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SPDR® Bloomberg Convertible Securities ETF CWB

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$70.85
as of Feb 22 2024
Base Currency
USD
Assets Under Management
$3,641.55 M
as of Feb 22 2024
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.40%

Key Features

  • The SPDR® Bloomberg Convertible Securities ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg US Convertible Liquid Bond Index (the "Index")
  • Seeks to provide exposure to the market of U.S. convertible securities with an issue amount of at least $350 million and a par amount outstanding of at least $250 million
  • Convertible bonds are bonds that can be exchanged, at the option of the holder, for a specific number of shares of the issuer's preferred stock or common stock
  • Rebalanced on the last business day of the month
  • About this Benchmark

    The Index is designed to represent the market of U.S. convertible securities, such as convertible bonds and convertible preferred stock. Convertible bonds are bonds that can be exchanged, at the option of the holder or issuer, for a specific number of shares of the issuer’s equity securities. Convertible preferred stock is preferred stock that includes an option for the holder to convert to common stock. The Index components are a subset of issues in the Bloomberg Convertible Composite Index. To be included in the Index, a security must meet the following requirements: (i) have an issue amount of at least $350 million and a par amount outstanding of at least $250 million; (ii) be a non-called, non-defaulted security; (iii) have at least 31 days until maturity; (iv) be U.S. dollar denominated; and (v) be a registered or a convertible tranche issued under Rule 144A of the Securities Act of 1933, as amended.

    Fund Information as of Feb 24 2024

    Benchmark Bloomberg U.S. Convertible Liquid Bond Index
    Inception Date Apr 14 2009
    Options Available Yes
    Gross Expense Ratio

    Gross Expense Ratio

    The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

    0.40%
    Base Currency USD
    Administrator State Street Global Advisors Funds Management Inc.
    Investment Manager SSGA Funds Management, Inc.
    Management Team Global Fixed Income, Cash and Currency
    Distributor State Street Global Advisors Funds Distributors, LLC
    Distribution Frequency Monthly

    Listing Information as of Feb 24 2024

    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Apr 16 2009 USD CWB 78464A359 US78464A3591

    Fund Characteristics as of Feb 22 2024

    Number of Holdings 290
    Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    1.89%
    Average Maturity in Years

    Average Maturity

    The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

    3.33
    Average Price $155.12
    Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    1.86%

    Index Characteristics as of Feb 22 2024

    Number of Holdings 280
    Average Coupon 1.90%
    Average Maturity in Years 3.32
    Average Price $153.90
    Current Yield 1.87%

    Yields as of Feb 22 2024

    30 Day SEC Yield

    30 Day SEC Yield

    (Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

    3.43%
    30 Day SEC Yield (Unsubsidized)

    30 Day SEC Yield (Unsubsidized)

    An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

    -
    Fund Distribution Yield

    Fund Distribution Yield

    The sum of the most recent 12 distributions within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

    2.04%

    Fund Market Price as of Feb 22 2024

    Bid/Ask

    Bid/Ask Mid Point

    (Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

    $70.75
    Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    $70.73
    Day High $71.03
    Day Low $70.66
    Exchange Volume (Shares)

    Exchange Volume (shares)

    Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

    139,951
    Premium/Discount

    Premium/Discount to NAV

    Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)

    -0.14%
    30-Day Median Bid/Ask Spread

    The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

    0.01%

    Premium Discount to NAV Graph and Summary

    The line graph and table below show historical information about the differences between the daily closing price for shares of the fund (as determined by the fund’s listing exchange) and the fund’s net asset value over certain periods. The vertical axis of the line graph shows the premium/discount expressed as a percentage of NAV. The horizontal axis indicates the date at which the premium/discount occurred. The table shows the number of trading days in which the fund traded at a premium or at a discount to NAV.

    Number of Days Summary

    Calendar Year 2023
    Days Traded at Premium

    Number of days the ETF 4PM Bid/Ask was above the NAV.

    69
    Days Traded at Discount

    Number of days the ETF 4PM Bid/Ask was below the NAV.

    181

    Because ETFs trade like stocks at current market prices, shareholders may pay more than a fund’s NAV when purchasing fund shares and may receive less than a fund’s NAV when selling fund shares.

    Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

    Fund Net Cash Amount as of Feb 22 2024

    Net Cash Amount $3,111,913.25

    Fund Net Asset Value as of Feb 22 2024

    NAV

    NAV

    The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

    $70.85
    Shares Outstanding 51.40 M
    Assets Under Management $3,641.55 M

    Fund Performance

    • Fund Inception Date: Apr 14 2009

    as of Jan 31 2024

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Apr 14 2009
    Fund Before Tax
    NAV Jan 31 2024 -1.29% -1.29% -1.29% 6.43% -3.64% 9.76% 8.58% 10.61%
    Market Value Jan 31 2024 -1.27% -1.27% -1.27% 6.55% -3.57% 9.71% 8.55% 10.61%
    Benchmark
    Bloomberg U.S. Convertible Liquid Bond Index
    Jan 31 2024 -1.29% -1.29% -1.29% 6.75% -3.13% 10.37% 9.12% 11.51%
    Fund After Tax
    Return after Taxes on Distributions Jan 31 2024 -1.29% -1.29% -1.29% 5.62% -4.36% 8.80% 7.00% 9.00%
    Return after Taxes on Distributions and Sale of Fund Shares Jan 31 2024 -0.77% -0.77% -0.77% 3.87% -3.00% 7.34% 6.17% 8.09%
    Benchmark
    Bloomberg U.S. Convertible Liquid Bond Index
    Jan 31 2024 -1.29% -1.29% -1.29% 6.75% -3.13% 10.37% 9.12% 11.51%

    as of Dec 31 2023

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Apr 14 2009
    Fund Before Tax
    NAV Dec 31 2023 5.90% 7.11% 14.30% 14.30% -2.46% 11.74% 8.88% 10.77%
    Market Value Dec 31 2023 6.14% 7.37% 14.44% 14.44% -2.48% 11.68% 8.85% 10.77%
    Benchmark
    Bloomberg U.S. Convertible Liquid Bond Index
    Dec 31 2023 5.95% 7.18% 14.64% 14.64% -1.88% 12.37% 9.45% 11.68%
    Fund After Tax
    Return after Taxes on Distributions Dec 31 2023 5.71% 6.78% 13.43% 13.43% -3.19% 10.77% 7.30% 9.15%
    Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2023 3.51% 4.23% 8.52% 8.52% -2.12% 8.96% 6.41% 8.23%
    Benchmark
    Bloomberg U.S. Convertible Liquid Bond Index
    Dec 31 2023 5.95% 7.18% 14.64% 14.64% -1.88% 12.37% 9.45% 11.68%

    Past performance is not a reliable indicator of future performance. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment.  All results are historical and assume the reinvestment of dividends and capital gains. It is not possible to invest directly in an index.

    Performance returns for periods of less than one year are not annualized.  Performance is shown net of fees.

    Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income as applicable.

    The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

    Gross Expense Ratio: 0.40%

    Top Holdings

    Subject to change.

    Fund Top Holdings as of Feb 22 2024

    Name Market Value ISIN Weight
    PALO ALTO NETWORKS SR UNSECURED 06/25 0.375 87,524,054.80 US697435AF27 2.40%
    WELLS FARGO + COMPANY 81,942,693.22 US9497468044 2.25%
    BANK OF AMERICA CORP 64,080,196.96 US0605056821 1.76%
    ROYAL CARIBBEAN CRUISES SR UNSECURED 08/25 6 47,787,332.32 US780153BQ43 1.31%
    MONGODB INC SR UNSECURED 01/26 0.25 42,346,106.88 US60937PAD87 1.16%
    FORD MOTOR COMPANY SR UNSECURED 03/26 0.00000 39,789,801.60 US345370CZ16 1.09%
    PG+E CORP SR SECURED 144A 12/27 4.25 36,814,469.40 US69331CAK45 1.01%
    UBER TECHNOLOGIES INC SR UNSECURED 144A 12/28 0.875 35,704,904.40 US90353TAL44 0.98%
    WESTERN DIGITAL CORP COMPANY GUAR 144A 11/28 3 34,494,224.00 US958102AS46 0.95%
    SEAGATE HDD CAYMAN COMPANY GUAR 144A 06/28 3.5 31,297,722.00 US81180WBK62 0.86%
    Download All Holdings: Daily

    Sector Allocation

    as of Feb 22 2024
    as of Feb 22 2024

    Fund Sector Breakdown as of Feb 22 2024

    Sector Weight
    CORPORATE - INDUSTRIAL 82.19%
    Corporate - Finance 8.91%
    Corporate - Utility 8.46%
    Non Corporates 0.35%
    Cash 0.09%

    Index Sector Breakdown as of Feb 22 2024

    Sector Weight
    CORPORATE - INDUSTRIAL 82.15%
    Corporate - Finance 8.94%
    Corporate - Utility 8.52%
    Non Corporates 0.38%

    Quality Breakdown

    as of Feb 22 2024
    as of Feb 22 2024

    Fund Quality Breakdown as of Feb 22 2024

    Name Weight
    AAA 0.09%
    A1 0.31%
    A3 1.02%
    BAA1 3.24%
    BAA2 5.34%
    BAA3 3.42%
    BA1 3.86%
    BA3 0.43%
    B1 0.74%
    CAA3 0.56%
    Not Rated 80.98%

    Index Quality Breakdown as of Feb 22 2024

    Name Weight
    A1 0.30%
    A3 1.03%
    BAA1 3.21%
    BAA2 5.41%
    BAA3 3.13%
    BA1 3.86%
    BA3 0.43%
    B1 0.72%
    CAA3 0.59%
    Not Rated 81.33%

    Maturity Ladder

    as of Feb 22 2024
    as of Feb 22 2024

    Fund Maturity Ladder as of Feb 22 2024

    Name Weight
    0 - 1 Year 4.57%
    1 - 2 Years 25.39%
    2 - 3 Years 26.55%
    3 - 5 Years 31.42%
    5 - 7 Years 5.51%
    7 - 10 Years 0.42%
    10 - 15 Years 0.15%
    20 - 30 Years 1.93%

    Index Maturity Ladder as of Feb 22 2024

    Name Weight
    0 - 1 Year 4.05%
    1 - 2 Years 24.99%
    2 - 3 Years 26.43%
    3 - 5 Years 31.87%
    5 - 7 Years 6.58%
    10 - 15 Years 0.16%
    20 - 30 Years 1.98%

    Purchase Information

    Buying and Selling ETFs

    ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

    ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

    Ordinary brokerage commissions may apply.

    In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

    After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

    Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

    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.

    Unless otherwise noted all information contained herein is that of the SPDR® Bloomberg Convertible Securities ETF.

    As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

    "Bloomberg®" and Bloomberg U.S. Convertible Liquid Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain purposes by State Street Global Advisors. Bloomberg is not affiliated with State Street Global Advisors, and Bloomberg does not approve, endorse, review, or recommend SPDR Bloomberg Convertible Securities ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR Bloomberg Convertible Securities ETF.

    Prior to 10/31/2021, the SPDR Bloomberg Convertible Securities ETF was known as the SPDR Bloomberg Barclays Convertible Securities ETF.

    Prior to 8/24/2021, the Bloomberg U.S. Convertible Liquid Bond Index was known as the Bloomberg Barclays U.S. Convertible Liquid Bond Index.