{"annotation_id":"85c6097a-e5ea-4f77-b08d-82aa3ad139f3","file_hash":"6023f8fa0aa8fb561e66911d666eb76a9123cc6c5e98faecfd868ce62f8a45bd","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"b2552860-4651-40df-b93a-b5a593aec633","block_type":"box","text":"1","page_number":1,"box":{"x":518,"y":961,"width":3,"height":8}},{"id":"91e41e44-1dcd-4563-8a37-c488a44d503f","block_type":"box","text":"State Street","page_number":1,"box":{"x":59,"y":73,"width":214,"height":20}},{"id":"fabe2341-32f3-4370-9f2c-170667c87db5","block_type":"box","text":"®","page_number":1,"box":{"x":275,"y":71,"width":8,"height":7}},{"id":"a1d40c8c-d712-42cc-9b58-5aec76b73ade","block_type":"box","text":"Consumer","page_number":1,"box":{"x":284,"y":73,"width":198,"height":20}},{"id":"f05c6905-954d-4ae4-b147-f83b9a31018d","block_type":"box","text":"Discretionary Select","page_number":1,"box":{"x":60,"y":111,"width":367,"height":25}},{"id":"ea99513b-10fe-407b-8cd8-f79ddf08fc29","block_type":"box","text":"Sector SPDR","page_number":1,"box":{"x":59,"y":148,"width":226,"height":21}},{"id":"b1a9a091-64f5-49ef-a915-d73be15421fc","block_type":"box","text":"®","page_number":1,"box":{"x":287,"y":146,"width":9,"height":7}},{"id":"39f02ae5-8e81-4f90-ae83-0b4dece5a0e4","block_type":"box","text":"ETF","page_number":1,"box":{"x":296,"y":149,"width":79,"height":20}},{"id":"602845d2-8088-4105-8539-cd712586e535","block_type":"box","text":"XLY","page_number":1,"box":{"x":514,"y":73,"width":72,"height":20}},{"id":"960fcfe2-8c3c-4220-91d7-7e4a197b672e","block_type":"box","text":"Fact Sheet","page_number":1,"box":{"x":743,"y":50,"width":84,"height":10}},{"id":"8899f15a-2547-45a0-accf-8ae8e3266e8f","block_type":"box","text":"Equity","page_number":1,"box":{"x":743,"y":72,"width":55,"height":13}},{"id":"ea2ceaef-78fe-4083-8501-dc8cbaf7dc88","block_type":"box","text":"As of 09/30/2026","page_number":1,"box":{"x":742,"y":114,"width":153,"height":12}},{"id":"8b0ae1aa-1ea8-40f2-9a3b-4156eb25f6b7","block_type":"box","text":"Key Features","page_number":1,"box":{"x":59,"y":249,"width":89,"height":10}},{"id":"f2082ce0-26b0-4683-9bf8-71925703fc2d","block_type":"box","text":"•","page_number":1,"box":{"x":59,"y":283,"width":4,"height":3}},{"id":"272bfb1e-6ab5-4f85-9486-23e6a2845aac","block_type":"box","text":"The State Street","page_number":1,"box":{"x":80,"y":279,"width":107,"height":9}},{"id":"dcee9b63-b693-40e8-b40f-3eceaf378648","block_type":"box","text":"®","page_number":1,"box":{"x":187,"y":278,"width":4,"height":3}},{"id":"f6713fc5-6dc5-4c6e-9763-7fe66b02efea","block_type":"box","text":"Consumer Discretionary Select Sector","page_number":1,"box":{"x":191,"y":279,"width":256,"height":10}},{"id":"4d66dc11-b106-4dce-8efd-e6cd62261797","block_type":"box","text":"SPDR","page_number":1,"box":{"x":80,"y":294,"width":38,"height":9}},{"id":"d33123a3-0b8e-4426-aff7-9b60bffce6fd","block_type":"box","text":"®","page_number":1,"box":{"x":119,"y":294,"width":3,"height":2}},{"id":"8d527cb1-cf0b-4be0-b746-0107406b2930","block_type":"box","text":"ETF seeks to provide investment results that, before","page_number":1,"box":{"x":122,"y":294,"width":342,"height":11}},{"id":"fa5b2b42-b9cd-480a-8306-a7bfd70fc543","block_type":"box","text":"expenses, correspond generally to the price and yield","page_number":1,"box":{"x":81,"y":310,"width":345,"height":10}},{"id":"caa902e0-3008-453d-bb62-cd3b28384b80","block_type":"box","text":"performance of the Consumer Discretionary Select Sector","page_number":1,"box":{"x":81,"y":325,"width":380,"height":10}},{"id":"d19b0c52-29a8-4414-8f5c-89c0cb3f25a7","block_type":"box","text":"Index (the \"Index\")","page_number":1,"box":{"x":81,"y":340,"width":115,"height":9}},{"id":"f266cef3-e634-4a46-b00b-bbbdeba71133","block_type":"box","text":"•","page_number":1,"box":{"x":59,"y":358,"width":4,"height":3}},{"id":"6455de07-c777-40d0-b04b-fb8a891396a8","block_type":"box","text":"The Index seeks to provide an effective representation of the","page_number":1,"box":{"x":80,"y":355,"width":393,"height":10}},{"id":"ebf2938f-4af4-4341-9fd3-a2c6061baa51","block_type":"box","text":"consumer discretionary sector of the S&P 500 Index","page_number":1,"box":{"x":81,"y":370,"width":338,"height":10}},{"id":"7ab30c3a-5e9a-4b00-8d66-c6888223013d","block_type":"box","text":"•","page_number":1,"box":{"x":59,"y":389,"width":4,"height":3}},{"id":"eb32da3a-6a48-4309-ab31-abc81c47095f","block_type":"box","text":"Seeks to provide precise exposure to companies in specialty","page_number":1,"box":{"x":80,"y":385,"width":393,"height":11}},{"id":"733e649d-0366-45d3-908e-f1edf8caf914","block_type":"box","text":"retail; broadline retail; hotels, restaurants and leisure; textiles,","page_number":1,"box":{"x":81,"y":401,"width":392,"height":9}},{"id":"f7aa46a2-3763-492c-a5b3-28e6050b069b","block_type":"box","text":"apparel and luxury goods; household durables; automobiles;","page_number":1,"box":{"x":81,"y":416,"width":387,"height":10}},{"id":"4b1d151a-e3e9-4cff-8a28-3e2b3e784013","block_type":"box","text":"automobile components; distributors; leisure products; and","page_number":1,"box":{"x":81,"y":431,"width":381,"height":10}},{"id":"09980f3e-d1f5-4057-aa1b-e49e303ad455","block_type":"box","text":"diversified consumer services.","page_number":1,"box":{"x":81,"y":446,"width":194,"height":8}},{"id":"ff64832a-76ed-4439-86c5-50d601c2dee5","block_type":"box","text":"•","page_number":1,"box":{"x":59,"y":464,"width":4,"height":3}},{"id":"3a3a709a-ad03-45c3-bf30-434634958fb4","block_type":"box","text":"Allows investors to take strategic or tactical positions at a","page_number":1,"box":{"x":80,"y":461,"width":372,"height":10}},{"id":"64cc4746-6c7e-458e-865a-f3fe05194454","block_type":"box","text":"more targeted level than traditional style based investing","page_number":1,"box":{"x":81,"y":476,"width":363,"height":11}},{"id":"12761eec-b3fd-42fe-a96a-80fcaba9e687","block_type":"box","text":"•","page_number":1,"box":{"x":59,"y":495,"width":4,"height":3}},{"id":"e67f4e5b-d378-4266-84ae-d26a0d772eaf","block_type":"box","text":"Ordinary brokerage commissions may apply","page_number":1,"box":{"x":81,"y":491,"width":284,"height":11}},{"id":"4dc4be51-c963-452b-9d55-cb415c127898","block_type":"box","text":"About This Benchmark","page_number":1,"box":{"x":58,"y":537,"width":161,"height":8}},{"id":"48f57dbb-6cfb-4835-ab95-7e138e675619","block_type":"box","text":"The companies included in each Select Sector Index are selected","page_number":1,"box":{"x":59,"y":567,"width":423,"height":10}},{"id":"bed68bd0-56a9-47a5-8d4f-6ec0c1e5ef8a","block_type":"box","text":"on the basis of general industry classification from a universe of","page_number":1,"box":{"x":59,"y":582,"width":409,"height":11}},{"id":"62166c57-8726-4bd2-8586-a713f99c3b49","block_type":"box","text":"companies defined by the Standard & Poor's 500 Composite","page_number":1,"box":{"x":59,"y":597,"width":395,"height":11}},{"id":"bef6c801-7987-4bc5-9f15-9b396f137603","block_type":"box","text":"Stock","page_number":1,"box":{"x":59,"y":613,"width":37,"height":8}},{"id":"5d72872d-2fb6-4755-ad95-aef0ef5b1e3d","block_type":"box","text":"®","page_number":1,"box":{"x":97,"y":612,"width":3,"height":2}},{"id":"7318f7fa-0327-4dcc-b1d3-3b765f26a697","block_type":"box","text":"Index (\"S&P 500","page_number":1,"box":{"x":100,"y":612,"width":110,"height":10}},{"id":"450f854d-3afb-4e21-ad44-03a08fd5b00a","block_type":"box","text":"®","page_number":1,"box":{"x":211,"y":612,"width":3,"height":2}},{"id":"a33c3e03-ce04-4006-b8b7-52a2782513e5","block_type":"box","text":"\"). The eleven Select Sector Indexes","page_number":1,"box":{"x":215,"y":612,"width":233,"height":10}},{"id":"06bb9f53-788e-4f4a-b8f1-1cc110c7280f","block_type":"box","text":"(each a \"Select Sector Index\") upon which the Select Sector","page_number":1,"box":{"x":59,"y":628,"width":385,"height":10}},{"id":"04bb5889-5589-4bdb-8111-c28e620a2d4d","block_type":"box","text":"SPDR Funds are based together comprise all of the companies in","page_number":1,"box":{"x":59,"y":643,"width":420,"height":10}},{"id":"c7007f7d-9b26-46b0-be65-53d78eaf939d","block_type":"box","text":"the S&P 500.","page_number":1,"box":{"x":58,"y":658,"width":85,"height":8}},{"id":"fd1da8c3-064b-4909-bb35-695559ca5267","block_type":"box","text":"The Consumer Discretionary Select Sector Index includes","page_number":1,"box":{"x":59,"y":688,"width":373,"height":11}},{"id":"6c14df25-2507-4dd7-b348-6835d3761176","block_type":"box","text":"companies from the following industries: specialty retail; broadline","page_number":1,"box":{"x":59,"y":704,"width":422,"height":10}},{"id":"7e2e4679-3a2b-43d0-b679-ac13be69abc8","block_type":"box","text":"retail; hotels, restaurants and leisure; textiles, apparel and luxury","page_number":1,"box":{"x":59,"y":719,"width":410,"height":10}},{"id":"25dadb7e-ce2f-45b9-96eb-9ce601e118d8","block_type":"box","text":"goods; household durables; automobiles; automobile components;","page_number":1,"box":{"x":58,"y":734,"width":425,"height":10}},{"id":"b11f54b0-4121-4bcb-8fa8-d1048d27847c","block_type":"box","text":"distributors; leisure products; and diversified consumer services.","page_number":1,"box":{"x":59,"y":749,"width":413,"height":10}},{"id":"d559e509-4cda-48e8-9a51-6c395922c9b4","block_type":"box","text":"Fund Information","page_number":1,"box":{"x":59,"y":788,"width":94,"height":7}},{"id":"6af94b6d-f446-421f-ac61-6e6a274e160e","block_type":"box","text":"Inception Date","page_number":1,"box":{"x":59,"y":805,"width":75,"height":8}},{"id":"762bdd3f-cd8c-46fe-a175-57468acd8063","block_type":"box","text":"12/16/1998","page_number":1,"box":{"x":224,"y":805,"width":69,"height":8}},{"id":"d78866fc-a1d8-4989-aaed-b7b4653d2165","block_type":"box","text":"CUSIP","page_number":1,"box":{"x":59,"y":823,"width":33,"height":7}},{"id":"fe6d7237-4c17-40b2-a316-4356aef76ebb","block_type":"box","text":"81369Y407","page_number":1,"box":{"x":223,"y":823,"width":69,"height":7}},{"id":"3e134e6b-af65-4204-bcb3-f18cf49dc9f1","block_type":"box","text":"Total Return (As of 09/30/2026)","page_number":1,"box":{"x":515,"y":243,"width":177,"height":8}},{"id":"b1796c98-b6c7-4439-a704-bbb1bfdb3346","block_type":"box","text":"NAV","page_number":1,"box":{"x":726,"y":260,"width":24,"height":7}},{"id":"90a3ef80-3530-44be-baa6-ed7eba866b86","block_type":"box","text":"(%)","page_number":1,"box":{"x":732,"y":271,"width":18,"height":8}},{"id":"90521bf8-4846-488b-bed0-045b76f81488","block_type":"box","text":"Market Value","page_number":1,"box":{"x":769,"y":260,"width":72,"height":7}},{"id":"ad035f09-7417-454f-8c6c-db1bc5ef90b2","block_type":"box","text":"(%)","page_number":1,"box":{"x":823,"y":271,"width":18,"height":8}},{"id":"3ddb5cff-6d4a-4167-a2ab-86a9eb1812d0","block_type":"box","text":"Index","page_number":1,"box":{"x":903,"y":260,"width":30,"height":7}},{"id":"56810383-1cb8-4576-8f91-d5990e310dcd","block_type":"box","text":"(%)","page_number":1,"box":{"x":915,"y":271,"width":18,"height":8}},{"id":"6d320da8-db4e-42e7-b440-2843e86c1e80","block_type":"box","text":"Cumulative","page_number":1,"box":{"x":515,"y":289,"width":63,"height":6}},{"id":"f7b67730-81c3-494c-add0-276c6dd0212c","block_type":"box","text":"QTD","page_number":1,"box":{"x":515,"y":307,"width":23,"height":7}},{"id":"5f228ec3-912b-40fe-80c4-0d261b3f00d4","block_type":"box","text":"-7.01","page_number":1,"box":{"x":719,"y":307,"width":30,"height":7}},{"id":"5b017603-0cae-4fa4-8986-501ef2221cfa","block_type":"box","text":"-6.97","page_number":1,"box":{"x":810,"y":307,"width":31,"height":7}},{"id":"c3279f5b-ed7b-4a8b-a3eb-f51e2b8cf294","block_type":"box","text":"-7.02","page_number":1,"box":{"x":902,"y":307,"width":30,"height":7}},{"id":"bdff1536-d3c8-496b-bd33-31fcb0cabc5d","block_type":"box","text":"YTD","page_number":1,"box":{"x":514,"y":325,"width":24,"height":7}},{"id":"335008df-4bb4-4222-9060-6c2a033ddb80","block_type":"box","text":"-8.27","page_number":1,"box":{"x":719,"y":325,"width":30,"height":7}},{"id":"681f2754-dea8-44e5-8d5a-da7830994d5c","block_type":"box","text":"-8.26","page_number":1,"box":{"x":810,"y":325,"width":31,"height":7}},{"id":"1c0051fb-e7b5-42b1-8cec-0a57d34243c1","block_type":"box","text":"-8.25","page_number":1,"box":{"x":902,"y":325,"width":30,"height":7}},{"id":"768c178f-74c1-444e-a885-d138e5b5ec71","block_type":"box","text":"Annualised","page_number":1,"box":{"x":514,"y":344,"width":63,"height":7}},{"id":"38087a23-5dba-472c-91e7-1c5b47f601e6","block_type":"box","text":"1 Year","page_number":1,"box":{"x":516,"y":362,"width":32,"height":7}},{"id":"d39b4c9c-3bde-4051-857a-e9300ec3bf15","block_type":"box","text":"-8.43","page_number":1,"box":{"x":719,"y":362,"width":30,"height":7}},{"id":"bd1b61c6-78a1-4b2a-aaa5-a61b0bcda9c7","block_type":"box","text":"-8.39","page_number":1,"box":{"x":810,"y":362,"width":31,"height":7}},{"id":"c3d347b6-ca6f-4dd4-91e2-aef1371d8a01","block_type":"box","text":"-8.39","page_number":1,"box":{"x":902,"y":362,"width":30,"height":7}},{"id":"8d7e848b-018d-4877-a8cb-c9f14c17e20c","block_type":"box","text":"3 Year","page_number":1,"box":{"x":515,"y":380,"width":33,"height":7}},{"id":"5d546357-2ec1-4562-97f8-6b5701a670a0","block_type":"box","text":"11.49","page_number":1,"box":{"x":716,"y":380,"width":33,"height":7}},{"id":"0c5ae9c6-e85e-4a09-b03d-ca594fca8736","block_type":"box","text":"11.50","page_number":1,"box":{"x":808,"y":380,"width":33,"height":7}},{"id":"b8bcfbe3-9a3b-4b83-a9d2-2640abdaccd5","block_type":"box","text":"11.60","page_number":1,"box":{"x":899,"y":380,"width":34,"height":7}},{"id":"f94f2487-adc5-4a53-9c84-591e15063b95","block_type":"box","text":"5 Year","page_number":1,"box":{"x":515,"y":399,"width":33,"height":6}},{"id":"1e25c748-bfe5-424c-a3e8-69b031489daf","block_type":"box","text":"4.80","page_number":1,"box":{"x":723,"y":398,"width":27,"height":7}},{"id":"978fe6a2-f078-4668-8429-c9fee98e9075","block_type":"box","text":"4.80","page_number":1,"box":{"x":815,"y":398,"width":26,"height":7}},{"id":"0e087cf2-8540-465c-b4ac-9388755dc4ed","block_type":"box","text":"4.88","page_number":1,"box":{"x":906,"y":398,"width":26,"height":7}},{"id":"d41e5180-f3b7-4138-8aa1-55f7084f9e86","block_type":"box","text":"10 Year","page_number":1,"box":{"x":516,"y":417,"width":40,"height":6}},{"id":"185a98f3-a1dd-4cd2-a094-d2a35a4af36d","block_type":"box","text":"11.65","page_number":1,"box":{"x":716,"y":417,"width":33,"height":6}},{"id":"73c6c2ac-a479-4ca1-a732-759a9761659a","block_type":"box","text":"11.65","page_number":1,"box":{"x":808,"y":417,"width":33,"height":6}},{"id":"2ee25478-8265-4b5c-bfeb-60aedf1894aa","block_type":"box","text":"11.78","page_number":1,"box":{"x":899,"y":417,"width":33,"height":6}},{"id":"8a4801db-6737-43cf-84af-2b2d996619b3","block_type":"box","text":"Gross Expense Ratio (%)","page_number":1,"box":{"x":515,"y":454,"width":134,"height":8}},{"id":"32dff1da-76c1-42a4-bbaa-64d3c0496a5f","block_type":"box","text":"0.08","page_number":1,"box":{"x":906,"y":454,"width":26,"height":7}},{"id":"a675c68c-bdb7-4e17-a332-370862902a0b","block_type":"box","text":"30 Day SEC Yield (%)","page_number":1,"box":{"x":514,"y":472,"width":117,"height":8}},{"id":"743a55c7-d58f-4284-b691-ad44a2fbe8e5","block_type":"box","text":"0.90","page_number":1,"box":{"x":906,"y":472,"width":27,"height":7}},{"id":"efc7a8eb-ff74-4869-a63a-0af2935b9934","block_type":"box","text":"Performance data quoted represents past performance and is no","page_number":1,"box":{"x":515,"y":493,"width":366,"height":8}},{"id":"a1c5d424-9634-406b-a9fc-20fda6bd82b5","block_type":"box","text":"guarantee of future results. Current performance may be lower or higher","page_number":1,"box":{"x":514,"y":504,"width":408,"height":8}},{"id":"61b55288-ddc8-44b8-9ded-922b1823ef43","block_type":"box","text":"than the performance data quoted. Investment return and principal value","page_number":1,"box":{"x":514,"y":515,"width":413,"height":9}},{"id":"e6fafa8e-cfe5-4cc9-bf97-ea9497230dcd","block_type":"box","text":"will fluctuate so that the investor's shares, when redeemed, may be worth","page_number":1,"box":{"x":514,"y":527,"width":411,"height":8}},{"id":"03745111-aa87-4121-acf8-66eb34ad7b79","block_type":"box","text":"more or less than the original cost. All results assume the reinvestment","page_number":1,"box":{"x":515,"y":538,"width":397,"height":8}},{"id":"11455656-f7fd-4984-946c-1cecfcfbce0f","block_type":"box","text":"of dividends and capital gains. Performance is shown net of any fees.","page_number":1,"box":{"x":514,"y":550,"width":385,"height":8}},{"id":"d0d8dbc0-bf6a-4975-8b49-1db1bb02ee57","block_type":"box","text":"Periods of less than one year are not annualized. Visit","page_number":1,"box":{"x":515,"y":561,"width":298,"height":8}},{"id":"2b7cfe2c-a428-4d1f-a55f-c344cb1f45cf","block_type":"box","text":"statestreet.com/im","page_number":1,"box":{"x":815,"y":561,"width":110,"height":7}},{"id":"dc164a6c-0ecb-4ae1-9c52-2b5323765176","block_type":"box","text":"for most recent month-end performance. Performance of an index is not","page_number":1,"box":{"x":514,"y":572,"width":406,"height":8}},{"id":"e6a4947b-14e4-4aa9-9793-328751df3b19","block_type":"box","text":"illustrative of any particular investment. It is not possible to invest directly","page_number":1,"box":{"x":515,"y":584,"width":416,"height":8}},{"id":"1faa96c2-0d3a-4b18-bfc2-1530f38d1f33","block_type":"box","text":"in an index. Index returns are unmanaged and do not reflect the deduction","page_number":1,"box":{"x":515,"y":595,"width":413,"height":8}},{"id":"12818ee0-b330-4b10-97d9-4814173297c0","block_type":"box","text":"of any fees or expenses. Index returns reflect all items of income, gain and","page_number":1,"box":{"x":514,"y":606,"width":412,"height":9}},{"id":"2d789a08-e884-4a27-ae1a-19b695616b8f","block_type":"box","text":"loss and the reinvestment of dividends and other income as applicable.","page_number":1,"box":{"x":515,"y":618,"width":398,"height":8}},{"id":"5f801d4e-6dce-4b08-8a8a-9021a304d501","block_type":"box","text":"Characteristics","page_number":1,"box":{"x":515,"y":654,"width":85,"height":7}},{"id":"843666b6-a6d6-4c39-9943-7ae3cee23fa6","block_type":"box","text":"Est. 3-5 Year EPS Growth","page_number":1,"box":{"x":515,"y":672,"width":132,"height":6}},{"id":"e2407b2c-acbe-46f4-a736-f3d2d4a73797","block_type":"box","text":"19.23%","page_number":1,"box":{"x":765,"y":672,"width":44,"height":6}},{"id":"45a95768-117a-429c-b99d-6ba93d5b005a","block_type":"box","text":"Index Dividend Yield","page_number":1,"box":{"x":515,"y":690,"width":104,"height":7}},{"id":"e019700e-358c-424c-8169-e182040d03a2","block_type":"box","text":"1.01%","page_number":1,"box":{"x":765,"y":690,"width":36,"height":7}},{"id":"b67f4304-38bb-40fe-9d5d-03873e6fb3d9","block_type":"box","text":"Price/Earnings Ratio FY1","page_number":1,"box":{"x":515,"y":708,"width":129,"height":9}},{"id":"316c72b0-5e63-4044-ac2e-d2efb22f9123","block_type":"box","text":"21.71","page_number":1,"box":{"x":765,"y":708,"width":33,"height":7}},{"id":"c804d0b1-0280-4ee3-b65b-519be65aea13","block_type":"box","text":"Number of Holdings","page_number":1,"box":{"x":515,"y":726,"width":102,"height":9}},{"id":"872a748d-b5e7-4690-890c-21f9fe72fb24","block_type":"box","text":"47","page_number":1,"box":{"x":764,"y":727,"width":14,"height":6}},{"id":"628e197a-ea5a-47ac-b7ed-606058d683d7","block_type":"box","text":"Price/Book","page_number":1,"box":{"x":515,"y":744,"width":58,"height":8}},{"id":"b776bfde-4e33-4cc4-acff-3ad2f9fa1015","block_type":"box","text":"5.75","page_number":1,"box":{"x":765,"y":745,"width":25,"height":6}},{"id":"d87cc979-2510-4e1b-872a-a2bdb539f475","block_type":"box","text":"Average Market Cap (M)","page_number":1,"box":{"x":514,"y":763,"width":126,"height":8}},{"id":"955ae2aa-a7ca-4d7b-801f-570cdeccb195","block_type":"box","text":"US$970,969.80","page_number":1,"box":{"x":764,"y":762,"width":93,"height":8}},{"id":"1f1a8151-2732-4ced-ac24-ba2d4c6b5def","block_type":"box","text":"2","page_number":2,"box":{"x":516,"y":961,"width":8,"height":8}},{"id":"eec6a5f6-ef99-4903-a975-e07709185f51","block_type":"box","text":"Top 10 Holdings‡","page_number":2,"box":{"x":59,"y":45,"width":91,"height":9}},{"id":"ee6022c9-5762-438d-b0b2-baac55fdd429","block_type":"box","text":"Weight (%)","page_number":2,"box":{"x":419,"y":45,"width":60,"height":9}},{"id":"6a67eaff-7ea5-4535-8670-18ed7ebeee23","block_type":"box","text":"AMAZON.COM INC","page_number":2,"box":{"x":58,"y":64,"width":102,"height":7}},{"id":"8ed3d0de-74d0-45c4-bdb3-1d499692f4dd","block_type":"box","text":"23.41","page_number":2,"box":{"x":445,"y":64,"width":33,"height":7}},{"id":"fa4f7a76-7e88-419c-be0d-f6a117597771","block_type":"box","text":"TESLA INC","page_number":2,"box":{"x":59,"y":82,"width":58,"height":7}},{"id":"70903e3f-627a-44b8-8563-9640d7234407","block_type":"box","text":"17.68","page_number":2,"box":{"x":445,"y":82,"width":33,"height":7}},{"id":"7491eb93-3a08-4f4f-9b6c-3f34de6acdd4","block_type":"box","text":"HOME DEPOT INC","page_number":2,"box":{"x":59,"y":100,"width":97,"height":7}},{"id":"58f5d6b5-ed21-4304-a8ab-b17b0c6632ad","block_type":"box","text":"5.02","page_number":2,"box":{"x":453,"y":100,"width":25,"height":7}},{"id":"371ea17e-63fc-4fb6-9e05-82c147a630f4","block_type":"box","text":"MCDONALD S CORP","page_number":2,"box":{"x":59,"y":119,"width":112,"height":6}},{"id":"6bb6e760-6bda-48af-a3fb-eafc624ce8ef","block_type":"box","text":"4.23","page_number":2,"box":{"x":452,"y":119,"width":26,"height":6}},{"id":"c151baf8-07b3-4b3c-916f-f3fa5575ec46","block_type":"box","text":"TJX COMPANIES INC","page_number":2,"box":{"x":59,"y":137,"width":112,"height":6}},{"id":"43fa5ba1-d2ea-47c7-a343-d3d2f799288f","block_type":"box","text":"4.07","page_number":2,"box":{"x":452,"y":137,"width":26,"height":6}},{"id":"85f9aa26-9847-451e-a1c5-6cb5c16292cf","block_type":"box","text":"BOOKING HOLDINGS INC","page_number":2,"box":{"x":59,"y":155,"width":137,"height":6}},{"id":"45a1fd7b-4b7c-4fc9-90a3-208002c13c2e","block_type":"box","text":"3.41","page_number":2,"box":{"x":453,"y":155,"width":25,"height":6}},{"id":"b8214cef-30d2-4042-93a3-57b693b145c4","block_type":"box","text":"STARBUCKS CORP","page_number":2,"box":{"x":59,"y":173,"width":103,"height":7}},{"id":"780952dd-000e-4c72-a0bd-942dd4a5c849","block_type":"box","text":"2.99","page_number":2,"box":{"x":453,"y":173,"width":25,"height":7}},{"id":"12b3f257-a87d-492c-8552-ff0de800b0ff","block_type":"box","text":"LOWE S COS INC","page_number":2,"box":{"x":59,"y":191,"width":91,"height":7}},{"id":"fc44db91-29cd-42aa-a8dc-9a267cb58b00","block_type":"box","text":"2.88","page_number":2,"box":{"x":453,"y":191,"width":25,"height":7}},{"id":"0d1f8099-d99c-4ff3-b891-a67414aa737a","block_type":"box","text":"MARRIOTT INTERNATIONAL CL A","page_number":2,"box":{"x":59,"y":209,"width":185,"height":7}},{"id":"fe319668-8087-42b9-8fbd-be9d6c8da42d","block_type":"box","text":"2.12","page_number":2,"box":{"x":453,"y":209,"width":25,"height":7}},{"id":"961fdc46-062f-4037-983e-e7624276bc92","block_type":"box","text":"ROSS STORES INC","page_number":2,"box":{"x":59,"y":228,"width":100,"height":6}},{"id":"93ed834a-c871-4e31-836a-e0c03bc12bb8","block_type":"box","text":"2.09","page_number":2,"box":{"x":453,"y":228,"width":25,"height":6}},{"id":"5b160fc0-2fff-4b18-9db8-8f8bfc18645c","block_type":"box","text":"‡Subject to Change.","page_number":2,"box":{"x":59,"y":248,"width":104,"height":8}},{"id":"8399bdd1-51e0-4fe2-8c9e-975d543cc9e8","block_type":"box","text":"Totals may not equal 100 due to rounding.","page_number":2,"box":{"x":59,"y":259,"width":217,"height":9}},{"id":"45019005-fb20-4d8e-abf0-3bdc30dd10f8","block_type":"box","text":"Top Industries","page_number":2,"box":{"x":515,"y":45,"width":78,"height":8}},{"id":"8d95773b-a788-4ebb-a281-9f06f0aad523","block_type":"box","text":"Weight (%)","page_number":2,"box":{"x":875,"y":45,"width":60,"height":9}},{"id":"7e90083d-4dfa-459a-8be7-a73bd5a2c9ff","block_type":"box","text":"Hotels, Restaurants & Leisure","page_number":2,"box":{"x":515,"y":64,"width":152,"height":8}},{"id":"69a81231-7028-4539-a48e-8633b0a4936d","block_type":"box","text":"25.95","page_number":2,"box":{"x":901,"y":64,"width":33,"height":7}},{"id":"b7892625-5a13-4acd-906c-540ae3a43ae6","block_type":"box","text":"Broadline Retail","page_number":2,"box":{"x":515,"y":82,"width":80,"height":7}},{"id":"1e728708-7b1d-4d34-a063-4c3ec840ce25","block_type":"box","text":"24.62","page_number":2,"box":{"x":901,"y":82,"width":33,"height":7}},{"id":"00fa73b4-f757-4019-8b1f-d5215e788902","block_type":"box","text":"Automobiles","page_number":2,"box":{"x":514,"y":100,"width":66,"height":7}},{"id":"3c79cf21-1913-45a5-b233-cb4f42853617","block_type":"box","text":"20.90","page_number":2,"box":{"x":901,"y":100,"width":34,"height":7}},{"id":"dc675d00-a62b-4789-9630-54a91e0238f1","block_type":"box","text":"Specialty Retail","page_number":2,"box":{"x":514,"y":119,"width":80,"height":8}},{"id":"b41383c4-ccfd-4603-b601-26ddd6da94b0","block_type":"box","text":"20.89","page_number":2,"box":{"x":901,"y":119,"width":33,"height":6}},{"id":"a9d219aa-8283-4611-bf7c-52f75f8ec853","block_type":"box","text":"Household Durables","page_number":2,"box":{"x":515,"y":137,"width":104,"height":6}},{"id":"0c3f03c1-584f-432b-8f8d-80005519d471","block_type":"box","text":"3.78","page_number":2,"box":{"x":908,"y":137,"width":26,"height":6}},{"id":"606d5d05-5847-48bc-bd86-a978f4f01918","block_type":"box","text":"Textiles Apparel & Luxury Goods","page_number":2,"box":{"x":514,"y":155,"width":170,"height":8}},{"id":"324c27a6-4ab3-413e-993d-0f447bebfeb9","block_type":"box","text":"2.78","page_number":2,"box":{"x":909,"y":155,"width":25,"height":6}},{"id":"cf28b950-c5f2-46cf-9026-c0f3efc06316","block_type":"box","text":"Distributors","page_number":2,"box":{"x":515,"y":173,"width":60,"height":7}},{"id":"ccaa4252-2232-4f1b-a4f4-aad8aa3ab3b6","block_type":"box","text":"0.48","page_number":2,"box":{"x":908,"y":173,"width":26,"height":7}},{"id":"ab179599-2ccc-461d-9052-a9de695181fa","block_type":"box","text":"Leisure Products","page_number":2,"box":{"x":515,"y":191,"width":87,"height":7}},{"id":"682ec4a0-0aa6-448b-bfa9-fe62b2908ae1","block_type":"box","text":"0.35","page_number":2,"box":{"x":908,"y":191,"width":26,"height":7}},{"id":"217687f1-d092-4efb-80da-7bcd5f42452e","block_type":"box","text":"Automobile Components","page_number":2,"box":{"x":514,"y":209,"width":130,"height":9}},{"id":"c0393a28-b80d-4347-8b07-47af96d4e19b","block_type":"box","text":"0.25","page_number":2,"box":{"x":908,"y":209,"width":26,"height":7}},{"id":"0889ce8a-7bb0-45c3-865d-492342c12b2f","block_type":"box","text":"Source: State Street Investment Management, 30th September 2026.","page_number":2,"box":{"x":514,"y":230,"width":368,"height":8}},{"id":"e3f8e0db-302f-4ab4-84dd-c9248b7a705e","block_type":"box","text":"Characteristics/ Holdings/ Weights are subject to change, and should not be","page_number":2,"box":{"x":515,"y":241,"width":398,"height":9}},{"id":"f4f20e58-bcc9-40fb-a958-cde171ea975c","block_type":"box","text":"relied upon as current thereafter.","page_number":2,"box":{"x":515,"y":253,"width":172,"height":8}},{"id":"e6430173-3b3f-460b-96dd-d1047e4575a2","block_type":"box","text":"statestreet.com/im","page_number":2,"box":{"x":59,"y":436,"width":166,"height":11}},{"id":"e025aab3-75a7-4e37-af0a-a9acdc0d148f","block_type":"box","text":"Information Classification: General","page_number":2,"box":{"x":59,"y":460,"width":164,"height":6}},{"id":"b316a305-6b2f-4e3f-ba71-9e1ab0d14004","block_type":"box","text":"State Street Global Advisors (SSGA)","page_number":2,"box":{"x":59,"y":480,"width":168,"height":7}},{"id":"0a324265-8e1e-4ad8-863a-d790df59bd1c","block_type":"box","text":"is now State Street Investment","page_number":2,"box":{"x":59,"y":490,"width":144,"height":7}},{"id":"b4db95c7-5fed-41d3-8181-04e3811e08bb","block_type":"box","text":"Management. Please go to statestreet.","page_number":2,"box":{"x":59,"y":500,"width":181,"height":9}},{"id":"0ed203a8-5236-492b-8e61-05dd2908d120","block_type":"box","text":"com/investment-management for more","page_number":2,"box":{"x":59,"y":510,"width":186,"height":9}},{"id":"f4893b26-0b08-45af-8102-148c0e757f72","block_type":"box","text":"information.","page_number":2,"box":{"x":59,"y":521,"width":58,"height":6}},{"id":"efaa1cef-da94-4048-b07f-c3b5b41d4c35","block_type":"box","text":"State Street Investment Management","page_number":2,"box":{"x":59,"y":554,"width":177,"height":8}},{"id":"b417881d-a316-469d-a8b0-79a575dc8738","block_type":"box","text":"One Congress Street, Boston MA 02114","page_number":2,"box":{"x":59,"y":564,"width":163,"height":8}},{"id":"cc252e1d-c875-4e34-b14c-41759612f91b","block_type":"box","text":"T: +1 866 787 2257","page_number":2,"box":{"x":59,"y":574,"width":78,"height":6}},{"id":"2c99c01c-b405-4977-8f13-df0815dff903","block_type":"box","text":"Glossary","page_number":2,"box":{"x":59,"y":607,"width":41,"height":8}},{"id":"38e72b6c-4799-4c3c-8511-41ef0ddee33e","block_type":"box","text":"NAV","page_number":2,"box":{"x":59,"y":617,"width":20,"height":6}},{"id":"b1833bcc-edc0-45ae-a254-aea21b0d2277","block_type":"box","text":"The market value of a mutual fund's or","page_number":2,"box":{"x":85,"y":617,"width":162,"height":7}},{"id":"a2ec02d3-2016-4afb-b7de-35d0b476043e","block_type":"box","text":"ETFs total assets, minus liabilities, divided by","page_number":2,"box":{"x":59,"y":627,"width":190,"height":8}},{"id":"517f0177-30b6-44c0-b997-0b87b9a7c7e7","block_type":"box","text":"the number of shares outstanding.","page_number":2,"box":{"x":58,"y":637,"width":146,"height":8}},{"id":"842c2817-6a4c-4448-8f01-ba62ae18e6dc","block_type":"box","text":"Market Value","page_number":2,"box":{"x":59,"y":647,"width":61,"height":7}},{"id":"e11a8ab4-b3ca-4d44-99ec-ad1315f028ab","block_type":"box","text":"Determined by the midpoint","page_number":2,"box":{"x":128,"y":647,"width":117,"height":8}},{"id":"e68eb7ce-70e2-4b2d-bb45-0d17846217ec","block_type":"box","text":"between the bid/offer prices as of the closing","page_number":2,"box":{"x":59,"y":657,"width":188,"height":9}},{"id":"92700c09-4128-4b52-882a-49d08d323a90","block_type":"box","text":"time of the New York Stock Exchange (typically","page_number":2,"box":{"x":58,"y":667,"width":198,"height":9}},{"id":"1d0b4d6e-8926-40d7-b569-3c6ab5e30486","block_type":"box","text":"4:00PM EST) on business days.","page_number":2,"box":{"x":58,"y":677,"width":133,"height":9}},{"id":"3f9cae4c-497d-4733-aae5-0e0872ecbcd4","block_type":"box","text":"Gross Expense Ratio","page_number":2,"box":{"x":59,"y":688,"width":96,"height":8}},{"id":"9dc7cfe6-2cf0-413d-82e1-b907d048e1bf","block_type":"box","text":"The fund's total","page_number":2,"box":{"x":162,"y":688,"width":65,"height":6}},{"id":"257b0d9c-e793-472f-95bb-023dbba5cdca","block_type":"box","text":"annual operating expense ratio. It is gross of","page_number":2,"box":{"x":59,"y":698,"width":185,"height":8}},{"id":"736bd53f-36d4-4a05-a1e0-ab6c9d88cf5d","block_type":"box","text":"any fee waivers or expense reimbursements.","page_number":2,"box":{"x":59,"y":708,"width":187,"height":8}},{"id":"bb2a490b-c858-4862-bbdf-4396b9ac00d1","block_type":"box","text":"It can be found in the fund's most recent","page_number":2,"box":{"x":59,"y":718,"width":169,"height":7}},{"id":"5072eb36-3fe0-432a-ad0e-0f2173fc4713","block_type":"box","text":"prospectus.","page_number":2,"box":{"x":59,"y":729,"width":50,"height":7}},{"id":"551e145a-46d5-4147-96df-e40bd9683c99","block_type":"box","text":"30 Day SEC Yield","page_number":2,"box":{"x":59,"y":738,"width":79,"height":8}},{"id":"9f845153-3ef3-440c-9934-407ad1b8c5ce","block_type":"box","text":"(Also known as","page_number":2,"box":{"x":146,"y":738,"width":63,"height":8}},{"id":"3f5d3932-f941-4f61-8236-4d36c1e588f3","block_type":"box","text":"Standardized Yield) An annualized yield that","page_number":2,"box":{"x":59,"y":748,"width":186,"height":8}},{"id":"1cc59bfe-e8c0-4c97-bd1d-16a331f4d4f2","block_type":"box","text":"is calculated by dividing the net investment","page_number":2,"box":{"x":59,"y":759,"width":182,"height":8}},{"id":"84861b29-a15a-4d34-9a2e-4a48af0e9212","block_type":"box","text":"income earned by the fund over the most","page_number":2,"box":{"x":59,"y":769,"width":172,"height":8}},{"id":"eeddf849-b73b-493b-97de-3947274b0d32","block_type":"box","text":"recent 30-day period by the current maximum","page_number":2,"box":{"x":59,"y":779,"width":195,"height":8}},{"id":"9d9a9d54-105e-4780-bc1a-a1adecaeea0f","block_type":"box","text":"offering price.","page_number":2,"box":{"x":59,"y":789,"width":57,"height":8}},{"id":"023aad9d-5f8f-4ed5-a3c5-054a7f5443ee","block_type":"box","text":"Est. 3-5 Year EPS Growth","page_number":2,"box":{"x":59,"y":799,"width":117,"height":6}},{"id":"833d15e1-d8f9-494c-8759-694fae0f9872","block_type":"box","text":"Based on","page_number":2,"box":{"x":183,"y":799,"width":38,"height":6}},{"id":"fa55006a-500a-41a2-81c6-a4754abda21d","block_type":"box","text":"the underlying holdings of the fund. The","page_number":2,"box":{"x":58,"y":809,"width":167,"height":8}},{"id":"a6bb2eb6-adfb-4d7d-bcf3-414e8d8f5864","block_type":"box","text":"actual earnings estimates for the underlying","page_number":2,"box":{"x":59,"y":819,"width":186,"height":8}},{"id":"74cdb6cc-bc1b-4a39-aabe-a9e426afdfd0","block_type":"box","text":"holdings are provided by FactSet, First Call,","page_number":2,"box":{"x":59,"y":829,"width":181,"height":8}},{"id":"3d18f04f-ef0a-4247-904f-42a53ee28743","block_type":"box","text":"I/B/E/S Consensus, and Reuters and are used","page_number":2,"box":{"x":59,"y":839,"width":190,"height":8}},{"id":"067a9ea7-0f67-4699-817b-343003c8674b","block_type":"box","text":"to calculate a mean 3-5 year EPS growth","page_number":2,"box":{"x":58,"y":849,"width":170,"height":9}},{"id":"048fe00d-6084-441b-8ee1-df08455aa0f4","block_type":"box","text":"rate estimate.","page_number":2,"box":{"x":59,"y":860,"width":58,"height":6}},{"id":"52446484-0f9a-44ce-830b-34ffa953a51b","block_type":"box","text":"Index Dividend Yield","page_number":2,"box":{"x":59,"y":870,"width":96,"height":6}},{"id":"fd9d551d-b136-466c-9e12-9de5d11946a5","block_type":"box","text":"The weighted average","page_number":2,"box":{"x":162,"y":870,"width":93,"height":8}},{"id":"fe35425b-390c-46ff-973c-df74951afcb7","block_type":"box","text":"of the underlyings' indicated annual dividend","page_number":2,"box":{"x":59,"y":880,"width":188,"height":8}},{"id":"c602be3c-b75a-4d03-b383-737e542ba410","block_type":"box","text":"divided by price, expressed as a percentage.","page_number":2,"box":{"x":59,"y":890,"width":186,"height":8}},{"id":"6dd48657-8167-458e-a736-99e8c633790c","block_type":"box","text":"Price/Earnings Ratio FY1","page_number":2,"box":{"x":59,"y":900,"width":114,"height":8}},{"id":"97fa52f7-a9cb-4fdf-a98f-22bc2f2d5ade","block_type":"box","text":"The weighted","page_number":2,"box":{"x":181,"y":900,"width":56,"height":8}},{"id":"f451b5c5-c22f-46d2-b293-ae6a9c902514","block_type":"box","text":"harmonic average of current share price","page_number":2,"box":{"x":59,"y":910,"width":168,"height":8}},{"id":"022497b1-be05-4979-8f81-8402b1e89046","block_type":"box","text":"divided by the forecasted one year earnings","page_number":2,"box":{"x":287,"y":438,"width":184,"height":9}},{"id":"1c90c649-139d-4c46-909d-4fffa19ad8cd","block_type":"box","text":"per share for each security in the fund.","page_number":2,"box":{"x":287,"y":449,"width":161,"height":8}},{"id":"17cf3f1c-d598-436c-b490-4ab2018d33a2","block_type":"box","text":"Negative and positive outliers are included in","page_number":2,"box":{"x":287,"y":459,"width":188,"height":8}},{"id":"ea6ff2a5-852f-4bda-ad07-2d3f479782e0","block_type":"box","text":"the calculation.","page_number":2,"box":{"x":286,"y":469,"width":65,"height":6}},{"id":"83d17a24-131a-4290-b6ac-56247e34f822","block_type":"box","text":"Price/Book Ratio","page_number":2,"box":{"x":287,"y":479,"width":78,"height":7}},{"id":"23af4455-c53a-4378-bddb-d4632b9b527d","block_type":"box","text":"The weighted harmonic","page_number":2,"box":{"x":372,"y":479,"width":99,"height":8}},{"id":"c52f77ed-f8c9-4b21-bab6-330af52c4ec1","block_type":"box","text":"average of closing market price divided by","page_number":2,"box":{"x":287,"y":489,"width":177,"height":8}},{"id":"8f986a8f-7e33-495d-b75e-1a98e34d2457","block_type":"box","text":"the most recent reported book value for each","page_number":2,"box":{"x":286,"y":499,"width":190,"height":8}},{"id":"9582859c-b518-416c-9bad-c4e3a6305ed0","block_type":"box","text":"security in the fund's portfolio as calculated for","page_number":2,"box":{"x":287,"y":509,"width":198,"height":8}},{"id":"c228cb5e-ba73-459c-8436-563877f8659d","block_type":"box","text":"the last twelve months.","page_number":2,"box":{"x":286,"y":519,"width":98,"height":7}},{"id":"b74d88eb-9621-4d5d-9986-f782983621cb","block_type":"box","text":"Important Risk Information","page_number":2,"box":{"x":287,"y":552,"width":128,"height":8}},{"id":"bcff2543-87f2-4f98-ac40-09c1886e942b","block_type":"box","text":"Weights are as of the date indicated, are","page_number":2,"box":{"x":286,"y":573,"width":168,"height":8}},{"id":"3c2bbf66-61e2-497f-88ab-7738e1a316e1","block_type":"box","text":"subject to change, and should not be relied","page_number":2,"box":{"x":287,"y":583,"width":179,"height":8}},{"id":"4cabcb1d-fa73-4223-82f3-7a9f9495b870","block_type":"box","text":"upon as current thereafter.","page_number":2,"box":{"x":287,"y":593,"width":113,"height":8}},{"id":"a8f21e6a-0bcf-4280-af88-5cb036ba8395","block_type":"box","text":"Investing involves risk including the risk of loss","page_number":2,"box":{"x":287,"y":603,"width":195,"height":8}},{"id":"6cba0a85-932e-45b5-8914-5ea535e1f33e","block_type":"box","text":"of principal.","page_number":2,"box":{"x":287,"y":613,"width":48,"height":8}},{"id":"092ce005-fee6-44d3-bb0d-7d12c7c23b36","block_type":"box","text":"The information provided does not constitute","page_number":2,"box":{"x":286,"y":623,"width":192,"height":8}},{"id":"e8a45712-90cd-4e63-867e-c70ad3ccebda","block_type":"box","text":"investment advice and it should not be relied","page_number":2,"box":{"x":287,"y":633,"width":188,"height":7}},{"id":"3706ee7a-8fd8-4e7e-8484-9510d4a30074","block_type":"box","text":"on as such. It should not be considered a","page_number":2,"box":{"x":287,"y":643,"width":170,"height":7}},{"id":"d9cb7db1-ecbd-4a1c-8111-3940b2046e6e","block_type":"box","text":"solicitation to buy or an offer to sell a security.","page_number":2,"box":{"x":287,"y":653,"width":191,"height":9}},{"id":"a03b52ca-2a57-4637-a5ac-0a1ef0afc1d0","block_type":"box","text":"It does not take into account any investor's","page_number":2,"box":{"x":287,"y":664,"width":180,"height":8}},{"id":"b0fe8295-40ad-415f-bf85-80f894ddadf5","block_type":"box","text":"particular investment objectives, strategies,","page_number":2,"box":{"x":287,"y":674,"width":186,"height":8}},{"id":"9c612316-ff3b-4287-a116-ee30c7c22960","block_type":"box","text":"tax status or investment horizon. You should","page_number":2,"box":{"x":286,"y":684,"width":188,"height":6}},{"id":"03f5e879-7986-4d26-b055-0b85988af57c","block_type":"box","text":"consult your tax and financial advisor.","page_number":2,"box":{"x":287,"y":694,"width":159,"height":8}},{"id":"61c1ce8f-97ab-4be3-b097-2b929533ce8e","block_type":"box","text":"The whole or any part of this work may not be","page_number":2,"box":{"x":286,"y":704,"width":191,"height":8}},{"id":"98f595d2-1e62-455c-9ac0-d1f9012e06dd","block_type":"box","text":"reproduced, copied or transmitted or any of","page_number":2,"box":{"x":287,"y":714,"width":184,"height":8}},{"id":"b8d17bea-8a2c-4032-95ad-36feb6352498","block_type":"box","text":"its contents disclosed to third parties without","page_number":2,"box":{"x":287,"y":724,"width":191,"height":8}},{"id":"85229eb6-11ca-4127-994d-bf6c370894a7","block_type":"box","text":"SSGA's express written consent.","page_number":2,"box":{"x":287,"y":734,"width":136,"height":8}},{"id":"ded3308b-9814-4240-8cec-732d152d4eaf","block_type":"box","text":"This communication is not intended to be an","page_number":2,"box":{"x":286,"y":744,"width":187,"height":7}},{"id":"06100884-069a-4015-bd3d-b16c0f24228f","block_type":"box","text":"investment recommendation or investment","page_number":2,"box":{"x":287,"y":754,"width":183,"height":7}},{"id":"6aa0bdba-9f03-4e0b-9655-683db9bbad01","block_type":"box","text":"advice and should not be relied upon as such.","page_number":2,"box":{"x":287,"y":765,"width":190,"height":8}},{"id":"5441fe1d-d435-4c09-9083-5b3f004af164","block_type":"box","text":"Market Risk:","page_number":2,"box":{"x":287,"y":775,"width":58,"height":6}},{"id":"b7028892-7f3b-4e05-9db6-c126763490c9","block_type":"box","text":"The Fund's investments are","page_number":2,"box":{"x":348,"y":775,"width":116,"height":6}},{"id":"a1c3329b-5c8c-462f-8ff5-d37fa9f4a808","block_type":"box","text":"subject to changes in general economic","page_number":2,"box":{"x":287,"y":785,"width":166,"height":8}},{"id":"98abc3fd-f2b6-473b-8a59-55a8faa1668d","block_type":"box","text":"conditions, general market fluctuations,","page_number":2,"box":{"x":287,"y":795,"width":167,"height":8}},{"id":"2bead992-307b-4b49-ac91-dac245babf0a","block_type":"box","text":"and the risks inherent in investment in","page_number":2,"box":{"x":287,"y":805,"width":160,"height":6}},{"id":"0eb36e32-59d9-41a5-9a28-3295cd373870","block_type":"box","text":"securities markets. Investment markets can","page_number":2,"box":{"x":287,"y":815,"width":185,"height":7}},{"id":"64143630-0469-4186-affe-a36164d4476d","block_type":"box","text":"be volatile, and prices of investments can","page_number":2,"box":{"x":287,"y":825,"width":173,"height":8}},{"id":"66c9c5ef-3154-4ac5-9f93-d6c1ab836001","block_type":"box","text":"change substantially due to various factors,","page_number":2,"box":{"x":287,"y":835,"width":183,"height":8}},{"id":"e34f6b29-93b1-4293-bf07-abe0acd5289b","block_type":"box","text":"including, but not limited to, economic growth","page_number":2,"box":{"x":287,"y":845,"width":192,"height":9}},{"id":"41e08458-51f6-4318-99f0-6120a5bf8ddd","block_type":"box","text":"or recession, changes in interest rates,","page_number":2,"box":{"x":287,"y":855,"width":162,"height":9}},{"id":"293c3fc9-81bf-4b3f-84ba-9afee11b341d","block_type":"box","text":"inflation, changes in the actual or perceived","page_number":2,"box":{"x":287,"y":865,"width":182,"height":9}},{"id":"6851c95a-89c5-490a-ab50-469258d9b007","block_type":"box","text":"creditworthiness of issuers, and general","page_number":2,"box":{"x":287,"y":876,"width":168,"height":8}},{"id":"3fd8b324-153b-45d6-96ae-345e1ac3cc66","block_type":"box","text":"market liquidity. The Fund is subject to the","page_number":2,"box":{"x":287,"y":886,"width":178,"height":8}},{"id":"8f2bbea0-c310-4667-b580-5f459dc4536b","block_type":"box","text":"risk that geopolitical events will disrupt","page_number":2,"box":{"x":287,"y":896,"width":164,"height":8}},{"id":"09a2e3d1-9635-4807-a596-b25f88f67de7","block_type":"box","text":"securities markets and adversely affect global","page_number":2,"box":{"x":287,"y":906,"width":193,"height":8}},{"id":"c5e69fc8-f3df-49a1-b292-569371c6d5af","block_type":"box","text":"economies and markets. Local, regional, or","page_number":2,"box":{"x":515,"y":439,"width":179,"height":8}},{"id":"aa0a6f6c-95ea-47a4-8a0c-7eaca7e0d6f2","block_type":"box","text":"global events such as war, military conflicts,","page_number":2,"box":{"x":514,"y":449,"width":185,"height":8}},{"id":"5d3e36c7-a22d-4038-aaaf-3af05a3b2089","block_type":"box","text":"acts of terrorism, trade policy changes or","page_number":2,"box":{"x":514,"y":459,"width":173,"height":8}},{"id":"09fd34a3-5775-422f-8c0a-434bb16332af","block_type":"box","text":"disputes, the threat or actual imposition","page_number":2,"box":{"x":515,"y":469,"width":167,"height":8}},{"id":"36051c90-5392-4dfd-a7c7-37c41d23996a","block_type":"box","text":"of tariffs, natural disasters, the spread of","page_number":2,"box":{"x":515,"y":479,"width":171,"height":8}},{"id":"37214098-85d7-4e93-b288-0413d73552af","block_type":"box","text":"infectious illness or other public health issues,","page_number":2,"box":{"x":515,"y":489,"width":193,"height":8}},{"id":"e8cdd93a-daa4-4a71-a7c6-76a30671f455","block_type":"box","text":"or other events could have a significant impact","page_number":2,"box":{"x":515,"y":499,"width":196,"height":8}},{"id":"03faa22f-13ad-49f6-9774-721f605639ce","block_type":"box","text":"on the Fund and its investments.","page_number":2,"box":{"x":515,"y":509,"width":136,"height":7}},{"id":"130b929f-4c2d-4e2f-8a68-338a63463acf","block_type":"box","text":"All ETFs are subject to risk, including","page_number":2,"box":{"x":514,"y":519,"width":154,"height":9}},{"id":"e1f3d9e4-5d9d-47db-a140-3dfb2eccb433","block_type":"box","text":"possible loss of principal.","page_number":2,"box":{"x":515,"y":529,"width":104,"height":9}},{"id":"e821e7d5-7548-46bc-8fca-a0366b9807f4","block_type":"box","text":"Sector ETF","page_number":2,"box":{"x":622,"y":529,"width":51,"height":7}},{"id":"94ddd618-3268-4450-923e-5550dc567e93","block_type":"box","text":"products","page_number":2,"box":{"x":515,"y":540,"width":42,"height":8}},{"id":"b1fc117e-e52f-4f8f-b749-74141aba7e42","block_type":"box","text":"are also subject to sector risk","page_number":2,"box":{"x":560,"y":540,"width":123,"height":8}},{"id":"9503ecf1-4a8e-433e-aabe-60e0131343ca","block_type":"box","text":"and non-diversification risk, which generally","page_number":2,"box":{"x":514,"y":550,"width":186,"height":8}},{"id":"85d7afb6-6233-4aae-85fe-699c32917382","block_type":"box","text":"result in greater price fluctuations than the","page_number":2,"box":{"x":515,"y":560,"width":180,"height":8}},{"id":"f11c18d5-fd1b-495e-b312-f774bc293638","block_type":"box","text":"overall market.","page_number":2,"box":{"x":515,"y":570,"width":62,"height":6}},{"id":"3906fb0b-359e-47b8-9cfc-3c3f8d1ea38f","block_type":"box","text":"Select Sector SPDR Funds","page_number":2,"box":{"x":514,"y":580,"width":123,"height":6}},{"id":"90610d99-4218-49ac-ab59-4754ea2e97f6","block_type":"box","text":"bear a","page_number":2,"box":{"x":640,"y":580,"width":25,"height":6}},{"id":"d2fad0ac-b4fe-4c02-9d2f-76108e0f8b66","block_type":"box","text":"higher level of risk than more broadly","page_number":2,"box":{"x":515,"y":590,"width":155,"height":8}},{"id":"74c97c73-b0a7-42d0-8a0e-6484c11b2672","block_type":"box","text":"diversified funds.","page_number":2,"box":{"x":515,"y":600,"width":72,"height":7}},{"id":"32bdf586-9df7-44dc-b542-114695580a83","block_type":"box","text":"Equity securities","page_number":2,"box":{"x":515,"y":610,"width":79,"height":8}},{"id":"a2626776-e055-45f8-a42d-327f0c2bc339","block_type":"box","text":"may fluctuate in value and","page_number":2,"box":{"x":596,"y":610,"width":110,"height":8}},{"id":"0c868cc9-eb9e-4c9e-b72d-96b6f9dec517","block_type":"box","text":"can decline significantly in response to the","page_number":2,"box":{"x":515,"y":620,"width":178,"height":9}},{"id":"26e84e56-e684-4d81-976f-3c6d6c22141e","block_type":"box","text":"activities of individual companies and general","page_number":2,"box":{"x":514,"y":630,"width":192,"height":9}},{"id":"15a4251a-8f18-46bd-9d56-80dd64af82a4","block_type":"box","text":"market and economic conditions.","page_number":2,"box":{"x":515,"y":641,"width":140,"height":6}},{"id":"aa927436-614c-406c-b29c-9d2f1f5a102d","block_type":"box","text":"Non-diversified funds","page_number":2,"box":{"x":515,"y":651,"width":101,"height":6}},{"id":"20620896-0665-4c97-b334-1200212e251b","block_type":"box","text":"that focus on a","page_number":2,"box":{"x":619,"y":651,"width":62,"height":6}},{"id":"48cbb409-90e3-4a94-a7dd-1ae8f761ad65","block_type":"box","text":"relatively small number of securities tend to","page_number":2,"box":{"x":515,"y":661,"width":184,"height":8}},{"id":"110e4a87-1374-4534-b7ec-a8df81e6c92b","block_type":"box","text":"be more volatile than diversified funds and the","page_number":2,"box":{"x":515,"y":671,"width":194,"height":6}},{"id":"a67224c1-6a27-46f3-abcb-befa3d931675","block_type":"box","text":"market as a whole.","page_number":2,"box":{"x":515,"y":681,"width":77,"height":6}},{"id":"85510ec0-8dcd-4853-a34b-4c0102121033","block_type":"box","text":"Passively managed funds","page_number":2,"box":{"x":515,"y":691,"width":119,"height":8}},{"id":"8abb849f-6c6d-4599-bb66-fd7efde850df","block_type":"box","text":"invest by","page_number":2,"box":{"x":637,"y":691,"width":38,"height":8}},{"id":"04cbab17-a329-4cad-8899-21d85626d889","block_type":"box","text":"sampling the index, holding a range of","page_number":2,"box":{"x":514,"y":701,"width":159,"height":8}},{"id":"f44e79c6-355a-4730-b833-0d2dae0094b9","block_type":"box","text":"securities that, in the aggregate, approximates","page_number":2,"box":{"x":514,"y":711,"width":197,"height":8}},{"id":"efa26aeb-568b-4599-ad98-bc32b2a624d1","block_type":"box","text":"the full Index in terms of key risk factors and","page_number":2,"box":{"x":514,"y":721,"width":185,"height":8}},{"id":"0fd5ddc2-b5f6-4afd-9581-f447f5f3ce7d","block_type":"box","text":"other characteristics. This may cause the","page_number":2,"box":{"x":515,"y":731,"width":173,"height":9}},{"id":"87b9090e-e656-405a-9b3c-0ec7f059f607","block_type":"box","text":"fund to experience tracking errors relative to","page_number":2,"box":{"x":514,"y":741,"width":188,"height":9}},{"id":"f531d4ba-7814-4d41-beb6-8b3ba0531b5d","block_type":"box","text":"performance of the index.","page_number":2,"box":{"x":515,"y":752,"width":108,"height":8}},{"id":"98c529b8-4a49-4b98-a973-231a1382fd80","block_type":"box","text":"While the shares of ETFs are tradable on","page_number":2,"box":{"x":514,"y":762,"width":168,"height":6}},{"id":"cbbf1587-69de-42df-b8e4-48d488ca2640","block_type":"box","text":"secondary markets, they may not readily","page_number":2,"box":{"x":514,"y":772,"width":173,"height":8}},{"id":"2f35bf8c-cea2-45f6-b132-f01b267ed79e","block_type":"box","text":"trade in all market conditions and may","page_number":2,"box":{"x":514,"y":782,"width":161,"height":8}},{"id":"f05dc97a-d404-44b0-bd04-b915214b7391","block_type":"box","text":"trade at significant discounts in periods of","page_number":2,"box":{"x":514,"y":792,"width":177,"height":8}},{"id":"25594427-4468-4c23-b02e-9a5f50f74b04","block_type":"box","text":"market stress","page_number":2,"box":{"x":515,"y":802,"width":65,"height":7}},{"id":"75613a52-b8ef-4b64-9a06-eeffcfb69215","block_type":"box","text":".","page_number":2,"box":{"x":580,"y":808,"width":2,"height":1}},{"id":"9787251d-0142-407a-b487-57ebc3074eee","block_type":"box","text":"ETFs","page_number":2,"box":{"x":515,"y":812,"width":22,"height":7}},{"id":"1986842c-ac46-4579-994f-a76ad2a1be6d","block_type":"box","text":"trade like stocks, are subject to","page_number":2,"box":{"x":539,"y":812,"width":131,"height":8}},{"id":"7bd5f665-4d90-4742-9cc2-35edb1321b73","block_type":"box","text":"investment risk, fluctuate in market value and","page_number":2,"box":{"x":515,"y":822,"width":192,"height":8}},{"id":"192b085d-a258-4f3f-a947-f9b75ca1c6b8","block_type":"box","text":"may trade at prices above or below the ETFs","page_number":2,"box":{"x":515,"y":832,"width":185,"height":9}},{"id":"49758399-f674-4779-9381-ea97ed60d427","block_type":"box","text":"net asset value. Brokerage commissions and","page_number":2,"box":{"x":515,"y":843,"width":186,"height":8}},{"id":"b561fb1b-92ab-4e6f-85da-48b2f0fdd6f3","block_type":"box","text":"ETF expenses will reduce returns.","page_number":2,"box":{"x":515,"y":853,"width":141,"height":8}},{"id":"6334fe12-48c5-4490-b877-ecc484d7b925","block_type":"box","text":"Intellectual Property Information:","page_number":2,"box":{"x":515,"y":863,"width":158,"height":8}},{"id":"840ad74d-702c-4279-8aeb-a1900966b6ad","block_type":"box","text":"The","page_number":2,"box":{"x":676,"y":863,"width":16,"height":6}},{"id":"1660ca27-29d1-4551-b19b-2147935a5877","block_type":"box","text":"S&P 500","page_number":2,"box":{"x":514,"y":873,"width":39,"height":6}},{"id":"a9366a74-8977-4e18-ad55-0e12442a79ea","block_type":"box","text":"®","page_number":2,"box":{"x":553,"y":872,"width":3,"height":2}},{"id":"c107a30d-cb7a-44df-8c81-cd8534e1b427","block_type":"box","text":"Index is a product of S&P Dow Jones","page_number":2,"box":{"x":559,"y":873,"width":152,"height":8}},{"id":"4a6450b4-712a-4341-8db2-97208a761259","block_type":"box","text":"Indices LLC or its affiliates (\"S&P DJI\") and","page_number":2,"box":{"x":515,"y":883,"width":177,"height":7}},{"id":"89cfdc8b-1601-4ddc-ab84-c571dd9b7b76","block_type":"box","text":"have been licensed for use by State Street","page_number":2,"box":{"x":515,"y":893,"width":176,"height":8}},{"id":"4e001eff-d07d-4ab2-9a73-1fc86bbae2d5","block_type":"box","text":"Global Advisors. S&P","page_number":2,"box":{"x":515,"y":903,"width":90,"height":7}},{"id":"ecac9015-733c-43b3-8cec-71cd85360bbf","block_type":"box","text":"®","page_number":2,"box":{"x":606,"y":902,"width":2,"height":2}},{"id":"00de2135-0eb7-43fd-917d-025a70a0a3fe","block_type":"box","text":", SPDR","page_number":2,"box":{"x":609,"y":903,"width":26,"height":8}},{"id":"0a03f352-f424-4088-8aff-f6c0e464e62e","block_type":"box","text":"®","page_number":2,"box":{"x":636,"y":902,"width":2,"height":2}},{"id":"3fcba343-31fe-4521-b32c-716f6922e9af","block_type":"box","text":", S&P 500","page_number":2,"box":{"x":639,"y":903,"width":42,"height":8}},{"id":"3f07a838-dcf6-4a43-a8ad-aae8774b2487","block_type":"box","text":"®","page_number":2,"box":{"x":682,"y":902,"width":2,"height":2}},{"id":"5e60b089-8bc2-43ce-8531-6403e0e544c0","block_type":"box","text":",US","page_number":2,"box":{"x":684,"y":903,"width":14,"height":8}},{"id":"d76e6724-62cf-4baa-9a09-55bf3cc5dd5b","block_type":"box","text":"500 and the 500 are trademarks of Standard","page_number":2,"box":{"x":742,"y":438,"width":191,"height":7}},{"id":"eb338ea8-3cc2-46df-998a-3b6b28a9e541","block_type":"box","text":"& Poor's Financial Services LLC (\"S&P\"); Dow","page_number":2,"box":{"x":742,"y":448,"width":189,"height":8}},{"id":"7d92450f-523b-46b7-809b-c149883e2257","block_type":"box","text":"Jones","page_number":2,"box":{"x":742,"y":459,"width":26,"height":6}},{"id":"08092cf3-ac8d-4e77-a422-3b6fb3db691a","block_type":"box","text":"®","page_number":2,"box":{"x":768,"y":458,"width":2,"height":2}},{"id":"77d74ac6-fed2-404d-bd1d-10f29954941e","block_type":"box","text":"is a registered trademark of Dow Jones","page_number":2,"box":{"x":773,"y":459,"width":164,"height":8}},{"id":"133cec19-180e-4752-808e-c6cec8b90619","block_type":"box","text":"Trademark Holdings LLC (\"Dow Jones\") and","page_number":2,"box":{"x":742,"y":469,"width":183,"height":8}},{"id":"3443d8c0-ef3d-4da7-abb7-f8f92b8f8813","block_type":"box","text":"has been licensed for use by S&P Dow Jones","page_number":2,"box":{"x":743,"y":479,"width":186,"height":8}},{"id":"2b1f8bfe-d6ea-4ea3-b4d7-2d80d23903dd","block_type":"box","text":"Indices; and these trademarks have been","page_number":2,"box":{"x":743,"y":489,"width":172,"height":7}},{"id":"d4a63a14-b93c-40d6-b43b-17395811e0a0","block_type":"box","text":"licensed for use by S&P DJI and sublicensed","page_number":2,"box":{"x":743,"y":499,"width":185,"height":8}},{"id":"97ed4dde-392f-4c76-8df3-2e3b068f4aa2","block_type":"box","text":"for certain purposes by State Street Global","page_number":2,"box":{"x":742,"y":509,"width":180,"height":8}},{"id":"3cfd48b3-e6f2-4f56-9c9e-e4b80bd42470","block_type":"box","text":"Advisors. The fund is not sponsored, endorsed,","page_number":2,"box":{"x":742,"y":519,"width":198,"height":8}},{"id":"c130ec5d-c086-4a30-b668-44a061cd8976","block_type":"box","text":"sold or promoted by S&P DJI, Dow Jones, S&P,","page_number":2,"box":{"x":742,"y":529,"width":195,"height":9}},{"id":"8a4eb0e8-5e43-43a3-8864-9506e5faef18","block_type":"box","text":"their respective affiliates, and none of such","page_number":2,"box":{"x":742,"y":539,"width":180,"height":9}},{"id":"9d993138-49de-46a0-8f44-8a940ab8c313","block_type":"box","text":"parties make any representation regarding","page_number":2,"box":{"x":743,"y":550,"width":180,"height":8}},{"id":"c2ba91ed-176e-4b53-a084-b6e0c4da1dcf","block_type":"box","text":"the advisability of investing in such product(s)","page_number":2,"box":{"x":742,"y":559,"width":193,"height":9}},{"id":"c102d9b9-ac44-4fcf-b61b-5bc55641009f","block_type":"box","text":"nor do they have any liability for any errors,","page_number":2,"box":{"x":743,"y":570,"width":180,"height":8}},{"id":"f08ad0ba-ca2c-44a0-8054-5d463e74dc4a","block_type":"box","text":"omissions, or interruptions of these indices.","page_number":2,"box":{"x":742,"y":580,"width":184,"height":8}},{"id":"a0bdee42-c12b-48eb-a080-493a1a290e00","block_type":"box","text":"The S&P 500 Index is an unmanaged index","page_number":2,"box":{"x":742,"y":590,"width":182,"height":8}},{"id":"c4787c70-5bfb-4d86-9bb1-4b46914e040a","block_type":"box","text":"of 500 common stocks that is generally","page_number":2,"box":{"x":742,"y":600,"width":167,"height":8}},{"id":"a45e54a4-d22a-4741-9f92-a6f37b895b5f","block_type":"box","text":"considered representative of the U.S. stock","page_number":2,"box":{"x":742,"y":610,"width":182,"height":8}},{"id":"08377d3d-1866-44dd-afa6-343c00a2522b","block_type":"box","text":"market. The index is heavily weighted towards","page_number":2,"box":{"x":743,"y":620,"width":193,"height":9}},{"id":"097c52b7-2d92-4b3d-abc8-da1efbb1c1c0","block_type":"box","text":"stocks with large market capitalizations and","page_number":2,"box":{"x":742,"y":630,"width":185,"height":9}},{"id":"5986b7c9-071e-4833-96f3-f6dae6668660","block_type":"box","text":"represents approximately two-thirds of the","page_number":2,"box":{"x":743,"y":640,"width":180,"height":9}},{"id":"47602ffa-e0ab-42de-8e7e-08569f87edab","block_type":"box","text":"total market value of all domestic common","page_number":2,"box":{"x":742,"y":651,"width":179,"height":6}},{"id":"84d2a36b-e05c-417e-adba-8dee5ae16869","block_type":"box","text":"stocks. The S&P 500 Index figures do not","page_number":2,"box":{"x":742,"y":661,"width":175,"height":8}},{"id":"fc5a0d9b-95f4-47ec-8568-839a0440980c","block_type":"box","text":"reflect any fees, expenses or taxes.","page_number":2,"box":{"x":743,"y":671,"width":147,"height":8}},{"id":"50123079-5c6f-491c-b769-a88afe8bdbeb","block_type":"box","text":"Distributor","page_number":2,"box":{"x":743,"y":681,"width":51,"height":6}},{"id":"0f3b0f80-f560-4924-a266-f554bb992058","block_type":"box","text":"State Street Global Advisors","page_number":2,"box":{"x":801,"y":681,"width":119,"height":6}},{"id":"7d5e29ef-9b52-4bba-abf1-608ac5ecb09c","block_type":"box","text":"Funds Distributors, LLC, member","page_number":2,"box":{"x":743,"y":691,"width":139,"height":7}},{"id":"43c2ba84-75dc-4866-bf83-5e2343b72093","block_type":"box","text":"FINRA","page_number":2,"box":{"x":884,"y":691,"width":26,"height":6}},{"id":"194d547b-0530-428c-8e2a-d39d02e3095e","block_type":"box","text":",","page_number":2,"box":{"x":911,"y":697,"width":1,"height":1}},{"id":"47fd97b1-51ec-4b96-a7c8-21df45a9ffff","block_type":"box","text":"SIPC","page_number":2,"box":{"x":915,"y":691,"width":19,"height":7}},{"id":"2f007a80-da46-4b15-81b8-2e456c32e97d","block_type":"box","text":",","page_number":2,"box":{"x":935,"y":697,"width":1,"height":1}},{"id":"3d82863c-20c2-414c-858e-8dacacb28fda","block_type":"box","text":"an indirect wholly owned subsidiary of State","page_number":2,"box":{"x":742,"y":701,"width":186,"height":8}},{"id":"03d11d67-1e9c-4b92-b1e7-1035648c0141","block_type":"box","text":"Street Corporation. References to State Street","page_number":2,"box":{"x":742,"y":711,"width":195,"height":8}},{"id":"f7688166-72de-4326-8b0c-7ba644e88760","block_type":"box","text":"may include State Street Corporation and its","page_number":2,"box":{"x":743,"y":721,"width":187,"height":8}},{"id":"29c3c824-d72c-4e8d-8537-d03ea1f91cf2","block_type":"box","text":"affiliates. Certain State Street affiliates provide","page_number":2,"box":{"x":742,"y":731,"width":197,"height":9}},{"id":"20429314-90b1-454e-891b-ded1e336e311","block_type":"box","text":"services and receive fees from the SPDR ETFs.","page_number":2,"box":{"x":742,"y":741,"width":195,"height":7}},{"id":"1b4ec371-2eff-4b46-b4a9-3e20e5b84474","block_type":"box","text":"Before investing in a fund,","page_number":2,"box":{"x":743,"y":753,"width":140,"height":10}},{"id":"c81ee1b2-8d0e-4cd9-893b-1ea86729cc14","block_type":"box","text":"consider its investment objectives,","page_number":2,"box":{"x":742,"y":766,"width":190,"height":9}},{"id":"a4354b1c-e263-428d-bbbd-5e86572bb257","block_type":"box","text":"risks, charges, and expenses. A","page_number":2,"box":{"x":743,"y":778,"width":169,"height":10}},{"id":"0c537c3b-713c-4426-91c5-a63a55274871","block_type":"box","text":"prospectus (and/or summary","page_number":2,"box":{"x":743,"y":791,"width":159,"height":9}},{"id":"b95091b9-845f-4c2d-98b5-9b9e6e5fdbd8","block_type":"box","text":"prospectus) containing this and","page_number":2,"box":{"x":743,"y":803,"width":172,"height":10}},{"id":"803a71b6-b50d-40e9-abf5-ccee7c1bd647","block_type":"box","text":"other information is available at","page_number":2,"box":{"x":742,"y":816,"width":173,"height":8}},{"id":"6f21ba07-aab7-45d4-8639-1759e7a089ba","block_type":"box","text":"statestreet.com/im","page_number":2,"box":{"x":742,"y":828,"width":105,"height":9}},{"id":"ca1c0a34-59ab-4b30-a094-5dd64892fa23","block_type":"box","text":"or by calling","page_number":2,"box":{"x":851,"y":829,"width":66,"height":9}},{"id":"5ce29ad2-77ad-4b94-a823-2695fc1f3ca6","block_type":"box","text":"1-866-787-2257. Read it carefully.","page_number":2,"box":{"x":742,"y":841,"width":181,"height":10}},{"id":"03a99d0b-6b9e-4653-8e48-4effecd80469","block_type":"box","text":"3","page_number":3,"box":{"x":516,"y":961,"width":8,"height":8}},{"id":"a8dca8c1-e3eb-4175-a49b-209782f2af75","block_type":"box","text":"For More Information","page_number":3,"box":{"x":59,"y":441,"width":99,"height":7}},{"id":"6133a7ca-be4a-4a4f-9018-3fbbcccb2158","block_type":"box","text":"Visit our website at www.statestreet.com/im.","page_number":3,"box":{"x":58,"y":451,"width":190,"height":8}},{"id":"e6968a38-689e-44ef-8cc4-d6eb2e946a4e","block_type":"box","text":"Contact our SPDR ETF Sales and Support team","page_number":3,"box":{"x":59,"y":461,"width":196,"height":9}},{"id":"63d64dc7-d6b5-442c-b026-ba7ba25291ae","block_type":"box","text":"at spdrseurope@ssga.com or call your local","page_number":3,"box":{"x":59,"y":472,"width":183,"height":8}},{"id":"62eac751-ee23-4364-a654-8ef1c7caab00","block_type":"box","text":"SPDR ETF representative.","page_number":3,"box":{"x":59,"y":482,"width":108,"height":8}},{"id":"6b667c3a-1f86-4ae9-a833-c6a727683367","block_type":"box","text":"United Kingdom: +44 (0)20 3395 6888 |","page_number":3,"box":{"x":59,"y":491,"width":170,"height":9}},{"id":"95b3946e-f435-4c3e-8490-3b759e977370","block_type":"box","text":"Netherlands: +31 (0)20 718 1016 | Sweden:","page_number":3,"box":{"x":59,"y":502,"width":174,"height":7}},{"id":"1a81decb-61d9-4d39-895e-30079817b426","block_type":"box","text":"+32 (0) 2 793 46 31 | Switzerland: +41 (0)","page_number":3,"box":{"x":59,"y":512,"width":169,"height":7}},{"id":"327cf3ab-ce00-4ce7-b689-252a77f8696e","block_type":"box","text":"44 245 7000","page_number":3,"box":{"x":58,"y":522,"width":57,"height":7}},{"id":"c24ac242-8493-44c9-93b1-6a6c22239cd0","block_type":"box","text":"Marketing Communication:","page_number":3,"box":{"x":59,"y":544,"width":128,"height":8}},{"id":"e2cf62ba-de97-4909-8554-ebd257b3c279","block_type":"box","text":"For Professional Client/Qualified Investor","page_number":3,"box":{"x":59,"y":554,"width":194,"height":8}},{"id":"465bf9aa-aa0d-4f9e-849b-4351a5fc9f26","block_type":"box","text":"Use Only in the Switzerland, Netherlands,","page_number":3,"box":{"x":59,"y":564,"width":194,"height":9}},{"id":"4ef4006e-7360-4dc6-8182-0ebc144c2892","block_type":"box","text":"Sweden and United Kingdom. Not for","page_number":3,"box":{"x":59,"y":575,"width":173,"height":8}},{"id":"45b424b9-9e75-46e1-96c7-f3bd7a71a9eb","block_type":"box","text":"public distribution.","page_number":3,"box":{"x":59,"y":585,"width":89,"height":8}},{"id":"f77fcedf-2da5-4ef0-81af-b9a9d8d9185e","block_type":"box","text":"This document has been issued by State","page_number":3,"box":{"x":59,"y":595,"width":170,"height":8}},{"id":"03a8d0c0-c5f3-472a-b180-04566a6948b6","block_type":"box","text":"Street Global Advisors Limited (\"SSGA\").","page_number":3,"box":{"x":59,"y":605,"width":169,"height":7}},{"id":"2edf9c4d-5be7-44ba-b9d5-3ad8109c3d7b","block_type":"box","text":"Authorised and regulated by the Financial","page_number":3,"box":{"x":58,"y":615,"width":176,"height":8}},{"id":"921ad674-4cd9-4096-9775-09e5c8f76ce0","block_type":"box","text":"Conduct Authority. Registered No. 2509928.","page_number":3,"box":{"x":59,"y":625,"width":189,"height":8}},{"id":"2dc7bdae-0aa0-43a6-ae83-4ada216ff9b8","block_type":"box","text":"VAT No. 5776591 81. Registered office: 20","page_number":3,"box":{"x":58,"y":635,"width":175,"height":8}},{"id":"4e5a0da8-6bef-42ac-8cff-20c798c900c3","block_type":"box","text":"Churchill Place, Canary Wharf, London,","page_number":3,"box":{"x":59,"y":645,"width":163,"height":8}},{"id":"f1810c5e-89cb-4411-8cdf-bf0ecae903b9","block_type":"box","text":"E14 5HJ. Telephone: 020 3395 6000.","page_number":3,"box":{"x":59,"y":655,"width":158,"height":8}},{"id":"f5cbdd57-89c7-4578-965c-9b0c5e6c556f","block_type":"box","text":"Facsimile: 020 3395 6350 Web: www.","page_number":3,"box":{"x":59,"y":665,"width":160,"height":7}},{"id":"6508b677-2af6-433f-b805-3a8e2f6afd4c","block_type":"box","text":"statestreet.com/im.","page_number":3,"box":{"x":59,"y":675,"width":83,"height":8}},{"id":"0f4bedf8-7747-49ca-bd16-0b1ffcca3222","block_type":"box","text":"Netherlands:","page_number":3,"box":{"x":59,"y":696,"width":60,"height":6}},{"id":"8bb1f75f-efaf-49bd-bd9c-e39fded95b27","block_type":"box","text":"State Street Global Advisors","page_number":3,"box":{"x":122,"y":696,"width":119,"height":6}},{"id":"4b43c59b-2b0d-4b78-8573-ee94200d7294","block_type":"box","text":"Netherlands, Apollo Building 7th floor,","page_number":3,"box":{"x":59,"y":706,"width":157,"height":8}},{"id":"1a9c88de-0b82-43a5-9074-4b34ec3af3ed","block_type":"box","text":"Herikerbergweg 29, 1101 CN Amsterdam,","page_number":3,"box":{"x":59,"y":716,"width":170,"height":8}},{"id":"45516eed-c880-4683-98a1-0356cbbcc5e8","block_type":"box","text":"Netherlands. T: +31 20 7181 000. State Street","page_number":3,"box":{"x":59,"y":726,"width":191,"height":7}},{"id":"c16f9a7e-e84a-4eb7-8feb-5c0db73538e5","block_type":"box","text":"Global Advisors Netherlands is a branch","page_number":3,"box":{"x":59,"y":736,"width":168,"height":7}},{"id":"f519a623-367a-46ee-ab9c-8f60d74880d0","block_type":"box","text":"office of State Street Global Advisors Europe","page_number":3,"box":{"x":59,"y":746,"width":186,"height":8}},{"id":"2e650de9-c513-461d-97cd-ba1a837a8788","block_type":"box","text":"Limited, registered in Ireland with company","page_number":3,"box":{"x":59,"y":756,"width":182,"height":9}},{"id":"d22597b1-9f3f-457f-bb09-eddb18178747","block_type":"box","text":"number 49934, authorised and regulated","page_number":3,"box":{"x":59,"y":766,"width":175,"height":9}},{"id":"fba4e44d-d018-47c7-87e6-15f3773c078c","block_type":"box","text":"by the Central Bank of Ireland, and whose","page_number":3,"box":{"x":59,"y":777,"width":173,"height":8}},{"id":"608db313-2482-4e40-abde-5bfab551d8b7","block_type":"box","text":"registered office is at 78 Sir John Rogerson's","page_number":3,"box":{"x":59,"y":787,"width":185,"height":8}},{"id":"0232a09a-e961-4b32-9a1f-15d14553c3dd","block_type":"box","text":"Quay, Dublin 2.","page_number":3,"box":{"x":59,"y":797,"width":61,"height":8}},{"id":"b95604de-669c-4c3e-a43c-09855b8a77ad","block_type":"box","text":"Switzerland:","page_number":3,"box":{"x":59,"y":817,"width":58,"height":7}},{"id":"e2f42fb4-6311-4b92-a870-c5ce8dba8deb","block_type":"box","text":"State Street Global Advisors AG,","page_number":3,"box":{"x":120,"y":817,"width":136,"height":7}},{"id":"dd6bd08c-005d-40fe-85c1-887b1c947452","block_type":"box","text":"Beethovenstr. 19, CH-8027 Zurich. Registered","page_number":3,"box":{"x":59,"y":827,"width":192,"height":8}},{"id":"922c1e8c-7d33-4b36-9c9c-b8c317692e77","block_type":"box","text":"with the Register of Commerce Zurich CHE","page_number":3,"box":{"x":58,"y":837,"width":183,"height":8}},{"id":"f4ab845c-b490-4dcf-b9e6-2707a9d2196b","block_type":"box","text":"105.078.458. T: +41 (0)44 245 70 00. F: +41","page_number":3,"box":{"x":58,"y":847,"width":183,"height":8}},{"id":"70153ce8-ebb0-4e27-b28c-5c8dc3c6f806","block_type":"box","text":"(0)44 245 70 16.","page_number":3,"box":{"x":59,"y":857,"width":69,"height":8}},{"id":"ed31c1da-2bed-454d-846a-adc72eadb4e1","block_type":"box","text":"NOTICE TO PERSONS IN THE EUROPEAN","page_number":3,"box":{"x":59,"y":878,"width":189,"height":6}},{"id":"fe6954c2-e3dc-4cac-a05e-541fce950cf3","block_type":"box","text":"ECONOMIC AREA (\"EEA\")","page_number":3,"box":{"x":59,"y":887,"width":117,"height":8}},{"id":"3af2458f-5ebb-4dee-8bb8-8c047de4a8e1","block_type":"box","text":"The fund is permitted to market into the","page_number":3,"box":{"x":59,"y":898,"width":168,"height":8}},{"id":"3fcb3581-b819-4ebe-abd9-e6bf079bc4be","block_type":"box","text":"relevant EEA jurisdiction pursuant to either","page_number":3,"box":{"x":59,"y":908,"width":181,"height":8}},{"id":"5e5e6fa5-084c-4aa7-b266-9010080a2d1f","block_type":"box","text":"Article 42 of AIFMD (if and as implemented","page_number":3,"box":{"x":286,"y":441,"width":180,"height":8}},{"id":"01103671-8fdf-4790-a9e2-b511d190572d","block_type":"box","text":"under national laws of such member state);","page_number":3,"box":{"x":287,"y":451,"width":180,"height":8}},{"id":"b22c2dc5-6722-4e42-936e-48bb53fcc6cf","block_type":"box","text":"or (ii) can otherwise be lawfully offered or","page_number":3,"box":{"x":287,"y":461,"width":172,"height":9}},{"id":"248c6b3f-5ff0-44f8-85fe-260898e33316","block_type":"box","text":"sold (including on the basis of an unsolicited","page_number":3,"box":{"x":287,"y":471,"width":184,"height":9}},{"id":"b77538f5-4c19-466e-b93c-04052f0cd985","block_type":"box","text":"request from a professional client/qualified","page_number":3,"box":{"x":287,"y":481,"width":180,"height":9}},{"id":"31f64141-5d03-44ea-80d9-29716b0d0d10","block_type":"box","text":"investor).","page_number":3,"box":{"x":287,"y":491,"width":38,"height":8}},{"id":"5b3a55f2-33a5-45ae-91cf-10fee5a3fa07","block_type":"box","text":"The Fund is an alternative investment","page_number":3,"box":{"x":286,"y":512,"width":178,"height":6}},{"id":"0f2a5eeb-b918-445a-859d-c5adef076fb4","block_type":"box","text":"fund for the purpose of the European","page_number":3,"box":{"x":286,"y":522,"width":173,"height":8}},{"id":"9485780a-d391-4321-b9b8-05b79606e94c","block_type":"box","text":"Union Alternative Investment Fund","page_number":3,"box":{"x":287,"y":532,"width":164,"height":7}},{"id":"fb29352b-f319-414c-a29d-36a53003cabf","block_type":"box","text":"Managers Directive (Directive 2011/61/","page_number":3,"box":{"x":287,"y":542,"width":181,"height":8}},{"id":"461cb2c5-5325-499c-ac18-71c20887929b","block_type":"box","text":"EU) (the \"AIFMD\"). It is not a regulated","page_number":3,"box":{"x":287,"y":552,"width":177,"height":8}},{"id":"ad21e8d1-21c8-4b91-b0cc-38077ba1cd3b","block_type":"box","text":"collective investment scheme for","page_number":3,"box":{"x":286,"y":562,"width":157,"height":7}},{"id":"c2203aa3-442f-4bee-98ac-68b76da08882","block_type":"box","text":"purposes of the Financial Services and","page_number":3,"box":{"x":287,"y":572,"width":181,"height":9}},{"id":"4f3c0b27-a277-4418-b4c7-05bcdbbb6c01","block_type":"box","text":"Markets Act 2000 of the United Kingdom","page_number":3,"box":{"x":287,"y":583,"width":193,"height":8}},{"id":"4e4500c6-9e31-4392-a804-ed2595582e51","block_type":"box","text":"(\"FSMA\"). The promotion of the fund and","page_number":3,"box":{"x":287,"y":593,"width":190,"height":8}},{"id":"17efbfdd-8114-484b-b425-524db3880e7e","block_type":"box","text":"the distribution of this material in the","page_number":3,"box":{"x":286,"y":603,"width":176,"height":6}},{"id":"861da319-93a3-4ff4-b269-0a1656648633","block_type":"box","text":"UK is restricted by law to Professional","page_number":3,"box":{"x":287,"y":613,"width":177,"height":8}},{"id":"320bebd4-71d6-4082-ab23-d4e521e565dd","block_type":"box","text":"Investors Only. The information provided","page_number":3,"box":{"x":287,"y":623,"width":192,"height":8}},{"id":"44d2ee94-dd16-41a1-a093-1fde822cc8a0","block_type":"box","text":"does not constitute tax advice, investors","page_number":3,"box":{"x":286,"y":633,"width":192,"height":8}},{"id":"a8d4a258-73cd-4506-9379-3c59027052b2","block_type":"box","text":"should consult their tax advisors with","page_number":3,"box":{"x":286,"y":643,"width":177,"height":7}},{"id":"c3065a97-321f-4504-9951-df7f46b18773","block_type":"box","text":"respect to their particular tax situations","page_number":3,"box":{"x":287,"y":653,"width":188,"height":8}},{"id":"7a628135-a11c-4b3b-80e9-5b7fd0850e1e","block_type":"box","text":"and the tax effects of an investment","page_number":3,"box":{"x":286,"y":663,"width":169,"height":7}},{"id":"dcfceaf4-add1-4ca1-99c2-e053622eb0d5","block_type":"box","text":"in the Fund.","page_number":3,"box":{"x":287,"y":674,"width":54,"height":6}},{"id":"c9751f9c-9459-4081-9170-afaf8bf9cb6e","block_type":"box","text":"The fund is an alternative investment","page_number":3,"box":{"x":286,"y":694,"width":176,"height":6}},{"id":"9efc34e8-3f5f-43b8-84bb-2ca948830ba9","block_type":"box","text":"fund for the purpose of the European","page_number":3,"box":{"x":286,"y":704,"width":173,"height":8}},{"id":"bc12bac2-3633-4a70-90e6-e424ea3acdc9","block_type":"box","text":"Union Alternative Investment Fund","page_number":3,"box":{"x":287,"y":714,"width":164,"height":6}},{"id":"a73f09c0-8cd6-423f-afb9-9dfc1ad96d90","block_type":"box","text":"Managers Directive (Directive 2011/61/","page_number":3,"box":{"x":287,"y":724,"width":181,"height":8}},{"id":"1c09302d-2b74-4371-9efb-0a6fd23027ce","block_type":"box","text":"EU) (\"AIFMD\"). SSGA Funds Management,","page_number":3,"box":{"x":287,"y":734,"width":194,"height":8}},{"id":"ff0266be-1230-40b7-8386-57f4a95621f1","block_type":"box","text":"Inc. or State Street Global Advisors Trust","page_number":3,"box":{"x":287,"y":744,"width":192,"height":7}},{"id":"a712bd5f-cb3a-43db-a41a-bf0a27806695","block_type":"box","text":"Company is the alternative investment","page_number":3,"box":{"x":287,"y":754,"width":182,"height":8}},{"id":"fa8900dd-ac4c-4fa9-bdb0-3b896f11a332","block_type":"box","text":"fund manager (\"AIFM\") of the fund.","page_number":3,"box":{"x":286,"y":764,"width":164,"height":9}},{"id":"950edf90-6091-4295-87fe-ab9f5bf61c9a","block_type":"box","text":"For Switzerland Qualified Investor:","page_number":3,"box":{"x":287,"y":785,"width":162,"height":7}},{"id":"e351bb77-a7ac-4b4a-a1b5-4e7c4c0a99fc","block_type":"box","text":"The","page_number":3,"box":{"x":452,"y":785,"width":15,"height":6}},{"id":"caf27d96-c4d6-4e9a-bdf2-3589c05fb677","block_type":"box","text":"distribution of interests of U.S. SPDR ETFs in","page_number":3,"box":{"x":287,"y":795,"width":185,"height":6}},{"id":"216b3680-b742-4347-8639-3bcb4e8542c9","block_type":"box","text":"Switzerland will be exclusively made to, and","page_number":3,"box":{"x":287,"y":805,"width":183,"height":8}},{"id":"976932f1-9e00-4220-894b-1172045ed1ba","block_type":"box","text":"directed at, qualified investors according to","page_number":3,"box":{"x":287,"y":815,"width":182,"height":8}},{"id":"9a9ffbd5-03b6-466f-8d23-6eae2c71c002","block_type":"box","text":"Article 10(3) and (3ter) of the Swiss Collective","page_number":3,"box":{"x":286,"y":825,"width":190,"height":7}},{"id":"4c820f36-ff32-4adb-b897-c16085190154","block_type":"box","text":"Investment Schemes Act (\"CISA\") and its","page_number":3,"box":{"x":287,"y":835,"width":171,"height":7}},{"id":"c25f0c06-4b7e-45d6-8ffb-062c09ab6de1","block_type":"box","text":"implementing ordinance. The legal documents","page_number":3,"box":{"x":287,"y":845,"width":195,"height":8}},{"id":"b90a6e27-3059-419a-8fab-c867b2b16716","block_type":"box","text":"of U.S. SPDR ETFs can be obtained free of","page_number":3,"box":{"x":287,"y":855,"width":173,"height":7}},{"id":"18c30302-e120-40de-babb-8eb8c4f8418b","block_type":"box","text":"charge from the representative in Switzerland.","page_number":3,"box":{"x":287,"y":865,"width":195,"height":9}},{"id":"7db6dd1a-7274-4bc0-b24c-f99d0249a65a","block_type":"box","text":"Swiss Representative & Swiss Paying Agent:","page_number":3,"box":{"x":287,"y":876,"width":186,"height":8}},{"id":"6bc49338-0387-430b-8500-ad8bf82a607a","block_type":"box","text":"State Street Bank International GmbH","page_number":3,"box":{"x":287,"y":886,"width":159,"height":6}},{"id":"b49a17dc-94a5-4571-8661-48bbb5ca636d","block_type":"box","text":"Beethovenstrasse 19 8027 Zurich, Switzerland","page_number":3,"box":{"x":287,"y":896,"width":195,"height":7}},{"id":"0abdef7e-17a9-42c7-a552-5ad1b05688a5","block_type":"box","text":"Tel: +41 44 560 500","page_number":3,"box":{"x":286,"y":906,"width":86,"height":6}},{"id":"f131243e-e6d2-4f35-b364-1408e3666915","block_type":"box","text":"SSGA Funds Management, Inc. serves as the","page_number":3,"box":{"x":514,"y":453,"width":187,"height":9}},{"id":"04225d88-a663-4c4e-b447-098690e78879","block_type":"box","text":"investment advisor to the SPDR ETFs that are","page_number":3,"box":{"x":515,"y":463,"width":191,"height":7}},{"id":"db98a7c4-09cb-433c-936e-538760ecb1fe","block_type":"box","text":"registered with the United States Securities","page_number":3,"box":{"x":515,"y":474,"width":183,"height":8}},{"id":"b0189b4e-af5a-4c84-b882-6686061926a1","block_type":"box","text":"and Exchange Commission under the","page_number":3,"box":{"x":514,"y":484,"width":157,"height":8}},{"id":"e794cd9a-02c7-4763-9b3d-319b35105434","block_type":"box","text":"Investment Company Act of 1940. SSGA Funds","page_number":3,"box":{"x":515,"y":494,"width":197,"height":8}},{"id":"adf30ca5-4821-424f-8ead-ed75a40ccc26","block_type":"box","text":"Management, Inc. is an affiliate of State Street","page_number":3,"box":{"x":515,"y":504,"width":192,"height":8}},{"id":"5a89dc97-afab-489a-9287-1c020e740036","block_type":"box","text":"Global Advisors Limited.","page_number":3,"box":{"x":515,"y":514,"width":102,"height":6}},{"id":"92a30349-7eb0-4e9c-837d-49bf10a3edd7","block_type":"box","text":"Diversification does not ensure a profit or","page_number":3,"box":{"x":515,"y":536,"width":173,"height":8}},{"id":"8cf33287-a9dc-4985-99b5-04a66d2b7e30","block_type":"box","text":"guarantee against loss.","page_number":3,"box":{"x":514,"y":546,"width":98,"height":8}},{"id":"9647718c-f494-4e93-87b5-036cc57dc6b8","block_type":"box","text":"The information provided does not constitute","page_number":3,"box":{"x":514,"y":556,"width":192,"height":8}},{"id":"59721c9d-95ee-4120-a79c-e4d2d77e01ec","block_type":"box","text":"investment advice as such term is defined","page_number":3,"box":{"x":515,"y":566,"width":176,"height":7}},{"id":"41170574-ab90-4f14-ba5d-60be00a96ffc","block_type":"box","text":"under the Markets in Financial Instruments","page_number":3,"box":{"x":515,"y":577,"width":181,"height":6}},{"id":"29cf8763-ab73-4d4c-b8da-6beda669f627","block_type":"box","text":"Directive (2014/65/EU) and it should not be","page_number":3,"box":{"x":515,"y":586,"width":181,"height":8}},{"id":"b2cb6e8b-3e3b-49a1-bee0-6a5c4b773dfa","block_type":"box","text":"relied on as such. It should not be considered","page_number":3,"box":{"x":515,"y":597,"width":188,"height":6}},{"id":"9ede791e-5afd-4da2-9cc8-06824570dcdd","block_type":"box","text":"a solicitation to buy or an offer to sell any","page_number":3,"box":{"x":514,"y":607,"width":172,"height":8}},{"id":"cb23d782-f90f-422a-914e-04ff63d2f47b","block_type":"box","text":"investment. It does not take into account any","page_number":3,"box":{"x":515,"y":617,"width":189,"height":8}},{"id":"48082a92-cb77-4e5c-8368-cdaf8dc52843","block_type":"box","text":"investor's or potential investor’s particular","page_number":3,"box":{"x":515,"y":627,"width":178,"height":8}},{"id":"65737444-7128-45ee-a8a6-a8c71845808d","block_type":"box","text":"investment objectives, strategies, tax","page_number":3,"box":{"x":515,"y":637,"width":158,"height":8}},{"id":"97054c2f-d6c6-404f-b202-b0bf151d056f","block_type":"box","text":"status, risk appetite or investment horizon.","page_number":3,"box":{"x":514,"y":647,"width":181,"height":8}},{"id":"f7f31d4e-e78f-424c-b968-0b52b04545be","block_type":"box","text":"If you require investment advice you should","page_number":3,"box":{"x":515,"y":657,"width":182,"height":9}},{"id":"b60b367a-38c9-42e9-8eba-bfb92ab457d9","block_type":"box","text":"consult your tax and financial or other","page_number":3,"box":{"x":515,"y":667,"width":159,"height":9}},{"id":"fa0f51cd-ae2e-4f79-8f9b-bb4c05425813","block_type":"box","text":"professional advisor.","page_number":3,"box":{"x":515,"y":678,"width":86,"height":8}},{"id":"d7703d85-7c8e-4d21-a0e7-8619dcd61359","block_type":"box","text":"Key/Investment Risk Disclosures:","page_number":3,"box":{"x":515,"y":700,"width":157,"height":8}},{"id":"5fbaf398-9e1d-462d-896a-71fc14bde27f","block_type":"box","text":"Capital at risk.","page_number":3,"box":{"x":515,"y":710,"width":67,"height":8}},{"id":"fb6e355f-ba85-4984-911c-71045d53148f","block_type":"box","text":"Investing involves risk","page_number":3,"box":{"x":585,"y":710,"width":93,"height":8}},{"id":"99663d0a-85f1-4804-8616-4a916aeb89f5","block_type":"box","text":"including the risk of loss of principal.","page_number":3,"box":{"x":515,"y":720,"width":151,"height":8}},{"id":"33d00529-fe12-492c-b6d6-05c0bfdcadd7","block_type":"box","text":"Foreign Securities","page_number":3,"box":{"x":515,"y":730,"width":85,"height":8}},{"id":"586a1098-c1e8-4300-a92f-5d5a0f26e837","block_type":"box","text":"may be subject to greater","page_number":3,"box":{"x":603,"y":730,"width":107,"height":8}},{"id":"3cc547bc-e532-4d40-b364-9fff5b91c0c7","block_type":"box","text":"political, economic, environmental, credit and","page_number":3,"box":{"x":515,"y":740,"width":191,"height":8}},{"id":"f0fea603-67d0-4aaa-a316-a6c8a601aa33","block_type":"box","text":"information risks. Foreign securities may be","page_number":3,"box":{"x":515,"y":750,"width":183,"height":9}},{"id":"c10331e4-c922-4318-87a0-436a46b43d4d","block_type":"box","text":"subject to higher volatility than U.S. securities,","page_number":3,"box":{"x":514,"y":760,"width":195,"height":9}},{"id":"eed67ade-79a7-42f6-b041-c9cf6df334ad","block_type":"box","text":"due to varying degrees of regulation and","page_number":3,"box":{"x":515,"y":770,"width":168,"height":9}},{"id":"984765c0-caf6-47fc-9f95-bd69d77d185f","block_type":"box","text":"limited liquidity.","page_number":3,"box":{"x":515,"y":781,"width":66,"height":8}},{"id":"2ca5b327-bfc2-45eb-bad9-5e4d82338a4c","block_type":"box","text":"Before investing, consider the funds'","page_number":3,"box":{"x":515,"y":803,"width":171,"height":8}},{"id":"d80528dd-5738-4f94-9852-e30fda06d94d","block_type":"box","text":"investment objectives, risks, charges and","page_number":3,"box":{"x":515,"y":813,"width":194,"height":8}},{"id":"3f21c25f-d9c5-48de-9ff3-b72cf56f94f2","block_type":"box","text":"expenses. To obtain a prospectus which","page_number":3,"box":{"x":514,"y":823,"width":188,"height":8}},{"id":"c055ff6f-f886-496b-a7ad-d0b8cd282d00","block_type":"box","text":"contains this and other information, visit","page_number":3,"box":{"x":514,"y":833,"width":192,"height":8}},{"id":"2a23aaf9-d18b-45dd-8a65-71e1c8dca956","block_type":"box","text":"www.statestreet.com/im or talk to your","page_number":3,"box":{"x":514,"y":843,"width":187,"height":8}},{"id":"2c6e8a3b-def4-495a-9a08-4326f4e70c15","block_type":"box","text":"financial advisor. Read it carefully before","page_number":3,"box":{"x":514,"y":853,"width":193,"height":8}},{"id":"6ac30204-3b61-4937-8b3b-051eb3dfa10d","block_type":"box","text":"investing.","page_number":3,"box":{"x":515,"y":864,"width":45,"height":8}},{"id":"88fb3c74-44f0-4bba-8a1a-479f78f11815","block_type":"box","text":"The whole or any part of this work may not be","page_number":3,"box":{"x":514,"y":886,"width":191,"height":8}},{"id":"0f23fa13-e72c-435a-b4c0-9eaa10b52ed8","block_type":"box","text":"reproduced, copied or transmitted or any of","page_number":3,"box":{"x":515,"y":896,"width":184,"height":8}},{"id":"12e5d19f-6408-47d4-9967-ab1c95ada911","block_type":"box","text":"its contents disclosed to third parties without","page_number":3,"box":{"x":515,"y":906,"width":191,"height":8}},{"id":"93902f29-3851-48e1-bc92-624a4701e700","block_type":"box","text":"State Street Investment Management's","page_number":3,"box":{"x":742,"y":441,"width":166,"height":8}},{"id":"9e3d4de4-3109-4a58-8c8e-84ac214f3571","block_type":"box","text":"express written consent.","page_number":3,"box":{"x":742,"y":452,"width":104,"height":7}},{"id":"21bcdcc8-f99c-4607-af16-5cc4e8d4f945","block_type":"box","text":"The information contained in this","page_number":3,"box":{"x":742,"y":474,"width":157,"height":6}},{"id":"d5a2a6b2-3bf1-40be-a24a-4adb11af7c9a","block_type":"box","text":"communication is not a research","page_number":3,"box":{"x":742,"y":484,"width":154,"height":6}},{"id":"bf9dffd1-1bae-48bc-b4b1-76effcd3164d","block_type":"box","text":"recommendation or 'investment","page_number":3,"box":{"x":743,"y":494,"width":151,"height":6}},{"id":"af320957-e4cb-40fe-8e32-4f45432514ba","block_type":"box","text":"research' and is classified as a 'Marketing","page_number":3,"box":{"x":743,"y":504,"width":195,"height":8}},{"id":"92f9da03-5d55-43f4-b576-3177ca6f4579","block_type":"box","text":"Communication' in accordance with","page_number":3,"box":{"x":742,"y":514,"width":169,"height":6}},{"id":"3a249802-6c05-4df5-b670-eb5a30b93ee5","block_type":"box","text":"the Markets in Financial Instruments","page_number":3,"box":{"x":742,"y":524,"width":174,"height":7}},{"id":"ca9fff9a-9da0-406f-8a42-ba6d70a5655b","block_type":"box","text":"Directive (2014/65/EU) or applicable","page_number":3,"box":{"x":743,"y":534,"width":172,"height":8}},{"id":"61c51b4d-ad05-4789-a01d-2a6bfde932fd","block_type":"box","text":"Swiss regulation. This means that this","page_number":3,"box":{"x":742,"y":544,"width":179,"height":8}},{"id":"7ffeb3df-3273-4dc4-b0fa-e5c288189bb9","block_type":"box","text":"marketing communication (a) has not","page_number":3,"box":{"x":743,"y":554,"width":176,"height":9}},{"id":"82450fd3-34da-49b2-8ada-b8030c3ddd5d","block_type":"box","text":"been prepared in accordance with legal","page_number":3,"box":{"x":743,"y":565,"width":184,"height":8}},{"id":"ae340cf0-b754-426a-a958-d93b6713c5c1","block_type":"box","text":"requirements designed to promote the","page_number":3,"box":{"x":743,"y":575,"width":181,"height":8}},{"id":"be1eefa6-ff61-4ea9-a338-998d9079ca72","block_type":"box","text":"independence of investment research","page_number":3,"box":{"x":743,"y":585,"width":178,"height":8}},{"id":"a076c3dc-6597-4d98-93fb-211c0de99eb1","block_type":"box","text":"(b) is not subject to any prohibition on","page_number":3,"box":{"x":742,"y":595,"width":178,"height":8}},{"id":"44ac177a-9215-4068-9312-d2cf4458dfb9","block_type":"box","text":"dealing ahead of the dissemination of","page_number":3,"box":{"x":742,"y":605,"width":176,"height":8}},{"id":"63256c6e-5cbf-4bc6-956f-003140d553fd","block_type":"box","text":"investment research.","page_number":3,"box":{"x":743,"y":615,"width":100,"height":6}},{"id":"7e24f95f-67d4-4639-a890-4c2a4e33b3ee","block_type":"box","text":"This communication is directed at professional","page_number":3,"box":{"x":742,"y":635,"width":197,"height":8}},{"id":"ba1f0fc2-2772-4aff-9e2c-91277cf30e2b","block_type":"box","text":"clients (this includes eligible counterparties","page_number":3,"box":{"x":742,"y":645,"width":184,"height":8}},{"id":"f5e61056-1c91-4f46-988e-dc10c72c9ae0","block_type":"box","text":"as defined by the appropriate EU regulator)","page_number":3,"box":{"x":742,"y":655,"width":181,"height":9}},{"id":"54d387a6-fb54-436f-af00-c0669d68b220","block_type":"box","text":"who are deemed both knowledgeable","page_number":3,"box":{"x":742,"y":666,"width":157,"height":8}},{"id":"7622226f-b8e3-44a4-a728-eee803ecd962","block_type":"box","text":"and experienced in matters relating to","page_number":3,"box":{"x":742,"y":676,"width":161,"height":8}},{"id":"18805afc-44b6-462b-b763-8c5ae7d2e670","block_type":"box","text":"investments. The products and services to","page_number":3,"box":{"x":743,"y":686,"width":179,"height":8}},{"id":"fe91fe2b-ec32-4c17-b0c9-217f8fc7c085","block_type":"box","text":"which this communication relates are only","page_number":3,"box":{"x":742,"y":696,"width":178,"height":8}},{"id":"3becf02a-dbeb-450b-8254-3313e1d2d3d0","block_type":"box","text":"available to such persons and persons of any","page_number":3,"box":{"x":742,"y":706,"width":189,"height":8}},{"id":"688eae12-196a-4c22-be12-ebcbf6a6c868","block_type":"box","text":"other description (including retail clients)","page_number":3,"box":{"x":742,"y":716,"width":173,"height":8}},{"id":"55586456-0f03-4f12-ac85-3a1dde0008d3","block_type":"box","text":"should not rely on this communication.","page_number":3,"box":{"x":742,"y":726,"width":163,"height":8}},{"id":"b125f291-4120-4244-8c6c-669a86f2d807","block_type":"box","text":"All information is from SSGA unless otherwise","page_number":3,"box":{"x":742,"y":746,"width":193,"height":7}},{"id":"a8142eac-eb2f-4161-bfb8-65760123c34f","block_type":"box","text":"noted and has been obtained from sources","page_number":3,"box":{"x":743,"y":756,"width":180,"height":7}},{"id":"4de2e1d3-d0a3-4c74-a323-21156ce97d43","block_type":"box","text":"believed to be reliable, but its accuracy is not","page_number":3,"box":{"x":743,"y":767,"width":188,"height":8}},{"id":"dad55a58-ab46-419c-88eb-13d70c4b3d12","block_type":"box","text":"guaranteed. There is no representation or","page_number":3,"box":{"x":742,"y":777,"width":176,"height":8}},{"id":"7412b402-273c-41da-8b39-62785d0dd459","block_type":"box","text":"warranty as to the current accuracy, reliability","page_number":3,"box":{"x":742,"y":787,"width":194,"height":8}},{"id":"de6a2f9d-a02e-4d01-a138-52ab0abe059c","block_type":"box","text":"or completeness of, nor liability for, decisions","page_number":3,"box":{"x":742,"y":797,"width":189,"height":8}},{"id":"18c4c2f7-a086-492b-b28f-c203e3f8d18f","block_type":"box","text":"based on such information and it should not be","page_number":3,"box":{"x":743,"y":807,"width":196,"height":6}},{"id":"8aa39ad6-d920-4348-891c-032f6146e20b","block_type":"box","text":"relied on as such.","page_number":3,"box":{"x":743,"y":817,"width":72,"height":6}},{"id":"c0b13f5b-5d8c-4a3c-8a79-4d4d45d16231","block_type":"box","text":"Tracking Number: 7729361.1.1.EMEA.INST","page_number":3,"box":{"x":742,"y":839,"width":175,"height":8}},{"id":"b83e8002-c345-4670-81d8-3b5c58366045","block_type":"box","text":"©","page_number":3,"box":{"x":742,"y":849,"width":5,"height":3}},{"id":"a848e965-cf79-407f-a2d9-698b04be463b","block_type":"box","text":"2026 State Street Corporation.","page_number":3,"box":{"x":749,"y":849,"width":131,"height":8}},{"id":"4901a3e8-3bb4-4ecd-a887-80451fefd7c7","block_type":"box","text":"All Rights Reserved.","page_number":3,"box":{"x":742,"y":859,"width":84,"height":9}},{"id":"c0e704bd-218d-4316-9f16-72566c6f2933","block_type":"box","text":"Expiration Date: 01/31/2027","page_number":3,"box":{"x":743,"y":869,"width":116,"height":9}},{"id":"42860671-7142-4e85-a067-7450075f9e1f","block_type":"box","text":"ETF-XLY 20261007/19:15","page_number":3,"box":{"x":743,"y":879,"width":104,"height":8}}],"unit":"per_mille","page_width":612,"page_height":792,"attributes":{"chunk_type":"page_range","start_page":1,"end_page":3}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"772140d5-2a8e-4dd6-b80d-6cf742440815"},"user_id":1000002,"date_created":"2026-10-08T01:18:32.881000Z","date_modified":"2026-10-08T01:18:32.881000Z","private":false}