- Last Ratings Update:06/30/2014
- Price as of 06/30/2014 :$43.65
- Net Assets:$259.2 Million
- Peer Rank:237 of 282
- Investment Rating:D+
We rate SPDR Wells Fargo Preferred Stk ETF at D+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a short term portfolio management tenure. The fund may be considered for investors seeking an Equity Income strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The SPDR Wells Fargo Preferred Stk ETF has returned an annual rate of 8.48% since inception. More recently, the fund has generated a total return of 5.01% in the last three years, 8.73% in the last year, and 11.30% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 37% of them. It has also outpaced 26% of its competitors on a one year basis for the period ending 6/30/2014. On a year to date basis, PSK has returned 12.97%.
Downside risk has been below average. PSK has a draw down risk of -14.84%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 6.6%. This fund has had very little volatility in its monthly performance over the last 36 months. As of 6/30/2014, the fund was trading at a price of $43.65, which is 0.7% below its 52-week high of $43.94 and 1.6% above its 52-week low of $42.95.
Low expense ratio helps performance. On total assets of $259.20 million, PSK maintains a low expense ratio compared to its Equity Income peers of just 0.45% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As PSK is an exchange traded fund, it has no front end or back end load.
The SPDR Wells Fargo Preferred Stk ETF is managed by John A. Tucker at SSgA Funds Management Inc. This fund is one of 126 SSgA Funds Management Inc exchange-traded funds launched since 12/16/1998 that we track.
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