Edgar Filing: SPDR GOLD TRUST

SPDR ETF Trading Report July 2017

Filed Pursuant To Rule 433

Registration No. 333-217785

August 18, 2017

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INVESTMENT PROFESSIONAL USE ONLY SPDR® ETF Trading Report July 2017 Consolidated Consolidated Avg. Avg. Avg. Quote Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017 US Core SPY SPDR S&P 500® ETF 0.01 0.00 0.01 53,148,614 13,024,467,716 64,539,464 15,933 15,648 3,904,382 3,789,946 258 0.20 152,044,724 MDY SPDR S&P MidCap 400® ETF 0.08 0.02 0.07 1,103,296 354,088,881 1,216,335 1,480 1,471 474,991 466,792 122 0.50 2,210,629 SLY SPDR S&P 600 Small Cap ETF 0.26 0.21 0.36 19,601 2,430,529 21,732 1,091 1,823 135,284 223,682 125 0.60 20,140 DIA SPDR Dow Jones Industrial Average ETF Trust 0.02 0.01 0.02 1,949,849 420,605,154 2,376,068 1,635 1,709 352,686 362,616 124 0.30 6,945,886 THRK SPDR Russell 3000 ETF 0.66 0.36 0.69 8,961 1,646,378 6,746 1,985 2,402 364,684 435,795 97 0.30 3,154 TWOK SPDR Russell 2000® ETF 0.24 0.29 0.23 16,089 1,354,296 17,533 6,261 6,656 527,051 553,446 330 0.50 13,171 ONEK SPDR Russell 1000 ETF 0.56 0.48 0.44 3,607 414,278 6,513 3,388 3,120 389,112 354,931 94 0.30 17,615 SMD SPDR S&P 1000 ETF 0.73 0.78 0.72 2,797 260,660 4,422 1,988 1,900 185,242 175,446 273 0.50 1,750 SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.14 0.24 0.19 9,425 561,256 7,464 1,130 1,647 67,292 97,354 167 0.30 14,690 SHE SPDR SSGA Gender Diversity Index ETF 0.06 0.09 0.06 3,713 251,829 7,401 7,852 8,012 532,601 534,080 155 0.30 5,709 US Style SPYG SPDR S&P 500 Growth ETF 0.18 0.15 0.21 28,368 3,420,828 31,263 2,222 2,599 267,951 309,437 92 0.30 24,405 SPYV SPDR S&P 500 Value ETF 0.29 0.26 0.26 7,306 833,631 18,489 2,026 2,849 231,167 322,963 129 0.30 20,554 MDYG SPDR S&P 400 Mid Cap Growth ETF 0.37 0.25 0.37 16,772 2,427,889 17,318 1,868 2,758 270,412 395,497 72 0.50 19,603 MDYV SPDR S&P 400 Mid Cap Value ETF 0.26 0.26 0.27 13,142 1,277,069 15,042 3,777 5,901 367,011 566,437 87 0.60 5,168 SLYG SPDR S&P 600 Small Cap Growth ETF 0.67 0.31 0.62 16,180 3,532,375 22,596 2,436 2,522 531,828 542,634 60 0.60 19,295 SLYV SPDR S&P 600 Small Cap Value ETF 0.29 0.24 0.30 36,729 4,404,234 41,450 1,915 2,026 229,628 240,446 86 0.60 39,977 US Sector XLY Consumer Discretionary Select Sector SPDR Fund 0.01 0.01 0.01 3,522,673 318,821,506 4,221,957 7,578 8,236 685,885 743,464 160 0.40 11,015,392 XLP Consumer Staples Select Sector SPDR Fund 0.01 0.02 0.01 9,493,506 520,776,326 9,895,507 66,880 67,630 3,669,037 3,762,257 440 0.30 44,151,370 Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results. STATE STREET GLOBAL ADVISORS SPDR

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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
US Sector (cont’d)
XLE Energy Select Sector SPDR Fund 0.01 0.02 0.01 15,581,884 1,018,770,114 16,578,563 17,409 17,064 1,138,200 1,125,712 227 0.70 34,278,259
XLF Financial Select Sector SPDR Fund 0.01 0.04 0.01 55,613,514 1,387,995,372 67,384,888 926,720 898,816 23,130,931 21,697,418 1,354 0.50 81,805,326
XLV Health Care Select Sector SPDR Fund 0.01 0.01 0.01 6,739,543 538,464,291 6,958,386 14,594 16,218 1,166,061 1,265,653 267 0.40 18,224,241
XLI Industrial Select Sector SPDR Fund 0.01 0.01 0.01 7,046,804 484,320,977 8,675,276 22,062 26,337 1,516,321 1,783,542 302 0.30 29,343,000
XLB Materials Select Sector SPDR Fund 0.01 0.02 0.01 3,530,664 193,812,806 4,059,197 19,898 23,009 1,092,201 1,237,884 224 0.50 13,501,047
XLK Technology Select Sector SPDR Fund 0.01 0.02 0.01 10,334,946 582,906,850 11,704,654 53,903 63,279 3,040,129 3,539,194 379 0.50 29,039,719
XLU Utilities Select Sector SPDR Fund 0.01 0.02 0.01 10,792,366 563,162,252 10,954,556 31,076 29,014 1,621,546 1,528,167 326 0.40 53,537,439
XLRE Real Estate Select Sector SPDR Fund 0.01 0.03 0.01 1,804,366 58,128,751 2,037,303 44,173 39,726 1,423,254 1,275,999 437 0.50 3,750,955
US Industry
KBE SPDR S&P Bank ETF 0.02 0.04 0.01 2,170,154 95,153,470 2,261,365 4,326 4,417 189,695 189,931 187 0.60 4,051,054
KCE SPDR S&P Capital Markets ETF 0.11 0.23 0.12 13,355 674,097 7,643 3,127 3,888 157,851 191,173 126 0.60 29,448
KIE SPDR S&P Insurance ETF 0.06 0.07 0.05 72,735 6,526,027 134,588 1,749 1,395 156,920 121,226 131 0.50 198,485
KRE SPDR S&P Regional Banking ETF 0.02 0.03 0.01 4,463,896 245,894,862 6,504,525 3,100 3,996 170,779 215,904 176 0.70 15,749,685
XBI SPDR S&P Biotech ETF 0.05 0.06 0.04 3,966,562 314,222,445 4,229,676 1,137 1,300 90,073 96,941 136 1.10 27,829,292
MTK SPDR Morgan Stanley Technology ETF 0.14 0.19 0.12 21,400 1,610,480 23,179 898 1,559 67,583 114,867 119 0.60 19,589
XHB SPDR S&P Homebuilders ETF 0.01 0.03 0.01 1,372,210 52,860,102 1,287,507 12,022 11,958 463,087 457,035 206 0.50 7,905,818
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors

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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
US Industry (cont’d)
XME SPDR S&P Metals & Mining ETF 0.01 0.04 0.01 3,093,978 96,597,540 3,127,538 4,729 5,802 147,639 172,668 191 1.10 8,603,172
XES SPDR S&P Oil & Gas Equipment & Services ETF 0.02 0.15 0.02 512,841 7,996,839 602,334 8,215 7,398 128,072 118,886 217 2.00 1,032,121
XITK SPDR FactSet Innovative Technology ETF 0.11 0.16 0.13 1,417 102,047 2,962 459 449 33,310 31,201 153 0.60 3,130
XOP SPDR S&P Oil & Gas Exploration & Production ETF 0.01 0.03 0.01 16,424,791 523,999,311 18,675,004 12,686 12,772 404,683 417,644 241 1.30 56,903,936
XPH SPDR S&P Pharmaceuticals ETF 0.04 0.10 0.04 53,717 2,341,260 73,292 2,105 2,189 91,736 93,208 142 0.50 1,029,468
XRT SPDR S&P Retail ETF 0.01 0.03 0.01 4,413,657 177,297,632 4,253,329 6,148 6,170 246,965 252,045 192 1.00 17,379,541
XSD SPDR S&P Semiconductor ETF 0.05 0.07 0.05 72,081 4,644,323 101,693 1,443 1,616 92,972 101,679 165 0.90 328,417
XHE SPDR S&P Health Care Equipment ETF 0.19 0.32 0.20 16,843 1,037,793 20,397 1,977 2,531 121,803 150,063 102 0.80 33,798
XTL SPDR S&P Telecom ETF 0.29 0.40 0.30 13,861 981,003 12,238 2,216 2,922 156,848 207,696 100 0.50 2,600
XAR SPDR S&P Aerospace & Defense ETF 0.06 0.09 0.06 91,129 6,624,130 94,485 1,725 1,841 125,390 129,312 104 0.60 2,264,827
XHS SPDR S&P Health Care Services ETF 0.12 0.18 0.13 11,439 717,247 11,734 1,399 1,275 87,717 78,770 145 0.80 17,066
XSW SPDR S&P Software & Services ETF 0.14 0.22 0.14 1,977 125,317 3,893 1,896 2,082 120,168 128,709 84 0.50 4,840
XTH SPDR S&P Technology Hardware ETF 0.32 0.43 0.32 293 17,755 311 4,398 4,533 328,091 334,263 43 1.30 9,722
XTN SPDR S&P Transportation ETF 0.06 0.11 0.06 22,301 1,250,528 22,131 2,410 2,506 135,153 135,274 107 0.90 22,263
XWEB SPDR S&P Internet ETF 0.32 0.45 0.27 375 24,576 221 4,297 4,198 300,661 287,479 4 1.10 1,018
Real Estate Equities
RWR SPDR Dow Jones REIT ETF 0.05 0.05 0.05 131,988 12,263,382 168,835 1,493 1,552 138,715 143,839 101 0.60 112,982
RWO SPDR Dow Jones Global Real Estate ETF 0.05 0.10 0.06 192,643 9,204,327 180,747 1,265 1,339 60,442 64,071 176 0.40 161,970
RWX SPDR Dow Jones International Real Estate ETF 0.01 0.04 0.01 527,081 20,199,084 511,005 5,083 6,620 194,781 255,995 312 0.40 1,147,627
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors

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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
Global Equities
DGT SPDR Global Dow ETF 0.40 0.52 0.35 1,889 144,801 1,252 436 412 33,895 31,827 81 0.40 2,932
GII SPDR S&P Global Infrastructure ETF 0.16 0.32 0.23 18,775 951,060 18,708 1,355 1,238 68,631 62,655 240 0.40 17,407
GNR SPDR S&P Global Natural Resources ETF 0.07 0.15 0.07 113,647 4,868,398 124,308 1,398 1,301 59,890 54,655 249 0.50 20,230
CWI SPDR MSCI ACWI ex-US ETF 0.03 0.07 0.02 310,557 11,283,635 323,457 5,767 8,140 209,515 293,121 287 0.40 27,220
ACIM SPDR MSCI ACWI IMI ETF 0.30 0.41 0.23 5,937 432,363 4,709 319 359 23,233 25,834 67 0.30 1,503
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.42 0.60 0.54 2,017 131,767 1,313 459 477 31,845 33,056 134 0.50 3,568
GWL SPDR S&P World ex-US ETF 0.04 0.12 0.03 126,666 3,748,658 176,113 9,675 10,007 286,283 291,204 451 0.30 114,959
GWX SPDR S&P International Small Cap ETF 0.07 0.20 0.06 54,852 1,842,253 75,743 1,338 1,090 44,943 35,981 201 0.30 63,577
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.12 0.15 0.12 1,093 91,622 940 1,000 976 83,990 81,272 98 0.30 529
International Developed Equities - Region/Country
FEZ SPDR EURO STOXX 50 ETF 0.01 0.03 0.01 2,107,002 82,467,142 3,434,464 69,545 75,674 2,721,991 2,964,907 356 0.40 5,952,761
FEU SPDR STOXX Europe 50 ETF 0.04 0.13 0.04 38,240 1,309,558 82,333 1,296 1,412 44,388 48,220 207 0.40 51,299
SMEZ SPDR EURO STOXX Small Cap ETF 0.12 0.20 0.12 3,204 186,517 2,535 992 970 57,754 55,756 161 0.40 4,768
Emerging Market Equities
GMM SPDR S&P Emerging Markets ETF 0.18 0.26 0.19 71,035 4,853,383 39,002 997 851 68,115 57,391 132 0.50 31,956
GMF SPDR S&P Emerging Asia Pacific ETF 0.17 0.18 0.19 16,817 1,588,951 20,495 775 665 73,230 60,695 52 0.60 160,605
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free
EEMX ETF 0.68 1.06 1.07 1,121 67,462 2,012 478 405 30,649 25,142 69 0.70 3,827
EWX SPDR S&P Emerging Markets Small Cap ETF 0.07 0.15 0.07 69,352 3,310,213 62,210 1,105 882 52,742 41,313 187 0.50 131,505
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors
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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
Emerging Market Equities (cont’d)
GXC SPDR S&P China ETF 0.12 0.12 0.11 67,788 6,345,228 65,546 504 549 47,174 49,015 95 0.70 87,349
XINA SPDR MSCI China A Shares IMI ETF 0.26 1.17 0.30 78 997 111 165 243 3,701 5,120 3 1.30 0
International Sector Equities
Advanced Beta - Income
EDIV SPDR S&P Emerging Markets Dividend ETF 0.06 0.19 0.06 50,298 1,548,949 51,561 823 613 25,348 18,445 187 0.50 33,016
DWX SPDR S&P International Dividend ETF 0.06 0.15 0.05 119,880 4,741,986 158,942 1,838 1,742 72,711 68,652 204 0.40 103,989
SDY SPDR S&P Dividend ETF 0.03 0.03 0.02 333,115 29,793,609 506,275 2,193 2,850 196,142 252,966 177 0.40 518,683
WDIV SPDR S&P Global Dividend ETF 0.08 0.13 0.08 13,144 877,510 14,212 705 604 47,066 40,245 131 0.30 6,915
SPYD SPDR S&P 500 High Dividend ETF 0.05 0.15 0.06 45,916 1,623,023 44,232 5,105 6,155 180,462 216,779 159 0.40 15,517
Advanced Beta - Multi Factor
QCAN SPDR MSCI Canada StrategicFactors ETF 0.06 0.10 0.06 830 45,462 1,102 837 909 47,726 50,068 115 0.60 1,358
QDEU SPDR MSCI Germany StrategicFactors ETF 0.06 0.09 0.06 800 45,380 1,203 981 976 58,703 58,462 115 0.40 6,428
QJPN SPDR MSCI Japan StrategicFactors ETF 0.24 0.34 0.26 1,633 115,341 1,168 449 496 32,180 35,742 156 0.40 1,291
QGBR SPDR MSCI United Kingdom StrategicFactors ETF 0.17 0.34 0.17 714 34,543 1,324 1,002 924 51,282 47,965 71 0.50 1,270
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.39 0.64 0.38 19,388 1,195,911 14,957 1,175 967 72,474 59,441 139 0.40 11,583
QWLD SPDR MSCI World StrategicFactors ETF 0.77 1.11 0.70 4,452 303,492 1,658 577 594 40,286 41,461 390 0.70 10
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.26 0.43 0.36 9,888 590,462 6,684 988 972 58,993 57,056 182 0.50 49,558
QUS SPDR MSCI USA StrategicFactors ETF 0.21 0.30 0.15 16,487 1,161,971 8,051 365 371 25,743 26,111 114 0.30 18,114
Advanced Beta - Single Factor
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors
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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
Advanced Beta - Single Factor (cont’d)
SPYB SPDR S&P 500 Buyback ETF 0.11 0.19 0.13 309 15,394 652 3,563 4,900 200,205 271,460 27 1.70 13,354
VLU SPDR S&P 1500 Value Tilt ETF 0.72 0.77 0.61 159 11,835 432 705 697 65,438 64,138 5 0.40 2,747
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.43 0.41 0.55 340 33,253 1,526 683 1,063 71,141 108,787 22 0.50 816
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF 0.43 0.50 0.46 1,953 170,104 4,891 573 756 49,903 64,729 71 0.30 13,957
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.40 0.43 0.36 7,028 648,836 8,161 2,982 2,526 275,298 231,205 61 0.50 688
ONEY SPDR Russell 1000 Yield Focus ETF 0.30 0.42 0.37 814 46,443 942 3,530 3,682 246,924 255,604 14 0.50 57
ONEO SPDR Russell 1000 Momentum Focus ETF 0.41 0.58 0.40 3,666 256,137 3,464 957 1,586 66,856 109,957 152 0.30 21,121
ONEV SPDR Russell 1000 Low Volatility Focus ETF 0.33 0.47 0.35 13,206 933,981 5,229 1,015 1,597 72,461 113,547 215 0.30 50,154
Advanced Beta - Fixed Income
SPDR Bloomberg Barclays Issuer Scored Corporate Bond
CBND ETF 0.16 0.48 0.20 4,448 142,083 7,494 480 549 15,422 17,733 105 0.30 479
Fixed Income - US Government
BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 0.01 0.02 0.01 476,264 21,776,760 567,896 1,796,416 1,776,526 82,132,140 81,222,769 657 0.00 483,344
ITE SPDR Bloomberg Barclays Intermediate Term Treasury ETF 0.05 0.09 0.05 167,812 10,096,586 73,390 10,512 8,730 632,507 525,197 350 0.10 11,880
TLO SPDR Bloomberg Barclays Long Term Treasury ETF 0.11 0.16 0.10 50,912 3,637,830 61,241 2,325 1,640 166,121 116,899 248 0.40 24,517
IPE SPDR Bloomberg Barclays TIPS ETF 0.05 0.09 0.07 38,332 2,147,529 42,717 3,770 3,499 211,195 197,134 276 0.20 62,690
SST SPDR Bloomberg Barclays Short Term Treasury ETF 0.05 0.16 0.05 14,823 447,126 25,126 7,836 5,959 236,334 179,723 238 0.10 3,967
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF 0.05 0.26 0.08 16,897 328,276 18,741 1,477 1,340 28,698 26,090 459 0.20 75,135
Fixed Income - US Investment Grade Corporates
SCPB SPDR Bloomberg Barclays Short Term Corporate Bond ETF 0.01 0.03 0.01 548,976 16,833,835 383,277 22,962 23,464 704,015 718,937 325 0.00 77,561
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors
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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
Fixed Income - US Investment Grade Corporates (cont’d)
SPDR Bloomberg Barclays Intermediate Term Corporate
ITR Bond ETF 0.02 0.05 0.02 384,429 13,247,791 397,072 10,812 8,855 372,582 304,878 292 0.10 414,508
LWC SPDR Bloomberg Barclays Long Term Corporate Bond ET 0.13 0.31 0.14 28,183 1,173,170 27,065 8,372 4,121 348,526 170,733 227 0.40 11,109
SPDR Bloomberg Barclays Investment Grade Floating Rate
FLRN ETF 0.01 0.05 0.01 214,975 6,604,360 197,613 11,281 12,810 346,552 393,395 263 0.00 20,259
Fixed Income - High Yield
JNK SPDR Bloomberg Barclays High Yield Bond ETF 0.01 0.03 0.01 9,695,320 359,899,337 9,210,873 112,362 101,392 4,170,877 3,763,671 542 0.20 42,315,485
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF 0.01 0.04 0.01 1,169,049 32,639,060 1,529,604 45,752 50,946 1,277,396 1,424,960 402 0.10 2,020,389
CJNK SPDR BofA Merrill Lynch Crossover Corporate Bond ETF 0.15 0.58 0.21 8,162 215,718 5,116 571 559 15,092 14,819 409 0.30 5,767
Fixed Income - US Mortgage
MBG SPDR Bloomberg Barclays Mortgage Backed Bond ETF 0.07 0.26 0.07 44,594 1,167,070 32,861 3,426 2,973 89,658 78,160 130 0.20 4,223
Fixed Income - US Aggregate
BNDS SPDR Bloomberg Barclays Aggregate Bond ETF 0.06 0.10 0.07 50,278 2,893,611 54,239 2,122 4,262 122,121 245,150 243 0.20 22,016
Fixed Income - Hybrids
CWB SPDR Bloomberg Barclays Convertible Securities ETF 0.02 0.03 0.02 1,407,235 70,768,068 920,401 2,292 1,845 115,265 91,899 150 0.40 1,895,118
PSK SPDR Wells Fargo Preferred Stock ETF 0.06 0.12 0.06 40,325 1,820,412 47,408 12,723 9,691 574,316 436,483 187 0.10 21,203
Fixed Income - Municipal
SPDR Nuveen Bloomberg Barclays Short Term Municipal
SHM Bond ETF 0.01 0.03 0.01 253,272 12,308,675 263,964 10,552 10,038 512,827 488,248 276 0.00 190,399
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF 0.02 0.05 0.02 196,598 9,593,059 263,727 3,271 4,108 159,625 200,101 162 0.10 200,935
HYMB SPDR Nuveen S&P High Yield Municipal Bond ETF 0.12 0.21 0.13 94,517 5,382,005 74,331 603 671 34,335 38,267 259 0.20 27,728
Fixed Income - International
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors
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SPDR® ETF Trading Report
Consolidated Consolidated Avg. Avg. Avg. Quote
Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short
Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as
Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 7/15/2017
Fixed Income - International (cont’d)
SPDR Citi International Government Inflation-Protected
WIP Bond ETF 0.14 0.24 0.19 24,197 1,352,061 40,987 854 851 47,722 47,367 129 0.30 7,854
SPDR Bloomberg Barclays Short Term International
BWZ Treasury Bond ETF 0.17 0.55 0.16 26,664 839,722 23,959 920 1,081 28,971 33,641 221 0.30 119,856
BWX SPDR Bloomberg Barclays International Treasury Bond ETF 0.04 0.14 0.04 476,010 13,163,712 452,926 1,186 1,175 32,793 32,289 162 0.30 824,005
SPDR Bloomberg Barclays International Corporate Bond
IBND ETF 0.11 0.32 0.11 62,024 2,075,270 46,593 979 1,001 32,757 33,073 189 0.40 20,139
SPDR Bloomberg Barclays Emerging Markets Local Bond
EBND ETF 0.10 0.33 0.12 25,420 741,336 22,874 4,696 2,383 136,935 68,916 225 0.30 10,035
Commodity
GLD® SPDR Gold Trust® 0.01 0.01 0.01 6,425,632 755,748,274 7,022,770 13,261 12,902 1,559,626 1,533,661 209 0.40 7,882,187
NANR SPDR S&P North American Natural Resources ETF 0.05 0.15 0.05 40,316 1,268,064 57,518 1,690 2,926 53,151 92,374 293 0.70 18,423
Active - Asset Allocation
RLY SPDR SSgA Multi-Asset Real Return ETF 0.10 0.40 0.11 27,029 657,221 19,687 7,160 7,781 174,131 188,767 134 0.40 9,043
INKM SPDR SSgA Income Allocation ETF 0.08 0.24 0.10 5,608 180,636 5,283 9,147 9,824 297,918 319,280 398 0.20 650
GAL SPDR SSgA Global Allocation ETF 0.08 0.22 0.08 12,559 451,217 16,034 9,480 9,000 340,616 320,760 170 0.30 8,685
DWFI SPDR Dorsey Wright Fixed Income Allocation ETF 0.07 0.26 0.05 19,700 506,032 23,251 17 25 43,584 62,944 305 0.47 20,618
Active - Equity
SYE SPDR MFS Systematic Core Equity ETF 0.17 0.25 0.17 5,861 406,087 2,115 1,356 1,306 94,378 90,676 217 0.30 195
SYG SPDR MFS Systematic Growth Equity ETF 0.26 0.36 0.23 3,671 263,768 16,691 1,046 835 75,511 59,168 265 0.40 8,924
SYV SPDR MFS Systematic Value Equity ETF 0.16 0.27 0.16 157 7,080 264 1,434 1,049 86,628 61,146 6 0.70 120
Active - Fixed Income
TOTL SPDR DoubleLine Total Return Tactical ETF 0.03 0.06 0.03 268,697 13,209,986 282,378 3,850 3,806 189,266 187,331 263 0.10 117,132
Source: NYSE, Nasdaq and BATS as of 7/31/2017.Past performance is not a guarantee of future results.
State Street Global Advisors
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SPDR® ETF Trading Report
ssga.com | spdrs.com
State Street Global Advisors One Lincoln Street, Boston, MA 02111-2900. T: +1 617 786 3000.
Important Risk Information
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs’ net asset value. Brokerage commissions and ETF expenses will reduce returns.
While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.
Commodities and commodity-index linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as trading activity of speculators and arbitrageurs in the underlying commodities. Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.
Diversification does not ensure a profit or guarantee against loss.
Investing in commodities entails significant risk and is not appropriate for all investors. Important Information Relating to SPDR Gold Trust (“GLD®”):
The SPDR Gold Trust (“GLD”) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents GLD has filed with the SEC for more complete information about GLD and this offering. Please see the GLD prospectus for a detailed discussion of the risks of investing in GLD shares. When distributed electronically, the GLD prospectus is available by clicking here. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus if you request it by calling 866.320.4053.
GLD is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and is not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders of the Trust do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.
GLD shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value of GLD shares relates directly to the value of the gold held by GLD (less its expenses), and fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLD does not generate any income, and as GLD regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Share will decline over time to that extent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto.
For more information, please contact the Marketing Agent for GLD: State Street Global Advisors Funds Distributors, LLC, One Lincoln Street, Boston, MA, 02111; T: +1 866 320 4053 spdrgoldshares.com
The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data.
State Street Global Advisors and SSGA are registered trademarks of State Street Corporation.
There is no relationship between Dorsey Wright & Associates, LLC (collectively with its parent companies and affiliates, “Dorsey Wright”) and State Street Global Advisors (“SSGA”) other than a license by Dorsey Wright to SSGA of certain Dorsey Wright trademarks and trade names, and the Dorsey Wright Fixed Income Rotation Index (“Index”), for use by SSGA.
BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licensed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, and all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc. is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State State Street Global Advisors Funds Distributors, LLC.
State Street Global Advisors Funds Distributors, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained Nuveen Asset Management, LLC as the sub-advisor to certain of such funds. State Street Global Advisors Funds Distributors, LLC is not affiliated with Nuveen Asset Management, LLC
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
State Street Global Advisors © 2017 State Street Corporation. All Rights Reserved.
IBG-24674 Exp. Date: 8/31/2018 SPD001406

SPDR® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold Shares, 30th Floor, Boston, MA 02111.