SPDR S&P 1500 Momentum Tilt ETF
ALTAR
Score™		 4.4% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 27.6x P/Sales
ratio		 3.2x
P/BV
ratio		 5.4x Div.
yield		 1.2%


  • 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) $74
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 1376
Wgt avg mkt cap (mns) $621,583
Large cap (>$10bn) 94.7%
Mid cap ($2-10bn) 4.4%
Small cap (<$2bn) 0.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 11.4 %
MICROSOFT CORP 9.5 %
AMAZON.COM INC 7.1 %
FACEBOOK 2.5 %
NVIDIA CORP 1.7 %
ALPHABET INC. CLASS A 1.7 %
ALPHABET INC. CLASS C 1.6 %
PAYPAL HOLDINGS INC 1.4 %
JOHNSON & JOHNSON 1.3 %
UNITEDHEALTH GROUP INC 1.3 %
Total 39.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.7 %
IRELAND 1.1 %
BRITAIN 0.8 %
SWITZERLAND 0.2 %
BERMUDA 0.1 %
CAYMAN ISLANDS 0.0 %
PUERTO RICO 0.0 %
NETHERLANDS 0.0 %



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.
4.8% 12.5% 11.5% -- 13.7%

Market Correlations
versus... Beta R-squared
S&P500 0.97 96%
MSCI EAFE 0.95 78%
MSCI Emg. Mkts. 0.68 65%

Technical Indicators
Recent close $147.58
30d moving avg. $139.43
Annualized volatility 17.0%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.4%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $228,518

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™: 4.4%


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
(%)
IUSG iShares Core S&P US Growth ETF 78.4 4 8 4.2 -0.3
VOOG Vanguard S&P 500 Growth ETF 76.6 10 2 4.1 -0.4
SPYG SPDR Portfolio S&P 500 Growth ETF 76.6 4 8 4.2 -0.3
IVW iShares S&P 500 Growth ETF 76.5 18 -6 4.0 -0.4
PBP Invesco S&P 500 BuyWrite ETF 76.1 49 -37 4.8 +0.4
SPXE ProShares S&P 500 Ex-Energy ETF 75.5 27 -15 5.1 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 75.1 20 -8 5.1 +0.7
SPTM SPDR Portfolio Total Stock Market ETF 75.1 3 9 5.3 +0.9
HSPX Global X S&P 500 Covered Call ETF 75.1 65 -53 4.7 +0.2
SPY SPDR S&P 500 ETF Trust 74.5 9 3 5.2 +0.7
SPLG SPDR Portfolio Large Cap ETF 74.4 3 9 5.2 +0.8
IVV iShares Core S&P 500 ETF 74.4 4 8 5.2 +0.8
SPXN ProShares S&P 500 Ex-Financials ETF 74.2 27 -15 4.8 +0.3
VOO VANGUARD S&P 500 ETF 74.2 3 9 5.2 +0.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 72.6 7 5 5.0 +0.6
PBUS Invesco PureBeta MSCI USA ETF 72.4 4 8 5.1 +0.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 72.2 2 10 5.1 +0.7
SCHX Schwab U.S. Large-Cap ETF 72.1 3 9 5.1 +0.7
SCHK Schwab 1000 Index ETF 71.8 5 7 5.1 +0.6
VONG Vanguard Russell 1000 Growth Index Fund 71.7 8 4 3.7 -0.8
IWF iShares Russell 1000 Growth ETF 71.7 19 -7 3.6 -0.9
IYY iShares Dow Jones U.S. ETF 71.6 20 -8 5.0 +0.5
BKLC BNY Mellon US Large Cap Core Equity ETF 71.6 0 12 4.9 +0.5
VONE Vanguard Russell 1000 ETF 71.4 8 4 5.0 +0.6
IWB iShares Russell 1000 ETF 71.3 15 -3 4.9 +0.5
VV Vanguard Large-Cap Index Fund 71.2 4 8 5.0 +0.6
IWL iShares Russell Top 200 ETF 71.2 15 -3 4.8 +0.3
SCHB Schwab U.S. Broad Market ETF 71.0 3 9 5.0 +0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 70.7 3 9 5.0 +0.5
MGC Vanguard Mega Cap Index Fund 70.5 7 5 5.0 +0.6
IWV iShares Russell 3000 ETF 70.4 20 -8 4.8 +0.4
VTHR Vanguard Russell 3000 Index Fund 70.3 10 2 4.9 +0.4
IQSU IQ Candriam ESG US Equity ETF 70.1 9 3 4.9 +0.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 69.9 60 -48 4.0 -0.5
ESGV Vanguard ESG U.S. Stock ETF 69.8 12 0 4.9 +0.5
VTI Vanguard Total Stock Market Index Fund 69.2 3 9 4.9 +0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 69.2 20 -8 4.7 +0.3
SNPE Xtrackers S&P 500 ESG ETF 69.1 11 1 4.9 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 68.7 27 -15 4.8 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 67.4 15 -3 4.9 +0.5
SCHG Schwab U.S. Large-Cap Growth ETF 66.9 4 8 3.9 -0.5
CATH Global X S&P 500 Catholic Values Custom ETF 66.2 29 -17 5.0 +0.6
IWY iShares Russell Top 200 Growth ETF 65.7 20 -8 3.7 -0.8
VUG Vanguard Growth Index Fund 65.6 4 8 3.8 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 65.4 9 3 5.3 +0.9
SFY SoFi Select 500 ETF 65.3 0 12 5.0 +0.6
OEF iShares S&P 100 ETF 65.1 20 -8 4.6 +0.2
MGK Vanguard Mega Cap Growth ETF 61.2 7 5 3.9 -0.6
JHML John Hancock Multifactor Large Cap ETF 60.9 29 -17 5.4 +0.9
XLG Invesco S&P 500 Top 50 ETF 60.8 20 -8 4.3 -0.2
AVUS Avantis U.S. Equity ETF 59.8 15 -3 5.5 +1.0
EPS WisdomTree U.S. Earnings 500 Fund 58.6 8 4 6.3 +1.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 58.2 49 -37 3.8 -0.6
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 57.6 25 -13 6.3 +1.8
TMFC Motley Fool 100 Index ETF 57.6 50 -38 3.3 -1.2
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 57.5 21 -9 3.0 -1.5
KOKU Xtrackers MSCI Kokusai Equity ETF 56.5 9 3 5.5 +1.1
SPXT ProShares S&P 500 Ex-Technology ETF 56.5 27 -15 5.4 +1.0
TOK iShares MSCI Kokusai ETF 56.4 25 -13 5.4 +1.0
ESG FlexShares STOXX US ESG Impact Index Fund 55.9 32 -20 4.9 +0.4
IETC iShares Evolved U.S. Technology ETF 54.6 18 -6 3.6 -0.8
URTH iShares MSCI World ETF 53.1 24 -12 5.5 +1.1
HIPR Direxion High Growth ETF 52.8 40 -28 4.3 -0.1
QQQ Invesco QQQ Trust 52.8 20 -8 3.7 -0.8
QYLD Global X NASDAQ 100 Covered Call ETF 52.8 60 -48 3.4 -1.1
NUSI Nationwide Risk-Managed Income ETF 52.8 68 -56 3.3 -1.1
QUS SPDR MSCI USA StrategicFactors ETF 51.9 15 -3 5.7 +1.2
DSI iShares MSCI KLD 400 Social ETF 51.9 25 -13 5.0 +0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 51.3 25 -13 6.2 +1.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 51.0 25 -13 6.2 +1.8
EXT WisdomTree U.S. Total Earnings Fund 50.8 28 -16 5.0 +0.6
IGM iShares Expanded Tech Sector ETF 50.2 46 -34 3.6 -0.8
RECS Columbia Research Enhanced Core ETF 49.9 15 -3 5.4 +1.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 49.4 15 -3 6.0 +1.6
PRF Invesco FTSE RAFI US 1000 ETF 49.0 39 -27 6.6 +2.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 48.8 30 -18 6.3 +1.8
IUS Invesco Strategic US ETF 48.7 19 -7 6.3 +1.9
AFLG First Trust Active Factor Large Cap ETF 48.6 55 -43 5.3 +0.9
SUSL iShares ESG MSCI USA Leaders ETF 47.7 10 2 5.2 +0.7
ACWI iShares MSCI ACWI ETF 47.7 32 -20 5.7 +1.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 47.6 10 2 5.2 +0.7
DIVB iShares U.S. Dividend & Buyback ETF 47.6 25 -13 6.4 +2.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 47.2 29 -17 5.8 +1.4
NACP Impact Shares NAACP Minority Empowerment ETF 47.1 75 -63 4.5 +0.1
FDMO Fidelity Momentum Factor ETF 47.1 29 -17 3.7 -0.8
SYG SPDR MFS Systematic Growth Equity ETF 47.0 60 -48 4.1 -0.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 47.0 75 -63 3.8 -0.7
MTUM iShares Edge MSCI USA Momentum Factor ETF 46.6 15 -3 4.1 -0.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 46.5 42 -30 5.3 +0.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 46.5 20 -8 5.9 +1.5
LOWC SPDR MSCI ACWI Low Carbon Target ETF 46.2 20 -8 5.9 +1.5
DTD WisdomTree U.S.Total Dividend Fund 46.1 28 -16 6.5 +2.0
VEGN US Vegan Climate ETF 45.8 60 -48 5.0 +0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 45.8 28 -16 6.3 +1.8
VLU SPDR S&P 1500 Value Tilt ETF 45.1 12 0 7.2 +2.8
VT Vanguard Total World Stock Index Fund 44.8 8 4 6.0 +1.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 44.7 19 -7 5.9 +1.4
KRMA Global X Conscious Companies ETF 43.1 43 -31 5.0 +0.6
STLG iShares Factors US Growth Style ETF 43.0 25 -13 3.5 -1.0
RWL Invesco S&P 500 Revenue ETF 42.6 39 -27 7.0 +2.6

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 22.2 %
Divided by: Fwd. P/BV 4.9 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 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.