SPDR S&P 1500 Momentum Tilt ETF
ALTAR
Score™
4.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
30.4x P/Sales
ratio
3.5x
P/BV
ratio
6.2x Div.
yield
1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P 1500 Momentum Tilt 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 S&P 1500 Positive Momentum Tilt Index.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Oct 24, 2012
Assets (mns) $80
Currency USD
Expense ratio 12 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1356
Wgt avg mkt cap (mns) $704,517
Large cap (>$10bn) 95.2%
Mid cap ($2-10bn) 4.2%
Small cap (<$2bn) 0.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 11.5 %
MICROSOFT CORP 7.6 %
AMAZON.COM INC 7.1 %
FACEBOOK 2.5 %
NVIDIA CORP 1.9 %
PAYPAL HOLDINGS INC 1.7 %
ALPHABET INC. CLASS C 1.6 %
ALPHABET INC. CLASS A 1.5 %
UNITEDHEALTH GROUP INC 1.3 %
JOHNSON & JOHNSON 1.2 %
Total 37.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.6 %
IRELAND 1.3 %
BRITAIN 0.8 %
SWITZERLAND 0.2 %







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.
19.2% 19.2% 14.3% -- 14.8%

Market Correlations
versus... Beta R-squared
S&P500 0.98 96%
MSCI EAFE 0.88 77%
MSCI Emg. Mkts. 0.70 63%

Technical Indicators
Recent close $160.84
30d moving avg. $160.25
Annualized volatility 18.7%
Short interest (ETF) 1.8%
Short interest (Underlying) 2.4%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.8%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $260,147

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SPDR S&P 1500 Momentum Tilt ETF ETF based on the alternatives' overlap in portfolio holdings with MMTM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MMTM Expense: 12 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MMTM
Ticker Fund
Name
Overlap1
vs MMTM
(%)
Expense
ratio
(bp)
Savings
vs MMTM
(bp)
ALTAR
Score™
(%)
ALTAR
vs MMTM
(%)
ESGV Vanguard ESG U.S. Stock ETF 81.2 12 0 4.6 +0.4
IUSG iShares Core S&P US Growth ETF 80.5 4 8 3.8 -0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 78.1 4 8 3.8 -0.3
IVW iShares S&P 500 Growth ETF 78.0 18 -6 3.7 -0.5
VOOG Vanguard S&P 500 Growth ETF 77.3 10 2 4.1 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 73.0 20 -8 4.9 +0.7
PBP Invesco S&P 500 BuyWrite ETF 72.5 49 -37 4.4 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 71.9 27 -15 4.7 +0.6
XYLG Global X S&P 500 Covered Call & Growth ETF 71.8 60 -48 4.4 +0.3
SPTM SPDR Portfolio Total Stock Market ETF 71.7 3 9 4.9 +0.7
VOO VANGUARD S&P 500 ETF 71.6 3 9 4.9 +0.8
SPY SPDR S&P 500 ETF Trust 71.5 9 3 4.8 +0.6
SPXN ProShares S&P 500 Ex-Financials ETF 71.5 27 -15 4.5 +0.4
SPLG SPDR Portfolio Large Cap ETF 71.4 3 9 4.8 +0.7
IVV iShares Core S&P 500 ETF 71.4 3 9 4.8 +0.7
IWF iShares Russell 1000 Growth ETF 69.7 19 -7 3.6 -0.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 69.3 7 5 4.6 +0.5
PBUS Invesco PureBeta MSCI USA ETF 69.1 4 8 4.7 +0.6
MGC Vanguard Mega Cap Index Fund 69.1 7 5 4.7 +0.6
VONG Vanguard Russell 1000 Growth Index Fund 69.0 8 4 3.7 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 69.0 60 -48 3.7 -0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 68.8 0 12 4.6 +0.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 68.5 2 10 4.7 +0.6
SCHX Schwab U.S. Large-Cap ETF 68.4 3 9 4.6 +0.5
IWL iShares Russell Top 200 ETF 68.3 15 -3 4.5 +0.4
SCHK Schwab 1000 Index ETF 68.2 5 7 4.7 +0.5
VTHR Vanguard Russell 3000 Index Fund 67.9 10 2 4.5 +0.3
IWB iShares Russell 1000 ETF 67.9 15 -3 4.6 +0.4
VV Vanguard Large-Cap Index Fund 67.8 4 8 4.7 +0.5
IYY iShares Dow Jones U.S. ETF 67.8 20 -8 4.5 +0.4
EFIV SPDR S&P 500 ESG ETF 66.9 10 2 4.7 +0.5
SNPE Xtrackers S&P 500 ESG ETF 66.8 10 2 4.7 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 66.8 20 -8 4.7 +0.5
IWV iShares Russell 3000 ETF 66.6 20 -8 4.4 +0.2
SCHB Schwab U.S. Broad Market ETF 66.6 3 9 4.5 +0.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 66.3 3 9 4.5 +0.4
SPXV ProShares S&P 500 Ex-Health Care ETF 65.9 27 -15 4.4 +0.2
VTI Vanguard Total Stock Market Index Fund 65.1 3 9 4.5 +0.4
IQSU IQ Candriam ESG US Equity ETF 64.6 9 3 4.6 +0.5
IWY iShares Russell Top 200 Growth ETF 64.1 20 -8 3.7 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 64.0 9 3 4.9 +0.8
VONE Vanguard Russell 1000 ETF 64.0 8 4 4.6 +0.5
VUG Vanguard Growth Index Fund 63.8 4 8 3.6 -0.5
CATH Global X S&P 500 Catholic Values Custom ETF 63.8 29 -17 4.7 +0.5
ESGU iShares MSCI USA ESG Optimized ETF 63.3 15 -3 4.5 +0.4
DFAU Dimensional US Core Equity Market ETF 62.8 12 0 4.7 +0.6
OEF iShares S&P 100 ETF 62.6 20 -8 4.3 +0.2
SFY SoFi Select 500 ETF 62.5 0 12 4.6 +0.5
JCTR JPMorgan Carbon Transition U.S. Equity ETF 60.7 15 -3 4.7 +0.6
HIPR Direxion High Growth ETF 59.8 40 -28 4.0 -0.1
MGK Vanguard Mega Cap Growth ETF 59.7 7 5 3.8 -0.3
SCHG Schwab U.S. Large-Cap Growth ETF 58.9 4 8 3.3 -0.8
XLG Invesco S&P 500 Top 50 ETF 58.6 20 -8 4.2 +0.1
JHML John Hancock Multifactor Large Cap ETF 58.4 29 -17 4.9 +0.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 57.3 49 -37 3.5 -0.6
EPS WisdomTree U.S. Earnings 500 Fund 56.9 8 4 6.0 +1.9
AVUS Avantis U.S. Equity ETF 55.1 15 -3 4.9 +0.8
TMFC Motley Fool 100 Index ETF 54.9 50 -38 3.2 -1.0
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 54.4 21 -9 3.0 -1.1
IETC iShares Evolved U.S. Technology ETF 53.8 18 -6 3.6 -0.5
SPXT ProShares S&P 500 Ex-Technology ETF 53.8 27 -15 4.9 +0.8
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 53.7 25 -13 5.0 +0.8
KOKU Xtrackers MSCI Kokusai Equity ETF 53.7 9 3 5.1 +1.0
TOK iShares MSCI Kokusai ETF 53.6 25 -13 5.0 +0.8
ESG FlexShares STOXX US ESG Impact Index Fund 53.2 32 -20 4.6 +0.4
QUS SPDR MSCI USA StrategicFactors ETF 52.3 15 -3 5.3 +1.2
SPMO Invesco S&P 500 Momentum ETF 51.9 13 -1 4.0 -0.2
QQQM Invesco NASDAQ 100 ETF 50.7 15 -3 3.7 -0.5
QQQ Invesco QQQ Trust 50.7 20 -8 3.6 -0.5
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 50.7 60 -48 3.2 -0.9
QYLD Global X NASDAQ 100 Covered Call ETF 50.7 60 -48 3.2 -1.0
NUSI Nationwide Risk-Managed Income ETF 50.7 68 -56 3.1 -1.0
URTH iShares MSCI World ETF 50.2 24 -12 5.0 +0.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 50.2 30 -18 5.3 +1.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 50.2 30 -18 5.1 +1.0
DSI iShares MSCI KLD 400 Social ETF 50.2 25 -13 4.7 +0.5
RECS Columbia Research Enhanced Core ETF 50.0 15 -3 5.2 +1.1
IGM iShares Expanded Tech Sector ETF 49.4 46 -34 3.4 -0.7
RESP WisdomTree US ESG Fund of Benef Interest 49.0 28 -16 5.2 +1.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 48.7 15 -3 5.8 +1.7
IUS Invesco Strategic US ETF 47.0 19 -7 5.5 +1.4
WOMN Impact Shares YWCA Women's Empowerment ETF 46.9 75 -63 3.6 -0.5
PRF Invesco FTSE RAFI US 1000 ETF 46.7 39 -27 5.8 +1.7
AFLG First Trust Active Factor Large Cap ETF 46.5 55 -43 4.8 +0.6
ACVF American Conservative Values ETF 46.4 75 -63 4.2 +0.0
NACP Impact Shares NAACP Minority Empowerment ETF 46.0 49 -37 4.8 +0.6
FDMO Fidelity Momentum Factor ETF 45.8 29 -17 2.5 -1.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 45.6 25 -13 5.7 +1.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 45.5 25 -13 5.8 +1.7
DIVB iShares U.S. Dividend & Buyback ETF 45.4 25 -13 5.9 +1.8
KRMA Global X Conscious Companies ETF 44.7 43 -31 4.9 +0.8
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 44.4 10 2 4.9 +0.8
SUSL iShares ESG MSCI USA Leaders ETF 44.4 10 2 4.9 +0.8
ACWI iShares MSCI ACWI ETF 44.4 32 -20 5.2 +1.0
DLN WisdomTree U.S. LargeCap Dividend Fund 43.7 28 -16 6.2 +2.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 43.5 20 -8 5.4 +1.3
STLG iShares Factors US Growth Style ETF 43.5 25 -13 4.0 -0.1
SYG SPDR MFS Systematic Growth Equity ETF 43.3 60 -48 3.6 -0.5

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 S&P 1500 Momentum Tilt ETF
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 22.4 %
Divided by: Fwd. P/BV 5.3 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.38 CATEGORY
AVERAGE
1.49
 
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.