State Street SPDR Portfolio Short Term Treasury ETF (SPTS)

The State Street SPDR Portfolio Short Term Treasury ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the short term sector of the United States Treasury market.

The Fund's principal investment strategy is to track the performance of the Bloomberg 1-3 Year U.S. Treasury Index. It employs a sampling strategy, meaning it is not required to purchase all securities in the Index, but instead may purchase a subset to hold a portfolio with generally the same risk and return characteristics. The Adviser determines whether to invest in a subset or substantially all of the securities represented in the Index in approximately the same proportions. Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in securities comprising the Index and in securities that the Adviser determines have substantially identical economic characteristics. The Fund may also invest in debt securities not included in the Index, as well as in cash, cash equivalents, or money market instruments. The quantity of holdings is based on factors including the Fund's asset size, as determined by SSGA Funds Management, Inc. (the Adviser).