SPDR Biotech ETF (XBI)

The investment objective of the SPDR S&P Biotech ETF is to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the biotechnology segment of a U.S. total market composite index.

The fund employs a sampling strategy to track the performance of the S&P Biotechnology Select Industry Index. This means that the fund is not required to purchase all of the securities represented in the Index. Instead, the fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index.