SPDR Portfolio Mid Cap
ALTAR
Score™
6.0% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.0x P/Sales
ratio
1.2x
P/BV
ratio
2.0x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P 1000 ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 1000 Index.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Nov 08, 2005
Assets (mns) $1,864
Currency USD
Expense ratio 5 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1003
Wgt avg mkt cap (mns) $4,804
Large cap (>$10bn) 8.3%
Mid cap ($2-10bn) 71.7%
Small cap (<$2bn) 20.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ZEBRA TECHNOLOGIES CORP-CL A 0.5 %
TELEDYNE TECHNOLOGIES INC 0.5 %
OLD DOMINION FREIGHT LINE 0.5 %
DOMINO'S PIZZA INC 0.5 %
ALLEGHANY CORP 0.4 %
TYLER TECHNOLOGIES INC 0.4 %
WEST PHARMACEUTICAL SERVICES 0.4 %
TERADYNE INC 0.4 %
CAMDEN PROPERTY TRUST 0.4 %
MEDICAL PROPERTIES TRUST INC 0.4 %
Total 4.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
BERMUDA 0.6 %
BRITAIN 0.6 %
PUERTO RICO 0.2 %
CAYMAN ISLANDS 0.1 %
SWITZERLAND 0.1 %
IRELAND 0.1 %
NETHERLANDS 0.1 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
21.7% 7.5% 6.4% 12.1% 8.8%

Market Correlations
versus... Beta R-squared
S&P500 1.15 84%
MSCI EAFE 1.02 55%
MSCI Emg. Mkts. 0.67 37%

Technical Indicators
Recent close $35.65
30d moving avg. $34.99
Annualized volatility 15.2%
Short interest (ETF) 0.3%
Short interest (Underlying) 5.8%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 248
Turnover 0.5%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $24,795

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SPMD Expense: 5 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPMD
Ticker Fund
Name
Overlap1
vs SPMD
(%)
Expense
ratio
(bp)
Savings
vs SPMD
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPMD
(%)
MDY S&P MidCap 400 SPDR 69.5 24 -19 6.0 -0.0
IJH iShares Core S&P MidCap 69.3 7 -2 6.2 +0.2
IVOO Vanguard S&P Mid-Cap 400 69.1 15 -10 6.1 +0.1
EWMC Invesco S&P Mid Cap 400 Equal Weight 64.1 40 -35 6.5 +0.5
SCHA Schwab U.S. Small-Cap 62.0 4 1 4.9 -1.1
PBSM Invesco PureBeta MSCI USA Small Cap 61.8 6 -1 5.3 -0.8
VB Vanguard Smallcap ETF 59.0 5 0 5.5 -0.6
SPSM SPDR Portfolio Small Cap 58.4 5 0 4.7 -1.3
VBR Vanguard Small-Cap Value ETF 54.4 7 -2 7.6 +1.6
ESML iShares MSCI USA Small-Cap ESG Optimized 50.9 17 -12 4.7 -1.4
FSMD Fidelity Small-Mid Factor ETF 48.5 29 -24 6.3 +0.3
VXF Vanguard Extended Market 48.4 7 -2 3.3 -2.8
EZM WisdomTree Midcap Earnings 48.4 38 -33 7.6 +1.6
MDYV SPDR S&P400 Mid Cap Value 47.7 15 -10 7.4 +1.3
IJJ iShares S&P MidCap 400 Value 47.7 25 -20 7.3 +1.2
IVOV Vanguard S&P Mid-Cap 400 Value 47.5 20 -15 7.3 +1.3
IWM iShares Russell 2000 47.3 19 -14 3.5 -2.5
VTWO Vanguard Russell 2000 47.2 15 -10 3.6 -2.5
FNDA Schwab Fundamental Small Cap 46.7 25 -20 5.9 -0.1
IUSS Invesco Strategic US Small Company 46.6 23 -18 6.1 +0.1

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

  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

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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 Mid 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 11.3 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.