SPDR MSCI ACWI Low Carbon Target ETF
ALTAR
Score™
5.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
24.4x P/Sales
ratio
2.3x
P/BV
ratio
2.7x Div.
yield
1.8%


  • 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 25, 2014
Assets (mns) $82
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 1612
Wgt avg mkt cap (mns) $317,684
Large cap (>$10bn) 91.9%
Mid cap ($2-10bn) 7.2%
Small cap (<$2bn) 0.1%
Developed mkts 87.8%
Emerging mkts 11.8%

TOP TEN HOLDINGS
APPLE INC 3.9 %
MICROSOFT CORP 2.7 %
AMAZON.COM INC 2.3 %
FACEBOOK 1.1 %
TESLA MOTORS INC 1.1 %
ALPHABET INC. CLASS A 1.0 %
TAIWAN SEMICONDUCTOR MANUFAC 1.0 %
ALPHABET INC. CLASS C 0.9 %
TENCENT HOLDINGS LTD 0.9 %
ALIBABA GROUP HOLDING LTD. SPONSOR 0.8 %
Total 15.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 54.4 %
JAPAN 6.7 %
CHINA 5.1 %
BRITAIN 3.9 %
CANADA 3.1 %
SWITZERLAND 2.8 %
FRANCE 2.5 %
GERMANY 2.3 %
SOUTH KOREA 1.9 %
TAIWAN 1.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
17.2% 17.2% 12.5% -- 9.5%

Market Correlations
versus... Beta R-squared
S&P500 0.96 96%
MSCI EAFE 0.95 94%
MSCI Emg. Mkts. 0.78 80%

Technical Indicators
Recent close $117.66
30d moving avg. $114.92
Annualized volatility 18.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.6%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $405,735

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 5.3%


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 89.7 20 0 5.3 -0.0
ACWI iShares MSCI ACWI ETF 82.5 32 -12 5.1 -0.3
URTH iShares MSCI World ETF 76.9 24 -4 5.0 -0.4
VT Vanguard Total World Stock ETF 73.6 8 12 5.4 +0.1
TOK iShares MSCI Kokusai ETF 73.1 25 -5 4.9 -0.4
KOKU Xtrackers MSCI Kokusai Equity ETF 72.5 9 11 5.0 -0.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 58.2 9 11 5.1 -0.2
PBUS Invesco PureBeta MSCI USA ETF 55.1 4 16 4.6 -0.7
IYY iShares Dow Jones U.S. ETF 54.9 20 0 4.4 -0.9
SCHX Schwab U.S. Large-Cap ETF 54.8 3 17 4.6 -0.8
SCHB Schwab U.S. Broad Market ETF 54.7 3 17 4.5 -0.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 54.7 3 17 4.4 -0.9
IWB iShares Russell 1000 ETF 54.6 15 5 4.5 -0.9
VTHR Vanguard Russell 3000 Index Fund 54.5 10 10 4.4 -0.9
VTI Vanguard Total Stock Market Index Fund 54.5 3 17 4.4 -0.9
SCHK Schwab 1000 Index ETF 54.5 5 15 4.6 -0.7
IWV iShares Russell 3000 ETF 54.5 20 0 4.3 -1.0
VONE Vanguard Russell 1000 ETF 54.4 8 12 4.6 -0.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 54.4 2 18 4.6 -0.7
QWLD SPDR MSCI World StrategicFactors ETF 54.3 30 -10 5.4 +0.1
VV Vanguard Large-Cap Index Fund 53.9 4 16 4.6 -0.7
JHML John Hancock Multifactor Large Cap ETF 53.8 29 -9 4.9 -0.5
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 53.7 25 -5 4.9 -0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 53.6 7 13 4.5 -0.8
DFAU Dimensional US Core Equity Market ETF 52.8 12 8 4.7 -0.6
SFY SoFi Select 500 ETF 52.0 0 20 4.6 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 52.0 3 17 4.8 -0.5
XYLG Global X S&P 500 Covered Call & Growth ETF 51.8 60 -40 4.4 -0.9
PBP Invesco S&P 500 BuyWrite ETF 51.8 49 -29 4.3 -1.0
SPLG SPDR Portfolio Large Cap ETF 51.8 3 17 4.7 -0.6
IVV iShares Core S&P 500 ETF 51.7 3 17 4.7 -0.6
SPY SPDR S&P 500 ETF Trust 51.7 9 11 4.7 -0.7
VOO VANGUARD S&P 500 ETF 51.6 3 17 4.8 -0.5
SPXE ProShares S&P 500 Ex-Energy ETF 50.8 27 -7 4.6 -0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 50.6 20 0 4.8 -0.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 50.4 42 -22 4.6 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 48.6 9 11 4.8 -0.5
ESGU iShares MSCI USA ESG Optimized ETF 48.4 15 5 4.4 -0.9
ESGV Vanguard ESG U.S. Stock ETF 48.4 12 8 4.5 -0.9
AVUS Avantis U.S. Equity ETF 47.5 15 5 4.8 -0.5
XVV iShares ESG Screened S&P 500 ETF 47.4 8 12 4.9 -0.5
MGC Vanguard Mega Cap Index Fund 45.5 7 13 4.6 -0.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 45.0 20 0 4.6 -0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 45.0 12 8 4.0 -1.3
SPXN ProShares S&P 500 Ex-Financials ETF 44.7 27 -7 4.3 -1.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 44.6 30 -10 5.3 -0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 44.2 27 -7 4.3 -1.0
BKLC BNY Mellon US Large Cap Core Equity ETF 44.1 0 20 4.4 -0.9
EPS WisdomTree U.S. Earnings 500 Fund 44.0 8 12 5.9 +0.6
PRF Invesco FTSE RAFI US 1000 ETF 43.8 39 -19 5.7 +0.4
IWL iShares Russell Top 200 ETF 43.7 15 5 4.4 -0.9
QUS SPDR MSCI USA StrategicFactors ETF 43.3 15 5 5.3 -0.1
CATH Global X S&P 500 Catholic Values Custom ETF 43.2 29 -9 4.6 -0.8
JCTR JPMorgan Carbon Transition U.S. Equity ETF 42.7 15 5 4.7 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 41.9 25 -5 5.7 +0.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 41.6 25 -5 5.7 +0.3
IQSU IQ Candriam ESG US Equity ETF 40.7 9 11 4.5 -0.8
RWL Invesco S&P 500 Revenue ETF 40.5 39 -19 6.3 +1.0
VLU SPDR S&P 1500 Value Tilt ETF 39.9 12 8 6.2 +0.9
IUS Invesco Strategic US ETF 39.5 19 1 5.5 +0.2
DIVB iShares U.S. Dividend & Buyback ETF 39.4 25 -5 5.9 +0.6
SNPE Xtrackers S&P 500 ESG ETF 39.0 10 10 4.6 -0.8
EFIV SPDR S&P 500 ESG ETF 39.0 10 10 4.6 -0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 38.8 40 -20 6.1 +0.8
IXUS ishares Core MSCI Total International Stock ETF 38.6 9 11 6.4 +1.1
ACWX iShares MSCI ACWI ex U.S. ETF 38.5 32 -12 6.3 +1.0
VEU Vanguard FTSE All-World ex-US Index Fund 38.2 8 12 6.7 +1.4
ESG FlexShares STOXX US ESG Impact Index Fund 38.0 32 -12 4.5 -0.9
VXUS Vanguard Total International Stock ETF 37.2 8 12 6.6 +1.3
IUSG iShares Core S&P US Growth ETF 37.0 4 16 3.6 -1.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 37.0 30 -10 5.1 -0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 36.8 4 16 3.6 -1.7
IVW iShares S&P 500 Growth ETF 36.8 18 2 3.5 -1.8
VOOG Vanguard S&P 500 Growth ETF 36.7 10 10 3.9 -1.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 36.7 60 -40 3.6 -1.8
SPXT ProShares S&P 500 Ex-Technology ETF 36.7 27 -7 4.9 -0.5
OEF iShares S&P 100 ETF 35.3 20 0 4.2 -1.1
IWF iShares Russell 1000 Growth ETF 35.1 19 1 3.4 -1.9
VONG Vanguard Russell 1000 Growth Index Fund 35.1 8 12 3.5 -1.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 34.4 9 11 5.0 -0.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 34.2 15 5 0.0 -5.3
RESP WisdomTree US ESG Fund of Benef Interest 34.0 28 -8 5.0 -0.3
EUSA iShares MSCI USA Equal Weighted ETF 34.0 15 5 5.2 -0.2
VOOV Vanguard S&P 500 Value ETF 33.5 10 10 6.6 +1.3
IUSV iShares Core S&P U.S. Value ETF 33.4 4 16 6.5 +1.2
SPYV SPDR Portfolio S&P 500 Value ETF 33.4 4 16 6.5 +1.1
IVE iShares S&P 500 Value ETF 33.3 18 2 6.3 +1.0
KRMA Global X Conscious Companies ETF 33.2 43 -23 4.8 -0.5
SIZE iShares MSCI USA Size Factor ETF 33.1 15 5 5.2 -0.1
DTD WisdomTree U.S.Total Dividend Fund 33.0 28 -8 6.2 +0.9
AFLG First Trust Active Factor Large Cap ETF 33.0 55 -35 4.7 -0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 32.9 28 -8 6.1 +0.8
RSP Invesco S&P 500 Equal Weight ETF 32.8 20 0 5.6 +0.3
CWI SPDR MSCI ACWI ex-US ETF 32.3 30 -10 6.2 +0.8
VUG Vanguard Growth Index Fund 32.1 4 16 3.5 -1.8
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF 31.9 50 -30 3.3 -2.0
HIPR Direxion High Growth ETF 31.9 40 -20 3.8 -1.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 31.5 75 -55 2.0 -3.3

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 13.6 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.48
 
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.