SPDR Kensho New Economies Composite
ALTAR
Score™
3.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
28.4x P/Sales
ratio
1.7x
P/BV
ratio
2.7x Div.
yield
1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR Kensho New Economies Composite ETF tracks an index of US-listed companies with products or services that disrupt traditional industries. Holdings are weighted in tiers.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website us.spdrs.com
Inception date Oct 22, 2018
Assets (mns) $97
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 378
Wgt avg mkt cap (mns) $62,698
Large cap (>$10bn) 50.0%
Mid cap ($2-10bn) 27.2%
Small cap (<$2bn) 22.4%
Developed mkts 90.9%
Emerging mkts 9.1%

TOP TEN HOLDINGS
HARRIS CORP 1.8 %
RAYTHEON COMPANY 1.7 %
TELEDYNE TECHNOLOGIES INC 1.4 %
TESLA MOTORS INC 1.3 %
NVIDIA CORP 1.2 %
LOCKHEED MARTIN CORP 1.2 %
MICROSOFT CORP 1.1 %
FLIR SYSTEMS INC 1.1 %
LINE CORP. SPONSORED ADR 1.0 %
ABB LTD-SPON ADR 1.0 %
Total 12.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 76.4 %
CHINA 4.5 %
BRITAIN 2.9 %
SWITZERLAND 2.5 %
CANADA 2.2 %
JAPAN 1.8 %
BRAZIL 1.5 %
ISRAEL 1.0 %
NETHERLANDS 1.0 %
SINGAPORE 0.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
32.8% -- -- -- 19.0%

Market Correlations
versus... Beta R-squared
S&P500 1.22 92%
MSCI EAFE 1.50 80%
MSCI Emg. Mkts. 1.11 63%

Technical Indicators
Recent close $34.75
30d moving avg. $34.45
Annualized volatility 21.9%
Short interest (ETF) 0.9%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 25
Turnover 0.9%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $63,752

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR Kensho New Economies Composite ETF based on the alternatives' overlap in portfolio holdings with KOMP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KOMP Expense: 20 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KOMP
Ticker Fund
Name
Overlap1
vs KOMP
(%)
Expense
ratio
(bp)
Savings
vs KOMP
(bp)
ALTAR
Score™
(%)
ALTAR
vs KOMP
(%)
FITE SPDR Kensho Future Security 26.5 45 -25 4.1 +0.4
PPA Invesco Aero & Defense 18.5 59 -39 5.3 +1.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 16.8 9 11 6.0 +2.3
JHML John Hancock Multifactor Large Cap 16.8 34 -14 6.0 +2.2
XKCP SPDR Kensho Clean Power 16.7 45 -25 2.9 -0.8
SPTM SPDR Portfolio Total Stock Market 16.5 3 17 5.7 +1.9
SCHB Schwab U.S. Broad Market 16.4 3 17 5.7 +2.0
ITOT iShares Core S&P Total US 16.4 3 17 5.6 +1.9
SPLG SPDR Portfolio Large Cap 16.4 3 17 5.8 +2.0
IYY iShares DJ US Total Market 16.4 20 0 5.7 +1.9
VTI Vanguard Total Market 16.3 3 17 5.7 +1.9
PBUS Invesco PureBeta MSCI USA 16.3 4 16 6.0 +2.2
SCHK Schwab 1000 Index 16.3 5 15 5.8 +2.1
SCHX Schwab U.S. Large-Cap 16.3 3 17 5.8 +2.1
IWV iShares Russell 3000 16.2 20 0 5.5 +1.8
VTHR Vanguard Russell 3000 16.2 15 5 5.6 +1.9
BBUS JP Morgan Betabuilders U.S. Equity 16.2 2 18 5.9 +2.1
SPXN ProShares S&P 500 Ex-Financials 16.1 27 -7 5.9 +2.2
MMTM SPDR S&P1500 Momentum Tilt 16.1 12 8 5.4 +1.6
IWB iShares Russell 1000 16.1 15 5 5.7 +2.0

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
SPDR Kensho New Economies Composite
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 9.8 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.56
 
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.