SPDR MSCI EAFE Fossil Fuel Free ETF
ALTAR
Score™
7.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
1.4x
P/BV
ratio
1.5x Div.
yield
2.7%


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

FUND BASICS
Category International Equities
Fund Sponsor SSGA
Website www.spdrs.com
Inception date Oct 24, 2016
Assets (mns) $115
Currency USD
Expense ratio 20 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 858
Wgt avg mkt cap (mns) $61,948
Large cap (>$10bn) 82.9%
Mid cap ($2-10bn) 16.6%
Small cap (<$2bn) 0.1%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
NESTLE SA-REG 2.7 %
ROCHE HOLDING AG-GENUSSCHEIN 2.0 %
NOVARTIS AG-REG 1.5 %
ASML HOLDING NV 1.3 %
SAP AG 1.3 %
ASTRAZENECA PLC 1.1 %
TOYOTA MOTOR CORP 1.0 %
LVMH MOET HENNESSY LOUIS VUI 1.0 %
AIA GROUP LTD 0.9 %
NOVO NORDISK A/S-B 0.9 %
Total 13.8 %

TOP COUNTRY EXPOSURE
JAPAN 24.8 %
BRITAIN 12.1 %
SWITZERLAND 11.2 %
FRANCE 9.9 %
GERMANY 9.4 %
AUSTRALIA 5.9 %
NETHERLANDS 5.2 %
SWEDEN 3.0 %
HONG KONG 2.9 %
DENMARK 2.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.6% -2.5% -- -- 4.8%

Market Correlations
versus... Beta R-squared
S&P500 0.84 84%
MSCI EAFE 0.97 99%
MSCI Emg. Mkts. 0.71 83%

Technical Indicators
Recent close $65.85
30d moving avg. $65.38
Annualized volatility 15.5%
Short interest (ETF) 0.1%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $88,011

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR MSCI EAFE Fossil Fuel Free ETF ETF based on the alternatives' overlap in portfolio holdings with EFAX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EFAX Expense: 20 bp ALTAR Score™: 7.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EFAX
Ticker Fund
Name
Overlap1
vs EFAX
(%)
Expense
ratio
(bp)
Savings
vs EFAX
(bp)
ALTAR
Score™
(%)
ALTAR
vs EFAX
(%)
EFA iShares MSCI EAFE ETF 90.2 32 -12 7.1 -0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 88.8 35 -15 6.9 -0.2
GSID Goldman Sachs MarketBeta International Equity ETF 84.2 20 0 7.4 +0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 82.0 20 0 7.5 +0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 79.9 7 13 7.6 +0.5
BKIE BNY Mellon International Equity ETF 78.2 4 16 7.5 +0.4
IEFA iShares Core MSCI EAFE ETF 77.8 7 13 7.4 +0.2
SCHF Schwab International Equity ETF 74.4 6 14 7.4 +0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 72.2 20 0 7.0 -0.2
IDEV iShares Core MSCI International Developed Markets ETF 69.5 5 15 7.3 +0.2
IQSI IQ Candriam ESG International Equity ETF 68.8 15 5 7.3 +0.2
SPDW SPDR Portfolio Developed World ex-US ETF 67.8 4 16 7.2 +0.1
JHMD John Hancock Multifactor Developed International ETF 66.7 39 -19 7.5 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 66.0 30 -10 6.9 -0.2
VEA Vanguard FTSE Developed Markets ETF 65.7 5 15 7.5 +0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 62.4 35 -15 6.8 -0.3
IEUR iShares Core MSCI Europe ETF 61.2 9 11 7.3 +0.1
FEU SPDR Portfolio Europe ETF 61.0 9 11 7.4 +0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 60.7 45 -25 6.7 -0.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 60.5 30 -10 6.8 -0.3
FLEH Franklin FTSE Europe Hedged ETF 60.3 9 11 7.1 +0.0
FLEE Franklin FTSE Europe ETF 60.3 9 11 7.0 -0.1
VGK Vanguard FTSE Europe ETF 59.9 8 12 7.4 +0.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 59.7 25 -5 6.6 -0.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 59.1 45 -25 9.0 +1.8
BBEU JPMorgan BetaBuilders Europe ETF 58.8 9 11 7.3 +0.2
IEV iShares Europe ETF 58.3 59 -39 6.8 -0.3
ACWX iShares MSCI ACWI ex U.S. ETF 58.0 32 -12 7.3 +0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 57.2 40 -20 7.1 -0.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 57.0 35 -15 8.6 +1.5
DWM WisdomTree International Equity Fund 57.0 48 -28 8.3 +1.2
FNDF Schwab Fundamental International Large Co. Index ETF 55.7 25 -5 8.9 +1.8
CWI SPDR MSCI ACWI ex-US ETF 55.4 30 -10 7.2 +0.1
EFG iShares MSCI EAFE Growth ETF 55.1 40 -20 4.6 -2.6
PDEV Principal International Multi-Factor Core Index ETF 55.0 25 -5 8.0 +0.9
VEU Vanguard FTSE All-World ex-US Index Fund 54.7 8 12 7.6 +0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 53.5 25 -5 6.5 -0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 53.5 39 -19 6.7 -0.4
DOL WisdomTree International LargeCap Dividend Fund 52.7 48 -28 8.6 +1.5
VSGX Vanguard ESG International Stock ETF 51.8 17 3 7.2 +0.1
IXUS ishares Core MSCI Total International Stock ETF 50.4 9 11 7.4 +0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 50.0 14 6 7.0 -0.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 49.6 16 4 6.9 -0.2
ISZE iShares Edge MSCI Intl Size Factor ETF 49.3 30 -10 7.5 +0.3
VXUS Vanguard Total International Stock Index Fund 49.2 8 12 7.6 +0.5
EFV iShares MSCI EAFE Value ETF 48.1 39 -19 9.6 +2.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 47.6 39 -19 8.5 +1.4
CIL VictoryShares International Volatility Weighted Index ETF 47.1 45 -25 6.8 -0.4
ISDX Invesco Strategic Developed ex-US ETF 42.6 23 -3 7.6 +0.5
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 42.5 30 -10 0.0 -7.1
IQIN IQ 500 International ETF 41.9 25 -5 9.0 +1.9
IDY Pacific Global International Equity Income ETF 41.0 39 -19 8.1 +1.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 39.3 30 -10 6.1 -1.1
AVDE Avantis International Equity ETF 38.9 23 -3 8.0 +0.8
IMTM iShares Edge MSCI Intl Momentum Factor ETF 38.5 30 -10 4.3 -2.8
PQIN PGIM QMA Strategic Alpha International Equity ETF 38.0 29 -9 7.7 +0.6
VYMI Vanguard International High Dividend Yield ETF 36.4 32 -12 10.2 +3.1
RNDM Developed International Equity Select ETF 35.8 65 -45 6.4 -0.7
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 35.4 24 -4 7.3 +0.2
VPL Vanguard FTSE Pacific ETF 34.9 8 12 7.8 +0.7
IPAC iShares Core MSCI Pacific ETF 34.8 9 11 7.4 +0.3
TPIF Timothy Plan International ETF 34.6 62 -42 6.4 -0.7
EFAV iShares Edge MSCI Min Vol EAFE ETF 34.4 20 0 5.5 -1.6
JPEU JPMorgan Diversified Return Europe Equity ETF 33.9 37 -17 7.0 -0.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 33.5 45 -25 6.9 -0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 32.9 83 -63 5.7 -1.4
QINT American Century Quality Diversified International ETF 32.0 39 -19 5.8 -1.4
SCID Global X Scientific Beta Europe ETF 32.0 39 -19 6.5 -0.6
EZU iShares MSCI Eurozone ETF 31.7 49 -29 6.6 -0.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 31.4 45 -25 6.8 -0.3
RBIN Nationwide Risk-Based International Equity ETF 31.2 42 -22 6.5 -0.7
ESGG FlexShares STOXX Global ESG Impact Index Fund 31.2 42 -22 5.4 -1.7
QWLD SPDR MSCI World StrategicFactors ETF 30.7 30 -10 6.2 -1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 30.6 40 -20 7.0 -0.1
EURZ Xtrackers Eurozone Equity ETF 30.1 9 11 7.1 -0.1
FDEV Fidelity Targeted International Factor ETF 29.6 39 -19 6.6 -0.6
IGRO iShares International Dividend Growth ETF 29.4 22 -2 8.1 +0.9
IDHQ Invesco S&P International Developed Quality ETF 29.0 29 -9 5.1 -2.0
EUMV iShares Edge MSCI Min Vol Europe ETF 28.9 25 -5 5.0 -2.1
IDLB Invesco FTSE International Low Beta Equal Weight ETF 28.5 45 -25 7.2 +0.0
URTH iShares MSCI World ETF 28.3 24 -4 5.7 -1.5
IVLU iShares Edge MSCI Intl Value Factor ETF 26.9 30 -10 11.5 +4.4
IDMO Invesco S&P International Developed Momentum ETF 26.0 26 -6 4.5 -2.6
JPGE JPMorgan Diversified Return Global Equity ETF 25.7 29 -9 7.5 +0.4
JPIN JPMorgan Diversified Return International Equity ETF 25.7 37 -17 8.1 +1.0
OEUR O'shares FTSE Europe Quality Dividend ETF 25.6 48 -28 6.6 -0.5
DTH WisdomTree DEFA Equity Income Fund 25.4 58 -38 9.8 +2.7
LOWC SPDR MSCI ACWI Low Carbon Target ETF 25.2 20 0 6.1 -1.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 25.0 20 0 6.1 -1.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 24.9 29 -9 8.8 +1.7
EWJ iShares MSCI Japan ETF 24.9 49 -29 7.2 +0.1
ACWI iShares MSCI ACWI ETF 24.9 32 -12 5.9 -1.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.8 45 -25 7.3 +0.2
BBJP JPMorgan BetaBuilders Japan ETF 24.7 19 1 7.6 +0.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 24.6 25 -5 7.3 +0.2
FLJH Franklin FTSE Japan Hedged ETF 24.5 9 11 7.8 +0.6
FLJP Franklin FTSE Japan ETF 24.5 9 11 7.7 +0.6
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 24.5 30 -10 7.5 +0.4
VIGI Vanguard International Dividend Appreciation ETF 24.4 25 -5 5.6 -1.6

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 EAFE 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 10.4 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.