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

14.4 B

ASSETS UNDER MGMT

7 bp

EXPENSES
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateMar 19, 2007
Assets (mns)$14,446
Expense ratio7 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
TAIWAN SEMICONDUCTOR MANUFAC 10.3 %
TENCENT HOLDINGS LTD 4.8 %
ALIBABA GROUP HOLDING LTD. 3.4 %
HDFC BANK LIMITED 1.2 %
RELIANCE INDS-SPONS GDR 144A 1.0 %
XIAOMI CORP. CLASS B 1.0 %
HON HAI PRECISION INDUSTRY 0.9 %
CHINA CONSTRUCTION BANK-H 0.9 %
ICICI BANK LTD-SPON ADR 0.8 %
PINDUODUO, INC. SPONSORED ADR CLASS A 0.8 %
Constituent Breakdown
Number of holdings1773
Herfindahl-Hirschman Index 139
Wgt avg mkt cap (mns)$155,209
Large cap (>$10bn)58.8%
Mid cap ($2-10bn)17.9%
Small cap (<$2bn)7.2%
Developed mkts.3.3%
Emerging mkts.85.3%
Country Exposure
CHINA 25.3 %
TAIWAN 21.3 %
INDIA 17.0 %
BRAZIL 3.8 %
SAUDI ARABIA 3.3 %
SOUTH AFRICA 2.5 %
HONG KONG 2.0 %
MEXICO 1.7 %
MALAYSIA 1.6 %
UAE 1.5 %
Historical Performance


Standardized Performance (as of 09/30/2025)
 YTD1 YR2 YR3 YR5 YR10 YR20 YRIncep.
Price Returns 22.0% 13.4% 18.1% 14.7% 5.1% 6.0% -- 2.7%
Dividend Yield 0.0% 1.8% 2.6% 2.9% 2.8% 2.5% -- 2.4%
Total Returns 22.0% 15.2% 20.7% 17.6% 7.9% 8.5% -- 5.1%
Ann. Volatility 17.4% 17.0% 15.7% 15.9% 17.2% 19.0% -- 24.8%
Market Correlations
versus...BetaR-squared
S&P 5000.6535%
MSCI EAFE0.6241%
MSCI Emg Mkts0.7567%
Liquidity Measures
Avg. volume (000)1,940
ADV traded (mns)$91
Turnover0.6%
Avg. Bid/Ask (% of price)0.02%
Technical Indicators
Recent close$46.98
30d moving avg.$46.22
Annualized volatility14.6%
Relative strength (RSI)51
Short interest0.4%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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 -- -- -- -- -- -- --
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Dividends per share -- -- -- -- -- -- --
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Return on Equity
Net Margins

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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 10/16/2025
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings



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

10.4%

Cat. Avg

7.8%


ALTAR Score™ Calculation

Category Overview
There are 122 funds in the Emerging Equity category, with an average ALTAR Score™ of 7.8% and a standard deviation of 2.6%. SPEM's ALTAR Score™ is approximately 1.0 standard deviations above the category average. This places SPEM in the 84th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

SPEM
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Passive
Emerging Market Equity ETFs
# of ETFs 55
Avg. Expense Ratio 51.4 bp
Std. Deviation 23.9 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 2.1 9.1
Peer Avg. 51.4 34.2 85.6
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .