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Business Description
SPDR Trust Series 1 issues exchange-traded funds called Standard & Poor's Depositary Receipts or "SPDRs". The SPDR Trust holds all of the common stocks of the Standard & Poors 500 Composite Stock Price Index and intends to provide investment results that, before expenses, correspond to the price and yield of the S&P 500 Index. Initial Index ratio upon inception was 1/10 of SPX.