PSK — State Street SPDR ICE Preferred Securities ETF
Preferred & Convertible Ranked #418 of 458 tracked ETFs · Issued by State Street Investment Management
PSK Price Performance — Growth of $10,000
Value of a $10,000 investment in PSK over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
PSK Drawdown
The "underwater" chart: PSK's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in PSK?
See what a lump sum in PSK would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The State Street SPDR ICE Preferred Securities ETF is a preferred and convertible securities fund managed by State Street Investment Management with $677 million in assets. It holds an ETFValuer grade of D, ranking last among the eight funds in its category and 418th out of 458 tracked ETFs overall. The fund charges an expense ratio of 0.45%, which exceeds the category median of 0.425%, while offering a dividend yield of 7.28% that sits above the median of 6.26%. Its top ten holdings represent 22.4% of assets, with the largest single position being State Street Global Advisors at 7.6%.
The fund’s price of $29.35 is positioned at the very bottom of its 52-week range, reflecting a 1-year return of -3.98% compared to the category median of +2.45%. Short-term performance has been negative across the last day, week, month, and quarter, with year-to-date returns also negative at -4.04%. This recent weakness contrasts with a positive 3-year return of +9.63%, indicating a divergence between long-term and recent results. The ETFValuer grade has remained unchanged at D for the last 35 tracked days, and price history is available for only 3.0 years.
With a beta of 1.04, the fund moves slightly more than the market, accompanied by a very low annualized volatility of 5.84%. The Sharpe ratio of -1.54 suggests that risk-adjusted returns have been negative during the measured period. Maximum drawdowns have reached -10.30%, highlighting the potential for significant declines from peak values. Liquidity is moderate, with an average daily volume of 109,909 shares and a bid-ask spread of 1.98%.
AI-generated summary based on the data on this page.
PSK Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | State Street Global Advisors | 7.58% | $54M |
| 2 | Citigroup Capital XIII | 3.67% | $26M |
| 3 | WELLS FARGO & COMPANY | 1.66% | $12M |
| 4 | CAPITAL ONE FINANCIAL CO | 1.56% | $11M |
| 5 | AT&T Inc | 1.54% | $11M |
| 6 | Duke Energy Corp | 1.40% | $10M |
| 7 | ALLSTATE CORP | 1.30% | $9M |
| 8 | CAPITAL ONE FINANCIAL CO | 1.25% | $9M |
| 9 | NEXTERA ENERGY CAPITAL | 1.21% | $9M |
| 10 | XCEL ENERGY INC | 1.20% | $9M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 22.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how PSK's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With PSK
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with PSK's top 10 — FPE overlaps most, holding 3 of the same companies as PSK's top 10 (4.1% of PSK's assets).
| ETF | Name | Shared Companies | PSK Weight | Examples |
|---|---|---|---|---|
| FPE | First Trust Preferred Securities and Income ETF | 3 | 4.1% | WELLS FARGO & COMPANY, NEXTERA ENERGY CAPITAL, XCEL ENERGY INC |
| CWB | State Street SPDR Bloomberg Convertible Securities ETF | 2 | 9.2% | State Street Global Advisors, WELLS FARGO & COMPANY |
| PFF | iShares Preferred and Income Securities ETF | 2 | 5.3% | Citigroup Capital XIII, WELLS FARGO & COMPANY |
| PFFD | Global X U.S. Preferred ETF | 2 | 5.3% | Citigroup Capital XIII, WELLS FARGO & COMPANY |
| PGX | Invesco Preferred ETF | 2 | 3.2% | AT&T Inc, WELLS FARGO & COMPANY |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What PSK's Fees Cost You
PSK charges an expense ratio of 0.45% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
PSK Dividend Income Estimator
PSK currently yields 7.28%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
PSK Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 1.98% and average daily volume is 110K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $677M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: PSK is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
PSK Performance History
| Period | Return |
|---|---|
| 1-Day | -0.10% |
| 1-Week | -0.81% |
| 1-Month | -1.31% |
| 3-Month | -2.32% |
| 6-Month | -4.54% |
| YTD | -4.04% |
| 1-Year | -3.98% |
| 3-Year | +9.63% |
How PSK Compares to Other Preferred & Convertible ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #104 | B |
ICVT | iShares Convertible Bond ETF | +23.52% | 0.2% | $7.81B |
| #172 | C |
CWB | State Street SPDR Bloomberg Convertible Securities ETF | +21.59% | 0.4% | $5.61B |
| #320 | C |
PFXF | VanEck Preferred Securities ex Financials ETF | +8.17% | 0.4% | $2.42B |
| #358 | C |
PFF | iShares Preferred and Income Securities ETF | +1.63% | 0.45% | $13.0B |
| #382 | C |
FPE | First Trust Preferred Securities and Income ETF | +3.27% | 0.83% | $6.29B |
| #385 | C |
PFFD | Global X U.S. Preferred ETF | +0.50% | 0.23% | $2.15B |
| #410 | D |
PGX | Invesco Preferred ETF | -3.49% | 0.5% | $3.73B |
| #418 | D |
PSK | State Street SPDR ICE Preferred Securities ETF | -3.98% | 0.45% | $677M |