SPDR Russell 1000 Momentum Focus
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.9x P/Sales
ratio
1.5x
P/BV
ratio
2.9x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR Russell 1000 Momentum Focus ETF tracks an index of large-cap stocks from the Russell 1000 Index, selected and weighted by four factors (value, quality, small size and momentum) that are scaled by market cap.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.spdrs.com
Inception date Dec 02, 2015
Assets (mns) $445
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian State Street Bank & Trust
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 916
Wgt avg mkt cap (mns) $27,407
Large cap (>$10bn) 65.6%
Mid cap ($2-10bn) 34.1%
Small cap (<$2bn) 0.3%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
LAM RESEARCH CORP 1.1 %
CUMMINS INC 0.7 %
MEDICAL PROPERTIES TRUST INC 0.6 %
SOUTHWEST AIRLINES CO 0.6 %
PULTE HOMES INC 0.5 %
TERADYNE INC 0.5 %
DOLLAR GENERAL CORP 0.5 %
NRG ENERGY INC 0.5 %
PACCAR INC 0.5 %
UNITED CONTINENTAL HOLDINGS 0.5 %
Total 6.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
IRELAND 1.2 %
BRITAIN 0.8 %
BERMUDA 0.6 %
SWITZERLAND 0.4 %
CHINA 0.3 %
CANADA 0.1 %
PUERTO RICO 0.1 %
CAYMAN ISLANDS 0.1 %
PANAMA 0.1 %

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.
20.1% 8.9% -- -- 9.8%

Market Correlations
versus... Beta R-squared
S&P500 1.07 94%
MSCI EAFE 0.92 58%
MSCI Emg. Mkts. 0.61 43%

Technical Indicators
Recent close $75.84
30d moving avg. $73.92
Annualized volatility 13.3%
Short interest (ETF) 0.2%
Short interest (Underlying) 4.4%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.1%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $154,365

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR Russell 1000 Momentum Focus ETF based on the alternatives' overlap in portfolio holdings with ONEO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ONEO Expense: 20 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ONEO
Ticker Fund
Name
Overlap1
vs ONEO
(%)
Expense
ratio
(bp)
Savings
vs ONEO
(bp)
ALTAR
Score™
(%)
ALTAR
vs ONEO
(%)
DEUS Xtrackers Russell 1000 Comprehensive Factor 83.2 17 3 6.4 -0.1
USEQ Invesco Russell 1000 Enhanced Equal Weight 64.1 29 -9 6.7 +0.2
EQAL Invesco Russel 1000 Equal Weight 58.1 20 0 6.0 -0.5
ONEV SPDR Russell 1000 Low Volatility Focus 57.5 20 0 7.0 +0.5
IWR iShares Russell Midcap 57.4 19 1 6.0 -0.5
CFO Victory CEMP US 500 Enhanced Volatility Wtd 56.2 35 -15 6.1 -0.4
CFA Compass EMP US 500 Volatility Weighted 56.1 35 -15 6.1 -0.4
SIZE iShares MSCI USA Size Factor 55.3 15 5 6.4 -0.1
EUSA iShares MSCI USA Equal Weight 54.6 15 5 6.6 +0.1
JHMM John Hancock Multifactor Mid Cap 53.9 44 -24 6.0 -0.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 52.4 9 11 6.5 +0.0
RSP Invesco S&P 500 Equal Weight 52.0 20 0 6.9 +0.4
JHML John Hancock Multifactor Large Cap 49.4 34 -14 6.0 -0.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 49.2 24 -4 6.1 -0.4
JPUS JPMorgan Diversified Return U.S. Equity 48.2 19 1 6.3 -0.2
OSIZ Invesco Russell 1000 Size Factor ETF 47.5 19 1 6.4 -0.1
USLB Invesco Russell 1000 Low Beta Equal Weight 44.7 35 -15 5.9 -0.6
IWS iShares Russell Midcap Value 44.3 24 -4 7.1 +0.6
SCIU Global X Scientific Beta US 43.8 19 1 5.8 -0.7
FEX First Trust Large Cap Core Alphadex 43.4 61 -41 6.4 -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

  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 Russell 1000 Momentum Focus
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.4 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 CATEGORY
AVERAGE
1.55
 
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.