SPEMvsGMFETF Comparison
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State Street SPDR Portfolio Emerging Markets ETF (SPEM) and State Street SPDR S&P Emerging Asia Pacific ETF (GMF) belong to the same industry segment: EM Blended Cap. Both ETFs have the same top 3 sector exposures: Technology, Finance and Non-Energy Materials. SPEM is less expensive with a Total Expense Ratio (TER) of 0.07%, versus 0.49% for GMF. SPEM is up 5.51% year-to-date (YTD) with +$144M in YTD flows. GMF performs better with 5.89% YTD performance, and -$21M in YTD flows. Run a side-by-side ETF comparison of SPEM and GMF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SPEM vs GMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPEM GMF | -5.64%-6.16% | -4.96%-4.14% | +5.51%+5.89% | +5.32%+4.73% | +60.96%+63.19% | +31.67%+30.42% |
| Flows | SPEM GMF | -$251M-$16M | -$309M-$32M | +$144M-$21M | +$1.08B-$21M | +$4.78B-$86M | +$7.82B-$242M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPEM GMF | +11.92%+13.14% | +15.69%+16.88% | +14.09%+15.34% | +14.65%+16.09% |
| Max drawdown | SPEM GMF | -8.91%-8.41% | -10.55%-11.55% | -15.79%-18.08% | -29.48%-33.25% |
| Max drawdown duration | SPEM GMF | 55d41d | 58d65d | 242d261d | 1043d1044d |
Trading data
SPEM | GMF | |
Last sale 11/2/2026 at 2:30 PM | $48.64 | $146.28 |
| Previous close 11/02/2026 | $48.47 | $146.07 |
| Consolidated volume 11/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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SPEM | GMF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/2/2026 at 2:30 PM
Live
Closed
SPEM | GMF | |
|---|---|---|
| Last price | $48.64 | $146.28 |
| 1D performance | +0.35% | +0.14% |
| AuM | $16.24 B | $382.83 M |
| E/R | 0.07% | 0.49% |
Characteristics
SPEM | GMF | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | State Street Investment Management |
| Benchmark | S&P Emerging BMI Index | S&P Emerging Asia Pacific BMI Index |
| N° of holdings | 2434 | 1235 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 20, 2007 | March 20, 2007 |
| ESG | No | No |
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Exposure
Countries
SPEM
Taiwan
33.49%
China
23.59%
India
14.95%
Other
27.97%
GMF
Taiwan
42.51%
China
29.16%
India
18.35%
Other
9.97%
Sectors
SPEM
Technology
35.09%
Finance
22.04%
Non-Energy Materi.
9.08%
Consumer Non-Cycl.
7.26%
Other
26.53%
GMF
Technology
44.11%
Finance
17.6%
Non-Energy Materi.
7.68%
Other
30.6%
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Diversification
SPEM
Total weight of top 15 holdings out of 15
29.2%
GMF
Total weight of top 15 holdings out of 15
35.81%
Top 15 holdings
Data as of September 30, 2026
SPEM
Taiwan Semiconductor Manufacturing Co., Ltd.
14.63%
Tencent Holdings Ltd.
2.71%
Alibaba Group Holding Ltd.
2.06%
MediaTek, Inc.
1.98%
Delta Electronics, Inc.
0.99%
China Construction Bank Corp.
0.97%
Hon Hai Precision Industry Co., Ltd.
0.88%
ASE Technology Holding Co., Ltd.
0.73%
HDFC Bank Ltd.
0.72%
Reliance Industries Ltd.
0.70%
ICICI Bank Ltd.
0.67%
Industrial & Commercial Bank of China Ltd.
0.59%
United Microelectronics Corp.
0.53%
CTBC Financial Holding Co., Ltd.
0.53%
Bank of China Ltd.
0.50%
GMF
Taiwan Semiconductor Manufacturing Co., Ltd.
9.78%
Taiwan Semiconductor Manufacturing Co., Ltd.
8.31%
Tencent Holdings Ltd.
3.30%
MediaTek, Inc.
2.57%
Alibaba Group Holding Ltd.
2.54%
China Construction Bank Corp.
1.26%
Hon Hai Precision Industry Co., Ltd.
1.21%
Delta Electronics, Inc.
1.20%
ASE Technology Holding Co., Ltd.
0.96%
HDFC Bank Ltd.
0.86%
Industrial & Commercial Bank of China Ltd.
0.84%
Reliance Industries Ltd.
0.83%
ICICI Bank Ltd.
0.83%
United Microelectronics Corp.
0.71%
Elite Material Co., Ltd.
0.62%
Frequently asked questions about SPEM and GMF
How have the SPEM and GMF ETFs performed in 2026?
As of November 2, 2026, SPEM is up 5.51% year-to-date (YTD), while GMF has returned 5.89%. That puts GMF better performer ahead so far this year.
Which ETF is attracting more investor money: SPEM or GMF?
Year-to-date, the SPEM ETF saw +$144M in flows, compared to -$21M for GMF.
Which ETF is more volatile: SPEM or GMF?
Over the past year, SPEM had a volatility of 15.69%, while GMF experienced 16.88%.
Which ETF is bigger: SPEM or GMF?
As of November 2, 2026, SPEM holds $16.24 B in assets under management (AUM), while GMF manages $382.83 M.
What sectors do the SPEM and GMF ETFs invest in?
SPEM leans toward sectors like Technology, Finance and Non-Energy Materials. Meanwhile, GMF focuses on Technology, Finance and Non-Energy Materials.
What are the top holdings of the SPEM ETF and GMF ETF?
SPEM top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Ltd. and Alibaba Group Holding Ltd.. GMF holds in its top three: Taiwan Semiconductor Manufacturing Co., Ltd., Taiwan Semiconductor Manufacturing Co., Ltd. and Tencent Holdings Ltd..
Which ETF is more diversified: SPEM or GMF?
SPEM holds 2492 securities with 29.2% of its assets in the top 15. GMF has 1264 securities and a top 15 weight of 35.81%.
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Latest news about SPEM & GMF
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