SPDR MSCI Japan StrategicFactors ETF
ALTAR
Score™
10.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.8x P/Sales
ratio
0.7x
P/BV
ratio
1.0x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR MSCI Japan Quality Mix 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 MSCI Japan Quality Mix A-Series Index.

FUND BASICS
Category International Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Jun 12, 2014
Assets (mns) $6
Currency USD
Expense ratio 14 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 318
Wgt avg mkt cap (mns) $33,535
Large cap (>$10bn) 72.4%
Mid cap ($2-10bn) 27.0%
Small cap (<$2bn) 0.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 4.4 %
SONY CORP 2.5 %
KEYENCE CORP 2.0 %
SOFTBANK GROUP CORP. 1.8 %
NIPPON TELEGRAPH AND TELEPHONE COR 1.8 %
KDDI CORPORATION 1.6 %
TAKEDA PHARMACEUTICAL CO LTD 1.6 %
MITSUBISHI UFJ FINANCIAL GRO 1.4 %
DAIICHI SANKYO CO LTD 1.4 %
SHIN-ETSU CHEMICAL CO LTD 1.4 %
Total 19.8 %

TOP COUNTRY EXPOSURE
JAPAN 98.7 %










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.
-16.7% -7.9% 1.4% -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.71 74%
MSCI EAFE 0.73 77%
MSCI Emg. Mkts. 0.54 62%

Technical Indicators
Recent close $62.31
30d moving avg. $66.22
Annualized volatility 12.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 3
Turnover 3.0%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $20,939

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: QJPN Expense: 14 bp ALTAR Score™: 10.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QJPN
Ticker Fund
Name
Overlap1
vs QJPN
(%)
Expense
ratio
(bp)
Savings
vs QJPN
(bp)
ALTAR
Score™
(%)
ALTAR
vs QJPN
(%)
EWJ iShares MSCI Japan ETF 91.3 49 -35 9.6 -0.5
BBJP JPMorgan BetaBuilders Japan ETF 90.6 19 -5 9.9 -0.2
DBJP Xtrackers MSCI Japan Hedged Equity ETF 89.8 45 -31 9.8 -0.4
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 89.2 30 -16 9.9 -0.3
FLJP Franklin FTSE Japan ETF 88.3 9 5 10.0 -0.1
FLJH Franklin FTSE Japan Hedged ETF 88.1 9 5 10.1 -0.1
JPXN iShares JPX-Nikkei 400 ETF 84.6 48 -34 9.7 -0.5
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 84.4 9 5 10.0 -0.1
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 78.0 25 -11 9.7 -0.5
IPAC iShares Core MSCI Pacific ETF 58.7 9 5 9.5 -0.6
DXJ WisdomTree Japan Hedged Equity Fund 55.5 48 -34 11.0 +0.9
EWJE iShares MSCI Japan Equal Weighted ETF 55.1 15 -1 9.1 -1.0
EWJV iShares MSCI Japan Value ETF 51.6 15 -1 13.6 +3.5
VPL Vanguard FTSE Pacific ETF 50.1 8 6 10.0 -0.1
SCIJ Global X Scientific Beta Japan ETF 47.4 39 -25 8.9 -1.3
JPMV iShares Edge MSCI Min Vol Japan ETF 46.5 30 -16 8.4 -1.8
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 40.6 83 -69 9.1 -1.0
IVLU iShares Edge MSCI Intl Value Factor ETF 36.9 30 -16 14.3 +4.2
IQIN IQ 500 International ETF 30.3 25 -11 11.3 +1.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 29.2 29 -15 9.5 -0.6
ISZE iShares Edge MSCI Intl Size Factor ETF 28.3 30 -16 9.2 -0.9
JHMD John Hancock Multifactor Developed International ETF 26.3 45 -31 9.6 -0.6
EFV iShares MSCI EAFE Value ETF 26.2 39 -25 12.7 +2.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 25.9 20 -6 9.2 -1.0
IDY Pacific Global International Equity Income ETF 25.8 39 -25 11.1 +1.0
HFXI IQ 50 Percent Hedged FTSE International ETF 25.4 20 -6 9.5 -0.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 25.2 14 0 8.8 -1.4
RBIN Nationwide Risk-Based International Equity ETF 25.1 42 -28 8.6 -1.6
EFA iShares MSCI EAFE ETF 25.0 32 -18 9.2 -1.0
FNDF Schwab Fundamental International Large Co. Index ETF 24.9 25 -11 11.4 +1.2
ESGD iShares MSCI EAFE ESG Optimized ETF 24.8 20 -6 9.2 -1.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 24.1 35 -21 8.9 -1.2
IQSI IQ Candriam ESG International Equity ETF 24.0 15 -1 9.3 -0.9
EFG iShares MSCI EAFE Growth ETF 24.0 40 -26 6.0 -4.1
FJP First Trust Japan AlphaDEX Fund 24.0 80 -66 12.3 +2.2
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 23.7 48 -34 0.0 -10.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 23.5 7 7 9.6 -0.6
QEFA SPDR MSCI EAFE Quality Mix ETF 23.5 30 -16 8.3 -1.8
SPDW SPDR Portfolio Developed World ex-US ETF 22.4 4 10 9.3 -0.8
IEFA iShares Core MSCI EAFE ETF 22.0 7 7 9.4 -0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 22.0 39 -25 8.4 -1.7
SCHF Schwab International Equity ETF 21.4 6 8 9.5 -0.6
TPIF Timothy Plan International ETF 21.2 62 -48 9.0 -1.2
DIM WisdomTree International MidCap Dividend Fund 21.1 58 -44 10.4 +0.3
PDEV Principal International Multi-Factor Core Index ETF 21.1 25 -11 8.6 -1.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 20.9 45 -31 11.6 +1.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 20.6 35 -21 10.9 +0.8
CIL Victory CEMP International Volatility Weighted Index ETF 20.5 45 -31 9.3 -0.8
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 20.4 45 -31 9.4 -0.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 20.0 25 -11 8.7 -1.4
JPGE JPMorgan Diversified Return Global Equity ETF 19.3 29 -15 9.4 -0.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 19.2 35 -21 11.0 +0.9
VEA Vanguard FTSE Developed Markets ETF 19.2 5 9 9.7 -0.5
DDJP WisdomTree Dynamic Currency Hedged Japan Equity Fund 19.0 43 -29 11.1 +1.0
IDEV iShares Core MSCI International Developed Markets ETF 18.9 5 9 9.4 -0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 18.8 40 -26 8.7 -1.4
RFDI First Trust Riverfront Dynamic Developed International ETF 18.7 83 -69 8.1 -2.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 18.7 80 -66 7.0 -3.1
IDLB Invesco FTSE International Low Beta Equal Weight ETF 18.6 45 -31 8.8 -1.3
DWM WisdomTree International Equity Fund 18.5 48 -34 10.8 +0.7
DWMF WisdomTree International Multifactor Fund 18.4 38 -24 8.4 -1.8
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 18.1 24 -10 9.3 -0.9
ISDX Invesco Strategic Developed ex-US ETF 17.7 23 -9 10.1 -0.0
VSGX Vanguard ESG International Stock ETF 17.7 17 -3 9.3 -0.8
DOL WisdomTree International LargeCap Dividend Fund 17.5 48 -34 11.0 +0.9
CWI SPDR MSCI ACWI ex-US ETF 17.1 30 -16 9.5 -0.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 16.8 29 -15 10.9 +0.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 16.6 16 -2 8.9 -1.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 16.5 39 -25 11.9 +1.8
ACWX iShares MSCI ACWI ex U.S. ETF 16.5 32 -18 9.6 -0.5
VEU Vanguard FTSE All-World ex-US Index Fund 16.4 8 6 9.8 -0.3
QINT American Century Quality Diversified International ETF 16.4 39 -25 7.7 -2.4
FIVA Fidelity International Value Factor ETF 16.4 39 -25 13.5 +3.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 16.1 20 -6 6.8 -3.3
FDEV Fidelity Targeted International Factor ETF 16.0 39 -25 7.9 -2.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 15.8 32 -18 7.8 -2.4
JPIN JPMorgan Diversified Return International Equity ETF 15.8 38 -24 10.0 -0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 15.7 40 -26 9.2 -0.9
IMTM iShares Edge MSCI Intl Momentum Factor ETF 15.7 30 -16 5.9 -4.2
EXI iShares Global Industrials ETF 15.5 46 -32 8.5 -1.6
RXI iShares Global Consumer Discretionary ETF 15.3 46 -32 8.3 -1.8
ESGN Columbia Sustainable International Equity Income ETF 15.1 45 -31 14.3 +4.2
VXUS Vanguard Total International Stock Index Fund 14.8 8 6 9.8 -0.3
IDHQ Invesco S&P International Developed High Quality ETF 14.8 29 -15 6.7 -3.4
IXUS ishares Core MSCI Total International Stock ETF 14.4 9 5 9.7 -0.4
AVDE Avantis International Equity ETF 13.8 23 -9 10.4 +0.3
FDT First Trust Developed Markets ex-US Alphadex Fund 13.6 80 -66 11.5 +1.4
MVIN Natixis Seeyond International Minimum Volatility ETF 13.6 55 -41 7.6 -2.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 13.3 29 -15 15.0 +4.9
KLDW Gavekal Knowledge Leaders Developed World ETF 13.2 75 -61 6.5 -3.6
IQDG WisdomTree International Quality Dividend Growth Fund 13.1 38 -24 8.0 -2.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 13.1 58 -44 7.8 -2.3
IQLT iShares Edge MSCI Intl Quality Factor ETF 12.9 30 -16 7.7 -2.5
DTH WisdomTree DEFA Equity Income Fund 12.7 58 -44 12.6 +2.5
IGRO iShares International Dividend Growth ETF 12.7 22 -8 9.9 -0.2
DOO WisdomTree International Dividend ex-Financials Fund 12.6 58 -44 11.1 +1.0
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 11.4 61 -47 6.8 -3.4
FIDI Fidelity International High Dividend ETF 11.2 39 -25 16.3 +6.2
VYMI Vanguard International High Dividend Yield ETF 11.0 32 -18 12.6 +2.4

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 Japan StrategicFactors 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 9.8 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 14 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.