Edgar Filing: SPDR GOLD TRUST

SPDR ETF TRADING REPORT DECEMBER 2017

Filed Pursuant To Rule 433

Registration No. 333-217785

January 29, 2018

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INVESTMENT PROFESSIONAL USE ONLY SPDR® ETF Trading Report December 2017 Consolidated Consolidated Avg. Avg. Avg. Quote Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Short Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility Interest as Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) of 12/15/2017 US Core SPY SPDR S&P 500® ETF 0.01 0.00 0.01 62,354,756 16,176,000,162 64,179,588 12,727 14,133 3,301,638 3,598,686 237 0.30 163,961,041 MDY SPDR S&P MidCap 400® ETF 0.07 0.02 0.06 807,931 271,503,221 861,618 2,037 2,148 684,534 706,692 121 0.40 2,114,466 SLY SPDR S&P 600 Small Cap ETF 0.32 0.24 0.30 12,816 1,680,081 15,583 1,590 1,711 208,433 221,078 88 0.50 6,210 DIA SPDR Dow Jones Industrial Average ETF Trust 0.01 0.01 0.01 2,791,490 658,628,280 2,497,553 2,101 2,116 495,710 487,061 128 0.40 6,285,533 SPTM SPDR Portfolio Total Stock Market ETF 0.02 0.06 0.17 265,576 8,558,864 131,675 6,482 3,290 208,915 183,024 203 0.30 83,423 SPSM SPDR Portfolio Small Cap ETF 0.02 0.08 0.14 390,765 11,470,468 160,655 3,254 2,606 95,505 123,723 109 0.50 30,964 SPLG SPDR Portfolio Large Cap ETF 0.01 0.04 0.11 258,279 7,849,719 111,398 4,113 1,967 124,994 87,179 190 0.30 82,141 SPMD SPDR Portfolio Mid Cap ETF 0.01 0.03 0.12 147,151 4,804,946 81,123 1,837 1,328 59,978 79,364 215 0.50 42,318 SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.10 0.16 0.10 5,351 337,375 8,524 874 1,064 55,106 65,362 147 0.30 7,043 SHE SPDR SSGA Gender Diversity Index ETF 0.06 0.08 0.06 3,912 278,634 3,812 3,002 4,988 213,832 352,103 105 0.30 17,887 US Style SPYG SPDR Portfolio S&P 500 Growth ETF 0.01 0.04 0.05 236,070 7,638,900 124,743 1,989 1,439 64,364 57,747 126 0.40 64,972 SPYV SPDR Portfolio S&P 500 Value ETF 0.01 0.04 0.06 238,991 7,148,836 102,292 2,494 2,104 74,596 69,958 142 0.30 62,356 MDYG SPDR S&P 400 Mid Cap Growth ETF 0.13 0.09 0.13 29,825 4,587,206 26,572 742 731 114,127 109,789 84 0.40 4,011 MDYV SPDR S&P 400 Mid Cap Value ETF 0.09 0.09 0.08 35,285 3,536,011 31,619 930 1,108 93,195 110,002 97 0.40 10,222 SLYG SPDR S&P 600 Small Cap Growth ETF 0.52 0.22 0.52 17,026 3,916,492 18,067 1,827 2,338 420,265 530,516 53 0.60 5,455 SLYV SPDR S&P 600 Small Cap Value ETF 0.16 0.13 0.18 53,807 6,830,188 42,918 939 1,292 119,197 162,366 81 0.60 18,775 US Sector XLY Consumer Discretionary Select Sector SPDR Fund 0.01 0.01 0.01 3,893,829 364,353,785 4,159,869 9,337 9,304 873,663 851,409 169 0.40 11,134,589 XLP Consumer Staples Select Sector SPDR Fund 0.01 0.02 0.01 8,891,757 483,321,693 10,947,110 66,905 82,281 3,636,956 4,471,150 403 0.50 33,218,799 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results.

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 US Sector (cont’d) XLE Energy Select Sector SPDR Fund 0.01 0.02 0.01 11,939,017 818,152,713 11,888,850 19,531 22,178 1,338,459 1,497,902 236 0.70 28,286,080 XLF Financial Select Sector SPDR Fund 0.01 0.04 0.01 55,525,597 1,476,554,904 55,891,565 792,732 922,757 21,078,744 23,945,544 1,422 0.50 77,108,898 XLV Health Care Select Sector SPDR Fund 0.01 0.01 0.01 5,939,468 484,859,211 6,558,563 13,171 14,754 1,075,149 1,211,156 247 0.40 21,046,345 XLI Industrial Select Sector SPDR Fund 0.01 0.01 0.01 7,485,035 537,130,552 8,568,461 20,407 27,330 1,464,406 1,940,977 314 0.50 23,105,773 XLB Materials Select Sector SPDR Fund 0.01 0.02 0.01 4,014,617 235,490,138 4,261,342 17,251 22,704 1,011,944 1,308,886 257 0.50 16,619,065 XLK Technology Select Sector SPDR Fund 0.01 0.02 0.01 9,306,545 591,998,958 8,693,479 47,352 59,083 3,012,061 3,613,516 298 0.50 30,296,060 XLU Utilities Select Sector SPDR Fund 0.01 0.02 0.01 10,444,057 583,193,576 11,814,343 24,918 30,591 1,391,421 1,673,940 326 0.50 41,822,212 XLRE Real Estate Select Sector SPDR Fund 0.01 0.03 0.01 1,689,069 56,476,065 1,733,807 50,699 52,274 1,695,375 1,718,769 494 0.40 3,379,703 US Industry KBE SPDR S&P Bank ETF 0.01 0.03 0.01 1,952,184 88,890,912 2,196,469 4,640 5,437 211,259 240,044 168 0.80 3,907,531 KCE SPDR S&P Capital Markets ETF 0.11 0.20 0.10 7,277 395,628 10,650 2,128 2,201 115,699 116,851 92 0.60 18,745 KIE SPDR S&P Insurance ETF 0.05 0.06 0.05 134,288 9,799,745 156,773 1,813 1,563 132,313 131,245 124 3.50 181,291 KRE SPDR S&P Regional Banking ETF 0.01 0.02 0.01 6,932,446 394,658,103 6,418,320 4,436 4,223 252,541 235,432 170 0.90 19,779,630 XBI SPDR S&P Biotech ETF 0.05 0.06 0.04 3,818,807 313,539,429 3,621,308 1,297 1,503 106,484 126,102 133 1.00 24,075,046 XNTK SPDR NYSE Technology ETF 0.11 0.13 0.13 20,167 1,710,496 17,797 923 1,649 78,289 132,507 77 0.70 4,272 XHB SPDR S&P Homebuilders ETF 0.01 0.03 0.01 1,695,565 70,544,184 1,637,365 7,788 10,744 324,059 433,950 202 0.70 9,479,107 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors 2

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 US Industry (cont’d) XME SPDR S&P Metals & Mining ETF 0.01 0.03 0.01 2,394,964 74,920,367 2,453,387 8,351 7,544 261,219 241,710 197 0.80 10,041,143 XES SPDR S&P Oil & Gas Equipment & Services ETF 0.02 0.10 0.02 692,242 10,948,598 648,288 11,236 10,010 177,754 157,057 352 1.40 472,606 XITK SPDR FactSet Innovative Technology ETF 0.11 0.14 0.11 1,774 142,703 1,997 378 371 30,406 29,231 211 0.70 2,689 XOP SPDR S&P Oil & Gas Exploration & Production ETF 0.01 0.03 0.01 16,018,646 566,665,196 14,532,160 11,608 13,927 410,691 469,897 242 1.50 65,687,742 XPH SPDR S&P Pharmaceuticals ETF 0.04 0.09 0.04 107,214 4,431,481 102,047 2,142 1,882 88,529 79,552 182 0.80 1,091,487 XRT SPDR S&P Retail ETF 0.01 0.03 0.01 6,580,906 272,298,822 4,866,483 7,517 7,448 311,053 305,442 194 1.10 18,965,079 XSD SPDR S&P Semiconductor ETF 0.05 0.06 0.04 139,910 10,101,551 83,682 2,193 1,864 158,335 129,865 140 1.10 646,974 XHE SPDR S&P Health Care Equipment ETF 0.20 0.31 0.22 17,128 1,113,747 14,588 1,249 2,114 81,222 135,000 102 0.60 37,737 XTL SPDR S&P Telecom ETF 0.17 0.26 0.18 12,955 868,665 9,362 1,203 1,193 80,661 81,291 123 0.80 1,249 XAR SPDR S&P Aerospace & Defense ETF 0.06 0.08 0.06 112,508 9,115,308 137,970 1,773 1,735 143,648 138,904 101 0.70 2,297,940 XHS SPDR S&P Health Care Services ETF 0.17 0.29 0.16 6,768 391,366 7,674 1,953 1,851 112,942 109,413 155 0.90 13,146 XSW SPDR S&P Software & Services ETF 0.23 0.34 0.20 3,320 228,354 3,016 3,551 3,097 244,238 209,109 115 0.60 1,739 XTH SPDR S&P Technology Hardware ETF 0.20 0.25 0.23 491 39,079 491 2,899 3,984 230,818 311,071 40 0.90 8,252 XTN SPDR S&P Transportation ETF 0.04 0.07 0.05 25,185 1,516,059 22,465 1,711 1,608 103,002 95,998 137 0.90 10,519 XWEB SPDR S&P Internet ETF 0.26 0.35 0.26 442 32,299 325 4,444 4,393 324,723 320,821 55 0.80 1,124 Real Estate Equities RWR SPDR Dow Jones REIT ETF 0.04 0.04 0.04 112,556 10,589,279 124,227 1,531 1,540 144,036 143,728 152 0.50 34,460 RWO SPDR Dow Jones Global Real Estate ETF 0.04 0.08 0.04 193,232 9,342,777 225,878 992 1,140 47,963 54,766 148 0.30 122,406 RWX SPDR Dow Jones International Real Estate ETF 0.01 0.04 0.01 559,067 21,728,900 525,954 6,539 6,136 254,171 237,647 274 0.40 1,695,058 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors 3

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 Global Equities DGT SPDR Global Dow ETF 0.45 0.55 0.43 3,075 254,231 2,021 780 665 64,490 54,483 207 0.40 880 GII SPDR S&P Global Infrastructure ETF 0.14 0.26 0.15 24,143 1,272,636 16,680 613 669 32,311 35,270 216 0.30 4,809 GNR SPDR S&P Global Natural Resources ETF 0.10 0.21 0.08 94,771 4,458,316 111,836 1,512 1,280 71,124 59,546 182 0.50 157,270 CWI SPDR MSCI ACWI ex-US ETF 0.02 0.06 0.02 127,337 4,922,768 117,286 9,183 11,011 355,015 421,061 187 0.40 119,542 ACIM SPDR MSCI ACWI IMI ETF 0.34 0.44 0.33 3,919 303,624 3,249 392 412 30,368 31,440 76 0.30 868 EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.25 0.35 0.35 801 57,775 1,207 603 430 43,519 30,767 38 0.40 1,770 SPDW SPDR Portfolio World ex- US ETF 0.02 0.06 0.03 440,543 13,759,891 238,583 26,821 17,040 837,620 527,889 350 0.40 118,573 GWX SPDR S&P International Small Cap ETF 0.07 0.19 0.07 134,730 4,841,232 167,018 658 1,596 23,642 56,323 154 0.50 61,064 LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.21 0.24 0.18 3,959 351,783 2,711 251 409 22,301 35,910 112 0.40 3,329 International Developed Equities—Region/Country FEZ SPDR EURO STOXX 50 ETF 0.01 0.02 0.01 2,091,854 86,105,107 2,183,780 69,920 86,460 2,877,907 3,548,318 341 0.40 7,979,121 FEU SPDR STOXX Europe 50 ETF 0.04 0.12 0.06 74,934 2,667,382 63,348 1,132 1,011 40,299 35,931 194 0.40 7,952 SMEZ SPDR EURO STOXX Small Cap ETF 0.18 0.30 0.17 3,681 228,632 5,519 742 550 46,086 34,326 119 0.50 21,880 Emerging Market Equities SPEM SPDR Portfolio Emerging Markets ETF 0.03 0.07 0.08 285,803 10,699,583 164,932 2,065 1,195 77,314 54,032 151 0.60 86,035 GMF SPDR S&P Emerging Asia Pacific ETF 0.21 0.20 0.19 18,292 1,908,397 22,202 515 508 53,730 51,648 47 0.60 33,991 SPDR MSCI Emerging Markets Fossil Fuel Reserves Free EEMX ETF 0.33 0.48 0.42 1,080 74,269 1,603 324 307 22,288 20,907 107 0.60 6,352 EWX SPDR S&P Emerging Markets Small Cap ETF 0.06 0.13 0.07 47,431 2,408,759 52,876 735 735 37,323 37,037 149 0.40 27,659 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors 4

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 Emerging Market Equities (cont’d) GXC SPDR S&P China ETF 0.10 0.09 0.11 98,216 10,711,217 75,428 331 341 36,099 36,262 69 0.80 57,909 XINA SPDR MSCI China A Shares IMI ETF 0.10 0.43 0.12 2,781 67,413 1,406 290 297 7,030 7,187 254 0.70 200 Advanced Beta—Income EDIV SPDR S&P Emerging Markets Dividend ETF 0.07 0.24 0.07 58,021 1,768,952 53,040 752 785 22,928 24,162 128 0.50 6,941 DWX SPDR S&P International Dividend ETF 0.04 0.10 0.05 74,396 3,010,777 98,065 1,022 1,187 41,360 48,145 146 0.30 20,614 SDY SPDR S&P Dividend ETF 0.03 0.03 0.02 376,789 35,110,137 383,110 1,846 1,639 172,010 151,050 182 0.30 520,145 WDIV SPDR S&P Global Dividend ETF 0.07 0.11 0.08 8,117 556,235 9,278 509 527 34,877 35,915 129 0.30 7,371 SPYD SPDR Portfolio S&P 500 High Dividend ETF 0.01 0.03 0.03 128,921 4,748,932 83,080 838 1,781 30,872 65,113 205 0.30 47,643 Advanced Beta—Multi Factor QCAN SPDR MSCI Canada StrategicFactors ETF 0.05 0.08 0.05 720 43,323 2,042 1,087 873 65,448 52,074 189 0.30 64 QDEU SPDR MSCI Germany StrategicFactors ETF 0.05 0.08 0.05 2,073 134,960 1,442 902 940 58,729 60,357 148 0.50 4,452 QJPN SPDR MSCI Japan StrategicFactors ETF 0.26 0.33 0.26 4,828 378,096 2,412 481 489 37,667 37,795 128 0.60 985 QGBR SPDR MSCI United Kingdom StrategicFactors ETF 0.15 0.29 0.15 1,222 64,452 1,081 861 846 45,401 44,593 39 0.40 361 QEFA SPDR MSCI EAFE StrategicFactors ETF 0.32 0.50 0.30 9,031 580,244 11,174 903 1,031 58,018 65,706 161 0.40 4,814 QWLD SPDR MSCI World StrategicFactors ETF 0.17 0.23 0.39 74 5,475 418 993 831 73,740 59,633 120 0.90 252 QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.24 0.38 0.28 7,409 469,108 7,446 560 621 35,454 38,837 187 0.50 61,299 QUS SPDR MSCI USA StrategicFactors ETF 0.10 0.13 0.09 2,205 165,123 3,369 251 394 18,800 28,896 113 0.30 16,191 Advanced Beta—Single Factor SPYB SPDR S&P 500 Buyback ETF 0.14 0.23 0.14 226 13,373 563 4,577 4,358 271,050 252,633 22 0.50 10,445 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors 5

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 Advanced Beta—Single Factor (cont’d) VLU SPDR S&P 1500 Value Tilt ETF 0.73 0.72 0.62 954 94,168 654 1,134 877 111,994 85,332 127 1.00 5,901 MMTM SPDR S&P 1500 Momentum Tilt ETF 0.54 0.48 0.54 609 67,842 864 719 741 80,133 79,976 70 0.40 2,629 LGLV SPDR SSGA US Large Cap Low Volatility Index ETF 0.15 0.17 0.23 3,644 332,173 2,971 246 353 22,425 31,749 74 0.30 8,293 SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.26 0.27 0.28 17,086 1,634,831 11,424 1,834 2,066 175,477 196,848 240 0.50 8,807 ONEY SPDR Russell 1000 Yield Focus ETF 0.12 0.17 0.20 240 17,425 300 347 2,685 25,185 190,877 22 0.60 467 ONEO SPDR Russell 1000 Momentum Focus ETF 0.17 0.23 0.24 6,318 470,737 6,155 485 658 36,137 48,251 105 0.40 29,318 ONEV SPDR Russell 1000 Low Volatility Focus ETF 0.17 0.22 0.20 1,026 75,687 4,243 645 1,103 47,569 78,600 119 0.40 1,265 Advanced Beta—Fixed Income SPDR Bloomberg Barclays Issuer Scored Corporate Bond CBND ETF 0.10 0.30 0.10 5,752 185,342 4,563 491 498 15,820 16,095 160 0.20 1,505 Fixed Income—US Government BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 0.01 0.02 0.01 516,603 24,221,843 556,237 982,492 1,330,000 46,069,050 61,326,300 683 4.80 525,707 ITE SPDR Bloomberg Barclays Intermediate Term Treasury ETF 0.06 0.09 0.06 62,495 3,735,188 48,917 6,400 8,215 382,528 492,325 285 0.10 19,842 SPTL SPDR Portfolio Long Term Treasury ETF 0.03 0.08 0.04 87,545 3,172,850 74,518 7,864 4,851 284,991 207,518 235 0.40 12,430 IPE SPDR Bloomberg Barclays TIPS ETF 0.04 0.08 0.05 62,170 3,514,205 48,693 4,576 5,317 258,681 300,623 124 0.20 30,202 SPTS SPDR Portfolio Short Term Treasury ETF 0.01 0.04 0.02 77,548 2,328,321 43,139 4,979 8,775 149,470 264,588 328 0.00 35,344 TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF 0.03 0.15 0.03 17,226 336,238 23,461 1,608 2,013 31,388 39,294 386 0.10 56,204 Fixed Income—US Investment Grade Corporates SPSB SPDR Portfolio Short Term Corporate Bond ETF 0.01 0.05 0.01 608,811 18,598,597 499,246 19,317 20,628 590,134 631,796 499 0.00 242,054 SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF 0.02 0.07 0.02 680,128 23,381,900 565,791 8,749 10,348 300,791 356,824 310 0.10 77,744 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors 6

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 Fixed Income—US Investment Grade Corporates (cont’d) SPLB SPDR Portfolio Long Term Corporate Bond ETF 0.02 0.07 0.08 137,803 3,873,684 82,317 2,754 2,383 77,415 83,179 353 0.30 46,939 SPDR Bloomberg Barclays Investment Grade Floating Rate FLRN ETF 0.01 0.04 0.01 659,055 20,268,813 376,911 8,969 9,471 275,797 291,139 250 0.00 848,636 Fixed Income—High Yield JNK SPDR Bloomberg Barclays High Yield Bond ETF 0.01 0.03 0.01 13,005,925 478,519,316 9,126,226 99,554 100,595 3,662,592 3,720,003 674 0.30 40,226,568 SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF 0.01 0.04 0.01 2,505,338 69,318,229 1,679,706 31,896 33,684 882,562 935,405 413 0.20 423,434 CJNK SPDR ICE BofAML Crossover Corporate Bond ETF 0.30 1.02 0.21 27,001 717,412 19,323 468 474 12,435 12,632 161 0.30 9,327 Fixed Income—US Mortgage MBG SPDR Bloomberg Barclays Mortgage Backed Bond ETF 0.04 0.16 0.05 64,209 1,683,258 45,749 765 1,198 20,058 31,448 131 0.10 13,222 Fixed Income—US Aggregate SPAB SPDR Portfolio Aggregate Bond ETF 0.02 0.08 0.04 357,436 10,293,209 194,964 9,167 5,995 264,010 217,177 295 0.10 74,228 Fixed Income—Hybrids CWB SPDR Bloomberg Barclays Convertible Securities ETF 0.01 0.03 0.01 475,453 24,632,040 799,996 1,635 2,500 84,709 128,125 148 0.30 1,864,199 PSK SPDR Wells Fargo Preferred Stock ETF 0.05 0.11 0.05 52,862 2,362,512 56,649 2,707 4,240 120,976 189,698 167 0.20 57,555 Fixed Income—Municipal SPDR Nuveen Bloomberg Barclays Short Term Municipal SHM Bond ETF 0.01 0.02 0.01 317,279 15,303,289 308,276 12,724 11,230 613,679 544,767 481 0.10 193,079 TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF 0.02 0.04 0.02 328,574 16,044,535 303,257 2,888 2,973 141,021 145,588 121 0.10 195,822 HYMB SPDR Nuveen S&P High Yield Municipal Bond ETF 0.15 0.27 0.15 64,073 3,568,032 85,621 679 629 37,814 35,444 184 0.20 11,239 Fixed Income—International SPDR Citi International Government Inflation-Protected WIP Bond ETF 0.10 0.18 0.14 34,440 1,948,780 38,775 650 784 36,777 44,696 141 0.30 6,599 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 Fixed Income—International (cont’d) SPDR Bloomberg Barclays Short Term International BWZ Treasury Bond ETF 0.12 0.39 0.14 22,791 723,253 30,489 1,321 1,058 41,915 33,835 214 0.30 6,581 BWX SPDR Bloomberg Barclays International Treasury Bond ETF 0.02 0.07 0.02 407,118 11,432,493 468,497 1,304 1,485 36,616 41,936 195 0.30 934,427 SPDR Bloomberg Barclays International Corporate Bond IBND ETF 0.08 0.22 0.09 35,848 1,238,227 38,778 705 857 24,351 29,669 225 0.30 19,063 SPDR Bloomberg Barclays Emerging Markets Local Bond EBND ETF 0.05 0.18 0.07 138,155 4,029,585 145,059 1,005 927 29,316 27,328 199 0.30 243,772 Commodity GLD® SPDR Gold Trust® 0.01 0.01 0.01 5,545,424 675,231,577 7,000,894 11,448 11,985 1,393,908 1,474,754 188 0.50 12,599,487 NANR SPDR S&P North American Natural Resources ETF 0.07 0.20 0.07 22,875 775,272 25,566 1,307 1,484 44,294 50,130 141 0.50 1,532 Active—Asset Allocation RLY SPDR SSgA Multi-Asset Real Return ETF 0.10 0.41 0.11 13,055 334,981 14,623 5,095 5,947 130,738 150,994 211 0.40 7,380 INKM SPDR SSgA Income Allocation ETF 0.08 0.23 0.08 4,561 152,290 6,122 10,272 9,750 342,982 324,188 147 0.20 968 GAL SPDR SSgA Global Allocation ETF 0.07 0.19 0.06 12,039 453,197 13,194 11,500 8,494 432,860 316,062 155 0.20 2,608 DWFI SPDR Dorsey Wright Fixed Income Allocation ETF 0.05 0.22 0.04 16,809 429,603 27,711 2,230 2,871 56,958 73,594 343 0.38 10,189 Active—Equity SYE SPDR MFS Systematic Core Equity ETF 0.17 0.23 0.21 2,167 157,872 1,464 357 733 26,011 53,003 50 0.30 4,172 SYG SPDR MFS Systematic Growth Equity ETF 0.17 0.22 0.21 7,193 560,875 4,244 477 616 37,196 47,481 82 0.30 2,181 SYV SPDR MFS Systematic Value Equity ETF 0.11 0.16 0.12 1,206 77,139 791 312 438 19,949 27,822 75 0.30 2,310 Active—Fixed Income TOTL SPDR DoubleLine Total Return Tactical ETF 0.02 0.04 0.02 283,740 13,876,874 346,065 2,865 3,558 140,127 174,840 226 0.10 118,131 EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF 0.15 0.29 0.13 12,266 626,576 5,590 1,355 1,827 69,114 93,534 323 0.22 2,342 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. State Street Global Advisors 8

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SPDR® ETF Trading Report Consolidated Consolidated Avg. Avg. Avg. Quote Short Spread ($) Avg. Daily Consolidated Daily Volume Avg. Quote Size Avg. Size ($) Avg. Daily Interest as Spread Spread vs. 3 mo. Volume Avg. Daily (shares) vs. Quote Size (Shares) vs. 3 Quote vs. 3 mo. Trade Volatility of Ticker ETF Name ($) (%) trailing (shares) Volume ($) 3 mo. trailing (shares) mo. trailing Size ($) trailing Size (%) 12/15/2017 Active—Fixed Income (cont’d) STOT SPDR DoubleLine Short Duration Total Return Tactical ETF 0.03 0.07 0.10 3,993 197,583 7,014 814 1,038 40,306 51,558 143 0.08 5,181 SRLN SPDR Blackstone / GSO Senior Loan ETF 0.01 0.03 0.01 213,624 10,107,573 389,309 10,364 12,784 490,321 605,322 213 0.10 86,599 ULST SPDR SSgA Ultra Short Term Bond ETF 0.06 0.16 0.06 5,546 223,304 5,716 3,909 3,024 157,376 121,776 169 0.10 1,985 Source: NYSE, Nasdaq and BATS as of 11/31/2017. Past performance is not a guarantee of future results. Prior to 10/16/2017, the SPDR Portfolio Total Stock Market ETF (SPTM) was known as the SPDR Russell 3000® ETF (THRK), the SPDR Portfolio Large Cap ETF (SPLG) was known as the SPDR Russell 1000® ETF (ONEK), the SPDR Portfolio Mid Cap ETF (SPMD) was known as the SPDR S&P 1000® ETF (SMD), the SPDR Portfolio Small Cap ETF (SPSM) was known as the SPDR Russell 2000® ETF (TWOK), the SPDR Portfolio S&P 500 Growth ETF (SPYG) was known as the SPDR S&P 500 Growth ETF (SPYG), the SPDR Portfolio S&P 500 Value ETF (SPYV) was known as the SPDR S&P 500 Value ETF (SPYV), the SPDR Portfolio S&P 500 High Dividend ETF (SPYD) was known as the SPDR S&P 500 High Dividend ETF (SPYD), the SPDR Portfolio Developed World ex-US ETF (SPDW) was known as the SPDR S&P World ex-US ETF (GWL), the SPDR Portfolio Emerging Markets ETF (SPEM) was known as the SPDR S&P Emerging Markets ETF (GMM), the SPDR Portfolio Aggregate Bond ETF (SPAB) was known as the SPDR Bloomberg Barclays Aggregate Bond ETF (BNDS), the SPDR Portfolio Short Term Corporate Bond ETF (SPSB) was known as the SPDR Bloomberg Barclays Short Term Corporate Bond ETF (SCPB), the SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) was known as the SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF (ITR), the SPDR Portfolio Long Term Corporate Bond ETF (SPLB) was known as the SPDR Bloomberg Barclays Long Term Corporate Bond ETF (LWC), the SPDR Portfolio Short Term Treasury ETF (SPTS) was known as the SPDR Bloomberg Barclays Short Term Treasury ETF (SST), and the SPDR Portfolio Long Term Treasury ETF (SPTL) was known as the SPDR Bloomberg Barclays Long Term Treasury ETF (TLO). State Street Global Advisors 9

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SPDR® ETF Trading Report ssga.com | spdrs.com State Street Global Advisors One Lincoln Street, Boston, MA 02111-2900. T: +1 617 786 3000. Important Risk Information ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs’ net asset value. Brokerage commissions and ETF expenses will reduce returns. While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. Commodities and commodity-index linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as trading activity of speculators and arbitrageurs in the underlying commodities. Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs. Diversification does not ensure a profit or guarantee against loss. Investing in commodities entails significant risk and is not appropriate for all investors. Important Information Relating to SPDR Gold Trust (“GLD®”): The SPDR Gold Trust (“GLD”) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents GLD has filed with the SEC for more complete information about GLD and this offering. Please see the GLD prospectus for a detailed discussion of the risks of investing in GLD shares. When distributed electronically, the GLD prospectus is available by clicking here. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus if you request it by calling 866.320.4053. GLD is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and is not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders of the Trust do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA. GLD shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value of GLD shares relates directly to the value of the gold held by GLD (less its expenses), and fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLD does not generate any income, and as GLD regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Share will decline over time to that extent. Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto. For more information, please contact the Marketing Agent for GLD: State Street Global Advisors Funds Distributors, LLC, One Lincoln Street, Boston, MA, 02111; T: +1 866 320 4053 spdrgoldshares.com The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data. State Street Global Advisors and SSGA are registered trademarks of State Street Corporation. There is no relationship between Dorsey Wright & Associates, LLC (collectively with its parent companies and affiliates, “Dorsey Wright”) and State Street Global Advisors (“SSGA”) other than a license by Dorsey Wright to SSGA of certain Dorsey Wright trademarks and trade names, and the Dorsey Wright Fixed Income Rotation Index (“Index”), for use by SSGA. BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licensed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs. Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, and all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc. is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State State Street Global Advisors Funds Distributors, LLC. State Street Global Advisors Funds Distributors, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained Nuveen Asset Management, LLC as the sub-advisor to certain of such funds. State Street Global Advisors Funds Distributors, LLC is not affiliated with Nuveen Asset Management, LLC Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit spdrs.com. Read it carefully. Not FDIC Insured • No Bank Guarantee • May Lose Value State Street Global Advisors © 2018 State Street Corporation. All Rights Reserved. 1985759.1.1.NA.INST Exp. Date: 1/31/2019 SPD001517

SPDR^® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Advisors Funds Distributors, LLC, One Lincoln Street, Attn: SPDR^® Gold Shares, 30th Floor, Boston, MA 02111.