CWB Fees and Costs — State Street(R) SPDR(R) Bloomberg Convertible Securities ETF
Data updated: 2026-09-11
The net expense ratio is 0.40%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, and portfolio turnover was 33%.
CWB Fees and Expenses
Annual operating expenses and sales charges of CWB. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.40% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CWB Costs Over Time
On $10,000 invested in CWB, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.40%) | $42 | $132 | $230 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,510 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
CWB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $5.9B
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $278.0M
- Net income from securities lending: $1.2M (0.025% of average net assets)
CWB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $2K | 97.24% |
| Barclays Capital Inc. | $30 | 1.49% |
| Piper Sandler & Co. | $26 | 1.26% |
CWB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.4B | 25.41% |
| J.P. Morgan Securities LLC | $756.6M | 14.03% |
| BofA Securities, Inc. | $681.2M | 12.63% |
| Citigroup Global Markets Inc. | $572.1M | 10.61% |
| Santander Securities LLC | $428.8M | 7.95% |
| Wells Fargo Securities, LLC | $403.0M | 7.47% |
| Goldman Sachs & Co. LLC | $385.4M | 7.15% |
| Barclays Capital Inc. | $280.1M | 5.19% |
| Scotia Capital (USA) Inc. | $274.6M | 5.09% |
| Morgan Stanley & Co. LLC | $241.1M | 4.47% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.