State Street(R) SPDR(R) Bloomberg Convertible Securities ETF
SPDR SERIES TRUST · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
State Street(R) SPDR(R) Bloomberg Convertible Securities ETF is a U.S. bond index ETF that tracks the Bloomberg U.S. Convertible Liquid Bond Index. 1% of CWB’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 100% of the fund’s equity).
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2025 Q4
The State Street SPDR Bloomberg Convertible Securities ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks United States convertible securities markets.
The fund tracks the Bloomberg U.S. Convertible Liquid Bond Index using a sampling strategy, holding a subset of index securities selected to replicate the index's risk and return characteristics. Because the fund samples rather than holds all index constituents, its performance may diverge from the index. The portfolio consists of convertible bonds and convertible preferred stock issued by U.S. companies, with significant exposure to technology and consumer cyclical sectors as of the filing date.
| Share class | Expense ratio |
|---|---|
| CWB | 0.40% |
Portfolio turnover 32.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 85.61% |
| Stocks | 13.87% |
| Cash & short-term | 3.58% |
| Derivatives | 0.01% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 34.5% |
| International | 11.1% |
| Industrials | 8.5% |
| Utilities | 8.3% |
| 10 smaller | 37.6% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Largest new: COREWEAVE INC, ALPHABET INC ×2, GAMESTOP CORP, DOORDASH INC, IREN LTD, AKAMAI TECHNOLOGIES INC, CLOUDFLARE INC
Largest exited: LUMENTUM HOLDINGS INC ×2, GAMESTOP CORP, DOORDASH INC, AKAMAI TECHNOLOGIES INC, CLOUDFLARE INC, LIBERTY LIVE HLDNGS INC, SOUTHERN CO
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 73.8% |
| Zero-coupon or unclassified | 26.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.2% |
| 1-3y | 31.5% |
| 3-5y | 41.6% |
| 5-10y | 21.0% |
| 10y+ | 0.8% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 57% |
| Interest rates | 43% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +1.24 yr |
| Investment grade | +0.26 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.33 yr | 29% |
| 5 yr | 0.68 yr | 61% |
| 10 yr | 0.08 yr | 7% |
| 30 yr | 0.02 yr | 2% |
| 1 yr | 0.58 yr | 38% |
| 5 yr | 0.86 yr | 56% |
| 10 yr | 0.08 yr | 5% |
| 30 yr | 0.02 yr | 1% |
3 mo is NEGATIVE (-0.04 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | -0.05 | $2.0k | -$29.4k |
| 1 yr | +0.33 | +0.14 | +0.44 | $87.1k | $271.0k |
| 5 yr | +0.68 | +0.11 | +0.75 | $69.3k | $462.0k |
| 10 yr | +0.08 | +0.00 | +0.08 | $281 | $50.5k |
| 30 yr | +0.02 | +0.00 | +0.02 | $2 | $11.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | WESTERN DIGITAL CORP3.00% · due 2028-11-15 | 5.54% | — | $343.54M | — |
| GVMXX | State Street Global AdvisorsGVMXX | 3.58% | — | $221.76M | — |
| — | The BOEING CO | 1.86% | $67.30 | $115.61M | 1.7M |
| — | LUMENTUM HOLDINGS INC0.38% · due 2032-03-15 | 1.44% | — | $89.18M | — |
| — | ALIBABA GROUP HOLDING0.50% · due 2031-06-01 | 1.43% | — | $88.30M | — |
| — | LUMENTUM HOLDINGS INC0.50% · due 2028-06-15 | 1.38% | — | $85.48M | — |
| — | BLOOM ENERGY CORP0.00% · due 2030-11-15 | 1.11% | — | $69.11M | — |
| — | WELLS FARGO & COMPANY | 1.10% | $1,157.00 | $68.45M | 59.2K |
| — | ORACLE CORP | 1.10% | $44.95 | $68.12M | 1.5M |
| — | NEBIUS GROUP NV1.25% · due 2031-03-15 | 1.08% | — | $67.21M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 19.63% of net assets, top 25 31.75%, across 248 issuers.
See more of this fund's book
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