Semi-Annual Report
March 31, 2022
SPDR® Index Shares Funds
SPDR MSCI ACWI Climate Paris Aligned ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI EAFE StrategicFactors ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactors ETF
SPDR MSCI World StrategicFactors ETF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Global Dividend ETF
SPDR S&P Global Infrastructure ETF
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting https://www.ssga.com/spdrs. Please read the prospectus carefully before you invest.

TABLE OF CONTENTS (Unaudited)
Portfolio Statistics (Unaudited)  
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Schedules of Investments (Unaudited)  
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The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting https://www.ssga.com/spdrs. Please read the prospectus carefully before you invest.

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Table of Contents
SPDR MSCI ACWI Climate Paris Aligned ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Apple, Inc. 4.4%  
  Microsoft Corp. 3.3  
  Amazon.com, Inc. 2.3  
  Tesla, Inc. 1.3  
  Alphabet, Inc. Class A 1.3  
  Alphabet, Inc. Class C 1.2  
  NVIDIA Corp. 1.0  
  Meta Platforms, Inc. Class A 0.8  
  Taiwan Semiconductor Manufacturing Co., Ltd. 0.8  
  Johnson & Johnson 0.7  
  TOTAL 17.1%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
1

Table of Contents
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Nestle SA 2.4%  
  ASML Holding NV 1.9  
  Roche Holding AG 1.9  
  AstraZeneca PLC 1.4  
  LVMH Moet Hennessy Louis Vuitton SE 1.3  
  Toyota Motor Corp. 1.3  
  Novartis AG 1.3  
  Novo Nordisk A/S Class B 1.3  
  HSBC Holdings PLC 0.9  
  Commonwealth Bank of Australia 0.9  
  TOTAL 14.6%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
2

Table of Contents
SPDR MSCI EAFE StrategicFactors ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Nestle SA 2.6%  
  Roche Holding AG 2.6  
  Novo Nordisk A/S Class B 2.1  
  Novartis AG 1.8  
  ASML Holding NV 1.4  
  GlaxoSmithKline PLC 1.2  
  Unilever PLC 1.1  
  LVMH Moet Hennessy Louis Vuitton SE 1.1  
  Shell PLC 1.0  
  BHP Group, Ltd. 1.0  
  TOTAL 15.9%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
3

Table of Contents
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Taiwan Semiconductor Manufacturing Co., Ltd. 7.6%  
  Tencent Holdings, Ltd. 4.2  
  Samsung Electronics Co., Ltd. 4.1  
  Alibaba Group Holding, Ltd. 2.9  
  Infosys, Ltd. 1.4  
  Meituan Class B 1.2  
  China Construction Bank Corp. Class H 1.1  
  JD.com, Inc. Class A 1.0  
  SK Hynix, Inc. 0.9  
  Tata Consultancy Services, Ltd. 0.9  
  TOTAL 25.3%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
4

Table of Contents
SPDR MSCI Emerging Markets StrategicFactors ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Vale SA ADR 3.5%  
  Taiwan Semiconductor Manufacturing Co., Ltd. 2.9  
  Tata Consultancy Services, Ltd. 2.3  
  Al Rajhi Bank 2.3  
  Samsung Electronics Co., Ltd. 1.7  
  China Construction Bank Corp. Class H 1.6  
  Infosys, Ltd. 1.5  
  Bank of China, Ltd. Class H 1.2  
  Industrial & Commercial Bank of China, Ltd. Class H 1.0  
  Wal-Mart de Mexico SAB de CV 1.0  
  TOTAL 19.0%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
5

Table of Contents
SPDR MSCI World StrategicFactors ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Apple, Inc. 2.5%  
  Microsoft Corp. 2.2  
  Johnson & Johnson 1.5  
  NVIDIA Corp. 1.4  
  Roche Holding AG 1.3  
  Nestle SA 1.3  
  Alphabet, Inc. Class C 1.2  
  Meta Platforms, Inc. Class A 1.2  
  UnitedHealth Group, Inc. 1.2  
  Visa, Inc. Class A 1.0  
  TOTAL 14.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
6

Table of Contents
SPDR S&P Emerging Asia Pacific ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Taiwan Semiconductor Manufacturing Co., Ltd. ADR 6.2%  
  Tencent Holdings, Ltd. 5.1  
  Alibaba Group Holding, Ltd. ADR 3.6  
  Reliance Industries, Ltd. GDR 2.1  
  Infosys, Ltd. ADR 1.8  
  Meituan Class B 1.5  
  China Construction Bank Corp. Class H 1.3  
  Housing Development Finance Corp., Ltd. 1.2  
  JD.com, Inc. ADR 1.0  
  MediaTek, Inc. 1.0  
  TOTAL 24.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
7

Table of Contents
SPDR S&P Global Dividend ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Enagas SA 1.8%  
  Keyera Corp. 1.6  
  LTC Properties, Inc. REIT 1.6  
  New World Development Co., Ltd. 1.5  
  South Jersey Industries, Inc. 1.4  
  TC Energy Corp. 1.4  
  China Overseas Land & Investment, Ltd. 1.4  
  Rubis SCA 1.4  
  Guangdong Investment, Ltd. 1.3  
  KT&G Corp. 1.3  
  TOTAL 14.7%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
8

Table of Contents
SPDR S&P Global Infrastructure ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

      
  Description % of Net Assets  
  Transurban Group Stapled Security 5.0%  
  Aena SME SA 4.9  
  NextEra Energy, Inc. 4.9  
  Enbridge, Inc. 4.9  
  Atlantia SpA 4.2  
  Duke Energy Corp. 3.3  
  TC Energy Corp. 3.2  
  Getlink SE 3.1  
  Southern Co. 3.0  
  Dominion Energy, Inc. 2.7  
  TOTAL 39.2%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
9

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.4%        
AUSTRALIA — 1.7%          
Ampol, Ltd.
     3,165   $ 72,824
Aristocrat Leisure, Ltd.
     1,465   40,375
ASX, Ltd.
     233   14,313
Australia & New Zealand Banking Group, Ltd.
     4,992   103,465
Brambles, Ltd.
     5,993   44,599
Cochlear, Ltd.
     159   26,905
Coles Group, Ltd.
     998   13,423
Commonwealth Bank of Australia
     2,878   228,594
Computershare, Ltd.
     1,740   32,274
Crown Resorts, Ltd. (a)
     1,824   17,478
CSL, Ltd.
     833   167,739
Dexus REIT
     1,896   15,591
Domino's Pizza Enterprises, Ltd.
     112   7,389
Endeavour Group, Ltd.
     2,233   12,224
Evolution Mining, Ltd.
     1,266   4,183
Fortescue Metals Group, Ltd.
     7,731   119,944
Goodman Group REIT
     2,674   45,964
GPT Group REIT
     2,094   8,145
IDP Education, Ltd.
     379   8,988
Insurance Australia Group, Ltd.
     5,428   17,854
LendLease Corp., Ltd. Stapled Security
     1,238   10,412
Macquarie Group, Ltd.
     663   101,204
Medibank Pvt, Ltd.
     2,041   4,721
Mirvac Group REIT
     6,704   12,536
National Australia Bank, Ltd.
     5,572   135,362
Northern Star Resources, Ltd.
     2,689   21,687
QBE Insurance Group, Ltd. (b)
     3,567   30,804
Ramsay Health Care, Ltd.
     23   1,125
REA Group, Ltd. (b)
     125   12,716
Rio Tinto PLC
     315   25,221
Scentre Group REIT
     13,375   30,634
SEEK, Ltd. (b)
     257   5,755
Sonic Healthcare, Ltd.
     1,053   28,056
Stockland REIT
     4,007   12,849
Suncorp Group, Ltd.
     4,111   34,329
Tabcorp Holdings, Ltd.
     9,475   37,995
Telstra Corp., Ltd.
     8,658   25,747
Transurban Group Stapled Security
     6,981   71,034
Treasury Wine Estates, Ltd.
     1,885   16,392
Vicinity Centres REIT
     7,102   9,946
Wesfarmers, Ltd.
     2,417   91,496
Westpac Banking Corp. (b)
     6,702   121,997
WiseTech Global, Ltd.
     273   10,472
Woolworths Group, Ltd.
     2,233   62,480
          1,917,241
AUSTRIA — 0.1%          
Erste Group Bank AG
     456   16,789
Raiffeisen Bank International AG (a)
     1,128   16,253
Security Description     Shares   Value
Verbund AG
     783   $ 83,200
          116,242
BELGIUM — 0.2%          
Ageas SA/NV
     226   11,527
Anheuser-Busch InBev SA/NV (b)
     1,663   100,399
Elia Group SA
     201   30,907
Groupe Bruxelles Lambert SA
     117   12,253
KBC Group NV
     163   11,857
Proximus SADP
     665   12,468
UCB SA
     172   20,755
Umicore SA
     707   30,962
          231,128
BRAZIL — 0.7%          
Ambev SA
     11,454   37,120
Americanas SA
     1,108   7,610
B3 SA - Brasil Bolsa Balcao
     12,674   41,900
Banco Bradesco SA Preference Shares
     2,611   12,209
Banco Bradesco SA
     10,218   39,286
Banco BTG Pactual SA 
    2,976   16,308
Banco do Brasil SA
     2,640   19,278
Banco Inter SA
     1,937   8,642
CCR SA
     5,841   16,840
Hapvida Participacoes e Investimentos SA (c)
     3,943   9,825
Itau Unibanco Holding SA Preference Shares
     6,839   39,549
Localiza Rent a Car SA
     1,816   23,350
Lojas Renner SA
     1,808   10,463
MercadoLibre, Inc. (a)
     81   96,348
Natura & Co. Holding SA (a)
     2,147   11,770
Raia Drogasil SA
     812   4,091
Telefonica Brasil SA
     1,710   19,320
TIM SA
     4,000   11,608
Vale SA
     10,337   207,960
WEG SA
     2,796   20,517
Wheaton Precious Metals Corp.
     2,282   108,614
          762,608
CANADA — 3.5%          
Agnico Eagle Mines, Ltd.
     1,564   95,790
Alimentation Couche-Tard, Inc.
     1,937   87,340
AltaGas, Ltd. (b)
     6,100   136,744
Ballard Power Systems, Inc. (a)(b)
     600   6,989
Bank of Montreal (b)
     1,265   148,989
Bank of Nova Scotia
     2,339   167,787
BCE, Inc. (b)
     1,547   85,831
BlackBerry, Ltd. (a)
     1,821   13,515
Brookfield Asset Management, Inc. Class A
     3,002   169,874
CAE, Inc. (a)
     514   13,391
Cameco Corp.
     3,512   102,375
Canadian Imperial Bank of Commerce
     815   99,016
 
See accompanying notes to financial statements.
10

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Canadian National Railway Co.
     1,182   $ 158,698
Canadian Pacific Railway, Ltd. (d)
     1,130   93,346
Canadian Pacific Railway, Ltd. (d)
     501   41,353
Canadian Tire Corp., Ltd. Class A (b)
     143   21,611
Canopy Growth Corp. (a)(b)
     825   6,262
CCL Industries, Inc. Class B
     401   18,107
CGI, Inc. (a)
     324   25,833
Constellation Software, Inc.
     34   58,171
Dollarama, Inc.
     446   25,316
Enbridge, Inc. (d)
     968   44,601
Enbridge, Inc. (d)
     5,183   238,884
Fairfax Financial Holdings, Ltd.
     65   35,492
FirstService Corp.
     28   4,054
Franco-Nevada Corp.
     824   131,241
George Weston, Ltd.
     396   48,808
Great-West Lifeco, Inc.
     1,074   31,677
Hydro One, Ltd. (c)
     4,439   119,695
iA Financial Corp., Inc.
     99   6,025
Intact Financial Corp.
     305   45,106
Ivanhoe Mines, Ltd. Class A (a)
     7,100   66,279
Keyera Corp.
     952   24,153
Lightspeed Commerce, Inc. (a)(b)
     200   6,105
Loblaw Cos., Ltd.
     777   69,784
Magna International, Inc.
     300   19,277
Manulife Financial Corp.
     3,584   76,498
Metro, Inc.
     646   37,217
National Bank of Canada (b)
     423   32,454
Nuvei Corp. (a)(b)(c)
     100   7,526
Onex Corp.
     300   20,122
Open Text Corp.
     397   16,849
Pan American Silver Corp.
     400   10,927
Pembina Pipeline Corp. (b)
     4,100   154,179
Power Corp. of Canada
     1,454   45,050
Restaurant Brands International, Inc.
     530   30,992
RioCan Real Estate Investment Trust
     851   17,190
Ritchie Bros Auctioneers, Inc.
     258   15,252
Rogers Communications, Inc. Class B (b)
     1,088   61,636
Royal Bank of Canada (b)
     2,445   269,429
Shaw Communications, Inc. Class B
     1,256   39,016
Shopify, Inc. Class A (a)
     199   134,701
Sun Life Financial, Inc. (b)
     874   48,841
TELUS Corp.
     2,256   58,990
TFI International, Inc.
     200   21,320
Thomson Reuters Corp.
     548   59,549
Toronto-Dominion Bank
     2,955   234,663
West Fraser Timber Co., Ltd.
     218   17,952
WSP Global, Inc.
     375   49,811
          3,927,683
Security Description     Shares   Value
CHILE — 0.2%          
Antofagasta PLC
     3,068   $ 67,580
Banco de Chile
     100,558   10,765
Banco de Credito e Inversiones SA (a)
     255   9,185
Cia Cervecerias Unidas SA
     950   7,109
Falabella SA
     9,216   29,453
Lundin Mining Corp.
     5,101   51,743
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares
     999   86,339
          262,174
CHINA — 3.6%          
360 DigiTech, Inc. ADR
     400   6,156
Agricultural Bank of China, Ltd. Class H
     131,000   50,350
Alibaba Group Holding, Ltd. (a)
     26,424   378,238
Alibaba Health Information Technology, Ltd. (a)(b)
     8,000   5,189
ANTA Sports Products, Ltd.
     1,000   12,565
Baidu, Inc. ADR (a)
     477   63,107
Bank of China, Ltd. Class H
     293,000   117,853
Bank of Communications Co., Ltd. Class A
     31,828   25,620
Bank of Communications Co., Ltd. Class H
     52,000   37,316
Bank of Jiangsu Co., Ltd. Class A
     14,700   16,325
BeiGene, Ltd. ADR (a)
     100   18,860
Beijing Easpring Material Technology Co., Ltd. Class A
     600   7,108
Bilibili, Inc. ADR (a)(b)
     399   10,206
BOC Hong Kong Holdings, Ltd.
     3,500   13,274
BOE Technology Group Co., Ltd. Class A
     9,200   6,246
Budweiser Brewing Co. APAC, Ltd. (b)(c)
     3,800   10,117
BYD Co., Ltd. Class H
     1,500   42,981
CanSino Biologics, Inc. Class H (a)(c)
     200   3,215
CGN Power Co., Ltd. Class H (c)
     107,000   28,009
Chengtun Mining Group Co., Ltd. Class A
     5,900   7,956
China Bohai Bank Co., Ltd. Class H (b)(c)
     30,000   4,980
China CITIC Bank Corp., Ltd. Class H
     60,000   30,416
China Common Rich Renewable Energy Investment, Ltd. (b)(e)
     24,000   —
China Conch Venture Holdings, Ltd.
     2,500   7,310
China Construction Bank Corp. Class A
     800   793
China Construction Bank Corp. Class H
     207,000   155,685
China Everbright Bank Co., Ltd. Class A
     26,309   13,677
 
See accompanying notes to financial statements.
11

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
China Evergrande Group (b)
     33,700   $ 7,100
China Feihe, Ltd. (b)(c)
     5,000   4,954
China Jushi Co., Ltd. Class A
     3,200   7,682
China Life Insurance Co., Ltd. Class H
     18,000   27,673
China Mengniu Dairy Co., Ltd. (a)
     4,000   21,554
China Merchants Bank Co., Ltd. Class A
     2,700   19,905
China Merchants Bank Co., Ltd. Class H
     5,500   43,227
China Merchants Port Holdings Co., Ltd.
     12,378   22,444
China Minmetals Rare Earth Co., Ltd. Class A
     1,700   7,801
China Minsheng Banking Corp., Ltd. Class A
     31,545   18,982
China Minsheng Banking Corp., Ltd. Class H (b)
     22,500   8,476
China Molybdenum Co., Ltd. Class H
     63,000   32,902
China National Nuclear Power Co., Ltd. Class A
     24,300   31,044
China Northern Rare Earth Group High-Tech Co., Ltd. Class A
     2,800   17,083
China Oilfield Services, Ltd. Class H
     60,000   61,522
China Overseas Land & Investment, Ltd.
     9,000   26,949
China Pacific Insurance Group Co., Ltd. Class H
     5,000   12,207
China Resources Beer Holdings Co., Ltd.
     2,000   12,271
China Resources Gas Group, Ltd.
     6,000   25,474
China Resources Land, Ltd.
     2,000   9,321
China Ruyi Holdings, Ltd. (a)(b)
     8,000   2,166
China Suntien Green Energy Corp., Ltd. Class H
     38,000   21,496
China Taiping Insurance Holdings Co., Ltd.
     7,600   9,307
China Tourism Group Duty Free Corp., Ltd. Class A
     200   5,179
China Tower Corp., Ltd. Class H (c)
     176,000   19,777
China Vanke Co., Ltd. Class H
     7,696   17,433
China Yangtze Power Co., Ltd. Class A
     13,596   47,118
Contemporary Amperex Technology Co., Ltd. Class A
     300   24,210
Country Garden Holdings Co., Ltd. (b)
     12,207   9,399
Country Garden Services Holdings Co., Ltd.
     2,000   8,581
CSPC Pharmaceutical Group, Ltd.
     10,720   12,388
Daqo New Energy Corp. ADR (a)
     100   4,132
Security Description     Shares   Value
Do-Fluoride New Materials Co., Ltd. Class A
     1,300   $ 8,058
ENN Energy Holdings, Ltd.
     3,500   52,513
ESR Cayman, Ltd. (a)(c)
     3,800   11,815
Foshan Haitian Flavouring & Food Co., Ltd. Class A
     884   12,174
Fosun International, Ltd.
     7,000   7,624
Futu Holdings, Ltd. ADR (a)
     100   3,256
Ganfeng Lithium Co., Ltd. Class A
     800   15,835
Ganfeng Lithium Co., Ltd. Class H (c)
     600   8,581
Geely Automobile Holdings, Ltd.
     7,000   11,048
GEM Co., Ltd. Class A
     6,900   9,109
Genscript Biotech Corp. (a)
     2,000   6,410
Great Wall Motor Co., Ltd. Class H
     5,000   8,019
Guangzhou Automobile Group Co., Ltd. Class H
     3,200   2,672
Guangzhou Tinci Materials Technology Co., Ltd. Class A
     800   11,846
Haier Smart Home Co., Ltd. Class H
     3,200   10,399
Hello Group, Inc. ADR
     298   1,722
Hoshine Silicon Industry Co., Ltd. Class A
     500   8,243
Huazhu Group, Ltd. ADR
     271   8,940
Hutchmed China, Ltd. ADR (a)(b)
     97   1,835
Iflytek Co., Ltd. Class A
     1,000   7,336
Industrial & Commercial Bank of China, Ltd. Class H
     122,000   74,932
Industrial Bank Co., Ltd. Class A
     3,232   10,524
Inner Mongolia Yuan Xing Energy Co., Ltd. Class A (a)
     9,200   14,188
Innovent Biologics, Inc. (a)(c)
     2,000   6,883
iQIYI, Inc. ADR (a)(b)
     600   2,724
JD Health International, Inc. (a)(b)(c)
     850   5,221
JD.com, Inc. Class A (a)
     3,446   102,966
Jiangsu Expressway Co., Ltd. Class H
     12,000   12,565
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. Class A
     317   6,773
JOYY, Inc. ADR
     99   3,636
KE Holdings, Inc. ADR (a)
     658   8,139
Kingdee International Software Group Co., Ltd. (a)
     3,000   6,673
Kingsoft Corp., Ltd.
     2,000   6,487
Kuaishou Technology (a)(c)
     600   5,685
Kweichow Moutai Co., Ltd. Class A
     202   54,700
Lenovo Group, Ltd. (b)
     22,000   23,934
Li Auto, Inc. ADR (a)
     1,000   25,810
Li Ning Co., Ltd.
     3,500   30,212
Longfor Group Holdings, Ltd. (c)
     1,500   7,719
LONGi Green Energy Technology Co., Ltd. Class A
     980   11,145
 
See accompanying notes to financial statements.
12

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Luzhou Laojiao Co., Ltd. Class A
     300   $ 8,784
Meituan Class B (a)(c)
     7,000   139,081
Microport Scientific Corp. (a)(b)
     1,000   2,270
Muyuan Foods Co., Ltd. Class A
     1,372   12,289
NetEase, Inc.
     3,575   65,644
New China Life Insurance Co., Ltd. Class H
     3,600   10,067
Ningxia Baofeng Energy Group Co., Ltd. Class A
     4,400   10,300
NIO, Inc. ADR (a)
     2,355   49,573
Nongfu Spring Co., Ltd. Class H (b)(c)
     3,400   18,126
NXP Semiconductors NV
     577   106,791
Offshore Oil Engineering Co., Ltd. Class A
     10,700   7,214
People's Insurance Co. Group of China, Ltd. Class H
     51,000   16,737
Pharmaron Beijing Co., Ltd. Class H (c)
     400   4,875
PICC Property & Casualty Co., Ltd. Class H
     22,000   22,530
Pinduoduo, Inc. ADR (a)
     816   32,730
Ping An Insurance Group Co. of China, Ltd. Class A
     85   649
Ping An Insurance Group Co. of China, Ltd. Class H
     11,000   78,166
Postal Savings Bank of China Co., Ltd. Class H (b)(c)
     13,000   10,541
Prosus NV (a)
     1,573   85,016
RLX Technology, Inc. ADR (a)
     2,700   4,833
Sany Heavy Industry Co., Ltd. Class A
     3,300   9,108
SF Holding Co., Ltd. Class A
     1,100   7,919
Shandong Weigao Group Medical Polymer Co., Ltd. Class H
     4,000   4,285
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H
     1,500   7,336
Shanghai International Airport Co., Ltd. Class A (a)
     700   5,425
Shanghai Putailai New Energy Technology Co., Ltd. Class A
     400   8,856
Shanxi Meijin Energy Co., Ltd. Class A (a)
     2,500   5,045
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A
     280   11,243
Shenghe Resources Holding Co., Ltd. Class A
     1,300   3,475
Shenzhen Capchem Technology Co., Ltd. Class A
     500   6,423
Shenzhen International Holdings, Ltd.
     27,693   29,279
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A
     100   4,840
Shenzhen Senior Technology Material Co., Ltd. Class A
     1,400   8,332
Shenzhou International Group Holdings, Ltd.
     1,300   17,397
Security Description     Shares   Value
Sichuan Chuantou Energy Co., Ltd. Class A
     8,300   $ 14,042
Sichuan Hebang Biotechnology Co., Ltd. Class A (a)
     19,700   10,893
Sichuan New Energy Power Co., Ltd. (a)
     2,700   8,285
Sichuan Yahua Industrial Group Co., Ltd. Class A
     2,200   10,002
Sinoma Science & Technology Co., Ltd. Class A
     1,200   4,590
Sinopharm Group Co., Ltd. Class H
     4,800   10,959
Smoore International Holdings, Ltd. (b)(c)
     4,000   9,602
Sunac China Holdings, Ltd. (b)
     11,000   6,433
Sunny Optical Technology Group Co., Ltd.
     800   12,882
Tencent Holdings, Ltd.
     9,884   472,277
Tencent Music Entertainment Group ADR (a)
     700   3,409
Tibet Summit Resources Co., Ltd. Class A (a)
     2,000   8,333
Trip.com Group, Ltd. ADR (a)
     1,277   29,524
Tsingtao Brewery Co., Ltd. Class H
     2,000   15,910
Vipshop Holdings, Ltd. ADR (a)
     738   6,642
Weichai Power Co., Ltd. Class A
     4,100   8,622
Weihai Guangwei Composites Co., Ltd. Class A
     700   6,501
Weimob, Inc. (a)(b)(c)
     5,000   3,294
Wharf Holdings, Ltd.
     2,000   6,104
Wuliangye Yibin Co., Ltd. Class A
     634   15,486
WuXi AppTec Co., Ltd. Class H (c)
     960   15,262
Wuxi Biologics Cayman, Inc. (a)(c)
     5,500   45,685
Xiaomi Corp. Class B (a)(c)
     25,600   45,568
Xinjiang Goldwind Science & Technology Co., Ltd. Class H
     6,000   9,056
Xinjiang Zhongtai Chemical Co., Ltd. Class A
     6,400   9,104
XPeng, Inc. ADR (a)
     658   18,154
Yantai Jereh Oilfield Services Group Co., Ltd. Class A
     2,400   15,936
Yihai International Holding, Ltd. (a)(b)
     1,000   2,873
Yintai Gold Co., Ltd. Class A
     8,380   12,290
YongXing Special Materials Technology Co., Ltd. Class A
     500   9,343
Yunnan Energy New Material Co., Ltd. Class A
     200   6,931
Yunnan Tin Co., Ltd. Class A (a)
     3,600   11,875
Zai Lab, Ltd. ADR (a)(b)
     151   6,641
Zhejiang Expressway Co., Ltd. Class H
     20,000   16,804
Zhejiang Huayou Cobalt Co., Ltd. Class A
     600   9,244
 
See accompanying notes to financial statements.
13

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Zhejiang Yongtai Technology Co., Ltd. Class A (a)
     1,100   $ 6,626
ZhongAn Online P&C Insurance Co., Ltd. Class H (a)(b)(c)
     1,800   6,137
Zhuzhou CRRC Times Electric Co., Ltd.
     1,400   5,497
Zibo Qixiang Tengda Chemical Co., Ltd. Class A
     6,300   8,455
Zijin Mining Group Co., Ltd. Class H
     14,000   21,559
Zoomlion Heavy Industry Science & Technology Co., Ltd. Class H (b)
     15,200   9,685
ZTE Corp. Class H
     3,200   6,546
ZTO Express Cayman, Inc. ADR
     586   14,650
          4,094,550
COLOMBIA — 0.1%          
Bancolombia SA
     1,731   20,005
Bancolombia SA Preference Shares
     2,138   22,959
Grupo de Inversiones Suramericana SA
     1,500   14,234
Interconexion Electrica SA ESP
     4,310   27,901
          85,099
CZECH REPUBLIC — 0.0% (f)          
Komercni banka A/S
     524   20,456
DENMARK — 0.6%          
Ambu A/S Class B
     305   4,562
Carlsberg A/S Class B
     100   12,415
Chr. Hansen Holding A/S
     233   17,311
Coloplast A/S Class B
     119   18,236
Danske Bank A/S
     1,195   20,127
DSV A/S
     73   14,201
Genmab A/S (a)
     107   39,453
GN Store Nord A/S
     161   8,012
Novo Nordisk A/S Class B
     2,878   322,397
Novozymes A/S Class B
     567   39,268
Orsted A/S (c)
     576   73,166
Pandora A/S
     205   19,858
Vestas Wind Systems A/S
     1,947   58,174
          647,180
EGYPT — 0.0% (f)          
Eastern Co SAE
     38,409   25,235
FINLAND — 0.3%          
Kesko Oyj Class B
     466   12,968
Kone Oyj Class B
     465   24,622
Neste Oyj
     2,436   112,428
Nokia Oyj (a)(d)
     1,312   7,278
Nokia Oyj (a)(d)
     7,743   42,865
Nordea Bank Abp (b)(d)
     4,865   50,793
Nordea Bank Abp (d)
     134   1,399
Sampo Oyj Class A
     747   36,886
Wartsila OYJ Abp (b)
     1,157   10,693
          299,932
Security Description     Shares   Value
FRANCE — 2.3%          
Adevinta ASA (a)
     1,076   $ 9,950
Aeroports de Paris (a)
     220   33,291
Airbus SE (a)
     1,071   131,510
Alstom SA
     622   14,720
AXA SA
     4,496   132,891
BNP Paribas SA
     1,858   107,355
Bollore SE
     36   191
Bureau Veritas SA
     796   22,974
Capgemini SE
     280   63,087
Carrefour SA
     905   19,782
CNP Assurances
     788   19,114
Covivio REIT
     163   13,084
Credit Agricole SA
     732   8,866
Danone SA
     1,193   66,409
Dassault Aviation SA
     100   15,989
Dassault Systemes SE
     830   41,294
Edenred
     695   34,736
Eiffage SA
     285   29,567
EssilorLuxottica SA
     570   105,469
Gecina SA REIT
     153   19,458
Getlink SE
     1,591   28,934
Hermes International
     55   79,034
Ipsen SA
     107   13,489
Kering SA
     139   89,037
Klepierre SA REIT (a)
     837   22,519
Legrand SA
     543   52,188
L'Oreal SA
     523   211,730
LVMH Moet Hennessy Louis Vuitton SE
     497   359,110
Orange SA
     3,779   45,007
Orpea SA
     78   3,418
Pernod Ricard SA
     468   103,780
Publicis Groupe SA
     623   38,305
Remy Cointreau SA
     33   6,866
Renault SA (a)
     514   13,654
Safran SA
     602   71,844
Sanofi
     2,035   209,465
Sartorius Stedim Biotech
     22   9,118
Societe Generale SA
     1,437   39,109
Sodexo SA
     295   24,224
Teleperformance
     93   35,834
Thales SA
     294   37,275
Ubisoft Entertainment SA (a)
     87   3,867
Unibail-Rodamco-Westfield CDI (a)
     331   1,253
Unibail-Rodamco-Westfield REIT (a)
     349   26,475
Vinci SA
     1,390   143,817
Vivendi SE
     1,803   23,752
Worldline SA (a)(c)
     375   16,475
          2,599,316
GERMANY — 1.8%          
adidas AG
     334   78,747
Allianz SE
     897   216,127
Aroundtown SA
     1,451   8,385
 
See accompanying notes to financial statements.
14

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Bayer AG
     1,724   $ 119,121
Bayerische Motoren Werke AG
     949   82,994
Beiersdorf AG
     190   20,126
Brenntag SE
     81   6,610
Carl Zeiss Meditec AG
     83   13,571
Daimler Truck Holding AG (a)
     964   27,062
Deutsche Bank AG (a)
     3,511   44,964
Deutsche Boerse AG
     296   53,683
Deutsche Post AG
     1,397   67,693
Deutsche Telekom AG
     6,406   120,685
Fresenius Medical Care AG & Co. KGaA
     161   10,884
Fresenius SE & Co. KGaA
     564   20,925
GEA Group AG
     406   16,854
Hannover Rueck SE
     51   8,759
HelloFresh SE (a)
     387   17,637
Henkel AG & Co. KGaA Preference Shares
     568   38,349
Henkel AG & Co. KGaA
     192   12,807
Infineon Technologies AG
     2,363   81,466
Mercedes-Benz Group AG
     1,929   136,956
Merck KGaA
     227   47,951
MTU Aero Engines AG
     83   19,458
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
     298   80,571
Puma SE
     90   7,755
SAP SE
     1,860   209,271
Sartorius AG Preference Shares
     37   16,537
Siemens AG
     1,540   215,316
Siemens Energy AG (a)
     1,116   25,728
Siemens Healthineers AG (c)
     427   26,720
Symrise AG
     286   34,638
Telefonica Deutschland Holding AG
     1,400   3,846
Volkswagen AG
     36   9,060
Volkswagen AG Preference Shares
     462   80,705
Vonovia SE
     1,059   49,854
Zalando SE (a)(c)
     262   13,410
          2,045,225
GREECE — 0.0% (f)          
Alpha Services & Holdings SA (a)
     8,750   10,865
OPAP SA
     832   12,220
          23,085
HONG KONG — 0.6%          
AIA Group, Ltd.
     19,200   202,140
CK Asset Holdings, Ltd.
     4,280   29,348
Henderson Land Development Co., Ltd.
     2,632   10,956
Hong Kong Exchanges & Clearing, Ltd.
     2,033   96,414
Hongkong Land Holdings, Ltd.
     3,600   17,640
Huabao International Holdings, Ltd. (b)
     4,000   2,232
Security Description     Shares   Value
Jardine Matheson Holdings, Ltd.
     400   $ 22,000
Link REIT
     5,624   48,115
Melco Resorts & Entertainment, Ltd. ADR (a)
     744   5,684
Power Assets Holdings, Ltd.
     8,500   55,408
Sino Biopharmaceutical, Ltd.
     18,750   11,708
Sino Land Co., Ltd.
     15,821   20,525
Sun Hung Kai Properties, Ltd.
     3,500   41,832
Techtronic Industries Co., Ltd.
     2,500   40,510
Wharf Real Estate Investment Co., Ltd. (b)
     5,000   24,804
          629,316
INDIA — 1.3%          
Adani Enterprises, Ltd.
     1,180   31,375
Adani Green Energy, Ltd. (a)
     1,098   27,745
Adani Ports & Special Economic Zone, Ltd.
     2,340   23,908
Adani Total Gas, Ltd.
     890   25,250
Adani Transmission, Ltd. (a)
     501   15,657
Apollo Hospitals Enterprise, Ltd.
     141   8,403
Asian Paints, Ltd.
     1,290   52,433
Avenue Supermarts, Ltd. (a)(c)
     484   25,571
Axis Bank, Ltd. (a)
     3,584   36,001
Bajaj Finance, Ltd.
     212   20,312
Bajaj Finserv, Ltd.
     65   14,634
Bandhan Bank, Ltd. (c)
     2,710   10,994
Berger Paints India, Ltd.
     921   8,504
Bharat Electronics, Ltd.
     3,778   10,510
Bharti Airtel, Ltd. (a)
     5,221   52,017
Britannia Industries, Ltd.
     272   11,510
Container Corp. Of India, Ltd.
     1,242   11,017
Divi's Laboratories, Ltd.
     178   10,341
DLF, Ltd.
     3,321   16,674
Eicher Motors, Ltd.
     109   3,535
Godrej Consumer Products, Ltd. (a)
     610   6,016
Godrej Properties, Ltd. (a)
     357   7,878
HCL Technologies, Ltd.
     2,324   35,692
Hero MotoCorp, Ltd.
     252   7,630
Hindustan Unilever, Ltd.
     1,634   44,177
Housing Development Finance Corp., Ltd.
     2,219   70,001
ICICI Bank, Ltd. ADR
     4,102   77,692
ICICI Bank, Ltd.
     1,134   10,929
Indian Railway Catering & Tourism Corp., Ltd.
     910   9,304
Indraprastha Gas, Ltd.
     1,450   7,140
Indus Towers, Ltd. (a)
     1,742   5,105
Info Edge India, Ltd.
     122   7,260
Infosys, Ltd. ADR (b)
     6,340   157,803
ITC, Ltd.
     10,078   33,336
Kotak Mahindra Bank, Ltd.
     658   15,230
Larsen & Toubro Infotech, Ltd. (c)
     113   9,179
Larsen & Toubro, Ltd. GDR
     1,085   25,280
Mahindra & Mahindra, Ltd. GDR
     456   5,062
 
See accompanying notes to financial statements.
15

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Marico, Ltd.
     2,042   $ 13,574
Maruti Suzuki India, Ltd.
     205   20,456
Motherson Sumi Systems, Ltd.
     2,967   5,460
Motherson Sumi Wiring India, Ltd. (a)
     540   459
Nestle India, Ltd.
     63   14,450
Petronet LNG, Ltd.
     19,378   49,548
PI Industries, Ltd.
     661   24,596
Pidilite Industries, Ltd.
     368   11,919
Piramal Enterprises, Ltd.
     466   13,449
Power Grid Corp. of India, Ltd.
     951   2,721
Reliance Industries, Ltd.
     2,986   103,825
State Bank of India
     2,379   15,495
Sun Pharmaceutical Industries, Ltd.
     1,732   20,909
Tata Consultancy Services, Ltd.
     1,784   88,051
Tata Consumer Products, Ltd.
     1,853   19,011
Tata Motors, Ltd. (a)
     5,066   28,999
Tech Mahindra, Ltd.
     1,553   30,731
Titan Co., Ltd.
     297   9,940
United Spirits, Ltd. (a)
     1,326   15,545
UPL, Ltd.
     934   9,486
Wipro, Ltd. ADR
     3,225   24,865
          1,474,594
INDONESIA — 0.3%          
Astra International Tbk PT
     85,100   38,958
Bank Central Asia Tbk PT
     77,000   42,755
Bank Mandiri Persero Tbk PT
     42,200   23,212
Bank Negara Indonesia Persero Tbk PT
     32,300   18,553
Bank Rakyat Indonesia Persero Tbk PT
     124,119   40,271
Barito Pacific Tbk PT
     113,700   7,164
Charoen Pokphand Indonesia Tbk PT
     28,600   11,251
Gudang Garam Tbk PT
     6,200   13,641
Indofood CBP Sukses Makmur Tbk PT
     1,600   819
Kalbe Farma Tbk PT
     90,000   10,089
Merdeka Copper Gold Tbk PT (a)
     86,400   27,251
Sarana Menara Nusantara Tbk PT
     122,800   9,149
Telkom Indonesia Persero Tbk PT
     201,700   64,319
Unilever Indonesia Tbk PT
     29,800   7,594
          315,026
IRELAND — 0.1%          
Flutter Entertainment PLC (a)(b)(d)
     148   17,291
Flutter Entertainment PLC (a)(d)
     200   23,384
Kerry Group PLC Class A
     197   22,160
Kingspan Group PLC
     413   40,916
          103,751
Security Description     Shares   Value
ISRAEL — 0.4%          
Azrieli Group, Ltd.
     413   $ 36,470
Bank Hapoalim BM
     5,947   59,167
Bank Leumi Le-Israel BM
     5,518   59,724
Check Point Software Technologies, Ltd. (a)
     331   45,764
Elbit Systems, Ltd.
     181   39,702
Israel Discount Bank, Ltd. Class A
     9,038   56,529
Kornit Digital, Ltd. (a)
     100   8,269
Mizrahi Tefahot Bank, Ltd.
     935   36,682
Nice, Ltd. (a)
     188   41,291
Teva Pharmaceutical Industries, Ltd. ADR (a)
     628   5,897
Teva Pharmaceutical Industries, Ltd. (a)
     2,001   18,660
Wix.com, Ltd. (a)
     51   5,328
          413,483
ITALY — 0.5%          
Amplifon SpA (b)
     319   14,389
Assicurazioni Generali SpA (b)
     3,447   79,659
Atlantia SpA (a)
     1,785   37,537
Coca-Cola HBC AG (a)
     235   4,949
Davide Campari-Milano NV
     1,403   16,477
DiaSorin SpA (b)
     43   6,789
Ferrari NV
     255   56,376
Intesa Sanpaolo SpA
     38,882   90,137
Mediobanca Banca di Credito Finanziario SpA
     1,562   16,024
Moncler SpA
     341   19,251
Nexi SpA (a)(c)
     1,228   14,347
Poste Italiane SpA (c)
     3,452   39,638
Snam SpA
     15,020   87,437
Telecom Italia SpA (a)(b)
     18,392   6,825
Terna - Rete Elettrica Nazionale (b)
     5,647   48,921
UniCredit SpA
     3,811   41,788
          580,544
JAPAN — 5.5%          
Advantest Corp. (b)
     300   23,901
Asahi Group Holdings, Ltd.
     1,000   36,754
Asahi Intecc Co., Ltd.
     300   5,947
Astellas Pharma, Inc.
     3,900   61,404
Bandai Namco Holdings, Inc. (b)
     200   15,311
Brother Industries, Ltd. (b)
     800   14,744
Canon, Inc. (b)
     2,600   64,114
Central Japan Railway Co.
     300   39,460
Chiba Bank, Ltd. (b)
     1,100   6,571
Chugai Pharmaceutical Co., Ltd.
     1,200   40,506
Concordia Financial Group, Ltd.
     6,100   23,018
CyberAgent, Inc.
     800   10,058
Daifuku Co., Ltd.
     200   14,484
Dai-ichi Life Holdings, Inc.
     2,200   45,296
Daiichi Sankyo Co., Ltd.
     3,000   66,241
Daikin Industries, Ltd.
     500   92,317
 
See accompanying notes to financial statements.
16

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Daito Trust Construction Co., Ltd.
     200   $ 21,405
Daiwa House Industry Co., Ltd.
     1,300   34,285
Daiwa Securities Group, Inc. (b)
     4,300   24,541
Denso Corp.
     800   51,806
Dentsu Group, Inc.
     600   24,816
East Japan Railway Co.
     300   17,574
Eisai Co., Ltd. (b)
     600   28,029
FANUC Corp.
     400   71,333
Fast Retailing Co., Ltd.
     100   51,897
FUJIFILM Holdings Corp.
     600   37,085
Fujitsu, Ltd.
     300   45,516
GMO Payment Gateway, Inc.
     100   10,365
Hitachi, Ltd.
     1,700   86,348
Honda Motor Co., Ltd.
     1,800   51,712
Hoshizaki Corp.
     100   6,929
Hoya Corp.
     700   80,915
Hulic Co., Ltd.
     1,100   9,978
Iida Group Holdings Co., Ltd. (b)
     1,000   17,425
Isuzu Motors, Ltd.
     1,500   19,625
ITOCHU Corp.
     2,800   95,598
Japan Exchange Group, Inc.
     300   5,650
Japan Metropolitan Fund Invest REIT
     10   8,486
Japan Post Bank Co., Ltd. (b)
     1,200   9,738
Japan Post Holdings Co., Ltd.
     8,232   60,932
Japan Post Insurance Co., Ltd.
     2,000   35,197
Japan Tobacco, Inc.
     3,700   63,635
Kajima Corp.
     2,600   31,939
Kao Corp.
     800   33,120
KDDI Corp.
     3,400   112,190
Keisei Electric Railway Co., Ltd.
     300   8,441
Keyence Corp.
     300   141,504
Kikkoman Corp.
     400   26,793
Kobe Bussan Co., Ltd. (b)
     300   9,331
Koito Manufacturing Co., Ltd.
     100   4,099
Komatsu, Ltd.
     1,700   41,220
Konami Holdings Corp. (b)
     300   19,156
Kose Corp.
     100   10,620
Kubota Corp.
     2,000   37,949
Kurita Water Industries, Ltd.
     200   7,489
Kyocera Corp.
     400   22,680
Kyowa Kirin Co., Ltd.
     500   11,732
Lasertec Corp.
     100   17,125
Lawson, Inc.
     600   23,110
M3, Inc. (b)
     700   25,774
Makita Corp.
     600   19,452
Marubeni Corp.
     9,000   105,738
Medipal Holdings Corp.
     200   3,320
Mercari, Inc. (a)
     200   5,314
MISUMI Group, Inc.
     400   12,078
Mitsubishi Electric Corp.
     3,800   44,144
Mitsubishi Estate Co., Ltd.
     2,000   29,973
Mitsubishi HC Capital, Inc.
     6,900   32,404
Mitsubishi UFJ Financial Group, Inc.
     25,300   158,481
Security Description     Shares   Value
Mitsui & Co., Ltd.
     11,100   $ 304,353
Mitsui Fudosan Co., Ltd.
     2,000   43,172
Mizuho Financial Group, Inc.
     5,370   69,329
MonotaRO Co., Ltd.
     400   8,681
MS&AD Insurance Group Holdings, Inc.
     1,000   32,774
Murata Manufacturing Co., Ltd.
     800   53,500
NEC Corp.
     700   29,701
Nexon Co., Ltd.
     800   19,325
Nidec Corp.
     800   64,250
Nintendo Co., Ltd.
     200   101,619
Nippon Building Fund, Inc. REIT
     2   11,403
Nippon Paint Holdings Co., Ltd.
     2,300   20,503
Nippon Telegraph & Telephone Corp.
     2,400   70,097
Nissan Chemical Corp.
     400   23,827
Nitori Holdings Co., Ltd.
     100   12,655
Nitto Denko Corp.
     200   14,533
Nomura Holdings, Inc.
     8,000   33,958
Nomura Research Institute, Ltd.
     700   23,184
NTT Data Corp.
     1,900   37,851
Obayashi Corp. (b)
     2,800   20,762
Obic Co., Ltd.
     100   15,176
Olympus Corp.
     2,400   46,250
Omron Corp.
     400   27,070
Ono Pharmaceutical Co., Ltd.
     600   15,156
Oracle Corp. Japan
     100   7,003
Oriental Land Co., Ltd.
     400   77,479
ORIX Corp.
     2,400   48,395
Otsuka Holdings Co., Ltd.
     200   6,973
Pan Pacific International Holdings Corp.
     300   4,854
Panasonic Corp.
     2,300   22,522
Persol Holdings Co., Ltd.
     600   13,663
Pola Orbis Holdings, Inc.
     600   7,904
Rakuten Group, Inc.
     2,000   15,934
Recruit Holdings Co., Ltd.
     2,500   111,514
Renesas Electronics Corp. (a)
     1,900   22,416
Resona Holdings, Inc.
     9,900   42,748
Ricoh Co., Ltd.
     1,800   15,750
Ryohin Keikaku Co., Ltd.
     500   5,895
Santen Pharmaceutical Co., Ltd.
     800   8,087
SBI Holdings, Inc.
     900   22,987
Secom Co., Ltd.
     600   43,838
Seiko Epson Corp. (b)
     900   13,651
Sekisui House, Ltd.
     1,800   35,162
Seven & i Holdings Co., Ltd.
     900   43,104
SG Holdings Co., Ltd.
     500   9,524
Shimadzu Corp.
     600   20,935
Shimano, Inc.
     100   23,197
Shimizu Corp. (b)
     2,700   16,350
Shin-Etsu Chemical Co., Ltd.
     700   108,367
Shionogi & Co., Ltd.
     400   24,816
Shiseido Co., Ltd.
     1,000   51,230
Shizuoka Bank, Ltd. (b)
     2,500   17,775
SMC Corp.
     100   56,717
 
See accompanying notes to financial statements.
17

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Softbank Corp.
     3,300   $ 38,825
SoftBank Group Corp.
     2,300   105,340
Sohgo Security Services Co., Ltd.
     300   9,887
Sompo Holdings, Inc.
     700   31,034
Sony Group Corp.
     2,300   241,228
Subaru Corp.
     700   11,235
Sumitomo Corp.
     3,400   59,358
Sumitomo Dainippon Pharma Co., Ltd. (b)
     900   8,957
Sumitomo Mitsui Financial Group, Inc.
     3,000   96,568
Sumitomo Mitsui Trust Holdings, Inc. (b)
     600   19,778
Sumitomo Realty & Development Co., Ltd.
     600   16,753
Suzuki Motor Corp.
     400   13,884
Sysmex Corp.
     300   22,055
T&D Holdings, Inc.
     800   11,014
Taisei Corp.
     200   5,825
Takeda Pharmaceutical Co., Ltd.
     3,520   101,446
Terumo Corp.
     1,000   30,682
Tokio Marine Holdings, Inc.
     1,000   58,727
Tokyo Century Corp.
     400   14,880
Tokyo Electron, Ltd.
     300   156,334
Tokyu Corp.
     1,000   13,116
Toshiba Corp.
     700   26,818
TOTO, Ltd.
     300   12,210
Toyota Industries Corp.
     200   13,957
Toyota Motor Corp.
     18,500   338,754
Toyota Tsusho Corp.
     1,000   41,689
Trend Micro, Inc.
     200   11,798
Unicharm Corp.
     600   21,548
Welcia Holdings Co., Ltd.
     200   4,952
Yakult Honsha Co., Ltd. (b)
     400   21,487
Yamaha Corp.
     200   8,816
Yaskawa Electric Corp.
     600   23,802
Yokogawa Electric Corp.
     1,100   19,023
Z Holdings Corp.
     4,600   20,329
ZOZO, Inc.
     200   5,413
          6,161,563
KUWAIT — 0.1%          
Agility Public Warehousing Co. KSC
     9,744   35,441
Kuwait Finance House KSCP
     6,300   22,210
Mobile Telecommunications Co. KSCP
     10,029   20,731
National Bank of Kuwait SAKP
     19,460   70,397
          148,779
LUXEMBOURG — 0.0% (f)          
Eurofins Scientific SE
     220   22,009
Reinet Investments SCA
     496   11,125
          33,134
Security Description     Shares   Value
MACAU — 0.0% (f)          
Galaxy Entertainment Group, Ltd.
     3,000   $ 18,004
Sands China, Ltd. (a)
     6,400   15,511
          33,515
MALAYSIA — 0.2%          
Dialog Group Bhd
     119,300   77,741
Genting Malaysia Bhd
     17,700   12,544
Hartalega Holdings Bhd
     3,300   3,806
Malayan Banking Bhd
     7,298   15,517
Petronas Dagangan Bhd
     10,600   51,478
Public Bank Bhd
     30,300   33,653
          194,739
MEXICO — 0.2%          
America Movil SAB de CV Series L (b)
     42,824   45,354
Coca-Cola Femsa SAB de CV
     2,801   15,384
Fibra Uno Administracion SA de CV REIT
     6,750   7,887
Fomento Economico Mexicano SAB de CV
     4,701   38,981
Grupo Aeroportuario del Pacifico SAB de CV Class B (a)
     1,536   24,848
Grupo Aeroportuario del Sureste SAB de CV Class B
     979   21,793
Grupo Financiero Banorte SAB de CV Series O
     4,372   32,787
Grupo Mexico SAB de CV Class B
     3,800   22,676
Grupo Televisa SAB Series CPO
     3,900   9,145
Promotora y Operadora de Infraestructura SAB de CV
     976   7,712
Wal-Mart de Mexico SAB de CV
     10,719   44,033
          270,600
NETHERLANDS — 0.9%          
Adyen NV (a)(c)
     31   62,396
Aegon NV
     5,072   27,099
Akzo Nobel NV
     397   34,551
Argenx SE (a)
     78   24,517
ASM International NV
     56   20,693
ASML Holding NV
     723   490,712
Heineken NV
     342   32,946
ING Groep NV
     6,311   66,786
Koninklijke Ahold Delhaize NV
     387   12,537
Koninklijke DSM NV (b)
     372   67,260
Koninklijke KPN NV
     3,510   12,275
Koninklijke Philips NV
     1,764   54,426
NN Group NV
     632   32,249
Randstad NV (b)
     282   17,144
Wolters Kluwer NV
     167   17,946
          973,537
NEW ZEALAND — 0.0% (f)          
Fisher & Paykel Healthcare Corp., Ltd.
     450   7,621
 
See accompanying notes to financial statements.
18

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Meridian Energy, Ltd.
     7,394   $ 25,972
Xero, Ltd. (a)
     222   17,130
          50,723
NORWAY — 0.4%          
DNB Bank ASA
     4,344   99,409
Gjensidige Forsikring ASA (b)
     3,435   85,914
Mowi ASA
     2,542   69,190
Orkla ASA
     6,683   59,890
Schibsted ASA Class A
     729   18,184
Telenor ASA
     6,827   98,962
          431,549
PERU — 0.1%          
Southern Copper Corp.
     1,239   94,040
PHILIPPINES — 0.1%          
Ayala Land, Inc.
     15,480   10,486
Bank of the Philippine Islands
     5,540   10,663
BDO Unibank, Inc.
     6,280   16,105
International Container Terminal Services, Inc.
     6,000   26,066
Metro Pacific Investments Corp.
     124,000   9,106
Monde Nissin Corp. (a)(c)
     28,700   7,599
SM Prime Holdings, Inc.
     17,000   12,435
          92,460
POLAND — 0.1%          
Allegro.eu SA (a)(c)
     661   5,642
Bank Polska Kasa Opieki SA
     683   18,504
CD Projekt SA
     206   8,588
Dino Polska SA (a)(c)
     125   10,214
InPost SA (a)(b)
     849   5,441
LPP SA
     1   2,752
mBank SA (a)
     84   7,120
Powszechna Kasa Oszczednosci Bank Polski SA (a)
     1,634   15,621
Powszechny Zaklad Ubezpieczen SA
     2,301   18,691
          92,573
PORTUGAL — 0.0% (f)          
Jeronimo Martins SGPS SA
     883   21,349
QATAR — 0.1%          
Barwa Real Estate Co.
     26,939   25,891
Industries Qatar QSC
     9,805   51,155
Mesaieed Petrochemical Holding Co.
     77,170   61,664
Qatar National Bank QPSC
     4,058   25,707
          164,417
ROMANIA — 0.0% (f)          
NEPI Rockcastle PLC
     2,089   13,877
RUSSIA — 0.0% (f)          
Alrosa PJSC (a)(e)
     15,622   —
Magnit PJSC GDR (e)
     1,362   —
Mobile TeleSystems PJSC ADR (e)
     3,579   —
Security Description     Shares   Value
Moscow Exchange MICEX (a)(e)
     29,855   $ —
Ozon Holdings PLC ADR (a)(e)
     328   —
Polyus PJSC GDR (e)
     234   —
Sberbank of Russia PJSC ADR (e)
     8,003   —
TCS Group Holding PLC GDR (a)(e)
     275   —
United Co. RUSAL International PJSC (a)(e)
     46,750   —
VK Co., Ltd. GDR (a)(e)
     1,325   —
VTB Bank PJSC GDR (e)
     6,489   —
Yandex NV Class A (a)(e)
     733   —
          —
SAUDI ARABIA — 0.6%          
Abdullah Al Othaim Markets Co.
     262   8,171
Al Rajhi Bank
     2,296   98,291
Arab National Bank
     3,834   28,411
Bank Al-Jazira
     2,029   14,251
Banque Saudi Fransi
     2,301   32,937
Dar Al Arkan Real Estate Development Co. (a)
     12,579   36,682
Delivery Hero SE (a)(c)
     304   13,483
Dr Sulaiman Al Habib Medical Services Group Co.
     253   12,841
Emaar Economic City (a)
     8,387   26,112
Etihad Etisalat Co.
     2,188   24,204
Mobile Telecommunications Co. (a)
     2,940   10,439
Riyad Bank
     4,278   42,820
SABIC Agri-Nutrients Co.
     1,701   82,432
Saudi Arabian Mining Co. (a)
     943   33,683
Saudi British Bank
     2,189   23,223
Saudi National Bank
     6,004   113,470
Saudi Telecom Co.
     2,548   73,217
Yanbu National Petrochemical Co.
     1,893   33,758
          708,425
SINGAPORE — 0.3%          
Ascendas Real Estate Investment Trust
     4,600   9,959
BOC Aviation, Ltd. (c)
     1,300   10,284
CapitaLand Integrated Commercial Trust REIT
     11,100   18,454
City Developments, Ltd.
     2,932   17,050
DBS Group Holdings, Ltd.
     2,492   65,976
Genting Singapore, Ltd.
     26,700   16,079
Keppel Corp., Ltd.
     4,000   18,975
Oversea-Chinese Banking Corp., Ltd.
     6,251   57,182
Singapore Exchange, Ltd.
     1,900   13,997
Singapore Telecommunications, Ltd.
     31,629   61,699
STMicroelectronics NV
     1,076   47,398
United Overseas Bank, Ltd.
     1,154   27,304
 
See accompanying notes to financial statements.
19

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
UOL Group, Ltd.
     992   $ 5,160
          369,517
SOUTH AFRICA — 0.4%          
Absa Group, Ltd.
     1,120   14,597
Anglo American Platinum, Ltd.
     127   17,439
Aspen Pharmacare Holdings, Ltd.
     467   6,348
Bid Corp., Ltd.
     351   7,639
Capitec Bank Holdings, Ltd.
     96   15,383
Discovery, Ltd. (a)
     1,658   20,670
FirstRand, Ltd.
     10,641   56,415
Gold Fields, Ltd.
     1,087   16,964
Growthpoint Properties, Ltd. REIT
     15,888   16,005
Kumba Iron Ore, Ltd.
     365   16,370
MTN Group, Ltd.
     3,285   42,714
Naspers, Ltd. Class N
     403   45,895
Nedbank Group, Ltd.
     1,487   23,718
Northam Platinum Holdings, Ltd. (a)
     2,254   33,639
Old Mutual, Ltd. (b)
     15,899   14,810
Sanlam, Ltd.
     5,709   28,208
Standard Bank Group, Ltd. (b)
     3,364   41,931
          418,745
SOUTH KOREA — 1.5%          
Alteogen, Inc. (a)
     132   6,164
Amorepacific Corp.
     157   20,725
AMOREPACIFIC Group
     217   7,860
BGF retail Co., Ltd.
     64   9,214
Celltrion Healthcare Co., Ltd.
     109   5,845
Celltrion Pharm, Inc. (a)
     27   2,179
Celltrion, Inc.
     183   25,894
Cheil Worldwide, Inc.
     476   9,249
CJ ENM Co., Ltd.
     118   12,793
Coway Co., Ltd.
     190   10,738
DB Insurance Co., Ltd.
     214   12,342
Doosan Bobcat, Inc.
     233   7,468
Doosan Heavy Industries & Construction Co., Ltd. (a)
     1,104   18,627
Ecopro BM Co., Ltd.
     25   8,203
F&F Co., Ltd.
     14   8,605
GS Engineering & Construction Corp.
     439   16,806
Hana Financial Group, Inc.
     620   24,860
HLB, Inc. (a)
     194   4,906
Hotel Shilla Co., Ltd.
     162   10,853
HYBE Co., Ltd. (a)
     32   8,171
Hyundai Heavy Industries Holdings Co., Ltd.
     732   32,492
Hyundai Mobis Co., Ltd.
     162   28,736
Hyundai Motor Co.
     182   27,104
Hyundai Motor Co. Preference Shares
     216   15,433
Industrial Bank of Korea
     1,170   10,474
Kakao Corp.
     580   50,963
Security Description     Shares   Value
Kakao Games Corp. (a)
     117   $ 7,558
KakaoBank Corp. (a)
     175   7,450
Kangwon Land, Inc. (a)
     478   10,983
KB Financial Group, Inc.
     729   36,869
Kia Corp.
     464   28,329
Korea Aerospace Industries, Ltd.
     358   12,494
Korea Investment Holdings Co., Ltd.
     109   7,051
Krafton, Inc. (a)
     35   7,955
KT&G Corp.
     707   47,073
L&F Co., Ltd. (a)
     60   11,178
LG Chem, Ltd.
     31   13,607
LG Chem, Ltd. Preference Shares
     25   5,631
LG Electronics, Inc.
     226   22,469
LG Household & Health Care, Ltd.
     15   10,618
LG Household & Health Care, Ltd. Preference Shares
     19   7,948
NAVER Corp.
     206   57,871
NCSoft Corp.
     28   10,800
Netmarble Corp. (c)
     62   5,704
NH Investment & Securities Co., Ltd.
     1,329   12,500
Orion Corp/Republic of Korea
     74   5,422
Pearl Abyss Corp. (a)
     90   7,388
S-1 Corp.
     92   5,412
Samsung Biologics Co., Ltd. (a)(c)
     38   25,928
Samsung C&T Corp.
     186   17,494
Samsung Electronics Co., Ltd. Preference Shares
     1,475   76,668
Samsung Electronics Co., Ltd.
     8,079   463,923
Samsung Engineering Co., Ltd. (a)
     879   19,001
Samsung Fire & Marine Insurance Co., Ltd.
     96   17,346
Samsung Life Insurance Co., Ltd.
     142   7,721
Samsung SDI Co., Ltd.
     110   54,090
Samsung SDS Co., Ltd.
     105   11,998
Seegene, Inc.
     140   5,902
Shinhan Financial Group Co., Ltd.
     765   26,193
SK Bioscience Co., Ltd. (a)
     54   6,995
SK Hynix, Inc.
     971   94,532
SK IE Technology Co., Ltd. (a)(c)
     133   13,881
SK, Inc.
     332   66,288
Woori Financial Group, Inc.
     665   8,422
          1,655,396
SPAIN — 0.6%          
Aena SME SA (a)(c)
     305   51,260
Amadeus IT Group SA (a)
     1,051   69,205
Banco Bilbao Vizcaya Argentaria SA (b)
     12,206   70,757
Banco Santander SA (d)
     30,921   106,653
 
See accompanying notes to financial statements.
20

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Banco Santander SA (d)
     1,959   $ 6,444
CaixaBank SA (b)
     5,893   20,176
Cellnex Telecom SA (c)
     702   34,141
Enagas SA
     6,111   137,008
Ferrovial SA
     1,441   38,688
Grifols SA (b)
     332   6,088
Industria de Diseno Textil SA
     2,198   48,374
Red Electrica Corp. SA
     2,151   44,540
Siemens Gamesa Renewable Energy SA (a)(b)
     501   8,905
Telefonica SA
     12,700   62,012
          704,251
SWEDEN — 0.8%          
Alfa Laval AB
     709   24,748
Assa Abloy AB Class B
     2,010   54,977
Atlas Copco AB Class A
     226   11,924
Atlas Copco AB Class B
     1,596   73,554
Boliden AB
     1,904   97,678
Embracer Group AB (a)(b)
     840   7,155
Epiroc AB Class A
     1,171   25,407
EQT AB
     537   21,441
Evolution AB (c)
     317   32,930
Fastighets AB Balder Class B (a)
     162   10,802
Getinge AB Class B
     336   13,592
H & M Hennes & Mauritz AB Class B (b)
     1,043   14,122
Hexagon AB Class B
     3,157   44,970
Husqvarna AB Class B (b)
     1,264   13,381
Industrivarden AB Class A
     13   375
Industrivarden AB Class C
     889   25,174
Investment AB Latour Class B
     271   8,753
Investor AB Class B
     5,348   118,300
Kinnevik AB Class B (a)
     587   15,589
Lifco AB Class B
     361   9,332
Nibe Industrier AB Class B
     3,264   36,792
Sandvik AB
     2,191   47,255
Sinch AB (a)(b)(c)
     750   5,188
Skandinaviska Enskilda Banken AB Class A (b)
     1,218   13,390
Skanska AB Class B (b)
     964   21,867
Svenska Cellulosa AB SCA Class B (b)
     1,262   24,842
Svenska Handelsbanken AB Class A (b)
     919   8,569
Swedish Match AB
     1,953   14,854
Tele2 AB Class B
     512   7,818
Telefonaktiebolaget LM Ericsson Class B (b)
     5,079   47,033
Telia Co. AB (b)
     7,492   30,340
Volvo AB Class B (b)
     3,474   65,831
          947,983
SWITZERLAND — 2.5%          
ABB, Ltd.
     2,927   95,960
Adecco Group AG (a)
     487   22,232
Alcon, Inc.
     753   60,306
Security Description     Shares   Value
Chocoladefabriken Lindt & Spruengli AG
     2   $ 23,950
Cie Financiere Richemont SA
     994   127,457
Credit Suisse Group AG (a)
     4,481   35,741
Geberit AG
     83   51,608
Givaudan SA
     24   99,808
Julius Baer Group, Ltd.
     276   16,160
Kuehne + Nagel International AG
     65   18,584
Logitech International SA
     279   20,980
Lonza Group AG (a)
     80   58,436
Nestle SA
     4,990   651,777
Novartis AG
     3,767   332,593
Partners Group Holding AG
     26   32,590
Roche Holding AG
     1,222   486,609
Schindler Holding AG
     55   11,894
SGS SA
     11   30,792
Sika AG (b)
     388   129,607
Sonova Holding AG
     74   31,168
Straumann Holding AG
     16   25,845
Swatch Group AG
     470   25,741
Swiss Life Holding AG
     16   10,331
Swisscom AG
     34   20,505
TE Connectivity, Ltd.
     738   96,663
Temenos AG
     83   8,027
UBS Group AG
     6,326   124,733
VAT Group AG (c)
     39   15,019
Vifor Pharma AG (a)
     114   20,409
Zurich Insurance Group AG (a)
     230   114,169
          2,799,694
TAIWAN — 1.7%          
Accton Technology Corp.
     1,000   7,766
Acer, Inc.
     21,000   21,952
ASE Technology Holding Co., Ltd.
     3,000   10,837
Asustek Computer, Inc.
     2,000   26,072
Catcher Technology Co., Ltd.
     3,000   15,130
Cathay Financial Holding Co., Ltd.
     36,962   83,208
Chailease Holding Co., Ltd.
     2,518   22,278
China Development Financial Holding Corp.
     76,577   51,316
Chunghwa Telecom Co., Ltd.
     4,000   17,730
CTBC Financial Holding Co., Ltd.
     56,359   57,831
Delta Electronics, Inc.
     4,000   37,485
E.Sun Financial Holding Co., Ltd.
     16,977   19,583
Evergreen Marine Corp. Taiwan, Ltd. (a)
     2,000   9,424
First Financial Holding Co., Ltd.
     13,130   13,038
Fubon Financial Holding Co., Ltd.
     30,143   80,482
Giant Manufacturing Co., Ltd.
     1,000   9,092
Globalwafers Co., Ltd.
     1,000   23,419
Hiwin Technologies Corp.
     1,220   10,219
 
See accompanying notes to financial statements.
21

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Hon Hai Precision Industry Co., Ltd.
     6,656   $ 24,625
Hotai Motor Co., Ltd.
     1,000   20,871
MediaTek, Inc. (a)
     3,000   94,759
Mega Financial Holding Co., Ltd.
     1,922   2,878
Micro-Star International Co., Ltd.
     2,000   9,075
Nan Ya Printed Circuit Board Corp.
     1,000   18,289
Nanya Technology Corp.
     3,000   7,246
Novatek Microelectronics Corp.
     2,000   29,772
Oneness Biotech Co., Ltd. (a)
     1,000   7,487
Realtek Semiconductor Corp.
     1,000   15,025
Sea, Ltd. ADR (a)
     300   35,937
Shin Kong Financial Holding Co., Ltd.
     93,369   35,195
SinoPac Financial Holdings Co., Ltd.
     29,160   18,727
Taishin Financial Holding Co., Ltd.
     52,316   37,432
Taiwan Cooperative Financial Holding Co., Ltd.
     5,895   6,080
Taiwan Semiconductor Manufacturing Co., Ltd.
     43,000   895,974
Unimicron Technology Corp.
     2,000   17,381
Uni-President Enterprises Corp.
     17,000   38,923
United Microelectronics Corp.
     21,000   39,579
Winbond Electronics Corp.
     10,000   10,889
Yageo Corp.
     1,198   18,147
Yuanta Financial Holding Co., Ltd.
     37,555   34,604
          1,935,757
THAILAND — 0.2%          
Airports of Thailand PCL (a)
     22,600   45,030
Asset World Corp. PCL (a)
     80,200   12,301
Bangkok Commercial Asset Management PCL
     10,800   6,691
Bangkok Dusit Medical Services PCL NVDR
     14,600   10,977
Bangkok Dusit Medical Services PCL Class F
     17,600   13,233
Bangkok Expressway & Metro PCL
     41,000   10,728
Bangkok Expressway & Metro PCL NVDR
     45,000   11,775
BTS Group Holdings PCL
     35,700   9,878
Bumrungrad Hospital PCL
     2,500   11,767
Carabao Group PCL Class F
     2,500   8,120
Central Pattana PCL
     4,700   8,340
Central Retail Corp. PCL
     9,800   11,716
Delta Electronics Thailand PCL
     700   8,168
Intouch Holdings PCL Class F
     4,800   11,224
Krung Thai Bank PCL
     63,100   26,189
Land & Houses PCL
     79,200   22,629
Minor International PCL NVDR (a)
     9,103   9,171
Osotspa PCL
     6,100   6,880
Security Description     Shares   Value
Siam Commercial Bank PCL NVDR
     2,500   $ 8,571
Siam Commercial Bank PCL
     3,600   12,343
          265,731
TURKEY — 0.0% (f)          
Akbank T.A.S.
     29,364   14,534
Turkiye Garanti Bankasi A/S
     19,525   16,240
Turkiye Is Bankasi A/S Class C
     7,090   4,268
          35,042
UNITED ARAB EMIRATES — 0.2%          
Emaar Properties PJSC
     12,595   20,574
Emirates NBD Bank PJSC
     4,589   18,741
Emirates Telecommunications Group Co. PJSC
     7,698   77,461
First Abu Dhabi Bank PJSC
     8,554   54,961
          171,737
UNITED KINGDOM — 3.3%          
3i Group PLC
     2,906   53,127
Abrdn PLC
     7,366   20,842
Admiral Group PLC
     240   8,099
Ashtead Group PLC
     896   57,016
AstraZeneca PLC ADR
     747   49,556
AstraZeneca PLC
     2,301   306,960
Aviva PLC
     13,914   82,824
BAE Systems PLC
     2,295   21,678
Barclays PLC
     31,519   61,544
Barratt Developments PLC
     2,345   16,129
Berkeley Group Holdings PLC (a)
     314   15,462
British American Tobacco PLC ADR
     4,878   205,657
British Land Co. PLC REIT
     3,915   27,340
BT Group PLC
     13,465   32,302
Bunzl PLC
     829   32,396
Burberry Group PLC
     994   21,909
CNH Industrial NV
     1,819   29,134
Coca-Cola Europacific Partners PLC
     405   19,687
Compass Group PLC
     3,708   80,555
Croda International PLC
     418   43,368
DCC PLC
     290   22,627
Diageo PLC
     4,487   228,248
Entain PLC (a)
     1,134   24,539
Experian PLC
     1,888   73,357
Halma PLC
     293   9,683
Hargreaves Lansdown PLC
     297   3,942
HSBC Holdings PLC
     34,104   235,921
Imperial Brands PLC
     2,665   56,510
Informa PLC (a)
     2,955   23,414
Intertek Group PLC
     384   26,412
J Sainsbury PLC
     3,351   11,149
JD Sports Fashion PLC (a)
     6,065   11,838
Johnson Matthey PLC
     871   21,543
 
See accompanying notes to financial statements.
22

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Just Eat Takeaway.com NV (a)(b)(c)
     325   $ 11,121
Kingfisher PLC
     3,366   11,319
Land Securities Group PLC REIT
     3,707   38,344
Legal & General Group PLC
     16,983   60,821
Liberty Global PLC Class C (a)
     1,700   44,047
Linde PLC (a)
     398   127,133
Lloyds Banking Group PLC
     147,368   91,302
London Stock Exchange Group PLC
     552   57,896
M&G PLC
     7,936   23,113
National Grid PLC
     7,461   115,171
Natwest Group PLC
     7,921   22,517
Next PLC
     214   16,996
Ocado Group PLC (a)
     1,118   17,237
Pearson PLC
     1,574   15,556
Persimmon PLC
     780   22,091
Phoenix Group Holdings PLC
     962   7,777
Prudential PLC
     4,965   74,132
Reckitt Benckiser Group PLC
     1,431   109,882
RELX PLC (d)
     2,887   90,582
RELX PLC (d)
     1,182   37,140
Rentokil Initial PLC
     1,888   13,076
Rolls-Royce Holdings PLC (a)
     17,779   23,666
Sage Group PLC
     1,120   10,340
Segro PLC REIT
     2,168   38,407
Severn Trent PLC
     1,765   71,529
Smith & Nephew PLC
     1,896   30,456
Smiths Group PLC
     1,413   27,023
Spirax-Sarco Engineering PLC
     58   9,572
St James's Place PLC
     932   17,775
Standard Chartered PLC
     2,026   13,610
Taylor Wimpey PLC
     10,296   17,718
Tesco PLC
     10,890   39,574
Unilever PLC
     5,007   227,770
United Utilities Group PLC
     5,190   76,842
Vodafone Group PLC
     60,688   99,753
Whitbread PLC (a)
     701   26,369
WPP PLC
     2,937   38,786
          3,711,211
UNITED STATES — 61.2%          
10X Genomics, Inc. Class A (a)
     228   17,344
3M Co.
     934   139,054
A.O. Smith Corp.
     477   30,476
Abbott Laboratories
     3,114   368,573
AbbVie, Inc.
     3,237   524,750
ABIOMED, Inc. (a)
     107   35,443
Accenture PLC Class A
     1,178   397,257
Activision Blizzard, Inc.
     1,246   99,817
Adobe, Inc. (a)
     752   342,626
Advance Auto Parts, Inc.
     17   3,518
Advanced Micro Devices, Inc. (a)
     2,943   321,788
Affirm Holdings, Inc. (a)(b)
     200   9,256
Aflac, Inc.
     1,657   106,694
Agilent Technologies, Inc.
     709   93,822
Security Description     Shares   Value
AGNC Investment Corp. REIT
     3,576   $ 46,846
Airbnb, Inc. Class A (a)
     500   85,880
Akamai Technologies, Inc. (a)
     239   28,534
Albemarle Corp.
     340   75,191
Alexandria Real Estate Equities, Inc. REIT
     143   28,779
Align Technology, Inc. (a)
     143   62,348
Allegion PLC
     260   28,543
Allstate Corp.
     726   100,558
Ally Financial, Inc.
     386   16,783
Alnylam Pharmaceuticals, Inc. (a)
     161   26,290
Alphabet, Inc. Class A (a)
     532   1,479,678
Alphabet, Inc. Class C (a)
     478   1,335,049
Altria Group, Inc.
     4,114   214,956
Amazon.com, Inc. (a)
     784   2,555,801
AMC Entertainment Holdings, Inc. Class A (a)(b)
     900   22,176
Amcor PLC
     2,149   24,348
AMERCO
     52   31,041
American Express Co.
     1,175   219,725
American Financial Group, Inc.
     100   14,562
American International Group, Inc.
     1,955   122,715
American Tower Corp. REIT
     733   184,144
American Water Works Co., Inc.
     1,011   167,351
Ameriprise Financial, Inc.
     252   75,691
AmerisourceBergen Corp.
     271   41,926
AMETEK, Inc.
     476   63,394
Amgen, Inc.
     1,083   261,891
Amphenol Corp. Class A
     898   67,664
Analog Devices, Inc.
     929   153,452
Annaly Capital Management, Inc. REIT (b)
     4,951   34,855
ANSYS, Inc. (a)
     65   20,647
Anthem, Inc.
     377   185,190
Aon PLC Class A
     427   139,044
Apollo Global Management, Inc.
     507   31,429
Apple, Inc.
     28,287   4,939,193
Applied Materials, Inc.
     1,676   220,897
Aptiv PLC (a)
     503   60,214
Aramark
     300   11,280
Arch Capital Group, Ltd. (a)
     577   27,938
Arista Networks, Inc. (a)
     284   39,470
Arrow Electronics, Inc. (a)
     206   24,438
Arthur J Gallagher & Co.
     290   50,634
Asana, Inc. Class A (a)
     100   3,997
AT&T, Inc.
     13,453   317,894
Atmos Energy Corp. (b)
     946   113,038
Autodesk, Inc. (a)
     413   88,527
Automatic Data Processing, Inc.
     896   203,876
AutoZone, Inc. (a)
     34   69,516
AvalonBay Communities, Inc. REIT
     312   77,491
Avantor, Inc. (a)
     1,007   34,057
Avery Dennison Corp.
     229   39,839
Baker Hughes Co.
     5,866   213,581
 
See accompanying notes to financial statements.
23

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Ball Corp.
     701   $ 63,090
Bank of America Corp.
     12,904   531,903
Bank of New York Mellon Corp.
     1,527   75,785
Bath & Body Works, Inc.
     400   19,120
Bausch Health Cos., Inc. (a)
     375   8,575
Baxter International, Inc.
     807   62,575
Becton Dickinson & Co.
     514   136,724
Bentley Systems, Inc. Class B
     300   13,254
Berkshire Hathaway, Inc. Class B (a)
     1,939   684,292
Best Buy Co., Inc.
     376   34,178
Bill.Com Holdings, Inc. (a)
     100   22,679
Biogen, Inc. (a)
     234   49,280
BioMarin Pharmaceutical, Inc. (a)
     227   17,502
Bio-Techne Corp.
     100   43,304
Black Knight, Inc. (a)
     100   5,799
BlackRock, Inc.
     254   194,099
Blackstone, Inc.
     1,198   152,074
Block, Inc. (a)(d)
     130   18,093
Block, Inc. (a)(d)
     630   85,428
Boeing Co. (a)
     1,032   197,628
Booking Holdings, Inc. (a)
     83   194,921
Booz Allen Hamilton Holding Corp.
     200   17,568
BorgWarner, Inc.
     253   9,842
Boston Properties, Inc. REIT
     306   39,413
Boston Scientific Corp. (a)
     2,628   116,394
Bristol-Myers Squibb Co.
     4,299   313,956
Broadcom, Inc.
     788   496,188
Broadridge Financial Solutions, Inc.
     205   31,921
Brookfield Renewable Corp. Class A
     1,200   52,456
Brown-Forman Corp. Class B
     620   41,552
Burlington Stores, Inc. (a)
     52   9,473
Cadence Design Systems, Inc. (a)
     376   61,837
Caesars Entertainment, Inc. (a)
     400   30,944
Camden Property Trust REIT
     180   29,916
Capital One Financial Corp.
     636   83,500
Cardinal Health, Inc.
     619   35,097
Carlyle Group, Inc.
     286   13,988
CarMax, Inc. (a)(b)
     170   16,402
Carrier Global Corp.
     1,750   80,272
Carvana Co. (a)
     128   15,269
Catalent, Inc. (a)
     264   29,278
Caterpillar, Inc.
     915   203,880
Cboe Global Markets, Inc.
     231   26,431
CBRE Group, Inc. Class A (a)
     735   67,267
CDW Corp.
     253   45,259
Centene Corp. (a)
     883   74,340
Ceridian HCM Holding, Inc. (a)
     128   8,750
Cerner Corp.
     727   68,018
Charles River Laboratories International, Inc. (a)
     100   28,397
Charles Schwab Corp.
     2,357   198,719
Security Description     Shares   Value
Charter Communications, Inc. Class A (a)
     250   $ 136,380
Cheniere Energy, Inc.
     1,362   188,841
Chewy, Inc. Class A (a)(b)
     128   5,220
Chipotle Mexican Grill, Inc. (a)
     54   85,430
Chubb, Ltd.
     700   149,730
Church & Dwight Co., Inc.
     441   43,827
Cigna Corp.
     546   130,827
Cincinnati Financial Corp.
     269   36,573
Cintas Corp.
     214   91,033
Cisco Systems, Inc.
     7,586   422,995
Citigroup, Inc.
     4,057   216,644
Citizens Financial Group, Inc.
     1,320   59,836
Citrix Systems, Inc.
     159   16,043
Clarivate PLC (a)
     1,000   16,760
Clorox Co.
     198   27,528
Cloudflare, Inc. Class A (a)
     358   42,853
CME Group, Inc.
     613   145,808
Coca-Cola Co.
     7,888   489,056
Cognex Corp.
     205   15,816
Cognizant Technology Solutions Corp. Class A
     1,128   101,148
Coinbase Global, Inc. Class A (a)
     100   18,986
Colgate-Palmolive Co.
     1,643   124,589
Comcast Corp. Class A
     7,777   364,119
Consolidated Edison, Inc.
     908   85,969
Constellation Brands, Inc. Class A
     440   101,341
Cooper Cos., Inc.
     38   15,868
Copart, Inc. (a)
     477   59,849
Corning, Inc.
     1,064   39,272
Corteva, Inc.
     1,198   68,861
CoStar Group, Inc. (a)
     820   54,620
Costco Wholesale Corp.
     864   497,534
Coupa Software, Inc. (a)
     90   9,147
Crowdstrike Holdings, Inc. Class A (a)
     294   66,762
Crown Castle International Corp. REIT
     733   135,312
CSX Corp.
     4,236   158,638
Cummins, Inc.
     261   53,534
CVS Health Corp.
     2,328   235,617
CyberArk Software, Ltd. (a)
     100   16,875
D.R. Horton, Inc.
     421   31,369
Danaher Corp.
     1,174   344,369
Darden Restaurants, Inc.
     205   27,255
Datadog, Inc. Class A (a)
     279   42,260
Deere & Co.
     445   184,880
Dell Technologies, Inc. Class C (a)
     914   45,874
DENTSPLY SIRONA, Inc.
     619   30,467
DexCom, Inc. (a)
     153   78,275
Digital Realty Trust, Inc. REIT
     386   54,735
Discover Financial Services
     268   29,531
Discovery, Inc. Class C (a)
     600   14,982
DISH Network Corp. Class A (a)
     448   14,179
DocuSign, Inc. (a)
     329   35,242
 
See accompanying notes to financial statements.
24

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Dollar General Corp.
     295   $ 65,676
Dollar Tree, Inc. (a)
     325   52,049
Domino's Pizza, Inc.
     91   37,038
DoorDash, Inc. Class A (a)
     200   23,438
Dover Corp.
     324   50,836
DraftKings, Inc. Class A (a)(b)
     758   14,758
Dropbox, Inc. Class A (a)
     600   13,950
Duke Realty Corp. REIT
     679   39,423
DuPont de Nemours, Inc.
     700   51,506
Dynatrace, Inc. (a)
     200   9,420
Eaton Corp. PLC
     763   115,793
eBay, Inc.
     1,161   66,479
Ecolab, Inc.
     635   112,116
Edison International
     1,174   82,297
Edwards Lifesciences Corp. (a)
     1,074   126,431
Elanco Animal Health, Inc. (a)
     798   20,820
Electronic Arts, Inc.
     503   63,635
Eli Lilly & Co.
     1,407   402,923
Emerson Electric Co.
     1,245   122,072
Enphase Energy, Inc. (a)
     258   52,059
Entegris, Inc.
     200   26,252
EPAM Systems, Inc. (a)
     100   29,661
Equifax, Inc.
     195   46,234
Equinix, Inc. REIT
     155   114,951
Equitable Holdings, Inc.
     999   30,879
Equity Residential REIT
     808   72,655
Essential Utilities, Inc.
     2,953   150,987
Essex Property Trust, Inc. REIT
     105   36,275
Estee Lauder Cos., Inc. Class A
     505   137,522
Etsy, Inc. (a)
     228   28,336
Everest Re Group, Ltd.
     64   19,288
Eversource Energy
     2,380   209,892
Exact Sciences Corp. (a)
     303   21,186
Expedia Group, Inc. (a)
     342   66,919
Expeditors International of Washington, Inc.
     346   35,693
Extra Space Storage, Inc. REIT
     219   45,026
F5, Inc. (a)
     101   21,104
Fair Isaac Corp. (a)
     16   7,463
Fastenal Co.
     1,188   70,567
FedEx Corp.
     158   36,560
Ferguson PLC
     499   68,197
Fidelity National Financial, Inc.
     801   39,121
Fidelity National Information Services, Inc. (d)
     1,218   122,312
Fifth Third Bancorp
     1,623   69,854
First Republic Bank
     199   32,258
Fiserv, Inc. (a)
     1,152   116,813
Fiverr International, Ltd. (a)(b)
     100   7,607
FleetCor Technologies, Inc. (a)
     171   42,589
FMC Corp.
     882   116,045
Ford Motor Co.
     6,734   113,872
Fortinet, Inc. (a)
     271   92,612
Fortive Corp.
     586   35,705
Fortune Brands Home & Security, Inc.
     219   16,267
Security Description     Shares   Value
Fox Corp. Class A
     354   $ 13,965
Franklin Resources, Inc.
     575   16,054
Freeport-McMoRan, Inc.
     3,894   193,688
Garmin, Ltd.
     294   34,871
Gartner, Inc. (a)
     201   59,789
Generac Holdings, Inc. (a)
     128   38,049
General Dynamics Corp.
     492   118,661
General Electric Co.
     1,991   182,176
General Mills, Inc.
     1,067   72,257
General Motors Co. (a)
     2,087   91,285
Genuine Parts Co.
     307   38,688
Gilead Sciences, Inc.
     2,314   137,567
GlaxoSmithKline PLC
     9,166   198,791
Global Payments, Inc.
     502   68,694
GoDaddy, Inc. Class A (a)
     201   16,824
Goldman Sachs Group, Inc.
     562   185,516
Halliburton Co.
     11,986   453,910
Hartford Financial Services Group, Inc.
     780   56,012
Hasbro, Inc.
     376   30,802
HCA Healthcare, Inc.
     423   106,012
Healthpeak Properties, Inc. REIT
     428   14,693
HEICO Corp.
     100   15,354
Henry Schein, Inc. (a)
     153   13,340
Hershey Co.
     291   63,039
Hewlett Packard Enterprise Co.
     4,507   75,312
Hilton Worldwide Holdings, Inc. (a)
     378   57,358
Hologic, Inc. (a)
     376   28,884
Home Depot, Inc.
     1,784   534,005
Honeywell International, Inc.
     1,361   264,823
Horizon Therapeutics Plc (a)
     258   27,144
Host Hotels & Resorts, Inc. REIT
     1,822   35,401
Howmet Aerospace, Inc.
     900   32,346
HP, Inc.
     2,571   93,327
HubSpot, Inc. (a)
     100   47,494
Humana, Inc.
     251   109,228
Huntington Bancshares, Inc.
     2,352   34,386
Huntington Ingalls Industries, Inc.
     43   8,576
IAC/InterActiveCorp. (a)
     133   13,337
IDEX Corp.
     100   19,173
IDEXX Laboratories, Inc. (a)
     143   78,230
Illinois Tool Works, Inc.
     591   123,755
Illumina, Inc. (a)
     242   84,555
Incyte Corp. (a)
     242   19,220
Ingersoll Rand, Inc.
     612   30,814
Inmode, Ltd. (a)
     200   7,382
Insulet Corp. (a)
     100   26,639
Intel Corp.
     7,272   360,400
Intercontinental Exchange, Inc.
     819   108,206
International Business Machines Corp.
     1,877   244,048
International Flavors & Fragrances, Inc.
     657   86,284
Interpublic Group of Cos., Inc.
     939   33,288
 
See accompanying notes to financial statements.
25

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Intuit, Inc.
     459   $ 220,706
Intuitive Surgical, Inc. (a)
     651   196,394
Invesco, Ltd.
     592   13,652
Invitation Homes, Inc. REIT
     623   25,032
IPG Photonics Corp. (a)
     52   5,708
IQVIA Holdings, Inc. (a)
     426   98,495
Iron Mountain, Inc. REIT
     298   16,512
J.M. Smucker Co.
     170   23,020
Jack Henry & Associates, Inc.
     153   30,149
Jacobs Engineering Group, Inc.
     274   37,760
James Hardie Industries PLC CDI
     1,254   38,233
Jazz Pharmaceuticals PLC (a)
     151   23,506
Johnson & Johnson
     4,639   822,170
Johnson Controls International PLC
     1,720   112,780
JPMorgan Chase & Co.
     5,062   690,052
Juniper Networks, Inc.
     421   15,644
Kellogg Co.
     35   2,257
Keurig Dr. Pepper, Inc.
     1,890   71,631
KeyCorp.
     2,653   59,374
Keysight Technologies, Inc. (a)
     205   32,384
Kinder Morgan, Inc.
     17,873   337,978
KKR & Co., Inc.
     897   52,448
KLA Corp.
     244   89,319
Knight-Swift Transportation Holdings, Inc.
     196   9,890
Kraft Heinz Co.
     1,905   75,038
L3Harris Technologies, Inc.
     306   76,032
Laboratory Corp. of America Holdings (a)
     146   38,494
Lam Research Corp.
     262   140,854
Las Vegas Sands Corp. (a)
     791   30,746
Lear Corp.
     52   7,415
Leidos Holdings, Inc.
     276   29,814
Lennar Corp. Class A
     413   33,523
Lennox International, Inc.
     101   26,044
Liberty Broadband Corp. Class C (a)
     200   27,064
Liberty Media Corp.-Liberty Formula One Class C (a)
     175   12,222
Liberty Media Corp.-Liberty SiriusXM Class A (a)
     528   24,135
Lincoln National Corp.
     555   36,275
Live Nation Entertainment, Inc. (a)
     253   29,763
LKQ Corp.
     665   30,198
Lockheed Martin Corp.
     494   218,052
Loews Corp.
     1,289   83,553
Lowe's Cos., Inc.
     1,225   247,683
Lucid Group, Inc. (a)(b)
     900   22,860
Lululemon Athletica, Inc. (a)
     207   75,603
Lumen Technologies, Inc. (b)
     640   7,213
Lyft, Inc. Class A (a)
     800   30,720
M&T Bank Corp.
     226   38,307
Markel Corp. (a)
     25   36,881
MarketAxess Holdings, Inc.
     45   15,309
Security Description     Shares   Value
Marriott International, Inc. Class A (a)
     136   $ 23,902
Marsh & McLennan Cos., Inc.
     1,022   174,169
Martin Marietta Materials, Inc.
     206   79,287
Marvell Technology, Inc.
     1,426   102,258
Masco Corp.
     896   45,696
Mastercard, Inc. Class A
     1,500   536,070
Match Group, Inc. (a)
     433   47,084
McCormick & Co., Inc.
     558   55,688
McDonald's Corp.
     1,328   328,388
McKesson Corp.
     305   93,370
Medical Properties Trust, Inc. REIT
     1,321   27,926
Medtronic PLC
     2,615   290,134
Merck & Co., Inc.
     4,611   378,333
Meta Platforms, Inc. Class A (a)
     4,073   905,672
MetLife, Inc.
     1,848   129,877
Mettler-Toledo International, Inc. (a)
     52   71,406
MGM Resorts International
     773   32,420
Microchip Technology, Inc.
     952   71,533
Micron Technology, Inc.
     1,832   142,694
Microsoft Corp.
     12,044   3,713,286
Mid-America Apartment Communities, Inc. REIT
     52   10,891
Moderna, Inc. (a)
     550   94,743
Molina Healthcare, Inc. (a)
     45   15,012
Molson Coors Beverage Co. Class B
     386   20,605
Mondelez International, Inc. Class A
     2,996   188,089
MongoDB, Inc. (a)
     45   19,962
Monster Beverage Corp. (a)
     899   71,830
Moody's Corp.
     267   90,088
Morgan Stanley
     2,464   215,354
Mosaic Co.
     400   26,600
Motorola Solutions, Inc.
     257   62,245
MSCI, Inc.
     175   88,004
Nasdaq, Inc.
     27   4,811
NetApp, Inc.
     439   36,437
Netflix, Inc. (a)
     772   289,183
Neurocrine Biosciences, Inc. (a)
     119   11,156
Newell Brands, Inc.
     1,332   28,518
Newmont Corp.
     1,523   121,002
News Corp. Class A
     655   14,508
NextEra Energy, Inc.
     2,067   175,096
NIKE, Inc. Class B
     2,168   291,726
Nordson Corp.
     100   22,708
Norfolk Southern Corp.
     376   107,243
Northern Trust Corp.
     279   32,490
Northrop Grumman Corp.
     281   125,669
NortonLifeLock, Inc.
     1,012   26,838
Novavax, Inc. (a)
     100   7,365
Novocure, Ltd. (a)(b)
     128   10,605
NVIDIA Corp.
     4,232   1,154,744
Okta, Inc. (a)
     145   21,889
Old Dominion Freight Line, Inc.
     206   61,528
 
See accompanying notes to financial statements.
26

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Omnicom Group, Inc.
     294   $ 24,955
ON Semiconductor Corp. (a)
     300   18,783
ONEOK, Inc.
     1,660   117,246
Oracle Corp.
     3,003   248,438
O'Reilly Automotive, Inc. (a)
     136   93,155
Otis Worldwide Corp.
     773   59,482
PACCAR, Inc.
     626   55,132
Palantir Technologies, Inc. Class A (a)
     2,900   39,817
Palo Alto Networks, Inc. (a)(b)
     225   140,065
Paramount Global Class B (b)
     813   30,740
Parker-Hannifin Corp.
     187   53,063
Paychex, Inc.
     713   97,303
Paycom Software, Inc. (a)
     61   21,129
PayPal Holdings, Inc. (a)
     1,846   213,490
Peloton Interactive, Inc. Class A (a)
     486   12,840
Pentair PLC
     275   14,908
PepsiCo, Inc.
     2,555   427,656
PerkinElmer, Inc.
     128   22,331
Pfizer, Inc.
     9,897   512,368
Philip Morris International, Inc.
     3,064   287,832
Pinterest, Inc. Class A (a)
     969   23,847
Pioneer Natural Resources Co.
     1,300   325,039
Plug Power, Inc. (a)(b)
     1,000   28,610
PNC Financial Services Group, Inc.
     942   173,752
Pool Corp.
     100   42,285
PPG Industries, Inc.
     754   98,827
Principal Financial Group, Inc.
     680   49,919
Procter & Gamble Co.
     4,437   677,974
Progressive Corp.
     949   108,177
Prologis, Inc. REIT
     1,308   211,216
Prudential Financial, Inc.
     940   111,080
PTC, Inc. (a)
     199   21,436
Public Storage REIT
     297   115,913
PulteGroup, Inc.
     421   17,640
Qorvo, Inc. (a)
     60   7,446
QUALCOMM, Inc.
     2,000   305,640
Quest Diagnostics, Inc.
     169   23,129
Raytheon Technologies Corp.
     2,946   291,860
Realty Income Corp. REIT
     901   62,439
Regency Centers Corp. REIT
     225   16,052
Regeneron Pharmaceuticals, Inc. (a)
     128   89,398
Regions Financial Corp.
     2,652   59,034
ResMed, Inc.
     276   66,933
RingCentral, Inc. Class A (a)
     100   11,721
Robert Half International, Inc.
     348   39,735
Robinhood Markets, Inc. Class A (a)(b)
     500   6,755
Rockwell Automation, Inc.
     160   44,805
Roku, Inc. (a)
     199   24,929
Rollins, Inc.
     329   11,531
Roper Technologies, Inc.
     226   106,724
Ross Stores, Inc.
     601   54,366
Security Description     Shares   Value
Royalty Pharma PLC Class A
     700   $ 27,272
S&P Global, Inc.
     624   255,952
salesforce.com, Inc. (a)
     1,655   351,390
SBA Communications Corp. REIT
     242   83,272
Schlumberger NV
     7,298   301,480
Schneider Electric SE
     1,000   169,301
Seagate Technology Holdings PLC
     304   27,330
Seagen, Inc. (a)
     161   23,192
Sealed Air Corp.
     219   14,664
Sempra Energy
     791   132,983
Sensata Technologies Holding PLC (a)
     388   19,730
ServiceNow, Inc. (a)
     297   165,396
Sherwin-Williams Co.
     524   130,801
Signature Bank
     100   29,349
Simon Property Group, Inc. REIT
     642   84,462
Skyworks Solutions, Inc.
     288   38,385
Snap, Inc. Class A (a)
     1,917   68,993
Snap-on, Inc.
     79   16,233
Snowflake, Inc. Class A (a)
     328   75,155
SoFi Technologies, Inc. (a)(b)
     1,100   10,395
SolarEdge Technologies, Inc. (a)
     128   41,263
Splunk, Inc. (a)
     244   36,261
SS&C Technologies Holdings, Inc.
     471   35,334
Stanley Black & Decker, Inc.
     297   41,518
Starbucks Corp.
     2,256   205,228
State Street Corp. (g)
     610   53,143
Stellantis NV (d)
     2,805   46,184
Stellantis NV (d)
     1,600   26,348
STERIS PLC
     145   35,057
Stryker Corp.
     646   172,708
Sun Communities, Inc. REIT
     74   12,971
Sunrun, Inc. (a)
     458   13,909
SVB Financial Group (a)
     101   56,504
Swiss Re AG
     478   45,772
Synchrony Financial
     324   11,278
Synopsys, Inc. (a)
     187   62,321
Sysco Corp.
     1,109   90,550
T Rowe Price Group, Inc.
     332   50,195
Take-Two Interactive Software, Inc. (a)
     153   23,522
Target Corp.
     783   166,168
Teladoc Health, Inc. (a)(b)
     249   17,960
Teledyne Technologies, Inc. (a)
     100   47,263
Teleflex, Inc.
     65   23,064
Tenaris SA
     12,576   192,469
Teradyne, Inc.
     330   39,016
Tesla, Inc. (a)
     1,421   1,531,270
Texas Instruments, Inc.
     1,642   301,274
Textron, Inc.
     385   28,636
Thermo Fisher Scientific, Inc.
     657   388,057
TJX Cos., Inc.
     2,103   127,400
T-Mobile US, Inc. (a)
     1,121   143,880
 
See accompanying notes to financial statements.
27

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Tractor Supply Co.
     124   $ 28,938
Trade Desk, Inc. Class A (a)
     710   49,167
Tradeweb Markets, Inc. Class A
     235   20,649
Trane Technologies PLC
     467   71,311
TransDigm Group, Inc. (a)
     63   41,047
TransUnion
     375   38,753
Travelers Cos., Inc.
     508   92,827
Trimble, Inc. (a)
     575   41,480
Truist Financial Corp.
     2,439   138,291
Twilio, Inc. Class A (a)
     261   43,015
Twitter, Inc. (a)
     1,269   49,098
Uber Technologies, Inc. (a)
     2,720   97,050
UDR, Inc. REIT
     271   15,547
Ulta Beauty, Inc. (a)
     92   36,636
Union Pacific Corp.
     1,100   300,531
United Parcel Service, Inc. Class B
     1,230   263,786
United Rentals, Inc. (a)
     190   67,490
UnitedHealth Group, Inc.
     1,551   790,963
Unity Software, Inc. (a)
     100   9,921
Universal Health Services, Inc. Class B
     74   10,726
Upstart Holdings, Inc. (a)(b)
     100   10,909
US Bancorp
     2,565   136,330
Vail Resorts, Inc.
     101   26,287
Veeva Systems, Inc. Class A (a)
     249   52,903
Ventas, Inc. REIT
     729   45,023
VeriSign, Inc. (a)
     101   22,468
Verisk Analytics, Inc.
     332   71,257
Verizon Communications, Inc.
     8,603   438,237
Vertex Pharmaceuticals, Inc. (a)
     405   105,693
VF Corp.
     655   37,243
Viatris, Inc.
     2,161   23,512
VICI Properties, Inc. REIT
     898   25,557
Visa, Inc. Class A
     2,975   659,766
VMware, Inc. Class A
     387   44,068
Vornado Realty Trust REIT
     395   17,901
Vulcan Materials Co.
     323   59,335
W.W. Grainger, Inc.
     119   61,379
Walmart, Inc.
     2,770   412,508
Walgreens Boots Alliance, Inc.
     1,776   79,512
Walt Disney Co. (a)
     3,150   432,054
Waters Corp. (a)
     88   27,314
Wayfair, Inc. Class A (a)(b)
     153   16,949
Wells Fargo & Co.
     7,273   352,450
Welltower, Inc. REIT
     862   82,873
West Pharmaceutical Services, Inc.
     74   30,393
Western Digital Corp. (a)
     591   29,343
Western Union Co.
     1,219   22,844
Westinghouse Air Brake Technologies Corp.
     303   29,140
Weyerhaeuser Co. REIT
     1,711   64,847
Whirlpool Corp.
     56   9,676
Williams Cos., Inc.
     4,379   146,302
Willis Towers Watson PLC
     215   50,787
Security Description     Shares   Value
Workday, Inc. Class A (a)
     315   $ 75,430
WP Carey, Inc. REIT
     101   8,165
Wynn Resorts, Ltd. (a)
     204   16,267
Xylem, Inc.
     479   40,840
Yum! Brands, Inc.
     597   70,762
Zebra Technologies Corp. Class A (a)
     100   41,370
Zendesk, Inc. (a)
     128   15,397
Zillow Group, Inc. Class C (a)(b)
     604   29,771
Zimmer Biomet Holdings, Inc.
     461   58,962
Zoetis, Inc.
     792   149,363
Zoom Video Communications, Inc. Class A (a)
     394   46,189
ZoomInfo Technologies, Inc. (a)
     300   17,922
Zscaler, Inc. (a)
     128   30,884
          69,058,776
ZAMBIA — 0.1%          
First Quantum Minerals, Ltd. (b)
     2,032   70,409
TOTAL COMMON STOCKS

(Cost $85,284,143)
         112,203,397
       
RIGHTS — 0.0% (f)    
SOUTH KOREA — 0.0% (f)      
Samsung Biologics Co., Ltd. (expiring 4/8/22) (a)

(Cost: $0)
   2 310
WARRANTS — 0.0% (f)    
THAILAND — 0.0% (f)      
Minor International PCL (expiring 02/15/24) (a)

(Cost: $0)
   275 28
SHORT-TERM INVESTMENTS — 2.3%  
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (h)(i)
 160,824 160,807
State Street Navigator Securities Lending Portfolio II (g)(j)
 2,369,493 2,369,493
TOTAL SHORT-TERM INVESTMENTS

(Cost $2,530,286)
 2,530,300
TOTAL INVESTMENTS — 101.7%

(Cost $87,814,429)
 114,734,035
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.7)%
(1,870,769)
NET ASSETS — 100.0%
$ 112,863,266
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at March 31, 2022.
 
See accompanying notes to financial statements.
28

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.0% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(e) Fair valued as determined in good faith by the Trust's Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2022, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(f) Amount is less than 0.05% of net assets.
(g) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(h) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(i) The rate shown is the annualized seven-day yield at March 31, 2022.
(j) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
CDI CREST Depository Interest
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
REIT Real Estate Investment Trust
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $ 111,971,060   $232,337   $ 0(a)   $112,203,397
Rights
   —   310   —   310
Warrants
   28   —   —   28
Short-Term Investments
   2,530,300   —   —   2,530,300
TOTAL INVESTMENTS
   $114,501,388   $232,647   $ 0   $114,734,035
(a) The Fund held Level 3 securities that were valued at $0 at March 31, 2022.
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Information Technology 22.3%
  Financials 15.8
  Health Care 11.8
  Consumer Discretionary 11.5
  Industrials 10.1
  Communication Services 8.5
  Consumer Staples 7.3
  Materials 3.9
  Energy 3.1
  Real Estate 2.8
  Utilities 2.3
  Short-Term Investments 2.3
  Liabilities in Excess of Other Assets (1.7)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
29

Table of Contents
SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF (Formerly, SPDR MSCI ACWI Low Carbon Target ETF)
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Corp.
 610   $ 51,679   $ —   $ —   $ —   $1,464   610   $ 53,143   $ 695
State Street Institutional Liquid Reserves Fund, Premier Class
 96,415   96,434   1,662,354   1,597,946   (49)   14   160,823   160,807   43
State Street Navigator Securities Lending Portfolio II
 1,494,278   1,494,278   7,602,627   6,727,412   —   —   2,369,493   2,369,493   4,831
Total
     $1,642,391   $9,264,981   $8,325,358   $(49)   $1,478       $2,583,443   $5,569
See accompanying notes to financial statements.
30

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.2%        
AUSTRALIA — 7.5%          
Ampol, Ltd.
     4,160   $ 95,718
APA Group Stapled Security
     21,210   169,948
Aristocrat Leisure, Ltd.
     10,497   289,296
ASX, Ltd.
     3,320   203,940
Aurizon Holdings, Ltd.
     33,610   93,133
Australia & New Zealand Banking Group, Ltd.
     48,122   997,387
BlueScope Steel, Ltd.
     8,417   131,851
Brambles, Ltd.
     24,825   184,745
Cochlear, Ltd.
     1,144   193,578
Coles Group, Ltd.
     23,247   312,661
Commonwealth Bank of Australia
     29,129   2,313,585
Computershare, Ltd.
     9,590   177,880
Crown Resorts, Ltd. (a)
     6,699   64,191
CSL, Ltd.
     8,216   1,654,433
Dexus REIT
     17,785   146,244
Domino's Pizza Enterprises, Ltd. (b)
     1,044   68,874
Endeavour Group, Ltd.
     21,719   118,899
Evolution Mining, Ltd.
     31,493   104,058
Fortescue Metals Group, Ltd.
     29,140   452,096
Goodman Group REIT
     28,323   486,851
GPT Group REIT
     34,017   132,323
IDP Education, Ltd. (b)
     3,562   84,473
Insurance Australia Group, Ltd.
     42,947   141,260
LendLease Corp., Ltd. Stapled Security
     11,879   99,910
Macquarie Group, Ltd.
     5,787   883,360
Medibank Pvt, Ltd.
     45,271   104,708
Mineral Resources, Ltd. (a)
     2,903   114,908
Mirvac Group REIT
     67,205   125,664
National Australia Bank, Ltd.
     55,860   1,357,020
Newcrest Mining, Ltd.
     15,233   305,885
Northern Star Resources, Ltd.
     18,863   152,134
Orica, Ltd.
     6,904   82,694
Qantas Airways, Ltd. (a)
     16,548   64,743
QBE Insurance Group, Ltd.
     25,488   220,112
Ramsay Health Care, Ltd.
     3,194   156,264
REA Group, Ltd. (b)
     964   98,069
Reece, Ltd.
     4,961   71,007
Rio Tinto PLC
     19,306   1,545,745
Rio Tinto, Ltd.
     6,414   573,704
Scentre Group REIT
     91,777   210,206
SEEK, Ltd.
     5,924   132,658
Sonic Healthcare, Ltd.
     7,601   202,519
Stockland REIT
     40,413   129,587
Suncorp Group, Ltd.
     21,681   181,048
Tabcorp Holdings, Ltd.
     37,496   150,362
Telstra Corp., Ltd.
     71,946   213,950
Transurban Group Stapled Security
     52,623   535,458
Treasury Wine Estates, Ltd.
     12,410   107,917
Vicinity Centres REIT
     68,344   95,717
Security Description     Shares   Value
Wesfarmers, Ltd.
     19,514   $ 738,710
Westpac Banking Corp. (b)
     62,626   1,139,982
WiseTech Global, Ltd.
     2,513   96,395
Woolworths Group, Ltd.
     20,689   578,886
          19,086,746
AUSTRIA — 0.2%          
Erste Group Bank AG
     5,886   216,708
Mondi PLC
     8,219   161,403
Raiffeisen Bank International AG (a)
     2,846   41,008
Verbund AG
     1,171   124,428
Voestalpine AG
     2,128   63,976
          607,523
BELGIUM — 0.9%          
Ageas SA/NV
     2,962   151,074
Anheuser-Busch InBev SA/NV (b)
     14,828   895,202
Elia Group SA (b)
     525   80,728
Etablissements Franz Colruyt NV
     972   40,556
Groupe Bruxelles Lambert SA
     1,904   199,392
KBC Group NV
     4,338   315,568
Proximus SADP
     2,782   52,157
Sofina SA
     262   96,258
Solvay SA (b)
     1,242   123,626
UCB SA
     2,136   257,745
Umicore SA (b)
     3,553   155,600
          2,367,906
BRAZIL — 0.1%          
Yara International ASA
     2,924   147,805
CHILE — 0.1%          
Antofagasta PLC
     7,226   159,171
CHINA — 0.6%          
BOC Hong Kong Holdings, Ltd.
     63,000   238,923
Budweiser Brewing Co. APAC, Ltd. (b)(c)
     32,354   86,138
Chow Tai Fook Jewellery Group, Ltd. (a)
     34,600   63,002
ESR Cayman, Ltd. (a)(c)
     35,000   108,825
Futu Holdings, Ltd. ADR (a)
     882   28,718
Prosus NV (a)
     15,981   863,725
SITC International Holdings Co., Ltd.
     24,000   85,042
Wilmar International, Ltd.
     33,000   114,848
          1,589,221
DENMARK — 2.9%          
Ambu A/S Class B
     2,798   41,853
AP Moller - Maersk A/S Class A
     54   161,143
AP Moller - Maersk A/S Class B
     97   295,555
Carlsberg A/S Class B
     1,748   217,018
Chr. Hansen Holding A/S
     1,818   135,072
Coloplast A/S Class B
     2,010   308,023
Danske Bank A/S
     11,620   195,713
 
See accompanying notes to financial statements.
31

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Demant A/S (a)
     1,762   $ 80,650
DSV A/S
     3,504   681,633
Genmab A/S (a)
     1,115   411,119
GN Store Nord A/S
     2,202   109,584
Novo Nordisk A/S Class B
     28,746   3,220,157
Novozymes A/S Class B
     3,505   242,742
Orsted A/S (c)
     3,290   417,909
Pandora A/S
     1,733   167,873
ROCKWOOL International A/S Class B
     135   45,072
Tryg A/S
     6,271   154,070
Vestas Wind Systems A/S
     17,440   521,086
          7,406,272
FINLAND — 1.3%          
Elisa Oyj
     2,428   147,557
Fortum Oyj
     7,500   137,941
Kesko Oyj Class B
     4,718   131,290
Kone Oyj Class B
     5,837   309,075
Neste Oyj
     7,257   334,931
Nokia Oyj (a)
     91,681   508,565
Nordea Bank Abp (b)(d)
     53,955   563,322
Nordea Bank Abp (d)
     770   8,036
Orion Oyj Class B
     1,889   86,489
Sampo Oyj Class A
     8,611   425,206
Stora Enso Oyj Class R
     10,205   202,282
UPM-Kymmene Oyj (b)
     9,204   303,743
Wartsila OYJ Abp (b)
     8,289   76,604
          3,235,041
FRANCE — 10.2%          
Accor SA (a)
     2,904   94,446
Adevinta ASA (a)
     4,132   38,211
Aeroports de Paris (a)
     528   79,897
Air Liquide SA
     8,087   1,429,963
Airbus SE (a)
     10,128   1,243,638
Alstom SA
     5,472   129,501
Amundi SA (c)
     1,096   75,851
Arkema SA
     1,031   124,752
AXA SA
     33,407   987,429
BioMerieux
     725   78,037
BNP Paribas SA
     19,328   1,116,770
Bollore SE
     16,594   87,775
Bouygues SA
     3,892   136,972
Bureau Veritas SA
     5,127   147,976
Capgemini SE
     2,734   616,002
Carrefour SA
     10,448   228,373
Cie de Saint-Gobain
     8,614   520,144
Cie Generale des Etablissements Michelin SCA
     2,928   400,551
CNP Assurances
     3,112   75,484
Covivio REIT
     972   78,019
Credit Agricole SA
     20,911   253,281
Danone SA
     11,261   626,854
Dassault Aviation SA
     428   68,432
Dassault Systemes SE
     11,316   562,995
Edenred
     4,317   215,765
Security Description     Shares   Value
Eiffage SA
     1,361   $ 141,195
EssilorLuxottica SA
     4,929   912,031
Eurazeo SE
     707   60,100
Faurecia SE (d)
     1,628   42,839
Faurecia SE (d)
     325   8,538
Gecina SA REIT
     838   106,573
Getlink SE
     7,606   138,325
Hermes International
     540   775,973
Ipsen SA
     701   88,370
Kering SA
     1,279   819,267
Klepierre SA REIT (a)
     3,558   95,724
La Francaise des Jeux SAEM (c)
     1,484   59,376
Legrand SA
     4,595   441,629
L'Oreal SA
     4,286   1,735,135
LVMH Moet Hennessy Louis Vuitton SE
     4,741   3,425,634
Orange SA
     34,330   408,864
Orpea SA
     898   39,347
Pernod Ricard SA
     3,619   802,518
Publicis Groupe SA
     3,961   243,542
Remy Cointreau SA
     398   82,810
Renault SA (a)
     3,375   89,655
Safran SA
     5,899   704,004
Sanofi
     19,414   1,998,308
Sartorius Stedim Biotech
     466   193,139
SEB SA
     492   69,304
Societe Generale SA
     13,832   376,444
Sodexo SA
     1,560   128,097
Teleperformance
     1,023   394,173
Thales SA
     1,825   231,385
Ubisoft Entertainment SA (a)
     1,611   71,610
Unibail-Rodamco-Westfield CDI (a)
     698   2,642
Unibail-Rodamco-Westfield REIT (a)(d)
     2,064   156,576
Valeo
     4,141   77,198
Veolia Environnement SA
     11,222   363,222
Vinci SA
     9,192   951,053
Vivendi SE
     13,484   177,635
Wendel SE
     452   46,570
Worldline SA (a)(c)
     4,195   184,299
          26,060,222
GERMANY — 8.6%          
adidas AG
     3,288   775,214
Allianz SE
     6,975   1,680,587
Aroundtown SA
     17,242   99,643
BASF SE
     15,681   903,081
Bayer AG
     16,913   1,168,614
Bayerische Motoren Werke AG
     5,699   498,402
Bayerische Motoren Werke AG Preference Shares
     1,031   80,644
Bechtle AG
     1,400   79,755
Beiersdorf AG
     1,693   179,330
Brenntag SE
     2,653   216,489
Carl Zeiss Meditec AG
     707   115,597
Commerzbank AG (a)
     17,371   133,884
 
See accompanying notes to financial statements.
32

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Continental AG (a)
     1,885   $ 137,166
Covestro AG (c)
     3,342   170,455
Daimler Truck Holding AG (a)
     7,025   197,207
Deutsche Bank AG (a)
     35,686   457,016
Deutsche Boerse AG
     3,239   587,431
Deutsche Lufthansa AG (a)
     10,269   84,071
Deutsche Post AG
     17,032   825,301
Deutsche Telekom AG
     55,329   1,042,365
E.ON SE
     38,613   452,913
Evonik Industries AG
     3,752   105,118
Fresenius Medical Care AG & Co. KGaA
     3,477   235,061
Fresenius SE & Co. KGaA
     7,191   266,796
FUCHS PETROLUB SE Preference Shares
     1,294   47,196
GEA Group AG
     2,600   107,934
Hannover Rueck SE
     1,037   178,092
HeidelbergCement AG
     2,590   148,872
HelloFresh SE (a)
     2,851   129,932
Henkel AG & Co. KGaA Preference Shares
     3,052   206,058
Henkel AG & Co. KGaA
     1,809   120,666
Infineon Technologies AG
     22,544   777,215
KION Group AG
     1,216   81,179
Knorr-Bremse AG
     1,241   96,159
LANXESS AG
     1,497   66,442
LEG Immobilien SE
     1,264   145,210
Mercedes-Benz Group AG
     14,611   1,037,355
Merck KGaA
     2,212   467,255
MTU Aero Engines AG
     920   215,681
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
     2,403   649,709
Nemetschek SE
     983   96,030
Porsche Automobil Holding SE Preference Shares
     2,588   253,111
Puma SE
     1,830   157,679
Rational AG
     88   61,392
SAP SE
     17,826   2,005,625
Sartorius AG Preference Shares
     453   202,469
Scout24 SE (c)
     1,605   92,862
Siemens AG
     13,061   1,826,132
Siemens Energy AG (a)
     6,900   159,073
Siemens Healthineers AG (c)
     4,864   304,367
Symrise AG
     2,195   265,841
Telefonica Deutschland Holding AG
     18,889   51,891
Uniper SE
     1,574   40,981
United Internet AG
     1,756   60,920
Volkswagen AG
     578   145,472
Volkswagen AG Preference Shares
     3,179   555,327
Vonovia SE
     12,673   596,597
Zalando SE (a)(c)
     3,862   197,665
          22,040,529
Security Description     Shares   Value
HONG KONG — 2.3%          
AIA Group, Ltd.
     206,400   $ 2,173,006
CK Asset Holdings, Ltd.
     35,515   243,527
CK Infrastructure Holdings, Ltd.
     10,500   70,323
Hang Lung Properties, Ltd.
     35,000   70,613
Hang Seng Bank, Ltd.
     13,300   256,782
Henderson Land Development Co., Ltd.
     23,250   96,783
HK Electric Investments & HK Electric Investments, Ltd. Stapled Security
     39,000   38,097
HKT Trust & HKT, Ltd. Stapled Security
     68,000   93,429
Hong Kong Exchanges & Clearing, Ltd.
     20,775   985,243
Hongkong Land Holdings, Ltd.
     19,800   97,020
Link REIT
     36,626   313,347
Melco Resorts & Entertainment, Ltd. ADR (a)
     3,831   29,269
MTR Corp., Ltd.
     27,052   146,290
New World Development Co., Ltd.
     27,347   111,219
Power Assets Holdings, Ltd.
     24,000   156,447
Sino Land Co., Ltd.
     54,809   71,106
Sun Hung Kai Properties, Ltd.
     21,500   256,966
Swire Pacific, Ltd. Class A
     8,000   48,931
Swire Properties, Ltd.
     20,200   50,194
Techtronic Industries Co., Ltd.
     23,500   380,794
WH Group, Ltd. (c)
     147,810   93,426
Wharf Real Estate Investment Co., Ltd. (b)
     29,000   143,863
Xinyi Glass Holdings, Ltd.
     31,000   75,210
          6,001,885
IRELAND — 0.7%          
AerCap Holdings NV (a)
     2,260   113,633
CRH PLC
     13,386   541,395
Flutter Entertainment PLC (a)(b)
     2,863   334,479
Kerry Group PLC Class A
     2,727   306,757
Kingspan Group PLC
     2,661   263,626
Smurfit Kappa Group PLC
     4,287   192,944
          1,752,834
ISRAEL — 0.7%          
Azrieli Group, Ltd.
     789   69,672
Bank Hapoalim BM
     19,113   190,157
Bank Leumi Le-Israel BM
     24,476   264,912
Check Point Software Technologies, Ltd. (a)
     1,812   250,527
Elbit Systems, Ltd.
     471   103,314
ICL Group, Ltd.
     12,428   148,883
Israel Discount Bank, Ltd. Class A
     19,860   124,216
Kornit Digital, Ltd. (a)
     826   68,302
Mizrahi Tefahot Bank, Ltd.
     2,587   101,494
Nice, Ltd. (a)
     1,099   241,375
Teva Pharmaceutical Industries, Ltd. ADR (a)
     5,193   48,762
 
See accompanying notes to financial statements.
33

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Teva Pharmaceutical Industries, Ltd. (a)
     13,689   $ 127,657
Wix.com, Ltd. (a)
     965   100,804
          1,840,075
ITALY — 1.9%          
Amplifon SpA (b)
     2,144   96,709
Assicurazioni Generali SpA (b)
     18,942   437,745
Atlantia SpA (a)
     8,294   174,415
Coca-Cola HBC AG (a)
     3,573   75,247
Davide Campari-Milano NV
     8,730   102,525
DiaSorin SpA (b)
     443   69,943
Enel SpA
     138,842   937,400
Ferrari NV
     2,166   478,867
FinecoBank Banca Fineco SpA
     10,638   163,638
Infrastrutture Wireless Italiane SpA (b)(c)
     5,798   65,576
Intesa Sanpaolo SpA
     285,495   661,836
Mediobanca Banca di Credito Finanziario SpA
     10,525   107,972
Moncler SpA
     3,508   198,047
Nexi SpA (a)(c)
     7,566   88,392
Poste Italiane SpA (c)
     9,604   110,278
Prysmian SpA
     4,460   153,637
Recordati Industria Chimica e Farmaceutica SpA
     1,890   95,977
Snam SpA
     34,405   200,285
Telecom Italia SpA (a)(b)
     157,692   58,515
Terna - Rete Elettrica Nazionale (b)
     24,396   211,345
UniCredit SpA
     36,102   395,865
          4,884,214
JAPAN — 22.6%          
Advantest Corp. (b)
     3,200   254,945
Aeon Co., Ltd.
     11,200   240,794
AGC, Inc.
     3,100   125,277
Aisin Corp.
     2,400   82,950
Ajinomoto Co., Inc.
     7,900   226,179
ANA Holdings, Inc. (a)
     2,600   54,967
Asahi Group Holdings, Ltd.
     7,800   286,680
Asahi Intecc Co., Ltd.
     3,900   77,309
Asahi Kasei Corp.
     21,800   190,834
Astellas Pharma, Inc.
     32,200   506,976
Azbil Corp.
     2,000   67,394
Bandai Namco Holdings, Inc.
     3,200   244,980
Benefit One, Inc.
     1,300   27,740
Bridgestone Corp.
     9,800   384,168
Brother Industries, Ltd. (b)
     4,400   81,094
Canon, Inc. (b)
     16,900   416,739
Capcom Co., Ltd.
     2,900   70,914
Central Japan Railway Co.
     2,500   328,836
Chiba Bank, Ltd. (b)
     8,000   47,786
Chugai Pharmaceutical Co., Ltd.
     11,600   391,557
Concordia Financial Group, Ltd.
     19,800   74,714
Cosmos Pharmaceutical Corp.
     300   36,655
CyberAgent, Inc.
     6,800   85,494
Security Description     Shares   Value
Dai Nippon Printing Co., Ltd.
     3,700   $ 87,733
Daifuku Co., Ltd.
     1,800   130,356
Dai-ichi Life Holdings, Inc.
     17,200   354,132
Daiichi Sankyo Co., Ltd.
     29,700   655,786
Daikin Industries, Ltd.
     4,100   757,001
Daito Trust Construction Co., Ltd.
     1,100   117,726
Daiwa House Industry Co., Ltd.
     9,800   258,454
Daiwa House REIT Investment Corp.
     39   105,392
Daiwa Securities Group, Inc. (b)
     25,600   146,102
Denso Corp.
     7,400   479,209
Dentsu Group, Inc.
     3,500   144,758
Disco Corp.
     500   141,710
East Japan Railway Co.
     5,200   304,610
Eisai Co., Ltd. (b)
     4,100   191,530
FANUC Corp.
     3,100   552,828
Fast Retailing Co., Ltd.
     1,100   570,867
Fuji Electric Co., Ltd.
     2,100   106,579
FUJIFILM Holdings Corp.
     6,200   383,212
Fujitsu, Ltd.
     3,200   485,504
GLP J-REIT (a)
     73   111,507
GMO Payment Gateway, Inc.
     700   72,552
Hakuhodo DY Holdings, Inc.
     4,400   56,008
Hamamatsu Photonics KK
     2,500   134,912
Hankyu Hanshin Holdings, Inc.
     4,000   116,828
Hikari Tsushin, Inc.
     400   46,039
Hino Motors, Ltd.
     5,900   34,999
Hirose Electric Co., Ltd.
     505   74,309
Hitachi Construction Machinery Co., Ltd.
     1,800   47,382
Hitachi Metals, Ltd. (a)
     3,500   58,855
Hitachi, Ltd.
     16,300   827,926
Honda Motor Co., Ltd.
     28,100   807,289
Hoshizaki Corp.
     900   62,360
Hoya Corp.
     6,300   728,231
Hulic Co., Ltd.
     6,500   58,962
Ibiden Co., Ltd.
     1,700   84,737
Iida Group Holdings Co., Ltd. (b)
     2,400   41,821
Isuzu Motors, Ltd.
     10,000   130,834
Ito En, Ltd.
     900   44,564
Itochu Techno-Solutions Corp. (b)
     1,700   43,979
Japan Airlines Co., Ltd. (a)
     2,500   47,168
Japan Exchange Group, Inc.
     8,800   165,741
Japan Metropolitan Fund Invest REIT
     122   103,530
Japan Post Bank Co., Ltd. (b)
     6,600   53,561
Japan Post Holdings Co., Ltd.
     42,100   311,618
Japan Post Insurance Co., Ltd.
     3,500   61,594
Japan Real Estate Investment Corp. REIT
     21   110,558
Japan Tobacco, Inc.
     20,600   354,295
JFE Holdings, Inc.
     8,000   113,565
JSR Corp. (b)
     3,600   107,666
Kajima Corp.
     7,900   97,046
Kakaku.com, Inc. (b)
     2,400   54,515
 
See accompanying notes to financial statements.
34

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Kansai Electric Power Co., Inc.
     12,700   $ 120,225
Kansai Paint Co., Ltd.
     3,100   50,392
Kao Corp.
     8,200   339,485
KDDI Corp.
     27,900   920,614
Keio Corp. (b)
     1,700   67,020
Keisei Electric Railway Co., Ltd.
     2,100   59,085
Keyence Corp.
     3,100   1,462,204
Kikkoman Corp.
     2,400   160,758
Kintetsu Group Holdings Co., Ltd.
     2,800   80,857
Kirin Holdings Co., Ltd.
     14,300   215,487
Kobayashi Pharmaceutical Co., Ltd.
     900   72,816
Kobe Bussan Co., Ltd. (b)
     2,300   71,535
Koei Tecmo Holdings Co., Ltd. (b)
     950   31,425
Koito Manufacturing Co., Ltd.
     1,700   69,681
Komatsu, Ltd.
     15,200   368,557
Konami Holdings Corp. (b)
     1,600   102,163
Kose Corp.
     500   53,100
Kubota Corp.
     17,600   333,947
Kurita Water Industries, Ltd.
     1,700   63,658
Kyocera Corp.
     5,500   311,852
Kyowa Kirin Co., Ltd.
     4,800   112,629
Lasertec Corp.
     1,300   222,620
Lawson, Inc.
     800   30,814
Lion Corp.
     4,200   47,130
Lixil Corp.
     4,400   83,015
M3, Inc. (b)
     7,600   279,830
Makita Corp.
     3,900   126,439
Mazda Motor Corp.
     10,100   75,641
McDonald's Holdings Co. Japan, Ltd.
     1,400   58,480
Medipal Holdings Corp.
     3,300   54,785
MEIJI Holdings Co., Ltd.
     2,000   108,919
Mercari, Inc. (a)
     1,600   42,513
MINEBEA MITSUMI, Inc.
     6,300   139,833
MISUMI Group, Inc.
     4,700   141,920
Mitsubishi Chemical Holdings Corp.
     22,200   149,451
Mitsubishi Electric Corp.
     31,200   362,447
Mitsubishi Estate Co., Ltd.
     20,600   308,724
Mitsubishi Gas Chemical Co., Inc.
     2,900   49,721
Mitsubishi HC Capital, Inc.
     12,100   56,824
Mitsubishi Heavy Industries, Ltd.
     5,500   182,163
Mitsubishi UFJ Financial Group, Inc.
     204,100   1,278,494
Mitsui Chemicals, Inc.
     3,300   84,012
Mitsui Fudosan Co., Ltd.
     15,700   338,900
Mitsui OSK Lines, Ltd. (b)
     6,300   177,516
Miura Co., Ltd. (b)
     1,500   37,508
Mizuho Financial Group, Inc.
     41,470   535,394
MonotaRO Co., Ltd.
     4,600   99,826
MS&AD Insurance Group Holdings, Inc.
     7,700   252,363
Murata Manufacturing Co., Ltd.
     10,000   668,754
Security Description     Shares   Value
NEC Corp.
     4,000   $ 169,722
Nexon Co., Ltd.
     8,500   205,331
NGK Insulators, Ltd.
     4,700   67,881
Nidec Corp.
     7,700   618,411
Nihon M&A Center Holdings, Inc.
     5,200   73,989
Nintendo Co., Ltd.
     2,000   1,016,189
Nippon Building Fund, Inc. REIT
     25   142,533
Nippon Express Holdings, Inc.
     1,300   90,183
Nippon Paint Holdings Co., Ltd.
     14,300   127,478
Nippon Prologis REIT, Inc. (a)
     36   105,738
Nippon Sanso Holdings Corp.
     2,700   51,853
Nippon Shinyaku Co., Ltd.
     900   61,767
Nippon Steel Corp.
     14,400   257,569
Nippon Telegraph & Telephone Corp.
     20,500   598,744
Nippon Yusen KK (b)
     2,700   239,357
Nissan Chemical Corp.
     2,000   119,135
Nissan Motor Co., Ltd. (a)
     39,200   176,921
Nisshin Seifun Group, Inc.
     3,900   54,817
Nissin Foods Holdings Co., Ltd.
     1,100   77,668
Nitori Holdings Co., Ltd.
     1,400   177,170
Nitto Denko Corp.
     2,400   174,402
Nomura Holdings, Inc.
     53,000   224,969
Nomura Real Estate Holdings, Inc.
     2,000   48,330
Nomura Real Estate Master Fund, Inc. REIT (a)
     73   96,952
Nomura Research Institute, Ltd.
     5,800   192,099
NTT Data Corp.
     10,800   215,155
Obayashi Corp.
     11,100   82,307
Obic Co., Ltd.
     1,200   182,113
Odakyu Electric Railway Co., Ltd. (b)
     5,100   85,592
Oji Holdings Corp.
     13,600   68,014
Olympus Corp.
     18,900   364,219
Omron Corp.
     3,100   209,791
Ono Pharmaceutical Co., Ltd.
     6,300   159,141
Open House Group Co., Ltd.
     1,400   62,517
Oracle Corp. Japan
     600   42,019
Oriental Land Co., Ltd.
     3,200   619,831
ORIX Corp.
     21,200   427,493
Orix JREIT, Inc.
     45   61,285
Otsuka Corp.
     1,800   64,437
Otsuka Holdings Co., Ltd.
     6,600   230,123
Pan Pacific International Holdings Corp.
     7,000   113,269
Panasonic Corp.
     37,700   369,157
Persol Holdings Co., Ltd.
     2,900   66,040
Pola Orbis Holdings, Inc.
     1,100   14,491
Rakuten Group, Inc.
     15,100   120,302
Recruit Holdings Co., Ltd.
     23,000   1,025,928
Renesas Electronics Corp. (a)
     21,100   248,941
Resona Holdings, Inc.
     35,100   151,563
Ricoh Co., Ltd. (b)
     11,500   100,622
Rinnai Corp.
     600   45,331
Rohm Co., Ltd.
     1,500   118,517
 
See accompanying notes to financial statements.
35

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Ryohin Keikaku Co., Ltd.
     4,400   $ 51,876
Santen Pharmaceutical Co., Ltd.
     6,600   66,720
SBI Holdings, Inc. (b)
     4,000   102,163
SCSK Corp.
     2,800   48,468
Secom Co., Ltd.
     3,400   248,414
Seiko Epson Corp. (b)
     5,000   75,839
Sekisui Chemical Co., Ltd.
     6,200   89,852
Sekisui House, Ltd.
     10,600   207,066
Seven & i Holdings Co., Ltd.
     12,900   617,818
SG Holdings Co., Ltd.
     5,500   104,766
Sharp Corp. (b)
     3,700   35,026
Shimadzu Corp.
     3,900   136,078
Shimano, Inc.
     1,300   301,557
Shimizu Corp. (b)
     9,900   59,951
Shin-Etsu Chemical Co., Ltd.
     6,000   928,857
Shionogi & Co., Ltd.
     4,400   272,972
Shiseido Co., Ltd.
     6,900   353,485
Shizuoka Bank, Ltd. (b)
     8,000   56,882
SMC Corp.
     1,000   567,168
Softbank Corp.
     49,100   577,671
SoftBank Group Corp.
     20,700   948,064
Sohgo Security Services Co., Ltd.
     1,300   42,842
Sompo Holdings, Inc.
     5,300   234,968
Sony Group Corp.
     21,700   2,275,930
Square Enix Holdings Co., Ltd.
     1,500   67,106
Stanley Electric Co., Ltd.
     2,300   44,039
Subaru Corp.
     10,900   174,939
SUMCO Corp.
     5,800   96,862
Sumitomo Chemical Co., Ltd.
     25,200   116,683
Sumitomo Dainippon Pharma Co., Ltd. (b)
     2,500   24,882
Sumitomo Electric Industries, Ltd.
     12,800   154,180
Sumitomo Metal Mining Co., Ltd.
     4,100   208,184
Sumitomo Mitsui Financial Group, Inc.
     22,300   717,826
Sumitomo Mitsui Trust Holdings, Inc. (b)
     5,800   191,191
Sumitomo Realty & Development Co., Ltd.
     5,500   153,570
Suntory Beverage & Food, Ltd.
     2,200   84,465
Suzuki Motor Corp.
     6,400   222,148
Sysmex Corp.
     2,900   213,196
T&D Holdings, Inc.
     9,200   126,659
Taisei Corp.
     3,100   90,286
Taisho Pharmaceutical Holdings Co., Ltd.
     700   32,758
Takeda Pharmaceutical Co., Ltd.
     27,308   787,010
TDK Corp.
     6,700   246,196
Terumo Corp.
     11,200   343,636
TIS, Inc.
     3,900   92,443
Tobu Railway Co., Ltd.
     3,100   76,086
Toho Co., Ltd.
     1,900   72,556
Tokio Marine Holdings, Inc.
     10,600   622,507
Tokyo Century Corp.
     500   18,599
Security Description     Shares   Value
Tokyo Electric Power Co. Holdings, Inc. (a)
     25,400   $ 84,335
Tokyo Electron, Ltd.
     2,700   1,407,003
Tokyu Corp.
     8,100   106,243
TOPPAN, INC.
     4,500   80,305
Toray Industries, Inc.
     23,700   124,734
Toshiba Corp.
     6,700   256,684
Tosoh Corp.
     4,700   70,243
TOTO, Ltd.
     2,300   93,611
Toyo Suisan Kaisha, Ltd.
     1,500   54,006
Toyota Industries Corp.
     2,500   174,459
Toyota Motor Corp.
     180,900   3,312,463
Toyota Tsusho Corp.
     3,400   141,743
Trend Micro, Inc.
     2,300   135,679
Tsuruha Holdings, Inc.
     600   38,360
Unicharm Corp.
     7,000   251,394
USS Co., Ltd.
     3,800   64,463
Welcia Holdings Co., Ltd.
     1,700   42,089
West Japan Railway Co.
     3,800   159,389
Yakult Honsha Co., Ltd. (b)
     2,300   123,551
Yamaha Corp.
     2,400   105,788
Yamaha Motor Co., Ltd.
     5,100   115,803
Yamato Holdings Co., Ltd. (b)
     5,100   96,349
Yaskawa Electric Corp.
     4,200   166,616
Yokogawa Electric Corp.
     4,000   69,174
Z Holdings Corp.
     44,600   197,104
ZOZO, Inc.
     2,000   54,130
          57,830,512
JORDAN — 0.0% (e)          
Hikma Pharmaceuticals PLC
     3,038   82,440
LUXEMBOURG — 0.2%          
ArcelorMittal SA
     10,907   355,575
Eurofins Scientific SE
     2,330   233,090
          588,665
MACAU — 0.1%          
Galaxy Entertainment Group, Ltd.
     35,000   210,052
Sands China, Ltd. (a)
     42,400   102,760
          312,812
NETHERLANDS — 4.4%          
ABN AMRO Bank NV (b)(c)
     7,437   96,335
Adyen NV (a)(c)
     337   678,308
Aegon NV
     30,490   162,906
Akzo Nobel NV
     3,198   278,327
Argenx SE (a)
     772   242,658
ASM International NV
     819   302,630
ASML Holding NV
     7,055   4,788,346
Euronext NV (c)
     1,463   134,620
EXOR NV
     1,802   139,347
Heineken Holding NV
     2,019   159,722
Heineken NV
     4,413   425,119
IMCD NV
     972   167,902
ING Groep NV
     67,390   713,149
JDE Peet's NV
     1,815   52,365
 
See accompanying notes to financial statements.
36

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Koninklijke Ahold Delhaize NV
     17,790   $ 576,304
Koninklijke DSM NV (b)
     2,976   538,078
Koninklijke KPN NV
     57,362   200,598
Koninklijke Philips NV
     15,875   489,804
NN Group NV
     4,717   240,690
Randstad NV (b)
     2,153   130,892
Universal Music Group NV
     12,371   333,034
Wolters Kluwer NV
     4,564   490,446
          11,341,580
NEW ZEALAND — 0.3%          
Auckland International Airport, Ltd. (a)
     20,940   114,042
Fisher & Paykel Healthcare Corp., Ltd.
     9,739   164,946
Mercury NZ, Ltd.
     11,432   47,312
Meridian Energy, Ltd.
     23,283   81,782
Ryman Healthcare, Ltd.
     6,914   45,109
Spark New Zealand, Ltd.
     31,661   100,860
Xero, Ltd. (a)
     2,277   175,693
          729,744
NORWAY — 0.5%          
DNB Bank ASA
     16,109   368,643
Gjensidige Forsikring ASA
     3,728   93,243
Mowi ASA
     7,309   198,941
Norsk Hydro ASA
     22,946   225,943
Orkla ASA
     13,213   118,409
Schibsted ASA Class A
     1,301   32,451
Schibsted ASA Class B
     1,688   36,370
Telenor ASA
     11,843   171,672
          1,245,672
POLAND — 0.0% (e)          
InPost SA (a)(b)
     3,414   21,880
PORTUGAL — 0.1%          
EDP - Energias de Portugal SA
     46,844   232,720
Jeronimo Martins SGPS SA
     4,671   112,935
          345,655
SAUDI ARABIA — 0.0% (e)          
Delivery Hero SE (a)(c)
     2,713   120,322
SINGAPORE — 1.4%          
Ascendas Real Estate Investment Trust
     56,670   122,690
CapitaLand Integrated Commercial Trust REIT
     86,209   143,326
Capitaland Investment, Ltd. (a)
     45,205   133,275
City Developments, Ltd.
     6,600   38,380
DBS Group Holdings, Ltd.
     31,200   826,021
Genting Singapore, Ltd.
     109,700   66,062
Mapletree Commercial Trust REIT
     33,500   46,784
Mapletree Logistics Trust REIT
     47,747   65,269
Oversea-Chinese Banking Corp., Ltd.
     58,589   535,953
Singapore Airlines, Ltd. (a)(b)
     23,000   93,472
Security Description     Shares   Value
Singapore Exchange, Ltd.
     13,200   $ 97,243
Singapore Technologies Engineering, Ltd.
     26,400   80,370
Singapore Telecommunications, Ltd.
     142,000   277,002
STMicroelectronics NV
     11,789   519,303
United Overseas Bank, Ltd.
     20,471   484,340
UOL Group, Ltd.
     7,123   37,053
Venture Corp., Ltd.
     4,800   62,317
          3,628,860
SPAIN — 2.4%          
Abertis Infraestructuras SA (a)(b)
     132   441
ACS Actividades de Construccion y Servicios SA (b)
     4,162   113,456
Aena SME SA (a)(c)
     1,295   217,645
Amadeus IT Group SA (a)
     7,816   514,657
Banco Bilbao Vizcaya Argentaria SA (b)
     113,751   659,404
Banco Santander SA
     296,016   1,021,023
CaixaBank SA
     77,276   264,564
Cellnex Telecom SA (c)
     8,799   427,930
EDP Renovaveis SA
     4,916   127,665
Enagas SA
     4,421   99,118
Endesa SA
     5,315   116,944
Ferrovial SA
     8,282   222,357
Grifols SA (b)
     5,127   94,011
Iberdrola SA
     99,437   1,097,535
Industria de Diseno Textil SA
     18,833   414,481
Red Electrica Corp. SA
     7,297   151,095
Siemens Gamesa Renewable Energy SA (a)(b)
     3,815   67,810
Telefonica SA
     91,753   448,018
          6,058,154
SWEDEN — 3.6%          
Alfa Laval AB
     5,497   191,876
Assa Abloy AB Class B
     17,277   472,553
Atlas Copco AB Class A
     11,459   604,587
Atlas Copco AB Class B
     6,712   309,334
Boliden AB
     4,607   236,346
Electrolux AB Class B (b)
     3,890   59,731
Embracer Group AB (a)(b)
     8,855   75,424
Epiroc AB Class A
     11,108   241,007
Epiroc AB Class B
     6,462   118,258
EQT AB
     5,052   201,713
Essity AB Class B (b)
     10,456   249,300
Evolution AB (c)
     2,929   304,265
Fastighets AB Balder Class B (a)
     1,747   116,487
Getinge AB Class B
     3,898   157,687
H & M Hennes & Mauritz AB Class B (b)
     12,389   167,741
Hexagon AB Class B
     33,853   482,218
Husqvarna AB Class B (b)
     7,631   80,786
Industrivarden AB Class A
     2,215   63,887
Industrivarden AB Class C
     2,982   84,442
Investment AB Latour Class B
     2,537   81,941
 
See accompanying notes to financial statements.
37

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Investor AB Class A
     8,511   $ 201,282
Investor AB Class B
     31,404   694,673
Kinnevik AB Class B (a)
     4,088   108,567
L E Lundbergforetagen AB Class B
     1,226   63,225
Lifco AB Class B
     3,977   102,803
Nibe Industrier AB Class B
     24,614   277,453
Sagax AB Class B
     2,747   84,596
Sandvik AB
     19,432   419,108
Securitas AB Class B
     5,119   58,471
Sinch AB (a)(b)(c)
     8,801   60,874
Skandinaviska Enskilda Banken AB Class A (b)
     28,245   310,503
Skanska AB Class B (b)
     5,729   129,956
SKF AB Class B (b)
     6,549   108,185
Svenska Cellulosa AB SCA Class B (b)
     10,429   205,292
Svenska Handelsbanken AB Class A (b)
     24,711   230,421
Swedbank AB Class A (b)
     15,610   236,175
Swedish Match AB
     27,430   208,623
Tele2 AB Class B
     8,876   135,530
Telefonaktiebolaget LM Ericsson Class B (b)
     50,229   465,133
Telia Co. AB (b)
     46,424   187,999
Volvo AB Class A
     3,453   67,064
Volvo AB Class B (b)
     24,577   465,727
          9,121,243
SWITZERLAND — 11.1%          
ABB, Ltd.
     28,039   919,247
Adecco Group AG (a)
     2,785   127,137
Alcon, Inc.
     8,617   690,109
Bachem Holding AG Class B
     106   58,860
Baloise Holding AG
     782   140,297
Barry Callebaut AG
     62   146,199
Chocoladefabriken Lindt & Spruengli AG (d)
     18   215,550
Chocoladefabriken Lindt & Spruengli AG (d)
     2   242,977
Cie Financiere Richemont SA
     8,971   1,150,316
Clariant AG (a)
     3,455   60,409
Credit Suisse Group AG (a)
     45,224   360,711
EMS-Chemie Holding AG
     120   117,555
Geberit AG
     611   379,912
Givaudan SA
     159   661,226
Holcim, Ltd. (a)
     9,087   447,216
Julius Baer Group, Ltd.
     3,873   226,762
Kuehne + Nagel International AG
     945   270,176
Logitech International SA
     3,008   226,192
Lonza Group AG (a)
     1,277   932,789
Nestle SA
     48,053   6,276,523
Novartis AG
     37,402   3,302,268
Partners Group Holding AG
     391   490,104
Roche Holding AG Bearer Shares (d)
     539   237,213
Roche Holding AG (d)
     11,994   4,776,095
Security Description     Shares   Value
Schindler Holding AG (d)
     711   $ 153,751
Schindler Holding AG (d)
     323   69,461
SGS SA
     103   288,322
Sika AG
     2,449   818,063
Sonova Holding AG
     933   392,970
Straumann Holding AG
     178   287,527
Swatch Group AG Bearer Shares (d)
     497   142,417
Swatch Group AG (d)
     905   49,565
Swiss Life Holding AG
     537   346,738
Swiss Prime Site AG (a)
     1,298   128,707
Swisscom AG
     448   270,187
Temenos AG
     1,178   113,928
UBS Group AG
     60,042   1,183,876
VAT Group AG (c)
     460   177,152
Vifor Pharma AG (a)
     885   158,439
Zurich Insurance Group AG (a)
     2,582   1,281,671
          28,318,617
TAIWAN — 0.3%          
Sea, Ltd. ADR (a)
     5,464   654,533
UNITED KINGDOM — 11.9%          
3i Group PLC
     16,760   306,401
Abrdn PLC
     37,204   105,268
Admiral Group PLC
     3,298   111,294
Ashtead Group PLC
     7,641   486,225
Associated British Foods PLC
     6,140   134,360
AstraZeneca PLC
     26,444   3,527,710
Auto Trader Group PLC (c)
     16,796   139,940
AVEVA Group PLC
     1,902   61,355
Aviva PLC
     64,700   385,132
BAE Systems PLC
     55,167   521,088
Barclays PLC
     289,869   565,996
Barratt Developments PLC
     17,146   117,933
Berkeley Group Holdings PLC (a)
     2,042   100,554
British American Tobacco PLC
     37,214   1,565,236
British Land Co. PLC REIT
     16,103   112,456
BT Group PLC (b)
     155,773   373,690
Bunzl PLC
     5,671   221,612
Burberry Group PLC
     7,227   159,288
CNH Industrial NV
     17,631   282,389
Coca-Cola Europacific Partners PLC
     3,549   176,116
Compass Group PLC
     30,693   666,797
Croda International PLC
     2,448   253,985
DCC PLC
     1,632   127,336
Diageo PLC
     39,792   2,024,171
Entain PLC (a)
     10,166   219,984
Experian PLC
     15,909   618,134
Halma PLC
     6,557   216,695
Hargreaves Lansdown PLC
     6,012   79,790
HSBC Holdings PLC
     347,355   2,402,891
Imperial Brands PLC
     16,428   348,350
Informa PLC (a)
     26,232   207,852
 
See accompanying notes to financial statements.
38

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
InterContinental Hotels Group PLC
     3,118   $ 213,066
Intertek Group PLC
     2,784   191,489
J Sainsbury PLC
     30,469   101,376
JD Sports Fashion PLC (a)
     44,027   85,938
Johnson Matthey PLC
     3,187   78,825
Just Eat Takeaway.com NV (a)(b)(c)
     3,068   104,986
Kingfisher PLC
     37,315   125,480
Land Securities Group PLC REIT
     12,180   125,985
Legal & General Group PLC
     102,731   367,909
Lloyds Banking Group PLC
     1,214,004   752,136
London Stock Exchange Group PLC
     5,607   588,087
M&G PLC
     45,226   131,718
Melrose Industries PLC
     76,757   126,176
National Grid PLC
     61,745   953,121
Natwest Group PLC
     98,736   280,672
Next PLC
     2,268   180,125
Ocado Group PLC (a)
     8,480   130,744
Pearson PLC
     13,520   133,615
Persimmon PLC
     5,391   152,679
Phoenix Group Holdings PLC
     11,428   92,387
Prudential PLC
     46,883   700,002
Reckitt Benckiser Group PLC
     12,216   938,031
RELX PLC (d)
     19,391   608,408
RELX PLC (d)
     13,888   436,378
Rentokil Initial PLC
     31,980   221,480
Rolls-Royce Holdings PLC (a)
     145,888   194,196
Sage Group PLC
     18,328   169,211
Schroders PLC
     2,145   91,250
Segro PLC REIT
     20,893   370,131
Severn Trent PLC
     4,352   176,371
Smith & Nephew PLC
     15,110   242,714
Smiths Group PLC
     6,670   127,559
Spirax-Sarco Engineering PLC
     1,289   212,739
St James's Place PLC
     9,035   172,313
Standard Chartered PLC
     45,581   306,193
Taylor Wimpey PLC
     61,002   104,976
Tesco PLC
     132,355   480,972
Unilever PLC
     43,842   1,994,385
United Utilities Group PLC
     11,741   173,834
Vodafone Group PLC
     465,804   765,645
Whitbread PLC (a)
     3,384   127,295
WPP PLC
     20,540   271,251
          30,421,876
UNITED STATES — 2.3%          
CyberArk Software, Ltd. (a)
     699   117,956
Ferguson PLC
     3,794   518,520
Fiverr International, Ltd. (a)(b)
     516   39,252
GlaxoSmithKline PLC
     85,898   1,862,944
Inmode, Ltd. (a)
     826   30,488
Security Description     Shares   Value
James Hardie Industries PLC CDI
     7,505   $ 228,817
QIAGEN NV (a)
     4,020   199,176
Schneider Electric SE
     9,269   1,569,250
Stellantis NV (d)
     17,754   292,320
Stellantis NV (d)
     17,412   286,727
Swiss Re AG
     5,208   498,700
Tenaris SA
     8,647   132,338
          5,776,488
TOTAL COMMON STOCKS

(Cost $242,086,373)
         253,778,497
       
SHORT-TERM INVESTMENTS — 3.2%  
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (f)(g)
 20,260 20,258
State Street Navigator Securities Lending Portfolio II (h)(i)
 8,138,158 8,138,158
TOTAL SHORT-TERM INVESTMENTS

(Cost $8,158,412)
 8,158,416
TOTAL INVESTMENTS — 102.4%

(Cost $250,244,785)
 261,936,913
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.4)%
(6,174,507)
NET ASSETS — 100.0%
$ 255,762,406
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at March 31, 2022.
(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.8% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(e) Amount is less than 0.05% of net assets.
(f) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(g) The rate shown is the annualized seven-day yield at March 31, 2022.
(h) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(i) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
CDI CREST Depository Interest
REIT Real Estate Investment Trust
 
See accompanying notes to financial statements.
39

Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $253,778,056   $441   $—   $253,778,497
Short-Term Investments
   8,158,416   —   —   8,158,416
TOTAL INVESTMENTS
   $261,936,472   $441   $—   $261,936,913
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Financials 19.2%
  Industrials 15.2
  Health Care 14.1
  Consumer Discretionary 12.5
  Consumer Staples 11.0
  Information Technology 9.3
  Materials 6.6
  Communication Services 5.3
  Real Estate 3.1
  Utilities 2.7
  Energy 0.2
  Short-Term Investments 3.2
  Liabilities in Excess of Other Assets (2.4)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 100,342   $ 100,363   $ 6,223,102   $ 6,303,096   $(115)   $ 4   20,260   $ 20,258   $ 108
State Street Navigator Securities Lending Portfolio II
 2,741,208   2,741,208   17,004,676   11,607,726   —   —   8,138,158   8,138,158   7,873
Total
     $2,841,571   $23,227,778   $17,910,822   $(115)   $ 4       $8,158,416   $7,981
See accompanying notes to financial statements.
40

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.0%        
AUSTRALIA — 7.7%          
Ampol, Ltd.
     8,080   $ 185,914
Aristocrat Leisure, Ltd.
     833   22,957
ASX, Ltd.
     10,573   649,475
Aurizon Holdings, Ltd.
     102,649   284,441
Australia & New Zealand Banking Group, Ltd.
     83,203   1,724,483
BHP Group, Ltd. (a)(b)
     214,098   8,320,202
BHP Group, Ltd. (b)
     151,374   5,883,532
BlueScope Steel, Ltd.
     18,994   297,537
Brambles, Ltd.
     85,750   638,144
Cochlear, Ltd.
     1,820   307,965
Coles Group, Ltd.
     37,116   499,192
Commonwealth Bank of Australia
     45,188   3,589,191
CSL, Ltd.
     31,288   6,300,376
Dexus REIT
     35,730   293,804
Endeavour Group, Ltd.
     49,846   272,878
Evolution Mining, Ltd.
     12,853   42,469
Fortescue Metals Group, Ltd.
     142,948   2,217,784
Glencore PLC (c)
     392,581   2,584,460
Goodman Group REIT
     73,565   1,264,526
GPT Group REIT
     33,919   131,942
Insurance Australia Group, Ltd.
     82,450   271,191
LendLease Corp., Ltd. Stapled Security
     18,236   153,376
Macquarie Group, Ltd.
     3,838   585,854
Medibank Pvt, Ltd.
     341,972   790,956
Mineral Resources, Ltd. (c)
     2,154   85,261
Mirvac Group REIT
     50,540   94,503
National Australia Bank, Ltd.
     70,795   1,719,839
Newcrest Mining, Ltd.
     57,084   1,146,269
Northern Star Resources, Ltd.
     8,137   65,627
Origin Energy, Ltd.
     36,706   171,726
QBE Insurance Group, Ltd.
     24,369   210,449
Ramsay Health Care, Ltd.
     5,577   272,851
REA Group, Ltd. (a)
     4,752   483,427
Rio Tinto PLC
     91,791   7,349,294
Rio Tinto, Ltd.
     31,144   2,785,695
Santos, Ltd.
     53,503   310,978
Scentre Group REIT
     119,245   273,118
SEEK, Ltd. (a)
     4,519   101,195
Sonic Healthcare, Ltd.
     49,338   1,314,547
South32, Ltd.
     83,416   314,459
Stockland REIT
     34,352   110,152
Suncorp Group, Ltd.
     32,965   275,276
Tabcorp Holdings, Ltd.
     68,523   274,782
Telstra Corp., Ltd.
     361,324   1,074,491
Transurban Group Stapled Security
     22,059   224,458
Vicinity Centres REIT
     65,632   91,919
Wesfarmers, Ltd.
     148,680   5,628,338
Westpac Banking Corp.
     95,411   1,736,769
Woodside Petroleum, Ltd.
     10,203   245,948
Security Description     Shares   Value
Woolworths Group, Ltd.
     84,128   $ 2,353,934
          66,027,954
AUSTRIA — 0.2%          
Erste Group Bank AG
     10,404   383,050
Mondi PLC
     33,603   659,891
OMV AG
     5,838   281,846
Raiffeisen Bank International AG (c)
     9,024   130,025
Voestalpine AG
     7,641   229,718
          1,684,530
BELGIUM — 1.1%          
Ageas SA/NV
     6,232   317,856
Anheuser-Busch InBev SA/NV (a)
     11,032   666,029
Etablissements Franz Colruyt NV
     26,917   1,123,095
Groupe Bruxelles Lambert SA
     28,134   2,946,267
KBC Group NV
     6,883   500,704
Proximus SADP
     70,567   1,323,001
Sofina SA
     1,298   476,882
Solvay SA (a)
     2,433   242,175
UCB SA
     11,081   1,337,110
Umicore SA
     3,345   146,491
          9,079,610
BRAZIL — 0.0% (d)          
Yara International ASA
     5,734   289,848
CHINA — 0.3%          
BOC Hong Kong Holdings, Ltd.
     339,536   1,287,665
Chow Tai Fook Jewellery Group, Ltd. (c)
     79,400   144,577
Prosus NV (c)
     10,444   564,467
SITC International Holdings Co., Ltd.
     71,000   251,583
Wilmar International, Ltd.
     169,200   588,859
          2,837,151
DENMARK — 4.4%          
AP Moller - Maersk A/S Class B
     197   600,251
Carlsberg A/S Class B
     5,005   621,381
Chr. Hansen Holding A/S
     16,163   1,200,859
Coloplast A/S Class B
     34,082   5,222,914
Danske Bank A/S
     44,260   745,462
Demant A/S (c)
     4,004   183,270
DSV A/S
     9,808   1,907,949
Genmab A/S (c)
     6,395   2,357,943
GN Store Nord A/S
     5,955   296,354
Novo Nordisk A/S Class B
     156,928   17,579,241
Novozymes A/S Class B
     31,835   2,204,762
Orsted A/S (e)
     4,840   614,796
Pandora A/S
     7,676   743,563
ROCKWOOL International A/S Class B
     181   60,430
Tryg A/S
     56,839   1,396,457
 
See accompanying notes to financial statements.
41

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Vestas Wind Systems A/S
     59,205   $ 1,768,972
          37,504,604
FINLAND — 1.3%          
Elisa Oyj
     44,468   2,702,452
Fortum Oyj
     9,507   174,854
Kone Oyj Class B
     56,403   2,986,597
Neste Oyj
     21,857   1,008,760
Nokia Oyj (c)
     141,230   783,419
Nordea Bank Abp (a)(b)
     93,189   972,948
Nordea Bank Abp (b)
     7,679   80,143
Orion Oyj Class B
     18,297   837,738
Sampo Oyj Class A
     12,724   628,304
UPM-Kymmene Oyj (a)
     23,875   787,904
Wartsila OYJ Abp (a)
     17,261   159,521
          11,122,640
FRANCE — 7.4%          
Aeroports de Paris (c)
     297   44,942
Air Liquide SA
     16,996   3,005,273
Airbus SE (c)
     6,127   752,347
Alstom SA
     17,510   414,393
AXA SA
     69,595   2,057,058
BioMerieux
     10,266   1,105,010
BNP Paribas SA
     46,571   2,690,869
Bouygues SA
     10,040   353,339
Bureau Veritas SA
     12,234   353,099
Capgemini SE
     2,044   460,537
Carrefour SA
     59,124   1,292,333
Cie de Saint-Gobain
     12,289   742,053
Cie Generale des Etablissements Michelin SCA
     3,969   542,961
CNP Assurances
     2,668   64,714
Credit Agricole SA
     47,465   574,911
Danone SA
     28,531   1,588,204
Dassault Systemes SE
     11,830   588,568
Electricite de France SA
     19,544   185,577
Engie SA
     60,227   799,716
EssilorLuxottica SA
     10,777   1,994,109
Faurecia SE (b)
     5,684   149,570
Faurecia SE (b)
     1,388   36,462
Getlink SE
     7,146   129,959
Hermes International
     3,729   5,358,528
Ipsen SA
     3,194   402,646
Kering SA
     4,218   2,701,852
Klepierre SA REIT (c)
     6,881   185,126
Legrand SA
     6,105   586,756
L'Oreal SA
     16,755   6,783,057
LVMH Moet Hennessy Louis Vuitton SE
     12,746   9,209,687
Orange SA
     200,938   2,393,133
Pernod Ricard SA
     7,642   1,694,623
Publicis Groupe SA
     5,683   349,420
Renault SA (c)
     11,343   301,321
Safran SA
     2,631   313,991
Sanofi
     50,811   5,230,041
Security Description     Shares   Value
Sartorius Stedim Biotech
     1,886   $ 781,676
SEB SA
     1,541   217,068
Societe Generale SA
     43,832   1,192,907
Sodexo SA
     2,239   183,852
Thales SA
     3,759   476,590
TotalEnergies SE
     62,010   3,175,860
Ubisoft Entertainment SA (c)
     3,076   136,729
Unibail-Rodamco-Westfield CDI (c)
     28,318   107,178
Unibail-Rodamco-Westfield REIT (b)(c)
     1,746   132,452
Valeo
     6,858   127,850
Veolia Environnement SA
     5,367   173,714
Vinci SA
     10,349   1,070,763
Vivendi SE
     18,234   240,211
Worldline SA (c)(e)
     828   36,376
          63,489,411
GERMANY — 6.0%          
adidas AG
     8,664   2,042,716
Allianz SE
     11,294   2,721,226
Aroundtown SA
     49,385   285,401
BASF SE
     20,682   1,191,092
Bayer AG
     20,668   1,428,067
Bayerische Motoren Werke AG
     13,330   1,165,766
Bayerische Motoren Werke AG Preference Shares
     3,423   267,745
Bechtle AG
     5,196   296,004
Beiersdorf AG
     20,587   2,180,664
Brenntag SE
     4,864   396,911
Carl Zeiss Meditec AG
     1,522   248,853
Commerzbank AG (c)
     48,811   376,202
Continental AG (c)
     3,104   225,870
Covestro AG (e)
     8,348   425,780
Daimler Truck Holding AG (c)
     15,207   426,893
Deutsche Bank AG (c)
     71,695   918,169
Deutsche Boerse AG
     14,506   2,630,837
Deutsche Lufthansa AG (c)
     26,079   213,506
Deutsche Post AG
     55,949   2,711,060
Deutsche Telekom AG
     236,340   4,452,502
E.ON SE
     58,233   683,047
Fresenius Medical Care AG & Co. KGaA
     5,075   343,093
Fresenius SE & Co. KGaA
     12,701   471,224
FUCHS PETROLUB SE Preference Shares
     7,167   261,400
GEA Group AG
     5,413   224,710
Hannover Rueck SE
     2,073   356,012
HeidelbergCement AG
     4,186   240,609
HelloFresh SE (c)
     740   33,725
Henkel AG & Co. KGaA Preference Shares
     13,750   928,340
Henkel AG & Co. KGaA
     5,247   349,993
Infineon Technologies AG
     13,077   450,836
Knorr-Bremse AG
     12,485   967,400
LANXESS AG
     2,560   113,622
Mercedes-Benz Group AG
     30,414   2,159,340
 
See accompanying notes to financial statements.
42

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Merck KGaA
     10,048   $ 2,122,506
MTU Aero Engines AG
     672   157,541
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
     3,932   1,063,111
Nemetschek SE
     3,435   335,568
Porsche Automobil Holding SE Preference Shares
     4,842   473,557
Puma SE
     1,171   100,898
Rational AG
     164   114,412
RWE AG
     16,058   706,280
SAP SE
     52,146   5,867,009
Sartorius AG Preference Shares
     255   113,973
Siemens AG
     9,375   1,310,772
Siemens Energy AG (c)
     8,154   187,983
Siemens Healthineers AG (e)
     30,401   1,902,356
Symrise AG
     16,641   2,015,424
Telefonica Deutschland Holding AG
     70,748   194,354
Uniper SE
     13,942   362,994
United Internet AG
     3,646   126,489
Volkswagen AG
     868   218,460
Volkswagen AG Preference Shares
     10,388   1,814,639
Zalando SE (c)(e)
     1,386   70,938
          51,447,879
HONG KONG — 3.9%          
AIA Group, Ltd.
     128,023   1,347,843
CK Asset Holdings, Ltd.
     76,354   523,560
CK Infrastructure Holdings, Ltd.
     234,500   1,570,540
CLP Holdings, Ltd.
     373,000   3,636,457
Hang Seng Bank, Ltd.
     173,929   3,358,029
HK Electric Investments & HK Electric Investments, Ltd. Stapled Security
     1,022,040   998,366
HKT Trust & HKT, Ltd. Stapled Security
     1,375,540   1,889,932
Hong Kong & China Gas Co., Ltd.
     2,215,652   2,684,901
Hong Kong Exchanges & Clearing, Ltd.
     83,272   3,949,131
Jardine Matheson Holdings, Ltd.
     31,800   1,749,000
Link REIT
     252,241   2,157,998
MTR Corp., Ltd.
     513,289   2,775,722
New World Development Co., Ltd.
     41,687   169,539
Power Assets Holdings, Ltd.
     542,500   3,536,357
Sun Hung Kai Properties, Ltd.
     72,500   866,512
Swire Pacific, Ltd. Class A
     15,500   94,804
Techtronic Industries Co., Ltd.
     81,500   1,320,626
WH Group, Ltd. (e)
     537,290   339,605
Wharf Real Estate Investment Co., Ltd. (a)
     21,000   104,177
Security Description     Shares   Value
Xinyi Glass Holdings, Ltd.
     117,000   $ 283,857
          33,356,956
IRELAND — 0.6%          
AerCap Holdings NV (c)
     3,610   181,511
CRH PLC
     16,247   657,107
Flutter Entertainment PLC (a)(c)
     1,139   133,067
Kerry Group PLC Class A
     27,107   3,049,238
Kingspan Group PLC (a)
     8,459   838,036
Smurfit Kappa Group PLC
     9,183   413,297
          5,272,256
ISRAEL — 1.2%          
Azrieli Group, Ltd.
     4,581   404,520
Bank Hapoalim BM
     183,100   1,821,677
Bank Leumi Le-Israel BM
     271,060   2,933,776
Check Point Software Technologies, Ltd. (c)
     16,836   2,327,745
Elbit Systems, Ltd.
     1,553   340,650
ICL Group, Ltd.
     60,120   720,215
Mizrahi Tefahot Bank, Ltd.
     27,064   1,061,782
Nice, Ltd. (c)
     715   157,037
Teva Pharmaceutical Industries, Ltd. ADR (c)
     21,132   198,430
Teva Pharmaceutical Industries, Ltd. (c)
     24,337   226,955
          10,192,787
ITALY — 2.0%          
Assicurazioni Generali SpA (a)
     60,862   1,406,505
Atlantia SpA (c)
     8,188   172,186
Coca-Cola HBC AG (c)
     2,210   46,542
DiaSorin SpA (a)
     8,927   1,409,440
Enel SpA
     189,014   1,276,140
Eni SpA
     73,397   1,085,657
Ferrari NV
     12,538   2,771,946
FinecoBank Banca Fineco SpA
     57,530   884,949
Infrastrutture Wireless Italiane SpA (a)(e)
     81,523   922,033
Intesa Sanpaolo SpA
     628,789   1,457,663
Mediobanca Banca di Credito Finanziario SpA
     23,000   235,949
Moncler SpA
     12,516   706,602
Poste Italiane SpA (e)
     8,416   96,637
Prysmian SpA
     2,610   89,908
Recordati Industria Chimica e Farmaceutica SpA
     22,891   1,162,436
Snam SpA
     272,597   1,586,893
Telecom Italia SpA (a)(c)
     1,260,701   467,807
Terna - Rete Elettrica Nazionale (a)
     28,842   249,861
UniCredit SpA
     118,597   1,300,436
          17,329,590
JAPAN — 23.6%          
Advantest Corp. (a)
     12,600   1,003,848
Aeon Co., Ltd.
     26,700   574,036
 
See accompanying notes to financial statements.
43

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
AGC, Inc.
     2,800   $ 113,153
Aisin Corp.
     6,300   217,743
Ajinomoto Co., Inc.
     42,600   1,219,650
ANA Holdings, Inc. (a)(c)
     30,200   638,461
Asahi Group Holdings, Ltd.
     16,200   595,413
Asahi Intecc Co., Ltd.
     24,500   485,660
Asahi Kasei Corp.
     26,700   233,728
Astellas Pharma, Inc.
     45,000   708,507
Azbil Corp.
     2,600   87,613
Bandai Namco Holdings, Inc.
     19,400   1,485,189
Benefit One, Inc.
     3,300   70,418
Bridgestone Corp.
     33,100   1,297,547
Brother Industries, Ltd. (a)
     19,100   352,022
Canon, Inc. (a)
     117,700   2,902,378
Capcom Co., Ltd.
     15,100   369,242
Central Japan Railway Co.
     9,000   1,183,810
Chiba Bank, Ltd. (a)
     50,900   304,037
Chubu Electric Power Co., Inc. (a)
     133,200   1,386,048
Chugai Pharmaceutical Co., Ltd.
     77,900   2,629,506
Concordia Financial Group, Ltd.
     76,000   286,781
Cosmos Pharmaceutical Corp.
     4,800   586,480
CyberAgent, Inc.
     19,200   241,394
Daifuku Co., Ltd.
     4,100   296,923
Dai-ichi Life Holdings, Inc.
     41,108   846,376
Daiichi Sankyo Co., Ltd.
     7,318   161,584
Daikin Industries, Ltd.
     1,000   184,634
Daito Trust Construction Co., Ltd.
     4,100   438,797
Daiwa House Industry Co., Ltd.
     27,200   717,340
Daiwa House REIT Investment Corp.
     83   224,297
Daiwa Securities Group, Inc. (a)
     23,100   131,834
Denso Corp.
     8,000   518,064
Dentsu Group, Inc.
     1,300   53,767
Disco Corp.
     1,200   340,103
East Japan Railway Co.
     33,200   1,944,816
Eisai Co., Ltd.
     4,100   191,530
ENEOS HoldingS, Inc.
     269,882   1,018,381
FANUC Corp.
     600   106,999
Fast Retailing Co., Ltd.
     600   311,382
FUJIFILM Holdings Corp.
     25,800   1,594,658
Fujitsu, Ltd.
     11,700   1,775,123
GMO Payment Gateway, Inc.
     1,400   145,104
Hakuhodo DY Holdings, Inc.
     19,200   244,400
Hamamatsu Photonics KK
     20,300   1,095,489
Hankyu Hanshin Holdings, Inc.
     21,000   613,347
Hikari Tsushin, Inc.
     1,600   184,157
Hino Motors, Ltd.
     3,200   18,982
Hirose Electric Co., Ltd.
     10,400   1,530,332
Hitachi, Ltd.
     24,100   1,224,111
Honda Motor Co., Ltd.
     78,800   2,263,857
Hoshizaki Corp.
     1,500   103,934
Hoya Corp.
     27,100   3,132,548
Security Description     Shares   Value
Idemitsu Kosan Co., Ltd. (a)
     20,100   $ 558,908
Inpex Corp.
     51,300   608,626
Isuzu Motors, Ltd.
     21,900   286,527
ITOCHU Corp.
     102,214   3,489,803
Itochu Techno-Solutions Corp. (a)
     16,100   416,511
Japan Airlines Co., Ltd. (c)
     12,700   239,613
Japan Exchange Group, Inc.
     52,506   988,908
Japan Metropolitan Fund Invest REIT
     202   171,419
Japan Post Bank Co., Ltd. (a)
     189,200   1,535,423
Japan Post Holdings Co., Ltd.
     393,300   2,911,149
Japan Post Insurance Co., Ltd.
     21,400   376,605
Japan Real Estate Investment Corp. REIT
     40   210,587
Japan Tobacco, Inc.
     150,900   2,595,293
JFE Holdings, Inc.
     41,400   587,701
Kajima Corp.
     48,900   600,699
Kakaku.com, Inc. (a)
     13,300   302,106
Kansai Electric Power Co., Inc.
     27,600   261,276
Kao Corp.
     38,700   1,602,204
KDDI Corp.
     162,418   5,359,292
Keio Corp. (a)
     13,000   512,503
Keisei Electric Railway Co., Ltd.
     4,400   123,798
Keyence Corp.
     13,500   6,367,662
Kikkoman Corp.
     4,700   314,818
Kintetsu Group Holdings Co., Ltd.
     48,700   1,406,332
Kirin Holdings Co., Ltd.
     31,600   476,180
Kobayashi Pharmaceutical Co., Ltd.
     5,100   412,622
Kobe Bussan Co., Ltd.
     4,000   124,408
Koei Tecmo Holdings Co., Ltd. (a)
     6,030   199,468
Koito Manufacturing Co., Ltd.
     1,600   65,582
Komatsu, Ltd.
     23,400   567,384
Kose Corp.
     1,000   106,200
Kubota Corp.
     24,800   470,561
Kyocera Corp.
     2,200   124,741
Kyowa Kirin Co., Ltd.
     14,700   344,928
Lasertec Corp.
     4,800   821,981
Lawson, Inc.
     22,900   882,039
Lion Corp.
     41,600   466,811
Lixil Corp.
     16,900   318,855
M3, Inc. (a)
     25,100   924,176
Makita Corp.
     9,300   301,508
Marubeni Corp.
     102,500   1,204,243
Mazda Motor Corp.
     49,700   372,213
McDonald's Holdings Co. Japan, Ltd.
     27,400   1,144,536
MEIJI Holdings Co., Ltd.
     23,300   1,268,902
MISUMI Group, Inc.
     4,100   123,802
Mitsubishi Chemical Holdings Corp.
     53,900   362,856
Mitsubishi Corp.
     78,100   2,960,561
Mitsubishi Electric Corp.
     50,800   590,138
 
See accompanying notes to financial statements.
44

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Mitsubishi Estate Co., Ltd.
     22,100   $ 331,204
Mitsubishi Heavy Industries, Ltd.
     14,200   470,311
Mitsubishi UFJ Financial Group, Inc.
     867,900   5,436,576
Mitsui & Co., Ltd.
     54,500   1,494,344
Mitsui Chemicals, Inc.
     4,900   124,746
Mitsui Fudosan Co., Ltd.
     24,500   528,857
Mitsui OSK Lines, Ltd. (a)
     7,500   211,329
Mizuho Financial Group, Inc.
     319,140   4,120,226
MonotaRO Co., Ltd.
     55,000   1,193,574
MS&AD Insurance Group Holdings, Inc.
     33,800   1,107,777
Murata Manufacturing Co., Ltd.
     40,700   2,721,828
NEC Corp.
     32,900   1,395,963
Nexon Co., Ltd.
     9,400   227,071
Nidec Corp.
     400   32,125
Nihon M&A Center Holdings, Inc.
     20,400   290,264
Nintendo Co., Ltd.
     9,600   4,877,710
Nippon Building Fund, Inc. REIT
     38   216,651
Nippon Express Holdings, Inc.
     3,200   221,990
Nippon Paint Holdings Co., Ltd.
     50,400   449,292
Nippon Prologis REIT, Inc. (c)
     756   2,220,507
Nippon Shinyaku Co., Ltd.
     1,400   96,082
Nippon Steel Corp.
     49,300   881,815
Nippon Telegraph & Telephone Corp.
     132,200   3,861,166
Nippon Yusen KK
     3,600   319,143
Nissan Chemical Corp.
     7,100   422,929
Nissan Motor Co., Ltd. (c)
     137,416   620,198
Nissin Foods Holdings Co., Ltd.
     3,600   254,187
Nitori Holdings Co., Ltd.
     16,600   2,100,729
Nitto Denko Corp.
     5,600   406,937
Nomura Holdings, Inc.
     144,400   612,934
Nomura Real Estate Master Fund, Inc. REIT (c)
     178   236,405
Nomura Research Institute, Ltd.
     24,900   824,700
Obayashi Corp.
     58,400   433,038
Obic Co., Ltd.
     9,800   1,487,258
Odakyu Electric Railway Co., Ltd.
     27,700   464,881
Oji Holdings Corp.
     30,300   151,531
Olympus Corp.
     51,800   998,230
Ono Pharmaceutical Co., Ltd.
     37,500   947,271
Open House Group Co., Ltd.
     2,800   125,034
Oracle Corp. Japan
     4,300   301,133
Oriental Land Co., Ltd.
     17,000   3,292,853
ORIX Corp.
     52,300   1,054,618
Orix JREIT, Inc.
     50   68,095
Osaka Gas Co., Ltd.
     64,900   1,118,606
Otsuka Corp.
     15,600   558,451
Otsuka Holdings Co., Ltd.
     17,700   617,149
Security Description     Shares   Value
Pan Pacific International Holdings Corp.
     51,500   $ 833,335
Panasonic Corp.
     82,100   803,920
Persol Holdings Co., Ltd.
     6,800   154,852
Rakuten Group, Inc.
     6,600   52,582
Recruit Holdings Co., Ltd.
     63,605   2,837,137
Renesas Electronics Corp. (c)
     7,200   84,947
Resona Holdings, Inc.
     114,700   495,277
Ricoh Co., Ltd.
     28,300   247,618
Rinnai Corp.
     8,400   634,628
Ryohin Keikaku Co., Ltd.
     5,400   63,665
Santen Pharmaceutical Co., Ltd.
     31,700   320,461
Secom Co., Ltd.
     33,500   2,447,605
Seiko Epson Corp. (a)
     1,800   27,302
Sekisui Chemical Co., Ltd.
     27,700   401,436
Sekisui House, Ltd.
     56,600   1,105,653
Seven & i Holdings Co., Ltd.
     48,200   2,308,437
SG Holdings Co., Ltd.
     107,100   2,040,084
Shimadzu Corp.
     16,800   586,183
Shimano, Inc.
     9,000   2,087,703
Shin-Etsu Chemical Co., Ltd.
     19,600   3,034,266
Shionogi & Co., Ltd.
     28,400   1,761,911
Shizuoka Bank, Ltd. (a)
     70,500   501,269
SMC Corp.
     500   283,584
Softbank Corp.
     282,500   3,323,666
SoftBank Group Corp.
     23,900   1,094,625
Sohgo Security Services Co., Ltd.
     8,900   293,306
Sompo Holdings, Inc.
     9,600   425,603
Sony Group Corp.
     22,200   2,328,371
Square Enix Holdings Co., Ltd.
     4,300   192,371
Subaru Corp.
     27,600   442,964
SUMCO Corp.
     1,200   20,040
Sumitomo Chemical Co., Ltd.
     77,300   357,920
Sumitomo Corp.
     55,112   962,161
Sumitomo Dainippon Pharma Co., Ltd. (a)
     5,100   50,758
Sumitomo Electric Industries, Ltd.
     27,700   333,655
Sumitomo Metal Mining Co., Ltd.
     3,900   198,028
Sumitomo Mitsui Financial Group, Inc.
     81,800   2,633,101
Sumitomo Mitsui Trust Holdings, Inc.
     23,500   774,653
Sumitomo Realty & Development Co., Ltd.
     700   19,545
Suntory Beverage & Food, Ltd.
     41,787   1,604,345
Suzuki Motor Corp.
     4,400   152,727
Sysmex Corp.
     14,900   1,095,388
T&D Holdings, Inc.
     36,300   499,751
Taisei Corp.
     16,900   492,206
Taisho Pharmaceutical Holdings Co., Ltd.
     3,300   154,430
Takeda Pharmaceutical Co., Ltd.
     31,751   915,057
 
See accompanying notes to financial statements.
45

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
TDK Corp.
     4,900   $ 180,054
Terumo Corp.
     4,700   144,204
TIS, Inc.
     9,800   232,293
Tobu Railway Co., Ltd.
     30,400   746,131
Toho Co., Ltd.
     9,500   362,781
Tokio Marine Holdings, Inc.
     27,500   1,614,995
Tokyo Electric Power Co. Holdings, Inc. (c)
     335,800   1,114,953
Tokyo Electron, Ltd.
     9,100   4,742,122
Tokyo Gas Co., Ltd. (a)
     46,208   849,732
Tokyu Corp.
     5,000   65,582
Toray Industries, Inc.
     95,800   504,198
Toshiba Corp.
     3,200   122,595
Tosoh Corp.
     21,700   324,316
Toyo Suisan Kaisha, Ltd.
     13,600   489,656
Toyota Industries Corp.
     1,500   104,676
Toyota Motor Corp.
     290,200   5,313,858
Toyota Tsusho Corp.
     5,200   216,783
Trend Micro, Inc.
     5,800   342,146
Tsuruha Holdings, Inc.
     13,700   875,897
Unicharm Corp.
     23,706   851,365
USS Co., Ltd.
     43,800   743,021
Welcia Holdings Co., Ltd.
     43,000   1,064,593
West Japan Railway Co.
     20,900   876,638
Yakult Honsha Co., Ltd. (a)
     16,800   902,459
Yamaha Corp.
     3,200   141,050
Yamaha Motor Co., Ltd.
     16,000   363,304
Yamato Holdings Co., Ltd. (a)
     3,500   66,122
Yaskawa Electric Corp.
     2,800   111,077
Z Holdings Corp.
     30,600   135,232
ZOZO, Inc.
     7,600   205,693
          202,061,761
JORDAN — 0.1%          
Hikma Pharmaceuticals PLC
     34,988   949,440
LUXEMBOURG — 0.2%          
ArcelorMittal SA
     19,644   640,407
Eurofins Scientific SE
     9,451   945,463
          1,585,870
MACAU — 0.0% (d)          
Galaxy Entertainment Group, Ltd.
     22,000   132,033
Sands China, Ltd. (c)
     72,800   176,436
          308,469
NETHERLANDS — 4.7%          
ABN AMRO Bank NV (a)(e)
     23,385   302,917
Adyen NV (c)(e)
     1,319   2,654,863
Aegon NV
     131,076   700,332
Akzo Nobel NV
     3,390   295,037
ASM International NV
     2,634   973,292
ASML Holding NV
     18,195   12,349,250
EXOR NV
     10,597   819,457
Heineken NV (a)
     8,801   847,829
ING Groep NV
     142,865   1,511,857
Koninklijke Ahold Delhaize NV
     98,444   3,189,075
Security Description     Shares   Value
Koninklijke DSM NV (a)
     5,796   $ 1,047,950
Koninklijke KPN NV
     174,004   608,502
Koninklijke Philips NV
     50,263   1,550,804
NN Group NV
     15,959   814,326
Randstad NV (a)
     8,292   504,114
Shell PLC
     303,944   8,437,964
Universal Music Group NV
     31,518   848,483
Wolters Kluwer NV
     27,762   2,983,298
          40,439,350
NEW ZEALAND — 0.4%          
Auckland International Airport, Ltd. (c)
     96,796   527,166
Fisher & Paykel Healthcare Corp., Ltd.
     65,951   1,116,989
Meridian Energy, Ltd.
     60,193   211,429
Ryman Healthcare, Ltd.
     14,864   96,977
Spark New Zealand, Ltd.
     351,328   1,119,197
          3,071,758
NORWAY — 0.4%          
DNB Bank ASA
     23,441   536,430
Equinor ASA
     14,679   556,003
Gjensidige Forsikring ASA (a)
     14,770   369,419
Mowi ASA
     12,920   351,665
Norsk Hydro ASA
     28,690   282,503
Orkla ASA
     57,547   515,712
Telenor ASA
     74,643   1,081,999
          3,693,731
PORTUGAL — 0.3%          
EDP - Energias de Portugal SA
     48,228   239,596
Jeronimo Martins SGPS SA
     74,536   1,802,123
          2,041,719
SINGAPORE — 2.0%          
CapitaLand Integrated Commercial Trust REIT
     289,000   480,475
DBS Group Holdings, Ltd.
     122,050   3,231,279
Keppel Corp., Ltd.
     48,811   231,549
Oversea-Chinese Banking Corp., Ltd.
     342,445   3,132,574
Singapore Airlines, Ltd. (a)(c)
     34,849   141,626
Singapore Exchange, Ltd.
     315,600   2,324,995
Singapore Technologies Engineering, Ltd.
     586,000   1,783,958
Singapore Telecommunications, Ltd.
     1,181,300   2,304,380
United Overseas Bank, Ltd.
     104,875   2,481,322
Venture Corp., Ltd.
     46,300   601,094
          16,713,252
SOUTH AFRICA — 0.6%          
Anglo American PLC
     94,613   4,948,633
SPAIN — 1.8%          
ACS Actividades de Construccion y Servicios SA
     12,431   338,868
Aena SME SA (c)(e)
     3,937   661,675
 
See accompanying notes to financial statements.
46

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Amadeus IT Group SA (c)
     2,954   $ 194,511
Banco Bilbao Vizcaya Argentaria SA (a)
     324,994   1,883,960
Banco Santander SA
     744,193   2,566,882
CaixaBank SA (a)
     215,240   736,901
Cellnex Telecom SA (e)
     5,541   269,481
Endesa SA
     47,431   1,043,608
Ferrovial SA
     4,409   118,374
Grifols SA (a)
     30,639   561,811
Iberdrola SA
     188,468   2,080,214
Industria de Diseno Textil SA
     58,443   1,286,227
Naturgy Energy Group SA (a)
     4,360   131,758
Red Electrica Corp. SA
     68,556   1,419,550
Repsol SA
     35,149   466,330
Telefonica SA
     272,456   1,330,366
          15,090,516
SWEDEN — 2.6%          
Alfa Laval AB
     21,522   751,240
Assa Abloy AB Class B
     61,021   1,669,019
Atlas Copco AB Class A
     33,926   1,789,966
Atlas Copco AB Class B
     38,120   1,756,823
Boliden AB
     19,059   977,757
Electrolux AB Class B (a)
     10,268   157,666
Epiroc AB Class A
     51,426   1,115,773
Epiroc AB Class B
     20,694   378,711
Essity AB Class B
     17,492   417,057
Evolution AB (e)
     7,898   820,445
H & M Hennes & Mauritz AB Class B (a)
     9,770   132,281
Hexagon AB Class B
     120,369   1,714,594
Husqvarna AB Class B
     27,909   295,459
Industrivarden AB Class A
     675   19,469
Investor AB Class B
     39,423   872,057
Kinnevik AB Class B (c)
     7,122   189,142
L E Lundbergforetagen AB Class B
     6,804   350,881
Lifco AB Class B
     5,995   154,967
Nibe Industrier AB Class B
     60,815   685,518
Sandvik AB
     58,234   1,255,986
Skandinaviska Enskilda Banken AB Class A (a)
     47,956   527,190
Skanska AB Class B (a)
     39,218   889,616
SKF AB Class B (a)
     15,193   250,978
Svenska Handelsbanken AB Class A (a)
     43,417   404,848
Swedbank AB Class A (a)
     27,195   411,453
Swedish Match AB
     34,126   259,550
Telefonaktiebolaget LM Ericsson Class B (a)
     102,777   951,741
Telia Co. AB (a)
     307,713   1,246,120
Volvo AB Class B (a)
     87,420   1,656,584
          22,102,891
SWITZERLAND — 13.4%          
ABB, Ltd.
     66,782   2,189,419
Adecco Group AG (c)
     4,107   187,487
Security Description     Shares   Value
Alcon, Inc.
     7,008   $ 561,249
Bachem Holding AG Class B
     89   49,420
Baloise Holding AG
     2,237   401,335
Barry Callebaut AG
     533   1,256,843
Chocoladefabriken Lindt & Spruengli AG (b)
     217   2,598,577
Chocoladefabriken Lindt & Spruengli AG (b)
     1   121,489
Cie Financiere Richemont SA
     4,463   572,273
Credit Suisse Group AG (c)
     101,019   805,737
EMS-Chemie Holding AG
     3,170   3,105,412
Geberit AG
     4,446   2,764,468
Givaudan SA
     1,412   5,872,017
Holcim, Ltd. (b)(c)
     5,224   257,099
Holcim, Ltd. (b)(c)
     5,887   288,077
Julius Baer Group, Ltd.
     5,207   304,866
Kuehne + Nagel International AG
     11,284   3,226,102
Logitech International SA
     27,042   2,033,476
Lonza Group AG (c)
     1,809   1,321,391
Nestle SA
     171,702   22,427,145
Novartis AG
     177,431   15,665,600
Partners Group Holding AG
     2,373   2,974,469
Roche Holding AG Bearer Shares (b)
     5,075   2,233,496
Roche Holding AG (b)
     56,082   22,332,246
Schindler Holding AG (b)
     6,415   1,387,215
Schindler Holding AG (b)
     7,362   1,583,200
SGS SA
     576   1,612,362
Sika AG
     1,222   408,197
Sonova Holding AG
     3,222   1,357,074
Straumann Holding AG
     548   885,196
Swatch Group AG Bearer Shares
     647   185,400
Swiss Life Holding AG
     980   632,780
Swiss Prime Site AG (c)
     17,911   1,776,016
Swisscom AG (a)
     9,965   6,009,861
Temenos AG
     3,023   292,363
UBS Group AG
     122,591   2,417,184
VAT Group AG (e)
     1,176   452,893
Vifor Pharma AG (c)
     526   94,168
Zurich Insurance Group AG (c)
     4,274   2,121,557
          114,765,159
UNITED KINGDOM — 10.7%          
3i Group PLC
     20,454   373,934
Abrdn PLC
     51,924   146,918
Admiral Group PLC
     57,253   1,932,045
Ashtead Group PLC
     23,161   1,473,821
Associated British Foods PLC
     12,114   265,087
AstraZeneca PLC
     25,312   3,376,697
Auto Trader Group PLC (e)
     28,836   240,255
Aviva PLC
     104,519   622,157
BAE Systems PLC
     215,463   2,035,188
Barclays PLC
     802,085   1,566,145
Barratt Developments PLC
     78,205   537,908
 
See accompanying notes to financial statements.
47

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Berkeley Group Holdings PLC (c)
     10,533   $ 518,674
BP PLC
     849,843   4,199,965
British American Tobacco PLC
     62,857   2,643,791
British Land Co. PLC REIT
     22,431   156,647
BT Group PLC (a)
     455,747   1,093,308
Bunzl PLC
     41,589   1,625,223
Burberry Group PLC
     5,556   122,458
CK Hutchison Holdings, Ltd.
     133,000   977,367
CNH Industrial NV
     21,643   346,647
Coca-Cola Europacific Partners PLC
     6,100   296,521
Compass Group PLC
     21,825   474,142
Croda International PLC
     36,705   3,808,219
DCC PLC
     1,645   128,351
Diageo PLC
     128,538   6,538,573
Entain PLC (c)
     4,699   101,682
Experian PLC
     48,160   1,871,226
Halma PLC
     20,046   662,479
Hargreaves Lansdown PLC
     30,441   404,008
HSBC Holdings PLC
     1,092,975   7,560,853
Imperial Brands PLC
     78,471   1,663,951
Informa PLC (c)
     14,921   118,228
InterContinental Hotels Group PLC
     1,068   72,981
Intertek Group PLC
     13,338   917,412
J Sainsbury PLC
     341,568   1,136,457
JD Sports Fashion PLC (c)
     43,039   84,009
Johnson Matthey PLC
     19,358   478,787
Just Eat Takeaway.com NV (a)(c)(e)
     2,207   75,523
Kingfisher PLC
     68,790   231,322
Land Securities Group PLC REIT
     19,683   203,593
Legal & General Group PLC
     100,816   361,051
Lloyds Banking Group PLC
     2,669,815   1,654,084
London Stock Exchange Group PLC
     4,292   450,164
M&G PLC
     217,788   634,292
Melrose Industries PLC
     71,337   117,266
National Grid PLC
     313,812   4,844,131
Natwest Group PLC
     217,309   617,733
Next PLC
     2,225   176,710
Ocado Group PLC (c)
     17,175   264,804
Pearson PLC
     29,908   295,574
Persimmon PLC
     26,500   750,510
Prudential PLC
     186,637   2,786,643
Reckitt Benckiser Group PLC
     64,221   4,931,342
RELX PLC
     75,627   2,372,856
Rentokil Initial PLC
     50,027   346,466
Rolls-Royce Holdings PLC (c)
     93,399   124,327
Sage Group PLC
     99,872   922,054
Schroders PLC
     11,365   483,478
Segro PLC REIT
     8,578   151,964
Severn Trent PLC
     20,588   834,360
Smith & Nephew PLC
     22,218   356,891
Smiths Group PLC
     11,143   213,103
Security Description     Shares   Value
Spirax-Sarco Engineering PLC
     3,994   $ 659,178
SSE PLC
     20,607   474,407
St James's Place PLC
     20,631   393,468
Standard Chartered PLC
     156,140   1,048,878
Taylor Wimpey PLC
     122,350   210,547
Tesco PLC
     308,051   1,119,444
Unilever PLC
     208,978   9,506,467
United Utilities Group PLC
     47,371   701,362
Vodafone Group PLC
     987,232   1,622,720
Whitbread PLC (c)
     3,149   118,455
WPP PLC
     33,613   443,893
          91,071,174
UNITED STATES — 2.1%          
Ferguson PLC
     15,726   2,149,246
GlaxoSmithKline PLC
     474,616   10,293,409
James Hardie Industries PLC CDI
     17,604   536,721
QIAGEN NV (c)
     48,916   2,423,608
Schneider Electric SE
     6,761   1,144,643
Stellantis NV (b)
     9,474   155,989
Stellantis NV (b)
     48,596   800,241
Swiss Re AG
     6,620   633,909
Tenaris SA
     1,072   16,406
          18,154,172
TOTAL COMMON STOCKS

(Cost $833,496,893)
         846,633,111
       
RIGHTS — 0.0% (d)    
FRANCE — 0.0% (d)      
Electricite de France SA (expiring 04/04/22) (c)

(Cost: $0)
   19,544 7,307
SHORT-TERM INVESTMENTS — 2.2%  
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (f)(g)
 339,458 339,424
State Street Navigator Securities Lending Portfolio II (h)(i)
 18,583,446 18,583,446
TOTAL SHORT-TERM INVESTMENTS

(Cost $18,922,807)
 18,922,870
TOTAL INVESTMENTS — 101.2%

(Cost $852,419,700)
 865,563,288
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.2)%
(10,012,854)
NET ASSETS — 100.0%
$ 855,550,434
(a) All or a portion of the shares of the security are on loan at March 31, 2022.
(b) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(c) Non-income producing security.
(d) Amount is less than 0.05% of net assets.
 
See accompanying notes to financial statements.
48

Table of Contents
SPDR MSCI EAFE STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
(e) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.2% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(f) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(g) The rate shown is the annualized seven-day yield at March 31, 2022.
(h) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(i) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
CDI CREST Depository Interest
REIT Real Estate Investment Trust
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $ 846,633,111   $ —   $—   $ 846,633,111
Rights
   —   7,307   —   7,307
Short-Term Investments
   18,922,870   —   —   18,922,870
TOTAL INVESTMENTS
   $865,555,981   $7,307   $—   $865,563,288
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Financials 16.2%
  Health Care 15.8
  Industrials 13.4
  Consumer Staples 12.4
  Consumer Discretionary 9.2
  Materials 9.0
  Information Technology 7.8
  Communication Services 6.6
  Utilities 4.2
  Energy 2.6
  Real Estate 1.8
  Short-Term Investments 2.2
  Liabilities in Excess of Other Assets (1.2)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 45,445   $ 45,454   $23,254,721   $22,960,290   $(524)   $63   339,458   $ 339,424   $ 265
State Street Navigator Securities Lending Portfolio II
 5,132,905   5,132,905   48,622,595   35,172,054   —   —   18,583,446   18,583,446   22,338
Total
     $5,178,359   $71,877,316   $58,132,344   $(524)   $63       $18,922,870   $22,603
See accompanying notes to financial statements.
49

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.8%        
BRAZIL — 4.2%          
Ambev SA
     89,353   $ 289,573
Americanas SA
     17,947   123,259
B3 SA - Brasil Bolsa Balcao
     151,415   500,580
Banco Bradesco SA Preference Shares
     110,239   515,472
Banco Bradesco SA
     16,509   63,473
Banco BTG Pactual SA 
    4,060   22,248
Banco Inter SA
     6,906   30,810
Banco Santander Brasil SA
     7,280   56,500
BB Seguridade Participacoes SA
     21,962   118,130
Bradespar SA Preference Shares
     2,682   18,670
Braskem SA Class A, Preference Shares
     1,250   11,653
Centrais Eletricas Brasileiras SA
     7,226   57,754
Cia Brasileira de Distribuicao
     2,468   12,543
Cia Siderurgica Nacional SA
     26,232   143,692
Cosan SA
     39,598   197,075
Equatorial Energia SA
     61,898   354,432
Gerdau SA Preference Shares
     19,794   128,337
Hapvida Participacoes e Investimentos SA (a)
     37,135   92,527
Itau Unibanco Holding SA Preference Shares
     95,901   554,585
Itausa SA Preference Shares
     117,080   264,862
Itausa SA
     3   7
Klabin SA
     12,490   63,397
Localiza Rent a Car SA
     17,650   226,942
Lojas Renner SA
     35,220   203,822
Magazine Luiza SA
     80,799   115,963
Natura & Co. Holding SA (b)
     13,749   75,371
Rumo SA (b)
     32,782   127,970
Sendas Distribuidora SA
     11,461   39,289
Suzano SA
     12,145   140,952
Telefonica Brasil SA
     18,293   206,684
TOTVS SA
     6,632   50,773
Via S/A (b)
     22,996   20,180
WEG SA
     52,006   381,622
          5,209,147
CHILE — 0.6%          
Banco Santander Chile
     3,182,663   179,209
Cencosud SA
     40,172   79,126
Empresas CMPC SA
     69,348   128,398
Enel Americas SA
     903,512   109,075
Falabella SA
     14,389   45,985
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares
     1,738   150,207
          692,000
CHINA — 30.8%          
360 DigiTech, Inc. ADR
     1,636   25,178
3SBio, Inc. (a)(b)
     21,000   17,162
Security Description     Shares   Value
AAC Technologies Holdings, Inc. (b)(c)
     15,000   $ 36,354
Addsino Co., Ltd. Class A
     17,300   29,650
Agricultural Bank of China, Ltd. Class H
     523,000   201,015
Aier Eye Hospital Group Co., Ltd. Class A
     4,545   22,589
Air China, Ltd. Class A (b)
     29,800   42,765
Airtac International Group
     2,092   67,977
Akeso, Inc. (a)(b)(c)
     3,000   6,390
Alibaba Group Holding, Ltd. ADR (b)
     1,933   210,310
Alibaba Group Holding, Ltd. (b)
     252,600   3,615,760
Alibaba Health Information Technology, Ltd. (b)(c)
     72,000   46,704
Anhui Conch Cement Co., Ltd. Class H
     35,000   180,108
Anjoy Foods Group Co., Ltd. Class A
     900   15,638
ANTA Sports Products, Ltd.
     32,095   403,267
Autohome, Inc. ADR
     933   28,373
AviChina Industry & Technology Co., Ltd. Class H (c)
     16,000   8,887
Baidu, Inc. ADR (b)
     5,514   729,502
Baidu, Inc. Class A (b)
     800   14,455
Bank of China, Ltd. Class H
     1,437,509   578,205
Bank of Communications Co., Ltd. Class H
     253,000   181,559
BeiGene, Ltd. ADR (b)
     711   134,095
Beijing E-Hualu Information Technology Co., Ltd. Class A
     8,500   28,212
Beijing Enterprises Holdings, Ltd.
     9,000   28,558
Beijing Enterprises Water Group, Ltd.
     230,000   70,779
Beijing Shunxin Agriculture Co., Ltd. Class A
     7,800   28,703
Beijing Yuanliu Hongyuan Electronic Technology Co., Ltd. Class A
     1,900   38,448
BGI Genomics Co., Ltd. Class A
     4,000   50,844
Bilibili, Inc. ADR (b)(c)
     3,135   80,193
BYD Co., Ltd. Class A
     1,800   65,160
BYD Co., Ltd. Class H
     18,136   519,667
BYD Electronic International Co., Ltd. (c)
     14,500   29,254
Caitong Securities Co., Ltd. Class A
     47,700   63,719
CanSino Biologics, Inc. Class H (a)(b)(c)
     1,600   25,722
CGN Power Co., Ltd. Class H (a)
     535,000   140,045
China Cinda Asset Management Co., Ltd. Class H
     388,000   66,389
China CITIC Bank Corp., Ltd. Class H
     290,000   147,011
China Conch Venture Holdings, Ltd.
     31,500   92,110
 
See accompanying notes to financial statements.
50

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
China Construction Bank Corp. Class H
     1,741,340   $ 1,309,663
China Eastern Airlines Corp., Ltd. Class A (b)
     44,500   32,807
China Everbright Environment Group, Ltd.
     109,851   66,488
China Feihe, Ltd. (a)
     40,000   39,635
China Hongqiao Group, Ltd. (c)
     28,000   37,398
China International Capital Corp., Ltd. Class H (a)
     27,200   60,711
China Jinmao Holdings Group, Ltd. (b)
     8,000   2,380
China Life Insurance Co., Ltd. Class H
     180,000   276,732
China Literature, Ltd. (a)(b)
     3,800   15,843
China Longyuan Power Group Corp., Ltd. Class H
     110,000   250,581
China Medical System Holdings, Ltd.
     15,000   23,636
China Meidong Auto Holdings, Ltd.
     12,000   45,969
China Mengniu Dairy Co., Ltd. (b)
     51,000   274,817
China Merchants Bank Co., Ltd. Class A
     25,300   186,519
China Merchants Bank Co., Ltd. Class H
     72,000   565,876
China Merchants Port Holdings Co., Ltd.
     57,024   103,397
China Minsheng Banking Corp., Ltd. Class H (c)
     174,300   65,657
China Molybdenum Co., Ltd. Class A
     78,000   64,016
China National Building Material Co., Ltd. Class H
     76,000   94,522
China Oilfield Services, Ltd. Class H
     62,000   63,572
China Overseas Land & Investment, Ltd.
     56,000   167,684
China Pacific Insurance Group Co., Ltd. Class H
     50,600   123,538
China Railway Group, Ltd. Class H
     239,000   133,975
China Resources Beer Holdings Co., Ltd.
     24,000   147,253
China Resources Cement Holdings, Ltd. (c)
     54,000   45,026
China Resources Gas Group, Ltd.
     24,000   101,897
China Resources Land, Ltd.
     72,000   335,572
China Ruyi Holdings, Ltd. (b)(c)
     64,000   17,325
China Taiping Insurance Holdings Co., Ltd.
     63,030   77,184
China Tourism Group Duty Free Corp., Ltd. Class A
     1,700   44,018
China Tower Corp., Ltd. Class H (a)
     350,000   39,329
China Vanke Co., Ltd. Class H
     75,200   170,346
Security Description     Shares   Value
China Yangtze Power Co., Ltd. Class A
     21,800   $ 75,550
Chinasoft International, Ltd. (b)
     16,000   13,259
Chongqing Zhifei Biological Products Co., Ltd. Class A
     4,300   93,477
CITIC Securities Co., Ltd. Class H
     104,250   240,677
Contemporary Amperex Technology Co., Ltd. Class A
     3,800   306,665
COSCO SHIPPING Holdings Co., Ltd. Class A (b)
     45,500   111,096
COSCO SHIPPING Holdings Co., Ltd. Class H (b)
     26,850   46,833
Country Garden Holdings Co., Ltd. (c)
     193,460   148,960
Country Garden Services Holdings Co., Ltd.
     30,000   128,713
CSPC Pharmaceutical Group, Ltd.
     234,640   271,151
Daan Gene Co., Ltd. Class A
     2,780   8,167
Dada Nexus, Ltd. ADR (b)
     2,190   19,995
Daqo New Energy Corp. ADR (b)
     1,012   41,816
DiDi Global, Inc. ADR (b)
     1,800   4,500
Dongfang Electric Corp., Ltd. Class A
     25,000   53,402
East Money Information Co., Ltd. Class A
     7,400   29,539
ENN Energy Holdings, Ltd.
     14,200   213,053
Eve Energy Co., Ltd. Class A
     3,400   43,206
Flat Glass Group Co., Ltd. Class H (c)
     5,000   19,345
Foshan Haitian Flavouring & Food Co., Ltd. Class A
     4,240   58,389
Fosun International, Ltd.
     7,000   7,784
Fuyao Glass Industry Group Co., Ltd. Class A
     5,300   29,706
Ganfeng Lithium Co., Ltd. Class H (a)
     4,200   60,066
GDS Holdings, Ltd. ADR (b)
     930   36,502
Geely Automobile Holdings, Ltd.
     123,000   194,126
Gemdale Corp. Class A
     54,893   123,481
Genscript Biotech Corp. (b)
     20,000   64,101
GoerTek, Inc. Class A
     17,700   95,915
GOME Retail Holdings, Ltd. (b)(c)
     197,000   12,326
Great Wall Motor Co., Ltd. Class H
     91,713   147,089
GRG Banking Equipment Co., Ltd. Class A
     29,700   49,733
Guangdong Hongda Holdings Group Co., Ltd. Class A
     1,900   7,620
Guangdong Investment, Ltd.
     96,801   132,506
Guangzhou Automobile Group Co., Ltd. Class H
     44,000   36,744
Guangzhou Haige Communications Group, Inc. Co. Class A
     33,500   53,985
 
See accompanying notes to financial statements.
51

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Haidilao International Holding, Ltd. (a)(b)(c)
     19,000   $ 37,265
Haier Smart Home Co., Ltd. Class H
     30,400   98,792
Haitong Securities Co., Ltd. Class A
     40,000   64,901
Hangzhou Silan Microelectronics Co., Ltd. Class A
     12,900   98,557
Hangzhou Tigermed Consulting Co., Ltd. Class A
     4,400   74,580
Hansoh Pharmaceutical Group Co., Ltd. (a)
     18,000   30,156
Hello Group, Inc. ADR
     942   5,445
Hengan International Group Co., Ltd.
     18,000   83,203
Hengli Petrochemical Co., Ltd. Class A
     7,800   25,545
Hithink Royal Flush Information Network Co., Ltd. Class A
     3,200   48,292
Hua Hong Semiconductor, Ltd. (a)(b)(c)
     11,000   46,773
Huaneng Power International, Inc. Class H (b)(c)
     272,000   116,352
Huatai Securities Co., Ltd. Class H (a)
     87,600   134,900
Huazhu Group, Ltd. ADR
     2,520   83,135
Hutchmed China, Ltd. ADR (b)(c)
     310   5,865
I-Mab ADR (b)
     390   6,334
Industrial & Commercial Bank of China, Ltd. Class H
     1,090,857   669,998
Industrial Bank Co., Ltd. Class A
     23,300   75,867
Innovent Biologics, Inc. (a)(b)
     23,500   80,870
Intco Medical Technology Co., Ltd. Class A
     1,750   12,747
iQIYI, Inc. ADR (b)(c)
     5,564   25,261
JA Solar Technology Co., Ltd. Class A
     7,200   89,239
JD Health International, Inc. (a)(b)(c)
     5,950   36,545
JD.com, Inc. Class A (b)
     40,334   1,205,168
Jiangsu Hengli Hydraulic Co., Ltd. Class A
     100   820
Jiangsu Hengrui Medicine Co., Ltd. Class A
     5,592   32,434
Jiangxi Copper Co., Ltd. Class A
     10,100   30,675
Jinxin Fertility Group, Ltd. (a)(b)(c)
     15,000   11,550
Jiumaojiu International Holdings, Ltd. (a)(c)
     13,000   27,888
Joincare Pharmaceutical Group Industry Co., Ltd. Class A
     33,900   65,364
JOYY, Inc. ADR
     652   23,948
KE Holdings, Inc. ADR (b)
     4,344   53,735
Kingboard Holdings, Ltd.
     11,000   53,515
Kingdee International Software Group Co., Ltd. (b)
     36,000   80,078
Kingsoft Cloud Holdings, Ltd. ADR (b)(c)
     769   4,668
Security Description     Shares   Value
Kingsoft Corp., Ltd.
     33,000   $ 107,031
Kuaishou Technology (a)(b)
     3,300   31,266
Kweichow Moutai Co., Ltd. Class A
     1,500   406,184
Lenovo Group, Ltd. (c)
     229,880   250,093
Lens Technology Co., Ltd. Class A
     17,800   32,723
Leyard Optoelectronic Co., Ltd. Class A
     62,200   69,861
Li Auto, Inc. ADR (b)
     9,288   239,723
Li Ning Co., Ltd.
     38,500   332,329
Longfor Group Holdings, Ltd. (a)
     36,000   185,254
LONGi Green Energy Technology Co., Ltd. Class A
     8,700   98,936
Luxshare Precision Industry Co., Ltd. Class A
     19,129   95,523
Luzhou Laojiao Co., Ltd. Class A
     1,600   46,850
Mango Excellent Media Co., Ltd. Class A
     5,000   24,543
Maxscend Microelectronics Co., Ltd. Class A
     180   5,952
Meituan Class B (a)(b)
     73,800   1,466,313
Microport Scientific Corp. (b)(c)
     9,008   20,451
Ming Yuan Cloud Group Holdings, Ltd. (c)
     10,000   13,765
Minth Group, Ltd.
     14,000   34,538
MMG, Ltd. (b)
     60,000   24,210
Muyuan Foods Co., Ltd. Class A
     8,986   80,488
NanJi E-Commerce Co., Ltd. Class A
     23,100   19,796
NAURA Technology Group Co., Ltd. Class A
     1,400   60,428
NetEase, Inc.
     42,930   788,280
New China Life Insurance Co., Ltd. Class H
     40,100   112,137
New Oriental Education & Technology Group, Inc. ADR (b)
     9,709   11,165
NIO, Inc. ADR (b)
     24,863   523,366
OFILM Group Co., Ltd. Class A (b)
     32,800   36,788
Ovctek China, Inc. Class A
     1,400   8,056
Pharmaron Beijing Co., Ltd. Class A
     1,800   33,459
Pharmaron Beijing Co., Ltd. Class H (a)
     2,000   24,376
PICC Property & Casualty Co., Ltd. Class H
     172,000   176,142
Pinduoduo, Inc. ADR (b)
     7,942   318,554
Ping An Bank Co., Ltd. Class A
     21,600   52,332
Ping An Healthcare & Technology Co., Ltd. (a)(b)(c)
     11,000   28,935
Ping An Insurance Group Co. of China, Ltd. Class A
     13,600   103,798
Ping An Insurance Group Co. of China, Ltd. Class H
     125,000   888,251
Postal Savings Bank of China Co., Ltd. Class H (a)
     84,000   68,110
 
See accompanying notes to financial statements.
52

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Prosus NV (b)
     4   $ 222
RiseSun Real Estate Development Co., Ltd. Class A
     30,400   21,358
RLX Technology, Inc. ADR (b)
     13,541   24,238
Sangfor Technologies, Inc. Class A
     1,100   19,331
Seazen Group, Ltd. (b)
     77,714   41,877
Seazen Holdings Co., Ltd. Class A
     8,300   42,062
Shandong Buchang Pharmaceuticals Co., Ltd. Class A
     17,770   66,538
Shandong Weigao Group Medical Polymer Co., Ltd. Class H
     123,200   131,988
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class A
     16,000   134,415
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H
     9,000   44,015
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B
     92,400   86,486
Shanghai Zhangjiang High-Tech Park Development Co., Ltd. Class A
     14,000   30,214
Shanxi Securities Co., Ltd. Class A
     45,230   40,327
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A
     840   33,729
Shenzhen Kangtai Biological Products Co., Ltd. Class A
     3,500   51,413
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A
     800   38,720
Shenzhou International Group Holdings, Ltd.
     15,843   212,011
Shimao Group Holdings, Ltd. (c)
     19,500   11,006
Silergy Corp.
     2,000   239,429
Sinopharm Group Co., Ltd. Class H
     32,000   73,060
Smoore International Holdings, Ltd. (a)(c)
     36,000   86,421
SooChow Securities Co., Ltd. Class A
     41,890   49,425
Sun Art Retail Group, Ltd. (c)
     6,000   2,183
Sunac China Holdings, Ltd. (c)
     60,000   35,089
Sungrow Power Supply Co., Ltd. Class A
     3,700   62,517
Sunny Optical Technology Group Co., Ltd.
     14,500   233,477
Suzhou Dongshan Precision Manufacturing Co., Ltd. Class A
     11,000   32,369
TAL Education Group ADR (b)
     2,274   6,845
Tencent Holdings, Ltd.
     109,595   5,236,669
Tencent Music Entertainment Group ADR (b)
     7,936   38,648
Thunder Software Technology Co., Ltd. Class A
     1,700   26,565
Security Description     Shares   Value
Tianma Microelectronics Co., Ltd. Class A
     32,400   $ 53,336
Tingyi Cayman Islands Holding Corp.
     24,000   40,453
Tongwei Co., Ltd. Class A
     1,800   12,105
Trip.com Group, Ltd. ADR (b)
     10,298   238,090
Tsingtao Brewery Co., Ltd. Class A
     10,500   130,686
Tsingtao Brewery Co., Ltd. Class H
     4,000   31,821
Vipshop Holdings, Ltd. ADR (b)
     11,773   105,957
Walvax Biotechnology Co., Ltd. Class A
     10,100   87,300
Wanhua Chemical Group Co., Ltd. Class A
     3,500   44,598
Want Want China Holdings, Ltd.
     224,000   207,084
Weibo Corp. ADR (b)
     1,170   28,677
Weichai Power Co., Ltd. Class A
     65,100   136,905
Weichai Power Co., Ltd. Class H
     36,000   56,909
Weimob, Inc. (a)(b)(c)
     49,000   32,285
Wharf Holdings, Ltd.
     32,000   97,658
Will Semiconductor Co., Ltd. Shanghai Class A
     1,200   36,559
Wingtech Technology Co., Ltd. Class A
     2,700   34,579
Wuhu Sanqi Interactive Entertainment Network Technology Group Co., Ltd. Class A
     18,000   66,492
Wuliangye Yibin Co., Ltd. Class A
     6,842   167,124
WuXi AppTec Co., Ltd. Class A
     7,472   132,276
WuXi AppTec Co., Ltd. Class H (a)
     7,280   115,734
Wuxi Biologics Cayman, Inc. (a)(b)
     62,500   519,144
Wuxi Lead Intelligent Equipment Co., Ltd. Class A
     10,460   96,294
Wuxi Shangji Automation Co., Ltd. Class A
     1,600   34,555
Xiaomi Corp. Class B (a)(b)
     253,800   451,767
Xinjiang Goldwind Science & Technology Co., Ltd. Class A
     25,239   52,203
Xinyi Solar Holdings, Ltd.
     81,281   143,436
XPeng, Inc. ADR (b)
     6,918   190,868
Yadea Group Holdings, Ltd. (a)
     24,000   37,143
Yantai Eddie Precision Machinery Co., Ltd. Class A
     840   3,156
Yifan Pharmaceutical Co., Ltd. Class A
     21,600   50,699
Yihai International Holding, Ltd. (b)(c)
     8,000   22,984
Yum China Holdings, Inc.
     8,858   367,961
Zai Lab, Ltd. ADR (b)(c)
     1,292   56,822
Zhejiang Dahua Technology Co., Ltd. Class A
     21,600   56,313
Zhejiang Huayou Cobalt Co., Ltd. Class A
     3,500   53,922
 
See accompanying notes to financial statements.
53

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Zhejiang Longsheng Group Co., Ltd. Class A
     15,900   $ 27,301
Zhejiang NHU Co., Ltd. Class A
     17,380   86,734
ZhongAn Online P&C Insurance Co., Ltd. Class H (a)(b)(c)
     7,700   26,252
Zhongji Innolight Co., Ltd. Class A
     6,000   29,877
Zhongsheng Group Holdings, Ltd.
     7,000   49,519
Zhuzhou CRRC Times Electric Co., Ltd.
     23,500   92,273
Zijin Mining Group Co., Ltd. Class A
     51,200   91,462
Zijin Mining Group Co., Ltd. Class H
     84,000   129,356
Zoomlion Heavy Industry Science & Technology Co., Ltd. Class A (b)
     20,000   20,920
ZTE Corp. Class A
     8,100   30,496
ZTE Corp. Class H
     14,400   29,457
ZTO Express Cayman, Inc. ADR
     7,714   192,850
          38,347,110
COLOMBIA — 0.2%          
Bancolombia SA Preference Shares
     18,326   196,798
EGYPT — 0.1%          
Commercial International Bank Egypt SAE (b)
     29,169   73,704
ElSewedy Electric Co.
     114,374   51,681
          125,385
GREECE — 0.1%          
Alpha Services & Holdings SA (b)
     26,715   33,172
Hellenic Telecommunications Organization SA
     4,274   77,990
JUMBO SA
     1,551   23,297
          134,459
HONG KONG — 0.2%          
China Youzan, Ltd. (b)
     132,000   2,731
Huabao International Holdings, Ltd. (c)
     11,000   6,138
Sino Biopharmaceutical, Ltd.
     300,250   187,479
          196,348
HUNGARY — 0.2%          
OTP Bank Nyrt (b)
     6,668   245,359
INDIA — 12.4%          
Adani Green Energy, Ltd. (b)
     9,387   237,193
Adani Ports & Special Economic Zone, Ltd.
     15,713   160,541
Adani Total Gas, Ltd.
     5,241   148,692
Adani Transmission, Ltd. (b)
     7,011   219,110
Ambuja Cements, Ltd.
     14,607   57,686
Apollo Hospitals Enterprise, Ltd.
     1,318   78,551
Asian Paints, Ltd.
     6,667   270,987
Security Description     Shares   Value
Aurobindo Pharma, Ltd.
     13,427   $ 118,464
Avenue Supermarts, Ltd. (a)(b)
     3,146   166,210
Axis Bank, Ltd. (b)
     45,523   457,273
Bajaj Auto, Ltd.
     2,024   97,574
Bajaj Finance, Ltd.
     3,560   341,081
Bajaj Finserv, Ltd.
     933   210,061
Balkrishna Industries, Ltd.
     2,179   61,429
Bandhan Bank, Ltd. (a)
     21,153   85,812
Bharat Electronics, Ltd.
     42,312   117,709
Bharat Forge, Ltd.
     8,528   78,848
Bharti Airtel, Ltd. (b)
     37,792   376,523
Biocon, Ltd. (b)
     8,813   39,032
Britannia Industries, Ltd.
     1,117   47,266
Cholamandalam Investment & Finance Co., Ltd.
     18,624   176,581
Cipla, Ltd.
     8,385   112,654
Container Corp. Of India, Ltd.
     5,845   51,847
Dabur India, Ltd.
     12,887   91,191
Divi's Laboratories, Ltd.
     2,285   132,744
DLF, Ltd.
     7,547   37,892
Dr Reddy's Laboratories, Ltd.
     2,769   156,966
Eicher Motors, Ltd.
     2,855   92,579
Godrej Consumer Products, Ltd. (b)
     8,280   81,658
Grasim Industries, Ltd.
     7,599   166,872
Havells India, Ltd.
     6,128   93,208
HCL Technologies, Ltd.
     28,157   432,434
HDFC Life Insurance Co., Ltd. (a)
     6,167   43,802
Hero MotoCorp, Ltd.
     1,222   36,997
Hindalco Industries, Ltd.
     36,432   273,811
Hindustan Unilever, Ltd.
     16,463   445,093
Housing Development Finance Corp., Ltd.
     23,652   746,127
ICICI Bank, Ltd.
     91,843   885,159
ICICI Lombard General Insurance Co., Ltd. (a)
     2,528   44,315
ICICI Prudential Life Insurance Co., Ltd. (a)
     2,607   17,233
Indus Towers, Ltd. (b)
     19,670   57,641
Info Edge India, Ltd.
     1,579   93,968
Infosys, Ltd.
     69,760   1,755,485
InterGlobe Aviation, Ltd. (a)(b)
     4,922   130,830
Ipca Laboratories, Ltd.
     3,776   53,108
ITC, Ltd.
     86,548   286,285
Jubilant Foodworks, Ltd.
     2,477   86,184
Kotak Mahindra Bank, Ltd.
     8,086   187,154
Larsen & Toubro Infotech, Ltd. (a)
     728   59,137
Larsen & Toubro, Ltd.
     12,169   283,874
Lupin, Ltd.
     5,400   53,237
Mahindra & Mahindra, Ltd.
     19,075   203,035
Marico, Ltd.
     11,087   73,699
Maruti Suzuki India, Ltd.
     2,692   268,624
Motherson Sumi Systems, Ltd.
     36,049   66,342
Motherson Sumi Wiring India, Ltd. (b)
     6,925   5,890
 
See accompanying notes to financial statements.
54

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
MRF, Ltd.
     31   $ 26,601
Muthoot Finance, Ltd.
     5,024   88,244
Nestle India, Ltd.
     572   131,200
Page Industries, Ltd.
     91   51,867
Petronet LNG, Ltd.
     14,713   37,620
PI Industries, Ltd.
     1,670   62,142
Piramal Enterprises, Ltd.
     2,605   75,181
Power Grid Corp. of India, Ltd.
     33,293   95,255
REC, Ltd.
     29,636   48,125
SBI Cards & Payment Services, Ltd.
     8,831   99,259
SBI Life Insurance Co., Ltd. (a)
     1,639   24,257
Shree Cement, Ltd.
     212   67,237
Shriram Transport Finance Co., Ltd.
     7,387   110,632
State Bank of India
     44,730   291,343
Sun Pharmaceutical Industries, Ltd.
     24,730   298,539
Tata Consultancy Services, Ltd.
     22,515   1,111,250
Tata Consumer Products, Ltd.
     7,814   80,166
Tata Steel, Ltd.
     14,954   257,973
Tech Mahindra, Ltd.
     8,529   168,773
Titan Co., Ltd.
     7,199   240,947
Torrent Pharmaceuticals, Ltd.
     444   16,359
Trent, Ltd.
     5,174   87,093
UltraTech Cement, Ltd.
     2,024   176,352
United Spirits, Ltd. (b)
     7,087   83,085
UPL, Ltd.
     19,245   195,460
Wipro, Ltd.
     26,167   204,398
Yes Bank, Ltd. (b)
     267,112   43,358
Zee Entertainment Enterprises, Ltd.
     21,122   80,376
          15,406,790
INDONESIA — 1.7%          
Bank Central Asia Tbk PT
     1,004,100   557,542
Bank Mandiri Persero Tbk PT
     548,000   301,424
Bank Negara Indonesia Persero Tbk PT
     276,009   158,543
Bank Rakyat Indonesia Persero Tbk PT
     1,454,367   471,878
Kalbe Farma Tbk PT
     490,665   55,002
Telkom Indonesia Persero Tbk PT
     1,478,600   471,505
Unilever Indonesia Tbk PT
     273,600   69,722
          2,085,616
KUWAIT — 0.8%          
Agility Public Warehousing Co. KSC
     54,139   196,918
Boubyan Bank KSCP (b)
     21,967   67,897
Gulf Bank KSCP
     146,616   154,917
Kuwait Finance House KSCP
     86,252   304,068
Mabanee Co. KPSC
     24,773   74,939
National Bank of Kuwait SAKP
     43,576   157,636
          956,375
Security Description     Shares   Value
MALAYSIA — 1.6%          
CIMB Group Holdings Bhd
     187,612   $ 237,820
DiGi.Com Bhd
     154,400   143,210
Genting Malaysia Bhd
     67,900   48,122
Hartalega Holdings Bhd
     22,900   26,414
IHH Healthcare Bhd
     104,500   154,088
IOI Corp. Bhd
     172,800   169,317
Kossan Rubber Industries Bhd
     12,600   5,873
Malayan Banking Bhd
     37,394   79,506
Maxis Bhd
     129,700   121,225
Petronas Chemicals Group Bhd
     93,700   213,930
Petronas Gas Bhd
     19,700   78,055
Public Bank Bhd
     309,000   343,191
Sime Darby Bhd
     104,655   59,735
Sime Darby Plantation Bhd
     57,855   68,384
Supermax Corp. Bhd
     39,236   11,011
Tenaga Nasional Bhd
     66,600   142,553
Top Glove Corp. Bhd
     114,600   52,329
          1,954,763
MEXICO — 2.6%          
America Movil SAB de CV Series L (c)
     728,442   771,472
Arca Continental SAB de CV
     10,449   70,867
Coca-Cola Femsa SAB de CV
     12,059   66,233
Fomento Economico Mexicano SAB de CV
     48,130   399,096
Gruma SAB de CV Class B (c)
     5,226   65,554
Grupo Aeroportuario del Pacifico SAB de CV Class B (b)
     14,693   237,695
Grupo Bimbo SAB de CV Class A
     40,343   121,502
Grupo Carso SAB de CV Series A1 (c)
     32,738   122,156
Grupo Financiero Banorte SAB de CV Series O
     58,618   439,591
Grupo Financiero Inbursa SAB de CV Series O (b)(c)
     99,132   207,142
Industrias Penoles SAB de CV
     4,961   62,514
Kimberly-Clark de Mexico SAB de CV Class A
     37,236   52,245
Orbia Advance Corp. SAB de CV
     41,069   108,140
Promotora y Operadora de Infraestructura SAB de CV
     5,588   44,156
Wal-Mart de Mexico SAB de CV
     114,375   469,843
          3,238,206
PERU — 0.3%          
Cia de Minas Buenaventura SAA ADR (b)
     8,018   80,741
Credicorp, Ltd.
     1,583   272,070
Southern Copper Corp.
     1,104   83,794
          436,605
PHILIPPINES — 0.8%          
Aboitiz Equity Ventures, Inc.
     96,010   110,399
Ayala Corp.
     10,540   167,842
Ayala Land, Inc.
     239,480   162,214
 
See accompanying notes to financial statements.
55

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
BDO Unibank, Inc.
     59,855   $ 153,498
SM Investments Corp.
     6,780   119,104
SM Prime Holdings, Inc.
     333,200   243,726
Universal Robina Corp.
     33,140   77,494
          1,034,277
POLAND — 0.7%          
Allegro.eu SA (a)(b)
     4,441   37,907
Bank Polska Kasa Opieki SA
     5,193   140,690
CD Projekt SA
     1,292   53,866
KGHM Polska Miedz SA
     5,700   236,494
Powszechna Kasa Oszczednosci Bank Polski SA (b)
     21,711   207,563
Powszechny Zaklad Ubezpieczen SA
     28,321   230,047
          906,567
QATAR — 1.1%          
Barwa Real Estate Co.
     105,339   101,239
Commercial Bank PQSC
     100,856   206,877
Industries Qatar QSC
     61,880   322,845
Masraf Al Rayan QSC
     190,280   270,130
Qatar National Bank QPSC
     75,655   479,264
          1,380,355
ROMANIA — 0.1%          
NEPI Rockcastle PLC
     11,373   75,550
RUSSIA — 0.0% (d)          
Mobile TeleSystems PJSC ADR (e)
     8,917   —
Polyus PJSC GDR (e)
     1,137   —
Sberbank of Russia PJSC ADR (e)
     66,817   —
TCS Group Holding PLC GDR (b)(e)
     2,150   —
VK Co., Ltd. GDR (b)(e)
     1,648   —
VTB Bank PJSC GDR (e)
     28,063   —
X5 Retail Group NV GDR (e)
     2,256   —
Yandex NV Class A (b)(e)
     5,874   —
          —
SAUDI ARABIA — 4.2%          
Advanced Petrochemical Co.
     6,104   114,709
Al Rajhi Bank
     24,255   1,038,346
Alinma Bank
     10,625   110,031
Almarai Co. JSC
     3,786   51,671
Arab National Bank
     9,033   66,938
Bank AlBilad (b)
     4,320   71,396
Bank Al-Jazira
     11,369   79,854
Banque Saudi Fransi
     11,948   171,027
Bupa Arabia for Cooperative Insurance Co.
     1,233   58,832
Co. for Cooperative Insurance
     2,734   52,618
Dar Al Arkan Real Estate Development Co. (b)
     23,209   67,681
Emaar Economic City (b)
     7,135   22,214
Etihad Etisalat Co.
     9,258   102,414
Jarir Marketing Co.
     1,361   71,469
Security Description     Shares   Value
National Industrialization Co. (b)
     6,112   $ 37,635
Rabigh Refining & Petrochemical Co. (b)
     9,512   71,628
Riyad Bank
     22,652   226,731
SABIC Agri-Nutrients Co.
     2,634   127,645
Sahara International Petrochemical Co.
     16,704   239,106
Saudi Airlines Catering Co. (b)
     2,361   54,061
Saudi Arabian Mining Co. (b)
     10,296   367,763
Saudi Basic Industries Corp.
     12,729   444,489
Saudi British Bank
     17,062   181,012
Saudi Cement Co.
     4,718   76,590
Saudi Electricity Co.
     8,420   59,478
Saudi Industrial Investment Group
     4,115   38,391
Saudi Kayan Petrochemical Co. (b)
     13,709   82,587
Saudi National Bank
     38,199   721,927
Saudi Telecom Co.
     12,203   350,655
Savola Group
     3,825   37,164
Yanbu National Petrochemical Co.
     3,786   67,515
          5,263,577
SOUTH AFRICA — 3.8%          
Absa Group, Ltd.
     15,714   204,795
Anglo American Platinum, Ltd.
     903   123,996
Bid Corp., Ltd.
     10,448   227,386
Bidvest Group, Ltd.
     15,862   242,828
Capitec Bank Holdings, Ltd.
     778   124,669
Clicks Group, Ltd.
     5,164   109,217
FirstRand, Ltd.
     95,953   508,707
Gold Fields, Ltd.
     19,724   307,823
Growthpoint Properties, Ltd. REIT
     76,524   77,087
Harmony Gold Mining Co., Ltd.
     9,105   46,034
Impala Platinum Holdings, Ltd.
     12,275   189,033
MTN Group, Ltd.
     36,503   474,633
Naspers, Ltd. Class N
     4,318   491,748
Nedbank Group, Ltd.
     8,433   134,507
Old Mutual, Ltd.
     23,093   21,762
Remgro, Ltd.
     3,820   39,166
Sanlam, Ltd.
     41,216   203,647
Shoprite Holdings, Ltd.
     12,637   204,665
Sibanye Stillwater, Ltd.
     41,510   169,875
SPAR Group, Ltd.
     13,462   156,348
Standard Bank Group, Ltd. (c)
     30,554   380,845
Tiger Brands, Ltd.
     5,531   61,281
Vodacom Group, Ltd.
     17,673   193,511
Woolworths Holdings, Ltd.
     15,733   62,211
          4,755,774
SOUTH KOREA — 12.9%          
Alteogen, Inc. (b)
     447   20,874
AMOREPACIFIC Group
     895   32,416
Celltrion Healthcare Co., Ltd.
     1,074   57,597
Celltrion Pharm, Inc. (b)
     343   27,677
 
See accompanying notes to financial statements.
56

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Celltrion, Inc.
     2,162   $ 305,914
Coway Co., Ltd.
     2,193   123,939
Doosan Heavy Industries & Construction Co., Ltd. (b)
     5,090   85,880
Green Cross Corp.
     128   21,332
Hana Financial Group, Inc.
     7,696   308,589
Hanwha Solutions Corp. (b)
     1,854   54,990
Helixmith Co., Ltd. (b)
     125   2,202
HLB, Inc. (b)
     1,653   41,801
HMM Co., Ltd.
     4,763   114,551
Hyundai Engineering & Construction Co., Ltd.
     4,355   172,109
Hyundai Glovis Co., Ltd.
     945   150,087
Hyundai Mobis Co., Ltd.
     1,662   294,814
Hyundai Motor Co.
     3,206   477,441
Hyundai Motor Co. Preference Shares
     1,192   84,774
Hyundai Steel Co.
     2,298   78,777
Industrial Bank of Korea
     15,590   139,558
Kakao Corp.
     4,333   380,730
KB Financial Group, Inc.
     9,350   472,881
Kia Corp.
     6,526   398,436
Korea Zinc Co., Ltd.
     474   228,778
KT&G Corp.
     3,338   222,249
Kumho Petrochemical Co., Ltd.
     313   40,027
LG Chem, Ltd.
     1,012   444,193
LG Corp.
     2,378   149,894
LG Electronics, Inc.
     2,820   280,360
LG Household & Health Care, Ltd.
     252   178,389
Lotte Chemical Corp.
     507   87,634
LX Holdings Corp. (b)
     1,128   8,962
NAVER Corp.
     2,645   743,057
NCSoft Corp.
     472   182,055
POSCO Chemtech Co., Ltd.
     313   31,118
POSCO Holdings, Inc.
     1,828   441,899
Samsung Biologics Co., Ltd. (a)(b)
     253   172,626
Samsung C&T Corp.
     1,880   176,824
Samsung Electronics Co., Ltd. Preference Shares
     14,860   772,394
Samsung Electronics Co., Ltd.
     89,673   5,149,326
Samsung Fire & Marine Insurance Co., Ltd.
     860   155,390
Samsung SDI Co., Ltd.
     1,213   596,467
Samsung SDS Co., Ltd.
     1,333   152,321
Seegene, Inc.
     652   27,488
Shin Poong Pharmaceutical Co., Ltd. (b)
     571   18,232
Shinhan Financial Group Co., Ltd.
     11,372   389,372
SK Chemicals Co., Ltd.
     149   16,719
SK Hynix, Inc.
     11,773   1,146,169
SK Square Co., Ltd. (b)
     741   34,725
SK Telecom Co., Ltd.
     1,147   53,846
S-Oil Corp.
     2,122   169,298
Security Description     Shares   Value
Woori Financial Group, Inc.
     16,132   $ 204,304
          16,121,485
TAIWAN — 17.4%          
Accton Technology Corp.
     5,000   38,829
ASE Technology Holding Co., Ltd.
     90,656   327,484
Asustek Computer, Inc.
     25,000   325,899
AU Optronics Corp.
     56,000   38,797
Catcher Technology Co., Ltd.
     3,000   15,130
Cathay Financial Holding Co., Ltd.
     183,092   412,175
Chang Hwa Commercial Bank, Ltd.
     152,983   102,250
China Development Financial Holding Corp.
     766,257   513,486
China Steel Corp.
     330,000   448,615
Chunghwa Telecom Co., Ltd.
     71,000   314,713
Compal Electronics, Inc. (b)
     290,000   271,260
CTBC Financial Holding Co., Ltd.
     401,000   411,476
E.Sun Financial Holding Co., Ltd.
     273,826   315,863
Evergreen Marine Corp. Taiwan, Ltd. (b)
     38,000   179,048
Far Eastern New Century Corp.
     73,000   77,455
First Financial Holding Co., Ltd.
     291,944   289,891
Formosa Chemicals & Fibre Corp.
     69,397   191,346
Formosa Plastics Corp.
     93,000   345,689
Foxconn Technology Co., Ltd.
     54,000   118,360
Fubon Financial Holding Co., Ltd.
     167,381   446,910
Globalwafers Co., Ltd.
     2,000   46,839
Hon Hai Precision Industry Co., Ltd.
     232,980   861,940
Hotai Motor Co., Ltd.
     5,000   104,357
Hua Nan Financial Holdings Co., Ltd.
     365,948   311,008
Innolux Corp.
     92,000   53,945
Largan Precision Co., Ltd.
     1,000   65,791
Lite-On Technology Corp.
     116,000   275,713
MediaTek, Inc. (b)
     29,000   916,008
Mega Financial Holding Co., Ltd.
     253,000   378,818
Nan Ya Plastics Corp.
     144,000   468,415
Nan Ya Printed Circuit Board Corp.
     4,000   73,155
Novatek Microelectronics Corp.
     8,000   119,086
Oneness Biotech Co., Ltd. (b)
     2,000   14,973
Pegatron Corp.
     54,000   136,454
President Chain Store Corp. (b)
     10,394   95,409
Quanta Computer, Inc.
     52,000   160,257
Realtek Semiconductor Corp.
     8,000   120,203
SinoPac Financial Holdings Co., Ltd.
     535,794   344,087
Taishin Financial Holding Co., Ltd.
     481,530   344,532
Taiwan Cement Corp.
     174,956   304,707
 
See accompanying notes to financial statements.
57

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Taiwan Cooperative Financial Holding Co., Ltd.
     333,701   $ 344,166
Taiwan Mobile Co., Ltd.
     36,000   131,930
Taiwan Semiconductor Manufacturing Co., Ltd.
     452,734   9,433,440
Unimicron Technology Corp.
     15,000   130,360
Uni-President Enterprises Corp.
     144,000   329,700
United Microelectronics Corp.
     280,602   528,856
Yang Ming Marine Transport Corp. (b)
     23,000   99,942
Yuanta Financial Holding Co., Ltd.
     405,400   373,543
          21,752,310
THAILAND — 1.6%          
Advanced Info Service PCL NVDR
     47,400   332,157
Airports of Thailand PCL NVDR (b)
     161,400   321,587
Bangkok Dusit Medical Services PCL NVDR
     299,700   225,338
BTS Group Holdings PCL
     490,600   135,745
CP ALL PCL NVDR
     151,500   296,165
Delta Electronics Thailand PCL
     5,200   60,680
Minor International PCL NVDR (b)
     154,552   155,714
PTT Global Chemical PCL NVDR
     104,574   159,613
Siam Cement PCL
     14,400   165,870
Siam Commercial Bank PCL NVDR
     54,600   187,200
          2,040,069
TURKEY — 0.1%          
BIM Birlesik Magazalar A/S
     16,958   97,867
Turk Hava Yollari AO (b)
     1,220   2,691
Turkcell Iletisim Hizmetleri A/S
     29,214   44,893
Turkiye Is Bankasi A/S Class C
     69,916   42,090
          187,541
UNITED ARAB EMIRATES — 1.1%          
Abu Dhabi Commercial Bank PJSC
     110,369   314,906
Abu Dhabi Islamic Bank PJSC
     27,133   64,637
Aldar Properties PJSC
     242,949   326,088
Dubai Islamic Bank PJSC
     33,813   56,799
Emirates NBD Bank PJSC
     15,627   63,818
Emirates Telecommunications Group Co. PJSC
     37,371   376,045
First Abu Dhabi Bank PJSC
     33,427   214,774
          1,417,067
UNITED STATES — 0.2%          
JBS SA
     26,809   210,040
TOTAL COMMON STOCKS

(Cost $115,860,794)
         124,369,573
    
Security Description     Shares   Value
RIGHTS — 0.0% (d)        
SOUTH KOREA — 0.0% (d)          
Samsung Biologics Co., Ltd. (expiring 4/8/22) (b)

(Cost: $0)
     18   $ 2,792
WARRANTS — 0.0% (d)        
THAILAND — 0.0% (d)          
BTS Group Holdings PCL (expiring 11/20/26) (b)
     125,360   1,960
BTS Group Holdings PCL (expiring 11/7/24) (b)
     62,680   1,037
BTS Group Holdings PCL (expiring 9/5/22) (b)
     31,340   462
Minor International PCL (expiring 02/15/24) (b)
     5,575   557
TOTAL WARRANTS

(Cost $0)
         4,016
SHORT-TERM INVESTMENTS — 1.2%      
State Street Navigator Securities Lending Portfolio II (f)(g)
   1,484,134   1,484,134
TOTAL SHORT-TERM INVESTMENTS

(Cost $1,484,134)
   1,484,134  
TOTAL INVESTMENTS — 101.0%

(Cost $117,344,928)
   125,860,515  
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%
  (1,236,732)  
NET ASSETS — 100.0%
  $ 124,623,783  
(a) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 3.8% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(b) Non-income producing security.
(c) All or a portion of the shares of the security are on loan at March 31, 2022.
(d) Amount is less than 0.05% of net assets.
(e) Fair valued as determined in good faith by the Trust's Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2022, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(f) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(g) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
REIT Real Estate Investment Trust
 
See accompanying notes to financial statements.
58

Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $124,007,278   $362,295   $ 0(a)   $124,369,573
Rights
   —   2,792   —   2,792
Warrants
   4,016   —   —   4,016
Short-Term Investments
   1,484,134   —   —   1,484,134
TOTAL INVESTMENTS
   $125,495,428   $365,087   $ 0   $125,860,515
(a) Fund held Level 3 securities that were valued at $0 at March 31, 2022.
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Financials 24.5%
  Information Technology 23.0
  Consumer Discretionary 12.6
  Communication Services 10.8
  Materials 8.0
  Consumer Staples 6.3
  Industrials 5.6
  Health Care 4.2
  Real Estate 2.3
  Utilities 2.1
  Energy 0.4
  Short-Term Investments 1.2
  Liabilities in Excess of Other Assets (1.0)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 220,925   $ 220,969   $2,880,539   $3,101,467   $(41)   $—   —   $ —   $ 33
State Street Navigator Securities Lending Portfolio II
 1,472,763   1,472,763   5,922,088   5,910,717   —   —   1,484,134   1,484,134   2,322
Total
     $1,693,732   $8,802,627   $9,012,184   $(41)   $—       $1,484,134   $2,355
See accompanying notes to financial statements.
59

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.7%        
BRAZIL — 5.9%          
Ambev SA ADR (a)
     6,357   $ 20,534
Ambev SA
     3,120   10,111
Americanas SA
     313   2,150
Atacadao SA
     2,189   10,374
B3 SA - Brasil Bolsa Balcao
     7,175   23,721
Banco Bradesco SA Preference Shares
     27,833   130,146
Banco Bradesco SA
     6,209   23,872
Banco do Brasil SA
     6,202   45,289
Banco Santander Brasil SA
     1,625   12,612
BB Seguridade Participacoes SA
     25,740   138,451
BRF SA (a)
     2,088   8,168
BRF SA ADR (a)
     679   2,696
CCR SA
     1,284   3,702
Centrais Eletricas Brasileiras SA
     1,327   10,606
Centrais Eletricas Brasileiras SA ADR (b)
     1,257   9,905
Centrais Eletricas Brasileiras SA Class B, Preference Shares
     151   1,192
Cia de Saneamento Basico do Estado de Sao Paulo
     82   823
Cia de Saneamento Basico do Estado de Sao Paulo ADR
     1,140   11,206
Cia Energetica de Minas Gerais ADR
     2,818   9,074
Cia Energetica de Minas Gerais Preference Shares
     1,744   5,582
Cia Siderurgica Nacional SA ADR (a)(b)
     6,919   37,501
Cia Siderurgica Nacional SA
     406   2,224
Cosan SA
     2,584   12,860
Energisa SA
     515   5,290
Engie Brasil Energia SA
     2,166   19,709
Equatorial Energia SA
     7,870   45,064
Gerdau SA Preference Shares
     8,278   53,672
Hapvida Participacoes e Investimentos SA (c)
     6,761   16,847
Hypera SA
     2,446   19,925
Itau Unibanco Holding SA Preference Shares ADR (a)
     23,125   132,044
Itau Unibanco Holding SA Preference Shares
     541   3,129
Itausa SA Preference Shares
     27,853   63,010
Klabin SA
     2,639   13,395
Localiza Rent a Car SA
     954   12,266
Lojas Renner SA
     5,612   32,477
Magazine Luiza SA
     2,220   3,186
Natura & Co. Holding SA (a)
     395   2,165
Petroleo Brasileiro SA Preference Shares ADR
     12,184   170,332
Petroleo Brasileiro SA ADR
     8,242   121,982
Security Description     Shares   Value
Petroleo Brasileiro SA Preference Shares
     182   $ 1,281
Raia Drogasil SA
     5,487   27,643
Rumo SA (a)
     3,671   14,330
Suzano SA
     764   8,867
Suzano SA ADR
     20   232
Telefonica Brasil SA
     1,503   16,982
Telefonica Brasil SA ADR (b)
     3,717   41,816
TIM SA ADR
     753   10,919
TIM SA
     237   688
TOTVS SA
     1,710   13,091
Ultrapar Participacoes SA
     74   220
Ultrapar Participacoes SA ADR (b)
     4,632   14,035
Vale SA ADR
     129,837   2,595,442
Vale SA
     2,429   48,867
Vibra Energia SA
     8,790   43,248
WEG SA
     44,556   326,954
          4,411,907
CHILE — 0.2%          
Banco de Chile
     336,295   36,000
Banco de Chile ADR
     620   13,286
Banco de Credito e Inversiones SA (a)
     645   23,233
Banco Santander Chile ADR
     411   9,284
Banco Santander Chile
     16,726   942
Cencosud SA
     11,857   23,355
Empresas CMPC SA
     4,351   8,056
Empresas COPEC SA
     1,726   14,257
Enel Americas SA ADR (b)
     1,191   7,110
Enel Americas SA
     11,484   1,386
Enel Chile SA ADR
     453   716
Enel Chile SA
     11,039   330
Falabella SA
     2,930   9,364
Sociedad Quimica y Minera de Chile SA ADR
     180   15,408
          162,727
CHINA — 27.1%          
360 Security Technology, Inc. Class A (a)
     24,700   38,831
3SBio, Inc. (a)(c)
     7,390   6,039
51job, Inc. ADR (a)(b)
     487   28,514
AAC Technologies Holdings, Inc. (a)(b)
     8,500   20,600
Addsino Co., Ltd. Class A
     7,500   12,854
Agile Group Holdings, Ltd. (b)
     24,000   12,166
Agricultural Bank of China, Ltd. Class A
     190,400   92,379
Agricultural Bank of China, Ltd. Class H
     901,000   346,299
Air China, Ltd. Class H (a)(b)
     34,000   23,835
Alibaba Group Holding, Ltd. ADR (a)
     2,296   249,805
Alibaba Group Holding, Ltd. (a)
     27,149   388,615
A-Living Smart City Services Co., Ltd. (b)(c)
     9,750   13,645
 
See accompanying notes to financial statements.
60

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Aluminum Corp. of China, Ltd. Class H (a)
     44,000   $ 25,845
Anhui Conch Cement Co., Ltd. Class A
     11,600   72,161
Anhui Conch Cement Co., Ltd. Class H
     32,000   164,670
Anhui Gujing Distillery Co., Ltd. Class A
     200   5,399
Anhui Gujing Distillery Co., Ltd. Class B
     7,200   93,078
Anhui Kouzi Distillery Co., Ltd. Class A
     600   5,108
ANTA Sports Products, Ltd.
     29,800   374,431
Apeloa Pharmaceutical Co., Ltd. Class A
     5,100   25,114
Autohome, Inc. ADR
     687   20,892
AviChina Industry & Technology Co., Ltd. Class H
     23,000   12,775
Baidu, Inc. ADR (a)
     792   104,782
Bank of Beijing Co., Ltd. Class A
     63,700   45,958
Bank of Chengdu Co., Ltd. Class A
     7,700   18,219
Bank of China, Ltd. Class A
     218,100   112,347
Bank of China, Ltd. Class H
     2,149,071   864,414
Bank of Communications Co., Ltd. Class A
     131,600   105,933
Bank of Communications Co., Ltd. Class H
     151,000   108,361
Bank of Hangzhou Co., Ltd. Class A
     9,000   19,976
Bank of Jiangsu Co., Ltd. Class A
     40,560   45,045
Bank of Nanjing Co., Ltd. Class A
     12,000   20,170
Bank of Ningbo Co., Ltd. Class A
     7,700   45,353
Bank of Shanghai Co., Ltd. Class A
     42,470   44,423
Baoshan Iron & Steel Co., Ltd. Class A
     12,700   13,504
BeiGene, Ltd. ADR (a)(b)
     284   53,562
Beijing Capital International Airport Co., Ltd. Class H (a)
     42,000   24,616
Beijing Enterprises Holdings, Ltd.
     13,000   41,251
Beijing Enterprises Water Group, Ltd.
     40,000   12,309
Beijing Sinnet Technology Co., Ltd. Class A
     7,200   15,039
Beijing Tiantan Biological Products Corp., Ltd. Class A
     7,140   27,759
Beijing Wantai Biological Pharmacy Enterprise Co., Ltd. Class A
     800   35,034
BOE Technology Group Co., Ltd. Class A
     30,800   20,911
BYD Co., Ltd. Class H
     2,500   71,635
Security Description     Shares   Value
BYD Electronic International Co., Ltd. (b)
     5,000   $ 10,088
CGN Power Co., Ltd. Class H (c)
     407,100   106,565
Changchun High & New Technology Industry Group, Inc. Class A
     1,500   39,661
Chaozhou Three-Circle Group Co., Ltd. Class A
     2,300   10,141
Chifeng Jilong Gold Mining Co., Ltd. Class A (a)
     7,500   21,420
China Bohai Bank Co., Ltd. Class H (b)(c)
     10,500   1,743
China Cinda Asset Management Co., Ltd. Class H
     64,548   11,045
China CITIC Bank Corp., Ltd. Class H
     212,000   107,470
China Coal Energy Co., Ltd. Class H
     36,000   27,076
China Common Rich Renewable Energy Investment, Ltd. (d)
     598,000   —
China Communications Services Corp., Ltd. Class H
     42,000   19,039
China Conch Venture Holdings, Ltd.
     21,500   62,869
China Construction Bank Corp. Class A
     43,400   43,003
China Construction Bank Corp. Class H
     1,534,394   1,154,019
China Everbright Bank Co., Ltd. Class A
     21,800   11,333
China Everbright Bank Co., Ltd. Class H
     109,274   41,441
China Everbright Environment Group, Ltd.
     22,888   13,853
China Evergrande Group (b)
     117,625   24,782
China Feihe, Ltd. (c)
     128,000   126,833
China Galaxy Securities Co., Ltd. Class H
     32,834   18,406
China Gas Holdings, Ltd.
     13,600   17,435
China Hongqiao Group, Ltd. (b)
     26,500   35,395
China International Capital Corp., Ltd. Class H (c)
     9,600   21,428
China Jinmao Holdings Group, Ltd. (a)
     46,000   13,686
China Life Insurance Co., Ltd. Class H
     66,000   101,468
China Longyuan Power Group Corp., Ltd. Class H
     12,000   27,336
China Medical System Holdings, Ltd.
     36,733   57,880
China Meidong Auto Holdings, Ltd.
     12,000   45,969
China Mengniu Dairy Co., Ltd. (a)
     20,000   107,771
 
See accompanying notes to financial statements.
61

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
China Merchants Bank Co., Ltd. Class A
     4,791   $ 35,321
China Merchants Bank Co., Ltd. Class H
     24,000   188,625
China Merchants Port Holdings Co., Ltd.
     27,581   50,010
China Minsheng Banking Corp., Ltd. Class A
     110,000   66,193
China Minsheng Banking Corp., Ltd. Class H (b)
     79,960   30,120
China Molybdenum Co., Ltd. Class H
     33,000   17,234
China National Building Material Co., Ltd. Class H
     50,000   62,186
China National Medicines Corp., Ltd. Class A
     4,000   18,481
China National Nuclear Power Co., Ltd. Class A
     3,300   4,216
China Oilfield Services, Ltd. Class H
     8,000   8,203
China Overseas Land & Investment, Ltd.
     40,500   121,271
China Overseas Property Holdings, Ltd.
     50,000   59,504
China Pacific Insurance Group Co., Ltd. Class A
     4,000   14,442
China Pacific Insurance Group Co., Ltd. Class H
     13,000   31,739
China Petroleum & Chemical Corp. Class A
     45,300   30,827
China Petroleum & Chemical Corp. Class H
     432,395   216,987
China Power International Development, Ltd.
     35,000   18,637
China Railway Group, Ltd. Class A
     24,800   23,557
China Railway Group, Ltd. Class H
     80,000   44,845
China Resources Beer Holdings Co., Ltd.
     26,092   160,089
China Resources Cement Holdings, Ltd.
     24,000   20,012
China Resources Gas Group, Ltd.
     20,000   84,915
China Resources Land, Ltd.
     18,444   85,962
China Resources Power Holdings Co., Ltd.
     16,267   30,617
China Shenhua Energy Co., Ltd. Class A
     10,100   47,365
China Shenhua Energy Co., Ltd. Class H
     31,000   99,356
China Southern Airlines Co., Ltd. Class H (a)(b)
     18,000   10,481
China State Construction Engineering Corp., Ltd. Class A
     21,500   18,424
China State Construction International Holdings, Ltd.
     30,000   40,146
Security Description     Shares   Value
China Taiping Insurance Holdings Co., Ltd.
     12,610   $ 15,442
China Tourism Group Duty Free Corp., Ltd. Class A
     6,400   165,714
China Tower Corp., Ltd. Class H (c)
     1,348,000   151,472
China Traditional Chinese Medicine Holdings Co., Ltd.
     36,000   18,847
China United Network Communications, Ltd. Class A
     99,200   55,787
China Vanke Co., Ltd. Class A
     2,300   6,938
China Vanke Co., Ltd. Class H
     15,592   35,320
China Yangtze Power Co., Ltd. Class A
     87,800   304,280
China Zhenhua Group Science & Technology Co., Ltd. Class A
     1,100   19,650
China Zheshang Bank Co., Ltd. Class A
     40,600   21,233
Chongqing Brewery Co., Ltd. Class A (a)
     800   13,513
Chongqing Zhifei Biological Products Co., Ltd. Class A
     1,000   21,739
CIFI Holdings Group Co., Ltd.
     23,324   13,730
CITIC Securities Co., Ltd. Class H
     13,800   31,859
CITIC, Ltd.
     110,000   122,341
COSCO SHIPPING Holdings Co., Ltd. Class H (a)
     14,250   24,856
COSCO SHIPPING Ports, Ltd.
     43,072   33,549
Country Garden Holdings Co., Ltd. (b)
     97,635   75,177
Country Garden Services Holdings Co., Ltd.
     3,000   12,871
CRRC Corp., Ltd. Class H
     38,000   15,236
CSPC Pharmaceutical Group, Ltd.
     241,840   279,471
Daan Gene Co., Ltd. Class A
     4,400   12,927
Dali Foods Group Co., Ltd. (c)
     75,500   39,623
Daqo New Energy Corp. ADR (a)
     1,372   56,691
Dongfeng Motor Group Co., Ltd. Class H
     38,000   28,580
ENN Energy Holdings, Ltd.
     6,500   97,524
Far East Horizon, Ltd.
     21,000   18,771
Fiberhome Telecommunication Technologies Co., Ltd. Class A
     4,000   9,534
Focus Media Information Technology Co., Ltd. Class A
     7,500   7,219
Foshan Haitian Flavouring & Food Co., Ltd. Class A
     8,294   114,217
Fosun International, Ltd.
     10,000   10,892
Founder Securities Co., Ltd. Class A
     27,900   29,622
Foxconn Industrial Internet Co., Ltd. Class A
     7,700   12,312
 
See accompanying notes to financial statements.
62

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Fuyao Glass Industry Group Co., Ltd. Class A
     2,400   $ 13,452
Fuyao Glass Industry Group Co., Ltd. Class H (c)
     3,600   14,802
G-bits Network Technology Xiamen Co., Ltd. Class A
     400   22,715
GCL System Integration Technology Co., Ltd. Class A (a)
     7,700   4,355
GDS Holdings, Ltd. ADR (a)
     48   1,884
Geely Automobile Holdings, Ltd.
     18,000   28,409
GF Securities Co., Ltd. Class H
     5,000   7,100
Giant Network Group Co., Ltd. Class A
     7,400   11,750
GOME Retail Holdings, Ltd. (a)(b)
     158,000   9,886
Great Wall Motor Co., Ltd. Class H
     7,000   11,227
Greentown Service Group Co., Ltd.
     20,000   20,124
Guangdong Haid Group Co., Ltd. Class A
     6,400   55,349
Guangdong Investment, Ltd.
     58,000   79,393
Guangzhou Automobile Group Co., Ltd. Class H
     35,200   29,396
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class A
     4,400   21,736
Guangzhou Haige Communications Group, Inc. Co. Class A
     2,700   4,351
Guangzhou Kingmed Diagnostics Group Co., Ltd. Class A
     900   10,413
Guangzhou R&F Properties Co., Ltd. Class H (b)
     42,800   15,193
Guangzhou Shiyuan Electronic Technology Co., Ltd. Class A
     1,400   14,141
Haidilao International Holding, Ltd. (a)(b)(c)
     1,000   1,961
Haier Smart Home Co., Ltd. Class H
     4,400   14,299
Haitian International Holdings, Ltd.
     14,000   36,379
Haitong Securities Co., Ltd. Class H
     15,200   11,607
Hangzhou First Applied Material Co., Ltd. Class A
     800   14,302
Hangzhou Tigermed Consulting Co., Ltd. Class H (c)
     3,500   42,636
Hansoh Pharmaceutical Group Co., Ltd. (c)
     44,000   73,714
Hello Group, Inc. ADR
     194   1,121
Henan Shuanghui Investment & Development Co., Ltd. Class A
     8,900   40,742
Security Description     Shares   Value
Hengan International Group Co., Ltd.
     10,374   $ 47,953
Hengtong Optic-electric Co., Ltd. Class A
     7,500   15,323
Hesteel Co., Ltd. Class A
     32,211   12,076
Hithink Royal Flush Information Network Co., Ltd. Class A
     1,900   28,673
Hopson Development Holdings, Ltd.
     3,560   6,773
Huadian Power International Corp., Ltd. Class A
     18,900   10,540
Huadong Medicine Co., Ltd. Class A
     2,460   12,951
Hualan Biological Engineering, Inc. Class A
     6,640   21,244
Huaneng Power International, Inc. Class A
     12,700   13,824
Huaneng Power International, Inc. Class H (a)(b)
     44,000   18,822
Huatai Securities Co., Ltd. Class H (c)
     4,043   6,226
Huaxia Bank Co., Ltd. Class A
     45,000   39,413
Huayu Automotive Systems Co., Ltd. Class A
     2,500   7,857
Huazhu Group, Ltd. ADR
     74   2,441
Hundsun Technologies, Inc. Class A
     3,300   23,112
Hutchmed China, Ltd. ADR (a)(b)
     239   4,522
Iflytek Co., Ltd. Class A
     8,800   64,557
Industrial & Commercial Bank of China, Ltd. Class A
     47,900   35,992
Industrial & Commercial Bank of China, Ltd. Class H
     1,211,448   744,064
Industrial Bank Co., Ltd. Class A
     31,400   102,241
Inner Mongolia BaoTou Steel Union Co., Ltd. Class A (a)
     144,100   50,620
Inner Mongolia Yili Industrial Group Co., Ltd. Class A
     11,700   67,991
Inspur Electronic Information Industry Co., Ltd. Class A
     5,300   22,667
Intco Medical Technology Co., Ltd. Class A
     750   5,463
iQIYI, Inc. ADR (a)(b)
     588   2,670
Jafron Biomedical Co., Ltd. Class A
     2,190   15,659
Jason Furniture Hangzhou Co., Ltd. Class A
     800   7,726
JD.com, Inc. Class A (a)
     8,362   249,854
Jiangsu Expressway Co., Ltd. Class H
     72,000   75,389
Jiangsu Hengli Hydraulic Co., Ltd. Class A
     1,600   13,119
Jiangsu Hengrui Medicine Co., Ltd. Class A
     25,542   148,148
Jiangsu King's Luck Brewery JSC, Ltd. Class A
     2,000   13,264
 
See accompanying notes to financial statements.
63

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. Class A
     2,600   $ 55,550
Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Class A
     2,300   10,083
Jiangsu Zhongtian Technology Co., Ltd. Class A
     13,200   35,349
Jiangxi Copper Co., Ltd. Class H
     21,000   35,235
JiuGui Liquor Co., Ltd. Class A
     600   13,979
Joinn Laboratories China Co., Ltd. Class A
     560   10,153
Jointown Pharmaceutical Group Co., Ltd. Class A
     7,600   15,899
Jonjee Hi-Tech Industrial & Commercial Holding Co., Ltd. Class A
     1,100   4,878
JOYY, Inc. ADR
     242   8,889
Juewei Food Co., Ltd. Class A
     500   3,318
KE Holdings, Inc. ADR (a)
     1,152   14,250
Kingboard Holdings, Ltd.
     9,000   43,785
Kingdee International Software Group Co., Ltd. (a)
     14,000   31,141
Kingsoft Corp., Ltd.
     3,000   9,730
Kuaishou Technology (a)(c)
     12,500   118,433
Kunlun Energy Co., Ltd.
     42,000   36,629
Kweichow Moutai Co., Ltd. Class A
     2,200   595,737
KWG Group Holdings, Ltd. (a)(b)
     13,500   5,585
Lee & Man Paper Manufacturing, Ltd.
     21,000   10,967
Lenovo Group, Ltd. (b)
     90,915   98,909
Lepu Medical Technology Beijing Co., Ltd. Class A
     2,500   7,943
Li Ning Co., Ltd.
     55,500   479,071
Logan Group Co., Ltd. (b)
     16,000   4,556
Longfor Group Holdings, Ltd. (c)
     8,000   41,168
Luxshare Precision Industry Co., Ltd. Class A
     11,889   59,369
Luzhou Laojiao Co., Ltd. Class A
     2,800   81,987
Maxscend Microelectronics Co., Ltd. Class A
     500   16,534
Meituan Class B (a)(c)
     2,400   47,685
Metallurgical Corp. of China, Ltd. Class A
     21,900   12,937
Microport Scientific Corp. (a)(b)
     1,604   3,642
Ming Yuan Cloud Group Holdings, Ltd. (b)
     2,000   2,753
NavInfo Co., Ltd. Class A (a)
     4,900   10,783
NetEase, Inc.
     5,535   101,634
New China Life Insurance Co., Ltd. Class H
     3,700   10,347
New Oriental Education & Technology Group, Inc. ADR (a)
     8,934   10,274
Security Description     Shares   Value
Ningxia Baofeng Energy Group Co., Ltd. Class A
     4,400   $ 10,300
NIO, Inc. ADR (a)
     252   5,305
Noah Holdings, Ltd. ADR (a)
     266   6,259
Nongfu Spring Co., Ltd. Class H (c)
     57,800   308,138
Oppein Home Group, Inc. Class A
     480   8,847
Ovctek China, Inc. Class A
     2,260   13,005
People's Insurance Co. Group of China, Ltd. Class H
     80,000   26,253
Perfect World Co., Ltd. Class A
     1,850   3,748
PetroChina Co., Ltd. Class A
     31,500   27,391
PetroChina Co., Ltd. Class H
     300,000   155,528
Pharmaron Beijing Co., Ltd. Class H (c)
     600   7,313
PICC Property & Casualty Co., Ltd. Class H
     60,270   61,721
Pinduoduo, Inc. ADR (a)
     745   29,882
Ping An Bank Co., Ltd. Class A
     2,200   5,330
Ping An Insurance Group Co. of China, Ltd. Class A
     2,300   17,554
Ping An Insurance Group Co. of China, Ltd. Class H
     66,500   472,550
Poly Developments & Holdings Group Co., Ltd. Class A
     2,500   6,971
Postal Savings Bank of China Co., Ltd. Class H (c)
     320,000   259,468
Power Construction Corp. of China, Ltd. Class A
     7,300   8,383
SAIC Motor Corp., Ltd. Class A
     7,300   19,549
Sangfor Technologies, Inc. Class A
     900   15,816
SDIC Power Holdings Co., Ltd. Class A
     31,300   46,052
Seazen Group, Ltd. (a)
     29,333   15,806
SF Holding Co., Ltd. Class A
     4,300   30,956
SG Micro Corp. Class A
     400   20,574
Shaanxi Coal Industry Co., Ltd. Class A
     7,500   19,435
Shandong Gold Mining Co., Ltd. Class A
     16,552   56,059
Shandong Gold Mining Co., Ltd. Class H (b)(c)
     31,000   61,989
Shandong Nanshan Aluminum Co., Ltd. Class A
     24,700   15,836
Shandong Weigao Group Medical Polymer Co., Ltd. Class H
     28,800   30,854
Shanghai Baosight Software Co., Ltd. Class A
     2,200   16,895
Shanghai Baosight Software Co., Ltd. Class B
     32,400   131,868
Shanghai Construction Group Co., Ltd. Class A
     31,200   16,022
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H
     4,500   22,008
 
See accompanying notes to financial statements.
64

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Shanghai Jahwa United Co., Ltd. Class A
     800   $ 4,345
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B
     92,552   86,629
Shanghai M&G Stationery, Inc. Class A
     4,000   30,800
Shanghai Pharmaceuticals Holding Co., Ltd. Class H
     20,900   40,298
Shanghai Pudong Development Bank Co., Ltd. Class A
     56,724   71,485
Shanghai RAAS Blood Products Co., Ltd. Class A
     12,400   11,701
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A
     2,160   86,732
Shennan Circuits Co., Ltd. Class A
     480   6,862
Shenzhen Energy Group Co., Ltd. Class A
     5,240   5,308
Shenzhen Goodix Technology Co., Ltd. Class A
     1,700   18,987
Shenzhen Inovance Technology Co., Ltd. Class A
     300   2,694
Shenzhen International Holdings, Ltd.
     11,107   11,743
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A
     3,200   154,881
Shenzhou International Group Holdings, Ltd.
     24,500   327,860
Shimao Group Holdings, Ltd. (b)
     23,000   12,981
Sichuan Chuantou Energy Co., Ltd. Class A
     20,999   35,527
Sichuan Swellfun Co., Ltd. Class A
     1,500   19,463
Silergy Corp.
     2,000   239,429
Sinopec Shanghai Petrochemical Co., Ltd. Class A
     31,016   17,198
Sinopharm Group Co., Ltd. Class H
     22,000   50,229
Sinotruk Hong Kong, Ltd.
     6,500   9,960
Smoore International Holdings, Ltd. (b)(c)
     39,000   93,623
Songcheng Performance Development Co., Ltd. Class A
     11,440   23,806
Sun Art Retail Group, Ltd. (b)
     16,832   6,125
Sunac China Holdings, Ltd. (b)
     44,697   26,140
Suning.com Co., Ltd. Class A (a)
     29,100   15,815
Sunny Optical Technology Group Co., Ltd.
     19,193   309,043
TAL Education Group ADR (a)
     1,413   4,253
Tencent Holdings, Ltd.
     10,878   519,773
Tencent Music Entertainment Group ADR (a)
     3,284   15,993
Security Description     Shares   Value
Tianjin 712 Communication & Broadcasting Co., Ltd. Class A
     2,800   $ 15,297
Tianjin Zhonghuan Semiconductor Co., Ltd. Class A
     3,300   22,197
Tianshui Huatian Technology Co., Ltd. Class A
     9,200   15,232
Tingyi Cayman Islands Holding Corp.
     2,000   3,371
Toly Bread Co., Ltd. Class A
     3,800   12,044
Tongling Nonferrous Metals Group Co., Ltd. Class A
     19,000   11,134
Topchoice Medical Corp. Class A (a)
     1,900   42,824
Topsports International Holdings, Ltd. (c)
     36,000   30,110
TravelSky Technology, Ltd. Class H
     18,000   25,972
Trip.com Group, Ltd. ADR (a)
     1,105   25,548
Tsingtao Brewery Co., Ltd. Class H
     2,000   15,910
Unigroup Guoxin Microelectronics Co., Ltd. Class A
     700   22,554
Vipshop Holdings, Ltd. ADR (a)
     4,101   36,909
Walvax Biotechnology Co., Ltd. Class A
     3,300   28,524
Want Want China Holdings, Ltd.
     150,000   138,673
Weibo Corp. ADR (a)
     315   7,721
Weichai Power Co., Ltd. Class H
     12,000   18,970
Wens Foodstuffs Group Co., Ltd. Class A (a)
     4,880   16,951
Wuhu Sanqi Interactive Entertainment Network Technology Group Co., Ltd. Class A
     3,900   14,407
Wuliangye Yibin Co., Ltd. Class A
     5,900   144,115
WuXi AppTec Co., Ltd. Class A
     1,242   21,987
WuXi AppTec Co., Ltd. Class H (c)
     2,120   33,703
Wuxi Biologics Cayman, Inc. (a)(c)
     5,500   45,685
Xiaomi Corp. Class B (a)(c)
     63,400   112,853
Xinjiang Goldwind Science & Technology Co., Ltd. Class H
     4,000   6,037
Xinyi Solar Holdings, Ltd.
     3,501   6,178
Yadea Group Holdings, Ltd. (c)
     36,000   55,714
Yankuang Energy Group Co., Ltd. Class H
     22,000   65,314
Yantai Eddie Precision Machinery Co., Ltd. Class A
     1,680   6,312
Yantai Jereh Oilfield Services Group Co., Ltd. Class A
     400   2,656
 
See accompanying notes to financial statements.
65

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Yealink Network Technology Corp., Ltd. Class A
     1,950   $ 23,883
Yihai International Holding, Ltd. (a)(b)
     13,000   37,350
Yonghui Superstores Co., Ltd. Class A
     7,300   4,853
Yuexiu Property Co., Ltd.
     9,200   9,151
Yum China Holdings, Inc.
     5,514   229,052
Yunnan Baiyao Group Co., Ltd. Class A
     2,100   27,067
Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. Class A
     1,200   59,967
Zhejiang Dahua Technology Co., Ltd. Class A
     2,300   5,996
Zhejiang Dingli Machinery Co., Ltd. Class A
     700   4,950
Zhejiang Expressway Co., Ltd. Class H
     14,000   11,763
Zhejiang Supor Co., Ltd. Class A (a)
     2,500   19,703
Zhejiang Weixing New Building Materials Co., Ltd. Class A
     2,800   9,024
Zhejiang Wolwo Bio-Pharmaceutical Co., Ltd. Class A
     2,200   13,447
Zhongsheng Group Holdings, Ltd.
     11,000   77,815
Zhuzhou CRRC Times Electric Co., Ltd.
     1,500   5,890
Zijin Mining Group Co., Ltd. Class A
     15,400   27,510
Zijin Mining Group Co., Ltd. Class H
     14,000   21,559
Zoomlion Heavy Industry Science & Technology Co., Ltd. Class A (a)
     3,447   3,605
ZTE Corp. Class A
     12,900   48,567
ZTE Corp. Class H
     13,080   26,757
ZTO Express Cayman, Inc. ADR
     3,358   83,950
          20,202,415
COLOMBIA — 0.1%          
Bancolombia SA ADR
     331   14,121
Bancolombia SA
     967   11,175
Bancolombia SA Preference Shares
     565   6,067
Ecopetrol SA ADR (b)
     370   6,882
Ecopetrol SA
     8,677   8,178
Interconexion Electrica SA ESP
     1,853   11,996
          58,419
CZECH REPUBLIC — 0.2%          
CEZ A/S
     1,138   48,003
Komercni banka A/S
     1,661   64,844
Moneta Money Bank A/S (c)
     8,671   35,371
          148,218
Security Description     Shares   Value
EGYPT — 0.2%          
Commercial International Bank Egypt SAE GDR (a)
     65,053   $ 152,224
Eastern Co SAE
     31,952   20,993
          173,217
GREECE — 0.3%          
Alpha Services & Holdings SA (a)
     15,790   19,607
FF Group (a)(d)
     491   —
Hellenic Telecommunications Organization SA
     6,814   124,338
JUMBO SA
     1,427   21,435
OPAP SA
     5,773   84,788
          250,168
HONG KONG — 0.4%          
Alibaba Pictures Group, Ltd. (a)
     30,000   2,490
China Huishan Dairy Holdings Co., Ltd. (d)
     1,072,393   —
Kingboard Laminates Holdings, Ltd.
     22,500   37,062
Nine Dragons Paper Holdings, Ltd.
     20,000   17,468
Sino Biopharmaceutical, Ltd.
     325,000   202,933
          259,953
HUNGARY — 0.3%          
MOL Hungarian Oil & Gas PLC
     5,490   48,736
OTP Bank Nyrt (a)
     1,742   64,100
Richter Gedeon Nyrt
     4,727   100,538
          213,374
INDIA — 16.1%          
ACC, Ltd.
     1,639   46,533
Adani Ports & Special Economic Zone, Ltd.
     1,173   11,985
Adani Total Gas, Ltd.
     6,719   190,624
Ambuja Cements, Ltd.
     834   3,294
Apollo Hospitals Enterprise, Ltd.
     261   15,555
Asian Paints, Ltd.
     15,052   611,803
Aurobindo Pharma, Ltd.
     954   8,417
Axis Bank, Ltd. (a)
     6,022   60,490
Bajaj Auto, Ltd.
     2,877   138,696
Bajaj Finserv, Ltd.
     80   18,012
Balkrishna Industries, Ltd.
     1,821   51,336
Bandhan Bank, Ltd. (c)
     2,121   8,604
Berger Paints India, Ltd.
     6,283   58,017
Bharat Electronics, Ltd.
     30,196   84,003
Bharat Forge, Ltd.
     228   2,108
Bharat Petroleum Corp., Ltd.
     6,535   30,991
Bharti Airtel, Ltd. (a)
     10,121   100,836
Britannia Industries, Ltd.
     4,611   195,113
Cipla, Ltd.
     7,927   106,501
Coal India, Ltd.
     48,262   116,587
Colgate-Palmolive India, Ltd.
     4,269   86,887
 
See accompanying notes to financial statements.
66

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Container Corp. Of India, Ltd.
     139   $ 1,233
Dabur India, Ltd.
     32,540   230,260
Divi's Laboratories, Ltd.
     4,291   249,280
Dr Reddy's Laboratories, Ltd. ADR
     1,706   95,075
Dr Reddy's Laboratories, Ltd.
     127   7,199
Eicher Motors, Ltd.
     3,263   105,809
GAIL India, Ltd. GDR
     1,073   14,486
Godrej Consumer Products, Ltd. (a)
     8,380   82,644
Grasim Industries, Ltd.
     1,097   24,090
Havells India, Ltd.
     5,195   79,017
HCL Technologies, Ltd.
     42,622   654,587
HDFC Asset Management Co., Ltd. (c)
     1,795   50,837
HDFC Life Insurance Co., Ltd. (c)
     2,562   18,197
Hero MotoCorp, Ltd.
     2,937   88,920
Hindalco Industries, Ltd.
     11,588   87,092
Hindustan Petroleum Corp., Ltd.
     11,801   41,948
Hindustan Unilever, Ltd.
     24,041   649,972
Housing Development Finance Corp., Ltd.
     4,385   138,329
ICICI Bank, Ltd. ADR
     4,475   84,757
ICICI Bank, Ltd.
     427   4,115
ICICI Lombard General Insurance Co., Ltd. (c)
     4,747   83,213
Indian Oil Corp., Ltd.
     22,563   35,419
Indraprastha Gas, Ltd.
     7,916   38,982
Infosys, Ltd. ADR
     27,101   674,544
Infosys, Ltd.
     44,354   1,116,152
ITC, Ltd.
     85,197   281,816
JSW Steel, Ltd.
     2,688   25,990
Jubilant Foodworks, Ltd.
     119   4,140
Kotak Mahindra Bank, Ltd.
     1,007   23,308
Larsen & Toubro Infotech, Ltd. (c)
     1,319   107,146
Larsen & Toubro, Ltd. GDR
     1,071   24,954
Larsen & Toubro, Ltd.
     83   1,936
Lupin, Ltd.
     4,873   48,042
Mahindra & Mahindra, Ltd. GDR
     2,347   26,052
Mahindra & Mahindra, Ltd.
     116   1,235
Marico, Ltd.
     33,892   225,291
Maruti Suzuki India, Ltd.
     460   45,902
Mindtree, Ltd.
     1,788   101,532
Motherson Sumi Systems, Ltd.
     1,640   3,018
Motherson Sumi Wiring India, Ltd. (a)
     298   253
Mphasis, Ltd.
     445   19,831
MRF, Ltd.
     72   61,783
Nestle India, Ltd.
     1,194   273,868
NTPC, Ltd.
     27,616   49,200
Oil & Natural Gas Corp., Ltd.
     19,343   41,839
Page Industries, Ltd.
     404   230,267
Petronet LNG, Ltd.
     19,205   49,106
Security Description     Shares   Value
Pidilite Industries, Ltd.
     9,266   $ 300,119
Piramal Enterprises, Ltd.
     250   7,215
Power Grid Corp. of India, Ltd.
     16,934   48,450
Reliance Industries, Ltd. GDR (c)
     2,917   201,273
Reliance Industries, Ltd.
     2,821   98,088
SBI Life Insurance Co., Ltd. (c)
     546   8,081
Shree Cement, Ltd.
     19   6,026
Shriram Transport Finance Co., Ltd.
     387   5,796
State Bank of India GDR
     574   36,908
Sun Pharmaceutical Industries, Ltd.
     9,571   115,540
Tata Consultancy Services, Ltd.
     34,583   1,706,878
Tata Motors, Ltd. ADR (a)(b)
     68   1,901
Tata Motors, Ltd. (a)
     4,432   25,370
Tata Steel, Ltd.
     108   1,863
Tata Steel, Ltd. GDR
     3,849   65,048
Tech Mahindra, Ltd.
     23,717   469,316
Titan Co., Ltd.
     3,261   109,144
UltraTech Cement, Ltd.
     170   14,812
United Spirits, Ltd. (a)
     205   2,403
UPL, Ltd.
     2,119   21,521
Vedanta, Ltd.
     4,714   25,093
Wipro, Ltd.
     54,181   423,223
Yes Bank, Ltd. (a)
     51,905   8,425
          11,951,551
INDONESIA — 1.9%          
Adaro Energy Indonesia Tbk PT
     114,800   21,501
Astra International Tbk PT
     64,900   29,711
Bank Central Asia Tbk PT
     1,186,925   659,058
Bank Mandiri Persero Tbk PT
     60,900   33,498
Bank Negara Indonesia Persero Tbk PT
     36,800   21,138
Bank Rakyat Indonesia Persero Tbk PT
     211,049   68,476
Charoen Pokphand Indonesia Tbk PT
     23,500   9,245
Gudang Garam Tbk PT
     5,800   12,761
Indah Kiat Pulp & Paper Tbk PT
     15,300   8,416
Indocement Tunggal Prakarsa Tbk PT
     6,200   4,651
Indofood CBP Sukses Makmur Tbk PT
     20,400   10,440
Indofood Sukses Makmur Tbk PT
     34,000   14,085
Kalbe Farma Tbk PT
     462,800   51,879
Semen Indonesia Persero Tbk PT
     10,800   5,000
Telkom Indonesia Persero Tbk PT
     1,176,875   375,289
Unilever Indonesia Tbk PT
     225,500   57,464
 
See accompanying notes to financial statements.
67

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
United Tractors Tbk PT
     10,700   $ 19,035
          1,401,647
KUWAIT — 0.9%          
Agility Public Warehousing Co. KSC
     4,826   17,553
Kuwait Finance House KSCP
     8,026   28,295
Mobile Telecommunications Co. KSCP
     119,128   246,255
National Bank of Kuwait SAKP
     94,656   342,419
          634,522
LUXEMBOURG — 0.0% (e)          
Reinet Investments SCA
     1,033   23,170
MALAYSIA — 2.4%          
AMMB Holdings Bhd (a)
     20,700   18,264
Axiata Group Bhd
     7,404   6,674
CIMB Group Holdings Bhd
     67,171   85,147
Dialog Group Bhd
     2,600   1,694
DiGi.Com Bhd
     62,700   58,156
Fraser & Neave Holdings Bhd
     3,000   14,983
Genting Bhd
     14,200   15,805
Genting Malaysia Bhd
     13,000   9,213
HAP Seng Consolidated Bhd
     10,000   17,789
Hartalega Holdings Bhd
     54,500   62,863
Hong Leong Bank Bhd
     26,220   125,963
Hong Leong Financial Group Bhd
     2,400   11,187
IHH Healthcare Bhd
     89,000   131,233
Inari Amertron Bhd
     48,100   35,119
IOI Corp. Bhd
     14,400   14,110
Kuala Lumpur Kepong Bhd
     5,776   34,617
Malayan Banking Bhd
     145,230   308,783
Malaysia Airports Holdings Bhd (a)
     2,700   4,463
Maxis Bhd
     51,000   47,667
MISC Bhd
     7,600   13,285
Nestle Malaysia Bhd
     6,300   200,174
Petronas Chemicals Group Bhd
     33,700   76,942
Petronas Dagangan Bhd
     7,000   33,995
Petronas Gas Bhd
     2,400   9,509
PPB Group Bhd
     16,760   68,160
Public Bank Bhd
     123,055   136,671
RHB Bank Bhd
     8,358   11,847
Sime Darby Bhd
     17,527   10,004
Sime Darby Plantation Bhd
     7,767   9,181
Telekom Malaysia Bhd
     7,485   8,705
Tenaga Nasional Bhd
     39,300   84,119
Top Glove Corp. Bhd
     155,000   70,777
Westports Holdings Bhd
     45,038   42,845
          1,779,944
MEXICO — 2.3%          
America Movil SAB de CV Series L (b)
     117,037   123,950
Arca Continental SAB de CV
     6,996   47,448
Security Description     Shares   Value
Cemex SAB de CV Series CPO (a)
     58,452   $ 31,333
Coca-Cola Femsa SAB de CV
     4,327   23,766
Fibra Uno Administracion SA de CV REIT
     17,910   20,926
Fomento Economico Mexicano SAB de CV
     4,020   33,334
Gruma SAB de CV Class B (b)
     2,500   31,360
Grupo Aeroportuario del Pacifico SAB de CV Class B (a)
     65   1,051
Grupo Aeroportuario del Sureste SAB de CV Class B
     262   5,832
Grupo Bimbo SAB de CV Class A
     6,198   18,667
Grupo Carso SAB de CV Series A1 (b)
     1,162   4,336
Grupo Financiero Banorte SAB de CV Series O
     12,421   93,148
Grupo Financiero Inbursa SAB de CV Series O (a)(b)
     11,987   25,048
Grupo Mexico SAB de CV Class B
     74,606   445,197
Grupo Televisa SAB Series CPO
     11,194   26,248
Industrias Penoles SAB de CV
     732   9,224
Kimberly-Clark de Mexico SAB de CV Class A
     2,559   3,590
Megacable Holdings SAB de CV
     890   2,675
Orbia Advance Corp. SAB de CV
     2,827   7,444
Promotora y Operadora de Infraestructura SAB de CV
     280   2,213
Wal-Mart de Mexico SAB de CV
     176,573   725,346
          1,682,136
PERU — 0.5%          
Cia de Minas Buenaventura SAA ADR (a)
     1,873   18,861
Credicorp, Ltd.
     1,241   213,291
Southern Copper Corp.
     2,060   156,354
          388,506
PHILIPPINES — 0.9%          
Aboitiz Equity Ventures, Inc.
     19,650   22,595
Ayala Corp.
     640   10,191
Ayala Land, Inc.
     6,500   4,403
Bank of the Philippine Islands
     49,189   94,680
BDO Unibank, Inc.
     51,762   132,744
Globe Telecom, Inc.
     1,670   81,975
GT Capital Holdings, Inc.
     647   6,902
International Container Terminal Services, Inc.
     19,990   86,844
JG Summit Holdings, Inc.
     10,814   12,811
Jollibee Foods Corp.
     1,920   8,349
Manila Electric Co.
     13,250   95,665
 
See accompanying notes to financial statements.
68

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Metro Pacific Investments Corp.
     98,200   $ 7,212
Metropolitan Bank & Trust Co.
     33,646   37,063
PLDT, Inc.
     551   19,699
SM Investments Corp.
     1,035   18,182
SM Prime Holdings, Inc.
     15,000   10,972
Universal Robina Corp.
     6,890   16,111
          666,398
POLAND — 0.6%          
Bank Polska Kasa Opieki SA
     1,537   41,641
CD Projekt SA
     1,501   62,579
Cyfrowy Polsat SA
     2,231   14,862
Dino Polska SA (a)(c)
     1,792   146,422
KGHM Polska Miedz SA
     671   27,840
LPP SA
     5   13,762
Orange Polska SA (a)
     5,075   9,609
PGE Polska Grupa Energetyczna SA (a)
     10,415   22,793
Polski Koncern Naftowy ORLEN SA
     2,665   48,616
Polskie Gornictwo Naftowe i Gazownictwo SA
     8,313   12,380
Powszechna Kasa Oszczednosci Bank Polski SA (a)
     3,922   37,495
Powszechny Zaklad Ubezpieczen SA
     2,177   17,683
Santander Bank Polska SA
     152   11,125
          466,807
QATAR — 1.2%          
Barwa Real Estate Co.
     63,753   61,272
Commercial Bank PQSC
     3,280   6,728
Industries Qatar QSC
     4,970   25,930
Masraf Al Rayan QSC
     141,948   201,516
Mesaieed Petrochemical Holding Co.
     9,494   7,586
Ooredoo QSC
     8,253   16,117
Qatar Electricity & Water Co. QSC
     19,870   99,848
Qatar Fuel QSC
     6,024   29,576
Qatar Islamic Bank SAQ
     22,968   150,356
Qatar National Bank QPSC
     43,217   273,774
          872,703
ROMANIA — 0.0% (e)          
NEPI Rockcastle PLC
     1,158   7,693
RUSSIA — 0.0% (e)          
Alrosa PJSC (a)(d)
     72,138   —
Gazprom PJSC ADR (d)
     50,071   —
Inter RAO UES PJSC (a)(d)
     435,055   —
LUKOIL PJSC ADR (d)
     3,065   —
Magnit PJSC GDR (d)
     2,490   —
MMC Norilsk Nickel PJSC ADR (d)
     1,589   —
Mobile TeleSystems PJSC ADR (d)
     2,361   —
Security Description     Shares   Value
Moscow Exchange MICEX (a)(d)
     5,004   $ —
Novatek PJSC GDR (d)
     169   —
Novolipetsk Steel PJSC GDR (d)
     2,685   —
Novolipetsk Steel PJSC (a)(d)
     6,756   —
PhosAgro PJSC GDR (d)
     404   —
Polyus PJSC GDR (d)
     1,392   —
Polyus PJSC (a)(d)
     81   —
Rosneft Oil Co PJSC (d)
     5,112   —
Rosneft Oil Co. PJSC GDR (d)
     10,417   —
Sberbank of Russia PJSC ADR (d)(f)
     14,280   —
Severstal PAO GDR (d)
     5,724   —
Surgutneftegas PJSC ADR (d)(f)
     43,960   —
Tatneft PJSC ADR (d)(f)
     1,514   —
TCS Group Holding PLC GDR (a)(d)
     3,373   —
VTB Bank PJSC GDR (d)
     7,643   —
VTB Bank PJSC (d)
     17,049,040   —
X5 Retail Group NV GDR (d)
     820   —
Yandex NV Class A (a)(d)
     480   —
          —
SAUDI ARABIA — 6.3%          
Abdullah Al Othaim Markets Co.
     2,350   73,291
Advanced Petrochemical Co.
     6,486   121,888
Al Rajhi Bank
     39,524   1,692,004
Alinma Bank
     36,257   375,472
Arab National Bank
     3,242   24,024
Bank AlBilad (a)
     3,543   58,554
Bank Al-Jazira
     7,658   53,789
Banque Saudi Fransi
     2,973   42,556
Bupa Arabia for Cooperative Insurance Co.
     2,459   117,329
Co. for Cooperative Insurance
     2,642   50,847
Dar Al Arkan Real Estate Development Co. (a)
     1,586   4,625
Dr Sulaiman Al Habib Medical Services Group Co.
     1,804   91,559
Emaar Economic City (a)
     4,800   14,944
Etihad Etisalat Co.
     18,523   204,906
Jarir Marketing Co.
     5,244   275,375
Mobile Telecommunications Co. (a)
     12,189   43,278
Mouwasat Medical Services Co.
     1,040   58,938
National Industrialization Co. (a)
     1,195   7,358
Rabigh Refining & Petrochemical Co. (a)
     860   6,476
Riyad Bank
     5,979   59,846
SABIC Agri-Nutrients Co.
     4,357   211,143
Sahara International Petrochemical Co.
     927   13,269
Saudi Arabian Mining Co. (a)
     439   15,681
 
See accompanying notes to financial statements.
69

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Saudi Arabian Oil Co. (c)
     4,325   $ 49,689
Saudi Basic Industries Corp.
     8,578   299,538
Saudi British Bank
     4,432   47,020
Saudi Electricity Co.
     14,621   103,280
Saudi Kayan Petrochemical Co. (a)
     1,738   10,470
Saudi National Bank
     7,404   139,929
Saudi Telecom Co.
     12,361   355,196
Savola Group
     2,398   23,299
Yanbu National Petrochemical Co.
     2,787   49,700
          4,695,273
SINGAPORE — 0.0% (e)          
BOC Aviation, Ltd. (c)
     2,200   17,403
SOUTH AFRICA — 3.2%          
Absa Group, Ltd.
     5,799   75,576
African Rainbow Minerals, Ltd.
     3,057   59,864
Anglo American Platinum, Ltd.
     1,526   209,543
Aspen Pharmacare Holdings, Ltd.
     1,370   18,623
Bid Corp., Ltd.
     983   21,393
Bidvest Group, Ltd.
     1,586   24,280
Capitec Bank Holdings, Ltd.
     1,988   318,563
Clicks Group, Ltd.
     8,032   169,874
Discovery, Ltd. (a)
     1,013   12,629
Exxaro Resources, Ltd.
     7,335   111,201
FirstRand, Ltd.
     16,327   86,560
Gold Fields, Ltd.
     1,833   28,607
Growthpoint Properties, Ltd. REIT
     8,329   8,390
Harmony Gold Mining Co., Ltd.
     1,365   6,901
Impala Platinum Holdings, Ltd.
     23,279   358,493
Kumba Iron Ore, Ltd. (b)
     1,884   84,497
Mr. Price Group, Ltd.
     7,511   111,289
MTN Group, Ltd.
     5,847   76,026
MultiChoice Group, Ltd.
     367   3,308
Naspers, Ltd. Class N
     345   39,290
Nedbank Group, Ltd.
     3,489   55,650
Old Mutual, Ltd.
     33,581   31,645
Rand Merchant Investment Holdings, Ltd.
     1,911   6,825
Remgro, Ltd.
     2,289   23,469
Sanlam, Ltd.
     7,096   35,061
Sasol, Ltd. (a)
     3,068   74,535
Shoprite Holdings, Ltd.
     3,283   53,170
Sibanye Stillwater, Ltd.
     8,668   35,473
SPAR Group, Ltd.
     1,868   21,695
Standard Bank Group, Ltd.
     7,763   96,763
Tiger Brands, Ltd.
     1,771   19,622
Vodacom Group, Ltd.
     5,511   60,343
Woolworths Holdings, Ltd.
     4,758   18,814
          2,357,972
SOUTH KOREA — 8.8%          
Amorepacific Corp.
     83   10,957
AMOREPACIFIC Group
     102   3,694
Security Description     Shares   Value
BGF retail Co., Ltd.
     122   $ 17,564
Celltrion Healthcare Co., Ltd.
     113   6,060
Celltrion, Inc.
     199   28,158
Cheil Worldwide, Inc.
     739   14,359
CJ CheilJedang Corp.
     100   30,486
CJ Corp.
     306   21,308
CJ ENM Co., Ltd.
     20   2,168
CJ Logistics Corp. (a)
     312   33,335
Coway Co., Ltd.
     2,330   131,682
DB Insurance Co., Ltd.
     969   55,883
Doosan Bobcat, Inc.
     176   5,641
Doosan Heavy Industries & Construction Co., Ltd. (a)
     561   9,465
E-MART, Inc.
     357   41,530
F&F Co., Ltd.
     26   15,981
GS Engineering & Construction Corp.
     452   17,304
GS Holdings Corp.
     610   22,094
Hana Financial Group, Inc.
     4,264   170,975
Hankook Tire & Technology Co., Ltd.
     552   15,325
Hanmi Pharm Co., Ltd.
     7   1,582
Hanon Systems
     4,096   39,877
Hanwha Solutions Corp. (a)
     602   17,856
HLB, Inc. (a)
     606   15,324
Hotel Shilla Co., Ltd.
     1,609   107,793
Hyundai Engineering & Construction Co., Ltd.
     603   23,830
Hyundai Glovis Co., Ltd.
     126   20,012
Hyundai Heavy Industries Holdings Co., Ltd.
     572   25,390
Hyundai Mobis Co., Ltd.
     453   80,356
Hyundai Motor Co.
     802   119,435
Hyundai Motor Co. Preference Shares (f)
     445   31,795
Hyundai Motor Co. Preference Shares (f)
     268   19,060
Hyundai Motor Co. GDR
     280   9,856
Hyundai Steel Co.
     886   30,373
Industrial Bank of Korea
     3,486   31,206
Kakao Corp.
     997   87,604
Kangwon Land, Inc. (a)
     1,042   23,943
KB Financial Group, Inc.
     1,007   50,930
KB Financial Group, Inc. ADR (b)
     3,477   169,782
Kia Corp.
     1,830   111,728
Korea Aerospace Industries, Ltd.
     194   6,771
Korea Electric Power Corp. ADR (a)
     6,892   64,165
Korea Electric Power Corp. (a)
     2,069   38,664
Korea Investment Holdings Co., Ltd.
     212   13,713
Korea Shipbuilding & Offshore Engineering Co., Ltd. (a)
     214   15,696
Korea Zinc Co., Ltd.
     25   12,066
Korean Air Lines Co., Ltd. (a)
     756   18,837
 
See accompanying notes to financial statements.
70

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Krafton, Inc. (a)
     713   $ 162,066
KT&G Corp.
     2,995   199,411
Kumho Petrochemical Co., Ltd.
     573   73,277
LG Chem, Ltd.
     92   40,381
LG Chem, Ltd. Preference Shares
     7   1,577
LG Corp.
     340   21,431
LG Display Co., Ltd. ADR (a)(b)
     2,145   17,718
LG Display Co., Ltd.
     1,831   31,195
LG Electronics, Inc.
     776   77,149
LG Household & Health Care, Ltd.
     238   168,478
LG Household & Health Care, Ltd. Preference Shares
     158   66,091
LG Innotek Co., Ltd.
     52   16,603
LG Uplus Corp.
     2,364   27,306
Lotte Chemical Corp.
     171   29,557
Lotte Shopping Co., Ltd.
     167   13,200
Meritz Securities Co., Ltd.
     1,894   10,220
Mirae Asset Securities Co., Ltd.
     3,624   25,594
NAVER Corp.
     958   269,130
NCSoft Corp.
     160   61,714
Netmarble Corp. (c)
     306   28,150
NH Investment & Securities Co., Ltd.
     768   7,223
Orion Corp/Republic of Korea
     39   2,857
Pan Ocean Co., Ltd.
     1,378   7,947
Pearl Abyss Corp. (a)
     408   33,494
POSCO Holdings, Inc. ADR
     2,754   163,230
POSCO Holdings, Inc.
     117   28,283
S-1 Corp.
     1,259   74,062
Samsung Biologics Co., Ltd. (a)(c)
     158   107,806
Samsung C&T Corp.
     450   42,325
Samsung Electro-Mechanics Co., Ltd.
     212   28,860
Samsung Electronics Co., Ltd. Preference Shares
     4,732   245,960
Samsung Electronics Co., Ltd.
     21,856   1,255,045
Samsung Engineering Co., Ltd. (a)
     505   10,916
Samsung Fire & Marine Insurance Co., Ltd.
     307   55,470
Samsung Heavy Industries Co., Ltd. (a)
     2,593   12,152
Samsung Life Insurance Co., Ltd.
     553   30,067
Samsung SDI Co., Ltd.
     69   33,929
Samsung SDS Co., Ltd.
     648   74,046
Samsung Securities Co., Ltd.
     389   13,448
SD Biosensor, Inc.
     1,284   59,112
Seegene, Inc.
     171   7,209
Shinhan Financial Group Co., Ltd.
     1,072   36,705
Shinhan Financial Group Co., Ltd. ADR (b)
     4,508   150,702
Security Description     Shares   Value
SK Bioscience Co., Ltd. (a)
     100   $ 12,953
SK Hynix, Inc.
     3,953   384,847
SK Innovation Co., Ltd. (a)
     191   33,881
SK Square Co., Ltd. (a)
     176   8,248
SK Telecom Co., Ltd.
     389   18,262
SK Telelcom Co., Ltd. ADR
     6,056   155,215
SK, Inc.
     525   104,822
S-Oil Corp.
     259   20,664
Woori Financial Group, Inc.
     8,377   106,090
Yuhan Corp.
     1,581   76,177
          6,583,868
TAIWAN — 14.3%          
Accton Technology Corp.
     19,000   147,549
Acer, Inc.
     26,258   27,448
Advantech Co., Ltd.
     26,838   346,113
ASE Technology Holding Co., Ltd.
     16,124   58,246
Asia Cement Corp.
     25,200   42,745
Asustek Computer, Inc.
     17,000   221,611
AU Optronics Corp.
     47,000   32,562
Catcher Technology Co., Ltd.
     8,000   40,347
Cathay Financial Holding Co., Ltd.
     56,770   127,800
Chailease Holding Co., Ltd.
     3,621   32,038
Chang Hwa Commercial Bank, Ltd.
     30,193   20,180
Cheng Shin Rubber Industry Co., Ltd.
     20,000   24,746
China Development Financial Holding Corp.
     96,300   64,533
China Steel Corp.
     69,440   94,400
Chunghwa Telecom Co., Ltd.
     103,540   458,949
Compal Electronics, Inc. (a)
     253,000   236,651
CTBC Financial Holding Co., Ltd.
     117,900   120,980
Delta Electronics, Inc.
     7,623   71,437
E.Sun Financial Holding Co., Ltd.
     176,782   203,921
Eclat Textile Co., Ltd.
     5,379   89,645
eMemory Technology, Inc. (a)
     2,000   129,138
Evergreen Marine Corp. Taiwan, Ltd. (a)
     2,565   12,086
Far Eastern New Century Corp.
     21,560   22,876
Far EasTone Telecommunications Co., Ltd. (a)
     108,449   278,205
Feng TAY Enterprise Co., Ltd.
     10,176   68,014
First Financial Holding Co., Ltd.
     459,221   455,991
Formosa Chemicals & Fibre Corp.
     17,000   46,874
Formosa Petrochemical Corp.
     23,000   75,699
Formosa Plastics Corp.
     27,000   100,361
Foxconn Technology Co., Ltd.
     5,892   12,914
Fubon Financial Holding Co., Ltd.
     33,734   90,070
 
See accompanying notes to financial statements.
71

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Giant Manufacturing Co., Ltd.
     1,000   $ 9,092
Globalwafers Co., Ltd.
     5,000   117,097
Hiwin Technologies Corp.
     1,218   10,203
Hon Hai Precision Industry Co., Ltd.
     118,730   439,257
Hotai Motor Co., Ltd.
     1,000   20,872
Hua Nan Financial Holdings Co., Ltd.
     405,631   344,733
Innolux Corp.
     66,751   39,140
Inventec Corp.
     27,000   23,276
Largan Precision Co., Ltd.
     2,000   131,581
Lite-On Technology Corp.
     44,952   106,844
MediaTek, Inc. (a)
     1,877   59,288
Mega Financial Holding Co., Ltd.
     97,657   146,222
Micro-Star International Co., Ltd.
     21,000   95,283
momo.com, Inc.
     1,000   32,843
Nan Ya Plastics Corp.
     18,000   58,552
Nanya Technology Corp.
     9,000   21,737
Nien Made Enterprise Co., Ltd.
     5,000   58,723
Novatek Microelectronics Corp.
     18,000   267,944
Pegatron Corp.
     24,000   60,646
Pou Chen Corp.
     27,000   29,731
President Chain Store Corp. (a)
     32,000   293,737
Quanta Computer, Inc.
     26,000   80,128
Realtek Semiconductor Corp.
     13,000   195,330
Ruentex Development Co., Ltd.
     9,755   26,999
Shanghai Commercial & Savings Bank, Ltd.
     12,387   21,703
Shin Kong Financial Holding Co., Ltd.
     125,657   47,366
SinoPac Financial Holdings Co., Ltd.
     73,152   46,978
Synnex Technology International Corp.
     78,900   207,360
Taishin Financial Holding Co., Ltd.
     72,766   52,064
Taiwan Cement Corp.
     27,474   47,849
Taiwan Cooperative Financial Holding Co., Ltd.
     487,729   503,024
Taiwan High Speed Rail Corp.
     54,000   54,374
Taiwan Mobile Co., Ltd.
     110,542   405,107
Taiwan Semiconductor Manufacturing Co., Ltd.
     103,495   2,156,485
Uni-President Enterprises Corp.
     27,164   62,194
United Microelectronics Corp.
     34,000   64,080
Vanguard International Semiconductor Corp.
     23,000   99,942
Voltronic Power Technology Corp.
     2,000   101,914
Wan Hai Lines, Ltd.
     14,000   77,448
Win Semiconductors Corp.
     1,000   9,284
Winbond Electronics Corp.
     3,000   3,267
Wiwynn Corp.
     2,000   71,201
Security Description     Shares   Value
WPG Holdings, Ltd.
     51,280   $ 100,228
Yageo Corp.
     1,198   18,147
Yuanta Financial Holding Co., Ltd.
     43,404   39,993
Zhen Ding Technology Holding, Ltd.
     8,000   30,016
          10,643,411
TANZANIA, UNITED REPUBLIC OF — 0.3%          
AngloGold Ashanti, Ltd.
     10,552   253,104
THAILAND — 2.6%          
Advanced Info Service PCL
     51,422   360,341
Airports of Thailand PCL (a)
     20,000   39,850
Airports of Thailand PCL NVDR (a)
     81,770   162,925
Bangkok Commercial Asset Management PCL
     10,280   6,369
Bangkok Dusit Medical Services PCL Class F
     216,092   162,475
Bangkok Expressway & Metro PCL
     166,617   43,596
Berli Jucker PCL NVDR
     2,400   2,598
BTS Group Holdings PCL
     97,043   26,851
Bumrungrad Hospital PCL
     19,864   93,495
Carabao Group PCL Class F
     3,400   11,044
Central Pattana PCL
     10,968   19,462
Central Retail Corp. PCL NVDR
     8,563   10,237
Central Retail Corp. PCL
     634   758
Charoen Pokphand Foods PCL
     23,886   17,313
CP ALL PCL
     107,261   209,683
Electricity Generating PCL
     2,309   11,805
Energy Absolute PCL
     900   2,653
Energy Absolute PCL NVDR
     2,300   6,779
Home Product Center PCL
     288,174   137,803
Indorama Ventures PCL
     1,400   1,958
Indorama Ventures PCL NVDR
     6,600   9,230
Intouch Holdings PCL Class F
     82,902   193,854
Krung Thai Bank PCL
     86,703   35,985
Land & Houses PCL
     19,400   5,543
Minor International PCL (a)
     2,185   2,201
Minor International PCL NVDR (a)
     4,161   4,192
Osotspa PCL
     10,700   12,068
PTT Exploration & Production PCL
     6,428   27,839
PTT Global Chemical PCL
     17,662   26,958
PTT Oil & Retail Business PCL
     71,000   53,383
PTT PCL
     57,060   66,069
Ratch Group PCL
     2,300   3,044
Siam Cement PCL
     2,024   23,314
Siam Cement PCL NVDR
     2,700   31,101
Siam Commercial Bank PCL
     7,500   25,714
Sri Trang Gloves Thailand PCL
     7,200   5,468
Thai Oil PCL
     8,788   13,678
Thai Union Group PCL NVDR
     44,800   25,465
 
See accompanying notes to financial statements.
72

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Thai Union Group PCL Class F
     10,800   $ 6,139
True Corp. PCL
     40,600   6,288
          1,905,528
TURKEY — 0.5%          
Akbank T.A.S.
     43,792   21,675
Aselsan Elektronik Sanayi Ve Ticaret A/S
     19,523   32,131
BIM Birlesik Magazalar A/S
     27,021   155,943
Eregli Demir ve Celik Fabrikalari TAS
     6,171   13,648
Ford Otomotiv Sanayi A/S
     1,784   36,330
KOC Holding A/S
     6,279   16,978
Turkcell Iletisim Hizmetleri A/S
     16,010   24,603
Turkiye Garanti Bankasi A/S
     26,812   22,301
Turkiye Is Bankasi A/S Class C
     34,318   20,659
Turkiye Petrol Rafinerileri AS (a)
     1,152   16,839
Turkiye Sise ve Cam Fabrikalari A/S
     22,893   23,739
          384,846
UNITED ARAB EMIRATES — 1.9%          
Abu Dhabi Commercial Bank PJSC
     15,566   44,413
Abu Dhabi National Oil Co. for Distribution PJSC
     203,837   233,080
Aldar Properties PJSC
     70,364   94,443
Dubai Islamic Bank PJSC
     31,797   53,413
Emaar Properties PJSC
     30,155   49,259
Emirates NBD Bank PJSC
     14,801   60,444
Emirates Telecommunications Group Co. PJSC
     59,183   595,528
First Abu Dhabi Bank PJSC
     47,901   307,773
          1,438,353
UNITED STATES — 0.3%          
JBS SA
     5,394   42,260
Legend Biotech Corp. ADR (a)
     368   13,373
Parade Technologies, Ltd.
     2,000   126,346
          181,979
TOTAL COMMON STOCKS

(Cost $62,930,385)
         74,217,212
       
RIGHTS — 0.0% (e)    
SOUTH KOREA — 0.0% (e)      
Samsung Biologics Co., Ltd. (expiring 4/8/22) (a)

(Cost: $0)
   10 1,551
WARRANTS — 0.0% (e)    
THAILAND — 0.0% (e)      
BTS Group Holdings PCL (expiring 11/20/26) (a)
   34,466 539
Security Description     Shares   Value
BTS Group Holdings PCL (expiring 11/7/24) (a)
     17,233   $ 285
BTS Group Holdings PCL (expiring 9/5/22) (a)
     8,616   127
Minor International PCL (expiring 02/15/24) (a)
     150   15
TOTAL WARRANTS

(Cost $0)
         966
SHORT-TERM INVESTMENTS — 1.3%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (g)(h)
   250,416   250,391
State Street Navigator Securities Lending Portfolio II (i)(j)
   715,635   715,635
TOTAL SHORT-TERM INVESTMENTS

(Cost $966,009)
   966,026  
TOTAL INVESTMENTS — 101.0%

(Cost $63,896,394)
   75,185,755  
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%
  (712,083)  
NET ASSETS — 100.0%
  $ 74,473,672  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at March 31, 2022.
(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 3.6% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d) Fair valued as determined in good faith by the Trust's Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2022, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(e) Amount is less than 0.05% of net assets.
(f) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(g) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(h) The rate shown is the annualized seven-day yield at March 31, 2022.
(i) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(j) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
REIT Real Estate Investment Trust
 
See accompanying notes to financial statements.
73

Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $72,539,429   $1,677,783   $ 0(a)   $74,217,212
Rights
   —   1,551   —   1,551
Warrants
   966   —   —   966
Short-Term Investments
   966,026   —   —   966,026
TOTAL INVESTMENTS
   $73,506,421   $1,679,334   $ 0   $75,185,755
(a) Fund held Level 3 securities that were valued at $0 at March 31, 2022.
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Financials 23.9%
  Information Technology 20.2
  Materials 11.3
  Consumer Staples 10.7
  Communication Services 8.7
  Consumer Discretionary 8.6
  Health Care 4.9
  Industrials 4.0
  Energy 3.2
  Utilities 2.8
  Real Estate 1.4
  Short-Term Investments 1.3
  Liabilities in Excess of Other Assets (1.0)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 199,417   $199,457   $ 2,476,349   $ 2,425,369   $(63)   $17   250,416   $250,391   $ 139
State Street Navigator Securities Lending Portfolio II
 691,026   691,026   12,282,666   12,258,057   —   —   715,635   715,635   1,722
Total
     $890,483   $14,759,015   $14,683,426   $(63)   $17       $966,026   $1,861
See accompanying notes to financial statements.
74

Table of Contents
SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.6%        
AUSTRALIA — 2.4%          
APA Group Stapled Security
     1,535   $ 12,299
Aristocrat Leisure, Ltd.
     277   7,634
ASX, Ltd.
     407   25,001
Aurizon Holdings, Ltd.
     3,646   10,103
Australia & New Zealand Banking Group, Ltd.
     2,318   48,043
BHP Group, Ltd. (a)(b)
     5,258   204,335
BHP Group, Ltd. (b)
     3,842   149,329
BlueScope Steel, Ltd.
     644   10,088
Brambles, Ltd.
     731   5,440
Cochlear, Ltd.
     68   11,506
Coles Group, Ltd.
     1,081   14,539
Commonwealth Bank of Australia
     932   74,027
Computershare, Ltd.
     497   9,219
CSL, Ltd.
     641   129,076
Dexus REIT
     1,076   8,848
Endeavour Group, Ltd.
     1,988   10,883
Fortescue Metals Group, Ltd.
     4,468   69,319
Glencore PLC (c)
     12,637   83,193
Goodman Group REIT
     681   11,706
GPT Group REIT
     389   1,513
Macquarie Group, Ltd.
     91   13,891
Medibank Pvt, Ltd.
     2,383   5,512
Mirvac Group REIT
     1,521   2,844
National Australia Bank, Ltd.
     2,430   59,032
Newcrest Mining, Ltd.
     160   3,213
Orica, Ltd.
     586   7,019
QBE Insurance Group, Ltd.
     98   846
Ramsay Health Care, Ltd.
     121   5,920
REA Group, Ltd.
     113   11,496
Rio Tinto PLC
     2,314   185,272
Rio Tinto, Ltd.
     819   73,256
Santos, Ltd.
     1,354   7,870
Scentre Group REIT
     898   2,057
Sonic Healthcare, Ltd.
     656   17,478
South32, Ltd.
     4,126   15,554
Stockland REIT
     698   2,238
Suncorp Group, Ltd.
     790   6,597
Telstra Corp., Ltd.
     5,808   17,272
Transurban Group Stapled Security
     653   6,644
Treasury Wine Estates, Ltd.
     691   6,009
Wesfarmers, Ltd.
     2,883   109,137
Westpac Banking Corp. (a)
     3,220   58,614
Woodside Petroleum, Ltd.
     255   6,147
Woolworths Group, Ltd.
     909   25,434
          1,545,453
AUSTRIA — 0.1%          
Erste Group Bank AG
     235   8,652
Mondi PLC
     375   7,364
OMV AG
     273   13,180
Security Description     Shares   Value
Raiffeisen Bank International AG (c)
     480   $ 6,916
Voestalpine AG
     30   902
          37,014
BELGIUM — 0.3%          
Ageas SA/NV
     209   10,660
Anheuser-Busch InBev SA/NV (a)
     292   17,629
Elia Group SA
     49   7,535
Etablissements Franz Colruyt NV
     440   18,359
Groupe Bruxelles Lambert SA
     72   7,540
KBC Group NV
     166   12,076
Proximus SADP
     1,576   29,547
Sofina SA
     95   34,903
Solvay SA (a)
     14   1,393
UCB SA
     125   15,083
Umicore SA
     125   5,474
          160,199
BRAZIL — 0.0% (d)          
Wheaton Precious Metals Corp.
     459   21,847
Yara International ASA
     30   1,516
          23,363
CANADA — 3.4%          
Agnico Eagle Mines, Ltd.
     1,461   89,481
Algonquin Power & Utilities Corp.
     410   6,365
Alimentation Couche-Tard, Inc.
     1,434   64,659
AltaGas, Ltd. (a)
     372   8,339
Bank of Montreal
     407   47,935
Bank of Nova Scotia
     825   59,181
Barrick Gold Corp.
     706   17,330
BCE, Inc. (a)
     784   43,498
Brookfield Asset Management, Inc. Class A
     546   30,896
Cameco Corp.
     324   9,445
Canadian Imperial Bank of Commerce
     383   46,532
Canadian National Railway Co.
     946   127,012
Canadian Natural Resources, Ltd. (a)
     834   51,687
Canadian Pacific Railway, Ltd.
     883   72,942
Canadian Utilities, Ltd. Class A
     216   6,627
Cenovus Energy, Inc.
     958   15,984
CGI, Inc. (c)
     952   75,905
Constellation Software, Inc.
     42   71,858
Dollarama, Inc.
     180   10,217
Emera, Inc.
     192   9,526
Empire Co., Ltd. Class A
     593   21,051
Enbridge, Inc.
     1,025   47,227
Fairfax Financial Holdings, Ltd.
     42   22,934
Fortis, Inc.
     314   15,544
Franco-Nevada Corp.
     1,318   209,922
George Weston, Ltd.
     156   19,228
Great-West Lifeco, Inc.
     430   12,683
 
See accompanying notes to financial statements.
75

Table of Contents
SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Hydro One, Ltd. (e)
     240   $ 6,471
iA Financial Corp., Inc.
     150   9,128
Intact Financial Corp.
     966   142,860
Keyera Corp. (a)
     300   7,611
Kinross Gold Corp.
     1,595   9,373
Loblaw Cos., Ltd.
     551   49,487
Magna International, Inc.
     300   19,277
Manulife Financial Corp.
     1,505   32,123
Metro, Inc.
     512   29,497
National Bank of Canada
     150   11,508
Nutrien, Ltd.
     301   31,140
Open Text Corp.
     334   14,175
Pembina Pipeline Corp.
     259   9,740
Power Corp. of Canada
     540   16,731
Quebecor, Inc. Class B
     216   5,153
RioCan Real Estate Investment Trust
     478   9,655
Rogers Communications, Inc. Class B (a)
     665   37,673
Royal Bank of Canada
     834   91,903
Shaw Communications, Inc. Class B
     745   23,142
Sun Life Financial, Inc. (a)
     120   6,706
Suncor Energy, Inc.
     927   30,206
TC Energy Corp. (a)
     414   23,371
Teck Resources, Ltd. Class B (c)
     280   11,316
TELUS Corp.
     3,456   90,367
Thomson Reuters Corp.
     574   62,375
Toronto-Dominion Bank
     2,178   172,960
          2,167,956
CHINA — 0.1%          
BOC Hong Kong Holdings, Ltd.
     11,000   41,717
Chow Tai Fook Jewellery Group, Ltd. (c)
     4,000   7,284
NXP Semiconductors NV
     78   14,436
Prosus NV (c)
     222   11,998
SITC International Holdings Co., Ltd.
     2,000   7,087
Wilmar International, Ltd.
     1,800   6,264
          88,786
DENMARK — 1.6%          
AP Moller - Maersk A/S Class A
     10   29,841
Carlsberg A/S Class B
     117   14,526
Coloplast A/S Class B
     904   138,534
Danske Bank A/S
     938   15,799
DSV A/S
     82   15,952
Genmab A/S (c)
     34   12,536
GN Store Nord A/S
     13   647
Novo Nordisk A/S Class B
     5,693   637,736
Novozymes A/S Class B
     580   40,168
Orsted A/S (e)
     66   8,384
Pandora A/S
     173   16,758
Tryg A/S
     1,122   27,566
Vestas Wind Systems A/S
     1,345   40,187
          998,634
Security Description     Shares   Value
FINLAND — 0.4%          
Elisa Oyj
     1,406   $ 85,447
Fortum Oyj
     243   4,469
Kone Oyj Class B
     958   50,727
Neste Oyj
     566   26,122
Nokia Oyj (c)
     1,734   9,599
Nordea Bank Abp (a)
     1,452   15,160
Orion Oyj Class B
     169   7,738
Sampo Oyj Class A
     243   11,999
Stora Enso Oyj Class R
     388   7,691
UPM-Kymmene Oyj (a)
     303   9,999
Wartsila OYJ Abp (a)
     275   2,542
          231,493
FRANCE — 2.0%          
Air Liquide SA
     138   24,401
Airbus SE (c)
     153   18,787
Alstom SA
     261   6,177
Arkema SA
     18   2,178
AXA SA
     1,637   48,386
BioMerieux
     77   8,288
BNP Paribas SA
     1,486   85,861
Bollore SE
     1,367   7,231
Bouygues SA
     335   11,790
Capgemini SE
     53   11,941
Carrefour SA
     933   20,394
Cie de Saint-Gobain
     414   24,999
Cie Generale des Etablissements Michelin SCA
     131   17,921
CNP Assurances
     484   11,740
Credit Agricole SA
     1,942   23,522
Danone SA
     348   19,372
Dassault Aviation SA
     48   7,675
Dassault Systemes SE
     84   4,179
Eiffage SA
     16   1,660
Electricite de France SA (b)
     334   3,171
Engie SA
     1,519   20,170
EssilorLuxottica SA
     66   12,212
Eurazeo SE
     67   5,695
Faurecia SE
     156   4,105
Gecina SA REIT
     4   509
Getlink SE
     138   2,510
Hermes International
     121   173,876
Kering SA
     29   18,576
Klepierre SA REIT (c)
     217   5,838
Legrand SA
     23   2,211
L'Oreal SA
     319   129,143
LVMH Moet Hennessy Louis Vuitton SE
     79   57,082
Orange SA
     10,187   121,325
Pernod Ricard SA
     91   20,179
Publicis Groupe SA
     54   3,320
Renault SA (c)
     610   16,204
Safran SA
     77   9,189
Sanofi
     589   60,626
Sartorius Stedim Biotech
     80   33,157
Societe Generale SA
     2,036   55,411
 
See accompanying notes to financial statements.
76

Table of Contents
SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
Sodexo SA
     8   $ 657
Thales SA
     46   5,832
TotalEnergies SE
     1,856   95,056
Unibail-Rodamco-Westfield REIT (b)(c)
     141   10,697
Valeo
     231   4,306
Veolia Environnement SA
     542   17,543
Vinci SA
     216   22,348
Vivendi SE
     1,421   18,720
Worldline SA (c)(e)
     19   835
          1,287,005
GERMANY — 1.9%          
adidas AG
     66   15,561
Allianz SE
     287   69,151
Aroundtown SA
     1,083   6,259
BASF SE
     579   33,345
Bayer AG
     695   48,021
Bayerische Motoren Werke AG
     353   30,871
Bayerische Motoren Werke AG Preference Shares
     83   6,492
Beiersdorf AG
     112   11,864
Brenntag SE
     132   10,771
Commerzbank AG (c)
     2,586   19,931
Continental AG (c)
     80   5,821
Covestro AG (e)
     137   6,988
Daimler Truck Holding AG (c)
     581   16,310
Deutsche Bank AG (c)
     2,658   34,040
Deutsche Boerse AG
     25   4,534
Deutsche Lufthansa AG (c)
     633   5,182
Deutsche Post AG
     637   30,866
Deutsche Telekom AG
     14,239   268,254
E.ON SE
     1,133   13,290
Fresenius Medical Care AG & Co. KGaA
     353   23,864
Fresenius SE & Co. KGaA
     344   12,763
FUCHS PETROLUB SE Preference Shares
     67   2,444
Hannover Rueck SE
     12   2,061
HeidelbergCement AG
     143   8,220
HelloFresh SE (c)
     91   4,147
Henkel AG & Co. KGaA Preference Shares
     123   8,304
Infineon Technologies AG
     583   20,099
Knorr-Bremse AG
     60   4,649
LANXESS AG
     121   5,370
LEG Immobilien SE
     50   5,744
Mercedes-Benz Group AG
     1,163   82,571
Merck KGaA
    52   10,984
MTU Aero Engines AG
    32   7,502
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
    127   34,338
Porsche Automobil Holding SE Preference Shares
    137   13,399
Rational AG
    7   4,883
RWE AG
    516   22,695
Security Description     Shares   Value
SAP SE
     316   $ 35,554
Siemens AG
     307   42,923
Siemens Energy AG (c)
     161   3,712
Siemens Healthineers AG (e)
     454   28,409
Symrise AG
     651   78,844
Telefonica Deutschland Holding AG
     9,991   27,447
Uniper SE
     247   6,431
United Internet AG
     138   4,788
Volkswagen AG
     29   7,299
Volkswagen AG Preference Shares
     312   54,502
Vonovia SE
     98   4,614
          1,206,111
HONG KONG — 1.2%          
AIA Group, Ltd.
     3,600   37,901
CK Asset Holdings, Ltd.
     678   4,649
CK Infrastructure Holdings, Ltd.
     500   3,349
CLP Holdings, Ltd.
     7,000   68,244
Hang Seng Bank, Ltd.
     4,300   83,020
HK Electric Investments & HK Electric Investments, Ltd. Stapled Security
     30,831   30,117
HKT Trust & HKT, Ltd. Stapled Security
     23,540   32,343
Hong Kong & China Gas Co., Ltd.
     63,277   76,678
Hong Kong Exchanges & Clearing, Ltd.
     1,671   79,246
Hongkong Land Holdings, Ltd.
     400   1,960
Jardine Matheson Holdings, Ltd.
     1,300   71,500
Link REIT
     8,559   73,225
MTR Corp., Ltd.
     11,165   60,377
New World Development Co., Ltd.
     1,330   5,409
Power Assets Holdings, Ltd.
     5,000   32,593
Sino Land Co., Ltd.
     8,000   10,379
Sun Hung Kai Properties, Ltd.
     2,000   23,904
Swire Pacific, Ltd. Class A
     1,000   6,116
Techtronic Industries Co., Ltd.
     2,000   32,408
WH Group, Ltd. (e)
     19,072   12,055
Wharf Real Estate Investment Co., Ltd. (a)
     2,000   9,922
Xinyi Glass Holdings, Ltd.
     2,000   4,852
          760,247
IRELAND — 0.2%          
AerCap Holdings NV (c)
     100   5,028
CRH PLC
     204   8,251
Flutter Entertainment PLC (a)(c)
     24   2,804
Kerry Group PLC Class A
     725   81,555
Kingspan Group PLC
     258   25,560
Smurfit Kappa Group PLC
     185   8,326
          131,524
ISRAEL — 0.4%          
Azrieli Group, Ltd.
     160   14,128
 
See accompanying notes to financial statements.
77

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Bank Hapoalim BM
     1,182   $ 11,760
Bank Leumi Le-Israel BM
     3,523   38,131
Check Point Software Technologies, Ltd. (c)
     491   67,886
Elbit Systems, Ltd.
     55   12,064
ICL Group, Ltd.
     1,220   14,615
Israel Discount Bank, Ltd. Class A
     2,086   13,047
Mizrahi Tefahot Bank, Ltd.
     877   34,407
Nice, Ltd. (c)
     58   12,739
Teva Pharmaceutical Industries, Ltd. (c)
     1,100   10,258
          229,035
ITALY — 0.7%          
Assicurazioni Generali SpA (a)
     1,549   35,797
Coca-Cola HBC AG (c)
     169   3,559
DiaSorin SpA (a)
     210   33,156
Enel SpA
     4,278   28,883
Eni SpA
     1,790   26,477
Ferrari NV
     293   64,778
FinecoBank Banca Fineco SpA
     859   13,214
Infrastrutture Wireless Italiane SpA (a)(e)
     2,415   27,314
Intesa Sanpaolo SpA
     20,342   47,157
Mediobanca Banca di Credito Finanziario SpA
     1,185   12,156
Moncler SpA
     270   15,243
Poste Italiane SpA (e)
     394   4,524
Prysmian SpA
     42   1,447
Recordati Industria Chimica e Farmaceutica SpA
     741   37,629
Telecom Italia SpA (a)(c)
     31,650   11,744
Terna - Rete Elettrica Nazionale (a)
     792   6,861
UniCredit SpA
     4,563   50,034
          419,973
JAPAN — 8.5%          
Advantest Corp. (a)
     200   15,934
Aeon Co., Ltd.
     1,000   21,500
AGC, Inc.
     400   16,165
Aisin Corp.
     100   3,456
Ajinomoto Co., Inc.
     1,100   31,493
ANA Holdings, Inc. (c)
     200   4,228
Asahi Group Holdings, Ltd.
     100   3,675
Asahi Intecc Co., Ltd.
     400   7,929
Asahi Kasei Corp.
     1,200   10,505
Astellas Pharma, Inc.
     1,300   20,468
Bandai Namco Holdings, Inc. (a)
     400   30,622
Bridgestone Corp.
     800   31,361
Brother Industries, Ltd. (a)
     500   9,215
Canon, Inc. (a)
     5,500   135,625
Capcom Co., Ltd. (a)
     200   4,891
Central Japan Railway Co.
     100   13,153
Chiba Bank, Ltd. (a)
     600   3,584
Security Description     Shares   Value
Chubu Electric Power Co., Inc. (a)
     5,000   $ 52,029
Chugai Pharmaceutical Co., Ltd.
     3,200   108,016
Concordia Financial Group, Ltd.
     1,600   6,038
Cosmos Pharmaceutical Corp.
     100   12,218
CyberAgent, Inc.
     1,900   23,888
Dai Nippon Printing Co., Ltd.
     400   9,485
Daifuku Co., Ltd.
     100   7,242
Dai-ichi Life Holdings, Inc.
     1,100   22,648
Daiichi Sankyo Co., Ltd.
     400   8,832
Daikin Industries, Ltd.
     100   18,463
Daito Trust Construction Co., Ltd.
     100   10,702
Daiwa House Industry Co., Ltd.
     500   13,186
Daiwa House REIT Investment Corp.
     4   10,809
Daiwa Securities Group, Inc. (a)
     1,400   7,990
Denso Corp.
     500   32,379
Dentsu Group, Inc.
     100   4,136
East Japan Railway Co.
     600   35,147
ENEOS HoldingS, Inc.
     5,800   21,886
Fuji Electric Co., Ltd.
     100   5,075
FUJIFILM Holdings Corp.
     1,200   74,170
Fujitsu, Ltd.
     100   15,172
GMO Payment Gateway, Inc.
     100   10,365
Hakuhodo DY Holdings, Inc.
     400   5,092
Hamamatsu Photonics KK
     1,100   59,361
Hankyu Hanshin Holdings, Inc.
     400   11,683
Hino Motors, Ltd.
     400   2,373
Hirose Electric Co., Ltd.
     200   29,429
Hitachi, Ltd.
     800   40,634
Honda Motor Co., Ltd.
     2,200   63,204
Hoya Corp.
     500   57,796
Idemitsu Kosan Co., Ltd. (a)
     700   19,464
Iida Group Holdings Co., Ltd. (a)
     200   3,485
Inpex Corp.
     1,900   22,542
Isuzu Motors, Ltd.
     600   7,850
Ito En, Ltd.
     100   4,952
ITOCHU Corp.
     3,700   126,326
Itochu Techno-Solutions Corp. (a)
     400   10,348
Japan Airlines Co., Ltd. (c)
     500   9,434
Japan Exchange Group, Inc.
     1,400   26,368
Japan Metropolitan Fund Invest REIT
     2   1,697
Japan Post Bank Co., Ltd. (a)
     4,900   39,765
Japan Post Holdings Co., Ltd.
     8,000   59,215
Japan Post Insurance Co., Ltd.
     1,300   22,878
Japan Real Estate Investment Corp. REIT
     1   5,265
Japan Tobacco, Inc.
     1,200   20,639
JFE Holdings, Inc. (a)
     1,400   19,874
Kajima Corp.
     200   2,457
Kakaku.com, Inc. (a)
     200   4,543
Kansai Electric Power Co., Inc.
     1,400   13,253
Kansai Paint Co., Ltd.
     200   3,251
Kao Corp.
     300   12,420
 
See accompanying notes to financial statements.
78

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
KDDI Corp.
     5,500   $ 181,483
Keio Corp. (a)
     200   7,885
Keisei Electric Railway Co., Ltd.
     200   5,627
Keyence Corp.
     200   94,336
Kirin Holdings Co., Ltd.
     200   3,014
Kobayashi Pharmaceutical Co., Ltd.
     100   8,091
Kobe Bussan Co., Ltd. (a)
     400   12,441
Koei Tecmo Holdings Co., Ltd. (a)
     430   14,224
Koito Manufacturing Co., Ltd.
     100   4,099
Komatsu, Ltd.
     500   12,124
Kubota Corp.
     600   11,385
Kyocera Corp.
     200   11,340
Kyowa Kirin Co., Ltd.
     200   4,693
Lasertec Corp.
     100   17,125
Lawson, Inc.
     200   7,703
Lixil Corp.
     500   9,434
M3, Inc. (a)
     500   18,410
Makita Corp.
     100   3,242
Marubeni Corp.
     2,500   29,372
Mazda Motor Corp.
     1,100   8,238
McDonald's Holdings Co. Japan, Ltd.
     500   20,886
Medipal Holdings Corp.
     800   13,281
MEIJI Holdings Co., Ltd. (a)
     400   21,784
MISUMI Group, Inc.
     200   6,039
Mitsubishi Chemical Holdings Corp.
     1,800   12,118
Mitsubishi Corp.
     3,300   125,094
Mitsubishi Electric Corp.
     1,000   11,617
Mitsubishi Estate Co., Ltd.
     100   1,499
Mitsubishi Gas Chemical Co., Inc.
     100   1,715
Mitsubishi Heavy Industries, Ltd.
     600   19,872
Mitsubishi UFJ Financial Group, Inc.
     20,800   130,292
Mitsui & Co., Ltd.
     1,800   49,354
Mitsui Chemicals, Inc.
     400   10,183
Mitsui Fudosan Co., Ltd.
     500   10,793
Mizuho Financial Group, Inc.
     10,040   129,620
MonotaRO Co., Ltd.
     2,000   43,403
MS&AD Insurance Group Holdings, Inc.
     500   16,387
Murata Manufacturing Co., Ltd.
     200   13,375
NEC Corp.
     1,200   50,917
Nexon Co., Ltd.
     1,400   33,819
Nidec Corp.
     100   8,031
Nihon M&A Center Holdings, Inc.
     200   2,846
Nintendo Co., Ltd.
     300   152,428
Nippon Building Fund, Inc. REIT
     1   5,701
Nippon Express Holdings, Inc.
     100   6,937
Nippon Paint Holdings Co., Ltd.
     1,900   16,938
Nippon Prologis REIT, Inc. (c)
     16   46,995
Nippon Shinyaku Co., Ltd.
     100   6,863
Nippon Steel Corp.
     1,400   25,041
Security Description     Shares   Value
Nippon Telegraph & Telephone Corp.
     7,300   $ 213,211
Nippon Yusen KK (a)
     200   17,730
Nissan Chemical Corp.
     100   5,957
Nissan Motor Co., Ltd. (c)
     4,900   22,115
Nisshin Seifun Group, Inc.
     400   5,622
Nissin Foods Holdings Co., Ltd.
     100   7,061
Nitori Holdings Co., Ltd.
     500   63,275
Nitto Denko Corp.
     100   7,267
Nomura Holdings, Inc.
     3,600   15,281
Nomura Real Estate Holdings, Inc.
     200   4,833
Nomura Real Estate Master Fund, Inc. REIT (c)
     1   1,328
Nomura Research Institute, Ltd.
     600   19,872
NTT Data Corp.
     2,400   47,812
Obic Co., Ltd.
     500   75,881
Odakyu Electric Railway Co., Ltd. (a)
     1,100   18,461
Oji Holdings Corp.
     2,300   11,502
Olympus Corp.
     100   1,927
Omron Corp.
     100   6,767
Ono Pharmaceutical Co., Ltd.
     500   12,630
Oracle Corp. Japan
     200   14,006
Oriental Land Co., Ltd.
     600   116,218
ORIX Corp.
     1,700   34,280
Osaka Gas Co., Ltd.
     1,000   17,236
Otsuka Corp.
     800   28,639
Otsuka Holdings Co., Ltd.
     100   3,487
Pan Pacific International Holdings Corp.
     1,600   25,890
Panasonic Corp.
     2,200   21,542
Rakuten Group, Inc.
     500   3,984
Recruit Holdings Co., Ltd.
     498   22,214
Resona Holdings, Inc.
     3,800   16,409
Ricoh Co., Ltd.
     800   7,000
Rinnai Corp.
     200   15,110
Ryohin Keikaku Co., Ltd.
     200   2,358
Santen Pharmaceutical Co., Ltd.
     1,000   10,109
SBI Holdings, Inc.
     100   2,554
SCSK Corp.
     400   6,924
Secom Co., Ltd.
     900   65,757
Seiko Epson Corp.
     100   1,517
Sekisui Chemical Co., Ltd.
     100   1,449
Sekisui House, Ltd.
     700   13,674
Seven & i Holdings Co., Ltd.
     1,000   47,893
SG Holdings Co., Ltd.
     1,300   24,763
Shimadzu Corp.
     500   17,446
Shimano, Inc.
     200   46,393
Shin-Etsu Chemical Co., Ltd.
     100   15,481
Shionogi & Co., Ltd.
     200   12,408
Shiseido Co., Ltd.
     100   5,123
Shizuoka Bank, Ltd. (a)
     1,100   7,821
Softbank Corp.
     13,500   158,830
SoftBank Group Corp.
     800   36,640
Sohgo Security Services Co., Ltd.
     200   6,591
 
See accompanying notes to financial statements.
79

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Sompo Holdings, Inc.
     400   $ 17,733
Sony Group Corp.
     700   73,417
Subaru Corp.
     600   9,630
Sumitomo Chemical Co., Ltd.
     3,100   14,354
Sumitomo Corp.
     500   8,729
Sumitomo Dainippon Pharma Co., Ltd. (a)
     400   3,981
Sumitomo Electric Industries, Ltd.
     600   7,227
Sumitomo Metal Mining Co., Ltd.
     100   5,078
Sumitomo Mitsui Financial Group, Inc.
     2,600   83,693
Sumitomo Mitsui Trust Holdings, Inc. (a)
     400   13,186
Suntory Beverage & Food, Ltd.
     600   23,036
Suzuki Motor Corp.
     200   6,942
Sysmex Corp.
     600   44,110
T&D Holdings, Inc.
     1,200   16,521
Taisei Corp.
     100   2,912
Takeda Pharmaceutical Co., Ltd.
     768   22,134
TDK Corp.
     400   14,698
Terumo Corp.
     200   6,136
TIS, Inc.
     500   11,852
Toho Co., Ltd.
     800   30,550
Tokio Marine Holdings, Inc.
     700   41,109
Tokyo Electric Power Co. Holdings, Inc. (c)
     11,400   37,851
Tokyo Electron, Ltd.
     200   104,222
Tokyo Gas Co., Ltd. (a)
     800   14,711
Tokyu Corp.
     800   10,493
TOPPAN, INC.
     500   8,923
Toray Industries, Inc.
     1,700   8,947
Toshiba Corp.
     200   7,662
Tosoh Corp.
     300   4,484
TOTO, Ltd.
     200   8,140
Toyo Suisan Kaisha, Ltd.
     500   18,002
Toyota Industries Corp.
     100   6,978
Toyota Motor Corp.
     9,600   175,786
Toyota Tsusho Corp.
     400   16,676
Trend Micro, Inc.
     400   23,596
Tsuruha Holdings, Inc.
     200   12,787
Unicharm Corp.
     200   7,183
USS Co., Ltd.
     100   1,696
Welcia Holdings Co., Ltd.
     700   17,331
West Japan Railway Co.
     100   4,194
Yakult Honsha Co., Ltd.
     100   5,372
Yamaha Motor Co., Ltd.
     200   4,541
Yamato Holdings Co., Ltd. (a)
     200   3,778
Z Holdings Corp.
     1,300   5,745
ZOZO, Inc.
     100   2,707
          5,374,483
JORDAN — 0.0% (d)          
Hikma Pharmaceuticals PLC
     245   6,648
LUXEMBOURG — 0.1%          
ArcelorMittal SA
     1,106   36,056
Security Description     Shares   Value
Eurofins Scientific SE
     358   $ 35,814
          71,870
MACAU — 0.0% (d)          
Galaxy Entertainment Group, Ltd.
     1,000   6,002
Sands China, Ltd. (c)
     2,000   4,847
          10,849
NETHERLANDS — 1.8%          
ABN AMRO Bank NV (a)(e)
     1,476   19,119
Adyen NV (c)(e)
     28   56,358
Aegon NV
     3,069   16,397
Akzo Nobel NV
     24   2,089
ASM International NV
     38   14,041
ASML Holding NV
     620   420,804
EXOR NV
     171   13,223
Heineken Holding NV
     7   554
Heineken NV
     77   7,418
ING Groep NV
     5,597   59,230
Koninklijke Ahold Delhaize NV
     3,619   117,237
Koninklijke DSM NV (a)
     60   10,848
Koninklijke KPN NV (a)
     11,602   40,573
Koninklijke Philips NV
     126   3,888
NN Group NV
     222   11,328
Randstad NV (a)
     91   5,532
Shell PLC
     8,868   246,190
Universal Music Group NV
     1,694   45,603
Wolters Kluwer NV
     430   46,208
          1,136,640
NEW ZEALAND — 0.1%          
Auckland International Airport, Ltd. (c)
     1,355   7,380
Fisher & Paykel Healthcare Corp., Ltd.
     1,034   17,512
Ryman Healthcare, Ltd.
     32   209
Spark New Zealand, Ltd.
     10,228   32,582
          57,683
NORWAY — 0.2%          
DNB Bank ASA
     946   21,648
Equinor ASA
     342   12,954
Gjensidige Forsikring ASA (a)
     545   13,631
Mowi ASA
     237   6,451
Norsk Hydro ASA
     512   5,042
Orkla ASA
     1,403   12,573
Telenor ASA
     4,503   65,274
          137,573
PORTUGAL — 0.0% (d)          
EDP - Energias de Portugal SA
     755   3,751
Galp Energia SGPS SA (a)
     673   8,623
Jeronimo Martins SGPS SA
     540   13,056
          25,430
SINGAPORE — 0.6%          
Ascendas Real Estate Investment Trust
     4,900   10,609
 
See accompanying notes to financial statements.
80

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
CapitaLand Integrated Commercial Trust REIT
     6,032   $ 10,028
Capitaland Investment, Ltd. (c)
     3,600   10,614
DBS Group Holdings, Ltd.
     2,021   53,506
Keppel Corp., Ltd.
     1,400   6,641
Mapletree Commercial Trust REIT
     4,800   6,703
Mapletree Logistics Trust REIT
     5,151   7,041
Oversea-Chinese Banking Corp., Ltd.
     6,104   55,837
Singapore Airlines, Ltd. (a)(c)
     3,150   12,802
Singapore Exchange, Ltd.
     7,900   58,199
Singapore Technologies Engineering, Ltd.
     3,000   9,133
Singapore Telecommunications, Ltd.
     55,142   107,566
STMicroelectronics NV
     156   6,872
United Overseas Bank, Ltd.
     1,200   28,392
UOL Group, Ltd.
     1,400   7,283
Venture Corp., Ltd.
     500   6,491
          397,717
SOUTH AFRICA — 0.2%          
Anglo American PLC
     2,282   119,358
SPAIN — 0.6%          
ACS Actividades de Construccion y Servicios SA (a)
     598   16,301
Aena SME SA (c)(e)
     5   840
Amadeus IT Group SA (c)
     241   15,869
Banco Bilbao Vizcaya Argentaria SA (a)
     9,807   56,850
Banco Santander SA
     23,757   81,943
CaixaBank SA (a)
     7,453   25,516
Enagas SA
     261   5,852
Endesa SA
     396   8,713
Ferrovial SA
     196   5,262
Grifols SA (a)
     192   3,521
Iberdrola SA
     3,574   39,448
Industria de Diseno Textil SA
     1,053   23,175
Red Electrica Corp. SA
     35   725
Repsol SA
     2,145   28,458
Telefonica SA
     9,896   48,321
          360,794
SWEDEN — 0.7%          
Assa Abloy AB Class B
     217   5,935
Atlas Copco AB Class A
     1,127   59,462
Atlas Copco AB Class B
     657   30,279
Boliden AB
     396   20,315
Electrolux AB Class B (a)
     324   4,975
Epiroc AB Class A
     1,127   24,452
Epiroc AB Class B
     264   4,831
Essity AB Class B (a)
     595   14,186
Evolution AB (e)
     157   16,309
H & M Hennes & Mauritz AB Class B (a)
     586   7,934
Hexagon AB Class B
     832   11,851
Security Description     Shares   Value
Husqvarna AB Class B (a)
     425   $ 4,499
Industrivarden AB Class A
     16   462
Industrivarden AB Class C
     353   9,996
Investor AB Class B
     1,840   40,702
Kinnevik AB Class B (c)
     178   4,727
Lundin Energy AB (a)
     205   8,784
Nibe Industrier AB Class B
     1,236   13,932
Sandvik AB
     1,477   31,856
Skandinaviska Enskilda Banken AB Class A (a)
     366   4,024
Skanska AB Class B (a)
     396   8,983
SKF AB Class B (a)
     383   6,327
Svenska Handelsbanken AB Class A (a)
     1,082   10,089
Swedbank AB Class A (a)
     1,173   17,747
Swedish Match AB
     866   6,587
Tele2 AB Class B
     882   13,468
Telefonaktiebolaget LM Ericsson Class B (a)
     5,696   52,746
Telia Co. AB (a)
     5,838   23,642
Volvo AB Class B (a)
     810   15,349
          474,449
SWITZERLAND — 5.4%          
ABB, Ltd.
     293   9,606
Adecco Group AG (c)
     142   6,482
Alcon, Inc.
     216   17,299
Baloise Holding AG
     17   3,050
Barry Callebaut AG
     2   4,716
Chocoladefabriken Lindt & Spruengli AG
     5   59,875
Cie Financiere Richemont SA
     131   16,798
Credit Suisse Group AG (c)
     4,033   32,168
EMS-Chemie Holding AG
     56   54,859
Geberit AG
     67   41,660
Givaudan SA
     40   166,346
Holcim, Ltd. (c)
     359   17,668
Julius Baer Group, Ltd.
     78   4,567
Kuehne + Nagel International AG
     453   129,513
Logitech International SA
     1,348   101,365
Lonza Group AG (c)
     18   13,148
Nestle SA
     6,300   822,885
Novartis AG
     4,464   394,132
Partners Group Holding AG
     66   82,729
Roche Holding AG Bearer Shares (b)
     17   7,482
Roche Holding AG (b)
     2,116   842,606
Schindler Holding AG (b)
     335   72,442
Schindler Holding AG (b)
     160   34,408
SGS SA
     13   36,390
Sika AG
     37   12,359
Sonova Holding AG
     119   50,122
Straumann Holding AG
     11   17,769
Swatch Group AG Bearer Shares
     38   10,889
Swiss Life Holding AG
     26   16,788
Swiss Prime Site AG (c)
     424   42,043
 
See accompanying notes to financial statements.
81

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Swisscom AG
     226   $ 136,300
TE Connectivity, Ltd.
     214   28,030
Temenos AG
     94   9,091
UBS Group AG
     3,368   66,408
Zurich Insurance Group AG (c)
     151   74,954
          3,436,947
UNITED KINGDOM — 2.8%          
3i Group PLC
     1,197   21,883
Admiral Group PLC
     1,226   41,372
Ashtead Group PLC
     238   15,145
Associated British Foods PLC
     189   4,136
AstraZeneca PLC ADR
     36   2,388
AstraZeneca PLC
     514   68,569
Auto Trader Group PLC (e)
     131   1,092
Aviva PLC
     3,130   18,632
BAE Systems PLC
     2,401   22,679
Barclays PLC
     21,674   42,321
Barratt Developments PLC
     737   5,069
Berkeley Group Holdings PLC (c)
     115   5,663
BP PLC
     26,126   129,116
British American Tobacco PLC ADR
     1,240   52,278
British American Tobacco PLC
     534   22,460
BT Group PLC
     12,301   29,509
Bunzl PLC
     473   18,484
Burberry Group PLC
     253   5,576
CK Hutchison Holdings, Ltd.
     6,500   47,766
CNH Industrial NV
     1,011   16,193
Coca-Cola Europacific Partners PLC
     18   875
Compass Group PLC
     1,331   28,916
Croda International PLC
     257   26,664
DCC PLC
     25   1,951
Diageo PLC
     203   10,326
Experian PLC
     536   20,826
Halma PLC
     562   18,573
Hargreaves Lansdown PLC
     222   2,946
HSBC Holdings PLC
     25,877   179,009
Imperial Brands PLC
     2,420   51,315
Informa PLC (c)
     798   6,323
Intertek Group PLC
     241   16,576
J Sainsbury PLC
     3,424   11,392
JD Sports Fashion PLC (c)
     2,450   4,782
Johnson Matthey PLC
     203   5,021
Just Eat Takeaway.com NV (a)(c)(e)
     67   2,293
Kingfisher PLC
     2,442   8,212
Land Securities Group PLC REIT
     641   6,630
Legal & General Group PLC
     3,392   12,148
Liberty Global PLC Class C (c)
     401   10,390
Linde PLC (c)
     72   22,999
Lloyds Banking Group PLC
     88,515   54,839
London Stock Exchange Group PLC
     62   6,503
Security Description     Shares   Value
M&G PLC
     6,643   $ 19,347
Melrose Industries PLC
     4,040   6,641
National Grid PLC
     2,604   40,196
Natwest Group PLC
     6,537   18,582
Next PLC
     79   6,274
Ocado Group PLC (c)
     89   1,372
Pearson PLC
     239   2,362
Persimmon PLC
     507   14,359
Prudential PLC
     4,315   64,427
Reckitt Benckiser Group PLC
     896   68,801
RELX PLC
     1,279   40,130
Rentokil Initial PLC
     888   6,150
Rolls-Royce Holdings PLC (c)
     1,521   2,025
Sage Group PLC
     1,390   12,833
Schroders PLC
     121   5,148
Severn Trent PLC
     465   18,845
Smith & Nephew PLC
     239   3,839
Spirax-Sarco Engineering PLC
     113   18,650
SSE PLC
     619   14,250
St James's Place PLC
     900   17,165
Standard Chartered PLC
     5,828   39,150
Taylor Wimpey PLC
     1,468   2,526
Tesco PLC
     3,701   13,449
Unilever PLC
     3,619   164,629
United Utilities Group PLC
     718   10,631
Vodafone Group PLC
     47,120   77,452
Whitbread PLC (c)
     49   1,843
WPP PLC
     551   7,277
          1,778,193
UNITED STATES — 63.9%          
3M Co.
     741   110,320
A.O. Smith Corp.
     205   13,097
Abbott Laboratories
     374   44,267
AbbVie, Inc.
     442   71,653
ABIOMED, Inc. (c)
     96   31,799
Accenture PLC Class A
     1,444   486,960
Activision Blizzard, Inc.
     1,668   133,623
Adobe, Inc. (c)
     1,068   486,602
Advance Auto Parts, Inc.
     41   8,485
Advanced Micro Devices, Inc. (c)
     2,101   229,723
AES Corp.
     300   7,719
Aflac, Inc.
     810   52,156
Agilent Technologies, Inc.
     342   45,257
AGNC Investment Corp. REIT
     215   2,817
Air Products & Chemicals, Inc.
     36   8,997
Akamai Technologies, Inc. (c)
     761   90,856
Albemarle Corp.
     24   5,308
Align Technology, Inc. (c)
     108   47,088
Alleghany Corp. (c)
     35   29,645
Allegion PLC
     103   11,307
Alliant Energy Corp.
     258   16,120
Allstate Corp.
     1,007   139,480
Ally Financial, Inc.
     510   22,175
Alphabet, Inc. Class A (c)
     209   581,302
Alphabet, Inc. Class C (c)
     276   770,865
 
See accompanying notes to financial statements.
82

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Altria Group, Inc.
     933   $ 48,749
Amazon.com, Inc. (c)
     90   293,396
Amcor PLC CDI
     848   9,749
AMERCO
     60   35,816
Ameren Corp.
     580   54,381
American Electric Power Co., Inc.
     882   87,997
American Express Co.
     181   33,847
American Financial Group, Inc.
     148   21,552
American International Group, Inc.
     565   35,465
American Tower Corp. REIT
     78   19,595
American Water Works Co., Inc.
     257   42,541
Ameriprise Financial, Inc.
     162   48,658
AmerisourceBergen Corp.
     725   112,165
Amgen, Inc.
     377   91,166
Amphenol Corp. Class A
     1,979   149,118
Analog Devices, Inc.
     243   40,139
Annaly Capital Management, Inc. REIT (a)
     543   3,823
Anthem, Inc.
     162   79,578
Aon PLC Class A
     577   187,889
Apollo Global Management, Inc.
     289   17,915
Apple, Inc.
     9,145   1,596,808
Applied Materials, Inc.
     1,306   172,131
Aptiv PLC (c)
     154   18,435
Aramark
     108   4,061
Arch Capital Group, Ltd. (c)
     483   23,387
Archer-Daniels-Midland Co.
     382   34,479
Arista Networks, Inc. (c)
     341   47,392
Arrow Electronics, Inc. (c)
     143   16,964
Arthur J Gallagher & Co.
     301   52,555
AT&T, Inc.
     11,283   266,617
Atmos Energy Corp. (a)
     72   8,603
Autodesk, Inc. (c)
     24   5,144
Automatic Data Processing, Inc.
     1,163   264,629
AutoZone, Inc. (c)
     54   110,407
AvalonBay Communities, Inc. REIT
     47   11,673
Avery Dennison Corp.
     150   26,096
Baker Hughes Co.
     864   31,458
Ball Corp.
     60   5,400
Bank of America Corp.
     5,799   239,035
Bank of New York Mellon Corp.
     562   27,892
Bausch Health Cos., Inc. (c)
     109   2,492
Baxter International, Inc.
     912   70,716
Becton Dickinson & Co.
     275   73,150
Bentley Systems, Inc. Class B
     72   3,181
Berkshire Hathaway, Inc. Class B (c)
     1,327   468,312
Best Buy Co., Inc.
     474   43,087
Biogen, Inc. (c)
     268   56,441
BioMarin Pharmaceutical, Inc. (c)
     745   57,440
Bio-Rad Laboratories, Inc. Class A (c)
     60   33,794
Black Knight, Inc. (c)
     1,203   69,762
Security Description     Shares   Value
BlackRock, Inc.
     198   $ 151,306
Blackstone, Inc.
     910   115,515
Boeing Co. (c)
     107   20,491
Booking Holdings, Inc. (c)
     17   39,924
Booz Allen Hamilton Holding Corp.
     757   66,495
BorgWarner, Inc.
     257   9,997
Boston Scientific Corp. (c)
     276   12,224
Bristol-Myers Squibb Co.
     927   67,699
Broadcom, Inc.
     71   44,707
Broadridge Financial Solutions, Inc.
     610   94,983
Brown & Brown, Inc.
     1,403   101,395
Brown-Forman Corp. Class B
     467   31,298
Bunge, Ltd.
     89   9,862
Burlington Stores, Inc. (c)
     30   5,465
C.H. Robinson Worldwide, Inc.
     1,191   128,283
Cadence Design Systems, Inc. (c)
     454   74,665
Camden Property Trust REIT
     72   11,966
Campbell Soup Co.
     877   39,088
Capital One Financial Corp.
     317   41,619
Cardinal Health, Inc.
     805   45,644
CarMax, Inc. (a)(c)
     30   2,894
Carnival Corp. (c)
     515   10,413
Carrier Global Corp.
     37   1,697
Caterpillar, Inc.
     187   41,667
Cboe Global Markets, Inc.
     665   76,089
CBRE Group, Inc. Class A (c)
     244   22,331
CDW Corp.
     48   8,587
Celanese Corp.
     173   24,717
Centene Corp. (c)
     398   33,508
CenterPoint Energy, Inc.
     84   2,574
Cerner Corp.
     131   12,256
CF Industries Holdings, Inc.
     108   11,130
Charles Schwab Corp.
     577   48,647
Charter Communications, Inc. Class A (c)
     109   59,462
Cheniere Energy, Inc.
     144   19,966
Chevron Corp.
     796   129,613
Chubb, Ltd.
     328   70,159
Church & Dwight Co., Inc.
     1,326   131,778
Cigna Corp.
     282   67,570
Cincinnati Financial Corp.
     161   21,890
Cintas Corp.
     149   63,383
Cisco Systems, Inc.
     9,149   510,148
Citigroup, Inc.
     2,848   152,083
Citizens Financial Group, Inc.
     623   28,241
Citrix Systems, Inc.
     888   89,599
Clorox Co.
     715   99,406
Cloudflare, Inc. Class A (c)
     120   14,364
CME Group, Inc.
     442   105,134
CMS Energy Corp.
     496   34,690
Coca-Cola Co.
     5,346   331,452
Cognex Corp.
     205   15,816
 
See accompanying notes to financial statements.
83

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Cognizant Technology Solutions Corp. Class A
     1,125   $ 100,879
Coinbase Global, Inc. Class A (c)
     72   13,670
Colgate-Palmolive Co.
     850   64,456
Comcast Corp. Class A
     3,339   156,332
Conagra Brands, Inc.
     253   8,493
ConocoPhillips
     740   74,000
Consolidated Edison, Inc.
     2,752   260,559
Constellation Brands, Inc. Class A
     19   4,376
Constellation Energy Corp.
     174   9,788
Cooper Cos., Inc.
     120   50,111
Copart, Inc. (c)
     301   37,766
Corning, Inc.
     395   14,579
Corteva, Inc.
     491   28,223
Costco Wholesale Corp.
     719   414,036
Coterra Energy, Inc.
     589   15,885
Crown Castle International Corp. REIT
     545   100,607
CSX Corp.
     721   27,001
Cummins, Inc.
     159   32,612
CVS Health Corp.
     1,104   111,736
D.R. Horton, Inc.
     443   33,008
Danaher Corp.
     461   135,225
Darden Restaurants, Inc.
     97   12,896
DaVita, Inc. (c)
     113   12,781
Deere & Co.
     114   47,362
Dell Technologies, Inc. Class C (c)
     107   5,370
Delta Air Lines, Inc. (c)
     288   11,396
Devon Energy Corp.
     132   7,805
Digital Realty Trust, Inc. REIT
     36   5,105
Discover Financial Services
     161   17,741
Discovery, Inc. Class A (c)
     197   4,909
Discovery, Inc. Class C (c)
     546   13,634
DISH Network Corp. Class A (c)
     138   4,368
Dollar General Corp.
     954   212,389
Dollar Tree, Inc. (c)
     270   43,241
Dominion Energy, Inc.
     1,865   158,469
Domino's Pizza, Inc.
     168   68,378
Dover Corp.
     90   14,121
Dow, Inc.
     299   19,052
DTE Energy Co.
     163   21,550
Duke Energy Corp.
     1,716   191,609
Duke Realty Corp. REIT
     454   26,359
DuPont de Nemours, Inc.
     273   20,087
Eastman Chemical Co.
     30   3,362
Eaton Corp. PLC
     180   27,317
eBay, Inc.
     352   20,156
Ecolab, Inc.
     59   10,417
Edison International
     264   18,506
Edwards Lifesciences Corp. (c)
     757   89,114
Elanco Animal Health, Inc. (c)
     120   3,131
Electronic Arts, Inc.
     1,033   130,685
Eli Lilly & Co.
     1,495   428,123
Emerson Electric Co.
     949   93,049
Security Description     Shares   Value
Entergy Corp.
     130   $ 15,178
EOG Resources, Inc.
     330   39,346
Equinix, Inc. REIT
     12   8,899
Equitable Holdings, Inc.
     204   6,306
Equity LifeStyle Properties, Inc. REIT
     115   8,795
Equity Residential REIT
     324   29,134
Erie Indemnity Co. Class A
     235   41,391
Essential Utilities, Inc.
     132   6,749
Essex Property Trust, Inc. REIT
     30   10,364
Estee Lauder Cos., Inc. Class A
     312   84,964
Etsy, Inc. (c)
     132   16,405
Everest Re Group, Ltd.
     67   20,192
Evergy, Inc.
     509   34,785
Eversource Energy
     508   44,801
Exact Sciences Corp. (c)
     12   839
Exelon Corp.
     522   24,863
Expedia Group, Inc. (c)
     12   2,348
Expeditors International of Washington, Inc.
     1,255   129,466
Extra Space Storage, Inc. REIT
     83   17,065
Exxon Mobil Corp.
     2,473   204,245
F5, Inc. (c)
     271   56,625
FactSet Research Systems, Inc.
     43   18,668
Fair Isaac Corp. (c)
     7   3,265
Fastenal Co.
     996   59,162
FedEx Corp.
     143   33,089
Ferguson PLC
     382   52,207
Fidelity National Financial, Inc.
     557   27,204
Fidelity National Information Services, Inc.
     616   61,859
Fifth Third Bancorp
     609   26,211
First Republic Bank
     41   6,646
FirstEnergy Corp.
     299   13,712
Fiserv, Inc. (c)
     804   81,526
FleetCor Technologies, Inc. (c)
     23   5,728
FMC Corp.
     60   7,894
Ford Motor Co.
     3,753   63,463
Fortinet, Inc. (c)
     173   59,121
Fortive Corp.
     1   61
Fortune Brands Home & Security, Inc.
     120   8,914
Fox Corp. Class A
     42   1,657
Fox Corp. Class B
     192   6,966
Franklin Resources, Inc.
     190   5,305
Freeport-McMoRan, Inc.
     239   11,888
Garmin, Ltd.
     150   17,792
Generac Holdings, Inc. (c)
     72   21,403
General Dynamics Corp.
     287   69,219
General Electric Co.
     328   30,012
General Mills, Inc.
     631   42,731
General Motors Co. (c)
     1,533   67,053
Genuine Parts Co.
     150   18,903
Gilead Sciences, Inc.
     3,630   215,804
GlaxoSmithKline PLC
     7,943   172,267
Global Payments, Inc.
     108   14,779
 
See accompanying notes to financial statements.
84

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Goldman Sachs Group, Inc.
     228   $ 75,263
Halliburton Co.
     610   23,101
Hartford Financial Services Group, Inc.
     419   30,088
Hasbro, Inc.
     59   4,833
HCA Healthcare, Inc.
     125   31,328
Healthpeak Properties, Inc. REIT
     149   5,115
HEICO Corp.
     115   17,657
Henry Schein, Inc. (c)
     359   31,301
Hershey Co.
     1,091   236,343
Hess Corp.
     18   1,927
Hewlett Packard Enterprise Co.
     1,175   19,634
Hologic, Inc. (c)
     252   19,359
Home Depot, Inc.
     478   143,080
Honeywell International, Inc.
     999   194,385
Horizon Therapeutics Plc (c)
     540   56,813
Hormel Foods Corp.
     2,591   133,540
Howmet Aerospace, Inc.
     114   4,097
HP, Inc.
     629   22,833
Humana, Inc.
     78   33,943
Huntington Bancshares, Inc.
     765   11,184
Huntington Ingalls Industries, Inc.
     53   10,570
IDEX Corp.
     150   28,760
IDEXX Laboratories, Inc. (c)
     120   65,647
Illinois Tool Works, Inc.
     370   77,478
Illumina, Inc. (c)
     23   8,036
Incyte Corp. (c)
     661   52,497
Intel Corp.
     7,999   396,430
Intercontinental Exchange, Inc.
     623   82,311
International Business Machines Corp.
     705   91,664
International Flavors & Fragrances, Inc.
     88   11,557
International Paper Co.
     289   13,337
Interpublic Group of Cos., Inc.
     383   13,577
Intuit, Inc.
     400   192,336
Intuitive Surgical, Inc. (c)
     411   123,990
Invesco, Ltd.
     673   15,519
J.M. Smucker Co.
     413   55,924
Jack Henry & Associates, Inc.
     528   104,042
James Hardie Industries PLC CDI
     163   4,970
Jazz Pharmaceuticals PLC (c)
     36   5,604
JB Hunt Transport Services, Inc.
     95   19,075
Johnson & Johnson
     5,418   960,232
Johnson Controls International PLC
     376   24,654
JPMorgan Chase & Co.
     1,766   240,741
Juniper Networks, Inc.
     1,427   53,027
Kellogg Co.
     1,319   85,062
KeyCorp.
     909   20,343
Keysight Technologies, Inc. (c)
     1,079   170,450
Kimberly-Clark Corp.
     520   64,043
Kinder Morgan, Inc.
     707   13,369
KKR & Co., Inc.
     180   10,525
KLA Corp.
     259   94,810
Security Description     Shares   Value
Knight-Swift Transportation Holdings, Inc.
     132   $ 6,661
Kraft Heinz Co.
     526   20,719
Kroger Co.
     6,100   349,957
L3Harris Technologies, Inc.
     78   19,381
Laboratory Corp. of America Holdings (c)
     84   22,147
Lam Research Corp.
     227   122,037
Las Vegas Sands Corp. (c)
     186   7,230
Lear Corp.
     66   9,411
Lennar Corp. Class A
     150   12,176
Liberty Broadband Corp. Class A (c)
     48   6,291
Liberty Broadband Corp. Class C (c)
     719   97,295
Lincoln National Corp.
     174   11,373
LKQ Corp.
     157   7,129
Lockheed Martin Corp.
     386   170,380
Loews Corp.
     95   6,158
Lowe's Cos., Inc.
     199   40,236
Lululemon Athletica, Inc. (c)
     163   59,532
Lumen Technologies, Inc. (a)
     1,169   13,175
LyondellBasell Industries NV Class A
     491   50,485
M&T Bank Corp.
     138   23,391
Marathon Petroleum Corp.
     637   54,464
Markel Corp. (c)
     37   54,584
MarketAxess Holdings, Inc.
     108   36,742
Marsh & McLennan Cos., Inc.
     1,008   171,783
Martin Marietta Materials, Inc.
     12   4,619
Masimo Corp. (c)
     168   24,451
Mastercard, Inc. Class A
     1,187   424,210
McCormick & Co., Inc.
     949   94,710
McDonald's Corp.
     713   176,311
McKesson Corp.
     247   75,614
Medtronic PLC
     835   92,643
Merck & Co., Inc.
     6,391   524,382
Meta Platforms, Inc. Class A (c)
     3,428   762,250
MetLife, Inc.
     430   30,220
MGM Resorts International
     113   4,739
Micron Technology, Inc.
     773   60,209
Microsoft Corp.
     4,463   1,375,988
Moderna, Inc. (c)
     565   97,327
Mohawk Industries, Inc. (c)
     60   7,452
Molina Healthcare, Inc. (c)
     12   4,003
Molson Coors Beverage Co. Class B
     120   6,406
Mondelez International, Inc. Class A
     871   54,681
Monolithic Power Systems, Inc.
     48   23,313
Monster Beverage Corp. (c)
     550   43,945
Moody's Corp.
     23   7,760
Morgan Stanley
     721   63,015
Mosaic Co.
     401   26,667
Motorola Solutions, Inc.
     858   207,808
NetApp, Inc.
     149   12,367
Netflix, Inc. (c)
     211   79,038
 
See accompanying notes to financial statements.
85

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Neurocrine Biosciences, Inc. (c)
     420   $ 39,375
Newell Brands, Inc.
     198   4,239
Newmont Corp.
     4,263   338,695
NextEra Energy, Inc.
     3,615   306,227
NIKE, Inc. Class B
     1,653   222,428
NiSource, Inc.
     61   1,940
Nordson Corp.
     48   10,900
Norfolk Southern Corp.
     113   32,230
Northern Trust Corp.
     72   8,384
Northrop Grumman Corp.
     60   26,833
NRG Energy, Inc.
     192   7,365
Nucor Corp.
     377   56,041
NVIDIA Corp.
     3,202   873,698
NVR, Inc. (c)
     6   26,804
Occidental Petroleum Corp.
     639   36,257
Old Dominion Freight Line, Inc.
     151   45,101
Omnicom Group, Inc.
     298   25,294
ONEOK, Inc.
     120   8,476
Oracle Corp.
     1,441   119,214
O'Reilly Automotive, Inc. (c)
     119   81,510
Otis Worldwide Corp.
     107   8,234
PACCAR, Inc.
     132   11,625
Packaging Corp. of America
     115   17,953
Palo Alto Networks, Inc. (a)(c)
     79   49,178
Paramount Global Class B (a)
     628   23,745
Parker-Hannifin Corp.
     19   5,391
Paychex, Inc.
     2,067   282,084
Paycom Software, Inc. (c)
     77   26,671
PayPal Holdings, Inc. (c)
     1,159   134,038
Peloton Interactive, Inc. Class A (c)
     270   7,133
Pentair PLC
     145   7,860
PepsiCo, Inc.
     2,217   371,081
PerkinElmer, Inc.
     48   8,374
Pfizer, Inc.
     4,087   211,584
PG&E Corp. (c)
     1,573   18,782
Philip Morris International, Inc.
     420   39,455
Phillips 66
     455   39,307
Pioneer Natural Resources Co.
     43   10,751
PNC Financial Services Group, Inc.
     276   50,908
Pool Corp.
     60   25,371
PPG Industries, Inc.
     264   34,602
PPL Corp.
     490   13,994
Principal Financial Group, Inc.
     107   7,855
Procter & Gamble Co.
     1,822   278,402
Progressive Corp.
     1,830   208,602
Prologis, Inc. REIT
     143   23,092
Prudential Financial, Inc.
     161   19,025
Public Service Enterprise Group, Inc.
     168   11,760
Public Storage REIT
     748   291,929
PulteGroup, Inc.
     336   14,078
QIAGEN NV (c)
     937   46,425
QUALCOMM, Inc.
     1,291   197,291
Quest Diagnostics, Inc.
     198   27,098
Security Description     Shares   Value
Raymond James Financial, Inc.
     135   $ 14,838
Raytheon Technologies Corp.
     611   60,532
Realty Income Corp. REIT
     175   12,128
Regeneron Pharmaceuticals, Inc. (c)
     581   405,782
Regions Financial Corp.
     951   21,169
Republic Services, Inc.
     1,707   226,178
ResMed, Inc.
     211   51,170
Rivian Automotive, Inc. Class A (c)
     60   3,014
Robert Half International, Inc.
     199   22,722
Rockwell Automation, Inc.
     139   38,924
Rollins, Inc.
     873   30,599
Roper Technologies, Inc.
     12   5,667
Ross Stores, Inc.
     382   34,556
Royal Caribbean Cruises, Ltd. (c)
     121   10,137
salesforce.com, Inc. (c)
     96   20,383
SBA Communications Corp. REIT
     48   16,517
Schlumberger NV
     1,595   65,889
Schneider Electric SE
     192   32,506
Seagate Technology Holdings PLC
     203   18,250
Seagen, Inc. (c)
     625   90,031
SEI Investments Co.
     185   11,139
Sempra Energy
     126   21,183
Sherwin-Williams Co.
     300   74,886
Simon Property Group, Inc. REIT
     126   16,577
Sirius XM Holdings, Inc.
     2,044   13,531
Skyworks Solutions, Inc.
     245   32,654
Snap-on, Inc.
     114   23,425
Southern Co.
     3,245   235,295
Southwest Airlines Co. (c)
     72   3,298
Stanley Black & Decker, Inc.
     197   27,539
Starbucks Corp.
     745   67,773
State Street Corp. (f)
     175   15,246
Steel Dynamics, Inc.
     269   22,443
Stellantis NV (b)
     2,066   34,017
Stellantis NV (b)
     814   13,404
Stryker Corp.
     133   35,558
SVB Financial Group (c)
     79   44,197
Swiss Re AG
     192   18,385
Synchrony Financial
     244   8,494
Sysco Corp.
     232   18,943
T Rowe Price Group, Inc.
     406   61,383
Take-Two Interactive Software, Inc. (c)
     701   107,772
Target Corp.
     1,393   295,622
Teladoc Health, Inc. (a)(c)
     48   3,462
Tenaris SA
     1,029   15,748
Teradyne, Inc.
     341   40,316
Tesla, Inc. (c)
     12   12,931
Texas Instruments, Inc.
     1,875   344,025
Textron, Inc.
     96   7,140
Thermo Fisher Scientific, Inc.
     79   46,661
TJX Cos., Inc.
     1,430   86,629
 
See accompanying notes to financial statements.
86

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
T-Mobile US, Inc. (c)
     1,939   $ 248,871
Tractor Supply Co.
     163   38,039
Tradeweb Markets, Inc. Class A
     709   62,300
Trane Technologies PLC
     228   34,816
Travelers Cos., Inc.
     498   91,000
Truist Financial Corp.
     804   45,587
Tyler Technologies, Inc. (c)
     288   128,128
Tyson Foods, Inc. Class A
     222   19,898
Uber Technologies, Inc. (c)
     36   1,284
UDR, Inc. REIT
     199   11,417
UGI Corp.
     6   217
Ulta Beauty, Inc. (c)
     53   21,106
Union Pacific Corp.
     951   259,823
United Parcel Service, Inc. Class B
     144   30,882
United Rentals, Inc. (c)
     41   14,564
UnitedHealth Group, Inc.
     1,438   733,337
Universal Health Services, Inc. Class B
     107   15,510
US Bancorp
     789   41,935
Valero Energy Corp.
     432   43,865
Veeva Systems, Inc. Class A (c)
     156   33,144
Ventas, Inc. REIT
     131   8,091
VeriSign, Inc. (c)
     491   109,228
Verizon Communications, Inc.
     9,218   469,565
Vertex Pharmaceuticals, Inc. (c)
     1,252   326,734
VF Corp.
     192   10,917
Viatris, Inc.
     2,065   22,467
Visa, Inc. Class A
     3,009   667,306
Vistra Corp.
     360   8,370
VMware, Inc. Class A
     155   17,650
Vulcan Materials Co.
     12   2,204
W.W. Grainger, Inc.
     108   55,705
Walmart, Inc.
     2,357   351,004
Walgreens Boots Alliance, Inc.
     900   40,293
Walt Disney Co. (c)
     778   106,710
Waste Connections, Inc.
     906   126,568
Waste Management, Inc.
     2,133   338,081
Waters Corp. (c)
     43   13,347
WEC Energy Group, Inc.
     1,301   129,853
Wells Fargo & Co.
     4,007   194,179
Welltower, Inc. REIT
     119   11,441
West Pharmaceutical Services, Inc.
     209   85,838
Western Digital Corp. (c)
     119   5,908
Western Union Co.
     3,289   61,636
Westrock Co.
     222   10,441
Weyerhaeuser Co. REIT
     84   3,184
Whirlpool Corp.
     91   15,723
Williams Cos., Inc.
     323   10,791
Willis Towers Watson PLC
     90   21,260
WP Carey, Inc. REIT
     101   8,165
WR Berkley Corp.
     323   21,475
Xcel Energy, Inc.
     2,364   170,610
Yum! Brands, Inc.
     73   8,653
Zimmer Biomet Holdings, Inc.
     72   9,209
Security Description     Shares   Value
Zoetis, Inc.
     787   $ 148,420
Zoom Video Communications, Inc. Class A (c)
     168   19,695
          40,604,754
ZAMBIA — 0.0% (d)          
First Quantum Minerals, Ltd. (a)
     406   14,068
TOTAL COMMON STOCKS

(Cost $50,656,560)
         63,294,249
       
RIGHTS — 0.0% (d)    
FRANCE — 0.0% (d)      
Electricite de France SA (expiring 04/04/22) (b)(c)

(Cost: $0)
   334 125
SHORT-TERM INVESTMENTS — 1.2%  
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (g)(h)
 49,822 49,817
State Street Navigator Securities Lending Portfolio II (f)(i)
 737,952 737,952
TOTAL SHORT-TERM INVESTMENTS

(Cost $787,765)
 787,769
TOTAL INVESTMENTS — 100.8%

(Cost $51,444,325)
 64,082,143
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.8)%
(518,047)
NET ASSETS — 100.0%
$ 63,564,096
(a) All or a portion of the shares of the security are on loan at March 31, 2022.
(b) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(c) Non-income producing security.
(d) Amount is less than 0.05% of net assets.
(e) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.3% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(f) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(g) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(h) The rate shown is the annualized seven-day yield at March 31, 2022.
(i) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
CDI CREST Depository Interest
REIT Real Estate Investment Trust
 
See accompanying notes to financial statements.
87

SPDR MSCI WORLD STRATEGICFACTORS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $63,294,249   $ —   $—   $63,294,249
Rights
   —   125   —   125
Short-Term Investments
   787,769   —   —   787,769
TOTAL INVESTMENTS
   $64,082,018   $125   $—   $64,082,143
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Information Technology 21.2%
  Health Care 15.7
  Financials 13.5
  Communication Services 10.2
  Consumer Staples 9.4
  Industrials 9.3
  Consumer Discretionary 6.9
  Materials 4.7
  Utilities 4.2
  Energy 2.7
  Real Estate 1.8
  Short-Term Investments 1.2
  Liabilities in Excess of Other Assets (0.8)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Corp.
 146   $ 12,369   $ 2,530   $ —   $ —   $347   175   $ 15,246   $ 166
State Street Institutional Liquid Reserves Fund, Premier Class
 72,351   72,365   966,457   988,945   (64)   4   49,822   49,817   26
State Street Navigator Securities Lending Portfolio II
 589,880   589,880   2,641,218   2,493,146   —   —   737,952   737,952   1,134
Total
     $674,614   $3,610,205   $3,482,091   $(64)   $351       $803,015   $1,326
See accompanying notes to financial statements.
88

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 100.3%        
CHINA — 43.4%          
111, Inc. ADR (a)
     13,685   $ 36,402
17 Education & Technology Group, Inc. (a)(b)
     21,307   56,677
360 DigiTech, Inc. ADR
     4,127   63,515
360 Security Technology, Inc. Class A (a)
     15,600   24,525
3SBio, Inc. (a)(c)
     35,000   28,603
51job, Inc. ADR (a)(b)
     2,777   162,593
5I5J Holding Group Co., Ltd. Class A
     82,900   49,494
9F, Inc. ADR (a)
     47,501   42,038
AAC Technologies Holdings, Inc. (a)(b)
     64,000   155,109
Addsino Co., Ltd. Class A
     27,100   46,447
Advanced Technology & Materials Co., Ltd. Class A
     46,000   58,043
AECC Aero-Engine Control Co., Ltd. Class A
     32,400   118,461
AECC Aviation Power Co., Ltd. Class A
     14,300   101,144
Aerospace Hi-Tech Holdings Grp, Ltd. Class A (a)
     38,167   55,434
Agile Group Holdings, Ltd. (b)
     301,598   152,890
Agora, Inc. ADR (a)
     1,829   18,180
Agricultural Bank of China, Ltd. Class H
     2,406,703   925,017
Air China, Ltd. Class H (a)(b)
     337,414   236,535
Airtac International Group
     12,088   392,787
AK Medical Holdings, Ltd. (b)(c)
     10,000   5,950
Akeso, Inc. (a)(b)(c)
     56,000   119,274
Alibaba Group Holding, Ltd. ADR (a)
     155,552   16,924,058
A-Living Smart City Services Co., Ltd. (c)
     23,000   32,188
All Winner Technology Co., Ltd. Class A
     9,000   76,445
Alpha Group Class A (a)
     35,300   27,581
Alphamab Oncology (a)(b)(c)
     61,000   61,924
Aluminum Corp. of China, Ltd. Class H (a)
     636,304   373,752
Angang Steel Co., Ltd. Class H
     325,616   150,098
Anhui Conch Cement Co., Ltd. Class H
     158,860   817,486
Anhui Expressway Co., Ltd. Class H
     32,000   31,259
Anhui Guangxin Agrochemical Co., Ltd. Class A
     26,800   134,673
Anhui Gujing Distillery Co., Ltd. Class B
     13,600   175,813
Anhui Honglu Steel Construction Group Co., Ltd. Class A
     6,600   43,947
Anhui Jiangnan Chemical Industry Co., Ltd. Class A
     90,580   91,891
Anhui Jinhe Industrial Co., Ltd. Class A
     15,500   96,251
Security Description     Shares   Value
Anhui Transport Consulting & Design Institute Co., Ltd. Class A
     36,000   $ 55,576
Anhui Truchum Advanced Materials & Technology Co., Ltd. Class A
     49,900   73,182
ANTA Sports Products, Ltd.
     102,725   1,290,719
Aotecar New Energy Technology Co., Ltd. Class A (a)
     238,600   107,496
Apeloa Pharmaceutical Co., Ltd. Class A
     29,200   143,790
Ascentage Pharma Group International (a)(b)(c)
     9,100   19,614
Autobio Diagnostics Co., Ltd. Class A
     10,880   82,541
Autohome, Inc. ADR
     5,011   152,384
Avary Holding Shenzhen Co., Ltd. Class A
     10,000   45,399
AVIC Electromechanical Systems Co., Ltd. Class A
     44,000   74,996
AviChina Industry & Technology Co., Ltd. Class H (b)
     405,000   224,960
AVICOPTER PLC Class A
     8,400   67,352
Bafang Electric Suzhou Co., Ltd. Class A
     1,800   49,482
BAIC Motor Corp., Ltd. Class H (c)
     179,000   60,113
Baidu, Inc. ADR (a)
     27,758   3,672,383
Bank of China, Ltd. Class H
     6,047,466   2,432,454
Bank of Communications Co., Ltd. Class H
     2,309,975   1,657,693
Bank of Jiangsu Co., Ltd. Class A
     121,550   134,990
Bank of Nanjing Co., Ltd. Class A
     82,400   138,499
Bank of Ningbo Co., Ltd. Class A
     49,260   290,139
Bank of Shanghai Co., Ltd. Class A
     63,500   66,420
Baoshan Iron & Steel Co., Ltd. Class A
     118,900   126,428
Baozun, Inc. ADR (a)
     2,348   20,146
BBMG Corp. Class H
     205,000   33,244
Beibuwan Port Co., Ltd. Class A
     40,100   47,313
BeiGene, Ltd. ADR (a)(b)
     3,629   684,429
Beijing BDStar Navigation Co., Ltd. Class A (a)
     13,600   70,998
Beijing Capital International Airport Co., Ltd. Class H (a)
     98,000   57,438
Beijing Chunlizhengda Medical Instruments Co., Ltd. Class H (a)
     3,250   3,909
Beijing Easpring Material Technology Co., Ltd. Class A
     3,600   42,646
Beijing Enterprises Clean Energy Group, Ltd. (a)
     570,400   5,463
Beijing Enterprises Holdings, Ltd.
     71,500   226,878
 
See accompanying notes to financial statements.
89

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Beijing Enterprises Urban Resources Group, Ltd. (a)
     16,000   $ 1,512
Beijing Enterprises Water Group, Ltd.
     402,000   123,710
Beijing Jetsen Technology Co., Ltd. Class A (a)
     225,700   209,057
Beijing Shiji Information Technology Co., Ltd. Class A
     14,880   46,646
Beijing SL Pharmaceutical Co., Ltd. Class A
     26,500   44,667
Beijing Tiantan Biological Products Corp., Ltd. Class A
     25,556   99,356
Berry Genomics Co., Ltd. Class A (a)
     15,400   41,144
BEST, Inc. ADR (a)(b)
     80,906   52,184
Better Life Commercial Chain Share Co., Ltd. Class A
     49,000   46,467
BGI Genomics Co., Ltd. Class A
     400   5,084
Biem.L.Fdlkk Garment Co., Ltd. Class A
     19,960   74,267
Bilibili, Inc. ADR (a)(b)
     18,044   461,566
Bit Digital, Inc. (a)
     8,782   31,615
BIT Mining, Ltd. ADR (a)(b)
     10,545   29,421
Blue Sail Medical Co., Ltd. Class A
     24,700   51,360
BOE Technology Group Co., Ltd. Class A
     133,400   90,571
BOE Technology Group Co., Ltd. Class B
     148,800   67,072
Bosideng International Holdings, Ltd. (b)
     178,000   83,188
B-Soft Co., Ltd. Class A
     154,710   184,976
BTG Hotels Group Co., Ltd. Class A (a)
     19,600   70,766
BYD Co., Ltd. Class H
     85,827   2,459,277
BYD Electronic International Co., Ltd. (b)
     73,000   147,279
Canaan, Inc. (a)(b)
     14,488   78,670
Cango, Inc. ADR (a)(b)
     588   1,523
CanSino Biologics, Inc. Class H (a)(b)(c)
     4,000   64,305
CECEP Solar Energy Co., Ltd. Class A
     99,600   137,442
CETC Digital Technology Co., Ltd. Class A
     15,200   62,494
CGN New Energy Holdings Co., Ltd. (b)
     130,000   57,103
CGN Nuclear Technology Development Co., Ltd. Class A
     45,200   74,549
CGN Power Co., Ltd. Class H (c)
     1,133,000   296,582
Chacha Food Co., Ltd. Class A
     12,900   109,226
Changchun Faway Automobile Components Co., Ltd. Class A
     36,990   56,696
Changchun High & New Technology Industry Group, Inc. Class A
     600   15,865
Security Description     Shares   Value
Changjiang Securities Co., Ltd. Class A
     49,100   $ 48,187
Changzhou Tronly New Electronic Materials Co., Ltd. Class A
     11,200   18,172
ChemPartner PharmaTech Co., Ltd. Class A
     2,000   4,269
Chengdu Fusen Noble-House Industrial Co., Ltd. Class A
     32,200   60,108
Chengdu Hongqi Chain Co., Ltd. Class A
     75,197   57,333
Chengdu Kanghong Pharmaceutical Group Co., Ltd. Class A
     11,200   28,476
Chengtun Mining Group Co., Ltd. Class A
     60,400   81,445
Chengxin Lithium Group Co., Ltd. Class A (a)
     9,000   72,064
Chifeng Jilong Gold Mining Co., Ltd. Class A (a)
     86,600   247,327
China Aerospace International Holdings, Ltd.
     212,000   14,077
China Animal Healthcare, Ltd. (a)(d)
     305,700   —
China Aoyuan Group, Ltd. (b)
     145,000   21,848
China Baoan Group Co., Ltd. Class A
     70,100   123,568
China Cinda Asset Management Co., Ltd. Class H
     998,600   170,866
China CITIC Bank Corp., Ltd. Class H
     1,204,341   610,521
China Coal Energy Co., Ltd. Class H
     108,000   81,227
China Common Rich Renewable Energy Investment, Ltd. (b)(d)
     5,962,000   —
China Communications Services Corp., Ltd. Class H
     118,000   53,490
China Conch Environment Protection Holdings, Ltd. (a)
     131,083   164,034
China Conch Venture Holdings, Ltd.
     131,083   383,303
China Construction Bank Corp. Class H
     8,462,647   6,364,761
China Dongxiang Group Co., Ltd.
     419,000   26,751
China Eastern Airlines Corp., Ltd. Class H (a)(b)
     166,000   55,959
China Education Group Holdings, Ltd.
     49,000   42,797
China Everbright Bank Co., Ltd. Class A
     242,430   126,025
China Everbright Environment Group, Ltd.
     362,000   219,103
China Everbright, Ltd.
     108,000   107,015
China Evergrande Group (b)
     298,000   62,786
China Fangda Group Co., Ltd. Class B (a)
     77,650   21,318
China Feihe, Ltd. (c)
     152,000   150,614
 
See accompanying notes to financial statements.
90

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
China Galaxy Securities Co., Ltd. Class A
     30,000   $ 47,022
China Galaxy Securities Co., Ltd. Class H
     311,600   174,672
China Gas Holdings, Ltd.
     232,800   298,454
China Great Wall Securities Co., Ltd. Class A
     21,700   32,543
China Harmony Auto Holding, Ltd.
     55,000   28,022
China International Capital Corp., Ltd. Class H (c)
     74,000   165,171
China International Marine Containers Group Co., Ltd. Class H (b)
     89,500   146,511
China Jinmao Holdings Group, Ltd. (a)
     414,000   123,173
China Kings Resources Group Co., Ltd. Class A
     19,720   91,609
China Lesso Group Holdings, Ltd.
     120,000   145,874
China Life Insurance Co., Ltd. Class H
     841,261   1,293,355
China Lilang, Ltd.
     71,000   34,451
China Literature, Ltd. (a)(b)(c)
     9,200   38,356
China Longyuan Power Group Corp., Ltd. Class H
     429,637   978,717
China Medical System Holdings, Ltd.
     145,000   228,478
China Meheco Co., Ltd. Class A
     25,500   146,056
China Meidong Auto Holdings, Ltd.
     14,000   53,630
China Mengniu Dairy Co., Ltd. (a)
     312,041   1,681,453
China Merchants Bank Co., Ltd. Class A
     142,245   1,048,671
China Merchants Bank Co., Ltd. Class H
     336,946   2,648,189
China Merchants Port Holdings Co., Ltd.
     356,552   646,505
China Merchants Securities Co., Ltd. Class A
     37,966   86,541
China Merchants Shekou Industrial Zone Holdings Co., Ltd. Class A
     37,000   88,360
China Minmetals Rare Earth Co., Ltd. Class A
     3,500   16,061
China Minsheng Banking Corp., Ltd. Class H (b)
     949,720   357,749
China Molybdenum Co., Ltd. Class H
     357,000   186,446
China National Accord Medicines Corp., Ltd. Class B
     15,300   34,717
China National Building Material Co., Ltd. Class H
     360,000   447,736
China National Medicines Corp., Ltd. Class A
     15,400   71,152
China Northern Rare Earth Group High-Tech Co., Ltd. Class A
     19,500   118,970
Security Description     Shares   Value
China Oilfield Services, Ltd. Class H
     132,557   $ 135,919
China Overseas Land & Investment, Ltd.
     409,669   1,226,695
China Overseas Property Holdings, Ltd.
     222,361   264,628
China Pacific Insurance Group Co., Ltd. Class A
     17,500   63,184
China Pacific Insurance Group Co., Ltd. Class H
     256,397   625,981
China Petroleum & Chemical Corp. Class H
     2,483,421   1,246,245
China Power International Development, Ltd.
     239,000   127,261
China Railway Group, Ltd. Class H
     553,000   309,992
China Resources Beer Holdings Co., Ltd.
     165,590   1,015,987
China Resources Cement Holdings, Ltd. (b)
     46,000   38,356
China Resources Gas Group, Ltd.
     78,000   331,167
China Resources Land, Ltd.
     300,232   1,399,299
China Resources Medical Holdings Co., Ltd.
     57,500   34,509
China Resources Power Holdings Co., Ltd.
     279,695   526,433
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. Class A
     10,900   77,885
China Science Publishing & Media, Ltd. Class A
     30,800   42,939
China Shenhua Energy Co., Ltd. Class H
     396,523   1,270,875
China Silver Group, Ltd. (a)
     46,000   3,466
China South City Holdings, Ltd.
     332,000   29,251
China Southern Airlines Co., Ltd. Class H (a)(b)
     218,000   126,935
China State Construction Engineering Corp., Ltd. Class A
     169,300   145,082
China Taiping Insurance Holdings Co., Ltd.
     109,141   133,649
China Testing & Certification International Group Co., Ltd. Class A
     48,652   110,132
China Tourism Group Duty Free Corp., Ltd. Class A
     12,300   318,481
China Tower Corp., Ltd. Class H (c)
     3,376,000   379,355
China TransInfo Technology Co., Ltd. Class A
     27,900   47,027
China Travel International Investment Hong Kong, Ltd. (a)(b)
     214,000   40,716
China Vanke Co., Ltd. Class A
     56,600   170,742
China Vanke Co., Ltd. Class H
     124,600   282,249
 
See accompanying notes to financial statements.
91

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
China Yangtze Power Co., Ltd. Class A
     146,200   $ 506,671
China Yongda Automobiles Services Holdings, Ltd.
     87,500   95,305
China Zhenhua Group Science & Technology Co., Ltd. Class A
     18,200   325,118
Chinasoft International, Ltd. (a)
     172,000   142,539
Chlitina Holding, Ltd.
     25,000   177,129
Chongqing Brewery Co., Ltd. Class A (a)
     9,000   152,025
Chongqing Changan Automobile Co., Ltd. Class A
     24,380   43,513
Chongqing Changan Automobile Co., Ltd. Class B
     124,820   48,453
Chongqing Dima Industry Co., Ltd. Class A
     108,400   48,154
Chongqing Fuling Electric Power Industrial Co., Ltd. Class A
     32,952   73,710
Chongqing Gas Group Corp., Ltd. Class A
     44,600   50,164
Chongqing Rural Commercial Bank Co., Ltd. Class H
     178,000   70,005
Chongqing Zaisheng Technology Corp., Ltd. Class A
     4,100   5,948
Chongqing Zhifei Biological Products Co., Ltd. Class A
     9,900   215,214
Chongqing Zongshen Power Machinery Co., Ltd. Class A
     54,200   50,545
Chow Tai Seng Jewellery Co., Ltd. Class A
     24,132   51,472
CIFI Ever Sunshine Services Group, Ltd. (b)
     20,000   27,070
CIFI Holdings Group Co., Ltd.
     331,747   195,285
CITIC Resources Holdings, Ltd. (a)
     2,000   135
CITIC Securities Co., Ltd. Class A
     49,175   161,900
CITIC Securities Co., Ltd. Class H
     219,850   507,558
CITIC Telecom International Holdings, Ltd.
     177,000   65,092
CITIC, Ltd.
     522,000   580,563
Cloopen Group Holding, Ltd. ADR (a)(b)
     35,735   61,464
CMST Development Co., Ltd. Class A
     92,300   77,788
CNNC Hua Yuan Titanium Dioxide Co., Ltd. Class A
     77,900   120,137
Cogobuy Group (a)(b)(c)
     3,000   766
Colour Life Services Group Co., Ltd. (b)
     65,000   5,146
Consun Pharmaceutical Group, Ltd.
     152,400   74,338
Contemporary Amperex Technology Co., Ltd. Class A
     12,112   977,454
COSCO SHIPPING Development Co., Ltd. Class H
     1,088,339   220,964
Security Description     Shares   Value
COSCO SHIPPING Energy Transportation Co., Ltd. Class H (b)
     215,215   $ 99,756
COSCO SHIPPING Holdings Co., Ltd. Class A (a)
     190,300   464,651
COSCO SHIPPING Holdings Co., Ltd. Class H (a)
     132,950   231,899
COSCO SHIPPING Ports, Ltd.
     42,351   32,988
Country Garden Holdings Co., Ltd. (b)
     698,825   538,079
Country Garden Services Holdings Co., Ltd.
     76,865   329,783
CQ Pharmaceutical Holding Co., Ltd. Class A
     68,100   64,258
CSC Financial Co., Ltd. Class A
     15,300   56,109
CSG Holding Co., Ltd. Class B
     153,350   57,178
CSG Smart Science&Technology Co., Ltd. Class A (a)
     35,200   45,524
CSPC Pharmaceutical Group, Ltd.
     730,320   843,961
CStone Pharmaceuticals (a)(b)(c)
     53,500   34,431
CTS International Logistics Corp., Ltd. Class A
     57,680   106,308
Daan Gene Co., Ltd. Class A
     52,560   154,415
Dada Nexus, Ltd. ADR (a)
     1,010   9,221
Dalian Huarui Heavy Industry Group Co., Ltd. Class A
     95,000   58,214
Daqo New Energy Corp. ADR (a)
     5,501   227,301
Datang International Power Generation Co., Ltd. Class H
     302,000   43,576
Dazhong Transportation Group Co., Ltd. Class B (a)
     76,650   21,462
Dazzle Fashion Co., Ltd. Class A
     18,384   47,205
Deppon Logistics Co., Ltd. Class A
     26,600   67,588
DHC Software Co., Ltd. Class A
     78,300   87,574
DiDi Global, Inc. ADR (a)
     10,360   25,900
Digital China Group Co., Ltd. Class A
     28,500   64,694
Digital China Information Service Co., Ltd. Class A
     32,900   64,990
Do-Fluoride New Materials Co., Ltd. Class A
     8,100   50,209
Dongfang Electric Corp., Ltd. Class H
     8,600   9,631
Dongfeng Motor Group Co., Ltd. Class H
     392,468   295,175
Dongyue Group, Ltd.
     106,000   145,910
Double Medical Technology, Inc. Class A
     10,900   73,112
East Group Co., Ltd. Class A
     27,900   34,281
East Money Information Co., Ltd. Class A
     9,320   37,203
Ebang International Holdings, Inc. Class A (a)
     23,387   27,129
Ecovacs Robotics Co., Ltd. Class A
     13,200   225,943
 
See accompanying notes to financial statements.
92

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Eve Energy Co., Ltd. Class A
     8,400   $ 106,745
Everbright Securities Co., Ltd. Class A
     28,300   55,547
Evergrande Property Services Group, Ltd. (a)(b)(c)
     191,000   56,095
Fanhua, Inc. ADR (b)
     8,495   61,844
Far East Horizon, Ltd. (b)
     251,000   224,353
FAW Jiefang Group Co., Ltd.
     37,500   51,039
FIH Mobile, Ltd. (a)
     191,000   26,340
First Tractor Co., Ltd. Class H (b)
     44,000   22,867
Flat Glass Group Co., Ltd. Class A
     27,800   197,067
Flat Glass Group Co., Ltd. Class H (b)
     23,000   88,988
Focus Media Information Technology Co., Ltd. Class A
     88,800   85,469
Foran Energy Group Co., Ltd. Class A
     35,570   53,959
Foshan Haitian Flavouring & Food Co., Ltd. Class A
     23,608   325,107
Founder Securities Co., Ltd. Class A
     48,600   51,600
Foxconn Industrial Internet Co., Ltd. Class A
     24,700   39,493
Fufeng Group, Ltd. (a)
     95,000   37,726
Fujian Green Pine Co., Ltd. Class A
     8,300   9,937
Fujian Star-net Communication Co., Ltd. Class A
     12,600   40,411
Fujian Sunner Development Co., Ltd. Class A (a)
     13,600   42,462
Future FinTech Group, Inc. (a)(b)
     37,667   28,559
Fuyao Glass Industry Group Co., Ltd. Class A
     17,600   98,645
Ganfeng Lithium Co., Ltd. Class A
     11,600   229,603
Ganfeng Lithium Co., Ltd. Class H (c)
     14,800   211,661
Gaotu Techedu, Inc. ADR (a)
     44,527   76,586
GCI Science & Technology Co., Ltd. Class A
     27,796   94,228
GCL System Integration Technology Co., Ltd. Class A (a)
     70,400   39,813
GDS Holdings, Ltd. ADR (a)
     5,440   213,520
Geely Automobile Holdings, Ltd.
     474,709   749,215
Genetron Holdings, Ltd. ADR (a)
     8,782   19,233
Genimous Technology Co., Ltd. Class A (a)
     43,000   47,077
Genscript Biotech Corp. (a)
     102,000   326,915
Getein Biotech, Inc. Class A
     22,020   71,005
GF Securities Co., Ltd. Class H
     96,000   136,313
Giant Network Group Co., Ltd. Class A
     21,500   34,139
Gigadevice Semiconductor Beijing, Inc. Class A
     5,628   125,032
GoerTek, Inc. Class A
     26,900   145,770
Security Description     Shares   Value
Goke Microelectronics Co., Ltd. Class A
     9,000   $ 123,557
Golden Solar New Energy Technology Holdings, Ltd. (a)(b)
     64,000   59,821
GoldenHome Living Co., Ltd. Class A
     17,248   87,869
Goldenmax International Technology, Ltd. Class A
     33,900   56,766
GOME Retail Holdings, Ltd. (a)(b)
     1,370,322   85,739
Goodbaby International Holdings, Ltd. (a)
     203,000   26,440
Grandblue Environment Co., Ltd. Class A
     18,828   55,374
Great Wall Motor Co., Ltd. Class H
     308,992   495,561
Greattown Holdings, Ltd. Class A
     47,200   31,526
Gree Real Estate Co., Ltd. Class A (a)
     64,600   67,062
Greentown China Holdings, Ltd.
     91,500   167,311
Grinm Advanced Materials Co., Ltd. Class A
     28,700   71,161
Guangdong Create Century Intelligent Equipment Group Corp Ltd Class A (a)
     140,300   251,953
Guangdong Haid Group Co., Ltd. Class A
     9,700   83,888
Guangdong Hongda Holdings Group Co., Ltd. Class A
     21,000   84,224
Guangdong Huatie Tongda High-speed Railway Equipment Corp. Class A
     61,500   45,436
Guangdong Investment, Ltd.
     308,000   421,605
Guangdong Kinlong Hardware Products Co., Ltd. Class A
     1,400   23,657
Guangdong Xinbao Electrical Appliances Holdings Co., Ltd. Class A
     36,300   95,380
Guangshen Railway Co., Ltd. Class H (a)
     44,500   7,557
Guangzhou Automobile Group Co., Ltd. Class H
     318,844   266,267
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H
     58,000   153,676
Guangzhou Great Power Energy & Technology Co., Ltd. Class A
     6,400   47,667
Guangzhou Haige Communications Group, Inc. Co. Class A
     33,000   53,180
Guangzhou Kingmed Diagnostics Group Co., Ltd. Class A
     8,792   101,727
Guangzhou R&F Properties Co., Ltd. Class H (b)
     203,376   72,195
Guangzhou Restaurant Group Co., Ltd. Class A
     15,200   49,900
 
See accompanying notes to financial statements.
93

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Guangzhou Tinci Materials Technology Co., Ltd. Class A
     6,110   $ 90,474
Guizhou Panjiang Refined Coal Co., Ltd. Class A
     106,384   144,290
Guocheng Mining Co., Ltd. Class A
     41,900   107,587
Guolian Securities Co., Ltd. Class A
     1,500   3,119
Guomai Technologies, Inc. Class A
     50,200   54,485
Guosen Securities Co., Ltd. Class A
     36,400   56,996
Guosheng Financial Holding, Inc. Class A (a)
     1,900   2,721
Guotai Junan Securities Co., Ltd. Class A
     33,000   81,667
Guoxuan High-Tech Co., Ltd. Class A (a)
     2,200   11,925
Haidilao International Holding, Ltd. (a)(b)(c)
     65,000   127,487
Haier Smart Home Co., Ltd. Class A
     32,400   117,900
Haier Smart Home Co., Ltd. Class H
     178,698   580,722
Hainan Strait Shipping Co., Ltd. Class A
     94,975   79,893
Haisco Pharmaceutical Group Co., Ltd. Class A
     17,400   43,719
Haitian International Holdings, Ltd.
     65,000   168,903
Haitong Securities Co., Ltd. Class A
     25,400   41,212
Haitong Securities Co., Ltd. Class H
     298,800   228,161
Hang Zhou Great Star Industrial Co., Ltd. Class A (a)
     45,800   118,755
Hangcha Group Co., Ltd. Class A
     40,660   85,636
Hangjin Technology Co., Ltd. Class A
     4,900   29,687
Hangzhou Chang Chuan Technology Co., Ltd. Class A
     12,800   73,819
Hangzhou Oxygen Plant Group Co., Ltd. Class A
     23,900   107,977
Hangzhou Robam Appliances Co., Ltd. Class A
     13,800   63,456
Hangzhou Silan Microelectronics Co., Ltd. Class A
     18,900   144,398
Hangzhou Tigermed Consulting Co., Ltd. Class A
     4,500   76,275
Han's Laser Technology Industry Group Co., Ltd. Class A
     10,000   60,428
Hansoh Pharmaceutical Group Co., Ltd. (c)
     40,000   67,012
Harbin Boshi Automation Co., Ltd. Class A
     35,789   57,561
Health & Happiness H&H International Holdings, Ltd.
     21,500   30,254
Security Description     Shares   Value
Hebei Hengshui Laobaigan Liquor Co., Ltd. Class A
     3,400   $ 10,765
Hefei Meiya Optoelectronic Technology, Inc. Class A
     10,900   45,965
Hello Group, Inc. ADR
     13,574   78,458
Henan Lingrui Pharmaceutical Co. Class A
     38,500   80,237
Henan Shuanghui Investment & Development Co., Ltd. Class A
     19,500   89,266
Henan Yicheng New Energy Co., Ltd. Class A (a)
     27,900   19,646
Henan Yuguang Gold & Lead Co., Ltd. Class A
     33,000   28,227
Hengan International Group Co., Ltd.
     76,500   353,615
Hengdian Group DMEGC Magnetics Co., Ltd. Class A
     45,500   96,976
Hengli Petrochemical Co., Ltd. Class A
     28,000   91,700
Hexing Electrical Co., Ltd. Class A
     20,900   38,652
Hisense Home Appliances Group Co., Ltd. Class A
     40,800   71,470
Hua Hong Semiconductor, Ltd. (a)(c)
     41,000   174,337
Huabao Flavours & Fragrances Co., Ltd. Class A
     1,700   7,198
Huadian Power International Corp., Ltd. Class H (b)
     180,000   55,392
Huadong Medicine Co., Ltd. Class A
     17,300   91,077
Huafon Chemical Co., Ltd. Class A
     62,900   90,266
Hualan Biological Engineering, Inc. Class A
     20,344   65,088
Huaneng Power International, Inc. Class H (a)(b)
     548,472   234,617
Huangshan Tourism Development Co., Ltd. Class B (a)
     54,700   40,423
Huatai Securities Co., Ltd. Class A
     59,000   138,296
Huatai Securities Co., Ltd. Class H (c)
     63,400   97,633
Huayu Automotive Systems Co., Ltd. Class A
     17,600   55,311
Huazhu Group, Ltd. ADR
     14,707   485,184
Hubei Biocause Pharmaceutical Co., Ltd. Class A
     53,300   26,616
Hubei Dinglong Co., Ltd. Class A
     6,400   20,093
Huizhou Desay Sv Automotive Co., Ltd. Class A
     12,700   253,316
Hunan Aihua Group Co., Ltd. Class A
     15,400   65,888
Hundsun Technologies, Inc. Class A
     15,676   109,790
 
See accompanying notes to financial statements.
94

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Huolinhe Opencut Coal Industry Corp., Ltd. of Inner Mongolia Class A
     55,700   $ 152,146
HUYA, Inc. ADR (a)
     4,965   22,194
Hytera Communications Corp., Ltd. Class A
     34,700   29,244
HyUnion Holding Co., Ltd. Class A (a)
     21,400   42,240
Iflytek Co., Ltd. Class A
     13,700   100,504
IKD Co., Ltd. Class A
     29,300   54,325
I-Mab ADR (a)
     1,460   23,710
Industrial & Commercial Bank of China, Ltd. Class H
     6,129,028   3,764,413
Industrial Bank Co., Ltd. Class A
     120,400   392,034
INESA Intelligent Tech, Inc. Class B
     477,200   253,870
Inner Mongolia Junzheng Energy & Chemical Industry Group Co., Ltd. Class A
     165,200   119,448
Inner Mongolia Yili Industrial Group Co., Ltd. Class A
     24,900   144,699
Inner Mongolia Yitai Coal Co., Ltd. Class B
     192,381   208,926
Inner Mongolia Yuan Xing Energy Co., Ltd. Class A (a)
     47,600   73,408
InnoCare Pharma, Ltd. (a)(b)(c)
     37,000   57,734
Innovent Biologics, Inc. (a)(c)
     76,500   263,258
Intco Medical Technology Co., Ltd. Class A
     5,350   38,970
iQIYI, Inc. ADR (a)(b)
     21,278   96,602
IReader Technology Co., Ltd. Class A
     20,500   56,029
JA Solar Technology Co., Ltd. Class A
     12,500   154,928
Jason Furniture Hangzhou Co., Ltd. Class A
     9,300   89,819
JD Health International, Inc. (a)(b)(c)
     40,100   246,292
JD.com, Inc. ADR (a)
     84,801   4,907,434
JD.com, Inc. Class A (a)
     25,176   752,252
Jiajiayue Group Co., Ltd. Class A
     19,100   38,512
Jiangsu Akcome Science & Technology Co., Ltd. Class A (a)
     295,000   165,900
Jiangsu Eastern Shenghong Co., Ltd. Class A
     18,800   42,054
Jiangsu Expressway Co., Ltd. Class H
     324,299   339,563
Jiangsu Guotai International Group Co., Ltd. Class A
     123,100   189,650
Jiangsu Hengli Hydraulic Co., Ltd. Class A
     13,282   108,903
Jiangsu Hengrui Medicine Co., Ltd. Class A
     43,456   252,052
Jiangsu Hoperun Software Co., Ltd. Class A (a)
     18,700   58,503
Jiangsu King's Luck Brewery JSC, Ltd. Class A
     10,900   72,288
Security Description     Shares   Value
Jiangsu Leike Defense Technology Co., Ltd. Class A (a)
     59,600   $ 52,389
Jiangsu Shagang Co., Ltd. Class A
     98,800   88,091
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. Class A
     8,800   188,016
Jiangsu Yangnong Chemical Co., Ltd. Class A
     8,800   167,375
Jiangsu Yoke Technology Co., Ltd. Class A
     32,100   259,102
Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Class A
     17,697   77,583
Jiangsu Zhongnan Construction Group Co., Ltd. Class A
     46,800   32,291
Jiangxi Copper Co., Ltd. Class H
     239,578   401,979
Jiangxi Lianchuang Optoelectronic Science & Technology Co., Ltd. Class A
     25,100   100,865
Jiangxi Zhengbang Technology Co., Ltd. Class A
     21,800   26,477
Jiayou International Logistics Co., Ltd. Class A
     26,923   77,740
Jinke Properties Group Co., Ltd. Class A
     83,100   64,274
JinkoSolar Holding Co., Ltd. ADR (a)(b)
     3,262   157,522
Jinneng Science&Technology Co., Ltd. Class A
     28,300   55,413
JiuGui Liquor Co., Ltd. Class A
     400   9,319
Jizhong Energy Resources Co., Ltd. Class A
     156,800   174,137
JL Mag Rare-Earth Co., Ltd. Class A
     3,500   17,632
Joincare Pharmaceutical Group Industry Co., Ltd. Class A
     34,000   65,557
Joinn Laboratories China Co., Ltd. Class A
     17,188   311,616
Jointown Pharmaceutical Group Co., Ltd. Class A
     25,200   52,717
Joy City Property, Ltd.
     92,000   3,759
Joyoung Co., Ltd. Class A
     24,200   62,253
JOYY, Inc. ADR
     3,605   132,412
Juewei Food Co., Ltd. Class A
     8,800   58,402
JW Cayman Therapeutics Co., Ltd. (a)(b)(c)
     32,500   33,698
Kama Co., Ltd. Class B (a)
     208,849   65,787
Kandi Technologies Group, Inc. (a)
     5,055   16,176
KE Holdings, Inc. ADR (a)
     20,898   258,508
Keshun Waterproof Technologies Co., Ltd. Class A
     6,620   12,097
Kingboard Holdings, Ltd.
     91,200   443,691
KingClean Electric Co., Ltd. Class A
     21,940   72,337
Kingdee International Software Group Co., Ltd. (a)
     204,000   453,773
 
See accompanying notes to financial statements.
95

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Kingsoft Cloud Holdings, Ltd. ADR (a)(b)
     504   $ 3,059
Kingsoft Corp., Ltd.
     90,000   291,902
Kintor Pharmaceutical, Ltd. (a)(c)
     29,000   36,105
Konka Group Co., Ltd. Class B
     328,200   87,588
Koolearn Technology Holding, Ltd. (a)(b)(c)
     152,000   77,054
Kuaishou Technology (a)(c)
     74,694   707,702
Kuang-Chi Technologies Co., Ltd. Class A (a)
     36,300   98,182
Kunlun Energy Co., Ltd.
     372,000   324,432
Kunshan Kersen Science & Technology Co., Ltd. Class A (a)
     41,500   57,268
Kweichow Moutai Co., Ltd. Class A
     7,971   2,158,465
KWG Group Holdings, Ltd. (a)(b)
     152,451   63,072
KWG Living Group Holdings, Ltd.
     70,225   26,184
Launch Tech Co., Ltd. Class H (a)
     20,600   6,655
LB Group Co., Ltd. Class A
     4,800   17,489
Lee & Man Paper Manufacturing, Ltd.
     195,000   101,840
Lenovo Group, Ltd. (b)
     653,703   711,182
Lens Technology Co., Ltd. Class A
     8,300   15,258
LexinFintech Holdings, Ltd. ADR (a)
     6,636   17,386
Li Auto, Inc. ADR (a)
     11,228   289,795
Li Ning Co., Ltd.
     204,757   1,767,446
Lier Chemical Co., Ltd. Class A
     4,900   22,122
Lifetech Scientific Corp. (a)(b)
     218,000   72,932
Lingyi iTech Guangdong Co. Class A (a)
     42,600   34,090
Livzon Pharmaceutical Group, Inc. Class H
     36,097   129,751
Lizhong Sitong Light Alloys Group Co., Ltd. Class A
     5,900   20,958
Longfor Group Holdings, Ltd. (c)
     116,000   596,930
LONGi Green Energy Technology Co., Ltd. Class A
     45,780   520,606
Lu Thai Textile Co., Ltd. Class B
     54,900   26,639
Luenmei Quantum Co., Ltd. Class A
     33,500   37,732
Lufax Holding, Ltd. ADR (a)
     11,237   62,590
Luokung Technology Corp. (a)
     70,767   36,353
Luoyang Glass Co., Ltd. Class H (a)(b)
     54,000   80,813
Lushang Health Industry Development Co., Ltd. Class A
     300   519
Luxshare Precision Industry Co., Ltd. Class A
     55,108   275,188
Luye Pharma Group, Ltd. (a)(b)(c)
     180,500   69,145
Luzhou Laojiao Co., Ltd. Class A
     10,100   295,740
Security Description     Shares   Value
Maanshan Iron & Steel Co., Ltd. Class A
     213,400   $ 133,121
Mango Excellent Media Co., Ltd. Class A
     1,400   6,872
Markor International Home Furnishings Co., Ltd. Class A (a)
     86,900   45,995
Maxscend Microelectronics Co., Ltd. Class A
     1,620   53,570
Mayinglong Pharmaceutical Group Co., Ltd. Class A
     18,600   66,863
Meinian Onehealth Healthcare Holdings Co., Ltd. Class A (a)
     44,200   41,010
Meituan Class B (a)(c)
     350,938   6,972,694
Metallurgical Corp. of China, Ltd. Class H (b)
     385,000   104,221
Microport Scientific Corp. (a)(b)
     65,563   148,851
Milkyway Chemical Supply Chain Service Co., Ltd. Class A
     9,500   184,131
Ming Yuan Cloud Group Holdings, Ltd. (b)
     44,000   60,566
Minth Group, Ltd.
     70,000   172,689
MLS Co., Ltd. Class A
     29,300   53,356
Montnets Cloud Technology Group Co., Ltd. Class A (a)
     19,800   38,614
Muyuan Foods Co., Ltd. Class A
     35,714   319,891
NanJi E-Commerce Co., Ltd. Class A
     36,600   31,364
Nanjing Hanrui Cobalt Co., Ltd. Class A
     1,000   9,978
Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd. Class A
     15,544   76,837
NARI Technology Co., Ltd. Class A
     38,100   188,997
National Agricultural Holdings, Ltd. (a)(b)(d)
     112,000   —
NAURA Technology Group Co., Ltd. Class A
     700   30,214
NavInfo Co., Ltd. Class A (a)
     25,700   56,557
NetDragon Websoft Holdings, Ltd.
     51,500   107,848
NetEase, Inc. ADR
     37,508   3,364,093
New China Life Insurance Co., Ltd. Class A
     9,600   53,428
New China Life Insurance Co., Ltd. Class H
     70,600   197,428
New Hope Liuhe Co., Ltd. Class A (a)
     30,800   82,384
New Oriental Education & Technology Group, Inc. ADR (a)
     138,876   159,707
Newborn Town, Inc. (a)
     142,000   62,737
Newland Digital Technology Co., Ltd. Class A
     20,399   54,114
Ningbo Huaxiang Electronic Co., Ltd. Class A
     22,500   57,596
 
See accompanying notes to financial statements.
96

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Ningbo Jifeng Auto Parts Co., Ltd. Class A
     39,100   $ 56,235
Ningbo Orient Wires & Cables Co., Ltd. Class A
     2,700   21,925
Ningbo Sanxing Medical Electric Co., Ltd. Class A
     39,800   68,715
Ningbo Tuopu Group Co., Ltd. Class A
     27,400   245,163
Ningbo Xusheng Auto Technology Co., Ltd. Class A
     11,400   55,850
NIO, Inc. ADR (a)
     116,040   2,442,642
Niu Technologies ADR (a)
     3,433   33,163
Noah Holdings, Ltd. ADR (a)
     2,550   60,001
Nongfu Spring Co., Ltd. Class H (b)(c)
     55,000   293,211
Offcn Education Technology Co., Ltd. Class A (a)
     25,100   22,182
Offshore Oil Engineering Co., Ltd. Class A
     26,700   18,002
Oppein Home Group, Inc. Class A
     12,180   224,486
Orient Securities Co., Ltd. Class A
     32,700   56,560
PCI-Suntek Technology Co., Ltd. Class A
     48,290   56,672
People's Insurance Co. Group of China, Ltd. Class A
     23,400   16,883
People's Insurance Co. Group of China, Ltd. Class H
     497,000   163,099
Perfect World Co., Ltd. Class A
     18,200   36,870
PetroChina Co., Ltd. Class H
     937,208   485,873
Pharmaron Beijing Co., Ltd. Class A
     6,400   118,965
PhiChem Corp. Class A
     10,500   48,728
PICC Property & Casualty Co., Ltd. Class H
     750,433   768,505
Pinduoduo, Inc. ADR (a)
     32,894   1,319,378
Ping An Bank Co., Ltd. Class A
     136,800   331,435
Ping An Healthcare & Technology Co., Ltd. (a)(b)(c)
     32,600   85,752
Ping An Insurance Group Co. of China, Ltd. Class A
     42,300   322,842
Ping An Insurance Group Co. of China, Ltd. Class H
     480,682   3,415,731
Pingdingshan Tianan Coal Mining Co., Ltd. Class A
     111,200   299,892
Poly Developments & Holdings Group Co., Ltd. Class A
     56,600   157,814
Poly Property Group Co., Ltd.
     246,000   62,196
Pop Mart International Group, Ltd. (b)(c)
     22,800   100,151
Postal Savings Bank of China Co., Ltd. Class H (b)(c)
     384,000   311,362
Qianhe Condiment & Food Co., Ltd. Class A
     25,340   69,736
Qingdao East Steel Tower Stock Co., Ltd. Class A
     50,200   90,071
Qudian, Inc. ADR (a)(b)
     12,237   14,440
Security Description     Shares   Value
Qutoutiao, Inc. ADR (a)(b)
     8,219   $ 12,411
Rainbow Digital Commercial Co., Ltd. Class A
     31,200   29,882
Red Avenue New Materials Group Co., Ltd. Class A
     2,100   11,919
RLX Technology, Inc. ADR (a)(b)
     56,872   101,801
Roshow Technology Co., Ltd. Class A (a)
     24,100   42,254
SAIC Motor Corp., Ltd. Class A
     34,700   92,925
Sailun Group Co., Ltd. Class A
     76,800   119,287
Sany Heavy Industry Co., Ltd. Class A
     46,300   127,782
Satellite Chemical Co., Ltd. Class A
     32,240   200,100
SDIC Capital Co., Ltd. Class A
     46,172   51,277
Seazen Group, Ltd. (a)
     144,952   78,108
Seazen Holdings Co., Ltd. Class A
     15,000   76,015
SF Holding Co., Ltd. Class A
     15,300   110,145
Shaanxi Coal Industry Co., Ltd. Class A
     66,900   173,360
Shandong Airlines Co., Ltd. Class B (a)
     77,200   30,953
Shandong Chenming Paper Holdings, Ltd. Class H (b)
     56,350   22,378
Shandong Dawn Polymer Co., Ltd. Class A
     6,100   16,509
Shandong Denghai Seeds Co., Ltd. Class A
     3,600   13,537
Shandong Gold Mining Co., Ltd. Class A
     37,460   126,871
Shandong Himile Mechanical Science & Technology Co., Ltd. Class A
     16,900   51,461
Shandong Linglong Tyre Co., Ltd. Class A
     16,000   55,626
Shandong Molong Petroleum Machinery Co., Ltd. Class A (a)
     126,100   86,807
Shandong Weigao Group Medical Polymer Co., Ltd. Class H
     200,800   215,123
Shandong Xinhua Pharmaceutical Co., Ltd. Class A
     57,400   88,974
Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. Class A (a)
     24,160   34,557
Shang Gong Group Co., Ltd. Class B (a)
     167,500   63,147
Shanghai AtHub Co., Ltd. Class A
     24,220   137,199
Shanghai Bairun Investment Holding Group Co., Ltd. Class A
     23,240   131,904
Shanghai Baosight Software Co., Ltd. Class A
     11,010   84,551
Shanghai Baosight Software Co., Ltd. Class B
     58,808   239,349
 
See accompanying notes to financial statements.
97

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Shanghai Belling Co., Ltd. Class A
     19,600   $ 60,238
Shanghai Chlor-Alkali Chemical Co., Ltd. Class B
     119,200   77,838
Shanghai Daimay Automotive Interior Co., Ltd. Class A
     24,037   54,298
Shanghai Electric Group Co., Ltd. Class H
     398,418   104,801
Shanghai Fengyuzhu Culture & Technology Co., Ltd. Class A
     28,345   101,403
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class A
     11,800   99,131
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H (b)
     32,000   156,498
Shanghai Fudan Microelectronics Group Co., Ltd. Class H (a)(b)
     36,000   108,027
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H (b)
     167,000   79,540
Shanghai Haixin Group Co. Class B
     198,613   64,152
Shanghai Haohai Biological Technology Co., Ltd. Class H (c)
     10,100   51,071
Shanghai Henlius Biotech, Inc. Class H (a)(b)(c)
     1,400   3,718
Shanghai Highly Group Co., Ltd. Class B
     136,100   68,458
Shanghai Industrial Holdings, Ltd.
     42,000   63,069
Shanghai Industrial Urban Development Group, Ltd.
     43,000   3,898
Shanghai International Airport Co., Ltd. Class A (a)
     14,700   113,930
Shanghai International Port Group Co., Ltd. Class A
     111,800   96,335
Shanghai Jin Jiang Online Network Service Co., Ltd. Class B
     119,796   70,799
Shanghai Jinjiang International Travel Co., Ltd. Class B
     53,974   79,126
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class A
     25,900   60,791
Shanghai Kehua Bio-Engineering Co., Ltd. Class A
     101,800   241,827
Shanghai Lingyun Industries Development Co., Ltd. Class B (a)
     285,600   163,363
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B
     173,064   161,988
Shanghai M&G Stationery, Inc. Class A
     8,996   69,269
Shanghai Mechanical and Electrical Industry Co., Ltd. Class B
     52,084   64,324
Shanghai New Power Automotive Technology Co., Ltd. Class B
     200,600   110,531
Security Description     Shares   Value
Shanghai Pharmaceuticals Holding Co., Ltd. Class A
     18,600   $ 71,815
Shanghai Pharmaceuticals Holding Co., Ltd. Class H
     61,500   118,580
Shanghai Pudong Development Bank Co., Ltd. Class A
     83,600   105,354
Shanghai Putailai New Energy Technology Co., Ltd. Class A
     12,040   266,552
Shanghai RAAS Blood Products Co., Ltd. Class A
     45,800   43,216
Shanghai Runda Medical Technology Co., Ltd. Class A
     31,400   60,494
Shanghai Wanye Enterprises Co., Ltd. Class A
     32,600   109,897
Shanghai Weaver Network Co., Ltd. Class A
     14,884   125,110
Shanghai Yaoji Technology Co., Ltd. Class A
     6,300   18,717
Shanghai Zhangjiang High-Tech Park Development Co., Ltd. Class A
     20,800   44,889
Shanghai Zhenhua Heavy Industries Co., Ltd. Class B (a)
     147,200   36,653
Shanxi Blue Flame Holding Co., Ltd. Class A
     44,000   53,786
Shanxi Coking Coal Energy Group Co., Ltd. Class A
     75,370   147,461
Shanxi Lu'an Environmental Energy Development Co., Ltd. Class A
     42,500   111,136
Shanxi Meijin Energy Co., Ltd. Class A (a)
     39,100   78,901
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A
     12,100   485,860
Shengda Resources Co., Ltd. Class A (a)
     21,700   44,917
Shengyi Technology Co., Ltd. Class A
     21,700   55,104
Shenyang Xingqi Pharmaceutical Co., Ltd. Class A
     300   4,263
Shenzhen Agricultural Products Group Co., Ltd. Class A
     76,400   74,497
Shenzhen Aisidi Co., Ltd. Class A
     54,700   74,104
Shenzhen Capchem Technology Co., Ltd. Class A
     2,100   26,977
Shenzhen Das Intellitech Co., Ltd. Class A
     124,983   65,168
Shenzhen Ellassay Fashion Co., Ltd. Class A
     26,180   50,973
Shenzhen Expressway Corp., Ltd. Class H
     29,000   30,550
Shenzhen Fastprint Circuit Tech Co., Ltd. Class A
     41,200   65,031
Shenzhen Gas Corp., Ltd. Class A
     49,400   55,485
Shenzhen Gongjin Electronics Co., Ltd. Class A
     30,300   36,753
 
See accompanying notes to financial statements.
98

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Shenzhen Goodix Technology Co., Ltd. Class A
     900   $ 10,052
Shenzhen H&T Intelligent Control Co., Ltd. Class A
     24,200   67,094
Shenzhen Huaqiang Industry Co., Ltd. Class A
     22,500   44,694
Shenzhen Investment, Ltd.
     304,197   67,976
Shenzhen Kangtai Biological Products Co., Ltd. Class A
     3,400   49,944
Shenzhen Kingdom Sci-Tech Co., Ltd. Class A
     15,300   32,344
Shenzhen Kinwong Electronic Co., Ltd. Class A
     13,320   49,351
Shenzhen Megmeet Electrical Co., Ltd. Class A
     15,100   55,018
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A
     4,200   203,281
Shenzhen MTC Co., Ltd. Class A (a)
     139,800   80,382
Shenzhen Neptunus Bioengineering Co., Ltd. Class A (a)
     99,493   60,341
Shenzhen SC New Energy Technology Corp. Class A
     600   6,938
Shenzhen SDG Information Co., Ltd. Class A (a)
     28,500   25,366
Shenzhen Senior Technology Material Co., Ltd. Class A
     8,436   50,206
Shenzhen Sunlord Electronics Co., Ltd. Class A
     14,300   57,578
Shenzhen Suntak Circuit Technology Co., Ltd. Class A
     17,900   33,865
Shenzhen World Union Group, Inc. Class A
     14,800   11,237
Shenzhen Yitoa Intelligent Control Co., Ltd. Class A (a)
     15,500   13,551
Shenzhen Ysstech Info-tech Co., Ltd. Class A
     152,300   293,655
Shenzhen Zhenye Group Co., Ltd. Class A
     65,700   53,300
Shenzhou International Group Holdings, Ltd.
     48,187   644,840
Shijiazhuang Changshan BeiMing Technology Co., Ltd. Class A (a)
     57,800   60,367
Shimao Group Holdings, Ltd. (b)
     139,500   78,733
Sichuan Kelun Pharmaceutical Co., Ltd. Class A
     13,500   36,854
Sichuan New Energy Power Co., Ltd. (a)
     15,900   48,791
Sichuan Yahua Industrial Group Co., Ltd. Class A
     3,800   17,276
Sinofibers Technology Co., Ltd. Class A
     1,900   15,399
Sinoma Science & Technology Co., Ltd. Class A
     25,000   95,619
Sino-Ocean Group Holding, Ltd.
     759,711   162,004
Security Description     Shares   Value
Sinopec Oilfield Service Corp. Class A (a)
     151,500   $ 47,253
Sinopec Oilfield Service Corp. Class H (a)
     6,000   490
Sinopec Shanghai Petrochemical Co., Ltd. Class H
     554,878   115,490
Sinopharm Group Co., Ltd. Class H
     109,200   249,316
Sinotrans, Ltd. Class H
     211,000   66,010
Sinotruk Hong Kong, Ltd.
     32,000   49,033
SITC International Holdings Co., Ltd.
     174,000   616,556
Skshu Paint Co., Ltd. Class A
     17,119   239,037
Skyworth Digital Co., Ltd. Class A
     37,200   82,743
Smoore International Holdings, Ltd. (b)(c)
     117,000   280,869
Sohu.com, Ltd. ADR (a)
     4,086   68,727
SooChow Securities Co., Ltd. Class A
     48,790   57,566
SOS, Ltd. (a)
     32,662   17,526
South Manganese Investment, Ltd. (a)(b)
     486,000   62,678
State Grid Information & Communication Co., Ltd. Class A
     6,300   14,837
STO Express Co., Ltd. Class A (a)
     20,794   24,338
Sun Art Retail Group, Ltd. (b)
     209,500   76,241
Sunac China Holdings, Ltd. (b)
     222,000   129,831
Sunac Services Holdings, Ltd. (a)(b)(c)
     8,751   5,420
Sungrow Power Supply Co., Ltd. Class A
     15,000   253,446
Suning Universal Co., Ltd. Class A (a)
     88,100   61,897
Sunny Optical Technology Group Co., Ltd.
     63,629   1,024,544
Sunresin New Materials Co., Ltd. Class A
     1,700   21,185
Sunward Intelligent Equipment Co., Ltd. Class A
     75,800   87,883
Sunwoda Electronic Co., Ltd. Class A
     18,600   80,575
Suzhou Dongshan Precision Manufacturing Co., Ltd. Class A
     16,000   47,082
Suzhou Maxwell Technologies Co., Ltd. Class A
     540   44,759
Taiji Computer Corp., Ltd. Class A
     16,879   56,608
TAL Education Group ADR (a)
     38,152   114,838
TCL Electronics Holdings, Ltd.
     120,000   51,332
Tencent Holdings, Ltd.
     505,296   24,144,056
Tencent Music Entertainment Group ADR (a)
     17,225   83,886
Tianfeng Securities Co., Ltd. Class A
     50,610   27,664
 
See accompanying notes to financial statements.
99

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Tianjin Zhonghuan Semiconductor Co., Ltd. Class A
     27,900   $ 187,667
Tianjin ZhongXin Pharmaceutical Group Corp., Ltd. Class S
     34,345   36,749
Tianma Microelectronics Co., Ltd. Class A
     23,500   38,685
Tianneng Power International, Ltd. (b)
     86,000   74,015
Tianshui Huatian Technology Co., Ltd. Class A
     53,000   87,748
Tibet Summit Resources Co., Ltd. Class A (a)
     9,500   39,583
Times China Holdings, Ltd. (b)
     41,000   13,664
Tingyi Cayman Islands Holding Corp.
     282,383   475,963
Tong Ren Tang Technologies Co., Ltd. Class H
     122,000   104,219
Tongcheng Travel Holdings, Ltd. (a)
     46,800   83,663
TongFu Microelectronics Co., Ltd. Class A
     29,700   77,571
Tongwei Co., Ltd. Class A
     32,000   215,195
Topchoice Medical Corp. Class A (a)
     8,800   198,343
TravelSky Technology, Ltd. Class H
     90,000   129,862
Trip.com Group, Ltd. ADR (a)
     36,457   842,886
Tsingtao Brewery Co., Ltd. Class H
     60,000   477,309
Tuya, Inc. ADR (a)
     8,782   25,995
UE Furniture Co., Ltd. Class A
     39,297   57,199
Unigroup Guoxin Microelectronics Co., Ltd. Class A
     8,800   283,542
Uni-President China Holdings, Ltd.
     173,000   150,878
Unisplendour Corp., Ltd. Class A
     20,820   64,119
Universal Scientific Industrial Shanghai Co., Ltd. Class A
     21,700   41,430
Up Fintech Holding, Ltd. ADR (a)(b)
     15,522   76,058
Uxin, Ltd. ADR (a)(b)
     49,551   50,542
Valiant Co., Ltd. Class A
     24,700   70,387
Vatti Corp., Ltd. Class A
     34,600   29,977
Venus MedTech Hangzhou, Inc. Class H (a)(b)(c)
     4,500   9,309
Vipshop Holdings, Ltd. ADR (a)
     37,552   337,968
Visionox Technology, Inc. Class A (a)
     32,800   36,633
Visual China Group Co., Ltd. Class A
     22,800   58,184
Viva Biotech Holdings (b)(c)
     24,500   9,698
Vnet Group, Inc. ADR (a)
     9,333   54,411
Walvax Biotechnology Co., Ltd. Class A
     7,000   60,505
Wangneng Environment Co., Ltd. Class A
     21,500   62,521
Security Description     Shares   Value
Wanhua Chemical Group Co., Ltd. Class A
     16,900   $ 215,346
Want Want China Holdings, Ltd.
     917,287   848,017
Wasu Media Holding Co., Ltd. Class A
     36,500   46,573
Weibo Corp. ADR (a)
     3,908   95,785
Weichai Power Co., Ltd. Class A
     116,400   244,788
Weichai Power Co., Ltd. Class H
     48,000   75,879
Weimob, Inc. (a)(b)(c)
     189,000   124,529
West China Cement, Ltd.
     358,000   57,142
Westone Information Industry, Inc. Class A
     10,800   77,256
Will Semiconductor Co., Ltd. Shanghai Class A
     5,600   170,609
Wingtech Technology Co., Ltd. Class A
     2,500   32,017
Winning Health Technology Group Co., Ltd. Class A
     94,600   139,931
Wuhan Department Store Group Co., Ltd. Class A
     1,000   1,612
Wuhan Guide Infrared Co., Ltd. Class A
     45,210   121,427
Wuhu Sanqi Interactive Entertainment Network Technology Group Co., Ltd. Class A
     23,700   87,548
Wuliangye Yibin Co., Ltd. Class A
     26,344   643,484
WUS Printed Circuit Kunshan Co., Ltd. Class A
     23,950   49,952
WuXi AppTec Co., Ltd. Class A
     29,940   530,026
Wuxi Biologics Cayman, Inc. (a)(c)
     260,280   2,161,965
Wuxi Shangji Automation Co., Ltd. Class A
     12,730   274,930
Wuxi Taiji Industry Co., Ltd. Class A
     43,200   48,929
X Financial ADR (a)
     20,634   56,950
XD, Inc. (a)(b)
     35,600   110,463
Xiamen Comfort Science & Technology Group Co., Ltd. Class A
     22,400   33,734
Xiamen Faratronic Co., Ltd. Class A
     9,000   284,953
Xiamen Intretech, Inc. Class A
     15,360   59,305
Xiamen ITG Group Corp., Ltd. Class A
     45,200   55,111
Xiamen Jihong Technology Co., Ltd. Class A
     10,600   24,880
Xiamen Kingdomway Group Co. Class A
     21,600   102,010
Xiangpiaopiao Food Co., Ltd. Class A
     11,100   22,871
Xianhe Co., Ltd. Class A
     1,000   4,091
Xiaomi Corp. Class B (a)(c)
     966,443   1,720,282
Xilinmen Furniture Co., Ltd. Class A
     27,900   127,368
Xinhuanet Co., Ltd. Class A
     16,100   44,130
 
See accompanying notes to financial statements.
100

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Xinjiang Goldwind Science & Technology Co., Ltd. Class A
     31,000   $ 64,118
Xinjiang Goldwind Science & Technology Co., Ltd. Class H
     28,859   43,557
Xinjiang Xintai Natural Gas Co., Ltd. Class A
     21,792   75,179
Xinte Energy Co., Ltd. Class H
     28,800   70,976
Xinyi Solar Holdings, Ltd.
     340,228   600,397
XPeng, Inc. ADR (a)
     16,724   461,415
Xtep International Holdings, Ltd. (b)
     119,500   181,278
Yadea Group Holdings, Ltd. (c)
     92,000   142,381
Yangzijiang Shipbuilding Holdings, Ltd.
     294,600   333,054
Yankuang Energy Group Co., Ltd. Class H
     218,882   649,821
Yantai Changyu Pioneer Wine Co., Ltd. Class B
     31,253   44,457
Yantai Dongcheng Pharmaceutical Co., Ltd. Class A
     40,100   81,361
Yantai Eddie Precision Machinery Co., Ltd. Class A
     23,881   89,722
Yantai Jereh Oilfield Services Group Co., Ltd. Class A
     9,900   65,734
Yantai Zhenghai Magnetic Material Co., Ltd. Class A
     19,000   39,568
Yatsen Holding, Ltd. ADR (a)
     19,667   13,501
Yeahka, Ltd. (a)(b)
     10,400   32,004
YGSOFT, Inc. Class A
     54,832   65,386
Yidu Tech, Inc. (a)(b)(c)
     38,600   48,254
Yifan Pharmaceutical Co., Ltd. Class A
     25,100   58,914
Yifeng Pharmacy Chain Co., Ltd. Class A
     15,798   99,545
Yihai International Holding, Ltd. (a)(b)
     22,000   63,207
Yixintang Pharmaceutical Group Co., Ltd. Class A
     13,500   50,571
Yonghui Superstores Co., Ltd. Class A
     62,400   41,481
Yonyou Network Technology Co., Ltd. Class A
     24,420   88,092
Youdao, Inc. ADR (a)
     8,782   62,352
YTO Express Group Co., Ltd. Class A
     30,900   83,966
Yum China Holdings, Inc.
     36,938   1,534,405
Yunda Holding Co., Ltd. Class A
     24,830   68,684
Yunnan Energy New Material Co., Ltd. Class A
     11,000   381,216
Yunnan Lincang Xinyuan Germanium Industrial Co., Ltd. Class A (a)
     109,700   235,364
Zai Lab, Ltd. ADR (a)
     5,838   256,755
ZBOM Home Collection Co., Ltd. Class A
     700   2,793
Zhaojin Mining Industry Co., Ltd. Class H
     71,500   63,088
Security Description     Shares   Value
Zhejiang Century Huatong Group Co., Ltd. Class A (a)
     154,218   $ 152,321
Zhejiang Crystal-Optech Co., Ltd. Class A
     24,100   42,368
Zhejiang Dahua Technology Co., Ltd. Class A
     20,200   52,663
Zhejiang Dingli Machinery Co., Ltd. Class A
     12,120   85,705
Zhejiang Expressway Co., Ltd. Class H
     210,000   176,444
Zhejiang Hisoar Pharmaceutical Co., Ltd. Class A
     45,800   52,091
Zhejiang Huayou Cobalt Co., Ltd. Class A
     3,100   47,759
Zhejiang Jiecang Linear Motion Technology Co., Ltd. Class A
     17,836   82,660
Zhejiang Jiemei Electronic & Technology Co., Ltd. Class A
     15,280   62,703
Zhejiang Jingu Co., Ltd. Class A (a)
     8,500   9,185
Zhejiang Jingxin Pharmaceutical Co., Ltd. Class A
     32,760   51,864
Zhejiang Jinke Culture Industry Co., Ltd. Class A (a)
     95,200   64,036
Zhejiang JIULI Hi-tech Metals Co., Ltd. Class A
     42,100   97,688
Zhejiang Longsheng Group Co., Ltd. Class A
     22,500   38,634
Zhejiang Medicine Co., Ltd. Class A
     25,100   61,761
Zhejiang Meida Industrial Co., Ltd. Class A
     39,100   83,828
Zhejiang NHU Co., Ltd. Class A
     17,320   86,435
Zhejiang Semir Garment Co., Ltd. Class A
     30,400   32,564
Zhejiang Shibao Co., Ltd. Class A (a)
     63,600   56,305
Zhejiang Starry Pharmaceutical Co., Ltd. Class A
     500   4,632
Zhejiang Supor Co., Ltd. Class A (a)
     8,990   70,851
Zhejiang Xianju Pharmaceutical Co., Ltd. Class A
     40,700   66,678
Zhejiang Yasha Decoration Co., Ltd. Class A
     76,300   69,352
Zhejiang Yongtai Technology Co., Ltd. Class A (a)
     38,107   229,551
Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H (b)
     45,200   50,156
Zhihu, Inc. ADR (a)(b)
     9,658   23,372
ZhongAn Online P&C Insurance Co., Ltd. Class H (a)(b)(c)
     21,700   73,983
Zhongsheng Group Holdings, Ltd.
     50,500   357,241
Zhongtian Financial Group Co., Ltd. Class A (a)
     105,100   42,053
 
See accompanying notes to financial statements.
101

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Zhuzhou CRRC Times Electric Co., Ltd.
     72,300   $ 283,886
Zijin Mining Group Co., Ltd. Class H
     924,506   1,423,697
Zoomlion Heavy Industry Science & Technology Co., Ltd. Class A (a)
     96,300   100,728
ZTE Corp. Class A
     10,500   39,531
ZTE Corp. Class H
     91,640   187,460
ZTO Express Cayman, Inc. ADR
     41,247   1,031,175
          208,054,189
HONG KONG — 0.6%          
CT Environmental Group Ltd (a)(d)
     438,000   —
Alibaba Pictures Group, Ltd. (a)
     1,090,107   90,478
China Fiber Optic Network System Group, Ltd. (d)
     686,800   —
China First Capital Group, Ltd. (a)
     66,800   2,431
China High Speed Transmission Equipment Group Co., Ltd. (a)
     8,000   4,852
China Huishan Dairy Holdings Co., Ltd. (b)(d)
     549,000   —
China Investment Fund Co., Ltd. (a)
     24,000   12,197
Chongsing Holdings,Ltd. (a)(d)
     2,260,000   —
Citychamp Watch & Jewellery Group, Ltd. (a)
     400,000   51,587
Comba Telecom Systems Holdings, Ltd. (a)(b)
     305,847   52,723
Dawnrays Pharmaceutical Holdings, Ltd.
     172,000   28,552
Digital China Holdings, Ltd.
     127,000   61,786
Fullshare Holdings, Ltd. (a)(b)
     31,100   461
Guotai Junan International Holdings, Ltd.
     22,000   2,472
Hi Sun Technology China, Ltd. (a)(b)
     222,000   28,064
Huabao International Holdings, Ltd. (b)
     53,000   29,575
Huiyuan Juice Group, Ltd. (a)(d)
     157,000   —
Nine Dragons Paper Holdings, Ltd.
     160,000   139,745
Sino Biopharmaceutical, Ltd.
     992,000   619,414
Skyworth Group, Ltd. (a)
     104,755   53,773
Solargiga Energy Holdings, Ltd. (a)
     1,288,000   63,319
SSY Group, Ltd. (b)
     304,691   137,728
Tech Pro Technology Development, Ltd. (a)(b)(d)
     1,684,800   —
TROOPS, Inc. (a)(b)
     15,716   67,422
United Energy Group, Ltd. (b)
     270,000   31,029
United Laboratories International Holdings, Ltd.
     96,000   50,504
Vinda International Holdings, Ltd. (b)
     37,000   83,719
Wasion Holdings, Ltd.
     8,000   2,881
Security Description     Shares   Value
WH Group, Ltd. (c)
     634,759   $ 401,213
Xinyi Glass Holdings, Ltd.
     304,721   739,293
          2,755,218
INDIA — 22.2%          
Aarti Drugs, Ltd.
     2,901   16,428
Aavas Financiers, Ltd. (a)
     7,560   256,352
Acrysil, Ltd.
     11,419   125,025
Adani Enterprises, Ltd.
     5,095   135,469
Adani Green Energy, Ltd. (a)
     31,395   793,296
Adani Ports & Special Economic Zone, Ltd.
     96,013   980,973
Adani Power, Ltd. (a)
     79,753   194,817
Adani Total Gas, Ltd.
     21,146   599,930
Adani Transmission, Ltd. (a)
     19,927   622,766
Affle India, Ltd. (a)
     741   12,322
AIA Engineering, Ltd.
     8,808   188,621
Ajanta Pharma, Ltd.
     3,473   82,992
Alembic Pharmaceuticals, Ltd.
     10,253   100,345
Alok Industries, Ltd. (a)
     343,087   114,777
Amber Enterprises India, Ltd. (a)
     532   24,736
APL Apollo Tubes, Ltd. (a)
     4,463   53,868
Apollo Hospitals Enterprise, Ltd.
     21,591   1,286,798
Apollo Tyres, Ltd.
     52,114   131,360
Ashok Leyland, Ltd.
     52,008   80,474
Asian Paints, Ltd.
     27,369   1,112,440
Astral, Ltd.
     2,283   60,949
AstraZeneca Pharma India, Ltd.
     8,391   282,581
AU Small Finance Bank, Ltd. (a)(c)
     7,479   123,005
Aurobindo Pharma, Ltd.
     36,710   323,886
Avenue Supermarts, Ltd. (a)(c)
     5,647   298,343
Axis Bank, Ltd. (a)
     172,161   1,729,335
Azure Power Global, Ltd. (a)(b)
     1,627   27,073
Bajaj Auto, Ltd.
     6,469   311,861
Bajaj Electricals, Ltd. (a)
     25,265   358,328
Bajaj Finance, Ltd.
     18,431   1,765,861
Bajaj Finserv, Ltd.
     3,020   679,941
Bajaj Hindusthan Sugar, Ltd. (a)
     430,171   80,613
Balkrishna Industries, Ltd.
     4,566   128,722
Bandhan Bank, Ltd. (c)
     52,583   213,316
Bank of Baroda (a)
     48,218   71,015
BEML, Ltd.
     7,272   174,552
Bharat Electronics, Ltd.
     105,987   294,847
Bharat Forge, Ltd.
     28,519   263,681
Bharat Heavy Electricals, Ltd. (a)
     243,951   158,878
Bharat Petroleum Corp., Ltd.
     60,109   285,057
Bharti Airtel, Ltd. (a)
     217,321   2,165,180
Biocon, Ltd. (a)
     137,654   609,656
Birlasoft, Ltd.
     55,448   332,907
Bosch, Ltd.
     774   147,481
Brightcom Group, Ltd. (e)
     307,045   399,533
Britannia Industries, Ltd.
     4,924   208,358
Can Fin Homes, Ltd.
     63,800   531,660
Cholamandalam Financial Holdings, Ltd.
     36,094   294,635
 
See accompanying notes to financial statements.
102

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Cholamandalam Investment & Finance Co., Ltd.
     65,498   $ 621,010
Cipla, Ltd.
     90,886   1,221,069
City Union Bank, Ltd.
     249   424
Coal India, Ltd.
     142,218   343,557
Crompton Greaves Consumer Electricals, Ltd.
     27,971   138,055
Dabur India, Ltd.
     35,633   252,147
DCB Bank, Ltd. (a)
     74,833   68,537
Deepak Nitrite, Ltd.
     2,874   85,101
Dhani Services, Ltd. (a)
     22,539   18,546
Dish TV India, Ltd. (a)
     142,527   30,753
Dishman Carbogen Amcis, Ltd. (a)
     3,772   9,197
Divi's Laboratories, Ltd.
     9,396   545,848
Dixon Technologies India, Ltd.
     9,639   548,103
DLF, Ltd.
     68,687   344,863
Dr Lal PathLabs, Ltd. (c)
     8,196   282,379
Dr Reddy's Laboratories, Ltd.
     11,067   627,354
Edelweiss Financial Services, Ltd.
     38,307   29,675
Eicher Motors, Ltd.
     10,397   337,143
Emami, Ltd.
     12,310   72,642
Escorts, Ltd.
     36,177   807,257
Federal Bank, Ltd.
     168,919   217,126
Fine Organic Industries, Ltd.
     23   1,216
Fortis Healthcare, Ltd. (a)
     47,817   183,254
Future Consumer, Ltd. (a)
     365,898   21,971
Future Lifestyle Fashions, Ltd. (a)
     33,316   15,081
Future Retail, Ltd. (a)
     46,206   19,025
GAIL India, Ltd.
     169,145   347,442
Gillette India, Ltd.
     971   62,145
Glenmark Pharmaceuticals, Ltd.
     19,277   112,444
GMR Infrastructure, Ltd. (a)
     651,184   317,535
GMR Power & Urban Infra, Ltd. (a)
     68,104   30,199
Godrej Consumer Products, Ltd. (a)
     50,095   494,041
Godrej Industries, Ltd. (a)
     18,713   114,587
Godrej Properties, Ltd. (a)
     2,527   55,766
Granules India, Ltd.
     62,849   254,216
Graphite India, Ltd.
     2,748   18,236
Grasim Industries, Ltd.
     15,090   331,373
GTL Infrastructure, Ltd. (a)
     4,228,602   83,707
Gujarat Pipavav Port, Ltd.
     45,502   45,877
Havells India, Ltd.
     35,850   545,284
HCL Technologies, Ltd.
     100,203   1,538,914
HDFC Life Insurance Co., Ltd. (c)
     35,564   252,597
HEG, Ltd.
     2,031   36,882
Hero MotoCorp, Ltd.
     12,618   382,020
HFCL, Ltd.
     106,933   111,061
Hikal, Ltd.
     9,910   52,614
Hindalco Industries, Ltd.
     116,635   876,590
Hindustan Construction Co., Ltd. (a)
     632,432   131,035
Security Description     Shares   Value
Hindustan Copper, Ltd.
     25,297   $ 37,975
Hindustan Petroleum Corp., Ltd.
     54,686   194,387
Hindustan Unilever, Ltd.
     87,858   2,375,325
Hindustan Zinc, Ltd.
     157,737   645,624
Housing Development Finance Corp., Ltd.
     180,055   5,680,019
ICICI Bank, Ltd. ADR
     210,473   3,986,359
ICICI Bank, Ltd.
     603   5,812
ICICI Lombard General Insurance Co., Ltd. (c)
     2,357   41,317
ICICI Prudential Life Insurance Co., Ltd. (c)
     11,798   77,989
IDFC First Bank, Ltd. (a)
     112,587   58,986
IDFC, Ltd. (a)
     165,559   134,916
IIFL Finance, Ltd.
     139,668   526,416
India Cements, Ltd.
     37,346   103,253
Indiabulls Housing Finance, Ltd.
     41,885   87,225
Indiabulls Real Estate, Ltd. (a)
     33,432   44,738
IndiaMart InterMesh, Ltd. (c)
     416   23,731
Indian Hotels Co., Ltd.
     343,271   1,080,437
Indian Oil Corp., Ltd.
     227,094   356,487
Indus Towers, Ltd. (a)
     74,304   217,739
Infibeam Avenues, Ltd.
     929,652   237,397
Info Edge India, Ltd.
     3,311   197,041
Infosys, Ltd. ADR
     347,186   8,641,460
Inox Wind, Ltd. (a)
     62,631   91,581
InterGlobe Aviation, Ltd. (a)(c)
     7,510   199,621
IOL Chemicals & Pharmaceuticals, Ltd.
     1,985   9,265
Ipca Laboratories, Ltd.
     29,664   417,214
ITC, Ltd. GDR
     205,886   679,424
Jaiprakash Power Ventures, Ltd. (a)
     1,533,121   137,581
Jindal Steel & Power, Ltd.
     62,601   440,210
Johnson Controls-Hitachi Air Conditioning India, Ltd. (a)
     2,671   62,417
JSW Energy, Ltd.
     25,743   102,666
JSW Steel, Ltd.
     152,020   1,469,844
Jubilant Foodworks, Ltd.
     9,979   347,207
Jubilant Ingrevia, Ltd.
     10,763   63,896
Jubilant Pharmova, Ltd.
     10,380   53,171
Just Dial, Ltd. (a)
     662   6,215
Karnataka Bank, Ltd.
     60,871   44,544
Kaveri Seed Co., Ltd.
     11,839   85,463
Kotak Mahindra Bank, Ltd.
     87,739   2,030,763
Larsen & Toubro, Ltd. GDR
     51,793   1,206,777
Laurus Labs, Ltd. (c)
     97,398   758,490
Lemon Tree Hotels, Ltd. (a)(c)
     333,941   279,404
LIC Housing Finance, Ltd.
     40,421   191,476
Lupin, Ltd.
     25,664   253,016
Mahindra & Mahindra Financial Services, Ltd.
     81,282   170,716
Mahindra & Mahindra, Ltd.
     117,010   1,245,456
MakeMyTrip, Ltd. (a)(b)
     11,878   318,687
Manappuram Finance, Ltd.
     66,751   100,027
Marico, Ltd.
     55,944   371,877
Marksans Pharma, Ltd.
     258,462   155,197
 
See accompanying notes to financial statements.
103

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Maruti Suzuki India, Ltd.
     8,746   $ 872,730
Max Financial Services, Ltd. (a)
     15,795   157,147
Meghmani Finechem, Ltd. (a)
     1,782   22,877
Mindtree, Ltd.
     12,369   702,376
Motherson Sumi Systems, Ltd.
     97,933   180,228
Motherson Sumi Wiring India, Ltd. (a)
     102,423   87,115
Muthoot Finance, Ltd.
     10,809   189,855
Natco Pharma, Ltd.
     9,786   97,653
Navin Fluorine International, Ltd.
     6,144   330,994
NCC, Ltd.
     86,278   66,665
Nestle India, Ltd.
     2,303   528,240
NOCIL, Ltd.
     14,872   48,850
NTPC, Ltd.
     155,591   277,199
Oberoi Realty, Ltd. (a)
     307   3,808
Oil & Natural Gas Corp., Ltd.
     364,848   789,160
Olectra Greentech, Ltd. (a)
     16,263   143,700
Page Industries, Ltd.
     833   474,784
PI Industries, Ltd.
     9,486   352,982
Piramal Enterprises, Ltd.
     4,909   141,676
PNB Housing Finance, Ltd. (a)(c)
     43,517   216,422
Power Finance Corp., Ltd.
     84,579   125,683
Power Grid Corp. of India, Ltd.
     117,529   336,262
Rajesh Exports, Ltd.
     27,478   250,611
RattanIndia Infrastructure, Ltd. (a)
     238,667   145,358
RattanIndia Power, Ltd. (a)
     1,613,650   113,930
Raymond, Ltd. (a)
     9,486   106,991
RBL Bank, Ltd. (a)(c)
     57,026   97,985
REC, Ltd.
     75,759   123,024
Reliance Industries, Ltd. GDR (c)
     143,311   9,888,459
Reliance Infrastructure, Ltd. (a)
     79,189   117,360
Reliance Power, Ltd. (a)
     552,406   98,416
Religare Enterprises, Ltd. (a)
     41,901   71,996
Repco Home Finance, Ltd.
     105,112   244,695
SBI Life Insurance Co., Ltd. (c)
     19,835   293,553
Sequent Scientific, Ltd.
     111,605   197,067
Shilpa Medicare, Ltd.
     13,087   68,773
Shree Renuka Sugars, Ltd. (a)
     248,965   116,967
Shriram City Union Finance, Ltd.
     7,575   162,356
Shriram Transport Finance Co., Ltd.
     20,486   306,810
Siemens, Ltd.
     29,061   908,245
Solara Active Pharma Sciences, Ltd.
     1,120   9,845
South Indian Bank, Ltd. (a)
     506,967   50,178
SpiceJet, Ltd. (a)
     64,925   46,611
State Bank of India
     175,653   1,144,092
Steel Authority of India, Ltd.
     219,670   285,694
Strides Pharma Science, Ltd.
     14,337   65,578
Subex, Ltd.
     116,994   49,638
Sun Pharma Advanced Research Co., Ltd. (a)
     26,411   103,500
Sun Pharmaceutical Industries, Ltd.
     119,362   1,440,929
Suzlon Energy, Ltd. (a)
     1,051,920   127,022
Security Description     Shares   Value
Tata Communications, Ltd.
     2,984   $ 48,382
Tata Consultancy Services, Ltd.
     90,455   4,464,496
Tata Consumer Products, Ltd.
     16,073   164,898
Tata Motors, Ltd. (a)
     163,636   936,682
Tata Steel, Ltd.
     37,451   646,070
Tata Teleservices Maharashtra, Ltd. (a)
     212,308   467,064
TCI Express, Ltd.
     1,101   24,792
Tech Mahindra, Ltd.
     50,165   992,674
Thyrocare Technologies, Ltd. (c)
     38,114   389,967
Titan Co., Ltd.
     17,539   587,021
Torrent Pharmaceuticals, Ltd.
     7,939   292,515
Trent, Ltd.
     6,154   103,589
TVS Motor Co., Ltd.
     38,875   320,978
Ujjivan Financial Services, Ltd. (a)
     17,674   23,756
UltraTech Cement, Ltd.
     6,724   585,864
United Breweries, Ltd.
     7,468   146,802
United Spirits, Ltd. (a)
     49,041   574,933
UPL, Ltd.
     43,712   443,956
Vakrangee, Ltd.
     164,936   75,530
Vedanta, Ltd.
     59,833   318,491
V-Mart Retail, Ltd. (a)
     3,135   164,096
Vodafone Idea, Ltd. (a)
     739,885   94,225
Wipro, Ltd. ADR
     244,938   1,888,472
WNS Holdings, Ltd. ADR (a)
     9,506   812,668
Wockhardt, Ltd. (a)
     27,097   94,264
Yes Bank, Ltd. (a)
     162,974   26,454
Zee Entertainment Enterprises, Ltd.
     79,351   301,958
Zydus Lifesciences, Ltd.
     26,698   122,788
          106,213,253
INDONESIA — 2.8%          
Ace Hardware Indonesia Tbk PT
     2,235,700   159,554
Adaro Energy Indonesia Tbk PT
     1,886,600   353,347
AKR Corporindo Tbk PT
     609,000   38,586
Astra International Tbk PT
     2,379,351   1,089,242
Bank Central Asia Tbk PT
     6,184,775   3,434,192
Bank Jago Tbk PT (a)
     149,400   152,390
Bank Mandiri Persero Tbk PT
     2,373,340   1,305,440
Bank MNC Internasional Tbk PT (a)
     3,767,900   51,157
Bank Negara Indonesia Persero Tbk PT
     522,100   299,901
Bank Rakyat Indonesia Persero Tbk PT
     7,219,831   2,342,518
Barito Pacific Tbk PT
     1,855,900   116,943
Chandra Asri Petrochemical Tbk PT
     144,978   101,951
Charoen Pokphand Indonesia Tbk PT
     543,300   213,726
Ciputra Development Tbk PT
     862,296   62,439
Gudang Garam Tbk PT
     2,300   5,060
Indah Kiat Pulp & Paper Tbk PT
     206,000   113,309
Indocement Tunggal Prakarsa Tbk PT
     266,025   199,577
 
See accompanying notes to financial statements.
104

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Kalbe Farma Tbk PT
     948,100   $ 106,280
Kresna Graha Investama Tbk PT (a)
     8,123,200   34,501
Lippo Karawaci Tbk PT (a)
     3,778,310   34,462
Matahari Department Store Tbk PT
     19,100   8,245
Media Nusantara Citra Tbk PT
     390,700   27,067
Pabrik Kertas Tjiwi Kimia Tbk PT
     74,900   36,635
Pakuwon Jati Tbk PT (a)
     2,141,000   72,149
Perusahaan Gas Negara Tbk PT (a)
     1,496,940   146,437
PP Persero Tbk PT (a)
     730,576   50,612
Semen Indonesia Persero Tbk PT
     505,700   234,145
Summarecon Agung Tbk PT (a)
     918,727   49,255
Surya Semesta Internusa Tbk PT (a)
     1,290,000   35,568
Telkom Indonesia Persero Tbk PT
     5,374,694   1,713,914
Tower Bersama Infrastructure Tbk PT
     1,536,000   306,933
Transcoal Pacific Tbk PT (a)
     82,400   59,093
Unilever Indonesia Tbk PT
     311,800   79,456
United Tractors Tbk PT
     177,545   315,841
Wijaya Karya Persero Tbk PT (a)
     691,157   47,882
          13,397,807
MALAYSIA — 3.1%          
AEON Credit Service M Bhd
     58,850   211,621
Alliance Bank Malaysia Bhd
     631,110   564,356
AMMB Holdings Bhd (a)
     93,800   82,763
Astro Malaysia Holdings Bhd
     178,000   46,566
Axiata Group Bhd
     443,783   400,009
Bermaz Auto Bhd
     238,680   101,608
British American Tobacco Malaysia Bhd
     4,700   13,905
Bursa Malaysia Bhd
     317,651   534,109
Cahya Mata Sarawak Bhd
     224,700   58,249
Careplus Group Bhd
     3,300   518
Carlsberg Brewery Malaysia Bhd Class B
     82,703   427,210
CIMB Group Holdings Bhd
     487,962   618,548
Datasonic Group Bhd
     436,800   49,344
Dayang Enterprise Holdings Bhd
     143,850   30,790
Dialog Group Bhd
     552,700   360,164
DiGi.Com Bhd
     183,900   170,571
Eco World Development Group Bhd
     191,600   45,112
Frontken Corp. Bhd
     168,100   121,135
Gamuda Bhd
     182,867   150,477
Genting Bhd
     432,900   481,829
Genting Malaysia Bhd
     479,800   340,045
Globetronics Technology Bhd
     119,100   43,054
Hartalega Holdings Bhd
     90,800   104,734
Hibiscus Petroleum Bhd
     217,100   59,377
Hong Leong Bank Bhd
     49,000   235,400
IHH Healthcare Bhd
     120,300   177,385
Security Description     Shares   Value
IJM Corp. Bhd
     922,580   $ 366,421
Inari Amertron Bhd
     556,212   406,105
IOI Corp. Bhd
     612,796   600,445
IOI Properties Group Bhd
     521,316   121,503
KNM Group Bhd (a)
     812,000   29,933
Kuala Lumpur Kepong Bhd
     48,996   293,644
Malayan Banking Bhd
     409,748   871,193
Malaysia Airports Holdings Bhd (a)
     121,700   201,157
Maxis Bhd
     324,600   303,390
MISC Bhd
     75,400   131,801
My EG Services Bhd
     765,958   185,808
Padini Holdings Bhd
     187,400   153,762
Pentamaster Corp. Bhd
     320,175   287,071
Petronas Chemicals Group Bhd
     127,800   291,784
PPB Group Bhd
     111,420   453,126
Press Metal Aluminium Holdings Bhd
     834,270   1,230,150
Public Bank Bhd
     1,209,973   1,343,855
RHB Bank Bhd
     254,808   361,176
Sapura Energy Bhd (a)
     964,500   8,028
Sime Darby Bhd
     328,488   187,495
Sime Darby Plantation Bhd
     322,599   381,311
Sime Darby Property Bhd
     362,788   50,906
Supermax Corp. Bhd
     167,834   47,100
Telekom Malaysia Bhd
     124,809   145,149
Tenaga Nasional Bhd
     227,650   487,270
Top Glove Corp. Bhd
     380,900   173,929
Velesto Energy Bhd (a)
     752,900   18,801
Yinson Holdings Bhd
     126,700   144,636
YTL Corp. Bhd
     384,510   53,954
          14,759,782
PAKISTAN — 0.1%          
Bank Alfalah, Ltd.
     353,417   65,383
Fauji Fertilizer Co., Ltd.
     11,248   6,976
Habib Bank, Ltd.
     81,508   50,194
Lucky Cement, Ltd. (a)
     31,485   109,275
Millat Tractors, Ltd.
     30,817   145,715
National Bank of Pakistan
     325,000   55,286
Nishat Mills, Ltd.
     98,300   45,936
Searle Co., Ltd.
     68,608   46,396
United Bank, Ltd.
     85,189   63,370
          588,531
PHILIPPINES — 1.2%          
Aboitiz Equity Ventures, Inc.
     111,920   128,693
Alliance Global Group, Inc.
     744,700   180,184
Ayala Land, Inc.
     1,162,251   787,263
Bank of the Philippine Islands
     93,670   180,298
BDO Unibank, Inc.
     186,685   478,753
Bloomberry Resorts Corp. (a)
     427,600   56,523
Cebu Air, Inc. (a)
     58,930   54,950
Cosco Capital, Inc.
     1,393,100   132,997
D&L Industries, Inc.
     1,510,900   233,300
DoubleDragon Corp.
     488,270   85,680
Globe Telecom, Inc.
     2,230   109,464
 
See accompanying notes to financial statements.
105

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
GT Capital Holdings, Inc.
     7,394   $ 78,877
JG Summit Holdings, Inc.
     337,642   399,989
Jollibee Foods Corp.
     42,330   184,061
LT Group, Inc.
     507,200   87,237
Metro Pacific Investments Corp.
     1,215,000   89,226
Metropolitan Bank & Trust Co.
     87,050   95,890
PLDT, Inc.
     17,354   620,444
Puregold Price Club, Inc.
     316,950   218,977
SM Investments Corp.
     31,325   550,284
SM Prime Holdings, Inc.
     982,400   718,598
Universal Robina Corp.
     89,730   209,824
          5,681,512
SINGAPORE — 0.0% (f)          
Silverlake Axis, Ltd.
     222,900   52,705
TAIWAN — 23.6%          
Accton Technology Corp.
     37,000   287,332
Acer, Inc.
     631,395   660,010
Advantech Co., Ltd.
     48,082   620,083
ASE Technology Holding Co., Ltd.
     408,043   1,474,005
Asia Cement Corp.
     476,687   808,579
Asustek Computer, Inc.
     117,737   1,534,816
AU Optronics Corp. ADR
     145,511   1,008,391
Bank of Kaohsiung Co., Ltd.
     280,546   144,917
Baotek Industrial Materials, Ltd. (a)
     22,000   24,533
Catcher Technology Co., Ltd.
     93,539   471,751
Cathay Financial Holding Co., Ltd.
     1,134,580   2,554,156
Center Laboratories, Inc.
     65,557   143,234
Chailease Holding Co., Ltd.
     110,214   975,141
Chang Hwa Commercial Bank, Ltd.
     596,850   398,921
Cheng Shin Rubber Industry Co., Ltd.
     119,000   147,237
China Development Financial Holding Corp.
     3,016,559   2,021,463
China Steel Chemical Corp.
     18,877   76,756
China Steel Corp.
     1,543,216   2,097,910
Chroma ATE, Inc.
     23,000   144,495
Chung Lien Co., Ltd.
     65,000   180,357
Chunghwa Telecom Co., Ltd.
     261,074   1,157,231
Compal Electronics, Inc. (a)
     880,029   823,160
Compeq Manufacturing Co., Ltd.
     47,000   79,231
CTBC Financial Holding Co., Ltd.
     2,166,570   2,223,170
Delta Electronics, Inc.
     231,986   2,173,996
E.Sun Financial Holding Co., Ltd.
     928,200   1,070,695
Eclat Textile Co., Ltd.
     36,365   606,052
eCloudvalley Digital Technology Co., Ltd.
     15,779   165,767
EirGenix, Inc. (a)
     22,000   70,565
Elite Material Co., Ltd.
     21,000   189,100
Security Description     Shares   Value
Elite Semiconductor Microelectronics Technology, Inc.
     21,000   $ 118,004
eMemory Technology, Inc. (a)
     13,318   859,931
ENNOSTAR, Inc. (a)
     106,585   265,984
Evergreen Marine Corp. Taiwan, Ltd. (a)
     198,663   936,059
Everlight Electronics Co., Ltd.
     149,996   255,477
Far Eastern New Century Corp.
     782,352   830,096
Far EasTone Telecommunications Co., Ltd. (a)
     111,000   284,750
Feng TAY Enterprise Co., Ltd.
     54,830   366,471
Firich Enterprises Co., Ltd. (a)
     33,640   35,282
First Financial Holding Co., Ltd.
     737,315   732,130
FocalTech Systems Co., Ltd.
     20,000   101,914
Formosa Chemicals & Fibre Corp.
     533,182   1,470,128
Formosa Petrochemical Corp.
     183,000   602,304
Formosa Plastics Corp.
     571,663   2,124,919
Foxconn Technology Co., Ltd.
     216,519   474,579
Fubon Financial Holding Co., Ltd.
     902,646   2,410,080
Genius Electronic Optical Co., Ltd.
     6,475   102,939
Giant Manufacturing Co., Ltd.
     42,000   381,865
Globalwafers Co., Ltd.
     15,884   371,993
Himax Technologies, Inc. ADR (b)
     18,778   203,929
Hiwin Technologies Corp.
     36,717   307,561
Holy Stone Enterprise Co., Ltd.
     14,000   58,636
Hon Hai Precision Industry Co., Ltd.
     1,250,765   4,627,370
Hotai Motor Co., Ltd.
     38,000   793,117
HTC Corp. (a)
     107,710   222,551
Hua Nan Financial Holdings Co., Ltd.
     893,390   759,264
Innolux Corp.
     896,753   525,817
Inventec Corp.
     344,000   296,557
ITEQ Corp.
     17,267   72,319
King Yuan Electronics Co., Ltd.
     326,898   488,895
Largan Precision Co., Ltd.
     10,142   667,249
Lite-On Technology Corp.
     485,394   1,153,703
Macronix International Co., Ltd.
     246,673   345,238
Makalot Industrial Co., Ltd.
     45,069   323,253
MediaTek, Inc. (a)
     149,601   4,725,369
Medigen Biotechnology Corp. (a)
     14,000   25,555
Medigen Vaccine Biologics Corp. (a)
     20,000   186,378
Mega Financial Holding Co., Ltd.
     895,646   1,341,054
Merry Electronics Co., Ltd.
     43,809   130,732
Microbio Co., Ltd. (a)
     3,294   7,025
Micro-Star International Co., Ltd.
     43,000   195,103
Motech Industries, Inc.
     85,869   99,801
Nan Ya Plastics Corp.
     817,704   2,659,896
Nanya Technology Corp.
     65,000   156,990
Nien Made Enterprise Co., Ltd.
     11,000   129,190
Novatek Microelectronics Corp.
     72,599   1,080,693
 
See accompanying notes to financial statements.
106

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Nuvoton Technology Corp.
     23,000   $ 153,325
O-Bank Co., Ltd.
     811,281   290,234
Oneness Biotech Co., Ltd. (a)
     16,000   119,784
PChome Online, Inc.
     21,957   69,891
Pegatron Corp.
     310,900   785,619
Phoenix Silicon International Corp.
     21,320   43,828
Pou Chen Corp.
     215,000   236,750
Powertech Technology, Inc.
     207,518   688,069
President Chain Store Corp. (a)
     49,000   449,784
Promos Technologies, Inc. (d)
     2,232   —
Quanta Computer, Inc.
     492,729   1,518,523
Radiant Opto-Electronics Corp.
     41,000   148,107
RDC Semiconductor Co., Ltd. (a)
     10,000   131,058
Realtek Semiconductor Corp.
     70,825   1,064,173
RichWave Technology Corp.
     14,000   92,840
Ritek Corp. (a)
     67,593   21,610
Senhwa Biosciences, Inc. (a)
     1,000   2,736
Shanghai Commercial & Savings Bank, Ltd.
     347,000   607,975
Shin Kong Financial Holding Co., Ltd.
     2,503,143   943,544
Silicon Motion Technology Corp. ADR
     3,571   238,614
Simplo Technology Co., Ltd.
     16,000   173,394
Sino-American Silicon Products, Inc.
     31,000   191,508
SinoPac Financial Holdings Co., Ltd.
     1,851,630   1,189,117
Sitronix Technology Corp.
     10,000   101,391
Synnex Technology International Corp.
     205,000   538,768
TA-I Technology Co., Ltd.
     15,750   32,873
Taishin Financial Holding Co., Ltd.
     1,063,774   761,125
Taiwan Cement Corp.
     844,262   1,470,383
Taiwan Cooperative Financial Holding Co., Ltd.
     279,382   288,143
Taiwan FU Hsing Industrial Co., Ltd.
     195,000   297,419
Taiwan High Speed Rail Corp.
     115,000   115,797
Taiwan Mobile Co., Ltd.
     177,260   649,610
Taiwan Paiho, Ltd.
     25,000   62,737
Taiwan Semiconductor Manufacturing Co., Ltd. ADR
     282,980   29,503,495
Taiwan Surface Mounting Technology Corp.
     20,000   82,369
Taiwan Union Technology Corp.
     13,000   37,886
Teco Electric and Machinery Co., Ltd.
     150,000   168,316
TPK Holding Co., Ltd.
     26,000   33,712
Tripod Technology Corp.
     150,361   703,222
Unimicron Technology Corp.
     96,540   838,995
Uni-President Enterprises Corp.
     493,893   1,130,809
United Integrated Services Co., Ltd.
     74,755   508,777
Security Description     Shares   Value
United Microelectronics Corp. ADR (b)
     254,308   $ 2,319,289
Vanguard International Semiconductor Corp.
     22,000   95,597
Voltronic Power Technology Corp.
     6,804   346,713
Walsin Lihwa Corp.
     498,000   511,010
Walsin Technology Corp. (a)
     30,000   148,683
Win Semiconductors Corp.
     31,000   287,803
Winbond Electronics Corp.
     108,000   117,606
Wistron Corp.
     734,976   763,155
Wiwynn Corp.
     9,248   329,231
Yageo Corp.
     33,134   501,899
Yang Ming Marine Transport Corp. (a)
     118,000   512,748
Yuanta Financial Holding Co., Ltd.
     1,632,709   1,504,407
Zhen Ding Technology Holding, Ltd.
     55,000   206,359
          112,772,014
THAILAND — 3.3%          
Advanced Info Service PCL
     170,961   1,198,012
Airports of Thailand PCL (a)
     371,500   740,207
Bangkok Bank PCL NVDR
     29,800   122,785
Bangkok Dusit Medical Services PCL Class F
     104,500   78,571
Bangkok Expressway & Metro PCL
     1,966,207   514,466
Beauty Community PCL (a)
     33,300   1,502
BEC World PCL (a)
     29,600   14,956
Bumrungrad Hospital PCL
     38,100   179,328
Carabao Group PCL Class F
     17,500   56,842
Central Plaza Hotel PCL (a)
     51,500   62,342
Charoen Pokphand Foods PCL
     250,600   181,638
Chularat Hospital PCL Class F
     2,079,200   241,375
CP ALL PCL
     720,654   1,408,797
CPN Retail Growth Leasehold REIT
     39,200   24,168
Delta Electronics Thailand PCL
     31,500   367,579
Electricity Generating PCL
     23,599   120,657
Energy Absolute PCL (b)
     245,200   722,695
Frasers Property Thailand Industrial Freehold & Leasehold REIT
     77,287   27,428
Global Power Synergy PCL Class F
     31,300   68,013
Gulf Energy Development PCL
     284,000   437,744
Gunkul Engineering PCL
     1,695,643   311,080
Hana Microelectronics PCL
     110,600   162,158
Ichitan Group PCL
     141,600   49,826
Indorama Ventures PCL
     178,800   250,051
IRPC PCL
     2,475,491   265,045
Jasmine International PCL (a)(b)
     661,525   81,174
Kasikornbank PCL
     61,954   300,919
Kasikornbank PCL NVDR
     95,100   461,914
KCE Electronics PCL (b)
     276,270   544,231
 
See accompanying notes to financial statements.
107

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Krungthai Card PCL
     94,500   $ 174,790
Lotus's Retail Growth Freehold & Leasehold Property Fund
     290,400   124,021
MC Group PCL
     321,100   87,397
Mega Lifesciences PCL
     245,000   335,263
Minor International PCL (a)
     371,046   373,836
Muangthai Capital PCL
     24,900   39,316
PTG Energy PCL
     190,700   77,427
PTT Exploration & Production PCL
     165,507   716,782
PTT Global Chemical PCL NVDR
     83,500   127,447
PTT PCL (b)
     793,883   919,233
Siam Cement PCL NVDR
     53,200   612,800
Siam Commercial Bank PCL
     247,728   849,353
Srisawad Corp. PCL
     262,931   450,739
Super Energy Corp. PCL NVDR
     1,075,300   28,783
SVI PCL
     848,140   212,992
Thai Beverage PCL
     1,055,900   557,852
Thai Oil PCL
     306,240   476,629
Thai Union Group PCL Class F
     232,200   131,987
TMBThanachart Bank PCL
     3,500,333   138,961
True Corp. PCL NVDR
     1,479,683   229,184
WHA Premium Growth Freehold & Leasehold Real Estate Investment Trust Class F,
     71,700   23,936
          15,684,231
UNITED STATES — 0.0% (f)          
Ideanomics, Inc. (a)(b)
     61,256   68,607
JS Global Lifestyle Co., Ltd. (c)
     81,000   95,259
Legend Biotech Corp. ADR (a)
     1,713   62,250
          226,116
TOTAL COMMON STOCKS

(Cost $409,429,138)
         480,185,358
       
WARRANTS — 0.0% (f)    
MALAYSIA — 0.0% (f)      
Frontken Corp. Bhd (expiring 05/03/26) (a)
   73,100 6,346
THAILAND — 0.0% (f)      
Srisawad Corp. PCL (expiring 8/29/25) (a)
   11,785 2,782
TOTAL WARRANTS

(Cost $0)
     9,128
Security Description     Shares   Value
SHORT-TERM INVESTMENTS — 1.2%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (g)(h)
   20,796   $ 20,794
State Street Navigator Securities Lending Portfolio II (i)(j)
   5,846,325   5,846,325
TOTAL SHORT-TERM INVESTMENTS

(Cost $5,867,118)
   5,867,119  
TOTAL INVESTMENTS — 101.5%

(Cost $415,296,256)
   486,061,605  
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.5)%
  (7,175,142)  
NET ASSETS — 100.0%
  $ 478,886,463  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at March 31, 2022.
(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 6.4% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d) Fair valued as determined in good faith by the Trust's Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2022, total aggregate fair value of the security is $0, representing less than 0.05% of the Fund's net assets.
(e) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(f) Amount is less than 0.05% of net assets.
(g) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(h) The rate shown is the annualized seven-day yield at March 31, 2022.
(i) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(j) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
REIT Real Estate Investment Trust
 
See accompanying notes to financial statements.
108

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
See accompanying notes to financial statements.
109

SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $466,647,032   $13,538,326   $ 0(a)   $480,185,358
Warrants
   9,128   —   —   9,128
Short-Term Investments
   5,867,119   —   —   5,867,119
TOTAL INVESTMENTS
   $472,523,279   $13,538,326   $ 0   $486,061,605
(a) The Fund held Level 3 securities that were valued at $0 at March 31, 2022.
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Information Technology 22.4%
  Financials 19.2
  Consumer Discretionary 14.8
  Communication Services 9.7
  Materials 7.1
  Industrials 6.9
  Consumer Staples 5.6
  Health Care 5.5
  Energy 4.6
  Utilities 2.3
  Real Estate 2.2
  Short-Term Investments 1.2
  Liabilities in Excess of Other Assets (1.5)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 —   $ —   $13,676,578   $13,655,751   $(34)   $ 1   20,796   $ 20,794   $ 116
State Street Navigator Securities Lending Portfolio II
 8,324,543   8,324,543   32,625,906   35,104,124   —   —   5,846,325   5,846,325   74,554
Total
     $8,324,543   $46,302,484   $48,759,875   $(34)   $ 1       $ 5,867,119   $74,670
See accompanying notes to financial statements.
110

SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.2%        
AUSTRALIA — 1.2%          
APA Group Stapled Security
     438,094   $ 3,510,287
BELGIUM — 2.0%          
Ageas SA/NV (a)
     61,651   3,144,441
Etablissements Franz Colruyt NV (a)
     57,489   2,398,693
          5,543,134
CANADA — 20.2%          
Allied Properties Real Estate Investment Trust
     66,081   2,466,961
Atco, Ltd. Class I
     78,023   2,681,660
Bank of Montreal
     17,954   2,114,577
Bank of Nova Scotia
     32,883   2,358,846
BCE, Inc.
     61,309   3,401,556
Canadian Imperial Bank of Commerce
     18,087   2,197,432
Canadian Natural Resources, Ltd.
     50,446   3,126,396
Canadian Utilities, Ltd. Class A (a)
     102,012   3,129,658
Capital Power Corp.
     109,444   3,567,083
Emera, Inc.
     53,515   2,655,077
Great-West Lifeco, Inc.
     89,978   2,653,849
IGM Financial, Inc.
     69,811   2,468,718
Keyera Corp. (a)
     179,012   4,541,764
Manulife Financial Corp.
     121,570   2,594,817
Power Corp. of Canada
     76,205   2,361,101
Quebecor, Inc. Class B
     98,744   2,355,847
SmartCentres Real Estate Investment Trust
     138,754   3,647,007
Sun Life Financial, Inc.
     35,289   1,972,037
TC Energy Corp. (a)
     70,265   3,966,523
TELUS Corp.
     112,552   2,942,995
          57,203,904
CHINA — 4.5%          
Beijing Enterprises Holdings, Ltd.
     715,500   2,270,370
China Overseas Land & Investment, Ltd.
     1,313,000   3,931,589
Guangdong Investment, Ltd.
     2,770,000   3,791,710
Longfor Group Holdings, Ltd. (b)
     536,500   2,760,803
          12,754,472
FINLAND — 1.3%          
Fortum Oyj
     87,930   1,617,218
UPM-Kymmene Oyj
     58,788   1,940,075
          3,557,293
FRANCE — 2.5%          
Bouygues SA
     89,741   3,158,267
Rubis SCA
     128,711   3,819,419
          6,977,686
Security Description     Shares   Value
GERMANY — 2.3%          
Allianz SE
     9,750   $ 2,349,208
BASF SE
     42,461   2,445,362
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
     6,562   1,774,194
          6,568,764
HONG KONG — 9.1%          
CK Infrastructure Holdings, Ltd.
     481,319   3,223,585
CLP Holdings, Ltd.
     238,500   2,325,188
Henderson Land Development Co., Ltd.
     758,000   3,155,349
Link REIT
     311,700   2,666,688
New World Development Co., Ltd.
     1,029,500   4,186,937
Power Assets Holdings, Ltd.
     565,695   3,687,556
Sino Land Co., Ltd.
     2,718,000   3,526,174
Sun Hung Kai Properties, Ltd.
     260,500   3,113,466
          25,884,943
JAPAN — 11.9%          
Asahi Holdings, Inc.
     145,400   2,713,335
Daiwa Office Investment Corp. REIT
     429   2,675,617
Denka Co., Ltd.
     68,300   1,913,244
Electric Power Development Co., Ltd.
     230,900   3,325,341
ENEOS HoldingS, Inc.
     773,600   2,919,125
Fukuoka Financial Group, Inc. (a)
     138,800   2,714,819
Japan Metropolitan Fund Invest REIT
     3,484   2,956,556
Mitsubishi UFJ Financial Group, Inc.
     401,500   2,515,019
MS&AD Insurance Group Holdings, Inc.
     72,880   2,388,603
SBI Holdings, Inc. (a)
     81,600   2,084,119
Sumitomo Mitsui Trust Holdings, Inc. (a)
     63,100   2,080,026
Takeda Pharmaceutical Co., Ltd.
     119,600   3,446,845
Tokio Marine Holdings, Inc.
     34,500   2,026,084
          33,758,733
MEXICO — 1.0%          
Arca Continental SAB de CV
     426,759   2,894,351
NETHERLANDS — 0.8%          
Koninklijke Vopak NV
     69,025   2,255,636
NORWAY — 1.2%          
Telenor ASA
     239,527   3,472,101
PORTUGAL — 0.8%          
EDP - Energias de Portugal SA
     454,408   2,257,491
SINGAPORE — 0.9%          
Singapore Technologies Engineering, Ltd.
     876,500   2,668,327
 
See accompanying notes to financial statements.
111

SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
SOUTH KOREA — 1.3%          
KT&G Corp.
     55,931   $ 3,723,965
SPAIN — 1.8%          
Enagas SA
     221,134   4,957,803
SWEDEN — 1.1%          
Intrum AB
     110,583   3,024,616
SWITZERLAND — 8.0%          
Adecco Group AG (c)
     60,361   2,755,518
Baloise Holding AG
     13,309   2,387,738
Banque Cantonale Vaudoise
     32,791   2,857,743
Helvetia Holding AG
     19,971   2,619,397
Novartis AG
     25,545   2,255,400
Sulzer AG (a)
     27,768   2,320,412
Swiss Life Holding AG
     3,147   2,031,999
Swisscom AG (a)
     4,569   2,755,550
Zurich Insurance Group AG (c)
     5,588   2,773,810
          22,757,567
UNITED KINGDOM — 5.8%          
Ashmore Group PLC
     802,300   2,457,067
BAE Systems PLC
     327,370   3,092,223
IG Group Holdings PLC
     250,426   2,700,436
Legal & General Group PLC
     787,720   2,821,053
Primary Health Properties PLC REIT (a)
     1,259,947   2,460,163
Tate & Lyle PLC
     286,513   2,762,133
          16,293,075
UNITED STATES — 21.5%          
B&G Foods, Inc.
     117,142   3,160,491
Brandywine Realty Trust REIT
     256,727   3,630,120
GlaxoSmithKline PLC
     135,549   2,939,769
H&R Block, Inc.
     129,229   3,365,123
Healthcare Services Group, Inc.
     161,742   3,003,549
Highwoods Properties, Inc. REIT
     61,903   2,831,443
International Business Machines Corp.
     22,824   2,967,576
LTC Properties, Inc. REIT (a)
     115,752   4,452,979
LyondellBasell Industries NV Class A
     30,970   3,184,335
Mercury General Corp.
     49,198   2,705,890
Northwest Bancshares, Inc.
     211,382   2,855,771
NorthWestern Corp. (a)
     45,706   2,764,756
Philip Morris International, Inc.
     31,385   2,948,307
Pinnacle West Capital Corp.
     41,276   3,223,656
Security Description     Shares   Value
South Jersey Industries, Inc.
     116,362   $ 4,020,307
Universal Corp.
     61,904   3,594,765
Unum Group
     98,527   3,104,586
Verizon Communications, Inc.
     56,130   2,859,262
Western Union Co.
     175,548   3,289,770
          60,902,455
TOTAL COMMON STOCKS

(Cost $276,577,206)
         280,966,603
       
SHORT-TERM INVESTMENTS — 4.8%  
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (d)(e)
 281,460 281,432
State Street Navigator Securities Lending Portfolio II (f)(g)
 13,273,992 13,273,992
TOTAL SHORT-TERM INVESTMENTS

(Cost $13,555,408)
 13,555,424
TOTAL INVESTMENTS — 104.0%

(Cost $290,132,614)
 294,522,027
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.0)%
(11,356,711)
NET ASSETS — 100.0%
$ 283,165,316
(a) All or a portion of the shares of the security are on loan at March 31, 2022.
(b) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.0% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(c) Non-income producing security.
(d) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(e) The rate shown is the annualized seven-day yield at March 31, 2022.
(f) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(g) Investment of cash collateral for securities loaned.
REIT Real Estate Investment Trust
 
See accompanying notes to financial statements.
112

SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
See accompanying notes to financial statements.
113

SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
See accompanying notes to financial statements.
114

SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $280,966,603   $—   $—   $280,966,603
Short-Term Investments
   13,555,424   —   —   13,555,424
TOTAL INVESTMENTS
   $294,522,027   $—   $—   $294,522,027
Sector Breakdown as of March 31, 2022

    
    % of Net Assets
  Financials 24.4%
  Utilities 20.1
  Real Estate 17.1
  Consumer Staples 7.6
  Industrials 7.1
  Communication Services 6.3
  Energy 5.9
  Materials 4.3
  Health Care 3.0
  Information Technology 2.2
  Consumer Discretionary 1.2
  Short-Term Investments 4.8
  Liabilities in Excess of Other Assets (4.0)
  TOTAL 100.0%
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 509,225   $ 509,327   $ 9,073,125   $ 9,301,028   $ (8)   $16   281,460   $ 281,432   $ 92
State Street Navigator Securities Lending Portfolio II
 20,255,614   20,255,614   102,186,433   109,168,055   —   —   13,273,992   13,273,992   29,105
Total
     $20,764,941   $ 111,259,558   $ 118,469,083   $ (8)   $16       $13,555,424   $29,197
See accompanying notes to financial statements.
115

SPDR S&P GLOBAL INFRASTRUCTURE ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.7%        
AUSTRALIA — 8.7%          
Atlas Arteria, Ltd. Stapled Security
     1,913,825   $ 9,413,571
Qube Holdings, Ltd.
     3,831,970   9,006,941
Transurban Group Stapled Security
     2,476,615   25,200,472
          43,620,984
BRAZIL — 0.3%          
Cia de Saneamento Basico do Estado de Sao Paulo ADR
     69,516   683,342
Cia Energetica de Minas Gerais ADR
     229,358   738,533
          1,421,875
CANADA — 10.1%          
Enbridge, Inc. (a)
     533,127   24,563,836
Enbridge, Inc. (a)(b)
     828   38,163
Gibson Energy, Inc.
     42,155   844,079
Keyera Corp.
     63,476   1,610,467
Pembina Pipeline Corp.
     157,988   5,941,072
TC Energy Corp.
     281,662   15,900,074
Westshore Terminals Investment Corp.
     74,165   1,967,164
          50,864,855
CHINA — 5.4%          
Anhui Expressway Co., Ltd. Class H
     600,000   590,117
Beijing Capital International Airport Co., Ltd. Class H (c)
     3,262,000   1,911,865
CGN Power Co., Ltd. Class H (d)
     1,985,000   517,636
China Gas Holdings, Ltd.
     490,800   629,215
China Longyuan Power Group Corp., Ltd. Class H
     653,000   1,487,540
China Merchants Port Holdings Co., Ltd.
     2,719,431   4,930,909
China Power International Development, Ltd.
     1,037,000   553,604
China Resources Gas Group, Ltd.
     176,000   747,248
China Resources Power Holdings Co., Ltd.
     356,000   670,051
COSCO SHIPPING Ports, Ltd.
     3,308,000   2,576,653
Guangdong Investment, Ltd.
     582,000   796,670
Hainan Meilan International Airport Co., Ltd. Class H (b)(c)
     249,000   570,404
Jiangsu Expressway Co., Ltd. Class H
     2,438,000   2,552,749
Kunlun Energy Co., Ltd.
     792,000   690,727
Shenzhen Expressway Corp., Ltd. Class H
     1,388,000   1,462,191
Shenzhen International Holdings, Ltd.
     2,623,766   2,774,061
Security Description     Shares   Value
Yuexiu Transport Infrastructure, Ltd.
     1,870,000   $ 1,263,159
Zhejiang Expressway Co., Ltd. Class H (b)
     2,862,000   2,404,673
          27,129,472
DENMARK — 0.9%          
Orsted A/S (d)
     36,968   4,695,824
FRANCE — 5.8%          
Aeroports de Paris (c)
     51,347   7,769,851
Engie SA
     347,411   4,613,051
Gaztransport Et Technigaz SA
     7,347   832,464
Getlink SE
     867,092   15,769,168
          28,984,534
GERMANY — 3.2%          
E.ON SE
     438,743   5,146,262
Fraport AG Frankfurt Airport Services Worldwide (c)
     73,813   4,147,467
Hamburger Hafen und Logistik AG
     44,076   792,015
RWE AG
     132,147   5,812,230
          15,897,974
HONG KONG — 0.5%          
Hutchison Port Holdings Trust Stapled Security
     10,082,700   2,470,262
ITALY — 6.7%          
Atlantia SpA (c)
     1,005,245   21,139,388
Enav SpA (c)(d)
     508,121   2,374,516
Enel SpA
     1,509,953   10,194,541
          33,708,445
JAPAN — 1.8%          
Iwatani Corp.
     15,300   651,708
Japan Airport Terminal Co., Ltd. (b)(c)
     185,900   8,561,738
          9,213,446
MEXICO — 4.8%          
Grupo Aeroportuario del Centro Norte SAB de CV ADR
     67,947   4,055,757
Grupo Aeroportuario del Pacifico SAB de CV ADR (b)
     69,252   11,165,500
Grupo Aeroportuario del Sureste SAB de CV ADR
     39,232   8,693,811
          23,915,068
NETHERLANDS — 0.1%          
Koninklijke Vopak NV
     18,776   613,572
NEW ZEALAND — 2.6%          
Auckland International Airport, Ltd. (c)
     2,409,838   13,124,356
SINGAPORE — 0.2%          
SIA Engineering Co., Ltd. (c)
     515,200   967,312
SPAIN — 7.4%          
Aena SME SA (c)(d)
     146,677   24,651,391
 
See accompanying notes to financial statements.
116

SPDR S&P GLOBAL INFRASTRUCTURE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Security Description     Shares   Value
Iberdrola SA
     1,144,810   $ 12,635,830
          37,287,221
SWITZERLAND — 1.4%          
Flughafen Zurich AG (c)
     37,987   6,877,081
UNITED KINGDOM — 2.6%          
John Menzies PLC (c)
     167,212   1,316,555
National Grid PLC
     757,505   11,693,158
          13,009,713
UNITED STATES — 37.2%          
American Electric Power Co., Inc.
     98,458   9,823,154
American Water Works Co., Inc.
     35,489   5,874,494
Cheniere Energy, Inc.
     67,744   9,392,706
Consolidated Edison, Inc.
     69,160   6,548,069
Dominion Energy, Inc.
     158,250   13,446,502
DTE Midstream LLC (c)
     27,790   1,507,885
Duke Energy Corp.
     150,303   16,782,833
Equitrans Midstream Corp.
     116,741   985,294
Eversource Energy
     67,226   5,928,661
Exelon Corp.
     191,413   9,117,001
Kinder Morgan, Inc.
     560,025   10,590,073
NextEra Energy, Inc.
     290,394   24,599,276
ONEOK, Inc.
     128,009   9,041,276
Public Service Enterprise Group, Inc.
     98,813   6,916,910
Sempra Energy
     62,373   10,486,149
Southern Co.
     207,067   15,014,428
Targa Resources Corp.
     65,731   4,960,719
WEC Energy Group, Inc.
     61,593   6,147,597
Williams Cos., Inc.
     348,888   11,656,348
Xcel Energy, Inc.
     105,235   7,594,810
          186,414,185
TOTAL COMMON STOCKS

(Cost $444,094,434)
         500,216,179
    
Security Description     Shares   Value
SHORT-TERM INVESTMENTS — 0.6%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.31% (e)(f)
   1,685,652   $ 1,685,484
State Street Navigator Securities Lending Portfolio II (g)(h)
   1,242,406   1,242,406
TOTAL SHORT-TERM INVESTMENTS

(Cost $2,927,854)
   2,927,890  
TOTAL INVESTMENTS — 100.3%

(Cost $447,022,288)
   503,144,069  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.3)%
  (1,729,866)  
NET ASSETS — 100.0%
  $ 501,414,203  
(a) Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(b) All or a portion of the shares of the security are on loan at March 31, 2022.
(c) Non-income producing security.
(d) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 6.4% of net assets as of March 31, 2022, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(e) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(f) The rate shown is the annualized seven-day yield at March 31, 2022.
(g) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended March 31, 2022 are shown in the Affiliate Table below.
(h) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of March 31, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $500,216,179   $—   $—   $500,216,179
Short-Term Investments
   2,927,890   —   —   2,927,890
TOTAL INVESTMENTS
   $503,144,069   $—   $—   $503,144,069
 
See accompanying notes to financial statements.
117

SPDR S&P GLOBAL INFRASTRUCTURE ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)
Industry Breakdown as of March 31, 2022

    
    % of Net Assets
  Transportation Infrastructure 40.0%
  Electric Utilities 23.3
  Oil, Gas & Consumable Fuels 19.8
  Multi-Utilities 14.1
  Water Utilities 1.5
  Independent Power and Renewable Electricity Producers 0.6
  Gas Utilities 0.4
  Short-Term Investments 0.6
  Liabilities in Excess of Other Assets (0.3)
  TOTAL 100.0%
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
Affiliate Table
  Number of
Shares Held
at
9/30/21 		  Value at

9/30/21 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
3/31/22 		  Value at

3/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 1,231,181   $1,231,427   $13,725,881   $13,271,754   $(107)   $37   1,685,652   $1,685,484   $ 346
State Street Navigator Securities Lending Portfolio II
 1,975,156   1,975,156   24,844,845   25,577,595   —   —   1,242,406   1,242,406   5,114
Total
     $3,206,583   $38,570,726   $38,849,349   $(107)   $37       $2,927,890   $5,460
See accompanying notes to financial statements.
118

[This Page Intentionally Left Blank]
119

SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
March 31, 2022 (Unaudited)
  SPDR MSCI ACWI Climate Paris Aligned ETF   SPDR MSCI EAFE Fossil Fuel Reserves Free ETF   SPDR MSCI EAFE StrategicFactors ETF   SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
ASSETS              
Investments in unaffiliated issuers, at value*
 $112,150,592   $253,778,497   $846,640,418   $124,376,381
Investments in affiliated issuers, at value
 2,583,443   8,158,416   18,922,870   1,484,134
Total Investments
 114,734,035   261,936,913   865,563,288   125,860,515
Foreign currency, at value
 302,757   636,885   3,315,403   1,262,578
Receivable for investments sold
 3,114   —   —   176,453
Dividends receivable — unaffiliated issuers
 190,950   1,049,333   4,126,207   383,403
Dividends receivable — affiliated issuers
 361   15   34   1
Securities lending income receivable — unaffiliated issuers
 267   713   2,807   826
Securities lending income receivable — affiliated issuers  
 1,047   2,325   6,164   294
Receivable for foreign taxes recoverable
 61,381   317,287   1,334,035   1,216
Other Receivable
 1,384   1,382   —   1,382
TOTAL ASSETS
115,295,296   263,944,853   874,347,938   127,686,668
LIABILITIES              
Due to custodian
 —   —   —   1,118,678
Payable upon return of securities loaned
 2,369,493   8,138,158   18,583,446   1,484,134
Payable for investments purchased
 18,761   —   —   11,229
Payable for fund shares repurchased
 —   —   —   —
Deferred foreign taxes payable
 25,208   —   —   414,859
Advisory fee payable
 18,568   44,289   214,058   32,704
Accrued expenses and other liabilities
 —   —   —   1,281
TOTAL LIABILITIES
2,432,030   8,182,447   18,797,504   3,062,885
NET ASSETS
$112,863,266   $255,762,406   $855,550,434   $124,623,783
NET ASSETS CONSIST OF:              
Paid-in Capital
 $ 89,420,824   $247,959,690   $869,913,199   $124,369,542
Total distributable earnings (loss)**
 23,442,442   7,802,716   (14,362,765)   254,241
NET ASSETS
$112,863,266   $255,762,406   $855,550,434   $124,623,783
NET ASSET VALUE PER SHARE              
Net asset value per share
 $ 125.40   $ 77.50   $ 72.81   $ 69.24
Shares outstanding (unlimited amount authorized, $0.01 par value)
 900,000   3,300,000   11,750,000   1,800,000
COST OF INVESTMENTS:              
Investments in unaffiliated issuers
 $ 85,235,340   $242,086,373   $833,496,893   $ 115,860,794
Investments in affiliated issuers
 2,579,089   8,158,412   18,922,807   1,484,134
Total cost of investments
 $ 87,814,429   $250,244,785   $852,419,700   $ 117,344,928
Foreign currency, at cost
 $ 301,080   $ 632,951   $ 3,308,507   $ 1,263,790
* Includes investments in securities on loan, at value
 $ 3,021,110   $ 11,363,476   $ 36,922,507   $ 2,590,645
**  Includes deferred foreign taxes
 $ 25,208   $ —   $ —   $ 385,881
See accompanying notes to financial statements.
120

SPDR MSCI Emerging Markets StrategicFactors ETF   SPDR MSCI World StrategicFactors ETF   SPDR S&P Emerging Asia Pacific ETF   SPDR S&P Global Dividend ETF   SPDR S&P Global Infrastructure ETF
                 
$74,219,729   $63,279,128   $480,194,486   $280,966,603   $500,216,179
966,026   803,015   5,867,119   13,555,424   2,927,890
75,185,755   64,082,143   486,061,605   294,522,027   503,144,069
205,857   86,990   914,039   608,692   1,174,200
26,780   —   —   4,416,902   31,916,182
170,109   134,619   598,617   1,547,267   605,495
97   111   —   33   174
956   95   6,752   2,520   476
357   313   10,026   5,656   786
—   25,313   —   163,855   48,680
—   —   —   —   —
75,589,911   64,329,584   487,591,039   301,266,952   536,890,062
                 
—   —   —   —   —
715,635   737,952   5,846,325   13,273,992   1,242,406
—   11,835   —   4,734,655   13,664,529
—   —   —   —   20,407,048
381,938   —   2,660,057   —   —
18,666   15,701   198,194   92,989   161,876
—   —   —   —   —
1,116,239   765,488   8,704,576   18,101,636   35,475,859
$74,473,672   $63,564,096   $478,886,463   $283,165,316   $501,414,203
                 
$75,899,321   $51,681,665   $488,279,681   $356,662,130   $488,486,419
(1,425,649)   11,882,431   (9,393,218)   (73,496,814)   12,927,784
$74,473,672   $63,564,096   $478,886,463   $283,165,316   $501,414,203
                 
$ 64.76   $ 105.94   $ 111.37   $ 67.82   $ 58.30
1,150,000   600,000   4,300,000   4,175,000   8,600,000
                 
$62,930,385   $50,644,443   $409,429,138   $276,577,206   $444,094,434
966,009   799,882   5,867,118   13,555,408   2,927,854
$63,896,394   $51,444,325   $415,296,256   $290,132,614   $447,022,288
$ 209,350   $ 86,229   $ 922,423   $ 608,761   $ 1,174,219
$ 1,178,484   $ 1,334,908   $ 12,562,778   $ 19,937,547   $ 3,132,648
$ 372,241   $ —   $ 2,602,042   $ —   $ —
121

SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS
For the Six Months Ended March 31, 2022 (Unaudited)
  SPDR MSCI ACWI Climate Paris Aligned ETF   SPDR MSCI EAFE Fossil Fuel Reserves Free ETF   SPDR MSCI EAFE StrategicFactors ETF   SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
INVESTMENT INCOME              
Dividend income — unaffiliated issuers
 $1,075,443   $ 3,153,488   $ 11,969,941   $ 1,390,817
Dividend income — affiliated issuers
 738   108   265   33
Unaffiliated securities lending income
 1,639   8,484   20,693   4,946
Affiliated securities lending income
 4,831   7,873   22,338   2,322
Foreign taxes withheld
 (57,936)   (271,610)   (958,770)   (148,800)
TOTAL INVESTMENT INCOME (LOSS)
 1,024,715   2,898,343   11,054,467   1,249,318
EXPENSES              
Advisory fee
 114,956   262,718   1,306,074   224,554
Trustees’ fees and expenses  
 555   1,191   3,958   813
Miscellaneous expenses
 —   3   10   —
TOTAL EXPENSES
 115,511   263,912   1,310,042   225,367
NET INVESTMENT INCOME (LOSS)
 $ 909,204   $ 2,634,431   $ 9,744,425   $ 1,023,951
REALIZED AND UNREALIZED GAIN (LOSS)              
Net realized gain (loss) on:              
Investments — unaffiliated issuers*
 (250,633)   (992,549)   (8,571,859)   (1,083,255)
Investments — affiliated issuers
 (49)   (115)   (524)   (41)
In-kind redemptions — unaffiliated issuers
 —   6,029,534   31,492,234   2,551,261
Foreign currency transactions
 (16,435)   (16,933)   (54,222)   (11,829)
Net realized gain (loss)
 (267,117)   5,019,937   22,865,629   1,456,136
Net change in unrealized appreciation/depreciation on:              
Investments — unaffiliated issuers**
 289,802   (23,164,189)   (57,580,276)   (12,452,053)
Investments — affiliated issuers
 1,478   4   63   —
Foreign currency translations
 6,610   4,812   38,686   3,685
Net change in unrealized appreciation/depreciation
 297,890   (23,159,373)   (57,541,527)   (12,448,368)
NET REALIZED AND UNREALIZED GAIN (LOSS)
 30,773   (18,139,436)   (34,675,898)   (10,992,232)
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
 $ 939,977   $(15,505,005)   $(24,931,473)   $ (9,968,281)
* Includes foreign capital gain taxes
 $ —   $ —   $ —   $ (141,491)
** Includes foreign deferred taxes
 $ (25,208)   $ —   $ —   $ (385,881)
See accompanying notes to financial statements.
122

SPDR MSCI Emerging Markets StrategicFactors ETF   SPDR MSCI World StrategicFactors ETF   SPDR S&P Emerging Asia Pacific ETF   SPDR S&P Global Dividend ETF   SPDR S&P Global Infrastructure ETF
                 
$ 970,640   $ 588,043   $ 2,849,969   $ 6,243,626   $ 6,447,255
139   192   116   92   346
5,497   552   68,586   14,574   3,834
1,722   1,134   74,554   29,105   5,114
(89,579)   (31,301)   (287,477)   (468,574)   (366,177)
888,419   558,620   2,705,748   5,818,823   6,090,372
                 
119,199   82,548   1,359,693   600,308   916,584
369   256   3,009   1,516   2,126
1   1   8   4   5
119,569   82,805   1,362,710   601,828   918,715
$ 768,850   $ 475,815   $ 1,343,038   $ 5,216,995   $ 5,171,657
                 
                 
1,569,267   52,228   7,290,331   (3,977,809)   1,747,520
(63)   (64)   (34)   (8)   (107)
137,581   —   11,658,959   11,087,879   6,277,757
(20,215)   (5,390)   (85,136)   (26,208)   20,835
1,686,570   46,774   18,864,120   7,083,854   8,046,005
                 
(4,681,256)   1,719,550   (67,097,140)   1,960,315   40,397,803
17   351   1   16   37
(416)   2,768   14,204   (3,884)   1,422
(4,681,655)   1,722,669   (67,082,935)   1,956,447   40,399,262
(2,995,085)   1,769,443   (48,218,815)   9,040,301   48,445,267
$(2,226,235)   $2,245,258   $(46,875,777)   $14,257,296   $53,616,924
$ (70,913)   $ —   $ (419,811)   $ —   $ —
$ (372,241)   $ —   $ (2,602,042)   $ —   $ —
123

SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS
  SPDR MSCI ACWI Climate Paris Aligned ETF   SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21 		  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:              
Net investment income (loss)
 $ 909,204   $ 1,710,570   $ 2,634,431   $ 5,163,044
Net realized gain (loss)
 (267,117)   (55,426)   5,019,937   (1,105,498)
Net change in unrealized appreciation/depreciation
 297,890   19,102,101   (23,159,373)   30,654,297
Net increase (decrease) in net assets resulting from operations
 939,977   20,757,245   (15,505,005)   34,711,843
Net equalization credits and charges
 —   62,485   266,128   372,446
Distributions to shareholders
 (1,100,403)   (1,561,917)   (3,495,693)   (4,204,041)
FROM BENEFICIAL INTEREST TRANSACTIONS:              
Proceeds from shares sold
 —   23,585,589   49,763,814   87,507,991
Cost of shares redeemed
 —   —   (15,242,953)   —
Net income equalization
 —   (62,485)   (266,128)   (372,446)
Other Capital
 —   3,280   1,720   3,920
Net increase (decrease) in net assets from beneficial interest transactions
—   23,526,384   34,256,453   87,139,465
Net increase (decrease) in net assets during the period
 (160,426)   42,784,197   15,521,883   118,019,713
Net assets at beginning of period
 113,023,692   70,239,495   240,240,523   122,220,810
NET ASSETS AT END OF PERIOD
 $112,863,266   $113,023,692   $255,762,406   $240,240,523
SHARES OF BENEFICIAL INTEREST:              
Shares sold
 —   200,000   600,000   1,100,000
Shares redeemed
 —   —   (200,000)   —
Net increase (decrease)
 —   200,000   400,000   1,100,000
See accompanying notes to financial statements.
124

SPDR MSCI EAFE StrategicFactors ETF   SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF   SPDR MSCI Emerging Markets StrategicFactors ETF
Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21 		  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21 		  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21
                     
$ 9,744,425   $ 16,494,753   $ 1,023,951   $ 2,619,298   $ 768,850   $ 2,387,438
22,865,629   10,800,159   1,456,136   (2,199,531)   1,686,570   18,467,369
(57,541,527)   81,850,727   (12,448,368)   12,381,945   (4,681,655)   9,352,187
(24,931,473)   109,145,639   (9,968,281)   12,801,712   (2,226,235)   30,206,994
—   —   (331,029)   132,261   —   —
(10,569,596)   (12,721,219)   (1,745,971)   (1,966,546)   (1,476,533)   (3,192,661)
                     
182,847,598   381,766,680   —   66,431,455   —   8,176,408
(102,464,472)   (53,404,749)   (36,031,559)   —   (3,438,274)   (101,900,639)
—   —   331,029   (132,261)   —   —
6,770   22,874   51,096   56,660   4,951   154,288
80,389,896   328,384,805   (35,649,434)   66,355,854   (3,433,323)   (93,569,943)
44,888,827   424,809,225   (47,694,715)   77,323,281   (7,136,091)   (66,555,610)
810,661,607   385,852,382   172,318,498   94,995,217   81,609,763   148,165,373
$ 855,550,434   $810,661,607   $124,623,783   $172,318,498   $74,473,672   $ 81,609,763
                     
2,400,000   5,200,000   —   850,000   —   125,000
(1,400,000)   (700,000)   (500,000)   —   (50,000)   (1,550,000)
1,000,000   4,500,000   (500,000)   850,000   (50,000)   (1,425,000)
125

SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS  (continued)
  SPDR MSCI World StrategicFactors ETF   SPDR S&P Emerging Asia Pacific ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21 		  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:              
Net investment income (loss)
 $ 475,815   $ 917,284   $ 1,343,038   $ 9,157,742
Net realized gain (loss)
 46,774   (355,974)   18,864,120   40,044,020
Net change in unrealized appreciation/depreciation
 1,722,669   10,301,943   (67,082,935)   31,256,196
Net increase (decrease) in net assets resulting from operations
 2,245,258   10,863,253   (46,875,777)   80,457,958
Distributions to shareholders
 (515,719)   (852,653)   (12,236,697)   (8,793,546)
FROM BENEFICIAL INTEREST TRANSACTIONS:              
Proceeds from shares sold
 10,082,443   —   —   141,771,150
Cost of shares redeemed
 —   —   (61,508,468)   (154,728,400)
Other Capital
 397   —   60,247   300,832
Net increase (decrease) in net assets from beneficial interest transactions
10,082,840   —   (61,448,221)   (12,656,418)
Net increase (decrease) in net assets during the period
 11,812,379   10,010,600   (120,560,695)   59,007,994
Net assets at beginning of period
 51,751,717   41,741,117   599,447,158   540,439,164
NET ASSETS AT END OF PERIOD
 $63,564,096   $51,751,717   $ 478,886,463   $ 599,447,158
SHARES OF BENEFICIAL INTEREST:              
Shares sold
 100,000   —   —   1,100,000
Shares redeemed
 —   —   (500,000)   (1,200,000)
Net increase (decrease)
 100,000   —   (500,000)   (100,000)
See accompanying notes to financial statements.
126

SPDR S&P Global Dividend ETF   SPDR S&P Global Infrastructure ETF
Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21 		  Six Months
Ended
3/31/22
(Unaudited) 		  Year Ended
9/30/21
             
$ 5,216,995   $ 11,042,411   $ 5,171,657   $ 11,426,111
7,083,854   (12,871,041)   8,046,005   11,864,288
1,956,447   48,485,639   40,399,262   52,281,419
14,257,296   46,657,009   53,616,924   75,571,818
(5,655,125)   (12,296,553)   (7,040,250)   (9,381,722)
             
44,750,880   192,505,421   36,430,707   123,527,103
(93,197,824)   (116,376,672)   (20,407,048)   (91,954,021)
12,369   46,967   965   4,699
(48,434,575)   76,175,716   16,024,624   31,577,781
(39,832,404)   110,536,172   62,601,298   97,767,877
322,997,720   212,461,548   438,812,905   341,045,028
$283,165,316   $ 322,997,720   $501,414,203   $438,812,905
             
675,000   2,925,000   650,000   2,400,000
(1,400,000)   (2,025,000)   (350,000)   (1,800,000)
(725,000)   900,000   300,000   600,000
127

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
  SPDR MSCI ACWI Climate Paris Aligned ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $ 125.58   $ 100.34   $ 92.04   $ 92.20   $ 86.02   $ 74.37
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 1.01   2.11   1.84   2.09   1.96   1.82
Net realized and unrealized gain (loss) (c)
 0.03   25.02   8.49   (0.25)   6.04   11.37
Total from investment operations
 1.04   27.13   10.33   1.84   8.00   13.19
Net equalization credits and charges (b)
 —   0.08   (0.11)   0.03   0.01   0.17
Other capital
 —   0.00(d)   0.01   0.00(d)   —   —
Distributions to shareholders from:                      
Net investment income
 (1.22)   (1.97)   (1.93)   (2.03)   (1.83)   (1.71)
Net asset value, end of period
 $ 125.40   $ 125.58   $100.34   $ 92.04   $ 92.20   $ 86.02
Total return (e)
 0.78%   27.23%   11.18%   2.25%   9.36%   18.16%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $112,863   $113,024   $70,239   $82,838   $165,962   $146,234
Ratios to average net assets:                      
Total expenses
 0.20%(f)   0.24%   0.30%   0.30%   0.30%   0.30%
Net expenses
 0.20%(f)   0.20%   0.20%   0.20%   0.20%   0.20%
Net investment income (loss)
 1.58%(f)   1.75%   1.95%   2.39%   2.17%   2.28%
Portfolio turnover rate (g)
 5%(h)   10%   10%   15%   17%   12%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
128

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  For the
Period
10/25/16*-
9/30/17(a)
Net asset value, beginning of period
 $ 82.84   $ 67.90   $ 67.34   $ 69.94   $ 70.74   $ 60.00
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.81   2.15   1.52   1.95   2.10   1.72
Net realized and unrealized gain (loss) (c)
 (5.17)   14.40   0.28   (2.68)   (1.07)   10.56
Total from investment operations
 (4.36)   16.55   1.80   (0.73)   1.03   12.28
Net equalization credits and charges (b)
 0.08   0.16   0.13   0.06   0.04   0.02
Other capital
 0.00(d)   0.00(d)   0.00(d)   —   —   —
Distributions to shareholders from:                      
Net investment income
 (1.06)   (1.77)   (1.37)   (1.93)   (1.62)   (1.56)
Net realized gains
 —   —   —   —   (0.25)   —
Total distributions
 (1.06)   (1.77)   (1.37)   (1.93)   (1.87)   (1.56)
Net asset value, end of period
 $ 77.50   $ 82.84   $ 67.90   $ 67.34   $ 69.94   $ 70.74
Total return (e)
 (5.25)%   24.65%   2.83%   (0.79)%   1.48%   20.89%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $255,762   $240,241   $122,221   $84,177   $76,937   $45,980
Ratios to average net assets:                      
Total expenses
 0.20%(f)   0.24%   0.30%   0.30%   0.30%   0.30%(f)
Net expenses
 0.20%(f)   0.20%   0.20%   0.20%   0.20%   0.20%(f)
Net investment income (loss)
 2.01%(f)   2.66%   2.30%   2.97%   2.93%   2.83%(f)
Portfolio turnover rate (g)
 8%(h)   6%   7%   6%   5%   9%(h)
* Commencement of operations.
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
129

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR MSCI EAFE StrategicFactors ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $ 75.41   $ 61.74   $ 62.85   $ 64.08   $ 63.16   $ 55.43
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.83   1.94   1.43   1.84   1.85   1.90
Net realized and unrealized gain (loss) (c)
 (2.54)   13.19   (0.94)   (1.08)   0.64   6.86
Total from investment operations
 (1.71)   15.13   0.49   0.76   2.49   8.76
Other capital
 0.00(d)   0.00(d)   0.00(d)   0.00(d)   0.00(d)   —
Distributions to shareholders from:                      
Net investment income
 (0.89)   (1.46)   (1.60)   (1.99)   (1.57)   (1.03)
Net asset value, end of period
 $ 72.81   $ 75.41   $ 61.74   $ 62.85   $ 64.08   $ 63.16
Total return (e)
 (2.32)%   24.57%   0.69%   1.39%   3.95%   15.92%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $855,550   $810,662   $385,852   $320,538   $265,941   $192,644
Ratios to average net assets:                      
Total expenses
 0.30%(f)   0.30%   0.30%   0.30%   0.30%   0.30%
Net investment income (loss)
 2.24%(f)   2.65%   2.32%   3.02%   2.87%   3.20%
Portfolio turnover rate (g)
 6%(h)   13%   14%   12%   6%   9%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
130

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  For the
Period
10/25/16*-
9/30/17(a)
Net asset value, beginning of period
 $ 74.92   $ 65.51   $ 59.77   $ 62.72   $ 65.27   $ 55.00
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.50   1.32   1.15   2.15(c)   1.42   1.38
Net realized and unrealized gain (loss) (d)
 (5.12)   9.09   5.98   (4.16)   (3.17)   9.81
Total from investment operations
 (4.62)   10.41   7.13   (2.01)   (1.75)   11.19
Net equalization credits and charges (b)
 (0.16)   0.07   0.32   0.27   0.25   0.17
Other capital
 0.02   0.03   0.03   0.05   0.01   0.03
Distributions to shareholders from:                      
Net investment income
 (0.92)   (1.10)   (1.74)   (1.26)   (0.62)   (1.12)
Net realized gains
 —   —   —   —   (0.44)   —
Total distributions
 (0.92)   (1.10)   (1.74)   (1.26)   (1.06)   (1.12)
Net asset value, end of period
 $ 69.24   $ 74.92   $ 65.51   $ 59.77   $ 62.72   $ 65.27
Total return (e)
 (6.42)%   16.00%   12.59%   (2.62)%(c)   (2.41)%   21.02%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $124,624   $172,318   $94,995   $71,720   $31,358   $16,318
Ratios to average net assets:                      
Total expenses
 0.30%(f)   0.30%   0.30%   0.30%   0.30%   0.30%(f)
Net investment income (loss)
 1.37%(f)   1.69%   1.88%   3.54%(c)   2.10%   2.44%(f)
Portfolio turnover rate (g)
 1%(h)   11%   17%   7%   8%   2%(h)
* Commencement of operations.
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividend from portfolio holding. The resulting increase to net investment income amounted to $0.68 per share and 1.13% of average net assets. If the special dividends were not received during the year ended September 30, 2019, the total return would have been (3.73%).
(d) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
131

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR MSCI Emerging Markets StrategicFactors ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $ 68.01   $ 56.44   $ 57.51   $ 59.60   $ 60.69   $ 53.58
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.65   1.39   1.39   1.63   1.53   1.40
Net realized and unrealized gain (loss) (c)
 (2.67)   11.58   (0.70)   (2.02)   (1.35)   6.69
Total from investment operations
 (2.02)   12.97   0.69   (0.39)   0.18   8.09
Other capital
 0.00(d)   0.09   0.05   0.01   0.04   0.01
Distributions to shareholders from:                      
Net investment income
 (1.23)   (1.49)   (1.81)   (1.71)   (1.31)   (0.99)
Net asset value, end of period
 $ 64.76   $ 68.01   $ 56.44   $ 57.51   $ 59.60   $ 60.69
Total return (e)
 (3.04)%   23.25%   1.18%   (0.52)%   0.23%   15.39%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $74,474   $81,610   $148,165   $268,867   $266,725   $213,945
Ratios to average net assets:                      
Total expenses
 0.30%(f)   0.30%   0.30%   0.30%   0.30%   0.30%
Net investment income (loss)
 1.94%(f)   2.10%   2.50%   2.84%   2.44%   2.50%
Portfolio turnover rate (g)
 11%(h)   26%   23%   23%   30%   17%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
132

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR MSCI World StrategicFactors ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $103.50   $ 83.48   $ 80.58   $ 78.67   $ 72.02   $ 63.75
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.92   1.83   1.67   1.61   1.61   1.58
Net realized and unrealized gain (loss) (c)
 2.55   19.90   3.07   2.10   6.89   8.20
Total from investment operations
 3.47   21.73   4.74   3.71   8.50   9.78
Other capital
 0.00(d)   —   0.00(d)   0.00(d)   —   —
Distributions to shareholders from:                      
Net investment income
 (1.03)   (1.71)   (1.84)   (1.80)   (1.48)   (1.51)
Net realized gains
 —   —   —   —   (0.37)   —
Total distributions
 (1.03)   (1.71)   (1.84)   (1.80)   (1.85)   (1.51)
Net asset value, end of period
 $105.94   $103.50   $ 83.48   $ 80.58   $ 78.67   $ 72.02
Total return (e)
 3.31%   26.15%   5.87%   4.99%   11.93%   15.53%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $63,564   $51,752   $41,741   $24,175   $31,468   $21,606
Ratios to average net assets:                      
Total expenses
 0.30%(f)   0.30%   0.30%   0.30%   0.30%   0.30%
Net investment income (loss)
 1.73%(f)   1.88%   2.05%   2.13%   2.13%   2.32%
Portfolio turnover rate (g)
 6%(h)   25%   18%   14%   18%   12%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
133

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR S&P Emerging Asia Pacific ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $ 124.88   $ 110.29   $ 93.67   $ 97.31   $ 98.49   $ 81.92
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.29   1.69   1.66   1.89   1.93   1.71
Net realized and unrealized gain (loss) (c)
 (11.09)   14.53   16.72   (3.50)   (1.22)   16.67
Total from investment operations
 (10.80)   16.22   18.38   (1.61)   0.71   18.38
Other capital
 0.01   0.06   0.03   0.02   0.01   0.00(d)
Distributions to shareholders from:                      
Net investment income
 (2.72)   (1.69)   (1.79)   (2.05)   (1.90)   (1.81)
Net asset value, end of period
 $ 111.37   $ 124.88   $ 110.29   $ 93.67   $ 97.31   $ 98.49
Total return (e)
 (8.82)%   14.73%   19.82%   (1.56)%   0.63%   23.02%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $478,886   $599,447   $540,439   $440,267   $437,903   $413,653
Ratios to average net assets:                      
Total expenses
 0.49%(f)   0.49%   0.49%   0.49%   0.49%   0.49%
Net investment income (loss)
 0.48%(f)   1.31%   1.67%   2.01%   1.86%   1.98%
Portfolio turnover rate (g)
 0%(h)(i)   17%   8%   14%   5%   4%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Amount is less than 0.005%.
(i) Not annualized.
See accompanying notes to financial statements.
134

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR S&P Global Dividend ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $ 65.92   $ 53.12   $ 67.49   $ 68.01   $ 67.64   $ 63.21
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 1.16   2.90   2.72   2.85   2.84   2.44
Net realized and unrealized gain (loss) (c)
 2.03   13.07   (14.24)   (0.34)   (0.04)   4.19
Total from investment operations
 3.19   15.97   (11.52)   2.51   2.80   6.63
Net equalization credits and charges (b)
 —   —   —   0.04   0.06   0.10
Other capital
 0.00(d)   0.01   0.00(d)   0.00(d)   0.00(d)   —
Distributions to shareholders from:                      
Net investment income
 (1.29)   (3.18)   (2.85)   (3.07)   (2.49)   (2.30)
Net asset value, end of period
 $ 67.82   $ 65.92   $ 53.12   $ 67.49   $ 68.01   $ 67.64
Total return (e)
 4.90%   30.37%   (17.21)%   3.98%   4.23%   10.83%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $283,165   $322,998   $212,462   $276,689   $207,417   $165,725
Ratios to average net assets:                      
Total expenses
 0.40%(f)   0.40%   0.40%   0.40%   0.40%   0.40%
Net investment income (loss)
 3.48%(f)   4.46%   4.54%   4.31%   4.12%   3.76%
Portfolio turnover rate (g)
 40%(h)   49%   82%   53%   39%   47%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
135

SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS  (continued)
Selected data for a share outstanding throughout each period
  SPDR S&P Global Infrastructure ETF
  Six Months
Ended
3/31/22
(Unaudited) 		  Year
Ended
9/30/21 		  Year
Ended
9/30/20 		  Year
Ended
9/30/19(a) 		  Year
Ended
9/30/18(a) 		  Year
Ended
9/30/17(a)
Net asset value, beginning of period
 $ 52.87   $ 44.29   $ 53.31   $ 48.50   $ 51.82   $ 47.69
Income (loss) from investment operations:                      
Net investment income (loss) (b)
 0.61   1.46   1.48   1.86   1.81   1.73
Net realized and unrealized gain (loss) (c)
 5.64   8.36   (8.96)   4.63   (3.55)   4.03
Total from investment operations
 6.25   9.82   (7.48)   6.49   (1.74)   5.76
Other capital
 0.00(d)   0.00(d)   0.00(d)   0.00(d)   0.00(d)   —
Distributions to shareholders from:                      
Net investment income
 (0.82)   (1.24)   (1.54)   (1.68)   (1.58)   (1.63)
Net asset value, end of period
 $ 58.30   $ 52.87   $ 44.29   $ 53.31   $ 48.50   $ 51.82
Total return (e)
 11.97%   22.28%   (14.46)%   13.76%   (3.43)%   12.35%
Ratios and Supplemental Data:                      
Net assets, end of period (in 000s)
 $501,414   $438,813   $341,045   $399,823   $252,209   $181,377
Ratios to average net assets:                      
Total expenses
 0.40%(f)   0.40%   0.40%   0.40%   0.40%   0.40%
Net investment income (loss)
 2.26%(f)   2.84%   3.07%   3.69%   3.61%   3.54%
Portfolio turnover rate (g)
 6%(h)   14%   15%   14%   21%   22%
(a) Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period.
(c) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d) Amount is less than $0.005 per share.
(e) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f) Annualized.
(g) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.
(h) Not annualized.
See accompanying notes to financial statements.
136

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS
March 31, 2022 (Unaudited)
1.    Organization
SPDR Index Shares Funds (the “Trust”), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end management investment company.
As of March 31, 2022, the Trust consists of twenty-six (26) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the “Board”) to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a “Fund”, and collectively, the “Funds”):
SPDR MSCI ACWI Climate Paris Aligned ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI EAFE StrategicFactors ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactors ETF
SPDR MSCI World StrategicFactors ETF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Global Dividend ETF
SPDR S&P Global Infrastructure ETF
Each Fund is classified as a diversified investment company under the 1940 Act, with the exceptions of SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF and SPDR S&P Emerging Asia Pacific ETF which are each a non-diversified investment company.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.
2.    Summary of Significant Accounting Policies
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.
Security Valuation
Each Fund's investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for overseeing the determination of the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
•  Equity investments (including registered investment companies that are exchange-traded funds) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value.
•  Rights and warrants are valued at the last reported sale price obtained from independent pricing services or brokers on the valuation date. If no price is obtained from pricing services or brokers, valuation will be based upon the intrinsic value, pursuant to the valuation policy and procedures approved by the Board.
137

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
•   Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit.
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
Fair value pricing could result in a difference between the prices used to calculate a Fund's NAV and the prices used by the Funds' underlying benchmarks. Various inputs are used in determining the value of the Funds' investments.
The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.
The three levels of the fair value hierarchy are as follows:
•  Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability;
•   Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and
•   Level 3 – Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments.
The value of each Fund’s investments according to the fair value hierarchy as of March 31, 2022, is disclosed in each Fund’s respective Schedule of Investments.
Investment Transactions and Income Recognition
Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.
Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, or when the information becomes available, net of any foreign taxes withheld at source, if any. Non-cash dividends received in the form of stock, if any, are recorded as dividend income at fair value.
Certain Funds invest in real estate investment trusts (“REITs”). REITs determine the tax character of their distributions annually and may characterize a portion of their distributions as a return of capital or capital gain. The Funds' policy is to record all REIT distributions initially as dividend income and re-designate a portion to return of capital or capital gain distributions at year end based on information provided by the REIT and/or SSGA Funds Management, Inc.'s (the “Adviser” or “SSGA FM”) estimates of such re-designations for which actual information has not yet been reported.
Expenses
Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.
138

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
Foreign Currency Translation
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Foreign Taxes
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM's understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred as of March 31, 2022, if any, are disclosed in the Funds' Statements of Assets and Liabilities.
Equalization
Certain Funds in the Trust follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.
The following Funds utilized equalization during the period ended March 31, 2022:
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
Distributions
The following Fund declares and distributes from net investment income, if any, to its shareholders quarterly:
SPDR S&P Global Dividend ETF
The following Funds declare and distribute from net investment income, if any, to their shareholders semi-annually:
SPDR MSCI ACWI Climate Paris Aligned ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI EAFE StrategicFactors ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactors ETF
SPDR MSCI World StrategicFactors ETF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Global Infrastructure ETF
Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve Index tracking or to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (“Internal Revenue Code”). The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.
139

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
3.    Fees and Transactions with Affiliates
Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement with SSGA FM. For its advisory services to the Funds, facilities furnished and expenses borne by the Adviser, each Fund pays the Adviser a fee (“Management/Advisory fee”) accrued daily and paid monthly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
  Annual Rate
SPDR MSCI ACWI Climate Paris Aligned ETF
 0.20%
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
 0.20
SPDR MSCI EAFE StrategicFactors ETF
 0.30
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
 0.30
SPDR MSCI Emerging Markets StrategicFactors ETF
 0.30
SPDR MSCI World StrategicFactors ETF
 0.30
SPDR S&P Emerging Asia Pacific ETF
 0.49
SPDR S&P Global Dividend ETF
 0.40
SPDR S&P Global Infrastructure ETF
 0.40
From time to time, the Adviser may waive all or a portion of its Management fee. The Adviser has contractually agreed to waive a portion of its Management fee and/or reimburse expenses in an amount equal to any acquired fund fees and expenses (excluding holdings in acquired funds for cash management purposes, if any) for each Fund until January 31, 2023. This waiver and/or reimbursement does not provide for the recoupment by the Adviser of any amounts waived or reimbursed. This waiver and/or reimbursement may not be terminated prior to January 31, 2023 except with the approval of the Funds’ Board of Trustees.
The Adviser pays all expenses of each Fund other than the Management fee, brokerage expenses, taxes, interest, fees and expenses of the Trust’s trustees, who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”) (including any Trustee’s counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.
Administrator, Custodian, Sub-Administrator and Transfer Agent Fees
SSGA FM serves as administrator and State Street Bank & Trust Company (“State Street”), an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.
Distributor
State Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”), an affiliate of the Adviser, serves as the distributor of the Trust.
Other Transactions with Affiliates - Securities Lending
State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to a Master Amended and Restated Securities Lending Authorization Agreement dated January 6, 2017, as amended.
Effective January 1, 2022 net proceeds collected by State Street on investment of cash collateral or any fee income less rebates payable to borrowers, are paid as follows: If the calendar year to date net proceeds are below a specified threshold across SPDR ETFs, each Fund retains eighty five percent (85%) of the net proceeds and fifteen percent (15%) of such net proceeds is payable to State Street. Starting the business day following the date that calendar year to date net proceeds exceeds a specified threshold, each Fund retains ninety percent (90%) of the net proceeds and ten percent (10%) of such net proceeds is payable to State Street. Prior to January 1, 2022, net proceeds were 85% payable to the Funds and 15% payable to State Street.
In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Portfolio II, an affiliated money market fund, for which SSGA FM serves as investment adviser. See Note 8 for additional information regarding securities lending.
140

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
Other Transactions with Affiliates
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity’s voting securities or outstanding shares. Amounts relating to these transactions during the period ended March 31, 2022 are disclosed in the Schedules of Investments.
Due to Custodian
In certain circumstances, the Funds may have cash overdrafts with the Custodian due to expense payments, capital transactions, trading of securities, investment operations or derivative transactions. The Due to Custodian amount, if any, reflects cash overdrawn with State Street, as custodian, who is an affiliate of the Funds.
4.    Trustees’ Fees
The fees and expenses of the Independent Trustees and one interested, non-management trustee are paid directly by the Funds. The Independent Trustees and one interested, non-management trustee are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.
5.    Investment Transactions
Purchases and sales of investments (excluding in-kind transactions and short term investments) for the period ended March 31, 2022, were as follows:
  Purchases   Sales
SPDR MSCI ACWI Climate Paris Aligned ETF
 $ 5,272,951   $ 5,466,459
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
 54,422,491   21,156,675
SPDR MSCI EAFE StrategicFactors ETF
 65,623,600   48,593,235
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
 1,582,393   24,017,705
SPDR MSCI Emerging Markets StrategicFactors ETF
 8,642,179   11,314,868
SPDR MSCI World StrategicFactors ETF
 3,915,152   3,586,535
SPDR S&P Emerging Asia Pacific ETF
 1,297,412   38,285,244
SPDR S&P Global Dividend ETF
 145,311,067   116,614,666
SPDR S&P Global Infrastructure ETF
 50,777,878   26,422,764
For the period ended March 31, 2022, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:
  In-kind
Contributions 		  In-kind
Redemptions 		  In-kind Net
Realized
Gains/(Losses)
SPDR MSCI ACWI Climate Paris Aligned ETF
 $ —   $ —   $ —
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
 43,539,925   14,965,084   6,029,534
SPDR MSCI EAFE StrategicFactors ETF
 160,843,490   99,242,700   31,492,234
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
 —   14,223,891   2,551,261
SPDR MSCI Emerging Markets StrategicFactors ETF
 —   1,405,045   137,581
SPDR MSCI World StrategicFactors ETF
 9,699,263   —   —
SPDR S&P Emerging Asia Pacific ETF
 —   33,600,585   11,658,959
SPDR S&P Global Dividend ETF
 13,999,671   91,229,398   11,087,879
SPDR S&P Global Infrastructure ETF
 10,140,853   19,946,145   6,277,757
141

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
6.    Shareholder Transactions
Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.
The consideration for the purchase of Creation Units of a Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in “Other Capital” on the Statements of Changes in Net Assets.
7.    Income Tax Information
The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.
The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service (the "IRS") for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. As of September 30, 2021, SSGA FM has analyzed the Funds' tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.
Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.
As of March 31, 2022, gross unrealized appreciation and gross unrealized depreciation of investments and other financial instruments based on cost for federal income tax purposes were as follows:
  Tax
Cost 		  Gross
Unrealized
Appreciation 		  Gross
Unrealized
Depreciation 		  Net Unrealized
Appreciation
(Depreciation)
SPDR MSCI ACWI Climate Paris Aligned ETF
 $ 87,995,843   $ 32,815,322   $ 6,077,130   $26,738,192
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
 251,337,988   27,626,915   17,027,990   10,598,925
SPDR MSCI EAFE StrategicFactors ETF
 854,174,989   68,730,503   57,342,204   11,388,299
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
 118,416,703   26,891,633   19,447,821   7,443,812
SPDR MSCI Emerging Markets StrategicFactors ETF
 64,151,948   21,324,535   10,290,728   11,033,807
SPDR MSCI World StrategicFactors ETF
 51,597,416   13,994,307   1,509,580   12,484,727
SPDR S&P Emerging Asia Pacific ETF
 418,342,163   159,241,272   91,521,830   67,719,442
SPDR S&P Global Dividend ETF
 291,450,401   14,922,051   11,850,425   3,071,626
SPDR S&P Global Infrastructure ETF
 447,005,763   69,374,322   13,236,016   56,138,306
8.    Securities Lending
Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.
The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or
142

SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.
The market value of securities on loan as of March 31, 2022, and the value of the invested cash collateral are disclosed in the Funds' Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds' Statements of Assets and Liabilities as it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds' Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
The following is a summary of each Fund's securities lending agreements and related cash and non-cash collateral received as of March 31, 2022:
Fund   Market Value of
Securities on Loan 		  Cash
Collateral
Received 		  Non-Cash
Collateral
Received* 		  Total
Collateral
Received
SPDR MSCI ACWI Climate Paris Aligned ETF
   $ 3,021,110   $ 2,369,493   $ 834,707   $ 3,204,200
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
   11,363,476   8,138,158   4,044,878   12,183,036
SPDR MSCI EAFE StrategicFactors ETF
   36,922,507   18,583,446   20,715,444   39,298,890
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
   2,590,645   1,484,134   1,303,434   2,787,568
SPDR MSCI Emerging Markets StrategicFactors ETF
   1,178,484   715,635   545,617   1,261,252
SPDR MSCI World StrategicFactors ETF
   1,334,908   737,952   673,757   1,411,709
SPDR S&P Emerging Asia Pacific ETF
   12,562,778   5,846,325   8,223,443   14,069,768
SPDR S&P Global Dividend ETF
   19,937,547   13,273,992   7,888,088   21,162,080
SPDR S&P Global Infrastructure ETF
   3,132,648   1,242,406   2,042,019   3,284,425
* The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities.
        Remaining Contractual Maturity of the Agreements
as of March 31, 2022
Fund   Securities
Lending
Transactions 		  Overnight
and
Continuous 		  <30 Days   Between
30 & 90
Days 		  >90 Days   Total
Borrowings 		  Gross Amount
of Recognized
Liabilities for
Securities Lending Transactions
SPDR MSCI ACWI Climate Paris Aligned ETF
   Common Stocks   $ 2,369,493   $—   $—   $—   $ 2,369,493   $ 2,369,493
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
   Common Stocks   8,138,158   —   —   —   8,138,158   8,138,158
SPDR MSCI EAFE Strategicfactors ETF
   Common Stocks   18,583,446   —   —   —   18,583,446   18,583,446
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
   Common Stocks   1,484,134   —   —   —   1,484,134   1,484,134
SPDR MSCI Emerging Markets Strategicfactors ETF
   Common Stocks   715,635   —   —   —   715,635   715,635
SPDR MSCI World Strategicfactors ETF
   Common Stocks   737,952   —   —   —   737,952   737,952
SPDR S&P Emerging Asia Pacific ETF
   Common Stocks   5,846,325   —   —   —   5,846,325   5,846,325
SPDR S&P Global Dividend ETF
   Common Stocks   13,273,992   —   —   —   13,273,992   13,273,992
SPDR S&P Global Infrastructure ETF
   Common Stocks   1,242,406   —   —   —   1,242,406   1,242,406
9.    Line of Credit
Certain Funds and other affiliated funds (each, a “Participant” and collectively, the “Participants”) have access to $200 million of a $1.1 billion revolving credit facility, provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. This agreement expires in October 2022 unless extended or renewed.
The following Funds participate in the credit facility as of March 31, 2022:
SPDR MSCI ACWI Climate Paris Aligned ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactors ETF
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
SPDR S&P Emerging Asia Pacific ETF
The Funds had no outstanding loans as of March 31, 2022.
The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses. A participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1.00% plus the greater of the New York Fed Bank Rate and the one-month SOFR Rate. Prior to October 7, 2021, the Funds had access to $200 million of a $500 million revolving credit facility and interest was calculated at a rate per annum equal to the sum of 1.25% plus the New York Fed Bank Rate..
10.    Risks
Concentration Risk
As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.
Foreign and Emerging Markets Risk
Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds' invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.
Credit Risk
Each Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which a Fund has unsettled or open transactions defaults.
Market Risk
Each Fund's investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. Each Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, or other events could have a significant impact on a Fund and its investments.
An outbreak of a respiratory disease caused by a novel coronavirus first detected in China in December 2019 has spread globally. In an organized attempt to contain and mitigate the effects of the spread of the coronavirus known as COVID-19, governments and businesses world-wide have taken aggressive measures, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. The effects of COVID-19 will likely affect certain sectors and industries more dramatically than others, which may adversely affect the value of a Fund’s investments in those sectors or industries. COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined at this time, but the effects could be present for an extended period of time.
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS  (continued)
March 31, 2022 (Unaudited)
Russian Sanctions Risk
Sanctions threatened or imposed by a number of jurisdictions, including the United States, the European Union and the United Kingdom, and other intergovernmental actions that have been or may be undertaken in the future, against Russia, Russian entities or Russian individuals, may result in the devaluation of Russian currency, a downgrade in the country’s credit rating, an immediate freeze of Russian assets, a decline in the value and liquidity of Russian securities, property or interests, and/or other adverse consequences to the Russian economy or a Fund. The scope and scale of sanctions in place at a particular time may be expanded or otherwise modified in a way that have negative effects on a Fund. Sanctions, or the threat of new or modified sanctions, could impairthe ability of a Fund to buy, sell, hold, receive, deliver or otherwise transact in certain affected securities or other investment instruments. Sanctions could also result in Russia taking counter measures or other actions in response, which may further impair the value and liquidity of Russian securities. These sanctions, and the resulting disruption of the Russian economy, may cause volatility in other regional and global markets and may negatively impact the performance of various sectors and industries, as well as companies in other countries, which could have a negative effect on the performance of a Fund, even if a Fund does not have direct exposure to securities of Russian issuers. As a collective result of the imposition of sanctions, Russian government countermeasures and the impact that they have had on the trading markets for Russian securities, certain Funds have used, and may in the future use, fair valuation procedures approved by the Fund’s Board to value certain Russian securities, which could result in such securities being deemed to have a zero value.
11.    Subsequent Events
Effective April 22, 2022, the SPDR MSCI ACWI Low Carbon Target ETF name, ticker symbol, investment objective, benchmark index, management fees and principal U.S. listing exchange have changed as follows:
Previous Name of Fund (Ticker) Previous Benchmark Index Previous Listing Exchange
SPDR MSCI ACWI Low Carbon Target ETF (LOWC) MSCI ACWI Low Carbon Target Index SPDR NYSE Arca,Inc.
New Name of Fund (Ticker) New Benchmark Index New Listing Exchange
MSCI ACWI Climate Paris Aligned ETF (NZAC) MSCI ACWI Climate Paris Aligned Index The Nasdaq Stock Market LLC
New Investment Objective:
The SPDR MSCI ACWI Climate Paris Aligned ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that provides exposure to large- and mid-cap companies in developed and emerging markets and is designed to exceed the minimum standards for a “Paris Aligned Benchmark” under the European Union’s Low Carbon Benchmark Regulation (the “EU BMR”) by, in the aggregate, seeking to minimize exposure to physical and transition risks of climate change and target exposure to companies more favorably positioned to benefit from opportunities arising from the transition to a lower carbon economy.
Management Fees:
SSGA Funds Management, Inc. has agreed to reduce the Fund’s management fee from 0.20% to 0.12% of the Fund’s average daily net assets.
The fund's new name is used in this semi-annual report.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION
March 31, 2022 (Unaudited)
Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads), if applicable, on purchase payments, reinvested dividends, or other distributions and (2) ongoing costs, including advisory fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from October 1, 2021 to March 31, 2022.
The table below illustrates your Fund's cost in two ways:
Based on actual fund return ——This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from each Fund's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period”.
Based on hypothetical 5% return ——This section is intended to help you compare your Fund's costs with those of other mutual funds. It assumes that the Fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case, because the return used is not the Fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return. You can assess your Fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales load charges (loads). Therefore, the hypothetical 5% return section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
      Actual   Hypothetical (assuming a 5%
return before expenses)
  Annualized
Expense Ratio 		  Ending Account
Value 		  Expenses Paid
During Period 		  Ending Account
Value 		  Expenses Paid
During Period(a)
SPDR MSCI ACWI Climate Paris Aligned ETF
 0.20%   $1,007.80   $1.00   $1,023.90   $1.01
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
 0.20   947.50   0.97   1,023.90   1.01
SPDR MSCI EAFE StrategicFactors ETF
 0.30   976.80   1.48   1,023.40   1.51
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
 0.30   935.80   1.45   1,023.40   1.51
SPDR MSCI Emerging Markets StrategicFactors ETF
 0.30   969.60   1.47   1,023.40   1.51
SPDR MSCI World StrategicFactors ETF
 0.30   1,033.10   1.52   1,023.40   1.51
SPDR S&P Emerging Asia Pacific ETF
 0.49   911.80   2.34   1,022.50   2.47
SPDR S&P Global Dividend ETF
 0.40   1,049.00   2.04   1,022.90   2.02
SPDR S&P Global Infrastructure ETF
 0.40   1,119.70   2.11   1,022.90   2.02
(a) Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 182, then divided by 365.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION  (continued)
March 31, 2022 (Unaudited)
Liquidity Risk Management Program
Pursuant to Rule 22e-4 under the 1940 Act, the Funds have adopted a liquidity risk management program (the "Program"). The Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Fund. Liquidity risk is defined as the risk that a Fund could not meet redemption requests without significant dilution of remaining investors’ interests in the Fund.
SSGA FM has been designated by the Board to administer the Funds’ Program. Over the course of the prior year, SSGA FM provided the Board with reports addressing the operations of the Program and assessing its adequacy and the effectiveness of the Program’s implementation for periods ending June 2021 and December 2021 including:
• the Program supported each Fund’s ability to honor redemption requests timely;
• the Program supported SSGA FM’s management of each Fund’s liquidity profile, including during periods of market volatility and net redemptions;
• no material liquidity issues were identified during the period;
• there were no material changes to the Program during the period;
• the implementation of the Program was effective to manage each Fund’s liquidity risk; and
• the Program operated adequately during the period.
There can be no assurance that the Program will achieve its objectives in the future. Please refer to your Fund’s prospectus for more information regarding the Fund’s exposure to liquidity risk and other principal risks to which an investment in the Fund may be subject.
Premium/Discount Information
Information regarding how often the Shares of each Fund traded on the exchange at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Fund during the past calendar year can be found at https://www.ssga.com/spdrs.
Proxy Voting Policies and Procedures and Records
The Funds have adopted the proxy voting policies of the Adviser. A description of the Funds' proxy voting policies and procedures that are used by the Funds’ investment Adviser to vote proxies relating to the Funds’ portfolio of securities are available (i) without charge, upon request by calling 1-866-787-2257 (toll free) and (ii) on the SEC's website at www.sec.gov.
Information regarding how the Funds voted for the prior 12-month period ended June 30 is available by August 31 of each year by calling the same number and on the SEC’s website, at www.sec.gov, and on the Funds’ website at https://www.ssga.com/spdrs.
Quarterly Portfolio Schedule
Following the Funds’ first and third fiscal quarter-ends, complete Schedules of Investments are filed with the SEC as exhibits on Form N-PORT, which can be found on the Funds' website at https://www.ssga.com/spdrs and on the SEC's website at www.sec.gov. The Funds’ Schedules of Investments are available upon request, without charge, by calling 1-866-787-2257 (toll free).
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SPDR® Index Shares Funds
SPDR Index Shares Funds
Trustees
Dwight D. Churchill
Clare S. Richer
James E. Ross, Interested Non-management Trustee
Sandra G. Sponem
Carl G. Verboncoeur, Chairman
Investment Manager and Administrator
SSGA Funds Management, Inc.
One Iron Street
Boston, MA 02210
Distributor
State Street Global Advisors Funds Distributors, LLC
One Iron Street
Boston, MA 02210
Custodian, Sub-Administrator
and Transfer Agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
Legal Counsel
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Independent Registered Public Accounting Firm
Ernst & Young LLP
200 Clarendon Street
Boston, MA 02116
 
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting https://www.ssga.com/spdrs. Please read the prospectus carefully before you invest.

SPDR® Index Shares Funds
For more complete information, please call 1.866.787.2257 or visit https://www.ssga.com/spdrs today.
The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indices LLC or MSCI Inc. Neither do these companies make any representation regarding the advisability of investing in the Funds. Shares of the Funds are not insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by State Street Bank and Trust Company. Fund shares are subject to investment risks, including possible loss of the principal invested.
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.
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.
Before investing, consider a Fund's investment objective, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit https://www.ssga.com/spdrs. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
 
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting https://www.ssga.com/spdrs. Please read the prospectus carefully before you invest.
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