SPDR EURO STOXX Small Cap ETF
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
47.7x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR EURO STOXX Small Cap ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to provide investment results that before fees and expenses, correspond generally to the price and yield performance of the EURO STOXX Small Index.

FUND BASICS
Category International Equities
Fund Sponsor SSgA Funds Management
Website www.spdrs.com
Inception date Jun 04, 2014
Assets (mns) $12
Currency USD
Expense ratio 45 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 87
Wgt avg mkt cap (mns) $5,701
Large cap (>$10bn) 7.0%
Mid cap ($2-10bn) 88.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GAMESA CORP TECNOLOGICA SA 2.1 %
KION GROUP AG 1.9 %
KOJAMO OYJ 1.9 %
HUHTAMAKI OYJ 1.7 %
LA FRANCAISE DES JEUX SA 1.7 %
SOFINA 1.7 %
WAREHOUSES DE PAUW SCA 1.7 %
AMPLIFON SPA 1.6 %
TAG IMMOBILIEN AG 1.6 %
MORPHOSYS AG 1.6 %
Total 17.3 %

TOP COUNTRY EXPOSURE
FRANCE 22.3 %
GERMANY 20.2 %
BELGIUM 9.5 %
ITALY 9.3 %
SPAIN 9.0 %
NETHERLANDS 7.5 %
FINLAND 6.3 %
AUSTRIA 4.7 %
LUXEMBOURG 3.1 %
IRELAND 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.6% 4.9% 4.5% -- 1.9%

Market Correlations
versus... Beta R-squared
S&P500 0.97 80%
MSCI EAFE 1.12 91%
MSCI Emg. Mkts. 0.82 79%

Technical Indicators
Recent close $62.23
30d moving avg. $59.09
Annualized volatility 18.6%
Short interest (ETF) 0.5%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $1,290

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR EURO STOXX Small Cap ETF ETF based on the alternatives' overlap in portfolio holdings with SMEZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SMEZ Expense: 45 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SMEZ
Ticker Fund
Name
Overlap1
vs SMEZ
(%)
Expense
ratio
(bp)
Savings
vs SMEZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs SMEZ
(%)
FEUZ First Trust Eurozone AlphaDEX ETF 21.4 80 -35 7.3 +1.2
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 20.4 58 -13 7.7 +1.5
EWGS iShares MSCI Germany Small Cap ETF 13.5 59 -14 4.9 -1.2
IFEU iShares Europe Development Real Estate ETF 13.4 48 -3 6.5 +0.4
FEP First Trust Europe AlphaDEX Fund 12.9 80 -35 7.3 +1.1
IEUS iShares MSCI Europe Small-Cap ETF 10.3 40 5 7.6 +1.5
SCID Global X Scientific Beta Europe ETF 10.0 39 6 6.3 +0.2
EWK iShares MSCI Belgium Capped ETF 9.5 49 -4 6.6 +0.5
DIM WisdomTree International MidCap Dividend Fund 6.5 58 -13 7.5 +1.4
FLIY Franklin FTSE Italy ETF 6.4 9 36 7.5 +1.4
GVAL Cambria Global Value ETF 5.8 69 -24 11.2 +5.1
FDT First Trust Developed Markets ex-US Alphadex Fund 5.8 80 -35 7.2 +1.1
IFGL iShares International Developed Real Estate ETF 5.7 48 -3 7.7 +1.5
SCZ iShares MSCI Eafe Small-Cap ETF 5.6 40 5 7.1 +0.9
RWX SPDR Dow Jones International Real Estate ETF 5.4 59 -14 6.8 +0.6
FGM First Trust Germany AlphaDEX Fund 5.2 80 -35 5.9 -0.3
WWJD Inspire International ESG ETF 5.0 80 -35 7.3 +1.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 4.9 45 0 6.6 +0.5
EWO iShares MSCI Austria ETF 4.7 50 -5 11.2 +5.1
RFEU First Trust Riverfront Dynamic Europe ETF 4.7 83 -38 5.2 -0.9
DRW WisdomTree Global ex-US Real Estate Fund 4.6 58 -13 10.6 +4.5
IMOM Alpha Architect International Quantitative Momentum ETF 4.5 59 -14 3.3 -2.8
EFNL iShares MSCI Finland Capped ETF 4.4 53 -8 6.0 -0.1
FDD First Trust Stoxx European Select Dividend Index Fund 4.4 58 -13 10.9 +4.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 4.3 29 16 8.5 +2.3
WPS iShares International Developed Property ETF 4.2 48 -3 7.9 +1.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 4.2 25 20 6.4 +0.3
EURZ Xtrackers Eurozone Equity ETF 4.1 9 36 6.9 +0.8
ISZE iShares Edge MSCI Intl Size Factor ETF 4.1 30 15 7.2 +1.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 4.1 10 35 9.2 +3.1
EWP iShares MSCI Spain ETF 4.1 50 -5 8.7 +2.6
RNDM Developed International Equity Select ETF 4.0 65 -20 6.2 +0.1
EWN iShares MSCI Netherlands ETF 3.9 50 -5 5.1 -1.0
SCHC Schwab International Small-Cap Equity ETF 3.9 11 34 6.6 +0.5
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 3.8 40 5 8.5 +2.4
RFDI First Trust Riverfront Dynamic Developed International ETF 3.7 83 -38 5.6 -0.6
HEDJ WisdomTree Europe Hedged Equity Fund 3.6 58 -13 6.8 +0.6
DWMF WisdomTree International Multifactor Fund 3.5 38 7 6.6 +0.5
PIO Invesco Global Water ETF 3.5 75 -30 3.7 -2.5
CGW Invesco S&P Global Water Index ETF 3.5 59 -14 4.0 -2.2
PBD Invesco Global Clean Energy ETF 3.5 75 -30 2.1 -4.1
FLFR Franklin FTSE France ETF 3.5 9 36 6.7 +0.5
FYLD Cambria Foreign Shareholder Yield ETF 3.5 59 -14 6.7 +0.6
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 3.4 24 21 7.0 +0.9
FDEV Fidelity Targeted International Factor ETF 3.4 39 6 6.5 +0.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 3.3 80 -35 6.5 +0.3
FNDC Schwab Fundamental International Small Co. Index ETF 3.3 39 6 7.1 +1.0
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 3.3 49 -4 6.5 +0.3
PDEV Principal International Multi-Factor Core Index ETF 3.2 25 20 7.7 +1.6
EWQ iShares MSCI France ETF 3.1 50 -5 6.2 +0.1
FID First Trust S&P International Dividend Aristocrats ETF 3.1 60 -15 9.3 +3.1
EUMV iShares Edge MSCI Min Vol Europe ETF 3.0 25 20 5.0 -1.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 3.0 45 0 7.0 +0.9
WDIV SPDR Global Dividend ETF 3.0 40 5 9.4 +3.2
MOTI VanEck Vectors Morningstar International Moat ETF 3.0 57 -12 8.4 +2.2
DWX SPDR S&P International Dividend ETF 2.9 45 0 7.6 +1.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 2.8 29 16 7.6 +1.4
IEUR iShares Core MSCI Europe ETF 2.7 9 36 7.1 +1.0
IQIN IQ 500 International ETF 2.7 25 20 8.6 +2.5
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.7 50 -5 6.0 -0.1
EUDV ProShares MSCI Europe Dividend Growers ETF 2.7 55 -10 5.6 -0.6
EZU iShares MSCI Eurozone ETF 2.7 49 -4 6.5 +0.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 2.6 35 10 8.5 +2.4
PGAL Global X FTSE Portugal 20 ETF 2.6 58 -13 6.3 +0.1
VNQI Vanguard Global ex-US Real Estate Index Fund 2.6 12 33 10.1 +4.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.6 25 20 6.5 +0.3
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 2.6 11 34 6.4 +0.3
DMDV AAM S&P Developed Markets High Dividend Value ETF 2.5 39 6 11.1 +4.9
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 2.5 43 2 8.6 +2.4
BLES Inspire Global Hope Large Cap ETF 2.5 52 -7 6.4 +0.3
FEU SPDR Portfolio Europe ETF 2.5 9 36 7.2 +1.0
FAN First Trust Global Wind Energy ETF 2.5 62 -17 5.2 -0.9
DLS WisdomTree International SmallCap Dividend Fund 2.5 58 -13 8.4 +2.3
EFAS Global X MSCI SuperDividend EAFE ETF 2.4 56 -11 9.6 +3.5
VGK Vanguard FTSE Europe ETF 2.4 8 37 7.3 +1.2
FLGR Franklin FTSE Germany ETF 2.4 9 36 7.1 +1.0
INTF iShares Edge MSCI Multifactor Intl ETF 2.4 30 15 7.7 +1.6
IVAL Alpha Architect International Quantitative Value ETF 2.3 59 -14 10.1 +4.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.3 70 -25 2.3 -3.8
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.3 58 -13 6.0 -0.1
VGFO Virtus WMC Global Factor Opportunities ETF 2.3 49 -4 7.8 +1.7
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 2.3 60 -15 7.2 +1.0
REET iShares Global REIT ETF 2.2 14 31 7.4 +1.3
MVIN Natixis Seeyond International Minimum Volatility ETF 2.2 56 -11 5.3 -0.9
ISDS Invesco Strategic Developed ex-US Small Company ETF 2.1 35 10 6.7 +0.6
RWO SPDR Dow Jones Global Real Estate ETF 2.1 50 -5 7.0 +0.9
EWI iShares MSCI Italy ETF 2.1 49 -4 7.3 +1.2
PZD Invesco Cleantech ETF 2.1 68 -23 4.0 -2.1
GEX VanEck Vectors Global Alternative Energy ETF 2.1 62 -17 3.7 -2.5
ICLN iShares Global Clean Energy ETF 2.1 46 -1 2.7 -3.4
DWCR Arrow DWA Country Rotation ETF 2.1 95 -50 13.6 +7.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 2.0 30 15 6.9 +0.7
FLEH Franklin FTSE Europe Hedged ETF 2.0 9 36 7.0 +0.8
FLEE Franklin FTSE Europe ETF 2.0 9 36 6.9 +0.8
AVDE Avantis International Equity ETF 2.0 23 22 7.7 +1.5
PEX ProShares Global Listed Private Equity ETF 2.0 313 -268 5.9 -0.2
PSP Invesco Global Listed Private Equity ETF 2.0 178 -133 5.3 -0.8
TPIF Timothy Plan International ETF 1.9 62 -17 6.2 +0.0
IGF iShares Global Infrastructure ETF 1.9 46 -1 5.4 -0.8

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 EURO STOXX Small Cap ETF
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 7.6 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.59
 
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.