State Street SPDR Bloomberg Convertible Securities ETF
$103.86
-6.2%
Aug 10, 2026
C
MarginalGraded against CWB's own history at this drawdown — not the market's.
What it means: CWB's own history does not strongly favor buying at this level yet.
What to do: Consider watching and waiting for a deeper dip or a higher grade.
The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in securities that the Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to represent the market of U.S. convertible securities, such as convertible bonds and convertible preferred stock.
Three plain-English paragraphs — current state, historical base rate, and interpretation — so you walk away with context, not a dashboard.
In plain terms: CWB is 6.2% below its highest-ever price. Dipsern checks every past time it was this far down and grades how the next 90 days usually went.
Right now CWB — SPDR Bloomberg Convertible Securities ETF — is in a shallow pullback, down 6.2% from its record high. Last price: $103.86. A move of this size is statistically unremarkable. It's the kind of pullback that bounces fast or extends into a deeper correction; the next leg is what matters.
CWB reaches this drawdown band repeatedly in its history (693 observations), which is a large sample for the segmentation engine to compute a stable median forward return. The engine uses a rolling 90-day window and gives more weight to recent years — this lets the signal adapt to regime changes (e.g., post-COVID volatility) without losing the long-run base rate.
ETFs aggregate constituent behavior, so their drawdowns tend to be shallower but more persistent than single stocks. The median forward return at a given drawdown level for an ETF is usually a more stable signal than for an individual equity. This drawdown band tends to mean-revert quickly. The Dipsern win rate here is informative — if it's well above 50%, momentum traders treat these dips as buy-the-pullback setups.
Five tickers closest to CWB's distance from all-time high. Same category, one tap away.
Vanguard Communication Services ETF
-6.2% from ATH
SPDR S&P Retail ETF
-6.1% from ATH
iShares iBoxx $ Investment Grade Corporate Bond ETF
-5.9% from ATH
iShares Core MSCI Emerging Markets ETF
-7.0% from ATH
Communication Services Select Sector SPDR Fund
-7.1% from ATH
Dipsern segments the full drawdown range into 20 equal-width bands. The table shows the number of confirmed historical observations in each band for CWB. Median forward returns, win rates, and prediction errors are available in the full analysis.
We segment 40+ years of CWB's price history into 20 equal-width drawdown bands and compute forward median returns, win rates, and prediction error per band. No look-ahead bias. Pure NumPy. Open math, gated numbers.
Years of history
40+
Drawdown bands
20
Look-ahead bias
None
Data sources
4
See the Dipsern grade, median returns, win rates, prediction accuracy, 8 interactive charts, historical price paths, and a plain-English verdict for CWB.
Dipsern is research and a second opinion — not a broker. You'd buy CWB at your own broker.
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Signal computed Aug 10, 2026 using default parameters (90-day return period, 20 segments, 0.95 decay). Data sourced from Yahoo Finance, Binance, CoinGecko, and Steam Market.