ETF Versus

SPSM vs SPY

State Street SPDR Portfolio S&P 600 Small Cap ETF vs State Street SPDR S&P 500 ETF Trust

Last updated: 2026-04-02

State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is an exchange-traded fund that provides exposure to small-cap U.S. equities with higher growth potential and volatility. Launched in 2013, the fund has a 13-year track record.

AUM: N/A ER: N/A Yield: N/A Since: 2013-07-09
SPY

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund that provides exposure to large-cap U.S. equities across growth and value styles. Launched in 1993, the fund has a 33-year track record.

AUM: N/A ER: N/A Yield: N/A Since: 1993-01-29

Quick Verdict

SPSM has edged ahead over the past year (17.2% vs 16.1%).

Key Metrics

Metric SPSM SPY
Expense Ratio N/A N/A
Dividend Yield N/A N/A
Fund Family N/A N/A
Category US Small Cap US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

80 99 118 137 156 175 2021-04 2022-06 2023-09 2024-12 2026-04
SPSM +13.0%
SPY +61.2%

Performance Comparison

Period SPSM SPY Difference
1 Month -3.42% -3.69% +0.27%
3 Months +2.83% -4.09% +6.92%
6 Months +4.15% -2.44% +6.59%
YTD +2.83% -4.09% +6.92%
1 Year +17.20% +16.07% +1.13%
3 Years +28.78% +59.45% -30.67%
5 Years +12.96% +61.25% -48.29%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period SPSM Fees SPY Fees You Save
$10,000 10 years $0 $0 $0
$10,000 20 years $0 $0 $0
$10,000 30 years $0 $0 $0
$50,000 10 years $0 $0 $0
$50,000 30 years $0 $0 $0
$100,000 30 years $0 $0 $0

Risk Metrics

Based on 5 years of daily returns

Metric SPSM SPY
Annualized Volatility 21.5% 17.1%
Max Drawdown -28.7% -25.4%
Sharpe Ratio 0.01 0.38

Dividend Comparison

Metric SPSM SPY
Annual Dividend (per share) $0.77 $7.38
Dividend Yield 1.58% 1.13%
Distribution Frequency Quarterly Quarterly

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