SPDR S&P 500 Buyback
ALTAR
Score™
7.0% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.2x P/Sales
ratio
1.5x
P/BV
ratio
2.5x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P 500 Buyback ETF is an exchange-traded fund incorporated in the USA. The Funds seeks to provide investment results that before fees and expenses, correspond generally to the price and yeild performance of the S&P 500 Buyback Index. Constituents are equally weighted and the fund is rebalanced quarterly.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Feb 05, 2015
Assets (mns) $30
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian State Street Bank & Trust Co
Weighting Equal
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $73,868
Large cap (>$10bn) 91.1%
Mid cap ($2-10bn) 8.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
QORVO INC 1.3 %
MORGAN STANLEY 1.2 %
HP INC. 1.2 %
APPLE INC 1.2 %
UNITED RENTALS INC 1.2 %
HUNTINGTON INGALLS INDUSTRIE 1.2 %
RALPH LAUREN CORP 1.2 %
LAM RESEARCH CORP 1.2 %
ELI LILLY & CO 1.2 %
BIOGEN IDEC INC 1.1 %
Total 12.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.8 %
IRELAND 1.9 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
31.9% 31.9% -- -- 9.5%

Market Correlations
versus... Beta R-squared
S&P500 1.15 90%
MSCI EAFE 1.11 69%
MSCI Emg. Mkts. 0.72 50%

Technical Indicators
Recent close $74.95
30d moving avg. $73.39
Annualized volatility 14.7%
Short interest (ETF) 1.4%
Short interest (Underlying) 4.8%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 4
Turnover 1.0%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $31,249

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the SPDR S&P 500 Buyback ETF based on the alternatives' overlap in portfolio holdings with SPYB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPYB Expense: 35 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPYB
Ticker Fund
Name
Overlap1
vs SPYB
(%)
Expense
ratio
(bp)
Savings
vs SPYB
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPYB
(%)
QSY WisdomTree U.S. Quality Shareholder Yield 43.1 38 -3 6.7 -0.3
LSAF LeaderShares AlphaFactor US Core Equity 42.7 75 -40 6.1 -0.9
PY Principal Shareholder Yield 33.9 29 6 7.7 +0.7
PKW Invesco Buyback Acheivevers 32.9 62 -27 5.7 -1.3
DIVB iShares U.S. Dividend & Buyback 29.1 25 10 6.4 -0.6
FTA First Trust Large Cap Value 28.5 62 -27 8.1 +1.2
QLC FlexShares US Quality Large Cap 28.4 32 3 5.7 -1.3
ESGS Columbia Sustainable U.S. Equity Income 27.1 35 0 7.9 +1.0
SPHB Invesco S&P 500 High Beta 26.6 25 10 6.3 -0.7
LVHB Elkhorn Lunt Low Vol/High Beta Tactical 26.5 52 -17 6.1 -0.9
SYLD Cambria Shareholder Yield 26.0 59 -24 8.5 +1.5
FLAG Forensic Accounting 25.5 152 -117 8.1 +1.1
SPVM Invesco S&P 500 Value with Momentum 25.0 39 -4 7.9 +0.9
USDY Pacific Global US Equity Income 24.7 29 6 7.1 +0.1
CLRG IQ Chaikin U.S. Large Cap 24.0 25 10 7.7 +0.7
EQWL Invesco Fundamental Pure Large Core 23.7 25 10 6.0 -1.0
MAGA Point Bridge GOP Stock Tracker 23.3 72 -37 6.1 -0.9
RYF Invesco S&P Equal Weight Financials 23.3 40 -5 6.9 -0.1
RPG Invesco S&P 500 Pure Growth ETF 23.2 35 0 4.8 -2.2

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%.

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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 S&P 500 Buyback
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 15.9 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 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.