SPDR S&P Dividend ETF
ALTAR
Score™
7.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
17.8x P/Sales
ratio
1.3x
P/BV
ratio
1.9x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Dividend ETF is an exchange traded fund incorporated in the USA. The Fund's objective is to replicate the price and yield of the S&P High Yield Dividend Aristocrats Index. The Index measures the performance of 50 highest dividend yielding S&P Composite 1500 constituents that have followed a managed dividends policy of consistently increasing dividends every year for 25 years.

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Nov 08, 2005
Assets (mns) $14,714
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Dividend
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 118
Wgt avg mkt cap (mns) $44,809
Large cap (>$10bn) 59.0%
Mid cap ($2-10bn) 40.3%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EXXON MOBIL CORP 2.2 %
FRANKLIN RESOURCES INC 2.1 %
POLARIS INDUSTRIES INC 2.0 %
ABBVIE INC 1.9 %
NATIONAL RETAIL PROPERTIES 1.9 %
AMCOR PLC 1.9 %
AT&T INC 1.8 %
LEGGETT & PLATT INC 1.8 %
CHEVRON CORP 1.7 %
BANK OF THE OZARKS 1.7 %
Total 19.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.2 %
BRITAIN 4.5 %
SWITZERLAND 0.8 %
IRELAND 0.6 %
BERMUDA 0.3 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.9% -6.9% 7.8% 11.5% 7.9%

Market Correlations
versus... Beta R-squared
S&P500 0.92 90%
MSCI EAFE 0.94 82%
MSCI Emg. Mkts. 0.67 66%

Technical Indicators
Recent close $88.24
30d moving avg. $92.46
Annualized volatility 16.4%
Short interest (ETF) 0.2%
Short interest (Underlying) 3.9%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 945
Turnover 0.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $43,421

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR S&P Dividend ETF ETF based on the alternatives' overlap in portfolio holdings with SDY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SDY Expense: 35 bp ALTAR Score™: 7.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SDY
Ticker Fund
Name
Overlap1
vs SDY
(%)
Expense
ratio
(bp)
Savings
vs SDY
(bp)
ALTAR
Score™
(%)
ALTAR
vs SDY
(%)
NOBL ProShares S&P 500 Dividend Aristocrats ETF 56.5 35 0 6.3 -1.0
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 56.3 75 -40 5.9 -1.4
TMDV ProShares Russell US Dividend Growers ETF 46.5 35 0 5.5 -1.8
PFM Invesco Dividend Achievers ETF 30.9 54 -19 5.5 -1.7
VSDA VictoryShares Dividend Accelerator ETF 30.7 35 0 5.0 -2.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 28.5 40 -5 6.5 -0.8
FVD First Trust Value Line Dividend Index Fund 27.7 70 -35 6.6 -0.7
PEY Invesco High Yield Equity Dividend Achievers ETF 25.8 53 -18 9.6 +2.4
VYM Vanguard High Dividend Yield Index ETF 25.8 6 29 7.6 +0.3
USDY Pacific Global US Equity Income ETF 25.7 29 6 7.5 +0.2
KLCD KFA Large Cap Quality Dividend Index ETF 25.4 41 -6 5.4 -1.8
JMIN JPMorgan U.S. Minimum Volatility ETF 24.4 12 23 6.0 -1.3
SCHV Schwab U.S. Large-Cap Value ETF 23.6 4 31 7.4 +0.1
VIG Vanguard Dividend Appreciation Index Fund 23.3 6 29 5.4 -1.8
FLQL Franklin LibertyQ U.S. Equity ETF 23.0 15 20 6.3 -0.9
OUSA O'Shares FTSE US Quality Dividend ETF 23.0 48 -13 5.7 -1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 22.7 28 7 6.5 -0.7
DTD WisdomTree U.S.Total Dividend Fund 22.3 28 7 6.8 -0.5
VOOV Vanguard S&P 500 Value ETF 22.3 15 20 7.6 +0.3
SPYV SPDR Portfolio S&P 500 Value ETF 22.2 4 31 7.6 +0.4
IVE iShares S&P 500 Value ETF 22.2 18 17 7.5 +0.2
DTN WisdomTree U.S. Dividend ex-Financials Fund 22.2 38 -3 8.2 +1.0
IUSV iShares Core S&P U.S. Value ETF 21.9 4 31 7.7 +0.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 21.7 19 16 6.2 -1.1
DGRO iShares Core Dividend Growth ETF 21.5 8 27 6.8 -0.5
MGV Vanguard Mega Cap Value ETF 20.9 7 28 7.5 +0.2
VTV Vanguard Value Index Fund 20.8 4 31 7.6 +0.4
IWX iShares Russell Top 200 Value ETF 20.7 20 15 7.3 +0.1
VONV Vanguard Russell 1000 Value Index Fund 20.2 8 27 7.5 +0.2
MAGA Point Bridge GOP Stock Tracker ETF 20.0 72 -37 6.8 -0.4
IWD iShares Russell 1000 Value ETF 20.0 19 16 7.4 +0.1
CCOR Core Alternative ETF 19.9 123 -88 4.4 -2.8
DVY iShares Select Dividend ETF 19.8 39 -4 10.1 +2.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 19.5 25 10 6.7 -0.6
SPXT ProShares S&P 500 Ex-Technology ETF 19.3 27 8 5.7 -1.5
FLLV Franklin Liberty U.S. Low Volatility ETF 19.2 29 6 5.9 -1.4
PRF Invesco FTSE RAFI US 1000 ETF 19.2 39 -4 7.0 -0.3
JDIV JPMorgan U.S. Dividend ETF 19.2 12 23 8.1 +0.9
EQWL Invesco Russell Top 200 Equal Weight ETF 18.8 25 10 6.2 -1.0
IUS Invesco Strategic US ETF 18.8 19 16 6.8 -0.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 18.5 25 10 6.7 -0.6
RWL Invesco S&P 500 Revenue ETF 18.4 39 -4 7.4 +0.2
SPLV Invesco S&P 500 Low Volatility ETF 18.3 25 10 5.7 -1.5
LGLV SPDR Russell 1000 Low Volatility ETF 18.3 12 23 5.8 -1.5
JKF iShares Morningstar Large Cap Value ETF 18.3 25 10 7.8 +0.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 18.2 29 6 6.3 -0.9
TPHD Timothy Plan High Dividend Stock ETF 18.2 52 -17 8.0 +0.7
JQUA JPMorgan U.S. Quality Factor ETF 18.2 12 23 5.3 -2.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 18.2 18 17 6.4 -0.9
NULV Nuveen ESG Large-Cap Value ETF 18.1 35 0 7.6 +0.3
RAFE PIMCO RAFI ESG U.S. ETF 18.1 29 6 8.0 +0.7
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 18.1 75 -40 6.2 -1.0
DSTL Distillate US Fundamental Stability & Value ETF 17.8 39 -4 6.6 -0.7
ESG FlexShares STOXX US ESG Impact Index Fund 17.5 32 3 5.1 -2.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 17.5 35 0 9.0 +1.7
CFA VictoryShares US 500 Volatility Weighted Index ETF 17.5 35 0 6.0 -1.2
FDLO Fidelity Low Volatility Factor ETF 17.4 29 6 5.2 -2.1
DIVB iShares U.S. Dividend & Buyback ETF 17.2 25 10 6.7 -0.5
USMV iShares Edge MSCI Min Vol USA ETF 17.0 15 20 5.6 -1.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 16.9 30 5 6.6 -0.6
PSET Principal Price Setters Index ETF 16.8 29 6 4.6 -2.6
QUS SPDR MSCI USA StrategicFactors ETF 16.6 15 20 5.9 -1.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 16.6 17 18 6.6 -0.6
QDEF FlexShares Quality Dividend Defensive Index Fund 16.5 37 -2 5.9 -1.3
ESGU iShares MSCI USA ESG Optimized ETF 16.4 15 20 5.1 -2.2
VLU SPDR S&P 1500 Value Tilt ETF 16.3 12 23 7.7 +0.4
SPXN ProShares S&P 500 Ex-Financials ETF 16.3 27 8 5.0 -2.3
VALQ American Century STOXX U.S. Quality Value ETF 16.2 29 6 9.4 +2.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 16.2 35 0 5.4 -1.8
RNDV US Equity Dividend Select ETF 16.2 50 -15 7.9 +0.6
ROUS Hartford Multifactor US Equity ETF 16.2 19 16 7.5 +0.2
ESGS Columbia Sustainable U.S. Equity Income ETF 16.1 35 0 8.9 +1.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 16.0 19 16 5.7 -1.6
RBUS Nationwide Risk-Based U.S. Equity ETF 15.9 30 5 5.0 -2.2
PBP Invesco S&P 500 BuyWrite ETF 15.8 49 -14 5.0 -2.2
SCIU Global X Scientific Beta US ETF 15.8 19 16 5.8 -1.4
SPYD SPDR S&P 500 High Dividend ETF 15.8 7 28 10.8 +3.6
ONEV SPDR Russell 1000 Low Volatility Focus ETF 15.7 20 15 7.2 -0.0
FQAL Fidelity Quality Factor ETF 15.6 29 6 5.5 -1.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 15.6 28 7 6.5 -0.7
QLV FlexShares US Quality Low Volatility Index Fund 15.6 22 13 4.9 -2.4
JHML John Hancock Multifactor Large Cap ETF 15.5 29 6 5.6 -1.6
VOO VANGUARD S&P 500 ETF 15.5 3 32 5.4 -1.8
SPY SPDR S&P 500 ETF Trust 15.5 9 26 5.4 -1.9
SPLG SPDR Portfolio Large Cap ETF 15.5 3 32 5.4 -1.8
IVV iShares Core S&P 500 ETF 15.5 4 31 5.4 -1.8
SCHD Schwab U.S. Dividend Equity ETF 15.5 6 29 8.5 +1.3
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 15.5 17 18 6.5 -0.8
BKLC BNY Mellon US Large Cap Core Equity ETF 15.5 0 35 5.2 -2.0
HSPX Global X S&P 500 Covered Call ETF 15.4 65 -30 4.9 -2.4
MGC Vanguard Mega Cap Index Fund 15.4 7 28 5.2 -2.0
EPS WisdomTree U.S. Earnings 500 Fund 15.4 8 27 6.6 -0.7
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 15.4 49 -14 4.1 -3.2
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 15.3 25 10 6.0 -1.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 15.2 30 5 10.2 +3.0
SPTM SPDR Portfolio Total Stock Market ETF 15.2 3 32 5.5 -1.7
IWL iShares Russell Top 200 ETF 15.2 15 20 5.0 -2.2
DON WisdomTree U.S. MidCap Dividend Fund 15.2 38 -3 8.0 +0.8
PBUS Invesco PureBeta MSCI USA ETF 15.1 4 31 5.3 -2.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 15.0 9 26 5.5 -1.7

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 S&P Dividend ETF
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 14.0 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.52
 
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.