SPGM
SPDR Portfolio MSCI Global Stock Market ETF
The SPDR Portfolio MSCI Global Stock Market ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index.
Global
EQUITY
Passive
MANAGEMENT STYLE
875.2 M
ASSETS UNDER MGMT
9 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 28, 2012 |
| Assets (mns) | $875 |
| Expense ratio | 9 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 +
| NVIDIA CORP | 4.0 % |
| APPLE INC | 3.8 % |
| MICROSOFT CORP | 3.4 % |
| AMAZON.COM INC | 2.1 % |
| META PLATFORMS INC | 1.4 % |
| ALPHABET INC. CLASS A | 1.1 % |
| ALPHABET INC. CLASS C | 1.1 % |
| TESLA MOTORS INC | 1.0 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 1.0 % |
| JPMORGAN CHASE & CO | 1.0 % |
Constituent Breakdown
| Number of holdings | 2263 |
| Herfindahl-Hirschman Index | 69 |
| Wgt avg mkt cap (mns) | $527,156 |
| Large cap (>$10bn) | 89.4% |
| Mid cap ($2-10bn) | 5.9% |
| Small cap (<$2bn) | 4.4% |
| Developed mkts. | 91.1% |
| Emerging mkts. | 8.9% |
Country Exposure
 |
UNITED STATES | 61.9 % |
 |
JAPAN | 5.2 % |
 |
BRITAIN | 3.6 % |
 |
CANADA | 2.5 % |
 |
SWITZERLAND | 2.3 % |
 |
CHINA | 2.1 % |
 |
FRANCE | 2.0 % |
 |
TAIWAN | 1.8 % |
 |
INDIA | 1.8 % |
 |
GERMANY | 1.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.1% | 28.2% | 18.5% | 4.4% | 10.7% | 9.0% | 9.7% | Volatility | 12.1% | 12.0% | 13.4% | 16.5% | 20.0% | 18.0% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 97% |
| MSCI EAFE | 0.89 | 89% |
| MSCI Emg Mkts | 0.75 | 61% |
Liquidity Measures
| Avg. volume (000) | 76 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $399,947 |
Technical Indicators
| Recent close | $63.88 |
| 30d moving avg. | $64.50 |
| Annualized volatility | 16.7% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
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. SPGM |
Expenses vs. SPGM |
ALTAR Score™ vs. SPGM |
|---|---|---|---|---|
| ACWI | iShares MSCI ACWI ETF | 68.8% | +23 bp | -0.1% |
| URTH | iShares MSCI World ETF | 68.3% | +15 bp | -0.2% |
| TOK | iShares MSCI Kokusai ETF | 66.4% | +17 bp | -0.3% |
| VT | Vanguard Total World Stock ETF | 66.0% | -2 bp | +0.2% |
| KLMT | Invesco MSCI Global Climate 500 ETF | 65.5% | +1 bp | +0.1% |
| KOKU | Xtrackers MSCI Kokusai Equity ETF | 65.2% | 0 bp | -0.2% |
| CRBN | iShares MSCI ACWI Low Carbon Target ETF | 58.9% | +11 bp | -0.2% |
| IWV | iShares Russell 3000 ETF | 56.8% | +11 bp | -0.7% |
| VTI | Vanguard Total Stock Market ETF | 56.8% | -6 bp | -0.6% |
| VTHR | Vanguard Russell 3000 ETF | 56.8% | +1 bp | -0.6% |
Risk and Returns: SPGM 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 11/15/2024
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
SPGM
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
SPGM
5.4%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 375 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.6%. SPGM's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places SPGM in the 60th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPGMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| SPGM (9 bp) Percentile rank | 3 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPGM | 9.0 | 17.5 | 26.5 |
| Peer Avg. | 25.4 | 7.7 | 33.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .