SPMD — State Street SPDR Portfolio S&P 400 Mid Cap ETF
US Mid Cap Ranked #186 of 458 tracked ETFs · Issued by State Street Investment Management
SPMD Price Performance — Growth of $10,000
Value of a $10,000 investment in SPMD 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.
SPMD Drawdown
The "underwater" chart: SPMD'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.
What If You'd Invested in SPMD?
See what a lump sum in SPMD would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is a US Mid Cap fund managed by State Street Investment Management. With $18.4 billion in assets under management, the fund trades at a price of $66.11 and carries an expense ratio of 0.03%. It offers a dividend yield of 1.20% and holds an overall rank of #186 out of 458 tracked ETFs across all categories. The fund has received an ETFValuer grade of C, reflecting a score of 63.8 out of 100. Within the US Mid Cap category, which contains 14 ETFs tracked by ETFValuer, SPMD represents a significant portion of the sector's total assets. The substantial AUM and low cost structure suggest broad investor adoption relative to the category size.
Over the last trading day, the fund declined by 0.33%, following a weekly drop of 0.74%. However, the one-month return turned positive at +0.21%, and the three-month gain accelerated to +4.11%. This upward momentum continued into the six-month period with a return of +7.82%, while year-to-date performance reached +13.35%. The one-year return stands at +19.70%, and the three-year total return is +45.08%. The data indicates a pattern where short-term volatility was followed by sustained growth over longer horizons.
The fund carries a Moderate volatility label and a Beta of 1.00, indicating that its price movements generally align with the broader market. A Sharpe ratio of 0.93 suggests the fund has generated a reasonable return relative to the risk taken over the measured period. Despite the positive risk-adjusted returns, the fund experienced a maximum drawdown of -24.08% during its history. This combination of figures implies that while the fund tracks market movements closely, it has been subject to significant declines during market downturns. The Moderate volatility classification aligns with the observed Beta and drawdown figures.
AI-generated summary based on the data on this page.
SPMD Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | State Street Global Advisors | 2.37% | $370M |
| 2 | TechnipFMC PLC | 0.87% | $137M |
| 3 | Casey's General Stores Inc | 0.84% | $132M |
| 4 | United Therapeutics Corp | 0.80% | $125M |
| 5 | Curtiss-Wright Corp | 0.79% | $123M |
| 6 | Flex Ltd | 0.75% | $118M |
| 7 | XPO Inc | 0.71% | $111M |
| 8 | Woodward Inc | 0.67% | $104M |
| 9 | Royal Gold Inc | 0.64% | $101M |
| 10 | US Foods Holding Corp | 0.64% | $99M |
Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 9.1% 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 SPMD's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With SPMD
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPMD's top 10 — MDYG overlaps most, holding 9 of the same companies as SPMD's top 10 (8.4% of SPMD's assets).
| ETF | Name | Shared Companies | SPMD Weight | Examples |
|---|---|---|---|---|
| MDYG | State Street SPDR S&P 400 Mid Cap Growth ETF | 9 | 8.4% | State Street Global Advisors, TechnipFMC PLC, Casey's General Stores Inc… |
| IJH | iShares Core S&P Mid-Cap ETF | 9 | 6.7% | TechnipFMC PLC, Casey's General Stores Inc, United Therapeutics Corp… |
| VBK | Vanguard Small-Cap Growth Index Fund ETF Shares | 3 | 2.5% | TechnipFMC PLC, Casey's General Stores Inc, Curtiss-Wright Corp |
| VBR | Vanguard Small-Cap Value Index Fund ETF Shares | 3 | 2.2% | United Therapeutics Corp, Flex Ltd, US Foods Holding Corp |
| XRT | State Street SPDR S&P Retail ETF | 2 | 3.2% | State Street Global Advisors, Casey's General Stores Inc |
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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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.
What SPMD's Fees Cost You
SPMD charges an expense ratio of 0.03% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
SPMD Dividend Income Estimator
SPMD currently yields 1.20%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
SPMD Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 4.88% and average daily volume is 1.6M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $18.4B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: SPMD 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.
SPMD Performance History
| Period | Return |
|---|---|
| 1-Day | -0.33% |
| 1-Week | -0.74% |
| 1-Month | +0.21% |
| 3-Month | +4.11% |
| 6-Month | +7.82% |
| YTD | +13.35% |
| 1-Year | +19.70% |
| 3-Year | +45.08% |
How SPMD Compares to Other US Mid Cap ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #31 | B+ |
VOE | Vanguard Mid-Cap Value Index Fund ETF Shares | +22.10% | 0.05% | $37.2B |
| #103 | B |
IWS | iShares Russell Mid-Cap Value ETF | +22.53% | 0.23% | $15.6B |
| #130 | B |
SCHM | Schwab U.S. Mid-Cap ETF | +23.46% | 0.03% | $15.3B |
| #160 | B |
IJH | iShares Core S&P Mid-Cap ETF | +19.66% | 0.05% | $124B |
| #163 | B |
VO | Vanguard Mid-Cap Index Fund ETF Shares | +14.00% | 0.03% | $224B |
| #184 | C |
IWR | iShares Russell Mid-Cap ETF | +16.66% | 0.18% | $57.0B |
| #186 | C |
SPMD | State Street SPDR Portfolio S&P 400 Mid Cap ETF | +19.70% | 0.03% | $18.4B |
| #202 | C |
IJK | iShares S&P Mid-Cap 400 Growth ETF | +22.40% | 0.17% | $11.3B |
| #207 | C |
MDY | State Street SPDR S&P MIDCAP 400 ETF Trust | +19.28% | 0.23% | $28.1B |
| #229 | C |
MDYG | State Street SPDR S&P 400 Mid Cap Growth ETF | +22.38% | 0.15% | $2.92B |
| #266 | C |
IJJ | iShares S&P Mid-Cap 400 Value ETF | +16.59% | 0.18% | $8.73B |
| #297 | C |
MDYV | State Street SPDR S&P 400 Mid Cap Value ETF | +16.68% | 0.15% | $2.68B |
| #363 | C |
VOT | Vanguard Mid-Cap Growth Index Fund ETF Shares | +3.15% | 0.05% | $34.8B |
| #397 | D |
IWP | iShares Russell Mid-Cap Growth ETF | -0.79% | 0.23% | $21.6B |