SPDR® ICE Preferred Securities ETF PSK

NAV
$34.90
as of Dec 01 2022
Base Currency
USD
Assets Under Management
$1,045.39 M
as of Dec 01 2022
Gross Expense Ratio
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 Standard & Poor’s Financial Services, LLC.

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 Dec 04 2022

Benchmark ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index
Inception Date Sep 16 2009
Options Available No
Gross Expense Ratio
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 Dec 04 2022

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

Fund Characteristics as of Dec 01 2022

Number of Holdings 148
Average Yield To Worst
5.92%
Current Yield
5.24%

Index Characteristics as of Dec 01 2022

Number of Holdings 149
Average Yield To Worst 5.92%
Current Yield 5.24%

Yields as of Dec 01 2022

30 Day SEC Yield
5.45%
30 Day SEC Yield (Unsubsidized)
-
Fund Distribution Yield
6.19%
Index Dividend Yield
6.00%

Fund Market Price as of Dec 01 2022

Bid/Ask
$34.92
Closing Price
$34.94
Day High $34.97
Day Low $34.56
Exchange Volume (Shares)
23,105
Premium/Discount
0.06%
30-Day Median Bid/Ask Spread
0.12%

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
134 10 20 27
Days Traded at Discount
118 52 42 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 01 2022

Net Cash Amount -$24,222,345.51

Fund Net Asset Value as of Dec 01 2022

NAV
$34.90
Shares Outstanding 29.95 M
Assets Under Management $1,045.39 M

Fund Performance

  • Fund Inception Date: Sep 16 2009

as of Oct 31 2022

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 16 2009
Fund Before Tax
NAV Oct 31 2022 -5.20% -5.20% -20.07% -19.98% -4.42% -0.64% 2.37% 4.40%
Market Value Oct 31 2022 -5.52% -5.52% -20.25% -20.19% -4.53% -0.66% 2.36% 4.38%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Oct 31 2022 -5.20% -5.20% -19.98% -19.83% -4.12% -0.36% 2.66% 4.69%
Fund After Tax
Return after Taxes on Distributions Oct 31 2022 -5.41% -5.41% -21.48% -21.71% -6.17% -2.49% 0.39% 2.39%
Return after Taxes on Distributions and Sale of Fund Shares Oct 31 2022 -3.08% -3.08% -11.80% -11.59% -3.71% -0.90% 1.25% 2.86%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Oct 31 2022 -5.20% -5.20% -19.98% -19.83% -4.12% -0.36% 2.66% 4.69%

as of Sep 30 2022

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 16 2009
Fund Before Tax
NAV Sep 30 2022 -2.21% -1.47% -15.68% -15.29% -2.63% 0.41% 3.02% 4.85%
Market Value Sep 30 2022 -2.18% -1.43% -15.59% -15.19% -2.58% 0.47% 3.02% 4.87%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Sep 30 2022 -2.21% -1.39% -15.59% -15.12% -2.32% 0.69% 3.31% 5.15%
Fund After Tax
Return after Taxes on Distributions Sep 30 2022 -2.42% -2.06% -17.00% -17.06% -4.40% -1.42% 1.05% 2.85%
Return after Taxes on Distributions and Sale of Fund Shares Sep 30 2022 -1.31% -0.85% -9.24% -8.82% -2.42% -0.15% 1.72% 3.19%
ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index Sep 30 2022 -2.21% -1.39% -15.59% -15.12% -2.32% 0.69% 3.31% 5.15%

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.  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.

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

as of Dec 01 2022
as of Dec 01 2022

Fund Top Holdings as of Dec 01 2022

Name Shares Held Weight
Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 1,427,417 3.96%
AT&T Inc 5.35 % Notes 2017-01.11.66 Global 840,500 1.86%
Capital One Financial Corp Depositary Shs Repr 1/40th 5% Non-Cum Red Perp Pfd Registered Shs Ser I 953,309 1.80%
Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 730,869 1.54%
Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 635,536 1.51%
Capital One Financial Corp Depositary Shs Repr 1/40th 4.8% Non-Cum Red Perp Pfd RegisteredShs Ser J 794,422 1.41%
Athene Holding Ltd Depositary Shs Repr 1/1000th Non-Cum Red Perp Pfd Registered Shs Ser A 548,151 1.31%
MetLife Inc. Depositary Shs Repr 1/1000th 4.75 % Non-Cum Perp Red Pfd Shs Series F 635,537 1.26%
Southern Co 4.95 % Notes 2020-30.01.80 Global Series 2020A 635,536 1.26%
AT&T Inc 5.625 % Notes 2018-01.08.67 Global 524,318 1.22%

Index Top Holdings as of Dec 01 2022

Name Weight
Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 3.90%
AT&T Inc 5.35 % Notes 2017-01.11.66 Global 1.86%
Capital One Financial Corp Depositary Shs Repr 1/40th 5% Non-Cum Red Perp Pfd Registered Shs Ser I 1.79%
Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 1.55%
Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 1.49%
Capital One Financial Corp Depositary Shs Repr 1/40th 4.8% Non-Cum Red Perp Pfd RegisteredShs Ser J 1.42%
Athene Holding Ltd Depositary Shs Repr 1/1000th Non-Cum Red Perp Pfd Registered Shs Ser A 1.28%
MetLife Inc. Depositary Shs Repr 1/1000th 4.75 % Non-Cum Perp Red Pfd Shs Series F 1.26%
Southern Co 4.95 % Notes 2020-30.01.80 Global Series 2020A 1.26%
AT&T Inc 5.625 % Notes 2018-01.08.67 Global 1.22%

Sector Allocation

as of Dec 01 2022
as of Dec 01 2022

Fund Sector Breakdown as of Dec 01 2022

Sector Weight
Financials 72.76%
Utilities 12.47%
Real Estate 5.19%
Communication Services 3.09%
Unassigned 2.83%
Finance 2.35%
Energy 0.89%
Commercial Services 0.42%

Index Sector Breakdown as of Dec 01 2022

Sector Weight
Financials 72.82%
Utilities 12.43%
Real Estate 5.18%
Communication Services 3.08%
Unassigned 2.85%
Finance 2.34%
Energy 0.89%
Commercial Services 0.42%

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.

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.