SPDR S&P Emerging Markets Dividend ETF
ALTAR
Score™
12.2% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.1x P/Sales
ratio
1.1x
P/BV
ratio
1.0x Div.
yield
5.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Emerging Markets Dividend ETF's objective is to replicate as closely as possible the performance of the S&P Emerging Markets Dividend Opportunities Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Feb 24, 2011
Assets (mns) $249
Currency USD
Expense ratio 49 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 106
Wgt avg mkt cap (mns) $25,381
Large cap (>$10bn) 49.1%
Mid cap ($2-10bn) 34.6%
Small cap (<$2bn) 16.3%
Developed mkts 24.4%
Emerging mkts 75.6%

TOP TEN HOLDINGS
HENGAN INTL GROUP CO LTD 4.2 %
TAIWAN SEMICONDUCTOR MANUFAC 3.5 %
CHINA RESOURCES LAND LTD 3.4 %
PTT GLOBAL CHEMICAL PCL-NVDR 3.3 %
CHINA MOBILE LIMITED 3.3 %
PTT PCL-NVDR 3.2 %
LONGFOR PROPERTIES 3.1 %
FORMOSA PLASTICS CORP 2.9 %
CNOOC LTD 2.7 %
PTT EXPLOR & PROD PCL-NVDR 2.6 %
Total 32.1 %

TOP COUNTRY EXPOSURE
TAIWAN 21.5 %
HONG KONG 18.5 %
THAILAND 17.4 %
SOUTH AFRICA 13.0 %
CHINA 9.8 %
MALAYSIA 5.8 %
UAE 2.6 %
INDIA 2.6 %
INDONESIA 1.6 %
MEXICO 1.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.5% -21.7% -4.1% -- -4.8%

Market Correlations
versus... Beta R-squared
S&P500 0.84 52%
MSCI EAFE 1.02 67%
MSCI Emg. Mkts. 0.93 85%

Technical Indicators
Recent close $24.28
30d moving avg. $23.72
Annualized volatility 19.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 145
Turnover 1.4%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $2,389

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR S&P Emerging Markets Dividend ETF ETF based on the alternatives' overlap in portfolio holdings with EDIV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EDIV Expense: 49 bp ALTAR Score™: 12.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EDIV
Ticker Fund
Name
Overlap1
vs EDIV
(%)
Expense
ratio
(bp)
Savings
vs EDIV
(bp)
ALTAR
Score™
(%)
ALTAR
vs EDIV
(%)
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 17.5 51 -2 14.3 +2.1
DEM WisdomTree Emerging Markets High Dividend Fund 17.5 63 -14 14.9 +2.7
AXJL WisdomTree Asia Pacific ex-Japan Fund 16.6 48 1 10.1 -2.2
FLTW Franklin FTSE Taiwan ETF 15.4 19 30 7.0 -5.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 15.3 39 10 14.0 +1.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 14.7 29 20 10.3 -1.9
EWT iShares MSCI Taiwan ETF 14.3 59 -10 6.7 -5.6
PXH Invesco FTSE RAFI Emerging Markets ETF 14.1 50 -1 14.6 +2.3
THD iShares MSCI Thailand ETF 12.8 59 -10 10.6 -1.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 12.8 45 4 9.4 -2.8
JHEM John Hancock Multifactor Emerging Markets ETF 12.3 55 -6 9.5 -2.8
FLZA Franklin FTSE South Africa ETF 11.4 19 30 12.4 +0.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 11.4 45 4 10.4 -1.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 11.4 40 9 8.1 -4.1
ASEA Global X Southeast Asia ETF 11.3 65 -16 11.1 -1.1
FXI iShares China Large-Cap ETF 11.0 74 -25 14.2 +2.0
SCHE Schwab Emerging Markets Equity ETF 11.0 13 36 9.2 -3.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 10.8 14 35 10.1 -2.2
EEMA iShares MSCI Emerging Markets Asia ETF 10.5 50 -1 9.0 -3.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 10.5 25 24 8.9 -3.3
EZA iShares MSCI South Africa ETF 10.5 59 -10 10.2 -2.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 10.5 30 19 9.3 -3.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 10.5 95 -46 10.9 -1.4
ESGE iShares ESG MSCI EM ETF 10.5 25 24 10.3 -1.9
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 10.4 50 -1 10.6 -1.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 10.1 30 19 9.8 -2.4
SPEM SPDR Portfolio Emerging Markets ETF 10.1 11 38 9.1 -3.1
EEM iShares MSCI Emerging Markets ETF 10.0 68 -19 8.8 -3.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 9.9 65 -16 8.9 -3.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 9.8 60 -11 9.1 -3.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 9.7 50 -1 22.1 +9.9
ROAM Hartford Multifactor Emerging Markets ETF 9.6 44 5 15.9 +3.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 9.6 49 0 8.9 -3.4
IEMG iShares Core MSCI Emerging Markets ETF 9.6 14 35 9.3 -3.0
EMXC iShares MSCI Emerging Markets ex China ETF 9.5 49 0 8.9 -3.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 9.4 45 4 9.1 -3.1
FLAX Franklin FTSE Asia Ex Japan ETF 9.4 19 30 9.1 -3.2
VWO Vanguard FTSE Emerging Markets ETF 9.3 10 39 9.4 -2.8
EDOG ALPS Emerging Sector Dividend Dogs ETF 9.3 60 -11 11.1 -1.1
AIA iShares Asia 50 ETF 9.2 50 -1 9.4 -2.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 9.2 68 -19 8.5 -3.7
DVEM WisdomTree Emerging Markets Dividend Fund 9.1 32 17 9.6 -2.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 9.0 32 17 10.1 -2.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 8.6 49 0 9.6 -2.7
XCEM Columbia EM Core ex-China ETF 8.5 16 33 8.3 -3.9
ISEM Invesco Strategic Emerging Markets ETF 8.5 35 14 11.1 -1.1
EMFM Global X MSCI Next Emerging & Frontier ETF 8.4 55 -6 9.2 -3.0
RNEM Emerging Markets Equity Select ETF 8.3 75 -26 11.2 -1.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 8.3 20 29 8.1 -4.2
DWX SPDR S&P International Dividend ETF 8.3 45 4 8.3 -3.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 7.9 59 -10 11.8 -0.4
FCA First Trust China AlphaDEX Fund 7.8 80 -31 15.9 +3.6
FRDM Freedom 100 Emerging Markets ETF 7.6 49 0 8.1 -4.2
NUEM Nuveen ESG Emerging Markets Equity ETF 7.4 45 4 8.2 -4.0
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 7.3 64 -15 5.8 -6.4
CHIR Global X MSCI China Real Estate ETF 7.3 65 -16 19.2 +7.0
VYMI Vanguard International High Dividend Yield ETF 7.1 32 17 10.8 -1.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 7.1 20 29 11.6 -0.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 7.1 45 4 10.4 -1.8
CHIL Global X MSCI China Large-Cap 50 ETF 7.0 29 20 10.0 -2.3
GMF SPDR S&P Emerging Asia Pacific ETF 6.8 49 0 8.5 -3.7
EMMF WisdomTree Emerging Markets Multifactor Fund 6.7 48 1 10.4 -1.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 6.7 32 17 7.3 -4.9
ECON Columbia Emerging Markets Consumer ETF 6.6 59 -10 5.2 -7.1
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 6.6 63 -14 13.9 +1.7
FEM First Trust Emerging Markets AlphaDEX Fund 6.2 80 -31 12.4 +0.2
MCHI iShares MSCI China ETF 6.2 59 -10 9.6 -2.7
EMCG WisdomTree Emerging Markets Consumer Growth Fund 6.2 32 17 8.0 -4.3
EEMO Invesco S&P Emerging Markets Momentum ETF 6.2 30 19 7.6 -4.6
DVYE iShares Emerging Markets Dividend ETF 5.9 49 0 13.6 +1.4
EWM iShares MSCI Malaysia ETF 5.8 49 0 6.6 -5.7
FLCH Franklin FTSE China ETF 5.8 19 30 9.7 -2.5
PIE Invesco DWA Emerging Markets Momentum ETF 5.7 90 -41 6.1 -6.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.6 70 -21 13.7 +1.5
GXC SPDR S&P China ETF 5.5 59 -10 9.4 -2.8
AFK VanEck Vectors Africa Index ETF 5.1 78 -29 3.2 -9.0
CHII Global X China Industrials ETF 5.1 66 -17 12.7 +0.5
AVEM Avantis Emerging Markets Equity ETF 5.0 33 16 10.1 -2.1
EMIF iShares Emerging Markets Infrastructure ETF 5.0 75 -26 8.3 -3.9
KALL KraneShares FTSE Emerging Markets Plus ETF 4.6 49 0 9.6 -2.6
BKF iShares MSCI BRIC ETF 4.6 69 -20 9.0 -3.2
DTH WisdomTree DEFA Equity Income Fund 4.4 58 -9 10.3 -2.0
CN Xtrackers MSCI All China Equity ETF 4.4 50 -1 9.9 -2.4
CHIS Global X MSCI China Consumer Staples ETF 4.2 65 -16 4.1 -8.2
EYLD Cambria Emerging Shareholder Yield ETF 4.2 66 -17 17.8 +5.6
IGRO iShares International Dividend Growth ETF 4.1 22 27 8.5 -3.7
IQDF FlexShares International Quality Dividend Index Fund 4.0 47 2 13.8 +1.6
SDEM Global X SuperDividend Emerging Markets ETF 4.0 67 -18 23.7 +11.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.9 16 33 7.5 -4.7
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.8 47 2 14.5 +2.3
WCHN WisdomTree ICBCCS S&P China 500 Fund 3.6 55 -6 9.3 -2.9
FID First Trust S&P International Dividend Aristocrats ETF 3.6 60 -11 10.2 -2.0
VSGX Vanguard ESG International Stock ETF 3.5 17 32 7.9 -4.3
EWX SPDR S&P Emerging Markets Small Cap ETF 3.5 65 -16 7.3 -4.9
DEW WisdomTree Global High Dividend Fund 3.5 58 -9 9.5 -2.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 3.4 29 20 13.0 +0.8
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 3.4 45 4 14.3 +2.0
DOL WisdomTree International LargeCap Dividend Fund 3.4 48 1 9.1 -3.2
GULF WisdomTree Middle East Dividend Fund 3.4 88 -39 8.7 -3.5
ACWX iShares MSCI ACWI ex U.S. ETF 3.4 32 17 8.0 -4.2

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Emerging Markets Dividend ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.9 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 12.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.45
 
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.