The "SM" rating has nothing to do with wet clutch compatibility.
Most oils are rated SM. In fact, the rating system now goes to "SN". They began with "SA" in the 1930's I believe. The ratings were changed/upgraded as engines became more advanced and placed different demands on lubricating qualities. A good read is found here:
https://en.wikipedia.org/wiki/Motor_oil#API_service_classes
The issue with wet clutches is the friction modifiers added to the oil. This shows as "Energy Conserving" in the bottom half-circle around the rating number.
There has been an adoption of "JASO" standards for motorcycles in recent years. Not all oils meet these standards. Nor do they need to.
From a Wikepedia article:""The
Japanese Automotive Standards Organization (JASO) has created their own set of performance and quality standards for petrol engines of Japanese origin.
For four-stroke gasoline engines, the JASO T904 standard is used, and is particularly relevant to motorcycle engines. The JASO T904-MA and MA2 standards are designed to distinguish oils that are approved for wet clutch use, with MA2 lubricants delivering higher friction performance. The JASO T904-MB standard denotes oils not suitable for wet clutch use, and are therefore used in scooters equipped with continuously variable transmissions. The addition of friction modifiers to JASO MB oils can contribute to greater fuel economy in these applications.[SUP]
[23][/SUP]
For two-stroke gasoline engines, the
JASO M345 (FA, FB, FC, FD) standard is used,[SUP]
[24][/SUP] and this refers particularly to low ash, lubricity, detergency, low smoke and exhaust blocking.
These standards, especially JASO-MA (for motorcycles) and JASO-FC, are designed to address oil-requirement issues not addressed by the API service categories. One element of the JASO-MA standard is a friction test designed to determine suitability for wet clutch usage.
[SUP][10][/SUP][SUP][25][/SUP] An oil that meets JASO-MA is considered appropriate for wet clutch operations. Oils marketed as motorcycle-specific will carry the JASO-MA label."
Use of "SM" rated oil will not hurt your Spyder. What will cause a problem is SM oil with friction modifiers shown as "Energy Conserving" in the API donut on the label.