Average Daily Volume
2.01M
Fund Overview
The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is an exchange-traded fund that seeks to provide investment results that correspond generally to the price and yield performance of the S&P MidCap 400 Index. This index measures the performance of mid-sized U.S. companies, offering investors exposure to a diversified portfolio of mid-cap stocks. Mid-cap companies are typically more established than small-cap firms but have greater growth potential than large-cap companies. SPMD is designed for investors seeking a cost-effective way to gain broad exposure to the mid-cap segment of the U.S. equity market. The fund is passively managed and aims to replicate the performance of its benchmark index, making it a popular choice for those looking to invest in mid-cap equities with low expenses.
- Asset Class
-
Equity
- Industry
-
N/A
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- 1.54 %
- Currency Hedged
-
No
- Portfolio Turnover
-
20 %
- Dividend Date
-
Why Invest in the SPMD ETF?
Potential Benefits
- Provides diversified exposure to mid-cap U.S. equities, which historically offer a balance of growth potential and stability.
- Low expense ratio compared to many actively managed mid-cap funds, helping to maximize net returns.
- Passively managed, reducing the risk of underperformance due to active management decisions.
- Liquidity is high due to its structure as an ETF, allowing for easy buying and selling throughout the trading day.
- Tracks the S&P MidCap 400 Index, a well-established benchmark for mid-cap stocks.
Potential Risks
- Mid-cap stocks can be more volatile than large-cap stocks, leading to greater price fluctuations.
- Sector concentration risk if the index is heavily weighted toward certain industries.
- Market risk, as mid-cap stocks are sensitive to economic downturns and changes in investor sentiment.
- Tracking error risk, where the fund's performance may not perfectly match the index due to fees and other factors.
- Limited international exposure, as the fund focuses solely on U.S. mid-cap companies.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+4.0%
|
+4.1%
|
-5.3%
|
+7.8%
|
+2.5%
|
+3.6%
|
-2.3%
|
+0.1%
|
-4.2%
|
+2.8%
|
-
|
-
|
| 2025 |
+3.7%
|
-4.2%
|
-5.5%
|
-2.4%
|
+5.5%
|
+3.6%
|
+1.6%
|
+3.4%
|
+0.5%
|
-0.5%
|
+2.1%
|
0.0%
|
| 2024 |
-1.7%
|
+5.8%
|
+5.7%
|
-6.0%
|
+4.4%
|
-1.7%
|
+5.9%
|
-0.2%
|
+1.2%
|
-0.7%
|
+9.0%
|
-7.2%
|
| 2023 |
+9.3%
|
-1.9%
|
-3.3%
|
-0.8%
|
-3.1%
|
+9.1%
|
+4.2%
|
-3.0%
|
-5.2%
|
-5.3%
|
+8.5%
|
+8.7%
|
| 2022 |
-7.2%
|
+1.1%
|
+1.4%
|
-7.1%
|
+0.8%
|
-9.7%
|
+10.9%
|
-3.1%
|
-9.2%
|
+10.5%
|
+6.2%
|
-5.6%
|
| 2021 |
+1.5%
|
+6.7%
|
+4.9%
|
+4.4%
|
+0.2%
|
-1.0%
|
+0.3%
|
+2.0%
|
-4.0%
|
+5.9%
|
-2.9%
|
+5.1%
|
| 2020 |
-2.8%
|
-9.4%
|
-20.1%
|
+13.9%
|
+7.3%
|
+1.3%
|
+4.5%
|
+3.6%
|
-3.3%
|
+2.2%
|
+14.3%
|
+6.4%
|
| 2019 |
+10.6%
|
+4.2%
|
-1.4%
|
+3.9%
|
-8.1%
|
+7.6%
|
+1.1%
|
-4.2%
|
+3.1%
|
+1.4%
|
+3.0%
|
+2.9%
|
| 2018 |
+2.7%
|
-4.2%
|
+1.3%
|
+0.1%
|
+4.8%
|
+0.6%
|
+2.1%
|
+3.8%
|
-1.8%
|
-9.8%
|
+2.7%
|
-11.6%
|
| 2017 |
+1.1%
|
+2.3%
|
-0.5%
|
+1.0%
|
-1.5%
|
+2.9%
|
+0.2%
|
-1.8%
|
+5.1%
|
+2.1%
|
+3.6%
|
-0.1%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
|
IBKR
|
INTERACTIVE BROKERS GROUP INC CLASS A |
0.7 % |
|
EME
|
EMCOR GROUP INC |
0.7 % |
|
WSO
|
WATSCO INC ORDINARY SHARES |
0.7 % |
|
CASY
|
CASEY'S GENERAL STORES INC |
0.6 % |
|
FNF
|
FIDELITY NATIONAL FINANCIAL INC |
0.6 % |
|
DOCU
|
DOCUSIGN INC |
0.6 % |
|
GWRE
|
GUIDEWIRE SOFTWARE INC |
0.6 % |
|
BURL
|
BURLINGTON STORES INC |
0.6 % |
|
SFM
|
SPROUTS FARMERS MARKET INC |
0.6 % |
|
EQH
|
EQUITABLE HOLDINGS INC |
0.6 % |
Top 10 holdings shown, out of 403 total holdings.
Related ETFs: SPMD vs Peers
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Investment Strategy
The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is designed to track the performance of the S&P MidCap 400 Index, a market-cap-weighted index that includes 400 mid-sized U.S. companies. The index methodology selects companies based on market capitalization, liquidity, and sector representation to ensure a diversified and representative sample of the mid-cap market. SPMD employs a passive management strategy, aiming to replicate the index by holding all or a representative sample of the index's constituents. The fund primarily invests in common stocks and is rebalanced quarterly to align with the index's composition. This approach minimizes turnover and helps keep costs low while providing accurate index tracking.
Frequently Asked Questions
What is the expense ratio of SPMD?
SPMD has a low expense ratio of 0.05%, making it one of the most cost-effective mid-cap ETFs available.
How often is SPMD rebalanced?
SPMD is rebalanced quarterly to align with the S&P MidCap 400 Index's composition, ensuring accurate tracking.
Does SPMD pay dividends?
Yes, SPMD pays dividends quarterly, as the underlying index includes dividend-paying mid-cap stocks.
How does SPMD compare to small-cap or large-cap ETFs?
SPMD focuses on mid-cap stocks, which typically offer a balance between the growth potential of small-caps and the stability of large-caps. It may exhibit less volatility than small-cap ETFs but more growth potential than large-cap ETFs.
Is SPMD suitable for long-term investing?
Yes, SPMD can be a good long-term investment for those seeking exposure to mid-cap stocks, which have historically delivered strong returns over extended periods.
Industry Overview
The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) provides exposure to the mid-cap segment of the U.S. equity market, which includes companies with market capitalizations typically between $2 billion and $10 billion. Mid-cap stocks are often considered a 'sweet spot' for investors, offering a balance between the growth potential of small-cap stocks and the stability of large-cap stocks. The mid-cap space is diverse, encompassing companies across various sectors such as industrials, consumer discretionary, technology, and healthcare. Investing in mid-cap ETFs like SPMD can be an effective way to diversify a portfolio and capture the growth of emerging industry leaders. The S&P MidCap 400 Index, which SPMD tracks, is a widely recognized benchmark for mid-cap performance.
Alternative Comparison
Compared to its peers, SPMD stands out for its low expense ratio, making it one of the most cost-effective options for mid-cap exposure. For example, the iShares Core S&P Mid-Cap ETF (IJH) is another popular mid-cap ETF with a similar objective, but SPMD often has a slightly lower expense ratio. Another competitor, the Vanguard Mid-Cap ETF (VO), tracks the CRSP US Mid Cap Index, which includes a broader range of companies, potentially leading to different performance outcomes. Unlike some actively managed mid-cap funds, SPMD's passive strategy ensures consistent exposure to the S&P MidCap 400 Index without the risk of manager underperformance.
Issuer Overview
SPMD is issued by State Street Global Advisors (SSGA), one of the largest and most reputable ETF providers in the world. SSGA is known for its extensive lineup of SPDR ETFs, which cover a wide range of asset classes and investment strategies. The firm is recognized for its expertise in index-based investing and its commitment to providing low-cost, transparent investment solutions. SSGA's strong track record and robust infrastructure make it a trusted issuer for investors seeking reliable ETF products.
Conclusion
The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is a compelling choice for investors seeking diversified exposure to mid-cap U.S. equities at a low cost. Its passive management strategy, tracking the well-regarded S&P MidCap 400 Index, provides a transparent and efficient way to invest in this market segment. While mid-cap stocks carry inherent volatility, SPMD's broad diversification and low fees make it a solid option for long-term investors looking to balance growth and stability in their portfolios.
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