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SPDR® ICE Preferred Securities ETF PSK

NAV

NAV

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

$34.82
as of Feb 26 2024
Base Currency
USD
Assets Under Management
$827.00 M
as of Feb 26 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.

0.45%

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 S&P Global Ratings.

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 NASDAQ; (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 average monthly trading volume of at least 250,000 trading units during the preceding six months; and (x) have at least 18 months to final maturity at time of issuance and a minimum remaining term to final maturity of at least one day. The Index does not include auction rate preferred securities, convertible preferred shares, securities with a sinking fund, shares in closed-end funds, purchase units, purchase contracts, corporate pay-in-kind securities and derivative instruments. The Index is rebalanced on the last calendar day of each month based on information available up to and including the third business day before the last business day of the month.

Fund Information as of Feb 27 2024

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
Administrator State Street Global Advisors Funds Management Inc.
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Listing Information as of Feb 27 2024

Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Sep 17 2009 USD PSK 78464A292 US78464A2924

Fund Characteristics as of Feb 23 2024

Number of Holdings 149
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.

5.42%
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.

5.49%

Index Characteristics as of Feb 23 2024

Number of Holdings 150
Average Yield To Worst 5.42%
Current Yield 5.49%

Yields as of Feb 23 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.

5.57%
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.

6.19%
Index Dividend Yield

Index Dividend Yield

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

5.97%

Fund Market Price as of Feb 26 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.

$34.86
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$34.85
Day High $34.92
Day Low $34.73
Exchange Volume (Shares)

Exchange Volume (shares)

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

51,150
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)

0.11%
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.

0.09%

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.

114
Days Traded at Discount

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

136

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 26 2024

Net Cash Amount $2,564,491.59

Fund Net Asset Value as of Feb 26 2024

NAV

NAV

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

$34.82
Shares Outstanding 23.75 M
Assets Under Management $827.00 M

Fund Performance

  • Fund Inception Date: Sep 16 2009

as of Jan 31 2024

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 16 2009
Fund Before Tax
NAV Jan 31 2024 3.76% 3.76% 3.76% 0.54% -1.64% 1.91% 4.04% 5.01%
Market Value Jan 31 2024 3.70% 3.70% 3.70% 0.74% -1.57% 1.91% 4.06% 5.02%
Benchmark
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index

Index Change: “Benchmark” 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 to present.

Jan 31 2024 3.81% 3.81% 3.81% 0.77% -1.38% 2.22% 4.37% 5.30%
Fund After Tax
Return after Taxes on Distributions Jan 31 2024 3.76% 3.76% 3.76% -1.42% -3.41% 0.10% 2.15% 3.02%
Return after Taxes on Distributions and Sale of Fund Shares Jan 31 2024 2.23% 2.23% 2.23% 0.85% -1.68% 1.00% 2.57% 3.31%
Benchmark
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index

Index Change: “Benchmark” 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 to present.

Jan 31 2024 3.81% 3.81% 3.81% 0.77% -1.38% 2.22% 4.37% 5.30%

as of Dec 31 2023

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 16 2009
Fund Before Tax
NAV Dec 31 2023 2.13% 5.38% 9.06% 9.06% -3.50% 2.34% 4.02% 4.77%
Market Value Dec 31 2023 2.39% 5.61% 9.01% 9.01% -3.46% 2.36% 4.07% 4.78%
Benchmark
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index

Index Change: “Benchmark” 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 to present.

Dec 31 2023 2.18% 5.46% 9.35% 9.35% -3.25% 2.64% 4.35% 5.06%
Fund After Tax
Return after Taxes on Distributions Dec 31 2023 1.80% 4.67% 6.93% 6.93% -5.23% 0.52% 2.12% 2.78%
Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2023 1.37% 3.40% 6.00% 6.00% -3.04% 1.36% 2.59% 3.14%
Benchmark
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index

Index Change: “Benchmark” 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 to present.

Dec 31 2023 2.18% 5.46% 9.35% 9.35% -3.25% 2.64% 4.35% 5.06%

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.

Index Change: “Benchmark” 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 to present.

Gross Expense Ratio: 0.45%

Top Holdings

Subject to change.

as of Feb 23 2024
as of Feb 23 2024

Fund Top Holdings as of Feb 23 2024

Name Shares Held Weight
CITIGROUP CAPITAL XIII 1,066,468 3.78%
AT+T INC 628,492 1.81%
CAPITAL ONE FINANCIAL CO 712,893 1.73%
ALLSTATE CORP 546,667 1.55%
DUKE ENERGY CORP 475,441 1.45%
WELLS FARGO + COMPANY 557,798 1.44%
CAPITAL ONE FINANCIAL CO 594,343 1.40%
SOUTHERN CO 475,521 1.33%
METLIFE INC 475,609 1.26%
US BANCORP 475,615 1.23%

Index Top Holdings as of Feb 23 2024

Name Weight
Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 3.79%
AT&T Inc 5.35 % Notes 2017-01.11.66 Global 1.82%
Capital One Financial Corp Depositary Shs Repr 1/40th 5% Non-Cum Red Perp Pfd Registered Shs Ser I 1.74%
Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 1.56%
Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 1.45%
Wells Fargo & Co Depositary Shs Repr 1/1000th 4.75% Non-Cum Red Perp Pfd Shs A Series Z 1.44%
Capital One Financial Corp Depositary Shs Repr 1/40th 4.8% Non-Cum Red Perp Pfd RegisteredShs Ser J 1.40%
Southern Co 4.95 % Notes 2020-30.01.80 Global Series 2020A 1.34%
MetLife Inc. Depositary Shs Repr 1/1000th 4.75 % Non-Cum Perp Red Pfd Shs Series F 1.26%
U.S. Bancorp Depositary Shs Repr 1/1000th Non-Cum Perpetual Pfd Shs Series -B- 1.23%

Sector Allocation

as of Feb 23 2024
as of Feb 23 2024

Fund Sector Breakdown as of Feb 23 2024

Sector Weight
Financials 68.90%
Utilities 12.38%
Unassigned 5.51%
Real Estate 5.23%
Consumer Discretionary 3.04%
Communication Services 3.00%
Finance 1.55%
Commercial Services 0.40%

Index Sector Breakdown as of Feb 23 2024

Sector Weight
Financials 68.66%
Utilities 12.38%
Unassigned 5.76%
Real Estate 5.22%
Consumer Discretionary 3.03%
Communication Services 2.99%
Finance 1.55%
Commercial Services 0.40%

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 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.

Index Change: “Benchmark” 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 to present.

“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.