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% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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