SPDR S&P Biotech ETF (the Fund) seeks to replicate as closely as possible the performance of the S&P Biotechnology Select Sector Index (the Index). The Index seeks to provide an effective representation of the biotechnology sub-industry portion of the S&P Total Market Index. The S&P Total Market Index tracks all the United States common stocks regularly traded on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap Exchanges. The Index is an equal-weighted market cap index. The Fund utilizes an indexing approach and attempts to approximate the investment performance of the Index, by investing in a portfolio of stocks intended to replicate the Index. The Fund’s investment advisor is SSgA Funds Management, Inc.