CWB ETF — State Street SPDR Bloomberg Convertible Securities ETF

State Street SPDR Bloomberg Convertible Securities ETF (CWB)

Updated October 16, 2026.

CWB is an ETF. its distribution rate is 1.16%, its trailing-12-month yield is 1.67%, its expense ratio is 0.40%. Dividend Vision Distribution Safety Score™ is 92/100 (Safe). Total return is 514.5% over the past 17.5 years, 589.6 points behind SPY at 1104.1%.

State Street SPDR Bloomberg Convertible Securities ETF tracks an index designed to represent the U.S. convertible securities market, investing at least 80% of its assets in convertible bonds and convertible preferred stock. The fund offers a modest current distribution rate paid monthly with an expense ratio of 0.40%. It appeals to income investors seeking exposure to convertible securities, which combine bond-like and equity-like characteristics.

CWB performance versus SPY

Price and return data through 2026-10-16.

Total return is 514.5% over the past 17.5 years, 589.6 points behind SPY at 1104.1%. Over the past year its total return — price change plus distributions reinvested — is 4.5%. Its deepest 1-year drawdown was 13.7%.

CWB key facts

Distribution Safety Score™

92 · Safe

Safety-Adjusted Yield

1.07%

Issuer

State Street

Asset type

ETF

Asset class

Fixed Income

Inception date

04/14/2009

Expense ratio

0.40%

Distribution rate

1.16%

Distribution frequency

Monthly

Trailing yield

1.67%

Last close

$95.04 (as of 2026-10-16)

AUM

$5,512,047,911

Average volume

1523735.0

Dividend

$0.09148

Ex-dividend date

10/01/2026

Payment date

10/06/2026

Beta

1.09

How Dividend Vision calculates yield and returns

Distribution rate (1.16%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.67%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: State Street; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CWB risks and drawbacks

CWB's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 13.7%.

Who may consider CWB — and who may not

CWB may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on CWB

• All tickers starting with C

Tagged: Bonds.

Frequently asked questions

More securities from State Street.