SPDR® Bloomberg Convertible Securities ETF CWB

NAV
$65.89
as of Dec 06 2022
Base Currency
USD
Assets Under Management
$4,342.09 M
as of Dec 06 2022
Gross Expense Ratio
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 Dec 07 2022

    Benchmark Bloomberg U.S. Convertible Liquid Bond Index
    Inception Date Apr 14 2009
    Options Available Yes
    Gross Expense Ratio
    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 Dec 07 2022

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

    Fund Characteristics as of Dec 06 2022

    Number of Holdings 302
    Average Coupon
    1.90%
    Average Maturity in Years
    3.50
    Average Price $178.73
    Current Yield
    1.84%

    Index Characteristics as of Dec 06 2022

    Number of Holdings 292
    Average Coupon 1.91%
    Average Maturity in Years 3.49
    Average Price $179.23
    Current Yield 1.86%

    Yields as of Dec 05 2022

    30 Day SEC Yield
    4.14%
    30 Day SEC Yield (Unsubsidized)
    -
    Fund Distribution Yield
    2.59%

    Fund Market Price as of Dec 06 2022

    Bid/Ask
    $65.82
    Closing Price
    $65.76
    Day High $66.23
    Day Low $65.69
    Exchange Volume (Shares)
    102,585
    Premium/Discount
    -0.11%
    30-Day Median Bid/Ask Spread
    0.15%

    Premium Discount to NAV Graph and Summary

    Number of Days Summary

    Calendar Year 2021 First Quarter of 2022 Second Quarter of 2022 Third Quarter of 2022
    Days Traded at Premium
    124 3 17 27
    Days Traded at Discount
    128 59 45 37

    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 06 2022

    Net Cash Amount $85,516.76

    Fund Net Asset Value as of Dec 06 2022

    NAV
    $65.89
    Shares Outstanding 65.90 M
    Assets Under Management $4,342.09 M

    Fund Performance

    • Fund Inception Date: Apr 14 2009

    as of Oct 31 2022

    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 2022 2.69% 2.69% -20.21% -24.11% 9.80% 8.34% 9.84% 10.70%
    Market Value Oct 31 2022 3.13% 3.13% -20.45% -24.39% 9.66% 8.28% 9.82% 10.67%
    Bloomberg U.S. Convertible Liquid Bond Index Oct 31 2022 2.75% 2.75% -19.68% -23.50% 10.61% 9.02% 10.52% 11.65%
    Fund After Tax
    Return after Taxes on Distributions Oct 31 2022 2.63% 2.63% -20.59% -24.76% 8.79% 7.00% 8.14% 9.03%
    Return after Taxes on Distributions and Sale of Fund Shares Oct 31 2022 1.59% 1.59% -11.95% -14.18% 7.27% 5.99% 7.20% 8.11%
    Bloomberg U.S. Convertible Liquid Bond Index Oct 31 2022 2.75% 2.75% -19.68% -23.50% 10.61% 9.02% 10.52% 11.65%

    as of Sep 30 2022

    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 2022 -6.12% -0.91% -22.30% -23.70% 9.46% 8.14% 9.59% 10.55%
    Market Value Sep 30 2022 -6.83% -1.66% -22.86% -24.32% 9.14% 7.97% 9.51% 10.49%
    Bloomberg U.S. Convertible Liquid Bond Index Sep 30 2022 -6.04% -0.71% -21.83% -23.12% 10.33% 8.87% 10.27% 11.51%
    Fund After Tax
    Return after Taxes on Distributions Sep 30 2022 -6.20% -1.07% -22.63% -24.33% 8.45% 6.80% 7.89% 8.87%
    Return after Taxes on Distributions and Sale of Fund Shares Sep 30 2022 -3.62% -0.53% -13.18% -13.91% 7.01% 5.83% 6.99% 7.98%
    Bloomberg U.S. Convertible Liquid Bond Index Sep 30 2022 -6.04% -0.71% -21.83% -23.12% 10.33% 8.87% 10.27% 11.51%

    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

    Fund Top Holdings as of Dec 06 2022

    Name Market Value ISIN Weight
    WELLS FARGO & COMPANY 7.5 12/31/2049 93,239,625.10 US9497468044 2.15%
    BANK OF AMERICA CORP 7.25 12/31/2049 73,499,311.20 US0605056821 1.70%
    PALO ALTO NETWORKS 0.375 68,021,841.15 US697435AF27 1.57%
    PALO ALTO NETWORKS 0.75 07/01/2023 64,655,803.33 US697435AD78 1.49%
    NEXTERA ENERGY INC 5.279 12/31/2049 51,095,604.18 US65339F7704 1.18%
    2020 CASH EXCH TRUST 5.25 12/31/2049 48,496,182.90 US9013751055 1.12%
    PIONEER NATURAL RESOURCE 0.25 05/15/2025 47,760,953.85 US723787AP23 1.10%
    DANAHER CORP 5 12/31/2049 45,940,245.40 US2358514097 1.06%
    FORD MOTOR COMPANY 0 45,750,602.50 US345370CZ16 1.06%
    DEXCOM INC 0.75 12/01/2023 44,006,608.50 US252131AH00 1.02%
    Download All Holdings: Daily

    Sector Allocation

    as of Dec 06 2022
    as of Dec 06 2022

    Fund Sector Breakdown as of Dec 06 2022

    Sector Weight
    CORPORATE - INDUSTRIAL 85.31%
    Corporate - Finance 7.48%
    Corporate - Utility 7.19%
    Cash 0.02%

    Index Sector Breakdown as of Dec 06 2022

    Sector Weight
    CORPORATE - INDUSTRIAL 85.22%
    Corporate - Finance 7.57%
    Corporate - Utility 7.21%

    Quality Breakdown

    as of Dec 06 2022
    as of Dec 06 2022

    Fund Quality Breakdown as of Dec 06 2022

    Name Weight
    AAA 0.02%
    A1 0.30%
    A2 0.26%
    A3 0.74%
    B1 0.36%
    B3 0.33%
    BA1 2.36%
    BA2 1.54%
    BA3 0.47%
    BAA1 0.63%
    BAA2 6.03%
    BAA3 3.61%
    CAA1 0.08%
    CAA2 1.90%
    Not Rated 81.40%

    Index Quality Breakdown as of Dec 06 2022

    Name Weight
    A1 0.28%
    A2 0.27%
    A3 0.74%
    B1 0.34%
    B3 0.30%
    BA1 2.38%
    BA2 1.54%
    BA3 0.49%
    BAA1 0.63%
    BAA2 6.01%
    BAA3 3.63%
    CAA1 0.08%
    CAA2 1.90%
    Not Rated 81.40%

    Maturity Ladder

    as of Dec 06 2022
    as of Dec 06 2022

    Fund Maturity Ladder as of Dec 06 2022

    Name Weight
    0 - 1 Year 16.23%
    1 - 2 Years 6.62%
    2 - 3 Years 23.04%
    3 - 5 Years 39.73%
    5 - 7 Years 7.41%
    7 - 10 Years 0.29%
    10 - 15 Years 0.16%
    20 - 30 Years 2.15%

    Index Maturity Ladder as of Dec 06 2022

    Name Weight
    0 - 1 Year 16.18%
    1 - 2 Years 6.64%
    2 - 3 Years 21.09%
    3 - 5 Years 42.14%
    5 - 7 Years 6.24%
    7 - 10 Years 1.09%
    10 - 15 Years 0.16%
    20 - 30 Years 2.13%

    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.