State Street SPDR Bloomberg Convertible Securities ETF (CWB)
State Street SPDR Bloomberg Convertible Securities ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Boston, MA, US. The stock last traded at $105.90, up 2.15% on the session, giving a market capitalisation of $6.45B. Its beta of 1.11 implies it has historically moved more than the broad market.
The State Street SPDR Bloomberg Convertible Securities ETF aims to mirror the price and yield performance of the Bloomberg US Convertible Liquid Bond Index, before accounting for its fees and expenses. This fund provides investors with focused access to the U.S. market for convertible securities, specifically targeting those with an initial offering of at least $350 million and a minimum of $250 million still outstanding. Convertible bonds are unique debt instruments that offer holders the option to exchange them for a set number of the issuing company's common or preferred shares. The ETF's portfolio is rebalanced monthly, on the last business day.
State Street SPDR Bloomberg Convertible Securities ETF is most often compared with the following Financial Services names: