Designed to provide broad exposure to the Large Cap Value segment of the US equity market, the SPDR Portfolio S&P 500 Value ETF (SPYV) is a passively managed exchange traded fund launched on 09/25/2000.

The fund is sponsored by State Street Global Advisors. It has amassed assets over $25.29 billion, making it one of the largest ETFs attempting to match the Large Cap Value segment of the US equity market.

Companies that fall in the large cap category tend to have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.

Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. Looking at their long-term performance, value stocks have outperformed growth stocks in almost all markets. They are however likely to underperform growth stocks in strong bull markets.

Investors should also pay attention to an ETF’s expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.

Annual operating expenses for this ETF are 0.04%, making it the least expensive products in the space.

It has a 12-month trailing dividend yield of 2.13%.

Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund’s holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Information Technology sector–about 22.70% of the portfolio. Financials and Healthcare round out the top three.

Looking at individual holdings, Apple Inc (AAPL) accounts for about 7.94% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN).

The top 10 holdings account for about 28.52% of total assets under management.

SPYV seeks to match the performance of the S&P 500 Value Index before fees and expenses. The S&P 500 Value Index measures the performance of the large-capitalization value sector in the U.S. equity market.

The ETF has gained about 0.88% so far this year and was up about 6.84% in the last one year (as of 03/26/2025). In the past 52-week period, it has traded between $47.37 and $55.27.

The ETF has a beta of 0.92 and standard deviation of 14.35% for the trailing three-year period, making it a medium risk choice in the space. With about 405 holdings, it effectively diversifies company-specific risk.