SPDR MSCI ACWI Low Carbon Target ETF
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.9x P/Sales
ratio
1.8x
P/BV
ratio
2.1x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR MSCI ACWI Low Carbon Target ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to provide investment results that correspond generally to the price and yeild performance of the MSCI ACWI Low Carbon Target Index.

FUND BASICS
Category Global Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Nov 26, 2014
Assets (mns) $54
Currency USD
Expense ratio 20 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Proprietary
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1532
Wgt avg mkt cap (mns) $227,608
Large cap (>$10bn) 89.2%
Mid cap ($2-10bn) 10.2%
Small cap (<$2bn) 0.4%
Developed mkts 89.4%
Emerging mkts 10.3%

TOP TEN HOLDINGS
APPLE INC 3.1 %
MICROSOFT CORP 2.9 %
AMAZON.COM INC 2.3 %
FACEBOOK 1.1 %
ALPHABET INC. CLASS A 1.0 %
ALPHABET INC. CLASS C 0.9 %
JOHNSON & JOHNSON 0.9 %
VISA INC-CLASS A SHARES 0.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 0.8 %
NESTLE SA-REG 0.7 %
Total 14.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 55.2 %
JAPAN 7.7 %
BRITAIN 4.3 %
CHINA 3.9 %
CANADA 3.2 %
SWITZERLAND 3.0 %
FRANCE 2.7 %
GERMANY 2.3 %
AUSTRALIA 1.6 %
HONG KONG 1.4 %

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.
-8.5% 6.6% 5.5% -- 5.7%

Market Correlations
versus... Beta R-squared
S&P500 0.93 96%
MSCI EAFE 1.00 94%
MSCI Emg. Mkts. 0.76 82%

Technical Indicators
Recent close $90.72
30d moving avg. $86.21
Annualized volatility 16.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 6
Turnover 1.0%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $336,144

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: LOWC Expense: 20 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LOWC
Ticker Fund
Name
Overlap1
vs LOWC
(%)
Expense
ratio
(bp)
Savings
vs LOWC
(bp)
ALTAR
Score™
(%)
ALTAR
vs LOWC
(%)
CRBN iShares MSCI ACWI Low Carbon Target ETF 88.7 20 0 6.5 -0.1
ACWI iShares MSCI ACWI ETF 79.8 32 -12 6.2 -0.4
URTH iShares MSCI World ETF 76.4 24 -4 5.9 -0.6
TOK iShares MSCI Kokusai ETF 72.6 25 -5 5.8 -0.7
VT Vanguard Total World Stock Index Fund 71.9 8 12 6.4 -0.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 58.5 9 11 6.3 -0.2
QWLD SPDR MSCI World StrategicFactors ETF 55.2 30 -10 6.2 -0.4
PBUS Invesco PureBeta MSCI USA ETF 55.1 4 16 5.4 -1.1
SCHX Schwab U.S. Large-Cap ETF 54.9 3 17 5.5 -1.1
SCHK Schwab 1000 Index ETF 54.8 5 15 5.4 -1.1
IYY iShares Dow Jones U.S. ETF 54.8 20 0 5.3 -1.2
SCHB Schwab U.S. Broad Market ETF 54.7 3 17 5.4 -1.1
VTI Vanguard Total Stock Market Index Fund 54.7 3 17 5.3 -1.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 54.7 3 17 5.3 -1.2
IWB iShares Russell 1000 ETF 54.7 15 5 5.3 -1.2
VONE Vanguard Russell 1000 ETF 54.7 8 12 5.4 -1.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 54.6 2 18 5.5 -1.0
VTHR Vanguard Russell 3000 Index Fund 54.5 10 10 5.3 -1.3
IWV iShares Russell 3000 ETF 54.5 20 0 5.2 -1.3
VV Vanguard Large-Cap Index Fund 54.4 4 16 5.4 -1.1
JHML John Hancock Multifactor Large Cap ETF 54.4 34 -14 5.6 -0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 53.6 25 -5 6.3 -0.3
PBP Invesco S&P 500 BuyWrite ETF 53.2 49 -29 5.1 -1.4
HSPX Global X S&P 500 Covered Call ETF 53.1 65 -45 5.0 -1.6
SPTM SPDR Portfolio Total Stock Market ETF 53.1 3 17 5.7 -0.9
IVV iShares Core S&P 500 ETF 53.0 4 16 5.6 -1.0
SPY SPDR S&P 500 ETF Trust 53.0 9 11 5.5 -1.0
SPLG SPDR Portfolio Large Cap ETF 53.0 3 17 5.6 -1.0
VOO VANGUARD S&P 500 ETF 52.9 3 17 5.6 -1.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 52.6 20 0 5.6 -1.0
SFY SoFi Select 500 ETF 52.5 0 20 5.4 -1.2
SPXE ProShares S&P 500 Ex-Energy ETF 52.4 27 -7 5.5 -1.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 51.9 42 -22 5.7 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 49.9 9 11 5.6 -0.9
AVUS Avantis U.S. Equity ETF 48.3 15 5 5.9 -0.6
ESGV Vanguard ESG U.S. Stock ETF 48.2 12 8 5.4 -1.2
MGC Vanguard Mega Cap Index Fund 47.7 7 13 5.4 -1.2
EPS WisdomTree U.S. Earnings 500 Fund 46.8 8 12 6.6 +0.0
SPXN ProShares S&P 500 Ex-Financials ETF 46.3 27 -7 5.2 -1.4
ESGU iShares MSCI USA ESG Optimized ETF 46.2 15 5 5.2 -1.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 45.9 12 8 5.1 -1.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 45.2 20 0 5.1 -1.4
PRF Invesco FTSE RAFI US 1000 ETF 45.1 39 -19 6.9 +0.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 45.0 25 -5 6.7 +0.1
IWL iShares Russell Top 200 ETF 44.9 15 5 5.2 -1.3
SPXV ProShares S&P 500 Ex-Health Care ETF 44.9 27 -7 5.2 -1.3
QUS SPDR MSCI USA StrategicFactors ETF 44.7 15 5 5.9 -0.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 44.7 25 -5 6.6 +0.1
CATH Global X S&P 500 Catholic Values Custom ETF 44.4 29 -9 5.4 -1.1
IUS Invesco Strategic US ETF 43.3 19 1 6.3 -0.2
RWL Invesco S&P 500 Revenue ETF 43.2 39 -19 6.9 +0.4
VLU SPDR S&P 1500 Value Tilt ETF 41.4 12 8 7.5 +1.0
IQSU IQ Candriam ESG US Equity ETF 41.2 9 11 5.3 -1.2
SNPE Xtrackers S&P 500 ESG ETF 41.1 11 9 5.3 -1.3
DIVB iShares U.S. Dividend & Buyback ETF 40.8 25 -5 6.6 +0.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 40.5 30 -10 6.8 +0.3
IUSG iShares Core S&P US Growth ETF 40.5 4 16 4.5 -2.0
SPYG SPDR Portfolio S&P 500 Growth ETF 40.3 4 16 4.5 -2.0
IVW iShares S&P 500 Growth ETF 40.3 18 2 4.4 -2.2
VOOG Vanguard S&P 500 Growth ETF 40.2 10 10 4.5 -2.1
SPXT ProShares S&P 500 Ex-Technology ETF 39.0 27 -7 5.7 -0.8
IWF iShares Russell 1000 Growth ETF 38.4 19 1 4.4 -2.2
VONG Vanguard Russell 1000 Growth Index Fund 38.4 8 12 4.5 -2.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 37.2 40 -20 7.6 +1.1
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 37.1 29 -9 4.4 -2.2
IXUS ishares Core MSCI Total International Stock ETF 37.1 9 11 7.8 +1.3
ACWX iShares MSCI ACWI ex U.S. ETF 37.0 32 -12 7.7 +1.2
DTD WisdomTree U.S.Total Dividend Fund 36.9 28 -8 6.7 +0.2
VEU Vanguard FTSE All-World ex-US Index Fund 36.6 8 12 8.0 +1.5
VXUS Vanguard Total International Stock Index Fund 36.6 8 12 7.9 +1.4
EXT WisdomTree U.S. Total Earnings Fund 36.3 28 -8 5.9 -0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 36.1 28 -8 6.5 -0.1
OEF iShares S&P 100 ETF 36.0 20 0 5.0 -1.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 35.8 29 -9 6.2 -0.3
ESG FlexShares STOXX US ESG Impact Index Fund 35.7 32 -12 5.3 -1.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 35.7 60 -40 4.6 -2.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 34.4 15 5 6.4 -0.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 34.1 9 11 6.0 -0.5
EUSA iShares MSCI USA Equal Weighted ETF 34.0 15 5 6.2 -0.4
DGRO iShares Core Dividend Growth ETF 33.6 8 12 6.6 +0.1
AFLG First Trust Active Factor Large Cap ETF 33.4 55 -35 5.6 -0.9
RSP Invesco S&P 500 Equal Weight ETF 33.3 20 0 6.9 +0.4
KRMA Global X Conscious Companies ETF 33.2 43 -23 5.4 -1.2
SIZE iShares Edge MSCI USA Size Factor ETF 33.2 15 5 6.0 -0.5
IWY iShares Russell Top 200 Growth ETF 32.7 20 0 4.4 -2.2
VUG Vanguard Growth Index Fund 32.1 4 16 4.2 -2.3
RNLC Large Cap US Equity Select ETF 32.1 60 -40 6.3 -0.2
NACP Impact Shares NAACP Minority Empowerment ETF 32.1 75 -55 4.6 -1.9
IUSV iShares Core S&P U.S. Value ETF 32.0 4 16 7.5 +1.0
IVE iShares S&P 500 Value ETF 31.9 18 2 7.3 +0.7
VOOV Vanguard S&P 500 Value ETF 31.9 15 5 7.3 +0.8
SPYV SPDR Portfolio S&P 500 Value ETF 31.9 4 16 7.4 +0.9
DGT SPDR Global Dow ETF 31.8 50 -30 7.0 +0.5
SCHG Schwab U.S. Large-Cap Growth ETF 31.5 4 16 4.3 -2.2
DSI iShares MSCI KLD 400 Social ETF 31.2 25 -5 5.3 -1.2
RECS Columbia Research Enhanced Core ETF 31.1 15 5 5.7 -0.8
VGFO Virtus WMC Global Factor Opportunities ETF 30.4 49 -29 6.2 -0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 30.2 35 -15 5.9 -0.6
SUSL iShares ESG MSCI USA Leaders ETF 30.0 10 10 5.5 -1.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 29.9 10 10 5.5 -1.0

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%.

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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 MSCI ACWI Low Carbon Target 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 13.4 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 6.5 %
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.