The SPDR Biotech ETF seeks to replicate as closely as possible, before expenses, the performance of an index derived from the biotechnology segment of a U.S. total market composite index. The Fund uses a passive management strategy designed to track the total return performance of the S&P Biotechnology Select Industry Index (the "Biotech Index" or the "Index"). The Biotech Index represents the biotechnology sub-industry portion of the S&P Total Market Index (the "S&P TMI"). The S&P TMI tracks all the U.S. common stocks regularly traded on the NYSE, American Stock Exchange, NASDAQ National Market and NASDAQ Small Cap exchanges (except Berkshire Hathaway). The Biotech Index is an equal weighted market cap index.
* Trading Characteristics Definitions Spread : The average dollar difference between the best bid and best offer across all exchanges for the specified time period, weighted by volume. *Spread : Is the monthly average of the daily spread. % Spread : The average spread amount divided by the average bid-ask midpoint, weighted by volume. Share Volume : Composite Volume - total number of shares traded on all exchanges and Nasdaq. Dollar Volume : Dollar amount of shares traded on each exchange for the specified symbol, based on the stocks average price for the time period specified.
