Is SPSM a good investment?

State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is a US small-cap ETF. As of September 11, 2026, ETF Copilot scores SPSM 4.3 out of 10 — highest on Valuation (6.6), lowest on Quality (1.4). It trades at 17.5 times earnings, against its own median of 16.7. Its ten largest holdings are 6% of the fund.

Updated September 11, 2026

How is SPSM rated? ETF Copilot scores State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) 4.3 out of 10

As of September 11, 2026, ETF Copilot scores State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) 4.3 out of 10 overall.

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

Overall: 4.3 / 10
Growth: 5.4 / 10
Valuation: 6.6 / 10
Risk: 3.9 / 10
Quality: 1.4 / 10
Return: 4.1 / 10

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

As of September 11, 2026, SPSM charges 0.03% a year, yields 1.66% and holds $16.4B in assets across 597 positions.

State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) — cost, income and size
Measure	SPSM
Expense ratio	0.03%
Dividend yield	1.66%
Assets under management	$16.4B
Holdings	597

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 SPSM's data

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

Profitability runs above the typical small-cap fund — the companies here earn more on each dollar of sales.

EBITDA margin of 20.6% sits above the peer median of 19.6% and the fund's own five-year average of 18.6%. It charges 0.03% a year.

A broad small-cap core that pairs with larger holdings for full market coverage.

Why did SPSM move this week? It fell 1.8% in the week to September 11, 2026 — Paycom Software and Etsy drove it

SPSM fell 1.8% in the week to September 11, 2026. The holdings that moved it most were Paycom Software (−9.0%), Etsy (−11.3%) and Glaukos (−7.3%); Formfactor (+18.8%) pushed the other way.

Is SPSM expensive right now? It trades at 17.5 times earnings, against its own median of 16.7

As of September 11, 2026, SPSM is more expensive than 69% of its own 108 monthly readings since 2017 — 74 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 SPSM? 15% Tech

What's inside SPSM: Size (Large 0%, Mid 35%, Small 65%); Geography (International 3%, US 97%); Tech 14.8%; AI 0.4%; Semiconductors 3.5%; Memory 1.3%.

What are SPSM's top holdings? The ten largest are 6% of the fund

Corcept Therapeutics, Viasat, Glaukos, Match, Jackson Financial, Brinker International, Qorvo, Paycom Software, Protagonist Therapeutics and Formfactor are SPSM's largest holdings, in that order.

Less concentrated than 53% of US Small Cap ETFs.

Half of SPSM's weight sits in its 160 largest positions, and once those weights are taken into account it behaves like 420 equally weighted holdings.

Cite this

ETF Copilot, “State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) scores and holdings analysis”, as of September 11, 2026.
https://etf-copilot.com/etf/spsm