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SPDR® Refinitiv Global Convertible Bond GBP Hdg UCITS ETF (Dist) GCVGx I2

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
£29,80
as of 24 May 2024
Share Class Currency
GBP
1 Day Nav Change
+£0,06 (+0,22%)
as of 24 May 2024
Total Fund Assets USD
$1 318,73 M
as of 24 May 2024
TER
0,55%

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 (GBP) index represents the performance achieved when hedging the currency exposure of its parent index, the Refinitiv Qualified Global Convertible Index, to GBP. The index is 100% hedged to GBP 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 25 May 2024

ISIN IE00BDT6FT30
iNAV Ticker

*These ticker codes are representative of the primary listing exchange.

INGCVG
Inception Date 31 Jan 2022
Countries of Registration Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom
Currency Hedging Monthly
Share Class Currency GBP
Income Treatment Distribution
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 (GBP) Index
Minimum Investment 1 Share
Trading Currency GBP
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 Semi-Annually
PEA Eligible No
ISA Eligible Yes
SIPP Eligible Yes
UK Reporting Status Yes
Securities Lending Yes

Listing and Ticker Information as of 25 May 2024

Exchange Trading Currency Listing Date Exchange Ticker SEDOL Code Bloomberg Code Reuters Code
CBOE NL Equities - Regulated Market (Primary) GBP 01 Feb 2022 GCVGx BPBS405 GCVGx I2 GCVGx.DXE
London Stock Exchange GBP 02 Feb 2022 GCVG BFMN692 GCVG LN GCVG.L

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 30 Apr 2024

Current Yield 0,99%
Number of Holdings 348
Yield to Maturity -4,21%
Average Maturity in Years 2,80
Average Price $113,76

Fund Market Price as of 24 May 2024

Bid Price £29,84
Offer Price £29,95
Closing Price £29,90
Bid/Offer Spread £0,10
Day High -
Day Low -
52 Week High £30,18
52 Week Low £26,73

Fund Net Asset Value as of 24 May 2024

NAV £29,80
Share Class Assets £28,14 M
Shares in Issue 944 484
Total Fund Assets USD $1 318,73 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.

Yields as of 24 May 2024

Distribution Yield

This measures the 12 month historical dividend pay-out per share divided by the NAV.

0,27%

Fund Performance

  • Fund Inception Date: 31 Jan 2022
  • Index Inception Date: 10 May 2018

as of 30 Apr 2024

As Of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
31 Jan 2022
Fund Net 30 Apr 2024 -1,96% 1,54% 1,23% 9,63% - - - -0,92%
Difference 30 Apr 2024 0,10% -0,05% -0,14% -0,51% - - - -0,44%
Fund Gross 30 Apr 2024 -1,92% 1,67% 1,42% 10,23% - - - -0,54%
Difference 30 Apr 2024 0,14% 0,08% 0,04% 0,10% - - - -0,05%
Index
Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index
30 Apr 2024 -2,06% 1,59% 1,38% 10,13% -3,56% 5,13% - -0,48%

as of 30 Apr 2024

As Of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
31 Jan 2022
Fund Net 30 Apr 2024 -1,96% 1,54% 1,23% 9,63% - - - -2,05%
Difference 30 Apr 2024 0,10% -0,05% -0,14% -0,51% - - - -0,97%
Fund Gross 30 Apr 2024 -1,92% 1,67% 1,42% 10,23% - - - -1,20%
Difference 30 Apr 2024 0,14% 0,08% 0,04% 0,10% - - - -0,12%
Index
Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index
30 Apr 2024 -2,06% 1,59% 1,38% 10,13% -10,31% 28,41% - -1,08%

as of 30 Apr 2024

2024 (YTD) 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Fund Net 1,23% 12,33% -13,87% - - - - - - - -
Difference -0,14% -0,53% -0,33% - - - - - - - -
Fund Gross 1,42% 12,95% -13,75% - - - - - - - -
Difference 0,04% 0,09% -0,21% - - - - - - - -
Index
Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index
1,38% 12,86% -13,55% -0,52% 32,51% 12,65% - - - - -

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.

Calendar year inception performance returns will be partial for the year where the inception date for either the Fund in question or the historic performance-linked Fund (whichever is the earliest) falls within that period.

Top Holdings

Fund Top Holdings as of 30 Apr 2024

Security Name Weight
PALO ALTO NETWORKS 0.375 06/01/2025 1,55%
ROYAL CARIBBEAN CRUISES 6 08/15/2025 1,41%
DISH NETWORK CORP 11.75 11/15/2027 1,32%
SK HYNIX INC 1.75 04/11/2030 1,13%
FORD MOTOR COMPANY 0 03/15/2026 1,02%
SAFRAN SA 94.701 05/15/2027 0,89%
MICROSTRATEGY INC 0.75 12/15/2025 0,87%
MONGODB INC 0.25 01/15/2026 0,87%
AIRBNB INC 0 03/15/2026 0,78%
SOUTHERN CO 3.875 12/15/2025 0,75%
Download All Holdings: Download Daily Holdings

Sector Allocation

Fund Sector Allocation as of 30 Apr 2024

Sector Weight
Sector Weight
IT 27,39%
Industrials 11,73%
Leisure 6,98%
Pharmaceutical 6,90%
Retail/Wholesale 5,77%
Electronics 5,62%
Services 5,38%
Transport 4,74%
Telecom 3,82%
Steel/Metals 3,75%
Property 3,06%
Utilities 2,74%
Oil & Gas 2,35%
Banking/Finance 1,93%
Food & Drink 1,73%
Chemicals 1,50%
Cash 1,12%
Construction 0,77%
Media 0,20%
Insurance 0,13%
Other 2,41%

Geographical Weights

Maturity Ladder

Fund Maturity Ladder as of 30 Apr 2024

Maturity Weight
0 - 1 Year 9,66%
1 - 2 Years 32,85%
2 - 3 Years 19,05%
3 - 5 Years 29,78%
5 - 7 Years 6,78%
7 - 10 Years 1,27%
20 - 30 Years 0,61%

Quality Breakdown

Fund Quality Breakdown as of 30 Apr 2024

Quality Weight
Quality Weight
AAA 0,72%
AA+ 2,58%
AA 0,74%
AA- 1,05%
A+ 3,46%
A 8,55%
A- 5,38%
BBB+ 12,54%
BBB 7,14%
BBB- 13,01%
BB+ 5,00%
BB 8,74%
BB- 6,35%
B+ 8,36%
B 4,99%
B- 1,46%
CCC 0,72%
C 5,95%
NR 3,25%

*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.