SPDR S&P 500 High Dividend ETF
ALTAR
Score™
11.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.9x P/Sales
ratio
1.1x
P/BV
ratio
1.1x Div.
yield
5.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P 500 High Dividend ETF tracks an index of the 80 highest-yielding stocks selected from the S&P 500. Stocks are equally weighted.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.spdrs.com
Inception date Oct 21, 2015
Assets (mns) $1,928
Currency USD
Expense ratio 7 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 81
Wgt avg mkt cap (mns) $34,301
Large cap (>$10bn) 70.1%
Mid cap ($2-10bn) 29.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CBS CORP-CLASS B NON VOTING 1.5 %
LEGGETT & PLATT INC 1.5 %
BROADCOM INC. 1.5 %
PUBLIC STORAGE 1.5 %
HANESBRANDS INC 1.5 %
XEROX CORP 1.5 %
VENTAS INC 1.5 %
DOW, INC. 1.5 %
INTERNATIONAL PAPER CO 1.4 %
SIMON PROPERTY GROUP INC 1.4 %
Total 14.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.4 %
BRITAIN 2.7 %
IRELAND 1.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-25.7% -16.7% -- -- 3.5%

Market Correlations
versus... Beta R-squared
S&P500 1.11 76%
MSCI EAFE 1.21 76%
MSCI Emg. Mkts. 0.88 64%

Technical Indicators
Recent close $26.96
30d moving avg. $28.44
Annualized volatility 22.3%
Short interest (ETF) 0.4%
Short interest (Underlying) 4.9%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 1,402
Turnover 2.0%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $5,239

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR S&P 500 High Dividend ETF ETF based on the alternatives' overlap in portfolio holdings with SPYD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPYD Expense: 7 bp ALTAR Score™: 11.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPYD
Ticker Fund
Name
Overlap1
vs SPYD
(%)
Expense
ratio
(bp)
Savings
vs SPYD
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPYD
(%)
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 55.3 30 -23 9.8 -2.0
DVY iShares Select Dividend ETF 48.3 39 -32 9.8 -1.9
SPDV AAM S&P 500 High Dividend Value ETF 43.6 29 -22 10.3 -1.4
DTN WisdomTree U.S. Dividend ex-Financials Fund 41.2 38 -31 8.1 -3.6
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 39.0 35 -28 8.7 -3.0
SDOG ALPS Sector Dividend Dogs ETF 35.1 40 -33 10.5 -1.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 34.4 39 -32 11.2 -0.5
FDL First Trust Morningstar Dividend Leaders Index Fund 33.9 45 -38 10.6 -1.1
DHS WisdomTree U.S. High Dividend Fund 32.2 38 -31 8.9 -2.8
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 30.8 35 -28 8.8 -2.9
PEY Invesco High Yield Equity Dividend Achievers ETF 29.6 52 -45 10.3 -1.4
GBDV Global Beta Smart Income ETF 28.6 29 -22 8.7 -3.0
SPHB Invesco S&P 500 High Beta ETF 27.6 25 -18 9.3 -2.4
ESGS Columbia Sustainable U.S. Equity Income ETF 26.6 35 -28 9.2 -2.5
WBIY WBI Power Factor High Dividend ETF 26.4 70 -63 11.6 -0.1
FTA First Trust Large Cap Value AlphaDEX Fund 25.9 60 -53 9.6 -2.2
JKI iShares Morningstar Mid-Cap Value ETF 25.1 30 -23 9.3 -2.4
QDIV Global X S&P 500 Quality Dividend ETF 24.9 20 -13 7.9 -3.8
ONEY SPDR Russell 1000 Yield Focus ETF 24.4 20 -13 9.3 -2.4
USDY Pacific Global US Equity Income ETF 24.1 29 -22 7.2 -4.5
RNDV US Equity Dividend Select ETF 23.7 50 -43 8.3 -3.4
RPV Invesco S&P 500 Pure Value ETF 23.6 35 -28 11.4 -0.3
DEW WisdomTree Global High Dividend Fund 23.5 58 -51 9.8 -1.9
RYF Invesco S&P 500 Equal Weight Financials ETF 23.2 40 -33 10.0 -1.7
PY Principal Shareholder Yield Index ETF 23.1 15 -8 10.0 -1.7
FDVV Fidelity Core Dividend ETF 22.6 29 -22 7.7 -4.0
LVHD Legg Mason Low Volatility High Dividend ETF 22.4 27 -20 8.4 -3.3
MAGA Point Bridge GOP Stock Tracker ETF 22.1 72 -65 6.5 -5.2
SPVU Invesco S&P 500 Enhanced Value ETF 21.9 13 -6 12.2 +0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 21.9 28 -21 7.1 -4.6
VYM Vanguard High Dividend Yield Index ETF 21.8 6 1 7.6 -4.1
AUSF Global X Adaptive U.S. Factor ETF 21.7 27 -20 9.5 -2.2
DTD WisdomTree U.S.Total Dividend Fund 21.4 28 -21 7.2 -4.5
JDIV JPMorgan U.S. Dividend ETF 21.2 12 -5 8.0 -3.7
FDRR Fidelity Dividend ETF for Rising Rates 20.6 29 -22 7.7 -4.0
JKF iShares Morningstar Large Cap Value ETF 20.6 25 -18 7.8 -4.0
VLUE iShares Edge MSCI USA Value Factor ETF 20.3 15 -8 11.8 +0.1
SLT Salt TruBeta High Exposure ETF 20.2 29 -22 9.0 -2.7
SCHD Schwab U.S. Dividend Equity ETF 19.5 6 1 8.1 -3.6
SCHV Schwab U.S. Large-Cap Value ETF 19.1 4 3 7.3 -4.5
GCOW Pacer Global High Dividend ETF 19.1 60 -53 10.9 -0.8
VOOV Vanguard S&P 500 Value ETF 18.9 10 -3 7.4 -4.3
FXO First Trust Financials AlphaDEX Fund 18.9 63 -56 13.5 +1.8
IVE iShares S&P 500 Value ETF 18.8 18 -11 7.4 -4.4
SPYV SPDR Portfolio S&P 500 Value ETF 18.7 4 3 7.5 -4.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 18.4 29 -22 8.1 -3.6
SPVM Invesco S&P 500 Value with Momentum ETF 18.3 39 -32 9.1 -2.6
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 18.3 40 -33 7.2 -4.5
VTV Vanguard Value Index Fund 18.1 4 3 7.5 -4.2
VFVA Vanguard U.S. Value Factor ETF 18.0 14 -7 11.5 -0.2
IUSV iShares Core S&P U.S. Value ETF 17.9 4 3 7.6 -4.1
MGV Vanguard Mega Cap Value ETF 17.8 7 0 7.3 -4.4
QDEF FlexShares Quality Dividend Defensive Index Fund 17.8 37 -30 7.0 -4.7
JVAL JPMorgan U.S. Value Factor ETF 17.2 12 -5 9.0 -2.7
COWZ Pacer US Cash Cows 100 ETF 17.2 49 -42 10.9 -0.9
VLU SPDR S&P 1500 Value Tilt ETF 17.1 12 -5 7.7 -4.0
EQWL Invesco Russell Top 200 Equal Weight ETF 17.0 25 -18 6.3 -5.5
DIVB iShares U.S. Dividend & Buyback ETF 17.0 25 -18 7.3 -4.5
VALQ American Century STOXX U.S. Quality Value ETF 17.0 29 -22 9.2 -2.5
OUSA O'Shares FTSE US Quality Dividend ETF 16.7 48 -41 6.6 -5.1
PRF Invesco FTSE RAFI US 1000 ETF 16.7 39 -32 7.4 -4.4
TPHD Timothy Plan High Dividend Stock ETF 16.5 52 -45 7.7 -4.0
NUMV Nuveen ESG Mid-Cap Value ETF 16.1 40 -33 7.3 -4.4
SDY SPDR S&P Dividend ETF 16.1 35 -28 7.3 -4.4
DURA VanEck Vectors Morningstar Durable Dividend ETF 16.0 29 -22 7.2 -4.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 16.0 25 -18 7.4 -4.3
PMOM Principal Sustainable Momentum Index ETF 15.9 29 -22 9.5 -2.2
DIV Global X SuperDividend US ETF 15.9 46 -39 6.2 -5.5
QDYN FlexShares Quality Dividend Dynamic Index Fund 15.5 37 -30 7.1 -4.6
IWD iShares Russell 1000 Value ETF 15.4 19 -12 7.0 -4.7
VONV Vanguard Russell 1000 Value Index Fund 15.4 8 -1 7.1 -4.6
XLRE The Real Estate Select Sector SPDR Fund 15.4 13 -6 5.8 -5.9
PVAL Principal Contrarian Value Index ETF 15.2 29 -22 10.6 -1.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 15.1 25 -18 7.4 -4.3
USRT iShares Core U.S. REIT ETF 15.0 8 -1 7.6 -4.1
FAB First Trust Multi Cap Value AlphaDEX Fund 14.9 71 -64 10.3 -1.4
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 14.9 11 -4 7.6 -4.2
FRI First Trust S&P REIT Index Fund 14.9 50 -43 7.3 -4.5
RWL Invesco S&P 500 Revenue ETF 14.9 39 -32 7.5 -4.2
SYLD Cambria Shareholder Yield ETF 14.8 59 -52 9.3 -2.4
NOBL ProShares S&P 500 Dividend Aristocrats ETF 14.8 35 -28 6.2 -5.5
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 14.8 75 -68 5.7 -6.0
NULV Nuveen ESG Large-Cap Value ETF 14.8 35 -28 7.4 -4.3
IWX iShares Russell Top 200 Value ETF 14.7 20 -13 6.9 -4.8
RWR SPDR Dow Jones REIT ETF 14.6 25 -18 7.7 -4.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 14.5 15 -8 7.1 -4.6
RSP Invesco S&P 500 Equal Weight ETF 14.2 20 -13 6.7 -5.0
RAFE PIMCO RAFI ESG U.S. ETF 14.2 29 -22 7.7 -4.0
SCHH Schwab U.S. REIT ETF 14.2 7 0 6.9 -4.8
FEX First Trust Large Cap Core AlphaDEX Fund 14.1 60 -53 6.1 -5.6
VOE Vanguard Mid-Cap Value Index Fund 14.0 7 0 7.9 -3.8
STLV iShares Factors US Value Style ETF 13.8 25 -18 7.4 -4.4
FREL Fidelity MSCI Real Estate Index ETF 13.7 8 -1 6.8 -4.9
YLDE ClearBridge Dividend Strategy ESG ETF 13.7 60 -53 5.4 -6.3
HDV iShares Core High Dividend ETF 13.7 8 -1 7.1 -4.7
IYR iShares U.S. Real Estate ETF 13.7 42 -35 6.7 -5.0
REVS Columbia Research Enhanced Value ETF 13.7 19 -12 7.6 -4.1
QDF FlexShares Quality Dividend Index Fund 13.7 37 -30 7.0 -4.7
PWV Invesco Dynamic Large Cap Value ETF 13.7 56 -49 8.3 -3.4

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 High Dividend 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 12.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 11.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 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.