SPDR MSCI EAFE Fossil Fuel Free ETF
ALTAR
Score™
9.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
13.1x P/Sales
ratio
1.1x
P/BV
ratio
1.2x Div.
yield
3.9%


  • 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) $86
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 871
Wgt avg mkt cap (mns) $57,296
Large cap (>$10bn) 80.2%
Mid cap ($2-10bn) 19.0%
Small cap (<$2bn) 0.4%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
NESTLE SA-REG 3.1 %
ROCHE HOLDING AG-GENUSSCHEIN 2.3 %
NOVARTIS AG-REG 1.8 %
TOYOTA MOTOR CORP 1.3 %
ASTRAZENECA PLC 1.1 %
AIA GROUP LTD 1.1 %
NOVO NORDISK A/S-B 1.1 %
ASML HOLDING NV 1.0 %
SAP AG 1.0 %
SANOFI-AVENTIS 1.0 %
Total 14.8 %

TOP COUNTRY EXPOSURE
JAPAN 26.5 %
BRITAIN 12.8 %
SWITZERLAND 12.1 %
FRANCE 9.7 %
GERMANY 8.4 %
AUSTRALIA 5.5 %
NETHERLANDS 4.9 %
HONG KONG 3.3 %
SWEDEN 2.7 %
SPAIN 2.5 %

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.
-22.7% -13.3% -- -- 0.5%

Market Correlations
versus... Beta R-squared
S&P500 0.88 83%
MSCI EAFE 0.98 98%
MSCI Emg. Mkts. 0.75 84%

Technical Indicators
Recent close $53.62
30d moving avg. $59.18
Annualized volatility 14.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.9%
Bid/Ask (% of price) 0.87%
ADV underlying (mns) $48,906

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™: 9.1%


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 90.1 32 -12 9.0 -0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 85.9 35 -15 8.8 -0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 81.6 20 0 9.5 +0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 80.0 7 13 9.6 +0.5
IEFA iShares Core MSCI EAFE ETF 78.1 7 13 9.3 +0.2
SCHF Schwab International Equity ETF 74.0 6 14 9.4 +0.3
IQSI IQ Candriam ESG International Equity ETF 71.8 15 5 9.2 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 70.3 5 15 9.3 +0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 68.9 20 0 9.1 +0.0
SPDW SPDR Portfolio Developed World ex-US ETF 68.8 4 16 9.2 +0.1
JHMD John Hancock Multifactor Developed International ETF 66.3 45 -25 9.4 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 65.2 30 -10 8.2 -0.9
VEA Vanguard FTSE Developed Markets ETF 65.1 5 15 9.5 +0.5
DWM WisdomTree International Equity Fund 60.9 48 -28 10.7 +1.6
IEUR iShares Core MSCI Europe ETF 60.8 9 11 9.2 +0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 60.6 25 -5 8.6 -0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 60.5 45 -25 8.4 -0.7
FEU SPDR Portfolio Europe ETF 60.4 9 11 9.2 +0.1
EFG iShares MSCI EAFE Growth ETF 60.3 40 -20 5.9 -3.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 60.3 45 -25 11.5 +2.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 60.2 35 -15 11.0 +1.9
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 60.0 30 -10 8.6 -0.5
FLEE Franklin FTSE Europe ETF 59.9 9 11 8.8 -0.3
FLEH Franklin FTSE Europe Hedged ETF 59.9 9 11 8.8 -0.3
ACWX iShares MSCI ACWI ex U.S. ETF 59.6 32 -12 9.4 +0.3
BBEU JPMorgan BetaBuilders Europe ETF 59.1 9 11 9.1 +0.0
VGK Vanguard FTSE Europe ETF 58.6 8 12 9.3 +0.3
IEV iShares Europe ETF 58.0 59 -39 8.6 -0.4
FNDF Schwab Fundamental International Large Co. Index ETF 57.7 25 -5 11.2 +2.2
PDEV Principal International Multi-Factor Core Index ETF 57.6 25 -5 8.5 -0.6
DOL WisdomTree International LargeCap Dividend Fund 57.5 48 -28 10.8 +1.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 56.8 40 -20 9.2 +0.1
CWI SPDR MSCI ACWI ex-US ETF 56.7 30 -10 9.4 +0.3
VEU Vanguard FTSE All-World ex-US Index Fund 55.3 8 12 9.7 +0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 54.5 25 -5 8.4 -0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 54.5 39 -19 8.6 -0.5
VSGX Vanguard ESG International Stock ETF 54.4 17 3 9.2 +0.1
IXUS ishares Core MSCI Total International Stock ETF 51.9 9 11 9.5 +0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 51.3 14 6 8.7 -0.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 51.2 16 4 8.8 -0.3
VXUS Vanguard Total International Stock Index Fund 50.1 8 12 9.7 +0.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 49.8 39 -19 11.9 +2.8
ISZE iShares Edge MSCI Intl Size Factor ETF 49.3 30 -10 9.2 +0.1
IDY Pacific Global International Equity Income ETF 47.5 39 -19 11.0 +1.9
IQIN IQ 500 International ETF 47.1 25 -5 11.3 +2.3
CIL Victory CEMP International Volatility Weighted Index ETF 46.4 45 -25 9.3 +0.2
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 46.2 48 -28 0.0 -9.1
EFV iShares MSCI EAFE Value ETF 45.2 39 -19 12.7 +3.6
ISDX Invesco Strategic Developed ex-US ETF 43.0 23 -3 10.0 +1.0
RFDI First Trust Riverfront Dynamic Developed International ETF 42.5 83 -63 8.1 -1.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 39.8 30 -10 7.5 -1.5
AVDE Avantis International Equity ETF 38.7 23 -3 10.3 +1.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 37.9 29 -9 10.4 +1.3
VYMI Vanguard International High Dividend Yield ETF 37.7 32 -12 12.4 +3.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 37.0 30 -10 8.1 -0.9
IPAC iShares Core MSCI Pacific ETF 36.3 9 11 9.5 +0.4
VPL Vanguard FTSE Pacific ETF 36.1 8 12 9.9 +0.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 35.9 20 0 6.7 -2.4
RNDM Developed International Equity Select ETF 35.7 65 -45 8.2 -0.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 35.0 24 -4 9.3 +0.2
RBIN Nationwide Risk-Based International Equity ETF 34.4 42 -22 8.4 -0.7
TPIF Timothy Plan International ETF 34.3 62 -42 8.9 -0.2
JPEU JPMorgan Diversified Return Europe Equity ETF 32.7 37 -17 8.8 -0.3
QINT American Century Quality Diversified International ETF 32.1 39 -19 7.6 -1.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.1 42 -22 7.3 -1.8
SCID Global X Scientific Beta Europe ETF 31.6 38 -18 9.0 -0.1
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 31.3 45 -25 9.3 +0.2
EUMV iShares Edge MSCI Min Vol Europe ETF 31.2 25 -5 6.4 -2.7
IGRO iShares International Dividend Growth ETF 31.2 22 -2 9.9 +0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 31.1 40 -20 8.6 -0.5
FDEV Fidelity Targeted International Factor ETF 30.9 39 -19 7.8 -1.3
RFEU First Trust Riverfront Dynamic Europe ETF 30.6 83 -63 6.4 -2.7
DTH WisdomTree DEFA Equity Income Fund 30.5 58 -38 12.5 +3.4
EZU iShares MSCI Eurozone ETF 30.2 49 -29 8.9 -0.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 30.0 45 -25 8.8 -0.2
URTH iShares MSCI World ETF 29.2 24 -4 7.6 -1.5
QWLD SPDR MSCI World StrategicFactors ETF 29.1 30 -10 7.5 -1.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 28.9 45 -25 8.8 -0.3
IDHQ Invesco S&P International Developed High Quality ETF 28.7 29 -9 6.7 -2.4
EURZ Xtrackers Eurozone Equity ETF 28.7 9 11 9.2 +0.1
IVLU iShares Edge MSCI Intl Value Factor ETF 27.4 30 -10 14.3 +5.2
IDMO Invesco S&P International Developed Momentum ETF 27.3 25 -5 5.7 -3.3
OEUR O'shares FTSE Europe Quality Dividend ETF 27.2 48 -28 7.7 -1.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 26.6 35 -15 10.8 +1.8
EWJ iShares MSCI Japan ETF 26.5 49 -29 9.6 +0.5
FIVA Fidelity International Value Factor ETF 26.4 39 -19 13.3 +4.2
BBJP JPMorgan BetaBuilders Japan ETF 26.4 19 1 9.9 +0.8
JPGE JPMorgan Diversified Return Global Equity ETF 26.4 29 -9 9.3 +0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 26.3 45 -25 9.7 +0.6
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 26.3 25 -5 9.7 +0.6
JPIN JPMorgan Diversified Return International Equity ETF 26.2 38 -18 9.9 +0.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.1 29 -9 10.8 +1.7
LOWC SPDR MSCI ACWI Low Carbon Target ETF 26.1 20 0 8.2 -0.9
FLJP Franklin FTSE Japan ETF 26.1 9 11 10.1 +1.0
FLJH Franklin FTSE Japan Hedged ETF 26.1 9 11 10.1 +1.0
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 26.1 30 -10 9.9 +0.8
QJPN SPDR MSCI Japan StrategicFactors ETF 25.8 14 6 10.2 +1.1
ACWI iShares MSCI ACWI ETF 25.7 32 -12 7.8 -1.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 25.6 32 -12 7.6 -1.5

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 EAFE Fossil Fuel Free ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.9 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 9.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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