Is SPMD a good investment?

State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is a US mid-cap ETF. As of September 11, 2026, ETF Copilot scores SPMD 4.4 out of 10 — highest on Growth (6.1), lowest on Quality (1.9). It trades at 20.2 times earnings, against its own median of 18.8. Its ten largest holdings are 8% of the fund.

Updated September 11, 2026

How is SPMD rated? ETF Copilot scores State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) 4.4 out of 10

As of September 11, 2026, ETF Copilot scores State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) 4.4 out of 10 overall.

ETF Copilot scores (0–10 scale, higher is better):

Overall: 4.4 / 10
Growth: 6.1 / 10
Valuation: 5.3 / 10
Risk: 3.5 / 10
Quality: 1.9 / 10
Return: 4.4 / 10

What is SPMD's expense ratio? 0.03% a year

As of September 11, 2026, SPMD charges 0.03% a year, yields 1.28% and holds $18.6B in assets across 399 positions.

State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) — cost, income and size
Measure	SPMD
Expense ratio	0.03%
Dividend yield	1.28%
Assets under management	$18.6B
Holdings	399

Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.

What stands out in SPMD's data

U.S. mid-cap equities, weighted by market size.

Trades at a price similar to the category average — but its own history shows it has rarely been this expensive.

Trailing EBITDA multiple of 14.2x matches the category median, yet sits above its own five-year median of 12.4x. The fund charges 0.03% annually.

A core mid-cap building block that rounds out a U.S. equity allocation.

Why did SPMD move this week? It fell 1.7% in the week to September 11, 2026 — Guidewire Software and Illumina drove it

SPMD fell 1.7% in the week to September 11, 2026. The holdings that moved it most were Guidewire Software (−30.5%), Illumina (−6.9%) and Twilio (−5.5%); Semtech (+23.5%) pushed the other way.

Is SPMD expensive right now? It trades at 20.2 times earnings, against its own median of 18.8

As of September 11, 2026, SPMD is more expensive than 68% of its own 114 monthly readings since 2017 — 78 of those months were cheaper than today.

Trailing twelve-month, computed by ETF Copilot from the fund's holdings rather than quoted from a data provider, and rebuilt nightly.

What's inside SPMD? 16% Tech

What's inside SPMD: Size (Large 2%, Mid 90%, Small 9%); Geography (International 5%, US 95%); Tech 16.0%; AI 0.4%; Semiconductors 3.9%; Memory 1.2%.

What are SPMD's top holdings? The ten largest are 8% of the fund

Twilio, Illumina, Technipfmc, Everpure, Okta, Allegheny Technologies, Nvent Electric, Tenet Healthcare, Carpenter Technology and XPO are SPMD's largest holdings, in that order.

Less concentrated than 76% of US Mid Cap ETFs.

Half of SPMD's weight sits in its 113 largest positions, and once those weights are taken into account it behaves like 291 equally weighted holdings.

Cite this

ETF Copilot, “State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) scores and holdings analysis”, as of September 11, 2026.
https://etf-copilot.com/etf/spmd