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SPDR S&P China ETF (GXC)
Fund Objective Why was this benchmark selected?

The SPDR® S&P China ETF, before expenses, seeks to closely match the returns and characteristics of the total return performance of the S&P®/Citigroup® BMI China Index (ticker: STBCCNU)

Ordinary brokerage commissions may apply.

  Market Price
  As of 07/03/2008
  Closing Price $64.70  
  Bid/Ask $64.75  
  Premium/Discount 14.59%  
  Day High $65.07  
  Day Low $63.87  
  Exchange Volume (shares) 5,800  
  Premium Discount to Nav Chart
  Net Asset Value
  As of 07/03/2008
  Price $64.53  
  Shares Outstanding 2,200,000  
  Total Net Assets $141,972,254.31  
  Most Recent NAV / NAV History
  Performance  
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.

  Fund Before Taxes      Fund After Taxes
Month End Performance
Total Return * Index Market Value NAV
  As of 05/31/2008 As of 05/31/2008 As of 05/31/2008
QTD 10.72%   12.44%   11.96%  
YTD -16.58%   -13.87%   -15.72%  
Annualized      
1 Year 26.74%   30.69%   28.92%  
3 Year N/A   N/A   N/A  
5 Year N/A   N/A   N/A  
Since Inception 37.43%   40.07%   39.36%  
Quarter End Performance
Total Return Index Market Value NAV
  As of 03/31/2008 As of 03/31/2008 As of 03/31/2008
QTD -24.65%   -23.40%   -24.72%  
YTD -24.65%   -23.40%   -24.72%  
Annualized      
1 Year 29.57%   29.82%   28.43%  
3 Year N/A   N/A   N/A  
5 Year N/A   N/A   N/A  
Since Inception 31.38%   32.03%   31.80%  
Fund Inception Date: 03/19/2007
Top Holdings ‡
As of 07/03/2008
Security Name Shares
Held
Fund
Weight
China Mobile Ltd 1,534,500 14.31%
China Const Bk 10,947,000 5.85%
Cnooc Ltd 4,615,000 5.71%
Petrochina Co 6,514,000 5.70%
China Life Insuran 2,366,000 5.50%
Ind & Com Bk China 11,020,000 5.06%
China Petroleum & 5,622,000 3.52%
China Shenhua Ener 1,052,500 2.74%
Bank Of China Ltd 7,588,000 2.33%
Ping An Insurance 455,500 2.04%
View/Download All Holdings
  Top Sectors
  As of 07/03/2008
        View/Download All Holdings  
  Country Weights
  As of 07/03/2008
  China 97.61%       Singapore 0.45%  
  United States 1.06%       Cayman Islands 0.34%  
  Hong Kong 0.53%            
  Fund Characteristics
  As of 07/03/2008
  Dividend Yield 0.69%  
  FY1 P/E Ratio 14.08  
  Number of Holdings 120  
  Price/Book Ratio 2.69  
  Weighted Average Market Cap $M $61,913.62  
  Fund Information
  As of 07/04/2008
  Ticker Symbol GXC  
  CUSIP 78463X400  
  Marginable Yes  
  Short Selling Allowed Yes  
  Gross Expense Ratio 0.60%  
  Inception Date 03/19/2007  
  Primary Benchmark S&P/Citigroup BMI China Index  
  Investment Manager SSgA Funds Management, Inc.  
  Management Team ETF Management Team  
  Distributor State Street Global Markets, LLC  
  Distribution Frequency Semi-Annually  
  Fund Documents
  Quarterly Fund Fact Sheet (.pdf)
  Fund Prospectus (.pdf)
  Statement of Additional Information (.pdf)
  Fund Semi-Annual Report (.pdf)
  Fund Annual Report (.pdf)
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‡ Subject to Change

Index returns do not represent actual ETF performance and are for illustration purposes only. Index performance does not reflect charges and expenses associated with the fund or brokerage commissions associated with buying and selling exchange traded funds. It is not possible to invest directly in an index.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.

Non-diversified funds that focus on a relatively small number of stocks/issuers tend to be more volatile than diversified funds and the market as a whole.

After tax returns presented above may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.        

 Average annual total return and total return are historical and include change in share value and reinvestment of dividends and capital gains , if any.

Except where indicated, all information is as of date noted and source of data is SSgA research.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only, please see the prospectus for more details.

In addition to normal risks associated with equity investing, international investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, and from adverse political, social and economic instability in other nations.

Shares of the ETFs 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.

S&P® is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by State Street Bank and Trust Company. The Citigroup Mark is a trademark of Citigroup Global Markets Inc. and has been licensed for use by Standard & Poor’s.  The products are not sponsored, endorsed, sold or promoted by Standard & Poor’s, and neither Standard & Poor’s nor Citigroup Global Markets Inc. makes any representation regarding the advisability of investing in the Fund.

The “SPDR®” trademark is used under license from The McGraw-Hill Companies, Inc. (“McGraw-Hill”). No financial product offered by state Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw Hill. Standard & Poor's®, S&P®, S&P 500®, Select Sector SPDR®, Select Sector SPDRs® are trademarks of The McGraw-Hill Compan