Sprott Gold Miners
ALTAR
Score™
2.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
26.8x P/Sales
ratio
2.8x
P/BV
ratio
1.7x Div.
yield
0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Sprott Gold Miners ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Sprott Zacks Gold Miners Index, which is made up of of large to mid capitalization gold companies whose stocks are listed on major U.S. exchanges.

FUND BASICS
Category Global Equities
Fund Sponsor ALPS Advisors
Website www.alpsetfs.com
Inception date Jul 15, 2014
Assets (mns) $179
Currency USD
Expense ratio 50 bp
Distributions 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 31
Wgt avg mkt cap (mns) $9,992
Large cap (>$10bn) 40.5%
Mid cap ($2-10bn) 28.4%
Small cap (<$2bn) 31.1%
Developed mkts 96.7%
Emerging mkts 3.4%

TOP TEN HOLDINGS
NEWMONT MINING CORP 13.9 %
BARRICK GOLD CORP 13.0 %
FRANCO-NEVADA CORP 9.5 %
KIRKLAND LAKE GOLD LTD. 6.1 %
ROYAL GOLD INC 5.0 %
AGNICO-EAGLE MINES LTD 4.7 %
B2GOLD CORP 4.6 %
SANDSTORM GOLD LTD 4.6 %
SSR MINING INC 4.5 %
CENTERRA GOLD INC 4.4 %
Total 70.3 %

TOP COUNTRY EXPOSURE
CANADA 76.1 %
UNITED STATES 20.1 %
SOUTH AFRICA 3.2 %
BRITAIN 0.5 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
38.1% 55.9% 8.6% -- 0.3%

Market Correlations
versus... Beta R-squared
S&P500 -0.16 1%
MSCI EAFE 0.47 4%
MSCI Emg. Mkts. 0.63 11%

Technical Indicators
Recent close $23.53
30d moving avg. $23.15
Annualized volatility 27.2%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.6%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 22
Turnover 0.3%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $1,079

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Sprott Gold Miners ETF based on the alternatives' overlap in portfolio holdings with SGDM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SGDM Expense: 50 bp ALTAR Score™: 2.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SGDM
Ticker Fund
Name
Overlap1
vs SGDM
(%)
Expense
ratio
(bp)
Savings
vs SGDM
(bp)
ALTAR
Score™
(%)
ALTAR
vs SGDM
(%)
GDX VanEck Vectors Gold Miners ETF 59.4 52 -2 2.4 -0.3
RING iShares MSCI Global Gold Miners 50.8 39 11 2.9 +0.1
GOAU U.S. Global GO GOLD and Precious Metal Miners 36.8 60 -10 3.7 +0.9
GOEX Global X Gold Explorers 27.5 65 -15 2.4 -0.3
GDXJ VanEck Vectors Jr. Gold Miners 24.3 53 -3 2.5 -0.3
NANR SPDR S&P N. American Nat. Resources 22.5 35 15 4.2 +1.4
XME SPDR Metals & Mining ETF 10.1 35 15 2.7 -0.1
SGDJ ALPS Sprott Junior Gold Miners 7.3 50 0 2.2 -0.5
GUNR Flexshares Global Upstream Natural Resources 7.2 46 4 5.7 +3.0
SILJ ETFMG Prime Junior Silver 6.1 69 -19 -0.7 -3.4
IYM iShares DJ US Basic Material 6.1 42 8 8.8 +6.0
SLVP iShares MSCI Global Silver Miners 6.0 39 11 0.6 -2.1
PYZ Invesco Dynamic Basic Materials Sector 5.9 60 -10 6.0 +3.3
SIL Global X Silver Miners ETF 5.7 65 -15 1.9 -0.8
MXI iShares S&P Global Materials 5.6 46 4 6.9 +4.2
GRES Index IQ Global Resources 5.2 77 -27 6.2 +3.4
EWC iShares MSCI Canada 5.0 47 3 7.2 +4.4
BBCA JPMorgan BetaBuilders Canada 5.0 19 31 7.3 +4.5
QCAN SPDR MSCI Canada Quality Mix 4.8 14 36 7.3 +4.6
URA Global X Uranium 4.7 69 -19 1.6 -1.2

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Sprott Gold Miners
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 5.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 2.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 CATEGORY
AVERAGE
1.54
 
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.