SPMD Fees and Costs — State Street(R) SPDR(R) Portfolio S&P 400(TM) Mid Cap ETF
Data updated: 2026-09-11
The net expense ratio is 0.03%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $605K in broker commissions, 0.0039% of average net assets, and portfolio turnover was 23%.
SPMD Fees and Expenses
Annual operating expenses and sales charges of SPMD. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.03% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.03% |
| Fee waiver | — |
| Net expense ratio | 0.03% |
| 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 |
SPMD Costs Over Time
On $10,000 invested in SPMD, assuming 5% a year before costs, total costs come to $22 over 5 years, cutting the return by 0.04% 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 0.03%) | $3 | $10 | $17 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $1 | $2 |
| Total costs | $4 | $12 | $22 |
| Value after costs | $10,496 | $11,564 | $12,741 |
| Impact on return, per year | 0.04% | 0.04% | 0.04% |
SPMD 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): 0.0039%
- Total broker commissions: $605K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $1.6B
- Net income from securities lending: $2.8M (0.018% of average net assets)
SPMD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $186K | 30.86% |
| Citadel Securities LLC | $183K | 30.39% |
| Citigroup Global Markets Inc. | $82K | 13.69% |
| UBS Securities LLC | $80K | 13.36% |
| Barclays Capital Inc. | $26K | 4.35% |
| Morgan Stanley & Co. LLC | $15K | 2.53% |
| Piper Sandler & Co. | $11K | 1.89% |
| BofA Securities, Inc. | $11K | 1.75% |
| Virtu Americas LLC | $5K | 0.89% |
| Goldman Sachs & Co. LLC | $2K | 0.28% |
SPMD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.0B | 91.88% |
| Citigroup Global Markets Inc. | $82.9M | 7.42% |
| UBS Securities LLC | $4.6M | 0.41% |
| BofA Securities, Inc. | $2.3M | 0.21% |
| Virtu Americas LLC | $265K | 0.02% |
| Sanford C. Bernstein & Co., LLC | $183K | 0.02% |
| Nomura Securities International, Inc. | $120K | 0.01% |
| Morgan Stanley & Co. LLC | $108K | 0.01% |
| Bestex Research Securities, LLC | $104K | 0.01% |
| J.P. Morgan Securities LLC | $81K | 0.01% |
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.