Overview
The S&P 600 — small caps with a profitability requirement built into the index — at 0.03%, the cheapest quality-screened small-cap fund.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| FYBR | Frontier Communications | 0.7% |
| AWI | Armstrong World Ind. | 0.6% |
| MLI | Mueller Industries | 0.6% |
| CSWI | CSW Industrials | 0.5% |
| JXN | Jackson Financial | 0.5% |
| MOG.A | Moog Inc. | 0.5% |
| SKYW | SkyWest Inc. | 0.5% |
| GKOS | Glaukos Corp. | 0.5% |
| ATGE | Adtalem Global Ed. | 0.4% |
| CALM | Cal-Maine Foods | 0.4% |
Fund Details
Investment Thesis
The S&P 600's secret weapon is its earnings requirement: companies must be profitable to enter the index, which historically beat the Russell 2000 by sidestepping its money-losing tail. SPSM delivers that quality-screened small-cap universe for three basis points. The +22% trailing year came as small caps finally joined the rally — with the profitability screen cushioning the segment's usual junk risk.
Who It's For
Small-cap allocators who want the quality-screened benchmark at minimum cost. The natural pick over Russell 2000 funds for buy-and-hold investors; pairs with SPLG/SPYV in an all-SPDR portfolio.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $27.89 | -- |
| 2017 | $31.23 | +12.0% |
| 2018 | $28.11 | -10.0% |
| 2019 | $34.01 | +21.0% |
| 2020 | $37.42 | +10.0% |
| 2021 | $47.14 | +26.0% |
| 2022 | $39.13 | -17.0% |
| 2023 | $45.00 | +15.0% |
| 2024 | $48.60 | +8.0% |
| 2025 | $52.00 | +7.0% |
| Year | Yield |
|---|---|
| 2016 | 1.40% |
| 2017 | 1.30% |
| 2018 | 1.50% |
| 2019 | 1.40% |
| 2020 | 1.20% |
| 2021 | 1.10% |
| 2022 | 1.50% |
| 2023 | 1.60% |
| 2024 | 1.50% |
| 2025 | 1.50% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1B | -- |
| 2017 | $1.5B | +50.0% |
| 2018 | $2B | +33.3% |
| 2019 | $2.5B | +25.0% |
| 2020 | $3B | +20.0% |
| 2021 | $5B | +66.7% |
| 2022 | $6B | +20.0% |
| 2023 | $8B | +33.3% |
| 2024 | $10B | +25.0% |
| 2025 | $12B | +20.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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