SPDR Kensho New Economies Composite ETF
ALTAR
Score™
2.2% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
88.5x P/Sales
ratio
1.6x
P/BV
ratio
2.9x Div.
yield
1.1%


  • 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 19, 2018
Assets (mns) $1,242
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 394
Wgt avg mkt cap (mns) $80,225
Large cap (>$10bn) 43.7%
Mid cap ($2-10bn) 29.0%
Small cap (<$2bn) 24.7%
Developed mkts 88.8%
Emerging mkts 11.2%

TOP TEN HOLDINGS
NIO INC. SPONSORED ADR CLASS A 2.3 %
SUNRUN INC. 1.9 %
ZOOM VIDEO COMMUNICATIONS, INC. CL 1.5 %
OVERSTOCK.COM INC 1.5 %
PACIFIC BIOSCIENCES OF CALIF 1.4 %
TESLA MOTORS INC 1.3 %
WORKHORSE GROUP INC. 1.3 %
PLUG POWER INC 1.2 %
TWILIO, INC. CLASS A 1.1 %
IRHYTHM TECHNOLOGIES, INC. 1.0 %
Total 14.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 73.7 %
CHINA 8.1 %
SWITZERLAND 3.1 %
BRITAIN 2.5 %
CANADA 1.9 %
NETHERLANDS 1.7 %
JAPAN 1.1 %
ISRAEL 1.0 %
IRELAND 1.0 %
BRAZIL 0.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
19.5% 30.6% -- -- 23.2%

Market Correlations
versus... Beta R-squared
S&P500 1.17 93%
MSCI EAFE 1.28 87%
MSCI Emg. Mkts. 0.95 74%

Technical Indicators
Recent close $46.09
30d moving avg. $43.53
Annualized volatility 25.5%
Short interest (ETF) 0.1%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 114
Turnover 0.4%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $160,002

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR Kensho New Economies Composite ETF 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™: 2.2%


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
(%)
XKST SPDR Kensho Smart Mobility ETF 21.3 45 -25 4.4 +2.2
SCHB Schwab U.S. Broad Market ETF 18.1 3 17 4.9 +2.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 18.1 3 17 4.9 +2.7
VTHR Vanguard Russell 3000 Index Fund 18.0 10 10 4.8 +2.6
SCHX Schwab U.S. Large-Cap ETF 18.0 3 17 5.0 +2.8
IYY iShares Dow Jones U.S. ETF 18.0 20 0 4.9 +2.7
SFY SoFi Select 500 ETF 17.9 0 20 4.9 +2.7
JHML John Hancock Multifactor Large Cap ETF 17.9 29 -9 5.3 +3.1
SCHK Schwab 1000 Index ETF 17.9 5 15 5.0 +2.8
IWV iShares Russell 3000 ETF 17.9 20 0 4.8 +2.6
PBUS Invesco PureBeta MSCI USA ETF 17.8 4 16 5.0 +2.8
IWB iShares Russell 1000 ETF 17.6 15 5 4.9 +2.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 17.6 30 -10 6.4 +4.2
VTI Vanguard Total Stock Market Index Fund 17.6 3 17 4.9 +2.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 17.5 2 18 5.1 +2.9
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 17.5 50 -30 3.3 +1.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 17.5 7 13 5.0 +2.8
VONE Vanguard Russell 1000 ETF 17.4 8 12 5.0 +2.8
VV Vanguard Large-Cap Index Fund 17.2 4 16 5.0 +2.8
SIZE iShares Edge MSCI USA Size Factor ETF 17.0 15 5 5.9 +3.7
ESGV Vanguard ESG U.S. Stock ETF 16.9 12 8 4.9 +2.7
ESGU iShares MSCI USA ESG Optimized ETF 16.9 15 5 4.9 +2.7
DRIV Global X Autonomous & Electric Vehicles ETF 16.8 68 -48 5.9 +3.7
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 16.7 25 -5 6.1 +3.9
EUSA iShares MSCI USA Equal Weighted ETF 16.7 15 5 6.0 +3.8
XKCP SPDR Kensho Clean Power ETF 16.6 45 -25 0.2 -2.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 16.6 9 11 5.4 +3.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 16.4 66 -46 2.2 +0.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 16.1 9 11 5.8 +3.6
AVUS Avantis U.S. Equity ETF 15.7 15 5 5.4 +3.2
MGC Vanguard Mega Cap Index Fund 15.7 7 13 5.0 +2.8
SPTM SPDR Portfolio Total Stock Market ETF 15.6 3 17 5.3 +3.1
VFMO Vanguard U.S. Momentum Factor ETF 15.6 13 7 0.7 -1.5
XITK SPDR FactSet Innovative Technology ETF 15.5 45 -25 0.2 -2.0
XT iShares Exponential Technologies ETF 15.4 47 -27 4.8 +2.6
KOKU Xtrackers MSCI Kokusai Equity ETF 15.4 9 11 5.5 +3.3
PBP Invesco S&P 500 BuyWrite ETF 15.4 49 -29 4.8 +2.6
SPXN ProShares S&P 500 Ex-Financials ETF 15.3 27 -7 4.8 +2.6
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 15.3 60 -40 0.4 -1.8
HSPX Global X S&P 500 Covered Call ETF 15.3 60 -40 4.8 +2.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 15.2 35 -15 5.6 +3.4
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 15.2 35 -15 5.6 +3.4
XYLG Global X S&P 500 Covered Call & Growth ETF 15.2 60 -40 4.8 +2.6
SPLG SPDR Portfolio Large Cap ETF 15.1 3 17 5.2 +3.0
IVV iShares Core S&P 500 ETF 15.1 3 17 5.2 +3.0
SPY SPDR S&P 500 ETF Trust 15.1 9 11 5.1 +2.9
PBW Invesco WilderHill Clean Energy ETF 15.1 70 -50 -2.7 -4.9
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 15.1 20 0 5.1 +2.9
IWL iShares Russell Top 200 ETF 15.1 15 5 4.8 +2.6
TOK iShares MSCI Kokusai ETF 15.1 25 -5 5.4 +3.2
FTC First Trust Large Cap Growth AlphaDEX Fund 15.1 61 -41 2.6 +0.4
VOO VANGUARD S&P 500 ETF 15.0 3 17 5.2 +3.0
SPXE ProShares S&P 500 Ex-Energy ETF 14.9 27 -7 5.1 +2.9
IUS Invesco Strategic US ETF 14.8 19 1 6.3 +4.1
FEX First Trust Large Cap Core AlphaDEX Fund 14.8 60 -40 5.7 +3.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 14.7 75 -55 3.7 +1.5
PRF Invesco FTSE RAFI US 1000 ETF 14.7 39 -19 6.7 +4.5
VXF Vanguard Extended Market Index Fund 14.7 6 14 3.4 +1.2
AIEQ AI Powered Equity ETF 14.7 87 -67 2.7 +0.5
IGM iShares Expanded Tech Sector ETF 14.7 46 -26 3.7 +1.5
BKLC BNY Mellon US Large Cap Core Equity ETF 14.5 0 20 4.9 +2.7
TUSA First Trust Total US Market AlphaDEX ETF 14.5 70 -50 5.6 +3.4
VUG Vanguard Growth Index Fund 14.4 4 16 3.8 +1.6
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 14.4 21 -1 3.0 +0.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 14.4 25 -5 6.6 +4.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 14.3 25 -5 6.6 +4.4
URTH iShares MSCI World ETF 14.3 24 -4 5.5 +3.3
RSP Invesco S&P 500 Equal Weight ETF 14.2 20 0 6.4 +4.2
ETHO Etho Climate Leadership U.S. ETF 14.1 47 -27 4.3 +2.1
JMOM JPMorgan U.S. Momentum Factor ETF 14.1 12 8 3.3 +1.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 14.0 29 -9 5.8 +3.6
VLU SPDR S&P 1500 Value Tilt ETF 14.0 12 8 7.2 +5.0
LOWC SPDR MSCI ACWI Low Carbon Target ETF 14.0 20 0 5.9 +3.7
EXT WisdomTree U.S. Total Earnings Fund 14.0 28 -8 5.4 +3.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 14.0 20 0 5.9 +3.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 13.9 20 0 4.8 +2.6
IWF iShares Russell 1000 Growth ETF 13.8 19 1 3.6 +1.4
ACWI iShares MSCI ACWI ETF 13.8 32 -12 5.7 +3.5
SCHG Schwab U.S. Large-Cap Growth ETF 13.7 4 16 3.4 +1.2
JHMT John Hancock Multifactor Technology ETF 13.7 40 -20 4.6 +2.4
MXDU Nationwide Maximum Diversification US Core Equity ETF 13.7 34 -14 4.6 +2.4
IYW iShares U.S. Technology ETF 13.7 43 -23 3.8 +1.6
VONG Vanguard Russell 1000 Growth Index Fund 13.6 8 12 3.7 +1.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 13.6 60 -40 4.0 +1.8
VT Vanguard Total World Stock Index Fund 13.6 8 12 6.0 +3.8
BKMC BNY Mellon US Mid Cap Core Equity ETF 13.4 4 16 5.2 +3.0
VEGN US Vegan Climate ETF 13.4 60 -40 4.9 +2.7
IETC iShares Evolved U.S. Technology ETF 13.4 18 2 3.7 +1.5
QUS SPDR MSCI USA StrategicFactors ETF 13.3 15 5 5.7 +3.5
ONEO SPDR Russell 1000 Momentum Focus ETF 13.3 20 0 6.2 +4.0
RWL Invesco S&P 500 Revenue ETF 13.3 39 -19 7.1 +4.9
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 13.3 20 0 7.4 +5.2
SLT Salt TruBeta High Exposure ETF 13.2 60 -40 3.2 +1.0
IQSU IQ Candriam ESG US Equity ETF 13.2 9 11 4.9 +2.7
RNLC Large Cap US Equity Select ETF 13.2 60 -40 6.0 +3.8
EPS WisdomTree U.S. Earnings 500 Fund 13.1 8 12 6.3 +4.1
TECB iShares US Tech Breakthrough Multisector ETF 13.1 40 -20 3.9 +1.7
IUSG iShares Core S&P US Growth ETF 13.1 4 16 4.2 +2.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 13.0 12 8 4.5 +2.3
FTEC Fidelity MSCI Information Technology Index ETF 13.0 8 12 4.3 +2.1

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 Kensho New Economies Composite ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 6.7 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 2.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.