SPDR® Refinitiv Global Convertible Bond GBP Hdg UCITS ETF (Dist) GCVGx I2

Important Risk Disclosure

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates raise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

Investing in foreign domiciled securities may involve risk of capital loss from unfavorable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations.

The Fund/share class may use financial derivatives instruments for currency hedging and to manage the portfolio efficiently. The Fund may purchase securities that are not denominated in the share class currency. Hedging should mitigate the impact of exchange rate fluctuations however hedges are sometimes subject to imperfect matching which could generate losses.

Overview Performance Holdings Documents Purchase Information More Insights

NAV

£31,89

as of 21 Nov 2024

Share Class Currency

GBP

1 Day Nav Change

+£0,09 (+0,28%)

as of 21 Nov 2024

Total Fund Assets USD

$1 530,20 M

as of 21 Nov 2024

TER

0,55%

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Fund Objective

The objective of the Fund is to track the performance of the global convertible bond market.

Index Description

The Refinitiv Qualified Global Convertible Monthly Hedged (GBP) index represents the performance achieved when hedging the currency exposure of its parent index, the Refinitiv Qualified Global Convertible Index, to GBP. The index is 100% hedged to GBP by selling forwards of all the currencies in the parent index at each monthly rebalance based on the anticipated exposure to each currency following the rebalance. The Refinitiv Qualified Global Convertible Index is designed to provide a broad measure of the performance of the investable, global convertible bond market.

Fund Information as of 21 Nov 2024

ISIN	IE00BDT6FT30
iNAV Ticker *These ticker codes are representative of the primary listing exchange.	INGCVG
Inception Date	31 Jan 2022
Countries of Registration	Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom
Currency Hedging	Monthly
Share Class Currency	GBP
Income Treatment	Distribution
Settlement Cycle	Redemption Settlement Cycle, DD+3; Subscription Settlement Cycle, DD+3
Trading Cycle	DD+1
TER	0,55%
Benchmark	Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index
Minimum Investment	1 Share
Trading Currency	GBP
UCITS Compliant	Yes
Domicile	Ireland
Investment Manager	State Street Global Advisors Europe Limited
Sub-Investment Manager(s)	State Street Global Advisors Limited State Street Global Advisors Trust Company
Fund Umbrella	SSGA SPDR ETFs Europe II plc
Replication Method	Stratified Sampling
Distribution Frequency	Semi-Annually
PEA Eligible	No
ISA Eligible	Yes
SIPP Eligible	Yes
UK Reporting Status	Yes
Securities Lending	Yes

Listing and Ticker Information as of 21 Nov 2024

Exchange	Trading Currency	Listing Date	Exchange Ticker	SEDOL Code	Bloomberg Code	Reuters Code
CBOE NL Equities - Regulated Market (Primary)	GBP	01 Feb 2022	GCVGx	BPBS405	GCVGx I2	GCVGx.DXE
London Stock Exchange	GBP	02 Feb 2022	GCVG	BFMN692	GCVG LN	GCVG.L

INAV

Estimated NAV per Unit at 4PM, Hong Kong as of
Estimated NAV per Unit as of (Updated every 15 seconds)

As of (Updated every 15 seconds)
INAV TICKER	CURRENCY	INAV

The Indicative NAV per share should not be viewed as the actual NAV per share. The Indicative NAV per share is provided for reference purposes only and may differ from the actual NAV per share calculated in accordance with the Prospectus.

Fund Characteristics as of 31 Oct 2024

Current Yield	1,14%
Number of Holdings	346
Yield to Maturity	-5,48%
Average Maturity in Years	2,74
Average Price	$114,87

Fund Market Price as of 21 Nov 2024

Bid Price	£32,02
Offer Price	£32,18
Closing Price	£32,10
Bid/Offer Spread	£0,16
Day High	-
Day Low	-
52 Week High	£32,10
52 Week Low	£27,75

Fund Net Asset Value as of 21 Nov 2024

NAV	£31,89
Share Class Assets	£24,62 M
Shares in Issue	772 153
Total Fund Assets USD	$1 530,20 M

Most Recent NAV/NAV History

Reference NAVs are calculated for information purposes only. No warranty is provided as to the accuracy of reference NAVs. Reference NAVs are calculated with WM1600 FX (London time) rate applied in the currency indicated.

Yields as of 21 Nov 2024

Distribution Yield

This measures the 12 month historical dividend pay-out per share divided by the NAV.

0,40%

Fund Performance

Fund Inception Date: 31 Jan 2022
Index Inception Date: 10 May 2018

as of 31 Oct 2024

	As Of	1 Month	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception 31 Jan 2022
Fund Net	31 Oct 2024	0,32%	4,00%	8,47%	17,34%	-	-	-	1,77%
Difference	31 Oct 2024	-0,03%	-0,36%	-0,60%	-0,63%	-	-	-	-0,52%
Fund Gross	31 Oct 2024	0,36%	4,15%	8,97%	17,98%	-	-	-	2,20%
Difference	31 Oct 2024	0,02%	-0,22%	-0,10%	0,01%	-	-	-	-0,09%
Index Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index	31 Oct 2024	0,35%	4,36%	9,07%	17,97%	-1,34%	6,72%	-	2,29%

as of 31 Oct 2024

	As Of	1 Month	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception 31 Jan 2022
Fund Net	31 Oct 2024	0,32%	4,00%	8,47%	17,34%	-	-	-	4,95%
Difference	31 Oct 2024	-0,03%	-0,36%	-0,60%	-0,63%	-	-	-	-1,47%
Fund Gross	31 Oct 2024	0,36%	4,15%	8,97%	17,98%	-	-	-	6,15%
Difference	31 Oct 2024	0,02%	-0,22%	-0,10%	0,01%	-	-	-	-0,26%
Index Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index	31 Oct 2024	0,35%	4,36%	9,07%	17,97%	-3,96%	38,48%	-	6,42%

as of 31 Oct 2024

	2024 (YTD)	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Fund Net	8,47%	12,33%	-13,87%	-	-	-	-	-	-	-	-
Difference	-0,60%	-0,53%	-0,33%	-	-	-	-	-	-	-	-
Fund Gross	8,97%	12,95%	-13,75%	-	-	-	-	-	-	-	-
Difference	-0,10%	0,09%	-0,21%	-	-	-	-	-	-	-	-
Index Refinitiv Qualified Global Convertible Monthly Hedged (GBP) Index	9,07%	12,86%	-13,55%	-0,52%	32,51%	12,65%	-	-	-	-	-

Performance Gross and Net of All Fees.

Past performance is not an indicator of future performance. The Gross of fees do not reflect and net of fees do reflect commissions and costs incurred on the issue and redemption, or purchases and sale, of units. If the performance is calculated on the basis of Gross/net asset values that are not denominated in the accounting currency of the collective investment scheme, its value may rise or fall as a result of currency fluctuations.

Calendar year inception performance returns will be partial for the year where the inception date for either the Fund in question or the historic performance-linked Fund (whichever is the earliest) falls within that period.

Top Holdings

Fund Top Holdings as of 31 Oct 2024

Security Name	Weight
ALIBABA GROUP HOLDING 0.5 06/01/2031	2,25%
PING AN INSURANCE GROUP 0.875 07/22/2029	1,68%
DISH NETWORK CORP 11.75 11/15/2027	1,41%
SK HYNIX INC 1.75 04/11/2030	1,09%
PALO ALTO NETWORKS 0.375 06/01/2025	0,96%
JD.COM INC 0.25 06/01/2029	0,89%
FORD MOTOR COMPANY 0 03/15/2026	0,88%
GOLD POLE CAPITAL CO LTD 1 06/25/2029	0,83%
CARNIVAL CORP 5.75 12/01/2027	0,82%
BOOKING HOLDINGS INC 0.75 05/01/2025	0,81%

Download All Holdings: Download Daily Holdings

Sector Allocation

Fund Sector Allocation as of 31 Oct 2024

Sector	Weight
Sector	Weight
IT	25,73%
Industrials	11,24%
Electronics	6,69%
Pharmaceutical	6,44%
Retail/Wholesale	6,24%
Leisure	5,70%
Services	5,26%
Utilities	4,85%
Transport	4,33%
Property	3,38%
Telecom	3,36%
Cash	3,29%
Steel/Metals	2,72%
Banking/Finance	1,85%
Insurance	1,77%
Food & Drink	1,52%
Chemicals	1,51%
Construction	1,43%
Oil & Gas	1,27%
Media	0,48%
Other	0,97%

Geographical Weights

Maturity Ladder

Fund Maturity Ladder as of 31 Oct 2024

Maturity	Weight
0 - 1 Year	17,98%
1 - 2 Years	23,47%
2 - 3 Years	16,15%
3 - 5 Years	32,24%
5 - 7 Years	8,40%
7 - 10 Years	1,33%
20 - 30 Years	0,44%

Quality Breakdown

Fund Quality Breakdown as of 31 Oct 2024

Quality	Weight
Quality	Weight
AAA	0,58%
AA+	2,70%
AA	0,70%
AA-	0,68%
A+	1,95%
A	12,82%
A-	6,98%
BBB+	12,69%
BBB	6,53%
BBB-	12,77%
BB+	4,14%
BB	6,19%
BB-	6,23%
B+	4,51%
B	3,99%
B-	4,01%
CCC	1,21%
C	5,51%
NR	5,80%

*Source: State Street Global Advisors, FinAPU.

FinAPU provides an independent risk assessment platform of issuers based on real time available fundamental information allowing to evaluate issuers and instruments using data from Refinitiv and Fitch Solutions using proprietary risk and validated models. The indicative ratings are as of the date indicated, are subject to change, and should not be relied upon as current thereafter. For more Information, please go to finapu.com.

Documents

Fund Documents

Information & Schedules

Characteristics, holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future. The holdings are taken from the accounting records of SSGA which may differ from the official books and records of the custodian.

Capital Risk: Investing involves risk including the risk of loss of capital.

Past performance is not a reliable indicator of future performance.

First net asset value taken into account corresponds to the first end of month following complete investment of the portfolio in agreement with the policy of management. Historical performance is not necessarily indicative of actual future investment performance.

THE SPDR REFINITIV GLOBAL CONVERTIBLE BOND UCITS ETF (THE “PRODUCT”) IS NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY REFINITIV LIMITED OR ANY OF ITS SUBSIDIARIES OR AFFILIATES (“REFINITIV”). REFINITIV MAKE NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE OWNERS OF THE PRODUCT(S) OR ANY MEMBER OF THE PUBLIC REGARDING THE ADVISABILITY OF INVESTING IN SECURITIES GENERALLY OR IN THE PRODUCT(S) PARTICULARLY OR THE ABILITY OF THE REFINITIV QUALIFIED GLOBAL CONVERTIBLE INDEX (THE “INDEX”) TO TRACK GENERAL MARKET PERFORMANCE. REFINITIV’ ONLY RELATIONSHIP TO THE PRODUCT(S) AND STATE STREET GLOBAL ADVISORS (THE “LICENSEE”) IS THE LICENSING OF THE INDEX, WHICH IS DETERMINED, COMPOSED AND CALCULATED BY REFINITIV OR ITS LICENSORS WITHOUT REGARD TO THE LICENSEE OR THE PRODUCT(S). REFINITIV HAS NO OBLIGATION TO TAKE THE NEEDS OF THE LICENSEE OR THE OWNERS OF THE PRODUCT(S) INTO CONSIDERATION IN CONNECTION WITH THE FOREGOING. REFINITIV IS NOT RESPONSIBLE FOR AND HAS NOT PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THE PRODUCT(S) TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY WHICH THE PRODUCT(S) IS TO BE CONVERTED INTO CASH. REFINITIV HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR TRADING OF THE PRODUCT(S).

REFINITIV DOES NOT GUARANTEE THE QUALITY, ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN. REFINITIV MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR ANY DATA INCLUDED THEREIN IN CONNECTION WITH THE RIGHTS LICENSED HEREUNDER OR FOR ANY OTHER USE. REFINITIV MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL REFINITIV HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.