SPDR KBW Regional Banking ETF (the Fund) seeks to replicate as closely as possible the performance of the KBW Regional Banking Index (the Index). The Index is an equal weighted index that seeks to reflect the performance of publicly traded companies that do business as regional banks or thrifts. The Index components are selected to provide appropriate representation of the industry’s sub-sectors. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Fund invests in industries, such as regional banks, thrifts and mortgage finance. The Fund’s investment advisor is SSgA Funds Management, Inc.