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

7 bp

EXPENSES

$9.1 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateMar 19, 2007
Assets (mns)$9,120
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 7.8 %
TENCENT HOLDINGS LTD 3.5 %
ALIBABA GROUP HOLDING LTD. 1.6 %
RELIANCE INDS-SPONS GDR 144A 1.5 %
HDFC BANK LIMITED 1.3 %
PINDUODUO, INC. SPONSORED ADR CLASS A 1.1 %
HON HAI PRECISION INDUSTRY 1.0 %
MEDIATEK INC 0.9 %
ICICI BANK LTD-SPON ADR 0.9 %
CHINA CONSTRUCTION BANK-H 0.8 %
Constituent Breakdown
Number of holdings1995
Herfindahl-Hirschman Index 97
Wgt avg mkt cap (mns)$107,197
Large cap (>$10bn)68.7%
Mid cap ($2-10bn)21.4%
Small cap (<$2bn)9.0%
Developed mkts.6.6%
Emerging mkts.93.3%
Country Exposure
INDIA 20.7 %
TAIWAN 20.5 %
CHINA 20.3 %
BRAZIL 4.6 %
SAUDI ARABIA 3.8 %
SOUTH AFRICA 2.1 %
HONG KONG 2.0 %
MALAYSIA 1.9 %
MEXICO 1.8 %
THAILAND 1.7 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 3.1% 13.1% 3.1% -4.1% 4.2% 3.4% 3.9%
Volatility 12.9% 13.5% 15.8% 17.1% 20.5% 19.2% --
Market Correlations
versus...BetaR-squared
S&P 5000.5942%
MSCI EAFE0.7664%
MSCI Emg Mkts0.9298%
Liquidity Measures
Avg. volume (000)1,264
Turnover0.5%
Avg. Bid/Ask (% of price)0.03%
ADV of underlying (mns)$39,655
Technical Indicators
Recent close$38.35
30d moving avg.$38.00
Annualized volatility16.4%
Relative strength (RSI)56
Short interest (ETF)0.4%
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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Risk and Returns: SPEM vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
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
  2023 2024E Fwd Est 2025E
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 --%
1.2 12.0 1.6 3.0% --
Based on closing prices from 6/20/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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 Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

SPEM

7.2%

Cat. Avg

7.4%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™7.2%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 165 funds in the Emerging category, with an average ALTAR Score™ of 7.4% and a standard deviation of 3.8%. SPEM's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places SPEM in the 47th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SPEM
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
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Today's Trading

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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. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .