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

$10.2 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSSgA Funds Management Inc
CategoryUS
Asset classEquity
Websitelink...
Inception dateJul 08, 2013
Assets (mns)$10,167
Expense ratio3 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
ABERCROMBIE & FITCH CO-CL A 0.8 %
FABRINET 0.8 %
ALLEGHENY TECHNOLOGIES INC 0.6 %
SPS COMMERCE INC 0.6 %
ENSIGN GROUP INC/THE 0.6 %
MUELLER INDUSTRIES INC 0.6 %
AEROVIRONMENT INC 0.5 %
MERITAGE HOMES CORP 0.5 %
GLAUKOS CORP 0.5 %
BADGER METER INC 0.5 %
Constituent Breakdown
Number of holdings591
Herfindahl-Hirschman Index 25
Wgt avg mkt cap (mns)$3,005
Large cap (>$10bn)0.0%
Mid cap ($2-10bn)69.9%
Small cap (<$2bn)30.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 94.2 %
BERMUDA 0.9 %
CAYMAN ISLANDS 0.8 %
PUERTO RICO 0.6 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 1.5% 20.4% 5.7% 0.6% 9.9% 8.4% 8.9%
Volatility 17.5% 19.0% 21.5% 21.6% 27.1% 22.3% --
Market Correlations
versus...BetaR-squared
S&P 5001.0173%
MSCI EAFE1.0168%
MSCI Emg Mkts0.7236%
Liquidity Measures
Avg. volume (000)1,074
Turnover0.4%
Avg. Bid/Ask (% of price)0.03%
ADV of underlying (mns)$12,542
Technical Indicators
Recent close$41.31
30d moving avg.$42.00
Annualized volatility21.2%
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)

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Risk and Returns: SPSM 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 --%
0.9 13.3 1.5 2.3% --
Based on closing prices from 6/18/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

SPSM

8.1%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.1%
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 892 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.8%. SPSM's ALTAR Score™ is approximately 0.8 standard deviations above the category average. This places SPSM in the 80th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
Update
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)
SPSM 3.0 2.8 5.8
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .