SMLV Fees and Costs — State Street(R) SPDR(R) US Small Cap Low Volatility Index ETF
Data updated: 2026-09-11
The net expense ratio is 0.12%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $68K in broker commissions, 0.0313% of average net assets, and portfolio turnover was 48%.
SMLV Fees and Expenses
Annual operating expenses and sales charges of SMLV. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.12% |
| Fee waiver | — |
| Net expense ratio | 0.12% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SMLV Costs Over Time
On $10,000 invested in SMLV, assuming 5% a year before costs, total costs come to $96 over 5 years, cutting the return by 0.16% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.12%) | $13 | $40 | $69 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $96 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
SMLV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0313%
- Total broker commissions: $68K
- Bought from dealers (principal trades, not a cost): $33.8M
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $31.4M
- Net income from securities lending: $90K (0.041% of average net assets)
SMLV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $64K | 93.86% |
| Morgan Stanley & Co. LLC | $2K | 2.85% |
| Fidelity Brokerage Services LLC | $546 | 0.81% |
| Citadel Securities LLC | $481 | 0.71% |
| BofA Securities, Inc. | $366 | 0.54% |
| Nomura Securities International, Inc. | $253 | 0.37% |
| Cabrera Capital Markets LLC | $201 | 0.30% |
| Barclays Capital Inc. | $182 | 0.27% |
| Bestex Research Securities, LLC | $110 | 0.16% |
| The Williams Capital Group, L.P. | $93 | 0.14% |
SMLV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $33.8M | 99.97% |
| BofA Securities, Inc. | $10K | 0.03% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.