SPDR S&P Dividend ETF
ALTAR
Score™
6.4% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
1.4x
P/BV
ratio
2.5x Div.
yield
3.0%


  • 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 15, 2005
Assets (mns) $19,952
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 120
Wgt avg mkt cap (mns) $57,453
Large cap (>$10bn) 61.9%
Mid cap ($2-10bn) 35.5%
Small cap (<$2bn) 2.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HELMERICH & PAYNE 2.4 %
ABBVIE INC 2.2 %
AT&T INC 1.9 %
INTL BUSINESS MACHINES CORP 1.9 %
EXXON MOBIL CORP 1.6 %
PEOPLE'S UNITED FINANCIAL 1.6 %
AMCOR PLC 1.5 %
CARDINAL HEALTH INC 1.5 %
KONTOOR BRANDS, INC. 1.5 %
FRANKLIN RESOURCES INC 1.4 %
Total 17.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.2 %
BRITAIN 3.8 %
SWITZERLAND 0.8 %
IRELAND 0.7 %
BERMUDA 0.3 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.9% 12.7% 10.5% 13.0% 9.0%

Market Correlations
versus... Beta R-squared
S&P500 0.81 83%
MSCI EAFE 0.76 59%
MSCI Emg. Mkts. 0.50 45%

Technical Indicators
Recent close $108.67
30d moving avg. $107.31
Annualized volatility 10.8%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.9%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 699
Turnover 0.4%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $22,606

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 6.4%


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
(%)
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income 55.4 75 -40 5.3 -1.1
NOBL ProShares S&P500 Aristocrats 55.4 35 0 5.7 -0.7
TMDV ProShares Russell US Dividend Growers 48.6 35 0 4.9 -1.6
PFM Invesco Dividend Achievers 35.7 54 -19 5.2 -1.3
VSDA VictoryShares Dividend Accelerator 34.0 35 0 4.7 -1.8
KLCD KFA Large Cap Quality Dividend Index 30.9 41 -6 5.0 -1.5
VIG Vanguard Dividend Appreciation 28.6 6 29 5.2 -1.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats 26.2 40 -5 5.4 -1.0
FVD First Trust Value Line Dividend 26.2 70 -35 5.7 -0.8
FLQL Franklin LibertyQ U.S. Equity 25.6 15 20 6.5 +0.1
VYM Vanguard High Dividend Yield ETF 25.3 6 29 7.1 +0.7
LVUS Hartford Multifactor Low Volatility US Equity 25.2 19 16 5.7 -0.8
JMIN JPMorgan U.S. Minimum Volatility 25.0 12 23 5.3 -1.2
SCHV Schwab U.S. Large-Cap Value 24.4 4 31 6.9 +0.4
OVOL Invesco Russell 1000 Low Volatility Factor ETF 24.4 19 16 6.6 +0.2
PEY Invesco High Yield Equity Dividend Acheivers 23.7 53 -18 6.4 -0.1
OUSA O'Shares FTSE U.S. Quality Dividend 23.6 48 -13 5.9 -0.5
OYLD Invesco Russell 1000 Yield Factor ETF 23.0 19 16 7.4 +1.0
DLN WisdomTree Large Cap Dividend 22.5 28 7 6.4 -0.0
HUSV First Trust Horizon Managed Volatility Domestic 22.3 70 -35 4.6 -1.8

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 16.6 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.77 CATEGORY
AVERAGE
1.56
 
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.