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.
| Segment | Equity: U.S. - Mid Cap |
| Category | Size and Style |
| Focus | Mid Cap |
| Niche | Broad-based |
| Strategy | Vanilla |
| Weighting Scheme | Market Cap |
This section compares how balanced and deep this ETF is relative to its peers.
| SPMD | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Number of Holdings | 404 | 279 | 324 |
| % of Assets in Top 10 | 6.10% | 17.77% | 12.80% |
| % of Assets in Top 15 | 8.74% | 24.27% | 17.98% |
| % of Assets in Top 50 | 23.95% | 52.52% | 43.83% |
| SPMD | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Large (>12.9B) | 2.60% | 29.45% | 23.41% |
| Mid (>2.7B) | 93.68% | 58.35% | 70.40% |
| Small (>600M) | 3.57% | 5.53% | 3.10% |
| Micro (<600M) | 0.00% | 1.58% | 0.05% |
This section compares the P/E ratio of this ETF to its peers.
This section compares the dividend yield of this ETF to its peers.
| SPMD | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Dividend | $ 0.17 | $ 0.36 | $ 0.36 |
| Dividend Date | 2022-12-19 | N/A | N/A |
| Annual Dividend Rate | $ 0.70 | $ 0.77 | $ 1.08 |
| Annual Dividend Yield | 1.58% | 1.82% | 1.41% |
View charts featuring SPMD price and volume data.
View charts featuring ETF fund flow data.
5 Day Net Flows: -83.32 M 1 Month Net Flows: 36.26 M 3 Month Net Flows: 370.64 M 6 Month Net Flows: 653.42 M 1 Year Net Flows: 1.01 B 3 Year Net Flows: 3.38 B 5 Year Net Flows: 4.45 B 10 Year Net Flows: 4.88 BView charts that break down the influence that fund flows and price had on overall assets.
5 Day Net AUM Change: -174.14 MThe 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 ETF Database 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 ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.
This section compares the cost efficiency of this ETF to its peers.
| Max ST Capital Gains Rate | 39.60% |
| Max LT Capital Gains Rate | 20.00% |
| Tax On Distributions | Qualified dividends |
| Distributes K1 | No |
This section shows how this ETF has performed relative to its peers.
| SPMD |
ETF Database
Category Average |
Factset Segment
Average |
|
|---|---|---|---|
| 1 Month Return | -5.07% | -3.98% | -4.26% |
| 3 Month Return | 1.58% | 0.81% | 1.05% |
| YTD Return | 2.04% | 1.56% | 1.67% |
| 1 Year Return | -8.10% | -8.44% | -7.53% |
| 3 Year Return | 81.50% | 44.76% | 46.88% |
| 5 Year Return | 41.23% | 21.35% | 25.01% |
The following charts reflect the geographic spread of SPMD's underlying holdings.
| Region | Percentage |
|---|---|
| North, Central and South America | 100.05% |
| Country | Percentage |
|---|---|
| United States | 96.53% |
| Bermuda | 1.27% |
| United Kingdom | 0.88% |
| Ireland | 0.64% |
| Other | 0.4% |
| Sweden | 0.33% |
| Canada | 0.0% |
The following charts reflect the allocation of SPMD's underlying holdings.
| Sector | Percentage |
|---|---|
| Finance | 22.6% |
| Producer Manufacturing | 11.64% |
| Electronic Technology | 7.65% |
| Health Technology | 6.38% |
| Retail Trade | 5.71% |
| Consumer Services | 5.7% |
| Technology Services | 4.78% |
| Consumer Non-Durables | 4.26% |
| Process Industries | 3.89% |
| Industrial Services | 3.86% |
| Utilities | 3.64% |
| Non-Energy Minerals | 3.53% |
| Commercial Services | 3.11% |
| Consumer Durables | 3.02% |
| Energy Minerals | 2.79% |
| Transportation | 2.77% |
| Distribution Services | 1.97% |
| Health Services | 1.74% |
| Communications | 0.61% |
| Miscellaneous | 0.4% |
| Market Cap | Percentage |
|---|---|
| Mid | 93.68% |
| Small | 3.57% |
| Large | 2.6% |
| Micro | 0.0% |
| Region | Percentage |
|---|
| Asset | Percentage |
|---|---|
| Share/Common/Ordinary | 99.65% |
| Open-ended Fund | 0.4% |
| Sector | Percentage |
|---|---|
| Finance | 22.6% |
| Producer Manufacturing | 11.64% |
| Electronic Technology | 7.65% |
| Health Technology | 6.38% |
| Retail Trade | 5.71% |
| Consumer Services | 5.7% |
| Technology Services | 4.78% |
| Consumer Non-Durables | 4.26% |
| Process Industries | 3.89% |
| Industrial Services | 3.86% |
| Utilities | 3.64% |
| Non-Energy Minerals | 3.53% |
| Commercial Services | 3.11% |
| Consumer Durables | 3.02% |
| Energy Minerals | 2.79% |
| Transportation | 2.77% |
| Distribution Services | 1.97% |
| Health Services | 1.74% |
| Communications | 0.61% |
| Miscellaneous | 0.4% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
| 5 Day Volatility | 206.02% |
| 20 Day Volatility | 25.76% |
| 50 Day Volatility | 20.90% |
| 200 Day Volatility | 21.94% |
| Beta | 1.12 |
| Standard Deviation | 2.22% |
ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.
Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.
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