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SPDR Morgan Stanley Technology ETF (MTK)
Fund Objective Why was this benchmark selected?

The SPDR® Morgan Stanley Technology ETF, before expenses, seeks to closely match the returns and characteristics of the Morgan Stanley Technology Index (ticker: MSH). Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower cost.

Ordinary brokerage commissions may apply.

  Market Price
  As of 11/26/2008
  Closing Price $32.85  
  Bid/Ask $33.16  
  Premium/Discount 4.46%  
  Day High $32.85  
  Day Low $30.85  
  Exchange Volume (shares) 3,908  
  Premium Discount to Nav Chart
  Net Asset Value
  As of 11/26/2008
  Price $33.21  
  Shares Outstanding 4,100,106  
  Total Net Assets $136,158,250.14  
  Most Recent NAV / NAV History
  Performance  
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

  Fund Before Taxes      Fund After Taxes
Month End Performance
Total Return * Index Market Value NAV
  As of 10/31/2008 As of 10/31/2008 As of 10/31/2008
QTD -20.73%   -20.56%   -20.73%  
YTD -39.28%   -40.02%   -39.26%  
Annualized      
1 Year -44.59%   -45.09%   -44.62%  
3 Year -8.49%   -9.08%   -8.80%  
5 Year -3.18%   -3.72%   -3.57%  
Since Inception -10.68%   -11.18%   -11.08%  
Quarter End Performance
Total Return Index Market Value NAV
  As of 09/30/2008 As of 09/30/2008 As of 09/30/2008
QTD -14.41%   -15.13%   -14.19%  
YTD -23.40%   -24.50%   -23.37%  
Annualized      
1 Year -28.51%   -29.34%   -28.57%  
3 Year -1.58%   -2.28%   -1.92%  
5 Year 3.41%   2.72%   2.98%  
Since Inception -8.18%   -8.70%   -8.58%  
Fund Inception Date: 09/25/2000
Top Holdings ‡
As of 11/26/2008
Security Name Shares
Held
Fund
Weight
Automatic Data Processing I 165,222 4.88%
Qualcomm Inc 185,909 4.57%
Accenture Ltd Bermuda 195,517 4.39%
International Business Mach 66,944 4.02%
Oracle Corp 326,897 3.88%
Intuit 234,454 3.86%
Sap Aktiengesellschaft 144,542 3.79%
Hewlett Packard Co 142,767 3.69%
Ericsson L M Tel Co 637,776 3.33%
Broadcom Corp 280,744 3.30%
View/Download All Holdings
  Top Sectors
  As of 11/26/2008
        View/Download All Holdings  
  Fund Characteristics
  As of 11/26/2008
  Dividend Yield 0.50%  
  FY1 P/E Ratio 12.22  
  Number of Holdings 37  
  Price/Book Ratio 2.03  
  Weighted Average Market Cap $M $39,104.93  
  Fund Information
  As of 12/01/2008
  Ticker Symbol MTK  
  CUSIP 78464A102  
  Marginable Yes  
  Short Selling Allowed Yes  
  Gross Expense Ratio 0.50%  
  Inception Date 09/25/2000  
  Primary Benchmark Morgan Stanley Technology Index  
  Investment Manager SSgA Funds Management, Inc.  
  Management Team ETF Management Team  
  Distributor State Street Global Markets, LLC  
  Distribution Frequency Quarterly  
  Fund Documents
  Quarterly Fund Fact Sheet (.pdf)
  Fund Prospectus (.pdf)
  Statement of Additional Information (.pdf)
  Fund Semi-Annual Report (.pdf)
  Fund Annual Report (.pdf)
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‡ Subject to Change

†Prior to January 8, 2007 the Morgan Stanley Technology ETF was known as the streetTRACKS® Morgan Stanley Technology ETF.

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

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

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

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

Funds investing in a single sector may be subject to more volatility than funds investing in a diverse group of sectors.

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

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETFs may be bought and sold on the excha