SPDR S&P 1500 Value Tilt
ALTAR
Score™
7.2% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.7x P/Sales
ratio
1.1x
P/BV
ratio
2.1x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P 1500 Value Tilt ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to provide investment results that before fees and expenses, correspond generally to the price and yield performance of the S&P 1500 Low Valuation Tilt Index.

FUND BASICS
Category US Equities
Fund Sponsor SSgA Funds Management Inc
Website www.spdrs.com
Inception date Oct 25, 2012
Assets (mns) $23
Currency USD
Expense ratio 12 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Fundamental
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1389
Wgt avg mkt cap (mns) $186,703
Large cap (>$10bn) 85.7%
Mid cap ($2-10bn) 11.3%
Small cap (<$2bn) 3.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 2.7 %
WAL-MART STORES INC 2.6 %
BERKSHIRE HATHAWAY INC-CL B 2.3 %
AT&T INC 2.0 %
JPMORGAN CHASE & CO 1.9 %
BANK OF AMERICA CORP 1.7 %
WELLS FARGO & CO 1.6 %
EXXON MOBIL CORP 1.5 %
CVS CAREMARK CORP 1.5 %
MICROSOFT CORP 1.3 %
Total 19.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
IRELAND 1.7 %
BRITAIN 1.0 %
SWITZERLAND 0.6 %
BERMUDA 0.2 %
PUERTO RICO 0.0 %
CAYMAN ISLANDS 0.0 %
NETHERLANDS 0.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
23.0% 10.9% 8.8% -- 12.6%

Market Correlations
versus... Beta R-squared
S&P500 1.01 90%
MSCI EAFE 0.95 67%
MSCI Emg. Mkts. 0.64 49%

Technical Indicators
Recent close $112.51
30d moving avg. $110.30
Annualized volatility 12.8%
Short interest (ETF) 0.9%
Short interest (Underlying) 2.8%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.0%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $167,008

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR S&P 1500 Value Tilt ETF based on the alternatives' overlap in portfolio holdings with VLU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VLU Expense: 12 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VLU
Ticker Fund
Name
Overlap1
vs VLU
(%)
Expense
ratio
(bp)
Savings
vs VLU
(bp)
ALTAR
Score™
(%)
ALTAR
vs VLU
(%)
PRF Invesco FTSE-RAFI U.S. 1000 81.5 39 -27 6.4 -0.8
FNDB Schwab Fundamental Broad Mkt 77.7 25 -13 5.9 -1.3
FNDX Schwab Fundamental Large Cap 75.7 25 -13 5.9 -1.4
RWL Invesco S&P 500 Revenue ETF 72.1 39 -27 7.4 +0.2
EXT WisdomTree Total Earnings 67.3 28 -16 6.7 -0.5
EPS WisdomTree Earnings 500 66.8 8 4 6.7 -0.5
SCHB Schwab U.S. Broad Market 66.5 3 9 5.7 -1.5
ITOT iShares Core S&P Total US 66.3 3 9 5.6 -1.7
IUSV iShares Core U.S. Value 66.2 4 8 7.0 -0.2
IWV iShares Russell 3000 66.2 20 -8 5.4 -1.8
VTHR Vanguard Russell 3000 65.9 15 -3 5.5 -1.7
IYY iShares DJ US Total Market 65.9 20 -8 5.6 -1.6
VTI Vanguard Total Market 65.8 3 9 5.6 -1.6
IUS Invesco Strategic US 65.7 19 -7 5.9 -1.3
SCHK Schwab 1000 Index 65.5 5 7 5.8 -1.4
PBP Invesco S&P 500 Buy/Write 65.5 49 -37 5.4 -1.8
TILT Flexshares Morningstar US Market Factor Tilt 65.5 25 -13 5.8 -1.4
SPY S&P 500 SPDR 65.0 9 3 5.8 -1.4
IWB iShares Russell 1000 65.0 15 -3 5.6 -1.6
IVV iShares Core S&P 500 65.0 4 8 5.8 -1.4

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

  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 S&P 1500 Value Tilt
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 13.9 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.56
 
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.