SPDR S&P 500 Buyback ETF
ALTAR
Score™
9.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
22.2x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
2.7%


  • 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) $16
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 101
Wgt avg mkt cap (mns) $56,510
Large cap (>$10bn) 79.0%
Mid cap ($2-10bn) 21.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LOWE'S COS INC 1.3 %
EBAY INC 1.3 %
CARMAX INC 1.2 %
UNITED RENTALS INC 1.2 %
QORVO INC 1.2 %
DIAMONDBACK ENERGY INC 1.1 %
AUTOZONE INC 1.1 %
DISCOVER FINANCIAL SERVICES 1.1 %
HOLLYFRONTIER CORP 1.1 %
MCKESSON CORP 1.1 %
Total 11.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
BRITAIN 2.1 %
IRELAND 1.9 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-18.7% -2.3% 4.9% -- 4.5%

Market Correlations
versus... Beta R-squared
S&P500 1.25 93%
MSCI EAFE 1.30 87%
MSCI Emg. Mkts. 0.98 75%

Technical Indicators
Recent close $58.91
30d moving avg. $56.33
Annualized volatility 21.9%
Short interest (ETF) 9.7%
Short interest (Underlying) 4.8%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 18
Turnover 6.6%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $51,760

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR S&P 500 Buyback ETF 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™: 9.5%


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. LargeCap Value Fund 44.5 38 -3 6.6 -3.0
LSAF LeaderShares AlphaFactor US Core Equity ETF 43.3 75 -40 7.1 -2.4
PKW Invesco Buyback Achievers ETF 36.3 62 -27 6.6 -2.9
SPHB Invesco S&P 500 High Beta ETF 33.9 25 10 9.3 -0.2
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 33.8 49 -14 9.2 -0.4
SPVM Invesco S&P 500 Value with Momentum ETF 28.8 39 -4 8.9 -0.6
SLT Salt TruBeta High Exposure ETF 28.7 29 6 6.3 -3.2
RYF Invesco S&P 500 Equal Weight Financials ETF 27.6 40 -5 9.2 -0.4
FTA First Trust Large Cap Value AlphaDEX Fund 27.3 60 -25 8.6 -0.9
DIVB iShares U.S. Dividend & Buyback ETF 27.3 25 10 6.3 -3.2
ESGS Columbia Sustainable U.S. Equity Income ETF 26.6 35 0 8.6 -0.9
PY Principal Shareholder Yield Index ETF 26.2 29 6 8.8 -0.7
SYLD Cambria Shareholder Yield ETF 25.9 59 -24 8.5 -1.0
QLC FlexShares US Quality Large Cap Index Fund 24.4 32 3 5.5 -4.0
EQWL Invesco Russell Top 200 Equal Weight ETF 24.1 25 10 5.9 -3.6
SPGP Invesco S&P 500 GARP ETF 23.9 35 0 7.0 -2.5
RPV Invesco S&P 500 Pure Value ETF 23.5 35 0 10.6 +1.1
USDY Pacific Global US Equity Income ETF 23.3 29 6 7.5 -2.0
RAFE PIMCO RAFI ESG U.S. ETF 22.8 29 6 7.5 -2.0
VALQ American Century STOXX U.S. Quality Value ETF 22.3 29 6 8.6 -0.9
JHMF John Hancock Multifactor Financials ETF 22.2 40 -5 7.3 -2.2
RNLC Large Cap US Equity Select ETF 22.0 60 -25 6.0 -3.5
KRMA Global X Conscious Companies ETF 21.6 43 -8 5.2 -4.3
JVAL JPMorgan U.S. Value Factor ETF 21.4 12 23 8.5 -1.0
RNDV US Equity Dividend Select ETF 21.4 50 -15 7.4 -2.1
PWV Invesco Dynamic Large Cap Value ETF 21.3 55 -20 8.0 -1.5
FVAL Fidelity Value Factor ETF 21.1 29 6 8.0 -1.6
RDVY First Trust Rising Dividend Achievers ETF 21.1 50 -15 7.5 -2.0
RYT Invesco S&P 500 Equal Weight Technology ETF 21.1 40 -5 7.3 -2.3
MAGA Point Bridge GOP Stock Tracker ETF 20.9 72 -37 6.3 -3.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 20.9 35 0 8.2 -1.3
EPS WisdomTree U.S. Earnings 500 Fund 20.8 8 27 6.4 -3.1
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 20.7 15 20 6.2 -3.3
SPVU Invesco S&P 500 Enhanced Value ETF 20.5 13 22 10.4 +0.9
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 20.4 49 -14 5.4 -4.1
VLUE iShares Edge MSCI USA Value Factor ETF 20.4 15 20 10.7 +1.2
JKI iShares Morningstar Mid-Cap Value ETF 20.3 30 5 9.1 -0.4
DSTL Distillate US Fundamental Stability & Value ETF 20.3 39 -4 6.4 -3.1
EXT WisdomTree U.S. Total Earnings Fund 20.2 28 7 5.7 -3.8
VLU SPDR S&P 1500 Value Tilt ETF 20.1 12 23 7.1 -2.4
CLRG IQ Chaikin U.S. Large Cap ETF 20.1 25 10 6.0 -3.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 20.0 60 -25 4.1 -5.4
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 19.9 35 0 4.3 -5.2
RSP Invesco S&P 500 Equal Weight ETF 19.9 20 15 6.6 -2.9
ROUS Hartford Multifactor US Equity ETF 19.8 19 16 7.1 -2.4
QDIV Global X S&P 500 Quality Dividend ETF 19.8 20 15 8.1 -1.4
IEFN iShares Evolved U.S. Financials ETF 19.6 18 17 8.6 -0.9
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 19.3 17 18 6.8 -2.7
AFLG First Trust Active Factor Large Cap ETF 19.3 55 -20 5.6 -3.9
DGRO iShares Core Dividend Growth ETF 19.3 8 27 6.4 -3.1
SCHV Schwab U.S. Large-Cap Value ETF 19.2 4 31 6.9 -2.6
FEX First Trust Large Cap Core AlphaDEX Fund 19.2 60 -25 5.9 -3.6
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 19.0 20 15 7.5 -2.0
XLF Financial Select Sector SPDR Fund 18.9 13 22 7.7 -1.8
RWL Invesco S&P 500 Revenue ETF 18.7 39 -4 6.7 -2.8
FDRR Fidelity Dividend ETF for Rising Rates 18.7 29 6 6.9 -2.6
VTV Vanguard Value Index Fund 18.6 4 31 7.1 -2.4
RVRS Reverse Cap Weighted U.S. Large Cap ETF 18.4 29 6 7.0 -2.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 18.4 25 10 6.4 -3.1
CVY Invesco Zacks Multi-Asset Income ETF 18.3 97 -62 11.8 +2.3
FQAL Fidelity Quality Factor ETF 17.9 29 6 5.4 -4.1
VOE Vanguard Mid-Cap Value Index Fund 17.9 7 28 7.6 -1.9
PRF Invesco FTSE RAFI US 1000 ETF 17.9 39 -4 6.6 -2.9
VFH Vanguard Financials Index Fund 17.7 10 25 8.2 -1.3
COWZ Pacer US Cash Cows 100 ETF 17.7 49 -14 9.4 -0.1
RPG Invesco S&P 500 Pure Growth ETF 17.6 35 0 4.4 -5.1
SPYV SPDR Portfolio S&P 500 Value ETF 17.6 4 31 7.2 -2.3
IVE iShares S&P 500 Value ETF 17.5 18 17 7.0 -2.5
FCPI Fidelity Stocks for Inflation ETF 17.5 29 6 6.7 -2.8
FNCL Fidelity MSCI Financials Index ETF 17.5 8 27 8.2 -1.3
USMF WisdomTree U.S. Multifactor Fund 17.5 28 7 6.1 -3.4
VOOV Vanguard S&P 500 Value ETF 17.5 15 20 7.1 -2.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 17.3 25 10 6.4 -3.1
MGV Vanguard Mega Cap Value ETF 17.3 7 28 7.0 -2.5
DLN WisdomTree U.S. LargeCap Dividend Fund 17.1 28 7 6.3 -3.2
VFMF Vanguard U.S. Multifactor ETF 16.9 18 17 7.2 -2.4
QDYN FlexShares Quality Dividend Dynamic Index Fund 16.9 37 -2 6.7 -2.8
JHML John Hancock Multifactor Large Cap ETF 16.9 34 1 5.5 -4.0
IUSV iShares Core S&P U.S. Value ETF 16.8 4 31 7.2 -2.3
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 16.8 35 0 8.3 -1.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 16.7 19 16 5.6 -3.9
QDF FlexShares Quality Dividend Index Fund 16.7 37 -2 6.8 -2.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 16.7 30 5 6.6 -2.9
FLQL Franklin LibertyQ U.S. Equity ETF 16.6 15 20 6.2 -3.3
DTD WisdomTree U.S.Total Dividend Fund 16.6 28 7 6.5 -3.0
AVUS Avantis U.S. Equity ETF 16.6 15 20 5.7 -3.8
AUSF Global X Adaptive U.S. Factor ETF 16.3 27 8 7.8 -1.7
PBP Invesco S&P 500 BuyWrite ETF 16.3 49 -14 5.1 -4.4
JKF iShares Morningstar Large Cap Value ETF 16.3 25 10 7.5 -2.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 16.2 9 26 5.8 -3.7
QUS SPDR MSCI USA StrategicFactors ETF 16.2 15 20 5.8 -3.7
ONEY SPDR Russell 1000 Yield Focus ETF 16.0 20 15 8.0 -1.5
ESG FlexShares STOXX US ESG Impact Index Fund 16.0 32 3 5.2 -4.3
HSPX Global X S&P 500 Covered Call ETF 16.0 65 -30 4.9 -4.6
FDVV Fidelity Core Dividend ETF 15.9 29 6 7.1 -2.4
ONEO SPDR Russell 1000 Momentum Focus ETF 15.9 20 15 6.4 -3.1
PWC Invesco Dynamic Market ETF 15.9 59 -24 6.9 -2.6
RECS Columbia Research Enhanced Core ETF 15.9 15 20 5.6 -3.9
ESGU iShares MSCI USA ESG Optimized ETF 15.8 15 20 5.1 -4.4

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 S&P 500 Buyback ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 9.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 CATEGORY
AVERAGE
1.53
 
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.