SPDR Portfolio Europe ETF
ALTAR
Score™
7.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.9x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
3.0%


  • 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) $152
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 1440
Wgt avg mkt cap (mns) $64,720
Large cap (>$10bn) 78.5%
Mid cap ($2-10bn) 17.8%
Small cap (<$2bn) 3.2%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
NESTLE SA-REG 3.4 %
ROCHE HOLDING AG-GENUSSCHEIN 2.6 %
NOVARTIS AG-REG 2.2 %
ASTRAZENECA PLC 1.5 %
ASML HOLDING NV 1.5 %
SAP AG 1.5 %
NOVO NORDISK A/S-B 1.2 %
LVMH MOET HENNESSY LOUIS VUI 1.2 %
SANOFI-AVENTIS 1.2 %
GLAXOSMITHKLINE PLC 1.1 %
Total 17.3 %

TOP COUNTRY EXPOSURE
BRITAIN 21.6 %
SWITZERLAND 15.5 %
FRANCE 14.2 %
GERMANY 13.0 %
NETHERLANDS 6.6 %
SWEDEN 5.0 %
SPAIN 3.6 %
DENMARK 3.5 %
ITALY 3.3 %
FINLAND 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.9% -3.8% -0.4% 4.2% 4.8%

Market Correlations
versus... Beta R-squared
S&P500 0.85 75%
MSCI EAFE 1.02 93%
MSCI Emg. Mkts. 0.74 75%

Technical Indicators
Recent close $32.31
30d moving avg. $28.89
Annualized volatility 16.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 96
Turnover 2.0%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $41,484

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.3%


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 89.5 9 0 7.3 +0.0
VGK Vanguard FTSE Europe ETF 89.2 8 1 7.3 +0.0
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 85.8 30 -21 6.8 -0.4
FLEE Franklin FTSE Europe ETF 85.7 9 0 7.0 -0.3
FLEH Franklin FTSE Europe Hedged ETF 85.6 9 0 7.1 -0.2
BBEU JPMorgan BetaBuilders Europe ETF 82.8 9 0 7.2 -0.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 81.4 45 -36 6.7 -0.6
IEV iShares Europe ETF 79.9 59 -50 6.8 -0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 67.2 25 -16 6.7 -0.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 60.0 20 -11 7.2 -0.0
EFA iShares MSCI EAFE ETF 59.6 32 -23 7.1 -0.1
IQSI IQ Candriam ESG International Equity ETF 59.5 15 -6 7.3 +0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 58.5 35 -26 7.0 -0.3
IEFA iShares Core MSCI EAFE ETF 57.2 7 2 7.3 +0.0
HFXI IQ 50 Percent Hedged FTSE International ETF 56.0 20 -11 7.5 +0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 55.4 7 2 7.6 +0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 52.2 20 -11 7.2 -0.1
IDEV iShares Core MSCI International Developed Markets ETF 51.7 5 4 7.2 -0.0
SCHF Schwab International Equity ETF 51.5 6 3 7.4 +0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 49.2 30 -21 6.8 -0.5
JHMD John Hancock Multifactor Developed International ETF 48.5 45 -36 7.4 +0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 48.2 45 -36 8.8 +1.5
SPDW SPDR Portfolio Developed World ex-US ETF 48.1 4 5 7.2 -0.1
VEA Vanguard FTSE Developed Markets ETF 48.1 5 4 7.4 +0.1
EFG iShares MSCI EAFE Growth ETF 46.9 40 -31 4.7 -2.6
DOL WisdomTree International LargeCap Dividend Fund 46.5 48 -39 8.5 +1.2
DWM WisdomTree International Equity Fund 46.1 48 -39 8.2 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 46.0 35 -26 8.5 +1.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 45.2 45 -36 6.7 -0.5
FNDF Schwab Fundamental International Large Co. Index ETF 44.3 25 -16 8.6 +1.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 44.0 25 -16 6.8 -0.4
JPEU JPMorgan Diversified Return Europe Equity ETF 43.6 37 -28 6.8 -0.5
SCID Global X Scientific Beta Europe ETF 43.2 38 -29 6.9 -0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 42.1 39 -30 6.6 -0.6
EZU iShares MSCI Eurozone ETF 41.8 49 -40 6.7 -0.5
EURZ Xtrackers Eurozone Equity ETF 41.7 9 0 7.0 -0.2
PDEV Principal International Multi-Factor Core Index ETF 41.5 25 -16 7.8 +0.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 41.2 14 -5 7.0 -0.3
CWI SPDR MSCI ACWI ex-US ETF 39.6 30 -21 7.6 +0.3
ACWX iShares MSCI ACWI ex U.S. ETF 39.5 32 -23 7.5 +0.2
RFEU First Trust Riverfront Dynamic Europe ETF 39.2 83 -74 4.9 -2.3
OEUR O'shares FTSE Europe Quality Dividend ETF 39.1 48 -39 6.6 -0.7
VYMI Vanguard International High Dividend Yield ETF 38.9 32 -23 10.1 +2.8
IXUS ishares Core MSCI Total International Stock ETF 38.7 9 0 7.5 +0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 38.6 40 -31 7.3 +0.1
EFV iShares MSCI EAFE Value ETF 38.2 39 -30 10.0 +2.7
VEU Vanguard FTSE All-World ex-US Index Fund 38.0 8 1 7.7 +0.4
EUMV iShares Edge MSCI Min Vol Europe ETF 37.9 25 -16 5.5 -1.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 37.8 16 -7 7.1 -0.2
ISDX Invesco Strategic Developed ex-US ETF 37.8 23 -14 7.4 +0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 37.1 39 -30 9.1 +1.8
VXUS Vanguard Total International Stock Index Fund 36.9 8 1 7.7 +0.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 36.7 30 -21 6.2 -1.1
IQIN IQ 500 International ETF 35.4 25 -16 8.9 +1.7
IDY Pacific Global International Equity Income ETF 35.2 39 -30 8.0 +0.7
VSGX Vanguard ESG International Stock ETF 34.0 17 -8 7.3 +0.1
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 33.9 48 -39 0.0 -7.3
CIL VictoryShares International Volatility Weighted Index ETF 33.6 45 -36 6.7 -0.6
RFDI First Trust Riverfront Dynamic Developed International ETF 33.1 83 -74 6.3 -1.0
RNDM Developed International Equity Select ETF 32.4 65 -56 6.4 -0.9
IMTM iShares Edge MSCI Intl Momentum Factor ETF 31.7 30 -21 5.0 -2.3
ISZE iShares Edge MSCI Intl Size Factor ETF 31.6 30 -21 6.9 -0.3
AVDE Avantis International Equity ETF 31.1 23 -14 7.9 +0.6
IGRO iShares International Dividend Growth ETF 30.0 22 -13 7.9 +0.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 27.7 58 -49 6.1 -1.2
FDEV Fidelity Targeted International Factor ETF 27.5 39 -30 6.5 -0.8
QINT American Century Quality Diversified International ETF 27.4 39 -30 5.9 -1.4
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 26.8 24 -15 7.2 -0.1
DTH WisdomTree DEFA Equity Income Fund 26.3 58 -49 9.5 +2.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 26.3 20 -11 5.9 -1.4
FIVA Fidelity International Value Factor ETF 26.1 39 -30 10.1 +2.9
NUDM Nuveen ESG International Developed Markets Equity ETF 25.5 40 -31 6.9 -0.4
VIGI Vanguard International Dividend Appreciation ETF 25.2 25 -16 5.9 -1.4
IDHQ Invesco S&P International Developed High Quality ETF 25.2 29 -20 5.4 -1.9
TPIF Timothy Plan International ETF 25.2 62 -53 7.0 -0.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 25.0 29 -20 8.0 +0.8
IDMO Invesco S&P International Developed Momentum ETF 24.8 25 -16 4.6 -2.6
RBIN Nationwide Risk-Based International Equity ETF 24.8 42 -33 6.4 -0.8
FEZ SPDR EURO STOXX 50 ETF 24.7 29 -20 7.1 -0.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 23.6 42 -33 5.6 -1.7
IOO iShares Global 100 ETF 22.8 40 -31 4.8 -2.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 22.4 45 -36 6.9 -0.4
JPIN JPMorgan Diversified Return International Equity ETF 21.9 38 -29 7.9 +0.6
IVLU iShares Edge MSCI Intl Value Factor ETF 21.8 30 -21 11.2 +3.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 21.5 32 -23 6.5 -0.8
DDEZ WisdomTree Europe Multifactor Fund 21.4 43 -34 7.2 -0.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 21.2 29 -20 8.6 +1.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 20.3 45 -36 7.1 -0.1
TOK iShares MSCI Kokusai ETF 20.2 25 -16 5.7 -1.6
DOO WisdomTree International Dividend ex-Financials Fund 20.1 58 -49 8.6 +1.3
FEP First Trust Europe AlphaDEX Fund 20.0 80 -71 7.9 +0.7
FLGB Franklin FTSE United Kingdom ETF 19.9 9 0 7.4 +0.2
HEDJ WisdomTree Europe Hedged Equity Fund 19.7 58 -49 7.0 -0.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 19.4 35 -26 8.6 +1.3
EWU iShares MSCI United Kingdom ETF 18.8 50 -41 6.9 -0.3
QGBR SPDR MSCI UK StrategicFactors ETF 18.8 14 -5 7.5 +0.2
URTH iShares MSCI World ETF 18.6 24 -15 5.8 -1.5
QWLD SPDR MSCI World StrategicFactors ETF 18.2 30 -21 6.0 -1.2
DGT SPDR Global Dow ETF 18.1 50 -41 6.8 -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 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 7.3 %
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.