SPDR S&P 500 High Dividend ETF
ALTAR
Score™
10.8% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
12.9x P/Sales
ratio
1.0x
P/BV
ratio
1.3x Div.
yield
5.8%


  • 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) $1,840
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 65
Wgt avg mkt cap (mns) $47,655
Large cap (>$10bn) 78.0%
Mid cap ($2-10bn) 22.1%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GILEAD SCIENCES INC 2.6 %
ABBVIE INC 2.6 %
GENERAL MILLS INC 2.6 %
DIGITAL REALTY TRUST INC 2.5 %
CROWN CASTLE INTL CORP 2.5 %
KRAFT FOODS GROUP INC 2.3 %
BROADCOM INC. 2.2 %
AMCOR PLC 2.2 %
KELLOGG CO 2.1 %
CARDINAL HEALTH INC 2.0 %
Total 23.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.3 %
BRITAIN 3.8 %
IRELAND 1.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-27.3% -22.8% -- -- 3.1%

Market Correlations
versus... Beta R-squared
S&P500 1.17 79%
MSCI EAFE 1.24 77%
MSCI Emg. Mkts. 0.91 66%

Technical Indicators
Recent close $26.79
30d moving avg. $28.76
Annualized volatility 22.3%
Short interest (ETF) 0.3%
Short interest (Underlying) 4.9%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 1,983
Turnover 2.9%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $26,928

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 10.8%


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 58.1 30 -23 10.2 -0.6
SDOG ALPS Sector Dividend Dogs ETF 52.6 40 -33 10.7 -0.1
SPDV AAM S&P 500 High Dividend Value ETF 49.2 29 -22 11.4 +0.6
DTN WisdomTree U.S. Dividend ex-Financials Fund 46.9 38 -31 8.2 -2.6
DVY iShares Select Dividend ETF 41.3 39 -32 10.1 -0.7
DHS WisdomTree U.S. High Dividend Fund 38.4 38 -31 8.9 -1.9
RDIV Invesco S&P Ultra Dividend Revenue ETF 37.3 39 -32 11.8 +1.0
PEY Invesco High Yield Equity Dividend Achievers ETF 33.2 53 -46 9.6 -1.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 31.3 35 -28 9.0 -1.9
LVHD Legg Mason Low Volatility High Dividend ETF 30.8 27 -20 9.1 -1.7
GBDV Global Beta Smart Income ETF 30.1 29 -22 9.3 -1.5
FDL First Trust Morningstar Dividend Leaders Index Fund 29.8 45 -38 10.6 -0.3
WBIY WBI Power Factor High Dividend ETF 29.6 70 -63 13.0 +2.2
DEW WisdomTree Global High Dividend Fund 29.3 58 -51 9.6 -1.3
PWV Invesco Dynamic Large Cap Value ETF 26.2 55 -48 9.1 -1.7
FDVV Fidelity Core Dividend ETF 26.0 29 -22 7.3 -3.6
DLN WisdomTree U.S. LargeCap Dividend Fund 25.4 28 -21 6.5 -4.3
VYM Vanguard High Dividend Yield Index ETF 24.7 6 1 7.6 -3.3
DIV Global X SuperDividend US ETF 24.7 46 -39 7.4 -3.5
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 24.2 35 -28 8.9 -1.9
JKF iShares Morningstar Large Cap Value ETF 23.8 25 -18 7.8 -3.1
RNDV US Equity Dividend Select ETF 23.6 50 -43 7.9 -3.0
USDY Pacific Global US Equity Income ETF 23.5 29 -22 7.5 -3.4
DTD WisdomTree U.S.Total Dividend Fund 23.5 28 -21 6.8 -4.1
FDRR Fidelity Dividend ETF for Rising Rates 23.1 29 -22 7.1 -3.7
JDIV JPMorgan U.S. Dividend ETF 23.0 12 -5 8.1 -2.7
GCOW Pacer Global High Dividend ETF 22.8 60 -53 10.6 -0.2
HDV iShares Core High Dividend ETF 21.9 8 -1 6.9 -3.9
DURA VanEck Vectors Morningstar Durable Dividend ETF 21.9 29 -22 7.4 -3.4
JKI iShares Morningstar Mid-Cap Value ETF 21.4 30 -23 9.6 -1.2
VOOV Vanguard S&P 500 Value ETF 20.7 15 -8 7.6 -3.3
IVE iShares S&P 500 Value ETF 20.7 18 -11 7.5 -3.4
SPYV SPDR Portfolio S&P 500 Value ETF 20.7 4 3 7.6 -3.2
MGV Vanguard Mega Cap Value ETF 20.6 7 0 7.5 -3.4
SCHV Schwab U.S. Large-Cap Value ETF 20.2 4 3 7.4 -3.5
PY Principal Shareholder Yield Index ETF 19.9 29 -22 9.9 -0.9
VTV Vanguard Value Index Fund 19.8 4 3 7.6 -3.2
COWZ Pacer US Cash Cows 100 ETF 19.8 49 -42 11.2 +0.3
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 19.8 75 -68 6.2 -4.6
IUSV iShares Core S&P U.S. Value ETF 19.7 4 3 7.7 -3.2
ESGS Columbia Sustainable U.S. Equity Income ETF 19.5 35 -28 8.9 -2.0
VALQ American Century STOXX U.S. Quality Value ETF 19.1 29 -22 9.4 -1.5
QDIV Global X S&P 500 Quality Dividend ETF 19.0 20 -13 7.9 -2.9
OUSA O'Shares FTSE US Quality Dividend ETF 19.0 48 -41 5.7 -5.1
SCHD Schwab U.S. Dividend Equity ETF 18.5 6 1 8.5 -2.3
QDEF FlexShares Quality Dividend Defensive Index Fund 18.4 37 -30 5.9 -4.9
FVAL Fidelity Value Factor ETF 18.2 29 -22 8.1 -2.7
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 18.0 49 -42 9.8 -1.1
SPHB Invesco S&P 500 High Beta ETF 17.9 25 -18 9.9 -0.9
IWX iShares Russell Top 200 Value ETF 17.9 20 -13 7.3 -3.5
VONV Vanguard Russell 1000 Value Index Fund 17.9 8 -1 7.5 -3.4
EQWL Invesco Russell Top 200 Equal Weight ETF 17.9 25 -18 6.2 -4.6
FTA First Trust Large Cap Value AlphaDEX Fund 17.9 60 -53 9.7 -1.2
MAGA Point Bridge GOP Stock Tracker ETF 17.6 72 -65 6.8 -4.0
PRF Invesco FTSE RAFI US 1000 ETF 17.6 39 -32 7.0 -3.9
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 17.2 40 -33 7.2 -3.6
VLUE iShares Edge MSCI USA Value Factor ETF 17.2 15 -8 11.7 +0.9
RPV Invesco S&P 500 Pure Value ETF 16.9 35 -28 11.8 +1.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 16.8 25 -18 6.7 -4.2
QDF FlexShares Quality Dividend Index Fund 16.4 37 -30 6.2 -4.6
DIVB iShares U.S. Dividend & Buyback ETF 16.3 25 -18 6.7 -4.1
NULV Nuveen ESG Large-Cap Value ETF 16.3 35 -28 7.6 -3.3
JVAL JPMorgan U.S. Value Factor ETF 16.3 12 -5 9.0 -1.9
VLU SPDR S&P 1500 Value Tilt ETF 16.2 12 -5 7.7 -3.2
SPVM Invesco S&P 500 Value with Momentum ETF 16.2 39 -32 9.5 -1.3
ONEY SPDR Russell 1000 Yield Focus ETF 16.0 20 -13 9.8 -1.0
WLDR Affinity World Leaders Equity ETF 15.9 47 -40 9.8 -1.1
SDY SPDR S&P Dividend ETF 15.8 35 -28 7.3 -3.6
IWD iShares Russell 1000 Value ETF 15.7 19 -12 7.4 -3.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 15.7 25 -18 6.7 -4.2
SPVU Invesco S&P 500 Enhanced Value ETF 15.4 13 -6 12.1 +1.2
FMK First Trust Mega Cap AlphaDEX Fund 15.4 70 -63 5.2 -5.7
XLRE The Real Estate Select Sector SPDR Fund 15.0 13 -6 5.7 -5.2
RWL Invesco S&P 500 Revenue ETF 14.9 39 -32 7.4 -3.4
RFDA RiverFront Dynamic US Dividend Advantage ETF 14.7 52 -45 5.0 -5.8
RYF Invesco S&P 500 Equal Weight Financials ETF 14.7 40 -33 10.1 -0.7
BVAL Brand Value ETF 14.6 65 -58 6.2 -4.7
QDYN FlexShares Quality Dividend Dynamic Index Fund 14.4 37 -30 6.3 -4.5
RAFE PIMCO RAFI ESG U.S. ETF 14.2 29 -22 8.0 -2.9
REVS Columbia Research Enhanced Value ETF 14.2 19 -12 7.9 -2.9
PFM Invesco Dividend Achievers ETF 13.9 54 -47 5.5 -5.3
SCHH Schwab U.S. REIT ETF 13.9 7 0 6.8 -4.0
PSR Invesco Active U.S. Real Estate Fund 13.8 35 -28 6.5 -4.4
IGE iShares North American Natural Resources ETF 13.8 46 -39 4.3 -6.5
IYR iShares U.S. Real Estate ETF 13.6 42 -35 6.7 -4.2
LSLT Salt Low truBeta US Market ETF 13.6 29 -22 6.1 -4.7
NOBL ProShares S&P 500 Dividend Aristocrats ETF 13.6 35 -28 6.3 -4.6
FREL Fidelity MSCI Real Estate Index ETF 13.5 8 -1 6.8 -4.0
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 13.4 75 -68 5.9 -5.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 13.3 29 -22 6.3 -4.5
SPMV Invesco S&P 500 Minimum Variance ETF 13.2 10 -3 5.9 -5.0
EPS WisdomTree U.S. Earnings 500 Fund 13.2 8 -1 6.6 -4.3
STLV iShares Factors US Value Style ETF 13.1 25 -18 8.1 -2.8
VFVA Vanguard U.S. Value Factor ETF 13.0 14 -7 12.1 +1.3
VNQ Vanguard REIT Index Fund 12.9 12 -5 6.8 -4.1
TPHD Timothy Plan High Dividend Stock ETF 12.8 52 -45 8.0 -2.9
IUS Invesco Strategic US ETF 12.8 19 -12 6.8 -4.0
FLQL Franklin LibertyQ U.S. Equity ETF 12.8 15 -8 6.3 -4.5
SPXT ProShares S&P 500 Ex-Technology ETF 12.7 27 -20 5.7 -5.1
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 12.7 15 -8 7.0 -3.8

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 13.9 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 10.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.52
 
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.