SPEM Fees and Costs — SPDR Portfolio Emerging Markets ETF
Data updated: 2026-08-28
The net expense ratio is 0.07%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.0109% of average net assets, and portfolio turnover was 4%.
SPEM Fees and Expenses
Annual operating expenses and sales charges of SPEM. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.07% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.07% |
| Fee waiver | — |
| Net expense ratio | 0.07% |
| 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 |
SPEM Costs Over Time
On $10,000 invested in SPEM, assuming 5% a year before costs, total costs come to $52 over 5 years, cutting the return by 0.08% 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 0.07%) | $7 | $23 | $41 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $8 | $28 | $52 |
| Value after costs | $10,492 | $11,548 | $12,711 |
| Impact on return, per year | 0.08% | 0.08% | 0.08% |
SPEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0109%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 4%
- Securities on loan, average value: $778.0M
- Net income from securities lending: $10.6M (0.095% of average net assets)
SPEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $419K | 39.00% |
| Goldman Sachs & Co. LLC | $169K | 15.75% |
| UBS Securities LLC | $112K | 10.40% |
| Jefferies LLC | $92K | 8.57% |
| J.P. Morgan Securities LLC | $77K | 7.18% |
| HSBC Securities (USA) Inc. | $71K | 6.63% |
| Morgan Stanley & Co. LLC | $38K | 3.58% |
| Nomura Securities International, Inc. | $33K | 3.09% |
| CLSA Americas, LLC | $32K | 2.96% |
| Macquarie Capital (USA) Inc. | $30K | 2.84% |
SPEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $2.3B | 99.99% |
| Morgan Stanley & Co. LLC | $171K | 0.01% |
| UBS Securities LLC | $50K | 0.00% |
| BofA Securities, Inc. | $14K | 0.00% |
| BNP Paribas Securities Corp. | $1K | 0.00% |
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.