SPEM — State Street SPDR Portfolio Emerging Markets ETF

SPEM Price Performance — Growth of $10,000

Value of a $10,000 investment in SPEM over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SPEM Drawdown

The "underwater" chart: SPEM's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

State Street Investment Management issues the SPDR Portfolio Emerging Markets ETF, an emerging markets fund with $17.5 billion in assets under management. It holds a B grade and ranks 8 of 10 within its category, placing it in the lower tier of similar funds. The expense ratio of 0.07% is significantly below the category median of 0.29%, offering a cost advantage to investors. With a dividend yield of 2.49%, the fund provides slightly higher income than the category median of 2.34%. The top 10 holdings comprise 27.1% of assets, with Taiwan Semiconductor Manufacturing Co Ltd representing the largest single position at 14.7%.

The fund’s price of $52.20 sits at 83.8% of its 52-week range, indicating it has appreciated significantly from its lows. Short-term performance shows a divergence, with a 1-day decline of 1.23% contrasting against a 1-week gain of 0.85%. Over longer horizons, the fund has delivered a 1-year return of 12.90%, which trails the category median of 23.41%. However, the 3-year return of 69.04% demonstrates substantial cumulative growth over that period. The ETFValuer grade was upgraded from C to B on 2026-08-28, reflecting this improved standing. Historical data is available for only 3.0 years, limiting the depth of the long-term record.

With a beta of 0.85, the fund has exhibited less volatility relative to the broader market compared to its peers. Annualized volatility stands at 18.06%, which is classified as moderate, while the maximum drawdown has reached -17.62%. The Sharpe ratio of 0.44 suggests that risk-adjusted returns have been modest relative to the volatility experienced. Liquidity is supported by an average daily volume of 1,667,042 shares, facilitating ease of trading. These metrics collectively describe a fund that has managed downside risk moderately well while maintaining reasonable market access.

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

SPEM Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 27.1% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SPEM's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SPEM

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPEM's top 10 — SCHE overlaps most, holding 8 of the same companies as SPEM's top 10 (24.7% of SPEM's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 5.27% (as of 2026-10-06) — 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): 15.01 (as of 2026-10-06) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 121.38 (as of 2026-10-02) — 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 Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 1.7M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $17.5B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SPEM is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SPEM Performance History

How SPEM Compares to Other Emerging Markets ETFs