OIL & GAS PRODUCERS
The SPDR S&P Oil & Gas Exploration & Production ETF, formerly streetTRACKS SPDR Oil & Gas Exploration & Production ETF, is an exchange-traded index fund that is a separate portfolio of streetTRACKS(R) Series Trust, a Trust that is an "index fund" consisting of separate investment portfolios. The streetTRACKS SPDR Oil & Gas Exploration & Production ETF's investment objective is to replicate as closely as possible, before expenses, the performance of the S&P Oil & Gas Exploration & Production Select Industry Index (ticker: SPSIOP). INDEX DESCRIPTION: The S&P Oil & Gas Exploration & Production Select Industry Index represents the oil & gas exploration and production sub-industry portion of the S&P Total Market Index (TMI). The S&P TMI tracks all the U.S. common stocks listed on the NYSE, American Stock Exchange, NASDAQ National Market and the NASDAQ Small Cap exchanges. The Index is designed to measure the performance of the narrow oil & gas exploration and production sub-industry determined based on the Global Industry Classification Standards (GICS). Membership in the Select Industry Index is based on the GICS classification, as well as liquidity and market cap requirements. Companies in the Index are classified based primarily on revenues; however, earnings and market perception are also considered. The Index is an equal weighted market cap index. At the IPO of the ETF, the Oil & Gas Exploration Index was comprised of 45 stocks. FUND STRATEGY: The Fund uses a passive management strategy designed to track the total return performance of the S&P Metals & Mining Select Industry Index. The Fund, using an "indexing" investment approach, attempts to replicate, before expenses, the total return performance of the index. The Adviser seeks a correlation of 0.95 or better between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Fund generally will invest in all of the stocks comprising the index in proportion to the weightings in the index. However, under various circumstances, it may not be possible or practicable to purchase all of the stocks in the index in those weightings. In those circumstances, the Fund may purchase a sample of the stocks in the index in proportions expected by the Adviser to replicate generally the performance of the index as a whole. There may also be instances in which the Adviser may choose to overweight another stock in an index, purchase (or sell) securities not in the relevant index which the Adviser believes are appropriate to substitute for one or more index components, or utilize various combinations of other available investment techniques, in seeking to track accurately the index. In addition, from time to time stocks are added to or removed from the index. The Fund may sell stocks that are represented in the index, or purchase stocks that are not yet represented in the index, in anticipation of their removal from or addition to the index. FUND MANAGEMENT: The investment advisor of the Fund is SSgA Funds Management, Inc. The administrator and custodian of the streetTRACKS funds is State Street Bank and Trust Co. State Street Global Markets, LLC serves as the distributor for the Fund.
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