SPDR Portfolio Europe ETF
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.3x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
DJ STOXX 50 Fund is an exchange-traded fund which represents a passive management strategy designed to track the performance of the Dow Jones STOXX 50 Index. The Dow Jones STOXX 50 Index represents the performance of the 50 largest companies, across all components of the 18 Dow Jones STOXX 600 market sector indices.

FUND BASICS
Category International Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Oct 15, 2002
Assets (mns) $136
Currency USD
Expense ratio 9 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1421
Wgt avg mkt cap (mns) $67,486
Large cap (>$10bn) 80.3%
Mid cap ($2-10bn) 15.8%
Small cap (<$2bn) 2.7%
Developed mkts 99.2%
Emerging mkts 0.6%

TOP TEN HOLDINGS
NESTLE SA-REG 3.3 %
ROCHE HOLDING AG-GENUSSCHEIN 2.3 %
NOVARTIS AG-REG 2.0 %
SAP AG 1.6 %
ASML HOLDING NV 1.6 %
ASTRAZENECA PLC 1.3 %
LVMH MOET HENNESSY LOUIS VUI 1.3 %
NOVO NORDISK A/S-B 1.2 %
SANOFI-AVENTIS 1.1 %
SIEMENS AG-REG 0.9 %
Total 16.6 %

TOP COUNTRY EXPOSURE
BRITAIN 19.8 %
SWITZERLAND 15.3 %
FRANCE 14.3 %
GERMANY 13.6 %
NETHERLANDS 7.1 %
SWEDEN 5.7 %
DENMARK 3.8 %
SPAIN 3.3 %
ITALY 3.3 %
FINLAND 2.3 %

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.
-8.1% 1.1% 4.1% 3.4% 5.2%

Market Correlations
versus... Beta R-squared
S&P500 0.84 76%
MSCI EAFE 1.03 94%
MSCI Emg. Mkts. 0.74 77%

Technical Indicators
Recent close $33.15
30d moving avg. $33.28
Annualized volatility 17.1%
Short interest (ETF) 0.1%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.6%
Bid/Ask (% of price) 0.46%
ADV underlying (mns) $29,903

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SPDR Portfolio Europe ETF ETF based on the alternatives' overlap in portfolio holdings with FEU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FEU Expense: 9 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FEU
Ticker Fund
Name
Overlap1
vs FEU
(%)
Expense
ratio
(bp)
Savings
vs FEU
(bp)
ALTAR
Score™
(%)
ALTAR
vs FEU
(%)
IEUR iShares Core MSCI Europe ETF 91.0 9 0 7.3 -0.1
VGK Vanguard FTSE Europe ETF 90.8 8 1 7.5 +0.1
FLEE Franklin FTSE Europe ETF 85.9 9 0 7.1 -0.3
FLEH Franklin FTSE Europe Hedged ETF 85.9 9 0 7.2 -0.2
BBEU JPMorgan BetaBuilders Europe ETF 83.9 9 0 7.4 +0.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 82.0 45 -36 6.8 -0.6
IEV iShares Europe ETF 80.3 59 -50 6.9 -0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 66.2 25 -16 6.5 -1.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 61.5 20 -11 7.1 -0.3
EFA iShares MSCI EAFE ETF 61.1 32 -23 7.1 -0.4
IQSI IQ Candriam ESG International Equity ETF 60.6 15 -6 7.4 +0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 59.8 35 -26 7.0 -0.4
IEFA iShares Core MSCI EAFE ETF 58.6 7 2 7.3 -0.1
GSID Goldman Sachs MarketBeta International Equity ETF 58.3 20 -11 7.3 -0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 56.9 20 -11 7.5 +0.1
ESGD iShares MSCI EAFE ESG Optimized ETF 55.9 20 -11 6.9 -0.5
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 55.7 7 2 7.5 +0.1
BKIE BNY Mellon International Equity ETF 53.2 4 5 7.5 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 52.7 5 4 7.2 -0.2
SCHF Schwab International Equity ETF 51.9 6 3 7.3 -0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 50.5 30 -21 6.8 -0.6
JHMD John Hancock Multifactor Developed International ETF 49.8 39 -30 7.3 -0.1
VEA Vanguard FTSE Developed Markets ETF 49.1 5 4 7.4 -0.0
SPDW SPDR Portfolio Developed World ex-US ETF 48.4 4 5 7.1 -0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 48.2 45 -36 8.9 +1.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 46.6 45 -36 6.8 -0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 46.6 35 -26 8.7 +1.3
DWM WisdomTree International Equity Fund 46.5 48 -39 8.5 +1.1
DOL WisdomTree International LargeCap Dividend Fund 46.3 48 -39 8.9 +1.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 44.3 25 -16 6.6 -0.8
EFG iShares MSCI EAFE Growth ETF 43.8 40 -31 4.5 -2.9
EZU iShares MSCI Eurozone ETF 43.3 49 -40 6.6 -0.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 43.1 39 -30 6.5 -0.9
SCID Global X Scientific Beta Europe ETF 43.0 39 -30 0.0 -7.4
FNDF Schwab Fundamental International Large Co. Index ETF 42.9 25 -16 8.8 +1.4
EURZ Xtrackers Eurozone Equity ETF 42.7 9 0 7.1 -0.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 42.5 35 -26 6.8 -0.6
PDEV Principal International Multi-Factor Core Index ETF 42.2 25 -16 8.0 +0.6
EFV iShares MSCI EAFE Value ETF 41.8 39 -30 9.8 +2.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 41.2 14 -5 6.9 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 38.9 32 -23 7.2 -0.2
CWI SPDR MSCI ACWI ex-US ETF 38.8 30 -21 7.2 -0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 38.1 40 -31 7.1 -0.4
IXUS ishares Core MSCI Total International Stock ETF 37.9 9 0 7.3 -0.1
VSGX Vanguard ESG International Stock ETF 37.7 17 -8 7.0 -0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 37.5 48 -39 6.9 -0.5
AVDE Avantis International Equity ETF 37.5 23 -14 7.6 +0.2
VEU Vanguard FTSE All-World ex-US Index Fund 37.3 8 1 7.5 +0.1
DMXF iShares ESG Advanced MSCI EAFE ETF 37.1 12 -3 6.9 -0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 36.9 39 -30 8.3 +0.9
RESD WisdomTree International ESG Fund 36.6 30 -21 6.8 -0.6
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 36.6 45 -36 6.9 -0.5
CIL VictoryShares International Volatility Weighted Index ETF 36.5 45 -36 6.9 -0.5
ISDX Invesco Strategic Developed ex-US ETF 36.4 23 -14 7.4 0.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 36.2 16 -7 6.9 -0.5
IDY Pacific Global International Equity Income ETF 36.0 39 -30 8.2 +0.8
IQIN IQ 500 International ETF 35.8 25 -16 8.7 +1.3
IQLT iShares Edge MSCI Intl Quality Factor ETF 35.3 30 -21 6.0 -1.4
VXUS Vanguard Total International Stock Index Fund 33.6 8 1 7.5 +0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 33.5 30 -21 7.1 -0.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 33.3 30 -21 4.4 -3.0
RNDM Developed International Equity Select ETF 33.0 65 -56 6.2 -1.2
VYMI Vanguard International High Dividend Yield ETF 31.9 27 -18 10.2 +2.8
EUDG WisdomTree Europe Quality Dividend Growth Fund 28.5 58 -49 6.0 -1.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.1 29 -20 7.8 +0.4
RFEU First Trust Riverfront Dynamic Europe ETF 27.6 83 -74 5.8 -1.6
NUDM Nuveen ESG International Developed Markets Equity ETF 27.5 40 -31 6.8 -0.6
IGRO iShares International Dividend Growth ETF 26.7 22 -13 8.4 +1.0
RBIN Nationwide Risk-Based International Equity ETF 26.1 42 -33 6.1 -1.3
FDEV Fidelity Targeted International Factor ETF 26.0 39 -30 6.5 -0.9
FEZ SPDR EURO STOXX 50 ETF 26.0 29 -20 6.9 -0.5
VIGI Vanguard International Dividend Appreciation ETF 25.6 20 -11 5.5 -1.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.5 20 -11 5.4 -2.0
TPIF Timothy Plan International ETF 25.4 62 -53 6.3 -1.1
VGFO Virtus WMC Global Factor Opportunities ETF 25.3 49 -40 8.2 +0.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 25.2 42 -33 5.1 -2.3
RFDI First Trust Riverfront Dynamic Developed International ETF 25.2 83 -74 5.7 -1.8
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 25.1 24 -15 6.9 -0.5
FIVA Fidelity International Value Factor ETF 25.0 39 -30 10.0 +2.6
DTH WisdomTree DEFA Equity Income Fund 24.8 58 -49 10.1 +2.7
QINT American Century Quality Diversified International ETF 23.7 39 -30 6.1 -1.3
IDHQ Invesco S&P International Developed Quality ETF 23.6 29 -20 5.1 -2.4
JPIN JPMorgan Diversified Return International Equity ETF 21.8 37 -28 7.8 +0.4
IVLU iShares Edge MSCI Intl Value Factor ETF 21.5 30 -21 11.7 +4.3
IDMO Invesco S&P International Developed Momentum ETF 21.4 26 -17 4.0 -3.4
IOO iShares Global 100 ETF 21.2 40 -31 4.7 -2.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 21.1 29 -20 7.7 +0.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 20.7 32 -23 6.1 -1.4
HEDJ WisdomTree Europe Hedged Equity Fund 20.5 58 -49 6.9 -0.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 20.4 45 -36 6.5 -0.9
TOK iShares MSCI Kokusai ETF 20.1 25 -16 5.4 -2.0
QWLD SPDR MSCI World StrategicFactors ETF 19.8 30 -21 6.0 -1.4
KOKU Xtrackers MSCI Kokusai Equity ETF 19.6 9 0 5.5 -1.9
FEP First Trust Europe AlphaDEX Fund 19.4 80 -71 7.2 -0.2
DOO WisdomTree International Dividend ex-Financials Fund 18.8 58 -49 9.0 +1.6
URTH iShares MSCI World ETF 18.6 24 -15 5.5 -1.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 18.5 80 -71 6.6 -0.8
FLGB Franklin FTSE United Kingdom ETF 18.2 9 0 8.0 +0.6

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 Portfolio Europe 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 10.5 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.