CWB has posted a total return of more than 20% for the trailing 12 months, according to Morningstar performance data.
The ETF has hauled in $417.5 million worth of inflows year to date, according to IndexUniverse. The fund, which was launched in April 2009, currently holds total assets of nearly $1.5 billion.
“Convertible securities tend to be subordinate to other debt securities issued by the same issuer. Also, issuers of convertible securities are often not as strong financially as issuers with higher credit ratings,” according to CWB’s prospectus. “Convertible securities generally provide yields higher than the underlying stocks, but generally lower than comparable non-convertible securities.”
SPDR Barclays Convertible Securities ETF