SPDR MSCI EAFE Quality Mix ETF
ALTAR
Score™
8.0% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
14.2x P/Sales
ratio
1.1x
P/BV
ratio
1.4x Div.
yield
3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR MSCI EAFE Quality Mix ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to provide investment results that before fees and expenses, correspond generally to the price and yield performance of the MSCI EAFE Quality Mix Index.

FUND BASICS
Category International Equities
Fund Sponsor SSgA Funds Management
Website www.spdrs.com
Inception date Jun 05, 2014
Assets (mns) $313
Currency USD
Expense ratio 30 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 653
Wgt avg mkt cap (mns) $59,455
Large cap (>$10bn) 79.0%
Mid cap ($2-10bn) 20.9%
Small cap (<$2bn) 0.0%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
ROCHE HOLDING AG-GENUSSCHEIN 3.2 %
NESTLE SA-REG 2.9 %
NOVARTIS AG-REG 2.0 %
NOVO NORDISK A/S-B 1.7 %
ASTRAZENECA PLC 1.6 %
DIAGEO PLC 1.2 %
NTT DOCOMO, INC. 1.1 %
CSL LIMITED 1.1 %
ASML HOLDING NV 1.1 %
LVMH MOET HENNESSY LOUIS VUI 1.1 %
Total 17.1 %

TOP COUNTRY EXPOSURE
JAPAN 26.7 %
BRITAIN 14.7 %
SWITZERLAND 14.0 %
FRANCE 7.6 %
GERMANY 5.3 %
AUSTRALIA 5.1 %
HONG KONG 4.3 %
NETHERLANDS 3.9 %
DENMARK 3.5 %
SWEDEN 2.1 %

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.
-20.0% -11.6% 0.7% -- 0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.77 80%
MSCI EAFE 0.86 97%
MSCI Emg. Mkts. 0.65 82%

Technical Indicators
Recent close $53.42
30d moving avg. $57.05
Annualized volatility 13.1%
Short interest (ETF) 0.1%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 127
Turnover 2.2%
Bid/Ask (% of price) 1.00%
ADV underlying (mns) $49,169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR MSCI EAFE Quality Mix ETF ETF based on the alternatives' overlap in portfolio holdings with QEFA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QEFA Expense: 30 bp ALTAR Score™: 8.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QEFA
Ticker Fund
Name
Overlap1
vs QEFA
(%)
Expense
ratio
(bp)
Savings
vs QEFA
(bp)
ALTAR
Score™
(%)
ALTAR
vs QEFA
(%)
EFA iShares MSCI EAFE ETF 65.1 32 -2 8.8 +0.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 64.7 20 10 8.8 +0.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 63.5 35 -5 8.5 +0.6
HFXI IQ 50 Percent Hedged FTSE International ETF 62.2 20 10 9.2 +1.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 59.9 7 23 9.3 +1.3
IEFA iShares Core MSCI EAFE ETF 59.0 7 23 9.0 +1.0
ESGD iShares MSCI EAFE ESG Optimized ETF 57.5 20 10 8.8 +0.8
JHMD John Hancock Multifactor Developed International ETF 57.1 45 -15 9.1 +1.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 57.0 25 5 8.3 +0.4
IQSI IQ Candriam ESG International Equity ETF 56.9 15 15 8.9 +0.9
SCHF Schwab International Equity ETF 56.8 6 24 9.1 +1.1
IDEV iShares Core MSCI International Developed Markets ETF 55.1 5 25 9.0 +1.0
SPDW SPDR Portfolio Developed World ex-US ETF 54.6 4 26 8.9 +0.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 53.1 20 10 6.6 -1.4
VEA Vanguard FTSE Developed Markets ETF 52.4 5 25 9.2 +1.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 52.2 45 -15 8.1 +0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 52.0 30 0 7.4 -0.6
DWM WisdomTree International Equity Fund 51.9 48 -18 10.3 +2.4
EFG iShares MSCI EAFE Growth ETF 51.9 40 -10 5.8 -2.2
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 51.8 30 0 8.3 +0.3
FLEE Franklin FTSE Europe ETF 51.7 9 21 8.5 +0.6
FLEH Franklin FTSE Europe Hedged ETF 51.6 9 21 8.6 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 51.6 35 -5 10.6 +2.6
BBEU JPMorgan BetaBuilders Europe ETF 51.5 9 21 8.8 +0.9
IEV iShares Europe ETF 51.5 59 -29 8.4 +0.4
PDEV Principal International Multi-Factor Core Index ETF 51.0 25 5 8.2 +0.3
DOL WisdomTree International LargeCap Dividend Fund 50.8 48 -18 10.5 +2.5
IEUR iShares Core MSCI Europe ETF 50.5 9 21 8.9 +0.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 50.1 39 -9 8.0 +0.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 50.0 25 5 8.1 +0.2
VGK Vanguard FTSE Europe ETF 49.6 8 22 9.1 +1.1
FEU SPDR Portfolio Europe ETF 49.2 9 21 8.9 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 49.1 32 -2 9.1 +1.2
CWI SPDR MSCI ACWI ex-US ETF 47.9 30 0 9.1 +1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 47.9 14 16 8.4 +0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 47.8 40 -10 9.0 +1.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 47.7 45 -15 11.1 +3.1
FNDF Schwab Fundamental International Large Co. Index ETF 47.5 25 5 10.8 +2.9
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 47.1 48 -18 0.0 -8.0
VEU Vanguard FTSE All-World ex-US Index Fund 46.9 8 22 9.4 +1.4
CIL Victory CEMP International Volatility Weighted Index ETF 46.3 45 -15 8.9 +0.9
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 46.2 45 -15 9.0 +1.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 46.2 30 0 5.7 -2.3
ISZE iShares Edge MSCI Intl Size Factor ETF 44.5 30 0 8.8 +0.9
IXUS ishares Core MSCI Total International Stock ETF 44.4 9 21 9.3 +1.3
VXUS Vanguard Total International Stock Index Fund 43.7 8 22 9.5 +1.5
IDY Pacific Global International Equity Income ETF 43.6 39 -9 10.7 +2.7
IQIN IQ 500 International ETF 42.7 25 5 10.8 +2.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 42.1 39 -9 11.4 +3.4
RFDI First Trust Riverfront Dynamic Developed International ETF 41.4 83 -53 7.8 -0.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 41.1 29 1 9.1 +1.2
VSGX Vanguard ESG International Stock ETF 40.7 17 13 8.9 +0.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 40.3 16 14 8.5 +0.6
EFV iShares MSCI EAFE Value ETF 39.4 39 -9 12.1 +4.2
FDEV Fidelity Targeted International Factor ETF 37.7 39 -9 7.6 -0.4
ISDX Invesco Strategic Developed ex-US ETF 37.6 23 7 9.7 +1.7
EUMV iShares Edge MSCI Min Vol Europe ETF 37.6 25 5 6.3 -1.7
RBIN Nationwide Risk-Based International Equity ETF 37.6 42 -12 8.2 +0.3
RNDM Developed International Equity Select ETF 36.6 65 -35 8.0 0.0
TPIF Timothy Plan International ETF 36.1 62 -32 8.6 +0.6
IDHQ Invesco S&P International Developed High Quality ETF 35.7 29 1 6.5 -1.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 35.4 32 -2 7.5 -0.5
VYMI Vanguard International High Dividend Yield ETF 34.2 32 -2 12.0 +4.1
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 33.7 24 6 8.9 +1.0
RFEU First Trust Riverfront Dynamic Europe ETF 33.1 83 -53 6.2 -1.8
QWLD SPDR MSCI World StrategicFactors ETF 32.8 30 0 7.3 -0.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 32.7 29 1 10.4 +2.4
IPAC iShares Core MSCI Pacific ETF 32.6 9 21 9.1 +1.2
JPEU JPMorgan Diversified Return Europe Equity ETF 32.3 37 -7 8.5 +0.5
OEUR O'shares FTSE Europe Quality Dividend ETF 32.1 48 -18 7.6 -0.4
SCID Global X Scientific Beta Europe ETF 31.9 38 -8 8.6 +0.6
JPIN JPMorgan Diversified Return International Equity ETF 31.8 38 -8 9.6 +1.6
QINT American Century Quality Diversified International ETF 31.4 39 -9 7.4 -0.6
IDMO Invesco S&P International Developed Momentum ETF 31.0 25 5 5.6 -2.4
AVDE Avantis International Equity ETF 30.9 23 7 10.0 +2.0
VPL Vanguard FTSE Pacific ETF 30.5 8 22 9.6 +1.6
DTH WisdomTree DEFA Equity Income Fund 30.0 58 -28 12.1 +4.1
JPGE JPMorgan Diversified Return Global Equity ETF 29.5 29 1 9.0 +1.0
ESGG FlexShares STOXX Global ESG Impact Index Fund 29.5 42 -12 7.0 -1.0
IGRO iShares International Dividend Growth ETF 29.5 22 8 9.5 +1.6
VIGI Vanguard International Dividend Appreciation ETF 29.4 25 5 6.9 -1.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 29.2 45 -15 8.5 +0.5
IDLV Invesco S&P International Developed Low Volatility ETF 28.9 25 5 7.8 -0.2
UIVM VictoryShares USAA MSCI International Value Momentum ETF 28.6 35 -5 10.4 +2.4
DWMF WisdomTree International Multifactor Fund 28.5 38 -8 8.1 +0.1
URTH iShares MSCI World ETF 27.6 24 6 7.3 -0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 27.3 40 -10 8.3 +0.3
IVLU iShares Edge MSCI Intl Value Factor ETF 27.0 30 0 13.7 +5.7
MVIN Natixis Seeyond International Minimum Volatility ETF 25.7 55 -25 7.4 -0.6
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 25.6 25 5 9.2 +1.3
EWJ iShares MSCI Japan ETF 24.9 49 -19 9.2 +1.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 24.9 58 -28 7.6 -0.4
ACWV iShares Edge MSCI Min Vol Global ETF 24.8 20 10 6.7 -1.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.6 45 -15 9.2 +1.3
ACWI iShares MSCI ACWI ETF 24.5 32 -2 7.6 -0.4
BBJP JPMorgan BetaBuilders Japan ETF 24.4 19 11 9.4 +1.5
FIVA Fidelity International Value Factor ETF 24.3 39 -9 12.8 +4.8
QJPN SPDR MSCI Japan StrategicFactors ETF 23.5 14 16 9.7 +1.7
EZU iShares MSCI Eurozone ETF 23.3 49 -19 8.6 +0.7

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 MSCI EAFE Quality Mix 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 11.1 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 8.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.58
 
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.