SPDR Portfolio Large Cap
ALTAR
Score™
6.0% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.5x P/Sales
ratio
2.2x
P/BV
ratio
3.3x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR Russell 1000 ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible the performance of the Russell 1000 Index.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Nov 08, 2005
Assets (mns) $2,977
Currency USD
Expense ratio 3 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 732
Wgt avg mkt cap (mns) $237,128
Large cap (>$10bn) 92.9%
Mid cap ($2-10bn) 7.1%
Small cap (<$2bn) 0.0%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
APPLE INC 4.4 %
MICROSOFT CORP 4.1 %
AMAZON.COM INC 3.0 %
FACEBOOK 1.7 %
JPMORGAN CHASE & CO 1.6 %
ALPHABET INC. CLASS A 1.5 %
JOHNSON & JOHNSON 1.3 %
VISA INC-CLASS A SHARES 1.2 %
PROCTER & GAMBLE CO/THE 1.2 %
BANK OF AMERICA CORP 1.2 %
Total 21.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.5 %
ARGENTINA 0.1 %
BRITAIN 0.1 %
CHINA 0.1 %
ISRAEL 0.0 %






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.
21.0% 4.4% 10.6% 13.2% 8.6%

Market Correlations
versus... Beta R-squared
S&P500 1.01 100%
MSCI EAFE 0.89 63%
MSCI Emg. Mkts. 0.59 46%

Technical Indicators
Recent close $34.98
30d moving avg. $34.84
Annualized volatility 12.3%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.6%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 779
Turnover 0.9%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $160,863

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR Portfolio Large Cap ETF based on the alternatives' overlap in portfolio holdings with SPLG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPLG Expense: 3 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPLG
Ticker Fund
Name
Overlap1
vs SPLG
(%)
Expense
ratio
(bp)
Savings
vs SPLG
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPLG
(%)
PBUS Invesco PureBeta MSCI USA 91.5 4 -1 6.1 +0.2
SCHX Schwab U.S. Large-Cap 90.9 3 0 6.0 +0.0
SPTM SPDR Portfolio Total Stock Market 90.7 3 0 5.9 -0.1
VV Vanguard Large-Cap ETF 90.7 4 -1 6.0 +0.1
BBUS JP Morgan Betabuilders U.S. Equity 90.6 2 1 6.0 +0.0
PBP Invesco S&P 500 Buy/Write 90.1 49 -46 5.6 -0.4
SPY S&P 500 SPDR 90.0 9 -6 6.1 +0.1
VOO Vanguard S&P 500 ETF 90.0 3 0 6.1 +0.2
IVV iShares Core S&P 500 90.0 4 -1 6.1 +0.1
HSPX Global X S&P 500 Covered Call 89.5 65 -62 5.5 -0.5
VONE Vanguard Russell 1000 89.4 12 -9 5.9 -0.0
IWB iShares Russell 1000 89.3 15 -12 5.9 -0.1
SCHK Schwab 1000 Index 89.0 5 -2 6.0 +0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 87.2 20 -17 6.1 +0.1
IYY iShares DJ US Total Market 87.2 20 -17 5.8 -0.1
SPXE ProShares S&P 500 Ex-Energy 86.5 27 -24 6.0 +0.0
IWV iShares Russell 3000 83.5 20 -17 5.7 -0.3
VTHR Vanguard Russell 3000 83.5 15 -12 5.8 -0.2
SCHB Schwab U.S. Broad Market 83.5 3 0 5.9 -0.1
ITOT iShares Core S&P Total US 83.1 3 0 5.8 -0.2

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:
SPDR Portfolio Large Cap
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.7 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 3 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.55
 
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.