SPDR MSCI USA StrategicFactors ETF
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.1x P/Sales
ratio
2.2x
P/BV
ratio
3.2x Div.
yield
2.2%


  • 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 16, 2015
Assets (mns) $859
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 623
Wgt avg mkt cap (mns) $240,292
Large cap (>$10bn) 95.2%
Mid cap ($2-10bn) 4.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 3.4 %
MICROSOFT CORP 3.3 %
JOHNSON & JOHNSON 2.7 %
VISA INC-CLASS A SHARES 2.4 %
MASTERCARD INC-CLASS A 2.1 %
PROCTER & GAMBLE CO/THE 1.8 %
INTEL CORP 1.8 %
PEPSICO INC 1.7 %
CISCO SYSTEMS INC 1.5 %
MERCK & CO. INC. 1.5 %
Total 22.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.7 %
IRELAND 2.1 %
BRITAIN 1.0 %
SWITZERLAND 0.8 %
BERMUDA 0.6 %
CANADA 0.4 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.9% 11.1% 10.3% -- 10.3%

Market Correlations
versus... Beta R-squared
S&P500 0.92 99%
MSCI EAFE 0.92 84%
MSCI Emg. Mkts. 0.67 68%

Technical Indicators
Recent close $90.04
30d moving avg. $85.52
Annualized volatility 15.7%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.5%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 52
Turnover 0.6%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $281,712

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.8%


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 69.5 49 -34 5.1 -0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 69.4 30 -15 6.6 +0.9
HSPX Global X S&P 500 Covered Call ETF 68.3 65 -50 4.9 -0.9
PBUS Invesco PureBeta MSCI USA ETF 67.5 4 11 5.3 -0.5
VV Vanguard Large-Cap Index Fund 66.9 4 11 5.3 -0.5
SPLG SPDR Portfolio Large Cap ETF 66.7 3 12 5.5 -0.3
IVV iShares Core S&P 500 ETF 66.7 4 11 5.5 -0.3
SPY SPDR S&P 500 ETF Trust 66.6 9 6 5.4 -0.4
VOO VANGUARD S&P 500 ETF 66.5 3 12 5.5 -0.3
SCHX Schwab U.S. Large-Cap ETF 66.2 3 12 5.4 -0.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 66.2 2 13 5.4 -0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 65.8 20 -5 5.5 -0.3
SPXE ProShares S&P 500 Ex-Energy ETF 65.6 27 -12 5.4 -0.4
IWB iShares Russell 1000 ETF 65.1 15 0 5.2 -0.6
SCHK Schwab 1000 Index ETF 65.0 5 10 5.3 -0.5
JHML John Hancock Multifactor Large Cap ETF 64.9 34 -19 5.5 -0.3
VONE Vanguard Russell 1000 ETF 64.8 8 7 5.3 -0.5
IYY iShares Dow Jones U.S. ETF 64.7 20 -5 5.2 -0.6
SPTM SPDR Portfolio Total Stock Market ETF 64.7 3 12 5.6 -0.2
VTI Vanguard Total Stock Market Index Fund 63.4 3 12 5.2 -0.6
SCHB Schwab U.S. Broad Market ETF 63.3 3 12 5.3 -0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 63.2 3 12 5.2 -0.6
IWV iShares Russell 3000 ETF 63.0 20 -5 5.1 -0.7
VTHR Vanguard Russell 3000 Index Fund 62.8 10 5 5.2 -0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 62.6 9 6 5.6 -0.2
EPS WisdomTree U.S. Earnings 500 Fund 62.1 8 7 6.4 +0.6
SPXN ProShares S&P 500 Ex-Financials ETF 62.0 27 -12 5.1 -0.7
MGC Vanguard Mega Cap Index Fund 61.9 7 8 5.3 -0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 61.0 20 -5 5.0 -0.8
SFY SoFi Select 500 ETF 60.5 0 15 5.3 -0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 60.4 27 -12 5.1 -0.7
CATH Global X S&P 500 Catholic Values Custom ETF 60.3 29 -14 5.3 -0.5
QWLD SPDR MSCI World StrategicFactors ETF 59.5 30 -15 6.0 +0.3
IWL iShares Russell Top 200 ETF 59.4 15 0 5.1 -0.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 59.3 25 -10 6.4 +0.6
AVUS Avantis U.S. Equity ETF 58.4 15 0 5.7 -0.1
ESGV Vanguard ESG U.S. Stock ETF 57.9 12 3 5.3 -0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 57.8 25 -10 6.4 +0.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 57.7 12 3 5.1 -0.7
ESGU iShares MSCI USA ESG Optimized ETF 57.4 15 0 5.1 -0.7
IQSU IQ Candriam ESG US Equity ETF 57.4 9 6 5.3 -0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 57.3 28 -13 6.3 +0.5
SNPE Xtrackers S&P 500 ESG ETF 57.1 11 4 5.2 -0.6
DTD WisdomTree U.S.Total Dividend Fund 56.8 28 -13 6.5 +0.7
DIVB iShares U.S. Dividend & Buyback ETF 56.6 25 -10 6.3 +0.6
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 56.2 25 -10 6.1 +0.3
PRF Invesco FTSE RAFI US 1000 ETF 56.2 39 -24 6.6 +0.8
USMV iShares Edge MSCI Min Vol USA ETF 55.8 15 0 5.7 -0.1
TOK iShares MSCI Kokusai ETF 55.0 25 -10 5.7 -0.1
SPXT ProShares S&P 500 Ex-Technology ETF 54.9 27 -12 5.6 -0.2
IUS Invesco Strategic US ETF 54.8 19 -4 6.2 +0.4
JQUA JPMorgan U.S. Quality Factor ETF 54.4 12 3 5.2 -0.6
DGRO iShares Core Dividend Growth ETF 53.5 8 7 6.4 +0.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 53.3 29 -14 6.1 +0.3
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 52.7 29 -14 4.3 -1.4
SUSL iShares ESG MSCI USA Leaders ETF 52.7 10 5 5.4 -0.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 52.6 10 5 5.4 -0.4
OEF iShares S&P 100 ETF 52.4 20 -5 4.9 -0.9
ESG FlexShares STOXX US ESG Impact Index Fund 52.4 32 -17 5.2 -0.6
URTH iShares MSCI World ETF 51.8 24 -9 5.8 +0.0
SPYV SPDR Portfolio S&P 500 Value ETF 51.8 4 11 7.2 +1.4
IVE iShares S&P 500 Value ETF 51.7 18 -3 7.0 +1.2
VOOV Vanguard S&P 500 Value ETF 51.6 15 0 7.1 +1.3
DSI iShares MSCI KLD 400 Social ETF 51.0 25 -10 5.2 -0.5
IUSV iShares Core S&P U.S. Value ETF 51.0 4 11 7.2 +1.5
RWL Invesco S&P 500 Revenue ETF 50.0 39 -24 6.7 +0.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 49.9 60 -45 4.6 -1.2
RECS Columbia Research Enhanced Core ETF 49.9 15 0 5.6 -0.1
SCHV Schwab U.S. Large-Cap Value ETF 49.6 4 11 6.9 +1.1
IWF iShares Russell 1000 Growth ETF 49.4 19 -4 4.3 -1.5
VONG Vanguard Russell 1000 Growth Index Fund 49.3 8 7 4.4 -1.3
VOOG Vanguard S&P 500 Growth ETF 49.3 10 5 4.4 -1.4
SPYG SPDR Portfolio S&P 500 Growth ETF 49.2 4 11 4.5 -1.3
FDLO Fidelity Low Volatility Factor ETF 49.2 29 -14 5.2 -0.6
IVW iShares S&P 500 Growth ETF 49.1 18 -3 4.3 -1.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 48.8 19 -4 5.6 -0.2
VTV Vanguard Value Index Fund 48.4 4 11 7.1 +1.4
VLU SPDR S&P 1500 Value Tilt ETF 48.4 12 3 7.1 +1.4
IUSG iShares Core S&P US Growth ETF 48.4 4 11 4.5 -1.3
EXT WisdomTree U.S. Total Earnings Fund 47.8 28 -13 5.7 -0.0
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 47.7 49 -34 4.2 -1.6
ROUS Hartford Multifactor US Equity ETF 47.6 19 -4 7.1 +1.3
AFLG First Trust Active Factor Large Cap ETF 47.5 55 -40 5.6 -0.2
ACWI iShares MSCI ACWI ETF 47.3 32 -17 6.0 +0.3
NACP Impact Shares NAACP Minority Empowerment ETF 46.6 75 -60 4.5 -1.3
VEGN US Vegan Climate ETF 46.4 60 -45 5.3 -0.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 45.9 9 6 5.8 +0.0
RNLC Large Cap US Equity Select ETF 45.9 60 -45 6.0 +0.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 45.7 15 0 6.2 +0.5
FLQL Franklin LibertyQ U.S. Equity ETF 45.7 15 0 6.2 +0.4
EUSA iShares MSCI USA Equal Weighted ETF 45.6 15 0 6.0 +0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 45.3 19 -4 6.1 +0.4
RAFE PIMCO RAFI ESG U.S. ETF 45.2 29 -14 7.5 +1.7
FQAL Fidelity Quality Factor ETF 45.0 29 -14 5.4 -0.4
SIZE iShares Edge MSCI USA Size Factor ETF 44.9 15 0 5.8 +0.0
WOMN Impact Shares YWCA Women's Empowerment ETF 44.7 75 -60 4.5 -1.2
IWY iShares Russell Top 200 Growth ETF 44.7 20 -5 4.3 -1.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 44.7 20 -5 6.3 +0.5
LOWC SPDR MSCI ACWI Low Carbon Target ETF 44.7 20 -5 6.4 +0.6
IWD iShares Russell 1000 Value ETF 44.6 19 -4 6.9 +1.1

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

  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 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 17.8 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.53
 
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.