SPDR Russell 1000 Low Volatility ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.9x P/Sales
ratio
3.2x
P/BV
ratio
2.8x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR Russell 1000 Low Volatility ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Russell 1000 Low Volatility Index.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Feb 20, 2013
Assets (mns) $662
Currency USD
Expense ratio 12 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 133
Wgt avg mkt cap (mns) $86,660
Large cap (>$10bn) 85.0%
Mid cap ($2-10bn) 14.8%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
REPUBLIC SERVICES INC 1.7 %
MARSH & MCLENNAN COS 1.7 %
CHUBB LIMITED 1.5 %
AON PLC 1.4 %
ARTHUR J GALLAGHER & CO 1.4 %
BERKSHIRE HATHAWAY INC-CL B 1.4 %
INTERCONTINENTALEXCHANGE INC 1.4 %
NEXTERA ENERGY GROUP 1.3 %
INVITATION HOMES, INC. 1.3 %
ALEXANDRIA REAL ESTATE EQUIT 1.3 %
Total 14.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.3 %
BRITAIN 3.3 %
BERMUDA 2.9 %
IRELAND 2.2 %
SWITZERLAND 1.5 %
ISRAEL 0.7 %





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.
-5.2% 0.0% 10.5% -- 11.8%

Market Correlations
versus... Beta R-squared
S&P500 0.81 87%
MSCI EAFE 0.82 74%
MSCI Emg. Mkts. 0.55 55%

Technical Indicators
Recent close $108.19
30d moving avg. $104.66
Annualized volatility 15.0%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.5%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 56
Turnover 0.9%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $43,329

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR Russell 1000 Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with LGLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: LGLV Expense: 12 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LGLV
Ticker Fund
Name
Overlap1
vs LGLV
(%)
Expense
ratio
(bp)
Savings
vs LGLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs LGLV
(%)
FDLO Fidelity Low Volatility Factor ETF 46.8 29 -17 5.0 -0.5
USMV iShares Edge MSCI Min Vol USA ETF 43.4 15 -3 5.4 -0.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 37.3 19 -7 6.0 +0.5
FLLV Franklin Liberty U.S. Low Volatility ETF 35.7 29 -17 5.6 +0.1
QUS SPDR MSCI USA StrategicFactors ETF 31.8 15 -3 5.7 +0.2
JQUA JPMorgan U.S. Quality Factor ETF 29.9 12 0 5.2 -0.3
JMIN JPMorgan U.S. Minimum Volatility ETF 29.4 12 0 5.4 -0.1
SPMV Invesco S&P 500 Minimum Variance ETF 28.4 10 2 5.6 +0.1
FLQL Franklin LibertyQ U.S. Equity ETF 28.3 15 -3 6.0 +0.5
QLV FlexShares US Quality Low Volatility Index Fund 28.2 22 -10 4.6 -0.9
HUSV First Trust Horizon Managed Volatility Domestic ETF 28.1 70 -58 4.6 -0.8
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 28.1 35 -23 5.2 -0.2
LSLT Salt Low truBeta US Market ETF 28.0 29 -17 5.9 +0.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 27.1 25 -13 5.7 +0.3
PSET Principal Price Setters Index ETF 26.9 29 -17 4.6 -0.9
ROUS Hartford Multifactor US Equity ETF 26.8 19 -7 7.0 +1.6
FQAL Fidelity Quality Factor ETF 26.6 29 -17 5.4 -0.1
KLCD KFA Large Cap Quality Dividend Index ETF 26.3 41 -29 5.1 -0.4
PBP Invesco S&P 500 BuyWrite ETF 25.8 49 -37 4.8 -0.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 25.8 30 -18 6.3 +0.8
BKLC BNY Mellon US Large Cap Core Equity ETF 25.5 0 12 4.9 -0.5
HSPX Global X S&P 500 Covered Call ETF 25.4 65 -53 4.7 -0.8
SPLV Invesco S&P 500 Low Volatility ETF 25.3 25 -13 5.5 +0.0
SPY SPDR S&P 500 ETF Trust 25.3 9 3 5.2 -0.3
IVV iShares Core S&P 500 ETF 25.3 4 8 5.2 -0.3
SPLG SPDR Portfolio Large Cap ETF 25.2 3 9 5.2 -0.3
VOO VANGUARD S&P 500 ETF 25.2 3 9 5.2 -0.3
IWL iShares Russell Top 200 ETF 25.1 15 -3 4.8 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 25.1 9 3 5.3 -0.1
MGC Vanguard Mega Cap Index Fund 25.0 7 5 5.0 -0.5
ACWV iShares Edge MSCI Min Vol Global ETF 25.0 20 -8 5.6 +0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 24.9 2 10 5.1 -0.4
SCHX Schwab U.S. Large-Cap ETF 24.8 3 9 5.1 -0.4
PFM Invesco Dividend Achievers ETF 24.7 54 -42 5.3 -0.2
VSDA VictoryShares Dividend Accelerator ETF 24.7 35 -23 4.8 -0.7
SPXE ProShares S&P 500 Ex-Energy ETF 24.6 27 -15 5.1 -0.4
PBUS Invesco PureBeta MSCI USA ETF 24.6 4 8 5.1 -0.4
VV Vanguard Large-Cap Index Fund 24.5 4 8 5.0 -0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 24.5 20 -8 5.1 -0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 24.5 7 5 5.0 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 24.4 3 9 5.3 -0.2
SCHK Schwab 1000 Index ETF 24.3 5 7 5.1 -0.4
IWX iShares Russell Top 200 Value ETF 24.3 20 -8 6.7 +1.2
ESGU iShares MSCI USA ESG Optimized ETF 24.3 15 -3 4.9 -0.6
VONE Vanguard Russell 1000 ETF 24.2 8 4 5.0 -0.5
IWB iShares Russell 1000 ETF 24.2 15 -3 4.9 -0.6
DEF Invesco Defensive Equity ETF 24.2 55 -43 4.9 -0.6
IYY iShares Dow Jones U.S. ETF 24.1 20 -8 5.0 -0.5
VONV Vanguard Russell 1000 Value Index Fund 23.9 8 4 6.9 +1.4
IWD iShares Russell 1000 Value ETF 23.8 19 -7 6.8 +1.3
SPXT ProShares S&P 500 Ex-Technology ETF 23.8 27 -15 5.4 -0.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 23.7 29 -17 5.8 +0.4
JKD iShares Morningstar Large-Cap ETF 23.6 20 -8 5.3 -0.1
SPYV SPDR Portfolio S&P 500 Value ETF 23.6 4 8 7.3 +1.8
IVE iShares S&P 500 Value ETF 23.6 18 -6 7.1 +1.6
SPXN ProShares S&P 500 Ex-Financials ETF 23.6 27 -15 4.8 -0.7
VOOV Vanguard S&P 500 Value ETF 23.6 15 -3 7.1 +1.7
JHML John Hancock Multifactor Large Cap ETF 23.5 29 -17 5.4 -0.1
SCHB Schwab U.S. Broad Market ETF 23.3 3 9 5.0 -0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.2 3 9 5.0 -0.5
IWV iShares Russell 3000 ETF 23.2 20 -8 4.8 -0.7
SPXV ProShares S&P 500 Ex-Health Care ETF 23.2 27 -15 4.8 -0.7
VTHR Vanguard Russell 3000 Index Fund 23.2 10 2 4.9 -0.6
JMOM JPMorgan U.S. Momentum Factor ETF 23.2 12 0 3.5 -1.9
IUSV iShares Core S&P U.S. Value ETF 23.0 4 8 7.3 +1.8
QWLD SPDR MSCI World StrategicFactors ETF 23.0 30 -18 6.0 +0.5
DGRO iShares Core Dividend Growth ETF 23.0 8 4 6.5 +1.0
CATH Global X S&P 500 Catholic Values Custom ETF 22.8 29 -17 5.0 -0.5
VTI Vanguard Total Stock Market Index Fund 22.7 3 9 4.9 -0.6
FVD First Trust Value Line Dividend Index Fund 22.5 70 -58 6.2 +0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 22.4 25 -13 6.0 +0.5
SFY SoFi Select 500 ETF 22.4 0 12 5.0 -0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 22.4 20 -8 4.7 -0.7
SNPE Xtrackers S&P 500 ESG ETF 22.3 11 1 4.9 -0.6
VIG Vanguard Dividend Appreciation Index Fund 22.3 6 6 5.2 -0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 22.1 35 -23 5.6 +0.2
SCIU Global X Scientific Beta US ETF 22.0 19 -7 5.6 +0.1
IQSU IQ Candriam ESG US Equity ETF 21.9 9 3 4.9 -0.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 21.4 18 -6 6.0 +0.6
DTD WisdomTree U.S.Total Dividend Fund 21.4 28 -16 6.5 +1.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 21.4 10 2 5.2 -0.3
SUSL iShares ESG MSCI USA Leaders ETF 21.4 10 2 5.2 -0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 21.4 28 -16 6.3 +0.8
OEF iShares S&P 100 ETF 21.1 20 -8 4.6 -0.9
USDY Pacific Global US Equity Income ETF 21.0 29 -17 7.1 +1.6
QDEF FlexShares Quality Dividend Defensive Index Fund 21.0 37 -25 5.7 +0.2
OUSA O'Shares FTSE US Quality Dividend ETF 21.0 48 -36 5.5 +0.1
DIVB iShares U.S. Dividend & Buyback ETF 20.8 25 -13 6.4 +0.9
AFLG First Trust Active Factor Large Cap ETF 20.8 55 -43 5.3 -0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 20.7 25 -13 6.2 +0.8
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 20.5 49 -37 5.0 -0.5
EPS WisdomTree U.S. Earnings 500 Fund 20.4 8 4 6.3 +0.8
PRF Invesco FTSE RAFI US 1000 ETF 20.4 39 -27 6.6 +1.1
ACIO Aptus Collared Income Opportunity ETF 20.4 79 -67 4.1 -1.4
ESGV Vanguard ESG U.S. Stock ETF 20.3 12 0 4.9 -0.6
IUS Invesco Strategic US ETF 20.1 19 -7 6.3 +0.8
RBUS Nationwide Risk-Based U.S. Equity ETF 20.0 30 -18 4.6 -0.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 19.9 25 -13 6.2 +0.8
SPYG SPDR Portfolio S&P 500 Growth ETF 19.9 4 8 4.2 -1.3
VOOG Vanguard S&P 500 Growth ETF 19.9 10 2 4.1 -1.4

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 Russell 1000 Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.7 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.52
 
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.