LVLN

The State Street SPDR S&P Leveraged Loan ETF (LVLN) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the S&P USD Select Leveraged Loan Index. In seeking to track the performance of the S&P USD Select Leveraged Loan Index (the "Index"), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. Under normal market conditions, the Fund will invest at least 80% of its net assets in the securities comprising the index it seeks to track the Fund may also invest in cash and cash equivalents or money market instruments for cash management purposes. In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries.