SPDR EURO STOXX 50 ETF
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.1x P/Sales
ratio
1.5x
P/BV
ratio
1.8x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
DJ EURO STOXX 50 Fund is an exchange-traded fund which represents a passive management strategy designed to track the performance of the Dow Jones EURO STOXX 50 Index. The Dow Jones STOXX 50 Index represents the performance of the 50 largest companies, across all components the 19 Dow Jones EURO 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) $1,903
Currency USD
Expense ratio 29 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 52
Wgt avg mkt cap (mns) $99,022
Large cap (>$10bn) 94.1%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 95.7%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ASML HOLDING NV 7.5 %
LVMH MOET HENNESSY LOUIS VUI 5.2 %
SAP AG 4.3 %
LINDE PLC 4.1 %
SIEMENS AG-REG 3.8 %
TOTAL SA 3.7 %
SANOFI-AVENTIS 3.5 %
ALLIANZ SE-REG 3.1 %
L'OREAL 2.7 %
SCHNEIDER ELECTRIC SA 2.7 %
Total 40.6 %

TOP COUNTRY EXPOSURE
FRANCE 34.0 %
GERMANY 28.1 %
NETHERLANDS 16.8 %
SPAIN 6.3 %
ITALY 4.6 %
UNITED KINGDOM 4.2 %
IRELAND 2.1 %
BELGIUM 1.8 %
FINLAND 1.7 %
UNITED STATES 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
4.8% 4.8% 6.9% 4.5% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 1.02 71%
MSCI EAFE 1.18 94%
MSCI Emg. Mkts. 0.89 68%

Technical Indicators
Recent close $42.39
30d moving avg. $42.11
Annualized volatility 22.8%
Short interest (ETF) 3.6%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 2,575
Turnover 5.7%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $11,784

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SPDR EURO STOXX 50 ETF ETF based on the alternatives' overlap in portfolio holdings with FEZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FEZ Expense: 29 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FEZ
Ticker Fund
Name
Overlap1
vs FEZ
(%)
Expense
ratio
(bp)
Savings
vs FEZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs FEZ
(%)
EZU iShares MSCI Eurozone ETF 58.3 51 -22 6.0 -0.1
EURZ Xtrackers Eurozone Equity ETF 56.2 9 20 6.5 +0.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 50.9 45 -16 6.0 -0.2
DFAI Dimensional International Core Equity Market ETF 50.0 18 11 6.4 +0.3
HEDJ WisdomTree Europe Hedged Equity Fund 45.1 58 -29 6.0 -0.1
FLFR Franklin FTSE France ETF 36.0 9 20 6.2 +0.1
EWQ iShares MSCI France ETF 36.0 51 -22 5.8 -0.3
IEV iShares Europe ETF 30.9 59 -30 6.2 +0.1
OEUR O'shares FTSE Europe Quality Dividend ETF 29.9 48 -19 5.1 -1.0
BBEU JPMorgan BetaBuilders Europe ETF 29.5 9 20 6.6 +0.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 29.5 58 -29 6.5 +0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 28.9 45 -16 6.0 -0.2
ZDEU SPDR Solactive Germany ETF 28.1 14 15 7.1 +1.0
FLGR Franklin FTSE Germany ETF 28.1 9 20 7.0 +0.8
DAX Global X DAX Germany ETF 28.1 21 8 7.0 +0.8
EWG iShares MSCI Germany ETF 28.1 51 -22 6.4 +0.3
DBGR Xtrackers MSCI Germany Hedged Equity ETF 28.1 45 -16 6.4 +0.3
FLEE Franklin FTSE Europe ETF 27.8 9 20 6.4 +0.3
FLEH Franklin FTSE Europe Hedged ETF 27.7 9 20 6.5 +0.4
SPEU SPDR Portfolio Europe ETF 26.4 9 20 6.7 +0.6
IEUR iShares Core MSCI Europe ETF 25.8 9 20 6.6 +0.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 25.6 20 9 8.4 +2.3
VGK Vanguard FTSE Europe ETF 25.0 8 21 6.7 +0.6
DXGE WisdomTree Germany Hedged Equity Fund 23.8 48 -19 7.6 +1.5
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 21.9 35 -6 5.9 -0.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 21.9 25 4 5.9 -0.2
EFV iShares MSCI EAFE Value ETF 21.4 39 -10 8.4 +2.2
DOL WisdomTree International LargeCap Dividend Fund 20.6 48 -19 7.2 +1.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 20.2 14 15 6.1 -0.0
IQSI IQ Candriam ESG International Equity ETF 19.6 15 14 6.4 +0.3
IGRO iShares International Dividend Growth ETF 18.6 15 14 7.0 +0.9
EFA iShares MSCI EAFE ETF 18.5 32 -3 6.2 +0.1
ESGD iShares MSCI EAFE ESG Optimized ETF 18.5 20 9 6.2 +0.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 18.4 30 -1 5.2 -0.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 18.4 20 9 6.4 +0.3
GSID Goldman Sachs MarketBeta International Equity ETF 18.2 20 9 6.3 +0.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 18.0 35 -6 6.1 -0.1
IQIN IQ 500 International ETF 17.7 25 4 7.6 +1.5
IVLU iShares Edge MSCI Intl Value Factor ETF 17.4 30 -1 9.9 +3.8
IDMO Invesco S&P International Developed Momentum ETF 17.4 26 3 3.7 -2.4
BKIE BNY Mellon International Equity ETF 17.2 4 25 6.5 +0.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 17.1 45 -16 7.6 +1.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 17.1 30 -1 4.1 -2.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 16.1 20 9 9.4 +3.3
HFXI IQ 50 Percent Hedged FTSE International ETF 16.1 20 9 6.4 +0.3
DTH WisdomTree International High Dividend Fund 16.0 58 -29 8.7 +2.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 15.8 7 22 6.5 +0.4
FIVA Fidelity International Value Factor ETF 15.7 39 -10 8.7 +2.6
IEFA iShares Core MSCI EAFE ETF 15.7 7 22 6.5 +0.4
EFG iShares MSCI EAFE Growth ETF 15.5 40 -11 4.1 -2.1
NUDM Nuveen ESG International Developed Markets Equity ETF 15.2 40 -11 5.9 -0.2
DWM WisdomTree International Equity Fund 15.1 48 -19 7.2 +1.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 14.9 40 -11 7.2 +1.1
IDOG ALPS International Sector Dividend Dogs ETF 14.9 50 -21 8.2 +2.1
EWN iShares MSCI Netherlands ETF 14.8 51 -22 4.3 -1.8
PDEV Principal International Multi-Factor Core Index ETF 14.8 25 4 7.1 +1.0
JHMD John Hancock Multifactor Developed International ETF 14.7 39 -10 6.6 +0.5
SCHF Schwab International Equity ETF 14.6 6 23 6.5 +0.4
VIGI Vanguard International Dividend Appreciation ETF 14.5 20 9 5.0 -1.1
FNDF Schwab Fundamental International Large Co. Index ETF 14.5 25 4 7.7 +1.6
DMXF iShares ESG Advanced MSCI EAFE ETF 14.4 12 17 6.2 +0.1
RFEU First Trust Riverfront Dynamic Europe ETF 14.4 83 -54 5.6 -0.5
JIG JPMorgan International Growth ETF 14.3 55 -26 2.4 -3.7
ISDX Invesco RAFI Strategic Developed ex-US ETF 13.9 23 6 6.3 +0.2
IDEV iShares Core MSCI International Developed Markets ETF 13.7 5 24 6.5 +0.3
QEFA SPDR MSCI EAFE Quality Mix ETF 13.7 30 -1 6.0 -0.2
IQDG WisdomTree International Quality Dividend Growth Fund 13.4 42 -13 6.0 -0.2
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 13.4 58 -29 5.8 -0.4
VYMI Vanguard International High Dividend Yield ETF 12.9 27 2 9.0 +2.9
CWI SPDR MSCI ACWI ex-US ETF 12.9 30 -1 6.2 +0.0
RESD WisdomTree International ESG Fund 12.8 30 -1 6.5 +0.4
EUFN iShares MSCI Europe Financials ETF 12.8 48 -19 10.8 +4.7
SPDW SPDR Portfolio Developed World ex-US ETF 12.7 4 25 6.2 +0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 12.7 47 -18 8.1 +2.0
VEA Vanguard FTSE Developed Markets ETF 12.5 5 24 6.6 +0.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 12.0 16 13 6.0 -0.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 11.9 25 4 6.0 -0.1
IDHQ Invesco S&P International Developed Quality ETF 11.6 29 0 4.8 -1.4
ACWX iShares MSCI ACWI ex U.S. ETF 11.4 32 -3 6.3 +0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 11.2 40 -11 6.1 -0.0
DWCR Arrow DWA Country Rotation ETF 10.7 116 -87 3.6 -2.5
VEU Vanguard FTSE All-World ex-US Index Fund 10.2 8 21 6.7 +0.6
RXI iShares Global Consumer Discretionary ETF 10.0 46 -17 3.7 -2.4
IXUS ishares Core MSCI Total International Stock ETF 9.8 9 20 6.4 +0.3
FIDI Fidelity International High Dividend ETF 9.8 39 -10 10.1 +4.0
EUDV ProShares MSCI Europe Dividend Growers ETF 9.6 56 -27 4.9 -1.2
FEUZ First Trust Eurozone AlphaDEX ETF 9.6 80 -51 7.0 +0.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 9.3 32 -3 5.7 -0.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 9.2 39 -10 7.4 +1.3
VWID Virtus WMC International Dividend ETF 9.2 49 -20 7.4 +1.3
FDD First Trust Stoxx European Select Dividend Index Fund 9.2 58 -29 8.8 +2.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 9.0 39 -10 5.6 -0.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 8.8 47 -18 5.9 -0.2
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 8.8 61 -32 4.5 -1.6
FDEV Fidelity Targeted International Factor ETF 8.7 39 -10 6.2 +0.0
EXI iShares Global Industrials ETF 8.6 46 -17 4.9 -1.3
DGT SPDR Global Dow ETF 8.6 50 -21 6.3 +0.2
VSGX Vanguard ESG International Stock ETF 8.5 17 12 6.3 +0.2

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 EURO STOXX 50 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 10.7 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.54
 
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.