Global X S&P 500 Covered Call ETF
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
24.3x P/Sales
ratio
2.4x
P/BV
ratio
3.2x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X S&P 500 Covered Call ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the S&P 500 Stock Covered Call Index.

FUND BASICS
Category US Equities
Fund Sponsor Exchange Traded Concepts LLC
Website us.horizonsetfs.com
Inception date Jun 24, 2013
Assets (mns) $98
Currency USD
Expense ratio 65 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Citibank NA
Weighting Technical
Index replication Full
Uses derivatives Yes
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 503
Wgt avg mkt cap (mns) $379,338
Large cap (>$10bn) 97.2%
Mid cap ($2-10bn) 2.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 5.9 %
APPLE INC 5.6 %
AMAZON.COM INC 4.3 %
FACEBOOK 2.3 %
ALPHABET INC. CLASS A 1.8 %
ALPHABET INC. CLASS C 1.8 %
JOHNSON & JOHNSON 1.7 %
BERKSHIRE HATHAWAY INC-CL B 1.5 %
VISA INC-CLASS A SHARES 1.4 %
JPMORGAN CHASE & CO 1.3 %
Total 27.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 102.5 %
IRELAND 1.7 %
BRITAIN 1.1 %
SWITZERLAND 0.4 %







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.
-14.7% -2.7% 3.7% -- 6.3%

Market Correlations
versus... Beta R-squared
S&P500 0.87 91%
MSCI EAFE 0.90 82%
MSCI Emg. Mkts. 0.64 63%

Technical Indicators
Recent close $42.67
30d moving avg. $41.31
Annualized volatility 15.5%
Short interest (ETF) 0.5%
Short interest (Underlying) 2.3%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 40
Turnover 1.7%
Bid/Ask (% of price) 0.74%
ADV underlying (mns) $248,475

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Global X S&P 500 Covered Call ETF ETF based on the alternatives' overlap in portfolio holdings with HSPX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HSPX Expense: 65 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HSPX
Ticker Fund
Name
Overlap1
vs HSPX
(%)
Expense
ratio
(bp)
Savings
vs HSPX
(bp)
ALTAR
Score™
(%)
ALTAR
vs HSPX
(%)
PBP Invesco S&P 500 BuyWrite ETF 105.1 49 16 5.1 +0.2
SPLG SPDR Portfolio Large Cap ETF 99.4 3 62 5.5 +0.5
IVV iShares Core S&P 500 ETF 99.4 4 61 5.5 +0.5
SPY SPDR S&P 500 ETF Trust 99.3 9 56 5.4 +0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 99.0 20 45 5.5 +0.5
SPXE ProShares S&P 500 Ex-Energy ETF 98.9 27 38 5.4 +0.5
VOO VANGUARD S&P 500 ETF 98.5 3 62 5.5 +0.6
VV Vanguard Large-Cap Index Fund 95.4 4 61 5.3 +0.4
PBUS Invesco PureBeta MSCI USA ETF 94.9 4 61 5.3 +0.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 94.3 2 63 5.4 +0.5
SCHX Schwab U.S. Large-Cap ETF 92.2 3 62 5.4 +0.4
SPTM SPDR Portfolio Total Stock Market ETF 91.6 3 62 5.6 +0.6
SPXN ProShares S&P 500 Ex-Financials ETF 91.5 27 38 5.1 +0.2
MGC Vanguard Mega Cap Index Fund 91.2 7 58 5.3 +0.4
IWB iShares Russell 1000 ETF 89.7 15 50 5.2 +0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 89.5 27 38 5.1 +0.2
SCHK Schwab 1000 Index ETF 89.1 5 60 5.3 +0.4
VONE Vanguard Russell 1000 ETF 88.8 8 57 5.3 +0.4
IYY iShares Dow Jones U.S. ETF 88.2 20 45 5.2 +0.3
IWL iShares Russell Top 200 ETF 86.4 15 50 5.1 +0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 85.8 20 45 5.0 +0.1
CATH Global X S&P 500 Catholic Values Custom ETF 85.5 29 36 5.3 +0.4
SCHB Schwab U.S. Broad Market ETF 84.6 3 62 5.3 +0.4
ESGV Vanguard ESG U.S. Stock ETF 84.6 12 53 5.3 +0.4
VTI Vanguard Total Stock Market Index Fund 84.4 3 62 5.2 +0.3
IWV iShares Russell 3000 ETF 84.4 20 45 5.1 +0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 84.4 3 62 5.2 +0.3
VTHR Vanguard Russell 3000 Index Fund 83.8 10 55 5.2 +0.3
SNPE Xtrackers S&P 500 ESG ETF 81.0 11 54 5.2 +0.3
SFY SoFi Select 500 ETF 79.2 0 65 5.3 +0.4
SPXT ProShares S&P 500 Ex-Technology ETF 78.0 27 38 5.6 +0.7
EPS WisdomTree U.S. Earnings 500 Fund 77.3 8 57 6.4 +1.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 76.9 12 53 5.1 +0.2
JHML John Hancock Multifactor Large Cap ETF 76.2 34 31 5.5 +0.6
IQSU IQ Candriam ESG US Equity ETF 75.8 9 56 5.3 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 75.8 15 50 5.1 +0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 74.5 9 56 5.6 +0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 73.0 4 61 4.5 -0.5
IVW iShares S&P 500 Growth ETF 73.0 18 47 4.3 -0.6
VOOG Vanguard S&P 500 Growth ETF 72.7 10 55 4.4 -0.5
IUSG iShares Core S&P US Growth ETF 71.6 4 61 4.5 -0.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 71.6 25 40 6.4 +1.5
OEF iShares S&P 100 ETF 70.3 20 45 4.9 -0.0
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 70.2 25 40 6.1 +1.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 69.4 25 40 6.4 +1.5
IUS Invesco Strategic US ETF 69.0 19 46 6.2 +1.2
QUS SPDR MSCI USA StrategicFactors ETF 68.3 15 50 5.8 +0.9
AVUS Avantis U.S. Equity ETF 67.9 15 50 5.7 +0.8
PRF Invesco FTSE RAFI US 1000 ETF 67.5 39 26 6.6 +1.7
TOK iShares MSCI Kokusai ETF 66.6 25 40 5.7 +0.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 66.4 60 5 4.6 -0.4
IWF iShares Russell 1000 Growth ETF 65.3 19 46 4.3 -0.6
VONG Vanguard Russell 1000 Growth Index Fund 65.3 8 57 4.4 -0.5
DIVB iShares U.S. Dividend & Buyback ETF 64.4 25 40 6.3 +1.4
ESG FlexShares STOXX US ESG Impact Index Fund 64.2 32 33 5.2 +0.2
RWL Invesco S&P 500 Revenue ETF 63.5 39 26 6.7 +1.8
DLN WisdomTree U.S. LargeCap Dividend Fund 62.9 28 37 6.3 +1.3
DTD WisdomTree U.S.Total Dividend Fund 62.8 28 37 6.5 +1.6
URTH iShares MSCI World ETF 62.3 24 41 5.8 +0.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 61.3 15 50 6.2 +1.3
SPYV SPDR Portfolio S&P 500 Value ETF 60.8 4 61 7.2 +2.2
IVE iShares S&P 500 Value ETF 60.8 18 47 7.0 +2.1
VOOV Vanguard S&P 500 Value ETF 60.5 15 50 7.1 +2.1
VLU SPDR S&P 1500 Value Tilt ETF 60.5 12 53 7.1 +2.2
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 60.3 29 36 4.3 -0.6
IUSV iShares Core S&P U.S. Value ETF 59.6 4 61 7.2 +2.3
RECS Columbia Research Enhanced Core ETF 59.6 15 50 5.6 +0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 59.5 30 35 6.6 +1.7
NACP Impact Shares NAACP Minority Empowerment ETF 59.0 75 -10 4.5 -0.5
SCHG Schwab U.S. Large-Cap Growth ETF 58.7 4 61 4.3 -0.6
IWY iShares Russell Top 200 Growth ETF 57.9 20 45 4.3 -0.6
VUG Vanguard Growth Index Fund 57.8 4 61 4.2 -0.7
EXT WisdomTree U.S. Total Earnings Fund 57.7 28 37 5.7 +0.8
XLG Invesco S&P 500 Top 50 ETF 57.7 20 45 4.7 -0.3
DSI iShares MSCI KLD 400 Social ETF 56.3 25 40 5.2 +0.3
ESGG FlexShares STOXX Global ESG Impact Index Fund 56.0 42 23 5.6 +0.7
DGRO iShares Core Dividend Growth ETF 55.8 8 57 6.4 +1.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 55.2 29 36 6.1 +1.1
WOMN Impact Shares YWCA Women's Empowerment ETF 55.0 75 -10 4.5 -0.4
VEGN US Vegan Climate ETF 54.6 60 5 5.3 +0.3
ACWI iShares MSCI ACWI ETF 54.5 32 33 6.0 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 54.4 49 16 4.2 -0.8
SUSL iShares ESG MSCI USA Leaders ETF 54.1 10 55 5.4 +0.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 54.0 10 55 5.4 +0.5
AFLG First Trust Active Factor Large Cap ETF 53.9 55 10 5.6 +0.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 53.3 20 45 6.3 +1.4
LOWC SPDR MSCI ACWI Low Carbon Target ETF 53.1 20 45 6.4 +1.5
QWLD SPDR MSCI World StrategicFactors ETF 52.1 30 35 6.0 +1.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 51.6 19 46 5.6 +0.7
IWD iShares Russell 1000 Value ETF 51.5 19 46 6.9 +2.0
VONV Vanguard Russell 1000 Value Index Fund 51.3 8 57 7.0 +2.1
EQWL Invesco Russell Top 200 Equal Weight ETF 50.9 25 40 5.9 +1.0
MGK Vanguard Mega Cap Growth ETF 50.8 7 58 4.3 -0.6
RSP Invesco S&P 500 Equal Weight ETF 50.7 20 45 6.6 +1.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 50.2 9 56 6.2 +1.3
TMFC Motley Fool 100 Index ETF 49.4 50 15 4.0 -1.0
KRMA Global X Conscious Companies ETF 49.2 43 22 5.2 +0.3
VTV Vanguard Value Index Fund 49.0 4 61 7.1 +2.2
FQAL Fidelity Quality Factor ETF 49.0 29 36 5.4 +0.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 48.6 9 56 5.8 +0.9

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:
Global X S&P 500 Covered Call 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 16.9 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.53
 
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.