SPDR Kensho Clean Power
ALTAR
Score™
-7.8% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
46.1x P/Sales
ratio
1.6x
P/BV
ratio
3.6x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR Kensho Clean Power ETF tracks a tier-weighted index of US equities associated with the clean power sector.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website us.spdrs.com
Inception date Oct 22, 2018
Assets (mns) $23
Currency USD
Expense ratio 45 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 44
Wgt avg mkt cap (mns) $20,821
Large cap (>$10bn) 32.7%
Mid cap ($2-10bn) 31.6%
Small cap (<$2bn) 33.6%
Developed mkts 89.1%
Emerging mkts 10.9%

TOP TEN HOLDINGS
FUELCELL ENERGY, INC. 8.0 %
TESLA MOTORS INC 4.9 %
ENPHASE ENERGY INC 3.7 %
SUNRUN INC. 3.5 %
BALLARD POWER SYSTEMS INC 3.5 %
PLUG POWER INC 3.0 %
TERRAFORM POWER, INC. CLASS A 2.9 %
SOLAREDGE TECHNOLOGIES, INC. 2.9 %
TPI COMPOSITES, INC. 2.8 %
DAQO NEW ENERGY CORP. SPONSORED AD 2.7 %
Total 37.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 74.8 %
CANADA 10.9 %
CHINA 5.4 %
BRITAIN 2.4 %
CHILE 2.3 %
SWITZERLAND 1.7 %
BRAZIL 1.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.2% 41.8% -- -- 42.2%

Market Correlations
versus... Beta R-squared
S&P500 1.07 57%
MSCI EAFE 1.31 54%
MSCI Emg. Mkts. 1.03 58%

Technical Indicators
Recent close $52.22
30d moving avg. $47.99
Annualized volatility 22.6%
Short interest (ETF) 4.1%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 15
Turnover 3.4%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $15,183

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the SPDR Kensho Clean Power ETF based on the alternatives' overlap in portfolio holdings with XKCP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XKCP Expense: 45 bp ALTAR Score™: -7.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XKCP
Ticker Fund
Name
Overlap1
vs XKCP
(%)
Expense
ratio
(bp)
Savings
vs XKCP
(bp)
ALTAR
Score™
(%)
ALTAR
vs XKCP
(%)
PBW Invesco WilderHill Clean Energy 40.7 70 -25 -0.7 +7.1
ICLN iShares S&P Global Clean Energy 31.6 46 -1 3.2 +11.1
ACES ALPS Clean Energy 30.8 65 -20 0.7 +8.6
TAN Invesco Global Solar Energy 30.3 70 -25 1.2 +9.1
QCLN First Trust NASDAQ Clean Edge Green Energy 29.2 60 -15 1.3 +9.1
PBD Invesco Gbl Clean Energy 18.5 75 -30 0.4 +8.2
KOMP SPDR Kensho New Economies Composite 17.0 20 25 1.9 +9.8
GEX VanEck Vectors Global Alternative Energy 15.8 63 -18 3.5 +11.3
XKST SPDR Kensho Smart Mobility 13.6 45 0 3.6 +11.4
JHMU John Hancock Multifactor Utilities 11.4 40 5 4.7 +12.5
RYU Invesco S&P Equal Weight Utilities 11.3 40 5 4.7 +12.5
VPU Vanguard Utilities ETF 10.8 10 35 4.7 +12.5
UTES Reaves Utilities 10.8 49 -4 4.1 +11.9
FUTY Fidelity MSCI Utilities 10.8 8 37 4.7 +12.5
IDU iShares DJ US Utilities 10.5 43 2 4.4 +12.2
XLU Utilities Select Sector SPDR 9.7 13 32 4.7 +12.5
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure 9.7 70 -25 4.4 +12.2
FAN First Trust Global Wind 9.4 60 -15 5.1 +12.9
WOMN Impact Shares YWCA Women's Empowerment 9.4 75 -30 4.8 +12.6

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

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 Kensho Clean Power
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 -26.2 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 45 bp
Equals: ALTAR Score -7.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 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.