Semi-Annual Report
March 31, 2021
SPDR® Index Shares Funds
SPDR Portfolio Emerging Markets ETF
SPDR Portfolio Developed World ex-US ETF
SPDR Portfolio MSCI Global Stock Market ETF
SPDR Portfolio Europe 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 www.ssga.com. Please read the prospectus carefully before you invest.




TABLE OF CONTENTS (Unaudited)
Portfolio Statistics (Unaudited)  

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2

3

4
Schedules of Investments (Unaudited)  

5

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244
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 www.ssga.com. Please read the prospectus carefully before you invest.


Table of Contents
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Table of Contents
SPDR Portfolio Emerging Markets ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2021

     
  Description % of Net Assets  
  Tencent Holdings, Ltd. 5.4%  
  Alibaba Group Holding, Ltd. ADR 4.9  
  Taiwan Semiconductor Manufacturing Co., Ltd. 4.7  
  Meituan Class B 1.9  
  Naspers, Ltd. Class N 1.3  
  Reliance Industries, Ltd. GDR 1.1  
  China Construction Bank Corp. Class H 1.1  
  JD.com, Inc. ADR 0.9  
  Infosys, Ltd. ADR 0.9  
  Ping An Insurance Group Co. of China, Ltd. Class H 0.9  
  TOTAL 23.1%  
(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 Portfolio Developed World ex-US ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2021

     
  Description % of Net Assets  
  Samsung Electronics Co., Ltd. GDR 1.6%  
  Nestle SA 1.3  
  ASML Holding NV 1.1  
  Roche Holding AG 1.0  
  Novartis AG 0.9  
  Toyota Motor Corp. 0.8  
  LVMH Moet Hennessy Louis Vuitton SE 0.7  
  Unilever PLC 0.6  
  AIA Group, Ltd. 0.6  
  SoftBank Group Corp. 0.6  
  TOTAL 9.2%  
(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.
2


Table of Contents
SPDR Portfolio MSCI Global Stock Market ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2021

     
  Description % of Net Assets  
  Apple, Inc. 3.0%  
  Microsoft Corp. 2.5  
  Amazon.com, Inc. 2.0  
  Alphabet, Inc. Class C 1.0  
  Alphabet, Inc. Class A 1.0  
  Taiwan Semiconductor Manufacturing Co., Ltd. ADR 1.0  
  Facebook, Inc. Class A 1.0  
  JPMorgan Chase & Co. 0.9  
  Visa, Inc. Class A 0.8  
  Tencent Holdings, Ltd. 0.8  
  TOTAL 14.0%  
(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.
3


Table of Contents
SPDR Portfolio Europe ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2021

     
  Description % of Net Assets  
  Nestle SA 2.6%  
  ASML Holding NV 2.1  
  Roche Holding AG 1.8  
  Novartis AG 1.7  
  LVMH Moet Hennessy Louis Vuitton SE 1.4  
  Unilever PLC 1.2  
  Linde PLC 1.2  
  SAP SE 1.1  
  AstraZeneca PLC 1.1  
  Siemens AG 1.0  
  TOTAL 15.2%  
(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.
4


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2021 (Unaudited)

Security Description     Shares   Value
COMMON STOCKS — 99.5%        
BRAZIL — 5.5%          
Afya, Ltd. Class A (a)(b)

    10,804   $ 200,846
Ambev SA ADR (b)

    3,891,146   10,661,740
Anima Holding SA (a)

    107,605   190,688
Arco Platform, Ltd. Class A (a)(b)

    9,773   247,648
Atacadao SA

    21,773   89,592
Azul SA Preference Shares (a)

    104,085   698,142
B2W Cia Digital (a)

    146,576   1,577,971
B3 SA - Brasil Bolsa Balcao

    1,796,549   17,389,245
Banco Bradesco SA ADR (b)

    4,464,236   20,981,909
Banco Bradesco SA

    108,344   451,385
Banco BTG Pactual SA

    112,995   1,943,322
Banco BTG Pactual SA Preference Shares

    1   5
Banco do Brasil SA

    950,660   5,129,824
Banco Inter SA Preference Shares (c)

    61,679   569,462
Banco Inter SA

    108,840   3,022,562
Banco Pan SA Preference Shares

    403,206   785,262
Banco Santander Brasil SA

    41,714   292,730
BB Seguridade Participacoes SA

    630,419   2,709,137
BR Malls Participacoes SA (a)

    1,170,511   2,099,162
Bradespar SA Preference Shares

    392,011   4,745,396
Brasil Brokers Participacoes SA (a)

    3,038   931
Braskem SA ADR (a)(b)

    187,897   2,671,895
BRF SA ADR (a)

    578,592   2,597,878
CCR SA

    566,629   1,297,332
Centrais Eletricas Brasileiras SA ADR (b)

    531,765   3,243,767
Cia Brasileira de Distribuicao ADR (b)

    251,912   1,466,128
Cia de Locacao das Americas

    112,492   493,984
Cia de Saneamento Basico do Estado de Sao Paulo

    516,046   3,767,694
Cia Energetica de Minas Gerais ADR (b)

    1,512,921   3,434,331
Cia Energetica de Sao Paulo Class B, Preference Shares

    52,640   262,687
Cia Hering

    39,206   111,789
Cia Siderurgica Nacional SA ADR (b)

    713,039   4,777,361
Cielo SA

    1,171,901   772,545
Cogna Educacao (a)

    1,406,208   991,797
Construtora Tenda SA

    1,668   7,682
Cosan SA

    219,012   3,548,128
Cosan SA ADR

    34,505   557,256
CVC Brasil Operadora e Agencia de Viagens SA (a)

    62,789   219,422
Cyrela Brazil Realty SA Empreendimentos e Participacoes

    491,705   2,147,887
Duratex SA

    446,753   1,479,676
See accompanying notes to financial statements.
5


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Embraer SA (a)

    893,284   $ 2,217,776
Eneva SA (a)

    820,920   2,429,446
Engie Brasil Energia SA

    87,913   651,675
Equatorial Energia SA

    189,116   831,132
Eternit SA (a)

    7,252   24,083
Gafisa SA (a)

    29,813   24,303
Gerdau SA ADR (b)

    1,226,360   6,548,762
Gol Linhas Aereas Inteligentes SA Preference Shares (a)

    24,916   94,975
Grupo SBF SA (a)

    33,763   158,015
Hapvida Participacoes e Investimentos SA (c)

    499,240   1,316,444
Hypera SA

    78,534   445,764
IRB Brasil Resseguros SA

    369,974   401,903
Itau Unibanco Holding SA Preference Shares ADR

    4,355,494   21,603,250
Itausa SA Preference Shares

    5,422,414   9,916,589
Itausa SA

    353,031   694,426
Kepler Weber SA

    10,590   81,316
Klabin SA (a)

    330,834   1,619,873
Linx SA

    35,140   235,388
Localiza Rent a Car SA

    335,364   3,549,759
Locaweb Servicos de Internet SA (c)

    120,528   488,050
LOG Commercial Properties e Participacoes SA

    3,541   17,972
Log-in Logistica Intermodal SA (a)

    5,741   15,484
Lojas Americanas SA Preference Shares

    1,171,609   4,642,420
Lojas Renner SA

    888,368   6,704,872
Magazine Luiza SA

    1,799,258   6,453,479
Marcopolo SA Preference Shares

    413,230   205,041
Marfrig Global Foods SA (a)

    192,880   601,917
Metalurgica Gerdau SA Preference Shares

    1,650,367   3,921,925
Mills Estruturas e Servicos de Engenharia SA (a)

    37,870   44,494
Minerva SA

    42,072   76,047
MMX Mineracao e Metalicos SA (a)

    20,968   102,183
MRV Engenharia e Participacoes SA

    103,078   332,451
Natura & Co. Holding SA (a)

    645,180   5,503,981
Notre Dame Intermedica Participacoes SA

    406,039   5,957,829
Odontoprev SA

    25,047   58,368
Oi SA ADR (a)(b)

    737,829   1,224,796
Pagseguro Digital, Ltd. Class A (a)(b)

    125,360   5,804,168
PDG Realty SA Empreendimentos e Participacoes (a)

    72,195   68,574
Petro Rio SA (a)

    41,539   679,287
Petrobras Distribuidora SA

    246,464   964,367
Petroleo Brasileiro SA Preference Shares ADR

    1,996,870   17,053,270
Petroleo Brasileiro SA ADR

    987,674   8,375,476
See accompanying notes to financial statements.
6


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Profarma Distribuidora de Produtos Farmaceuticos SA (a)

    12,264   $ 12,714
Qualicorp Consultoria e Corretora de Seguros SA

    91,215   490,586
Raia Drogasil SA

    665,338   2,954,700
Rede D'Or Sao Luiz SA (c)

    491,813   5,657,200
Restoque Comercio e Confeccoes de Roupas SA (a)

    8,799   6,409
Rodobens Negocios Imobiliarios SA

    55,483   80,624
Rossi Residencial SA (a)

    98,693   170,522
Rumo SA (a)

    632,268   2,268,904
Sendas Distribuidora SA (a)(b)

    251,912   3,274,856
StoneCo, Ltd. Class A (a)

    151,344   9,265,280
Sul America SA

    70,716   428,206
Suzano Papel e Celulose SA ADR (a)(b)

    204,311   2,496,680
Suzano SA (a)

    215,160   2,613,719
T4F Entretenimento SA (a)

    127,791   79,261
Telefonica Brasil SA

    620,631   4,864,524
TIM SA (b)

    257,829   2,926,359
TOTVS SA

    211,500   1,084,298
Ultrapar Participacoes SA

    610,624   2,295,115
Usinas Siderurgicas de Minas Gerais SA Usiminas ADR

    857,397   2,580,765
Vale SA ADR

    2,428,677   42,210,406
Vasta Platform, Ltd. (a)(b)

    7,789   76,722
Via Varejo S/A (a)

    991,519   2,120,793
WEG SA

    676,067   8,932,758
XP, Inc. Class A (a)

    112,992   4,256,409
YDUQS Participacoes SA

    268,847   1,272,533
          332,197,871
CANADA — 0.0% (d)          
Atlas Corp. (b)

    11,086   151,324
CAYMAN ISLANDS — 0.0% (d)          
China Online Education Group ADR (a)

    1,275   25,946
CHILE — 0.6%          
AntarChile SA

    207,658   2,586,620
Banco de Chile

    3,600,749   425,684
Banco Santander Chile

    4,709,030   294,970
Cencosud SA

    94,154   201,847
Empresas COPEC SA

    466,867   5,782,548
Empresas Iansa SA (a)

    3,039,552   77,470
Enel Americas SA ADR (b)

    894,132   7,582,239
Enel Chile SA ADR

    1,052,596   4,126,176
Enjoy SA (a)

    2,588,868   25,712
Falabella SA

    1,489,398   6,783,561
See accompanying notes to financial statements.
7


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Multiexport Foods SA

    2,781,150   $ 1,285,275
Parque Arauco SA

    2,676,388   5,234,306
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares

    90,875   4,871,376
          39,277,784
CHINA — 40.5%          
21Vianet Group, Inc. ADR (a)

    57,285   1,850,305
360 DigiTech, Inc. ADR (b)

    27,202   707,524
360 Security Technology, Inc. Class A

    111,100   235,706
3SBio, Inc. (a)(c)

    686,000   606,193
500.com, Ltd. Class A, ADR (a)(b)

    8,296   177,286
51job, Inc. ADR (a)

    5,619   351,749
AAC Technologies Holdings, Inc. (b)

    713,632   3,593,655
Addsino Co., Ltd. Class A

    272,300   766,949
Advanced Technology & Materials Co., Ltd. Class A (a)

    146,900   150,679
AECC Aviation Power Co., Ltd. Class A

    57,500   399,534
Aerospace CH UAV Co., Ltd.

    57,393   183,694
Agile Group Holdings, Ltd.

    2,683,626   4,397,661
Agora, Inc. ADR (a)(b)

    784   39,413
Agricultural Bank of China, Ltd. Class A

    6,194,300   3,209,873
Agricultural Bank of China, Ltd. Class H

    24,853,000   9,941,903
Aier Eye Hospital Group Co., Ltd. Class A

    154,299   1,393,376
Air China, Ltd. Class H

    2,775,744   2,402,840
Airtac International Group

    79,000   2,782,568
AK Medical Holdings, Ltd. (b)(c)

    166,000   211,385
Akeso, Inc. (a)(c)

    174,000   1,098,907
Alibaba Group Holding, Ltd. ADR (a)

    1,329,513   301,440,482
A-Living Smart City Services Co., Ltd. (c)

    84,500   374,978
Alpha Group Class A (a)

    413,600   342,923
Alphamab Oncology (a)(c)

    38,000   55,037
Aluminum Corp. of China, Ltd. Class H (a)

    7,854,000   3,232,743
Amoy Diagnostics Co., Ltd. Class A

    10,000   108,730
An Hui Wenergy Co., Ltd. Class A

    265,000   187,405
Angang Steel Co., Ltd. Class H

    3,027,231   1,510,802
Anhui Anke Biotechnology Group Co., Ltd. Class A

    14,700   33,808
Anhui Conch Cement Co., Ltd. Class A

    108,800   849,347
Anhui Conch Cement Co., Ltd. Class H

    1,565,771   10,180,749
Anhui Construction Engineering Group Co., Ltd. Class A

    411,100   259,397
Anhui Expressway Co., Ltd. Class H

    8,000   5,536
Anhui Guangxin Agrochemical Co., Ltd. Class A (a)

    243,300   1,154,722
Anhui Gujing Distillery Co., Ltd. Class A

    7,700   246,648
Anhui Gujing Distillery Co., Ltd. Class B

    115,600   1,620,745
See accompanying notes to financial statements.
8


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Anhui Honglu Steel Construction Group Co., Ltd. Class A

    56,800   $ 426,528
Anhui Jiangnan Chemical Industry Co., Ltd. Class A

    340,500   363,272
Anhui Jinhe Industrial Co., Ltd. Class A

    108,400   650,942
Anhui Kouzi Distillery Co., Ltd. Class A

    16,300   154,027
Anhui Transport Consulting & Design Institute Co., Ltd. Class A

    562,917   805,613
ANTA Sports Products, Ltd.

    927,506   15,127,470
Anton Oilfield Services Group (a)(b)

    130,000   8,194
Aoshikang Technology Co., Ltd. Class A

    13,700   121,315
Aotecar New Energy Technology Co., Ltd. Class A

    217,993   119,941
Apeloa Pharmaceutical Co., Ltd. Class A

    221,700   961,313
Ascentage Pharma Group International (a)(c)

    43,900   171,377
Asymchem Laboratories Tianjin Co., Ltd. Class A

    18,400   810,097
Ausnutria Dairy Corp., Ltd.

    58,000   75,946
Autobio Diagnostics Co., Ltd. Class A

    23,100   386,643
Autohome, Inc. ADR (b)

    37,909   3,535,772
Avary Holding Shenzhen Co., Ltd. Class A

    103,900   565,328
Avic Capital Co., Ltd. Class A

    260,400   158,751
AVIC International Holding HK, Ltd. (a)

    2,426,527   40,887
AVIC Jonhon Optronic Technology Co., Ltd. Class A

    20,500   211,211
AVIC Shenyang Aircraft Co., Ltd. Class A

    40,400   399,678
AVIC Xi'an Aircraft Industry Group Co., Ltd. Class A

    15,500   57,311
AviChina Industry & Technology Co., Ltd. Class H

    2,689,000   1,802,017
Bafang Electric Suzhou Co., Ltd. Class A

    9,514   277,828
BAIC Motor Corp., Ltd. Class H (c)

    6,500   2,082
Baidu, Inc. ADR (a)(b)

    208,964   45,460,118
Baidu, Inc. Class A (a)(b)

    39,450   1,080,829
BAIOO Family Interactive, Ltd. (c)

    2,460,000   626,514
Bank of China, Ltd. Class A

    2,151,450   1,098,482
Bank of China, Ltd. Class H

    70,605,440   26,881,915
Bank of Communications Co., Ltd. Class H

    20,613,864   13,124,868
Bank of Ningbo Co., Ltd. Class A

    252,300   1,495,066
Baoshan Iron & Steel Co., Ltd. Class A

    59,200   72,904
Baosheng Science and Technology Innovation Co., Ltd. Class A

    1,016,800   641,583
Baozun, Inc. ADR (a)(b)

    15,979   609,439
Bay Area Gold Group, Ltd. (a)

    231   25
BBMG Corp. Class H

    1,278,000   266,303
BeiGene, Ltd. ADR (a)

    25,551   8,893,792
Beijing BDStar Navigation Co., Ltd. Class A (a)

    119,400   786,149
Beijing Capital International Airport Co., Ltd. Class H

    3,159,490   2,458,684
Beijing Capital Land, Ltd. Class H

    28,000   3,530
Beijing Career International Co., Ltd. Class A

    30,600   240,231
See accompanying notes to financial statements.
9


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Beijing Certificate Authority Co., Ltd. Class A

    14,100   $ 89,033
Beijing Chunlizhengda Medical Instruments Co., Ltd. Class H (b)

    23,000   55,026
Beijing Ctrowell Technology Corp., Ltd. Class A

    81,406   114,146
Beijing Dabeinong Technology Group Co., Ltd. Class A

    381,700   489,836
Beijing Enterprises Clean Energy Group, Ltd. (a)

    24,114,856   378,421
Beijing Enterprises Holdings, Ltd.

    681,500   2,406,238
Beijing Enterprises Water Group, Ltd.

    5,390,000   2,045,225
Beijing GeoEnviron Engineering & Technology, Inc. Class A

    564,100   1,567,327
Beijing Jingneng Clean Energy Co., Ltd. Class H

    136,000   30,788
Beijing Oriental Yuhong Waterproof Technology Co., Ltd. Class A

    224,100   1,747,387
Beijing Shiji Information Technology Co., Ltd. Class A

    112,300   505,429
Beijing Shunxin Agriculture Co., Ltd. Class A

    26,900   192,406
Beijing SL Pharmaceutical Co., Ltd. Class A

    248,650   358,506
Beijing Strong Biotechnologies, Inc. Class A

    9,100   26,921
Beijing Tiantan Biological Products Corp., Ltd. Class A

    198,523   988,197
Beijing Tongtech Co., Ltd. Class A

    18,500   114,955
Beijing Yuanliu Hongyuan Electronic Technology Co., Ltd. Class A

    11,100   219,473
Beijing Zhidemai Technology Co., Ltd. Class A

    7,200   88,425
Beijing Zuojiang Technology Co., Ltd. Class A

    19,600   127,407
Beken Corp. Class A

    12,564   104,266
Berry Genomics Co., Ltd. Class A (a)

    112,000   552,387
BEST, Inc. ADR (a)(b)

    45,217   85,008
Bestsun Energy Co., Ltd. Class A

    264,200   230,327
Bethel Automotive Safety Systems Co., Ltd. Class A

    26,600   111,813
Betta Pharmaceuticals Co., Ltd. Class A

    1,400   22,652
BGI Genomics Co., Ltd. Class A

    20,100   376,224
Biem.L.Fdlkk Garment Co., Ltd. Class A

    176,963   552,908
Bilibili, Inc. ADR (a)

    103,784   11,111,115
Blue Sail Medical Co., Ltd. Class A

    120,400   353,610
BOE Technology Group Co., Ltd. Class A

    986,700   942,908
BOE Technology Group Co., Ltd. Class B

    814,700   391,922
Bosideng International Holdings, Ltd.

    2,580,000   1,161,497
Boya Bio-pharmaceutical Group Co., Ltd. Class A

    19,825   84,271
Boyaa Interactive International, Ltd. (a)

    64,000   4,692
Brilliance China Automotive Holdings, Ltd.

    2,744,000   2,576,542
B-Soft Co., Ltd. Class A

    164,784   275,511
BYD Co., Ltd. Class A

    107,800   2,702,886
BYD Co., Ltd. Class H

    582,556   12,356,306
BYD Electronic International Co., Ltd. (b)

    647,500   3,781,168
C&S Paper Co., Ltd. Class A

    7,400   29,143
See accompanying notes to financial statements.
10


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
C.banner International Holdings, Ltd. (a)

    12,000   $ 256
Cabbeen Fashion, Ltd.

    1,246,000   389,453
Caissa Tosun Development Co., Ltd. Class A (a)

    83,006   124,360
Caitong Securities Co., Ltd. Class A

    140,700   238,889
CanSino Biologics, Inc. Class H (a)(b)(c)

    19,600   741,197
CAR, Inc. (a)

    96,000   48,652
CECEP Wind-Power Corp. Class A

    537,800   352,457
Central China Securities Co., Ltd. Class A (a)

    463,600   317,960
CGN Mining Co., Ltd.

    325,000   21,738
CGN New Energy Holdings Co Ltd (a)

    24,000   6,267
CGN Nuclear Technology Development Co., Ltd. Class A

    252,400   473,548
CGN Power Co., Ltd. Class H (c)

    9,620,000   2,326,287
Chacha Food Co., Ltd. Class A

    30,900   230,813
Changchun High & New Technology Industry Group, Inc. Class A

    11,925   822,838
Changjiang Securities Co., Ltd. Class A

    402,900   433,530
Changsha Jingjia Microelectronics Co., Ltd. Class A

    26,700   320,667
Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Class A

    27,200   783,515
Chanjet Information Technology Co., Ltd. Class H

    2,600   7,909
Chaowei Power Holdings, Ltd.

    75,000   28,169
Cheetah Mobile, Inc. ADR (b)

    10,984   24,714
ChemPartner PharmaTech Co., Ltd. Class A (a)

    51,800   96,239
Chengdu Fusen Noble-House Industrial Co., Ltd. Class A

    124,400   279,659
Chengdu Hongqi Chain Co., Ltd. Class A

    847,086   770,759
Chengdu Kanghong Pharmaceutical Group Co., Ltd. Class A

    23,400   104,353
Chifeng Jilong Gold Mining Co., Ltd. Class A (a)

    99,200   219,531
China Aerospace International Holdings, Ltd.

    2,254,000   188,451
China Aircraft Leasing Group Holdings, Ltd. (b)

    6,500   5,267
China Aoyuan Group, Ltd.

    1,347,000   1,446,720
China Baoan Group Co., Ltd. Class A

    289,800   383,385
China Bester Group Telecom Co., Ltd. Class A

    116,900   205,428
China Biologic Products Holdings, Inc. (a)(b)

    16,264   1,925,820
China Bohai Bank Co., Ltd. Class H (a)(c)

    42,500   19,079
China Building Material Test & Certification Group Co., Ltd. Class A

    574,320   2,188,319
China Chengtong Development Group, Ltd. (a)(b)

    3,726,000   85,788
China Cinda Asset Management Co., Ltd. Class H

    11,357,000   2,366,513
China CITIC Bank Corp., Ltd. Class H

    11,020,000   5,598,981
China Coal Energy Co., Ltd. Class H

    6,744,000   3,105,496
China Common Rich Renewable Energy Investment, Ltd. (a)(e)

    856,000  
China Communications Services Corp., Ltd. Class H

    152,000   68,234
See accompanying notes to financial statements.
11


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
China Conch Venture Holdings, Ltd.

    1,387,200   $ 6,521,639
China Construction Bank Corp. Class H

    76,038,600   63,964,968
China Datang Corp. Renewable Power Co., Ltd. Class H

    1,238,000   235,675
China Dili Group (a)

    2,131,100   627,725
China Dongxiang Group Co., Ltd.

    1,080,000   125,025
China East Education Holdings, Ltd. (b)(c)

    31,500   68,636
China Eastern Airlines Corp., Ltd. Class H

    144,000   67,791
China Education Group Holdings, Ltd.

    163,000   289,752
China Electronics Huada Technology Co., Ltd.

    134,000   13,099
China Energine International Holdings, Ltd. (a)(b)

    1,430,000   28,142
China Enterprise Co., Ltd. Class A

    382,592   198,258
China Everbright Bank Co., Ltd. Class A

    554,500   344,809
China Everbright Environment Group, Ltd.

    3,058,111   2,069,042
China Everbright, Ltd.

    24,000   31,364
China Evergrande Group (b)

    1,850,737   3,523,196
China Fangda Group Co., Ltd. Class B

    2,011,067   794,137
China Feihe, Ltd. (c)

    1,535,000   4,343,716
China Film Co., Ltd. Class A

    150,100   324,166
China Financial Services Holdings, Ltd. (a)

    86,100   18,827
China Foods, Ltd.

    16,000   6,771
China Fortune Land Development Co., Ltd. Class A

    35,620   34,093
China Galaxy Securities Co., Ltd. Class A

    162,000   255,548
China Galaxy Securities Co., Ltd. Class H

    2,763,400   1,706,143
China Gas Holdings, Ltd.

    2,137,600   8,757,219
China Great Wall Securities Co., Ltd. Class A

    126,200   209,846
China Greatwall Technology Group Co., Ltd. Class A

    166,500   377,094
China Hanking Holdings, Ltd.

    1,162,000   200,282
China Harmony Auto Holding, Ltd.

    7,000   3,683
China High Speed Railway Technology Co., Ltd. Class A

    722,900   252,308
China Hongqiao Group, Ltd.

    50,500   67,425
China Huarong Energy Co., Ltd. (a)

    100,000   1,582
China Index Holdings, Ltd. ADR (a)(b)

    34,968   76,230
China International Capital Corp., Ltd. Class H (a)(b)(c)

    351,200   851,071
China International Marine Containers Group Co., Ltd. Class H

    134,540   236,046
China Jinmao Holdings Group, Ltd.

    880,000   353,157
China Kings Resources Group Co., Ltd. Class A

    7,400   28,467
China Lesso Group Holdings, Ltd.

    1,301,000   2,797,975
China Life Insurance Co., Ltd. Class H

    7,047,260   14,557,814
China Literature, Ltd. (a)(b)(c)

    167,600   1,658,872
China Longyuan Power Group Corp., Ltd. Class H

    2,690,000   3,653,815
China Machinery Engineering Corp. Class H

    14,000   6,249
China Medical System Holdings, Ltd.

    1,387,000   2,743,867
See accompanying notes to financial statements.
12


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
China Meidong Auto Holdings, Ltd.

    152,000   $ 704,822
China Mengniu Dairy Co., Ltd.

    2,596,345   14,861,161
China Merchants Bank Co., Ltd. Class A

    1,061,562   8,267,667
China Merchants Bank Co., Ltd. Class H

    3,504,181   26,750,850
China Merchants China Direct Investments, Ltd.

    4,000   5,567
China Merchants Port Holdings Co., Ltd.

    2,762,090   4,234,912
China Merchants Securities Co., Ltd. Class A

    385,741   1,155,248
China Merchants Shekou Industrial Zone Holdings Co., Ltd. Class A

    163,457   305,678
China Minsheng Banking Corp., Ltd. Class H

    7,411,379   4,299,381
China Modern Dairy Holdings, Ltd. (a)

    93,000   22,250
China Molybdenum Co., Ltd. Class A

    1,543,700   1,242,263
China Molybdenum Co., Ltd. Class H

    345,000   209,012
China National Accord Medicines Corp., Ltd. Class B

    266,195   789,226
China National Building Material Co., Ltd. Class H

    2,947,400   4,253,655
China National Medicines Corp., Ltd. Class A

    152,795   788,287
China National Software & Service Co., Ltd. Class A

    30,200   246,481
China Ocean Industry Group, Ltd. (a)

    57,625   927
China Oilfield Services, Ltd. Class H

    2,158,422   2,221,041
China Overseas Grand Oceans Group, Ltd.

    109,500   71,550
China Overseas Land & Investment, Ltd.

    4,170,804   10,836,810
China Overseas Property Holdings, Ltd.

    62,066   57,959
China Pacific Insurance Group Co., Ltd. Class A

    253,838   1,463,944
China Pacific Insurance Group Co., Ltd. Class H

    2,473,600   9,751,923
China Petroleum & Chemical Corp. Class H

    23,100,338   12,301,243
China Power International Development, Ltd.

    6,904,000   1,607,347
China Railway Group, Ltd. Class H

    5,534,487   2,925,833
China Rare Earth Holdings, Ltd. (a)

    2,013,200   235,645
China Resources Beer Holdings Co., Ltd.

    906,930   7,110,134
China Resources Cement Holdings, Ltd.

    332,000   372,806
China Resources Gas Group, Ltd.

    346,000   1,918,155
China Resources Land, Ltd.

    2,786,222   13,493,078
China Resources Power Holdings Co., Ltd.

    2,766,432   3,672,231
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. Class A

    24,600   91,708
China Sanjiang Fine Chemicals Co., Ltd.

    73,000   34,179
China Science Publishing & Media, Ltd. Class A

    127,700   188,985
China Shenhua Energy Co., Ltd. Class H

    3,995,624   8,233,367
China Shipbuilding Industry Co., Ltd. Class A (a)

    1,076,900   671,298
China Singyes Solar Technologies Holdings, Ltd. (a)

    9,600   1,432
China South City Holdings, Ltd.

    2,572,000   284,511
China Southern Airlines Co., Ltd. Class H (a)

    2,604,000   1,929,273
China State Construction Engineering Corp., Ltd. Class A

    547,300   432,922
See accompanying notes to financial statements.
13


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
China Taiping Insurance Holdings Co., Ltd.

    1,103,835   $ 2,249,001
China Tianying, Inc. Class A (a)

    557,700   390,999
China Tourism Group Duty Free Corp., Ltd. Class A

    134,900   6,293,085
China Tower Corp., Ltd. Class H (c)

    27,888,000   4,125,205
China TransInfo Technology Co., Ltd. Class A

    290,300   697,743
China Travel International Investment Hong Kong, Ltd. (a)

    8,138,000   1,381,726
China Vanke Co., Ltd. Class A

    439,200   2,008,169
China Vanke Co., Ltd. Class H

    1,097,000   4,296,593
China World Trade Center Co., Ltd. Class A

    107,000   196,348
China Yangtze Power Co., Ltd. Class A

    1,253,800   4,097,036
China Yongda Automobiles Services Holdings, Ltd.

    827,500   1,511,425
China Yuhua Education Corp., Ltd. (c)

    24,000   18,800
China ZhengTong Auto Services Holdings, Ltd. (a)(b)

    38,000   3,421
China Zhenhua Group Science & Technology Co., Ltd. Class A

    240,300   1,999,692
ChinaCache International Holdings, Ltd. ADR (a)(b)

    18,355   771
Chinadive Watersports, Inc. Class A

    13,600   144,702
Chinasoft International, Ltd.

    248,000   266,679
Chinese Universe Publishing and Media Group Co., Ltd. Class A

    191,800   308,987
Chlitina Holding, Ltd.

    2,000   16,647
Chongqing Brewery Co., Ltd. Class A

    27,511   466,637
Chongqing Changan Automobile Co., Ltd. Class A (a)

    10,100   21,843
Chongqing Changan Automobile Co., Ltd. Class B (a)

    1,093,500   821,414
Chongqing Department Store Co., Ltd. Class A

    24,800   114,188
Chongqing Fuling Electric Power Industrial Co., Ltd. Class A

    5,180   15,024
Chongqing Gas Group Corp., Ltd. Class A

    151,700   268,201
Chongqing Machinery & Electric Co., Ltd. Class H

    138,000   9,585
Chongqing Zhifei Biological Products Co., Ltd. Class A

    110,700   2,910,236
Chow Tai Seng Jewellery Co., Ltd. Class A

    118,162   629,962
CIFI Holdings Group Co., Ltd.

    1,758,447   1,705,418
CIMC Enric Holdings, Ltd.

    10,000   7,139
Citic Pacific Special Steel Group Co., Ltd. Class A

    46,950   188,911
CITIC Resources Holdings, Ltd. (a)

    2,066,000   85,038
CITIC Securities Co., Ltd. Class A

    532,200   1,937,795
CITIC Securities Co., Ltd. Class H (b)

    1,412,500   3,252,159
CITIC Telecom International Holdings, Ltd.

    1,375,000   486,369
CITIC, Ltd.

    4,261,961   4,034,759
CMST Development Co., Ltd. Class A (a)

    255,300   199,611
CNHTC Jinan Truck Co., Ltd. Class A

    122,500   713,208
CNNC Hua Yuan Titanium Dioxide Co., Ltd. Class A

    975,200   1,367,408
COFCO Biotechnology Co., Ltd. Class L

    153,200   209,678
Cogobuy Group (a)(c)

    64,000   19,181
See accompanying notes to financial statements.
14


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Colour Life Services Group Co., Ltd. (b)

    69,000   $ 30,176
Comtec Solar Systems Group, Ltd. (a)

    211,500   9,250
Contemporary Amperex Technology Co., Ltd. Class A

    135,093   6,633,377
COSCO SHIPPING Development Co., Ltd. Class H

    8,279,117   1,352,440
COSCO SHIPPING Energy Transportation Co., Ltd. Class H

    2,338,000   1,025,485
COSCO SHIPPING Holdings Co., Ltd. Class H (a)

    3,899,425   5,015,692
COSCO SHIPPING Ports, Ltd.

    3,006,050   2,188,482
Cosmo Lady China Holdings Co., Ltd. (a)(c)

    71,000   11,142
Country Garden Holdings Co., Ltd.

    5,817,514   7,467,897
Country Garden Services Holdings Co., Ltd.

    939,000   9,517,484
CQ Pharmaceutical Holding Co., Ltd. Class A

    572,500   451,983
CSC Financial Co., Ltd. Class A

    159,200   771,833
CSG Holding Co., Ltd. Class B

    719,345   276,655
CSPC Pharmaceutical Group, Ltd.

    5,828,960   7,047,730
CSSC Offshore and Marine Engineering Group Co., Ltd. Class A (a)

    131,500   490,229
CSSC Science & Technology Co., Ltd. Class A

    151,300   264,035
CStone Pharmaceuticals (a)(b)(c)

    64,500   76,742
CTS International Logistics Corp., Ltd. Class A

    314,290   616,011
D&O Home Collection Co., Ltd. Class A

    106,000   293,708
Da An Gene Co., Ltd. of Sun Yat-Sen University Class A

    191,012   885,889
Dada Nexus, Ltd. ADR (a)

    1,509   40,954
Dalian Huarui Heavy Industry Group Co., Ltd. Class A

    393,000   213,235
Daqin Railway Co., Ltd. Class A

    146,000   155,987
Daqo New Energy Corp. ADR (a)

    44,571   3,365,110
DaShenLin Pharmaceutical Group Co., Ltd. Class A

    30,595   391,414
Datang International Power Generation Co., Ltd. Class H

    8,284,000   1,321,272
Dazhong Transportation Group Co., Ltd. Class B

    2,667,950   787,045
Deppon Logistics Co., Ltd. Class A

    122,400   239,905
DHC Software Co., Ltd. Class A

    153,400   173,946
Digital China Group Co., Ltd. Class A

    166,900   470,847
Digital China Information Service Co., Ltd. Class A

    127,000   284,536
Do-Fluoride Chemicals Co., Ltd. Class A

    117,300   357,378
Dongfang Electric Corp., Ltd. Class A

    131,700   255,122
Dongfang Electric Corp., Ltd. Class H (b)

    234,000   215,807
Dongfeng Motor Group Co., Ltd. Class H

    2,694,657   2,502,482
Dongjiang Environmental Co., Ltd. Class A

    295,800   386,814
Dongyue Group, Ltd.

    44,000   33,844
Double Medical Technology, Inc. Class A

    110,000   839,770
DouYu International Holdings, Ltd. ADR (a)

    61,077   635,812
East Money Information Co., Ltd. Class A

    308,920   1,283,479
Eastern Communications Co., Ltd. Class B

    374,700   172,362
See accompanying notes to financial statements.
15


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2021 (Unaudited)

Security Description     Shares   Value
Easysight Supply Chain Management Co., Ltd. Class A (a)

    150,900   $ 191,350
E-Commodities Holdings, Ltd. (a)

    6,250   277
Eoptolink Technology, Inc., Ltd. Class A

    23,220   144,355
ESR Cayman, Ltd. (a)(c)

    494,200   1,617,785
Essex Bio-technology, Ltd.