SPDR S&P 1500 Momentum Tilt ETF
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.2x P/Sales
ratio
2.7x
P/BV
ratio
4.4x Div.
yield
1.5%


  • 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 25, 2012
Assets (mns) $69
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 1358
Wgt avg mkt cap (mns) $455,506
Large cap (>$10bn) 94.5%
Mid cap ($2-10bn) 4.6%
Small cap (<$2bn) 0.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 9.1 %
MICROSOFT CORP 9.0 %
AMAZON.COM INC 4.7 %
ALPHABET INC. CLASS C 1.8 %
ALPHABET INC. CLASS A 1.7 %
UNITEDHEALTH GROUP INC 1.7 %
NVIDIA CORP 1.6 %
PROCTER & GAMBLE CO/THE 1.6 %
INTEL CORP 1.5 %
VISA INC-CLASS A SHARES 1.4 %
Total 33.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
IRELAND 1.5 %
BRITAIN 0.8 %
SWITZERLAND 0.2 %
BERMUDA 0.1 %






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.
-4.7% 10.4% 9.7% -- 12.6%

Market Correlations
versus... Beta R-squared
S&P500 0.97 96%
MSCI EAFE 0.94 78%
MSCI Emg. Mkts. 0.69 64%

Technical Indicators
Recent close $131.65
30d moving avg. $126.42
Annualized volatility 16.7%
Short interest (ETF) 3.4%
Short interest (Underlying) 2.4%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 8
Turnover 1.5%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $278,898

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.1%


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
(%)
PBP Invesco S&P 500 BuyWrite ETF 78.2 49 -37 5.1 0.0
HSPX Global X S&P 500 Covered Call ETF 76.9 65 -53 4.9 -0.2
SPXE ProShares S&P 500 Ex-Energy ETF 75.4 27 -15 5.4 +0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 74.8 20 -8 5.5 +0.4
SPTM SPDR Portfolio Total Stock Market ETF 74.6 3 9 5.6 +0.5
SPLG SPDR Portfolio Large Cap ETF 74.3 3 9 5.5 +0.4
IVV iShares Core S&P 500 ETF 74.2 4 8 5.5 +0.4
SPY SPDR S&P 500 ETF Trust 74.2 9 3 5.4 +0.3
VOO VANGUARD S&P 500 ETF 73.8 3 9 5.5 +0.4
SPXN ProShares S&P 500 Ex-Financials ETF 73.5 27 -15 5.1 +0.0
PBUS Invesco PureBeta MSCI USA ETF 73.0 4 8 5.3 +0.2
IUSG iShares Core S&P US Growth ETF 72.5 4 8 4.5 -0.6
VV Vanguard Large-Cap Index Fund 72.4 4 8 5.3 +0.2
SCHX Schwab U.S. Large-Cap ETF 72.1 3 9 5.4 +0.3
MGC Vanguard Mega Cap Index Fund 71.9 7 5 5.3 +0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 71.8 2 10 5.4 +0.3
SCHK Schwab 1000 Index ETF 71.8 5 7 5.3 +0.2
IYY iShares Dow Jones U.S. ETF 71.5 20 -8 5.2 +0.1
IWB iShares Russell 1000 ETF 71.5 15 -3 5.2 +0.1
VONE Vanguard Russell 1000 ETF 70.9 8 4 5.3 +0.2
SPYG SPDR Portfolio S&P 500 Growth ETF 70.9 4 8 4.5 -0.6
IVW iShares S&P 500 Growth ETF 70.9 18 -6 4.3 -0.8
SCHB Schwab U.S. Broad Market ETF 70.7 3 9 5.3 +0.2
VOOG Vanguard S&P 500 Growth ETF 70.7 10 2 4.4 -0.7
VTI Vanguard Total Stock Market Index Fund 70.6 3 9 5.2 +0.1
IWL iShares Russell Top 200 ETF 70.6 15 -3 5.1 +0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 70.5 3 9 5.2 +0.1
IWV iShares Russell 3000 ETF 70.5 20 -8 5.1 -0.0
ESGV Vanguard ESG U.S. Stock ETF 70.5 12 0 5.3 +0.2
VTHR Vanguard Russell 3000 Index Fund 70.1 10 2 5.2 +0.1
SNPE Xtrackers S&P 500 ESG ETF 69.1 11 1 5.2 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 68.9 20 -8 5.0 -0.1
IQSU IQ Candriam ESG US Equity ETF 68.5 9 3 5.3 +0.2
SFY SoFi Select 500 ETF 67.2 0 12 5.3 +0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 66.7 9 3 5.6 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 66.7 27 -15 5.1 +0.0
IWF iShares Russell 1000 Growth ETF 66.0 19 -7 4.3 -0.8
VONG Vanguard Russell 1000 Growth Index Fund 66.0 8 4 4.4 -0.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 65.9 60 -48 4.6 -0.5
CATH Global X S&P 500 Catholic Values Custom ETF 64.6 29 -17 5.3 +0.2
OEF iShares S&P 100 ETF 64.2 20 -8 4.9 -0.2
ESGU iShares MSCI USA ESG Optimized ETF 63.3 15 -3 5.1 +0.0
SCHG Schwab U.S. Large-Cap Growth ETF 62.4 4 8 4.3 -0.8
JHML John Hancock Multifactor Large Cap ETF 61.3 34 -22 5.5 +0.4
IWY iShares Russell Top 200 Growth ETF 60.0 20 -8 4.3 -0.8
VUG Vanguard Growth Index Fund 59.8 4 8 4.2 -0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 59.3 25 -13 6.1 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 59.2 27 -15 5.6 +0.5
EPS WisdomTree U.S. Earnings 500 Fund 59.0 8 4 6.4 +1.3
AVUS Avantis U.S. Equity ETF 58.5 15 -3 5.7 +0.6
IUS Invesco Strategic US ETF 58.4 19 -7 6.2 +1.1
QUS SPDR MSCI USA StrategicFactors ETF 57.7 15 -3 5.8 +0.7
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 57.0 29 -17 4.3 -0.8
TOK iShares MSCI Kokusai ETF 56.2 25 -13 5.7 +0.6
XLG Invesco S&P 500 Top 50 ETF 55.4 20 -8 4.7 -0.4
ESG FlexShares STOXX US ESG Impact Index Fund 55.0 32 -20 5.2 +0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 54.7 25 -13 6.4 +1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 54.7 25 -13 6.4 +1.3
MGK Vanguard Mega Cap Growth ETF 54.6 7 5 4.3 -0.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 54.4 49 -37 4.2 -0.9
TMFC Motley Fool 100 Index ETF 54.1 50 -38 4.0 -1.1
RECS Columbia Research Enhanced Core ETF 52.9 15 -3 5.6 +0.5
URTH iShares MSCI World ETF 52.6 24 -12 5.8 +0.7
DSI iShares MSCI KLD 400 Social ETF 52.0 25 -13 5.2 +0.1
NACP Impact Shares NAACP Minority Empowerment ETF 51.1 75 -63 4.5 -0.6
PRF Invesco FTSE RAFI US 1000 ETF 50.9 39 -27 6.6 +1.5
FDMO Fidelity Momentum Factor ETF 50.8 29 -17 4.0 -1.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 50.1 21 -9 3.2 -1.9
SUSL iShares ESG MSCI USA Leaders ETF 50.1 10 2 5.4 +0.3
WOMN Impact Shares YWCA Women's Empowerment ETF 50.0 75 -63 4.5 -0.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 50.0 10 2 5.4 +0.3
AFLG First Trust Active Factor Large Cap ETF 49.5 55 -43 5.6 +0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 49.3 15 -3 6.2 +1.1
DLN WisdomTree U.S. LargeCap Dividend Fund 49.1 28 -16 6.3 +1.2
DTD WisdomTree U.S.Total Dividend Fund 49.1 28 -16 6.5 +1.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 49.0 29 -17 6.1 +1.0
RWL Invesco S&P 500 Revenue ETF 48.5 39 -27 6.7 +1.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 48.3 30 -18 6.6 +1.5
EXT WisdomTree U.S. Total Earnings Fund 48.2 28 -16 5.7 +0.6
DIVB iShares U.S. Dividend & Buyback ETF 47.7 25 -13 6.3 +1.2
ACWI iShares MSCI ACWI ETF 47.6 32 -20 6.0 +0.9
IETC iShares Evolved U.S. Technology ETF 47.5 18 -6 4.1 -1.0
MTUM iShares Edge MSCI USA Momentum Factor ETF 47.5 15 -3 4.8 -0.3
VEGN US Vegan Climate ETF 47.3 60 -48 5.3 +0.2
ESGG FlexShares STOXX Global ESG Impact Index Fund 46.6 42 -30 5.6 +0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 46.3 20 -8 6.3 +1.2
VLU SPDR S&P 1500 Value Tilt ETF 45.9 12 0 7.1 +2.0
LOWC SPDR MSCI ACWI Low Carbon Target ETF 45.9 20 -8 6.4 +1.3
VT Vanguard Total World Stock Index Fund 45.6 8 4 6.3 +1.2
QQQ Invesco QQQ Trust 45.6 20 -8 4.1 -1.0
QYLD Global X NASDAQ 100 Covered Call ETF 45.6 60 -48 3.7 -1.4
NUSI Nationwide Risk-Managed Income ETF 45.6 68 -56 3.7 -1.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 45.2 19 -7 5.6 +0.5
DGRO iShares Core Dividend Growth ETF 44.5 8 4 6.4 +1.3
QWLD SPDR MSCI World StrategicFactors ETF 44.4 30 -18 6.0 +0.9
SPMO Invesco S&P 500 Momentum ETF 44.1 13 -1 4.5 -0.6
FQAL Fidelity Quality Factor ETF 44.0 29 -17 5.4 +0.3
IUSV iShares Core S&P U.S. Value ETF 43.0 4 8 7.2 +2.1
IGM iShares North American Tech ETF 42.8 46 -34 4.0 -1.1
FDLO Fidelity Low Volatility Factor ETF 42.7 29 -17 5.2 +0.1

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 S&P 1500 Momentum Tilt 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 21.4 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.53
 
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.