SPDR Portfolio S&P 600 Small Cap ETF (SPSM) Performance
SPSM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.0% since Dec 31, 2025
- 1 year
- +16.6% total return
- 5 years
- +5.8% a year
- 10 years
- +10.2% a year
- Since first price
- +9.5% a year since 2013
SPSM trailing returns vs SPY, QQQ, AGG
| Period | SPSM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.2% | −4.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.7% | +1.9% | +7.8% | +8.4% | −1.5% |
| YTD | +16.0% | +14.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +16.6% | +14.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +63.2%+17.7%/yr | +54.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +32.4%+5.8%/yr | +21.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +164.9%+10.2%/yr | +125.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionJul 9, 2013 | +233.4%+9.5%/yr | +167.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SPSM vs SPY
From Jul 9, 2013: SPSM grew to $33,339, SPY to $57,535.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SPSM returns by calendar year
9 of 12 full years positive. Best 2021 (+26.7%), worst 2022 (−16.1%). 2026 is year to date.
SPSM annual returns table
| Year | SPSM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.0% | −9.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +6.1% | −24.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +8.5% | −9.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.1% | −17.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −16.1% | −24.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.7% | −9.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +11.4% | −42.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +25.9% | −9.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −11.2% | −26.4% | −4.6% | −0.1% | +0.1% |
| 2017 | +15.4% | −6.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +20.1% | −13.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −3.3% | −16.0% | +1.2% | +9.4% | +0.5% |
| 2014 | +4.9% | −12.8% | +13.5% | +19.2% | +6.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SPSM largest drawdowns
Now 7.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 16, 2020 | −42.9% | Mar 23, 2020 | Nov 23, 2020 | 2 months | 10 months |
| Nov 25, 2024 | −27.9% | Apr 8, 2025 | Dec 11, 2025 | 4 months | 1.0 years |
| Aug 31, 2018 | −26.4% | Dec 24, 2018 | Jan 16, 2020 | 4 months | 1.4 years |
| Nov 8, 2021 | −26.4% | Sep 26, 2022 | Jul 16, 2024 | 11 months | 2.7 years |
| Jun 23, 2015 | −25.4% | Feb 11, 2016 | Nov 11, 2016 | 8 months | 1.4 years |
| Jul 1, 2014 | −12.8% | Oct 13, 2014 | Dec 23, 2014 | 3 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SPSM risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +14.8% | +6.2% | +9.7% | +9.2% |
| Volatility (annualized) | 19.1% | 20.4% | 20.8% | 19.4% |
| Sharpe ratio | 0.59 | 0.22 | 0.44 | 0.46 |
| Sortino ratio | 1.05 | 0.35 | 0.67 | 0.70 |
| Best month | +12.8% | +12.8% | +18.0% | +18.0% |
| Worst month | −8.1% | −9.7% | −22.7% | −22.7% |
| Best 12 months | +38.8% | +38.8% | +96.1% | +96.1% |
| Worst 12 months | −4.8% | −18.7% | −26.4% | −26.4% |
| Positive months | 56% | 52% | 62% | 63% |
| Beta vs S&P 500 | 1.07 | 1.03 | 1.13 | — |
| Correlation with S&P 500 | 0.70 | 0.79 | 0.83 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SPSM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 148 | −26.4% | +6.4% | +96.1% | 70% |
| 3-year (a year) | 124 | −5.4% | +9.1% | +21.8% | 96% |
| 5-year (a year) | 100 | −0.7% | +8.2% | +16.9% | 99% |
| 10-year (a year) | 40 | +6.4% | +8.8% | +11.7% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
SPSM performance overview
SPDR Portfolio S&P 600 Small Cap ETF (SPSM) returned +16.6% over the past year and +10.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +9.5% a year, turning $10,000 into about $33,339. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −42.9%, from Jan 16, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. SPSM finished 9 of its 12 full calendar years with a gain; the best year was 2021 (+26.7%) and the worst 2022 (−16.1%). Volatility has been 19.4% a year.
Related: SPSM chart, SPSM holdings, SPSM dividends, SPSM valuation. See the SPSM overview for the latest quote and fund facts.
SPSM performance FAQ
What is the SPSM return over the past year?
SPSM returned +16.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.7%.
What is the average annual return of SPSM?
SPSM has returned +5.8% a year over 5 years, +10.2% a year over 10 years, +9.5% a year since July 9, 2013 (total return, distributions reinvested).
How much would $10,000 invested in SPSM be worth?
$10,000 invested in SPSM at its first recorded close on July 9, 2013 would be worth about $33,339 on October 23, 2026 with distributions reinvested.
What was the worst year for SPSM?
The worst calendar year was 2022, with a total return of −16.1%. The best was 2021 at +26.7%.
What is the biggest drawdown of SPSM?
The largest peak-to-trough decline was −42.9% between January 16, 2020 and March 23, 2020. It recovered to the old high on November 23, 2020, 8 months after the bottom.
How volatile is SPSM?
Over the past 3 years SPSM had an annualized volatility of 19.1% and a Sharpe ratio of 0.59 (excess return over 1–3 month T-bills per unit of risk).