SPDR Portfolio Small Cap ETF
ALTAR
Score™
6.8% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
35.0x P/Sales
ratio
1.0x
P/BV
ratio
1.6x Div.
yield
1.8%


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

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Jul 08, 2013
Assets (mns) $2,646
Currency USD
Expense ratio 5 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 604
Wgt avg mkt cap (mns) $1,796
Large cap (>$10bn) 0.2%
Mid cap ($2-10bn) 36.2%
Small cap (<$2bn) 63.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEOGENOMICS INC 0.7 %
STAMPS.COM INC 0.6 %
KINSALE CAPITAL GROUP, INC. 0.6 %
MERITAGE HOMES CORP 0.6 %
YETI HOLDINGS, INC. 0.5 %
EXPONENT INC 0.5 %
SAIA INC 0.5 %
PROTO LABS INC 0.5 %
LIVEPERSON INC 0.5 %
BROOKS AUTOMATION INC 0.5 %
Total 5.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
BERMUDA 0.8 %
PUERTO RICO 0.6 %
BRITAIN 0.5 %
CAYMAN ISLANDS 0.3 %
IRELAND 0.2 %
NETHERLANDS 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.
-15.2% -7.3% 6.7% -- 6.2%

Market Correlations
versus... Beta R-squared
S&P500 1.23 88%
MSCI EAFE 1.29 80%
MSCI Emg. Mkts. 0.94 67%

Technical Indicators
Recent close $29.76
30d moving avg. $28.36
Annualized volatility 23.3%
Short interest (ETF) 0.1%
Short interest (Underlying) 6.9%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 500
Turnover 0.6%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $7,999

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SPSM Expense: 5 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPSM
Ticker Fund
Name
Overlap1
vs SPSM
(%)
Expense
ratio
(bp)
Savings
vs SPSM
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPSM
(%)
SLY SPDR S&P 600 Small Cap ETF 99.6 15 -10 6.7 -0.1
IJR iShares Core S&P Small Cap ETF 99.1 6 -1 6.8 +0.0
VIOO Vanguard S&P Small-Cap 600 ETF 98.8 10 -5 6.7 -0.1
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 71.8 40 -35 7.0 +0.2
SLYG SPDR S&P 600 Small Cap Growth ETF 66.1 15 -10 5.2 -1.6
IJT iShares S&P Small-Cap 600 Growth ETF 66.1 25 -20 5.3 -1.5
VIOG Vanguard S&P Small-Cap 600 Growth ETF 65.3 16 -11 5.2 -1.6
SLYV SPDR S&P 600 Small Cap Value ETF 63.1 15 -10 8.5 +1.7
VIOV Vanguard S&P Small-Cap 600 Value ETF 62.8 15 -10 8.5 +1.7
IJS iShares S&P Small-cap 600 Value ETF 62.8 25 -20 8.6 +1.8
SSLY Syntax Stratified SmallCap ETF 61.5 30 -25 6.3 -0.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 54.9 39 -34 6.7 -0.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 43.8 29 -24 4.9 -1.9
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 42.7 35 -30 7.6 +0.7
IWN iShares Russell 2000 Value ETF 40.4 24 -19 6.5 -0.3
TPSC Timothy Plan US Small Cap Core ETF 40.4 52 -47 7.7 +0.9
EES WisdomTree SmallCap Earnings Fund 38.8 38 -33 9.8 +3.0
FYX First Trust Small Cap Core AlphaDEX Fund 38.2 63 -58 5.9 -0.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 38.0 20 -15 4.7 -2.1
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 37.7 35 -30 7.7 +0.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 36.2 35 -30 5.8 -1.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 36.2 30 -25 7.4 +0.5
ISMD Inspire Small/Mid Cap Impact ETF 35.4 60 -55 4.7 -2.1
IWM iShares Russell 2000 ETF 34.2 19 -14 3.2 -3.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 34.1 39 -34 4.4 -2.4
VTWO Vanguard Russell 2000 Index Fund 33.7 10 -5 3.5 -3.3
PSC Principal U.S. Small Cap Index ETF 33.2 38 -33 6.6 -0.2
RNSC Small Cap US Equity Select ETF 33.0 60 -55 6.8 -0.0
DES WisdomTree U.S. SmallCap Dividend Fund 31.8 38 -33 8.2 +1.4
STSB iShares Factors US Small Blend Style ETF 30.9 35 -30 3.5 -3.3
RZG Invesco S&P Smallcap 600 Pure Growth ETF 30.8 35 -30 5.7 -1.1
FNDA Schwab Fundamental U.S. Small Co. Index ETF 30.1 25 -20 7.0 +0.2
CSML IQ Chaikin U.S. Small Cap ETF 30.1 35 -30 3.8 -3.1
VTWV Vanguard Russell 2000 Value Index Fund 29.4 15 -10 6.7 -0.1
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 29.2 29 -24 0.2 -6.6
IWO iShares Russell 2000 Growth ETF 28.5 24 -19 -0.1 -6.9
IUSS Invesco Strategic US Small Company ETF 28.4 23 -18 5.0 -1.8
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 28.3 12 -7 7.3 +0.5
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 27.8 29 -24 5.6 -1.2
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 27.5 24 -19 6.3 -0.5
PXSG Invesco S&P SmallCap Momentum ETF 27.5 39 -34 3.7 -3.1
AFSM First Trust Active Factor Small Cap ETF 26.6 75 -70 5.3 -1.5
XSLV Invesco S&P SmallCap Low Volatility ETF 25.2 25 -20 5.4 -1.4
AVUV Avantis U.S. Small Cap Value ETF 25.1 25 -20 7.7 +0.9
SCHA Schwab U.S. Small-Cap ETF 25.1 4 1 4.6 -2.2
FYC First Trust Small Cap Growth AlphaDEX Fund 24.9 70 -65 1.8 -5.0
PSCF Invesco S&P SmallCap Financials ETF 24.8 29 -24 10.8 +4.0
VTWG Vanguard Russell 2000 Growth Index Fund 24.6 15 -10 0.1 -6.7
FYT First Trust Small Cap Value AlphaDEX Fund 23.5 72 -67 9.1 +2.3
XSHQ Invesco S&P SmallCap Quality ETF 22.9 29 -24 6.5 -0.3
ROGS Hartford Multifactor Global Small Cap ETF 22.8 34 -29 7.9 +1.1
NUSC Nuveen ESG Small-Cap ETF 22.6 40 -35 4.6 -2.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 20.2 17 -12 4.7 -2.2
PBSM Invesco PureBeta MSCI USA Small Cap ETF 19.5 6 -1 5.0 -1.8
FSMD Fidelity Small-Mid Factor ETF 19.1 29 -24 6.1 -0.7
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 18.5 38 -33 8.3 +1.5
PSCI Invesco S&P SmallCap Industrials ETF 17.9 29 -24 6.3 -0.5
XSVM Invesco S&P SmallCap Value with Momentum ETF 17.6 39 -34 8.9 +2.1
JKJ iShares Morningstar Small-Cap ETF 17.5 25 -20 6.2 -0.6
VFQY Vanguard U.S. Quality Factor ETF 17.1 13 -8 6.2 -0.6
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 16.9 39 -34 6.3 -0.5
VFMF Vanguard U.S. Multifactor ETF 16.8 19 -14 7.1 +0.3
SQLV Legg Mason Small-Cap Quality Value 16.6 62 -57 6.2 -0.7
RZV Invesco S&P Smallcap 600 Pure Value ETF 16.2 35 -30 7.9 +1.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 15.6 20 -15 4.6 -2.2
VBR Vanguard Small Cap Value Index Fund 15.5 7 -2 7.8 +1.0
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 15.5 29 -24 7.5 +0.7
JKK iShares Morningstar Small-Cap Growth ETF 14.8 30 -25 1.0 -5.8
VFVA Vanguard U.S. Value Factor ETF 14.4 14 -9 10.6 +3.8
BFOR Barron's 400 ETF 14.3 65 -60 6.3 -0.5
CALF Pacer US Small Cap Cash Cows 100 ETF 14.2 59 -54 8.8 +2.0
DWAS Invesco DWA SmallCap Momentum ETF 14.1 60 -55 -2.0 -8.8
PSCT Invesco S&P SmallCap Information Technology ETF 13.9 29 -24 5.6 -1.2
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 13.6 20 -15 8.9 +2.1
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 13.1 80 -75 5.6 -1.3
JSML Janus Henderson Small Cap Growth Alpha ETF 13.1 30 -25 7.8 +1.0
BKSE BNY Mellon US Small Cap Core Equity ETF 12.9 4 1 5.5 -1.3
VB Vanguard Small-Cap ETF 12.7 5 0 5.1 -1.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 12.2 66 -61 2.2 -4.6
BUY USCF SummerHaven SHPEI Index Fund 12.1 80 -75 8.6 +1.8
VFLQ Vanguard U.S. Liquidity Factor ETF 12.1 14 -9 4.1 -2.8
PSCH Invesco S&P SmallCap Health Care ETF 11.8 29 -24 2.7 -4.1
VXF Vanguard Extended Market Index Fund 11.1 6 -1 3.4 -3.4
VUSE Vident Core US Equity Fund 10.6 48 -43 8.6 +1.8
IWC iShares Micro-Cap ETF 10.5 60 -55 -3.8 -10.6
FAB First Trust Multi Cap Value AlphaDEX Fund 10.4 71 -66 9.2 +2.4
VBK Vanguard Small-Cap Growth Index Fund 10.3 7 -2 2.2 -4.6
VAMO Cambria Value & Momentum ETF 9.9 63 -58 5.9 -0.9
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 9.5 30 -25 8.9 +2.1
VFMO Vanguard U.S. Momentum Factor ETF 9.1 13 -8 0.7 -6.1
JHSC John Hancock Multifactor Small Cap ETF 9.0 42 -37 5.4 -1.4
SMDV ProShares Russell 2000 Dividend Growers ETF 8.4 41 -36 6.3 -0.5
TUSA First Trust Total US Market AlphaDEX ETF 8.3 70 -65 5.5 -1.3
KRE SPDR S&P Regional Banking ETF 8.1 35 -30 9.6 +2.8
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 8.0 30 -25 5.4 -1.4
EZM WisdomTree U.S. MidCap Earnings Fund 7.7 38 -33 8.4 +1.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 7.7 70 -65 2.0 -4.8
ROOF IQ US Real Estate Small Cap ETF 7.6 70 -65 11.4 +4.6
KOMP SPDR Kensho New Economies Composite ETF 7.4 20 -15 2.2 -4.6
RNMC Mid Cap US Equity Select ETF 7.3 60 -55 7.3 +0.5

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 Portfolio Small Cap 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 10.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 6.8 %
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.