SPDR S&P International Dividend ETF
ALTAR
Score™
7.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
1.6x
P/BV
ratio
1.3x Div.
yield
4.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P International Dividend ETF objective is to provide investment results that correspond generally to the price and yield performance of the S&P International Dividend Opportunities Inde

FUND BASICS
Category International Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Feb 12, 2008
Assets (mns) $623
Currency USD
Expense ratio 45 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Dividend
Index replication Derivative
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 99
Wgt avg mkt cap (mns) $25,207
Large cap (>$10bn) 54.5%
Mid cap ($2-10bn) 42.2%
Small cap (<$2bn) 3.3%
Developed mkts 88.3%
Emerging mkts 11.7%

TOP TEN HOLDINGS
TOTAL SA 2.3 %
TELENOR ASA 1.7 %
ENAGAS 1.7 %
BCE INC. 1.6 %
SHAW COMMUNICATIONS INC-B 1.6 %
TRANSCANADA CORP 1.6 %
ENDESA SA 1.6 %
TELUS CORPORATION 1.5 %
SK TELECOM CO., LTD. 1.5 %
NATIONAL GRID PLC 1.4 %
Total 16.5 %

TOP COUNTRY EXPOSURE
CANADA 17.8 %
JAPAN 12.4 %
SWITZERLAND 10.3 %
BRITAIN 7.9 %
AUSTRALIA 6.9 %
HONG KONG 6.8 %
SPAIN 4.7 %
TAIWAN 4.7 %
GERMANY 4.0 %
FRANCE 4.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.1% -7.9% 1.9% 1.3% -1.1%

Market Correlations
versus... Beta R-squared
S&P500 0.69 71%
MSCI EAFE 0.83 88%
MSCI Emg. Mkts. 0.61 76%

Technical Indicators
Recent close $35.00
30d moving avg. $34.16
Annualized volatility 14.1%
Short interest (ETF) 0.1%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 70
Turnover 0.4%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $5,865

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SPDR S&P International Dividend ETF ETF based on the alternatives' overlap in portfolio holdings with DWX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DWX Expense: 45 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DWX
Ticker Fund
Name
Overlap1
vs DWX
(%)
Expense
ratio
(bp)
Savings
vs DWX
(bp)
ALTAR
Score™
(%)
ALTAR
vs DWX
(%)
FID First Trust S&P International Dividend Aristocrats ETF 23.7 60 -15 9.3 +1.7
WDIV SPDR Global Dividend ETF 21.5 40 5 9.4 +1.8
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 19.3 30 15 8.5 +1.0
LVHI Legg Mason International Low Volatility High Dividend ETF 18.4 40 5 9.0 +1.5
EUMV iShares Edge MSCI Min Vol Europe ETF 18.0 25 20 5.0 -2.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 17.9 80 -35 6.5 -1.1
EFAV iShares Edge MSCI Min Vol EAFE ETF 17.5 20 25 5.4 -2.1
IDV iShares International Select Dividend ETF 17.3 49 -4 10.0 +2.5
VGFO Virtus WMC Global Factor Opportunities ETF 17.2 49 -4 7.8 +0.2
VYMI Vanguard International High Dividend Yield ETF 15.2 32 13 9.9 +2.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 15.0 20 25 10.8 +3.3
FDEV Fidelity Targeted International Factor ETF 14.2 39 6 6.5 -1.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 13.7 32 13 6.3 -1.3
QCAN SPDR MSCI Canada Quality Mix ETF 13.5 14 31 6.7 -0.8
IDY Pacific Global International Equity Income ETF 13.4 39 6 7.9 +0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 12.9 48 -3 6.6 -1.0
INFR Legg Mason Global Infrastructure ETF 12.9 40 5 6.0 -1.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 12.7 20 25 9.4 +1.9
IFGL iShares International Developed Real Estate ETF 12.4 48 -3 7.7 +0.1
IDLV Invesco S&P International Developed Low Volatility ETF 12.0 25 20 6.7 -0.9
EFV iShares MSCI EAFE Value ETF 11.9 39 6 9.4 +1.9
BBCA JPMorgan BetaBuilders Canada ETF 11.7 19 26 6.7 -0.9
FLCA Franklin FTSE Canada ETF 11.6 9 36 6.9 -0.6
EWC iShares MSCI Canada ETF 11.6 49 -4 6.5 -1.1
FGD First Trust Dow Jones Global Select Dividend Index Fund 11.4 59 -14 10.9 +3.3
PID Invesco International Dividend Achievers ETF 11.4 54 -9 9.1 +1.5
WPS iShares International Developed Property ETF 11.3 48 -3 7.9 +0.3
IQDE FlexShares International Quality Dividend Defensive Index Fd 11.3 47 -2 11.9 +4.4
DOL WisdomTree International LargeCap Dividend Fund 11.2 48 -3 8.5 +0.9
RNDM Developed International Equity Select ETF 11.1 65 -20 6.2 -1.4
DTH WisdomTree DEFA Equity Income Fund 11.1 58 -13 9.6 +2.0
IGRO iShares International Dividend Growth ETF 10.8 22 23 7.8 +0.3
RWX SPDR Dow Jones International Real Estate ETF 10.8 59 -14 6.8 -0.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 10.5 29 16 8.5 +0.9
DWMF WisdomTree International Multifactor Fund 10.4 38 7 6.6 -0.9
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 10.4 45 0 9.8 +2.2
IQDF FlexShares International Quality Dividend Index Fund 10.3 47 -2 12.1 +4.5
DWM WisdomTree International Equity Fund 10.3 48 -3 8.2 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 10.1 35 10 8.4 +0.8
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 10.1 10 35 9.2 +1.6
BKIE BNY Mellon International Equity ETF 10.1 4 41 7.2 -0.3
EFAS Global X MSCI SuperDividend EAFE ETF 10.1 56 -11 9.6 +2.1
QEFA SPDR MSCI EAFE Quality Mix ETF 10.0 30 15 6.8 -0.8
MVIN Natixis Seeyond International Minimum Volatility ETF 9.8 56 -11 5.3 -2.3
PDEV Principal International Multi-Factor Core Index ETF 9.8 25 20 7.7 +0.2
DOO WisdomTree International Dividend ex-Financials Fund 9.8 58 -13 8.6 +1.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 9.7 45 0 8.7 +1.1
SCIX Global X Scientific Beta Asia ex-Japan ETF 9.7 38 7 6.6 -1.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 9.6 14 31 6.9 -0.7
CIL VictoryShares International Volatility Weighted Index ETF 9.6 45 0 6.5 -1.0
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 9.6 45 0 6.5 -1.0
VNQI Vanguard Global ex-US Real Estate Index Fund 9.5 12 33 10.1 +2.5
SCHF Schwab International Equity ETF 9.3 6 39 7.2 -0.3
GLIF AGFiQ Global Infrastructure ETF 9.1 45 0 5.2 -2.4
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 9.1 46 -1 5.3 -2.3
IDEV iShares Core MSCI International Developed Markets ETF 9.0 5 40 7.1 -0.4
JPIN JPMorgan Diversified Return International Equity ETF 8.9 37 8 7.8 +0.2
SPDW SPDR Portfolio Developed World ex-US ETF 8.8 4 41 7.0 -0.5
FIDI Fidelity International High Dividend ETF 8.7 39 6 11.0 +3.5
IDMO Invesco S&P International Developed Momentum ETF 8.6 26 19 4.4 -3.1
IEV iShares Europe ETF 8.5 59 -14 6.7 -0.9
FNDF Schwab Fundamental International Large Co. Index ETF 8.5 25 20 8.6 +1.0
JXI iShares Global Utilities ETF 8.4 46 -1 5.8 -1.8
EFAD ProShares MSCI EAFE Dividend Growers ETF 8.4 50 -5 6.0 -1.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 8.4 30 15 6.9 -0.7
VEA Vanguard FTSE Developed Markets ETF 8.3 5 40 7.3 -0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 8.3 39 6 6.4 -1.1
JHMD John Hancock Multifactor Developed International ETF 8.2 39 6 7.3 -0.2
EFA iShares MSCI EAFE ETF 8.2 32 13 6.9 -0.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 8.2 16 29 6.8 -0.7
FLEE Franklin FTSE Europe ETF 8.1 9 36 6.9 -0.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 8.1 25 20 6.5 -1.1
FLEH Franklin FTSE Europe Hedged ETF 8.0 9 36 7.0 -0.6
CWI SPDR MSCI ACWI ex-US ETF 8.0 30 15 7.1 -0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 8.0 45 0 6.5 -1.1
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 8.0 30 15 0.0 -7.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 8.0 35 10 6.7 -0.8
ESGD iShares MSCI EAFE ESG Optimized ETF 8.0 20 25 6.8 -0.7
BBEU JPMorgan BetaBuilders Europe ETF 8.0 9 36 7.2 -0.3
GSID Goldman Sachs MarketBeta International Equity ETF 7.9 20 25 7.2 -0.3
SCID Global X Scientific Beta Europe ETF 7.9 39 6 6.3 -1.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 7.8 20 25 7.0 -0.6
FIVA Fidelity International Value Factor ETF 7.8 39 6 9.8 +2.2
FSZ First Trust Switzerland AlphaDEX Fund 7.8 80 -35 5.3 -2.3
HFXI IQ 50 Percent Hedged FTSE International ETF 7.7 20 25 7.3 -0.3
IEUR iShares Core MSCI Europe ETF 7.7 9 36 7.1 -0.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 7.6 25 20 6.4 -1.2
ACWX iShares MSCI ACWI ex U.S. ETF 7.6 32 13 7.1 -0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 7.5 7 38 7.4 -0.1
ISDX Invesco Strategic Developed ex-US ETF 7.5 23 22 7.2 -0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 7.5 40 5 6.9 -0.7
IEFA iShares Core MSCI EAFE ETF 7.5 7 38 7.2 -0.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 7.5 30 15 6.0 -1.6
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 7.5 60 -15 7.2 -0.4
VGK Vanguard FTSE Europe ETF 7.4 8 37 7.3 -0.3
IXG iShares Global Financials ETF 7.4 46 -1 9.7 +2.2
FEU SPDR Portfolio Europe ETF 7.4 9 36 7.2 -0.4
DRW WisdomTree Global ex-US Real Estate Fund 7.4 58 -13 10.6 +3.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
SPDR S&P International Dividend ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.5 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.59
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.