SPDR FactSet Innovative Technology
ALTAR
Score™
2.4% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
72.7x P/Sales
ratio
3.2x
P/BV
ratio
4.8x Div.
yield
0.2%


  • 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) $61
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 94
Wgt avg mkt cap (mns) $47,377
Large cap (>$10bn) 39.3%
Mid cap ($2-10bn) 45.8%
Small cap (<$2bn) 14.9%
Developed mkts 95.5%
Emerging mkts 4.5%

TOP TEN HOLDINGS
ROKU, INC. CLASS A 3.9 %
SNAP, INC. CLASS A 2.1 %
SHOPIFY, INC. CLASS A 1.9 %
INPHI CORP 1.7 %
ADVANCED MICRO DEVICES 1.6 %
LAM RESEARCH CORP 1.6 %
OKTA, INC. CLASS A 1.6 %
TERADYNE INC 1.6 %
FAIR ISAAC CORP 1.6 %
APPFOLIO INC CLASS A 1.5 %
Total 19.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 82.5 %
CHINA 6.9 %
ISRAEL 3.4 %
BRITAIN 2.3 %
CANADA 2.0 %
NETHERLANDS 1.2 %
LUXEMBOURG 0.9 %
FRANCE 0.9 %



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.
37.1% 25.6% -- -- 25.9%

Market Correlations
versus... Beta R-squared
S&P500 1.22 58%
MSCI EAFE 1.00 33%
MSCI Emg. Mkts. 0.78 31%

Technical Indicators
Recent close $111.20
30d moving avg. $108.83
Annualized volatility 19.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.6%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $29,038

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR FactSet Innovative Technology 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™: 2.4%


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
(%)
IRBO iShares Robotics and Artificial Intelligence 22.5 47 -2 2.0 -0.4
XSW SPDR S&P Software & Services 21.8 35 10 4.1 +1.7
OGIG O'Shares Global Internet Giants 20.2 48 -3 1.5 -0.9
FXL First Trust Technology Alphadex 20.0 63 -18 5.6 +3.2
ARKW ARK Web x.O 19.1 75 -30 -0.8 -3.1
BOSS Global X Founder-Run Companies 19.0 45 0 3.7 +1.3
QTUM Defiance Quantum 18.9 40 5 6.5 +4.2
PLAT WisdomTree Modern Tech Platforms 18.9 45 0 2.8 +0.4
SKYY First Trust Cloud Computing 18.8 60 -15 2.4 +0.1
IHAK iShares Cybersecurity & Tech 18.1 47 -2 3.0 +0.7
GDAT Goldman Sachs Motif Data-Driven World 17.8 50 -5 6.0 +3.7
JHMT John Hancock Multifactor Technology 17.4 40 5 6.1 +3.8
GIGE SoFi Gig Economy 16.7 59 -14 0.4 -2.0
WCLD WisdomTree Cloud Computing 16.1 45 0 -0.3 -2.7
CIBR First Trust NASDAQ Cybersecurity 15.9 60 -15 3.5 +1.1
AIQ Global X Future Analytics Tech 15.9 68 -23 4.6 +2.2
HACK ETFMG Prime Cyber Security 15.6 60 -15 3.5 +1.1
FDN First Trust DJ Internet 15.4 52 -7 3.3 +1.0
PXQ Invesco Dynamic Networking 15.4 63 -18 4.2 +1.8
QMOM MomentumShares U.S. Quantitative Momentum 14.7 49 -4 2.6 +0.3

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 FactSet Innovative Technology
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 12.2 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 2.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.