As of 09/30/2016

SHMSPDR® Nuveen Barclays Short Term Municipal Bond ETF

Intraday NAV Ticker

SHMIV

Index Ticker

LMM1TR

Key Features

Low turnover

Fund Inception Date

10/10/2007

Objective

The SPDR® Nuveen Barclays Short Term Municipal Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Managed Money Municipal Short Term Index. Ordinary brokerage commissions may apply.

About This Benchmark

The SPDR® Nuveen Barclays Short Term Municipal Bond ETF uses a passive management strategy designed to track the price and yield performance of the Barclays Managed Money Municipal Short Term Index. The Index tracks publicly traded municipal bonds that cover the US dollar denominated short-term tax exempt bond market, including state and local general obligation bonds, revenue bonds, insured bonds, and pre-refunded bonds.

Performance Fund Before Taxes (%) Fund After Taxes (%)

Total Return NAV MARKET VALUE

Return after Taxes on

Distributions

Return after Taxes on

Distributions and Sale of

Fund Shares Benchmark (%)

QTD -0.27 -0.24 -0.37 -0.15 -0.22

YTD 1.13 0.92 0.85 0.64 1.27

Annualized

1 Year 1.08 1.24 0.81 0.75 1.31

3 Year 1.25 1.21 1.15 1.08 1.46

5 Year 1.09 1.10 1.03 1.02 1.40

Since Fund Inception 2.40 2.40 2.36 2.17 2.83

(%)

Gross Expense Ratio 0.20

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit spdrs.com for most recent month-end performance. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.Definitions: Return after Taxes on Distributions represents returns after taxes on distributions, assuming shares were not sold. Return after Taxes on Distributions and Sale of Fund Shares represents the return after taxes on distributions and the sale of fund shares. Market Value is determined by the midpoint between the bid/offer prices as of the closing time of the New York Stock Exchange (typically 4:00PM EST) on business days. NAV is the market value of a mutual fund's and ETFs total assets, minus liabilities, divided by the number of shares outstanding. An Intraday NAV is calculated and published throughout the trading day. It is based on the last trade price of each holding listed in the basket used for creation and redemption including estimated cash amounts. This value is used to provide an intraday relationship between the basket of securities representing the ETF and the market price of the ETF. Taxable Equivalent Yield shows what you would have to earn on an investment taxed at a 35% Federal rate and 6.85% state rate to equal the fund's tax-free yield. The formula for tax-equivalent yield is: tax-exempt portion of yield/(1 - tax rate), plus the taxable portion of the yield, if any. This assumes a fixed yield of 4.0%. Modified Option-Adjusted Duration - An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates. calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities. Index Average Yield to Worst - A portfolio weighted average of the lowest Internal Rate of Return based on a calculation of yield to call for all possible call dates and the yield to maturity. 30 Day SEC Yield (Standardized Yield) - An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.Intellectual Property Information: 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, including for any errors, omissions, or interruptions of any index.Barclays is a trademark of Barclays, the investment banking division of Barclays Bank PLC ("Barclays") and has been licensed for use in connection with the listing and trading of the SPDR Barclays ETFs. The products are not sponsored by, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of investing in them.

spdrs.com

SPDR® Nuveen Barclays Short Term Municipal Bond ETF State Street Global AdvisorsAs of 09/30/2016

Characteristics

30 Day SEC Yield 0.75%

Index Average Yield to Worst 1.01%

Modified Option-Adjusted Duration 2.93

Number of Holdings 927

Taxable Equivalent Yield 1.33%

Key Facts

Bloomberg SPDR

Ticker Symbol SHM

CUSIP 78468R739

Primary Benchmark Barclays Managed Money Municipal Short Term Index

Investment Manager SSGA Funds Management, Inc.

Sub-Adviser Nuveen Asset Management, LLC

Distributor State Street Global Markets, LLC

Top States Weight (%) Weight (%)

CALIFORNIA-CA 17.48 CONNECTICUT-CT 3.85

NEW YORK-NY 14.90 WASHINGTON-WA 3.54

TEXAS-TX 8.87 MASSACHUSETTS-MA 3.38

MARYLAND-MD 5.25 PENNSYLVANIA-PA 3.23

FLORIDA-FL 4.35 VIRGINIA-VA 3.20

Top 10 Holdings Coupon Maturity Date Weight (%)

CALIFORNIA ST 5 08/01/2020 0.98

BAY AREA CA TOLL AUTH TOLL BRI 1.875 04/01/2047 0.91

CALIFORNIA ST INFRASTRUCTURE & 5 10/01/2020 0.86

CALIFORNIA ST 5 08/01/2020 0.83

CENTRL PLAINS ENERGY PROJ NE G 5 08/01/2039 0.78

HAWAII ST 5 11/01/2018 0.77

CALIFORNIA ST 5 09/01/2020 0.74

MARYLAND ST 5 03/01/2018 0.73

CALIFORNIA ST 5 12/01/2019 0.72

WASHINGTON ST 4 07/01/2019 0.71

20161013/10:49

Expiration Date: 01/31/2017Date of First Use: October 2016

Prior to 10/31/2016, the SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF was known as the SPDR Nuveen Barclays Short Term Municipal Bond ETF. Index prior to 10/31/2016 was known as the Barclays Managed Money Municipal Short Term Index. Index after 10/31/2016 is known as the Bloomberg Barclays Managed Money Municipal Short Term Index.Important Risk Information:The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Interest rate increases can cause the price of a debt security to decrease. A portion of the dividends you receive may be subject to federal, state, or local income tax or may be subject to the federal alternative minimum tax.Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; issuer credit risk; liquidity risk; and inflation risk. There are additional risks for funds that invest in mortgage-backed and asset-backed securities including the risk of issuer default; credit risk and inflation risk.Income exempt from federal income tax may be subject to state or local tax and the Federal Alternative Minimum Tax (AMT).Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.Passively managed funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.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. Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a 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.State Street Global Markets, LLC is the distributor for all registered products on behalf of the advisor. SSGA Funds Management has retained Nuveen Asset Management as the sub-advisor.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 1-866-787-2257 or visit www.spdrs.com. Read it carefully. Not FDIC Insured • No Bank Guarantee • May Lose Value

ETF-SHM