SPDR S&P Global Natural Resources ETF
ALTAR
Score™
6.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
28.5x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Global Natural Resources ETF is an exchanged-traded fund incorporated in the United States. The Fund seeks to track the performance of the S&P Global Natural Resources Index which tracks the global natural resources and commodities businesses.

FUND BASICS
Category Global Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Sep 13, 2010
Assets (mns) $1,135
Currency USD
Expense ratio 40 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 98
Wgt avg mkt cap (mns) $44,950
Large cap (>$10bn) 78.8%
Mid cap ($2-10bn) 18.5%
Small cap (<$2bn) 0.3%
Developed mkts 90.5%
Emerging mkts 9.5%

TOP TEN HOLDINGS
BHP BILLITON LTD 5.0 %
EXXON MOBIL CORP 3.7 %
TOTAL SA 3.6 %
CHEVRON CORP 3.4 %
UPM-KYMMENE OYJ 2.8 %
BP PLC 2.7 %
ROYAL DUTCH SHELL PLC-A SHS 2.3 %
VALE SA-SP ADR 2.3 %
BARRICK GOLD CORP 2.2 %
ANGLO AMERICAN PLC 2.2 %
Total 30.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 28.9 %
BRITAIN 11.8 %
CANADA 11.3 %
AUSTRALIA 10.3 %
FINLAND 5.1 %
RUSSIA 4.5 %
FRANCE 3.6 %
BRAZIL 2.7 %
NORWAY 2.3 %
JAPAN 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-16.6% -11.9% 2.5% -- -0.4%

Market Correlations
versus... Beta R-squared
S&P500 1.10 76%
MSCI EAFE 1.29 88%
MSCI Emg. Mkts. 0.95 77%

Technical Indicators
Recent close $39.65
30d moving avg. $37.95
Annualized volatility 21.7%
Short interest (ETF) 0.7%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 109
Turnover 0.4%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $9,636

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR S&P Global Natural Resources ETF ETF based on the alternatives' overlap in portfolio holdings with GNR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GNR Expense: 40 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GNR
Ticker Fund
Name
Overlap1
vs GNR
(%)
Expense
ratio
(bp)
Savings
vs GNR
(bp)
ALTAR
Score™
(%)
ALTAR
vs GNR
(%)
GUNR Flexshares Morningstar Global Upstream Natural Resources 51.7 46 -6 5.4 -0.9
HAP VanEck Vectors Natural Resources ETF 39.9 50 -10 6.0 -0.4
MXI iShares Global Materials ETF 33.4 46 -6 5.7 -0.6
GRES IQ Global Resources ETF 28.6 77 -37 7.3 +1.0
NANR SPDR S&P North American Natural Resources ETF 28.3 35 5 3.4 -2.9
IXC iShares Global Energy ETF 26.2 46 -6 6.0 -0.3
FILL iShares MSCI Global Energy Producers ETF 24.8 39 1 6.5 +0.2
IGE iShares North American Natural Resources ETF 21.5 46 -6 4.0 -2.3
PICK iShares MSCI Global Metals & Mining Producers ETF 17.9 39 1 6.7 +0.4
CUT Invesco MSCI Global Timber ETF 17.8 61 -21 8.9 +2.6
WOOD iShares Global Timber & Forestry ETF 13.7 46 -6 9.7 +3.4
ISDX Invesco Strategic Developed ex-US ETF 13.2 23 17 7.4 +1.1
VAW Vanguard Materials Index Fund 12.7 10 30 5.7 -0.6
FMAT Fidelity MSCI Materials Index ETF 12.7 8 32 5.7 -0.6
XLB Materials Select Sector SPDR Fund 12.7 13 27 5.6 -0.8
DTH WisdomTree DEFA Equity Income Fund 12.6 58 -18 9.8 +3.5
DEW WisdomTree Global High Dividend Fund 12.3 58 -18 9.2 +2.9
RTM Invesco S&P 500 Equal Weight Materials ETF 12.0 40 0 5.9 -0.4
DOO WisdomTree International Dividend ex-Financials Fund 11.6 58 -18 8.8 +2.5
XLE Energy Select Sector SPDR Fund 11.6 13 27 4.6 -1.7
FENY Fidelity MSCI Energy Index ETF 11.6 8 32 4.3 -2.0
IYE iShares U.S. Energy ETF 11.6 42 -2 4.1 -2.2
VDE Vanguard Energy Index Fund 11.6 10 30 3.9 -2.4
JHME John Hancock Multifactor Energy ETF 11.6 40 0 3.8 -2.5
VEGI iShares MSCI Global Agriculture Producers ETF 11.6 39 1 5.7 -0.6
RYE Invesco S&P 500 Equal Weight Energy ETF 11.5 40 0 3.7 -2.6
FXN First Trust Energy AlphaDEX Fund 11.4 65 -25 2.6 -3.7
FTXN First Trust Nasdaq Oil & Gas ETF 11.3 60 -20 3.2 -3.1
FTRI First Trust Indxx Global Natural Resources Income ETF 11.2 70 -30 8.9 +2.6
MOO VanEck Vectors Agribusiness ETF 11.1 56 -16 5.2 -1.1
FLAU Franklin FTSE Australia ETF 11.1 9 31 6.6 +0.3
JHMA John Hancock Multifactor Materials ETF 11.1 40 0 6.5 +0.1
GBDV Global Beta Smart Income ETF 10.9 29 11 8.5 +2.2
EPP iShares MSCI Pacific ex-Japan ETF 10.8 48 -8 6.5 +0.2
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 10.8 19 21 6.8 +0.5
EQRR ProShares Equities for Rising Rates ETF 10.5 35 5 6.8 +0.5
EWA iShares MSCI Australia ETF 10.4 50 -10 6.1 -0.3
FYLD Cambria Foreign Shareholder Yield ETF 10.3 59 -19 6.9 +0.6
XOP SPDR S&P Oil & Gas Exploration & Production ETF 10.3 35 5 3.4 -2.9
HDV iShares Core High Dividend ETF 10.1 8 32 6.7 +0.4
EFAS Global X MSCI SuperDividend EAFE ETF 9.9 56 -16 9.8 +3.5
RPV Invesco S&P 500 Pure Value ETF 9.9 35 5 10.9 +4.5
FTAG First Trust Indxx Global Agriculture ETF 9.8 70 -30 6.3 -0.1
MAGA Point Bridge GOP Stock Tracker ETF 9.5 72 -32 6.3 -0.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 9.4 20 20 11.1 +4.8
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 9.3 45 -5 10.0 +3.6
IDY Pacific Global International Equity Income ETF 9.2 39 1 8.1 +1.7
QCAN SPDR MSCI Canada Quality Mix ETF 9.2 14 26 6.7 +0.4
BBCA JPMorgan BetaBuilders Canada ETF 9.2 19 21 6.7 +0.4
EWC iShares MSCI Canada ETF 9.2 49 -9 6.5 +0.2
DTN WisdomTree U.S. Dividend ex-Financials Fund 9.0 38 2 7.7 +1.4
SPVU Invesco S&P 500 Enhanced Value ETF 9.0 13 27 11.4 +5.1
IDOG ALPS International Sector Dividend Dogs ETF 8.9 50 -10 10.8 +4.5
DOL WisdomTree International LargeCap Dividend Fund 8.8 48 -8 8.7 +2.4
SGDM Sprott Gold Miners ETF 8.8 50 -10 2.3 -4.1
FLGB Franklin FTSE United Kingdom ETF 8.7 9 31 7.8 +1.5
EWU iShares MSCI United Kingdom ETF 8.7 50 -10 7.3 +1.0
FNDF Schwab Fundamental International Large Co. Index ETF 8.6 25 15 8.8 +2.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 8.5 20 20 9.6 +3.3
PXI Invesco DWA Energy Momentum ETF 8.5 60 -20 0.5 -5.8
PEY Invesco High Yield Equity Dividend Achievers ETF 8.4 53 -13 9.7 +3.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 8.4 45 -5 8.9 +2.6
VLU SPDR S&P 1500 Value Tilt ETF 8.3 12 28 7.2 +0.9
BLES Inspire Global Hope Large Cap ETF 8.3 52 -12 6.5 +0.2
FLCA Franklin FTSE Canada ETF 8.2 9 31 7.0 +0.7
FXZ First Trust Materials AlphaDEX Fund 8.2 65 -25 7.2 +0.9
GCOW Pacer Global High Dividend ETF 8.2 60 -20 10.4 +4.1
IQIN IQ 500 International ETF 8.1 25 15 8.8 +2.5
RING iShares MSCI Global Gold Miners ETF 8.1 39 1 2.8 -3.6
IYM iShares U.S. Basic Materials ETF 8.1 42 -2 5.0 -1.3
EFV iShares MSCI EAFE Value ETF 8.1 39 1 9.7 +3.3
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 8.0 35 5 8.4 +2.1
FKU First Trust United Kingdom AlphaDEX Fund 7.9 80 -40 8.4 +2.1
PVAL Principal Contrarian Value Index ETF 7.8 29 11 9.8 +3.5
FCTR First Trust Lunt U.S. Factor Rotation ETF 7.8 65 -25 2.9 -3.4
ONEY SPDR Russell 1000 Yield Focus ETF 7.8 20 20 9.0 +2.7
DHS WisdomTree U.S. High Dividend Fund 7.7 38 2 8.5 +2.2
IUS Invesco Strategic US ETF 7.7 19 21 6.3 -0.0
HLAL Wahed FTSE USA Shariah ETF 7.6 50 -10 4.3 -2.0
QGBR SPDR MSCI UK StrategicFactors ETF 7.6 14 26 7.8 +1.5
DVY iShares Select Dividend ETF 7.6 39 1 9.4 +3.1
FTA First Trust Large Cap Value AlphaDEX Fund 7.6 60 -20 9.2 +2.8
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.6 65 -25 10.7 +4.4
IDV iShares International Select Dividend ETF 7.5 49 -9 10.2 +3.9
VOE Vanguard Mid-Cap Value Index Fund 7.5 7 33 7.6 +1.3
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 7.4 30 10 9.7 +3.3
OEUR O'shares FTSE Europe Quality Dividend ETF 7.4 48 -8 6.7 +0.4
FDVV Fidelity Core Dividend ETF 7.3 29 11 7.0 +0.7
IVLU iShares Edge MSCI Intl Value Factor ETF 7.3 30 10 11.6 +5.3
JDIV JPMorgan U.S. Dividend ETF 7.3 12 28 7.7 +1.4
SCIX Global X Scientific Beta Asia ex-Japan ETF 7.1 38 2 6.6 +0.3
OUSA O'Shares FTSE US Quality Dividend ETF 7.1 48 -8 5.5 -0.8
DJD Invesco Dow Jones Industrial Average Dividend ETF 7.1 7 33 6.8 +0.5
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 7.1 49 -9 9.0 +2.7
SPHB Invesco S&P 500 High Beta ETF 7.1 25 15 9.1 +2.8
ALTL Pacer Lunt Large Cap Alternator ETF 7.1 60 -20 9.0 +2.7
SPYD SPDR S&P 500 High Dividend ETF 7.0 7 33 10.5 +4.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 7.0 35 5 8.6 +2.3
FIVA Fidelity International Value Factor ETF 7.0 39 1 10.0 +3.7
RWL Invesco S&P 500 Revenue ETF 7.0 39 1 7.0 +0.7

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 S&P Global Natural Resources ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.7 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.51
 
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.