SPDR S&P N. American Nat. Resources
ALTAR
Score™
4.2% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.8x P/Sales
ratio
1.3x
P/BV
ratio
1.2x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P North American Natural Resources ETF tracks an index of US and Canadian firms involved in natural resources and commodities businesses. Firms fall into one of three categories: energy, materials or agriculture.

FUND BASICS
Category Global Equities
Fund Sponsor SSgA
Website www.spdrs.com
Inception date Dec 15, 2015
Assets (mns) $731
Currency USD
Expense ratio 35 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $66,448
Large cap (>$10bn) 84.5%
Mid cap ($2-10bn) 15.1%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CHEVRON CORP 10.0 %
EXXON MOBIL CORP 9.7 %
NEWMONT MINING CORP 7.3 %
BARRICK GOLD CORP 7.0 %
NUTRIEN LTD. 4.9 %
FRANCO-NEVADA CORP 4.5 %
CONOCOPHILLIPS 4.4 %
ARCHER-DANIELS-MIDLAND CO 4.0 %
FREEPORT-MCMORAN COPPER 3.9 %
SUNCOR ENERGY INC 3.4 %
Total 59.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 62.6 %
CANADA 36.9 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
7.9% 1.4% -- -- 8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.92 48%
MSCI EAFE 1.01 50%
MSCI Emg. Mkts. 0.70 39%

Technical Indicators
Recent close $31.44
30d moving avg. $31.23
Annualized volatility 15.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 44
Turnover 0.2%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $5,174

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR S&P N. American Nat. Resources ETF based on the alternatives' overlap in portfolio holdings with NANR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NANR Expense: 35 bp ALTAR Score™: 4.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NANR
Ticker Fund
Name
Overlap1
vs NANR
(%)
Expense
ratio
(bp)
Savings
vs NANR
(bp)
ALTAR
Score™
(%)
ALTAR
vs NANR
(%)
IGE iShares North American Natural Resources 38.6 46 -11 4.1 -0.1
FILL iShares MSCI Global Energy Producers 37.5 39 -4 5.7 +1.5
FENY Fidelity MSCI Energy 36.9 8 27 4.1 -0.1
IYE iShares DJ US Energy Sector 36.9 42 -7 4.1 -0.1
VDE Vanguard Energy ETF 36.9 10 25 4.0 -0.2
XLE Energy Select Sector SPDR 36.5 13 22 4.5 +0.3
GUNR Flexshares Global Upstream Natural Resources 36.2 46 -11 5.7 +1.6
IXC iShares S&P Global Energy Sector 35.9 46 -11 5.2 +1.1
JHME John Hancock Multifactor Energy 28.6 40 -5 3.4 -0.7
HAP VanEck Vectors Hard Asset Producers 26.6 50 -15 5.9 +1.8
GDX VanEck Vectors Gold Miners ETF 26.2 52 -17 2.4 -1.7
FTXN First Trust Nasdaq Oil & Gas 26.1 60 -25 2.7 -1.5
GNR SPDR S&P Global Nat. Resources 24.4 40 -5 6.6 +2.4
RYE Invesco S&P Equal Weight Energy ETF 23.1 40 -5 3.6 -0.5
SGDM Sprott Gold Miners 22.5 50 -15 2.7 -1.4
FXN First Trust Energy Alphadex 21.9 63 -28 4.7 +0.5
VEGI iShares MSCI Global Agriculture Producers 19.4 39 -4 7.0 +2.9
FRAK VanEck Vectors Unconventional Oil & Gas 19.0 54 -19 1.7 -2.4
XOP SPDR S&P Oil & Gas Exploration 18.9 35 0 3.8 -0.4
RING iShares MSCI Global Gold Miners 18.8 39 -4 2.9 -1.3

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

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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 N. American Nat. Resources
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 5.4 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 CATEGORY
AVERAGE
1.54
 
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.