SPDR® Wells Fargo® Preferred Stock ETF PSK

Important Risk Disclosure

NAV

NAV

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

$44.33

as of Jan 23 2020

Base Currency

USD

Assets Under Management

$1,152.58 M

as of Jan 23 2020

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® Wells Fargo® Preferred Stock ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Wells Fargo® Hybrid and Preferred Securities Aggregate 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

The Wells Fargo Hybrid and Preferred Securities Aggregate 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 Jan 23 2020

Fund Information as of Jan 23 2020
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
Wells Fargo Hybrid and Preferred Securities Aggregate Index Sep 16 2009 No 0.45% USD SSGA Funds Management, Inc. Global Equity Beta Solutions
Benchmark Wells Fargo Hybrid and Preferred Securities Aggregate 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 Jan 23 2020

Listing Information as of Jan 23 2020
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 Jan 23 2020

Fund Characteristics as of Jan 23 2020
Number of Holdings Price/Book Ratio

Price/Book Ratio

The weighted harmonic average of closing market price divided by the most recent reported book value for each security in the fund's portfolio as calculated for the last twelve months.

Weighted Average Market Cap 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.

Option Adjusted Duration

Option Adjusted Duration

An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

Option Adjusted Spread
166 1.27 $31,607.38 M -1.23% 5.62% - -
Number of Holdings 166
Price/Book Ratio

Price/Book Ratio

The weighted harmonic average of closing market price divided by the most recent reported book value for each security in the fund's portfolio as calculated for the last twelve months.

1.27
Weighted Average Market Cap $31,607.38 M
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.

-1.23%
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.

5.62%
Option Adjusted Duration

Option Adjusted Duration

An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

-
Option Adjusted Spread -
Real Adjusted Duration

Real Adjusted Duration

A measure of the percentage price change of an inflation linked security associated with a change in real interest rates.

-
Real Adjusted Duration

Real Adjusted Duration

A measure of the percentage price change of an inflation linked security associated with a change in real interest rates.

-

Index Characteristics as of Jan 23 2020

Index Characteristics as of Jan 23 2020
Number of Holdings Price/Cash Flow Price/Earnings Average Yield To Worst Current Yield Option Adjusted Duration Option Adjusted Spread
166 - - -0.99% 5.60% - -
Number of Holdings 166
Price/Cash Flow -
Price/Earnings -
Average Yield To Worst -0.99%
Current Yield 5.60%
Option Adjusted Duration -
Option Adjusted Spread -
Real Adjusted Duration
-
Real Adjusted Duration -

Index Statistics as of Jan 23 2020

Index Statistics as of Jan 23 2020

Weighted Average Market Cap
$31,708.29 M
Weighted Average Market Cap $31,708.29 M

Yields as of Jan 23 2020

Yields as of Jan 23 2020
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.

Fund Dividend Yield

Fund Dividend Yield

The sum of the most recent 12 dividends 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.

4.38% 5.40% 5.41%
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.

4.38%
Fund Dividend Yield

Fund Dividend Yield

The sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

5.40%
Index Dividend Yield

Index Dividend Yield

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

5.41%

Fund Market Price as of Jan 23 2020

Fund Market Price as of Jan 23 2020
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 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)

$44.38 $44.39 $44.39 $44.32 9,384 0.10%
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 a given security.

$44.38
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$44.39
Day High $44.39
Day Low $44.32
Exchange Volume (Shares)

Exchange Volume (shares)

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

9,384
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)

0.10%

Premium Discount to Nav

Quarter
    x axis: # of days
    y axis: # Premium/Discount percentage
    Fund Data

    The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

    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 Jan 23 2020

    Fund Net Cash Amount as of Jan 23 2020
    Net Cash Amount
    $1,086,714.96
    Net Cash Amount $1,086,714.96

    Fund Net Asset Value as of Jan 23 2020

    Fund Net Asset Value as of Jan 23 2020
    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
    $44.33 26.00M $1,152.58 M
    NAV

    NAV

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

    $44.33
    Shares Outstanding 26.00M
    Assets Under Management $1,152.58 M
    Most Recent NAV / NAV History

    Fund Performance
    View as

    Fund Performance

    • Fund Inception Date: Sep 16 2009
    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 2019 2.05% 1.23% 17.36% 17.36% 7.36% 5.88% 6.75% 7.14%
    Market Value Dec 31 2019 2.01% 1.36% 17.46% 17.46% 7.43% 5.83% 6.76% 7.16%
    Wells Fargo Hybrid and Preferred Securities Aggregate Index Dec 31 2019 2.10% 1.29% 17.74% 17.74% 7.68% 6.25% 7.02% 7.44%
    Fund After Tax
    Return after Taxes on Distributions Dec 31 2019 1.65% 0.48% 14.74% 14.74% 5.27% 3.86% 4.63% 5.01%
    Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2019 1.21% 0.72% 10.21% 10.21% 4.92% 3.81% 4.52% 4.85%
    Wells Fargo Hybrid and Preferred Securities Aggregate Index Dec 31 2019 2.10% 1.29% 17.74% 17.74% 7.68% 6.25% 7.02% 7.44%
    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 2019 2.05% 1.23% 17.36% 17.36% 7.36% 5.88% 6.75% 7.14%
    Market Value Dec 31 2019 2.01% 1.36% 17.46% 17.46% 7.43% 5.83% 6.76% 7.16%
    Wells Fargo Hybrid and Preferred Securities Aggregate Index Dec 31 2019 2.10% 1.29% 17.74% 17.74% 7.68% 6.25% 7.02% 7.44%
    Fund After Tax
    Return after Taxes on Distributions Dec 31 2019 1.65% 0.48% 14.74% 14.74% 5.27% 3.86% 4.63% 5.01%
    Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2019 1.21% 0.72% 10.21% 10.21% 4.92% 3.81% 4.52% 4.85%
    Wells Fargo Hybrid and Preferred Securities Aggregate Index Dec 31 2019 2.10% 1.29% 17.74% 17.74% 7.68% 6.25% 7.02% 7.44%

    as of Dec 31 2019

    as of Dec 31 2019

    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.

    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: 0.45%


    Top Holdings

    Subject to change.

    Top Holdings

    Subject to change.

    Fund Top Holdingsas of Jan 23 2020
    Index Top Holdingsas of Jan 23 2020

    Fund Top Holdings as of Jan 23 2020

    Name Shares Held Weight
    Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 1,155,810 2.84%
    PNC Financial Services Group Inc. Deposit Shs Repr 1/4000th Non-Cum Perp Pfd Shs Series P 772,571 1.82%
    HSBC Holdings PLC 6.2 % Pfd Shs Sponsored American Deposit Repr 1/40th 6.2 % PfdShs Ser A 746,936 1.74%
    Capital One Financial Corp Depositary Shs Repr 1/40th Non-Cum Red Perp Pfd Registered Shs Series I 772,771 1.70%
    AT&T Inc 5.35 % Notes 2017-01.11.66 Global 681,495 1.58%
    Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 592,887 1.35%
    U.S. Bancorp Deposit Shs Repr 1/1000th Non Cum Perp Pfd Shs Series-F 567,174 1.35%
    Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 515,719 1.26%
    Southern Company 6 1/4 % Notes 2015-15.10.75 Series 2015A 515,919 1.16%
    JPMorgan Chase & Co Depositary Shs Repr 1/400th Non-Cum Perp Red Pfd Registered ShsSeries -EE- 473,196 1.15%

    Index Top Holdings as of Jan 23 2020

    Name Weight
    Citigroup Capital XIII Tr Pfd Secs 2010-30.10.40 Global Fltg Rt 2.85%
    PNC Financial Services Group Inc. Deposit Shs Repr 1/4000th Non-Cum Perp Pfd Shs Series P 1.82%
    HSBC Holdings PLC 6.2 % Pfd Shs Sponsored American Deposit Repr 1/40th 6.2 % PfdShs Ser A 1.74%
    Capital One Financial Corp Depositary Shs Repr 1/40th Non-Cum Red Perp Pfd Registered Shs Series I 1.70%
    AT&T Inc 5.35 % Notes 2017-01.11.66 Global 1.58%
    Allstate Corporation Depositary Shs Repr 1/1000th 5.1% Non-Cum Red Perp Pfd Series H 1.35%
    U.S. Bancorp Deposit Shs Repr 1/1000th Non Cum Perp Pfd Shs Series-F 1.35%
    Duke Energy Corp Depositary Shs Repr 1/1000th Cum Red Perp Pfd Registered Sh Series A 1.26%
    Southern Company 6 1/4 % Notes 2015-15.10.75 Series 2015A 1.16%
    JPMorgan Chase & Co Depositary Shs Repr 1/400th Non-Cum Perp Red Pfd Registered ShsSeries -EE- 1.15%

    Sector Allocation

    Sector Allocation
    Fund Sector Breakdownas of Jan 23 2020
    Index Sector Breakdownas of Jan 23 2020

    Fund Sector Breakdown as of Jan 23 2020

    Sector Weight
    Financials 61.15%
    Utilities 15.07%
    Real Estate 8.16%
    Communication Services 6.45%
    Unassigned 4.12%
    Consumer Discretionary 3.29%
    Finance 1.01%
    Energy 0.75%

    Index Sector Breakdown as of Jan 23 2020

    Sector Weight
    Financials 60.49%
    Utilities 15.05%
    Real Estate 8.18%
    Communication Services 6.43%
    Unassigned 4.80%
    Consumer Discretionary 3.29%
    Finance 1.01%
    Energy 0.74%

    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 Wells Fargo Preferred Stock 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.

    Wells Fargo® Hybrid and Preferred Securities Aggregate Index are trademarks of Wells Fargo & Company and have been licensed for use by State Street Global Advisors.  The product is not sponsored, issued or advised by Wells Fargo & Company or its affiliates and Wells Fargo & Company makes no representation regarding the performance of the index or this product.