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Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

SPDR® ICE Preferred Securities ETF

PSK | ETF

$34.97

$821 M

6.18%

$2.16

0.45%

Vitals

YTD Return

8.8%

1 yr return

14.2%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

1.0%

Net Assets

$821 M

Holdings in Top 10

20.7%

52 WEEK LOW AND HIGH

$34.6
$31.67
$35.95

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 45.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

SPDR® ICE Preferred Securities ETF

PSK | ETF

$34.97

$821 M

6.18%

$2.16

0.45%

PSK - Profile

Distributions

  • YTD Total Return 8.8%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.89%
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR® ICE Preferred Securities ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Sep 17, 2009
  • Shares Outstanding
    29050000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Karl Schneider

Fund Description

In seeking to track the performance of the ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index (the “Index”), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the Fund in pursuing its objective.Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. In addition, in seeking to track the Index, the Fund may invest in securities that are not included in the Index. The Fund may also invest in cash and cash equivalents or money market instruments (including money market funds advised by the Adviser) for cash management purposes. In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries. Futures contracts (a type of derivative instrument) may be used by the Fund in seeking performance that corresponds to the Index and in managing cash flows.The Index is designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock, including, but not limited to, senior and subordinated debt (collectively, “Preferred Securities”). Preferred Securities generally pay fixed rate distributions (but may pay distributions based on adjustable rates) and typically have “preference” over common stock in the payment of distributions and the liquidation of a company's assets — preference means that a company must pay distributions on its Preferred Securities before paying dividends on its common stock, and the claims of Preferred Securities holders are ahead of common stockholders' claims on assets in a corporate liquidation. The Index includes Preferred Securities that meet the following criteria: (i) are non-convertible; (ii) have a par amount of $25; (iii) are primarily listed on the NYSE or NASDAQ exchanges, (iv) have a minimum amount outstanding of $250 million; (v) are U.S. dollar denominated; (vi) are rated investment grade by one of Moody's Investors Service, Inc. or S&P Global Ratings ratings services; (vii) are publicly registered or exempt from registration under the Securities Act of 1933; (viii) have a fixed or floating rate coupon or dividend schedule; (ix) have a minimum average monthly trading volume of at least 250,000 trading units during the preceding six months; and (x) have at least 18 months to final maturity at time of issuance and a minimum remaining term to final maturity of at least one day. The Index may include securities of companies headquartered outside of the United States. The Index does not include auction rate preferred securities, convertible preferred shares, securities with a sinking fund, shares in closed-end funds, purchase units, purchase contracts, corporate pay-in-kind securities and derivative instruments.The Index is market capitalization weighted. The aggregate weight of securities of an individual issuer is limited to 5%, and any weight exceeding this limit will be redistributed on a pro-rata basis to securities of issuers that do not exceed the 5% limit. In the event the Index includes securities of fewer than 20 issuers, the aggregate weight of each issuer's securities will be equally weighted and the issuer's individual securities will be weighted on a pro-rata basis. The Index is rebalanced on the last calendar day of each month based on information available up to and including the third business day before the last business day of the month. As of August 31, 2024, a significant portion of the Fund comprised companies in the financial sector, although this may change from time to time. As of July 31, 2024, the Index comprised 154 Preferred Securities.The Index is sponsored by ICE Data Indices, LLC (the “Index Provider”), which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
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PSK - Performance

Return Ranking - Trailing

Period PSK Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% 4.8% 17.7% 74.36%
1 Yr 14.2% 10.0% 28.4% 85.90%
3 Yr -1.4%* -7.6% 5.9% 77.78%
5 Yr 1.0%* -5.1% 11.5% 79.41%
10 Yr 3.4%* 0.8% 5.0% 64.58%

* Annualized

Return Ranking - Calendar

Period PSK Return Category Return Low Category Return High Rank in Category (%)
2023 2.1% -3.6% 14.2% 24.36%
2022 -23.5% -29.4% -9.6% 76.39%
2021 -3.4% -3.4% 17.2% 100.00%
2020 0.9% -24.8% 9.0% 37.68%
2019 11.2% 6.4% 19.1% 61.54%

Total Return Ranking - Trailing

Period PSK Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% 4.8% 17.7% 74.36%
1 Yr 14.2% 10.0% 28.4% 85.90%
3 Yr -1.4%* -7.6% 5.9% 77.78%
5 Yr 1.0%* -5.1% 11.5% 79.41%
10 Yr 3.4%* 0.8% 5.0% 64.58%

* Annualized

Total Return Ranking - Calendar

Period PSK Return Category Return Low Category Return High Rank in Category (%)
2023 8.9% -1.9% 26.5% 20.51%
2022 -18.9% -26.0% -5.8% 72.22%
2021 1.6% -2.5% 27.4% 83.33%
2020 6.4% -19.2% 12.3% 30.43%
2019 17.6% 10.0% 32.0% 52.31%

PSK - Holdings

Concentration Analysis

PSK Category Low Category High PSK % Rank
Net Assets 821 M 24.1 M 14.5 B 56.41%
Number of Holdings 154 49 439 74.36%
Net Assets in Top 10 167 M 8.45 M 1.89 B 61.54%
Weighting of Top 10 20.71% 11.3% 48.1% 38.46%

Top 10 Holdings

  1. State Street Navigator Securities Lending Portfolio II 5.18%
  2. Citigroup Capital XIII 3.75%
  3. ATT Inc 1.74%
  4. Capital One Financial Corp 1.71%
  5. Wells Fargo Co 1.64%
  6. Allstate Corp/The 1.44%
  7. Duke Energy Corp 1.43%
  8. Capital One Financial Corp 1.34%
  9. Southern Co/The 1.26%
  10. US Bancorp 1.22%

Asset Allocation

Weighting Return Low Return High PSK % Rank
Preferred Stocks 		99.18% 0.00% 125.69% 12.82%
Cash 		5.62% -0.02% 11.04% 10.26%
Stocks 		0.00% 0.00% 29.42% 92.31%
Other 		0.00% -4.41% 10.15% 70.51%
Convertible Bonds 		0.00% 0.00% 31.65% 96.00%
Bonds 		0.00% 0.00% 97.75% 96.15%

PSK - Expenses

Operational Fees

PSK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.05% 4.46% 93.51%
Management Fee 0.45% 0.00% 1.00% 10.26%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

PSK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PSK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PSK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 45.00% 12.00% 199.00% 79.41%

PSK - Distributions

Dividend Yield Analysis

PSK Category Low Category High PSK % Rank
Dividend Yield 6.18% 0.00% 9.59% 17.95%

Dividend Distribution Analysis

PSK Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PSK Category Low Category High PSK % Rank
Net Income Ratio 4.89% 0.88% 7.54% 25.68%

Capital Gain Distribution Analysis

PSK Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

PSK - Fund Manager Analysis

Managers

Karl Schneider

Start Date

Tenure

Tenure Rank

Oct 31, 2014

7.59

7.6%

Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, and Head of U.S. Equity Strategies for GEBS, where in addition to overseeing the management of the U.S. equity index strategies, he also serves as a portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for synthetic beta strategies, including commodities, buy/write, and hedge fund replication. Prior to joining GEBS, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1996. Mr. Schneider holds a BS in finance and investments from Babson College and an MS in finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation. Mr. Schneider is a member of the CAIA Association.

Amy Scofield

Start Date

Tenure

Tenure Rank

Jan 03, 2017

5.41

5.4%

Amy Scofield is a Principal of SSGA and a Portfolio Manager in the Global Equity Beta Solutions Group. Ms. Scofield rejoined SSGA in November of 2010, after spending two years at Atlantic Trust Company, a private wealth management firm. In her role at Atlantic Trust Company, Ms. Scofield specialized in asset allocation and performance analysis for high net worth clients. Prior to Atlantic Trust Company, Ms. Scofield was a compliance officer at SSGA, where she was responsible for ensuring equity portfolios met specified guidelines. Ms. Scofield also worked as an operations associate in SSGA's International Structured Products Group. Ms. Scofield holds a Bachelor of Arts in Economics from Boston College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42

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