SPSM Fees and Costs — State Street(R) SPDR(R) Portfolio S&P 600(TM) Small 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 $874K in broker commissions, 0.0064% of average net assets, and portfolio turnover was 21%.
SPSM Fees and Expenses
Annual operating expenses and sales charges of SPSM. 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 |
SPSM Costs Over Time
On $10,000 invested in SPSM, assuming 5% a year before costs, total costs come to $23 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) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $1 | $2 |
| Total costs | $4 | $13 | $23 |
| Value after costs | $10,496 | $11,564 | $12,740 |
| Impact on return, per year | 0.04% | 0.04% | 0.04% |
SPSM 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): 0.0064%
- Total broker commissions: $874K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 21%
- Securities on loan, average value: $1.1B
- Net income from securities lending: $3.1M (0.023% of average net assets)
SPSM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $340K | 39.11% |
| BofA Securities, Inc. | $313K | 35.99% |
| Barclays Capital Inc. | $88K | 10.13% |
| Morgan Stanley & Co. LLC | $44K | 5.05% |
| Citigroup Global Markets Inc. | $28K | 3.26% |
| Piper Sandler & Co. | $20K | 2.30% |
| UBS Securities LLC | $15K | 1.73% |
| Citadel Securities LLC | $9K | 1.00% |
| Goldman Sachs & Co. LLC | $8K | 0.86% |
| Virtu Americas LLC | $5K | 0.56% |
SPSM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.3B | 99.07% |
| BofA Securities, Inc. | $5.5M | 0.41% |
| J.P. Morgan Securities LLC | $3.7M | 0.28% |
| Barclays Capital Inc. | $3.1M | 0.23% |
| Virtu Americas LLC | $217 | 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.