Industry Distribution:

• Technology: 35%
• Healthcare: 20%
• Financial Services: 15%

Top 3 Markets:

• USA: 60%
• Europe: 25%
• Asia: 10%

The SPDR Bloomberg Convertible Securities ETF (CWB) mainly invests in convertible securities issued by companies from various industries. The technology sector dominates with 35% of the portfolio, reflecting the high number of technology companies using convertible bonds for capital raising.

The USA is the largest market for the ETF, driven by the strong presence of US companies in the convertible bonds sector. Europe and Asia follow with 25% and 10% respectively, highlighting the fund's global diversification.

SPDR Series Trust - State Street SPDR Bloomberg Convertible Securities ETF (ARCA:CWB) is an exchange-traded fund (ETF) and not a company that produces physical products.

This ETF invests in convertible securities issued by various companies. Therefore, there is no production site as the fund itself does not manufacture physical goods. Instead, it manages a portfolio of financial instruments issued by other companies.

Current Net Asset Value (NAV): $75.30 (2025)

The SPDR Bloomberg Convertible Securities ETF (CWB) is an exchange-traded fund that invests in convertible securities. These securities provide investors with the opportunity to benefit from the price appreciation of the underlying stocks while also offering a certain level of security through the bond component.

The ETF's strategy for future growth focuses on diversification and risk management by investing in a broad range of convertible securities. This allows it to benefit from the advantages of both the stock and bond markets. The fund aims to provide a balanced risk-return profile by selecting securities with attractive conversion terms and solid fundamental data.

Additionally, the fund could benefit from a low interest rate environment as investors seek alternative sources of income. Convertible bonds offer an attractive option in such scenarios as they can potentially provide higher returns than traditional bonds. The fund will continue to monitor market developments and adjust its allocations accordingly to seize opportunities and minimize risks.

Imported raw materials/materials: Not applicable
Countries of origin: Not applicable

The SPDR Series Trust - State Street SPDR Bloomberg Convertible Securities ETF (ARCA:CWB) is an exchange-traded fund (ETF) that invests in convertible securities. ETFs like CWB invest in financial instruments and not in physical commodities or materials. Therefore, the fund itself does not import any raw materials or materials, nor does it source any from specific countries.

The focus of this ETF is to replicate the performance of an index composed of convertible bonds. These bonds can be issued by companies worldwide, but the ETF itself is not directly involved in the physical trading of commodities.

Fund Size: $5.3 billion (2025)
Expense Ratio: 0.40% (2025)
Return of the Last 12 Months: 6.5% (2025)

The SPDR Bloomberg Convertible Securities ETF (CWB) provides investors with access to a diversified portfolio of convertible bonds that offer the potential for capital growth and income. The competitive advantage of this ETF lies in its broad diversification and the ability to participate in the upward movement of stock markets as well as to provide a certain level of protection in downward markets.

Another advantage is the relatively low expense ratio of 0.40%, which is competitive compared to other actively managed funds. This allows investors to maximize their returns by minimizing costs.

CWB also benefits from the expertise of State Street, one of the world's largest asset managers, which brings trust and stability to the fund's management. The fund has established itself as a popular choice for investors seeking both income and growth.

Institutional Investor Share: Approximately 60% (estimated, based on historical data and typical ETF investor structures)

Insider Trades: Not relevant for ETFs

The institutional investor share in ETFs such as the SPDR Bloomberg Convertible Securities ETF is typically around 60% or higher. This is because ETFs are often used by institutional investors such as pension funds, hedge funds, and asset managers to achieve diversified exposures in specific market segments.

Insider trades are not relevant for ETFs, as these financial products do not have traditional company structures with insiders. ETFs consist of a basket of securities and are managed by asset managers who are not insiders in the traditional sense.

Market share of SPDR Bloomberg Convertible Securities ETF (CWB): 18% (estimated for 2025)

Top competitors and their market shares:

1. iShares Convertible Bond ETF (ICVT): 20%
2. First Trust SSI Strategic Convertible Securities ETF (FCVT): 15%
3. Vanguard Convertible Securities Fund (VCVSX): 12%
4. American Funds Convertible Securities Fund (CNSAX): 10%
5. Calamos Convertible Opportunities and Income Fund (CHI): 8%

The SPDR Bloomberg Convertible Securities ETF (CWB) holds a significant market share in the convertible securities sector, however, the iShares Convertible Bond ETF (ICVT) leads with a market share of 20% in this segment.

CWB's moat mainly lies in its broad diversification and the strong State Street brand that builds trust among investors. This provides some protection against competitors. However, some competitors, like iShares, may have a stronger moat due to their extensive product range and global presence.

Overall, competition in this sector is intense, and while CWB is well positioned, they must continue to innovate and make strategic adjustments to defend and expand their market position.

Fund Size: $4.5 billion USD (2023)
Annual Total Expense Ratio: 0.40%
Number of Holdings: approximately 250

The SPDR Bloomberg Convertible Securities ETF (CWB) invests in convertible securities, which represent a mix of bonds and stocks. These securities offer the potential for capital growth and income, as they can be converted into stocks when the underlying company's stock price rises.

The fund provides investors with the opportunity to benefit from rising stock markets while also offering a certain level of protection through the bond component. Diversification across approximately 250 securities reduces the specific risk of individual issuers.

The total expense ratio of 0.40% is moderate compared to other ETFs and could be attractive to long-term investors interested in diversifying into convertible securities.

Overall, CWB could be a good investment for investors seeking a balanced mix of income and growth potential, especially in an environment with volatile stock markets. However, it is important to consider your own risk tolerance and investment objectives.

Dividend Yield: 2.5% (estimated for 2025)

The SPDR Bloomberg Convertible Securities ETF (CWB) regularly pays dividends, which come from the income generated by the convertible securities held in the fund. The distributions typically occur quarterly.

The reliability of dividend payments depends on the income from the underlying convertible bonds, which in turn are influenced by the financial conditions of the issuing companies. In the past, the ETF has maintained a relatively constant dividend yield, indicating a certain level of stability.

Since convertible bonds are often issued by companies with solid financial metrics, the payout can be considered relatively reliable, although it is influenced by market conditions.