SPYV Fees and Costs — State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF
Data updated: 2026-09-11
The net expense ratio is 0.04%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.0M in broker commissions, 0.0032% of average net assets, and portfolio turnover was 41%.
SPYV Fees and Expenses
Annual operating expenses and sales charges of SPYV. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.04% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.04% |
| Fee waiver | — |
| Net expense ratio | 0.04% |
| 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 |
SPYV Costs Over Time
On $10,000 invested in SPYV, assuming 5% a year before costs, total costs come to $28 over 5 years, cutting the return by 0.05% 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 0.04%) | $4 | $13 | $23 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $1 | $3 |
| Total costs | $5 | $15 | $28 |
| Value after costs | $10,495 | $11,561 | $12,735 |
| Impact on return, per year | 0.05% | 0.05% | 0.05% |
SPYV 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): 0.0032%
- Total broker commissions: $1.0M
- Bought from dealers (principal trades, not a cost): $2.0B
- Portfolio turnover (prospectus): 41%
- Securities on loan, average value: $79.0M
- Net income from securities lending: $177K (0.001% of average net assets)
SPYV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $942K | 94.70% |
| Citadel Securities LLC | $17K | 1.69% |
| BofA Securities, Inc. | $10K | 1.02% |
| J.P. Morgan Securities LLC | $7K | 0.67% |
| Fidelity Brokerage Services LLC | $5K | 0.52% |
| Barclays Capital Inc. | $4K | 0.38% |
| Piper Sandler & Co. | $3K | 0.32% |
| UBS Securities LLC | $3K | 0.26% |
| Morgan Stanley & Co. LLC | $2K | 0.23% |
| Nomura Securities International, Inc. | $2K | 0.21% |
SPYV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $2.0B | 99.87% |
| Barclays Capital Inc. | $2.3M | 0.12% |
| Citadel Securities LLC | $240K | 0.01% |
| Nomura Securities International, Inc. | $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.