SPDR Bloomberg Convertible Securities ETF (CWB): Historical Returns

Data Source: from January 1988 to January 2024 (~36 years)
Consolidated Returns as of 31 January 2024
Live Update: Feb 27 2024, 02:00PM Eastern Time
Category: Fixed Income
SPDR Bloomberg Convertible Securities ETF (CWB) ETF
ETF • LIVE PERFORMANCE (USD currency)
0.43%
1 Day
Feb 27 2024, 02:00PM Eastern Time
0.56%
Current Month
February 2024

In the last 30 Years, the SPDR Bloomberg Convertible Securities ETF (CWB) ETF obtained a 8.39% compound annual return, with a 13.01% standard deviation.

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The ETF is related to the following investment themes:

  • Asset Class: Bond
  • Region: North America
  • Country: U.S.
  • Bond - Duration: All-Term

The SPDR Bloomberg Convertible Securities ETF (CWB) ETF is part of the following Lazy Portfolios:

Portfolio Name Author CWB Weight Currency
Ulcer Free Strategy Aim Ways 14.00% USD

Investment Returns as of Jan 31, 2024

The SPDR Bloomberg Convertible Securities ETF (CWB) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF (CWB) ETF
Consolidated returns as of 31 January 2024
Live Update: Feb 27 2024, 02:00PM Eastern Time
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Jan 31, 2024
  1 Day Time ET(*) Feb 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~36Y)
SPDR Bloomberg Convertible Securities ETF (CWB) ETF 0.43 0.56 -1.40 0.12 6.48 9.69 8.56 8.39 9.38
US Inflation Adjusted return -1.70 -1.51 3.28 5.30 5.62 5.71 6.43
Returns over 1 year are annualized | Available data source: since Jan 1988
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Jan 2024. Current inflation (annualized) is 1Y: 3.11% , 5Y: 4.16% , 10Y: 2.79% , 30Y: 2.53%

In 2023, the SPDR Bloomberg Convertible Securities ETF (CWB) ETF granted a 2.23% dividend yield. If you are interested in getting periodic income, please refer to the SPDR Bloomberg Convertible Securities ETF (CWB) ETF: Dividend Yield page.

Capital Growth as of Jan 31, 2024

An investment of 1$, since February 1994, now would be worth 11.21$, with a total return of 1021.05% (8.39% annualized).

The Inflation Adjusted Capital now would be 5.30$, with a net total return of 429.60% (5.71% annualized).
An investment of 1$, since January 1988, now would be worth 25.37$, with a total return of 2437.27% (9.38% annualized).

The Inflation Adjusted Capital now would be 9.47$, with a net total return of 847.12% (6.43% annualized).

Investment Metrics as of Jan 31, 2024

Metrics of SPDR Bloomberg Convertible Securities ETF (CWB) ETF, updated as of 31 January 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF (CWB) ETF
Advanced Metrics
Data Source: 1 January 1988 - 31 January 2024 (~36 years)
Swipe left to see all data
Metrics as of Jan 31, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~36Y)
Investment Return (%) -1.40 10.48 0.12 6.48 -3.67 9.69 8.56 7.63 8.39 9.38
Infl. Adjusted Return (%) details -1.70 9.71 -1.51 3.28 -8.83 5.30 5.62 4.93 5.71 6.43
US Inflation (%) 0.31 0.70 1.66 3.11 5.66 4.16 2.79 2.57 2.53 2.77
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -9.38 -26.54 -26.54 -26.54 -43.81 -43.81 -43.81
Start to Recovery (# months) details 5 27* 27* 27* 43 43 43
Start (yyyy mm) 2023 08 2021 11 2021 11 2021 11 2007 06 2007 06 2007 06
Start to Bottom (# months) 3 11 11 11 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 2 16 16 16 25 25 25
End (yyyy mm) 2023 12 - - - 2010 12 2010 12 2010 12
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 08 2021 11 2021 11 2021 11 2007 06 2007 06 2007 06
Start to Bottom (# months) 3 11 11 11 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 2 16 16 16 25 25 25
End (yyyy mm) 2023 12 - - - 2010 12 2010 12 2010 12
Longest negative period (# months) details 9 36* 38 38 63 102 102
Period Start (yyyy mm) 2023 02 2021 02 2020 09 2020 09 2004 02 2000 09 2000 09
Period End (yyyy mm) 2023 10 2024 01 2023 10 2023 10 2009 04 2009 02 2009 02
Annualized Return (%) -4.80 -3.67 -0.56 -0.56 -0.24 -0.49 -0.49
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -10.23 -33.34 -33.34 -33.34 -45.50 -45.50 -45.50
Start to Recovery (# months) details 5 35* 35* 35* 70 70 70
Start (yyyy mm) 2023 08 2021 03 2021 03 2021 03 2007 06 2007 06 2007 06
Start to Bottom (# months) 3 19 19 19 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 2 16 16 16 52 52 52
End (yyyy mm) 2023 12 - - - 2013 03 2013 03 2013 03
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 08 2021 03 2021 03 2021 03 2007 06 2007 06 2007 06
Start to Bottom (# months) 3 19 19 19 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 2 16 16 16 52 52 52
End (yyyy mm) 2023 12 - - - 2013 03 2013 03 2013 03
Longest negative period (# months) details 10 36* 42* 42* 81 137 137
Period Start (yyyy mm) 2023 02 2021 02 2020 08 2020 08 2005 01 1997 10 1997 10
Period End (yyyy mm) 2023 11 2024 01 2024 01 2024 01 2011 09 2009 02 2009 02
Annualized Return (%) -0.81 -8.83 -0.30 -0.30 -0.34 -0.21 -0.21
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 11.73 13.12 16.59 13.39 13.27 13.01 12.43
Sharpe Ratio 0.12 -0.45 0.48 0.55 0.48 0.47 0.43
Sortino Ratio 0.18 -0.62 0.67 0.78 0.63 0.62 0.57
Ulcer Index 3.49 16.40 13.00 9.57 11.12 10.23 9.44
Ratio: Return / Standard Deviation 0.55 -0.28 0.58 0.64 0.58 0.64 0.75
Ratio: Return / Deepest Drawdown 0.69 -0.14 0.36 0.32 0.17 0.19 0.21
% Positive Months details 50% 47% 58% 60% 62% 62% 63%
Positive Months 6 17 35 72 151 226 276
Negative Months 6 19 25 48 89 134 157
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 8.56 14.32 14.32 16.49
Worst 10 Years Return (%) - Annualized 4.41 3.38 3.38
Best 10 Years Return (%) - Annualized 5.62 12.18 12.18 13.44
Worst 10 Years Return (%) - Annualized 2.58 0.71 0.71
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 78.88 24.99 21.03 14.32 9.94 8.39
Worst Rolling Return (%) - Annualized -40.51 -12.29 -3.57 3.38 6.12
% Positive Periods 73% 89% 97% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 73.59 25.94 16.42 9.56 6.38 7.10
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - 0.95 3.58 5.76
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 74.31 21.34 18.52 12.18 7.60 5.71
Worst Rolling Return (%) - Annualized -41.54 -14.16 -6.05 0.71 3.96
% Positive Periods 70% 85% 88% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 73.59 25.94 16.42 9.56 6.38 7.10
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - 0.95 3.58 5.76
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1988 - Jan 2024)
Best Rolling Return (%) - Annualized 78.88 26.73 21.03 16.49 10.89 11.11
Worst Rolling Return (%) - Annualized -40.51 -12.29 -3.57 3.38 6.12 8.15
% Positive Periods 77% 91% 97% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 73.59 25.94 16.42 9.56 6.38 7.10
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - 0.95 3.58 5.74
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 74.31 23.08 18.52 13.44 7.99 8.66
Worst Rolling Return (%) - Annualized -41.54 -14.16 -6.05 0.71 3.96 5.49
% Positive Periods 72% 88% 90% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 73.59 25.94 16.42 9.56 6.38 7.10
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - 0.95 3.58 5.74
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Jan 31, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of SPDR Bloomberg Convertible Securities ETF (CWB) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF (CWB) ETF
Monthly correlations as of 31 January 2024
Swipe left to see all data
Correlation vs CWB
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1992
VTI
US Total Stock Market
0.91
0.89
0.89
0.88
0.88
SPY
US Large Cap
0.87
0.86
0.86
0.84
0.84
IJR
US Small Cap
0.93
0.86
0.83
0.84
0.85
VNQ
US REITs
0.88
0.74
0.67
0.61
0.61
QQQ
US Technology
0.78
0.85
0.85
0.77
0.76
PFF
Preferred Stocks
0.70
0.73
0.70
0.50
0.49
EFA
EAFE Stocks
0.81
0.79
0.80
0.78
0.75
VT
World All Countries
0.90
0.88
0.89
0.86
0.85
EEM
Emerging Markets
0.83
0.75
0.73
0.74
0.72
VGK
Europe
0.77
0.78
0.77
0.77
0.76
VPL
Pacific
0.88
0.81
0.80
0.67
0.63
FLLA
Latin America
0.89
0.65
0.56
0.67
0.67
BND
US Total Bond Market
0.69
0.49
0.40
0.19
0.20
TLT
Long Term Treasuries
0.76
0.19
0.12
-0.09
-0.08
BIL
US Cash
0.21
-0.11
-0.06
-0.03
-0.02
TIP
TIPS
0.58
0.54
0.48
0.25
0.25
LQD
Invest. Grade Bonds
0.75
0.63
0.57
0.39
0.39
HYG
High Yield Bonds
0.79
0.76
0.76
0.73
0.72
BNDX
International Bonds
0.66
0.48
0.37
0.21
0.21
EMB
Emerg. Market Bonds
0.87
0.75
0.69
0.59
0.59
GLD
Gold
0.06
0.21
0.16
0.12
0.12
DBC
Commodities
0.07
0.45
0.43
0.38
0.38

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF (CWB) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1988 - 31 January 2024 (~36 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-43.81% Jun 2007 Nov 2008 18 Dec 2010 25 43 20.01
-26.54% Nov 2021 Sep 2022 11 in progress 16 27 18.82
-25.68% Feb 2001 Sep 2002 20 Oct 2003 13 33 13.18
-17.36% May 1998 Aug 1998 4 Nov 1999 15 19 8.91
-16.14% Feb 2020 Mar 2020 2 Jun 2020 3 5 7.24
-15.56% Jun 2011 Sep 2011 4 Dec 2012 15 19 7.17
-11.86% Sep 2000 Nov 2000 3 Jan 2001 2 5 5.32
-11.16% Jun 2015 Jan 2016 8 Jul 2016 6 14 5.92
-10.00% Sep 2018 Dec 2018 4 Feb 2019 2 6 5.12
-5.46% Feb 1994 Apr 1994 3 Apr 1995 12 15 3.32
-5.41% May 2019 May 2019 1 Jul 2019 2 3 2.74
-5.33% Jan 2005 Apr 2005 4 Jun 2005 2 6 2.57
-5.16% Jun 1996 Jul 1996 2 Sep 1996 2 4 2.54
-4.34% Sep 2014 Jan 2015 5 Apr 2015 3 8 2.17
-4.04% Mar 2021 Mar 2021 1 Jun 2021 3 4 2.33
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 119 3.0 Months 32.96%
 
DD = 0% 32.96%
 
0% < DD <= -5% 118 3.1 Months 32.69%
 
DD <= -5% 65.65%
 
-5% < DD <= -10% 44 8.2 Months 12.19%
 
DD <= -10% 77.84%
 
-10% < DD <= -15% 32 11.3 Months 8.86%
 
DD <= -15% 86.70%
 
-15% < DD <= -20% 16 22.6 Months 4.43%
 
DD <= -20% 91.14%
 
-20% < DD <= -25% 19 19.0 Months 5.26%
 
DD <= -25% 96.40%
 
-25% < DD <= -30% 5 72.2 Months 1.39%
 
DD <= -30% 97.78%
 
-30% < DD <= -35% 2 180.5 Months 0.55%
 
DD <= -35% 98.34%
 
-35% < DD <= -40% 3 120.3 Months 0.83%
 
DD <= -40% 99.17%
 
-40% < DD <= -45% 3 120.3 Months 0.83%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-45.50% Jun 2007 Nov 2008 18 Mar 2013 52 70 18.53
-33.34% Mar 2021 Sep 2022 19 in progress 16 35 23.38
-27.82% Feb 2001 Sep 2002 20 Dec 2003 15 35 14.70
-17.97% May 1998 Aug 1998 4 Dec 1999 16 20 9.82
-15.89% Feb 2020 Mar 2020 2 May 2020 2 4 7.69
-12.62% Sep 2000 Nov 2000 3 Jan 2001 2 5 5.83
-11.40% Jun 2015 Jan 2016 8 Aug 2016 7 15 6.07
-10.40% Sep 2018 Dec 2018 4 Apr 2019 4 8 4.76
-7.46% Feb 1994 Jan 1995 12 May 1995 4 16 4.60
-6.31% Jan 2005 Apr 2005 4 Jun 2005 2 6 3.10
-5.53% Jun 1996 Jul 1996 2 Sep 1996 2 4 2.79
-5.44% May 2019 May 2019 1 Jul 2019 2 3 2.75
-3.82% Aug 2005 Oct 2005 3 Jan 2006 3 6 1.72
-3.44% Feb 1997 Mar 1997 2 May 1997 2 4 2.19
-3.39% Apr 2006 Jul 2006 4 Oct 2006 3 7 1.85
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 91 4.0 Months 25.21%
 
DD = 0% 25.21%
 
0% < DD <= -5% 114 3.2 Months 31.58%
 
DD <= -5% 56.79%
 
-5% < DD <= -10% 59 6.1 Months 16.34%
 
DD <= -10% 73.13%
 
-10% < DD <= -15% 27 13.4 Months 7.48%
 
DD <= -15% 80.61%
 
-15% < DD <= -20% 25 14.4 Months 6.93%
 
DD <= -20% 87.53%
 
-20% < DD <= -25% 13 27.8 Months 3.60%
 
DD <= -25% 91.14%
 
-25% < DD <= -30% 15 24.1 Months 4.16%
 
DD <= -30% 95.29%
 
-30% < DD <= -35% 11 32.8 Months 3.05%
 
DD <= -35% 98.34%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 98.34%
 
-40% < DD <= -45% 5 72.2 Months 1.39%
 
DD <= -45% 99.72%
 
-45% < DD <= -50% 1 361.0 Months 0.28%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-43.81% Jun 2007 Nov 2008 18 Dec 2010 25 43 20.01
-26.54% Nov 2021 Sep 2022 11 in progress 16 27 18.82
-25.68% Feb 2001 Sep 2002 20 Oct 2003 13 33 13.18
-17.36% May 1998 Aug 1998 4 Nov 1999 15 19 8.91
-16.94% Jul 1990 Oct 1990 4 Feb 1991 4 8 9.39
-16.14% Feb 2020 Mar 2020 2 Jun 2020 3 5 7.24
-15.56% Jun 2011 Sep 2011 4 Dec 2012 15 19 7.17
-11.86% Sep 2000 Nov 2000 3 Jan 2001 2 5 5.32
-11.16% Jun 2015 Jan 2016 8 Jul 2016 6 14 5.92
-10.00% Sep 2018 Dec 2018 4 Feb 2019 2 6 5.12
-5.46% Feb 1994 Apr 1994 3 Apr 1995 12 15 3.32
-5.41% May 2019 May 2019 1 Jul 2019 2 3 2.74
-5.33% Jan 2005 Apr 2005 4 Jun 2005 2 6 2.57
-5.25% Sep 1989 Jan 1990 5 Jun 1990 5 10 3.23
-5.16% Jun 1996 Jul 1996 2 Sep 1996 2 4 2.54
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 158 2.7 Months 36.41%
 
DD = 0% 36.41%
 
0% < DD <= -5% 145 3.0 Months 33.41%
 
DD <= -5% 69.82%
 
-5% < DD <= -10% 48 9.0 Months 11.06%
 
DD <= -10% 80.88%
 
-10% < DD <= -15% 34 12.8 Months 7.83%
 
DD <= -15% 88.71%
 
-15% < DD <= -20% 17 25.5 Months 3.92%
 
DD <= -20% 92.63%
 
-20% < DD <= -25% 19 22.8 Months 4.38%
 
DD <= -25% 97.00%
 
-25% < DD <= -30% 5 86.8 Months 1.15%
 
DD <= -30% 98.16%
 
-30% < DD <= -35% 2 217.0 Months 0.46%
 
DD <= -35% 98.62%
 
-35% < DD <= -40% 3 144.7 Months 0.69%
 
DD <= -40% 99.31%
 
-40% < DD <= -45% 3 144.7 Months 0.69%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-45.50% Jun 2007 Nov 2008 18 Mar 2013 52 70 18.53
-33.34% Mar 2021 Sep 2022 19 in progress 16 35 23.38
-27.82% Feb 2001 Sep 2002 20 Dec 2003 15 35 14.70
-21.54% Sep 1989 Oct 1990 14 May 1991 7 21 9.35
-17.97% May 1998 Aug 1998 4 Dec 1999 16 20 9.82
-15.89% Feb 2020 Mar 2020 2 May 2020 2 4 7.69
-12.62% Sep 2000 Nov 2000 3 Jan 2001 2 5 5.83
-11.40% Jun 2015 Jan 2016 8 Aug 2016 7 15 6.07
-10.40% Sep 2018 Dec 2018 4 Apr 2019 4 8 4.76
-7.46% Feb 1994 Jan 1995 12 May 1995 4 16 4.60
-6.31% Jan 2005 Apr 2005 4 Jun 2005 2 6 3.10
-5.53% Jun 1996 Jul 1996 2 Sep 1996 2 4 2.79
-5.44% May 2019 May 2019 1 Jul 2019 2 3 2.75
-3.82% Aug 2005 Oct 2005 3 Jan 2006 3 6 1.72
-3.73% Jul 1988 Dec 1988 6 Jan 1989 1 7 2.62
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 123 3.5 Months 28.34%
 
DD = 0% 28.34%
 
0% < DD <= -5% 143 3.0 Months 32.95%
 
DD <= -5% 61.29%
 
-5% < DD <= -10% 65 6.7 Months 14.98%
 
DD <= -10% 76.27%
 
-10% < DD <= -15% 30 14.5 Months 6.91%
 
DD <= -15% 83.18%
 
-15% < DD <= -20% 27 16.1 Months 6.22%
 
DD <= -20% 89.40%
 
-20% < DD <= -25% 14 31.0 Months 3.23%
 
DD <= -25% 92.63%
 
-25% < DD <= -30% 15 28.9 Months 3.46%
 
DD <= -30% 96.08%
 
-30% < DD <= -35% 11 39.5 Months 2.53%
 
DD <= -35% 98.62%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 98.62%
 
-40% < DD <= -45% 5 86.8 Months 1.15%
 
DD <= -45% 99.77%
 
-45% < DD <= -50% 1 434.0 Months 0.23%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 

Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF (CWB) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1988 - 31 January 2024 (~36 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -40.51 12/2007
11/2008
0.59$ -7.53 0.92$ 11.27 1.11$ 22.87 1.22$ 78.88 04/2020
03/2021
1.78$ 6.48 26.07%
2Y -21.88 03/2007
02/2009
0.61$ -0.61 0.98$ 9.60 1.20$ 19.22 1.42$ 37.01 01/2019
12/2020
1.87$ -1.74 16.02%
3Y -12.29 03/2006
02/2009
0.67$ 2.68 1.08$ 9.53 1.31$ 15.36 1.53$ 24.99 11/2018
10/2021
1.95$ -3.67 10.77%
5Y -3.57 03/2004
02/2009
0.83$ 2.95 1.15$ 9.17 1.55$ 13.53 1.88$ 21.03 03/2016
02/2021
2.59$ 9.69 2.99%
7Y 0.04 12/2001
11/2008
1.00$ 5.07 1.41$ 8.65 1.78$ 11.38 2.12$ 14.26 02/2014
01/2021
2.54$ 9.53 0.00%
10Y 3.38 12/1998
11/2008
1.39$ 5.38 1.68$ 7.91 2.14$ 10.75 2.77$ 14.32 10/2011
09/2021
3.81$ 8.56 0.00%
15Y 5.15 02/2001
01/2016
2.12$ 6.38 2.52$ 7.46 2.94$ 8.79 3.53$ 11.42 12/2008
11/2023
5.06$ 11.24 0.00%
20Y 6.12 04/2000
03/2020
3.28$ 7.35 4.13$ 7.94 4.60$ 8.99 5.59$ 9.94 10/2001
09/2021
6.65$ 7.63 0.00%
30Y 8.39 02/1994
01/2024
11.21$ 8.39 11.21$ 8.39 11.21$ 8.39 11.21$ 8.39 02/1994
01/2024
11.21$ 8.39 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -41.54 11/2007
10/2008
0.58$ -9.31 0.90$ 8.51 1.08$ 20.33 1.20$ 74.31 04/2020
03/2021
1.74$ 3.28 29.23%
2Y -23.94 12/2006
11/2008
0.57$ -2.85 0.94$ 7.11 1.14$ 16.27 1.35$ 34.58 01/2019
12/2020
1.81$ -6.17 21.36%
3Y -14.16 03/2006
02/2009
0.63$ 0.15 1.00$ 7.02 1.22$ 12.91 1.43$ 21.34 03/2018
02/2021
1.78$ -8.83 14.46%
5Y -6.05 03/2004
02/2009
0.73$ 0.51 1.02$ 6.49 1.36$ 10.33 1.63$ 18.52 03/2016
02/2021
2.33$ 5.30 11.30%
7Y -2.54 12/2001
11/2008
0.83$ 2.85 1.21$ 6.13 1.51$ 8.91 1.81$ 12.49 02/2014
01/2021
2.27$ 5.84 2.53%
10Y 0.71 12/1998
11/2008
1.07$ 3.25 1.37$ 5.56 1.71$ 8.46 2.25$ 12.18 10/2011
09/2021
3.15$ 5.62 0.00%
15Y 2.74 03/1994
02/2009
1.50$ 3.97 1.79$ 5.12 2.11$ 6.57 2.59$ 8.72 12/2008
11/2023
3.50$ 8.46 0.00%
20Y 3.96 04/2000
03/2020
2.17$ 5.06 2.68$ 5.65 3.00$ 6.44 3.48$ 7.60 10/2001
09/2021
4.32$ 4.93 0.00%
30Y 5.71 02/1994
01/2024
5.29$ 5.71 5.29$ 5.71 5.29$ 5.71 5.29$ 5.71 02/1994
01/2024
5.29$ 5.71 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -40.51 12/2007
11/2008
0.59$ -5.50 0.94$ 11.62 1.11$ 22.87 1.22$ 78.88 04/2020
03/2021
1.78$ 6.48 22.99%
2Y -21.88 03/2007
02/2009
0.61$ 0.84 1.01$ 10.08 1.21$ 19.23 1.42$ 37.01 01/2019
12/2020
1.87$ -1.74 13.41%
3Y -12.29 03/2006
02/2009
0.67$ 4.86 1.15$ 10.18 1.33$ 15.84 1.55$ 26.73 11/1990
10/1993
2.03$ -3.67 8.79%
5Y -3.57 03/2004
02/2009
0.83$ 3.91 1.21$ 9.84 1.59$ 14.64 1.97$ 21.03 03/2016
02/2021
2.59$ 9.69 2.41%
7Y 0.04 12/2001
11/2008
1.00$ 5.77 1.48$ 9.57 1.89$ 13.05 2.36$ 19.23 11/1990
10/1997
3.42$ 9.53 0.00%
10Y 3.38 12/1998
11/2008
1.39$ 5.72 1.74$ 9.21 2.41$ 12.16 3.14$ 16.49 11/1990
10/2000
4.60$ 8.56 0.00%
15Y 5.15 02/2001
01/2016
2.12$ 6.54 2.58$ 8.04 3.18$ 11.24 4.93$ 13.07 11/1990
10/2005
6.31$ 11.24 0.00%
20Y 6.12 04/2000
03/2020
3.28$ 7.50 4.24$ 8.40 5.02$ 9.33 5.95$ 10.89 01/1988
12/2007
7.89$ 7.63 0.00%
30Y 8.15 11/1993
10/2023
10.48$ 8.72 12.29$ 9.27 14.27$ 10.46 19.76$ 11.11 01/1991
12/2020
23.61$ 8.39 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -41.54 11/2007
10/2008
0.58$ -8.45 0.91$ 8.13 1.08$ 20.19 1.20$ 74.31 04/2020
03/2021
1.74$ 3.28 27.49%
2Y -23.94 12/2006
11/2008
0.57$ -1.86 0.96$ 7.22 1.14$ 16.28 1.35$ 34.58 01/2019
12/2020
1.81$ -6.17 19.02%
3Y -14.16 03/2006
02/2009
0.63$ 1.54 1.04$ 7.35 1.23$ 12.79 1.43$ 23.08 11/1990
10/1993
1.86$ -8.83 11.81%
5Y -6.05 03/2004
02/2009
0.73$ 1.72 1.08$ 7.62 1.44$ 11.78 1.74$ 18.52 03/2016
02/2021
2.33$ 5.30 9.09%
7Y -2.54 12/2001
11/2008
0.83$ 3.23 1.24$ 6.99 1.60$ 10.03 1.95$ 16.02 11/1990
10/1997
2.82$ 5.84 2.00%
10Y 0.71 12/1998
11/2008
1.07$ 3.43 1.40$ 6.63 1.89$ 9.53 2.48$ 13.44 11/1990
10/2000
3.52$ 5.62 0.00%
15Y 2.74 03/1994
02/2009
1.50$ 4.22 1.85$ 5.57 2.25$ 8.29 3.30$ 10.09 11/1990
10/2005
4.22$ 8.46 0.00%
20Y 3.96 04/2000
03/2020
2.17$ 5.15 2.73$ 5.83 3.10$ 6.76 3.70$ 7.99 11/1990
10/2010
4.65$ 4.93 0.00%
30Y 5.49 11/1993
10/2023
4.96$ 6.07 5.85$ 6.61 6.81$ 7.94 9.90$ 8.66 01/1991
12/2020
12.09$ 5.71 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the SPDR Bloomberg Convertible Securities ETF (CWB) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in SPDR Bloomberg Convertible Securities ETF (CWB) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.50
60%
0.03
40%
-3.03
60%
1.51
60%
-0.28
40%
2.69
80%
3.27
80%
1.39
60%
-2.88
0%
0.77
80%
4.04
80%
2.63
60%
Best 6.0
2023
3.5
2019
1.6
2022
11.5
2020
6.9
2020
6.6
2020
7.4
2020
9.2
2020
-0.3
2019
3.2
2021
13.7
2020
7.1
2020
Worst -7.4
2022
-3.5
2020
-13.1
2020
-7.7
2022
-5.4
2019
-5.9
2022
-1.1
2021
-2.8
2023
-6.7
2022
-4.2
2023
-4.5
2021
-2.7
2022
Monthly Seasonality over the period Feb 1988 - Jan 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.17
60%
0.91
60%
-1.10
50%
1.21
70%
0.83
70%
1.41
70%
2.24
70%
1.13
70%
-1.84
20%
0.28
70%
2.37
70%
0.54
40%
Best 8.0
2019
4.7
2014
5.3
2016
11.5
2020
6.9
2020
6.6
2020
7.4
2020
9.2
2020
1.2
2016
4.5
2015
13.7
2020
7.1
2020
Worst -7.4
2022
-3.5
2020
-13.1
2020
-7.7
2022
-5.4
2019
-5.9
2022
-1.5
2014
-2.8
2023
-6.7
2022
-6.6
2018
-4.5
2021
-5.4
2018
Monthly Seasonality over the period Feb 1988 - Jan 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.54
70%
0.66
61%
0.43
64%
1.61
69%
1.00
69%
0.36
53%
0.98
56%
0.47
64%
-0.56
53%
-0.06
64%
1.42
69%
1.91
72%
Best 8.0
2019
6.3
2000
6.4
2009
11.5
2020
6.9
2020
6.6
2020
7.4
2020
9.2
2020
4.5
2010
7.2
2011
13.7
2020
8.7
2000
Worst -7.4
2022
-5.9
2001
-13.1
2020
-7.7
2022
-6.5
2010
-7.5
2002
-8.5
2002
-10.9
1998
-14.0
2008
-19.4
2008
-8.9
2000
-5.4
2018
Monthly Seasonality over the period Feb 1988 - Jan 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the SPDR Bloomberg Convertible Securities ETF (CWB) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF (CWB) ETF
Monthly Returns Distribution
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1988 - 31 January 2024 (~36 years)
226 Positive Months (63%) - 134 Negative Months (37%)
276 Positive Months (64%) - 157 Negative Months (36%)
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(Scroll down to see all data)
Investment Returns, up to April 2009, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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