SPDR FactSet Innovative Technology ETF
ALTAR
Score™
0.2% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
197.8x P/Sales
ratio
5.3x
P/BV
ratio
8.0x Div.
yield
0.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR FactSet Innovative Technology ETF tracks an index composed of U.S.-listed technology and electronic media companies deemed innovative or disruptive by FactSet.

FUND BASICS
Category US Equities
Fund Sponsor SSgA
Website www.spdrs.com
Inception date Jan 13, 2016
Assets (mns) $280
Currency USD
Expense ratio 45 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 96
Wgt avg mkt cap (mns) $70,608
Large cap (>$10bn) 56.5%
Mid cap ($2-10bn) 32.3%
Small cap (<$2bn) 9.6%
Developed mkts 88.4%
Emerging mkts 11.6%

TOP TEN HOLDINGS
ZOOM VIDEO COMMUNICATIONS, INC. CL 5.6 %
DIGITAL TURBINE, INC. 3.3 %
SEA LTD. (SINGAPORE) SPONSORED ADR 2.8 %
ZSCALER, INC. 2.1 %
SOLAREDGE TECHNOLOGIES, INC. 2.1 %
TWILIO, INC. CLASS A 2.1 %
DOCUSIGN, INC. 2.0 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 1.9 %
SQUARE, INC. CLASS A 1.8 %
SHOPIFY, INC. CLASS A 1.8 %
Total 25.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 77.3 %
CHINA 11.1 %
SINGAPORE 2.8 %
ISRAEL 2.7 %
CANADA 1.8 %
BRITAIN 1.7 %
LUXEMBOURG 1.1 %
NETHERLANDS 0.8 %
FRANCE 0.7 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
49.3% 69.4% -- -- 31.7%

Market Correlations
versus... Beta R-squared
S&P500 1.18 69%
MSCI EAFE 1.13 52%
MSCI Emg. Mkts. 0.83 45%

Technical Indicators
Recent close $182.96
30d moving avg. $170.65
Annualized volatility 25.2%
Short interest (ETF) 0.9%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 25
Turnover 1.6%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $77,227

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR FactSet Innovative Technology ETF ETF based on the alternatives' overlap in portfolio holdings with XITK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XITK Expense: 45 bp ALTAR Score™: 0.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XITK
Ticker Fund
Name
Overlap1
vs XITK
(%)
Expense
ratio
(bp)
Savings
vs XITK
(bp)
ALTAR
Score™
(%)
ALTAR
vs XITK
(%)
OGIG O'Shares Global Internet Giants ETF 32.2 48 -3 0.5 +0.3
ARKW ARK Web x.0 ETF 29.5 76 -31 -0.8 -1.1
FXL First Trust Technology AlphaDEX Fund 26.9 61 -16 3.1 +2.9
IRBO iShares Robotics & Artificial Intelligence ETF 24.5 47 -2 2.5 +2.3
PTF Invesco DWA Technology Momentum ETF 24.4 60 -15 0.1 -0.2
THNQ ROBO Global Artificial Intelligence ETF 24.2 68 -23 1.6 +1.3
XSW SPDR S&P Software & Services ETF 23.9 35 10 4.3 +4.1
GIGE SoFi Gig Economy ETF 23.2 59 -14 -0.8 -1.0
PNQI Invesco NASDAQ Internet ETF 23.2 60 -15 0.9 +0.7
SLT Salt TruBeta High Exposure ETF 23.1 60 -15 3.2 +3.0
CLOU Global X Cloud Computing ETF 22.9 68 -23 0.5 +0.3
SKYY First Trust Cloud Computing ETF 22.7 60 -15 2.3 +2.1
JKH iShares Morningstar Mid-Cap Growth ETF 22.3 30 15 2.0 +1.7
FDN First Trust Dow Jones Internet Index Fund 22.1 52 -7 2.0 +1.8
IGV iShares Expanded Tech-Software ETF 21.4 46 -1 2.2 +1.9
WCLD WisdomTree Cloud Computing Fund 21.2 45 0 8.4 +8.2
BOSS Global X Founder-Run Companies ETF 21.2 45 0 3.2 +3.0
FTC First Trust Large Cap Growth AlphaDEX Fund 20.6 61 -16 2.6 +2.4
ARKF ARK Fintech Innovation ETF 20.4 75 -30 0.3 +0.1
ENTR Entrepreneur 30 Fund 19.7 49 -4 1.1 +0.9
WFH Direxion Work From Home ETF 18.7 45 0 5.2 +5.0
FPX First Trust US IPO Index Fund 18.7 58 -13 1.4 +1.2
CCON Direxion Connected Consumer ETF 18.5 45 0 1.1 +0.9
BUYZ Franklin Disruptive Commerce ETF 17.8 50 -5 -0.2 -0.4
ARKK ARK Innovation ETF 17.7 75 -30 -2.3 -2.6
WUGI Esoterica NextG Economy ETF 17.7 75 -30 1.5 +1.2
FCTR First Trust Lunt U.S. Factor Rotation ETF 17.3 65 -20 2.8 +2.6
AIEQ AI Powered Equity ETF 17.2 87 -42 2.7 +2.4
GBUY Goldman Sachs Motif New Age Consumer ETF 17.1 50 -5 1.7 +1.5
QMOM Alpha Architect U.S. Quantitative Momentum ETF 17.0 49 -4 1.1 +0.9
SFYF SoFi 50 ETF 16.5 29 16 2.0 +1.8
AIQ Global X Future Analytics Tech ETF 16.1 68 -23 4.0 +3.7
IHAK iShares Cybersecurity & Tech ETF 16.1 47 -2 3.9 +3.6
TECB iShares US Tech Breakthrough Multisector ETF 16.0 40 5 3.9 +3.6
QGRO American Century STOXX U.S. Quality Growth ETF 15.8 29 16 3.6 +3.4
IWP iShares Russell Mid-Cap Growth ETF 15.7 24 21 2.8 +2.6
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 15.6 99 -54 1.6 +1.3
GVIP Goldman Sachs Hedge Industry VIP ETF 15.6 45 0 3.7 +3.4
KOMP SPDR Kensho New Economies Composite ETF 15.5 20 25 2.2 +2.0
VOT Vanguard Mid-Cap Growth Index Fund 15.4 7 38 3.1 +2.9
JHMT John Hancock Multifactor Technology ETF 15.4 40 5 4.6 +4.4
GENY Principal Millennials Index ETF 14.9 45 0 3.7 +3.5
HACK ETFMG Prime Cyber Security ETF 14.6 60 -15 3.1 +2.8
MXDU Nationwide Maximum Diversification US Core Equity ETF 14.3 34 11 4.6 +4.3
MMLG First Trust Multi-Manager Large Growth ETF 14.3 85 -40 2.0 +1.8
VFMO Vanguard U.S. Momentum Factor ETF 14.1 13 32 0.7 +0.5
PLAT WisdomTree Modern Tech Platforms Fund 14.1 20 25 1.6 +1.3
CIBR First Trust NASDAQ CEA Cybersecurity ETF 14.0 60 -15 3.2 +2.9
IGM iShares Expanded Tech Sector ETF 13.9 46 -1 3.7 +3.4
SOCL Global X Social Media ETF 13.5 65 -20 1.8 +1.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 13.5 66 -21 2.2 +2.0
GDAT Goldman Sachs Motif Data-Driven World Etf 13.4 50 -5 4.6 +4.4
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 13.4 49 -4 4.9 +4.7
XWEB SPDR S&P Internet ETF 13.4 35 10 -0.1 -0.3
LRNZ TrueMark Technology, AI & Deep Learning ETF 13.2 68 -23 0.3 +0.0
IYW iShares U.S. Technology ETF 13.1 43 2 3.8 +3.5
BUG Global X Cybersecurity ETF 13.1 50 -5 1.2 +1.0
DTEC ALPS Disruptive Technologies ETF 13.0 50 -5 3.0 +2.8
IFLY ETFMG Drone Economy Strategy ETF 12.7 68 -23 2.6 +2.4
IPO Renaissance IPO ETF 12.7 60 -15 0.6 +0.3
IETC iShares Evolved U.S. Technology ETF 12.3 18 27 3.7 +3.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 12.1 59 -14 4.2 +4.0
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 12.1 75 -30 2.4 +2.1
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 12.1 35 10 4.4 +4.2
NUMG Nuveen ESG Mid-Cap Growth ETF 11.9 40 5 2.1 +1.8
FDMO Fidelity Momentum Factor ETF 11.9 29 16 3.2 +2.9
VXF Vanguard Extended Market Index Fund 11.6 6 39 3.4 +3.2
PSJ Invesco Dynamic Software ETF 11.5 56 -11 11.8 +11.6
JMOM JPMorgan U.S. Momentum Factor ETF 11.4 12 33 3.3 +3.0
PXQ Invesco Dynamic Networking ETF 11.4 63 -18 3.1 +2.9
HERO Global X Video Games & Esports ETF 11.3 50 -5 3.0 +2.7
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 11.0 57 -12 5.0 +4.7
ALFA AlphaClone Alternative Alpha ETF 10.9 65 -20 -0.5 -0.7
JHCS John Hancock Multifactor Media & Communications ETF 10.7 40 5 5.7 +5.5
FITE SPDR Kensho Future Security ETF 10.6 45 0 3.8 +3.6
MTUM iShares Edge MSCI USA Momentum Factor ETF 10.4 15 30 4.0 +3.8
SCHG Schwab U.S. Large-Cap Growth ETF 10.4 4 41 3.4 +3.2
FMK First Trust Mega Cap AlphaDEX Fund 10.3 70 -25 4.4 +4.2
PBS Invesco Dynamic Media ETF 10.2 63 -18 6.2 +5.9
FCOM Fidelity MSCI Telecommunication Services Index ETF 10.2 8 37 5.0 +4.7
ECOZ TrueMark ESG Active Opportunities ETF 10.2 58 -13 3.5 +3.3
MILN Global X Millennials Thematic ETF 10.1 50 -5 2.2 +2.0
FTEC Fidelity MSCI Information Technology Index ETF 10.1 8 37 4.3 +4.1
TTTN UP Fintech China-U.S. Internet Titans ETF 10.1 59 -14 4.3 +4.1
BKMC BNY Mellon US Mid Cap Core Equity ETF 10.1 4 41 5.2 +4.9
FDNI First Trust Dow Jones International Internet ETF 10.1 65 -20 2.0 +1.8
IWF iShares Russell 1000 Growth ETF 10.0 19 26 3.6 +3.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 10.0 86 -41 2.1 +1.9
JKK iShares Morningstar Small-Cap Growth ETF 10.0 30 15 1.0 +0.8
VGT Vanguard Information Technology Index Fund 10.0 10 35 4.3 +4.1
VONG Vanguard Russell 1000 Growth Index Fund 9.9 8 37 3.7 +3.5
KWEB KraneShares CSI China Internet ETF 9.9 76 -31 2.0 +1.8
SYG SPDR MFS Systematic Growth Equity ETF 9.8 60 -15 3.9 +3.7
VOX Vanguard Telecommunication Services Index Fund 9.8 10 35 4.8 +4.6
FEX First Trust Large Cap Core AlphaDEX Fund 9.7 60 -15 5.7 +5.5
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 9.7 21 24 3.0 +2.8
RBUS Nationwide Risk-Based U.S. Equity ETF 9.7 30 15 4.5 +4.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 9.7 75 -30 3.7 +3.5
VUG Vanguard Growth Index Fund 9.6 4 41 3.8 +3.6
GAMR ETFMG Video Game Tech ETF 9.4 75 -30 2.4 +2.2

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

  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

Content on this tab for subscribers only

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 FactSet Innovative Technology ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 5.1 %
Divided by: Fwd. P/BV 7.5 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 0.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.