SPEM
SPDR Portfolio Emerging Markets ETF
SPDR S&P Emerging Markets ETF objective is to replicate the performance of the S&P Emerging BMI Index. The Index measures the investable universe of publicly traded companies domiciled in emer
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
10.6 B
ASSETS UNDER MGMT
7 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 19, 2007 |
| Assets (mns) | $10,616 |
| Expense ratio | 7 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 7.2 % |
| TENCENT HOLDINGS LTD | 4.2 % |
| ALIBABA GROUP HOLDING LTD. | 2.5 % |
| HDFC BANK LIMITED | 1.5 % |
| RELIANCE INDS-SPONS GDR 144A | 1.2 % |
| ICICI BANK LTD-SPON ADR | 1.1 % |
| XIAOMI CORP. CLASS B | 1.0 % |
| CHINA CONSTRUCTION BANK-H | 1.0 % |
| MEITUAN DIANPING | 0.9 % |
| MEDIATEK INC | 0.9 % |
Constituent Breakdown
| Number of holdings | 1828 |
| Herfindahl-Hirschman Index | 100 |
| Wgt avg mkt cap (mns) | $116,468 |
| Large cap (>$10bn) | 71.3% |
| Mid cap ($2-10bn) | 19.7% |
| Small cap (<$2bn) | 8.2% |
| Developed mkts. | 6.8% |
| Emerging mkts. | 93.2% |
Country Exposure
 |
CHINA | 24.1 % |
 |
INDIA | 20.8 % |
 |
TAIWAN | 17.6 % |
 |
BRAZIL | 4.3 % |
 |
SAUDI ARABIA | 3.9 % |
 |
SOUTH AFRICA | 2.4 % |
 |
HONG KONG | 2.0 % |
 |
MALAYSIA | 1.8 % |
 |
MEXICO | 1.7 % |
 |
THAILAND | 1.7 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 2.7% | 8.1% | 7.4% | 2.8% | 5.2% | 1.4% | -- | 1.8% |
| Dividend Yield | 0.0% | 3.0% | 3.1% | 3.1% | 3.0% | 2.5% | -- | 2.4% |
| Total Returns | 2.7% | 11.1% | 10.5% | 5.9% | 8.2% | 3.9% | -- | 4.2% | Ann. Volatility | 22.9% | 18.2% | 16.0% | 17.0% | 17.9% | 19.5% | -- | 25.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.58 | 38% |
| MSCI EAFE | 0.72 | 61% |
| MSCI Emg Mkts | 0.92 | 99% |
Liquidity Measures
| Avg. volume (000) | 3,884 |
| Turnover | 1.4% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $38,496 |
Technical Indicators
| Recent close | $39.39 |
| 30d moving avg. | $38.57 |
| Annualized volatility | 15.7% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SPEM |
Expenses vs. SPEM |
ALTAR Score™ vs. SPEM |
|---|---|---|---|---|
| VWO | Vanguard FTSE Emerging Markets ETF | 65.8% | +1 bp | +0.1% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 62.7% | +2 bp | +0.1% |
| EEM | iShares MSCI Emerging Markets ETF | 62.6% | +62 bp | -0.2% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 61.4% | +23 bp | -0.1% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 60.9% | +59 bp | -0.7% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 60.3% | +4 bp | -0.4% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 59.8% | +8 bp | -0.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 59.7% | +29 bp | -0.6% |
| SCHE | Schwab Emerging Markets Equity ETF | 59.7% | +4 bp | +0.8% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 59.4% | +28 bp | -0.7% |
Risk and Returns: SPEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/30/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
SPEM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
SPEM
11.3%
Cat. Avg
8.3%
ALTAR Score™ Calculation
Category Overview
There are 110 funds in the Emerging Equity category, with an average ALTAR Score™
of 8.3% and a standard deviation of
2.7%. SPEM's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places SPEM in the 87th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPEMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| SPEM (7 bp) Percentile rank | 3 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPEM | 7.0 | 3.0 | 10 |
| Peer Avg. | 47.9 | 12.9 | 60.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .