SPDR S&P Homebuilders
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.8x P/Sales
ratio
1.2x
P/BV
ratio
2.8x Div.
yield
1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P Homebuilders ETF seeks to closely match the returns and characteristics of the S&P Homebuilders Select Industry Index, before expenses.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.ssgafunds.com
Inception date Feb 06, 2006
Assets (mns) $786
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 36
Wgt avg mkt cap (mns) $25,522
Large cap (>$10bn) 53.9%
Mid cap ($2-10bn) 42.5%
Small cap (<$2bn) 3.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MOHAWK INDUSTRIES INC 4.8 %
LENNAR CORP-CL A 4.7 %
PULTE HOMES INC 4.7 %
LENNOX INTERNATIONAL INC 4.6 %
DR HORTON INC 4.6 %
WILLIAMS-SONOMA INC 4.6 %
MASCO CORP 4.5 %
ALLEGION PLC 4.4 %
LOWE'S COS INC 4.4 %
OWENS CORNING 4.3 %
Total 45.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.5 %
IRELAND 8.5 %
BERMUDA 1.7 %








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.
41.0% 35.5% 8.8% 13.7% 1.2%

Market Correlations
versus... Beta R-squared
S&P500 1.15 69%
MSCI EAFE 1.04 47%
MSCI Emg. Mkts. 0.71 36%

Technical Indicators
Recent close $45.68
30d moving avg. $45.11
Annualized volatility 16.8%
Short interest (ETF) 34.1%
Short interest (Underlying) 5.7%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 2,005
Turnover 11.7%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $3,371

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XHB Expense: 35 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XHB
Ticker Fund
Name
Overlap1
vs XHB
(%)
Expense
ratio
(bp)
Savings
vs XHB
(bp)
ALTAR
Score™
(%)
ALTAR
vs XHB
(%)
ITB iShares US Home Construction 53.4 42 -7 8.4 +0.7
PKB Invesco Dynamic Building & Construction 33.9 60 -25 6.5 -1.2
HOMZ Hoya Capital Housing 28.5 45 -10 6.3 -1.4
RCD Invesco S&P Equal Weight Consumer Discretionary 15.0 40 -5 8.4 +0.7
FXD First Trust Consumer Discretionary 14.0 64 -29 8.0 +0.4
XLY Consumer Discretionary Select Sector SPDR 11.7 13 22 5.7 -2.0
VCR Vanguard Consumer Discretionary 11.5 10 25 5.5 -2.2
FDIS Fidelity MSCI Consumer Discrettionary 11.4 8 27 5.4 -2.3
JHMC John Hancock Multifactor Consumer Discretionary 11.0 40 -5 5.9 -1.8
PEZ Invesco DWA Consumer Discretionary Momentum 8.7 60 -25 4.9 -2.8
RTH VanEck Vectors Retail 8.7 35 0 5.7 -2.0
RXI iShares S&P Global Consumer Discretionary 8.7 46 -11 6.8 -0.9
PMR Invesco Dynamic Retail 8.5 63 -28 7.0 -0.7
PY Principal Shareholder Yield 8.2 29 6 7.9 +0.3
FTXD First Trust Nasdaq Retail 7.9 60 -25 6.4 -1.3
IEDI iShares Evolved U.S. Discretionary Spending 7.9 18 17 5.0 -2.7
IYC iShares DJ US Consumer Services 7.5 42 -7 5.0 -2.7
RGI Invesco S&P Equal Weight Industrials 7.4 40 -5 6.6 -1.1
RPV Invesco S&P 500 Pure Value ETF 6.9 35 0 9.7 +2.1
DVLU First Trust Dorsey Wright Momentum & Value 6.8 60 -25 8.4 +0.7

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%.

Content on this tab for subscribers only**

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 Homebuilders
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 19.5 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.