State Street SPDR Bloomberg Convertible Securities ETF
$92.97−1.54 (−1.63%)
- 0.40%
- $5.46B
- +3.3%
- 1.68%
- 629K sh
- low $85.37high $112.02
The ETF.net CWB Grade
A
Score 78 out of 100
- 2 of 7
Score 78 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A73 out of 100Rank 2 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 6Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 3 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A77 out of 100Rank 2 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A79 out of 100Rank 2 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A83 out of 100Rank 2 of 7
Our read on CWB
In short
AConvertible bonds are the hybrids of corporate credit: debt that can turn into stock. CWB has packaged them since 2009, tracking a Bloomberg index tilted toward the market's tradable issues, and it pays monthly.
Stated mandate
The fund seeks to track the price and yield performance of the Bloomberg U.S. Convertible Liquid Bond Index before fees and expenses. It invests in qualifying U.S. convertible securities.
Why people hold it
Worth knowing
CWB Holdings
- Bonds
- 365
- 15%
- Meta Platforms Inc
Geography
- United States87.63%
- Netherlands3.88%
- China2.73%
- Israel1.52%
- Australia0.96%
- Bermuda0.83%
- Singapore0.66%
- Canada0.49%
- 1.28%
CWB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
CWB$10,335
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CWB |
|---|---|
| Year to date | +7.4% |
| 1 month | −6.3% |
| 3 months | −6.6% |
| 1 year | +3.3% |
| 3 years | +15.6% |
| 5 years | +3.6% |
| 10 years | +10.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CWB |
|---|---|---|
| 2026 YTD | +7.4% | |
| 2025 | +16.6% | |
| 2024 | +10.1% | |
| 2023 | +14.5% | |
| 2022 | −20.8% | |
| 2021 | +2.2% | |
| 2020 | +53.4% |
CWB in the news
CWB Dividends
- 1.68%
- $1.59
- $0.09 per share
- Monthly
CWB Risk
- 12.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.85
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −28.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.09
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
CWB Cost
Overpaying vs ICVT, cheapest in Convertible Bond
$3,935
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
CWB 0.40%
$8,090
ICVT 0.20% Cheapest
$4,155
Cost over time
Year by year
| Year | CWB | ICVT | Overpaying |
|---|---|---|---|
| 10 | $723 | $365 | $358 |
| 20 | $2,793 | $1,421 | $1,372 |
| 30 | $8,090 | $4,155 | $3,935 |
Other funds in Convertible Bond
- AICVTiShares Convertible Bond ETFExpense ratio 0.20%1 year return +3.3%
- CCVRTCalamos Convertible Equity Alternative ETFExpense ratio 0.69%1 year return +14.2%
- CACVTAdvent Convertible Bond ETFExpense ratio 0.65%1 year return +5.2%
- CFCVTFirst Trust SSI Strategic Convertible Securities ETFExpense ratio 0.95%1 year return +2.4%
- CMCVTMiller Convertible Total Return ETFExpense ratio 0.85%1 year return
