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Contract Specifications

Select Sector SPDR® Funds
Select Sector Standard & Poor’s Depositary Receipts
Benchmark Sector-Based Equity Portfolios of Companies in the S&P 500®


Product Description
Select Sector SPDR Fund shares are Exchange-traded securities that represent ownership in any of nine Select Sector SPDR Funds, each designed to accumulate and hold a portfolio of common stocks intended to provide investment results that generally correspond to the price performance and dividend yield of a specific Select Sector Index. The Select Sector Indexes together comprise all of the companies included in the Standard & Poor’s 500 Composite Stock Price Index®, and individually represent nine sectors: Basic Industries, Consumer Services, Consumer Staples, Cyclical/Transportation, Energy, Financial, Industrial, Technology and Utilities.

Each Select Sector SPDR is designed to accumulate and hold a portfolio of common stocks intended to provide investment results that generally correspond to the price performance and dividend yield of the related Select Sector Index. Holders of Select Sector SPDRs are entitled to receive proportionate quarterly distributions, if any, corresponding to the dividends that accrue on the stocks in the underlying portfolios, less expenses.

 
Administration
The adviser, administrator, custodian and transfer agent for the Select Sector SPDR Funds is State Street Bank and Trust Company. The value of Select Sector Indexes is calculated by The American Stock Exchange. The distributor for Select Sector SPDRs is ALPS Mutual Fund Services, Inc., a registered broker-dealer.
 
Trading Unit
A round lot is 100 Select Sector SPDRs. Odd lots (i.e., fewer than 100 Select Sector SPDRs) trade as well.
 
Price Quotations
Quotations in dollars and fractions per Select Sector SPDR; fractions of a dollar in minimum increments of 1/64. Example: a quote of 50 1/64 represents a price of $50.0156 (or $5,001.56 for a round lot).
 
Settlement of Trades
Three business days. All Select Sector SPDRs are held in book-entry form only at The Depository Trust Company (DTC).
 
Dividend Equivalent
Dividend equivalent amounts - a pro rata amount (less accumulated expenses) of regular cash dividends for the stocks that have gone ex-dividend - may be paid quarterly. DTC’s Dividend Reinvestment Service will be made available to DTC participant brokers for quarterly reinvestment of cash distributions, in additional whole shares only, received by Select Sector SPDR holders.
 
Net Asset Value
The net asset value (NAV) per Select Sector SPDR is computed each business day at the close of trading, normally 4 p.m. New York time. NAV represents the aggregate closing market value of the underlying portfolio of Select Sector Index securities plus any accrued dividends, minus accumulated expenses on a per Select Sector SPDR share basis.
 
Initial Customer Margin and Short Sales
Select Sector SPDR Funds may be purchased on margin, generally subject to the same terms that apply to common stocks. Select Sector SPDR Fund shares may be sold short on a downtick at any time during trading hours. Note that investors are required to make arrangements to borrow securities before selling short.
 
Symbols
Basic Industries Sector XLB
Financial Sector XLF
     Index Symbol: IXB (Reuters: .IXB2)      Index Symbol: IXM
Consumer Services Sector XLV
Industrial Sector XLI
     Index Symbol: IXV      Index Symbol: IXI (Reuters: .IXI2)
Consumer Staples Sector XLP
Technology Sector XLK
     Index Symbol: IXR      Index Symbol: IXT
Cyclical/Transportation Sector XLY
Utilities Sector XLU
     Index Symbol: IXY      Index Symbol: IXU
Energy Sector XLE
   
     Index Symbol: IXE  
 
 
Prospectus
Select Sector SPDR Funds are offered by prospectus only. A purchaser of any Select Sector SPDR Fund shares in the secondary market must be provided a current prospectus no later than the time confirmation of the first transaction in Select Sector SPDRs is delivered to the purchaser. You can obtain a prospectus by calling the Amex hotline, 800-THE-AMEX. Read it carefully before you invest. The prospectus must also accompany all Select Sector SPDR Fund sales material sent out by members.
 
Trading Hours
9:30 a.m. to 4 p.m. New York time.
 
Creations and Redemptions
Select Sector SPDRs can be created in "creation unit" block sizes of 50,000 Select Sector SPDRs by depositing into The Select Sector SPDR Trust a portfolio of stock closely approximating the composition of the underlying Select Sector Index and a specified amount of cash. Conversely, a creation unit of 50,000 Select Sector SPDRs can be redeemed for a specific portfolio of stocks and specified cash amount. The shares of component stocks in a creation unit are determined by the adviser prior to the opening of trading each business day. The required cash amount is determined on the same day following the close of trading.
 
Basic Industriess Sector SPDR Fund Symbols
XLB Trading Symbol BZP Final Quarterly Dividend Payment
BXV Underlying Trading Value BZS Shares Outstanding
BXN Net Asset Value BXE Dividend Equivalent Payment per Creation Unit
BXD Net Accrued Dividend BXU Cash Component per Creation Unit
CUSIP Number: 81369Y100    

Consumer Services Sector SPDR Fund Symbols
XLV Trading Symbol NZP Final Quarterly Dividend Payment
NXV Underlying Trading Value CZS Shares Outstanding
NZN Net Asset Value NXE Dividend Equivalent Payment per Creation Unit
NVD Net Accrued Dividend NXU Cash Component per Creation Unit
CUSIP Number: 81369Y209    

Consumer Staples Sector SPDR Fund Symbols
XLP Trading Symbol PZP Final Quarterly Dividend Payment
PXV Underlying Trading Value PXS Shares Outstanding
PXN Net Asset Value PIV Dividend Equivalent Payment per Creation Unit
PZD Net Accrued Dividend PXU Cash Component per Creation Unit
CUSIP Number: 81369Y308    

Cyclical/Transportation Sector SPDR Fund Symbols
XLY Trading Symbol YXP Final Quarterly Dividend Payment
YXV Underlying Trading Value YXS Shares Outstanding
YXN Net Asset Value YPE Dividend Equivalent Payment per Creation Unit
YXD Net Accrued Dividend YXU Cash Component per Creation Unit
CUSIP Number: 81369Y407    

Energy Sector SPDR Fund Symbols
XLE Trading Symbol DVB Final Quarterly Dividend Payment
EXV Underlying Trading Value EXS Shares Outstanding
EXN Net Asset Value EPE Dividend Equivalent Payment per Creation Unit
EXD Net Accrued Dividend EXU Cash Component per Creation Unit
CUSIP Number: 81369Y506    

Financial Sector SPDR Fund Symbols
XLF Trading Symbol FXP Final Quarterly Dividend Payment
FXV Underlying Trading Value FXS Shares Outstanding
FZN Net Asset Value FPE Dividend Equivalent Payment per Creation Unit
FXD Net Accrued Dividend FXU Cash Component per Creation Unit
CUSIP Number: 81369Y605    

Industrial Sector SPDR Fund Symbols
XLI Trading Symbol IYP Final Quarterly Dividend Payment
TXV Underlying Trading Value IZS Shares Outstanding
IZN Net Asset Value IPE Dividend Equivalent Payment per Creation Unit
IXD Net Accrued Dividend IZU Cash Component per Creation Unit
CUSIP Number: 81369Y704    

Technology Sector SPDR Fund Symbols
XLK Trading Symbol KXP Final Quarterly Dividend Payment
KXV Underlying Trading Value KXS Shares Outstanding
KXN Net Asset Value KPE Dividend Equivalent Payment per Creation Unit
KXD Net Accrued Dividend KXU Cash Component per Creation Unit
CUSIP Number: 81369Y803    

Utilities Sector SPDR Fund Symbols
XLU Trading Symbol UZP Final Quarterly Dividend Payment
UXV Underlying Trading Value UXS Shares Outstanding
UXN Net Asset Value UPE Dividend Equivalent Payment per Creation Unit
UXD Net Accrued Dividend UXU Cash Component per Creation Unit
CUSIP Number: 81369Y886    


NOTE: Underlying Trading Value is the market value of a Creation Unit’s Deposit Securities, including the Dividend Equivalent Payment through the previous day, and is updated every 15 seconds. The Dividend Equivalent Payment per Creation Unit is an amount intended to represent a Select Sector SPDR Fund’s distribution of dividends on the next divident payment date as if all the portfolio securities of the Fund had been held for the entire dividend period. The Cash Component Per Creation Unit represents the difference between the net asset value of a Creation Unit and the Deposit Securities, and includes the Dividend Equivalent Payment. Net Asset Value, Net Accrued Dividend, Dividend Equivalent Payment Per Creation Unit and Cash Component Per Creation Unit are all as of previous day’s close. Underlying Trading Value, Net Asset Value, Net Accrued Dividends and Final Quarterly Dividend Payment are all on a per-share basis.

"Standard & Poor’s®," "S&P®," "S&P 500®," "Standard & Poor’s 500®","Standard & Poor’s Depositary Receipts®," "SPDRs®," "Select Sector SPDR," "Select Sector SPDRs" and "Select Sector Standard & Poor’s Depositary Receipts" are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use in connection with the listing and trading of Select Sector SPDRs on the Amex. The stocks included in each Select Sector Index (upon which the Products are based) were selected by the index compilation agent in consultation with S&P from the universe of companies represented by the S&P 500 Index. The composition and weighting of the stocks included in each Select Sector Index can be expected to differ from the composition and weighting of stocks included in any similar S&P 500 sector index published and disseminated by S&P. ALPS Mutual Funds Services, Inc., a registered broker-dealer, is distributor for The Select Sector SPD Trust.

Investment returns and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Select Sector SPDR Fund shares may bear greater risk than investments in a broad-market index. Past performance is no guarantee of future results.