SPDR MSCI Emerging Markets Fossil Fuel Free ETF
ALTAR
Score™
10.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.2x P/Sales
ratio
1.1x
P/BV
ratio
1.3x Div.
yield
3.5%


  • 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) $73
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 490
Wgt avg mkt cap (mns) $120,484
Large cap (>$10bn) 72.5%
Mid cap ($2-10bn) 26.0%
Small cap (<$2bn) 1.4%
Developed mkts 7.9%
Emerging mkts 89.6%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.5 %
TENCENT HOLDINGS LTD 6.5 %
TAIWAN SEMICONDUCTOR MANUFAC 5.2 %
SAMSUNG ELECTRONICS CO LTD 4.6 %
CHINA CONSTRUCTION BANK-H 1.9 %
NASPERS LTD-N SHS 1.4 %
PING AN INSURANCE GROUP CO-H 1.3 %
IND & COMM BK OF CHINA - H 1.1 %
CHINA MOBILE LIMITED 1.1 %
HYNIX SEMICONDUCTOR INC 0.9 %
Total 31.5 %

TOP COUNTRY EXPOSURE
CHINA 36.0 %
TAIWAN 13.5 %
SOUTH KOREA 12.5 %
INDIA 6.4 %
HONG KONG 5.3 %
BRAZIL 4.2 %
SOUTH AFRICA 3.6 %
SAUDI ARABIA 2.5 %
MEXICO 2.0 %
MALAYSIA 2.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.2% -16.2% -- -- 0.3%

Market Correlations
versus... Beta R-squared
S&P500 0.91 61%
MSCI EAFE 1.03 76%
MSCI Emg. Mkts. 0.96 97%

Technical Indicators
Recent close $52.03
30d moving avg. $54.35
Annualized volatility 17.7%
Short interest (ETF) 0.5%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.7%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $32,218

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 10.1%


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
(%)
EEMA iShares MSCI Emerging Markets Asia ETF 69.0 50 -20 9.9 -0.2
EEM iShares MSCI Emerging Markets ETF 68.6 68 -38 9.8 -0.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 68.1 65 -35 9.8 -0.3
JHEM John Hancock Multifactor Emerging Markets ETF 65.5 55 -25 10.5 +0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 63.2 68 -38 9.2 -0.9
SCHE Schwab Emerging Markets Equity ETF 62.8 13 17 10.1 +0.0
IEMG iShares Core MSCI Emerging Markets ETF 62.7 14 16 10.3 +0.2
FLAX Franklin FTSE Asia Ex Japan ETF 61.6 19 11 9.8 -0.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 59.7 45 -15 10.1 -0.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 57.7 32 -2 8.2 -1.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 55.1 14 16 11.0 +0.9
VWO Vanguard FTSE Emerging Markets ETF 54.8 10 20 10.2 +0.2
SPEM SPDR Portfolio Emerging Markets ETF 54.0 11 19 10.0 -0.1
ESGE iShares ESG MSCI EM ETF 53.8 25 5 11.3 +1.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 51.5 20 10 9.0 -1.1
GMF SPDR S&P Emerging Asia Pacific ETF 50.0 49 -19 9.2 -0.9
DVEM WisdomTree Emerging Markets Dividend Fund 48.2 32 -2 10.7 +0.6
BKF iShares MSCI BRIC ETF 47.2 69 -39 9.8 -0.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 44.6 49 -19 10.1 -0.0
EMXC iShares MSCI Emerging Markets ex China ETF 44.6 49 -19 10.1 -0.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 43.8 30 0 10.6 +0.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 43.6 59 -29 12.9 +2.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 42.8 95 -65 12.0 +1.9
PXH Invesco FTSE RAFI Emerging Markets ETF 41.0 50 -20 15.7 +5.6
NUEM Nuveen ESG Emerging Markets Equity ETF 39.4 45 -15 9.1 -1.0
MCHI iShares MSCI China ETF 38.7 59 -29 10.0 -0.1
GXC SPDR S&P China ETF 38.4 59 -29 9.9 -0.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 37.8 39 -9 15.0 +4.9
KALL KraneShares FTSE Emerging Markets Plus ETF 37.5 49 -19 9.9 -0.2
AVEM Avantis Emerging Markets Equity ETF 37.4 33 -3 11.3 +1.2
FLCH Franklin FTSE China ETF 36.9 19 11 10.2 +0.1
EMCG WisdomTree Emerging Markets Consumer Growth Fund 36.3 32 -2 8.9 -1.2
WCHN WisdomTree ICBCCS S&P China 500 Fund 35.9 55 -25 9.7 -0.4
CN Xtrackers MSCI All China Equity ETF 35.7 50 -20 10.2 +0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 33.6 32 -2 11.1 +1.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 33.6 49 -19 10.7 +0.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 33.5 40 -10 8.7 -1.4
AXJL WisdomTree Asia Pacific ex-Japan Fund 33.0 48 -18 10.6 +0.5
ISEM Invesco Strategic Emerging Markets ETF 32.9 35 -5 11.6 +1.5
AIA iShares Asia 50 ETF 31.0 50 -20 9.9 -0.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 30.4 45 -15 10.3 +0.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 29.6 45 -15 11.3 +1.2
CHIL Global X MSCI China Large-Cap 50 ETF 29.5 29 1 10.3 +0.3
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 28.7 50 -20 12.3 +2.2
ROAM Hartford Multifactor Emerging Markets ETF 28.2 44 -14 17.2 +7.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 27.4 25 5 9.6 -0.5
RNEM Emerging Markets Equity Select ETF 26.7 75 -45 11.4 +1.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 26.3 32 -2 8.0 -2.1
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 24.8 64 -34 7.6 -2.5
EMMF WisdomTree Emerging Markets Multifactor Fund 23.3 48 -18 11.6 +1.5
XCEM Columbia EM Core ex-China ETF 22.2 16 14 9.4 -0.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 21.7 16 14 8.5 -1.6
ECON Columbia Emerging Markets Consumer ETF 21.7 59 -29 5.6 -4.5
BICK First Trust BICK Index Fund 21.5 64 -34 6.1 -4.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 21.5 29 1 12.3 +2.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 21.1 45 -15 11.4 +1.3
VSGX Vanguard ESG International Stock ETF 19.8 17 13 8.8 -1.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 19.7 86 -56 3.3 -6.8
FDNI First Trust Dow Jones International Internet ETF 19.6 65 -35 4.0 -6.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 19.6 40 -10 8.9 -1.2
ACWX iShares MSCI ACWI ex U.S. ETF 18.6 32 -2 9.1 -1.0
FXI iShares China Large-Cap ETF 18.2 74 -44 14.3 +4.2
KWEB KraneShares CSI China Internet ETF 18.0 76 -46 4.3 -5.8
IXUS ishares Core MSCI Total International Stock ETF 17.7 9 21 9.2 -0.9
TTTN UP Fintech China-U.S. Internet Titans ETF 17.2 59 -29 6.0 -4.1
VXUS Vanguard Total International Stock Index Fund 17.0 8 22 9.4 -0.7
VEU Vanguard FTSE All-World ex-US Index Fund 16.9 8 22 9.4 -0.7
PIE Invesco DWA Emerging Markets Momentum ETF 16.5 90 -60 6.9 -3.2
JOYY Infusive Compounding Global Equities ETF 16.5 50 -20 4.8 -5.3
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 16.4 45 -15 15.8 +5.7
DEM WisdomTree Emerging Markets High Dividend Fund 16.2 63 -33 16.2 +6.1
VIGI Vanguard International Dividend Appreciation ETF 15.7 25 5 6.9 -3.2
VYMI Vanguard International High Dividend Yield ETF 15.6 32 -2 11.9 +1.9
CWI SPDR MSCI ACWI ex-US ETF 15.6 30 0 9.0 -1.1
FRDM Freedom 100 Emerging Markets ETF 14.1 49 -19 8.8 -1.3
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 13.7 80 -50 2.1 -8.0
FLTW Franklin FTSE Taiwan ETF 13.5 19 11 7.9 -2.2
EWT iShares MSCI Taiwan ETF 13.5 59 -29 7.5 -2.6
OGIG O'Shares Global Internet Giants ETF 13.5 48 -18 0.9 -9.2
DOGS Arrow Dogs of the World ETF 13.4 134 -104 13.6 +3.5
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 12.9 51 -21 13.5 +3.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 12.6 20 10 12.6 +2.5
FLKR Franklin FTSE South Korea ETF 12.5 9 21 12.1 +2.0
FNI First Trust Chindia ETF 12.5 59 -29 4.4 -5.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 12.2 60 -30 9.9 -0.2
PGJ Invesco Golden Dragon China ETF 12.1 70 -40 4.2 -5.9
CHIQ Global X China Consumer ETF 12.1 65 -35 11.7 +1.6
EWY iShares MSCI South Korea ETF 12.0 59 -29 11.5 +1.4
EEMO Invesco S&P Emerging Markets Momentum ETF 11.9 30 0 11.9 +1.8
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 11.6 18 12 7.0 -3.1
DINT Davis Select International ETF 11.5 75 -45 7.8 -2.3
BUYZ Franklin Disruptive Commerce ETF 11.5 50 -20 0.2 -9.9
EMFM Global X MSCI Next Emerging & Frontier ETF 11.5 55 -25 10.0 -0.1
AIQ Global X Future Analytics Tech ETF 11.3 68 -38 5.4 -4.7
GBUY Goldman Sachs Motif New Age Consumer ETF 11.0 50 -20 3.5 -6.6
PNQI Invesco NASDAQ Internet ETF 10.4 62 -32 3.0 -7.1
EDIV SPDR S&P Emerging Markets Dividend ETF 10.4 49 -19 13.0 +2.9
DWLD Davis Select Worldwide ETF 10.3 64 -34 8.7 -1.4
CHIC Global X Nasdaq China Technology ETF 9.8 65 -35 4.7 -5.4
ACWF iShares FactorSelect MSCI Global ETF 9.2 35 -5 9.6 -0.5

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 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 1.2 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.38 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.