SPDR Portfolio S&P 500 Growth
ALTAR
Score™
5.1% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
23.1x P/Sales
ratio
3.7x
P/BV
ratio
5.1x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR DJ Wilshire Large Cap Growth ETF Fund objective is to replicate as closely as possible the performance of the Dow Jones Wilshire Large Cap Growth Index. The Fund will normally invest at l

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Sep 29, 2000
Assets (mns) $5,049
Currency USD
Expense ratio 4 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 298
Wgt avg mkt cap (mns) $313,131
Large cap (>$10bn) 98.9%
Mid cap ($2-10bn) 1.1%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 8.2 %
AMAZON.COM INC 5.5 %
FACEBOOK 3.4 %
ALPHABET INC. CLASS C 2.9 %
ALPHABET INC. CLASS A 2.9 %
VISA INC-CLASS A SHARES 2.3 %
MASTERCARD INC-CLASS A 1.8 %
VERIZON COMMUNICATIONS INC 1.8 %
MERCK & CO. INC. 1.6 %
BERKSHIRE HATHAWAY INC-CL B 1.5 %
Total 31.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
IRELAND 2.1 %
BRITAIN 1.0 %
SWITZERLAND 0.1 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
23.1% 14.3% 12.4% 15.1% 3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.96 92%
MSCI EAFE 0.85 61%
MSCI Emg. Mkts. 0.60 49%

Technical Indicators
Recent close $40.12
30d moving avg. $39.20
Annualized volatility 12.1%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.2%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 768
Turnover 0.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $86,653

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR Portfolio S&P 500 Growth ETF based on the alternatives' overlap in portfolio holdings with SPYG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPYG Expense: 4 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPYG
Ticker Fund
Name
Overlap1
vs SPYG
(%)
Expense
ratio
(bp)
Savings
vs SPYG
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPYG
(%)
IVW iShares S&P 500 Growth 99.7 18 -14 5.0 -0.1
VOOG Vanguard S&P 500 Growth 99.4 15 -11 5.0 -0.1
IUSG iShares Core U.S. Growth 93.5 4 0 5.1 0.0
PBP Invesco S&P 500 Buy/Write 68.0 49 -45 5.6 +0.5
IWF iShares Russell 1000 Growth 67.9 19 -15 5.0 -0.1
SPXN ProShares S&P 500 Ex-Financials 67.6 27 -23 5.9 +0.8
VONG Vanguard Russell 1000 Growth 67.5 12 -8 5.1 -0.0
HSPX Global X S&P 500 Covered Call 66.9 65 -61 5.4 +0.3
SPXE ProShares S&P 500 Ex-Energy 66.4 27 -23 5.9 +0.8
SPY S&P 500 SPDR 66.2 9 -5 5.9 +0.8
IVV iShares Core S&P 500 66.2 4 0 6.0 +0.9
VOO Vanguard S&P 500 ETF 66.0 3 1 6.0 +0.9
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 65.9 20 -16 6.0 +0.9
VUG Vanguard Growth ETF 65.6 4 0 4.9 -0.2
SFY SoFi Select 500 65.2 0 4 5.7 +0.6
OMOM Invesco Russell 1000 Momentum Factor ETF 65.0 19 -15 5.3 +0.2
MGC Vanguard Mega Cap 300 ETF 63.6 7 -3 5.9 +0.8
BBUS JP Morgan Betabuilders U.S. Equity 63.6 2 2 5.9 +0.8
VV Vanguard Large-Cap ETF 63.5 4 0 5.9 +0.8
IWL iShares Russell Top 200 63.2 15 -11 5.7 +0.6

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

Content on this tab for subscribers only

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 22.8 %
Divided by: Fwd. P/BV 4.5 x
Less: Expense ratio 4 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 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.