SPDR SSGA US Small Cap Low Volatility Index ETF
ALTAR
Score™
7.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
46.5x P/Sales
ratio
1.4x
P/BV
ratio
1.2x Div.
yield
4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR Russell 2000 Low Volatility ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Russell 2000 Low Volatility Index.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Feb 20, 2013
Assets (mns) $195
Currency USD
Expense ratio 12 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Technical
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 403
Wgt avg mkt cap (mns) $1,373
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 24.4%
Small cap (<$2bn) 75.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ELLINGTON FINANCIAL LLC 1.2 %
TPG RE FINANCE TRUST, INC. 1.1 %
GRANITE POINT MORTGAGE TRUST INC. 0.9 %
KKR REAL ESTATE FINANCE TRUST INC. 0.9 %
APOLLO COMMERCIAL REAL ESTAT 0.8 %
WHITE MOUNTAINS INSURANCE GP 0.8 %
BRINKER INTERNATIONAL INC 0.7 %
APPLE HOSPITALITY REIT INC 0.7 %
PENNYMAC MORTGAGE INVESTMENT 0.7 %
ARES COMMERCIAL REAL ESTATE 0.6 %
Total 8.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.1 %
ISRAEL 1.5 %
BERMUDA 1.0 %
BRITAIN 0.4 %
NETHERLANDS 0.4 %
IRELAND 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.9% -18.2% 5.1% -- 6.9%

Market Correlations
versus... Beta R-squared
S&P500 1.05 78%
MSCI EAFE 1.13 74%
MSCI Emg. Mkts. 0.80 59%

Technical Indicators
Recent close $79.00
30d moving avg. $78.01
Annualized volatility 21.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 5.3%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.7%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $4,871

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR SSGA US Small Cap Low Volatility Index ETF ETF based on the alternatives' overlap in portfolio holdings with SMLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SMLV Expense: 12 bp ALTAR Score™: 7.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SMLV
Ticker Fund
Name
Overlap1
vs SMLV
(%)
Expense
ratio
(bp)
Savings
vs SMLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs SMLV
(%)
CSML IQ Chaikin U.S. Small Cap ETF 28.7 35 -23 3.8 -3.7
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 28.6 35 -23 7.7 +0.2
VIOO Vanguard S&P Small-Cap 600 ETF 28.5 10 2 6.8 -0.7
SLY SPDR S&P 600 Small Cap ETF 28.4 15 -3 6.8 -0.7
SPSM SPDR Portfolio Small Cap ETF 28.4 5 7 6.9 -0.6
IJR iShares Core S&P Small Cap ETF 28.3 6 6 6.9 -0.6
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 27.5 40 -28 7.1 -0.4
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 25.6 29 -17 4.9 -2.6
TPSC Timothy Plan US Small Cap Core ETF 25.4 52 -40 7.9 +0.4
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 24.8 35 -23 7.8 +0.3
DES WisdomTree U.S. SmallCap Dividend Fund 24.6 38 -26 8.3 +0.8
VIOV Vanguard S&P Small-Cap 600 Value ETF 23.6 15 -3 8.7 +1.3
IJS iShares S&P Small-cap 600 Value ETF 23.3 25 -13 8.8 +1.3
SLYV SPDR S&P 600 Small Cap Value ETF 23.2 15 -3 8.7 +1.2
PSC Principal U.S. Small Cap Index ETF 23.1 38 -26 6.7 -0.8
RNSC Small Cap US Equity Select ETF 23.1 60 -48 7.0 -0.5
IWN iShares Russell 2000 Value ETF 23.0 24 -12 6.7 -0.8
FYX First Trust Small Cap Core AlphaDEX Fund 22.5 63 -51 6.0 -1.5
SLYG SPDR S&P 600 Small Cap Growth ETF 22.4 15 -3 5.3 -2.2
IJT iShares S&P Small-Cap 600 Growth ETF 22.4 25 -13 5.4 -2.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 22.3 20 -8 4.6 -2.9
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 22.1 29 -17 5.7 -1.8
VIOG Vanguard S&P Small-Cap 600 Growth ETF 22.0 16 -4 5.2 -2.3
SSLY Syntax Stratified SmallCap ETF 21.8 30 -18 6.4 -1.1
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 21.6 35 -23 5.8 -1.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 21.4 20 -8 4.7 -2.8
IWM iShares Russell 2000 ETF 20.6 19 -7 3.3 -4.2
ISMD Inspire Small/Mid Cap Impact ETF 20.5 60 -48 4.8 -2.7
VTWO Vanguard Russell 2000 Index Fund 20.3 10 2 3.5 -4.0
FYT First Trust Small Cap Value AlphaDEX Fund 20.1 72 -60 9.4 +1.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 19.2 25 -13 7.2 -0.3
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 18.6 29 -17 0.2 -7.3
EES WisdomTree SmallCap Earnings Fund 18.6 38 -26 10.0 +2.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 18.5 39 -27 4.5 -3.0
ROGS Hartford Multifactor Global Small Cap ETF 18.4 34 -22 8.0 +0.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 18.0 39 -27 6.8 -0.7
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 17.6 30 -18 7.4 -0.1
IUSS Invesco Strategic US Small Company ETF 17.4 23 -11 5.1 -2.4
SCHA Schwab U.S. Small-Cap ETF 17.4 4 8 4.6 -2.9
VTWV Vanguard Russell 2000 Value Index Fund 17.1 15 -3 6.9 -0.6
FSMD Fidelity Small-Mid Factor ETF 16.7 29 -17 6.1 -1.4
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 16.5 38 -26 8.3 +0.8
PSCF Invesco S&P SmallCap Financials ETF 15.9 29 -17 11.1 +3.7
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 15.5 24 -12 6.3 -1.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 15.4 17 -5 4.7 -2.8
IWO iShares Russell 2000 Growth ETF 15.0 24 -12 -0.1 -7.6
XSLV Invesco S&P SmallCap Low Volatility ETF 14.8 25 -13 5.5 -2.0
JKJ iShares Morningstar Small-Cap ETF 14.3 25 -13 6.3 -1.2
PBSM Invesco PureBeta MSCI USA Small Cap ETF 14.2 6 6 5.0 -2.5
AFSM First Trust Active Factor Small Cap ETF 13.8 75 -63 5.3 -2.2
VTWG Vanguard Russell 2000 Growth Index Fund 13.6 15 -3 0.1 -7.4
BKSE BNY Mellon US Small Cap Core Equity ETF 13.2 4 8 5.6 -1.9
ROOF IQ US Real Estate Small Cap ETF 13.1 70 -58 11.8 +4.3
NUSC Nuveen ESG Small-Cap ETF 12.9 40 -28 4.7 -2.8
AVUV Avantis U.S. Small Cap Value ETF 12.8 25 -13 7.9 +0.4
VBR Vanguard Small Cap Value Index Fund 12.3 7 5 7.9 +0.4
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 12.0 39 -27 6.4 -1.1
IWC iShares Micro-Cap ETF 11.9 60 -48 -3.8 -11.3
QABA First Trust NASDAQ ABA Community Bank Index Fund 11.4 60 -48 10.3 +2.8
FYC First Trust Small Cap Growth AlphaDEX Fund 10.7 70 -58 1.8 -5.7
XSHQ Invesco S&P SmallCap Quality ETF 10.6 29 -17 6.6 -0.9
EWMC Invesco S&P MidCap 400 Equal Weight ETF 10.6 40 -28 7.2 -0.3
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 10.5 80 -68 5.7 -1.8
SQLV Legg Mason Small-Cap Quality Value 10.5 62 -50 6.2 -1.3
REM iShares Mortgage Real Estate ETF 10.4 48 -36 16.4 +9.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 10.0 20 -8 9.1 +1.6
EZM WisdomTree U.S. MidCap Earnings Fund 9.9 38 -26 8.6 +1.1
VB Vanguard Small-Cap ETF 9.7 5 7 5.1 -2.3
RZG Invesco S&P Smallcap 600 Pure Growth ETF 9.4 35 -23 5.7 -1.8
VFMF Vanguard U.S. Multifactor ETF 9.3 19 -7 7.2 -0.3
FAB First Trust Multi Cap Value AlphaDEX Fund 9.2 71 -59 9.5 +2.0
SMDY Syntax Stratified MidCap ETF 9.0 30 -18 6.6 -0.9
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 9.0 35 -23 9.9 +2.5
VFQY Vanguard U.S. Quality Factor ETF 8.9 13 -1 6.3 -1.2
SMDV ProShares Russell 2000 Dividend Growers ETF 8.9 41 -29 6.5 -1.0
MDYV SPDR S&P 400 Mid Cap Value ETF 8.9 15 -3 8.4 +0.9
IJJ iShares S&P Mid-Cap 400 Value ETF 8.9 25 -13 8.2 +0.7
JKL iShares Morningstar Small Cap Value ETF 8.9 30 -18 9.9 +2.4
VFLQ Vanguard U.S. Liquidity Factor ETF 8.9 14 -2 4.1 -3.4
RNMC Mid Cap US Equity Select ETF 8.4 60 -48 7.4 -0.1
BFOR Barron's 400 ETF 8.4 65 -53 6.3 -1.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 8.3 15 -3 8.2 +0.7
VXF Vanguard Extended Market Index Fund 8.0 6 6 3.4 -4.0
XSVM Invesco S&P SmallCap Value with Momentum ETF 7.8 39 -27 9.0 +1.6
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 7.6 48 -36 6.2 -1.3
JHSC John Hancock Multifactor Small Cap ETF 7.5 42 -30 5.5 -2.0
SPMD SPDR Portfolio Mid Cap ETF 7.5 5 7 6.4 -1.1
MDY SPDR S&P Midcap 400 ETF Trust 7.5 23 -11 6.2 -1.3
IJH iShares Core S&P Mid-Cap ETF 7.5 5 7 6.4 -1.1
VFVA Vanguard U.S. Value Factor ETF 7.4 14 -2 10.8 +3.3
RWK Invesco S&P MidCap 400 Revenue ETF 7.4 39 -27 7.9 +0.4
IVOO Vanguard S&P Mid-Cap 400 ETF 7.2 10 2 6.2 -1.3
FDM First Trust Dow Jones Select Microcap Index Fund 7.1 60 -48 2.7 -4.8
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 7.0 29 -17 7.5 +0.0
MORT VanEck Vectors Mortgage REIT Income ETF 6.8 41 -29 16.6 +9.2
FNX First Trust Mid Cap Core AlphaDEX Fund 6.8 61 -49 6.3 -1.2
PPTY PPTY-U.S. Diversified Real Estate ETF 6.7 49 -37 7.2 -0.3
JKK iShares Morningstar Small-Cap Growth ETF 6.7 30 -18 1.0 -6.5
DWAS Invesco DWA SmallCap Momentum ETF 6.7 60 -48 -2.0 -9.5
VBK Vanguard Small-Cap Growth Index Fund 6.5 7 5 2.2 -5.3

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 SSGA US Small Cap Low Volatility Index 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 8.6 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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