SPDR® ICE Preferred Securities ETF PSK

Important Risk Disclosure

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.

Because of their narrow focus, financial sector funds tend to be more volatile. Preferred Securities are subordinated to bonds and other debt instruments, and will be subject to greater credit risk. The fund may contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; inflation risk; and issuer call risk. The Fund may invest in US dollar-denominated securities of foreign issuers traded in the United States.

Non-diversified fund may invest in a relatively small number of issuers, a decline in the market value may affect its value more than if it invested in a larger number of issuers. While the Fund is expected to operate as a diversified fund, it may become non-diversified for periods of time solely as a result of changes in the composition of its benchmark index.

The Fund may not purchase securities of any issuer if, as a result, more than 5% of the Fund’s total assets would be invested in that issuer’s securities; except as may be necessary to approximate the composition of its target index. This limitation does not apply to obligations of the U.S. government or its agencies or instrumentalities.

Passively managed funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.

While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.

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.

Intellectual Property Information: Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

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.

NAV

NAV

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

$43.80

as of Aug 02 2021

Base Currency

USD

Assets Under Management

$1,493.67 M

as of Aug 02 2021

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.

0.45%


Key Features

Key Features

  • The SPDR ICE Preferred Securities ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index (the "Index")
  • Seeks to provide exposure to preferred securities that are non-convertible, have a par amount of $25, and maintain a minimum par value of $250 million
  • The Index holdings are required to be rated investment grade by either Moody’s Investors Service, Inc. or Standard & Poor’s Financial Services, LLC.

About this Benchmark

About this Benchmark

ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index is a modified market capitalization weighted index composed of preferred stock and securities that are functionally equivalent to preferred stock including, but not limited to, depositary preferred securities, perpetual subordinated debt and certain securities issued by banks and other financial institutions that are eligible for capital treatment with respect to such instruments akin to that received for issuance of straight preferred stock.  The Index includes Preferred Securities that meet the following criteria: (i) are non-convertible; (ii) have a par amount of $25; (iii) be listed on the NYSE or NYSE Arca; (iv) must maintain a minimum par value of $250 million; (v) be U.S. dollar denominated; (vi) be rated investment grade by one of Moody's Investors Service, Inc. or Standard & Poor's Ratings Services; (vii) be publicly registered or exempt from registration under the Securities Act of 1933; and (viii) have a minimum monthly trading volume during each of the last six months of at least 250,000 trading units.  The Index does not include auction rate preferred securities, convertible preferred shares, securities subject to sinking fund provisions, shares in closed-end funds, municipal securities, or repackaged securities linked to a security, a basket of securities or an index.  The Index is rebalanced monthly, on the final NYSE Arca trading day of each month.


Fund Information as of Aug 03 2021

Fund Information as of Aug 03 2021
Benchmark Inception Date Options Available 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.

Base Currency Investment Manager Management Team
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Sep 16 2009 No 0.45% USD SSGA Funds Management, Inc. Global Equity Beta Solutions
Benchmark ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index
Inception Date Sep 16 2009
Options Available No
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.

0.45%
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor Distribution Frequency
State Street Global Advisors Funds Distributors, LLC Monthly
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Listing Information as of Aug 03 2021

Listing Information as of Aug 03 2021
Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Sep 17 2009 USD PSK 78464A292 US78464A2924
Exchange NYSE ARCA EXCHANGE
Listing Date Sep 17 2009
Trading Currency USD
Ticker PSK
CUSIP 78464A292
ISIN US78464A2924

Fund Characteristics as of Aug 02 2021

Fund Characteristics as of Aug 02 2021
Number of Holdings Average Yield To Worst

The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

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.

157 1.01% 5.25%
Number of Holdings 157
Average Yield To Worst

The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

1.01%
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.

5.25%

Index Characteristics as of Aug 02 2021

Index Characteristics as of Aug 02 2021
Number of Holdings Average Yield To Worst Current Yield
156 0.99% 5.26%
Number of Holdings 156
Average Yield To Worst 0.99%
Current Yield 5.26%

Yields as of Aug 02 2021

Yields as of Aug 02 2021
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.

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.

Index Dividend Yield

Index Dividend Yield

The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.

Tax Equivalent Yield

Taxable Equivalent Yield

Return that is required on a taxable investment to make it equal to the return on a tax-exempt investment. Tax equivalent yield is based on the Fund's 30 Day SEC Yield and the highest marginal federal income tax rate.

4.08% - 5.11% 4.90% -
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.

4.08%
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.

5.11%
Index Dividend Yield

Index Dividend Yield

The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.

4.90%
Tax Equivalent Yield

Taxable Equivalent Yield

Return that is required on a taxable investment to make it equal to the return on a tax-exempt investment. Tax equivalent yield is based on the Fund's 30 Day SEC Yield and the highest marginal federal income tax rate.

-

Fund Market Price as of Aug 02 2021

Fund Market Price as of Aug 02 2021
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.

Closing Price

Closing Price

Market Price of last reported trade on the exchange.

Day High Day Low Exchange Volume (Shares)

Exchange Volume (shares)

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

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)

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.

$43.82 $43.83 $43.84 $43.72 18,157 0.03% 0.05%
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.

$43.82
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$43.83
Day High $43.84
Day Low $43.72
Exchange Volume (Shares)

Exchange Volume (shares)

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

18,157
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)

0.03%
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.

0.05%
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.

x axis: Dates
y axis: Premium or Discount (bps)
Number of Days Summary
Calendar Year 2020 First Quarter of 2021 Second Quarter of 2021
Days Traded at Premium

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

164 25 38
Days Traded at Discount

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

89 36 25
Days Traded at Premium

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

Calendar Year 2020 164
First Quarter of 2021 25
Second Quarter of 2021 38
Days Traded at Discount

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

Calendar Year 2020 89
First Quarter of 2021 36
Second Quarter of 2021 25
Fund Data

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 Aug 02 2021

Fund Net Cash Amount as of Aug 02 2021
Net Cash Amount
-$30,216,017.74
Net Cash Amount -$30,216,017.74

Fund Net Asset Value as of Aug 02 2021

Fund Net Asset Value as of Aug 02 2021
NAV

NAV

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

Shares Outstanding Assets Under Management
$43.80 34.10 M $1,493.67 M
NAV

NAV

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

$43.80
Shares Outstanding 34.10 M
Assets Under Management $1,493.67 M
Most Recent NAV / NAV History

Fund Performance

Fund Performance

  • Fund Inception Date: Sep 16 2009

as of Jun 30 2021

as of Jun 30 2021

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 16 2009
Fund Before Tax
NAV Jun 30 2021 1.81% 3.30% 1.72% 12.01% 6.43% 4.80% 5.64% 6.93%
Market Value Jun 30 2021 1.84% 3.14% 1.76% 11.52% 6.36% 4.77% 5.64% 6.94%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Jun 30 2021 1.85% 3.42% 1.95% 12.57% 6.76% 5.14% 5.90% 7.24%
Fund After Tax
Return after Taxes on Distributions Jun 30 2021 1.64% 2.78% 0.86% 9.96% 4.47% 2.90% 3.61% 4.88%
Return after Taxes on Distributions and Sale of Fund Shares Jun 30 2021 1.07% 1.95% 1.00% 7.32% 4.28% 3.05% 3.65% 4.73%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Jun 30 2021 1.85% 3.42% 1.95% 12.57% 6.76% 5.14% 5.90% 7.24%
As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 16 2009
Fund Before Tax
NAV Jun 30 2021 1.81% 3.30% 1.72% 12.01% 6.43% 4.80% 5.64% 6.93%
Market Value Jun 30 2021 1.84% 3.14% 1.76% 11.52% 6.36% 4.77% 5.64% 6.94%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Jun 30 2021 1.85% 3.42% 1.95% 12.57% 6.76% 5.14% 5.90% 7.24%
Fund After Tax
Return after Taxes on Distributions Jun 30 2021 1.64% 2.78% 0.86% 9.96% 4.47% 2.90% 3.61% 4.88%
Return after Taxes on Distributions and Sale of Fund Shares Jun 30 2021 1.07% 1.95% 1.00% 7.32% 4.28% 3.05% 3.65% 4.73%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Jun 30 2021 1.85% 3.42% 1.95% 12.57% 6.76% 5.14% 5.90% 7.24%

Performance quoted represents past performance, which is no guarantee of future results. 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.  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.

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.

The ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index reflects linked performance returns of both the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index and the Wells Fargo Hybrid and Preferred Securities Aggregate Index. The index returns are reflective of the Wells Fargo Hybrid and Preferred Securities Aggregate Index from fund inception until 05/01/2021 and of the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index effective 05/01/2021.

Gross Expense Ratio: 0.45%


Top Holdings

Subject to change.

Top Holdings

Subject to change.

Fund Top Holdingsas of Aug 02 2021
Index Top Holdingsas of Aug 02 2021

Fund Top Holdings as of Aug 02 2021

Name Shares Held Weight
Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 1,481,753 2.76%
PNC Financial Services Group Inc. Deposit Shs Repr 1/4000th Non-Cum Perp Pfd Shs Series P 989,605 1.73%
Capital One Financial Corporation Depositary Shs Repr 1/40th 5% Non-Cum Red Perp Pfd Registered Shs Ser I 941,012 1.70%
AT&T Inc 5.35 % Notes 2017-01.11.66 Global 872,502 1.56%
Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 758,696 1.41%
Capital One Financial Corporation Depositary Shs Repr 1/40th 4.8% Non-Cum Red Perp Pfd RegisteredShs Ser J 784,389 1.39%
Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 659,737 1.26%
U.S. Bancorp Deposit Shs Repr 1/1000th Non Cum Perp Pfd Shs Series-F 725,709 1.26%
JPMorgan Chase & Co Depositary Shs Repr 1/400th Non-Cum Perp Red Pfd Registered ShsSeries -EE- 648,736 1.22%
Metlife Inc Depositary Shs Repr 1/1000th 4.75 % Non-Cum Perp Red Pfd Shs Series F 659,737 1.20%

Index Top Holdings as of Aug 02 2021

Name Weight
Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 2.76%
PNC Financial Services Group Inc. Deposit Shs Repr 1/4000th Non-Cum Perp Pfd Shs Series P 1.73%
Capital One Financial Corporation Depositary Shs Repr 1/40th 5% Non-Cum Red Perp Pfd Registered Shs Ser I 1.70%
AT&T Inc 5.35 % Notes 2017-01.11.66 Global 1.56%
Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 1.41%
Capital One Financial Corporation Depositary Shs Repr 1/40th 4.8% Non-Cum Red Perp Pfd RegisteredShs Ser J 1.39%
Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 1.27%
U.S. Bancorp Deposit Shs Repr 1/1000th Non Cum Perp Pfd Shs Series-F 1.26%
JPMorgan Chase & Co Depositary Shs Repr 1/400th Non-Cum Perp Red Pfd Registered ShsSeries -EE- 1.23%
Metlife Inc Depositary Shs Repr 1/1000th 4.75 % Non-Cum Perp Red Pfd Shs Series F 1.20%

Sector Allocation

Sector Allocation
Fund Sector Breakdownas of Aug 02 2021
Index Sector Breakdownas of Aug 02 2021

Fund Sector Breakdown as of Aug 02 2021

Sector Weight
Financials 69.46%
Utilities 14.15%
Real Estate 6.83%
Communication Services 4.44%
Finance 2.11%
Unassigned 1.82%
Energy 0.73%
Commercial Services 0.46%

Index Sector Breakdown as of Aug 02 2021

Sector Weight
Financials 68.90%
Utilities 14.16%
Real Estate 6.82%
Communication Services 4.44%
Unassigned 2.39%
Finance 2.11%
Energy 0.73%
Commercial Services 0.46%

Purchase Information

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.


Fund Footnotes

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 ICE Preferred 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.

Prior to 05/01/2021, the SPDR ICE Preferred Securities ETF was known as the SPDR Wells Fargo Preferred Stock ETF.

The ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index reflects linked performance returns of both the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index and the Wells Fargo Hybrid and Preferred Securities Aggregate Index. The index returns are reflective of the Wells Fargo Hybrid and Preferred Securities Aggregate Index from fund inception until 05/01/2021 and of the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index effective 05/01/2021.

“ICE Data” and “the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index” (the “Index”) are trademarks of Ice Data Indices, LLC or its affiliates, and have been licensed for use by SSGA. ICE Data has not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product, nor makes any representation or warranty, express or implied, to the owners of the licensee’s products or any member of the public regarding the licensee’s products or the advisability of investing in the licensees products, particularly the ability of the Index to track performance of any market or strategy. ICE DATA DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN AND ICE DATA SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, UNAVAILABILITY, OR INTERRUPTIONS THEREIN.