Semi-Annual Report
March 31, 2022
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 https://www.ssga.com/spdrs. 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

79

143

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281
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
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Table of Contents
SPDR Portfolio Emerging Markets ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of March 31, 2022

     
  Description % of Net Assets  
  Taiwan Semiconductor Manufacturing Co., Ltd. 5.0%  
  Tencent Holdings, Ltd. 3.7  
  Alibaba Group Holding, Ltd. ADR 2.6  
  Reliance Industries, Ltd. GDR 1.5  
  Infosys, Ltd. ADR 1.3  
  Meituan Class B 1.0  
  China Construction Bank Corp. Class H 1.0  
  Vale SA ADR 0.9  
  Housing Development Finance Corp., Ltd. 0.8  
  Tata Consultancy Services, Ltd. 0.7  
  TOTAL 18.5%  
(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, 2022

     
  Description % of Net Assets  
  Nestle SA 1.5%  
  ASML Holding NV 1.3  
  Samsung Electronics Co., Ltd. GDR 1.2  
  Roche Holding AG 1.2  
  Shell PLC 0.9  
  Toyota Motor Corp. 0.9  
  Novartis AG 0.9  
  AstraZeneca PLC 0.9  
  Novo Nordisk A/S Class B 0.8  
  LVMH Moet Hennessy Louis Vuitton SE 0.8  
  TOTAL 10.4%  
(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, 2022

     
  Description % of Net Assets  
  Apple, Inc. 3.9%  
  Microsoft Corp. 3.1  
  Amazon.com, Inc. 2.0  
  Alphabet, Inc. Class C 1.2  
  Tesla, Inc. 1.2  
  Alphabet, Inc. Class A 1.1  
  NVIDIA Corp. 0.9  
  UnitedHealth Group, Inc. 0.8  
  JPMorgan Chase & Co. 0.7  
  Meta Platforms, Inc. Class A 0.7  
  TOTAL 15.6%  
(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.
3


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

     
  Description % of Net Assets  
  Nestle SA 2.9%  
  Roche Holding AG 2.2  
  ASML Holding NV 2.2  
  Novartis AG 1.7  
  AstraZeneca PLC 1.7  
  LVMH Moet Hennessy Louis Vuitton SE 1.5  
  Novo Nordisk A/S Class B 1.5  
  Linde PLC 1.3  
  HSBC Holdings PLC 1.2  
  TotalEnergies SE 1.1  
  TOTAL 17.3%  
(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 PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)

Security Description     Shares   Value
COMMON STOCKS — 99.5%        
BRAZIL — 6.7%          
Afya, Ltd. Class A (a)(b)

    12,164   $ 175,283
Ambev SA ADR (a)(b)

    4,356,440   14,071,301
Americanas SA

    663,386   4,558,035
Americanas SA RCP

    15,397   104,073
Anima Holding SA (a)

    117,193   179,047
Arco Platform, Ltd. Class A (a)(b)

    10,963   231,319
Atacadao SA

    23,117   109,554
Auren Energia SA

    89,496   301,149
Azul SA Preference Shares (a)

    117,858   593,265
B3 SA - Brasil Bolsa Balcao

    6,034,104   19,948,816
Banco Bradesco SA ADR

    5,419,254   25,145,339
Banco Bradesco SA

    397,911   1,529,863
Banco BTG Pactual SA 

    544,806   2,985,458
Banco do Brasil SA

    1,064,271   7,771,589
Banco Inter SA Preference Shares (c)

    208,088   314,412
Banco Inter SA (d)

    322,995   1,440,986
Banco Inter SA (d)

    44,757   64,235
Banco Pan SA Preference Shares

    451,441   1,006,063
Banco Santander Brasil SA

    46,514   360,996
BB Seguridade Participacoes SA

    631,765   3,398,166
BR Malls Participacoes SA (a)

    1,310,467   2,559,188
Bradespar SA Preference Shares

    459,920   3,201,665
Brasil Brokers Participacoes SA (a)

    6,824   1,551
Braskem SA ADR

    146,427   2,729,399
BRF SA ADR (a)

    647,806   2,571,790
CCR SA

    634,378   1,828,929
Centrais Eletricas Brasileiras SA ADR

    595,408   4,709,677
Cia Brasileira de Distribuicao ADR

    282,039   1,421,477
Cia de Locacao das Americas

    127,375   728,018
Cia de Saneamento Basico do Estado de Sao Paulo

    577,760   5,800,762
Cia Energetica de Minas Gerais ADR (b)

    1,888,573   6,081,205
Cia Siderurgica Nacional SA ADR (a)(b)

    757,672   4,106,582
Cielo SA

    1,326,728   868,301
Cogna Educacao (a)

    1,574,377   937,612
Construtora Tenda SA

    1,652   2,983
Cosan SA

    980,818   4,881,437
Cosan SA ADR (b)

    38,550   763,290
CVC Brasil Operadora e Agencia de Viagens SA (a)

    79,957   280,828
Cyrela Brazil Realty SA Empreendimentos e Participacoes

    550,475   2,026,075
Dexco SA

    550,165   1,699,602
See accompanying notes to financial statements.
5


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
Embraer SA (a)

    981,993   $ 3,091,492
Eneva SA (a)

    919,086   2,858,635
Engie Brasil Energia SA

    99,516   905,538
Equatorial Energia SA

    237,509   1,359,993
Eternit SA

    8,716   29,806
Gafisa SA (a)

    29,813   12,297
Gerdau SA ADR (b)

    1,372,969   8,828,191
Gol Linhas Aereas Inteligentes SA Preference Shares (a)

    26,428   95,658
Grupo De Mona Soma SA (a)

    62,075   199,081
Grupo SBF SA (a)

    36,747   195,646
Hapvida Participacoes e Investimentos SA (c)

    2,961,908   7,379,915
Hypera SA

    88,862   723,881
IRB Brasil Resseguros SA (a)

    413,839   304,809
Itau Unibanco Holding SA Preference Shares ADR (a)

    4,770,893   27,241,799
Itausa SA Preference Shares

    6,236,538   14,108,478
Itausa SA

    419,690   960,917
Kepler Weber SA

    11,470   131,066
Klabin SA

    370,387   1,880,014
Localiza Rent a Car SA

    375,513   4,828,301
Locaweb Servicos de Internet SA (a)(c)

    133,338   283,402
LOG Commercial Properties e Participacoes SA

    3,493   21,302
Log-in Logistica Intermodal SA (a)

    1,486   8,815
Lojas Renner SA

    1,203,768   6,966,323
Magazine Luiza SA

    2,071,086   2,972,423
Marcopolo SA Preference Shares

    458,987   257,893
Marfrig Global Foods SA

    218,411   983,595
Meliuz SA (c)

    196,418   105,816
Metalurgica Gerdau SA Preference Shares

    1,847,687   4,767,020
Mills Estruturas e Servicos de Engenharia SA

    36,450   58,450
Minerva SA

    44,576   118,758
MMX Mineracao e Metalicos SA (a)

    20,968   61,775
MRV Engenharia e Participacoes SA

    114,902   310,713
Natura & Co. Holding SA (a)

    722,337   3,959,823
Nexa Resources SA (b)

    19,574   182,821
Odontoprev SA

    25,965   68,519
Oi SA ADR (a)(b)

    814,603   730,169
Pagseguro Digital, Ltd. Class A (a)(b)

    140,375   2,814,519
PDG Realty SA Empreendimentos e Participacoes (a)

    71,331   24,468
Petro Rio SA (a)

    235,126   1,178,116
Petroleo Brasileiro SA Preference Shares ADR (d)

    2,196,370   30,705,253
Petroleo Brasileiro SA ADR (d)

    1,204,460   17,826,008
Positivo Tecnologia SA

    46,840   91,177
See accompanying notes to financial statements.
6


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
Profarma Distribuidora de Produtos Farmaceuticos SA

    12,120   $ 11,350
Qualicorp Consultoria e Corretora de Seguros SA

    102,412   345,472
Raia Drogasil SA

    744,894   3,752,725
Rede D'Or Sao Luiz SA (c)

    557,731   5,856,707
Restoque Comercio e Confeccoes de Roupas SA (a)

    8,687   3,473
Rodobens Negocios Imobiliarios SA

    59,883   109,635
Rossi Residencial SA (a)

    107,496   183,008
Rumo SA (a)

    707,824   2,763,105
Sendas Distribuidora SA ADR (b)

    282,039   4,845,430
StoneCo, Ltd. Class A (a)

    169,432   1,982,354
Sul America SA

    80,139   579,800
Suzano SA

    240,901   2,795,840
Suzano SA ADR

    228,725   2,657,785
T4F Entretenimento SA (a)

    137,829   136,322
Telefonica Brasil SA

    623,755   7,047,508
TIM SA ADR (b)

    288,672   4,185,744
TOTVS SA

    250,828   1,920,290
Ultrapar Participacoes SA

    683,651   2,035,725
Usinas Siderurgicas de Minas Gerais SA Usiminas ADR

    959,959   2,870,277
Vale SA ADR (b)

    2,873,816   57,447,582
Vale SA

    129,941   2,614,160
Vasta Platform, Ltd. (a)(b)

    8,717   49,861
Via S/A (a)

    1,140,015   1,000,403
Vibra Energia SA

    448,898   2,208,617
WEG SA

    1,513,798   11,108,311
XP, Inc. Class A (a)

    203,589   6,128,029
YDUQS Participacoes SA

    301,017   1,326,465
          407,087,973
CANADA — 0.0% (e)          
Atlas Corp. (b)

    12,446   182,707
CHILE — 0.6%          
AntarChile SA

    228,253   1,885,370
Banco de Chile

    12,611,614   1,350,068
Banco Santander Chile

    5,209,973   293,362
CAP SA

    9,170   142,166
Cencosud SA

    102,529   201,951
Empresas COPEC SA

    522,757   4,317,972
Empresas Iansa SA (a)

    3,039,552   38,626
Enel Americas SA ADR (b)

    623,947   3,724,964
Enel Chile SA ADR

    1,178,430   1,861,919
Enjoy SA (a)

    7,579,900   26,306
See accompanying notes to financial statements.
7


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
Falabella SA

    1,667,520   $ 5,329,156
Multiexport Foods SA (a)

    2,678,766   1,007,475
Parque Arauco SA (a)

    2,996,432   3,137,605
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares

    120,363   10,402,373
          33,719,313
CHINA — 32.3%          
111, Inc. ADR (a)

    36,543   97,204
17 Education & Technology Group, Inc. (a)(b)

    59,337   157,836
360 DigiTech, Inc. ADR

    75,517   1,162,207
360 Security Technology, Inc. Class A (a)

    128,000   201,232
3SBio, Inc. (a)(c)

    771,000   630,079
51job, Inc. ADR (a)(b)

    6,299   368,806
9F, Inc. ADR (a)

    97,034   85,875
AAC Technologies Holdings, Inc. (a)(b)

    798,632   1,935,546
Addsino Co., Ltd. Class A

    309,300   530,109
Advanced Micro-Fabrication Equipment, Inc. China Class A (a)

    47,317   867,986
Advanced Technology & Materials Co., Ltd. Class A

    161,800   204,158
AECC Aviation Power Co., Ltd. Class A

    142,400   1,007,193
Agile Group Holdings, Ltd. (b)

    3,023,626   1,532,778
Agora, Inc. ADR (a)

    45,326   450,540
Agricultural Bank of China, Ltd. Class A

    5,343,400   2,592,535
Agricultural Bank of China, Ltd. Class H

    27,913,000   10,728,367
Aier Eye Hospital Group Co., Ltd. Class A

    217,060   1,078,786
Air China, Ltd. Class H (a)(b)

    3,115,744   2,184,212
Airtac International Group

    82,669   2,686,241
AK Medical Holdings, Ltd. (b)(c)

    334,000   198,744
Akeso, Inc. (a)(b)(c)

    367,000   781,669
Alibaba Group Holding, Ltd. ADR (a)

    1,432,433   155,848,710
A-Living Smart City Services Co., Ltd. (c)

    84,500   118,257
All Winner Technology Co., Ltd. Class A

    32,600   276,900
Alpha Group Class A (a)

    469,100   366,525
Alphamab Oncology (a)(b)(c)

    228,000   231,453
Aluminum Corp. of China, Ltd. Class H (a)(b)

    6,455,495   3,791,822
Amoy Diagnostics Co., Ltd. Class A

    10,000   80,528
An Hui Wenergy Co., Ltd. Class A

    294,800   182,506
Angang Steel Co., Ltd. Class H

    3,367,231   1,552,175
Anhui Anke Biotechnology Group Co., Ltd. Class A

    17,640   27,371
Anhui Conch Cement Co., Ltd. Class A

    127,300   791,903
Anhui Conch Cement Co., Ltd. Class H

    1,586,010   8,161,530
Anhui Construction Engineering Group Co., Ltd. Class A

    466,600   374,127
Anhui Expressway Co., Ltd. Class H

    8,000   7,815
See accompanying notes to financial statements.
8


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
Anhui Guangxin Agrochemical Co., Ltd. Class A

    277,300   $ 1,393,467
Anhui Gujing Distillery Co., Ltd. Class A

    7,700   207,853
Anhui Gujing Distillery Co., Ltd. Class B

    132,600   1,714,179
Anhui Honglu Steel Construction Group Co., Ltd. Class A

    56,800   378,213
Anhui Jiangnan Chemical Industry Co., Ltd. Class A

    532,200   539,905
Anhui Jinhe Industrial Co., Ltd. Class A

    126,900   788,015
Anhui Kouzi Distillery Co., Ltd. Class A

    16,300   138,758
Anhui Transport Consulting & Design Institute Co., Ltd. Class A

    636,917   983,253
Anhui Yingjia Distillery Co., Ltd. Class A

    11,900   101,396
Anji Microelectronics Technology Shanghai Co., Ltd. Class A

    11,918   531,646
Anker Innovations Technology Co., Ltd. Class A

    5,900   62,903
ANTA Sports Products, Ltd.

    1,009,106   12,679,218
Anton Oilfield Services Group (a)(b)

    130,000   7,304
Aoshikang Technology Co., Ltd. Class A

    13,700   132,574
Aotecar New Energy Technology Co., Ltd. Class A (a)

    239,993   108,124
Apeloa Pharmaceutical Co., Ltd. Class A

    255,700   1,259,146
Archermind Technology Nanjing Co., Ltd. Class A

    10,500   83,364
Ascentage Pharma Group International (a)(b)(c)

    64,500   139,025
Asian Citrus Holdings, Ltd. (a)

    550,000   8,779
Asymchem Laboratories Tianjin Co., Ltd. Class A

    18,400   1,063,751
Autel Intelligent Technology Corp., Ltd. Class A

    8,174   49,973
Autobio Diagnostics Co., Ltd. Class A

    30,030   227,823
Autohome, Inc. ADR

    42,499   1,292,395
Avary Holding Shenzhen Co., Ltd. Class A

    122,400   555,689
AVIC Industry-Finance Holdings Co., Ltd. Class A

    285,400   186,128
AviChina Industry & Technology Co., Ltd. Class H

    3,029,000   1,682,477
Bafang Electric Suzhou Co., Ltd. Class A

    9,514   261,541
BAIC Motor Corp., Ltd. Class H (c)

    6,500   2,183
Baidu, Inc. ADR (a)

    210,887   27,900,350
Baidu, Inc. Class A (a)

    47,950   866,374
BAIOO Family Interactive, Ltd. (c)

    2,728,000   167,204
Bank of China, Ltd. Class H

    62,432,054   25,111,854
Bank of Communications Co., Ltd. Class H

    21,244,303   15,245,420
Bank of Ningbo Co., Ltd. Class A

    310,190   1,827,004
Baoshan Iron & Steel Co., Ltd. Class A

    778,100   827,362
Baozun, Inc. ADR (a)

    17,798   152,707
BBMG Corp. Class H

    1,412,000   228,981
BeiGene, Ltd. ADR (a)(b)

    37,737   7,117,198
Beijing BDStar Navigation Co., Ltd. Class A (a)

    137,900   719,901
Beijing Capital International Airport Co., Ltd. Class H (a)

    3,499,490   2,051,058
Beijing Career International Co., Ltd. Class A

    30,600   223,905
See accompanying notes to financial statements.
9


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

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

    14,100   $ 109,658
Beijing Chunlizhengda Medical Instruments Co., Ltd. Class H (a)

    23,000   27,666
Beijing Ctrowell Technology Corp., Ltd. Class A

    97,506   143,308
Beijing Dabeinong Technology Group Co., Ltd. Class A

    437,200   599,178
Beijing Easpring Material Technology Co., Ltd. Class A

    15,300   181,245
Beijing Enterprises Clean Energy Group, Ltd. (a)(b)

    27,834,856   266,570
Beijing Enterprises Holdings, Ltd.

    766,500   2,432,199
Beijing Enterprises Water Group, Ltd.

    6,070,000   1,867,955
Beijing GeoEnviron Engineering & Technology, Inc. Class A

    818,330   2,004,542
Beijing Jingneng Clean Energy Co., Ltd. Class H

    136,000   30,911
Beijing Jingyuntong Technology Co., Ltd. Class A (a)

    185,800   212,783
Beijing Kingsoft Office Software, Inc. Class A

    16,320   482,445
Beijing Roborock Technology Co., Ltd. Class A

    2,274   198,510
Beijing Shiji Information Technology Co., Ltd. Class A

    175,720   550,846
Beijing Shougang Co., Ltd. Class A

    116,100   95,102
Beijing Shunxin Agriculture Co., Ltd. Class A

    26,900   98,988
Beijing SL Pharmaceutical Co., Ltd. Class A

    285,650   481,476
Beijing Strong Biotechnologies, Inc. Class A

    9,100   26,176
Beijing Tiantan Biological Products Corp., Ltd. Class A

    217,023   843,737
Beijing Tongtech Co., Ltd. Class A

    29,600   98,432
Beijing Wantai Biological Pharmacy Enterprise Co., Ltd. Class A

    14,800   648,131
Beijing Yuanliu Hongyuan Electronic Technology Co., Ltd. Class A

    11,100   224,619
Beijing Zhidemai Technology Co., Ltd. Class A

    7,200   62,154
Beken Corp. Class A

    25,764   145,742
Bengang Steel Plates Co., Ltd. Class A

    312,100   211,898
Berry Genomics Co., Ltd. Class A (a)

    130,500   348,652
BEST, Inc. ADR (a)(b)

    172,523   111,277
Bethel Automotive Safety Systems Co., Ltd. Class A

    26,600   272,407
Betta Pharmaceuticals Co., Ltd. Class A

    1,400   12,330
BGI Genomics Co., Ltd. Class A

    20,100   255,489
Biem.L.Fdlkk Garment Co., Ltd. Class A

    195,463   727,278
Bilibili, Inc. ADR (a)(b)

    163,005   4,169,668
Bit Digital, Inc. (a)

    25,036   90,130
BIT Mining, Ltd. ADR (a)(b)

    48,930   136,515
Blue Sail Medical Co., Ltd. Class A

    138,900   288,823
BOE Technology Group Co., Ltd. Class A

    1,116,200   757,837
BOE Technology Group Co., Ltd. Class B

    925,700   417,259
Bosideng International Holdings, Ltd. (b)

    2,920,000   1,364,660
Boyaa Interactive International, Ltd. (a)

    64,000   3,841
B-Soft Co., Ltd. Class A

    251,219   300,366
See accompanying notes to financial statements.
10


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
BYD Co., Ltd. Class A

    124,800   $ 4,517,736
BYD Co., Ltd. Class H

    636,211   18,229,914
BYD Electronic International Co., Ltd. (b)

    732,500   1,477,833
C&S Paper Co., Ltd. Class A

    7,400   13,988
C.banner International Holdings, Ltd. (a)

    12,000   421
Cabbeen Fashion, Ltd.

    1,416,000   491,805
Caissa Tosun Development Co., Ltd. Class A (a)

    101,506   161,019
Caitong Securities Co., Ltd. Class A

    156,800   209,459
Canaan, Inc. (a)(b)

    93,423   507,287
CanSino Biologics, Inc. Class A (a)

    11,507   420,702
CanSino Biologics, Inc. Class H (a)(b)(c)

    34,400   553,025
CECEP Wind-Power Corp. Class A

    611,800   442,363
Central China Securities Co., Ltd. Class A

    519,100   378,607
CETC Digital Technology Co., Ltd. Class A

    128,500   528,323
CGN Mining Co., Ltd. (b)

    325,000   35,690
CGN New Energy Holdings Co., Ltd. (b)

    364,000   159,890
CGN Nuclear Technology Development Co., Ltd. Class A

    289,400   477,311
CGN Power Co., Ltd. Class H (c)

    10,810,000   2,829,698
Chacha Food Co., Ltd. Class A

    30,900   261,633
Changchun High & New Technology Industry Group, Inc. Class A

    11,925   315,309
Changjiang Securities Co., Ltd. Class A

    458,400   449,872
Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Class A

    27,200   556,803
Chanjet Information Technology Co., Ltd. Class H

    3,900   3,884
Chaowei Power Holdings, Ltd.

    75,000   15,419
Cheetah Mobile, Inc. ADR (a)(b)

    12,344   11,968
ChemPartner PharmaTech Co., Ltd. Class A

    51,800   110,567
Chengdu Fusen Noble-House Industrial Co., Ltd. Class A

    142,400   265,818
Chengdu Hongqi Chain Co., Ltd. Class A

    958,086   730,476
Chengdu Kanghong Pharmaceutical Group Co., Ltd. Class A

    23,400   59,494
Chengtun Mining Group Co., Ltd. Class A

    100,600   135,653
Chengxin Lithium Group Co., Ltd. Class A (a)

    40,500   324,288
Chifeng Jilong Gold Mining Co., Ltd. Class A (a)

    117,700   336,148
China Aerospace International Holdings, Ltd.

    2,522,000   167,459
China Aircraft Leasing Group Holdings, Ltd. (b)

    6,500   4,523
China Aoyuan Group, Ltd. (b)

    1,512,000   227,821
China Baoan Group Co., Ltd. Class A

    326,800   576,061
China Bohai Bank Co., Ltd. Class H (b)(c)

    42,500   7,055
China Chengtong Development Group, Ltd.

    3,798,000   80,505
China Cinda Asset Management Co., Ltd. Class H

    12,717,000   2,175,956
China CITIC Bank Corp., Ltd. Class H

    11,589,694   5,875,206
China Coal Energy Co., Ltd. Class H

    4,366,750   3,284,235
See accompanying notes to financial statements.
11


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
China Common Rich Renewable Energy Investment, Ltd. (f)

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

    152,000   68,902
China Conch Environment Protection Holdings, Ltd. (a)

    1,537,200   1,923,610
China Conch Venture Holdings, Ltd.

    1,557,200   4,553,449
China Construction Bank Corp. Class H

    81,157,734   61,038,774
China CSSC Holdings, Ltd. Class A

    111,900   304,600
China Datang Corp. Renewable Power Co., Ltd. Class H (b)

    1,408,000   584,314
China Dili Group (a)

    2,471,100   681,561
China Dongxiang Group Co., Ltd.

    1,175,000   75,019
China East Education Holdings, Ltd. (b)(c)

    31,500   18,382
China Eastern Airlines Corp., Ltd. Class H (a)(b)

    144,000   48,543
China Education Group Holdings, Ltd.

    163,000   142,365
China Electronics Huada Technology Co., Ltd. (a)

    134,000   9,924
China Energine International Holdings, Ltd. (a)(b)

    1,430,000   27,938
China Everbright Bank Co., Ltd. Class A

    628,500   326,720
China Everbright Environment Group, Ltd.

    3,398,111   2,056,726
China Everbright, Ltd.

    24,000   23,781
China Evergrande Group (b)

    2,016,737   424,907
China Fangda Group Co., Ltd. Class B (a)

    173,367   47,595
China Feihe, Ltd. (c)

    1,878,000   1,860,878
China Financial Services Holdings, Ltd. (a)

    86,100   18,690
China Foods, Ltd.

    16,000   5,537
China Galaxy Securities Co., Ltd. Class A

    178,100   279,154
China Galaxy Securities Co., Ltd. Class H

    3,103,400   1,739,654
China Gas Holdings, Ltd.

    2,409,600   3,089,152
China Great Wall Securities Co., Ltd. Class A

    143,700   215,501
China Greatwall Technology Group Co., Ltd. Class A

    184,500   334,524
China Hanking Holdings, Ltd.

    1,314,000   255,035
China Harmony Auto Holding, Ltd.

    7,000   3,566
China High Speed Railway Technology Co., Ltd. Class A (a)

    812,900   325,257
China Hongqiao Group, Ltd. (b)

    1,105,000   1,475,892
China Huarong Energy Co., Ltd. (a)

    100,000   945
China Index Holdings, Ltd. ADR (a)

    5,925   6,518
China International Capital Corp., Ltd. Class A

    66,500   435,889
China International Capital Corp., Ltd. Class H (c)

    629,200   1,404,400
China International Marine Containers Group Co., Ltd. Class H (b)

    150,540   246,434
China Jinmao Holdings Group, Ltd. (a)

    880,000   261,818
China Jushi Co., Ltd. Class A

    93,800   225,187
China Kings Resources Group Co., Ltd. Class A

    9,620   44,690
China Lesso Group Holdings, Ltd.

    1,471,000   1,788,176
China Life Insurance Co., Ltd. Class H

    7,408,752   11,390,221
See accompanying notes to financial statements.
12


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
China Literature, Ltd. (a)(b)(c)

    201,600   $ 840,493
China Longyuan Power Group Corp., Ltd. Class H

    3,030,000   6,902,367
China Medical System Holdings, Ltd.

    1,557,000   2,453,377
China Meidong Auto Holdings, Ltd. (b)

    152,000   582,271
China Mengniu Dairy Co., Ltd. (a)

    2,585,818   13,933,846
China Merchants Bank Co., Ltd. Class A

    1,001,462   7,383,063
China Merchants Bank Co., Ltd. Class H

    3,356,899   26,383,167
China Merchants China Direct Investments, Ltd.

    4,000   5,072
China Merchants Port Holdings Co., Ltd.

    2,458,879   4,458,473
China Merchants Securities Co., Ltd. Class A

    436,741   995,517
China Merchants Shekou Industrial Zone Holdings Co., Ltd. Class A

    181,957   434,534
China Minmetals Rare Earth Co., Ltd. Class A

    37,900   173,915
China Minsheng Banking Corp., Ltd. Class H (b)

    8,262,379   3,112,345
China Modern Dairy Holdings, Ltd. (b)

    93,000   15,082
China Molybdenum Co., Ltd. Class A

    1,730,700   1,420,417
China Molybdenum Co., Ltd. Class H

    1,092,000   570,304
China National Accord Medicines Corp., Ltd. Class B

    303,195   687,971
China National Building Material Co., Ltd. Class H

    3,287,400   4,088,576
China National Medicines Corp., Ltd. Class A

    171,295   791,431
China Nonferrous Mining Corp., Ltd. (b)

    242,000   121,751
China Northern Rare Earth Group High-Tech Co., Ltd. Class A

    194,600   1,187,262
China NT Pharma Group Co., Ltd. (a)

    1,614,662   13,814
China Ocean Industry Group, Ltd. (a)

    57,625   920
China Oil & Gas Group, Ltd. (a)

    132,000   6,152
China Oilfield Services, Ltd. Class H

    2,498,422   2,561,781
China Online Education Group ADR (a)

    1,445   2,529
China Overseas Grand Oceans Group, Ltd.

    109,500   64,318
China Overseas Land & Investment, Ltd.

    3,853,494   11,538,733
China Overseas Property Holdings, Ltd.

    62,066   73,864
China Pacific Insurance Group Co., Ltd. Class A

    287,838   1,039,247
China Pacific Insurance Group Co., Ltd. Class H

    2,744,613   6,700,845
China Petroleum & Chemical Corp. Class H

    23,967,492   12,027,510
China Power International Development, Ltd.

    6,604,511   3,516,716
China Railway Group, Ltd. Class H

    6,214,487   3,483,617
China Rare Earth Holdings, Ltd. (a)

    2,343,200   206,452
China Resources Beer Holdings Co., Ltd.

    906,930   5,564,521
China Resources Boya Bio-pharmaceutical Group Co., Ltd. Class A

    19,825   91,941
China Resources Cement Holdings, Ltd.

    738,000   615,361
China Resources Gas Group, Ltd.

    434,000   1,842,646
China Resources Land, Ltd.

    2,882,820   13,436,031
China Resources Mixc Lifestyle Services, Ltd. (c)

    248,400   1,229,091
See accompanying notes to financial statements.
13


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
China Resources Power Holdings Co., Ltd.

    2,133,155   $ 4,014,953
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. Class A

    24,600   175,778
China Sanjiang Fine Chemicals Co., Ltd.

    73,000   16,499
China Science Publishing & Media, Ltd. Class A

    142,600   198,801
China Shenhua Energy Co., Ltd. Class H

    3,989,588   12,786,814
China Singyes Solar Technologies Holdings, Ltd. (b)

    9,600   1,410
China South City Holdings, Ltd.

    2,876,000   253,395
China Southern Airlines Co., Ltd. Class H (a)(b)

    2,944,000   1,714,207
China State Construction Engineering Corp., Ltd. Class A

    1,313,800   1,125,860
China Suntien Green Energy Corp., Ltd. Class A

    214,800   442,925
China Taiping Insurance Holdings Co., Ltd.

    1,239,835   1,518,249
China Testing & Certification International Group Co., Ltd. Class A

    866,145   1,960,666
China Tianying, Inc. Class A (a)

    631,700   511,482
China Tourism Group Duty Free Corp., Ltd. Class A

    151,900   3,933,114
China Tower Corp., Ltd. Class H (c)

    31,288,000   3,515,775
China TransInfo Technology Co., Ltd. Class A

    327,300   551,678
China Travel International Investment Hong Kong, Ltd. (a)(b)

    9,158,000   1,742,399
China Vanke Co., Ltd. Class A

    490,200   1,478,762
China Vanke Co., Ltd. Class H

    1,233,000   2,793,041
China World Trade Center Co., Ltd. Class A

    125,500   320,269
China Yangtze Power Co., Ltd. Class A

    1,406,800   4,875,412
China Yongda Automobiles Services Holdings, Ltd.

    912,500   993,900
China Yuhua Education Corp., Ltd. (c)

    24,000   5,455
China ZhengTong Auto Services Holdings, Ltd. (a)

    38,000   2,475
China Zhenhua Group Science & Technology Co., Ltd. Class A

    144,707   2,584,990
ChinaCache International Holdings, Ltd. ADR (a)(b)(f)

    18,355  
Chinasoft International, Ltd. (a)

    1,074,000   890,040
Chindata Group Holdings, Ltd. ADR (a)(b)

    36,667   231,735
Chinese Universe Publishing & Media Group Co., Ltd. Class A

    209,300   372,896
Chlitina Holding, Ltd.

    2,000   14,170
Chongqing Brewery Co., Ltd. Class A (a)

    27,511   464,707
Chongqing Changan Automobile Co., Ltd. Class A

    134,440   239,947
Chongqing Changan Automobile Co., Ltd. Class B

    1,717,900   666,856
Chongqing Department Store Co., Ltd. Class A

    24,800   102,043
Chongqing Fuling Electric Power Industrial Co., Ltd. Class A

    7,252   16,222
Chongqing Gas Group Corp., Ltd. Class A

    165,400   186,033
Chongqing Iron & Steel Co., Ltd. Class A (a)

    728,500   216,894
Chongqing Machinery & Electric Co., Ltd. Class H

    138,000   11,630
Chongqing Zhifei Biological Products Co., Ltd. Class A

    127,700   2,776,043
Chongyi Zhangyuan Tungsten Industry Co., Ltd. Class A (a)

    66,700   79,959
Chow Tai Seng Jewellery Co., Ltd. Class A

    195,743   417,504
See accompanying notes to financial statements.
14


Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS  (continued)
March 31, 2022 (Unaudited)

Security Description     Shares   Value
CIFI Ever Sunshine Services Group, Ltd. (b)

    192,000   $ 259,877
CIFI Holdings Group Co., Ltd.

    2,179,669   1,283,075
CIMC Enric Holdings, Ltd. (b)

    10,000   12,450
Citic Pacific Special Steel Group Co., Ltd. Class A

    161,350   507,070
CITIC Resources Holdings, Ltd. (a)

    2,334,000   157,956
CITIC Securities Co., Ltd. Class A

    681,170   2,242,632
CITIC Securities Co., Ltd. Class H

    1,797,225   4,149,172
CITIC Telecom International Holdings, Ltd.

    1,545,000   568,174
CITIC, Ltd.

    4,298,961   4,781,259
Client Service International, Inc. Class A

    35,950   118,302
Cloopen Group Holding, Ltd. ADR (a)(b)

    39,250   67,510
CMST Development Co., Ltd. Class A

    290,300   244,657
CNHTC Jinan Truck Co., Ltd. Class A

    188,060   363,790
CNNC Hua Yuan Titanium Dioxide Co., Ltd. Class A

    936,116   1,443,672
COFCO Biotechnology Co., Ltd. Class A

    169,300   254,693
Cogobuy Group (a)(c)

    64,000   16,344
Colour Life Services Group Co., Ltd.

    69,000   5,463
Comtec Solar Systems Group, Ltd. (a)

    211,500   7,832
Connect Biopharma Holdings, Ltd. ADR (a)

    4,963   14,988
Contemporary Amperex Technology Co., Ltd. Class A

    152,093   12,274,105
Continental Aerospace Technologies Holding, Ltd. (a)

    2,394,527   32,105
CooTek Cayman, Inc. ADR (a)(b)

    197,949   50,279
COSCO SHIPPING Development Co., Ltd. Class H

    9,299,117   1,887,989
COSCO SHIPPING Energy Transportation Co., Ltd. Class H (b)

    2,678,000   1,241,303
COSCO SHIPPING Holdings Co., Ltd. Class H (a)(b)

    4,320,040   7,535,274
COSCO SHIPPING Ports, Ltd.

    3,048,974   2,374,894
Cosmo Lady China Holdings Co., Ltd. (a)(b)(c)

    71,000   3,717
Country Garden Holdings Co., Ltd. (b)

    6,698,587   5,157,760
Country Garden Services Holdings Co., Ltd.

    1,224,000   5,251,475
CQ Pharmaceutical Holding Co., Ltd. Class A

    646,500   610,031
Crazy Sports Group, Ltd. (a)(b)

    2,704,200   115,676
Crystal Clear Electronic Material Co., Ltd. Class A