XBI Fees and Costs — State Street(R) SPDR(R) S&P(R) Biotech ETF
Data updated: 2026-09-11
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.3M in broker commissions, 0.0182% of average net assets, and portfolio turnover was 74%.
XBI Fees and Expenses
Annual operating expenses and sales charges of XBI. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| 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 |
XBI Costs Over Time
On $10,000 invested in XBI, assuming 5% a year before costs, total costs come to $233 over 5 years, cutting the return by 0.39% 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 0.35%) | $37 | $115 | $202 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $39 | $127 | $233 |
| Value after costs | $10,461 | $11,449 | $12,530 |
| Impact on return, per year | 0.39% | 0.39% | 0.39% |
XBI 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): 0.0182%
- Total broker commissions: $1.3M
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 74%
- Securities on loan, average value: $1.2B
- Net income from securities lending: $10.0M (0.137% of average net assets)
XBI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $635K | 48.15% |
| Citigroup Global Markets Inc. | $545K | 41.30% |
| BofA Securities, Inc. | $70K | 5.29% |
| Barclays Capital Inc. | $45K | 3.38% |
| Cowen and Company, LLC | $10K | 0.72% |
| Nomura Securities International, Inc. | $4K | 0.31% |
| Piper Sandler & Co. | $4K | 0.29% |
| Fidelity Brokerage Services LLC | $3K | 0.23% |
| Virtu Americas LLC | $3K | 0.19% |
| Morgan Stanley & Co. LLC | $2K | 0.13% |
XBI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $958.4M | 98.67% |
| Goldman Sachs & Co. LLC | $8.6M | 0.88% |
| Citigroup Global Markets Inc. | $4.2M | 0.44% |
| BofA Securities, Inc. | $74K | 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.