SPDR S&P North American Natural Resources ETF
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
28.4x P/Sales
ratio
1.0x
P/BV
ratio
1.0x Div.
yield
4.0%


  • 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) $447
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 41
Wgt avg mkt cap (mns) $43,022
Large cap (>$10bn) 77.9%
Mid cap ($2-10bn) 21.9%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEWMONT MINING CORP 10.8 %
CHEVRON CORP 9.7 %
BARRICK GOLD CORP 9.6 %
EXXON MOBIL CORP 9.3 %
FRANCO-NEVADA CORP 5.5 %
ARCHER-DANIELS-MIDLAND CO 5.3 %
NUTRIEN LTD. 5.3 %
SILVER WHEATON CORP 3.6 %
CONOCOPHILLIPS 3.4 %
FREEPORT-MCMORAN COPPER 2.9 %
Total 65.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 56.2 %
CANADA 38.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-35.2% -31.5% -- -- -0.8%

Market Correlations
versus... Beta R-squared
S&P500 1.17 67%
MSCI EAFE 1.26 75%
MSCI Emg. Mkts. 1.01 70%

Technical Indicators
Recent close $22.72
30d moving avg. $24.67
Annualized volatility 21.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 31

Liquidity measures
Avg. volume (thou.) 229
Turnover 1.2%
Bid/Ask (% of price) 0.73%
ADV underlying (mns) $8,984

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR S&P North American Natural Resources ETF 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™: 5.4%


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
(%)
GUNR Flexshares Morningstar Global Upstream Natural Resources 37.0 46 -11 8.0 +2.6
SGDM Sprott Gold Miners ETF 35.2 50 -15 3.3 -2.1
IGE iShares North American Natural Resources ETF 34.5 46 -11 6.0 +0.7
FILL iShares MSCI Global Energy Producers ETF 32.2 39 -4 8.2 +2.9
IXC iShares Global Energy ETF 31.8 46 -11 7.2 +1.8
IYE iShares U.S. Energy ETF 30.1 42 -7 6.1 +0.7
FENY Fidelity MSCI Energy Index ETF 30.0 8 27 6.1 +0.7
VDE Vanguard Energy Index Fund 30.0 10 25 6.0 +0.7
XLE Energy Select Sector SPDR Fund 30.0 13 22 6.4 +1.0
JHME John Hancock Multifactor Energy ETF 27.1 40 -5 6.2 +0.9
RING iShares MSCI Global Gold Miners ETF 27.0 39 -4 4.8 -0.6
GNR SPDR S&P Global Natural Resources ETF 23.1 40 -5 8.7 +3.3
FXN First Trust Energy AlphaDEX Fund 21.3 65 -30 8.4 +3.1
RYE Invesco S&P 500 Equal Weight Energy ETF 20.6 40 -5 5.5 +0.1
HAP VanEck Vectors Natural Resources ETF 20.0 50 -15 8.3 +3.0
FTXN First Trust Nasdaq Oil & Gas ETF 19.9 60 -25 7.2 +1.8
XOP SPDR S&P Oil & Gas Exploration & Production ETF 18.3 35 0 6.3 +0.9
VEGI iShares MSCI Global Agriculture Producers ETF 17.7 39 -4 8.0 +2.7
FDL First Trust Morningstar Dividend Leaders Index Fund 17.2 45 -10 10.9 +5.6
HDV iShares Core High Dividend ETF 16.8 8 27 8.1 +2.8
EWC iShares MSCI Canada ETF 14.9 49 -14 8.8 +3.4
IYM iShares U.S. Basic Materials ETF 14.8 42 -7 8.2 +2.9
BBCA JPMorgan BetaBuilders Canada ETF 14.3 19 16 9.0 +3.6
GRES IQ Global Resources ETF 14.0 77 -42 9.0 +3.7
FLCA Franklin FTSE Canada ETF 13.8 9 26 9.2 +3.8
QCAN SPDR MSCI Canada Quality Mix ETF 13.5 14 21 8.9 +3.5
RTM Invesco S&P 500 Equal Weight Materials ETF 13.5 40 -5 8.8 +3.4
GDX VanEck Vectors Gold Miners ETF 13.1 52 -17 4.1 -1.3
PYZ Invesco DWA Basic Materials Momentum ETF 13.0 60 -25 7.7 +2.4
PXI Invesco DWA Energy Momentum ETF 12.6 60 -25 3.3 -2.0
XLB Materials Select Sector SPDR Fund 12.4 13 22 8.3 +2.9
MXI iShares Global Materials ETF 12.3 46 -11 8.4 +3.1
FTAG First Trust Indxx Global Agriculture ETF 12.3 70 -35 9.2 +3.8
XME SPDR S&P Metals & Mining ETF 12.2 35 0 13.0 +7.6
DIET Defiance Next Gen Food & Agriculture ETF 11.7 30 5 6.3 +1.0
JHMA John Hancock Multifactor Materials ETF 11.6 40 -5 9.1 +3.7
MOO VanEck Vectors Agribusiness ETF 11.3 54 -19 7.5 +2.2
SLVP iShares MSCI Global Silver Miners ETF 11.3 39 -4 2.7 -2.7
FRAK VanEck Vectors Unconventional Oil & Gas ETF 11.2 54 -19 4.3 -1.1
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 10.6 60 -25 4.3 -1.1
VAW Vanguard Materials Index Fund 10.3 10 25 8.7 +3.4
FMAT Fidelity MSCI Materials Index ETF 10.2 8 27 8.7 +3.3
IEO iShares U.S. Oil & Gas Exploration & Production ETF 10.0 42 -7 6.3 +1.0
EQRR ProShares Equities for Rising Rates ETF 9.9 35 0 11.7 +6.3
FCAN First Trust Canada AlphaDex Fund 8.8 80 -45 7.3 +1.9
FXZ First Trust Materials AlphaDEX Fund 8.6 65 -30 10.3 +4.9
FTRI First Trust Indxx Global Natural Resources Income ETF 8.0 70 -35 13.7 +8.3
DJD Invesco Dow Jones Industrial Average Dividend ETF 7.6 7 28 8.3 +3.0
SOIL Global X Fertilizers/Potash ETF 7.4 69 -34 7.2 +1.8
RPV Invesco S&P 500 Pure Value ETF 7.2 35 0 17.6 +12.3
MAGA Point Bridge GOP Stock Tracker ETF 7.2 72 -37 9.4 +4.0
FTA First Trust Large Cap Value AlphaDEX Fund 7.0 60 -25 12.1 +6.8
HLAL Wahed FTSE USA Shariah ETF 6.9 50 -15 6.2 +0.8
FTXG First Trust Nasdaq Food & Beverage ETF 6.9 60 -25 7.2 +1.8
OUSA O'Shares FTSE US Quality Dividend ETF 6.6 48 -13 7.0 +1.6
FMK First Trust Mega Cap AlphaDEX Fund 6.5 70 -35 7.0 +1.7
JKF iShares Morningstar Large Cap Value ETF 6.4 25 10 9.5 +4.1
LVHD Legg Mason Low Volatility High Dividend ETF 6.3 27 8 8.6 +3.3
PXE Invesco Dynamic Energy Exploration & Production ETF 6.2 63 -28 4.5 -0.8
PEY Invesco High Yield Equity Dividend Achievers ETF 6.2 53 -18 9.8 +4.5
URA Global X Uranium ETF 6.0 69 -34 5.8 +0.4
SPVU Invesco S&P 500 Enhanced Value ETF 5.8 13 22 15.9 +10.6
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 5.8 49 -14 11.2 +5.8
SPHB Invesco S&P 500 High Beta ETF 5.8 25 10 11.4 +6.1
COPX Global X Copper Miners ETF 5.7 65 -30 11.2 +5.8
DVOP Source Dividend Opportunity ETF 5.5 50 -15 11.2 +5.8
DHS WisdomTree U.S. High Dividend Fund 5.5 38 -3 10.5 +5.1
FDVV Fidelity Core Dividend ETF 5.4 29 6 9.7 +4.3
ABEQ Absolute Core Strategy ETF 5.4 85 -50 6.0 +0.6
USDY Pacific Global US Equity Income ETF 5.3 29 6 10.5 +5.2
FCG First Trust Natural Gas ETF 5.1 60 -25 14.6 +9.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 5.1 19 16 7.6 +2.2
VOE Vanguard Mid-Cap Value Index Fund 5.1 7 28 10.8 +5.5
IWX iShares Russell Top 200 Value ETF 5.0 20 15 8.7 +3.4
QDIV Global X S&P 500 Quality Dividend ETF 5.0 20 15 10.8 +5.4
DEW WisdomTree Global High Dividend Fund 5.0 58 -23 11.4 +6.0
PRF Invesco FTSE RAFI US 1000 ETF 4.9 39 -4 9.2 +3.8
SCHD Schwab U.S. Dividend Equity ETF 4.9 6 29 9.2 +3.8
EDOW First Trust Dow 30 Equal Weight ETF 4.9 50 -15 7.2 +1.9
DURA VanEck Vectors Morningstar Durable Dividend ETF 4.9 29 6 8.4 +3.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 4.9 25 10 8.3 +3.0
VONV Vanguard Russell 1000 Value Index Fund 4.8 8 27 9.3 +3.9
RDIV Invesco S&P Ultra Dividend Revenue ETF 4.8 39 -4 15.1 +9.7
FVL First Trust Value Line 100 Exchange-Traded Fund 4.8 70 -35 5.5 +0.2
DIV Global X SuperDividend US ETF 4.8 45 -10 15.1 +9.7
DLN WisdomTree U.S. LargeCap Dividend Fund 4.7 28 7 8.0 +2.6
SFYF SoFi 50 ETF 4.7 29 6 8.4 +3.1
IWD iShares Russell 1000 Value ETF 4.7 19 16 9.1 +3.8
ESGS Columbia Sustainable U.S. Equity Income ETF 4.6 35 0 12.1 +6.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 4.5 25 10 8.4 +3.0
EQAL Invesco Russell 1000 Equal Weight ETF 4.5 20 15 7.6 +2.3
VOOV Vanguard S&P 500 Value ETF 4.5 15 20 9.2 +3.8
PFM Invesco Dividend Achievers ETF 4.5 54 -19 6.4 +1.1
SPYV SPDR Portfolio S&P 500 Value ETF 4.4 4 31 9.2 +3.9
IVE iShares S&P 500 Value ETF 4.4 18 17 9.1 +3.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 4.4 60 -25 9.1 +3.8
PBJ Invesco Dynamic Food & Beverage ETF 4.4 63 -28 6.7 +1.3
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 4.4 49 -14 6.1 +0.8
DTD WisdomTree U.S.Total Dividend Fund 4.3 28 7 8.5 +3.1
FEX First Trust Large Cap Core AlphaDEX Fund 4.3 60 -25 8.1 +2.7

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 North American Natural Resources 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 5.6 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 CATEGORY
AVERAGE
1.50
 
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.