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The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) track the S&P 400 MidCap Index, which offers broad exposure to mid-sized U.S. companies. SPMD is one of several that offer exposure to an asset class that can make up a significant portion of long-term, buy-and-hold portfolios. This ETF may be more appealing to those in the portfolio construction business as opposed to short-term traders. SPMD offers exposure to a balanced portfolio of about 400 individual stocks. As with all of State Street’s SPDR “Portfolio” lineup, SPMD competes — and even beats — the management fee of ultra-low-cost rivals like Vanguard Mid-Cap ETF (VO), Schwab U.S. Mid-Cap ETF (SCHM) and iShares Core S&P Mid-Cap ETF (IJH). All four funds offer broadly similar allocation to sectors and company size. SPMD is a relative latecomer and lags these three rivals in assets but still offers good liquidity.
Tactical traders might prefer SPMD’s older and larger sister fund: the SPDR Midcap 400 ETF Trust (MDY). MDY is one of the oldest ETFs on the market and tracks the same index as SPMD, but costs much more. Why? A number of State Street’s older funds, like MDY, were structured as UITs, and therefore lack the flexibility to lend out securities and reinvest dividends. Some of them are also burdened by costly legacy royalty contracts. MDY’s higher fee won’t deter short-term traders, who are more concerned with liquidity than fees, but for buy-and-old investors we’d recommend SPMD (or one of its low-cost rivals).
State Street launched its ultra-low-cost SPDR Portfolio lineup in October 2017 after years of losing market share to cheaper rivals at BlackRock, Schwab, and Vanguard. This was a humiliating setback since State Street pretty much founded the modern ETF market in 1993 with the launch of the SPDR S&P 500 ETF Trust (SPY). State Street was late to to the ultra-low-cost space — BlackRock launched its low-cost iShares Core series five years earlier — but has pushed hard to make up ground. Many of its “Portfolio” funds, including SPMD, were renamed and repriced for this purpose. Prior to October 2017, SPMD tracked the Russell 1000 index and traded under the ticker SMD. Prior to January 24, 2020, it tracked the S&P 1000 Index.
Historical Trading Data
1 Month Avg. Volume824,748
3 Month Avg. Volume853,568
Alternative ETFs in the Mid Cap Blend Equities Category
5 Day Net Flows:
-63.81 M
1 Month Net Flows:
43.08 M
3 Month Net Flows:
119.09 M
6 Month Net Flows:
615.07 M
1 Year Net Flows:
700.82 M
3 Year Net Flows:
2.2 B
5 Year Net Flows:
2.2 B
10 Year Net Flows:
2.2 B
Realtime Rating
The adjacent table gives investors an individual Realtime Rating for SPMD on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Mid Cap Blend Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.
Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.
Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use, please see disclaimer.
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