20006
Bingham McCutchen LLP
2020 K Street, N.W.
Washington, DC 20006
Registrant’s telephone number, including area code: (866) 787-2257
Date of fiscal year end: September 30
Date of reporting period: March 31, 2014
TABLE OF CONTENTS
Item 1: Report to Shareholders
SPDR® Index Shares Funds
Semi-Annual Report March 31, 2014
Semi-Annual Report March 31, 2014
Precise in a world that isn’t.®
TABLE OF CONTENTS
Fund Performance & Portfolio Summaries | ||
SPDR® STOXX® Europe 50 ETF (FEU) | 1 | |
SPDR EURO STOXX 50® ETF (FEZ) | 4 | |
SPDR S&P® Emerging Asia Pacific ETF (GMF) | 7 | |
SPDR S&P Small Cap Emerging Asia Pacific ETF (GMFS) | 10 | |
SPDR S&P Russia ETF (RBL) | 13 | |
SPDR S&P China ETF (GXC) | 16 | |
SPDR S&P Emerging Markets ETF (GMM) | 19 | |
SPDR S&P Emerging Markets Dividend ETF (EDIV) | 22 | |
SPDR S&P BRIC 40 ETF (BIK) | 25 | |
SPDR S&P Emerging Europe ETF (GUR) | 28 | |
SPDR S&P Emerging Latin America ETF (GML) | 31 | |
SPDR S&P Emerging Middle East & Africa ETF (GAF) | 34 | |
SPDR S&P World ex-US ETF (GWL) | 37 | |
SPDR S&P International Small Cap ETF (GWX) | 40 | |
SPDR Dow Jones International Real Estate ETF (RWX) | 43 | |
SPDR S&P Global Infrastructure ETF (GII) | 46 | |
SPDR S&P Global Natural Resources ETF (GNR) | 49 | |
SPDR MSCI ACWI ex-US ETF (CWI) | 52 | |
SPDR MSCI ACWI IMI ETF (ACIM) | 55 | |
SPDR MSCI EM 50 ETF (EMFT) | 58 | |
SPDR MSCI EM Beyond BRIC ETF (EMBB) | 61 | |
SPDR Russell/Nomura PRIMETM Japan ETF (JPP) | 62 | |
SPDR Russell/Nomura Small CapTM Japan ETF (JSC) | 65 | |
SPDR S&P Global Dividend ETF (WDIV) | 68 | |
SPDR S&P International Dividend ETF (DWX) | 71 | |
SPDR S&P International Mid Cap ETF (MDD) | 74 | |
SPDR S&P Emerging Markets Small Cap ETF (EWX) | 77 | |
SPDR Dow Jones Global Real Estate ETF (RWO) | 80 | |
SPDR S&P International Consumer Discretionary Sector ETF (IPD) | 83 | |
SPDR S&P International Consumer Staples Sector ETF (IPS) | 86 | |
SPDR S&P International Energy Sector ETF (IPW) | 89 | |
SPDR S&P International Financial Sector ETF (IPF) | 92 | |
SPDR S&P International Health Care Sector ETF (IRY) | 95 | |
SPDR S&P International Industrial Sector ETF (IPN) | 98 | |
SPDR S&P International Materials Sector ETF (IRV) | 101 | |
SPDR S&P International Technology Sector ETF (IPK) | 104 | |
SPDR S&P International Telecommunications Sector ETF (IST) | 107 | |
SPDR S&P International Utilities Sector ETF (IPU) | 110 |
Schedules of Investments | ||
SPDR STOXX Europe 50 ETF (FEU) | 113 | |
SPDR EURO STOXX 50 ETF (FEZ) | 114 | |
SPDR S&P Emerging Asia Pacific ETF (GMF) | 115 | |
SPDR S&P Small Cap Emerging Asia Pacific ETF (GMFS) | 119 | |
SPDR S&P Russia ETF (RBL) | 124 | |
SPDR S&P China ETF (GXC) | 125 | |
SPDR S&P Emerging Markets ETF (GMM) | 131 | |
SPDR S&P Emerging Markets Dividend ETF (EDIV) | 142 | |
SPDR S&P BRIC 40 ETF (BIK) | 144 | |
SPDR S&P Emerging Europe ETF (GUR) | 145 | |
SPDR S&P Emerging Latin America ETF (GML) | 147 | |
SPDR S&P Emerging Middle East & Africa ETF (GAF) | 150 | |
SPDR S&P World ex-US ETF (GWL) | 152 | |
SPDR S&P International Small Cap ETF (GWX) | 165 | |
SPDR Dow Jones International Real Estate ETF (RWX) | 185 | |
SPDR S&P Global Infrastructure ETF (GII) | 187 | |
SPDR S&P Global Natural Resources ETF (GNR) | 189 | |
SPDR MSCI ACWI ex-US ETF (CWI) | 191 | |
SPDR MSCI ACWI IMI ETF (ACIM) | 198 | |
SPDR MSCI EM 50 ETF (EMFT) | 206 | |
SPDR MSCI EM Beyond BRIC ETF (EMBB) | 207 | |
SPDR Russell/Nomura PRIME Japan ETF (JPP) | 211 | |
SPDR Russell/Nomura Small Cap Japan ETF (JSC) | 217 | |
SPDR S&P Global Dividend ETF (WDIV) | 223 | |
SPDR S&P International Dividend ETF (DWX) | 225 | |
SPDR S&P International Mid Cap ETF (MDD) | 227 | |
SPDR S&P Emerging Markets Small Cap ETF (EWX) | 234 | |
SPDR Dow Jones Global Real Estate ETF (RWO) | 243 | |
SPDR S&P International Consumer Discretionary Sector ETF (IPD) | 246 | |
SPDR S&P International Consumer Staples Sector ETF (IPS) | 248 | |
SPDR S&P International Energy Sector ETF (IPW) | 250 | |
SPDR S&P International Financial Sector ETF (IPF) | 252 | |
SPDR S&P International Health Care Sector ETF (IRY) | 254 | |
SPDR S&P International Industrial Sector ETF (IPN) | 256 | |
SPDR S&P International Materials Sector ETF (IRV) | 259 | |
SPDR S&P International Technology Sector ETF (IPK) | 262 | |
SPDR S&P International Telecommunications Sector ETF (IST) | 264 | |
SPDR S&P International Utilities Sector ETF (IPU) | 266 | |
Financial Statements | 268 | |
Financial Highlights | 300 | |
Notes to Financial Statements | 335 | |
Other Information | 354 |
SPDR STOXX Europe 50 ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR STOXX Europe 50 ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.29%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | STOXX EUROPE | NET ASSET | MARKET | STOXX EUROPE | |||||||||||||||||||
VALUE | VALUE | 50 INDEX | VALUE | VALUE | 50 INDEX | |||||||||||||||||||
SIX MONTHS | 8.22% | 8.29% | 8.32% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 19.77% | 19.62% | 19.85% | 19.77% | 19.62% | 19.85% | ||||||||||||||||||
THREE YEARS | 22.35% | 22.48% | 22.12% | 6.96% | 6.99% | 6.89% | ||||||||||||||||||
FIVE YEARS | 98.08% | 98.77% | 98.16% | 14.65% | 14.73% | 14.66% | ||||||||||||||||||
TEN YEARS | 69.45% | 69.09% | 70.22% | 5.42% | 5.39% | 5.46% | ||||||||||||||||||
1
SPDR STOXX Europe 50 ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
STOXX | STOXX | |||||||
50 Fund | 50 Index | |||||||
Mar-04 | 10000.00 | 10000.00 | ||||||
Jun-04 | 9864.00 | 10096.00 | ||||||
Sep-04 | 10292.00 | 10292.00 | ||||||
Dec-04 | 11738.00 | 11751.00 | ||||||
Mar-05 | 11675.00 | 11692.00 | ||||||
Jun-05 | 11665.00 | 11683.00 | ||||||
Sep-05 | 12516.00 | 12557.00 | ||||||
Dec-05 | 12606.00 | 12661.00 | ||||||
Mar-06 | 13630.00 | 13708.00 | ||||||
Jun-06 | 14058.00 | 14120.00 | ||||||
Sep-06 | 14693.00 | 14775.00 | ||||||
Dec-06 | 15977.00 | 16076.00 | ||||||
Mar-07 | 16288.00 | 16401.00 | ||||||
Jun-07 | 17830.00 | 17938.00 | ||||||
Sep-07 | 18252.00 | 18380.00 | ||||||
Dec-07 | 18155.00 | 18291.00 | ||||||
Mar-08 | 16258.00 | 16382.00 | ||||||
Jun-08 | 15865.00 | 15958.00 | ||||||
Sep-08 | 12910.00 | 12975.00 | ||||||
Dec-08 | 10174.00 | 10222.00 | ||||||
Mar-09 | 8554.00 | 8590.00 | ||||||
Jun-09 | 10632.00 | 10669.00 | ||||||
Sep-09 | 12999.00 | 13065.00 | ||||||
Dec-09 | 13499.00 | 13583.00 | ||||||
Mar-10 | 13030.00 | 13115.00 | ||||||
Jun-10 | 10778.00 | 10818.00 | ||||||
Sep-10 | 12672.00 | 12737.00 | ||||||
Dec-10 | 13021.00 | 13099.00 | ||||||
Mar-11 | 13853.00 | 13939.00 | ||||||
Jun-11 | 14294.00 | 14359.00 | ||||||
Sep-11 | 11231.00 | 11269.00 | ||||||
Dec-11 | 11974.00 | 12028.00 | ||||||
Mar-12 | 12867.00 | 12925.00 | ||||||
Jun-12 | 12111.00 | 12141.00 | ||||||
Sep-12 | 13059.00 | 13101.00 | ||||||
Dec-12 | 13749.00 | 13801.00 | ||||||
Mar-13 | 14152.00 | 14203.00 | ||||||
Jun-13 | 14041.00 | 14077.00 | ||||||
Sep-13 | 15661.00 | 15715.00 | ||||||
Dec-13 | 16825.00 | 16891.00 | ||||||
Mar-14 | 16945.00 | 17022.00 |
Past performance is not a guarantee of future results.
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.
2
SPDR STOXX Europe 50 ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | NESTLE SA | NOVARTIS AG | ROCHE HOLDING AG | HSBC HOLDINGS PLC | TOTAL SA | |||||
MARKET VALUE | $12,846,293 | 12,149,261 | 11,144,490 | 9,974,175 | 8,245,130 | |||||
% OF NET ASSETS | 5.6 | 5.3 | 4.9 | 4.3 | 3.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Pharmaceuticals | 20.5 | % | ||||
Banks | 14.1 | |||||
Oil, Gas & Consumable Fuels | 13.2 | |||||
Food Products | 8.4 | |||||
Metals & Mining | 4.3 | |||||
Insurance | 4.1 | |||||
Capital Markets | 3.9 | |||||
Beverages | 3.6 | |||||
Chemicals | 3.3 | |||||
Diversified Telecommunication Services | 2.6 | |||||
Industrial Conglomerates | 2.6 | |||||
Electrical Equipment | 2.6 | |||||
Tobacco | 2.4 | |||||
Textiles, Apparel & Luxury Goods | 2.3 | |||||
Wireless Telecommunication Services | 2.2 | |||||
Automobiles | 2.1 | |||||
Software | 1.8 | |||||
Diversified Financial Services | 1.3 | |||||
Household Products | 1.2 | |||||
Multi-Utilities | 1.2 | |||||
Communications Equipment | 0.9 | |||||
Food & Staples Retailing | 0.9 | |||||
Short Term Investments | 2.9 | |||||
Other Assets & Liabilities | (2.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
3
SPDR EURO STOXX 50 ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR EURO STOXX 50 ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.29%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | EURO STOXX | NET ASSET | MARKET | EURO STOXX | |||||||||||||||||||
VALUE | VALUE | 50 INDEX | VALUE | VALUE | 50 INDEX | |||||||||||||||||||
SIX MONTHS | 11.98% | 11.80% | 12.00% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 33.63% | 33.43% | 33.19% | 33.63% | 33.43% | 33.19% | ||||||||||||||||||
THREE YEARS | 18.55% | 18.01% | 16.86% | 5.84% | 5.68% | 5.33% | ||||||||||||||||||
FIVE YEARS | 91.26% | 91.14% | 87.71% | 13.85% | 13.83% | 13.42% | ||||||||||||||||||
TEN YEARS | 77.02% | 76.65% | 72.35% | 5.88% | 5.86% | 5.59% | ||||||||||||||||||
4
SPDR EURO STOXX 50 ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
streetTRACKS Dow | streetTRACKS Dow | |||||||
Jones EURO | Jones EURO | |||||||
STOXX | STOXX | |||||||
50 Fund | 50 Index | |||||||
Mar-04 | 10000.00 | 10000.00 | ||||||
Jun-04 | 10167.00 | 10146.00 | ||||||
Sep-04 | 10102.00 | 10076.00 | ||||||
Dec-04 | 11978.00 | 11954.00 | ||||||
Mar-05 | 11882.00 | 11865.00 | ||||||
Jun-05 | 11742.00 | 11714.00 | ||||||
Sep-05 | 12609.00 | 12602.00 | ||||||
Dec-05 | 12896.00 | 12895.00 | ||||||
Mar-06 | 14265.00 | 14277.00 | ||||||
Jun-06 | 14559.00 | 14534.00 | ||||||
Sep-06 | 15445.00 | 15428.00 | ||||||
Dec-06 | 17029.00 | 17017.00 | ||||||
Mar-07 | 17477.00 | 17462.00 | ||||||
Jun-07 | 19452.00 | 19390.00 | ||||||
Sep-07 | 20041.00 | 19975.00 | ||||||
Dec-07 | 20745.00 | 20677.00 | ||||||
Mar-08 | 18557.00 | 18513.00 | ||||||
Jun-08 | 17542.00 | 17427.00 | ||||||
Sep-08 | 14229.00 | 14126.00 | ||||||
Dec-08 | 11415.00 | 11324.00 | ||||||
Mar-09 | 9255.00 | 9181.00 | ||||||
Jun-09 | 11664.00 | 11541.00 | ||||||
Sep-09 | 14563.00 | 14426.00 | ||||||
Dec-09 | 14820.00 | 14686.00 | ||||||
Mar-10 | 13839.00 | 13719.00 | ||||||
Jun-10 | 11304.00 | 11147.00 | ||||||
Sep-10 | 13474.00 | 13300.00 | ||||||
Dec-10 | 13519.00 | 13346.00 | ||||||
Mar-11 | 14932.00 | 14748.00 | ||||||
Jun-11 | 15331.00 | 15089.00 | ||||||
Sep-11 | 10930.00 | 10734.00 | ||||||
Dec-11 | 11292.00 | 11093.00 | ||||||
Mar-12 | 12436.00 | 12216.00 | ||||||
Jun-12 | 11182.00 | 10923.00 | ||||||
Sep-12 | 12342.00 | 12054.00 | ||||||
Dec-12 | 13615.00 | 13300.00 | ||||||
Mar-13 | 13249.00 | 12940.00 | ||||||
Jun-13 | 13617.00 | 13251.00 | ||||||
Sep-13 | 15810.00 | 15389.00 | ||||||
Dec-13 | 17352.00 | 16890.00 | ||||||
Mar-14 | 17702.00 | 17235.00 |
Past performance is not a guarantee of future results.
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.
5
SPDR EURO STOXX 50 ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | TOTAL SA | SANOFI | SIEMENS AG | BAYER AG | BANCO SANTANDER SA | |||||
MARKET VALUE | $302,006,156 | 243,461,404 | 216,954,896 | 216,739,077 | 213,645,475 | |||||
% OF NET ASSETS | 5.8 | 4.6 | 4.1 | 4.1 | 4.1 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 15.1 | % | ||||
Oil, Gas & Consumable Fuels | 9.0 | |||||
Pharmaceuticals | 8.8 | |||||
Insurance | 7.2 | |||||
Diversified Telecommunication Services | 6.5 | |||||
Automobiles | 6.3 | |||||
Industrial Conglomerates | 5.4 | |||||
Chemicals | 5.3 | |||||
Food Products | 3.9 | |||||
Multi-Utilities | 3.7 | |||||
Beverages | 3.0 | |||||
Software | 2.8 | |||||
Electric Utilities | 2.8 | |||||
Diversified Financial Services | 2.0 | |||||
Electrical Equipment | 1.9 | |||||
Textiles, Apparel & Luxury Goods | 1.8 | |||||
Capital Markets | 1.7 | |||||
Personal Products | 1.6 | % | ||||
Aerospace & Defense | 1.5 | |||||
Construction & Engineering | 1.5 | |||||
Semiconductors & Semiconductor Equipment | 1.3 | |||||
Air Freight & Logistics | 1.3 | |||||
Specialty Retail | 1.2 | |||||
Building Products | 1.0 | |||||
Real Estate Investment Trusts | 0.9 | |||||
Food & Staples Retailing | 0.9 | |||||
Health Care Equipment & Supplies | 0.8 | |||||
Construction Materials | 0.8 | |||||
Metals & Mining | 0.0 | *** | ||||
Short Term Investments | 0.2 | |||||
Other Assets & Liabilities | (0.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
6
SPDR S&P Emerging Asia Pacific ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/20/07, 3/23/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Asia Pacific ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P ASIA PACIFIC | NET ASSET | MARKET | S&P ASIA PACIFIC | |||||||||||||||||||
VALUE | VALUE | EMERGING BMI INDEX | VALUE | VALUE | EMERGING BMI INDEX | |||||||||||||||||||
SIX MONTHS | 3.31% | 3.75% | 5.01% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 3.47% | 3.50% | 4.94% | 3.47% | 3.50% | 4.94% | ||||||||||||||||||
THREE YEARS | −1.98% | −2.06% | 2.06% | −0.66% | −0.69% | 0.68% | ||||||||||||||||||
FIVE YEARS | 98.97% | 97.97% | 113.88% | 14.75% | 14.64% | 16.42% | ||||||||||||||||||
SINCE INCEPTION (1) | 49.44% | 49.64% | 55.91% | 5.88% | 5.90% | 6.52% | ||||||||||||||||||
(1) | For the period March 20, 2007 to March 31, 2014. |
7
SPDR S&P Emerging Asia Pacific ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Asia | ||||||||
SPDR S&P | Pacific Emerging | |||||||
Emerging Asia | BMI Index | |||||||
Pacific ETF | ||||||||
10000.00 | 10000.00 | |||||||
3/20/2007 | 10190.00 | 10276.00 | ||||||
4/30/2007 | 10650.00 | 10718.00 | ||||||
5/31/2007 | 11261.00 | 11400.00 | ||||||
6/30/2007 | 12073.00 | 12233.00 | ||||||
7/31/2007 | 12790.00 | 13117.00 | ||||||
8/31/2007 | 12853.00 | 13016.00 | ||||||
9/30/2007 | 14502.00 | 14702.00 | ||||||
10/31/2007 | 16435.00 | 16401.00 | ||||||
11/30/2007 | 14889.00 | 14924.00 | ||||||
12/31/2007 | 14763.00 | 14986.00 | ||||||
1/31/2008 | 12700.00 | 12746.00 | ||||||
2/29/2008 | 13579.00 | 13726.00 | ||||||
3/31/2008 | 12734.00 | 12793.00 | ||||||
4/30/2008 | 13877.00 | 13876.00 | ||||||
5/31/2008 | 13335.00 | 13255.00 | ||||||
6/30/2008 | 11729.00 | 11504.00 | ||||||
7/31/2008 | 11657.00 | 11460.00 | ||||||
8/31/2008 | 11116.00 | 10950.00 | ||||||
9/30/2008 | 9143.00 | 8881.00 | ||||||
10/31/2008 | 7040.00 | 6805.00 | ||||||
11/30/2008 | 6707.00 | 6476.00 | ||||||
12/31/2008 | 7319.00 | 7064.00 | ||||||
1/31/2009 | 6758.00 | 6564.00 | ||||||
2/28/2009 | 6557.00 | 6426.00 | ||||||
3/31/2009 | 7511.00 | 7288.00 | ||||||
4/30/2009 | 8766.00 | 8471.00 | ||||||
5/31/2009 | 10370.00 | 10206.00 | ||||||
6/30/2009 | 10235.00 | 10126.00 | ||||||
7/31/2009 | 11317.00 | 11266.00 | ||||||
8/31/2009 | 10925.00 | 10865.00 | ||||||
9/30/2009 | 11809.00 | 11784.00 | ||||||
10/31/2009 | 11715.00 | 11773.00 | ||||||
11/30/2009 | 12224.00 | 12303.00 | ||||||
12/31/2009 | 12737.00 | 12817.00 | ||||||
1/31/2010 | 11919.00 | 12028.00 | ||||||
2/28/2010 | 12032.00 | 12059.00 | ||||||
3/31/2010 | 12887.00 | 12967.00 | ||||||
4/30/2010 | 13121.00 | 13194.00 | ||||||
5/31/2010 | 12049.00 | 12222.00 | ||||||
6/30/2010 | 12260.00 | 12407.00 | ||||||
7/31/2010 | 13010.00 | 13120.00 | ||||||
8/31/2010 | 12790.00 | 13024.00 | ||||||
9/30/2010 | 14271.00 | 14498.00 | ||||||
10/31/2010 | 14748.00 | 14961.00 | ||||||
11/30/2010 | 14357.00 | 14619.00 | ||||||
12/31/2010 | 15175.00 | 15352.00 | ||||||
1/31/2011 | 14861.00 | 14945.00 | ||||||
2/28/2011 | 14408.00 | 14479.00 | ||||||
3/31/2011 | 15245.00 | 15278.00 | ||||||
4/30/2011 | 15790.00 | 15794.00 | ||||||
5/31/2011 | 15546.00 | 15564.00 | ||||||
6/30/2011 | 15147.00 | 15190.00 | ||||||
7/31/2011 | 15275.00 | 15355.00 | ||||||
8/31/2011 | 13839.00 | 13857.00 | ||||||
9/30/2011 | 12052.00 | 12022.00 | ||||||
10/31/2011 | 13373.00 | 13328.00 | ||||||
11/30/2011 | 12227.00 | 12090.00 | ||||||
12/31/2011 | 12323.00 | 12183.00 | ||||||
1/31/2012 | 13681.00 | 13537.00 | ||||||
2/29/2012 | 14463.00 | 14451.00 | ||||||
3/31/2012 | 13849.00 | 13909.00 | ||||||
4/30/2012 | 13712.00 | 13783.00 | ||||||
5/31/2012 | 12431.00 | 12611.00 | ||||||
6/30/2012 | 12763.00 | 12875.00 | ||||||
7/31/2012 | 12906.00 | 13005.00 | ||||||
8/31/2012 | 12860.00 | 12984.00 | ||||||
9/30/2012 | 13789.00 | 13930.00 | ||||||
10/31/2012 | 13754.00 | 13919.00 | ||||||
11/30/2012 | 14106.00 | 14289.00 | ||||||
12/31/2012 | 14490.00 | 14763.00 | ||||||
1/31/2013 | 14966.00 | 15268.00 | ||||||
2/28/2013 | 14679.00 | 15039.00 | ||||||
3/31/2013 | 14443.00 | 14858.00 | ||||||
4/30/2013 | 14836.00 | 15256.00 | ||||||
5/31/2013 | 14773.00 | 15232.00 | ||||||
6/30/2013 | 13924.00 | 14324.00 | ||||||
7/31/2013 | 14164.00 | 14469.00 | ||||||
8/31/2013 | 13785.00 | 14082.00 | ||||||
9/30/2013 | 14466.00 | 14847.00 | ||||||
10/31/2013 | 15075.00 | 15572.00 | ||||||
11/30/2013 | 14985.00 | 15521.00 | ||||||
12/31/2013 | 14894.00 | 15459.00 | ||||||
1/31/2014 | 14205.00 | 14805.00 | ||||||
2/28/2014 | 14689.00 | 15361.00 | ||||||
3/31/2014 | 14944.00 | 15591.00 |
Past performance is not a guarantee of future results.
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.
8
SPDR S&P Emerging Asia Pacific ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TAIWAN SEMICONDUCTOR | ||||||||||
MANUFACTURING CO., | CHINA CONSTRUCTION | |||||||||
DESCRIPTION | LTD. ADR | TENCENT HOLDINGS, LTD. | BANK CORP. | CHINA MOBILE, LTD. | BAIDU, INC. ADR | |||||
MARKET VALUE | $15,904,849 | 11,322,263 | 10,254,526 | 9,419,645 | 8,826,002 | |||||
% OF NET ASSETS | 3.8 | 2.7 | 2.5 | 2.3 | 2.1 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 16.9 | % | ||||
Oil, Gas & Consumable Fuels | 9.3 | |||||
Semiconductors & Semiconductor Equipment | 8.0 | |||||
Internet Software & Services | 5.8 | |||||
Wireless Telecommunication Services | 5.6 | |||||
Electronic Equipment, Instruments & Components | 4.0 | |||||
Technology Hardware, Storage & Peripherals | 3.7 | |||||
Real Estate Management & Development | 3.3 | |||||
Insurance | 3.2 | |||||
Food Products | 3.2 | |||||
Automobiles | 3.1 | |||||
IT Services | 3.0 | |||||
Construction Materials | 2.7 | |||||
Chemicals | 2.4 | |||||
Metals & Mining | 2.0 | |||||
Diversified Telecommunication Services | 1.9 | |||||
Independent Power & Renewable Electricity Producers | 1.9 | |||||
Construction & Engineering | 1.6 | |||||
Transportation Infrastructure | 1.6 | |||||
Industrial Conglomerates | 1.4 | |||||
Hotels, Restaurants & Leisure | 1.1 | |||||
Diversified Financial Services | 1.0 | |||||
Pharmaceuticals | 1.0 | |||||
Electric Utilities | 0.9 | |||||
Thrifts & Mortgage Finance | 0.9 | |||||
Internet & Catalog Retail | 0.8 | |||||
Beverages | 0.8 | |||||
Tobacco | 0.7 | |||||
Household Products | 0.7 | |||||
Food & Staples Retailing | 0.7 | |||||
Capital Markets | 0.6 | |||||
Health Care Providers & Services | 0.6 | |||||
Gas Utilities | 0.5 | |||||
Media | 0.5 | |||||
Building Products | 0.5 | |||||
Marine | 0.5 | |||||
Electrical Equipment | 0.5 | |||||
Airlines | 0.4 | |||||
Energy Equipment & Services | 0.4 | |||||
Textiles, Apparel & Luxury Goods | 0.4 | |||||
Specialty Retail | 0.2 | |||||
Personal Products | 0.2 | |||||
Household Durables | 0.2 | |||||
Machinery | 0.2 | |||||
Health Care Equipment & Supplies | 0.1 | |||||
Diversified Consumer Services | 0.1 | |||||
Auto Components | 0.1 | |||||
Multiline Retail | 0.1 | |||||
Consumer Finance | 0.1 | |||||
Commercial Services & Supplies | 0.0 | *** | ||||
Trading Companies & Distributors | 0.0 | *** | ||||
Short Term Investments | 6.0 | |||||
Other Assets & Liabilities | (5.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for ProMOS Technologies, Inc., which was Level 3 and part of the Semiconductors & Semiconductor Equipment Industry, representing 0.00% of net assets. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
9
SPDR S&P Small Cap Emerging Asia Pacific ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/11/2012, 1/12/2012, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Small Cap Emerging Asia Pacific ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.65%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P ASIA PACIFIC | S&P ASIA PACIFIC | |||||||||||||||||||||||
NET ASSET | MARKET | EMERGING UNDER USD2 | NET ASSET | MARKET | EMERGING UNDER USD2 | |||||||||||||||||||
VALUE | VALUE | BILLION INDEX | VALUE | VALUE | BILLION INDEX | |||||||||||||||||||
SIX MONTHS | 7.20% | 9.06% | 8.94% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.98% | 7.42% | 8.37% | 6.98% | 7.42% | 8.37% | ||||||||||||||||||
SINCE INCEPTION (1) | 28.97% | 30.24% | 35.88% | 12.15% | 12.64% | 14.83% | ||||||||||||||||||
(1) | For the period January 11, 2012 to March 31, 2014. |
10
SPDR S&P Small Cap Emerging Asia Pacific ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Asia | ||||||||
SPDR S&P | Pacific Emerging | |||||||
Small Cap | Under USD | |||||||
Emerging Asia | 2 Billion | |||||||
Pacific ETF | Index | |||||||
1/11/2012 | 10000.00 | 10000.00 | ||||||
1/31/2012 | 10728.00 | 10811.00 | ||||||
2/29/2012 | 11708.00 | 11905.00 | ||||||
3/31/2012 | 11245.00 | 11461.00 | ||||||
4/30/2012 | 11006.00 | 11227.00 | ||||||
5/31/2012 | 10292.00 | 10480.00 | ||||||
6/30/2012 | 10363.00 | 10578.00 | ||||||
7/31/2012 | 10334.00 | 10514.00 | ||||||
8/31/2012 | 10491.00 | 10671.00 | ||||||
9/30/2012 | 11108.00 | 11364.00 | ||||||
10/31/2012 | 10787.00 | 11053.00 | ||||||
11/30/2012 | 11179.00 | 11497.00 | ||||||
12/31/2012 | 11604.00 | 12027.00 | ||||||
1/31/2013 | 12097.00 | 12481.00 | ||||||
2/28/2013 | 12104.00 | 12551.00 | ||||||
3/31/2013 | 12056.00 | 12539.00 | ||||||
4/30/2013 | 12413.00 | 12874.00 | ||||||
5/31/2013 | 12716.00 | 13265.00 | ||||||
6/30/2013 | 11687.00 | 12157.00 | ||||||
7/31/2013 | 11710.00 | 12157.00 | ||||||
8/31/2013 | 11441.00 | 11844.00 | ||||||
9/30/2013 | 12031.00 | 12473.00 | ||||||
10/31/2013 | 12578.00 | 13064.00 | ||||||
11/30/2013 | 12413.00 | 12887.00 | ||||||
12/31/2013 | 12516.00 | 13026.00 | ||||||
1/31/2014 | 12126.00 | 12670.00 | ||||||
2/28/2014 | 12664.00 | 13312.00 | ||||||
3/31/2014 | 12897.00 | 13588.00 |
Past performance is not a guarantee of future results.
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.
11
SPDR S&P Small Cap Emerging Asia Pacific ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TATA MOTORS, LTD. | JSW STEEL, | |||||||||
DESCRIPTION | D&L INDUSTRIES, INC. | CLASS A | IRPC PCL, NVDR | IDFC, LTD. | LTD. | |||||
MARKET VALUE | $41,045 | 40,255 | 39,469 | 38,133 | 37,037 | |||||
% OF NET ASSETS | 1.0 | 1.0 | 0.9 | 0.9 | 0.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Real Estate Management & Development | 7.9 | % | ||||
Semiconductors & Semiconductor Equipment | 7.8 | |||||
Chemicals | 6.5 | |||||
Electronic Equipment, Instruments & Components | 6.4 | |||||
Food Products | 5.2 | |||||
Machinery | 3.7 | |||||
Metals & Mining | 3.7 | |||||
Banks | 3.4 | |||||
Technology Hardware, Storage & Peripherals | 3.1 | |||||
Textiles, Apparel & Luxury Goods | 3.0 | |||||
Pharmaceuticals | 2.9 | |||||
Construction & Engineering | 2.9 | |||||
Oil, Gas & Consumable Fuels | 2.5 | |||||
Auto Components | 2.3 | |||||
Electrical Equipment | 2.2 | |||||
Hotels, Restaurants & Leisure | 2.2 | |||||
Automobiles | 2.1 | |||||
Multiline Retail | 2.0 | |||||
Diversified Financial Services | 1.9 | |||||
Marine | 1.9 | |||||
Media | 1.8 | |||||
Health Care Providers & Services | 1.7 | |||||
IT Services | 1.6 | |||||
Household Durables | 1.5 | |||||
Capital Markets | 1.4 | |||||
Communications Equipment | 1.4 | |||||
Specialty Retail | 1.3 | |||||
Consumer Finance | 1.3 | |||||
Health Care Equipment & Supplies | 1.2 | |||||
Software | 0.9 | |||||
Beverages | 0.9 | |||||
Transportation Infrastructure | 0.9 | |||||
Construction Materials | 0.7 | |||||
Air Freight & Logistics | 0.6 | |||||
Leisure Products | 0.6 | |||||
Containers & Packaging | 0.6 | |||||
Building Products | 0.5 | |||||
Food & Staples Retailing | 0.5 | |||||
Independent Power & Renewable Electricity Producers | 0.5 | |||||
Paper & Forest Products | 0.5 | |||||
Industrial Conglomerates | 0.4 | |||||
Airlines | 0.4 | |||||
Water Utilities | 0.4 | |||||
Thrifts & Mortgage Finance | 0.4 | |||||
Trading Companies & Distributors | 0.3 | |||||
Professional Services | 0.3 | |||||
Distributors | 0.3 | |||||
Diversified Telecommunication Services | 0.3 | |||||
Internet & Catalog Retail | 0.3 | |||||
Commercial Services & Supplies | 0.2 | |||||
Energy Equipment & Services | 0.2 | |||||
Internet Software & Services | 0.2 | |||||
Personal Products | 0.2 | |||||
Insurance | 0.2 | |||||
Electric Utilities | 0.2 | |||||
Biotechnology | 0.2 | |||||
Gas Utilities | 0.2 | |||||
Household Products | 0.1 | |||||
Diversified Consumer Services | 0.1 | |||||
Short Term Investments | 5.7 | |||||
Other Assets & Liabilities | (4.6 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for China Metal Recycling Holdings, Ltd., which was Level 3 and part of the Metals & Mining Industry and Boshiwa International Holding, Ltd., which was Level 3 and part of the Specialty Retail Industry, each representing 0.00% of net assets. (Note 2) |
12
SPDR S&P Russia ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value the, total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/10/10, 3/11/10, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Russia ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
��
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P RUSSIA CAPPED | NET ASSET | MARKET | S&P RUSSIA CAPPED | |||||||||||||||||||
VALUE | VALUE | BMI INDEX | VALUE | VALUE | BMI INDEX | |||||||||||||||||||
SIX MONTHS | −13.26% | −13.23% | −13.53% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | −11.69% | −11.84% | −10.31% | −11.69% | −11.84% | −10.31% | ||||||||||||||||||
THREE YEARS | −36.53% | −36.28% | −33.07% | −14.06% | −13.95% | −12.52% | ||||||||||||||||||
SINCE INCEPTION (1) | −14.73% | −14.75% | −9.53% | −3.85% | −3.86% | −2.44% | ||||||||||||||||||
(1) | For the period March 10, 2010 to March 31, 2014. |
13
SPDR S&P Russia ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Russia | ||||||||
SPDR S&P | Capped BMI | |||||||
Russia ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
3/10/2010 | 10283.00 | 10398.00 | ||||||
4/30/2010 | 10230.00 | 10346.00 | ||||||
5/31/2010 | 9093.00 | 9212.00 | ||||||
6/30/2010 | 8784.00 | 8878.00 | ||||||
7/31/2010 | 9760.00 | 9811.00 | ||||||
8/31/2010 | 9475.00 | 9472.00 | ||||||
9/30/2010 | 10072.00 | 10246.00 | ||||||
10/31/2010 | 10646.00 | 10744.00 | ||||||
11/30/2010 | 10660.00 | 10784.00 | ||||||
12/31/2010 | 11960.00 | 11996.00 | ||||||
1/31/2011 | 12061.00 | 12381.00 | ||||||
2/28/2011 | 12812.00 | 13004.00 | ||||||
3/31/2011 | 13435.00 | 13513.00 | ||||||
4/30/2011 | 13327.00 | 13427.00 | ||||||
5/31/2011 | 12421.00 | 12672.00 | ||||||
6/30/2011 | 12379.00 | 12659.00 | ||||||
7/31/2011 | 12566.00 | 13019.00 | ||||||
8/31/2011 | 11056.00 | 11251.00 | ||||||
9/30/2011 | 8704.00 | 8921.00 | ||||||
10/31/2011 | 10150.00 | 10413.00 | ||||||
11/30/2011 | 10136.00 | 10298.00 | ||||||
12/31/2011 | 8991.00 | 9270.00 | ||||||
1/31/2012 | 10268.00 | 10599.00 | ||||||
2/29/2012 | 11256.00 | 11607.00 | ||||||
3/31/2012 | 10594.00 | 10972.00 | ||||||
4/30/2012 | 10349.00 | 10699.00 | ||||||
5/31/2012 | 8232.00 | 8597.00 | ||||||
6/30/2012 | 8931.00 | 9370.00 | ||||||
7/31/2012 | 9077.00 | 9560.00 | ||||||
8/31/2012 | 9334.00 | 9710.00 | ||||||
9/30/2012 | 9871.00 | 10280.00 | ||||||
10/31/2012 | 9491.00 | 9908.00 | ||||||
11/30/2012 | 9414.00 | 9873.00 | ||||||
12/31/2012 | 10117.00 | 10471.00 | ||||||
1/31/2013 | 10618.00 | 11124.00 | ||||||
2/28/2013 | 10085.00 | 10535.00 | ||||||
3/31/2013 | 9657.00 | 10087.00 | ||||||
4/30/2013 | 9370.00 | 9886.00 | ||||||
5/31/2013 | 9108.00 | 9666.00 | ||||||
6/30/2013 | 8764.00 | 9217.00 | ||||||
7/31/2013 | 9072.00 | 9595.00 | ||||||
8/31/2013 | 9032.00 | 9543.00 | ||||||
9/30/2013 | 9831.00 | 10463.00 | ||||||
10/31/2013 | 10291.00 | 10903.00 | ||||||
11/30/2013 | 9841.00 | 10458.00 | ||||||
12/31/2013 | 10142.00 | 10710.00 | ||||||
1/31/2014 | 8995.00 | 9620.00 | ||||||
2/28/2014 | 8826.00 | 9422.00 | ||||||
3/31/2014 | 8527.00 | 9047.00 |
Past performance is not a guarantee of future results.
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.
14
SPDR S&P Russia ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
SBERBANK OF | MAGNIT OJSC | MMC NORILSK | ||||||||
DESCRIPTION | GAZPROM OAO ADR | LUKOIL OAO ADR | RUSSIA ADR | GDR | NICKEL OJSC ADR | |||||
MARKET VALUE | $3,694,260 | 1,836,313 | 1,264,629 | 1,041,858 | 1,006,631 | |||||
% OF NET ASSETS | 17.6 | 8.7 | 6.0 | 5.0 | 4.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 48.2 | % | ||||
Banks | 12.3 | |||||
Wireless Telecommunication Services | 8.9 | |||||
Metals & Mining | 8.6 | |||||
Food & Staples Retailing | 6.2 | |||||
Internet Software & Services | 3.6 | |||||
Chemicals | 3.6 | |||||
Diversified Telecommunication Services | 1.9 | |||||
Electric Utilities | 1.4 | |||||
Energy Equipment & Services | 1.2 | |||||
Real Estate Management & Development | 1.0 | |||||
Household Durables | 0.7 | |||||
Road & Rail | 0.6 | |||||
Pharmaceuticals | 0.5 | |||||
Media | 0.3 | |||||
Transportation Infrastructure | 0.3 | |||||
Short Term Investments | 0.8 | |||||
Other Assets & Liabilities | (0.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
15
SPDR S&P China ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/20/07, 3/23/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P China ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | NET ASSET | MARKET | |||||||||||||||||||||
VALUE | VALUE | S&P CHINA BMI INDEX | VALUE | VALUE | S&P CHINA BMI INDEX | |||||||||||||||||||
SIX MONTHS | −1.67% | −1.15% | −0.92% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.47% | 6.73% | 7.40% | 6.47% | 6.73% | 7.40% | ||||||||||||||||||
THREE YEARS | −2.70% | −3.16% | −3.07% | −0.91% | −1.06% | −1.03% | ||||||||||||||||||
FIVE YEARS | 76.55% | 76.56% | 81.40% | 12.04% | 12.04% | 12.65% | ||||||||||||||||||
SINCE INCEPTION (1) | 55.92% | 56.38% | 58.64% | 6.52% | 6.56% | 6.78% | ||||||||||||||||||
(1) | For the period March 20, 2007 to March 31, 2014. |
16
SPDR S&P China ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P China | ||||||||
SPDR S&P | BMI Index | |||||||
China ETF | ||||||||
10000.00 | 10000.00 | |||||||
3/20/2007 | 10354.00 | 10373.00 | ||||||
4/30/2007 | 10718.00 | 10820.00 | ||||||
5/31/2007 | 11549.00 | 11742.00 | ||||||
6/30/2007 | 12837.00 | 12985.00 | ||||||
7/31/2007 | 14139.00 | 14345.00 | ||||||
8/31/2007 | 15072.00 | 15260.00 | ||||||
9/30/2007 | 18062.00 | 18288.00 | ||||||
10/31/2007 | 21099.00 | 21241.00 | ||||||
11/30/2007 | 18484.00 | 18548.00 | ||||||
12/31/2007 | 17665.00 | 17839.00 | ||||||
1/31/2008 | 13857.00 | 14020.00 | ||||||
2/29/2008 | 15214.00 | 15336.00 | ||||||
3/31/2008 | 13298.00 | 13441.00 | ||||||
4/30/2008 | 15517.00 | 15470.00 | ||||||
5/31/2008 | 14889.00 | 14883.00 | ||||||
6/30/2008 | 13088.00 | 13030.00 | ||||||
7/31/2008 | 13344.00 | 13279.00 | ||||||
8/31/2008 | 12440.00 | 12240.00 | ||||||
9/30/2008 | 9888.00 | 9751.00 | ||||||
10/31/2008 | 7646.00 | 7479.00 | ||||||
11/30/2008 | 7839.00 | 7687.00 | ||||||
12/31/2008 | 8712.00 | 8523.00 | ||||||
1/31/2009 | 7945.00 | 7836.00 | ||||||
2/28/2009 | 7688.00 | 7623.00 | ||||||
3/31/2009 | 8831.00 | 8746.00 | ||||||
4/30/2009 | 9920.00 | 9833.00 | ||||||
5/31/2009 | 11667.00 | 11626.00 | ||||||
6/30/2009 | 12021.00 | 12075.00 | ||||||
7/31/2009 | 13450.00 | 13438.00 | ||||||
8/31/2009 | 12510.00 | 12481.00 | ||||||
9/30/2009 | 13157.00 | 13092.00 | ||||||
10/31/2009 | 13899.00 | 13803.00 | ||||||
11/30/2009 | 14316.00 | 14308.00 | ||||||
12/31/2009 | 14410.00 | 14458.00 | ||||||
1/31/2010 | 13151.00 | 13231.00 | ||||||
2/28/2010 | 13580.00 | 13662.00 | ||||||
3/31/2010 | 14289.00 | 14409.00 | ||||||
4/30/2010 | 14297.00 | 14417.00 | ||||||
5/31/2010 | 13465.00 | 13573.00 | ||||||
6/30/2010 | 13607.00 | 13681.00 | ||||||
7/31/2010 | 14310.00 | 14456.00 | ||||||
8/31/2010 | 13890.00 | 14082.00 | ||||||
9/30/2010 | 15245.00 | 15490.00 | ||||||
10/31/2010 | 15894.00 | 16218.00 | ||||||
11/30/2010 | 15500.00 | 15905.00 | ||||||
12/31/2010 | 15375.00 | 15787.00 | ||||||
1/31/2011 | 15383.00 | 15760.00 | ||||||
2/28/2011 | 15154.00 | 15524.00 | ||||||
3/31/2011 | 16022.00 | 16367.00 | ||||||
4/30/2011 | 16404.00 | 16739.00 | ||||||
5/31/2011 | 16295.00 | 16558.00 | ||||||
6/30/2011 | 15732.00 | 15917.00 | ||||||
7/31/2011 | 15713.00 | 15882.00 | ||||||
8/31/2011 | 14280.00 | 14342.00 | ||||||
9/30/2011 | 11746.00 | 11711.00 | ||||||
10/31/2011 | 13669.00 | 13665.00 | ||||||
11/30/2011 | 12551.00 | 12511.00 | ||||||
12/31/2011 | 12728.00 | 12641.00 | ||||||
1/31/2012 | 14115.00 | 14011.00 | ||||||
2/29/2012 | 15014.00 | 15011.00 | ||||||
3/31/2012 | 14079.00 | 14060.00 | ||||||
4/30/2012 | 14404.00 | 14396.00 | ||||||
5/31/2012 | 12899.00 | 12916.00 | ||||||
6/30/2012 | 13115.00 | 13082.00 | ||||||
7/31/2012 | 13226.00 | 13095.00 | ||||||
8/31/2012 | 12822.00 | 12769.00 | ||||||
9/30/2012 | 13644.00 | 13556.00 | ||||||
10/31/2012 | 14325.00 | 14246.00 | ||||||
11/30/2012 | 14487.00 | 14454.00 | ||||||
12/31/2012 | 15201.00 | 15241.00 | ||||||
1/31/2013 | 15877.00 | 16001.00 | ||||||
2/28/2013 | 15224.00 | 15406.00 | ||||||
3/31/2013 | 14645.00 | 14772.00 | ||||||
4/30/2013 | 14809.00 | 14962.00 | ||||||
5/31/2013 | 14885.00 | 15105.00 | ||||||
6/30/2013 | 13860.00 | 14024.00 | ||||||
7/31/2013 | 14556.00 | 14716.00 | ||||||
8/31/2013 | 14962.00 | 15115.00 | ||||||
9/30/2013 | 15857.00 | 16011.00 | ||||||
10/31/2013 | 16256.00 | 16422.00 | ||||||
11/30/2013 | 16981.00 | 17153.00 | ||||||
12/31/2013 | 16628.00 | 16821.00 | ||||||
1/31/2014 | 15592.00 | 15817.00 | ||||||
2/28/2014 | 16079.00 | 16322.00 | ||||||
3/31/2014 | 15592.00 | 15864.00 |
Past performance is not a guarantee of future results.
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.
17
SPDR S&P China ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TENCENT | CHINA CONSTRUCTION | INDUSTRIAL & COMMERCIAL | CHINA | |||||||
DESCRIPTION | HOLDINGS, LTD. | BANK CORP. | BANK OF CHINA | MOBILE, LTD. | BAIDU, INC. ADR | |||||
MARKET VALUE | $59,491,576 | 47,345,503 | 41,348,008 | 39,641,524 | 34,279,557 | |||||
% OF NET ASSETS | 7.7 | 6.1 | 5.3 | 5.1 | 4.4 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 19.0 | % | ||||
Internet Software & Services | 15.3 | |||||
Oil, Gas & Consumable Fuels | 10.2 | |||||
Insurance | 5.8 | |||||
Wireless Telecommunication Services | 5.1 | |||||
Real Estate Management & Development | 4.9 | |||||
Food Products | 3.6 | |||||
Automobiles | 2.4 | |||||
Transportation Infrastructure | 1.8 | |||||
Independent Power & Renewable Electricity Producers | 1.8 | |||||
Diversified Telecommunication Services | 1.7 | |||||
Construction & Engineering | 1.7 | |||||
Machinery | 1.5 | |||||
Pharmaceuticals | 1.5 | |||||
Internet & Catalog Retail | 1.4 | |||||
Metals & Mining | 1.4 | |||||
Construction Materials | 1.4 | |||||
Electronic Equipment, Instruments & Components | 1.2 | |||||
Industrial Conglomerates | 1.2 | |||||
Semiconductors & Semiconductor Equipment | 1.1 | |||||
Capital Markets | 1.0 | |||||
Personal Products | 1.0 | |||||
Technology Hardware, Storage & Peripherals | 1.0 | |||||
Specialty Retail | 0.9 | |||||
Software | 0.9 | |||||
Airlines | 0.8 | |||||
Gas Utilities | 0.8 | |||||
Water Utilities | 0.7 | |||||
Food & Staples Retailing | 0.7 | |||||
Textiles, Apparel & Luxury Goods | 0.6 | �� | ||||
Health Care Equipment & Supplies | 0.6 | |||||
Diversified Consumer Services | 0.6 | |||||
Chemicals | 0.6 | |||||
Energy Equipment & Services | 0.6 | |||||
Health Care Providers & Services | 0.5 | |||||
Household Durables | 0.5 | |||||
Beverages | 0.5 | |||||
Electrical Equipment | 0.5 | |||||
Hotels, Restaurants & Leisure | 0.4 | |||||
Marine | 0.4 | |||||
Paper & Forest Products | 0.3 | |||||
Auto Components | 0.3 | |||||
Communications Equipment | 0.3 | |||||
Multiline Retail | 0.3 | |||||
Commercial Services & Supplies | 0.3 | |||||
IT Services | 0.2 | |||||
Household Products | 0.2 | |||||
Road & Rail | 0.1 | |||||
Media | 0.1 | |||||
Aerospace & Defense | 0.1 | |||||
Diversified Financial Services | 0.1 | |||||
Air Freight & Logistics | 0.1 | |||||
Short Term Investments | 14.3 | |||||
Other Assets & Liabilities | (14.3 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for China Milk Products Group, Ltd., which was Level 2 and part of the Food Products Industry, and China Metal Recycling Holdings, Ltd., which was Level 3 and part of the Metals & Mining Industry, both representing 0.00% of net assets. (Note 2) |
18
SPDR S&P Emerging Markets ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/20/07, 3/23/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Markets ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P EMERGING BMI | NET ASSET | MARKET | S&P EMERGING BMI | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | 1.37% | 1.30% | 1.84% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | −0.98% | −1.10% | −1.14% | −0.98% | −1.10% | −1.14% | ||||||||||||||||||
THREE YEARS | −8.87% | −8.96% | −7.75% | −3.05% | −3.08% | −2.65% | ||||||||||||||||||
FIVE YEARS | 92.48% | 91.78% | 102.23% | 13.99% | 13.91% | 15.13% | ||||||||||||||||||
SINCE INCEPTION (1) | 34.29% | 34.05% | 36.94% | 4.28% | 4.26% | 4.57% | ||||||||||||||||||
(1) | For the period March 20, 2007 to March 31, 2014. |
19
SPDR S&P Emerging Markets ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | ||||||||
Emerging Markets | S&P Emerging | |||||||
ETF | BMI Index | |||||||
10000.00 | 10000.00 | |||||||
3/20/2007 | 10338.00 | 10389.00 | ||||||
4/30/2007 | 10818.00 | 10863.00 | ||||||
5/31/2007 | 11292.00 | 11357.00 | ||||||
6/30/2007 | 11823.00 | 11927.00 | ||||||
7/31/2007 | 12305.00 | 12467.00 | ||||||
8/31/2007 | 12155.00 | 12226.00 | ||||||
9/30/2007 | 13520.00 | 13574.00 | ||||||
10/31/2007 | 15145.00 | 15077.00 | ||||||
11/30/2007 | 14084.00 | 14145.00 | ||||||
12/31/2007 | 14134.00 | 14293.00 | ||||||
1/31/2008 | 12447.00 | 12515.00 | ||||||
2/29/2008 | 13328.00 | 13473.00 | ||||||
3/31/2008 | 12706.00 | 12784.00 | ||||||
4/30/2008 | 13773.00 | 13742.00 | ||||||
5/31/2008 | 14123.00 | 14063.00 | ||||||
6/30/2008 | 12779.00 | 12674.00 | ||||||
7/31/2008 | 12301.00 | 12201.00 | ||||||
8/31/2008 | 11497.00 | 11336.00 | ||||||
9/30/2008 | 9494.00 | 9237.00 | ||||||
10/31/2008 | 6968.00 | 6706.00 | ||||||
11/30/2008 | 6536.00 | 6276.00 | ||||||
12/31/2008 | 6946.00 | 6651.00 | ||||||
1/31/2009 | 6403.00 | 6196.00 | ||||||
2/28/2009 | 6196.00 | 6003.00 | ||||||
3/31/2009 | 6976.00 | 6771.00 | ||||||
4/30/2009 | 8174.00 | 7888.00 | ||||||
5/31/2009 | 9622.00 | 9463.00 | ||||||
6/30/2009 | 9462.00 | 9346.00 | ||||||
7/31/2009 | 10421.00 | 10279.00 | ||||||
8/31/2009 | 10393.00 | 10276.00 | ||||||
9/30/2009 | 11208.00 | 11159.00 | ||||||
10/31/2009 | 11267.00 | 11256.00 | ||||||
11/30/2009 | 11859.00 | 11812.00 | ||||||
12/31/2009 | 12296.00 | 12280.00 | ||||||
1/31/2010 | 11531.00 | 11634.00 | ||||||
2/28/2010 | 11615.00 | 11688.00 | ||||||
3/31/2010 | 12523.00 | 12619.00 | ||||||
4/30/2010 | 12600.00 | 12744.00 | ||||||
5/31/2010 | 11477.00 | 11677.00 | ||||||
6/30/2010 | 11424.00 | 11588.00 | ||||||
7/31/2010 | 12415.00 | 12556.00 | ||||||
8/31/2010 | 12130.00 | 12383.00 | ||||||
9/30/2010 | 13478.00 | 13744.00 | ||||||
10/31/2010 | 13915.00 | 14204.00 | ||||||
11/30/2010 | 13588.00 | 13841.00 | ||||||
12/31/2010 | 14525.00 | 14742.00 | ||||||
1/31/2011 | 14011.00 | 14223.00 | ||||||
2/28/2011 | 14060.00 | 14164.00 | ||||||
3/31/2011 | 14734.00 | 14840.00 | ||||||
4/30/2011 | 15175.00 | 15274.00 | ||||||
5/31/2011 | 14729.00 | 14868.00 | ||||||
6/30/2011 | 14477.00 | 14619.00 | ||||||
7/31/2011 | 14414.00 | 14577.00 | ||||||
8/31/2011 | 13252.00 | 13331.00 | ||||||
9/30/2011 | 11314.00 | 11335.00 | ||||||
10/31/2011 | 12699.00 | 12741.00 | ||||||
11/30/2011 | 11946.00 | 11846.00 | ||||||
12/31/2011 | 11759.00 | 11690.00 | ||||||
1/31/2012 | 13079.00 | 13050.00 | ||||||
2/29/2012 | 13868.00 | 13921.00 | ||||||
3/31/2012 | 13420.00 | 13432.00 | ||||||
4/30/2012 | 13190.00 | 13226.00 | ||||||
5/31/2012 | 11662.00 | 11788.00 | ||||||
6/30/2012 | 12157.00 | 12234.00 | ||||||
7/31/2012 | 12333.00 | 12402.00 | ||||||
8/31/2012 | 12344.00 | 12419.00 | ||||||
9/30/2012 | 13077.00 | 13153.00 | ||||||
10/31/2012 | 12996.00 | 13103.00 | ||||||
11/30/2012 | 13110.00 | 13236.00 | ||||||
12/31/2012 | 13735.00 | 13894.00 | ||||||
1/31/2013 | 14027.00 | 14290.00 | ||||||
2/28/2013 | 13712.00 | 13994.00 | ||||||
3/31/2013 | 13562.00 | 13851.00 | ||||||
4/30/2013 | 13720.00 | 14045.00 | ||||||
5/31/2013 | 13409.00 | 13710.00 | ||||||
6/30/2013 | 12619.00 | 12840.00 | ||||||
7/31/2013 | 12785.00 | 12947.00 | ||||||
8/31/2013 | 12435.00 | 12599.00 | ||||||
9/30/2013 | 13248.00 | 13446.00 | ||||||
10/31/2013 | 13886.00 | 14093.00 | ||||||
11/30/2013 | 13605.00 | 13835.00 | ||||||
12/31/2013 | 13501.00 | 13718.00 | ||||||
1/31/2014 | 12602.00 | 12845.00 | ||||||
2/28/2014 | 13045.00 | 13291.00 | ||||||
3/31/2014 | 13429.00 | 13694.00 |
Past performance is not a guarantee of future results.
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.
20
SPDR S&P Emerging Markets ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TAIWAN SEMICONDUCTOR | ||||||||||
DESCRIPTION | TENCENT HOLDINGS, LTD. | MANUFACTURING CO., LTD. | CHINA MOBILE, LTD. | BAIDU, INC. ADR | GAZPROM OAO ADR | |||||
MARKET VALUE | $4,645,916 | 3,124,719 | 3,079,972 | 2,639,831 | 2,628,218 | |||||
% OF NET ASSETS | 2.4 | 1.6 | 1.6 | 1.3 | 1.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 16.8 | % | ||||
Oil, Gas & Consumable Fuels | 11.8 | |||||
Wireless Telecommunication Services | 6.2 | |||||
Metals & Mining | 5.1 | |||||
Internet Software & Services | 4.2 | |||||
Semiconductors & Semiconductor Equipment | 3.5 | |||||
Food Products | 2.9 | |||||
Real Estate Management & Development | 2.9 | |||||
Beverages | 2.9 | |||||
Insurance | 2.5 | |||||
Electronic Equipment, Instruments & Components | 2.3 | |||||
Automobiles | 2.1 | |||||
Chemicals | 2.0 | |||||
IT Services | 2.0 | |||||
Media | 1.9 | |||||
Diversified Financial Services | 1.8 | |||||
Diversified Telecommunication Services | 1.7 | |||||
Pharmaceuticals | 1.7 | |||||
Technology Hardware, Storage & Peripherals | 1.7 | |||||
Construction Materials | 1.6 | |||||
Construction & Engineering | 1.6 | |||||
Industrial Conglomerates | 1.6 | |||||
Food & Staples Retailing | 1.4 | |||||
Multiline Retail | 1.3 | |||||
Transportation Infrastructure | 1.2 | |||||
Electric Utilities | 1.2 | |||||
Independent Power & Renewable Electricity Producers | 1.1 | |||||
Specialty Retail | 0.9 | |||||
Household Durables | 0.8 | |||||
Hotels, Restaurants & Leisure | 0.8 | |||||
Thrifts & Mortgage Finance | 0.7 | |||||
Airlines | 0.6 | |||||
Capital Markets | 0.6 | |||||
Household Products | 0.6 | |||||
Personal Products | 0.5 | |||||
Paper & Forest Products | 0.5 | |||||
Machinery | 0.5 | |||||
Gas Utilities | 0.4 | |||||
Textiles, Apparel & Luxury Goods | 0.4 | |||||
Tobacco | 0.4 | |||||
Electrical Equipment | 0.4 | |||||
Leisure Products | 0.4 | |||||
Energy Equipment & Services | 0.4 | |||||
Health Care Providers & Services | 0.3 | |||||
Internet & Catalog Retail | 0.3 | |||||
Water Utilities | 0.3 | |||||
Marine | 0.2 | |||||
Trading Companies & Distributors | 0.2 | |||||
Air Freight & Logistics | 0.2 | |||||
Diversified Consumer Services | 0.2 | |||||
Aerospace & Defense | 0.2 | |||||
Consumer Finance | 0.1 | |||||
Health Care Equipment & Supplies | 0.1 | |||||
Building Products | 0.1 | |||||
Software | 0.1 | |||||
Distributors | 0.1 | |||||
Road & Rail | 0.1 | |||||
Communications Equipment | 0.1 | |||||
Auto Components | 0.1 | |||||
Real Estate Investment Trusts | 0.1 | |||||
Commercial Services & Supplies | 0.1 | |||||
Professional Services | 0.0 | *** | ||||
Biotechnology | 0.0 | *** | ||||
Containers & Packaging | 0.0 | *** | ||||
Short Term Investments | 10.8 | |||||
Other Assets & Liabilities | (9.6 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Corporacion GEO SAB de CV, which was Level 3 and part of the Household Durables Industry, Interbolsa SA/Colombia, which was Level 2 and part of the Capital Markets Industry, Chaoda Modern Agriculture Holdings, Ltd., which was Level 3 and part of the Food Products Industry, Urbi Desarrollos Urbanos SA de CV, which was Level 3 and part of the Household Durables Industry, ProMOS Technologies, Inc., which was Level 3 and part of the Semiconductors & Semiconductor Equipment Industry, and Desarrolladora Homex SAB de CV, which was Level 2 and part of the Household Durables Industry, each representing 0.00% of net assets. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
21
SPDR S&P Emerging Markets Dividend ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (2/23/11, 2/24/11, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Markets Dividend ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P EMERGING | S&P EMERGING | |||||||||||||||||||||||
NET ASSET | MARKET | MARKETS DIVIDEND | NET ASSET | MARKET | MARKETS DIVIDEND | |||||||||||||||||||
VALUE | VALUE | OPPORTUNITIES INDEX | VALUE | VALUE | OPPORTUNITIES INDEX | |||||||||||||||||||
SIX MONTHS | −4.75% | −5.08% | −4.29% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | −10.59% | −11.24% | −10.32% | −10.59% | −11.24% | −10.32% | ||||||||||||||||||
THREE YEARS | −15.32% | −16.36% | −11.62% | −5.39% | −5.78% | −4.03% | ||||||||||||||||||
SINCE INCEPTION (1) | −10.81% | −11.02% | −5.53% | −3.62% | −3.69% | −1.82% | ||||||||||||||||||
(1) | For the period February 23, 2011 to March 31, 2014. |
22
SPDR S&P Emerging Markets Dividend ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Emerging | |||||||
Emerging Markets | Markets Dividend | |||||||
Dividend ETF | Opportunities Index | |||||||
10000.00 | 10000.00 | |||||||
2/23/2011 | 9970.00 | 10055.00 | ||||||
3/31/2011 | 10532.00 | 10689.00 | ||||||
4/30/2011 | 11026.00 | 11236.00 | ||||||
5/31/2011 | 10889.00 | 11112.00 | ||||||
6/30/2011 | 11016.00 | 11253.00 | ||||||
7/31/2011 | 11032.00 | 11353.00 | ||||||
8/31/2011 | 10421.00 | 10745.00 | ||||||
9/30/2011 | 9127.00 | 9409.00 | ||||||
10/31/2011 | 10001.00 | 10352.00 | ||||||
11/30/2011 | 9710.00 | 10044.00 | ||||||
12/31/2011 | 9789.00 | 10162.00 | ||||||
1/31/2012 | 10543.00 | 10944.00 | ||||||
2/29/2012 | 11342.00 | 11808.00 | ||||||
3/31/2012 | 10635.00 | 11071.00 | ||||||
4/30/2012 | 10343.00 | 10767.00 | ||||||
5/31/2012 | 9115.00 | 9465.00 | ||||||
6/30/2012 | 9556.00 | 9944.00 | ||||||
7/31/2012 | 9298.00 | 9687.00 | ||||||
8/31/2012 | 9298.00 | 9678.00 | ||||||
9/30/2012 | 9634.00 | 10045.00 | ||||||
10/31/2012 | 9497.00 | 9917.00 | ||||||
11/30/2012 | 9641.00 | 10065.00 | ||||||
12/31/2012 | 10323.00 | 10771.00 | ||||||
1/31/2013 | 10374.00 | 10919.00 | ||||||
2/28/2013 | 10191.00 | 10726.00 | ||||||
3/31/2013 | 9976.00 | 10534.00 | ||||||
4/30/2013 | 10063.00 | 10622.00 | ||||||
5/31/2013 | 9607.00 | 10158.00 | ||||||
6/30/2013 | 8909.00 | 9399.00 | ||||||
7/31/2013 | 8834.00 | 9305.00 | ||||||
8/31/2013 | 8711.00 | 9178.00 | ||||||
9/30/2013 | 9363.00 | 9870.00 | ||||||
10/31/2013 | 9769.00 | 10307.00 | ||||||
11/30/2013 | 9410.00 | 9919.00 | ||||||
12/31/2013 | 9099.00 | 9595.00 | ||||||
1/31/2014 | 8295.00 | 8782.00 | ||||||
2/28/2014 | 8544.00 | 9043.00 | ||||||
3/31/2014 | 8919.00 | 9447.00 |
Past performance is not a guarantee of future results.
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.
23
SPDR S&P Emerging Markets Dividend ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
COMPANHIA ENERGETICA | TUPRAS-TURKIYE | KGHM POLSKA | ||||||||
DESCRIPTION | TPK HOLDING CO. LTD. | DE MINAS GERAIS ADR | PETROL RAFINERILERI AS | ECOPETROL SA, ADR | MIEDZ SA | |||||
MARKET VALUE | $14,195,797 | 12,841,548 | 12,666,254 | 11,442,370 | 10,857,598 | |||||
% OF NET ASSETS | 3.0 | 2.7 | 2.7 | 2.4 | 2.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 14.0 | % | ||||
Wireless Telecommunication Services | 13.3 | |||||
Metals & Mining | 9.4 | |||||
Electric Utilities | 9.2 | |||||
Oil, Gas & Consumable Fuels | 8.6 | |||||
Real Estate Management & Development | 6.9 | |||||
Technology Hardware, Storage & Peripherals | 5.7 | |||||
Electronic Equipment, Instruments & Components | 5.2 | |||||
Diversified Telecommunication Services | 3.9 | |||||
Insurance | 2.6 | |||||
Industrial Conglomerates | 2.5 | |||||
Independent Power & Renewable Electricity Producers | 2.1 | |||||
Specialty Retail | 1.9 | |||||
Software | 1.8 | |||||
Chemicals | 1.5 | |||||
Construction & Engineering | 1.5 | |||||
Transportation Infrastructure | 1.4 | |||||
Construction Materials | 1.4 | |||||
Semiconductors & Semiconductor Equipment | 1.3 | |||||
Household Durables | 1.2 | |||||
Automobiles | 0.8 | |||||
Textiles, Apparel & Luxury Goods | 0.6 | |||||
Media | 0.6 | |||||
Water Utilities | 0.3 | |||||
Real Estate Investment Trusts | 0.3 | |||||
Tobacco | 0.3 | |||||
Gas Utilities | 0.3 | |||||
Auto Components | 0.3 | |||||
Capital Markets | 0.2 | |||||
Machinery | 0.2 | |||||
Thrifts & Mortgage Finance | 0.2 | |||||
Short Term Investments | 18.4 | |||||
Other Assets & Liabilities | (17.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
24
SPDR S&P BRIC 40 ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/07, 6/22/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P BRIC 40 ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | NET ASSET | MARKET | |||||||||||||||||||||
VALUE | VALUE | S&P BRIC 40 INDEX | VALUE | VALUE | S&P BRIC 40 INDEX | |||||||||||||||||||
SIX MONTHS | −4.14% | −4.00% | −3.96% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | −1.47% | −1.30% | −0.93% | −1.47% | −1.30% | −0.93% | ||||||||||||||||||
THREE YEARS | −17.92% | −18.29% | −16.52% | −6.37% | −6.51% | −5.84% | ||||||||||||||||||
FIVE YEARS | 68.98% | 69.18% | 74.40% | 11.06% | 11.09% | 11.77% | ||||||||||||||||||
SINCE INCEPTION (1) | 6.78% | 6.87% | 10.64% | 0.97% | 0.98% | 1.50% | ||||||||||||||||||
(1) | For the period June 19, 2007 to March 31, 2014. |
25
SPDR S&P BRIC 40 ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | ||||||||
BRIC 40 | S&P BRIC | |||||||
ETF | 40 Index | |||||||
10000.00 | 10000.00 | |||||||
6/19/2007 | 9954.00 | 9955.00 | ||||||
7/31/2007 | 10544.00 | 10542.00 | ||||||
8/31/2007 | 10727.00 | 10732.00 | ||||||
9/30/2007 | 12538.00 | 12554.00 | ||||||
10/31/2007 | 14703.00 | 14711.00 | ||||||
11/30/2007 | 13469.00 | 13499.00 | ||||||
12/31/2007 | 13469.00 | 13504.00 | ||||||
1/31/2008 | 11350.00 | 11379.00 | ||||||
2/29/2008 | 12339.00 | 12375.00 | ||||||
3/31/2008 | 11530.00 | 11565.00 | ||||||
4/30/2008 | 13090.00 | 13139.00 | ||||||
5/31/2008 | 13661.00 | 13731.00 | ||||||
6/30/2008 | 12418.00 | 12473.00 | ||||||
7/31/2008 | 11671.00 | 11722.00 | ||||||
8/31/2008 | 10591.00 | 10639.00 | ||||||
9/30/2008 | 8464.00 | 8510.00 | ||||||
10/31/2008 | 6165.00 | 6173.00 | ||||||
11/30/2008 | 5882.00 | 5893.00 | ||||||
12/31/2008 | 6058.00 | 6073.00 | ||||||
1/31/2009 | 5624.00 | 5640.00 | ||||||
2/28/2009 | 5560.00 | 5576.00 | ||||||
3/31/2009 | 6316.00 | 6344.00 | ||||||
4/30/2009 | 7313.00 | 7350.00 | ||||||
5/31/2009 | 8821.00 | 8870.00 | ||||||
6/30/2009 | 8576.00 | 8625.00 | ||||||
7/31/2009 | 9280.00 | 9339.00 | ||||||
8/31/2009 | 9111.00 | 9173.00 | ||||||
9/30/2009 | 10001.00 | 10086.00 | ||||||
10/31/2009 | 10361.00 | 10454.00 | ||||||
11/30/2009 | 10852.00 | 10954.00 | ||||||
12/31/2009 | 10976.00 | 11073.00 | ||||||
1/31/2010 | 10065.00 | 10166.00 | ||||||
2/28/2010 | 10240.00 | 10344.00 | ||||||
3/31/2010 | 10967.00 | 11089.00 | ||||||
4/30/2010 | 10984.00 | 11110.00 | ||||||
5/31/2010 | 10157.00 | 10290.00 | ||||||
6/30/2010 | 10080.00 | 10206.00 | ||||||
7/31/2010 | 10892.00 | 11039.00 | ||||||
8/31/2010 | 10455.00 | 10600.00 | ||||||
9/30/2010 | 11399.00 | 11575.00 | ||||||
10/31/2010 | 11858.00 | 12050.00 | ||||||
11/30/2010 | 11562.00 | 11760.00 | ||||||
12/31/2010 | 12119.00 | 12341.00 | ||||||
1/31/2011 | 11959.00 | 12172.00 | ||||||
2/28/2011 | 12309.00 | 12534.00 | ||||||
3/31/2011 | 13005.00 | 13255.00 | ||||||
4/30/2011 | 13041.00 | 13294.00 | ||||||
5/31/2011 | 12637.00 | 12926.00 | ||||||
6/30/2011 | 12454.00 | 12749.00 | ||||||
7/31/2011 | 12256.00 | 12551.00 | ||||||
8/31/2011 | 11181.00 | 11427.00 | ||||||
9/30/2011 | 9405.00 | 9595.00 | ||||||
10/31/2011 | 10862.00 | 11096.00 | ||||||
11/30/2011 | 10215.00 | 10430.00 | ||||||
12/31/2011 | 9962.00 | 10175.00 | ||||||
1/31/2012 | 11285.00 | 11536.00 | ||||||
2/29/2012 | 11948.00 | 12217.00 | ||||||
3/31/2012 | 11238.00 | 11497.00 | ||||||
4/30/2012 | 11107.00 | 11372.00 | ||||||
5/31/2012 | 9521.00 | 9797.00 | ||||||
6/30/2012 | 9915.00 | 10213.00 | ||||||
7/31/2012 | 10140.00 | 10451.00 | ||||||
8/31/2012 | 10072.00 | 10334.00 | ||||||
9/30/2012 | 10613.00 | 10907.00 | ||||||
10/31/2012 | 10678.00 | 10979.00 | ||||||
11/30/2012 | 10637.00 | 10954.00 | ||||||
12/31/2012 | 11227.00 | 11558.00 | ||||||
1/31/2013 | 11706.00 | 12053.00 | ||||||
2/28/2013 | 11133.00 | 11466.00 | ||||||
3/31/2013 | 10837.00 | 11167.00 | ||||||
4/30/2013 | 10830.00 | 11188.00 | ||||||
5/31/2013 | 10558.00 | 10919.00 | ||||||
6/30/2013 | 9844.00 | 10158.00 | ||||||
7/31/2013 | 10300.00 | 10625.00 | ||||||
8/31/2013 | 10262.00 | 10604.00 | ||||||
9/30/2013 | 11139.00 | 11520.00 | ||||||
10/31/2013 | 11548.00 | 11948.00 | ||||||
11/30/2013 | 11522.00 | 11924.00 | ||||||
12/31/2013 | 11346.00 | 11741.00 | ||||||
1/31/2014 | 10365.00 | 10729.00 | ||||||
2/28/2014 | 10732.00 | 11113.00 | ||||||
3/31/2014 | 10678.00 | 11064.00 |
Past performance is not a guarantee of future results.
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.
26
SPDR S&P BRIC 40 ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
INDUSTRIAL & | ||||||||||
TENCENT | CHINA CONSTRUCTION | COMMERCIAL | ||||||||
DESCRIPTION | HOLDINGS, LTD. | BANK CORP. | BANK OF CHINA | CHINA MOBILE, LTD. | GAZPROM OAO ADR | |||||
MARKET VALUE | $13,096,196 | 10,408,852 | 9,118,691 | 8,663,281 | 8,278,463 | |||||
% OF NET ASSETS | 8.3 | 6.6 | 5.8 | 5.5 | 5.2 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 31.9 | % | ||||
Oil, Gas & Consumable Fuels | 25.9 | |||||
Internet Software & Services | 13.8 | |||||
Wireless Telecommunication Services | 6.5 | |||||
Insurance | 4.2 | |||||
Beverages | 3.8 | |||||
Metals & Mining | 3.2 | |||||
IT Services | 3.0 | |||||
Food Products | 2.7 | |||||
Food & Staples Retailing | 1.8 | |||||
Real Estate Management & Development | 1.1 | |||||
Chemicals | 0.9 | |||||
Personal Products | 0.9 | |||||
Diversified Telecommunication Services | 0.0 | *** | ||||
Short Term Investments | 7.0 | |||||
Other Assets & Liabilities | (6.7 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
27
SPDR S&P Emerging Europe ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/20/07, 3/23/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Europe ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P EUROPEAN | S&P EUROPEAN | |||||||||||||||||||||||
NET ASSET | MARKET | EMERGING CAPPED BMI | NET ASSET | MARKET | EMERGING CAPPED BMI | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | −7.73% | −8.15% | −8.90% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | −7.93% | −8.17% | −8.73% | −7.93% | −8.17% | −8.73% | ||||||||||||||||||
THREE YEARS | −26.75% | −27.08% | −25.58% | −9.86% | −9.99% | −9.38% | ||||||||||||||||||
FIVE YEARS | 79.91% | 79.82% | 97.66% | 12.46% | 12.45% | 14.60% | ||||||||||||||||||
SINCE INCEPTION (1) | −22.46% | −22.69% | −19.31% | −3.55% | −3.59% | −3.01% | ||||||||||||||||||
(1) | For the period March 20, 2007 to March 31, 2014. |
28
SPDR S&P Emerging Europe ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P European | |||||||
Emerging Europe | Emerging Capped | |||||||
ETF | BMI Index | |||||||
10000.00 | 10000.00 | |||||||
3/20/2007 | 10598.00 | 10577.00 | ||||||
4/30/2007 | 10796.00 | 10655.00 | ||||||
5/31/2007 | 10316.00 | 10385.00 | ||||||
6/30/2007 | 11059.00 | 11109.00 | ||||||
7/31/2007 | 11387.00 | 11588.00 | ||||||
8/31/2007 | 10877.00 | 11120.00 | ||||||
9/30/2007 | 11874.00 | 12055.00 | ||||||
10/31/2007 | 12861.00 | 13155.00 | ||||||
11/30/2007 | 12586.00 | 13063.00 | ||||||
12/31/2007 | 13046.00 | 13553.00 | ||||||
1/31/2008 | 10899.00 | 11377.00 | ||||||
2/29/2008 | 11418.00 | 12109.00 | ||||||
3/31/2008 | 11352.00 | 11803.00 | ||||||
4/30/2008 | 11696.00 | 12140.00 | ||||||
5/31/2008 | 13053.00 | 13562.00 | ||||||
6/30/2008 | 12153.00 | 12547.00 | ||||||
7/31/2008 | 11429.00 | 11601.00 | ||||||
8/31/2008 | 9822.00 | 10020.00 | ||||||
9/30/2008 | 7903.00 | 7900.00 | ||||||
10/31/2008 | 5424.00 | 5140.00 | ||||||
11/30/2008 | 4677.00 | 4420.00 | ||||||
12/31/2008 | 4541.00 | 4254.00 | ||||||
1/31/2009 | 3822.00 | 3611.00 | ||||||
2/28/2009 | 3723.00 | 3424.00 | ||||||
3/31/2009 | 4311.00 | 4082.00 | ||||||
4/30/2009 | 5250.00 | 5007.00 | ||||||
5/31/2009 | 6468.00 | 6160.00 | ||||||
6/30/2009 | 5946.00 | 5858.00 | ||||||
7/31/2009 | 6613.00 | 6386.00 | ||||||
8/31/2009 | 6963.00 | 6747.00 | ||||||
9/30/2009 | 7493.00 | 7429.00 | ||||||
10/31/2009 | 7749.00 | 7646.00 | ||||||
11/30/2009 | 7843.00 | 7757.00 | ||||||
12/31/2009 | 8289.00 | 8160.00 | ||||||
1/31/2010 | 8318.00 | 8358.00 | ||||||
2/28/2010 | 7795.00 | 7904.00 | ||||||
3/31/2010 | 8643.00 | 8830.00 | ||||||
4/30/2010 | 8668.00 | 8905.00 | ||||||
5/31/2010 | 7630.00 | 7834.00 | ||||||
6/30/2010 | 7346.00 | 7536.00 | ||||||
7/31/2010 | 8279.00 | 8492.00 | ||||||
8/31/2010 | 7989.00 | 8218.00 | ||||||
9/30/2010 | 8747.00 | 9004.00 | ||||||
10/31/2010 | 9187.00 | 9445.00 | ||||||
11/30/2010 | 8776.00 | 9045.00 | ||||||
12/31/2010 | 9497.00 | 9826.00 | ||||||
1/31/2011 | 9641.00 | 9971.00 | ||||||
2/28/2011 | 10042.00 | 10298.00 | ||||||
3/31/2011 | 10588.00 | 10841.00 | ||||||
4/30/2011 | 10974.00 | 11234.00 | ||||||
5/31/2011 | 10117.00 | 10462.00 | ||||||
6/30/2011 | 10070.00 | 10386.00 | ||||||
7/31/2011 | 10026.00 | 10403.00 | ||||||
8/31/2011 | 8779.00 | 8983.00 | ||||||
9/30/2011 | 7230.00 | 7396.00 | ||||||
10/31/2011 | 8135.00 | 8360.00 | ||||||
11/30/2011 | 7940.00 | 8069.00 | ||||||
12/31/2011 | 7129.00 | 7329.00 | ||||||
1/31/2012 | 8249.00 | 8432.00 | ||||||
2/29/2012 | 8939.00 | 9144.00 | ||||||
3/31/2012 | 8507.00 | 8770.00 | ||||||
4/30/2012 | 8278.00 | 8548.00 | ||||||
5/31/2012 | 6759.00 | 7016.00 | ||||||
6/30/2012 | 7506.00 | 7821.00 | ||||||
7/31/2012 | 7581.00 | 7945.00 | ||||||
8/31/2012 | 7921.00 | 8159.00 | ||||||
9/30/2012 | 8265.00 | 8568.00 | ||||||
10/31/2012 | 8204.00 | 8496.00 | ||||||
11/30/2012 | 8196.00 | 8534.00 | ||||||
12/31/2012 | 8795.00 | 9076.00 | ||||||
1/31/2013 | 9048.00 | 9428.00 | ||||||
2/28/2013 | 8623.00 | 9021.00 | ||||||
3/31/2013 | 8422.00 | 8841.00 | ||||||
4/30/2013 | 8351.00 | 8809.00 | ||||||
5/31/2013 | 8230.00 | 8667.00 | ||||||
6/30/2013 | 7698.00 | 8065.00 | ||||||
7/31/2013 | 7899.00 | 8294.00 | ||||||
8/31/2013 | 7689.00 | 8079.00 | ||||||
9/30/2013 | 8404.00 | 8858.00 | ||||||
10/31/2013 | 8883.00 | 9319.00 | ||||||
11/30/2013 | 8582.00 | 9041.00 | ||||||
12/31/2013 | 8402.00 | 8836.00 | ||||||
1/31/2014 | 7609.00 | 8002.00 | ||||||
2/28/2014 | 7734.00 | 8116.00 | ||||||
3/31/2014 | 7754.00 | 8069.00 |
Past performance is not a guarantee of future results.
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.
29
SPDR S&P Emerging Europe ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
MMC NORILSK | ||||||||||
DESCRIPTION | GAZPROM OAO ADR | LUKOIL OAO ADR | SBERBANK | NICKEL OJSC ADR | NOVATEK OAO GDR | |||||
MARKET VALUE | $8,859,543 | 5,684,455 | 4,305,517 | 2,940,384 | 2,569,380 | |||||
% OF NET ASSETS | 11.4 | 7.3 | 5.6 | 3.8 | 3.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 31.5 | % | ||||
Banks | 24.0 | |||||
Metals & Mining | 8.0 | |||||
Wireless Telecommunication Services | 5.4 | |||||
Food & Staples Retailing | 4.8 | |||||
Electric Utilities | 4.1 | |||||
Diversified Telecommunication Services | 3.8 | |||||
Chemicals | 2.0 | |||||
Industrial Conglomerates | 1.9 | |||||
Insurance | 1.8 | |||||
Airlines | 1.7 | |||||
Internet Software & Services | 1.7 | |||||
Household Durables | 1.4 | |||||
Pharmaceuticals | 1.1 | |||||
Beverages | 1.2 | |||||
Media | 0.9 | |||||
Distributors | 0.8 | |||||
Diversified Financial Services | 0.8 | |||||
Real Estate Management & Development | 0.7 | |||||
Real Estate Investment Trusts | 0.5 | |||||
Software | 0.4 | |||||
Textiles, Apparel & Luxury Goods | 0.4 | |||||
Energy Equipment & Services | 0.4 | |||||
Road & Rail | 0.2 | |||||
Building Products | 0.2 | |||||
Hotels, Restaurants & Leisure | 0.1 | |||||
Food Products | 0.1 | |||||
Short Term Investments | 2.5 | |||||
Other Assets & Liabilities | (2.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
30
SPDR S&P Emerging Latin America ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/20/07, 3/23/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Latin America ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P LATIN AMERICA | NET ASSET | MARKET | S&P LATIN AMERICA | |||||||||||||||||||
VALUE | VALUE | BMI INDEX | VALUE | VALUE | BMI INDEX | |||||||||||||||||||
SIX MONTHS | −3.26% | −3.56% | −2.82% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | −15.22% | −15.42% | −14.57% | −15.22% | −15.42% | −14.57% | ||||||||||||||||||
THREE YEARS | −25.94% | −26.22% | −22.96% | −9.53% | −9.64% | −8.33% | ||||||||||||||||||
FIVE YEARS | 71.04% | 70.64% | 80.20% | 11.33% | 11.28% | 12.50% | ||||||||||||||||||
SINCE INCEPTION (1) | 24.22% | 23.70% | 34.80% | 3.13% | 3.07% | 4.34% | ||||||||||||||||||
(1) | For the period March 20, 2007 to March 31, 2014. |
31
SPDR S&P Emerging Latin America ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Latin | |||||||
Emerging Latin | America BMI | |||||||
America ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
3/20/2007 | 10332.00 | 10407.00 | ||||||
4/30/2007 | 10965.00 | 11050.00 | ||||||
5/31/2007 | 12151.00 | 12210.00 | ||||||
6/30/2007 | 12422.00 | 12580.00 | ||||||
7/31/2007 | 12577.00 | 12803.00 | ||||||
8/31/2007 | 12196.00 | 12391.00 | ||||||
9/30/2007 | 13648.00 | 13850.00 | ||||||
10/31/2007 | 15185.00 | 15452.00 | ||||||
11/30/2007 | 14297.00 | 14592.00 | ||||||
12/31/2007 | 14332.00 | 14711.00 | ||||||
1/31/2008 | 13705.00 | 13749.00 | ||||||
2/29/2008 | 14802.00 | 14980.00 | ||||||
3/31/2008 | 14320.00 | 14446.00 | ||||||
4/30/2008 | 15688.00 | 15782.00 | ||||||
5/31/2008 | 16912.00 | 17185.00 | ||||||
6/30/2008 | 15540.00 | 15887.00 | ||||||
7/31/2008 | 14348.00 | 14705.00 | ||||||
8/31/2008 | 13239.00 | 13505.00 | ||||||
9/30/2008 | 10890.00 | 10880.00 | ||||||
10/31/2008 | 7325.00 | 7448.00 | ||||||
11/30/2008 | 6869.00 | 6967.00 | ||||||
12/31/2008 | 7098.00 | 7139.00 | ||||||
1/31/2009 | 7013.00 | 7151.00 | ||||||
2/28/2009 | 6614.00 | 6792.00 | ||||||
3/31/2009 | 7261.00 | 7481.00 | ||||||
4/30/2009 | 8523.00 | 8808.00 | ||||||
5/31/2009 | 10316.00 | 10658.00 | ||||||
6/30/2009 | 10137.00 | 10429.00 | ||||||
7/31/2009 | 11118.00 | 11401.00 | ||||||
8/31/2009 | 11373.00 | 11762.00 | ||||||
9/30/2009 | 12739.00 | 13092.00 | ||||||
10/31/2009 | 13016.00 | 13378.00 | ||||||
11/30/2009 | 14264.00 | 14493.00 | ||||||
12/31/2009 | 14562.00 | 14848.00 | ||||||
1/31/2010 | 13138.00 | 13590.00 | ||||||
2/28/2010 | 13747.00 | 14149.00 | ||||||
3/31/2010 | 14708.00 | 15084.00 | ||||||
4/30/2010 | 14653.00 | 15082.00 | ||||||
5/31/2010 | 13131.00 | 13808.00 | ||||||
6/30/2010 | 13019.00 | 13403.00 | ||||||
7/31/2010 | 14577.00 | 14978.00 | ||||||
8/31/2010 | 14185.00 | 14700.00 | ||||||
9/30/2010 | 15762.00 | 16248.00 | ||||||
10/31/2010 | 16245.00 | 16797.00 | ||||||
11/30/2010 | 15853.00 | 16402.00 | ||||||
12/31/2010 | 16860.00 | 17452.00 | ||||||
1/31/2011 | 16041.00 | 16647.00 | ||||||
2/28/2011 | 16246.00 | 16907.00 | ||||||
3/31/2011 | 16773.00 | 17499.00 | ||||||
4/30/2011 | 16955.00 | 17684.00 | ||||||
5/31/2011 | 16558.00 | 17221.00 | ||||||
6/30/2011 | 16413.00 | 17118.00 | ||||||
7/31/2011 | 15794.00 | 16548.00 | ||||||
8/31/2011 | 14883.00 | 15635.00 | ||||||
9/30/2011 | 12172.00 | 12899.00 | ||||||
10/31/2011 | 14262.00 | 15082.00 | ||||||
11/30/2011 | 13552.00 | 14174.00 | ||||||
12/31/2011 | 13324.00 | 13952.00 | ||||||
1/31/2012 | 14930.00 | 15672.00 | ||||||
2/29/2012 | 15680.00 | 16534.00 | ||||||
3/31/2012 | 15271.00 | 16064.00 | ||||||
4/30/2012 | 14731.00 | 15569.00 | ||||||
5/31/2012 | 12817.00 | 13575.00 | ||||||
6/30/2012 | 13385.00 | 14088.00 | ||||||
7/31/2012 | 13575.00 | 14319.00 | ||||||
8/31/2012 | 13424.00 | 14280.00 | ||||||
9/30/2012 | 13936.00 | 14831.00 | ||||||
10/31/2012 | 13865.00 | 14835.00 | ||||||
11/30/2012 | 13634.00 | 14622.00 | ||||||
12/31/2012 | 14558.00 | 15572.00 | ||||||
1/31/2013 | 15054.00 | 16192.00 | ||||||
2/28/2013 | 14652.00 | 15800.00 | ||||||
3/31/2013 | 14652.00 | 15780.00 | ||||||
4/30/2013 | 14568.00 | 15742.00 | ||||||
5/31/2013 | 13502.00 | 14684.00 | ||||||
6/30/2013 | 12323.00 | 13414.00 | ||||||
7/31/2013 | 12186.00 | 13244.00 | ||||||
8/31/2013 | 11816.00 | 12824.00 | ||||||
9/30/2013 | 12840.00 | 13872.00 | ||||||
10/31/2013 | 13348.00 | 14450.00 | ||||||
11/30/2013 | 12803.00 | 13812.00 | ||||||
12/31/2013 | 12607.00 | 13549.00 | ||||||
1/31/2014 | 11337.00 | 12259.00 | ||||||
2/28/2014 | 11525.00 | 12454.00 | ||||||
3/31/2014 | 12422.00 | 13480.00 |
Past performance is not a guarantee of future results.
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.
32
SPDR S&P Emerging Latin America ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
ITAU UNIBANCO | ||||||||||
HOLDING SA | BANCO BRADESCO | PETROLEO | ||||||||
AMERICA MOVIL | PREFERENCE | SA PREFERENCE | AMBEV | BRASILEIRO | ||||||
DESCRIPTION | SAB DE CV | SHARES ADR | SHARES ADR | SA ADR | SA ADR | |||||
MARKET VALUE | $3,091,223 | 2,668,693 | 2,116,130 | 2,058,528 | 2,040,527 | |||||
% OF NET ASSETS | 5.6 | 4.8 | 3.8 | 3.7 | 3.7 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 20.4 | % | ||||
Metals & Mining | 11.5 | |||||
Oil, Gas & Consumable Fuels | 9.6 | |||||
Wireless Telecommunication Services | 6.7 | |||||
Beverages | 6.7 | |||||
Food Products | 4.1 | |||||
Food & Staples Retailing | 3.9 | |||||
Electric Utilities | 3.5 | |||||
Multiline Retail | 3.0 | |||||
Construction Materials | 2.7 | |||||
Industrial Conglomerates | 2.4 | |||||
Diversified Financial Services | 2.4 | |||||
Media | 2.1 | |||||
Transportation Infrastructure | 1.8 | |||||
Independent Power & Renewable Electricity Producers | 1.7 | |||||
Paper & Forest Products | 1.5 | |||||
Diversified Telecommunication Services | 1.2 | |||||
IT Services | 1.2 | |||||
Real Estate Management & Development | 1.1 | |||||
Construction & Engineering | 1.0 | |||||
Household Products | 0.9 | |||||
Diversified Consumer Services | 0.9 | |||||
Personal Products | 0.8 | |||||
Airlines | 0.8 | |||||
Tobacco | 0.7 | |||||
Aerospace & Defense | 0.7 | |||||
Water Utilities | 0.7 | |||||
Chemicals | 0.6 | |||||
Insurance | 0.6 | |||||
Household Durables | 0.6 | |||||
Machinery | 0.5 | |||||
Real Estate Investment Trusts | 0.5 | |||||
Specialty Retail | 0.5 | |||||
Software | 0.4 | |||||
Containers & Packaging | 0.4 | |||||
Capital Markets | 0.3 | |||||
Road & Rail | 0.3 | |||||
Gas Utilities | 0.3 | |||||
Pharmaceuticals | 0.2 | |||||
Internet & Catalog Retail | 0.2 | |||||
Consumer Finance | 0.1 | |||||
Health Care Providers & Services | 0.1 | |||||
Health Care Equipment & Supplies | 0.1 | |||||
Technology Hardware, Storage & Peripherals | 0.1 | |||||
Hotels, Restaurants & Leisure | 0.0 | *** | ||||
Short Term Investments | 15.1 | |||||
Other Assets & Liabilities | (14.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Corporacion GEO SAB de CV and Urbi Desarrollos Urbanos SA de CV, which were both Level 3 and part of the Household Durables Industry, both representing 0.00% of net assets, and Desarrolladora Homex SAB de CV, which was Level 2 and part of the Household Durables Industry, representing 0.01% of net assets. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
33
SPDR S&P Emerging Middle East & Africa ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/20/07, 3/23/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Middle East & Africa ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P MID-EAST & | NET ASSET | MARKET | S&P MID-EAST & | |||||||||||||||||||
VALUE | VALUE | AFRICA BMI INDEX | VALUE | VALUE | AFRICA BMI INDEX | |||||||||||||||||||
SIX MONTHS | 6.99% | 6.51% | 7.74% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 8.44% | 7.62% | 9.36% | 8.44% | 7.62% | 9.36% | ||||||||||||||||||
THREE YEARS | 2.47% | 2.32% | 4.81% | 0.82% | 0.77% | 1.58% | ||||||||||||||||||
FIVE YEARS | 99.77% | 96.55% | 105.75% | 14.84% | 14.47% | 15.53% | ||||||||||||||||||
SINCE INCEPTION (1) | 45.77% | 44.74% | 55.81% | 5.51% | 5.40% | 6.51% | ||||||||||||||||||
(1) | For the period March 20, 2007 to March 31, 2014. |
34
SPDR S&P Emerging Middle East & Africa ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | ||||||||
Emerging Middle | S&P Mid-East | |||||||
East & | & Africa | |||||||
Africa ETF | BMI Index | |||||||
10000.00 | 10000.00 | |||||||
3/20/2007 | 10452.00 | 10469.00 | ||||||
4/30/2007 | 11246.00 | 11263.00 | ||||||
5/31/2007 | 11080.00 | 11158.00 | ||||||
6/30/2007 | 10891.00 | 11037.00 | ||||||
7/31/2007 | 10943.00 | 11092.00 | ||||||
8/31/2007 | 10878.00 | 10957.00 | ||||||
9/30/2007 | 11583.00 | 11653.00 | ||||||
10/31/2007 | 12810.00 | 12921.00 | ||||||
11/30/2007 | 12177.00 | 12474.00 | ||||||
12/31/2007 | 12042.00 | 12467.00 | ||||||
1/31/2008 | 10888.00 | 11424.00 | ||||||
2/29/2008 | 11521.00 | 12178.00 | ||||||
3/31/2008 | 10818.00 | 11523.00 | ||||||
4/30/2008 | 11773.00 | 12305.00 | ||||||
5/31/2008 | 12014.00 | 12508.00 | ||||||
6/30/2008 | 11245.00 | 11640.00 | ||||||
7/31/2008 | 11260.00 | 11555.00 | ||||||
8/31/2008 | 10780.00 | 11029.00 | ||||||
9/30/2008 | 9340.00 | 9663.00 | ||||||
10/31/2008 | 7178.00 | 7372.00 | ||||||
11/30/2008 | 6861.00 | 7078.00 | ||||||
12/31/2008 | 7611.00 | 7819.00 | ||||||
1/31/2009 | 6785.00 | 7020.00 | ||||||
2/28/2009 | 6634.00 | 6886.00 | ||||||
3/31/2009 | 7296.00 | 7573.00 | ||||||
4/30/2009 | 8083.00 | 8358.00 | ||||||
5/31/2009 | 9174.00 | 9472.00 | ||||||
6/30/2009 | 9372.00 | 9682.00 | ||||||
7/31/2009 | 10002.00 | 10345.00 | ||||||
8/31/2009 | 10368.00 | 10710.00 | ||||||
9/30/2009 | 10651.00 | 10998.00 | ||||||
10/31/2009 | 10669.00 | 11026.00 | ||||||
11/30/2009 | 11003.00 | 11403.00 | ||||||
12/31/2009 | 11582.00 | 11980.00 | ||||||
1/31/2010 | 11252.00 | 11683.00 | ||||||
2/28/2010 | 11259.00 | 11726.00 | ||||||
3/31/2010 | 12268.00 | 12778.00 | ||||||
4/30/2010 | 12279.00 | 12780.00 | ||||||
5/31/2010 | 11366.00 | 11696.00 | ||||||
6/30/2010 | 10851.00 | 11335.00 | ||||||
7/31/2010 | 11871.00 | 12322.00 | ||||||
8/31/2010 | 11698.00 | 12177.00 | ||||||
9/30/2010 | 13197.00 | 13757.00 | ||||||
10/31/2010 | 13452.00 | 14053.00 | ||||||
11/30/2010 | 13106.00 | 13702.00 | ||||||
12/31/2010 | 14836.00 | 15494.00 | ||||||
1/31/2011 | 13009.00 | 13649.00 | ||||||
2/28/2011 | 13704.00 | 14395.00 | ||||||
3/31/2011 | 14226.00 | 14865.00 | ||||||
4/30/2011 | 14827.00 | 15525.00 | ||||||
5/31/2011 | 14258.00 | 14943.00 | ||||||
6/30/2011 | 14018.00 | 14705.00 | ||||||
7/31/2011 | 13916.00 | 14611.00 | ||||||
8/31/2011 | 13651.00 | 14319.00 | ||||||
9/30/2011 | 11704.00 | 12268.00 | ||||||
10/31/2011 | 12640.00 | 13266.00 | ||||||
11/30/2011 | 12525.00 | 13137.00 | ||||||
12/31/2011 | 12262.00 | 12890.00 | ||||||
1/31/2012 | 13282.00 | 13976.00 | ||||||
2/29/2012 | 14267.00 | 15004.00 | ||||||
3/31/2012 | 13786.00 | 14509.00 | ||||||
4/30/2012 | 13866.00 | 14597.00 | ||||||
5/31/2012 | 12436.00 | 13085.00 | ||||||
6/30/2012 | 13059.00 | 13736.00 | ||||||
7/31/2012 | 13404.00 | 14085.00 | ||||||
8/31/2012 | 13379.00 | 14070.00 | ||||||
9/30/2012 | 13958.00 | 14678.00 | ||||||
10/31/2012 | 13600.00 | 14290.00 | ||||||
11/30/2012 | 13407.00 | 14095.00 | ||||||
12/31/2012 | 14626.00 | 15412.00 | ||||||
1/31/2013 | 13875.00 | 14655.00 | ||||||
2/28/2013 | 13626.00 | 14414.00 | ||||||
3/31/2013 | 13443.00 | 14247.00 | ||||||
4/30/2013 | 13478.00 | 14295.00 | ||||||
5/31/2013 | 12741.00 | 13499.00 | ||||||
6/30/2013 | 12528.00 | 13281.00 | ||||||
7/31/2013 | 12873.00 | 13643.00 | ||||||
8/31/2013 | 12672.00 | 13424.00 | ||||||
9/30/2013 | 13625.00 | 14462.00 | ||||||
10/31/2013 | 14343.00 | 15265.00 | ||||||
11/30/2013 | 13822.00 | 14736.00 | ||||||
12/31/2013 | 13948.00 | 14856.00 | ||||||
1/31/2014 | 12675.00 | 13547.00 | ||||||
2/28/2014 | 13790.00 | 14742.00 | ||||||
3/31/2014 | 14577.00 | 15581.00 |
Past performance is not a guarantee of future results.
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.
35
SPDR S&P Emerging Middle East & Africa ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | NASPERS, LTD. | MTN GROUP, LTD. | SASOL, LTD. | STANDARD BANK GROUP, LTD. | SANLAM, LTD. | |||||
MARKET VALUE | $8,102,737 | 5,670,343 | 5,083,646 | 3,101,625 | 1,856,944 | |||||
% OF NET ASSETS | 12.7 | 8.9 | 8.0 | 4.9 | 2.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Media | 12.7 | % | ||||
Banks | 10.9 | |||||
Wireless Telecommunication Services | 10.2 | |||||
Oil, Gas & Consumable Fuels | 8.6 | |||||
Metals & Mining | 8.4 | |||||
Diversified Financial Services | 6.6 | |||||
Insurance | 5.6 | |||||
Food & Staples Retailing | 3.4 | |||||
Specialty Retail | 3.1 | |||||
Food Products | 2.8 | |||||
Industrial Conglomerates | 2.7 | |||||
Real Estate Management & Development | 2.7 | |||||
Pharmaceuticals | 2.6 | |||||
Health Care Providers & Services | 2.4 | |||||
Household Durables | 2.1 | |||||
Capital Markets | 2.0 | |||||
Real Estate Investment Trusts | 1.7 | |||||
Multiline Retail | 1.5 | |||||
Paper & Forest Products | 1.1 | |||||
Chemicals | 1.1 | |||||
Construction & Engineering | 1.0 | |||||
Distributors | 1.0 | |||||
Diversified Telecommunication Services | 0.8 | |||||
Trading Companies & Distributors | 0.9 | |||||
Containers & Packaging | 0.7 | |||||
Hotels, Restaurants & Leisure | 0.5 | |||||
Marine | 0.5 | |||||
Construction Materials | 0.4 | |||||
Tobacco | 0.4 | |||||
Electronic Equipment, Instruments & Components | 0.3 | |||||
Electrical Equipment | 0.1 | |||||
IT Services | 0.1 | |||||
Energy Equipment & Services | 0.1 | |||||
Commercial Services & Supplies | 0.1 | |||||
Professional Services | 0.0 | *** | ||||
Textiles, Apparel & Luxury Goods | 0.0 | *** | ||||
Short Term Investments | 23.9 | |||||
Other Assets & Liabilities | (23.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
** | Amount shown represents less than 0.05% of net assets. |
36
SPDR S&P World ex-US ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (4/20/07, 4/26/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P World ex-US ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.34%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P DEVELOPED EX-US | NET ASSET | MARKET | S&P DEVELOPED EX-US | |||||||||||||||||||
VALUE | VALUE | BMI INDEX | VALUE | VALUE | BMI INDEX | |||||||||||||||||||
SIX MONTHS | 5.92% | 5.92% | 6.69% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 15.44% | 14.98% | 17.21% | 15.44% | 14.98% | 17.21% | ||||||||||||||||||
THREE YEARS | 19.26% | 18.38% | 21.83% | 6.05% | 5.79% | 6.80% | ||||||||||||||||||
FIVE YEARS | 108.45% | 107.21% | 122.23% | 15.82% | 15.69% | 17.32% | ||||||||||||||||||
SINCE INCEPTION (1) | 6.66% | 6.78% | 11.93% | 0.93% | 0.95% | 1.64% | ||||||||||||||||||
(1) | For the period April 20, 2007 to March 31, 2014. |
37
SPDR S&P World ex-US ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Developed | |||||||
World ex-US | Ex-U.S. BMI | |||||||
ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
4/20/2007 | 9982.00 | 9986.00 | ||||||
5/31/2007 | 10190.00 | 10234.00 | ||||||
6/30/2007 | 10233.00 | 10248.00 | ||||||
7/31/2007 | 10132.00 | 10164.00 | ||||||
8/31/2007 | 9936.00 | 9963.00 | ||||||
9/30/2007 | 10454.00 | 10497.00 | ||||||
10/31/2007 | 10900.00 | 10982.00 | ||||||
11/30/2007 | 10473.00 | 10501.00 | ||||||
12/31/2007 | 10237.00 | 10289.00 | ||||||
1/31/2008 | 9332.00 | 9333.00 | ||||||
2/29/2008 | 9495.00 | 9543.00 | ||||||
3/31/2008 | 9369.00 | 9407.00 | ||||||
4/30/2008 | 9865.00 | 9902.00 | ||||||
5/31/2008 | 10031.00 | 10070.00 | ||||||
6/30/2008 | 9228.00 | 9272.00 | ||||||
7/31/2008 | 8899.00 | 8935.00 | ||||||
8/31/2008 | 8520.00 | 8560.00 | ||||||
9/30/2008 | 7304.00 | 7314.00 | ||||||
10/31/2008 | 5847.00 | 5733.00 | ||||||
11/30/2008 | 5528.00 | 5410.00 | ||||||
12/31/2008 | 5853.00 | 5740.00 | ||||||
1/31/2009 | 5334.00 | 5230.00 | ||||||
2/28/2009 | 4776.00 | 4695.00 | ||||||
3/31/2009 | 5117.00 | 5036.00 | ||||||
4/30/2009 | 5781.00 | 5718.00 | ||||||
5/31/2009 | 6472.00 | 6453.00 | ||||||
6/30/2009 | 6414.00 | 6404.00 | ||||||
7/31/2009 | 7023.00 | 7009.00 | ||||||
8/31/2009 | 7322.00 | 7365.00 | ||||||
9/30/2009 | 7646.00 | 7706.00 | ||||||
10/31/2009 | 7490.00 | 7569.00 | ||||||
11/30/2009 | 7672.00 | 7748.00 | ||||||
12/31/2009 | 7804.00 | 7886.00 | ||||||
1/31/2010 | 7464.00 | 7546.00 | ||||||
2/28/2010 | 7438.00 | 7534.00 | ||||||
3/31/2010 | 7938.00 | 8038.00 | ||||||
4/30/2010 | 7879.00 | 7981.00 | ||||||
5/31/2010 | 7000.00 | 7096.00 | ||||||
6/30/2010 | 6906.00 | 7014.00 | ||||||
7/31/2010 | 7533.00 | 7656.00 | ||||||
8/31/2010 | 7287.00 | 7431.00 | ||||||
9/30/2010 | 8027.00 | 8170.00 | ||||||
10/31/2010 | 8286.00 | 8459.00 | ||||||
11/30/2010 | 7948.00 | 8130.00 | ||||||
12/31/2010 | 8619.00 | 8830.00 | ||||||
1/31/2011 | 8797.00 | 9006.00 | ||||||
2/28/2011 | 9072.00 | 9287.00 | ||||||
3/31/2011 | 8941.00 | 9188.00 | ||||||
4/30/2011 | 9424.00 | 9699.00 | ||||||
5/31/2011 | 9142.00 | 9430.00 | ||||||
6/30/2011 | 9013.00 | 9294.00 | ||||||
7/31/2011 | 8843.00 | 9171.00 | ||||||
8/31/2011 | 8097.00 | 8384.00 | ||||||
9/30/2011 | 7279.00 | 7504.00 | ||||||
10/31/2011 | 8002.00 | 8238.00 | ||||||
11/30/2011 | 7668.00 | 7849.00 | ||||||
12/31/2011 | 7564.00 | 7755.00 | ||||||
1/31/2012 | 8017.00 | 8220.00 | ||||||
2/29/2012 | 8472.00 | 8672.00 | ||||||
3/31/2012 | 8390.00 | 8611.00 | ||||||
4/30/2012 | 8276.00 | 8494.00 | ||||||
5/31/2012 | 7333.00 | 7538.00 | ||||||
6/30/2012 | 7776.00 | 7993.00 | ||||||
7/31/2012 | 7901.00 | 8094.00 | ||||||
8/31/2012 | 8111.00 | 8317.00 | ||||||
9/30/2012 | 8373.00 | 8609.00 | ||||||
10/31/2012 | 8412.00 | 8653.00 | ||||||
11/30/2012 | 8582.00 | 8819.00 | ||||||
12/31/2012 | 8844.00 | 9106.00 | ||||||
1/31/2013 | 9251.00 | 9518.00 | ||||||
2/28/2013 | 9173.00 | 9469.00 | ||||||
3/31/2013 | 9239.00 | 9549.00 | ||||||
4/30/2013 | 9615.00 | 9960.00 | ||||||
5/31/2013 | 9398.00 | 9751.00 | ||||||
6/30/2013 | 9028.00 | 9378.00 | ||||||
7/31/2013 | 9486.00 | 9874.00 | ||||||
8/31/2013 | 9400.00 | 9780.00 | ||||||
9/30/2013 | 10070.00 | 10490.00 | ||||||
10/31/2013 | 10366.00 | 10832.00 | ||||||
11/30/2013 | 10433.00 | 10896.00 | ||||||
12/31/2013 | 10566.00 | 11058.00 | ||||||
1/31/2014 | 10161.00 | 10653.00 | ||||||
2/28/2014 | 10689.00 | 11221.00 | ||||||
3/31/2014 | 10666.00 | 11193.00 |
Past performance is not a guarantee of future results.
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.
38
SPDR S&P World ex-US ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
SAMSUNG | ||||||||||
ELECTRONICS CO., | ||||||||||
DESCRIPTION | NESTLE SA | NOVARTIS AG | ROCHE HOLDING AG | HSBC HOLDINGS PLC | LTD. GDR | |||||
MARKET VALUE | $11,883,848 | 11,660,638 | 11,045,792 | 9,315,636 | 8,597,801 | |||||
% OF NET ASSETS | 1.3 | 1.3 | 1.2 | 1.0 | 1.0 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 12.7 | % | ||||
Pharmaceuticals | 7.4 | |||||
Oil, Gas & Consumable Fuels | 7.2 | |||||
Insurance | 4.8 | |||||
Metals & Mining | 4.2 | |||||
Automobiles | 3.5 | |||||
Chemicals | 3.3 | |||||
Food Products | 3.2 | |||||
Machinery | 2.5 | |||||
Diversified Telecommunication Services | 2.3 | |||||
Real Estate Management & Development | 2.1 | |||||
Food & Staples Retailing | 2.0 | |||||
Capital Markets | 2.0 | |||||
Beverages | 1.9 | |||||
Media | 1.9 | |||||
Semiconductors & Semiconductor Equipment | 1.9 | |||||
Real Estate Investment Trusts | 1.7 | |||||
Hotels, Restaurants & Leisure | 1.7 | |||||
Industrial Conglomerates | 1.7 | |||||
Wireless Telecommunication Services | 1.6 | |||||
Electric Utilities | 1.4 | |||||
Electrical Equipment | 1.4 | |||||
Textiles, Apparel & Luxury Goods | 1.4 | |||||
Trading Companies & Distributors | 1.4 | |||||
Electronic Equipment, Instruments & Components | 1.3 | |||||
Auto Components | 1.3 | |||||
Road & Rail | 1.3 | |||||
Multi-Utilities | 1.2 | |||||
Construction & Engineering | 1.2 | |||||
Tobacco | 1.1 | |||||
Diversified Financial Services | 1.1 | |||||
Software | 1.1 | |||||
Specialty Retail | 1.0 | |||||
Aerospace & Defense | 0.9 | |||||
Commercial Services & Supplies | 0.9 | |||||
Building Products | 0.8 | |||||
Household Durables | 0.8 | |||||
Health Care Equipment & Supplies | 0.8 | |||||
Technology Hardware, Storage & Peripherals | 0.7 | |||||
Energy Equipment & Services | 0.7 | |||||
Professional Services | 0.7 | |||||
Household Products | 0.6 | |||||
IT Services | 0.6 | |||||
Health Care Providers & Services | 0.5 | |||||
Construction Materials | 0.5 | |||||
Personal Products | 0.4 | |||||
Multiline Retail | 0.4 | |||||
Air Freight & Logistics | 0.4 | |||||
Marine | 0.4 | |||||
Gas Utilities | 0.4 | |||||
Biotechnology | 0.4 | |||||
Transportation Infrastructure | 0.4 | |||||
Communications Equipment | 0.3 | |||||
Internet Software & Services | 0.3 | |||||
Airlines | 0.3 | |||||
Containers & Packaging | 0.2 | |||||
Paper & Forest Products | 0.2 | |||||
Leisure Products | 0.2 | |||||
Independent Power & Renewable Electricity Producers | 0.2 | |||||
Internet & Catalog Retail | 0.1 | |||||
Consumer Finance | 0.1 | |||||
Diversified Consumer Services | 0.1 | |||||
Water Utilities | 0.1 | |||||
Life Sciences Tools & Services | 0.1 | |||||
Thrifts & Mortgage Finance | 0.1 | |||||
Distributors | 0.0 | *** | ||||
Health Care Technology | 0.0 | *** | ||||
Short Term Investments | 5.4 | |||||
Other Assets & Liabilities | (4.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Chong Hing Bank, Ltd., which was Level 2 and part of the Banks Industry, Irish Bank Resolution Corp., Ltd., which was Level 2 and part of the Banks Industry, Digitech Systems Co., Ltd., which was Level 2 and part of the Electronic Equipment, Instruments & Components Industry, and Mota — Engil SGPS SA, which was Level 2 and part of the Construction & Engineering Industry, each representing 0.00% of net assets. (Note 2) | |
*** | Amount shown represents less then 0.05% of net assets. |
39
SPDR S&P International Small Cap ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (4/20/07, 4/26/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Small Cap ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
NET ASSET | MARKET | EX-U.S. UNDER USD2 | NET ASSET | MARKET | EX-U.S. UNDER USD2 | |||||||||||||||||||
VALUE | VALUE | BILLION INDEX | VALUE | VALUE | BILLION INDEX | |||||||||||||||||||
SIX MONTHS | 6.17% | 6.12% | 6.62% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 14.97% | 14.18% | 16.54% | 14.97% | 14.18% | 16.54% | ||||||||||||||||||
THREE YEARS | 17.84% | 17.30% | 16.88% | 5.62% | 5.46% | 5.34% | ||||||||||||||||||
FIVE YEARS | 140.91% | 140.36% | 139.05% | 19.23% | 19.17% | 19.04% | ||||||||||||||||||
SINCE INCEPTION (1) | 13.96% | 13.56% | 11.13% | 1.90% | 1.85% | 1.53% | ||||||||||||||||||
(1) | For the period April 20, 2007 to March 31, 2014. |
40
SPDR S&P International Small Cap ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. under | |||||||
International Small | USD2 Billion | |||||||
Cap ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
4/20/2007 | 10053.00 | 10057.00 | ||||||
5/31/2007 | 10261.00 | 10292.00 | ||||||
6/30/2007 | 10250.00 | 10312.00 | ||||||
7/31/2007 | 10368.00 | 10408.00 | ||||||
8/31/2007 | 9927.00 | 9917.00 | ||||||
9/30/2007 | 10315.00 | 10290.00 | ||||||
10/31/2007 | 10885.00 | 10827.00 | ||||||
11/30/2007 | 10053.00 | 9972.00 | ||||||
12/31/2007 | 9776.00 | 9705.00 | ||||||
1/31/2008 | 8878.00 | 8776.00 | ||||||
2/29/2008 | 9238.00 | 9182.00 | ||||||
3/31/2008 | 9154.00 | 8971.00 | ||||||
4/30/2008 | 9356.00 | 9178.00 | ||||||
5/31/2008 | 9523.00 | 9420.00 | ||||||
6/30/2008 | 8849.00 | 8756.00 | ||||||
7/31/2008 | 8484.00 | 8329.00 | ||||||
8/31/2008 | 8104.00 | 7896.00 | ||||||
9/30/2008 | 6826.00 | 6630.00 | ||||||
10/1/2008 | 5150.00 | 4976.00 | ||||||
11/2/2008 | 4923.00 | 4753.00 | ||||||
12/3/2008 | 5332.00 | 5136.00 | ||||||
1/9/2009 | 4969.00 | 4850.00 | ||||||
2/9/2009 | 4440.00 | 4344.00 | ||||||
3/9/2009 | 4731.00 | 4650.00 | ||||||
4/30/2009 | 5441.00 | 5317.00 | ||||||
5/31/2009 | 6181.00 | 6099.00 | ||||||
6/30/2009 | 6283.00 | 6186.00 | ||||||
7/9/2009 | 6730.00 | 6625.00 | ||||||
8/31/2009 | 7216.00 | 7066.00 | ||||||
9/30/2009 | 7539.00 | 7420.00 | ||||||
10/31/2009 | 7423.00 | 7319.00 | ||||||
11/30/2009 | 7432.00 | 7354.00 | ||||||
12/31/2009 | 7544.00 | 7483.00 | ||||||
1/31/2010 | 7413.00 | 7358.00 | ||||||
2/28/2010 | 7410.00 | 7368.00 | ||||||
3/31/2010 | 7923.00 | 7868.00 | ||||||
4/30/2010 | 8149.00 | 8045.00 | ||||||
5/31/2010 | 7243.00 | 7136.00 | ||||||
6/30/2010 | 7246.00 | 7072.00 | ||||||
7/31/2010 | 7786.00 | 7592.00 | ||||||
8/31/2010 | 7620.00 | 7403.00 | ||||||
9/30/2010 | 8409.00 | 8196.00 | ||||||
10/31/2010 | 8680.00 | 8482.00 | ||||||
11/30/2010 | 8472.00 | 8307.00 | ||||||
12/31/2010 | 9388.00 | 9211.00 | ||||||
1/31/2011 | 9455.00 | 9277.00 | ||||||
2/28/2011 | 9657.00 | 9503.00 | ||||||
3/31/2011 | 9669.00 | 9509.00 | ||||||
4/30/2011 | 10028.00 | 9883.00 | ||||||
5/31/2011 | 9758.00 | 9598.00 | ||||||
6/30/2011 | 9668.00 | 9439.00 | ||||||
7/31/2011 | 9711.00 | 9494.00 | ||||||
8/31/2011 | 8977.00 | 8739.00 | ||||||
9/30/2011 | 7928.00 | 7695.00 | ||||||
10/31/2011 | 8500.00 | 8274.00 | ||||||
11/30/2011 | 8073.00 | 7821.00 | ||||||
12/31/2011 | 7921.00 | 7706.00 | ||||||
1/31/2012 | 8593.00 | 8352.00 | ||||||
2/29/2012 | 9036.00 | 8790.00 | ||||||
3/31/2012 | 9042.00 | 8733.00 | ||||||
4/30/2012 | 8908.00 | 8608.00 | ||||||
5/31/2012 | 7904.00 | 7651.00 | ||||||
6/30/2012 | 8172.00 | 7922.00 | ||||||
7/31/2012 | 8174.00 | 7935.00 | ||||||
8/31/2012 | 8356.00 | 8153.00 | ||||||
9/30/2012 | 8780.00 | 8516.00 | ||||||
10/31/2012 | 8783.00 | 8494.00 | ||||||
11/30/2012 | 8820.00 | 8538.00 | ||||||
12/31/2012 | 9167.00 | 8884.00 | ||||||
1/31/2013 | 9572.00 | 9279.00 | ||||||
2/28/2013 | 9707.00 | 9345.00 | ||||||
3/31/2013 | 9912.00 | 9536.00 | ||||||
4/30/2013 | 10163.00 | 9829.00 | ||||||
5/31/2013 | 9807.00 | 9503.00 | ||||||
6/30/2013 | 9454.00 | 9141.00 | ||||||
7/31/2013 | 9947.00 | 9621.00 | ||||||
8/31/2013 | 9901.00 | 9586.00 | ||||||
9/30/2013 | 10734.00 | 10423.00 | ||||||
10/31/2013 | 10949.00 | 10617.00 | ||||||
11/30/2013 | 10935.00 | 10591.00 | ||||||
12/31/2013 | 11157.00 | 10775.00 | ||||||
1/31/2014 | 10987.00 | 10691.00 | ||||||
2/28/2014 | 11437.00 | 11088.00 | ||||||
3/31/2014 | 11396.00 | 11113.00 |
Past performance is not a guarantee of future results.
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.
41
SPDR S&P International Small Cap ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
BELIMO HOLDING | WIHLBORGS FASTIGHETER | HONG LEONG FINANCE, | INTERPUMP GROUP | |||||||
DESCRIPTION | AG | AB | LTD. | SPA | RUBIS | |||||
MARKET VALUE | $4,089,291 | 3,832,734 | 3,668,417 | 3,487,588 | 3,440,879 | |||||
% OF NET ASSETS | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Machinery | 5.4 | % | ||||
Real Estate Investment Trusts | 5.4 | |||||
Metals & Mining | 5.1 | |||||
Banks | 4.3 | |||||
Oil, Gas & Consumable Fuels | 4.1 | |||||
Construction & Engineering | 4.0 | |||||
Real Estate Management & Development | 3.6 | |||||
Hotels, Restaurants & Leisure | 3.5 | |||||
Capital Markets | 3.5 | |||||
Electronic Equipment, Instruments & Components | 3.4 | |||||
Media | 3.3 | |||||
Specialty Retail | 3.2 | |||||
Chemicals | 3.1 | |||||
Commercial Services & Supplies | 2.9 | |||||
Software | 2.5 | |||||
Food Products | 2.4 | |||||
Electrical Equipment | 2.0 | |||||
Trading Companies & Distributors | 1.9 | |||||
Pharmaceuticals | 1.8 | |||||
Household Durables | 1.7 | |||||
Semiconductors & Semiconductor Equipment | 1.6 | |||||
Auto Components | 1.5 | |||||
Textiles, Apparel & Luxury Goods | 1.5 | |||||
Building Products | 1.5 | |||||
Health Care Equipment & Supplies | 1.5 | |||||
Energy Equipment & Services | 1.4 | |||||
Beverages | 1.3 | |||||
Biotechnology | 1.2 | |||||
Road & Rail | 1.0 | |||||
Industrial Conglomerates | 1.0 | |||||
IT Services | 0.9 | |||||
Health Care Providers & Services | 0.9 | |||||
Professional Services | 0.9 | |||||
Transportation Infrastructure | 0.9 | |||||
Containers & Packaging | 0.9 | |||||
Construction Materials | 0.8 | |||||
Food & Staples Retailing | 0.8 | |||||
Marine | 0.8 | |||||
Internet & Catalog Retail | 0.8 | |||||
Insurance | 0.8 | |||||
Paper & Forest Products | 0.7 | |||||
Communications Equipment | 0.7 | |||||
Internet Software & Services | 0.7 | |||||
Aerospace & Defense | 0.6 | |||||
Diversified Financial Services | 0.6 | |||||
Consumer Finance | 0.6 | |||||
Multiline Retail | 0.6 | |||||
Diversified Consumer Services | 0.6 | |||||
Gas Utilities | 0.5 | |||||
Diversified Telecommunication Services | 0.5 | |||||
Wireless Telecommunication Services | 0.5 | |||||
Airlines | 0.5 | |||||
Air Freight & Logistics | 0.4 | |||||
Distributors | 0.4 | |||||
Independent Power & Renewable Electricity Producers | 0.4 | |||||
Technology Hardware, Storage & Peripherals | 0.4 | |||||
Life Sciences Tools & Services | 0.3 | |||||
Multi-Utilities | 0.3 | |||||
Thrifts & Mortgage Finance | 0.2 | |||||
Household Products | 0.2 | |||||
Leisure Products | 0.1 | |||||
Personal Products | 0.1 | |||||
Electric Utilities | 0.1 | |||||
Health Care Technology | 0.1 | |||||
Automobiles | 0.1 | |||||
Water Utilities | 0.0 | *** | ||||
Technology Hardware & Equipment | 0.0 | *** | ||||
Commercial & Professional Services | 0.0 | *** | ||||
Short Term Investments | 11.0 | |||||
Other Assets & Liabilities | (10.3 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Basin Gold, Ltd., which was Level 3 and part of the Metals & Mining Industry, Sequana, which was Level 2 and part of the Paper & Forest Products Industry, Platinum Australia, Ltd., which was Level 2 and part of the Metals & Mining Industry, Peace Mark (Holdings), Ltd., which was Level 2 and part of the Textiles, Apparel & Luxury Goods Industry, Poseidon Corp., which was Level 2 and part of the Energy Equipment & Services Industry, Amagerbanken A/S, which was Level 2 and part of the Banks Industry, and TT Hellenic Postbank SA, which was Level 2 and part of the Banks Industry, each representing 0.00% of net assets, and Cosmax, Inc., which was Level 2 and part of the Personal Products Industry, representing 0.05% of net assets. (Note 2) | |
*** | Amount shown represents less then 0.05% of net assets. |
42
SPDR Dow Jones International Real Estate ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (12/15/06, 12/20/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Dow Jones International Real Estate ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.59%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES GLOBAL | DOW JONES GLOBAL | |||||||||||||||||||||||
EX-U.S. SELECT REAL | EX-U.S. SELECT REAL | |||||||||||||||||||||||
NET ASSET | MARKET | ESTATE SECURITIES | NET ASSET | MARKET | ESTATE SECURITIES | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | 0.64% | 0.41% | 0.81% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 0.67% | 0.42% | 0.75% | 0.67% | 0.42% | 0.75% | ||||||||||||||||||
THREE YEARS | 23.48% | 23.18% | 25.50% | 7.28% | 7.20% | 7.86% | ||||||||||||||||||
FIVE YEARS | 150.68% | 148.94% | 157.26% | 20.18% | 20.01% | 20.81% | ||||||||||||||||||
SINCE INCEPTION (1) | −1.36% | −1.20% | 1.61% | −0.19% | −0.17% | 0.22% | ||||||||||||||||||
(1) | For the period December 15, 2006 to March 31, 2014. |
43
SPDR Dow Jones International Real Estate ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
Dow Jones | ||||||||
SPDR Dow | Global ex-U.S. | |||||||
Jones International | Select Real | |||||||
Real Estate | Estate Securities | |||||||
ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
12/15/2006 | 10401.00 | 10397.00 | ||||||
1/31/2007 | 10546.00 | 10576.00 | ||||||
2/28/2007 | 10836.00 | 10871.00 | ||||||
3/31/2007 | 11150.00 | 11207.00 | ||||||
4/30/2007 | 11391.00 | 11448.00 | ||||||
5/31/2007 | 11606.00 | 11670.00 | ||||||
6/30/2007 | 10859.00 | 10949.00 | ||||||
7/31/2007 | 10298.00 | 10383.00 | ||||||
8/31/2007 | 10271.00 | 10341.00 | ||||||
9/30/2007 | 10810.00 | 10901.00 | ||||||
10/31/2007 | 11010.00 | 11113.00 | ||||||
11/30/2007 | 10175.00 | 10275.00 | ||||||
12/31/2007 | 9683.00 | 9786.00 | ||||||
1/31/2008 | 9172.00 | 9258.00 | ||||||
2/29/2008 | 9208.00 | 9285.00 | ||||||
3/31/2008 | 9033.00 | 9098.00 | ||||||
4/30/2008 | 9452.00 | 9510.00 | ||||||
5/31/2008 | 9251.00 | 9313.00 | ||||||
6/30/2008 | 8218.00 | 8250.00 | ||||||
7/31/2008 | 8103.00 | 8145.00 | ||||||
8/31/2008 | 7736.00 | 7770.00 | ||||||
9/30/2008 | 6661.00 | 6680.00 | ||||||
10/1/2008 | 4963.00 | 4954.00 | ||||||
11/2/2008 | 4534.00 | 4530.00 | ||||||
12/3/2008 | 4733.00 | 4734.00 | ||||||
1/9/2009 | 4281.00 | 4288.00 | ||||||
2/9/2009 | 3682.00 | 3691.00 | ||||||
3/9/2009 | 3935.00 | 3950.00 | ||||||
4/30/2009 | 4471.00 | 4495.00 | ||||||
5/31/2009 | 5141.00 | 5163.00 | ||||||
6/30/2009 | 5229.00 | 5255.00 | ||||||
7/9/2009 | 5724.00 | 5771.00 | ||||||
8/31/2009 | 6220.00 | 6263.00 | ||||||
9/30/2009 | 6560.00 | 6613.00 | ||||||
10/31/2009 | 6508.00 | 6557.00 | ||||||
11/30/2009 | 6470.00 | 6539.00 | ||||||
12/31/2009 | 6564.00 | 6632.00 | ||||||
1/31/2010 | 6297.00 | 6351.00 | ||||||
2/28/2010 | 6331.00 | 6398.00 | ||||||
3/31/2010 | 6623.00 | 6684.00 | ||||||
4/30/2010 | 6710.00 | 6778.00 | ||||||
5/31/2010 | 5988.00 | 6080.00 | ||||||
6/30/2010 | 5999.00 | 6076.00 | ||||||
7/31/2010 | 6627.00 | 6723.00 | ||||||
8/31/2010 | 6708.00 | 6801.00 | ||||||
9/30/2010 | 7357.00 | 7467.00 | ||||||
10/31/2010 | 7702.00 | 7814.00 | ||||||
11/30/2010 | 7250.00 | 7357.00 | ||||||
12/31/2010 | 7927.00 | 8058.00 | ||||||
1/31/2011 | 7902.00 | 8005.00 | ||||||
2/28/2011 | 8109.00 | 8201.00 | ||||||
3/31/2011 | 7988.00 | 8098.00 | ||||||
4/30/2011 | 8457.00 | 8576.00 | ||||||
5/31/2011 | 8403.00 | 8526.00 | ||||||
6/30/2011 | 8309.00 | 8429.00 | ||||||
7/31/2011 | 8225.00 | 8362.00 | ||||||
8/31/2011 | 7777.00 | 7906.00 | ||||||
9/30/2011 | 6860.00 | 6963.00 | ||||||
10/31/2011 | 7439.00 | 7558.00 | ||||||
11/30/2011 | 7013.00 | 7130.00 | ||||||
12/31/2011 | 6805.00 | 6923.00 | ||||||
1/31/2012 | 7363.00 | 7520.00 | ||||||
2/29/2012 | 7790.00 | 7977.00 | ||||||
3/31/2012 | 7848.00 | 8021.00 | ||||||
4/30/2012 | 7974.00 | 8151.00 | ||||||
5/31/2012 | 7394.00 | 7547.00 | ||||||
6/30/2012 | 7919.00 | 8086.00 | ||||||
7/31/2012 | 8305.00 | 8485.00 | ||||||
8/31/2012 | 8358.00 | 8546.00 | ||||||
9/30/2012 | 8611.00 | 8828.00 | ||||||
10/31/2012 | 8874.00 | 9092.00 | ||||||
11/30/2012 | 9018.00 | 9249.00 | ||||||
12/31/2012 | 9280.00 | 9534.00 | ||||||
1/31/2013 | 9453.00 | 9723.00 | ||||||
2/28/2013 | 9555.00 | 9855.00 | ||||||
3/31/2013 | 9798.00 | 10085.00 | ||||||
4/30/2013 | 10498.00 | 10809.00 | ||||||
5/31/2013 | 9538.00 | 9843.00 | ||||||
6/30/2013 | 9220.00 | 9490.00 | ||||||
7/31/2013 | 9335.00 | 9610.00 | ||||||
8/31/2013 | 9032.00 | 9289.00 | ||||||
9/30/2013 | 9801.00 | 10080.00 | ||||||
10/31/2013 | 10055.00 | 10349.00 | ||||||
11/30/2013 | 9835.00 | 10117.00 | ||||||
12/31/2013 | 9740.00 | 10033.00 | ||||||
1/31/2014 | 9446.00 | 9732.00 | ||||||
2/28/2014 | 9861.00 | 10163.00 | ||||||
3/31/2014 | 9864.00 | 10161.00 |
Past performance is not a guarantee of future results.
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.
44
SPDR Dow Jones International Real Estate ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
BROOKFIELD ASSET | ||||||||||
MANAGEMENT, INC. | LAND SECURITIES | |||||||||
DESCRIPTION | MITSUI FUDOSAN CO., LTD. | UNIBAIL-RODAMCO SE | (CLASS A) | WESTFIELD GROUP | GROUP PLC | |||||
MARKET VALUE | $284,827,256 | 266,948,182 | 245,345,226 | 195,204,965 | 140,351,474 | |||||
% OF NET ASSETS | 6.7 | 6.3 | 5.8 | 4.6 | 3.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Real Estate Management & Development | 35.6 | % | ||||
Retail REITs | 27.2 | |||||
Diversified REITs | 19.5 | |||||
Office REITs | 10.8 | |||||
Industrial REITs | 4.4 | |||||
Diversified Capital Markets | 1.0 | |||||
Residential REITs | 0.7 | |||||
Specialized REITs | 0.5 | |||||
Air Freight & Logistics | 0.0 | *** | ||||
Short Term Investments | 2.8 | |||||
Other Assets & Liabilities | (2.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Martinsa-Fadesa SA, which was Level 2 and part of the Real Estate Management & Development Industry, representing 0.00% of net assets. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
45
SPDR S&P Global Infrastructure ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/25/07, 1/30/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Global Infrastructure ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.40%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P GLOBAL | NET ASSET | MARKET | S&P GLOBAL | |||||||||||||||||||
VALUE | VALUE | INFRASTRUCTURE INDEX | VALUE | VALUE | INFRASTRUCTURE INDEX | |||||||||||||||||||
SIX MONTHS | 11.52% | 11.99% | 11.48% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR (1) | 18.13% | 18.27% | 15.89% | 18.13% | 18.27% | 15.89% | ||||||||||||||||||
THREE YEARS (1) | 25.98% | 26.25% | 26.94% | 8.00% | 8.08% | 8.27% | ||||||||||||||||||
FIVE YEARS (1) | 74.94% | 75.50% | 106.56% | 11.84% | 11.91% | 15.62% | ||||||||||||||||||
SINCE INCEPTION (1)(2) | 22.25% | 22.46% | 28.39% | 2.84% | 2.86% | 3.54% | ||||||||||||||||||
(1) | Effective May 1, 2013, the Fund changed its benchmark index from the Macquarie Global Infrastructure 100 Index to the S&P Global Infrastructure Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index for periods prior to May 1, 2013. | |
(2) | For the period January 25, 2007 to March 31, 2014. |
46
SPDR S&P Global Infrastructure ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Global | |||||||
Global Infrastructure | Infrastructure Index | |||||||
ETF (a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
1/25/2007 | 10089.00 | 10089.00 | ||||||
2/28/2007 | 10274.00 | 10277.00 | ||||||
3/31/2007 | 10684.00 | 10692.00 | ||||||
4/30/2007 | 11113.00 | 11125.00 | ||||||
5/31/2007 | 11383.00 | 11425.00 | ||||||
6/30/2007 | 11079.00 | 11120.00 | ||||||
7/31/2007 | 10714.00 | 10754.00 | ||||||
8/31/2007 | 10893.00 | 10949.00 | ||||||
9/30/2007 | 11442.00 | 11508.00 | ||||||
10/31/2007 | 12133.00 | 12217.00 | ||||||
11/30/2007 | 12293.00 | 12386.00 | ||||||
12/31/2007 | 12244.00 | 12343.00 | ||||||
1/31/2008 | 11363.00 | 11453.00 | ||||||
2/29/2008 | 11312.00 | 11411.00 | ||||||
3/31/2008 | 11244.00 | 11348.00 | ||||||
4/30/2008 | 11652.00 | 11778.00 | ||||||
5/31/2008 | 12074.00 | 12219.00 | ||||||
6/30/2008 | 11615.00 | 11756.00 | ||||||
7/31/2008 | 11175.00 | 11313.00 | ||||||
8/31/2008 | 10799.00 | 10933.00 | ||||||
9/30/2008 | 9505.00 | 9614.00 | ||||||
10/31/2008 | 8163.00 | 8251.00 | ||||||
11/30/2008 | 8014.00 | 8108.00 | ||||||
12/31/2008 | 8385.00 | 8500.00 | ||||||
1/31/2009 | 7857.00 | 7968.00 | ||||||
2/28/2009 | 6946.00 | 7044.00 | ||||||
3/31/2009 | 6988.00 | 7085.00 | ||||||
4/30/2009 | 7367.00 | 7484.00 | ||||||
5/31/2009 | 7955.00 | 8099.00 | ||||||
6/30/2009 | 8019.00 | 8161.00 | ||||||
7/31/2009 | 8373.00 | 8526.00 | ||||||
8/31/2009 | 8697.00 | 8861.00 | ||||||
9/30/2009 | 8993.00 | 9166.00 | ||||||
10/31/2009 | 8598.00 | 8780.00 | ||||||
11/30/2009 | 9006.00 | 9198.00 | ||||||
12/31/2009 | 9312.00 | 9528.00 | ||||||
1/31/2010 | 8841.00 | 9048.00 | ||||||
2/28/2010 | 8732.00 | 8940.00 | ||||||
3/31/2010 | 8998.00 | 9221.00 | ||||||
4/30/2010 | 8889.00 | 9122.00 | ||||||
5/31/2010 | 8186.00 | 8388.00 | ||||||
6/30/2010 | 8138.00 | 8351.00 | ||||||
7/31/2010 | 8802.00 | 9040.00 | ||||||
8/31/2010 | 8784.00 | 9023.00 | ||||||
9/30/2010 | 9139.00 | 9409.00 | ||||||
10/31/2010 | 9516.00 | 9804.00 | ||||||
11/30/2010 | 8969.00 | 9252.00 | ||||||
12/31/2010 | 9415.00 | 9720.00 | ||||||
1/31/2011 | 9699.00 | 10014.00 | ||||||
2/28/2011 | 9953.00 | 10279.00 | ||||||
3/31/2011 | 9704.00 | 10033.00 | ||||||
4/30/2011 | 10162.00 | 10516.00 | ||||||
5/31/2011 | 9924.00 | 10285.00 | ||||||
6/30/2011 | 9917.00 | 10284.00 | ||||||
7/31/2011 | 9641.00 | 10003.00 | ||||||
8/31/2011 | 9339.00 | 9699.00 | ||||||
9/30/2011 | 9044.00 | 9389.00 | ||||||
10/31/2011 | 9451.00 | 9821.00 | ||||||
11/30/2011 | 9400.00 | 9768.00 | ||||||
12/31/2011 | 9424.00 | 9811.00 | ||||||
1/31/2012 | 9315.00 | 9711.00 | ||||||
2/29/2012 | 9569.00 | 9991.00 | ||||||
3/31/2012 | 9624.00 | 10055.00 | ||||||
4/30/2012 | 9593.00 | 10028.00 | ||||||
5/31/2012 | 9102.00 | 9524.00 | ||||||
6/30/2012 | 9601.00 | 10062.00 | ||||||
7/31/2012 | 9592.00 | 10066.00 | ||||||
8/31/2012 | 9586.00 | 10062.00 | ||||||
9/30/2012 | 9788.00 | 10276.00 | ||||||
10/31/2012 | 9860.00 | 10357.00 | ||||||
11/30/2012 | 9607.00 | 10099.00 | ||||||
12/31/2012 | 9746.00 | 10264.00 | ||||||
1/31/2013 | 10005.00 | 10549.00 | ||||||
2/28/2013 | 9976.00 | 10526.00 | ||||||
3/31/2013 | 10349.00 | 10928.00 | ||||||
4/30/2013 | 11011.00 | 11612.00 | ||||||
5/31/2013 | 10420.00 | 11004.00 | ||||||
6/30/2013 | 10205.00 | 10758.00 | ||||||
7/31/2013 | 10628.00 | 11210.00 | ||||||
8/31/2013 | 10314.00 | 10867.00 | ||||||
9/30/2013 | 10962.00 | 11553.00 | ||||||
10/31/2013 | 11380.00 | 11995.00 | ||||||
11/30/2013 | 11287.00 | 11892.00 | ||||||
12/31/2013 | 11434.00 | 12049.00 | ||||||
1/31/2014 | 11336.00 | 11949.00 | ||||||
2/28/2014 | 11877.00 | 12511.00 | ||||||
3/31/2014 | 12225.00 | 12879.00 |
Past performance is not a guarantee of future results.
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.
(1) | Effective May 1, 2013, the Fund changed its benchmark index from the Macquarie Global Infrastructure 100 Index to the S&P Global Infrastructure Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index for periods prior to May 1, 2013. | |
(2) | Index returns represent the Fund’s prior investment strategy from January 25, 2007 through April 30, 2013 and the S&P Global Infrastructure Index from May 1, 2013 through September 30, 2013. |
47
SPDR S&P Global Infrastructure ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
ABERTIS INFRAESTRUCTURAS | GROUPE EUROTUNNEL | |||||||||
DESCRIPTION | TRANSURBAN GROUP | ATLANTIA SPA | SA | ENBRIDGE, INC. | SA | |||||
MARKET VALUE | $4,371,054 | 4,070,259 | 3,584,094 | 3,424,697 | 3,085,543 | |||||
% OF NET ASSETS | 4.6 | 4.3 | 3.8 | 3.6 | 3.2 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Transportation Infrastructure | 40.0 | % | ||||
Electric Utilities | 20.1 | |||||
Oil, Gas & Consumable Fuels | 19.9 | |||||
Multi-Utilities | 18.1 | |||||
Independent Power & Renewable Electricity Producers | 0.9 | |||||
Gas Utilities | 0.4 | |||||
Water Utilities | 0.4 | |||||
Short Term Investments | 15.0 | |||||
Other Assets & Liabilities | (14.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
48
SPDR S&P Global Natural Resources ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (9/13/10, 9/14/10, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Global Natural Resources ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.40%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P GLOBAL NATURAL | NET ASSET | MARKET | S&P GLOBAL NATURAL | |||||||||||||||||||
VALUE | VALUE | RESOURCES INDEX | VALUE | VALUE | RESOURCES INDEX | |||||||||||||||||||
SIX MONTHS | 4.27% | 4.69% | 4.54% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 2.40% | 2.69% | 3.07% | 2.40% | 2.69% | 3.07% | ||||||||||||||||||
THREE YEARS | −14.53% | −14.64% | −12.99% | −5.10% | −5.14% | −4.53% | ||||||||||||||||||
SINCE INCEPTION (1) | 7.15% | 7.47% | 9.43% | 1.97% | 2.05% | 2.57% | ||||||||||||||||||
(1) | For the period September 13, 2010 to March 31, 2014. |
49
SPDR S&P Global Natural Resources ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Global | |||||||
Global Natural | Natural Resources | |||||||
Resources ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
9/13/2010 | 10152.00 | 10156.00 | ||||||
10/31/2010 | 10798.00 | 10808.00 | ||||||
11/30/2010 | 10608.00 | 10624.00 | ||||||
12/31/2010 | 11794.00 | 11813.00 | ||||||
1/31/2011 | 11990.00 | 12015.00 | ||||||
2/28/2011 | 12483.00 | 12515.00 | ||||||
3/31/2011 | 12537.00 | 12578.00 | ||||||
4/30/2011 | 12782.00 | 12825.00 | ||||||
5/31/2011 | 12251.00 | 12314.00 | ||||||
6/30/2011 | 12007.00 | 12076.00 | ||||||
7/31/2011 | 11929.00 | 12000.00 | ||||||
8/31/2011 | 11094.00 | 11164.00 | ||||||
9/30/2011 | 9283.00 | 9330.00 | ||||||
10/31/2011 | 10670.00 | 10736.00 | ||||||
11/30/2011 | 10340.00 | 10401.00 | ||||||
12/31/2011 | 9988.00 | 10058.00 | ||||||
1/31/2012 | 10818.00 | 10902.00 | ||||||
2/29/2012 | 11181.00 | 11271.00 | ||||||
3/31/2012 | 10683.00 | 10774.00 | ||||||
4/30/2012 | 10508.00 | 10602.00 | ||||||
5/31/2012 | 9224.00 | 9322.00 | ||||||
6/30/2012 | 9757.00 | 9862.00 | ||||||
7/31/2012 | 9827.00 | 9938.00 | ||||||
8/31/2012 | 10003.00 | 10113.00 | ||||||
9/30/2012 | 10496.00 | 10626.00 | ||||||
10/31/2012 | 10419.00 | 10550.00 | ||||||
11/30/2012 | 10328.00 | 10467.00 | ||||||
12/31/2012 | 10627.00 | 10778.00 | ||||||
1/31/2013 | 11014.00 | 11175.00 | ||||||
2/28/2013 | 10648.00 | 10808.00 | ||||||
3/31/2013 | 10464.00 | 10617.00 | ||||||
4/30/2013 | 10309.00 | 10477.00 | ||||||
5/31/2013 | 10124.00 | 10300.00 | ||||||
6/30/2013 | 9454.00 | 9610.00 | ||||||
7/31/2013 | 9757.00 | 9924.00 | ||||||
8/31/2013 | 9802.00 | 9978.00 | ||||||
9/30/2013 | 10277.00 | 10467.00 | ||||||
10/31/2013 | 10615.00 | 10819.00 | ||||||
11/30/2013 | 10467.00 | 10672.00 | ||||||
12/31/2013 | 10729.00 | 10944.00 | ||||||
1/31/2014 | 10117.00 | 10327.00 | ||||||
2/28/2014 | 10644.00 | 10865.00 | ||||||
3/31/2014 | 10715.00 | 10943.00 |
Past performance is not a guarantee of future results.
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.
50
SPDR S&P Global Natural Resources ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
POTASH CORP. OF | ||||||||||
DESCRIPTION | EXXON MOBIL CORP. | BHP BILLITON, LTD. | SYNGENTA AG | SASKATCHEWAN, INC. | MONSANTO CO. | |||||
MARKET VALUE | $27,250,766 | 25,322,566 | 23,610,470 | 20,960,731 | 20,383,602 | |||||
% OF NET ASSETS | 5.2 | 4.8 | 4.5 | 4.0 | 3.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 33.9 | % | ||||
Metals & Mining | 31.2 | |||||
Chemicals | 19.7 | |||||
Paper & Forest Products | 6.0 | |||||
Food Products | 4.3 | |||||
Containers & Packaging | 3.4 | |||||
Real Estate Investment Trusts | 0.9 | |||||
Short Term Investments | 7.3 | |||||
Other Assets & Liabilities | (6.7 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
51
SPDR MSCI ACWI ex-US ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/10/07, 1/17/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR MSCI ACWI ex-US ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.34%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | MSCI ALL COUNTRY | NET ASSET | MARKET | MSCI ALL COUNTRY | |||||||||||||||||||
VALUE | VALUE | WORLD INDEX EX USA | VALUE | VALUE | WORLD INDEX EX USA | |||||||||||||||||||
SIX MONTHS | 5.33% | 5.72% | 5.45% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 12.10% | 12.04% | 12.80% | 12.10% | 12.04% | 12.80% | ||||||||||||||||||
THREE YEARS | 11.79% | 11.54% | 14.53% | 3.78% | 3.71% | 4.62% | ||||||||||||||||||
FIVE YEARS | 103.60% | 104.16% | 110.35% | 15.28% | 15.34% | 16.04% | ||||||||||||||||||
SINCE INCEPTION (1) | 20.37% | 20.73% | 23.93% | 2.60% | 2.64% | 3.02% | ||||||||||||||||||
(1) | For the period January 10, 2007 to March 31, 2014. |
52
SPDR MSCI ACWI ex-US ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
MSCI All | ||||||||
SPDR MSCI | Country World | |||||||
ACWI ex-US | Index ex | |||||||
ETF | USA | |||||||
10000.00 | 10000.00 | |||||||
1/10/2007 | 10306.00 | 10315.00 | ||||||
2/28/2007 | 10362.00 | 10378.00 | ||||||
3/31/2007 | 10657.00 | 10671.00 | ||||||
4/30/2007 | 11140.00 | 11166.00 | ||||||
5/31/2007 | 11421.00 | 11472.00 | ||||||
6/30/2007 | 11494.00 | 11569.00 | ||||||
7/31/2007 | 11402.00 | 11537.00 | ||||||
8/31/2007 | 11228.00 | 11359.00 | ||||||
9/30/2007 | 11955.00 | 12111.00 | ||||||
10/31/2007 | 12607.00 | 12787.00 | ||||||
11/30/2007 | 12042.00 | 12213.00 | ||||||
12/31/2007 | 11861.00 | 12036.00 | ||||||
1/31/2008 | 10763.00 | 10871.00 | ||||||
2/29/2008 | 11010.00 | 11186.00 | ||||||
3/31/2008 | 10783.00 | 10944.00 | ||||||
4/30/2008 | 11457.00 | 11617.00 | ||||||
5/31/2008 | 11658.00 | 11818.00 | ||||||
6/30/2008 | 10709.00 | 10849.00 | ||||||
7/31/2008 | 10296.00 | 10461.00 | ||||||
8/31/2008 | 9838.00 | 9974.00 | ||||||
9/30/2008 | 8424.00 | 8479.00 | ||||||
10/31/2008 | 6670.00 | 6613.00 | ||||||
11/30/2008 | 6266.00 | 6233.00 | ||||||
12/31/2008 | 6608.00 | 6590.00 | ||||||
1/31/2009 | 6028.00 | 6009.00 | ||||||
2/28/2009 | 5457.00 | 5450.00 | ||||||
3/31/2009 | 5911.00 | 5890.00 | ||||||
4/30/2009 | 6749.00 | 6700.00 | ||||||
5/31/2009 | 7671.00 | 7617.00 | ||||||
6/30/2009 | 7572.00 | 7536.00 | ||||||
7/31/2009 | 8310.00 | 8275.00 | ||||||
8/31/2009 | 8614.00 | 8583.00 | ||||||
9/30/2009 | 9049.00 | 9026.00 | ||||||
10/31/2009 | 8915.00 | 8915.00 | ||||||
11/30/2009 | 9189.00 | 9173.00 | ||||||
12/31/2009 | 9388.00 | 9368.00 | ||||||
1/31/2010 | 8908.00 | 8911.00 | ||||||
2/28/2010 | 8896.00 | 8912.00 | ||||||
3/31/2010 | 9496.00 | 9522.00 | ||||||
4/30/2010 | 9415.00 | 9445.00 | ||||||
5/31/2010 | 8421.00 | 8462.00 | ||||||
6/30/2010 | 8315.00 | 8355.00 | ||||||
7/31/2010 | 9071.00 | 9112.00 | ||||||
8/31/2010 | 8797.00 | 8863.00 | ||||||
9/30/2010 | 9694.00 | 9747.00 | ||||||
10/31/2010 | 10032.00 | 10080.00 | ||||||
11/30/2010 | 9636.00 | 9693.00 | ||||||
12/31/2010 | 10381.00 | 10454.00 | ||||||
1/31/2011 | 10513.00 | 10559.00 | ||||||
2/28/2011 | 10803.00 | 10840.00 | ||||||
3/31/2011 | 10769.00 | 10819.00 | ||||||
4/30/2011 | 11287.00 | 11356.00 | ||||||
5/31/2011 | 10951.00 | 11041.00 | ||||||
6/30/2011 | 10776.00 | 10885.00 | ||||||
7/31/2011 | 10579.00 | 10740.00 | ||||||
8/31/2011 | 9671.00 | 9821.00 | ||||||
9/30/2011 | 8628.00 | 8732.00 | ||||||
10/31/2011 | 9533.00 | 9652.00 | ||||||
11/30/2011 | 9095.00 | 9162.00 | ||||||
12/31/2011 | 8977.00 | 9061.00 | ||||||
1/31/2012 | 9569.00 | 9678.00 | ||||||
2/29/2012 | 10082.00 | 10225.00 | ||||||
3/31/2012 | 9954.00 | 10090.00 | ||||||
4/30/2012 | 9797.00 | 9940.00 | ||||||
5/31/2012 | 8680.00 | 8821.00 | ||||||
6/30/2012 | 9212.00 | 9346.00 | ||||||
7/31/2012 | 9335.00 | 9481.00 | ||||||
8/31/2012 | 9520.00 | 9681.00 | ||||||
9/30/2012 | 9855.00 | 10046.00 | ||||||
10/31/2012 | 9884.00 | 10086.00 | ||||||
11/30/2012 | 10062.00 | 10280.00 | ||||||
12/31/2012 | 10400.00 | 10638.00 | ||||||
1/31/2013 | 10825.00 | 11073.00 | ||||||
2/28/2013 | 10701.00 | 10958.00 | ||||||
3/31/2013 | 10737.00 | 10986.00 | ||||||
4/30/2013 | 11122.00 | 11401.00 | ||||||
5/31/2013 | 10843.00 | 11148.00 | ||||||
6/30/2013 | 10366.00 | 10668.00 | ||||||
7/31/2013 | 10833.00 | 11137.00 | ||||||
8/31/2013 | 10685.00 | 10986.00 | ||||||
9/30/2013 | 11427.00 | 11752.00 | ||||||
10/31/2013 | 11818.00 | 12185.00 | ||||||
11/30/2013 | 11860.00 | 12208.00 | ||||||
12/31/2013 | 11946.00 | 12318.00 | ||||||
1/31/2014 | 11388.00 | 11760.00 | ||||||
2/28/2014 | 11999.00 | 12354.00 | ||||||
3/31/2014 | 12037.00 | 12393.00 |
Past performance is not a guarantee of future results.
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.
53
SPDR MSCI ACWI ex-US ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | ROCHE HOLDING AG | NESTLE SA | NOVARTIS AG | HSBC HOLDINGS PLC | TOYOTA MOTOR CORP. | |||||
MARKET VALUE | $7,359,461 | 6,649,952 | 6,170,487 | 5,925,228 | 5,210,221 | |||||
% OF NET ASSETS | 1.3 | 1.2 | 1.1 | 1.1 | 0.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 15.0 | % | ||||
Oil, Gas & Consumable Fuels | 9.4 | |||||
Pharmaceuticals | 7.8 | |||||
Insurance | 4.7 | |||||
Metals & Mining | 4.6 | |||||
Automobiles | 3.9 | |||||
Chemicals | 3.5 | |||||
Wireless Telecommunication Services | 2.7 | |||||
Food Products | 2.7 | |||||
Diversified Telecommunication Services | 2.6 | |||||
Semiconductors & Semiconductor Equipment | 2.5 | |||||
Beverages | 2.1 | |||||
Machinery | 2.0 | |||||
Food & Staples Retailing | 2.0 | |||||
Real Estate Management & Development | 1.8 | |||||
Media | 1.7 | |||||
Capital Markets | 1.7 | |||||
Road & Rail | 1.5 | |||||
Industrial Conglomerates | 1.4 | |||||
Textiles, Apparel & Luxury Goods | 1.4 | |||||
Electric Utilities | 1.3 | |||||
Tobacco | 1.3 | |||||
Diversified Financial Services | 1.3 | |||||
Multi-Utilities | 1.2 | |||||
Real Estate Investment Trusts | 1.2 | |||||
Electronic Equipment, Instruments & Components | 1.2 | |||||
Electrical Equipment | 1.1 | |||||
Hotels, Restaurants & Leisure | 1.1 | |||||
Construction & Engineering | 1.1 | |||||
Trading Companies & Distributors | 1.0 | |||||
Construction Materials | 0.8 | |||||
Building Products | 0.7 | |||||
Internet Software & Services | 0.7 | |||||
Auto Components | 0.6 | |||||
Transportation Infrastructure | 0.6 | |||||
Software | 0.6 | |||||
Multiline Retail | 0.6 | |||||
Aerospace & Defense | 0.5 | |||||
Gas Utilities | 0.5 | |||||
Household Durables | 0.5 | |||||
Specialty Retail | 0.5 | |||||
IT Services | 0.5 | |||||
Health Care Equipment & Supplies | 0.4 | |||||
Household Products | 0.4 | |||||
Technology Hardware, Storage & Peripherals | 0.4 | |||||
Professional Services | 0.4 | |||||
Marine | 0.4 | |||||
Commercial Services & Supplies | 0.4 | |||||
Personal Products | 0.4 | |||||
Independent Power & Renewable Electricity Producers | 0.3 | |||||
Air Freight & Logistics | 0.3 | |||||
Biotechnology | 0.3 | |||||
Communications Equipment | 0.3 | |||||
Containers & Packaging | 0.2 | |||||
Health Care Providers & Services | 0.2 | |||||
Water Utilities | 0.2 | |||||
Energy Equipment & Services | 0.2 | |||||
Paper & Forest Products | 0.2 | |||||
Consumer Finance | 0.1 | |||||
Airlines | 0.1 | |||||
Leisure Products | 0.1 | |||||
Short Term Investments | 5.9 | |||||
Other Assets & Liabilities | (5.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
54
SPDR MSCI ACWI IMI ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (2/27/12, 2/28/12, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR MSCI ACWI IMI ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.25%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | NET ASSET | MARKET | |||||||||||||||||||||
VALUE | VALUE | MSCI ACWI IMI INDEX | VALUE | VALUE | MSCI ACWI IMI INDEX | |||||||||||||||||||
SIX MONTHS | 8.73% | 9.73% | 8.67% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 17.32% | 18.65% | 17.11% | 17.32% | 18.65% | 17.11% | ||||||||||||||||||
SINCE INCEPTION (1) | 31.21% | 31.27% | 31.10% | 13.87% | 13.90% | 13.84% | ||||||||||||||||||
(1) | For the period February 27, 2012 to March 31, 2014. |
55
SPDR MSCI ACWI IMI ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR MSCI | MSCI ACWI | |||||||
ACWI IMI | IMI Index | |||||||
ETF (a) | (b) | |||||||
2/27/2012 | 10000.00 | 10000.00 | ||||||
2/29/2012 | 10016.00 | 10026.00 | ||||||
3/31/2012 | 10079.00 | 10090.00 | ||||||
4/30/2012 | 9967.00 | 9979.00 | ||||||
5/31/2012 | 9060.00 | 9085.00 | ||||||
6/30/2012 | 9496.00 | 9518.00 | ||||||
7/31/2012 | 9627.00 | 9630.00 | ||||||
8/31/2012 | 9842.00 | 9851.00 | ||||||
9/30/2012 | 10129.00 | 10170.00 | ||||||
10/31/2012 | 10080.00 | 10102.00 | ||||||
11/30/2012 | 10217.00 | 10228.00 | ||||||
12/31/2012 | 10471.00 | 10474.00 | ||||||
1/31/2013 | 10967.00 | 10968.00 | ||||||
2/28/2013 | 10972.00 | 10978.00 | ||||||
3/31/2013 | 11184.00 | 11195.00 | ||||||
4/30/2013 | 11474.00 | 11492.00 | ||||||
5/31/2013 | 11469.00 | 11477.00 | ||||||
6/30/2013 | 11155.00 | 11142.00 | ||||||
7/31/2013 | 11691.00 | 11690.00 | ||||||
8/31/2013 | 11459.00 | 11447.00 | ||||||
9/30/2013 | 12067.00 | 12065.00 | ||||||
10/31/2013 | 12528.00 | 12536.00 | ||||||
11/30/2013 | 12723.00 | 12716.00 | ||||||
12/31/2013 | 12922.00 | 12942.00 | ||||||
1/31/2014 | 12443.00 | 12461.00 | ||||||
2/28/2014 | 13056.00 | 13070.00 | ||||||
3/31/2014 | 13121.00 | 13117.00 |
Past performance is not a guarantee of future results.
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.
56
SPDR MSCI ACWI IMI ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | EXXON MOBIL CORP. | GOOGLE, INC. (CLASS A) | APPLE, INC. | MICROSOFT CORP. | WELLS FARGO & CO. | |||||
MARKET VALUE | $119,365 | 111,451 | 109,495 | 91,777 | 80,977 | |||||
% OF NET ASSETS | 0.9 | 0.9 | 0.9 | 0.7 | 0.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 8.5 | % | ||||
Oil, Gas & Consumable Fuels | 8.4 | |||||
Pharmaceuticals | 5.4 | |||||
Insurance | 4.4 | |||||
Media | 3.2 | |||||
Chemicals | 2.7 | |||||
Software | 2.5 | |||||
Real Estate Investment Trusts | 2.5 | |||||
Metals & Mining | 2.5 | |||||
Diversified Telecommunication Services | 2.5 | |||||
Food Products | 2.4 | |||||
Semiconductors & Semiconductor Equipment | 2.4 | |||||
Capital Markets | 2.2 | |||||
Food & Staples Retailing | 2.2 | |||||
Aerospace & Defense | 2.2 | |||||
Machinery | 2.1 | |||||
Biotechnology | 2.0 | |||||
Technology Hardware, Storage & Peripherals | 2.0 | |||||
Industrial Conglomerates | 1.9 | |||||
Hotels, Restaurants & Leisure | 1.8 | |||||
IT Services | 1.7 | |||||
Automobiles | 1.7 | |||||
Internet Software & Services | 1.6 | |||||
Electric Utilities | 1.6 | |||||
Energy Equipment & Services | 1.6 | |||||
Health Care Equipment & Supplies | 1.6 | |||||
Wireless Telecommunication Services | 1.4 | |||||
Specialty Retail | 1.4 | |||||
Beverages | 1.3 | |||||
Health Care Providers & Services | 1.3 | |||||
Electronic Equipment, Instruments & Components | 1.2 | |||||
Real Estate Management & Development | 1.2 | |||||
Road & Rail | 1.1 | |||||
Household Products | 1.1 | |||||
Electrical Equipment | 1.1 | |||||
Textiles, Apparel & Luxury Goods | 1.0 | |||||
Tobacco | 1.0 | |||||
Multiline Retail | 1.0 | |||||
Diversified Financial Services | 0.9 | |||||
Communications Equipment | 0.9 | |||||
Air Freight & Logistics | 0.7 | |||||
Construction & Engineering | 0.7 | |||||
Consumer Finance | 0.7 | |||||
Internet & Catalog Retail | 0.7 | |||||
Commercial Services & Supplies | 0.6 | |||||
Trading Companies & Distributors | 0.6 | |||||
Life Sciences Tools & Services | 0.6 | |||||
Multi-Utilities | 0.5 | |||||
Professional Services | 0.5 | |||||
Auto Components | 0.4 | |||||
Leisure Products | 0.4 | |||||
Building Products | 0.4 | |||||
Marine | 0.4 | |||||
Thrifts & Mortgage Finance | 0.4 | |||||
Construction Materials | 0.3 | |||||
Transportation Infrastructure | 0.2 | |||||
Household Durables | 0.2 | |||||
Water Utilities | 0.2 | |||||
Independent Power & Renewable Electricity Producers | 0.2 | |||||
Personal Products | 0.2 | |||||
Airlines | 0.1 | |||||
Paper & Forest Products | 0.1 | |||||
Gas Utilities | 0.1 | |||||
Containers & Packaging | 0.0 | *** | ||||
Short Term Investments | 20.1 | |||||
Other Assets & Liabilities | (18.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
57
SPDR MSCI EM 50 ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (2/27/12, 2/28/12, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR MSCI EM 50 ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | NET ASSET | MARKET | |||||||||||||||||||||
VALUE | VALUE | MSCI EM 50 INDEX | VALUE | VALUE | MSCI EM 50 INDEX | |||||||||||||||||||
SIX MONTHS | 0.63% | 0.95% | 0.82% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 2.25% | 1.57% | 2.62% | 2.25% | 1.57% | 2.62% | ||||||||||||||||||
SINCE INCEPTION (1) | −1.12% | −0.80% | 0.52% | −0.54% | −0.38% | 0.25% | ||||||||||||||||||
(1) | For the period February 27, 2012 to March 31, 2014. |
58
SPDR MSCI EM 50 ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR MSCI | MSCI EM | |||||||
EM 50 | 50 Index | |||||||
ETF | ||||||||
2/27/2012 | 10000.00 | 10000.00 | ||||||
2/29/2012 | 10188.00 | 10212.00 | ||||||
3/31/2012 | 9857.00 | 9878.00 | ||||||
4/30/2012 | 9788.00 | 9832.00 | ||||||
5/31/2012 | 8592.00 | 8667.00 | ||||||
6/30/2012 | 8913.00 | 8939.00 | ||||||
7/31/2012 | 9090.00 | 9152.00 | ||||||
8/31/2012 | 9025.00 | 9055.00 | ||||||
9/30/2012 | 9563.00 | 9641.00 | ||||||
10/31/2012 | 9532.00 | 9583.00 | ||||||
11/30/2012 | 9621.00 | 9693.00 | ||||||
12/31/2012 | 10087.00 | 10180.00 | ||||||
1/31/2013 | 10169.00 | 10261.00 | ||||||
2/28/2013 | 9982.00 | 10082.00 | ||||||
3/31/2013 | 9670.00 | 9795.00 | ||||||
4/30/2013 | 9717.00 | 9809.00 | ||||||
5/31/2013 | 9532.00 | 9630.00 | ||||||
6/30/2013 | 8934.00 | 9066.00 | ||||||
7/31/2013 | 9163.00 | 9277.00 | ||||||
8/31/2013 | 9175.00 | 9333.00 | ||||||
9/30/2013 | 9825.00 | 9970.00 | ||||||
10/31/2013 | 10230.00 | 10389.00 | ||||||
11/30/2013 | 10283.00 | 10439.00 | ||||||
12/31/2013 | 10121.00 | 10278.00 | ||||||
1/31/2014 | 9354.00 | 9563.00 | ||||||
2/28/2014 | 9726.00 | 9893.00 | ||||||
3/31/2014 | 9888.00 | 10051.00 |
Past performance is not a guarantee of future results.
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.
59
SPDR MSCI EM 50 ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TAIWAN | ||||||||||
SEMICONDUCTOR | ||||||||||
SAMSUNG ELECTRONICS | MANUFACTURING | TENCENT | CHINA CONSTRUCTION | |||||||
DESCRIPTION | CO., LTD. GDR | CO., LTD. ADR | HOLDINGS, LTD. | CHINA MOBILE, LTD. | BANK CORP. | |||||
MARKET VALUE | $468,605 | 331,972 | 243,424 | 186,308 | 170,210 | |||||
% OF NET ASSETS | 10.0 | 7.1 | 5.2 | 4.0 | 3.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 21.3 | % | ||||
Semiconductors & Semiconductor Equipment | 19.9 | |||||
Oil, Gas & Consumable Fuels | 16.2 | |||||
Wireless Telecommunication Services | 9.6 | |||||
Internet Software & Services | 6.6 | |||||
Media | 4.3 | |||||
Metals & Mining | 3.7 | |||||
Automobiles | 3.6 | |||||
Insurance | 3.5 | |||||
Electronic Equipment, Instruments & Components | 2.3 | |||||
Chemicals | 1.6 | |||||
Auto Components | 1.4 | |||||
Beverages | 1.3 | |||||
Construction Materials | 1.0 | |||||
Food & Staples Retailing | 1.0 | |||||
Food Products | 0.9 | |||||
Diversified Telecommunication Services | 0.9 | |||||
Real Estate Management & Development | 0.8 | |||||
Short Term Investments | 14.1 | |||||
Other Assets & Liabilities | (14.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
60
SPDR MSCI EM Beyond BRIC ETF —
Portfolio Summary
Portfolio Summary
The Fund had less than six months of operations at reporting period end and therefore does not have performance history to provide on this report.
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TAIWAN | ||||||||||
SEMICONDUCTOR | ||||||||||
SAMSUNG ELECTRONICS | MANUFACTURING CO., | AMERICA MOVIL SAB | ||||||||
DESCRIPTION | CO., LTD. GDR | LTD. ADR | NASPERS, LTD. | DE CV | MTN GROUP, LTD. | |||||
MARKET VALUE | $208,828 | 201,141 | 142,436 | 135,216 | 112,735 | |||||
% OF NET ASSETS | 3.4 | 3.3 | 2.3 | 2.2 | 1.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 20.5 | % | ||||
Semiconductors & Semiconductor Equipment | 9.6 | |||||
Wireless Telecommunication Services | 6.8 | |||||
Oil, Gas & Consumable Fuels | 5.4 | |||||
Metals & Mining | 4.7 | |||||
Media | 3.7 | |||||
Construction Materials | 3.2 | |||||
Food & Staples Retailing | 3.2 | |||||
Industrial Conglomerates | 3.0 | |||||
Electric Utilities | 2.8 | |||||
Food Products | 2.8 | |||||
Chemicals | 2.8 | |||||
Automobiles | 2.4 | |||||
Diversified Financial Services | 2.3 | |||||
Electronic Equipment, Instruments & Components | 2.3 | |||||
Insurance | 2.3 | |||||
Diversified Telecommunication Services | 1.9 | |||||
Beverages | 1.8 | |||||
Computers & Peripherals | 1.6 | |||||
Real Estate Management & Development | 1.2 | |||||
Pharmaceuticals | 1.0 | |||||
Construction & Engineering | 1.0 | |||||
Specialty Retail | 1.0 | |||||
Hotels, Restaurants & Leisure | 1.0 | |||||
Transportation Infrastructure | 0.9 | |||||
Auto Components | 0.9 | |||||
Multiline Retail | 0.8 | |||||
Household Products | 0.8 | |||||
Machinery | 0.8 | |||||
Real Estate Investment Trusts | 0.8 | |||||
Independent Power Producers & Energy Traders | 0.7 | |||||
Gas Utilities | 0.7 | |||||
Airlines | 0.7 | |||||
Household Durables | 0.7 | |||||
Health Care Providers & Services | 0.6 | |||||
Energy Equipment & Services | 0.6 | |||||
Tobacco | 0.5 | |||||
Internet Software & Services | 0.5 | |||||
Trading Companies & Distributors | 0.3 | |||||
Distributors | 0.3 | |||||
Capital Markets | 0.3 | |||||
Textiles, Apparel & Luxury Goods | 0.2 | |||||
Multi-Utilities | 0.2 | |||||
Consumer Finance | 0.1 | |||||
Software | 0.0 | *** | ||||
Short Term Investment | 2.0 | |||||
Other Assets & Liabilities | (1.7 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
61
SPDR Russell/Nomura PRIME Japan ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/9/06, 11/14/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Russell/Nomura PRIME Japan ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | RUSSELL/NOMURA | NET ASSET | MARKET | RUSSELL/NOMURA | |||||||||||||||||||
VALUE | VALUE | PRIME INDEX | VALUE | VALUE | PRIME INDEX | |||||||||||||||||||
SIX MONTHS | −2.95% | −3.87% | −2.80% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 7.44% | 6.00% | 8.19% | 7.44% | 6.00% | 8.19% | ||||||||||||||||||
THREE YEARS | 16.13% | 16.78% | 18.46% | 5.11% | 5.31% | 5.81% | ||||||||||||||||||
FIVE YEARS | 59.81% | 57.47% | 65.89% | 9.83% | 9.51% | 10.65% | ||||||||||||||||||
SINCE INCEPTION (1) | −3.52% | −3.94% | 0.83% | −0.48% | −0.54% | 0.11% | ||||||||||||||||||
(1) | For the period November 9, 2006 to March 31, 2014. |
62
SPDR Russell/Nomura PRIME Japan ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR Russell/Nomura | ||||||||
PRIME Japan | Russell/ Nomura | |||||||
ETF | PRIME Index | |||||||
10000.00 | 10000.00 | |||||||
11/9/2006 | 10321.00 | 10323.00 | ||||||
12/31/2006 | 10515.00 | 10520.00 | ||||||
1/31/2007 | 10606.00 | 10611.00 | ||||||
2/28/2007 | 11003.00 | 11025.00 | ||||||
3/31/2007 | 10859.00 | 10886.00 | ||||||
4/7/2007 | 10657.00 | 10688.00 | ||||||
5/7/2007 | 10800.00 | 10822.00 | ||||||
6/7/2007 | 10766.00 | 10803.00 | ||||||
7/31/2007 | 10718.00 | 10771.00 | ||||||
8/31/2007 | 10422.00 | 10451.00 | ||||||
9/30/2007 | 10619.00 | 10661.00 | ||||||
10/31/2007 | 10604.00 | 10666.00 | ||||||
11/30/2007 | 10408.00 | 10483.00 | ||||||
12/31/2007 | 9988.00 | 9921.00 | ||||||
1/31/2008 | 9546.00 | 9591.00 | ||||||
2/29/2008 | 9600.00 | 9650.00 | ||||||
3/31/2008 | 9284.00 | 9329.00 | ||||||
4/30/2008 | 9897.00 | 9944.00 | ||||||
5/31/2008 | 10161.00 | 10204.00 | ||||||
6/30/2008 | 9462.00 | 9520.00 | ||||||
7/31/2008 | 9152.00 | 9206.00 | ||||||
8/31/2008 | 8782.00 | 8844.00 | ||||||
9/30/2008 | 7807.00 | 7870.00 | ||||||
10/1/2008 | 6714.00 | 6767.00 | ||||||
11/2/2008 | 6691.00 | 6732.00 | ||||||
12/3/2008 | 7243.00 | 7322.00 | ||||||
1/9/2009 | 6746.00 | 6790.00 | ||||||
2/9/2009 | 5898.00 | 5943.00 | ||||||
3/9/2009 | 6037.00 | 6078.00 | ||||||
4/30/2009 | 6548.00 | 6609.00 | ||||||
5/31/2009 | 7239.00 | 7297.00 | ||||||
6/30/2009 | 7399.00 | 7467.00 | ||||||
7/9/2009 | 7654.00 | 7749.00 | ||||||
8/31/2009 | 7973.00 | 8074.00 | ||||||
9/30/2009 | 7852.00 | 7965.00 | ||||||
10/31/2009 | 7619.00 | 7741.00 | ||||||
11/30/2009 | 7531.00 | 7641.00 | ||||||
12/31/2009 | 7552.00 | 7693.00 | ||||||
1/31/2010 | 7698.00 | 7819.00 | ||||||
2/28/2010 | 7804.00 | 7923.00 | ||||||
3/31/2010 | 8189.00 | 8315.00 | ||||||
4/30/2010 | 8198.00 | 8329.00 | ||||||
5/31/2010 | 7552.00 | 7669.00 | ||||||
6/30/2010 | 7447.00 | 7553.00 | ||||||
7/31/2010 | 7675.00 | 7793.00 | ||||||
8/31/2010 | 7503.00 | 7626.00 | ||||||
9/30/2010 | 7841.00 | 7967.00 | ||||||
10/31/2010 | 7988.00 | 8104.00 | ||||||
11/30/2010 | 8127.00 | 8261.00 | ||||||
12/31/2010 | 8738.00 | 8841.00 | ||||||
1/31/2011 | 8736.00 | 8926.00 | ||||||
2/28/2011 | 9128.00 | 9327.00 | ||||||
3/31/2011 | 8308.00 | 8511.00 | ||||||
4/30/2011 | 8327.00 | 8498.00 | ||||||
5/31/2011 | 8190.00 | 8389.00 | ||||||
6/30/2011 | 8329.00 | 8550.00 | ||||||
7/31/2011 | 8631.00 | 8862.00 | ||||||
8/31/2011 | 7983.00 | 8199.00 | ||||||
9/30/2011 | 7885.00 | 8106.00 | ||||||
10/31/2011 | 7845.00 | 8060.00 | ||||||
11/30/2011 | 7507.00 | 7719.00 | ||||||
12/31/2011 | 7585.00 | 7793.00 | ||||||
1/31/2012 | 7903.00 | 8132.00 | ||||||
2/29/2012 | 8238.00 | 8478.00 | ||||||
3/31/2012 | 8361.00 | 8611.00 | ||||||
4/30/2012 | 8112.00 | 8294.00 | ||||||
5/31/2012 | 7394.00 | 7611.00 | ||||||
6/30/2012 | 7772.00 | 8003.00 | ||||||
7/31/2012 | 7584.00 | 7818.00 | ||||||
8/31/2012 | 7516.00 | 7757.00 | ||||||
9/30/2012 | 7700.00 | 7951.00 | ||||||
10/31/2012 | 7554.00 | 7796.00 | ||||||
11/30/2012 | 7690.00 | 7949.00 | ||||||
12/31/2012 | 8070.00 | 8371.00 | ||||||
1/31/2013 | 8348.00 | 8633.00 | ||||||
2/28/2013 | 8569.00 | 8865.00 | ||||||
3/31/2013 | 8980.00 | 9320.00 | ||||||
4/30/2013 | 9742.00 | 10111.00 | ||||||
5/31/2013 | 9157.00 | 9521.00 | ||||||
6/30/2013 | 9307.00 | 9672.00 | ||||||
7/31/2013 | 9357.00 | 9751.00 | ||||||
8/31/2013 | 9171.00 | 9554.00 | ||||||
9/30/2013 | 9942.00 | 10374.00 | ||||||
10/31/2013 | 9934.00 | 10368.00 | ||||||
11/30/2013 | 10075.00 | 10498.00 | ||||||
12/31/2013 | 10162.00 | 10597.00 | ||||||
1/31/2014 | 9812.00 | 10239.00 | ||||||
2/28/2014 | 9743.00 | 10166.00 | ||||||
3/31/2014 | 9648.00 | 10083.00 |
Past performance is not a guarantee of future results.
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.
63
SPDR Russell/Nomura PRIME Japan ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
MITSUBISHI UFJ | SUMITOMO MITSUI | HONDA MOTOR | ||||||||
DESCRIPTION | TOYOTA MOTOR CORP. | FINANCIAL GROUP, INC. | SOFTBANK CORP. | FINANCIAL GROUP, INC. | CO., LTD. | |||||
MARKET VALUE | $5,135,377 | 3,175,662 | 2,689,877 | 2,568,724 | 2,486,794 | |||||
% OF NET ASSETS | 3.9 | 2.4 | 2.1 | 2.0 | 1.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 9.3 | % | ||||
Automobiles | 8.5 | |||||
Machinery | 5.9 | |||||
Electronic Equipment, Instruments & Components | 5.9 | |||||
Pharmaceuticals | 5.3 | |||||
Wireless Telecommunication Services | 4.0 | |||||
Chemicals | 3.9 | |||||
Road & Rail | 3.9 | |||||
Trading Companies & Distributors | 3.9 | |||||
Real Estate Management & Development | 3.6 | |||||
Auto Components | 3.3 | |||||
Household Durables | 2.5 | |||||
Insurance | 2.2 | |||||
Technology Hardware, Storage & Peripherals | 2.2 | |||||
Electrical Equipment | 2.0 | |||||
Metals & Mining | 2.0 | |||||
Food & Staples Retailing | 1.8 | |||||
Capital Markets | 1.7 | |||||
Construction & Engineering | 1.6 | |||||
Diversified Telecommunication Services | 1.5 | |||||
Specialty Retail | 1.5 | |||||
Electric Utilities | 1.5 | |||||
Leisure Products | 1.2 | |||||
Building Products | 1.2 | |||||
Beverages | 1.2 | |||||
Food Products | 1.2 | |||||
Tobacco | 1.1 | |||||
Commercial Services & Supplies | 1.1 | |||||
Personal Products | 1.0 | |||||
IT Services | 0.9 | |||||
Semiconductors & Semiconductor Equipment | 0.9 | |||||
Software | 0.8 | |||||
Gas Utilities | 0.8 | |||||
Industrial Conglomerates | 0.8 | |||||
Oil, Gas & Consumable Fuels | 0.8 | |||||
Health Care Equipment & Supplies | 0.8 | |||||
Diversified Financial Services | 0.7 | |||||
Media | 0.7 | |||||
Multiline Retail | 0.7 | |||||
Internet Software & Services | 0.6 | |||||
Health Care Providers & Services | 0.5 | |||||
Textiles, Apparel & Luxury Goods | 0.5 | |||||
Internet & Catalog Retail | 0.4 | |||||
Airlines | 0.4 | |||||
Hotels, Restaurants & Leisure | 0.4 | |||||
Consumer Finance | 0.4 | |||||
Marine | 0.3 | |||||
Air Freight & Logistics | 0.3 | |||||
Transportation Infrastructure | 0.2 | |||||
Construction Materials | 0.2 | |||||
Paper & Forest Products | 0.2 | |||||
Household Products | 0.2 | |||||
Professional Services | 0.2 | |||||
Diversified Consumer Services | 0.1 | |||||
Independent Power & Renewable Electricity Producers | 0.1 | |||||
Containers & Packaging | 0.1 | |||||
Distributors | 0.1 | |||||
Biotechnology | 0.1 | |||||
Technology Hardware & Equipment | 0.0 | *** | ||||
Health Care Technology | 0.0 | *** | ||||
Life Sciences Tools & Services | 0.0 | *** | ||||
Communications Equipment | 0.0 | *** | ||||
Short Term Investments | 10.9 | |||||
Other Assets & Liabilities | (10.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less then 0.05% of net assets. |
64
SPDR Russell/Nomura Small Cap Japan ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/9/06, 11/14/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Russell/Nomura Small Cap Japan ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.55%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
RUSSELL/NOMURA | RUSSELL/NOMURA | |||||||||||||||||||||||
NET ASSET | MARKET | JAPAN SMALL CAP | NET ASSET | MARKET | JAPAN SMALL CAP | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | −2.84% | −3.55% | −1.57% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 4.08% | 2.88% | 7.68% | 4.08% | 2.88% | 7.68% | ||||||||||||||||||
THREE YEARS | 21.32% | 21.04% | 28.47% | 6.65% | 6.57% | 8.71% | ||||||||||||||||||
FIVE YEARS | 78.04% | 74.81% | 89.98% | 12.23% | 11.82% | 13.70% | ||||||||||||||||||
SINCE INCEPTION (1) | 14.55% | 13.95% | 23.55% | 1.86% | 1.78% | 2.90% | ||||||||||||||||||
(1) | For the period November 9, 2006 to March 31, 2014. |
65
SPDR Russell/Nomura Small Cap Japan ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR Russell/ | ||||||||
Nomura Small | Russell/ Nomura | |||||||
Cap Japan | Japan Small | |||||||
ETF | Cap Index | |||||||
10000.00 | 10000.00 | |||||||
11/9/2006 | 10421.00 | 10352.00 | ||||||
12/31/2006 | 10437.00 | 10359.00 | ||||||
1/31/2007 | 10616.00 | 10518.00 | ||||||
2/28/2007 | 11009.00 | 10854.00 | ||||||
3/31/2007 | 10935.00 | 10738.00 | ||||||
4/30/2007 | 10680.00 | 10511.00 | ||||||
5/31/2007 | 10437.00 | 10302.00 | ||||||
6/30/2007 | 10449.00 | 10378.00 | ||||||
7/31/2007 | 10447.00 | 10379.00 | ||||||
8/31/2007 | 9970.00 | 9893.00 | ||||||
9/30/2007 | 9943.00 | 9923.00 | ||||||
10/31/2007 | 10046.00 | 10088.00 | ||||||
11/30/2007 | 9760.00 | 9806.00 | ||||||
12/31/2007 | 9229.00 | 9164.00 | ||||||
1/31/2008 | 8783.00 | 8903.00 | ||||||
2/29/2008 | 8869.00 | 8995.00 | ||||||
3/31/2008 | 8927.00 | 9026.00 | ||||||
4/30/2008 | 9077.00 | 9166.00 | ||||||
5/31/2008 | 9384.00 | 9429.00 | ||||||
6/30/2008 | 8852.00 | 8897.00 | ||||||
7/31/2008 | 8560.00 | 8648.00 | ||||||
8/31/2008 | 8245.00 | 8304.00 | ||||||
9/30/2008 | 7472.00 | 7533.00 | ||||||
10/1/2008 | 6769.00 | 6800.00 | ||||||
11/2/2008 | 7049.00 | 7079.00 | ||||||
12/3/2008 | 7582.00 | 7681.00 | ||||||
1/9/2009 | 7138.00 | 7209.00 | ||||||
2/9/2009 | 6186.00 | 6248.00 | ||||||
3/9/2009 | 6434.00 | 6503.00 | ||||||
4/30/2009 | 6812.00 | 6899.00 | ||||||
5/31/2009 | 7652.00 | 7764.00 | ||||||
6/30/2009 | 8131.00 | 8246.00 | ||||||
7/9/2009 | 8316.00 | 8437.00 | ||||||
8/31/2009 | 8799.00 | 8933.00 | ||||||
9/30/2009 | 8694.00 | 8855.00 | ||||||
10/31/2009 | 8344.00 | 8541.00 | ||||||
11/30/2009 | 8080.00 | 8243.00 | ||||||
12/31/2009 | 7968.00 | 8131.00 | ||||||
1/31/2010 | 8180.00 | 8297.00 | ||||||
2/28/2010 | 8340.00 | 8467.00 | ||||||
3/31/2010 | 8717.00 | 8867.00 | ||||||
4/30/2010 | 8938.00 | 9159.00 | ||||||
5/31/2010 | 8276.00 | 8526.00 | ||||||
6/30/2010 | 8448.00 | 8557.00 | ||||||
7/31/2010 | 8520.00 | 8628.00 | ||||||
8/31/2010 | 8311.00 | 8405.00 | ||||||
9/30/2010 | 8658.00 | 8741.00 | ||||||
10/31/2010 | 8557.00 | 8597.00 | ||||||
11/30/2010 | 8712.00 | 8810.00 | ||||||
12/31/2010 | 9529.00 | 9602.00 | ||||||
1/31/2011 | 9652.00 | 9812.00 | ||||||
2/28/2011 | 10062.00 | 10247.00 | ||||||
3/31/2011 | 9443.00 | 9617.00 | ||||||
4/30/2011 | 9401.00 | 9542.00 | ||||||
5/31/2011 | 9267.00 | 9453.00 | ||||||
6/30/2011 | 9623.00 | 9818.00 | ||||||
7/31/2011 | 10024.00 | 10239.00 | ||||||
8/31/2011 | 9623.00 | 9850.00 | ||||||
9/30/2011 | 9711.00 | 9928.00 | ||||||
10/31/2011 | 9396.00 | 9574.00 | ||||||
11/30/2011 | 9177.00 | 9336.00 | ||||||
12/31/2011 | 9262.00 | 9481.00 | ||||||
1/31/2012 | 9641.00 | 9930.00 | ||||||
2/29/2012 | 9735.00 | 10034.00 | ||||||
3/31/2012 | 9970.00 | 10336.00 | ||||||
4/30/2012 | 9764.00 | 10065.00 | ||||||
5/31/2012 | 8978.00 | 9276.00 | ||||||
6/30/2012 | 9357.00 | 9720.00 | ||||||
7/31/2012 | 9199.00 | 9564.00 | ||||||
8/31/2012 | 9177.00 | 9517.00 | ||||||
9/30/2012 | 9415.00 | 9768.00 | ||||||
10/31/2012 | 9167.00 | 9524.00 | ||||||
11/30/2012 | 9233.00 | 9607.00 | ||||||
12/31/2012 | 9560.00 | 10029.00 | ||||||
1/31/2013 | 9933.00 | 10372.00 | ||||||
2/28/2013 | 10215.00 | 10691.00 | ||||||
3/31/2013 | 11006.00 | 11474.00 | ||||||
4/30/2013 | 11818.00 | 12317.00 | ||||||
5/31/2013 | 10855.00 | 11438.00 | ||||||
6/30/2013 | 10722.00 | 11317.00 | ||||||
7/31/2013 | 10885.00 | 11550.00 | ||||||
8/31/2013 | 10677.00 | 11348.00 | ||||||
9/30/2013 | 11791.00 | 12554.00 | ||||||
10/31/2013 | 11745.00 | 12526.00 | ||||||
11/30/2013 | 11640.00 | 12476.00 | ||||||
12/31/2013 | 11706.00 | 12572.00 | ||||||
1/31/2014 | 11705.00 | 12551.00 | ||||||
2/28/2014 | 11388.00 | 12268.00 | ||||||
3/31/2014 | 11455.00 | 12355.00 |
Past performance is not a guarantee of future results.
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.
66
SPDR Russell/Nomura Small Cap Japan ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
TOKAI TOKYO | COCA-COLA EAST | NIPPON PAPER | KURODA ELECTRIC | |||||||
DESCRIPTION | MINEBEA CO., LTD. | FINANCIAL HOLDINGS, INC. | JAPAN CO., LTD. | INDUSTRIES CO., LTD. | CO., LTD. | |||||
MARKET VALUE | $472,438 | 468,557 | 457,717 | 423,052 | 412,132 | |||||
% OF NET ASSETS | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF March 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Machinery | 7.8 | % | ||||
Banks | 7.0 | |||||
Auto Components | 5.3 | |||||
Chemicals | 5.2 | |||||
Electronic Equipment, Instruments & Components | 5.1 | |||||
Construction & Engineering | 4.6 | |||||
Specialty Retail | 4.0 | |||||
Trading Companies & Distributors | 3.5 | |||||
Food Products | 2.9 | |||||
Hotels, Restaurants & Leisure | 2.9 | |||||
Metals & Mining | 2.9 | |||||
Media | 2.8 | |||||
Building Products | 2.7 | |||||
Capital Markets | 2.3 | |||||
Pharmaceuticals | 2.2 | |||||
Food & Staples Retailing | 2.0 | |||||
Software | 2.0 | |||||
IT Services | 2.0 | |||||
Textiles, Apparel & Luxury Goods | 2.0 | |||||
Real Estate Management & Development | 1.9 | |||||
Commercial Services & Supplies | 1.8 | |||||
Household Durables | 1.7 | |||||
Semiconductors & Semiconductor Equipment | 1.7 | |||||
Personal Products | 1.6 | |||||
Health Care Equipment & Supplies | 1.6 | |||||
Electrical Equipment | 1.5 | |||||
Road & Rail | 1.3 | |||||
Diversified Financial Services | 1.1 | |||||
Transportation Infrastructure | 1.1 | |||||
Leisure Products | 1.1 | |||||
Health Care Providers & Services | 1.0 | |||||
Beverages | 1.0 | |||||
Containers & Packaging | 1.0 | |||||
Consumer Finance | 1.0 | |||||
Paper & Forest Products | 1.0 | |||||
Professional Services | 0.9 | |||||
Communications Equipment | 0.9 | |||||
Technology Hardware, Storage & Peripherals | 0.9 | |||||
Multiline Retail | 0.8 | |||||
Internet Software & Services | 0.7 | |||||
Internet & Catalog Retail | 0.6 | |||||
Biotechnology | 0.5 | |||||
Energy Equipment & Services | 0.5 | |||||
Air Freight & Logistics | 0.4 | |||||
Health Care Technology | 0.3 | |||||
Distributors | 0.3 | |||||
Life Sciences Tools & Services | 0.3 | |||||
Electric Utilities | 0.3 | |||||
Gas Utilities | 0.2 | |||||
Oil, Gas & Consumable Fuels | 0.2 | |||||
Industrial Conglomerates | 0.2 | |||||
Marine | 0.2 | |||||
Construction Materials | 0.1 | |||||
Airlines | 0.0 | *** | ||||
Short Term Investments | 18.7 | |||||
Other Assets & Liabilities | (17.6 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for K.K. daVinci Holdings and Suruga Corp., which were both Level 2 and part of the Real Estate Management & Development Industry, both representing 0.00% of net assets. (Note 2) | |
*** | Amount shown represents less then 0.05% of net assets. |
67
SPDR S&P Global Dividend ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/29/13, 5/30/13, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Global Dividend ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.40%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P GLOBAL DIVIDEND | NET ASSET | MARKET | S&P GLOBAL DIVIDEND | |||||||||||||||||||
VALUE | VALUE | ARISTOCRATS INDEX | VALUE | VALUE | ARISTOCRATS INDEX | |||||||||||||||||||
SIX MONTHS | 7.22% | 7.45% | 7.22% | N/A | N/A | N/A | ||||||||||||||||||
SINCE INCEPTION (1) | 14.30% | 14.44% | 14.36% | N/A | N/A | N/A | ||||||||||||||||||
(1) | For the period May 29, 2013 to March 31, 2014. |
68
SPDR S&P Global Dividend ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Global | |||||||
Global Dividend | Dividend Aristocrats | |||||||
ETF (a) | Index (b) | |||||||
10000.00 | 10000.00 | |||||||
5/31/2013 | 9899.00 | 9895.00 | ||||||
6/30/2013 | 9692.00 | 9692.00 | ||||||
7/31/2013 | 10183.00 | 10188.00 | ||||||
8/31/2013 | 9999.00 | 10002.00 | ||||||
9/30/2013 | 10661.00 | 10666.00 | ||||||
10/31/2013 | 11021.00 | 11027.00 | ||||||
11/30/2013 | 10867.00 | 10869.00 | ||||||
12/31/2013 | 11038.00 | 11039.00 | ||||||
1/31/2014 | 10682.00 | 10690.00 | ||||||
2/28/2014 | 11222.00 | 11228.00 | ||||||
3/31/2014 | 11430.00 | 11436.00 |
Past performance is not a guarantee of future results.
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.
69
SPDR S&P Global Dividend ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
EDP-ENERGIAS DE | ZIJIN MINING GROUP | |||||||||
DESCRIPTION | TELE2 AB | �� | GDF SUEZ | PORTUGAL SA | CO., LTD. (CLASS H) | NEOPOST SA | ||||
MARKET VALUE | $372,324 | 326,904 | 254,549 | 248,020 | 236,293 | |||||
% OF NET ASSETS | 2.2 | 2.0 | 1.5 | 1.5 | 1.4 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Electric Utilities | 14.2 | % | ||||
Multi-Utilities | 8.8 | |||||
Real Estate Investment Trusts | 6.8 | |||||
Banks | 6.8 | |||||
Wireless Telecommunication Services | 5.9 | |||||
Oil, Gas & Consumable Fuels | 5.2 | |||||
Construction & Engineering | 4.5 | |||||
Insurance | 4.5 | |||||
Real Estate Management & Development | 3.7 | |||||
Food & Staples Retailing | 3.5 | |||||
Specialty Retail | 3.2 | |||||
Gas Utilities | 3.2 | |||||
Diversified Telecommunication Services | 3.0 | |||||
Pharmaceuticals | 2.9 | |||||
Transportation Infrastructure | 2.7 | |||||
Metals & Mining | 2.3 | |||||
Technology Hardware, Storage & Peripherals | 2.2 | |||||
Tobacco | 2.0 | |||||
Thrifts & Mortgage Finance | 1.9 | |||||
Media | 1.7 | |||||
Food Products | 1.3 | |||||
Personal Products | 1.1 | |||||
Electronic Equipment, Instruments & Components | 1.0 | |||||
Health Care Providers & Services | 1.0 | |||||
Professional Services | 1.0 | |||||
Aerospace & Defense | 0.9 | |||||
Commercial Services & Supplies | 0.9 | |||||
Beverages | 0.9 | |||||
Hotels, Restaurants & Leisure | 0.9 | |||||
Machinery | 0.8 | |||||
Short Term Investments | 17.5 | |||||
Other Assets & Liabilities | (17.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
70
SPDR S&P International Dividend ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (2/12/08, 2/19/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Dividend ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.45%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P INTERNATIONAL | S&P INTERNATIONAL | |||||||||||||||||||||||
DIVIDEND | DIVIDEND | |||||||||||||||||||||||
NET ASSET | MARKET | OPPORTUNITIES | NET ASSET | MARKET | OPPORTUNITIES | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | 5.98% | 5.96% | 6.57% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 7.57% | 7.21% | 8.89% | 7.57% | 7.21% | 8.89% | ||||||||||||||||||
THREE YEARS | 0.62% | 0.30% | 4.03% | 0.21% | 0.10% | 1.33% | ||||||||||||||||||
FIVE YEARS | 114.79% | 114.03% | 129.18% | 16.52% | 16.44% | 18.04% | ||||||||||||||||||
SINCE INCEPTION (1) | −0.30% | −0.12% | 6.02% | −0.05% | −0.02% | 0.96% | ||||||||||||||||||
(1) | For the period February 12, 2008 to March 31, 2014. |
71
SPDR S&P International Dividend ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P International | |||||||
International Dividend | Dividend Opportunities | |||||||
ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
2/12/2008 | 10577.00 | 10510.00 | ||||||
3/31/2008 | 10431.00 | 10373.00 | ||||||
4/30/2008 | 10433.00 | 10393.00 | ||||||
5/31/2008 | 10267.00 | 10264.00 | ||||||
6/30/2008 | 9265.00 | 9239.00 | ||||||
7/31/2008 | 8833.00 | 8827.00 | ||||||
8/31/2008 | 8777.00 | 8776.00 | ||||||
9/30/2008 | 7307.00 | 7289.00 | ||||||
10/31/2008 | 5256.00 | 5236.00 | ||||||
11/30/2008 | 4889.00 | 4870.00 | ||||||
12/31/2008 | 5261.00 | 5246.00 | ||||||
1/31/2009 | 4577.00 | 4577.00 | ||||||
2/28/2009 | 4093.00 | 4084.00 | ||||||
3/31/2009 | 4642.00 | 4627.00 | ||||||
4/30/2009 | 5828.00 | 5841.00 | ||||||
5/31/2009 | 6734.00 | 6769.00 | ||||||
6/30/2009 | 6623.00 | 6662.00 | ||||||
7/31/2009 | 7306.00 | 7372.00 | ||||||
8/31/2009 | 7784.00 | 7861.00 | ||||||
9/30/2009 | 8320.00 | 8419.00 | ||||||
10/31/2009 | 8254.00 | 8356.00 | ||||||
11/30/2009 | 8522.00 | 8631.00 | ||||||
12/31/2009 | 8704.00 | 8823.00 | ||||||
1/31/2010 | 8351.00 | 8475.00 | ||||||
2/28/2010 | 8255.00 | 8380.00 | ||||||
3/31/2010 | 8712.00 | 8857.00 | ||||||
4/30/2010 | 8589.00 | 8742.00 | ||||||
5/31/2010 | 7585.00 | 7725.00 | ||||||
6/30/2010 | 7528.00 | 7672.00 | ||||||
7/31/2010 | 8248.00 | 8430.00 | ||||||
8/31/2010 | 8029.00 | 8211.00 | ||||||
9/30/2010 | 8931.00 | 9144.00 | ||||||
10/31/2010 | 9334.00 | 9562.00 | ||||||
11/30/2010 | 8611.00 | 8825.00 | ||||||
12/31/2010 | 9322.00 | 9567.00 | ||||||
1/31/2011 | 9451.00 | 9671.00 | ||||||
2/28/2011 | 9676.00 | 9909.00 | ||||||
3/31/2011 | 9910.00 | 10193.00 | ||||||
4/30/2011 | 10749.00 | 11031.00 | ||||||
5/31/2011 | 10327.00 | 10616.00 | ||||||
6/30/2011 | 10104.00 | 10386.00 | ||||||
7/31/2011 | 9646.00 | 9966.00 | ||||||
8/31/2011 | 8999.00 | 9293.00 | ||||||
9/30/2011 | 7943.00 | 8199.00 | ||||||
10/31/2011 | 8769.00 | 9054.00 | ||||||
11/30/2011 | 8374.00 | 8654.00 | ||||||
12/31/2011 | 8264.00 | 8549.00 | ||||||
1/31/2012 | 8668.00 | 8944.00 | ||||||
2/29/2012 | 9109.00 | 9425.00 | ||||||
3/31/2012 | 8908.00 | 9219.00 | ||||||
4/30/2012 | 8648.00 | 8951.00 | ||||||
5/31/2012 | 7552.00 | 7822.00 | ||||||
6/30/2012 | 8239.00 | 8544.00 | ||||||
7/31/2012 | 7995.00 | 8296.00 | ||||||
8/31/2012 | 8361.00 | 8683.00 | ||||||
9/30/2012 | 8534.00 | 8868.00 | ||||||
10/31/2012 | 8532.00 | 8870.00 | ||||||
11/30/2012 | 8573.00 | 8918.00 | ||||||
12/31/2012 | 8975.00 | 9345.00 | ||||||
1/31/2013 | 9330.00 | 9775.00 | ||||||
2/28/2013 | 9156.00 | 9598.00 | ||||||
3/31/2013 | 9269.00 | 9736.00 | ||||||
4/30/2013 | 9602.00 | 10101.00 | ||||||
5/31/2013 | 9130.00 | 9614.00 | ||||||
6/30/2013 | 8696.00 | 9175.00 | ||||||
7/31/2013 | 8907.00 | 9410.00 | ||||||
8/31/2013 | 8773.00 | 9266.00 | ||||||
9/30/2013 | 9408.00 | 9948.00 | ||||||
10/31/2013 | 9736.00 | 10300.00 | ||||||
11/30/2013 | 9525.00 | 10082.00 | ||||||
12/31/2013 | 9660.00 | 10239.00 | ||||||
1/31/2014 | 9194.00 | 9764.00 | ||||||
2/28/2014 | 9770.00 | 10378.00 | ||||||
3/31/2014 | 9970.00 | 10602.00 |
Past performance is not a guarantee of future results.
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.
72
SPDR S&P International Dividend ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
PROSIEBENSAT.1 | ||||||||||
DESCRIPTION | MEDIA AG | BELGACOM SA | FERROVIAL SA | WORLEYPARSONS, LTD. | ASTRAZENECA PLC | |||||
MARKET VALUE | $38,679,869 | 31,457,309 | 30,331,848 | 28,742,191 | 26,357,377 | |||||
% OF NET ASSETS | 2.8 | 2.3 | 2.2 | 2.1 | 1.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Diversified Telecommunication Services | 13.5 | % | ||||
Oil, Gas & Consumable Fuels | 12.5 | |||||
Electric Utilities | 9.6 | |||||
Real Estate Investment Trusts | 9.1 | |||||
Banks | 9.1 | |||||
Construction & Engineering | 6.3 | |||||
Insurance | 4.8 | |||||
Wireless Telecommunication Services | 3.9 | |||||
Chemicals | 3.0 | |||||
Gas Utilities | 2.8 | |||||
Media | 2.8 | |||||
Pharmaceuticals | 2.5 | |||||
Metals & Mining | 2.5 | |||||
Transportation Infrastructure | 2.4 | |||||
Multi-Utilities | 2.1 | |||||
Energy Equipment & Services | 2.1 | |||||
Machinery | 1.7 | |||||
Food & Staples Retailing | 1.2 | |||||
Hotels, Restaurants & Leisure | 1.0 | |||||
Diversified Financial Services | 1.0 | |||||
Aerospace & Defense | 1.0 | |||||
Construction Materials | 0.9 | |||||
Multiline Retail | 0.9 | |||||
Software | 0.6 | |||||
Computers & Peripherals | 0.6 | |||||
Textiles, Apparel & Luxury Goods | 0.6 | |||||
Automobiles | 0.6 | |||||
Real Estate Management & Development | 0.5 | |||||
Short Term Investments | 15.6 | |||||
Other Assets & Liabilities | (15.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
73
SPDR S&P International Mid Cap ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/7/08, 5/13/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
��
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Mid Cap ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.45%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
EX-U.S. BETWEEN | EX-U.S. BETWEEN | |||||||||||||||||||||||
USD2 BILLION AND | USD2 BILLION AND | |||||||||||||||||||||||
NET ASSET | MARKET | USD5 BILLION | NET ASSET | MARKET | USD5 BILLION | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | 7.41% | 6.46% | 7.59% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 18.41% | 16.81% | 19.03% | 18.41% | 16.81% | 19.03% | ||||||||||||||||||
THREE YEARS | 23.32% | 22.28% | 24.38% | 7.24% | 6.93% | 7.54% | ||||||||||||||||||
FIVE YEARS | 133.51% | 131.78% | 147.32% | 18.48% | 18.31% | 19.86% | ||||||||||||||||||
SINCE INCEPTION (1) | 22.79% | 22.35% | 26.19% | 3.54% | 3.48% | 4.02% | ||||||||||||||||||
(1) | For the period May 7, 2008 to March 31, 2014. |
74
SPDR S&P International Mid Cap ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
Ex-U.S. between | ||||||||
SPDR S&P | USD2 Billion | |||||||
International Mid | and USD5 | |||||||
Cap ETF | Billion Index | |||||||
(a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
5/7/2008 | 10042.00 | 10041.00 | ||||||
6/30/2008 | 9351.00 | 9309.00 | ||||||
7/31/2008 | 8917.00 | 8876.00 | ||||||
8/31/2008 | 8587.00 | 8572.00 | ||||||
9/30/2008 | 7346.00 | 7241.00 | ||||||
10/1/2008 | 5570.00 | 5462.00 | ||||||
11/2/2008 | 5400.00 | 5254.00 | ||||||
12/3/2008 | 5775.00 | 5632.00 | ||||||
1/9/2009 | 5371.00 | 5217.00 | ||||||
2/9/2009 | 4901.00 | 4693.00 | ||||||
3/9/2009 | 5258.00 | 5103.00 | ||||||
4/30/2009 | 5924.00 | 5836.00 | ||||||
5/31/2009 | 6611.00 | 6536.00 | ||||||
6/30/2009 | 6717.00 | 6622.00 | ||||||
7/9/2009 | 7159.00 | 7132.00 | ||||||
8/31/2009 | 7561.00 | 7577.00 | ||||||
9/30/2009 | 7851.00 | 7940.00 | ||||||
10/31/2009 | 7582.00 | 7681.00 | ||||||
11/30/2009 | 7680.00 | 7820.00 | ||||||
12/31/2009 | 7847.00 | 7968.00 | ||||||
1/31/2010 | 7664.00 | 7776.00 | ||||||
2/28/2010 | 7688.00 | 7776.00 | ||||||
3/31/2010 | 8279.00 | 8342.00 | ||||||
4/30/2010 | 8399.00 | 8444.00 | ||||||
5/31/2010 | 7457.00 | 7520.00 | ||||||
6/30/2010 | 7428.00 | 7486.00 | ||||||
7/31/2010 | 8041.00 | 8104.00 | ||||||
8/31/2010 | 7868.00 | 7932.00 | ||||||
9/30/2010 | 8723.00 | 8819.00 | ||||||
10/31/2010 | 9024.00 | 9137.00 | ||||||
11/30/2010 | 8808.00 | 8902.00 | ||||||
12/31/2010 | 9628.00 | 9759.00 | ||||||
1/31/2011 | 9766.00 | 9873.00 | ||||||
2/28/2011 | 9959.00 | 10083.00 | ||||||
3/31/2011 | 9956.00 | 10145.00 | ||||||
4/30/2011 | 10463.00 | 10651.00 | ||||||
5/31/2011 | 10197.00 | 10422.00 | ||||||
6/30/2011 | 10083.00 | 10293.00 | ||||||
7/31/2011 | 10042.00 | 10264.00 | ||||||
8/31/2011 | 9179.00 | 9396.00 | ||||||
9/30/2011 | 8200.00 | 8378.00 | ||||||
10/31/2011 | 8855.00 | 9065.00 | ||||||
11/30/2011 | 8414.00 | 8596.00 | ||||||
12/31/2011 | 8314.00 | 8475.00 | ||||||
1/31/2012 | 8890.00 | 9042.00 | ||||||
2/29/2012 | 9371.00 | 9515.00 | ||||||
3/31/2012 | 9348.00 | 9487.00 | ||||||
4/30/2012 | 9261.00 | 9392.00 | ||||||
5/31/2012 | 8239.00 | 8337.00 | ||||||
6/30/2012 | 8655.00 | 8773.00 | ||||||
7/31/2012 | 8752.00 | 8863.00 | ||||||
8/31/2012 | 8955.00 | 9046.00 | ||||||
9/30/2012 | 9289.00 | 9402.00 | ||||||
10/31/2012 | 9290.00 | 9442.00 | ||||||
11/30/2012 | 9396.00 | 9549.00 | ||||||
12/31/2012 | 9783.00 | 9926.00 | ||||||
1/31/2013 | 10092.00 | 10276.00 | ||||||
2/28/2013 | 10203.00 | 10388.00 | ||||||
3/31/2013 | 10370.00 | 10602.00 | ||||||
4/30/2013 | 10834.00 | 11087.00 | ||||||
5/31/2013 | 10497.00 | 10776.00 | ||||||
6/30/2013 | 10210.00 | 10476.00 | ||||||
7/31/2013 | 10715.00 | 10993.00 | ||||||
8/31/2013 | 10604.00 | 10869.00 | ||||||
9/30/2013 | 11432.00 | 11729.00 | ||||||
10/31/2013 | 11771.00 | 12069.00 | ||||||
11/30/2013 | 11806.00 | 12107.00 | ||||||
12/31/2013 | 11982.00 | 12319.00 | ||||||
1/31/2014 | 11661.00 | 11991.00 | ||||||
2/28/2014 | 12245.00 | 12621.00 | ||||||
3/31/2014 | 12279.00 | 12619.00 |
Past performance is not a guarantee of future results.
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.
75
SPDR S&P International Mid Cap ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
NAMCO BANDAI | TOKYO TATEMONO | |||||||||
DESCRIPTION | TAKASHIMAYA CO., LTD. | HOLDINGS, INC. | SHIMADZU CORP. | RINNAI CORP. | CO., LTD. | |||||
MARKET VALUE | $319,581 | 303,640 | 302,743 | 299,442 | 292,178 | |||||
% OF NET ASSETS | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 5.8 | % | ||||
Chemicals | 4.9 | |||||
Oil, Gas & Consumable Fuels | 4.5 | |||||
Real Estate Management & Development | 4.0 | |||||
Machinery | 3.9 | |||||
Real Estate Investment Trusts | 3.9 | |||||
Media | 3.8 | |||||
Metals & Mining | 3.1 | |||||
Insurance | 3.0 | |||||
Household Durables | 2.7 | |||||
Food Products | 2.6 | |||||
Hotels, Restaurants & Leisure | 2.6 | |||||
Capital Markets | 2.6 | |||||
Construction & Engineering | 2.4 | |||||
Energy Equipment & Services | 2.1 | |||||
Electronic Equipment, Instruments & Components | 2.1 | |||||
Road & Rail | 2.1 | |||||
Health Care Providers & Services | 2.0 | |||||
Diversified Telecommunication Services | 2.0 | |||||
Multiline Retail | 2.0 | |||||
Pharmaceuticals | 2.0 | |||||
Commercial Services & Supplies | 2.0 | |||||
Specialty Retail | 1.7 | |||||
Software | 1.6 | |||||
Diversified Financial Services | 1.5 | |||||
Electrical Equipment | 1.5 | |||||
Auto Components | 1.4 | |||||
Construction Materials | 1.3 | |||||
Leisure Products | 1.2 | |||||
Electric Utilities | 1.2 | |||||
Transportation Infrastructure | 1.2 | |||||
Industrial Conglomerates | 1.2 | |||||
Food & Staples Retailing | 1.2 | |||||
Trading Companies & Distributors | 1.1 | |||||
IT Services | 1.0 | |||||
Professional Services | 1.0 | |||||
Technology Hardware, Storage & Peripherals | 1.0 | |||||
Aerospace & Defense | 1.0 | |||||
Health Care Equipment & Supplies | 1.0 | |||||
Containers & Packaging | 1.0 | |||||
Paper & Forest Products | 0.9 | |||||
Consumer Finance | 0.9 | |||||
Textiles, Apparel & Luxury Goods | 0.9 | |||||
Gas Utilities | 0.8 | |||||
Semiconductors & Semiconductor Equipment | 0.6 | |||||
Marine | 0.6 | |||||
Multi-Utilities | 0.6 | |||||
Independent Power & Renewable Electricity Producers | 0.5 | |||||
Air Freight & Logistics | 0.5 | |||||
Internet Software & Services | 0.5 | |||||
Distributors | 0.4 | |||||
Beverages | 0.4 | |||||
Diversified Consumer Services | 0.3 | |||||
Internet & Catalog Retail | 0.3 | |||||
Building Products | 0.3 | |||||
Wireless Telecommunication Services | 0.3 | |||||
Automobiles | 0.3 | |||||
Biotechnology | 0.3 | |||||
Water Utilities | 0.3 | |||||
Personal Products | 0.2 | |||||
Health Care Technology | 0.2 | |||||
Thrifts & Mortgage Finance | 0.2 | |||||
Airlines | 0.2 | |||||
Life Sciences Tools & Services | 0.1 | |||||
Household Products | 0.1 | |||||
Communications Equipment | 0.1 | |||||
Short Term Investments | 13.5 | |||||
Other Assets & Liabilities | (12.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
76
SPDR S&P Emerging Markets Small Cap ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/12/08, 5/16/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Emerging Markets Small Cap ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.65%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P EMERGING | S&P EMERGING | |||||||||||||||||||||||
NET ASSET | MARKET | MARKETS UNDER USD2 | NET ASSET | MARKET | MARKETS UNDER USD2 | |||||||||||||||||||
VALUE | VALUE | BILLION INDEX | VALUE | VALUE | BILLION INDEX | |||||||||||||||||||
SIX MONTHS | 4.49% | 5.80% | 5.35% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 1.89% | 1.25% | 2.71% | 1.89% | 1.25% | 2.71% | ||||||||||||||||||
THREE YEARS | −2.67% | −2.80% | 0.57% | −0.90% | −0.94% | 0.19% | ||||||||||||||||||
FIVE YEARS | 121.12% | 121.10% | 149.34% | 17.20% | 17.20% | 20.05% | ||||||||||||||||||
SINCE INCEPTION (1) | 6.32% | 6.19% | 22.32% | 1.05% | 1.02% | 3.48% | ||||||||||||||||||
(1) | For the period May 12, 2008 to March 31, 2014. |
77
SPDR S&P Emerging Markets Small Cap ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Emerging | |||||||
Emerging Markets | Markets Under | |||||||
Small Cap | USD2 Billion | |||||||
ETF (a) | Index (b) | |||||||
10000.00 | 10000.00 | |||||||
5/12/2008 | 9836.00 | 9863.00 | ||||||
6/30/2008 | 8629.00 | 8648.00 | ||||||
7/31/2008 | 8394.00 | 8454.00 | ||||||
8/31/2008 | 7948.00 | 7961.00 | ||||||
9/30/2008 | 6252.00 | 6372.00 | ||||||
10/1/2008 | 4594.00 | 4696.00 | ||||||
11/2/2008 | 4320.00 | 4380.00 | ||||||
12/3/2008 | 4681.00 | 4795.00 | ||||||
1/9/2009 | 4357.00 | 4473.00 | ||||||
2/9/2009 | 4267.00 | 4369.00 | ||||||
3/9/2009 | 4809.00 | 4906.00 | ||||||
4/30/2009 | 5785.00 | 5893.00 | ||||||
5/31/2009 | 7034.00 | 7211.00 | ||||||
6/30/2009 | 7021.00 | 7239.00 | ||||||
7/9/2009 | 7878.00 | 8144.00 | ||||||
8/31/2009 | 7828.00 | 8150.00 | ||||||
9/30/2009 | 8468.00 | 8839.00 | ||||||
10/31/2009 | 8472.00 | 8863.00 | ||||||
11/30/2009 | 8820.00 | 9291.00 | ||||||
12/31/2009 | 9389.00 | 9941.00 | ||||||
1/31/2010 | 8962.00 | 9512.00 | ||||||
2/28/2010 | 8947.00 | 9484.00 | ||||||
3/31/2010 | 9656.00 | 10347.00 | ||||||
4/30/2010 | 9894.00 | 10597.00 | ||||||
5/31/2010 | 8905.00 | 9534.00 | ||||||
6/30/2010 | 9031.00 | 9593.00 | ||||||
7/31/2010 | 9760.00 | 10401.00 | ||||||
8/31/2010 | 9705.00 | 10439.00 | ||||||
9/30/2010 | 10759.00 | 11644.00 | ||||||
10/31/2010 | 11078.00 | 12063.00 | ||||||
11/30/2010 | 10920.00 | 11887.00 | ||||||
12/31/2010 | 11516.00 | 12640.00 | ||||||
1/31/2011 | 11026.00 | 12199.00 | ||||||
2/28/2011 | 10538.00 | 11755.00 | ||||||
3/31/2011 | 10925.00 | 12164.00 | ||||||
4/30/2011 | 11427.00 | 12721.00 | ||||||
5/31/2011 | 11206.00 | 12446.00 | ||||||
6/30/2011 | 10896.00 | 12118.00 | ||||||
7/31/2011 | 11020.00 | 12260.00 | ||||||
8/31/2011 | 9831.00 | 10937.00 | ||||||
9/30/2011 | 8246.00 | 9235.00 | ||||||
10/31/2011 | 9032.00 | 10079.00 | ||||||
11/30/2011 | 8268.00 | 9222.00 | ||||||
12/31/2011 | 8150.00 | 9116.00 | ||||||
1/31/2012 | 9156.00 | 10229.00 | ||||||
2/29/2012 | 9991.00 | 11225.00 | ||||||
3/31/2012 | 9721.00 | 10921.00 | ||||||
4/30/2012 | 9527.00 | 10735.00 | ||||||
5/31/2012 | 8656.00 | 9792.00 | ||||||
6/30/2012 | 8891.00 | 10039.00 | ||||||
7/31/2012 | 8933.00 | 10065.00 | ||||||
8/31/2012 | 9050.00 | 10220.00 | ||||||
9/30/2012 | 9573.00 | 10818.00 | ||||||
10/31/2012 | 9367.00 | 10611.00 | ||||||
11/30/2012 | 9579.00 | 10889.00 | ||||||
12/31/2012 | 10125.00 | 11502.00 | ||||||
1/31/2013 | 10476.00 | 11892.00 | ||||||
2/28/2013 | 10470.00 | 11929.00 | ||||||
3/31/2013 | 10435.00 | 11910.00 | ||||||
4/30/2013 | 10662.00 | 12128.00 | ||||||
5/31/2013 | 10671.00 | 12177.00 | ||||||
6/30/2013 | 9833.00 | 11240.00 | ||||||
7/31/2013 | 9887.00 | 11282.00 | ||||||
8/31/2013 | 9613.00 | 10967.00 | ||||||
9/30/2013 | 10176.00 | 11611.00 | ||||||
10/31/2013 | 10595.00 | 12121.00 | ||||||
11/30/2013 | 10372.00 | 11886.00 | ||||||
12/31/2013 | 10378.00 | 11911.00 | ||||||
1/31/2014 | 9925.00 | 11416.00 | ||||||
2/28/2014 | 10373.00 | 11962.00 | ||||||
3/31/2014 | 10632.00 | 12232.00 |
Past performance is not a guarantee of future results.
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.
78
SPDR S&P Emerging Markets Small Cap ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
WUXI PHARMATECH | ||||||||||
DESCRIPTION | MEGAWORLD CORP. | CAYMAN, INC. ADR | MONDI, LTD. | DIALOG GROUP BHD | JSE, LTD. | |||||
MARKET VALUE | $3,333,500 | 3,159,787 | 3,035,767 | 3,002,078 | 2,861,699 | |||||
% OF NET ASSETS | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Real Estate Management & Development | 9.0 | % | ||||
Semiconductors & Semiconductor Equipment | 6.1 | |||||
Electronic Equipment, Instruments & Components | 4.9 | |||||
Chemicals | 4.9 | |||||
Food Products | 4.3 | |||||
Metals & Mining | 4.2 | |||||
Banks | 4.1 | |||||
Construction & Engineering | 3.2 | |||||
Hotels, Restaurants & Leisure | 2.8 | |||||
Pharmaceuticals | 2.7 | |||||
Textiles, Apparel & Luxury Goods | 2.6 | |||||
Household Durables | 2.6 | |||||
Technology Hardware, Storage & Peripherals | 2.3 | |||||
Electrical Equipment | 2.3 | |||||
Auto Components | 2.2 | |||||
Diversified Financial Services | 2.1 | |||||
Marine | 2.1 | |||||
Health Care Providers & Services | 2.0 | |||||
Industrial Conglomerates | 1.9 | |||||
Machinery | 1.9 | |||||
Oil, Gas & Consumable Fuels | 1.9 | |||||
Capital Markets | 1.9 | |||||
Media | 1.5 | |||||
Transportation Infrastructure | 1.3 | |||||
Communications Equipment | 1.3 | |||||
Software | 1.3 | |||||
Specialty Retail | 1.3 | |||||
Automobiles | 1.2 | |||||
Multiline Retail | 1.2 | |||||
Real Estate Investment Trusts | 1.1 | |||||
Paper & Forest Products | 1.1 | |||||
Diversified Telecommunication Services | 1.0 | |||||
Construction Materials | 1.0 | |||||
Food & Staples Retailing | 1.0 | |||||
Internet Software & Services | 0.9 | |||||
Electric Utilities | 0.9 | |||||
Thrifts & Mortgage Finance | 0.8 | |||||
Consumer Finance | 0.7 | |||||
Airlines | 0.7 | |||||
Energy Equipment & Services | 0.7 | |||||
Trading Companies & Distributors | 0.6 | |||||
Beverages | 0.6 | |||||
Health Care Equipment & Supplies | 0.6 | |||||
IT Services | 0.6 | |||||
Independent Power & Renewable Electricity Producers | 0.5 | |||||
Containers & Packaging | 0.5 | |||||
Tobacco | 0.5 | |||||
Personal Products | 0.5 | |||||
Air Freight & Logistics | 0.4 | |||||
Commercial Services & Supplies | 0.4 | |||||
Water Utilities | 0.4 | |||||
Insurance | 0.4 | |||||
Leisure Products | 0.3 | |||||
Gas Utilities | 0.3 | |||||
Internet & Catalog Retail | 0.3 | |||||
Wireless Telecommunication Services | 0.3 | |||||
Building Products | 0.2 | |||||
Professional Services | 0.2 | |||||
Life Sciences Tools & Services | 0.2 | |||||
Biotechnology | 0.2 | |||||
Distributors | 0.2 | |||||
Household Products | 0.1 | |||||
Diversified Consumer Services | 0.1 | |||||
Road & Rail | 0.0 | *** | ||||
Short Term Investments | 6.0 | |||||
Other Assets & Liabilities | (5.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Corporacion GEO SAB de CV, which was Level 3 and part of the Household Durables Industry, China Hongxing Sports, Ltd., which was Level 3 and part of the Textiles, Apparel & Luxury Goods Industry, China Forestry Holdings, Ltd., which was Level 3 and part of the Paper & Forest Products Industry, China High Precision Automation Group, Ltd., which was Level 2 and part of the Electronic Equipment, Instruments & Components Industry, Real Gold Mining, Ltd., which was Level 3 and part of the Metals & Mining Industry, Urbi Desarrollos Urbanos SA de CV, which was Level 3 and part of the Household Durables Industry, China Metal Recycling Holdings, Ltd., which was Level 3 and part of the Metals & Mining Industry, Boshiwa International Holding, Ltd., which was Level 3 and part of the Specialty Retail Industry, Bakrieland Development Tbk PT, which was Level 2 and part of the Real Estate Management & Development Industry, each representing 0.00% of net assets, and Boryszew SA, which was Level 2 and part of the Chemicals Industry, representing 0.05% of net assets. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
79
SPDR Dow Jones Global Real Estate ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/7/08, 5/13/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Dow Jones Global Real Estate ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES GLOBAL | DOW JONES GLOBAL | |||||||||||||||||||||||
SELECT REAL | SELECT REAL | |||||||||||||||||||||||
NET ASSET | MARKET | ESTATE | NET ASSET | MARKET | ESTATE | |||||||||||||||||||
VALUE | VALUE | SECURITIES INDEX | VALUE | VALUE | SECURITIES INDEX | |||||||||||||||||||
SIX MONTHS | 4.89% | 4.80% | 4.78% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 2.34% | 2.27% | 2.06% | 2.34% | 2.27% | 2.06% | ||||||||||||||||||
THREE YEARS | 27.71% | 27.56% | 27.33% | 8.49% | 8.45% | 8.38% | ||||||||||||||||||
FIVE YEARS | 191.97% | 190.51% | 190.27% | 23.90% | 23.77% | 23.76% | ||||||||||||||||||
SINCE INCEPTION (1) | 14.72% | 14.96% | 12.79% | 2.35% | 2.39% | 2.06% | ||||||||||||||||||
(1) | For the period May 7, 2008 to March 31, 2014. |
80
SPDR Dow Jones Global Real Estate ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
Dow Jones | ||||||||
SPDR Dow | Global Select | |||||||
Jones Global | Real Estate | |||||||
Real Estate | Securities Index | |||||||
ETF (a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
5/7/2008 | 9840.00 | 9836.00 | ||||||
6/30/2008 | 8746.00 | 8722.00 | ||||||
7/31/2008 | 8791.00 | 8769.00 | ||||||
8/31/2008 | 8670.00 | 8637.00 | ||||||
9/30/2008 | 8011.00 | 7955.00 | ||||||
10/31/2008 | 5669.00 | 5618.00 | ||||||
11/30/2008 | 4734.00 | 4689.00 | ||||||
12/31/2008 | 5217.00 | 5160.00 | ||||||
1/31/2009 | 4510.00 | 4463.00 | ||||||
2/28/2009 | 3726.00 | 3687.00 | ||||||
3/31/2009 | 3930.00 | 3886.00 | ||||||
4/30/2009 | 4771.00 | 4719.00 | ||||||
5/31/2009 | 5216.00 | 5156.00 | ||||||
6/30/2009 | 5187.00 | 5131.00 | ||||||
7/31/2009 | 5700.00 | 5648.00 | ||||||
8/31/2009 | 6339.00 | 6271.00 | ||||||
9/30/2009 | 6732.00 | 6660.00 | ||||||
10/31/2009 | 6557.00 | 6486.00 | ||||||
11/30/2009 | 6732.00 | 6665.00 | ||||||
12/31/2009 | 6997.00 | 6919.00 | ||||||
1/31/2010 | 6662.00 | 6580.00 | ||||||
2/28/2010 | 6857.00 | 6776.00 | ||||||
3/31/2010 | 7354.00 | 7258.00 | ||||||
4/30/2010 | 7655.00 | 7554.00 | ||||||
5/31/2010 | 7037.00 | 6954.00 | ||||||
6/30/2010 | 6844.00 | 6753.00 | ||||||
7/31/2010 | 7537.00 | 7444.00 | ||||||
8/31/2010 | 7528.00 | 7430.00 | ||||||
9/30/2010 | 8058.00 | 7959.00 | ||||||
10/31/2010 | 8437.00 | 8333.00 | ||||||
11/30/2010 | 8105.00 | 7999.00 | ||||||
12/31/2010 | 8666.00 | 8568.00 | ||||||
1/31/2011 | 8805.00 | 8684.00 | ||||||
2/28/2011 | 9117.00 | 8983.00 | ||||||
3/31/2011 | 8984.00 | 8857.00 | ||||||
4/30/2011 | 9513.00 | 9382.00 | ||||||
5/31/2011 | 9558.00 | 9423.00 | ||||||
6/30/2011 | 9338.00 | 9205.00 | ||||||
7/31/2011 | 9376.00 | 9249.00 | ||||||
8/31/2011 | 8852.00 | 8728.00 | ||||||
9/30/2011 | 7833.00 | 7709.00 | ||||||
10/31/2011 | 8756.00 | 8617.00 | ||||||
11/30/2011 | 8335.00 | 8199.00 | ||||||
12/31/2011 | 8434.00 | 8289.00 | ||||||
1/31/2012 | 9039.00 | 8904.00 | ||||||
2/29/2012 | 9216.00 | 9093.00 | ||||||
3/31/2012 | 9506.00 | 9362.00 | ||||||
4/30/2012 | 9731.00 | 9583.00 | ||||||
5/31/2012 | 9166.00 | 9015.00 | ||||||
6/30/2012 | 9733.00 | 9570.00 | ||||||
7/31/2012 | 10036.00 | 9873.00 | ||||||
8/31/2012 | 10048.00 | 9886.00 | ||||||
9/30/2012 | 10071.00 | 9919.00 | ||||||
10/31/2012 | 10159.00 | 10007.00 | ||||||
11/30/2012 | 10204.00 | 10057.00 | ||||||
12/31/2012 | 10545.00 | 10396.00 | ||||||
1/31/2013 | 10826.00 | 10676.00 | ||||||
2/28/2013 | 10925.00 | 10786.00 | ||||||
3/31/2013 | 11210.00 | 11052.00 | ||||||
4/30/2013 | 11992.00 | 11825.00 | ||||||
5/31/2013 | 11097.00 | 10949.00 | ||||||
6/30/2013 | 10814.00 | 10656.00 | ||||||
7/31/2013 | 10918.00 | 10759.00 | ||||||
8/31/2013 | 10351.00 | 10193.00 | ||||||
9/30/2013 | 10938.00 | 10765.00 | ||||||
10/31/2013 | 11304.00 | 11129.00 | ||||||
11/30/2013 | 10860.00 | 10688.00 | ||||||
12/31/2013 | 10838.00 | 10664.00 | ||||||
1/31/2014 | 10902.00 | 10727.00 | ||||||
2/28/2014 | 11422.00 | 11237.00 | ||||||
3/31/2014 | 11472.00 | 11279.00 |
Past performance is not a guarantee of future results.
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.
81
SPDR Dow Jones Global Real Estate ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
BROOKFIELD ASSET | ||||||||||
SIMON PROPERTY | MITSUI FUDOSAN | MANAGEMENT, INC. | ||||||||
DESCRIPTION | GROUP, INC. | CO., LTD. | UNIBAIL-RODAMCO SE | PUBLIC STORAGE | (CLASS A) | |||||
MARKET VALUE | $64,505,464 | 33,634,995 | 31,564,406 | 30,446,985 | 29,011,151 | |||||
% OF NET ASSETS | 5.9 | 3.1 | 2.9 | 2.8 | 2.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Retail REITs | 26.5 | % | ||||
Real Estate Management & Development | 16.6 | |||||
Specialized REITs | 15.0 | |||||
Office REITs | 13.8 | |||||
Diversified REITs | 11.9 | |||||
Residential REITs | 10.1 | |||||
Industrial REITs | 5.3 | |||||
Diversified Capital Markets | 0.4 | |||||
Short Term Investments | 5.6 | |||||
Other Assets & Liabilities | (5.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs, except for Martinsa-Fadesa SA, which was Level 2 and part of the Real Estate Management & Development Industry, representing 0.00% of net assets. (Note 2) |
82
SPDR S&P International Consumer Discretionary Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Consumer Discretionary Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
EX-U.S. BMI | EX-U.S. BMI | |||||||||||||||||||||||
CONSUMER | CONSUMER | |||||||||||||||||||||||
NET ASSET | MARKET | DISCRETIONARY | NET ASSET | MARKET | DISCRETIONARY | |||||||||||||||||||
VALUE | VALUE | SECTOR INDEX | VALUE | VALUE | SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 3.97% | 2.72% | 4.26% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 22.80% | 23.11% | 23.17% | 22.80% | 23.11% | 23.17% | ||||||||||||||||||
THREE YEARS | 44.19% | 45.34% | 43.39% | 12.97% | 13.27% | 12.76% | ||||||||||||||||||
FIVE YEARS | 167.28% | 165.82% | 174.42% | 21.73% | 21.60% | 22.38% | ||||||||||||||||||
SINCE INCEPTION (1) | 72.56% | 72.86% | 72.54% | 10.03% | 10.06% | 10.03% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
83
SPDR S&P International Consumer Discretionary Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Consumer | Consumer Discertionary | |||||||
Discretionary Sector | Sector Index | |||||||
ETF (a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10235.00 | 10251.00 | ||||||
8/31/2008 | 10027.00 | 10047.00 | ||||||
9/30/2008 | 8771.00 | 8725.00 | ||||||
10/1/2008 | 7407.00 | 7187.00 | ||||||
11/2/2008 | 6560.00 | 6384.00 | ||||||
12/3/2008 | 6969.00 | 6788.00 | ||||||
1/9/2009 | 6485.00 | 6309.00 | ||||||
2/9/2009 | 6029.00 | 5887.00 | ||||||
3/9/2009 | 6455.00 | 6289.00 | ||||||
4/30/2009 | 7801.00 | 7544.00 | ||||||
5/31/2009 | 8238.00 | 8059.00 | ||||||
6/30/2009 | 8221.00 | 8066.00 | ||||||
7/9/2009 | 9099.00 | 8967.00 | ||||||
8/31/2009 | 9376.00 | 9223.00 | ||||||
9/30/2009 | 9682.00 | 9547.00 | ||||||
10/31/2009 | 9537.00 | 9449.00 | ||||||
11/30/2009 | 9573.00 | 9478.00 | ||||||
12/31/2009 | 9918.00 | 9797.00 | ||||||
1/31/2010 | 9636.00 | 9531.00 | ||||||
2/28/2010 | 9475.00 | 9385.00 | ||||||
3/31/2010 | 10245.00 | 10129.00 | ||||||
4/30/2010 | 10330.00 | 10278.00 | ||||||
5/31/2010 | 9334.00 | 9279.00 | ||||||
6/30/2010 | 9285.00 | 9198.00 | ||||||
7/31/2010 | 10042.00 | 9951.00 | ||||||
8/31/2010 | 9753.00 | 9683.00 | ||||||
9/30/2010 | 10952.00 | 10896.00 | ||||||
10/31/2010 | 11347.00 | 11316.00 | ||||||
11/30/2010 | 11258.00 | 11213.00 | ||||||
12/31/2010 | 11944.00 | 11934.00 | ||||||
1/31/2011 | 12153.00 | 12123.00 | ||||||
2/28/2011 | 12349.00 | 12367.00 | ||||||
3/31/2011 | 11967.00 | 12033.00 | ||||||
4/30/2011 | 12833.00 | 12893.00 | ||||||
5/31/2011 | 12710.00 | 12772.00 | ||||||
6/30/2011 | 12857.00 | 12887.00 | ||||||
7/31/2011 | 12696.00 | 12778.00 | ||||||
8/31/2011 | 11419.00 | 11485.00 | ||||||
9/30/2011 | 10369.00 | 10375.00 | ||||||
10/31/2011 | 11333.00 | 11334.00 | ||||||
11/30/2011 | 10671.00 | 10661.00 | ||||||
12/31/2011 | 10447.00 | 10422.00 | ||||||
1/31/2012 | 11360.00 | 11315.00 | ||||||
2/29/2012 | 12167.00 | 12108.00 | ||||||
3/31/2012 | 12407.00 | 12305.00 | ||||||
4/30/2012 | 12291.00 | 12216.00 | ||||||
5/31/2012 | 11009.00 | 10913.00 | ||||||
6/30/2012 | 11363.00 | 11303.00 | ||||||
7/31/2012 | 11406.00 | 11352.00 | ||||||
8/31/2012 | 11744.00 | 11654.00 | ||||||
9/30/2012 | 11860.00 | 11795.00 | ||||||
10/31/2012 | 11951.00 | 11887.00 | ||||||
11/30/2012 | 12488.00 | 12415.00 | ||||||
12/31/2012 | 13018.00 | 12951.00 | ||||||
1/31/2013 | 13644.00 | 13584.00 | ||||||
2/28/2013 | 13720.00 | 13725.00 | ||||||
3/31/2013 | 14052.00 | 14009.00 | ||||||
4/30/2013 | 14678.00 | 14671.00 | ||||||
5/31/2013 | 14938.00 | 14876.00 | ||||||
6/30/2013 | 14672.00 | 14617.00 | ||||||
7/31/2013 | 15593.00 | 15534.00 | ||||||
8/31/2013 | 15332.00 | 15310.00 | ||||||
9/30/2013 | 16598.00 | 16550.00 | ||||||
10/31/2013 | 17013.00 | 16973.00 | ||||||
11/30/2013 | 17256.00 | 17197.00 | ||||||
12/31/2013 | 17453.00 | 17416.00 | ||||||
1/31/2014 | 16827.00 | 16822.00 | ||||||
2/28/2014 | 17389.00 | 17416.00 | ||||||
3/31/2014 | 17256.00 | 17254.00 |
Past performance is not a guarantee of future results.
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.
84
SPDR S&P International Consumer Discretionary Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
HONDA MOTOR | CIE FINANCIERE | LVMH MOET HENNESSY | ||||||||
DESCRIPTION | TOYOTA MOTOR CORP. | DAIMLER AG | CO., LTD. | RICHEMONT SA | LOUIS VUITTON SA | |||||
MARKET VALUE | $1,335,084 | 796,072 | 479,899 | 438,935 | 420,642 | |||||
% OF NET ASSETS | 6.8 | 4.1 | 2.4 | 2.2 | 2.1 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF March 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Automobiles | 27.2 | % | ||||
Media | 14.6 | |||||
Hotels, Restaurants & Leisure | 13.9 | |||||
Auto Components | 11.1 | |||||
Textiles, Apparel & Luxury Goods | 11.1 | |||||
Specialty Retail | 8.1 | |||||
Household Durables | 5.7 | |||||
Multiline Retail | 4.0 | |||||
Leisure Products | 1.8 | |||||
Internet & Catalog Retail | 0.9 | |||||
Diversified Consumer Services | 0.4 | |||||
Distributors | 0.3 | |||||
Short Term Investments | 3.1 | |||||
Other Assets & Liabilities | (2.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
85
SPDR S&P International Consumer Staples Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Consumer Staples Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
EX-U.S. BMI | EX-U.S. BMI | |||||||||||||||||||||||
NET ASSET | MARKET | CONSUMER STAPLES | NET ASSET | MARKET | CONSUMER STAPLES | |||||||||||||||||||
VALUE | VALUE | SECTOR INDEX | VALUE | VALUE | SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 3.17% | 3.32% | 4.21% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 5.37% | 5.04% | 6.93% | 5.37% | 5.04% | 6.93% | ||||||||||||||||||
THREE YEARS | 38.93% | 38.84% | 43.98% | 11.58% | 11.56% | 12.92% | ||||||||||||||||||
FIVE YEARS | 134.08% | 134.72% | 148.92% | 18.54% | 18.61% | 20.01% | ||||||||||||||||||
SINCE INCEPTION (1) | 65.52% | 65.95% | 78.71% | 9.23% | 9.28% | 10.71% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
86
SPDR S&P International Consumer Staples Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Consumer | Consumer Staples | |||||||
Staples Sector | Sector Index | |||||||
ETF (a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10258.00 | 10267.00 | ||||||
8/31/2008 | 10127.00 | 10158.00 | ||||||
9/30/2008 | 9430.00 | 9468.00 | ||||||
10/1/2008 | 8001.00 | 8060.00 | ||||||
11/2/2008 | 7752.00 | 7755.00 | ||||||
12/3/2008 | 8171.00 | 8240.00 | ||||||
1/9/2009 | 7562.00 | 7669.00 | ||||||
2/9/2009 | 6954.00 | 7044.00 | ||||||
3/9/2009 | 7070.00 | 7180.00 | ||||||
4/30/2009 | 7456.00 | 7597.00 | ||||||
5/31/2009 | 8354.00 | 8508.00 | ||||||
6/30/2009 | 8504.00 | 8696.00 | ||||||
7/9/2009 | 9175.00 | 9408.00 | ||||||
8/31/2009 | 9443.00 | 9685.00 | ||||||
9/30/2009 | 9852.00 | 10149.00 | ||||||
10/31/2009 | 10126.00 | 10423.00 | ||||||
11/30/2009 | 10361.00 | 10669.00 | ||||||
12/31/2009 | 10599.00 | 10890.00 | ||||||
1/31/2010 | 10396.00 | 10676.00 | ||||||
2/28/2010 | 10475.00 | 10738.00 | ||||||
3/31/2010 | 10835.00 | 11137.00 | ||||||
4/30/2010 | 10677.00 | 11005.00 | ||||||
5/31/2010 | 9734.00 | 10076.00 | ||||||
6/30/2010 | 9987.00 | 10346.00 | ||||||
7/31/2010 | 10540.00 | 10927.00 | ||||||
8/31/2010 | 10540.00 | 10939.00 | ||||||
9/30/2010 | 11416.00 | 11875.00 | ||||||
10/31/2010 | 11691.00 | 12127.00 | ||||||
11/30/2010 | 11170.00 | 11607.00 | ||||||
12/31/2010 | 11865.00 | 12349.00 | ||||||
1/31/2011 | 11574.00 | 12071.00 | ||||||
2/28/2011 | 11938.00 | 12399.00 | ||||||
3/31/2011 | 11914.00 | 12413.00 | ||||||
4/30/2011 | 12878.00 | 13433.00 | ||||||
5/31/2011 | 12975.00 | 13566.00 | ||||||
6/30/2011 | 12723.00 | 13320.00 | ||||||
7/31/2011 | 12805.00 | 13424.00 | ||||||
8/31/2011 | 12364.00 | 12955.00 | ||||||
9/30/2011 | 11653.00 | 12192.00 | ||||||
10/31/2011 | 12488.00 | 13011.00 | ||||||
11/30/2011 | 12259.00 | 12774.00 | ||||||
12/31/2011 | 12332.00 | 12844.00 | ||||||
1/31/2012 | 12273.00 | 12818.00 | ||||||
2/29/2012 | 12924.00 | 13488.00 | ||||||
3/31/2012 | 13259.00 | 13877.00 | ||||||
4/30/2012 | 13354.00 | 14015.00 | ||||||
5/31/2012 | 12332.00 | 12961.00 | ||||||
6/30/2012 | 13028.00 | 13699.00 | ||||||
7/31/2012 | 13448.00 | 14123.00 | ||||||
8/31/2012 | 13785.00 | 14508.00 | ||||||
9/30/2012 | 13927.00 | 14686.00 | ||||||
10/31/2012 | 13875.00 | 14687.00 | ||||||
11/30/2012 | 14300.00 | 15125.00 | ||||||
12/31/2012 | 14285.00 | 15150.00 | ||||||
1/31/2013 | 14955.00 | 15881.00 | ||||||
2/28/2013 | 15190.00 | 16147.00 | ||||||
3/31/2013 | 15709.00 | 16713.00 | ||||||
4/30/2013 | 16244.00 | 17315.00 | ||||||
5/31/2013 | 15450.00 | 16471.00 | ||||||
6/30/2013 | 15042.00 | 16041.00 | ||||||
7/31/2013 | 15597.00 | 16650.00 | ||||||
8/31/2013 | 15194.00 | 16232.00 | ||||||
9/30/2013 | 16044.00 | 17150.00 | ||||||
10/31/2013 | 16473.00 | 17650.00 | ||||||
11/30/2013 | 16380.00 | 17556.00 | ||||||
12/31/2013 | 16489.00 | 17704.00 | ||||||
1/31/2014 | 15554.00 | 16780.00 | ||||||
2/28/2014 | 16492.00 | 17786.00 | ||||||
3/31/2014 | 16552.00 | 17871.00 |
Past performance is not a guarantee of future results.
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.
87
SPDR S&P International Consumer Staples Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
BRITISH AMERICAN | ANHEUSER-BUSCH | |||||||||
DESCRIPTION | NESTLE SA | TOBACCO PLC | INBEV NV | DIAGEO PLC | UNILEVER NV | |||||
MARKET VALUE | $5,589,793 | 2,415,491 | 1,953,165 | 1,822,417 | 1,702,947 | |||||
% OF NET ASSETS | 14.8 | 6.4 | 5.2 | 4.8 | 4.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Food Products | 34.7 | % | ||||
Food & Staples Retailing | 20.4 | |||||
Beverages | 19.2 | |||||
Tobacco | 11.9 | |||||
Household Products | 7.0 | |||||
Personal Products | 6.0 | |||||
Short Term Investments | 5.0 | |||||
Other Assets & Liabilities | (4.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
88
SPDR S&P International Energy Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Energy Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
NET ASSET | MARKET | EX-U.S. BMI ENERGY | NET ASSET | MARKET | EX-U.S. BMI ENERGY | |||||||||||||||||||
VALUE | VALUE | SECTOR INDEX | VALUE | VALUE | SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 7.47% | 7.84% | 7.99% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 12.72% | 13.48% | 13.69% | 12.72% | 13.48% | 13.69% | ||||||||||||||||||
THREE YEARS | −3.10% | −2.76% | −1.20% | −1.04% | −0.93% | −0.40% | ||||||||||||||||||
FIVE YEARS | 66.07% | 68.05% | 78.28% | 10.68% | 10.94% | 12.26% | ||||||||||||||||||
SINCE INCEPTION (1) | −0.47% | 0.05% | 5.61% | −0.08% | 0.01% | 0.96% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
89
SPDR S&P International Energy Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Energy | Energy Sector | |||||||
Sector ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 9937.00 | 9918.00 | ||||||
8/31/2008 | 9760.00 | 9686.00 | ||||||
9/30/2008 | 7972.00 | 7830.00 | ||||||
10/1/2008 | 6535.00 | 6403.00 | ||||||
11/2/2008 | 6353.00 | 6197.00 | ||||||
12/3/2008 | 6234.00 | 6138.00 | ||||||
1/9/2009 | 5961.00 | 5862.00 | ||||||
2/9/2009 | 5634.00 | 5541.00 | ||||||
3/9/2009 | 5993.00 | 5924.00 | ||||||
4/30/2009 | 6519.00 | 6497.00 | ||||||
5/31/2009 | 7785.00 | 7778.00 | ||||||
6/30/2009 | 7317.00 | 7352.00 | ||||||
7/9/2009 | 7622.00 | 7681.00 | ||||||
8/31/2009 | 7860.00 | 7945.00 | ||||||
9/30/2009 | 8377.00 | 8449.00 | ||||||
10/31/2009 | 8404.00 | 8509.00 | ||||||
11/30/2009 | 8598.00 | 8701.00 | ||||||
12/31/2009 | 8859.00 | 8995.00 | ||||||
1/31/2010 | 8276.00 | 8431.00 | ||||||
2/28/2010 | 8163.00 | 8310.00 | ||||||
3/31/2010 | 8668.00 | 8832.00 | ||||||
4/30/2010 | 8645.00 | 8833.00 | ||||||
5/31/2010 | 7563.00 | 7702.00 | ||||||
6/30/2010 | 7021.00 | 7139.00 | ||||||
7/31/2010 | 7784.00 | 7952.00 | ||||||
8/31/2010 | 7454.00 | 7624.00 | ||||||
9/30/2010 | 8278.00 | 8503.00 | ||||||
10/31/2010 | 8613.00 | 8860.00 | ||||||
11/30/2010 | 8316.00 | 8620.00 | ||||||
12/31/2010 | 9292.00 | 9655.00 | ||||||
1/31/2011 | 9743.00 | 10119.00 | ||||||
2/28/2011 | 10301.00 | 10690.00 | ||||||
3/31/2011 | 10272.00 | 10688.00 | ||||||
4/30/2011 | 10640.00 | 11084.00 | ||||||
5/31/2011 | 10132.00 | 10577.00 | ||||||
6/30/2011 | 9807.00 | 10212.00 | ||||||
7/31/2011 | 9735.00 | 10197.00 | ||||||
8/31/2011 | 8817.00 | 9221.00 | ||||||
9/30/2011 | 7770.00 | 8068.00 | ||||||
10/31/2011 | 9084.00 | 9482.00 | ||||||
11/30/2011 | 8887.00 | 9268.00 | ||||||
12/31/2011 | 8876.00 | 9246.00 | ||||||
1/31/2012 | 9183.00 | 9589.00 | ||||||
2/29/2012 | 9745.00 | 10175.00 | ||||||
3/31/2012 | 9216.00 | 9618.00 | ||||||
4/30/2012 | 9179.00 | 9568.00 | ||||||
5/31/2012 | 7909.00 | 8251.00 | ||||||
6/30/2012 | 8344.00 | 8673.00 | ||||||
7/31/2012 | 8564.00 | 8918.00 | ||||||
8/31/2012 | 8950.00 | 9317.00 | ||||||
9/30/2012 | 9049.00 | 9456.00 | ||||||
10/31/2012 | 8970.00 | 9382.00 | ||||||
11/30/2012 | 8836.00 | 9253.00 | ||||||
12/31/2012 | 8926.00 | 9361.00 | ||||||
1/31/2013 | 9249.00 | 9710.00 | ||||||
2/28/2013 | 8869.00 | 9311.00 | ||||||
3/31/2013 | 8829.00 | 9289.00 | ||||||
4/30/2013 | 8958.00 | 9438.00 | ||||||
5/31/2013 | 8886.00 | 9364.00 | ||||||
6/30/2013 | 8388.00 | 8841.00 | ||||||
7/31/2013 | 8909.00 | 9395.00 | ||||||
8/31/2013 | 8933.00 | 9418.00 | ||||||
9/30/2013 | 9261.00 | 9779.00 | ||||||
10/31/2013 | 9560.00 | 10109.00 | ||||||
11/30/2013 | 9435.00 | 9982.00 | ||||||
12/31/2013 | 9675.00 | 10241.00 | ||||||
1/31/2014 | 9130.00 | 9669.00 | ||||||
2/28/2014 | 9793.00 | 10387.00 | ||||||
3/31/2014 | 9953.00 | 10561.00 |
Past performance is not a guarantee of future results.
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.
90
SPDR S&P International Energy Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
ROYAL DUTCH | ROYAL DUTCH | |||||||||
DESCRIPTION | TOTAL SA | BP PLC | SHELL PLC (CLASS A) | SHELL PLC (CLASS B) | ENI SPA | |||||
MARKET VALUE | $1,379,995 | 1,371,566 | 1,319,072 | 888,321 | 625,641 | |||||
% OF NET ASSETS | 10.4 | 10.3 | 9.9 | 6.7 | 4.7 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 90.2 | % | ||||
Energy Equipment & Services | 9.0 | |||||
Short Term Investments | 17.6 | |||||
Other Assets & Liabilities | (16.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
91
SPDR S&P International Financial Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Financial Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
EX-U.S. BMI | EX-U.S. BMI | |||||||||||||||||||||||
NET ASSET | MARKET | FINANCIALS SECTOR | NET ASSET | MARKET | FINANCIALS SECTOR | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | 5.35% | 5.99% | 6.35% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 17.13% | 17.26% | 17.73% | 17.13% | 17.26% | 17.73% | ||||||||||||||||||
THREE YEARS | 20.60% | 21.04% | 24.11% | 6.44% | 6.57% | 7.46% | ||||||||||||||||||
FIVE YEARS | 119.41% | 115.63% | 130.17% | 17.02% | 16.61% | 18.15% | ||||||||||||||||||
SINCE INCEPTION (1) | 10.91% | 11.54% | 15.03% | 1.83% | 1.93% | 2.48% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
92
SPDR S&P International Financial Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Financial | Financials Sector | |||||||
Sector ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10608.00 | 10703.00 | ||||||
8/31/2008 | 9988.00 | 10146.00 | ||||||
9/30/2008 | 8797.00 | 8960.00 | ||||||
10/1/2008 | 6409.00 | 6466.00 | ||||||
11/2/2008 | 5791.00 | 5875.00 | ||||||
12/3/2008 | 6129.00 | 6097.00 | ||||||
1/9/2009 | 5292.00 | 5311.00 | ||||||
2/9/2009 | 4443.00 | 4446.00 | ||||||
3/9/2009 | 5057.00 | 4998.00 | ||||||
4/30/2009 | 6233.00 | 6126.00 | ||||||
5/31/2009 | 7169.00 | 7066.00 | ||||||
6/30/2009 | 7121.00 | 7030.00 | ||||||
7/9/2009 | 7981.00 | 7909.00 | ||||||
8/31/2009 | 8728.00 | 8581.00 | ||||||
9/30/2009 | 9004.00 | 8939.00 | ||||||
10/31/2009 | 8675.00 | 8620.00 | ||||||
11/30/2009 | 8747.00 | 8675.00 | ||||||
12/31/2009 | 8671.00 | 8599.00 | ||||||
1/31/2010 | 8137.00 | 8089.00 | ||||||
2/28/2010 | 8175.00 | 8102.00 | ||||||
3/31/2010 | 8725.00 | 8684.00 | ||||||
4/30/2010 | 8581.00 | 8551.00 | ||||||
5/31/2010 | 7480.00 | 7440.00 | ||||||
6/30/2010 | 7318.00 | 7306.00 | ||||||
7/31/2010 | 8293.00 | 8291.00 | ||||||
8/31/2010 | 7827.00 | 7855.00 | ||||||
9/30/2010 | 8499.00 | 8528.00 | ||||||
10/31/2010 | 8742.00 | 8749.00 | ||||||
11/30/2010 | 8070.00 | 8107.00 | ||||||
12/31/2010 | 8725.00 | 8808.00 | ||||||
1/31/2011 | 9156.00 | 9204.00 | ||||||
2/28/2011 | 9534.00 | 9566.00 | ||||||
3/31/2011 | 9197.00 | 9270.00 | ||||||
4/30/2011 | 9678.00 | 9770.00 | ||||||
5/31/2011 | 9272.00 | 9381.00 | ||||||
6/30/2011 | 9073.00 | 9208.00 | ||||||
7/31/2011 | 8716.00 | 8896.00 | ||||||
8/31/2011 | 7856.00 | 8012.00 | ||||||
9/30/2011 | 6970.00 | 7112.00 | ||||||
10/31/2011 | 7687.00 | 7807.00 | ||||||
11/30/2011 | 7042.00 | 7185.00 | ||||||
12/31/2011 | 6982.00 | 7108.00 | ||||||
1/31/2012 | 7601.00 | 7747.00 | ||||||
2/29/2012 | 8138.00 | 8262.00 | ||||||
3/31/2012 | 8069.00 | 8215.00 | ||||||
4/30/2012 | 7844.00 | 7981.00 | ||||||
5/31/2012 | 6810.00 | 6967.00 | ||||||
6/30/2012 | 7450.00 | 7615.00 | ||||||
7/31/2012 | 7543.00 | 7707.00 | ||||||
8/31/2012 | 7836.00 | 8019.00 | ||||||
9/30/2012 | 8226.00 | 8428.00 | ||||||
10/31/2012 | 8428.00 | 8641.00 | ||||||
11/30/2012 | 8656.00 | 8864.00 | ||||||
12/31/2012 | 9059.00 | 9270.00 | ||||||
1/31/2013 | 9659.00 | 9881.00 | ||||||
2/28/2013 | 9531.00 | 9800.00 | ||||||
3/31/2013 | 9469.00 | 9771.00 | ||||||
4/30/2013 | 10194.00 | 10499.00 | ||||||
5/31/2013 | 9799.00 | 10043.00 | ||||||
6/30/2013 | 9382.00 | 9610.00 | ||||||
7/31/2013 | 10018.00 | 10234.00 | ||||||
8/31/2013 | 9801.00 | 10047.00 | ||||||
9/30/2013 | 10528.00 | 10816.00 | ||||||
10/31/2013 | 10998.00 | 11329.00 | ||||||
11/30/2013 | 11062.00 | 11365.00 | ||||||
12/31/2013 | 11163.00 | 11496.00 | ||||||
1/31/2014 | 10616.00 | 10984.00 | ||||||
2/28/2014 | 11098.00 | 11472.00 | ||||||
3/31/2014 | 11091.00 | 11503.00 |
Past performance is not a guarantee of future results.
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.
93
SPDR S&P International Financial Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
COMMONWEALTH | ROYAL BANK | WESTPAC BANKING | ||||||||
DESCRIPTION | HSBC HOLDINGS PLC | BANK OF AUSTRALIA | OF CANADA | CORP. | BNP PARIBAS | |||||
MARKET VALUE | $486,901 | 302,964 | 271,616 | 268,139 | 259,594 | |||||
% OF NET ASSETS | 4.4 | 2.7 | 2.4 | 2.4 | 2.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Banks | 52.5 | % | ||||
Insurance | 19.9 | |||||
Capital Markets | 9.0 | |||||
Real Estate Management & Development | 8.0 | |||||
Diversified Financial Services | 4.9 | |||||
Real Estate Investment Trusts | 3.9 | |||||
Consumer Finance | 1.0 | |||||
Transportation Infrastructure | 0.0 | *** | ||||
Short Term Investments | 3.6 | |||||
Other Assets & Liabilities | (2.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less then 0.05% of net assets. |
94
SPDR S&P International Health Care Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Health Care Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
NET ASSET | MARKET | EX-U.S. BMI HEALTH | NET ASSET | MARKET | EX-U.S. BMI HEALTH | |||||||||||||||||||
VALUE | VALUE | CARE SECTOR INDEX | VALUE | VALUE | CARE SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 13.67% | 13.57% | 13.70% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 20.99% | 20.71% | 21.54% | 20.99% | 20.71% | 21.54% | ||||||||||||||||||
THREE YEARS | 62.12% | 61.93% | 65.83% | 17.48% | 17.43% | 18.36% | ||||||||||||||||||
FIVE YEARS | 142.86% | 142.21% | 154.69% | 19.42% | 19.35% | 20.56% | ||||||||||||||||||
SINCE INCEPTION (1) | 70.67% | 70.60% | 80.82% | 9.81% | 9.81% | 10.94% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
95
SPDR S&P International Health Care Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Health | Health Care | |||||||
Care Sector | Sector Index | |||||||
ETF (a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10163.00 | 10204.00 | ||||||
8/31/2008 | 10042.00 | 10044.00 | ||||||
9/30/2008 | 9103.00 | 9082.00 | ||||||
10/1/2008 | 8048.00 | 8070.00 | ||||||
11/2/2008 | 7602.00 | 7615.00 | ||||||
12/3/2008 | 8235.00 | 8237.00 | ||||||
1/9/2009 | 7708.00 | 7708.00 | ||||||
2/9/2009 | 6852.00 | 6852.00 | ||||||
3/9/2009 | 7028.00 | 7099.00 | ||||||
4/30/2009 | 7216.00 | 7282.00 | ||||||
5/31/2009 | 7897.00 | 7978.00 | ||||||
6/30/2009 | 7972.00 | 8094.00 | ||||||
7/9/2009 | 8604.00 | 8741.00 | ||||||
8/31/2009 | 8948.00 | 9086.00 | ||||||
9/30/2009 | 9356.00 | 9532.00 | ||||||
10/31/2009 | 9267.00 | 9475.00 | ||||||
11/30/2009 | 9605.00 | 9798.00 | ||||||
12/31/2009 | 9741.00 | 9945.00 | ||||||
1/31/2010 | 9557.00 | 9766.00 | ||||||
2/28/2010 | 9557.00 | 9783.00 | ||||||
3/31/2010 | 9781.00 | 9998.00 | ||||||
4/30/2010 | 9462.00 | 9685.00 | ||||||
5/31/2010 | 8606.00 | 8835.00 | ||||||
6/30/2010 | 8909.00 | 9100.00 | ||||||
7/31/2010 | 9151.00 | 9301.00 | ||||||
8/31/2010 | 9268.00 | 9512.00 | ||||||
9/30/2010 | 9891.00 | 10223.00 | ||||||
10/31/2010 | 10075.00 | 10418.00 | ||||||
11/30/2010 | 9652.00 | 9966.00 | ||||||
12/31/2010 | 10222.00 | 10581.00 | ||||||
1/31/2011 | 10269.00 | 10633.00 | ||||||
2/28/2011 | 10569.00 | 10941.00 | ||||||
3/31/2011 | 10529.00 | 10902.00 | ||||||
4/30/2011 | 11311.00 | 11717.00 | ||||||
5/31/2011 | 11607.00 | 12029.00 | ||||||
6/30/2011 | 11347.00 | 11774.00 | ||||||
7/31/2011 | 11508.00 | 11969.00 | ||||||
8/31/2011 | 10777.00 | 11193.00 | ||||||
9/30/2011 | 10157.00 | 10573.00 | ||||||
10/31/2011 | 10563.00 | 11028.00 | ||||||
11/30/2011 | 10332.00 | 10758.00 | ||||||
12/31/2011 | 10679.00 | 11126.00 | ||||||
1/31/2012 | 10804.00 | 11258.00 | ||||||
2/29/2012 | 11153.00 | 11633.00 | ||||||
3/31/2012 | 11294.00 | 11787.00 | ||||||
4/30/2012 | 11471.00 | 11957.00 | ||||||
5/31/2012 | 10635.00 | 11082.00 | ||||||
6/30/2012 | 11384.00 | 11880.00 | ||||||
7/31/2012 | 11788.00 | 12293.00 | ||||||
8/31/2012 | 11944.00 | 12468.00 | ||||||
9/30/2012 | 12395.00 | 12960.00 | ||||||
10/31/2012 | 12341.00 | 12919.00 | ||||||
11/30/2012 | 12446.00 | 13025.00 | ||||||
12/31/2012 | 12573.00 | 13157.00 | ||||||
1/31/2013 | 13389.00 | 14055.00 | ||||||
2/28/2013 | 13539.00 | 14254.00 | ||||||
3/31/2013 | 14106.00 | 14877.00 | ||||||
4/30/2013 | 14767.00 | 15592.00 | ||||||
5/31/2013 | 14352.00 | 15160.00 | ||||||
6/30/2013 | 14156.00 | 14892.00 | ||||||
7/31/2013 | 14591.00 | 15407.00 | ||||||
8/31/2013 | 14404.00 | 15190.00 | ||||||
9/30/2013 | 15015.00 | 15903.00 | ||||||
10/31/2013 | 15511.00 | 16387.00 | ||||||
11/30/2013 | 15898.00 | 16802.00 | ||||||
12/31/2013 | 16119.00 | 17023.00 | ||||||
1/31/2014 | 16133.00 | 17054.00 | ||||||
2/28/2014 | 17430.00 | 18435.00 | ||||||
3/31/2014 | 17067.00 | 18082.00 |
Past performance is not a guarantee of future results.
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.
96
SPDR S&P International Health Care Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | NOVARTIS AG | ROCHE HOLDING AG | GLAXOSMITHKLINE PLC | SANOFI | BAYER AG | |||||
MARKET VALUE | $7,042,113 | 5,131,403 | 4,025,381 | 3,941,512 | 3,415,931 | |||||
% OF NET ASSETS | 12.0 | 8.7 | 6.9 | 6.7 | 5.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Pharmaceuticals | 76.7 | % | ||||
Health Care Equipment & Supplies | 8.7 | |||||
Health Care Providers & Services | 7.1 | |||||
Biotechnology | 5.2 | |||||
Life Sciences Tools & Services | 0.6 | |||||
Chemicals | 0.5 | |||||
Health Care Technology | 0.2 | |||||
Short Term Investments | 1.8 | |||||
Other Assets & Liabilities | (0.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
97
SPDR S&P International Industrial Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Industrial Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED EX-U.S. | S&P DEVELOPED EX-U.S. | |||||||||||||||||||||||
NET ASSET | MARKET | BMI INDUSTRIAL SECTOR | NET ASSET | MARKET | BMI INDUSTRIAL SECTOR | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS | 5.26% | 4.27% | 6.36% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 17.22% | 16.42% | 19.72% | 17.22% | 16.42% | 19.72% | ||||||||||||||||||
THREE YEARS | 16.03% | 16.34% | 20.28% | 5.08% | 5.18% | 6.35% | ||||||||||||||||||
FIVE YEARS | 133.74% | 132.58% | 147.23% | 18.51% | 18.39% | 19.85% | ||||||||||||||||||
SINCE INCEPTION (1) | 31.45% | 31.19% | 36.84% | 4.91% | 4.87% | 5.65% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
98
SPDR S&P International Industrial Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Industrial | Industrial Sector | |||||||
Sector ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10237.00 | 10271.00 | ||||||
8/31/2008 | 9847.00 | 9763.00 | ||||||
9/30/2008 | 8051.00 | 8028.00 | ||||||
10/1/2008 | 6121.00 | 5996.00 | ||||||
11/2/2008 | 6008.00 | 5836.00 | ||||||
12/3/2008 | 6505.00 | 6396.00 | ||||||
1/9/2009 | 5857.00 | 5783.00 | ||||||
2/9/2009 | 5276.00 | 5155.00 | ||||||
3/9/2009 | 5622.00 | 5534.00 | ||||||
4/30/2009 | 6534.00 | 6469.00 | ||||||
5/31/2009 | 7261.00 | 7186.00 | ||||||
6/30/2009 | 7228.00 | 7141.00 | ||||||
7/9/2009 | 7830.00 | 7756.00 | ||||||
8/31/2009 | 8331.00 | 8215.00 | ||||||
9/30/2009 | 8723.00 | 8600.00 | ||||||
10/31/2009 | 8517.00 | 8374.00 | ||||||
11/30/2009 | 8708.00 | 8507.00 | ||||||
12/31/2009 | 8907.00 | 8739.00 | ||||||
1/31/2010 | 8746.00 | 8567.00 | ||||||
2/28/2010 | 8708.00 | 8565.00 | ||||||
3/31/2010 | 9410.00 | 9269.00 | ||||||
4/30/2010 | 9451.00 | 9351.00 | ||||||
5/31/2010 | 8458.00 | 8338.00 | ||||||
6/30/2010 | 8391.00 | 8286.00 | ||||||
7/31/2010 | 9079.00 | 8983.00 | ||||||
8/31/2010 | 8687.00 | 8614.00 | ||||||
9/30/2010 | 9764.00 | 9710.00 | ||||||
10/31/2010 | 10080.00 | 10055.00 | ||||||
11/30/2010 | 9916.00 | 9844.00 | ||||||
12/31/2010 | 10802.00 | 10802.00 | ||||||
1/31/2011 | 11027.00 | 11063.00 | ||||||
2/28/2011 | 11214.00 | 11181.00 | ||||||
3/31/2011 | 11329.00 | 11374.00 | ||||||
4/30/2011 | 11823.00 | 11942.00 | ||||||
5/31/2011 | 11425.00 | 11526.00 | ||||||
6/30/2011 | 11290.00 | 11444.00 | ||||||
7/31/2011 | 11034.00 | 11215.00 | ||||||
8/31/2011 | 9888.00 | 10063.00 | ||||||
9/30/2011 | 8727.00 | 8856.00 | ||||||
10/31/2011 | 9605.00 | 9725.00 | ||||||
11/30/2011 | 9135.00 | 9258.00 | ||||||
12/31/2011 | 9113.00 | 9202.00 | ||||||
1/31/2012 | 9804.00 | 9968.00 | ||||||
2/29/2012 | 10299.00 | 10533.00 | ||||||
3/31/2012 | 10180.00 | 10436.00 | ||||||
4/30/2012 | 10007.00 | 10221.00 | ||||||
5/31/2012 | 8933.00 | 9109.00 | ||||||
6/30/2012 | 9258.00 | 9478.00 | ||||||
7/31/2012 | 9426.00 | 9578.00 | ||||||
8/31/2012 | 9558.00 | 9740.00 | ||||||
9/30/2012 | 9820.00 | 10048.00 | ||||||
10/31/2012 | 9907.00 | 10102.00 | ||||||
11/30/2012 | 10166.00 | 10352.00 | ||||||
12/31/2012 | 10583.00 | 10807.00 | ||||||
1/31/2013 | 11033.00 | 11228.00 | ||||||
2/28/2013 | 11150.00 | 11352.00 | ||||||
3/31/2013 | 11214.00 | 11430.00 | ||||||
4/30/2013 | 11526.00 | 11725.00 | ||||||
5/31/2013 | 11414.00 | 11650.00 | ||||||
6/30/2013 | 10963.00 | 11222.00 | ||||||
7/31/2013 | 11577.00 | 11852.00 | ||||||
8/31/2013 | 11451.00 | 11758.00 | ||||||
9/30/2013 | 12489.00 | 12865.00 | ||||||
10/31/2013 | 12737.00 | 13139.00 | ||||||
11/30/2013 | 12837.00 | 13244.00 | ||||||
12/31/2013 | 13070.00 | 13531.00 | ||||||
1/31/2014 | 12630.00 | 13111.00 | ||||||
2/28/2014 | 13159.00 | 13686.00 | ||||||
3/31/2014 | 13145.00 | 13684.00 |
Past performance is not a guarantee of future results.
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.
99
SPDR S&P International Industrial Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
CANADIAN NATIONAL | ||||||||||
DESCRIPTION | SIEMENS AG | ABB, LTD. | SCHNEIDER ELECTRIC SA | RAILWAY CO. | VINCI SA | |||||
MARKET VALUE | $1,156,552 | 709,024 | 560,346 | 545,724 | 505,547 | |||||
% OF NET ASSETS | 4.3 | 2.6 | 2.1 | 2.0 | 1.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Machinery | 19.1 | % | ||||
Industrial Conglomerates | 11.8 | |||||
Electrical Equipment | 9.4 | |||||
Trading Companies & Distributors | 9.0 | |||||
Road & Rail | 8.7 | |||||
Construction & Engineering | 7.6 | |||||
Aerospace & Defense | 6.3 | |||||
Commercial Services & Supplies | 6.0 | |||||
Professional Services | 4.9 | |||||
Building Products | 4.6 | |||||
Transportation Infrastructure | 3.2 | |||||
Air Freight & Logistics | 3.0 | |||||
Marine | 2.6 | |||||
Airlines | 2.5 | |||||
Food Products | 0.3 | |||||
Oil, Gas & Consumable Fuels | 0.1 | |||||
Real Estate Investment Trusts | 0.0 | *** | ||||
Short Term Investments | 3.9 | |||||
Other Assets & Liabilities | (3.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) | |
*** | Amount shown represents less than 0.05% of net assets. |
100
SPDR S&P International Materials Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Materials Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
NET ASSET | MARKET | EX-U.S. BMI MATERIALS | NET ASSET | MARKET | EX-U.S. BMI MATERIALS | |||||||||||||||||||
VALUE | VALUE | SECTOR INDEX | VALUE | VALUE | SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 1.71% | 1.87% | 2.57% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 3.18% | 3.25% | 4.10% | 3.18% | 3.25% | 4.10% | ||||||||||||||||||
THREE YEARS | −20.33% | −20.39% | −19.13% | −7.29% | −7.32% | −6.83% | ||||||||||||||||||
FIVE YEARS | 69.23% | 69.87% | 82.63% | 11.09% | 11.18% | 12.80% | ||||||||||||||||||
SINCE INCEPTION (1) | −18.12% | −18.29% | −9.69% | −3.44% | −3.48% | −1.77% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
101
SPDR S&P International Materials Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Material | Materials Sector | |||||||
Sector ETF | Index | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 9968.00 | 9987.00 | ||||||
8/31/2008 | 9185.00 | 9147.00 | ||||||
9/30/2008 | 6856.00 | 6920.00 | ||||||
10/1/2008 | 4931.00 | 4926.00 | ||||||
11/2/2008 | 4711.00 | 4686.00 | ||||||
12/3/2008 | 5116.00 | 5124.00 | ||||||
1/9/2009 | 4662.00 | 4709.00 | ||||||
2/9/2009 | 4375.00 | 4415.00 | ||||||
3/9/2009 | 4839.00 | 4945.00 | ||||||
4/30/2009 | 5455.00 | 5618.00 | ||||||
5/31/2009 | 6478.00 | 6667.00 | ||||||
6/30/2009 | 6254.00 | 6428.00 | ||||||
7/9/2009 | 6978.00 | 7193.00 | ||||||
8/31/2009 | 7105.00 | 7355.00 | ||||||
9/30/2009 | 7465.00 | 7760.00 | ||||||
10/31/2009 | 7406.00 | 7699.00 | ||||||
11/30/2009 | 8090.00 | 8425.00 | ||||||
12/31/2009 | 8325.00 | 8686.00 | ||||||
1/31/2010 | 7639.00 | 7968.00 | ||||||
2/28/2010 | 7778.00 | 8138.00 | ||||||
3/31/2010 | 8528.00 | 8934.00 | ||||||
4/30/2010 | 8340.00 | 8839.00 | ||||||
5/31/2010 | 7399.00 | 7851.00 | ||||||
6/30/2010 | 7174.00 | 7686.00 | ||||||
7/31/2010 | 7815.00 | 8343.00 | ||||||
8/31/2010 | 7651.00 | 8232.00 | ||||||
9/30/2010 | 8624.00 | 9264.00 | ||||||
10/31/2010 | 9089.00 | 9778.00 | ||||||
11/30/2010 | 9036.00 | 9757.00 | ||||||
12/31/2010 | 10085.00 | 10883.00 | ||||||
1/31/2011 | 9796.00 | 10575.00 | ||||||
2/28/2011 | 10288.00 | 11049.00 | ||||||
3/31/2011 | 10277.00 | 11168.00 | ||||||
4/30/2011 | 10782.00 | 11768.00 | ||||||
5/31/2011 | 10287.00 | 11244.00 | ||||||
6/30/2011 | 10228.00 | 11106.00 | ||||||
7/31/2011 | 10063.00 | 11005.00 | ||||||
8/31/2011 | 9167.00 | 10067.00 | ||||||
9/30/2011 | 7578.00 | 8260.00 | ||||||
10/31/2011 | 8594.00 | 9349.00 | ||||||
11/30/2011 | 8186.00 | 8888.00 | ||||||
12/31/2011 | 7781.00 | 8445.00 | ||||||
1/31/2012 | 8625.00 | 9400.00 | ||||||
2/29/2012 | 8940.00 | 9755.00 | ||||||
3/31/2012 | 8537.00 | 9261.00 | ||||||
4/30/2012 | 8392.00 | 9079.00 | ||||||
5/31/2012 | 7158.00 | 7767.00 | ||||||
6/30/2012 | 7443.00 | 8053.00 | ||||||
7/31/2012 | 7389.00 | 8037.00 | ||||||
8/31/2012 | 7497.00 | 8198.00 | ||||||
9/30/2012 | 8016.00 | 8797.00 | ||||||
10/31/2012 | 8100.00 | 8821.00 | ||||||
11/30/2012 | 8085.00 | 8800.00 | ||||||
12/31/2012 | 8504.00 | 9213.00 | ||||||
1/31/2013 | 8627.00 | 9331.00 | ||||||
2/28/2013 | 8316.00 | 9037.00 | ||||||
3/31/2013 | 7936.00 | 8676.00 | ||||||
4/30/2013 | 7795.00 | 8486.00 | ||||||
5/31/2013 | 7769.00 | 8422.00 | ||||||
6/30/2013 | 7072.00 | 7682.00 | ||||||
7/31/2013 | 7386.00 | 8084.00 | ||||||
8/31/2013 | 7551.00 | 8257.00 | ||||||
9/30/2013 | 8050.00 | 8805.00 | ||||||
10/31/2013 | 8157.00 | 8946.00 | ||||||
11/30/2013 | 8077.00 | 8834.00 | ||||||
12/31/2013 | 8163.00 | 8952.00 | ||||||
1/31/2014 | 7893.00 | 8687.00 | ||||||
2/28/2014 | 8333.00 | 9182.00 | ||||||
3/31/2014 | 8188.00 | 9031.00 |
Past performance is not a guarantee of future results.
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.
102
SPDR S&P International Materials Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | BHP BILLITON, LTD. | BASF SE | RIO TINTO PLC | BHP BILLITON PLC | GLENCORE XSTRATA PLC | |||||
MARKET VALUE | $668,743 | 602,689 | 418,087 | 407,427 | 334,934 | |||||
% OF NET ASSETS | 7.1 | 6.4 | 4.5 | 4.4 | 3.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Metals & Mining | 45.8 | % | ||||
Chemicals | 40.5 | |||||
Construction Materials | 7.0 | |||||
Paper & Forest Products | 3.1 | |||||
Containers & Packaging | 2.7 | |||||
Short Term Investments | 11.1 | |||||
Other Assets & Liabilities | (10.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
103
SPDR S&P International Technology Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Technology Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
EX-U.S. BMI | EX-U.S. BMI | |||||||||||||||||||||||
INFORMATION | INFORMATION | |||||||||||||||||||||||
NET ASSET | MARKET | TECHNOLOGY | NET ASSET | MARKET | TECHNOLOGY | |||||||||||||||||||
VALUE | VALUE | SECTOR INDEX | VALUE | VALUE | SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 7.03% | 7.43% | 8.44% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 17.79% | 17.46% | 19.54% | 17.79% | 17.46% | 19.54% | ||||||||||||||||||
THREE YEARS | 19.57% | 19.61% | 23.73% | 6.14% | 6.15% | 7.35% | ||||||||||||||||||
FIVE YEARS | 106.91% | 106.25% | 116.99% | 15.65% | 15.58% | 16.76% | ||||||||||||||||||
SINCE INCEPTION (1) | 24.14% | 24.05% | 28.83% | 3.86% | 3.85% | 4.54% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
104
SPDR S&P International Technology Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Technology | Information Technology | |||||||
Sector ETF | Sector Index | |||||||
(a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10238.00 | 10224.00 | ||||||
8/31/2008 | 9838.00 | 9824.00 | ||||||
9/30/2008 | 8019.00 | 8021.00 | ||||||
10/1/2008 | 6327.00 | 6322.00 | ||||||
11/2/2008 | 5895.00 | 5880.00 | ||||||
12/3/2008 | 6275.00 | 6274.00 | ||||||
1/9/2009 | 5996.00 | 5988.00 | ||||||
2/9/2009 | 5349.00 | 5310.00 | ||||||
3/9/2009 | 6000.00 | 5937.00 | ||||||
4/30/2009 | 6919.00 | 6870.00 | ||||||
5/31/2009 | 7454.00 | 7445.00 | ||||||
6/30/2009 | 7544.00 | 7508.00 | ||||||
7/9/2009 | 8281.00 | 8183.00 | ||||||
8/31/2009 | 8572.00 | 8532.00 | ||||||
9/30/2009 | 8967.00 | 8933.00 | ||||||
10/31/2009 | 8474.00 | 8482.00 | ||||||
11/30/2009 | 8434.00 | 8425.00 | ||||||
12/31/2009 | 8933.00 | 8882.00 | ||||||
1/31/2010 | 9006.00 | 8956.00 | ||||||
2/28/2010 | 8867.00 | 8866.00 | ||||||
3/31/2010 | 9763.00 | 9739.00 | ||||||
4/30/2010 | 9954.00 | 9961.00 | ||||||
5/31/2010 | 8713.00 | 8736.00 | ||||||
6/30/2010 | 8406.00 | 8470.00 | ||||||
7/31/2010 | 8951.00 | 8975.00 | ||||||
8/31/2010 | 8244.00 | 8297.00 | ||||||
9/30/2010 | 9133.00 | 9163.00 | ||||||
10/31/2010 | 9351.00 | 9393.00 | ||||||
11/30/2010 | 9310.00 | 9349.00 | ||||||
12/31/2010 | 10327.00 | 10303.00 | ||||||
1/31/2011 | 10583.00 | 10585.00 | ||||||
2/28/2011 | 10761.00 | 10729.00 | ||||||
3/31/2011 | 10382.00 | 10412.00 | ||||||
4/30/2011 | 10653.00 | 10732.00 | ||||||
5/31/2011 | 10308.00 | 10365.00 | ||||||
6/30/2011 | 9996.00 | 10025.00 | ||||||
7/31/2011 | 9715.00 | 9871.00 | ||||||
8/31/2011 | 8881.00 | 9045.00 | ||||||
9/30/2011 | 8244.00 | 8379.00 | ||||||
10/31/2011 | 9147.00 | 9289.00 | ||||||
11/30/2011 | 8874.00 | 8930.00 | ||||||
12/31/2011 | 8621.00 | 8721.00 | ||||||
1/31/2012 | 9053.00 | 9202.00 | ||||||
2/29/2012 | 9723.00 | 9865.00 | ||||||
3/31/2012 | 10029.00 | 10138.00 | ||||||
4/30/2012 | 9837.00 | 10025.00 | ||||||
5/31/2012 | 8531.00 | 8705.00 | ||||||
6/30/2012 | 8825.00 | 9012.00 | ||||||
7/31/2012 | 8903.00 | 9146.00 | ||||||
8/31/2012 | 8897.00 | 9110.00 | ||||||
9/30/2012 | 9240.00 | 9470.00 | ||||||
10/31/2012 | 9278.00 | 9455.00 | ||||||
11/30/2012 | 9756.00 | 9913.00 | ||||||
12/31/2012 | 10159.00 | 10344.00 | ||||||
1/31/2013 | 10370.00 | 10530.00 | ||||||
2/28/2013 | 10541.00 | 10726.00 | ||||||
3/31/2013 | 10540.00 | 10778.00 | ||||||
4/30/2013 | 11001.00 | 11197.00 | ||||||
5/31/2013 | 10933.00 | 11194.00 | ||||||
6/30/2013 | 10406.00 | 10655.00 | ||||||
7/31/2013 | 10588.00 | 10851.00 | ||||||
8/31/2013 | 10659.00 | 10965.00 | ||||||
9/30/2013 | 11599.00 | 11881.00 | ||||||
10/31/2013 | 11854.00 | 12210.00 | ||||||
11/30/2013 | 12272.00 | 12653.00 | ||||||
12/31/2013 | 12373.00 | 12775.00 | ||||||
1/31/2014 | 11825.00 | 12326.00 | ||||||
2/28/2014 | 12531.00 | 13022.00 | ||||||
3/31/2014 | 12414.00 | 12883.00 |
Past performance is not a guarantee of future results.
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.
105
SPDR S&P International Technology Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
SAMSUNG ELECTRONICS | TELEFONAKTIEBOLAGET | |||||||||
DESCRIPTION | CO., LTD. GDR | SAP AG | LM ERICSSON (CLASS B) | ASML HOLDING NV | CANON, INC. | |||||
MARKET VALUE | $2,173,195 | 978,796 | 548,945 | 536,315 | 462,267 | |||||
% OF NET ASSETS | 15.2 | 6.8 | 3.8 | 3.7 | 3.2 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Semiconductors & Semiconductor Equipment | 29.3 | % | ||||
Electronic Equipment, Instruments & Components | 22.6 | |||||
Software | 16.5 | |||||
IT Services | 10.4 | |||||
Technology Hardware, Storage & Peripherals | 10.4 | |||||
Communications Equipment | 5.6 | |||||
Internet Software & Services | 4.7 | |||||
Short Term Investments | 3.4 | |||||
Other Assets & Liabilities | (2.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
106
SPDR S&P International Telecommunications Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Telecommunications Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
EX-U.S. BMI | EX-U.S. BMI | |||||||||||||||||||||||
NET ASSET | MARKET | TELECOMMUNICATION | NET ASSET | MARKET | TELECOMMUNICATION | |||||||||||||||||||
VALUE | VALUE | SERVICES SECTOR INDEX | VALUE | VALUE | SERVICES SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 9.15% | 9.52% | 9.64% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 31.23% | 30.54% | 32.94% | 31.23% | 30.54% | 32.94% | ||||||||||||||||||
THREE YEARS | 28.42% | 28.71% | 33.46% | 8.70% | 8.78% | 10.10% | ||||||||||||||||||
FIVE YEARS | 105.28% | 105.85% | 116.70% | 15.47% | 15.53% | 16.73% | ||||||||||||||||||
SINCE INCEPTION (1) | 40.25% | 40.30% | 48.89% | 6.10% | 6.11% | 7.23% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
107
SPDR S&P International Telecommunications Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
S&P Developed | ||||||||
SPDR S&P | Ex-U.S. BMI | |||||||
International Telecommunications | Telecommunication Services | |||||||
Sector ETF | Sector Index | |||||||
(a) | (b) | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 9771.00 | 9788.00 | ||||||
8/31/2008 | 9437.00 | 9466.00 | ||||||
9/30/2008 | 8455.00 | 8456.00 | ||||||
10/1/2008 | 7129.00 | 7133.00 | ||||||
11/2/2008 | 7423.00 | 7451.00 | ||||||
12/3/2008 | 8061.00 | 8094.00 | ||||||
1/9/2009 | 7185.00 | 7195.00 | ||||||
2/9/2009 | 6770.00 | 6795.00 | ||||||
3/9/2009 | 6831.00 | 6871.00 | ||||||
4/30/2009 | 6951.00 | 7014.00 | ||||||
5/31/2009 | 7642.00 | 7711.00 | ||||||
6/30/2009 | 7796.00 | 7882.00 | ||||||
7/9/2009 | 8460.00 | 8553.00 | ||||||
8/31/2009 | 8779.00 | 8884.00 | ||||||
9/30/2009 | 9189.00 | 9302.00 | ||||||
10/31/2009 | 9111.00 | 9230.00 | ||||||
11/30/2009 | 9454.00 | 9572.00 | ||||||
12/31/2009 | 9349.00 | 9484.00 | ||||||
1/31/2010 | 8873.00 | 8978.00 | ||||||
2/28/2010 | 8783.00 | 8887.00 | ||||||
3/31/2010 | 9074.00 | 9181.00 | ||||||
4/30/2010 | 8842.00 | 8943.00 | ||||||
5/31/2010 | 8109.00 | 8189.00 | ||||||
6/30/2010 | 8303.00 | 8415.00 | ||||||
7/31/2010 | 9263.00 | 9400.00 | ||||||
8/31/2010 | 9328.00 | 9464.00 | ||||||
9/30/2010 | 9932.00 | 10096.00 | ||||||
10/31/2010 | 10525.00 | 10702.00 | ||||||
11/30/2010 | 9724.00 | 9900.00 | ||||||
12/31/2010 | 10115.00 | 10313.00 | ||||||
1/31/2011 | 10537.00 | 10762.00 | ||||||
2/28/2011 | 10851.00 | 11067.00 | ||||||
3/31/2011 | 10921.00 | 11156.00 | ||||||
4/30/2011 | 11409.00 | 11667.00 | ||||||
5/31/2011 | 11099.00 | 11395.00 | ||||||
6/30/2011 | 11016.00 | 11309.00 | ||||||
7/31/2011 | 11046.00 | 11356.00 | ||||||
8/31/2011 | 10356.00 | 10637.00 | ||||||
9/30/2011 | 9767.00 | 10003.00 | ||||||
10/31/2011 | 10518.00 | 10788.00 | ||||||
11/30/2011 | 10177.00 | 10441.00 | ||||||
12/31/2011 | 9990.00 | 10250.00 | ||||||
1/31/2012 | 9814.00 | 10070.00 | ||||||
2/29/2012 | 10038.00 | 10314.00 | ||||||
3/31/2012 | 9992.00 | 10268.00 | ||||||
4/30/2012 | 9756.00 | 10015.00 | ||||||
5/31/2012 | 9035.00 | 9292.00 | ||||||
6/30/2012 | 9909.00 | 10229.00 | ||||||
7/31/2012 | 9972.00 | 10298.00 | ||||||
8/31/2012 | 10319.00 | 10670.00 | ||||||
9/30/2012 | 10473.00 | 10859.00 | ||||||
10/31/2012 | 10046.00 | 10433.00 | ||||||
11/30/2012 | 10102.00 | 10523.00 | ||||||
12/31/2012 | 10102.00 | 10540.00 | ||||||
1/31/2013 | 10629.00 | 11109.00 | ||||||
2/28/2013 | 10157.00 | 10629.00 | ||||||
3/31/2013 | 10687.00 | 11199.00 | ||||||
4/30/2013 | 11477.00 | 12064.00 | ||||||
5/31/2013 | 11026.00 | 11611.00 | ||||||
6/30/2013 | 11020.00 | 11626.00 | ||||||
7/31/2013 | 11678.00 | 12333.00 | ||||||
8/31/2013 | 11701.00 | 12356.00 | ||||||
9/30/2013 | 12849.00 | 13580.00 | ||||||
10/31/2013 | 13598.00 | 14368.00 | ||||||
11/30/2013 | 13785.00 | 14577.00 | ||||||
12/31/2013 | 14211.00 | 15035.00 | ||||||
1/31/2014 | 13607.00 | 14419.00 | ||||||
2/28/2014 | 14176.00 | 15018.00 | ||||||
3/31/2014 | 14025.00 | 14889.00 |
Past performance is not a guarantee of future results.
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.
108
SPDR S&P International Telecommunications Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | VODAFONE GROUP PLC | SOFTBANK CORP. | TELEFONICA SA | BT GROUP PLC | DEUTSCHE TELEKOM AG | |||||
MARKET VALUE | $3,860,809 | 2,950,723 | 2,609,617 | 2,048,148 | 1,995,201 | |||||
% OF NET ASSETS | 12.6 | 9.6 | 8.5 | 6.7 | 6.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Diversified Telecommunication Services | 63.7 | % | ||||
Wireless Telecommunication Services | 35.6 | |||||
Short Term Investments | 14.7 | |||||
Other Assets & Liabilities | (14.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
109
SPDR S&P International Utilities Sector ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value, the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using 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. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (7/16/08, 7/22/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
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. Visit www.spdrs.com for the most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P International Utilities Sector ETF as stated in the Fees and Expenses table of the prospectus dated January 31, 2014 is 0.50%.
PERFORMANCE AS OF MARCH 31, 2014
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P DEVELOPED | S&P DEVELOPED | |||||||||||||||||||||||
NET ASSET | MARKET | EX-U.S. BMI UTILITIES | NET ASSET | MARKET | EX-U.S. BMI UTILITIES | |||||||||||||||||||
VALUE | VALUE | SECTOR INDEX | VALUE | VALUE | SECTOR INDEX | |||||||||||||||||||
SIX MONTHS | 9.18% | 9.52% | 9.77% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 22.78% | 22.93% | 23.54% | 22.78% | 22.93% | 23.54% | ||||||||||||||||||
THREE YEARS | 4.09% | 4.58% | 7.19% | 1.34% | 1.50% | 2.34% | ||||||||||||||||||
FIVE YEARS | 33.13% | 34.35% | 39.23% | 5.89% | 6.08% | 6.84% | ||||||||||||||||||
SINCE INCEPTION (1) | −17.80% | −17.31% | −14.40% | −3.38% | −3.27% | −2.69% | ||||||||||||||||||
(1) | For the period July 16, 2008 to March 31, 2014. |
110
SPDR S&P International Utilities Sector ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
SPDR S&P | S&P Developed | |||||||
International Utililies | Ex-U.S. BMI | |||||||
Sector ETF | Utilities Sector | |||||||
(a) | Index (b) | |||||||
10000.00 | 10000.00 | |||||||
7/16/2008 | 10214.00 | 10188.00 | ||||||
8/31/2008 | 9762.00 | 9715.00 | ||||||
9/30/2008 | 8613.00 | 8555.00 | ||||||
10/1/2008 | 7312.00 | 7257.00 | ||||||
11/2/2008 | 7146.00 | 7086.00 | ||||||
12/3/2008 | 7771.00 | 7738.00 | ||||||
1/9/2009 | 7027.00 | 7001.00 | ||||||
2/9/2009 | 6253.00 | 6216.00 | ||||||
3/9/2009 | 6173.00 | 6149.00 | ||||||
4/30/2009 | 6630.00 | 6572.00 | ||||||
5/31/2009 | 7249.00 | 7231.00 | ||||||
6/30/2009 | 7148.00 | 7128.00 | ||||||
7/9/2009 | 7405.00 | 7403.00 | ||||||
8/31/2009 | 7891.00 | 7890.00 | ||||||
9/30/2009 | 8186.00 | 8201.00 | ||||||
10/31/2009 | 7747.00 | 7781.00 | ||||||
11/30/2009 | 8060.00 | 8091.00 | ||||||
12/31/2009 | 8190.00 | 8217.00 | ||||||
1/31/2010 | 7739.00 | 7803.00 | ||||||
2/28/2010 | 7635.00 | 7701.00 | ||||||
3/31/2010 | 7851.00 | 7929.00 | ||||||
4/30/2010 | 7569.00 | 7652.00 | ||||||
5/31/2010 | 6868.00 | 6927.00 | ||||||
6/30/2010 | 6832.00 | 6895.00 | ||||||
7/31/2010 | 7416.00 | 7487.00 | ||||||
8/31/2010 | 7339.00 | 7409.00 | ||||||
9/30/2010 | 7637.00 | 7720.00 | ||||||
10/31/2010 | 8049.00 | 8138.00 | ||||||
11/30/2010 | 7384.00 | 7479.00 | ||||||
12/31/2010 | 7834.00 | 7944.00 | ||||||
1/31/2011 | 8142.00 | 8241.00 | ||||||
2/28/2011 | 8344.00 | 8433.00 | ||||||
3/31/2011 | 7896.00 | 7990.00 | ||||||
4/30/2011 | 8303.00 | 8398.00 | ||||||
5/31/2011 | 7813.00 | 7936.00 | ||||||
6/30/2011 | 7873.00 | 7991.00 | ||||||
7/31/2011 | 7569.00 | 7691.00 | ||||||
8/31/2011 | 7076.00 | 7186.00 | ||||||
9/30/2011 | 6762.00 | 6850.00 | ||||||
10/31/2011 | 6933.00 | 7038.00 | ||||||
11/30/2011 | 6750.00 | 6857.00 | ||||||
12/31/2011 | 6507.00 | 6630.00 | ||||||
1/31/2012 | 6582.00 | 6698.00 | ||||||
2/29/2012 | 6826.00 | 6949.00 | ||||||
3/31/2012 | 6808.00 | 6943.00 | ||||||
4/30/2012 | 6590.00 | 6730.00 | ||||||
5/31/2012 | 5987.00 | 6115.00 | ||||||
6/30/2012 | 6496.00 | 6649.00 | ||||||
7/31/2012 | 6140.00 | 6314.00 | ||||||
8/31/2012 | 6423.00 | 6613.00 | ||||||
9/30/2012 | 6676.00 | 6882.00 | ||||||
10/31/2012 | 6672.00 | 6881.00 | ||||||
11/30/2012 | 6582.00 | 6790.00 | ||||||
12/31/2012 | 6766.00 | 6993.00 | ||||||
1/31/2013 | 6795.00 | 7023.00 | ||||||
2/28/2013 | 6585.00 | 6807.00 | ||||||
3/31/2013 | 6695.00 | 6929.00 | ||||||
4/30/2013 | 7311.00 | 7556.00 | ||||||
5/31/2013 | 7105.00 | 7349.00 | ||||||
6/30/2013 | 6890.00 | 7135.00 | ||||||
7/31/2013 | 7182.00 | 7454.00 | ||||||
8/31/2013 | 6958.00 | 7211.00 | ||||||
9/30/2013 | 7529.00 | 7799.00 | ||||||
10/31/2013 | 7709.00 | 8002.00 | ||||||
11/30/2013 | 7661.00 | 7960.00 | ||||||
12/31/2013 | 7683.00 | 7991.00 | ||||||
1/31/2014 | 7492.00 | 7801.00 | ||||||
2/28/2014 | 8069.00 | 8401.00 | ||||||
3/31/2014 | 8220.00 | 8560.00 |
Past performance is not a guarantee of future results.
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.
111
SPDR S&P International Utilities Sector ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF MARCH 31, 2014
DESCRIPTION | NATIONAL GRID PLC | GDF SUEZ | E.ON AG | IBERDROLA SA | ENEL SPA | |||||
MARKET VALUE | $5,407,314 | 4,257,857 | 4,006,286 | 3,766,133 | 3,760,759 | |||||
% OF NET ASSETS | 8.6 | 6.7 | 6.3 | 6.0 | 6.0 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF MARCH 31, 2014*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Electric Utilities | 42.2 | % | ||||
Multi-Utilities | 36.5 | |||||
Gas Utilities | 13.5 | |||||
Independent Power & Renewable Electricity Producers | 4.1 | |||||
Water Utilities | 3.5 | |||||
Short Term Investments | 4.5 | |||||
Other Assets & Liabilities | (4.3 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
112
SPDR STOXX Europe 50 ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
BELGIUM — 1.8% | ||||||||
Anheuser-Busch InBev NV | 40,376 | $ | 4,234,828 | |||||
FRANCE — 12.9% | ||||||||
Air Liquide SA | 16,490 | 2,234,552 | ||||||
AXA SA | 109,291 | 2,841,640 | ||||||
BNP Paribas | 55,960 | 4,318,332 | ||||||
LVMH Moet Hennessy Louis Vuitton SA | 14,095 | 2,563,317 | ||||||
Sanofi | 63,726 | 6,647,000 | ||||||
Schneider Electric SA | 30,634 | 2,716,940 | ||||||
Total SA (a) | 125,679 | 8,245,130 | ||||||
29,566,911 | ||||||||
GERMANY — 15.4% | ||||||||
Allianz SE | 23,923 | 4,045,648 | ||||||
BASF SE | 48,606 | 5,404,850 | ||||||
Bayer AG | 43,730 | 5,917,392 | ||||||
Daimler AG | 51,978 | 4,913,696 | ||||||
Deutsche Bank AG | 53,773 | 2,406,807 | ||||||
Deutsche Telekom AG | 160,714 | 2,598,242 | ||||||
SAP AG | 50,143 | 4,060,878 | ||||||
Siemens AG | 43,989 | 5,923,338 | ||||||
35,270,851 | ||||||||
ITALY — 1.6% | ||||||||
ENI SpA | 141,522 | 3,551,909 | ||||||
NETHERLANDS — 2.8% | ||||||||
ING Groep NV (b) | 204,264 | 2,892,688 | ||||||
Unilever NV | 83,200 | 3,421,190 | ||||||
6,313,878 | ||||||||
SPAIN — 5.6% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 306,005 | 3,676,828 | ||||||
Banco Santander SA | 611,374 | 5,831,814 | ||||||
Telefonica SA | 210,492 | 3,331,919 | ||||||
12,840,561 | ||||||||
SWEDEN — 0.9% | ||||||||
Telefonaktiebolaget LM Ericsson (Class B) | 160,516 | 2,134,090 | ||||||
SWITZERLAND — 23.3% | ||||||||
ABB, Ltd. (b) | 122,854 | 3,170,964 | ||||||
Cie Financiere Richemont SA | 27,611 | 2,638,103 | ||||||
Credit Suisse Group AG (b) | 78,960 | 2,555,574 | ||||||
Glencore Xstrata PLC | 526,098 | 2,708,437 | ||||||
Nestle SA | 170,515 | 12,846,293 | ||||||
Novartis AG | 143,094 | 12,149,261 | ||||||
Roche Holding AG | 37,149 | 11,144,490 | ||||||
UBS AG (b) | 189,531 | 3,917,854 | ||||||
Zurich Insurance Group AG (b) | 7,849 | 2,411,523 | ||||||
53,542,499 | ||||||||
UNITED KINGDOM — 35.2% | ||||||||
AstraZeneca PLC | 66,077 | 4,270,363 | ||||||
Barclays PLC | 796,646 | 3,099,852 | ||||||
BG Group PLC | 179,108 | 3,336,854 | ||||||
BHP Billiton PLC | 112,981 | 3,473,290 | ||||||
BP PLC | 973,753 | 7,792,284 | ||||||
British American Tobacco PLC | 100,070 | 5,564,672 | ||||||
Diageo PLC | 132,284 | 4,104,199 | ||||||
GlaxoSmithKline PLC | 258,364 | 6,855,093 | ||||||
HSBC Holdings PLC | 984,818 | 9,974,175 | ||||||
Lloyds Banking Group PLC (b) | 2,532,225 | 3,151,424 | ||||||
National Grid PLC | 203,868 | 2,793,802 | ||||||
Reckitt Benckiser Group PLC | 34,696 | 2,826,809 | ||||||
Rio Tinto PLC | 66,344 | 3,691,455 | ||||||
Royal Dutch Shell PLC (Class A) | 204,151 | 7,461,960 | ||||||
Standard Chartered PLC | 103,857 | 2,170,375 | ||||||
Tesco PLC | 423,288 | 2,084,592 | ||||||
Unilever PLC | 67,886 | 2,898,441 | ||||||
Vodafone Group PLC | 1,383,481 | 5,081,155 | ||||||
80,630,795 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $217,265,925) | 228,086,322 | |||||||
RIGHTS — 0.0% (c) | ||||||||
SPAIN — 0.0% (c) | ||||||||
Banco Bilbao Vizcaya Argentaria SA (expiring 4/14/14) (b) (Cost $70,700) | 306,005 | 71,698 | ||||||
SHORT TERM INVESTMENTS — 2.9% | ||||||||
UNITED STATES — 2.9% | ||||||||
MONEY MARKET FUNDS — 2.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 100,838 | 100,838 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 6,606,712 | 6,606,712 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $6,707,550) | 6,707,550 | |||||||
TOTAL INVESTMENTS — 102.4% | ||||||||
(Cost $224,044,175) | 234,865,570 | |||||||
OTHER ASSETS & LIABILITIES — (2.4)% | (5,477,075 | ) | ||||||
NET ASSETS — 100.0% | $ | 229,388,495 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
See accompanying notes to financial statements.
113
SPDR EURO STOXX 50 ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
BELGIUM — 3.0% | ||||||||
Anheuser-Busch InBev NV | 1,479,143 | $ | 155,139,606 | |||||
FRANCE — 34.5% | ||||||||
Air Liquide SA | 605,584 | 82,062,384 | ||||||
AXA SA | 4,002,694 | 104,072,758 | ||||||
BNP Paribas | 2,049,508 | 158,156,830 | ||||||
Carrefour SA | 1,203,412 | 46,598,425 | ||||||
Compagnie de Saint-Gobain | 887,675 | 53,647,742 | ||||||
Danone | 1,132,091 | 80,090,401 | ||||||
Essilor International SA | 417,326 | 42,103,131 | ||||||
France Telecom SA | 3,748,028 | 55,376,497 | ||||||
GDF Suez | 2,956,603 | 80,928,245 | ||||||
L’Oreal SA | 461,680 | 76,166,338 | ||||||
LVMH Moet Hennessy Louis Vuitton SA | 517,610 | 94,132,570 | ||||||
Sanofi | 2,334,109 | 243,461,404 | ||||||
Schneider Electric SA | 1,122,287 | 99,536,038 | ||||||
Societe Generale | 1,546,913 | 95,312,498 | ||||||
Total SA | 4,603,424 | 302,006,156 | ||||||
Unibail-Rodamco SE | 188,315 | 48,924,245 | ||||||
Vinci SA | 1,020,930 | 75,856,563 | ||||||
Vivendi SA | 2,463,820 | 68,662,244 | ||||||
1,807,094,469 | ||||||||
GERMANY — 32.3% | ||||||||
Allianz SE | 876,149 | 148,166,628 | ||||||
BASF SE | 1,780,239 | 197,957,548 | ||||||
Bayer AG | 1,601,719 | 216,739,077 | ||||||
Bayerische Motoren Werke AG | 622,661 | 78,626,658 | ||||||
Daimler AG | 1,903,712 | 179,965,773 | ||||||
Deutsche Bank AG | 1,974,640 | 88,382,230 | ||||||
Deutsche Post AG | 1,836,804 | 68,276,559 | ||||||
Deutsche Telekom AG | 5,889,273 | 95,211,096 | ||||||
E.ON AG | 3,875,653 | 75,797,546 | ||||||
Muenchener Rueckversicherungs- Gesellschaft AG | 311,822 | 68,161,290 | ||||||
RWE AG | 935,055 | 37,966,255 | ||||||
SAP AG | 1,836,421 | 148,724,290 | ||||||
Siemens AG | 1,611,191 | 216,954,896 | ||||||
Volkswagen AG Preference Shares | 278,610 | 72,229,293 | ||||||
1,693,159,139 | ||||||||
IRELAND — 0.7% | ||||||||
CRH PLC | 1,431,866 | 39,854,200 | ||||||
ITALY — 8.5% | ||||||||
Assicurazioni Generali SpA | 2,587,840 | 57,709,034 | ||||||
Enel SpA | 12,343,433 | 69,886,657 | ||||||
ENI SpA | 5,182,777 | 130,076,946 | ||||||
Intesa Sanpaolo SpA | 27,057,646 | 91,738,785 | ||||||
UniCredit SpA | 10,467,805 | 95,652,652 | ||||||
445,064,074 | ||||||||
LUXEMBOURG — 0.0% (a) | ||||||||
APERAM (b) | 1 | 27 | ||||||
NETHERLANDS — 8.5% | ||||||||
Airbus Group NV | 1,124,593 | 80,582,931 | ||||||
ASML Holding NV | 743,442 | 68,887,126 | ||||||
ING Groep NV (b) | 7,479,922 | 105,927,022 | ||||||
Koninklijke Philips NV | 1,816,502 | 63,854,142 | ||||||
Unilever NV | 3,046,880 | 125,287,937 | ||||||
444,539,158 | ||||||||
SPAIN — 12.4% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 11,206,671 | 134,654,649 | ||||||
Banco Santander SA | 22,397,368 | 213,645,475 | ||||||
Iberdrola SA | 10,629,977 | 74,367,264 | ||||||
Industria de Diseno Textil SA | 410,590 | 61,626,019 | ||||||
Repsol YPF SA | 1,626,945 | 41,539,279 | ||||||
Telefonica SA | 7,708,358 | 122,017,112 | ||||||
647,849,798 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $4,432,876,409) | 5,232,700,471 | |||||||
RIGHTS — 0.1% | ||||||||
SPAIN — 0.1% | ||||||||
Banco Bilbao Vizcaya Argentaria SA (expiring 4/14/14) (b) (Cost $2,589,210) | 11,206,671 | 2,625,750 | ||||||
SHORT TERM INVESTMENT — 0.2% | ||||||||
UNITED STATES — 0.2% | ||||||||
MONEY MARKET FUND — 0.2% | ||||||||
State Street Institutional Liquid Reserves Fund 0.08% (c)(d) (Cost $13,203,483) | 13,203,483 | 13,203,483 | ||||||
TOTAL INVESTMENTS — 100.2% | ||||||||
(Cost $4,448,669,102) | 5,248,529,704 | |||||||
OTHER ASSETS & LIABILITIES — (0.2)% | (8,858,214 | ) | ||||||
NET ASSETS — 100.0% | $ | 5,239,671,490 | ||||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Non-income producing security | |||||
(c) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(d) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
See accompanying notes to financial statements.
114
SPDR S&P Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
CHINA — 28.2% | ||||||||
Agricultural Bank of China, Ltd. | 3,502,000 | $ | 1,525,936 | |||||
Air China, Ltd. | 1,309,414 | 773,118 | ||||||
Aluminum Corp. of China, Ltd. (a)(b) | 1,318,304 | 453,764 | ||||||
Angang Steel Co., Ltd. (a)(b) | 511,244 | 315,036 | ||||||
Anhui Conch Cement Co., Ltd. (b) | 893,750 | 3,830,991 | ||||||
Baidu, Inc. ADR (a) | 57,921 | 8,826,002 | ||||||
Bank of China, Ltd. | 12,759,466 | 5,658,409 | ||||||
Bank of Communications Co., Ltd. (b) | 2,219,630 | 1,450,748 | ||||||
Brilliance China Automotive Holdings, Ltd. | 308,000 | 470,911 | ||||||
BYD Co., Ltd. (a)(b) | 115,800 | 715,815 | ||||||
China Citic Bank Corp., Ltd. | 2,117,341 | 1,220,118 | ||||||
China Coal Energy Co., Ltd (b) | 823,000 | 463,644 | ||||||
China Communications Construction Co., Ltd. (Class H) | 876,000 | 610,949 | ||||||
China Construction Bank Corp. | 14,649,148 | 10,254,526 | ||||||
China COSCO Holdings Co., Ltd. (a)(b) | 1,217,230 | 503,711 | ||||||
China Fangda Group Co., Ltd. | 103,200 | 45,500 | ||||||
China Life Insurance Co., Ltd. | 1,766,708 | 4,999,225 | ||||||
China Longyuan Power Group Corp. | 606,000 | 610,137 | ||||||
China Merchants Bank Co., Ltd. (b) | 1,325,760 | 2,402,999 | ||||||
China Merchants Property Development Co., Ltd. | 382,184 | 925,276 | ||||||
China Minsheng Banking Corp., Ltd. (Class H) (b) | 923,000 | 925,731 | ||||||
China National Building Material Co., Ltd. (b) | 528,000 | 529,562 | ||||||
China Oilfield Services, Ltd. | 352,557 | 827,188 | ||||||
China Pacific Insurance Group Co., Ltd. | 204,200 | 729,187 | ||||||
China Petroleum & Chemical Corp. | 6,271,726 | 5,611,125 | ||||||
China Railway Construction Corp. (Class H) (b) | 304,000 | 257,087 | ||||||
China Railway Group, Ltd. | 875,000 | 407,210 | ||||||
China Shenhua Energy Co., Ltd. | 995,040 | 2,873,373 | ||||||
China Shipping Container Lines Co., Ltd. (a)(b) | 4,691,339 | 1,064,420 | ||||||
China Shipping Development Co., Ltd. (a)(b) | 781,215 | 445,140 | ||||||
China Telecom Corp., Ltd. | 4,717,320 | 2,183,198 | ||||||
Ctrip.com International, Ltd. ADR (a)(b) | 64,265 | 3,240,241 | ||||||
Dongfeng Motor Group Co., Ltd. | 580,468 | 821,645 | ||||||
Great Wall Motor Co., Ltd. (Class H) (b) | 90,000 | 451,331 | ||||||
Guangzhou Automobile Group Co., Ltd. | 1,080,032 | 1,134,743 | ||||||
Guangzhou R&F Properties Co., Ltd. (Class H) (b) | 738,176 | 1,063,911 | ||||||
Hengan International Group Co., Ltd. | 65,500 | 678,470 | ||||||
Huaneng Power International, Inc. | 1,618,472 | 1,548,148 | ||||||
Huangshan Tourism Development Co., Ltd. | 27,300 | 32,951 | ||||||
Industrial & Commercial Bank of China | 11,357,138 | 6,983,782 | ||||||
Inner Mongolia Yitai Coal Co., Ltd. (Class B) | 519,710 | 626,770 | ||||||
Jiangsu Expressway Co., Ltd. (b) | 1,546,299 | 1,762,175 | ||||||
Jiangsu Future Land Co., Ltd. | 167,203 | 83,936 | ||||||
Jiangxi Copper Co., Ltd. (Class H) (b) | 703,578 | 1,182,751 | ||||||
Konka Group Co., Ltd. | 239,800 | 90,577 | ||||||
Lao Feng Xiang Co., Ltd. | 76,300 | 194,565 | ||||||
Livzon Pharmaceutical Group, Inc. (Class H) (a) | 12,700 | 77,113 | ||||||
Luthai Textile Co., Ltd. | 67,300 | 90,317 | ||||||
Maanshan Iron & Steel (a)(b) | 1,328,971 | 292,965 | ||||||
Mindray Medical International, Ltd. ADR (b) | 14,817 | 479,478 | ||||||
NetEase, Inc. ADR | 44,586 | 3,000,638 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 17,997 | 528,212 | ||||||
PetroChina Co., Ltd. | 5,125,208 | 5,583,051 | ||||||
PICC Property & Casualty Co., Ltd. | 654,211 | 895,665 | ||||||
Ping An Insurance Group Co. of China, Ltd. | 410,364 | 3,401,603 | ||||||
Semiconductor Manufacturing International Corp. (a)(b) | 9,946,837 | 743,732 | ||||||
SGSB Group Co., Ltd. (a) | 108,500 | 61,736 | ||||||
Shandong Luoxin Pharmacy Stock Co., Ltd. | 40,000 | 51,463 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. | 104,000 | 118,519 | ||||||
Shanghai Electric Group Co., Ltd. | 2,270,418 | 804,900 | ||||||
Shanghai Highly Group Co., Ltd. | 145,000 | 79,750 | ||||||
Shenzhou International Group Holdings, Ltd. | 26,000 | 82,622 | ||||||
Sina Corp. (a)(b) | 18,161 | 1,097,106 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. | 2,420,878 | 624,175 | ||||||
Sinopharm Group Co. (b) | 62,400 | 170,941 | ||||||
Sohu.com, Inc. (a)(b) | 5,121 | 333,326 | ||||||
Tencent Holdings, Ltd. | 162,794 | 11,322,263 | ||||||
Tingyi Cayman Islands Holding Corp. | 784,383 | 2,249,892 | ||||||
Tong Ren Tang Technologies Co., Ltd. | 18,000 | 57,780 | ||||||
Want Want China Holdings, Ltd. | 1,371,000 | 2,046,678 | ||||||
Yanzhou Coal Mining Co., Ltd. (b) | 894,882 | 677,185 | ||||||
Youku Tudou, Inc. ADR (a)(b) | 1,734 | 48,621 | ||||||
Zhaojin Mining Industry Co., Ltd. (b) | 63,500 | 37,902 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (b) | 1,972,685 | 419,609 | ||||||
117,183,274 | ||||||||
HONG KONG — 8.6% | ||||||||
Agile Property Holdings, Ltd. (b) | 1,516,088 | 1,243,040 | ||||||
Beijing Enterprises Holdings, Ltd. | 98,000 | 878,040 | ||||||
Belle International Holdings, Ltd. | 534,000 | 532,138 | ||||||
C.banner International Holdings, Ltd. | 228,000 | 73,188 | ||||||
Cecep Costin New Materials Group, Ltd. | 15,000 | 7,909 | ||||||
Changshouhua Food Co., Ltd. | 99,000 | 107,333 | ||||||
China Everbright International, Ltd. | 142,000 | 194,409 | ||||||
China Haidian Holdings, Ltd. (a) | 570,000 | 66,133 | ||||||
China Leason CBM & Shale Gas Group Co., Ltd. (a) | 1,200,000 | 7,890 | ||||||
China Mengniu Dairy Co., Ltd. | 390,390 | 1,955,209 |
See accompanying notes to financial statements.
115
SPDR S&P Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
China Merchants Holdings International Co., Ltd. | 479,573 | $ | 1,647,614 | |||||
China Mobile, Ltd. | 1,029,136 | 9,419,645 | ||||||
China Overseas Land & Investment, Ltd. (b) | 1,205,084 | 3,122,603 | ||||||
China Resources Enterprise, Ltd. (b) | 486,746 | 1,374,200 | ||||||
China Resources Land, Ltd. (b) | 405,355 | 889,403 | ||||||
China Resources Power Holdings Co., Ltd. | 398,000 | 1,036,425 | ||||||
China Unicom (Hong Kong), Ltd. (b) | 1,108,172 | 1,457,172 | ||||||
China Yurun Food Group, Ltd. (a) | 238,659 | 123,067 | ||||||
Citic Pacific, Ltd. (b) | 261,000 | 462,980 | ||||||
CNOOC, Ltd. | 3,176,249 | 4,774,375 | ||||||
COSCO Pacific, Ltd. | 658,030 | 839,816 | ||||||
Evergrande Real Estate Group, Ltd. (b) | 204,000 | 96,253 | ||||||
Geely Automobile Holdings, Ltd. (b) | 100,000 | 39,319 | ||||||
GOME Electrical Appliances Holding, Ltd. (b) | 870,000 | 146,924 | ||||||
Huabao International Holdings, Ltd. (b) | 167,000 | 76,643 | ||||||
Kingboard Chemical Holdings, Ltd. | 154,200 | 300,963 | ||||||
Kunlun Energy Co., Ltd. (b) | 516,000 | 863,431 | ||||||
Lenovo Group, Ltd. (b) | 2,467,703 | 2,726,322 | ||||||
Lijun International Pharmaceutical Holding, Ltd. | 208,000 | 85,001 | ||||||
Magic Holdings International, Ltd. | 276,000 | 223,802 | ||||||
NVC Lighting Holdings, Ltd. | 142,000 | 39,907 | ||||||
Prince Frog International Holdings, Ltd. (b) | 109,000 | 32,178 | ||||||
Sino Biopharmaceutical | 224,000 | 190,877 | ||||||
Sino-Ocean Land Holdings, Ltd. (b) | 1,060,967 | 579,924 | ||||||
Skyworth Digital Holdings, Ltd. (b) | 160,763 | 88,287 | ||||||
Sunac China Holdings, Ltd. | 146,000 | 84,697 | ||||||
Sunny Optical Technology Group Co., Ltd. (b) | 46,000 | 44,772 | ||||||
TCL Multimedia Technology Holdings, Ltd. (b) | 58,000 | 22,356 | ||||||
Tonly Electronics Holdings, Ltd. (a) | 4,800 | 3,830 | ||||||
Yingde Gases | 65,000 | 62,008 | ||||||
35,920,083 | ||||||||
INDIA — 16.2% | ||||||||
Anant Raj, Ltd. (a) | 84,310 | 80,396 | ||||||
Apollo Hospitals Enterprise, Ltd. | 139,590 | 2,142,028 | ||||||
Axis Bank, Ltd. | 2,953 | 72,215 | ||||||
Bharat Heavy Electricals, Ltd. | 281,091 | 922,733 | ||||||
Bharti Airtel, Ltd. | 466,800 | 2,483,582 | ||||||
Cipla, Ltd. | 228,315 | 1,463,418 | ||||||
DLF, Ltd. | 91,886 | 271,477 | ||||||
Dr Reddy’s Laboratories, Ltd. | 10,458 | 448,964 | ||||||
GAIL India, Ltd. | 68,734 | 432,792 | ||||||
Godrej Industries, Ltd. | 26,871 | 141,998 | ||||||
Gujarat Mineral Development Corp., Ltd. | 63,310 | 139,823 | ||||||
HDFC Bank, Ltd. | 379,219 | 4,754,643 | ||||||
Hero Motocorp, Ltd. | 18,038 | 687,058 | ||||||
Hindalco Industries, Ltd. | 158,010 | 375,033 | ||||||
Hindustan Unilever, Ltd. | 289,686 | 2,937,241 | ||||||
Hindustan Zinc, Ltd. | 484,011 | 1,044,649 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 15,266 | 14,723 | ||||||
Housing Development Finance Corp., Ltd. | 215,315 | 3,186,687 | ||||||
ICICI Bank, Ltd. | 199 | 4,149 | ||||||
ICICI Bank, Ltd. ADR | 69,667 | 3,051,415 | ||||||
Idea Cellular, Ltd. | 635,539 | 1,462,679 | ||||||
IDFC, Ltd. | 16,596 | 33,972 | ||||||
IIFL Holdings, Ltd. | 158,253 | 207,082 | ||||||
Indiabulls Housing Finance, Ltd. | 155,648 | 619,100 | ||||||
Indiabulls Real Estate, Ltd. | 25,181 | 22,979 | ||||||
Indian Hotels Co., Ltd. | 745,971 | 908,068 | ||||||
Indian Oil Corp., Ltd. | 104,978 | 495,074 | ||||||
Infosys Technologies, Ltd. ADR (b) | 111,288 | 6,029,584 | ||||||
ITC, Ltd. GDR | 419,652 | 2,470,072 | ||||||
IVRCL Infrastructures & Projects, Ltd. (a) | 59,886 | 13,236 | ||||||
Jaiprakash Associates, Ltd. | 30,153 | 27,112 | ||||||
Jindal Steel & Power, Ltd. | 76,063 | 372,466 | ||||||
JSW Steel, Ltd. | 20,835 | 361,440 | ||||||
Lanco Infratech, Ltd. (a) | 281,017 | 33,408 | ||||||
Larsen & Toubro, Ltd. GDR | 44,341 | 944,463 | ||||||
Mahindra & Mahindra, Ltd. | 138,349 | 2,271,822 | ||||||
NTPC, Ltd. | 202,674 | 406,892 | ||||||
Oil & Natural Gas Corp., Ltd. | 421,609 | 2,249,852 | ||||||
Reliance Capital, Ltd. | 47,776 | 276,708 | ||||||
Reliance Communications, Ltd. | 282,203 | 609,083 | ||||||
Reliance Industries, Ltd. GDR (c) | 192,491 | 5,967,221 | ||||||
Reliance Infrastructure, Ltd. | 93,247 | 677,074 | ||||||
Sesa Sterlite, Ltd. | 220,980 | 697,656 | ||||||
Siemens India, Ltd. | 96,191 | 1,243,972 | ||||||
State Bank of India | 25,767 | 827,383 | ||||||
Steel Authority of India, Ltd. | 293,853 | 351,310 | ||||||
Sun Pharmaceutical Industries, Ltd. | 154,662 | 1,488,417 | ||||||
Suzlon Energy, Ltd. (a) | 191,121 | 35,522 | ||||||
Tata Consultancy Services, Ltd. | 115,390 | 4,121,465 | ||||||
Tata Motors, Ltd. | 411,388 | 2,746,031 | ||||||
Tata Steel, Ltd. | 49,024 | 323,379 | ||||||
Unitech, Ltd. (a) | 187,351 | 43,918 | ||||||
United Spirits, Ltd. | 15,418 | 683,467 | ||||||
Wipro, Ltd. ADR (b) | 162,275 | 2,174,485 | ||||||
Zee Entertainment Enterprises, Ltd. | 320,639 | 1,456,828 | ||||||
67,308,244 | ||||||||
INDONESIA — 5.4% | ||||||||
Ace Hardware Indonesia Tbk PT | 2,803,900 | 185,117 | ||||||
Adaro Energy Tbk PT | 3,694,700 | 318,733 | ||||||
Agung Podomoro Land Tbk PT | 854,500 | 21,287 | ||||||
AKR Corporindo Tbk PT | 156,200 | 66,481 | ||||||
Alam Sutera Realty Tbk PT | 748,000 | 39,178 | ||||||
Astra International Tbk PT | 4,036,600 | 2,620,592 | ||||||
Bank Central Asia Tbk PT | 2,613,096 | 2,438,276 | ||||||
Bank Mandiri Tbk PT | 1,705,905 | 1,419,085 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 4,770,796 | 4,021,159 | ||||||
Bekasi Fajar Industrial Estate Tbk PT | 1,348,600 | 67,074 | ||||||
Bumi Resources Tbk PT (a) | 4,626,764 | 109,560 | ||||||
BW Plantation Tbk PT | 448,700 | 51,940 | ||||||
Charoen Pokphand Indonesia Tbk PT | 441,100 | 155,123 | ||||||
Ciputra Property Tbk PT | 522,700 | 38,190 | ||||||
Ciputra Surya Tbk PT | 533,000 | 112,606 |
See accompanying notes to financial statements.
116
SPDR S&P Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Citra Marga Nusaphala Persada Tbk PT (a) | 360,500 | $ | 107,420 | |||||
Garda Tujuh Buana Tbk PT (a) | 127,500 | 7,127 | ||||||
Garuda Indonesia Tbk PT (a) | 4,113,900 | 179,983 | ||||||
Global Mediacom Tbk PT | 417,500 | 86,367 | ||||||
Gudang Garam Tbk PT | 119,600 | 520,092 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 407,725 | 838,959 | ||||||
Indomobil Sukses Internasional Tbk PT | 90,600 | 41,472 | ||||||
Indosat Tbk PT | 902,048 | 313,652 | ||||||
Intiland Development Tbk PT | 1,483,400 | 59,153 | ||||||
Kalbe Farma Tbk PT | 1,186,900 | 153,064 | ||||||
Kawasan Industri Jababeka Tbk PT | 7,539,444 | 169,903 | ||||||
Lippo Cikarang Tbk PT (a) | 383,900 | 253,455 | ||||||
Lippo Karawaci Tbk PT | 1,950,600 | 186,303 | ||||||
Matahari Putra Prima Tbk PT | 536,900 | 126,899 | ||||||
Mayora Indah Tbk PT | 85,800 | 226,585 | ||||||
Media Nusantara Citra Tbk PT | 544,600 | 126,083 | ||||||
Metropolitan Land Tbk PT | 2,455,500 | 105,915 | ||||||
Mitra Adiperkasa Tbk PT | 95,400 | 52,487 | ||||||
MNC Investama Tbk PT | 3,276,000 | 98,914 | ||||||
MNC Sky Vision Tbk PT | 284,400 | 59,709 | ||||||
Modernland Realty Tbk PT (a) | 6,719,900 | 263,827 | ||||||
Multistrada Arah Sarana Tbk PT (a) | 1,078,300 | 29,900 | ||||||
Pakuwon Jati Tbk PT | 2,682,900 | 82,660 | ||||||
Pembangunan Perumahan Persero PT Tbk | 707,600 | 113,988 | ||||||
Perusahaan Gas Negara Persero Tbk PT | 3,946,440 | 1,780,414 | ||||||
Ramayana Lestari Sentosa Tbk PT | 758,400 | 92,797 | ||||||
Selamat Sempurna Tbk PT | 701,800 | 247,113 | ||||||
Semen Gresik Persero Tbk PT | 651,900 | 906,692 | ||||||
Sigmagold Inti Perkasa Tbk PT (a) | 1,483,500 | 60,985 | ||||||
Summarecon Agung Tbk PT | 1,016,000 | 95,250 | ||||||
Surya Citra Media Tbk PT | 157,527 | 44,374 | ||||||
Surya Semesta Internusa Tbk PT | 1,616,000 | 135,852 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 10,185,870 | 1,986,065 | ||||||
Tiga Pilar Sejahtera Food Tbk | 1,073,800 | 194,721 | ||||||
Tower Bersama Infrastructure Tbk PT | 385,400 | 203,556 | ||||||
United Tractors Tbk PT | 333,245 | 608,700 | ||||||
Wijaya Karya Persero Tbk PT | 583,200 | 122,698 | ||||||
XL Axiata Tbk PT | 126,200 | 48,880 | ||||||
22,396,415 | ||||||||
MALAYSIA — 6.5% | ||||||||
Aeon Credit Service M Bhd | 52,400 | 235,884 | ||||||
AirAsia Bhd | 78,300 | 61,144 | ||||||
Alliance Financial Group Bhd | 1,406,110 | 1,898,927 | ||||||
Axiata Group Bhd | 565,900 | 1,155,888 | ||||||
Bursa Malaysia Bhd | 488,534 | 1,129,515 | ||||||
Carlsberg Brewery Malay Bhd | 516,203 | 2,058,173 | ||||||
CB Industrial Product Holding Bhd | 36,800 | 50,036 | ||||||
CIMB Group Holdings Bhd | 474,603 | 1,039,170 | ||||||
ECM Libra Financial Group Bhd (a) | 1,274,131 | 401,885 | ||||||
Genting Bhd | 771,000 | 2,361,047 | ||||||
Genting Malaysia Bhd | 684,800 | 880,772 | ||||||
IJM Corp. Bhd | 1,087,540 | 2,044,862 | ||||||
IOI Corp. Bhd | 1,341,996 | 1,972,617 | ||||||
IOI Properties Group Sdn Bhd (a) | 658,497 | 536,396 | ||||||
K&N Kenanga Holdings Bhd (a) | 73 | 14 | ||||||
Landmarks Bhd (a) | 1,367,200 | 422,867 | ||||||
Lingkaran Trans Kota Holdings Bhd | 80,600 | 94,780 | ||||||
Malayan Banking Bhd | 551,946 | 1,636,147 | ||||||
Malaysian Airline System Bhd (a) | 10,605,630 | 682,034 | ||||||
Maxis Bhd | 462,800 | 986,400 | ||||||
OSK Holdings Bhd | 1,645,225 | 841,380 | ||||||
Padini Holdings Bhd | 86,700 | 50,711 | ||||||
PPB Group Bhd | 130,600 | 664,698 | ||||||
Public Bank Bhd | 216,800 | 1,272,053 | ||||||
Sime Darby Bhd | 432,394 | 1,232,763 | ||||||
TAN Chong Motor Holdings Bhd | 542,700 | 919,042 | ||||||
Tenaga Nasional Bhd | 414,750 | 1,519,035 | ||||||
Wah Seong Corp. Bhd | 1,349,611 | 789,391 | ||||||
26,937,631 | ||||||||
PHILIPPINES — 2.2% | ||||||||
Ayala Land, Inc. | 4,574,375 | 3,049,923 | ||||||
Cebu Air, Inc. | 74,120 | 79,252 | ||||||
Cebu Holdings, Inc. | 1,114,900 | 124,306 | ||||||
First Gen Corp. | 5,239,170 | 2,191,701 | ||||||
First Philippine Holdings Corp. | 1,029,344 | 1,664,119 | ||||||
GMA Holdings, Inc. | 208,300 | 36,137 | ||||||
Megawide Construction Corp. (a) | 1,109,850 | 295,003 | ||||||
Philippine Long Distance Telephone Co. | 28,859 | 1,756,831 | ||||||
Philweb Corp. | 107,100 | 12,180 | ||||||
Puregold Price Club, Inc. | 79,100 | 77,610 | ||||||
9,287,062 | ||||||||
TAIWAN — 27.4% | ||||||||
Acer, Inc. (a) | 866,456 | 510,726 | ||||||
Advanced Semiconductor Engineering, Inc. | 2,524,636 | 2,802,157 | ||||||
Asia Cement Corp. | 1,317,719 | 1,644,309 | ||||||
Asustek Computer, Inc. | 193,138 | 1,912,195 | ||||||
AU Optronics Corp. ADR (a) | 223,202 | 776,743 | ||||||
Catcher Technology Co., Ltd. | 245,539 | 1,777,895 | ||||||
Cathay Financial Holding Co., Ltd. | 1,718,290 | 2,505,281 | ||||||
Chang Hwa Commercial Bank | 3,449,073 | 2,044,357 | ||||||
China Development Financial Holding Corp. | 4,200,272 | 1,201,358 | ||||||
China Steel Chemical Corp. | 34,877 | 199,281 | ||||||
China Steel Corp. | 2,701,476 | 2,275,441 | ||||||
Chinatrust Financial Holding Co., Ltd. | 4,305,662 | 2,693,469 | ||||||
Chunghwa Picture Tubes, Ltd. (a) | 1,668,368 | 102,998 | ||||||
Chunghwa Telecom Co., Ltd. | 714,268 | 2,197,748 | ||||||
Coland Holdings, Ltd. | 44,411 | 118,857 | ||||||
Compal Electronics, Inc. | 1,819,431 | 1,290,525 | ||||||
Delta Electronics, Inc. | 557,893 | 3,444,180 | ||||||
Epistar Corp. (a) | 249,170 | 598,123 | ||||||
Everlight Electronics Co., Ltd. | 221,996 | 562,781 | ||||||
Far Eastern New Century Corp. | 1,866,370 | 1,982,664 | ||||||
First Financial Holding Co., Ltd | 2,846,860 | 1,692,083 | ||||||
Formosa Chemicals & Fibre Corp. | 958,691 | 2,317,040 | ||||||
Formosa Petrochemical Corp. | 346,000 | 880,552 | ||||||
Formosa Plastics Corp. | 1,440,137 | 3,603,594 | ||||||
Foxconn Technology Co., Ltd. | 445,307 | 1,049,932 | ||||||
Fubon Financial Holding Co., Ltd. | 2,108,998 | 2,860,245 | ||||||
Hon Hai Precision Industry Co., Ltd. | 2,399,808 | 6,800,868 | ||||||
HTC Corp. | 159,710 | 802,418 |
See accompanying notes to financial statements.
117
SPDR S&P Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Hua Nan Financial Holdings Co., Ltd. | 2,632,864 | $ | 1,491,401 | |||||
Innolux Corp. (a) | 227,928 | 78,215 | ||||||
King Yuan Electronics Co., Ltd. | 2,544,898 | 2,110,128 | ||||||
Largan Precision Co., Ltd. | 44,710 | 2,114,191 | ||||||
Lite-On Technology Corp. | 784,681 | 1,169,839 | ||||||
Macronix International Co., Ltd. (a) | 1,876,374 | 388,800 | ||||||
MediaTek, Inc. | 279,219 | 4,121,466 | ||||||
Mega Financial Holding Co., Ltd. | 2,560,986 | 1,984,706 | ||||||
Motech Industries, Inc. (a) | 144,507 | 254,349 | ||||||
Nan Ya Plastics Corp. | 1,427,759 | 3,024,069 | ||||||
Novatek Microelectronics Corp. | 213,062 | 976,017 | ||||||
Pegatron Corp. | 444,630 | 662,145 | ||||||
Powertech Technology, Inc. | 488,518 | 738,733 | ||||||
ProMOS Technologies, Inc. (a)(d) | 1,135,850 | 0 | ||||||
Quanta Computer, Inc. | 1,082,194 | 2,914,043 | ||||||
Realtek Semiconductor Corp. | 408,161 | 1,230,414 | ||||||
Shin Kong Financial Holding Co., Ltd. | 2,974,261 | 939,574 | ||||||
Siliconware Precision Industries Co. | 962,745 | 1,280,393 | ||||||
SinoPac Financial Holdings Co., Ltd. | 3,468,495 | 1,668,613 | ||||||
Synnex Technology International Corp. | 285,000 | 458,583 | ||||||
Tainan Enterprises Co., Ltd. | 944,567 | 1,049,950 | ||||||
Taishin Financial Holdings Co., Ltd. | 3,619,355 | 1,640,164 | ||||||
Taiwan Cement Corp. | 1,629,216 | 2,514,511 | ||||||
Taiwan FU Hsing Industrial Co., Ltd. | 1,918,000 | 1,977,677 | ||||||
Taiwan Mobile Co., Ltd. | 362,200 | 1,134,681 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 794,448 | 15,904,849 | ||||||
Tatung Co., Ltd. (a) | 987,107 | 307,615 | ||||||
Tripod Technology Corp. | 504,361 | 992,077 | ||||||
Uni-President Enterprises Corp. | 1,949,943 | 3,393,711 | ||||||
United Integrated Services Co., Ltd. | 1,411,000 | 1,772,293 | ||||||
United Microelectronics Corp. ADR (b) | 749,191 | 1,558,317 | ||||||
Via Technologies, Inc. (a) | 223,490 | 178,704 | ||||||
Walsin Lihwa Corp. (a) | 651,000 | 207,148 | ||||||
Wistron Corp. | 938,500 | 772,003 | ||||||
Yageo Corp. (a) | 2,897,900 | 1,327,500 | ||||||
Yuanta Financial Holding Co., Ltd. | 2,185,823 | 1,101,794 | ||||||
114,086,493 | ||||||||
THAILAND — 4.9% | ||||||||
Advanced Info Service PCL | 531,123 | 3,700,179 | ||||||
Bangkok Expressway PCL | 1,969,642 | 2,003,643 | ||||||
BEC World PCL | 41,600 | 69,889 | ||||||
Big C Supercenter PCL | 6,800 | 38,465 | ||||||
Central Plaza Hotel PCL | 64,700 | 60,332 | ||||||
CP ALL PCL | 998,100 | 1,338,389 | ||||||
Electricity Generating PCL | 495,646 | 2,001,530 | ||||||
IRPC PCL | 4,032,339 | 427,597 | ||||||
Jasmine International PCL | 437,800 | 106,616 | ||||||
Kasikornbank PCL | 242,154 | 1,380,965 | ||||||
PTT Exploration & Production PCL | 561,153 | 2,715,814 | ||||||
PTT PCL | 305,126 | 2,774,728 | ||||||
Siam Cement PCL NVDR | 66,000 | 850,432 | ||||||
Siam Commercial Bank PCL | 319,397 | 1,550,710 | ||||||
Siam Global House PCL | 170,955 | 75,886 | ||||||
Thai Beverage PCL (b) | 851,000 | 409,411 | ||||||
Thai Oil PCL | 577,605 | 943,683 | ||||||
20,448,269 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $387,590,089) | 413,567,471 | |||||||
PREFERRED STOCKS — 0.0% (e) | ||||||||
INDIA — 0.0% (e) | ||||||||
Zee Entertainment Enterprises, Ltd. (Cost $32,553) | 6,481,083 | 77,049 | ||||||
SHORT TERM INVESTMENTS — 6.0% | ||||||||
UNITED STATES — 6.0% | ||||||||
MONEY MARKET FUNDS — 6.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (f)(g) | 24,195,413 | 24,195,413 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (g)(h) | 451,257 | 451,257 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $24,646,670) | 24,646,670 | |||||||
TOTAL INVESTMENTS — 105.4% | ||||||||
(Cost $412,269,312) | 438,291,190 | |||||||
OTHER ASSETS & LIABILITIES — (5.4)% | (22,291,621 | ) | ||||||
NET ASSETS — 100.0% | $ | 415,999,569 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 1.4% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (Note 2). | |||||
(e) | Amount shown represents less than 0.05% of net assets. | |||||
(f) | Investments of cash collateral for securities loaned | |||||
(g) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(h) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
See accompanying notes to financial statements.
118
SPDR S&P Small Cap Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 98.9% | ||||||||
CHINA — 9.0% | ||||||||
51job, Inc. ADR (a) | 201 | $ | 14,321 | |||||
Anhui Expressway Co., Ltd. | 16,000 | 8,230 | ||||||
BYD Electronic International Co., Ltd. (a)(b) | 13,000 | 7,609 | ||||||
China Galaxy Securities Co., Ltd. Class H (a)(b) | 24,000 | 14,603 | ||||||
China Huiyuan Juice Group, Ltd. (a) | 11,000 | 7,998 | ||||||
China Lesso Group Holdings, Ltd. | 18,000 | 9,978 | ||||||
China National Accord Medicines Corp., Ltd. | 1,600 | 8,020 | ||||||
China SCE Property Holdings, Ltd. | 24,000 | 5,198 | ||||||
China Shanshui Cement Group, Ltd. | 22,000 | 9,274 | ||||||
China Suntien Green Energy Corp., Ltd. (Class H) | 28,000 | 9,277 | ||||||
China Vanadium Titano — Magnetite Mining Co., Ltd. (a) | 24,000 | 2,692 | ||||||
Coolpad Group, Ltd. | 16,000 | 7,859 | ||||||
Dongyue Group | 12,000 | 4,888 | ||||||
E-Commerce China Dangdang, Inc. ADR (a) | 806 | 11,574 | ||||||
E-House China Holdings, Ltd. ADR | 983 | 11,884 | ||||||
First Tractor Co., Ltd. (b) | 20,000 | 10,880 | ||||||
Giant Interactive Group, Inc. ADR | 1,611 | 18,639 | ||||||
Hangzhou Steam Turbine Co. | 6,200 | 7,146 | ||||||
Harbin Electric Co., Ltd. (b) | 8,000 | 4,527 | ||||||
Home Inns & Hotels Management, Inc. ADR (a) | 195 | 6,297 | ||||||
Huangshan Tourism Development Co., Ltd. | 5,600 | 6,759 | ||||||
Hunan Non-Ferrous Metal Corp., Ltd. (a)(b) | 20,000 | 5,724 | ||||||
Jiangsu Future Land Co., Ltd. | 16,900 | 8,484 | ||||||
Lonking Holdings, Ltd. (a)(b) | 28,000 | 5,487 | ||||||
MIE Holdings Corp. (b) | 20,000 | 3,764 | ||||||
Peak Sport Products Co., Ltd. | 14,000 | 3,772 | ||||||
Ports Design, Ltd. | 4,000 | 2,094 | ||||||
Renhe Commercial Holdings Co., Ltd. (a)(b) | 116,000 | 7,178 | ||||||
Renren, Inc. ADR (a) | 1,088 | 3,558 | ||||||
REXLot Holdings, Ltd. (b) | 101,322 | 11,756 | ||||||
Shanghai Chlor-Alkali Chemical Co., Ltd. (a) | 13,700 | 6,261 | ||||||
Shanghai Dajiang Group, Class B (a) | 19,300 | 7,160 | ||||||
Shanghai Diesel Engine Co., Ltd. Class B | 7,120 | 4,948 | ||||||
Shanghai Haixin Group Co. (a) | 11,700 | 5,768 | ||||||
Shenguan Holdings Group, Ltd. (b) | 16,000 | 6,642 | ||||||
Sinopec Engineering Group Co., Ltd. | 26,000 | 28,155 | ||||||
TCL Communication Technology Holdings, Ltd. (a) | 8,000 | 9,385 | ||||||
Trina Solar, Ltd. ADR (a) | 1,007 | 13,544 | ||||||
WuXi PharmaTech Cayman, Inc. ADR (a) | 693 | 25,544 | ||||||
Zhejiang Southeast Electric Power Co. (a) | 1,517 | 1,344 | ||||||
Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H | 54,000 | 30,839 | ||||||
379,060 | ||||||||
HONG KONG — 11.8% | ||||||||
361 Degrees International, Ltd. (b) | 10,000 | 2,282 | ||||||
Ajisen China Holdings, Ltd. | 8,000 | 7,219 | ||||||
Anxin-China Holdings, Ltd. | 32,000 | 4,950 | ||||||
Asian Citrus Holdings, Ltd. (a)(b) | 8,171 | 1,738 | ||||||
Beijing Capital Land, Ltd. | 24,000 | 8,818 | ||||||
Boshiwa International Holding, Ltd. (a)(b)(c) | 32,000 | 0 | ||||||
CGN Mining Co., Ltd. (a) | 30,000 | 2,785 | ||||||
Chailease Holding Co., Ltd. | 400 | 960 | ||||||
China Dongxiang Group Co. (b) | 40,000 | 7,941 | ||||||
China High Speed Transmission Equipment Group Co., Ltd. (a)(b) | 16,000 | 11,943 | ||||||
China Lilang, Ltd. | 8,000 | 5,714 | ||||||
China Lumena New Materials Corp. (b) | 55,260 | 8,905 | ||||||
China Medical System Holdings, Ltd. | 17,500 | 19,808 | ||||||
China Metal Recycling Holdings, Ltd. (a)(b)(c) | 3,988 | 0 | ||||||
China Modern Dairy Holdings, Ltd. (a)(b) | 38,000 | 16,313 | ||||||
China National Materials Co., Ltd. | 16,000 | 2,867 | ||||||
China Oil and Gas Group, Ltd. (b) | 40,000 | 6,807 | ||||||
China Precious Metal Resources Holdings Co., Ltd. (a)(b) | 40,000 | 4,847 | ||||||
China Rongsheng Heavy Industries Group Holdings, Ltd. (a)(b) | 41,500 | 6,580 | ||||||
China Shineway Pharmaceutical Group, Ltd. | 6,000 | 10,473 | ||||||
China Travel International Investment Hong Kong, Ltd. | 48,000 | 9,591 | ||||||
China Yurun Food Group, Ltd. (a)(b) | 14,000 | 7,219 | ||||||
China ZhengTong Auto Services Holdings, Ltd. (a)(b) | 10,000 | 5,556 | ||||||
Citic Resources Holdings, Ltd. (a) | 44,000 | 5,842 | ||||||
Comba Telecom Systems Holdings, Ltd. (a)(b) | 12,000 | 3,140 | ||||||
Cosco International Holdings, Ltd. | 16,000 | 6,415 | ||||||
Dah Chong Hong Holdings, Ltd. (b) | 10,000 | 6,510 | ||||||
Digital China Holdings, Ltd. | 8,000 | 8,065 | ||||||
Fufeng Group, Ltd. | 14,200 | 5,400 | ||||||
Global Bio-Chem Technology Group Co., Ltd. (a) | 28,000 | 1,155 | ||||||
Glorious Property Holdings, Ltd. (a)(b) | 36,000 | 4,919 | ||||||
GOME Electrical Appliances Holding, Ltd. (b) | 113,000 | 19,083 | ||||||
Greatview Aseptic Packaging Co., Ltd. | 14,000 | 7,436 | ||||||
Guangdong Land Holdings, Ltd. | 16,000 | 3,692 | ||||||
Hanergy Solar Group, Ltd. (a)(b) | 124,000 | 19,502 | ||||||
Hengdeli Holdings, Ltd. (b) | 25,200 | 4,841 | ||||||
Hidili Industry International Development, Ltd. (a) | 18,000 | 2,088 | ||||||
Hua Han Bio-Pharmaceutical Holdings, Ltd. (b) | 33,280 | 7,336 | ||||||
Ju Teng International Holdings, Ltd. | 12,000 | 8,493 | ||||||
Kaisa Group Holdings, Ltd. (a)(b) | 28,000 | 10,071 | ||||||
Kingboard Laminates Holdings, Ltd. | 13,000 | 4,760 | ||||||
Kingdee International Software Group Co., Ltd. (a) | 20,000 | 7,658 | ||||||
KWG Property Holding, Ltd. | 18,000 | 9,885 | ||||||
Li Ning Co., Ltd. (a)(b) | 10,000 | 6,755 | ||||||
Minth Group, Ltd. | 8,000 | 16,295 | ||||||
NetDragon Websoft, Inc. | 4,000 | 7,230 | ||||||
North Mining Shares Co., Ltd. (a) | 120,000 | 5,724 | ||||||
NVC Lighting Holdings, Ltd. | 22,000 | 6,183 |
See accompanying notes to financial statements.
119
SPDR S&P Small Cap Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Pacific Online, Ltd. | 10,000 | $ | 6,201 | |||||
Real Nutriceutical Group, Ltd. (b) | 10,000 | 2,243 | ||||||
Sany Heavy Equipment International Holdings Co., Ltd. (b) | 12,000 | 2,692 | ||||||
Shenzhen Investment, Ltd. | 330 | 107 | ||||||
Shougang Concord International Enterprises Co., Ltd. (a) | 112,000 | 5,414 | ||||||
Shougang Fushan Resources Group, Ltd. (b) | 48,000 | 14,603 | ||||||
Sinotrans Shipping, Ltd. | 25,000 | 7,445 | ||||||
Sinotrans, Ltd. | 32,000 | 16,089 | ||||||
Sinotruk Hong Kong, Ltd. | 11,000 | 5,942 | ||||||
Skyworth Digital Holdings, Ltd. (b) | 20,445 | 11,228 | ||||||
Springland International Holdings, Ltd. | 16,000 | 7,095 | ||||||
The United Laboratories International Holdings, Ltd. (a)(b) | 12,500 | 7,461 | ||||||
Tianjin Port Development Holdings, Ltd. | 48,000 | 7,735 | ||||||
Tianneng Power International, Ltd. | 12,000 | 4,053 | ||||||
United Energy Group, Ltd. (a)(b) | 48,000 | 7,425 | ||||||
VODone, Ltd. (a) | 39,200 | 4,245 | ||||||
Wasion Group Holdings, Ltd. | 12,000 | 8,539 | ||||||
West China Cement, Ltd. (b) | 44,000 | 4,935 | ||||||
Winsway Coking Coal Holding, Ltd. (a) | 28,000 | 1,318 | ||||||
Yingde Gases (b) | 16,000 | 15,264 | �� | |||||
Yip’s Chemical Holdings, Ltd. | 8,241 | 5,694 | ||||||
Yuexiu Transport Infrastructure, Ltd. | 12,000 | 6,188 | ||||||
493,710 | ||||||||
INDIA — 13.1% | ||||||||
Amtek Auto, Ltd. | 2,570 | 6,846 | ||||||
Apollo Hospitals Enterprise, Ltd. | 727 | 11,156 | ||||||
Arvind, Ltd. | 3,430 | 9,990 | ||||||
Aurobindo Pharma, Ltd. | 2,558 | 21,908 | ||||||
Bajaj Holdings and Investment, Ltd. | 632 | 10,845 | ||||||
Bharat Forge, Ltd. | 1,936 | 13,673 | ||||||
Bhushan Steel, Ltd. | 1,321 | 10,014 | ||||||
Biocon, Ltd. | 1,164 | 8,272 | ||||||
Coromandel International, Ltd. | 4,850 | 18,207 | ||||||
Crompton Greaves, Ltd. | 2,411 | 6,475 | ||||||
Dewan Housing Finance Corp., Ltd. | 1,412 | 5,172 | ||||||
Dish TV India, Ltd. (a) | 6,035 | 5,265 | ||||||
Era Infra Engineering, Ltd. (a) | 1,036 | 232 | ||||||
Fortis Healthcare, Ltd. (a) | 3,118 | 5,101 | ||||||
Gateway Distriparks, Ltd. | 1,041 | 2,889 | ||||||
GMR Infrastructure, Ltd. | 17,264 | 6,316 | ||||||
Godrej Industries, Ltd. | 1,134 | 5,993 | ||||||
Hexaware Technologies, Ltd. | 1,680 | 4,234 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 4,339 | 4,185 | ||||||
IDFC, Ltd. | 18,629 | 38,133 | ||||||
IFCI, Ltd. | 13,038 | 5,796 | ||||||
IIFL Holdings, Ltd. | 3,738 | 4,891 | ||||||
India Cements, Ltd. | 3,867 | 3,940 | ||||||
Indiabulls Housing Finance, Ltd. | 2,629 | 10,457 | ||||||
Indiabulls Real Estate, Ltd. | 5,283 | 4,821 | ||||||
Indian Hotels Co., Ltd. | 9,201 | 11,200 | ||||||
Jain Irrigation Systems, Ltd. | 3,259 | 3,572 | ||||||
JSW Energy, Ltd. | 7,406 | 7,347 | ||||||
JSW Steel, Ltd. | 2,135 | 37,037 | ||||||
Jubilant Foodworks, Ltd. (a) | 202 | 3,599 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 3,716 | 15,680 | ||||||
Manappuram Finance, Ltd. | 4,294 | 1,546 | ||||||
MAX India, Ltd. | 1,583 | 5,515 | ||||||
McLeod Russel India, Ltd. | 1,337 | 6,848 | ||||||
Motherson Sumi Systems, Ltd. | 3,108 | 13,299 | ||||||
Mphasis, Ltd. | 1,108 | 7,495 | ||||||
Pipavav Defence & Offshore Engineering Co., Ltd. (a) | 1,446 | 857 | ||||||
Piramal Healthcare, Ltd. | 997 | 9,157 | ||||||
PTC India, Ltd. | 6,742 | 7,654 | ||||||
Punj Lloyd, Ltd. (a) | 7,289 | 3,454 | ||||||
Rajesh Exports, Ltd. | 2,939 | 4,345 | ||||||
REI Agro, Ltd. | 11,600 | 864 | ||||||
Rolta India, Ltd. | 17,989 | 22,079 | ||||||
Shriram Transport Finance Co., Ltd. | 2,761 | 35,482 | ||||||
Sintex Industries, Ltd. | 5,289 | 3,852 | ||||||
Strides Arcolab, Ltd. | 143 | 927 | ||||||
Suzlon Energy, Ltd. (a) | 14,569 | 2,708 | ||||||
Tata Chemicals, Ltd. | 890 | 4,280 | ||||||
Tata Global Beverages, Ltd. | 3,841 | 9,650 | ||||||
Tata Motors, Ltd. Class A | 11,878 | 40,255 | ||||||
Thermax, Ltd. | 848 | 10,624 | ||||||
Unitech, Ltd. (a) | 17,967 | 4,212 | ||||||
UPL, Ltd. | 3,954 | 12,212 | ||||||
Videocon Industries, Ltd. | 1,327 | 3,570 | ||||||
Voltas, Ltd. | 3,575 | 9,631 | ||||||
Welspun Corp., Ltd. | 3,962 | 4,561 | ||||||
Yes Bank, Ltd. | 2,737 | 18,971 | ||||||
547,294 | ||||||||
INDONESIA — 6.0% | ||||||||
Ace Hardware Indonesia Tbk PT | 90,600 | 5,982 | ||||||
AKR Corporindo Tbk PT | 14,100 | 6,001 | ||||||
Alam Sutera Realty Tbk PT | 151,100 | 7,914 | ||||||
Aneka Tambang Persero Tbk PT | 41,300 | 4,126 | ||||||
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | 114,800 | 10,560 | ||||||
Bank Tabungan Negara Tbk PT | 31,024 | 3,509 | ||||||
Bisi International PT | 27,200 | 1,580 | ||||||
Borneo Lumbung Energi & Metal Tbk PT (a) | 147,000 | 1,605 | ||||||
Bumi Resources Tbk PT (a) | 183,300 | 4,341 | ||||||
Bumi Serpong Damai PT | 86,600 | 12,464 | ||||||
Ciputra Development Tbk PT | 131,900 | 13,469 | ||||||
Energi Mega Persada Tbk PT (a) | 447,100 | 3,896 | ||||||
Gajah Tunggal Tbk PT | 27,200 | 5,088 | ||||||
Garda Tujuh Buana Tbk PT (a) | 5,500 | 307 | ||||||
Garuda Indonesia Tbk PT (a) | 112,800 | 4,935 | ||||||
Global Mediacom Tbk PT | 94,700 | 19,590 | ||||||
Harum Energy Tbk PT | 9,100 | 1,750 | ||||||
Indah Kiat Pulp & Paper Corp. Tbk PT (a) | 40,300 | 5,286 | ||||||
Indika Energy Tbk PT | 31,200 | 1,607 | ||||||
Indomobil Sukses Internasional Tbk PT | 10,100 | 4,623 | ||||||
Japfa Comfeed Indonesia Tbk PT | 80,600 | 10,004 | ||||||
Kawasan Industri Jababeka Tbk PT | 267,912 | 6,037 | ||||||
Matahari Putra Prima Tbk PT | 39,300 | 9,289 | ||||||
Mayora Indah Tbk PT | 5,917 | 15,626 | ||||||
Medco Energi Internasional Tbk PT | 25,200 | 6,034 | ||||||
Mitra Adiperkasa Tbk PT | 12,100 | 6,657 |
See accompanying notes to financial statements.
120
SPDR S&P Small Cap Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
MNC Investama Tbk PT | 225,600 | $ | 6,812 | |||||
Pakuwon Jati Tbk PT | 311,200 | 9,588 | ||||||
Pembangunan Perumahan Persero PT Tbk | 72,500 | 11,679 | ||||||
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | 45,300 | 8,813 | ||||||
Ramayana Lestari Sentosa Tbk PT | 51,400 | 6,289 | ||||||
Sentul City Tbk PT (a) | 220,500 | 3,513 | ||||||
Summarecon Agung Tbk PT | 151,100 | 14,166 | ||||||
Surya Semesta Internusa Tbk PT | 45,300 | 3,808 | ||||||
Timah Tbk PT | 40,300 | 6,918 | ||||||
Trada Maritime Tbk PT (a) | 54,400 | 8,237 | ||||||
252,103 | ||||||||
JERSEY — 0.6% | ||||||||
WNS Holdings, Ltd. ADR (a) | 1,325 | 23,850 | ||||||
MALAYSIA — 7.9% | ||||||||
Aeon Co. M Bhd | 1,800 | 7,926 | ||||||
Berjaya Corp. Bhd | 34,200 | 5,551 | ||||||
Berjaya Sports Toto Bhd | 16,680 | 20,278 | ||||||
Boustead Holdings Bhd | 4,600 | 7,635 | ||||||
Bursa Malaysia Bhd | 8,100 | 18,728 | ||||||
CapitaMalls Malaysia Trust | 12,300 | 5,537 | ||||||
Carlsberg Brewery Malay Bhd | 1,600 | 6,379 | ||||||
Dialog Group Bhd | 22,000 | 24,186 | ||||||
DRB-Hicom Bhd | 3,200 | 2,420 | ||||||
Eastern & Oriental Bhd | 12,700 | 8,245 | ||||||
Guinness Anchor Bhd | 5,000 | 21,559 | ||||||
Hartalega Holdings Bhd | 10,100 | 21,187 | ||||||
IGB Corp. Bhd | 17,300 | 14,357 | ||||||
KNM Group Bhd (a) | 1,885 | 447 | ||||||
Kossan Rubber Industries | 12,100 | 15,785 | ||||||
KPJ Healthcare Bhd | 18,243 | 16,704 | ||||||
Magnum Bhd | 17,100 | 15,657 | ||||||
Malaysian Bulk Carriers Bhd | 15,900 | 9,982 | ||||||
Malaysian Resources Corp. Bhd | 17,300 | 8,688 | ||||||
Media Prima Bhd | 13,900 | 10,046 | ||||||
MPHB Capital Bhd (a) | 50 | 28 | ||||||
Oriental Holdings Bhd | 5,000 | 11,009 | ||||||
Parkson Holdings Bhd | 7,300 | 6,706 | ||||||
Sunway Bhd | 10,966 | 10,175 | ||||||
Sunway Real Estate Investment Trust | 28,200 | 11,745 | ||||||
TAN Chong Motor Holdings Bhd | 6,000 | 10,161 | ||||||
Top Glove Corp. Bhd | 6,600 | 10,005 | ||||||
TSH Resources Bhd | 8,100 | 7,838 | ||||||
United Plantations Bhd | 800 | 6,149 | ||||||
UOA Development Bhd | 10,300 | 6,845 | ||||||
Wah Seong Corp. Bhd | 16,178 | 9,463 | ||||||
331,421 | ||||||||
PHILIPPINES — 4.0% | ||||||||
Belle Corp. (a) | 60,400 | 7,529 | ||||||
Cebu Air, Inc. | 4,390 | 4,694 | ||||||
Cosco Capital, Inc. (a) | 98,100 | 20,782 | ||||||
D&L Industries, Inc. | 221,500 | 41,045 | ||||||
First Philippine Holdings Corp. | 5,140 | 8,310 | ||||||
GMA Holdings, Inc. | 47,030 | 8,159 | ||||||
Lepanto Consolidated Mining (a) | 196,000 | 1,726 | ||||||
Megaworld Corp. | 193,000 | 18,032 | ||||||
Nickel Asia Corp. | 16,875 | 7,443 | ||||||
Philippine National Bank (a) | 4,631 | 8,468 | ||||||
Rizal Commercial Banking Corp. | 9,900 | 10,376 | ||||||
Robinsons Land Corp. | 14,100 | 6,886 | ||||||
Security Bank Corp. | 2,780 | 6,571 | ||||||
Semirara Mining Corp. | 2,110 | 19,291 | ||||||
169,312 | ||||||||
SINGAPORE — 0.8% | ||||||||
Asian Pay Television Trust | 42,000 | 24,715 | ||||||
Yanlord Land Group, Ltd. (b) | 8,000 | 6,807 | ||||||
31,522 | ||||||||
TAIWAN — 39.0% | ||||||||
Ability Enterprise Co., Ltd. | 6,000 | 3,832 | ||||||
Accton Technology Corp. | 12,000 | 6,699 | ||||||
Acer, Inc. (a) | 26,000 | 15,325 | ||||||
Adlink Technology, Inc. | 3,600 | 6,998 | ||||||
AGV Products Corp. (a) | 16,000 | 5,254 | ||||||
Airtac International Group | 2,070 | 21,446 | ||||||
Alpha Networks, Inc. | 6,000 | 5,113 | ||||||
Altek Corp. | 6,000 | 6,719 | ||||||
AmTRAN Technology Co., Ltd. | 6,000 | 3,832 | ||||||
Apex Biotechnology Corp. | 2,025 | 4,542 | ||||||
Asia Polymer | 7,800 | 5,917 | ||||||
Aten International Co., Ltd. | 2,000 | 6,541 | ||||||
Bank of Kaohsiung | 14,180 | 4,470 | ||||||
Basso Industry Corp. | 6,000 | 7,507 | ||||||
BES Engineering Corp. | 26,000 | 7,291 | ||||||
Capital Securities Corp. | 34,000 | 12,505 | ||||||
Career Technology Co., Ltd. | 4,000 | 4,427 | ||||||
Cathay No. 1 REIT | 14,000 | 8,266 | ||||||
Cathay Real Estate Development Co., Ltd. | 20,000 | 12,249 | ||||||
Charoen Pokphand Enterprise | 10,000 | 6,732 | ||||||
Cheng Loong Corp. | 16,000 | 7,329 | ||||||
Cheng Uei Precision Industry Co., Ltd. | 4,059 | 8,597 | ||||||
Chicony Electronics Co., Ltd. | 5,484 | 14,227 | ||||||
Chien Kuo Construction Co., Ltd. | 8,000 | 3,704 | ||||||
Chin-Poon Industrial Co. | 8,000 | 14,554 | ||||||
China Bills Finance Corp. | 12,000 | 4,650 | ||||||
China Chemical & Pharmaceutical Co., Ltd. | 10,000 | 7,750 | ||||||
China Manmade Fibers Corp. (a) | 18,000 | 6,886 | ||||||
China Motor Corp. | 6,000 | 5,359 | ||||||
China Steel Chemical Corp. | 2,000 | 11,428 | ||||||
China Synthetic Rubber Corp. | 6,000 | 5,596 | ||||||
Chipbond Technology Corp. | 6,000 | 10,600 | ||||||
Chong Hong Construction Co., Ltd. | 4,040 | 12,258 | ||||||
Chroma ATE, Inc. | 4,000 | 9,536 | ||||||
Chung Hung Steel Corp. (a) | 22,000 | 5,830 | ||||||
Clevo Co. | 6,241 | 12,338 | ||||||
CMC Magnetics Corp. (a) | 38,000 | 5,977 | ||||||
Coretronic Corp. | 8,000 | 9,562 | ||||||
CTCI Corp. | 4,000 | 5,996 | ||||||
CyberTAN Technology, Inc. | 6,000 | 6,364 | ||||||
D-Link Corp. | 8,000 | 5,688 | ||||||
Dynapack International Technology Corp. | 2,000 | 5,280 | ||||||
E Ink Holdings, Inc. (a) | 12,000 | 6,955 | ||||||
Eclat Textile Co., Ltd. | 20 | 231 | ||||||
Elan Microelectronics Corp. | 6,000 | 11,546 | ||||||
Elite Material Co., Ltd. | 10,000 | 9,096 | ||||||
Elite Semiconductor Memory Technology, Inc. (a) | 6,000 | 9,891 |
See accompanying notes to financial statements.
121
SPDR S&P Small Cap Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Entie Commercial Bank | 18,000 | $ | 8,009 | |||||
Epistar Corp. (a) | 8,000 | 19,204 | ||||||
Eternal Chemical Co., Ltd. | 8,000 | 8,354 | ||||||
Eva Airways Corp. (a) | 10,000 | 5,024 | ||||||
Evergreen Marine Corp., Ltd. (a) | 16,000 | 9,352 | ||||||
Everlight Chemical Industrial Corp. | 9,620 | 8,640 | ||||||
Everlight Electronics Co., Ltd. | 4,000 | 10,140 | ||||||
Excelsior Medical Co., Ltd. | 2,100 | 4,165 | ||||||
Far Eastern Department Stores, Ltd. | 10,150 | 8,949 | ||||||
Far Eastern International Bank | 31,474 | 11,162 | ||||||
Faraday Technology Corp. | 6,000 | 8,689 | ||||||
Farglory Land Development Co., Ltd. | 4,132 | 7,042 | ||||||
Feng Hsin Iron & Steel Co., Ltd. | 4,000 | 6,725 | ||||||
Feng TAY Enterprise Co., Ltd. | 4,236 | 12,408 | ||||||
FLEXium Interconnect, Inc. | 1,668 | 4,962 | ||||||
Formosa Taffeta Co., Ltd. | 10,000 | 11,165 | ||||||
Formosan Rubber Group, Inc. | 12,000 | 11,743 | ||||||
Formosan Union Chemical | 7,700 | 3,742 | ||||||
FSP Technology, Inc. | 6,000 | 6,197 | ||||||
G Tech Optoelectronics Corp. | 2,000 | 2,552 | ||||||
GeoVision, Inc. | 2,164 | 14,497 | ||||||
Gigabyte Technology Co., Ltd. | 8,000 | 11,795 | ||||||
Gintech Energy Corp. (a) | 4,000 | 3,783 | ||||||
Global Unichip Corp. (a) | 2,000 | 5,819 | ||||||
Gloria Material Technology Corp. | 7,509 | 5,906 | ||||||
Goldsun Development & Construction Co., Ltd. | 20,000 | 7,750 | ||||||
Grand Ocean Retail Group, Ltd. | 2,000 | 4,078 | ||||||
Grand Pacific Petrochemical | 14,000 | 8,505 | ||||||
Great Wall Enterprise Co. | 6,346 | 6,273 | ||||||
HannStar Display Corp. (a) | 24,000 | 9,024 | ||||||
Hey Song Corp. | 4,250 | 4,599 | ||||||
Highwealth Construction Corp. | 2,370 | 5,588 | ||||||
Hiwin Technologies Corp. | 2,030 | 19,665 | ||||||
Ho Tung Chemical Corp. | 16,232 | 7,542 | ||||||
Hong TAI Electric Industrial | 24,000 | 7,999 | ||||||
Huaku Development Co., Ltd. | 4,080 | 9,995 | ||||||
Huang Hsiang Construction Co. | 2,000 | 3,409 | ||||||
I-Sheng Electric Wire & Cable Co., Ltd. | 6,000 | 9,300 | ||||||
Ibase Technology, Inc. | 4,147 | 9,151 | ||||||
Jess-Link Products Co., Ltd. | 2,000 | 2,098 | ||||||
Kenda Rubber Industrial Co., Ltd. | 2,134 | 5,088 | ||||||
Kerry TJ Logistics Co., Ltd. | 6,000 | 8,167 | ||||||
King Yuan Electronics Co., Ltd. | 16,000 | 13,267 | ||||||
King’s Town Bank | 12,000 | 11,132 | ||||||
Kinpo Electronics | 32,000 | 12,400 | ||||||
Kinsus Interconnect Technology Corp. | 4,000 | 14,843 | ||||||
LCY Chemical Corp. | 6,149 | 7,168 | ||||||
Lien Hwa Industrial Corp. | 6,000 | 3,842 | ||||||
Lingsen Precision Industries, Ltd. | 10,000 | 6,863 | ||||||
Long Bon International Co., Ltd. | 6,000 | 3,665 | ||||||
Lumax International Corp., Ltd. | 2,391 | 6,030 | ||||||
Lung Yen Life Service Corp. | 2,000 | 5,438 | ||||||
Macronix International Co., Ltd. (a) | 41,519 | 8,603 | ||||||
Makalot Industrial Co., Ltd. | 2,000 | 11,099 | ||||||
Masterlink Securities Corp. | 20,000 | 6,666 | ||||||
Mercuries & Associates, Ltd. | 4,376 | 2,845 | ||||||
Merida Industry Co., Ltd. | 3,600 | 23,880 | ||||||
Micro-Star International Co., Ltd. | 14,000 | 13,838 | ||||||
Microbio Co., Ltd. (a) | 6,394 | 6,561 | ||||||
Mirle Automation Corp. | 4,240 | 4,455 | ||||||
Motech Industries, Inc. (a) | 4,000 | 7,040 | ||||||
Nan Kang Rubber Tire Co., Ltd. (a) | 7,704 | 9,360 | ||||||
Nantex Industry Co., Ltd. | 4,205 | 2,596 | ||||||
Neo Solar Power Corp. (a) | 7,493 | 8,919 | ||||||
Nien Hsing Textile Co., Ltd. | 8,155 | 8,288 | ||||||
Oriental Union Chemical Corp. | 9,800 | 9,590 | ||||||
Pan-International Industrial Co., Ltd. | 6,030 | 4,426 | ||||||
Phison Electronics Corp. | 2,000 | 12,872 | ||||||
PixArt Imaging, Inc. | 2,020 | 4,491 | ||||||
Portwell, Inc. | 2,000 | 2,167 | ||||||
Powertech Technology, Inc. | 6,000 | 9,073 | ||||||
President Securities Corp. | 15,420 | 8,659 | ||||||
Prime Electronics Satellitics, Inc. | 3,765 | 2,800 | ||||||
Prince Housing Development Corp. | 13,155 | 6,393 | ||||||
Promate Electronic Co., Ltd. | 4,000 | 4,716 | ||||||
Qisda Corp. (a) | 22,000 | 7,297 | ||||||
Radiant Opto-Electronics Corp. | 5,759 | 23,261 | ||||||
Realtek Semiconductor Corp. | 6,100 | 18,389 | ||||||
RichTek Technology Corp. | 2,000 | 11,920 | ||||||
Ritek Corp. (a) | 38,000 | 6,065 | ||||||
Ruentex Industries, Ltd. | 6,285 | 15,025 | ||||||
Sampo Corp. | 14,000 | 5,816 | ||||||
Sanyang Industry Co., Ltd. | 12,000 | 19,900 | ||||||
Senao International Co., Ltd. | 2,000 | 5,510 | ||||||
Shihlin Paper Corp. (a) | 4,000 | 5,924 | ||||||
Shin Zu Shing Co., Ltd. | 2,000 | 4,847 | ||||||
Shinkong Synthetic Fibers Corp. | 28,000 | 9,379 | ||||||
Sigurd Microelectronics Corp. | 8,000 | 7,776 | ||||||
Silicon Integrated Systems Corp. (a) | 10,000 | 3,008 | ||||||
Simplo Technology Co., Ltd. | 3,729 | 17,756 | ||||||
Sinbon Electronics Co., Ltd. | 10,000 | 15,171 | ||||||
Sinmag Bakery Machine Corp. | 1,762 | 10,299 | ||||||
Sino-American Silicon Products, Inc. (a) | 6,000 | 10,502 | ||||||
Sinon Corp. | 14,000 | 7,769 | ||||||
Sinphar Pharmaceutical Co., Ltd. | 4,000 | 6,568 | ||||||
Sintek Photronic Corp. (a) | 10,000 | 3,044 | ||||||
Sinyi Realty Co. | 2,271 | 4,213 | ||||||
Solar Applied Materials Technology Corp. | 7,599 | 6,713 | ||||||
Solartech Energy Corp. (a) | 4,233 | 3,218 | ||||||
Standard Foods Corp. | 1,669 | 4,549 | ||||||
Systex Corp. (a) | 4,000 | 9,365 | ||||||
Ta Chong Bank Co., Ltd. (a) | 23,352 | 7,783 | ||||||
Taichung Commercial Bank | 33,698 | 11,398 | ||||||
Tainan Enterprises Co., Ltd. | 6,000 | 6,669 | ||||||
Tainan Spinning Co., Ltd. | 16,120 | 12,175 | ||||||
Taisun Enterprise Co., Ltd. (a) | 12,360 | 6,007 | ||||||
Taiwan Business Bank (a) | 41,342 | 12,205 | ||||||
Taiwan Cogeneration Corp. | 6,000 | 3,734 | ||||||
Taiwan Fire & Marine Insurance Co. | 6,000 | 4,748 | ||||||
Taiwan Hon Chuan Enterprise Co., Ltd. | 4,000 | 8,669 | ||||||
Taiwan Land Development Corp. (a) | 15,430 | 5,776 | ||||||
Taiwan Secom Co., Ltd. | 4,000 | 10,259 | ||||||
Taiwan Surface Mounting Technology Co., Ltd. | 2,293 | 3,400 | ||||||
Tatung Co., Ltd. (a) | 26,000 | 8,102 | ||||||
Teco Electric & Machinery Co., Ltd. | 22,000 | 24,527 | ||||||
Test-Rite International Co. | 8,246 | 5,984 |
See accompanying notes to financial statements.
122
SPDR S&P Small Cap Emerging Asia Pacific ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Thye Ming Industrial Co., Ltd. | 6,075 | $ | 7,032 | |||||
Tong Hsing Electronic Industries, Ltd. | 2,000 | 10,344 | ||||||
Tong Yang Industry Co., Ltd. | 6,321 | 9,216 | ||||||
Topco Scientific Co., Ltd. | 4,039 | 7,878 | ||||||
Transcend Information, Inc. | 4,000 | 13,004 | ||||||
Tripod Technology Corp. | 6,000 | 11,802 | ||||||
TSRC Corp. | 7,700 | 11,505 | ||||||
TTY Biopharm Co., Ltd. | 1,739 | 5,648 | ||||||
Tung Ho Steel Enterprise Corp. | 10,000 | 8,489 | ||||||
TXC Corp. | 6,000 | 8,019 | ||||||
U-Ming Marine Transport Corp. | 4,000 | 6,765 | ||||||
Unimicron Technology Corp. | 14,000 | 11,263 | ||||||
Unity Opto Technology Co., Ltd. (a) | 6,000 | 7,231 | ||||||
Unizyx Holding Corp. (a) | 10,000 | 5,993 | ||||||
UPC Technology Corp. | 11,608 | 5,184 | ||||||
USI Corp. | 8,200 | 5,305 | ||||||
Ve Wong Corp. | 8,000 | 6,252 | ||||||
Via Technologies, Inc. (a) | 4,000 | 3,198 | ||||||
Visual Photonics Epitaxy Co., Ltd. | 2,008 | 1,929 | ||||||
Walsin Lihwa Corp. (a) | 42,000 | 13,364 | ||||||
Wan Hai Lines, Ltd. | 12,000 | 5,793 | ||||||
Waterland Financial Holdings Co., Ltd. | 25,524 | 7,887 | ||||||
Wei Chuan Food Corp. | 6,000 | 9,044 | ||||||
Weikeng Industrial Co., Ltd. | 2,000 | 1,632 | ||||||
Win Semiconductors Corp. | 6,000 | 5,172 | ||||||
Winbond Electronics Corp. (a) | 40,000 | 10,456 | ||||||
Wintek Corp. (a) | 16,000 | 5,254 | ||||||
Wistron NeWeb Corp. | 4,161 | 9,373 | ||||||
WPG Holdings, Ltd. | 20,000 | 24,136 | ||||||
Yageo Corp. (a) | 18,100 | 8,291 | ||||||
Yang Ming Marine Transport Corp. (a) | 14,000 | 5,885 | ||||||
Yieh Phui Enterprise Co., Ltd. (a) | 18,180 | 5,636 | ||||||
Yuen Foong Yu Paper Manufacturing Co., Ltd. | 18,000 | 8,157 | ||||||
Yungtay Engineering Co., Ltd. | 4,000 | 11,480 | ||||||
Zenitron Corp. | 2,000 | 1,202 | ||||||
Zinwell Corp. | 6,000 | 7,034 | ||||||
1,635,706 | ||||||||
THAILAND — 6.7% | ||||||||
Bangkok Chain Hospital PCL | 42,073 | 9,208 | ||||||
Bangkok Expressway PCL | 10,532 | 10,714 | ||||||
Bumrungrad Hospital PCL | 5,786 | 17,167 | ||||||
Dynasty Ceramic PCL | 4,566 | 7,389 | ||||||
Esso Thailand PCL, NVDR | 20,900 | 3,930 | ||||||
IRPC PCL, NVDR | 372,200 | 39,469 | ||||||
Jasmine International PCL, NVDR | 48,700 | 11,860 | ||||||
Kiatnakin Bank PCL, NVDR | 7,000 | 9,171 | ||||||
MBK PCL, NVDR | 1,600 | 7,102 | ||||||
Precious Shipping PCL | 12,074 | 10,515 | ||||||
Pruksa Real Estate PCL | 17,251 | 10,795 | ||||||
Robinson Department Store PCL, NVDR | 13,900 | 22,602 | ||||||
Siam Global House PCL, NVDR | 16,703 | 7,414 | ||||||
Sri Trang Agro-Industry PCL | 11,366 | 5,361 | ||||||
Thai Airways International PCL (a) | 9,338 | 4,030 | ||||||
Thai Stanley Electric PCL, NVDR | 1,400 | 8,761 | ||||||
Thai Tap Water Supply PCL | 55,404 | 16,567 | ||||||
Thai Union Frozen Products PCL, NVDR | 10,100 | 21,405 | ||||||
Thai Vegetable Oil PCL | 8,507 | 5,953 | ||||||
Thai Vegetable Oil PCL, NVDR | 40,300 | 28,200 | ||||||
Thanachart Capital PCL | 5 | 6 | ||||||
Thoresen Thai Agencies PCL (a) | 22,124 | 14,458 | ||||||
Tisco Financial Group PCL | 7,969 | 10,010 | ||||||
282,087 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $3,833,797) | 4,146,065 | |||||||
WARRANTS — 0.0% (d) | ||||||||
MALAYSIA — 0.0% (d) | ||||||||
KPJ Healthcare Bhd (expiring 01/23/19) (a) | 786 | 150 | ||||||
Malaysian Resources Corp. Bhd (expiring 09/16/18) (a) | 2,867 | 202 | ||||||
352 | ||||||||
THAILAND — 0.0% (d) | ||||||||
Bangkokland PCL, NVDR (expiring 07/02/18) (a) | 24,444 | 241 | ||||||
Thoresen Thai Agencies PCL (expiring 02/28/17) (a) | 955 | 187 | ||||||
428 | ||||||||
TOTAL WARRANTS — | ||||||||
(Cost $366) | 780 | |||||||
SHORT TERM INVESTMENTS — 5.7% | ||||||||
UNITED STATES — 5.7% | ||||||||
MONEY MARKET FUNDS — 5.7% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 187,862 | 187,862 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 49,519 | 49,519 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $237,381) | 237,381 | |||||||
TOTAL INVESTMENTS — 104.6% | ||||||||
(Cost $4,071,544) | 4,384,226 | |||||||
OTHER ASSETS & LIABILITIES — (4.6)% | (194,449 | ) | ||||||
NET ASSETS — 100.0% | $ | 4,189,777 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 3 inputs (Note 2). | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
123
SPDR S&P Russia ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.3% | ||||||||
RUSSIA — 99.3% | ||||||||
BANKS — 12.3% | ||||||||
NOMOS-BANK GDR (a) | 2,569 | $ | 31,701 | |||||
Sberbank of Russia ADR (b) | 129,440 | 1,264,629 | ||||||
Sberbank of Russia ADR (b) | 82,544 | 802,327 | ||||||
VTB Bank OJSC GDR | 221,944 | 488,055 | ||||||
2,586,712 | ||||||||
CHEMICALS — 3.6% | ||||||||
Phosagro OAO GDR | 7,332 | 81,752 | ||||||
Uralkali OJSC GDR | 28,135 | 667,643 | ||||||
749,395 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.9% | ||||||||
Rostelecom OJSC ADR | 27,555 | 395,139 | ||||||
ELECTRIC UTILITIES — 1.4% | ||||||||
Federal Hydrogenerating Co. JSC ADR (b) | 1,612 | 2,468 | ||||||
Federal Hydrogenerating Co. JSC ADR (b) | 199,603 | 302,997 | ||||||
305,465 | ||||||||
ENERGY EQUIPMENT & SERVICES — 1.2% | ||||||||
Eurasia Drilling Co., Ltd. GDR | 6,681 | 171,234 | ||||||
TMK OAO GDR | 8,865 | 77,569 | ||||||
248,803 | ||||||||
FOOD & STAPLES RETAILING — 6.2% | ||||||||
Magnit OJSC GDR | 19,012 | 1,041,858 | ||||||
O’Key Group SA GDR | 9,655 | 86,895 | ||||||
X5 Retail Group NV GDR (a) | 11,562 | 181,176 | ||||||
1,309,929 | ||||||||
HOUSEHOLD DURABLES — 0.7% | ||||||||
PIK Group GDR (a) | 66,066 | 148,649 | ||||||
INTERNET SOFTWARE & SERVICES — 3.6% | ||||||||
Mail.ru Group, Ltd. GDR (a) | 6,645 | 235,566 | ||||||
Yandex NV (Class A) (a) | 17,022 | 513,894 | ||||||
749,460 | ||||||||
MEDIA — 0.3% | ||||||||
CTC Media, Inc. (c) | 7,962 | 73,330 | ||||||
METALS & MINING — 8.6% | ||||||||
Evraz PLC (a)(c) | 31,995 | 42,512 | ||||||
IRC, Ltd. (a) | 152,000 | 14,500 | ||||||
Magnitogorsk Iron & Steel Works GDR (a) | 19,051 | 38,978 | ||||||
Mechel OAO, ADR (a)(c) | 16,824 | 34,826 | ||||||
MMC Norilsk Nickel OJSC ADR | 60,531 | 1,006,631 | ||||||
Novolipetsk Steel OJSC GDR | 9,261 | 117,059 | ||||||
Polymetal International PLC | 16,941 | 175,249 | ||||||
Polyus Gold International, Ltd. | 65,047 | 221,766 | ||||||
Severstal GDR | 22,294 | 168,766 | ||||||
1,820,287 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 48.2% | ||||||||
Exillon Energy PLC (a) | 18,932 | 39,453 | ||||||
Gazprom Neft JSC ADR | 8,851 | 182,331 | ||||||
Gazprom OAO ADR | 479,774 | 3,694,260 | ||||||
Lukoil OAO ADR (b) | 15,760 | 881,378 | ||||||
Lukoil OAO ADR (b) | 33,051 | 1,836,313 | ||||||
NovaTek OAO GDR | 8,343 | 917,730 | ||||||
Rosneft Oil Co. GDR | 116,178 | 773,629 | ||||||
Surgutneftegas OJSC ADR | 91,286 | 672,778 | ||||||
Surgutneftegas OJSC ADR Preference Shares | 49,347 | 357,766 | ||||||
Tatneft OAO ADR | 22,688 | 777,291 | ||||||
10,132,929 | ||||||||
PHARMACEUTICALS — 0.5% | ||||||||
Pharmstandard GDR (a) | 12,369 | 107,610 | ||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.0% | ||||||||
AFI Development PLC, GDR (a) | 67,999 | 52,699 | ||||||
Etalon Group, Ltd. GDR (a) | 16,658 | 64,800 | ||||||
LSR Group OJSC GDR (a) | 30,263 | 83,223 | ||||||
200,722 | ||||||||
ROAD & RAIL — 0.6% | ||||||||
Globaltrans Investment PLC GDR | 11,110 | 128,209 | ||||||
TRANSPORTATION INFRASTRUCTURE — 0.3% | ||||||||
Novorossiysk Commercial Sea Trade Port PJSC GDR | 13,569 | 63,774 | ||||||
WIRELESS TELECOMMUNICATION SERVICES — 8.9% | ||||||||
MegaFon OAO GDR | 8,143 | 229,225 | ||||||
Mobile Telesystems OJSC ADR | 53,701 | 939,231 | ||||||
Sistema JSFC GDR | 19,317 | 434,826 | ||||||
VimpelCom, Ltd. ADR | 30,209 | 272,787 | ||||||
1,876,069 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $28,805,336) | 20,896,482 | |||||||
SHORT TERM INVESTMENTS — 0.8% | ||||||||
UNITED STATES — 0.8% | ||||||||
MONEY MARKET FUNDS — 0.8% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 88,752 | 88,752 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 74,808 | 74,808 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $163,560) | 163,560 | |||||||
TOTAL INVESTMENTS — 100.1% (g) | ||||||||
(Cost $28,968,896) | 21,060,042 | |||||||
OTHER ASSETS & LIABILITIES — (0.1)% | (20,510 | ) | ||||||
NET ASSETS — 100.0% | $ | 21,039,532 | ||||||
(a) | Non-income producing security | |||||
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(c) | A portion of the security was on loan at March 31, 2014. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs (Note 2). |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
124
SPDR S&P China ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 100.0% | ||||||||
AEROSPACE & DEFENSE — 0.1% | ||||||||
AviChina Industry & Technology Co. | 1,676,000 | $ | 933,386 | |||||
AIR FREIGHT & LOGISTICS — 0.1% | ||||||||
Sinotrans, Ltd. | 984,000 | 494,724 | ||||||
AIRLINES — 0.8% | ||||||||
Air China, Ltd. | 2,794,000 | 1,649,663 | ||||||
China Eastern Airlines Corp., Ltd. (a)(b) | 2,808,000 | 933,943 | ||||||
China Southern Airlines Co., Ltd. (Class H) (b) | 12,194,000 | 3,961,413 | ||||||
6,545,019 | ||||||||
AUTO COMPONENTS — 0.3% | ||||||||
Minth Group, Ltd. | 640,000 | 1,303,589 | ||||||
Xinyi Glass Holdings Co., Ltd. (b) | 1,546,000 | 1,257,599 | ||||||
2,561,188 | ||||||||
AUTOMOBILES — 2.4% | ||||||||
Brilliance China Automotive Holdings, Ltd. | 2,806,000 | 4,290,182 | ||||||
BYD Co., Ltd. (a)(b) | 470,000 | 2,905,293 | ||||||
Dongfeng Motor Group Co., Ltd. | 2,783,300 | 3,939,724 | ||||||
Geely Automobile Holdings, Ltd. (b) | 3,125,000 | 1,228,721 | ||||||
Great Wall Motor Co., Ltd. (Class H) (b) | 856,500 | 4,295,170 | ||||||
Guangzhou Automobile Group Co., Ltd. | 2,158,637 | 2,267,987 | ||||||
18,927,077 | ||||||||
BANKS — 19.0% | ||||||||
Agricultural Bank of China, Ltd. | 21,229,000 | 9,250,169 | ||||||
Bank of China, Ltd. | 58,949,700 | 26,142,279 | ||||||
Bank of Chongqing Co. Ltd. (Class H) (a) | 854,000 | 547,164 | ||||||
Bank of Communications Co., Ltd. (b) | 6,880,824 | 4,497,300 | ||||||
China Citic Bank Corp., Ltd. | 6,691,471 | 3,855,960 | ||||||
China Construction Bank Corp. | 67,635,623 | 47,345,503 | ||||||
China Merchants Bank Co., Ltd. (b) | 3,997,735 | 7,246,073 | ||||||
China Minsheng Banking Corp., Ltd. (Class H) (b) | 4,367,000 | 4,379,920 | ||||||
Chongqing Rural Commercial Bank Co., Ltd. (b) | 1,326,000 | 581,200 | ||||||
Huishang Bank Corp. Ltd. (Class H) (a)(b) | 5,179,000 | 2,310,072 | ||||||
Industrial & Commercial Bank of China | 67,240,789 | 41,348,008 | ||||||
147,503,648 | ||||||||
BEVERAGES — 0.5% | ||||||||
Tibet 5100 Water Resources Holdings, Ltd. (b) | 1,693,000 | 691,862 | ||||||
Tsingtao Brewery Co., Ltd. (b) | 427,000 | 3,123,900 | ||||||
3,815,762 | ||||||||
CAPITAL MARKETS — 1.0% | ||||||||
China Cinda Asset Management Co. Ltd. (Class H) (a)(b) | 8,583,000 | 4,868,500 | ||||||
China Everbright, Ltd. | 410,000 | 523,266 | ||||||
CITIC Securities Co., Ltd. (Class H) (b) | 740,000 | 1,543,525 | ||||||
Haitong Securities Co., Ltd. (Class H) | 890,400 | 1,179,999 | ||||||
8,115,290 | ||||||||
CHEMICALS — 0.6% | ||||||||
China Bluechemical, Ltd. | 2,152,000 | 1,109,700 | ||||||
China Lumena New Materials Corp. (b) | 3,582,548 | 577,305 | ||||||
Huabao International Holdings, Ltd. (b) | 1,453,000 | 666,836 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. | 3,545,999 | 914,265 | ||||||
Yingde Gases | 1,185,000 | 1,130,456 | ||||||
4,398,562 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.3% | ||||||||
China Everbright International, Ltd. (b) | 1,726,000 | 2,363,027 | ||||||
COMMUNICATIONS EQUIPMENT — 0.3% | ||||||||
China All Access Holdings, Ltd. (b) | 2,470,000 | 1,088,996 | ||||||
ZTE Corp. (a)(b) | 751,198 | 1,458,421 | ||||||
2,547,417 | ||||||||
CONSTRUCTION & ENGINEERING — 1.7% | ||||||||
China Communications Construction Co., Ltd. (Class H) | 4,748,394 | 3,311,673 | ||||||
China Railway Construction Corp. (Class H) (b) | 2,010,875 | 1,700,561 | ||||||
China Railway Group, Ltd. | 4,258,000 | 1,981,601 | ||||||
China Singyes Solar Technologies Holdings, Ltd. | 367,000 | 580,043 | ||||||
China State Construction International Holdings, Ltd. | 1,720,000 | 2,913,582 | ||||||
China WindPower Group Ltd. (a) | 4,390,000 | 356,540 | ||||||
Metallurgical Corp. of China, Ltd. (a)(b) | 4,292,000 | 730,360 | ||||||
Sinopec Engineering Group Co., Ltd. | 1,159,000 | 1,255,065 | ||||||
12,829,425 | ||||||||
CONSTRUCTION MATERIALS — 1.4% | ||||||||
Anhui Conch Cement Co., Ltd. (b) | 1,283,000 | 5,499,481 | ||||||
BBMG Corp. | 754,000 | 587,099 | ||||||
China National Building Material Co., Ltd. (b) | 3,002,000 | 3,010,882 | ||||||
China Resources Cement Holdings, Ltd. | 905,163 | 712,970 | ||||||
China Shanshui Cement Group, Ltd. | 1,608,000 | 677,856 | ||||||
10,488,288 | ||||||||
DIVERSIFIED CONSUMER SERVICES — 0.6% | ||||||||
New Oriental Education & Technology Group, Inc. ADR (b) | 118,538 | 3,479,090 | ||||||
TAL Education Group, ADR (a) | 48,580 | 1,094,022 | ||||||
4,573,112 | ||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.1% | ||||||||
Far East Horizon, Ltd. | 1,023,000 | 751,716 | ||||||
See accompanying notes to financial statements.
125
SPDR S&P China ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.7% | ||||||||
China Communications Services Corp., Ltd. (Class H) | 1,859,600 | $ | 860,632 | |||||
China Telecom Corp., Ltd. | 13,738,951 | 6,358,452 | ||||||
China Unicom (Hong Kong), Ltd. (b) | 4,283,805 | 5,632,916 | ||||||
12,852,000 | ||||||||
ELECTRICAL EQUIPMENT — 0.5% | ||||||||
China High Speed Transmission Equipment Group Co., Ltd. (a)(b) | 1,182,000 | 882,266 | ||||||
Shanghai Electric Group Co., Ltd. | 3,352,000 | 1,188,338 | ||||||
Zhuzhou CSR Times Electric Co., Ltd. | 433,000 | 1,459,698 | ||||||
3,530,302 | ||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 1.2% | ||||||||
AAC Technologies Holdings, Inc. (b) | 706,245 | 3,655,479 | ||||||
Anxin-China Holdings, Ltd. | 2,492,000 | 385,507 | ||||||
Avic International Holdings, Ltd. (a) | 1,730,000 | 648,997 | ||||||
Digital China Holdings, Ltd. | 859,000 | 865,971 | ||||||
Hi Sun Technology China, Ltd. (a) | 1,476,000 | 456,669 | ||||||
Ju Teng International Holdings, Ltd. | 896,000 | 634,138 | ||||||
Kingboard Chemical Holdings, Ltd. | 712,999 | 1,391,612 | ||||||
Shijiazhuang Baoshi Electronic Glass Co. Ltd. (Class B) (a) | 707,000 | 1,039,029 | ||||||
Sunny Optical Technology Group Co., Ltd. (b) | 400,000 | 389,323 | ||||||
9,466,725 | ||||||||
ENERGY EQUIPMENT & SERVICES — 0.6% | ||||||||
Anton Oilfield Services Group (b) | 852,000 | 541,489 | ||||||
China Oilfield Services, Ltd. | 1,283,900 | 3,012,354 | ||||||
Honghua Group, Ltd. (b) | 1,194,000 | 293,996 | ||||||
SPT Energy Group, Inc. | 868,000 | 428,570 | ||||||
4,276,409 | ||||||||
FOOD & STAPLES RETAILING — 0.7% | ||||||||
China Resources Enterprise, Ltd. (b) | 1,285,854 | 3,630,272 | ||||||
Sun Art Retail Group Ltd. (b) | 1,158,000 | 1,455,515 | ||||||
Wumart Stores, Inc. (b) | 437,000 | 425,899 | ||||||
5,511,686 | ||||||||
FOOD PRODUCTS — 3.6% | ||||||||
Asian Citrus Holdings, Ltd. | 323 | 69 | ||||||
Biostime International Holdings, Ltd. | 163,000 | 1,117,899 | ||||||
China Agri-Industries Holdings, Ltd. | 1,877,600 | 733,414 | ||||||
China Huishan Dairy Holdings Co. Ltd. (a)(b) | 3,147,000 | 872,245 | ||||||
China Huiyuan Juice Group, Ltd. (a) | 845,000 | 614,383 | ||||||
China Mengniu Dairy Co., Ltd. | 1,285,110 | 6,436,277 | ||||||
China Milk Products Group, Ltd. (a)(c) | 15,000 | 0 | ||||||
China Modern Dairy Holdings, Ltd. (a)(b) | 2,338,000 | 1,003,673 | ||||||
China Yurun Food Group, Ltd. (a)(b) | 1,288,000 | 664,170 | ||||||
CP Pokphand Co. | 3,844,000 | 401,395 | ||||||
Shenguan Holdings Group, Ltd. (b) | 1,700,000 | 705,680 | ||||||
Tingyi Cayman Islands Holding Corp. | 1,927,844 | 5,529,748 | ||||||
Uni-President China Holdings, Ltd. (b) | 517,000 | 434,552 | ||||||
Want Want China Holdings, Ltd. | 6,041,933 | 9,019,612 | ||||||
27,533,117 | ||||||||
GAS UTILITIES — 0.8% | ||||||||
China Gas Holdings, Ltd. | 1,878,000 | 2,934,280 | ||||||
China Oil and Gas Group, Ltd. | 2,280,000 | 387,983 | ||||||
China Resources Gas Group, Ltd. (b) | 856,000 | 2,725,675 | ||||||
6,047,938 | ||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.6% | ||||||||
Mindray Medical International, Ltd. ADR (b) | 82,478 | 2,668,988 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. (b) | 1,696,000 | 1,932,776 | ||||||
4,601,764 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 0.5% | ||||||||
Phoenix Healthcare Group Co. Ltd. (a) | 407,000 | 591,844 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. | 712,800 | 1,620,950 | ||||||
Sinopharm Group Co., Ltd. (Class H) (b) | 682,000 | 1,868,300 | ||||||
4,081,094 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 0.4% | ||||||||
Ajisen China Holdings, Ltd. | 428,000 | 386,229 | ||||||
China Travel International Investment Hong Kong, Ltd. | 4,454,000 | 889,990 | ||||||
Home Inns & Hotels Management, Inc. ADR (a)(b) | 28,418 | 917,617 | ||||||
REXLot Holdings, Ltd. (b) | 5,202,210 | 603,579 | ||||||
Shanghai Jin Jiang International Hotels Group Co., Ltd. | 1,308,187 | 332,231 | ||||||
3,129,646 | ||||||||
HOUSEHOLD DURABLES — 0.5% | ||||||||
Haier Electronics Group Co., Ltd. | 935,000 | 2,531,246 | ||||||
Hisense Kelon Electrical Holdings Co. Ltd. (Class H) (a) | 307,000 | 375,980 | ||||||
Skyworth Digital Holdings, Ltd. (b) | 1,657,878 | 910,470 | ||||||
3,817,696 | ||||||||
HOUSEHOLD PRODUCTS — 0.2% | ||||||||
NVC Lighting Holdings, Ltd. | 2,097,000 | 589,330 | ||||||
Vinda International Holdings, Ltd. (b) | 416,000 | 604,931 | ||||||
1,194,261 | ||||||||
INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS — 1.8% | ||||||||
Beijing Jingneng Clean Energy Co., Ltd. (Class H) | 1,370,000 | 626,978 | ||||||
China Datang Corp. Renewable Power Co., Ltd. (b) | 2,057,000 | 326,169 |
See accompanying notes to financial statements.
126
SPDR S&P China ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
China Longyuan Power Group Corp. (Class H) | 2,249,000 | $ | 2,264,352 | |||||
China Power International Development, Ltd. (b) | 2,488,000 | 862,792 | ||||||
China Resources Power Holdings Co., Ltd. | 1,716,112 | 4,468,898 | ||||||
Datang International Power Generation Co., Ltd. (b) | 3,396,287 | 1,239,065 | ||||||
Huaneng Power International, Inc. | 3,222,129 | 3,082,125 | ||||||
Huaneng Renewables Corp., Ltd. (Class H) | 2,454,000 | 832,020 | ||||||
13,702,399 | ||||||||
INDUSTRIAL CONGLOMERATES — 1.2% | ||||||||
Beijing Enterprises Holdings, Ltd. | 477,500 | 4,278,205 | ||||||
Citic Pacific, Ltd. (b) | 1,594,000 | 2,827,549 | ||||||
Shanghai Industrial Holdings, Ltd. | 640,000 | 2,132,770 | ||||||
9,238,524 | ||||||||
INSURANCE — 5.8% | ||||||||
China Life Insurance Co., Ltd. | 6,177,040 | 17,479,071 | ||||||
China Pacific Insurance Group Co., Ltd. (Class H) | 1,464,200 | 5,228,578 | ||||||
China Taiping Insurance Holdings Co., Ltd. (a) | 975,200 | 1,744,965 | ||||||
New China Life Insurance Co. Ltd. (a) | 342,000 | 1,033,885 | ||||||
People’s Insurance Co. Group of China, Ltd. (Class H) | 4,842,000 | 1,997,460 | ||||||
PICC Property & Casualty Co., Ltd. | 3,235,742 | 4,429,981 | ||||||
Ping An Insurance Group Co. of China, Ltd. | 1,608,800 | 13,335,719 | ||||||
45,249,659 | ||||||||
INTERNET & CATALOG RETAIL — 1.4% | ||||||||
Ctrip.com International, Ltd. ADR (a) | 111,019 | 5,597,578 | ||||||
E-Commerce China Dangdang, Inc. ADR (a)(b) | 59,713 | 857,479 | ||||||
Vipshop Holdings, Ltd. ADS (a) | 31,211 | 4,659,802 | ||||||
11,114,859 | ||||||||
INTERNET SOFTWARE & SERVICES — 15.3% | ||||||||
21Vianet Group, Inc. ADR (a) | 52,129 | 1,496,102 | ||||||
58.com Inc, ADR (a) | 11,645 | 484,781 | ||||||
Baidu, Inc. ADR (a) | 224,961 | 34,279,557 | ||||||
Bitauto Holdings, Ltd. ADR (a) | 11,000 | 394,240 | ||||||
NetEase, Inc. ADR | 66,186 | 4,454,318 | ||||||
Phoenix New Media, Ltd. ADR (a) | 44,734 | 463,892 | ||||||
Qihoo 360 Technology Co., Ltd. ADR (a) | 66,806 | 6,652,541 | ||||||
Sina Corp. (a)(b) | 60,204 | 3,636,924 | ||||||
Sohu.com, Inc. (a)(b) | 30,670 | 1,996,310 | ||||||
SouFun Holdings, Ltd. ADR | 27,847 | 1,905,292 | ||||||
Tencent Holdings, Ltd. | 855,383 | 59,491,576 | ||||||
Youku Tudou, Inc. ADR (a)(b) | 105,220 | 2,950,369 | ||||||
YY, Inc. ADR (a)(b) | 10,155 | 775,436 | ||||||
118,981,338 | ||||||||
IT SERVICES — 0.2% | ||||||||
AGTech Holdings Ltd. (a) | 1,520,000 | 344,873 | ||||||
Travelsky Technology, Ltd. (b) | 1,222,000 | 1,083,835 | ||||||
1,428,708 | ||||||||
MACHINERY — 1.5% | ||||||||
Changsha Zoomlion Heavy Industry Science and Technology Development Co., Ltd. (b) | 1,038,800 | 723,151 | ||||||
China Conch Venture Holdings Ltd. (a) | 469,500 | 1,197,196 | ||||||
China International Marine Containers Group Co., Ltd. (Class H) | 598,000 | 1,386,099 | ||||||
CIMC Enric Holdings, Ltd. | 640,000 | 902,611 | ||||||
CSR Corp., Ltd. (Class H) (b) | 1,090,000 | 916,173 | ||||||
Guangzhou Shipyard International Co., Ltd. (Class H) | 248,000 | 412,425 | ||||||
Haitian International Holdings, Ltd. | 651,000 | 1,305,852 | ||||||
Lonking Holdings, Ltd. (a) | 2,679,000 | 524,952 | ||||||
Weichai Power Co., Ltd. (b) | 532,920 | 2,016,386 | ||||||
Yangzijiang Shipbuilding Holdings, Ltd. (b) | 2,669,000 | 2,292,171 | ||||||
11,677,016 | ||||||||
MARINE — 0.4% | ||||||||
China COSCO Holdings Co., Ltd. (a)(b) | 2,952,675 | 1,221,867 | ||||||
China Shipping Container Lines Co., Ltd. (a)(b) | 3,839,500 | 871,146 | ||||||
China Shipping Development Co., Ltd. (a)(b) | 1,439,800 | 820,404 | ||||||
2,913,417 | ||||||||
MEDIA — 0.1% | ||||||||
ChinaVision Media Group Ltd. (a) | 4,610,000 | 1,034,079 | ||||||
METALS & MINING — 1.4% | ||||||||
Aluminum Corp. of China, Ltd. (a)(b) | 4,770,000 | 1,641,848 | ||||||
Angang Steel Co., Ltd. (a)(b) | 1,475,720 | 909,359 | ||||||
China Metal Recycling Holdings, Ltd. (a)(b)(d) | 468,600 | 0 | ||||||
China Molybdenum Co., Ltd. | 1,613,000 | 627,978 | ||||||
Jiangxi Copper Co., Ltd. (Class H) (b) | 1,706,000 | 2,867,874 | ||||||
Maanshan Iron & Steel (a)(b) | 3,454,000 | 761,416 | ||||||
North Mining Shares Co., Ltd. (a) | 10,110,000 | 482,232 | ||||||
Shougang Fushan Resources Group, Ltd. (b) | 3,120,000 | 949,227 | ||||||
Zhaojin Mining Industry Co., Ltd. (b) | 1,064,000 | 635,077 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (b) | 7,894,750 | 1,679,290 | ||||||
10,554,301 | ||||||||
MULTILINE RETAIL — 0.3% | ||||||||
Golden Eagle Retail Group, Ltd. (b) | 718,120 | 990,568 | ||||||
Intime Retail Group Co., Ltd. (b) | 809,500 | 871,378 | ||||||
Parkson Retail Group, Ltd. (b) | 1,715,000 | 539,458 | ||||||
2,401,404 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 10.2% | ||||||||
China Coal Energy Co., Ltd (b) | 4,321,013 | 2,434,280 | ||||||
China Petroleum & Chemical Corp. | 20,920,640 | 18,717,069 |
See accompanying notes to financial statements.
127
SPDR S&P China ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
China Shenhua Energy Co., Ltd. | 3,153,700 | $ | 9,106,926 | |||||
China Suntien Green Energy Corp., Ltd. (Class H) | 1,050,000 | 347,877 | ||||||
CNOOC, Ltd. | 13,610,174 | 20,458,116 | ||||||
Inner Mongolia Yitai Coal Co., Ltd. | 493,800 | 642,948 | ||||||
Kunlun Energy Co., Ltd. (b) | 2,555,400 | 4,275,993 | ||||||
Newocean Energy Holdings, Ltd. (b) | 898,000 | 694,594 | ||||||
PetroChina Co., Ltd. | 17,968,930 | 19,574,124 | ||||||
Sinopec Kantons Holdings, Ltd. | 1,084,000 | 1,071,835 | ||||||
United Energy Group, Ltd. (a) | 2,768,000 | 428,204 | ||||||
Yanzhou Coal Mining Co., Ltd. (b) | 2,153,900 | 1,629,923 | ||||||
79,381,889 | ||||||||
PAPER & FOREST PRODUCTS — 0.3% | ||||||||
Lee & Man Paper Manufacturing, Ltd. (b) | 2,038,000 | 1,266,352 | ||||||
Nine Dragons Paper Holdings, Ltd. (b) | 1,706,000 | 1,328,371 | ||||||
2,594,723 | ||||||||
PERSONAL PRODUCTS — 1.0% | ||||||||
Hengan International Group Co., Ltd. | 695,000 | 7,199,032 | ||||||
Magic Holdings International, Ltd. | 680,000 | 551,395 | ||||||
7,750,427 | ||||||||
PHARMACEUTICALS — 1.5% | ||||||||
China Medical System Holdings, Ltd. (b) | 825,000 | 933,796 | ||||||
China Pharmaceutical Group, Ltd. | 980,000 | 867,933 | ||||||
China Shineway Pharmaceutical Group, Ltd. | 310,000 | 541,108 | ||||||
Guangzhou Baiyunshan Pharmaceu (a) | 220,000 | 745,902 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd. (Class H) (b) | 215,000 | 748,351 | ||||||
Sihuan Pharmaceutical Holdings Group, Ltd. | 2,003,000 | 2,414,326 | ||||||
Sino Biopharmaceutical | 2,624,000 | 2,235,984 | ||||||
Tong Ren Tang Technologies Co., Ltd. | 198,000 | 635,577 | ||||||
WuXi PharmaTech Cayman, Inc. ADR (a) | 64,025 | 2,359,962 | ||||||
11,482,939 | ||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 4.9% | ||||||||
Agile Property Holdings, Ltd. (b) | 1,947,109 | 1,596,433 | ||||||
Carnival Group International Holdings Ltd. (a) | 7,310,000 | 621,963 | ||||||
China Overseas Land & Investment, Ltd. (b) | 3,391,862 | 8,788,963 | ||||||
China Resources Land, Ltd. (b) | 1,713,000 | 3,758,550 | ||||||
China South City Holdings, Ltd. (b) | 2,398,000 | 1,094,349 | ||||||
Country Garden Holdings Co., Ltd. | 6,005,657 | 2,508,470 | ||||||
E-House China Holdings, Ltd. ADR | 65,314 | 789,646 | ||||||
Evergrande Real Estate Group, Ltd. (b) | 3,972,000 | 1,874,104 | ||||||
Greentown China Holdings, Ltd. | 451,000 | 487,219 | ||||||
Guangzhou R&F Properties Co., Ltd. (Class H) (b) | 1,138,224 | 1,640,488 | ||||||
Hopson Development Holdings, Ltd. (a)(b) | 444,000 | 412,688 | ||||||
Hydoo International Holding Ltd. (a) | 1,282,000 | 563,567 | ||||||
Kaisa Group Holdings, Ltd. (a)(b) | 1,332,000 | 479,084 | ||||||
Longfor Properties Co., Ltd. | 922,500 | 1,272,488 | ||||||
Poly Hong Kong Investments, Ltd. (b) | 1,387,000 | 613,302 | ||||||
Renhe Commercial Holdings Co., Ltd. (a)(b) | 11,332,000 | 701,215 | ||||||
Shenzhen Investment, Ltd. | 1,802,109 | 583,120 | ||||||
Shimao Property Holdings, Ltd. (b) | 1,132,441 | 2,481,807 | ||||||
Shui On Land, Ltd. | 3,589,500 | 999,519 | ||||||
Sino-Ocean Land Holdings, Ltd. (b) | 3,946,491 | 2,157,150 | ||||||
Soho China, Ltd. | 1,101,500 | 905,959 | ||||||
Sunac China Holdings, Ltd. | 1,319,000 | 765,175 | ||||||
Yanlord Land Group, Ltd. (b) | 1,213,000 | 1,032,094 | ||||||
Yuexiu Property Co., Ltd. (b) | 6,670,000 | 1,375,781 | ||||||
Yuzhou Properties Co. (a)(b) | 3,033,840 | 672,705 | ||||||
38,175,839 | ||||||||
ROAD & RAIL — 0.1% | ||||||||
Guangshen Railway Co., Ltd. | 2,624,000 | 1,109,535 | ||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.1% | ||||||||
GCL Poly Energy Holdings, Ltd. (a)(b) | 5,647,000 | 2,038,352 | ||||||
Hanergy Solar Group, Ltd. (a)(b) | 11,655,000 | 1,833,055 | ||||||
JinkoSolar Holding Co. Ltd, ADR (a)(b) | 16,260 | 454,467 | ||||||
Semiconductor Manufacturing International Corp. (a)(b) | 22,941,000 | 1,715,315 | ||||||
Shunfeng Photovoltaic International Ltd. (a)(b) | 590,000 | 688,342 | ||||||
Trina Solar, Ltd. ADR (a)(b) | 65,058 | 875,030 | ||||||
Xinyi Solar Holdings, Ltd. (a) | 1,552,000 | 464,176 | ||||||
Yingli Green Energy Holding Co., Ltd. ADR (a)(b) | 96,157 | 418,283 | ||||||
8,487,020 | ||||||||
SOFTWARE — 0.9% | ||||||||
AutoNavi Holdings, Ltd. ADR (a)(b) | 21,295 | 426,752 | ||||||
Boyaa Interactive International Ltd. (a) | 338,000 | 420,918 | ||||||
Giant Interactive Group, Inc. ADR | 114,782 | 1,328,028 | ||||||
Kingdee International Software Group Co., Ltd. (a) | 1,088,000 | 416,570 | ||||||
Kingsoft Corp., Ltd. (b) | 638,000 | 2,512,669 | ||||||
NetDragon Websoft, Inc. | 248,500 | 449,136 | ||||||
NQ Mobile, Inc. ADR (a)(b) | 32,175 | 566,602 | ||||||
Perfect World Co., Ltd. ADR (b) | 39,382 | 814,026 | ||||||
6,934,701 | ||||||||
SPECIALTY RETAIL — 0.9% | ||||||||
Baoxin Auto Group, Ltd. (b) | 726,000 | 616,773 | ||||||
Belle International Holdings, Ltd. | 3,761,000 | 3,747,885 | ||||||
GOME Electrical Appliances Holding, Ltd. (b) | 7,789,000 | 1,315,396 | ||||||
Hengdeli Holdings, Ltd. (b) | 3,132,895 | 601,777 |
See accompanying notes to financial statements.
128
SPDR S&P China ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Zhongsheng Group Holdings, Ltd. (b) | 627,000 | $ | 863,261 | |||||
7,145,092 | ||||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.0% | ||||||||
Coolpad Group, Ltd. | 1,372,000 | 673,880 | ||||||
Lenovo Group, Ltd. (b) | 5,632,000 | 6,222,242 | ||||||
TCL Communication Technology Holdings, Ltd. (a) | 428,000 | 502,098 | ||||||
7,398,220 | ||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.6% | ||||||||
Anta Sports Products, Ltd. (b) | 626,000 | 1,044,268 | ||||||
Bosideng International Holdings, Ltd. (b) | 3,870,000 | 583,714 | ||||||
China Dongxiang Group Co. (b) | 4,737,000 | 940,432 | ||||||
Li Ning Co., Ltd. (a)(b) | 1,074,500 | 725,840 | ||||||
Ports Design, Ltd. | 578,500 | 302,784 | ||||||
Shenzhou International Group Holdings, Ltd. | 319,000 | 1,013,704 | ||||||
4,610,742 | ||||||||
TRANSPORTATION INFRASTRUCTURE — 1.8% | ||||||||
Anhui Expressway Co., Ltd. | 2,118,000 | 1,089,437 | ||||||
Beijing Capital International Airport Co., Ltd. | 2,151,939 | 1,475,859 | ||||||
China Merchants Holdings International Co., Ltd. | 1,070,172 | 3,676,666 | ||||||
COSCO Pacific, Ltd. | 1,921,273 | 2,452,041 | ||||||
Jiangsu Expressway Co., Ltd. (b) | 1,852,795 | 2,111,461 | ||||||
Shenzhen Expressway Co., Ltd. | 1,574,000 | 712,222 | ||||||
Shenzhen International Holdings Ltd. | 647,378 | 810,365 | ||||||
Zhejiang Expressway Co., Ltd. (Class H) | 1,948,000 | 1,775,464 | ||||||
14,103,515 | ||||||||
WATER UTILITIES — 0.7% | ||||||||
Beijing Enterprises Water Group, Ltd. (b) | 3,870,000 | 2,709,032 | ||||||
Guangdong Investment, Ltd. (b) | 3,014,000 | 2,879,154 | ||||||
5,588,186 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 5.1% | ||||||||
China Mobile, Ltd. | 4,331,004 | 39,641,525 | ||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $834,076,399) | 775,590,336 | |||||||
SHORT TERM INVESTMENTS — 14.3% | ||||||||
UNITED STATES — 14.3% | ||||||||
MONEY MARKET FUNDS — 14.3% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 109,976,342 | 109,976,342 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 381,701 | 381,701 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $110,358,043) | 110,358,043 | |||||||
TOTAL INVESTMENTS — 114.3% (h) | ||||||||
(Cost $944,434,442) | 885,948,379 | |||||||
OTHER ASSETS & LIABILITIES — (14.3)% | (110,502,783 | ) | ||||||
NET ASSETS — 100.0% | $ | 775,445,596 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs (Note 2). | |||||
(d) | Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs (Note 2). | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. | |||||
(h) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs (Note 2). |
ADR = American Depositary Receipt
ADS = American Depositary Shares
See accompanying notes to financial statements.
129
SPDR S&P China ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
GEOGRAPHICAL BREAKDOWN AS OF
MARCH 31, 2014
MARCH 31, 2014
PERCENT OF | ||||
COUNTRY | NET ASSETS | |||
Bermuda | 0.4 | % | ||
Cayman Islands | 0.7 | |||
China | 74.9 | |||
Hong Kong | 24.0 | |||
United States Short Term Investments | 14.3 | |||
Other Assets & Liabilities | (14.3 | ) | ||
Total | 100.0 | % | ||
See accompanying notes to financial statements.
130
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 98.7% | ||||||||
BRAZIL — 11.7% | ||||||||
All America Latina Logistica SA | 11,435 | $ | 38,362 | |||||
AMBEV SA ADR | 342,052 | 2,534,605 | ||||||
Anhanguera Educacional Participacoes SA | 4,857 | 30,134 | ||||||
Banco Bradesco SA Preference Shares ADR | 139,891 | 1,912,310 | ||||||
Banco do Brasil SA | 41,060 | 414,876 | ||||||
Banco Santander Brasil SA | 21,749 | 121,154 | ||||||
BM&FBOVESPA SA | 87,418 | 435,831 | ||||||
BR Malls Participacoes SA | 32,191 | 279,326 | ||||||
Bradespar SA Preference Shares | 22,755 | 198,457 | ||||||
Brasil Brokers Participacoes SA | 8,829 | 19,955 | ||||||
Braskem SA Preference Shares ADR (a)(b) | 8,809 | 137,597 | ||||||
BRF — Brasil Foods SA ADR | 25,056 | 500,619 | ||||||
CCR SA | 24,381 | 188,219 | ||||||
Centrais Eletricas Brasileiras SA ADR (b) | 28,205 | 80,102 | ||||||
Cia Hering | 2,225 | 26,998 | ||||||
Cielo SA | 8,039 | 257,611 | ||||||
Companhia Brasileira de Distribuicao Grupo Pao de Acucar Preference Shares ADR | 11,149 | 487,880 | ||||||
Companhia de Saneamento Basico do Estado de Sao Paulo | 35,827 | 335,010 | ||||||
Companhia Energetica de Minas Gerais ADR (b) | 62,931 | 427,931 | ||||||
Companhia Energetica de Sao Paulo Preference Shares | 2,790 | 32,951 | ||||||
Companhia Siderurgica Nacional SA ADR (b) | 72,126 | 314,469 | ||||||
Cosan SA Industria e Comercio | 8,999 | 140,618 | ||||||
Cyrela Brazil Realty SA | 25,351 | 153,465 | ||||||
Cyrela Commercial Properties SA Empreendimentos e Participacoes | 2,343 | 18,794 | ||||||
Duratex SA | 16,926 | 86,637 | ||||||
Empresa Brasileira de Aeronautica SA | 38,717 | 347,278 | ||||||
Estacio Participacoes SA | 4,448 | 45,062 | ||||||
Fibria Celulose SA ADR (a)(b) | 13,878 | 153,491 | ||||||
Gafisa SA | 6,139 | 9,713 | ||||||
Gerdau SA ADR | 53,713 | 344,300 | ||||||
Hypermarcas SA | 2,353 | 17,112 | ||||||
Investimentos Itau SA | 52,472 | 232,537 | ||||||
Investimentos Itau SA (a)(c) | 4,227 | 17,328 | ||||||
Investimentos Itau SA (a)(c) | 805 | 3,567 | ||||||
Investimentos Itau SA Preference Shares | 275,355 | 1,128,754 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 169,356 | 2,516,630 | ||||||
JBS SA | 10,161 | 34,943 | ||||||
Klabin SA | 2,960 | 15,269 | ||||||
Klabin SA Preference Shares | 10 | 10 | ||||||
Kroton Educacional SA | 8,625 | 190,732 | ||||||
Lojas Americanas SA Preference Shares | 29,032 | 215,247 | ||||||
Lojas Renner SA | 16,395 | 466,602 | ||||||
Metalurgica Gerdau SA Preference Shares | 28,251 | 217,970 | ||||||
MMX Mineracao e Metalicos SA (a) | 2,567 | 2,912 | ||||||
MRV Engenharia e Participacoes SA | 4,911 | 17,607 | ||||||
Natura Cosmeticos SA | 13,852 | 234,008 | ||||||
Oi SA ADR (b)(c) | 5,220 | 7,569 | ||||||
Oi SA ADR (b)(c) | 27,617 | 36,731 | ||||||
PDG Realty SA Empreendimentos e Participacoes (a) | 32,623 | 20,819 | ||||||
Petroleo Brasileiro SA ADR (b)(c) | 107,906 | 1,496,656 | ||||||
Petroleo Brasileiro SA ADR (c) | 70,968 | 933,229 | ||||||
Profarma Distribuidora de Produtos Farmaceuticos SA | 1,554 | 12,052 | ||||||
Prumo Logistica SA (a) | 15,033 | 6,662 | ||||||
Qualicorp SA (a) | 1,980 | 20,138 | ||||||
Souza Cruz SA | 45,733 | 417,505 | ||||||
Telefonica Brasil SA ADR | 10,141 | 215,395 | ||||||
Telefonica Brasil SA Preference Shares | 25,586 | 544,603 | ||||||
Tim Participacoes SA ADR | 11,170 | 289,973 | ||||||
Tractebel Energia SA ADR | 12,833 | 199,553 | ||||||
Ultrapar Participacoes SA | 13,166 | 320,383 | ||||||
Usinas Siderurgicas de Minas Gerais SA ADR (a) | 39,456 | 173,606 | ||||||
Vale SA ADR (b) | 75,035 | 1,037,734 | ||||||
Vale SA Preference Shares ADR | 135,905 | 1,692,017 | ||||||
Weg SA | 22,496 | 316,031 | ||||||
23,125,639 | ||||||||
CHILE — 2.0% | ||||||||
Antarchile SA | 16,117 | 213,629 | ||||||
Compania General de Electricidad SA | 38,703 | 188,336 | ||||||
Empresa Electrica Pilmaiquen | 19,642 | 85,595 | ||||||
Empresa Nacional de Electricidad SA ADR | 8,303 | 358,524 | ||||||
Empresas COPEC SA | 37,099 | 484,333 | ||||||
Empresas Iansa SA | 398,369 | 14,467 | ||||||
Enersis SA ADR | 31,882 | 495,127 | ||||||
Enjoy SA | 172,751 | 17,685 | ||||||
Invexans SA | 844,955 | 15,634 | ||||||
Latam Airlines Group SA, ADR (b) | 24,560 | 369,628 | ||||||
Madeco SA (a) | 954,395 | 4,124 | ||||||
Multiexport Foods SA (a) | 157,170 | 33,932 | ||||||
Parque Arauco SA | 241,596 | 459,293 | ||||||
SACI Falabella | 112,459 | 989,739 | ||||||
Socovesa SA | 73,916 | 17,045 | ||||||
Vina Concha y Toro SA ADR | 5,449 | 218,014 | ||||||
3,965,105 | ||||||||
CHINA — 16.7% | ||||||||
Agricultural Bank of China, Ltd. | 852,000 | 371,244 | ||||||
Air China, Ltd. | 186,000 | 109,820 | ||||||
Aluminum Corp. of China, Ltd. (a)(b) | 310,000 | 106,703 | ||||||
Angang Steel Co., Ltd. (a)(b) | 64,640 | 39,832 | ||||||
Anhui Conch Cement Co., Ltd. (b) | 186,000 | 797,275 | ||||||
Anton Oilfield Services Group (b) | 36,000 | 22,880 | ||||||
Avic International Holdings, Ltd. (a) | 60,000 | 22,509 | ||||||
Baidu, Inc. ADR (a) | 17,324 | 2,639,831 | ||||||
Bank of China, Ltd. | 2,651,900 | 1,176,032 | ||||||
Bank of Communications Co., Ltd. (b) | 495,864 | 324,096 |
See accompanying notes to financial statements.
131
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Beijing Jingneng Clean Energy Co., Ltd. (Class H) | 42,000 | $ | 19,221 | |||||
BOE Technology Group Co., Ltd. (Class B) (a) | 36,700 | 9,746 | ||||||
Brilliance China Automotive Holdings, Ltd. | 138,000 | 210,993 | ||||||
BYD Co., Ltd. (a)(b) | 13,000 | 80,359 | ||||||
China Citic Bank Corp., Ltd. | 347,000 | 199,959 | ||||||
China Coal Energy Co., Ltd (b) | 310,000 | 174,641 | ||||||
China Communications Construction Co., Ltd. (Class H) (b) | 284,000 | 198,070 | ||||||
China Communications Services Corp., Ltd. (Class H) | 58,000 | 26,843 | ||||||
China Construction Bank Corp. | 3,632,280 | 2,542,626 | ||||||
China COSCO Holdings Co., Ltd. (a)(b) | 217,425 | 89,974 | ||||||
China Datang Corp. Renewable Power Co., Ltd. | 81,000 | 12,844 | ||||||
China Fangda Group Co., Ltd. | 92,100 | 40,606 | ||||||
China Life Insurance Co., Ltd. | 531,000 | 1,502,562 | ||||||
China Longyuan Power Group Corp. (Class H) | 100,000 | 100,683 | ||||||
China Merchants Bank Co., Ltd. (b) | 317,195 | 574,930 | ||||||
China Minsheng Banking Corp., Ltd. (Class H) (b) | 200,000 | 200,592 | ||||||
China National Accord Medicines Corp., Ltd. | 2,000 | 10,024 | ||||||
China National Building Material Co., Ltd. (b) | 62,000 | 62,183 | ||||||
China Oilfield Services, Ltd. | 248,000 | 581,871 | ||||||
China Pacific Insurance Group Co., Ltd. (Class H) | 53,000 | 189,260 | ||||||
China Petroleum & Chemical Corp. | 1,550,200 | 1,386,917 | ||||||
China Railway Construction Corp. (Class H) | 155,000 | 131,081 | ||||||
China Railway Group, Ltd. | 279,000 | 129,842 | ||||||
China Shenhua Energy Co., Ltd. | 248,000 | 716,148 | ||||||
China Shipping Container Lines Co., Ltd. (a)(b) | 500,350 | 113,525 | ||||||
China Shipping Development Co., Ltd. (a)(b) | 124,000 | 70,656 | ||||||
China Telecom Corp., Ltd. | 1,118,000 | 517,416 | ||||||
China Vanke Co., Ltd. (Class B) | 47,000 | 78,161 | ||||||
Chongqing Changan Automobile Co., Ltd. (Class B) | 42,400 | 70,402 | ||||||
Chongqing Machinery & Electric Co., Ltd. | 44,000 | 5,842 | ||||||
Coland Holdings, Ltd. | 11,938 | 31,950 | ||||||
Coolpad Group, Ltd. | 76,000 | 37,329 | ||||||
Country Garden Holdings Co., Ltd. | 221,000 | 92,308 | ||||||
Ctrip.com International, Ltd. ADR (a)(b) | 12,529 | 631,712 | ||||||
Datang International Power Generation Co., Ltd. (b) | 372,000 | 135,716 | ||||||
Dongfang Electric Corp., Ltd. (b) | 12,400 | 19,310 | ||||||
Dongfeng Motor Group Co., Ltd. | 310,000 | 438,801 | ||||||
Great Wall Motor Co., Ltd. (Class H) (b) | 49,750 | 249,486 | ||||||
Guangdong Electric Power Development Co. Ltd. | 72,500 | 42,713 | ||||||
Guangshen Railway Co., Ltd. | 248,000 | 104,865 | ||||||
Guangzhou Automobile Group Co., Ltd. | 144,636 | 151,963 | ||||||
Guangzhou Baiyunshan Pharmaceu | 6,000 | 20,343 | ||||||
Guangzhou R&F Properties Co., Ltd. (Class H) (b) | 111,600 | 160,846 | ||||||
Guodian Technology & Environment Group Co., Ltd. (Class H) (b) | 26,000 | 6,905 | ||||||
Hainan Meilan International Airport Co., Ltd. (Class H) | 18,000 | 16,963 | ||||||
Hangzhou Steam Turbine Co. | 15,900 | 18,325 | ||||||
Harbin Electric Co., Ltd. (b) | 62,000 | 35,088 | ||||||
Hengan International Group Co., Ltd. | 25,500 | 264,137 | ||||||
Huadian Power International Co. | 372,000 | 180,795 | ||||||
Huaneng Power International, Inc. | 310,000 | 296,530 | ||||||
Huaneng Renewables Corp., Ltd. (Class H) | 120,000 | 40,686 | ||||||
Huangshan Tourism Development Co., Ltd. | 28,700 | 34,641 | ||||||
Industrial & Commercial Bank of China | 3,550,590 | 2,183,345 | ||||||
Inner Mongolia Yitai Coal Co., Ltd. (Class B) | 9,300 | 11,216 | ||||||
Jiangsu Expressway Co., Ltd. (b) | 188,000 | 214,246 | ||||||
Jiangsu Future Land Co., Ltd. | 73,900 | 37,098 | ||||||
Jiangxi Copper Co., Ltd. (Class H) (b) | 64,000 | 107,587 | ||||||
Kingsoft Corp., Ltd. (b) | 28,000 | 110,274 | ||||||
Konka Group Co., Ltd. | 285,900 | 107,990 | ||||||
Lao Feng Xiang Co., Ltd. (Class B) | 8,000 | 20,400 | ||||||
Livzon Pharmaceutical Group, Inc. (Class H) (a) | 3,000 | 18,216 | ||||||
Maanshan Iron & Steel (a)(b) | 186,000 | 41,003 | ||||||
Mindray Medical International, Ltd. ADR (b) | 2,559 | 82,809 | ||||||
NetEase, Inc. ADR | 7,397 | 497,818 | ||||||
New Oriental Education & Technology Group, Inc. ADR (b) | 5,060 | 148,511 | ||||||
Nine Dragons Paper Holdings, Ltd. (b) | 93,000 | 72,414 | ||||||
Parkson Retail Group, Ltd. (b) | 77,134 | 24,263 | ||||||
People’s Insurance Co. Group of China, Ltd. (Class H) | 152,000 | 62,704 | ||||||
PetroChina Co., Ltd. | 1,364,000 | 1,485,848 | ||||||
PICC Property & Casualty Co., Ltd. | 295,712 | 404,852 | ||||||
Ping An Insurance Group Co. of China, Ltd. | 87,000 | 721,163 | ||||||
Renhe Commercial Holdings Co., Ltd. (a)(b) | 290,000 | 17,945 | ||||||
Semiconductor Manufacturing International Corp. (a)(b) | 1,050,000 | 78,509 | ||||||
Shandong Chenming Paper Holdings Ltd. (Class B) | 13,200 | 6,517 | ||||||
Shandong Luoxin Pharmacy Stock Co., Ltd. (Class H) | 8,000 | 10,293 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. | 84,000 | 95,727 | ||||||
Shanghai Dajiang Group, Class B (a) | 246,401 | 91,415 | ||||||
Shanghai Electric Group Co., Ltd. | 352,000 | 124,790 |
See accompanying notes to financial statements.
132
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Shanghai Jinjiang International Industrial Investment Co. Ltd. | 34,100 | $ | 30,963 | |||||
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. | 81,934 | 82,426 | ||||||
Shenzhen Expressway Co., Ltd. | 248,000 | 112,218 | ||||||
Shenzhou International Group Holdings, Ltd. | 6,000 | 19,066 | ||||||
Sihuan Pharmaceutical Holdings Group, Ltd. | 16,000 | 19,286 | ||||||
Sina Corp. (a)(b) | 3,556 | 214,818 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. | 372,000 | 95,913 | ||||||
Sinopharm Group Co., Ltd. (Class H) (b) | 18,800 | 51,501 | ||||||
Soho China, Ltd. | 21,500 | 17,683 | ||||||
SPT Energy Group, Inc. | 20,000 | 9,875 | ||||||
Suntech Power Holdings Co., Ltd. ADR (a)(b) | 8,143 | 2,855 | ||||||
Tencent Holdings, Ltd. | 66,800 | 4,645,916 | ||||||
Tingyi Cayman Islands Holding Corp. | 186,000 | 533,515 | ||||||
Tong Ren Tang Technologies Co., Ltd. | 5,000 | 16,050 | ||||||
Travelsky Technology, Ltd. (b) | 226,000 | 200,447 | ||||||
Want Want China Holdings, Ltd. | 343,000 | 512,043 | ||||||
Weiqiao Textile Co. (b) | 78,000 | 43,037 | ||||||
WuXi PharmaTech Cayman, Inc. ADR (a) | 620 | 22,853 | ||||||
Yanzhou Coal Mining Co., Ltd. (b) | 186,000 | 140,752 | ||||||
Youku Tudou, Inc. ADR (a)(b) | 4,652 | 130,442 | ||||||
Zhejiang Expressway Co., Ltd. (Class H) | 248,000 | 226,034 | ||||||
Zhuzhou CSR Times Electric Co., Ltd. | 24,000 | 80,907 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (b) | 375,000 | 79,766 | ||||||
ZTE Corp. (a)(b) | 81,473 | 158,177 | ||||||
32,893,107 | ||||||||
COLOMBIA — 0.8% | ||||||||
Almacenes Exito SA | 6,296 | 94,933 | ||||||
Banco Davivienda SA Preference Shares | 10,588 | 137,057 | ||||||
Banco de Bogota SA | 3,090 | 109,823 | ||||||
Bancolombia SA | 9,835 | 134,604 | ||||||
BanColombia SA ADR (b) | 3,545 | 200,222 | ||||||
Bolsa de Valores de Colombia | 6,419,941 | 70,775 | ||||||
Cementos Argos SA | 6,997 | 35,831 | ||||||
Corp Financiera Colombiana SA | 2,994 | 56,947 | ||||||
Ecopetrol SA | 93,183 | 190,778 | ||||||
Empresa de Telecomunicaciones de Bogota | 186,460 | 41,680 | ||||||
Fabricato SA (a) | 1,220,646 | 9,922 | ||||||
Grupo Argos SA | 2,826 | 29,690 | ||||||
Grupo Aval Acciones y Valores | 281,491 | 185,191 | ||||||
Grupo de Inversiones Suramericana SA | 4,139 | 76,749 | ||||||
Grupo Nutresa SA | 3,556 | 49,282 | ||||||
Grupo Odinsa SA | 19,484 | 80,177 | ||||||
Interbolsa SA/Colombia (a)(d) | 52,588 | 0 | ||||||
Interconexion Electrica SA ESP | 14,346 | 64,063 | ||||||
Isagen SA ESP | 63,235 | 103,764 | ||||||
1,671,488 | ||||||||
CZECH REPUBLIC — 0.5% | ||||||||
CEZ AS | 12,921 | 370,682 | ||||||
Komercni Banka AS | 1,360 | 325,249 | ||||||
Telefonica O2 Czech Republic AS | 9,089 | 136,539 | ||||||
Unipetrol (a) | 9,208 | 66,827 | ||||||
899,297 | ||||||||
EGYPT — 0.5% | ||||||||
Commercial International Bank Egypt SAE | 130,833 | 667,736 | ||||||
Egyptian Financial Group-Hermes Holding (a) | 46,827 | 82,868 | ||||||
Egyptian Kuwait Holding Co. | 37,224 | 39,457 | ||||||
Global Telecom Holding (a) | 49,508 | 31,478 | ||||||
Global Telecom Holding GDR (a)(e) | 31,913 | 106,249 | ||||||
Orascom Telecom Media & Technology Holding SAE | 40,739 | 7,309 | ||||||
935,097 | ||||||||
HONG KONG — 6.2% | ||||||||
AAC Technologies Holdings, Inc. (b) | 79,000 | 408,899 | ||||||
Agile Property Holdings, Ltd. (b) | 186,000 | 152,501 | ||||||
AMVIG Holdings, Ltd. | 38,000 | 14,549 | ||||||
AviChina Industry & Technology Co. (b) | 88,000 | 49,008 | ||||||
Beijing Capital International Airport Co., Ltd. | 186,000 | 127,564 | ||||||
Beijing Capital Land, Ltd. | 24,000 | 8,818 | ||||||
Beijing Enterprises Holdings, Ltd. | 12,000 | 107,515 | ||||||
Beijing Enterprises Water Group, Ltd. (b) | 48,000 | 33,600 | ||||||
Belle International Holdings, Ltd. (b) | 161,000 | 160,439 | ||||||
Biostime International Holdings, Ltd. | 5,000 | 34,291 | ||||||
C.banner International Holdings, Ltd. | 12,000 | 3,852 | ||||||
Chailease Holding Co., Ltd. | 29,000 | 69,613 | ||||||
Chaoda Modern Agriculture Holdings, Ltd. (a)(b)(f) | 136,550 | 0 | ||||||
China All Access Holdings, Ltd. | 28,000 | 12,345 | ||||||
China Everbright International, Ltd. (b) | 69,000 | 94,466 | ||||||
China Gas Holdings, Ltd. | 100,000 | 156,245 | ||||||
China High Speed Transmission Equipment Group Co., Ltd. (a)(b) | 36,000 | 26,871 | ||||||
China Medical System Holdings, Ltd. (b) | 69,000 | 78,099 | ||||||
China Mengniu Dairy Co., Ltd. | 93,000 | 465,776 | ||||||
China Merchants Holdings International Co., Ltd. | 71,099 | 244,267 | ||||||
China Mobile Games & Entertainment Group, Ltd. ADR (a) | 70 | 1,546 | ||||||
China Mobile, Ltd. | 336,500 | 3,079,972 | ||||||
China Modern Dairy Holdings, Ltd. (a)(b) | 95,000 | 40,782 | ||||||
China Oil and Gas Group, Ltd. | 120,000 | 20,420 | ||||||
China Overseas Grand Oceans Group, Ltd. (b) | 26,000 | 17,094 | ||||||
China Overseas Land & Investment, Ltd. (b) | 251,200 | 650,907 | ||||||
China Power International Development, Ltd. (b) | 310,000 | 107,502 |
See accompanying notes to financial statements.
133
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
China Resources Enterprise, Ltd. (b) | 62,000 | $ | 175,041 | |||||
China Resources Gas Group, Ltd. | 8,000 | 25,474 | ||||||
China Resources Land, Ltd. (b) | 124,000 | 272,073 | ||||||
China Resources Power Holdings Co., Ltd. | 129,600 | 337,489 | ||||||
China Singyes Solar Technologies Holdings, Ltd. | 8,000 | 12,644 | ||||||
China State Construction International Holdings, Ltd. (b) | 14,000 | 23,715 | ||||||
China Taiping Insurance Holdings Co., Ltd. (a) | 9,000 | 16,104 | ||||||
China Travel International Investment Hong Kong, Ltd. | 310,000 | 61,944 | ||||||
China Unicom (Hong Kong), Ltd. | 253,668 | 333,556 | ||||||
China Yurun Food Group, Ltd. (a)(b) | 12,000 | 6,188 | ||||||
Citic Pacific, Ltd. (b) | 62,000 | 109,980 | ||||||
CITIC Telecom International Holdings, Ltd. | 33,000 | 12,337 | ||||||
CNOOC, Ltd. | 1,018,000 | 1,530,206 | ||||||
Comba Telecom Systems Holdings, Ltd. (a)(b) | 33,780 | 8,840 | ||||||
COSCO Pacific, Ltd. | 136,459 | 174,157 | ||||||
Digital China Holdings, Ltd. | 33,000 | 33,268 | ||||||
GCL Poly Energy Holdings, Ltd. (a)(b) | 161,000 | 58,115 | ||||||
Geely Automobile Holdings, Ltd. (b) | 115,000 | 45,217 | ||||||
Greatview Aseptic Packaging Co., Ltd. | 10,000 | 5,311 | ||||||
Greentown China Holdings, Ltd. | 25,500 | 27,548 | ||||||
Guangdong Investment, Ltd. | 250,000 | 238,815 | ||||||
Haier Electronics Group Co., Ltd. | 7,000 | 18,951 | ||||||
Hanergy Solar Group, Ltd. (a)(b) | 362,000 | 56,934 | ||||||
Hengdeli Holdings, Ltd. (b) | 813,600 | 156,279 | ||||||
Honghua Group, Ltd. (b) | 14,000 | 3,447 | ||||||
Hopson Development Holdings, Ltd. (a)(b) | 26,000 | 24,166 | ||||||
Hua Han Bio-Pharmaceutical Holdings, Ltd. (b) | 120,000 | 26,453 | ||||||
Huabao International Holdings, Ltd. (b) | 36,000 | 16,522 | ||||||
Ju Teng International Holdings, Ltd. | 36,000 | 25,479 | ||||||
Kaisa Group Holdings, Ltd. (a)(b) | 32,000 | 11,510 | ||||||
Kingboard Chemical Holdings, Ltd. | 59,340 | 115,818 | ||||||
Kingboard Laminates Holdings, Ltd. | 34,500 | 12,631 | ||||||
Kunlun Energy Co., Ltd. (b) | 310,000 | 518,728 | ||||||
KWG Property Holding, Ltd. | 56,000 | 30,754 | ||||||
Lee & Man Paper Manufacturing, Ltd. | 29,000 | 18,020 | ||||||
Lenovo Group, Ltd. (b) | 434,000 | 479,484 | ||||||
Li Ning Co., Ltd. (a)(b) | 62,000 | 41,882 | ||||||
Minth Group, Ltd. | 18,000 | 36,663 | ||||||
NetDragon Websoft, Inc. | 4,500 | 8,133 | ||||||
Newocean Energy Holdings, Ltd. (b) | 22,000 | 17,017 | ||||||
Poly Hong Kong Investments, Ltd. (b) | 11,000 | 4,864 | ||||||
Real Nutriceutical Group, Ltd. (b) | 21,000 | 4,711 | ||||||
Shenzhen International Holdings Ltd. | 27,750 | 34,737 | ||||||
Shenzhen Investment, Ltd. | 80,789 | 26,141 | ||||||
Shimao Property Holdings, Ltd. | 93,000 | 203,815 | ||||||
Sino Biopharmaceutical | 120,000 | 102,255 | ||||||
Sino-Ocean Land Holdings, Ltd. (b) | 233,563 | 127,666 | ||||||
Sinotrans, Ltd. | 310,000 | 155,858 | ||||||
Skyworth Digital Holdings, Ltd. (b) | 55,642 | 30,557 | ||||||
Sun Art Retail Group Ltd. (b) | 13,000 | 16,340 | ||||||
Sunac China Holdings, Ltd. (b) | 64,000 | 37,128 | ||||||
Sunny Optical Technology Group Co., Ltd. (b) | 27,000 | 26,279 | ||||||
Tianneng Power International, Ltd. | 14,000 | 4,729 | ||||||
Tibet 5100 Water Resources Holdings, Ltd. (b) | 20,000 | 8,173 | ||||||
VODone, Ltd. (a) | 108,200 | 11,717 | ||||||
Wasion Group Holdings, Ltd. | 18,000 | 12,809 | ||||||
Yingde Gases | 21,000 | 20,033 | ||||||
Yip’s Chemical Holdings, Ltd. | 10,000 | 6,910 | ||||||
Yuexiu Property Co., Ltd. (b) | 434,000 | 89,519 | ||||||
Yuexiu Transport Infrastructure, Ltd. | 1,258 | 649 | ||||||
12,218,724 | ||||||||
HUNGARY — 0.4% | ||||||||
MOL Hungarian Oil and Gas NyRt | 4,322 | 243,174 | ||||||
OTP Bank NyRt (b) | 17,466 | 334,513 | ||||||
Richter Gedeon NyRt | 14,954 | 260,793 | ||||||
838,480 | ||||||||
INDIA — 8.8% | ||||||||
Adani Enterprises, Ltd. | 895 | 5,515 | ||||||
Alok Industries Ltd. | 221,493 | 24,107 | ||||||
Ambuja Cements, Ltd. (a) | 31,174 | 105,546 | ||||||
Amtek Auto, Ltd. | 7,273 | 19,375 | ||||||
Anant Raj, Ltd. (a) | 49,965 | 47,646 | ||||||
Apollo Hospitals Enterprise, Ltd. | 4,460 | 68,439 | ||||||
Ashok Leyland, Ltd. | 26,823 | 10,622 | ||||||
Aurobindo Pharma, Ltd. | 7,274 | 62,299 | ||||||
Axis Bank, Ltd. | 2,501 | 61,161 | ||||||
Bajaj Hindusthan, Ltd. (a) | 76,282 | 20,883 | ||||||
Bajaj Holdings and Investment, Ltd. | 1,856 | 31,848 | ||||||
Balrampur Chini Mills, Ltd. | 37,995 | 35,531 | ||||||
BF Investment, Ltd. (a) | 8,953 | 9,977 | ||||||
Bharat Heavy Electricals, Ltd. | 57,997 | 190,386 | ||||||
Bharti Airtel, Ltd. | 113,443 | 603,567 | ||||||
Biocon, Ltd. | 2,014 | 14,312 | ||||||
Britannia Industries, Ltd. | 3,809 | 53,791 | ||||||
Cipla, Ltd. | 39,590 | 253,758 | ||||||
Core Education & Technologies, Ltd. (a) | 9,585 | 1,974 | ||||||
DCB Bank, Ltd. (a) | 105,088 | 107,776 | ||||||
Dewan Housing Finance Corp., Ltd. | 13,067 | 47,861 | ||||||
Dr. Reddy’s Laboratories, Ltd. ADR | 11,507 | 505,157 | ||||||
Educomp Solutions, Ltd. (a) | 15,746 | 6,591 | ||||||
Era Infra Engineering, Ltd. (a) | 2,818 | 632 | ||||||
Fortis Healthcare, Ltd. (a) | 20,688 | 33,844 | ||||||
GAIL India, Ltd. | 43,555 | 274,249 | ||||||
Gammon India, Ltd. (a) | 2,510 | 622 | ||||||
Gateway Distriparks, Ltd. | 12,377 | 34,350 | ||||||
Gitanjali Gems Ltd. (a) | 1,626 | 1,605 | ||||||
Glenmark Pharmaceuticals, Ltd. | 706 | 6,681 | ||||||
Godrej Consumer Products Ltd. | 2,418 | 34,793 | ||||||
Godrej Industries, Ltd. | 21,280 | 112,453 | ||||||
Grasim Industries, Ltd. GDR (c) | 722 | 34,735 | ||||||
Grasim Industries, Ltd. GDR (c) | 180 | 8,704 | ||||||
Gruh Finance Ltd. | 17,404 | 86,055 | ||||||
GTL Infrastructure Ltd. (a) | 273,670 | 6,644 |
See accompanying notes to financial statements.
134
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
GTL, Ltd. (a) | 1,891 | $ | 453 | |||||
Gujarat NRE Coke, Ltd. (a) | 12,405 | 1,786 | ||||||
GVK Power & Infrastructure, Ltd. (a) | 109,642 | 20,286 | ||||||
HCL Technologies, Ltd. | 11,141 | 259,430 | ||||||
HDFC Bank, Ltd. | 83,210 | 1,043,286 | ||||||
Hero Motocorp, Ltd. | 12,675 | 482,784 | ||||||
Hindalco Industries, Ltd. | 40,352 | 95,775 | ||||||
Hindustan Construction Co. (a) | 13,633 | 3,858 | ||||||
Hindustan Unilever, Ltd. | 55,781 | 565,586 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 11,520 | 11,111 | ||||||
Housing Development Finance Corp., Ltd. | 86,065 | 1,273,772 | ||||||
ICICI Bank, Ltd. ADR | 17,851 | 781,874 | ||||||
Idea Cellular, Ltd. | 4,693 | 10,801 | ||||||
IDFC, Ltd. | 1,142 | 2,338 | ||||||
IIFL Holdings, Ltd. | 155,863 | 203,955 | ||||||
Indiabulls Infrastructure & Power, Ltd. (a) | 45,176 | 2,307 | ||||||
Indiabulls Real Estate, Ltd. | 16,549 | 15,102 | ||||||
Indian Hotels Co., Ltd. | 54,447 | 66,278 | ||||||
Infosys Technologies, Ltd. ADR (b) | 29,607 | 1,604,107 | ||||||
IRB Infrastructure Developers, Ltd. | 3,587 | 6,204 | ||||||
ITC, Ltd. GDR (c) | 3,032 | 17,846 | ||||||
ITC, Ltd. GDR (c) | 39,768 | 234,957 | ||||||
IVRCL Infrastructures & Projects, Ltd. (a) | 13,976 | 3,089 | ||||||
Jain Irrigation Systems, Ltd. (c) | 9,497 | 10,408 | ||||||
Jain Irrigation Systems, Ltd. (c) | 395 | 204 | ||||||
Jaiprakash Associates, Ltd. | 51,071 | 45,921 | ||||||
Jet Airways India, Ltd. (a) | 11,266 | 46,830 | ||||||
Jindal Steel & Power, Ltd. | 4,693 | 22,981 | ||||||
Lanco Infratech, Ltd. (a) | 28,494 | 3,387 | ||||||
Larsen & Toubro, Ltd. GDR | 19,094 | 406,702 | ||||||
LIC Housing Finance, Ltd. | 12,523 | 49,517 | ||||||
Mahanagar Telephone Nigam (a) | 42,275 | 10,759 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 11,293 | 47,651 | ||||||
Mahindra & Mahindra, Ltd. GDR | 21,800 | 355,340 | ||||||
Maruti Suzuki India, Ltd. | 9,558 | 315,559 | ||||||
Monnet Ispat, Ltd. | 5,017 | 7,447 | ||||||
MRF, Ltd. | 112 | 40,861 | ||||||
Nagarjuna Construction Co., Ltd. | 9,397 | 5,586 | ||||||
Oil & Natural Gas Corp., Ltd. | 113,335 | 604,795 | ||||||
OnMobile Global, Ltd. | 3,190 | 1,773 | ||||||
Opto Circuits India, Ltd. (a) | 4,490 | 2,045 | ||||||
OVANITC, Ltd. | 6,198 | 36,619 | ||||||
PTC India, Ltd. | 36,435 | 41,363 | ||||||
Punj Lloyd, Ltd. (a) | 10,164 | 4,816 | ||||||
REI Agro, Ltd. | 34,531 | 2,573 | ||||||
Reliance Capital, Ltd. | 5,012 | 29,028 | ||||||
Reliance Communications, Ltd. | 61,658 | 133,077 | ||||||
Reliance Industries, Ltd. GDR (e) | 49,276 | 1,527,556 | ||||||
Reliance Infrastructure, Ltd. | 14,734 | 106,985 | ||||||
Rolta India, Ltd. | 4,693 | 5,760 | ||||||
Ruchi Soya Industries Ltd. | 26,785 | 13,118 | ||||||
SE Investments Ltd. | 22,665 | 138,899 | ||||||
Sesa Sterlite, Ltd. | 20,670 | 65,257 | ||||||
Shree Renuka Sugars, Ltd. | 60,594 | 21,864 | ||||||
Shriram Transport Finance Co., Ltd. | 3,273 | 42,062 | ||||||
Siemens India, Ltd. | 13,434 | 173,733 | ||||||
Sintex Industries, Ltd. | 33,848 | 24,654 | ||||||
State Bank of India GDR | 2,886 | 183,550 | ||||||
Strides Arcolab, Ltd. | 1,613 | 10,454 | ||||||
Sun Pharmaceutical Industries, Ltd. | 26,569 | 255,691 | ||||||
Sun TV Network, Ltd. | 4,460 | 30,002 | ||||||
Suzlon Energy, Ltd. (a) | 274,273 | 50,976 | ||||||
Tata Communications Ltd. | 10,019 | 51,519 | ||||||
Tata Consultancy Services, Ltd. | 27,315 | 975,629 | ||||||
Tata Motors, Ltd. ADR | 14,897 | 527,503 | ||||||
Tata Power Co., Ltd. | 126,291 | 180,061 | ||||||
Tata Steel, Ltd. | 21,352 | 140,845 | ||||||
Ultratech Cement, Ltd. GDR | 297 | 10,876 | ||||||
Unitech, Ltd. (a) | 93,463 | 21,909 | ||||||
United Breweries, Ltd. | 3,132 | 43,213 | ||||||
United Spirits, Ltd. | 3,261 | 144,558 | ||||||
Videocon Industries, Ltd. | 16,147 | 43,435 | ||||||
VST Industries Ltd. | 1,170 | 32,245 | ||||||
Wipro, Ltd. ADR (b) | 34,492 | 462,193 | ||||||
Wockhardt Ltd. | 1,373 | 10,522 | ||||||
Zee Entertainment Enterprises, Ltd. | 24,594 | 111,743 | ||||||
17,262,528 | ||||||||
INDONESIA — 3.5% | ||||||||
Alam Sutera Realty Tbk PT | 396,400 | 20,762 | ||||||
Astra International Tbk PT | 1,793,900 | 1,164,614 | ||||||
Bank Central Asia Tbk PT | 1,104,100 | 1,030,234 | ||||||
Bank Danamon Indonesia Tbk PT | 265,118 | 101,520 | ||||||
Bank Mandiri Tbk PT | 657,649 | 547,076 | ||||||
Bank Negara Indonesia Persero Tbk PT | 107,000 | 46,718 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 1,007,800 | 849,444 | ||||||
Barito Pacific Tbk PT (a) | 524,400 | 15,695 | ||||||
Bekasi Fajar Industrial Estate Tbk PT | 247,000 | 12,285 | ||||||
Bumi Resources Tbk PT (a) | 918,600 | 21,752 | ||||||
Bumi Serpong Damai PT | 210,700 | 30,325 | ||||||
BW Plantation Tbk PT | 214,000 | 24,772 | ||||||
Charoen Pokphand Indonesia Tbk PT | 230,000 | 80,885 | ||||||
Ciputra Development Tbk PT | 323,500 | 33,033 | ||||||
Citra Marga Nusaphala Persada Tbk PT (a) | 62,000 | 18,475 | ||||||
Garuda Indonesia Tbk PT (a) | 703,700 | 30,787 | ||||||
Global Mediacom Tbk PT | 34,300 | 7,096 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 28,100 | 57,820 | ||||||
Indofood Sukses Makmur Tbk PT | 691,500 | 444,362 | ||||||
Indosat Tbk PT | 139,500 | 48,506 | ||||||
Japfa Comfeed Indonesia Tbk PT | 60,500 | 7,509 | ||||||
Kalbe Farma Tbk PT | 3,821,700 | 492,851 | ||||||
Kawasan Industri Jababeka Tbk PT | 262,495 | 5,915 | ||||||
Lippo Cikarang Tbk PT (a) | 10,200 | 6,734 | ||||||
Lippo Karawaci Tbk PT | 680,400 | 64,985 | ||||||
Matahari Putra Prima Tbk PT | 34,400 | 8,131 | ||||||
Mayora Indah Tbk PT | 19,567 | 51,673 | ||||||
Medco Energi Internasional Tbk PT | 363,200 | 86,963 | ||||||
Media Nusantara Citra Tbk PT | 44,600 | 10,326 | ||||||
Modernland Realty Tbk PT (a) | 424,800 | 16,678 | ||||||
Pakuwon Jati Tbk PT | 299,300 | 9,221 | ||||||
Perusahaan Gas Negara Persero Tbk PT | 796,100 | 359,156 | ||||||
Semen Gresik Persero Tbk PT | 45,000 | 62,588 |
See accompanying notes to financial statements.
135
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Sigmagold Inti Perkasa Tbk PT (a) | 682,300 | $ | 28,049 | |||||
Summarecon Agung Tbk PT | 231,900 | 21,741 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 2,015,900 | 393,065 | ||||||
Tiga Pilar Sejahtera Food Tbk | 327,300 | 59,352 | ||||||
Unilever Indonesia Tbk PT | 33,400 | 85,999 | ||||||
United Tractors Tbk PT | 230,818 | 421,609 | ||||||
XL Axiata Tbk PT | 34,800 | 13,479 | ||||||
6,792,185 | ||||||||
MALAYSIA — 3.7% | ||||||||
Aeon Co. M Bhd | 113,300 | 498,929 | ||||||
Aeon Credit Service M Bhd | 5,900 | 26,560 | ||||||
AirAsia Bhd | 66,800 | 52,164 | ||||||
Alliance Financial Group Bhd | 255,500 | 345,048 | ||||||
Axiata Group Bhd | 73,600 | 150,333 | ||||||
Berjaya Sports Toto Bhd | 119,606 | 145,410 | ||||||
Bintulu Port Holdings Bhd | 94 | 213 | ||||||
British American Tobacco Malaysia Bhd | 2,500 | 45,261 | ||||||
Bursa Malaysia Bhd | 52,593 | 121,598 | ||||||
CapitaMalls Malaysia Trust | 83,700 | 37,678 | ||||||
Carlsberg Brewery Malay Bhd | 155,697 | 620,785 | ||||||
CIMB Group Holdings Bhd | 46,992 | 102,892 | ||||||
Dialog Group Bhd | 688,959 | 757,422 | ||||||
Digi.Com Bhd | 329,200 | 543,374 | ||||||
Faber Group BHD | 42,500 | 37,483 | ||||||
Felda Global Ventures Holdings Bhd | 25,300 | 36,027 | ||||||
Genting Bhd | 199,400 | 610,626 | ||||||
Genting Malaysia Bhd | 31,500 | 40,514 | ||||||
Guan Chong Bhd | 57,500 | 23,947 | ||||||
Hap Seng Plantations Holdings Bhd | 8,000 | 6,639 | ||||||
IGB Corp. Bhd | 271,853 | 225,608 | ||||||
IHH Healthcare Bhd (a) | 45,100 | 53,173 | ||||||
IOI Corp. Bhd | 315,260 | 463,405 | ||||||
IOI Properties Group Sdn Bhd (a) | 188,229 | 153,327 | ||||||
JT International Bhd | 2,500 | 4,976 | ||||||
KLCC Property Holdings Bhd | 33,200 | 64,560 | ||||||
KNM Group Bhd (a) | 224,918 | 53,380 | ||||||
KPJ Healthcare Bhd | 20,840 | 19,082 | ||||||
Lingkaran Trans Kota Holdings Bhd | 21,500 | 25,283 | ||||||
Magnum Bhd | 189,560 | 173,567 | ||||||
Malaysian Airline System Bhd (a) | 1,485,400 | 95,524 | ||||||
Malaysian Resources Corp. Bhd | 354,900 | 178,238 | ||||||
MPHB Capital Bhd (a) | 91,730 | 51,125 | ||||||
Naim Holdings Bhd | 87 | 91 | ||||||
OSK Holdings Bhd | 355,506 | 181,808 | ||||||
Pavilion Real Estate Investment Trust | 79,600 | 31,933 | ||||||
POS Malaysia Bhd | 62,200 | 90,857 | ||||||
Sapurakencana Petroleum Bhd (a) | 33,100 | 45,613 | ||||||
Sime Darby Bhd | 54,185 | 154,482 | ||||||
SP Setia Bhd | 19,000 | 16,990 | ||||||
Sunway Real Estate Investment Trust | 82,700 | 34,443 | ||||||
TA Enterprise Bhd | 324,800 | 81,561 | ||||||
TA Global Bhd | 252,966 | 24,015 | ||||||
TA Global Bhd Preference Shares (a) | 3,790 | 348 | ||||||
Tebrau Teguh Bhd (a) | 23,100 | 8,701 | ||||||
Telekom Malaysia Bhd | 38,600 | 69,623 | ||||||
Tenaga Nasional Bhd | 43,600 | 159,686 | ||||||
UEM Sunrise Bhd | 262,388 | 176,773 | ||||||
UMW Holdings Bhd | 18,700 | 62,877 | ||||||
Unisem M Bhd | 20,300 | 6,403 | ||||||
United Plantations Bhd | 4,200 | 32,283 | ||||||
WCT Holdings Bhd | 415,370 | 276,023 | ||||||
7,218,661 | ||||||||
MEXICO — 5.7% | ||||||||
Alfa SAB de CV (Class A) | 266,634 | 674,720 | ||||||
America Movil SAB de CV (b) | 2,565,198 | 2,543,819 | ||||||
Axtel SAB de CV (a)(b) | 100,907 | 34,490 | ||||||
Cemex SAB de CV (a)(b) | 627,371 | 793,304 | ||||||
Coca-Cola Femsa SAB de CV | 38,523 | 405,578 | ||||||
Consorcio ARA SAB de CV (a) | 100,260 | 44,948 | ||||||
Corporacion GEO SAB de CV (a)(b)(f) | 42,565 | 0 | ||||||
Desarrolladora Homex SAB de CV (a)(b)(d) | 17,502 | 4,225 | ||||||
Empresas ICA SAB de CV (a)(b) | 41,104 | 68,387 | ||||||
Fomento Economico Mexicano SAB de CV (b) | 131,174 | 1,222,498 | ||||||
Grupo Aeroportuario del Sureste SAB de CV | 39,724 | 487,480 | ||||||
Grupo Bimbo SAB de CV | 196,940 | 531,864 | ||||||
Grupo Elektra SA de CV | 3,118 | 96,197 | ||||||
Grupo Financiero Banorte SAB de CV | 96,535 | 649,769 | ||||||
Grupo Financiero Inbursa SA | 77,382 | 199,255 | ||||||
Grupo Mexico SAB de CV | 190,997 | 603,491 | ||||||
Grupo Televisa SA de CV (Series CPO) (b) | 117,124 | 781,530 | ||||||
Impulsora Del Desarrollo Y El Empleo en America Latina SA de CV (a)(b) | 104,369 | 247,630 | ||||||
Industrias CH SAB, Series B (a) | 26,818 | 149,065 | ||||||
Industrias Penoles SA de CV | 9,302 | 243,230 | ||||||
Kimberly-Clark de Mexico SAB de CV | 162,156 | 434,446 | ||||||
Sare Holding SAB de CV (Class B) (a) | 119,219 | 3,371 | ||||||
TV Azteca SAB de CV | 230,650 | 140,878 | ||||||
Urbi Desarrollos Urbanos SA de CV (a)(b)(f) | 44,913 | 0 | ||||||
Wal-Mart de Mexico SAB de CV (b) | 339,670 | 806,436 | ||||||
11,166,611 | ||||||||
MOROCCO — 0.4% | ||||||||
Banque Marocaine du Commerce Exterieur | 17,417 | 446,661 | ||||||
Banque Marocaine pour le Commerce et l’Industrie SA | 1,435 | 137,343 | ||||||
Douja Promotion Groupe Addoha SA | 10,990 | 82,259 | ||||||
Holcim Maroc SA | 806 | �� | 153,690 | |||||
819,953 | ||||||||
NETHERLANDS — 0.2% | ||||||||
VimpelCom, Ltd. ADR | 31,142 | 281,212 | ||||||
Yandex NV (Class A) (a) | 5,983 | 180,627 | ||||||
461,839 | ||||||||
PANAMA — 0.1% | ||||||||
Avianca Taca Holding SA Preference Shares | 94,139 | 201,583 | ||||||
See accompanying notes to financial statements.
136
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
PERU — 0.8% | ||||||||
Compania de Minas Buenaventura SA ADR | 19,971 | $ | 251,035 | |||||
Credicorp, Ltd. | 6,011 | 829,037 | ||||||
Southern Copper Corp. (b) | 15,781 | 459,385 | ||||||
Volcan Compania Minera SAA (Class B) | 270,261 | 102,966 | ||||||
1,642,423 | ||||||||
PHILIPPINES — 1.3% | ||||||||
Alliance Global Group, Inc. | 125,100 | 79,504 | ||||||
Ayala Land, Inc. | 802,680 | 535,180 | ||||||
Bank of the Philippine Islands | 288,397 | 552,421 | ||||||
BDO Unibank, Inc. | 205,034 | 388,625 | ||||||
Cebu Air, Inc. | 87,040 | 93,066 | ||||||
Cebu Holdings, Inc. | 441,800 | 49,259 | ||||||
East West Banking Corp. (a) | 48,700 | 31,058 | ||||||
Filinvest Land, Inc. | 3,692,000 | 118,552 | ||||||
First Philippine Holdings Corp. | 24,430 | 39,495 | ||||||
GMA Holdings, Inc. | 214,300 | 37,178 | ||||||
GT Capital Holdings, Inc. | 570 | 9,984 | ||||||
Megawide Construction Corp. (a) | 191,240 | 50,832 | ||||||
Megaworld Corp. | 404,000 | 37,747 | ||||||
Philippine Long Distance Telephone Co. | 6,165 | 375,303 | ||||||
Puregold Price Club, Inc. | 19,900 | 19,525 | ||||||
San Miguel Corp. | 8,590 | 14,558 | ||||||
SM Development Corp. | — | 1,037 | ||||||
SM Investments Corp. | 6,580 | 103,443 | ||||||
SM Prime Holdings, Inc. | 186,290 | 60,650 | ||||||
Top Frontier Investment Holding Ltd. (a) | 971 | 1,926 | ||||||
Universal Robina Corp. | 13,980 | 44,267 | ||||||
Vista Land & Lifescapes, Inc. | 64,100 | 7,533 | ||||||
2,651,143 | ||||||||
POLAND — 1.3% | ||||||||
Asseco Poland SA | 5,183 | 80,539 | ||||||
Bank Pekao SA | 9,459 | 615,489 | ||||||
Bioton SA (a) | 2,172 | 3,228 | ||||||
Eurocash SA | 488 | 6,459 | ||||||
Getin Holding SA | 19,018 | 20,457 | ||||||
Getin Noble Bank SA (a) | 51,669 | 54,552 | ||||||
Globe Trade Centre SA (a) | 11,604 | 27,691 | ||||||
Grupa Lotos SA (a) | 7,061 | 88,782 | ||||||
KGHM Polska Miedz SA | 10,132 | 365,187 | ||||||
LPP SA | 26 | 76,484 | ||||||
Mbank | 1,534 | 273,657 | ||||||
Orange Polska SA | 62,024 | 212,467 | ||||||
Orbis SA | 4,849 | 70,133 | ||||||
Polimex- Mostostal SA (a) | 48,255 | 1,757 | ||||||
Polski Koncern Naftowy Orlen SA | 2,526 | 36,133 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 30,226 | 424,969 | ||||||
Powszechny Zaklad Ubezpieczen SA | 1,794 | 255,022 | ||||||
Rovese SA (a) | 58,064 | 30,172 | ||||||
2,643,178 | ||||||||
RUSSIA — 5.9% | ||||||||
Evraz PLC (a) | 12,609 | 16,754 | ||||||
Gazprom OAO ADR | 341,327 | 2,628,218 | ||||||
Integra Group Holdings, GDR (a) | 188 | 3,196 | ||||||
LSR Group OJSC GDR (a) | 7,055 | 19,401 | ||||||
Lukoil OAO ADR | 40,976 | 2,276,627 | ||||||
Mechel OAO, ADR (a)(b) | 16,520 | 34,196 | ||||||
MMC Norilsk Nickel OJSC ADR | 56,843 | 945,299 | ||||||
Mobile Telesystems OJSC (a) | 12,258 | 94,088 | ||||||
Mobile Telesystems OJSC ADR | 50,752 | 887,652 | ||||||
NovaTek OAO GDR | 7,287 | 801,570 | ||||||
Novolipetsk Steel OJSC GDR (b) | 1,777 | 22,461 | ||||||
Novorossiysk Commercial Sea Trade Port PJSC GDR | 3,278 | 15,407 | ||||||
Pharmstandard GDR (a) | 3,671 | 31,938 | ||||||
Polymetal International PLC | 6,442 | 66,640 | ||||||
Rosneft Oil Co. GDR | 122,965 | 818,824 | ||||||
Rostelecom ADR | 5,393 | 76,850 | ||||||
Sberbank of Russia ADR (c) | 82,595 | 806,953 | ||||||
Sberbank of Russia ADR (c) | 7,522 | 73,114 | ||||||
Severstal GDR (b) | 29,475 | 223,126 | ||||||
Sistema JSFC GDR (b) | 7,829 | 176,231 | ||||||
Surgutneftegas OJSC ADR | 110,822 | 816,758 | ||||||
Tatneft OAO ADR | 17,959 | 615,275 | ||||||
TMK OAO GDR | 2,677 | 23,424 | ||||||
Uralkali OJSC GDR | 4,570 | 108,446 | ||||||
VTB Bank OJSC GDR | 32,485 | 71,435 | ||||||
X5 Retail Group NV GDR (a) | 2,177 | 34,114 | ||||||
11,687,997 | ||||||||
SOUTH AFRICA — 9.1% | ||||||||
Adcock Ingram Holdings, Ltd. | 6,560 | 36,798 | ||||||
Adcorp Holdings, Ltd. | 29,580 | 88,589 | ||||||
African Bank Investments, Ltd. (b) | 150,770 | 154,097 | ||||||
African Rainbow Minerals, Ltd. | 6,476 | 128,438 | ||||||
Allied Electronics Corp., Ltd. Preference Shares | 36,082 | 80,240 | ||||||
Anglo Platinum, Ltd. (a)(b) | 1,765 | 79,483 | ||||||
AngloGold Ashanti, Ltd. (a) | 15,589 | 271,083 | ||||||
Aquarius Platinum, Ltd. (a) | 25,887 | 15,321 | ||||||
ArcelorMittal South Africa, Ltd. (a) | 12,099 | 38,547 | ||||||
Aspen Pharmacare Holdings, Ltd. | 29,236 | 781,913 | ||||||
Aveng, Ltd. (a) | 34,929 | 75,252 | ||||||
Barclays Africa Group, Ltd. (b) | 20,997 | 297,450 | ||||||
Barloworld, Ltd. (b) | 14,942 | 156,652 | ||||||
Bidvest Group, Ltd. (b) | 21,908 | 579,907 | ||||||
Business Connexion Group, Ltd. | 128,590 | 70,910 | ||||||
Coronation Fund Managers, Ltd. | 60,836 | 572,620 | ||||||
Discovery Holdings, Ltd. | 19,680 | 157,864 | ||||||
FirstRand, Ltd. | 165,674 | 568,634 | ||||||
Gold Fields, Ltd. | 34,754 | 133,922 | ||||||
Grindrod, Ltd. (b) | 58,788 | 142,528 | ||||||
Group Five, Ltd. | 16,700 | 70,243 | ||||||
Harmony Gold Mining Co., Ltd. (a) | 14,063 | 43,722 | ||||||
Impala Platinum Holdings, Ltd. | 24,982 | 285,023 | ||||||
Imperial Holdings, Ltd. | 11,538 | 206,782 | ||||||
Investec, Ltd. | 12,734 | 102,716 | ||||||
Invicta Holdings, Ltd. (b) | 28,666 | 314,244 | ||||||
JD Group, Ltd. (b) | 12,559 | 32,359 | ||||||
Kumba Iron Ore, Ltd. (b) | 2,484 | 89,272 | ||||||
Lewis Group, Ltd. (b) | 15,098 | 83,257 | ||||||
Massmart Holdings, Ltd. (b) | 9,832 | 128,533 |
See accompanying notes to financial statements.
137
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
MMI Holdings, Ltd. | 55,888 | $ | 130,715 | |||||
MTN Group, Ltd. (b) | 87,557 | 1,794,361 | ||||||
Murray & Roberts Holdings, Ltd. (a) | 41,843 | 97,826 | ||||||
Naspers, Ltd. | 22,356 | 2,468,451 | ||||||
Nedbank Group, Ltd. (b) | 22,623 | 481,889 | ||||||
Netcare, Ltd. | 131,467 | 291,735 | ||||||
Northam Platinum, Ltd. (a) | 17,549 | 64,954 | ||||||
PPC, Ltd. | 12,801 | 35,587 | ||||||
PSG Group, Ltd. | 26,050 | 229,841 | ||||||
Remgro, Ltd. | 26,971 | 525,527 | ||||||
RMB Holdings, Ltd. | 56,518 | 257,713 | ||||||
RMI Holdings | 69,340 | 189,866 | ||||||
Sanlam, Ltd. (b) | 127,515 | 697,593 | ||||||
Sappi, Ltd. (a) | 17,750 | 62,441 | ||||||
Sasol, Ltd. | 24,179 | 1,355,329 | ||||||
Shoprite Holdings, Ltd. | 31,948 | 483,568 | ||||||
Sibanye Gold, Ltd. | 39,401 | 85,336 | ||||||
Standard Bank Group, Ltd. (b) | 57,259 | 755,621 | ||||||
Steinhoff International Holdings, Ltd. (b) | 112,958 | 547,720 | ||||||
Sun International, Ltd. | 10,390 | 93,262 | ||||||
Telkom SA, Ltd. (a) | 16,820 | 53,812 | ||||||
The Foschini Group, Ltd. (b) | 19,692 | 200,610 | ||||||
Tiger Brands, Ltd. (b) | 12,280 | 317,884 | ||||||
Times Media Group, Ltd. (a) | 413 | 844 | ||||||
Trans Hex Group, Ltd. (a) | 1,643 | 617 | ||||||
Truworths International, Ltd. (b) | 39,003 | 286,462 | ||||||
Wilson Bayly Holmes-Ovcon, Ltd. | 14,463 | 189,487 | ||||||
Woolworths Holdings, Ltd. | 64,074 | 447,024 | ||||||
17,932,474 | ||||||||
TAIWAN — 14.3% | ||||||||
Acer, Inc. (a) | 158,758 | 93,579 | ||||||
Adlink Technology, Inc. | 27,000 | 52,488 | ||||||
Advanced Semiconductor Engineering, Inc. | 433,007 | 480,605 | ||||||
Advancetek Enterprise Co. Ltd. | 152,000 | 176,445 | ||||||
AGV Products Corp. (a) | 311,000 | 102,126 | ||||||
APCB, Inc. | 60,000 | 42,755 | ||||||
Asustek Computer, Inc. | 34,340 | 339,989 | ||||||
AU Optronics Corp. ADR (a)(b) | 69,187 | 240,771 | ||||||
Audix Corp. | 65,000 | 63,394 | ||||||
Bank of Kaohsiung | 88,782 | 27,988 | ||||||
Basso Industry Corp. | 181,000 | 226,454 | ||||||
Biostar Microtech International Corp. | 121,000 | 49,667 | ||||||
C Sun Manufacturing Ltd. | 58,000 | 51,520 | ||||||
Carnival Industrial Corp. | 123,000 | 34,211 | ||||||
Catcher Technology Co., Ltd. | 36,000 | 260,668 | ||||||
Cathay Financial Holding Co., Ltd. | 297,135 | 433,225 | ||||||
Cathay No. 1 REIT | 82,000 | 48,415 | ||||||
Center Laboratories, Inc. (a) | 30,352 | 70,766 | ||||||
Champion Building Materials Co. Ltd. (a) | 85,000 | 34,053 | ||||||
Chang Hwa Commercial Bank | 428,452 | 253,955 | ||||||
Chang Wah Electromaterials, Inc. | 8,257 | 22,668 | ||||||
Charoen Pokphand Enterprise | 248,000 | 166,949 | ||||||
Cheng Loong Corp. | 36,000 | 16,491 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 21,850 | 62,352 | ||||||
China Airlines Ltd. (a) | 118,000 | 38,943 | ||||||
China Chemical & Pharmaceutical Co., Ltd. | 94,000 | 72,848 | ||||||
China Development Financial Holding Corp. | 746,945 | 213,641 | ||||||
China Steel Chemical Corp. | 241,345 | 1,379,001 | ||||||
China Steel Corp. | 473,090 | 398,481 | ||||||
Chinatrust Financial Holding Co., Ltd. | 703,091 | 439,829 | ||||||
Chipbond Technology Corp. | 19,000 | 33,567 | ||||||
Chong Hong Construction Co., Ltd. | 7,000 | 21,240 | ||||||
Chung Hwa Pulp Corp. (a) | 135,000 | 39,411 | ||||||
Chunghwa Chemical Synthesis & Biotech Co. Ltd. | 37,000 | 60,690 | ||||||
Chunghwa Telecom Co., Ltd. | 154,457 | 475,252 | ||||||
CMC Magnetics Corp. (a) | 189,000 | 29,729 | ||||||
Compal Electronics, Inc. | 311,774 | 221,142 | ||||||
Coxon Precise Industrial Co. Ltd. | 10,000 | 17,733 | ||||||
Da-Li Construction Co. Ltd. (a) | 65,257 | 77,145 | ||||||
Delta Electronics, Inc. | 123,340 | 761,446 | ||||||
Dimerco Express Taiwan Corp. | 166,000 | 107,387 | ||||||
Eclat Textile Co., Ltd. | 8,160 | 94,321 | ||||||
Elan Microelectronics Corp. | 2,000 | 3,849 | ||||||
Elite Semiconductor Memory Technology, Inc. (a) | 98,750 | 162,786 | ||||||
Epistar Corp. (a) | 34,850 | 83,656 | ||||||
Etron Technology, Inc. (a) | 12,445 | 6,089 | ||||||
Eva Airways Corp. (a) | 68,000 | 34,165 | ||||||
Excelsior Medical Co., Ltd. | 24,000 | 47,602 | ||||||
Far Eastern New Century Corp. | 323,333 | 343,480 | ||||||
Flytech Technology Co. Ltd. | 7,670 | 31,483 | ||||||
Formosa Chemicals & Fibre Corp. | 164,243 | 396,955 | ||||||
Formosa Epitaxy, Inc. (a) | 12,000 | 7,507 | ||||||
Formosa Plastics Corp. | 256,714 | 642,365 | ||||||
Founding Construction & Development Co. Ltd. | 225,650 | 143,382 | ||||||
Foxconn Technology Co., Ltd. | 72,903 | 171,889 | ||||||
Fubon Financial Holding Co., Ltd. | 393,903 | 534,215 | ||||||
Fullerton Technology Co. Ltd. | 30,000 | 27,485 | ||||||
Fwusow Industry Co. Ltd. | 117,300 | 59,704 | ||||||
Giant Manufacturing Co., Ltd. | 110,802 | 753,173 | ||||||
Grape King, Inc. | 100,000 | 431,820 | ||||||
Great Wall Enterprise Co. | 23,000 | 22,734 | ||||||
HannStar Display Corp. (a) | 76,000 | 28,576 | ||||||
Hermes Microvision, Inc. | 2,000 | 80,125 | ||||||
Himax Technologies, Inc. ADR (b) | 3,100 | 35,712 | ||||||
Hiwin Technologies Corp. | 8,652 | 83,814 | ||||||
Hocheng Corp. (a) | 177,000 | 61,320 | ||||||
Hon Hai Precision Industry Co., Ltd. | 484,610 | 1,373,347 | ||||||
Hong TAI Electric Industrial | 113,000 | 37,664 | ||||||
Hotai Motor Co., Ltd. | 41,000 | 495,460 | ||||||
HTC Corp. | 55,198 | 277,327 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 430,536 | 243,880 | ||||||
Hung Sheng Construction Co. Ltd. | 65,000 | 49,520 | ||||||
Ibase Technology, Inc. | 100,191 | 221,093 | ||||||
Innolux Corp. (a) | 224,383 | 76,999 | ||||||
Inotera Memories, Inc. (a) | 22,000 | 17,230 | ||||||
Janfusun Fancyworld Corp. (a) | 357,112 | 60,393 | ||||||
KEE TAI Properties Co., Ltd. | 63,000 | 44,272 | ||||||
Kenda Rubber Industrial Co., Ltd. | 4,160 | 9,918 | ||||||
Kerry TJ Logistics Co., Ltd. | 54,000 | 73,501 |
See accompanying notes to financial statements.
138
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Kindom Construction Co. | 42,000 | $ | 43,583 | |||||
Kung Long Batteries Industrial Co. Ltd. | 9,000 | 30,293 | ||||||
Kuoyang Construction Co., Ltd. | 43,225 | 23,775 | ||||||
Kwong Fong Industries | 32,000 | 21,857 | ||||||
Largan Precision Co., Ltd. | 3,000 | 141,860 | ||||||
Leofoo Development Co. (a) | 115,000 | 44,561 | ||||||
Lite-On Technology Corp. | 162,516 | 242,286 | ||||||
Long Bon International Co., Ltd. | 11,000 | 6,719 | ||||||
Long Chen Paper Co. Ltd. | 904,383 | 426,168 | ||||||
MediaTek, Inc. | 45,329 | 669,087 | ||||||
Medigen Biotechnology Corp. (a) | 5,248 | 44,204 | ||||||
Mega Financial Holding Co., Ltd. | 330,921 | 256,456 | ||||||
Merida Industry Co., Ltd. | 2,000 | 13,267 | ||||||
Merry Electronics Co. Ltd. | 12,720 | 69,547 | ||||||
Mosel Vitelic, Inc. (a) | 3,758 | 782 | ||||||
Namchow Chemical Industrial Ltd. | 53,000 | 109,298 | ||||||
Nan Ya Plastics Corp. | 250,486 | 530,543 | ||||||
Nanya Technology Corp. (a) | 38,000 | 5,054 | ||||||
National Petroleum Co., Ltd. | 345,000 | 312,684 | ||||||
Neo Solar Power Corp. (a) | 14,870 | 17,701 | ||||||
New Era Electronics Co. Ltd. | 24,000 | 33,219 | ||||||
Newmax Technology Co., Ltd. (a) | 25,185 | 62,854 | ||||||
Nexcom International Co. Ltd. | 66,736 | 55,554 | ||||||
Novatek Microelectronics Corp. | 31,225 | 143,039 | ||||||
Pacific Hospital Supply Co. Ltd. | 21,000 | 55,995 | ||||||
Pan Jit International, Inc. (a) | 9,000 | 4,315 | ||||||
Pegatron Corp. | 55,686 | 82,928 | ||||||
Phytohealth Corp. (a) | 9,000 | 12,206 | ||||||
Pihsiang Machinery Manufacturing Co. Ltd. (a) | 24,000 | 26,008 | ||||||
Portwell, Inc. | 25,000 | 27,091 | ||||||
Pou Chen Corp. | 225,531 | 318,087 | ||||||
Powertech Technology, Inc. | 67,285 | 101,748 | ||||||
Precision Silicon Corp. (a) | 909 | 534 | ||||||
Promate Electronic Co., Ltd. | 57,000 | 67,196 | ||||||
ProMOS Technologies, Inc. (a)(f) | 130,950 | 0 | ||||||
Quanta Computer, Inc. | 216,664 | 583,415 | ||||||
Sampo Corp. | 208,000 | 86,403 | ||||||
Sesoda Corp. | 73,500 | 78,200 | ||||||
Shih Wei Navigation Co., Ltd. | 103,402 | 69,948 | ||||||
Shin Kong Financial Holding Co., Ltd. | 247,792 | 78,278 | ||||||
Siliconware Precision Industries Co. | 157,578 | 209,569 | ||||||
Sinbon Electronics Co., Ltd. | 71,000 | 107,715 | ||||||
Sinon Corp. | 114,000 | 63,266 | ||||||
SinoPac Financial Holdings Co., Ltd. | 571,223 | 274,802 | ||||||
Sinphar Pharmaceutical Co., Ltd. | 73,000 | 119,859 | ||||||
Solar Applied Materials Technology Corp. | 162,250 | 143,322 | ||||||
Solartech Energy Corp. (a) | 10,041 | 7,633 | ||||||
Stark Technology, Inc. | 53,000 | 55,606 | ||||||
Supreme Electronics Co. Ltd. | 131,864 | 82,922 | ||||||
Ta Ya Electric Wire & Cable | 363,000 | 85,349 | ||||||
Tainan Enterprises Co., Ltd. | 40,000 | 44,463 | ||||||
Taishin Financial Holdings Co., Ltd. | 547,142 | 247,945 | ||||||
Taisun Enterprise Co., Ltd. (a) | 147,000 | 71,442 | ||||||
Taiwan Acceptance Corp. | 9,000 | 23,643 | ||||||
Taiwan Cement Corp. | 276,533 | 426,797 | ||||||
Taiwan Chinsan Electronic Industrial Co. Ltd. | 28,000 | 56,455 | ||||||
Taiwan Cogeneration Corp. | 42,000 | 26,136 | ||||||
Taiwan Fire & Marine Insurance Co. | 23,000 | 18,202 | ||||||
Taiwan FU Hsing Industrial Co., Ltd. | 33,000 | 34,027 | ||||||
Taiwan Land Development Corp. (a) | 159,816 | 59,828 | ||||||
Taiwan Mobile Co., Ltd. | 4,000 | 12,531 | ||||||
Taiwan Paiho Ltd. | 51,000 | 61,379 | ||||||
Taiwan Pulp & Paper Corp. (a) | 288,000 | 118,217 | ||||||
Taiwan Sakura Corp. | 94,000 | 72,385 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 803,000 | 3,124,719 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 39,403 | 788,848 | ||||||
Taiwan Tea Corp. (a) | 98,913 | 80,553 | ||||||
Taiwan Union Technology Corp. | 121,000 | 111,653 | ||||||
Taiyen Biotech Co., Ltd. | 46,500 | 42,755 | ||||||
Tatung Co., Ltd. (a) | 160,885 | 50,137 | ||||||
TPK Holding Co. Ltd. | 8,000 | 47,418 | ||||||
Transasia Airways Corp. | 239,000 | 95,749 | ||||||
Tripod Technology Corp. | 67,320 | 132,418 | ||||||
Uni-President Enterprises Corp. | 106,052 | 184,575 | ||||||
United Microelectronics Corp. ADR (b) | 234,480 | 487,718 | ||||||
Unity Opto Technology Co., Ltd. (a) | 12,759 | 15,377 | ||||||
Ve Wong Corp. | 55,000 | 42,985 | ||||||
Visual Photonics Epitaxy Co., Ltd. | 145,259 | 139,523 | ||||||
Wei Chuan Food Corp. | 30,000 | 45,218 | ||||||
Wei Mon Industry Co. Ltd. (a) | 211,450 | 70,478 | ||||||
Weikeng Industrial Co., Ltd. | 61,000 | 49,777 | ||||||
Winbond Electronics Corp. (a) | 44,000 | 11,501 | ||||||
Wistron Corp. | 140,022 | 115,181 | ||||||
Zeng Hsing Industrial Co. Ltd. | 23,350 | 124,983 | ||||||
Zenitron Corp. | 131,000 | 78,723 | ||||||
28,168,355 | ||||||||
THAILAND — 3.0% | ||||||||
Advanced Info Service PCL | 98,415 | 685,629 | ||||||
Airports of Thailand PCL | 16,000 | 95,684 | ||||||
Bangkok Dusit Medical Services PCL | 4,500 | 18,449 | ||||||
Bangkok Expressway PCL | 323,459 | 329,043 | ||||||
Bangkokland PCL | 635,600 | 30,173 | ||||||
Banpu PCL | 128,280 | 110,723 | ||||||
BEC World PCL | 24,600 | 41,329 | ||||||
Big C Supercenter PCL | 3,600 | 20,364 | ||||||
BTS Group Holdings PCL | 29,500 | 7,639 | ||||||
Central Pattana PCL | 47,300 | 68,530 | ||||||
Central Plaza Hotel PCL | 35,100 | 32,730 | ||||||
CH Karnchang PCL | 5,900 | 2,965 | ||||||
Charoen Pokphand Foods PCL | 17,700 | 15,277 | ||||||
CP ALL PCL | 163,900 | 219,780 | ||||||
Electricity Generating PCL | 73,674 | 297,512 | ||||||
IRPC PCL | 825,958 | 87,586 | ||||||
Jasmine International PCL | 158,800 | 38,672 | ||||||
Kasikornbank PCL (c) | 51,900 | 295,977 | ||||||
Kasikornbank PCL (c) | 1,200 | 6,585 | ||||||
Krung Thai Bank PCL | 40,800 | 23,519 | ||||||
Land and Houses PCL | 63,000 | 18,644 | ||||||
Minor International PCL | 7,000 | 5,351 | ||||||
Pruksa Real Estate PCL | 24,100 | 15,081 |
See accompanying notes to financial statements.
139
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
PTT Exploration & Production PCL | 117,041 | $ | 566,444 | |||||
PTT Global Chemical PCL | 20,200 | 44,989 | ||||||
PTT PCL | 68,224 | 620,409 | ||||||
Quality Houses PCL | 190,700 | 17,753 | ||||||
Sansiri PCL | 162,700 | 9,479 | ||||||
Siam Cement PCL (c) | 30,800 | 394,969 | ||||||
Siam Cement PCL (c) | 5,500 | 70,869 | ||||||
Siam Commercial Bank PCL | 106,002 | 514,652 | ||||||
Siam Future Development PCL | 134,943 | 23,087 | ||||||
Tesco Lotus Retail Growth Freehold & Leasehold Property Fund | 79,966 | 31,553 | ||||||
Thai Airways International PCL (a) | 56,900 | 24,556 | ||||||
Thai Beverage PCL (b) | 365,000 | 175,599 | ||||||
Thai Oil PCL | 102,095 | 166,801 | ||||||
Thaicom PCL | 36,400 | 46,285 | ||||||
Ticon Industrial Connection PCL | 92,400 | 48,991 | ||||||
Tisco Financial Group PCL | 153,118 | 192,342 | ||||||
TMB Bank PCL | 4,130,917 | 313,257 | ||||||
Total Access Communication PCL, NVDR | 7,200 | 25,857 | ||||||
Toyo-Thai Corp. PCL | 6,600 | 7,579 | ||||||
True Corp. PCL, NVDR (a) | 244,500 | 52,005 | ||||||
5,814,718 | ||||||||
TURKEY — 1.8% | ||||||||
Akbank TAS | 93,512 | 297,252 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 20,104 | 223,670 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret AS | 2,783 | 11,201 | ||||||
BIM Birlesik Magazalar AS | 3,656 | 82,376 | ||||||
Coca-Cola Icecek AS | 420 | 10,111 | ||||||
Dogan Sirketler Grubu Holdings AS (a) | 135,319 | 42,382 | ||||||
Dogan Yayin Holding AS (a) | 112,051 | 26,190 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 138,274 | 178,401 | ||||||
Haci Omer Sabanci Holding AS | 49,881 | 193,536 | ||||||
KOC Holding AS | 74,861 | 315,654 | ||||||
Migros Ticaret AS (a) | 781 | 6,389 | ||||||
Tupras-Turkiye Petrol Rafinerileri AS | 11,333 | 239,989 | ||||||
Turk Hava Yollari Anonim Ortakligi | 24,550 | 75,629 | ||||||
Turkcell Iletisim Hizmetleri AS (a) | 42,987 | 240,134 | ||||||
Turkiye Garanti Bankasi AS | 200,724 | 686,846 | ||||||
Turkiye Halk Bankasi AS | 9,569 | 59,270 | ||||||
Turkiye Is Bankasi (Class C) | 116,805 | 259,360 | ||||||
Turkiye Vakiflar Bankasi Tao (Class D) | 16,327 | 30,835 | ||||||
Ulker Biskuvi Sanayi AS | 47,483 | 334,059 | ||||||
Yapi ve Kredi Bankasi AS | 75,143 | 142,614 | ||||||
3,455,898 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $212,463,045) | 194,466,483 | |||||||
PREFERRED STOCKS — 0.1% | ||||||||
COLOMBIA — 0.1% | ||||||||
Grupo Argos SA/Colombia Preference Shares | 10,710 | 112,084 | ||||||
INDIA — 0.0% (g) | ||||||||
Zee Entertainment Enterprises, Ltd. | 516,474 | 6,140 | ||||||
TOTAL PREFERRED STOCKS — | ||||||||
(Cost $119,686) | 118,224 | |||||||
RIGHTS — 0.0% (g) | ||||||||
EGYPT — 0.0% (g) | ||||||||
Egyptian Kuwait Holding Co. (expiring 4/28/14) (a) | 6,048 | 1,572 | ||||||
INDIA — 0.0% (g) | ||||||||
Tata Power Co., Ltd. (expired 03/19/14) (a) | 17,681 | 7,446 | ||||||
TOTAL RIGHTS — | ||||||||
(Cost $0) | 9,018 | |||||||
WARRANTS — 0.0% (g) | ||||||||
MALAYSIA — 0.0% (g) | ||||||||
KNM Group Bhd (expiring 11/15/17) (a) | 63,006 | 4,631 | ||||||
KPJ Healthcare Bhd (expiring 01/23/19) (a) | 2,080 | 395 | ||||||
Malaysian Resources Corp. Bhd (expiring 09/16/18) (a) | 123,400 | 8,691 | ||||||
13,717 | ||||||||
THAILAND — 0.0% (g) | ||||||||
BTS Group Holdings PCL (expiring 11/01/18) (a) | 11,167 | 303 | ||||||
TOTAL WARRANTS — | ||||||||
(Cost $9,950) | 14,020 | |||||||
SHORT TERM INVESTMENTS — 10.8% | ||||||||
UNITED STATES — 10.8% | ||||||||
MONEY MARKET FUNDS — 10.8% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (h)(i) | 20,288,884 | 20,288,884 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (i)(j)(k) | 928,175 | 928,175 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $21,217,059) | 21,217,059 | |||||||
TOTAL INVESTMENTS — 109.6% | ||||||||
(Cost $233,809,740) | 215,824,804 | |||||||
OTHER ASSETS & LIABILITIES — (9.6)% | (18,920,271 | ) | ||||||
NET ASSETS — 100.0% | $ | 196,904,533 | ||||||
See accompanying notes to financial statements.
140
SPDR S&P Emerging Markets ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(d) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs (Note 2). | |||||
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.8% of net assets as of March 31, 2014, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(f) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 3 inputs (Note 2). | |||||
(g) | Amount shown represents less than 0.05% of net assets. | |||||
(h) | Investments of cash collateral for securities loaned | |||||
(i) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(j) | The rate shown is the annualized seven-day yield at period end. | |||||
(k) | Security, or a portion thereof, is designated on the Fund’s books or pledged as collateral for futures contracts. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
At March 31, 2014, open futures contracts purchased were as follows:
Expiration | Unrealized | |||||||||||||||||||
Futures | Date | Contracts | Value | Appreciation | ||||||||||||||||
MSCI Taiwan Index Futures | 4/29/2014 | 35 | $ | 1,093,050 | $ | 24,918 |
See accompanying notes to financial statements.
141
SPDR S&P Emerging Markets Dividend ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
BRAZIL — 12.1% | ||||||||
AES Tiete SA Preference Shares | 418,072 | $ | 3,342,353 | |||||
Banco do Brasil SA | 67,638 | 683,424 | ||||||
Banco do Brasil SA ADR (a) | 955,145 | 9,503,693 | ||||||
Banco do Estado do Rio Grande do Sul SA Preference Shares | 922,722 | 5,364,996 | ||||||
Companhia Energetica de Minas Gerais ADR (a) | 1,888,463 | 12,841,548 | ||||||
CPFL Energia SA ADR (a) | 230,411 | 3,762,612 | ||||||
Mahle-Metal Leve SA | 114,894 | 1,211,822 | ||||||
Oi SA ADR (a) | 2,955,515 | 3,930,835 | ||||||
Santos Brasil Participacoes SA | 256,544 | 1,904,326 | ||||||
Tractebel Energia SA | 15,723 | 244,572 | ||||||
Tractebel Energia SA ADR (a) | 336,515 | 5,232,808 | ||||||
Transmissora Alianca de Energia Electrica SA | 379,282 | 3,235,621 | ||||||
Vale SA Preference Shares ADR | 473,070 | 5,889,722 | ||||||
57,148,332 | ||||||||
CHILE — 1.4% | ||||||||
Aguas Andinas SA Class A | 2,410,281 | 1,504,620 | ||||||
Banco de Chile ADR | 12,603 | 948,754 | ||||||
CAP SA | 100,979 | 1,629,995 | ||||||
ENTEL Chile SA | 211,678 | 2,581,692 | ||||||
6,665,061 | ||||||||
CHINA — 11.2% | ||||||||
Bank of China, Ltd. | 15,628,536 | 6,930,749 | ||||||
China Citic Bank Corp., Ltd. (a) | 9,829,000 | 5,663,961 | ||||||
China Hongqiao Group, Ltd. (a) | 1,618,289 | 1,022,246 | ||||||
China Shanshui Cement Group, Ltd. | 15,361,000 | 6,475,461 | ||||||
Giant Interactive Group, Inc. ADR | 727,251 | 8,414,294 | ||||||
Guangzhou R&F Properties Co., Ltd. (Class H) (a) | 3,213,911 | 4,632,112 | ||||||
Jiangsu Expressway Co., Ltd. (a) | 2,672,000 | 3,045,034 | ||||||
Soho China, Ltd. (a) | 4,372,500 | 3,596,283 | ||||||
Yanzhou Coal Mining Co., Ltd. (a) | 9,326,000 | 7,057,273 | ||||||
Zhejiang Expressway Co., Ltd. (Class H) | 2,038,000 | 1,857,492 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (a) | 20,546,000 | 4,370,334 | ||||||
53,065,239 | ||||||||
COLOMBIA — 2.4% | ||||||||
Ecopetrol SA, ADR (a) | 280,519 | 11,442,370 | ||||||
CZECH REPUBLIC — 3.7% | ||||||||
CEZ AS | 363,236 | 10,420,642 | ||||||
Komercni Banka AS | 30,572 | 7,311,395 | ||||||
17,732,037 | ||||||||
HONG KONG — 3.4% | ||||||||
Bosideng International Holdings, Ltd. (a) | 17,435,600 | 2,629,821 | ||||||
Citic Pacific, Ltd. (a) | 4,077,000 | 7,232,069 | ||||||
Poly Hong Kong Investments, Ltd. (a) | 6,185,000 | 2,734,873 | ||||||
Shenzhen Investment, Ltd. (a) | 4,905,175 | 1,587,200 | ||||||
Shougang Fushan Resources Group, Ltd. (a) | 5,810,000 | 1,767,631 | ||||||
15,951,594 | ||||||||
INDIA — 0.9% | ||||||||
NMDC, Ltd. | 1,781,448 | 4,153,655 | ||||||
INDONESIA — 0.7% | ||||||||
Indo Tambangraya Megah Tbk PT | 835,900 | 1,791,740 | ||||||
Tambang Batubara Bukit Asam Persero Tbk PT | 1,832,200 | 1,503,984 | ||||||
3,295,724 | ||||||||
MALAYSIA — 4.0% | ||||||||
British American Tobacco Malaysia Bhd | 78,600 | 1,423,008 | ||||||
Malayan Banking Bhd | 2,996,683 | 8,883,139 | ||||||
Malaysia Building Society Bhd | 1,455,600 | 971,737 | ||||||
Maxis Bhd | 3,479,600 | 7,416,327 | ||||||
18,694,211 | ||||||||
MEXICO — 2.2% | ||||||||
Grupo Financiero Santander Mexico SAB de CV ADR (Class B) (a) | 853,449 | 10,488,888 | ||||||
NETHERLANDS — 1.4% | ||||||||
VimpelCom, Ltd. ADR | 721,327 | 6,513,583 | ||||||
POLAND — 8.8% | ||||||||
Bank Handlowy w Warszawie SA | 36,580 | 1,374,141 | ||||||
Bank Pekao SA | 110,958 | 7,219,945 | ||||||
KGHM Polska Miedz SA | 301,241 | 10,857,598 | ||||||
Polska Grupa Energetyczna SA | 1,409,477 | 8,816,812 | ||||||
Powszechny Zaklad Ubezpieczen SA | 62,644 | 8,905,010 | ||||||
Synthos SA | 829,963 | 1,340,511 | ||||||
Tauron Polska Energia SA | 1,696,743 | 2,948,269 | ||||||
41,462,286 | ||||||||
RUSSIA — 4.6% | ||||||||
CTC Media, Inc. (a) | 284,127 | 2,616,810 | ||||||
E.ON Russia JSC | 12,470,547 | 862,014 | ||||||
Gazprom Neft JSC ADR (b) | 49,649 | 1,024,259 | ||||||
Gazprom Neft JSC ADR (b) | 21,382 | 440,469 | ||||||
MegaFon OAO GDR | 260,509 | 7,333,328 | ||||||
Moscow United Electric Grid Co. JSC | 40,117,828 | 1,177,579 | ||||||
Phosagro OAO GDR | 220,735 | 2,461,195 | ||||||
Polymetal International PLC (a) | 547,735 | 5,666,136 | ||||||
21,581,790 | ||||||||
SOUTH AFRICA — 8.2% | ||||||||
Capital Property Fund | 1,453,060 | 1,447,824 | ||||||
Hyprop Investments, Ltd. (a) | 354,286 | 2,585,255 | ||||||
Kumba Iron Ore, Ltd. (a) | 246,493 | 8,858,646 | ||||||
MMI Holdings, Ltd. | 1,429,401 | 3,343,183 | ||||||
Redefine Properties, Ltd. | 3,130,393 | 2,842,322 | ||||||
Resilient Property Income Fund, Ltd. | 122,335 | 661,113 | ||||||
Reunert, Ltd. | 219,311 | 1,344,903 | ||||||
The Foschini Group, Ltd. (a) | 893,575 | 9,103,201 | ||||||
Vodacom Group, Ltd. (a) | 678,231 | 8,382,210 | ||||||
38,568,657 | ||||||||
SOUTH KOREA — 2.3% | ||||||||
KT Corp. ADR (a)(c) | 304,635 | 4,231,380 | ||||||
Macquarie Korea Infrastructure Fund (a) | 195,049 | 1,185,558 | ||||||
SK Telecom Co., Ltd. | 26,322 | 5,328,941 | ||||||
10,745,879 | ||||||||
See accompanying notes to financial statements.
142
SPDR S&P Emerging Markets Dividend ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
TAIWAN — 18.0% | ||||||||
Asustek Computer, Inc. | 1,043,000 | $ | 10,326,393 | |||||
Chicony Electronics Co., Ltd. | 1,068,990 | 2,773,178 | ||||||
China Steel Chemical Corp. | 378,000 | 2,159,823 | ||||||
Chunghwa Telecom Co., Ltd. ADR (a) | 158,209 | 4,853,852 | ||||||
CTCI Corp. | 859,000 | 1,287,689 | ||||||
Far Eastern New Century Corp. | 2,830,726 | 3,007,109 | ||||||
Farglory Land Development Co., Ltd. | 610,635 | 1,040,701 | ||||||
Highwealth Construction Corp. | 990,800 | 2,336,079 | ||||||
Lite-On Technology Corp. | 3,096,778 | 4,616,820 | ||||||
Quanta Computer, Inc. | 3,362,000 | 9,052,918 | ||||||
Radiant Opto-Electronics Corp. | 1,487,300 | 6,007,320 | ||||||
Ruentex Development Co., Ltd. | 3,044,000 | 5,567,714 | ||||||
Synnex Technology International Corp. | 3,454,000 | 5,557,705 | ||||||
Taiwan Mobile Co., Ltd. | 2,497,200 | 7,823,098 | ||||||
TPK Holding Co. Ltd. | 2,395,000 | 14,195,797 | ||||||
TSRC Corp. | 875,800 | 1,308,559 | ||||||
WPG Holdings, Ltd. | 2,534,000 | 3,058,025 | ||||||
84,972,780 | ||||||||
THAILAND — 6.5% | ||||||||
Advanced Info Service PCL | 30 | 209 | ||||||
Advanced Info Service PCL, NVDR | 1,193,049 | 8,311,624 | ||||||
Delta Electronics Thai PCL, NVDR | 1,057,300 | 1,922,956 | ||||||
Land and Houses PCL, NVDR | 17,006,845 | 5,032,852 | ||||||
Shin Corp. PCL, NVDR | 3,844,757 | 9,155,594 | ||||||
Thai Oil PCL | 2,054,800 | 3,357,102 | ||||||
Thai Oil PCL, ADR, NVDR | 786,400 | 1,284,809 | ||||||
Tisco Financial Group PCL, NVDR | 1,372,300 | 1,723,836 | ||||||
30,788,982 | ||||||||
TURKEY — 7.7% | ||||||||
Arcelik AS | 1,023,883 | 5,719,616 | ||||||
Aygaz AS | 343,520 | 1,350,506 | ||||||
Tekfen Holding AS | 2,530,132 | 5,771,804 | ||||||
Tofas Turk Otomobil Fabrikasi AS | 695,063 | 3,947,745 | ||||||
Tupras-Turkiye Petrol Rafinerileri AS | 598,138 | 12,666,254 | ||||||
Turk Telekomunikasyon AS | 2,020,773 | 5,620,606 | ||||||
Turk Traktor ve Ziraat Makineleri AS | 43,347 | 1,114,475 | ||||||
36,191,006 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $493,900,007) | 469,462,074 | |||||||
SHORT TERM INVESTMENTS — 18.4% | ||||||||
UNITED STATES — 18.4% | ||||||||
MONEY MARKET FUNDS — 18.4% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 86,205,053 | 86,205,053 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 451,324 | 451,324 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $86,656,377) | 86,656,377 | |||||||
TOTAL INVESTMENTS — 117.9% | ||||||||
(Cost $580,556,384) | 556,118,451 | |||||||
OTHER ASSETS & LIABILITIES — (17.9)% | (84,363,041 | ) | ||||||
NET ASSETS — 100.0% | $ | 471,755,410 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(c) | Non-income producing security | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
See accompanying notes to financial statements.
143
SPDR S&P BRIC 40 ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.7% | ||||||||
BRAZIL — 18.3% | ||||||||
AMBEV SA ADR | 823,127 | $ | 6,099,371 | |||||
Banco Bradesco SA Preference Shares ADR | 381,093 | 5,209,541 | ||||||
BRF SA ADR | 116,838 | 2,334,423 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 454,683 | 6,756,589 | ||||||
Petroleo Brasileiro SA ADR | 269,527 | 3,544,280 | ||||||
Ultrapar Participacoes SA ADR | 74,749 | 1,800,704 | ||||||
Vale SA ADR (a) | 235,824 | 3,261,446 | ||||||
29,006,354 | ||||||||
CHINA — 43.8% | ||||||||
Agricultural Bank of China, Ltd. | 4,350,000 | 1,895,437 | ||||||
Baidu, Inc. ADR (b) | 49,552 | 7,550,734 | ||||||
Bank of China, Ltd. | 12,453,254 | 5,522,614 | ||||||
China Construction Bank Corp. | 14,869,610 | 10,408,852 | ||||||
China Life Insurance Co., Ltd. | 1,351,000 | 3,822,903 | ||||||
China Merchants Bank Co., Ltd. (a) | 833,860 | 1,511,409 | ||||||
China Petroleum & Chemical Corp. | 4,617,174 | 4,130,847 | ||||||
China Shenhua Energy Co., Ltd. | 625,500 | 1,806,254 | ||||||
China Telecom Corp., Ltd. | 610 | 282 | ||||||
Hengan International Group Co., Ltd. | 140,500 | 1,455,344 | ||||||
Industrial & Commercial Bank of China | 14,828,960 | 9,118,691 | ||||||
PetroChina Co., Ltd. | 3,836,171 | 4,178,862 | ||||||
Ping An Insurance Group Co. of China, Ltd. | 343,500 | 2,847,352 | ||||||
Tencent Holdings, Ltd. | 188,300 | 13,096,196 | ||||||
Want Want China Holdings, Ltd. | 1,238,000 | 1,848,130 | ||||||
69,193,907 | ||||||||
HONG KONG — 9.4% | ||||||||
China Mobile, Ltd. | 946,500 | 8,663,281 | ||||||
China Overseas Land & Investment, Ltd. (a) | 692,560 | 1,794,555 | ||||||
CNOOC, Ltd. | 2,926,221 | 4,398,545 | ||||||
14,856,381 | ||||||||
INDIA — 7.5% | ||||||||
HDFC Bank, Ltd. ADR | 70,501 | 2,892,656 | ||||||
ICICI Bank, Ltd. ADR | 50,857 | 2,227,537 | ||||||
Infosys Technologies, Ltd. ADR (a) | 87,361 | 4,733,219 | ||||||
Reliance Industries, Ltd. GDR (c) | 62,860 | 1,948,660 | ||||||
11,802,072 | ||||||||
NETHERLANDS — 0.7% | ||||||||
Yandex NV (Class A) (b) | 37,745 | 1,139,522 | ||||||
RUSSIA — 20.0% | ||||||||
Gazprom OAO ADR | 1,075,125 | 8,278,463 | ||||||
Lukoil OAO ADR (d) | 92,545 | 5,141,800 | ||||||
Lukoil OAO ADR (d) | 1,675 | 93,674 | ||||||
Magnit OJSC GDR (a) | 52,360 | 2,869,328 | ||||||
MMC Norilsk Nickel OJSC ADR | 102,973 | 1,712,441 | ||||||
Mobile Telesystems OJSC ADR | 91,552 | 1,601,244 | ||||||
NovaTek OAO GDR | 14,187 | 1,560,570 | ||||||
Rosneft Oil Co. GDR | 192,816 | 1,283,962 | ||||||
Sberbank of Russia ADR (d) | 14,597 | 142,613 | ||||||
Sberbank of Russia ADR (d) | 475,833 | 4,625,097 | ||||||
Surgutneftegas OJSC ADR | 174,908 | 1,289,072 | ||||||
Tatneft OAO ADR | 44,189 | 1,513,915 | ||||||
Uralkali OJSC GDR | 61,969 | 1,470,524 | ||||||
31,582,703 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $192,436,005) | 157,580,939 | |||||||
SHORT TERM INVESTMENTS — 7.0% | ||||||||
UNITED STATES — 7.0% | ||||||||
MONEY MARKET FUNDS — 7.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 10,446,883 | 10,446,883 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 598,623 | 598,623 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $11,045,506) | 11,045,506 | |||||||
TOTAL INVESTMENTS — 106.7% | ||||||||
(Cost $203,481,511) | 168,626,445 | |||||||
OTHER ASSETS & LIABILITIES — (6.7)% | (10,648,131 | ) | ||||||
NET ASSETS — 100.0% | $ | 157,978,314 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 1.2% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
See accompanying notes to financial statements.
144
SPDR S&P Emerging Europe ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
CZECH REPUBLIC — 3.8% | ||||||||
CEZ AS | 52,324 | $ | 1,501,089 | |||||
Komercni Banka AS | 3,561 | 851,625 | ||||||
Telefonica O2 Czech Republic AS | 21,421 | 321,796 | ||||||
Unipetrol (a) | 35,090 | 254,666 | ||||||
2,929,176 | ||||||||
HUNGARY — 3.2% | ||||||||
Magyar Telekom Telecommunications PLC | 173,909 | 236,240 | ||||||
MOL Hungarian Oil and Gas NyRt | 10,806 | 607,991 | ||||||
OTP Bank NyRt | 45,135 | 864,437 | ||||||
Richter Gedeon NyRt | 46,259 | 806,742 | ||||||
2,515,410 | ||||||||
NETHERLANDS — 1.9% | ||||||||
VimpelCom, Ltd. ADR | 45,808 | 413,646 | ||||||
Yandex NV (a) | 33,919 | 1,024,015 | ||||||
1,437,661 | ||||||||
POLAND — 20.0% | ||||||||
Agora SA (a) | 44,305 | 164,234 | ||||||
Asseco Poland SA | 21,466 | 333,563 | ||||||
Bank Pekao SA | 27,389 | 1,782,179 | ||||||
Bank Zachodni WBK SA | 4,865 | 665,005 | ||||||
Echo Investment SA (a) | 131,279 | 260,264 | ||||||
Getin Holding SA | 81,280 | 87,430 | ||||||
Getin Noble Bank SA (a) | 237,864 | 251,137 | ||||||
Globe Trade Centre SA (a) | 52,859 | 126,138 | ||||||
ING Bank Slaski SA (a) | 20,581 | 902,556 | ||||||
KGHM Polska Miedz SA | 33,028 | 1,190,425 | ||||||
LPP SA | 106 | 311,818 | ||||||
Lubelski Wegiel Bogdanka SA | 9,769 | 405,775 | ||||||
Mbank | 5,026 | 896,609 | ||||||
Netia SA (a) | 393,264 | 663,814 | ||||||
Orange Polska SA | 305,040 | 1,044,934 | ||||||
Orbis SA | 6,540 | 94,591 | ||||||
Polska Grupa Energetyczna SA | 99,992 | 625,488 | ||||||
Polski Koncern Naftowy Orlen SA | 57,840 | 827,380 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 293,550 | 431,377 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 141,372 | 1,987,649 | ||||||
Powszechny Zaklad Ubezpieczen SA | 8,275 | 1,176,313 | ||||||
Rovese SA (a) | 239,627 | 124,516 | ||||||
Tauron Polska Energia SA | 389,832 | 677,374 | ||||||
TVN SA | 78,045 | 428,274 | ||||||
15,458,843 | ||||||||
RUSSIA — 51.4% | ||||||||
Etalon Group, Ltd. GDR (a) | 12,367 | 48,108 | ||||||
Eurasia Drilling Co., Ltd. GDR | 4,933 | 126,433 | ||||||
Evraz PLC (a) | 104,254 | 138,524 | ||||||
Federal Hydrogenerating Co. JSC ADR (b) | 144,826 | 221,729 | ||||||
Federal Hydrogenerating Co. JSC ADR (b) | 34,359 | 52,157 | ||||||
Gazprom OAO ADR | 1,150,590 | 8,859,543 | ||||||
Globaltrans Investment PLC GDR | 14,587 | 168,334 | ||||||
Integra Group Holdings GDR (a) | 2,623 | 44,591 | ||||||
LSR Group OJSC GDR (a) | 36,440 | 100,210 | ||||||
Lukoil OAO ADR | 102,312 | 5,684,455 | ||||||
Magnit OJSC | 1,000 | 229,447 | ||||||
Magnit OJSC GDR (c) | 43,388 | 2,377,662 | ||||||
Mail.ru Group, Ltd. GDR (a) | 8,003 | 283,706 | ||||||
Mechel OAO, ADR (a) | 26,298 | 54,437 | ||||||
MegaFon OAO GDR | 6,727 | 189,365 | ||||||
MMC Norilsk Nickel OJSC ADR | 176,812 | 2,940,384 | ||||||
Mobile Telesystems OJSC | 38,158 | 292,887 | ||||||
Mobile Telesystems OJSC ADR | 94,829 | 1,658,559 | ||||||
NovaTek OAO GDR | 23,358 | 2,569,380 | ||||||
Novolipetsk Steel OJSC GDR (c) | 8,383 | 105,961 | ||||||
O’Key Group SA GDR | 6,792 | 61,128 | ||||||
Pharmstandard GDR (a) | 9,088 | 79,066 | ||||||
Phosagro OAO GDR | 3,995 | 44,544 | ||||||
PIK Group GDR (a) | 65,200 | 146,700 | ||||||
Polymetal International PLC | 44,578 | 461,145 | ||||||
Rosneft Oil Co. GDR | 223,756 | 1,489,991 | ||||||
Rostelecom ADR | 38,865 | 553,826 | ||||||
Sberbank | 1,810,110 | 4,305,517 | ||||||
Sberbank of Russia ADR | 30,000 | 291,600 | ||||||
Severstal GDR | 65,119 | 492,951 | ||||||
Sistema JSFC GDR | 29,417 | 662,177 | ||||||
Surgutneftegas OJSC ADR | 210,041 | 1,548,002 | ||||||
Tatneft OAO ADR | 40,286 | 1,380,198 | ||||||
TMK OAO GDR | 8,223 | 71,951 | ||||||
Uralkali OJSC GDR | 53,352 | 1,266,043 | ||||||
VTB Bank OJSC GDR | 275,967 | 606,851 | ||||||
X5 Retail Group NV GDR (a) | 13,237 | 207,424 | ||||||
39,814,986 | ||||||||
TURKEY — 19.2% | ||||||||
Akbank TAS | 303,058 | 963,348 | ||||||
Anadolu Anonim Turk Sigorta (a) | 328,555 | 216,559 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 69,368 | 771,764 | ||||||
Arcelik AS | 144,107 | 805,011 | ||||||
Asya Katilim Bankasi AS (a) | 98,869 | 65,167 | ||||||
BIM Birlesik Magazalar AS | 34,571 | 778,946 | ||||||
Coca-Cola Icecek AS | 4,584 | 110,357 | ||||||
Dogan Sirketler Grubu Holdings AS (a) | 338,444 | 106,001 | ||||||
Dogan Yayin Holding AS (a) | 781,582 | 182,681 | ||||||
Dogus Otomotiv Servis ve Ticaret AS | 167,460 | 617,642 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS | 344,371 | 405,673 | ||||||
Enka Insaat ve Sanayi AS | 162,674 | 485,923 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 438,555 | 565,825 | ||||||
Haci Omer Sabanci Holding AS | 158,808 | 616,168 | ||||||
KOC Holding AS | 216,546 | 913,073 | ||||||
Koza Altin Isletmeleri AS | 2,107 | 18,271 | ||||||
Tupras-Turkiye Petrol Rafinerileri AS | 29,841 | 631,917 | ||||||
Turk Hava Yollari Anonim Ortakligi | 425,611 | 1,311,133 | ||||||
Turk Telekomunikasyon AS | 52,659 | 146,466 | ||||||
Turkcell Iletisim Hizmetleri AS (a) | 182,988 | 1,022,208 | ||||||
Turkiye Garanti Bankasi AS | 612,022 | 2,094,241 | ||||||
Turkiye Halk Bankasi AS | 80,276 | 497,222 | ||||||
Turkiye Is Bankasi (Class C) | 257,639 | 572,076 | ||||||
Turkiye Vakiflar Bankasi Tao (Class D) | 120,000 | 226,627 | ||||||
Ulker Biskuvi Sanayi AS | 8,408 | 59,153 | ||||||
Vestel Elektronik Sanayi (a) | 171,233 | 136,077 |
See accompanying notes to financial statements.
145
SPDR S&P Emerging Europe ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Yapi ve Kredi Bankasi AS | 285,543 | $ | 541,934 | |||||
14,861,463 | ||||||||
UNITED KINGDOM — 0.4% | ||||||||
Polyus Gold International, Ltd. | 89,744 | 305,966 | ||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $107,959,065) | 77,323,505 | |||||||
SHORT TERM INVESTMENTS — 2.5% | ||||||||
UNITED STATES — 2.5% | ||||||||
MONEY MARKET FUNDS — 2.5% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 1,769,049 | 1,769,049 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 159,644 | 159,644 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $1,928,693) | 1,928,693 | |||||||
TOTAL INVESTMENTS — 102.4% | ||||||||
(Cost $109,887,758) | 79,252,198 | |||||||
OTHER ASSETS & LIABILITIES — (2.4)% | (1,823,774 | ) | ||||||
NET ASSETS — 100.0% | $ | 77,428,424 | ||||||
(a) | Non-income producing security | |||||
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(c) | A portion of the security was on loan at March 31, 2014. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
146
SPDR S&P Emerging Latin America ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.7% | ||||||||
BERMUDA — 0.0% (a) | ||||||||
Cosan, Ltd. | 1,886 | $ | 21,673 | |||||
BRAZIL — 54.1% | ||||||||
AES Tiete SA Preference Shares | 18,746 | 149,868 | ||||||
All America Latina Logistica SA | 45,344 | 152,118 | ||||||
AMBEV SA ADR | 277,804 | 2,058,528 | ||||||
Anhanguera Educacional Participacoes SA | 14,800 | 91,824 | ||||||
B2W Cia Digital (b) | 7,882 | 96,722 | ||||||
Banco Bradesco SA Preference Shares ADR | 154,801 | 2,116,130 | ||||||
Banco do Brasil SA | 44,361 | 448,230 | ||||||
Banco do Brasil SA ADR | 16,975 | 168,901 | ||||||
Banco Santander Brazil SA ADS (c) | 47,278 | 263,338 | ||||||
BB Seguridade Participacoes SA | 29,319 | 326,258 | ||||||
Bematech SA | 13,165 | 48,716 | ||||||
BM&FBOVESPA SA | 151,292 | 754,281 | ||||||
BR Malls Participacoes SA | 24,247 | 210,395 | ||||||
BR Properties SA | 12,821 | 105,852 | ||||||
Bradespar SA Preference Shares | 26,082 | 227,473 | ||||||
Braskem SA Preference Shares ADR (b)(c) | 11,873 | 185,456 | ||||||
BRF — Brasil Foods SA | 15,636 | 313,898 | ||||||
BRF — Brasil Foods SA ADR | 29,387 | 587,152 | ||||||
CCR SA | 65,136 | 502,845 | ||||||
Centrais Eletricas Brasileiras SA | 3,577 | 10,462 | ||||||
Centrais Eletricas Brasileiras SA ADR (c) | 26,036 | 73,942 | ||||||
CETIP SA — Balcao Organizado de Ativos e Derivativos | 15,239 | 185,718 | ||||||
Cia Hering | 9,295 | 112,784 | ||||||
Cielo SA | 20,287 | 650,101 | ||||||
Companhia Brasileira de Distribuicao Grupo Pao de Acucar Preference Shares ADR | 11,330 | 495,801 | ||||||
Companhia de Saneamento Basico do Estado de Sao Paulo | 39,246 | 366,980 | ||||||
Companhia Energetica de Minas Gerais ADR (c) | 71,463 | 485,948 | ||||||
Companhia Energetica de Sao Paulo Preference Shares | 23,026 | 271,945 | ||||||
Companhia Paranaense de Energia Preference Shares | 12,600 | 166,455 | ||||||
Companhia Siderurgica Nacional SA ADR (c) | 64,106 | 279,502 | ||||||
Cosan SA Industria e Comercio | 14,926 | 233,233 | ||||||
CPFL Energia SA ADR (c) | 6,756 | 110,325 | ||||||
Cremer SA | 8,994 | 65,766 | ||||||
Cyrela Brazil Realty SA | 31,277 | 189,339 | ||||||
Cyrela Commercial Properties SA Empreendimentos e Participacoes | 24,373 | 195,502 | ||||||
Duratex SA | 55,779 | 285,507 | ||||||
Empresa Brasileira de Aeronautica SA | 44,575 | 399,822 | ||||||
Estacio Participacoes SA | 7,359 | 74,552 | ||||||
Fibria Celulose SA ADR (b)(c) | 22,167 | 245,167 | ||||||
Gafisa SA | 22,013 | 34,827 | ||||||
Gerdau SA ADR | 43,100 | 276,271 | ||||||
Gerdau SA Preference Shares | 8,384 | 53,949 | ||||||
Gol Linhas Aereas Inteligentes SA Preference Shares (b) | 14,288 | 69,271 | ||||||
Hypermarcas SA | 22,728 | 165,285 | ||||||
Investimentos Itau SA (d) | 47,660 | 211,212 | ||||||
Investimentos Itau SA (b)(d) | 3,713 | 15,221 | ||||||
Investimentos Itau SA Preference Shares | 241,840 | 991,367 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 179,589 | 2,668,693 | ||||||
JBS SA | 69,363 | 238,536 | ||||||
Kepler Weber SA | 5,397 | 88,256 | ||||||
Klabin SA | 38,570 | 198,961 | ||||||
Kroton Educacional SA | 13,939 | 308,246 | ||||||
Linx SA | 3,261 | 64,469 | ||||||
Lojas Americanas SA Preference Shares | 67,681 | 501,796 | ||||||
Lojas Renner SA | 14,004 | 398,554 | ||||||
M Dias Branco SA | 853 | 34,551 | ||||||
Metalurgica Gerdau SA Preference Shares | 37,438 | 288,852 | ||||||
MMX Mineracao e Metalicos SA (b) | 2,093 | 2,375 | ||||||
MRV Engenharia e Participacoes SA | 7,902 | 28,330 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 5,771 | 123,834 | ||||||
Natura Cosmeticos SA | 17,841 | 301,395 | ||||||
Oi SA | 361 | 517 | ||||||
Oi SA ADR (c)(d) | 10,609 | 15,383 | ||||||
Oi SA ADR (c)(d) | 69,048 | 91,834 | ||||||
Oi SA Preference Shares | 3,932 | 5,437 | ||||||
PDG Realty SA Empreendimentos e Participacoes (b) | 81,883 | 52,254 | ||||||
Petroleo Brasileiro SA ADR (c)(d) | 147,118 | 2,040,527 | ||||||
Petroleo Brasileiro SA ADR (d) | 81,253 | 1,068,477 | ||||||
Prumo Logistica SA (b) | 148,327 | 65,733 | ||||||
Qualicorp SA (b) | 7,276 | 74,001 | ||||||
Souza Cruz SA | 45,353 | 414,036 | ||||||
Telefonica Brasil SA Preference Shares | 26,292 | 559,630 | ||||||
Tim Participacoes SA | 15,913 | 83,567 | ||||||
Tim Participacoes SA ADR | 14,646 | 380,210 | ||||||
Totvs SA | 9,125 | 143,962 | ||||||
Tractebel Energia SA ADR | 2,379 | 36,993 | ||||||
Ultrapar Participacoes SA ADR | 30,731 | 740,310 | ||||||
Usinas Siderurgicas de Minas Gerais SA ADR (b) | 43,119 | 189,724 | ||||||
Usinas Siderurgicas de Minas Gerais SA Preference Shares (b) | 12,929 | 58,615 | ||||||
Vale SA ADR (c) | 72,245 | 999,148 | ||||||
Vale SA Preference Shares ADR | 152,417 | 1,897,592 | ||||||
Weg SA | 14,554 | 204,459 | ||||||
29,893,496 | ||||||||
CHILE — 9.6% | ||||||||
Almendral SA | 1,584,989 | 142,457 | ||||||
Antarchile SA | 24,516 | 324,957 | ||||||
Banco de Chile ADR | 3,783 | 284,784 | ||||||
Banco de Credito e Inversiones | 6,267 | 364,010 | ||||||
Banco Santander Chile ADR | 4,635 | 108,645 | ||||||
CAP SA | 9,892 | 159,676 | ||||||
Cencosud SA | 123,762 | 408,765 | ||||||
Compania General de Electricidad SA | 65,018 | 316,389 | ||||||
Empresa Nacional de Electricidad SA ADR | 10,846 | 468,330 |
See accompanying notes to financial statements.
147
SPDR S&P Emerging Latin America ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Empresas CMPC SA | 135,843 | $ | 311,033 | |||||
Empresas COPEC SA | 46,402 | 605,786 | ||||||
Enersis SA ADR | 34,368 | 533,735 | ||||||
Gasco SA | 3,343 | 35,206 | ||||||
Latam Airlines Group SA, ADR (c) | 26,364 | 396,778 | ||||||
SACI Falabella | 80,153 | 705,418 | ||||||
Sociedad Quimica y Minera de Chile SA ADR | 4,334 | 137,561 | ||||||
5,303,530 | ||||||||
COLOMBIA — 6.2% | ||||||||
Almacenes Exito SA | 15,272 | 230,275 | ||||||
Banco Davivienda SA Preference Shares | 8,783 | 113,692 | ||||||
Banco de Bogota SA | 4,828 | 171,595 | ||||||
BanColombia SA ADR (c) | 9,160 | 517,357 | ||||||
Bolsa de Valores de Colombia | 1,566,311 | 17,267 | ||||||
Celsia SA ESP | 16,025 | 47,951 | ||||||
Cementos Argos SA | 20,071 | 102,782 | ||||||
Corp Financiera Colombiana SA | 5,854 | 111,346 | ||||||
Ecopetrol SA, ADR (c) | 14,043 | 572,814 | ||||||
Empresa de Energia de Bogota SA | 132,892 | 108,695 | ||||||
Empresa de Telecomunicaciones de Bogota | 75,704 | 16,922 | ||||||
Grupo Argos SA | 22,498 | 236,364 | ||||||
Grupo Aval Acciones y Valores | 111,336 | 73,247 | ||||||
Grupo Aval Acciones y Valores Preference Shares | 327,855 | 217,360 | ||||||
Grupo de Inversiones Suramericana SA | 16,387 | 303,864 | ||||||
Grupo de Inversiones Suramericana SA Preference Shares | 5,265 | 98,431 | ||||||
Grupo Nutresa SA | 18,434 | 255,476 | ||||||
Grupo Odinsa SA | 2,266 | 9,325 | ||||||
Interconexion Electrica SA ESP | 23,397 | 104,480 | ||||||
Isagen SA ESP | 51,280 | 84,147 | ||||||
3,393,390 | ||||||||
LUXEMBOURG — 0.1% | ||||||||
Ternium SA ADR | 1,390 | 41,116 | ||||||
MEXICO — 26.3% | ||||||||
Alfa SAB de CV (Class A) | 257,904 | 652,629 | ||||||
Alsea SAB de CV | 6,704 | 24,404 | ||||||
America Movil SAB de CV | 3,117,202 | 3,091,223 | ||||||
Arca Continental SAB de CV (c) | 20,276 | 121,170 | ||||||
Banregio Grupo Financiero SAB de CV | 2,616 | 15,168 | ||||||
Bolsa Mexicana de Valores SAB de CV | 8,421 | 16,618 | ||||||
Cemex SAB de CV (b)(c) | 805,981 | 1,019,154 | ||||||
Coca-Cola Femsa SAB de CV | 20,604 | 216,923 | ||||||
Compartamos SAB de CV | 45,786 | 83,721 | ||||||
Controladora Comercial Mexicana SAB de CV | 7,276 | 30,261 | ||||||
Corporacion GEO SAB de CV (b)(c)(e) | 71,361 | 0 | ||||||
Desarrolladora Homex SAB de CV (b)(c)(f) | 28,753 | 6,941 | ||||||
El Puerto de Liverpool SAB de CV | 3,598 | 39,408 | ||||||
Empresas ICA SAB de CV (b)(c) | 52,297 | 87,010 | ||||||
Fibra Uno Administracion SA de CV | 80,778 | 261,424 | ||||||
Fomento Economico Mexicano SAB de CV (c) | 138,925 | 1,294,735 | ||||||
Genomma Lab Internacional SAB de CV (Class B) (b) | 37,936 | 97,596 | ||||||
Gruma SAB de CV (Class B) (b) | 16,352 | 135,327 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV (Class B) | 8,993 | 52,530 | ||||||
Grupo Aeroportuario del Sureste SAB de CV (c) | 27,703 | 339,962 | ||||||
Grupo Bimbo SAB de CV | 229,800 | 620,608 | ||||||
Grupo Carso SA de CV | 67,777 | 356,785 | ||||||
Grupo Elektra SA de CV | 4,679 | 144,357 | ||||||
Grupo Financiero Banorte SAB de CV | 149,282 | 1,004,804 | ||||||
Grupo Financiero Inbursa SA | 220,328 | 567,336 | ||||||
Grupo Financiero Santander Mexico SAB de CV (Class B) (c) | 53,144 | 130,287 | ||||||
Grupo Mexico SAB de CV | 202,659 | 640,340 | ||||||
Grupo Televisa SA de CV (Series CPO) (c) | 134,095 | 894,772 | ||||||
Grupo Televisa SA de CV ADR (c) | 1,074 | 35,753 | ||||||
Impulsora Del Desarrollo Y El Empleo en America Latina SA de CV (b) | 169,730 | 402,708 | ||||||
Industrias Penoles SA de CV | 8,242 | 215,513 | ||||||
Kimberly-Clark de Mexico SAB de CV | 190,972 | 511,649 | ||||||
Megacable Holdings SAB de CV | 13,490 | 54,792 | ||||||
Mexichem SAB de CV (c) | 9,893 | 35,027 | ||||||
Minera Frisco SAB de CV (b)(c) | 47,350 | 91,951 | ||||||
OHL Mexico SAB de CV (b) | 20,440 | 53,055 | ||||||
Promotora y Operadora de Infraestructura SAB de CV (b) | 2,780 | 37,513 | ||||||
TV Azteca SAB de CV | 245,733 | 150,090 | ||||||
Urbi Desarrollos Urbanos SA de CV (b)(c)(e) | 86,307 | 0 | ||||||
Wal-Mart de Mexico SAB de CV (c) | 411,048 | 975,899 | ||||||
14,509,443 | ||||||||
PERU — 3.3% | ||||||||
Alicorp SA | 32,489 | 92,545 | ||||||
Compania de Minas Buenaventura SA ADR | 15,429 | 193,943 | ||||||
Compania Minera Milpo SA | 93,417 | 62,533 | ||||||
Credicorp, Ltd. | 5,836 | 804,901 | ||||||
Grana y Montero SA | 9,073 | 31,659 | ||||||
Minsur SA | 219,842 | 120,547 | ||||||
Southern Copper Corp. (c) | 15,093 | 439,357 | ||||||
Volcan Compania Minera SAA (Class B) | 263,624 | 100,437 | ||||||
1,845,922 | ||||||||
SPAIN — 0.1% | ||||||||
Cemex Latam Holdings SA (b) | 8,261 | 68,912 | ||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $75,240,247) | 55,077,482 | |||||||
PREFERRED STOCKS — 0.1% | ||||||||
COLOMBIA — 0.1% | ||||||||
Grupo Argos SA/Colombia Preference Shares (Cost $67,190) | 6,824 | 71,415 | ||||||
SHORT TERM INVESTMENTS — 15.1% | ||||||||
UNITED STATES — 15.1% | ||||||||
MONEY MARKET FUNDS — 15.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (g)(h) | 8,292,575 | 8,292,575 |
See accompanying notes to financial statements.
148
SPDR S&P Emerging Latin America ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (h)(i) | 38,574 | $ | 38,574 | |||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $8,331,149) | 8,331,149 | |||||||
TOTAL INVESTMENTS — 114.9% | ||||||||
(Cost $83,638,586) | 63,480,046 | |||||||
OTHER ASSETS & LIABILITIES — (14.9)% | (8,248,256 | ) | ||||||
NET ASSETS — 100.0% | $ | 55,231,790 | ||||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Non-income producing security | |||||
(c) | A portion of the security was on loan at March 31, 2014. | |||||
(d) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(e) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 3 inputs (Note 2). | |||||
(f) | Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs (Note 2). | |||||
(g) | Investments of cash collateral for securities loaned | |||||
(h) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(i) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
ADS = American Depositary Shares
See accompanying notes to financial statements.
149
SPDR S&P Emerging Middle East & Africa ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.1% | ||||||||
EGYPT — 4.1% | ||||||||
Arab Cotton Ginning | 31,670 | $ | 27,227 | |||||
Commercial International Bank Egypt SAE | 143,555 | 732,666 | ||||||
Eastern Tobacco | 11,362 | 277,223 | ||||||
Egyptian Financial Group-Hermes Holding (a) | 82,240 | 145,537 | ||||||
Egyptian Kuwait Holding Co. | 110,208 | 116,820 | ||||||
ElSwedy Electric Co. | 16,899 | 81,737 | ||||||
Ezz Steel (a) | 44,749 | 108,220 | ||||||
Global Telecom Holding GDR (a) | 76,150 | 252,666 | ||||||
Juhayna Food Industries | 64,208 | 118,879 | ||||||
Maridive & Oil Services SAE (a) | 37,722 | 39,608 | ||||||
Palm Hills Developments SAE (a) | 85,138 | 44,967 | ||||||
Sidi Kerir Petrochemicals Co. | 49,687 | 139,631 | ||||||
Six of October Development & Investment Co. (a) | 20,853 | 77,068 | ||||||
Talaat Moustafa Group (a) | 232,890 | 255,705 | ||||||
Telecom Egypt | 81,033 | 196,086 | ||||||
2,614,040 | ||||||||
MOROCCO — 2.7% | ||||||||
Attijariwafa Bank | 15,887 | 609,576 | ||||||
Banque Centrale Populaire | 13,262 | 311,628 | ||||||
Banque Marocaine du Commerce Exterieur | 12,526 | 321,231 | ||||||
Banque Marocaine pour le Commerce et l’Industrie SA | 1,337 | 127,963 | ||||||
Douja Promotion Groupe Addoha SA | 13,559 | 101,488 | ||||||
Maroc Telecom | 17,005 | 208,658 | ||||||
1,680,544 | ||||||||
SOUTH AFRICA — 92.3% | ||||||||
Acucap Properties, Ltd. | 19,608 | 74,570 | ||||||
Adcock Ingram Holdings, Ltd. (b) | 31,227 | 175,167 | ||||||
Adcorp Holdings, Ltd. | 10,125 | 30,323 | ||||||
AECI, Ltd. | 26,780 | 323,359 | ||||||
African Bank Investments, Ltd. (b) | 258,160 | 263,857 | ||||||
African Oxygen, Ltd. | 19,109 | 35,973 | ||||||
African Rainbow Minerals, Ltd. | 17,660 | 350,248 | ||||||
Allied Electronics Corp., Ltd. Preference Shares | 39,303 | 87,403 | ||||||
Anglo Platinum, Ltd. (a)(b) | 9,061 | 408,042 | ||||||
AngloGold Ashanti, Ltd. (a)(b) | 66,491 | 1,156,239 | ||||||
Aquarius Platinum, Ltd. (a) | 67,957 | 40,220 | ||||||
ArcelorMittal South Africa, Ltd. (a) | 24,456 | 77,917 | ||||||
Aspen Pharmacare Holdings, Ltd. | 54,088 | 1,446,577 | ||||||
Assore, Ltd. | 8,460 | 328,172 | ||||||
Astral Foods, Ltd. (b) | 7,753 | 63,430 | ||||||
Aveng, Ltd. (a) | 71,586 | 154,226 | ||||||
AVI, Ltd. (b) | 47,673 | 256,226 | ||||||
Barclays Africa Group, Ltd. (b) | 58,908 | 834,510 | ||||||
Barloworld, Ltd. (b) | 41,145 | 431,366 | ||||||
Bidvest Group, Ltd. (b) | 50,375 | 1,333,432 | ||||||
Blue Label Telecoms, Ltd. | 46,319 | 38,313 | ||||||
Brait SE (a) | 69,766 | 352,946 | ||||||
Business Connexion Group, Ltd. | 53,982 | 29,768 | ||||||
Capital Property Fund | 321,469 | 320,311 | ||||||
Capitec Bank Holdings, Ltd. (b) | 1,670 | 30,882 | ||||||
Cashbuild, Ltd. | 2,536 | 32,791 | ||||||
City Lodge Hotels, Ltd. | 4,753 | 52,867 | ||||||
Clicks Group, Ltd. (b) | 50,827 | 316,766 | ||||||
Clover Industries, Ltd. | 19,386 | 35,610 | ||||||
Coronation Fund Managers, Ltd. | 39,269 | 369,620 | ||||||
DataTec, Ltd. | 46,463 | 215,575 | ||||||
Discovery Holdings, Ltd. | 65,737 | 527,313 | ||||||
DRDGOLD, Ltd. | 87,237 | 32,845 | ||||||
Emira Property Fund | 40,976 | 54,620 | ||||||
EOH Holdings, Ltd. | 5,036 | 39,501 | ||||||
Eqstra Holdings, Ltd. | 70,971 | 47,908 | ||||||
Exxaro Resources, Ltd. (b) | 30,142 | 401,209 | ||||||
Famous Brands, Ltd. | 7,934 | 74,875 | ||||||
FirstRand, Ltd. (b) | 443,087 | 1,520,783 | ||||||
Fountainhead Property Trust | 292,787 | 209,334 | ||||||
Gold Fields, Ltd. | 133,945 | 516,148 | ||||||
Grindrod, Ltd. (b) | 90,331 | 219,002 | ||||||
Group Five, Ltd. | 19,709 | 82,899 | ||||||
Growthpoint Properties, Ltd. | 235,716 | 546,827 | ||||||
Harmony Gold Mining Co., Ltd. (a) | 68,309 | 212,372 | ||||||
Hosken Consolidated Investments, Ltd. | 8,347 | 118,643 | ||||||
Hudaco Industries, Ltd. | 4,472 | 44,448 | ||||||
Hyprop Investments, Ltd. | 38,469 | 280,712 | ||||||
Illovo Sugar, Ltd. | 36,217 | 96,449 | ||||||
Impala Platinum Holdings, Ltd. | 92,784 | 1,058,584 | ||||||
Imperial Holdings, Ltd. | 34,453 | 617,461 | ||||||
Investec, Ltd. | 31,620 | 255,055 | ||||||
JD Group, Ltd. (b) | 26,377 | 67,962 | ||||||
JSE, Ltd. (b) | 14,055 | 127,335 | ||||||
Kumba Iron Ore, Ltd. (b) | 13,611 | 489,162 | ||||||
Lewis Group, Ltd. (b) | 15,955 | 87,982 | ||||||
Liberty Holdings, Ltd. | 19,755 | 233,557 | ||||||
Life Healthcare Group Holdings, Ltd. | 156,189 | 571,867 | ||||||
Massmart Holdings, Ltd. (b) | 16,934 | 221,377 | ||||||
Medi-Clinic Corp., Ltd. | 62,784 | 446,679 | ||||||
Merafe Resources, Ltd. (a) | 296,727 | 30,186 | ||||||
MMI Holdings, Ltd. | 211,998 | 495,836 | ||||||
Mondi, Ltd. | 23,550 | 414,021 | ||||||
Mpact, Ltd. | 32,498 | 83,949 | ||||||
Mr. Price Group, Ltd. | 44,824 | 670,832 | ||||||
MTN Group, Ltd. (b) | 276,688 | 5,670,343 | ||||||
Murray & Roberts Holdings, Ltd. (a) | 76,269 | 178,311 | ||||||
Nampak, Ltd. | 107,093 | 366,042 | ||||||
Naspers, Ltd. | 73,384 | 8,102,737 | ||||||
Nedbank Group, Ltd. (b) | 39,489 | 841,148 | ||||||
Netcare, Ltd. | 229,417 | 509,093 | ||||||
Northam Platinum, Ltd. (a) | 62,713 | 232,120 | ||||||
Oceana Group, Ltd. | 5,733 | 49,356 | ||||||
Omnia Holdings, Ltd. | 8,952 | 179,629 | ||||||
Pick n Pay Stores, Ltd. (b) | 53,583 | 262,874 | ||||||
Pick’ n Pay Holdings, Ltd. | 43,114 | 92,107 | ||||||
Pioneer Foods, Ltd. | 16,404 | 130,229 | ||||||
PPC, Ltd. | 102,235 | 284,216 | ||||||
PSG Group, Ltd. | 8,659 | 76,399 | ||||||
Raubex Group, Ltd. | 24,388 | 51,452 | ||||||
Redefine Properties, Ltd. | 473,685 | 430,095 | ||||||
Remgro, Ltd. | 87,510 | 1,705,122 | ||||||
Resilient Property Income Fund, Ltd. | 41,815 | 225,973 | ||||||
Reunert, Ltd. | 31,798 | 194,998 |
See accompanying notes to financial statements.
150
SPDR S&P Emerging Middle East & Africa ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
RMB Holdings, Ltd. | 117,378 | $ | 535,226 | |||||
RMI Holdings | 133,111 | 364,483 | ||||||
SA Corporate Real Estate Fund | 346,736 | 131,865 | ||||||
Sanlam, Ltd. (b) | 339,436 | 1,856,944 | ||||||
Santam, Ltd. | 1,787 | 33,013 | ||||||
Sappi, Ltd. (a) | 99,992 | 351,753 | ||||||
Sasol, Ltd. | 90,692 | 5,083,646 | ||||||
Shoprite Holdings, Ltd. | 64,236 | 972,283 | ||||||
Sibanye Gold, Ltd. | 146,269 | 316,794 | ||||||
Standard Bank Group, Ltd. (b) | 235,033 | 3,101,625 | ||||||
Steinhoff International Holdings, Ltd. (b) | 275,797 | 1,337,306 | ||||||
Sun International, Ltd. | 14,896 | 133,708 | ||||||
Super Group, Ltd. (a) | 53,234 | 145,512 | ||||||
Telkom SA, Ltd. (a) | 39,144 | 125,234 | ||||||
The Foschini Group, Ltd. (b) | 34,761 | 354,124 | ||||||
The Spar Group, Ltd. | 30,542 | 352,871 | ||||||
Tiger Brands, Ltd. (b) | 31,953 | 827,146 | ||||||
Times Media Group, Ltd. (a) | 2,451 | 5,010 | ||||||
Tongaat Hulett, Ltd. | 15,968 | 172,586 | ||||||
Trencor, Ltd. | 17,217 | 106,564 | ||||||
Truworths International, Ltd. (b) | 79,721 | 585,521 | ||||||
Tsogo Sun Holdings, Ltd. | 37,265 | 89,709 | ||||||
Vodacom Group, Ltd. (b) | 48,266 | 596,516 | ||||||
Wilson Bayly Holmes-Ovcon, Ltd. | 14,638 | 191,779 | ||||||
Woolworths Holdings, Ltd. | 133,831 | 933,696 | ||||||
58,851,597 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $67,766,758) | 63,146,181 | |||||||
RIGHTS — 0.0% (c) | ||||||||
EGYPT — 0.0% (c) | ||||||||
Egyptian Kuwait Holding Co. (expiring 4/28/14) (a) (Cost $0) | 17,906 | 4,656 | ||||||
SHORT TERM INVESTMENTS — 23.9% | ||||||||
UNITED STATES — 23.9% | ||||||||
MONEY MARKET FUNDS — 23.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 14,964,218 | 14,964,218 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 277,472 | 277,472 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $15,241,690) | 15,241,690 | |||||||
TOTAL INVESTMENTS — 123.0% | ||||||||
(Cost $83,008,448) | 78,392,527 | |||||||
OTHER ASSETS & LIABILITIES — (23.0)% | (14,634,717 | ) | ||||||
NET ASSETS — 100.0% | $ | 63,757,810 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
GDR = Global Depositary Receipt
See accompanying notes to financial statements.
151
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.1% | ||||||||
AUSTRALIA — 6.4% | ||||||||
Abacus Property Group | 357,400 | $ | 778,452 | |||||
Alumina, Ltd. (a) | 304,259 | 336,993 | ||||||
Amcor, Ltd. | 87,629 | 843,865 | ||||||
AMP, Ltd. | 162,273 | 749,006 | ||||||
Ansell, Ltd. | 26,971 | 460,215 | ||||||
APA Group (b) | 91,490 | 545,248 | ||||||
Aristocrat Leisure, Ltd. | 103,819 | 517,689 | ||||||
Arrium, Ltd. | 80,389 | 100,587 | ||||||
Australia & New Zealand Banking Group, Ltd. | 126,089 | 3,863,577 | ||||||
BHP Billiton, Ltd. | 156,578 | 5,292,685 | ||||||
Billabong International, Ltd. (a)(b) | 134,428 | 64,789 | ||||||
BlueScope Steel, Ltd. (a)(b) | 39,508 | 224,468 | ||||||
Brambles, Ltd. | 124,154 | 1,065,568 | ||||||
Bunnings Warehouse Property Trust | 187,603 | 405,140 | ||||||
carsales.com, Ltd. | 16,856 | 169,509 | ||||||
Commonwealth Bank of Australia | 83,683 | 6,006,371 | ||||||
Computershare, Ltd. | 79,110 | 887,210 | ||||||
CSL, Ltd. | 27,584 | 1,778,387 | ||||||
CSR, Ltd. | 107,438 | 349,522 | ||||||
Dexus Property Group | 137,498 | 135,086 | ||||||
DUET Group | 57,557 | 110,961 | ||||||
Fairfax Media, Ltd. | 114,669 | 97,247 | ||||||
Fortescue Metals Group, Ltd. (b) | 78,560 | 382,270 | ||||||
Goodman Group | 34,564 | 151,529 | ||||||
GWA International, Ltd. | 112,493 | 304,451 | ||||||
Harvey Norman Holdings, Ltd. (b) | 200,948 | 614,621 | ||||||
Hills Industries, Ltd. | 106,178 | 167,299 | ||||||
Iluka Resources, Ltd. (b) | 24,702 | 226,890 | ||||||
Ingenia Communities Group | 363,913 | 170,333 | ||||||
Insurance Australia Group, Ltd. | 184,550 | 952,750 | ||||||
Lend Lease Group | 74,157 | 814,479 | ||||||
Macquarie Group, Ltd. | 21,444 | 1,151,381 | ||||||
Mirvac Group | 84,074 | 132,471 | ||||||
National Australia Bank, Ltd. | 101,979 | 3,351,653 | ||||||
Newcrest Mining, Ltd. (a) | 40,631 | 372,446 | ||||||
Orica, Ltd. | 13,853 | 280,932 | ||||||
Origin Energy, Ltd. | 86,416 | 1,144,553 | ||||||
Orora, Ltd. | 86,084 | 109,707 | ||||||
OZ Minerals, Ltd. | 22,353 | 73,756 | ||||||
Perpetual, Ltd. | 13,665 | 633,270 | ||||||
QBE Insurance Group, Ltd. | 62,208 | 739,169 | ||||||
REA Group, Ltd. | 2,448 | 110,610 | ||||||
Recall Holdings, Ltd. (a) | 26,833 | 115,646 | ||||||
Rio Tinto, Ltd. | 26,830 | 1,580,323 | ||||||
Santos, Ltd. | 71,978 | 900,623 | ||||||
Seek, Ltd. | 16,511 | 268,878 | ||||||
Sonic Healthcare, Ltd. | 57,550 | 921,186 | ||||||
Stockland | 43,655 | 151,731 | ||||||
Suncorp Group, Ltd. | 114,165 | 1,361,824 | ||||||
Sydney Airport | 229,661 | 891,889 | ||||||
Tatts Group, Ltd. | 259,210 | 696,722 | ||||||
Toll Holdings, Ltd. (b) | 79,372 | 382,543 | ||||||
TPG Telecom, Ltd. | 16,914 | 104,250 | ||||||
Treasury Wine Estates, Ltd. | 51,368 | 168,065 | ||||||
Wesfarmers, Ltd. | 79,299 | 3,027,395 | ||||||
Westfield Group | 94,194 | 894,863 | ||||||
Westfield Retail Trust | 80,205 | 221,527 | ||||||
Westpac Banking Corp. | 142,062 | 4,550,522 | ||||||
Woodside Petroleum, Ltd. | 42,853 | 1,549,809 | ||||||
Woolworths, Ltd. | 75,035 | 2,484,190 | ||||||
WorleyParsons, Ltd. | 23,100 | 324,151 | ||||||
57,263,282 | ||||||||
AUSTRIA — 0.2% | ||||||||
Andritz AG (b) | 1,668 | 103,118 | ||||||
Erste Group Bank AG | 16,445 | 562,100 | ||||||
OMV AG | 16,341 | 741,761 | ||||||
Voestalpine AG | 14,568 | 640,600 | ||||||
2,047,579 | ||||||||
BELGIUM — 1.1% | ||||||||
Aedifica SA | 2,026 | 139,505 | ||||||
Ageas | 21,573 | 961,713 | ||||||
Anheuser-Busch InBev NV | 41,330 | 4,334,888 | ||||||
Bekaert NV | 4,572 | 186,457 | ||||||
Delhaize Group | 7,888 | 576,740 | ||||||
Gimv NV | 14,086 | 720,649 | ||||||
KBC Groep NV | 12,534 | 771,328 | ||||||
Solvay SA | 707 | 111,035 | ||||||
UCB SA | 10,862 | 870,088 | ||||||
Umicore (b) | 18,834 | 960,185 | ||||||
9,632,588 | ||||||||
CANADA — 8.6% | ||||||||
AGF Management, Ltd. (b) | 30,936 | 359,040 | ||||||
Agnico-Eagle Mines, Ltd. | 10,640 | 322,646 | ||||||
Agrium, Inc. (b) | 11,380 | 1,110,729 | ||||||
Air Canada (Class A) (a) | 31,165 | 156,143 | ||||||
Alamos Gold, Inc. | 11,400 | 103,181 | ||||||
Alimentation Couche-Tard, Inc. (Class B) | 3,908 | 316,570 | ||||||
ARC Resources, Ltd. (b) | 17,334 | 478,206 | ||||||
Argonaut Gold, Inc. (a) | 16,256 | 70,989 | ||||||
Athabasca Oil Corp. (a) | 15,940 | 114,956 | ||||||
Avigilon Corp. (a) | 3,168 | 82,059 | ||||||
B2Gold Corp. (a) | 51,612 | 140,282 | ||||||
Badger Daylighting, Ltd. (b) | 3,060 | 115,192 | ||||||
Bank of Montreal (b) | 28,030 | 1,878,232 | ||||||
Bank of Nova Scotia | 55,650 | 3,228,330 | ||||||
Bankers Petroleum, Ltd. (a) | 25,968 | 126,576 | ||||||
Barrick Gold Corp. | 56,009 | 998,647 | ||||||
BCE, Inc. (b) | 12,738 | 549,566 | ||||||
Blackberry, Ltd. (a)(b) | 30,017 | 243,399 | ||||||
Bombardier, Inc. (Class B) (b) | 111,537 | 415,327 | ||||||
Brookfield Asset Management, Inc. (Class A) (b) | 33,729 | 1,376,052 | ||||||
CAE, Inc. | 13,404 | 176,696 | ||||||
Cameco Corp. (b) | 30,978 | 710,354 | ||||||
Canadian Energy Services & Technology Corp. | 4,856 | 126,135 | ||||||
Canadian Imperial Bank of Commerce (b) | 20,657 | 1,782,631 | ||||||
Canadian National Railway Co. | 50,601 | 2,847,409 | ||||||
Canadian Natural Resources, Ltd. | 60,653 | 2,328,306 | ||||||
Canadian Oil Sands, Ltd. | 32,171 | 675,919 | ||||||
Canadian Pacific Railway, Ltd. | 9,255 | 1,388,984 |
See accompanying notes to financial statements.
152
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Canadian Solar, Inc. (a) | 2,112 | $ | 67,668 | |||||
Canadian Western Bank (b) | 20,591 | 694,171 | ||||||
Carfinco Financial Group, Inc. | 13,720 | 127,162 | ||||||
Catamaran Corp. (a) | 8,548 | 383,043 | ||||||
CCL Industries, Inc. (Class B) | 1,164 | 99,890 | ||||||
Cenovus Energy, Inc. | 35,715 | 1,034,481 | ||||||
CGI Group, Inc. (Class A) (a) | 19,739 | 610,367 | ||||||
Constellation Software, Inc. | 948 | 230,183 | ||||||
Crescent Point Energy Corp. (b) | 33,058 | 1,208,508 | ||||||
CT Real Estate Investment Trust | 13,546 | 136,963 | ||||||
Detour Gold Corp. (a) | 8,972 | 77,791 | ||||||
Dollarama, Inc. | 1,580 | 120,560 | ||||||
Eldorado Gold Corp. | 30,671 | 170,896 | ||||||
Enbridge, Inc. | 41,097 | 1,869,518 | ||||||
EnCana Corp. | 43,829 | 937,534 | ||||||
Enerplus Corp. | 7,284 | 145,845 | ||||||
Exchange Income Corp. | 6,652 | 123,729 | ||||||
Fairfax Financial Holdings, Ltd. | 1,776 | 772,349 | ||||||
Finning International, Inc. | 6,436 | 182,511 | ||||||
Firm Capital Mortgage Investment Corp. | 27,023 | 294,040 | ||||||
First Majestic Silver Corp. (a) | 12,772 | 123,352 | ||||||
First Quantum Minerals, Ltd. | 40,617 | 751,806 | ||||||
Fortis, Inc. | 11,585 | 330,835 | ||||||
Franco-Nevada Corp. | 7,916 | 364,333 | ||||||
Gildan Activewear, Inc. | 14,720 | 742,968 | ||||||
Goldcorp, Inc. | 43,553 | 1,064,212 | ||||||
Gran Tierra Energy, Inc. (a) | 23,223 | 174,633 | ||||||
HealthLease Properties REIT | 28,304 | 257,717 | ||||||
HNZ Group, Inc. | 8,972 | 178,261 | ||||||
Home Capital Group, Inc. (b) | 3,160 | 127,831 | ||||||
Husky Energy, Inc. (b) | 32,132 | 965,343 | ||||||
IAMGOLD Corp. | 39,231 | 138,264 | ||||||
Imperial Oil, Ltd. (b) | 27,988 | 1,305,388 | ||||||
Innergex Renewable Energy, Inc. (b) | 23,432 | 211,658 | ||||||
Intact Financial Corp. | 6,549 | 408,219 | ||||||
InterOil Corp. (a)(b) | 2,112 | 136,773 | ||||||
K-Bro Linen, Inc. | 6,436 | 228,168 | ||||||
Kinross Gold Corp. (a) | 50,971 | 211,042 | ||||||
Knight Therapeutics, Inc. (a)(b) | 900 | 4,305 | ||||||
Linamar Corp. | 2,320 | 107,198 | ||||||
Lions Gate Entertainment Corp. (b) | 5,064 | 135,361 | ||||||
Lundin Mining Corp. (a) | 34,300 | 157,865 | ||||||
MacDonald, Dettwiler & Associates, Ltd. | 2,112 | 167,085 | ||||||
Magna International, Inc. (Class A) | 18,805 | 1,810,732 | ||||||
Manulife Financial Corp. | 96,523 | 1,864,435 | ||||||
Methanex Corp. (b) | 3,908 | 250,466 | ||||||
National Bank of Canada (b) | 17,384 | 697,723 | ||||||
New Gold, Inc. (a) | 27,756 | 137,554 | ||||||
Nordion, Inc. (a) | 34,809 | 401,782 | ||||||
Open Text Corp. | 5,064 | 242,338 | ||||||
Pacific Rubiales Energy Corp. | 16,230 | 292,765 | ||||||
Parex Resources, Inc. (a) | 16,888 | 145,355 | ||||||
Pembina Pipeline Corp. (b) | 14,299 | 543,848 | ||||||
Pengrowth Energy Corp. | 21,320 | 129,224 | ||||||
Penn West Petroleum, Ltd. (b) | 23,722 | 198,588 | ||||||
Peyto Exploration & Development Corp. (b) | 6,120 | 209,147 | ||||||
Potash Corp. of Saskatchewan, Inc. | 49,760 | 1,802,856 | ||||||
Power Corp. of Canada (b) | 17,334 | 474,594 | ||||||
Power Financial Corp. (b) | 14,442 | 447,882 | ||||||
Precision Drilling Corp. | 14,352 | 172,159 | ||||||
Pure Industrial Real Estate Trust | 39,055 | 169,489 | ||||||
Redknee Solutions, Inc. (a) | 22,141 | 110,730 | ||||||
Richelieu Hardware, Ltd. | 13,870 | 610,720 | ||||||
Rogers Communications, Inc. (Class B) (b) | 26,190 | 1,086,989 | ||||||
Royal Bank of Canada | 73,836 | 4,876,019 | ||||||
Russel Metals, Inc. (b) | 30,667 | 836,865 | ||||||
Secure Energy Services, Inc. | 8,864 | 152,505 | ||||||
SEMAFO, Inc. | 21,428 | 75,714 | ||||||
Shaw Communications, Inc. (Class B) (b) | 37,850 | 905,314 | ||||||
Sherritt International Corp. (b) | 44,082 | 154,162 | ||||||
Shoppers Drug Mart Corp. | 12,150 | 669,612 | ||||||
Silver Wheaton Corp. | 18,532 | 421,094 | ||||||
Sirius XM Canada Holdings, Inc. | 618 | 4,843 | ||||||
SNC-Lavalin Group, Inc. | 9,245 | 404,895 | ||||||
Stantec, Inc. | 1,796 | 109,949 | ||||||
Sun Life Financial, Inc. (b) | 35,884 | 1,244,521 | ||||||
Suncor Energy, Inc. | 84,468 | 2,954,754 | ||||||
Tahoe Resources, Inc. (a) | 6,652 | 140,845 | ||||||
Talisman Energy, Inc. | 71,928 | 718,140 | ||||||
Teck Resources, Ltd. (Class B) (b) | 32,961 | 712,525 | ||||||
TELUS Corp. | 21,838 | 784,091 | ||||||
The Toronto-Dominion Bank (b) | 91,393 | 4,291,641 | ||||||
Thomson Reuters Corp. (b) | 19,685 | 673,972 | ||||||
Tim Hortons, Inc. | 9,840 | 545,067 | ||||||
TMX Group, Ltd. | 2,277 | 111,359 | ||||||
Tourmaline Oil Corp. (a) | 5,912 | 279,919 | ||||||
TransCanada Corp. (b) | 41,175 | 1,874,558 | ||||||
Trinidad Drilling, Ltd. | 10,552 | 110,802 | ||||||
Turquoise Hill Resources, Ltd. (a) | 44,246 | 148,322 | ||||||
Valeant Pharmaceuticals International, Inc. (a) | 15,642 | 2,061,130 | ||||||
West Fraser Timber Co., Ltd. | 1,896 | 86,748 | ||||||
Westjet Airlines, Ltd. | 7,068 | 155,416 | ||||||
Yamana Gold, Inc. (b) | 54,302 | 476,234 | ||||||
Yellow Media, Ltd. (a) | 5,223 | 117,591 | ||||||
77,700,365 | ||||||||
CHINA — 0.3% | ||||||||
Chong Hing Bank, Ltd. (c) | 1,385 | 4,839 | ||||||
Dah Sing Banking Group, Ltd. (b) | 118,327 | 186,710 | ||||||
Dah Sing Financial Holdings, Ltd. | 66,485 | 312,838 | ||||||
ENN Energy Holdings, Ltd. | 38,000 | 264,779 | ||||||
Hongkong Land Holdings, Ltd. | 111,000 | 718,170 | ||||||
Sino Land Co., Ltd. | 345,559 | 507,844 | ||||||
Transport International Holdings, Ltd. | 302,800 | 566,014 | ||||||
2,561,194 | ||||||||
DENMARK — 1.4% | ||||||||
A P Moller — Maersk A/S (b) | 121 | 1,451,911 | ||||||
Carlsberg A/S (Class B) | 2,487 | 247,460 | ||||||
Coloplast A/S (Class B) | 4,013 | 324,848 | ||||||
Danske Bank A/S | 46,529 | 1,297,005 | ||||||
DSV A/S | 28,480 | 919,541 | ||||||
FLSmidth & Co. A/S (b) | 8,535 | 430,768 |
See accompanying notes to financial statements.
153
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Genmab A/S (a) | 2,487 | $ | 101,142 | |||||
GN Store Nord A/S | 26,417 | 655,914 | ||||||
Jyske Bank A/S (a) | 2,180 | 119,846 | ||||||
Novo Nordisk A/S (Class B) | 110,313 | 5,025,890 | ||||||
Novozymes A/S (Class B) | 10,164 | 447,126 | ||||||
Pandora A/S | 3,008 | 199,071 | ||||||
SimCorp A/S | 11,963 | 485,852 | ||||||
TDC A/S | 12,140 | 112,279 | ||||||
Vestas Wind Systems A/S (a) | 12,539 | 504,152 | ||||||
12,322,805 | ||||||||
FINLAND — 1.0% | ||||||||
Amer Sports Oyj (Class A) | 6,256 | 132,956 | ||||||
Caverion Corp. | 12,181 | 130,950 | ||||||
Elisa Oyj (b) | 25,751 | 741,413 | ||||||
Fortum Oyj | 20,843 | 473,993 | ||||||
Kemira Oyj | 19,812 | 288,896 | ||||||
Kesko Oyj (Class B) | 3,487 | 152,205 | ||||||
Kone Oyj (Class B) (b) | 8,868 | 372,047 | ||||||
Konecranes Oyj (b) | 3,198 | 101,949 | ||||||
Lassila & Tikanoja Oyj | 25,783 | 515,263 | ||||||
Metso Oyj (b) | 12,786 | 418,177 | ||||||
Neste Oil Oyj (b) | 11,363 | 231,784 | ||||||
Nokia Oyj (a) | 183,885 | 1,366,039 | ||||||
Pohjola Bank PLC | 13,268 | 294,963 | ||||||
Sampo Oyj (Class A) | 28,293 | 1,468,155 | ||||||
Sanoma Oyj | 17,441 | 121,633 | ||||||
Stockmann Oyj Abp (Class B) (b) | 18,244 | 269,301 | ||||||
Stora Enso Oyj | 38,697 | 414,139 | ||||||
Tikkurila Oyj | 8,539 | 201,248 | ||||||
UPM-Kymmene Oyj | 32,110 | 549,212 | ||||||
Valmet Corp. (b) | 12,518 | 134,314 | ||||||
Wartsila Oyj | 9,331 | 507,087 | ||||||
YIT Oyj (b) | 18,043 | 192,228 | ||||||
9,077,952 | ||||||||
FRANCE — 7.8% | ||||||||
Accor SA | 15,792 | 808,908 | ||||||
Air Liquide SA | 13,828 | 1,873,825 | ||||||
Albioma | 14,434 | 387,926 | ||||||
Alcatel-Lucent (a) | 150,717 | 594,511 | ||||||
Alstom SA | 14,272 | 389,867 | ||||||
Arkema SA | 1,710 | 193,730 | ||||||
AXA SA | 92,860 | 2,414,423 | ||||||
BNP Paribas | 47,411 | 3,658,621 | ||||||
Bollore SA | 223 | 141,458 | ||||||
Bourbon SA (b) | 15,045 | 494,548 | ||||||
Bouygues SA (b) | 14,099 | 588,302 | ||||||
Cap Gemini SA | 13,214 | 1,000,760 | ||||||
Carrefour SA | 37,841 | 1,465,276 | ||||||
Casino Guichard-Perrachon SA | 6,473 | 770,631 | ||||||
CGG (a)(b) | 15,709 | 252,017 | ||||||
Christian Dior SA | 424 | 81,667 | ||||||
Compagnie de Saint-Gobain | 29,482 | 1,781,781 | ||||||
Compagnie Generale des Etablissements Michelin | 13,399 | 1,676,449 | ||||||
Credit Agricole SA (a) | 35,519 | 560,279 | ||||||
Danone | 34,768 | 2,459,681 | ||||||
Dassault Systemes SA | 2,350 | 275,435 | ||||||
Edenred (b) | 15,792 | 495,705 | ||||||
EDF SA | 14,195 | 561,788 | ||||||
Essilor International SA | 14,213 | 1,433,919 | ||||||
Eutelsat Communications SA | 3,646 | 123,869 | ||||||
Faurecia (a) | 2,519 | 106,515 | ||||||
France Telecom SA | 96,540 | 1,426,363 | ||||||
GDF Suez | 75,416 | 2,064,289 | ||||||
Groupe Eurotunnel SA | 18,850 | 240,757 | ||||||
Hermes International | 1,938 | 645,325 | ||||||
Hi-Media SA (a) | 79,784 | 256,212 | ||||||
Iliad SA | 1,028 | 296,545 | ||||||
Ingenico (b) | 2,255 | 210,999 | ||||||
Kering | 5,349 | 1,091,463 | ||||||
L’Oreal SA | 9,154 | 1,510,195 | ||||||
Lafarge SA | 10,825 | 845,939 | ||||||
Lagardere SCA | 14,362 | 570,475 | ||||||
Legrand SA | 8,233 | 511,699 | ||||||
LVMH Moet Hennessy Louis Vuitton SA | 11,532 | 2,097,210 | ||||||
Natixis | 21,624 | 158,881 | ||||||
Nexans SA | 4,519 | 236,956 | ||||||
Numericable Group SA (a) | 3,916 | 153,983 | ||||||
Pernod Ricard SA | 14,580 | 1,698,017 | ||||||
Peugeot SA (a)(b) | 13,373 | 252,417 | ||||||
Plastic Omnium SA | 3,323 | 123,383 | ||||||
Publicis Groupe SA | 14,452 | 1,306,253 | ||||||
Renault SA | 11,830 | 1,150,133 | ||||||
Safran SA | 7,491 | 519,217 | ||||||
Sanofi | 55,628 | 5,802,330 | ||||||
Schneider Electric SA | 33,350 | 2,957,823 | ||||||
Societe de la Tour Eiffel | 5,058 | 347,235 | ||||||
Societe Generale | 34,320 | 2,114,615 | ||||||
Societe Television Francaise 1 | 5,484 | 90,700 | ||||||
Sodexo | 10,711 | 1,123,864 | ||||||
Suez Environnement Co. | 5,181 | 105,290 | ||||||
Technicolor SA (a) | 19,167 | 138,425 | ||||||
Technip SA | 6,843 | 706,503 | ||||||
Thales SA | 1,511 | 100,232 | ||||||
Total SA | 116,535 | 7,645,241 | ||||||
UBISOFT Entertainment (a) | 7,322 | 131,190 | ||||||
Unibail-Rodamco SE | 4,512 | 1,172,218 | ||||||
Valeo SA | 5,917 | 833,859 | ||||||
Vallourec SA | 8,327 | 452,239 | ||||||
Veolia Environnement SA | 37,623 | 744,622 | ||||||
Vinci SA | 31,020 | 2,304,830 | ||||||
Vivendi SA | 58,358 | 1,626,333 | ||||||
Zodiac Aerospace | 5,547 | 196,098 | ||||||
70,552,249 | ||||||||
GERMANY — 7.4% | ||||||||
Aareal Bank AG (a) | 2,322 | 102,169 | ||||||
Adidas AG | 13,446 | 1,455,499 | ||||||
Allianz SE | 24,195 | 4,091,646 | ||||||
BASF SE | 47,036 | 5,230,270 | ||||||
Bayer AG | 43,246 | 5,851,899 | ||||||
Bayerische Motoren Werke AG | 20,347 | 2,569,322 | ||||||
Bilfinger SE | 8,175 | 1,037,596 | ||||||
Brenntag AG | 732 | 135,845 | ||||||
Commerzbank AG (a) | 42,600 | 782,944 | ||||||
Continental AG | 2,984 | 715,198 | ||||||
Daimler AG | 55,498 | 5,246,456 |
See accompanying notes to financial statements.
154
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Deutsche Bank AG | 47,610 | $ | 2,130,960 | |||||
Deutsche Boerse AG | 12,596 | 1,002,912 | ||||||
Deutsche Lufthansa AG (a) | 8,324 | 218,151 | ||||||
Deutsche Post AG | 55,097 | 2,048,032 | ||||||
Deutsche Telekom AG | 156,164 | 2,524,683 | ||||||
DMG MORI SEIKI AG (b) | 3,314 | 101,559 | ||||||
E.ON AG | 93,956 | 1,837,531 | ||||||
Fresenius Medical Care AG & Co. KGaA | 14,695 | 1,025,834 | ||||||
Fresenius SE | 8,546 | 1,338,040 | ||||||
GEA Group AG | 17,977 | 822,094 | ||||||
Hamborner REIT AG | 13,126 | 139,137 | ||||||
HeidelbergCement AG | 2,752 | 235,959 | ||||||
Henkel AG & Co. KGaA Preference Shares | 9,158 | 986,031 | ||||||
Hochtief AG | 4,532 | 411,626 | ||||||
Infineon Technologies AG | 89,961 | 1,073,990 | ||||||
K+S AG | 9,778 | 321,348 | ||||||
Lanxess AG | 4,269 | 322,135 | ||||||
Linde AG | 8,392 | 1,679,422 | ||||||
MAN SE | 4,381 | 558,525 | ||||||
Merck KGaA | 4,825 | 812,969 | ||||||
Metro AG (a) | 3,079 | 125,718 | ||||||
Morphosys AG (a) | 992 | 92,014 | ||||||
MTU Aero Engines AG | 1,744 | 162,151 | ||||||
Muenchener Rueckversicherungs- Gesellschaft AG | 9,380 | 2,050,378 | ||||||
Norma Group SE | 2,286 | 121,191 | ||||||
OHB AG | 4,840 | 134,749 | ||||||
OSRAM Licht AG (a) | 3,674 | 238,322 | ||||||
Porsche Automobil Holding SE Preference Shares | 10,700 | 1,099,114 | ||||||
ProSiebenSat.1 Media AG | 1,944 | 89,007 | ||||||
Puma AG Rudolf Dassler Sport (b) | 1,832 | 515,722 | ||||||
Rheinmetall AG | 1,990 | 140,016 | ||||||
RWE AG | 25,071 | 1,017,964 | ||||||
Salzgitter AG (b) | 4,746 | 187,666 | ||||||
SAP AG | 51,154 | 4,142,755 | ||||||
Siemens AG | 40,105 | 5,400,338 | ||||||
Sky Deutschland AG (a) | 15,208 | 131,212 | ||||||
Symrise AG | 2,445 | 122,190 | ||||||
ThyssenKrupp AG (a) | 24,045 | 645,070 | ||||||
Volkswagen AG | 1,790 | 453,940 | ||||||
Volkswagen AG Preference Shares | 7,410 | 1,921,033 | ||||||
Wincor Nixdorf AG | 9,296 | 668,157 | ||||||
Wirecard AG | 3,156 | 131,015 | ||||||
66,399,504 | ||||||||
GREECE — 0.1% | ||||||||
Hellenic Exchanges SA | 18,549 | 232,643 | ||||||
Hellenic Telecommunications Organization SA ADR (a) | 57,535 | 489,047 | ||||||
JUMBO SA (a) | 6,645 | 119,060 | ||||||
National Bank of Greece SA (a) | 18,628 | 101,156 | ||||||
OPAP SA | 8,641 | 139,341 | ||||||
Piraeus Bank SA (a) | 44,476 | 122,598 | ||||||
Terna Energy SA (a) | 29,443 | 185,044 | ||||||
1,388,889 | ||||||||
HONG KONG — 2.3% | ||||||||
AIA Group, Ltd. | 454,000 | 2,153,808 | ||||||
APT Satellite Holdings, Ltd. | 105,500 | 124,581 | ||||||
Bank of East Asia, Ltd. (b) | 206,980 | 808,490 | ||||||
Bloomage Biotechnology Corp., Ltd. | 24,147 | 62,414 | ||||||
Cheung Kong Holdings, Ltd. | 25,000 | 414,462 | ||||||
China Water Industry Group, Ltd. (a) | 804,000 | 159,617 | ||||||
CLP Holdings, Ltd. | 149,500 | 1,127,458 | ||||||
Esprit Holdings, Ltd. (b) | 165,119 | 274,593 | ||||||
Galaxy Entertainment Group, Ltd. (a) | 124,000 | 1,078,219 | ||||||
Hang Lung Group, Ltd. | 140,000 | 704,778 | ||||||
Hang Lung Properties, Ltd. | 260,000 | 747,449 | ||||||
HC International, Inc. (a) | 60,000 | 153,925 | ||||||
HKT Trust/HKT, Ltd. (b) | 105,000 | 110,725 | ||||||
Hong Kong & China Gas Co., Ltd. | 57,000 | 124,331 | ||||||
Hong Kong Exchanges and Clearing, Ltd. | 94,411 | 1,431,309 | ||||||
Hongkong Electric Holdings, Ltd. | 41,500 | 359,786 | ||||||
Hopewell Holdings | 157,500 | 541,105 | ||||||
Hutchison Whampoa, Ltd. | 116,000 | 1,535,790 | ||||||
Hysan Development Co., Ltd. | 177,841 | 773,765 | ||||||
Jardine Matheson Holdings, Ltd. | 6,752 | 425,916 | ||||||
Jardine Strategic Holdings, Ltd. | 4,000 | 143,440 | ||||||
Li & Fung, Ltd. (b) | 476,000 | 703,226 | ||||||
Melco Crown Entertainment, Ltd. ADR (a)(b) | 6,775 | 261,854 | ||||||
Melco International Development, Ltd. | 34,000 | 113,961 | ||||||
New World Development Co., Ltd. (b) | 571,880 | 575,046 | ||||||
Noble Group, Ltd. | 214,000 | 201,654 | ||||||
Pacific Basin Shipping, Ltd. | 598,000 | 381,601 | ||||||
Sands China, Ltd. | 118,800 | 887,510 | ||||||
SJM Holdings, Ltd. | 86,000 | 241,690 | ||||||
Sun Hung Kai Properties, Ltd. | 123,233 | 1,509,225 | ||||||
Swire Pacific, Ltd. | 80,500 | 938,659 | ||||||
Techtronic Industries Co. | 62,500 | 174,035 | ||||||
The Link REIT | 109,851 | 540,259 | ||||||
Wheelock & Co., Ltd. | 151,000 | 589,825 | ||||||
Wing Hang Bank, Ltd. | 25,624 | 406,308 | ||||||
20,780,814 | ||||||||
IRELAND — 0.7% | ||||||||
Aer Lingus Group PLC | 48,013 | 108,194 | ||||||
Bank of Ireland (a) | 1,258,465 | 534,219 | ||||||
C&C Group PLC | 17,730 | 115,560 | ||||||
CRH PLC | 44,100 | 1,227,468 | ||||||
DCC PLC | 14,137 | 768,333 | ||||||
Endo International PLC (a)(b) | 1,469 | 101,057 | ||||||
FleetMatics Group PLC (a) | 2,480 | 82,956 | ||||||
Glanbia PLC | 5,690 | 87,363 | ||||||
Grafton Group PLC | 45,270 | 488,303 | ||||||
Green REIT PLC (a) | 97,327 | 160,969 | ||||||
Greencore Group PLC | 23,743 | 109,131 | ||||||
ICON PLC (a) | 1,833 | 87,159 | ||||||
Irish Bank Resolution Corp., Ltd. (a)(c) | 5,635 | 0 | ||||||
James Hardie Industries PLC | 19,443 | 258,237 | ||||||
Kerry Group PLC (Class A) | 3,639 | 277,906 | ||||||
Kingspan Group PLC | 19,423 | 369,690 | ||||||
Paddy Power PLC | 1,519 | 120,380 | ||||||
Ryanair Holdings PLC ADR (a)(b) | 5,890 | 346,391 |
See accompanying notes to financial statements.
155
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Smurfit Kappa Group PLC | 8,868 | $ | 215,113 | |||||
UDG Healthcare PLC | 83,580 | �� | 489,085 | |||||
5,947,514 | ||||||||
ISRAEL — 0.6% | ||||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 98,469 | 175,233 | ||||||
Check Point Software Technologies, Ltd. (a)(b) | 6,459 | 436,822 | ||||||
Evogene, Ltd. (a) | 7,787 | 148,705 | ||||||
Mazor Robotics, Ltd. (a) | 7,201 | 74,132 | ||||||
Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. | 7,474 | 433,002 | ||||||
Reit 1, Ltd. | 69,991 | 174,469 | ||||||
Shufersal, Ltd. | 107,661 | 429,700 | ||||||
Strauss Group, Ltd. | 30,780 | 556,309 | ||||||
Taro Pharmaceutical Industries, Ltd. (a) | 1,106 | 122,766 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 49,766 | 2,629,636 | ||||||
5,180,774 | ||||||||
ITALY — 2.3% | ||||||||
A2A SpA | 67,792 | 87,922 | ||||||
Aeroporto di Venezia Marco Polo SpA | 7,553 | 137,515 | ||||||
Assicurazioni Generali SpA | 31,528 | 703,077 | ||||||
Atlantia SpA | 37,304 | 958,875 | ||||||
Azimut Holding SpA | 4,540 | 162,063 | ||||||
Banca Generali SpA | 3,332 | 109,986 | ||||||
Banca IFIS SpA | 8,914 | 196,694 | ||||||
Banca Piccolo Credito Valtellinese Scarl (a)(b) | 70,013 | 148,313 | ||||||
Banca Popolare dell’Emilia Romagna Societa Cooperativa (a) | 17,137 | 216,114 | ||||||
Banca Popolare di Milano Scarl (a) | 283,917 | 285,655 | ||||||
Banca Popolare di Sondrio Scrl | 30,854 | 209,646 | ||||||
Banco Popolare Societa Cooperativa (a)(b) | 11,974 | 260,420 | ||||||
Brembo SpA | 4,087 | 154,792 | ||||||
Cairo Communication SpA | 23,552 | 219,109 | ||||||
Davide Campari-Milano SpA (b) | 110,178 | 903,524 | ||||||
Enel SpA | 253,791 | 1,436,926 | ||||||
ENI SpA | 121,294 | 3,044,228 | ||||||
Falck Renewables SpA (a) | 211,274 | 433,871 | ||||||
Fiat SpA (a) | 53,516 | 623,258 | ||||||
Finmeccanica SpA (a) | 35,868 | 354,202 | ||||||
Immobiliare Grande Distribuzione | 222,132 | 397,081 | ||||||
Interpump Group SpA | 9,137 | 140,790 | ||||||
Intesa Sanpaolo SpA | 626,388 | 2,123,765 | ||||||
Iren SpA | 137,926 | 249,026 | ||||||
Luxottica Group SpA | 2,483 | 143,664 | ||||||
Mediaset SpA (a) | 33,355 | 186,552 | ||||||
Mediobanca SpA (a) | 19,346 | 221,308 | ||||||
Pirelli & C. SpA | 30,677 | 481,998 | ||||||
Poltrona Frau SpA (a) | 25,923 | 105,542 | ||||||
Prada SpA (b) | 20,400 | 159,633 | ||||||
Prysmian SpA | 8,357 | 208,016 | ||||||
Recordati SpA | 7,208 | 126,167 | ||||||
Reply SpA | 1,792 | 159,304 | ||||||
Saipem SpA | 19,503 | 476,314 | ||||||
Salvatore Ferragamo SpA | 3,135 | 92,336 | ||||||
Snam SpA | 21,800 | 127,695 | ||||||
Societa Cattolica di Assicurazioni Scrl | 21,104 | 541,883 | ||||||
Sogefi SpA | 17,690 | 115,372 | ||||||
Telecom Italia SpA (a) | 666,515 | 786,342 | ||||||
UBI Banca ScPA | 40,638 | 383,104 | ||||||
UniCredit SpA | 240,243 | 2,195,291 | ||||||
Unipol Gruppo Finanziario SpA | 16,784 | 131,162 | ||||||
UnipolSai SpA (a) | 42,647 | 163,874 | ||||||
World Duty Free SpA (a) | 5,892 | 82,668 | ||||||
Yoox SpA (a) | 3,322 | 113,685 | ||||||
Zignago Vetro SpA | 18,162 | 157,199 | ||||||
20,715,961 | ||||||||
JAPAN — 18.7% | ||||||||
Acom Co., Ltd. (a)(b) | 27,200 | 87,158 | ||||||
Activia Properties, Inc. | 10 | 80,497 | ||||||
Advance Residence Investment Corp. | 38 | 81,103 | ||||||
Advantest Corp. (b) | 22,100 | 239,702 | ||||||
Aeon Co., Ltd. | 61,020 | 689,093 | ||||||
Aeon Credit Service Co., Ltd. (b) | 3,500 | 79,084 | ||||||
AEON REIT Investment Corp. | 62 | 74,170 | ||||||
Ajinomoto Co., Inc. | 22,000 | 315,094 | ||||||
Alconix Corp. | 14,800 | 311,133 | ||||||
Alps Electric Co., Ltd. (a) | 9,700 | 115,946 | ||||||
ANA Holdings, Inc. (b) | 36,000 | 77,953 | ||||||
Aoyama Trading Co., Ltd. | 25,400 | 668,389 | ||||||
Asahi Breweries, Ltd. | 35,236 | 988,462 | ||||||
Asahi Kasei Corp. | 117,550 | 801,283 | ||||||
Asics Corp. | 7,200 | 141,854 | ||||||
Astellas Pharma, Inc. | 138,050 | 1,640,755 | ||||||
Atom Corp. (b) | 48,800 | 244,983 | ||||||
Bridgestone Corp. | 42,965 | 1,526,940 | ||||||
Brother Industries, Ltd. | 9,900 | 138,716 | ||||||
Calbee, Inc. | 3,700 | 87,268 | ||||||
Can Do Co., Ltd. | 8,200 | 131,219 | ||||||
Canon, Inc. | 60,816 | 1,884,390 | ||||||
Casio Computer Co., Ltd. | 41,300 | 489,657 | ||||||
Central Japan Railway Co. (b) | 13,600 | 1,592,620 | ||||||
Chubu Electric Power Co., Inc. (a) | 45,765 | 539,928 | ||||||
Chugai Pharmaceutical Co., Ltd. | 22,380 | 572,620 | ||||||
Chuo Mitsui Trust Holdings, Inc. | 264,550 | 1,197,070 | ||||||
COLOPL, Inc. (a)(b) | 2,000 | 52,668 | ||||||
Colowide Co., Ltd. (b) | 58,500 | 597,014 | ||||||
COOKPAD, Inc. (b) | 2,100 | 50,142 | ||||||
Credit Saison Co., Ltd. | 28,400 | 566,152 | ||||||
CyberAgent, Inc. | 2,900 | 111,230 | ||||||
Daicel Corp. | 11,000 | 90,363 | ||||||
Daifuku Co., Ltd. | 7,500 | 92,926 | ||||||
Daiichi Sankyo Co., Ltd. | 45,765 | 772,341 | ||||||
Daiken Medical Co., Ltd. | 5,800 | 96,474 | ||||||
Daikin Industries, Ltd. | 19,110 | 1,072,914 | ||||||
Dainippon Sumitomo Pharma Co., Ltd. | 8,200 | 130,582 | ||||||
Daito Trust Construction Co., Ltd. | 8,255 | 765,582 | ||||||
Daiwa House Industry Co., Ltd. | 9,000 | 153,022 | ||||||
Daiwa House REIT Investment Corp. | 10 | 40,054 | ||||||
Daiwa Securities Group, Inc. | 127,550 | 1,112,200 | ||||||
Daiwahouse Residential Investment Corp. | 19 | 76,565 | ||||||
DeNA Co., Ltd. (b) | 6,600 | 119,458 |
See accompanying notes to financial statements.
156
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Denso Corp. | 30,510 | $ | 1,465,878 | |||||
Dentsu, Inc. | 10,700 | 406,763 | ||||||
Don Quijote Holdings Co., Ltd. | 1,700 | 87,984 | ||||||
Dowa Holdings Co., Ltd. (b) | 22,000 | 184,143 | ||||||
East Japan Railway Co. | 15,400 | 1,137,373 | ||||||
Ebara Corp. | 19,000 | 119,367 | ||||||
Eisai Co., Ltd. (b) | 15,351 | 598,925 | ||||||
Electric Power Development Co., Ltd. | 5,500 | 155,678 | ||||||
Euglena Co., Ltd. (a)(b) | 5,000 | 49,328 | ||||||
F@N Communications, Inc. (b) | 6,400 | 114,657 | ||||||
FANUC Corp. | 11,055 | 1,954,229 | ||||||
Fast Retailing Co., Ltd. (b) | 2,600 | 945,099 | ||||||
Financial Products Group Co., Ltd. (b) | 4,000 | 42,530 | ||||||
Foster Electric Co., Ltd. | 16,900 | 206,112 | ||||||
Frontier Real Estate Investment Corp. | 20 | 106,617 | ||||||
Fuji Heavy Industries, Ltd. | 21,800 | 591,014 | ||||||
FUJIFILM Holdings Corp. | 30,510 | 820,927 | ||||||
Fujitsu, Ltd. | 113,513 | 687,791 | ||||||
Fukuoka Financial Group, Inc. | 152,550 | 628,064 | ||||||
Fukuoka REIT Corp. (b) | 10 | 16,109 | ||||||
Furukawa Electric Co., Ltd. (b) | 121,550 | 303,329 | ||||||
GLP J-Reit | 166 | 167,475 | ||||||
GMO Internet, Inc. | 3,500 | 34,971 | ||||||
GS Yuasa Corp. (b) | 17,000 | 90,295 | ||||||
GungHo Online Entertainment, Inc. (b) | 17,400 | 95,123 | ||||||
Gurunavi, Inc. | 6,000 | 84,478 | ||||||
Hankyu Hanshin Holdings, Inc. | 153,513 | 837,737 | ||||||
Hankyu REIT, Inc. | 32 | 162,198 | ||||||
Heiwa Real Estate REIT, Inc. (b) | 440 | 342,225 | ||||||
Hino Motors, Ltd. | 10,400 | 154,609 | ||||||
Hirose Electric Co., Ltd. | 900 | 123,921 | ||||||
Hitachi Metals, Ltd. | 11,000 | 156,906 | ||||||
Hitachi, Ltd. | 267,475 | 1,979,084 | ||||||
Hokkaido Gas Co., Ltd. (b) | 48,000 | 131,903 | ||||||
Honda Motor Co., Ltd. | 75,875 | 2,677,378 | ||||||
Hoya Corp. | 33,706 | 1,051,584 | ||||||
Hulic Co., Ltd. | 15,900 | 218,309 | ||||||
Ibiden Co., Ltd. | 15,700 | 310,082 | ||||||
Ichigo Real Estate Investment Corp. | 605 | 368,928 | ||||||
IHI Corp. | 45,000 | 189,639 | ||||||
Iida Group Holdings Co., Ltd. | 5,000 | 69,379 | ||||||
Industrial & Infrastructure Fund Investment Corp. (b) | 20 | 164,878 | ||||||
Infomart Corp. | 8,500 | 142,540 | ||||||
Inpex Corp. | 36,300 | 471,969 | ||||||
Intage Holdings, Inc. | 11,900 | 158,420 | ||||||
Iriso Electronics Co., Ltd. | 2,200 | 118,988 | ||||||
Isuzu Motors, Ltd. | 131,000 | 754,314 | ||||||
ITOCHU Corp. | 114,850 | 1,344,944 | ||||||
Iwatani Corp. | 14,000 | 91,625 | ||||||
J Front Retailing Co., Ltd. | 16,000 | 110,307 | ||||||
Jafco Co., Ltd. (a)(b) | 2,100 | 94,412 | ||||||
Japan Airlines Co., Ltd. | 2,000 | 98,655 | ||||||
Japan Airport Terminal Co., Ltd. (b) | 4,800 | 124,958 | ||||||
Japan Digital Laboratory Co., Ltd. | 23,420 | 338,389 | ||||||
Japan Excellent, Inc. | 66 | 84,338 | ||||||
Japan Exchange Group, Inc. (b) | 14,900 | 364,307 | ||||||
Japan Hotel REIT Investment Corp. | 1,056 | 482,960 | ||||||
Japan Logistics Fund, Inc. | 37 | 83,352 | ||||||
Japan Prime Realty Investment Corp. | 29 | 94,053 | ||||||
Japan Real Estate Investment Corp. | 35 | 176,045 | ||||||
Japan Retail Fund Investment Corp. | 47 | 92,736 | ||||||
Japan Tissue Engineering Co., Ltd. (a) | 2,200 | 32,898 | ||||||
Japan Tobacco, Inc. | 60,400 | 1,900,238 | ||||||
JFE Holdings, Inc. | 30,510 | 575,627 | ||||||
JGC Corp. | 8,000 | 278,876 | ||||||
JSR Corp. (b) | 25,900 | 481,106 | ||||||
JTEKT Corp. | 11,600 | 172,786 | ||||||
JX Holdings, Inc. | 191,600 | 924,651 | ||||||
Kajima Corp. (b) | 113,475 | 398,873 | ||||||
Kakaku.com, Inc. (b) | 13,000 | 211,943 | ||||||
Kao Corp. | 25,700 | 912,608 | ||||||
Kawai Musical Instruments Manufacturing Co., Ltd. | 106,000 | 193,504 | ||||||
Kawasaki Heavy Industries, Ltd. | 46,000 | 169,733 | ||||||
KDDI Corp. | 29,100 | 1,688,611 | ||||||
Kenedix Office Investment Corp. | 42 | 208,807 | ||||||
Kenedix, Inc. (b) | 14,600 | 47,351 | ||||||
Keyence Corp. | 2,000 | 826,722 | ||||||
Kinki Nippon Tourist Co., Ltd. (a)(b) | 137,000 | 223,489 | ||||||
Kintetsu Corp. (b) | 271,101 | 966,103 | ||||||
Kirin Holdings Co., Ltd. | 29,000 | 402,680 | ||||||
Koito Manufacturing Co., Ltd. | 5,000 | 84,818 | ||||||
Komatsu, Ltd. | 56,920 | 1,181,677 | ||||||
Konami Corp. (b) | 4,300 | 99,582 | ||||||
Konica Minolta Holdings, Inc. | 51,775 | 484,142 | ||||||
Kubota Corp. | 68,550 | 909,917 | ||||||
Kurita Water Industries, Ltd. (b) | 16,010 | 348,074 | ||||||
Kyocera Corp. | 27,200 | 1,228,932 | ||||||
Kyodo Shiryo Co., Ltd. (b) | 262,000 | 287,479 | ||||||
Kyoritsu Maintenance Co., Ltd. (b) | 13,200 | 446,046 | ||||||
Kyoto Kimono Yuzen Co., Ltd. | 24,700 | 242,959 | ||||||
Kyushu Electric Power Co., Inc. (a) | 19,000 | 232,830 | ||||||
Leopalace21 Corp. (a) | 1,600 | 7,690 | ||||||
Livesense, Inc. (a)(b) | 3,000 | 36,151 | ||||||
LIXIL Group Corp. | 10,900 | 301,223 | ||||||
M3, Inc. | 7,600 | 125,012 | ||||||
Makita Corp. | 5,600 | 308,317 | ||||||
Marubeni Corp. (b) | 154,550 | 1,039,988 | ||||||
Matsuya Co., Ltd. | 28,400 | 236,333 | ||||||
Mazda Motor Corp. | 121,000 | 538,117 | ||||||
Medipal Holdings Corp. | 32,799 | 502,567 | ||||||
MEIJI Holdings Co., Ltd. | 2,600 | 164,354 | ||||||
Meiko Network Japan Co., Ltd. | 28,300 | 303,926 | ||||||
MID Reit, Inc. | 126 | 285,193 | ||||||
Milbon Co., Ltd. | 13,200 | 440,278 | ||||||
Minebea Co., Ltd. | 16,000 | 142,623 | ||||||
MISUMI Group, Inc. | 18,157 | 504,239 | ||||||
Mitsubishi Corp. | 90,938 | 1,691,870 | ||||||
Mitsubishi Electric Corp. | 135,550 | 1,529,437 | ||||||
Mitsubishi Estate Co., Ltd. | 50,925 | 1,209,521 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 15,000 | 84,770 | ||||||
Mitsubishi Heavy Industries, Ltd. | 210,101 | 1,217,947 | ||||||
Mitsubishi Logistics Corp. | 9,000 | 125,494 | ||||||
Mitsubishi Motors Corp. | 45,600 | 478,206 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 592,824 | 3,263,885 | ||||||
Mitsui & Co., Ltd. | 108,126 | 1,531,833 |
See accompanying notes to financial statements.
157
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Mitsui Chemicals, Inc. (b) | 122,550 | $ | 301,065 | |||||
Mitsui Fudosan Co., Ltd. | 33,000 | 1,009,050 | ||||||
Mitsui OSK Lines, Ltd. | 129,550 | 505,696 | ||||||
Mizuho Financial Group, Inc. (b) | 1,180,200 | 2,337,824 | ||||||
Mori Hills REIT Investment Corp. | 60 | 79,468 | ||||||
MS&AD Insurance Group Holdings, Inc. | 30,799 | 706,985 | ||||||
Murata Manufacturing Co., Ltd. | 13,900 | 1,313,944 | ||||||
Nabtesco Corp. | 5,200 | 119,870 | ||||||
Nachi-Fujikoshi Corp. | 15,000 | 99,044 | ||||||
Namco Bandai Holdings, Inc. | 11,100 | 263,313 | ||||||
NEC Corp. | 114,000 | 350,905 | ||||||
NGK Insulators, Ltd. | 12,000 | 250,522 | ||||||
NGK Spark Plug Co., Ltd. | 6,000 | 135,165 | ||||||
NHK Spring Co., Ltd. | 11,400 | 105,936 | ||||||
Nidec Corp. (b) | 14,400 | 877,969 | ||||||
Nikon Corp. (b) | 30,200 | 487,376 | ||||||
Nintendo Co., Ltd. | 4,900 | 583,328 | ||||||
Nippon Accommodations Fund, Inc. | 11 | 36,903 | ||||||
Nippon Building Fund, Inc. | 38 | 198,883 | ||||||
Nippon Paint Co., Ltd. | 9,000 | 136,680 | ||||||
Nippon Paper Industries Co., Ltd. (b) | 4,200 | 79,322 | ||||||
Nippon Prologis REIT, Inc. | 10 | 20,217 | ||||||
Nippon Steel Corp. | 491,101 | 1,344,764 | ||||||
Nippon Suisan Kaisha, Ltd. (a) | 206,900 | 435,960 | ||||||
Nippon Telegraph & Telephone Corp. | 15,600 | 851,157 | ||||||
Nippon Yusen K.K. (b) | 152,550 | 444,385 | ||||||
Nissan Motor Co., Ltd. | 121,941 | 1,089,340 | ||||||
Nissei ASB Machine Co., Ltd. | 4,300 | 77,453 | ||||||
Nitori Holding Co., Ltd. | 1,700 | 73,870 | ||||||
Nitto Denko Corp. | 10,500 | 503,869 | ||||||
NKSJ Holdings, Inc. | 31,200 | 803,441 | ||||||
Nomura Holdings, Inc. | 197,585 | 1,270,100 | ||||||
Nomura Real Estate Residential Fund, Inc. | 16 | 82,187 | ||||||
Nomura Research Institute, Ltd. | 3,000 | 94,965 | ||||||
NSK, Ltd. | 17,000 | 175,307 | ||||||
NTT Data Corp. | 11,900 | 463,936 | ||||||
NTT DoCoMo, Inc. | 89,600 | 1,416,408 | ||||||
Obayashi Corp. | 71,550 | 404,351 | ||||||
OJI Paper Co., Ltd. | 23,000 | 103,180 | ||||||
Oki Electric Industry Co., Ltd. (b) | 36,000 | 77,254 | ||||||
Olympus Corp. (a) | 16,100 | 514,337 | ||||||
Omron Corp. | 10,400 | 430,199 | ||||||
Ono Pharmaceutical Co., Ltd. (b) | 4,700 | 408,001 | ||||||
ORIX Corp. (a) | 60,900 | 859,229 | ||||||
Orix JREIT, Inc. | 63 | 78,792 | ||||||
Osaka Gas Co., Ltd. | 41,000 | 155,663 | ||||||
Otsuka Holdings Co., Ltd. | 18,300 | 548,547 | ||||||
Panasonic Corp. | 122,250 | 1,392,429 | ||||||
Pigeon Corp. | 3,100 | 140,273 | ||||||
Rakuten, Inc. (b) | 32,600 | 435,891 | ||||||
Raysum Co., Ltd. (a)(b) | 3,300 | 33,517 | ||||||
Renesas Electronics Corp. (a)(b) | 11,600 | 88,646 | ||||||
Resona Holdings, Inc. | 45,800 | 221,918 | ||||||
Ricoh Co., Ltd. | 28,800 | 332,786 | ||||||
Ringer Hut Co., Ltd. (b) | 31,400 | 450,640 | ||||||
Riso Kyoiku Co., Ltd. (b) | 20,806 | 51,517 | ||||||
Rock Field Co., Ltd. | 13,800 | 262,238 | ||||||
Rohm Co., Ltd. | 8,600 | 384,551 | ||||||
Rohto Pharmaceutical Co., Ltd. | 8,801 | 155,706 | ||||||
Ryohin Keikaku Co., Ltd. | 1,000 | 96,519 | ||||||
Sankyo Seiko Co., Ltd. | 56,300 | 205,006 | ||||||
Sanrio Co., Ltd. (b) | 3,900 | 131,786 | ||||||
Sawai Pharmaceutical Co., Ltd. | 1,600 | 98,344 | ||||||
SBI Holdings, Inc. | 10,200 | 123,210 | ||||||
Secom Co., Ltd. | 15,448 | 891,914 | ||||||
Sega Sammy Holdings, Inc. | 8,200 | 184,089 | ||||||
Seiko Epson Corp. | 10,600 | 330,398 | ||||||
Seino Holdings Co., Ltd. | 8,000 | 76,361 | ||||||
Sekisui Chemical Co., Ltd. | 17,000 | 177,123 | ||||||
Sekisui House SI Investment Co. (b) | 165 | 164,383 | ||||||
Sekisui House, Ltd. | 9,600 | 119,412 | ||||||
Seria Co., Ltd. | 1,900 | 70,569 | ||||||
Seven & I Holdings Co., Ltd. | 45,628 | 1,747,408 | ||||||
Sharp Corp. (a)(b) | 62,000 | 189,037 | ||||||
Shikoku Electric Power Co., Inc. (a) | 10,400 | 141,380 | ||||||
Shimano, Inc. | 2,500 | 251,736 | ||||||
Shimizu Corp. (b) | 103,513 | 537,743 | ||||||
Shin-Etsu Chemical Co., Ltd. | 25,117 | 1,438,463 | ||||||
Shinsei Bank, Ltd. (b) | 93,000 | 183,318 | ||||||
Shiseido Co., Ltd. (b) | 11,600 | 204,550 | ||||||
SMC Corp. | 2,200 | 581,590 | ||||||
SMS Co., Ltd. (a)(b) | 3,900 | 76,269 | ||||||
Softbank Corp. | 47,736 | 3,615,486 | ||||||
Sony Corp. (b) | 60,720 | 1,162,692 | ||||||
Square Enix Holdings Co., Ltd. (b) | 3,400 | 70,156 | ||||||
Stanley Electric Co., Ltd. | 26,573 | 591,142 | ||||||
Start Today Co., Ltd. (b) | 2,700 | 69,293 | ||||||
Starts Proceed Investment Corp. | 51 | 86,168 | ||||||
Sumitomo Chemical Co., Ltd. | 152,550 | 564,369 | ||||||
Sumitomo Corp. (b) | 91,375 | 1,164,979 | ||||||
Sumitomo Electric Industries, Ltd. | 60,720 | 905,626 | ||||||
Sumitomo Heavy Industries, Ltd. | 24,000 | 97,645 | ||||||
Sumitomo Metal Mining Co., Ltd. | 5,000 | 62,922 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 69,600 | 2,979,719 | ||||||
Sumitomo Precision Products Co., Ltd. | 46,000 | 165,267 | ||||||
Sumitomo Realty & Development Co., Ltd. | 21,000 | 824,217 | ||||||
Sun Corp. | 3,000 | 29,422 | ||||||
Sun Frontier Fudousan Co., Ltd. (b) | 3,100 | 42,864 | ||||||
Suruga Bank, Ltd. | 10,000 | 176,531 | ||||||
Suzuki Motor Corp. | 14,800 | 387,155 | ||||||
Sysmex Corp. | 5,800 | 185,289 | ||||||
T&D Holdings, Inc. | 46,000 | 548,060 | ||||||
Tadano, Ltd. | 6,000 | 78,186 | ||||||
Taiheiyo Cement Corp. (b) | 23,000 | 83,080 | ||||||
Taisei Corp. (b) | 97,438 | 436,170 | ||||||
Taiyo Yuden Co., Ltd. (b) | 20,500 | 253,401 | ||||||
Takeda Pharmaceutical Co., Ltd. | 42,365 | 2,012,425 | ||||||
Takeuchi Manufacturing Co., Ltd. | 8,400 | 214,680 | ||||||
TDK Corp. | 12,355 | 517,066 | ||||||
Teijin, Ltd. | 156,550 | 389,152 | ||||||
Temp Holdings Co., Ltd. | 2,700 | 71,783 | ||||||
Terumo Corp. | 30,896 | 675,911 | ||||||
The Akita Bank, Ltd. (b) | 152,550 | 441,423 | ||||||
The Aomori Bank, Ltd. (b) | 305,101 | 844,334 |
See accompanying notes to financial statements.
158
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
The Awa Bank, Ltd. | 152,550 | $ | 813,225 | |||||
The Bank of Iwate, Ltd. (b) | 11,655 | 564,162 | ||||||
The Bank of Okinawa, Ltd. (b) | 13,155 | 556,295 | ||||||
The Bank of Yokohama, Ltd. | 152,550 | 762,861 | ||||||
The Chiba Bank, Ltd. | 148,550 | 917,394 | ||||||
The Chugoku Electric Power Co., Inc. | 9,000 | 125,756 | ||||||
The Dai-ichi Life Insurance Co., Ltd. | 29,000 | 422,392 | ||||||
The Daisan Bank, Ltd. | 409,651 | 719,977 | ||||||
The Daishi Bank, Ltd. | 155,176 | 571,071 | ||||||
The Eighteenth Bank, Ltd. | 301,251 | 661,094 | ||||||
The Higo Bank, Ltd. | 136,550 | 729,257 | ||||||
The Hokkoku Bank, Ltd. (b) | 152,550 | 534,743 | ||||||
The Hyakugo Bank, Ltd. | 152,550 | 628,064 | ||||||
The Kansai Electric Power Co., Inc. (a) | 56,800 | 584,077 | ||||||
The Kiyo Bank, Ltd. | 33,800 | 433,885 | ||||||
The Musashino Bank, Ltd. | 15,255 | 506,599 | ||||||
The Nanto Bank, Ltd. | 150,550 | 568,665 | ||||||
The Ogaki Kyoritsu Bank, Ltd. | 152,550 | 417,722 | ||||||
The San-In Godo Bank, Ltd. | 135,550 | 918,715 | ||||||
The Shiga Bank, Ltd. | 137,550 | 747,954 | ||||||
The Shikoku Bank, Ltd. (b) | 300,101 | 617,774 | ||||||
The Toho Bank, Ltd. | 278,101 | 907,335 | ||||||
The Tohoku Bank, Ltd. | 123,000 | 185,124 | ||||||
The Tokyo Electric Power Co., Inc. (a) | 61,375 | 247,920 | ||||||
The Yamagata Bank, Ltd. | 139,176 | 593,273 | ||||||
The Yamanashi Chuo Bank, Ltd. | 133,550 | 604,305 | ||||||
THK Co., Ltd. | 5,400 | 121,491 | ||||||
Tohoku Electric Power Co., Inc. | 47,900 | 494,884 | ||||||
Tokio Marine Holdings, Inc. | 45,765 | 1,376,705 | ||||||
Tokyo Dome Corp. | 62,000 | 319,076 | ||||||
Tokyo Electron, Ltd. | 11,755 | 721,953 | ||||||
Tokyo Gas Co., Ltd. | 154,475 | 785,987 | ||||||
Tokyo Tatemono Co., Ltd. | 16,000 | 137,496 | ||||||
Tokyu Corp. | 139,550 | 855,038 | ||||||
Tokyu Fudosan Holdings Corp. | 19,600 | 146,546 | ||||||
Toray Industries, Inc. (b) | 134,550 | 891,034 | ||||||
Toshiba Corp. | 262,513 | 1,113,931 | ||||||
TOTO, Ltd. (b) | 8,000 | 111,162 | ||||||
Toyo Suisan Kaisha, Ltd. | 3,000 | 100,354 | ||||||
Toyo Tire & Rubber Co., Ltd. | 13,000 | 92,276 | ||||||
Toyota Industries Corp. | 2,300 | 110,773 | ||||||
Toyota Motor Corp. | 148,988 | 8,428,452 | ||||||
Toyota Tsusho Corp. | 6,600 | 167,908 | ||||||
Trend Micro, Inc. | 4,500 | 139,608 | ||||||
Unicharm Corp. | 5,700 | 305,133 | ||||||
Unihair Co., Ltd. | 18,700 | 214,446 | ||||||
United Urban Investment Corp. | 55 | 80,963 | ||||||
Usen Corp. (a) | 35,130 | 110,522 | ||||||
USS Co., Ltd. | 49,010 | 689,571 | ||||||
ValueCommerce Co., Ltd. (b) | 4,400 | 43,878 | ||||||
Warabeya Nichiyo Co., Ltd. | 15,500 | 293,489 | ||||||
Yahoo! Japan Corp. | 51,500 | 253,037 | ||||||
Yakult Honsha Co., Ltd. (b) | 4,200 | 211,254 | ||||||
Yamada Denki Co., Ltd. (b) | 80,580 | 269,161 | ||||||
Yamaha Corp. | 11,100 | 143,243 | ||||||
Yamaha Motor Co., Ltd. | 12,200 | 194,873 | ||||||
Yamato Holdings Co., Ltd. | 16,100 | 347,686 | ||||||
Yaskawa Electric Corp. (b) | 11,000 | 152,420 | ||||||
Yokogawa Electric Corp. | 10,700 | 173,199 | ||||||
Zenrin Co., Ltd. (b) | 29,300 | 296,457 | ||||||
167,846,279 | ||||||||
LUXEMBOURG — 0.3% | ||||||||
ArcelorMittal | 37,882 | 610,606 | ||||||
COLT Telecom Group SA (a) | 59,591 | 146,835 | ||||||
Millicom International Cellular SA | 5,570 | 568,140 | ||||||
SES SA | 15,652 | 584,719 | ||||||
Tenaris SA | 17,393 | 383,790 | ||||||
2,294,090 | ||||||||
MACAU — 0.0% (d) | ||||||||
MGM China Holdings, Ltd. | 33,200 | 117,057 | ||||||
Wynn Macau, Ltd. | 51,200 | 212,535 | ||||||
329,592 | ||||||||
NETHERLANDS — 2.7% | ||||||||
Aegon NV | 123,293 | 1,132,234 | ||||||
AerCap Holdings NV (a) | 3,799 | 160,280 | ||||||
Airbus Group NV | 29,027 | 2,079,935 | ||||||
Akzo Nobel NV | 15,448 | 1,261,078 | ||||||
ASML Holding NV | 24,012 | 2,224,945 | ||||||
CNH Industrial NV (a) | 46,297 | 532,485 | ||||||
Constellium NV (Class A) (a) | 3,718 | 109,123 | ||||||
Fugro NV | 10,656 | 655,538 | ||||||
Gemalto NV (b) | 3,342 | 389,401 | ||||||
Heineken NV | 19,464 | 1,355,262 | ||||||
ING Groep NV (a) | 203,308 | 2,879,149 | ||||||
Koninklijke (Royal) KPN NV (a) | 212,674 | 751,847 | ||||||
Koninklijke Ahold NV | 69,421 | 1,395,005 | ||||||
Koninklijke DSM NV | 12,106 | 831,168 | ||||||
Koninklijke Philips NV | 55,694 | 1,957,770 | ||||||
NXP Semiconductor NV (a) | 9,766 | 574,338 | ||||||
OCI NV (a) | 1,846 | 83,795 | ||||||
PostNL NV (a) | 36,601 | 167,075 | ||||||
Randstad Holding NV | 2,926 | 171,412 | ||||||
Reed Elsevier NV | 11,072 | 239,353 | ||||||
SBM Offshore NV (a) | 19,333 | 352,123 | ||||||
TNT Express NV | 31,599 | 310,477 | ||||||
Unilever NV | 89,822 | 3,693,487 | ||||||
Wolters Kluwer NV | 31,260 | 882,362 | ||||||
24,189,642 | ||||||||
NEW ZEALAND — 0.2% | ||||||||
A2 Corp., Ltd. (a)(b) | 131,412 | 103,770 | ||||||
Air New Zealand, Ltd. | 58,238 | 103,346 | ||||||
Auckland International Airport, Ltd. (a) | 27,128 | 89,689 | ||||||
Calan Healthcare Properties Trust | 88,015 | 96,233 | ||||||
DNZ Property Fund, Ltd. | 71,093 | 94,696 | ||||||
Fisher & Paykel Healthcare Corp., Ltd. | 109,550 | 404,013 | ||||||
Fletcher Building, Ltd. | 16,522 | 136,488 | ||||||
Goodman Property Trust | 106,194 | 88,464 | ||||||
Infratil, Ltd. | 46,072 | 90,352 | ||||||
Kiwi Income Property Trust | 91,289 | 88,326 | ||||||
Property for Industry, Ltd. | 105,613 | 117,306 | ||||||
Steel & Tube Holdings, Ltd. | 68,807 | 182,107 | ||||||
Xero, Ltd. (a) | 4,984 | 170,183 | ||||||
1,764,973 | ||||||||
See accompanying notes to financial statements.
159
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
�� | ||||||||
Security Description | Shares | Value | ||||||
NORWAY — 0.8% | ||||||||
Aker Solutions ASA | 6,434 | $ | 100,211 | |||||
DnB NOR ASA | 67,810 | 1,179,048 | ||||||
DNO International ASA (a) | 36,999 | 141,209 | ||||||
Norsk Hydro ASA | 93,545 | 466,393 | ||||||
Opera Software ASA | 12,897 | 168,670 | ||||||
Orkla ASA | 89,629 | 764,243 | ||||||
REC Silicon ASA (a) | 140,038 | 91,315 | ||||||
Schibsted ASA | 3,236 | 200,850 | ||||||
Seadrill, Ltd. (b) | 9,084 | 320,752 | ||||||
StatoilHydro ASA | 63,241 | 1,785,141 | ||||||
Storebrand ASA (a) | 51,876 | 299,366 | ||||||
Telenor ASA | 47,538 | 1,053,656 | ||||||
TGS Nopec Geophysical Co. ASA (b) | 5,252 | 172,200 | ||||||
Yara International ASA (b) | 15,670 | 692,542 | ||||||
7,435,596 | ||||||||
PORTUGAL — 0.2% | ||||||||
Banco Comercial Portugues SA (a) | 766,906 | 239,936 | ||||||
Banco Espirito Santo SA (a) | 87,652 | 164,176 | ||||||
EDP — Energias de Portugal SA (b) | 159,337 | 740,292 | ||||||
Mota-Engil SGPS SA | 25,531 | 207,610 | ||||||
Portugal Telecom SGPS SA (b) | 78,385 | 333,501 | ||||||
ZON OPTIMUS SGPS SA | 59,582 | 468,078 | ||||||
2,153,593 | ||||||||
SINGAPORE — 1.4% | ||||||||
AIMS AMP Capital Industrial REIT | 134,000 | 142,786 | ||||||
Ascendas Hospitality Trust | 187,000 | 109,296 | ||||||
Ascendas REIT | 604,000 | 1,085,476 | ||||||
Cache Logistics Trust | 155,000 | 139,895 | ||||||
CapitaLand, Ltd. | 302,000 | 694,032 | ||||||
China New Town Development Co., Ltd. (a) | 1,843,000 | 152,417 | ||||||
City Developments, Ltd. (b) | 142,000 | 1,140,472 | ||||||
Cosco Corp. Singapore, Ltd. (b) | 615,000 | 349,668 | ||||||
Croesus Retail Trust | 272,000 | 191,420 | ||||||
DBS Group Holdings, Ltd. | 17,000 | 218,592 | ||||||
Flextronics International, Ltd. (a) | 63,635 | 587,987 | ||||||
Genting Singapore PLC | 612,400 | 650,116 | ||||||
Global Logistic Properties, Ltd. | 63,000 | 132,758 | ||||||
HanKore Environment Tech Group, Ltd (a)(b) | 1,223,000 | 133,236 | ||||||
IGG, Inc. (a) | 60,000 | 54,376 | ||||||
ISDN Holdings, Ltd. | 110,000 | 43,298 | ||||||
Jardine Cycle & Carriage, Ltd. | 3,000 | 108,139 | ||||||
Keppel Corp., Ltd. | 158,975 | 1,376,675 | ||||||
Keppel REIT (b) | 34,313 | 31,106 | ||||||
Lippo Malls Indonesia Retail Trust | 907,000 | 288,497 | ||||||
Oxley Holdings, Ltd. | 181,000 | 98,592 | ||||||
Saizen REIT | 334,000 | 236,380 | ||||||
SembCorp Industries, Ltd. | 291,000 | 1,270,399 | ||||||
Singapore Airlines, Ltd. | 19,000 | 158,189 | ||||||
Singapore Exchange, Ltd. | 151,000 | 833,319 | ||||||
Singapore Telecommunications, Ltd. | 157,000 | 455,688 | ||||||
Sino Grandness Food Industry Group, Ltd. (a)(b) | 215,000 | 117,113 | ||||||
Soilbuild Business Space REIT | 215,000 | 133,355 | ||||||
Tiger Airways Holdings, Ltd. (a) | 335,000 | 107,888 | ||||||
United Overseas Bank, Ltd. | 20,000 | 344,320 | ||||||
UOL Group, Ltd. | 176,000 | 876,116 | ||||||
Wilmar International, Ltd. | 150,000 | 412,707 | ||||||
12,674,308 | ||||||||
SOUTH KOREA — 3.9% | ||||||||
Amorepacific Corp. | 130 | 153,882 | ||||||
Asiana Airlines, Inc. (a) | 37,470 | 177,414 | ||||||
Bioland, Ltd. | 14,109 | 182,253 | ||||||
BS Financial Group, Inc. | 10,650 | 150,578 | ||||||
Celltrion, Inc. (a)(b) | 3,756 | 155,258 | ||||||
Cellumed Co., Ltd. (a) | 56,626 | 104,799 | ||||||
CJ CGV Co., Ltd. | 5,603 | 273,715 | ||||||
Cosmochemical Co., Ltd. (a)(b) | 14,160 | 101,233 | ||||||
Coway Co., Ltd. | 1,914 | 134,319 | ||||||
Credu Corp. | 7,708 | 348,306 | ||||||
Crown Confectionery Co., Ltd. | 742 | 230,731 | ||||||
Dae Han Flour Mills Co., Ltd. | 2,119 | 287,656 | ||||||
Daewoo Shipbuilding & Marine Engineering Co., Ltd. | 4,420 | 132,876 | ||||||
Digitech Systems Co., Ltd. (a)(c) | 19,094 | 38,028 | ||||||
Dongkuk Industries Co., Ltd. | 76,252 | 244,634 | ||||||
Dongwon F&B Co., Ltd. | 1,101 | 189,801 | ||||||
Dongwon Industries Co., Ltd. | 1,230 | 374,391 | ||||||
Dongyang Mechatronics Corp. (b) | 18,610 | 179,203 | ||||||
E-Mart Co., Ltd. | 816 | 187,049 | ||||||
GameHi Co., Ltd. (a) | 29,757 | 229,233 | ||||||
Genic Co., Ltd. (a) | 6,670 | 126,263 | ||||||
Glovis Co., Ltd. | 728 | 165,167 | ||||||
GS Home Shopping, Inc. | 1,100 | 244,915 | ||||||
Haansoft, Inc. | 8,861 | 194,793 | ||||||
Haesung Industrial Co., Ltd. | 3,376 | 181,415 | ||||||
Hana Financial Group, Inc. | 12,430 | 454,251 | ||||||
Hana Tour Service, Inc. | 3,821 | 264,557 | ||||||
Hankook Shell Oil Co., Ltd. | 448 | 195,286 | ||||||
Hankook Tire Co., Ltd. | 2,024 | 114,848 | ||||||
Hanssem Co., Ltd. | 3,918 | 257,654 | ||||||
Harim Co., Ltd. (a) | 33,207 | 193,418 | ||||||
Hotel Shilla Co., Ltd. | 4,562 | 369,006 | ||||||
Huons Co., Ltd. | 4,500 | 171,215 | ||||||
Hyundai Elevator Co., Ltd. (a) | 2,510 | 106,347 | ||||||
Hyundai Engineering Plastics Co., Ltd. (b) | 53,340 | 350,773 | ||||||
Hyundai Heavy Industries Co., Ltd. | 1,922 | 380,987 | ||||||
Hyundai Hy Communications & Networks Co., Ltd. | 52,680 | 257,845 | ||||||
Hyundai Mobis | 2,886 | 854,047 | ||||||
Hyundai Securities Co., Ltd. (a) | 58,820 | 356,970 | ||||||
Hyundai Steel Co. | 2,506 | 161,974 | ||||||
INFINITT Co., Ltd. (a) | 18,142 | 134,133 | ||||||
Infraware, Inc. (a) | 12,482 | 102,018 | ||||||
Interpark Corp. | 11,863 | 135,966 | ||||||
JoyCity Corp. (a) | 4,209 | 102,017 | ||||||
Kangwon Land, Inc. | 4,370 | 127,268 | ||||||
KB Financial Group, Inc. | 16,150 | 565,163 | ||||||
KCC Corp. | 203 | 103,936 | ||||||
Kia Motors Corp. | 10,522 | 586,176 | ||||||
KIWOOM Securities Co., Ltd. | 8,348 | 418,792 | ||||||
Koh Young Technology, Inc. (b) | 14,326 | 288,014 | ||||||
Korea Electric Power Corp. ADR (b) | 34,962 | 600,298 | ||||||
Korea Zinc Co., Ltd. | 730 | 226,657 |
See accompanying notes to financial statements.
160
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Korean Air Lines Co., Ltd. (a) | 2,780 | $ | 100,680 | |||||
KT Corp. ADR (a)(b) | 32,851 | 456,300 | ||||||
KT&G Corp. | 5,129 | 385,476 | ||||||
Ktis Corp. | 29,920 | 137,731 | ||||||
KyungDong City Gas Co., Ltd. | 1,924 | 197,018 | ||||||
LG Chem, Ltd. | 1,021 | 243,632 | ||||||
LG Chem, Ltd. Preference Shares | 903 | 125,976 | ||||||
LG Display Co., Ltd. ADR (a)(b) | 45,668 | 570,850 | ||||||
LG Electronics, Inc. | 6,013 | 366,615 | ||||||
LG Household & Health Care, Ltd. | 475 | 205,047 | ||||||
LG Uplus Corp. | 11,130 | 109,266 | ||||||
Lotte Chemical Corp. | 663 | 117,097 | ||||||
Lotte Samkang Co., Ltd. | 461 | 342,139 | ||||||
Lotte Shopping Co., Ltd. | 268 | 84,344 | ||||||
Medy-Tox, Inc. | 848 | 115,117 | ||||||
Modetour Network, Inc. | 12,945 | 297,342 | ||||||
Muhak Co., Ltd. (a) | 10,987 | 241,529 | ||||||
NAVER Corp. | 1,523 | 1,107,428 | ||||||
NCSoft Corp. | 793 | 162,407 | ||||||
NHN Entertainment Corp. (a) | 480 | 43,290 | ||||||
OCI Co., Ltd. (a) | 734 | 122,397 | ||||||
ORION Corp. | 149 | 114,642 | ||||||
Ottogi Corp. | 368 | 129,299 | ||||||
POSCO ADR | 22,641 | 1,571,512 | ||||||
S1 Corp. | 1,822 | 152,340 | ||||||
Sajo Industries Co., Ltd. (a)(b) | 7,286 | 217,666 | ||||||
Samchuly Bicycle Co., Ltd. | 7,537 | 127,098 | ||||||
Samsung C&T Corp. | 4,423 | 256,376 | ||||||
Samsung Electronics Co., Ltd. GDR | 13,669 | 8,597,801 | ||||||
Samsung Engineering Co., Ltd. (a) | 1,521 | 102,453 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 1,332 | 299,698 | ||||||
Samsung Heavy Industries Co., Ltd. | 7,260 | 217,231 | ||||||
Samsung Life Insurance Co., Ltd. | 3,895 | 367,746 | ||||||
Samsung SDI Co., Ltd. | 1,481 | 224,004 | ||||||
Samyoung Chemical Co., Ltd. (a) | 123,210 | 265,067 | ||||||
Shine Co., Ltd. (a) | 21,671 | 274,845 | ||||||
Shinhan Financial Group Co., Ltd. | 20,060 | 885,734 | ||||||
Shinsegae Food Co., Ltd. (b) | 3,199 | 257,254 | ||||||
SK C&C Co., Ltd. | 779 | 109,409 | ||||||
SK Hynix, Inc. (a) | 24,660 | 834,008 | ||||||
SK Innovation Co., Ltd. | 5,768 | 661,089 | ||||||
SK Telecom Co., Ltd. ADR (b) | 27,383 | 618,034 | ||||||
SNU Precision Co., Ltd. (a) | 13,211 | 99,661 | ||||||
Woori Finance Holdings Co., Ltd. (a) | 9,980 | 113,446 | ||||||
Woori Financial Co., Ltd. | 5,450 | 111,360 | ||||||
Youlchon Chemical Co., Ltd. | 11,120 | 155,656 | ||||||
34,962,638 | ||||||||
SPAIN — 2.8% | ||||||||
Abengoa SA | 15,943 | 89,256 | ||||||
Abertis Infraestructuras SA | 19,766 | 451,544 | ||||||
Acciona SA | 3,784 | 327,729 | ||||||
Acerinox SA (b) | 29,665 | 476,728 | ||||||
ACS, Actividades de Construccion y Servicios SA | 18,348 | 721,091 | ||||||
Amadeus IT Holding SA | 13,345 | 554,541 | ||||||
Atresmedia Corp. de Medios de Comunicaion SA (a) | 10,660 | 164,111 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 216,022 | 2,595,630 | ||||||
Banco de Sabadell SA | 164,550 | 508,465 | ||||||
Banco Popular Espanol SA | 84,254 | 636,354 | ||||||
Banco Santander SA | 439,387 | 4,191,253 | ||||||
Bankia SA (a) | 139,424 | 294,391 | ||||||
Bankinter SA | 38,281 | 308,123 | ||||||
Criteria Caixacorp SA | 44,829 | 288,539 | ||||||
Distribuidora Internacional de Alimentacion SA | 35,807 | 327,296 | ||||||
Ebro Puleva SA | 4,817 | 111,469 | ||||||
Enagas SA | 35,767 | 1,088,206 | ||||||
Faes Farma SA | 103,874 | 357,195 | ||||||
Ferrovial SA | 46,764 | 1,013,515 | ||||||
Gamesa Corp. Tecnologica SA (a) | 27,906 | 303,076 | ||||||
Gas Natural SDG SA | 4,354 | 122,478 | ||||||
Gestevision Telecinco SA (a)(b) | 44,682 | 520,684 | ||||||
Grifols SA | 9,563 | 524,243 | ||||||
Iberdrola SA | 285,055 | 1,994,243 | ||||||
Indra Sistemas SA | 23,324 | 468,854 | ||||||
Industria de Diseno Textil SA | 7,331 | 1,100,320 | ||||||
International Consolidated Airlines Group SA (a) | 31,483 | 218,975 | ||||||
Let’s GOWEX SA | 4,019 | 137,815 | ||||||
NH Hoteles SA (a) | 39,678 | 282,181 | ||||||
Red Electrica Corporacion SA | 13,737 | 1,117,048 | ||||||
Repsol YPF SA | 54,525 | 1,392,136 | ||||||
Sacyr SA (a) | 22,778 | 151,318 | ||||||
Telefonica SA | 157,797 | 2,497,800 | ||||||
Zeltia SA (a) | 49,277 | 180,996 | ||||||
25,517,603 | ||||||||
SWEDEN — 2.9% | ||||||||
AddTech AB | 9,152 | 143,628 | ||||||
Alfa Laval AB | 38,857 | 1,049,404 | ||||||
Assa Abloy AB (Class B) | 27,319 | 1,452,002 | ||||||
Atlas Copco AB (Class B) | 78,681 | 2,150,407 | ||||||
Axis Communications AB (b) | 2,737 | 93,547 | ||||||
Bilia AB (Class A) | 3,506 | 112,206 | ||||||
BillerudKorsnas AB | 8,272 | 114,188 | ||||||
Boliden AB | 35,106 | 532,799 | ||||||
CDON Group AB (a)(b) | 36,087 | 130,243 | ||||||
Concentric AB | 7,714 | 107,080 | ||||||
Electrolux AB (b) | 22,531 | 490,684 | ||||||
Elekta AB (Class B) (b) | 12,178 | 162,003 | ||||||
Eniro AB (a) | 14,815 | 132,531 | ||||||
Getinge AB (Class B) | 4,140 | 115,767 | ||||||
Hennes & Mauritz AB (Class B) | 47,581 | 2,025,489 | ||||||
Hexagon AB, (Class B) | 9,412 | 319,223 | ||||||
Hexpol AB | 1,439 | 126,620 | ||||||
Investor AB | 17,330 | 625,998 | ||||||
JM AB | 3,855 | 126,289 | ||||||
Kinnevik Investment AB (Class B) | 15,055 | 554,965 | ||||||
KNOW IT AB | 17,862 | 180,451 | ||||||
Lagercrantz AB (Class B) | 7,925 | 155,235 | ||||||
Lundin Petroleum AB (a) | 10,635 | 218,325 | ||||||
Meda AB (Class A) | 10,211 | 156,625 | ||||||
Net Entertainment NE AB (Class B) (a) | 11,054 | 262,559 | ||||||
Nibe Industrier AB (Class B) | 3,839 | 98,587 | ||||||
Nordea Bank AB | 117,067 | 1,657,541 | ||||||
Opus Group AB | 62,153 | 105,449 |
See accompanying notes to financial statements.
161
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Orexo AB (a)(b) | 5,149 | $ | 104,234 | |||||
Saab AB | 4,644 | 141,536 | ||||||
Sandvik AB | 71,817 | 1,012,974 | ||||||
Scania AB (Class B) | 20,358 | 597,218 | ||||||
Securitas AB (Class B) | 64,022 | 740,096 | ||||||
Skandinaviska Enskilda Banken AB (Class A) (b) | 44,962 | 616,155 | ||||||
Skanska AB (Class B) | 54,257 | 1,276,182 | ||||||
SKF AB (Class A) | 12,240 | 313,195 | ||||||
Svenska Cellulosa AB (Class B) | 22,995 | 675,640 | ||||||
Svenska Handelsbanken AB (Class A) (b) | 9,639 | 482,875 | ||||||
Swedbank AB (Class A) | 29,544 | 791,510 | ||||||
Swedish Match AB | 7,371 | 240,450 | ||||||
Swedish Orphan Biovitrum AB (a) | 10,292 | 112,547 | ||||||
Tele2 AB | 36,408 | 450,920 | ||||||
Telefonaktiebolaget LM Ericsson (Class B) | 176,208 | 2,342,718 | ||||||
TeliaSonera AB | 118,245 | 889,999 | ||||||
Tethys Oil AB (a) | 14,384 | 168,054 | ||||||
Volvo AB (Class A) | 104,958 | 1,688,445 | ||||||
26,044,593 | ||||||||
SWITZERLAND — 7.7% | ||||||||
ABB, Ltd. (a) | 126,941 | 3,276,453 | ||||||
Actelion, Ltd. (a) | 5,010 | 474,712 | ||||||
Adecco SA (a) | 13,981 | 1,164,094 | ||||||
Aryzta AG (a) | 1,764 | 155,961 | ||||||
Cie Financiere Richemont SA | 19,491 | 1,862,275 | ||||||
Clariant AG (a) | 44,009 | 855,917 | ||||||
Coca-Cola HBC AG (a) | 8,109 | 201,973 | ||||||
Comet Holding AG (a) | 220 | 134,986 | ||||||
Credit Suisse Group AG (a) | 59,376 | 1,921,730 | ||||||
Geberit AG | 4,307 | 1,411,532 | ||||||
Givaudan SA (a) | 207 | 320,336 | ||||||
Glencore Xstrata PLC | 475,285 | 2,446,843 | ||||||
Holcim, Ltd. (a) | 16,542 | 1,370,775 | ||||||
Julius Baer Group, Ltd. (a) | 15,364 | 682,323 | ||||||
Kuehne & Nagel International AG | 5,630 | 788,398 | ||||||
Leonteq AG (a) | 1,083 | 224,851 | ||||||
Lindt & Spruengli AG | 2 | 117,847 | ||||||
Logitech International SA | 7,850 | 117,303 | ||||||
Lonza Group AG (a) | 6,978 | 712,138 | ||||||
Meyer Burger Technology AG (a) | 5,816 | 94,481 | ||||||
Nestle SA | 157,740 | 11,883,848 | ||||||
Nobel Biocare Holding AG (a)(b) | 19,717 | 283,473 | ||||||
Novartis AG | 137,339 | 11,660,638 | ||||||
Partners Group Holding AG | 507 | 142,570 | ||||||
PSP Swiss Property AG (a) | 12,110 | 1,139,232 | ||||||
Roche Holding AG | 36,820 | 11,045,792 | ||||||
SGS SA | 546 | 1,346,843 | ||||||
Sonova Holding AG (a) | 716 | 104,723 | ||||||
STMicroelectronics NV | 38,102 | 352,894 | ||||||
Sulzer AG | 3,924 | 539,725 | ||||||
Swiss Life Holding AG (a) | 3,960 | 972,797 | ||||||
Swiss Re AG (a) | 8,202 | 760,915 | ||||||
Syngenta AG | 5,422 | 2,051,933 | ||||||
Temenos Group AG | 4,507 | 158,677 | ||||||
The Swatch Group AG | 2,743 | 1,720,294 | ||||||
U-Blox AG (a) | 856 | 117,641 | ||||||
UBS AG (a) | 183,626 | 3,795,790 | ||||||
Zurich Insurance Group AG (a) | 7,923 | 2,434,258 | ||||||
68,846,971 | ||||||||
UNITED KINGDOM — 17.3% | ||||||||
3i Group PLC | 96,599 | 640,798 | ||||||
Aberdeen Asset Management PLC | 52,155 | 339,367 | ||||||
Afren PLC (a) | 61,591 | 144,986 | ||||||
Aggreko PLC | 10,610 | 265,504 | ||||||
AMEC PLC | 42,451 | 794,064 | ||||||
Anglo American PLC | 72,334 | 1,840,831 | ||||||
Antofagasta PLC | 15,967 | 222,405 | ||||||
ARM Holdings PLC | 60,250 | 1,002,449 | ||||||
Ashtead Group PLC | 20,403 | 323,481 | ||||||
Associated British Foods PLC | 12,693 | 588,491 | ||||||
AstraZeneca PLC | 63,162 | 4,081,975 | ||||||
Aviva PLC | 157,756 | 1,254,524 | ||||||
Avon Rubber PLC | 21,370 | 220,353 | ||||||
Babcock International Group PLC | 7,613 | 170,961 | ||||||
BAE Systems PLC | 203,571 | 1,405,726 | ||||||
Balfour Beatty PLC | 124,963 | 624,163 | ||||||
Barclays PLC | 771,092 | 3,000,418 | ||||||
Barratt Developments PLC | 74,907 | 515,135 | ||||||
BBA Aviation PLC | 24,861 | 137,521 | ||||||
Bellway PLC | 4,729 | 130,874 | ||||||
Berkeley Group Holdings PLC | 4,931 | 215,383 | ||||||
BG Group PLC | 170,043 | 3,167,970 | ||||||
BHP Billiton PLC | 116,606 | 3,584,731 | ||||||
Big Yellow Group PLC | 12,962 | 118,096 | ||||||
BP PLC | 933,892 | 7,473,303 | ||||||
British American Tobacco PLC | 90,575 | 5,036,676 | ||||||
British Land Co. PLC | 79,259 | 864,174 | ||||||
British Sky Broadcasting Group PLC | 61,593 | 937,512 | ||||||
Britvic PLC | 10,046 | 124,272 | ||||||
BT Group PLC | 439,123 | 2,778,259 | ||||||
BTG PLC (a) | 17,589 | 159,080 | ||||||
Bunzl PLC | 6,764 | 179,975 | ||||||
Burberry Group PLC | 25,541 | 594,001 | ||||||
Cable & Wireless Communications PLC | 210,405 | 184,509 | ||||||
Cairn Energy PLC (a) | 20,363 | 56,660 | ||||||
Capita Group PLC | 43,372 | 792,492 | ||||||
Carnival PLC | 14,778 | 562,712 | ||||||
Carphone Warehouse Group PLC | 15,201 | 82,337 | ||||||
Centamin PLC (a) | 105,841 | 89,462 | ||||||
Centrica PLC | 281,542 | 1,547,522 | ||||||
Cobham PLC | 38,751 | 193,165 | ||||||
Compass Group PLC | 122,364 | 1,866,592 | ||||||
Croda International PLC | 3,500 | 148,560 | ||||||
CSR PLC | 8,941 | 108,143 | ||||||
Daily Mail & General Trust PLC (b) | 10,557 | 152,945 | ||||||
Darty PLC | 41,572 | 81,435 | ||||||
Diageo PLC | 126,382 | 3,921,085 | ||||||
Direct Line Insurance Group PLC | 72,660 | 287,696 | ||||||
Dixons Retail PLC (a) | 136,158 | 111,682 | ||||||
Drax Group PLC | 17,869 | 228,194 | ||||||
DS Smith PLC | 25,669 | 138,867 | ||||||
easyJet PLC | 11,682 | 334,007 | ||||||
Experian PLC | 51,575 | 929,479 | ||||||
FirstGroup PLC (a) | 160,953 | 391,498 |
See accompanying notes to financial statements.
162
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Foxtons Group PLC (a) | 16,946 | $ | 101,564 | |||||
Fresnillo PLC (b) | 9,188 | 129,205 | ||||||
G4S PLC | 168,678 | 679,126 | ||||||
GKN PLC | 34,162 | 222,288 | ||||||
GlaxoSmithKline PLC | 247,183 | 6,558,431 | ||||||
Hammerson PLC | 34,527 | 318,892 | ||||||
Hansteen Holdings PLC | 61,590 | 112,126 | ||||||
Hargreaves Lansdown PLC | 9,143 | 222,239 | ||||||
Hays PLC | 285,404 | 689,926 | ||||||
Henderson Group PLC | 50,246 | 220,560 | ||||||
Hikma Pharmaceuticals PLC | 6,485 | 179,578 | ||||||
Homeserve PLC | 20,063 | 105,361 | ||||||
Howden Joinery Group PLC | 27,641 | 171,470 | ||||||
HSBC Holdings PLC | 919,796 | 9,315,636 | ||||||
ICAP PLC | 74,276 | 467,579 | ||||||
IMI PLC | 10,750 | 261,301 | ||||||
Imperial Tobacco Group PLC | 56,478 | 2,281,432 | ||||||
Informa PLC | 106,803 | 941,029 | ||||||
Inmarsat PLC | 14,268 | 172,812 | ||||||
Intercontinental Hotels Group PLC | 30,979 | 995,231 | ||||||
International Personal Finance PLC | 15,583 | 133,014 | ||||||
Intertek Group PLC | 7,788 | 398,861 | ||||||
IP Group PLC (a) | 32,161 | 111,417 | ||||||
ITV PLC | 114,492 | 365,526 | ||||||
J Sainsbury PLC (b) | 113,756 | 599,478 | ||||||
Jazztel PLC (a) | 11,432 | 173,948 | ||||||
John Wood Group PLC | 16,448 | 210,321 | ||||||
Johnson Matthey PLC | 5,299 | 288,968 | ||||||
Keller Group PLC | 4,672 | 83,653 | ||||||
Kingfisher PLC | 180,770 | 1,269,976 | ||||||
Land Securities Group PLC | 60,739 | 1,033,875 | ||||||
Legal & General Group PLC | 412,462 | 1,407,591 | ||||||
Lloyds Banking Group PLC (a) | 2,282,576 | 2,840,729 | ||||||
London Stock Exchange Group PLC | 8,405 | 276,044 | ||||||
Lonmin PLC (a) | 15,643 | 74,587 | ||||||
Man Group PLC | 127,214 | 214,630 | ||||||
Marks & Spencer Group PLC | 115,921 | 872,559 | ||||||
Meggitt PLC | 28,323 | 226,603 | ||||||
Mondi PLC | 33,661 | 588,677 | ||||||
Mucklow A & J Group PLC | 10,604 | 78,846 | ||||||
National Grid PLC | 234,211 | 3,209,622 | ||||||
Next PLC | 9,876 | 1,086,675 | ||||||
Ocado Group PLC (a) | 18,425 | 141,484 | ||||||
Old Mutual PLC | 347,864 | 1,166,262 | ||||||
Ophir Energy PLC (a) | 27,322 | 109,320 | ||||||
Pace PLC | 16,192 | 121,637 | ||||||
Pearson PLC | 55,054 | 975,656 | ||||||
Persimmon PLC (a) | 24,511 | 550,023 | ||||||
Petrofac, Ltd. | 11,015 | 264,069 | ||||||
Provident Financial PLC | 3,057 | 101,063 | ||||||
Prudential PLC | 143,812 | 3,041,307 | ||||||
Randgold Resources, Ltd. | 7,840 | 588,432 | ||||||
Reckitt Benckiser Group PLC | 37,994 | 3,095,509 | ||||||
Reed Elsevier PLC | 56,445 | 861,977 | ||||||
Rentokil Initial PLC | 320,607 | 657,435 | ||||||
Resolution, Ltd. | 106,874 | 532,387 | ||||||
Rexam PLC | 38,247 | 310,401 | ||||||
Rightmove PLC | 4,736 | 208,287 | ||||||
Rio Tinto PLC | 64,884 | 3,610,219 | ||||||
Rolls-Royce Holdings PLC (a) | 99,289 | 1,777,789 | ||||||
Royal Bank of Scotland Group PLC (a) | 109,055 | 565,432 | ||||||
Royal Dutch Shell PLC (Class A) | 206,060 | 7,526,807 | ||||||
Royal Dutch Shell PLC (Class B) | 110,248 | 4,301,838 | ||||||
Royal Mail PLC (a) | 21,120 | 198,234 | ||||||
RSA Insurance Group PLC | 247,970 | 370,203 | ||||||
SABMiller PLC | 51,430 | 2,567,959 | ||||||
Scottish & Southern Energy PLC | 58,445 | 1,431,344 | ||||||
Serco Group PLC | 41,755 | 293,066 | ||||||
Severn Trent PLC | 5,815 | 176,730 | ||||||
Shire PLC | 32,111 | 1,576,572 | ||||||
Smith & Nephew PLC | 87,577 | 1,327,176 | ||||||
Smiths Group PLC | 45,432 | 963,438 | ||||||
Sports Direct International PLC (a) | 7,244 | 102,895 | ||||||
Standard Chartered PLC | 97,778 | 2,043,338 | ||||||
Standard Life PLC | 190,832 | 1,201,000 | ||||||
TalkTalk Telecom Group PLC | 20,066 | 107,150 | ||||||
Tate & Lyle PLC | 42,018 | 467,586 | ||||||
Taylor Wimpey PLC | 113,634 | 223,166 | ||||||
Telecom Plus PLC | 2,897 | 86,404 | ||||||
Tesco PLC | 438,174 | 2,157,902 | ||||||
The Sage Group PLC | 114,386 | 797,311 | ||||||
The Weir Group PLC | 5,120 | 216,468 | ||||||
Thomas Cook Group PLC (a) | 49,460 | 148,670 | ||||||
Travis Perkins PLC | 7,363 | 231,388 | ||||||
Trinity Mirror PLC (a) | 21,792 | 70,118 | ||||||
Tullow Oil PLC | 57,018 | 711,506 | ||||||
Unilever PLC | 67,659 | 2,888,749 | ||||||
United Utilities Group PLC | 9,252 | 121,545 | ||||||
Victrex PLC | 4,389 | 147,001 | ||||||
Vodafone Group PLC | 1,326,978 | 4,873,634 | ||||||
Whitbread PLC | 4,391 | 304,677 | ||||||
William Hill PLC | 66,388 | 377,415 | ||||||
William Morrison Supermarkets PLC | 181,943 | 646,085 | ||||||
Wolseley PLC | 16,760 | 953,082 | ||||||
Workspace Group PLC | 10,889 | 107,560 | ||||||
WPP PLC | 91,702 | 1,891,138 | ||||||
Xaar PLC | 8,197 | 128,184 | ||||||
155,253,914 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $780,784,176) | 890,885,262 | |||||||
PREFERRED STOCKS — 0.3% | ||||||||
SOUTH KOREA — 0.3% | ||||||||
Hyundai Motor Co., Ltd. (Cost $1,122,545) | 15,759 | 2,250,334 | ||||||
RIGHTS — 0.0% (d) | ||||||||
HONG KONG — 0.0% (d) | ||||||||
New World Development Co., Ltd. (expiring 4/17/14) (a) | 190,627 | 39,319 | ||||||
ITALY — 0.0% (d) | ||||||||
Banco Popolare Societa Cooperativa (expiring 4/17/14) (a) | 11,974 | 101,990 | ||||||
PORTUGAL — 0.0% (d) | ||||||||
Mota — Engil SGPS SA (expiring 12/31/49) (a)(c) | 77,731 | 42,853 | ||||||
See accompanying notes to financial statements.
163
SPDR S&P World ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
SPAIN — 0.0% (d) | ||||||||
Banco Bilbao Vizcaya Argentaria SA (expiring 4/14/14) (a) | 216,022 | $ | 50,614 | |||||
UNITED KINGDOM — 0.0% (d) | ||||||||
RSA Insurance Group PLC (expiring 4/9/14) (a) | 92,989 | 51,934 | ||||||
TOTAL RIGHTS — | ||||||||
(Cost $97,005) | 286,710 | |||||||
SHORT TERM INVESTMENTS — 5.4% | ||||||||
UNITED STATES — 5.4% | ||||||||
MONEY MARKET FUNDS — 5.4% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 47,414,913 | 47,414,913 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 1,287,842 | 1,287,842 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $48,702,755) | 48,702,755 | |||||||
TOTAL INVESTMENTS — 104.8% | ||||||||
(Cost $830,706,481) | 942,125,061 | |||||||
OTHER ASSETS & LIABILITIES — (4.8)% | (43,176,786 | ) | ||||||
NET ASSETS — 100.0% | $ | 898,948,275 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs (Note 2). | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PLC = Public Limited Company
REIT = Real Estate Investment Trust
SCA = Societe en Commandite par Actions
See accompanying notes to financial statements.
164
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.3% | ||||||||
AUSTRALIA — 6.9% | ||||||||
Acrux, Ltd. | 58,620 | $ | 93,451 | |||||
Adelaide Brighton, Ltd. | 446,165 | 1,658,248 | ||||||
Ainsworth Game Technology, Ltd. | 17,300 | 58,366 | ||||||
ALE Property Group | 20,437 | 54,932 | ||||||
Amcom Telecommunications, Ltd. | 64,409 | 124,171 | ||||||
Antares Energy, Ltd. (a) | 167,430 | 72,936 | ||||||
APN News & Media, Ltd. (a) | 173,825 | 95,860 | ||||||
ARB Corp., Ltd. | 16,675 | 186,081 | ||||||
Aristocrat Leisure, Ltd. | 208,835 | 1,041,346 | ||||||
Arrium, Ltd. | 677,358 | 847,543 | ||||||
Aspen Group | 36,576 | 41,698 | ||||||
Astro Japan Property Group | 34,314 | 119,265 | ||||||
Atlas Iron, Ltd. (b) | 478,166 | 432,109 | ||||||
Aurora Oil & Gas, Ltd. (a) | 260,717 | 990,747 | ||||||
Ausdrill, Ltd. | 61,273 | 45,433 | ||||||
Ausenco, Ltd. | 146,145 | 77,209 | ||||||
Austal, Ltd. (a) | 74,659 | 67,468 | ||||||
Austbrokers Holdings, Ltd. | 6,803 | 64,945 | ||||||
Australand Property Group | 76,657 | 299,829 | ||||||
Australian Industrial REIT | 42,840 | 79,015 | ||||||
Australian Pharmaceutical Industries, Ltd. | 75,718 | 39,651 | ||||||
Automotive Holdings Group, Ltd. | 13,804 | 49,770 | ||||||
Aveo Group (b) | 191,463 | 358,464 | ||||||
AWE, Ltd. (a) | 898,733 | 1,261,981 | ||||||
Base Resources, Ltd. (a) | 154,189 | 60,022 | ||||||
BC Iron, Ltd. | 26,282 | 115,464 | ||||||
Beach Energy, Ltd. | 1,221,950 | 1,931,023 | ||||||
Beadell Resources, Ltd. (a) | 425,194 | 238,425 | ||||||
Bega Cheese, Ltd. | 58,508 | 285,240 | ||||||
Billabong International, Ltd. (a) | 149,256 | 71,936 | ||||||
Blackmores, Ltd. | 3,814 | 92,264 | ||||||
Boart Longyear Group (a)(b) | 282,861 | 76,029 | ||||||
Bradken, Ltd. (b) | 94,145 | 380,446 | ||||||
Breville Group, Ltd. | 26,829 | 237,226 | ||||||
Buru Energy, Ltd. (a) | 90,301 | 106,712 | ||||||
BWP Trust | 41,215 | 89,006 | ||||||
Cabcharge Australia, Ltd. | 13,909 | 52,211 | ||||||
Cardno, Ltd. (b) | 35,861 | 239,312 | ||||||
carsales.com, Ltd. | 54,448 | �� | 547,547 | |||||
Central Petroleum, Ltd. (a) | 163,969 | 83,586 | ||||||
Challenger Diversified Property Group | 28,518 | 67,930 | ||||||
Charter Hall Group | 51,577 | 190,739 | ||||||
Charter Hall Retail REIT | 218,030 | 723,451 | ||||||
Coalspur Mines, Ltd. (a)(b) | 275,306 | 51,033 | ||||||
Collins Foods, Ltd. | 34,925 | 64,740 | ||||||
Cooper Energy, Ltd. (a) | 135,904 | 67,390 | ||||||
Corporate Travel Management, Ltd. | 18,704 | 110,082 | ||||||
Cover-More Group, Ltd. (a) | 46,427 | 89,935 | ||||||
Credit Corp. Group, Ltd. | 9,008 | 71,802 | ||||||
Cromwell Property Group (b) | 301,278 | 268,070 | ||||||
Crowe Horwath Australasia, Ltd. | 739,044 | 232,894 | ||||||
CSG, Ltd. | 88,847 | 75,348 | ||||||
CSR, Ltd. | 327,230 | 1,064,559 | ||||||
Cudeco, Ltd. (a) | 28,122 | 44,310 | ||||||
Dart Energy, Ltd. (a) | 386,214 | 39,376 | ||||||
Data#3, Ltd. | 58,498 | 36,056 | ||||||
David Jones, Ltd. (b) | 300,534 | 905,287 | ||||||
Decmil Group, Ltd. | 34,588 | 66,360 | ||||||
Domino’s Pizza Enterprises, Ltd. | 22,134 | 410,298 | ||||||
Downer EDI, Ltd. | 238,902 | 1,111,560 | ||||||
Drillsearch Energy, Ltd. (a) | 154,332 | 238,881 | ||||||
DuluxGroup, Ltd. | 213,045 | 1,131,450 | ||||||
Echo Entertainment Group, Ltd. | 218,491 | 496,146 | ||||||
Emeco Holdings, Ltd. (a) | 265,690 | 61,564 | ||||||
Energy Resources of Australia, Ltd. (a) | 54,710 | 67,695 | ||||||
Energy World Corp., Ltd. (a) | 570,635 | 171,890 | ||||||
Envestra, Ltd. | 69,701 | 72,678 | ||||||
ERM Power, Ltd. | 39,948 | 91,083 | ||||||
Evolution Mining, Ltd. | 282,341 | 225,052 | ||||||
Fairfax Media, Ltd. (b) | 1,070,981 | 908,265 | ||||||
Fleetwood Corp., Ltd. (b) | 180,577 | 423,441 | ||||||
FlexiGroup, Ltd. | 39,673 | 132,375 | ||||||
G8 Education, Ltd. | 98,830 | 464,415 | ||||||
GDI Property Group (a) | 221,568 | 182,771 | ||||||
Goodman Fielder, Ltd. | 1,746,304 | 995,416 | ||||||
Greencross, Ltd. | 22,150 | 168,344 | ||||||
Greenland Minerals & Energy, Ltd. (a) | 170,272 | 29,985 | ||||||
GWA International, Ltd. | 56,715 | 153,494 | ||||||
Hills Industries, Ltd. | 70,636 | 111,297 | ||||||
Horizon Oil, Ltd. (a) | 453,350 | 130,258 | ||||||
Hotel Property Investments, Ltd. (a) | 85,196 | 157,138 | ||||||
Icon Energy, Ltd. (a) | 205,969 | 29,590 | ||||||
iiNET, Ltd. | 39,732 | 272,878 | ||||||
Imdex, Ltd. | 83,293 | 50,952 | ||||||
Independence Group NL | 136,011 | 492,902 | ||||||
Indophil Resources NL (a) | 274,751 | 40,744 | ||||||
Industria REIT (a) | 101,035 | 171,837 | ||||||
Infigen Energy (a)(b) | 977,392 | 181,179 | ||||||
Ingenia Communities Group | 333,882 | 156,277 | ||||||
Intrepid Mines, Ltd. (a) | 210,384 | 53,623 | ||||||
Investa Office Fund | 379,733 | 1,140,336 | ||||||
Invocare, Ltd. (b) | 305,637 | 3,065,087 | ||||||
IOOF Holdings, Ltd. | 348,898 | 2,861,879 | ||||||
iProperty Group, Ltd. (a) | 58,240 | 170,036 | ||||||
Iress, Ltd. | 15,450 | 122,864 | ||||||
iSelect, Ltd. (a) | 40,073 | 42,342 | ||||||
JB Hi-Fi, Ltd. (b) | 83,202 | 1,445,921 | ||||||
Karoon Gas Australia, Ltd. (a) | 131,280 | 311,493 | ||||||
Kingsgate Consolidated, Ltd. (a) | 116,119 | 107,625 | ||||||
Lynas Corp., Ltd. (a)(b) | 816,898 | 159,000 | ||||||
M2 Group, Ltd. (b) | 28,932 | 160,894 | ||||||
MACA, Ltd. | 30,310 | 61,804 | ||||||
Macquarie Atlas Roads Group | 114,319 | 313,631 | ||||||
Macquarie Leisure Trust Group | 89,232 | 206,762 | ||||||
Maverick Drilling & Exploration, Ltd. (a) | 196,213 | 59,105 | ||||||
Mayne Pharma Group, Ltd. (a) | 262,072 | 229,542 | ||||||
McMillan Shakespeare, Ltd. | 19,023 | 174,552 | ||||||
Medusa Mining, Ltd. (a)(b) | 103,923 | 200,348 | ||||||
Melbourne IT, Ltd. | 53,872 | 69,155 | ||||||
Mermaid Marine Australia, Ltd. | 107,925 | 236,072 | ||||||
Mesoblast, Ltd. (a)(b) | 117,965 | 598,067 | ||||||
Metals X, Ltd. (a) | 412,083 | 76,388 | ||||||
Mincor Resources NL | 75,239 | 46,025 | ||||||
Mineral Deposits, Ltd. (a) | 33,036 | 66,444 |
See accompanying notes to financial statements.
165
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Mineral Resources, Ltd. | 84,593 | $ | 900,090 | |||||
Monadelphous Group, Ltd. (b) | 73,556 | 1,146,028 | ||||||
Mount Gibson Iron, Ltd. | 537,290 | 453,168 | ||||||
Myer Holdings, Ltd. (b) | 320,504 | 662,442 | ||||||
New South Resources, Ltd. (a) | 161,721 | 167,129 | ||||||
Newsat, Ltd. (a) | 250,458 | 95,176 | ||||||
NEXTDC, Ltd. (a) | 63,517 | 116,564 | ||||||
NIB Holdings, Ltd. | 56,805 | 147,419 | ||||||
Nine Entertainment Co., Holdings, Ltd. (a) | 80,613 | 174,836 | ||||||
Northern Star Resources, Ltd. | 209,274 | 219,181 | ||||||
NRW Holdings, Ltd. | 53,217 | 52,284 | ||||||
Nufarm, Ltd. | 123,470 | 455,464 | ||||||
Oakton, Ltd. | 264,181 | 367,284 | ||||||
Orocobre, Ltd. (a) | 48,222 | 100,563 | ||||||
OZ Minerals, Ltd. (b) | 115,218 | 380,172 | ||||||
Ozforex Group, Ltd. (a) | 66,824 | 204,388 | ||||||
Pacific Brands, Ltd. | 1,232,020 | 605,206 | ||||||
Pact Group Holdings, Ltd. (a) | 13,931 | 44,417 | ||||||
Paladin Energy, Ltd. (a)(b) | 550,096 | 237,083 | ||||||
PanAust, Ltd. | 266,444 | 388,952 | ||||||
Papillon Resources, Ltd. (a) | 133,984 | 164,543 | ||||||
Peet, Ltd. (a) | 37,457 | 49,298 | ||||||
Perpetual, Ltd. | 23,089 | 1,070,002 | ||||||
Perseus Mining, Ltd. (a) | 287,240 | 115,809 | ||||||
Platinum Australia, Ltd. (a)(c) | 610,876 | 0 | ||||||
Premier Investments, Ltd. | 13,406 | 122,390 | ||||||
Programmed Maintenance Services, Ltd. | 239,347 | 643,333 | ||||||
Qube Holdings, Ltd. | 104,726 | 216,456 | ||||||
RCR Tomlinson, Ltd. | 51,275 | 132,593 | ||||||
Red Fork Energy, Ltd. (a) | 248,722 | 24,205 | ||||||
Regis Resources, Ltd. | 152,084 | 319,977 | ||||||
Resolute Mining, Ltd. (a) | 370,500 | 204,322 | ||||||
Ridley Corp., Ltd. (a) | 55,506 | 42,700 | ||||||
Roc Oil Co., Ltd. (a) | 1,051,687 | 453,262 | ||||||
SAI Global, Ltd. (b) | 405,539 | 1,541,083 | ||||||
Sandfire Resources NL (a) | 7,581 | 41,034 | ||||||
Saracen Mineral Holdings, Ltd. (a) | 277,858 | 86,273 | ||||||
Select Harvests, Ltd. | 30,705 | 186,975 | ||||||
Senex Energy, Ltd. (a) | 613,443 | 426,427 | ||||||
Seven West Media, Ltd. | 290,769 | 533,609 | ||||||
SFG Australia, Ltd. | 94,422 | 62,136 | ||||||
Shopping Centres Australasia Property Group | 88,839 | 136,685 | ||||||
Sigma Pharmaceuticals, Ltd. | 1,825,772 | 1,125,324 | ||||||
Silex Systems, Ltd. (a) | 44,156 | 85,945 | ||||||
Silver Chef, Ltd. | 10,128 | 47,030 | ||||||
Silver Lake Resources, Ltd. (a) | 148,842 | 59,320 | ||||||
Sims Metal Management, Ltd. (a) | 86,744 | 789,515 | ||||||
Sino Gas & Energy Holdings, Ltd. (a) | 668,508 | 99,137 | ||||||
Sirius Resources NL (a) | 71,212 | 160,387 | ||||||
Sirtex Medical, Ltd. | 21,017 | 302,324 | ||||||
Skilled Group, Ltd. | 37,691 | 96,418 | ||||||
Slater & Gordon, Ltd. | 42,634 | 180,585 | ||||||
Southern Cross Media Group, Ltd. | 473,564 | 601,324 | ||||||
St Barbara, Ltd. (a) | 306,659 | 78,162 | ||||||
Starpharma Holdings, Ltd. (a) | 141,986 | 100,016 | ||||||
STW Communications Group, Ltd. | 819,990 | 1,064,011 | ||||||
Sundance Energy Australia, Ltd. (a) | 197,444 | 175,681 | ||||||
Sundance Resources, Ltd. (a) | 1,296,787 | 115,385 | ||||||
Sunland Group, Ltd. | 29,521 | 46,378 | ||||||
Syrah Resources, Ltd. (a) | 42,883 | 151,830 | ||||||
Tap Oil, Ltd. (a) | 81,314 | 28,262 | ||||||
Tassal Group, Ltd. | 43,323 | 155,396 | ||||||
Technology One, Ltd. | 21,763 | 46,192 | ||||||
Ten Network Holdings, Ltd. (a) | 515,106 | 131,292 | ||||||
Tiger Resources, Ltd. (a) | 266,539 | 90,170 | ||||||
Tox Free Solutions, Ltd. | 32,797 | 102,137 | ||||||
Transfield Services, Ltd. (a) | 334,742 | 259,063 | ||||||
Transpacific Industries Group, Ltd. (a) | 307,844 | 326,697 | ||||||
Troy Resources, Ltd. (a) | 60,083 | 58,472 | ||||||
UGL, Ltd. (b) | 81,143 | 527,956 | ||||||
UXC, Ltd. | 76,005 | 60,231 | ||||||
Veda Group, Ltd. (a) | 20,595 | 45,621 | ||||||
Village Roadshow, Ltd. | 7,897 | 51,016 | ||||||
Virgin Australia Holdings, Ltd. (a) | 535,619 | 183,682 | ||||||
Virtus Health, Ltd. | 17,291 | 116,670 | ||||||
Vocation, Ltd. (a) | 33,442 | 81,209 | ||||||
Western Areas NL | 118,351 | 364,183 | ||||||
Whitehaven Coal, Ltd. (a)(b) | 216,645 | 332,320 | ||||||
Wotif.com Holdings, Ltd. (b) | 30,986 | 76,106 | ||||||
60,053,584 | ||||||||
AUSTRIA — 0.7% | ||||||||
AMS AG | 5,497 | 771,640 | ||||||
Atrium European Real Estate, Ltd. | 107,299 | 605,588 | ||||||
BWT AG (b) | 36,180 | 762,936 | ||||||
CA Immobilien Anlagen AG (a) | 8,356 | 151,041 | ||||||
Conwert Immobilien Invest SE | 7,154 | 94,755 | ||||||
Flughafen Wien AG | 546 | 54,106 | ||||||
RHI AG (b) | 1,796 | 57,811 | ||||||
Schoeller-Bleckmann Oilfield Equipment AG | 15,051 | 1,760,754 | ||||||
Wienerberger AG (b) | 70,996 | 1,360,118 | ||||||
Zumtobel AG | 3,449 | 85,564 | ||||||
5,704,313 | ||||||||
BELGIUM — 1.1% | ||||||||
Aedifica SA | 694 | 47,787 | ||||||
AGFA-Gevaert NV (a) | 206,972 | 701,737 | ||||||
Arseus NV | 2,541 | 136,898 | ||||||
Barco NV | 23,833 | 1,908,458 | ||||||
Befimmo SA | 855 | 60,641 | ||||||
Bekaert NV | 19,534 | 796,644 | ||||||
Cofinimmo | 1,836 | 218,860 | ||||||
Euronav NV (a) | 15,448 | 181,188 | ||||||
EVS Broadcast Equipment SA | 16,250 | 1,053,310 | ||||||
KBC Ancora (a) | 30,915 | 1,187,075 | ||||||
Mobistar SA | 22,804 | 429,957 | ||||||
Nyrstar (a)(b) | 85,913 | 319,706 | ||||||
RHJ International (a) | 144,321 | 726,023 | ||||||
Tessenderlo Chemie NV (b) | 45,614 | 1,313,930 | ||||||
ThromboGenics NV (a)(b) | 17,032 | 481,694 | ||||||
Viohalco SA (a) | 20,470 | 132,882 | ||||||
9,696,790 | ||||||||
BERMUDA — 0.2% | ||||||||
Global Sources, Ltd. (a)(b) | 9,333 | 83,624 |
See accompanying notes to financial statements.
166
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Golden Ocean Group, Ltd. | 297,058 | $ | 587,958 | |||||
Ship Finance International, Ltd. (b) | 35,877 | 644,710 | ||||||
SmarTone Telecommunications Holding, Ltd. (b) | 105,249 | 117,229 | ||||||
Trinity, Ltd. (b) | 640,000 | 166,661 | ||||||
1,600,182 | ||||||||
BRITISH VIRGIN ISLANDS — 0.0% (d) | ||||||||
NAM TAI Electronics, Inc. (b) | 5,700 | 33,573 | ||||||
CANADA — 10.5% | ||||||||
5N Plus, Inc. (a) | 27,300 | 94,483 | ||||||
Advantage Oil & Gas, Ltd. (a) | 139,472 | 689,936 | ||||||
Aecon Group, Inc. | 11,948 | 186,297 | ||||||
AGF Management, Ltd. (Class B) (b) | 11,938 | 138,551 | ||||||
Air Canada (Class A) (a) | 65,223 | 326,780 | ||||||
Alacer Gold Corp. | 120,850 | 306,573 | ||||||
Alaris Royalty Corp. (b) | 4,773 | 129,298 | ||||||
Alexco Resource Corp. (a) | 18,698 | 28,121 | ||||||
Algonquin Power & Utilities Corp. (b) | 86,318 | 609,994 | ||||||
Alliance Grain Traders, Inc. | 2,100 | 33,410 | ||||||
Allied Properties Real Estate Investment Trust | 8,276 | 258,684 | ||||||
Altius Minerals Corp. (a) | 3,481 | 46,424 | ||||||
Altus Group, Ltd. | 9,902 | 161,931 | ||||||
Amaya Gaming Group, Inc. (a) | 22,915 | 154,670 | ||||||
Argonaut Gold, Inc. (a) | 70,436 | 307,589 | ||||||
Artek Exploration, Ltd. (a) | 17,807 | 65,501 | ||||||
Artis REIT | 17,822 | 253,989 | ||||||
Asanko Gold, Inc. (a)(b) | 56,983 | 118,741 | ||||||
Atlantic Power Corp. (b) | 63,865 | 185,158 | ||||||
ATS Automation Tooling Systems, Inc. (a) | 17,495 | 227,455 | ||||||
Augusta Resource Corp. (a) | 45,300 | 140,774 | ||||||
AuRico Gold, Inc. (b) | 180,114 | 786,545 | ||||||
AutoCanada, Inc. | 1,933 | 107,705 | ||||||
Avigilon Corp. (a) | 13,547 | 350,903 | ||||||
B2Gold Corp. (a) | 318,697 | 866,221 | ||||||
Badger Daylighting, Ltd. (b) | 14,809 | 557,476 | ||||||
Bankers Petroleum, Ltd. (a)(b) | 159,356 | 776,748 | ||||||
Banro Corp. (a) | 129,556 | 62,210 | ||||||
Bauer Performance Sports, Ltd. (a) | 8,095 | 104,071 | ||||||
Bellatrix Exploration, Ltd. (a) | 78,132 | 661,866 | ||||||
Birchcliff Energy, Ltd. (a)(b) | 66,121 | 658,964 | ||||||
Black Diamond Group, Ltd. (b) | 10,641 | 330,196 | ||||||
BlackPearl Resources, Inc. (a)(b) | 176,133 | 419,687 | ||||||
BNK Petroleum, Inc. (a) | 63,755 | 117,835 | ||||||
Bonterra Energy Corp. (b) | 2,768 | 134,319 | ||||||
BRP, Inc. (a) | 7,917 | 207,653 | ||||||
Calfrac Well Services, Ltd. (b) | 21,553 | 686,962 | ||||||
Canaccord Genuity Group, Inc. | 4,800 | 35,660 | ||||||
Canacol Energy, Ltd. (a) | 42,543 | 269,037 | ||||||
Canadian Energy Services & Technology Corp. (b) | 20,564 | 534,152 | ||||||
Canadian Solar, Inc. (a) | 17,892 | 573,260 | ||||||
Canam Group, Inc. | 3,932 | 49,125 | ||||||
CanElson Drilling, Inc. | 7,490 | 48,927 | ||||||
Canexus Corp. (b) | 66,294 | 300,913 | ||||||
CanWel Building Materials Group, Ltd. | 9,063 | 23,484 | ||||||
Canyon Services Group, Inc. | 13,327 | 165,297 | ||||||
Capital Power Corp. (b) | 32,357 | 753,995 | ||||||
Capstone Infrastructure Corp. | 23,300 | 84,862 | ||||||
Capstone Mining Corp. (a) | 217,222 | 574,667 | ||||||
Caracal Energy, Inc. (a) | 42,334 | 244,903 | ||||||
Cardinal Energy, Ltd. | 14,346 | 196,522 | ||||||
Cathedral Energy Services, Ltd. | 10,833 | 41,418 | ||||||
CCL Industries, Inc. | 10,610 | 910,513 | ||||||
Celestica, Inc. (a) | 114,539 | 1,255,648 | ||||||
Centerra Gold, Inc. | 78,625 | 366,857 | ||||||
Cequence Energy, Ltd. (a) | 63,340 | 146,909 | ||||||
Chartwell Retirement Residences | 13,258 | 125,043 | ||||||
China Gold International Resources Corp., Ltd. (a) | 131,078 | 326,582 | ||||||
Cogeco Cable, Inc. | 9,053 | 470,387 | ||||||
Colabor Group, Inc. | 11,048 | 40,038 | ||||||
Colossus Minerals, Inc. (a)(b) | 78,238 | 7,667 | ||||||
Continental Gold, Ltd. (a) | 59,696 | 206,604 | ||||||
Copper Mountain Mining Corp. (a)(b) | 72,815 | 141,837 | ||||||
Corus Entertainment, Inc. (Class B) (b) | 153,095 | 3,385,775 | ||||||
Cott Corp. | 79,011 | 671,459 | ||||||
Crew Energy, Inc. (a) | 72,429 | 576,807 | ||||||
Crocotta Energy, Inc. (a) | 14,858 | 45,634 | ||||||
Davis & Henderson Corp. (b) | 33,795 | 946,719 | ||||||
DeeThree Exploration, Ltd. (a) | 27,485 | 236,066 | ||||||
Delphi Energy Corp. (a) | 69,671 | 169,167 | ||||||
Denison Mines Corp. (a)(b) | 290,562 | 429,097 | ||||||
Detour Gold Corp. (a) | 72,811 | 631,304 | ||||||
DHX Media, Ltd. | 28,621 | 117,207 | ||||||
DIRTT Environmental Solutions (a) | 16,318 | 46,274 | ||||||
Dominion Diamond Corp. (a) | 48,058 | 646,579 | ||||||
Dorel Industries, Inc. | 15,493 | 519,217 | ||||||
Dream Unlimited Corp. (Class A) (a) | 86,415 | 1,184,561 | ||||||
Dundee Corp. (Class A) (a) | 98,140 | 1,403,080 | ||||||
Dundee Precious Metals, Inc. (a) | 61,357 | 221,802 | ||||||
Eagle Energy Trust | 11,276 | 72,841 | ||||||
Element Financial Corp. (a) | 60,186 | 811,932 | ||||||
Enbridge Income Fund Holdings, Inc. | 3,940 | 94,596 | ||||||
Endeavour Mining Corp. (a) | 239,477 | 171,404 | ||||||
Endeavour Silver Corp. (a) | 64,334 | 278,028 | ||||||
Enerflex, Ltd. | 9,433 | 150,415 | ||||||
Entertainment One, Ltd. (a) | 41,832 | 230,143 | ||||||
Epsilon Energy, Ltd. (a) | 10,628 | 34,375 | ||||||
Equitable Group, Inc. | 819 | 42,918 | ||||||
Essential Energy Services Trust (a) | 40,912 | 101,191 | ||||||
Exchange Income Corp. | 13,353 | 248,369 | ||||||
First Majestic Silver Corp. (a) | 54,068 | 522,188 | ||||||
FirstService Corp. | 58,045 | 2,760,917 | ||||||
Fortuna Silver Mines, Inc. (a) | 80,044 | 295,157 | ||||||
Freehold Royalties, Ltd. (b) | 91,396 | 1,927,700 | ||||||
Gabriel Resources, Ltd. (a) | 109,934 | 89,640 | ||||||
Gasfrac Energy Services, Inc. (a) | 24,848 | 42,548 | ||||||
Gear Energy, Ltd. (a) | 32,622 | 125,316 | ||||||
Gluskin Sheff + Associates, Inc. | 2,600 | 75,214 | ||||||
GMP Capital, Inc. (b) | 106,908 | 719,662 | ||||||
Golden Star Resources, Ltd. (a) | 299,372 | 176,301 | ||||||
Gran Tierra Energy, Inc. (a) | 159,479 | 1,199,253 | ||||||
Granite Real Estate Investment Trust | 25,821 | 951,195 |
See accompanying notes to financial statements.
167
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Great Basin Gold, Ltd. (a)(c)(e) | 266,255 | $ | 0 | |||||
Great Canadian Gaming Corp. (a) | 59,676 | 772,071 | ||||||
Great Panther Silver, Ltd. (a) | 41,605 | 41,841 | ||||||
Guardian Capital Group, Ltd. (Class A) | 222,300 | 3,176,146 | ||||||
Guyana Goldfields, Inc. (a) | 45,500 | 100,997 | ||||||
HealthLease Properties REIT | 18,336 | 166,955 | ||||||
Heroux-Devtek, Inc. (a) | 2,291 | 23,745 | ||||||
High Liner Foods, Inc. | 1,937 | 80,604 | ||||||
HNZ Group, Inc. | 3,381 | 67,176 | ||||||
Home Capital Group, Inc. (b) | 23,163 | 937,013 | ||||||
Horizon North Logistics, Inc. | 77,786 | 589,165 | ||||||
HudBay Minerals, Inc. (b) | 96,418 | 753,873 | ||||||
Hudson’s Bay Co. | 23,874 | 391,501 | ||||||
Imax Corp. (a) | 27,752 | 759,581 | ||||||
Innergex Renewable Energy, Inc. (b) | 60,222 | 543,976 | ||||||
International Forest Products, Ltd. (Class A) (a) | 17,760 | 264,851 | ||||||
InterRent Real Estate Investment Trust | 8,557 | 43,725 | ||||||
Intertape Polymer Group, Inc. (b) | 19,430 | 218,989 | ||||||
Ithaca Energy, Inc. (a) | 167,308 | 416,849 | ||||||
Ivanhoe Mines, Ltd. (a) | 139,304 | 217,081 | ||||||
Just Energy Group, Inc. (b) | 83,062 | 669,011 | ||||||
Kelt Exploration, Ltd. (a) | 29,614 | 344,770 | ||||||
Kirkland Lake Gold, Inc. (a)(b) | 44,382 | 135,508 | ||||||
KP Tissue, Inc. | 6,848 | 100,137 | ||||||
Labrador Iron Ore Royalty Corp. (b) | 5,977 | 162,780 | ||||||
Lake Shore Gold Corp. (a)(b) | 260,038 | 171,984 | ||||||
Laurentian Bank of Canada | 3,582 | 153,243 | ||||||
Legacy Oil + Gas, Inc. (a) | 79,573 | 524,118 | ||||||
Lightstream Resources, Ltd. (b) | 67,274 | 342,541 | ||||||
Linamar Corp. | 20,214 | 934,010 | ||||||
Long Run Exploration, Ltd. (b) | 15,494 | 74,399 | ||||||
Longview Oil Corp. | 15,593 | 77,559 | ||||||
Lucara Diamond Corp. (a) | 118,458 | 193,182 | ||||||
Lydian International, Ltd. (a) | 50,092 | 45,383 | ||||||
MAG Silver Corp. (a) | 54,629 | 379,619 | ||||||
Major Drilling Group International, Inc. (b) | 104,996 | 814,284 | ||||||
Maple Leaf Foods, Inc. (b) | 45,348 | 723,514 | ||||||
Martinrea International, Inc. | 71,208 | 643,211 | ||||||
Medical Facilities Corp. | 4,673 | 86,114 | ||||||
MEGA Brands, Inc. (a)(b) | 9,079 | 145,675 | ||||||
Mood Media Corp. (a) | 60,443 | 41,071 | ||||||
Mullen Group, Ltd. (b) | 44,848 | 1,127,549 | ||||||
Neptune Technologies & Bioressources, Inc. (a)(b) | 27,558 | 68,344 | ||||||
Nevsun Resources, Ltd. (b) | 113,805 | 385,622 | ||||||
Newalta Corp. | 6,110 | 111,488 | ||||||
Niko Resources, Ltd. (a)(b) | 33,829 | 65,896 | ||||||
Norbord, Inc. | 5,776 | 152,439 | ||||||
Nordion, Inc. (a) | 9,700 | 111,962 | ||||||
North American Palladium, Ltd. (a) | 95,700 | 46,820 | ||||||
Northern Dynasty Minerals, Ltd. (a)(b) | 59,918 | 59,172 | ||||||
Northland Power, Inc. (b) | 38,580 | 608,192 | ||||||
Novagold Resources, Inc. (a)(b) | 121,898 | 445,073 | ||||||
NuVista Energy, Ltd. (a) | 107,520 | 933,220 | ||||||
Nymox Pharmaceutical Corp. (a) | 5,239 | 28,605 | ||||||
OceanaGold Corp. (a) | 167,856 | 355,862 | ||||||
Painted Pony Petroleum, Ltd. (a) | 29,889 | 242,091 | ||||||
Pan American Silver Corp. | 69,007 | 888,416 | ||||||
Parex Resources, Inc. (a) | 36,494 | 314,105 | ||||||
Parkland Fuel Corp. (b) | 47,629 | 921,726 | ||||||
Pason Systems, Inc. (b) | 43,040 | 1,090,282 | ||||||
Perpetual Energy, Inc. (a) | 50,800 | 64,895 | ||||||
PHX Energy Services Corp. | 6,427 | 77,037 | ||||||
Platinum Group Metals, Ltd. (a) | 101,646 | 102,222 | ||||||
Poseidon Concepts Corp. (a)(c) | 43,064 | 0 | ||||||
Premier Gold Mines, Ltd. (a)(b) | 100,472 | 172,043 | ||||||
Pretium Resources, Inc. (a)(b) | 44,317 | 257,771 | ||||||
Primero Mining Corp. (a) | 39,358 | 285,624 | ||||||
Pulse Seismic, Inc. | 21,094 | 62,303 | ||||||
Pure Technologies, Ltd. | 10,693 | 64,715 | ||||||
QLT, Inc. | 13,991 | 77,790 | ||||||
Raging River Exploration, Inc. (a) | 53,425 | 430,788 | ||||||
Redknee Solutions, Inc. (a) | 33,786 | 168,968 | ||||||
Regal Lifestyle Communities, Inc. | 9,133 | 62,969 | ||||||
Retrocom Real Estate Investment Trust | 10,336 | 44,106 | ||||||
Richelieu Hardware, Ltd. | 1,027 | 45,221 | ||||||
Rio Alto Mining, Ltd. (a) | 111,296 | 217,802 | ||||||
RMP Energy, Inc. (a) | 57,377 | 388,838 | ||||||
Rogers Sugar, Inc. | 10,062 | 42,208 | ||||||
Romarco Minerals, Inc. (a) | 319,667 | 202,733 | ||||||
RONA, Inc. | 59,799 | 611,670 | ||||||
Rubicon Minerals Corp. (a)(b) | 198,387 | 210,295 | ||||||
Russel Metals, Inc. (b) | 90,804 | 2,477,931 | ||||||
Sabina Gold & Silver Corp. (a)(b) | 86,753 | 61,307 | ||||||
Sandstorm Gold, Ltd. (a) | 40,533 | 227,683 | ||||||
Sandvine Corp. (a) | 28,800 | 81,410 | ||||||
Santonia Energy, Inc. (a) | 31,443 | 44,440 | ||||||
Savanna Energy Services Corp. (b) | 115,880 | 812,604 | ||||||
Seabridge Gold, Inc. (a)(b) | 24,903 | 177,113 | ||||||
Sears Canada, Inc. | 5,331 | 79,693 | ||||||
Secure Energy Services, Inc. (b) | 57,336 | 986,465 | ||||||
SEMAFO, Inc. | 145,700 | 514,818 | ||||||
Sherritt International Corp. (b) | 167,339 | 585,213 | ||||||
Sierra Wireless, Inc. (a)(b) | 11,300 | 246,936 | ||||||
Silver Standard Resources, Inc. (a) | 48,563 | 482,660 | ||||||
Silvercorp Metals, Inc. (b) | 108,738 | 212,796 | ||||||
Sirius XM Canada Holdings, Inc. | 11,900 | 93,259 | ||||||
Southern Pacific Resource Corp. (a)(b) | 318,772 | 95,307 | ||||||
Spyglass Resources Corp. | 43,371 | 71,515 | ||||||
Stantec, Inc. | 14,945 | 914,912 | ||||||
Stella-Jones, Inc. | 6,316 | 175,732 | ||||||
Strad Energy Services, Ltd. | 25,574 | 106,582 | ||||||
Sulliden Gold Corp., Ltd. (a) | 80,261 | 56,719 | ||||||
SunOpta, Inc. (a)(b) | 21,875 | 258,344 | ||||||
Sunshine Oilsands, Ltd. (a)(b) | 984,000 | 163,640 | ||||||
Superior Plus Corp. (b) | 62,506 | 689,760 | ||||||
Surge Energy, Inc. (b) | 61,639 | 342,889 | ||||||
TAG Oil, Ltd. (a) | 33,216 | 91,184 | ||||||
Tanzanian Royalty Exploration Corp. (a)(b) | 90,102 | 218,775 | ||||||
Taseko Mines, Ltd. (a) | 27,700 | 54,961 | ||||||
Teranga Gold Corp. (a) | 87,100 | 67,076 | ||||||
The Churchill Corp. (Class A) | 5,700 | 57,581 |
See accompanying notes to financial statements.
168
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
The Descartes Systems Group, Inc. (a) | 7,056 | $ | 98,768 | |||||
The North West Co., Inc. (b) | 30,149 | 669,765 | ||||||
Thompson Creek Metals Co., Inc. (a)(b) | 100,117 | 218,602 | ||||||
Timmins Gold Corp. (a) | 49,793 | 62,706 | ||||||
TORC Oil & Gas, Ltd. | 34,503 | 378,244 | ||||||
Torex Gold Resources, Inc. (a) | 320,954 | 311,140 | ||||||
Toromont Industries, Ltd. (b) | 14,944 | 345,523 | ||||||
Torstar Corp. (Class B) | 15,400 | 92,086 | ||||||
Total Energy Services, Inc. | 4,936 | 86,310 | ||||||
Transcontinental, Inc. (b) | 42,601 | 617,932 | ||||||
TransForce, Inc. (b) | 49,303 | 1,051,500 | ||||||
TransGlobe Energy Corp. (a) | 54,213 | 414,057 | ||||||
Trevali Mining Corp. (a) | 54,773 | 47,143 | ||||||
Trican Well Service, Ltd. | 78,098 | 989,890 | ||||||
Trinidad Drilling, Ltd. | 78,098 | 820,073 | ||||||
Twin Butte Energy, Ltd. (b) | 96,181 | 196,937 | ||||||
Uex Corp. (a) | 89,823 | 39,062 | ||||||
Uni-Select, Inc. | 89,658 | 2,428,787 | ||||||
Wajax Corp. (b) | 1,726 | 57,312 | ||||||
Western Energy Services Corp. | 10,880 | 98,573 | ||||||
Western Forest Products, Inc. | 35,697 | 77,943 | ||||||
Westport Innovations, Inc. (a)(b) | 25,140 | 365,341 | ||||||
Westshore Terminals Investment Corp. (b) | 31,736 | 951,721 | ||||||
Whitecap Resources, Inc. (b) | 70,427 | 787,379 | ||||||
Wi-Lan, Inc. (b) | 92,442 | 276,384 | ||||||
WSP Global, Inc. (b) | 3,354 | 108,574 | ||||||
Yellow Media, Ltd. (a) | 12,538 | 282,282 | ||||||
Zargon Oil & Gas, Ltd. | 12,200 | 97,268 | ||||||
91,835,799 | ||||||||
CHINA — 1.2% | ||||||||
Allied Properties HK, Ltd. | 5,038,791 | 935,389 | ||||||
Cafe de Coral Holdings, Ltd. | 835,867 | 2,526,873 | ||||||
China Sandi Holdings, Ltd. (a) | 103 | 7 | ||||||
Chow Sang Sang Holding International, Ltd. | 264,939 | 627,079 | ||||||
Dah Sing Banking Group, Ltd. | 36,000 | 56,805 | ||||||
Daphne International Holdings, Ltd. (b) | 596,000 | 242,793 | ||||||
G-Resources Group, Ltd. (a) | 14,042,400 | 414,553 | ||||||
Greenland Hong Kong Holdings, Ltd. | 206,000 | 99,321 | ||||||
HKR International, Ltd. | 2,885,579 | 1,145,743 | ||||||
K Wah International Holdings, Ltd. (b) | 1,771,517 | 1,187,551 | ||||||
Midland Holdings, Ltd. | 837,790 | 447,135 | ||||||
Road King Infrastructure, Ltd. | 1,286,544 | 1,187,520 | ||||||
Shun Tak Holdings, Ltd. | 1,366,749 | 703,016 | ||||||
Texwinca Holdings, Ltd. (b) | 980,050 | 1,052,438 | ||||||
10,626,223 | ||||||||
DENMARK — 1.1% | ||||||||
ALK-Abello A/S | 1,625 | 196,488 | ||||||
Amagerbanken A/S (c) | 308,573 | 0 | ||||||
Auriga Industries A/S (Class B) (a) | 1,174 | 41,611 | ||||||
Bang & Olufsen A/S (a)(b) | 35,614 | 417,480 | ||||||
Bavarian Nordic A/S (a) | 4,720 | 85,826 | ||||||
D/S Norden A/S | 15,895 | 677,819 | ||||||
East Asiatic Co., Ltd. A/S (a) | 38,650 | 627,875 | ||||||
Genmab A/S (a) | 29,781 | 1,211,142 | ||||||
IC Companys A/S | 28,571 | 859,715 | ||||||
Matas A/S (a) | 2,838 | 79,634 | ||||||
NKT Holding A/S (b) | 12,057 | 698,892 | ||||||
Rockwool International A/S (Class B) | 694 | 134,777 | ||||||
Royal UNIBREW | 2,600 | 432,933 | ||||||
SimCorp A/S | 69,352 | 2,816,585 | ||||||
Solar A/S (Class B) | 749 | 56,137 | ||||||
Spar Nord Bank A/S (a) | 6,202 | 68,695 | ||||||
Sydbank A/S (a) | 31,682 | 811,204 | ||||||
Vestas Wind Systems A/S (a) | 848 | 34,095 | ||||||
9,250,908 | ||||||||
FINLAND — 1.6% | ||||||||
Amer Sports Oyj (Class A) | 35,268 | 749,537 | ||||||
Caverion Corp. | 34,112 | 366,716 | ||||||
Citycon Oyj | 451,112 | 1,604,102 | ||||||
Cramo Oyj | 55,668 | 1,167,745 | ||||||
HKScan Oyj | 136,646 | 817,362 | ||||||
Konecranes Oyj (b) | 20,287 | 646,727 | ||||||
Lassila & Tikanoja Oyj | 82,662 | 1,651,969 | ||||||
Outokumpu Oyj (a)(b) | 2,192,844 | 554,589 | ||||||
Outokumpu Oyj (a)(b) | 1,973,942 | 524,801 | ||||||
PKC Group Oyj | 2,154 | 67,183 | ||||||
Poyry Oyj (a) | 93,242 | 542,572 | ||||||
Raisio PLC (Class V) (b) | 9,884 | 65,389 | ||||||
Ramirent Oyj (b) | 5,240 | 57,415 | ||||||
Rautaruukki Oyj (a) | 14,885 | 164,943 | ||||||
Sanoma Oyj | 11,789 | 82,216 | ||||||
Talvivaara Mining Co. PLC (a)(b) | 626,592 | 37,567 | ||||||
Tieto Oyj (b) | 76,699 | 1,971,498 | ||||||
Tikkurila Oyj | 2,680 | 63,162 | ||||||
Vacon Oyj (b) | 56,754 | 2,393,568 | ||||||
Valmet Corp. (b) | 12,552 | 134,679 | ||||||
YIT Oyj (b) | 19,852 | 211,501 | ||||||
13,875,241 | ||||||||
FRANCE — 2.1% | ||||||||
AB Science SA (a) | 4,755 | 83,427 | ||||||
Alten SA | 3,344 | 179,654 | ||||||
Altran Technologies SA (a) | 21,464 | 242,786 | ||||||
Beneteau SA (a) | 4,973 | 80,261 | ||||||
Carbone Lorraine SA | 36,490 | 1,232,665 | ||||||
Club Mediterranee SA (a) | 37,314 | 914,390 | ||||||
Criteo SA ADR (a) | 1,899 | 77,004 | ||||||
Etablissements Maurel et Prom | 44,681 | 687,866 | ||||||
FIGEAC-AERO (a) | 1,736 | 29,812 | ||||||
GameLoft SE (a)(b) | 16,381 | 173,392 | ||||||
GL Events SA | 34,939 | 795,515 | ||||||
Groupe Fnac (a) | 2,527 | 130,572 | ||||||
Groupe Steria SCA | 38,718 | 781,769 | ||||||
IPSOS | 37,178 | 1,509,035 | ||||||
Jacquet Metal Service | 42,925 | 930,608 | ||||||
Korian-Medica | 3,780 | 145,093 | ||||||
LISI | 248 | 40,914 | ||||||
Mercialys SA | 4,496 | 94,188 | ||||||
Montupet | 1,989 | 161,273 | ||||||
MPI | 30,889 | 202,221 | ||||||
Nexans SA | 5,656 | 296,575 | ||||||
PagesJaunes Groupe (a) | 89,762 | 230,109 | ||||||
Rallye SA | 2,958 | 138,206 |
See accompanying notes to financial statements.
169
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Rubis | 47,781 | $ | 3,440,879 | |||||
Saft Groupe SA | 41,796 | 1,461,447 | ||||||
Sequana (a)(c) | 5 | 0 | ||||||
Sequana SA (a)(b) | 13,650 | 126,988 | ||||||
Societe d’Edition de Canal + | 60,111 | 532,712 | ||||||
Societe de la Tour Eiffel | 17,972 | 1,233,789 | ||||||
SOITEC (a)(b) | 101,328 | 324,000 | ||||||
Technicolor SA (a) | 138,452 | 999,904 | ||||||
Trigano SA (a) | 1,609 | 44,130 | ||||||
UbiSoft Entertainment SA (a) | 67,329 | 1,206,350 | ||||||
Valneva SE (a) | 10,097 | 90,316 | ||||||
Virbac SA | 328 | 73,235 | ||||||
18,691,085 | ||||||||
GERMANY — 3.2% | ||||||||
Aareal Bank AG (a) | 25,699 | 1,130,772 | ||||||
Aixtron SE (a)(b) | 49,982 | 817,697 | ||||||
Alstria Office REIT-AG | 50,218 | 673,442 | ||||||
Aurelius AG | 4,842 | 184,255 | ||||||
BayWa AG | 2,422 | 137,781 | ||||||
Bechtle AG | 764 | 65,843 | ||||||
Bertrandt AG | 864 | 132,418 | ||||||
Biotest AG Preference Shares | 1,070 | 138,138 | ||||||
CANCOM SE | 3,844 | 182,516 | ||||||
Deutz AG (a) | 18,448 | 155,530 | ||||||
Dialog Semiconductor PLC (a)(b) | 39,400 | 973,653 | ||||||
DIC Asset AG | 80,381 | 743,700 | ||||||
DMG MORI SEIKI AG (b) | 49,005 | 1,501,777 | ||||||
Draegerwerk AG & Co. KGaA Preference Shares | 1,568 | 192,683 | ||||||
Drillisch AG | 49,020 | 1,779,578 | ||||||
Evotec AG (a)(b) | 18,403 | 97,981 | ||||||
Gerresheimer AG | 26,259 | 1,700,094 | ||||||
Hamburger Hafen und Logistik AG (b) | 2,640 | 63,475 | ||||||
Heidelberger Druckmaschinen AG (a)(b) | 74,596 | 229,682 | ||||||
Indus Holding AG | 64,322 | 2,834,197 | ||||||
Jenoptik AG | 132,380 | 2,402,902 | ||||||
Kloeckner & Co. SE (a)(b) | 60,316 | 889,912 | ||||||
Kontron AG | 70,600 | 483,700 | ||||||
KUKA AG (b) | 37,843 | 1,852,620 | ||||||
Leoni AG | 32,068 | 2,341,153 | ||||||
LPKF Laser & Electronics AG | 3,331 | 77,885 | ||||||
MLP AG | 68,981 | 458,252 | ||||||
Morphosys AG (a) | 11,210 | 1,039,797 | ||||||
Nordex SE (a) | 26,991 | 435,988 | ||||||
Norma Group SE | 7,312 | 387,641 | ||||||
Patrizia Immobilien AG (a) | 119,701 | 1,379,215 | ||||||
Pfeiffer Vacuum Technology AG | 942 | 115,121 | ||||||
QSC AG | 21,254 | 106,042 | ||||||
Rheinmetall AG | 21,277 | 1,497,042 | ||||||
Sartorius AG Preference Shares | 674 | 92,132 | ||||||
Singulus Technologies AG (a) | 10,645 | 36,238 | ||||||
SMA Solar Technology AG | 3,751 | 199,038 | ||||||
TAG Immobilien AG | 55,792 | 692,058 | ||||||
voxeljet AG ADR (a) | 1,903 | 47,898 | ||||||
28,269,846 | ||||||||
GIBRALTAR — 0.1% | ||||||||
Bwin.Party Digital Entertainment PLC (b) | 367,161 | 774,934 | ||||||
GREECE — 0.9% | ||||||||
Aegean Marine Petroleum Network, Inc. | 11,467 | 113,065 | ||||||
Diana Shipping, Inc. (a) | 83,652 | 1,002,988 | ||||||
DryShips, Inc. (a) | 243,066 | 785,103 | ||||||
Ellaktor SA (a) | 143,514 | 803,060 | ||||||
Eurobank Ergasias SA (a) | 237 | 158 | ||||||
Eurobank Properties Real Estate Investment Co. (a) | 4,446 | 55,762 | ||||||
Folli Follie SA (a) | 6,927 | 255,863 | ||||||
Fourlis Holdings SA (a) | 7,333 | 56,496 | ||||||
GEK Terna Holding Real Estate Construction SA (a) | 6,647 | 36,645 | ||||||
Hellenic Exchanges SA | 93,465 | 1,172,245 | ||||||
JUMBO SA (a) | 71,099 | 1,273,898 | ||||||
Marfin Investment Group SA (a) | 490,628 | 357,714 | ||||||
Motor Oil Hellas Corinth Refineries SA | 14,177 | 185,625 | ||||||
Navios Maritime Acquisition Corp. | 21,883 | 80,092 | ||||||
Navios Maritime Holdings, Inc. | 40,076 | 394,749 | ||||||
Safe Bulkers, Inc. | 10,248 | 97,561 | ||||||
StealthGas, Inc. (a) | 14,742 | 167,617 | ||||||
Terna Energy SA | 7,280 | 45,753 | ||||||
Titan Cement Co. SA (a) | 31,500 | 1,102,303 | ||||||
Tsakos Energy Navigation, Ltd. | 23,800 | 184,688 | ||||||
TT Hellenic Postbank SA (a)(c) | 129,076 | 0 | ||||||
8,171,385 | ||||||||
HONG KONG — 1.3% | ||||||||
APT Satellite Holdings, Ltd. | 98,500 | 116,315 | ||||||
Artel Solutions Group Holdings, Ltd. | 765,000 | 40,927 | ||||||
Beijing Properties Holdings, Ltd. (a) | 1,372,000 | 162,722 | ||||||
Beijing Tong Ren Tang Chinese Medicine Co., Ltd. (a) | 87,000 | 117,764 | ||||||
Bloomage Biotechnology Corp., Ltd. | 62,500 | 161,547 | ||||||
Brightoil Petroleum Holdings, Ltd. (a) | 926,000 | 290,082 | ||||||
Century Sunshine Group Holdings, Ltd. | 510,000 | 60,487 | ||||||
China Bio-Med Regeneration Technology, Ltd. (a) | 2,740,000 | 98,904 | ||||||
China Cord Blood Corp. (a) | 21,316 | 85,264 | ||||||
China Household Holdings, Ltd. (a) | 855,000 | 99,200 | ||||||
China Ocean Resources Co., Ltd. (a) | 26,330 | 93,996 | ||||||
China Resources and Transportation Group, Ltd. (a) | 5,100,000 | 269,561 | ||||||
China Ruifeng Renewable Energy, Ltd. (a) | 356,000 | 87,198 | ||||||
China Traditional Chinese Medicine Co., Ltd. (a) | 330,000 | 148,897 | ||||||
China Water Industry Group, Ltd. (a) | 496,000 | 98,470 | ||||||
CK Life Sciences International Holdings, Inc. | 582,000 | 60,023 | ||||||
Culturecom Holdings, Ltd. (a) | 375,000 | 51,244 | ||||||
Dah Sing Financial Holdings, Ltd. (b) | 32,400 | 152,455 | ||||||
Emperor Entertainment Hotel, Ltd. | 100,000 | 39,835 | ||||||
Emperor Watch & Jewellery, Ltd. (b) | 2,820,000 | 214,489 | ||||||
Enerchina Holdings, Ltd. (a) | 3,588,000 | 81,408 |
See accompanying notes to financial statements.
170
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
EverChina International Holdings Co., Ltd. (a) | 1,155,000 | $ | 61,048 | |||||
Extrawell Pharmaceutical Holdings, Ltd. (a) | 1,590,000 | 85,065 | ||||||
Fairwood Holdings, Ltd. | 22,000 | 44,470 | ||||||
Giordano International, Ltd. (b) | 1,454,000 | 937,212 | ||||||
Goldin Properties Holdings, Ltd. (a)(b) | 234,000 | 100,755 | ||||||
HC International, Inc. (a) | 168,000 | 430,989 | ||||||
Heng Tai Consumables Group, Ltd. (a) | 3,600,000 | 73,327 | ||||||
Heritage International Holdings, Ltd. (a) | 340,000 | 24,107 | ||||||
HKC Holdings, Ltd. (a) | 1,477,000 | 42,842 | ||||||
Honbridge Holdings, Ltd. (a) | 656,000 | 132,772 | ||||||
Hong Kong Television Network, Ltd. (a) | 132,000 | 39,479 | ||||||
Imagi International Holdings, Ltd. (a) | 6,072,000 | 68,101 | ||||||
Inspur International, Ltd. | 354,000 | 67,541 | ||||||
International Housewares Retail Co., Ltd. | 65,000 | �� | 33,434 | |||||
Kingston Financial Group, Ltd. | 522,000 | 52,489 | ||||||
Kingwell Group, Ltd. (a) | 608,000 | 38,406 | ||||||
L’sea Resources International Holdings, Ltd. (a) | 1,000,000 | 41,897 | ||||||
Le Saunda Holdings, Ltd. | 100,000 | 47,570 | ||||||
Lee’s Pharmaceutical Holdings, Ltd. | 50,000 | 58,012 | ||||||
Loudong General Nice Resources China Holdings, Ltd. (a) | 1,233,000 | 78,681 | ||||||
Louis XIII Holdings, Ltd. (a) | 95,500 | 104,524 | ||||||
Luk Fook Holdings International, Ltd. | 205,000 | 647,476 | ||||||
Mongolia Energy Co., Ltd. (a) | 1,482,723 | 41,096 | ||||||
Pacific Basin Shipping, Ltd. | 1,633,000 | 1,042,065 | ||||||
Pacific Textiles Holdings, Ltd. | 79,000 | 103,676 | ||||||
PAX Global Technology, Ltd. (a) | 269,000 | 136,979 | ||||||
Peace Mark (Holdings), Ltd. (a)(c) | 504,228 | 0 | ||||||
PetroAsian Energy Holdings, Ltd. (a) | 2,404,000 | 39,669 | ||||||
Pico Far East Holdings, Ltd. | 202,000 | 58,592 | ||||||
Playmates Toys, Ltd. (a) | 272,000 | 127,636 | ||||||
Prosperity REIT | 611,000 | 176,438 | ||||||
Redefine International PLC | 170,985 | 157,494 | ||||||
Seamless Green China Holdings, Ltd. (a) | 200,000 | 31,455 | ||||||
Sino Oil And Gas Holdings, Ltd. (a) | 7,230,000 | 209,712 | ||||||
Sinolink Worldwide Holdings, Ltd. (a) | 720,000 | 58,476 | ||||||
Sinopoly Battery, Ltd. (a) | 3,440,000 | 252,776 | ||||||
Sparkle Roll Group, Ltd. (a) | 400,000 | 28,361 | ||||||
Spring Real Estate Investment Trust (a) | 268,000 | 102,957 | ||||||
Stella International Holdings, Ltd. | 283,000 | 677,123 | ||||||
Summit Ascent Holdings, Ltd. (a) | 118,000 | 172,504 | ||||||
SUNeVision Holdings, Ltd. | 156,000 | 51,081 | ||||||
Sunlight Real Estate Investment Trust | 177,000 | 66,172 | ||||||
Superb Summit International Group, Ltd. (a) | 1,870,000 | 214,553 | ||||||
TCC International Holdings, Ltd. | 176,000 | 88,487 | ||||||
Texhong Textile Group, Ltd. | 53,500 | 63,038 | ||||||
Tongda Group Holdings, Ltd. | 1,060,000 | 148,948 | ||||||
Truly International Holdings, Ltd. (b) | 502,000 | 337,814 | ||||||
TSC Group Holdings, Ltd. (a) | 219,000 | 111,518 | ||||||
United Photovoltaics Group, Ltd. (a) | 938,000 | 97,947 | ||||||
Varitronix International, Ltd. | 106,000 | 115,879 | ||||||
Vitasoy International Holdings, Ltd. | 94,000 | 136,449 | ||||||
Viva China Holdings, Ltd. (a) | 768,000 | 44,058 | ||||||
VST Holdings, Ltd. | 122,000 | 31,455 | ||||||
Yanchang Petroleum International, Ltd. (a) | 4,680,000 | 241,329 | ||||||
Yuexiu Real Estate Investment Trust | 1,173,000 | 580,674 | ||||||
Zhongyu Gas Holdings, Ltd. (a) | 112,000 | 29,166 | ||||||
11,516,562 | ||||||||
IRELAND — 0.7% | ||||||||
Aer Lingus Group PLC | 107,981 | 243,329 | ||||||
C&C Group PLC | 293,019 | 1,909,822 | ||||||
Endo International PLC (a)(b) | 1,154 | 79,387 | ||||||
FleetMatics Group PLC (a)(b) | 16,582 | 554,668 | ||||||
Fly Leasing, Ltd. ADR | 6,129 | 91,935 | ||||||
Grafton Group PLC | 40,703 | 439,041 | ||||||
Green REIT PLC (a) | 83,063 | 137,378 | ||||||
Greencore Group PLC | 171,120 | 786,524 | ||||||
Hibernia REIT PLC (a) | 151,838 | 221,408 | ||||||
IFG Group PLC | 16,006 | 38,164 | ||||||
Kenmare Resources PLC (a) | 1,319,065 | 307,871 | ||||||
Kingspan Group PLC | 43,024 | 818,903 | ||||||
Total Produce PLC | 85,506 | 117,849 | ||||||
UDG Healthcare PLC | 121,336 | 710,022 | ||||||
6,456,301 | ||||||||
ISRAEL — 1.1% | ||||||||
Africa Israel Properties, Ltd. (a) | 2,685 | 48,359 | ||||||
Africa-Israel Investments, Ltd. (a) | 27,322 | 63,143 | ||||||
Airport City, Ltd. (a) | 2,910 | 30,191 | ||||||
Allot Communications, Ltd. (a) | 11,233 | 147,310 | ||||||
Babylon, Ltd. | 15,006 | 23,647 | ||||||
Caesarstone Sdot-Yam, Ltd. (b) | 8,137 | 442,490 | ||||||
Cellcom Israel, Ltd. | 22,181 | 303,403 | ||||||
Clal Insurance Enterprise Holdings, Ltd. (a) | 22,118 | 438,285 | ||||||
Discount Investment Corp. (a) | 8,928 | 83,648 | ||||||
Elbit Systems, Ltd. | 15,550 | 945,881 | ||||||
Electra, Ltd. | 330 | 50,510 | ||||||
Enzymotec, Ltd. (a) | 6,879 | 151,476 | ||||||
EZchip Semiconductor, Ltd. (a) | 12,946 | 330,313 | ||||||
Frutarom Industries, Ltd. | 8,852 | 212,591 | ||||||
Harel Insurance Investments & Financial Services, Ltd. | 9,884 | 59,783 | ||||||
Israel Discount Bank, Ltd. (Class A) (a) | 471,226 | 863,427 | ||||||
Ituran Location and Control, Ltd. | 2,227 | 55,322 | ||||||
Jerusalem Oil Exploration (a) | 1,238 | 57,925 | ||||||
Kamada, Ltd. (a) | 13,154 | 187,804 | ||||||
magicJack VocalTec, Ltd. (a) | 4,736 | 100,545 | ||||||
Matrix IT, Ltd. | 12,422 | 71,717 | ||||||
Migdal Insurance & Financial Holding, Ltd. | 263,607 | 450,152 | ||||||
NICE Systems, Ltd. | 40,765 | 1,804,562 | ||||||
Oil Refineries, Ltd. (a) | 315,685 | 87,284 | ||||||
Orbotech, Ltd. (a) | 12,854 | 197,823 | ||||||
Ormat Industries, Ltd. | 8,041 | 60,962 | ||||||
Osem Investments, Ltd. | 38,050 | 893,101 |
See accompanying notes to financial statements.
171
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Partner Communications Co., Ltd. (a) | 31,036 | $ | 284,025 | |||||
Paz Oil Co., Ltd. | 947 | 142,776 | ||||||
RADWARE, Ltd. (a)(b) | 9,645 | 170,524 | ||||||
Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. | 2,087 | 120,909 | ||||||
Reit 1, Ltd. | 88,618 | 220,901 | ||||||
Sarine Technologies, Ltd. | 49,000 | 96,632 | ||||||
Shufersal, Ltd. | 7,693 | 30,705 | ||||||
SodaStream International, Ltd. (a)(b) | 7,414 | 326,957 | ||||||
Strauss Group, Ltd. | 3,324 | 60,077 | ||||||
Syneron Medical, Ltd. (a)(b) | 15,867 | 197,544 | ||||||
Wix.com, Ltd. (a) | 3,451 | 79,269 | ||||||
9,891,973 | ||||||||
ITALY — 2.1% | ||||||||
Amplifon SpA (b) | 251,744 | 1,696,664 | ||||||
Ansaldo STS SpA | 67,480 | 791,001 | ||||||
Astaldi SpA | 186,891 | 1,926,717 | ||||||
Banca Carige SpA (a) | 54,275 | 46,753 | ||||||
Banca Piccolo Credito Valtellinese Scarl (a)(b) | 127,034 | 269,105 | ||||||
Banca Popolare dell’Etruria e del Lazio (a) | 50,366 | 59,699 | ||||||
Banca Popolare di Milano Scarl (a)(b) | 1,728,012 | 1,738,591 | ||||||
Banca Popolare di Sondrio Scrl (b) | 177,805 | 1,208,144 | ||||||
Brembo SpA | 10,330 | 391,242 | ||||||
Brunello Cucinelli SpA (b) | 4,564 | 120,837 | ||||||
CIR-Compagnie Industriali Riunite SpA (a) | 52,325 | 78,968 | ||||||
Cosmo Pharmaceuticals SpA (a) | 2,344 | 283,132 | ||||||
Danieli & C Officine Meccaniche SpA | 4,128 | 95,013 | ||||||
EI Towers SpA | 18,646 | 1,102,480 | ||||||
Esprinet SpA | 46,528 | 487,367 | ||||||
Gruppo Editoriale L’Espresso SpA (a) | 28,520 | 65,840 | ||||||
Hera SpA | 256,207 | 748,609 | ||||||
IMMSI SpA (a) | 485,438 | 461,648 | ||||||
Indesit Co. SpA | 4,255 | 64,978 | ||||||
Interpump Group SpA | 226,337 | 3,487,588 | ||||||
Iren SpA | 145,075 | 261,934 | ||||||
Italcementi SpA | 16,585 | 130,292 | ||||||
Safilo Group SpA (a) | 7,076 | 149,506 | ||||||
Saras SpA (a)(b) | 308,305 | 538,800 | ||||||
Sorin SpA (a) | 493,239 | 1,473,820 | ||||||
Yoox SpA (a)(b) | 29,577 | 1,012,182 | ||||||
18,690,910 | ||||||||
JAPAN — 30.8% | ||||||||
3-D Matrix, Ltd. (a)(b) | 8,300 | 334,869 | ||||||
Access Co., Ltd. (a)(b) | 6,600 | 39,862 | ||||||
Accordia Golf Co., Ltd. | 40,300 | 453,930 | ||||||
Achilles Corp. | 31,000 | 43,045 | ||||||
Activia Properties, Inc. | 82 | 660,077 | ||||||
Adastria Holdings Co., Ltd. (b) | 26,410 | 660,090 | ||||||
ADEKA Corp. | 12,200 | 140,972 | ||||||
Advanced Media, Inc. (a) | 3,900 | 46,428 | ||||||
Adways, Inc. (a) | 8,100 | 122,933 | ||||||
AEON REIT Investment Corp. | 376 | 449,805 | ||||||
Ahresty Corp. | 8,100 | 67,641 | ||||||
Ai Holdings Corp. | 9,200 | 162,587 | ||||||
Aica Kogyo Co., Ltd. | 7,800 | 174,124 | ||||||
Aichi Steel Corp. | 32,000 | 126,154 | ||||||
Ain Pharmaciez, Inc. | 7,400 | 343,108 | ||||||
Alps Electric Co., Ltd. (a) | 135,536 | 1,620,089 | ||||||
Amano Corp. | 6,800 | 70,387 | ||||||
Amiyaki Tei Co., Ltd. | 1,700 | 49,456 | ||||||
AnGes MG, Inc. (a) | 6,400 | 29,892 | ||||||
Anritsu Corp. | 66,900 | 769,787 | ||||||
AOKI Holdings, Inc. | 9,800 | 139,504 | ||||||
Aoyama Trading Co., Ltd. | 31,900 | 839,433 | ||||||
Arcs Co., Ltd. | 25,900 | 506,507 | ||||||
Arisawa Manufacturing Co., Ltd. | 14,600 | 78,398 | ||||||
Artnature, Inc. | 1,500 | 42,793 | ||||||
As One Corp. | 3,800 | 103,906 | ||||||
Asahi Diamond Industrial Co., Ltd. | 8,200 | 104,545 | ||||||
Asahi Holdings, Inc. | 51,073 | 830,677 | ||||||
Asahi Intecc Co., Ltd. | 6,900 | 278,050 | ||||||
Asatsu-DK, Inc. (b) | 3,400 | 70,420 | ||||||
ASKA Pharmaceutical Co., Ltd. | 12,400 | 124,861 | ||||||
ASKUL Corp. | 6,600 | 208,283 | ||||||
Ateam, Inc. | 1,500 | 71,952 | ||||||
Autobacs Seven Co., Ltd. | 44,600 | 688,586 | ||||||
Avex Group Holdings, Inc. | 20,600 | 362,653 | ||||||
Azbil Corp. | 8,900 | 220,199 | ||||||
Bank of the Ryukyus, Ltd. (b) | 131,000 | 1,746,497 | ||||||
Best Denki Co., Ltd. (a)(b) | 256,769 | 336,591 | ||||||
Bic Camera, Inc. (b) | 13,800 | 83,348 | ||||||
Broadleaf Co., Ltd. | 3,800 | 59,481 | ||||||
C. Uyemura & Co., Ltd. | 1,400 | 69,331 | ||||||
Calsonic Kansei Corp. | 56,000 | 260,465 | ||||||
Capcom Co., Ltd. (b) | 25,200 | 479,114 | ||||||
Central Glass Co., Ltd. | 541,145 | 1,760,291 | ||||||
Chiome Bioscience, Inc. (a) | 6,600 | 198,349 | ||||||
Chiyoda Co., Ltd. | 20,200 | 438,777 | ||||||
Chiyoda Integre Co., Ltd. | 5,600 | 102,228 | ||||||
Chudenko Corp. | 4,600 | 79,685 | ||||||
Chugoku Marine Paints, Ltd. | 8,000 | 56,940 | ||||||
CKD Corp. | 4,000 | 38,219 | ||||||
Coca-Cola East Japan Co., Ltd. | 16,300 | 409,934 | ||||||
Cocokara fine, Inc. | 15,200 | 440,421 | ||||||
COLOPL, Inc. (a)(b) | 16,300 | 429,243 | ||||||
Comforia Residential REIT, Inc. | 18 | 121,474 | ||||||
COMSYS Holdings Corp. | 163,950 | 2,575,823 | ||||||
Cosmo Oil Co., Ltd. (b) | 348,000 | 631,898 | ||||||
CROOZ, Inc. | 2,300 | 103,292 | ||||||
CyberAgent, Inc. | 24,000 | 920,522 | ||||||
D.Western Therapeutics Institute, Inc. (a) | 3,700 | 30,682 | ||||||
Daibiru Corp. | 5,600 | 59,815 | ||||||
Daido Metal Co., Ltd. | 7,000 | 73,681 | ||||||
Daifuku Co., Ltd. | 110,500 | 1,369,112 | ||||||
Daihen Corp. | 266,000 | 1,061,572 | ||||||
DAIICHI CHUO KISEN KAISHA (a)(b) | 350,834 | 316,819 | ||||||
Daiichikosho Co., Ltd. | 20,500 | 622,057 | ||||||
Daikyo, Inc. (b) | 137,000 | 275,370 | ||||||
Dainippon Screen Manufacturing Co., Ltd. | 186,000 | 861,504 | ||||||
Daio Paper Corp. (b) | 26,000 | 312,803 | ||||||
Daiseki Co., Ltd. | 5,700 | 98,519 |
See accompanying notes to financial statements.
172
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Daishinku Corp. | 9,000 | $ | 36,180 | |||||
Daito Pharmaceutical Co., Ltd. | 2,700 | 39,379 | ||||||
Daiwa House REIT Investment Corp. (b) | 91 | 364,495 | ||||||
Daiwa Office Investment Corp. (b) | 324 | 1,568,325 | ||||||
Daiwahouse Residential Investment Corp. | 123 | 495,655 | ||||||
DCM Japan Holdings Co., Ltd. | 184,933 | 1,239,052 | ||||||
Denki Kagaku Kogyo Kabushiki Kaisha | 94,000 | 323,115 | ||||||
Denyo Co., Ltd. | 3,800 | 64,019 | ||||||
Digital Garage, Inc. (b) | 18,800 | 320,924 | ||||||
Disco Corp. | 10,200 | 635,860 | ||||||
DMG Mori Seiki Co., Ltd. | 38,400 | 486,595 | ||||||
Doutor Nichires Holdings Co., Ltd. | 120,832 | 2,131,881 | ||||||
DTS Corp. | 75,082 | 1,316,678 | ||||||
Dunlop Sports Co., Ltd. | 2,600 | 31,609 | ||||||
Duskin Co., Ltd. | 6,400 | 122,985 | ||||||
Dwango Co., Ltd. | 8,400 | 281,400 | ||||||
Dynam Japan Holdings Co., Ltd. | 58,200 | 173,691 | ||||||
Eagle Industry Co., Ltd. | 3,400 | 52,526 | ||||||
Earth Chemical Co., Ltd. | 800 | 29,169 | ||||||
EDION Corp. (b) | 110,600 | 617,517 | ||||||
Eidai Co., Ltd. | 14,000 | 84,284 | ||||||
Eizo Nanao Corp. | 5,900 | 154,568 | ||||||
Elecom Co., Ltd. | 4,300 | 90,397 | ||||||
Eneres Co., Ltd. (a) | 3,200 | 55,558 | ||||||
Enplas Corp. | 5,300 | 298,490 | ||||||
EPS Corp. | 2,900 | 31,679 | ||||||
Euglena Co., Ltd. (a)(b) | 25,600 | 252,557 | ||||||
Exedy Corp. | 7,000 | 196,300 | ||||||
Ezaki Glico Co., Ltd. | 35,000 | 464,582 | ||||||
F@N Communications, Inc. | 16,000 | 286,644 | ||||||
FCC Co., Ltd. | 109,148 | 1,946,933 | ||||||
Ferrotec Corp. | 10,400 | 54,633 | ||||||
Fields Corp. | 3,500 | 50,944 | ||||||
FP Corp. (b) | 13,800 | 440,190 | ||||||
Fuji Machine Manufacturing Co., Ltd. | 21,300 | 187,591 | ||||||
Fuji Oil Co., Ltd. | 44,600 | 572,522 | ||||||
Fuji Pharma Co., Ltd. | 3,500 | 68,753 | ||||||
Fuji Seal International, Inc. | 3,200 | 109,220 | ||||||
Fujibo Holdings, Inc. | 17,000 | 44,735 | ||||||
Fujikura, Ltd. | 124,000 | 568,316 | ||||||
Fujitec Co., Ltd. | 9,300 | 126,155 | ||||||
Fujitsu General, Ltd. | 19,000 | 183,755 | ||||||
Fukuoka REIT Corp. | 1,550 | 2,496,917 | ||||||
Furukawa Co., Ltd. | 602,387 | 1,087,964 | ||||||
Furukawa Electric Co., Ltd. (b) | 354,000 | 883,410 | ||||||
Furuya Metal Co., Ltd. | 1,100 | 26,927 | ||||||
Fuso Pharmaceutical Industries, Ltd. | 22,000 | 77,759 | ||||||
Futaba Corp. | 13,300 | 229,878 | ||||||
Fuyo General Lease Co., Ltd. | 3,400 | 122,319 | ||||||
Global One Real Estate Investment Co., Ltd. | 52 | 152,993 | ||||||
GLOBERIDE, Inc. | 68,000 | 88,479 | ||||||
Glory, Ltd. | 80,300 | 2,205,843 | ||||||
GLP J-Reit | 744 | 750,610 | ||||||
GMO Internet, Inc. | 31,600 | 315,739 | ||||||
GMO Payment Gateway, Inc. | 3,100 | 132,145 | ||||||
GNI Group, Ltd. (a) | 46,000 | 148,293 | ||||||
Gree, Inc. (b) | 49,500 | 547,944 | ||||||
GS Yuasa Corp. (b) | 206,000 | 1,094,159 | ||||||
Gulliver International Co., Ltd. | 8,700 | 67,667 | ||||||
Gurunavi, Inc. | 13,400 | 188,668 | ||||||
H2O Retailing Corp. (b) | 33,000 | 263,718 | ||||||
Hankyu REIT, Inc. | 17 | 86,168 | ||||||
Hanwa Co., Ltd. | 331,000 | 1,285,624 | ||||||
Harmonic Drive Systems, Inc. | 2,300 | 69,568 | ||||||
Haseko Corp. | 172,300 | 1,080,796 | ||||||
Hazama Ando Corp. | 60,300 | 226,597 | ||||||
Hearts United Group Co., Ltd. | 1,300 | 37,680 | ||||||
Heiwa Corp. | 6,700 | 115,153 | ||||||
Heiwa Real Estate Co., Ltd. | 72,700 | 1,163,369 | ||||||
Heiwa Real Estate REIT, Inc. | 205 | 159,446 | ||||||
Heiwado Co., Ltd. | 2,700 | 38,041 | ||||||
HI-LEX CORP. | 6,800 | 172,732 | ||||||
Hibiya Engineering, Ltd. | 7,500 | 108,438 | ||||||
Hirano Tecseed Co., Ltd. | 2,900 | 30,328 | ||||||
HIS Co., Ltd. | 8,300 | 473,894 | ||||||
Hitachi Kokusai Electric, Inc. | 69,372 | 834,606 | ||||||
Hitachi Transport System, Ltd. | 9,600 | 156,232 | ||||||
Hitachi Zosen Corp. | 162,100 | 774,416 | ||||||
Hogy Medical Co., Ltd. | 2,300 | 117,920 | ||||||
Hokkaido Gas Co., Ltd. (b) | 12,000 | 32,976 | ||||||
Hokuetsu Kishu Paper Co., Ltd. (b) | 23,500 | 118,202 | ||||||
Hokuriku Electric Industry Co., Ltd. | 33,000 | 44,861 | ||||||
Horiba, Ltd. | 45,213 | 1,707,808 | ||||||
Hosiden Corp. | 125,900 | 618,589 | ||||||
House Foods Group, Inc. (b) | 10,900 | 181,411 | ||||||
Hulic Reit, Inc. (a) | 240 | 328,592 | ||||||
IBJ Leasing Co., Ltd. | 14,500 | 366,495 | ||||||
Ichigo Group Holdings Co., Ltd. | 18,600 | 65,742 | ||||||
Ichigo Real Estate Investment Corp. | 225 | 137,204 | ||||||
Iida Group Holdings Co., Ltd. | 16,500 | 228,951 | ||||||
Iino Kaiun Kaisha, Ltd. | 155,300 | 779,629 | ||||||
Inaba Denki Sangyo Co., Ltd. | 3,000 | 96,713 | ||||||
Inabata & Co., Ltd. | 3,400 | 34,731 | ||||||
Industrial & Infrastructure Fund Investment Corp. (b) | 68 | 560,587 | ||||||
Infomart Corp. | 10,400 | 174,402 | ||||||
Intage Holdings, Inc. | 4,000 | 53,250 | ||||||
Internet Initiative Japan, Inc. (b) | 17,200 | 416,033 | ||||||
Iriso Electronics Co., Ltd. | 3,200 | 173,074 | ||||||
Iseki & Co., Ltd. (b) | 56,000 | 148,449 | ||||||
Ishihara Sangyo Kaisha, Ltd. (a) | 84,000 | 77,487 | ||||||
IT Holdings Corp. | 90,108 | 1,482,186 | ||||||
Itfor, Inc. (a) | 14,600 | 65,639 | ||||||
Itoki Corp. | 7,000 | 44,113 | ||||||
Iwasaki Electric Co., Ltd. (a) | 27,000 | 66,330 | ||||||
Iwatani Corp. | 89,000 | 582,473 | ||||||
Izumiya Co., Ltd. | 275,000 | 1,383,211 | ||||||
J Trust Co., Ltd. (b) | 28,900 | 365,933 | ||||||
Jaccs Co., Ltd. | 34,000 | 143,283 | ||||||
Jafco Co., Ltd. (a)(b) | 14,800 | 665,378 | ||||||
Japan Airport Terminal Co., Ltd. (b) | 73,900 | 1,923,833 | ||||||
Japan Asset Marketing Co., Ltd. (a) | 41,100 | 38,312 | ||||||
Japan Aviation Electronics Industry, Ltd. | 53,000 | 793,572 | ||||||
Japan Cash Machine Co., Ltd. | 3,200 | 56,707 |
See accompanying notes to financial statements.
173
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Japan Digital Laboratory Co., Ltd. | 4,000 | $ | 57,795 | |||||
Japan Excellent, Inc. | 1,360 | 1,737,884 | ||||||
Japan Hotel REIT Investment Corp. | 911 | 416,644 | ||||||
Japan Logistics Fund, Inc. | 1,360 | 3,063,747 | ||||||
Japan Pile Corp. | 6,600 | 53,705 | ||||||
Japan Rental Housing Investments, Inc. | 48 | 29,084 | ||||||
Japan Securities Finance Co., Ltd. | 27,300 | 158,522 | ||||||
Japan Tissue Engineering Co., Ltd. (a) | 2,800 | 41,870 | ||||||
Japan Wind Development Co., Ltd. (a) | 7,700 | 51,216 | ||||||
JCR Pharmaceuticals Co., Ltd. | 3,800 | 87,450 | ||||||
Jin Co., Ltd. (b) | 3,200 | 95,859 | ||||||
Juki Corp. (a)(b) | 172,332 | 348,061 | ||||||
Justsystems Corp. (a) | 7,700 | 59,441 | ||||||
K’s Holdings Corp. | 23,400 | 651,887 | ||||||
Kadokawa Corp. (b) | 11,900 | 381,895 | ||||||
Kaga Electronics Co., Ltd. | 6,400 | 88,557 | ||||||
Kagome Co., Ltd. (b) | 18,500 | 314,187 | ||||||
Kaken Pharmaceutical Co., Ltd. | 45,000 | 713,114 | ||||||
Kanamoto Co., Ltd. | 14,800 | 434,005 | ||||||
Kandenko Co., Ltd. | 25,000 | 126,960 | ||||||
Kanematsu Corp. | 791,698 | 1,230,001 | ||||||
Kasai Kogyo Co., Ltd. | 8,000 | 51,347 | ||||||
Katakura Industries Co., Ltd. | 106,374 | 1,354,142 | ||||||
Kato Sangyo Co., Ltd. | 2,500 | 53,284 | ||||||
KAWADA TECHNOLOGIES, Inc. | 1,300 | 37,743 | ||||||
Kawai Musical Instruments Manufacturing Co., Ltd. | 93,000 | 169,772 | ||||||
Keihin Corp. | 15,000 | 219,061 | ||||||
Kenedix Office Investment Corp. | 151 | 750,711 | ||||||
Kenedix Residential Investment Corp. | 72 | 155,417 | ||||||
Kenedix, Inc. (a)(b) | 107,200 | 347,670 | ||||||
Kintetsu World Express, Inc. | 3,000 | 133,563 | ||||||
Kissei Pharmaceutical Co., Ltd. | 7,900 | 196,455 | ||||||
Kitano Construction Corp. | 15,000 | 37,578 | ||||||
Kitz Corp. | 187,400 | 918,940 | ||||||
Komeri Co., Ltd. | 10,000 | 272,564 | ||||||
Komori Corp. (b) | 76,436 | 955,960 | ||||||
Kose Corp. | 5,600 | 184,338 | ||||||
Kumagai Gumi Co., Ltd. (a) | 111,000 | 274,846 | ||||||
Kurabo Industries, Ltd. | 783,000 | 1,414,167 | ||||||
Kureha Corp. | 35,000 | 165,849 | ||||||
Kuroda Electric Co., Ltd. | 6,500 | 105,467 | ||||||
Kusuri No Aoki Co., Ltd. | 900 | 58,203 | ||||||
KYB Co., Ltd. | 243,832 | 1,032,294 | ||||||
Kyodo Shiryo Co., Ltd. | 56,000 | 61,446 | ||||||
Kyoei Steel, Ltd. | 4,000 | 71,078 | ||||||
Kyokuto Kaihatsu Kogyo Co., Ltd. | 3,400 | 49,159 | ||||||
Kyokuyo Co., Ltd. | 22,000 | 55,969 | ||||||
KYORIN Holdings, Inc. | 31,600 | 604,783 | ||||||
Kyosan Electric Manufacturing Co., Ltd. | 12,000 | 40,666 | ||||||
Kyowa Exeo Corp. | 149,400 | 1,923,624 | ||||||
Kyudenko Corp. | 17,000 | 136,350 | ||||||
Lasertec Corp. | 4,900 | 55,288 | ||||||
Leopalace21 Corp. (a) | 93,600 | 449,891 | ||||||
Life Corp. | 4,200 | 64,029 | ||||||
Lintec Corp. | 11,500 | 219,760 | ||||||
Lion Corp. | 118,000 | 700,083 | ||||||
Mabuchi Motor Co., Ltd. | 5,300 | 347,895 | ||||||
Macromill, Inc. | 14,600 | 110,863 | ||||||
Maeda Corp. | 39,000 | 246,152 | ||||||
Maeda Road Construction Co., Ltd. | 15,000 | 209,594 | ||||||
Makino Milling Machine Co., Ltd. | 138,000 | 974,181 | ||||||
Mandom Corp. | 3,000 | 108,657 | ||||||
Marudai Food Co., Ltd. | 588,656 | 1,749,077 | ||||||
Maruha Nichiro Holdings, Inc. (a) | 842,485 | 1,390,712 | ||||||
Marusan Securities Co., Ltd. | 182,698 | 1,502,599 | ||||||
Maruwa Co., Ltd. | 1,900 | 74,166 | ||||||
Matsumotokiyoshi Holdings Co., Ltd. | 14,200 | 452,949 | ||||||
Medinet Co., Ltd. (a) | 16,100 | 43,304 | ||||||
Megmilk Snow Brand Co., Ltd. (b) | 5,600 | 73,191 | ||||||
Meidensha Corp. | 114,000 | 505,880 | ||||||
Meitic Corp. (b) | 4,400 | 125,183 | ||||||
Melco Holdings, Inc. | 4,000 | 58,882 | ||||||
Message Co., Ltd. | 3,500 | 111,812 | ||||||
MID Reit, Inc. | 39 | 88,274 | ||||||
Minebea Co., Ltd. | 172,000 | 1,533,194 | ||||||
Mirait Holdings Corp. | 101,900 | 894,476 | ||||||
Mitani Corp. | 4,400 | 98,267 | ||||||
Mitsuba Corp. | 19,700 | 324,045 | ||||||
Mitsubishi Nichiyu Forklift Co., Ltd. | 12,000 | 84,478 | ||||||
Mitsubishi Pencil Co., Ltd. | 9,000 | 258,591 | ||||||
Mitsubishi Shokuhin Co., Ltd. | 1,200 | 27,254 | ||||||
Mitsui Engineering & Shipbuilding Co., Ltd. | 186,000 | 393,727 | ||||||
Mitsui Mining & Smelting Co., Ltd. | 593,000 | 1,370,433 | ||||||
Mitsui Sugar Co., Ltd. | 11,000 | 42,084 | ||||||
Mitsui-Soko Co., Ltd. | 322,000 | 1,288,188 | ||||||
Mitsumi Electric Co., Ltd. | 58,400 | 423,603 | ||||||
Mixi, Inc. (a) | 3,900 | 215,478 | ||||||
Miyaji Engineering Group, Inc. | 26,000 | 57,814 | ||||||
Miyoshi Oil & Fat Co., Ltd. | 30,000 | 43,404 | ||||||
Mizuno Corp. (b) | 39,000 | 220,022 | ||||||
Mochida Pharmaceutical Co., Ltd. | 3,100 | 222,450 | ||||||
Monex Group, Inc. (b) | 100,400 | 390,935 | ||||||
MonotaRO Co., Ltd. (b) | 11,600 | 295,336 | ||||||
Mori Hills REIT Investment Corp. | 483 | 639,716 | ||||||
Morinaga & Co., Ltd. | 16,000 | 35,112 | ||||||
Morinaga Milk Industry Co., Ltd. (b) | 27,000 | 87,042 | ||||||
MOS Food Services, Inc. | 4,700 | 94,835 | ||||||
Moshi Moshi Hotline, Inc. | 24,100 | 221,846 | ||||||
Musashi Seimitsu Industry Co., Ltd. (b) | 6,100 | 125,868 | ||||||
Mutoh Holdings Co., Ltd. | 20,000 | 92,246 | ||||||
Nachi-Fujikoshi Corp. | 81,000 | 534,835 | ||||||
Nagase & Co., Ltd. | 8,100 | 100,282 | ||||||
Nakanishi, Inc. | 41,915 | 1,341,068 | ||||||
Namura Shipbuilding Co., Ltd. (b) | 20,300 | 190,020 | ||||||
NanoCarrier Co., Ltd. (a)(b) | 13,800 | 188,806 | ||||||
NEC Fielding, Ltd. (b) | 11,900 | 181,068 | ||||||
NEC Networks & System Integration Corp. | 3,700 | 75,376 | ||||||
NET One Systems Co., Ltd. (b) | 124,500 | 847,449 | ||||||
Neturen Co., Ltd. | 159,603 | 1,019,748 | ||||||
Nichi-iko Pharmaceutical Co., Ltd. | 27,000 | 416,857 | ||||||
Nichias Corp. | 12,000 | 77,137 | ||||||
Nichicon Corp. | 12,100 | 95,992 |
See accompanying notes to financial statements.
174
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Nichii Gakkan Co. | 6,700 | $ | 62,391 | |||||
Nichirei Corp. | 167,000 | 707,016 | ||||||
Nichireki Co., Ltd. | 12,000 | 119,784 | ||||||
Nifco, Inc. (b) | 6,100 | 172,720 | ||||||
Nihon Dempa Kogyo Co., Ltd. | 27,400 | 214,443 | ||||||
Nihon Kohden Corp. | 55,100 | 2,201,646 | ||||||
Nihon M&A Center, Inc. | 9,900 | 265,705 | ||||||
Nihon Nohyaku Co., Ltd. | 13,000 | 196,291 | ||||||
Nihon Parkerizing Co., Ltd. | 9,600 | 222,603 | ||||||
Nihon Trim Co., Ltd. | 1,500 | 88,702 | ||||||
Nihon Unisys, Ltd. | 13,800 | 135,206 | ||||||
Nikkiso Co., Ltd. | 105,900 | 1,178,438 | ||||||
Nippon Accommodations Fund, Inc. | 552 | 1,851,881 | ||||||
Nippon Beet Sugar Manufacturing Co., Ltd. | 33,000 | 64,087 | ||||||
Nippon Carbon Co., Ltd. | 255,712 | 486,668 | ||||||
Nippon Chemi-Con Corp. (a)(b) | 69,000 | 215,740 | ||||||
Nippon Chemiphar Co., Ltd. | 13,000 | 66,019 | ||||||
Nippon Coke & Engineering Co., Ltd. | 36,600 | 44,069 | ||||||
Nippon Concrete Industries Co., Ltd. | 9,000 | 33,296 | ||||||
Nippon Flour Mills Co., Ltd. | 13,000 | 71,321 | ||||||
Nippon Gas Co., Ltd. | 31,900 | 487,553 | ||||||
Nippon Koei Co., Ltd. | 17,000 | 85,012 | ||||||
Nippon Konpo Unyu Soko Co., Ltd. | 165,600 | 2,924,954 | ||||||
Nippon Light Metal Holdings Co., Ltd. (b) | 1,001,200 | 1,312,444 | ||||||
Nippon Paper Industries Co., Ltd. (b) | 56,000 | 1,057,630 | ||||||
Nippon Parking Development Co., Ltd. | 46,500 | 49,216 | ||||||
Nippon Seiki Co., Ltd. | 67,000 | 1,146,322 | ||||||
Nippon Sheet Glass Co., Ltd. (a) | 445,000 | 635,190 | ||||||
Nippon Shinyaku Co., Ltd. | 128,000 | 2,432,354 | ||||||
Nippon Soda Co., Ltd. | 279,000 | 1,519,823 | ||||||
Nippon Steel & Sumikin Bussan Corp. | 36,000 | 115,706 | ||||||
Nippon Suisan Kaisha, Ltd. (a) | 444,999 | 937,659 | ||||||
Nippon Thompson Co., Ltd. | 198,000 | 970,918 | ||||||
Nippon Yakin Kogyo Co., Ltd. (a)(b) | 83,000 | 266,767 | ||||||
Nipro Corp. (b) | 50,800 | 457,267 | ||||||
Nishi-Nippon Railroad Co., Ltd. | 166,000 | 628,635 | ||||||
Nishimatsu Construction Co., Ltd. (b) | 326,000 | 1,057,280 | ||||||
Nishimatsuya Chain Co., Ltd. (b) | 129,893 | 944,699 | ||||||
Nishio Rent All Co., Ltd. | 7,000 | 260,329 | ||||||
Nissha Printing Co., Ltd. (a)(b) | 24,900 | 328,583 | ||||||
Nisshin Steel Holdings Co., Ltd. | 54,900 | 470,716 | ||||||
Nisshinbo Holdings, Inc. | 29,000 | 248,366 | ||||||
Nissin Electric Co., Ltd. | 8,000 | 41,326 | ||||||
Nissin Kogyo Co., Ltd. | 15,100 | 282,250 | ||||||
Nitto Boseki Co., Ltd. (a)(b) | 336,153 | 1,573,295 | ||||||
Nitto Kogyo Corp. | 8,500 | 178,774 | ||||||
NOF Corp. | 330,000 | 2,393,650 | ||||||
Nomura Real Estate Master Fund, Inc. | 427 | 439,916 | ||||||
Nomura Real Estate Office Fund, Inc. | 199 | 870,510 | ||||||
Nomura Real Estate Residential Fund, Inc. | 35 | 179,783 | ||||||
Noritsu Koki Co., Ltd. | 9,800 | 69,086 | ||||||
Noritz Corp. | 4,700 | 87,807 | ||||||
North Pacific Bank, Ltd. | 154,800 | 629,812 | ||||||
NS United Kaiun Kaisha, Ltd. | 19,000 | 45,201 | ||||||
NSD Co., Ltd. | 103,608 | 1,300,822 | ||||||
Nuflare Technology, Inc. | 1,000 | 66,223 | ||||||
Obara Group, Inc. | 3,500 | 131,354 | ||||||
Okabe Co., Ltd. | 6,700 | 96,611 | ||||||
Okamura Corp. | 57,000 | 500,345 | ||||||
Okasan Securities Group, Inc. (b) | 207,682 | 1,752,446 | ||||||
Oki Electric Industry Co., Ltd. (b) | 549,000 | 1,178,123 | ||||||
OKUMA Corp. (b) | 66,000 | 534,486 | ||||||
Okumura Corp. (b) | 18,000 | 80,400 | ||||||
OncoTherapy Science, Inc. (a) | 23,000 | 37,297 | ||||||
Onward Holdings Co., Ltd. | 16,000 | 111,084 | ||||||
Orix JREIT, Inc. | 2,147 | 2,685,183 | ||||||
Osaki Electric Co., Ltd. | 9,000 | 52,173 | ||||||
OSG Corp. | 117,700 | 2,045,764 | ||||||
Pacific Metals Co., Ltd. (a)(b) | 74,000 | 276,642 | ||||||
Paramount Bed Holdings Co., Ltd. | 5,600 | 175,365 | ||||||
Penta-Ocean Construction Co., Ltd. | 123,000 | 419,216 | ||||||
PeptiDream, Inc. (a) | 1,500 | 117,541 | ||||||
Pigeon Corp. | 22,400 | 1,013,585 | ||||||
Pilot Corp. | 4,100 | 169,199 | ||||||
Piolax, Inc. | 1,100 | 40,321 | ||||||
Pioneer Corp. (a)(b) | 176,000 | 377,686 | ||||||
Pola Orbis Holdings, Inc. | 4,900 | 195,315 | ||||||
Poletowin Pitcrew Holdings, Inc. | 2,800 | 36,133 | ||||||
Premier Investment Corp. | 523 | 2,033,903 | ||||||
Raito Kogyo Co., Ltd. | 16,700 | 139,944 | ||||||
Relo Holdings, Inc. | 1,800 | 98,403 | ||||||
Rengo Co., Ltd. | 227,000 | 1,221,129 | ||||||
ReproCELL, Inc. (a) | 5,100 | 45,015 | ||||||
Resorttrust, Inc. | 13,400 | 207,795 | ||||||
Riso Kagaku Corp. | 4,600 | 114,034 | ||||||
Rohto Pharmaceutical Co., Ltd. | 156,600 | 2,770,551 | ||||||
Roland Corp. | 11,600 | 160,959 | ||||||
Roland DG Corp. | 4,400 | 174,530 | ||||||
Round One Corp. | 24,300 | 208,586 | ||||||
Ryobi, Ltd. | 37,000 | 113,172 | ||||||
Ryohin Keikaku Co., Ltd. | 6,903 | 666,270 | ||||||
Ryosan Co., Ltd. (b) | 3,500 | 74,054 | ||||||
Sagami Chain Co., Ltd. | 4,000 | 36,044 | ||||||
Saibu Gas Co., Ltd. | 25,000 | 63,359 | ||||||
Sakai Chemical Industry Co., Ltd. (b) | 342,565 | 1,064,435 | ||||||
San-A Co., Ltd. | 2,300 | 68,005 | ||||||
San-Ai Oil Co., Ltd. | 16,000 | 98,189 | ||||||
Sanden Corp. (b) | 228,000 | 1,018,401 | ||||||
Sanix, Inc. (a) | 11,800 | 128,444 | ||||||
Sanken Electric Co., Ltd. (b) | 44,000 | 311,890 | ||||||
Sankyo Tateyama, Inc. | 4,400 | 86,304 | ||||||
Sankyu, Inc. | 292,000 | 1,097,286 | ||||||
Sanwa Holdings Corp. | 31,000 | 201,379 | ||||||
Sanyo Shokai, Ltd. | 223,000 | 651,775 | ||||||
Sanyo Special Steel Co., Ltd. | 239,937 | 1,008,814 | ||||||
Sapporo Holdings, Ltd. | 246,000 | 969,811 | ||||||
Sato Corp. (b) | 61,500 | 1,427,844 | ||||||
Seika Corp. | 22,000 | 53,833 | ||||||
Seikagaku Corp. | 8,400 | 112,315 | ||||||
Seiko Holdings Corp. (b) | 12,000 | 47,890 | ||||||
Seino Holdings Co., Ltd. | 62,000 | 591,795 | ||||||
Seiren Co., Ltd. | 188,100 | 1,550,681 | ||||||
Sekisui House SI Investment Co. (b) | 150 | 149,439 | ||||||
Senshu Ikeda Holdings, Inc. (b) | 109,260 | 499,699 | ||||||
Septeni Holdings Co., Ltd. | 6,900 | 88,440 |
See accompanying notes to financial statements.
175
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Seria Co., Ltd. | 7,600 | $ | 282,274 | |||||
Shima Seiki Manufacturing, Ltd. (b) | 77,225 | 1,190,788 | ||||||
Shimachu Co., Ltd. | 102,200 | 2,232,849 | ||||||
Shindengen Electric Manufacturing Co., Ltd. | 14,000 | 61,990 | ||||||
Shinkawa, Ltd. (a) | 9,200 | 52,707 | ||||||
Shinkin Central Bank Preference Shares | 43 | 78,831 | ||||||
Shinko Electric Industries Co., Ltd. (b) | 28,700 | 207,618 | ||||||
Shinmaywa Industries, Ltd. | 25,000 | 228,674 | ||||||
Shinsho Corp. | 40,000 | 81,954 | ||||||
Ship Healthcare Holdings, Inc. (b) | 15,500 | 596,009 | ||||||
SHO-BOND Holdings Co., Ltd. | 10,900 | 482,633 | ||||||
Shochiku Co., Ltd. (b) | 358,000 | 3,066,039 | ||||||
Showa Aircraft Industry Co., Ltd. | 7,000 | 80,546 | ||||||
Showa Corp. | 11,300 | 124,428 | ||||||
Showa Denko K.K. (b) | 564,000 | 799,573 | ||||||
SIA Reit, Inc. | 48 | 174,084 | ||||||
Sinanen Co., Ltd. | 14,000 | 53,697 | ||||||
Sinfonia Technology Co., Ltd. | 504,000 | 792,815 | ||||||
SKY Perfect JSAT Holdings, Inc. | 25,400 | 136,144 | ||||||
Skymark Airlines, Inc. (a) | 37,700 | 106,527 | ||||||
SMK Corp. (b) | 132,343 | 499,892 | ||||||
SMS Co., Ltd. (a) | 4,600 | 89,959 | ||||||
Sogo Medical Co., Ltd. | 1,100 | 44,220 | ||||||
Sohgo Security Services Co., Ltd. | 14,100 | 296,280 | ||||||
Sosei Group Corp. (a) | 6,000 | 153,984 | ||||||
Sotetsu Holdings, Inc. | 202,000 | 741,428 | ||||||
Square Enix Holdings Co., Ltd. (b) | 31,200 | 643,783 | ||||||
Star Micronics Co., Ltd. | 72,700 | 878,175 | ||||||
Starts Corp, Inc. | 3,000 | 38,190 | ||||||
Starts Proceed Investment Corp. | 68 | 114,891 | ||||||
Sumitomo Bakelite Co., Ltd. | 54,000 | 208,166 | ||||||
Sumitomo Forestry Co., Ltd. | 94,100 | 947,533 | ||||||
Sumitomo Mitsui Construction Co., Ltd. (a) | 386,500 | 405,321 | ||||||
Sumitomo Osaka Cement Co., Ltd. | 542,793 | 2,250,547 | ||||||
Sumitomo Real Estate Sales Co., Ltd. | 3,700 | 116,944 | ||||||
Sumitomo Seika Chemicals Co., Ltd. | 11,000 | 74,021 | ||||||
Sun Corp. | 10,000 | 98,073 | ||||||
Sun Frontier Fudousan Co., Ltd. | 5,800 | 80,198 | ||||||
SWCC Showa Holdings Co., Ltd. (a) | 45,000 | 45,444 | ||||||
T RAD Co., Ltd. | 15,000 | 42,676 | ||||||
Tadano, Ltd. | 93,526 | 1,218,740 | ||||||
Taikisha, Ltd. (b) | 6,000 | 130,388 | ||||||
Taiko Pharmaceutical Co., Ltd. | 4,200 | 68,882 | ||||||
Taiyo Holdings Co., Ltd. | 4,600 | 136,457 | ||||||
Taiyo Yuden Co., Ltd. (b) | 61,700 | 762,675 | ||||||
Takaoka Toko Holdings Co., Ltd. | 1,900 | 36,603 | ||||||
Takara Holdings, Inc. | 265,000 | 2,025,101 | ||||||
Takasago International Corp. | 288,694 | 1,670,745 | ||||||
Takasago Thermal Engineering Co., Ltd. | 13,100 | 134,454 | ||||||
Takashima & Co., Ltd. | 36,000 | 84,944 | ||||||
Takuma Co., Ltd. | 135,000 | 967,422 | ||||||
Tamron Co., Ltd. | 5,400 | 128,203 | ||||||
Tanseisha Co., Ltd. | 16,100 | 72,539 | ||||||
Teikoku Electric Manufacturing Co.,Ltd. | 1,800 | 59,077 | ||||||
Teikoku Sen-I Co., Ltd. | 5,300 | 81,107 | ||||||
Tekken Corp. (a) | 30,000 | 81,274 | ||||||
Temp Holdings Co., Ltd. | 22,400 | 595,535 | ||||||
The 77 Bank, Ltd. | 145,000 | 653,299 | ||||||
The Bank of Iwate, Ltd. (b) | 1,800 | 87,129 | ||||||
The Bank of Nagoya, Ltd. | 268,000 | 1,048,735 | ||||||
The Bank of Okinawa, Ltd. (b) | 52,700 | 2,228,562 | ||||||
The Daishi Bank, Ltd. | 27,000 | 99,364 | ||||||
The Daito Bank, Ltd. | 41,000 | 44,987 | ||||||
The Ehime Bank, Ltd. (b) | 700,000 | 1,502,161 | ||||||
The Eighteenth Bank, Ltd. | 729,730 | 1,601,388 | ||||||
The Hokuetsu Bank, Ltd. | 1,021,000 | 2,141,438 | ||||||
The Japan Steel Works, Ltd. (b) | 76,000 | 341,681 | ||||||
The Kiyo Bank, Ltd. | 127,100 | 1,631,560 | ||||||
The Michinoku Bank, Ltd. | 713,000 | 1,474,671 | ||||||
The Minato Bank, Ltd. | 786,000 | 1,373,792 | ||||||
The Miyazaki Bank, Ltd. | 691,000 | 2,106,851 | ||||||
The Monogatari Corp. | 1,400 | 44,045 | ||||||
The Musashino Bank, Ltd. | 46,100 | 1,530,922 | ||||||
The Nanto Bank, Ltd. | 134,000 | 506,151 | ||||||
The Nishi-Nippon City Bank, Ltd. | 333,000 | 750,168 | ||||||
The Ogaki Kyoritsu Bank, Ltd. | 19,000 | 52,027 | ||||||
The Oita Bank, Ltd. | 415,000 | 1,615,915 | ||||||
The Okinawa Electric Power Co., Inc. | 2,000 | 67,874 | ||||||
The San-In Godo Bank, Ltd. | 10,000 | 67,777 | ||||||
The Sumitomo Warehouse Co., Ltd. | 21,000 | 102,568 | ||||||
The Tochigi Bank, Ltd. | 276,000 | 1,173,841 | ||||||
The Tokyo Tomin Bank, Ltd. (b) | 49,800 | 516,932 | ||||||
Toa Corp. | 33,000 | 67,612 | ||||||
Toagosei Co., Ltd. | 565,818 | 2,428,427 | ||||||
Tobishima Corp. (a) | 30,200 | 44,867 | ||||||
TOC Co., Ltd. | 186,400 | 1,342,999 | ||||||
Toda Corp. (b) | 35,000 | 115,211 | ||||||
Toei Co., Ltd. | 327,000 | 1,968,636 | ||||||
Toho Holdings Co., Ltd. | 71,719 | 1,520,943 | ||||||
Toho Zinc Co., Ltd. (b) | 259,000 | 787,173 | ||||||
Tokai Carbon Co., Ltd. | 114,000 | 387,435 | ||||||
Tokai Corp. | 1,600 | 45,708 | ||||||
Tokai Rika Co., Ltd. | 8,600 | 144,802 | ||||||
Tokai Tokyo Financial Holdings, Inc. | 119,600 | 1,005,715 | ||||||
Toko, Inc. | 17,000 | 53,318 | ||||||
Tokuyama Corp. (b) | 233,000 | 764,713 | ||||||
Tokyo Dome Corp. | 264,000 | 1,358,644 | ||||||
Tokyo Ohka Kogyo Co., Ltd. | 5,400 | 119,604 | ||||||
Tokyo Seimitsu Co., Ltd. | 9,200 | 162,319 | ||||||
Tokyo Steel Manufacturing Co., Ltd. | 53,900 | 289,951 | ||||||
Tokyo Tekko Co., Ltd. | 9,000 | 36,792 | ||||||
Tokyotokeiba Co., Ltd. (b) | 73,000 | 218,323 | ||||||
Tokyu Construction Co., Ltd. | 16,900 | 71,712 | ||||||
Tokyu REIT, Inc. | 299 | 362,627 | ||||||
Tomen Electronics Corp. | 3,000 | 47,920 | ||||||
Tomoe Engineering Co., Ltd. | 2,800 | 46,465 | ||||||
TOMONY Holdings, Inc. | 290,800 | 1,211,373 | ||||||
Tomy Co., Ltd. | 20,500 | 95,150 | ||||||
Top REIT, Inc. | 92 | 418,527 | ||||||
Topcon Corp. | 19,200 | 315,448 | ||||||
Topre Corp. | 5,500 | 58,960 | ||||||
Topy Industries, Ltd. | 561,381 | 992,099 | ||||||
Torii Pharmaceutical Co., Ltd. | 3,700 | 120,357 |
See accompanying notes to financial statements.
176
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Torishima Pump Manufacturing Co., Ltd. | 5,600 | $ | 69,222 | |||||
Toshiba Machine Co., Ltd. | 51,000 | 241,666 | ||||||
Toshiba Plant Systems & Services Corp. (b) | 12,000 | 179,211 | ||||||
Toshiba TEC Corp. | 33,000 | 188,095 | ||||||
Totetsu Kogyo Co., Ltd. (b) | 4,500 | 83,590 | ||||||
Towa Pharmaceutical Co., Ltd. | 2,800 | 121,124 | ||||||
Toyo Construction Co., Ltd. | 9,700 | 34,190 | ||||||
Toyo Corp./Chuo-ku | 168,248 | 1,735,004 | ||||||
Toyo Engineering Corp. (b) | 24,000 | 110,463 | ||||||
Toyo Ink Manufacturing Co., Ltd. | 18,000 | 72,884 | ||||||
Toyo Tire & Rubber Co., Ltd. | 175,000 | 1,242,171 | ||||||
Toyo Wharf & Warehouse Co., Ltd. | 31,000 | 74,050 | ||||||
Toyobo Co., Ltd. (b) | 1,087,788 | 1,711,139 | ||||||
TSI Holdings Co., Ltd. | 69,700 | 462,253 | ||||||
Tsubakimoto Chain Co. | 19,000 | 136,156 | ||||||
Tsukui Corp. | 4,300 | 42,004 | ||||||
UACJ Corp. (b) | 55,000 | 227,509 | ||||||
Ulvac, Inc. (a) | 35,000 | 716,755 | ||||||
UMN Pharma, Inc. (a) | 1,500 | 30,995 | ||||||
Unipres Corp. | 17,900 | 322,421 | ||||||
United Arrows, Ltd. | 11,300 | 419,148 | ||||||
UNITED, Inc. (a) | 3,700 | 55,077 | ||||||
Unitika, Ltd. (a) | 1,100,000 | 608,827 | ||||||
UNY Group Holdings Co., Ltd. | 50,400 | 300,486 | ||||||
Usen Corp. (a) | 50,110 | 157,651 | ||||||
Ushio, Inc. | 27,400 | 354,389 | ||||||
UT Holdings Co., Ltd. | 11,100 | 58,203 | ||||||
Valor Co., Ltd. | 32,600 | 410,567 | ||||||
VT Holdings Co., Ltd. | 23,700 | 130,944 | ||||||
Wacoal Holdings Corp. | 11,000 | 112,473 | ||||||
Wacom Co., Ltd. (b) | 76,000 | 535,029 | ||||||
Wakachiku Construction Co., Ltd. | 38,000 | 51,658 | ||||||
Wakita & Co., Ltd. | 11,000 | 128,708 | ||||||
Welcia Holdings Co., Ltd. | 3,100 | 174,890 | ||||||
Xebio Co., Ltd. | 8,000 | 139,438 | ||||||
YAMABIKO Corp. | 1,500 | 61,320 | ||||||
Yamazen Corp. | 8,700 | 57,530 | ||||||
Yaoko Co., Ltd. (b) | 3,800 | 180,988 | ||||||
Yodogawa Steel Works, Ltd. | 451,000 | 1,869,952 | ||||||
Yokogawa Bridge Holdings Corp. | 8,000 | 88,401 | ||||||
Yoshinoya D&C Co., Ltd. (b) | 6,600 | 84,339 | ||||||
Yushin Precision Equipment Co., Ltd. | 1,400 | 40,783 | ||||||
Zenkoku Hosho Co., Ltd. (b) | 19,400 | 512,950 | ||||||
Zenrin Co., Ltd. (b) | 59,077 | 597,740 | ||||||
Zensho Co., Ltd. (b) | 21,200 | 208,120 | ||||||
ZERIA Pharmaceutical Co., Ltd. | 19,600 | 398,909 | ||||||
270,049,882 | ||||||||
JERSEY — 0.1% | ||||||||
Beazley PLC | 80,549 | 354,519 | ||||||
Kentz Corp., Ltd. | 24,548 | 308,371 | ||||||
662,890 | ||||||||
LUXEMBOURG — 0.3% | ||||||||
APERAM (a) | 22,367 | 594,196 | ||||||
AZ Electronic Materials SA | 144,034 | 967,229 | ||||||
COLT Telecom Group SA (a) | 135,586 | 334,091 | ||||||
Oriflame Cosmetics SA SDR (b) | 10,400 | 251,837 | ||||||
SAF-Holland SA (a) | 6,291 | 97,934 | ||||||
2,245,287 | ||||||||
MALTA — 0.0% (d) | ||||||||
Unibet Group PLC, SDR | 4,974 | 249,331 | ||||||
MONACO — 0.0% (d) | ||||||||
GasLog, Ltd. | 11,371 | 264,831 | ||||||
MONGOLIA — 0.0% (d) | ||||||||
Mongolian Mining Corp. (a) | 523,000 | 49,218 | ||||||
NETHERLANDS — 2.2% | ||||||||
Aalberts Industries NV | 82,373 | 2,872,323 | ||||||
AerCap Holdings NV (a) | 44,779 | 1,889,226 | ||||||
Arcadis NV | 15,967 | 614,312 | ||||||
ASM International NV | 60,328 | 2,422,489 | ||||||
BE Semiconductor Industries NV | 6,655 | 102,867 | ||||||
BinckBank NV | 44,025 | 520,794 | ||||||
Constellium NV (Class A) (a) | 30,709 | 901,309 | ||||||
Corbion NV (b) | 41,268 | 974,313 | ||||||
Eurocommercial Properties NV | 21,506 | 945,388 | ||||||
Exact Holding NV | 46,507 | 1,767,509 | ||||||
InterXion Holding NV (a)(b) | 16,403 | 393,344 | ||||||
Koninklijke BAM Groep NV (b) | 152,092 | 911,850 | ||||||
Koninklijke Ten Cate NV | 3,552 | 109,366 | ||||||
Koninklijke Wessanen NV | 5,519 | 31,453 | ||||||
PostNL NV (a) | 238,675 | 1,089,495 | ||||||
Royal Imtech NV (a)(b) | 210,757 | 578,047 | ||||||
TomTom NV (a)(b) | 43,718 | 295,608 | ||||||
USG People NV | 33,203 | 536,331 | ||||||
VastNed Retail NV | 1,984 | 97,743 | ||||||
VistaPrint NV (a) | 26,863 | 1,322,197 | ||||||
Wereldhave NV | 11,115 | 946,576 | ||||||
19,322,540 | ||||||||
NEW ZEALAND — 1.4% | ||||||||
A2 Corp., Ltd. (a) | 209,496 | 165,429 | ||||||
Air New Zealand, Ltd. | 255,358 | 453,145 | ||||||
Calan Healthcare Properties Trust | 46,984 | 51,371 | ||||||
Chorus, Ltd. (b) | 152,373 | 226,760 | ||||||
DNZ Property Fund, Ltd. | 270,941 | 360,892 | ||||||
Ebos Group, Ltd. | 30,831 | 274,224 | ||||||
Fisher & Paykel Healthcare Corp., Ltd. (b) | 617,978 | 2,279,063 | ||||||
Freightways, Ltd. | 39,361 | 165,313 | ||||||
Goodman Property Trust | 392,007 | 326,557 | ||||||
Infratil, Ltd. (b) | 329,685 | 646,550 | ||||||
Kathmandu Holdings, Ltd. | 69,096 | 230,838 | ||||||
Kiwi Income Property Trust | 482,149 | 466,499 | ||||||
Mainfreight, Ltd. | 62,796 | 722,009 | ||||||
Metlifecare, Ltd. | 43,997 | 155,386 | ||||||
New Zealand Oil & Gas, Ltd. | 70,649 | 46,899 | ||||||
Nuplex Industries, Ltd. | 149,075 | 447,585 | ||||||
PGG Wrightson, Ltd. | 109,124 | 38,824 | ||||||
Property for Industry, Ltd. | 132,768 | 147,468 | ||||||
Restaurant Brands New Zealand, Ltd. | 24,846 | 63,171 | ||||||
Ryman Healthcare, Ltd. | 131,668 | 999,730 | ||||||
Sky City Entertainment Group, Ltd. (b) | 291,680 | 994,704 | ||||||
Sky Network Television, Ltd. | 116,872 | 633,848 | ||||||
Steel & Tube Holdings, Ltd. | 17,222 | 45,580 |
See accompanying notes to financial statements.
177
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Summerset Group Holdings, Ltd. | 65,072 | $ | 202,714 | |||||
Trade Me, Ltd. | 121,107 | 427,719 | ||||||
Xero, Ltd. (a) | 39,675 | 1,354,741 | ||||||
Z Energy, Ltd. | 76,683 | 259,512 | ||||||
12,186,531 | ||||||||
NORWAY — 1.2% | ||||||||
Archer, Ltd. (a) | 60,466 | 78,776 | ||||||
Atea ASA | 43,244 | 474,907 | ||||||
BW LPG, Ltd. (a)(f) | 22,543 | 262,629 | ||||||
Deep Sea Supply PLC (a) | 189,520 | 307,053 | ||||||
Det Norske Oljeselskap ASA (a)(b) | 10,786 | 112,958 | ||||||
DNO International ASA (a) | 98,629 | 376,425 | ||||||
Dolphin Group AS (a) | 49,368 | 46,341 | ||||||
Ekornes ASA | 49,644 | 787,730 | ||||||
Frontline, Ltd. (a) | 21,646 | 84,602 | ||||||
Kongsberg Automotive Holding ASA (a) | 119,051 | 109,167 | ||||||
Leroy Seafood Group ASA | 1,410 | 45,806 | ||||||
Nordic Semiconductor ASA (a) | 39,980 | 247,077 | ||||||
Norwegian Air Shuttle AS (a)(b) | 9,070 | 383,430 | ||||||
Norwegian Property ASA | 445,677 | 539,691 | ||||||
Opera Software ASA | 30,277 | 395,970 | ||||||
ProSafe SE (b) | 127,403 | 1,021,003 | ||||||
REC Silicon ASA (a) | 957,403 | 624,298 | ||||||
REC Solar ASA (a) | 11,936 | 185,408 | ||||||
Salmar ASA (a) | 9,764 | 139,846 | ||||||
SpareBank 1 SMN | 5,874 | 52,735 | ||||||
Tomra Systems ASA | 178,230 | 1,711,732 | ||||||
Veidekke ASA | 256,924 | 2,660,624 | ||||||
Wilh Wilhelmsen ASA | 4,554 | 43,166 | ||||||
10,691,374 | ||||||||
PORTUGAL — 0.5% | ||||||||
Altri SGPS SA | 294,344 | 1,070,183 | ||||||
CTT-Correios de Portugal SA (a) | 17,113 | 187,980 | ||||||
Mota-Engil SGPS SA | 8,499 | 69,111 | ||||||
Semapa-Sociedade de Investimento e Gestao, SGPS, SA | 138,070 | 2,026,641 | ||||||
ZON OPTIMUS SGPS SA | 78,274 | 614,922 | ||||||
3,968,837 | ||||||||
SINGAPORE — 2.7% | ||||||||
AIMS AMP Capital Industrial REIT | 255,000 | 271,719 | ||||||
Ascendas Hospitality Trust | 163,000 | 95,269 | ||||||
Ascendas India Trust | 172,000 | 105,316 | ||||||
Ascott Residence Trust | 449,600 | 427,237 | ||||||
AusGroup, Ltd. (a) | 254,000 | 68,673 | ||||||
Biosensors International Group, Ltd. (b) | 687,000 | 510,791 | ||||||
Boustead Singapore, Ltd. | 89,000 | 132,345 | ||||||
Bukit Sembawang Estates, Ltd. | 284,080 | 1,224,376 | ||||||
Cache Logistics Trust | 525,000 | 473,838 | ||||||
Cambridge Industrial Trust | 1,045,187 | 598,413 | ||||||
Cape PLC | 11,767 | 61,304 | ||||||
CapitaRetail China Trust | 335,235 | 373,209 | ||||||
CDL Hospitality Trusts (b) | 438,000 | 576,430 | ||||||
China New Town Development Co., Ltd. (a) | 479,000 | 39,614 | ||||||
China Yuchai International, Ltd. (b) | 23,164 | 490,614 | ||||||
CitySpring Infrastructure Trust | 171,000 | 63,910 | ||||||
Civmec, Ltd. | 67,000 | 39,426 | ||||||
Cordlife Group, Ltd. | 264,000 | 245,620 | ||||||
Cosco Corp. Singapore, Ltd. (b) | 587,000 | 333,748 | ||||||
Croesus Retail Trust | 203,000 | 142,861 | ||||||
CSE Global, Ltd. | 163,000 | 76,474 | ||||||
CWT, Ltd. | 48,000 | 56,109 | ||||||
Ezion Holdings, Ltd. (b) | 424,000 | 728,273 | ||||||
Ezra Holdings, Ltd. (b) | 522,599 | 452,970 | ||||||
Far East Hospitality Trust | 453,000 | 295,384 | ||||||
First Real Estate Investment Trust | 568,616 | 486,074 | ||||||
Forterra Trust (a) | 32,000 | 45,803 | ||||||
Fortune Real Estate Investment Trust (b) | 169,000 | 130,502 | ||||||
Frasers Centrepoint Trust | 278,000 | 393,495 | ||||||
Frasers Commercial Trust | 167,000 | 166,661 | ||||||
Goodpack, Ltd. | 106,000 | 180,382 | ||||||
HanKore Environment Tech Group, Ltd (a) | 1,449,000 | 157,857 | ||||||
Haw Par Corp., Ltd. (b) | 31,986 | 212,384 | ||||||
Healthway Medical Corp., Ltd. (a) | 1,419,000 | 69,960 | ||||||
Hong Leong Finance, Ltd. | 1,683,656 | 3,668,417 | ||||||
Hyflux, Ltd. (b) | 325,000 | 316,588 | ||||||
IGG, Inc. (a) | 474,000 | 429,573 | ||||||
International Healthway Corp., Ltd. (a) | 170,000 | 43,259 | ||||||
Interra Resources, Ltd. (a) | 282,000 | 89,698 | ||||||
ISDN Holdings, Ltd. | 142,000 | 55,894 | ||||||
Jaya Holdings, Ltd. | 104,000 | 64,093 | ||||||
K1 Ventures, Ltd. | 277,000 | 43,173 | ||||||
Lian Beng Group, Ltd. | 115,000 | 55,783 | ||||||
LionGold Corp., Ltd. (a) | 446,000 | 53,199 | ||||||
Lippo Malls Indonesia Retail Trust | 1,300,000 | 413,502 | ||||||
M1, Ltd. | 316,000 | 871,949 | ||||||
Mapletree Commercial Trust (b) | 605,746 | 587,659 | ||||||
Mapletree Greater China Commercial Trust | 481,000 | 311,729 | ||||||
Mapletree Industrial Trust | 802,948 | 871,555 | ||||||
Mewah International, Inc. | 222,000 | 88,267 | ||||||
OM Holdings, Ltd. (a) | 95,456 | 27,427 | ||||||
OUE Commercial Real Estate Investment Trust (a) | 123,000 | 77,758 | ||||||
OUE Hospitality Trust | 14,333 | 9,631 | ||||||
OUE, Ltd. | 86,000 | 153,187 | ||||||
Oxley Holdings, Ltd. | 133,000 | 72,446 | ||||||
Pan-United Corp., Ltd. | 56,000 | 46,758 | ||||||
Parkway Life Real Estate Investment Trust | 266,000 | 516,115 | ||||||
Petra Foods, Ltd. | 77,000 | 225,939 | ||||||
Religare Health Trust | 147,000 | 99,360 | ||||||
Rotary Engineering, Ltd. | 100,000 | 54,869 | ||||||
Rowsley, Ltd. (a) | 609,000 | 130,754 | ||||||
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (b) | 414,000 | 339,088 | ||||||
Saizen REIT | 41,000 | 29,017 | ||||||
Sinarmas Land, Ltd. | 195,000 | 88,386 | ||||||
Singapore Post, Ltd. (b) | 660,000 | 713,769 | ||||||
Sino Grandness Food Industry Group, Ltd. (a) | 197,000 | 107,308 | ||||||
Soilbuild Business Space REIT | 271,000 | 168,089 |
See accompanying notes to financial statements.
178
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Stamford Land Corp., Ltd. | 64,000 | $ | 29,772 | |||||
Starhill Global REIT | 786,000 | 493,770 | ||||||
Super Group, Ltd. (b) | 122,000 | 337,609 | ||||||
Swiber Holdings, Ltd. (a) | 224,000 | 118,453 | ||||||
Tat Hong Holdings, Ltd. | 73,000 | 44,118 | ||||||
Technics Oil & Gas, Ltd. (a) | 115,000 | 66,757 | ||||||
Tiger Airways Holdings, Ltd. (a) | 191,000 | 61,512 | ||||||
Tuan Sing Holdings, Ltd. | 205,000 | 54,610 | ||||||
UMS Holdings, Ltd. | 276,000 | 175,579 | ||||||
United Engineers, Ltd. | 32,000 | 52,674 | ||||||
United Envirotech, Ltd. | 201,000 | 237,354 | ||||||
Venture Corp., Ltd. | 75,000 | 444,913 | ||||||
Wing Tai Holdings, Ltd. | 871,299 | 1,267,923 | ||||||
Yongnam Holdings, Ltd. | 481,000 | 86,060 | ||||||
24,022,384 | ||||||||
SOUTH KOREA — 7.3% | ||||||||
3S Korea Co., Ltd. (a) | 15,237 | 86,459 | ||||||
Able C&C Co., Ltd. | 7,069 | 217,824 | ||||||
Actoz Soft Co., Ltd. (a) | 959 | 33,470 | ||||||
Advanced Process Systems Corp. (a) | 5,817 | 47,544 | ||||||
Ahnlab, Inc. | 2,097 | 101,654 | ||||||
AJ Rent A Car Co., Ltd. (a) | 2,620 | 39,505 | ||||||
AK Holdings, Inc. | 1,667 | 89,109 | ||||||
Amicogen, Inc. (a) | 862 | 56,444 | ||||||
Aminologics Co., Ltd. (a) | 20,778 | 33,184 | ||||||
Asiana Airlines, Inc. (a) | 176,898 | 837,584 | ||||||
Binex Co., Ltd. (a) | 14,507 | 85,043 | ||||||
Binggrae Co., Ltd. | 3,903 | 337,335 | ||||||
Bioland, Ltd. | 3,573 | 46,154 | ||||||
Bioneer Corp. (a) | 3,334 | 49,018 | ||||||
Boryung Pharmaceutical Co., Ltd. | 2,980 | 108,203 | ||||||
Bukwang Pharmaceutical Co., Ltd. | 7,830 | 105,925 | ||||||
Celltrion Pharm, Inc. (a) | 7,154 | 75,945 | ||||||
Chabio & Diostech Co., Ltd. (a) | 33,073 | 399,256 | ||||||
Chemtronics Co., Ltd. | 2,257 | 35,622 | ||||||
Choa Pharmaceutical Co. (a) | 16,394 | 57,524 | ||||||
Chong Kun Dang Pharmaceutical Corp. | 3,345 | 247,626 | ||||||
Chongkundang Holdings Corp. | 1,944 | 103,734 | ||||||
CJ CGV Co., Ltd. | 6,640 | 324,374 | ||||||
CJ E&M Corp. (a) | 13,000 | 545,305 | ||||||
CJ Freshway Corp. (a) | 1,536 | 40,693 | ||||||
CJ Korea Express Corp. (a)(b) | 7,537 | 800,114 | ||||||
CJ O Shopping Co., Ltd. | 2,061 | 705,362 | ||||||
CNK International Co., Ltd. (a) | 16,071 | 51,333 | ||||||
Com2uSCorp (a) | 5,565 | 146,385 | ||||||
Corentec Co., Ltd. (a) | 2,464 | 44,560 | ||||||
Cosmax, Inc. (c) | 8,039 | 453,135 | ||||||
Crown Confectionery Co., Ltd. | 255 | 79,294 | ||||||
CrucialTec Co., Ltd. (a) | 5,764 | 68,500 | ||||||
CrystalGenomics, Inc. (a) | 4,846 | 56,680 | ||||||
CTC BIO, Inc. (a) | 6,192 | 106,744 | ||||||
D.I Corp. (a) | 9,020 | 108,889 | ||||||
Dae Han Flour Mills Co., Ltd. | 437 | 59,323 | ||||||
Daeduck GDS Co., Ltd. | 3,010 | 46,658 | ||||||
Daesang Corp. | 15,090 | 578,394 | ||||||
Daesang Holdings Co., Ltd. | 4,520 | 49,257 | ||||||
Daewon Pharmaceutical Co., Ltd. | 8,330 | 89,212 | ||||||
Daewoong Pharmaceutical Co., Ltd. | 1,670 | 109,979 | ||||||
Daou Technology, Inc. | 6,100 | 81,948 | ||||||
Daum Communications Corp. (b) | 14,980 | 1,100,508 | ||||||
DGB Financial Group, Inc. | 73,500 | 1,063,366 | ||||||
Digital Power Communications Co., Ltd. | 12,660 | 39,308 | ||||||
Dong-A Pharmaceutical Co., Ltd. | 3,911 | 440,904 | ||||||
Dong-A ST Co., Ltd. (b) | 6,502 | 714,673 | ||||||
Dongbu HiTek Co., Ltd. (a) | 6,650 | 41,857 | ||||||
DongKook Pharmaceutical Co., Ltd. | 2,886 | 93,538 | ||||||
Dongkuk Steel Mill Co., Ltd. | 37,000 | 432,759 | ||||||
Dongsuh Co., Inc. | 2,591 | 38,459 | ||||||
Dongsung Finetec Co., Ltd. | 3,928 | 45,020 | ||||||
Dongwha Pharm Co., Ltd. | 30,160 | 156,686 | ||||||
Dongwon F&B Co., Ltd. | 390 | 67,232 | ||||||
Duksan Hi-Metal Co., Ltd. (a) | 2,376 | 40,513 | ||||||
EG Corp. | 2,129 | 52,802 | ||||||
EM-Tech Co., Ltd. (a) | 4,301 | 43,436 | ||||||
Eo Technics Co., Ltd. | 1,751 | 83,565 | ||||||
Eugene Investment & Securities Co., Ltd. (a) | 183,519 | 439,639 | ||||||
Eugene Technology Co., Ltd. | 3,368 | 68,819 | ||||||
Fila Korea, Ltd. | 6,414 | 530,859 | ||||||
Gamevil, Inc. (a) | 963 | 61,248 | ||||||
GemVax & Kael Co., Ltd. (a)(b) | 12,523 | 158,236 | ||||||
Genic Co., Ltd. (a) | 2,510 | 47,514 | ||||||
Golfzon Co., Ltd. | 1,597 | 31,656 | ||||||
Grand Korea Leisure Co., Ltd. (b) | 20,820 | 855,724 | ||||||
Green Cross Cell Corp. (a) | 1,623 | 40,253 | ||||||
Green Cross Corp. | 4,707 | 557,172 | ||||||
Green Cross Holdings Corp. | 12,490 | 188,327 | ||||||
GS Engineering & Construction Corp. (a)(b) | 19,240 | 656,125 | ||||||
GS Global Corp. | 5,730 | 45,648 | ||||||
GS Home Shopping, Inc. | 777 | 172,999 | ||||||
Haansoft, Inc. | 5,992 | 131,723 | ||||||
Haesung Industrial Co., Ltd. | 598 | 32,135 | ||||||
Hana Tour Service, Inc. | 15,474 | 1,071,383 | ||||||
Hanall Biopharma Co., Ltd. (a) | 14,450 | 55,658 | ||||||
Hanil Cement Co., Ltd. | 1,288 | 156,092 | ||||||
Hanil E-Wha Co., Ltd. | 7,470 | 144,916 | ||||||
Hanjin Heavy Industries & Construction Co., Ltd. (a)(b) | 25,546 | 323,990 | ||||||
Hanjin Kal Corp. (a) | 7,860 | 173,526 | ||||||
Hanjin Shipping Co., Ltd. (a) | 53,828 | 325,158 | ||||||
Hanjin Shipping Holdings Co., Ltd. (a) | 11,070 | 63,126 | ||||||
Hanjin Transportation Co., Ltd. | 3,680 | 92,307 | ||||||
Hankook Shell Oil Co., Ltd. | 285 | 124,233 | ||||||
Hanmi Pharm Co., Ltd. (a)(b) | 7,692 | 823,794 | ||||||
Hanmi Pharm Co., Ltd. (a) | 8,030 | 102,219 | ||||||
Hanmi Semiconductor Co., Ltd. | 5,090 | 62,881 | ||||||
Hansae Co., Ltd. | 2,500 | 52,727 | ||||||
Hansol Chemical Co., Ltd. | 1,380 | 39,866 | ||||||
Hansol CSN Co., Ltd. | 24,190 | 68,631 | ||||||
Hansol Paper Co. | 63,349 | 720,112 | ||||||
Hansol Technics Co., Ltd. (a) | 2,940 | 58,554 | ||||||
Hanssem Co., Ltd. | 4,890 | 321,574 | ||||||
Hanwha Securities Co. (a) | 126,652 | 437,859 | ||||||
Harim Co., Ltd. (a) | 11,359 | 66,162 | ||||||
Heung-A Shipping Co., Ltd. | 36,840 | 46,031 |
See accompanying notes to financial statements.
179
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Hite Jinro Co., Ltd. (b) | 30,054 | $ | 663,506 | |||||
Humax Co., Ltd. | 49,676 | 611,354 | ||||||
Huons Co., Ltd. | 3,991 | 151,849 | ||||||
Hwa Shin Co., Ltd. | 2,980 | 34,435 | ||||||
Hyundai BNG Steel Co., Ltd. (a) | 2,280 | 41,340 | ||||||
Hyundai Corp. | 4,000 | 119,123 | ||||||
Hyundai Development Co. | 42,480 | 1,197,238 | ||||||
Hyundai Elevator Co., Ltd. (a) | 6,256 | 265,062 | ||||||
Hyundai Engineering Plastics Co., Ltd. | 4,700 | 30,908 | ||||||
Hyundai Greenfood Co., Ltd. | 40,140 | 648,605 | ||||||
Hyundai Home Shopping Network Corp. | 3,747 | 550,900 | ||||||
Hyundai Hy Communications & Networks Co., Ltd. | 6,870 | 33,626 | ||||||
Hyundai Hysco Co., Ltd. | 1,940 | 100,240 | ||||||
Hyundai Securities Co., Ltd. (a)(b) | 80,690 | 489,696 | ||||||
i-SENS, Inc. (a) | 1,560 | 77,674 | ||||||
Il Dong Pharmaceutical Co., Ltd. | 8,640 | 108,360 | ||||||
Iljin Display Co., Ltd. | 5,260 | 78,570 | ||||||
Ilyang Pharmaceutical Co., Ltd. (a) | 3,660 | 89,398 | ||||||
iMarketKorea, Inc. | 7,660 | 236,395 | ||||||
Infraware, Inc. (a) | 7,523 | 61,487 | ||||||
InkTec Co., Ltd. (a) | 1,572 | 30,939 | ||||||
Innox Corp. (a) | 3,215 | 67,505 | ||||||
Interpark Corp. | 8,176 | 93,708 | ||||||
iNtRON Biotechnology, Inc. (a) | 4,293 | 61,101 | ||||||
JB Financial Group Co., Ltd. (b) | 266,061 | 1,792,153 | ||||||
Jeil Pharmaceutical Co. | 6,410 | 101,770 | ||||||
JoyCity Corp. (a) | 1,354 | 32,818 | ||||||
Jusung Engineering Co., Ltd. (a) | 6,279 | 33,505 | ||||||
JW Pharmaceutical Corp. | 8,100 | 128,602 | ||||||
JYP Entertainment Corp. (a) | 11,353 | 61,327 | ||||||
KC Green Holdings Co., Ltd. | 5,010 | 52,009 | ||||||
KCP Co., Ltd. | 5,438 | 69,990 | ||||||
Kginicis Co., Ltd. | 4,968 | 79,576 | ||||||
KGMobilians Co., Ltd. | 2,708 | 41,086 | ||||||
KH Vatec Co., Ltd. | 4,313 | 82,455 | ||||||
Koh Young Technology, Inc. | 2,601 | 52,291 | ||||||
Kolao Holdings (b) | 7,753 | 180,268 | ||||||
Kolon Industries, Inc. | 4,174 | 213,317 | ||||||
Kolon Life Science, Inc. | 1,773 | 94,609 | ||||||
Komipharm International Co., Ltd. (a) | 13,231 | 100,931 | ||||||
KONA I Co., Ltd. (b) | 4,494 | 151,777 | ||||||
Korea Electric Terminal Co., Ltd. | 2,470 | 102,216 | ||||||
Korea Investment Holdings Co., Ltd. | 25,220 | 871,902 | ||||||
Korea Kolmar Co., Ltd. | 3,900 | 109,916 | ||||||
Korea Line Corp. (a) | 3,850 | 79,752 | ||||||
Korea Petrochemical Ind Co., Ltd. | 624 | 44,846 | ||||||
Korea Real Estate Investment & Trust Co. | 50,572 | 98,108 | ||||||
Korea United Pharm, Inc. | 6,300 | 68,359 | ||||||
Korean Air Lines Co., Ltd. (a) | 14,090 | 510,282 | ||||||
Korean Reinsurance Co. | 120,938 | 1,170,239 | ||||||
Kortek Corp. | 6,067 | 80,365 | ||||||
KT Skylife Co., Ltd. | 14,448 | 323,721 | ||||||
Ktis Corp. | 12,510 | 57,587 | ||||||
Kumho Industrial Co., Ltd. (a) | 7,300 | 88,811 | ||||||
Kumho Tire Co., Inc. (a)(b) | 59,320 | 741,187 | ||||||
Kwang Dong Pharmaceutical Co., Ltd. | 16,740 | 126,283 | ||||||
KyungDong City Gas Co., Ltd. | 472 | 48,333 | ||||||
Kyungdong Pharm Co., Ltd. | 6,637 | 120,650 | ||||||
LEENO Industrial, Inc. | 3,113 | 86,858 | ||||||
LG Fashion Corp. | 11,980 | 314,004 | ||||||
LG Hausys, Ltd. | 2,192 | 327,425 | ||||||
LG Innotek Co., Ltd. (a)(b) | 5,190 | 502,203 | ||||||
LG International Corp. | 35,528 | 941,227 | ||||||
LG Life Sciences, Ltd. (a)(b) | 26,471 | 947,480 | ||||||
LIG Insurance Co., Ltd. | 37,470 | 1,101,800 | ||||||
Lock & Lock Co., Ltd. | 3,060 | 45,708 | ||||||
Logistics Energy Korea Co., Ltd. (a) | 20,680 | 36,913 | ||||||
Lotte Chilsung Beverage Co., Ltd. | 423 | 592,903 | ||||||
Lotte Confectionery Co., Ltd. | 144 | 246,617 | ||||||
LOTTE Himart Co., Ltd. | 4,074 | 277,099 | ||||||
Lotte Samkang Co., Ltd. | 703 | 521,744 | ||||||
LS Industrial Systems Co., Ltd. | 10,517 | 663,951 | ||||||
LS Uplus Corp. | 8,159 | 584,839 | ||||||
Lumens Co., Ltd. (a) | 14,371 | 179,562 | ||||||
Macquarie Korea Infrastructure Fund | 109,380 | 664,840 | ||||||
Macrogen, Inc. (a) | 2,030 | 75,807 | ||||||
Maeil Dairy Industry Co., Ltd. | 1,369 | 56,396 | ||||||
Mando Corp. | 5,270 | 668,373 | ||||||
Medifron DBT Co., Ltd. (a) | 17,230 | 51,474 | ||||||
Medipost Co., Ltd. (a)(b) | 5,363 | 351,672 | ||||||
Medy-Tox, Inc. | 2,381 | 323,223 | ||||||
MegaStudy Co., Ltd. | 6,083 | 406,886 | ||||||
Melfas, Inc. (a)(b) | 14,154 | 134,300 | ||||||
Meritz Finance Holdings Co., Ltd. | 8 | 59 | ||||||
Meritz Fire & Marine Insurance Co., Ltd. | 90,818 | 1,266,990 | ||||||
Meritz Securities Co., Ltd. | 398,687 | 853,968 | ||||||
Mirae Asset Securities Co., Ltd. | 17,067 | 662,189 | ||||||
Mirae Corp. (a) | 163,980 | 40,207 | ||||||
Modetour Network, Inc. | 2,805 | 64,430 | ||||||
Muhak Co., Ltd. (a) | 3,950 | 86,834 | ||||||
Naturalendo Tech Co., Ltd. (a) | 3,108 | 178,401 | ||||||
Neowiz Games Corp. (a) | 11,274 | 173,169 | ||||||
NEPES Corp. (a) | 5,313 | 39,980 | ||||||
NICE Holdings Co., Ltd. | 4,890 | 63,626 | ||||||
NongShim Co., Ltd. | 2,621 | 734,998 | ||||||
Opto Device Technology Co., Ltd. | 4,241 | 51,795 | ||||||
Osstem Implant Co., Ltd. (a) | 2,780 | 60,069 | ||||||
Ottogi Corp. | 692 | 243,138 | ||||||
Pan Ocean Co., Ltd. (a) | 9 | 40 | ||||||
Paradise Co., Ltd. | 33,530 | 1,022,170 | ||||||
Partron Co., Ltd. (b) | 23,550 | 292,038 | ||||||
Pharmicell Co., Ltd. (a) | 8,960 | 32,239 | ||||||
Poongsan Corp. | 40,943 | 980,832 | ||||||
Posco ICT Co., Ltd. | 7,233 | 60,340 | ||||||
Power Logics Co., Ltd. (a) | 14,190 | 62,455 | ||||||
Redrover Co., Ltd. (a) | 9,588 | 62,332 | ||||||
S&T Dynamics Co., Ltd. | 6,670 | 76,134 | ||||||
S-Energy Co., Ltd. | 4,773 | 51,342 | ||||||
Sajo Industries Co., Ltd. (a) | 1,120 | 33,460 | ||||||
Sam Yung Trading Co., Ltd. | 5,400 | 106,280 | ||||||
Samchully Co., Ltd. | 450 | 59,185 | ||||||
Samchuly Bicycle Co., Ltd. | 5,053 | 85,210 | ||||||
Samjin Pharmaceutical Co., Ltd. | 9,770 | 163,835 | ||||||
Samsung Fine Chemicals Co., Ltd. (b) | 30,940 | 1,421,359 |
See accompanying notes to financial statements.
180
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
SAMT Co., Ltd. (a) | 32,418 | $ | 60,453 | |||||
Samyang Holdings Corp. | 4,662 | 312,712 | ||||||
Sapphire Technology Co., Ltd. (a) | 2,440 | 104,986 | ||||||
SeAH Steel Corp. | 600 | 60,595 | ||||||
Sebang Co., Ltd. | 2,380 | 41,588 | ||||||
Seegene, Inc. (a) | 2,315 | 115,701 | ||||||
SEOWONINTECH Co., Ltd. | 2,657 | 35,445 | ||||||
SFA Engineering Corp. | 26,184 | 1,081,109 | ||||||
Shine Co., Ltd. (a) | 6,457 | 81,892 | ||||||
Shinsegae Co., Ltd. | 1,657 | 358,813 | ||||||
Silicon Works Co., Ltd. | 1,700 | 36,653 | ||||||
Silla Co., Ltd. | 1,450 | 38,550 | ||||||
Sindoh Co., Ltd. | 780 | 46,604 | ||||||
SK Broadband Co., Ltd. (a) | 160,980 | 635,179 | ||||||
SK Chemicals Co., Ltd. | 17,178 | 1,015,075 | ||||||
SK Communications Co., Ltd. (a) | 5,331 | 36,059 | ||||||
SK Networks Co., Ltd. (a) | 40,800 | 362,599 | ||||||
SM Culture & Contents Co., Ltd. (a) | 14,235 | 51,018 | ||||||
SM Entertainment Co. (a)(b) | 8,615 | 382,412 | ||||||
Soulbrain Co., Ltd. | 1,647 | 59,338 | ||||||
STX Offshore & Shipbuilding Co., Ltd. (a)(b) | 16,653 | 86,828 | ||||||
Suheung Capsule Co., Ltd. | 1,560 | 55,984 | ||||||
Sungwoo Hitech Co., Ltd. | 5,208 | 82,686 | ||||||
Suprema, Inc. (a) | 2,991 | 67,578 | ||||||
Synopex, Inc. (a) | 27,536 | 50,703 | ||||||
Taekwang Industrial Co., Ltd. | 504 | 648,673 | ||||||
Taihan Electric Wire Co., Ltd. (a) | 27,060 | 53,385 | ||||||
Tera Semicon Co., Ltd. (a) | 2,417 | 37,012 | ||||||
The Basic House Co., Ltd. | 1,800 | 37,540 | ||||||
Tong Yang Securities, Inc. (a)(b) | 91,980 | 209,546 | ||||||
Tovis Co., Ltd. | 6,895 | 40,808 | ||||||
Value Added Technologies Co., Ltd. | 3,296 | 42,576 | ||||||
Vieworks Co., Ltd. | 1,496 | 36,963 | ||||||
ViroMed Co., Ltd. (a) | 4,844 | 228,901 | ||||||
WeMade Entertainment Co., Ltd. (a) | 2,184 | 98,074 | ||||||
Whanin Pharmaceutical Co., Ltd. | 8,330 | 98,212 | ||||||
Wins Technet Co., Ltd. | 3,929 | 51,675 | ||||||
WiSoL Co., Ltd. (a) | 4,650 | 53,732 | ||||||
Wonik IPS Co., Ltd. (a) | 17,190 | 144,051 | ||||||
Woojeon & Handan Co., Ltd. | 8,280 | 52,506 | ||||||
Woongjin Chemical Co., Ltd. (a) | 2,900 | 38,142 | ||||||
Woongjin Thinkbig Co., Ltd. (a) | 6,370 | 42,130 | ||||||
Wooree ETI Co., Ltd. | 11,894 | 30,840 | ||||||
Woori Investment & Securities Co., Ltd. | 3 | 25 | ||||||
YG Entertainment, Inc. | 1,491 | 88,806 | ||||||
Young Poong Corp. | 566 | 627,441 | ||||||
Youngone Corp. | 4,780 | 177,603 | ||||||
Yuhan Corp. | 9,618 | 1,639,971 | ||||||
Yungjin Pharmaceutical Co., Ltd. (a) | 51,580 | 89,403 | ||||||
64,258,846 | ||||||||
SPAIN — 1.1% | ||||||||
Abengoa SA | 92,787 | 519,463 | ||||||
Construcciones y Auxiliar de Ferrocarriles SA | 2,396 | 1,229,936 | ||||||
Faes Farma SA | 240,709 | 827,734 | ||||||
Gamesa Corp. Tecnologica SA (a) | 91,419 | 992,866 | ||||||
Inmobiliaria Colonial SA (a) | 20,248 | 52,186 | ||||||
Let’s GOWEX SA | 10,029 | 343,903 | ||||||
NH Hoteles SA (a) | 18,666 | 132,748 | ||||||
Promotora de Informaciones SA (Class A) (a) | 175,677 | 101,693 | ||||||
Sacyr SA (a) | 94,658 | 628,829 | ||||||
Tubacex SA | 171,598 | 789,926 | ||||||
Tubos Reunidos SA | 230,339 | 652,390 | ||||||
Vidrala SA | 54,547 | 2,931,244 | ||||||
Zeltia SA (a) | 188,194 | 691,243 | ||||||
9,894,161 | ||||||||
SWEDEN — 2.7% | ||||||||
AarhusKarlshamn AB | 21,124 | 1,384,689 | ||||||
AddTech AB | 4,110 | 64,500 | ||||||
Arcam AB (a) | 5,127 | 155,782 | ||||||
Avanza Bank Holding AB | 3,026 | 115,980 | ||||||
Axfood AB (b) | 16,955 | 936,198 | ||||||
Axis Communications AB (b) | 28,786 | 983,871 | ||||||
B&B Tools AB (Class B) | 2,183 | 40,067 | ||||||
Betsson AB | 26,359 | 957,430 | ||||||
BillerudKorsnas AB | 90,692 | 1,251,927 | ||||||
BioGaia AB (Class B) | 2,064 | 67,648 | ||||||
Clas Ohlson AB (Class B) | 8,118 | 171,537 | ||||||
D. Carnegie Co. & AB (a)(c) | 30 | 0 | ||||||
Eniro AB (a) | 37,086 | 331,761 | ||||||
Fabege AB (b) | 87,946 | 1,144,842 | ||||||
Fingerprint Cards AB (Class B) (a) | 20,000 | 166,575 | ||||||
Haldex AB | 100,350 | 1,172,431 | ||||||
Hexpol AB | 4,727 | 415,938 | ||||||
Holmen AB (Class B) | 8,226 | 301,328 | ||||||
Indutrade AB | 1,419 | 67,628 | ||||||
Intrum Justitia AB | 55,108 | 1,501,041 | ||||||
JM AB | 32,262 | 1,056,898 | ||||||
Kungsleden AB | 174,107 | 1,436,670 | ||||||
Lindab International AB (a) | 3,493 | 41,995 | ||||||
Loomis AB (Class B) | 4,496 | 115,459 | ||||||
Medivir AB (Class B) (a) | 8,140 | 143,753 | ||||||
NCC AB (Class B) (b) | 16,210 | 585,541 | ||||||
Net Entertainment NE AB (Class B) | 3,394 | 80,616 | ||||||
New Wave Group AB (Class B) | 200,352 | 1,412,203 | ||||||
Nibe Industrier AB (Class B) | 17,989 | 461,964 | ||||||
Nobia AB | 102,030 | 900,929 | ||||||
Opus Group AB | 66,189 | 112,296 | ||||||
Orexo AB (a) | 5,936 | 120,166 | ||||||
Peab AB | 18,229 | 128,601 | ||||||
Saab AB | 20,440 | 622,953 | ||||||
SAS AB (a)(b) | 48,682 | 107,748 | ||||||
Swedish Orphan Biovitrum AB (a) | 124,124 | 1,357,341 | ||||||
Vostok Nafta Investment, Ltd. ADR (a) | 6,625 | 51,602 | ||||||
Wihlborgs Fastigheter AB | 197,220 | 3,832,734 | ||||||
23,800,642 | ||||||||
SWITZERLAND — 2.8% | ||||||||
Autoneum Holding AG | 1,030 | 237,051 | ||||||
Basilea Pharmaceutica AG (a) | 9,185 | 1,049,150 | ||||||
Belimo Holding AG | 1,475 | 4,089,291 | ||||||
Bossard Holding AG | 355 | 101,876 | ||||||
Burckhardt Compression Holding AG | 355 | 184,864 | ||||||
Comet Holding AG | 226 | 138,668 |
See accompanying notes to financial statements.
181
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Daetwyler Holding AG (b) | 12,699 | $ | 1,998,258 | |||||
Evolva Holding SA (a) | 111,445 | 172,842 | ||||||
Forbo Holding AG | 877 | 921,329 | ||||||
Gategroup Holding AG (a) | 4,845 | 142,605 | ||||||
Georg Fischer AG | 1,420 | 1,101,953 | ||||||
Huber & Suhner AG | 1,247 | 67,690 | ||||||
Implenia AG | 1,260 | 94,284 | ||||||
Kaba Holding AG (Class B) | 486 | 232,175 | ||||||
Kudelski SA | 68,674 | 995,106 | ||||||
Kuoni Reisen Holding (Class B) | 4,383 | 1,969,832 | ||||||
Leonteq AG | 1,449 | 300,839 | ||||||
Logitech International SA | 89,440 | 1,336,512 | ||||||
Meyer Burger Technology AG (a) | 40,354 | 655,550 | ||||||
Mobimo Holding AG | 3,284 | 697,062 | ||||||
Nobel Biocare Holding AG (b) | 77,791 | 1,118,408 | ||||||
Orascom Development Holding AG (a) | 3,985 | 63,834 | ||||||
Rieter Holding AG | 308 | 68,619 | ||||||
Schmolz + Bickenbach AG (a)(b) | 195,891 | 272,764 | ||||||
Schweizerische National-Versicherungs-Gesellschaft AG | 4,487 | 306,803 | ||||||
Tecan Group AG | 1,968 | 236,156 | ||||||
Temenos Group AG | 59,645 | 2,099,914 | ||||||
U-Blox AG | 2,453 | 337,119 | ||||||
Valiant Holding AG | 7,015 | 706,384 | ||||||
Valora Holding AG | 8,478 | 2,380,194 | ||||||
24,077,132 | ||||||||
UNITED ARAB EMIRATES — 0.0% (d) | ||||||||
Polarcus, Ltd. (a) | 61,335 | 47,637 | ||||||
UNITED KINGDOM — 11.3% | ||||||||
A.G.BARR PLC | 48,838 | 496,664 | ||||||
African Barrick Gold, Ltd. | 40,703 | 178,806 | ||||||
Air Berlin PLC (a)(b) | 22,747 | 54,864 | ||||||
Alent PLC | 46,608 | 246,317 | ||||||
Amarin Corp. PLC, ADR (a)(b) | 69,630 | 126,030 | ||||||
APR Energy PLC (b) | 14,008 | 188,112 | ||||||
Asia Resource Minerals PLC (a) | 14,336 | 55,150 | ||||||
Atkins WS PLC | 41,622 | 965,217 | ||||||
Aveva Group PLC | 26,066 | 909,967 | ||||||
Bellway PLC | 27,286 | 755,132 | ||||||
Betfair Group PLC | 6,648 | 122,580 | ||||||
Big Yellow Group PLC | 16,101 | 146,696 | ||||||
Bodycote PLC | 160,606 | 2,160,777 | ||||||
Bovis Homes Group PLC | 124,567 | 1,859,702 | ||||||
Brammer PLC | 7,141 | 58,276 | ||||||
Brewin Dolphin Holdings PLC | 30,501 | 171,872 | ||||||
Britvic PLC | 108,398 | 1,340,911 | ||||||
BTG PLC (a) | 61,447 | 555,744 | ||||||
Cable & Wireless Communications PLC | 1,378,313 | 1,208,672 | ||||||
Carillion PLC (b) | 222,346 | 1,340,394 | ||||||
Centamin PLC (a) | 488,775 | 413,135 | ||||||
Chemring Group PLC | 202,479 | 877,664 | ||||||
Cineworld Group PLC | 47,566 | 246,424 | ||||||
Clarkson PLC | 3,937 | 160,676 | ||||||
Computacenter PLC | 6,660 | 73,115 | ||||||
Countrywide PLC | 28,406 | 309,952 | ||||||
Cranswick PLC | 3,914 | 79,803 | ||||||
Crest Nicholson Holdings PLC | 33,973 | 222,758 | ||||||
CSR PLC | 114,616 | 1,386,300 | ||||||
Dairy Crest Group PLC | 182,190 | 1,468,877 | ||||||
Darty PLC | 370,691 | 726,147 | ||||||
De La Rue PLC | 39,475 | 536,029 | ||||||
Dechra Pharmaceuticals PLC | 7,214 | 80,339 | ||||||
Development Securities PLC | 13,762 | 53,687 | ||||||
Devro PLC | 37,768 | 148,597 | ||||||
Dialight PLC | 7,310 | 110,596 | ||||||
Diploma PLC | 25,494 | 304,954 | ||||||
Domino Printing Sciences PLC | 8,296 | 108,778 | ||||||
Domino’s Pizza UK & IRL PLC | 58,541 | 538,245 | ||||||
Dunelm Group PLC | 41,889 | 660,292 | ||||||
Electrocomponents PLC | 42,323 | 199,681 | ||||||
Elementis PLC | 435,232 | 2,078,836 | ||||||
EnQuest PLC (a) | 314,763 | 650,699 | ||||||
Enterprise Inns PLC (a) | 456,728 | 1,114,740 | ||||||
esure Group PLC | 30,718 | 143,239 | ||||||
F&C Asset Management PLC | 141,243 | 287,277 | ||||||
Fenner PLC | 174,765 | 1,161,359 | ||||||
Fidessa Group PLC | 6,359 | 268,958 | ||||||
Fortune Oil PLC | 427,605 | 87,328 | ||||||
Foxtons Group PLC (a) | 46,673 | 279,730 | ||||||
Galliford Try PLC | 117,532 | 2,600,170 | ||||||
Gem Diamonds, Ltd. (a) | 101,897 | 293,888 | ||||||
Genus PLC | 35,508 | 586,052 | ||||||
Go-Ahead Group PLC | 5,428 | 168,588 | ||||||
Grainger PLC | 60,947 | 244,875 | ||||||
Greggs PLC | 15,438 | 130,103 | ||||||
Halfords Group PLC | 90,691 | 698,221 | ||||||
Hansteen Holdings PLC | 48,888 | 89,002 | ||||||
Henderson Group PLC | 149,392 | 655,772 | ||||||
Heritage Oil PLC (a) | 128,149 | 507,404 | ||||||
Hochschild Mining PLC | 23,440 | 65,944 | ||||||
Home Retail Group PLC | 383,206 | 1,383,775 | ||||||
Homeserve PLC | 143,383 | 752,979 | ||||||
Howden Joinery Group PLC | 175,733 | 1,090,154 | ||||||
Hunting PLC | 67,100 | 963,724 | ||||||
Hyder Consulting PLC | 7,248 | 51,355 | ||||||
Imagination Technologies Group PLC (a)(b) | 68,452 | 231,891 | ||||||
Intermediate Capital Group PLC | 148,745 | 1,025,894 | ||||||
International Personal Finance PLC | 44,246 | 377,675 | ||||||
Interserve PLC | 165,210 | 2,010,638 | ||||||
IP Group PLC (a) | 124,432 | 431,074 | ||||||
ITE Group PLC | 322,606 | 1,027,260 | ||||||
J.D. Wetherspoon PLC | 150,952 | 2,155,465 | ||||||
James Fisher & Sons PLC | 7,156 | 174,538 | ||||||
Johnston Press PLC (a) | 140,078 | 51,377 | ||||||
Jupiter Fund Management PLC | 109,392 | 730,951 | ||||||
Kcom Group PLC | 31,377 | 51,892 | ||||||
Keller Group PLC | 58,884 | 1,054,329 | ||||||
Kier Group PLC | 60,940 | 1,680,400 | ||||||
Laird PLC | 211,308 | 1,057,903 | ||||||
Lavendon Group PLC | 37,657 | 150,672 | ||||||
Londonmetric Property PLC | 105,451 | 249,112 | ||||||
Marshalls PLC | 12,332 | 36,390 | ||||||
Marston’s PLC | 63,499 | 152,442 | ||||||
Mcbride PLC | 154,521 | 273,066 |
See accompanying notes to financial statements.
182
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Michael Page International PLC | 173,447 | $ | 1,419,208 | |||||
Micro Focus International PLC | 77,332 | 1,070,714 | ||||||
Mitchells & Butlers PLC (a) | 172,686 | 1,312,219 | ||||||
Mitie Group PLC (b) | 522,209 | 2,833,806 | ||||||
Moneysupermarket.com Group PLC | 90,441 | 282,107 | ||||||
Morgan Crucible Co. PLC | 321,655 | 1,920,301 | ||||||
Morgan Sindall PLC | 69,208 | 881,504 | ||||||
Mucklow A & J Group PLC | 11,173 | 83,077 | ||||||
N Brown Group PLC | 144,553 | 1,377,267 | ||||||
National Express Group PLC | 215,377 | 1,005,743 | ||||||
NCC Group PLC | 44,263 | 138,362 | ||||||
NMC Health PLC | 7,708 | 64,830 | ||||||
Northgate PLC | 21,779 | 188,806 | ||||||
Oxford Immunotec Global PLC (a) | 2,859 | 57,380 | ||||||
Oxford Instruments PLC | 16,434 | 347,132 | ||||||
Pace PLC | 181,904 | 1,366,495 | ||||||
Paragon Group of Cos PLC | 42,438 | 291,492 | ||||||
PayPoint PLC | 100,971 | 1,927,422 | ||||||
Pendragon PLC | 150,656 | 75,978 | ||||||
Petra Diamonds, Ltd. (a) | 26,634 | 66,249 | ||||||
Petropavlovsk PLC (b) | 79,908 | 102,911 | ||||||
Photo-Me International PLC | 32,804 | 74,241 | ||||||
Premier Farnell PLC | 483,759 | 1,886,401 | ||||||
Premier Foods PLC (a) | 241,941 | 64,536 | ||||||
Premier Foods PLC (a)(b) | 211,814 | 235,711 | ||||||
QinetiQ Group PLC | 286,083 | 1,077,415 | ||||||
Redrow PLC (b) | 259,533 | 1,408,808 | ||||||
Regus PLC | 277,860 | 1,020,968 | ||||||
Renishaw PLC (b) | 20,059 | 652,107 | ||||||
Renold PLC (a) | 55,197 | 51,302 | ||||||
Restaurant Group PLC | 259,186 | 3,080,887 | ||||||
Ricardo PLC | 6,654 | 72,050 | ||||||
RPC Group PLC | 11,284 | 118,799 | ||||||
RPS Group PLC | 242,464 | 1,263,604 | ||||||
Safestore Holdings PLC | 46,339 | 183,092 | ||||||
Salamander Energy PLC (a) | 142,001 | 240,288 | ||||||
SDL PLC | 8,719 | 49,567 | ||||||
Senior PLC | 548,159 | 2,810,130 | ||||||
Shanks Group PLC | 435,785 | 804,620 | ||||||
SIG PLC | 330,176 | 1,106,961 | ||||||
Smiths News PLC | 14,646 | 37,053 | ||||||
SOCO International PLC | 109,439 | 722,507 | ||||||
Speedy Hire PLC | 151,030 | 149,815 | ||||||
Spirent Communications PLC | 353,681 | 582,858 | ||||||
Spirit Pub Co. PLC | 347,998 | 471,384 | ||||||
ST Modwen Properties PLC | 9,090 | 60,618 | ||||||
Stobart Group, Ltd. | 55,035 | 120,883 | ||||||
Stolt-Nielsen, Ltd. | 1,558 | 45,280 | ||||||
SuperGroup PLC (a) | 5,328 | 151,626 | ||||||
SVG Capital PLC (a) | 19,023 | 133,041 | ||||||
Synergy Health PLC | 6,930 | 159,436 | ||||||
Synthomer PLC | 134,203 | 633,622 | ||||||
Ted Baker PLC | 2,094 | 74,987 | ||||||
Telecom Plus PLC | 23,312 | 695,288 | ||||||
Topps Tiles PLC | 27,727 | 63,791 | ||||||
Trinity Mirror PLC (a) | 100,500 | 323,369 | ||||||
Tritax Big Box REIT PLC (a) | 46,384 | 82,452 | ||||||
Tullett Prebon PLC | 233,377 | 1,096,801 | ||||||
Tyman PLC | 45,297 | 226,551 | ||||||
Ultra Electronics Holdings PLC | 53,742 | 1,603,768 | ||||||
Unite Group PLC | 329,600 | 2,384,798 | ||||||
Vectura Group PLC (a) | 113,367 | 289,642 | ||||||
Victrex PLC | 54,618 | 1,829,323 | ||||||
WH Smith PLC | 118,579 | 2,378,199 | ||||||
Wincanton PLC (a) | 241,629 | 451,172 | ||||||
Workspace Group PLC | 15,328 | 151,408 | ||||||
Xaar PLC | 29,445 | 460,457 | ||||||
Xchanging PLC | 12,252 | 33,907 | ||||||
99,353,599 | ||||||||
UNITED STATES — 0.1% | ||||||||
Diligent Board Member Services, Inc. (a) | 25,719 | 92,618 | ||||||
Kofax, Ltd. (a) | 12,127 | 100,077 | ||||||
Magnachip Semiconductor Corp. (a) | 3,124 | 43,548 | ||||||
Protalix BioTherapeutics, Inc. (a) | 27,760 | 125,909 | ||||||
362,152 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $826,460,257) | 870,646,883 | |||||||
PREFERRED STOCKS — 0.0% (d) | ||||||||
GERMANY — 0.0% (d) | ||||||||
Jungheinrich AG (Cost $118,017) | 1,954 | 148,094 | ||||||
SHORT TERM INVESTMENTS — 11.0% | ||||||||
UNITED STATES — 11.0% | ||||||||
MONEY MARKET FUNDS — 11.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (g)(h) | 94,883,675 | 94,883,675 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (h)(i) | 1,549,603 | 1,549,603 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $96,433,278) | 96,433,278 | |||||||
TOTAL INVESTMENTS — 110.3% | ||||||||
(Cost $923,011,552) | 967,228,255 | |||||||
OTHER ASSETS & LIABILITIES — (10.3)% | (90,097,193 | ) | ||||||
NET ASSETS — 100.0% | $ | 877,131,062 | ||||||
See accompanying notes to financial statements.
183
SPDR S&P International Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs (Note 2). | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 3 inputs (Note 2). | |||||
(f) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 0.0% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(g) | Investments of cash collateral for securities loaned | |||||
(h) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(i) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
REIT = Real Estate Investment Trust
SCA = Societe en Commandite par Actions
SDR = Swedish Depositary Receipt
See accompanying notes to financial statements.
184
SPDR Dow Jones International Real Estate ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.6% | ||||||||
AUSTRALIA — 13.4% | ||||||||
Abacus Property Group | 3,123,641 | $ | 6,803,596 | |||||
Astro Japan Property Group | 757,838 | 2,634,009 | ||||||
BWP Trust (a) | 5,159,907 | 11,143,134 | ||||||
CFS Retail Property Trust Group | 26,163,212 | 45,831,325 | ||||||
Charter Hall Retail REIT | 3,235,245 | 10,734,943 | ||||||
Dexus Property Group | 59,245,114 | 58,206,027 | ||||||
Goodman Group | 16,258,691 | 71,278,125 | ||||||
GPT Group (a) | 16,527,674 | 56,066,361 | ||||||
Investa Office Fund | 6,444,917 | 19,354,051 | ||||||
Westfield Group | 20,547,427 | 195,204,965 | ||||||
Westfield Retail Trust | 31,670,908 | 87,475,479 | ||||||
564,732,015 | ||||||||
AUSTRIA — 1.8% | ||||||||
Atrium European Real Estate, Ltd. (b) | 1,852,941 | 10,457,873 | ||||||
CA Immobilien Anlagen AG (a)(b) | 757,198 | 13,686,917 | ||||||
IMMOFINANZ AG (b) | 11,221,591 | 52,600,386 | ||||||
76,745,176 | ||||||||
BELGIUM — 0.8% | ||||||||
Befimmo SA (a) | 194,069 | 13,764,290 | ||||||
Cofinimmo (a) | 168,726 | 20,112,950 | ||||||
33,877,240 | ||||||||
BRAZIL — 1.0% | ||||||||
BR Malls Participacoes SA | 4,854,040 | 42,119,257 | ||||||
CANADA — 9.6% | ||||||||
Artis REIT | 652,545 | 9,299,690 | ||||||
Boardwalk REIT | 272,097 | 14,949,003 | ||||||
Brookfield Asset Management, Inc. (Class A) (a) | 6,013,764 | 245,345,226 | ||||||
Calloway REIT | 690,146 | 16,107,054 | ||||||
Canadian Apartment Properties REIT | 568,841 | 10,987,715 | ||||||
Canadian REIT | 353,654 | 14,440,938 | ||||||
Chartwell Retirement Residences | 890,309 | 8,396,935 | ||||||
Crombie Real Estate Investment Trust (b)(c) | 270,074 | 3,144,499 | ||||||
Crombie Real Estate Investment Trust (c) | 110,067 | 1,329,280 | ||||||
First Capital Realty, Inc. (a) | 1,015,557 | 16,147,701 | ||||||
H&R REIT | 1,401,536 | 29,027,509 | ||||||
RioCan REIT | 1,568,927 | 37,853,251 | ||||||
407,028,801 | ||||||||
CHINA — 2.5% | ||||||||
Hongkong Land Holdings, Ltd. | 12,437,000 | 80,467,390 | ||||||
Kerry Properties, Ltd. | 7,796,670 | 25,931,776 | ||||||
106,399,166 | ||||||||
FRANCE — 9.6% | ||||||||
Fonciere Des Regions | 466,394 | 43,222,365 | ||||||
Gecina SA | 278,029 | 36,978,158 | ||||||
Klepierre | 1,033,674 | 46,272,981 | ||||||
Mercialys SA | 583,830 | 12,230,884 | ||||||
Unibail-Rodamco SE | 1,027,514 | 266,948,182 | ||||||
405,652,570 | ||||||||
HONG KONG — 7.5% | ||||||||
Champion REIT | 27,654,174 | 12,620,232 | ||||||
Hang Lung Group, Ltd. | 8,994,808 | 45,281,035 | ||||||
Hang Lung Properties, Ltd. | 24,152,755 | 69,434,442 | ||||||
Hysan Development Co., Ltd. | 7,426,846 | 32,313,322 | ||||||
Kerry Logistics Network, Ltd. (b) | 250 | 367 | ||||||
Prosperity REIT (a) | 12,981,000 | 3,748,518 | ||||||
The Link REIT | 24,426,355 | 120,131,421 | ||||||
Wheelock & Co., Ltd. | 8,598,545 | 33,586,984 | ||||||
317,116,321 | ||||||||
ITALY — 0.2% | ||||||||
Beni Stabili SpA (a) | 8,648,347 | 7,449,738 | ||||||
JAPAN — 21.2% | ||||||||
Activia Properties, Inc. | 2,445 | 19,681,556 | ||||||
Aeon Mall Co., Ltd. | 1,205,540 | 30,856,954 | ||||||
Daibiru Corp. | 606,200 | 6,474,923 | ||||||
Daiwa Office Investment Corp. (a) | 2,450 | 11,859,251 | ||||||
Frontier Real Estate Investment Corp. (a) | 4,882 | 26,025,324 | ||||||
Fukuoka REIT Corp. (a) | 6,148 | 9,903,901 | ||||||
Global One Real Estate Investment Co., Ltd. (a) | 1,932 | 5,684,284 | ||||||
Hankyu REIT, Inc. | 976 | 4,947,051 | ||||||
Heiwa Real Estate Co., Ltd. | 368,500 | 5,896,859 | ||||||
Hulic Co., Ltd. | 4,032,790 | 55,370,831 | ||||||
Japan Excellent, Inc. | 12,850 | 16,420,450 | ||||||
Japan Prime Realty Investment Corp. (a) | 7,945 | 25,767,151 | ||||||
Japan Real Estate Investment Corp. | 12,561 | 63,180,055 | ||||||
Japan Retail Fund Investment Corp. | 23,116 | 45,610,246 | ||||||
Kenedix Office Investment Corp. | 3,166 | 15,740,079 | ||||||
Mitsui Fudosan Co., Ltd. | 9,315,000 | 284,827,256 | ||||||
Mori Hills REIT Investment Corp. (a) | 12,455 | 16,496,208 | ||||||
Mori Trust Sogo REIT, Inc. (a) | 10,180 | 15,371,073 | ||||||
Nippon Building Fund, Inc. | 14,631 | 76,575,317 | ||||||
Nomura Real Estate Office Fund, Inc. | 3,941 | 17,239,603 | ||||||
NTT Urban Development Corp. | 1,147,531 | 10,830,705 | ||||||
Orix JREIT, Inc. | 19,158 | 23,960,289 | ||||||
Premier Investment Corp. | 2,045 | 7,952,833 | ||||||
Tokyu Fudosan Holdings Corp. | 5,490,200 | 41,049,221 | ||||||
Tokyu REIT, Inc. (a) | 9,808 | 11,895,123 | ||||||
Top REIT, Inc. | 1,634 | 7,433,403 | ||||||
United Urban Investment Corp. | 25,177 | 37,062,030 | ||||||
894,111,976 | ||||||||
NETHERLANDS — 2.2% | ||||||||
Corio NV | 1,039,537 | 47,524,033 | ||||||
Eurocommercial Properties NV | 394,166 | 17,327,250 | ||||||
VastNed Retail NV (a) | 200,943 | 9,899,563 | ||||||
Wereldhave NV (a) | 227,504 | 19,374,705 | ||||||
94,125,551 | ||||||||
NEW ZEALAND — 0.8% | ||||||||
Argosy Property, Ltd. | 8,333,393 | 6,580,483 | ||||||
Goodman Property Trust | 10,742,361 | 8,948,814 | ||||||
Kiwi Income Property Trust (a) | 10,251,749 | 9,918,987 |
See accompanying notes to financial statements.
185
SPDR Dow Jones International Real Estate ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Precinct Properties | 8,967,533 | $ | 7,781,574 | |||||
33,229,858 | ||||||||
PHILIPPINES — 1.5% | ||||||||
Ayala Land, Inc. | 59,962,400 | 39,979,390 | ||||||
SM Prime Holdings, Inc. | 76,523,600 | 24,913,470 | ||||||
64,892,860 | ||||||||
SINGAPORE — 7.6% | ||||||||
Ascendas REIT | 21,601,831 | 38,821,628 | ||||||
Cambridge Industrial Trust (a) | 11,748,115 | 6,726,288 | ||||||
CapitaCommercial Trust (a) | 23,778,676 | 28,079,467 | ||||||
CapitaLand, Ltd. (a) | 26,527,999 | 60,964,508 | ||||||
CapitaMall Trust | 27,447,168 | 41,250,962 | ||||||
Frasers Commercial Trust (a) | 5,126,170 | 5,115,775 | ||||||
Global Logistic Properties, Ltd. | 32,209,000 | 67,873,126 | ||||||
Guocoland, Ltd. (a) | 3,575,666 | 6,226,956 | ||||||
Mapletree Logistics Trust | 15,498,418 | 12,878,889 | ||||||
Singapore Land, Ltd. (a) | 881,000 | 6,606,362 | ||||||
Starhill Global REIT | 14,589,482 | 9,165,195 | ||||||
Suntec REIT (a) | 24,023,351 | 31,711,473 | ||||||
United Industrial Corp., Ltd. (a) | 2,789,000 | 6,986,084 | ||||||
322,406,713 | ||||||||
SOUTH AFRICA — 1.6% | ||||||||
Capital Property Fund | 16,719,950 | 16,659,702 | ||||||
Fountainhead Property Trust | 12,044,428 | 8,611,424 | ||||||
Growthpoint Properties, Ltd. | 14,838,498 | 34,423,160 | ||||||
SA Corporate Real Estate Fund | 14,517,222 | 5,520,958 | ||||||
Sycom Property Fund | 1,509,786 | 3,301,522 | ||||||
68,516,766 | ||||||||
SPAIN — 0.0% (d) | ||||||||
Martinsa-Fadesa SA (b)(e)(f) | 35,998 | 0 | ||||||
SWEDEN — 2.4% | ||||||||
Castellum AB | 1,819,863 | 30,202,167 | ||||||
Fabege AB (a) | 1,474,989 | 19,200,757 | ||||||
Great Portland Estates PLC | 3,637,858 | 38,269,238 | ||||||
Kungsleden AB | 1,442,574 | 11,903,619 | ||||||
99,575,781 | ||||||||
SWITZERLAND — 2.2% | ||||||||
PSP Swiss Property AG (b) | 407,550 | 38,339,735 | ||||||
Swiss Prime Site AG (b) | 639,788 | 54,429,239 | ||||||
92,768,974 | ||||||||
THAILAND — 0.5% | ||||||||
Central Pattana PCL NVDR | 14,256,637 | 20,655,424 | ||||||
UNITED KINGDOM — 13.2% | ||||||||
Big Yellow Group PLC | 1,320,592 | 12,031,881 | ||||||
British Land Co. PLC | 10,545,496 | 114,979,250 | ||||||
Capital & Counties Properties PLC | 7,009,853 | 40,902,671 | ||||||
Derwent London PLC | 905,896 | 40,928,172 | ||||||
Grainger PLC | 4,371,036 | 17,562,088 | ||||||
Hammerson PLC | 7,535,881 | 69,601,486 | ||||||
Intu Properties PLC (a) | 7,313,573 | 34,383,764 | ||||||
Land Securities Group PLC | 8,245,491 | 140,351,474 | ||||||
Segro PLC | 7,847,557 | 43,435,745 | ||||||
Shaftesbury PLC | 2,939,632 | 32,247,316 | ||||||
Workspace Group PLC | 1,112,287 | 10,987,020 | ||||||
557,410,867 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $3,684,624,762) | 4,208,815,054 | |||||||
RIGHTS — 0.1% | ||||||||
UNITED KINGDOM — 0.1% | ||||||||
Intu Properties PLC (expiring 4/17/14) (b) (Cost $0) | 2,089,592 | 3,309,481 | ||||||
SHORT TERM INVESTMENTS — 2.8% | ||||||||
UNITED STATES — 2.8% | ||||||||
MONEY MARKET FUNDS — 2.8% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (g)(h) | 91,383,076 | 91,383,076 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (h)(i) | 29,059,263 | 29,059,263 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $120,442,339) | 120,442,339 | |||||||
TOTAL INVESTMENTS — 102.5% | ||||||||
(Cost $3,805,067,101) | 4,332,566,874 | |||||||
OTHER ASSETS & LIABILITIES — (2.5)% | (106,701,544 | ) | ||||||
NET ASSETS — 100.0% | $ | 4,225,865,330 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Security is valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs (Note 2). | |||||
(f) | Company has filed for insolvency. | |||||
(g) | Investments of cash collateral for securities loaned | |||||
(h) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(i) | The rate shown is the annualized seven-day yield at period end. |
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
186
SPDR S&P Global Infrastructure ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.8% | ||||||||
AUSTRALIA — 7.5% | ||||||||
Macquarie Atlas Roads Group (a) | 163,381 | $ | 448,232 | |||||
Qube Holdings Ltd. (a) | 254,529 | 526,080 | ||||||
Sydney Airport | 466,849 | 1,813,009 | ||||||
Transurban Group (a) | 649,591 | 4,371,054 | ||||||
7,158,375 | ||||||||
BRAZIL — 1.5% | ||||||||
Cia de Saneamento Basico do Estado de Sao Paulo ADR (a) | 19,851 | 183,820 | ||||||
Companhia Energetica de Minas Gerais ADR (a) | 41,368 | 281,303 | ||||||
Ultrapar Participacoes SA ADR | 38,580 | 929,392 | ||||||
1,394,515 | ||||||||
CANADA — 9.9% | ||||||||
AltaGas, Ltd. (a) | 11,098 | 455,483 | ||||||
Enbridge, Inc. | 75,284 | 3,424,697 | ||||||
Gibson Energy, Inc. (a) | 11,127 | 289,025 | ||||||
Pembina Pipeline Corp. (a) | 28,964 | 1,101,616 | ||||||
Teekay Corp. (a) | 3,428 | 192,791 | ||||||
TransCanada Corp. (a) | 64,005 | 2,913,931 | ||||||
Veresen, Inc. (a) | 18,076 | 273,167 | ||||||
Westshore Terminals Investment Corp. (a) | 27,975 | 838,933 | ||||||
9,489,643 | ||||||||
CHILE — 0.6% | ||||||||
Empresa Nacional de Electricidad SA ADR | 6,238 | 269,357 | ||||||
Enersis SA ADR | 22,031 | 342,141 | ||||||
611,498 | ||||||||
CHINA — 0.4% | ||||||||
China Longyuan Power Group Corp. (Class H) | 168,000 | 169,147 | ||||||
Huaneng Power International Inc, ADR (a) | 4,807 | 184,156 | ||||||
353,303 | ||||||||
FRANCE — 7.8% | ||||||||
Aeroports de Paris | 16,066 | 2,004,159 | ||||||
GDF Suez | 86,596 | 2,370,309 | ||||||
Groupe Eurotunnel SA | 241,582 | 3,085,543 | ||||||
7,460,011 | ||||||||
GERMANY — 5.0% | ||||||||
E.ON AG | 115,629 | 2,261,398 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 15,407 | 1,151,345 | ||||||
Hamburger Hafen und Logistik AG (a) | 10,184 | 244,860 | ||||||
RWE AG | 27,790 | 1,128,364 | ||||||
4,785,967 | ||||||||
HONG KONG — 4.2% | ||||||||
Beijing Enterprises Water Group, Ltd. | 224,000 | 156,802 | ||||||
China Gas Holdings, Ltd. | 142,000 | 221,868 | ||||||
China Merchants Holdings International Co., Ltd. | 504,909 | 1,734,658 | ||||||
China Resources and Transportation Group, Ltd. (b) | 6,000,000 | 317,131 | ||||||
China Resources Gas Group, Ltd. | 46,000 | 146,473 | ||||||
China Resources Power Holdings Co., Ltd. | 102,000 | 265,616 | ||||||
COSCO Pacific, Ltd. | 723,414 | 923,263 | ||||||
Hopewell Highway Infrastructure, Ltd. | 431,000 | 208,914 | ||||||
3,974,725 | ||||||||
ITALY — 7.3% | ||||||||
Ansaldo STS SpA | 45,712 | 535,837 | ||||||
Atlantia SpA | 158,349 | 4,070,259 | ||||||
Enel SpA | 362,944 | 2,054,934 | ||||||
Societa Iniziative Autostradali e Servizi SpA | 26,407 | 317,732 | ||||||
6,978,762 | ||||||||
JAPAN — 3.4% | ||||||||
Japan Airport Terminal Co., Ltd. (a) | 31,400 | 817,434 | ||||||
Kamigumi Co., Ltd. | 111,000 | 1,081,060 | ||||||
Mitsubishi Logistics Corp. | 71,000 | 990,008 | ||||||
The Sumitomo Warehouse Co., Ltd. | 66,000 | 322,358 | ||||||
3,210,860 | ||||||||
MEXICO — 2.2% | ||||||||
Grupo Aeroportuario del Pacifico SAB de CV, ADR (a) | 17,511 | 1,024,218 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, ADR | 8,925 | 1,094,562 | ||||||
2,118,780 | ||||||||
NETHERLANDS — 0.3% | ||||||||
Koninklijke Vopak NV (a) | 5,893 | 329,186 | ||||||
NEW ZEALAND — 1.5% | ||||||||
Auckland International Airport, Ltd. | 437,712 | 1,447,131 | ||||||
SINGAPORE — 2.8% | ||||||||
Hutchison Port Holdings Trust (a) | 2,400,000 | 1,560,000 | ||||||
SATS Ltd. (a) | 275,000 | 664,785 | ||||||
SIA Engineering Co., Ltd. | 108,000 | 415,665 | ||||||
2,640,450 | ||||||||
SPAIN — 6.0% | ||||||||
Abertis Infraestructuras SA | 156,891 | 3,584,094 | ||||||
Iberdrola SA | 313,704 | 2,194,672 | ||||||
5,778,766 | ||||||||
SWITZERLAND — 1.1% | ||||||||
Flughafen Zuerich AG | 1,608 | 1,034,865 | ||||||
UNITED KINGDOM — 7.6% | ||||||||
BBA Aviation PLC | 206,084 | 1,139,975 | ||||||
Centrica PLC | 303,710 | 1,669,371 | ||||||
National Grid PLC | 221,984 | 3,042,063 | ||||||
Scottish & Southern Energy PLC | 55,780 | 1,366,076 | ||||||
7,217,485 | ||||||||
UNITED STATES — 30.7% | ||||||||
American Electric Power Co., Inc. | 28,001 | 1,418,531 | ||||||
Cheniere Energy, Inc. (a)(b) | 19,868 | 1,099,694 | ||||||
Consolidated Edison, Inc. (a) | 16,657 | 893,648 | ||||||
Dominion Resources, Inc. (a) | 33,465 | 2,375,680 | ||||||
Duke Energy Corp. (a) | 40,449 | 2,880,778 | ||||||
Edison International | 19,300 | 1,092,573 | ||||||
Exelon Corp. (a) | 51,046 | 1,713,104 |
See accompanying notes to financial statements.
187
SPDR S&P Global Infrastructure ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Kinder Morgan, Inc. (a) | 59,498 | $ | 1,933,090 | |||||
NextEra Energy, Inc. | 25,194 | 2,409,050 | ||||||
ONEOK, Inc. | 18,700 | 1,107,975 | ||||||
PG&E Corp. (a) | 26,318 | 1,136,938 | ||||||
PPL Corp. (a) | 36,371 | 1,205,335 | ||||||
Public Service Enterprise Group, Inc. (a) | 29,516 | 1,125,740 | ||||||
SemGroup Corp.(Class A) | 3,791 | 248,993 | ||||||
Sempra Energy | 13,082 | 1,265,814 | ||||||
Southern Co. (a) | 51,059 | 2,243,532 | ||||||
Spectra Energy Corp. (a) | 60,370 | 2,230,068 | ||||||
The Williams Cos., Inc. | 61,076 | 2,478,464 | ||||||
Wesco Aircraft Holdings, Inc. (a)(b) | 18,213 | 400,868 | ||||||
29,259,875 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $91,215,923) | 95,244,197 | |||||||
SHORT TERM INVESTMENTS — 15.0% | ||||||||
UNITED STATES — 15.0% | ||||||||
MONEY MARKET FUNDS — 15.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 14,286,100 | 14,286,100 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 53,097 | 53,097 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $14,339,197) | 14,339,197 | |||||||
TOTAL INVESTMENTS — 114.8% | ||||||||
(Cost $105,555,120) | 109,583,394 | |||||||
OTHER ASSETS & LIABILITIES — (14.8)% | (14,133,046 | ) | ||||||
NET ASSETS — 100.0% | $ | 95,450,348 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
188
SPDR S&P Global Natural Resources ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AUSTRALIA — 9.5% | ||||||||
Amcor, Ltd. | 822,713 | $ | 7,922,705 | |||||
BHP Billiton, Ltd. | 749,139 | 25,322,566 | ||||||
Fortescue Metals Group, Ltd. (a) | 558,356 | 2,716,940 | ||||||
Newcrest Mining, Ltd. (b) | 250,518 | 2,296,385 | ||||||
Orora, Ltd. | 817,014 | 1,041,218 | ||||||
Rio Tinto, Ltd. (a) | 143,224 | 8,436,084 | ||||||
Woodside Petroleum, Ltd. | 69,096 | 2,498,905 | ||||||
50,234,803 | ||||||||
BRAZIL — 2.2% | ||||||||
Fibria Celulose SA ADR (a)(b) | 148,484 | 1,642,233 | ||||||
Gerdau SA ADR | 293,322 | 1,880,194 | ||||||
Petroleo Brasileiro SA ADR | 164,945 | 2,169,027 | ||||||
Vale SA ADR (a) | 427,531 | 5,912,754 | ||||||
11,604,208 | ||||||||
CANADA — 13.0% | ||||||||
Agrium, Inc. (a) | 97,121 | 9,479,362 | ||||||
Barrick Gold Corp. | 382,200 | 6,814,626 | ||||||
Canadian Natural Resources, Ltd. | 119,649 | 4,593,004 | ||||||
First Quantum Minerals, Ltd. | 193,893 | 3,588,887 | ||||||
Goldcorp, Inc. | 266,549 | 6,513,093 | ||||||
Imperial Oil, Ltd. (a) | 28,232 | 1,316,769 | ||||||
Kinross Gold Corp. (b) | 375,185 | 1,553,427 | ||||||
Potash Corp. of Saskatchewan, Inc. | 578,706 | 20,960,731 | ||||||
Silver Wheaton Corp. | 116,521 | 2,647,653 | ||||||
Suncor Energy, Inc. | 164,080 | 5,739,641 | ||||||
Teck Resources, Ltd. (Class B) | 153,203 | 3,311,822 | ||||||
Yamana Gold, Inc. (a) | 247,071 | 2,166,838 | ||||||
68,685,853 | ||||||||
CHILE — 0.4% | ||||||||
Sociedad Quimica y Minera de Chile SA ADR | 62,900 | 1,996,446 | ||||||
CHINA — 0.5% | ||||||||
PetroChina Co., Ltd. | 2,328,000 | 2,535,964 | ||||||
COLOMBIA — 0.2% | ||||||||
Ecopetrol SA, ADR (a) | 27,527 | 1,122,826 | ||||||
FINLAND — 1.9% | ||||||||
Stora Enso Oyj | 382,890 | 4,097,730 | ||||||
UPM-Kymmene Oyj | 352,717 | 6,032,899 | ||||||
10,130,629 | ||||||||
FRANCE — 3.2% | ||||||||
Total SA (a) | 261,083 | 17,128,266 | ||||||
GERMANY — 1.4% | ||||||||
K+S AG | 115,834 | 3,806,810 | ||||||
ThyssenKrupp AG (b) | 139,727 | 3,748,544 | ||||||
7,555,354 | ||||||||
HONG KONG — 0.5% | ||||||||
CNOOC, Ltd. | 1,767,000 | 2,656,064 | ||||||
INDIA — 0.5% | ||||||||
Reliance Industries, Ltd. GDR (c) | 87,130 | 2,701,030 | ||||||
ISRAEL — 0.5% | ||||||||
Israel Chemicals, Ltd. | 288,466 | 2,520,043 | ||||||
ITALY — 1.4% | ||||||||
ENI SpA | 297,000 | 7,454,084 | ||||||
JAPAN — 2.9% | ||||||||
JFE Holdings, Inc. | 189,400 | 3,573,377 | ||||||
Nippon Steel Corp. | 3,119,000 | 8,540,642 | ||||||
OJI Paper Co., Ltd. | 669,000 | 3,001,194 | ||||||
15,115,213 | ||||||||
LUXEMBOURG — 1.0% | ||||||||
ArcelorMittal | 317,003 | 5,109,654 | ||||||
NETHERLANDS — 0.4% | ||||||||
Nutreco NV | 47,055 | 2,091,526 | ||||||
NORWAY — 1.6% | ||||||||
StatoilHydro ASA | 115,943 | 3,272,792 | ||||||
Yara International ASA (a) | 119,408 | 5,277,283 | ||||||
8,550,075 | ||||||||
PERU — 0.3% | ||||||||
Southern Copper Corp. (a) | 63,835 | 1,858,237 | ||||||
RUSSIA — 3.3% | ||||||||
Gazprom OAO ADR | 651,948 | 5,019,999 | ||||||
Lukoil OAO ADR (d) | 53,548 | 2,975,127 | ||||||
Lukoil OAO ADR (d) | 3,605 | 201,610 | ||||||
MMC Norilsk Nickel OJSC ADR | 186,960 | 3,109,145 | ||||||
Novolipetsk Steel OJSC GDR | 28,512 | 360,392 | ||||||
Rosneft Oil Co. GDR | 118,413 | 788,512 | ||||||
Surgutneftegas OJSC ADR | 106,260 | 783,136 | ||||||
Uralkali OJSC GDR | 181,309 | 4,302,462 | ||||||
17,540,383 | ||||||||
SINGAPORE — 1.3% | ||||||||
Golden Agri-Resources, Ltd. | 4,470,000 | 2,043,855 | ||||||
Wilmar International, Ltd. | 1,673,000 | 4,603,062 | ||||||
6,646,917 | ||||||||
SOUTH AFRICA — 0.6% | ||||||||
Sasol, Ltd. ADR | 56,032 | 3,131,068 | ||||||
SOUTH KOREA — 1.3% | ||||||||
POSCO ADR | 101,862 | 7,070,241 | ||||||
SPAIN — 0.4% | ||||||||
Repsol YPF SA (a) | 93,683 | 2,391,921 | ||||||
SWITZERLAND — 4.5% | ||||||||
Syngenta AG | 62,388 | 23,610,470 | ||||||
UNITED KINGDOM — 14.6% | ||||||||
Anglo American PLC | 456,236 | 11,610,771 | ||||||
Antofagasta PLC | 126,181 | 1,757,580 | ||||||
BG Group PLC | 375,202 | 6,990,164 | ||||||
BP PLC | 2,064,231 | 16,518,639 | ||||||
Fresnillo PLC (a) | 57,601 | 810,009 | ||||||
Glencore Xstrata PLC | 3,629,848 | 18,687,037 | ||||||
Mondi PLC | 246,027 | 4,302,620 | ||||||
Polyus Gold International, Ltd. (a) | 226,660 | 772,757 | ||||||
Royal Dutch Shell PLC (Class A) | 426,061 | 15,562,841 | ||||||
77,012,418 | ||||||||
UNITED STATES — 32.0% | ||||||||
Alcoa, Inc. | 350,981 | 4,517,125 | ||||||
Anadarko Petroleum Corp. | 38,625 | 3,273,855 | ||||||
Apache Corp. | 30,641 | 2,541,671 |
See accompanying notes to financial statements.
189
SPDR S&P Global Natural Resources ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Archer-Daniels-Midland Co. | 223,984 | $ | 9,718,666 | |||||
Bunge, Ltd. | 50,274 | 3,997,286 | ||||||
CF Industries Holdings, Inc. (a) | 19,558 | 5,097,597 | ||||||
Chevron Corp. | 147,635 | 17,555,278 | ||||||
ConocoPhillips | 94,168 | 6,624,719 | ||||||
Devon Energy Corp. | 29,297 | 1,960,848 | ||||||
EOG Resources, Inc. | 20,968 | 4,113,293 | ||||||
Exxon Mobil Corp. | 278,980 | 27,250,766 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 340,653 | 11,265,395 | ||||||
International Paper Co. | 151,000 | 6,927,880 | ||||||
MeadWestvaco Corp. (a) | 60,557 | 2,279,366 | ||||||
Monsanto Co. | 179,165 | 20,383,602 | ||||||
Newmont Mining Corp. (a) | 163,421 | 3,830,588 | ||||||
Nucor Corp. (a) | 104,443 | 5,278,549 | ||||||
Occidental Petroleum Corp. | 61,956 | 5,903,787 | ||||||
Packaging Corp. of America | 33,542 | 2,360,351 | ||||||
Phillips 66 (a) | 46,137 | 3,555,317 | ||||||
Plum Creek Timber Co., Inc. (a) | 60,967 | 2,563,053 | ||||||
Rayonier, Inc. | 42,975 | 1,972,982 | ||||||
Rock-Tenn Co. (Class A) | 24,518 | 2,588,365 | ||||||
Sealed Air Corp. | 66,720 | 2,193,086 | ||||||
The Mosaic Co. | 115,988 | 5,799,400 | ||||||
Weyerhaeuser Co. | 198,361 | 5,821,895 | ||||||
169,374,720 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $528,067,005) | 525,828,413 | |||||||
SHORT TERM INVESTMENTS — 7.3% | ||||||||
UNITED STATES — 7.3% | ||||||||
MONEY MARKET FUNDS — 7.3% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 37,142,261 | 37,142,261 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 1,471,319 | 1,471,319 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $38,613,580) | 38,613,580 | |||||||
TOTAL INVESTMENTS — 106.7% | ||||||||
(Cost $566,680,585) | 564,441,993 | |||||||
OTHER ASSETS & LIABILITIES — (6.7)% | (35,336,206 | ) | ||||||
NET ASSETS — 100.0% | $ | 529,105,787 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 0.5% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
190
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.2% | ||||||||
AUSTRALIA — 6.0% | ||||||||
Alumina, Ltd. (a) | 272,510 | $ | 301,828 | |||||
Amcor, Ltd. | 139,437 | 1,342,775 | ||||||
AMP, Ltd. | 92,898 | 428,791 | ||||||
Australia & New Zealand Banking Group, Ltd. | 87,067 | 2,667,878 | ||||||
BHP Billiton, Ltd. | 123,605 | 4,178,124 | ||||||
Boral, Ltd. | 179,645 | 940,748 | ||||||
Brambles, Ltd. | 67,333 | 577,894 | ||||||
CFS Retail Property Trust Group | 207,162 | 362,895 | ||||||
Coca-Cola Amatil, Ltd. | 93,727 | 958,186 | ||||||
Commonwealth Bank of Australia | 47,850 | 3,434,447 | ||||||
CSL, Ltd. | 24,469 | 1,577,558 | ||||||
Fortescue Metals Group, Ltd. (b) | 75,482 | 367,293 | ||||||
Iluka Resources, Ltd. (b) | 14,965 | 137,455 | ||||||
Insurance Australia Group, Ltd. | 99,287 | 512,575 | ||||||
Lend Lease Group | 86,647 | 951,659 | ||||||
Macquarie Group, Ltd. | 23,896 | 1,283,034 | ||||||
National Australia Bank, Ltd. | 53,317 | 1,752,322 | ||||||
Newcrest Mining, Ltd. (a) | 22,075 | 202,352 | ||||||
Origin Energy, Ltd. | 74,939 | 992,544 | ||||||
Qantas Airways, Ltd. (a) | 27,319 | 27,979 | ||||||
QBE Insurance Group, Ltd. | 32,417 | 385,186 | ||||||
Rio Tinto, Ltd. | 11,658 | 686,672 | ||||||
Santos, Ltd. | 66,000 | 825,823 | ||||||
Sonic Healthcare, Ltd. | 32,458 | 519,546 | ||||||
Suncorp Group, Ltd. | 97,002 | 1,157,094 | ||||||
Sydney Airport | 26,036 | 101,111 | ||||||
Toll Holdings, Ltd. (b) | 18,202 | 87,727 | ||||||
Transurban Group | 41,695 | 280,563 | ||||||
Wesfarmers, Ltd. | 18,903 | 721,659 | ||||||
Westfield Group | 52,236 | 496,253 | ||||||
Westpac Banking Corp. | 73,000 | 2,338,332 | ||||||
Woodside Petroleum, Ltd. | 23,416 | 846,856 | ||||||
Woolworths, Ltd. | 42,237 | 1,398,344 | ||||||
32,843,503 | ||||||||
AUSTRIA — 0.3% | ||||||||
Erste Group Bank AG | 18,774 | 641,706 | ||||||
OMV AG | 8,776 | 398,366 | ||||||
Raiffeisen International Bank-Holding AG | 17,457 | 582,255 | ||||||
Telekom Austria AG | 17,929 | 178,312 | ||||||
1,800,639 | ||||||||
BELGIUM — 0.8% | ||||||||
Ageas | 13,868 | 618,228 | ||||||
Anheuser-Busch InBev NV | 18,686 | 1,959,877 | ||||||
Delhaize Group | 3,964 | 289,832 | ||||||
KBC Groep NV | 11,366 | 699,451 | ||||||
Solvay SA | 3,510 | 551,251 | ||||||
UCB SA | 5,890 | 471,812 | ||||||
4,590,451 | ||||||||
BRAZIL — 1.9% | ||||||||
AMBEV SA ADR | 225,417 | 1,670,340 | ||||||
Banco Bradesco SA Preference Shares ADR | 85,562 | 1,169,633 | ||||||
Companhia Energetica de Minas Gerais ADR (b) | 107,876 | 733,557 | ||||||
Companhia Siderurgica Nacional SA ADR (b) | 55,432 | 241,683 | ||||||
Gerdau SA ADR | 82,616 | 529,569 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 123,465 | 1,834,690 | ||||||
Petroleo Brasileiro SA ADR (b) | 144,706 | 2,007,072 | ||||||
Tim Participacoes SA ADR | 9,002 | 233,692 | ||||||
Vale SA ADR (b) | 18,464 | 255,357 | ||||||
Vale SA Preference Shares ADR | 121,667 | 1,514,754 | ||||||
10,190,347 | ||||||||
CANADA — 7.3% | ||||||||
Agnico-Eagle Mines, Ltd. | 4,944 | 149,921 | ||||||
Agrium, Inc. (b) | 6,505 | 634,912 | ||||||
Bank of Montreal (b) | 21,061 | 1,411,254 | ||||||
Bank of Nova Scotia | 33,024 | 1,915,766 | ||||||
Barrick Gold Corp. | 35,567 | 634,164 | ||||||
Blackberry, Ltd. (a)(b) | 18,103 | 146,792 | ||||||
Brookfield Asset Management, Inc. (Class A) | 21,912 | 893,950 | ||||||
Cameco Corp. (b) | 14,669 | 336,374 | ||||||
Canadian Imperial Bank of Commerce (b) | 13,040 | 1,125,309 | ||||||
Canadian National Railway Co. | 37,655 | 2,118,915 | ||||||
Canadian Natural Resources, Ltd. | 40,899 | 1,570,003 | ||||||
Canadian Pacific Railway, Ltd. (b) | 8,764 | 1,315,295 | ||||||
Canadian Tire Corp., Ltd. (Class A) | 6,505 | 614,284 | ||||||
Cenovus Energy, Inc. | 28,471 | 824,659 | ||||||
Eldorado Gold Corp. | 18,775 | 104,613 | ||||||
Enbridge, Inc. | 35,305 | 1,606,038 | ||||||
EnCana Corp. | 28,621 | 612,224 | ||||||
Enerplus Corp. (b) | 11,509 | 230,441 | ||||||
First Quantum Minerals, Ltd. | 13,357 | 247,233 | ||||||
Gildan Activewear, Inc. | 15,347 | 774,615 | ||||||
Goldcorp, Inc. (b) | 26,246 | 641,318 | ||||||
Husky Energy, Inc. (b) | 14,829 | 445,508 | ||||||
IGM Financial, Inc. (b) | 12,372 | 584,440 | ||||||
Imperial Oil, Ltd. (b) | 16,641 | 776,153 | ||||||
Kinross Gold Corp. (a) | 32,972 | 136,518 | ||||||
Loblaw Cos., Ltd. (b) | 11,820 | 502,250 | ||||||
Manulife Financial Corp. | 52,129 | 1,006,922 | ||||||
National Bank of Canada (b) | 22,586 | 906,509 | ||||||
New Gold, Inc. (a) | 18,626 | 92,307 | ||||||
Onex Corp. | 20,674 | 1,149,690 | ||||||
Penn West Petroleum, Ltd. (b) | 15,772 | 132,035 | ||||||
Potash Corp. of Saskatchewan, Inc. | 35,526 | 1,287,144 | ||||||
Rogers Communications, Inc. (Class B) (b) | 17,654 | 732,711 | ||||||
Royal Bank of Canada | 41,700 | 2,753,806 | ||||||
Shaw Communications, Inc. (Class B) (b) | 18,923 | 452,609 | ||||||
Shoppers Drug Mart Corp. | 11,592 | 638,860 | ||||||
Silver Wheaton Corp. | 11,853 | 269,330 | ||||||
SNC-Lavalin Group, Inc. | 15,589 | 682,738 | ||||||
Sun Life Financial, Inc. (b) | 21,048 | 729,982 | ||||||
Suncor Energy, Inc. | 41,469 | 1,450,617 | ||||||
Talisman Energy, Inc. | 46,349 | 462,755 | ||||||
Teck Resources, Ltd. (Class B) | 26,426 | 571,256 |
See accompanying notes to financial statements.
191
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
TELUS Corp. | 19,179 | $ | 688,619 | |||||
The Toronto-Dominion Bank (b) | 52,658 | 2,472,719 | ||||||
Thomson Reuters Corp. (b) | 20,791 | 711,839 | ||||||
TransAlta Corp. (b) | 22,611 | 263,035 | ||||||
TransCanada Corp. (b) | 22,254 | 1,013,149 | ||||||
Valeant Pharmaceuticals International, Inc. (a) | 7,601 | 1,001,576 | ||||||
Yamana Gold, Inc. (b) | 22,441 | 196,810 | ||||||
40,019,967 | ||||||||
CHILE — 0.3% | ||||||||
Empresa Nacional de Electricidad SA ADR | 18,475 | 797,751 | ||||||
Enersis SA ADR | 56,966 | 884,682 | ||||||
Sociedad Quimica y Minera de Chile SA ADR | 4,333 | 137,529 | ||||||
1,819,962 | ||||||||
CHINA — 2.4% | ||||||||
Agricultural Bank of China, Ltd. | 876,000 | 381,702 | ||||||
Bank of China, Ltd. | 2,617,436 | 1,160,748 | ||||||
Bank of Communications Co., Ltd. (b) | 521,710 | 340,989 | ||||||
China Construction Bank Corp. | 1,924,720 | 1,347,320 | ||||||
China COSCO Holdings Co., Ltd. (a)(b) | 374,295 | 154,890 | ||||||
China Life Insurance Co., Ltd. | 304,000 | 860,224 | ||||||
China Merchants Bank Co., Ltd. (b) | 220,014 | 398,785 | ||||||
China Petroleum & Chemical Corp. | 1,009,800 | 903,438 | ||||||
China Shenhua Energy Co., Ltd. | 74,500 | 215,133 | ||||||
China Telecom Corp., Ltd. | 898,000 | 415,599 | ||||||
Hengan International Group Co., Ltd. | 38,000 | 393,616 | ||||||
Huaneng Power International, Inc. | 616,000 | 589,234 | ||||||
Industrial & Commercial Bank of China | 2,078,045 | 1,277,841 | ||||||
PetroChina Co., Ltd. | 766,000 | 834,428 | ||||||
PICC Property & Casualty Co., Ltd. | 174,964 | 239,539 | ||||||
Ping An Insurance Group Co. of China, Ltd. | 76,000 | 629,982 | ||||||
Tencent Holdings, Ltd. | 32,400 | 2,253,408 | ||||||
Tingyi Cayman Islands Holding Corp. | 150,000 | 430,254 | ||||||
Wumart Stores, Inc. (b) | 113,000 | 110,130 | ||||||
Yanzhou Coal Mining Co., Ltd. (b) | 148,000 | 111,996 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (b) | 758,000 | 161,234 | ||||||
13,210,490 | ||||||||
COLOMBIA — 0.1% | ||||||||
BanColombia SA ADR (b) | 9,753 | 550,849 | ||||||
DENMARK — 1.2% | ||||||||
A P Moller — Maersk A/S (b) | 76 | 911,944 | ||||||
Danske Bank A/S | 25,652 | 715,055 | ||||||
DSV A/S | 19,716 | 636,575 | ||||||
Novo Nordisk A/S (Class B) | 92,674 | 4,222,253 | ||||||
6,485,827 | ||||||||
FINLAND — 1.1% | ||||||||
Elisa Oyj (b) | 12,602 | 362,832 | ||||||
Fortum Oyj | 18,784 | 427,169 | ||||||
Kone Oyj (Class B) (b) | 28,846 | 1,210,203 | ||||||
Metso Oyj (b) | 9,963 | 325,849 | ||||||
Neste Oil Oyj (b) | 12,063 | 246,062 | ||||||
Nokia Oyj (a) | 80,152 | 595,430 | ||||||
Sampo Oyj (Class A) | 20,057 | 1,040,780 | ||||||
Stora Enso Oyj | 51,152 | 547,434 | ||||||
UPM-Kymmene Oyj | 32,282 | 552,154 | ||||||
Wartsila Oyj | 9,067 | 492,740 | ||||||
5,800,653 | ||||||||
FRANCE — 6.7% | ||||||||
Accor SA | 9,057 | 463,924 | ||||||
Air Liquide SA | 11,790 | 1,597,657 | ||||||
Alstom SA | 8,072 | 220,502 | ||||||
AXA SA | 51,309 | 1,334,069 | ||||||
BNP Paribas | 32,554 | 2,512,133 | ||||||
Bouygues SA (b) | 8,610 | 359,265 | ||||||
Cap Gemini SA | 5,944 | 450,168 | ||||||
Carrefour SA | 22,985 | 890,023 | ||||||
Credit Agricole SA (a) | 28,853 | 455,129 | ||||||
Danone | 19,411 | 1,373,242 | ||||||
Essilor International SA | 12,270 | 1,237,894 | ||||||
France Telecom SA | 67,684 | 1,000,020 | ||||||
GDF Suez | 35,520 | 972,255 | ||||||
Kering | 5,038 | 1,028,003 | ||||||
L’Oreal SA | 9,910 | 1,634,917 | ||||||
Lagardere SCA | 6,860 | 272,487 | ||||||
LVMH Moet Hennessy Louis Vuitton SA | 8,064 | 1,466,519 | ||||||
Pernod Ricard SA | 7,040 | 819,893 | ||||||
Publicis Groupe SA | 9,153 | 827,300 | ||||||
Renault SA | 16,061 | 1,561,478 | ||||||
Sanofi | 35,523 | 3,705,260 | ||||||
Schneider Electric SA | 18,443 | 1,635,716 | ||||||
Societe Generale | 21,890 | 1,348,745 | ||||||
Sodexo | 5,348 | 561,145 | ||||||
Technip SA | 5,576 | 575,692 | ||||||
Total SA | 73,504 | 4,822,206 | ||||||
Unibail-Rodamco SE | 2,672 | 694,186 | ||||||
Vallourec SA | 3,918 | 212,786 | ||||||
Veolia Environnement SA | 15,463 | 306,039 | ||||||
Vinci SA | 19,288 | 1,433,126 | ||||||
Vivendi SA | 46,927 | 1,307,771 | ||||||
37,079,550 | ||||||||
GERMANY — 6.8% | ||||||||
Adidas AG | 11,524 | 1,247,447 | ||||||
Allianz SE | 15,371 | 2,599,409 | ||||||
BASF SE | 32,026 | 3,561,201 | ||||||
Bayer AG | 25,144 | 3,402,399 | ||||||
Bayerische Motoren Werke AG | 9,955 | 1,257,070 | ||||||
Commerzbank AG (a) | 22,640 | 416,100 | ||||||
Daimler AG | 32,239 | 3,047,686 | ||||||
Deutsche Bank AG | 27,327 | 1,223,120 | ||||||
Deutsche Boerse AG | 9,750 | 776,309 | ||||||
Deutsche Lufthansa AG (a) | 14,103 | 369,603 | ||||||
Deutsche Post AG | 37,646 | 1,399,354 | ||||||
Deutsche Telekom AG | 102,348 | 1,654,647 | ||||||
E.ON AG | 65,397 | 1,278,993 | ||||||
Fresenius Medical Care AG & Co. KGaA | 10,594 | 739,550 | ||||||
Linde AG | 4,821 | 964,787 | ||||||
MAN SE | 5,496 | 700,675 |
See accompanying notes to financial statements.
192
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Merck KGaA | 3,893 | $ | 655,935 | |||||
Metro AG | 6,936 | 283,201 | ||||||
Muenchener Rueckversicherungs- Gesellschaft AG | 7,742 | 1,692,327 | ||||||
OSRAM Licht AG (a) | 2,846 | 184,612 | ||||||
RWE AG | 16,866 | 684,814 | ||||||
SAP AG | 32,408 | 2,624,592 | ||||||
Siemens AG | 29,319 | 3,947,949 | ||||||
ThyssenKrupp AG (a) | 13,816 | 370,650 | ||||||
Volkswagen AG | 4,370 | 1,108,223 | ||||||
Volkswagen AG Preference Shares | 4,325 | 1,121,251 | ||||||
37,311,904 | ||||||||
HONG KONG — 3.5% | ||||||||
AIA Group, Ltd. | 366,200 | 1,737,279 | ||||||
Bank of East Asia, Ltd. (b) | 272,086 | 1,062,802 | ||||||
Belle International Holdings, Ltd. (b) | 225,000 | 224,215 | ||||||
Cheung Kong Holdings, Ltd. | 76,000 | 1,259,963 | ||||||
China Mengniu Dairy Co., Ltd. | 97,000 | 485,810 | ||||||
China Merchants Holdings International Co., Ltd. | 155,588 | 534,536 | ||||||
China Mobile, Ltd. | 230,000 | 2,105,182 | ||||||
China Overseas Land & Investment, Ltd. (b) | 154,000 | 399,043 | ||||||
China Resources Enterprise, Ltd. (b) | 150,000 | 423,486 | ||||||
China Unicom (Hong Kong), Ltd. | 300,000 | 394,480 | ||||||
Citic Pacific, Ltd. (b) | 154,000 | 273,176 | ||||||
CNOOC, Ltd. | 690,217 | 1,037,499 | ||||||
COSCO Pacific, Ltd. | 325,752 | 415,744 | ||||||
Esprit Holdings, Ltd. | 6 | 10 | ||||||
Hang Lung Properties, Ltd. | 154,000 | 442,720 | ||||||
Henderson Land Development Co., Ltd. | 82,908 | 483,636 | ||||||
Hong Kong & China Gas Co., Ltd. | 595,151 | 1,298,168 | ||||||
Hong Kong Exchanges and Clearing, Ltd. | 62,805 | 952,149 | ||||||
Hutchison Whampoa, Ltd. | 76,000 | 1,006,207 | ||||||
Li & Fung, Ltd. (b) | 308,000 | 455,029 | ||||||
New World Development Co., Ltd. (b) | 477,701 | 480,346 | ||||||
Sands China, Ltd. | 92,000 | 687,297 | ||||||
Shangri-La Asia, Ltd. | 152,333 | 249,403 | ||||||
Sun Hung Kai Properties, Ltd. | 80,030 | 980,121 | ||||||
Swire Pacific, Ltd. | 76,000 | 886,187 | ||||||
The Link REIT | 194,973 | 958,898 | ||||||
19,233,386 | ||||||||
HUNGARY — 0.0% (c) | ||||||||
MOL Hungarian Oil and Gas NyRt | 4,738 | 266,580 | ||||||
INDIA — 1.6% | ||||||||
Dr. Reddy’s Laboratories, Ltd. ADR | 30,654 | 1,345,711 | ||||||
HDFC Bank, Ltd. ADR | 46,106 | 1,891,729 | ||||||
ICICI Bank, Ltd. ADR | 33,766 | 1,478,951 | ||||||
Infosys Technologies, Ltd. ADR (b) | 21,343 | 1,156,364 | ||||||
Mahindra & Mahindra, Ltd. GDR | 13,341 | 217,458 | ||||||
Reliance Industries, Ltd. GDR (d) | 38,131 | 1,182,061 | ||||||
Tata Motors, Ltd. ADR | 42,438 | 1,502,729 | ||||||
8,775,003 | ||||||||
INDONESIA — 0.7% | ||||||||
Astra Agro Lestari Tbk PT | 108,300 | 247,870 | ||||||
Astra International Tbk PT | 1,573,000 | 1,021,204 | ||||||
Bank Central Asia Tbk PT | 268,500 | 250,537 | ||||||
Bank Mandiri Tbk PT | 310,000 | 257,878 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 1,458,600 | 1,229,410 | ||||||
Bumi Resources Tbk PT (a) | 962,800 | 22,799 | ||||||
Charoen Pokphand Indonesia Tbk PT | 788,600 | 277,329 | ||||||
Gudang Garam Tbk PT | 36,500 | 158,723 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 2,110,000 | 411,413 | ||||||
3,877,163 | ||||||||
IRELAND — 0.3% | ||||||||
CRH PLC | 12,352 | 343,802 | ||||||
James Hardie Industries PLC | 94,731 | 1,258,195 | ||||||
1,601,997 | ||||||||
ISRAEL — 0.6% | ||||||||
Bank Hapoalim BM | 149,337 | 851,484 | ||||||
Bank Leumi Le-Israel BM (a) | 136,361 | 531,355 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 35,411 | 1,871,117 | ||||||
3,253,956 | ||||||||
ITALY — 1.7% | ||||||||
Assicurazioni Generali SpA | 35,719 | 796,536 | ||||||
Atlantia SpA | 26,636 | 684,661 | ||||||
Banca Monte dei Paschi di Siena SpA (a) | 225,752 | 82,453 | ||||||
Enel SpA | 203,936 | 1,154,655 | ||||||
ENI SpA | 70,287 | 1,764,058 | ||||||
Fiat SpA (a) | 55,328 | 644,361 | ||||||
Finmeccanica SpA (a) | 16,944 | 167,325 | ||||||
Intesa Sanpaolo SpA | 367,898 | 1,247,356 | ||||||
Mediobanca SpA (a) | 24,429 | 279,455 | ||||||
Pirelli & C. SpA | 31,692 | 497,946 | ||||||
Saipem SpA | 15,065 | 367,926 | ||||||
Telecom Italia SpA | 503,194 | 593,659 | ||||||
UBI Banca ScPA | 35,952 | 338,928 | ||||||
UniCredit SpA | 75,218 | 687,327 | ||||||
9,306,646 | ||||||||
JAPAN — 14.1% | ||||||||
Aeon Co., Ltd. | 22,600 | 255,220 | ||||||
Aisin Seiki Co., Ltd. | 15,100 | 546,172 | ||||||
Asahi Breweries, Ltd. | 23,000 | 645,210 | ||||||
Asahi Glass Co., Ltd. | 75,000 | 435,500 | ||||||
Asahi Kasei Corp. | 77,000 | 524,873 | ||||||
Astellas Pharma, Inc. | 115,000 | 1,366,801 | ||||||
Bridgestone Corp. | 23,000 | 817,401 | ||||||
Canon, Inc. | 30,400 | 941,947 | ||||||
Central Japan Railway Co. (b) | 7,700 | 901,704 | ||||||
Chubu Electric Power Co., Inc. (a) | 30,600 | 361,014 | ||||||
Chuo Mitsui Trust Holdings, Inc. | 76,000 | 343,895 | ||||||
Credit Saison Co., Ltd. | 22,500 | 448,536 | ||||||
Daiichi Sankyo Co., Ltd. | 30,700 | 518,101 | ||||||
Daikin Industries, Ltd. | 23,000 | 1,291,314 | ||||||
Daiwa Securities Group, Inc. | 75,000 | 653,979 | ||||||
DeNA Co., Ltd. (b) | 7,900 | 142,988 | ||||||
Denso Corp. | 15,400 | 739,906 | ||||||
East Japan Railway Co. | 15,300 | 1,129,988 | ||||||
Eisai Co., Ltd. (b) | 7,700 | 300,419 |
See accompanying notes to financial statements.
193
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Electric Power Development Co., Ltd. | 7,700 | $ | 217,949 | |||||
FANUC Corp. | 7,600 | 1,343,477 | ||||||
FUJIFILM Holdings Corp. | 22,700 | 610,785 | ||||||
Fujitsu, Ltd. | 77,000 | 466,553 | ||||||
Hitachi, Ltd. | 153,000 | 1,132,068 | ||||||
Honda Motor Co., Ltd. | 53,700 | 1,894,895 | ||||||
Hoya Corp. | 15,400 | 480,460 | ||||||
Inpex Corp. | 30,000 | 390,057 | ||||||
ITOCHU Corp. | 76,700 | 898,191 | ||||||
Japan Real Estate Investment Corp. | 154 | 774,598 | ||||||
Japan Retail Fund Investment Corp. | 308 | 607,716 | ||||||
Japan Tobacco, Inc. | 30,700 | 965,849 | ||||||
JFE Holdings, Inc. | 22,700 | 428,277 | ||||||
JSR Corp. (b) | 15,400 | 286,063 | ||||||
JX Holdings, Inc. | 138,208 | 666,984 | ||||||
Kajima Corp. (b) | 77,000 | 270,661 | ||||||
Kamigumi Co., Ltd. | 76,000 | 740,185 | ||||||
KDDI Corp. | 15,400 | 893,629 | ||||||
Keikyu Corp. | 76,423 | 645,609 | ||||||
Kintetsu Corp. (b) | 153,000 | 545,235 | ||||||
Kobe Steel, Ltd. | 154,000 | 204,865 | ||||||
Komatsu, Ltd. | 38,300 | 795,120 | ||||||
Konica Minolta Holdings, Inc. | 38,500 | 360,009 | ||||||
Kubota Corp. | 76,000 | 1,008,807 | ||||||
Kyocera Corp. | 15,200 | 686,756 | ||||||
LIXIL Group Corp. | 15,100 | 417,290 | ||||||
Makita Corp. | 7,500 | 412,924 | ||||||
Marubeni Corp. (b) | 76,000 | 511,414 | ||||||
Marui Group Co., Ltd. | 46,100 | 396,160 | ||||||
Mitsubishi Chemical Holdings Corp. | 77,000 | 320,755 | ||||||
Mitsubishi Corp. | 53,700 | 999,070 | ||||||
Mitsubishi Electric Corp. | 76,000 | 857,523 | ||||||
Mitsubishi Estate Co., Ltd. | 76,618 | 1,819,757 | ||||||
Mitsubishi Heavy Industries, Ltd. | 153,000 | 886,935 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 317,200 | 1,746,394 | ||||||
Mitsui & Co., Ltd. | 76,700 | 1,086,617 | ||||||
Mitsui Chemicals, Inc. (b) | 77,000 | 189,163 | ||||||
Mitsui Fudosan Co., Ltd. | 21,000 | 642,123 | ||||||
Mizuho Financial Group, Inc. (b) | 440,400 | 872,376 | ||||||
MS&AD Insurance Group Holdings, Inc. | 23,000 | 527,960 | ||||||
Murata Manufacturing Co., Ltd. | 7,700 | 727,868 | ||||||
NEC Corp. | 70,000 | 215,468 | ||||||
Nidec Corp. (b) | 15,600 | 951,133 | ||||||
Nippon Steel Corp. | 307,000 | 840,647 | ||||||
Nippon Telegraph & Telephone Corp. | 15,300 | 834,789 | ||||||
Nippon Yusen K.K. (b) | 77,000 | 224,305 | ||||||
Nissan Motor Co., Ltd. | 76,700 | 685,187 | ||||||
Nitto Denko Corp. | 7,600 | 364,706 | ||||||
NKSJ Holdings, Inc. | 22,900 | 589,705 | ||||||
Nomura Holdings, Inc. | 83,900 | 539,319 | ||||||
NTT Data Corp. | 7,700 | 300,194 | ||||||
NTT DoCoMo, Inc. | 61,400 | 970,619 | ||||||
Obayashi Corp. | 77,000 | 435,151 | ||||||
ORIX Corp. (a) | 84,400 | 1,190,787 | ||||||
Osaka Gas Co., Ltd. | 153,000 | 580,890 | ||||||
Panasonic Corp. | 78,200 | 890,699 | ||||||
Resona Holdings, Inc. | 23,000 | 111,443 | ||||||
Rohm Co., Ltd. | 7,500 | 335,364 | ||||||
Secom Co., Ltd. | 7,700 | 444,572 | ||||||
Seven & I Holdings Co., Ltd. | 30,700 | 1,175,713 | ||||||
Sharp Corp. (a)(b) | 75,000 | 228,674 | ||||||
Shin-Etsu Chemical Co., Ltd. | 15,300 | 876,238 | ||||||
Softbank Corp. | 30,700 | 2,325,193 | ||||||
Sony Corp. (b) | 38,100 | 729,555 | ||||||
Sumitomo Chemical Co., Ltd. | 77,000 | 284,867 | ||||||
Sumitomo Corp. (b) | 38,400 | 489,578 | ||||||
Sumitomo Electric Industries, Ltd. | 30,700 | 457,884 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 23,000 | 984,677 | ||||||
T&D Holdings, Inc. | 15,100 | 179,907 | ||||||
Takeda Pharmaceutical Co., Ltd. | 30,700 | 1,458,313 | ||||||
TDK Corp. | 7,700 | 322,251 | ||||||
Teijin, Ltd. | 153,000 | 380,327 | ||||||
Terumo Corp. | 30,600 | 669,435 | ||||||
The Bank of Yokohama, Ltd. | 77,000 | 385,056 | ||||||
The Chiba Bank, Ltd. | 77,000 | 475,526 | ||||||
The Joyo Bank, Ltd. | 77,000 | 385,056 | ||||||
The Kansai Electric Power Co., Inc. (a) | 37,900 | 389,728 | ||||||
The Shizuoka Bank, Ltd. | 76,000 | 743,137 | ||||||
The Tokyo Electric Power Co., Inc. (a) | 53,600 | 216,513 | ||||||
Tohoku Electric Power Co., Inc. | 15,500 | 160,140 | ||||||
Tokio Marine Holdings, Inc. | 23,000 | 691,887 | ||||||
Tokyo Electron, Ltd. | 7,700 | 472,909 | ||||||
Tokyo Gas Co., Ltd. | 153,000 | 778,482 | ||||||
Tokyu Corp. | 77,000 | 471,787 | ||||||
Toppan Printing Co., Ltd. (b) | 77,000 | 552,537 | ||||||
Toray Industries, Inc. (b) | 77,000 | 509,919 | ||||||
Toshiba Corp. | 77,000 | 326,737 | ||||||
Toyota Motor Corp. | 92,100 | 5,210,221 | ||||||
Toyota Tsusho Corp. | 23,000 | 585,134 | ||||||
West Japan Railway Co. | 15,300 | 626,054 | ||||||
Yahoo! Japan Corp. | 99,800 | 490,351 | ||||||
Yamada Denki Co., Ltd. (b) | 45,300 | 151,315 | ||||||
Yamaha Corp. | 29,800 | 384,563 | ||||||
Yamaha Motor Co., Ltd. | 30,700 | 490,377 | ||||||
77,659,114 | ||||||||
LUXEMBOURG — 0.1% | ||||||||
ArcelorMittal | 25,198 | 406,157 | ||||||
MEXICO — 1.0% | ||||||||
America Movil SAB de CV | 1,429,924 | 1,418,007 | ||||||
Cemex SAB de CV (a)(b) | 555,892 | 702,919 | ||||||
Fomento Economico Mexicano SAB de CV (b) | 103,561 | 965,154 | ||||||
Grupo Financiero Banorte SAB de CV | 160,089 | 1,077,545 | ||||||
Grupo Mexico SAB de CV | 89,865 | 283,946 | ||||||
Grupo Televisa SA de CV (Series CPO) (b) | 140,396 | 936,816 | ||||||
Industrias Penoles SA de CV | 6,461 | 168,943 | ||||||
5,553,330 | ||||||||
NETHERLANDS — 2.6% | ||||||||
Airbus Group NV | 18,070 | 1,294,809 | ||||||
Akzo Nobel NV | 12,637 | 1,031,605 | ||||||
ASML Holding NV | 13,877 | 1,285,839 | ||||||
CNH Industrial NV (a) | 25,740 | 296,048 | ||||||
Heineken NV | 9,749 | 678,815 |
See accompanying notes to financial statements.
194
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
ING Groep NV (a) | 94,352 | $ | 1,336,167 | |||||
Koninklijke (Royal) KPN NV (a) | 203,568 | 719,656 | ||||||
Koninklijke Ahold NV | 46,209 | 928,569 | ||||||
Koninklijke DSM NV | 10,952 | 751,937 | ||||||
Koninklijke Philips NV | 45,072 | 1,584,382 | ||||||
Reed Elsevier NV | 41,062 | 887,672 | ||||||
TNT Express NV | 20,271 | 199,174 | ||||||
Unilever NV (b) | 64,819 | 2,665,362 | ||||||
Wolters Kluwer NV | 19,733 | 556,995 | ||||||
14,217,030 | ||||||||
NORWAY — 0.6% | ||||||||
DnB NOR ASA | 61,725 | 1,073,245 | ||||||
Norsk Hydro ASA | 93,324 | 465,291 | ||||||
StatoilHydro ASA | 37,132 | 1,048,147 | ||||||
Telenor ASA | 29,778 | 660,015 | ||||||
Yara International ASA | 7,631 | 337,255 | ||||||
3,583,953 | ||||||||
PERU — 0.1% | ||||||||
Cia de Minas Buenaventura SA ADR | 5,365 | 67,438 | ||||||
Credicorp, Ltd. | 2,225 | 306,872 | ||||||
374,310 | ||||||||
PHILIPPINES — 0.1% | ||||||||
Philippine Long Distance Telephone Co. ADR | 9,569 | 583,900 | ||||||
POLAND — 0.0% (c) | ||||||||
Orange Polska SA GDR (b) | 54,524 | 186,777 | ||||||
PORTUGAL — 0.0% (c) | ||||||||
Portugal Telecom SGPS SA (b) | 57,592 | 245,034 | ||||||
RUSSIA — 1.0% | ||||||||
Federal Hydrogenerating Co. JSC ADR (e) | 40,054 | 61,323 | ||||||
Federal Hydrogenerating Co. JSC ADR (e) | 13,335 | 20,243 | ||||||
Gazprom OAO ADR | 179,807 | 1,384,514 | ||||||
Lukoil OAO ADR | 21,849 | 1,221,905 | ||||||
MMC Norilsk Nickel OJSC ADR (b) | 11,840 | 196,899 | ||||||
Mobile Telesystems OJSC ADR | 35,909 | 628,048 | ||||||
Sberbank of Russia ADR (b) | 50,038 | 486,369 | ||||||
Surgutneftegas OJSC ADR Preference Shares | 50,475 | 365,944 | ||||||
Tatneft OAO ADR | 29,150 | 998,679 | ||||||
Uralkali OJSC GDR | 7,568 | 179,589 | ||||||
5,543,513 | ||||||||
SINGAPORE — 1.1% | ||||||||
CapitaLand, Ltd. | 153,000 | 351,612 | ||||||
DBS Group Holdings, Ltd. | 78,379 | 1,007,824 | ||||||
Singapore Exchange, Ltd. | 153,000 | 844,356 | ||||||
Singapore Press Holdings, Ltd. (b) | 230,000 | 768,160 | ||||||
Singapore Telecommunications, Ltd. | 537,000 | 1,558,626 | ||||||
United Overseas Bank, Ltd. | 76,014 | 1,308,658 | ||||||
5,839,236 | ||||||||
SOUTH AFRICA — 1.4% | ||||||||
Anglo Platinum, Ltd. (a)(b) | 6,049 | 272,403 | ||||||
AngloGold Ashanti, Ltd. | 15,985 | 277,970 | ||||||
Discovery Holdings, Ltd. | 35,639 | 285,880 | ||||||
FirstRand, Ltd. (b) | 150,270 | 515,763 | ||||||
Gold Fields, Ltd. | 36,402 | 140,273 | ||||||
Harmony Gold Mining Co., Ltd. (a) | 31,770 | 98,772 | ||||||
Impala Platinum Holdings, Ltd. | 23,052 | 263,003 | ||||||
MTN Group, Ltd. (b) | 56,513 | 1,158,157 | ||||||
Naspers, Ltd. | 15,423 | 1,702,939 | ||||||
Sanlam, Ltd. (b) | 147,790 | 808,511 | ||||||
Sasol, Ltd. | 23,212 | 1,301,125 | ||||||
Standard Bank Group, Ltd. (b) | 50,240 | 662,995 | ||||||
7,487,791 | ||||||||
SOUTH KOREA — 3.7% | ||||||||
Celltrion, Inc. (a)(b) | 5,016 | 207,341 | ||||||
CJ CheilJedang Corp. | 843 | 227,292 | ||||||
E-Mart Co., Ltd. | 963 | 220,745 | ||||||
Hana Financial Group, Inc. | 19,285 | 704,764 | ||||||
Hyundai Department Store Co., Ltd. | 1,621 | 216,245 | ||||||
Hyundai Development Co. | 12,084 | 340,570 | ||||||
Hyundai Heavy Industries Co., Ltd. | 2,605 | 516,375 | ||||||
Hyundai Hysco Co., Ltd. | 1,732 | 89,492 | ||||||
Hyundai Mobis | 3,821 | 1,130,739 | ||||||
Hyundai Motor Co. | 5,418 | 1,277,578 | ||||||
Hyundai Steel Co. | 2,295 | 148,336 | ||||||
KB Financial Group, Inc. | 19,263 | 674,101 | ||||||
Kia Motors Corp. | 18,072 | 1,006,783 | ||||||
Korea Electric Power Corp. ADR (a)(b) | 21,672 | 372,108 | ||||||
Korea Zinc Co., Ltd. | 1,182 | 366,998 | ||||||
KT Corp. ADR (a) | 15,583 | 216,448 | ||||||
KT&G Corp. | 5,974 | 448,983 | ||||||
LG Chem, Ltd. Preference Shares | 4,955 | 691,265 | ||||||
LG Electronics, Inc. (b) | 7,067 | 430,878 | ||||||
LG Household & Health Care, Ltd. | 478 | 206,342 | ||||||
Lotte Chemical Corp. | 1,083 | 191,276 | ||||||
NAVER Corp. | 1,391 | 1,011,446 | ||||||
NCSoft Corp. | 844 | 172,852 | ||||||
NHN Entertainment Corp. (a) | 626 | 56,457 | ||||||
POSCO ADR | 11,655 | 808,974 | ||||||
Samsung C&T Corp. | 3,710 | 215,047 | ||||||
Samsung Electronics Co., Ltd. GDR | 7,761 | 4,881,669 | ||||||
Samsung Engineering Co., Ltd. (a) | 1,280 | 86,219 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 2,444 | 549,897 | ||||||
Samsung Heavy Industries Co., Ltd. | 4,780 | 143,025 | ||||||
Samsung Securities Co., Ltd. | 8,310 | 304,857 | ||||||
Shinhan Financial Group Co., Ltd. | 14,571 | 643,372 | ||||||
SK Holdings Co., Ltd. | 2,871 | 520,553 | ||||||
SK Hynix, Inc. (a) | 12,200 | 412,608 | ||||||
SK Innovation Co., Ltd. | 3,690 | 422,923 | ||||||
SK Telecom Co., Ltd. ADR (b) | 17,929 | 404,658 | ||||||
20,319,216 | ||||||||
SPAIN — 2.2% | ||||||||
Abertis Infraestructuras SA | 30,915 | 706,237 | ||||||
ACS, Actividades de Construccion y Servicios SA | 15,077 | 592,538 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 113,909 | 1,368,683 | ||||||
Banco Popular Espanol SA | 54,516 | 411,749 | ||||||
Banco Santander SA | 261,365 | 2,493,125 | ||||||
Ferrovial SA | 41,092 | 890,586 |
See accompanying notes to financial statements.
195
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Gas Natural SDG SA | 12,823 | $ | 360,712 | |||||
Iberdrola SA | 166,327 | 1,163,623 | ||||||
Industria de Diseno Textil SA | 7,314 | 1,097,768 | ||||||
Mapfre SA | 87,639 | 369,613 | ||||||
Repsol YPF SA | 38,533 | 983,827 | ||||||
Telefonica SA | 117,615 | 1,861,751 | ||||||
12,300,212 | ||||||||
SWEDEN — 2.5% | ||||||||
Assa Abloy AB (Class B) | 20,097 | 1,068,153 | ||||||
Atlas Copco AB (Class B) | 47,903 | 1,309,223 | ||||||
Hennes & Mauritz AB (Class B) | 32,838 | 1,397,890 | ||||||
Husqvarna AB (Class B) | 93,217 | 649,861 | ||||||
Nordea Bank AB | 113,199 | 1,602,775 | ||||||
Sandvik AB | 41,406 | 584,029 | ||||||
Securitas AB (Class B) | 24,967 | 288,619 | ||||||
Skandinaviska Enskilda Banken AB (Class A) (b) | 44,676 | 612,236 | ||||||
Skanska AB (Class B) | 24,894 | 585,533 | ||||||
SKF AB (Class B) (b) | 24,199 | 618,454 | ||||||
Svenska Handelsbanken AB (Class A) (b) | 21,279 | 1,065,993 | ||||||
Swedbank AB (Class A) | 27,223 | 729,328 | ||||||
Tele2 AB | 31,001 | 383,953 | ||||||
Telefonaktiebolaget LM Ericsson (Class B) | 104,697 | 1,391,966 | ||||||
TeliaSonera AB | 73,513 | 553,313 | ||||||
Volvo AB (Class B) | 42,971 | 681,327 | ||||||
13,522,653 | ||||||||
SWITZERLAND — 6.8% | ||||||||
ABB, Ltd. (a) | 72,950 | 1,882,900 | ||||||
Adecco SA (a) | 6,199 | 516,145 | ||||||
Cie Financiere Richemont SA | 7,143 | 682,481 | ||||||
Credit Suisse Group AG (a) | 31,655 | 1,024,528 | ||||||
Geberit AG | 2,303 | 754,762 | ||||||
Givaudan SA (a) | 607 | 939,343 | ||||||
Glencore Xstrata PLC | 162,562 | 836,895 | ||||||
Holcim, Ltd. (a) | 9,687 | 802,727 | ||||||
Kuehne & Nagel International AG | 5,704 | 798,760 | ||||||
Nestle SA | 88,268 | 6,649,952 | ||||||
Novartis AG | 72,676 | 6,170,487 | ||||||
Roche Holding AG | 24,532 | 7,359,461 | ||||||
SGS SA | 307 | 757,291 | ||||||
Swiss Re AG (a) | 10,452 | 969,651 | ||||||
Syngenta AG | 4,213 | 1,594,392 | ||||||
The Swatch Group AG | 2,640 | 1,655,697 | ||||||
Transocean, Ltd. | 4,522 | 186,439 | ||||||
UBS AG (a) | 103,105 | 2,131,315 | ||||||
Zurich Insurance Group AG (a) | 4,864 | 1,494,413 | ||||||
37,207,639 | ||||||||
TAIWAN — 1.8% | ||||||||
Advanced Semiconductor Engineering Inc, ADR (b) | 235,958 | 1,309,567 | ||||||
AU Optronics Corp. ADR (a)(b) | 102,143 | 355,458 | ||||||
Chunghwa Telecom Co., Ltd. ADR (b) | 38,689 | 1,186,978 | ||||||
Hon Hai Precision Industry Co., Ltd. GDR | 352,023 | 2,018,852 | ||||||
Siliconware Precision Industries Co. ADR (b) | 153,035 | 1,017,683 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 152,554 | 3,054,131 | ||||||
United Microelectronics Corp. ADR (b) | 552,177 | 1,148,528 | ||||||
10,091,197 | ||||||||
THAILAND — 0.5% | ||||||||
Bangkok Bank PCL | 318,976 | 1,764,987 | ||||||
IRPC PCL | 1,945,400 | 206,294 | ||||||
PTT PCL | 62,177 | 565,420 | ||||||
2,536,701 | ||||||||
TURKEY — 0.4% | ||||||||
Akbank TAS | 192,264 | 611,161 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS | 350,861 | 413,318 | ||||||
Turkiye Garanti Bankasi AS | 147,343 | 504,184 | ||||||
Turkiye Is Bankasi (Class C) | 332,928 | 739,252 | ||||||
2,267,915 | ||||||||
UNITED KINGDOM — 15.9% | ||||||||
3i Group PLC | 90,312 | 599,093 | ||||||
Anglo American PLC | 48,718 | 1,239,827 | ||||||
AstraZeneca PLC | 50,938 | 3,291,974 | ||||||
BAE Systems PLC | 95,512 | 659,542 | ||||||
Barclays PLC | 450,320 | 1,752,253 | ||||||
BG Group PLC | 120,426 | 2,243,585 | ||||||
BHP Billiton PLC | 60,586 | 1,862,550 | ||||||
BP PLC | 618,822 | 4,952,012 | ||||||
British American Tobacco PLC | 68,323 | 3,799,291 | ||||||
British Land Co. PLC | 84,794 | 924,523 | ||||||
British Sky Broadcasting Group PLC | 49,593 | 754,859 | ||||||
BT Group PLC | 119,556 | 756,411 | ||||||
Burberry Group PLC | 20,390 | 474,205 | ||||||
Capita Group PLC | 19,208 | 350,968 | ||||||
Centrica PLC | 226,834 | 1,246,814 | ||||||
Cobham PLC | 30,096 | 150,022 | ||||||
Compass Group PLC | 91,737 | 1,399,395 | ||||||
Diageo PLC | 96,226 | 2,985,476 | ||||||
Experian PLC | 29,255 | 527,230 | ||||||
Fresnillo PLC (b) | 8,383 | 117,885 | ||||||
G4S PLC | 45,175 | 181,882 | ||||||
GlaxoSmithKline PLC | 176,594 | 4,685,515 | ||||||
Hammerson PLC | 72,723 | 671,671 | ||||||
HSBC Holdings PLC | 585,038 | 5,925,228 | ||||||
ICAP PLC | 83,823 | 527,679 | ||||||
Imperial Tobacco Group PLC | 35,068 | 1,416,574 | ||||||
Intercontinental Hotels Group PLC | 34,144 | 1,096,910 | ||||||
J Sainsbury PLC (b) | 76,896 | 405,231 | ||||||
Land Securities Group PLC | 41,307 | 703,111 | ||||||
Lloyds Banking Group PLC (a) | 746,456 | 928,985 | ||||||
Marks & Spencer Group PLC | 64,445 | 485,089 | ||||||
National Grid PLC | 156,758 | 2,148,208 | ||||||
Next PLC | 12,909 | 1,420,402 | ||||||
Old Mutual PLC | 411,018 | 1,377,995 | ||||||
Pearson PLC | 34,649 | 614,043 | ||||||
Prudential PLC | 47,420 | 1,002,829 | ||||||
Randgold Resources, Ltd. | 2,116 | 158,817 |
See accompanying notes to financial statements.
196
SPDR MSCI ACWI ex-US ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Reckitt Benckiser Group PLC | 25,527 | $ | 2,079,777 | |||||
Reed Elsevier PLC | 50,446 | 770,366 | ||||||
Rio Tinto PLC | 45,424 | 2,527,443 | ||||||
Rolls-Royce Holdings PLC (a) | 55,846 | 999,933 | ||||||
Royal Bank of Scotland Group PLC (a) | 84,765 | 439,493 | ||||||
Royal Dutch Shell PLC (Class A) | 129,173 | 4,718,336 | ||||||
Royal Dutch Shell PLC (Class B) | 95,779 | 3,737,263 | ||||||
RSA Insurance Group PLC | 130,346 | 194,598 | ||||||
SABMiller PLC | 31,689 | 1,582,268 | ||||||
Scottish & Southern Energy PLC | 42,090 | 1,030,802 | ||||||
Severn Trent PLC | 22,792 | 692,698 | ||||||
Shire PLC | 16,653 | 817,622 | ||||||
Smith & Nephew PLC | 48,040 | 728,017 | ||||||
Smiths Group PLC | 11,503 | 243,934 | ||||||
Standard Chartered PLC | 51,422 | 1,074,603 | ||||||
Standard Life PLC | 122,177 | 768,920 | ||||||
Tesco PLC | 280,942 | 1,383,572 | ||||||
The Sage Group PLC | 69,675 | 485,659 | ||||||
Tullow Oil PLC | 17,782 | 221,895 | ||||||
Unilever PLC | 49,323 | 2,105,881 | ||||||
United Utilities Group PLC | 33,768 | 443,615 | ||||||
Vodafone Group PLC | 927,278 | 3,405,643 | ||||||
Whitbread PLC | 20,332 | 1,410,772 | ||||||
Wolseley PLC | 7,645 | 434,744 | ||||||
WPP PLC | 49,756 | 1,026,100 | ||||||
87,162,038 | ||||||||
UNITED STATES — 0.0% (c) | ||||||||
Verizon Communications, Inc. | 871 | 41,433 | ||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $543,280,216) | 545,148,022 | |||||||
RIGHTS — 0.0% (c) | ||||||||
HONG KONG — 0.0% (c) | ||||||||
New World Development Co., Ltd. (expiring 4/17/14) (a) | 159,234 | 32,845 | ||||||
SPAIN — 0.0% (c) | ||||||||
Banco Bilbao Vizcaya Argentaria SA (expiring 4/14/14) (a) | 113,909 | 26,689 | ||||||
UNITED KINGDOM — 0.0% (c) | ||||||||
RSA Insurance Group PLC (expiring 4/9/14) (a) | 48,880 | 27,299 | ||||||
TOTAL RIGHTS — | ||||||||
(Cost $26,318) | 86,833 | |||||||
SHORT TERM INVESTMENTS — 5.9% | ||||||||
UNITED STATES — 5.9% | ||||||||
MONEY MARKET FUNDS — 5.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (f)(g) | 32,219,781 | 32,219,781 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (g)(h) | 240,960 | 240,960 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $32,460,741) | 32,460,741 | |||||||
TOTAL INVESTMENTS — 105.1% | ||||||||
(Cost $575,767,275) | 577,695,596 | |||||||
OTHER ASSETS & LIABILITIES — (5.1)% | (28,040,893 | ) | ||||||
NET ASSETS — 100.0% | $ | 549,654,703 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 0.2% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(e) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(f) | Investments of cash collateral for securities loaned | |||||
(g) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(h) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
SCA = Societe en Commandite par Actions
See accompanying notes to financial statements.
197
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 98.7% | ||||||||
AUSTRALIA — 2.8% | ||||||||
Alumina, Ltd. (a) | 6,673 | $ | 7,391 | |||||
Amcor, Ltd. | 574 | 5,528 | ||||||
AMP, Ltd. (b) | 1,975 | 9,116 | ||||||
Australia & New Zealand Banking Group, Ltd. | 447 | 13,697 | ||||||
BHP Billiton, Ltd. | 574 | 19,402 | ||||||
Boral, Ltd. (b) | 1,871 | 9,798 | ||||||
Brambles, Ltd. | 1,368 | 11,741 | ||||||
CFS Retail Property Trust Group | 7,705 | 13,497 | ||||||
Coca-Cola Amatil, Ltd. (b) | 675 | 6,901 | ||||||
Commonwealth Bank of Australia | 144 | 10,336 | ||||||
CSL, Ltd. | 263 | 16,956 | ||||||
Fortescue Metals Group, Ltd. (b) | 1,017 | 4,949 | ||||||
Iluka Resources, Ltd. (b) | 273 | 2,507 | ||||||
Insurance Australia Group, Ltd. | 3,016 | 15,570 | ||||||
Lend Lease Group | 1,570 | 17,243 | ||||||
Macquarie Group, Ltd. (b) | 272 | 14,604 | ||||||
National Australia Bank, Ltd. | 566 | 18,602 | ||||||
Newcrest Mining, Ltd. (a) | 323 | 2,961 | ||||||
Origin Energy, Ltd. | 653 | 8,649 | ||||||
Orora, Ltd. (b) | 285 | 363 | ||||||
OZ Minerals, Ltd. (b) | 990 | 3,267 | ||||||
QBE Insurance Group, Ltd. | 480 | 5,703 | ||||||
Recall Holdings, Ltd. (a) | 137 | 590 | ||||||
Rio Tinto, Ltd. | 205 | 12,075 | ||||||
Santos, Ltd. | 740 | 9,259 | ||||||
Shopping Centres Australasia Property Group | 22 | 34 | ||||||
Sonic Healthcare, Ltd. | 712 | 11,397 | ||||||
Suncorp Group, Ltd. | 991 | 11,821 | ||||||
Sydney Airport | 148 | 575 | ||||||
Toll Holdings, Ltd. (b) | 1,895 | 9,133 | ||||||
Transurban Group | 927 | 6,238 | ||||||
Wesfarmers, Ltd. | 625 | 23,861 | ||||||
Westfield Group | 1,153 | 10,954 | ||||||
Westpac Banking Corp. | 661 | 21,173 | ||||||
Woodside Petroleum, Ltd. | 265 | 9,584 | ||||||
Woolworths, Ltd. | 232 | 7,681 | ||||||
353,156 | ||||||||
AUSTRIA — 0.1% | ||||||||
OMV AG | 277 | 12,574 | ||||||
BELGIUM — 0.5% | ||||||||
Anheuser-Busch InBev NV | 161 | 16,886 | ||||||
Delhaize Group | 145 | 10,602 | ||||||
Solvay SA | 75 | 11,779 | ||||||
UCB SA | 244 | 19,545 | ||||||
58,812 | ||||||||
BRAZIL — 0.8% | ||||||||
AMBEV SA ADR (b) | 1,558 | 11,545 | ||||||
Banco Bradesco SA Preference Shares ADR (b) | 893 | 12,207 | ||||||
Companhia Energetica de Minas Gerais ADR (b) | 1,170 | 7,956 | ||||||
Companhia Siderurgica Nacional SA ADR (b) | 1,028 | 4,482 | ||||||
Gerdau SA ADR | 929 | 5,955 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 1,003 | 14,905 | ||||||
Oi SA ADR (b) | 1,080 | 1,436 | ||||||
PDG Realty SA Empreendimentos e Participacoes ADR (a) | 696 | 919 | ||||||
Petroleo Brasileiro SA ADR (b) | 1,163 | 16,131 | ||||||
Tim Participacoes SA ADR | 354 | 9,190 | ||||||
Vale SA Preference Shares ADR | 1,236 | 15,388 | ||||||
100,114 | ||||||||
CANADA — 3.6% | ||||||||
Agrium, Inc. (b) | 69 | 6,735 | ||||||
Bank of Montreal (b) | 151 | 10,118 | ||||||
Bank of Nova Scotia | 191 | 11,080 | ||||||
Barrick Gold Corp. | 295 | 5,260 | ||||||
Brookfield Asset Management, Inc. (Class A) | 293 | 11,954 | ||||||
Cameco Corp. (b) | 393 | 9,012 | ||||||
Canadian Imperial Bank of Commerce (b) | 69 | 5,954 | ||||||
Canadian National Railway Co. | 297 | 16,713 | ||||||
Canadian Natural Resources, Ltd. | 297 | 11,401 | ||||||
Canadian Pacific Railway, Ltd. (b) | 63 | 9,455 | ||||||
Canadian Tire Corp., Ltd. (Class A) | 73 | 6,893 | ||||||
Cenovus Energy, Inc. (b) | 377 | 10,920 | ||||||
Eldorado Gold Corp. | 405 | 2,257 | ||||||
Enbridge, Inc. (b) | 336 | 15,285 | ||||||
EnCana Corp. | 552 | 11,808 | ||||||
Enerplus Corp. (b) | 434 | 8,690 | ||||||
First Quantum Minerals, Ltd. | 210 | 3,887 | ||||||
Goldcorp, Inc. | 289 | 7,062 | ||||||
IAMGOLD Corp. | 436 | 1,537 | ||||||
IGM Financial, Inc. (b) | 116 | 5,480 | ||||||
Imperial Oil, Ltd. (b) | 216 | 10,074 | ||||||
Kinross Gold Corp. (a) | 639 | 2,646 | ||||||
Loblaw Cos., Ltd. (b) | 232 | 9,858 | ||||||
Manulife Financial Corp. | 774 | 14,950 | ||||||
National Bank of Canada | 408 | 16,375 | ||||||
Onex Corp. | 257 | 14,292 | ||||||
Penn West Petroleum, Ltd. (b) | 334 | 2,796 | ||||||
Potash Corp. of Saskatchewan, Inc. (b) | 220 | 7,971 | ||||||
Rogers Communications, Inc. (Class B) | 409 | 16,975 | ||||||
Royal Bank of Canada | 358 | 23,642 | ||||||
Shaw Communications, Inc. (Class B) (b) | 273 | 6,530 | ||||||
Shoppers Drug Mart Corp. | 179 | 9,865 | ||||||
Silver Wheaton Corp. | 193 | 4,385 | ||||||
SNC-Lavalin Group, Inc. | 171 | 7,489 | ||||||
Sun Life Financial, Inc. (b) | 422 | 14,636 | ||||||
Suncor Energy, Inc. | 601 | 21,023 | ||||||
Talisman Energy, Inc. | 701 | 6,999 | ||||||
Teck Resources, Ltd. (Class B) | 214 | 4,626 | ||||||
TELUS Corp. | 578 | 20,753 | ||||||
The Toronto-Dominion Bank (b) | 330 | 15,496 | ||||||
TMX Group, Ltd. | 8 | 391 | ||||||
TransAlta Corp. (b) | 670 | 7,794 | ||||||
TransCanada Corp. (b) | 120 | 5,463 | ||||||
Valeant Pharmaceuticals International, Inc. (a) | 234 | 30,834 |
See accompanying notes to financial statements.
198
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Yamana Gold, Inc. (b) | 589 | $ | 5,166 | |||||
452,530 | ||||||||
CHILE — 0.2% | ||||||||
Empresa Nacional de Electricidad SA ADR | 228 | 9,845 | ||||||
Enersis SA ADR | 591 | 9,178 | ||||||
Sociedad Quimica y Minera de Chile SA ADR (b) | 130 | 4,126 | ||||||
23,149 | ||||||||
CHINA — 1.2% | ||||||||
Agricultural Bank of China, Ltd. | 14,000 | 6,100 | ||||||
Bank of China, Ltd. | 27,000 | 11,974 | ||||||
Bank of Communications Co., Ltd. | 10,000 | 6,536 | ||||||
China Construction Bank Corp. | 13,000 | 9,100 | ||||||
China Life Insurance Co., Ltd. | 3,000 | 8,489 | ||||||
China Merchants Bank Co., Ltd. | 2,674 | 4,847 | ||||||
China Petroleum & Chemical Corp. | 11,200 | 10,020 | ||||||
China Shenhua Energy Co., Ltd. | 1,500 | 4,332 | ||||||
China Telecom Corp., Ltd. | 12,000 | 5,554 | ||||||
Hengan International Group Co., Ltd. | 1,000 | 10,358 | ||||||
Huaneng Power International, Inc. | 8,000 | 7,652 | ||||||
Industrial & Commercial Bank of China | 22,000 | 13,528 | ||||||
PetroChina Co., Ltd. | 8,000 | 8,715 | ||||||
PICC Property & Casualty Co., Ltd. | 4,220 | 5,778 | ||||||
Ping An Insurance Group Co. of China, Ltd. (b) | 1,000 | 8,289 | ||||||
Tencent Holdings, Ltd. | 400 | 27,820 | ||||||
Wumart Stores, Inc. (b) | 4,000 | 3,898 | ||||||
Yanzhou Coal Mining Co., Ltd. (b) | 4,000 | 3,027 | ||||||
156,017 | ||||||||
COLOMBIA — 0.1% | ||||||||
BanColombia SA ADR (b) | 191 | 10,788 | ||||||
DENMARK — 0.7% | ||||||||
A P Moller — Maersk A/S (b) | 2 | 23,999 | ||||||
Danske Bank A/S | 334 | 9,310 | ||||||
DSV A/S | 501 | 16,176 | ||||||
Novo Nordisk A/S (Class B) | 745 | 33,942 | ||||||
83,427 | ||||||||
FINLAND — 0.4% | ||||||||
Fortum Oyj | 261 | 5,936 | ||||||
Metso Oyj (b) | 155 | 5,069 | ||||||
Nokia Oyj (a) | 1,616 | 12,005 | ||||||
Sampo Oyj (Class A) | 183 | 9,496 | ||||||
UPM-Kymmene Oyj | 595 | 10,177 | ||||||
Valmet Corp. (b) | 155 | 1,663 | ||||||
Wartsila Oyj | 177 | 9,619 | ||||||
53,965 | ||||||||
FRANCE — 3.4% | ||||||||
Accor SA | 314 | 16,084 | ||||||
Alstom SA | 242 | 6,611 | ||||||
AXA SA | 629 | 16,354 | ||||||
BNP Paribas | 333 | 25,697 | ||||||
Bouygues SA | 189 | 7,886 | ||||||
Cap Gemini SA | 236 | 17,873 | ||||||
Carrefour SA | 365 | 14,134 | ||||||
Credit Agricole SA (a) | 664 | 10,474 | ||||||
Danone | 179 | 12,664 | ||||||
Essilor International SA | 120 | 12,107 | ||||||
France Telecom SA | 914 | 13,504 | ||||||
GDF Suez | 320 | 8,759 | ||||||
Groupe Fnac (a) | 2 | 103 | ||||||
Kering | 41 | 8,366 | ||||||
LVMH Moet Hennessy Louis Vuitton SA | 65 | 11,821 | ||||||
Pernod Ricard SA | 88 | 10,249 | ||||||
Publicis Groupe SA | 151 | 13,648 | ||||||
Renault SA | 222 | 21,583 | ||||||
Sanofi | 293 | 30,562 | ||||||
Schneider Electric SA | 212 | 18,802 | ||||||
Societe Generale | 267 | 16,451 | ||||||
Sodexo | 187 | 19,621 | ||||||
Technip SA | 98 | 10,118 | ||||||
Total SA (b) | 454 | 29,785 | ||||||
Unibail-Rodamco SE | 71 | 18,446 | ||||||
Vallourec SA | 78 | 4,236 | ||||||
Veolia Environnement SA | 556 | 11,004 | ||||||
Vinci SA | 271 | 20,136 | ||||||
Vivendi SA | 689 | 19,201 | ||||||
426,279 | ||||||||
GERMANY — 3.0% | ||||||||
Adidas AG | 161 | 17,428 | ||||||
Allianz SE | 151 | 25,536 | ||||||
BASF SE | 244 | 27,132 | ||||||
Bayer AG | 287 | 38,836 | ||||||
Commerzbank AG (a) | 271 | 4,981 | ||||||
Daimler AG | 336 | 31,763 | ||||||
Deutsche Bank AG | 326 | 14,591 | ||||||
Deutsche Boerse AG | 116 | 9,236 | ||||||
Deutsche Lufthansa AG (a) | 696 | 18,240 | ||||||
Deutsche Post AG | 578 | 21,485 | ||||||
Deutsche Telekom AG | 953 | 15,407 | ||||||
E.ON AG | 597 | 11,676 | ||||||
Fresenius Medical Care AG & Co. KGaA | 65 | 4,538 | ||||||
Linde AG | 41 | 8,205 | ||||||
MAN SE | 55 | 7,012 | ||||||
Merck KGaA | 102 | 17,186 | ||||||
Muenchener Rueckversicherungs- Gesellschaft AG | 88 | 19,236 | ||||||
OSRAM Licht AG (a) | 6 | 389 | ||||||
RWE AG | 200 | 8,121 | ||||||
Salzgitter AG (b) | 212 | 8,383 | ||||||
SAP AG | 297 | 24,053 | ||||||
Siemens AG | 138 | 18,582 | ||||||
ThyssenKrupp AG (a) | 373 | 10,007 | ||||||
Volkswagen AG | 71 | 18,005 | ||||||
380,028 | ||||||||
HONG KONG — 2.0% | ||||||||
AIA Group, Ltd. | 2,800 | 13,283 | ||||||
Bank of East Asia, Ltd. | 2,267 | 8,855 | ||||||
Cheung Kong Holdings, Ltd. | 2,000 | 33,157 | ||||||
China Mobile, Ltd. | 1,500 | 13,729 | ||||||
China Overseas Land & Investment, Ltd. (b) | 4,000 | 10,365 | ||||||
China Resources Enterprise, Ltd. (b) | 4,000 | 11,293 | ||||||
China Unicom (Hong Kong), Ltd. | 4,000 | 5,260 |
See accompanying notes to financial statements.
199
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Citic Pacific, Ltd. (b) | 4,000 | $ | 7,096 | |||||
CNOOC, Ltd. | 6,000 | 9,019 | ||||||
COSCO Pacific, Ltd. | 4,182 | 5,337 | ||||||
Hang Lung Properties, Ltd. | 2,000 | 5,750 | ||||||
Henderson Land Development Co., Ltd. | 2,147 | 12,524 | ||||||
Hong Kong Exchanges and Clearing, Ltd. | 616 | 9,339 | ||||||
Hutchison Whampoa, Ltd. | 2,000 | 26,479 | ||||||
Li & Fung, Ltd. (b) | 4,000 | 5,909 | ||||||
New World Development Co., Ltd. (b) | 6,224 | 6,259 | ||||||
Sands China, Ltd. | 1,600 | 11,953 | ||||||
Shangri-La Asia, Ltd. | 4,000 | 6,549 | ||||||
Sun Hung Kai Properties, Ltd. | 2,062 | 25,253 | ||||||
Swire Pacific, Ltd. | 1,000 | 11,660 | ||||||
The Link REIT | 2,058 | 10,122 | ||||||
249,191 | ||||||||
HUNGARY — 0.1% | ||||||||
MOL Hungarian Oil and Gas NyRt | 45 | 2,532 | ||||||
Richter Gedeon NyRt | 367 | 6,400 | ||||||
8,932 | ||||||||
INDIA — 0.7% | ||||||||
Axis Bank, Ltd. GDR | 160 | 3,920 | ||||||
Dr. Reddy’s Laboratories, Ltd. ADR | 419 | 18,394 | ||||||
HDFC Bank, Ltd. ADR | 318 | 13,047 | ||||||
ICICI Bank, Ltd. ADR (b) | 261 | 11,432 | ||||||
Infosys Technologies, Ltd. ADR (b) | 183 | 9,915 | ||||||
Mahindra & Mahindra, Ltd. GDR | 479 | 7,808 | ||||||
Reliance Industries, Ltd. GDR (c) | 324 | 10,044 | ||||||
Tata Motors, Ltd. ADR | 354 | 12,535 | ||||||
87,095 | ||||||||
INDONESIA — 0.4% | ||||||||
Astra Agro Lestari Tbk PT | 3,000 | 6,866 | ||||||
Astra International Tbk PT | 10,000 | 6,492 | ||||||
Bank Central Asia Tbk PT | 9,000 | 8,398 | ||||||
Bank Mandiri Tbk PT | 9,000 | 7,487 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 10,500 | 8,850 | ||||||
Gudang Garam Tbk PT | 1,000 | 4,348 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 66,000 | 12,869 | ||||||
55,310 | ||||||||
IRELAND — 0.8% | ||||||||
Accenture PLC (Class A) (b) | 204 | 16,263 | ||||||
Allegion PLC (b) | 66 | 3,443 | ||||||
Covidien PLC | 407 | 29,980 | ||||||
CRH PLC | 306 | 8,517 | ||||||
Eaton Corp. PLC | 407 | 30,574 | ||||||
Mallinckrodt PLC (a)(b) | 25 | 1,585 | ||||||
Perrigo Co. PLC (b) | 17 | 2,629 | ||||||
Seagate Technology PLC (b) | 204 | 11,457 | ||||||
104,448 | ||||||||
ISRAEL — 0.2% | ||||||||
Bank Hapoalim BM | 1,363 | 7,771 | ||||||
Bank Leumi Le-Israel BM (a) | 1,785 | 6,956 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 234 | 12,365 | ||||||
27,092 | ||||||||
ITALY — 0.8% | ||||||||
Assicurazioni Generali SpA | 566 | 12,622 | ||||||
Enel SpA | 2,489 | 14,092 | ||||||
ENI SpA | 529 | 13,277 | ||||||
Intesa Sanpaolo SpA | 4,492 | 15,230 | ||||||
Mediaset SpA (a) | 2,208 | 12,349 | ||||||
Saipem SpA | 112 | 2,735 | ||||||
Telecom Italia SpA | 10,495 | 12,382 | ||||||
UniCredit SpA | 1,498 | 13,689 | ||||||
96,376 | ||||||||
JAPAN — 7.4% | ||||||||
Aisin Seiki Co., Ltd. | 200 | 7,234 | ||||||
Asahi Breweries, Ltd. | 200 | 5,611 | ||||||
Asahi Kasei Corp. | 2,000 | 13,633 | ||||||
Astellas Pharma, Inc. | 1,000 | 11,885 | ||||||
Bridgestone Corp. | 200 | 7,108 | ||||||
Canon, Inc. | 200 | 6,197 | ||||||
Chuo Mitsui Trust Holdings, Inc. | 2,000 | 9,050 | ||||||
Credit Saison Co., Ltd. | 400 | 7,974 | ||||||
Daiichi Sankyo Co., Ltd. (b) | 600 | 10,126 | ||||||
Daikin Industries, Ltd. | 200 | 11,229 | ||||||
Daiwa Securities Group, Inc. | 2,000 | 17,439 | ||||||
Denso Corp. | 400 | 19,218 | ||||||
Eisai Co., Ltd. (b) | 200 | 7,803 | ||||||
FUJIFILM Holdings Corp. | 400 | 10,763 | ||||||
Fujitsu, Ltd. | 1,000 | 6,059 | ||||||
Hitachi, Ltd. | 2,000 | 14,798 | ||||||
Hokuhoku Financial Group, Inc. | 4,000 | 7,690 | ||||||
Honda Motor Co., Ltd. | 400 | 14,115 | ||||||
Hoya Corp. | 400 | 12,480 | ||||||
ITOCHU Corp. | 600 | 7,026 | ||||||
Japan Tobacco, Inc. | 400 | 12,584 | ||||||
JFE Holdings, Inc. | 400 | 7,547 | ||||||
JSR Corp. (b) | 400 | 7,430 | ||||||
JX Holdings, Inc. | 1,000 | 4,826 | ||||||
Kajima Corp. (b) | 2,000 | 7,030 | ||||||
Kamigumi Co., Ltd. | 2,000 | 19,479 | ||||||
KDDI Corp. | 400 | 23,211 | ||||||
Kobe Steel, Ltd. | 6,000 | 7,982 | ||||||
Komatsu, Ltd. | 400 | 8,304 | ||||||
Konica Minolta Holdings, Inc. | 1,000 | 9,351 | ||||||
Kyocera Corp. | 400 | 18,073 | ||||||
Makita Corp. | 200 | 11,011 | ||||||
Marubeni Corp. (b) | 2,000 | 13,458 | ||||||
Marui Group Co., Ltd. | 1,800 | 15,468 | ||||||
Mitsubishi Chemical Holdings Corp. | 1,000 | 4,166 | ||||||
Mitsubishi Corp. | 400 | 7,442 | ||||||
Mitsubishi Electric Corp. | 2,000 | 22,566 | ||||||
Mitsubishi Heavy Industries, Ltd. | 2,000 | 11,594 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 3,500 | 19,270 | ||||||
Mitsui & Co., Ltd. | 400 | 5,667 | ||||||
Mizuho Financial Group, Inc. (b) | 7,300 | 14,460 | ||||||
MS&AD Insurance Group Holdings, Inc. | 400 | 9,182 | ||||||
Murata Manufacturing Co., Ltd. | 200 | 18,906 | ||||||
NEC Corp. | 2,000 | 6,156 | ||||||
Nippon Steel Corp. | 5,000 | 13,691 | ||||||
Nippon Yusen K.K. (b) | 4,000 | 11,652 | ||||||
Nissan Motor Co., Ltd. | 800 | 7,147 | ||||||
Nitto Denko Corp. | 200 | 9,598 | ||||||
NKSJ Holdings, Inc. | 400 | 10,301 | ||||||
Nomura Holdings, Inc. | 1,900 | 12,213 |
See accompanying notes to financial statements.
200
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
NTT Data Corp. | 200 | $ | 7,797 | |||||
Obayashi Corp. | 2,000 | 11,303 | ||||||
ORIX Corp. (a) | 800 | 11,287 | ||||||
Osaka Gas Co., Ltd. | 2,000 | 7,593 | ||||||
Panasonic Corp. (b) | 1,200 | 13,668 | ||||||
Resona Holdings, Inc. | 1,200 | 5,814 | ||||||
Rohm Co., Ltd. | 200 | 8,943 | ||||||
Secom Co., Ltd. | 200 | 11,547 | ||||||
Seven & I Holdings Co., Ltd. | 200 | 7,659 | ||||||
Shin-Etsu Chemical Co., Ltd. | 200 | 11,454 | ||||||
Softbank Corp. | 400 | 30,296 | ||||||
Sony Corp. (b) | 600 | 11,489 | ||||||
Sumitomo Chemical Co., Ltd. | 2,000 | 7,399 | ||||||
Sumitomo Corp. (b) | 400 | 5,100 | ||||||
Sumitomo Electric Industries, Ltd. | 600 | 8,949 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 400 | 17,125 | ||||||
T&D Holdings, Inc. | 800 | 9,532 | ||||||
Takeda Pharmaceutical Co., Ltd. | 200 | 9,500 | ||||||
TDK Corp. | 200 | 8,370 | ||||||
Teijin, Ltd. | 2,000 | 4,972 | ||||||
Terumo Corp. (b) | 400 | 8,751 | ||||||
The Joyo Bank, Ltd. | 2,000 | 10,001 | ||||||
The Kansai Electric Power Co., Inc. (a) | 400 | 4,113 | ||||||
Tokio Marine Holdings, Inc. | 400 | 12,033 | ||||||
Tokyo Electron, Ltd. | 200 | 12,283 | ||||||
Tokyu Corp. | 2,000 | 12,254 | ||||||
Toppan Printing Co., Ltd. (b) | 2,000 | 14,352 | ||||||
Toshiba Corp. | 2,000 | 8,487 | ||||||
Toyota Motor Corp. | 800 | 45,257 | ||||||
Toyota Tsusho Corp. | 600 | 15,264 | ||||||
West Japan Railway Co. | 200 | 8,184 | ||||||
Yamada Denki Co., Ltd. (b) | 800 | 2,672 | ||||||
Yamaha Corp. | 1,200 | 15,486 | ||||||
936,137 | ||||||||
LUXEMBOURG — 0.1% | ||||||||
ArcelorMittal | 397 | 6,399 | ||||||
MEXICO — 0.5% | ||||||||
America Movil SAB de CV | 15,240 | 15,113 | ||||||
Cemex SAB de CV (a) | 6,675 | 8,440 | ||||||
Fomento Economico Mexicano SAB de CV | 1,567 | 14,604 | ||||||
Grupo Financiero Banorte SAB de CV | 1,508 | 10,150 | ||||||
Grupo Mexico SAB de CV | 2,508 | 7,925 | ||||||
Grupo Televisa SA de CV (Series CPO) | 1,332 | 8,888 | ||||||
Industrias Penoles SA de CV | 102 | 2,667 | ||||||
67,787 | ||||||||
NETHERLANDS — 1.5% | ||||||||
Airbus Group NV | 134 | 9,602 | ||||||
Akzo Nobel NV | 150 | 12,245 | ||||||
ASML Holding NV | 144 | 13,343 | ||||||
CNH Industrial NV (a) | 281 | 3,232 | ||||||
Heineken NV | 106 | 7,381 | ||||||
ING Groep NV (a) | 1,376 | 19,486 | ||||||
Koninklijke (Royal) KPN NV (a) | 1,812 | 6,406 | ||||||
Koninklijke Ahold NV | 649 | 13,040 | ||||||
Koninklijke DSM NV | 174 | 11,946 | ||||||
Koninklijke Philips NV | 537 | 18,877 | ||||||
LyondellBasell Industries NV | 204 | 18,144 | ||||||
Reed Elsevier NV | 695 | 15,024 | ||||||
Unilever NV | 400 | 16,448 | ||||||
Wolters Kluwer NV | 862 | 24,331 | ||||||
189,505 | ||||||||
NETHERLANDS ANTILLES — 0.3% | ||||||||
Schlumberger, Ltd. | 407 | 39,682 | ||||||
NORWAY — 0.3% | ||||||||
DnB NOR ASA | 739 | 12,849 | ||||||
Norsk Hydro ASA | 2,270 | 11,318 | ||||||
Telenor ASA | 605 | 13,409 | ||||||
Yara International ASA | 126 | 5,569 | ||||||
43,145 | ||||||||
PERU — 0.0% (d) | ||||||||
Compania de Minas Buenaventura SA ADR | 61 | 767 | ||||||
PHILIPPINES — 0.1% | ||||||||
Philippine Long Distance Telephone Co. ADR (b) | 147 | 8,970 | ||||||
PORTUGAL — 0.1% | ||||||||
Portugal Telecom SGPS SA (b) | 1,728 | 7,352 | ||||||
RUSSIA — 0.5% | ||||||||
Federal Hydrogenerating Co. JSC ADR (e) | 824 | 1,262 | ||||||
Federal Hydrogenerating Co. JSC ADR (e) | 855 | 1,298 | ||||||
Gazprom OAO ADR (e) | 781 | 6,068 | ||||||
Gazprom OAO ADR (e) | 810 | 6,237 | ||||||
Lukoil OAO ADR | 195 | 10,905 | ||||||
MMC Norilsk Nickel OJSC ADR (b) | 238 | 3,958 | ||||||
Mobile Telesystems OJSC ADR | 371 | 6,489 | ||||||
Sberbank of Russia ADR (b)(e) | 412 | 4,025 | ||||||
Sberbank of Russia ADR (e) | 427 | 4,150 | ||||||
Surgutneftegas OJSC ADR Preference Shares | 1,712 | 12,412 | ||||||
Tatneft OAO ADR | 198 | 6,784 | ||||||
Uralkali OJSC GDR | 138 | 3,275 | ||||||
66,863 | ||||||||
SINGAPORE — 0.4% | ||||||||
CapitaLand, Ltd. | 6,000 | 13,789 | ||||||
Singapore Exchange, Ltd. | 4,000 | 22,075 | ||||||
Singapore Press Holdings, Ltd. (b) | 4,000 | 13,359 | ||||||
Singapore Telecommunications, Ltd. | 2,000 | 5,805 | ||||||
55,028 | ||||||||
SOUTH AFRICA — 0.7% | ||||||||
AngloGold Ashanti, Ltd. (a)(b) | 173 | 3,008 | ||||||
Discovery Holdings, Ltd. | 2,367 | 18,987 | ||||||
FirstRand, Ltd. | 2,174 | 7,462 | ||||||
Gold Fields, Ltd. | 419 | 1,615 | ||||||
Harmony Gold Mining Co., Ltd. (a)(b) | 464 | 1,443 | ||||||
Impala Platinum Holdings, Ltd. | 314 | 3,582 | ||||||
MTN Group, Ltd. (b) | 804 | 16,477 | ||||||
Naspers, Ltd. | 128 | 14,133 | ||||||
Sanlam, Ltd. (b) | 2,013 | 11,013 | ||||||
Sasol, Ltd. | 155 | 8,688 | ||||||
Sibanye Gold, Ltd. | 206 | 446 |
See accompanying notes to financial statements.
201
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Standard Bank Group, Ltd. (b) | 520 | $ | 6,862 | |||||
93,716 | ||||||||
SOUTH KOREA — 1.2% | ||||||||
E-Mart Co., Ltd. | 8 | 1,834 | ||||||
Hana Financial Group, Inc. | 80 | 2,924 | ||||||
Hyundai Heavy Industries Co., Ltd. | 12 | 2,379 | ||||||
Hyundai Hysco Co., Ltd. | 29 | 1,498 | ||||||
Hyundai Mobis | 13 | 3,847 | ||||||
Hyundai Motor Co. | 29 | 6,838 | ||||||
Hyundai Steel Co. | 39 | 2,521 | ||||||
KB Financial Group, Inc. | 110 | 3,849 | ||||||
Kia Motors Corp. | 65 | 3,621 | ||||||
Korea Electric Power Corp. ADR (a)(b) | 318 | 5,460 | ||||||
KT&G Corp. | 41 | 3,081 | ||||||
LG Chem, Ltd. Preference Shares | 63 | 8,789 | ||||||
LG Electronics, Inc. | 34 | 2,073 | ||||||
LG Household & Health Care, Ltd. | 6 | 2,590 | ||||||
Lotte Chemical Corp. | 6 | 1,060 | ||||||
NAVER Corp. | 11 | 7,998 | ||||||
NHN Entertainment Corp. (a) | 5 | 451 | ||||||
POSCO ADR | 116 | 8,052 | ||||||
Samsung C&T Corp. | 68 | 3,942 | ||||||
Samsung Electronics Co., Ltd. GDR | 73 | 45,917 | ||||||
Samsung Engineering Co., Ltd. (a) | 17 | 1,145 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 14 | 3,150 | ||||||
Samsung Heavy Industries Co., Ltd. | 110 | 3,291 | ||||||
Samsung Securities Co., Ltd. | 67 | 2,458 | ||||||
Shinhan Financial Group Co., Ltd. | 110 | 4,857 | ||||||
SK Holdings Co., Ltd. | 23 | 4,170 | ||||||
SK Hynix, Inc. (a) | 130 | 4,397 | ||||||
SK Innovation Co., Ltd. | 20 | 2,292 | ||||||
144,484 | ||||||||
SPAIN — 0.8% | ||||||||
Acciona SA | 114 | 9,873 | ||||||
Acerinox SA (b) | 534 | 8,582 | ||||||
ACS, Actividades de Construccion y Servicios SA | 404 | 15,877 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 1,576 | 18,937 | ||||||
Banco Santander SA | 2,810 | 26,804 | ||||||
Repsol YPF SA | 246 | 6,281 | ||||||
Telefonica SA | 643 | 10,178 | ||||||
96,532 | ||||||||
SWEDEN — 1.3% | ||||||||
Assa Abloy AB (Class B) | 224 | 11,906 | ||||||
Atlas Copco AB (Class B) | 625 | 17,082 | ||||||
Nordea Bank AB | 1,083 | 15,334 | ||||||
Sandvik AB | 582 | 8,209 | ||||||
Securitas AB (Class B) | 904 | 10,450 | ||||||
Skandinaviska Enskilda Banken AB (Class A) (b) | 1,367 | 18,733 | ||||||
Skanska AB (Class B) | 593 | 13,948 | ||||||
SKF AB (Class B) (b) | 422 | 10,785 | ||||||
Svenska Handelsbanken AB (Class A) (b) | 185 | 9,268 | ||||||
Tele2 AB | 373 | 4,620 | ||||||
Telefonaktiebolaget LM Ericsson (Class B) | 1,106 | 14,704 | ||||||
TeliaSonera AB | 953 | 7,173 | ||||||
Volvo AB (Class A) | 912 | 14,671 | ||||||
156,883 | ||||||||
SWITZERLAND — 3.4% | ||||||||
ABB, Ltd. (a) | 823 | 21,242 | ||||||
ACE, Ltd. | 204 | 20,208 | ||||||
Adecco SA (a) | 159 | 13,239 | ||||||
Cie Financiere Richemont SA | 224 | 21,402 | ||||||
Credit Suisse Group AG (a) | 485 | 15,697 | ||||||
Geberit AG | 65 | 21,303 | ||||||
Givaudan SA (a) | 8 | 12,380 | ||||||
Glencore Xstrata PLC (a) | 1,082 | 5,570 | ||||||
Holcim, Ltd. (a) | 145 | 12,016 | ||||||
Kuehne & Nagel International AG | 77 | 10,783 | ||||||
Nestle SA | 570 | 42,943 | ||||||
Novartis AG | 538 | 45,678 | ||||||
Pentair, Ltd. | 23 | 1,825 | ||||||
Roche Holding AG | 200 | 59,999 | ||||||
SGS SA | 8 | 19,734 | ||||||
Swiss Re AG (a) | 193 | 17,905 | ||||||
Syngenta AG | 20 | 7,569 | ||||||
TE Connectivity, Ltd. (b) | 407 | 24,506 | ||||||
The Swatch Group AG | 24 | 15,052 | ||||||
Transocean, Ltd. | 145 | 5,978 | ||||||
UBS AG (a) | 1,244 | 25,715 | ||||||
Zurich Insurance Group AG (a) | 39 | 11,982 | ||||||
432,726 | ||||||||
TAIWAN — 1.1% | ||||||||
Advanced Semiconductor Engineering Inc, ADR (b) | 2,350 | 13,043 | ||||||
AU Optronics Corp. ADR (a)(b) | 2,021 | 7,033 | ||||||
Chunghwa Telecom Co., Ltd. ADR | 536 | 16,444 | ||||||
Hon Hai Precision Industry Co., Ltd. GDR | 3,264 | 18,719 | ||||||
Siliconware Precision Industries Co. ADR (b) | 3,363 | 22,364 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 2,233 | 44,705 | ||||||
United Microelectronics Corp. ADR (b) | 5,254 | 10,928 | ||||||
133,236 | ||||||||
THAILAND — 0.1% | ||||||||
Bangkok Bank PCL | 2,200 | 12,173 | ||||||
PTT PCL | 400 | 3,638 | ||||||
15,811 | ||||||||
TURKEY — 0.2% | ||||||||
Akbank TAS | 1,488 | 4,730 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS | 8,149 | 9,600 | ||||||
Turkiye Garanti Bankasi AS | 1,722 | 5,892 | ||||||
Turkiye Is Bankasi (Class C) | 3,950 | 8,771 | ||||||
28,993 | ||||||||
UNITED KINGDOM — 8.0% | ||||||||
3i Group PLC | 3,609 | 23,941 | ||||||
Anglo American PLC | 454 | 11,554 |
See accompanying notes to financial statements.
202
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
AstraZeneca PLC | 360 | $ | 23,266 | |||||
BAE Systems PLC | 1,815 | 12,533 | ||||||
Barclays PLC | 4,832 | 18,802 | ||||||
BG Group PLC | 908 | 16,916 | ||||||
BHP Billiton PLC | 619 | 19,029 | ||||||
BP PLC | 5,164 | 41,324 | ||||||
British American Tobacco PLC | 104 | 5,783 | ||||||
British Land Co. PLC | 1,291 | 14,076 | ||||||
British Sky Broadcasting Group PLC | 409 | 6,225 | ||||||
BT Group PLC | 4,234 | 26,788 | ||||||
Burberry Group PLC | 322 | 7,489 | ||||||
Capita Group PLC | 1,094 | 19,990 | ||||||
Cobham PLC | 5,390 | 26,868 | ||||||
Compass Group PLC | 975 | 14,873 | ||||||
Diageo PLC | 554 | 17,188 | ||||||
Experian PLC | 755 | 13,607 | ||||||
G4S PLC | 1,269 | 5,109 | ||||||
GlaxoSmithKline PLC | 1,273 | 33,776 | ||||||
Hammerson PLC | 2,053 | 18,962 | ||||||
HSBC Holdings PLC | 4,517 | 45,748 | ||||||
Imperial Tobacco Group PLC | 204 | 8,241 | ||||||
Intercontinental Hotels Group PLC | 556 | 17,862 | ||||||
J Sainsbury PLC (b) | 1,500 | 7,905 | ||||||
Land Securities Group PLC | 897 | 15,268 | ||||||
Liberty Global PLC (Class A) (a) | 204 | 8,486 | ||||||
Liberty Global PLC, (Series C) (a)(b) | 204 | 8,305 | ||||||
Lloyds Banking Group PLC (a) | 17,630 | 21,941 | ||||||
Marks & Spencer Group PLC | 2,072 | 15,596 | ||||||
National Grid PLC | 401 | 5,495 | ||||||
Next PLC | 147 | 16,175 | ||||||
Noble Corp. PLC (b) | 407 | 13,325 | ||||||
Old Mutual PLC | 3,053 | 10,236 | ||||||
Pearson PLC | 244 | 4,324 | ||||||
Prudential PLC | 988 | 20,894 | ||||||
Randgold Resources, Ltd. | 59 | 4,428 | ||||||
Reckitt Benckiser Group PLC | 163 | 13,280 | ||||||
Reed Elsevier PLC | 635 | 9,697 | ||||||
Rio Tinto PLC | 437 | 24,315 | ||||||
Rolls-Royce Holdings PLC (a) | 643 | 11,513 | ||||||
Royal Dutch Shell PLC (Class A) | 66 | 2,411 | ||||||
Royal Dutch Shell PLC (Class B) | 1,549 | 60,441 | ||||||
RSA Insurance Group PLC | 6,635 | 9,906 | ||||||
SABMiller PLC | 267 | 13,332 | ||||||
Scottish & Southern Energy PLC | 326 | 7,984 | ||||||
Severn Trent PLC | 509 | 15,470 | ||||||
Smith & Nephew PLC | 922 | 13,972 | ||||||
Smiths Group PLC | 711 | 15,078 | ||||||
Standard Chartered PLC | 712 | 14,879 | ||||||
Standard Life PLC | 4,181 | 26,313 | ||||||
Tesco PLC | 2,406 | 11,849 | ||||||
The Sage Group PLC | 3,462 | 24,131 | ||||||
Tullow Oil PLC | 362 | 4,517 | ||||||
Unilever PLC | 312 | 13,321 | ||||||
United Utilities Group PLC | 906 | 11,902 | ||||||
Vodafone Group PLC | 7,421 | 27,255 | ||||||
Whitbread PLC | 666 | 46,212 | ||||||
Wolseley PLC | 173 | 9,838 | ||||||
WPP PLC | 701 | 14,457 | ||||||
1,004,401 | ||||||||
UNITED STATES — 48.9% | ||||||||
3M Co. (b) | 204 | 27,675 | ||||||
Abbott Laboratories (b) | 407 | 15,674 | ||||||
AbbVie, Inc. | 200 | 10,280 | ||||||
Adobe Systems, Inc. (a) | 611 | 40,167 | ||||||
Aetna, Inc. (b) | 407 | 30,513 | ||||||
Aflac, Inc. | 407 | 25,657 | ||||||
Agilent Technologies, Inc. | 407 | 22,759 | ||||||
Alexion Pharmaceuticals, Inc. (a) | 204 | 31,035 | ||||||
Allergan, Inc. (b) | 204 | 25,316 | ||||||
Altera Corp. (b) | 204 | 7,393 | ||||||
Altria Group, Inc. | 407 | 15,234 | ||||||
Amazon.com, Inc. (a) | 204 | 68,650 | ||||||
American Capital Agency Corp. | 204 | 4,384 | ||||||
American Electric Power Co., Inc. | 407 | 20,619 | ||||||
American Express Co. | 407 | 36,642 | ||||||
American Tower Corp. | 204 | 16,701 | ||||||
Amgen, Inc. | 407 | 50,199 | ||||||
Anadarko Petroleum Corp. | 204 | 17,291 | ||||||
Annaly Capital Management, Inc. (b) | 407 | 4,465 | ||||||
Apache Corp. (b) | 204 | 16,922 | ||||||
Apple, Inc. | 204 | 109,495 | ||||||
Applied Materials, Inc. | 1,424 | 29,078 | ||||||
Archer-Daniels-Midland Co. | 611 | 26,511 | ||||||
AT&T, Inc. | 1,424 | 49,940 | ||||||
Automatic Data Processing, Inc. | 204 | 15,761 | ||||||
Baker Hughes, Inc. | 407 | 26,463 | ||||||
Bank of America Corp. (b) | 3,461 | 59,529 | ||||||
Baxter International, Inc. | 407 | 29,947 | ||||||
Becton, Dickinson and Co. | 204 | 23,884 | ||||||
Bed Bath & Beyond, Inc. (a) | 204 | 14,035 | ||||||
Berkshire Hathaway, Inc. (Class B) (a)(b) | 204 | 25,494 | ||||||
Biogen Idec, Inc. (a) | 204 | 62,397 | ||||||
Bristol-Myers Squibb Co. | 611 | 31,741 | ||||||
Broadcom Corp. (Class A) (b) | 407 | 12,812 | ||||||
C.H. Robinson Worldwide, Inc. (b) | 204 | 10,688 | ||||||
Cameron International Corp. (a)(b) | 407 | 25,140 | ||||||
Capital One Financial Corp. | 204 | 15,741 | ||||||
Carnival Corp. (b) | 204 | 7,723 | ||||||
Caterpillar, Inc. (b) | 204 | 20,271 | ||||||
CBS Corp. | 407 | 25,153 | ||||||
Celgene Corp. (a)(b) | 204 | 28,478 | ||||||
CenturyLink, Inc. (b) | 407 | 13,366 | ||||||
Chesapeake Energy Corp. (b) | 611 | 15,654 | ||||||
Chevron Corp. (b) | 611 | 72,654 | ||||||
Church & Dwight Co., Inc. (b) | 407 | 28,111 | ||||||
Cisco Systems, Inc. (b) | 2,035 | 45,604 | ||||||
Citigroup, Inc. (b) | 1,018 | 48,457 | ||||||
Citrix Systems, Inc. (a) | 204 | 11,716 | ||||||
Coach, Inc. (b) | 204 | 10,131 | ||||||
Cognizant Technology Solutions Corp. (Class A) (a) | 408 | 20,649 | ||||||
Colgate-Palmolive Co. | 407 | 26,402 | ||||||
Comcast Corp. (Class A) Special | 1,018 | 49,638 | ||||||
ConAgra Foods, Inc. | 407 | 12,629 | ||||||
ConocoPhillips (b) | 407 | 28,632 | ||||||
Corning, Inc. (b) | 815 | 16,968 | ||||||
Costco Wholesale Corp. | 204 | 22,783 |
See accompanying notes to financial statements.
203
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
CST Brands, Inc. (b) | 22 | $ | 687 | |||||
CSX Corp. | 815 | 23,611 | ||||||
Cummins, Inc. | 204 | 30,394 | ||||||
CVS Caremark Corp. | 407 | 30,468 | ||||||
Danaher Corp. (b) | 407 | 30,525 | ||||||
Deere & Co. | 204 | 18,523 | ||||||
Devon Energy Corp. (b) | 204 | 13,654 | ||||||
DIRECTV (Class A) (a)(b) | 204 | 15,590 | ||||||
Discover Financial Services | 407 | 23,683 | ||||||
Dollar Tree, Inc. (a)(b) | 407 | 21,237 | ||||||
Duke Energy Corp. | 222 | 15,811 | ||||||
E. I. du Pont de Nemours & Co. (b) | 407 | 27,310 | ||||||
eBay, Inc. (a)(b) | 611 | 33,752 | ||||||
Ecolab, Inc. | 204 | 22,030 | ||||||
Edison International (b) | 407 | 23,040 | ||||||
Eli Lilly & Co. | 407 | 23,956 | ||||||
EMC Corp. (b) | 815 | 22,339 | ||||||
Emerson Electric Co. | 407 | 27,188 | ||||||
EOG Resources, Inc. (b) | 204 | 40,019 | ||||||
Equity Residential (b) | 204 | 11,830 | ||||||
Exelon Corp. (b) | 407 | 13,659 | ||||||
Express Scripts Holding Co. (a) | 285 | 21,401 | ||||||
Exxon Mobil Corp. | 1,222 | 119,365 | ||||||
Fastenal Co. (b) | 204 | 10,061 | ||||||
FedEx Corp. | 204 | 27,042 | ||||||
FirstEnergy Corp. (b) | 407 | 13,850 | ||||||
FMC Technologies, Inc. (a) | 407 | 21,282 | ||||||
Ford Motor Co. (b) | 1,628 | 25,397 | ||||||
Franklin Resources, Inc. (b) | 611 | 33,104 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 407 | 13,459 | ||||||
General Dynamics Corp. | 204 | 22,220 | ||||||
General Electric Co. | 3,054 | 79,068 | ||||||
General Mills, Inc. | 204 | 10,571 | ||||||
General Motors Co. (b) | 407 | 14,009 | ||||||
Gilead Sciences, Inc. (a)(b) | 815 | 57,751 | ||||||
Google, Inc. (Class A) (a)(b) | 100 | 111,451 | ||||||
Halliburton Co. | 407 | 23,968 | ||||||
HCP, Inc. | 611 | 23,701 | ||||||
Hess Corp. | 204 | 16,908 | ||||||
Hewlett-Packard Co. (b) | 815 | 26,373 | ||||||
Hillshire Brands Co. | 122 | 4,546 | ||||||
Honeywell International, Inc. (b) | 407 | 37,753 | ||||||
Illinois Tool Works, Inc. (b) | 407 | 33,101 | ||||||
Ingersoll-Rand PLC | 407 | 23,297 | ||||||
Intel Corp. | 1,628 | 42,019 | ||||||
International Business Machines Corp. (b) | 407 | 78,343 | ||||||
Intuit, Inc. (b) | 204 | 15,857 | ||||||
Johnson & Johnson | 611 | 60,019 | ||||||
Johnson Controls, Inc. | 407 | 19,259 | ||||||
JPMorgan Chase & Co. (b) | 1,222 | 74,188 | ||||||
Juniper Networks, Inc. (a)(b) | 407 | 10,484 | ||||||
Kellogg Co. (b) | 204 | 12,793 | ||||||
Kimberly-Clark Corp. | 204 | 22,491 | ||||||
Kinder Morgan Management, LLC (a)(b) | 228 | 16,341 | ||||||
Kinder Morgan, Inc. (b) | 42 | 1,365 | ||||||
Kohl’s Corp. (b) | 204 | 11,587 | ||||||
Kraft Foods Group, Inc. (b) | 33 | 1,851 | ||||||
L Brands, Inc. (b) | 407 | 23,105 | ||||||
Las Vegas Sands Corp. | 204 | 16,479 | ||||||
Liberty Interactive Corp. (Class A) (a) | 407 | 11,750 | ||||||
Liberty Ventures, (Series A) (a)(b) | 14 | 1,825 | ||||||
Lockheed Martin Corp. (b) | 204 | 33,301 | ||||||
Lowe’s Cos., Inc. (b) | 611 | 29,878 | ||||||
Macy’s, Inc. (b) | 407 | 24,131 | ||||||
Marathon Oil Corp. | 611 | 21,703 | ||||||
Marathon Petroleum Corp. (b) | 204 | 17,756 | ||||||
Marsh & McLennan Cos., Inc. (b) | 407 | 20,065 | ||||||
Mattel, Inc. (b) | 815 | 32,690 | ||||||
McCormick & Co., Inc. (b) | 611 | 43,833 | ||||||
McDonald’s Corp. (b) | 204 | 19,998 | ||||||
McKesson Corp. | 204 | 36,020 | ||||||
Mead Johnson Nutrition Co. (b) | 204 | 16,961 | ||||||
Medtronic, Inc. | 611 | 37,601 | ||||||
Merck & Co., Inc. | 815 | 46,268 | ||||||
MetLife, Inc. | 611 | 32,261 | ||||||
Microsoft Corp. | 2,239 | 91,777 | ||||||
Mondelez International, Inc. (Class A) (b) | 204 | 7,048 | ||||||
Monsanto Co. | 204 | 23,209 | ||||||
Morgan Stanley (b) | 611 | 19,045 | ||||||
National Oilwell Varco, Inc. (b) | 204 | 15,885 | ||||||
NetApp, Inc. | 204 | 7,528 | ||||||
Newmont Mining Corp. | 204 | 4,782 | ||||||
News Corp. (Class A) (a) | 124 | 2,135 | ||||||
NextEra Energy, Inc. (b) | 204 | 19,506 | ||||||
NIKE, Inc. (Class B) | 407 | 30,061 | ||||||
Noble Energy, Inc. | 407 | 28,913 | ||||||
Norfolk Southern Corp. (b) | 204 | 19,823 | ||||||
Northrop Grumman Corp. | 407 | 50,216 | ||||||
O’Reilly Automotive, Inc. (a) | 204 | 30,272 | ||||||
Occidental Petroleum Corp. | 407 | 38,783 | ||||||
Oracle Corp. (b) | 1,424 | 58,256 | ||||||
Parker Hannifin Corp. (b) | 204 | 24,421 | ||||||
PepsiCo, Inc. | 407 | 33,984 | ||||||
Pfizer, Inc. (b) | 2,011 | 64,593 | ||||||
PG&E Corp. (b) | 204 | 8,813 | ||||||
Philip Morris International, Inc. | 407 | 33,321 | ||||||
Phillips 66 (b) | 100 | 7,706 | ||||||
Pioneer Natural Resources Co. (b) | 204 | 38,177 | ||||||
PNC Financial Services Group, Inc. | 204 | 17,748 | ||||||
PPL Corp. (b) | 611 | 20,249 | ||||||
Praxair, Inc. (b) | 204 | 26,718 | ||||||
ProLogis (b) | 611 | 24,947 | ||||||
Prudential Financial, Inc. | 407 | 34,453 | ||||||
Public Service Enterprise Group, Inc. (b) | 407 | 15,523 | ||||||
Public Storage | 204 | 34,372 | ||||||
QUALCOMM, Inc. (b) | 611 | 48,183 | ||||||
Range Resources Corp. | 204 | 16,926 | ||||||
Raytheon Co. (b) | 204 | 20,153 | ||||||
Retail Opportunity Investments Corp. (b) | 3,054 | 45,627 | ||||||
Rockville Financial, Inc. | 3,257 | 44,263 | ||||||
Ross Stores, Inc. | 204 | 14,596 | ||||||
Salesforce.com, Inc. (a)(b) | 815 | 46,528 | ||||||
SanDisk Corp. | 204 | 16,563 | ||||||
Simon Property Group, Inc. (b) | 204 | 33,456 | ||||||
Southern Co. (b) | 204 | 8,964 |
See accompanying notes to financial statements.
204
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Southwestern Energy Co. (a)(b) | 204 | $ | 9,386 | |||||
Spectra Energy Corp. (b) | 407 | 15,035 | ||||||
St. Jude Medical, Inc. | 407 | 26,614 | ||||||
Starbucks Corp. | 407 | 29,866 | ||||||
State Street Corp. | 204 | 14,188 | ||||||
Sysco Corp. (b) | 407 | 14,705 | ||||||
Target Corp. | 204 | 12,344 | ||||||
Texas Instruments, Inc. | 611 | 28,809 | ||||||
The ADT Corp. (b) | 50 | 1,497 | ||||||
The Allstate Corp. | 407 | 23,028 | ||||||
The Bank of New York Mellon Corp. (b) | 611 | 21,562 | ||||||
The Boeing Co. | 204 | 25,600 | ||||||
The Charles Schwab Corp. (b) | 1,018 | 27,822 | ||||||
The Chubb Corp. (b) | 204 | 18,217 | ||||||
The Clorox Co. (b) | 204 | 17,954 | ||||||
The Coca-Cola Co. (b) | 815 | 31,508 | ||||||
The Dow Chemical Co. (b) | 611 | 29,688 | ||||||
The Estee Lauder Cos., Inc. (Class A) (b) | 204 | 13,644 | ||||||
The Goldman Sachs Group, Inc. | 204 | 33,425 | ||||||
The Hershey Co. (b) | 204 | 21,298 | ||||||
The Home Depot, Inc. | 407 | 32,206 | ||||||
The J.M. Smucker Co. | 204 | 19,837 | ||||||
The Mosaic Co. | 204 | 10,200 | ||||||
The Procter & Gamble Co. | 407 | 32,804 | ||||||
The Travelers Cos., Inc. (b) | 204 | 17,360 | ||||||
The Walt Disney Co. | 611 | 48,923 | ||||||
The Williams Cos., Inc. (b) | 611 | 24,794 | ||||||
Thermo Fisher Scientific, Inc. | 407 | 48,938 | ||||||
Time Warner Cable, Inc. | 204 | 27,985 | ||||||
Time Warner, Inc. (b) | 407 | 26,589 | ||||||
TJX Cos., Inc. | 407 | 24,685 | ||||||
Twenty-First Century Fox, Inc. (b) | 1,018 | 32,545 | ||||||
Tyco International, Ltd. | 204 | 8,650 | ||||||
Tyson Foods, Inc. (Class A) (b) | 815 | 35,868 | ||||||
U.S. Bancorp (b) | 611 | 26,187 | ||||||
Union Pacific Corp. | 204 | 38,283 | ||||||
United Parcel Service, Inc. (Class B) | 204 | 19,866 | ||||||
United Technologies Corp. | 204 | 23,835 | ||||||
UnitedHealth Group, Inc. (b) | 407 | 33,370 | ||||||
Valero Energy Corp. | 407 | 21,612 | ||||||
Vector Group, Ltd. (b) | 2,017 | 43,446 | ||||||
Verizon Communications, Inc. (b) | 968 | 46,048 | ||||||
Viacom, Inc. (Class B) | 204 | 17,338 | ||||||
Visa, Inc. (Class A) (b) | 204 | 44,035 | ||||||
Wal-Mart Stores, Inc. | 407 | 31,107 | ||||||
Walgreen Co. | 407 | 26,874 | ||||||
Waste Management, Inc. (b) | 407 | 17,122 | ||||||
Weatherford International, Ltd. (a) | 1,018 | 17,672 | ||||||
WellPoint, Inc. | 204 | 20,308 | ||||||
Wells Fargo & Co. (b) | 1,628 | 80,977 | ||||||
Western Digital Corp. | 204 | 18,731 | ||||||
Whole Foods Market, Inc. (b) | 407 | 20,639 | ||||||
Yahoo!, Inc. (a)(b) | 611 | 21,935 | ||||||
Yum! Brands, Inc. (b) | 204 | 15,380 | ||||||
Zoetis, Inc. | 23 | 665 | ||||||
6,152,984 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $10,998,286) | 12,420,684 | |||||||
RIGHTS — 0.0% (d) | ||||||||
HONG KONG — 0.0% (d) | ||||||||
New World Development Co., Ltd. (expiring 4/17/14) (a) | 2,075 | 428 | ||||||
SPAIN — 0.0% (d) | ||||||||
Banco Bilbao Vizcaya Argentaria SA (expiring 4/14/14) (a) | 1,576 | 369 | ||||||
UNITED KINGDOM — 0.0% (d) | ||||||||
RSA Insurance Group PLC (expiring 4/9/14) (a) | 2,488 | 1,390 | ||||||
TOTAL RIGHTS — | ||||||||
(Cost $364) | 2,187 | |||||||
SHORT TERM INVESTMENTS — 20.1% | ||||||||
UNITED STATES — 20.1% | ||||||||
MONEY MARKET FUNDS — 20.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (f)(g) | 2,424,184 | 2,424,184 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (g)(h) | 108,316 | 108,316 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $2,532,500) | 2,532,500 | |||||||
TOTAL INVESTMENTS — 118.8% | ||||||||
(Cost $13,531,150) | 14,955,371 | |||||||
OTHER ASSETS & LIABILITIES — (18.8)% | (2,371,689 | ) | ||||||
NET ASSETS — 100.0% | $ | 12,583,682 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 0.1% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(f) | Investments of cash collateral for securities loaned | |||||
(g) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(h) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
205
SPDR MSCI EM 50 ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
BRAZIL — 9.5% | ||||||||
Banco Bradesco SA Preference Shares ADR (a) | 7,019 | $ | 95,950 | |||||
BRF — Brasil Foods SA ADR | 2,226 | 44,475 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 8,419 | 125,106 | ||||||
Petroleo Brasileiro SA ADR (a) | 7,122 | 98,782 | ||||||
Vale SA Preference Shares ADR | 6,388 | 79,531 | ||||||
443,844 | ||||||||
CHINA — 21.7% | ||||||||
Agricultural Bank of China, Ltd. | 73,000 | 31,808 | ||||||
Bank of China, Ltd. | 251,196 | 111,397 | ||||||
China Construction Bank Corp. | 243,154 | 170,210 | ||||||
China Life Insurance Co., Ltd. | 25,584 | 72,395 | ||||||
China Petroleum & Chemical Corp. | 85,600 | 76,584 | ||||||
China Shenhua Energy Co., Ltd. | 11,144 | 32,180 | ||||||
Industrial & Commercial Bank of China | 248,454 | 152,780 | ||||||
PetroChina Co., Ltd. | 70,812 | 77,138 | ||||||
Ping An Insurance Group Co. of China, Ltd. (a) | 6,500 | 53,880 | ||||||
Tencent Holdings, Ltd. | 3,500 | 243,424 | ||||||
1,021,796 | ||||||||
HONG KONG — 6.6% | ||||||||
China Mobile, Ltd. | 20,355 | 186,308 | ||||||
China Overseas Land & Investment, Ltd. (a) | 14,000 | 36,277 | ||||||
CNOOC, Ltd. | 59,362 | 89,230 | ||||||
311,815 | ||||||||
INDIA — 1.3% | ||||||||
ICICI Bank, Ltd. ADR (a) | 1,435 | 62,853 | ||||||
MEXICO — 6.1% | ||||||||
America Movil SAB de CV, ADR, Series L (a) | 5,925 | 117,789 | ||||||
Cemex SAB de CV ADR (a)(b) | 3,823 | 48,285 | ||||||
Fomento Economico Mexicano SAB de CV, ADR (a) | 674 | 62,844 | ||||||
Grupo Televisa SA de CV ADR (a) | 1,729 | 57,558 | ||||||
286,476 | ||||||||
RUSSIA — 9.5% | ||||||||
Gazprom OAO ADR | 19,967 | 153,746 | ||||||
Lukoil OAO ADR | 1,704 | 94,674 | ||||||
Magnit OJSC GDR | 874 | 47,895 | ||||||
Mobile Telesystems OJSC ADR | 1,694 | 29,628 | ||||||
NovaTek OAO GDR | 309 | 33,990 | ||||||
Sberbank of Russia ADR | 9,014 | 87,616 | ||||||
447,549 | ||||||||
SOUTH AFRICA — 9.0% | ||||||||
MTN Group, Ltd. (a) | 5,658 | 115,953 | ||||||
Naspers, Ltd. | 1,333 | 147,184 | ||||||
Sasol, Ltd. | 1,851 | 103,756 | ||||||
Standard Bank Group, Ltd. (a) | 4,076 | 53,789 | ||||||
420,682 | ||||||||
SOUTH KOREA — 22.2% | ||||||||
Hyundai Mobis | 229 | 67,767 | ||||||
Hyundai Motor Co. | 514 | 121,202 | ||||||
KB Financial Group, Inc. ADR (b) | 1,298 | 45,625 | ||||||
Kia Motors Corp. | 893 | 49,749 | ||||||
LG Chem, Ltd. | 157 | 37,463 | ||||||
NAVER Corp. | 94 | 68,351 | ||||||
POSCO ADR (a) | 877 | 60,873 | ||||||
Samsung Electronics Co., Ltd. GDR | 745 | 468,605 | ||||||
Shinhan Financial Group Co., Ltd. ADR (b) | 1,435 | 63,068 | ||||||
SK Hynix, Inc. (b) | 1,800 | 60,877 | ||||||
1,043,580 | ||||||||
TAIWAN — 14.0% | ||||||||
Cathay Financial Holding Co., Ltd. | 26,000 | 37,908 | ||||||
China Steel Corp. | 38,275 | 32,239 | ||||||
Chunghwa Telecom Co., Ltd. ADR | 1,300 | 39,884 | ||||||
Formosa Plastics Corp. | 14,280 | 35,732 | ||||||
Hon Hai Precision Industry Co., Ltd. GDR | 18,882 | 108,288 | ||||||
MediaTek, Inc. | 5,000 | 73,804 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 16,582 | 331,972 | ||||||
659,827 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $4,700,337) | 4,698,422 | |||||||
SHORT TERM INVESTMENTS — 14.1% | ||||||||
UNITED STATES — 14.1% | ||||||||
MONEY MARKET FUNDS — 14.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 657,241 | 657,241 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 2,988 | 2,988 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $660,229) | 660,229 | |||||||
TOTAL INVESTMENTS — 114.0% | ||||||||
(Cost $5,360,566) | 5,358,651 | |||||||
OTHER ASSETS & LIABILITIES — (14.0)% | (657,150 | ) | ||||||
NET ASSETS — 100.0% | $ | 4,701,501 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
See accompanying notes to financial statements.
206
SPDR MSCI EM Beyond BRIC ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
CHILE — 3.8% | ||||||||
Banco Santander Chile ADR | 1,596 | $ | 37,410 | |||||
Cencosud SA, ADR | 2,309 | 22,605 | ||||||
Cia Cervecerias Unidas SA | 575 | 6,421 | ||||||
Corpbanca SA | 489,833 | 5,825 | ||||||
Empresa Nacional de Electricidad SA ADR | 998 | 43,094 | ||||||
Empresas COPEC SA | 822 | 10,731 | ||||||
Enersis SA ADR | 2,872 | 44,602 | ||||||
Latam Airlines Group SA, ADR | 2,017 | 30,356 | ||||||
SACI Falabella | 1,317 | 11,591 | ||||||
Sociedad Quimica y Minera de Chile SA ADR | 623 | 19,774 | ||||||
232,409 | ||||||||
COLOMBIA — 2.3% | ||||||||
Almacenes Exito SA | 1,026 | 15,470 | ||||||
BanColombia SA ADR (a) | 626 | 35,357 | ||||||
Cementos Argos SA | 2,838 | 14,533 | ||||||
Ecopetrol SA, ADR (a) | 900 | 36,711 | ||||||
Grupo de Inversiones Suramericana SA | 1,384 | 25,663 | ||||||
Interconexion Electrica SA ESP | 2,960 | 13,218 | ||||||
140,952 | ||||||||
CZECH REPUBLIC — 0.8% | ||||||||
CEZ AS | 718 | 20,598 | ||||||
Komercni Banka AS | 72 | 17,219 | ||||||
Telefonica O2 Czech Republic AS | 682 | 10,246 | ||||||
48,063 | ||||||||
EGYPT — 0.5% | ||||||||
Commercial International Bank Egypt SAE, GDR | 3,236 | 15,727 | ||||||
Global Telecom Holding GDR (b) | 4,500 | 14,931 | ||||||
30,658 | ||||||||
GREECE — 1.4% | ||||||||
Folli Follie SA (b) | 205 | 7,572 | ||||||
Hellenic Telecommunications Organization SA (b) | 950 | 15,712 | ||||||
JUMBO SA (b) | 595 | 10,661 | ||||||
National Bank of Greece SA (b) | 1,300 | 7,059 | ||||||
OPAP SA | 866 | 13,965 | ||||||
Piraeus Bank SA (b) | 3,929 | 10,830 | ||||||
Public Power Corp. SA | 572 | 9,460 | ||||||
Titan Cement Co. SA (b) | 249 | 8,714 | ||||||
83,973 | ||||||||
HUNGARY — 0.6% | ||||||||
MOL Hungarian Oil and Gas NyRt | 238 | 13,391 | ||||||
OTP Bank NyRt | 914 | 17,505 | ||||||
Richter Gedeon NyRt | 540 | 9,418 | ||||||
40,314 | ||||||||
INDONESIA — 6.6% | ||||||||
Adaro Energy Tbk PT | 70,000 | 6,039 | ||||||
Astra International Tbk PT | 85,000 | 55,183 | ||||||
Bank Central Asia Tbk PT | 54,000 | 50,387 | ||||||
Bank Mandiri Tbk PT | 42,000 | 34,938 | ||||||
Bank Negara Indonesia Persero Tbk PT | 40,000 | 17,465 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 49,000 | 41,301 | ||||||
Charoen Pokphand Indonesia Tbk PT | 36,000 | 12,660 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 8,000 | 16,461 | ||||||
Indofood Sukses Makmur Tbk PT | 25,000 | 16,065 | ||||||
Kalbe Farma Tbk PT | 135,000 | 17,410 | ||||||
Lippo Karawaci Tbk PT | 112,000 | 10,697 | ||||||
Matahari Department Store Tbk PT (b) | 6,300 | 7,709 | ||||||
Perusahaan Gas Negara Persero Tbk PT | 52,000 | 23,459 | ||||||
Semen Gresik Persero Tbk PT | 15,000 | 20,863 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 199,000 | 38,801 | ||||||
Unilever Indonesia Tbk PT | 7,000 | 18,024 | ||||||
United Tractors Tbk PT | 9,000 | 16,439 | ||||||
403,901 | ||||||||
MALAYSIA — 9.4% | ||||||||
Alliance Financial Group Bhd | 7,000 | 9,453 | ||||||
AMMB Holdings Bhd | 7,000 | 15,391 | ||||||
Axiata Group Bhd | 9,400 | 19,200 | ||||||
British American Tobacco Malaysia Bhd | 800 | 14,484 | ||||||
Bumi Armada Bhd | 9,400 | 11,255 | ||||||
CIMB Group Holdings Bhd | 18,000 | 39,412 | ||||||
Digi.Com Bhd | 16,400 | 27,070 | ||||||
Felda Global Ventures Holdings Bhd | 9,200 | 13,101 | ||||||
Gamuda Bhd | 12,000 | 17,308 | ||||||
Genting Bhd | 9,200 | 28,173 | ||||||
Genting Malaysia Bhd | 14,200 | 18,264 | ||||||
Hong Leong Bank Bhd | 2,600 | 11,258 | ||||||
IHH Healthcare Bhd (b) | 12,200 | 14,384 | ||||||
IJM Corp. Bhd | 9,200 | 17,298 | ||||||
IOI Corp. Bhd | 11,000 | 16,169 | ||||||
IOI Properties Group Sdn Bhd (b) | 5,499 | 4,479 | ||||||
Kuala Lumpur Kepong Bhd | 2,400 | 17,786 | ||||||
Malayan Banking Bhd | 15,400 | 45,651 | ||||||
Malaysia Airports Holdings Bhd | 4,634 | 11,353 | ||||||
Maxis Bhd | 8,600 | 18,330 | ||||||
Petronas Chemicals Group Bhd | 10,200 | 21,584 | ||||||
Petronas Dagangan Bhd | 1,600 | 15,042 | ||||||
Petronas Gas Bhd | 2,600 | 18,950 | ||||||
PPB Group Bhd | 2,800 | 14,251 | ||||||
Public Bank Bhd | 2,600 | 15,287 | ||||||
Sapurakencana Petroleum Bhd (b) | 16,600 | 22,875 | ||||||
Sime Darby Bhd | 9,175 | 26,158 | ||||||
Telekom Malaysia Bhd | 6,400 | 11,544 | ||||||
Tenaga Nasional Bhd | 10,800 | 39,555 | ||||||
UMW Holdings Bhd | 2,800 | 9,415 | ||||||
YTL Corp. Bhd | 28,400 | 13,306 | ||||||
577,786 | ||||||||
MEXICO — 12.2% | ||||||||
Alfa SAB de CV (Class A) | 12,168 | 30,791 | ||||||
America Movil SAB de CV | 136,352 | 135,216 | ||||||
Cemex SAB de CV (b) | 47,671 | 60,280 | ||||||
Coca-Cola Femsa SAB de CV | 1,994 | 20,993 | ||||||
Compartamos SAB de CV | 3,686 | 6,740 | ||||||
Fibra Uno Administracion SA de CV | 6,225 | 20,146 | ||||||
Fomento Economico Mexicano SAB de CV | 7,979 | 74,362 | ||||||
Genomma Lab Internacional SAB de CV (Class B) (b) | 4,190 | 10,779 | ||||||
Grupo Aeroportuario del Sureste SAB de CV | 1,396 | 17,131 | ||||||
Grupo Bimbo SAB de CV | 7,381 | 19,933 | ||||||
Grupo Carso SA de CV | 2,792 | 14,697 | ||||||
Grupo Financiero Banorte SAB de CV | 9,775 | 65,795 |
See accompanying notes to financial statements.
207
SPDR MSCI EM Beyond BRIC ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Grupo Financiero Inbursa SA | 9,973 | $ | 25,680 | |||||
Grupo Financiero Santander Mexico SAB de CV (Class B) | 7,979 | 19,561 | ||||||
Grupo Mexico SAB de CV | 15,558 | 49,159 | ||||||
Grupo Televisa SA de CV (Series CPO) | 10,770 | 71,865 | ||||||
Industrias Penoles SA de CV | 608 | 15,898 | ||||||
Kimberly-Clark de Mexico SAB de CV | 7,381 | 19,775 | ||||||
Mexichem SAB de CV | 4,987 | 17,657 | ||||||
Minera Frisco SAB de CV (b) | 1,399 | 2,717 | ||||||
Promotora y Operadora de Infraestructura SAB de CV (b) | 1,100 | 14,843 | ||||||
Wal-Mart de Mexico SAB de CV | 16,814 | 39,919 | ||||||
753,937 | ||||||||
PERU — 1.2% | ||||||||
Compania de Minas Buenaventura SA ADR | 561 | 7,052 | ||||||
Credicorp, Ltd. (a) | 298 | 41,100 | ||||||
Southern Copper Corp. (a) | 798 | 23,230 | ||||||
71,382 | ||||||||
PHILIPPINES — 2.3% | ||||||||
Aboitiz Equity Ventures, Inc. | 11,600 | 14,485 | ||||||
Ayala Corp. | 1,040 | 13,404 | ||||||
Ayala Land, Inc. | 30,000 | 20,002 | ||||||
BDO Unibank, Inc. | 9,480 | 17,968 | ||||||
International Container Terminal Services, Inc. | 5,620 | 13,535 | ||||||
JG Summit Holdings, Inc. | 7,530 | 8,312 | ||||||
Philippine Long Distance Telephone Co. | 230 | 14,002 | ||||||
SM Investments Corp. | 800 | 12,577 | ||||||
SM Prime Holdings, Inc. | 29,000 | 9,441 | ||||||
Universal Robina Corp. | 4,900 | 15,516 | ||||||
139,242 | ||||||||
POLAND — 4.1% | ||||||||
Bank Pekao SA | 562 | 36,569 | ||||||
Bank Zachodni WBK SA | 83 | 11,345 | ||||||
Eurocash SA | 222 | 2,938 | ||||||
KGHM Polska Miedz SA | 628 | 22,635 | ||||||
Mbank | 78 | 13,915 | ||||||
Orange Polska SA | 3,721 | 12,747 | ||||||
Polska Grupa Energetyczna SA | 3,330 | 20,830 | ||||||
Polski Koncern Naftowy Orlen SA | 1,590 | 22,744 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 8,925 | 13,116 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 3,553 | 49,954 | ||||||
Powszechny Zaklad Ubezpieczen SA | 244 | 34,685 | ||||||
Tauron Polska Energia SA | 7,775 | 13,510 | ||||||
254,988 | ||||||||
SOUTH AFRICA — 15.3% | ||||||||
Anglo Platinum, Ltd. (b) | 248 | 11,168 | ||||||
AngloGold Ashanti, Ltd. | 1,344 | 23,371 | ||||||
Aspen Pharmacare Holdings, Ltd. | 998 | 26,691 | ||||||
Barclays Africa Group, Ltd. | 1,156 | 16,376 | ||||||
Bidvest Group, Ltd. | 1,132 | 29,964 | ||||||
Discovery Holdings, Ltd. | 951 | 7,629 | ||||||
Exxaro Resources, Ltd. | 802 | 10,675 | ||||||
FirstRand, Ltd. | 9,979 | 34,250 | ||||||
Gold Fields, Ltd. | 2,748 | 10,589 | ||||||
Growthpoint Properties, Ltd. | 6,909 | 16,028 | ||||||
Impala Platinum Holdings, Ltd. | 1,928 | 21,997 | ||||||
Imperial Holdings, Ltd. | 892 | 15,986 | ||||||
Kumba Iron Ore, Ltd. | 298 | 10,710 | ||||||
Life Healthcare Group Holdings, Ltd. | 4,510 | 16,513 | ||||||
Medi-Clinic Corp., Ltd. | 1,195 | 8,502 | ||||||
MMI Holdings, Ltd. | 4,594 | 10,745 | ||||||
Mr. Price Group, Ltd. | 1,216 | 18,199 | ||||||
MTN Group, Ltd. | 5,501 | 112,735 | ||||||
Naspers, Ltd. | 1,290 | 142,436 | ||||||
Nedbank Group, Ltd. | 732 | 15,592 | ||||||
Redefine Properties, Ltd. | 12,338 | 11,203 | ||||||
Remgro, Ltd. | 1,642 | 31,994 | ||||||
RMB Holdings, Ltd. | 3,228 | 14,719 | ||||||
Sanlam, Ltd. | 6,205 | 33,946 | ||||||
Sasol, Ltd. | 1,742 | 97,646 | ||||||
Shoprite Holdings, Ltd. | 1,506 | 22,795 | ||||||
Standard Bank Group, Ltd. (a) | 3,683 | 48,603 | ||||||
Steinhoff International Holdings, Ltd. (a) | 4,765 | 23,105 | ||||||
The Foschini Group, Ltd. | 1,252 | 12,755 | ||||||
The Spar Group, Ltd. | 1,190 | 13,749 | ||||||
Tiger Brands, Ltd. | 686 | 17,758 | ||||||
Truworths International, Ltd. | 1,886 | 13,852 | ||||||
Vodacom Group, Ltd. | 1,338 | 16,536 | ||||||
Woolworths Holdings, Ltd. | 2,944 | 20,539 | ||||||
939,356 | ||||||||
SOUTH KOREA — 14.2% | ||||||||
Celltrion, Inc. (b) | 67 | 2,769 | ||||||
Cheil Industries, Inc. | 60 | 4,042 | ||||||
E-Mart Co., Ltd. | 54 | 12,378 | ||||||
Hana Financial Group, Inc. | 580 | 21,196 | ||||||
Hankook Tire Co., Ltd. | 198 | 11,235 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 284 | 14,941 | ||||||
Hyundai Heavy Industries Co., Ltd. | 86 | 17,047 | ||||||
Hyundai Mobis | 112 | 33,144 | ||||||
Hyundai Motor Co. | 246 | 58,007 | ||||||
Hyundai Steel Co. | 166 | 10,729 | ||||||
KB Financial Group, Inc. ADR (b) | 728 | 25,589 | ||||||
Kia Motors Corp. | 446 | 24,846 | ||||||
Korea Electric Power Corp. ADR (b) | 918 | 15,762 | ||||||
KT&G Corp. | 266 | 19,992 | ||||||
LG Chem, Ltd. | 102 | 24,339 | ||||||
LG Corp. | 278 | 15,122 | ||||||
LG Display Co., Ltd. ADR (b) | 1,356 | 16,950 | ||||||
LG Electronics, Inc. | 268 | 16,340 | ||||||
LG Household & Health Care, Ltd. | 26 | 11,224 | ||||||
Lotte Shopping Co., Ltd. | 36 | 11,330 | ||||||
NAVER Corp. | 43 | 31,267 | ||||||
NCSoft Corp. | 14 | 2,867 | ||||||
POSCO ADR | 446 | 30,957 | ||||||
S-Oil Corp. | 188 | 10,880 | ||||||
Samsung C&T Corp. | 320 | 18,549 | ||||||
Samsung Electro-Mechanics Co., Ltd. | 88 | 5,729 | ||||||
Samsung Electronics Co., Ltd. GDR (c) | 60 | 29,652 | ||||||
Samsung Electronics Co., Ltd. GDR (c) | 332 | 208,828 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 74 | 16,650 | ||||||
Samsung Heavy Industries Co., Ltd. | 420 | 12,567 | ||||||
Samsung Life Insurance Co., Ltd. | 122 | 11,519 | ||||||
Samsung SDI Co., Ltd. | 92 | 13,915 |
See accompanying notes to financial statements.
208
SPDR MSCI EM Beyond BRIC ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Shinhan Financial Group Co., Ltd. ADR (b) | 798 | $ | 35,072 | |||||
SK Holdings Co., Ltd. | 80 | 14,505 | ||||||
SK Hynix, Inc. (b) | 1,020 | 34,497 | ||||||
SK Innovation Co., Ltd. | 150 | 17,192 | ||||||
Woori Finance Holdings Co., Ltd. (b) | 960 | 10,913 | ||||||
872,541 | ||||||||
TAIWAN — 15.3% | ||||||||
Advanced Semiconductor Engineering Inc, ADR (a) | 4,388 | 24,353 | ||||||
Asia Cement Corp. | 12,000 | 14,974 | ||||||
Asustek Computer, Inc. | 2,000 | 19,801 | ||||||
AU Optronics Corp. ADR (b) | 3,589 | 12,490 | ||||||
Catcher Technology Co., Ltd. | 2,000 | 14,482 | ||||||
Cathay Financial Holding Co., Ltd. | 18,000 | 26,244 | ||||||
Chang Hwa Commercial Bank | 16,000 | 9,484 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 4,000 | 11,415 | ||||||
China Development Financial Holding Corp. | 70,000 | 20,021 | ||||||
China Steel Corp. | 26,000 | 21,900 | ||||||
Chinatrust Financial Holding Co., Ltd. | 32,000 | 20,018 | ||||||
Chunghwa Telecom Co., Ltd. ADR | 598 | 18,347 | ||||||
Compal Electronics, Inc. | 14,000 | 9,930 | ||||||
Delta Electronics, Inc. | 4,000 | 24,694 | ||||||
E.Sun Financial Holding Co., Ltd. | 20,000 | 12,052 | ||||||
Far Eastern New Century Corp. | 14,000 | 14,872 | ||||||
Far EasTone Telecommunications Co., Ltd. | 4,000 | 8,472 | ||||||
First Financial Holding Co., Ltd | 20,000 | 11,887 | ||||||
Formosa Chemicals & Fibre Corp. | 8,000 | 19,335 | ||||||
Formosa Plastics Corp. | 10,000 | 25,023 | ||||||
Fubon Financial Holding Co., Ltd. | 14,000 | 18,987 | ||||||
Hon Hai Precision Industry Co., Ltd. GDR | 11,968 | 68,636 | ||||||
HTC Corp. | 2,000 | 10,048 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 20,000 | 11,329 | ||||||
Inventec Co., Ltd. | 5,000 | 4,926 | ||||||
Lite-On Technology Corp. | 8,000 | 11,927 | ||||||
MediaTek, Inc. | 3,000 | 44,282 | ||||||
Mega Financial Holding Co., Ltd. | 24,000 | 18,599 | ||||||
Nan Ya Plastics Corp. | 10,000 | 21,181 | ||||||
Novatek Microelectronics Corp. | 1,000 | 4,581 | ||||||
Pou Chen Corp. | 10,000 | 14,104 | ||||||
President Chain Store Corp. | 2,000 | 14,120 | ||||||
Quanta Computer, Inc. | 8,000 | 21,542 | ||||||
Siliconware Precision Industries Co. ADR | 2,792 | 18,567 | ||||||
SinoPac Financial Holdings Co., Ltd. | 30,000 | 14,432 | ||||||
Taishin Financial Holdings Co., Ltd. | 30,000 | 13,595 | ||||||
Taiwan Cement Corp. | 12,000 | 18,521 | ||||||
Taiwan Cooperative Financial Holding Co., Ltd. | 20,000 | 10,705 | ||||||
Taiwan Mobile Co., Ltd. | 4,000 | 12,531 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 10,047 | 201,141 | ||||||
Uni-President Enterprises Corp. | 12,000 | 20,885 | ||||||
United Microelectronics Corp. | 36,000 | 15,191 | ||||||
Yuanta Financial Holding Co., Ltd. | 30,000 | 15,122 | ||||||
944,746 | ||||||||
THAILAND — 5.5% | ||||||||
Advanced Info Service PCL | 4,400 | 30,653 | ||||||
Airports of Thailand PCL | 2,000 | 11,960 | ||||||
Bangkok Bank PCL ADR NVDR | 6,200 | 34,115 | ||||||
BEC World PCL | 6,600 | 11,088 | ||||||
Central Pattana PCL | 7,800 | 11,301 | ||||||
Charoen Pokphand Foods PCL | 14,400 | 12,429 | ||||||
CP ALL PCL | 19,200 | 25,746 | ||||||
Kasikornbank PCL | 8,000 | 45,623 | ||||||
Krung Thai Bank PCL | 22,200 | 12,797 | ||||||
PTT Exploration & Production PCL | 5,800 | 28,070 | ||||||
PTT Global Chemical PCL | 7,600 | 16,927 | ||||||
PTT PCL | 3,400 | 30,919 | ||||||
Siam Cement PCL NVDR | 2,000 | 25,771 | ||||||
Siam Commercial Bank PCL | 7,600 | 36,899 | ||||||
True Corp. PCL NVDR (b) | 30,700 | 6,530 | ||||||
340,828 | ||||||||
TURKEY — 3.9% | ||||||||
Akbank TAS | 8,129 | 25,840 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 972 | 10,814 | ||||||
BIM Birlesik Magazalar AS | 1,028 | 23,163 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS | 8,095 | 9,536 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 9,031 | 11,652 | ||||||
Haci Omer Sabanci Holding AS | 4,013 | 15,570 | ||||||
KOC Holding AS | 3,284 | 13,847 | ||||||
TAV Havalimanlari Holding AS | 322 | 2,589 | ||||||
Tupras-Turkiye Petrol Rafinerileri AS | 702 | 14,866 | ||||||
Turk Hava Yollari Anonim Ortakligi | 3,392 | 10,449 | ||||||
Turkcell Iletisim Hizmetleri AS (b) | 3,463 | 19,345 | ||||||
Turkiye Garanti Bankasi AS | 10,105 | 34,578 | ||||||
Turkiye Halk Bankasi AS | 3,324 | 20,589 | ||||||
Turkiye Is Bankasi (Class C) | 8,321 | 18,476 | ||||||
Turkiye Vakiflar Bankasi Tao (Class D) | 5,263 | 9,939 | ||||||
241,253 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $6,005,109) | 6,116,329 | |||||||
PREFERRED STOCKS — 0.4% | ||||||||
COLOMBIA — 0.4% | ||||||||
Grupo Argos SA/Colombia Preference Shares (Cost $21,051) | 2,183 | 22,846 | ||||||
SHORT TERM INVESTMENT — 1.9% | ||||||||
UNITED STATES — 1.9% | ||||||||
MONEY MARKET FUND — 1.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) (Cost $119,181) | 119,181 | 119,181 | ||||||
TOTAL INVESTMENTS — 101.7% | ||||||||
(Cost $6,145,341) | 6,258,356 | |||||||
OTHER ASSETS & LIABILITIES — (1.7)% | (102,263 | ) | ||||||
NET ASSETS — 100.0% | $ | 6,156,093 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). |
See accompanying notes to financial statements.
209
SPDR MSCI EM Beyond BRIC ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
See accompanying notes to financial statements.
210
SPDR Russell/Nomura PRIME Japan ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.2% | ||||||||
JAPAN — 99.2% | ||||||||
AIR FREIGHT & LOGISTICS — 0.3% | ||||||||
Yamato Holdings Co., Ltd. | 17,980 | $ | 388,285 | |||||
AIRLINES — 0.4% | ||||||||
All Nippon Airways Co., Ltd. (a) | 75,000 | 162,402 | ||||||
Japan Airlines Co., Ltd. | 7,500 | 369,957 | ||||||
532,359 | ||||||||
AUTO COMPONENTS — 3.3% | ||||||||
Aisin Seiki Co., Ltd. | 8,968 | 324,375 | ||||||
Bridgestone Corp. | 28,503 | 1,012,972 | ||||||
Daido Metal Co., Ltd. | 1,000 | 10,526 | ||||||
Denso Corp. | 19,547 | 939,152 | ||||||
FCC Co., Ltd. | 7,484 | 133,496 | ||||||
Futaba Industrial Co., Ltd. (a)(b) | 3,008 | 13,144 | ||||||
Keihin Corp. | 4,456 | 65,076 | ||||||
Mitsuba Corp. | 600 | 9,869 | ||||||
NGK Spark Plug Co., Ltd. | 15,160 | 341,518 | ||||||
NHK Spring Co., Ltd. | 2,940 | 27,320 | ||||||
Nifco, Inc. (a) | 7,528 | 213,154 | ||||||
Nissin Kogyo Co., Ltd. | 4,516 | 84,413 | ||||||
NOK Corp. | 7,516 | 122,974 | ||||||
Showa Corp. | 11,112 | 122,358 | ||||||
Stanley Electric Co., Ltd. | 4,544 | 101,086 | ||||||
Sumitomo Rubber Industries, Inc. | 13,508 | 172,350 | ||||||
Tokai Rika Co., Ltd. | 20 | 337 | ||||||
Toyo Tire & Rubber Co., Ltd. | 20,851 | 148,003 | ||||||
Toyota Industries Corp. | 8,972 | 432,113 | ||||||
4,274,236 | ||||||||
AUTOMOBILES — 8.5% | ||||||||
Daihatsu Motor Co., Ltd. | 464 | 8,214 | ||||||
Fuji Heavy Industries, Ltd. | 30,347 | 822,730 | ||||||
Honda Motor Co., Ltd. | 70,474 | 2,486,794 | ||||||
Isuzu Motors, Ltd. | 74,651 | 429,849 | ||||||
Mazda Motor Corp. | 120,123 | 534,217 | ||||||
Mitsubishi Motors Corp. | 19,500 | 204,496 | ||||||
Nissan Motor Co., Ltd. | 102,162 | 912,648 | ||||||
Suzuki Motor Corp. | 16,492 | 431,417 | ||||||
Toyota Motor Corp. | 90,777 | 5,135,377 | ||||||
Yamaha Motor Co., Ltd. | 9,016 | 144,014 | ||||||
11,109,756 | ||||||||
BANKS — 9.3% | ||||||||
Chuo Mitsui Trust Holdings, Inc. | 149,981 | 678,654 | ||||||
Fukuoka Financial Group, Inc. | 45,000 | 185,270 | ||||||
Hokuhoku Financial Group, Inc. | 74,658 | 143,538 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 576,800 | 3,175,662 | ||||||
Mizuho Financial Group, Inc. (a) | 1,043,500 | 2,067,039 | ||||||
Resona Holdings, Inc. | 72,000 | 348,866 | ||||||
Shinsei Bank, Ltd. (a) | 74,726 | 147,297 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 60,000 | 2,568,724 | ||||||
Suruga Bank, Ltd. | 496 | 8,756 | ||||||
The 77 Bank, Ltd. | 29,803 | 134,278 | ||||||
The Awa Bank, Ltd. | 29,731 | 158,492 | ||||||
The Bank of Kyoto, Ltd. (a) | 14,916 | 123,401 | ||||||
The Bank of Yokohama, Ltd. | 59,947 | 299,779 | ||||||
The Chiba Bank, Ltd. | 45,063 | 278,294 | ||||||
The Chugoku Bank, Ltd. | 14,504 | 193,790 | ||||||
The Hachijuni Bank, Ltd. | 44,719 | 254,892 | ||||||
The Hiroshima Bank, Ltd. | 44,811 | 187,537 | ||||||
The Hyakugo Bank, Ltd. | 30,147 | 124,118 | ||||||
The Iyo Bank, Ltd. | 14,080 | 134,805 | ||||||
The Joyo Bank, Ltd. | 30,155 | 150,797 | ||||||
The Juroku Bank, Ltd. | 44,883 | 156,895 | ||||||
The Musashino Bank, Ltd. | 3,020 | 100,290 | ||||||
The Nanto Bank, Ltd. | 15,391 | 58,136 | ||||||
The Nishi-Nippon City Bank, Ltd. | 59,799 | 134,713 | ||||||
The Shizuoka Bank, Ltd. | 15,363 | 150,221 | ||||||
Yamaguchi Financial Group, Inc. | 15,076 | 136,143 | ||||||
12,100,387 | ||||||||
BEVERAGES — 1.2% | ||||||||
Asahi Breweries, Ltd. | 19,484 | 546,577 | ||||||
Coca-Cola East Japan Co., Ltd. | 900 | 22,634 | ||||||
Ito En, Ltd. (a) | 11,956 | 268,179 | ||||||
Kirin Holdings Co., Ltd. | 45,207 | 627,723 | ||||||
Takara Holdings, Inc. | 15,479 | 118,289 | ||||||
1,583,402 | ||||||||
BIOTECHNOLOGY — 0.1% | ||||||||
3-D Matrix, Ltd. (a)(b) | 1,000 | 40,346 | ||||||
GNI Group, Ltd. (a)(b) | 4,000 | 12,895 | ||||||
Japan Tissue Engineering Co., Ltd. (b) | 800 | 11,963 | ||||||
NanoCarrier Co., Ltd. (a)(b) | 700 | 9,577 | ||||||
OncoTherapy Science, Inc. (b) | 7,200 | 11,675 | ||||||
Takara Bio, Inc. (a) | 800 | 10,860 | ||||||
97,316 | ||||||||
BUILDING PRODUCTS — 1.2% | ||||||||
Aica Kogyo Co., Ltd. (a) | 1,584 | 35,360 | ||||||
Asahi Glass Co., Ltd. | 45,299 | 263,036 | ||||||
Daikin Industries, Ltd. | 10,532 | 591,310 | ||||||
LIXIL Group Corp. | 13,472 | 372,300 | ||||||
Nippon Sheet Glass Co., Ltd. (a)(b) | 45,000 | 64,233 | ||||||
TOTO, Ltd. (a) | 20,444 | 284,074 | ||||||
1,610,313 | ||||||||
CAPITAL MARKETS — 1.7% | ||||||||
Daiwa Securities Group, Inc. | 60,482 | 527,386 | ||||||
Jafco Co., Ltd. (a)(b) | 1,512 | 67,976 | ||||||
Nomura Holdings, Inc. | 162,876 | 1,046,987 | ||||||
Okasan Securities Group, Inc. (a) | 15,107 | 127,475 | ||||||
SBI Holdings, Inc. | 11,958 | 144,446 | ||||||
Tokai Tokyo Financial Holdings, Inc. (a) | 29,967 | 251,992 | ||||||
2,166,262 | ||||||||
CHEMICALS — 3.9% | ||||||||
Asahi Kasei Corp. | 44,859 | 305,783 | ||||||
C. Uyemura & Co., Ltd. | 300 | 14,857 | ||||||
Daicel Chemical Industries, Ltd. | 15,055 | 123,674 | ||||||
DIC Corp. | 45,391 | 119,444 | ||||||
Hitachi Chemical Co., Ltd. | 7,476 | 101,993 | ||||||
Ishihara Sangyo Kaisha, Ltd. (b) | 10,000 | 9,225 | ||||||
JSR Corp. (a) | 10,460 | 194,300 | ||||||
Kaneka Corp. | 15,224 | 92,540 | ||||||
Kansai Paint Co., Ltd. (a) | 15,092 | 216,155 | ||||||
Kuraray Co., Ltd. | 22,471 | 257,472 |
See accompanying notes to financial statements.
211
SPDR Russell/Nomura PRIME Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Mitsubishi Chemical Holdings Corp. | 45,123 | $ | 187,967 | |||||
Mitsubishi Gas Chemical Co., Inc. | 15,268 | 86,284 | ||||||
Mitsui Chemicals, Inc. (a) | 44,843 | 110,164 | ||||||
Nihon Nohyaku Co., Ltd. | 1,000 | 15,099 | ||||||
Nissan Chemical Industries, Ltd. | 21,016 | 316,102 | ||||||
Nitto Denko Corp. | 5,984 | 287,158 | ||||||
Shin-Etsu Chemical Co., Ltd. | 18,020 | 1,032,014 | ||||||
Showa Denko K.K. (a) | 59,723 | 84,668 | ||||||
Sumitomo Chemical Co., Ltd. | 74,674 | 276,261 | ||||||
Taiyo Nippon Sanso Corp. (a) | 27,180 | 214,305 | ||||||
Teijin, Ltd. | 45,367 | 112,773 | ||||||
Tokai Carbon Co., Ltd. | 14,828 | 50,394 | ||||||
Toray Industries, Inc. (a) | 59,758 | 395,737 | ||||||
Tosoh Corp. | 44,599 | 172,359 | ||||||
Toyobo Co., Ltd. (a) | 60,302 | 94,858 | ||||||
Ube Industries, Ltd. | 74,543 | 137,526 | ||||||
Zeon Corp. | 15,132 | 137,236 | ||||||
5,146,348 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 1.1% | ||||||||
Aeon Delight Co., Ltd. | 1,500 | 28,300 | ||||||
Dai Nippon Printing Co., Ltd. | 29,739 | 285,594 | ||||||
Daiseki Co., Ltd. | 3,000 | 51,852 | ||||||
Nissha Printing Co., Ltd. (a)(b) | 1,536 | 20,269 | ||||||
Park24 Co., Ltd. | 7,500 | 142,885 | ||||||
Sanix, Inc. (a)(b) | 3,400 | 37,009 | ||||||
Secom Co., Ltd. | 10,468 | 604,387 | ||||||
Toppan Printing Co., Ltd. (a) | 30,299 | 217,420 | ||||||
1,387,716 | ||||||||
COMMUNICATIONS EQUIPMENT — 0.0% (c) | ||||||||
Denki Kogyo Co., Ltd. | 2,000 | 12,177 | ||||||
CONSTRUCTION & ENGINEERING — 1.6% | ||||||||
Chiyoda Corp. (a) | 13,688 | 176,907 | ||||||
COMSYS Holdings Corp. | 15,000 | 235,665 | ||||||
JGC Corp. | 14,760 | 514,525 | ||||||
Kajima Corp. (a) | 59,595 | 209,481 | ||||||
Kumagai Gumi Co., Ltd. (a)(b) | 6,000 | 14,857 | ||||||
Maeda Corp. | 20,855 | 131,628 | ||||||
Nishimatsu Construction Co., Ltd. (a) | 3,000 | 9,730 | ||||||
Obayashi Corp. | 44,679 | 252,495 | ||||||
Raito Kogyo Co., Ltd. | 1,300 | 10,894 | ||||||
Shimizu Corp. (a) | 44,559 | 231,481 | ||||||
Taisei Corp. (a) | 67,995 | 304,371 | ||||||
Tokyu Construction Co., Ltd. (a) | 2,600 | 11,033 | ||||||
2,103,067 | ||||||||
CONSTRUCTION MATERIALS — 0.2% | ||||||||
Taiheiyo Cement Corp. (a) | 74,607 | 269,494 | ||||||
CONSUMER FINANCE — 0.4% | ||||||||
Acom Co., Ltd. (a)(b) | 1,500 | 4,807 | ||||||
Aeon Credit Service Co., Ltd. (a) | 7,540 | 170,370 | ||||||
Credit Saison Co., Ltd. | 10,464 | 208,599 | ||||||
J Trust Co., Ltd. | 1,900 | 24,058 | ||||||
Orient Corp. (a)(b) | 30,001 | 60,593 | ||||||
468,427 | ||||||||
CONTAINERS & PACKAGING — 0.1% | ||||||||
Toyo Seikan Group Holdings, Ltd. | 7,548 | 122,838 | ||||||
DISTRIBUTORS — 0.1% | ||||||||
Canon Marketing Japan, Inc. | 7,492 | 103,084 | ||||||
Jin Co., Ltd. (a) | 500 | 14,978 | ||||||
118,062 | ||||||||
DIVERSIFIED CONSUMER SERVICES — 0.1% | ||||||||
Benesse Holdings, Inc. | 4,528 | 173,452 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 0.7% | ||||||||
Japan Exchange Group, Inc. (a) | 2,700 | 66,015 | ||||||
ORIX Corp. (b) | 57,100 | 805,615 | ||||||
Zenkoku Hosho Co., Ltd. (a) | 2,000 | 52,882 | ||||||
924,512 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.5% | ||||||||
Nippon Telegraph & Telephone Corp. | 36,400 | 1,986,033 | ||||||
ELECTRIC UTILITIES — 1.5% | ||||||||
Chubu Electric Power Co., Inc. (b) | 29,963 | 353,498 | ||||||
Hokkaido Electric Power Co., Inc. (a)(b) | 7,428 | 62,895 | ||||||
Hokuriku Electric Power Co. | 10,512 | 136,676 | ||||||
Kyushu Electric Power Co., Inc. (b) | 17,976 | 220,282 | ||||||
Shikoku Electric Power Co., Inc. (b) | 7,472 | 101,576 | ||||||
The Chugoku Electric Power Co., Inc. | 12,048 | 168,345 | ||||||
The Kansai Electric Power Co., Inc. (b) | 36,011 | 370,303 | ||||||
The Okinawa Electric Power Co., Inc. | 36 | 1,222 | ||||||
The Tokyo Electric Power Co., Inc. (b) | 64,567 | 260,813 | ||||||
Tohoku Electric Power Co., Inc. | 21,043 | 217,408 | ||||||
1,893,018 | ||||||||
ELECTRICAL EQUIPMENT — 2.0% | ||||||||
Fuji Electric Holdings Co., Ltd. | 45,099 | 201,880 | ||||||
Fujikura, Ltd. | 30,107 | 137,986 | ||||||
Furukawa Electric Co., Ltd. (a) | 29,899 | 74,613 | ||||||
GS Yuasa Corp. (a) | 2,000 | 10,623 | ||||||
Mitsubishi Electric Corp. | 89,974 | 1,015,194 | ||||||
Nidec Corp. (a) | 10,928 | 666,281 | ||||||
Sumitomo Electric Industries, Ltd. | 28,487 | 424,878 | ||||||
Tatsuta Electric Wire and Cable Co., Ltd. (a) | 9,200 | 47,704 | ||||||
Ushio, Inc. | 7,536 | 97,470 | ||||||
2,676,629 | ||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 5.9% | ||||||||
Alps Electric Co., Ltd. (b) | 11,968 | 143,056 | ||||||
Amano Corp. | 9,036 | 93,532 | ||||||
Anritsu Corp. | 1,300 | 14,958 | ||||||
Citizen Holdings Co., Ltd. | 20,303 | 153,182 | ||||||
FUJIFILM Holdings Corp. | 21,027 | 565,770 | ||||||
Hamamatsu Photonics K.K. | 5,968 | 269,468 | ||||||
Hirose Electric Co., Ltd. | 2,608 | 359,095 | ||||||
Hitachi, Ltd. | 194,933 | 1,442,336 | ||||||
Horiba, Ltd. | 3,004 | 113,469 | ||||||
Hoya Corp. | 19,532 | 609,373 | ||||||
Ibiden Co., Ltd. | 7,496 | 148,049 | ||||||
Iriso Electronics Co., Ltd. | 300 | 16,226 | ||||||
Japan Aviation Electronics Industry, Ltd. | 1,000 | 14,973 | ||||||
Keyence Corp. | 1,640 | 677,912 |
See accompanying notes to financial statements.
212
SPDR Russell/Nomura PRIME Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Kyocera Corp. | 14,900 | $ | 673,202 | |||||
Murata Manufacturing Co., Ltd. | 9,028 | 853,402 | ||||||
Nippon Electric Glass Co., Ltd. (a) | 29,548 | 152,352 | ||||||
Oki Electric Industry Co., Ltd. (a) | 69,166 | 148,426 | ||||||
Omron Corp. | 10,480 | 433,508 | ||||||
Shimadzu Corp. | 15,312 | 136,341 | ||||||
TDK Corp. | 7,196 | 301,158 | ||||||
Yaskawa Electric Corp. (a) | 14,604 | 202,359 | ||||||
Yokogawa Electric Corp. | 14,964 | 242,220 | ||||||
7,764,367 | ||||||||
FOOD & STAPLES RETAILING — 1.8% | ||||||||
Aeon Co., Ltd. | 33,003 | 372,700 | ||||||
Cawachi, Ltd. | 3,048 | 58,068 | ||||||
Cosmos Pharmaceutical Corp. | 200 | 23,421 | ||||||
FamilyMart Co., Ltd. (a) | 2,952 | 129,993 | ||||||
Izumiya Co., Ltd. | 29,740 | 149,588 | ||||||
Lawson, Inc. (a) | 3,000 | 212,652 | ||||||
Seven & I Holdings Co., Ltd. | 33,039 | 1,265,289 | ||||||
UNY Group Holdings Co., Ltd. | 15,000 | 89,431 | ||||||
2,301,142 | ||||||||
FOOD PRODUCTS — 1.2% | ||||||||
Ajinomoto Co., Inc. | 30,003 | 429,717 | ||||||
Hokuto Corp. (a) | 3,000 | 62,543 | ||||||
Kikkoman Corp. (a) | 15,256 | 288,425 | ||||||
MEIJI Holdings Co., Ltd. (a) | 3,000 | 189,639 | ||||||
Nissin Foods Holding Co., Ltd. | 4,540 | 205,212 | ||||||
Sakata Seed Corp. | 11,984 | 165,240 | ||||||
Yakult Honsha Co., Ltd. (a) | 4,464 | 224,533 | ||||||
1,565,309 | ||||||||
GAS UTILITIES — 0.8% | ||||||||
Osaka Gas Co., Ltd. | 90,150 | 342,270 | ||||||
Saibu Gas Co., Ltd. | 75,273 | 190,768 | ||||||
Tokyo Gas Co., Ltd. | 104,873 | 533,606 | ||||||
1,066,644 | ||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.8% | ||||||||
Asahi Intecc Co., Ltd. (a) | 800 | 32,238 | ||||||
Nakanishi, Inc. | 7,000 | 223,965 | ||||||
Nikkiso Co., Ltd. | 900 | 10,015 | ||||||
Olympus Corp. (b) | 7,542 | 240,940 | ||||||
Sysmex Corp. | 6,000 | 191,678 | ||||||
Terumo Corp. | 14,912 | 326,229 | ||||||
1,025,065 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 0.5% | ||||||||
As One Corp. | 600 | 16,406 | ||||||
BML, Inc. | 300 | 11,288 | ||||||
Medipal Holdings Corp. | 8,992 | 137,781 | ||||||
Message Co., Ltd. | 600 | 19,168 | ||||||
Miraca Holdings, Inc. | 4,536 | 199,084 | ||||||
Nichii Gakkan Co. | 1,500 | 13,968 | ||||||
Suzuken Co., Ltd. | 4,532 | 175,806 | ||||||
Tsukui Corp. (a) | 5,300 | 51,773 | ||||||
625,274 | ||||||||
HEALTH CARE TECHNOLOGY — 0.0% (c) | ||||||||
M3, Inc. | 2,800 | 46,057 | ||||||
Medinet Co., Ltd. (a)(b) | 3,500 | 9,414 | ||||||
55,471 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 0.4% | ||||||||
Oriental Land Co., Ltd. (a) | 3,004 | 457,958 | ||||||
Round One Corp. | 6,000 | 51,503 | ||||||
509,461 | ||||||||
HOUSEHOLD DURABLES — 2.5% | ||||||||
Casio Computer Co., Ltd. | 16,548 | 196,195 | ||||||
Fujitsu General, Ltd. | 1,000 | 9,671 | ||||||
Funai Electric Co., Ltd. (a)(b) | 2,995 | 29,722 | ||||||
Haseko Corp. | 13,500 | 84,682 | ||||||
Iida Group Holdings Co., Ltd. | 1,000 | 13,876 | ||||||
Panasonic Corp. | 96,981 | 1,104,614 | ||||||
Pioneer Corp. (a)(b) | 17,960 | 38,541 | ||||||
Sangetsu Co., Ltd. | 1,476 | 38,826 | ||||||
Sekisui Chemical Co., Ltd. | 15,079 | 157,108 | ||||||
Sekisui House, Ltd. | 29,679 | 369,168 | ||||||
Sharp Corp. (a)(b) | 44,519 | 135,738 | ||||||
Sony Corp. (a) | 51,011 | 976,780 | ||||||
Sumitomo Forestry Co., Ltd. | 10,468 | 105,407 | ||||||
3,260,328 | ||||||||
HOUSEHOLD PRODUCTS — 0.2% | ||||||||
Unicharm Corp. (a) | 4,532 | 242,607 | ||||||
INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS — 0.1% | ||||||||
Electric Power Development Co., Ltd. | 6,040 | 170,963 | ||||||
INDUSTRIAL CONGLOMERATES — 0.8% | ||||||||
Keihan Electric Railway Co., Ltd. (a) | 44,747 | 179,014 | ||||||
Nisshinbo Holdings, Inc. | 14,584 | 124,903 | ||||||
Toshiba Corp. | 179,633 | 762,243 | ||||||
1,066,160 | ||||||||
INSURANCE — 2.2% | ||||||||
MS&AD Insurance Group Holdings, Inc. | 24,836 | 570,105 | ||||||
NKSJ Holdings, Inc. | 15,000 | 386,270 | ||||||
Sony Financial Holdings, Inc. | 12,000 | 196,922 | ||||||
T&D Holdings, Inc. | 31,500 | 375,302 | ||||||
The Dai-ichi Life Insurance Co., Ltd. | 31,500 | 458,805 | ||||||
Tokio Marine Holdings, Inc. | 30,747 | 924,933 | ||||||
2,912,337 | ||||||||
INTERNET & CATALOG RETAIL — 0.4% | ||||||||
ASKUL Corp. (a) | 800 | 25,247 | ||||||
Rakuten, Inc. (a) | 36,800 | 492,048 | ||||||
Start Today Co., Ltd. (a) | 1,000 | 25,664 | ||||||
542,959 | ||||||||
INTERNET SOFTWARE & SERVICES — 0.6% | ||||||||
Access Co., Ltd. (a)(b) | 5,500 | 33,219 | ||||||
DeNA Co., Ltd. (a) | 6,000 | 108,598 | ||||||
F@N Communications, Inc. | 1,800 | 32,247 | ||||||
Gree, Inc. (a) | 4,500 | 49,813 | ||||||
Gurunavi, Inc. | 1,800 | 25,344 | ||||||
Internet Initiative Japan, Inc. (a) | 4,500 | 108,846 | ||||||
Kakaku.com, Inc. (a) | 4,000 | 65,213 | ||||||
Macromill, Inc. (a) | 2,800 | 21,261 | ||||||
UNITED, Inc. (b) | 500 | 7,443 |
See accompanying notes to financial statements.
213
SPDR Russell/Nomura PRIME Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Yahoo! Japan Corp. | 78,200 | $ | 384,223 | |||||
836,207 | ||||||||
IT SERVICES — 0.9% | ||||||||
Digital Garage, Inc. (a) | 1,600 | 27,313 | ||||||
Fujitsu, Ltd. | 75,498 | 457,453 | ||||||
GMO Payment Gateway, Inc. | 600 | 25,577 | ||||||
IT Holdings Corp. | 6,032 | 99,220 | ||||||
Itochu Techno-Solutions Corp. (a) | 4,008 | 169,489 | ||||||
NET One Systems Co., Ltd. (a) | 15,000 | 102,102 | ||||||
Nihon Unisys, Ltd. | 1,000 | 9,798 | ||||||
Nomura Research Institute, Ltd. | 300 | 9,496 | ||||||
NTT Data Corp. | 6,000 | 233,918 | ||||||
Otsuka Corp. | 12 | 1,571 | ||||||
SCSK Corp. | 1,400 | 37,805 | ||||||
TKC Corp. | 3,000 | 59,717 | ||||||
1,233,459 | ||||||||
LEISURE PRODUCTS — 1.2% | ||||||||
Namco Bandai Holdings, Inc. | 13,332 | 316,261 | ||||||
Nikon Corp. (a) | 13,540 | 218,512 | ||||||
Roland Corp. | 1,500 | 20,814 | ||||||
Sankyo Co., Ltd. | 4,540 | 191,545 | ||||||
Sega Sammy Holdings, Inc. | 13,231 | 297,034 | ||||||
Shimano, Inc. | 4,492 | 452,319 | ||||||
Yamaha Corp. | 8,992 | 116,040 | ||||||
1,612,525 | ||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.0% (c) | ||||||||
EPS Corp. | 1,000 | 10,924 | ||||||
MACHINERY — 5.9% | ||||||||
Amada Co., Ltd. | 14,527 | 102,409 | ||||||
DMG Mori Seiki Co., Ltd. | 7,468 | 94,633 | ||||||
FANUC Corp. | 8,980 | 1,587,424 | ||||||
Glory, Ltd. | 7,544 | 207,234 | ||||||
IHI Corp. | 75,311 | 317,376 | ||||||
JTEKT Corp. | 10,508 | 156,521 | ||||||
Kawasaki Heavy Industries, Ltd. | 59,978 | 221,310 | ||||||
Komatsu, Ltd. | 40,539 | 841,602 | ||||||
Komori Corp. (a) | 5,988 | 74,890 | ||||||
Kubota Corp. | 29,663 | 393,740 | ||||||
Kurita Water Industries, Ltd. (a) | 7,476 | 162,536 | ||||||
Makita Corp. | 6,076 | 334,524 | ||||||
Minebea Co., Ltd. | 15,255 | 135,982 | ||||||
Mitsubishi Heavy Industries, Ltd. | 139,676 | 809,696 | ||||||
Mitsui Engineering & Shipbuilding Co., Ltd. | 59,567 | 126,092 | ||||||
NGK Insulators, Ltd. | 15,320 | 319,833 | ||||||
Nihon Trim Co., Ltd. | 200 | 11,827 | ||||||
NSK, Ltd. | 15,463 | 159,457 | ||||||
NTN Corp. (b) | 15,495 | 52,811 | ||||||
Obara Group, Inc. | 600 | 22,518 | ||||||
OKUMA Corp. (a) | 14,648 | 118,623 | ||||||
OSG Corp. | 7,512 | 130,567 | ||||||
SMC Corp. | 3,020 | 798,364 | ||||||
Sodick Co., Ltd. | 13,500 | 50,862 | ||||||
Sumitomo Heavy Industries, Ltd. | 29,795 | 121,223 | ||||||
Takuma Co., Ltd. | 15,000 | 107,491 | ||||||
The Japan Steel Works, Ltd. (a) | 14,708 | 66,124 | ||||||
THK Co., Ltd. | 7,500 | 168,738 | ||||||
Tocalo Co., Ltd. | 700 | 11,107 | ||||||
Toshiba Machine Co., Ltd. | 14,944 | 70,813 | ||||||
7,776,327 | ||||||||
MARINE — 0.3% | ||||||||
Kawasaki Kisen Kaisha, Ltd. | 44,759 | 96,920 | ||||||
Mitsui OSK Lines, Ltd. | 30,491 | 119,021 | ||||||
Nippon Yusen K.K. (a) | 59,995 | 174,768 | ||||||
390,709 | ||||||||
MEDIA — 0.7% | ||||||||
Adways, Inc. (b) | 800 | 12,142 | ||||||
Avex Group Holdings, Inc. | 1,100 | 19,365 | ||||||
COOKPAD, Inc. (a) | 1,100 | 26,265 | ||||||
CyberAgent, Inc. | 3,000 | 115,065 | ||||||
Daiichikosho Co., Ltd. | 700 | 21,241 | ||||||
Dentsu, Inc. | 12,000 | 456,183 | ||||||
Kadokawa Corp. (a) | 700 | 22,464 | ||||||
Toho Co., Ltd. | 10,452 | 209,984 | ||||||
Usen Corp. (b) | 6,470 | 20,355 | ||||||
Zenrin Co., Ltd. (a) | 1,100 | 11,130 | ||||||
914,194 | ||||||||
METALS & MINING — 2.0% | ||||||||
Daido Steel Co., Ltd. (a) | 15,199 | 76,154 | ||||||
Dowa Holdings Co., Ltd. (a) | 14,767 | 123,602 | ||||||
JFE Holdings, Inc. | 21,047 | 397,090 | ||||||
Kobe Steel, Ltd. | 90,645 | 120,584 | ||||||
Mitsubishi Materials Corp. | 60,027 | 170,781 | ||||||
Mitsubishi Steel Manufacturing Co., Ltd. | 30,000 | 64,378 | ||||||
Mitsui Mining & Smelting Co., Ltd. | 44,839 | 103,624 | ||||||
Nippon Steel Corp. | 283,755 | 776,996 | ||||||
Nippon Yakin Kogyo Co., Ltd. (a)(b) | 4,000 | 12,856 | ||||||
Nisshin Steel Holdings Co., Ltd. | 4,400 | 37,726 | ||||||
Sumitomo Metal Mining Co., Ltd. | 29,575 | 372,182 | ||||||
Toho Zinc Co., Ltd. (a) | 30,000 | 91,178 | ||||||
Tokyo Steel Manufacturing Co., Ltd. | 1,444 | 7,768 | ||||||
Topy Industries, Ltd. | 44,000 | 77,759 | ||||||
Yodogawa Steel Works, Ltd. | 29,963 | 124,234 | ||||||
2,556,912 | ||||||||
MULTILINE RETAIL — 0.7% | ||||||||
Isetan Mitsukoshi Holdings, Ltd. | 18,041 | 223,180 | ||||||
J Front Retailing Co., Ltd. | 29,778 | 205,296 | ||||||
Marui Group Co., Ltd. | 19,516 | 167,710 | ||||||
Ryohin Keikaku Co., Ltd. | 1,536 | 148,253 | ||||||
Seria Co., Ltd. | 400 | 14,857 | ||||||
Takashimaya Co., Ltd. (a) | 15,332 | 144,112 | ||||||
903,408 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 0.8% | ||||||||
Cosmo Oil Co., Ltd. (a) | 44,927 | 81,578 | ||||||
Inpex Corp. | 24,000 | 312,046 | ||||||
JX Holdings, Inc. | 109,500 | 528,441 | ||||||
Nippon Coke & Engineering Co., Ltd. | 8,400 | 10,114 | ||||||
TonenGeneral Sekiyu K.K. | 14,547 | 128,682 | ||||||
1,060,861 | ||||||||
PAPER & FOREST PRODUCTS — 0.2% | ||||||||
Nippon Paper Industries Co., Ltd. (a) | 3,000 | 56,659 |
See accompanying notes to financial statements.
214
SPDR Russell/Nomura PRIME Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
OJI Paper Co., Ltd. | 44,839 | $ | 201,152 | |||||
257,811 | ||||||||
PERSONAL PRODUCTS — 1.0% | ||||||||
Euglena Co., Ltd. (a)(b) | 2,000 | 19,731 | ||||||
Kao Corp. | 24,039 | 853,626 | ||||||
Mandom Corp. | 6,416 | 232,380 | ||||||
Shiseido Co., Ltd. (a) | 13,532 | 238,618 | ||||||
1,344,355 | ||||||||
PHARMACEUTICALS — 5.3% | ||||||||
Astellas Pharma, Inc. | 104,855 | 1,246,225 | ||||||
Chugai Pharmaceutical Co., Ltd. | 12,016 | 307,444 | ||||||
Daiichi Sankyo Co., Ltd. | 30,051 | 507,148 | ||||||
Dainippon Sumitomo Pharma Co., Ltd. | 7,460 | 118,798 | ||||||
Eisai Co., Ltd. (a) | 11,940 | 465,844 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 3,004 | 136,075 | ||||||
Kissei Pharmaceutical Co., Ltd. | 7,500 | 186,508 | ||||||
Kyowa Hakko Kirin Co., Ltd. (a) | 14,833 | 158,434 | ||||||
Mitsubishi Tanabe Pharma Corp. | 15,000 | 210,176 | ||||||
Mochida Pharmaceutical Co., Ltd. | 3,000 | 215,274 | ||||||
Nichi-iko Pharmaceutical Co., Ltd. | 1,500 | 23,159 | ||||||
Ono Pharmaceutical Co., Ltd. (a) | 3,032 | 263,204 | ||||||
Otsuka Holdings Co., Ltd. | 11,900 | 356,705 | ||||||
Santen Pharmaceutical Co., Ltd. | 7,456 | 331,587 | ||||||
Sawai Pharmaceutical Co., Ltd. | 600 | 36,879 | ||||||
Seikagaku Corp. | 6,000 | 80,225 | ||||||
Shionogi & Co., Ltd. | 14,996 | 278,559 | ||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 2,900 | 234,005 | ||||||
Takeda Pharmaceutical Co., Ltd. | 34,755 | 1,650,934 | ||||||
Torii Pharmaceutical Co., Ltd. | 1,500 | 48,794 | ||||||
Towa Pharmaceutical Co., Ltd. (a) | 200 | 8,652 | ||||||
Tsumura & Co. | 100 | 2,408 | ||||||
ZERIA Pharmaceutical Co., Ltd. | 1,000 | 20,352 | ||||||
6,887,389 | ||||||||
PROFESSIONAL SERVICES — 0.2% | ||||||||
Meitic Corp. (a) | 6,012 | 171,046 | ||||||
Nihon M&A Center, Inc. | 1,800 | 48,310 | ||||||
219,356 | ||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 3.6% | ||||||||
Daikyo, Inc. (a) | 30,256 | 60,815 | ||||||
Daito Trust Construction Co., Ltd. | 4,464 | 413,999 | ||||||
Daiwa House Industry Co., Ltd. | 30,363 | 516,246 | ||||||
Heiwa Real Estate Co., Ltd. | 7,400 | 118,417 | ||||||
Hulic Co., Ltd. | 2,000 | 27,460 | ||||||
Leopalace21 Corp. (b) | 7,544 | 36,260 | ||||||
Mitsubishi Estate Co., Ltd. | 52,111 | 1,237,690 | ||||||
Mitsui Fudosan Co., Ltd. | 39,923 | 1,220,736 | ||||||
Sumitomo Realty & Development Co., Ltd. | 14,843 | 582,564 | ||||||
Tokyo Tatemono Co., Ltd. (a) | 29,540 | 253,852 | ||||||
Tokyu Fudosan Holdings Corp. | 34,700 | 259,446 | ||||||
4,727,485 | ||||||||
ROAD & RAIL — 3.9% | ||||||||
Central Japan Railway Co. (a) | 7,500 | 878,283 | ||||||
East Japan Railway Co. | 16,500 | 1,218,614 | ||||||
Hankyu Hanshin Holdings, Inc. | 60,486 | 330,079 | ||||||
Keikyu Corp. (a) | 30,355 | 256,434 | ||||||
Keisei Electric Railway Co., Ltd. | 15,147 | 131,636 | ||||||
Kintetsu Corp. (a) | 90,038 | 320,862 | ||||||
Nagoya Railroad Co., Ltd. | 60,362 | 181,699 | ||||||
Nankai Electric Railway Co., Ltd. (a) | 45,111 | 175,214 | ||||||
Nippon Express Co., Ltd. | 59,555 | 292,036 | ||||||
Odakyu Electric Railway Co., Ltd. (a) | 15,483 | 133,654 | ||||||
Sotetsu Holdings, Inc. | 60,254 | 221,159 | ||||||
Tobu Railway Co., Ltd. | 45,007 | 218,075 | ||||||
Tokyu Corp. | 45,391 | 278,115 | ||||||
West Japan Railway Co. | 10,500 | 429,645 | ||||||
5,065,505 | ||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.9% | ||||||||
Advantest Corp. (a) | 9,016 | 97,790 | ||||||
Dainippon Screen Manufacturing Co., Ltd. | 364 | 1,686 | ||||||
Disco Corp. (a) | 2,684 | 167,318 | ||||||
Rohm Co., Ltd. | 4,476 | 200,146 | ||||||
Sanken Electric Co., Ltd. (a) | 15,404 | 109,190 | ||||||
Shinko Electric Industries Co., Ltd. (a) | 4,492 | 32,495 | ||||||
Sumco Corp. (a) | 7,546 | 58,398 | ||||||
Tokyo Electron, Ltd. | 7,540 | 463,082 | ||||||
Ulvac, Inc. (b) | 1,000 | 20,479 | ||||||
1,150,584 | ||||||||
SOFTWARE — 0.8% | ||||||||
Broadleaf Co., Ltd. | 1,000 | 15,653 | ||||||
COLOPL, Inc. (a)(b) | 1,000 | 26,334 | ||||||
Dwango Co., Ltd. (a) | 600 | 20,100 | ||||||
GungHo Online Entertainment, Inc. (a) | 16,300 | 89,109 | ||||||
Konami Corp. (a) | 5,992 | 138,767 | ||||||
Nintendo Co., Ltd. | 4,548 | 541,423 | ||||||
NSD Co., Ltd. | 6,032 | 75,733 | ||||||
Square Enix Holdings Co., Ltd. (a) | 5,196 | 107,215 | ||||||
Trend Micro, Inc. | 2,968 | 92,079 | ||||||
1,106,413 | ||||||||
SPECIALTY RETAIL — 1.5% | ||||||||
Aoyama Trading Co., Ltd. | 7,484 | 196,938 | ||||||
Arcland Sakamoto Co., Ltd. | 800 | 15,264 | ||||||
Asahi Co., Ltd. | 1,400 | 18,991 | ||||||
Autobacs Seven Co., Ltd. | 4,380 | 67,624 | ||||||
Fast Retailing Co., Ltd. (a) | 1,476 | 536,525 | ||||||
Gulliver International Co., Ltd. | 5,700 | 44,334 | ||||||
Hikari Tsushin, Inc. | 1,484 | 125,510 | ||||||
K’s Holdings Corp. | 400 | 11,143 | ||||||
Nitori Holding Co., Ltd. | 3,000 | 130,359 | ||||||
Sanrio Co., Ltd. (a) | 3,048 | 102,996 | ||||||
Shimachu Co., Ltd. | 7,484 | 163,509 | ||||||
Shimamura Co., Ltd. | 1,532 | 132,842 | ||||||
United Arrows, Ltd. | 700 | 25,965 | ||||||
USS Co., Ltd. | 15,000 | 211,050 | ||||||
VT Holdings Co., Ltd. | 3,300 | 18,233 | ||||||
Yamada Denki Co., Ltd. (a) | 45,000 | 150,313 | ||||||
1,951,596 | ||||||||
TECHNOLOGY HARDWARE & EQUIPMENT — 0.0% (c) | ||||||||
Roland DG Corp. | 400 | 15,866 | ||||||
See accompanying notes to financial statements.
215
SPDR Russell/Nomura PRIME Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.2% | ||||||||
Brother Industries, Ltd. | 13,532 | $ | 189,607 | |||||
Canon, Inc. | 49,458 | 1,532,461 | ||||||
Eizo Nanao Corp. | 700 | 18,338 | ||||||
Konica Minolta Holdings, Inc. | 30,075 | 281,228 | ||||||
NEC Corp. | 90,918 | 279,856 | ||||||
Ricoh Co., Ltd. | 29,555 | 341,510 | ||||||
Seiko Epson Corp. | 7,576 | 236,141 | ||||||
Wacom Co., Ltd. (a) | 2,600 | 18,304 | ||||||
2,897,445 | ||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.5% | ||||||||
Asics Corp. | 15,064 | 296,789 | ||||||
Gunze, Ltd. | 30,223 | 80,411 | ||||||
Onward Holdings Co., Ltd. | 14,580 | 101,225 | ||||||
The Japan Wool Textile Co., Ltd. | 15,031 | 116,763 | ||||||
595,188 | ||||||||
TOBACCO — 1.1% | ||||||||
Japan Tobacco, Inc. | 45,000 | 1,415,740 | ||||||
TRADING COMPANIES & DISTRIBUTORS — 3.9% | ||||||||
Hanwa Co., Ltd. | 15,207 | 59,065 | ||||||
Inaba Denki Sangyo Co., Ltd. | 7,456 | 240,364 | ||||||
ITOCHU Corp. | 64,566 | 756,097 | ||||||
Iwatani Corp. | 21,451 | 140,389 | ||||||
Kanamoto Co., Ltd. | 600 | 17,595 | ||||||
Kanematsu Corp. | 66,000 | 102,539 | ||||||
Marubeni Corp. (a) | 75,402 | 507,390 | ||||||
Mitsubishi Corp. | 57,007 | 1,060,595 | ||||||
Mitsui & Co., Ltd. | 75,202 | 1,065,395 | ||||||
MonotaRO Co., Ltd. (a) | 1,100 | 28,006 | ||||||
Nishio Rent All Co., Ltd. | 400 | 14,876 | ||||||
Sojitz Corp. | 64,428 | 110,107 | ||||||
Sumitomo Corp. (a) | 47,975 | 611,654 | ||||||
Toyota Tsusho Corp. | 7,539 | 191,797 | ||||||
Yamazen Corp. | 21,000 | 138,865 | ||||||
5,044,734 | ||||||||
TRANSPORTATION INFRASTRUCTURE — 0.2% | ||||||||
Kamigumi Co., Ltd. | 15,395 | 149,936 | ||||||
Mitsubishi Logistics Corp. | 12,216 | 170,338 | ||||||
320,274 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 4.0% | ||||||||
KDDI Corp. | 25,400 | 1,473,908 | ||||||
NTT DoCoMo, Inc. | 65,400 | 1,033,851 | ||||||
Softbank Corp. | 35,515 | 2,689,877 | ||||||
5,197,636 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $136,472,912) | 129,745,079 | |||||||
SHORT TERM INVESTMENTS — 10.9% | ||||||||
UNITED STATES — 10.9% | ||||||||
MONEY MARKET FUNDS — 10.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 14,293,744 | 14,293,744 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 9,869 | 9,869 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $14,303,613) | 14,303,613 | |||||||
TOTAL INVESTMENTS — 110.1% (g) | ||||||||
(Cost $150,776,525) | 144,048,692 | |||||||
OTHER ASSETS & LIABILITIES — (10.1)% | (13,180,795 | ) | ||||||
NET ASSETS — 100.0% | $ | 130,867,897 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs (Note 2). |
See accompanying notes to financial statements.
216
SPDR Russell/Nomura Small Cap Japan ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 98.9% | ||||||||
JAPAN — 98.9% | ||||||||
AIR FREIGHT & LOGISTICS — 0.4% | ||||||||
Kintetsu World Express, Inc. | 6,500 | $ | 289,387 | |||||
AIRLINES — 0.0% (a) | ||||||||
Skymark Airlines, Inc. (b) | 7,700 | 21,757 | ||||||
AUTO COMPONENTS — 5.3% | ||||||||
Ahresty Corp. (c) | 7,100 | 59,290 | ||||||
Calsonic Kansei Corp. | 7,000 | 32,558 | ||||||
Exedy Corp. | 4,700 | 131,802 | ||||||
FCC Co., Ltd. | 9,113 | 162,554 | ||||||
Futaba Industrial Co., Ltd. (b)(c) | 12,794 | 55,904 | ||||||
Keihin Corp. | 9,341 | 136,417 | ||||||
Koito Manufacturing Co., Ltd. | 16,000 | 271,418 | ||||||
KYB Co., Ltd. | 25,902 | 109,659 | ||||||
Mitsuba Corp. | 1,600 | 26,318 | ||||||
Musashi Seimitsu Industry Co., Ltd. (c) | 11,652 | 240,428 | ||||||
NHK Spring Co., Ltd. | 6,700 | 62,261 | ||||||
Nifco, Inc. (c) | 10,300 | 291,642 | ||||||
Nissan Shatai Co., Ltd. | 22,600 | 379,428 | ||||||
Nissin Kogyo Co., Ltd. | 11,034 | 206,248 | ||||||
Press Kogyo Co., Ltd. | 24,569 | 89,225 | ||||||
Showa Corp. | 14,639 | 161,195 | ||||||
Takata Corp. | 12,500 | 314,852 | ||||||
Tokai Rika Co., Ltd. | 9,500 | 159,955 | ||||||
Topre Corp. | 13,434 | 144,013 | ||||||
Toyo Tire & Rubber Co., Ltd. | 41,372 | 293,663 | ||||||
Toyota Boshoku Corp. (c) | 8,800 | 89,124 | ||||||
TS Tech Co., Ltd. | 11,100 | 337,360 | ||||||
Unipres Corp. | 7,900 | 142,297 | ||||||
3,897,611 | ||||||||
BANKS — 7.0% | ||||||||
Bank of the Ryukyus, Ltd. | 11,681 | 155,732 | ||||||
Kansai Urban Banking Corp. | 99,000 | 118,240 | ||||||
North Pacific Bank, Ltd. | 60,200 | 244,927 | ||||||
The 77 Bank, Ltd. | 6,000 | 27,033 | ||||||
The Aichi Bank, Ltd. | 5,149 | 265,987 | ||||||
The Bank of Iwate, Ltd. (c) | 5,756 | 278,620 | ||||||
The Bank of Nagoya, Ltd. | 35,000 | 136,962 | ||||||
The Bank of Okinawa, Ltd. (c) | 4,900 | 207,210 | ||||||
The Daishi Bank, Ltd. | 57,000 | 209,768 | ||||||
The Fukushima Bank, Ltd. | 246,478 | 205,827 | ||||||
The Higo Bank, Ltd. | 38,000 | 202,942 | ||||||
The Hokkoku Bank, Ltd. (c) | 37,000 | 129,698 | ||||||
The Hyakugo Bank, Ltd. | 55,000 | 226,441 | ||||||
The Hyakujushi Bank, Ltd. | 46,000 | 158,120 | ||||||
The Juroku Bank, Ltd. | 59,000 | 206,244 | ||||||
The Kagoshima Bank, Ltd. | 31,000 | 197,165 | ||||||
The Keiyo Bank, Ltd. (c) | 43,000 | 183,716 | ||||||
The Kiyo Bank, Ltd. | 19,300 | 247,751 | ||||||
The Musashino Bank, Ltd. | 11,300 | 375,259 | ||||||
The Nagano Bank, Ltd. | 85,534 | 153,651 | ||||||
The Nanto Bank, Ltd. | 43,000 | 162,422 | ||||||
The Shikoku Bank, Ltd. | 62,000 | 127,630 | ||||||
The Shimizu Bank, Ltd. | 4,900 | 127,514 | ||||||
The Taiko Bank, Ltd. (c) | 60,000 | 127,009 | ||||||
The Tochigi Bank, Ltd. (c) | 31,846 | 135,442 | ||||||
The Tokyo Tomin Bank, Ltd. (c) | 8,605 | 89,321 | ||||||
The Yachiyo Bank, Ltd. | 5,600 | 153,451 | ||||||
Tomato Bank, Ltd. | 98,872 | 172,811 | ||||||
TOMONY Holdings, Inc. | 31,705 | 132,072 | ||||||
5,158,965 | ||||||||
BEVERAGES — 1.0% | ||||||||
Coca-Cola East Japan Co., Ltd. | 18,200 | 457,717 | ||||||
Coca-Cola West Co., Ltd. | 2,500 | 43,720 | ||||||
Sapporo Holdings, Ltd. | 41,000 | 161,635 | ||||||
Takara Holdings, Inc. | 12,000 | 91,703 | ||||||
754,775 | ||||||||
BIOTECHNOLOGY — 0.5% | ||||||||
3-D Matrix, Ltd. (b)(c) | 1,500 | 60,519 | ||||||
AnGes MG, Inc. (b)(c) | 2,800 | 13,078 | ||||||
D.Western Therapeutics Institute, Inc. (b) | 1,000 | 8,292 | ||||||
GNI Group, Ltd. (b)(c) | 13,000 | 41,909 | ||||||
Japan Tissue Engineering Co., Ltd. (b) | 800 | 11,963 | ||||||
NanoCarrier Co., Ltd. (b)(c) | 3,600 | 49,254 | ||||||
OncoTherapy Science, Inc. (b)(c) | 22,600 | 36,648 | ||||||
Sosei Group Corp. (b) | 3,100 | 79,558 | ||||||
Takara Bio, Inc. (c) | 4,700 | 63,801 | ||||||
UMN Pharma, Inc. (b) | 1,000 | 20,663 | ||||||
385,685 | ||||||||
BUILDING PRODUCTS — 2.7% | ||||||||
Aica Kogyo Co., Ltd. | 16,019 | 357,602 | ||||||
Bunka Shutter Co., Ltd. | 37,577 | 230,968 | ||||||
Central Glass Co., Ltd. | 47,309 | 153,892 | ||||||
Nichias Corp. | 26,000 | 167,131 | ||||||
Nippon Sheet Glass Co., Ltd. (b) | 41,000 | 58,523 | ||||||
Nitto Boseki Co., Ltd. (b) | 54,020 | 252,829 | ||||||
Noritz Corp. | 6,965 | 130,123 | ||||||
Sankyo Tateyama, Inc. | 11,400 | 223,605 | ||||||
Sanwa Holdings Corp. | 58,910 | 382,685 | ||||||
1,957,358 | ||||||||
CAPITAL MARKETS — 2.3% | ||||||||
Ichigo Group Holdings Co., Ltd. (c) | 16,400 | 57,966 | ||||||
Jafco Co., Ltd. (b)(c) | 7,200 | 323,698 | ||||||
Matsui Securities Co., Ltd. (c) | 16,100 | 163,837 | ||||||
Monex Group, Inc. (c) | 64,600 | 251,537 | ||||||
Okasan Securities Group, Inc. (c) | 32,447 | 273,792 | ||||||
Sawada Holdings Co., Ltd. (b) | 1,700 | 14,015 | ||||||
Sparx Group Co., Ltd. (c) | 4,700 | 9,356 | ||||||
Tokai Tokyo Financial Holdings, Inc. | 55,721 | 468,557 | ||||||
Toyo Securities Co., Ltd. | 45,457 | 155,812 | ||||||
1,718,570 | ||||||||
CHEMICALS — 5.2% | ||||||||
ADEKA Corp. | 23,013 | 265,917 | ||||||
Asahi Organic Chemicals Industry Co., Ltd. | 40,540 | 91,720 | ||||||
C. Uyemura & Co., Ltd. (c) | 2,076 | 102,807 | ||||||
Fujikura Kasei Co., Ltd. | 20,038 | 124,332 | ||||||
Fujimi, Inc. (c) | 6,473 | 80,893 | ||||||
Ishihara Sangyo Kaisha, Ltd. (b) | 107,811 | 99,452 | ||||||
Japan Pure Chemical Co., Ltd. | 10,900 | 242,163 | ||||||
Kureha Corp. | 29,000 | 137,418 |
See accompanying notes to financial statements.
217
SPDR Russell/Nomura Small Cap Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Lintec Corp. | 11,708 | $ | 223,735 | |||||
Nippon Carbide Industries Co., Inc. (c) | 5,000 | 11,167 | ||||||
Nippon Soda Co., Ltd. | 31,065 | 169,223 | ||||||
Nippon Valqua Industries, Ltd. | 37,025 | 102,822 | ||||||
NOF Corp. | 43,731 | 317,202 | ||||||
Okamoto Industries, Inc. | 59,841 | 202,211 | ||||||
Sumitomo Bakelite Co., Ltd. | 38,000 | 146,487 | ||||||
Taiyo Holdings Co., Ltd. (c) | 7,300 | 216,551 | ||||||
Toagosei Co., Ltd. | 50,000 | 214,594 | ||||||
Tokai Carbon Co., Ltd. | 38,542 | 130,987 | ||||||
Tokuyama Corp. (c) | 36,000 | 118,153 | ||||||
Tokyo Ohka Kogyo Co., Ltd. | 13,300 | 294,580 | ||||||
Tosoh Corp. | 21,000 | 81,158 | ||||||
Toyo Ink Manufacturing Co., Ltd. | 42,000 | 170,064 | ||||||
Zeon Corp. (c) | 28,000 | 253,940 | ||||||
3,797,576 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 1.8% | ||||||||
Aeon Delight Co., Ltd. | 4,900 | 92,448 | ||||||
Daiseki Co., Ltd. | 15,793 | 272,967 | ||||||
Duskin Co., Ltd. | 14,100 | 270,951 | ||||||
Moshi Moshi Hotline, Inc. | 11,744 | 108,106 | ||||||
Nissha Printing Co., Ltd. (b)(c) | 9,700 | 128,002 | ||||||
Okamura Corp. | 18,884 | 165,763 | ||||||
Pilot Corp. | 5,600 | 231,102 | ||||||
Sanix, Inc. (b)(c) | 1,300 | 14,151 | ||||||
1,283,490 | ||||||||
COMMUNICATIONS EQUIPMENT — 0.9% | ||||||||
Aiphone Co., Ltd. | 7,006 | 117,351 | ||||||
Denki Kogyo Co., Ltd. | 28,303 | 172,316 | ||||||
Hitachi Kokusai Electric, Inc. | 15,634 | 188,091 | ||||||
Icom, Inc. | 7,200 | 165,274 | ||||||
643,032 | ||||||||
CONSTRUCTION & ENGINEERING — 4.6% | ||||||||
Chugai Ro Co., Ltd. (c) | 45,522 | 102,992 | ||||||
Daiho Corp. (c) | 4,000 | 14,643 | ||||||
Hazama Ando Corp. | 6,300 | 23,674 | ||||||
Kandenko Co., Ltd. | 26,000 | 132,039 | ||||||
Kinden Corp. | 28,924 | 280,576 | ||||||
Kumagai Gumi Co., Ltd. (b)(c) | 14,000 | 34,665 | ||||||
Kyowa Exeo Corp. | 24,776 | 319,007 | ||||||
Kyudenko Corp. | 25,657 | 205,784 | ||||||
Maeda Corp. | 43,158 | 272,396 | ||||||
Maeda Road Construction Co., Ltd. | 20,000 | 279,458 | ||||||
Mirait Holdings Corp. | 20,100 | 176,437 | ||||||
Nippo Corp. | 3,000 | 41,511 | ||||||
Nishimatsu Construction Co., Ltd. (c) | 21,000 | 68,107 | ||||||
Penta-Ocean Construction Co., Ltd. (c) | 90,500 | 308,448 | ||||||
Sanki Engineering Co., Ltd. | 18,196 | 115,553 | ||||||
SHO-BOND Holdings Co., Ltd. | 8,800 | 389,649 | ||||||
Sumitomo Mitsui Construction Co., Ltd. (b) | 28,100 | 29,468 | ||||||
Taikisha, Ltd. (c) | 9,900 | 215,140 | ||||||
Tekken Corp. (b)(c) | 13,000 | 35,219 | ||||||
Toda Corp. (c) | 43,000 | 141,545 | ||||||
Tokyu Construction Co., Ltd. (c) | 17,222 | 73,079 | ||||||
Toyo Engineering Corp. (c) | 27,000 | 124,270 | ||||||
3,383,660 | ||||||||
CONSTRUCTION MATERIALS — 0.1% | ||||||||
Sumitomo Osaka Cement Co., Ltd. | 15,000 | 62,194 | ||||||
CONSUMER FINANCE — 1.0% | ||||||||
Acom Co., Ltd. (b)(c) | 80,600 | 258,271 | ||||||
Aiful Corp. (b)(c) | 42,400 | 130,100 | ||||||
Hitachi Capital Corp. | 1,500 | 32,160 | ||||||
J Trust Co., Ltd. (c) | 13,200 | 167,139 | ||||||
Orient Corp. (b)(c) | 62,700 | 126,636 | ||||||
714,306 | ||||||||
CONTAINERS & PACKAGING — 1.0% | ||||||||
FP Corp. (c) | 6,600 | 210,526 | ||||||
Fuji Seal International, Inc. | 7,970 | 272,026 | ||||||
Taisei Lamick Co., Ltd. (c) | 10,300 | 264,538 | ||||||
747,090 | ||||||||
DISTRIBUTORS — 0.3% | ||||||||
Canon Marketing Japan, Inc. | 10,300 | 141,721 | ||||||
Jin Co., Ltd. (c) | 2,100 | 62,907 | ||||||
204,628 | ||||||||
DIVERSIFIED FINANCIAL SERVICES — 1.1% | ||||||||
Century Tokyo Leasing Corp. | 13,100 | 367,490 | ||||||
Fuyo General Lease Co., Ltd. | 4,100 | 147,502 | ||||||
Japan Securities Finance Co., Ltd. | 19,919 | 115,663 | ||||||
Ricoh Leasing Co., Ltd. | 6,567 | 156,611 | ||||||
Zenkoku Hosho Co., Ltd. (c) | 1,700 | 44,949 | ||||||
832,215 | ||||||||
ELECTRIC UTILITIES — 0.3% | ||||||||
The Okinawa Electric Power Co., Inc. | 5,700 | 193,441 | ||||||
ELECTRICAL EQUIPMENT — 1.5% | ||||||||
Daihen Corp. | 31,971 | 127,592 | ||||||
Endo Lighting Corp. | 2,300 | 43,036 | ||||||
Fujikura, Ltd. | 23,000 | 105,413 | ||||||
Furukawa Electric Co., Ltd. (c) | 35,000 | 87,343 | ||||||
Futaba Corp. | 12,800 | 221,236 | ||||||
Nippon Carbon Co., Ltd. | 34,000 | 64,708 | ||||||
Nippon Signal Co., Ltd. | 16,000 | 139,982 | ||||||
Sinfonia Technology Co., Ltd. | 55,826 | 87,817 | ||||||
SWCC Showa Holdings Co., Ltd. (b)(c) | 103,075 | 104,091 | ||||||
Tatsuta Electric Wire and Cable Co., Ltd. (c) | 12,400 | 64,297 | ||||||
Toyo Tanso Co., Ltd. (c) | 3,900 | 86,608 | ||||||
1,132,123 | ||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 5.1% | ||||||||
Alps Electric Co., Ltd. (b) | 33,600 | 401,627 | ||||||
Amano Corp. | 16,932 | 175,264 | ||||||
Anritsu Corp. | 13,700 | 157,639 | ||||||
Citizen Holdings Co., Ltd. | 20,100 | 151,650 | ||||||
Daiwabo Holdings Co., Ltd. | 29,635 | 51,797 | ||||||
Enplas Corp. | 600 | 33,791 | ||||||
ESPEC Corp. | 11,531 | 89,574 | ||||||
Hakuto Co., Ltd. (c) | 17,211 | 161,606 | ||||||
Hitachi High-Technologies Corp. | 1,100 | 25,678 | ||||||
Horiba, Ltd. | 9,700 | 366,393 | ||||||
Hosiden Corp. | 20,095 | 98,734 |
See accompanying notes to financial statements.
218
SPDR Russell/Nomura Small Cap Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Japan Aviation Electronics Industry, Ltd. | 2,000 | $ | 29,946 | |||||
Japan Cash Machine Co., Ltd. (c) | 5,824 | 103,207 | ||||||
Koa Corp. | 14,091 | 157,350 | ||||||
Maruwa Co., Ltd. | 1,900 | 74,166 | ||||||
Mitsumi Electric Co., Ltd. | 1,300 | 9,430 | ||||||
Nichicon Corp. | 11,100 | 88,058 | ||||||
Nihon Dempa Kogyo Co., Ltd. | 4,795 | 37,528 | ||||||
Nippon Ceramic Co., Ltd. (c) | 6,023 | 103,342 | ||||||
Nippon Chemi-Con Corp. (b)(c) | 23,432 | 73,264 | ||||||
Oki Electric Industry Co., Ltd. (c) | 140,000 | 300,432 | ||||||
Ryosan Co., Ltd. (c) | 8,396 | 177,646 | ||||||
Ryoyo Electro Corp. | 18,004 | 231,464 | ||||||
Star Micronics Co., Ltd. | 10,669 | 128,875 | ||||||
Taiyo Yuden Co., Ltd. (c) | 23,600 | 291,720 | ||||||
Topcon Corp. (c) | 13,019 | 213,897 | ||||||
3,734,078 | ||||||||
ENERGY EQUIPMENT & SERVICES — 0.5% | ||||||||
Japan Drilling Co., Ltd. (c) | 1,700 | 72,880 | ||||||
Modec, Inc. | 6,000 | 152,177 | ||||||
Shinko Plantech Co., Ltd. (c) | 18,786 | 145,750 | ||||||
370,807 | ||||||||
FOOD & STAPLES RETAILING — 2.0% | ||||||||
Cawachi, Ltd. | 6,935 | 132,121 | ||||||
Cosmos Pharmaceutical Corp. | 600 | 70,263 | ||||||
Izumiya Co., Ltd. | 30,933 | 155,589 | ||||||
Kato Sangyo Co., Ltd. | 7,200 | 153,459 | ||||||
Matsumotokiyoshi Holdings Co., Ltd. | 9,100 | 290,270 | ||||||
Ministop Co., Ltd. | 8,894 | 144,138 | ||||||
Tsuruha Holdings, Inc. | 1,100 | 108,414 | ||||||
Valor Co., Ltd. | 9,900 | 124,681 | ||||||
Yokohama Reito Co., Ltd. | 36,280 | 302,612 | ||||||
1,481,547 | ||||||||
FOOD PRODUCTS — 2.9% | ||||||||
Ariake Japan Co., Ltd. | 8,964 | 208,378 | ||||||
Ezaki Glico Co., Ltd. | 16,000 | 212,381 | ||||||
Fuji Oil Co., Ltd. | 13,100 | 168,162 | ||||||
Fujicco Co., Ltd. | 10,657 | 128,627 | ||||||
Hokuto Corp. (c) | 9,921 | 206,830 | ||||||
Marudai Food Co., Ltd. | 79,417 | 235,972 | ||||||
Maruha Nichiro Holdings, Inc. | 91,000 | 150,216 | ||||||
Megmilk Snow Brand Co., Ltd. (c) | 14,000 | 182,978 | ||||||
Mitsui Sugar Co., Ltd. | 35,497 | 135,805 | ||||||
Morinaga Milk Industry Co., Ltd. (c) | 42,000 | 135,398 | ||||||
Nakamuraya Co., Ltd. | 40,952 | 161,446 | ||||||
Nippon Suisan Kaisha, Ltd. (b) | 50,775 | 106,988 | ||||||
Riken Vitamin Co., Ltd. | 4,880 | 111,925 | ||||||
2,145,106 | ||||||||
GAS UTILITIES — 0.2% | ||||||||
Shizuoka Gas Co., Ltd. | 29,319 | 179,356 | ||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 1.6% | ||||||||
Asahi Intecc Co., Ltd. (c) | 7,400 | 298,199 | ||||||
Fukuda Denshi Co., Ltd. | 6,286 | 278,028 | ||||||
Nakanishi, Inc. | 7,735 | 247,481 | ||||||
Nihon Kohden Corp. | 1,000 | 39,957 | ||||||
Nikkiso Co., Ltd. | 1,000 | 11,128 | ||||||
Nipro Corp. (c) | 16,600 | 149,422 | ||||||
Paramount Bed Holdings Co., Ltd. | 4,400 | 137,787 | ||||||
1,162,002 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.0% | ||||||||
Message Co., Ltd. | 5,800 | 185,289 | ||||||
Ship Healthcare Holdings, Inc. (c) | 8,900 | 342,225 | ||||||
Toho Holdings Co., Ltd. | 11,200 | 237,518 | ||||||
765,032 | ||||||||
HEALTH CARE TECHNOLOGY — 0.3% | ||||||||
M3, Inc. | 12,200 | 200,678 | ||||||
Medinet Co., Ltd. (b)(c) | 9,100 | 24,476 | ||||||
225,154 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 2.9% | ||||||||
Accordia Golf Co., Ltd. | 28,300 | 318,765 | ||||||
Doutor Nichires Holdings Co., Ltd. | 11,175 | 197,164 | ||||||
HIS Co., Ltd. | 5,700 | 325,446 | ||||||
Imperial Hotel, Ltd. | 700 | 14,852 | ||||||
MOS Food Services, Inc. (c) | 13,814 | 278,735 | ||||||
Ohsho Food Service Corp. (c) | 7,300 | 245,968 | ||||||
PGM Holdings K. K. (c) | 13,100 | 126,567 | ||||||
Round One Corp. | 16,700 | 143,349 | ||||||
Tokyo Dome Corp. | 47,085 | 242,317 | ||||||
Tokyotokeiba Co., Ltd. (c) | 7,000 | 20,935 | ||||||
Zensho Co., Ltd. (c) | 20,546 | 201,699 | ||||||
2,115,797 | ||||||||
HOUSEHOLD DURABLES — 1.7% | ||||||||
Chofu Seisakusho Co., Ltd. (c) | 10,100 | 259,892 | ||||||
Clarion Co., Ltd. (b)(c) | 34,000 | 53,484 | ||||||
Foster Electric Co., Ltd. | 7,000 | 85,372 | ||||||
France Bed Holdings Co., Ltd. | 114,734 | 215,018 | ||||||
Fujitsu General, Ltd. | 13,000 | 125,727 | ||||||
Funai Electric Co., Ltd. (b)(c) | 7,100 | 70,459 | ||||||
JVC Kenwood Holdings, Inc. (b)(c) | 23,800 | 57,544 | ||||||
Misawa Homes Holdings, Inc. | 10,766 | 138,724 | ||||||
Pioneer Corp. (b)(c) | 12,800 | 27,468 | ||||||
Token Corp. | 4,680 | 213,130 | ||||||
1,246,818 | ||||||||
INDUSTRIAL CONGLOMERATES — 0.2% | ||||||||
Katakura Industries Co., Ltd. | 11,680 | 148,686 | ||||||
INTERNET & CATALOG RETAIL — 0.7% | ||||||||
ASKUL Corp. (c) | 400 | 12,623 | ||||||
Senshukai Co., Ltd. | 23,824 | 194,784 | ||||||
Start Today Co., Ltd. (c) | 10,400 | 266,905 | ||||||
474,312 | ||||||||
INTERNET SOFTWARE & SERVICES — 0.7% | ||||||||
CROOZ, Inc. (c) | 300 | 13,473 | ||||||
F@N Communications, Inc. | 1,400 | 25,081 | ||||||
GMO Internet, Inc. | 19,500 | 194,839 | ||||||
Gree, Inc. (c) | 10,600 | 117,337 | ||||||
Internet Initiative Japan, Inc. (c) | 7,100 | 171,735 | ||||||
UNITED, Inc. (b)(c) | 1,600 | 23,817 | ||||||
546,282 | ||||||||
IT SERVICES — 2.0% | ||||||||
Billing System Corp. | 100 | 4,030 | ||||||
Digital Garage, Inc. (c) | 7,100 | 121,200 | ||||||
Future Architect, Inc. | 56,900 | 341,450 |
See accompanying notes to financial statements.
219
SPDR Russell/Nomura Small Cap Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
GMO Payment Gateway, Inc. | 200 | $ | 8,526 | |||||
Ines Corp. (c) | 27,160 | 187,510 | ||||||
IT Holdings Corp. | 14,137 | 232,539 | ||||||
Itochu Techno-Solutions Corp. (c) | 700 | 29,601 | ||||||
NET One Systems Co., Ltd. (c) | 16,700 | 113,674 | ||||||
SCSK Corp. | 8,100 | 218,732 | ||||||
Transcosmos, Inc. (b) | 8,467 | 175,284 | ||||||
1,432,546 | ||||||||
LEISURE PRODUCTS — 1.1% | ||||||||
Fields Corp. | 7,200 | 104,800 | ||||||
Heiwa Corp. | 13,700 | 235,461 | ||||||
Roland Corp. | 11,076 | 153,688 | ||||||
Tamron Co., Ltd. (c) | 5,600 | 132,951 | ||||||
Tomy Co., Ltd. (c) | 15,500 | 71,943 | ||||||
Universal Entertainment Corp. (b)(c) | 4,800 | 87,811 | ||||||
786,654 | ||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.3% | ||||||||
Chiome Bioscience, Inc. (b) | 2,000 | 60,106 | ||||||
EPS Corp. | 12,700 | 138,734 | ||||||
198,840 | ||||||||
MACHINERY — 7.8% | ||||||||
Asahi Diamond Industrial Co., Ltd. | 15,242 | 194,327 | ||||||
CKD Corp. | 12,805 | 122,349 | ||||||
Daifuku Co., Ltd. | 22,181 | 274,826 | ||||||
DMG Mori Seiki Co., Ltd. | 21,500 | 272,443 | ||||||
Fuji Machine Manufacturing Co., Ltd. | 14,442 | 127,192 | ||||||
Fujitec Co., Ltd. | 1,000 | 13,565 | ||||||
Furukawa Co., Ltd. | 88,280 | 159,441 | ||||||
Hitachi Zosen Corp. | 35,200 | 168,164 | ||||||
Hoshizaki Electric Co., Ltd. | 7,400 | 280,235 | ||||||
Iseki & Co., Ltd. (c) | 28,000 | 74,224 | ||||||
Juki Corp. (b)(c) | 33,450 | 67,559 | ||||||
Kitz Corp. | 19,102 | 93,669 | ||||||
Komori Corp. (c) | 17,840 | 223,119 | ||||||
Kyokuto Kaihatsu Kogyo Co., Ltd. (c) | 17,940 | 259,384 | ||||||
Makino Milling Machine Co., Ltd. | 24,739 | 174,640 | ||||||
Meidensha Corp. | 31,000 | 137,564 | ||||||
Minebea Co., Ltd. | 53,000 | 472,438 | ||||||
Miura Co., Ltd. | 6,500 | 179,313 | ||||||
Nachi-Fujikoshi Corp. | 46,418 | 306,494 | ||||||
Namura Shipbuilding Co., Ltd. (c) | 9,900 | 92,670 | ||||||
Nihon Trim Co., Ltd. (c) | 500 | 29,567 | ||||||
Nippon Sharyo, Ltd. (c) | 22,970 | 95,462 | ||||||
Nippon Thompson Co., Ltd. | 16,511 | 80,964 | ||||||
Nitto Kohki Co., Ltd. | 7,300 | 134,680 | ||||||
OKUMA Corp. (c) | 19,192 | 155,422 | ||||||
OSG Corp. | 15,600 | 271,146 | ||||||
Ryobi, Ltd. | 25,723 | 78,679 | ||||||
Shibuya Kogyo Co., Ltd. (c) | 800 | 21,362 | ||||||
Shima Seiki Manufacturing, Ltd. (c) | 11,900 | 183,495 | ||||||
Sintokogio, Ltd. | 14,519 | 111,235 | ||||||
Tadano, Ltd. | 18,913 | 246,456 | ||||||
Toshiba Machine Co., Ltd. | 30,009 | 142,199 | ||||||
Tsubakimoto Chain Co. | 31,124 | 223,037 | ||||||
Tsugami Corp. (c) | 14,000 | 83,876 | ||||||
Union Tool Co. | 7,332 | 168,020 | ||||||
5,719,216 | ||||||||
MARINE — 0.2% | ||||||||
Iino Kaiun Kaisha, Ltd. | 26,306 | 132,060 | ||||||
MEDIA — 2.8% | ||||||||
Adways, Inc. (b) | 2,500 | 37,942 | ||||||
Asatsu-DK, Inc. | 4,900 | 101,488 | ||||||
Avex Group Holdings, Inc. | 9,892 | 174,144 | ||||||
CyberAgent, Inc. | 6,800 | 260,815 | ||||||
Daiichikosho Co., Ltd. | 11,581 | 351,416 | ||||||
Kadokawa Corp. (c) | 4,087 | 131,160 | ||||||
Next Co., Ltd. (c) | 1,600 | 12,429 | ||||||
Shochiku Co., Ltd. (c) | 28,243 | 241,883 | ||||||
SKY Perfect JSAT Holdings, Inc. | 32,200 | 172,592 | ||||||
Tokyo Broadcasting System Holdings, Inc. | 12,700 | 147,120 | ||||||
TV Asahi Corp. | 17,800 | 323,212 | ||||||
Usen Corp. (b)(c) | 9,180 | 28,881 | ||||||
ValueCommerce Co., Ltd. (c) | 700 | 6,981 | ||||||
Zenrin Co., Ltd. (c) | 9,724 | 98,387 | ||||||
2,088,450 | ||||||||
METALS & MINING — 2.9% | ||||||||
Aichi Steel Corp. | 26,000 | 102,500 | ||||||
Asahi Holdings, Inc. | 11,400 | 185,415 | ||||||
Daido Steel Co., Ltd. (c) | 14,000 | 70,146 | ||||||
Godo Steel, Ltd. | 26,440 | 37,227 | ||||||
Kyoei Steel, Ltd. (c) | 5,800 | 103,063 | ||||||
Maruichi Steel Tube, Ltd. | 13,200 | 342,096 | ||||||
Mitsui Mining & Smelting Co., Ltd. | 47,000 | 108,618 | ||||||
Nippon Denko Co., Ltd. | 34,000 | 90,790 | ||||||
Nippon Yakin Kogyo Co., Ltd. (b)(c) | 23,000 | 73,923 | ||||||
Nisshin Steel Holdings Co., Ltd. | 18,600 | 159,478 | ||||||
OSAKA Titanium Technologies Co. (c) | 5,600 | 97,226 | ||||||
Pacific Metals Co., Ltd. (b)(c) | 14,000 | 52,338 | ||||||
Sanyo Special Steel Co., Ltd. | 29,750 | 125,084 | ||||||
Toho Titanium Co., Ltd. (b)(c) | 8,400 | 50,407 | ||||||
Toho Zinc Co., Ltd. (c) | 45,796 | 139,187 | ||||||
Tokyo Rope Manufacturing Co., Ltd. (b)(c) | 41,654 | 64,715 | ||||||
Tokyo Steel Manufacturing Co., Ltd. | 14,600 | 78,540 | ||||||
UACJ Corp. (c) | 46,000 | 190,280 | ||||||
Yamato Kogyo Co., Ltd. | 1,100 | 34,554 | ||||||
2,105,587 | ||||||||
MULTILINE RETAIL — 0.8% | ||||||||
Izumi Co., Ltd. | 10,900 | 322,814 | ||||||
Matsuya Co., Ltd. | 8,508 | 70,800 | ||||||
Parco Co., Ltd. (c) | 17,525 | 149,580 | ||||||
Seria Co., Ltd. | 1,000 | 37,141 | ||||||
580,335 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 0.2% | ||||||||
Itochu Enex Co., Ltd. | 29,104 | 167,584 | ||||||
PAPER & FOREST PRODUCTS — 1.0% | ||||||||
Daio Paper Corp. (c) | 22,940 | 275,988 | ||||||
Nippon Paper Industries Co., Ltd. (c) | 22,400 | 423,052 | ||||||
699,040 | ||||||||
PERSONAL PRODUCTS — 1.6% | ||||||||
Dr Ci:Labo Co., Ltd. (c) | 3,848 | 119,567 |
See accompanying notes to financial statements.
220
SPDR Russell/Nomura Small Cap Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Euglena Co., Ltd. (b)(c) | 4,500 | $ | 44,395 | |||||
Fancl Corp. | 10,200 | 121,427 | ||||||
Mandom Corp. | 8,845 | 320,356 | ||||||
Milbon Co., Ltd. | 7,600 | 253,493 | ||||||
Pola Orbis Holdings, Inc. | 5,200 | 207,273 | ||||||
Unihair Co., Ltd. | 10,704 | 122,750 | ||||||
1,189,261 | ||||||||
PHARMACEUTICALS — 2.2% | ||||||||
JCR Pharmaceuticals Co., Ltd. | 500 | 11,506 | ||||||
Kaken Pharmaceutical Co., Ltd. | 25,428 | 402,957 | ||||||
KYORIN Holdings, Inc. | 14,900 | 285,167 | ||||||
Mochida Pharmaceutical Co., Ltd. | 4,600 | 330,087 | ||||||
Nichi-iko Pharmaceutical Co., Ltd. | 7,765 | 119,885 | ||||||
Torii Pharmaceutical Co., Ltd. | 8,400 | 273,244 | ||||||
Towa Pharmaceutical Co., Ltd. (c) | 3,300 | 142,754 | ||||||
ZERIA Pharmaceutical Co., Ltd. | 1,000 | 20,352 | ||||||
1,585,952 | ||||||||
PROFESSIONAL SERVICES — 0.9% | ||||||||
Meitic Corp. (c) | 8,744 | 248,773 | ||||||
Nihon M&A Center, Inc. | 11,100 | 297,912 | ||||||
Pasona Group, Inc. | 16,300 | 96,390 | ||||||
Temp Holdings Co., Ltd. | 1,600 | 42,538 | ||||||
685,613 | ||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.9% | ||||||||
Daibiru Corp. | 17,126 | 182,926 | ||||||
Daikyo, Inc. (c) | 43,352 | 87,138 | ||||||
Goldcrest Co., Ltd. | 4,309 | 91,172 | ||||||
Heiwa Real Estate Co., Ltd. | 16,700 | 267,239 | ||||||
K.K. daVinci Holdings (b)(d) | 262 | 0 | ||||||
Kenedix, Inc. (b)(c) | 49,300 | 159,889 | ||||||
Leopalace21 Corp. (b) | 26,200 | 125,931 | ||||||
NTT Urban Development Corp. | 29,400 | 277,485 | ||||||
Sun Frontier Fudousan Co., Ltd. (c) | 700 | 9,679 | ||||||
Suruga Corp. (b)(d)(e) | 10,689 | 0 | ||||||
TOC Co., Ltd. | 31,300 | 225,514 | ||||||
1,426,973 | ||||||||
ROAD & RAIL — 1.3% | ||||||||
Hamakyorex Co., Ltd. | 4,800 | 129,339 | ||||||
Hitachi Transport System, Ltd. | 12,800 | 208,310 | ||||||
Kobe Electric Railway Co., Ltd. (b)(c) | 41,500 | 137,010 | ||||||
Sankyu, Inc. | 54,830 | 206,042 | ||||||
Seino Holdings Co., Ltd. | 25,000 | 238,627 | ||||||
919,328 | ||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.7% | ||||||||
Dainippon Screen Manufacturing Co., Ltd. | 39,000 | 180,638 | ||||||
Disco Corp. (c) | 1,600 | 99,743 | ||||||
Ferrotec Corp. | 8,200 | 43,076 | ||||||
Megachips Corp. (b)(c) | 8,800 | 103,394 | ||||||
Nuflare Technology, Inc. (c) | 100 | 6,622 | ||||||
Sanken Electric Co., Ltd. (c) | 2,000 | 14,177 | ||||||
Shindengen Electric Manufacturing Co., Ltd. (c) | 3,000 | 13,283 | ||||||
Shinko Electric Industries Co., Ltd. (c) | 20,200 | 146,128 | ||||||
Sumco Corp. (c) | 22,600 | 174,901 | ||||||
Tokyo Seimitsu Co., Ltd. | 13,200 | 232,892 | ||||||
Ulvac, Inc. (b) | 10,302 | 210,972 | ||||||
1,225,826 | ||||||||
SOFTWARE — 2.0% | ||||||||
Advanced Media, Inc. (b) | 700 | 8,333 | ||||||
Broadleaf Co., Ltd. | 1,500 | 23,479 | ||||||
Capcom Co., Ltd. (c) | 10,700 | 203,434 | ||||||
COLOPL, Inc. (b)(c) | 3,500 | 92,169 | ||||||
DTS Corp. | 11,732 | 205,739 | ||||||
Dwango Co., Ltd. (c) | 4,700 | 157,450 | ||||||
Fuji Soft, Inc. | 9,374 | 199,977 | ||||||
Justsystems Corp. (b) | 1,700 | 13,123 | ||||||
KLab, Inc. (b)(c) | 2,000 | 11,400 | ||||||
Nexon Co., Ltd. | 11,200 | 94,616 | ||||||
NSD Co., Ltd. | 13,278 | 166,708 | ||||||
Square Enix Holdings Co., Ltd. (c) | 13,300 | 274,433 | ||||||
1,450,861 | ||||||||
SPECIALTY RETAIL — 4.0% | ||||||||
ABC-Mart, Inc. | 4,900 | 213,157 | ||||||
Adastria Holdings Co., Ltd. (c) | 4,450 | 111,223 | ||||||
Autobacs Seven Co., Ltd. | 20,288 | 313,229 | ||||||
Bic Camera, Inc. (c) | 37,800 | 228,301 | ||||||
Chiyoda Co., Ltd. | 7,113 | 154,506 | ||||||
DCM Japan Holdings Co., Ltd. | 20,100 | 134,670 | ||||||
EDION Corp. (c) | 14,350 | 80,121 | ||||||
Geo Holdings Corp. (c) | 13,100 | 115,755 | ||||||
Hikari Tsushin, Inc. | 4,400 | 372,132 | ||||||
K’s Holdings Corp. | 9,100 | 253,512 | ||||||
Kohnan Shoji Co., Ltd. (c) | 12,600 | 127,853 | ||||||
Komeri Co., Ltd. | 6,630 | 180,710 | ||||||
Nishimatsuya Chain Co., Ltd. (c) | 11,666 | 84,846 | ||||||
Shimachu Co., Ltd. | 13,000 | 284,022 | ||||||
United Arrows, Ltd. | 4,829 | 179,121 | ||||||
Xebio Co., Ltd. | 7,161 | 124,814 | ||||||
2,957,972 | ||||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.8% | ||||||||
Eizo Nanao Corp. | 7,300 | 191,245 | ||||||
Melco Holdings, Inc. (c) | 4,000 | 58,883 | ||||||
Riso Kagaku Corp. | 4,547 | 112,720 | ||||||
Wacom Co., Ltd. (c) | 34,700 | 244,283 | ||||||
607,131 | ||||||||
TEXTILES, APPAREL & LUXURY GOODS — 2.0% | ||||||||
Atsugi Co., Ltd. | 160,470 | 182,308 | ||||||
Daidoh, Ltd. | 18,911 | 117,706 | ||||||
Gunze, Ltd. | 47,348 | 125,973 | ||||||
Onward Holdings Co., Ltd. | 25,000 | 173,569 | ||||||
Sanyo Shokai, Ltd. | 49,516 | 144,723 | ||||||
Seiko Holdings Corp. (c) | 20,649 | 82,408 | ||||||
The Japan Wool Textile Co., Ltd. | 27,170 | 211,060 | ||||||
Toyobo Co., Ltd. (c) | 128,000 | 201,350 | ||||||
TSI Holdings Co., Ltd. | 17,300 | 114,734 | ||||||
Unitika, Ltd. (b)(c) | 139,084 | 76,980 | ||||||
1,430,811 | ||||||||
TRADING COMPANIES & DISTRIBUTORS — 3.5% | ||||||||
Hanwa Co., Ltd. | 57,032 | 221,516 |
See accompanying notes to financial statements.
221
SPDR Russell/Nomura Small Cap Japan ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Inaba Denki Sangyo Co., Ltd. | 8,763 | $ | 282,499 | |||||
Inabata & Co., Ltd. | 26,675 | 272,487 | ||||||
Iwatani Corp. | 59,422 | 388,896 | ||||||
Kanamoto Co., Ltd. | 8,500 | 249,260 | ||||||
Kuroda Electric Co., Ltd. (c) | 25,400 | 412,132 | ||||||
MonotaRO Co., Ltd. (c) | 8,600 | 218,956 | ||||||
Nichiden Corp. | 7,700 | 183,032 | ||||||
Okaya & Co., Ltd. | 10,405 | 131,142 | ||||||
Trusco Nakayama Corp. | 10,400 | 240,548 | ||||||
2,600,468 | ||||||||
TRANSPORTATION INFRASTRUCTURE — 1.1% | ||||||||
Japan Airport Terminal Co., Ltd. (c) | 11,048 | 287,611 | ||||||
Mitsubishi Logistics Corp. | 10,000 | 139,438 | ||||||
Mitsui-Soko Co., Ltd. | 40,686 | 162,768 | ||||||
The Sumitomo Warehouse Co., Ltd. | 47,563 | 232,308 | ||||||
822,125 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $82,336,436) | 72,585,473 | |||||||
SHORT TERM INVESTMENTS — 18.7% | ||||||||
UNITED STATES — 18.7% | ||||||||
MONEY MARKET FUNDS — 18.7% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (f)(g) | 13,510,788 | 13,510,788 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (g)(h) | 199,230 | 199,230 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $13,710,018) | 13,710,018 | |||||||
TOTAL INVESTMENTS (i) — 117.6% | ||||||||
(Cost $96,046,454) | 86,295,491 | |||||||
OTHER ASSETS & LIABILITIES — (17.6)% | (12,899,287 | ) | ||||||
NET ASSETS — 100.0% | $ | 73,396,204 | ||||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Non-income producing security | |||||
(c) | A portion of the security was on loan at March 31, 2014. | |||||
(d) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs (Note 2). | |||||
(e) | Company has filed for insolvency. | |||||
(f) | Investments of cash collateral for securities loaned | |||||
(g) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(h) | The rate shown is the annualized seven-day yield at period end. | |||||
(i) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs (Note 2). |
See accompanying notes to financial statements.
222
SPDR S&P Global Dividend ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
AUSTRALIA — 7.5% | ||||||||
ALS, Ltd. (a) | 24,291 | $ | 165,029 | |||||
APA Group (a) | 33,001 | 196,674 | ||||||
CFS Retail Property Trust Group | 126,141 | 220,967 | ||||||
Coca-Cola Amatil, Ltd. (a) | 14,491 | 148,144 | ||||||
JB Hi-Fi, Ltd. (a) | 8,612 | 149,663 | ||||||
Sonic Healthcare, Ltd. | 10,436 | 167,046 | ||||||
Woolworths, Ltd. | 6,408 | 212,150 | ||||||
1,259,673 | ||||||||
BRAZIL — 1.0% | ||||||||
Natura Cosmeticos SA | 10,395 | 175,607 | ||||||
CANADA — 15.8% | ||||||||
Bank of Montreal | 2,042 | 136,830 | ||||||
Bank of Nova Scotia | 2,035 | 118,053 | ||||||
Canadian Apartment Properties REIT | 8,390 | 162,061 | ||||||
Canadian Imperial Bank of Commerce (a) | 1,654 | 142,735 | ||||||
Cominar Real Estate Investment Trust | 13,991 | 234,504 | ||||||
Emera, Inc. | 5,024 | 156,626 | ||||||
Fortis, Inc. | 4,503 | 128,593 | ||||||
Great-West Lifeco, Inc. | 4,105 | 113,322 | ||||||
IGM Financial, Inc. | 2,400 | 113,374 | ||||||
National Bank of Canada | 3,239 | 130,000 | ||||||
Power Corp. of Canada | 4,033 | 110,421 | ||||||
Power Financial Corp. (a) | 3,871 | 120,049 | ||||||
RioCan REIT | 7,547 | 182,085 | ||||||
Rogers Communications, Inc. (Class B) (a) | 2,850 | 118,286 | ||||||
Royal Bank of Canada | 1,831 | 120,917 | ||||||
Shaw Communications, Inc. (Class B) | 5,846 | 139,827 | ||||||
Sun Life Financial, Inc. | 3,533 | 122,531 | ||||||
TELUS Corp. | 4,015 | 144,158 | ||||||
TransCanada Corp. (a) | 3,044 | 138,583 | ||||||
2,632,955 | ||||||||
CHINA — 3.5% | ||||||||
Jiangsu Expressway Co., Ltd. | 140,000 | 159,545 | ||||||
Sino Land Co., Ltd. | 116,000 | 170,477 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (a) | 1,166,000 | 248,020 | ||||||
578,042 | ||||||||
FINLAND — 1.9% | ||||||||
Fortum Oyj | 8,178 | 185,977 | ||||||
Konecranes Oyj | 3,913 | 124,742 | ||||||
310,719 | ||||||||
FRANCE — 7.7% | ||||||||
Bouygues SA | 5,202 | 217,061 | ||||||
GDF Suez | 11,943 | 326,904 | ||||||
Neopost SA | 2,991 | 236,293 | ||||||
Total SA (a) | 3,159 | 207,245 | ||||||
Unibail-Rodamco SE | 568 | 147,566 | ||||||
Vinci SA | 1,929 | 143,328 | ||||||
1,278,397 | ||||||||
GERMANY — 2.5% | ||||||||
Bilfinger SE | 1,183 | 150,150 | ||||||
Deutsche Euroshop AG | 2,690 | 122,403 | ||||||
Muenchener Rueckversicherungs- Gesellschaft AG | 668 | 146,018 | ||||||
418,571 | ||||||||
HONG KONG — 1.6% | ||||||||
China Mobile, Ltd. | 15,000 | 137,295 | ||||||
CLP Holdings, Ltd. | 16,500 | 124,435 | ||||||
261,730 | ||||||||
ITALY — 2.3% | ||||||||
Atlantia SpA | 6,722 | 172,784 | ||||||
Hera SpA | 71,081 | 207,691 | ||||||
380,475 | ||||||||
JAPAN — 3.1% | ||||||||
Canon, Inc. | 4,200 | 130,138 | ||||||
Eisai Co., Ltd. (a) | 3,400 | 132,652 | ||||||
TonenGeneral Sekiyu K.K. | 15,000 | 132,689 | ||||||
UNY Group Holdings Co., Ltd. | 21,000 | 125,203 | ||||||
520,682 | ||||||||
NORWAY — 2.4% | ||||||||
Orkla ASA | 24,826 | 211,685 | ||||||
StatoilHydro ASA | 6,622 | 186,923 | ||||||
398,608 | ||||||||
PORTUGAL — 1.5% | ||||||||
EDP — Energias de Portugal SA | 54,788 | 254,549 | ||||||
SINGAPORE — 1.0% | ||||||||
Singapore Telecommunications, Ltd. | 58,000 | 168,343 | ||||||
SOUTH AFRICA — 4.0% | ||||||||
MTN Group, Ltd. (a) | 7,186 | 147,267 | ||||||
Standard Bank Group, Ltd. (a) | 9,864 | 130,171 | ||||||
The Foschini Group, Ltd. (a) | 21,592 | 219,966 | ||||||
Truworths International, Ltd. | 24,110 | 177,079 | ||||||
674,483 | ||||||||
SOUTH KOREA — 1.0% | ||||||||
KT&G Corp. | 2,131 | 160,158 | ||||||
SPAIN — 3.1% | ||||||||
Abertis Infraestructuras SA | 5,959 | 136,130 | ||||||
Enagas SA | 6,851 | 208,441 | ||||||
Red Electrica Corporacion SA | 2,228 | 181,174 | ||||||
525,745 | ||||||||
SWEDEN — 4.4% | ||||||||
Skanska AB (Class B) | 8,020 | 188,639 | ||||||
Tele2 AB | 30,062 | 372,324 | ||||||
TeliaSonera AB | 23,181 | 174,477 | ||||||
735,440 | ||||||||
SWITZERLAND — 4.1% | ||||||||
Baloise Holding AG | 994 | 125,129 | ||||||
Banque Cantonale Vaudoise | 376 | 219,424 | ||||||
PSP Swiss Property AG (b) | 1,629 | 153,246 | ||||||
Swiss Prime Site AG (b) | 2,131 | 181,292 | ||||||
679,091 | ||||||||
TAIWAN — 1.0% | ||||||||
Simplo Technology Co., Ltd. | 36,000 | 171,415 | ||||||
See accompanying notes to financial statements.
223
SPDR S&P Global Dividend ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
THAILAND — 1.3% | ||||||||
Advanced Info Service PCL, NVDR | 31,400 | $ | 218,755 | |||||
UNITED KINGDOM — 9.4% | ||||||||
AstraZeneca PLC | 2,771 | 179,082 | ||||||
BAE Systems PLC | 22,407 | 154,728 | ||||||
BHP Billiton PLC | 4,504 | 138,463 | ||||||
British American Tobacco PLC | 2,851 | 158,538 | ||||||
Carillion PLC | 33,653 | 202,874 | ||||||
Centrica PLC | 27,073 | 148,809 | ||||||
GlaxoSmithKline PLC | 6,155 | 163,309 | ||||||
Tesco PLC | 28,336 | 139,548 | ||||||
United Business Media PLC | 12,688 | 144,262 | ||||||
William Morrison Supermarkets PLC | 37,921 | 134,658 | ||||||
1,564,271 | ||||||||
UNITED STATES — 19.4% | ||||||||
Avista Corp. (a) | 4,727 | 144,882 | ||||||
Consolidated Edison, Inc. (a) | 2,594 | 139,168 | ||||||
Darden Restaurants, Inc. (a) | 2,833 | 143,803 | ||||||
Entergy Corp. (a) | 2,698 | 180,361 | ||||||
FirstEnergy Corp. (a) | 6,553 | 222,999 | ||||||
Hawaiian Electric Industries, Inc. (a) | 5,718 | 145,351 | ||||||
HollyFrontier Corp. | 4,560 | 216,965 | ||||||
Integrys Energy Group, Inc. | 2,892 | 172,508 | ||||||
National Health Investors, Inc. (a) | 3,048 | 184,282 | ||||||
New York Community Bancorp, Inc. (a) | 10,998 | 176,738 | ||||||
Northwest Natural Gas Co. (a) | 3,171 | 139,556 | ||||||
People’s United Financial, Inc. (a) | 8,689 | 129,205 | ||||||
Pepco Holdings, Inc. (a) | 9,364 | 191,775 | ||||||
Pinnacle West Capital Corp. | 2,513 | 137,361 | ||||||
PPL Corp. (a) | 5,007 | 165,932 | ||||||
Public Service Enterprise Group, Inc. (a) | 4,334 | 165,299 | ||||||
SCANA Corp. (a) | 2,926 | 150,162 | ||||||
Southern Co. (a) | 3,727 | 163,764 | ||||||
UIL Holdings Corp. (a) | 3,691 | 135,866 | ||||||
United Bankshares, Inc. | 4,290 | 131,360 | ||||||
3,237,337 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $15,921,573) | 16,605,046 | |||||||
SHORT TERM INVESTMENTS — 17.5% | ||||||||
UNITED STATES — 17.5% | ||||||||
MONEY MARKET FUNDS — 17.5% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 2,846,232 | 2,846,232 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 76,547 | 76,547 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $2,922,779) | 2,922,779 | |||||||
TOTAL INVESTMENTS — 117.0% | ||||||||
(Cost $18,844,352) | 19,527,825 | |||||||
OTHER ASSETS & LIABILITIES — (17.0)% | (2,830,298 | ) | ||||||
NET ASSETS — 100.0% | $ | 16,697,527 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
224
SPDR S&P International Dividend ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.6% | ||||||||
AUSTRALIA — 21.9% | ||||||||
APA Group (a) | 3,115,164 | $ | 18,565,277 | |||||
ASX, Ltd. | 418,382 | 13,987,132 | ||||||
Australia & New Zealand Banking Group, Ltd. | 516,623 | 15,830,190 | ||||||
Bendigo and Adelaide Bank, Ltd. (a) | 1,439,958 | 15,188,037 | ||||||
CFS Retail Property Trust Group | 5,004,131 | 8,765,971 | ||||||
Commonwealth Bank of Australia | 193,814 | 13,911,054 | ||||||
Dexus Property Group | 13,069,035 | 12,839,820 | ||||||
DUET Group | 6,182,377 | 11,918,686 | ||||||
Federation Centres, Ltd. | 5,802,897 | 12,693,062 | ||||||
Insurance Australia Group, Ltd. | 3,514,483 | 18,143,714 | ||||||
Metcash, Ltd. (a) | 6,954,698 | 16,888,424 | ||||||
Monadelphous Group, Ltd. (a) | 677,428 | 10,554,567 | ||||||
Myer Holdings, Ltd. (a) | 6,085,928 | 12,578,858 | ||||||
National Australia Bank, Ltd. | 513,022 | 16,861,036 | ||||||
OZ Minerals, Ltd. (a) | 3,710,862 | 12,244,311 | ||||||
SP AusNet (a) | 6,823,127 | 8,284,462 | ||||||
Spark Infrastructure Group | 5,502,265 | 8,720,616 | ||||||
Stockland | 2,514,462 | 8,739,486 | ||||||
Tatts Group, Ltd. | 5,264,058 | 14,149,080 | ||||||
Westfield Retail Trust | 2,938,682 | 8,116,680 | ||||||
Westpac Banking Corp. | 551,346 | 17,660,684 | ||||||
WorleyParsons, Ltd. | 2,048,257 | 28,742,191 | ||||||
305,383,338 | ||||||||
BELGIUM — 2.3% | ||||||||
Belgacom SA (a) | 1,004,140 | 31,457,309 | ||||||
BRAZIL — 2.2% | ||||||||
Companhia Energetica de Minas Gerais ADR (a) | 2,049,790 | 13,938,572 | ||||||
CPFL Energia SA ADR (a) | 491,824 | 8,031,486 | ||||||
Oi SA ADR (a) | 6,398,233 | 8,509,650 | ||||||
30,479,708 | ||||||||
CANADA — 9.4% | ||||||||
Artis REIT | 623,567 | 8,886,712 | ||||||
Baytex Energy Corp. (a) | 515,635 | 21,265,418 | ||||||
Bell Aliant, Inc. (a) | 449,627 | 11,015,098 | ||||||
Calloway REIT | 297,792 | 6,950,054 | ||||||
Canadian Oil Sands, Ltd. | 1,134,960 | 23,845,728 | ||||||
Cominar Real Estate Investment Trust | 437,075 | 7,325,832 | ||||||
Crescent Point Energy Corp. (a) | 561,772 | 20,536,807 | ||||||
Dundee Real Estate Investment Trust | 344,156 | 9,061,086 | ||||||
Lightstream Resources, Ltd. (a) | 1,304,214 | 6,640,709 | ||||||
Penn West Petroleum, Ltd. (a) | 1,851,133 | 15,496,688 | ||||||
131,024,132 | ||||||||
CHINA — 2.6% | ||||||||
Bank of China, Ltd. | 14,550,000 | 6,452,453 | ||||||
China Shanshui Cement Group, Ltd. | 30,415,000 | 12,821,504 | ||||||
Giant Interactive Group, Inc. ADR | 790,259 | 9,143,297 | ||||||
Zijin Mining Group Co., Ltd. (Class H) (a) | 39,278,000 | 8,354,813 | ||||||
36,772,067 | ||||||||
COLOMBIA — 0.9% | ||||||||
Ecopetrol SA, ADR (a) | 304,510 | 12,420,963 | ||||||
CZECH REPUBLIC — 1.5% | ||||||||
CEZ AS | 468,503 | 13,440,578 | ||||||
Komercni Banka AS | 30,110 | 7,200,906 | ||||||
20,641,484 | ||||||||
DENMARK — 1.6% | ||||||||
TDC A/S | 2,406,174 | 22,253,889 | ||||||
FINLAND — 5.3% | ||||||||
Elisa Oyj (a) | 517,752 | 14,906,926 | ||||||
Fortum Oyj | 824,744 | 18,755,601 | ||||||
Metso Oyj (a) | 724,655 | 23,700,467 | ||||||
Orion Oyj (Class B) (a) | 292,170 | 8,822,788 | ||||||
YIT Oyj (a) | 664,314 | 7,077,514 | ||||||
73,263,296 | ||||||||
FRANCE — 2.5% | ||||||||
Fonciere Des Regions | 84,580 | 7,838,325 | ||||||
Neopost SA (a) | 112,403 | 8,879,979 | ||||||
Total SA (a) | 276,492 | 18,139,169 | ||||||
34,857,473 | ||||||||
GERMANY — 6.4% | ||||||||
Freenet AG | 605,008 | 21,167,333 | ||||||
K+S AG | 612,082 | 20,115,684 | ||||||
ProSiebenSat.1 Media AG | 844,807 | 38,679,869 | ||||||
Telefonica Deutschland Holding AG | 1,204,555 | 9,605,787 | ||||||
89,568,673 | ||||||||
HONG KONG — 1.7% | ||||||||
BOC Hong Kong Holdings, Ltd. (a) | 3,999,500 | 11,394,660 | ||||||
Shougang Fushan Resources Group, Ltd. (a) | 12,548,000 | 3,817,596 | ||||||
Yue Yuen Industrial Holdings, Ltd. | 2,699,000 | 8,785,524 | ||||||
23,997,780 | ||||||||
ISRAEL — 3.4% | ||||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 14,004,950 | 24,922,924 | ||||||
Israel Chemicals, Ltd. | 2,484,899 | 21,708,113 | ||||||
46,631,037 | ||||||||
ITALY — 3.9% | ||||||||
Atlantia SpA | 593,197 | 15,247,746 | ||||||
ENI SpA | 812,157 | 20,383,455 | ||||||
Terna Rete Elettrica Nationale SpA | 3,448,784 | 18,480,772 | ||||||
54,111,973 | ||||||||
MEXICO — 0.7% | ||||||||
Grupo Financiero Santander Mexico SAB de CV ADR (Class B) (a) | 755,480 | 9,284,849 | ||||||
NETHERLANDS — 1.3% | ||||||||
Corio NV | 238,505 | 10,903,623 | ||||||
VimpelCom, Ltd. ADR | 772,233 | 6,973,264 | ||||||
17,876,887 | ||||||||
NEW ZEALAND — 1.2% | ||||||||
Telecom Corporation of New Zealand, Ltd. | 8,060,511 | 17,066,595 | ||||||
See accompanying notes to financial statements.
225
SPDR S&P International Dividend ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
NORWAY — 1.0% | ||||||||
Gjensidige Forsikring ASA | 661,838 | $ | 13,464,372 | |||||
PORTUGAL — 1.8% | ||||||||
EDP — Energias de Portugal SA | 5,508,932 | 25,594,935 | ||||||
RUSSIA — 0.6% | ||||||||
MegaFon OAO GDR | 281,236 | 7,916,793 | ||||||
SINGAPORE — 3.1% | ||||||||
Ascendas REIT | 4,475,000 | 8,042,225 | ||||||
Hutchison Port Holdings Trust (a) | 29,190,000 | 18,973,500 | ||||||
Keppel REIT (a) | 8,808,000 | 7,984,669 | ||||||
Suntec REIT (a) | 6,291,000 | 8,304,290 | ||||||
43,304,684 | ||||||||
SOUTH AFRICA — 2.2% | ||||||||
Kumba Iron Ore, Ltd. (a) | 267,566 | 9,615,983 | ||||||
MMI Holdings, Ltd. | 2,610,213 | 6,104,949 | ||||||
Redefine Properties, Ltd. | 7,172,936 | 6,512,853 | ||||||
Vodacom Group, Ltd. (a) | 730,044 | 9,022,563 | ||||||
31,256,348 | ||||||||
SOUTH KOREA — 0.7% | ||||||||
KT Corp. ADR (b) | 669,006 | 9,292,493 | ||||||
SPAIN — 5.0% | ||||||||
Enagas SA | 690,838 | 21,018,649 | ||||||
Ferrovial SA | 1,399,524 | 30,331,848 | ||||||
Red Electrica Corporacion SA | 224,747 | 18,275,690 | ||||||
69,626,187 | ||||||||
SWEDEN — 4.1% | ||||||||
NCC AB (Class B) (a) | 346,855 | 12,529,161 | ||||||
Skanska AB (Class B) | 710,230 | 16,705,366 | ||||||
Swedbank AB (Class A) | 462,819 | 12,399,327 | ||||||
TeliaSonera AB (a) | 2,040,146 | 15,355,650 | ||||||
56,989,504 | ||||||||
SWITZERLAND — 1.2% | ||||||||
Zurich Insurance Group AG (b) | 53,180 | 16,338,996 | ||||||
THAILAND — 0.7% | ||||||||
Shin Corp. PCL, NVDR | 4,048,978 | 9,641,910 | ||||||
TURKEY — 2.6% | ||||||||
Tofas Turk Otomobil Fabrikasi AS | 1,485,783 | 8,438,792 | ||||||
Tupras-Turkiye Petrol Rafinerileri AS | 705,728 | 14,944,595 | ||||||
Turk Telekomunikasyon AS | 4,431,944 | 12,327,070 | ||||||
35,710,457 | ||||||||
UNITED KINGDOM — 7.8% | ||||||||
Admiral Group PLC | 547,575 | 13,036,065 | ||||||
AstraZeneca PLC | 407,838 | 26,357,377 | ||||||
BAE Systems PLC | 1,958,114 | 13,521,435 | ||||||
Carillion PLC (a) | 1,540,893 | 9,289,142 | ||||||
Inmarsat PLC | 837,164 | 10,139,601 | ||||||
National Grid PLC | 1,236,440 | 16,944,142 | ||||||
Royal Dutch Shell PLC (Class A) | 545,736 | 19,934,241 | ||||||
109,222,003 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $1,323,379,157) | 1,385,450,135 | |||||||
SHORT TERM INVESTMENTS — 15.6% | ||||||||
UNITED STATES — 15.6% | ||||||||
MONEY MARKET FUNDS — 15.6% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 210,761,578 | 210,761,578 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 6,402,816 | 6,402,816 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $217,164,394) | 217,164,394 | |||||||
TOTAL INVESTMENTS — 115.2% | ||||||||
(Cost $1,540,543,551) | 1,602,614,529 | |||||||
OTHER ASSETS & LIABILITIES — (15.2)% | (211,386,332 | ) | ||||||
NET ASSETS — 100.0% | $ | 1,391,228,197 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
226
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 98.9% | ||||||||
AUSTRALIA — 6.8% | ||||||||
ALS, Ltd. (a) | 11,415 | $ | 77,551 | |||||
Alumina, Ltd. (b) | 63,537 | 70,373 | ||||||
Ansell, Ltd. | 4,479 | 76,427 | ||||||
APA Group (a) | 25,514 | 152,054 | ||||||
Aristocrat Leisure, Ltd. | 14,629 | 72,947 | ||||||
Asciano Group | 31,200 | 150,372 | ||||||
Bank of Queensland, Ltd. | 10,601 | 126,258 | ||||||
Bendigo and Adelaide Bank, Ltd. (a) | 13,284 | 140,114 | ||||||
BlueScope Steel, Ltd. (a)(b) | 17,221 | 97,843 | ||||||
Boral, Ltd. (a) | 23,595 | 123,560 | ||||||
Caltex Australia, Ltd. (a) | 4,394 | 89,963 | ||||||
carsales.com, Ltd. (a) | 6,900 | 69,389 | ||||||
Challenger Financial Services Group, Ltd. | 13,442 | 79,736 | ||||||
Cochlear, Ltd. (a) | 1,856 | 98,053 | ||||||
Computershare, Ltd. | 15,633 | 175,322 | ||||||
Dexus Property Group | 185,864 | 182,604 | ||||||
DUET Group (a) | 38,099 | 73,449 | ||||||
Echo Entertainment Group, Ltd. (a) | 168 | 381 | ||||||
Federation Centres, Ltd. | 45,722 | 100,011 | ||||||
Flight Centre Travel Group Ltd. (a) | 1,709 | 83,143 | ||||||
GrainCorp, Ltd. | 7,227 | 56,400 | ||||||
Harvey Norman Holdings, Ltd. (a) | 24,461 | 74,817 | ||||||
Iluka Resources, Ltd. (a) | 12,640 | 116,099 | ||||||
Incitec Pivot, Ltd. | 45,068 | 123,643 | ||||||
Lend Lease Group | 18,434 | 202,464 | ||||||
Metcash, Ltd. (a) | 27,047 | 65,680 | ||||||
Navitas, Ltd. | 9,585 | 64,852 | ||||||
New Hope Corp. Ltd. | 5,380 | 14,910 | ||||||
Platinum Asset Management Ltd. (a) | 4,249 | 29,379 | ||||||
Primary Health Care, Ltd. | 14,547 | 63,504 | ||||||
Qantas Airways, Ltd. (b) | 34,386 | 35,217 | ||||||
REA Group, Ltd. (a) | 1,671 | 75,502 | ||||||
Reece Australia Ltd. | 1,284 | 35,714 | ||||||
Seek, Ltd. (a) | 9,987 | 162,636 | ||||||
Seven Group Holdings Ltd. | 2,842 | 21,758 | ||||||
Seven West Media, Ltd. (a) | 17,796 | 32,659 | ||||||
SP AusNet (a) | 42,427 | 51,514 | ||||||
Spark Infrastructure Group | 28,824 | 45,684 | ||||||
Super Retail Group Ltd. | 3,811 | 38,996 | ||||||
TABCORP Holdings, Ltd. | 21,858 | 69,083 | ||||||
Tatts Group, Ltd. | 51,177 | 137,557 | ||||||
TPG Telecom, Ltd. | 7,885 | 48,600 | ||||||
Treasury Wine Estates, Ltd. | 20,356 | 66,600 | ||||||
Washington H Soul Pattinson & Co., Ltd. | 3,333 | 47,975 | ||||||
WorleyParsons, Ltd. | 6,416 | 90,033 | ||||||
3,810,826 | ||||||||
AUSTRIA — 0.6% | ||||||||
Atrium European Real Estate, Ltd. (b) | 3,871 | 21,848 | ||||||
IMMOFINANZ AG (b) | 34,672 | 162,523 | ||||||
Mayr Melnhof Karton AG | 210 | 26,280 | ||||||
Oesterreichische Post AG | 885 | 44,582 | ||||||
Telekom Austria AG | 9,216 | 91,657 | ||||||
346,890 | ||||||||
BELGIUM — 0.6% | ||||||||
Ackermans & van haaren NV | 699 | 88,401 | ||||||
Bekaert NV | 948 | 38,662 | ||||||
bpost SA | 1,941 | 43,472 | ||||||
Elia System Operator SA/NV | 735 | 37,142 | ||||||
Financiere de Tubize SA | 447 | 30,693 | ||||||
S.A. D’Ieteren NV | 471 | 22,091 | ||||||
Sofina SA | 547 | 66,803 | ||||||
327,264 | ||||||||
BERMUDA — 0.5% | ||||||||
Catlin Group, Ltd. | 10,990 | 98,572 | ||||||
Hiscox Ltd. | 13,611 | 154,754 | ||||||
Lancashire Holdings, Ltd. | 3,929 | 44,804 | ||||||
298,130 | ||||||||
CANADA — 8.6% | ||||||||
Aimia, Inc. | 6,862 | 110,352 | ||||||
Alamos Gold, Inc. | 4,947 | 44,775 | ||||||
AltaGas, Ltd. (a) | 3,093 | 126,943 | ||||||
ATCO, Ltd. (Class I) | 3,278 | 157,730 | ||||||
Athabasca Oil Corp. (a)(b) | 8,813 | 63,557 | ||||||
Boardwalk REIT | 742 | 40,765 | ||||||
Bonavista Energy Corp. (a) | 4,571 | 66,965 | ||||||
CAE, Inc. | 7,199 | 94,900 | ||||||
Calloway REIT | 1,628 | 37,995 | ||||||
Canadian Apartment Properties REIT | 1,700 | 32,837 | ||||||
Canadian REIT | 1,041 | 42,508 | ||||||
Canadian Western Bank (a) | 3,836 | 129,321 | ||||||
Canfor Corp. (b) | 2,308 | 54,576 | ||||||
CCL Industries, Inc. (Class B) | 850 | 72,944 | ||||||
Cineplex, Inc. (a) | 1,824 | 69,523 | ||||||
Cogeco Cable, Inc. | 484 | 25,148 | ||||||
Cominar Real Estate Investment Trust | 1,942 | 32,550 | ||||||
Constellation Software, Inc. | 589 | 143,014 | ||||||
Dundee Real Estate Investment Trust | 1,180 | 31,068 | ||||||
E-L Financial Corp. Ltd. | 90 | 59,117 | ||||||
Emera, Inc. | 3,674 | 114,539 | ||||||
Enerplus Corp. (a) | 6,536 | 130,868 | ||||||
Ensign Energy Services, Inc. | 3,012 | 44,590 | ||||||
Finning International, Inc. | 6,440 | 182,625 | ||||||
First Capital Realty, Inc. (a) | 2,669 | 42,438 | ||||||
Genworth MI Canada, Inc. | 732 | 25,016 | ||||||
Gibson Energy, Inc. (a) | 3,973 | 103,199 | ||||||
Home Capital Group, Inc. (a) | 1,700 | 68,770 | ||||||
IAMGOLD Corp. | 12,915 | 45,517 | ||||||
Industrial Alliance Insurance & Financial Services, Inc. | 2,873 | 118,330 | ||||||
InterOil Corp. (a)(b) | 1,093 | 70,783 | ||||||
Keyera Corp. (a) | 3,396 | 215,652 | ||||||
Linamar Corp. | 1,582 | 73,098 | ||||||
Lions Gate Entertainment Corp. (a) | 2,550 | 68,162 | ||||||
Lundin Mining Corp. (b) | 18,676 | 85,956 | ||||||
MacDonald, Dettwiler & Associates, Ltd. | 974 | 77,055 | ||||||
Methanex Corp. | 2,893 | 185,414 | ||||||
Mullen Group, Ltd. (a) | 2,308 | 58,027 | ||||||
New Gold, Inc. (b) | 14,764 | 73,168 | ||||||
Open Text Corp. (a) | 3,644 | 174,384 | ||||||
Osisko Mining Corp. (b) | 13,794 | 85,982 | ||||||
Paramount Resources, Ltd. (Class A) (b) | 974 | 42,084 | ||||||
Pengrowth Energy Corp. (a) | 12,104 | 73,364 |
See accompanying notes to financial statements.
227
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Peyto Exploration & Development Corp. (a) | 5,612 | $ | 191,787 | |||||
Precision Drilling Corp. | 12,913 | 154,898 | ||||||
Progressive Waste Solutions, Ltd. (a) | 4,962 | 125,786 | ||||||
Quebecor, Inc. (Class B) (a) | 2,665 | 65,191 | ||||||
Ritchie Bros Auctioneers, Inc. (a) | 2,228 | 53,936 | ||||||
ShawCor, Ltd. (Class A) | 1,444 | 60,311 | ||||||
Stantec, Inc. | 1,336 | 81,788 | ||||||
Tahoe Resources, Inc. (b) | 1,964 | 41,584 | ||||||
The Jean Coutu Group Pjc, Inc. | 3,258 | 64,496 | ||||||
TMX Group, Ltd. | 479 | 23,426 | ||||||
TransAlta Corp. (a) | 7,748 | 90,133 | ||||||
Trilogy Energy Corp. (a) | 1,779 | 43,695 | ||||||
Veresen, Inc. (a) | 9,432 | 142,537 | ||||||
West Fraser Timber Co., Ltd. | 2,052 | 93,885 | ||||||
4,829,062 | ||||||||
DENMARK — 2.3% | ||||||||
Chr Hansen Holding A/S | 3,087 | 122,523 | ||||||
DSV A/S | 6,745 | 217,777 | ||||||
FLSmidth & Co. A/S (a) | 1,554 | 78,431 | ||||||
GN Store Nord A/S | 5,683 | 141,105 | ||||||
H. Lundbeck A/S (a) | 1,768 | 54,505 | ||||||
Jyske Bank A/S (b) | 1,730 | 95,107 | ||||||
Pandora A/S | 2,501 | 165,518 | ||||||
Topdanmark A/S (b) | 2,385 | 69,476 | ||||||
Vestas Wind Systems A/S (b) | 6,485 | 260,741 | ||||||
William Demant Holding (a)(b) | 723 | 61,876 | ||||||
1,267,059 | ||||||||
FINLAND — 1.7% | ||||||||
Amer Sports Oyj (Class A) | 3,177 | 67,519 | ||||||
Cargotec Oyj (a) | 1,118 | 48,153 | ||||||
Elisa Oyj (a) | 7,225 | 208,020 | ||||||
Huhtamaki OYJ | 2,273 | 62,342 | ||||||
Kemira Oyj | 1,530 | 22,310 | ||||||
Kesko Oyj (Class B) | 2,124 | 92,711 | ||||||
Neste Oil Oyj (a) | 3,970 | 80,980 | ||||||
Orion Oyj (Class B) (a) | 5,221 | 157,661 | ||||||
Outotec Oyj (a) | 4,128 | 45,743 | ||||||
Stora Enso Oyj | 14,963 | 160,136 | ||||||
945,575 | ||||||||
FRANCE — 3.5% | ||||||||
Air France-KLM (b) | 3,580 | 53,831 | ||||||
bioMerieux | 440 | 48,284 | ||||||
Bourbon SA (a) | 1,212 | 39,840 | ||||||
CGG (a)(b) | 4,764 | 76,428 | ||||||
Eramet | 301 | 36,237 | ||||||
Eurazeo | 817 | 73,440 | ||||||
Faurecia (b) | 1,457 | 61,609 | ||||||
Fonciere Des Regions | 1,422 | 131,782 | ||||||
Groupe Eurotunnel SA | 17,216 | 219,887 | ||||||
Havas SA | 7,888 | 59,076 | ||||||
Ingenico (a) | 1,550 | 145,033 | ||||||
Ipsen SA | 1,628 | 66,685 | ||||||
Lagardere SCA | 4,047 | 160,751 | ||||||
Metropole Television SA | 2,102 | 45,745 | ||||||
Neopost SA (a) | 1,076 | 85,005 | ||||||
Nexity | 1,050 | 45,050 | ||||||
Orpea | 1,315 | 87,267 | ||||||
Plastic Omnium SA | 1,888 | 70,102 | ||||||
Rubis | 1,190 | 85,696 | ||||||
Sa des Ciments Vicat | 539 | 45,442 | ||||||
Sartorius Stedim Biotech | 146 | 29,308 | ||||||
Schneider Electric SA | 563 | 49,933 | ||||||
SEB SA | 901 | 77,787 | ||||||
Societe Television Francaise 1 | 3,526 | 58,317 | ||||||
Teleperformance | 1,868 | 108,351 | ||||||
Vilmorin & Cie | 165 | 23,150 | ||||||
1,984,036 | ||||||||
GERMANY — 4.1% | ||||||||
Aurubis AG | 818 | 44,448 | ||||||
Axel Springer SE (a) | 987 | 63,194 | ||||||
Bilfinger SE | 1,850 | 234,808 | ||||||
Carl Zeiss Meditec AG | 822 | 23,089 | ||||||
Celesio AG | 2,498 | 85,417 | ||||||
CTS Eventim AG | 813 | 54,233 | ||||||
Deutsche Euroshop AG | 874 | 39,769 | ||||||
Deutsche Wohnen AG (c) | 4,801 | 102,960 | ||||||
Deutsche Wohnen AG (b)(c) | 2,815 | 58,817 | ||||||
Duerr AG | 792 | 61,128 | ||||||
ElringKlinger AG | 852 | 33,596 | ||||||
Fielmann AG | 258 | 34,680 | ||||||
Freenet AG | 4,300 | 150,443 | ||||||
Gerry Weber International AG (a) | 670 | 33,142 | ||||||
K+S AG | 5,258 | 172,801 | ||||||
KION Group AG (b) | 579 | 27,156 | ||||||
Krones AG | 412 | 39,363 | ||||||
KWS Saat AG | 66 | 23,915 | ||||||
LEG Immobilien AG (b) | 477 | 31,300 | ||||||
MTU Aero Engines AG | 1,594 | 148,205 | ||||||
OSRAM Licht AG (b) | 2,555 | 165,736 | ||||||
Puma AG Rudolf Dassler Sport (a) | 74 | 20,832 | ||||||
Rational AG | 76 | 27,077 | ||||||
Rhoen-Klinikum AG | 3,832 | 122,794 | ||||||
Salzgitter AG (a) | 1,142 | 45,157 | ||||||
SGL Carbon AG | 1,218 | 41,456 | ||||||
Software AG | 1,705 | 61,779 | ||||||
Stada Arzneimittel AG | 2,070 | 88,628 | ||||||
TUI AG (a) | 3,996 | 66,641 | ||||||
Wincor Nixdorf AG | 995 | 71,516 | ||||||
Wirecard AG | 3,594 | 149,197 | ||||||
2,323,277 | ||||||||
GREECE — 0.5% | ||||||||
Hellenic Telecommunications Organization SA (b) | 7,273 | 120,288 | ||||||
OPAP SA | 7,810 | 125,940 | ||||||
Public Power Corp. SA | 3,245 | 53,669 | ||||||
299,897 | ||||||||
HONG KONG — 2.8% | ||||||||
ASM Pacific Technology, Ltd. (a) | 6,200 | 60,185 | ||||||
Champion REIT | 96,000 | 43,810 | ||||||
Chinese Estates Holdings, Ltd. | 22,623 | 55,412 | ||||||
Esprit Holdings, Ltd. (a) | 67,916 | 112,945 | ||||||
First Pacific Co., Ltd. | 76,500 | 76,036 | ||||||
Fosun International, Ltd. | 70,000 | 87,985 |
See accompanying notes to financial statements.
228
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Genting Hong Kong Ltd. (a)(b) | 54,684 | $ | 21,327 | |||||
Great Eagle Holdings Ltd. | 5,000 | 18,789 | ||||||
Hopewell Holdings | 32,500 | 111,657 | ||||||
Hysan Development Co., Ltd. | 31,827 | 138,476 | ||||||
Melco International Development, Ltd. | 25,000 | 83,795 | ||||||
New World China Land Ltd. (a) | 66,000 | 55,645 | ||||||
Noble Group, Ltd. | 131,000 | 123,442 | ||||||
Orient Overseas International, Ltd. | 3,000 | 13,787 | ||||||
PCCW, Ltd. | 140,000 | 70,207 | ||||||
SA SA International Holdings Ltd. (a) | 24,000 | 19,244 | ||||||
Shangri-La Asia, Ltd. | 46,000 | 75,312 | ||||||
Techtronic Industries Co. | 40,500 | 112,775 | ||||||
Television Broadcasts, Ltd. | 9,400 | 56,288 | ||||||
VTech Holdings, Ltd. | 3,300 | 42,414 | ||||||
Wing Hang Bank, Ltd. | 4,177 | 66,233 | ||||||
Yue Yuen Industrial Holdings, Ltd. | 30,000 | 97,653 | ||||||
1,543,417 | ||||||||
IRELAND — 1.6% | ||||||||
DCC PLC | 2,412 | 131,090 | ||||||
Dragon Oil PLC | 11,520 | 105,426 | ||||||
Glanbia PLC | 4,105 | 63,027 | ||||||
ICON PLC (b) | 1,663 | 79,076 | ||||||
James Hardie Industries PLC | 13,412 | 178,135 | ||||||
Kingspan Group PLC | 3,352 | 63,801 | ||||||
Paddy Power PLC | 1,546 | 122,519 | ||||||
Smurfit Kappa Group PLC | 6,664 | 161,650 | ||||||
904,724 | ||||||||
ISRAEL — 1.2% | ||||||||
Azrieli Group | 737 | 25,762 | ||||||
Bank Leumi Le-Israel BM (b) | 38,888 | 151,534 | ||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 59,169 | 105,296 | ||||||
Delek Group, Ltd. | 127 | 50,689 | ||||||
Gazit-Globe, Ltd. | 2,366 | 30,506 | ||||||
Mellanox Technologies, Ltd. (a)(b) | 685 | 26,804 | ||||||
Mizrahi Tefahot Bank, Ltd. | 3,057 | 41,754 | ||||||
NICE Systems, Ltd. | 2,119 | 93,803 | ||||||
Osem Investments, Ltd. | 1,934 | 45,394 | ||||||
Taro Pharmaceutical Industries, Ltd. (b) | 536 | 59,496 | ||||||
The Israel Corp., Ltd. (b) | 78 | 43,490 | ||||||
674,528 | ||||||||
ITALY — 3.2% | ||||||||
A2A SpA | 35,298 | 45,779 | ||||||
Atlantia SpA | 1,073 | 27,581 | ||||||
Autogrill SpA (a)(b) | 3,092 | 31,685 | ||||||
Azimut Holding SpA | 2,881 | 102,842 | ||||||
Banca Generali SpA | 1,530 | 50,504 | ||||||
Banca Monte dei Paschi di Siena SpA (b) | 174,885 | 63,874 | ||||||
Banca Popolare dell’Emilia Romagna Societa Cooperativa (b) | 8,835 | 111,418 | ||||||
Banco Popolare Societa Cooperativa (a)(b) | 5,493 | 119,466 | ||||||
Buzzi Unicem SpA | 3,592 | 37,774 | ||||||
Davide Campari-Milano SpA | 9,398 | 77,069 | ||||||
De’Longhi SpA | 1,448 | 32,630 | ||||||
DiaSorin SpA | 638 | 27,391 | ||||||
Finmeccanica SpA (b) | 13,175 | 130,105 | ||||||
Gtech Spa | 2,132 | 64,792 | ||||||
Hera SpA | 12,084 | 35,308 | ||||||
Mediaset SpA (b) | 24,144 | 135,036 | ||||||
Prysmian SpA | 6,623 | 164,854 | ||||||
Recordati SpA | 4,046 | 70,820 | ||||||
UBI Banca ScPA | 29,284 | 276,067 | ||||||
Unipol Gruppo Finanziario SpA | 9,825 | 76,779 | ||||||
UnipolSai SpA (b) | 23,987 | 92,172 | ||||||
World Duty Free SpA (b) | 2,706 | 37,967 | ||||||
1,811,913 | ||||||||
JAPAN — 27.3% | ||||||||
Acom Co., Ltd. (a)(b) | 10,200 | 32,684 | ||||||
Advance Residence Investment Corp. | 61 | 130,192 | ||||||
Advantest Corp. (a) | 6,300 | 68,331 | ||||||
Alfresa Holdings Corp. | 2,000 | 130,699 | ||||||
Amada Co., Ltd. | 34,000 | 239,685 | ||||||
Aozora Bank, Ltd. | 34,000 | 97,063 | ||||||
Asics Corp. | 8,100 | 159,585 | ||||||
Benesse Holdings, Inc. | 3,400 | 130,242 | ||||||
Brother Industries, Ltd. | 7,600 | 106,489 | ||||||
Canon Marketing Japan, Inc. | 3,400 | 46,782 | ||||||
Casio Computer Co., Ltd. | 6,800 | 80,621 | ||||||
Credit Saison Co., Ltd. | 4,100 | 81,733 | ||||||
Daicel Corp. | 34,000 | 279,303 | ||||||
Daido Steel Co., Ltd. (a) | 34,000 | 170,355 | ||||||
DeNA Co., Ltd. (a) | 3,400 | 61,539 | ||||||
Don Quijote Holdings Co., Ltd. | 3,400 | 175,967 | ||||||
Dowa Holdings Co., Ltd. (a) | 34,000 | 284,585 | ||||||
Ebara Corp. (a) | 34,000 | 213,604 | ||||||
FamilyMart Co., Ltd. (a) | 3,400 | 149,721 | ||||||
Fuji Electric Holdings Co., Ltd. | 34,000 | 152,197 | ||||||
Fuji Television Network, Inc. | 3,400 | 62,563 | ||||||
Fukuoka Financial Group, Inc. | 34,000 | 139,982 | ||||||
Hakuhodo DY Holdings, Inc. | 6,800 | 47,541 | ||||||
Hamamatsu Photonics K.K. | 3,400 | 153,518 | ||||||
Hitachi Capital Corp. | 3,400 | 72,896 | ||||||
Hitachi Construction Machinery Co., Ltd. (a) | 3,400 | 65,633 | ||||||
Hokkaido Electric Power Co., Inc. (b) | 6,300 | 53,344 | ||||||
Hokuhoku Financial Group, Inc. | 34,000 | 65,369 | ||||||
Hokuriku Electric Power Co. | 6,500 | 84,512 | ||||||
Ibiden Co., Ltd. | 3,400 | 67,152 | ||||||
Idemitsu Kosan Co., Ltd. (a) | 13,600 | 279,831 | ||||||
J Front Retailing Co., Ltd. | 34,000 | 234,403 | ||||||
Japan Exchange Group, Inc. (a) | 4,200 | 102,691 | ||||||
Japan Prime Realty Investment Corp. | 34 | 110,268 | ||||||
Japan Retail Fund Investment Corp. | 81 | 159,821 | ||||||
JSR Corp. (a) | 6,400 | 118,883 | ||||||
JTEKT Corp. | 7,400 | 110,226 | ||||||
Kajima Corp. (a) | 34,000 | 119,513 | ||||||
Kakaku.com, Inc. (a) | 4,200 | 68,474 | ||||||
Keihan Electric Railway Co., Ltd. (a) | 34,000 | 136,020 | ||||||
Kewpie Corp. | 3,400 | 46,914 | ||||||
Konami Corp. (a) | 4,500 | 104,214 | ||||||
Konica Minolta Holdings, Inc. | 17,000 | 158,965 | ||||||
Kuraray Co., Ltd. (a) | 10,600 | 121,455 | ||||||
Kurita Water Industries, Ltd. (a) | 6,300 | 136,968 | ||||||
M3, Inc. | 6,800 | 111,853 |
See accompanying notes to financial statements.
229
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Marui Group Co., Ltd. | 30,900 | $ | 265,539 | |||||
Medipal Holdings Corp. | 13,500 | 206,855 | ||||||
MEIJI Holdings Co., Ltd. (a) | 3,400 | 214,925 | ||||||
Miraca Holdings, Inc. | 3,400 | 149,226 | ||||||
MISUMI Group, Inc. (a) | 3,400 | 94,422 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 34,000 | 192,144 | ||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 17,800 | 87,457 | ||||||
Mitsui Chemicals, Inc. (a) | 34,000 | 83,527 | ||||||
Mitsui OSK Lines, Ltd. | 34,000 | 132,718 | ||||||
Nabtesco Corp. | 3,400 | 78,376 | ||||||
Nagoya Railroad Co., Ltd. | 34,000 | 102,345 | ||||||
Namco Bandai Holdings, Inc. | 12,800 | 303,640 | ||||||
Nankai Electric Railway Co., Ltd. (a) | 34,000 | 132,058 | ||||||
NHK Spring Co., Ltd. | 7,400 | 68,765 | ||||||
Nippon Electric Glass Co., Ltd. (a) | 34,000 | 175,307 | ||||||
Nippon Express Co., Ltd. | 34,000 | 166,723 | ||||||
Nippon Yusen K.K. (a) | 39,000 | 113,609 | ||||||
Nissan Chemical Industries, Ltd. | 5,500 | 82,726 | ||||||
Nisshin Seifun Group, Inc. (a) | 19,000 | 209,215 | ||||||
Nissin Foods Holding Co., Ltd. | 3,400 | 153,683 | ||||||
NOK Corp. | 3,400 | 55,629 | ||||||
Nomura Real Estate Holdings, Inc. | 3,400 | 65,039 | ||||||
NTT Urban Development Corp. | 3,400 | 32,090 | ||||||
Obayashi Corp. | 34,000 | 192,144 | ||||||
Obic Co., Ltd. | 3,400 | 107,627 | ||||||
OJI Paper Co., Ltd. | 34,000 | 152,527 | ||||||
Park24 Co., Ltd. | 3,400 | 64,774 | ||||||
Rinnai Corp. | 3,400 | 299,442 | ||||||
Rohm Co., Ltd. | 3,400 | 152,032 | ||||||
Sankyo Co., Ltd. | 3,400 | 143,448 | ||||||
Sanrio Co., Ltd. (a) | 3,400 | 114,891 | ||||||
Santen Pharmaceutical Co., Ltd. | 3,400 | 151,206 | ||||||
SBI Holdings, Inc. | 6,800 | 82,140 | ||||||
Seiko Epson Corp. | 4,600 | 143,380 | ||||||
Seven Bank, Ltd. | 17,700 | 69,607 | ||||||
Sharp Corp. (a)(b) | 34,000 | 103,666 | ||||||
Shikoku Electric Power Co., Inc. (a)(b) | 6,500 | 88,362 | ||||||
Shimadzu Corp. | 34,000 | 302,743 | ||||||
Shimizu Corp. (a) | 38,000 | 197,407 | ||||||
Showa Shell Sekiyu K.K. | 6,100 | 54,612 | ||||||
Sojitz Corp. | 40,100 | 68,530 | ||||||
Stanley Electric Co., Ltd. | 10,300 | 229,133 | ||||||
Sumitomo Heavy Industries, Ltd. | 34,000 | 138,331 | ||||||
Sumitomo Rubber Industries, Inc. | 4,400 | 56,140 | ||||||
Suzuken Co., Ltd. | 3,400 | 131,893 | ||||||
Taiheiyo Cement Corp. (a) | 34,000 | 122,814 | ||||||
Taisei Corp. (a) | 34,000 | 152,197 | ||||||
Taiyo Nippon Sanso Corp. (a) | 34,000 | 268,078 | ||||||
Takashimaya Co., Ltd. (a) | 34,000 | 319,581 | ||||||
The Bank of Kyoto, Ltd. (a) | 34,000 | 281,284 | ||||||
The Hachijuni Bank, Ltd. | 37,000 | 210,895 | ||||||
The Hiroshima Bank, Ltd. | 34,000 | 142,293 | ||||||
The Joyo Bank, Ltd. | 34,000 | 170,025 | ||||||
THK Co., Ltd. | 3,800 | 85,494 | ||||||
Toho Co., Ltd. | 3,500 | 70,316 | ||||||
Toho Gas Co., Ltd. (a) | 34,000 | 185,542 | ||||||
Tokyo Tatemono Co., Ltd. (a) | 34,000 | 292,178 | ||||||
Toyo Seikan Group Holdings, Ltd. | 4,500 | 73,234 | ||||||
Toyota Boshoku Corp. (a) | 3,400 | 34,434 | ||||||
Trend Micro, Inc. | 3,400 | 105,481 | ||||||
Tsumura & Co. (a) | 3,400 | 81,876 | ||||||
Ube Industries, Ltd. | 34,000 | 62,728 | ||||||
United Urban Investment Corp. | 105 | 154,566 | ||||||
USS Co., Ltd. | 3,400 | 47,838 | ||||||
Yamada Denki Co., Ltd. (a) | 30,400 | 101,545 | ||||||
Yamaha Corp. | 13,500 | 174,215 | ||||||
Yamaha Motor Co., Ltd. | 9,700 | 154,940 | ||||||
Yokogawa Electric Corp. | 5,800 | 93,884 | ||||||
15,319,877 | ||||||||
LUXEMBOURG — 0.3% | ||||||||
Eurofins Scientific (a) | 259 | 77,551 | ||||||
GAGFAH SA (b) | 2,678 | 40,674 | ||||||
L’Occitane International SA | 11,000 | 27,114 | ||||||
145,339 | ||||||||
NETHERLANDS — 1.9% | ||||||||
Aalberts Industries NV | 2,630 | 91,707 | ||||||
Corio NV | 3,031 | 138,567 | ||||||
Delta Lloyd NV | 5,020 | 139,241 | ||||||
Koninklijke Boskalis Westminster NV | 3,311 | 182,398 | ||||||
Nutreco NV | 2,352 | 104,543 | ||||||
QIAGEN NV (b) | 7,289 | 152,801 | ||||||
SBM Offshore NV (b) | 6,778 | 123,452 | ||||||
TNT Express NV | 10,416 | 102,343 | ||||||
1,035,052 | ||||||||
NEW ZEALAND — 0.9% | ||||||||
Auckland International Airport, Ltd. (b) | 24,559 | 81,195 | ||||||
Contact Energy, Ltd. | 14,231 | 65,696 | ||||||
Fletcher Building, Ltd. | 23,593 | 194,901 | ||||||
Mighty River Power, Ltd. | 12,391 | 23,548 | ||||||
Ryman Healthcare, Ltd. | 11,906 | 90,400 | ||||||
Telecom Corporation of New Zealand, Ltd. (a) | 23,869 | 50,538 | ||||||
506,278 | ||||||||
NORWAY — 1.3% | ||||||||
Aker ASA | 665 | 21,493 | ||||||
Aker Solutions ASA | 4,724 | 73,578 | ||||||
DNO International ASA (b) | 15,923 | 60,771 | ||||||
Fred Olsen Energy ASA | 975 | 32,570 | ||||||
Golar LNG, Ltd. (a) | 1,320 | 55,031 | ||||||
Kongsberg Gruppen AS | 1,216 | 27,724 | ||||||
Marine Harvest | 8,314 | 94,151 | ||||||
Petroleum Geo-Services ASA | 6,746 | 82,141 | ||||||
ProSafe SE | 7,360 | 58,983 | ||||||
SpareBank 1 SR Bank ASA | 3,309 | 33,576 | ||||||
Storebrand ASA (b) | 9,101 | 52,520 | ||||||
TGS Nopec Geophysical Co. ASA (a) | 3,532 | 115,805 | ||||||
708,343 | ||||||||
PORTUGAL — 0.8% | ||||||||
Banco Comercial Portugues SA (b) | 506,141 | 158,352 | ||||||
Banco Espirito Santo SA (b) | 73,186 | 137,080 | ||||||
Portucel SA | 7,249 | 33,000 | ||||||
Portugal Telecom SGPS SA (a) | 18,000 | 76,584 | ||||||
Sonae | 30,411 | 57,171 | ||||||
462,187 | ||||||||
See accompanying notes to financial statements.
230
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
SINGAPORE — 1.5% | ||||||||
Ascendas REIT | 60,000 | $ | 107,829 | |||||
Blumont Group Ltd. (a)(b) | 44,000 | 2,099 | ||||||
CapitaCommercial Trust (a) | 42,000 | 49,596 | ||||||
ComfortDelGro Corp., Ltd. | 79,000 | 124,699 | ||||||
First Resources Ltd. | 23,000 | 42,797 | ||||||
Keppel Land, Ltd. | 30,096 | 80,412 | ||||||
M1, Ltd. (a) | 7,000 | 19,315 | ||||||
Mapletree Logistics Trust | 43,252 | 35,942 | ||||||
Neptune Orient Lines, Ltd. (b) | 43,000 | 34,023 | ||||||
Olam International, Ltd. (a) | 43,736 | 77,209 | ||||||
SATS Ltd. (a) | 24,000 | 58,018 | ||||||
SIA Engineering Co., Ltd. | 5,000 | 19,244 | ||||||
Suntec REIT | 66,000 | 87,122 | ||||||
UOL Group, Ltd. | 24,000 | 119,470 | ||||||
857,775 | ||||||||
SOUTH KOREA — 5.3% | ||||||||
Amorepacific Corp. | 88 | 104,166 | ||||||
AMOREPACIFIC Group | 67 | 32,227 | ||||||
BS Financial Group, Inc. | 6,310 | 89,216 | ||||||
Cheil Communications, Inc. (b) | 2,430 | 54,675 | ||||||
Cheil Industries, Inc. | 2,123 | 143,003 | ||||||
CJ CheilJedang Corp. | 164 | 44,218 | ||||||
CJ Corp. | 701 | 89,564 | ||||||
Coway Co., Ltd. | 1,573 | 110,388 | ||||||
Daelim Industrial Co., Ltd. | 1,052 | 85,686 | ||||||
Daewoo Engineering & Construction Co., Ltd. (b) | 5,812 | 43,408 | ||||||
Daewoo International Corp. | 1,759 | 63,952 | ||||||
Daewoo Securities Co., Ltd. (b) | 8,139 | 62,699 | ||||||
Dongbu Insurance Co., Ltd. | 1,832 | 95,003 | ||||||
Doosan Corp. | 701 | 91,210 | ||||||
Doosan Heavy Industries & Construction Co. Ltd. | 680 | 22,455 | ||||||
Doosan Infracore Co., Ltd. (b) | 3,490 | 44,918 | ||||||
GS Holdings | 2,571 | 116,419 | ||||||
Halla Visteon Climate Control Corp. | 900 | 41,092 | ||||||
Hanwha Chemical Corp. | 2,630 | 47,809 | ||||||
Hanwha Corp. | 2,828 | 85,282 | ||||||
Hotel Shilla Co., Ltd. | 912 | 73,769 | ||||||
Hyosung Corp. | 570 | 41,125 | ||||||
Hyundai Department Store Co., Ltd. | 360 | 48,025 | ||||||
Hyundai Hysco Co., Ltd. | 176 | 9,094 | ||||||
Hyundai Marine & Fire Insurance Co., Ltd. | 1,690 | 48,742 | ||||||
Hyundai Merchant Marine Co., Ltd. (a)(b) | 3,348 | 32,396 | ||||||
Hyundai Mipo Dockyard Co., Ltd. | 397 | 57,809 | ||||||
Hyundai Steel Co. | 241 | 15,577 | ||||||
Hyundai Wia Corp. | 368 | 59,118 | ||||||
Kangwon Land, Inc. | 2,980 | 86,787 | ||||||
KCC Corp. | 209 | 107,008 | ||||||
Korea Aerospace Industries Ltd. | 900 | 28,705 | ||||||
Korea Gas Corp. (b) | 813 | 47,507 | ||||||
Korea Kumho Petrochemical Co., Ltd. | 659 | 54,357 | ||||||
NCSoft Corp. | 396 | 81,101 | ||||||
NHN Entertainment Corp. (b) | 336 | 30,303 | ||||||
OCI Co., Ltd. (b) | 445 | 74,205 | ||||||
ORION Corp. | 116 | 89,252 | ||||||
S1 Corp. | 751 | 62,792 | ||||||
Samsung Card Co., Ltd. | 1,120 | 36,458 | ||||||
Samsung Engineering Co., Ltd. (b) | 782 | 52,674 | ||||||
Samsung Securities Co., Ltd. | 2,300 | 84,377 | ||||||
Samsung Techwin Co., Ltd. | 1,579 | 85,889 | ||||||
Seoul Semiconductor Co., Ltd. | 993 | 42,259 | ||||||
SK C&C Co., Ltd. | 552 | 77,527 | ||||||
Woori Investment & Securities Co., Ltd. | 3,790 | 31,439 | ||||||
Young Poong Corp. | 24 | 26,605 | ||||||
2,952,290 | ||||||||
SPAIN — 1.7% | ||||||||
Acciona SA | 803 | 69,547 | ||||||
Acerinox SA (a) | 4,063 | 65,294 | ||||||
Almirall SA | 1,899 | 32,428 | ||||||
Atresmedia Corp. de Medios de Comunicaion SA (b) | 2,569 | 39,550 | ||||||
Bankinter SA | 13,656 | 109,917 | ||||||
Bolsas y Mercados Espanoles | 1,683 | 68,509 | ||||||
Corporacion Financiera Alba SA | 434 | 25,912 | ||||||
Ebro Puleva SA (a) | 3,099 | 71,713 | ||||||
EDP Renovaveis SA | 6,593 | 43,926 | ||||||
Fomento de Construcciones y Contratas SA (b) | 1,143 | 26,048 | ||||||
Gestevision Telecinco SA (a)(b) | 6,290 | 73,298 | ||||||
Grupo Catalana Occidente SA | 1,396 | 56,740 | ||||||
Indra Sistemas SA (a) | 3,417 | 68,688 | ||||||
Obrascon Huarte Lain SA | 1,299 | 56,485 | ||||||
Prosegur Cia de Seguridad SA (a) | 6,481 | 41,715 | ||||||
Tecnicas Reunidas SA (a) | 769 | 43,460 | ||||||
Viscofan SA (a) | 1,561 | 81,680 | ||||||
974,910 | ||||||||
SWEDEN — 2.7% | ||||||||
AarhusKarlshamn AB | 780 | 51,129 | ||||||
Axfood AB (a) | 472 | 26,062 | ||||||
Boliden AB | 7,686 | 116,650 | ||||||
Castellum AB | 8,217 | 136,368 | ||||||
Great Portland Estates PLC | 10,137 | 106,638 | ||||||
Hexpol AB | 792 | 69,690 | ||||||
Hufvudstaden AB (a) | 3,650 | 51,399 | ||||||
Husqvarna AB (Class B) | 10,546 | 73,521 | ||||||
Intrum Justitia AB | 2,503 | 68,177 | ||||||
JM AB | 2,511 | 82,260 | ||||||
Lundbergforetagen AB | 982 | 46,362 | ||||||
Meda AB (Class A) | 8,254 | 126,607 | ||||||
Melker Schorling AB | 543 | 28,291 | ||||||
Modern Times Group AB (Class B) | 2,347 | 109,394 | ||||||
Ratos AB (Class B) (a) | 4,551 | 42,116 | ||||||
Saab AB | 1,724 | 52,543 | ||||||
Securitas AB (Class B) | 9,185 | 106,179 | ||||||
SSAB AB (a) | 977 | 6,541 | ||||||
SSAB AB, (Series A) (a) | 8,011 | 61,730 | ||||||
Trelleborg AB (Class B) | 7,182 | 144,669 | ||||||
Wallenstam AB | 1,959 | 32,058 | ||||||
1,538,384 | ||||||||
SWITZERLAND — 3.1% | ||||||||
Allreal Holding AG (b) | 163 | 23,527 | ||||||
Banque Cantonale Vaudoise | 135 | 78,782 |
See accompanying notes to financial statements.
231
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Barry Callebaut AG (b) | 42 | $ | 56,675 | |||||
Basellandschaftliche Kantonalbank | 24 | 25,349 | ||||||
Berner Kantonalbank AG | 100 | 24,339 | ||||||
Bucher Industries AG | 196 | 66,565 | ||||||
Daetwyler Holding AG | 179 | 28,167 | ||||||
Dufry Group (b) | 650 | 111,847 | ||||||
EFG International AG (b) | 1,514 | 19,710 | ||||||
Flughafen Zuerich AG | 297 | 191,141 | ||||||
GAM Holding AG (b) | 6,676 | 120,544 | ||||||
Georg Fischer AG (b) | 113 | 87,691 | ||||||
Helvetia Holding AG | 132 | 67,655 | ||||||
Lonza Group AG (b) | 1,637 | 167,063 | ||||||
Luzerner Kantonalbank AG | 59 | 24,162 | ||||||
OC Oerlikon Corp. AG (b) | 4,037 | 68,094 | ||||||
Panalpina Welttransport Holding AG | 554 | 85,168 | ||||||
PSP Swiss Property AG (b) | 1,143 | 107,526 | ||||||
St Galler Kantonalbank AG | 58 | 24,130 | ||||||
Straumann Holding AG | 243 | 51,689 | ||||||
Sulzer AG | 736 | 101,233 | ||||||
Swiss Prime Site AG (b) | 1,864 | 158,578 | ||||||
Vontobel Holding AG | 577 | 22,829 | ||||||
1,712,464 | ||||||||
UNITED KINGDOM — 14.1% | ||||||||
Afren PLC (b) | 26,243 | 61,776 | ||||||
Amlin PLC | 17,090 | 137,985 | ||||||
Ashmore Group PLC (a) | 10,211 | 56,500 | ||||||
Aveva Group PLC | 1,936 | 67,586 | ||||||
Balfour Beatty PLC | 21,274 | 106,259 | ||||||
Barratt Developments PLC | 30,170 | 207,479 | ||||||
BBA Aviation PLC | 14,631 | 80,933 | ||||||
Bellway PLC | 3,597 | 99,546 | ||||||
Berendsen PLC | 4,808 | 89,615 | ||||||
Berkeley Group Holdings PLC | 4,825 | 210,753 | ||||||
Booker Group PLC | 44,990 | 123,833 | ||||||
Britvic PLC | 7,434 | 91,960 | ||||||
BTG PLC (b) | 13,218 | 119,547 | ||||||
Cairn Energy PLC (b) | 14,494 | 40,329 | ||||||
Capital & Counties Properties PLC | 20,039 | 116,928 | ||||||
Carphone Warehouse Group PLC | 9,567 | 51,820 | ||||||
Close Brothers Group PLC | 3,194 | 75,187 | ||||||
Daily Mail & General Trust PLC (a) | 8,770 | 127,056 | ||||||
Debenhams PLC | 18,678 | 24,896 | ||||||
Derwent London PLC | 2,739 | 123,747 | ||||||
Direct Line Insurance Group PLC | 16,268 | 64,413 | ||||||
Dixons Retail PLC (b) | 101,600 | 83,336 | ||||||
Drax Group PLC | 12,414 | 158,531 | ||||||
DS Smith PLC | 27,435 | 148,421 | ||||||
Dunelm Group PLC | 2,320 | 36,570 | ||||||
Essentra PLC | 6,550 | 95,276 | ||||||
Euromoney Institutional Investor PLC | 1,186 | 23,687 | ||||||
FirstGroup PLC (b) | 34,763 | 84,557 | ||||||
Genel Energy PLC (b) | 4,096 | 67,057 | ||||||
Greene King PLC | 6,008 | 90,447 | ||||||
Halma PLC | 9,116 | 87,539 | ||||||
Hays PLC | 37,206 | 89,941 | ||||||
Henderson Group PLC | 31,683 | 139,076 | ||||||
Hikma Pharmaceuticals PLC | 4,268 | 118,187 | ||||||
Howden Joinery Group PLC | 19,214 | 119,193 | ||||||
ICAP PLC | 16,464 | 103,643 | ||||||
IG Group Holdings PLC | 9,748 | 101,977 | ||||||
Inchcape PLC | 15,863 | 170,841 | ||||||
Informa PLC | 25,141 | 221,515 | ||||||
Inmarsat PLC | 16,481 | 199,615 | ||||||
Intermediate Capital Group PLC | 10,150 | 70,005 | ||||||
International Personal Finance PLC | 6,596 | 56,302 | ||||||
Intu Properties PLC | 18,880 | 88,762 | ||||||
Investec PLC | 15,826 | 127,911 | ||||||
Jardine Lloyd Thompson Group PLC | 4,062 | 72,054 | ||||||
Jazztel PLC (b) | 6,019 | 91,584 | ||||||
John Wood Group PLC | 10,938 | 139,865 | ||||||
Jupiter Fund Management PLC | 10,170 | 67,955 | ||||||
Ladbrokes PLC | 21,914 | 49,321 | ||||||
Lonmin PLC (b) | 11,068 | 52,773 | ||||||
Man Group PLC | 59,645 | 100,630 | ||||||
Michael Page International PLC | 6,949 | 56,859 | ||||||
Millennium & Copthorne Hotels PLC | 3,430 | 32,309 | ||||||
Mitchells & Butlers PLC (b) | 4,453 | 33,838 | ||||||
N Brown Group PLC | 5,252 | 50,040 | ||||||
National Express Group PLC | 8,620 | 40,253 | ||||||
Ocado Group PLC (b) | 16,493 | 126,648 | ||||||
Ophir Energy PLC (b) | 14,895 | 59,597 | ||||||
Partnership Assurance Group plc (b) | 4,525 | 10,448 | ||||||
Pennon Group PLC | 11,239 | 139,123 | ||||||
Perform Group PLC (b) | 3,356 | 13,708 | ||||||
Phoenix Group Holdings | 4,115 | 45,244 | ||||||
Playtech Plc | 5,119 | 57,733 | ||||||
Premier Oil PLC | 13,905 | 68,363 | ||||||
Provident Financial PLC | 6,407 | 211,813 | ||||||
PZ Cussons PLC | 9,828 | 57,707 | ||||||
Regus PLC | 17,773 | 65,305 | ||||||
Rentokil Initial PLC | 49,484 | 101,472 | ||||||
Rightmove PLC | 3,224 | 141,790 | ||||||
Rotork PLC | 2,616 | 115,443 | ||||||
Segro PLC | 21,076 | 116,654 | ||||||
Serco Group PLC | 15,437 | 108,348 | ||||||
Shaftesbury PLC | 6,099 | 66,905 | ||||||
Spectris PLC | 3,625 | 140,086 | ||||||
Spirax-Sarco Engineering PLC | 2,298 | 110,719 | ||||||
St. James’s Place PLC | 11,879 | 163,384 | ||||||
Stagecoach Group PLC | 19,940 | 131,210 | ||||||
TalkTalk Telecom Group PLC | 15,574 | 83,163 | ||||||
Telecity Group PLC | 6,492 | 75,546 | ||||||
Thomas Cook Group PLC (b) | 45,740 | 137,489 | ||||||
United Business Media PLC | 5,906 | 67,151 | ||||||
Vesuvius PLC | 6,698 | 48,630 | ||||||
Victrex PLC | 1,979 | 66,283 | ||||||
7,877,980 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $48,937,909) | 55,457,477 | |||||||
RIGHTS — 0.1% | ||||||||
ITALY — 0.1% | ||||||||
Banco Popolare Societa Cooperativa (expiring 4/17/14) (b) | 5,493 | 46,787 | ||||||
See accompanying notes to financial statements.
232
SPDR S&P International Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
UNITED KINGDOM — 0.0% (d) | ||||||||
Intu Properties PLC (expiring 4/17/14) (b) | 5,394 | $ | 8,543 | |||||
TOTAL RIGHTS — | ||||||||
(Cost $21,824) | 55,330 | |||||||
SHORT TERM INVESTMENTS — 13.5% | ||||||||
UNITED STATES — 13.5% | ||||||||
MONEY MARKET FUNDS — 13.5% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 7,586,827 | 7,586,827 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 9,921 | 9,921 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $7,596,748) | 7,596,748 | |||||||
TOTAL INVESTMENTS — 112.5% | ||||||||
(Cost $56,556,481) | 63,109,555 | |||||||
OTHER ASSETS & LIABILITIES — (12.5)% | (7,029,927 | ) | ||||||
NET ASSETS — 100.0% | $ | 56,079,628 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
REIT = Real Estate Investment Trust
SCA = Societe en Commandite par Actions
See accompanying notes to financial statements.
233
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
BRAZIL — 6.1% | ||||||||
Aliansce Shopping Centers SA | 125,411 | $ | 993,173 | |||||
American Banknote SA | 90,305 | 1,400,698 | ||||||
Arezzo Industria e Comercio SA | 58,493 | 712,855 | ||||||
B2W Cia Digital (a) | 81,597 | 1,001,294 | ||||||
Banco ABC Brasil SA, ADR (a) | 2,181 | 11,869 | ||||||
Banco ABC Brasil SA Preference Shares | 71,743 | 402,193 | ||||||
Brasil Brokers Participacoes SA | 332,855 | 752,298 | ||||||
Brasil Insurance Participacoes e Administracao SA | 86,035 | 435,036 | ||||||
Brazil Pharma SA (a) | 342,800 | 584,879 | ||||||
Centrais Eletricas de Santa Catarina SA Preference Shares | 43,024 | 314,601 | ||||||
Cremer SA | 99,146 | 724,976 | ||||||
Cyrela Commercial Properties SA Empreendimentos e Participacoes | 27,748 | 222,574 | ||||||
Direcional Engenharia SA | 74,245 | 329,356 | ||||||
Eletropaulo Metropolitana SA Preference Shares | 129,687 | 491,391 | ||||||
Equatorial Energia SA | 264,484 | 2,396,941 | ||||||
Eternit SA | 189,299 | 700,486 | ||||||
Even Construtora e Incorporadora SA | 359,195 | 1,209,786 | ||||||
Ez Tec Empreendimentos e Participacoes SA | 139,443 | 1,739,562 | ||||||
Ferbasa-Ferro Ligas DA Bahia Preference Shares | 123,761 | 702,035 | ||||||
Fleury SA | 127,389 | 1,088,438 | ||||||
Gafisa SA | 557,236 | 881,601 | ||||||
Gol Linhas Aereas Inteligentes SA Preference Shares (a) | 124,439 | 603,307 | ||||||
Helbor Empreendimentos SA | 187,096 | 657,510 | ||||||
Iguatemi Empresa de Shopping Centers SA | 113,137 | 1,091,009 | ||||||
International Meal Co. Holdings SA (a) | 102,095 | 779,116 | ||||||
Iochpe-Maxion SA | 108,047 | 1,077,358 | ||||||
JHSF Participacoes SA | 153,287 | 270,367 | ||||||
Log-in Logistica Intermodal SA (a) | 91,692 | 328,734 | ||||||
LPS Brasil Consultoria de I moveis SA | 108,632 | 621,029 | ||||||
Magazine Luiza SA | 96,710 | 277,723 | ||||||
Magnesita Refratarios SA | 353,779 | 787,047 | ||||||
Mahle-Metal Leve SA | 39,940 | 421,260 | ||||||
Marfrig Alimentos SA (a) | 268,558 | 522,477 | ||||||
Mills Estruturas e Servicos de Engenharia SA | 120,746 | 1,498,289 | ||||||
MRV Engenharia e Participacoes SA | 330,975 | 1,186,611 | ||||||
Odontoprev SA | 449,274 | 1,795,901 | ||||||
Paranapanema SA (a) | 241,217 | 394,456 | ||||||
PDG Realty SA Empreendimentos e Participacoes (a) | 1,365,474 | 871,386 | ||||||
QGEP Participacoes SA | 98,274 | 353,638 | ||||||
Qualicorp SA (a) | 247,907 | 2,521,367 | ||||||
Randon SA Implementos e Participacoes Preference Shares | 340,927 | 1,282,726 | ||||||
Restoque Comercio e Confeccoes de Roupas SA | 127,889 | 344,589 | ||||||
Rossi Residencial SA (a) | 390,785 | 313,459 | ||||||
Sao Martinho SA | 95,152 | 1,307,207 | ||||||
Saraiva SA Livreiros Editores Preference Shares | 56,655 | 402,975 | ||||||
SLC Agricola SA | 101,749 | 793,160 | ||||||
Tecnisa SA (a) | 149,182 | 525,591 | ||||||
Tegma Gestao Logistica SA | 28,720 | 242,971 | ||||||
Tempo Participacoes SA | 405,524 | 697,289 | ||||||
Vanguarda Agro SA (a) | 272,892 | 362,808 | ||||||
39,427,402 | ||||||||
CHILE — 1.9% | ||||||||
AFP Habitat SA | 223,583 | 299,605 | ||||||
Almendral SA | 11,682,835 | 1,050,042 | ||||||
Besalco SA | 585,723 | 563,666 | ||||||
Companhia Sudamericana de Vapores SA (a) | 9,032,457 | 440,028 | ||||||
Cruz Blanca Salud SA | 388,222 | 324,258 | ||||||
Empresas La Polar SA (a) | 2,675,051 | 230,717 | ||||||
Inversiones Aguas Metropolitanas SA | 682,717 | 1,103,276 | ||||||
Inversiones La Construccion SA | 38,075 | 511,587 | ||||||
Masisa SA | 10,811,763 | 586,977 | ||||||
Parque Arauco SA | 1,261,605 | 2,398,410 | ||||||
Ripley Corp. SA | 1,367,774 | 849,364 | ||||||
Salfacorp SA | 590,917 | 541,840 | ||||||
Sociedad Matriz SAAM SA | 9,726,188 | 835,681 | ||||||
Vina Concha y Toro SA | 1,221,998 | 2,507,277 | ||||||
12,242,728 | ||||||||
CHINA — 6.4% | ||||||||
21Vianet Group, Inc. ADR (a) | 64,418 | 1,848,797 | ||||||
51job, Inc. ADR (a) | 17,160 | 1,222,650 | ||||||
Anhui Expressway Co., Ltd. | 2,056,000 | 1,057,546 | ||||||
AutoNavi Holdings, Ltd. ADR (a)(b) | 30,868 | 618,595 | ||||||
Bitauto Holdings, Ltd. ADR (a) | 31,615 | 1,133,082 | ||||||
BYD Electronic International Co., Ltd. (a)(b) | 1,077,000 | 630,340 | ||||||
China Hongxing Sports, Ltd. (a)(b)(c) | 4,758,000 | 0 | ||||||
China Huiyuan Juice Group, Ltd. (a) | 2,349,400 | 1,708,203 | ||||||
China Lesso Group Holdings, Ltd. (b) | 1,203,810 | 667,313 | ||||||
China National Accord Medicines Corp., Ltd. | 167,082 | 837,451 | ||||||
China SCE Property Holdings, Ltd. | 3,017,800 | 653,587 | ||||||
China Shanshui Cement Group, Ltd. | 1,620,000 | 682,914 | ||||||
China Shipping Development Co., Ltd. (a)(b) | 1,918,000 | 1,092,884 | ||||||
China Suntien Green Energy Corp., Ltd. (Class H) | 2,112,000 | 699,730 | ||||||
China Vanadium Titano — Magnetite Mining Co., Ltd. (a) | 1,619,000 | 181,581 | ||||||
Chinasoft International, Ltd. (a) | 1,212,000 | 387,487 | ||||||
Coolpad Group, Ltd. | 1,672,000 | 821,230 | ||||||
Dongyue Group | 1,123,000 | 457,478 | ||||||
Double Coin Holdings, Ltd. | 715,324 | 496,435 | ||||||
E-Commerce China Dangdang, Inc. ADR (a)(b) | 62,905 | 903,316 | ||||||
E-House China Holdings, Ltd. ADR (b) | 76,599 | 926,082 | ||||||
First Tractor Co., Ltd. (b) | 814,500 | 443,105 | ||||||
Giant Interactive Group, Inc. ADR | 154,606 | 1,788,791 | ||||||
Hangzhou Steam Turbine Co. | 818,050 | 942,803 |
See accompanying notes to financial statements.
234
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Harbin Electric Co., Ltd. | 1,558,000 | $ | 881,729 | |||||
Home Inns & Hotels Management, Inc. ADR (a)(b) | 37,083 | 1,197,410 | ||||||
Huangshan Tourism Development Co., Ltd. | 406,500 | 490,645 | ||||||
Hunan Non-Ferrous Metal Corp., Ltd. (a)(b) | 2,412,000 | 690,293 | ||||||
Jiangsu Future Land Co., Ltd. | 908,100 | 455,866 | ||||||
Livzon Pharmaceutical Group, Inc. (Class H) (a) | 146,400 | 888,926 | ||||||
Lonking Holdings, Ltd. (a) | 3,036,000 | 594,907 | ||||||
MIE Holdings Corp. | 2,554,754 | 480,845 | ||||||
NQ Mobile, Inc. ADR (a)(b) | 36,083 | 635,422 | ||||||
Peak Sport Products Co., Ltd. (b) | 1,516,000 | 408,459 | ||||||
Perfect World Co., Ltd. ADR (b) | 42,150 | 871,240 | ||||||
Ports Design, Ltd. | 925,000 | 484,140 | ||||||
Real Gold Mining, Ltd. (a)(b)(c) | 251,500 | 0 | ||||||
Renren, Inc. ADR (a)(b) | 149,998 | 490,493 | ||||||
REXLot Holdings, Ltd. (b) | 5,422,064 | 629,087 | ||||||
Shanda Games, Ltd. ADR (a) | 79,820 | 518,032 | ||||||
Shanghai Dajiang Group, Class B (a) | 1,244,900 | 461,858 | ||||||
Shanghai Diesel Engine Co., Ltd. Class B | 393,360 | 273,385 | ||||||
Shanghai Haixin Group Co. (a) | 666,700 | 328,683 | ||||||
Shenguan Holdings Group, Ltd. (b) | 2,338,010 | 970,523 | ||||||
Sinofert Holdings, Ltd. | 2,020,000 | 260,408 | ||||||
Sinopec Engineering Group Co., Ltd. | 1,520,000 | 1,645,987 | ||||||
SPT Energy Group, Inc. | 1,644,000 | 811,716 | ||||||
TCL Communication Technology Holdings, Ltd. (a) | 846,000 | 992,465 | ||||||
Trina Solar, Ltd. ADR (a)(b) | 72,000 | 968,400 | ||||||
WuXi PharmaTech Cayman, Inc. ADR (a) | 85,724 | 3,159,787 | ||||||
Yingli Green Energy Holding Co., Ltd. ADR (a)(b) | 104,491 | 454,536 | ||||||
YY, Inc. ADR (a)(b) | 12,133 | 926,476 | ||||||
41,173,118 | ||||||||
CYPRUS — 0.1% | ||||||||
Global Ports Investments PLC, GDR | 22,590 | 270,854 | ||||||
CZECH REPUBLIC — 0.3% | ||||||||
Philip Morris CR AS | 3,583 | 2,050,407 | ||||||
EGYPT — 1.7% | ||||||||
Arab Cotton Ginning | 448,682 | 385,737 | ||||||
Citadel Capital Corp./Cairo (a) | 587,436 | 386,147 | ||||||
Eastern Tobacco | 45,146 | 1,101,525 | ||||||
Egyptian Financial Group-Hermes Holding (a) | 470,722 | 833,017 | ||||||
Egyptian Kuwait Holding Co. | 792,169 | 839,699 | ||||||
ElSwedy Electric Co. | 175,010 | 846,484 | ||||||
Ezz Steel (a) | 578,602 | 1,399,284 | ||||||
Juhayna Food Industries | 547,151 | 1,013,032 | ||||||
Maridive & Oil Services SAE (a) | 331,980 | 348,579 | ||||||
Orascom Telecom Media & Technology Holding SAE | 4,399,667 | 789,325 | ||||||
Sidi Kerir Petrochemicals Co. | 165,731 | 465,739 | ||||||
Six of October Development & Investment Co. (a) | 201,748 | 745,611 | ||||||
Talaat Moustafa Group (a) | 1,569,625 | 1,723,390 | ||||||
10,877,569 | ||||||||
HONG KONG — 8.5% | ||||||||
361 Degrees International, Ltd. | 1,281,000 | 292,298 | ||||||
Ajisen China Holdings, Ltd. | 855,000 | 771,556 | ||||||
Anton Oilfield Services Group (b) | 1,444,000 | 917,736 | ||||||
Anxin-China Holdings, Ltd. | 2,956,000 | 457,287 | ||||||
Asian Citrus Holdings, Ltd. (b) | 926,833 | 197,146 | ||||||
Beijing Capital Land, Ltd. | 1,576,400 | 579,182 | ||||||
Boshiwa International Holding, Ltd. (a)(b)(c) | 1,843,000 | 0 | ||||||
Chaowei Power Holdings, Ltd. (b) | 461,000 | 187,798 | ||||||
China Dongxiang Group Co. (b) | 5,670,000 | 1,125,660 | ||||||
China Forestry Holdings, Ltd. (a)(c) | 1,642,000 | 0 | ||||||
China High Precision Automation Group, Ltd. (a)(d) | 1,226,000 | 0 | ||||||
China High Speed Transmission Equipment Group Co., Ltd. (a)(b) | 1,338,000 | 998,707 | ||||||
China Lilang, Ltd. | 1,269,000 | 906,306 | ||||||
China Lumena New Materials Corp. (b) | 4,447,298 | 716,654 | ||||||
China Medical System Holdings, Ltd. (b) | 520,300 | 588,914 | ||||||
China Metal Recycling Holdings, Ltd. (a)(b)(c) | 1,109,932 | 0 | ||||||
China Modern Dairy Holdings, Ltd. (a)(b) | 1,858,000 | 797,615 | ||||||
China National Materials Co., Ltd. (b) | 1,684,000 | 301,759 | ||||||
China Oil and Gas Group, Ltd. (b) | 5,560,000 | 946,133 | ||||||
China Precious Metal Resources Holdings Co., Ltd. (a)(b) | 3,668,000 | 444,489 | ||||||
China Rare Earth Holdings, Ltd. (a) | 1,698,000 | 225,465 | ||||||
China Rongsheng Heavy Industries Group Holdings, Ltd. (a)(b) | 3,276,000 | 519,460 | ||||||
China Shineway Pharmaceutical Group, Ltd. | 469,000 | 818,644 | ||||||
China Singyes Solar Technologies Holdings, Ltd. | 608,000 | 960,943 | ||||||
China South City Holdings, Ltd. (b) | 2,088,000 | 952,878 | ||||||
China Travel International Investment Hong Kong, Ltd. | 8,922,000 | 1,782,778 | ||||||
China Yurun Food Group, Ltd. (a)(b) | 1,411,000 | 727,596 | ||||||
China ZhengTong Auto Services Holdings, Ltd. (a)(b) | 948,500 | 527,009 | ||||||
Citic Resources Holdings, Ltd. (a) | 4,373,000 | 580,658 | ||||||
Comba Telecom Systems Holdings, Ltd. (a)(b) | 919,984 | 240,757 | ||||||
Dah Chong Hong Holdings, Ltd. (b) | 875,000 | 569,643 | ||||||
Digital China Holdings, Ltd. (b) | 834,000 | 840,768 | ||||||
Fufeng Group, Ltd. | 1,238,600 | 471,039 | ||||||
Glorious Property Holdings, Ltd. (a)(b) | 2,891,000 | 395,055 | ||||||
GOME Electrical Appliances Holding, Ltd. (b) | 11,413,000 | 1,927,412 | ||||||
Greatview Aseptic Packaging Co., Ltd. | 1,283,048 | 681,465 | ||||||
Guangdong Land Holdings, Ltd. (b) | 1,674,000 | 386,289 | ||||||
Hanergy Solar Group, Ltd. (a)(b) | 13,608,000 | 2,140,216 | ||||||
Hengdeli Holdings, Ltd. | 2,728,400 | 524,080 | ||||||
Honghua Group, Ltd. (b) | 1,246,000 | 306,800 |
See accompanying notes to financial statements.
235
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Hua Han Bio-Pharmaceutical Holdings, Ltd. | 2,482,534 | $ | 547,261 | |||||
Huabao International Holdings, Ltd. (b) | 2,470,000 | 1,133,575 | ||||||
Ju Teng International Holdings, Ltd. (b) | 1,108,000 | 784,180 | ||||||
Kaisa Group Holdings, Ltd. (a)(b) | 3,502,000 | 1,259,574 | ||||||
Kingboard Laminates Holdings, Ltd. (b) | 1,316,500 | 481,995 | ||||||
Kingdee International Software Group Co., Ltd. (a) | 1,568,000 | 600,352 | ||||||
KWG Property Holding, Ltd. | 1,518,000 | 833,652 | ||||||
Li Ning Co., Ltd. (a)(b) | 842,000 | 568,783 | ||||||
Lijun International Pharmaceutical Holding, Ltd. | 2,562,000 | 1,046,988 | ||||||
Magic Holdings International, Ltd. | 862,000 | 698,974 | ||||||
Maoye International Holdings, Ltd. | 2,066,000 | 308,953 | ||||||
Minth Group, Ltd. | 846,000 | 1,723,181 | ||||||
NetDragon Websoft, Inc. | 329,500 | 595,534 | ||||||
Newocean Energy Holdings, Ltd. (b) | 1,436,000 | 1,110,732 | ||||||
NVC Lighting Holdings, Ltd. | 2,908,000 | 817,249 | ||||||
Pacific Online, Ltd. (b) | 1,177,100 | 729,897 | ||||||
Prince Frog International Holdings, Ltd. (b) | 937,000 | 276,617 | ||||||
Real Nutriceutical Group, Ltd. (b) | 1,302,000 | 292,054 | ||||||
Shougang Concord International Enterprises Co., Ltd. (a)(b) | 12,016,000 | 580,891 | ||||||
Shougang Fushan Resources Group, Ltd. (b) | 3,908,000 | 1,188,967 | ||||||
Sichuan Expressway Co., Ltd. | 2,076,000 | 567,370 | ||||||
Sinotrans Shipping, Ltd. | 2,733,000 | 813,870 | ||||||
Sinotrans, Ltd. | 1,403,000 | 705,384 | ||||||
Sinotruk Hong Kong, Ltd. | 693,500 | 374,597 | ||||||
Skyworth Digital Holdings, Ltd. | 2,122,626 | 1,165,699 | ||||||
Springland International Holdings, Ltd. | 1,714,000 | 760,103 | ||||||
Sunny Optical Technology Group Co., Ltd. (b) | 681,000 | 662,823 | ||||||
TCL Multimedia Technology Holdings, Ltd. (b) | 422,000 | 162,662 | ||||||
Tech Pro Technology Development, Ltd. (a) | 2,060,000 | 1,033,047 | ||||||
The United Laboratories International Holdings, Ltd. (a)(b) | 1,212,500 | 723,713 | ||||||
Tiangong International Co., Ltd. | 2,160,000 | 520,713 | ||||||
Tianjin Port Development Holdings, Ltd. | 5,134,000 | 827,312 | ||||||
Tianneng Power International, Ltd. | 1,164,000 | 393,149 | ||||||
TPV Technology, Ltd. (b) | 1,632,000 | 277,714 | ||||||
United Energy Group, Ltd. (a)(b) | 5,368,000 | 830,419 | ||||||
VODone, Ltd. (a)(b) | 2,892,999 | 313,279 | ||||||
Wasion Group Holdings, Ltd. | 943,000 | 671,049 | ||||||
West China Cement, Ltd. | 3,288,000 | 368,769 | ||||||
Yingde Gases | 1,535,000 | 1,464,345 | ||||||
Yip’s Chemical Holdings, Ltd. | 539,580 | 372,841 | ||||||
Yuexiu Transport Infrastructure, Ltd. | 1,476,549 | 761,397 | ||||||
55,157,859 | ||||||||
HUNGARY — 0.1% | ||||||||
Magyar Telekom Telecommunications PLC (b) | 440,458 | 598,323 | ||||||
INDIA — 10.7% | ||||||||
Adani Power, Ltd. (a) | 1,080,935 | 879,626 | ||||||
Aditya Birla Nuvo, Ltd. | 61,244 | 1,119,102 | ||||||
Amtek Auto, Ltd. | 423,815 | 1,129,038 | ||||||
Anant Raj, Ltd. (a) | 558,551 | 532,621 | ||||||
Apollo Hospitals Enterprise, Ltd. | 115,881 | 1,778,210 | ||||||
Arvind, Ltd. | 215,779 | 628,486 | ||||||
Ashok Leyland, Ltd. | 1,400,298 | 554,515 | ||||||
Aurobindo Pharma, Ltd. | 232,542 | 1,991,632 | ||||||
Bajaj Holdings and Investment, Ltd. | 62,193 | 1,067,192 | ||||||
Balrampur Chini Mills, Ltd. | 505,331 | 472,565 | ||||||
Bata India, Ltd. | 72,005 | 1,375,296 | ||||||
Bharat Forge, Ltd. | 287,390 | 2,029,739 | ||||||
Bhushan Steel, Ltd. | 147,243 | 1,116,234 | ||||||
Biocon, Ltd. | 141,118 | 1,002,813 | ||||||
Britannia Industries, Ltd. | 73,815 | 1,042,414 | ||||||
Coromandel International, Ltd. | 182,880 | 686,537 | ||||||
Crompton Greaves, Ltd. | 235,631 | 632,847 | ||||||
Dewan Housing Finance Corp., Ltd. | 163,171 | 597,658 | ||||||
Dish TV India, Ltd. (a) | 1,032,298 | 900,544 | ||||||
Divi’s Laboratories, Ltd. | 52,620 | 1,203,460 | ||||||
Federal Bank, Ltd. | 857,975 | 1,375,547 | ||||||
Fortis Healthcare, Ltd. (a) | 278,535 | 455,655 | ||||||
Gateway Distriparks, Ltd. | 268,140 | 744,179 | ||||||
GMR Infrastructure, Ltd. | 1,150,049 | 420,756 | ||||||
Godrej Industries, Ltd. | 223,989 | 1,183,657 | ||||||
Havells India, Ltd. | 84,228 | 1,317,100 | ||||||
Hexaware Technologies, Ltd. | 266,349 | 671,196 | ||||||
Hindustan Petroleum Corp., Ltd. | 134,123 | 695,740 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 506,814 | 488,802 | ||||||
IDFC, Ltd. | 1,290,948 | 2,642,528 | ||||||
IFCI, Ltd. | 1,180,015 | 524,583 | ||||||
IIFL Holdings, Ltd. | 487,464 | 637,872 | ||||||
India Cements, Ltd. | 719,485 | 733,068 | ||||||
Indiabulls Housing Finance, Ltd. | 377,605 | 1,501,948 | ||||||
Indiabulls Real Estate, Ltd. | 557,934 | 509,145 | ||||||
Indian Hotels Co., Ltd. | 802,468 | 976,842 | ||||||
Ipca Laboratories, Ltd. | 80,317 | 1,136,185 | ||||||
Jain Irrigation Systems, Ltd. | 312,720 | 342,710 | ||||||
Jaiprakash Associates, Ltd. | 872,335 | 784,368 | ||||||
JSW Energy, Ltd. | 742,644 | 736,769 | ||||||
JSW Steel, Ltd. | 156,676 | 2,717,973 | ||||||
Jubilant Foodworks, Ltd. (a) | 71,753 | 1,278,392 | ||||||
LIC Housing Finance, Ltd. | 305,672 | 1,208,664 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 387,819 | 1,636,408 | ||||||
MAX India, Ltd. | 443,596 | 1,545,316 | ||||||
McLeod Russel India, Ltd. | 150,063 | 768,626 | ||||||
Motherson Sumi Systems, Ltd. | 485,948 | 2,079,351 | ||||||
Mphasis, Ltd. | 111,334 | 753,132 | ||||||
Pipavav Defence & Offshore Engineering Co., Ltd. (a) | 527,226 | 312,509 | ||||||
Piramal Healthcare, Ltd. | 78,993 | 725,483 | ||||||
PTC India, Ltd. | 515,117 | 584,787 | ||||||
Punj Lloyd, Ltd. (a) | 733,756 | 347,696 |
See accompanying notes to financial statements.
236
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Rajesh Exports, Ltd. | 382,018 | $ | 564,815 | |||||
Reliance Capital, Ltd. | 109,569 | 634,600 | ||||||
Reliance Infrastructure, Ltd. | 149,547 | 1,085,873 | ||||||
Rolta India, Ltd. | 309,123 | 379,400 | ||||||
Shree Renuka Sugars, Ltd. | 831,992 | 300,212 | ||||||
Shriram Transport Finance Co., Ltd. | 164,151 | 2,109,521 | ||||||
Sintex Industries, Ltd. | 593,728 | 432,453 | ||||||
Strides Arcolab, Ltd. | 90,416 | 585,969 | ||||||
Suzlon Energy, Ltd. (a) | 1,668,002 | 310,014 | ||||||
Tata Chemicals, Ltd. | 242,759 | 1,167,406 | ||||||
Tata Global Beverages, Ltd. | 597,224 | 1,500,498 | ||||||
Tata Motors, Ltd. Class A | 602,446 | 2,041,694 | ||||||
Thermax, Ltd. | 70,815 | 887,166 | ||||||
Unitech, Ltd. (a) | 1,877,434 | 440,103 | ||||||
UPL, Ltd. | 604,953 | 1,868,368 | ||||||
Videocon Industries, Ltd. | 140,662 | 378,372 | ||||||
Voltas, Ltd. | 561,856 | 1,513,711 | ||||||
Welspun Corp., Ltd. | 376,824 | 433,784 | ||||||
69,211,475 | ||||||||
INDONESIA — 3.5% | ||||||||
AKR Corporindo Tbk PT | 2,474,900 | 1,053,358 | ||||||
Alam Sutera Realty Tbk PT | 23,653,900 | 1,238,915 | ||||||
Bakrieland Development Tbk PT (a)(d) | 7,008,000 | 9,254 | ||||||
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | 8,079,800 | 743,256 | ||||||
Bank Tabungan Negara Tbk PT | 5,882,686 | 665,427 | ||||||
Bumi Resources Tbk PT (a) | 16,543,800 | 391,750 | ||||||
Bumi Serpong Damai PT | 7,338,800 | 1,056,245 | ||||||
BW Plantation Tbk PT | 3,853,400 | 446,058 | ||||||
Ciputra Development Tbk PT | 14,782,200 | 1,509,450 | ||||||
Citra Marga Nusaphala Persada Tbk PT (a) | 759,000 | 226,163 | ||||||
Energi Mega Persada Tbk PT (a) | 44,257,100 | 385,691 | ||||||
Gajah Tunggal Tbk PT | 2,620,500 | 490,190 | ||||||
Garuda Indonesia Tbk PT (a) | 12,612,000 | 551,775 | ||||||
Harum Energy Tbk PT | 1,238,200 | 238,157 | ||||||
Indah Kiat Pulp & Paper Corp. Tbk PT (a) | 3,333,800 | 437,268 | ||||||
Intiland Development Tbk PT | 7,645,000 | 304,858 | ||||||
Japfa Comfeed Indonesia Tbk PT | 7,315,300 | 907,973 | ||||||
Kawasan Industri Jababeka Tbk PT | 34,978,108 | 788,239 | ||||||
Matahari Putra Prima Tbk PT | 3,514,600 | 830,696 | ||||||
Medco Energi Internasional Tbk PT | 2,300,100 | 550,728 | ||||||
Mitra Adiperkasa Tbk PT | 1,272,500 | 700,099 | ||||||
MNC Investama Tbk PT | 16,607,000 | 501,426 | ||||||
MNC Sky Vision Tbk PT | 2,064,900 | 433,520 | ||||||
Modernland Realty Tbk PT (a) | 7,867,200 | 308,871 | ||||||
Pakuwon Jati Tbk PT | 25,072,800 | 772,489 | ||||||
Pembangunan Perumahan Persero PT Tbk | 5,979,000 | 963,166 | ||||||
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | 4,061,700 | 790,172 | ||||||
PT International Nickel Indonesia Tbk | 2,840,800 | 705,199 | ||||||
Ramayana Lestari Sentosa Tbk PT | 2,091,600 | 255,926 | ||||||
Sentul City Tbk PT (a) | 17,196,100 | 273,987 | ||||||
Summarecon Agung Tbk PT | 15,266,800 | 1,431,263 | ||||||
Surya Semesta Internusa Tbk PT | 4,323,700 | 363,480 | ||||||
Timah Tbk PT | 3,546,900 | 608,843 | ||||||
Trada Maritime Tbk PT (a) | 12,024,200 | 1,820,566 | ||||||
22,754,458 | ||||||||
JERSEY — 0.1% | ||||||||
WNS Holdings, Ltd. ADR (a)(b) | 27,969 | 503,442 | ||||||
MALAYSIA — 5.8% | ||||||||
Aeon Co. M Bhd | 293,100 | 1,290,699 | ||||||
Affin Holdings Bhd | 446,200 | 528,799 | ||||||
Berjaya Corp. Bhd | 4,686,000 | 760,551 | ||||||
Berjaya Sports Toto Bhd | 1,346,953 | 1,637,545 | ||||||
Boustead Holdings Bhd | 714,760 | 1,186,342 | ||||||
Bursa Malaysia Bhd | 982,573 | 2,271,758 | ||||||
Carlsberg Brewery Malay Bhd | 99,000 | 394,727 | ||||||
Dialog Group Bhd | 2,730,720 | 3,002,078 | ||||||
DRB-Hicom Bhd | 1,461,300 | 1,105,317 | ||||||
Eastern & Oriental Bhd | 1,390,300 | 902,599 | ||||||
Gas Malaysia Bhd | 338,600 | 385,727 | ||||||
HAP Seng Consolidated Bhd | 1,488,100 | 1,371,668 | ||||||
IGB Corp. Bhd | 3,178,367 | 2,637,689 | ||||||
KNM Group Bhd (a) | 4,612,155 | 1,094,601 | ||||||
KPJ Healthcare Bhd | 1,663,993 | 1,523,607 | ||||||
Magnum Bhd | 1,682,900 | 1,540,919 | ||||||
Malaysia Building Society Bhd | 2,326,300 | 1,553,004 | ||||||
Malaysian Bulk Carriers Bhd | 812,400 | 510,005 | ||||||
Malaysian Resources Corp. Bhd | 1,906,800 | 957,633 | ||||||
Media Prima Bhd | 1,827,900 | 1,321,036 | ||||||
Oriental Holdings Bhd | 302,300 | 665,606 | ||||||
OSK Holdings Bhd | 1,258,000 | 643,350 | ||||||
Padini Holdings Bhd | 598,300 | 349,947 | ||||||
Parkson Holdings Bhd | 344,400 | 316,399 | ||||||
Pavilion Real Estate Investment Trust | 825,200 | 331,040 | ||||||
POS Malaysia Bhd | 802,600 | 1,172,379 | ||||||
Sunway Real Estate Investment Trust | 4,867,200 | 2,027,068 | ||||||
TAN Chong Motor Holdings Bhd | 927,700 | 1,571,025 | ||||||
Top Glove Corp. Bhd | 920,500 | 1,395,338 | ||||||
UOA Development Bhd | 1,840,000 | 1,222,722 | ||||||
Wah Seong Corp. Bhd | 1,493,703 | 873,671 | ||||||
WCT Holdings Bhd | 1,364,025 | 906,426 | ||||||
37,451,275 | ||||||||
MEXICO — 2.2% | ||||||||
Alsea SAB de CV | 529,638 | 1,927,986 | ||||||
Axtel SAB de CV (a)(b) | 2,156,152 | 736,962 | ||||||
Banregio Grupo Financiero SAB de CV (b) | 280,632 | 1,627,176 | ||||||
Bolsa Mexicana de Valores SAB de CV | 751,651 | 1,483,285 | ||||||
Concentradora Fibra Hotelera Mexicana SA de CV (b) | 446,368 | 753,938 | ||||||
Consorcio ARA SAB de CV (a) | 2,406,954 | 1,079,083 | ||||||
Corporacion GEO SAB de CV (a)(b)(c) | 791,193 | 0 | ||||||
Empresas ICA SAB de CV (a)(b) | 937,394 | 1,559,600 | ||||||
Grupo Aeroportuario del Centro Norte Sab de CV | 131,944 | 479,594 | ||||||
Grupo Simec SAB de CV, Series B (a) | 223,747 | 860,608 | ||||||
Mexico Real Estate Management SA de CV (a) | 812,688 | 1,524,637 | ||||||
TF Administradora Industrial S de RL de CV | 481,813 | 963,718 | ||||||
TV Azteca SAB de CV | 1,848,578 | 1,129,087 |
See accompanying notes to financial statements.
237
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Urbi Desarrollos Urbanos SA de CV (a)(b)(c) | 679,159 | $ | 0 | |||||
14,125,674 | ||||||||
PERU — 0.3% | ||||||||
Ferreyros SA | 1,946,351 | 1,046,463 | ||||||
Luz del Sur SAA | 236,854 | 759,012 | ||||||
1,805,475 | ||||||||
PHILIPPINES — 2.1% | ||||||||
Belle Corp. (a) | 3,617,600 | 450,940 | ||||||
Cebu Air, Inc. | 653,730 | 698,993 | ||||||
Cosco Capital, Inc. (a) | 1,901,800 | 402,879 | ||||||
First Gen Corp. | 1,253,000 | 524,167 | ||||||
First Philippine Holdings Corp. | 415,470 | 671,682 | ||||||
GMA Holdings, Inc. | 3,641,200 | 631,699 | ||||||
Manila Water Co., Inc. | 1,370,700 | 730,510 | ||||||
Megaworld Corp. | 35,678,000 | 3,333,500 | ||||||
Philippine National Bank (a) | 567,812 | 1,038,256 | ||||||
Rizal Commercial Banking Corp. | 509,820 | 534,319 | ||||||
Robinsons Land Corp. | 2,158,800 | 1,054,247 | ||||||
Security Bank Corp. | 491,714 | 1,162,263 | ||||||
Semirara Mining Corp. | 190,180 | 1,738,740 | ||||||
SM Prime Holdings, Inc. | 1 | 1 | ||||||
Union Bank of Philippines | 160,800 | 436,019 | ||||||
13,408,215 | ||||||||
POLAND — 2.5% | ||||||||
Agora SA (a) | 145,799 | 540,461 | ||||||
Alior Bank SA (a) | 43,662 | 1,267,345 | ||||||
AmRest Holdings SE (a) | 17,039 | 508,113 | ||||||
Asseco Poland SA | 134,497 | 2,089,970 | ||||||
Boryszew SA (a)(d) | 2,225,591 | 346,206 | ||||||
Ciech SA (a) | 68,323 | 739,446 | ||||||
Echo Investment SA (a) | 380,030 | 753,419 | ||||||
Emperia Holding SA | 35,833 | 735,304 | ||||||
Getin Noble Bank SA (a) | 1,302,017 | 1,374,672 | ||||||
Globe Trade Centre SA (a) | 366,574 | 874,760 | ||||||
Grupa Lotos SA (a) | 97,648 | 1,227,791 | ||||||
Lubelski Wegiel Bogdanka SA | 55,038 | 2,286,115 | ||||||
Netia SA (a) | 787,914 | 1,329,967 | ||||||
Orbis SA | 44,394 | 642,092 | ||||||
TVN SA | 277,235 | 1,521,333 | ||||||
16,236,994 | ||||||||
RUSSIA — 0.9% | ||||||||
Aeroflot — Russian Airlines OJSC | 539,850 | 849,604 | ||||||
CTC Media, Inc. | 88,926 | 819,008 | ||||||
DIXY Group OJSC (a) | 24,916 | 193,863 | ||||||
Mechel OAO, ADR (a)(b) | 161,004 | 333,278 | ||||||
Novorossiysk Commercial Sea Trade Port PJSC GDR | 55,652 | 261,564 | ||||||
PIK Group GDR (a) | 340,407 | 765,916 | ||||||
Vsmpo-Avisma Corp. | 12,065 | 2,343,237 | ||||||
5,566,470 | ||||||||
SINGAPORE — 0.4% | ||||||||
Asian Pay Television Trust | 1,053,000 | 619,633 | ||||||
Bumitama Agri, Ltd. (b) | 433,000 | 358,093 | ||||||
Nam Cheong, Ltd. (b) | 3,294,000 | 877,492 | ||||||
Yanlord Land Group, Ltd. (b) | 1,145,000 | 974,236 | ||||||
2,829,454 | ||||||||
SOUTH AFRICA — 8.9% | ||||||||
Acucap Properties, Ltd. | 177,786 | 676,127 | ||||||
Adcock Ingram Holdings, Ltd. (b) | 302,411 | 1,696,370 | ||||||
AECI, Ltd. | 119,074 | 1,437,777 | ||||||
African Bank Investments, Ltd. (b) | 1,300,294 | 1,328,988 | ||||||
Aquarius Platinum, Ltd. (a) | 643,282 | 380,719 | ||||||
Aveng, Ltd. (a) | 513,106 | 1,105,447 | ||||||
AVI, Ltd. (b) | 128,564 | 690,986 | ||||||
Brait SE (a) | 252,625 | 1,278,029 | ||||||
Capital Property Fund | 656,123 | 653,759 | ||||||
Clicks Group, Ltd. (b) | 439,724 | 2,740,462 | ||||||
DataTec, Ltd. | 454,716 | 2,109,750 | ||||||
Emira Property Fund | 431,274 | 574,873 | ||||||
Famous Brands, Ltd. | 50,669 | 478,176 | ||||||
Fountainhead Property Trust | 931,267 | 665,829 | ||||||
Grindrod, Ltd. (b) | 845,896 | 2,050,823 | ||||||
Harmony Gold Mining Co., Ltd. (a)(b) | 343,462 | 1,067,818 | ||||||
Hosken Consolidated Investments, Ltd. | 157,644 | 2,240,730 | ||||||
Hyprop Investments, Ltd. | 74,163 | 541,174 | ||||||
Illovo Sugar, Ltd. | 198,713 | 529,188 | ||||||
Investec, Ltd. | 294,786 | 2,377,817 | ||||||
JD Group, Ltd. (b) | 402,060 | 1,035,932 | ||||||
JSE, Ltd. (b) | 315,868 | 2,861,699 | ||||||
Lewis Group, Ltd. (b) | 252,772 | 1,393,888 | ||||||
Merafe Resources, Ltd. (a) | 5,112,955 | 520,148 | ||||||
Mondi, Ltd. | 172,678 | 3,035,767 | ||||||
Mpact, Ltd. | 279,841 | 722,890 | ||||||
Murray & Roberts Holdings, Ltd. (a) | 464,515 | 1,085,999 | ||||||
Northam Platinum, Ltd. (a) | 591,901 | 2,190,809 | ||||||
Omnia Holdings, Ltd. | 47,836 | 959,867 | ||||||
Pick’ n Pay Holdings, Ltd. | 241,771 | 516,509 | ||||||
PPC, Ltd. | 698,683 | 1,942,355 | ||||||
PSG Group, Ltd. | 31,219 | 275,447 | ||||||
Resilient Property Income Fund, Ltd. | 213,512 | 1,153,845 | ||||||
Reunert, Ltd. | 319,929 | 1,961,934 | ||||||
SA Corporate Real Estate Fund | 5,345,166 | 2,032,788 | ||||||
Sappi, Ltd. (a) | 536,867 | 1,888,597 | ||||||
Sibanye Gold, Ltd. | 716,674 | 1,552,195 | ||||||
Sun International, Ltd. | 148,402 | 1,332,075 | ||||||
Super Group, Ltd. (a) | 471,092 | 1,287,700 | ||||||
Telkom SA, Ltd. (a) | 354,503 | 1,134,164 | ||||||
The Spar Group, Ltd. | 92,194 | 1,065,176 | ||||||
Tongaat Hulett, Ltd. | 122,734 | 1,326,539 | ||||||
Wilson Bayly Holmes-Ovcon, Ltd. | 113,954 | 1,492,965 | ||||||
57,394,130 | ||||||||
TAIWAN — 30.2% | ||||||||
A-DATA Technology Co., Ltd. (b) | 378,000 | 958,266 | ||||||
Ability Enterprise Co., Ltd. | 596,000 | 380,665 | ||||||
Accton Technology Corp. | 1,417,341 | 791,226 | ||||||
Adlink Technology, Inc. (b) | 402,572 | 782,604 | ||||||
Advanced Ceramic X Corp. | 143,642 | 726,406 | ||||||
Advanced International Multitech Co., Ltd. | 381,000 | 385,348 | ||||||
AGV Products Corp. (a) | 1,846,926 | 606,494 | ||||||
Alpha Networks, Inc. | 860,348 | 733,143 |
See accompanying notes to financial statements.
238
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Altek Corp. | 573,309 | $ | 641,978 | |||||
AmTRAN Technology Co., Ltd. | 980,717 | 626,384 | ||||||
Anpec Electronics Corp. (b) | 430,000 | 399,606 | ||||||
Apex Biotechnology Corp. | 6,915 | 15,509 | ||||||
Arcadyan Technology Corp. | 267,532 | 472,645 | ||||||
Asia Optical Co., Inc. (a)(b) | 393,540 | 416,123 | ||||||
Asia Polymer (b) | 595,588 | 451,788 | ||||||
Asrock, Inc. | 143,000 | 572,892 | ||||||
Aten International Co., Ltd. | 242,000 | 791,502 | ||||||
Bank of Kaohsiung | 1,218,344 | 384,077 | ||||||
Basso Industry Corp. | 574,000 | 718,148 | ||||||
BES Engineering Corp. | 2,836,356 | 795,418 | ||||||
Capital Securities Corp. | 2,696,730 | 991,819 | ||||||
Career Technology Co., Ltd. (b) | 425,726 | 471,126 | ||||||
Cathay No. 1 REIT | 1,219,000 | 719,731 | ||||||
Cathay Real Estate Development Co., Ltd. | 2,028,904 | 1,242,560 | ||||||
Chang Wah Electromaterials, Inc. | 143,577 | 394,156 | ||||||
Charoen Pokphand Enterprise | 851,798 | 573,413 | ||||||
Cheng Loong Corp. | 1,801,128 | 825,080 | ||||||
Cheng Uei Precision Industry Co., Ltd. | 522,915 | 1,107,562 | ||||||
Chicony Electronics Co., Ltd. | 652,950 | 1,693,886 | ||||||
Chien Kuo Construction Co., Ltd. | 1,107,501 | 512,791 | ||||||
Chin-Poon Industrial Co. | 707,000 | 1,286,193 | ||||||
China Bills Finance Corp. | 2,216,394 | 858,828 | ||||||
China Chemical & Pharmaceutical Co., Ltd. | 717,000 | 555,659 | ||||||
China Manmade Fibers Corp. (a)(b) | 2,167,904 | 829,360 | ||||||
China Motor Corp. | 957,000 | 854,787 | ||||||
China Petrochemical Development Corp. (b) | 1,790,575 | 740,867 | ||||||
China Steel Chemical Corp. | 273,000 | 1,559,872 | ||||||
China Synthetic Rubber Corp. | 717,452 | 669,096 | ||||||
Chipbond Technology Corp. (b) | 697,000 | 1,231,380 | ||||||
Chong Hong Construction Co., Ltd. (b) | 286,622 | 869,678 | ||||||
Chroma ATE, Inc. (b) | 458,680 | 1,093,512 | ||||||
Chung Hung Steel Corp. (a) | 910,239 | 241,216 | ||||||
Clevo Co. | 839,265 | 1,659,100 | ||||||
CMC Magnetics Corp. (a) | 2,206,719 | 347,104 | ||||||
Coretronic Corp. | 581,420 | 694,974 | ||||||
CTCI Corp. | 820,000 | 1,229,226 | ||||||
CyberTAN Technology, Inc. (b) | 649,210 | 688,596 | ||||||
D-Link Corp. | 1,266,904 | 900,697 | ||||||
Dynapack International Technology Corp. | 97,000 | 256,097 | ||||||
E Ink Holdings, Inc. (a)(b) | 860,000 | 498,448 | ||||||
Elan Microelectronics Corp. | 670,899 | 1,291,017 | ||||||
Elite Material Co., Ltd. | 573,782 | 521,920 | ||||||
Elite Semiconductor Memory Technology, Inc. (a)(b) | 573,674 | 945,684 | ||||||
ENG Electric Co., Ltd. | 287,086 | 245,111 | ||||||
Entie Commercial Bank | 500,000 | 222,478 | ||||||
Entire Technology Co., Ltd. (a) | 219,942 | 242,675 | ||||||
Episil Technologies, Inc. (a) | 1,090,000 | 499,319 | ||||||
Epistar Corp. (a)(b) | 940,000 | 2,256,432 | ||||||
Eternal Chemical Co., Ltd. | 971,990 | 1,015,000 | ||||||
Eva Airways Corp. (a)(b) | 1,380,000 | 693,342 | ||||||
Evergreen Marine Corp., Ltd. (a)(b) | 1,425,000 | 832,937 | ||||||
Everlight Chemical Industrial Corp. | 594,964 | 534,349 | ||||||
Everlight Electronics Co., Ltd. | 665,503 | 1,687,114 | ||||||
Excelsior Medical Co., Ltd. | 227,660 | 451,545 | ||||||
Far Eastern Department Stores, Ltd. | 983,520 | 867,171 | ||||||
Far Eastern International Bank (b) | 3,238,562 | 1,148,558 | ||||||
Faraday Technology Corp. | 716,976 | 1,038,294 | ||||||
Farglory Land Development Co., Ltd. | 238,464 | 406,413 | ||||||
Feng Hsin Iron & Steel Co., Ltd. | 573,270 | 963,843 | ||||||
Feng TAY Enterprise Co., Ltd. | 553,816 | 1,622,211 | ||||||
FLEXium Interconnect, Inc. (b) | 286,875 | 853,489 | ||||||
Forhouse Corp. | 848,576 | 353,893 | ||||||
Formosa Epitaxy, Inc. (a)(b) | 687,000 | 429,763 | ||||||
Formosa Taffeta Co., Ltd. | 1,251,000 | 1,396,733 | ||||||
Formosan Rubber Group, Inc. | 835,124 | 817,230 | ||||||
Formosan Union Chemical | 1,374,200 | 667,865 | ||||||
FSP Technology, Inc. | 516,184 | 533,092 | ||||||
G Tech Optoelectronics Corp. (b) | 143,000 | 182,433 | ||||||
Gemtek Technology Corp. (b) | 532,234 | 529,569 | ||||||
GeoVision, Inc. (b) | 143,474 | 961,126 | ||||||
Gigabyte Technology Co., Ltd. | 430,000 | 634,004 | ||||||
Gigastorage Corp. (a)(b) | 574,114 | 701,323 | ||||||
Gintech Energy Corp. (a)(b) | 429,806 | 406,483 | ||||||
Global Unichip Corp. (a)(b) | 143,669 | 417,998 | ||||||
Gloria Material Technology Corp. | 573,913 | 451,366 | ||||||
Goldsun Development & Construction Co., Ltd. | 2,247,041 | 870,703 | ||||||
Grand Pacific Petrochemical | 1,376,000 | 835,925 | ||||||
Grape King, Inc. | 257,000 | 1,109,778 | ||||||
Great Wall Enterprise Co. | 874,129 | 864,011 | ||||||
HannStar Display Corp. (a)(b) | 2,524,237 | 949,101 | ||||||
Hey Song Corp. | 573,770 | 620,827 | ||||||
Highwealth Construction Corp. | 676,400 | 1,594,796 | ||||||
Himax Technologies, Inc. ADR (b) | 108,593 | 1,250,991 | ||||||
Hiwin Technologies Corp. | 139,730 | 1,353,595 | ||||||
Ho Tung Chemical Corp. (b) | 2,024,031 | 940,482 | ||||||
Hong TAI Electric Industrial | 1,110,000 | 369,970 | ||||||
Huaku Development Co., Ltd. | 379,260 | 929,080 | ||||||
Huang Hsiang Construction Co. | 393,484 | 670,612 | ||||||
I-Sheng Electric Wire & Cable Co., Ltd. | 505,000 | 782,727 | ||||||
Ibase Technology, Inc. | 431,910 | 953,102 | ||||||
ITE Technology, Inc. | 286,887 | 310,415 | ||||||
J Touch Corp. (a)(b) | 250,121 | 190,142 | ||||||
Jess-Link Products Co., Ltd. | 422,974 | 443,774 | ||||||
Jih Sun Financial Holdings Co., Ltd. | 1,972,888 | 544,200 | ||||||
KEE TAI Properties Co., Ltd. | 1,242,076 | 872,849 | ||||||
Kenda Rubber Industrial Co., Ltd. | 672,016 | 1,602,113 | ||||||
Kerry TJ Logistics Co., Ltd. | 661,000 | 899,711 | ||||||
King Yuan Electronics Co., Ltd. | 1,808,656 | 1,499,665 | ||||||
King’s Town Bank | 1,669,000 | 1,548,288 | ||||||
Kinpo Electronics | 2,554,371 | 989,790 | ||||||
Kinsus Interconnect Technology Corp. | 357,030 | 1,324,830 | ||||||
Kuoyang Construction Co., Ltd. | 1,088,527 | 598,730 | ||||||
KYE Systems Corp. | 670,000 | 332,222 | ||||||
LCY Chemical Corp. | 846,862 | 987,229 | ||||||
Lien Hwa Industrial Corp. | 1,011,651 | 647,802 | ||||||
Lingsen Precision Industries, Ltd. | 1,242,694 | 852,879 | ||||||
Long Bon International Co., Ltd. | 447,000 | 273,022 | ||||||
Longwell Co. | 565,000 | 768,114 | ||||||
Lumax International Corp., Ltd. | 286,358 | 722,184 |
See accompanying notes to financial statements.
239
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Lung Yen Life Service Corp. (b) | 264,000 | $ | 717,813 | |||||
Macronix International Co., Ltd. (a) | 4,197,170 | 869,687 | ||||||
Makalot Industrial Co., Ltd. (b) | 256,000 | 1,420,704 | ||||||
Masterlink Securities Corp. | 1,820,472 | 606,774 | ||||||
Mercuries & Associates, Ltd. | 573,835 | 373,103 | ||||||
Merida Industry Co., Ltd. | 268,950 | 1,784,021 | ||||||
Micro-Star International Co., Ltd. | 1,147,000 | 1,133,723 | ||||||
Microbio Co., Ltd. (a)(b) | 663,723 | 681,105 | ||||||
Mirle Automation Corp. | 809,195 | 850,316 | ||||||
Mitac Holdings Corp. (a) | 874,999 | 813,151 | ||||||
Motech Industries, Inc. (a) | 403,885 | 710,885 | ||||||
Nan Kang Rubber Tire Co., Ltd. (a) | 972,204 | 1,181,235 | ||||||
Nantex Industry Co., Ltd. | 743,348 | 458,910 | ||||||
Neo Solar Power Corp. (a)(b) | 573,436 | 682,606 | ||||||
Newmax Technology Co., Ltd. (a)(b) | 120,499 | 300,728 | ||||||
Nien Hsing Textile Co., Ltd. | 429,938 | 436,962 | ||||||
Oriental Union Chemical Corp. | 1,017,500 | 995,698 | ||||||
Pan-International Industrial Co., Ltd. | 573,771 | 421,108 | ||||||
PC Home Online | 108,845 | 814,930 | ||||||
Phison Electronics Corp. | 143,837 | 925,771 | ||||||
Phytohealth Corp. (a)(b) | 396,511 | 537,752 | ||||||
PixArt Imaging, Inc. | 143,060 | 318,042 | ||||||
Portwell, Inc. | 402,000 | 435,629 | ||||||
Powertech Technology, Inc. (b) | 717,000 | 1,084,241 | ||||||
President Securities Corp. | 1,577,850 | 886,011 | ||||||
Prime Electronics Satellitics, Inc. | 429,803 | 319,679 | ||||||
Prince Housing Development Corp. (b) | 2,167,375 | 1,053,350 | ||||||
Promate Electronic Co., Ltd. | 707,000 | 833,472 | ||||||
Qisda Corp. (a) | 2,493,641 | 827,051 | ||||||
Radiant Opto-Electronics Corp. (b) | 513,331 | 2,073,384 | ||||||
Radium Life Tech Co., Ltd. (b) | 1,099,007 | 947,342 | ||||||
Realtek Semiconductor Corp. | 695,053 | 2,095,259 | ||||||
RichTek Technology Corp. (b) | 143,477 | 855,138 | ||||||
Ritek Corp. (a)(b) | 3,813,596 | 608,622 | ||||||
Ruentex Industries, Ltd. | 832,939 | 1,991,231 | ||||||
Sampo Corp. | 2,335,527 | 970,180 | ||||||
Sanyang Industry Co., Ltd. | 956,945 | 1,586,921 | ||||||
ScinoPharm Taiwan, Ltd. | 286,844 | 766,738 | ||||||
Senao International Co., Ltd. | 216,911 | 597,614 | ||||||
Sercomm Corp. (b) | 392,000 | 899,788 | ||||||
Shih Wei Navigation Co., Ltd. | 314,654 | 212,852 | ||||||
Shin Zu Shing Co., Ltd. | 85,000 | 205,993 | ||||||
Shinkong Insurance Co., Ltd. (b) | 670,841 | 523,191 | ||||||
Shinkong Synthetic Fibers Corp. | 2,708,796 | 907,305 | ||||||
Sigurd Microelectronics Corp. | 957,694 | 930,884 | ||||||
Silicon Integrated Systems Corp. (a)(b) | 1,067,000 | 320,950 | ||||||
Silicon Motion Technology Corp. ADR | 44,338 | 743,992 | ||||||
Simplo Technology Co., Ltd. | 353,129 | 1,681,429 | ||||||
Sinbon Electronics Co., Ltd. | 684,000 | 1,037,708 | ||||||
Sinmag Bakery Machine Corp. | 143,316 | 837,706 | ||||||
Sino-American Silicon Products, Inc. (a) | 548,058 | 959,248 | ||||||
Sinon Corp. | 1,433,662 | 795,629 | ||||||
Sinphar Pharmaceutical Co., Ltd. (b) | 430,136 | 706,241 | ||||||
Sintek Photronic Corp. (a) | 993,000 | 302,278 | ||||||
Sinyi Realty Co. | 642,477 | 1,192,019 | ||||||
Soft-World International Corp. | 143,848 | 479,454 | ||||||
Solar Applied Materials Technology Corp. | 444,090 | 392,284 | ||||||
Solartech Energy Corp. (a) | 451,207 | 343,008 | ||||||
St. Shine Optical Co., Ltd. | 73,000 | 1,627,682 | ||||||
Standard Foods Corp. (b) | 557,192 | 1,518,658 | ||||||
Systex Corp. (a) | 388,000 | 908,444 | ||||||
TA Chen Stainless Pipe (a) | 452,200 | 216,058 | ||||||
Ta Chong Bank Co., Ltd. (a) | 2,969,496 | 989,751 | ||||||
Taichung Commercial Bank | 2,869,760 | 970,644 | ||||||
Taiflex Scientific Co., Ltd. | 422,725 | 800,960 | ||||||
Tainan Enterprises Co., Ltd. | 412,000 | 457,966 | ||||||
Tainan Spinning Co., Ltd. | 1,940,573 | 1,465,665 | ||||||
Taisun Enterprise Co., Ltd. (a)(b) | 985,549 | 478,980 | ||||||
Taiwan Acceptance Corp. (b) | 414,000 | 1,087,595 | ||||||
Taiwan Business Bank (a) | 5,148,316 | 1,519,854 | ||||||
Taiwan Cogeneration Corp. | 860,469 | 535,453 | ||||||
Taiwan Fire & Marine Insurance Co. | 717,004 | 567,434 | ||||||
Taiwan Hon Chuan Enterprise Co., Ltd. | 426,027 | 923,332 | ||||||
Taiwan Land Development Corp. (a) | 2,022,831 | 757,254 | ||||||
Taiwan Life Insurance Co., Ltd. (a) | 571,025 | 465,033 | ||||||
Taiwan Secom Co., Ltd. | 430,726 | 1,104,661 | ||||||
Taiwan Surface Mounting Technology Co., Ltd. | 443,122 | 656,989 | ||||||
Taiyen Biotech Co., Ltd. | 663,979 | 610,505 | ||||||
Tatung Co., Ltd. (a) | 3,490,691 | 1,087,814 | ||||||
Teco Electric & Machinery Co., Ltd. | 2,519,838 | 2,809,244 | ||||||
Test-Rite International Co. | 573,896 | 416,488 | ||||||
Thye Ming Industrial Co., Ltd. | 573,218 | 663,523 | ||||||
Ton Yi Industrial Corp. (b) | 430,000 | 488,564 | ||||||
Tong Hsing Electronic Industries, Ltd. | 211,327 | 1,092,981 | ||||||
Tong Yang Industry Co., Ltd. | 763,872 | 1,113,732 | ||||||
Topco Scientific Co., Ltd. | 421,393 | 821,960 | ||||||
Transcend Information, Inc. | 381,484 | 1,240,191 | ||||||
Tripod Technology Corp. | 698,353 | 1,373,659 | ||||||
TSRC Corp. | 807,170 | 1,206,017 | ||||||
TTY Biopharm Co., Ltd. (b) | 286,885 | 931,711 | ||||||
Tung Ho Steel Enterprise Corp. | 1,078,258 | 915,293 | ||||||
Tung Thih Electronic Co., Ltd. | 143,893 | 505,592 | ||||||
TXC Corp. (b) | 574,120 | 767,316 | ||||||
U-Ming Marine Transport Corp. | 541,000 | 914,917 | ||||||
Unimicron Technology Corp. | 1,167,000 | 938,888 | ||||||
Unity Opto Technology Co., Ltd. (a)(b) | 588,307 | 709,001 | ||||||
Unizyx Holding Corp. (a) | 716,694 | 429,510 | ||||||
UPC Technology Corp. | 943,914 | 421,549 | ||||||
USI Corp. | 1,290,318 | 834,718 | ||||||
Ve Wong Corp. | 573,604 | 448,297 | ||||||
Via Technologies, Inc. (a)(b) | 506,031 | 404,625 | ||||||
Visual Photonics Epitaxy Co., Ltd. | 511,162 | 490,977 | ||||||
Wafer Works Corp. (a)(b) | 436,983 | 238,922 | ||||||
Wah Hong Industrial Corp. | 228,083 | 235,929 | ||||||
Walsin Lihwa Corp. (a) | 3,703,000 | 1,178,296 | ||||||
Wan Hai Lines, Ltd. | 1,736,320 | 838,155 | ||||||
Waterland Financial Holdings Co., Ltd. | 2,976,497 | 919,755 | ||||||
Wei Chuan Food Corp. | 649,899 | 979,570 | ||||||
Weikeng Industrial Co., Ltd. | 716,628 | 584,786 | ||||||
Winbond Electronics Corp. (a) | 4,194,730 | 1,096,463 | ||||||
Wintek Corp. (a)(b) | 1,903,859 | 625,190 |
See accompanying notes to financial statements.
240
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Wistron NeWeb Corp. | 286,697 | $ | 645,839 | |||||
WUS Printed Circuit Co., Ltd. (b) | 1,004,000 | 506,080 | ||||||
Yageo Corp. | 1,383,700 | 633,860 | ||||||
Yang Ming Marine Transport Corp. (a)(b) | 1,909,788 | 802,735 | ||||||
Yieh Phui Enterprise Co., Ltd. (a) | 2,070,487 | 641,832 | ||||||
Young Fast Optoelectronics Co., Ltd. (b) | 202,959 | 202,942 | ||||||
Young Optics, Inc. | 143,242 | 299,631 | ||||||
Yuen Foong Yu Paper Manufacturing Co., Ltd. | 2,464,941 | 1,117,024 | ||||||
Yungtay Engineering Co., Ltd. (b) | 558,000 | 1,601,484 | ||||||
Zenitron Corp. | 717,348 | 431,080 | ||||||
Zinwell Corp. (b) | 582,674 | 683,079 | ||||||
194,963,457 | ||||||||
THAILAND — 4.6% | ||||||||
Bangkok Expressway PCL, NVDR | 872,300 | 887,358 | ||||||
Bangkokland PCL, NVDR | 19,129,300 | 908,111 | ||||||
Berli Jucker PCL, NVDR | 548,800 | 828,952 | ||||||
Bumrungrad Hospital PCL | 371,100 | 1,101,060 | ||||||
Central Plaza Hotel PCL, NVDR | 588,800 | 549,051 | ||||||
Delta Electronics Thai PCL, NVDR | 473,300 | 860,811 | ||||||
Dynasty Ceramic PCL, NVDR | 275,700 | 446,185 | ||||||
Esso Thailand PCL, NVDR | 1,270,700 | 238,942 | ||||||
Hana Microelectronics PCL | 2,027,784 | 1,906,517 | ||||||
Hemaraj Land and Development PCL, NVDR | 8,105,300 | 779,548 | ||||||
IRPC PCL, NVDR | 7,748,300 | 821,645 | ||||||
Jasmine International PCL, NVDR | 7,375,000 | 1,796,008 | ||||||
Kiatnakin Bank PCL, NVDR | 645,100 | 845,153 | ||||||
LPN Development PCL, ADR, NVDR | 1,144,800 | 564,636 | ||||||
MBK PCL, NVDR | 78,400 | 348,015 | ||||||
MK Restaurants Group PCL, NVDR (a) | 891,800 | 1,477,628 | ||||||
Precious Shipping PCL | 517,400 | 450,572 | ||||||
Pruksa Real Estate PCL | 600,700 | 375,900 | ||||||
Pruksa Real Estate PCL, NVDR | 857,700 | 536,723 | ||||||
Robinson Department Store PCL, NVDR | 466,400 | 758,403 | ||||||
Siam Global House PCL, NVDR | 1,020,825 | 453,141 | ||||||
Sino Thai Engineering & Construction PCL, NVDR | 1,086,300 | 539,132 | ||||||
Sri Trang Agro-Industry PCL, NVDR | 635,600 | 299,774 | ||||||
Supalai PCL, NVDR | 638,400 | 350,293 | ||||||
Thai Airways International PCL, NVDR (a) | 1,124,400 | 485,253 | ||||||
Thai Stanley Electric PCL, NVDR | 72,900 | 456,187 | ||||||
Thai Tap Water Supply PCL | 2,166,600 | 647,843 | ||||||
Thai Union Frozen Products PCL, NVDR | 667,200 | 1,413,995 | ||||||
Thai Vegetable Oil PCL, NVDR | 593,000 | 414,954 | ||||||
Thaicom PCL, NVDR | 884,700 | 1,124,965 | ||||||
Thanachart Capital PCL | 2,437,564 | 2,705,065 | ||||||
Thoresen Thai Agencies PCL (a) | 3,739,982 | 2,444,131 | ||||||
Tisco Financial Group PCL | 407,903 | 512,394 | ||||||
VGI Global Media PCL, NVDR | 2,519,656 | 885,452 | ||||||
WHA Corp. PCL, NVDR | 457,200 | 440,428 | ||||||
29,654,225 | ||||||||
TURKEY — 2.1% | ||||||||
Akfen Holding AS | 127,370 | 237,568 | ||||||
Albaraka Turk Katilim Bankasi (a) | 2,150,967 | 1,538,416 | ||||||
Asya Katilim Bankasi AS (a)(b) | 1,081,378 | 712,763 | ||||||
Aygaz AS | 159,875 | 628,529 | ||||||
Dogan Sirketler Grubu Holdings AS (a)(b) | 1,308,791 | 409,915 | ||||||
Dogan Yayin Holding AS (a) | 1,242,840 | 290,492 | ||||||
GSD Holding (a) | 638,996 | 280,785 | ||||||
Ihlas Holding (a) | 3 | 1 | ||||||
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (a) | 1,767,679 | 1,065,962 | ||||||
NET Holding AS | 367,005 | 398,023 | ||||||
Pegasus Hava Tasimaciligi AS (a) | 53,873 | 720,254 | ||||||
Petkim Petrokimya Holding AS (a)(b) | 1,451,656 | 1,750,782 | ||||||
Sekerbank TAS (a) | 1,192,784 | 1,070,561 | ||||||
Sinpas Gayrimenkul Yatirim Ortakligi AS | 3 | 1 | ||||||
TAV Havalimanlari Holding AS | 220,769 | 1,775,069 | ||||||
Tekfen Holding AS (b) | 193,492 | 441,399 | ||||||
Torunlar Gayrimenkul Yatirim Ortakligi AS | 263,233 | 343,315 | ||||||
Turkiye Sinai Kalkinma Bankasi AS | 986,117 | 843,584 | ||||||
Ulker Biskuvi Sanayi AS (b) | 183,071 | 1,287,967 | ||||||
13,795,386 | ||||||||
UNITED ARAB EMIRATES — 0.0% (e) | ||||||||
Exillon Energy PLC (a) | 102,778 | 214,183 | ||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $700,460,208) | 641,712,573 | |||||||
RIGHTS — 0.0% (e) | ||||||||
EGYPT — 0.0% (e) | ||||||||
Egyptian Kuwait Holding Co. (expiring 4/28/14) (a) (Cost $0) | 128,707 | 33,464 | ||||||
WARRANTS — 0.0% (e) | ||||||||
MALAYSIA — 0.0% (e) | ||||||||
KPJ Healthcare Bhd (expiring 01/23/19) (a) | 147,786 | 28,059 | ||||||
THAILAND — 0.0% (e) | ||||||||
Thoresen Thai Agencies PCL (expiring 02/28/17) (a) | 299,052 | 58,538 | ||||||
TOTAL WARRANTS — | ||||||||
(Cost $0) | 86,597 | |||||||
SHORT TERM INVESTMENTS — 6.0% | ||||||||
UNITED STATES — 6.0% | ||||||||
MONEY MARKET FUNDS — 6.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (f)(g) | 36,705,169 | 36,705,169 |
See accompanying notes to financial statements.
241
SPDR S&P Emerging Markets Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (g)(h) | 1,918,115 | $ | 1,918,115 | |||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $38,623,284) | 38,623,284 | |||||||
TOTAL INVESTMENTS — 105.4% | ||||||||
(Cost $739,083,492) | 680,455,918 | |||||||
OTHER ASSETS & LIABILITIES — (5.4)% | (34,576,015 | ) | ||||||
NET ASSETS — 100.0% | $ | 645,879,903 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 3 inputs (Note 2). | |||||
(d) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs (Note 2). | |||||
(e) | Amount shown represents less than 0.05% of net assets. | |||||
(f) | Investments of cash collateral for securities loaned | |||||
(g) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(h) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
242
SPDR Dow Jones Global Real Estate ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.6% | ||||||||
AUSTRALIA — 6.1% | ||||||||
Abacus Property Group | 362,878 | $ | 790,384 | |||||
Astro Japan Property Group | 96,351 | 334,886 | ||||||
BWP Trust | 641,976 | 1,386,386 | ||||||
CFS Retail Property Trust Group | 3,090,952 | 5,414,566 | ||||||
Charter Hall Retail REIT | 375,830 | 1,247,050 | ||||||
Dexus Property Group | 7,026,827 | 6,903,585 | ||||||
Goodman Group | 1,921,599 | 8,424,293 | ||||||
GPT Group | 1,959,006 | 6,645,481 | ||||||
Investa Office Fund | 766,760 | 2,302,576 | ||||||
Westfield Group | 2,429,420 | 23,080,011 | ||||||
Westfield Retail Trust | 3,758,981 | 10,382,357 | ||||||
66,911,575 | ||||||||
AUSTRIA — 0.8% | ||||||||
Atrium European Real Estate, Ltd. (a) | 217,775 | 1,229,107 | ||||||
CA Immobilien Anlagen AG (a)(b) | 89,559 | 1,618,846 | ||||||
IMMOFINANZ AG (a)(b) | 1,332,202 | 6,244,599 | ||||||
9,092,552 | ||||||||
BELGIUM — 0.4% | ||||||||
Befimmo SA (b) | 22,707 | 1,610,487 | ||||||
Cofinimmo | 19,872 | 2,368,838 | ||||||
3,979,325 | ||||||||
BRAZIL — 0.4% | ||||||||
BR Malls Participacoes SA | 568,826 | 4,935,791 | ||||||
CANADA — 4.4% | ||||||||
Artis REIT | 79,177 | 1,128,384 | ||||||
Boardwalk REIT | 31,730 | 1,743,245 | ||||||
Brookfield Asset Management, Inc. (Class A) (b) | 711,105 | 29,011,151 | ||||||
Calloway REIT | 82,320 | 1,921,235 | ||||||
Canadian Apartment Properties REIT | 68,323 | 1,319,725 | ||||||
Canadian REIT | 41,623 | 1,699,614 | ||||||
Chartwell Retirement Residences | 104,544 | 986,005 | ||||||
Crombie Real Estate Investment Trust (c) | 31,884 | 371,229 | ||||||
Crombie Real Estate Investment Trust (c) | 12,654 | 152,823 | ||||||
First Capital Realty, Inc. (b) | 119,164 | 1,894,748 | ||||||
H&R REIT | 166,551 | 3,449,473 | ||||||
RioCan REIT | 185,354 | 4,472,006 | ||||||
48,149,638 | ||||||||
CHINA — 1.2% | ||||||||
Hongkong Land Holdings, Ltd. | 1,478,000 | 9,562,660 | ||||||
Kerry Properties, Ltd. | 922,135 | 3,067,027 | ||||||
12,629,687 | ||||||||
FRANCE — 4.4% | ||||||||
Fonciere Des Regions | 55,265 | 5,121,601 | ||||||
Gecina SA | 33,032 | 4,393,292 | ||||||
Klepierre | 122,967 | 5,504,685 | ||||||
Mercialys SA | 69,160 | 1,448,860 | ||||||
Unibail-Rodamco SE | 121,495 | 31,564,406 | ||||||
48,032,844 | ||||||||
HONG KONG — 3.4% | ||||||||
Champion REIT (b) | 3,281,462 | 1,497,525 | ||||||
Hang Lung Group, Ltd. | 1,064,996 | 5,361,328 | ||||||
Hang Lung Properties, Ltd. | 2,861,018 | 8,224,867 | ||||||
Hysan Development Co., Ltd. | 880,731 | 3,831,956 | ||||||
Prosperity REIT | 1,520,000 | 438,930 | ||||||
The Link REIT | 2,887,682 | 14,201,928 | ||||||
Wheelock & Co., Ltd. | 1,021,016 | 3,988,215 | ||||||
37,544,749 | ||||||||
ITALY — 0.1% | ||||||||
Beni Stabili SpA (b) | 1,006,381 | 866,903 | ||||||
JAPAN — 9.6% | ||||||||
Activia Properties, Inc. | 284 | 2,286,119 | ||||||
Aeon Mall Co., Ltd. | 143,100 | 3,662,782 | ||||||
Daibiru Corp. | 72,200 | 771,180 | ||||||
Daiwa Office Investment Corp. (b) | 298 | 1,442,472 | ||||||
Frontier Real Estate Investment Corp. | 572 | 3,049,260 | ||||||
Fukuoka REIT Corp. (b) | 748 | 1,204,964 | ||||||
Global One Real Estate Investment Co., Ltd. | 220 | 647,279 | ||||||
Hankyu REIT, Inc. | 109 | 552,488 | ||||||
Heiwa Real Estate Co., Ltd. | 45,000 | 720,105 | ||||||
Hulic Co., Ltd. (b) | 477,600 | 6,557,522 | ||||||
Japan Excellent, Inc. (b) | 1,506 | 1,924,451 | ||||||
Japan Prime Realty Investment Corp. | 946 | 3,068,058 | ||||||
Japan Real Estate Investment Corp. | 1,492 | 7,504,549 | ||||||
Japan Retail Fund Investment Corp. | 2,749 | 5,424,060 | ||||||
Kenedix Office Investment Corp. | 367 | 1,824,576 | ||||||
Mitsui Fudosan Co., Ltd. | 1,100,000 | 33,634,995 | ||||||
Mori Hills REIT Investment Corp. (b) | 1,478 | 1,957,559 | ||||||
Mori Trust Sogo REIT, Inc. (b) | 1,220 | 1,842,113 | ||||||
Nippon Building Fund, Inc. | 1,738 | 9,096,296 | ||||||
Nomura Real Estate Office Fund, Inc. | 476 | 2,082,226 | ||||||
NTT Urban Development Corp. | 133,300 | 1,258,121 | ||||||
Orix JREIT, Inc. | 2,267 | 2,835,263 | ||||||
Premier Investment Corp. | 242 | 941,118 | ||||||
Tokyu Fudosan Holdings Corp. | 650,600 | 4,864,417 | ||||||
Tokyu REIT, Inc. (b) | 1,155 | 1,400,782 | ||||||
Top REIT, Inc. | 202 | 918,940 | ||||||
United Urban Investment Corp. | 2,984 | 4,392,624 | ||||||
105,864,319 | ||||||||
NETHERLANDS — 1.0% | ||||||||
Corio NV | 123,750 | 5,657,422 | ||||||
Eurocommercial Properties NV | 45,743 | 2,010,829 | ||||||
VastNed Retail NV | 24,484 | 1,206,217 | ||||||
Wereldhave NV | 27,048 | 2,303,463 | ||||||
11,177,931 | ||||||||
NEW ZEALAND — 0.4% | ||||||||
Argosy Property, Ltd. | 956,731 | 755,485 | ||||||
Goodman Property Trust | 1,247,290 | 1,039,042 | ||||||
Kiwi Income Property Trust | 1,193,699 | 1,154,953 | ||||||
Precinct Properties | 1,076,102 | 933,787 | ||||||
3,883,267 | ||||||||
See accompanying notes to financial statements.
243
SPDR Dow Jones Global Real Estate ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
PHILIPPINES — 0.7% | ||||||||
Ayala Land, Inc. | 7,128,700 | $ | 4,752,997 | |||||
SM Prime Holdings, Inc. | 9,051,900 | 2,946,989 | ||||||
7,699,986 | ||||||||
SINGAPORE — 3.5% | ||||||||
Ascendas REIT | 2,555,969 | 4,593,448 | ||||||
Cambridge Industrial Trust | 1,429,326 | 818,349 | ||||||
CapitaCommercial Trust (b) | 2,805,682 | 3,313,139 | ||||||
CapitaLand, Ltd. | 3,151,500 | 7,242,523 | ||||||
CapitaMall Trust | 3,251,860 | 4,887,293 | ||||||
Frasers Commercial Trust | 635,748 | 634,459 | ||||||
Global Logistic Properties, Ltd. | 3,820,000 | 8,049,779 | ||||||
Guocoland, Ltd. (b) | 433,999 | 755,801 | ||||||
Mapletree Logistics Trust | 1,871,022 | 1,554,784 | ||||||
Singapore Land, Ltd. (b) | 103,000 | 772,367 | ||||||
Starhill Global REIT | 1,714,524 | 1,077,074 | ||||||
Suntec REIT | 2,833,274 | 3,739,998 | ||||||
United Industrial Corp., Ltd. | 322,000 | 806,568 | ||||||
38,245,582 | ||||||||
SOUTH AFRICA — 0.7% | ||||||||
Capital Property Fund | 1,989,403 | 1,982,234 | ||||||
Fountainhead Property Trust | 1,436,014 | 1,026,709 | ||||||
Growthpoint Properties, Ltd. | 1,757,477 | 4,077,091 | ||||||
SA Corporate Real Estate Fund | 1,755,786 | 667,733 | ||||||
Sycom Property Fund | 188,278 | 411,717 | ||||||
8,165,484 | ||||||||
SPAIN — 0.0% (d) | ||||||||
Martinsa-Fadesa SA (a)(e)(f) | 178 | 0 | ||||||
SWEDEN — 1.1% | ||||||||
Castellum AB | 215,451 | 3,575,592 | ||||||
Fabege AB (b) | 176,199 | 2,293,681 | ||||||
Great Portland Estates PLC | 432,065 | 4,545,201 | ||||||
Kungsleden AB | 175,568 | 1,448,726 | ||||||
11,863,200 | ||||||||
SWITZERLAND — 1.0% | ||||||||
PSP Swiss Property AG (a) | 48,432 | 4,556,177 | ||||||
Swiss Prime Site AG (a) | 75,966 | 6,462,722 | ||||||
11,018,899 | ||||||||
THAILAND — 0.2% | ||||||||
Central Pattana PCL NVDR | 1,668,037 | 2,416,700 | ||||||
UNITED KINGDOM — 6.0% | ||||||||
Big Yellow Group PLC | 155,468 | 1,416,465 | ||||||
British Land Co. PLC | 1,246,675 | 13,592,699 | ||||||
Capital & Counties Properties PLC | 832,172 | 4,855,745 | ||||||
Derwent London PLC | 107,638 | 4,863,060 | ||||||
Grainger PLC | 521,856 | 2,096,730 | ||||||
Hammerson PLC | 894,547 | 8,262,047 | ||||||
Intu Properties PLC | 865,957 | 4,071,178 | ||||||
Land Securities Group PLC | 974,836 | 16,593,271 | ||||||
Segro PLC | 933,095 | 5,164,623 | ||||||
Shaftesbury PLC | 347,188 | 3,808,600 | ||||||
Workspace Group PLC | 135,587 | 1,339,310 | ||||||
66,063,728 | ||||||||
UNITED STATES — 54.2% | ||||||||
Acadia Realty Trust | 68,737 | 1,813,282 | ||||||
Alexandria Real Estate Equities, Inc. | 89,949 | 6,526,699 | ||||||
American Campus Communities, Inc. | 131,842 | 4,924,299 | ||||||
American Homes 4 Rent (Class A) | 57,143 | 954,859 | ||||||
Apartment Investment & Management Co. (Class A) | 183,658 | 5,550,145 | ||||||
Ashford Hospitality Prime, Inc. | 26,314 | 397,868 | ||||||
Ashford Hospitality Trust, Inc. (b) | 86,780 | 978,011 | ||||||
Associated Estates Realty Corp. | 71,155 | 1,205,366 | ||||||
AvalonBay Communities, Inc. | 151,982 | 19,958,276 | ||||||
BioMed Realty Trust, Inc. | 240,824 | 4,934,484 | ||||||
Boston Properties, Inc. | 191,170 | 21,894,700 | ||||||
Brandywine Realty Trust (b) | 196,496 | 2,841,332 | ||||||
BRE Properties, Inc. | 97,086 | 6,095,059 | ||||||
Camden Property Trust | 106,969 | 7,203,292 | ||||||
CBL & Associates Properties, Inc. (b) | 214,346 | 3,804,641 | ||||||
Cedar Realty Trust, Inc. (b) | 88,703 | 541,975 | ||||||
Columbia Property Trust, Inc. | 155,724 | 4,243,479 | ||||||
CommonWealth REIT (b) | 139,816 | 3,677,161 | ||||||
Corporate Office Properties Trust | 110,315 | 2,938,792 | ||||||
Cousins Properties, Inc. | 230,569 | 2,644,626 | ||||||
CubeSmart (b) | 162,179 | 2,782,992 | ||||||
DCT Industrial Trust, Inc. | 395,425 | 3,115,949 | ||||||
DDR Corp. (b) | 364,731 | 6,010,767 | ||||||
DiamondRock Hospitality Co. | 244,597 | 2,874,015 | ||||||
Digital Realty Trust, Inc. (b) | 161,225 | 8,557,823 | ||||||
Douglas Emmett, Inc. | 163,142 | 4,427,674 | ||||||
Duke Realty Corp. | 408,523 | 6,895,868 | ||||||
DuPont Fabros Technology, Inc. (b) | 80,980 | 1,949,189 | ||||||
EastGroup Properties, Inc. (b) | 38,376 | 2,414,234 | ||||||
Education Realty Trust, Inc. | 142,507 | 1,406,544 | ||||||
Equity Lifestyle Properties, Inc. | 99,243 | 4,034,228 | ||||||
Equity One, Inc. (b) | 79,705 | 1,780,610 | ||||||
Equity Residential | 419,560 | 24,330,284 | ||||||
Essex Property Trust, Inc. (b) | 48,245 | 8,204,062 | ||||||
Extra Space Storage, Inc. | 138,106 | 6,699,522 | ||||||
Federal Realty Investment Trust (b) | 83,471 | 9,575,793 | ||||||
FelCor Lodging Trust, Inc. (b) | 136,027 | 1,229,684 | ||||||
First Industrial Realty Trust, Inc. | 125,847 | 2,431,364 | ||||||
First Potomac Realty Trust (b) | 73,787 | 953,328 | ||||||
Forest City Enterprises, Inc. (Class A) (a)(b) | 198,232 | 3,786,231 | ||||||
Franklin Street Properties Corp. | 108,282 | 1,364,353 | ||||||
General Growth Properties, Inc. | 651,461 | 14,332,142 | ||||||
Glimcher Realty Trust | 181,774 | 1,823,193 | ||||||
HCP, Inc. | 571,254 | 22,158,943 | ||||||
Health Care REIT, Inc. | 363,969 | 21,692,552 | ||||||
Healthcare Realty Trust, Inc. | 119,925 | 2,896,189 | ||||||
Hersha Hospitality Trust | 246,274 | 1,435,777 | ||||||
Highwoods Properties, Inc. (b) | 112,895 | 4,336,297 | ||||||
Home Properties, Inc. (b) | 71,264 | 4,284,392 | ||||||
Hospitality Properties Trust | 186,271 | 5,349,703 | ||||||
Host Hotels & Resorts, Inc. | 945,553 | 19,137,993 | ||||||
Inland Real Estate Corp. (b) | 103,561 | 1,092,569 | ||||||
Kilroy Realty Corp. | 103,037 | 6,035,907 | ||||||
Kimco Realty Corp. | 512,070 | 11,204,092 | ||||||
Kite Realty Group Trust | 165,295 | 991,770 | ||||||
LaSalle Hotel Properties | 129,928 | 4,068,046 | ||||||
Liberty Property Trust | 183,987 | 6,800,159 |
See accompanying notes to financial statements.
244
SPDR Dow Jones Global Real Estate ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
LTC Properties, Inc. | 44,048 | $ | 1,657,526 | |||||
Mack-Cali Realty Corp. | 110,345 | 2,294,073 | ||||||
Mid-America Apartment Communities, Inc. | 93,789 | 6,402,975 | ||||||
Parkway Properties, Inc. | 86,715 | 1,582,549 | ||||||
Pebblebrook Hotel Trust (b) | 79,605 | 2,688,261 | ||||||
Pennsylvania Real Estate Investment Trust | 85,913 | 1,550,730 | ||||||
Piedmont Office Realty Trust, Inc. (Class A) | 192,786 | 3,306,280 | ||||||
Post Properties, Inc. | 68,339 | 3,355,445 | ||||||
ProLogis | 624,301 | 25,490,210 | ||||||
PS Business Parks, Inc. | 24,943 | 2,085,734 | ||||||
Public Storage | 180,705 | 30,446,985 | ||||||
Ramco-Gershenson Properties Trust (b) | 83,960 | 1,368,548 | ||||||
Regency Centers Corp. | 116,126 | 5,929,394 | ||||||
Rouse Properties, Inc. | 44,033 | 759,129 | ||||||
Saul Centers, Inc. | 15,433 | 730,907 | ||||||
Senior Housing Properties Trust | 236,740 | 5,319,548 | ||||||
Simon Property Group, Inc. | 393,326 | 64,505,464 | ||||||
SL Green Realty Corp. | 119,724 | 12,046,629 | ||||||
Sovran Self Storage, Inc. | 40,125 | 2,947,181 | ||||||
Sun Communities, Inc. (b) | 46,971 | 2,117,922 | ||||||
Sunstone Hotel Investors, Inc. | 230,713 | 3,167,689 | ||||||
Tanger Factory Outlet Centers, Inc. (b) | 118,700 | 4,154,500 | ||||||
Taubman Centers, Inc. | 79,616 | 5,636,017 | ||||||
The Macerich Co. | 176,357 | 10,992,332 | ||||||
UDR, Inc. | 314,727 | 8,129,398 | ||||||
Universal Health Realty Income Trust | 15,504 | 654,889 | ||||||
Ventas, Inc. | 367,726 | 22,273,164 | ||||||
Vornado Realty Trust | 217,659 | 21,452,471 | ||||||
Washington Real Estate Investment Trust (b) | 82,954 | 1,980,941 | ||||||
Weingarten Realty Investors (b) | 141,058 | 4,231,741 | ||||||
594,851,216 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $1,010,829,428) | 1,093,393,376 | |||||||
RIGHTS — 0.0% (d) | ||||||||
UNITED KINGDOM — 0.0% (d) | ||||||||
Intu Properties PLC (expiring 4/17/14) (a) (Cost $0) | 244,885 | 387,848 | ||||||
SHORT TERM INVESTMENTS — 5.6% | ||||||||
UNITED STATES — 5.6% | ||||||||
MONEY MARKET FUNDS — 5.6% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (g)(h) | 49,574,378 | 49,574,378 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (h)(i) | 11,885,852 | 11,885,852 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $61,460,230) | 61,460,230 | |||||||
TOTAL INVESTMENTS — 105.2% | ||||||||
(Cost $1,072,289,658) | 1,155,241,454 | |||||||
OTHER ASSETS & LIABILITIES — (5.2)% | (57,275,463 | ) | ||||||
NET ASSETS — 100.0% | $ | 1,097,965,991 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Securities are valued at fair value as determined in good faith by the Trust’s Oversight Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs (Note 2). | |||||
(f) | Company has filed for insolvency. | |||||
(g) | Investments of cash collateral for securities loaned | |||||
(h) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(i) | The rate shown is the annualized seven-day yield at period end. |
NVDR = Non Voting Depositary Receipt
PCL = Public Company Limited
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
245
SPDR S&P International Consumer Discretionary Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.1% | ||||||||
AUSTRALIA — 2.0% | ||||||||
Aristocrat Leisure, Ltd. | 13,078 | $ | 65,213 | |||||
Crown Resorts, Ltd. | 11,718 | 180,616 | ||||||
Fairfax Media, Ltd. (a) | 55,200 | 46,813 | ||||||
Tatts Group, Ltd. | 33,888 | 91,086 | ||||||
383,728 | ||||||||
BELGIUM — 0.3% | ||||||||
S.A. D’Ieteren NV | 1,152 | 54,031 | ||||||
CANADA — 4.7% | ||||||||
Canadian Tire Corp., Ltd. (Class A) | 1,582 | 149,392 | ||||||
Gildan Activewear, Inc. | 1,921 | 96,959 | ||||||
Magna International, Inc. (Class A) | 2,847 | 274,137 | ||||||
Shaw Communications, Inc. (Class B) (a) | 5,240 | 125,333 | ||||||
Thomson Reuters Corp. (a) | 5,242 | 179,475 | ||||||
Tim Hortons, Inc. | 1,757 | 97,326 | ||||||
922,622 | ||||||||
FINLAND — 0.4% | ||||||||
Nokian Renkaat Oyj (a) | 1,405 | 56,834 | ||||||
Sanoma Oyj | 3,573 | 24,918 | ||||||
81,752 | ||||||||
FRANCE — 10.0% | ||||||||
Accor SA | 2,065 | 105,775 | ||||||
Christian Dior SA | 474 | 91,297 | ||||||
Compagnie Generale des Etablissements Michelin | 2,093 | 261,871 | ||||||
Havas SA | 8,611 | 64,491 | ||||||
Hermes International | 245 | 81,582 | ||||||
Kering | 886 | 180,788 | ||||||
Lagardere SCA | 1,632 | 64,825 | ||||||
LVMH Moet Hennessy Louis Vuitton SA | 2,313 | 420,642 | ||||||
Peugeot SA (a)(b) | 3,417 | 64,496 | ||||||
Publicis Groupe SA | 1,319 | 119,219 | ||||||
Renault SA | 1,982 | 192,694 | ||||||
Sodexo | 1,475 | 154,766 | ||||||
Valeo SA | 1,185 | 166,997 | ||||||
1,969,443 | ||||||||
GERMANY — 12.0% | ||||||||
Adidas AG | 2,320 | 251,135 | ||||||
Bayerische Motoren Werke AG | 3,296 | 416,203 | ||||||
Continental AG | 677 | 162,262 | ||||||
Daimler AG | 8,421 | 796,072 | ||||||
Kabel Deutschland Holding AG | 380 | 52,221 | ||||||
Porsche Automobil Holding SE Preference Shares | 972 | 99,845 | ||||||
ProSiebenSat.1 Media AG | 1,454 | 66,572 | ||||||
TUI AG (a) | 3,432 | 57,235 | ||||||
Volkswagen AG | 464 | 117,669 | ||||||
Volkswagen AG Preference Shares | 1,295 | 335,727 | ||||||
2,354,941 | ||||||||
HONG KONG — 3.7% | ||||||||
Esprit Holdings, Ltd. | 16,182 | 26,911 | ||||||
Galaxy Entertainment Group, Ltd. (b) | 20,000 | 173,906 | ||||||
Giordano International, Ltd. (a) | 100,000 | 64,458 | ||||||
Li & Fung, Ltd. (a) | 78,000 | 115,235 | ||||||
Sands China, Ltd. | 30,400 | 227,107 | ||||||
Shangri-La Asia, Ltd. | 20,500 | 33,563 | ||||||
SJM Holdings, Ltd. | 30,000 | 84,310 | ||||||
725,490 | ||||||||
ITALY — 1.7% | ||||||||
Fiat SpA (b) | 9,110 | 106,097 | ||||||
Gtech Spa | 3,013 | 91,566 | ||||||
Mediaset SpA (b) | 10,305 | 57,635 | ||||||
Pirelli & C. SpA | 4,402 | 69,165 | ||||||
324,463 | ||||||||
JAPAN — 31.5% | ||||||||
Aisin Seiki Co., Ltd. | 2,900 | 104,894 | ||||||
Aoyama Trading Co., Ltd. | 5,000 | 131,573 | ||||||
Asics Corp. | 1,000 | 19,702 | ||||||
Benesse Holdings, Inc. | 2,000 | 76,613 | ||||||
Bookoff Corp. | 1,900 | 13,117 | ||||||
Bridgestone Corp. | 7,900 | 280,759 | ||||||
Can Do Co., Ltd. | 1,000 | 16,002 | ||||||
Casio Computer Co., Ltd. | 4,900 | 58,095 | ||||||
Denso Corp. | 3,900 | 187,379 | ||||||
Dentsu, Inc. | 3,900 | 148,259 | ||||||
Fast Retailing Co., Ltd. | 988 | 359,137 | ||||||
Fuji Corp., Ltd. | 3,900 | 25,524 | ||||||
Fuji Heavy Industries, Ltd. | 10,000 | 271,107 | ||||||
GLOBERIDE, Inc. | 10,000 | 13,012 | ||||||
Gunze, Ltd. | 19,000 | 50,551 | ||||||
Haseko Corp. | 2,100 | 13,173 | ||||||
Honda Motor Co., Ltd. | 13,600 | 479,899 | ||||||
Isetan Mitsukoshi Holdings, Ltd. | 6,600 | 81,647 | ||||||
Isuzu Motors, Ltd. | 20,000 | 115,162 | ||||||
Kappa Create Holdings Co., Ltd. (b) | 1,000 | 9,564 | ||||||
Kyoritsu Maintenance Co., Ltd. | 600 | 20,275 | ||||||
Mazda Motor Corp. | 23,000 | 102,287 | ||||||
Mitsubishi Motors Corp. | 3,900 | 40,899 | ||||||
Namco Bandai Holdings, Inc. | 4,900 | 116,237 | ||||||
Nikon Corp. | 4,900 | 79,078 | ||||||
Nissan Motor Co., Ltd. | 19,200 | 171,520 | ||||||
Oriental Land Co., Ltd. | 1,000 | 152,449 | ||||||
Panasonic Corp. | 17,000 | 193,630 | ||||||
PARIS MIKI HOLDINGS, Inc. | 5,000 | 24,227 | ||||||
Pioneer Corp. (b) | 4,000 | 8,584 | ||||||
Rakuten, Inc. | 7,900 | 105,630 | ||||||
Resorttrust, Inc. | 10,000 | 155,071 | ||||||
Ringer Hut Co., Ltd. | 1,600 | 22,963 | ||||||
Sanrio Co., Ltd. | 600 | 20,275 | ||||||
Sanyo Housing Nagoya Co., Ltd. | 2,100 | 20,147 | ||||||
Sega Sammy Holdings, Inc. | 900 | 20,205 | ||||||
Sekisui Chemical Co., Ltd. | 10,000 | 104,190 | ||||||
Sekisui House, Ltd. | 10,000 | 124,387 | ||||||
Sharp Corp. (b) | 10,000 | 30,490 | ||||||
Shimano, Inc. | 2,000 | 201,389 | ||||||
Sony Corp. | 8,900 | 170,421 | ||||||
Stanley Electric Co., Ltd. | 3,000 | 66,738 | ||||||
Suminoe Textile Co., Ltd. | 9,000 | 27,965 | ||||||
Sumitomo Forestry Co., Ltd. | 8,600 | 86,597 | ||||||
Suzuki Motor Corp. | 4,600 | 120,332 | ||||||
Toyota Industries Corp. | 2,600 | 125,222 | ||||||
Toyota Motor Corp. | 23,600 | 1,335,084 | ||||||
Yamada Denki Co., Ltd. | 12,600 | 42,088 |
See accompanying notes to financial statements.
246
SPDR S&P International Consumer Discretionary Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Yamaha Motor Co., Ltd. | 2,000 | $ | 31,946 | |||||
6,175,495 | ||||||||
LUXEMBOURG — 0.7% | ||||||||
SES SA | 3,573 | 133,478 | ||||||
MACAU — 0.4% | ||||||||
Wynn Macau, Ltd. | 19,600 | 81,361 | ||||||
NETHERLANDS — 1.9% | ||||||||
Reed Elsevier NV | 10,217 | 220,870 | ||||||
Wolters Kluwer NV | 5,716 | 161,343 | ||||||
382,213 | ||||||||
NORWAY — 0.7% | ||||||||
Schibsted ASA | 2,210 | 137,169 | ||||||
SINGAPORE — 0.8% | ||||||||
Genting Singapore PLC (a) | 60,000 | 63,695 | ||||||
Singapore Press Holdings, Ltd. (a) | 30,000 | 100,195 | ||||||
163,890 | ||||||||
SOUTH KOREA — 5.3% | ||||||||
Cheil Communications, Inc. (b) | 1,330 | 29,925 | ||||||
Coway Co., Ltd. | 434 | 30,457 | ||||||
Credu Corp. | 206 | 9,309 | ||||||
Fila Korea, Ltd. | 120 | 9,932 | ||||||
Gwangju Shinsegae Co., Ltd. | 38 | 8,639 | ||||||
Hanil E-Wha Co., Ltd. | 1,540 | 29,875 | ||||||
Hankook Tire Co., Ltd. | 1,124 | 63,779 | ||||||
Hotel Shilla Co., Ltd. | 186 | 15,045 | ||||||
Hyundai Department Store Co., Ltd. | 64 | 8,538 | ||||||
Hyundai Engineering Plastics Co., Ltd. | 1,670 | 10,982 | ||||||
Hyundai Mobis | 602 | 178,148 | ||||||
Hyundai Motor Co. | 1,690 | 398,506 | ||||||
Hyundai Wia Corp. | 68 | 10,924 | ||||||
Kia Motors Corp. | 2,447 | 136,321 | ||||||
LG Electronics, Inc. | 726 | 44,265 | ||||||
Lotte Shopping Co., Ltd. | 97 | 30,527 | ||||||
Mando Corp. | 59 | 7,483 | ||||||
Woongjin Chemical Co., Ltd. (b) | 1,272 | 16,730 | ||||||
1,039,385 | ||||||||
SPAIN — 1.7% | ||||||||
Industria de Diseno Textil SA | 1,946 | 292,078 | ||||||
NH Hoteles SA (b) | 5,218 | 37,109 | ||||||
329,187 | ||||||||
SWEDEN — 2.4% | ||||||||
Electrolux AB (a) | 4,852 | 105,668 | ||||||
Hennes & Mauritz AB (Class B) | 8,387 | 357,028 | ||||||
462,696 | ||||||||
SWITZERLAND — 3.6% | ||||||||
Cie Financiere Richemont SA | 4,594 | 438,935 | ||||||
The Swatch Group AG | 434 | 272,187 | ||||||
711,122 | ||||||||
UNITED KINGDOM — 15.3% | ||||||||
British Sky Broadcasting Group PLC | 13,267 | 201,938 | ||||||
Burberry Group PLC | 5,278 | 122,749 | ||||||
Carnival PLC | 2,655 | 101,096 | ||||||
Compass Group PLC | 20,241 | 308,765 | ||||||
GKN PLC | 18,350 | 119,401 | ||||||
Home Retail Group PLC | 14,645 | 52,884 | ||||||
Informa PLC | 10,117 | 89,140 | ||||||
ITV PLC | 43,184 | 137,869 | ||||||
Kingfisher PLC | 35,444 | 249,007 | ||||||
Marks & Spencer Group PLC | 19,010 | 143,092 | ||||||
Next PLC | 3,209 | 353,092 | ||||||
Ocado Group PLC (b) | 3,377 | 25,932 | ||||||
Pearson PLC | 11,307 | 200,381 | ||||||
Reed Elsevier PLC | 13,870 | 211,810 | ||||||
Thomas Cook Group PLC (b) | 8,752 | 26,307 | ||||||
Tui Travel PLC | 15,651 | 114,285 | ||||||
Whitbread PLC | 3,641 | 252,637 | ||||||
WPP PLC | 13,810 | 284,799 | ||||||
2,995,184 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $17,892,307) | 19,427,650 | |||||||
SHORT TERM INVESTMENTS — 3.1% | ||||||||
UNITED STATES — 3.1% | ||||||||
MONEY MARKET FUNDS — 3.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 516,580 | 516,580 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 89,768 | 89,768 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $606,348) | 606,348 | |||||||
TOTAL INVESTMENTS — 102.2% | ||||||||
(Cost $18,498,655) | 20,033,998 | |||||||
OTHER ASSETS & LIABILITIES — (2.2)% | (437,688 | ) | ||||||
NET ASSETS — 100.0% | $ | 19,596,310 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
SCA = Societe en Commandite par Actions
See accompanying notes to financial statements.
247
SPDR S&P International Consumer Staples Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.2% | ||||||||
AUSTRALIA — 6.3% | ||||||||
Coca-Cola Amatil, Ltd. (a) | 16,053 | $ | 164,113 | |||||
Treasury Wine Estates, Ltd. | 20,090 | 65,730 | ||||||
Wesfarmers, Ltd. (a) | 28,984 | 1,106,521 | ||||||
Woolworths, Ltd. | 31,799 | 1,052,772 | ||||||
2,389,136 | ||||||||
BELGIUM — 5.7% | ||||||||
Anheuser-Busch InBev NV | 18,622 | 1,953,165 | ||||||
Delhaize Group | 2,967 | 216,935 | ||||||
2,170,100 | ||||||||
CANADA — 2.3% | ||||||||
Alimentation Couche-Tard, Inc. (Class B) | 2,233 | 180,886 | ||||||
Loblaw Cos., Ltd. (a) | 6,509 | 276,577 | ||||||
Metro, Inc., (Class A) | 100 | 5,880 | ||||||
Shoppers Drug Mart Corp. | 6,537 | 360,268 | ||||||
SunOpta, Inc. (a)(b) | 3,077 | 36,339 | ||||||
859,950 | ||||||||
DENMARK — 0.9% | ||||||||
Carlsberg A/S (Class B) | 3,273 | 325,669 | ||||||
FINLAND — 0.4% | ||||||||
Kesko Oyj (Class B) | 3,368 | 147,010 | ||||||
FRANCE — 8.9% | ||||||||
Carrefour SA | 13,913 | 538,738 | ||||||
Casino Guichard-Perrachon SA | 2,328 | 277,156 | ||||||
Danone | 14,419 | 1,020,080 | ||||||
L’Oreal SA | 5,637 | 929,972 | ||||||
Pernod Ricard SA | 5,075 | 591,045 | ||||||
3,356,991 | ||||||||
GERMANY — 2.8% | ||||||||
Beiersdorf AG | 3,629 | 354,118 | ||||||
Henkel AG & Co. KGaA | 244 | 24,533 | ||||||
Henkel AG & Co. KGaA Preference Shares | 6,093 | 656,026 | ||||||
Metro AG | 710 | 28,990 | ||||||
1,063,667 | ||||||||
HONG KONG — 0.5% | ||||||||
Pacific Andes International Holdings, Ltd. | 1,358,346 | 53,409 | ||||||
Vitasoy International Holdings, Ltd. | 104,000 | 150,965 | ||||||
204,374 | ||||||||
IRELAND — 0.9% | ||||||||
C&C Group PLC | 1,370 | 8,929 | ||||||
Glanbia PLC | 1,701 | 26,117 | ||||||
Greencore Group PLC | 8,639 | 39,708 | ||||||
Kerry Group PLC (Class A) | 3,400 | 259,654 | ||||||
334,408 | ||||||||
JAPAN — 14.0% | ||||||||
Aeon Co., Ltd. | 20,805 | 234,949 | ||||||
Ajinomoto Co., Inc. | 18,728 | 268,231 | ||||||
Asahi Breweries, Ltd. | 15,482 | 434,311 | ||||||
Calbee, Inc. | 2,000 | 47,172 | ||||||
Coca-Cola East Japan Co., Ltd. | 400 | 10,060 | ||||||
Euglena Co., Ltd. (b) | 1,900 | 18,744 | ||||||
FamilyMart Co., Ltd. | 1,800 | 79,264 | ||||||
Fuji Oil Co., Ltd. | 1,400 | 17,972 | ||||||
Fujicco Co., Ltd. | 4,000 | 48,279 | ||||||
Hokuto Corp. | 1,500 | 31,272 | ||||||
Japan Tobacco, Inc. | 24,278 | 763,808 | ||||||
Kao Corp. | 16,508 | 586,199 | ||||||
Kewpie Corp. | 3,700 | 51,053 | ||||||
KEY Coffee, Inc. | 3,300 | 50,853 | ||||||
Kikkoman Corp. | 4,000 | 75,623 | ||||||
Kirin Holdings Co., Ltd. | 18,675 | 259,312 | ||||||
Lawson, Inc. | 3,724 | 263,972 | ||||||
Lion Corp. | 18,000 | 106,792 | ||||||
Matsumotokiyoshi Holdings Co., Ltd. | 200 | 6,380 | ||||||
MEIJI Holdings Co., Ltd. | 1,800 | 113,784 | ||||||
Nichirei Corp. | 34,388 | 145,586 | ||||||
Nippon Meat Packers, Inc. | 3,000 | 44,773 | ||||||
Oenon Holdings, Inc. | 37,351 | 91,396 | ||||||
Pigeon Corp. | 500 | 22,625 | ||||||
Seven & I Holdings Co., Ltd. | 18,675 | 715,193 | ||||||
Shiseido Co., Ltd. | 15,193 | 267,908 | ||||||
Suntory Beverage & Food Ltd. | 500 | 17,260 | ||||||
Takara Holdings, Inc. | 2,000 | 15,284 | ||||||
Toyo Suisan Kaisha, Ltd. | 2,000 | 66,903 | ||||||
Unicharm Corp. | 3,700 | 198,069 | ||||||
UNY Group Holdings Co., Ltd. | 15,000 | 89,430 | ||||||
Yakult Honsha Co., Ltd. | 2,768 | 139,226 | ||||||
Yamazaki Baking Co., Ltd. | 3,000 | 35,597 | ||||||
5,317,280 | ||||||||
LUXEMBOURG — 0.1% | ||||||||
Oriflame Cosmetics SA SDR (a) | 1,127 | 27,290 | ||||||
NETHERLANDS — 7.2% | ||||||||
Heineken NV | 6,247 | 434,973 | ||||||
Koninklijke Ahold NV | 29,271 | 588,193 | ||||||
Unilever NV | 41,414 | 1,702,947 | ||||||
2,726,113 | ||||||||
NORWAY — 0.3% | ||||||||
Marine Harvest (a) | 11,351 | 128,544 | ||||||
SINGAPORE — 1.1% | ||||||||
Golden Agri-Resources, Ltd. | 247,075 | 112,972 | ||||||
Olam International, Ltd. (a) | 52,590 | 92,839 | ||||||
Wilmar International, Ltd. | 76,000 | 209,105 | ||||||
414,916 | ||||||||
SOUTH KOREA — 2.3% | ||||||||
Able C&C Co., Ltd. | 272 | 8,381 | ||||||
Amorepacific Corp. | 41 | 48,532 | ||||||
AMOREPACIFIC Group | 37 | 17,797 | ||||||
Binggrae Co., Ltd. | 180 | 15,557 | ||||||
CJ CheilJedang Corp. | 141 | 38,017 | ||||||
Crown Confectionery Co., Ltd. | 100 | 31,096 | ||||||
Dae Han Flour Mills Co., Ltd. | 180 | 24,435 | ||||||
Daesang Corp. | 880 | 33,730 | ||||||
Dongsuh Co., Inc. | 1,792 | 26,599 | ||||||
Dongwon Industries Co., Ltd. | 72 | 21,916 | ||||||
E-Mart Co., Ltd. | 378 | 86,648 | ||||||
KT&G Corp. | 2,611 | 196,233 | ||||||
LG Household & Health Care, Ltd. | 194 | 83,746 |
See accompanying notes to financial statements.
248
SPDR S&P International Consumer Staples Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Lotte Confectionery Co., Ltd. | 16 | $ | 27,402 | |||||
Lotte Samkang Co., Ltd. | 49 | 36,366 | ||||||
Maeil Dairy Industry Co., Ltd. | 658 | 27,106 | ||||||
Namyang Dairy Products Co., Ltd. | 18 | 14,627 | ||||||
NongShim Co., Ltd. | 68 | 19,069 | ||||||
ORION Corp. | 77 | 59,245 | ||||||
Ottogi Corp. | 85 | 29,865 | ||||||
Sajo Industries Co., Ltd. (b) | 360 | 10,755 | ||||||
857,122 | ||||||||
SPAIN — 0.6% | ||||||||
Ebro Puleva SA (a) | 9,843 | 227,775 | ||||||
SWEDEN — 1.1% | ||||||||
Svenska Cellulosa AB | 794 | 23,342 | ||||||
Svenska Cellulosa AB (Class B) | 6,929 | 203,588 | ||||||
Swedish Match AB | 6,028 | 196,639 | ||||||
423,569 | ||||||||
SWITZERLAND — 16.0% | ||||||||
Coca-Cola HBC AG (b) | 3,237 | 80,625 | ||||||
Lindt & Spruengli AG | 76 | 377,010 | ||||||
Nestle SA | 74,196 | 5,589,793 | ||||||
6,047,428 | ||||||||
UNITED KINGDOM — 27.8% | ||||||||
Associated British Foods PLC | 4,497 | 208,496 | ||||||
British American Tobacco PLC | 43,438 | 2,415,491 | ||||||
Diageo PLC | 58,739 | 1,822,417 | ||||||
Imperial Tobacco Group PLC | 23,060 | 931,510 | ||||||
J Sainsbury PLC (a) | 40,353 | 212,655 | ||||||
Reckitt Benckiser Group PLC | 16,123 | 1,313,599 | ||||||
SABMiller PLC | 20,172 | 1,007,211 | ||||||
Tate & Lyle PLC | 14,365 | 159,857 | ||||||
Tesco PLC | 185,734 | 914,696 | ||||||
Unilever PLC | 30,512 | 1,302,732 | ||||||
William Morrison Supermarkets PLC | 63,079 | 223,995 | ||||||
10,512,659 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $32,899,557) | 37,534,001 | |||||||
SHORT TERM INVESTMENTS — 5.0% | ||||||||
UNITED STATES — 5.0% | ||||||||
MONEY MARKET FUNDS — 5.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 1,686,812 | 1,686,812 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 198,212 | 198,212 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $1,885,024) | 1,885,024 | |||||||
TOTAL INVESTMENTS — 104.2% | ||||||||
(Cost $34,784,581) | 39,419,025 | |||||||
OTHER ASSETS & LIABILITIES — (4.2)% | (1,594,201 | ) | ||||||
NET ASSETS — 100.0% | $ | 37,824,824 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
SDR = Swedish Depositary Receipt
See accompanying notes to financial statements.
249
SPDR S&P International Energy Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.2% | ||||||||
AUSTRALIA — 4.3% | ||||||||
Aurora Oil & Gas, Ltd. (a) | 2,951 | $ | 11,214 | |||||
Karoon Gas Australia, Ltd. (a) | 1,552 | 3,682 | ||||||
Origin Energy, Ltd. | 11,143 | 147,586 | ||||||
Paladin Energy, Ltd. (a)(b) | 8,689 | 3,745 | ||||||
Santos, Ltd. | 8,514 | 106,531 | ||||||
Whitehaven Coal, Ltd. (a)(b) | 3,661 | 5,616 | ||||||
Woodside Petroleum, Ltd. | 6,658 | 240,791 | ||||||
WorleyParsons, Ltd. | 3,589 | 50,363 | ||||||
569,528 | ||||||||
AUSTRIA — 0.6% | ||||||||
OMV AG | 1,777 | 80,663 | ||||||
CANADA — 28.5% | ||||||||
AltaGas, Ltd. (b) | 1,100 | 45,146 | ||||||
ARC Resources, Ltd. (b) | 2,663 | 73,466 | ||||||
Athabasca Oil Corp. (a)(b) | 5,296 | 38,194 | ||||||
Baytex Energy Corp. (b) | 1,082 | 44,623 | ||||||
Bonavista Energy Corp. (b) | 3,094 | 45,327 | ||||||
Bonterra Energy Corp. | 300 | 14,558 | ||||||
Cameco Corp. (b) | 5,263 | 120,685 | ||||||
Canadian Natural Resources, Ltd. | 10,705 | 410,936 | ||||||
Canadian Oil Sands, Ltd. | 4,433 | 93,138 | ||||||
Cenovus Energy, Inc. | 7,693 | 222,827 | ||||||
Crescent Point Energy Corp. (b) | 3,624 | 132,483 | ||||||
Enbridge, Inc. | 8,081 | 367,608 | ||||||
EnCana Corp. | 9,193 | 196,645 | ||||||
Enerplus Corp. (b) | 2,925 | 58,566 | ||||||
Ensign Energy Services, Inc. | 1,200 | 17,765 | ||||||
Gibson Energy, Inc. (b) | 1,145 | 29,741 | ||||||
Gran Tierra Energy, Inc. (a) | 2,178 | 16,378 | ||||||
Husky Energy, Inc. (b) | 3,316 | 99,623 | ||||||
Imperial Oil, Ltd. | 2,370 | 110,539 | ||||||
InterOil Corp. (a)(b) | 344 | 22,277 | ||||||
Keyera Corp. (b) | 556 | 35,307 | ||||||
Lightstream Resources, Ltd. (b) | 1,506 | 7,668 | ||||||
MEG Energy Corp. (a) | 1,180 | 39,941 | ||||||
Mullen Group, Ltd. (b) | 900 | 22,627 | ||||||
Niko Resources, Ltd. (a)(b) | 989 | 1,927 | ||||||
Pacific Rubiales Energy Corp. | 2,802 | 50,544 | ||||||
Paramount Resources, Ltd. (Class A) (a) | 334 | 14,431 | ||||||
Pason Systems, Inc. (b) | 600 | 15,199 | ||||||
Pembina Pipeline Corp. (b) | 2,671 | 101,589 | ||||||
Pengrowth Energy Corp. (b) | 4,675 | 28,336 | ||||||
Penn West Petroleum, Ltd. | 3,510 | 29,344 | ||||||
Peyto Exploration & Development Corp. (b) | 1,224 | 41,830 | ||||||
Precision Drilling Corp. | 5,345 | 64,116 | ||||||
Secure Energy Services, Inc. | 1,033 | 17,773 | ||||||
ShawCor, Ltd. (Class A) | 556 | 23,222 | ||||||
Suncor Energy, Inc. | 13,691 | 478,921 | ||||||
Sunshine Oilsands, Ltd. (a) | 22,000 | 3,659 | ||||||
Talisman Energy, Inc. | 10,032 | 100,161 | ||||||
Tourmaline Oil Corp. (a) | 1,180 | 55,870 | ||||||
TransCanada Corp. (b) | 6,335 | 288,411 | ||||||
Trican Well Service, Ltd. | 2,561 | 32,461 | ||||||
Trilogy Energy Corp. (b) | 445 | 10,930 | ||||||
Veresen, Inc. (b) | 1,886 | 28,501 | ||||||
Vermilion Energy, Inc. (b) | 1,819 | 113,796 | ||||||
Whitecap Resources, Inc. (b) | 1,889 | 21,119 | ||||||
3,788,208 | ||||||||
CYPRUS — 0.0% (c) | ||||||||
Ocean Rig UDW, Inc. (a)(b) | 342 | 6,084 | ||||||
FINLAND — 0.2% | ||||||||
Neste Oil Oyj (b) | 1,429 | 29,149 | ||||||
FRANCE — 11.8% | ||||||||
Bourbon SA (b) | 1,064 | 34,975 | ||||||
CGG (a) | 2,345 | 37,620 | ||||||
Technip SA | 1,116 | 115,221 | ||||||
Total SA (b) | 21,035 | 1,379,995 | ||||||
1,567,811 | ||||||||
GREECE — 0.0% (c) | ||||||||
Navios Maritime Acquisition Corp. | 734 | 2,686 | ||||||
Tsakos Energy Navigation, Ltd. | 500 | 3,880 | ||||||
6,566 | ||||||||
HONG KONG — 0.1% | ||||||||
Brightoil Petroleum Holdings, Ltd. (a) | 22,000 | 6,892 | ||||||
Sino Oil And Gas Holdings, Ltd. (a)(b) | 145,000 | 4,206 | ||||||
Yanchang Petroleum International, Ltd. (a) | 50,000 | 2,578 | ||||||
13,676 | ||||||||
ISRAEL — 0.2% | ||||||||
Delek Group, Ltd. | 41 | 16,364 | ||||||
Paz Oil Co., Ltd. | 53 | 7,991 | ||||||
24,355 | ||||||||
ITALY — 5.4% | ||||||||
ENI SpA | 24,928 | 625,641 | ||||||
Saipem SpA | 2,695 | 65,819 | ||||||
Saras SpA (a) | 10,972 | 19,175 | ||||||
710,635 | ||||||||
JAPAN — 2.6% | ||||||||
Cosmo Oil Co., Ltd. | 4,000 | 7,263 | ||||||
Idemitsu Kosan Co., Ltd. | 1,200 | 24,691 | ||||||
Inpex Corp. | 8,800 | 114,416 | ||||||
Japan Petroleum Exploration Co. | 200 | 6,671 | ||||||
JX Holdings, Inc. | 31,197 | 150,555 | ||||||
Showa Shell Sekiyu K.K. | 1,700 | 15,220 | ||||||
TonenGeneral Sekiyu K.K. | 3,000 | 26,538 | ||||||
345,354 | ||||||||
LUXEMBOURG — 1.2% | ||||||||
Subsea 7 SA | 2,887 | 53,670 | ||||||
Tenaris SA | 4,668 | 103,003 | ||||||
156,673 | ||||||||
MONACO — 0.1% | ||||||||
GasLog, Ltd. | 327 | 7,616 | ||||||
NETHERLANDS — 1.0% | ||||||||
Fugro NV | 535 | 32,912 | ||||||
Koninklijke Vopak NV (b) | 609 | 34,019 | ||||||
SBM Offshore NV (a) | 3,712 | 67,609 | ||||||
134,540 | ||||||||
See accompanying notes to financial statements.
250
SPDR S&P International Energy Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
NORWAY — 4.7% | ||||||||
Aker Solutions ASA | 3,279 | $ | 51,071 | |||||
BW LPG, Ltd. (a)(d) | 741 | 8,633 | ||||||
DNO International ASA (a) | 6,030 | 23,014 | ||||||
Fred Olsen Energy ASA | 310 | 10,356 | ||||||
Golar LNG, Ltd. (b) | 409 | 17,051 | ||||||
Kvaerner ASA | 5,505 | 11,770 | ||||||
Petroleum Geo-Services ASA | 2,997 | 36,492 | ||||||
ProSafe SE | 2,249 | 18,024 | ||||||
Seadrill, Ltd. (b) | 3,283 | 115,921 | ||||||
Ship Finance International, Ltd. (b) | 600 | 10,782 | ||||||
StatoilHydro ASA | 10,226 | 288,655 | ||||||
TGS Nopec Geophysical Co. ASA (b) | 978 | 32,066 | ||||||
623,835 | ||||||||
PAPUA NEW GUINEA — 0.9% | ||||||||
Oil Search, Ltd. (b) | 15,433 | 121,012 | ||||||
PORTUGAL — 0.3% | ||||||||
Galp Energia SGPS SA (Class B) | 2,450 | 42,327 | ||||||
SINGAPORE — 0.1% | ||||||||
Ezion Holdings, Ltd. (b) | 8,400 | 14,428 | ||||||
SOUTH KOREA — 0.9% | ||||||||
GS Holdings | 473 | 21,418 | ||||||
Hankook Shell Oil Co., Ltd. | 39 | 17,000 | ||||||
S-Oil Corp. | 381 | 22,049 | ||||||
SK Innovation Co., Ltd. | 504 | 57,765 | ||||||
118,232 | ||||||||
SPAIN — 1.7% | ||||||||
Repsol YPF SA | 9,061 | 231,346 | ||||||
SWEDEN — 0.3% | ||||||||
Lundin Petroleum AB (a) | 1,783 | 36,603 | ||||||
UNITED KINGDOM — 34.3% | ||||||||
Afren PLC (a) | 10,039 | 23,632 | ||||||
AMEC PLC | 2,766 | 51,739 | ||||||
BG Group PLC | 31,239 | 581,995 | ||||||
BP PLC | 171,396 | 1,371,566 | ||||||
Cairn Energy PLC (a) | 7,495 | 20,855 | ||||||
Genel Energy PLC (a) | 1,418 | 23,215 | ||||||
John Wood Group PLC | 3,458 | 44,218 | ||||||
Ophir Energy PLC (a) | 3,989 | 15,961 | ||||||
Petrofac, Ltd. | 2,376 | 56,961 | ||||||
Premier Oil PLC | 5,737 | 28,205 | ||||||
Royal Dutch Shell PLC (Class A) | 36,112 | 1,319,072 | ||||||
Royal Dutch Shell PLC (Class B) | 22,766 | 888,321 | ||||||
Tullow Oil PLC | 9,843 | 122,827 | ||||||
4,548,567 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $13,868,143) | 13,177,208 | |||||||
SHORT TERM INVESTMENTS — 17.6% | ||||||||
UNITED STATES — 17.6% | ||||||||
MONEY MARKET FUNDS — 17.6% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 2,257,809 | 2,257,809 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (f)(g) | 74,696 | 74,696 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $2,332,505) | 2,332,505 | |||||||
TOTAL INVESTMENTS — 116.8% | ||||||||
(Cost $16,200,648) | 15,509,713 | |||||||
OTHER ASSETS & LIABILITIES — (16.8)% | (2,229,968 | ) | ||||||
NET ASSETS — 100.0% | $ | 13,279,745 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 0.1% of net assets as of March 31, 2014, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(e) | Investments of cash collateral for securities loaned | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(g) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
See accompanying notes to financial statements.
251
SPDR S&P International Financial Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.0% | ||||||||
AUSTRALIA — 12.6% | ||||||||
AMP, Ltd. (a) | 6,887 | $ | 31,788 | |||||
ASX, Ltd. | 871 | 29,119 | ||||||
Australia & New Zealand Banking Group, Ltd. | 8,108 | 248,443 | ||||||
Commonwealth Bank of Australia | 4,221 | 302,964 | ||||||
Macquarie Group, Ltd. (a) | 1,684 | 90,418 | ||||||
National Australia Bank, Ltd. | 6,193 | 203,540 | ||||||
QBE Insurance Group, Ltd. | 4,303 | 51,129 | ||||||
Stockland | 19,744 | 68,624 | ||||||
Sydney Airport | 1,268 | 4,924 | ||||||
Westfield Group | 9,504 | 90,290 | ||||||
Westfield Retail Trust | 6,292 | 17,379 | ||||||
Westpac Banking Corp. | 8,371 | 268,139 | ||||||
1,406,757 | ||||||||
AUSTRIA — 0.7% | ||||||||
Erste Group Bank AG | 1,193 | 40,778 | ||||||
Sparkassen Immobilien AG (b) | 5,504 | 40,622 | ||||||
81,400 | ||||||||
BELGIUM — 0.6% | ||||||||
Ageas | 890 | 39,676 | ||||||
Dexia SA (b) | 4,264 | 235 | ||||||
Groupe Bruxelles Lambert SA | 271 | 27,071 | ||||||
66,982 | ||||||||
BERMUDA — 0.5% | ||||||||
Lancashire Holdings, Ltd. | 5,242 | 59,776 | ||||||
CANADA — 12.5% | ||||||||
Bank of Montreal | 2,091 | 140,114 | ||||||
Bank of Nova Scotia | 3,114 | 180,647 | ||||||
Brookfield Asset Management, Inc. (Class A) | 2,937 | 119,822 | ||||||
Canadian Imperial Bank of Commerce (a) | 967 | 83,449 | ||||||
IGM Financial, Inc. (a) | 1,496 | 70,669 | ||||||
Manulife Financial Corp. | 5,913 | 114,215 | ||||||
National Bank of Canada | 1,976 | 79,309 | ||||||
Power Corp. of Canada (a) | 983 | 26,914 | ||||||
Royal Bank of Canada | 4,113 | 271,616 | ||||||
Sun Life Financial, Inc. (a) | 2,591 | 89,860 | ||||||
The Toronto-Dominion Bank (a) | 4,659 | 218,778 | ||||||
1,395,393 | ||||||||
DENMARK — 1.2% | ||||||||
Danske Bank A/S | 3,544 | 98,790 | ||||||
Sydbank A/S (b) | 1,483 | 37,971 | ||||||
136,761 | ||||||||
FINLAND — 1.5% | ||||||||
Pohjola Bank PLC | 4,289 | 95,349 | ||||||
Technopolis Oyj | 11,429 | 66,316 | ||||||
161,665 | ||||||||
FRANCE — 5.9% | ||||||||
AXA SA | 6,092 | 158,396 | ||||||
BNP Paribas | 3,364 | 259,594 | ||||||
Credit Agricole SA (b) | 3,437 | 54,216 | ||||||
Societe Generale | 1,676 | 103,266 | ||||||
Unibail-Rodamco SE | 303 | 78,719 | ||||||
654,191 | ||||||||
GERMANY — 5.5% | ||||||||
Allianz SE | 1,453 | 245,719 | ||||||
Commerzbank AG (b) | 739 | 13,582 | ||||||
Deutsche Bank AG | 2,740 | 122,639 | ||||||
Deutsche Beteiligungs AG | 2,080 | 57,851 | ||||||
Deutsche Boerse AG | 321 | 25,558 | ||||||
Muenchener Rueckversicherungs- Gesellschaft AG | 650 | 142,084 | ||||||
607,433 | ||||||||
HONG KONG — 5.2% | ||||||||
AIA Group, Ltd. | 13,800 | 65,468 | ||||||
Bank of East Asia, Ltd. | 16,603 | 64,853 | ||||||
Cheung Kong Holdings, Ltd. | 7,967 | 132,081 | ||||||
Hang Lung Properties, Ltd. | 10,922 | 31,399 | ||||||
Hong Kong Exchanges and Clearing, Ltd. | 3,261 | 49,438 | ||||||
New World Development Co., Ltd. (a) | 30,201 | 30,368 | ||||||
Sun Hung Kai Properties, Ltd. | 9,441 | 115,623 | ||||||
The Link REIT | 5,533 | 27,212 | ||||||
Wharf Holdings, Ltd. | 9,933 | 63,514 | ||||||
579,956 | ||||||||
ITALY — 3.3% | ||||||||
Assicurazioni Generali SpA | 4,157 | 92,701 | ||||||
Banca Monte dei Paschi di Siena SpA (b) | 26,714 | 9,757 | ||||||
Banca Popolare dell’Etruria e del Lazio (b) | 1,623 | 1,924 | ||||||
Banco Popolare Societa Cooperativa (a)(b) | 858 | 18,661 | ||||||
Intesa Sanpaolo SpA | 24,132 | 81,819 | ||||||
UBI Banca ScPA | 4,099 | 38,642 | ||||||
UniCredit SpA | 14,162 | 129,410 | ||||||
372,914 | ||||||||
JAPAN — 13.4% | ||||||||
Chuo Mitsui Trust Holdings, Inc. | 18,933 | 85,671 | ||||||
Daiwa Securities Group, Inc. | 9,900 | 86,325 | ||||||
Mitsubishi Estate Co., Ltd. | 8,000 | 190,008 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 35,849 | 197,372 | ||||||
Mizuho Financial Group, Inc. | 51,825 | 102,659 | ||||||
MS&AD Insurance Group Holdings, Inc. | 2,086 | 47,884 | ||||||
NKSJ Holdings, Inc. | 1,900 | 48,927 | ||||||
Nomura Holdings, Inc. | 13,996 | 89,968 | ||||||
ORIX Corp. (b) | 4,900 | 69,133 | ||||||
Resona Holdings, Inc. | 5,156 | 24,983 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 4,069 | 174,202 | ||||||
T&D Holdings, Inc. | 4,100 | 48,849 | ||||||
The Bank of Yokohama, Ltd. | 8,000 | 40,006 | ||||||
The Dai-ichi Life Insurance Co., Ltd. | 2,900 | 42,239 | ||||||
The Shizuoka Bank, Ltd. | 8,000 | 78,225 | ||||||
Tokai Tokyo Financial Holdings, Inc. | 9,022 | 75,866 | ||||||
Tokio Marine Holdings, Inc. | 3,079 | 92,623 | ||||||
1,494,940 | ||||||||
NETHERLANDS — 1.7% | ||||||||
Aegon NV | 5,750 | 52,804 | ||||||
ING Groep NV (b) | 9,979 | 141,318 | ||||||
194,122 | ||||||||
See accompanying notes to financial statements.
252
SPDR S&P International Financial Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
NEW ZEALAND — 0.7% | ||||||||
Precinct Properties | 86,029 | $ | 74,652 | |||||
NORWAY — 0.5% | ||||||||
SpareBank 1 SR Bank ASA | 5,162 | 52,378 | ||||||
PORTUGAL — 0.0% (c) | ||||||||
BANIF — Banco Internacional do Funchal SA (b) | 8,326 | 141 | ||||||
SINGAPORE — 2.4% | ||||||||
CapitaLand, Ltd. | 10,922 | 25,100 | ||||||
Hong Leong Finance, Ltd. | 17,867 | 38,929 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 8,366 | 63,267 | ||||||
United Overseas Bank, Ltd. | 8,355 | 143,840 | ||||||
271,136 | ||||||||
SOUTH KOREA — 0.8% | ||||||||
KB Financial Group, Inc. ADR | 961 | 33,779 | ||||||
Shinhan Financial Group Co., Ltd. ADR | 1,196 | 52,564 | ||||||
86,343 | ||||||||
SPAIN — 4.8% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 14,802 | 177,855 | ||||||
Banco de Sabadell SA | 17,061 | 52,719 | ||||||
Banco Popular Espanol SA | 4,897 | 36,986 | ||||||
Banco Santander SA | 25,962 | 247,648 | ||||||
Bolsas y Mercados Espanoles | 586 | 23,854 | ||||||
539,062 | ||||||||
SWEDEN — 4.1% | ||||||||
Investor AB | 1,534 | 55,411 | ||||||
Kinnevik Investment AB (Class B) | 900 | 33,176 | ||||||
Nordea Bank AB | 10,091 | 142,878 | ||||||
Skandinaviska Enskilda Banken AB (Class A) (a) | 7,923 | 108,576 | ||||||
Svenska Handelsbanken AB (Class A) (a) | 2,228 | 111,614 | ||||||
451,655 | ||||||||
SWITZERLAND — 6.4% | ||||||||
Credit Suisse Group AG (b) | 3,702 | 119,817 | ||||||
GAM Holding AG (b) | 1,226 | 22,137 | ||||||
Julius Baer Group, Ltd. (b) | 1,107 | 49,162 | ||||||
Swiss Re AG (b) | 1,620 | 150,290 | ||||||
UBS AG (b) | 10,089 | 208,553 | ||||||
Valiant Holding AG | 70 | 7,049 | ||||||
Zurich Insurance Group AG (b) | 504 | 154,849 | ||||||
711,857 | ||||||||
UNITED KINGDOM — 14.7% | ||||||||
Aviva PLC | 10,500 | 83,499 | ||||||
Barclays PLC | 37,391 | 145,493 | ||||||
British Land Co. PLC | 5,682 | 61,952 | ||||||
HSBC Holdings PLC | 48,075 | 486,901 | ||||||
Land Securities Group PLC | 5,046 | 85,891 | ||||||
Lloyds Banking Group PLC (b) | 113,151 | 140,820 | ||||||
Man Group PLC | 8,399 | 14,170 | ||||||
Old Mutual PLC | 13,779 | 46,196 | ||||||
Provident Financial PLC | 2,524 | 83,442 | ||||||
Prudential PLC | 9,068 | 191,768 | ||||||
Resolution, Ltd. | 5,404 | 26,920 | ||||||
Royal Bank of Scotland Group PLC (b) | 5,929 | 30,741 | ||||||
RSA Insurance Group PLC | 28,309 | 42,264 | ||||||
Standard Chartered PLC | 5,113 | 106,850 | ||||||
Standard Life PLC | 14,233 | 89,575 | ||||||
1,636,482 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $11,214,023) | 11,035,996 | |||||||
RIGHTS — 0.2% | ||||||||
HONG KONG — 0.0% (c) | ||||||||
New World Development Co., Ltd. (expiring 4/17/14) (b) | 9,067 | 1,870 | ||||||
ITALY — 0.1% | ||||||||
Banco Popolare Societa Cooperativa (expiring 4/17/14) (b) | 858 | 7,308 | ||||||
SPAIN — 0.0% (c) | ||||||||
Banco Bilbao Vizcaya Argentaria SA (expiring 4/14/14) (b) | 14,802 | 3,468 | ||||||
UNITED KINGDOM — 0.1% | ||||||||
RSA Insurance Group PLC (expiring 4/9/14) (b) | 9,554 | 5,336 | ||||||
TOTAL RIGHTS — | ||||||||
(Cost $13,603) | 17,982 | |||||||
SHORT TERM INVESTMENTS — 3.6% | ||||||||
UNITED STATES — 3.6% | ||||||||
MONEY MARKET FUNDS — 3.6% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 362,465 | 362,465 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 33,851 | 33,851 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $396,316) | 396,316 | |||||||
TOTAL INVESTMENTS — 102.8% | ||||||||
(Cost $11,623,942) | 11,450,294 | |||||||
OTHER ASSETS & LIABILITIES — (2.8)% | (308,334 | ) | ||||||
NET ASSETS — 100.0% | $ | 11,141,960 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
PLC = Public Limited Company
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
253
SPDR S&P International Health Care Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.0% | ||||||||
AUSTRALIA — 3.9% | ||||||||
Ansell, Ltd. | 6,138 | $ | 104,734 | |||||
Cochlear, Ltd. (a) | 2,703 | 142,801 | ||||||
CSL, Ltd. | 20,470 | 1,319,736 | ||||||
Primary Health Care, Ltd. (a) | 19,697 | 85,986 | ||||||
Ramsay Health Care, Ltd. | 6,255 | 279,031 | ||||||
Sonic Healthcare, Ltd. | 21,283 | 340,671 | ||||||
2,272,959 | ||||||||
BELGIUM — 0.9% | ||||||||
ThromboGenics NV (a)(b) | 2,301 | 65,076 | ||||||
UCB SA | 5,409 | 433,282 | ||||||
498,358 | ||||||||
CANADA — 3.4% | ||||||||
Catamaran Corp. (b) | 8,883 | 398,055 | ||||||
Valeant Pharmaceuticals International, Inc. (b) | 12,286 | 1,618,914 | ||||||
2,016,969 | ||||||||
DENMARK — 6.8% | ||||||||
Coloplast A/S (Class B) | 5,184 | 419,639 | ||||||
Genmab A/S (b) | 2,128 | 86,542 | ||||||
GN Store Nord A/S | 8,209 | 203,823 | ||||||
H. Lundbeck A/S (a) | 4,357 | 134,321 | ||||||
Novo Nordisk A/S (Class B) | 66,319 | 3,021,512 | ||||||
William Demant Holding (a)(b) | 1,638 | 140,184 | ||||||
4,006,021 | ||||||||
FINLAND — 0.4% | ||||||||
Orion Oyj (Class A) | 1,782 | 53,542 | ||||||
Orion Oyj (Class B) | 5,690 | 171,823 | ||||||
225,365 | ||||||||
FRANCE — 8.7% | ||||||||
bioMerieux | 919 | 100,848 | ||||||
Essilor International SA | 9,230 | 931,195 | ||||||
Orpea | 1,341 | 88,992 | ||||||
Sanofi | 37,788 | 3,941,512 | ||||||
Virbac SA | 270 | 60,285 | ||||||
5,122,832 | ||||||||
GERMANY — 10.3% | ||||||||
Bayer AG | 25,244 | 3,415,931 | ||||||
Celesio AG | 2,099 | 71,774 | ||||||
Fresenius Medical Care AG & Co. KGaA | 8,927 | 623,179 | ||||||
Fresenius SE | 5,469 | 856,277 | ||||||
Gerresheimer AG | 2,222 | 143,860 | ||||||
Merck KGaA | 2,904 | 489,298 | ||||||
Morphosys AG (b) | 966 | 89,602 | ||||||
Rhoen-Klinikum AG | 5,233 | 167,688 | ||||||
Stada Arzneimittel AG | 4,092 | 175,200 | ||||||
6,032,809 | ||||||||
HONG KONG — 0.1% | ||||||||
Lee’s Pharmaceutical Holdings, Ltd. | 70,000 | 81,216 | ||||||
IRELAND — 0.3% | ||||||||
ICON PLC (b) | 2,270 | 107,939 | ||||||
UDG Healthcare PLC (c) | 6,214 | 36,362 | ||||||
UDG Healthcare PLC (c) | 3,766 | 22,037 | ||||||
166,338 | ||||||||
ISRAEL — 3.4% | ||||||||
Taro Pharmaceutical Industries, Ltd. (b) | 780 | 86,580 | ||||||
Teva Pharmaceutical Industries, Ltd. | 37,063 | 1,912,539 | ||||||
1,999,119 | ||||||||
ITALY — 0.3% | ||||||||
DiaSorin SpA | 1,114 | 47,827 | ||||||
Recordati SpA | 4,912 | 85,978 | ||||||
Sorin SpA (b) | 13,589 | 40,605 | ||||||
174,410 | ||||||||
JAPAN — 14.6% | ||||||||
Alfresa Holdings Corp. | 2,800 | 182,978 | ||||||
Astellas Pharma, Inc. | 92,500 | 1,099,383 | ||||||
Chugai Pharmaceutical Co., Ltd. | 9,225 | 236,033 | ||||||
Daiichi Sankyo Co., Ltd. | 30,300 | 511,350 | ||||||
Dainippon Sumitomo Pharma Co., Ltd. | 7,300 | 116,250 | ||||||
Eisai Co., Ltd. | 12,300 | 479,889 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 3,600 | 163,072 | ||||||
Kaken Pharmaceutical Co., Ltd. | 5,000 | 79,235 | ||||||
Kissei Pharmaceutical Co., Ltd. | 2,500 | 62,169 | ||||||
KYORIN Holdings, Inc. | 3,300 | 63,158 | ||||||
Kyowa Hakko Kirin Co., Ltd. | 16,422 | 175,406 | ||||||
M3, Inc. | 6,800 | 111,853 | ||||||
Medipal Holdings Corp. | 10,700 | 163,952 | ||||||
Miraca Holdings, Inc. | 3,200 | 140,448 | ||||||
Mitsubishi Tanabe Pharma Corp. | 10,300 | 144,321 | ||||||
Nihon Kohden Corp. | 2,700 | 107,885 | ||||||
Nippon Shinyaku Co., Ltd. | 3,000 | 57,008 | ||||||
Olympus Corp. (b) | 13,700 | 437,666 | ||||||
Ono Pharmaceutical Co., Ltd. | 4,500 | 390,639 | ||||||
Otsuka Holdings Co., Ltd. | 22,100 | 662,453 | ||||||
Rohto Pharmaceutical Co., Ltd. | 5,200 | 91,998 | ||||||
Santen Pharmaceutical Co., Ltd. | 3,500 | 155,654 | ||||||
Sawai Pharmaceutical Co., Ltd. | 1,500 | 92,198 | ||||||
Shionogi & Co., Ltd. | 13,100 | 243,339 | ||||||
Ship Healthcare Holdings, Inc. | 2,500 | 96,131 | ||||||
Suzuken Co., Ltd. | 4,100 | 159,048 | ||||||
Sysmex Corp. | 7,600 | 242,793 | ||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 2,400 | 193,659 | ||||||
Takeda Pharmaceutical Co., Ltd. | 29,200 | 1,387,060 | ||||||
Terumo Corp. | 15,200 | 332,530 | ||||||
Toho Holdings Co., Ltd. | 3,700 | 78,466 | ||||||
Tsumura & Co. | 3,400 | 81,876 | ||||||
8,539,900 | ||||||||
LUXEMBOURG — 0.2% | ||||||||
Eurofins Scientific | 333 | 99,708 | ||||||
NETHERLANDS — 0.4% | ||||||||
QIAGEN NV (b) | 11,689 | 245,039 | ||||||
NEW ZEALAND — 0.4% | ||||||||
Fisher & Paykel Healthcare Corp., Ltd. | 34,931 | 128,823 | ||||||
Ryman Healthcare, Ltd. | 16,877 | 128,144 | ||||||
256,967 | ||||||||
SINGAPORE — 0.4% | ||||||||
Biosensors International Group, Ltd. (a) | 81,000 | 60,224 | ||||||
Haw Par Corp., Ltd. (a) | 18,000 | 119,518 |
See accompanying notes to financial statements.
254
SPDR S&P International Health Care Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Raffles Medical Group Ltd. | 30,000 | $ | 76,578 | |||||
256,320 | ||||||||
SPAIN — 1.1% | ||||||||
Grifols SA | 9,933 | 544,526 | ||||||
Grifols SA (Class B) | 1,869 | 76,892 | ||||||
621,418 | ||||||||
SWEDEN — 1.2% | ||||||||
Elekta AB (Class B) (a) | 16,263 | 216,345 | ||||||
Getinge AB (Class B) | 7,983 | 223,229 | ||||||
Meda AB (Class A) | 12,019 | 184,357 | ||||||
Swedish Orphan Biovitrum AB (b) | 9,238 | 101,021 | ||||||
724,952 | ||||||||
SWITZERLAND — 26.5% | ||||||||
Actelion, Ltd. (b) | 4,824 | 457,088 | ||||||
Basilea Pharmaceutica AG (b) | 666 | 76,073 | ||||||
Galenica AG | 264 | 255,677 | ||||||
Lonza Group AG (b) | 2,781 | 283,814 | ||||||
Nobel Biocare Holding AG (b) | 7,127 | 102,466 | ||||||
Novartis AG | 82,942 | 7,042,113 | ||||||
Roche Holding AG (c) | 5,625 | 1,679,508 | ||||||
Roche Holding AG (c) | 17,105 | 5,131,403 | ||||||
Sonova Holding AG (b) | 2,113 | 309,050 | ||||||
Straumann Holding AG | 595 | 126,564 | ||||||
Tecan Group AG | 467 | 56,039 | ||||||
15,519,795 | ||||||||
UNITED KINGDOM — 15.7% | ||||||||
AstraZeneca PLC | 43,616 | 2,818,775 | ||||||
BTG PLC (b) | 15,009 | 135,746 | ||||||
Dechra Pharmaceuticals PLC | 5,940 | 66,151 | ||||||
Genus PLC | 6,554 | 108,172 | ||||||
GlaxoSmithKline PLC | 151,714 | 4,025,381 | ||||||
Hikma Pharmaceuticals PLC | 6,210 | 171,964 | ||||||
Shire PLC | 24,198 | 1,188,063 | ||||||
Smith & Nephew PLC | 43,038 | 652,215 | ||||||
Synergy Health PLC | 2,594 | 59,679 | ||||||
9,226,146 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $46,625,991) | 58,086,641 | |||||||
SHORT TERM INVESTMENTS — 1.8% | ||||||||
UNITED STATES — 1.8% | ||||||||
MONEY MARKET FUNDS — 1.8% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 587,672 | 587,672 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 450,966 | 450,966 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $1,038,638) | 1,038,638 | |||||||
TOTAL INVESTMENTS — 100.8% | ||||||||
(Cost $47,664,629) | 59,125,279 | |||||||
OTHER ASSETS & LIABILITIES — (0.8)% | (453,005 | ) | ||||||
NET ASSETS — 100.0% | $ | 58,672,274 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
PLC = Public Limited Company
See accompanying notes to financial statements.
255
SPDR S&P International Industrial Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.1% | ||||||||
AUSTRALIA — 3.2% | ||||||||
Bradken, Ltd. (a) | 7,655 | $ | 30,934 | |||||
Brambles, Ltd. | 17,165 | 147,321 | ||||||
GWA International, Ltd. | 25,551 | 69,151 | ||||||
Leighton Holdings, Ltd. (a) | 4,012 | 78,498 | ||||||
Qantas Airways, Ltd. (b) | 35,983 | 36,853 | ||||||
Seek, Ltd. | 8,518 | 138,714 | ||||||
Toll Holdings, Ltd. (a) | 19,553 | 94,238 | ||||||
Transurban Group (a) | 38,315 | 257,819 | ||||||
853,528 | ||||||||
AUSTRIA — 0.5% | ||||||||
Andritz AG | 807 | 49,890 | ||||||
Zumtobel AG | 3,125 | 77,526 | ||||||
127,416 | ||||||||
CANADA — 4.6% | ||||||||
Bombardier, Inc. (Class B) (a) | 21,334 | 79,441 | ||||||
CAE, Inc. | 10,093 | 133,049 | ||||||
Canadian National Railway Co. | 9,698 | 545,724 | ||||||
Canadian Pacific Railway, Ltd. (a) | 1,736 | 260,538 | ||||||
SNC-Lavalin Group, Inc. | 3,068 | 134,366 | ||||||
Toromont Industries, Ltd. (a) | 3,806 | 87,999 | ||||||
1,241,117 | ||||||||
DENMARK — 1.8% | ||||||||
A P Moller — Maersk A/S (a) | 18 | 215,987 | ||||||
FLSmidth & Co. A/S (a) | 1,177 | 59,404 | ||||||
NKT Holding A/S | 1,648 | 95,527 | ||||||
Vestas Wind Systems A/S (b) | 3,144 | 126,410 | ||||||
497,328 | ||||||||
FINLAND — 2.1% | ||||||||
Caverion Corp. | 3,436 | 36,938 | ||||||
Kone Oyj (Class B) (a) | 5,254 | 220,426 | ||||||
Metso Oyj (a) | 2,768 | 90,530 | ||||||
Valmet Corp. (a) | 2,768 | 29,700 | ||||||
Wartsila Oyj | 2,902 | 157,707 | ||||||
YIT Oyj (a) | 4,017 | 42,797 | ||||||
578,098 | ||||||||
FRANCE — 8.3% | ||||||||
Air France-KLM (b) | 5,826 | 87,604 | ||||||
Alstom SA | 3,081 | 84,163 | ||||||
Bouygues SA | 2,647 | 110,450 | ||||||
Bureau Veritas SA | 2,380 | 73,002 | ||||||
Compagnie de Saint-Gobain | 4,954 | 299,401 | ||||||
Eiffage SA | 1,272 | 95,230 | ||||||
Legrand SA | 2,711 | 168,495 | ||||||
Safran SA | 2,406 | 166,765 | ||||||
Schneider Electric SA | 6,318 | 560,346 | ||||||
Vallourec SA | 1,618 | 87,873 | ||||||
Vinci SA | 6,804 | 505,547 | ||||||
2,238,876 | ||||||||
GERMANY — 9.2% | ||||||||
Brenntag AG | 567 | 105,225 | ||||||
Deutsche Lufthansa AG (b) | 6,711 | 175,878 | ||||||
Deutsche Post AG | 10,670 | 396,619 | ||||||
GEA Group AG | 3,737 | 170,894 | ||||||
Hochtief AG | 972 | 88,284 | ||||||
Kloeckner & Co. SE (b) | 3,168 | 46,741 | ||||||
MAN SE | 1,379 | 175,806 | ||||||
OSRAM Licht AG (b) | 919 | 59,613 | ||||||
Pfeiffer Vacuum Technology AG | 570 | 69,659 | ||||||
SGL Carbon AG | 1,096 | 37,303 | ||||||
Siemens AG | 8,589 | 1,156,552 | ||||||
2,482,574 | ||||||||
GREECE — 0.1% | ||||||||
DryShips, Inc. (b) | 8,852 | 28,592 | ||||||
HONG KONG — 3.9% | ||||||||
Cathay Pacific Airways, Ltd. | 35,000 | 65,244 | ||||||
Hopewell Highway Infrastructure, Ltd. | 246,000 | 119,241 | ||||||
Hutchison Whampoa, Ltd. | 32,000 | 423,666 | ||||||
Jardine Matheson Holdings, Ltd. (a) | 2,592 | 163,503 | ||||||
Jardine Strategic Holdings, Ltd. | 1,502 | 53,862 | ||||||
MTR Corp., Ltd. | 16,000 | 59,198 | ||||||
Noble Group, Ltd. | 84,951 | 80,050 | ||||||
Pacific Basin Shipping, Ltd. | 120,000 | 76,576 | ||||||
1,041,340 | ||||||||
IRELAND — 0.7% | ||||||||
DCC PLC | 1,986 | 107,937 | ||||||
Ryanair Holdings PLC ADR (a)(b) | 1,502 | 88,333 | ||||||
196,270 | ||||||||
ITALY — 1.1% | ||||||||
Ansaldo STS SpA | 6,029 | 70,672 | ||||||
Atlantia SpA | 3,555 | 91,379 | ||||||
Autostrada Torino-Milano SpA | 3,857 | 65,439 | ||||||
Finmeccanica SpA (b) | 6,383 | 63,033 | ||||||
290,523 | ||||||||
JAPAN — 28.7% | ||||||||
Asahi Glass Co., Ltd. | 17,000 | 98,713 | ||||||
Central Japan Railway Co. | 2,000 | 234,209 | ||||||
Dai Nippon Printing Co., Ltd. | 13,000 | 124,843 | ||||||
Daikin Industries, Ltd. | 3,200 | 179,661 | ||||||
East Japan Railway Co. | 4,700 | 347,121 | ||||||
FANUC Corp. | 1,900 | 335,869 | ||||||
Furukawa Electric Co., Ltd. | 19,000 | 47,415 | ||||||
Futaba Corp. | 3,600 | 62,223 | ||||||
Hankyu Hanshin Holdings, Inc. | 19,000 | 103,685 | ||||||
IHI Corp. | 47,000 | 198,068 | ||||||
ITOCHU Corp. | 20,200 | 236,551 | ||||||
JGC Corp. | 3,000 | 104,578 | ||||||
JTEKT Corp. | 3,700 | 55,113 | ||||||
Kajima Corp. | 28,000 | 98,422 | ||||||
Kamigumi Co., Ltd. | 14,000 | 136,350 | ||||||
Kawasaki Heavy Industries, Ltd. | 36,000 | 132,835 | ||||||
Kawasaki Kisen Kaisha, Ltd. | 26,000 | 56,300 | ||||||
Keikyu Corp. | 5,000 | 42,239 | ||||||
Kintetsu Corp. | 19,000 | 67,709 | ||||||
Kitano Construction Corp. | 34,000 | 85,177 | ||||||
Kokuyo Co., Ltd. | 13,800 | 101,170 | ||||||
Komatsu, Ltd. | 11,800 | 244,972 | ||||||
Kubota Corp. | 16,000 | 212,380 | ||||||
LIXIL Group Corp. | 3,400 | 93,959 | ||||||
Makita Corp. | 1,700 | 93,596 | ||||||
Marubeni Corp. | 19,000 | 127,854 | ||||||
MISUMI Group, Inc. | 5,100 | 141,632 |
See accompanying notes to financial statements.
256
SPDR S&P International Industrial Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Mitsubishi Corp. | 17,200 | $ | 320,000 | |||||
Mitsubishi Electric Corp. | 22,000 | 248,230 | ||||||
Mitsubishi Heavy Industries, Ltd. | 49,000 | 284,051 | ||||||
Mitsui & Co., Ltd. | 19,500 | 276,259 | ||||||
Mitsui OSK Lines, Ltd. | 16,000 | 62,456 | ||||||
Nidec Corp. | 2,800 | 170,716 | ||||||
Nippon Express Co., Ltd. | 17,000 | 83,362 | ||||||
Nippon Yusen K.K. | 21,000 | 61,174 | ||||||
NSK, Ltd. | 7,000 | 72,185 | ||||||
Odakyu Electric Railway Co., Ltd. | 13,000 | 112,220 | ||||||
Park24 Co., Ltd. | 2,400 | 45,723 | ||||||
Secom Co., Ltd. | 4,900 | 282,909 | ||||||
SMC Corp. | 700 | 185,051 | ||||||
Sojitz Corp. | 45,900 | 78,443 | ||||||
Sumitomo Corp. | 16,900 | 215,465 | ||||||
Sumitomo Electric Industries, Ltd. | 12,000 | 178,978 | ||||||
Sumitomo Heavy Industries, Ltd. | 17,000 | 69,165 | ||||||
Taisei Corp. | 14,000 | 62,669 | ||||||
THK Co., Ltd. | 3,800 | 85,494 | ||||||
Tobu Railway Co., Ltd. | 18,000 | 87,217 | ||||||
Tokyu Corp. | 32,000 | 196,067 | ||||||
Toppan Printing Co., Ltd. | 14,000 | 100,461 | ||||||
Toshiba Corp. | 48,000 | 203,680 | ||||||
TOTO, Ltd. | 5,000 | 69,476 | ||||||
Toyota Tsusho Corp. | 2,600 | 66,146 | ||||||
West Japan Railway Co. | 3,200 | 130,940 | ||||||
Yamato Holdings Co., Ltd. | 11,000 | 237,549 | ||||||
7,748,730 | ||||||||
NETHERLANDS — 5.1% | ||||||||
Aalberts Industries NV | 1,060 | 36,962 | ||||||
AerCap Holdings NV (a)(b) | 1,107 | 46,704 | ||||||
Airbus Group NV | 6,300 | 451,428 | ||||||
CNH Industrial NV (b) | 7,876 | 90,586 | ||||||
Koninklijke BAM Groep NV | 6,522 | 39,102 | ||||||
Koninklijke Philips NV | 12,704 | 446,574 | ||||||
Koninklijke Vopak NV (a) | 728 | 40,666 | ||||||
PostNL NV (b) | 7,669 | 35,007 | ||||||
Randstad Holding NV | 2,576 | 150,909 | ||||||
TNT Express NV | 4,485 | 44,068 | ||||||
1,382,006 | ||||||||
NORWAY — 0.3% | ||||||||
Orkla ASA | 8,894 | 75,837 | ||||||
SINGAPORE — 1.6% | ||||||||
K-Green Trust | 116,800 | 96,594 | ||||||
Keppel Corp., Ltd. (a) | 32,200 | 278,842 | ||||||
Keppel REIT | 136 | 123 | ||||||
Neptune Orient Lines, Ltd. (b) | 69,750 | 55,188 | ||||||
430,747 | ||||||||
SOUTH KOREA — 2.7% | ||||||||
Daelim Industrial Co., Ltd. | 616 | 50,174 | ||||||
GS Engineering & Construction Corp. (b) | 803 | 27,384 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 1,550 | 81,544 | ||||||
Hyundai Heavy Industries Co., Ltd. | 746 | 147,875 | ||||||
LG Corp. | 1,976 | 107,483 | ||||||
Samsung C&T Corp. | 2,229 | 129,202 | ||||||
Samsung Engineering Co., Ltd. (b) | 559 | 37,654 | ||||||
Samsung Heavy Industries Co., Ltd. | 2,490 | 74,505 | ||||||
SK Holdings Co., Ltd. | 439 | 79,597 | ||||||
735,418 | ||||||||
SPAIN — 1.8% | ||||||||
Abertis Infraestructuras SA | 5,264 | 120,253 | ||||||
ACS, Actividades de Construccion y Servicios SA (a) | 3,920 | 154,059 | ||||||
Ferrovial SA | 4,415 | 95,686 | ||||||
International Consolidated Airlines Group SA (b) | 17,362 | 120,759 | ||||||
490,757 | ||||||||
SWEDEN — 6.7% | ||||||||
Alfa Laval AB | 7,083 | 191,289 | ||||||
Assa Abloy AB (Class B) | 3,388 | 180,072 | ||||||
Atlas Copco AB | 7,075 | 203,732 | ||||||
Atlas Copco AB (Class B) | 4,270 | 116,702 | ||||||
B&B Tools AB (Class B) | 2,885 | 52,952 | ||||||
Sandvik AB | 13,639 | 192,377 | ||||||
Scania AB (Class B) | 3,371 | 98,891 | ||||||
Securitas AB (Class B) | 9,153 | 105,809 | ||||||
Skanska AB (Class B) | 4,503 | 105,915 | ||||||
SKF AB (Class B) (a) | 4,350 | 111,173 | ||||||
Trelleborg AB (Class B) | 6,945 | 139,895 | ||||||
Volvo AB (Class A) | 7,749 | 124,657 | ||||||
Volvo AB (Class B) | 12,214 | 193,659 | ||||||
1,817,123 | ||||||||
SWITZERLAND — 6.1% | ||||||||
ABB, Ltd. (b) | 27,470 | 709,024 | ||||||
Adecco SA (b) | 2,666 | 221,978 | ||||||
Geberit AG | 775 | 253,990 | ||||||
Kuehne & Nagel International AG | 1,042 | 145,917 | ||||||
Schindler Holding AG | 525 | 77,441 | ||||||
SGS SA | 103 | 254,075 | ||||||
1,662,425 | ||||||||
UNITED KINGDOM — 10.6% | ||||||||
Aggreko PLC | 4,813 | 120,440 | ||||||
Ashtead Group PLC | 6,634 | 105,179 | ||||||
Babcock International Group PLC | 9,200 | 206,600 | ||||||
BAE Systems PLC | 35,847 | 247,536 | ||||||
Bunzl PLC | 3,625 | 96,453 | ||||||
Capita Group PLC | 7,295 | 133,294 | ||||||
easyJet PLC | 3,377 | 96,554 | ||||||
Experian PLC | 15,203 | 273,987 | ||||||
FirstGroup PLC (b) | 30,258 | 73,599 | ||||||
G4S PLC | 15,139 | 60,952 | ||||||
IMI PLC | 3,077 | 74,793 | ||||||
Intertek Group PLC | 1,761 | 90,189 | ||||||
Meggitt PLC | 10,435 | 83,487 | ||||||
Melrose Industries PLC | 11,726 | 58,041 | ||||||
Rentokil Initial PLC | 58,474 | 119,907 | ||||||
Rolls-Royce Holdings PLC (b) | 26,273 | 470,423 | ||||||
Serco Group PLC | 10,290 | 72,222 | ||||||
Smiths Group PLC | 7,584 | 160,827 | ||||||
The Weir Group PLC | 2,273 | 96,100 |
See accompanying notes to financial statements.
257
SPDR S&P International Industrial Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Wolseley PLC | 4,034 | $ | 229,399 | |||||
2,869,982 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $25,316,691) | 26,788,687 | |||||||
SHORT TERM INVESTMENTS — 3.9% | ||||||||
UNITED STATES — 3.9% | ||||||||
MONEY MARKET FUNDS — 3.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 953,434 | 953,434 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 105,017 | 105,017 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $1,058,451) | 1,058,451 | |||||||
TOTAL INVESTMENTS — 103.0% | ||||||||
(Cost $26,375,142) | 27,847,138 | |||||||
OTHER ASSETS & LIABILITIES — (3.0)% | (804,628 | ) | ||||||
NET ASSETS — 100.0% | $ | 27,042,510 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
258
SPDR S&P International Materials Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.1% | ||||||||
AUSTRALIA — 13.4% | ||||||||
Alumina, Ltd. (a) | 15,157 | $ | 16,788 | |||||
Amcor, Ltd. | 5,394 | 51,944 | ||||||
Arrium, Ltd. (b) | 10,915 | 13,657 | ||||||
BHP Billiton, Ltd. (b) | 19,784 | 668,743 | ||||||
BlueScope Steel, Ltd. (a)(b) | 4,040 | 22,954 | ||||||
Boral, Ltd. (b) | 11,191 | 58,604 | ||||||
DuluxGroup, Ltd. | 2,046 | 10,866 | ||||||
Fortescue Metals Group, Ltd. (b) | 11,299 | 54,980 | ||||||
Iluka Resources, Ltd. (b) | 2,561 | 23,523 | ||||||
Incitec Pivot, Ltd. (b) | 11,189 | 30,697 | ||||||
Mineral Deposits, Ltd. (a) | 871 | 1,752 | ||||||
Newcrest Mining, Ltd. (a)(b) | 4,810 | 44,091 | ||||||
Orica, Ltd. (b) | 2,796 | 56,701 | ||||||
Orora, Ltd. (b) | 5,294 | 6,747 | ||||||
OZ Minerals, Ltd. (b) | 3,212 | 10,598 | ||||||
Rio Tinto, Ltd. (b) | 2,667 | 157,090 | ||||||
Sims Metal Management, Ltd. (a)(b) | 2,260 | 20,570 | ||||||
1,250,305 | ||||||||
AUSTRIA — 0.7% | ||||||||
RHI AG (b) | 600 | 19,313 | ||||||
Voestalpine AG | 1,083 | 47,623 | ||||||
66,936 | ||||||||
BELGIUM — 1.0% | ||||||||
Solvay SA | 347 | 54,497 | ||||||
Tessenderlo Chemie NV (b) | 120 | 3,457 | ||||||
Umicore | 648 | 33,036 | ||||||
90,990 | ||||||||
CANADA — 13.4% | ||||||||
Agnico-Eagle Mines, Ltd. | 1,324 | 40,149 | ||||||
Agrium, Inc. (b) | 1,226 | 119,662 | ||||||
Alacer Gold Corp. | 1,106 | 2,806 | ||||||
Alamos Gold, Inc. | 688 | 6,227 | ||||||
AuRico Gold, Inc. | 1,996 | 8,716 | ||||||
B2Gold Corp. (a) | 4,500 | 12,231 | ||||||
Barrick Gold Corp. | 6,588 | 117,465 | ||||||
Canam Group, Inc. | 766 | 9,570 | ||||||
Canexus Corp. (b) | 1,331 | 6,042 | ||||||
Canfor Corp. (a) | 400 | 9,459 | ||||||
CCL Industries, Inc. (Class B) | 200 | 17,163 | ||||||
Centerra Gold, Inc. | 964 | 4,498 | ||||||
Detour Gold Corp. (a) | 817 | 7,084 | ||||||
Eldorado Gold Corp. | 5,586 | 31,125 | ||||||
First Majestic Silver Corp. (a) | 900 | 8,692 | ||||||
First Quantum Minerals, Ltd. | 3,801 | 70,355 | ||||||
Franco-Nevada Corp. | 1,000 | 46,025 | ||||||
Goldcorp, Inc. | 5,529 | 135,100 | ||||||
HudBay Minerals, Inc. | 1,388 | 10,853 | ||||||
IAMGOLD Corp. | 2,325 | 8,194 | ||||||
International Forest Products, Ltd. (Class A) (a) | 708 | 10,558 | ||||||
Intertape Polymer Group, Inc. (b) | 769 | 8,667 | ||||||
Kinross Gold Corp. (a) | 7,463 | 30,900 | ||||||
Labrador Iron Ore Royalty Corp. (b) | 383 | 10,431 | ||||||
Lundin Mining Corp. (a) | 3,086 | 14,203 | ||||||
Methanex Corp. | 500 | 32,045 | ||||||
New Gold, Inc. (a) | 2,068 | 10,249 | ||||||
Osisko Mining Corp. (a) | 2,651 | 16,524 | ||||||
Pan American Silver Corp. (b) | 1,366 | 17,586 | ||||||
Potash Corp. of Saskatchewan, Inc. (b) | 5,753 | 208,437 | ||||||
SEMAFO, Inc. | 2,756 | 9,738 | ||||||
Sherritt International Corp. (b) | 3,252 | 11,373 | ||||||
Silver Wheaton Corp. | 2,287 | 51,966 | ||||||
Tanzanian Royalty Exploration Corp. (a)(b) | 1,106 | 2,685 | ||||||
Teck Resources, Ltd. (Class B) | 2,817 | 60,896 | ||||||
Thompson Creek Metals Co., Inc. (a)(b) | 875 | 1,911 | ||||||
Turquoise Hill Resources, Ltd. (a) | 6,731 | 22,564 | ||||||
West Fraser Timber Co., Ltd. | 200 | 9,151 | ||||||
Winpak, Ltd. | 444 | 11,183 | ||||||
Yamana Gold, Inc. (b) | 4,910 | 43,061 | ||||||
1,255,544 | ||||||||
DENMARK — 0.3% | ||||||||
Chr Hansen Holding A/S | 596 | 23,655 | ||||||
FINLAND — 1.6% | ||||||||
Rautaruukki Oyj (a) | 981 | 10,870 | ||||||
Stora Enso Oyj | 6,191 | 66,257 | ||||||
UPM-Kymmene Oyj | 4,361 | 74,591 | ||||||
151,718 | ||||||||
FRANCE — 4.7% | ||||||||
Air Liquide SA | 2,121 | 287,416 | ||||||
Arkema SA | 399 | 45,203 | ||||||
Eramet | 28 | 3,371 | ||||||
Lafarge SA | 1,297 | 101,356 | ||||||
437,346 | ||||||||
GERMANY — 12.1% | ||||||||
BASF SE | 5,420 | 602,689 | ||||||
Evonik Industries AG | 335 | 13,057 | ||||||
Fuchs Petrolub AG Preference Shares | 131 | 13,148 | ||||||
HeidelbergCement AG | 852 | 73,051 | ||||||
K+S AG | 1,305 | 42,888 | ||||||
Lanxess AG | 485 | 36,598 | ||||||
Linde AG | 1,099 | 219,934 | ||||||
Salzgitter AG (b) | 499 | 19,731 | ||||||
Symrise AG | 600 | 29,985 | ||||||
ThyssenKrupp AG (a) | 2,489 | 66,774 | ||||||
Wacker Chemie AG | 91 | 11,116 | ||||||
1,128,971 | ||||||||
GREECE — 0.1% | ||||||||
Titan Cement Co. SA (a) | 310 | 10,848 | ||||||
HONG KONG — 0.1% | ||||||||
Fosun International, Ltd. (b) | 10,000 | 12,569 | ||||||
IRELAND — 2.2% | ||||||||
CRH PLC | 5,319 | 148,048 | ||||||
James Hardie Industries PLC | 2,506 | 33,284 | ||||||
Smurfit Kappa Group PLC | 1,082 | 26,246 | ||||||
207,578 | ||||||||
ISRAEL — 0.5% | ||||||||
Caesarstone Sdot-Yam, Ltd. | 175 | 9,516 | ||||||
Frutarom Industries, Ltd. | 427 | 10,255 |
See accompanying notes to financial statements.
259
SPDR S&P International Materials Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Israel Chemicals, Ltd. | 2,640 | $ | 23,063 | |||||
42,834 | ||||||||
ITALY — 0.1% | ||||||||
Buzzi Unicem SpA (b) | 739 | 13,791 | ||||||
JAPAN — 15.0% | ||||||||
Asahi Kasei Corp. | 11,833 | 80,660 | ||||||
Daicel Corp. | 2,000 | 16,430 | ||||||
Denki Kagaku Kogyo Kabushiki Kaisha | 8,855 | 30,438 | ||||||
DIC Corp. | 4,000 | 10,526 | ||||||
Fuji Seal International, Inc. | 300 | 10,239 | ||||||
Hitachi Metals, Ltd. | 1,000 | 14,264 | ||||||
JFE Holdings, Inc. | 4,356 | 82,184 | ||||||
JSR Corp. | 2,573 | 47,795 | ||||||
Kaneka Corp. | 2,000 | 12,157 | ||||||
Kansai Paint Co., Ltd. | 1,000 | 14,322 | ||||||
Kobe Steel, Ltd. | 29,641 | 39,431 | ||||||
Kuraray Co., Ltd. | 1,300 | 14,895 | ||||||
Maruichi Steel Tube, Ltd. | 400 | 10,367 | ||||||
Mitsubishi Chemical Holdings Corp. | 10,902 | 45,414 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 2,000 | 11,303 | ||||||
Mitsubishi Materials Corp. | 7,866 | 22,379 | ||||||
Mitsui Chemicals, Inc. | 11,876 | 29,175 | ||||||
Mitsui Mining & Smelting Co., Ltd. | 3,809 | 8,803 | ||||||
Nihon Nohyaku Co., Ltd. | 1,000 | 15,099 | ||||||
Nippon Kayaku Co., Ltd. | 1,000 | 11,293 | ||||||
Nippon Paint Co., Ltd. | 1,000 | 15,187 | ||||||
Nippon Paper Industries Co., Ltd. | 600 | 11,332 | ||||||
Nippon Shokubai Co., Ltd. | 1,000 | 11,837 | ||||||
Nippon Steel Corp. | 66,506 | 182,111 | ||||||
Nissan Chemical Industries, Ltd. | 600 | 9,025 | ||||||
Nitto Denko Corp. | 1,176 | 56,433 | ||||||
OJI Paper Co., Ltd. | 8,000 | 35,889 | ||||||
Rengo Co., Ltd. | 2,000 | 10,759 | ||||||
Shin-Etsu Chemical Co., Ltd. | 2,867 | 164,194 | ||||||
Showa Denko K.K. | 6,000 | 8,506 | ||||||
Sumitomo Chemical Co., Ltd. | 13,838 | 51,195 | ||||||
Sumitomo Metal Mining Co., Ltd. | 3,927 | 49,419 | ||||||
T&K Toka Co., Ltd. | 400 | 8,809 | ||||||
Taiheiyo Cement Corp. | 14,744 | 53,258 | ||||||
Teijin, Ltd. | 15,805 | 39,288 | ||||||
The Pack Corp. | 500 | 9,564 | ||||||
Tomoku Co., Ltd. | 3,000 | 8,535 | ||||||
Toray Industries, Inc. | 13,838 | 91,640 | ||||||
Tosoh Corp. | 3,000 | 11,594 | ||||||
Toyo Seikan Group Holdings, Ltd. | 800 | 13,019 | ||||||
Ube Industries, Ltd. | 15,866 | 29,272 | ||||||
Zeon Corp. | 1,000 | 9,069 | ||||||
1,407,109 | ||||||||
LUXEMBOURG — 1.2% | ||||||||
APERAM (a) | 409 | 10,865 | ||||||
ArcelorMittal | 5,720 | 92,199 | ||||||
AZ Electronic Materials SA | 1,822 | 12,235 | ||||||
115,299 | ||||||||
NETHERLANDS — 2.0% | ||||||||
Akzo Nobel NV | 1,410 | 115,104 | ||||||
Koninklijke DSM NV | 1,065 | 73,120 | ||||||
188,224 | ||||||||
NEW ZEALAND — 0.2% | ||||||||
Fletcher Building, Ltd. | 2,675 | 22,098 | ||||||
NORWAY — 0.9% | ||||||||
Norsk Hydro ASA | 4,272 | 21,299 | ||||||
Yara International ASA | 1,477 | 65,277 | ||||||
86,576 | ||||||||
PORTUGAL — 0.4% | ||||||||
Semapa-Sociedade de Investimento e Gestao, SGPS, SA | 2,537 | 37,239 | ||||||
SOUTH KOREA — 4.4% | ||||||||
Aekyung Petrochemical Co., Ltd. | 175 | 10,949 | ||||||
Cheil Industries, Inc. | 400 | 26,944 | ||||||
ENF Technology Co., Ltd. | 1,029 | 9,425 | ||||||
Hanwha Chemical Corp. | 440 | 7,999 | ||||||
Hanwha Corp. | 310 | 9,348 | ||||||
Hyosung Corp. | 135 | 9,740 | ||||||
Hyundai Steel Co. | 307 | 19,843 | ||||||
Korea Zinc Co., Ltd. | 105 | 32,601 | ||||||
Kukdo Chemical Co., Ltd. | 190 | 8,800 | ||||||
LG Chem, Ltd. | 333 | 79,461 | ||||||
Lotte Chemical Corp. | 84 | 14,836 | ||||||
OCI Co., Ltd. (a) | 103 | 17,176 | ||||||
POSCO ADR | 1,828 | 126,881 | ||||||
Samyoung Chemical Co., Ltd. (a) | 4,710 | 10,133 | ||||||
Taekwang Industrial Co., Ltd. | 7 | 9,009 | ||||||
Wonik Materials Co., Ltd. (a) | 230 | 8,589 | ||||||
Youlchon Chemical Co., Ltd. | 840 | 11,758 | ||||||
413,492 | ||||||||
SWEDEN — 0.7% | ||||||||
Boliden AB | 1,674 | 25,406 | ||||||
Hexpol AB | 152 | 13,375 | ||||||
SSAB AB, (Series A) | 2,970 | 22,886 | ||||||
61,667 | ||||||||
SWITZERLAND — 8.6% | ||||||||
Clariant AG (a) | 1,689 | 32,849 | ||||||
EMS-Chemie Holding AG | 49 | 18,513 | ||||||
Givaudan SA (a) | 46 | 71,186 | ||||||
Glencore Xstrata PLC | 65,059 | 334,934 | ||||||
Holcim, Ltd. (a) | 1,346 | 111,538 | ||||||
Sika AG | 6 | 24,561 | ||||||
Syngenta AG | 549 | 207,767 | ||||||
801,348 | ||||||||
UNITED KINGDOM — 15.5% | ||||||||
Alent PLC | 1,618 | 8,551 | ||||||
Anglo American PLC | 8,509 | 216,546 | ||||||
Antofagasta PLC | 2,353 | 32,775 | ||||||
BHP Billiton PLC | 13,253 | 407,427 | ||||||
Croda International PLC | 800 | 33,957 | ||||||
DS Smith PLC | 3,699 | 20,011 | ||||||
Elementis PLC | 2,119 | 10,121 | ||||||
Essentra PLC | 1,405 | 20,437 | ||||||
Fresnillo PLC (b) | 849 | 11,939 | ||||||
Johnson Matthey PLC | 1,551 | 84,580 | ||||||
Lonmin PLC (a) | 1,756 | 8,373 | ||||||
Mondi PLC | 2,000 | 34,977 | ||||||
Randgold Resources, Ltd. | 806 | 60,494 |
See accompanying notes to financial statements.
260
SPDR S&P International Materials Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
Rexam PLC | 4,500 | $ | 36,521 | |||||
Rio Tinto PLC | 7,514 | 418,087 | ||||||
RPC Group PLC | 933 | 9,823 | ||||||
Vedanta Resources PLC | 934 | 14,045 | ||||||
Victrex PLC | 505 | 16,914 | ||||||
1,445,578 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $12,368,442) | 9,271,715 | |||||||
SHORT TERM INVESTMENTS — 11.1% | ||||||||
UNITED STATES — 11.1% | ||||||||
MONEY MARKET FUNDS — 11.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 993,197 | 993,197 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 40,661 | 40,661 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $1,033,858) | 1,033,858 | |||||||
TOTAL INVESTMENTS — 110.2% | ||||||||
(Cost $13,402,300) | 10,305,573 | |||||||
OTHER ASSETS & LIABILITIES — (10.2)% | (950,778 | ) | ||||||
NET ASSETS — 100.0% | $ | 9,354,795 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
261
SPDR S&P International Technology Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
AUSTRALIA — 1.2% | ||||||||
carsales.com, Ltd. | 3,865 | $ | 38,868 | |||||
Computershare, Ltd. | 8,707 | 97,648 | ||||||
Iress, Ltd. | 4,235 | 33,678 | ||||||
170,194 | ||||||||
BELGIUM — 0.2% | ||||||||
Barco NV | 387 | 30,990 | ||||||
CANADA — 3.2% | ||||||||
Blackberry, Ltd. (a) | 7,001 | 56,769 | ||||||
Celestica, Inc. (a) | 3,713 | 40,704 | ||||||
CGI Group, Inc. (Class A) (a) | 3,865 | 119,513 | ||||||
Constellation Software, Inc. | 347 | 84,255 | ||||||
Davis & Henderson Corp. (b) | 1,800 | 50,425 | ||||||
Open Text Corp. | 2,192 | 104,898 | ||||||
456,564 | ||||||||
DENMARK — 0.4% | ||||||||
SimCorp A/S | 1,487 | 60,391 | ||||||
FINLAND — 2.9% | ||||||||
Nokia Oyj (a) | 48,072 | 357,116 | ||||||
Tieto Oyj | 2,427 | 62,384 | ||||||
419,500 | ||||||||
FRANCE — 4.6% | ||||||||
Alcatel-Lucent (a) | 37,426 | 147,629 | ||||||
Atos Origin SA | 913 | 82,585 | ||||||
Cap Gemini SA | 2,183 | 165,329 | ||||||
Dassault Systemes SA | 833 | 97,633 | ||||||
Ingenico (b) | 713 | 66,715 | ||||||
Neopost SA (b) | 656 | 51,825 | ||||||
UbiSoft Entertainment SA (a) | 2,533 | 45,384 | ||||||
657,100 | ||||||||
GERMANY — 10.3% | ||||||||
Aixtron SE (a) | 1,989 | 32,540 | ||||||
Dialog Semiconductor PLC (a)(b) | 1,196 | 29,555 | ||||||
Infineon Technologies AG | 15,068 | 179,888 | ||||||
SAP AG | 12,086 | 978,796 | ||||||
Software AG | 887 | 32,140 | ||||||
United Internet AG | 2,173 | 102,082 | ||||||
Wincor Nixdorf AG | 806 | 57,932 | ||||||
Wirecard AG | 1,411 | 58,575 | ||||||
1,471,508 | ||||||||
HONG KONG — 0.6% | ||||||||
ASM Pacific Technology, Ltd. (b) | 5,249 | 50,954 | ||||||
VTech Holdings, Ltd. | 2,871 | 36,900 | ||||||
87,854 | ||||||||
ISRAEL — 1.6% | ||||||||
Check Point Software Technologies, Ltd. (a)(b) | 2,016 | 136,342 | ||||||
Ituran Location and Control, Ltd. | 1,746 | 43,373 | ||||||
NICE Systems, Ltd. | 1,039 | 45,994 | ||||||
225,709 | ||||||||
JAPAN — 32.6% | ||||||||
Advantest Corp. | 3,078 | 33,385 | ||||||
Alps Electric Co., Ltd. | 4,447 | 53,156 | ||||||
Anritsu Corp. | 2,400 | 27,616 | ||||||
Azbil Corp. | 1,986 | 49,137 | ||||||
Brother Industries, Ltd. | 4,248 | 59,522 | ||||||
Canon, Inc. | 14,919 | 462,267 | ||||||
Citizen Holdings Co., Ltd. | 5,355 | 40,402 | ||||||
Dainippon Screen Manufacturing Co., Ltd. | 5,937 | 27,499 | ||||||
DeNA Co., Ltd. | 1,700 | 30,769 | ||||||
FUJIFILM Holdings Corp. | 6,325 | 170,186 | ||||||
Fujitsu, Ltd. | 26,688 | 161,706 | ||||||
GungHo Online Entertainment, Inc. | 4,800 | 26,241 | ||||||
Hamamatsu Photonics K.K. | 1,100 | 49,667 | ||||||
Hirose Electric Co., Ltd. | 394 | 54,250 | ||||||
Hitachi High-Technologies Corp. | 1,877 | 43,815 | ||||||
Hitachi, Ltd. | 62,325 | 461,151 | ||||||
Horiba, Ltd. | 1,086 | 41,021 | ||||||
Hoya Corp. | 5,635 | 175,805 | ||||||
Ibiden Co., Ltd. | 2,570 | 50,759 | ||||||
IT Holdings Corp. | 2,179 | 35,842 | ||||||
Japan Digital Laboratory Co., Ltd. | 1,883 | 27,207 | ||||||
Kakaku.com, Inc. | 2,300 | 37,498 | ||||||
Keyence Corp. | 592 | 244,710 | ||||||
Konami Corp. | 1,785 | 41,338 | ||||||
Konica Minolta Holdings, Inc. | 7,406 | 69,253 | ||||||
Kyocera Corp. | 4,783 | 216,102 | ||||||
Mitsumi Electric Co., Ltd. | 2,179 | 15,805 | ||||||
Murata Manufacturing Co., Ltd. | 2,769 | 261,749 | ||||||
NEC Corp. | 36,578 | 112,591 | ||||||
Nexon Co., Ltd. | 2,400 | 20,275 | ||||||
Nintendo Co., Ltd. | 1,483 | 176,546 | ||||||
Nippon Electric Glass Co., Ltd. | 6,933 | 35,747 | ||||||
Nomura Research Institute, Ltd. | 2,072 | 65,589 | ||||||
NTT Data Corp. | 2,292 | 89,356 | ||||||
Obic Co., Ltd. | 2,790 | 88,318 | ||||||
Oki Electric Industry Co., Ltd. | 12,776 | 27,417 | ||||||
Omron Corp. | 3,061 | 126,619 | ||||||
Otsuka Corp. | 300 | 39,268 | ||||||
Ricoh Co., Ltd. | 8,901 | 102,852 | ||||||
Rohm Co., Ltd. | 1,580 | 70,650 | ||||||
SCSK Corp. | 1,400 | 37,805 | ||||||
Seiko Epson Corp. | 2,370 | 73,872 | ||||||
Shimadzu Corp. | 5,000 | 44,521 | ||||||
Sumco Corp. | 2,478 | 19,177 | ||||||
Taiyo Yuden Co., Ltd. | 2,184 | 26,996 | ||||||
TDK Corp. | 1,878 | 78,596 | ||||||
Tokyo Electron, Ltd. | 2,470 | 151,699 | ||||||
Trend Micro, Inc. | 1,581 | 49,049 | ||||||
Wacom Co., Ltd. | 2,800 | 19,712 | ||||||
Yahoo! Japan Corp. | 22,519 | 110,643 | ||||||
Yaskawa Electric Corp. | 5,912 | 81,919 | ||||||
Yokogawa Electric Corp. | 3,835 | 62,076 | ||||||
4,679,151 | ||||||||
NETHERLANDS — 6.5% | ||||||||
ASM International NV | 1,122 | 45,054 | ||||||
ASML Holding NV | 5,788 | 536,315 | ||||||
Gemalto NV (b) | 1,203 | 140,170 | ||||||
NXP Semiconductor NV (a)(b) | 2,879 | 169,314 | ||||||
VistaPrint NV (a) | 810 | 39,868 | ||||||
930,721 | ||||||||
See accompanying notes to financial statements.
262
SPDR S&P International Technology Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
SINGAPORE — 1.1% | ||||||||
Flextronics International, Ltd. (a)(b) | 11,644 | $ | 107,590 | |||||
Venture Corp., Ltd. | 8,925 | 52,945 | ||||||
160,535 | ||||||||
SOUTH KOREA — 21.8% | ||||||||
LG Display Co., Ltd. ADR | 7,208 | 90,100 | ||||||
LG Innotek Co., Ltd. (a) | 267 | 25,836 | ||||||
NAVER Corp. | 369 | 268,313 | ||||||
NCSoft Corp. | 225 | 46,080 | ||||||
NHN Entertainment Corp. (a) | 318 | 28,680 | ||||||
Partron Co., Ltd. | 1,120 | 13,889 | ||||||
Sam Young Electronics Co., Ltd. | 3,700 | 36,150 | ||||||
Samsung Electro-Mechanics Co., Ltd. | 835 | 54,362 | ||||||
Samsung Electronics Co., Ltd. GDR | 3,455 | 2,173,195 | ||||||
Samsung SDI Co., Ltd. | 496 | 75,021 | ||||||
Seoul Semiconductor Co., Ltd. | 748 | 31,833 | ||||||
SK C&C Co., Ltd. | 342 | 48,033 | ||||||
SK Hynix, Inc. (a) | 6,980 | 236,065 | ||||||
3,127,557 | ||||||||
SPAIN — 1.8% | ||||||||
Amadeus IT Holding SA | 5,192 | 215,749 | ||||||
Indra Sistemas SA (b) | 2,079 | 41,792 | ||||||
257,541 | ||||||||
SWEDEN — 4.7% | ||||||||
Hexagon AB, (Class B) | 3,528 | 119,658 | ||||||
Telefonaktiebolaget LM Ericsson (Class B) | 41,289 | 548,945 | ||||||
668,603 | ||||||||
SWITZERLAND — 1.3% | ||||||||
Logitech International SA | 2,724 | 40,705 | ||||||
STMicroelectronics NV | 9,669 | 89,553 | ||||||
Temenos Group AG | 1,417 | 49,888 | ||||||
180,146 | ||||||||
UNITED KINGDOM — 4.7% | ||||||||
ARM Holdings PLC | 18,323 | 304,861 | ||||||
Aveva Group PLC | 1,486 | 51,876 | ||||||
Imagination Technologies Group PLC (a)(b) | 3,887 | 13,168 | ||||||
Spectris PLC | 2,246 | 86,796 | ||||||
Spirent Communications PLC | 13,531 | 22,299 | ||||||
Telecity Group PLC | 3,847 | 44,766 | ||||||
The Sage Group PLC | 21,911 | 152,728 | ||||||
676,494 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $13,508,650) | 14,260,558 | |||||||
SHORT TERM INVESTMENTS — 3.4% | ||||||||
UNITED STATES — 3.4% | ||||||||
MONEY MARKET FUNDS — 3.4% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 471,367 | 471,367 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 20,943 | 20,943 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $492,310) | 492,310 | |||||||
TOTAL INVESTMENTS — 102.9% | ||||||||
(Cost $14,000,960) | 14,752,868 | |||||||
OTHER ASSETS & LIABILITIES — (2.9)% | (418,096 | ) | ||||||
NET ASSETS — 100.0% | $ | 14,334,772 | ||||||
(a) | Non-income producing security | |||||
(b) | A portion of the security was on loan at March 31, 2014. | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
263
SPDR S&P International Telecommunications Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.3% | ||||||||
AUSTRALIA — 3.3% | ||||||||
Telstra Corp., Ltd. (a) | 195,706 | $ | 921,462 | |||||
TPG Telecom, Ltd. | 15,237 | 93,914 | ||||||
1,015,376 | ||||||||
AUSTRIA — 0.3% | ||||||||
Telekom Austria AG | 10,093 | 100,379 | ||||||
BELGIUM — 0.6% | ||||||||
Belgacom SA (a) | 6,141 | 192,383 | ||||||
CANADA — 5.2% | ||||||||
BCE, Inc. | 10,114 | 436,318 | ||||||
Bell Aliant, Inc. (a) | 6,218 | 152,330 | ||||||
Rogers Communications, Inc. (Class B) | 16,381 | 678,829 | ||||||
TELUS Corp. (b) | 2,164 | 77,698 | ||||||
TELUS Corp. (a)(b) | 7,018 | 252,297 | ||||||
1,597,472 | ||||||||
DENMARK — 1.0% | ||||||||
TDC A/S | 32,157 | 297,409 | ||||||
FINLAND — 0.6% | ||||||||
Elisa Oyj (a) | 6,855 | 197,367 | ||||||
FRANCE — 10.5% | ||||||||
France Telecom SA | 96,957 | 1,432,524 | ||||||
Iliad SA | 1,002 | 289,044 | ||||||
Vivendi SA | 53,858 | 1,500,926 | ||||||
3,222,494 | ||||||||
GERMANY — 7.5% | ||||||||
Deutsche Telekom AG | 123,413 | 1,995,201 | ||||||
Freenet AG | 5,964 | 208,662 | ||||||
Telefonica Deutschland Holding AG | 11,040 | 88,039 | ||||||
2,291,902 | ||||||||
GREECE — 0.6% | ||||||||
Hellenic Telecommunications Organization SA (c) | 10,534 | 174,222 | ||||||
HONG KONG — 0.7% | ||||||||
HKT Trust/HKT, Ltd. (a) | 108,869 | 114,805 | ||||||
PCCW, Ltd. | 213,000 | 106,815 | ||||||
221,620 | ||||||||
ISRAEL — 0.5% | ||||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 85,440 | 152,047 | ||||||
ITALY — 2.4% | ||||||||
Telecom Italia SpA (b) | 361,596 | 426,604 | ||||||
Telecom Italia SpA (b) | 321,557 | 300,923 | ||||||
727,527 | ||||||||
JAPAN — 19.9% | ||||||||
KDDI Corp. | 23,077 | 1,339,109 | ||||||
Nippon Telegraph & Telephone Corp. | 15,713 | 857,323 | ||||||
NTT DoCoMo, Inc. | 59,987 | 948,282 | ||||||
Softbank Corp. | 38,959 | 2,950,723 | ||||||
6,095,437 | ||||||||
LUXEMBOURG — 1.3% | ||||||||
COLT Telecom Group SA (c) | 43,288 | 106,664 | ||||||
Millicom International Cellular SA | 2,827 | 287,559 | ||||||
394,223 | ||||||||
NETHERLANDS — 2.1% | ||||||||
Koninklijke (Royal) KPN NV (c) | 154,992 | 547,930 | ||||||
Ziggo NV | 1,978 | 87,919 | ||||||
635,849 | ||||||||
NEW ZEALAND — 0.3% | ||||||||
Telecom Corporation of New Zealand, Ltd. (a) | 48,246 | 102,152 | ||||||
NORWAY — 2.1% | ||||||||
Telenor ASA | 29,691 | 658,086 | ||||||
PORTUGAL — 0.4% | ||||||||
Portugal Telecom SGPS SA (a) | 28,382 | 120,756 | ||||||
SINGAPORE — 3.5% | ||||||||
Singapore Telecommunications, Ltd. | 326,539 | 947,769 | ||||||
StarHub, Ltd. | 40,000 | 133,593 | ||||||
1,081,362 | ||||||||
SOUTH KOREA — 2.0% | ||||||||
KT Corp. ADR (c) | 11,322 | 157,263 | ||||||
LG Uplus Corp. | 9,590 | 94,148 | ||||||
SK Telecom Co., Ltd. ADR (a) | 15,518 | 350,241 | ||||||
601,652 | ||||||||
SPAIN — 8.5% | ||||||||
Telefonica SA | 164,861 | 2,609,617 | ||||||
SWEDEN — 2.8% | ||||||||
Tele2 AB | 13,535 | 167,634 | ||||||
TeliaSonera AB | 93,050 | 700,363 | ||||||
867,997 | ||||||||
SWITZERLAND — 1.9% | ||||||||
Swisscom AG | 964 | 592,576 | ||||||
UNITED KINGDOM — 21.3% | ||||||||
BT Group PLC | 323,724 | 2,048,148 | ||||||
Cable & Wireless Communications PLC | 122,438 | 107,369 | ||||||
Inmarsat PLC | 20,127 | 243,775 | ||||||
Jazztel PLC (c) | 9,887 | 150,439 | ||||||
TalkTalk Telecom Group PLC | 24,490 | 130,774 | ||||||
Vodafone Group PLC | 1,051,209 | 3,860,809 | ||||||
6,541,314 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $28,721,343) | 30,491,219 | |||||||
SHORT TERM INVESTMENTS — 14.7% | ||||||||
UNITED STATES — 14.7% | ||||||||
MONEY MARKET FUNDS — 14.7% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 1,701,482 | 1,701,482 |
See accompanying notes to financial statements.
264
SPDR S&P International Telecommunications Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (e)(f) | 2,793,239 | $ | 2,793,239 | |||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $4,494,721) | 4,494,721 | |||||||
TOTAL INVESTMENTS — 114.0% | ||||||||
(Cost $33,216,064) | 34,985,940 | |||||||
OTHER ASSETS & LIABILITIES — (14.0)% | (4,291,309 | ) | ||||||
NET ASSETS — 100.0% | $ | 30,694,631 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. | |||||
(c) | Non-income producing security | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(f) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
265
SPDR S&P International Utilities Sector ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.8% | ||||||||
AUSTRALIA — 3.4% | ||||||||
AGL Energy, Ltd. | 56,735 | $ | 798,238 | |||||
APA Group (a) | 93,981 | 560,094 | ||||||
DUET Group (a) | 119,607 | 230,584 | ||||||
Energy World Corp., Ltd. (b) | 47,099 | 14,187 | ||||||
Envestra, Ltd. | 94,527 | 98,564 | ||||||
SP AusNet (a) | 185,214 | 224,882 | ||||||
Spark Infrastructure Group (a) | 121,171 | 192,046 | ||||||
2,118,595 | ||||||||
AUSTRIA — 0.4% | ||||||||
EVN AG (a) | 2,947 | 41,511 | ||||||
Verbund AG | 10,540 | 216,884 | ||||||
258,395 | ||||||||
BELGIUM — 0.2% | ||||||||
Elia System Operator SA/NV | 2,840 | 143,515 | ||||||
CANADA — 5.0% | ||||||||
Algonquin Power & Utilities Corp. | 17,286 | 122,157 | ||||||
ATCO, Ltd. (Class I) | 7,937 | 381,911 | ||||||
Atlantic Power Corp. (a) | 11,786 | 34,170 | ||||||
Canadian Utilities, Ltd. (Class A) (a) | 12,944 | 482,344 | ||||||
Capital Power Corp. (a) | 7,454 | 173,696 | ||||||
Emera, Inc. | 13,606 | 424,174 | ||||||
Fortis, Inc. (a) | 23,143 | 660,899 | ||||||
Innergex Renewable Energy, Inc. (a) | 9,736 | 87,944 | ||||||
Just Energy Group, Inc. (a) | 7,848 | 63,211 | ||||||
Northland Power, Inc. (a) | 9,028 | 142,321 | ||||||
Superior Plus Corp. (a) | 12,872 | 142,044 | ||||||
TransAlta Corp. (a) | 30,662 | 356,693 | ||||||
Valener, Inc. | 3,872 | 54,585 | ||||||
3,126,149 | ||||||||
CHINA — 0.9% | ||||||||
ENN Energy Holdings, Ltd. | 84,000 | 585,300 | ||||||
FINLAND — 1.6% | ||||||||
Fortum Oyj | 44,563 | 1,013,412 | ||||||
FRANCE — 11.5% | ||||||||
Albioma | 1,703 | 45,770 | ||||||
EDF SA | 30,293 | 1,198,889 | ||||||
GDF Suez | 155,555 | 4,257,857 | ||||||
Rubis | 3,414 | 245,854 | ||||||
Suez Environnement Co. | 29,687 | 603,308 | ||||||
Veolia Environnement SA | 47,200 | 934,166 | ||||||
7,285,844 | ||||||||
GERMANY — 9.7% | ||||||||
E.ON AG | 204,848 | 4,006,286 | ||||||
RWE AG | 52,707 | 2,140,075 | ||||||
6,146,361 | ||||||||
GREECE — 0.3% | ||||||||
Public Power Corp. SA | 10,397 | 171,956 | ||||||
HONG KONG — 7.0% | ||||||||
Cheung Kong Infrastructure Holdings, Ltd. | 59,000 | 376,496 | ||||||
CLP Holdings, Ltd. | 197,500 | 1,489,452 | ||||||
Hong Kong & China Gas Co., Ltd. | 594,021 | 1,295,703 | ||||||
Hongkong Electric Holdings, Ltd. | 132,000 | 1,144,378 | ||||||
Towngas China Co., Ltd. | 83,000 | 101,436 | ||||||
4,407,465 | ||||||||
ITALY — 10.9% | ||||||||
A2A SpA | 151,524 | 196,516 | ||||||
ACEA SpA | 4,580 | 67,795 | ||||||
Enel Green Power SpA | 155,406 | 436,516 | ||||||
Enel SpA | 664,228 | 3,760,759 | ||||||
Hera SpA | 68,507 | 200,170 | ||||||
Iren SpA | 64,018 | 115,585 | ||||||
Snam Rete Gas SpA | 211,174 | 1,236,964 | ||||||
Terna Rete Elettrica Nationale SpA | 157,715 | 845,137 | ||||||
6,859,442 | ||||||||
JAPAN — 11.7% | ||||||||
Chubu Electric Power Co., Inc. (b) | 72,388 | 854,022 | ||||||
Electric Power Development Co., Ltd. | 13,900 | 393,441 | ||||||
Hokkaido Electric Power Co., Inc. (b) | 19,500 | 165,111 | ||||||
Hokuriku Electric Power Co. | 25,294 | 328,870 | ||||||
Japan Wind Development Co., Ltd. (b) | 700 | 4,656 | ||||||
Kyushu Electric Power Co., Inc. | 52,692 | 645,699 | ||||||
Osaka Gas Co., Ltd. | 195,958 | 743,988 | ||||||
Saibu Gas Co., Ltd. | 38,000 | 96,305 | ||||||
Shikoku Electric Power Co., Inc. (b) | 19,600 | 266,447 | ||||||
Shizuoka Gas Co., Ltd. | 1,500 | 9,176 | ||||||
The Chugoku Electric Power Co., Inc. | 32,987 | 460,924 | ||||||
The Kansai Electric Power Co., Inc. (b) | 85,598 | 880,209 | ||||||
The Okinawa Electric Power Co., Inc. | 500 | 16,968 | ||||||
The Tokyo Electric Power Co., Inc. (b) | 82,599 | 333,652 | ||||||
Toho Gas Co., Ltd. | 65,000 | 354,712 | ||||||
Tohoku Electric Power Co., Inc. | 59,172 | 611,342 | ||||||
Tokyo Gas Co., Ltd. | 243,958 | 1,241,287 | ||||||
7,406,809 | ||||||||
NEW ZEALAND — 0.8% | ||||||||
Contact Energy, Ltd. | 36,516 | 168,573 | ||||||
Infratil, Ltd. | 61,588 | 120,781 | ||||||
Mighty River Power, Ltd. | 68,795 | 130,736 | ||||||
Vector, Ltd. (a) | 25,090 | 52,906 | ||||||
472,996 | ||||||||
PORTUGAL — 1.7% | ||||||||
EDP — Energias de Portugal SA (a) | 234,718 | 1,090,519 | ||||||
SINGAPORE — 0.1% | ||||||||
Hyflux, Ltd. | 58,000 | 56,499 | ||||||
SOUTH KOREA — 1.5% | ||||||||
Korea Electric Power Corp. ADR | 55,910 | 959,975 | ||||||
SPAIN — 11.3% | ||||||||
Acciona SA | 3,085 | 267,189 | ||||||
EDP Renovaveis SA | 20,540 | 136,847 | ||||||
Enagas SA | 23,543 | 716,293 | ||||||
Endesa SA | 9,136 | 328,958 | ||||||
Gas Natural SDG SA | 35,858 | 1,008,688 | ||||||
Iberdrola SA | 538,327 | 3,766,133 | ||||||
Red Electrica Corporacion SA | 11,080 | 900,989 | ||||||
7,125,097 | ||||||||
SWITZERLAND — 0.1% | ||||||||
Alpiq Holding AG | 472 | 65,188 | ||||||
See accompanying notes to financial statements.
266
SPDR S&P International Utilities Sector ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
March 31, 2014 (Unaudited)
Security Description | Shares | Value | ||||||
UNITED KINGDOM — 21.7% | ||||||||
APR Energy PLC (a) | 4,989 | $ | 66,997 | |||||
Centrica PLC | 539,381 | 2,964,758 | ||||||
Drax Group PLC | 44,828 | 572,470 | ||||||
National Grid PLC | 394,580 | 5,407,314 | ||||||
Pennon Group PLC | 38,776 | 479,992 | ||||||
Scottish & Southern Energy PLC | 98,111 | 2,402,781 | ||||||
Severn Trent PLC | 24,395 | 741,417 | ||||||
Telecom Plus PLC | 5,547 | 165,441 | ||||||
United Utilities Group PLC | 69,804 | 917,025 | ||||||
13,718,195 | ||||||||
TOTAL COMMON STOCKS — | ||||||||
(Cost $58,049,875) | 63,011,712 | |||||||
SHORT TERM INVESTMENTS — 4.5% | ||||||||
UNITED STATES — 4.5% | ||||||||
MONEY MARKET FUNDS — 4.5% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 2,579,449 | 2,579,449 | ||||||
State Street Institutional Liquid Reserves Fund 0.08% (d)(e) | 237,529 | 237,529 | ||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||
(Cost $2,816,978) | 2,816,978 | |||||||
TOTAL INVESTMENTS — 104.3% | ||||||||
(Cost $60,866,853) | 65,828,690 | |||||||
OTHER ASSETS & LIABILITIES — (4.3)% | (2,684,515 | ) | ||||||
NET ASSETS — 100.0% | $ | 63,144,175 | ||||||
(a) | A portion of the security was on loan at March 31, 2014. | |||||
(b) | Non-income producing security | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3). | |||||
(e) | The rate shown is the annualized seven-day yield at period end. |
ADR = American Depositary Receipt
PLC = Public Limited Company
See accompanying notes to financial statements.
267
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
STATEMENTS OF ASSETS AND LIABILITIES
March 31, 2014 (Unaudited)
SPDR S&P Emerging | ||||||||||||||||||||||||||||||||||||||||
SPDR STOXX | SPDR EURO | SPDR S&P Emerging | SPDR S&P Small Cap Emerging | SPDR S&P Emerging | Markets | SPDR S&P | SPDR S&P Emerging | |||||||||||||||||||||||||||||||||
Europe | STOXX | Asia Pacific | Asia Pacific | SPDR S&P Russia | SPDR S&P | Markets | Dividend | BRIC | Europe | |||||||||||||||||||||||||||||||
50 ETF | 50 ETF | ETF | ETF | ETF | China ETF | ETF | ETF | 40 ETF | ETF | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 228,158,020 | $ | 5,235,326,221 | $ | 413,644,520 | $ | 4,146,845 | $ | 20,896,482 | $ | 775,590,336 | $ | 194,607,745 | $ | 469,462,074 | $ | 157,580,939 | $ | 77,323,505 | ||||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 6,707,550 | 13,203,483 | 24,646,670 | 237,381 | 163,560 | 110,358,043 | 21,217,059 | 86,656,377 | 11,045,506 | 1,928,693 | ||||||||||||||||||||||||||||||
Total Investments | 234,865,570 | 5,248,529,704 | 438,291,190 | 4,384,226 | 21,060,042 | 885,948,379 | 215,824,804 | 556,118,451 | 168,626,445 | 79,252,198 | ||||||||||||||||||||||||||||||
Foreign currency, at value | 691,240 | 4,273,093 | 2,738,661 | 7,752 | 108 | 445,394 | 1,543,268 | 1,868,364 | 2,348 | 15,347 | ||||||||||||||||||||||||||||||
Initial margin deposit on futures | — | — | — | — | — | — | 32,725 | — | — | — | ||||||||||||||||||||||||||||||
Receivable for investments sold | — | — | — | — | 153,141 | — | 32 | — | — | — | ||||||||||||||||||||||||||||||
Receivable for fund shares sold | — | — | — | — | 3,374,254 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Receivable for foreign taxes recoverable | 238,174 | 1,570,823 | — | — | — | — | — | — | — | 17 | ||||||||||||||||||||||||||||||
Dividends and interest receivable — unaffiliated issuers | 760,880 | 1,080,094 | 458,487 | 5,875 | 11 | 178,862 | 185,530 | 1,022,042 | 24,167 | 36,780 | ||||||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 105 | 236 | 22 | 3 | 3 | 54 | 46 | 20 | 28 | 4 | ||||||||||||||||||||||||||||||
Receivable from broker — variation margin on open futures contracts | — | — | — | — | — | — | 38,387 | — | — | — | ||||||||||||||||||||||||||||||
TOTAL ASSETS | 236,555,969 | 5,255,453,950 | 441,488,360 | 4,397,856 | 24,587,559 | 886,572,689 | 217,624,792 | 559,008,877 | 168,652,988 | 79,304,346 | ||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 100,838 | — | 24,195,413 | 187,862 | 88,752 | 109,976,342 | 20,288,884 | 86,205,053 | 10,446,883 | 1,769,049 | ||||||||||||||||||||||||||||||
Payable for investments purchased | 531,803 | — | — | — | 3,430,715 | — | 13,938 | — | — | — | ||||||||||||||||||||||||||||||
Distributions payable | 6,379,935 | 12,130,269 | — | — | — | — | — | 218,953 | — | — | ||||||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 154,889 | 3,650,529 | 564,786 | 4,896 | 28,532 | 1,150,065 | 296,332 | 655,879 | 227,577 | 106,808 | ||||||||||||||||||||||||||||||
Deferred foreign taxes payable | — | — | 728,270 | 15,319 | — | — | 111,837 | 173,110 | — | — | ||||||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 9 | 1,662 | 322 | 2 | 28 | 686 | 168 | 472 | 214 | 65 | ||||||||||||||||||||||||||||||
TOTAL LIABILITIES | 7,167,474 | 15,782,460 | 25,488,791 | 208,079 | 3,548,027 | 111,127,093 | 20,711,159 | 87,253,467 | 10,674,674 | 1,875,922 | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 229,388,495 | $ | 5,239,671,490 | $ | 415,999,569 | $ | 4,189,777 | $ | 21,039,532 | $ | 775,445,596 | $ | 196,913,633 | $ | 471,755,410 | $ | 157,978,314 | $ | 77,428,424 | ||||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 245,043,821 | $ | 4,588,656,361 | $ | 415,903,248 | $ | 3,896,957 | $ | 32,198,491 | $ | 918,331,227 | $ | 224,882,336 | $ | 598,169,401 | $ | 283,146,870 | $ | 142,641,333 | ||||||||||||||||||||
Undistributed (distribution in excess of) net investment income | (336,421 | ) | (10,357,469 | ) | (732,001 | ) | (30,264 | ) | 32,406 | (1,075,478 | ) | 347,080 | (537,293 | ) | 209,811 | 15,644 | ||||||||||||||||||||||||
Accumulated net realized gain (loss) on investments, foreign currency transactions and futures | (26,146,246 | ) | (138,558,942 | ) | (24,460,688 | ) | 25,657 | (3,282,515 | ) | (83,323,922 | ) | (10,259,503 | ) | (101,318,969 | ) | (90,523,300 | ) | (34,593,099 | ) | |||||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments (net of deferred foreign taxes of $0, $0, $728,270, $15,319, $0, $0, $111,837, $173,110, $0, $0, respectively) | 10,821,395 | 799,860,602 | 25,293,608 | 297,363 | (7,908,854 | ) | (58,486,063 | ) | (18,096,773 | ) | (24,611,043 | ) | (34,855,066 | ) | (30,635,560 | ) | ||||||||||||||||||||||||
Foreign currency | 5,946 | 70,938 | (4,598 | ) | 64 | 4 | (168 | ) | 15,575 | 53,314 | (1 | ) | 106 | |||||||||||||||||||||||||||
Futures | — | — | — | — | — | — | 24,918 | — | — | — | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 229,388,495 | $ | 5,239,671,490 | $ | 415,999,569 | $ | 4,189,777 | $ | 21,039,532 | $ | 775,445,596 | $ | 196,913,633 | $ | 471,755,410 | $ | 157,978,314 | $ | 77,428,424 | ||||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 38.23 | $ | 42.63 | $ | 77.04 | $ | 41.90 | $ | 23.38 | $ | 72.47 | $ | 63.52 | $ | 38.20 | $ | 22.25 | $ | 36.87 | ||||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 6,000,370 | 122,900,967 | 5,400,000 | 100,000 | 900,000 | 10,700,000 | 3,100,000 | 12,350,000 | 7,100,000 | 2,100,000 | ||||||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 217,336,625 | $ | 4,435,465,619 | $ | 387,622,642 | $ | 3,834,163 | $ | 28,805,336 | $ | 834,076,399 | $ | 212,592,681 | $ | 493,900,007 | $ | 192,436,005 | $ | 107,959,065 | ||||||||||||||||||||
Affiliated issuers | 6,707,550 | 13,203,483 | 24,646,670 | 237,381 | 163,560 | 110,358,043 | 21,217,059 | 86,656,377 | 11,045,506 | 1,928,693 | ||||||||||||||||||||||||||||||
�� | ||||||||||||||||||||||||||||||||||||||||
Total cost of investments | $ | 224,044,175 | $ | 4,448,669,102 | $ | 412,269,312 | $ | 4,071,544 | $ | 28,968,896 | $ | 944,434,442 | $ | 233,809,740 | $ | 580,556,384 | $ | 203,481,511 | $ | 109,887,758 | ||||||||||||||||||||
Foreign currency, at cost | $ | 688,713 | $ | 4,273,458 | $ | 2,743,797 | $ | 7,695 | $ | 104 | $ | 445,562 | $ | 1,529,118 | $ | 1,818,489 | $ | 2,349 | $ | 15,241 | ||||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 95,275 | $ | — | $ | 23,243,916 | $ | 171,224 | $ | 87,106 | $ | 105,178,961 | $ | 19,345,562 | $ | 82,274,418 | $ | 10,224,802 | $ | 1,745,774 | ||||||||||||||||||||
See accompanying notes to financial statements.
268
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
SPDR S&P Emerging | ||||||||||||||||||||||||||||||||||||||||
SPDR STOXX | SPDR EURO | SPDR S&P Emerging | SPDR S&P Small Cap Emerging | SPDR S&P Emerging | Markets | SPDR S&P | SPDR S&P Emerging | |||||||||||||||||||||||||||||||||
Europe | STOXX | Asia Pacific | Asia Pacific | SPDR S&P Russia | SPDR S&P | Markets | Dividend | BRIC | Europe | |||||||||||||||||||||||||||||||
50 ETF | 50 ETF | ETF | ETF | ETF | China ETF | ETF | ETF | 40 ETF | ETF | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 228,158,020 | $ | 5,235,326,221 | $ | 413,644,520 | $ | 4,146,845 | $ | 20,896,482 | $ | 775,590,336 | $ | 194,607,745 | $ | 469,462,074 | $ | 157,580,939 | $ | 77,323,505 | ||||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 6,707,550 | 13,203,483 | 24,646,670 | 237,381 | 163,560 | 110,358,043 | 21,217,059 | 86,656,377 | 11,045,506 | 1,928,693 | ||||||||||||||||||||||||||||||
Total Investments | 234,865,570 | 5,248,529,704 | 438,291,190 | 4,384,226 | 21,060,042 | 885,948,379 | 215,824,804 | 556,118,451 | 168,626,445 | 79,252,198 | ||||||||||||||||||||||||||||||
Foreign currency, at value | 691,240 | 4,273,093 | 2,738,661 | 7,752 | 108 | 445,394 | 1,543,268 | 1,868,364 | 2,348 | 15,347 | ||||||||||||||||||||||||||||||
Initial margin deposit on futures | — | — | — | — | — | — | 32,725 | — | — | — | ||||||||||||||||||||||||||||||
Receivable for investments sold | — | — | — | — | 153,141 | — | 32 | — | — | — | ||||||||||||||||||||||||||||||
Receivable for fund shares sold | — | — | — | — | 3,374,254 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Receivable for foreign taxes recoverable | 238,174 | 1,570,823 | — | — | — | — | — | — | — | 17 | ||||||||||||||||||||||||||||||
Dividends and interest receivable — unaffiliated issuers | 760,880 | 1,080,094 | 458,487 | 5,875 | 11 | 178,862 | 185,530 | 1,022,042 | 24,167 | 36,780 | ||||||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 105 | 236 | 22 | 3 | 3 | 54 | 46 | 20 | 28 | 4 | ||||||||||||||||||||||||||||||
Receivable from broker — variation margin on open futures contracts | — | — | — | — | — | — | 38,387 | — | — | — | ||||||||||||||||||||||||||||||
TOTAL ASSETS | 236,555,969 | 5,255,453,950 | 441,488,360 | 4,397,856 | 24,587,559 | 886,572,689 | 217,624,792 | 559,008,877 | 168,652,988 | 79,304,346 | ||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 100,838 | — | 24,195,413 | 187,862 | 88,752 | 109,976,342 | 20,288,884 | 86,205,053 | 10,446,883 | 1,769,049 | ||||||||||||||||||||||||||||||
Payable for investments purchased | 531,803 | — | — | — | 3,430,715 | — | 13,938 | — | — | — | ||||||||||||||||||||||||||||||
Distributions payable | 6,379,935 | 12,130,269 | — | — | — | — | — | 218,953 | — | — | ||||||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 154,889 | 3,650,529 | 564,786 | 4,896 | 28,532 | 1,150,065 | 296,332 | 655,879 | 227,577 | 106,808 | ||||||||||||||||||||||||||||||
Deferred foreign taxes payable | — | — | 728,270 | 15,319 | — | — | 111,837 | 173,110 | — | — | ||||||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 9 | 1,662 | 322 | 2 | 28 | 686 | 168 | 472 | 214 | 65 | ||||||||||||||||||||||||||||||
TOTAL LIABILITIES | 7,167,474 | 15,782,460 | 25,488,791 | 208,079 | 3,548,027 | 111,127,093 | 20,711,159 | 87,253,467 | 10,674,674 | 1,875,922 | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 229,388,495 | $ | 5,239,671,490 | $ | 415,999,569 | $ | 4,189,777 | $ | 21,039,532 | $ | 775,445,596 | $ | 196,913,633 | $ | 471,755,410 | $ | 157,978,314 | $ | 77,428,424 | ||||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 245,043,821 | $ | 4,588,656,361 | $ | 415,903,248 | $ | 3,896,957 | $ | 32,198,491 | $ | 918,331,227 | $ | 224,882,336 | $ | 598,169,401 | $ | 283,146,870 | $ | 142,641,333 | ||||||||||||||||||||
Undistributed (distribution in excess of) net investment income | (336,421 | ) | (10,357,469 | ) | (732,001 | ) | (30,264 | ) | 32,406 | (1,075,478 | ) | 347,080 | (537,293 | ) | 209,811 | 15,644 | ||||||||||||||||||||||||
Accumulated net realized gain (loss) on investments, foreign currency transactions and futures | (26,146,246 | ) | (138,558,942 | ) | (24,460,688 | ) | 25,657 | (3,282,515 | ) | (83,323,922 | ) | (10,259,503 | ) | (101,318,969 | ) | (90,523,300 | ) | (34,593,099 | ) | |||||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments (net of deferred foreign taxes of $0, $0, $728,270, $15,319, $0, $0, $111,837, $173,110, $0, $0, respectively) | 10,821,395 | 799,860,602 | 25,293,608 | 297,363 | (7,908,854 | ) | (58,486,063 | ) | (18,096,773 | ) | (24,611,043 | ) | (34,855,066 | ) | (30,635,560 | ) | ||||||||||||||||||||||||
Foreign currency | 5,946 | 70,938 | (4,598 | ) | 64 | 4 | (168 | ) | 15,575 | 53,314 | (1 | ) | 106 | |||||||||||||||||||||||||||
Futures | — | — | — | — | — | — | 24,918 | — | — | — | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 229,388,495 | $ | 5,239,671,490 | $ | 415,999,569 | $ | 4,189,777 | $ | 21,039,532 | $ | 775,445,596 | $ | 196,913,633 | $ | 471,755,410 | $ | 157,978,314 | $ | 77,428,424 | ||||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 38.23 | $ | 42.63 | $ | 77.04 | $ | 41.90 | $ | 23.38 | $ | 72.47 | $ | 63.52 | $ | 38.20 | $ | 22.25 | $ | 36.87 | ||||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 6,000,370 | 122,900,967 | 5,400,000 | 100,000 | 900,000 | 10,700,000 | 3,100,000 | 12,350,000 | 7,100,000 | 2,100,000 | ||||||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 217,336,625 | $ | 4,435,465,619 | $ | 387,622,642 | $ | 3,834,163 | $ | 28,805,336 | $ | 834,076,399 | $ | 212,592,681 | $ | 493,900,007 | $ | 192,436,005 | $ | 107,959,065 | ||||||||||||||||||||
Affiliated issuers | 6,707,550 | 13,203,483 | 24,646,670 | 237,381 | 163,560 | 110,358,043 | 21,217,059 | 86,656,377 | 11,045,506 | 1,928,693 | ||||||||||||||||||||||||||||||
Total cost of investments | $ | 224,044,175 | $ | 4,448,669,102 | $ | 412,269,312 | $ | 4,071,544 | $ | 28,968,896 | $ | 944,434,442 | $ | 233,809,740 | $ | 580,556,384 | $ | 203,481,511 | $ | 109,887,758 | ||||||||||||||||||||
Foreign currency, at cost | $ | 688,713 | $ | 4,273,458 | $ | 2,743,797 | $ | 7,695 | $ | 104 | $ | 445,562 | $ | 1,529,118 | $ | 1,818,489 | $ | 2,349 | $ | 15,241 | ||||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 95,275 | $ | — | $ | 23,243,916 | $ | 171,224 | $ | 87,106 | $ | 105,178,961 | $ | 19,345,562 | $ | 82,274,418 | $ | 10,224,802 | $ | 1,745,774 | ||||||||||||||||||||
269
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2014 (Unaudited)
SPDR S&P Emerging | SPDR S&P Global | |||||||||||||||||||||||||||||||||||||||
SPDR S&P Emerging | Middle | SPDR Dow Jones International | SPDR S&P Global | Natural | ||||||||||||||||||||||||||||||||||||
Latin America | East & Africa | SPDR S&P International | Real Estate | Infrastructure | Resources | SPDR MSCI | SPDR MSCI EM | |||||||||||||||||||||||||||||||||
ETF | ETF | SPDR S&P World ex-US ETF | Small Cap ETF | ETF | ETF | ETF | SPDR MSCI ACWI ex-US ETF | ACWI IMI ETF | 50 ETF | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 55,148,897 | $ | 63,150,837 | $ | 893,422,306 | $ | 870,794,977 | $ | 4,212,124,535 | �� | $ | 95,244,197 | $ | 525,828,413 | $ | 545,234,855 | $ | 12,422,871 | $ | 4,698,422 | |||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 8,331,149 | 15,241,690 | 48,702,755 | 96,433,278 | 120,442,339 | 14,339,197 | 38,613,580 | 32,460,741 | 2,532,500 | 660,229 | ||||||||||||||||||||||||||||||
Total Investments | 63,480,046 | 78,392,527 | 942,125,061 | 967,228,255 | 4,332,566,874 | 109,583,394 | 564,441,993 | 577,695,596 | 14,955,371 | 5,358,651 | ||||||||||||||||||||||||||||||
Cash | — | — | — | — | — | — | — | — | 108 | — | ||||||||||||||||||||||||||||||
Foreign currency, at value | 54,874 | 357,957 | 2,554,948 | 2,368,093 | 4,299,063 | 493,010 | 1,623,191 | 2,272,769 | 25,779 | 4,208 | ||||||||||||||||||||||||||||||
Receivable for investments sold | 83 | — | — | 229,682 | — | 3,761,966 | — | 89 | 2 | — | ||||||||||||||||||||||||||||||
Receivable for fund shares sold | — | — | — | — | — | — | 12,525,201 | — | — | — | ||||||||||||||||||||||||||||||
Receivable for foreign currency contracts sold | — | — | 1,419,702 | 115,002 | — | 1,232,228 | — | — | — | — | ||||||||||||||||||||||||||||||
Receivable for foreign taxes recoverable | — | — | 534,885 | 282,264 | 1,285,665 | 35,589 | 115,896 | 343,786 | 4,074 | — | ||||||||||||||||||||||||||||||
Dividends and interest receivable — unaffiliated issuers | 77,154 | 59,710 | 3,464,249 | 3,991,824 | 12,645,720 | 126,156 | 926,737 | 2,036,639 | 30,105 | 1,296 | ||||||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 8 | 5 | 67 | 69 | 383 | 5 | 71 | 45 | 6 | — | ||||||||||||||||||||||||||||||
Prepaid expenses | — | — | — | — | — | — | — | — | 4 | — | ||||||||||||||||||||||||||||||
TOTAL ASSETS | 63,612,165 | 78,810,199 | 950,098,912 | 974,215,189 | 4,350,797,705 | 115,232,348 | 579,633,089 | 582,348,924 | 15,015,449 | 5,364,155 | ||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 8,292,575 | 14,964,218 | 47,414,913 | 94,883,675 | 91,383,076 | 14,286,100 | 37,142,261 | 32,219,781 | 2,424,184 | 657,241 | ||||||||||||||||||||||||||||||
Payable for investments purchased | 12,278 | — | 1,609,211 | 835,783 | 532,339 | 4,181,945 | 12,898,032 | — | — | — | ||||||||||||||||||||||||||||||
Payable for foreign currency contracts purchased | — | — | 1,417,069 | 115,000 | — | 1,233,120 | — | — | — | — | ||||||||||||||||||||||||||||||
Distributions payable | — | — | — | — | 26,551,137 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 75,461 | 88,115 | 709,031 | 1,249,129 | 6,058,137 | 80,808 | 486,811 | 434,024 | 7,583 | 5,413 | ||||||||||||||||||||||||||||||
Deferred foreign taxes payable | — | — | — | — | 267,983 | — | — | 40,066 | — | — | ||||||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 61 | 56 | 413 | 540 | 139,703 | 27 | 198 | 350 | — | — | ||||||||||||||||||||||||||||||
TOTAL LIABILITIES | 8,380,375 | 15,052,389 | 51,150,637 | 97,084,127 | 124,932,375 | 19,782,000 | 50,527,302 | 32,694,221 | 2,431,767 | 662,654 | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 55,231,790 | $ | 63,757,810 | $ | 898,948,275 | $ | 877,131,062 | $ | 4,225,865,330 | $ | 95,450,348 | $ | 529,105,787 | $ | 549,654,703 | $ | 12,583,682 | $ | 4,701,501 | ||||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 93,408,619 | $ | 90,884,600 | $ | 782,214,338 | $ | 827,577,711 | $ | 4,496,999,666 | $ | 107,169,016 | $ | 585,131,897 | $ | 605,779,574 | $ | 11,082,111 | $ | 4,827,947 | ||||||||||||||||||||
Undistributed (distribution in excess of) net investment income | 111,465 | (1,320 | ) | 7,953,788 | (8,024,469 | ) | (198,727,287 | ) | 426,945 | 2,866,286 | 4,788,643 | 82,287 | (3,635 | ) | ||||||||||||||||||||||||||
Accumulated net realized gain (loss) on investments and foreign currency transactions | (18,131,550 | ) | (22,512,077 | ) | (2,666,208 | ) | 13,368,564 | (599,686,834 | ) | (16,175,018 | ) | (56,673,787 | ) | (62,820,453 | ) | (5,270 | ) | (120,906 | ) | |||||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments (net of deferred foreign taxes of $0, $0, $0, $0, $267,983, $0, $0, $40,066, $0, $0, respectively) | (20,158,540 | ) | (4,615,921 | ) | 111,418,580 | 44,216,703 | 527,231,790 | 4,028,274 | (2,238,592 | ) | 1,888,255 | 1,424,221 | (1,915 | ) | ||||||||||||||||||||||||||
Foreign currency | 1,796 | 2,528 | 27,777 | (7,447 | ) | 47,995 | 1,131 | 19,983 | 18,684 | 333 | 10 | |||||||||||||||||||||||||||||
NET ASSETS | $ | 55,231,790 | $ | 63,757,810 | $ | 898,948,275 | $ | 877,131,062 | $ | 4,225,865,330 | $ | 95,450,348 | $ | 529,105,787 | $ | 549,654,703 | $ | 12,583,682 | $ | 4,701,501 | ||||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 61.37 | $ | 70.84 | $ | 29.38 | $ | 34.00 | $ | 41.13 | $ | 47.73 | $ | 50.15 | $ | 35.69 | $ | 62.92 | $ | 47.02 | ||||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 900,000 | 900,000 | 30,600,000 | 25,800,000 | 102,735,379 | 2,000,000 | 10,550,000 | 15,400,000 | 200,000 | 100,000 | ||||||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 75,307,437 | $ | 67,766,758 | $ | 782,003,726 | $ | 826,578,274 | $ | 3,684,624,762 | $ | 91,215,923 | $ | 528,067,005 | $ | 543,306,534 | $ | 10,998,650 | $ | 4,700,337 | ||||||||||||||||||||
Affiliated issuers | 8,331,149 | 15,241,690 | 48,702,755 | 96,433,278 | 120,442,339 | 14,339,197 | 38,613,580 | 32,460,741 | 2,532,500 | 660,229 | ||||||||||||||||||||||||||||||
Total cost of investments | $ | 83,638,586 | $ | 83,008,448 | $ | 830,706,481 | $ | 923,011,552 | $ | 3,805,067,101 | $ | 105,555,120 | $ | 566,680,585 | $ | 575,767,275 | $ | 13,531,150 | $ | 5,360,566 | ||||||||||||||||||||
Foreign currency, at cost | $ | 54,518 | $ | 355,738 | $ | 2,542,277 | $ | 2,365,306 | $ | 4,269,241 | $ | 491,572 | $ | 1,614,420 | $ | 2,266,126 | $ | 25,606 | $ | 4,188 | ||||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 8,012,892 | $ | 14,178,163 | $ | 49,068,774 | $ | 90,890,124 | $ | 86,360,511 | $ | 13,871,804 | $ | 36,126,722 | $ | 33,570,933 | $ | 2,408,388 | $ | 640,923 | ||||||||||||||||||||
See accompanying notes to financial statements.
270
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
271
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2014 (Unaudited)
SPDR S&P International | SPDR S&P International | |||||||||||||||||||||||||||||||||||||||
Consumer | Consumer | |||||||||||||||||||||||||||||||||||||||
SPDR S&P Global | SPDR S&P International | SPDR S&P Emerging | SPDR Dow Jones Global | Discretionary | Staples | |||||||||||||||||||||||||||||||||||
SPDR MSCI EM Beyond | SPDR Russell/Nomura | SPDR Russell/Nomura | Dividend | Dividend | SPDR S&P | Markets | Real Estate | Sector | Sector | |||||||||||||||||||||||||||||||
BRIC ETF | PRIME Japan ETF | Small Cap Japan ETF | ETF | ETF | International Mid Cap ETF | Small Cap ETF | ETF | ETF | ETF | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 6,139,175 | $ | 129,745,079 | $ | 72,585,473 | $ | 16,605,046 | $ | 1,385,450,135 | $ | 55,512,807 | $ | 641,832,634 | $ | 1,093,781,224 | $ | 19,427,650 | $ | 37,534,001 | ||||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 119,181 | 14,303,613 | 13,710,018 | 2,922,779 | 217,164,394 | 7,596,748 | 38,623,284 | 61,460,230 | 606,348 | 1,885,024 | ||||||||||||||||||||||||||||||
Total Investments | 6,258,356 | 144,048,692 | 86,295,491 | 19,527,825 | 1,602,614,529 | 63,109,555 | 680,455,918 | 1,155,241,454 | 20,033,998 | 39,419,025 | ||||||||||||||||||||||||||||||
Foreign currency, at value | 9,974 | 128,563 | 93,444 | 39,004 | 5,310,839 | 388,356 | 2,138,010 | 558,517 | 8,913 | 39,006 | ||||||||||||||||||||||||||||||
Receivable for investments sold | 6,342 | — | — | — | — | — | 926,319 | — | 3,904,818 | — | ||||||||||||||||||||||||||||||
Receivable for fund shares sold | — | — | — | — | — | — | — | 8,714,016 | — | — | ||||||||||||||||||||||||||||||
Receivable for foreign currency contracts sold | — | — | — | — | 4,180,000 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Receivable for foreign taxes recoverable | 683 | 72,544 | 41,254 | 3,316 | 530,773 | 17,013 | 11,955 | 156,011 | 8,494 | 39,419 | ||||||||||||||||||||||||||||||
Dividends and interest receivable — unaffiliated issuers | 11,712 | 1,075,409 | 588,201 | 59,389 | 5,090,285 | 211,925 | 687,035 | 3,019,587 | 88,892 | 252,813 | ||||||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 3 | 1 | 6 | 1 | 95 | — | 56 | 165 | 5 | 5 | ||||||||||||||||||||||||||||||
TOTAL ASSETS | 6,287,070 | 145,325,209 | 87,018,396 | 19,629,535 | 1,617,726,521 | 63,726,849 | 684,219,293 | 1,167,689,750 | 24,045,120 | 39,750,268 | ||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 119,181 | 14,293,744 | 13,510,788 | 2,846,232 | 210,761,578 | 7,586,827 | 36,705,169 | 49,574,378 | 516,580 | 1,686,812 | ||||||||||||||||||||||||||||||
Payable for investments purchased | — | — | — | — | — | — | — | 13,103,650 | — | — | ||||||||||||||||||||||||||||||
Due to custodian | 1,277 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Payable for fund shares repurchased | — | — | — | — | — | — | — | — | 3,875,598 | — | ||||||||||||||||||||||||||||||
Payable for foreign currency contracts purchased | — | — | — | — | 4,180,352 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Distributions payable | — | — | — | 72,342 | 10,001,408 | — | — | 5,746,725 | 27,136 | 192,949 | ||||||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 10,506 | 163,490 | 111,338 | 13,429 | 1,469,115 | 60,364 | 1,042,686 | 1,268,328 | 29,486 | 45,657 | ||||||||||||||||||||||||||||||
Deferred foreign taxes payable | — | — | — | — | 84,869 | — | 590,900 | 29,914 | — | — | ||||||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 13 | 78 | 66 | 5 | 1,002 | 30 | 635 | 764 | 10 | 26 | ||||||||||||||||||||||||||||||
TOTAL LIABILITIES | 130,977 | 14,457,312 | 13,622,192 | 2,932,008 | 226,498,324 | 7,647,221 | 38,339,390 | 69,723,759 | 4,448,810 | 1,925,444 | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 6,156,093 | $ | 130,867,897 | $ | 73,396,204 | $ | 16,697,527 | $ | 1,391,228,197 | $ | 56,079,628 | $ | 645,879,903 | $ | 1,097,965,991 | $ | 19,596,310 | $ | 37,824,824 | ||||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 6,057,747 | $ | 138,791,563 | $ | 89,933,183 | $ | 15,652,047 | $ | 1,477,877,895 | $ | 49,568,688 | $ | 765,255,778 | $ | 1,048,360,037 | $ | 18,009,523 | $ | 33,224,444 | ||||||||||||||||||||
Undistributed (distribution in excess of) net investment income | 9,388 | 661,236 | (667,959 | ) | 16,086 | 173,040 | (207,885 | ) | 1,058,667 | (13,979,477 | ) | 69,661 | 22,135 | |||||||||||||||||||||||||||
Accumulated net realized gain (loss) on investments and foreign currency transactions | (24,128 | ) | (1,847,113 | ) | (6,112,782 | ) | 345,194 | (148,920,475 | ) | 160,741 | (61,239,305 | ) | (19,341,573 | ) | (18,921 | ) | (59,495 | ) | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments (net of deferred foreign taxes of $0, $0, $0, $0, $84,869, $0, $590,900, $29,914, $0, $0, respectively) | 113,015 | (6,727,833 | ) | (9,750,963 | ) | 683,473 | 61,986,109 | 6,553,074 | (59,218,474 | ) | 82,921,882 | 1,535,343 | 4,634,444 | |||||||||||||||||||||||||||
Foreign currency | 71 | (9,956 | ) | (5,275 | ) | 727 | 111,628 | 5,010 | 23,237 | 5,122 | 704 | 3,296 | ||||||||||||||||||||||||||||
NET ASSETS | $ | 6,156,093 | $ | 130,867,897 | $ | 73,396,204 | $ | 16,697,527 | $ | 1,391,228,197 | $ | 56,079,628 | $ | 645,879,903 | $ | 1,097,965,991 | $ | 19,596,310 | $ | 37,824,824 | ||||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 61.56 | $ | 43.62 | $ | 48.93 | $ | 66.79 | $ | 48.47 | $ | 32.99 | $ | 47.49 | $ | 43.57 | $ | 39.19 | $ | 39.82 | ||||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 100,000 | 3,000,000 | 1,500,075 | 250,000 | 28,701,326 | 1,700,000 | 13,600,000 | 25,200,000 | 500,000 | 950,000 | ||||||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 6,026,160 | $ | 136,472,912 | $ | 82,336,436 | $ | 15,921,573 | $ | 1,323,379,157 | $ | 48,959,733 | $ | 700,460,208 | $ | 1,010,829,428 | $ | 17,892,307 | $ | 32,899,557 | ||||||||||||||||||||
Affiliated issuers | 119,181 | 14,303,613 | 13,710,018 | 2,922,779 | 217,164,394 | 7,596,748 | 38,623,284 | 61,460,230 | 606,348 | 1,885,024 | ||||||||||||||||||||||||||||||
Total cost of investments | $ | 6,145,341 | $ | 150,776,525 | $ | 96,046,454 | $ | 18,844,352 | $ | 1,540,543,551 | $ | 56,556,481 | $ | 739,083,492 | $ | 1,072,289,658 | $ | 18,498,655 | $ | 34,784,581 | ||||||||||||||||||||
Foreign currency, at cost | $ | 9,883 | $ | 129,180 | $ | 93,710 | $ | 38,797 | $ | 5,280,709 | $ | 383,209 | $ | 2,117,157 | $ | 557,460 | $ | 8,911 | $ | 38,789 | ||||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 116,204 | $ | 13,615,680 | $ | 12,766,568 | $ | 2,764,409 | $ | 208,338,258 | $ | 7,390,478 | $ | 42,769,377 | $ | 48,399,980 | $ | 570,149 | $ | 1,606,137 | ||||||||||||||||||||
See accompanying notes to financial statements.
272
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
273
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2014 (Unaudited)
SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | |||||||||||||||||||||||||
Energy | Financial | Health | Industrial | Materials | Technology | Telecommunications | Utilities | |||||||||||||||||||||||||
Sector | Sector | Care Sector | Sector | Sector | Sector | Sector | Sector | |||||||||||||||||||||||||
ETF | ETF | ETF | ETF | ETF | ETF | ETF | ETF | |||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 13,177,208 | $ | 11,053,978 | $ | 58,086,641 | $ | 26,788,687 | $ | 9,271,715 | $ | 14,260,558 | $ | 30,491,219 | $ | 63,011,712 | ||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 2,332,505 | 396,316 | 1,038,638 | 1,058,451 | 1,033,858 | 492,310 | 4,494,721 | 2,816,978 | ||||||||||||||||||||||||
Total Investments | 15,509,713 | 11,450,294 | 59,125,279 | 27,847,138 | 10,305,573 | 14,752,868 | 34,985,940 | 65,828,690 | ||||||||||||||||||||||||
Foreign currency, at value | 83,815 | 42,594 | 243,568 | 158,429 | 49,264 | 36,183 | 103,673 | 68,506 | ||||||||||||||||||||||||
Receivable for investments sold | — | — | 284,556 | — | — | — | — | — | ||||||||||||||||||||||||
Receivable for fund shares sold | — | 1,098,284 | — | — | — | — | — | 2,871,126 | ||||||||||||||||||||||||
Receivable for foreign currency contracts sold | — | — | 280,305 | — | — | — | — | — | ||||||||||||||||||||||||
Receivable for foreign taxes recoverable | 2,365 | 2,928 | 159,200 | 12,238 | 5,134 | 3,826 | 14,862 | 19,852 | ||||||||||||||||||||||||
Dividends and interest receivable — unaffiliated issuers | 18,703 | 62,217 | 168,285 | 96,149 | 39,094 | 34,885 | 75,347 | 71,376 | ||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 1 | 1 | 6 | 2 | 2 | 1 | 34 | 4 | ||||||||||||||||||||||||
TOTAL ASSETS | 15,614,597 | 12,656,318 | 60,261,199 | 28,113,956 | 10,399,067 | 14,827,763 | 35,179,856 | 68,859,554 | ||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 2,257,809 | 362,465 | 587,672 | 953,434 | 993,197 | 471,367 | 1,701,482 | 2,579,449 | ||||||||||||||||||||||||
Payable for investments purchased | — | 1,107,238 | 216,867 | — | — | — | — | 2,887,175 | ||||||||||||||||||||||||
Payable for foreign currency contracts purchased | — | — | 283,014 | — | — | — | — | — | ||||||||||||||||||||||||
Distributions payable | 61,236 | 33,655 | 427,978 | 85,750 | 39,597 | 4,281 | 2,738,233 | 181,125 | ||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 15,799 | 10,997 | 73,352 | 32,259 | 11,471 | 17,337 | 45,494 | 67,605 | ||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 8 | 3 | 42 | 3 | 7 | 6 | 16 | 25 | ||||||||||||||||||||||||
TOTAL LIABILITIES | 2,334,852 | 1,514,358 | 1,588,925 | 1,071,446 | 1,044,272 | 492,991 | 4,485,225 | 5,715,379 | ||||||||||||||||||||||||
NET ASSETS | $ | 13,279,745 | $ | 11,141,960 | $ | 58,672,274 | $ | 27,042,510 | $ | 9,354,795 | $ | 14,334,772 | $ | 30,694,631 | $ | 63,144,175 | ||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 14,720,580 | $ | 12,342,541 | $ | 47,001,439 | $ | 26,041,787 | $ | 13,652,441 | $ | 13,962,168 | $ | 30,832,325 | $ | 60,761,578 | ||||||||||||||||
Undistributed (distribution in excess of) net investment income | 6,086 | (13,821 | ) | 102,888 | 66,955 | 15,007 | 1,511 | 245,849 | (221,001 | ) | ||||||||||||||||||||||
Accumulated net realized gain (loss) on investments and foreign currency transactions | (756,329 | ) | (1,013,676 | ) | 102,745 | (538,150 | ) | (1,216,848 | ) | (380,787 | ) | (2,154,025 | ) | (2,359,858 | ) | |||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||
Investments | (690,935 | ) | (173,648 | ) | 11,460,650 | 1,471,996 | (3,096,727 | ) | 751,908 | 1,769,876 | 4,961,837 | |||||||||||||||||||||
Foreign currency | 343 | 564 | 4,552 | (78 | ) | 922 | (28 | ) | 606 | 1,619 | ||||||||||||||||||||||
NET ASSETS | $ | 13,279,745 | $ | 11,141,960 | $ | 58,672,274 | $ | 27,042,510 | $ | 9,354,795 | $ | 14,334,772 | $ | 30,694,631 | $ | 63,144,175 | ||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||
Net asset value per share | $ | 26.56 | $ | 22.28 | $ | 46.94 | $ | 31.81 | $ | 23.39 | $ | 31.86 | $ | 26.69 | $ | 19.13 | ||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 500,000 | 500,000 | 1,250,000 | 850,000 | 400,000 | 450,000 | 1,150,000 | 3,300,000 | ||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 13,868,143 | $ | 11,227,626 | $ | 46,625,991 | $ | 25,316,691 | $ | 12,368,442 | $ | 13,508,650 | $ | 28,721,343 | $ | 58,049,875 | ||||||||||||||||
Affiliated issuers | 2,332,505 | 396,316 | 1,038,638 | 1,058,451 | 1,033,858 | 492,310 | 4,494,721 | 2,816,978 | ||||||||||||||||||||||||
Total cost of investments | $ | 16,200,648 | $ | 11,623,942 | $ | 47,664,629 | $ | 26,375,142 | $ | 13,402,300 | $ | 14,000,960 | $ | 33,216,064 | $ | 60,866,853 | ||||||||||||||||
Foreign currency, at cost | $ | 83,503 | $ | 42,197 | $ | 242,539 | $ | 158,205 | $ | 48,553 | $ | 36,050 | $ | 103,531 | $ | 68,087 | ||||||||||||||||
* Includes investments in securities on loan, at value | $ | 2,314,920 | $ | 485,298 | $ | 568,114 | $ | 1,002,847 | $ | 950,023 | $ | 469,634 | $ | 1,689,211 | $ | 2,468,838 | ||||||||||||||||
See accompanying notes to financial statements.
274
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
275
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS
For the Six Months Ended March 31, 2014 (Unaudited)
SPDR S&P Emerging | ||||||||||||||||||||||||||||||||||||||||
SPDR STOXX | SPDR EURO | SPDR S&P Emerging | SPDR S&P Small Cap Emerging | SPDR S&P Emerging | Markets | SPDR S&P | SPDR S&P Emerging | |||||||||||||||||||||||||||||||||
Europe | STOXX | Asia Pacific | Asia Pacific | SPDR S&P Russia | SPDR S&P | Markets | Dividend | BRIC | Europe | |||||||||||||||||||||||||||||||
50 ETF | 50 ETF | ETF | ETF | ETF | China ETF | ETF | ETF | 40 ETF | ETF | |||||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 7,346,915 | $ | 40,406,058 | $ | 1,254,363 | $ | 17,710 | $ | 246,949 | $ | 1,178,075 | $ | 1,589,785 | $ | 6,132,419 | $ | 1,153,533 | $ | 501,188 | ||||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 119 | 685 | 334 | 12 | 45 | 283 | 555 | 177 | 138 | 45 | ||||||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 24,077 | 1,056,413 | 77,501 | 1,642 | 340 | 588,800 | 41,571 | 392,511 | 10,984 | 1,557 | ||||||||||||||||||||||||||||||
Interest income (Note 2) | — | — | 3,165 | — | — | — | 727 | 1,296 | — | — | ||||||||||||||||||||||||||||||
Foreign taxes withheld | (196,447 | ) | (3,955,261 | ) | (194,075 | ) | (983 | ) | (40,893 | ) | (11,695 | ) | (188,142 | ) | (873,714 | ) | (197,135 | ) | (92,138 | ) | ||||||||||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 7,174,664 | 37,507,895 | 1,141,288 | 18,381 | 206,441 | 1,755,463 | 1,444,496 | 5,652,689 | 967,520 | 410,652 | ||||||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 259,532 | 6,742,495 | 1,171,572 | 8,626 | 77,501 | 2,476,592 | 641,545 | 1,477,229 | 538,759 | 234,491 | ||||||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 1,132 | 35,012 | 3,822 | 22 | 307 | 8,503 | 2,106 | 5,162 | 2,286 | 743 | ||||||||||||||||||||||||||||||
Miscellaneous expenses | — | — | 452 | — | — | 3,233 | 700 | 2,060 | — | — | ||||||||||||||||||||||||||||||
TOTAL EXPENSES | 260,664 | 6,777,507 | 1,175,846 | 8,648 | 77,808 | 2,488,328 | 644,351 | 1,484,451 | 541,045 | 235,234 | ||||||||||||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 6,914,000 | 30,730,388 | (34,558 | ) | 9,733 | 128,633 | (732,865 | ) | 800,145 | 4,168,238 | 426,475 | 175,418 | ||||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | (2,503,619 | ) | 77,221,790 | 1,714,877 | 26,349 | (5,519,162 | ) | 19,898,445 | 96,497 | (37,994,247 | ) | (8,618,154 | ) | (1,613,531 | ) | |||||||||||||||||||||||||
Foreign currency transactions | 16,308 | 140,044 | 46,847 | 5,302 | 883 | 503 | (56,396 | ) | (415,091 | ) | 84 | 6,582 | ||||||||||||||||||||||||||||
Futures | — | — | — | — | — | — | 49,280 | — | — | — | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers (net of deferred foreign taxes of $0, $0, $728,270, $15,319, $0, $0, $111,837, $173,110, $0, $0, respectively) | 8,182,676 | 373,443,040 | 11,615,421 | 200,836 | 2,681,233 | (32,149,934 | ) | (1,231,602 | ) | 7,198,807 | (2,405,934 | ) | (5,410,654 | ) | ||||||||||||||||||||||||||
Foreign currency transactions | (1,567 | ) | 7,271 | (92,388 | ) | 90 | (87 | ) | (88 | ) | 17,325 | 71,441 | 27 | (6,308 | ) | |||||||||||||||||||||||||
Futures | — | — | — | — | — | — | 62,278 | — | — | — | ||||||||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FOREIGN CURRENCY TRANSACTIONS AND FUTURES | 5,693,798 | 450,812,145 | 13,284,757 | 232,577 | (2,837,133 | ) | (12,251,074 | ) | (1,062,618 | ) | (31,139,090 | ) | (11,023,977 | ) | (7,023,911 | ) | ||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 12,607,798 | $ | 481,542,533 | $ | 13,250,199 | $ | 242,310 | $ | (2,708,500 | ) | $ | (12,983,939 | ) | $ | (262,473 | ) | $ | (26,970,852 | ) | $ | (10,597,502 | ) | $ | (6,848,493 | ) | ||||||||||||||
See accompanying notes to financial statements.
276
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
SPDR S&P Emerging | ||||||||||||||||||||||||||||||||||||||||
SPDR STOXX | SPDR EURO | SPDR S&P Emerging | SPDR S&P Small Cap Emerging | SPDR S&P Emerging | Markets | SPDR S&P | SPDR S&P Emerging | |||||||||||||||||||||||||||||||||
Europe | STOXX | Asia Pacific | Asia Pacific | SPDR S&P Russia | SPDR S&P | Markets | Dividend | BRIC | Europe | |||||||||||||||||||||||||||||||
50 ETF | 50 ETF | ETF | ETF | ETF | China ETF | ETF | ETF | 40 ETF | ETF | |||||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 7,346,915 | $ | 40,406,058 | $ | 1,254,363 | $ | 17,710 | $ | 246,949 | $ | 1,178,075 | $ | 1,589,785 | $ | 6,132,419 | $ | 1,153,533 | $ | 501,188 | ||||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 119 | 685 | 334 | 12 | 45 | 283 | 555 | 177 | 138 | 45 | ||||||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 24,077 | 1,056,413 | 77,501 | 1,642 | 340 | 588,800 | 41,571 | 392,511 | 10,984 | 1,557 | ||||||||||||||||||||||||||||||
Interest income (Note 2) | — | — | 3,165 | — | — | — | 727 | 1,296 | — | — | ||||||||||||||||||||||||||||||
Foreign taxes withheld | (196,447 | ) | (3,955,261 | ) | (194,075 | ) | (983 | ) | (40,893 | ) | (11,695 | ) | (188,142 | ) | (873,714 | ) | (197,135 | ) | (92,138 | ) | ||||||||||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 7,174,664 | 37,507,895 | 1,141,288 | 18,381 | 206,441 | 1,755,463 | 1,444,496 | 5,652,689 | 967,520 | 410,652 | ||||||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 259,532 | 6,742,495 | 1,171,572 | 8,626 | 77,501 | 2,476,592 | 641,545 | 1,477,229 | 538,759 | 234,491 | ||||||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 1,132 | 35,012 | 3,822 | 22 | 307 | 8,503 | 2,106 | 5,162 | 2,286 | 743 | ||||||||||||||||||||||||||||||
Miscellaneous expenses | — | — | 452 | — | — | 3,233 | 700 | 2,060 | — | — | ||||||||||||||||||||||||||||||
TOTAL EXPENSES | 260,664 | 6,777,507 | 1,175,846 | 8,648 | 77,808 | 2,488,328 | 644,351 | 1,484,451 | 541,045 | 235,234 | ||||||||||||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 6,914,000 | 30,730,388 | (34,558 | ) | 9,733 | 128,633 | (732,865 | ) | 800,145 | 4,168,238 | 426,475 | 175,418 | ||||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | (2,503,619 | ) | 77,221,790 | 1,714,877 | 26,349 | (5,519,162 | ) | 19,898,445 | 96,497 | (37,994,247 | ) | (8,618,154 | ) | (1,613,531 | ) | |||||||||||||||||||||||||
Foreign currency transactions | 16,308 | 140,044 | 46,847 | 5,302 | 883 | 503 | (56,396 | ) | (415,091 | ) | 84 | 6,582 | ||||||||||||||||||||||||||||
Futures | — | — | — | — | — | — | 49,280 | — | — | — | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers (net of deferred foreign taxes of $0, $0, $728,270, $15,319, $0, $0, $111,837, $173,110, $0, $0, respectively) | 8,182,676 | 373,443,040 | 11,615,421 | 200,836 | 2,681,233 | (32,149,934 | ) | (1,231,602 | ) | 7,198,807 | (2,405,934 | ) | (5,410,654 | ) | ||||||||||||||||||||||||||
Foreign currency transactions | (1,567 | ) | 7,271 | (92,388 | ) | 90 | (87 | ) | (88 | ) | 17,325 | 71,441 | 27 | (6,308 | ) | |||||||||||||||||||||||||
Futures | — | — | — | — | — | — | 62,278 | — | — | — | ||||||||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FOREIGN CURRENCY TRANSACTIONS AND FUTURES | 5,693,798 | 450,812,145 | 13,284,757 | 232,577 | (2,837,133 | ) | (12,251,074 | ) | (1,062,618 | ) | (31,139,090 | ) | (11,023,977 | ) | (7,023,911 | ) | ||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 12,607,798 | $ | 481,542,533 | $ | 13,250,199 | $ | 242,310 | $ | (2,708,500 | ) | $ | (12,983,939 | ) | $ | (262,473 | ) | $ | (26,970,852 | ) | $ | (10,597,502 | ) | $ | (6,848,493 | ) | ||||||||||||||
277
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2014 (Unaudited)
SPDR S&P Emerging | SPDR S&P Global | |||||||||||||||||||||||||||||||||||||||
SPDR S&P Emerging | Middle | SPDR Dow Jones International | SPDR S&P Global | Natural | ||||||||||||||||||||||||||||||||||||
Latin America | East & Africa | SPDR S&P International | Real Estate | Infrastructure | Resources | SPDR MSCI | SPDR MSCI EM | |||||||||||||||||||||||||||||||||
ETF | ETF | SPDR S&P World ex-US ETF | Small Cap ETF | ETF | ETF | ETF | SPDR MSCI ACWI ex-US ETF | ACWI IMI ETF | 50 ETF | |||||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 862,360 | $ | 1,026,803 | $ | 14,003,565 | $ | 8,139,573 | $ | 67,208,727 | $ | 1,175,579 | $ | 5,689,674 | $ | 9,157,587 | $ | 128,297 | $ | 14,145 | ||||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 47 | 37 | 272 | 996 | 2,150 | 35 | 327 | 226 | 24 | 1 | ||||||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 15,112 | 18,416 | 184,016 | 352,334 | 428,150 | 19,502 | 64,940 | 108,850 | 2,174 | 395 | ||||||||||||||||||||||||||||||
Interest income (Note 2) | — | — | 687 | 1,370 | — | — | 165 | 764 | — | — | ||||||||||||||||||||||||||||||
Foreign taxes withheld | (86,918 | ) | (135,614 | ) | (722,984 | ) | (752,146 | ) | (5,891,098 | ) | (68,234 | ) | (308,441 | ) | (501,013 | ) | (4,498 | ) | (2,404 | ) | ||||||||||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 790,601 | 909,642 | 13,465,556 | 7,742,127 | 61,747,929 | 1,126,882 | 5,446,665 | 8,766,414 | 125,997 | 12,137 | ||||||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 170,753 | 190,183 | 1,363,793 | 2,478,102 | 12,276,281 | 148,223 | 919,351 | 864,392 | 11,881 | 8,459 | ||||||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 630 | 655 | 6,906 | 7,844 | 39,183 | 647 | 4,024 | 4,769 | 59 | 23 | ||||||||||||||||||||||||||||||
Miscellaneous expenses | — | — | 577 | 95 | — | 48 | — | 135 | — | — | ||||||||||||||||||||||||||||||
TOTAL EXPENSES | 171,383 | 190,838 | 1,371,276 | 2,486,041 | 12,315,464 | 148,918 | 923,375 | 869,296 | 11,940 | 8,482 | ||||||||||||||||||||||||||||||
NET INVESTMENT INCOME | 619,218 | 718,804 | 12,094,280 | 5,256,086 | 49,432,465 | 977,964 | 4,523,290 | 7,897,118 | 114,057 | 3,655 | ||||||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | (4,386,542 | ) | (366,792 | ) | 15,637,730 | 49,083,923 | 12,203,220 | (911,250 | ) | (3,345,926 | ) | 2,886,191 | (4,317 | ) | (978 | ) | ||||||||||||||||||||||||
Foreign currency transactions | (10,388 | ) | (1,206 | ) | 30,199 | (70,419 | ) | (92,111 | ) | (50 | ) | 42,823 | (3,882 | ) | (1,094 | ) | (825 | ) | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers (net of deferred foreign taxes of $0, $0, $0, $0, $267,983, $0, $0, $40,066, $0, $0, respectively) | 1,834,743 | 3,805,673 | 15,367,445 | (3,108,052 | ) | (35,963,567 | ) | 8,497,928 | 19,421,345 | 15,808,586 | 643,793 | 52,499 | ||||||||||||||||||||||||||||
Foreign currency transactions | 5,940 | (5,241 | ) | (100,827 | ) | (209,063 | ) | (99,522 | ) | 466 | (14,312 | ) | (11,250 | ) | 267 | 11 | ||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | (2,556,247 | ) | 3,432,434 | 30,934,547 | 45,696,389 | (23,951,980 | ) | 7,587,094 | 16,103,930 | 18,679,645 | 638,649 | 50,707 | ||||||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | (1,937,029 | ) | $ | 4,151,238 | $ | 43,028,827 | $ | 50,952,475 | $ | 25,480,485 | $ | 8,565,058 | $ | 20,627,220 | $ | 26,576,763 | $ | 752,706 | $ | 54,362 | |||||||||||||||||||
See accompanying notes to financial statements.
278
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
279
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2014 (Unaudited)
SPDR S&P International | SPDR S&P International | |||||||||||||||||||||||||||||||||||||||
Consumer | Consumer | |||||||||||||||||||||||||||||||||||||||
SPDR S&P Global | SPDR S&P International | SPDR S&P Emerging | SPDR Dow Jones Global | Discretionary | Staples | |||||||||||||||||||||||||||||||||||
SPDR MSCI EM Beyond | SPDR Russell/Nomura | SPDR Russell/Nomura | Dividend | Dividend | SPDR S&P | Markets | Real Estate | Sector | Sector | |||||||||||||||||||||||||||||||
BRIC ETF (1) | PRIME Japan ETF | Small Cap Japan ETF | ETF | ETF | International Mid Cap ETF | Small Cap ETF | ETF | ETF | ETF | |||||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 36,230 | $ | 1,412,258 | $ | 785,900 | $ | 225,952 | $ | 26,592,916 | $ | 501,731 | $ | 5,381,408 | $ | 18,889,783 | $ | 187,110 | $ | 442,327 | ||||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 18 | 39 | 42 | 5 | 519 | 49 | 648 | 645 | 14 | 17 | ||||||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 36 | 13,339 | 51,116 | 7,461 | 1,128,040 | 16,164 | 522,970 | 92,515 | 3,418 | 3,758 | ||||||||||||||||||||||||||||||
Interest income (Note 2) | — | — | — | — | 407 | 8 | 591 | 810 | — | — | ||||||||||||||||||||||||||||||
Foreign taxes withheld | (4,049 | ) | (140,365 | ) | (78,163 | ) | (17,697 | ) | (2,794,015 | ) | (46,053 | ) | (385,249 | ) | (685,918 | ) | (16,012 | ) | (19,074 | ) | ||||||||||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 32,235 | 1,285,271 | 758,895 | 215,721 | 24,927,867 | 471,899 | 5,520,368 | 18,297,835 | 174,530 | 427,028 | ||||||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 13,120 | 325,645 | 235,794 | 23,225 | 3,005,605 | 117,435 | 2,288,871 | 2,565,207 | 56,034 | 92,634 | ||||||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 27 | 1,195 | 922 | 71 | 13,010 | 463 | 7,460 | 9,905 | 195 | 365 | ||||||||||||||||||||||||||||||
Miscellaneous expenses | — | — | 43 | — | 1,921 | 181 | 312 | 117 | — | — | ||||||||||||||||||||||||||||||
TOTAL EXPENSES | 13,147 | 326,840 | 236,759 | 23,296 | 3,020,536 | 118,079 | 2,296,643 | 2,575,229 | 56,229 | 92,999 | ||||||||||||||||||||||||||||||
NET INVESTMENT INCOME | 19,088 | 958,431 | 522,136 | 192,425 | 21,907,331 | 353,820 | 3,223,725 | 15,722,606 | 118,301 | 334,029 | ||||||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | 55,112 | 1,264,049 | 2,984,062 | 319,230 | 31,433,793 | 159,131 | (26,903,545 | ) | 13,845,396 | 1,703,165 | (21,230 | ) | ||||||||||||||||||||||||||||
Foreign currency transactions | (4,782 | ) | (36,686 | ) | (34,421 | ) | (349 | ) | (10,200 | ) | 1,571 | 351,915 | (19,539 | ) | (166 | ) | 3,308 | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers (net of deferred foreign taxes of $0, $0, $0, $0, $84,869, $0, $590,900, $29,914, $0, $0, respectively) | 113,015 | (6,380,934 | ) | (6,017,072 | ) | 408,075 | 23,217,492 | 3,166,922 | 51,657,713 | 17,541,657 | (1,058,772 | ) | 852,957 | |||||||||||||||||||||||||||
Foreign currency transactions | 71 | (16,984 | ) | (9,949 | ) | 390 | 45,952 | 786 | 29,583 | (2,881 | ) | (1,224 | ) | (938 | ) | |||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | 163,416 | (5,170,555 | ) | (3,077,380 | ) | 727,346 | 54,687,037 | 3,328,410 | 25,135,666 | 31,364,633 | 643,003 | 834,097 | ||||||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 182,504 | $ | (4,212,124 | ) | $ | (2,555,244 | ) | $ | 919,771 | $ | 76,594,368 | $ | 3,682,230 | $ | 28,359,391 | $ | 47,087,239 | $ | 761,304 | $ | 1,168,126 | ||||||||||||||||||
(1) | For the period December 4, 2013 (commencement of operations) to March 31, 2014. |
See accompanying notes to financial statements.
280
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
281
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2014 (Unaudited)
SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | SPDR S&P International | |||||||||||||||||||||||||
Energy | Financial | Health | Industrial | Materials | Technology | Telecommunications | Utilities | |||||||||||||||||||||||||
Sector | Sector | Care Sector | Sector | Sector | Sector | Sector | Sector | |||||||||||||||||||||||||
ETF | ETF | ETF | ETF | ETF | ETF | ETF | ETF | |||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 209,380 | $ | 132,001 | $ | 883,945 | $ | 275,787 | $ | 83,400 | $ | 70,902 | $ | 3,436,375 | $ | 710,723 | ||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 7 | 3 | 10 | 21 | 6 | 6 | 43 | 18 | ||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 4,464 | 2,369 | 5,272 | 4,857 | 993 | 1,570 | 5,489 | 16,136 | ||||||||||||||||||||||||
Foreign taxes withheld | (15,087 | ) | (8,939 | ) | (92,946 | ) | (24,068 | ) | (4,438 | ) | (7,294 | ) | (34,559 | ) | (59,849 | ) | ||||||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 198,764 | 125,434 | 796,281 | 256,597 | 79,961 | 65,184 | 3,407,348 | 667,028 | ||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 31,801 | 20,247 | 149,797 | 56,538 | 23,187 | 33,179 | 89,576 | 127,780 | ||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 122 | 68 | 602 | 151 | 89 | 114 | 331 | 384 | ||||||||||||||||||||||||
TOTAL EXPENSES | 31,923 | 20,315 | 150,399 | 56,689 | 23,276 | 33,293 | 89,907 | 128,164 | ||||||||||||||||||||||||
NET INVESTMENT INCOME | 166,841 | 105,119 | 645,882 | 199,908 | 56,685 | 31,891 | 3,317,441 | 538,864 | ||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||
Investments | (99,844 | ) | 4,495 | 3,146,115 | (135,621 | ) | (580,524 | ) | 33,340 | 1,244,395 | (1,081,859 | ) | ||||||||||||||||||||
Foreign currency transactions | (1,055 | ) | (1,198 | ) | 7,278 | (2,744 | ) | (1,882 | ) | (306 | ) | 6,215 | 4,046 | |||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||
Investments | 862,616 | 310,423 | 3,868,022 | 1,129,391 | 684,833 | 844,056 | (1,739,661 | ) | 5,247,724 | |||||||||||||||||||||||
Foreign currency transactions | 231 | (789 | ) | (2,183 | ) | (517 | ) | (55 | ) | (691 | ) | (2,773 | ) | (1,044 | ) | |||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | 761,948 | 312,931 | 7,019,232 | 990,509 | 102,372 | 876,399 | (491,824 | ) | 4,168,867 | |||||||||||||||||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | 928,789 | $ | 418,050 | $ | 7,665,114 | $ | 1,190,417 | $ | 159,057 | $ | 908,290 | $ | 2,825,617 | $ | 4,707,731 | ||||||||||||||||
See accompanying notes to financial statements.
282
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
283
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR STOXX Europe 50 ETF | SPDR EURO STOXX 50 ETF | SPDR S&P Emerging Asia Pacific ETF | SPDR S&P Small Cap Emerging Asia Pacific ETF | SPDR S&P Russia ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 6,914,000 | $ | 2,065,194 | $ | 30,730,388 | $ | 66,149,755 | $ | (34,558 | ) | $ | 9,202,331 | $ | 9,733 | $ | 44,677 | $ | 128,633 | $ | 891,023 | |||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | (2,487,311 | ) | (3,104,716 | ) | 77,361,834 | (30,134,141 | ) | 1,761,724 | 3,609,244 | 31,651 | 136,349 | (5,518,279 | ) | (1,344,590 | ) | |||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 8,181,109 | 12,036,292 | 373,450,311 | 444,839,498 | 11,523,033 | 7,175,933 | 200,926 | 2,458 | 2,681,146 | 77,537 | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 12,607,798 | 10,996,770 | 481,542,533 | 480,855,112 | 13,250,199 | 19,987,508 | 242,310 | 183,484 | (2,708,500 | ) | (376,030 | ) | ||||||||||||||||||||||||||||
Net equalization credits and charges (Note 2) | 263,319 | 223,606 | 3,510,115 | 7,095,433 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (7,143,208 | ) | (2,238,311 | ) | (33,836,899 | ) | (70,388,040 | ) | (4,274,365 | ) | (9,689,381 | ) | (80,566 | ) | (82,790 | ) | (273,182 | ) | (1,635,671 | ) | ||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | (134,560 | ) | (159,902 | ) | — | — | ||||||||||||||||||||||||||||
Total distributions to shareholders | (7,143,208 | ) | (2,238,311 | ) | (33,836,899 | ) | (70,388,040 | ) | (4,274,365 | ) | (9,689,381 | ) | (215,126 | ) | (242,692 | ) | (273,182 | ) | (1,635,671 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 114,504,535 | 62,852,261 | 1,727,445,480 | 1,969,784,076 | 30,022,016 | 136,076,085 | 2,000,595 | — | 13,403,035 | 8,112,863 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | — | — | (220,742,358 | ) | (88,807,992 | ) | (22,458,451 | ) | (136,683,349 | ) | — | — | (20,645,800 | ) | (14,799,855 | ) | ||||||||||||||||||||||||
Net income equalization (Note 2) | (263,319 | ) | (223,606 | ) | (3,510,115 | ) | (7,095,433 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 114,241,216 | 62,628,655 | 1,503,193,007 | 1,873,880,651 | 7,563,565 | (607,264 | ) | 2,000,595 | — | (7,242,765 | ) | (6,686,992 | ) | |||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 119,969,125 | 71,610,720 | 1,954,408,756 | 2,291,443,156 | 16,539,399 | 9,690,863 | 2,027,779 | (59,208 | ) | (10,224,447 | ) | (8,698,693 | ) | |||||||||||||||||||||||||||
Net assets at beginning of period | 109,419,370 | 37,808,650 | 3,285,262,734 | 993,819,578 | 399,460,170 | 389,769,307 | 2,161,998 | 2,221,206 | 31,263,979 | 39,962,672 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 229,388,495 | $ | 109,419,370 | $ | 5,239,671,490 | $ | 3,285,262,734 | $ | 415,999,569 | $ | 399,460,170 | $ | 4,189,777 | $ | 2,161,998 | $ | 21,039,532 | $ | 31,263,979 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 3,000,000 | 1,800,000 | 42,600,000 | 56,150,000 | 400,000 | 1,800,000 | 50,000 | — | 550,000 | 300,000 | ||||||||||||||||||||||||||||||
Shares redeemed | — | — | (5,400,000 | ) | (2,550,000 | ) | (300,000 | ) | (1,800,000 | ) | — | — | (800,000 | ) | (550,000 | ) | ||||||||||||||||||||||||
Net increase (decrease) | 3,000,000 | 1,800,000 | 37,200,000 | 53,600,000 | 100,000 | — | 50,000 | — | (250,000 | ) | (250,000 | ) | ||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (336,421 | ) | $ | (107,213 | ) | $ | (10,357,469 | ) | $ | (7,250,958 | ) | $ | (732,001 | ) | $ | 3,576,922 | $ | (30,264 | ) | $ | 40,569 | $ | 32,406 | $ | 176,955 | ||||||||||||||
See accompanying notes to financial statements.
284
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
285
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P China ETF | SPDR S&P Emerging Markets ETF | SPDR S&P Emerging Markets Dividend ETF | SPDR S&P BRIC 40 ETF | SPDR S&P Emerging Europe ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | (732,865 | ) | $ | 22,727,557 | $ | 800,145 | $ | 4,195,721 | $ | 4,168,238 | $ | 25,849,239 | $ | 426,475 | $ | 6,782,458 | $ | 175,418 | $ | 2,078,172 | |||||||||||||||||||
Net realized gain (loss) on investments, foreign currency transactions and futures | 19,898,948 | 18,816,625 | 89,381 | 3,401,931 | (38,409,338 | ) | (36,129,078 | ) | (8,618,070 | ) | (1,311,787 | ) | (1,606,949 | ) | (2,334,901 | ) | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments, foreign currency transactions and futures | (32,150,022 | ) | 68,099,951 | (1,151,999 | ) | (7,859,196 | ) | 7,270,248 | (20,200,185 | ) | (2,405,907 | ) | 4,799,748 | (5,416,962 | ) | 744,377 | ||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (12,983,939 | ) | 109,644,133 | (262,473 | ) | (261,544 | ) | (26,970,852 | ) | (30,480,024 | ) | (10,597,502 | ) | 10,270,419 | (6,848,493 | ) | 487,648 | |||||||||||||||||||||||
Net equalization credits and charges (Note 2) | — | — | — | — | 81,051 | 915,330 | — | — | — | — | ||||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (5,642,119 | ) | (22,082,234 | ) | (1,742,271 | ) | (4,153,364 | ) | (3,063,052 | ) | (25,279,698 | ) | (1,318,858 | ) | (8,143,671 | ) | (611,785 | ) | (3,277,881 | ) | ||||||||||||||||||||
Total distributions to shareholders | (5,642,119 | ) | (22,082,234 | ) | (1,742,271 | ) | (4,153,364 | ) | (3,063,052 | ) | (25,279,698 | ) | (1,318,858 | ) | (8,143,671 | ) | (611,785 | ) | (3,277,881 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 97,050,653 | 388,373,083 | 45,665,643 | 110,762,999 | 11,621,383 | 310,124,018 | 7,144,434 | 28,801,793 | 12,022,701 | 17,309,678 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (200,601,610 | ) | (337,502,530 | ) | (36,158,776 | ) | (82,959,082 | ) | (48,575,340 | ) | (17,752,518 | ) | (84,690,441 | ) | (79,812,083 | ) | (3,619,437 | ) | (24,673,060 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | — | — | — | — | (81,051 | ) | (915,330 | ) | — | — | — | — | ||||||||||||||||||||||||||||
Other capital (Note 4) | — | 4,199 | — | — | 92,101 | 523,932 | — | — | — | — | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (103,550,957 | ) | 50,874,752 | 9,506,867 | 27,803,917 | (36,942,907 | ) | 291,980,102 | (77,546,007 | ) | (51,010,290 | ) | 8,403,264 | (7,363,382 | ) | |||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | (122,177,015 | ) | 138,436,651 | 7,502,123 | 23,389,009 | (66,895,760 | ) | 237,135,710 | (89,462,367 | ) | (48,883,542 | ) | 942,986 | (10,153,615 | ) | |||||||||||||||||||||||||
Net assets at beginning of period | 897,622,611 | 759,185,960 | 189,411,510 | 166,022,501 | 538,651,170 | 301,515,460 | 247,440,681 | 296,324,223 | 76,485,438 | 86,639,053 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 775,445,596 | $ | 897,622,611 | $ | 196,913,633 | $ | 189,411,510 | $ | 471,755,410 | $ | 538,651,170 | $ | 157,978,314 | $ | 247,440,681 | $ | 77,428,424 | $ | 76,485,438 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 1,300,000 | 5,400,000 | 700,000 | 1,700,000 | 300,000 | 6,900,000 | 300,000 | 1,200,000 | 300,000 | 400,000 | ||||||||||||||||||||||||||||||
Shares redeemed | (2,700,000 | ) | (4,900,000 | ) | (600,000 | ) | (1,300,000 | ) | (1,300,000 | ) | (450,000 | ) | (3,800,000 | ) | (3,500,000 | ) | (100,000 | ) | (600,000 | ) | ||||||||||||||||||||
Net increase (decrease) | (1,400,000 | ) | 500,000 | 100,000 | 400,000 | (1,000,000 | ) | 6,450,000 | (3,500,000 | ) | (2,300,000 | ) | 200,000 | (200,000 | ) | |||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (1,075,478 | ) | $ | 5,299,506 | $ | 347,080 | $ | 1,289,206 | $ | (537,293 | ) | $ | (1,642,479 | ) | $ | 209,811 | $ | 1,102,194 | $ | 15,644 | $ | 452,011 | |||||||||||||||||
See accompanying notes to financial statements.
286
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
SPDR S&P China ETF | SPDR S&P Emerging Markets ETF | SPDR S&P Emerging Markets Dividend ETF | SPDR S&P BRIC 40 ETF | SPDR S&P Emerging Europe ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | (732,865 | ) | $ | 22,727,557 | $ | 800,145 | $ | 4,195,721 | $ | 4,168,238 | $ | 25,849,239 | $ | 426,475 | $ | 6,782,458 | $ | 175,418 | $ | 2,078,172 | |||||||||||||||||||
Net realized gain (loss) on investments, foreign currency transactions and futures | 19,898,948 | 18,816,625 | 89,381 | 3,401,931 | (38,409,338 | ) | (36,129,078 | ) | (8,618,070 | ) | (1,311,787 | ) | (1,606,949 | ) | (2,334,901 | ) | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments, foreign currency transactions and futures | (32,150,022 | ) | 68,099,951 | (1,151,999 | ) | (7,859,196 | ) | 7,270,248 | (20,200,185 | ) | (2,405,907 | ) | 4,799,748 | (5,416,962 | ) | 744,377 | ||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (12,983,939 | ) | 109,644,133 | (262,473 | ) | (261,544 | ) | (26,970,852 | ) | (30,480,024 | ) | (10,597,502 | ) | 10,270,419 | (6,848,493 | ) | 487,648 | |||||||||||||||||||||||
Net equalization credits and charges (Note 2) | — | — | — | — | 81,051 | 915,330 | — | — | — | — | ||||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (5,642,119 | ) | (22,082,234 | ) | (1,742,271 | ) | (4,153,364 | ) | (3,063,052 | ) | (25,279,698 | ) | (1,318,858 | ) | (8,143,671 | ) | (611,785 | ) | (3,277,881 | ) | ||||||||||||||||||||
Total distributions to shareholders | (5,642,119 | ) | (22,082,234 | ) | (1,742,271 | ) | (4,153,364 | ) | (3,063,052 | ) | (25,279,698 | ) | (1,318,858 | ) | (8,143,671 | ) | (611,785 | ) | (3,277,881 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 97,050,653 | 388,373,083 | 45,665,643 | 110,762,999 | 11,621,383 | 310,124,018 | 7,144,434 | 28,801,793 | 12,022,701 | 17,309,678 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (200,601,610 | ) | (337,502,530 | ) | (36,158,776 | ) | (82,959,082 | ) | (48,575,340 | ) | (17,752,518 | ) | (84,690,441 | ) | (79,812,083 | ) | (3,619,437 | ) | (24,673,060 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | — | — | — | — | (81,051 | ) | (915,330 | ) | — | — | — | — | ||||||||||||||||||||||||||||
Other capital (Note 4) | — | 4,199 | — | — | 92,101 | 523,932 | — | — | — | — | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (103,550,957 | ) | 50,874,752 | 9,506,867 | 27,803,917 | (36,942,907 | ) | 291,980,102 | (77,546,007 | ) | (51,010,290 | ) | 8,403,264 | (7,363,382 | ) | |||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | (122,177,015 | ) | 138,436,651 | 7,502,123 | 23,389,009 | (66,895,760 | ) | 237,135,710 | (89,462,367 | ) | (48,883,542 | ) | 942,986 | (10,153,615 | ) | |||||||||||||||||||||||||
Net assets at beginning of period | 897,622,611 | 759,185,960 | 189,411,510 | 166,022,501 | 538,651,170 | 301,515,460 | 247,440,681 | 296,324,223 | 76,485,438 | 86,639,053 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 775,445,596 | $ | 897,622,611 | $ | 196,913,633 | $ | 189,411,510 | $ | 471,755,410 | $ | 538,651,170 | $ | 157,978,314 | $ | 247,440,681 | $ | 77,428,424 | $ | 76,485,438 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 1,300,000 | 5,400,000 | 700,000 | 1,700,000 | 300,000 | 6,900,000 | 300,000 | 1,200,000 | 300,000 | 400,000 | ||||||||||||||||||||||||||||||
Shares redeemed | (2,700,000 | ) | (4,900,000 | ) | (600,000 | ) | (1,300,000 | ) | (1,300,000 | ) | (450,000 | ) | (3,800,000 | ) | (3,500,000 | ) | (100,000 | ) | (600,000 | ) | ||||||||||||||||||||
Net increase (decrease) | (1,400,000 | ) | 500,000 | 100,000 | 400,000 | (1,000,000 | ) | 6,450,000 | (3,500,000 | ) | (2,300,000 | ) | 200,000 | (200,000 | ) | |||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (1,075,478 | ) | $ | 5,299,506 | $ | 347,080 | $ | 1,289,206 | $ | (537,293 | ) | $ | (1,642,479 | ) | $ | 209,811 | $ | 1,102,194 | $ | 15,644 | $ | 452,011 | |||||||||||||||||
287
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P World | ||||||||||||||||||||||||||||||||||||||||
SPDR S&P Emerging Latin America ETF | SPDR S&P Emerging Middle East & Africa ETF | ex-US ETF | SPDR S&P International Small Cap ETF | SPDR Dow Jones International Real Estate ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 619,218 | $ | 2,339,805 | $ | 718,804 | $ | 1,770,721 | $ | 12,094,280 | $ | 15,349,823 | $ | 5,256,086 | $ | 16,269,854 | $ | 49,432,465 | $ | 114,781,571 | ||||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | (4,396,930 | ) | (8,592,846 | ) | (367,998 | ) | (125,742 | ) | 15,667,929 | 893,089 | 49,013,504 | 1,499,253 | 12,111,109 | (30,255,937 | ) | |||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 1,840,683 | (1,962,558 | ) | 3,800,432 | (3,940,186 | ) | 15,266,618 | 83,415,887 | (3,317,115 | ) | 131,358,676 | (36,063,089 | ) | 356,953,647 | ||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (1,937,029 | ) | (8,215,599 | ) | 4,151,238 | (2,295,207 | ) | 43,028,827 | 99,658,799 | 50,952,475 | 149,127,783 | 25,480,485 | 441,479,281 | |||||||||||||||||||||||||||
Net equalization credits and charges (Note 2) | — | — | — | — | — | — | — | — | (375,326 | ) | 1,545,942 | |||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (695,435 | ) | (2,132,567 | ) | (1,329,913 | ) | (1,967,723 | ) | (7,614,476 | ) | (14,411,748 | ) | (20,682,900 | ) | (17,144,709 | ) | (113,742,757 | ) | (229,349,200 | ) | ||||||||||||||||||||
Total distributions to shareholders | (695,435 | ) | (2,132,567 | ) | (1,329,913 | ) | (1,967,723 | ) | (7,614,476 | ) | (14,411,748 | ) | (20,682,900 | ) | (17,144,709 | ) | (113,742,757 | ) | (229,349,200 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | — | 15,218,912 | — | — | 207,812,677 | 197,451,754 | 36,368,785 | 74,024,552 | 320,085,832 | 836,455,196 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (12,710,781 | ) | (48,350,490 | ) | (6,598,281 | ) | (20,188,372 | ) | (33,034,102 | ) | (5,225,766 | ) | (3,378,508 | ) | (71,216,675 | ) | (51,857,284 | ) | (139,344,175 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | — | — | — | — | — | — | — | — | 375,326 | (1,545,942 | ) | |||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (12,710,781 | ) | (33,131,578 | ) | (6,598,281 | ) | (20,188,372 | ) | 174,778,575 | 192,225,988 | 32,990,277 | 2,807,877 | 268,603,874 | 695,565,079 | ||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | (15,343,245 | ) | (43,479,744 | ) | (3,776,956 | ) | (24,451,302 | ) | 210,192,926 | 277,473,039 | 63,259,852 | 134,790,951 | 179,966,276 | 909,241,102 | ||||||||||||||||||||||||||
Net assets at beginning of period | 70,575,035 | 114,054,779 | 67,534,766 | 91,986,068 | 688,755,349 | 411,282,310 | 813,871,210 | 679,080,259 | 4,045,899,054 | 3,136,657,952 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 55,231,790 | $ | 70,575,035 | $ | 63,757,810 | $ | 67,534,766 | $ | 898,948,275 | $ | 688,755,349 | $ | 877,131,062 | $ | 813,871,210 | $ | 4,225,865,330 | $ | 4,045,899,054 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | — | 200,000 | — | — | 7,200,000 | 7,600,000 | 1,100,000 | 2,500,000 | 7,700,000 | 19,900,000 | ||||||||||||||||||||||||||||||
Shares redeemed | (200,000 | ) | (700,000 | ) | (100,000 | ) | (300,000 | ) | (1,200,000 | ) | (200,000 | ) | (100,000 | ) | (2,400,000 | ) | (1,300,000 | ) | (3,400,000 | ) | ||||||||||||||||||||
Net increase (decrease) | (200,000 | ) | (500,000 | ) | (100,000 | ) | (300,000 | ) | 6,000,000 | 7,400,000 | 1,000,000 | 100,000 | 6,400,000 | 16,500,000 | ||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 111,465 | $ | 187,682 | $ | (1,320 | ) | $ | 609,789 | $ | 7,953,788 | $ | 3,473,984 | $ | (8,024,469 | ) | $ | 7,402,345 | $ | (198,727,287 | ) | $ | (134,416,995 | ) | ||||||||||||||||
See accompanying notes to financial statements.
288
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
289
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR MSCI ACWI | ||||||||||||||||||||||||||||||||||||||||
SPDR S&P Global Infrastructure ETF | SPDR S&P Global Natural Resources ETF | ex-US ETF | SPDR MSCI ACWI IMI ETF | SPDR MSCI EM 50 ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 977,964 | $ | 2,934,040 | $ | 4,523,290 | $ | 12,286,558 | $ | 7,897,118 | $ | 11,548,310 | $ | 114,057 | $ | 129,583 | $ | 3,655 | $ | 48,863 | ||||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | (911,300 | ) | (4,441,135 | ) | (3,303,103 | ) | (24,439,105 | ) | 2,882,309 | 2,319,544 | (5,411 | ) | 7,748 | (1,803 | ) | (157,887 | ) | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 8,498,394 | 9,028,871 | 19,407,033 | (8,661,313 | ) | 15,797,336 | 49,130,646 | 644,060 | 807,958 | 52,510 | 188,934 | |||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 8,565,058 | 7,521,776 | 20,627,220 | (20,813,860 | ) | 26,576,763 | 62,998,500 | 752,706 | 945,289 | 54,362 | 79,910 | |||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (1,259,722 | ) | (2,633,933 | ) | (4,544,496 | ) | (11,695,276 | ) | (5,893,062 | ) | (12,088,605 | ) | (62,837 | ) | (127,566 | ) | (19,176 | ) | (73,259 | ) | ||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | (8,630 | ) | (1,624 | ) | — | — | ||||||||||||||||||||||||||||
Total distributions to shareholders | (1,259,722 | ) | (2,633,933 | ) | (4,544,496 | ) | (11,695,276 | ) | (5,893,062 | ) | (12,088,605 | ) | (71,467 | ) | (129,190 | ) | (19,176 | ) | (73,259 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 35,928,292 | 36,254,564 | 114,987,256 | 267,091,861 | 49,093,080 | 103,437,802 | 6,082,111 | — | 2,311,108 | — | ||||||||||||||||||||||||||||||
Cost of shares redeemed | — | (25,303,251 | ) | (9,727,076 | ) | (241,671,614 | ) | (13,946,423 | ) | (44,741,128 | ) | — | — | — | (2,381,988 | ) | ||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 35,928,292 | 10,951,313 | 105,260,180 | 25,420,247 | 35,146,657 | 58,696,674 | 6,082,111 | — | 2,311,108 | (2,381,988 | ) | |||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 43,233,628 | 15,839,156 | 121,342,904 | (7,088,889 | ) | 55,830,358 | 109,606,569 | 6,763,350 | 816,099 | 2,346,294 | (2,375,337 | ) | ||||||||||||||||||||||||||||
Net assets at beginning of period | 52,216,720 | 36,377,564 | 407,762,883 | 414,851,772 | 493,824,345 | 384,217,776 | 5,820,332 | 5,004,233 | 2,355,207 | 4,730,544 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 95,450,348 | $ | 52,216,720 | $ | 529,105,787 | $ | 407,762,883 | $ | 549,654,703 | $ | 493,824,345 | $ | 12,583,682 | $ | 5,820,332 | $ | 4,701,501 | $ | 2,355,207 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 800,000 | 900,000 | 2,350,000 | 5,300,000 | 1,400,000 | 3,200,000 | 100,000 | — | 50,000 | — | ||||||||||||||||||||||||||||||
Shares redeemed | — | (600,000 | ) | (200,000 | ) | (5,050,000 | ) | (400,000 | ) | (1,400,000 | ) | — | — | — | (50,000 | ) | ||||||||||||||||||||||||
Net increase (decrease) | 800,000 | 300,000 | 2,150,000 | 250,000 | 1,000,000 | 1,800,000 | 100,000 | — | 50,000 | (50,000 | ) | |||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 426,945 | $ | 708,703 | $ | 2,866,286 | $ | 2,887,492 | $ | 4,788,643 | $ | 2,784,587 | $ | 82,287 | $ | 31,067 | $ | (3,635 | ) | $ | 11,886 | |||||||||||||||||||
See accompanying notes to financial statements.
290
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
291
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR MSCI EM Beyond BRIC ETF | SPDR Russell/Nomura PRIME Japan ETF | SPDR Russell/Nomura Small Cap Japan ETF | SPDR S&P Global Dividend ETF | SPDR S&P International Dividend ETF | ||||||||||||||||||||||||||||||||
For the Period | Six Months Ended | Six Months Ended | Six Months Ended | For the Period | Six Months Ended | |||||||||||||||||||||||||||||||
12/5/13*- | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | 5/29/13*- | 3/31/14 | Year Ended | ||||||||||||||||||||||||||||
3/31/14 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | ||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 19,088 | $ | 958,431 | $ | 867,579 | $ | 522,136 | $ | 1,043,072 | $ | 192,425 | $ | 75,772 | $ | 21,907,331 | $ | 86,637,668 | ||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | 50,330 | 1,227,363 | 1,549,010 | 2,949,641 | (215,566 | ) | 318,881 | 26,573 | 31,423,593 | (46,935,898 | ) | |||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 113,086 | (6,397,918 | ) | 3,253,088 | (6,027,021 | ) | 15,230,408 | 408,465 | 275,735 | 23,263,444 | 63,058,089 | |||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 182,504 | (4,212,124 | ) | 5,669,677 | (2,555,244 | ) | 16,057,914 | 919,771 | 378,080 | 76,594,368 | 102,759,859 | |||||||||||||||||||||||||
Net equalization credits and charges (Note 2) | (3,407 | ) | — | — | — | — | (12,918 | ) | 1,376 | 285,320 | (6,819 | ) | ||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||
Net investment income | (9,700 | ) | (1,087,324 | ) | (236,411 | ) | (1,763,577 | ) | (1,106,374 | ) | (189,565 | ) | (62,806 | ) | (25,680,481 | ) | (85,860,472 | ) | ||||||||||||||||||
Total distributions to shareholders | (9,700 | ) | (1,087,324 | ) | (236,411 | ) | (1,763,577 | ) | (1,106,374 | ) | (189,565 | ) | (62,806 | ) | (25,680,481 | ) | (85,860,472 | ) | ||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 8,954,559 | 18,324,183 | 115,432,782 | — | 31,587,380 | 6,468,360 | 9,183,687 | 90,970,075 | 426,274,114 | |||||||||||||||||||||||||||
Cost of shares redeemed | (2,971,270 | ) | (9,067,947 | ) | (8,181,550 | ) | (19,891,368 | ) | (13,495,806 | ) | — | — | (55,481,761 | ) | (138,869,357 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | 3,407 | — | — | — | — | 12,918 | (1,376 | ) | (285,320 | ) | 6,819 | |||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 5,986,696 | 9,256,236 | 107,251,232 | (19,891,368 | ) | 18,091,574 | 6,481,278 | 9,182,311 | 35,202,994 | 287,411,576 | ||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 6,156,093 | 3,956,788 | 112,684,498 | (24,210,189 | ) | 33,043,114 | 7,198,566 | 9,498,961 | 86,402,201 | 304,304,144 | ||||||||||||||||||||||||||
Net assets at beginning of period | — | 126,911,109 | 14,226,611 | 97,606,393 | 64,563,279 | 9,498,961 | — | 1,304,825,996 | 1,000,521,852 | |||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 6,156,093 | $ | 130,867,897 | $ | 126,911,109 | $ | 73,396,204 | $ | 97,606,393 | $ | 16,697,527 | $ | 9,498,961 | $ | 1,391,228,197 | $ | 1,304,825,996 | ||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||
Shares sold | 150,000 | 400,000 | 2,600,000 | — | 650,000 | 100,000 | 150,000 | 1,900,000 | 8,900,000 | |||||||||||||||||||||||||||
Shares redeemed | (50,000 | ) | (200,000 | ) | (200,000 | ) | (400,000 | ) | (300,000 | ) | — | — | (1,200,000 | ) | (3,000,000 | ) | ||||||||||||||||||||
Net increase (decrease) | 100,000 | 200,000 | 2,400,000 | (400,000 | ) | 350,000 | 100,000 | 150,000 | 700,000 | 5,900,000 | ||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 9,388 | $ | 661,236 | $ | 790,129 | $ | (667,959 | ) | $ | 573,482 | $ | 16,086 | $ | 13,226 | $ | 173,040 | $ | 3,946,190 | |||||||||||||||||
* | Commencement of operations. |
See accompanying notes to financial statements.
292
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
293
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P International Mid Cap ETF | SPDR S&P Emerging Markets Small Cap ETF | SPDR Dow Jones Global Real Estate ETF | SPDR S&P International Consumer Discretionary Sector ETF | SPDR S&P International Consumer Staples Sector ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 353,820 | $ | 840,610 | $ | 3,223,725 | $ | 17,739,188 | $ | 15,722,606 | $ | 22,926,192 | $ | 118,301 | $ | 214,116 | $ | 334,029 | $ | 722,469 | ||||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | 160,702 | 3,777,828 | (26,551,630 | ) | 6,623,290 | 13,825,857 | 33,827,386 | 1,702,999 | 23,699 | (17,922 | ) | 34,691 | ||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 3,167,708 | 3,397,191 | 51,687,296 | 25,258,618 | 17,538,776 | (10,972,036 | ) | (1,059,996 | ) | 3,230,754 | 852,019 | 2,840,955 | ||||||||||||||||||||||||||||
Net increase in net assets resulting from operations | 3,682,230 | 8,015,629 | 28,359,391 | 49,621,096 | 47,087,239 | 45,781,542 | 761,304 | 3,468,569 | 1,168,126 | 3,598,115 | ||||||||||||||||||||||||||||||
Net equalization credits and charges (Note 2) | — | — | — | — | 57,523 | 2,059,831 | (4,040 | ) | (5,822 | ) | — | 28,146 | ||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (1,011,373 | ) | (911,027 | ) | (11,261,827 | ) | (20,055,509 | ) | (15,219,387 | ) | (36,887,834 | ) | (148,669 | ) | (184,061 | ) | (284,801 | ) | (749,704 | ) | ||||||||||||||||||||
Net realized gains | (3,056,290 | ) | (80,604 | ) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Total distributions to shareholders | (4,067,663 | ) | (991,631 | ) | (11,261,827 | ) | (20,055,509 | ) | (15,219,387 | ) | (36,887,834 | ) | (148,669 | ) | (184,061 | ) | (284,801 | ) | (749,704 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 10,065,616 | 7,543,422 | — | — | 113,149,371 | 545,280,932 | 5,846,831 | 10,162,220 | — | 15,107,484 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | — | (4,161,271 | ) | (132,683,713 | ) | (166,152,320 | ) | (50,428,622 | ) | (94,273,434 | ) | (5,839,099 | ) | — | — | — | ||||||||||||||||||||||||
Net income equalization (Note 2) | — | — | — | — | (57,523 | ) | (2,059,831 | ) | 4,040 | 5,822 | — | (28,146 | ) | |||||||||||||||||||||||||||
Other capital (Note 4) | — | — | — | 606,781 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 10,065,616 | 3,382,151 | (132,683,713 | ) | (165,545,539 | ) | 62,663,226 | 448,947,667 | 11,772 | 10,168,042 | — | 15,079,338 | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 9,680,183 | 10,406,149 | (115,586,149 | ) | (135,979,952 | ) | 94,588,601 | 459,901,206 | 620,367 | 13,446,728 | 883,325 | 17,955,895 | ||||||||||||||||||||||||||||
Net assets at beginning of period | 46,399,445 | 35,993,296 | 761,466,052 | 897,446,004 | 1,003,377,390 | 543,476,184 | 18,975,943 | 5,529,215 | 36,941,499 | 18,985,604 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 56,079,628 | $ | 46,399,445 | $ | 645,879,903 | $ | 761,466,052 | $ | 1,097,965,991 | $ | 1,003,377,390 | $ | 19,596,310 | $ | 18,975,943 | $ | 37,824,824 | $ | 36,941,499 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 300,000 | 250,000 | — | — | 2,600,000 | 12,600,000 | 150,000 | 300,000 | — | 400,000 | ||||||||||||||||||||||||||||||
Shares redeemed | — | (150,000 | ) | (2,900,000 | ) | (3,700,000 | ) | (1,200,000 | ) | (2,200,000 | ) | (150,000 | ) | — | — | — | ||||||||||||||||||||||||
Net increase (decrease) | 300,000 | 100,000 | (2,900,000 | ) | (3,700,000 | ) | 1,400,000 | 10,400,000 | — | 300,000 | — | 400,000 | ||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (207,885 | ) | $ | 449,668 | $ | 1,058,667 | $ | 9,096,769 | $ | (13,979,477 | ) | $ | (14,482,696 | ) | $ | 69,661 | $ | 100,029 | $ | 22,135 | $ | (27,093 | ) | ||||||||||||||||
See accompanying notes to financial statements.
294
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
295
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P International Energy Sector ETF | SPDR S&P International Financial Sector ETF | SPDR S&P International Health Care Sector ETF | SPDR S&P International Industrial Sector ETF | SPDR S&P International Materials Sector ETF | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 166,841 | $ | 379,278 | $ | 105,119 | $ | 226,169 | $ | 645,882 | $ | 833,299 | $ | 199,908 | $ | 228,261 | $ | 56,685 | $ | 186,627 | ||||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | (100,899 | ) | (27,685 | ) | 3,297 | 234,629 | 3,153,393 | (280,401 | ) | (138,365 | ) | (514,208 | ) | (582,406 | ) | (619,920 | ) | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 862,847 | (47,514 | ) | 309,634 | 921,583 | 3,865,839 | 6,850,211 | 1,128,874 | 2,548,643 | 684,778 | 627,096 | |||||||||||||||||||||||||||||
Net increase in net assets resulting from operations | 928,789 | 304,079 | 418,050 | 1,382,381 | 7,665,114 | 7,403,109 | 1,190,417 | 2,262,696 | 159,057 | 193,803 | ||||||||||||||||||||||||||||||
Net equalization credits and charges (Note 2) | — | 12,017 | (74,711 | ) | (36,364 | ) | (579 | ) | 80,293 | (54,432 | ) | (75,203 | ) | — | (2,855 | ) | ||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (183,842 | ) | (383,819 | ) | (230,964 | ) | (222,351 | ) | (590,572 | ) | (880,788 | ) | (250,945 | ) | (221,282 | ) | (137,153 | ) | (186,670 | ) | ||||||||||||||||||||
Total distributions to shareholders | (183,842 | ) | (383,819 | ) | (230,964 | ) | (222,351 | ) | (590,572 | ) | (880,788 | ) | (250,945 | ) | (221,282 | ) | (137,153 | ) | (186,670 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | — | 1,225,170 | 4,427,116 | 3,890,337 | — | 25,833,615 | 12,363,293 | 5,552,523 | — | — | ||||||||||||||||||||||||||||||
Cost of shares redeemed | — | — | — | (2,056,618 | ) | (8,881,343 | ) | — | — | (2,489,084 | ) | — | (2,516,666 | ) | ||||||||||||||||||||||||||
Net income equalization (Note 2) | — | (12,017 | ) | 74,711 | 36,364 | 579 | (80,293 | ) | 54,432 | 75,203 | — | 2,855 | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | — | 1,213,153 | 4,501,827 | 1,870,083 | (8,880,764 | ) | 25,753,322 | 12,417,725 | 3,138,642 | — | (2,513,811 | ) | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 744,947 | 1,145,430 | 4,614,202 | 2,993,749 | (1,806,801 | ) | 32,355,936 | 13,302,765 | 5,104,853 | 21,904 | (2,509,533 | ) | ||||||||||||||||||||||||||||
Net assets at beginning of period | 12,534,798 | 11,389,368 | 6,527,758 | 3,534,009 | 60,479,075 | 28,123,139 | 13,739,745 | 8,634,892 | 9,332,891 | 11,842,424 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 13,279,745 | $ | 12,534,798 | $ | 11,141,960 | $ | 6,527,758 | $ | 58,672,274 | $ | 60,479,075 | $ | 27,042,510 | $ | 13,739,745 | $ | 9,354,795 | $ | 9,332,891 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | — | 50,000 | 200,000 | 200,000 | — | 650,000 | 400,000 | 200,000 | — | — | ||||||||||||||||||||||||||||||
Shares redeemed | — | — | — | (100,000 | ) | (200,000 | ) | — | — | (100,000 | ) | — | (100,000 | ) | ||||||||||||||||||||||||||
Net increase (decrease) | — | 50,000 | 200,000 | 100,000 | (200,000 | ) | 650,000 | 400,000 | 100,000 | — | (100,000 | ) | ||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 6,086 | $ | 23,087 | $ | (13,821 | ) | $ | 112,024 | $ | 102,888 | $ | 47,578 | $ | 66,955 | $ | 117,992 | $ | 15,007 | $ | 95,475 | |||||||||||||||||||
See accompanying notes to financial statements.
296
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
297
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P International Technology Sector ETF | SPDR S&P International Telecommunications Sector ETF | SPDR S&P International Utilities Sector ETF | ||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||||||||
3/31/14 | Year Ended | 3/31/14 | Year Ended | 3/31/14 | Year Ended | |||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | |||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||
Net investment income (loss) | $ | 31,891 | $ | 150,548 | $ | 3,317,441 | $ | 1,260,122 | $ | 538,864 | $ | 1,089,380 | ||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | 33,034 | 1,132,665 | 1,250,610 | 377,703 | (1,077,813 | ) | (379,068 | ) | ||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 843,365 | 1,614,993 | (1,742,434 | ) | 5,064,981 | 5,246,680 | 3,303,560 | |||||||||||||||||
Net increase in net assets resulting from operations | 908,290 | 2,898,206 | 2,825,617 | 6,702,806 | 4,707,731 | 4,013,872 | ||||||||||||||||||
Net equalization credits and charges (Note 2) | 810 | (30,814 | ) | (239,544 | ) | 8,672 | 33,174 | 97,264 | ||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||
Net investment income | (124,043 | ) | (126,851 | ) | (3,085,744 | ) | (1,278,960 | ) | (597,293 | ) | (1,256,520 | ) | ||||||||||||
Total distributions to shareholders | (124,043 | ) | (126,851 | ) | (3,085,744 | ) | (1,278,960 | ) | (597,293 | ) | (1,256,520 | ) | ||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||
Proceeds from sale of shares sold | 1,543,488 | 4,036,324 | 5,824,024 | 7,986,601 | 19,165,383 | 11,707,886 | ||||||||||||||||||
Cost of shares redeemed | — | (5,681,307 | ) | (8,487,193 | ) | (4,890,654 | ) | — | — | |||||||||||||||
Net income equalization (Note 2) | (810 | ) | 30,814 | 239,544 | (8,672 | ) | (33,174 | ) | (97,264 | ) | ||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 1,542,678 | (1,614,169 | ) | (2,423,625 | ) | 3,087,275 | 19,132,209 | 11,610,622 | ||||||||||||||||
Net increase (decrease) in net assets during the period | 2,327,735 | 1,126,372 | (2,923,296 | ) | 8,519,793 | 23,275,821 | 14,465,238 | |||||||||||||||||
Net assets at beginning of period | 12,007,037 | 10,880,665 | 33,617,927 | 25,098,134 | 39,868,354 | 25,403,116 | ||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 14,334,772 | $ | 12,007,037 | $ | 30,694,631 | $ | 33,617,927 | $ | 63,144,175 | $ | 39,868,354 | ||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||
Shares sold | 50,000 | 150,000 | 200,000 | 350,000 | 1,050,000 | 700,000 | ||||||||||||||||||
Shares redeemed | — | (200,000 | ) | (300,000 | ) | (200,000 | ) | — | — | |||||||||||||||
Net increase (decrease) | 50,000 | (50,000 | ) | (100,000 | ) | 150,000 | 1,050,000 | 700,000 | ||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 1,511 | $ | 93,663 | $ | 245,849 | $ | 14,152 | $ | (221,001 | ) | $ | (162,572 | ) | ||||||||||
See accompanying notes to financial statements.
298
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
299
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR STOXX Europe 50 ETF | SPDR EURO STOXX 50 ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 36.47 | $ | 31.50 | $ | 28.26 | $ | 33.39 | $ | 35.31 | $ | 36.33 | $ | 38.33 | $ | 30.96 | $ | 28.72 | $ | 36.90 | $ | 41.34 | $ | 41.88 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 1.47 | 1.19 | 1.25 | 1.23 | 1.02 | 1.11 | 0.27 | 1.19 | 1.42 | 1.63 | 1.13 | 1.21 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 1.47 | 4.84 | 3.21 | (4.73 | ) | (1.95 | ) | (1.05 | ) | 4.28 | 7.19 | 1.77 | (8.23 | ) | (4.47 | ) | (0.65 | ) | ||||||||||||||||||||||||||||||
Total from investment operations | 2.94 | 6.03 | 4.46 | (3.50 | ) | (0.93 | ) | 0.06 | 4.55 | 8.38 | 3.19 | (6.60 | ) | (3.34 | ) | 0.56 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.06 | 0.13 | 0.04 | (0.03 | ) | 0.06 | (0.01 | ) | 0.03 | 0.13 | 0.35 | (0.00 | )(3) | 0.10 | 0.15 | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (1.24 | ) | (1.19 | ) | (1.26 | ) | (1.60 | ) | (1.05 | ) | (1.07 | ) | (0.28 | ) | (1.14 | ) | (1.30 | ) | (1.58 | ) | (1.20 | ) | (1.25 | ) | ||||||||||||||||||||||||
Total distributions | (1.24 | ) | (1.19 | ) | (1.26 | ) | (1.60 | ) | (1.05 | ) | (1.07 | ) | (0.28 | ) | (1.14 | ) | (1.30 | ) | (1.58 | ) | (1.20 | ) | (1.25 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 38.23 | $ | 36.47 | $ | 31.50 | $ | 28.26 | $ | 33.39 | $ | 35.31 | $ | 42.63 | $ | 38.33 | $ | 30.96 | $ | 28.72 | $ | 36.90 | $ | 41.34 | ||||||||||||||||||||||||
Total return (4) | 8.22 | % | 19.94 | %(5) | 16.25 | % | (11.37 | )% | (2.52 | )% | 0.69 | % | 11.98 | % | 28.10 | %(5) | 12.90 | % | (18.88 | )% | (7.48 | )% | 2.35 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 229,388 | $ | 109,419 | $ | 37,809 | $ | 29,684 | $ | 38,407 | $ | 56,514 | $ | 5,239,671 | $ | 3,285,263 | $ | 993,820 | $ | 116,356 | $ | 162,400 | $ | 181,922 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.29 | %(6) | 0.29 | % | 0.29 | % | 0.30 | % | 0.31 | % | 0.29 | % | 0.29 | %(6) | 0.29 | % | 0.29 | % | 0.30 | % | 0.31 | % | 0.29 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 7.73 | %(6) | 3.47 | % | 4.12 | % | 3.55 | % | 3.05 | % | 3.93 | % | 1.32 | %(6) | 3.43 | % | 4.78 | % | 4.29 | % | 3.03 | % | 3.67 | % | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 4 | % | 12 | % | 6 | % | 7 | % | 9 | % | 11 | % | 1 | % | 8 | % | 9 | % | 7 | % | 8 | % | 12 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have been 19.93% for SPDR STOXX Europe 50 ETF and would have remained 28.10% for SPDR EURO STOXX 50 ETF. | |
(6) | Annualized | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
300
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
301
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Asia Pacific ETF | SPDR S&P Small Cap Emerging Asia Pacific ETF | SPDR S&P Russia ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | For the | Six Months | For the | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | Period | Ended | Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | 1/11/12*- | 3/31/14 | Year Ended | Year Ended | Year Ended | 3/10/10*- | |||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | |||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 75.37 | $ | 73.54 | $ | 66.85 | $ | 82.86 | $ | 69.33 | $ | 54.59 | $ | 43.24 | $ | 44.42 | $ | 40.00 | $ | 27.19 | $ | 28.54 | $ | 25.65 | $ | 30.01 | $ | 30.00 | ||||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | (0.01 | ) | 1.62 | 1.32 | 1.52 | 1.28 | 1.21 | 0.15 | 0.89 | 0.70 | 0.13 | 0.70 | 0.57 | 0.57 | 0.20 | |||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 2.49 | 1.96 | 8.00 | (13.63 | ) | 13.06 | 13.92 | 2.81 | 2.79 | 3.52 | (3.70 | ) | (0.82 | ) | 2.80 | (4.53 | ) | (0.01 | ) | |||||||||||||||||||||||||||||||||||||
Total from investment operations | 2.48 | 3.58 | 9.32 | (12.11 | ) | 14.34 | 15.13 | 2.96 | 3.68 | 4.22 | (3.57 | ) | (0.12 | ) | 3.37 | (3.96 | ) | 0.19 | ||||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.43 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Other capital | — | — | — | — | — | — | — | — | 0.20 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.81 | ) | (1.75 | ) | (1.71 | ) | (1.29 | ) | (0.81 | ) | (0.82 | ) | (1.61 | ) | (1.66 | ) | — | (0.24 | ) | (1.23 | ) | (0.48 | ) | (0.29 | ) | (0.18 | ) | |||||||||||||||||||||||||||||
Net realized gains | — | — | (0.92 | ) | (2.61 | ) | — | — | (2.69 | ) | (3.20 | ) | — | — | — | — | (0.11 | ) | — | |||||||||||||||||||||||||||||||||||||
Total distributions | (0.81 | ) | (1.75 | ) | (2.63 | ) | (3.90 | ) | (0.81 | ) | (0.82 | ) | (4.30 | ) | (4.86 | ) | — | (0.24 | ) | (1.23 | ) | (0.48 | ) | (0.40 | ) | (0.18 | ) | |||||||||||||||||||||||||||||
Net asset value, end of period | $ | 77.04 | $ | 75.37 | $ | 73.54 | $ | 66.85 | $ | 82.86 | $ | 69.33 | $ | 41.90 | $ | 43.24 | $ | 44.42 | $ | 23.38 | $ | 27.19 | $ | 28.54 | $ | 25.65 | $ | 30.01 | ||||||||||||||||||||||||||||
Total return (3) | 3.31 | % | 4.91 | % | 14.40 | % | (15.55 | )% | 20.85 | % | 29.15 | % | 7.20 | % | 8.31 | %(4) | 11.08 | % | (13.26 | )% | (0.41 | )% | 13.40 | % | (13.58 | )% | 0.72 | % | ||||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 416,000 | $ | 399,460 | $ | 389,769 | $ | 514,755 | $ | 712,608 | $ | 436,766 | $ | 4,190 | $ | 2,162 | $ | 2,221 | $ | 21,040 | $ | 31,264 | $ | 39,963 | $ | 43,611 | $ | 6,003 | ||||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.59 | %(5) | 0.59 | % | 0.60 | % | 0.60 | % | 0.60 | % | 0.59 | % | 0.65 | %(5) | 0.65 | % | 0.71 | %(5) | 0.59 | %(5) | 0.60 | % | 0.59 | % | 0.59 | % | 0.59 | %(5) | ||||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | (0.02 | )%(5) | 2.14 | % | 1.87 | % | 1.83 | % | 1.74 | % | 2.25 | % | 0.73 | %(5) | 2.05 | % | 2.27 | %(5) | 0.98 | %(5) | 2.56 | % | 2.05 | % | 1.56 | % | 1.25 | %(5) | ||||||||||||||||||||||||||||
Portfolio turnover rate (6) | 2 | % | 16 | % | 7 | % | 20 | % | 10 | % | 4 | % | 8 | % | 21 | % | 65 | % | 1 | % | 3 | % | 11 | % | 15 | % | 1 | % |
* | Commencement of operations. | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have been 8.23% for SPDR S&P Small Cap Emerging Asia Pacific ETF. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
302
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
303
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P China ETF | SPDR S&P Emerging Markets ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 74.18 | $ | 65.45 | $ | 57.68 | $ | 76.14 | $ | 66.50 | $ | 51.29 | $ | 63.14 | $ | 63.85 | $ | 57.26 | $ | 69.89 | $ | 59.00 | $ | 51.86 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | (0.07 | ) | 1.63 | 1.68 | 1.31 | 1.03 | 1.21 | 0.23 | 1.38 | 1.48 | 1.36 | 1.09 | 0.97 | |||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | (1.15 | ) | 8.72 | 7.56 | (18.48 | ) | 9.44 | 14.81 | 0.62 | (0.55 | ) | 7.20 | (12.20 | ) | 10.73 | 7.00 | ||||||||||||||||||||||||||||||||
Total from investment operations | (1.22 | ) | 10.35 | 9.24 | (17.17 | ) | 10.47 | 16.02 | 0.85 | 0.83 | 8.68 | (10.84 | ) | 11.82 | 7.97 | |||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.53 | — | — | — | — | — | 0.60 | ||||||||||||||||||||||||||||||||||||
Other capital | — | — | — | — | — | — | — | — | 0.00 | (3) | — | — | — | |||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.49 | ) | (1.62 | ) | (1.47 | ) | (1.29 | ) | (0.83 | ) | (1.34 | ) | (0.47 | ) | (1.54 | ) | (1.41 | ) | (1.15 | ) | (0.93 | ) | (1.43 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | (0.68 | ) | (0.64 | ) | — | — | ||||||||||||||||||||||||||||||||||
Total distributions | (0.49 | ) | (1.62 | ) | (1.47 | ) | (1.29 | ) | (0.83 | ) | (1.34 | ) | (0.47 | ) | (1.54 | ) | (2.09 | ) | (1.79 | ) | (0.93 | ) | (1.43 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 72.47 | $ | 74.18 | $ | 65.45 | $ | 57.68 | $ | 76.14 | $ | 66.50 | $ | 63.52 | $ | 63.14 | $ | 63.85 | $ | 57.26 | $ | 69.89 | $ | 59.00 | ||||||||||||||||||||||||
Total return (4) | (1.67 | )% | 16.20 | % | 16.17 | % | (22.95 | )% | 15.87 | % | 33.06 | % | 1.37 | % | 1.31 | % | 15.58 | % | (16.06 | )% | 20.25 | % | 18.05 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 775,446 | $ | 897,623 | $ | 759,186 | $ | 617,133 | $ | 677,680 | $ | 445,539 | $ | 196,914 | $ | 189,412 | $ | 166,023 | $ | 154,600 | $ | 216,661 | $ | 94,395 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.59 | %(5) | 0.59 | % | 0.59 | % | 0.60 | % | 0.61 | % | 0.59 | % | 0.59 | %(5) | 0.59 | % | 0.59 | % | 0.60 | % | 0.60 | % | 0.59 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | (0.17 | )%(5) | 2.31 | % | 2.56 | % | 1.71 | % | 1.46 | % | 2.22 | % | 0.74 | %(5) | 2.15 | % | 2.39 | % | 1.90 | % | 1.73 | % | 2.18 | % | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 4 | % | 12 | % | 10 | % | 9 | % | 25 | % | 0 | %(7) | 5 | % | 21 | % | 11 | % | 4 | % | 15 | % | 1 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | State Street reimbursed the Fund $6,299 due to a record keeping error. The impact of the reimbursement is less than $0.005. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(7) | Amount shown represents less than 0.5%. |
304
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Markets Dividend ETF | SPDR S&P BRIC 40 ETF | |||||||||||||||||||||||||||||||||||||||
Six Months | For the | Six Months | ||||||||||||||||||||||||||||||||||||||
Ended | Period | Ended | ||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | 2/23/11*- | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 40.34 | $ | 43.70 | $ | 43.89 | $ | 50.00 | $ | 23.34 | $ | 22.97 | $ | 20.92 | $ | 25.84 | $ | 23.03 | $ | 20.29 | ||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.32 | 2.45 | 3.18 | 2.32 | 0.05 | 0.57 | 0.54 | 0.60 | 0.43 | 0.42 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | (2.25 | ) | (3.87 | ) | (0.78 | ) | (6.96 | ) | (1.01 | ) | 0.49 | 2.09 | (5.00 | ) | 2.75 | 2.97 | ||||||||||||||||||||||||
Total from investment operations | (1.93 | ) | (1.42 | ) | 2.40 | (4.64 | ) | (0.96 | ) | 1.06 | 2.63 | (4.40 | ) | 3.18 | 3.39 | |||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.01 | 0.09 | 0.01 | 0.43 | — | — | — | — | — | 0.01 | ||||||||||||||||||||||||||||||
Other capital | 0.01 | 0.05 | — | — | — | — | 0.00 | (4) | — | — | — | |||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.23 | ) | (2.08 | ) | (2.60 | ) | (1.28 | ) | (0.13 | ) | (0.69 | ) | (0.58 | ) | (0.52 | ) | (0.37 | ) | (0.66 | ) | ||||||||||||||||||||
Return of capital | — | — | — | (0.62 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total distributions | (0.23 | ) | (2.08 | ) | (2.60 | ) | (1.90 | ) | (0.13 | ) | (0.69 | ) | (0.58 | ) | (0.52 | ) | (0.37 | ) | (0.66 | ) | ||||||||||||||||||||
Net asset value, end of period | $ | 38.20 | $ | 40.34 | $ | 43.70 | $ | 43.89 | $ | 22.25 | $ | 23.34 | $ | 22.97 | $ | 20.92 | $ | 25.84 | $ | 23.03 | ||||||||||||||||||||
Total return (5) | (4.75 | )% | (2.80 | )% | 5.54 | % | (8.73 | )% | (4.14 | )% | 4.95 | % | 12.82 | % | (17.49 | )% | 13.98 | % | 18.16 | % | ||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 471,755 | $ | 538,651 | $ | 301,515 | $ | 54,862 | $ | 157,978 | $ | 247,441 | $ | 296,324 | $ | 374,453 | $ | 459,991 | $ | 340,812 | ||||||||||||||||||||
Ratio of expenses to average net assets | 0.59 | %(6) | 0.60 | % | 0.61 | % | 0.62 | %(6) | 0.50 | %(6) | 0.50 | % | 0.50 | % | 0.51 | % | 0.52 | % | 0.48 | % | ||||||||||||||||||||
Ratio of expenses to average net assets before waivers | 0.59 | %(6) | 0.60 | % | 0.61 | % | 0.62 | %(6) | 0.50 | %(6) | 0.50 | % | 0.50 | % | 0.51 | % | 0.52 | % | 0.50 | % | ||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.66 | %(6) | 5.71 | % | 6.80 | % | 7.46 | %(6) | 0.40 | %(6) | 2.45 | % | 2.32 | % | 2.23 | % | 1.78 | % | 2.36 | % | ||||||||||||||||||||
Portfolio turnover rate (7) | 34 | % | 85 | % | 134 | % | 42 | % | 6 | % | 9 | % | 13 | % | 10 | % | 10 | % | 16 | % |
* | Commencement of operations. | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | State Street reimbursed the Fund $29,705 due to a record keeping error. The impact of the reimbursement is less than $0.005. | |
(5) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(6) | Annualized | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
306
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Europe ETF | SPDR S&P Emerging Latin America ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 40.26 | $ | 41.26 | $ | 37.16 | $ | 45.55 | $ | 39.42 | $ | 42.73 | $ | 64.16 | $ | 71.28 | $ | 64.12 | $ | 84.48 | $ | 69.92 | $ | 61.83 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.09 | 1.02 | 0.95 | 1.02 | 0.46 | 0.50 | 0.65 | 1.65 | 1.76 | 1.93 | (2) | 1.57 | 1.13 | |||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | (3.19 | ) | (0.37 | ) | 4.22 | (8.73 | ) | 6.06 | (2.77 | ) | (2.74 | ) | (7.23 | ) | 7.40 | (20.76 | ) | 14.73 | 8.12 | |||||||||||||||||||||||||||||
Total from investment operations | (3.10 | ) | 0.65 | 5.17 | (7.71 | ) | 6.52 | (2.27 | ) | (2.09 | ) | (5.58 | ) | 9.16 | (18.83 | ) | 16.30 | 9.25 | ||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | (0.29 | ) | — | — | — | — | — | 0.37 | |||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.29 | ) | (1.65 | ) | (1.07 | ) | (0.68 | ) | (0.39 | ) | (0.75 | ) | (0.70 | ) | (1.54 | ) | (2.00 | ) | (1.53 | ) | (1.74 | ) | (1.53 | ) | ||||||||||||||||||||||||
Total distributions | (0.29 | ) | (1.65 | ) | (1.07 | ) | (0.68 | ) | (0.39 | ) | (0.75 | ) | (0.70 | ) | (1.54 | ) | (2.00 | ) | (1.53 | ) | (1.74 | ) | (1.53 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 36.87 | $ | 40.26 | $ | 41.26 | $ | 37.16 | $ | 45.55 | $ | 39.42 | $ | 61.37 | $ | 64.16 | $ | 71.28 | $ | 64.12 | $ | 84.48 | $ | 69.92 | ||||||||||||||||||||||||
Total return (4) | (7.73 | )% | 1.68 | % | 14.32 | % | (17.35 | )% | 16.74 | % | (5.18 | )% | (3.26 | )% | (7.86 | )% | 14.49 | % | (22.78 | )%(2) | 23.73 | % | 16.99 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 77,428 | $ | 76,485 | $ | 86,639 | $ | 118,917 | $ | 232,325 | $ | 137,975 | $ | 55,232 | $ | 70,575 | $ | 114,055 | $ | 121,832 | $ | 211,194 | $ | 132,844 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.59 | %(5) | 0.59 | % | 0.60 | % | 0.61 | % | 0.61 | % | 0.59 | % | 0.59 | %(5) | 0.59 | % | 0.59 | % | 0.60 | % | 0.61 | % | 0.60 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.44 | %(5) | 2.48 | % | 2.41 | % | 2.04 | % | 1.07 | % | 1.66 | % | 2.14 | %(5) | 2.35 | % | 2.43 | % | 2.27 | %(2) | 2.05 | % | 2.27 | % | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 3 | % | 6 | % | 6 | % | 10 | % | 21 | % | 45 | % | 1 | % | 10 | % | 7 | % | 12 | % | 23 | % | 17 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Net investment income per share and the ratio of net investment income to average net assets reflect receipt of special dividends from portfolio holdings. The resulting increase to net investment income amounted to $0.21 per share and 0.24% of average net assets. If the special dividends were not received during the year ended September 30, 2011, the total return would have been (23.11)%. | |
(3) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
308
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
309
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Middle East & Africa ETF | SPDR S&P World ex-US ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 67.53 | $ | 70.76 | $ | 62.01 | $ | 71.33 | $ | 58.74 | $ | 54.48 | $ | 28.00 | $ | 23.91 | $ | 21.37 | $ | 24.19 | $ | 23.58 | $ | 23.31 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.75 | 1.52 | 2.13 | 1.87 | 1.33 | 1.36 | 0.43 | 0.73 | 0.75 | 0.75 | 0.56 | 0.57 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 3.89 | (3.17 | ) | 9.44 | (9.65 | ) | 12.51 | 5.97 | 1.22 | 4.04 | 2.38 | (2.89 | ) | 0.56 | (0.22 | ) | ||||||||||||||||||||||||||||||||
Total from investment operations | 4.64 | (1.65 | ) | 11.57 | (7.78 | ) | 13.84 | 7.33 | 1.65 | 4.77 | 3.13 | (2.14 | ) | 1.12 | 0.35 | |||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | (0.51 | ) | — | — | — | — | — | 0.56 | |||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (1.33 | ) | (1.58 | ) | (2.82 | ) | (1.54 | ) | (1.25 | ) | (2.56 | ) | (0.27 | ) | (0.68 | ) | (0.59 | ) | (0.68 | ) | (0.51 | ) | (0.64 | ) | ||||||||||||||||||||||||
Total distributions | (1.33 | ) | (1.58 | ) | (2.82 | ) | (1.54 | ) | (1.25 | ) | (2.56 | ) | (0.27 | ) | (0.68 | ) | (0.59 | ) | (0.68 | ) | (0.51 | ) | (0.64 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 70.84 | $ | 67.53 | $ | 70.76 | $ | 62.01 | $ | 71.33 | $ | 58.74 | $ | 29.38 | $ | 28.00 | $ | 23.91 | $ | 21.37 | $ | 24.19 | $ | 23.58 | ||||||||||||||||||||||||
Total return (3) | 6.99 | % | (2.38 | )% | 19.26 | % | (11.32 | )% | 23.91 | % | 14.04 | % | 5.92 | % | 20.27 | % | 14.99 | % | (9.32 | )% | 4.99 | % | 4.68 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 63,758 | $ | 67,535 | $ | 91,986 | $ | 105,410 | $ | 142,664 | $ | 129,232 | $ | 898,948 | $ | 688,755 | $ | 411,282 | $ | 119,679 | $ | 106,453 | $ | 84,886 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.59 | %(4) | 0.59 | % | 0.59 | % | 0.60 | % | 0.60 | % | 0.59 | % | 0.34 | %(4) | 0.34 | % | 0.34 | % | 0.35 | % | 0.35 | % | 0.34 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 2.23 | %(4) | 2.26 | % | 3.17 | % | 2.55 | % | 2.12 | % | 2.98 | % | 3.02 | %(4) | 2.79 | % | 3.28 | % | 2.94 | % | 2.44 | % | 3.02 | % | ||||||||||||||||||||||||
Portfolio turnover rate (5) | 1 | % | 2 | % | 7 | % | 4 | % | 27 | % | 12 | % | 14 | % | 2 | % | 8 | % | 2 | % | 7 | % | 12 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
310
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
311
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Small Cap ETF | SPDR Dow Jones International Real Estate ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 32.82 | $ | 27.49 | $ | 25.79 | $ | 27.92 | $ | 25.45 | $ | 23.71 | $ | 42.00 | $ | 39.29 | $ | 32.70 | $ | 38.39 | $ | 35.53 | $ | 37.86 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.21 | 0.65 | 0.57 | 0.64 | 0.46 | 0.44 | 0.49 | 1.29 | 1.41 | 1.57 | 1.34 | 1.34 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 1.80 | 5.37 | 2.08 | (2.14 | ) | 2.42 | 1.74 | (0.24 | ) | 4.01 | 5.67 | (3.82 | ) | 2.84 | (2.38 | ) | ||||||||||||||||||||||||||||||||
Total from investment operations | 2.01 | 6.02 | 2.65 | (1.50 | ) | 2.88 | 2.18 | 0.25 | 5.30 | 7.08 | (2.25 | ) | 4.18 | (1.04 | ) | |||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.12 | (0.00 | )(3) | 0.02 | 1.06 | 0.09 | (0.01 | ) | 0.05 | ||||||||||||||||||||||||||||||||||
Other capital | — | — | 0.00 | (4) | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.83 | ) | (0.69 | ) | (0.75 | ) | (0.63 | ) | (0.41 | ) | (0.56 | ) | (1.12 | ) | (2.61 | ) | (1.55 | ) | (3.53 | ) | (1.31 | ) | (1.34 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | (0.20 | ) | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.83 | ) | (0.69 | ) | (0.95 | ) | (0.63 | ) | (0.41 | ) | (0.56 | ) | (1.12 | ) | (2.61 | ) | (1.55 | ) | (3.53 | ) | (1.31 | ) | (1.34 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 34.00 | $ | 32.82 | $ | 27.49 | $ | 25.79 | $ | 27.92 | $ | 25.45 | $ | 41.13 | $ | 42.00 | $ | 39.29 | $ | 32.70 | $ | 38.39 | $ | 35.53 | ||||||||||||||||||||||||
Total return (5) | 6.17 | % | 22.25 | % | 10.74 | % | (5.72 | )% | 11.54 | % | 10.45 | % | 0.64 | % | 13.83 | %(6) | 25.52 | % | (6.76 | )% | 12.15 | % | (1.52 | )% | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 877,131 | $ | 813,871 | $ | 679,080 | $ | 729,907 | $ | 622,564 | $ | 509,033 | $ | 4,225,865 | $ | 4,045,899 | $ | 3,136,658 | $ | 1,996,074 | $ | 1,314,261 | $ | 939,265 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.59 | %(7) | 0.59 | % | 0.59 | % | 0.61 | % | 0.60 | % | 0.59 | % | 0.59 | %(7) | 0.59 | % | 0.59 | % | 0.61 | % | 0.60 | % | 0.59 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.25 | %(7) | 2.20 | % | 2.16 | % | 2.12 | % | 1.81 | % | 2.27 | % | 2.38 | %(7) | 3.10 | % | 3.96 | % | 4.05 | % | 3.86 | % | 4.85 | % | ||||||||||||||||||||||||
Portfolio turnover rate (8) | 23 | % | 21 | % | 2 | % | 22 | % | 17 | % | 21 | % | 3 | % | 11 | % | 11 | % | 10 | % | 7 | % | 23 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | State Street reimbursed the Fund $13,909 due to a record keeping error. The impact of the reimbursement is less than $0.005. | |
(5) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(6) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have remained 13.83% for SPDR Dow Jones International Real Estate ETF. | |
(7) | Annualized | |
(8) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
312
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
313
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Global Infrastructure ETF | SPDR S&P Global Natural Resources ETF | |||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | For the | ||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | Period | ||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | 9/13/10*- | ||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | ||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 43.51 | $ | 40.42 | $ | 38.94 | $ | 40.91 | $ | 41.94 | $ | 47.03 | $ | 48.54 | $ | 50.90 | $ | 45.94 | $ | 50.76 | $ | 50.00 | ||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.59 | 1.99 | 1.60 | 1.71 | 1.47 | 1.57 | 0.48 | 1.30 | 1.14 | 1.23 | 0.03 | |||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 4.37 | 2.71 | 1.53 | (2.03 | ) | (0.88 | ) | (4.35 | ) | 1.59 | (2.41 | ) | 4.78 | (5.44 | ) | 0.73 | ||||||||||||||||||||||||||||
Total from investment operations | 4.96 | 4.70 | 3.13 | (0.32 | ) | 0.59 | (2.78 | ) | 2.07 | (1.11 | ) | 5.92 | (4.21 | ) | 0.76 | |||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.07 | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.74 | ) | (1.61 | ) | (1.65 | ) | (1.65 | ) | (1.62 | ) | (2.38 | ) | (0.46 | ) | (1.25 | ) | (0.96 | ) | (0.61 | ) | — | |||||||||||||||||||||||
Total distributions | (0.74 | ) | (1.61 | ) | (1.65 | ) | (1.65 | ) | (1.62 | ) | (2.38 | ) | (0.46 | ) | (1.25 | ) | (0.96 | ) | (0.61 | ) | — | |||||||||||||||||||||||
Net asset value, end of period | $ | 47.73 | $ | 43.51 | $ | 40.42 | $ | 38.94 | $ | 40.91 | $ | 41.94 | $ | 50.15 | $ | 48.54 | $ | 50.90 | $ | 45.94 | $ | 50.76 | ||||||||||||||||||||||
Total return (3) | 11.52 | % | 11.99 | % | 8.20 | % | (1.04 | )% | 1.63 | % | (5.40 | )% | 4.27 | % | (2.09 | )% | 13.07 | % | (8.56 | )% | 1.52 | % | ||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 95,450 | $ | 52,217 | $ | 36,378 | $ | 35,045 | $ | 53,186 | $ | 67,099 | $ | 529,106 | $ | 407,763 | $ | 414,852 | $ | 163,076 | $ | 7,615 | ||||||||||||||||||||||
Ratio of expenses to average net assets | 0.40 | %(4) | 0.50 | % | 0.59 | % | 0.60 | % | 0.61 | % | 0.59 | % | 0.40 | %(4) | 0.40 | % | 0.40 | % | 0.40 | % | 0.38 | %(4) | ||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 2.64 | %(4) | 4.79 | % | 4.02 | % | 4.07 | % | 3.63 | % | 4.16 | % | 1.97 | %(4) | 2.63 | % | 2.28 | % | 2.13 | % | 1.10 | %(4) | ||||||||||||||||||||||
Portfolio turnover rate (5) | 7 | % | 74 | % | 10 | % | 6 | % | 6 | % | 10 | % | 4 | % | 31 | % | 18 | % | 32 | % | 0 | %(6) |
* | Commencement of operations. | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(6) | Amount shown represents less than 0.5%. |
314
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
315
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR | ||||||||||||||||||||||||||||||||||||||||||||||||||||
MSCI EM | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Beyond | ||||||||||||||||||||||||||||||||||||||||||||||||||||
SPDR MSCI ACWI ex-US ETF | SPDR MSCI ACWI IMI ETF | SPDR MSCI EM 50 ETF | BRIC ETF | |||||||||||||||||||||||||||||||||||||||||||||||||
For the | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | For the | Six Months | For the | Period | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | Period | Ended | Period | 12/5/13*- | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | 2/27/12*- | 3/31/14 | Year Ended | 2/27/12*- | 3/31/14 | ||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | (Unaudited) | 9/30/13 | 9/30/12 | (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 34.29 | $ | 30.49 | $ | 27.55 | $ | 31.77 | $ | 30.38 | $ | 29.39 | $ | 58.20 | $ | 50.04 | $ | 50.00 | $ | 47.10 | $ | 47.31 | $ | 50.00 | $ | 60.00 | ||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.54 | 0.90 | 0.89 | 0.95 | 0.73 | 0.71 | 0.73 | 1.30 | 0.88 | 0.05 | 0.92 | 0.86 | 0.15 | |||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 1.28 | 3.88 | 2.93 | (4.28 | ) | 1.35 | 1.14 | 4.34 | 8.16 | (0.30 | ) | 0.25 | 0.34 | (3.09 | ) | 1.54 | ||||||||||||||||||||||||||||||||||||
Total from investment operations | 1.82 | 4.78 | 3.82 | (3.33 | ) | 2.08 | 1.85 | 5.07 | 9.46 | 0.58 | 0.30 | 1.26 | (2.23 | ) | 1.69 | |||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.08 | — | — | — | — | — | — | (0.03 | ) | ||||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.42 | ) | (0.98 | ) | (0.88 | ) | (0.89 | ) | (0.69 | ) | (0.94 | ) | (0.31 | ) | (1.28 | ) | (0.54 | ) | (0.38 | ) | (1.47 | ) | (0.46 | ) | (0.10 | ) | ||||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | (0.04 | ) | (0.02 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Total distributions | (0.42 | ) | (0.98 | ) | (0.88 | ) | (0.89 | ) | (0.69 | ) | (0.94 | ) | (0.35 | ) | (1.30 | ) | (0.54 | ) | (0.38 | ) | (1.47 | ) | (0.46 | ) | (0.10 | ) | ||||||||||||||||||||||||||
Net asset value, end of period | $ | 35.69 | $ | 34.29 | $ | 30.49 | $ | 27.55 | $ | 31.77 | $ | 30.38 | $ | 62.92 | $ | 58.20 | $ | 50.04 | $ | 47.02 | $ | 47.10 | $ | 47.31 | $ | 61.56 | ||||||||||||||||||||||||||
Total return (3) | 5.33 | % | 15.96 | % | 14.20 | % | (10.99 | )% | 7.13 | % | 7.41 | % | 8.73 | % | 19.15 | % | 1.28 | % | 0.63 | % | 2.74 | % | (4.37 | )% | 2.77 | % | ||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 549,655 | $ | 493,824 | $ | 384,218 | $ | 363,713 | $ | 393,909 | $ | 309,901 | $ | 12,584 | $ | 5,820 | $ | 5,004 | $ | 4,702 | $ | 2,355 | $ | 4,731 | $ | 6,156 | ||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.34 | %(4) | 0.34 | % | 0.34 | % | 0.35 | % | 0.35 | % | 0.34 | % | 0.25 | %(4) | 0.25 | % | 0.25 | %(4) | 0.50 | %(4) | 0.50 | % | 0.50 | %(4) | 0.55 | %(4) | ||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 3.11 | %(4) | 2.76 | % | 3.03 | % | 2.85 | % | 2.43 | % | 2.98 | % | 2.40 | %(4) | 2.40 | % | 3.08 | %(4) | 0.22 | %(4) | 1.97 | % | 3.16 | %(4) | 0.80 | %(4) | ||||||||||||||||||||||||||
Portfolio turnover rate (5) | 2 | % | 2 | % | 8 | % | 4 | % | 3 | % | 15 | % | — | %(6) | 0 | %(6) | 0 | %(6) | 6 | % | 7 | % | 4 | % | 16 | % |
* | Commencement of operations. | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(6) | Amount shown represents less than 0.5%. |
316
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
317
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR Russell/Nomura PRIME Japan ETF | SPDR Russell/Nomura Small Cap Japan ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 45.33 | $ | 35.57 | $ | 37.12 | $ | 37.80 | $ | 38.41 | $ | 39.64 | $ | 51.37 | $ | 41.65 | $ | 43.79 | $ | 39.65 | $ | 40.51 | $ | 35.84 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.33 | 0.92 | 0.66 | 0.85 | 0.50 | 0.46 | 0.30 | 0.61 | 0.64 | 0.69 | 0.53 | 0.60 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | (1.65 | ) | 9.34 | (1.55 | ) | (0.56 | ) | (0.58 | ) | (0.64 | ) | (1.73 | ) | 9.79 | (2.00 | ) | 4.12 | (0.73 | ) | 5.29 | ||||||||||||||||||||||||||||
Total from investment operations | (1.32 | ) | 10.26 | (0.89 | ) | 0.29 | (0.08 | ) | (0.18 | ) | (1.43 | ) | 10.40 | (1.36 | ) | 4.81 | (0.20 | ) | 5.89 | |||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.29 | — | — | — | — | — | (0.15 | ) | |||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.39 | ) | (0.50 | ) | (0.66 | ) | (0.97 | ) | (0.53 | ) | (1.34 | ) | (1.01 | ) | (0.68 | ) | (0.78 | ) | (0.67 | ) | (0.66 | ) | (1.07 | ) | ||||||||||||||||||||||||
Total distributions | (0.39 | ) | (0.50 | ) | (0.66 | ) | (0.97 | ) | (0.53 | ) | (1.34 | ) | (1.01 | ) | (0.68 | ) | (0.78 | ) | (0.67 | ) | (0.66 | ) | (1.07 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 43.62 | $ | 45.33 | $ | 35.57 | $ | 37.12 | $ | 37.80 | $ | 38.41 | $ | 48.93 | $ | 51.37 | $ | 41.65 | $ | 43.79 | $ | 39.65 | $ | 40.51 | ||||||||||||||||||||||||
Total return (3) | (2.95 | )% | 29.11 | % | (2.33 | )% | 0.56 | % | (0.14 | )% | 0.58 | % | (2.84 | )% | 25.23 | % | (3.05 | )% | 12.17 | % | (0.41 | )% | 16.35 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 130,868 | $ | 126,911 | $ | 14,227 | $ | 14,846 | $ | 15,119 | $ | 15,363 | $ | 73,396 | $ | 97,606 | $ | 64,563 | $ | 98,537 | $ | 67,412 | $ | 85,081 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.50 | %(4) | 0.50 | % | 0.50 | % | 0.51 | % | 0.51 | % | 0.50 | % | 0.55 | %(4) | 0.55 | % | 0.55 | % | 0.56 | % | 0.56 | % | 0.55 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.47 | %(4) | 2.18 | % | 1.83 | % | 2.16 | % | 1.34 | % | 1.32 | % | 1.22 | %(4) | 1.34 | % | 1.54 | % | 1.63 | % | 1.37 | % | 1.74 | % | ||||||||||||||||||||||||
Portfolio turnover rate (5) | 2 | % | 0 | %(6) | 1 | % | 3 | % | 3 | % | 6 | % | 5 | % | 13 | % | 22 | % | 10 | % | 24 | % | 25 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(6) | Amount shown represents less than 0.5%. |
318
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
319
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Global Dividend ETF | SPDR S&P International Dividend ETF | |||||||||||||||||||||||||||||||
Six Months | For the | Six Months | ||||||||||||||||||||||||||||||
Ended | Period | Ended | ||||||||||||||||||||||||||||||
3/31/14 | 5/29/13*- | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||
(Unaudited) | 9/30/13 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 63.33 | $ | 60.00 | $ | 46.60 | $ | 45.27 | $ | 45.07 | $ | 53.88 | $ | 52.49 | $ | 48.17 | ||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 1.07 | 0.75 | 0.77 | 3.27 | 3.29 | 3.48 | 2.32 | 2.09 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 3.53 | 3.20 | 1.98 | 1.20 | (0.22 | ) | (9.35 | ) | 1.26 | 3.70 | ||||||||||||||||||||||
Total from investment operations | 4.60 | 3.95 | 2.75 | 4.47 | 3.07 | (5.87 | ) | 3.58 | 5.79 | |||||||||||||||||||||||
Net equalization credits and charges (1) | (0.07 | ) | 0.01 | 0.01 | (0.00 | )(3) | 0.14 | 0.37 | 0.06 | 0.40 | ||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||
Net investment income | (1.07 | ) | (0.63 | ) | (0.89 | ) | (3.14 | ) | (3.01 | ) | (3.31 | ) | (2.25 | ) | (1.87 | ) | ||||||||||||||||
Total distributions | (1.07 | ) | (0.63 | ) | (0.89 | ) | (3.14 | ) | (3.01 | ) | (3.31 | ) | (2.25 | ) | (1.87 | ) | ||||||||||||||||
Net asset value, end of period | $ | 66.79 | $ | 63.33 | $ | 48.47 | $ | 46.60 | $ | 45.27 | $ | 45.07 | $ | 53.88 | $ | 52.49 | ||||||||||||||||
Total return (4) | 7.22 | % | 6.61 | % | 5.98 | % | 10.24 | % | 7.45 | % | (11.06 | )% | 7.34 | % | 13.86 | % | ||||||||||||||||
Net assets, end of period (in 000’s) | $ | 16,698 | $ | 9,499 | $ | 1,391,228 | $ | 1,304,826 | $ | 1,000,522 | $ | 482,266 | $ | 258,705 | $ | 126,037 | ||||||||||||||||
Ratio of expenses to average net assets | 0.40 | %(5) | 0.40 | %(5) | 0.45 | %(5) | 0.45 | % | 0.45 | % | 0.46 | % | 0.46 | % | 0.46 | % | ||||||||||||||||
Ratio of net investment income (loss) to average net assets | 3.31 | %(5) | 3.61 | %(5) | 3.28 | %(5) | 6.97 | % | 7.11 | % | 6.24 | % | 4.48 | % | 5.26 | % | ||||||||||||||||
Portfolio turnover rate (6) | 34 | % | 10 | % | 23 | % | 121 | % | 127 | % | 142 | % | 131 | % | 148 | % |
* | Commencement of operations. | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
320
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
321
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Mid Cap ETF | SPDR S&P Emerging Markets Small Cap ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 33.14 | $ | 27.69 | $ | 26.04 | $ | 28.76 | $ | 27.14 | $ | 26.04 | $ | 46.15 | $ | 44.43 | $ | 40.57 | $ | 54.62 | $ | 43.78 | $ | 32.69 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.22 | 0.67 | 0.68 | 0.76 | 0.55 | 0.57 | 0.21 | 0.95 | 0.96 | 0.99 | 1.06 | 0.66 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 2.17 | 5.60 | 2.57 | (2.31 | ) | 2.31 | 0.72 | 1.84 | 1.81 | 5.15 | (13.25 | ) | 10.65 | 10.18 | ||||||||||||||||||||||||||||||||||
Total from investment operations | 2.39 | 6.27 | 3.25 | (1.55 | ) | 2.86 | 1.29 | 2.05 | 2.76 | 6.11 | (12.26 | ) | 11.71 | 10.84 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | — | — | — | — | 0.34 | — | — | — | — | — | 0.56 | ||||||||||||||||||||||||||||||||||||
Other capital | — | — | — | — | — | — | — | (3) | 0.03 | 0.04 | — | — | — | |||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.63 | ) | (0.75 | ) | (0.84 | ) | (0.70 | ) | (0.50 | ) | (0.53 | ) | (0.71 | ) | (1.07 | ) | (0.92 | ) | (0.34 | ) | (0.19 | ) | (0.31 | ) | ||||||||||||||||||||||||
Net realized gains | (1.91 | ) | (0.07 | ) | (0.76 | ) | (0.47 | ) | (0.74 | ) | — | — | — | (1.37 | ) | (1.45 | ) | (0.68 | ) | — | ||||||||||||||||||||||||||||
Total distributions | (2.54 | ) | (0.82 | ) | (1.60 | ) | (1.17 | ) | (1.24 | ) | (0.53 | ) | (0.71 | ) | (1.07 | ) | (2.29 | ) | (1.79 | ) | (0.87 | ) | (0.31 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 32.99 | $ | 33.14 | $ | 27.69 | $ | 26.04 | $ | 28.76 | $ | 27.14 | $ | 47.49 | $ | 46.15 | $ | 44.43 | $ | 40.57 | $ | 54.62 | $ | 43.78 | ||||||||||||||||||||||||
Total return (4) | 7.41 | % | 23.07 | % | 13.27 | % | (6.00 | )% | 11.11 | % | 6.87 | % | 4.49 | % | 6.29 | %(5) | 16.09 | % | (23.36 | )% | 27.05 | % | 35.45 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 56,080 | $ | 46,399 | $ | 35,993 | $ | 36,461 | $ | 30,196 | $ | 21,716 | $ | 645,880 | $ | 761,466 | $ | 897,446 | $ | 908,812 | $ | 797,411 | $ | 65,674 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.45 | %(6) | 0.45 | % | 0.45 | % | 0.46 | % | 0.46 | % | 0.45 | % | 0.65 | %(6) | 0.65 | % | 0.66 | % | 0.66 | % | 0.66 | % | 0.66 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.36 | %(6) | 2.23 | % | 2.56 | % | 2.49 | % | 2.07 | % | 2.57 | % | 0.92 | %(6) | 2.05 | % | 2.27 | % | 1.85 | % | 2.19 | % | 1.93 | % | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 1 | % | 53 | % | 28 | % | 32 | % | 31 | % | 45 | % | — | %(8) | 18 | % | 22 | % | 70 | % | 85 | % | 83 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have remained 6.29% for SPDR S&P Emerging Markets Small Cap ETF. | |
(6) | Annualized | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(8) | Amount shown represents less than 0.5%. |
322
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
323
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR Dow Jones Global Real Estate ETF | SPDR S&P International Consumer Discretionary Sector ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 42.16 | $ | 40.56 | $ | 32.58 | $ | 36.00 | $ | 31.18 | $ | 39.33 | $ | 37.95 | $ | 27.65 | $ | 25.05 | $ | 26.90 | $ | 24.12 | $ | 22.37 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.65 | 1.16 | 1.12 | 1.16 | 1.11 | 1.19 | 0.20 | 0.68 | 0.52 | 0.47 | 0.41 | 0.43 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 1.39 | 2.21 | 7.52 | (2.00 | ) | 4.88 | (8.23 | ) | 1.32 | 10.26 | 3.11 | (1.79 | ) | 2.69 | 1.77 | |||||||||||||||||||||||||||||||||
Total from investment operations | 2.04 | 3.37 | 8.64 | (0.84 | ) | 5.99 | (7.04 | ) | 1.52 | 10.94 | 3.63 | (1.32 | ) | 3.10 | 2.20 | |||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.00 | (3) | 0.10 | 0.58 | 0.08 | 0.02 | 0.31 | (0.01 | ) | (0.02 | ) | (0.13 | ) | (0.03 | ) | 0.02 | — | |||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.63 | ) | (1.87 | ) | (1.24 | ) | (2.66 | ) | (1.19 | ) | (1.42 | ) | (0.27 | ) | (0.62 | ) | (0.51 | ) | (0.50 | ) | (0.34 | ) | (0.45 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | (0.39 | ) | — | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.63 | ) | (1.87 | ) | (1.24 | ) | (2.66 | ) | (1.19 | ) | (1.42 | ) | (0.27 | ) | (0.62 | ) | (0.90 | ) | (0.50 | ) | (0.34 | ) | (0.45 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 43.57 | $ | 42.16 | $ | 40.56 | $ | 32.58 | $ | 36.00 | $ | 31.18 | $ | 39.19 | $ | 37.95 | $ | 27.65 | $ | 25.05 | $ | 26.90 | $ | 24.12 | ||||||||||||||||||||||||
Total return (4) | 4.89 | % | 8.61 | % | 28.56 | % | (2.80 | )% | 19.71 | % | (15.97 | )% | 3.97 | % | 39.94 | % | 14.40 | % | (5.33 | )% | 13.12 | % | 10.38 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 1,097,966 | $ | 1,003,377 | $ | 543,476 | $ | 273,706 | $ | 140,388 | $ | 81,076 | $ | 19,596 | $ | 18,976 | $ | 5,529 | $ | 11,271 | $ | 18,833 | $ | 4,824 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.50 | %(5) | 0.50 | % | 0.50 | % | 0.50 | % | 0.51 | % | 0.50 | % | 0.50 | %(5) | 0.50 | % | 0.51 | % | 0.50 | % | 0.51 | % | 0.50 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 3.06 | %(5) | 2.71 | % | 2.96 | % | 3.08 | % | 3.42 | % | 4.84 | % | 1.06 | %(5) | 2.04 | % | 1.96 | % | 1.61 | % | 1.67 | % | 2.22 | % | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 2 | % | 8 | % | 8 | % | 9 | % | 7 | % | 18 | % | 2 | % | 2 | % | 5 | % | 9 | % | 11 | % | 7 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
324
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
325
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Consumer Staples Sector ETF | SPDR S&P International Energy Sector ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 38.89 | $ | 34.52 | $ | 29.60 | $ | 29.80 | $ | 26.31 | $ | 25.80 | $ | 25.07 | $ | 25.31 | $ | 22.46 | $ | 24.52 | $ | 25.48 | $ | 25.07 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.35 | 0.92 | 0.82 | 0.88 | 0.69 | 0.57 | 0.33 | 0.81 | 0.79 | 0.70 | 0.65 | 0.76 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 0.88 | 4.25 | 4.90 | (0.37 | ) | 3.39 | 0.50 | 1.53 | (0.28 | ) | 2.89 | (2.10 | ) | (1.01 | ) | 0.34 | ||||||||||||||||||||||||||||||||
Total from investment operations | 1.23 | 5.17 | 5.72 | 0.51 | 4.08 | 1.07 | 1.86 | 0.53 | 3.68 | (1.40 | ) | (0.36 | ) | 1.10 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | — | 0.04 | (0.00 | )(3) | 0.15 | 0.04 | — | — | 0.03 | (0.02 | ) | 0.00 | (3) | 0.04 | 0.04 | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.30 | ) | (0.84 | ) | (0.80 | ) | (0.86 | ) | (0.63 | ) | (0.56 | ) | (0.37 | ) | (0.80 | ) | (0.81 | ) | (0.66 | ) | (0.64 | ) | (0.72 | ) | ||||||||||||||||||||||||
Return of capital | — | — | — | — | — | — | — | — | — | — | — | (0.01 | ) | |||||||||||||||||||||||||||||||||||
Total distributions | (0.30 | ) | (0.84 | ) | �� | (0.80 | ) | (0.86 | ) | (0.63 | ) | (0.56 | ) | (0.37 | ) | (0.80 | ) | (0.81 | ) | (0.66 | ) | (0.64 | ) | (0.73 | ) | |||||||||||||||||||||||
Net asset value, end of period | $ | 39.82 | $ | 38.89 | $ | 34.52 | $ | 29.60 | $ | 29.80 | $ | 26.31 | $ | 26.56 | $ | 25.07 | $ | 25.31 | $ | 22.46 | $ | 24.52 | $ | 25.48 | ||||||||||||||||||||||||
Total return (4) | 3.17 | % | 15.20 | % | 19.51 | % | 2.08 | % | 15.87 | % | 4.48 | % | 7.47 | % | 2.35 | % | 16.44 | % | (6.14 | )% | (1.18 | )% | 5.09 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 37,825 | $ | 36,941 | $ | 18,986 | $ | 19,239 | $ | 14,900 | $ | 5,262 | $ | 13,280 | $ | 12,535 | $ | 11,389 | $ | 12,355 | $ | 12,259 | $ | 6,369 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.50 | %(5) | 0.50 | % | 0.50 | % | 0.51 | % | 0.51 | % | 0.50 | % | 0.50 | %(5) | 0.50 | % | 0.50 | % | 0.51 | % | 0.51 | % | 0.50 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.80 | %(5) | 2.47 | % | 2.53 | % | 2.81 | % | 2.50 | % | 2.58 | % | 2.62 | %(5) | 3.30 | % | 3.16 | % | 2.55 | % | 2.63 | % | 3.64 | % | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 1 | % | 4 | % | 7 | % | 2 | % | 5 | % | 8 | % | 9 | % | 2 | % | 6 | % | 4 | % | 11 | % | 6 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
326
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
327
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Financial Sector ETF | SPDR S&P International Health Care Sector ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | �� | ||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 21.76 | $ | 17.67 | $ | 15.47 | $ | 19.60 | $ | 21.39 | $ | 21.48 | $ | 41.71 | $ | 35.15 | $ | 29.55 | $ | 29.46 | $ | 28.50 | $ | 28.38 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.29 | 0.70 | 0.64 | 0.69 | 0.55 | 0.46 | 0.48 | 0.77 | 0.86 | 0.74 | 0.64 | 0.57 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 1.07 | 4.27 | 2.15 | (4.09 | ) | (1.83 | ) | (0.11 | ) | 5.21 | 6.53 | 5.57 | 0.04 | 0.96 | 0.11 | |||||||||||||||||||||||||||||||||
Total from investment operations | 1.36 | 4.97 | 2.79 | (3.40 | ) | (1.28 | ) | 0.35 | 5.69 | 7.30 | 6.43 | 0.78 | 1.60 | 0.68 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | (0.20 | ) | (0.11 | ) | (0.07 | ) | (0.01 | ) | 0.04 | 0.01 | (0.00 | )(3) | 0.07 | (0.01 | ) | 0.05 | (0.01 | ) | — | |||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.64 | ) | (0.77 | ) | (0.52 | ) | (0.72 | ) | (0.55 | ) | (0.45 | ) | (0.46 | ) | (0.81 | ) | (0.82 | ) | (0.74 | ) | (0.63 | ) | (0.56 | ) | ||||||||||||||||||||||||
Total distributions | (0.64 | ) | (0.77 | ) | (0.52 | ) | (0.72 | ) | (0.55 | ) | (0.45 | ) | (0.46 | ) | (0.81 | ) | (0.82 | ) | (0.74 | ) | (0.63 | ) | (0.56 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 22.28 | $ | 21.76 | $ | 17.67 | $ | 15.47 | $ | 19.60 | $ | 21.39 | $ | 46.94 | $ | 41.71 | $ | 35.15 | $ | 29.55 | $ | 29.46 | $ | 28.50 | ||||||||||||||||||||||||
Total return (4) | 5.35 | % | 27.98 | % | 18.02 | % | (17.99 | )% | (5.60 | )% | 2.35 | % | 13.67 | % | 21.14 | % | 22.03 | % | 2.69 | % | 5.71 | % | 2.78 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 11,142 | $ | 6,528 | $ | 3,534 | $ | 7,735 | $ | 8,821 | $ | 5,348 | $ | 58,672 | $ | 60,479 | $ | 28,123 | $ | 19,207 | $ | 10,310 | $ | 5,701 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.50 | %(5) | 0.50 | % | 0.50 | % | 0.51 | % | 0.51 | % | 0.50 | % | 0.50 | %(5) | 0.50 | % | 0.50 | % | 0.50 | % | 0.51 | % | 0.50 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 2.60 | %(5) | 3.50 | % | 3.94 | % | 3.47 | % | 2.85 | % | 2.88 | % | 2.16 | %(5) | 1.98 | % | 2.70 | % | 2.37 | % | 2.25 | % | 2.35 | % | ||||||||||||||||||||||||
Portfolio turnover rate (6) | — | %(7) | 2 | % | 6 | % | 4 | % | 6 | % | 25 | % | 6 | % | 8 | % | 14 | % | 5 | % | 29 | % | 0 | %(7) |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Amount is less than $0.005 per share. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(7) | Amount shown represents less than 0.5%. |
328
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
329
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Industrial Sector ETF | SPDR S&P International Materials Sector ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 30.53 | $ | 24.67 | $ | 22.46 | $ | 25.65 | $ | 23.26 | $ | 22.07 | $ | 23.33 | $ | 23.68 | $ | 22.83 | $ | 26.34 | $ | 23.05 | $ | 21.54 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.27 | 0.63 | 0.55 | 0.62 | 0.41 | 0.47 | 0.14 | 0.44 | 0.42 | 0.42 | 0.32 | 0.27 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 1.40 | 6.18 | 2.32 | (3.23 | ) | 2.27 | 1.25 | 0.26 | (0.31 | ) | 0.87 | (3.51 | ) | 3.25 | 1.41 | |||||||||||||||||||||||||||||||||
Total from investment operations | 1.67 | 6.81 | 2.87 | (2.61 | ) | 2.68 | 1.72 | 0.40 | 0.13 | 1.29 | (3.09 | ) | 3.57 | 1.68 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | (0.07 | ) | (0.21 | ) | (0.10 | ) | (0.01 | ) | 0.06 | — | — | (0.01 | ) | 0.01 | (0.03 | ) | (0.02 | ) | 0.15 | |||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.32 | ) | (0.74 | ) | (0.56 | ) | (0.57 | ) | (0.35 | ) | (0.53 | ) | (0.34 | ) | (0.47 | ) | (0.45 | ) | (0.39 | ) | (0.26 | ) | (0.32 | ) | ||||||||||||||||||||||||
Total distributions | (0.32 | ) | (0.74 | ) | (0.56 | ) | (0.57 | ) | (0.35 | ) | (0.53 | ) | (0.34 | ) | (0.47 | ) | (0.45 | ) | (0.39 | ) | (0.26 | ) | (0.32 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 31.81 | $ | 30.53 | $ | 24.67 | $ | 22.46 | $ | 25.65 | $ | 23.26 | $ | 23.39 | $ | 23.33 | $ | 23.68 | $ | 22.83 | $ | 26.34 | $ | 23.05 | ||||||||||||||||||||||||
Total return (3) | 5.26 | % | 27.19 | % | 12.53 | % | (10.62 | )% | 11.94 | % | 8.35 | % | 1.71 | % | 0.43 | % | 5.79 | % | (12.12 | )% | 15.53 | % | 8.87 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 27,043 | $ | 13,740 | $ | 8,635 | $ | 20,211 | $ | 17,955 | $ | 4,653 | $ | 9,355 | $ | 9,333 | $ | 11,842 | $ | 19,403 | $ | 22,387 | $ | 9,221 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.50 | %(4) | 0.50 | % | 0.50 | % | 0.50 | % | 0.52 | % | 0.50 | % | 0.50 | %(4) | 0.50 | % | 0.50 | % | 0.51 | % | 0.52 | % | 0.50 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.77 | %(4) | 2.29 | % | 2.27 | % | 2.22 | % | 1.74 | % | 2.59 | % | 1.22 | %(4) | 1.90 | % | 1.77 | % | 1.42 | % | 1.31 | % | 1.47 | % | ||||||||||||||||||||||||
Portfolio turnover rate (5) | 3 | % | 7 | % | 11 | % | 0 | %(6) | 20 | % | 3 | % | 14 | % | 8 | % | 0 | %(6) | 1 | % | 9 | % | 7 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(3) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. | |
(6) | Amount shown represents less than 0.5%. |
330
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
331
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Technology Sector ETF | SPDR S&P International Telecommunications Sector ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | (Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 30.02 | $ | 24.18 | $ | 22.00 | $ | 24.76 | $ | 24.58 | $ | 22.27 | $ | 26.89 | $ | 22.82 | $ | 22.65 | $ | 24.30 | $ | 23.58 | $ | 22.71 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) (1) | 0.07 | 0.31 | 0.29 | 0.34 | 0.29 | 0.24 | 2.64 | 0.98 | 1.45 | 1.22 | (2) | 1.05 | 0.97 | |||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 2.05 | 5.89 | 2.37 | (2.68 | ) | 0.14 | 2.32 | 0.02 | 4.01 | 0.10 | (1.54 | ) | 0.69 | 0.86 | ||||||||||||||||||||||||||||||||||
Total from investment operations | 2.12 | 6.20 | 2.66 | (2.34 | ) | 0.43 | 2.56 | 2.66 | 4.99 | 1.55 | (0.32 | ) | 1.74 | 1.83 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.00 | (4) | (0.06 | ) | (0.03 | ) | 0.00 | (4) | 0.01 | 0.01 | (0.19 | ) | 0.01 | (0.01 | ) | 0.01 | 0.02 | 0.02 | ||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.28 | ) | (0.30 | ) | (0.31 | ) | (0.33 | ) | (0.25 | ) | (0.26 | ) | (2.67 | ) | (0.93 | ) | (1.37 | ) | (1.34 | ) | (1.04 | ) | (0.98 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | (0.14 | ) | (0.09 | ) | (0.01 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Total distributions | (0.28 | ) | (0.30 | ) | (0.45 | ) | (0.42 | ) | (0.26 | ) | (0.26 | ) | (2.67 | ) | (0.93 | ) | (1.37 | ) | (1.34 | ) | (1.04 | ) | (0.98 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 31.86 | $ | 30.02 | $ | 24.18 | $ | 22.00 | $ | 24.76 | $ | 24.58 | $ | 26.69 | $ | 26.89 | $ | 22.82 | $ | 22.65 | $ | 24.30 | $ | 23.58 | ||||||||||||||||||||||||
Total return (5) | 7.03 | % | 25.54 | % | 12.06 | % | (9.74 | )% | 1.86 | % | 11.81 | % | 9.15 | % | 22.68 | % | 7.23 | % | (1.66 | )%(2) | 8.09 | % | 8.68 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 14,335 | $ | 12,007 | $ | 10,881 | $ | 18,702 | $ | 21,044 | $ | 11,062 | $ | 30,695 | $ | 33,618 | $ | 25,098 | $ | 12,458 | $ | 15,795 | $ | 9,432 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.50 | %(6) | 0.50 | % | 0.50 | % | 0.51 | % | 0.52 | % | 0.51 | % | 0.50 | %(6) | 0.50 | % | 0.50 | % | 0.51 | % | 0.52 | % | 0.50 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.48 | %(6) | 1.13 | % | 1.21 | % | 1.27 | % | 1.20 | % | 1.23 | % | 18.52 | %(6) | 4.18 | % | 6.48 | % | 4.84 | %(2) | 4.62 | % | 4.76 | % | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 1 | % | 13 | % | 6 | % | 1 | % | 10 | % | 5 | % | 13 | % | 7 | % | 3 | % | 8 | % | 6 | % | 5 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Net investment income per share and the ratio of net investment income to average net assets reflect receipt of special dividends from portfolio holdings. The resulting increase to net investment income amounted to $0.09 per share and 0.34% of average net assets. If the special dividends were not received during the year ended September 30, 2011, the total return would have been (2.00)%. | |
(3) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(4) | Amount is less than $0.005 per share. | |
(5) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(6) | Annualized | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
332
This page intentionally left blank. The content of this page is part of a ‘Double Page Spread’ table and appears on the previous page.
333
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Utilities Sector ETF | ||||||||||||||||||||||||
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
3/31/14 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | 9/30/13 | 9/30/12 | 9/30/11 | 9/30/10 | 9/30/09 | |||||||||||||||||||
Net asset value, beginning of period | $ | 17.72 | $ | 16.39 | $ | 17.38 | $ | 20.55 | $ | 22.78 | $ | 24.95 | ||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (1) | 0.19 | 0.65 | 0.85 | 0.92 | (2) | 0.82 | 0.86 | |||||||||||||||||
Net realized and unrealized gain (loss) (3) | 1.41 | 1.33 | (1.24 | ) | (3.20 | ) | (2.43 | ) | (2.19 | ) | ||||||||||||||
Total from investment operations | 1.60 | 1.98 | (0.39 | ) | (2.28 | ) | (1.61 | ) | (1.33 | ) | ||||||||||||||
Net equalization credits and charges (1) | 0.01 | 0.06 | 0.14 | 0.02 | 0.04 | — | ||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.20 | ) | (0.71 | ) | (0.74 | ) | (0.91 | ) | (0.66 | ) | (0.81 | ) | ||||||||||||
Net realized gains | — | — | — | — | — | (0.03 | ) | |||||||||||||||||
Total distributions | (0.20 | ) | (0.71 | ) | (0.74 | ) | (0.91 | ) | (0.66 | ) | (0.84 | ) | ||||||||||||
Net asset value, end of period | $ | 19.13 | $ | 17.72 | $ | 16.39 | $ | 17.38 | $ | 20.55 | $ | 22.78 | ||||||||||||
Total return (4) | 9.18 | % | 12.79 | % | (1.30 | )% | (11.45 | )%(2) | (6.71 | )% | (4.96 | )% | ||||||||||||
Net assets, end of period (in 000’s) | $ | 63,144 | $ | 39,868 | $ | 25,403 | $ | 9,561 | $ | 8,221 | $ | 4,557 | ||||||||||||
Ratio of expenses to average net assets | 0.50 | %(5) | 0.50 | % | 0.50 | % | 0.51 | % | 0.52 | % | 0.50 | % | ||||||||||||
Ratio of net investment income (loss) to average net assets | 2.11 | %(5) | 3.87 | % | 5.15 | % | 4.49 | %(2) | 3.94 | % | 4.23 | % | ||||||||||||
Portfolio turnover rate (6) | 4 | % | 1 | % | 8 | % | 2 | % | 5 | % | 7 | % |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Net investment income per share and the ratio of net investment income to average net assets reflect receipt of special dividends from portfolio holdings. The resulting increase to net investment income amounted to $0.08 per share and 0.39% of average net assets. If the special dividends were not received during the year ended September 30, 2011, the total return would have been (11.75)%. | |
(3) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. | |
(4) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
334
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS
NOTES TO FINANCIAL STATEMENTS
March 31, 2014 (Unaudited)
1. | Organization |
SPDR Index Shares Funds (the “Trust”), which is registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end investment management company that was organized as a Massachusetts business trust on February 14, 2002.
As of March 31, 2014, the Trust offered thirty-eight (38) portfolios, each of which represents a separate series of beneficial interest in the Trust (each referred to as a “Fund” and collectively the “Funds”). The financial statements herein relate to the following Funds: SPDR STOXX Europe 50 ETF, SPDR EURO STOXX 50 ETF, SPDR S&P Emerging Asia Pacific ETF, SPDR S&P Small Cap Emerging Asia Pacific ETF, SPDR S&P Russia ETF, SPDR S&P China ETF, SPDR S&P Emerging Markets ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR S&P BRIC 40 ETF, SPDR S&P Emerging Europe ETF, SPDR S&P Emerging Latin America ETF, SPDR S&P Emerging Middle East & Africa ETF, SPDR S&P World ex-US ETF, SPDR S&P International Small Cap ETF, SPDR Dow Jones International Real Estate ETF, SPDR S&P Global Infrastructure ETF, SPDR S&P Global Natural Resources ETF, SPDR MSCI ACWI ex-US ETF, SPDR MSCI ACWI IMI ETF, SPDR MSCI EM 50 ETF, SPDR MSCI EM Beyond BRIC ETF, SPDR Russell/Nomura PRIME Japan ETF, SPDR Russell/Nomura Small Cap Japan ETF, SPDR S&P Global Dividend ETF, SPDR S&P International Dividend ETF, SPDR S&P International Mid Cap ETF, SPDR S&P Emerging Markets Small Cap ETF, SPDR Dow Jones Global Real Estate ETF, SPDR S&P International Consumer Discretionary Sector ETF, SPDR S&P International Consumer Staples Sector ETF, SPDR S&P International Energy Sector ETF, SPDR S&P International Financial Sector ETF, SPDR S&P International Health Care Sector ETF, SPDR S&P International Industrial Sector ETF, SPDR S&P International Materials Sector ETF, SPDR S&P International Technology Sector ETF, SPDR S&P International Telecommunications Sector ETF and SPDR S&P International Utilities Sector ETF.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this could involve future claims that may be made against the Trust that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote.
Each Fund’s investments are exposed to risks, such as market risk. Due to the level of risk associated with certain investments it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
An investment in a Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The value of each Fund’s shares will decline, more or less, in correlation with any decline in the value of the Fund’s benchmark index. The values of equity securities could decline generally or could underperform other investments. Generally, a Fund will not sell an equity security because the security’s issuer is in financial trouble, unless that security is removed from the Fund’s benchmark index.
2. | Summary of Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. These financial statements are presented in United States dollars.
Security Valuation
The value of each Fund’s portfolio securities, including exchange-traded futures contracts, is based on the securities’ last sale price on local markets when available. Investments in open-end investment companies are valued at their net asset value each business day. If a security’s market price is not readily available or does not otherwise accurately reflect the fair value of the security, the security will be valued by another method that the Board of Trustees of the
335
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Trust (the “Board”) believes will better reflect fair value in accordance with the Trust’s valuation policies and procedures. The Board has delegated implementation of procedures concerning securities valuation to State Street Bank and Trust Company as Accounting Agent, under which an Oversight Committee makes determinations as to whether market quotations are not readily available or do not otherwise accurately reflect the fair value of the security. The Oversight Committee, or a subgroup thereof, subject to oversight by the Board, may use fair value pricing in a variety of circumstances, including but not limited to, situations when trading in a security has been suspended or halted. Fair value pricing involves subjective judgments and it is possible that the fair value determination for a security is materially different than the value that could be received on the sale of the security.
The Funds continue to follow the authoritative guidance for fair value measurements and the fair value option for financial assets and financial liabilities. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The guidance establishes three levels of inputs that may be used to measure fair value:
• | Level 1 — quoted prices in active markets for identical investments |
• | Level 2 — other significant observable inputs (including, but not limited to, quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments) |
Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which the Funds’ net assets are computed and that may materially affect the value of the Funds’ investments). Examples of events that may be “significant events” are government actions, natural disasters, armed conflict, acts of terrorism, and significant market fluctuations.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s net asset value and the prices used by the Funds’ benchmark index, which, in turn, could result in a difference between the Fund’s performance and the performance of the Fund’s benchmark index. The inputs or methodology used for valuation are not necessarily an indication of the risks associated with investing in those investments.
The type of inputs used to value each security is identified in the breakdown of the Funds’ investments by industry, which appears in the Portfolio Summary.
The following table summarizes the inputs used in valuing the Funds’ investments as of March 31, 2014:
Level 2 — | Level 3 — | |||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||
Fund | Prices | Inputs | Inputs | Total | ||||||||||||
SPDR STOXX Europe 50 ETF | $ | 234,865,570 | $ | — | $ | — | $ | 234,865,570 | ||||||||
SPDR EURO STOXX 50 ETF | 5,248,529,704 | — | — | 5,248,529,704 | ||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 438,291,190 | — | — | * | 438,291,190 | |||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 4,384,226 | — | — | * | 4,384,226 | |||||||||||
SPDR S&P Russia ETF | 21,060,042 | — | — | 21,060,042 | ||||||||||||
SPDR S&P China ETF | 885,948,379 | — | ** | — | * | 885,948,379 | ||||||||||
SPDR S&P Emerging Markets ETF | 215,820,579 | 4,225 | — | * | 215,824,804 | |||||||||||
SPDR S&P Emerging Markets Dividend ETF | 556,118,451 | — | — | 556,118,451 | ||||||||||||
SPDR S&P BRIC 40 ETF | 168,626,445 | — | — | 168,626,445 | ||||||||||||
SPDR S&P Emerging Europe ETF | 79,252,198 | — | — | 79,252,198 |
336
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Level 2 — | Level 3 — | |||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||
Fund | Prices | Inputs | Inputs | Total | ||||||||||||
SPDR S&P Emerging Latin America ETF | $ | 63,473,105 | $ | 6,941 | $ | — | * | $ | 63,480,046 | |||||||
SPDR S&P Emerging Middle East & Africa ETF | 78,392,527 | — | — | 78,392,527 | ||||||||||||
SPDR S&P World ex-US ETF | 942,039,341 | 85,720 | — | 942,125,061 | ||||||||||||
SPDR S&P International Small Cap ETF | 966,775,120 | 453,135 | — | * | 967,228,255 | |||||||||||
SPDR Dow Jones International Real Estate ETF | 4,332,566,874 | — | ** | — | 4,332,566,874 | |||||||||||
SPDR S&P Global Infrastructure ETF | 109,583,394 | — | — | 109,583,394 | ||||||||||||
SPDR S&P Global Natural Resources ETF | 564,441,993 | — | — | 564,441,993 | ||||||||||||
SPDR MSCI ACWI ex-US ETF | 577,695,596 | — | — | 577,695,596 | ||||||||||||
SPDR MSCI ACWI IMI ETF | 14,955,371 | — | — | 14,955,371 | ||||||||||||
SPDR MSCI EM 50 ETF | 5,358,651 | — | — | 5,358,651 | ||||||||||||
SPDR MSCI EM Beyond BRIC ETF | 6,258,356 | — | — | 6,258,356 | ||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | 144,048,692 | — | — | 144,048,692 | ||||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | 86,295,491 | — | ** | — | 86,295,491 | |||||||||||
SPDR S&P Global Dividend ETF | 19,527,825 | — | — | 19,527,825 | ||||||||||||
SPDR S&P International Dividend ETF | 1,602,614,529 | — | — | 1,602,614,529 | ||||||||||||
SPDR S&P International Mid Cap ETF | 63,109,555 | — | — | 63,109,555 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 680,100,458 | 355,460 | — | * | 680,455,918 | |||||||||||
SPDR Dow Jones Global Real Estate ETF | 1,155,241,454 | — | ** | — | 1,155,241,454 | |||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 20,033,998 | — | — | 20,033,998 | ||||||||||||
SPDR S&P International Consumer Staples Sector ETF | 39,419,025 | — | — | 39,419,025 | ||||||||||||
SPDR S&P International Energy Sector ETF | 15,509,713 | — | — | 15,509,713 | ||||||||||||
SPDR S&P International Financial Sector ETF | 11,450,294 | — | — | 11,450,294 | ||||||||||||
SPDR S&P International Health Care Sector ETF | 59,125,279 | — | — | 59,125,279 | ||||||||||||
SPDR S&P International Industrial Sector ETF | 27,847,138 | — | — | 27,847,138 | ||||||||||||
SPDR S&P International Materials Sector ETF | 10,305,573 | — | — | 10,305,573 | ||||||||||||
SPDR S&P International Technology Sector ETF | 14,752,868 | — | — | 14,752,868 | ||||||||||||
SPDR S&P International Telecommunications Sector ETF | 34,985,940 | — | — | 34,985,940 | ||||||||||||
SPDR S&P International Utilities Sector ETF | 65,828,690 | — | — | 65,828,690 |
* | Fund held Level 3 securities that were valued at $0 at March 31, 2014. | |
** | Fund held Level 2 securities that were valued at $0 at March 31, 2014. |
Level 2 — | Level 3 — | |||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||
Fund — Other Financial Instruments* | Prices | Inputs | Inputs | Total | ||||||||||||
SPDR S&P Emerging Markets ETF | $ | 24,918 | $ | — | $ | — | $ | 24,918 |
* | Other Financial Instruments are derivative instruments not reflected in the Schedules of Investments, such as futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
There were no material transfers between levels for the six months ended March 31, 2014. The transfers that did occur were the result of fair value pricing using significant observable inputs for Level 2 securities and significant unobservable inputs for Level 3 securities.
337
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Investment Income
Dividend income is recorded on the ex-dividend date, except for certain foreign dividends for which the Funds may not record until they receive notice of the dividend which could result in the Funds recording on pay date. Interest income is recorded on the accrual basis. The value of certain additional securities received as dividend payments is recorded as income and as an increase to the cost basis of such securities.
Expenses
Advisory fees and other expenses, which are directly identifiable to a specific Fund, are applied to that Fund. Trustees’ fees and other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds.
Equalization
Certain Funds follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.
Effective February 23, 2010, SPDR S&P Emerging Asia Pacific ETF, SPDR S&P Russia ETF, SPDR S&P China ETF, SPDR S&P Emerging Markets ETF, SPDR S&P BRIC 40 ETF, SPDR S&P Emerging Europe ETF, SPDR S&P Emerging Latin America ETF, SPDR S&P Emerging Middle East & Africa ETF, SPDR S&P World ex-US ETF, SPDR S&P International Small Cap ETF, SPDR S&P Global Infrastructure ETF, SPDR MSCI ACWI ex-US ETF, SPDR Russell/Nomura PRIME Japan ETF, SPDR Russell/Nomura Small Cap Japan ETF, SPDR S&P International Mid Cap ETF and SPDR S&P Emerging Markets Small Cap ETF no longer utilized equalization.
Investment Transactions
Investment transactions are recorded on the trade date. Realized gains and losses from the sale or disposition of securities and foreign exchange transactions are recorded on the identified cost basis. Corporate actions (including cash dividends) are recorded net of foreign tax withholdings on the ex-dividend date.
Foreign Currency Translation and Foreign Investments
The accounting records of the Funds are maintained in U.S. dollars. Portfolio securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars at the prevailing rates of exchange at period end. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of transactions. The effects of changes in foreign currency exchange rates on portfolio investments are included in the net realized and unrealized gains and losses on investments and foreign currency transactions on the Statements of Operations. Net gains and losses on foreign currency transactions include disposition of foreign currencies, and currency gains and losses between the accrual and receipt dates of portfolio investment income and between the trade and settlement dates of portfolio investment transactions.
Investing in securities of foreign companies and foreign governments involves special risks and considerations not typically associated with investing in U.S. companies and securities of the U.S. government. These risks include revaluation of currencies and the risk of expropriation. Moreover, the markets for securities of many foreign companies and foreign governments may be less liquid and the prices of such securities may be more volatile than those of comparable U.S. companies and the U.S. government.
Some foreign markets in which the Funds invest are considered emerging markets. Investment in these emerging markets subjects a Fund to a greater risk of loss than investments in a developed market. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, higher levels of inflation, deflation or currency devaluation, greater risk of market shut down, and more governmental limitations on foreign investment policy than those typically found in a developed market.
338
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Futures
SPDR S&P Emerging Markets ETF used futures contracts during the period to meet the Fund’s objectives. The Fund employs strategies in differing combinations to permit it to increase, decrease or change the level of exposure to market risk factors. The achievement of any strategy relating to derivatives depends on analysis of various risk factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
Equity risk relates to change in value of equity securities such as common stocks due to general market conditions, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, or adverse investor sentiment. Equity securities generally have greater price volatility than fixed income securities.
Futures contracts generally provide for the future sale by one party and purchase by another party of a specified commodity at a specified future time and at a specified price. Stock index futures contracts are settled periodically with a payment by one party to the other of a cash amount based on the difference between the level of the stock index specified in the contract from one day to the next. Futures contracts are standardized as to maturity date and underlying instrument and are traded on futures exchanges.
Futures traders are required to make a good faith margin deposit in cash or U.S. government securities with a broker or custodian to initiate and maintain open positions in futures contracts. A margin deposit is intended to assure completion of the contract (delivery or acceptance of the underlying commodity or payment of the cash settlement amount) if it is not terminated prior to the specified delivery date. Brokers may establish deposit requirements which are higher than the exchange minimums. Futures contracts are customarily purchased and sold on margin deposits which may range upward from less than 5% of the value of the contract being traded.
After a futures contract position is opened, the value of the contract is marked to market daily. If the futures contract price changes to the extent that the margin on deposit does not satisfy margin requirements, payment of additional “variation” margin will be required. Conversely, change in the contract value may reduce the required margin, resulting in a repayment of excess margin to the contract holder. Variation margin payments are made to and from the futures broker for as long as the contract remains open. In such case, a Fund would expect to earn interest income on its margin deposits. Closing out an open futures position is done by taking an opposite position (“buying” a contract which has previously been “sold” or “selling” a contract previously “purchased”) in an identical contract to terminate the position. Brokerage commissions are incurred when a futures contract position is opened or closed.
Each Fund may use exchange-traded futures, together with positions in cash and money market instruments, to simulate full investment in its underlying benchmark index. Under such circumstances, the Adviser (as defined in Note 3) may seek to utilize other instruments that it believes to be correlated to the underlying index components or a subset of the components.
Certain risks may arise upon entering into futures contracts, including the risk that an illiquid market will limit the Fund’s ability to close out a futures contract prior to the settlement date and that a change in the value of a futures contract may not correlate exactly with the changes in the value of the underlying hedged security, index or currency. Risk of loss may exceed amounts recognized in the Statements of Assets and Liabilities.
A summary of the open futures contracts as of March 31, 2014 is included in a table following the Fund’s Schedule of Investments.
339
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
The following tables summarize the value of the Fund’s derivative instruments as of March 31, 2014 and the related location in the accompanying Statements of Assets and Liabilities and Statements of Operations, presented by primary underlying risk exposure:
Asset Derivatives | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR S&P Emerging Markets ETF (a)(b) | Futures Contract | $ | — | $ | — | $ | — | $ | 71,112 | $ | — | $ | — | $ | 71,112 |
(a) | Initial margin deposit on futures of $32,725 | |
(b) | Receivable from broker — variation margin on open futures contracts of $38,387 |
Realized Gain (Loss) | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR S&P Emerging Markets ETF (a) | Futures Contract | $ | — | $ | — | $ | — | $ | 49,280 | $ | — | $ | — | $ | 49,280 |
(a) | Net realized gain/loss on Futures. |
Change In Appreciation (Depreciation) | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR S&P Emerging Markets ETF (a) | Futures Contract | $ | — | $ | — | $ | — | $ | 62,278 | $ | — | $ | — | $ | 62,278 |
(a) | Net change in unrealized appreciation (depreciation) on Futures. |
The volume of derivatives held at period end is indicative of the volume held throughout the year.
Federal Income Tax
The Funds have qualified and intend to continue to qualify for and elect treatment as “regulated investment companies” under Subchapter M of the Internal Revenue Code of 1986, as amended. By so qualifying and electing, each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. In addition, by distributing during each calendar year substantially all of their net investment income and capital gains, if any, the Funds will not be subject to federal excise tax. Income and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. generally accepted accounting principles. These book-tax differences are primarily due to differing treatments for tax equalization, in-kind transactions, foreign currencies, losses deferred due to wash sales and the realization of unrealized gains on investments in passive foreign investment companies.
Additionally, based on the Funds’ understanding of the tax rules and rates related to income, gains and transactions for the foreign jurisdictions in which the applicable Funds invest, the Funds will provide for foreign taxes and, where appropriate, deferred foreign taxes.
Accounting Standards Codification 740, Income Taxes (“ASC 740”) established financial accounting and disclosure requirements for recognition and measurement of tax positions taken, and whether those tax positions are more likely than not to be sustained upon examination by the applicable taxing authority based on the technical merits of the position. The Funds have not recognized any liabilities for unrecognized tax benefits, related to the current year or prior years impacting the NAVs of the Funds. The Funds may be subject to potential examinations by certain taxing
340
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
authorities for all open tax years (the current and prior years, as applicable). Any potential tax liability is also subject to ongoing interpretation of laws by taxing authorities. The tax treatment of the Funds’ investments may change over time based on factors including, but not limited to new tax laws, regulations, and interpretations thereof.
For the six months ended March 31, 2014, the following Funds reclassified non-taxable security gains and losses realized on the in-kind redemption of Creation Units (Note 4) as an increase or decrease to paid in capital in the Statements of Assets and Liabilities as follows:
Net Gain (Loss) | ||||
Reclassified to | ||||
Paid in Capital | ||||
SPDR STOXX Europe 50 ETF | $ | — | ||
SPDR EURO STOXX 50 ETF | 78,987,945 | |||
SPDR S&P Emerging Asia Pacific ETF | 2,261,353 | |||
SPDR S&P Small Cap Emerging Asia Pacific ETF | — | |||
SPDR S&P Russia ETF | (5,411,816 | ) | ||
SPDR S&P China ETF | 25,095,947 | |||
SPDR S&P Emerging Markets ETF | 1,789,879 | |||
SPDR S&P Emerging Markets Dividend ETF | 205,020 | |||
SPDR S&P BRIC 40 ETF | (2,923,367 | ) | ||
SPDR S&P Emerging Europe ETF | (223,717 | ) | ||
SPDR S&P Emerging Latin America ETF | (3,336,831 | ) | ||
SPDR S&P Emerging Middle East & Africa ETF | (116,874 | ) | ||
SPDR S&P World ex-US ETF | 13,117,211 | |||
SPDR S&P International Small Cap ETF | 990,293 | |||
SPDR Dow Jones International Real Estate ETF | 15,236,264 | |||
SPDR S&P Global Infrastructure ETF | — | |||
SPDR S&P Global Natural Resources ETF | 1,060,188 | |||
SPDR MSCI ACWI ex-US ETF | 3,720,993 | |||
SPDR MSCI ACWI IMI ETF | — | |||
SPDR MSCI EM 50 ETF | — | |||
SPDR MSCI EM Beyond BRIC ETF | 74,458 | |||
SPDR Russell/Nomura PRIME Japan ETF | 1,776,805 | |||
SPDR Russell/Nomura Small Cap Japan ETF | 3,060,290 | |||
SPDR S&P Global Dividend ETF | — | |||
SPDR S&P International Dividend ETF | 5,466,531 | |||
SPDR S&P International Mid Cap ETF | — | |||
SPDR S&P Emerging Markets Small Cap ETF | (947,177 | ) | ||
SPDR Dow Jones Global Real Estate ETF | 14,927,585 | |||
SPDR S&P International Consumer Discretionary Sector ETF | 1,694,456 | |||
SPDR S&P International Consumer Staples Sector ETF | — | |||
SPDR S&P International Energy Sector ETF | — | |||
SPDR S&P International Financial Sector ETF | — | |||
SPDR S&P International Health Care Sector ETF | 2,550,569 | |||
SPDR S&P International Industrial Sector ETF | — | |||
SPDR S&P International Materials Sector ETF | — | |||
SPDR S&P International Technology Sector ETF | — |
341
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Net Gain (Loss) | ||||
Reclassified to | ||||
Paid in Capital | ||||
SPDR S&P International Telecommunications Sector ETF | $ | 2,136,955 | ||
SPDR S&P International Utilities Sector ETF | — |
At March 31, 2014, the Funds had capital loss carryforwards which may be utilized to offset any net realized capital gains expiring September 30:
Non-Expiring — | Non-Expiring — | |||||||||||||||||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | Short Term | Long Term | ||||||||||||||||||||||
SPDR STOXX Europe 50 ETF | $ | — | $ | 5,783,115 | $ | 6,195,941 | $ | 2,032,222 | $ | — | $ | 302,813 | $ | 8,893,475 | ||||||||||||||
SPDR EURO STOXX 50 ETF | — | 6,389,360 | 14,945,357 | 8,709,645 | — | 6,321,977 | 89,452,480 | |||||||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | — | — | — | — | — | 792,469 | 21,972,832 | |||||||||||||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | — | — | — | — | — | — | — | |||||||||||||||||||||
SPDR S&P Russia ETF | — | — | — | — | — | 1,483,229 | 1,684,065 | |||||||||||||||||||||
SPDR S&P China ETF | — | 2,685,375 | 3,455,043 | 20,718,358 | — | 9,056,337 | 40,079,546 | |||||||||||||||||||||
SPDR S&P Emerging Markets ETF | — | — | — | — | — | — | 5,546,170 | |||||||||||||||||||||
SPDR S&P Emerging Markets Dividend ETF | — | — | — | 362,314 | — | 37,756,485 | 22,543,452 | |||||||||||||||||||||
SPDR S&P BRIC 40 ETF | — | 399,946 | 37,661,979 | 9,992,324 | — | 4,342,182 | 32,295,948 | |||||||||||||||||||||
SPDR S&P Emerging Europe ETF | — | 5,912,354 | 8,992,073 | 9,348,438 | — | 973,646 | 7,553,702 | |||||||||||||||||||||
SPDR S&P Emerging Latin America ETF | — | 3,111,521 | 3,011,913 | 2,259,987 | — | 2,864,204 | 5,756,728 | |||||||||||||||||||||
SPDR S&P Emerging Middle East & Africa ETF | — | 1,967,866 | 10,818,456 | 1,720,229 | — | 580,550 | 7,125,373 | |||||||||||||||||||||
SPDR S&P World ex-US ETF | — | — | 2,423,514 | — | — | — | 2,637,681 | |||||||||||||||||||||
SPDR S&P International Small Cap ETF | — | — | — | — | — | 4,136,069 | 28,113,898 | |||||||||||||||||||||
SPDR Dow Jones International Real Estate ETF | 2,568,760 | 37,378,612 | 162,058,595 | 64,649,806 | — | 37,171,108 | 279,603,740 | |||||||||||||||||||||
SPDR S&P Global Infrastructure ETF | — | 246,762 | 3,044,553 | 1,744,492 | — | — | 9,496,974 | |||||||||||||||||||||
SPDR S&P Global Natural Resources ETF | — | — | — | — | — | 13,623,694 | 37,795,968 | |||||||||||||||||||||
SPDR MSCI ACWI ex-US ETF | — | 2,856,017 | 36,957,682 | 2,453,209 | — | 2,959,825 | 15,255,024 | |||||||||||||||||||||
SPDR MSCI ACWI IMI ETF | — | — | — | — | — | — | — | |||||||||||||||||||||
SPDR MSCI EM 50 ETF | — | — | — | — | — | 65,400 | 52,225 | |||||||||||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | — | 367,543 | 574,285 | 91,148 | — | 6,159 | 258,532 | |||||||||||||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | — | 1,812,297 | 3,384,327 | 20,536 | — | — | 784,972 | |||||||||||||||||||||
SPDR S&P Global Dividend ETF | — | — | — | — | — | — | — | |||||||||||||||||||||
SPDR S&P International Dividend ETF | — | — | 13,759,514 | — | — | 76,567,504 | 83,195,012 | |||||||||||||||||||||
SPDR S&P International Mid Cap ETF | — | — | — | — | — | — | — | |||||||||||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | — | — | — | — | — | 10,899,298 | 21,945,045 | |||||||||||||||||||||
SPDR Dow Jones Global Real Estate ETF | — | 103,944 | 4,030,131 | 1,089,710 | — | 9,634,292 | 2,020,663 | |||||||||||||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | — | — | — | — | — | 9,053 | 16,144 | |||||||||||||||||||||
SPDR S&P International Consumer Staples Sector ETF | — | — | 12,851 | 3,931 | — | — | — | |||||||||||||||||||||
SPDR S&P International Energy Sector ETF | — | 4,624 | 119,106 | 316,377 | — | — | 209,542 | |||||||||||||||||||||
SPDR S&P International Financial Sector ETF | — | 39,777 | 563,054 | 43,972 | — | 12,132 | 356,555 |
342
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Non-Expiring — | Non-Expiring — | |||||||||||||||||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | Short Term | Long Term | ||||||||||||||||||||||
SPDR S&P International Health Care Sector ETF | $ | — | $ | 64,517 | $ | 3,109 | $ | 41,551 | $ | — | $ | 226,888 | $ | 161,812 | ||||||||||||||
SPDR S&P International Industrial Sector ETF | — | 4,087 | 41,800 | 85,376 | — | 10,404 | 258,025 | |||||||||||||||||||||
SPDR S&P International Materials Sector ETF | — | 60,733 | 154,398 | 205,070 | — | — | — | |||||||||||||||||||||
SPDR S&P International Technology Sector ETF | — | — | — | — | — | 3,937 | 409,847 | |||||||||||||||||||||
SPDR S&P International Telecommunications Sector ETF | — | 2,618 | 97,364 | 213,502 | — | 24,060 | 888,527 | |||||||||||||||||||||
SPDR S&P International Utilities Sector ETF | — | 16,137 | 130,798 | 182,287 | — | — | 850,341 |
Under current tax laws, certain capital and foreign currency losses realized after October 31 and ordinary income losses realized after December 31, may be deferred and treated as occurring on the first day of the following fiscal year. The Funds elected for federal income tax purposes to defer the following current year post October 31 and post December 31 losses, as applicable, as though the losses were incurred on the first day of the next fiscal year:
Post October | Late Year | |||||||
Capital Loss Deferral | Ordinary Loss Deferral | |||||||
SPDR STOXX Europe 50 ETF | $ | — | $ | — | ||||
SPDR EURO STOXX 50 ETF | — | — | ||||||
SPDR S&P Emerging Asia Pacific ETF | — | — | ||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | — | — | ||||||
SPDR S&P Russia ETF | — | — | ||||||
SPDR S&P China ETF | — | — | ||||||
SPDR S&P Emerging Markets ETF | — | — | ||||||
SPDR S&P Emerging Markets Dividend ETF | — | — | ||||||
SPDR S&P BRIC 40 ETF | — | — | ||||||
SPDR S&P Emerging Europe ETF | — | — | ||||||
SPDR S&P Emerging Latin America ETF | — | — | ||||||
SPDR S&P Emerging Middle East & Africa ETF | — | — | ||||||
SPDR S&P World ex-US ETF | — | — | ||||||
SPDR S&P International Small Cap ETF | — | — | ||||||
SPDR Dow Jones International Real Estate ETF | — | — | ||||||
SPDR S&P Global Infrastructure ETF | — | — | ||||||
SPDR S&P Global Natural Resources ETF | — | — | ||||||
SPDR MSCI ACWI ex-US ETF | — | — | ||||||
SPDR MSCI ACWI IMI ETF | — | — | ||||||
SPDR MSCI EM 50 ETF | — | — | ||||||
SPDR Russell/Nomura PRIME Japan ETF | — | — | ||||||
SPDR Russell/Nomura Small Cap Japan ETF | — | — | ||||||
SPDR S&P Global Dividend ETF | — | — | ||||||
SPDR S&P International Dividend ETF | — | — | ||||||
SPDR S&P International Mid Cap ETF | — | — | ||||||
SPDR S&P Emerging Markets Small Cap ETF | — | — | ||||||
SPDR Dow Jones Global Real Estate ETF | — | — | ||||||
SPDR S&P International Consumer Discretionary Sector ETF | — | — | ||||||
SPDR S&P International Consumer Staples Sector ETF | — | — |
343
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Post October | Late Year | |||||||
Capital Loss Deferral | Ordinary Loss Deferral | |||||||
SPDR S&P International Energy Sector ETF | $ | — | $ | — | ||||
SPDR S&P International Financial Sector ETF | — | — | ||||||
SPDR S&P International Health Care Sector ETF | — | — | ||||||
SPDR S&P International Industrial Sector ETF | — | — | ||||||
SPDR S&P International Materials Sector ETF | (214,241 | ) | — | |||||
SPDR S&P International Technology Sector ETF | — | — | ||||||
SPDR S&P International Telecommunications Sector ETF | — | — | ||||||
SPDR S&P International Utilities Sector ETF | — | — |
Distributions
The following Funds declare and distribute dividends from net investment income, if any, to shareholders quarterly: SPDR STOXX Europe 50 ETF, SPDR EURO STOXX 50 ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR Dow Jones International Real Estate ETF, SPDR S&P Global Dividend ETF, SPDR S&P International Dividend ETF, SPDR Dow Jones Global Real Estate ETF, SPDR S&P International Consumer Discretionary Sector ETF, SPDR S&P International Consumer Staples Sector ETF, SPDR S&P International Energy Sector ETF, SPDR S&P International Financial Sector ETF, SPDR S&P International Health Care Sector ETF, SPDR S&P International Industrial Sector ETF, SPDR S&P International Materials Sector ETF, SPDR S&P International Technology Sector ETF, SPDR S&P International Telecommunications Sector ETF and SPDR S&P International Utilities Sector ETF. The following Funds declare and distribute dividends from net investment income, if any, to shareholders semi-annually: SPDR S&P Emerging Asia Pacific ETF, SPDR S&P Small Cap Emerging Asia Pacific ETF, SPDR S&P Russia ETF, SPDR S&P China ETF, SPDR S&P Emerging Markets ETF, SPDR S&P BRIC 40 ETF, SPDR S&P Emerging Europe ETF, SPDR S&P Emerging Latin America ETF, SPDR S&P Emerging Middle East & Africa ETF, SPDR S&P World ex-US ETF, SPDR S&P International Small Cap ETF, SPDR S&P Global Infrastructure ETF, SPDR S&P Global Natural Resources ETF, SPDR MSCI ACWI ex-US ETF, SPDR MSCI ACWI IMI ETF, SPDR MSCI EM 50 ETF, SPDR MSCI EM Beyond BRIC ETF, SPDR Russell/Nomura PRIME Japan ETF, SPDR Russell/Nomura Small Cap Japan ETF, SPDR S&P International Mid Cap ETF and SPDR S&P Emerging Markets Small Cap ETF. The Trust declares and distributes net realized capital gains, if any, at least annually. Distributions are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles.
3. | Related Party Fees and Transactions |
Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement with SSgA Funds Management, Inc. (the “Adviser” or “SSgA FM”). As compensation for the services rendered, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued daily and paid quarterly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | ||||
SPDR STOXX Europe 50 ETF | 0.29 | % | ||
SPDR EURO STOXX 50 ETF | 0.29 | |||
SPDR S&P Emerging Asia Pacific ETF | 0.59 | |||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 0.65 | |||
SPDR S&P Russia ETF | 0.59 | |||
SPDR S&P China ETF | 0.59 | |||
SPDR S&P Emerging Markets ETF | 0.59 | |||
SPDR S&P Emerging Markets Dividend ETF | 0.59 |
344
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Annual Rate | ||||
SPDR S&P BRIC 40 ETF | 0.50 | % | ||
SPDR S&P Emerging Europe ETF | 0.59 | |||
SPDR S&P Emerging Latin America ETF | 0.59 | |||
SPDR S&P Emerging Middle East & Africa ETF | 0.59 | |||
SPDR S&P World ex-US ETF | 0.34 | |||
SPDR S&P International Small Cap ETF | 0.59 | |||
SPDR Dow Jones International Real Estate ETF | 0.59 | |||
SPDR S&P Global Infrastructure ETF | 0.40 | |||
SPDR S&P Global Natural Resources ETF | 0.40 | |||
SPDR MSCI ACWI ex-US ETF | 0.34 | |||
SPDR MSCI ACWI IMI ETF | 0.25 | |||
SPDR MSCI EM 50 ETF | 0.50 | |||
SPDR MSCI EM Beyond BRIC ETF | 0.55 | |||
SPDR Russell/Nomura PRIME Japan ETF | 0.50 | |||
SPDR Russell/Nomura Small Cap Japan ETF | 0.55 | |||
SPDR S&P Global Dividend ETF | 0.40 | |||
SPDR S&P International Dividend ETF | 0.45 | |||
SPDR S&P International Mid Cap ETF | 0.45 | |||
SPDR S&P Emerging Markets Small Cap ETF | 0.65 | |||
SPDR Dow Jones Global Real Estate ETF | 0.50 | |||
SPDR S&P International Consumer Discretionary Sector ETF | 0.50 | |||
SPDR S&P International Consumer Staples Sector ETF | 0.50 | |||
SPDR S&P International Energy Sector ETF | 0.50 | |||
SPDR S&P International Financial Sector ETF | 0.50 | |||
SPDR S&P International Health Care Sector ETF | 0.50 | |||
SPDR S&P International Industrial Sector ETF | 0.50 | |||
SPDR S&P International Materials Sector ETF | 0.50 | |||
SPDR S&P International Technology Sector ETF | 0.50 | |||
SPDR S&P International Telecommunications Sector ETF | 0.50 | |||
SPDR S&P International Utilities Sector ETF | 0.50 |
The Adviser pays all operating expenses of each Fund other than the advisory fee, brokerage, taxes, interest, fees and expenses of the Independent Trustees (including any Trustee’s counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.
State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, receives fees for its services as Custodian, Administrator and Transfer Agent from the Adviser.
State Street also acts as the securities lending agent for the Funds, pursuant to an amended and restated securities lending authorization agreement dated November 28, 2007. Proceeds collected by State Street on investment of cash collateral or any fee income is allocated as follows (after deduction of such other amounts payable to State Street under the terms of the securities lending agreement): 85% payable to the Fund, and 15% payable to State Street. In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Prime Portfolio (“Prime Portfolio”) for which SSgA FM serves as investment adviser. Prime Portfolio is a series of State Street Navigator Securities Lending Trust, a registered investment company under the 1940 Act, and operates as a money market fund in compliance with Rule 2a-7 under the 1940 Act. See Note 8 for additional information regarding securities lending.
345
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
For the period ended March 31, 2014, State Street earned securities lending agent fees from the following Funds:
Securities Lending | ||||
Agent Fees | ||||
SPDR STOXX Europe 50 ETF | $ | 4,249 | ||
SPDR EURO STOXX 50 ETF | 186,426 | |||
SPDR S&P Emerging Asia Pacific ETF | 13,681 | |||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 288 | |||
SPDR S&P Russia ETF | 60 | |||
SPDR S&P China ETF | 103,916 | |||
SPDR S&P Emerging Markets ETF | 7,336 | |||
SPDR S&P Emerging Markets Dividend ETF | 69,273 | |||
SPDR S&P BRIC 40 ETF | 1,938 | |||
SPDR S&P Emerging Europe ETF | 275 | |||
SPDR S&P Emerging Latin America ETF | 2,668 | |||
SPDR S&P Emerging Middle East & Africa ETF | 3,252 | |||
SPDR S&P World ex-US ETF | 32,469 | |||
SPDR S&P International Small Cap ETF | 62,177 | |||
SPDR Dow Jones International Real Estate ETF | 75,558 | |||
SPDR S&P Global Infrastructure ETF | 3,443 | |||
SPDR S&P Global Natural Resources ETF | 11,461 | |||
SPDR MSCI ACWI ex-US ETF | 19,203 | |||
SPDR MSCI ACWI IMI ETF | 358 | |||
SPDR MSCI EM 50 ETF | 71 | |||
SPDR MSCI EM Beyond BRIC ETF | 6 | |||
SPDR Russell/Nomura PRIME Japan ETF | 2,352 | |||
SPDR Russell/Nomura Small Cap Japan ETF | 9,022 | |||
SPDR S&P Global Dividend ETF | 1,318 | |||
SPDR S&P International Dividend ETF | 199,073 | |||
SPDR S&P International Mid Cap ETF | 2,842 | |||
SPDR S&P Emerging Markets Small Cap ETF | 96,685 | |||
SPDR Dow Jones Global Real Estate ETF | 16,328 | |||
SPDR S&P International Consumer Discretionary Sector ETF | 602 | |||
SPDR S&P International Consumer Staples Sector ETF | 663 | |||
SPDR S&P International Energy Sector ETF | 787 | |||
SPDR S&P International Financial Sector ETF | 419 | |||
SPDR S&P International Health Care Sector ETF | 930 | |||
SPDR S&P International Industrial Sector ETF | 858 | |||
SPDR S&P International Materials Sector ETF | 174 | |||
SPDR S&P International Technology Sector ETF | 276 | |||
SPDR S&P International Telecommunications Sector ETF | 969 | |||
SPDR S&P International Utilities Sector ETF | 2,848 |
Distributor
State Street Global Markets, LLC (the “Distributor”), an affiliate of the Adviser, acts as the principal underwriter of each Fund pursuant to a principal underwriting contract with the Trust. The Distributor may enter into agreements
346
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
with other broker-dealers (affiliated and non-affiliated) and other financial institutions to authorize them to sell Shares.
The Distributor has established an assisted trading program to aid Authorized Participants in certain creation and redemption activity for which the Distributor receives commissions from Authorized Participants. In addition, the Distributor receives compensation from State Street associated with on-line creation and redemption activity of Authorized Participants.
Trustees’ Fees
Effective July 1, 2013 the Trust, SSgA Master Trust, SSgA Active ETF Trust and SPDR Series Trust (together, the “Trusts”) pay, in the aggregate, each Independent Trustee an annual fee of $170,000 plus $10,000 per in-person meeting attended and $1,250 for each telephonic or video conference meeting attended. The Chairman of the Board receives an additional annual fee of $50,000 and the Chairman of the Audit Committee receives an additional annual fee of $20,000. The Trust also reimburses each Independent Trustee for travel and other out-of-pocket expenses incurred by him/her in connection with attending such meetings and in connection with attending industry seminars and meetings. Trustee fees are allocated among the Trusts and each of their respective series in such a manner as deemed equitable, taking into consideration the relative net assets of the series.
Prior to July 1, 2013, the Trusts paid, in the aggregate, each Independent Trustee an annual fee of $150,000 plus $10,000 per in-person meeting attended and $1,250 for each telephonic or video conference meeting attended. The Chairman of the Board received an additional annual fee of $50,000 and the Chairman of the Audit Committee received an additional annual fee of $20,000. The Trust also reimbursed each Independent Trustee for travel and other out-of-pocket expenses incurred by him/her in connection with attending such meetings and in connection with attending industry seminars and meetings. Trustee fees were allocated among the Trusts and each of their respective series in such a manner as deemed equitable, taking into consideration the relative net assets of the series.
Transactions with Affiliates
Each Fund may invest in certain money market funds managed by the Adviser, including the State Street Institutional Liquid Reserves Fund-Institutional Class (“Liquid Reserves Fund”), a series of State Street Institutional Investment Trust. The Liquid Reserves Fund is a feeder fund in a master/feeder fund structure that invests substantially all of its assets in the State Street Money Market Portfolio (“Master Portfolio”). The Liquid Reserves Fund does not pay an investment advisory fee to the Adviser, but the Master Portfolio in which it invests pays an investment advisory fee to the Adviser. The Liquid Reserves Fund intends to declare dividends on shares from net investment income daily and pay them as of the last business day of each month. All income distributions earned by the Funds from affiliated money market funds are recorded as dividend income on securities of affiliated issuers in the accompanying Statements of Operations. In addition, cash collateral from lending activities is invested in Prime Portfolio, for which SSgA FM serves as the investment adviser.
Amounts related to investments in Liquid Reserves Fund and/or Prime Portfolio at March 31, 2014 and for the period then ended are:
Value at | Purchased | Sold | Value at | |||||||||||||||||||||||||
Liquid Reserves Fund | 9/30/13 | Cost | Shares | Proceeds | Shares | 3/31/14 | Income | |||||||||||||||||||||
SPDR STOXX Europe 50 ETF | $ | 501,528 | $ | 8,584,324 | 8,584,324 | $ | 2,479,140 | 2,479,140 | $ | 6,606,712 | $ | 119 | ||||||||||||||||
SPDR EURO STOXX 50 ETF | 7,923,052 | 37,294,321 | 37,294,321 | 32,013,890 | 32,013,890 | 13,203,483 | 685 | |||||||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 1,452,271 | 8,939,724 | 8,939,724 | 9,940,738 | 9,940,738 | 451,257 | 334 | |||||||||||||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 361 | 289,023 | 289,023 | 239,865 | 239,865 | 49,519 | 12 | |||||||||||||||||||||
SPDR S&P Russia ETF | — | 665,125 | 665,125 | 590,317 | 590,317 | 74,808 | 45 | |||||||||||||||||||||
SPDR S&P China ETF | 15,502 | 8,158,423 | 8,158,423 | 7,792,224 | 7,792,224 | 381,701 | 283 | |||||||||||||||||||||
SPDR S&P Emerging Markets ETF | 1,227,230 | 13,844,413 | 13,844,413 | 14,143,468 | 14,143,468 | 928,175 | 555 | |||||||||||||||||||||
SPDR S&P Emerging Markets Dividend ETF | 8,225,333 | 13,412,961 | 13,412,961 | 21,186,970 | 21,186,970 | 451,324 | 177 | |||||||||||||||||||||
SPDR S&P BRIC 40 ETF | 762,677 | 4,979,840 | 4,979,840 | 5,143,894 | 5,143,894 | 598,623 | 138 | |||||||||||||||||||||
SPDR S&P Emerging Europe ETF | 42,146 | 2,554,853 | 2,554,853 | 2,437,355 | 2,437,355 | 159,644 | 45 |
347
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Value at | Purchased | Sold | Value at | |||||||||||||||||||||||||
Liquid Reserves Fund | 9/30/13 | Cost | Shares | Proceeds | Shares | 3/31/14 | Income | |||||||||||||||||||||
SPDR S&P Emerging Latin America ETF | $ | 115,178 | $ | 1,730,839 | 1,730,839 | $ | 1,807,443 | 1,807,443 | $ | 38,574 | $ | 47 | ||||||||||||||||
SPDR S&P Emerging Middle East & Africa ETF | 1,692 | 1,574,719 | 1,574,719 | 1,298,939 | 1,298,939 | 277,472 | 37 | |||||||||||||||||||||
SPDR S&P World ex-US ETF | 1,104,348 | 16,129,583 | 16,129,583 | 15,946,089 | 15,946,089 | 1,287,842 | 272 | |||||||||||||||||||||
SPDR S&P International Small Cap ETF | �� | 480,956 | 28,250,479 | 28,250,479 | 27,181,832 | 27,181,832 | 1,549,603 | 996 | ||||||||||||||||||||
SPDR Dow Jones International Real Estate ETF | 35,547,697 | 136,870,874 | 136,870,874 | 143,359,308 | 143,359,308 | 29,059,263 | 2,150 | |||||||||||||||||||||
SPDR S&P Global Infrastructure ETF | 54,923 | 1,855,232 | 1,855,232 | 1,857,058 | 1,857,058 | 53,097 | 35 | |||||||||||||||||||||
SPDR S&P Global Natural Resources ETF | 1,162,069 | 7,722,907 | 7,722,907 | 7,413,657 | 7,413,657 | 1,471,319 | 327 | |||||||||||||||||||||
SPDR MSCI ACWI ex-US ETF | 822,596 | 10,473,521 | 10,473,521 | 11,055,157 | 11,055,157 | 240,960 | 226 | |||||||||||||||||||||
SPDR MSCI ACWI IMI ETF | 31,336 | 270,320 | 270,320 | 193,340 | 193,340 | 108,316 | 24 | |||||||||||||||||||||
SPDR MSCI EM 50 ETF | 7,495 | 41,493 | 41,493 | 46,000 | 46,000 | 2,988 | 1 | |||||||||||||||||||||
SPDR MSCI EM Beyond BRIC ETF | — | 2,915,869 | 2,915,869 | 2,915,869 | 2,915,869 | — | 18 | |||||||||||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | 218,191 | 1,110,220 | 1,110,220 | 1,318,542 | 1,318,542 | 9,869 | 39 | |||||||||||||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | 98,208 | 2,006,610 | 2,006,610 | 1,905,588 | 1,905,588 | 199,230 | 42 | |||||||||||||||||||||
SPDR S&P Global Dividend ETF | 61,163 | 227,422 | 227,422 | 212,038 | 212,038 | 76,547 | 5 | |||||||||||||||||||||
SPDR S&P International Dividend ETF | 16,704,185 | 43,122,328 | 43,122,328 | 53,423,697 | 53,423,697 | 6,402,816 | 519 | |||||||||||||||||||||
SPDR S&P International Mid Cap ETF | 91,706 | 4,187,548 | 4,187,548 | 4,269,333 | 4,269,333 | 9,921 | 49 | |||||||||||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 9,061,414 | 60,655,773 | 60,655,773 | 67,799,072 | 67,799,072 | 1,918,115 | 648 | |||||||||||||||||||||
SPDR Dow Jones Global Real Estate ETF | 8,826,471 | 32,058,178 | 32,058,178 | 28,998,797 | 28,998,797 | 11,885,852 | 645 | |||||||||||||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 27,262 | 294,652 | 294,652 | 232,146 | 232,146 | 89,768 | 14 | |||||||||||||||||||||
SPDR S&P International Consumer Staples Sector ETF | 201,536 | 365,468 | 365,468 | 368,792 | 368,792 | 198,212 | 17 | |||||||||||||||||||||
SPDR S&P International Energy Sector ETF | 125,388 | 214,558 | 214,558 | 265,250 | 265,250 | 74,696 | 7 | |||||||||||||||||||||
SPDR S&P International Financial Sector ETF | 28,813 | 244,492 | 244,492 | 239,454 | 239,454 | 33,851 | 3 | |||||||||||||||||||||
SPDR S&P International Health Care Sector ETF | 109,397 | 965,940 | 965,940 | 624,371 | 624,371 | 450,966 | 10 | |||||||||||||||||||||
SPDR S&P International Industrial Sector ETF | 63,911 | 608,568 | 608,568 | 567,462 | 567,462 | 105,017 | 21 | |||||||||||||||||||||
SPDR S&P International Materials Sector ETF | 48,218 | 145,868 | 145,868 | 153,425 | 153,425 | 40,661 | 6 | |||||||||||||||||||||
SPDR S&P International Technology Sector ETF | 32,199 | 202,698 | 202,698 | 213,954 | 213,954 | 20,943 | 6 | |||||||||||||||||||||
SPDR S&P International Telecommunications Sector ETF | 433,837 | 3,478,323 | 3,478,323 | 1,118,921 | 1,118,921 | 2,793,239 | 43 | |||||||||||||||||||||
SPDR S&P International Utilities Sector ETF | 405,720 | 711,070 | 711,070 | 879,261 | 879,261 | 237,529 | 18 |
Value at | Purchased | Sold | Value at | |||||||||||||||||||||||||
Prime Portfolio | 9/30/13 | Cost | Shares | Proceeds | Shares | 3/31/14 | Income | |||||||||||||||||||||
SPDR STOXX Europe 50 ETF | $ | 2,491,832 | $ | 42,806,927 | 42,806,927 | $ | 45,197,921 | 45,197,921 | $ | 100,838 | $ | 19,112 | ||||||||||||||||
SPDR EURO STOXX 50 ETF | 115,479,471 | 893,470,644 | 893,470,644 | 1,008,950,115 | 1,008,950,115 | — | 1,029,184 | |||||||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 21,583,792 | 37,444,388 | 37,444,388 | 34,832,767 | 34,832,767 | 24,195,413 | 77,140 | |||||||||||||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 81,345 | 315,381 | 315,381 | 208,864 | 208,864 | 187,862 | 1,637 | |||||||||||||||||||||
SPDR S&P Russia ETF | 447,919 | 3,343,911 | 3,343,911 | 3,703,078 | 3,703,078 | 88,752 | 340 | |||||||||||||||||||||
SPDR S&P China ETF | 100,375,105 | 122,619,211 | 122,619,211 | 113,017,974 | 113,017,974 | 109,976,342 | 585,059 | |||||||||||||||||||||
SPDR S&P Emerging Markets ETF | 15,039,490 | 38,680,711 | 38,680,711 | 33,431,317 | 33,431,317 | 20,288,884 | 41,512 | |||||||||||||||||||||
SPDR S&P Emerging Markets Dividend ETF | 64,648,844 | 135,449,313 | 135,449,313 | 113,893,104 | 113,893,104 | 86,205,053 | 391,521 | |||||||||||||||||||||
SPDR S&P BRIC 40 ETF | 11,751,632 | 73,747,773 | 73,747,773 | 75,052,522 | 75,052,522 | 10,446,883 | 10,984 | |||||||||||||||||||||
SPDR S&P Emerging Europe ETF | 3,486,432 | 11,712,474 | 11,712,474 | 13,429,857 | 13,429,857 | 1,769,049 | 1,557 | |||||||||||||||||||||
SPDR S&P Emerging Latin America ETF | 11,046,198 | 34,196,380 | 34,196,380 | 36,950,003 | 36,950,003 | 8,292,575 | 15,112 | |||||||||||||||||||||
SPDR S&P Emerging Middle East & Africa ETF | 8,586,936 | 18,906,131 | 18,906,131 | 12,528,849 | 12,528,849 | 14,964,218 | 17,877 | |||||||||||||||||||||
SPDR S&P World ex-US ETF | 56,101,398 | 107,251,698 | 107,251,698 | 115,938,183 | 115,938,183 | 47,414,913 | 179,570 | |||||||||||||||||||||
SPDR S&P International Small Cap ETF | 89,616,860 | 97,572,491 | 97,572,491 | 92,305,676 | 92,305,676 | 94,883,675 | 350,690 | |||||||||||||||||||||
SPDR Dow Jones International Real Estate ETF | 106,184,532 | 850,749,732 | 850,749,732 | 865,551,188 | 865,551,188 | 91,383,076 | 426,459 | |||||||||||||||||||||
SPDR S&P Global Infrastructure ETF | 8,057,213 | 76,226,544 | 76,226,544 | 69,997,657 | 69,997,657 | 14,286,100 | 19,502 |
348
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
Value at | Purchased | Sold | Value at | |||||||||||||||||||||||||
Prime Portfolio | 9/30/13 | Cost | Shares | Proceeds | Shares | 3/31/14 | Income | |||||||||||||||||||||
SPDR S&P Global Natural Resources ETF | $ | 31,623,253 | $ | 270,517,732 | 270,517,732 | $ | 264,998,724 | 264,998,724 | $ | 37,142,261 | $ | 64,937 | ||||||||||||||||
SPDR MSCI ACWI ex-US ETF | 39,684,611 | 79,443,800 | 79,443,800 | 86,908,630 | 86,908,630 | 32,219,781 | 105,410 | |||||||||||||||||||||
SPDR MSCI ACWI IMI ETF | 869,026 | 10,183,861 | 10,183,861 | 8,628,703 | 8,628,703 | 2,424,184 | 2,121 | |||||||||||||||||||||
SPDR MSCI EM 50 ETF | 92,838 | 3,222,362 | 3,222,362 | 2,657,959 | 2,657,959 | 657,241 | 395 | |||||||||||||||||||||
SPDR MSCI EM Beyond BRIC ETF | — | 238,143 | 238,143 | 118,962 | 118,962 | 119,181 | 36 | |||||||||||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | 28,480,765 | 23,024,595 | 23,024,595 | 37,211,616 | 37,211,616 | 14,293,744 | 13,336 | |||||||||||||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | 20,324,113 | 13,514,912 | 13,514,912 | 20,328,237 | 20,328,237 | 13,510,788 | 50,946 | |||||||||||||||||||||
SPDR S&P Global Dividend ETF | 1,642,756 | 7,941,350 | 7,941,350 | 6,737,874 | 6,737,874 | 2,846,232 | 7,324 | |||||||||||||||||||||
SPDR S&P International Dividend ETF | 169,072,196 | 329,758,226 | 329,758,226 | 288,068,844 | 288,068,844 | 210,761,578 | 1,073,527 | |||||||||||||||||||||
SPDR S&P International Mid Cap ETF | 5,111,266 | 9,123,180 | 9,123,180 | 6,647,619 | 6,647,619 | 7,586,827 | 16,107 | |||||||||||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 32,762,843 | 54,827,960 | 54,827,960 | 50,885,634 | 50,885,634 | 36,705,169 | 419,100 | |||||||||||||||||||||
SPDR Dow Jones Global Real Estate ETF | 36,032,319 | 215,372,422 | 215,372,422 | 201,830,363 | 201,830,363 | 49,574,378 | 92,429 | |||||||||||||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 586,985 | 2,362,886 | 2,362,886 | 2,433,291 | 2,433,291 | 516,580 | 3,016 | |||||||||||||||||||||
SPDR S&P International Consumer Staples Sector ETF | 431,089 | 7,602,959 | 7,602,959 | 6,347,236 | 6,347,236 | 1,686,812 | 3,753 | |||||||||||||||||||||
SPDR S&P International Energy Sector ETF | 848,710 | 7,476,155 | 7,476,155 | 6,067,056 | 6,067,056 | 2,257,809 | 4,325 | |||||||||||||||||||||
SPDR S&P International Financial Sector ETF | 319,909 | 1,844,699 | 1,844,699 | 1,802,143 | 1,802,143 | 362,465 | 2,021 | |||||||||||||||||||||
SPDR S&P International Health Care Sector ETF | 301,903 | 4,177,705 | 4,177,705 | 3,891,936 | 3,891,936 | 587,672 | 4,773 | |||||||||||||||||||||
SPDR S&P International Industrial Sector ETF | 284,325 | 3,840,544 | 3,840,544 | 3,171,435 | 3,171,435 | 953,434 | 4,648 | |||||||||||||||||||||
SPDR S&P International Materials Sector ETF | 532,054 | 2,313,736 | 2,313,736 | 1,852,593 | 1,852,593 | 993,197 | 993 | |||||||||||||||||||||
SPDR S&P International Technology Sector ETF | 139,316 | 2,774,409 | 2,774,409 | 2,442,358 | 2,442,358 | 471,367 | 1,564 | |||||||||||||||||||||
SPDR S&P International Telecommunications Sector ETF | 1,185,249 | 8,028,599 | 8,028,599 | 7,512,366 | 7,512,366 | 1,701,482 | 5,390 | |||||||||||||||||||||
SPDR S&P International Utilities Sector ETF | 1,320,157 | 10,474,058 | 10,474,058 | 9,214,766 | 9,214,766 | 2,579,449 | 15,955 |
4. | Shareholder Transactions |
Shares are issued and redeemed by a Fund only in Creation Unit size aggregations of 50,000 shares for SPDR STOXX Europe 50 ETF, SPDR EURO STOXX 50 ETF, SPDR S&P Small Cap Emerging Asia Pacific ETF, SPDR S&P Russia ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR S&P Global Natural Resources ETF, SPDR MSCI EM 50 ETF, SPDR Russell/Nomura Small Cap Japan ETF, SPDR S&P Global Dividend ETF, SPDR S&P International Mid Cap ETF, SPDR S&P International Consumer Discretionary Sector ETF, SPDR S&P International Consumer Staples Sector ETF, SPDR S&P International Energy Sector ETF, SPDR S&P International Financial Sector ETF, SPDR S&P International Health Care Sector ETF, SPDR S&P International Industrial Sector ETF, SPDR S&P International Materials Sector ETF, SPDR S&P International Technology Sector ETF, SPDR S&P International Telecommunications Sector ETF and SPDR S&P International Utilities Sector ETF and 100,000 shares for SPDR S&P Emerging Asia Pacific ETF, SPDR S&P China ETF, SPDR S&P Emerging Markets ETF, SPDR S&P BRIC 40 ETF, SPDR S&P Emerging Europe ETF, SPDR S&P Emerging Latin America ETF, SPDR S&P Emerging Middle East & Africa ETF, SPDR S&P International Small Cap ETF, SPDR Dow Jones International Real Estate ETF, SPDR S&P Global Infrastructure ETF, SPDR MSCI ACWI IMI ETF, SPDR S&P International Dividend ETF, SPDR S&P Emerging Markets Small Cap ETF and SPDR Dow Jones Global Real Estate ETF and 200,000 shares for SPDR S&P World ex-US ETF, SPDR MSCI ACWI ex-US ETF and SPDR Russell/Nomura PRIME Japan ETF. Such transactions are generally on an in-kind basis, with a separate cash payment, which is a balancing cash component to equate the transaction to the net asset value per unit of the Funds on the transaction date. Transaction fees ranging from $500 to $12,000 per Creation Unit for each Fund, regardless of the number of Creation Units that are created or redeemed on the same day, are charged to those persons creating or redeeming Creation Units. An additional variable fee may be charged for certain transactions. Transaction fees are received by the Trust and/or Custodian and used to defray related expenses. The Custodian also receives amounts earned on cash collateral provided by Authorized Participants pending delivery of missing deposit securities.
349
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
5. | Aggregate Unrealized Appreciation and Depreciation |
The identified cost of investments in securities owned by each Fund for federal income tax purposes and the gross unrealized appreciation and depreciation at March 31, 2014 was as follows:
Gross | Gross | Net Unrealized | ||||||||||||||
Identified | Unrealized | Unrealized | Appreciation | |||||||||||||
Cost | Appreciation | Depreciation | (Depreciation) | |||||||||||||
SPDR STOXX Europe 50 ETF | $ | 224,044,175 | $ | 17,969,673 | $ | 7,148,278 | $ | 10,821,395 | ||||||||
SPDR EURO STOXX 50 ETF | 4,448,669,102 | 803,009,604 | 3,149,002 | 799,860,602 | ||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 412,269,312 | 84,049,095 | 58,027,217 | 26,021,878 | ||||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 4,071,544 | 528,655 | 215,973 | 312,682 | ||||||||||||
SPDR S&P Russia ETF | 28,968,896 | 164,044 | 8,072,898 | (7,908,854 | ) | |||||||||||
SPDR S&P China ETF | 944,434,442 | 83,654,050 | 142,140,113 | (58,486,063 | ) | |||||||||||
SPDR S&P Emerging Markets ETF | 233,809,740 | 22,119,498 | 40,104,434 | (17,984,936 | ) | |||||||||||
SPDR S&P Emerging Markets Dividend ETF | 580,556,384 | 25,917,094 | 50,355,027 | (24,437,933 | ) | |||||||||||
SPDR S&P BRIC 40 ETF | 203,481,511 | 12,777,903 | 47,632,969 | (34,855,066 | ) | |||||||||||
SPDR S&P Emerging Europe ETF | 109,887,758 | 6,458,837 | 37,094,397 | (30,635,560 | ) | |||||||||||
SPDR S&P Emerging Latin America ETF | 83,638,586 | 7,176,949 | 27,335,489 | (20,158,540 | ) | |||||||||||
SPDR S&P Emerging Middle East & Africa ETF | 83,008,448 | 12,216,735 | 16,832,656 | (4,615,921 | ) | |||||||||||
SPDR S&P World ex-US ETF | 830,706,481 | 133,913,335 | 22,494,755 | 111,418,580 | ||||||||||||
SPDR S&P International Small Cap ETF | 923,011,552 | 155,875,415 | 111,658,712 | 44,216,703 | ||||||||||||
SPDR Dow Jones International Real Estate ETF | 3,805,067,101 | 628,392,223 | 100,892,450 | 527,499,773 | ||||||||||||
SPDR S&P Global Infrastructure ETF | 105,555,120 | 8,141,351 | 4,113,077 | 4,028,274 | ||||||||||||
SPDR S&P Global Natural Resources ETF | 566,680,585 | 36,427,428 | 38,666,020 | (2,238,592 | ) | |||||||||||
SPDR MSCI ACWI ex-US ETF | 575,767,275 | 72,004,469 | 70,076,148 | 1,928,321 | ||||||||||||
SPDR MSCI ACWI IMI ETF | 13,531,150 | 1,703,272 | 279,051 | 1,424,221 | ||||||||||||
SPDR MSCI EM 50 ETF | 5,360,566 | 376,608 | 378,523 | (1,915 | ) | |||||||||||
SPDR MSCI EM Beyond BRIC ETF | 6,145,341 | 303,128 | 190,113 | 113,015 | ||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | 150,776,525 | 4,852,046 | 11,579,879 | (6,727,833 | ) | |||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | 96,046,454 | 6,874,673 | 16,625,636 | (9,750,963 | ) | |||||||||||
SPDR S&P Global Dividend ETF | 18,844,352 | 955,222 | 271,749 | 683,473 | ||||||||||||
SPDR S&P International Dividend ETF | 1,540,543,551 | 136,587,334 | 74,516,356 | 62,070,978 | ||||||||||||
SPDR S&P International Mid Cap ETF | 56,556,481 | 8,969,335 | 2,416,261 | 6,553,074 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 739,083,492 | 86,383,896 | 145,011,470 | (58,627,574 | ) | |||||||||||
SPDR Dow Jones Global Real Estate ETF | 1,072,289,658 | 107,465,791 | 24,513,995 | 82,951,796 | ||||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 18,498,655 | 2,323,756 | 788,413 | 1,535,343 | ||||||||||||
SPDR S&P International Consumer Staples Sector ETF | 34,784,581 | 5,438,332 | 803,888 | 4,634,444 | ||||||||||||
SPDR S&P International Energy Sector ETF | 16,200,648 | 861,185 | 1,552,120 | (690,935 | ) | |||||||||||
SPDR S&P International Financial Sector ETF | 11,623,942 | 671,687 | 845,335 | (173,648 | ) | |||||||||||
SPDR S&P International Health Care Sector ETF | 47,664,629 | 11,933,689 | 473,039 | 11,460,650 | ||||||||||||
SPDR S&P International Industrial Sector ETF | 26,375,142 | 2,493,400 | 1,021,404 | 1,471,996 | ||||||||||||
SPDR S&P International Materials Sector ETF | 13,402,300 | 573,903 | 3,670,630 | (3,096,727 | ) | |||||||||||
SPDR S&P International Technology Sector ETF | 14,000,960 | 2,741,299 | 1,989,391 | 751,908 | ||||||||||||
SPDR S&P International Telecommunications Sector ETF | 33,216,064 | 3,959,446 | 2,189,570 | 1,769,876 | ||||||||||||
SPDR S&P International Utilities Sector ETF | 60,866,853 | 7,054,595 | 2,092,758 | 4,961,837 |
350
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
6. | Investment Transactions |
For the six months ended March 31, 2014, the following Funds had in-kind contributions, in-kind redemptions and in-kind net realized gain/loss as follows:
Realized | ||||||||||||
Contributions | Redemptions | Gain/(Loss) | ||||||||||
SPDR STOXX Europe 50 ETF | $ | 114,508,939 | $ | — | $ | — | ||||||
SPDR EURO STOXX 50 ETF | 1,725,928,117 | 220,730,589 | 78,987,945 | |||||||||
SPDR S&P Emerging Asia Pacific ETF | 17,520,335 | 13,162,057 | 2,261,353 | |||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 761,472 | — | — | |||||||||
SPDR S&P Russia ETF | 13,406,098 | 20,612,609 | (5,411,816 | ) | ||||||||
SPDR S&P China ETF | 96,931,768 | 200,244,118 | 25,095,947 | |||||||||
SPDR S&P Emerging Markets ETF | 31,306,175 | 24,595,556 | 1,789,879 | |||||||||
SPDR S&P Emerging Markets Dividend ETF | 6,980,879 | 28,879,464 | 205,020 | |||||||||
SPDR S&P BRIC 40 ETF | 7,149,022 | 84,869,461 | (2,923,367 | ) | ||||||||
SPDR S&P Emerging Europe ETF | 9,096,513 | 2,715,098 | (223,717 | ) | ||||||||
SPDR S&P Emerging Latin America ETF | — | 8,469,803 | (3,336,831 | ) | ||||||||
SPDR S&P Emerging Middle East & Africa ETF | — | 6,183,668 | (116,874 | ) | ||||||||
SPDR S&P World ex-US ETF | 200,812,405 | 31,988,864 | 13,117,211 | |||||||||
SPDR S&P International Small Cap ETF | 33,080,179 | 3,069,281 | 990,293 | |||||||||
SPDR Dow Jones International Real Estate ETF | 316,073,770 | 51,252,698 | 15,236,264 | |||||||||
SPDR S&P Global Infrastructure ETF | 35,005,106 | — | — | |||||||||
SPDR S&P Global Natural Resources ETF | 114,857,640 | 9,725,337 | 1,060,188 | |||||||||
SPDR MSCI ACWI ex-US ETF | 47,800,436 | 13,560,580 | 3,720,993 | |||||||||
SPDR MSCI ACWI IMI ETF | 5,962,480 | — | — | |||||||||
SPDR MSCI EM 50 ETF | 2,058,272 | — | — | |||||||||
SPDR MSCI EM Beyond BRIC ETF | 1,778,128 | 1,921,323 | 74,458 | |||||||||
SPDR Russell/Nomura PRIME Japan ETF | 18,257,303 | 9,136,531 | 1,776,805 | |||||||||
SPDR Russell/Nomura Small Cap Japan ETF | — | 20,101,781 | 3,060,290 | |||||||||
SPDR S&P Global Dividend ETF | 6,285,106 | — | — | |||||||||
SPDR S&P International Dividend ETF | 90,478,652 | 55,275,406 | 5,466,531 | |||||||||
SPDR S&P International Mid Cap ETF | 9,398,260 | — | — | |||||||||
SPDR S&P Emerging Markets Small Cap ETF | — | 54,602,852 | (947,177 | ) | ||||||||
SPDR Dow Jones Global Real Estate ETF | 111,880,301 | 49,843,724 | 14,927,585 | |||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 5,596,739 | 5,568,837 | 1,694,456 | |||||||||
SPDR S&P International Consumer Staples Sector ETF | — | — | — | |||||||||
SPDR S&P International Energy Sector ETF | — | — | — | |||||||||
SPDR S&P International Financial Sector ETF | 4,446,244 | — | — | |||||||||
SPDR S&P International Health Care Sector ETF | — | 8,875,688 | 2,550,569 | |||||||||
SPDR S&P International Industrial Sector ETF | 11,731,714 | — | — | |||||||||
SPDR S&P International Materials Sector ETF | — | — | — | |||||||||
SPDR S&P International Technology Sector ETF | 1,447,790 | — | — | |||||||||
SPDR S&P International Telecommunications Sector ETF | 5,813,142 | 8,423,336 | 2,136,955 | |||||||||
SPDR S&P International Utilities Sector ETF | 19,221,109 | — | — |
The in-kind contributions and in-kind redemptions in this table may not accord with the beneficial interest transactions on the Statements of Changes in Net Assets. The table represents the accumulation of a Fund’s daily net shareholder
351
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
transactions while the Statements of Changes in Net Assets reflects gross shareholder transactions including any cash component of the transaction.
For the six months ended March 31, 2014, the Trust had purchases and sales of investment securities as follows:
Purchases | Sales | |||||||
SPDR STOXX Europe 50 ETF | $ | 6,533,738 | $ | 11,035,000 | ||||
SPDR EURO STOXX 50 ETF | 55,439,900 | 69,168,159 | ||||||
SPDR S&P Emerging Asia Pacific ETF | 12,690,259 | 9,228,430 | ||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 1,215,390 | 208,858 | ||||||
SPDR S&P Russia ETF | 241,005 | 362,930 | ||||||
SPDR S&P China ETF | 33,795,806 | 37,739,167 | ||||||
SPDR S&P Emerging Markets ETF | 15,072,333 | 11,585,337 | ||||||
SPDR S&P Emerging Markets Dividend ETF | 169,131,338 | 180,798,964 | ||||||
SPDR S&P BRIC 40 ETF | 12,981,833 | 12,904,132 | ||||||
SPDR S&P Emerging Europe ETF | 3,915,518 | 2,226,437 | ||||||
SPDR S&P Emerging Latin America ETF | 459,693 | 4,512,927 | ||||||
SPDR S&P Emerging Middle East & Africa ETF | 454,274 | 1,824,640 | ||||||
SPDR S&P World ex-US ETF | 122,165,193 | 115,039,013 | ||||||
SPDR S&P International Small Cap ETF | 193,179,768 | 200,176,755 | ||||||
SPDR Dow Jones International Real Estate ETF | 119,525,911 | 192,671,908 | ||||||
SPDR S&P Global Infrastructure ETF | 5,960,552 | 4,051,960 | ||||||
SPDR S&P Global Natural Resources ETF | 16,434,255 | 17,195,098 | ||||||
SPDR MSCI ACWI ex-US ETF | 7,791,548 | 7,711,620 | ||||||
SPDR MSCI ACWI IMI ETF | 113,291 | 9,007 | ||||||
SPDR MSCI EM 50 ETF | 432,430 | 185,934 | ||||||
SPDR MSCI EM Beyond BRIC ETF | 7,316,611 | 1,203,265 | ||||||
SPDR Russell/Nomura PRIME Japan ETF | 2,719,317 | 2,890,794 | ||||||
SPDR Russell/Nomura Small Cap Japan ETF | 3,970,146 | 5,061,645 | ||||||
SPDR S&P Global Dividend ETF | 4,178,533 | 4,054,110 | ||||||
SPDR S&P International Dividend ETF | 313,031,630 | 322,775,333 | ||||||
SPDR S&P International Mid Cap ETF | 655,874 | 4,002,066 | ||||||
SPDR S&P Emerging Markets Small Cap ETF | 2,885,746 | 90,539,275 | ||||||
SPDR Dow Jones Global Real Estate ETF | 24,458,532 | 26,013,032 | ||||||
SPDR S&P International Consumer Discretionary Sector ETF | 379,001 | 512,827 | ||||||
SPDR S&P International Consumer Staples Sector ETF | 629,322 | 524,640 | ||||||
SPDR S&P International Energy Sector ETF | 1,152,653 | 1,178,511 | ||||||
SPDR S&P International Financial Sector ETF | 271,142 | 203,189 | ||||||
SPDR S&P International Health Care Sector ETF | 3,803,640 | 3,933,449 | ||||||
SPDR S&P International Industrial Sector ETF | 1,117,796 | 603,292 | ||||||
SPDR S&P International Materials Sector ETF | 1,303,953 | 1,413,763 | ||||||
SPDR S&P International Technology Sector ETF | 70,599 | 125,882 | ||||||
SPDR S&P International Telecommunications Sector ETF | 4,614,851 | 6,614,109 | ||||||
SPDR S&P International Utilities Sector ETF | 2,153,973 | 2,266,830 |
For the six months ended March 31, 2014, the Trust did not pay any commissions to an affiliate of the Adviser for investment transactions.
352
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2014 (Unaudited)
7. | Concentration of Risk |
The Funds’ assets may be concentrated in one or more foreign countries. By concentrating their assets in a single country or group of countries, the Funds are subject to the risk that economic, political or other conditions that have a negative effect on that country or group of countries will negatively impact the Funds to a greater extent than if the Funds’ assets were invested in a wider variety of countries. In addition, the Funds’ assets may be concentrated in certain industries, subjecting them to greater risk than Funds that invest in a wider range of industries.
8. | Securities Lending |
Each Fund may lend securities up to 331/3% of its total assets to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day. The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities. Proceeds collected by State Street on investment of cash collateral or any fee income is partially allocated to State Street as compensation for its lending services.
The market value of securities on loan as of March 31, 2014 and the value of the invested cash collateral are disclosed in the Funds’ Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds’ Statement of Assets and Liabilities as it is held by the lending agent on behalf of the Funds and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represents the income earned from the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
353
SPDR INDEX SHARES FUNDS
OTHER INFORMATION
OTHER INFORMATION
March 31, 2014 (Unaudited)
Premium/Discount Information
Information regarding how often the Shares of each Fund traded on the Exchange at a price above (i.e. at a premium) or below (i.e. at a discount) the net asset value of the Fund during the past calendar year can be found at http://www.spdrs.com.
Shareholder Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, which may include creation and redemption fees or brokerage charges and (2) ongoing costs, including management fees, trustee fees, and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds. It is based on an investment of $1,000 invested on October 1, 2013 and held for the six months ended March 31, 2014.
Actual Expenses
The first table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you incurred over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first table under the heading entitled “Expenses Paid During Period” to estimate the expenses attributable to your investment during this period.
Hypothetical Example for Comparison Purposes
The second table below provides information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not a Fund’s actual return. Thus, you should not use the hypothetical account values and expenses to estimate the actual ending account balance or your expenses for the period. Rather, these figures are provided to enable you to compare the ongoing costs of investing in a Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Transaction fees at scheduled amounts ranging from $500 to $12,000 per Creation Unit are charged to those persons creating or redeeming Creation Units. If you buy or sell the Funds’ shares in the secondary market, you will incur customary brokerage commissions and charges.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as creation and redemption fees, or brokerage charges. Therefore, the second table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 10/1/13 to | |||||||||||||
Actual | Expense Ratio | 10/1/13 | 3/31/14 | 3/31/14 | ||||||||||||
SPDR STOXX Europe 50 ETF | 0.29 | % | $ | 1,000 | $ | 1,082.20 | $ | 1.51 | ||||||||
SPDR EURO STOXX 50 ETF | 0.29 | 1,000 | 1,119.80 | 1.53 | ||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 0.59 | 1,000 | 1,033.10 | 2.99 | ||||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 0.65 | 1,000 | 1,072.00 | 3.36 | ||||||||||||
SPDR S&P Russia ETF | 0.59 | 1,000 | 867.40 | 2.75 | ||||||||||||
SPDR S&P China ETF | 0.59 | 1,000 | 983.30 | 2.92 | ||||||||||||
SPDR S&P Emerging Markets ETF | 0.59 | 1,000 | 1,013.70 | 2.96 | ||||||||||||
SPDR S&P Emerging Markets Dividend ETF | 0.59 | 1,000 | 952.50 | 2.87 | ||||||||||||
SPDR S&P BRIC 40 ETF | 0.50 | 1,000 | 958.60 | 2.44 | ||||||||||||
SPDR S&P Emerging Europe ETF | 0.59 | 1,000 | 922.70 | 2.83 |
354
SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
March 31, 2014 (Unaudited)
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 10/1/13 to | |||||||||||||
Actual | Expense Ratio | 10/1/13 | 3/31/14 | 3/31/14 | ||||||||||||
SPDR S&P Emerging Latin America ETF | 0.59 | % | $ | 1,000 | $ | 967.40 | $ | 2.89 | ||||||||
SPDR S&P Emerging Middle East & Africa ETF | 0.59 | 1,000 | 1,069.90 | 3.04 | ||||||||||||
SPDR S&P World ex-US ETF | 0.34 | 1,000 | 1,059.20 | 1.75 | ||||||||||||
SPDR S&P International Small Cap ETF | 0.59 | 1,000 | 1,061.70 | 3.03 | ||||||||||||
SPDR Dow Jones International Real Estate ETF | 0.59 | 1,000 | 1,006.40 | 2.95 | ||||||||||||
SPDR S&P Global Infrastructure ETF | 0.40 | 1,000 | 1,115.20 | 2.11 | ||||||||||||
SPDR S&P Global Natural Resources ETF | 0.40 | 1,000 | 1,042.70 | 2.04 | ||||||||||||
SPDR MSCI ACWI ex-US ETF | 0.34 | 1,000 | 1,053.30 | 1.74 | ||||||||||||
SPDR MSCI ACWI IMI ETF | 0.25 | 1,000 | 1,087.30 | 1.30 | ||||||||||||
SPDR MSCI EM 50 ETF | 0.50 | 1,000 | 1,006.30 | 2.50 | ||||||||||||
SPDR MSCI EM Beyond BRIC ETF** | 0.55 | 1,000 | 1,027.70 | 1.79 | ||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | 0.50 | 1,000 | 970.50 | 2.46 | ||||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | 0.55 | 1,000 | 971.60 | 2.70 | ||||||||||||
SPDR S&P Global Dividend ETF | 0.40 | 1,000 | 1,072.20 | 2.07 | ||||||||||||
SPDR S&P International Dividend ETF | 0.45 | 1,000 | 1,059.80 | 2.31 | ||||||||||||
SPDR S&P International Mid Cap ETF | 0.45 | 1,000 | 1,074.10 | 2.33 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 0.65 | 1,000 | 1,044.90 | 3.31 | ||||||||||||
SPDR Dow Jones Global Real Estate ETF | 0.50 | 1,000 | 1,048.90 | 2.55 | ||||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 0.50 | 1,000 | 1,039.70 | 2.54 | ||||||||||||
SPDR S&P International Consumer Staples Sector ETF | 0.50 | 1,000 | 1,031.70 | 2.53 | ||||||||||||
SPDR S&P International Energy Sector ETF | 0.50 | 1,000 | 1,074.70 | 2.59 | ||||||||||||
SPDR S&P International Financial Sector ETF | 0.50 | 1,000 | 1,053.50 | 2.56 | ||||||||||||
SPDR S&P International Health Care Sector ETF | 0.50 | 1,000 | 1,136.70 | 2.66 | ||||||||||||
SPDR S&P International Industrial Sector ETF | 0.50 | 1,000 | 1,052.60 | 2.56 | ||||||||||||
SPDR S&P International Materials Sector ETF | 0.50 | 1,000 | 1,017.10 | 2.51 | ||||||||||||
SPDR S&P International Technology Sector ETF | 0.50 | 1,000 | 1,070.30 | 2.58 | ||||||||||||
SPDR S&P International Telecommunications Sector ETF | 0.50 | 1,000 | 1,091.50 | 2.61 | ||||||||||||
SPDR S&P International Utilities Sector ETF | 0.50 | 1,000 | 1,091.80 | 2.61 | ||||||||||||
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 10/1/13 to | |||||||||||||
Hypothetical | Expense Ratio | 10/1/13 | 3/31/14 | 3/31/14 | ||||||||||||
SPDR STOXX Europe 50 ETF | 0.29 | % | $ | 1,000 | $ | 1,023.45 | $ | 1.46 | ||||||||
SPDR EURO STOXX 50 ETF | 0.29 | 1,000 | 1,023.45 | 1.46 | ||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P Small Cap Emerging Asia Pacific ETF | 0.65 | 1,000 | 1,021.66 | 3.28 | ||||||||||||
SPDR S&P Russia ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P China ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P Emerging Markets ETF | 0.59 | 1,000 | 1,021.96 | 2.97 |
355
SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
March 31, 2014 (Unaudited)
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 10/1/13 to | |||||||||||||
Hypothetical | Expense Ratio | 10/1/13 | 3/31/14 | 3/31/14 | ||||||||||||
SPDR S&P Emerging Markets Dividend ETF | 0.59 | % | $ | 1,000 | $ | 1,021.96 | $ | 2.97 | ||||||||
SPDR S&P BRIC 40 ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P Emerging Europe ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P Emerging Latin America ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P Emerging Middle East & Africa ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P World ex-US ETF | 0.34 | 1,000 | 1,023.20 | 1.72 | ||||||||||||
SPDR S&P International Small Cap ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR Dow Jones International Real Estate ETF | 0.59 | 1,000 | 1,021.96 | 2.97 | ||||||||||||
SPDR S&P Global Infrastructure ETF | 0.40 | 1,000 | 1,022.91 | 2.02 | ||||||||||||
SPDR S&P Global Natural Resources ETF | 0.40 | 1,000 | 1,022.91 | 2.02 | ||||||||||||
SPDR MSCI ACWI ex-US ETF | 0.34 | 1,000 | 1,023.20 | 1.72 | ||||||||||||
SPDR MSCI ACWI IMI ETF | 0.25 | 1,000 | 1,023.65 | 1.26 | ||||||||||||
SPDR MSCI EM 50 ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR MSCI EM Beyond BRIC ETF** | 0.55 | 1,000 | 1,022.16 | 2.77 | ||||||||||||
SPDR Russell/Nomura PRIME Japan ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR Russell/Nomura Small Cap Japan ETF | 0.55 | 1,000 | 1,022.16 | 2.77 | ||||||||||||
SPDR S&P Global Dividend ETF | 0.40 | 1,000 | 1,022.91 | 2.02 | ||||||||||||
SPDR S&P International Dividend ETF | 0.45 | 1,000 | 1,022.66 | 2.27 | ||||||||||||
SPDR S&P International Mid Cap ETF | 0.45 | 1,000 | 1,022.66 | 2.27 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 0.65 | 1,000 | 1,021.66 | 3.28 | ||||||||||||
SPDR Dow Jones Global Real Estate ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Consumer Discretionary Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Consumer Staples Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Energy Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Financial Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Health Care Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Industrial Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Materials Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Technology Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Telecommunications Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 | ||||||||||||
SPDR S&P International Utilities Sector ETF | 0.50 | 1,000 | 1,022.41 | 2.52 |
* | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by the number of days in the most recent six month period, then divided by 365. | |
** | Actual period is from commencement of operations 12/4/13. Hypothetical period is from 10/1/13. |
Proxy Voting Policies and Procedures and Records
A description of the Trust’s proxy voting policies and procedures that are used by the Funds’ investment adviser to vote proxies relating to the Funds’ portfolio of securities are available (i) without charge, upon request by calling 1-866-787-2257 (toll free) or (ii) on the website of the Securities and Exchange Commission, at www.sec.gov.
356
SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
March 31, 2014 (Unaudited)
Information regarding how the investment advisor voted for the prior 12-months period ended June 30 is available by August 31 of each year by calling the same number and on the SEC’s website, at www.sec.gov, and on the Funds’ website at www.spdrs.com.
Quarterly Portfolio Schedule
The Funds file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The information on the Form N-Q is available upon request, without charge, by calling 1-866-787-2257 (toll free) and on the Funds’ website at www.spdrs.com.
Approval of Advisory Agreement
At an in-person meeting held prior to March 31, 2014, the Board of Trustees of the Trust (the “Board”) evaluated proposals to advisory arrangements for new series of the Trust, including a proposal to approve the Investment Advisory Agreement (the “Agreement”) between the Trust and SSgA Funds Management, Inc. (the “Adviser”) with respect to SPDR MSCI EM Beyond BRIC ETF, a new series of the Trust (the “New ETF”), which commenced operations during the most recent fiscal half-year period covered by this Semi-Annual Report. The Trustees who are not “interested persons” of the Trust within the meaning of the Investment Company Act of 1940, as amended (the “Independent Trustees”) also met separately with their independent legal counsel to consider the Agreement.
In evaluating the Agreement, the Board drew on materials provided to them by the Adviser and on other materials provided by State Street Bank and Trust Company, the Trust’s Administrator, Transfer Agent and Custodian (“State Street”). In deciding whether to approve the Agreement, the Board considered various factors, including the (i) nature, extent and quality of services to be provided by the Adviser with respect to the New ETF under the Agreement, (ii) costs to the Adviser of its services, and (iii) extent to which economies of scale would be realized if and as the New ETF grows and whether the fee in the Agreement reflects these economies of scale.
The Board considered the nature, extent and quality of services expected to be provided by the Adviser. In doing so, the Trustees relied on their prior experience in overseeing the management of the Trust and materials provided prior to and at the meeting. The Board reviewed the Agreement and the Adviser’s anticipated responsibilities for managing investment operations of the New ETF in accordance with the New ETF’s investment objective, investment policies, and applicable legal and regulatory requirements. The Board appreciated the relatively unique nature of the New ETF, as an exchange traded fund (“ETF”), and the experience and expertise of the Adviser with ETFs. The Board considered the background and experience of the Adviser’s senior management, including those individuals responsible for portfolio management and compliance of the New ETF. The Board also considered the portfolio management resources, structures and practices of the Adviser, including those associated with monitoring and securing the New ETF’s compliance with its investment objective and policies and with applicable laws and regulations. The Board also considered information about the Adviser’s best execution procedures and overall investment management business, noting that the Adviser serves a wide range of clients across a broad spectrum of asset classes. The Board looked at the Adviser’s general knowledge of the investment business and that of its affiliates which, together with the Adviser, make up State Street Global Advisors (“SSgA”), through which the Adviser shares all of its senior personnel. The Board considered that the Adviser and its affiliates, through their relationship with SSgA, constitute one of the world’s largest investment management enterprises for indexed products generally and ETFs in particular and also considered the Adviser’s experience in managing ETFs.
The Board also considered whether the Adviser or its affiliates benefited from its relationship with the Trust, noting that the Adviser does not maintain soft-dollar arrangements in connection with the Trust’s brokerage transactions.
The Board reviewed information regarding economies of scale or other efficiencies that may result as the New ETF’s assets grow in size. The Board noted that the Agreement did not provide for breakpoints in the New ETF’s advisory fee rates as assets of the Fund increase. However, the Board further noted the Adviser’s assertion that future economies of scale had been taken into consideration for the New ETF by establishing its relatively low advisory fee, effectively sharing the benefits of lower fees with the New ETF from the time of its inception. The Board noted that it
357
SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
March 31, 2014 (Unaudited)
intends to continue to monitor fees as the New ETF grows in size and assess whether fee breakpoints may be warranted.
The Board evaluated the New ETF’s unitary fee through review of comparative information with respect to fees paid by similar funds — i.e., ETFs tracking equity indexes, as applicable. The Board reviewed the universe of similar ETFs for the New ETF based upon data from Lipper Analytical Services and related comparative information for similar ETFs. The Board also reviewed the estimated expense ratio for the New ETF. In doing so, the Board used a fund by fund analysis of the data.
The Board, including the Independent Trustees voting separately, approved the Agreement for the New ETF after weighing the foregoing factors, none of which was dispositive in itself and may have been weighed differently by each Trustee. The Board’s conclusions with respect to the Agreement were as follows: (a) the nature and extent of the services expected to be provided by the Adviser with respect to the New ETF were appropriate; (b) the Adviser’s fee for the New ETF and the unitary fee, considered in relation to services expected to be provided, were fair and reasonable; (c) any additional benefits to the Adviser or its affiliates were not of a magnitude to materially affect the Board’s conclusions; and (d) fees expected to be paid to the Adviser were expected to share economies of scale with respect to the New ETF by way of the relatively low fee structure of the Trust.
358
The SPDR® Family of Exchange Traded Funds
The following is a list of SPDR ETFs being offered, along with their respective exchange trading symbols. Please call 1-866-787-2257 to obtain a prospectus for any SPDR ETF. The prospectus contains more complete information, including charges, expenses, investment objectives and risk factors that should be carefully considered to determine if the Fund(s) are an appropriate investment for you. Read the prospectus(es) carefully before investing. Investing involves risk, including possible loss of principal.
SPDR Index Shares Funds
SPDR STOXX Europe 50 ETF (FEU)
SPDR EURO STOXX 50 ETF (FEZ)
SPDR S&P Emerging Asia Pacific ETF (GMF)
SPDR S&P Small Cap Emerging Asia Pacific ETF (GMFS)
SPDR S&P Russia ETF (RBL)
SPDR S&P China ETF (GXC)
SPDR S&P Emerging Markets ETF (GMM)
SPDR S&P Emerging Markets Dividend ETF (EDIV)
SPDR S&P BRIC 40 ETF (BIK)
SPDR S&P Emerging Europe ETF (GUR)
SPDR S&P Emerging Latin America ETF (GML)
SPDR S&P Emerging Middle East & Africa ETF (GAF)
SPDR S&P World ex-US ETF (GWL)
SPDR S&P International Small Cap ETF (GWX)
SPDR Dow Jones International Real Estate ETF (RWX)
SPDR S&P Global Infrastructure ETF (GII)
SPDR S&P Global Natural Resources ETF (GNR)
SPDR MSCI ACWI ex-US ETF (CWI)
SPDR MSCI ACWI IMI ETF (ACIM)
SPDR MSCI EM 50 ETF (EMFT)
SPDR MSCI EM Beyond BRIC ETF (EMBB)
SPDR Russell/Nomura PRIMEtm Japan ETF (JPP)
SPDR Russell/Nomura Small Captm Japan ETF (JSC)
SPDR S&P Global Dividend ETF (WDIV)
SPDR S&P International Dividend ETF (DWX)
SPDR S&P International Mid Cap ETF (MDD)
SPDR S&P Emerging Markets Small Cap ETF (EWX)
SPDR Dow Jones Global Real Estate ETF (RWO)
SPDR S&P International Consumer Discretionary Sector ETF (IPD)
SPDR S&P International Consumer Staples Sector ETF (IPS)
SPDR S&P International Energy Sector ETF (IPW)
SPDR S&P International Financial Sector ETF (IPF)
SPDR S&P International Health Care Sector ETF (IRY)
SPDR S&P International Industrial Sector ETF (IPN)
SPDR S&P International Materials Sector ETF (IRV)
SPDR S&P International Technology Sector ETF (IPK)
SPDR S&P International Telecommunications Sector ETF (IST)
SPDR S&P International Utilities Sector ETF (IPU)
SPDR Series Trust
SPDR Russell 3000® ETF (THRK)
SPDR Russell 1000 ETF (ONEK)
SPDR Russell 2000 ETF (TWOK)
SPDR S&P 500 Growth ETF (SPYG)
SPDR S&P 500 Value ETF (SPYV)
SPDR Russell Small Cap Completeness ETF (RSCO)
SPDR S&P 400 Mid Cap Growth ETF (MDYG)
SPDR S&P 400 Mid Cap Value ETF (MDYV)
SPDR S&P 600 Small Cap ETF (SLY)
SPDR S&P 600 Small Cap Growth ETF (SLYG)
SPDR S&P 600 Small Cap Value ETF (SLYV)
SPDR Global Dow ETF (DGT)
SPDR Dow Jones REIT ETF (RWR)
SPDR S&P Bank ETF (KBE)
SPDR S&P Capital Markets ETF (KCE)
SPDR S&P Insurance ETF (KIE)
SPDR S&P Mortgage Finance ETF (KME)
SPDR S&P Regional Banking ETF (KRE)
SPDR Morgan Stanley Technology ETF (MTK)
SPDR S&P Dividend ETF (SDY)
SPDR S&P Aerospace & Defense ETF (XAR)
359
SPDR S&P Biotech ETF (XBI)
SPDR S&P Health Care Equipment ETF (XHE)
SPDR S&P Health Care Services ETF (XHS)
SPDR S&P Homebuilders ETF (XHB)
SPDR S&P Metals & Mining ETF (XME)
SPDR S&P Oil & Gas Equipment & Services ETF (XES)
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
SPDR S&P Pharmaceuticals ETF (XPH)
SPDR S&P Retail ETF (XRT)
SPDR S&P Semiconductor ETF (XSD)
SPDR S&P Software & Services ETF (XSW)
SPDR S&P Telecom ETF (XTL)
SPDR S&P Transportation ETF (XTN)
SPDR S&P 1500 Value Tilt ETF (VLU)
SPDR S&P 1500 Momentum Tilt ETF (MMTM)
SPDR Russell 1000 Low Volatility ETF (LGLV)
SPDR Russell 2000 Low Volatility ETF (SMLV)
SPDR Wells Fargo Preferred Stock ETF (PSK)
SPDR Barclays 1-3 Month T-Bill ETF (BIL)
SPDR Barclays TIPS ETF (IPE)
SPDR Barclays 0-5 Year TIPS ETF (SIPE)
SPDR Barclays 1-10 Year TIPS ETF (TIPX)
SPDR Barclays Short Term Treasury ETF (SST)
SPDR Barclays Intermediate Term Treasury ETF (ITE)
SPDR Barclays Long Term Treasury ETF (TLO)
SPDR Barclays Short Term Corporate Bond ETF (SCPB)
SPDR Barclays Intermediate Term Corporate Bond ETF (ITR)
SPDR Barclays Long Term Corporate Bond ETF (LWC)
SPDR Barclays Issuer Scored Corporate Bond ETF (CBND)
SPDR Barclays Convertible Securities ETF (CWB)
SPDR Barclays Mortgage Backed Bond ETF (MBG)
SPDR Barclays Aggregate Bond ETF (LAG)
SPDR Nuveen Barclays Municipal Bond ETF (TFI)
SPDR Nuveen Barclays California Municipal Bond ETF (CXA)
SPDR Nuveen Barclays New York Municipal Bond ETF (INY)
SPDR Nuveen Barclays Short Term Municipal Bond ETF (SHM)
SPDR Nuveen S&P VRDO Municipal Bond ETF (VRD)
SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB)
SPDR Nuveen Barclays Build America Bond ETF (BABS)
SPDR DB International Government Inflation-Protected Bond ETF (WIP)
SPDR Barclays Short Term International Treasury Bond ETF (BWZ)
SPDR Barclays International Treasury Bond ETF (BWX)
SPDR Barclays International Corporate Bond ETF (IBND)
SPDR Barclays Emerging Markets Local Bond ETF (EBND)
SPDR Barclays International High Yield Bond ETF (IJNK)
SPDR Barclays High Yield Bond ETF (JNK)
SPDR Barclays Short Term High Yield Bond ETF (SJNK)
SPDR Barclays Investment Grade Floating Rate ETF (FLRN)
SPDR BofA Merrill Lynch Emerging Markets Corporate Bond ETF (EMCD)
SPDR BofA Merrill Lynch Crossover Corporate Bond ETF (XOVR)
The Select Sector SPDR Trust
The Consumer Discretionary Select Sector SPDR Fund (XLY)
The Consumer Staples Select Sector SPDR Fund (XLP)
The Energy Select Sector SPDR Fund (XLE)
The Financial Select Sector SPDR Fund (XLF)
The Health Care Select Sector SPDR Fund (XLV)
The Industrial Select Sector SPDR Fund (XLI)
The Materials Select Sector SPDR Fund (XLB)
The Technology Select Sector SPDR Fund (XLK)
The Utilities Select Sector SPDR Fund (XLU)
SSgA Active ETF Trust
SPDR SSgA Multi-Asset Real Return ETF (RLY)
SPDR SSgA Income Allocation ETF (INKM)
SPDR SSgA Global Allocation ETF (GAL)
SPDR Blackstone/GSO Senior Loan ETF (SRLN)
SPDR SSgA Ultra Short Term Bond ETF (ULST)
SPDR MFS Systematic Core Equity ETF (SYE)
SPDR MFS Systematic Value Equity ETF (SYV)
SPDR MFS Systematic Growth Equity ETF (SYG)
360
SPDR Dow Jones Industrial Average ETF Trust (DIA)
SPDR S&P 500 ETF Trust (SPY)
State Street Global Markets, LLC, member FINRA, SIPC, is distributor for all investment portfolios of SPDR Series Trust, SPDR Index Shares Funds, and SSgA Active ETF Trust. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500 ETF Trust (SPY) and SPDR Dow Jones Industrial Average ETF Trust (DIA), both unit investment trusts, and ALPS Portfolio Solutions Distributors, Inc., is the distributor for all investment portfolios of The Select Sector SPDR Trust. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State Street Global Markets, LLC.
361
SPDR Index Shares Funds
trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
officers
Ellen M. Needham, President
Ann M. Carpenter, Vice President
Michael P. Riley, Vice President
Chad Hallett, Treasurer
Matthew W. Flaherty, Assistant Treasurer
Laura F. Dell, Assistant Treasurer
Christopher A. Madden, Secretary
Danio Mastropieri, Assistant Secretary
Brian Harris, Chief Compliance Officer
Ellen M. Needham, President
Ann M. Carpenter, Vice President
Michael P. Riley, Vice President
Chad Hallett, Treasurer
Matthew W. Flaherty, Assistant Treasurer
Laura F. Dell, Assistant Treasurer
Christopher A. Madden, Secretary
Danio Mastropieri, Assistant Secretary
Brian Harris, Chief Compliance Officer
investment manager
SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111
SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111
distributor
State Street Global Markets, LLC
One Lincoln Street
Boston, MA 02111
State Street Global Markets, LLC
One Lincoln Street
Boston, MA 02111
custodian, administrator and transfer agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
legal counsel
Bingham McCutchen LLP
2020 K Street NW
Washington, DC 20006
Bingham McCutchen LLP
2020 K Street NW
Washington, DC 20006
independent registered public accounting firm
PricewaterhouseCoopers LLP
125 High Street
Boston, MA 02110
PricewaterhouseCoopers LLP
125 High Street
Boston, MA 02110
Fund Shares are distributed by State Street Global Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Markets, LLC; member FINRA, SIPC.
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com Please read the prospectus carefully before you invest.
State Street Global Advisors
State Street Financial Center
One Lincoln Street
Boston, MA 02111
State Street Financial Center
One Lincoln Street
Boston, MA 02111
The investment return and principal value of an investment in the Funds will fluctuate in value, so that when shares are sold or redeemed they may be worth more or less than when they were purchased.
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.
SPDR STOXX Europe 50 ETF, SPDR EURO STOXX 50 ETF, SPDR S&P Emerging Asia Pacific ETF, SPDR S&P Small Cap Emerging Asia Pacific ETF, SPDR S&P Russia ETF, SPDR S&P China ETF, SPDR S&P Emerging Markets ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR S&P BRIC 40 ETF, SPDR S&P Emerging Europe ETF, SPDR S&P Emerging Latin America ETF, SPDR S&P Emerging Middle East & Africa ETF, SPDR S&P World ex-US ETF, SPDR S&P International Small Cap ETF, SPDR Dow Jones International Real Estate ETF, SPDR S&P Global Infrastructure ETF, SPDR MSCI ACWI ex-US ETF, SPDR Russell/ Nomura PRIME Japan ETF, SPDR Russell/Nomura Small Cap Japan ETF, SPDR S&P Global Dividend ETF, SPDR S&P International Dividend ETF, SPDR S&P International Mid Cap ETF, SPDR S&P Emerging Markets Small Cap ETF, SPDR Dow Jones Global Real Estate ETF, SPDR S&P Global Natural Resources ETF, SPDR MSCI ACWI IMI ETF, SPDR MSCI EM 50 ETF, SPDR MSCI EM Beyond BRIC ETF, SPDR S&P International Consumer Discretionary Sector ETF, SPDR S&P International Consumer Staples Sector ETF, SPDR S&P International Energy Sector ETF, SPDR S&P International Financial Sector ETF, SPDR S&P International Health Care Sector ETF, SPDR S&P International Industrial Sector ETF, SPDR S&P International Materials Sector ETF, SPDR S&P International Technology Sector ETF, SPDR S&P International Telecommunications Sector ETF, SPDR S&P International Utilities Sector ETF: In addition to the normal risks associated with equity investing, narrowly focused investments and investments in smaller companies typically exhibit higher volatility and price fluctuation.
For all SPDR Index Shares Funds: International investments may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations.
In general, Fund shares can be expected to move up or down in value with the value of the applicable index. Although Fund shares may be bought and sold on the exchange through any brokerage account, Fund shares are not individually redeemable from the Fund. Investors may acquire Fund Shares and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.
The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indicies LLC, MSCI Inc., and Russell Investment Group. Neither do these companies make any representation regarding the advisability of investing in the Funds. The Funds are distributed by State Street Global Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Markets, LLC is a member of FINRA, SIPC. References to State Street may include State Street Corporation and its affiliates. Shares of the Funds are not insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by State Street Bank and Trust Company. Fund shares are subject to investment risks, including possible loss of the principal invested. The Funds pay State Street for its services as investment advisor, custodian, administrator, securities lending agent, transfer agent and shareholder servicing agent.
“SPDR” is a registered trademark of Standard & Poor Financial Services LLC (“S&P”) and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations and important information that could affect investors’ rights are described in the prospectus for the applicable product.
This information must be preceded or accompanied by a current prospectus or summary prospectus. Read the prospectus carefully before you invest or send money.
Past performance is no guarantee of future results. It is not possible to invest directly in an index. Index performance does not reflect charges and expenses associated with the fund or brokerage commissions associated with buying and selling a fund. Index performance is not meant to represent that of any particular fund.
© 2014 State Street Corporation SPDRIDEXSAR IBG-11610
For more complete information, please call 866.787.2257 or visit www.spdrs.com today. |
Item 2. Code of Ethics
Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
Item 3. Audit Committee Financial Expert
Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
Item 4. Principal Accountant Fees and Services
Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
Item 5. Audit Committee of Listed Registrants
Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
Item 6. Schedule of Investments
A Schedule of Investments for each series of the registrant is included as a part of the semi-annual report to shareholders filed under Item 1 of this Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable to the registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not applicable to the registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to the registrant.
Item 10. Submission of Matters to a Vote of Security Holders
The registrant has not adopted any material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board.
Item 11. Controls and Procedures
(a) Within 90 days of the filing date of this Form N-CSR, Ellen M. Needham, the registrant’s President and Principal Executive Officer, and Chad C. Hallett, the registrant’s Treasurer and Principal Financial Officer, reviewed the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) and evaluated their effectiveness. Based on their review, Ms. Needham and Mr. Hallett determined that the disclosure controls and procedures adequately ensure that information required to be disclosed by the registrant in its periodic reports is recorded, processed, summarized and reported within the time periods required by the Securities and Exchange Commission.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Exhibits
(a)(1) Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
(2) Separate certifications as required by Rule 30a-2(a) under the 1940 Act for each principal executive officer and principal financial officer of the registrant are attached.
(3) Not applicable
(b) A single certification required by Rule 30a-2(b) under the 1940 Act, Rule 13a-14(b) or Rule 15d-14(b) under the Securities Exchange Act of 1934 and Section 1350 of Chapter 63 of Title 18 of the United States Code for the principal executive officer and principal financial officer of the registrant is attached.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SPDR INDEX SHARES FUNDS
By: | /s/ Ellen M. Needham | |||
President and Principal Executive Officer | ||||
Date: | June 5, 2014 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Ellen M. Needham | |||
President and Principal Executive Officer | ||||
Date: | June 5, 2014 | |||
By: | /s/ Chad C. Hallett | |||
Treasurer and Principal Financial Officer | ||||
Date: | June 5, 2014 |