SPSM
SPDR Portfolio S&P 600 Small Cap ETF
SPSM tracks the S&P Small Cap 600 index of small-cap U.S. stocks.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
3 bp
EXPENSES
$11.2 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | SSgA Funds Management Inc |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 08, 2013 |
| Assets (mns) | $11,234 |
| Expense ratio | 3 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| 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 +
| FABRINET | 0.7 % |
| ABERCROMBIE & FITCH CO-CL A | 0.6 % |
| ENSIGN GROUP INC/THE | 0.6 % |
| SPS COMMERCE INC | 0.6 % |
| ALLEGHENY TECHNOLOGIES INC | 0.6 % |
| MUELLER INDUSTRIES INC | 0.6 % |
| MERITAGE HOMES CORP | 0.5 % |
| ROBERT HALF INTL INC | 0.5 % |
| MARATHON DIGITAL HOLDINGS INC | 0.5 % |
| COMERICA INC | 0.5 % |
Constituent Breakdown
| Number of holdings | 588 |
| Herfindahl-Hirschman Index | 25 |
| Wgt avg mkt cap (mns) | $3,037 |
| Large cap (>$10bn) | 0.8% |
| Mid cap ($2-10bn) | 68.9% |
| Small cap (<$2bn) | 30.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.1 % |
 |
BERMUDA | 0.8 % |
 |
CAYMAN ISLANDS | 0.7 % |
 |
PUERTO RICO | 0.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -0.7% | 8.9% | 9.4% | -0.2% | 8.0% | 7.5% | 8.6% | Volatility | 17.5% | 19.0% | 21.5% | 21.6% | 27.1% | 22.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.00 | 72% |
| MSCI EAFE | 1.01 | 69% |
| MSCI Emg Mkts | 0.71 | 35% |
Liquidity Measures
| Avg. volume (000) | 1,745 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $31,302 |
Technical Indicators
| Recent close | $44.99 |
| 30d moving avg. | $42.31 |
| Annualized volatility | 21.2% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 8.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SPSM |
Expenses vs. SPSM |
ALTAR Score™ vs. SPSM |
|---|---|---|---|---|
| IJR | iShares Core S&P Small Cap ETF | 96.8% | +3 bp | 0.0% |
| VIOO | Vanguard S&P Small-Cap 600 ETF | 93.0% | +7 bp | 0.0% |
| QVMS | Invesco S&P SmallCap 600 QVM Multi-factor ETF | 86.8% | +12 bp | +0.2% |
| XJR | iShares ESG Screened S&P Small-Cap ETF | 86.4% | +9 bp | -0.3% |
| ESIX | SPDR S&P SmallCap 600 ESG ETF | 66.2% | +9 bp | +0.2% |
| IJS | iShares S&P Small-Cap 600 Value ETF | 63.3% | +15 bp | +1.0% |
| SLYV | SPDR S&P 600 Small Cap Value ETF | 62.9% | +12 bp | +1.0% |
| IJT | iShares S&P Small-Cap 600 Growth ETF | 62.9% | +15 bp | -1.1% |
| SLYG | SPDR S&P 600 Small Cap Growth ETF | 62.5% | +12 bp | -1.1% |
| VIOG | Vanguard S&P Small-Cap 600 Growth ETF | 61.4% | +12 bp | -1.0% |
Risk and Returns: SPSM 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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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 | --% |
Based on closing prices from 7/25/2024
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
SPSM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
SPSM
7.4%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.4% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. SPSM's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places SPSM in the 75th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SPSM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| SPSM (3 bp) Percentile rank | 9 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPSM | 3.0 | 2.8 | 5.8 |
| Peer Avg. | 29.1 | 14.0 | 43.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .