Materials Select Sector SPDR
ALTAR
Score™
9.1% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
20.5x P/Sales
ratio
1.9x
P/BV
ratio
1.8x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Select Sector SPDRŽ holding S&P 500 stocks in the Basic Materials sector. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index. For product information and a prospectus visit www.sectorspdr.com.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.sectorspdrs.com
Inception date Dec 22, 1998
Assets (mns) $4,098
Currency USD
Expense ratio 13 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $39,028
Large cap (>$10bn) 97.0%
Mid cap ($2-10bn) 3.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PRAXAIR INC 16.3 %
AIR PRODUCTS & CHEMICALS INC 7.4 %
ECOLAB INC 6.9 %
SHERWIN-WILLIAMS CO/THE 6.8 %
DOW CHEMICAL 6.4 %
DOW, INC. 5.5 %
NEWMONT MINING CORP 4.6 %
PPG INDUSTRIES INC 4.4 %
LYONDELLBASELL INDU-CL A 3.4 %
BALL CORP 3.2 %
Total 64.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 77.7 %
BRITAIN 22.1 %









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.
24.1% 24.1% 6.9% 8.8% 7.6%

Market Correlations
versus... Beta R-squared
S&P500 1.02 80%
MSCI EAFE 1.06 71%
MSCI Emg. Mkts. 0.74 60%

Technical Indicators
Recent close $60.87
30d moving avg. $60.37
Annualized volatility 13.8%
Short interest (ETF) 22.6%
Short interest (Underlying) 3.4%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 4,820
Turnover 7.2%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $3,751

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XLB Expense: 13 bp ALTAR Score™: 9.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLB
Ticker Fund
Name
Overlap1
vs XLB
(%)
Expense
ratio
(bp)
Savings
vs XLB
(bp)
ALTAR
Score™
(%)
ALTAR
vs XLB
(%)
VAW Vanguard Materials 77.8 10 3 8.4 -0.6
FMAT Fidelity MSCI Materials 77.1 8 5 8.4 -0.7
IYM iShares DJ US Basic Material 74.1 42 -29 8.4 -0.7
RTM Invesco S&P Equal Weight Materials 67.3 40 -27 8.2 -0.9
JHMA John Hancock Multifactor Materials 66.9 40 -27 7.4 -1.7
MXI iShares S&P Global Materials 35.7 46 -33 6.6 -2.5
PYZ Invesco Dynamic Basic Materials Sector 32.2 60 -47 5.1 -3.9
FXZ First Trust Materials Alphadex 31.0 64 -51 7.6 -1.5
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 24.2 60 -47 7.0 -2.0
FTAG First Trust Indxx Global Agriculture 18.1 70 -57 8.2 -0.8
EQRR ProShares Equities for Rising Rates 18.0 35 -22 7.5 -1.6
NANR SPDR S&P N. American Nat. Resources 14.8 35 -22 3.8 -5.3
DIET Defiance Next Gen Food & Agriculture 12.1 30 -17 5.4 -3.7
GNR SPDR S&P Global Nat. Resources 11.6 40 -27 6.1 -3.0
IGE iShares North American Natural Resources 11.0 46 -33 3.8 -5.3
CUT Invesco Timber 10.5 55 -42 7.0 -2.1
YLDE ClearBridge Dividend Strategy ESG 10.5 60 -47 4.4 -4.7
NOBL ProShares S&P500 Aristocrats 10.4 35 -22 5.6 -3.4
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income 10.4 75 -62 5.2 -3.9

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:
Materials Select Sector SPDR
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.4 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 9.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.55
 
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.