SPDR FactSet Innovative Technology ETF
ALTAR
Score™
0.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
213.8x P/Sales
ratio
4.5x
P/BV
ratio
6.4x 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) $164
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 99
Wgt avg mkt cap (mns) $53,203
Large cap (>$10bn) 50.3%
Mid cap ($2-10bn) 37.4%
Small cap (<$2bn) 11.4%
Developed mkts 88.3%
Emerging mkts 11.7%

TOP TEN HOLDINGS
ZOOM VIDEO COMMUNICATIONS, INC. CL 3.1 %
SEA LTD. (SINGAPORE) SPONSORED ADR 2.4 %
SHOPIFY, INC. CLASS A 2.1 %
BILIBILI, INC. SPONSORED ADR CLASS 2.0 %
DOCUSIGN, INC. 2.0 %
ZSCALER, INC. 1.8 %
TWILIO, INC. CLASS A 1.8 %
WIX.COM LTD 1.7 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 1.6 %
COUPA SOFTWARE, INC. 1.6 %
Total 20.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 73.3 %
CHINA 13.5 %
ISRAEL 3.1 %
SINGAPORE 2.4 %
CANADA 2.1 %
BRITAIN 1.9 %
LUXEMBOURG 1.4 %
NETHERLANDS 0.9 %
FRANCE 0.7 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
28.6% 37.9% -- -- 29.3%

Market Correlations
versus... Beta R-squared
S&P500 1.19 67%
MSCI EAFE 1.11 51%
MSCI Emg. Mkts. 0.80 42%

Technical Indicators
Recent close $150.18
30d moving avg. $138.72
Annualized volatility 24.6%
Short interest (ETF) 2.8%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 28
Turnover 2.6%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $63,113

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™: 0.3%


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 31.9 48 -3 0.7 +0.4
ARKW ARK Web x.0 ETF 29.6 76 -31 -0.8 -1.2
THNQ ROBO Global Artificial Intelligence ETF 26.7 68 -23 1.9 +1.6
FXL First Trust Technology AlphaDEX Fund 25.9 61 -16 3.2 +2.8
IRBO iShares Robotics & Artificial Intelligence ETF 25.1 47 -2 2.7 +2.4
XSW SPDR S&P Software & Services ETF 24.9 35 10 4.0 +3.7
SKYY First Trust Cloud Computing ETF 24.0 60 -15 2.2 +1.8
PTF Invesco DWA Technology Momentum ETF 23.7 60 -15 1.2 +0.9
GIGE SoFi Gig Economy ETF 23.0 59 -14 -0.5 -0.9
PLAT WisdomTree Modern Tech Platforms Fund 22.5 45 0 1.2 +0.8
CLOU Global X Cloud Computing ETF 22.0 68 -23 0.6 +0.3
PNQI Invesco NASDAQ Internet ETF 21.0 62 -17 1.1 +0.8
BOSS Global X Founder-Run Companies ETF 20.2 45 0 3.7 +3.4
FDN First Trust Dow Jones Internet Index Fund 18.1 52 -7 2.2 +1.9
GBUY Goldman Sachs Motif New Age Consumer ETF 17.7 50 -5 1.9 +1.6
WCLD WisdomTree Cloud Computing Fund 17.7 45 0 2.0 +1.7
ARKF ARK Fintech Innovation ETF 17.4 75 -30 0.5 +0.2
WFH Direxion Work From Home ETF 16.8 45 0 5.3 +4.9
IHAK iShares Cybersecurity & Tech ETF 16.4 47 -2 3.7 +3.4
IGV iShares North American Tech-Software ETF 16.4 46 -1 2.4 +2.1
FTC First Trust Large Cap Growth AlphaDEX Fund 15.9 61 -16 2.9 +2.6
JKH iShares Morningstar Mid-Cap Growth ETF 15.8 30 15 2.3 +1.9
FPX First Trust US IPO Index Fund 15.8 58 -13 2.6 +2.3
AIQ Global X Future Analytics Tech ETF 15.4 68 -23 3.9 +3.6
GENY Principal Millennials Index ETF 15.4 45 0 3.8 +3.5
HACK ETFMG Prime Cyber Security ETF 14.9 60 -15 3.0 +2.6
KOMP SPDR Kensho New Economies Composite ETF 14.9 20 25 2.6 +2.2
IWP iShares Russell Mid-Cap Growth ETF 14.9 24 21 4.1 +3.8
TECB iShares US Tech Breakthrough Multisector ETF 14.8 40 5 4.0 +3.7
SOCL Global X Social Media ETF 14.6 65 -20 2.0 +1.6
IFLY ETFMG Drone Economy Strategy ETF 14.3 68 -23 2.0 +1.7
JHMT John Hancock Multifactor Technology ETF 13.8 40 5 5.0 +4.6
CIBR First Trust NASDAQ CEA Cybersecurity ETF 13.5 60 -15 3.2 +2.9
AIEQ AI Powered Equity ETF 13.1 87 -42 3.7 +3.4
GDAT Goldman Sachs Motif Data-Driven World Etf 13.1 50 -5 5.0 +4.7
BUYZ Franklin Disruptive Commerce ETF 13.1 50 -5 -0.2 -0.5
ENTR Entrepreneur 30 Fund 12.8 49 -4 2.6 +2.2
LRNZ TrueMark Technology, AI & Deep Learning ETF 12.7 68 -23 0.8 +0.5
BUG Global X Cybersecurity ETF 12.6 50 -5 1.2 +0.9
FAD First Trust Multi Cap Growth AlphaDEX Fund 12.4 66 -21 2.5 +2.2
ARKK ARK Innovation ETF 12.4 75 -30 -2.9 -3.3
DTEC ALPS Disruptive Technologies ETF 12.4 50 -5 3.6 +3.2
VOT Vanguard Mid-Cap Growth Index Fund 12.3 7 38 3.5 +3.2
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 12.2 59 -14 4.2 +3.9
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 12.2 35 10 4.4 +4.1
XWEB SPDR S&P Internet ETF 12.2 35 10 -0.2 -0.5
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 12.0 49 -4 5.2 +4.9
SFYF SoFi 50 ETF 11.9 29 16 5.4 +5.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 11.8 65 -20 3.4 +3.0
IGM iShares Expanded Tech Sector ETF 11.8 46 -1 3.8 +3.5
KWEB KraneShares CSI China Internet ETF 11.8 76 -31 1.8 +1.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 11.7 70 -25 2.1 +1.8
HERO Global X Video Games & Esports ETF 11.7 50 -5 2.7 +2.4
PDP Invesco DWA Momentum ETF 11.6 62 -17 2.8 +2.4
MXDU Nationwide Maximum Diversification US Core Equity ETF 11.5 34 11 4.9 +4.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 11.1 86 -41 2.2 +1.9
FDNI First Trust Dow Jones International Internet ETF 11.1 65 -20 2.2 +1.9
IETC iShares Evolved U.S. Technology ETF 11.0 18 27 3.8 +3.5
GVIP Goldman Sachs Hedge Industry VIP ETF 11.0 45 0 4.7 +4.4
FFTY Innovator IBD 50 ETF 10.9 80 -35 3.5 +3.2
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 10.7 57 -12 5.0 +4.6
PGJ Invesco Golden Dragon China ETF 10.6 70 -25 3.2 +2.9
GAMR ETFMG Video Game Tech ETF 10.5 75 -30 2.3 +2.0
JHCS John Hancock Multifactor Media & Communications ETF 10.4 40 5 5.6 +5.3
FITE SPDR Kensho Future Security ETF 10.3 45 0 4.0 +3.7
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 10.3 75 -30 3.8 +3.5
FNI First Trust Chindia ETF 10.3 60 -15 2.9 +2.5
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 10.3 75 -30 2.1 +1.7
IYW iShares U.S. Technology ETF 10.3 42 3 4.0 +3.7
JKK iShares Morningstar Small-Cap Growth ETF 10.3 30 15 1.1 +0.8
QGRO American Century STOXX U.S. Quality Growth ETF 10.1 29 16 3.2 +2.8
MILN Global X Millennials Thematic ETF 10.1 50 -5 2.5 +2.1
VBK Vanguard Small-Cap Growth Index Fund 10.0 7 38 2.4 +2.1
NUMG Nuveen ESG Mid-Cap Growth ETF 9.7 40 5 2.4 +2.0
IPO Renaissance IPO ETF 9.7 60 -15 23.9 +23.5
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 9.6 25 20 2.0 +1.6
FDMO Fidelity Momentum Factor ETF 9.3 29 16 3.9 +3.5
FCOM Fidelity MSCI Telecommunication Services Index ETF 9.3 8 37 5.0 +4.7
CHIC Global X Nasdaq China Technology ETF 9.2 66 -21 3.8 +3.5
IWF iShares Russell 1000 Growth ETF 9.2 19 26 4.2 +3.8
XNTK SPDR NYSE Technology ETF 9.2 35 10 3.7 +3.4
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 9.1 21 24 3.0 +2.6
VFMO Vanguard U.S. Momentum Factor ETF 9.1 13 32 1.2 +0.8
VOX Vanguard Telecommunication Services Index Fund 9.1 10 35 4.9 +4.6
VXF Vanguard Extended Market Index Fund 9.1 7 38 3.8 +3.5
MTUM iShares Edge MSCI USA Momentum Factor ETF 9.1 15 30 4.2 +3.9
PSJ Invesco Dynamic Software ETF 9.0 58 -13 3.9 +3.6
PXQ Invesco Dynamic Networking ETF 8.9 63 -18 4.1 +3.7
PBS Invesco Dynamic Media ETF 8.8 63 -18 5.3 +4.9
QTUM Defiance Quantum ETF 8.7 40 5 5.8 +5.4
ESPO VanEck Vectors Video Gaming & eSports ETF 8.7 55 -10 2.7 +2.4
QMOM Alpha Architect U.S. Quantitative Momentum ETF 8.6 49 -4 2.2 +1.9
FTEC Fidelity MSCI Information Technology Index ETF 8.4 8 37 4.6 +4.2
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.4 68 -23 4.2 +3.8
VONG Vanguard Russell 1000 Growth Index Fund 8.2 8 37 4.3 +3.9
VGT Vanguard Information Technology Index Fund 8.2 10 35 4.6 +4.2
QYLD Global X NASDAQ 100 Covered Call ETF 7.9 60 -15 3.5 +3.2
FDG American Century Focused Dynamic Growth ETF 7.8 45 0 1.8 +1.4
QQQ Invesco QQQ Trust 7.8 20 25 3.9 +3.5
NUSI Nationwide Risk-Managed Income ETF 7.8 68 -23 3.5 +3.1

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

  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

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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 4.9 %
Divided by: Fwd. P/BV 6.1 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 0.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.52
 
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.