SPDR MSCI USA StrategicFactors ETF
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.7x P/Sales
ratio
2.4x
P/BV
ratio
3.5x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
QUS tracks an index of US large- and midcap stocks comprising 3 subindexes: value, quality and minimum volatility. The index uses multiple factors to pick stocks, and each subindex receives equal weight.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.spdrs.com
Inception date Apr 15, 2015
Assets (mns) $832
Currency USD
Expense ratio 15 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 622
Wgt avg mkt cap (mns) $288,237
Large cap (>$10bn) 98.1%
Mid cap ($2-10bn) 1.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 2.8 %
MICROSOFT CORP 2.7 %
JOHNSON & JOHNSON 2.2 %
VISA INC-CLASS A SHARES 1.8 %
PROCTER & GAMBLE CO/THE 1.6 %
UNITEDHEALTH GROUP INC 1.6 %
MASTERCARD INC-CLASS A 1.6 %
MERCK & CO. INC. 1.4 %
INTEL CORP 1.4 %
WAL-MART STORES INC 1.3 %
Total 18.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.7 %
IRELAND 2.0 %
BRITAIN 0.9 %
SWITZERLAND 0.5 %
BERMUDA 0.4 %
CANADA 0.4 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
12.4% 12.4% 14.2% -- 12.7%

Market Correlations
versus... Beta R-squared
S&P500 0.91 98%
MSCI EAFE 0.85 84%
MSCI Emg. Mkts. 0.66 65%

Technical Indicators
Recent close $105.04
30d moving avg. $104.15
Annualized volatility 17.4%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.5%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.4%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $295,644

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the SPDR MSCI USA StrategicFactors ETF ETF based on the alternatives' overlap in portfolio holdings with QUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QUS Expense: 15 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QUS
Ticker Fund
Name
Overlap1
vs QUS
(%)
Expense
ratio
(bp)
Savings
vs QUS
(bp)
ALTAR
Score™
(%)
ALTAR
vs QUS
(%)
PBP Invesco S&P 500 BuyWrite ETF 67.0 49 -34 4.4 -0.9
ESGV Vanguard ESG U.S. Stock ETF 66.6 12 3 4.6 -0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 66.4 60 -45 4.4 -0.9
VOO VANGUARD S&P 500 ETF 66.3 3 12 4.9 -0.4
SPY SPDR S&P 500 ETF Trust 66.2 9 6 4.8 -0.5
IVV iShares Core S&P 500 ETF 66.1 3 12 4.8 -0.5
SPLG SPDR Portfolio Large Cap ETF 66.1 3 12 4.8 -0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 66.0 20 -5 4.9 -0.4
PBUS Invesco PureBeta MSCI USA ETF 65.9 4 11 4.7 -0.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 65.0 7 8 4.6 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 64.9 2 13 4.7 -0.6
VV Vanguard Large-Cap Index Fund 64.7 4 11 4.7 -0.6
SPXE ProShares S&P 500 Ex-Energy ETF 64.5 27 -12 4.7 -0.6
SCHX Schwab U.S. Large-Cap ETF 64.5 3 12 4.6 -0.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 64.1 20 -5 4.7 -0.6
SCHK Schwab 1000 Index ETF 63.3 5 10 4.7 -0.6
IWB iShares Russell 1000 ETF 63.1 15 0 4.6 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 63.0 3 12 4.9 -0.4
IYY iShares Dow Jones U.S. ETF 62.9 20 -5 4.5 -0.8
MGC Vanguard Mega Cap Index Fund 62.7 7 8 4.7 -0.6
JHML John Hancock Multifactor Large Cap ETF 62.1 29 -14 4.9 -0.4
EPS WisdomTree U.S. Earnings 500 Fund 62.0 8 7 6.0 +0.7
VTHR Vanguard Russell 3000 Index Fund 61.5 10 5 4.5 -0.8
IWL iShares Russell Top 200 ETF 61.0 15 0 4.5 -0.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 60.8 30 -15 5.3 +0.0
SPXN ProShares S&P 500 Ex-Financials ETF 60.7 27 -12 4.5 -0.8
SCHB Schwab U.S. Broad Market ETF 60.5 3 12 4.5 -0.8
DFAU Dimensional US Core Equity Market ETF 60.4 12 3 4.7 -0.6
IWV iShares Russell 3000 ETF 60.4 20 -5 4.4 -0.9
BKLC BNY Mellon US Large Cap Core Equity ETF 60.3 0 15 4.6 -0.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 60.2 3 12 4.5 -0.8
VONE Vanguard Russell 1000 ETF 59.8 8 7 4.6 -0.7
DIVB iShares U.S. Dividend & Buyback ETF 59.6 25 -10 5.9 +0.6
VTI Vanguard Total Stock Market Index Fund 59.5 3 12 4.5 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 59.4 9 6 4.9 -0.4
IQSU IQ Candriam ESG US Equity ETF 59.3 9 6 4.6 -0.7
ESGU iShares MSCI USA ESG Optimized ETF 59.3 15 0 4.5 -0.8
SPXV ProShares S&P 500 Ex-Health Care ETF 59.3 27 -12 4.4 -0.9
SFY SoFi Select 500 ETF 59.2 0 15 4.6 -0.7
CATH Global X S&P 500 Catholic Values Custom ETF 59.1 29 -14 4.7 -0.7
QWLD SPDR MSCI World StrategicFactors ETF 58.2 30 -15 5.4 +0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 58.0 25 -10 5.8 +0.5
SPYV SPDR Portfolio S&P 500 Value ETF 58.0 4 11 6.4 +1.1
IVE iShares S&P 500 Value ETF 57.9 18 -3 6.3 +1.0
VOOV Vanguard S&P 500 Value ETF 57.8 10 5 6.6 +1.3
SCHV Schwab U.S. Large-Cap Value ETF 57.7 4 11 6.1 +0.8
PRF Invesco FTSE RAFI US 1000 ETF 57.3 39 -24 5.8 +0.5
JCTR JPMorgan Carbon Transition U.S. Equity ETF 57.3 15 0 4.7 -0.6
EFIV SPDR S&P 500 ESG ETF 56.9 10 5 4.7 -0.6
SNPE Xtrackers S&P 500 ESG ETF 56.8 10 5 4.7 -0.6
SPXT ProShares S&P 500 Ex-Technology ETF 56.8 27 -12 4.9 -0.4
IUSV iShares Core S&P U.S. Value ETF 56.7 4 11 6.4 +1.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 56.1 25 -10 5.7 +0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 55.9 28 -13 6.2 +0.9
DTD WisdomTree U.S.Total Dividend Fund 55.2 28 -13 6.3 +1.0
USMV iShares Edge MSCI Min Vol USA ETF 54.7 15 0 5.4 +0.1
OEF iShares S&P 100 ETF 53.7 20 -5 4.3 -1.0
AVUS Avantis U.S. Equity ETF 53.6 15 0 4.9 -0.4
VONV Vanguard Russell 1000 Value Index Fund 53.1 8 7 6.1 +0.8
TOK iShares MSCI Kokusai ETF 52.7 25 -10 5.0 -0.4
ESG FlexShares STOXX US ESG Impact Index Fund 52.5 32 -17 4.6 -0.7
KOKU Xtrackers MSCI Kokusai Equity ETF 52.5 9 6 5.1 -0.2
RWL Invesco S&P 500 Revenue ETF 52.5 39 -24 6.3 +1.0
IWD iShares Russell 1000 Value ETF 52.3 19 -4 6.0 +0.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 52.3 30 -15 5.1 -0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 52.3 12 3 4.1 -1.2
VTV Vanguard Value Index Fund 52.1 4 11 6.5 +1.2
JQUA JPMorgan U.S. Quality Factor ETF 51.7 12 3 5.1 -0.2
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 51.7 25 -10 5.0 -0.3
DGRO iShares Core Dividend Growth ETF 51.6 8 7 6.0 +0.7
ROUS Hartford Multifactor US Equity ETF 50.5 19 -4 5.9 +0.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 50.2 60 -45 3.7 -1.6
VLU SPDR S&P 1500 Value Tilt ETF 49.9 12 3 6.2 +0.9
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.8 10 5 4.9 -0.4
SUSL iShares ESG MSCI USA Leaders ETF 49.8 10 5 4.9 -0.4
IUS Invesco Strategic US ETF 49.6 19 -4 5.5 +0.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 49.6 19 -4 5.4 +0.1
FLQL Franklin LibertyQ U.S. Equity ETF 49.4 15 0 6.0 +0.7
URTH iShares MSCI World ETF 49.3 24 -9 5.0 -0.3
DSI iShares MSCI KLD 400 Social ETF 49.2 25 -10 4.7 -0.7
VOOG Vanguard S&P 500 Growth ETF 48.8 10 5 4.1 -1.3
WOMN Impact Shares YWCA Women's Empowerment ETF 46.9 75 -60 3.6 -1.7
EQWL Invesco Russell Top 200 Equal Weight ETF 46.8 25 -10 5.6 +0.3
AFLG First Trust Active Factor Large Cap ETF 46.8 55 -40 4.8 -0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 46.7 15 0 5.8 +0.5
ACVF American Conservative Values ETF 46.3 75 -60 4.2 -1.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 46.2 9 6 5.0 -0.3
MGV Vanguard Mega Cap Value ETF 46.1 7 8 6.4 +1.1
IWX iShares Russell Top 200 Value ETF 45.8 20 -5 6.0 +0.7
XLG Invesco S&P 500 Top 50 ETF 45.4 20 -5 4.2 -1.1
FDLO Fidelity Low Volatility Factor ETF 45.3 29 -14 5.0 -0.3
QUAL iShares MSCI Usa Quality Factor ETF 45.3 15 0 5.1 -0.3
RSP Invesco S&P 500 Equal Weight ETF 45.2 20 -5 5.6 +0.3
OUSA O'Shares FTSE US Quality Dividend ETF 45.0 48 -33 5.5 +0.2
KRMA Global X Conscious Companies ETF 45.0 43 -28 4.9 -0.4
RESP WisdomTree US ESG Fund of Benef Interest 44.6 28 -13 5.2 -0.1
NACP Impact Shares NAACP Minority Empowerment ETF 44.6 49 -34 4.8 -0.5

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 USA 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 17.3 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.49
 
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.