SPDR® Refinitiv Global Convertible Bond CHF Hdg UCITS ETF (Acc) GCVC SE

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates raise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

Investing in foreign domiciled securities may involve risk of capital loss from unfavorable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations.

The Fund/share class may use financial derivatives instruments for currency hedging and to manage the portfolio efficiently. The Fund may purchase securities that are not denominated in the share class currency. Hedging should mitigate the impact of exchange rate fluctuations however hedges are sometimes subject to imperfect matching which could generate losses.

NAV
CHF 33,71
as of 06 Feb 2023
Share Class Currency
CHF
1 Day Nav Change
- CHF 0,17 (-0,51%)
as of 06 Feb 2023
Total Fund Assets USD
$1 010,08 M
as of 06 Feb 2023
TER
0,55%
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as of 31 Dec 2022

Fund Objective


The objective of the Fund is to track the performance of the global convertible bond market.


Index Description


The Refinitiv Qualified Global Convertible Monthly Hedged (CHF) index represents the performance achieved when hedging the currency exposure of its parent index, the Refinitiv Qualified Global Convertible Index, to CHF. The index is 100% hedged to CHF by selling forwards of all the currencies in the parent index at each monthly rebalance based on the anticipated exposure to each currency following the rebalance. The Refinitiv Qualified Global Convertible Index is designed to provide a broad measure of the performance of the investable, global convertible bond market.


Fund Information as of 07 Feb 2023

ISIN IE00BDT6FS23
iNAV Ticker
INSPF4C
Inception Date 17 Jul 2018
Countries of Registration Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom
Currency Hedging Monthly
Share Class Currency CHF
Income Treatment Accumulation
Settlement Cycle Redemption Settlement Cycle, DD+3; Subscription Settlement Cycle, DD+3
Trading Cycle DD+1
TER 0,55%
Benchmark Refinitiv Qualified Global Convertible Monthly Hedged (CHF) Index
Minimum Investment 1 Share
Trading Currency CHF
UCITS Compliant Yes
Domicile Ireland
Investment Manager State Street Global Advisors Europe Limited
Sub-Investment Manager(s)

State Street Global Advisors Limited

State Street Global Advisors Trust Company

Fund Umbrella SSGA SPDR ETFs Europe II plc
Replication Method Stratified Sampling
Distribution Frequency -
PEA Eligible No
ISA Eligible Yes
SIPP Eligible Yes
UK Reporting Status Yes
Securities Lending No

Listing and Ticker Information as of 07 Feb 2023

Exchange Trading Currency Listing Date Exchange Ticker SEDOL Code Bloomberg Code Reuters Code
SIX Swiss Exchange (Primary) CHF 18 Jul 2018 GCVC BDT6FS2 GCVC SE GCVC.S

INAV

Estimated NAV per Unit at 4PM, Hong Kong as of
Estimated NAV per Unit as of (Updated every 15 seconds)
As of (Updated every 15 seconds)
INAV TICKER CURRENCY INAV

The Indicative NAV per share should not be viewed as the actual NAV per share. The Indicative NAV per share is provided for reference purposes only and may differ from the actual NAV per share calculated in accordance with the Prospectus.


Fund Characteristics as of 31 Dec 2022

Current Yield 0,74%
Number of Holdings 371
Yield to Maturity 0,01%
Average Maturity in Years 3,17
Average Price $101,10

Fund Market Price as of 06 Feb 2023

Bid Price CHF 33,87
Offer Price CHF 33,96
Closing Price CHF 33,85
Bid/Offer Spread CHF 0,08
Day High CHF 33,95
Day Low CHF 33,79
52 Week High CHF 38,56
52 Week Low CHF 31,18

Fund Net Asset Value as of 06 Feb 2023

NAV CHF 33,71
Share Class Assets CHF 121,03 M
Shares in Issue 3 590 180
Total Fund Assets USD $1 010,08 M

Reference NAVs are calculated for information purposes only. No warranty is provided as to the accuracy of reference NAVs. Reference NAVs are calculated with WM1600 FX (London time) rate applied in the currency indicated.


Fund Performance

  • Fund Inception Date: 17 Jul 2018
  • Index Inception Date: 30 Apr 2018

as of 31 Jan 2023

As Of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
17 Jul 2018
Fund Net 31 Jan 2023 4,75% 4,74% 4,75% -11,20% 6,78% - - 11,80%
Difference 31 Jan 2023 -0,06% -0,15% -0,06% -0,41% -0,75% - - -1,44%
Fund Gross 31 Jan 2023 4,80% 4,89% 4,80% -10,71% 8,56% - - 14,62%
Difference 31 Jan 2023 -0,01% 0,00% -0,01% 0,08% 1,02% - - 1,38%
Index
31 Jan 2023 4,81% 4,89% 4,81% -10,79% 7,54% - - 13,24%

as of 31 Jan 2023

As Of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
17 Jul 2018
Fund Net 31 Jan 2023 4,75% 4,74% 4,75% -11,20% 2,21% - - 2,49%
Difference 31 Jan 2023 -0,06% -0,15% -0,06% -0,41% -0,24% - - -0,29%
Fund Gross 31 Jan 2023 4,80% 4,89% 4,80% -10,71% 2,77% - - 3,05%
Difference 31 Jan 2023 -0,01% 0,00% -0,01% 0,08% 0,32% - - 0,27%
Index
31 Jan 2023 4,81% 4,89% 4,81% -10,79% 2,45% - - 2,78%

as of 31 Jan 2023

2023 (YTD) 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Fund Net 4,75% -19,97% -2,06% 32,49% 11,03% -7,45% - - - - -
Difference -0,06% -0,41% -0,43% 0,34% -0,30% -0,25% - - - - -
Fund Gross 4,80% -19,53% -1,52% 33,22% 11,64% -7,21% - - - - -
Difference -0,01% 0,03% 0,11% 1,07% 0,31% -0,02% - - - - -
Index
4,81% -19,56% -1,63% 32,15% 11,34% -7,19% - - - - -

Performance Gross and Net of All Fees.

Past performance is not an indicator of future performance. The Gross of fees do not reflect and net of fees do reflect commissions and costs incurred on the issue and redemption, or purchases and sale, of units. If the performance is calculated on the basis of Gross/net asset values that are not denominated in the accounting currency of the collective investment scheme, its value may rise or fall as a result of currency fluctuations.

Previous to 29 May 2020, the Fund was known as SPDR® Thomson Reuters Global Convertible Bond CHF Hdg UCITS ETF (Acc).


Deviation & Tracking Error as of 31 Jan 2023

Standard Deviation 14,85%
Tracking Error 0,24%

This calculation is based on the past 3 years performance information.


Top Holdings

Fund Top Holdings as of 31 Dec 2022

Security Name Weight
PALO ALTO NETWORKS 0.375 1,28%
PALO ALTO NETWORKS 0.75 07/01/2023 1,20%
PIONEER NATURAL RESOURCE 0.25 05/15/2025 1,05%
AMERICA MOVIL BV 0 03/02/2024 1,00%
DEXCOM INC 0.75 12/01/2023 0,97%
FORD MOTOR COMPANY 0 0,97%
SOUTHWEST AIRLINES CO 1.25 05/01/2025 0,88%
DISH NETWORK CORP 3.375 08/15/2026 0,86%
PINDUODUO INC 0 12/01/2025 0,83%
SIKA AG 0.15 06/05/2025 0,76%
Download All Holdings: Download Daily Holdings

Sector Allocation

Fund Sector Allocation as of 31 Dec 2022

Sector Weight
Sector Weight
IT 31,56%
Industrials 9,85%
Pharmaceutical 8,53%
Retail/Wholesale 6,59%
Telecom 6,47%
Services 6,28%
Transport 4,76%
Electronics 3,96%
Leisure 3,27%
Steel/Metals 2,80%
Banking/Finance 2,78%
Property 2,47%
Oil & Gas 2,39%
Cash 1,77%
Utilities 1,11%
Construction 1,05%
Food & Drink 0,63%
Chemicals 0,63%
Media 0,45%
Insurance 0,38%
Other 2,27%

Geographical Weights


Maturity Ladder

Fund Maturity Ladder as of 31 Dec 2022

Maturity Weight
0 - 1 Year 8,34%
1 - 2 Years 10,18%
2 - 3 Years 30,70%
3 - 5 Years 41,23%
5 - 7 Years 8,03%
7 - 10 Years 1,07%
20 - 30 Years 0,45%

Quality Breakdown

Fund Quality Breakdown as of 31 Dec 2022

Indicative Ratings* Weight
Indicative Ratings* Weight
AAA 1,17%
AA+ 1,39%
AA 0,56%
AA- 0,60%
A+ 3,92%
A 5,43%
A- 7,28%
BBB+ 6,10%
BBB 9,79%
BBB- 7,47%
BB+ 6,51%
BB 4,13%
BB- 11,79%
B+ 10,14%
B 11,22%
B- 1,86%
CCC 4,94%
C 3,80%
NR 1,89%

*Source: State Street Global Advisors, FinAPU.

FinAPU provides an independent risk assessment platform of issuers based on real time available fundamental information allowing to evaluate issuers and instruments using data from Refinitiv and Fitch Solutions using proprietary risk and validated models. The indicative ratings are as of the date indicated, are subject to change, and should not be relied upon as current thereafter. For more Information,  please go to finapu.com.


Characteristics, holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future. The holdings are taken from the accounting records of SSGA which may differ from the official books and records of the custodian.

Capital Risk: Investing involves risk including the risk of loss of capital.

Past performance is not a reliable indicator of future performance. 

First net asset value taken into account corresponds to the first end of month following complete investment of the portfolio in agreement with the policy of management. Historical performance is not necessarily indicative of actual future investment performance.

THE SPDR REFINITIV GLOBAL CONVERTIBLE BOND UCITS ETF (THE “PRODUCT”) IS NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY REFINITIV LIMITED OR ANY OF ITS SUBSIDIARIES OR AFFILIATES (“REFINITIV”). REFINITIV MAKE NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE OWNERS OF THE PRODUCT(S) OR ANY MEMBER OF THE PUBLIC REGARDING THE ADVISABILITY OF INVESTING IN SECURITIES GENERALLY OR IN THE PRODUCT(S) PARTICULARLY OR THE ABILITY OF THE REFINITIV QUALIFIED GLOBAL CONVERTIBLE INDEX (THE “INDEX”) TO TRACK GENERAL MARKET PERFORMANCE. REFINITIV’ ONLY RELATIONSHIP TO THE PRODUCT(S) AND STATE STREET GLOBAL ADVISORS (THE “LICENSEE”) IS THE LICENSING OF THE INDEX, WHICH IS DETERMINED, COMPOSED AND CALCULATED BY REFINITIV OR ITS LICENSORS WITHOUT REGARD TO THE LICENSEE OR THE PRODUCT(S). REFINITIV HAS NO OBLIGATION TO TAKE THE NEEDS OF THE LICENSEE OR THE OWNERS OF THE PRODUCT(S) INTO CONSIDERATION IN CONNECTION WITH THE FOREGOING. REFINITIV IS NOT RESPONSIBLE FOR AND HAS NOT PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THE PRODUCT(S) TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY WHICH THE PRODUCT(S) IS TO BE CONVERTED INTO CASH. REFINITIV HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR TRADING OF THE PRODUCT(S).

REFINITIV DOES NOT GUARANTEE THE QUALITY, ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN. REFINITIV MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR ANY DATA INCLUDED THEREIN IN CONNECTION WITH THE RIGHTS LICENSED HEREUNDER OR FOR ANY OTHER USE. REFINITIV MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL REFINITIV HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Previous to 29 May 2020, the Fund was known as SPDR® Thomson Reuters Global Convertible Bond CHF Hdg UCITS ETF (Acc).

The recipient is only permitted to view or receive the Index Data in the form in which it is in presented. The recipient understands, acknowledges and agrees that use of the Index Data is at its sole risk. The recipient understands, acknowledges and agrees that the Index Data is provided "as is" and that neither Morningstar UK Limited (Morningstar) nor its content providers warrant the accuracy, completeness, non-infringement, originality, timeliness or any other characteristic of the Index Data. The recipient further understands, acknowledges and agrees that the Index Data is provided to you as an investor in financial products solely pursuant to regulatory requirements and for informational purposes only. The Index Data may not be used by you for commercial purposes and may not be used for trading or other purposes in lieu of a subscription to such Index Data with Morningstar.