State Street SPDR Portfolio S&P 400 Mid Cap ETF
SPMD
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- SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is an exchange-traded fund that seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P MidCap 400 Index. The fund employs a sampling strategy to track the float-adjusted, market capitalization-weighted index comprising approximately 400 mid-sized U.S. companies selected by the S&P Committee; it generally invests at least 80% of its total assets in the securities comprising the index or depositary receipts representing such securities. As of September 30, 2025, the ETF holds 401 securities with top sectors including industrials (23.01%), financials (16.94%), and information technology (13.33%); leading holdings feature Comfort Systems USA Inc. (0.93%), Pure Storage Inc. (0.83%), and Flex Ltd. (0.70%). Launched on November 8, 2005, with CUSIP 78464A847 and headquartered in Boston, Massachusetts under State Street Investment Management (formerly State Street Global Advisors), SPMD operates primarily in the U.S. equity mid-cap blend segment and targets long-term investors seeking diversified exposure to mid-capitalization companies. The fund maintains a gross expense ratio of 0.03%, a 30-day SEC yield of 1.37%, and assets under management exceeding $14 billion as of recent data; it distributes dividends quarterly, with recent payouts including $0.2111 per share. Originally launched as a different fund tracking the Dow Jones U.S. Mid-Cap Total Stock Market Index under ticker RSCO, SPMD underwent multiple rebrandings and index changes, including shifts to the Russell Small Cap Completeness Index (2013), S&P 1000 Index (2016-2020 under ticker SMD and name SPDR Portfolio Mid Cap ETF), and finally to the S&P MidCap 400 Index effective January 24, 2020. Its expense ratio was reduced from 0.05% to 0.03% in August 2023 as part of State Street's broad cost-cutting initiative across its low-cost SPDR Portfolio ETF suite, enhancing competitiveness among mid-cap ETFs. No major acquisitions, partnerships, or new product launches specific to SPMD have been reported in the last 1-2 years, though State Street continues to expand its SPDR Portfolio lineup with related offerings like the SPDR Portfolio Ultra Short T-Bill ETF in 2025.