Edgar Filing: SPDR GOLD TRUST

SPDR ETF Trading Report May 2018

Filed Pursuant To Rule 433

Registration No. 333-217785

June 21, 2018

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May 2018
INVESTMENT PROFESSIONAL USE ONLY
SPDR® ETF Trading Report
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
US Core
SPY     SPDR S&P 500® ETF 0.01 0.00 0.01 73,018,060 19,660,097,474 92,861,152 6,059 4,521 1,636,957 1,214,962 268 0.89 172,376,096
MDY     SPDR S&P MidCap 400® ETF 0.06 0.02 0.07 912,085 320,941,409 1,081,193 797 937 279,929 325,170 137 0.96 1,710,237
SLY     SPDR S&P 600 Small Cap ETF 0.32 0.23 0.34 23,802 3,330,103 22,683 1,752 1,900 246,396 260,555 106 1.06 19,578
DIA     SPDR Dow Jones Industrial Average ETF Trust 0.03 0.01 0.03 3,759,918 921,788,906 4,861,546 1,981 1,368 487,428 335,258 188 1.00 6,916,936
SPTM     SPDR Portfolio Total Stock Market ETF 0.01 0.04 0.01 489,516 16,510,839 615,839 49,299 35,646 1,660,665 1,193,344 336 0.83 114,212
SPSM     SPDR Portfolio Small Cap ETF 0.02 0.06 0.02 275,391 8,631,950 266,631 12,162 13,773 378,110 421,444 342 0.97 53,775
SPLG     SPDR Portfolio Large Cap ETF 0.01 0.04 0.01 279,327 8,863,719 361,392 43,100 37,218 1,365,676 1,172,870 314 0.85 71,069
SPMD     SPDR Portfolio Mid Cap ETF 0.02 0.05 0.02 175,090 6,007,624 209,969 4,825 3,860 165,627 130,769 258 0.93 57,225
SPYX     SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.10 0.15 0.10 9,394 608,178 12,169 934 950 61,087 61,770 189 0.75 1,347
SHE     SPDR SSGA Gender Diversity Index ETF 0.07 0.10 0.08 5,528 393,673 4,780 5,028 3,608 357,700 256,317 79 0.68 16,963
US Style
SPYG     SPDR Portfolio S&P 500 Growth ETF 0.01 0.04 0.01 1,185,831 41,103,779 869,668 4,449 4,502 154,303 154,712 607 0.97 93,259
SPYV     SPDR Portfolio S&P 500 Value ETF 0.01 0.04 0.01 458,664 13,639,679 590,181 5,200 5,333 154,874 159,051 499 0.86 60,333
MDYG     SPDR S&P 400 Mid Cap Growth ETF 0.11 0.07 0.14 35,199 5,625,910 38,552 796 791 127,957 125,765 88 0.88 5,342
MDYV     SPDR S&P 400 Mid Cap Value ETF 0.08 0.08 0.09 30,840 3,181,345 31,315 840 774 86,500 78,470 103 0.86 3,885
SLYG     SPDR S&P 600 Small Cap Growth ETF 0.22 0.09 0.28 44,321 10,796,496 48,980 452 720 110,419 170,601 68 1.03 16,049
SLYV     SPDR S&P 600 Small Cap Value ETF 0.12 0.09 0.13 66,776 8,697,683 80,260 977 874 127,575 111,424 83 1.06 54,145
US Sector
XLY     Consumer Discretionary Select Sector SPDR Fund 0.01 0.01 0.01 4,857,085 508,669,368 5,682,297 2,864 2,174 300,393 226,248 151 0.93 9,321,971
XLP     Consumer Staples Select Sector SPDR Fund 0.01 0.02 0.01 13,326,599 661,214,385 14,835,693 45,167 36,054 2,241,770 1,848,307 333 1.05 26,685,664
XLE     Energy Select Sector SPDR Fund 0.01 0.01 0.01 16,758,739 1,270,287,888 15,514,804 7,382 7,930 561,845 566,735 181 1.51 26,236,220
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SPDR® ETF Trading Report
2
State Street Global Advisors
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
US Sector (cont’d)
XLF     Financial Select Sector SPDR Fund 0.01 0.04 0.01 48,289,123 1,335,033,526 56,381,911 370,338 346,444 10,291,878 9,697,357 679 1.30 59,978,856
XLV     Health Care Select Sector SPDR Fund 0.01 0.01 0.01 9,279,388 762,187,147 8,570,875 5,290 4,201 435,390 347,959 170 1.13 20,210,918
XLI     Industrial Select Sector SPDR Fund 0.01 0.01 0.01 11,853,352 874,767,439 13,978,715 7,197 6,245 535,372 467,317 194 1.25 37,965,274
XLB     Materials Select Sector SPDR Fund 0.01 0.02 0.01 5,420,237 316,985,257 6,183,932 8,566 7,829 503,064 459,649 205 1.14 14,415,585
XLK     Technology Select Sector SPDR Fund 0.01 0.02 0.01 12,300,096 846,117,319 14,385,461 14,959 13,002 1,032,378 884,671 249 1.13 20,547,460
XLU     Utilities Select Sector SPDR Fund 0.01 0.02 0.01 13,229,226 664,757,746 15,063,260 23,358 18,997 1,171,865 953,093 256 1.18 55,912,680
XLRE     Real Estate Select Sector SPDR Fund 0.01 0.03 0.01 2,124,268 66,149,106 3,637,957 42,809 39,297 1,332,181 1,213,315 372 1.11 2,502,902
US Industry
KBE     SPDR S&P Bank ETF 0.01 0.02 0.01 2,296,319 113,267,991 2,442,973 3,275 3,120 161,813 153,202 182 1.52 2,767,355
KCE     SPDR S&P Capital Markets ETF 0.11 0.19 0.12 33,070 1,944,346 18,628 1,336 2,314 80,415 137,385 337 0.99 2,829
KIE     SPDR S&P Insurance ETF 0.02 0.06 0.02 377,709 11,516,317 444,122 5,218 5,506 159,575 170,374 358 1.05 1,342,677
KRE     SPDR S&P Regional Banking ETF 0.01 0.02 0.01 5,983,006 378,815,017 6,064,497 2,554 2,443 162,216 152,677 163 1.56 29,328,963
XBI     SPDR S&P Biotech ETF 0.03 0.03 0.03 3,938,981 359,918,760 4,524,009 867 901 78,915 81,336 156 1.93 30,881,948
XNTK     SPDR NYSE Technology ETF 0.10 0.11 0.11 13,700 1,254,373 27,946 494 511 45,278 46,278 83 1.10 5,641
XHB     SPDR S&P Homebuilders ETF 0.01 0.03 0.01 2,706,048 106,676,424 2,804,550 6,010 5,214 237,224 209,890 191 1.50 11,592,463
XME     SPDR S&P Metals & Mining ETF 0.01 0.03 0.01 2,154,585 78,726,016 2,588,926 4,205 3,248 154,456 117,377 185 1.81 7,340,889
XES     SPDR S&P Oil & Gas Equipment & Services ETF 0.01 0.08 0.01 864,908 15,365,120 827,503 7,808 8,944 139,116 144,691 344 2.37 896,985
XITK     SPDR FactSet Innovative Technology ETF 0.25 0.27 0.18 6,607 617,632 5,637 331 335 30,829 30,318 128 1.28 277
XOP     SPDR S&P Oil & Gas Exploration & Production ETF 0.01 0.02 0.01 21,762,819 901,350,081 18,505,506 11,325 10,796 469,479 410,781 219 2.36 69,551,933
XPH     SPDR S&P Pharmaceuticals ETF 0.04 0.09 0.04 92,810 3,773,038 67,696 2,130 2,250 87,153 93,568 193 1.53 660,730
XRT     SPDR S&P Retail ETF 0.01 0.02 0.01 4,184,609 192,317,347 4,484,099 4,946 4,019 227,458 181,845 176 1.50 19,306,971
XSD     SPDR S&P Semiconductor ETF 0.04 0.06 0.05 98,369 7,086,799 136,959 990 998 71,994 71,696 145 1.42 470,215
XHE     SPDR S&P Health Care Equipment ETF 0.13 0.18 0.17 82,444 6,170,977 47,781 531 556 39,707 39,847 202 1.22 32,063
XTL     SPDR S&P Telecom ETF 0.17 0.24 0.16 19,881 1,406,798 28,684 421 414 29,738 29,308 163 1.02 7,251
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State Street Global Advisors
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
US Industry (cont’d)
XAR     SPDR S&P Aerospace & Defense ETF 0.06 0.07 0.07 111,126 9,644,692 125,421 944 1,197 82,462 105,213 120 1.28 2,528,706
XHS     SPDR S&P Health Care Services ETF 0.20 0.30 0.20 7,471 499,322 5,574 437 511 29,329 33,332 133 0.99 28,963
XSW     SPDR S&P Software & Services ETF 0.23 0.29 0.23 13,282 1,063,517 7,853 2,986 3,400 237,930 264,359 183 0.94 24,443
XTH     SPDR S&P Technology Hardware ETF 0.17 0.23 0.19 1,441 107,233 541 3,083 2,437 229,458 179,074 120 0.99 256
XTN     SPDR S&P Transportation ETF 0.05 0.08 0.06 16,439 1,048,591 15,333 1,549 1,215 98,486 77,015 149 1.22 15,293
XWEB     SPDR S&P Internet ETF 0.24 0.29 0.26 7,724 642,018 3,998 3,473 3,776 285,590 299,401 136 1.07 1,128
XKII     SPDR Kensho Intelligent Structures ETF 0.08 0.28 0.08 879 25,609 2,286 9,069 9,691 262,513 287,552 169 0.49 2,908
XKST     SPDR Kensho Smart Mobility ETF 0.08 0.28 0.08 2,567 77,641 2,092 7,454 7,946 225,163 240,030 161 0.58 6,774
XKFS     SPDR Kensho Future Security ETF 0.10 0.32 0.09 2,558 82,728 3,368 5,750 5,878 186,712 188,896 164 0.85 3,901
Real Estate Equities
RWR     SPDR Dow Jones REIT ETF 0.03 0.04 0.03 192,286 17,060,515 226,300 1,075 1,204 95,363 104,071 196 1.17 95,834
RWO     SPDR Dow Jones Global Real Estate ETF 0.05 0.10 0.04 162,079 7,666,560 200,496 614 737 28,958 34,159 183 0.86 47,609
RWX     SPDR Dow Jones International Real Estate ETF 0.01 0.04 0.02 512,979 20,664,581 562,800 3,597 3,860 144,894 154,761 339 0.55 1,144,025
Global Equities
DGT     SPDR Global Dow ETF 0.47 0.56 0.49 1,857 157,043 1,657 490 476 41,536 40,447 129 0.42 327
GII     SPDR S&P Global Infrastructure ETF 0.06 0.12 0.06 12,603 626,674 13,212 631 656 31,366 32,474 137 0.57 1,964
GNR     SPDR S&P Global Natural Resources ETF 0.06 0.11 0.07 160,707 8,322,542 130,929 546 783 28,229 38,880 244 0.88 53,098
CWI     SPDR MSCI ACWI ex-US ETF 0.02 0.06 0.02 140,164 5,471,700 156,732 11,330 8,928 443,873 348,998 213 0.64 57,882
ACIM     SPDR MSCI ACWI IMI ETF 0.56 0.71 0.56 7,396 582,435 7,549 658 626 52,022 49,387 177 0.66 1,336
EFAX     SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.24 0.33 0.24 1,652 119,977 1,864 1,012 1,270 73,717 92,328 120 0.33 267
SPDW     SPDR Portfolio World ex- US ETF 0.01 0.04 0.01 399,731 12,734,919 432,374 14,159 14,087 452,157 446,717 336 0.61 40,328
GWX     SPDR S&P International Small Cap ETF 0.06 0.16 0.05 78,394 2,809,724 88,007 1,108 900 39,720 32,097 207 0.64 7,055
LOWC     SPDR MSCI ACWI Low Carbon Target ETF 0.20 0.22 0.19 7,393 672,136 6,464 261 256 23,645 23,098 208 0.35 5,708
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State Street Global Advisors
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
International Developed Equities — Region/Country
FEZ     SPDR EURO STOXX 50 ETF 0.01 0.02 0.01 3,062,774 124,271,038 3,330,681 45,959 49,057 1,891,611 2,009,165 394 0.80 3,267,591
FEU     SPDR STOXX Europe 50 ETF 0.06 0.18 0.07 34,676 1,225,491 38,617 769 819 27,141 28,745 296 0.64 1,902
SMEZ     SPDR EURO STOXX Small Cap ETF 0.17 0.26 0.16 3,237 204,223 2,997 455 455 28,903 29,306 140 0.45 1,853
Emerging Market Equities
SPEM     SPDR Portfolio Emerging Markets ETF 0.02 0.07 0.03 291,284 10,969,976 331,004 891 858 33,559 33,200 185 0.92 30,402
GMF     SPDR S&P Emerging Asia Pacific ETF 0.23 0.22 0.24 16,576 1,731,591 15,615 564 549 59,040 58,185 128 0.82 12,062
EEMX     SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.29 0.42 0.29 1,710 116,940 2,545 294 297 20,057 20,740 99 0.89 400
EWX     SPDR S&P Emerging Markets Small Cap ETF 0.05 0.11 0.06 53,143 2,687,501 49,229 668 662 33,761 34,188 151 0.79 79,372
GXC     SPDR S&P China ETF 0.12 0.11 0.14 58,300 6,459,023 63,353 313 337 34,753 37,387 121 1.07 19,390
XINA     SPDR MSCI China A Shares IMI ETF 0.10 0.44 0.10 1,912 44,266 3,864 289 287 6,717 6,716 186 0.68 263
Advanced Beta — Income
EDIV     SPDR S&P Emerging Markets Dividend ETF 0.08 0.23 0.08 54,102 1,815,422 58,198 469 459 15,743 15,906 229 1.04 22,551
DWX     SPDR S&P International Dividend ETF 0.03 0.07 0.03 106,218 4,221,037 88,964 718 752 28,629 30,071 324 0.57 2,494
SDY     SPDR S&P Dividend ETF 0.04 0.04 0.03 355,364 32,560,268 472,327 2,493 2,016 228,339 184,817 177 0.82 313,561
WDIV     SPDR S&P Global Dividend ETF 0.09 0.13 0.09 11,471 790,388 11,498 579 582 39,984 40,151 134 0.53 2,917
SPYD     SPDR Portfolio S&P 500 High Dividend ETF 0.01 0.04 0.01 130,417 4,729,795 204,422 4,016 3,477 145,808 125,537 221 0.78 45,333
Advanced Beta — Multi Factor
QCAN     SPDR MSCI Canada StrategicFactors ETF 0.05 0.09 0.05 800 47,624 1,262 1,016 1,001 60,510 58,586 88 0.32 86
QDEU     SPDR MSCI Germany StrategicFactors ETF 0.06 0.09 0.06 385 24,916 803 990 993 63,515 63,809 66 0.10 659
QJPN     SPDR MSCI Japan StrategicFactors ETF 0.23 0.29 0.24 812 65,144 1,213 470 480 37,740 38,282 113 0.15 4,504
QGBR     SPDR MSCI United Kingdom StrategicFactors ETF 0.33 0.60 0.31 13,119 710,844 5,636 676 811 37,095 43,983 951 0.43 513
QEFA     SPDR MSCI EAFE StrategicFactors ETF 0.13 0.20 0.21 13,706 896,697 14,014 912 903 59,643 58,771 161 0.57 950
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State Street Global Advisors
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
Advanced Beta — Multi Factor (cont’d)
QWLD     SPDR MSCI World StrategicFactors ETF 0.17 0.22 0.19 834 63,160 2,152 957 959 72,611 72,333 200 0.15 197
QEMM     SPDR MSCI Emerging Markets StrategicFactors ETF 0.53 0.83 0.43 6,730 427,296 9,206 528 466 33,518 30,154 116 1.08 20,956
QUS     SPDR MSCI USA StrategicFactors ETF 0.13 0.17 0.12 4,199 324,799 6,407 367 305 28,323 23,448 104 0.65 4,812
Advanced Beta — Single Factor
SPYB     SPDR S&P 500 Buyback ETF 0.16 0.25 0.14 2,334 147,075 2,732 5,359 5,693 337,113 356,757 160 0.41 78
VLU     SPDR S&P 1500 Value Tilt ETF 0.31 0.31 0.35 822 83,902 898 2,361 2,461 239,559 248,117 93 0.43 3,732
MMTM     SPDR S&P 1500 Momentum Tilt ETF 0.35 0.29 0.35 1,486 174,678 1,408 894 841 106,105 98,812 91 0.67 2,916
LGLV     SPDR SSGA US Large Cap Low Volatility Index ETF 0.48 0.54 0.38 3,661 327,930 3,949 489 345 43,822 31,042 99 0.82 16,511
SMLV     SPDR SSGA US Small Cap Low Volatility Index ETF 0.23 0.25 0.25 6,341 582,180 7,654 1,346 1,631 123,413 146,706 88 0.78 2,582
ONEY     SPDR Russell 1000 Yield Focus ETF 0.28 0.40 0.30 586 40,800 1,716 279 279 19,416 19,233 61 0.49 7,810
ONEO     SPDR Russell 1000 Momentum Focus ETF 0.15 0.20 0.16 17,110 1,247,113 24,771 599 560 43,779 40,807 153 0.69 33,409
ONEV     SPDR Russell 1000 Low Volatility Focus ETF 0.23 0.31 0.18 1,195 86,063 1,723 517 492 37,227 35,335 119 0.30 4,894
Advanced Beta — Fixed Income
DWFI     SPDR Dorsey Wright Fixed Income Allocation ETF 0.06 0.24 0.05 38,759 933,645 35,843 111 108 268,678 267,824 462 0.56 9,104
CBND     SPDR Bloomberg Barclays Issuer Scored Corporate Bond ETF 0.10 0.33 0.10 9,746 301,504 4,943 882 831 27,288 25,916 1,116 0.23 1,218
Fixed Income — US Government
BIL     SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 0.01 0.01 0.01 1,173,112 107,330,004 1,117,475 3,296,949 2,194,205 301,705,003 200,771,113 1,067 0.01 169,434
ITE     SPDR Bloomberg Barclays Intermediate Term Treasury ETF 0.03 0.04 0.03 37,755 2,203,846 53,045 31,475 17,494 1,833,080 1,020,923 324 0.16 8,103
SPTL     SPDR Portfolio Long Term Treasury ETF 0.02 0.05 0.02 256,951 8,782,294 193,973 14,051 8,100 479,761 277,476 476 0.51 52,154
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STATE STREET GLOBAL ADVISORS
TICKER     ETF NAME SPREAD ($) SPREAD (%) SPREAD ($) VS. 3 MONTH TRAILING CONSOLIDATED AVG. DAILY VOLUME (SHARES) CONSOLIDATED AVERAGE DAILY VOLUME ($) CONSOLIDATED AVG. DAILY VOLUME (SHARES) VS. 3 MONTH TRAILING AVG. QUOTE SIZE (SHARES) AVG. QUOTE SIZE (SHARES) VS. 3 MONTH TRAILING AVG. QUOTE SIZE ($) AVG. QUOTE SIZE ($) VS. 3 MONTH TRAILING AVG. TRADE SIZE DAILY VOLATILITY (%) SHORT INTEREST AS OF 05/15/2018
FIXED INCOME — US GOVERNMENT (CONT’D)
IPE     SPDR BLOOMBERG BARCLAYS TIPS ETF 0.03 0.05 0.03 124,850 6,867,999 98,956 1,916 2,544 105,372 140,641 385 0.24 19,529
SPTS     SPDR PORTFOLIO SHORT TERM TREASURY ETF 0.01 0.04 0.01 135,345 3,993,761 152,808 98,649 45,875 2,910,820 1,354,101 513 0.10 59,659
TIPX     SPDR BLOOMBERG BARCLAYS 1-10 YEAR TIPS ETF 0.02 0.11 0.02 29,395 563,173 41,170 31,795 12,080 608,026 231,054 355 0.18 60,178
FIXED INCOME — US INVESTMENT GRADE CORPORATES
SPSB     SPDR PORTFOLIO SHORT TERM CORPORATE BOND ETF 0.01 0.03 0.01 521,923 15,743,989 741,909 17,969 18,079 541,762 545,267 396 0.12 351,014
SPIB     SPDR PORTFOLIO INTERMEDIATE TERM CORPORATE BOND ETF 0.01 0.03 0.01 822,630 27,376,456 630,171 11,654 9,743 387,123 324,782 618 0.19 94,764
SPLB     SPDR PORTFOLIO LONG TERM CORPORATE BOND ETF 0.01 0.05 0.01 177,580 4,674,770 163,406 1,762 1,703 46,232 45,382 326 0.43 9,185
FLRN     SPDR BLOOMBERG BARCLAYS INVESTMENT GRADE FLOATING RATE ETF 0.01 0.03 0.01 1,014,397 31,208,285 941,438 49,694 35,660 1,529,038 1,096,532 567 0.08 175,094
FIXED INCOME — HIGH YIELD
JNK     SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF 0.01 0.03 0.01 11,344,299 405,001,495 12,048,306 104,365 90,479 3,725,885 3,242,557 540 0.24 55,775,460
SJNK     SPDR BLOOMBERG BARCLAYS SHORT TERM HIGH YIELD BOND ETF 0.01 0.04 0.01 1,966,889 53,800,416 2,193,906 38,089 33,672 1,041,952 921,788 458 0.22 1,555,640
CJNK     SPDR ICE BOFAML CROSSOVER CORPORATE BOND ETF 0.12 0.48 0.13 22,624 576,872 16,175 493 452 12,569 11,568 302 0.49 31,427
FIXED INCOME — US MORTGAGE
MBG     SPDR BLOOMBERG BARCLAYS MORTGAGE BACKED BOND ETF 0.04 0.17 0.06 75,582 1,904,313 74,963 4,480 4,328 113,193 109,883 897 0.29 4,321
FIXED INCOME — US AGGREGATE
SPAB     SPDR PORTFOLIO AGGREGATE BOND ETF 0.01 0.04 0.01 466,458 12,942,061 640,940 12,452 13,761 345,359 384,011 366 0.20 291,672
FIXED INCOME — HYBRIDS
CWB     SPDR BLOOMBERG BARCLAYS CONVERTIBLE SECURITIES ETF 0.01 0.02 0.01 1,064,225 56,137,423 1,260,094 2,086 2,003 110,203 104,871 224 0.73 1,328,520
PSK     SPDR WELLS FARGO PREFERRED STOCK ETF 0.04 0.08 0.04 63,544 2,716,108 53,717 521 489 22,250 21,025 227 0.35 36,980
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State Street Global Advisors
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
Fixed Income — Municipal
SHM     SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF 0.01 0.02 0.01 534,106 25,479,713 500,211 8,105 6,680 386,570 318,935 548 0.12 108,817
TFI     SPDR Nuveen Bloomberg Barclays Municipal Bond ETF 0.02 0.03 0.02 603,147 28,851,240 563,755 3,297 2,206 157,626 105,437 95 0.23 391,582
HYMB     SPDR Nuveen S&P High Yield Municipal Bond ETF 0.07 0.13 0.08 64,102 3,582,315 56,946 556 621 31,122 34,592 257 0.33 126,819
Fixed Income — International
WIP     SPDR Citi International Government Inflation-Protected Bond ETF 0.06 0.11 0.07 116,640 6,516,029 93,896 428 457 23,838 26,413 271 0.54 48,340
BWZ     SPDR Bloomberg Barclays Short Term International Treasury Bond ETF 0.12 0.39 0.12 36,729 1,173,500 43,905 733 752 23,325 24,526 324 0.58 49,315
BWX     SPDR Bloomberg Barclays International Treasury Bond ETF 0.01 0.04 0.01 1,082,034 30,624,341 1,082,069 2,761 2,268 77,919 65,336 450 0.38 27,390
IBND     SPDR Bloomberg Barclays International Corporate Bond ETF 0.11 0.32 0.11 99,526 3,414,097 99,302 712 603 24,406 21,277 279 0.73 94,996
EBND     SPDR Bloomberg Barclays Emerging Markets Local Bond ETF 0.02 0.07 0.02 485,651 13,661,596 286,928 3,718 3,404 105,462 100,068 1,526 0.53 133,502
Commodity
GLD®     SPDR Gold Trust® 0.01 0.01 0.01 6,224,488 768,452,716 6,702,783 14,560 12,356 1,797,943 1,545,351 237 0.52 11,747,448
NANR     SPDR S&P North American Natural Resources ETF 0.05 0.13 0.05 37,081 1,350,613 29,722 1,954 2,026 70,333 70,594 482 0.92 1,186
Active — Asset Allocation
RLY     SPDR SSGA Multi-Asset Real Return ETF 0.08 0.31 0.08 21,429 579,989 25,651 4,785 5,169 129,632 136,844 196 0.72 19,607
INKM     SPDR SSGA Income Allocation ETF 0.07 0.22 0.07 5,537 181,149 7,526 11,851 11,637 388,200 382,341 297 0.30 6
GAL     SPDR SSGA Global Allocation ETF 0.13 0.33 0.14 13,540 519,103 14,832 6,826 8,564 261,807 328,087 230 0.62 3,116
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State Street Global Advisors
Ticker     ETF Name Spread ($) Spread (%) Spread ($) vs. 3 month trailing Consolidated Avg. Daily Volume (shares) Consolidated Average Daily Volume ($) Consolidated Avg. Daily Volume (shares) vs. 3 month trailing Avg. Quote Size (shares) Avg. Quote Size (Shares) vs. 3 month trailing Avg. Quote Size ($) Avg. Quote Size ($) vs. 3 month trailing Avg. Trade Size Daily Volatility (%) Short Interest as of 05/15/2018
Active — Equity
SYE     SPDR MFS Systematic Core Equity ETF 0.21 0.27 0.19 9,401 709,335 5,680 447 376 33,784 28,174 207 0.79 11,533
SYG     SPDR MFS Systematic Growth Equity ETF 0.28 0.35 0.23 1,556 126,577 3,132 253 316 20,591 25,443 108 0.40 601
SYV     SPDR MFS Systematic Value Equity ETF 0.24 0.36 0.26 4,281 287,815 6,490 608 593 40,983 39,517 95 0.73 6,137
Active — Fixed Income
TOTL     SPDR DoubleLine Total Return Tactical ETF 0.02 0.04 0.02 270,274 12,797,007 282,173 6,474 6,640 306,520 315,616 346 0.18 79,685
EMTL     SPDR DoubleLine Emerging Markets Fixed Income ETF 0.14 0.29 0.13 3,317 161,545 3,531 2,137 2,061 104,058 101,088 100 0.23 638
STOT     SPDR DoubleLine Short Duration Total Return Tactical ETF 0.12 0.25 0.12 36,436 1,777,980 16,468 3,069 2,380 149,784 116,326 127 0.19 9,820
SRLN     SPDR Blackstone / GSO Senior Loan ETF 0.01 0.02 0.01 577,205 27,279,312 589,441 12,677 11,046 599,176 522,698 382 0.06 137,125
ULST     SPDR SSGA Ultra Short Term Bond ETF 0.03 0.08 0.03 7,604 306,163 9,133 3,071 4,129 123,654 166,154 235 0.09 7,091
Source: NYSE, Nasdaq and BATS as of 05/31/2018. Past performance is not a guarantee of future results.
Prior to 10/16/2017, the SPDR Portfolio Total Stock Market ETF (SPTM) was known as the SPDR Russell 3000® ETF (THRK), the SPDR Portfolio Large Cap ETF (SPLG) was known as the SPDR Russell 1000® ETF (ONEK), the SPDR Portfolio Mid Cap ETF (SPMD) was known as the SPDR S&P 1000® ETF (SMD), the SPDR Portfolio Small Cap ETF (SPSM) was known as the SPDR Russell 2000® ETF (TWOK), the SPDR Portfolio S&P 500 Growth ETF (SPYG) was known as the SPDR S&P 500 Growth ETF (SPYG), the SPDR Portfolio S&P 500 Value ETF (SPYV) was known as the SPDR S&P 500 Value ETF (SPYV), the SPDR Portfolio S&P 500 High Dividend ETF (SPYD) was known as the SPDR S&P 500 High Dividend ETF (SPYD), the SPDR Portfolio Developed World ex-US ETF (SPDW) was known as the SPDR S&P World ex-US ETF (GWL), the SPDR Portfolio Emerging Markets ETF (SPEM) was known as the SPDR S&P Emerging Markets ETF (GMM), the SPDR Portfolio Aggregate Bond ETF (SPAB) was known as the SPDR Bloomberg Barclays Aggregate Bond ETF (BNDS), the SPDR Portfolio Short Term Corporate Bond ETF (SPSB) was known as the SPDR Bloomberg Barclays Short Term Corporate Bond ETF (SCPB), the SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) was known as the SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF (ITR), the SPDR Portfolio Long Term Corporate Bond ETF (SPLB) was known as the SPDR Bloomberg Barclays Long Term Corporate Bond ETF (LWC), the SPDR Portfolio Short Term Treasury ETF (SPTS) was known as the SPDR Bloomberg Barclays Short Term Treasury ETF (SST), and the SPDR Portfolio Long Term Treasury ETF (SPTL) was known as the SPDR Bloomberg Barclays Long Term Treasury ETF (TLO).
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State Street Global Advisors
ssga.com | spdrs.com
State Street Global Advisors One Iron Street, Boston MA 02210. T: +1 866 787 2257.
Important Risk Information
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.
While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.
Commodities and commodity-index linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as trading activity of speculators and arbitrageurs in the underlying commodities.
Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.
Diversification does not ensure a profit or guarantee against loss.
Investing in commodities entails significant risk and is not appropriate for all investors.
Important Information Relating to SPDR Gold Trust (“GLD®”):
The SPDR Gold Trust (“GLD®”) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents GLD has filed with the SEC for more complete information about GLD and this offering. Please see the GLD prospectus for a detailed discussion of the risks of investing in GLD shares. When distributed electronically, the GLD prospectus is available by clicking here. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus if you request it by calling 866.320.4053.
GLD is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and is not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders of the Trust do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.
GLD shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value of GLD shares relates directly to the value of the gold held by GLD (less its expenses), and fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLD does not generate any income, and as GLD regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Share will decline over time to that extent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
For more information, please contact the Marketing Agent for GLD: State Street Global Advisors Funds Distributors, LLC, One Iron Street, Boston MA 02210; T: +1 866 320 4053 spdrgoldshares.com.
The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data.
State Street Global Advisors and SSGA are registered trademarks of State Street Corporation.
There is no relationship between Dorsey Wright & Associates, LLC (collectively with its parent companies and affiliates, “Dorsey Wright”) and State Street Global Advisors (“SSGA”) other than a license by Dorsey Wright to SSGA of certain Dorsey Wright trademarks and trade names, and the Dorsey Wright Fixed Income Rotation Index (“Index”), for use by SSGA.
BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licenzed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., member FINRA, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc., member FINRA, is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State State Street Global Advisors Funds Distributors, LLC.
State Street Global Advisors Funds Distributors, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained Nuveen Asset Management, LLC as the sub-advisor to certain of such funds. State Street Global Advisors Funds Distributors, LLC is not affiliated with Nuveen Asset Management, LLC.
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit spdrs.com. Read it carefully.
© 2018 State Street Corporation. All Rights Reserved.
ID13216-2081238.5.1.NA.INST 0618 Exp. Date: 06/30/2019 SPD001658 SPDR® ETF Trading Report

SPDR® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Advisors Funds Distributors, LLC, One Lincoln Street, Attn: SPDR® Gold Shares, 30th Floor, Boston, MA 02111.