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SPDR S&P Biotech ETF (XBI)
Fund Objective Why was this benchmark selected?

The SPDR® S&P® Biotech ETF, before expenses, seeks to closely match the returns and characteristics of the S&P Biotechnology Select IndustryTM Index (ticker: SPSIBITR). Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs. 

Ordinary brokerage commissions may apply.

  Market Price
  As of 11/26/2008
  Closing Price $48.91  
  Bid/Ask $48.62  
  Premium/Discount 2.12%  
  Day High $48.91  
  Day Low $46.76  
  Exchange Volume (shares) 34,589  
  Premium Discount to Nav Chart
  Net Asset Value
  As of 11/26/2008
  Price $48.86  
  Shares Outstanding 8,800,000  
  Total Net Assets $429,988,121.26  
  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 -11.82%   -11.86%   -11.82%  
YTD -8.81%   -9.10%   -8.94%  
Annualized      
1 Year -10.49%   -10.72%   -10.67%  
3 Year N/A   N/A   N/A  
5 Year N/A   N/A   N/A  
Since Inception 3.61%   3.23%   3.26%  
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 5.61%   5.55%   5.53%  
YTD 3.42%   3.13%   3.26%  
Annualized      
1 Year 6.01%   5.74%   5.74%  
3 Year N/A   N/A   N/A  
5 Year N/A   N/A   N/A  
Since Inception 8.74%   8.34%   8.36%  
Fund Inception Date: 01/31/2006
Top Holdings ‡
As of 11/26/2008
Security Name Capitalization
($Million)
Shares
Held
Fund
Weight
Genentech Inc 79,218 290,970 5.10%
Amgen Inc 59,227 447,669 5.82%
Gilead Sciences Inc 41,018 577,849 6.05%
Celgene Corp 24,275 395,054 4.87%
Genzyme Corp 17,505 332,753 5.01%
Biogen Idec Inc 12,254 537,068 5.25%
Cephalon Inc 4,850 351,489 5.79%
Vertex Pharmaceuticals Inc 3,712 917,886 5.27%
Myriad Genetics Inc 2,827 412,089 5.83%
Alexion Pharmaceuticals Inc 2,646 643,087 5.08%
View/Download All Holdings
  Top Sectors
  As of 11/26/2008
        View/Download All Holdings  
  Fund Characteristics
  As of 11/26/2008
  Dividend Yield 2.83%  
  FY1 P/E Ratio 21.46  
  Number of Holdings 23  
  Price/Book Ratio 4.06  
  Weighted Average Market Cap $M $14,037.22  
  Fund Information
  As of 12/01/2008
  Ticker Symbol XBI  
  CUSIP 78464A870  
  Marginable Yes  
  Short Selling Allowed Yes  
  Gross Expense Ratio 0.35%  
  Inception Date 01/31/2006  
  Primary Benchmark S&P Biotech Select Industry 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

§Performance numbers for funds less than 1 year old are cumulative. Performance periods under 1 year reflect performance for the fund and benchmark(s) from the fund's inception date to the month end shown above.

†Prior to January 8, 2007 the SPDR® S&P® Biotech ETF was known as the SPDR® Biotech 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 t