SPDR S&P Emerging Markets Dividend ETF
ALTAR
Score™
11.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.0x P/Sales
ratio
0.6x
P/BV
ratio
1.1x Div.
yield
4.8%


  • 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 23, 2011
Assets (mns) $281
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 103
Wgt avg mkt cap (mns) $18,335
Large cap (>$10bn) 54.7%
Mid cap ($2-10bn) 31.5%
Small cap (<$2bn) 13.9%
Developed mkts 16.1%
Emerging mkts 80.5%

TOP TEN HOLDINGS
ADVANCED INFO SERVICE PUBLIC CO., 3.1 %
ITC LTD 3.0 %
FORMOSA PLASTICS CORP 3.0 %
POWER GRID CORP OF INDIA LTD 3.0 %
WALMART DE MEXICO-SER V 3.0 %
PEGATRON CORP 2.9 %
FOMENTO ECONOMICO MEX-SP ADR 2.9 %
RADIANT OPTO-ELECTRONICS COR 2.8 %
QUANTA COMPUTER INC 2.8 %
LENOVO GROUP LTD 2.4 %
Total 28.8 %

TOP COUNTRY EXPOSURE
TAIWAN 25.5 %
HONG KONG 13.5 %
CHINA 11.5 %
SOUTH AFRICA 8.4 %
MEXICO 7.6 %
THAILAND 7.3 %
INDIA 6.2 %
MALAYSIA 4.0 %
SAUDI ARABIA 3.2 %
UAE 1.9 %

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.
-19.5% -16.9% 0.4% -- -4.0%

Market Correlations
versus... Beta R-squared
S&P500 0.82 52%
MSCI EAFE 1.02 67%
MSCI Emg. Mkts. 0.87 81%

Technical Indicators
Recent close $25.67
30d moving avg. $25.64
Annualized volatility 19.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 40
Turnover 0.4%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $1,861

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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™: 11.3%


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
(%)
EELV Invesco S&P Emerging Markets Low Volatility ETF 19.8 29 20 9.8 -1.5
DEM WisdomTree Emerging Markets High Dividend Fund 15.8 63 -14 14.0 +2.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 14.0 25 24 7.7 -3.6
ROAM Hartford Multifactor Emerging Markets ETF 12.8 44 5 14.4 +3.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 12.5 39 10 12.6 +1.3
EMFM Global X MSCI Next Emerging & Frontier ETF 12.0 66 -17 9.0 -2.3
FXI iShares China Large-Cap ETF 11.7 74 -25 13.0 +1.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 11.7 50 -1 10.3 -1.0
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 11.3 51 -2 14.2 +2.9
PXH Invesco FTSE RAFI Emerging Markets ETF 11.2 50 -1 13.2 +1.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 11.1 30 19 8.6 -2.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 11.0 40 9 7.2 -4.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 10.8 44 5 8.9 -2.4
FLTW Franklin FTSE Taiwan ETF 10.2 19 30 6.1 -5.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 9.7 60 -11 8.5 -2.8
JHEM John Hancock Multifactor Emerging Markets ETF 9.7 49 0 8.3 -3.0
EWT iShares MSCI Taiwan ETF 9.6 59 -10 5.7 -5.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 9.5 45 4 9.3 -2.0
RNEM Emerging Markets Equity Select ETF 9.5 75 -26 11.4 +0.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 9.1 70 -21 13.1 +1.8
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 8.9 45 4 13.2 +1.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 8.7 30 19 7.7 -3.6
ECON Columbia Emerging Markets Consumer ETF 8.6 59 -10 4.5 -6.8
EEMD AAM S&P Emerging Markets High Dividend Value ETF 8.4 50 -1 17.8 +6.5
FLZA Franklin FTSE South Africa ETF 8.0 19 30 11.4 +0.1
SPEM SPDR Portfolio Emerging Markets ETF 8.0 11 38 7.8 -3.5
SCHE Schwab Emerging Markets Equity ETF 8.0 11 38 7.9 -3.4
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 8.0 45 4 8.8 -2.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 7.7 45 4 7.8 -3.5
GMF SPDR S&P Emerging Asia Pacific ETF 7.7 49 0 7.2 -4.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 7.7 60 -11 10.3 -1.0
ASEA Global X Southeast Asia ETF 7.5 65 -16 10.2 -1.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 7.4 15 34 8.6 -2.8
EZA iShares MSCI South Africa ETF 7.3 59 -10 7.6 -3.7
BKEM BNY Mellon Emerging Markets Equity ETF 7.3 11 38 8.4 -3.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 7.2 20 29 10.8 -0.5
EEMA iShares MSCI Emerging Markets Asia ETF 7.2 50 -1 7.4 -3.9
VWO Vanguard FTSE Emerging Markets ETF 7.2 10 39 8.0 -3.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 7.0 36 13 8.0 -3.3
EEM iShares MSCI Emerging Markets ETF 7.0 68 -19 7.3 -4.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 7.0 65 -16 7.3 -4.0
ISEM Invesco Strategic Emerging Markets ETF 6.9 35 14 10.2 -1.1
ESGE iShares ESG MSCI EM ETF 6.7 25 24 8.5 -2.8
GXC SPDR S&P China ETF 6.6 59 -10 8.0 -3.3
IEMG iShares Core MSCI Emerging Markets ETF 6.6 13 36 7.8 -3.5
MCHI iShares MSCI China ETF 6.5 59 -10 7.8 -3.5
EMMF WisdomTree Emerging Markets Multifactor Fund 6.5 48 1 9.3 -2.0
CHIL Global X MSCI China Large-Cap 50 ETF 6.5 29 20 8.3 -3.0
AVEM Avantis Emerging Markets Equity ETF 6.5 33 16 8.7 -2.7
DWX SPDR S&P International Dividend ETF 6.3 45 4 7.6 -3.8
FLCH Franklin FTSE China ETF 6.3 19 30 8.3 -3.0
EMXC iShares MSCI Emerging Markets ex China ETF 6.2 25 24 7.9 -3.4
FLAX Franklin FTSE Asia Ex Japan ETF 6.1 19 30 7.6 -3.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.0 59 -10 10.8 -0.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 6.0 49 0 7.6 -3.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.0 49 0 7.6 -3.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 5.9 68 -19 7.0 -4.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 5.9 63 -14 12.5 +1.2
LVIN Hartford Multifactor Low Volatility International Equity ETF 5.9 29 20 12.0 +0.7
THD iShares MSCI Thailand ETF 5.9 59 -10 10.3 -1.1
DVYE iShares Emerging Markets Dividend ETF 5.9 49 0 16.4 +5.1
SDEM Global X SuperDividend Emerging Markets ETF 5.8 66 -17 15.9 +4.6
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 5.6 64 -15 4.6 -6.8
KALL KraneShares FTSE Emerging Markets Plus ETF 5.3 49 0 8.1 -3.2
BKF iShares MSCI BRIC ETF 5.3 69 -20 7.4 -3.9
EYLD Cambria Emerging Shareholder Yield ETF 5.2 66 -17 17.1 +5.8
VYMI Vanguard International High Dividend Yield ETF 5.1 32 17 9.9 -1.4
PIE Invesco DWA Emerging Markets Momentum ETF 5.0 90 -41 4.6 -6.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.9 20 29 6.7 -4.6
FCA First Trust China AlphaDEX Fund 4.9 80 -31 13.5 +2.2
AIA iShares Asia 50 ETF 4.9 50 -1 7.9 -3.4
NUEM Nuveen ESG Emerging Markets Equity ETF 4.8 45 4 7.0 -4.3
CN Xtrackers MSCI All China Equity ETF 4.8 50 -1 8.1 -3.2
EWW iShares MSCI Mexico Capped ETF 4.8 49 0 8.6 -2.7
CHIR Global X MSCI China Real Estate ETF 4.7 65 -16 16.9 +5.6
FRDM Freedom 100 Emerging Markets ETF 4.6 49 0 6.5 -4.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 4.6 95 -46 9.2 -2.1
AFK VanEck Vectors Africa Index ETF 4.5 79 -30 8.5 -2.8
FLMX Franklin FTSE Mexico ETF 4.4 19 30 9.6 -1.7
WDIV SPDR Global Dividend ETF 4.4 40 9 9.4 -2.0
CHIX Global X China Financials ETF 4.3 66 -17 18.6 +7.3
CHIC Global X Nasdaq China Technology ETF 4.3 66 -17 3.8 -7.5
VIDI Vident International Equity Fund 4.2 59 -10 10.9 -0.4
CHII Global X China Industrials ETF 4.1 66 -17 11.4 +0.1
DVEM WisdomTree Emerging Markets Dividend Fund 4.1 32 17 8.1 -3.2
FEM First Trust Emerging Markets AlphaDEX Fund 4.1 80 -31 12.9 +1.6
INDY iShares India 50 ETF 4.0 94 -45 5.3 -6.0
EWM iShares MSCI Malaysia ETF 4.0 49 0 5.7 -5.6
FLLA Franklin FTSE Latin America ETF 3.9 19 30 6.6 -4.7
FID First Trust S&P International Dividend Aristocrats ETF 3.8 60 -11 9.3 -2.1
DRW WisdomTree Global ex-US Real Estate Fund 3.8 58 -9 10.6 -0.7
NFTY First Trust India NIFTY 50 Equal Weight ETF 3.8 80 -31 7.3 -4.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 3.7 32 17 8.9 -2.4
ILF iShares Latin America 40 ETF 3.6 48 1 6.8 -4.6
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 3.6 80 -31 17.9 +6.6
FLN First Trust Latin America AlphaDEX Fund 3.6 80 -31 7.5 -3.8
NXTG First Trust Indxx NextG ETF 3.4 70 -21 5.9 -5.5

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 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 12.2 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 11.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.