SPDR MSCI Emerging Markets Fossil Fuel Free ETF
ALTAR
Score™
7.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.5x P/Sales
ratio
1.4x
P/BV
ratio
1.6x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF tracks a subset of the MSCI Emerging Markets Index that excludes companies that own fossil fuel reserves.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor SSGA
Website www.spdrs.com
Inception date Oct 24, 2016
Assets (mns) $96
Currency USD
Expense ratio 30 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 525
Wgt avg mkt cap (mns) $170,885
Large cap (>$10bn) 76.0%
Mid cap ($2-10bn) 21.9%
Small cap (<$2bn) 0.7%
Developed mkts 8.9%
Emerging mkts 88.3%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 8.8 %
TENCENT HOLDINGS LTD 6.5 %
TAIWAN SEMICONDUCTOR MANUFAC 6.3 %
SAMSUNG ELECTRONICS CO LTD 4.2 %
MEITUAN DIANPING 1.9 %
NASPERS LTD-N SHS 1.4 %
JD.COM INC-ADR 1.1 %
PING AN INSURANCE GROUP CO-H 1.1 %
CHINA CONSTRUCTION BANK-H 1.1 %
INFOSYS TECHNOLOGIES LTD 0.8 %
Total 33.1 %

TOP COUNTRY EXPOSURE
CHINA 39.0 %
TAIWAN 13.9 %
SOUTH KOREA 12.6 %
INDIA 7.2 %
HONG KONG 4.2 %
BRAZIL 3.8 %
SOUTH AFRICA 3.6 %
SAUDI ARABIA 2.8 %
MALAYSIA 1.9 %
MEXICO 1.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
1.2% 13.4% -- -- 7.2%

Market Correlations
versus... Beta R-squared
S&P500 0.83 61%
MSCI EAFE 1.01 74%
MSCI Emg. Mkts. 0.91 94%

Technical Indicators
Recent close $66.02
30d moving avg. $66.15
Annualized volatility 18.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $16,545

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SPDR MSCI Emerging Markets Fossil Fuel Free ETF ETF based on the alternatives' overlap in portfolio holdings with EEMX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EEMX Expense: 30 bp ALTAR Score™: 7.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEMX
Ticker Fund
Name
Overlap1
vs EEMX
(%)
Expense
ratio
(bp)
Savings
vs EEMX
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEMX
(%)
EEM iShares MSCI Emerging Markets ETF 73.4 68 -38 7.6 -0.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 72.4 65 -35 7.6 -0.3
EEMA iShares MSCI Emerging Markets Asia ETF 70.3 50 -20 8.0 +0.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 68.3 68 -38 7.2 -0.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 67.4 36 -6 7.5 -0.4
IEMG iShares Core MSCI Emerging Markets ETF 66.5 13 17 8.1 +0.2
SCHE Schwab Emerging Markets Equity ETF 66.4 11 19 8.1 +0.2
JHEM John Hancock Multifactor Emerging Markets ETF 66.0 49 -19 9.0 +1.1
FLAX Franklin FTSE Asia Ex Japan ETF 65.9 19 11 7.8 -0.1
ESGE iShares ESG MSCI EM ETF 63.5 25 5 8.8 +0.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 62.2 45 -15 7.7 -0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 61.8 32 -2 5.9 -2.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 60.6 15 15 8.7 +0.8
VWO Vanguard FTSE Emerging Markets ETF 58.8 10 20 8.2 +0.3
BKEM BNY Mellon Emerging Markets Equity ETF 58.2 11 19 8.4 +0.5
SPEM SPDR Portfolio Emerging Markets ETF 57.0 11 19 8.0 +0.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 54.1 20 10 6.9 -1.0
GMF SPDR S&P Emerging Asia Pacific ETF 51.5 49 -19 7.3 -0.6
DVEM WisdomTree Emerging Markets Dividend Fund 50.7 32 -2 7.4 -0.5
BKF iShares MSCI BRIC ETF 49.7 69 -39 7.7 -0.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 44.7 30 0 9.0 +1.0
EMXC iShares MSCI Emerging Markets ex China ETF 44.2 25 5 8.3 +0.4
EEMO Invesco S&P Emerging Markets Momentum ETF 43.4 29 1 4.1 -3.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 43.4 49 -19 7.9 -0.0
PXH Invesco FTSE RAFI Emerging Markets ETF 42.5 50 -20 13.7 +5.8
NUEM Nuveen ESG Emerging Markets Equity ETF 42.4 45 -15 7.1 -0.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 41.1 59 -29 11.3 +3.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 41.1 40 -10 7.4 -0.5
GXC SPDR S&P China ETF 40.5 59 -29 8.0 +0.1
MCHI iShares MSCI China ETF 40.4 59 -29 7.9 +0.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 40.1 49 -19 8.1 +0.2
AVEM Avantis Emerging Markets Equity ETF 40.1 33 -3 9.1 +1.2
FLCH Franklin FTSE China ETF 39.5 19 11 8.5 +0.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 37.9 95 -65 8.2 +0.3
KALL KraneShares FTSE Emerging Markets Plus ETF 37.8 49 -19 8.2 +0.3
CN Xtrackers MSCI All China Equity ETF 36.8 50 -20 8.3 +0.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 35.4 39 -9 13.8 +5.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 34.5 45 -15 8.7 +0.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 33.7 32 -2 9.3 +1.4
ISEM Invesco Strategic Emerging Markets ETF 31.7 35 -5 10.9 +3.0
AIA iShares Asia 50 ETF 31.6 50 -20 8.1 +0.2
CHIL Global X MSCI China Large-Cap 50 ETF 31.1 29 1 7.9 -0.0
CXSE WisdomTree China ex-State-Owned Enterprises Fund 31.1 32 -2 5.8 -2.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 30.6 25 5 8.1 +0.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 28.9 44 -14 9.3 +1.4
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 28.8 50 -20 10.2 +2.2
EMMF WisdomTree Emerging Markets Multifactor Fund 27.2 48 -18 9.7 +1.8
RNEM Emerging Markets Equity Select ETF 25.7 75 -45 12.0 +4.1
ROAM Hartford Multifactor Emerging Markets ETF 25.0 44 -14 13.4 +5.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 24.8 16 14 6.9 -1.1
VSGX Vanguard ESG International Stock ETF 24.4 17 13 7.1 -0.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 24.4 45 -15 9.3 +1.4
XCEM Columbia EM Core ex-China ETF 24.2 16 14 7.3 -0.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 23.3 86 -56 2.3 -5.7
FDNI First Trust Dow Jones International Internet ETF 22.9 65 -35 2.1 -5.9
ECON Columbia Emerging Markets Consumer ETF 22.6 59 -29 5.0 -2.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 21.8 40 -10 7.1 -0.8
KWEB KraneShares CSI China Internet ETF 21.8 76 -46 2.1 -5.8
ACWX iShares MSCI ACWI ex U.S. ETF 20.6 32 -2 7.3 -0.6
BICK First Trust BICK Index Fund 20.6 64 -34 4.9 -3.0
IXUS ishares Core MSCI Total International Stock ETF 19.5 9 21 7.4 -0.5
VYMI Vanguard International High Dividend Yield ETF 19.3 27 3 10.2 +2.3
TTTN UP Fintech China-U.S. Internet Titans ETF 19.3 59 -29 4.4 -3.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 18.8 29 1 10.1 +2.1
VEU Vanguard FTSE All-World ex-US Index Fund 18.6 8 22 7.6 -0.3
VXUS Vanguard Total International Stock Index Fund 18.2 8 22 7.6 -0.3
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 18.0 45 -15 14.8 +6.9
CWI SPDR MSCI ACWI ex-US ETF 17.6 30 0 7.3 -0.7
PIE Invesco DWA Emerging Markets Momentum ETF 17.5 90 -60 5.2 -2.7
FXI iShares China Large-Cap ETF 17.0 74 -44 13.9 +6.0
CHIQ Global X China Consumer ETF 16.0 65 -35 7.2 -0.7
OGIG O'Shares Global Internet Giants ETF 14.1 48 -18 0.6 -7.3
FLTW Franklin FTSE Taiwan ETF 13.9 19 11 6.3 -1.6
EWT iShares MSCI Taiwan ETF 13.9 59 -29 6.2 -1.7
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 13.8 18 12 5.2 -2.8
PEK VanEck Vectors ChinaAMC CSI 300 ETF 13.7 60 -30 4.0 -3.9
FRDM Freedom 100 Emerging Markets ETF 13.6 49 -19 6.7 -1.2
DINT Davis Select International ETF 13.3 68 -38 6.0 -1.9
FNI First Trust Chindia ETF 13.1 60 -30 2.6 -5.3
PGJ Invesco Golden Dragon China ETF 12.8 70 -40 3.5 -4.4
WUGI Esoterica NextG Economy ETF 12.8 75 -45 1.6 -6.3
VIGI Vanguard International Dividend Appreciation ETF 12.5 20 10 5.6 -2.3
FLKR Franklin FTSE South Korea ETF 12.5 9 21 8.9 +1.0
GBUY Goldman Sachs Motif New Age Consumer ETF 12.1 50 -20 1.8 -6.1
EWY iShares MSCI South Korea ETF 12.1 59 -29 8.6 +0.7
AIQ Global X Future Analytics Tech ETF 12.0 68 -38 4.1 -3.8
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 11.6 20 10 11.6 +3.7
DEM WisdomTree Emerging Markets High Dividend Fund 11.6 63 -33 15.4 +7.5
DWLD Davis Select Worldwide ETF 11.5 63 -33 6.7 -1.2
PNQI Invesco NASDAQ Internet ETF 11.2 60 -30 1.0 -6.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 10.6 60 -30 4.6 -3.4
EMFM Global X MSCI Next Emerging & Frontier ETF 10.4 66 -36 9.2 +1.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.3 60 -30 9.1 +1.2
BUYZ Franklin Disruptive Commerce ETF 10.2 50 -20 -0.2 -8.1
CQQQ Invesco China Technology ETF 10.2 70 -40 6.4 -1.5
JOYY Infusive Compounding Global Equities ETF 10.1 50 -20 5.0 -2.9
GIGE SoFi Gig Economy ETF 9.9 59 -29 -0.7 -8.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.6 20 10 6.3 -1.7

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 MSCI Emerging Markets Fossil Fuel Free 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 12.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 7.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.43
 
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.