SPDR® Bloomberg Convertible Securities ETF CWB

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.

Convertible securities generally provide yields higher than the underlying stocks, but generally lower than comparable non-convertible securities, in exchange for limited upside potential.

Issuers of convertible securities may not be as financially strong as those issuing securities with higher credit ratings and may be more vulnerable to changes in the economy. Other risks associated with convertible bond investments include: Call risk which is the risk that bond issuers may repay securities with higher coupon or interest rates before the security's maturity date; liquidity risk which is the risk that certain types of investments may not be possible to sell the investment at any particular time or at an acceptable price; and investments in derivatives, which can be more sensitive to sudden fluctuations in interest rates or market prices, potential illiquidity of the markets, as well as potential loss of principal.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; issuer credit risk; liquidity risk; and inflation risk. There are additional risks for funds that invest in mortgage-backed and asset-backed securities including the risk of issuer default; credit risk and inflation risk.

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.

$81.73

as of Dec 03 2021

Base Currency

USD

Assets Under Management

$6,701.92 M

as of Dec 03 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.

0.40%


Key Features

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

    About this Benchmark

    The Bloomberg US Convertible Liquid Bond Index is designed to represent the market of U.S. convertible securities, such as convertible bonds. 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 ("Preferred Securities") or common stock. The Index components are a subset of issues in the 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 Dec 06 2021

    Fund Information as of Dec 06 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 Administrator Investment Manager
    Bloomberg U.S. Convertible Liquid Bond Index Apr 14 2009 Yes 0.40% USD State Street Global Advisors Funds Management Inc. SSGA Funds Management, Inc.
    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 Distributor Distribution Frequency
    Global Fixed Income, Cash and Currency State Street Global Advisors Funds Distributors, LLC Monthly
    Management Team Global Fixed Income, Cash and Currency
    Distributor State Street Global Advisors Funds Distributors, LLC
    Distribution Frequency Monthly

    Listing Information as of Dec 06 2021

    Listing Information as of Dec 06 2021
    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Apr 16 2009 USD CWB 78464A359 US78464A3591
    Exchange NYSE ARCA EXCHANGE
    Listing Date Apr 16 2009
    Trading Currency USD
    Ticker CWB
    CUSIP 78464A359
    ISIN US78464A3591

    Fund Characteristics as of Dec 02 2021

    Fund Characteristics as of Dec 02 2021
    Number of Holdings Average Coupon

    Average Coupon

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

    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.

    Average Price 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.

    319 2.08% 3.97 $261.06 1.58%
    Number of Holdings 319
    Average Coupon

    Average Coupon

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

    2.08%
    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.

    3.97
    Average Price $261.06
    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.

    1.58%

    Index Characteristics as of Dec 02 2021

    Index Characteristics as of Dec 02 2021
    Number of Holdings Average Coupon Average Maturity in Years Average Price Current Yield
    309 2.09% 3.95 $260.67 1.59%
    Number of Holdings 309
    Average Coupon 2.09%
    Average Maturity in Years 3.95
    Average Price $260.67
    Current Yield 1.59%

    Yields as of Dec 02 2021

    Yields as of Dec 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.

    1.07% - 2.28%
    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.

    1.07%
    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.

    2.28%

    Fund Market Price as of Dec 03 2021

    Fund Market Price as of Dec 03 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.

    $81.76 $81.64 $83.00 $81.05 150,017 0.04% 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.

    $81.76
    Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    $81.64
    Day High $83.00
    Day Low $81.05
    Exchange Volume (Shares)

    Exchange Volume (shares)

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

    150,017
    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)

    0.04%
    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 Third Quarter of 2021
    Days Traded at Premium

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

    154 27 20 34
    Days Traded at Discount

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

    99 34 43 30
    Days Traded at Premium

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

    Calendar Year 2020 154
    First Quarter of 2021 27
    Second Quarter of 2021 20
    Third Quarter of 2021 34
    Days Traded at Discount

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

    Calendar Year 2020 99
    First Quarter of 2021 34
    Second Quarter of 2021 43
    Third Quarter of 2021 30
    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 Dec 03 2021

    Fund Net Cash Amount as of Dec 03 2021
    Net Cash Amount
    -$21,834,140.92
    Net Cash Amount -$21,834,140.92

    Fund Net Asset Value as of Dec 03 2021

    Fund Net Asset Value as of Dec 03 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
    $81.73 82.00 M $6,701.92 M
    NAV

    NAV

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

    $81.73
    Shares Outstanding 82.00 M
    Assets Under Management $6,701.92 M
    Most Recent NAV / NAV History

    Fund Performance

    Fund Performance

    • Fund Inception Date: Apr 14 2009

    as of Oct 31 2021

    as of Sep 30 2021

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Apr 14 2009
    Fund Before Tax
    NAV Oct 31 2021 3.26% 3.26% 7.51% 30.91% 24.92% 18.41% 13.87% 14.08%
    Market Value Oct 31 2021 3.23% 3.23% 7.54% 31.20% 25.02% 18.41% 13.90% 14.08%
    Bloomberg U.S. Convertible Liquid Bond Index Oct 31 2021 3.27% 3.27% 8.23% 31.91% 25.68% 19.15% 14.51% 15.07%
    Fund After Tax
    Return after Taxes on Distributions Oct 31 2021 3.22% 3.22% 7.11% 29.80% 23.26% 16.79% 12.05% 12.29%
    Return after Taxes on Distributions and Sale of Fund Shares Oct 31 2021 1.93% 1.93% 4.44% 18.34% 18.98% 14.05% 10.53% 10.92%
    Bloomberg U.S. Convertible Liquid Bond Index Oct 31 2021 3.27% 3.27% 8.23% 31.91% 25.68% 19.15% 14.51% 15.07%
    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Apr 14 2009
    Fund Before Tax
    NAV Sep 30 2021 -2.10% -1.46% 4.12% 26.66% 20.89% 17.41% 14.29% 13.89%
    Market Value Sep 30 2021 -2.02% -1.33% 4.18% 26.88% 20.93% 17.39% 14.33% 13.89%
    Bloomberg U.S. Convertible Liquid Bond Index Sep 30 2021 -2.11% -1.33% 4.81% 27.78% 21.72% 18.13% 14.89% 14.88%
    Fund After Tax
    Return after Taxes on Distributions Sep 30 2021 -2.16% -1.58% 3.77% 25.57% 19.26% 15.79% 12.45% 12.10%
    Return after Taxes on Distributions and Sale of Fund Shares Sep 30 2021 -1.24% -0.86% 2.44% 15.84% 15.70% 13.21% 10.91% 10.75%
    Bloomberg U.S. Convertible Liquid Bond Index Sep 30 2021 -2.11% -1.33% 4.81% 27.78% 21.72% 18.13% 14.89% 14.88%

    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.

    Gross Expense Ratio: 0.40%


    Top Holdings

    Subject to change.

    Top Holdings

    Subject to change.

    Fund Top Holdingsas of Dec 02 2021

    Fund Top Holdings as of Dec 02 2021

    Name Market Value ISIN Weight
    BROADCOM INC 8 12/31/2049 148,549,424.10 US11135F2002 2.19%
    WELLS FARGO & COMPANY 7.5 12/31/2049 134,352,661.46 US9497468044 1.98%
    BANK OF AMERICA CORP 7.25 12/31/2049 101,847,042.36 US0605056821 1.50%
    PALO ALTO NETWORKS 0.375 83,293,134.38 - 1.23%
    DANAHER CORP 0 12/31/2049 75,608,827.70 US2358513008 1.12%
    PALO ALTO NETWORKS 0.75 07/01/2023 75,437,506.88 US697435AD78 1.11%
    SEA LTD 2.375 12/01/2025 72,969,145.68 US81141RAF73 1.08%
    FORD MOTOR COMPANY 0 03/15/2026 68,747,312.00 US345370CY41 1.01%
    DANAHER CORP 5 12/31/2049 65,278,221.40 US2358514097 0.96%
    SOUTHWEST AIRLINES CO 1.25 05/01/2025 64,706,400.92 US844741BG22 0.96%
    Download All Holdings: Daily

    Sector Allocation

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

    Fund Sector Breakdown as of Dec 02 2021

    Sector Weight
    CORPORATE - INDUSTRIAL 85.48%
    Corporate - Finance 7.07%
    Corporate - Utility 6.98%
    Cash 0.47%

    Index Sector Breakdown as of Dec 02 2021

    Sector Weight
    CORPORATE - INDUSTRIAL 85.97%
    Corporate - Finance 7.02%
    Corporate - Utility 7.01%

    Quality Breakdown

    Quality Breakdown
    Fund Quality Breakdownas of Dec 02 2021
    Index Quality Breakdownas of Dec 02 2021

    Fund Quality Breakdown as of Dec 02 2021

    Name Weight
    Aaa 0.47%
    A 0.56%
    Baa 10.96%
    Below BAA 7.55%
    Not Rated 80.46%

    Index Quality Breakdown as of Dec 02 2021

    Name Weight
    A 0.60%
    Baa 11.11%
    Below BAA 7.60%
    Not Rated 80.69%

    Maturity Ladder

    Maturity Ladder
    Fund Maturity Ladderas of Dec 02 2021
    Index Maturity Ladderas of Dec 02 2021

    Fund Maturity Ladder as of Dec 02 2021

    Name Weight
    0 - 1 Year 9.44%
    1 - 2 Years 15.54%
    2 - 3 Years 8.04%
    3 - 5 Years 48.25%
    5 - 7 Years 11.20%
    7 - 10 Years 0.95%
    10 - 15 Years 0.38%
    15 - 20 Years 0.17%
    20 - 30 Years 1.99%

    Index Maturity Ladder as of Dec 02 2021

    Name Weight
    0 - 1 Year 9.11%
    1 - 2 Years 15.78%
    2 - 3 Years 8.00%
    3 - 5 Years 48.76%
    5 - 7 Years 10.95%
    7 - 10 Years 1.17%
    10 - 15 Years 0.15%
    15 - 20 Years 0.16%
    20 - 30 Years 2.01%

    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® 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.