SPEM
SPDR Portfolio Emerging Markets ETF
SPDR S&P Emerging Markets ETF objective is to replicate the performance of the S&P Emerging BMI Index. The Index measures the investable universe of publicly traded companies domiciled in emer
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
15.9 B
ASSETS UNDER MGMT
7 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 19, 2007 |
| Assets (mns) | $15,880 |
| Expense ratio | 7 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 11.0 % |
| TENCENT HOLDINGS LTD | 4.2 % |
| ALIBABA GROUP HOLDING LTD. | 3.0 % |
| HDFC BANK LIMITED | 1.1 % |
| RELIANCE INDS-SPONS GDR 144A | 1.1 % |
| HON HAI PRECISION INDUSTRY | 0.9 % |
| CHINA CONSTRUCTION BANK-H | 0.8 % |
| ICICI BANK LTD-SPON ADR | 0.8 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 0.8 % |
| MEDIATEK INC | 0.8 % |
Constituent Breakdown
| Number of holdings | 1761 |
| Herfindahl-Hirschman Index | 151 |
| Wgt avg mkt cap (mns) | $190,673 |
| Large cap (>$10bn) | 61.5% |
| Mid cap ($2-10bn) | 15.8% |
| Small cap (<$2bn) | 5.9% |
| Developed mkts. | 3.2% |
| Emerging mkts. | 85.0% |
Country Exposure
 |
CHINA | 23.7 % |
 |
TAIWAN | 22.1 % |
 |
INDIA | 15.8 % |
 |
BRAZIL | 3.7 % |
 |
SAUDI ARABIA | 3.1 % |
 |
SOUTH AFRICA | 2.9 % |
 |
HONG KONG | 1.9 % |
 |
MEXICO | 1.9 % |
 |
MALAYSIA | 1.6 % |
 |
UAE | 1.5 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 22.0% | 22.0% | 15.0% | 12.4% | 2.1% | 6.0% | -- | 2.6% |
| Dividend Yield | 3.6% | 3.6% | 3.3% | 3.3% | 3.1% | 2.7% | -- | 2.5% |
| Total Returns | 25.6% | 25.6% | 18.3% | 15.7% | 5.2% | 8.7% | -- | 5.2% | Ann. Volatility | 16.5% | 16.5% | 15.6% | 15.1% | 17.0% | 18.9% | -- | 24.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.63 | 56% |
| MSCI EAFE | 0.81 | 65% |
| MSCI Emg Mkts | 0.93 | 98% |
Liquidity Measures
| Avg. volume (000) | 2,832 |
| ADV traded (mns) | $137 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.02% |
Technical Indicators
| 30d moving avg. (EMA) | $46.94 |
| Relative strength (RSI) | 62 |
| MACD/Signal | 0.52/0.35 |
| Bollinger Bands (Upper/Lower) | $48.67/$45.09 |
| Short interest (% of AUM) | 2.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SPEM |
Expenses vs. SPEM |
ALTAR Score™ vs. SPEM |
|---|---|---|---|---|
| VWO | Vanguard FTSE Emerging Markets ETF | 64.8% | 0 bp | +9.7% |
| EEM | iShares MSCI Emerging Markets ETF | 62.0% | +62 bp | +9.2% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 61.5% | +59 bp | +8.7% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 60.8% | +23 bp | +9.5% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 60.5% | +8 bp | +9.4% |
| SCHE | Schwab Emerging Markets Equity ETF | 60.0% | +4 bp | +10.5% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 60.0% | +2 bp | +9.5% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 59.8% | +4 bp | +9.2% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 58.7% | +29 bp | +9.0% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 57.5% | +28 bp | +8.4% |
Risk and Returns: SPEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 1/11/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
SPEM
10.3%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 136 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
2.5%. SPEM's ALTAR Score™ is approximately
1.0 standard deviations
above
the category average. This places SPEM in the 85th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPEMSELL
U/W
HOLD
O/W
BUY