The SPDR S&P Retail ETF (Ticker: XRT), seeks to closely match the returns and characteristics of the S&P Retail Select Industry Index before expenses. The index seeks to provide an effective representation of the retail sub-industry portion of the S&P Total Market Index (TMI). The S&P TMI tracks all the US common stocks regularly traded on the NYSE, American Stock Exchange, NASDAQ National Market and NASDAQ Small Cap Exchanges. The index holds an average of 60 stocks. Constituents are equal weighed at the beginning of each quarter and then float with the market for the rest of the quarter.