State Street SPDR Bloomberg Convertible Securities ETF
$99.09−0.57 (−0.57%)
- 0.40%
- $5.5B
- +11.4%
- 1.59%
- 0.7M sh
- $100.95
- low $85.37high $112.02
The ETF.net CWB Grade
A
Score 77 out of 100
- 2 of 7
Score 77 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.C49 out of 100Rank 4 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A79 out of 100Rank 1 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A76 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
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.
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
- One holding, two jobs. Convertibles pay a coupon like bonds and convert into shares. You get roughly 400 of them for 0.40% a year, with distributions arriving monthly.
- The benchmark itself is picky about tradability: the Bloomberg U.S. Convertible Liquid Bond Index, as the name signals, leans toward the liquid end of a thinly traded market.
- Running since 2009 and now a multi-billion-dollar fund that trades actively. Tracking of its index has been tight, and the plumbing is among the sturdiest in its peer group.
Worth knowing
- Filed under fixed income, wired to equities. When the underlying stocks run, convertibles follow them up; when stocks sink, the swings look nothing like a core bond fund's.
- 0.40% is niche pricing. Broad index trackers in the same cohort run single-digit basis points (SCHK 0.03%, VT 0.06%), so you pay up for the convertible plumbing.
- Convertibles are a small corner of US credit. The investable pool is narrow (roughly 400 positions), so a handful of large issuers can shape the ride.
CWB Holdings
- Bonds
- 364
- 16%
- GOOGN
Sectors
- Communication44.7%
- Technology22.5%
- Financials18.5%
- Utilities11.0%
- Health Care2.4%
- Industrials1.0%
Geography
- United States86.71%
- Netherlands4.59%
- China2.68%
- Israel1.44%
- Australia1.26%
- Bermuda0.84%
- Singapore0.71%
- Canada0.50%
- 1.27%
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$11,143
Returns run to the Oct 12, 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 | +13.0% |
| 1 month | −2.8% |
| 3 months | −4.9% |
| 1 year | +11.4% |
| 3 years | +16.3% |
| 5 years | +5.1% |
| 10 years | +11.3% |
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 | +13.0% | |
| 2025 | +16.6% | |
| 2024 | +10.1% | |
| 2023 | +14.5% | |
| 2022 | −20.8% | |
| 2021 | +2.2% | |
| 2020 | +53.4% |
CWB in the news
CWB Dividends
- 1.59%
- $1.59
- $0.09 per share
- Monthly
Distribution history
CWB Risk
- 12.5%
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.
- 0.93
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.
CWB Cost
0.40%
CWB0.40%
- The middle half of Convertible Bond funds
- Median 0.80%
1 of the 7 Convertible Bond funds charge less.
Other funds in Convertible Bond
- AICVTiShares Convertible Bond ETFExpense ratio 0.20%1 year return +11.9%
- BCVRTCalamos Convertible Equity Alternative ETFExpense ratio 0.69%1 year return +28.6%
- CFCVTFirst Trust SSI Strategic Convertible Securities ETFExpense ratio 0.95%1 year return +13.1%
- CMCVTMiller Convertible Total Return ETFExpense ratio 0.85%1 year return —
- CACVTAdvent Convertible Bond ETFExpense ratio 0.80%1 year return +7.2%