Technology Select Sector SPDR Fund

The Technology Select Sector SPDR Fund (the ''fund")strives to offer investment outcomes that are usually consistent with the price and yield performance of the Technology Select Sector Index (the "Index") before expenses(2).

In seeking to track the performance of the index, the fund employs a replication strategy, which means that the fund typically invests in substantially all of the securities represented in the index in approximately the same proportions as the index. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The fund is non-diversified.

This index, whose components include Apple, Microsoft, Nvidia, Broadcom, and Cisco, includes stocks primarily focused on internet software and service companies, IT consulting services, semiconductor equipment, computers, and peripherals (1).

ABOUTEdit

Under normal market conditions, the Fund normally invests practically all of its total assets, but at least 95%, in the securities that comprise the Index. Prior to any major change in this 95% investing policy, the Fund will provide shareholders with at least 60 days' notice. Furthermore, the Fund may invest in cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Fund's investment adviser, SSGA Funds Management, Inc. ("SSGA FM" or the "Adviser").

The Index includes securities from the following industries: technology hardware, storage, and peripherals; software; diversified telecommunication services; communications equipment; semiconductors and semiconductor equipment; internet software and services; information technology services; electronic equipment, instruments, and components; and wireless telecommunication services. The Index is one of eleven Select Sector Indexes created and maintained using the following criteria:

Each of the Index's component shares is a constituent company of the S&P 500 Index.
S&P Dow Jones Indices LLC ("S&P DJI") calculates the Index based on methodology proprietary to S&P DJI and BofA Merrill Lynch Research ("BofA Merrill Lynch") (S&P DJI and BofA Merrill Lynch, collectively, the "Index Provider"), using a "modified market capitalization" methodology, which means that modifications to the market capitalization weights of single stock concentrations may be made to conform to the requirements of the Internal Revenue Code of The Index contained 72 stocks as of November 30, 2017.

DISCLOSURE ABOUT DISRIBUTIONSEdit

Dividends from stocks and interest from debt instruments are the two main sources of income for each Select Sector SPDR. On a quarterly basis, "income dividend distributions" are made to shareholders from these sums, after expenses. Every time a Select Sector SPDR sells shares, capital gains or losses are also realized. Annual "capital gain distributions" are made to shareholders in the form of net long-term capital gains. In general, whether you take distributions in cash or reinvest them in a Select Sector SPDR, they are taxed as federal income when they are paid. Distributions made from a Select Sector SPDR's earnings and profits are subject to ordinary income tax.Distributions of net long-term capital gains in excess of short-term capital losses are taxable as long-term capital gains, regardless of how long you have owned the shares.Tax information is provided in broad strokes. You should discuss the tax implications of investing in a Select Sector SPDR with your personal tax counsel (1).

FUND INFORMATIONEdit

ISIN US81369Y8030 Fund Objective The Technology Select Sector SPDR description

BENCHMARK	TECHNOLOGY SELECT SECTOR INDEX
INCEPTION DATE	DEC 16 1998
ISIN	US81369Y8030
SIZE	LARGE CAP
INDUSTRY	BROAD TECHNOLOGY
BROAD ASSET CLASS	SECTOR EQUITY
BROAD CATEGORY	EQUITY
GROSS EXPENSE RATIO	0.10%
BASE CURRENCY	USD
INCOME TREATMENT	DISTRIBUTION
ISSUER	STATE STREET GLOBAL ADVISORS FUNDS MANAGEMENT INC
INVESTMENT MANAGER	SSGA FUNDS MANAGEMENT ,INC.
MANAGEMENT TEAM	GLOBAL EQUITY BETA SOLUTIONS
LEGAL STRUCTURE	OPEN-ENDED FUND
DISTRIBUTOR	ALPS portfolio solutions distributor , inc.
DISTRIBUTOR FREQUENCY	Quarterly

permissible marketing countries are UNITED STATES, UNITED KINGDOM , SWEDEN , NETHERLANDS , SWITZERLAND

LISTINGS


EXCHANGE	EXCHANGE TICKER	TRADING CURRENCY	INAV TICKER	REUTERS CODE
NYSE ARICA EXCHANGE	XLK	USD	XLKIV	XLK.P
BOLSA MAXICANA DE VALORES	XLK	MXN	-	-

TOP 10 HOLDINGS


SYMBOL	COMPANY NAME	INDUSTRY	PERCENTAGE OF ASSETS
AAPL	APPLE INC	technology hardware , storage	23.13%
MSFT	MICROSOFT CORP	software	22.13%
NVDA	NVIDIA CORP	semiconductors	5.04%
AVGO	BROADCOM INC	semiconductors	4.42%
ADBE	ADOBE INC	software	2.86%
CRM	SALESFORCE INC	software	2.6%
CSCO	CISCO SYSTEMS INC	communication equipment	2.51%
--	ACCENTURE PLC CLASS A	IT services	2.35%
ORCL	ORACLE CORP	software	2.1%
AMD	ADVANCED MICRODEVICES	semiconductors	2.1%

COUNTRIES


COUNTRIES	HOLDINGS PERCENTAGE
UNITED STATES	95.82%
IRELAND	2.70%
OTHER	1.48%

SECTORS


SECTORS	PERCENTAGE
TECHNOLOGY	94.05%
INDUSTRIALS	5.00%
OIL & GAS	0.69%
NON CLASSIFIED EQUITY	0.14%
OTHERS	0.13%

TOP INVESTORS



BANK OF AMERICA
WELLS FARGO
MORGAN STANLEY

XLK SECTOR CONCENTRATION



APPLICATION SOFTWARE	36.84%
COMPUTERS	24.64%
SEMICONDUCTORS	23.24%
MANUFACTURING	4.92%
BUSINESS SERVICES & EQUIPMENT	4.65%
INFORMATION TECHNOLOGY SERVICES	2.35%
ELECTRONIC EQUIPMENT & PRODUCTS	2.0%
INDUSTRIAL MACHINERY AND EQUIPMENT	1.48%
COMPUTER PERIPHERAL	0.15%
OTHER SECTORS	0.01%

RISKS

Select sector SPDR also may be unfavourable by the performace of specific company in the technology sector . Investing in the Fund carries inherent risks, just like any other investment. Fund shares will fluctuate in value, and you may lose money if you invest in the Fund. The Federal Deposit Insurance Corporation or any other government entity does not insure or guarantee investments in the Fund.

INDEX TRACKING RISK

The Fund is managed using an indexing investment approach, which seeks to replicate the performance of an unmanaged index of securities, regardless of the Index's current or future performance or the actual securities that comprise the Index.
an actively managed fund often tries to exceed a benchmark index. As a result, the Fund's performance may be less favorable than that of an active investment strategy-managed portfolio
The Index's structure and composition will impact its performance, volatility, and risk, as well as the Fund's performance, volatility, and risk. While the Adviser attempts to track the Index's performance
The Fund incurs a number of operating expenditures that are not applicable to the Index, as well as charges associated with buying and selling assets. Furthermore, the Fund may not be completely invested at times, typically as a result of cash flows into or out of the Fund or cash reserves kept by the Fund to cover redemptions.

TECHNOLOGY SECTOR RISK

the Fund will be more affected by the performance of the technology sector than a more diversified fund
Market or economic issues affecting technology companies and businesses that rely largely on technical breakthroughs may have a significant impact on the Fund's investments.
Stocks of technology companies and companies that rely heavily on technology are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation, and domestic and international competition, including competition from foreign competitors with lower production costs.

FUND MANAGER ANALYSIS

KARL SCHNEIDER


START DATE	TENURE	TENURE RANK
JAN 31,2015	7.33	7.3%

Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, as well as the Head of U.S. stock Strategies for GEBS, where he oversees the management of the U.S. stock index strategies and serves as a portfolio manager for several of the group's passive equity portfolios. He formerly worked as a portfolio manager and product specialist for synthetic beta strategies such as commodities, buy/write, and hedge fund replication at GEBS. Mr. Schneider formerly worked as a portfolio manager in SSGA's Currency Management Group, where he managed both active currency selection and classic passive hedging overlay portfolios. In 1996, he became a member of the SSGA. Mr. Schneider graduated from Babson College with a BS in finance and investments and Boston College with an MS in finance. He holds the Chartered Alternative Investment Analyst certification. Mr. Schneider belongs to the CAIA Association.

DAVID CHIN


START DATE	TENURE	TENURE RANK
JAN 3, 2017	5.41	5.4%

David Chin is a Senior Portfolio Manager in SSGA's Global Equity Beta Solutions Group and a Vice President at SSGA. Mr. Chin worked as a product analyst in the Analytical Services Group at Frank Russell Company before joining SSGA in 1999. He formerly worked at OneSource Information Systems, where he developed investment software. Prior to this, he worked in the Research & Development group at PanAgora Asset Management, where he developed quantitative investment models for foreign equities. Mr. Chin has been in the financial management industry since 1992. Mr. Chin graduated from the University of Massachusetts/Boston with a Bachelor of Science in Management Information Systems and the University of Arizona with a Master of Business Administration.