Energy Select Sector SPDR Fund
ALTAR
Score™		 7.0% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 31.8x P/Sales
ratio		 0.6x
P/BV
ratio		 0.8x Div.
yield		 8.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Select Sector SPDRŽ holding S&P 500 stocks in the Energy 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) $6,244
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 28
Wgt avg mkt cap (mns) $83,838
Large cap (>$10bn) 85.6%
Mid cap ($2-10bn) 13.8%
Small cap (<$2bn) 0.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CHEVRON CORP 25.2 %
EXXON MOBIL CORP 25.0 %
KINDER MORGAN INC 5.3 %
CONOCOPHILLIPS 4.4 %
PHILLIPS 66 4.2 %
EOG RESOURCES INC 4.1 %
VALERO ENERGY CORP 3.6 %
WILLIAMS COS INC 3.3 %
SCHLUMBERGER LTD 3.1 %
MARATHON PETROLEUM 3.0 %
Total 81.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.1 %
BRITAIN 0.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-50.7% -52.6% -14.6% -3.9% 3.3%

Market Correlations
versus... Beta R-squared
S&P500 1.68 72%
MSCI EAFE 1.77 77%
MSCI Emg. Mkts. 1.32 63%

Technical Indicators
Recent close $27.62
30d moving avg. $36.50
Annualized volatility 30.2%
Short interest (ETF) 20.5%
Short interest (Underlying) 3.3%
Relative strength (RSI) 28

Liquidity measures
Avg. volume (thou.) 46,363
Turnover 20.5%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $9,715

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Energy Select Sector SPDR Fund ETF based on the alternatives' overlap in portfolio holdings with XLE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XLE Expense: 13 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLE
Ticker Fund
Name		 Overlap1
vs XLE
(%)		 Expense
ratio
(bp)		 Savings
vs XLE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs XLE
(%)
IYE iShares U.S. Energy ETF 91.2 42 -29 6.7 -0.3
VDE Vanguard Energy Index Fund 90.1 10 3 6.6 -0.4
FENY Fidelity MSCI Energy Index ETF 89.9 8 5 6.6 -0.4
JHME John Hancock Multifactor Energy ETF 63.0 40 -27 6.9 -0.1
RYE Invesco S&P 500 Equal Weight Energy ETF 58.0 40 -27 6.0 -1.0
IGE iShares North American Natural Resources ETF 48.9 46 -33 6.4 -0.6
FXN First Trust Energy AlphaDEX Fund 46.9 65 -52 9.3 +2.3
FTXN First Trust Nasdaq Oil & Gas ETF 46.6 60 -47 7.7 +0.7
IXC iShares Global Energy ETF 46.5 46 -33 7.8 +0.8
FILL iShares MSCI Global Energy Producers ETF 37.6 39 -26 8.7 +1.7
PXI Invesco DWA Energy Momentum ETF 36.0 60 -47 3.7 -3.3
XOP SPDR S&P Oil & Gas Exploration & Production ETF 35.1 35 -22 6.9 -0.1
NANR SPDR S&P North American Natural Resources ETF 30.0 35 -22 5.7 -1.3
IEO iShares U.S. Oil & Gas Exploration & Production ETF 29.8 42 -29 7.0 -0.0
HDV iShares Core High Dividend ETF 24.2 8 5 8.5 +1.5
FDL First Trust Morningstar Dividend Leaders Index Fund 21.7 45 -32 11.3 +4.3
FRAK VanEck Vectors Unconventional Oil & Gas ETF 20.2 54 -41 4.9 -2.1
PXE Invesco Dynamic Energy Exploration & Production ETF 18.2 63 -50 5.0 -2.0
EQRR ProShares Equities for Rising Rates ETF 14.4 35 -22 12.0 +5.0
RDIV Invesco S&P Ultra Dividend Revenue ETF 13.9 39 -26 15.3 +8.3
MAGA Point Bridge GOP Stock Tracker ETF 13.6 72 -59 9.6 +2.6
GUNR Flexshares Morningstar Global Upstream Natural Resources 13.0 46 -33 8.3 +1.4
HAP VanEck Vectors Natural Resources ETF 12.5 50 -37 8.7 +1.7
CRAK VanEck Vectors Oil Refiners ETF 11.6 60 -47 19.3 +12.3
GNR SPDR S&P Global Natural Resources ETF 10.5 40 -27 9.1 +2.1
YMLP VanEck Vectors High Income MLP ETF 10.4 45 -32 9.6 +2.6
ENFR Alerian Energy Infrastructure ETF 10.4 55 -42 9.0 +2.0
TPYP Tortoise North American Pipeline Fund 10.4 40 -27 8.8 +1.9
MLPX Global X MLP & Energy Infrastructure ETF 10.4 45 -32 8.5 +1.5
USAI Pacer American Energy Independence ETF 10.4 75 -62 7.0 +0.0
RPV Invesco S&P 500 Pure Value ETF 10.0 35 -22 17.7 +10.7
EMLP First Trust North American Energy Infrastructure Fund 9.7 95 -82 7.7 +0.7
SPYD SPDR S&P 500 High Dividend ETF 9.5 7 6 14.5 +7.5
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 9.3 30 -17 12.0 +5.1
DTN WisdomTree U.S. Dividend ex-Financials Fund 8.9 38 -25 10.4 +3.4
JKF iShares Morningstar Large Cap Value ETF 8.9 25 -12 9.8 +2.8
FCG First Trust Natural Gas ETF 8.8 60 -47 15.9 +8.9
SLT Salt TruBeta High Exposure ETF 8.7 29 -16 12.4 +5.4
FOVL iShares Focused Value Factor ETF 8.5 25 -12 14.3 +7.3
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 8.4 49 -36 11.4 +4.4
QDIV Global X S&P 500 Quality Dividend ETF 8.2 20 -7 11.0 +4.0
SPVU Invesco S&P 500 Enhanced Value ETF 8.0 13 0 16.1 +9.1
SDOG ALPS Sector Dividend Dogs ETF 8.0 40 -27 14.2 +7.2
DHS WisdomTree U.S. High Dividend Fund 7.9 38 -25 10.7 +3.8
SPHB Invesco S&P 500 High Beta ETF 7.8 25 -12 11.7 +4.7
DJD Invesco Dow Jones Industrial Average Dividend ETF 7.6 7 6 8.6 +1.6
FDVV Fidelity Core Dividend ETF 7.2 29 -16 9.9 +2.9
IEZ iShares U.S. Oil Equipment & Services ETF 7.2 42 -29 -4.0 -10.9
OIH VanEck Vectors Oil Services ETF 7.2 35 -22 -9.7 -16.7
XES SPDR S&P Oil & Gas Equipment & Services ETF 7.2 35 -22 -19.4 -26.4
ESGS Columbia Sustainable U.S. Equity Income ETF 7.2 35 -22 12.3 +5.3
HLAL Wahed FTSE USA Shariah ETF 7.1 50 -37 6.3 -0.7
DIV Global X SuperDividend US ETF 7.1 45 -32 15.3 +8.3
DVOP Source Dividend Opportunity ETF 7.1 50 -37 11.5 +4.5
DURA VanEck Vectors Morningstar Durable Dividend ETF 7.1 29 -16 8.7 +1.8
OUSA O'Shares FTSE US Quality Dividend ETF 7.1 48 -35 7.2 +0.2
LVHD Legg Mason Low Volatility High Dividend ETF 7.0 27 -14 8.9 +1.9
PXJ Invesco Dynamic Oil & Gas Services ETF 6.7 63 -50 -4.5 -11.5
USDY Pacific Global US Equity Income ETF 6.6 29 -16 10.8 +3.8
COWZ Pacer US Cash Cows 100 ETF 6.5 49 -36 13.8 +6.8
PEY Invesco High Yield Equity Dividend Achievers ETF 6.5 53 -40 10.1 +3.1
IWX iShares Russell Top 200 Value ETF 6.5 20 -7 9.0 +2.0
FMK First Trust Mega Cap AlphaDEX Fund 6.5 70 -57 7.2 +0.2
EQAL Invesco Russell 1000 Equal Weight ETF 6.4 20 -7 7.8 +0.8
FTA First Trust Large Cap Value AlphaDEX Fund 6.4 60 -47 12.3 +5.3
DEW WisdomTree Global High Dividend Fund 6.2 58 -45 11.7 +4.7
PRF Invesco FTSE RAFI US 1000 ETF 6.1 39 -26 9.4 +2.4
SYV SPDR MFS Systematic Value Equity ETF 6.1 60 -47 10.0 +3.0
SCHD Schwab U.S. Dividend Equity ETF 6.1 6 7 9.5 +2.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 6.0 19 -6 7.7 +0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 6.0 28 -15 8.3 +1.3
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 5.9 35 -22 11.6 +4.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 5.8 25 -12 8.5 +1.5
TPHD Timothy Plan High Dividend Stock ETF 5.8 52 -39 9.5 +2.6
ONEY SPDR Russell 1000 Yield Focus ETF 5.7 20 -7 12.2 +5.2
SFYF SoFi 50 ETF 5.7 29 -16 8.5 +1.5
REVS Columbia Research Enhanced Value ETF 5.6 19 -6 10.1 +3.1
SYLD Cambria Shareholder Yield ETF 5.5 59 -46 15.4 +8.4
FCPI Fidelity Stocks for Inflation ETF 5.5 29 -16 9.4 +2.4
VYM Vanguard High Dividend Yield Index ETF 5.4 6 7 9.2 +2.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 5.4 25 -12 8.6 +1.6
SPGP Invesco S&P 500 GARP ETF 5.4 35 -22 10.9 +3.9
VONV Vanguard Russell 1000 Value Index Fund 5.4 8 5 9.5 +2.5
DTD WisdomTree U.S.Total Dividend Fund 5.3 28 -15 8.7 +1.7
SPDV AAM S&P 500 High Dividend Value ETF 5.3 29 -16 14.8 +7.8
RWL Invesco S&P 500 Revenue ETF 5.3 39 -26 9.3 +2.4
IWD iShares Russell 1000 Value ETF 5.3 19 -6 9.4 +2.4
MGV Vanguard Mega Cap Value ETF 5.2 7 6 9.1 +2.1
VOOV Vanguard S&P 500 Value ETF 5.2 15 -2 9.4 +2.4
SPYV SPDR Portfolio S&P 500 Value ETF 5.2 4 9 9.4 +2.5
IVE iShares S&P 500 Value ETF 5.2 18 -5 9.3 +2.3
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 5.1 60 -47 9.7 +2.7
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.1 46 -33 6.9 -0.1
DIVB iShares U.S. Dividend & Buyback ETF 5.1 25 -12 8.9 +1.9
KNOW Direxion All Cap Insider Sentiment Shares 5.1 59 -46 7.4 +0.4
SCHV Schwab U.S. Large-Cap Value ETF 5.1 4 9 9.2 +2.2
GII SPDR S&P Global Infrastructure ETF 5.0 40 -27 6.9 -0.1
QDYN FlexShares Quality Dividend Dynamic Index Fund 5.0 37 -24 9.3 +2.3
GRES IQ Global Resources ETF 5.0 77 -64 9.4 +2.4
IGF iShares Global Infrastructure ETF 4.9 46 -33 6.9 -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%.

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

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 5.5 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.47 CATEGORY
AVERAGE		 1.51
 
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.