SPEM — State Street SPDR Portfolio Emerging Markets ETF

Overview

The State Street SPDR Portfolio Emerging Markets ETF (SPEM) is an Emerging Markets fund managed by State Street Investment Management with $17.3 billion in assets under management. Trading at a price of $51.29, the fund carries an expense ratio of 0.07% and offers a dividend yield of 2.53%. ETFValuer ranks this fund #47 out of 120 tracked ETFs across all categories, assigning it an overall grade of B with a score of 67.5/100. Within the specific Emerging Markets category, which contains 4 ETFs tracked by the site, SPEM holds the lowest rank among its peers. The substantial asset size and low cost structure suggest significant investor adoption relative to the limited number of funds in its specific sector. Its position as the fourth-ranked fund in a four-fund category indicates it is the least favored by the site's ranking methodology compared to IEMG and EEM. The combination of a B grade and a 0.07% fee reflects a moderate assessment of its overall quality and cost efficiency.

Over the last day, the fund posted a return of +0.55%, followed by a weekly decline of -0.95%. Monthly performance showed a recovery with a +2.52% gain, while the three-month horizon accelerated significantly to +10.27%. The six-month return stood at +7.59%, and year-to-date gains reached +8.40%. Annual returns were notably strong at +23.44%, extending to a three-year total of +56.53%. This pattern indicates a divergence where short-term fluctuations occurred before a sustained upward trend emerged over the longer horizons. The fund's performance trajectory shows a clear acceleration from the weekly decline into the robust multi-year gains.

The fund is assigned a Moderate volatility label and exhibits a beta of 0.86, suggesting it moves less than the broader market. A Sharpe ratio of 1.08 indicates that the returns generated have been efficient relative to the risk taken during the measurement period. However, the maximum drawdown of -17.62% highlights the potential for significant temporary losses during market downturns. This combination of a beta below 1.0 and a moderate volatility rating implies the fund may offer some cushion during market declines compared to more aggressive peers. The high Sharpe ratio alongside the substantial three-year return suggests that despite the -17.62% drawdown, the fund has delivered strong risk-adjusted performance over time. Investors should note that while the beta indicates lower sensitivity to market swings, the maximum drawdown figure confirms that downside risk remains a factor in the Emerging Markets sector.

AI-generated summary based on the data on this page.

SPEM Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.13 (as of 2026-07-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 120.69 (as of 2026-07-02) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

SPEM Performance History

How SPEM Compares to Other Emerging Markets ETFs