SPDR Kensho Intelligent Structures
ALTAR
Score™
6.0% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
18.4x P/Sales
ratio
1.4x
P/BV
ratio
2.4x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
XKII tracks an index of US-listed companies that focuses on smart building infrastructure, smart power grids, intelligent transportation infrastructure, and intelligent water infrastructure.

FUND BASICS
Category Global Equities
Fund Sponsor SSGA
Website us.spdrs.com
Inception date Dec 26, 2017
Assets (mns) $9
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) $28,337
Large cap (>$10bn) 39.2%
Mid cap ($2-10bn) 39.0%
Small cap (<$2bn) 21.8%
Developed mkts 98.4%
Emerging mkts 1.6%

TOP TEN HOLDINGS
RESIDEO TECHNOLOGIES, INC. 4.2 %
LEAR CORP 4.1 %
ALARM.COM HOLDINGS INC 4.1 %
XYLEM INC 4.0 %
CUBIC CORP 3.9 %
ITRON INC 3.9 %
HONEYWELL INTERNATIONAL INC 3.8 %
PENTAIR PLC 3.8 %
QORVO INC 3.7 %
JOHNSON CONTROLS INTERNATIONAL PLC 3.5 %
Total 38.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 72.8 %
BRITAIN 8.3 %
SWITZERLAND 7.4 %
IRELAND 3.5 %
NETHERLANDS 2.0 %
CANADA 1.9 %
JAPAN 1.8 %
SOUTH KOREA 1.6 %
BRITISH VIRGIN ISLANDS 0.9 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
35.3% 35.3% -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 1.28 84%
MSCI EAFE 1.37 75%
MSCI Emg. Mkts. 0.96 60%

Technical Indicators
Recent close $33.27
30d moving avg. $32.73
Annualized volatility 20.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.4%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $3,651

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XKII Expense: 45 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XKII
Ticker Fund
Name
Overlap1
vs XKII
(%)
Expense
ratio
(bp)
Savings
vs XKII
(bp)
ALTAR
Score™
(%)
ALTAR
vs XKII
(%)
FIW First Trust ISE Water 22.4 55 -10 3.5 -2.5
PHO Invesco Water Resources 19.0 60 -15 3.8 -2.2
SNSR Global X Internet of Things Thematic 18.8 68 -23 5.0 -0.9
KOMP SPDR Kensho New Economies Composite 15.3 20 25 1.9 -4.0
XKST SPDR Kensho Smart Mobility 13.2 45 0 3.8 -2.2
CGW Invesco S&P Global Water 12.0 62 -17 3.9 -2.0
DRIV Global X Autonomous & Electric Vehicles 11.8 68 -23 6.9 +1.0
TBLU Tortoise Water Fund 11.7 40 5 4.4 -1.6
PZD Invesco Cleantech 10.9 68 -23 4.4 -1.6
FTXL First Trust Nasdaq Semiconductor 10.7 60 -15 5.2 -0.7
XSD SPDR S&P Semiconductors 10.1 35 10 4.1 -1.9
QCLN First Trust NASDAQ Clean Edge Green Energy 9.6 60 -15 1.2 -4.7
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure 9.4 70 -25 4.7 -1.2
GEX VanEck Vectors Global Alternative Energy 9.3 63 -18 3.5 -2.5
AIRR First Trust RBA American Industrial Renaissance 9.0 70 -25 5.2 -0.8
RGI Invesco S&P Equal Weight Industrials 8.6 40 5 6.5 +0.5
XLI Industrials Select Sector SPDR 8.5 13 32 6.0 +0.0
FIDU Fidelity Industrials 8.4 8 37 5.8 -0.2
PIO Invesco Global Water 8.3 75 -30 3.9 -2.0
VIS Vanguard Industrials 8.3 10 35 6.1 +0.1

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%.

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 Kensho Intelligent Structures
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 13.7 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.54
 
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.