Energy Select Sector SPDR Fund
ALTAR
Score™		 3.7% info Recommen-
dation		 UNDERWEIGHT
2021E    2022E
P/E
ratio		 31.0x P/Sales
ratio		 1.1x
P/BV
ratio		 1.5x Div.
yield		 4.5%


  • 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 16, 1998
Assets (mns) $19,914
Currency USD
Expense ratio 12 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 25
Wgt avg mkt cap (mns) $94,111
Large cap (>$10bn) 92.9%
Mid cap ($2-10bn) 7.1%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EXXON MOBIL CORP 24.1 %
CHEVRON CORP 20.9 %
CONOCOPHILLIPS 5.6 %
EOG RESOURCES INC 4.4 %
SCHLUMBERGER LTD 4.4 %
PHILLIPS 66 4.3 %
MARATHON PETROLEUM 4.1 %
VALERO ENERGY CORP 3.5 %
KINDER MORGAN INC 3.5 %
WILLIAMS COS INC 3.3 %
Total 78.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.1 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
27.1% 13.4% 1.1% -1.7% 5.7%

Market Correlations
versus... Beta R-squared
S&P500 1.84 68%
MSCI EAFE 1.91 72%
MSCI Emg. Mkts. 1.54 58%

Technical Indicators
Recent close $48.15
30d moving avg. $43.74
Annualized volatility 41.2%
Short interest (ETF) 7.7%
Short interest (Underlying) 2.1%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 32,384
Turnover 7.8%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $7,030

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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: 12 bp ALTAR Score™: 3.7%


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
(%)
VDE Vanguard Energy Index Fund 94.6 10 2 3.4 -0.3
IYE iShares U.S. Energy ETF 91.1 42 -30 3.4 -0.3
FENY Fidelity MSCI Energy Index ETF 86.0 8 4 3.4 -0.2
JHME John Hancock Multifactor Energy ETF 64.9 40 -28 3.2 -0.5
RYE Invesco S&P 500 Equal Weight Energy ETF 61.0 40 -28 3.0 -0.6
IXC iShares Global Energy ETF 52.0 46 -34 5.0 +1.4
IGE iShares North American Natural Resources ETF 51.1 46 -34 3.8 +0.1
FXN First Trust Energy AlphaDEX Fund 49.1 65 -53 2.6 -1.1
FTXN First Trust Nasdaq Oil & Gas ETF 43.0 60 -48 3.0 -0.6
FILL iShares MSCI Global Energy Producers ETF 40.6 39 -27 5.3 +1.6
XOP SPDR S&P Oil & Gas Exploration & Production ETF 40.5 35 -23 3.0 -0.6
NANR SPDR S&P North American Natural Resources ETF 35.3 35 -23 3.7 +0.1
IEO iShares U.S. Oil & Gas Exploration & Production ETF 33.1 42 -30 3.2 -0.5
PXE Invesco Dynamic Energy Exploration & Production ETF 31.0 63 -51 3.2 -0.4
EQRR ProShares Equities for Rising Rates ETF 25.2 35 -23 5.6 +1.9
PXI Invesco DWA Energy Momentum ETF 23.4 60 -48 -0.6 -4.3
FRAK VanEck Vectors Unconventional Oil & Gas ETF 23.1 54 -42 2.1 -1.6
HDV iShares Core High Dividend ETF 22.8 8 4 6.4 +2.7
FCG First Trust Natural Gas ETF 21.2 60 -48 2.7 -1.0
SPHB Invesco S&P 500 High Beta ETF 18.6 25 -13 4.9 +1.3
ALTL Pacer Lunt Large Cap Alternator ETF 18.4 60 -48 4.6 +0.9
FCTR First Trust Lunt U.S. Factor Rotation ETF 17.2 65 -53 4.3 +0.6
GNR SPDR S&P Global Natural Resources ETF 14.2 40 -28 5.6 +2.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 13.9 46 -34 5.4 +1.7
MAGA Point Bridge GOP Stock Tracker ETF 13.7 72 -60 5.2 +1.6
SPYD SPDR S&P 500 High Dividend ETF 13.5 7 5 8.5 +4.8
CRAK VanEck Vectors Oil Refiners ETF 12.6 60 -48 7.2 +3.6
GBDV Global Beta Smart Income ETF 12.2 29 -17 7.8 +4.1
HAP VanEck Vectors Natural Resources ETF 12.0 50 -38 5.0 +1.3
RDIV Invesco S&P Ultra Dividend Revenue ETF 11.7 39 -27 7.9 +4.2
VRAI Virtus Real Asset Income ETF 10.9 55 -43 7.0 +3.3
JKI iShares Morningstar Mid-Cap Value ETF 10.6 30 -18 6.9 +3.3
SDOG ALPS Sector Dividend Dogs ETF 10.5 40 -28 8.1 +4.5
PEY Invesco High Yield Equity Dividend Achievers ETF 9.7 52 -40 7.8 +4.2
SPVU Invesco S&P 500 Enhanced Value ETF 9.4 13 -1 8.9 +5.3
TPYP Tortoise North American Pipeline Fund 9.2 40 -28 5.8 +2.1
EINC VanEck Vectors Energy Income ETF 9.2 45 -33 5.2 +1.5
MLPX Global X MLP & Energy Infrastructure ETF 9.2 45 -33 4.8 +1.2
ENFR Alerian Energy Infrastructure ETF 9.2 65 -53 4.6 +1.0
USAI Pacer American Energy Independence ETF 9.2 75 -63 4.5 +0.8
DVY iShares Select Dividend ETF 9.1 39 -27 7.6 +3.9
XES SPDR S&P Oil & Gas Equipment & Services ETF 9.1 35 -23 -2.2 -5.8
IEZ iShares U.S. Oil Equipment & Services ETF 9.1 42 -30 0.2 -3.5
PXJ Invesco Dynamic Oil & Gas Services ETF 9.1 63 -51 -0.7 -4.4
OIH VanEck Vectors Oil Services ETF 9.1 35 -23 -0.8 -4.5
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 9.0 49 -37 4.4 +0.7
GRES IQ Global Resources ETF 8.8 78 -66 5.9 +2.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 8.8 30 -18 7.7 +4.0
ONEY SPDR Russell 1000 Yield Focus ETF 8.7 20 -8 6.3 +2.6
DJD Invesco Dow Jones Industrial Average Dividend ETF 8.6 7 5 6.5 +2.9
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 8.4 75 -63 6.0 +2.3
ESGS Columbia Sustainable U.S. Equity Income ETF 8.4 35 -23 7.5 +3.9
GLIF AGFiQ Global Infrastructure ETF 8.4 45 -33 4.8 +1.2
VLU SPDR S&P 1500 Value Tilt ETF 8.2 12 0 5.9 +2.3
RPV Invesco S&P 500 Pure Value ETF 8.1 35 -23 9.1 +5.4
SPDV AAM S&P 500 High Dividend Value ETF 7.8 29 -17 7.8 +4.2
EMLP First Trust North American Energy Infrastructure Fund 7.7 96 -84 5.3 +1.6
FOVL iShares Focused Value Factor ETF 7.7 25 -13 7.4 +3.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 7.7 25 -13 5.6 +2.0
IUS Invesco Strategic US ETF 7.6 19 -7 5.2 +1.6
FDVV Fidelity Core Dividend ETF 7.6 29 -17 6.1 +2.4
SCHD Schwab U.S. Dividend Equity ETF 7.5 6 6 7.0 +3.4
SYLD Cambria Shareholder Yield ETF 7.1 59 -47 6.7 +3.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 7.0 25 -13 5.5 +1.9
RVRS Reverse Cap Weighted U.S. Large Cap ETF 6.9 29 -17 5.5 +1.9
VYM Vanguard High Dividend Yield Index ETF 6.9 6 6 6.8 +3.2
VOOV Vanguard S&P 500 Value ETF 6.7 10 2 6.2 +2.6
TPHD Timothy Plan High Dividend Stock ETF 6.6 52 -40 5.7 +2.0
RWL Invesco S&P 500 Revenue ETF 6.6 39 -27 6.1 +2.4
GII SPDR S&P Global Infrastructure ETF 6.6 40 -28 4.6 +1.0
IGF iShares Global Infrastructure ETF 6.5 46 -34 4.6 +0.9
DIV Global X SuperDividend US ETF 6.5 46 -34 5.9 +2.3
EQAL Invesco Russell 1000 Equal Weight ETF 6.4 20 -8 5.0 +1.4
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.3 47 -35 5.2 +1.6
PRF Invesco FTSE RAFI US 1000 ETF 6.2 39 -27 5.7 +2.0
JDIV JPMorgan U.S. Dividend ETF 5.8 12 0 6.5 +2.8
DIVB iShares U.S. Dividend & Buyback ETF 5.7 25 -13 6.0 +2.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 5.7 19 -7 5.2 +1.5
SDY SPDR S&P Dividend ETF 5.7 35 -23 6.2 +2.6
AMZA InfraCap MLP ETF 5.6 241 -229 5.2 +1.6
FTA First Trust Large Cap Value AlphaDEX Fund 5.6 60 -48 7.2 +3.5
FTRI First Trust Indxx Global Natural Resources Income ETF 5.6 70 -58 8.4 +4.8
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 5.6 35 -23 7.5 +3.9
SPYV SPDR Portfolio S&P 500 Value ETF 5.6 4 8 6.3 +2.6
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 5.6 35 -23 7.6 +3.9
IVE iShares S&P 500 Value ETF 5.5 18 -6 6.1 +2.5
MGV Vanguard Mega Cap Value ETF 5.5 7 5 6.6 +2.9
VTV Vanguard Value Index Fund 5.5 4 8 6.6 +2.9
IWX iShares Russell Top 200 Value ETF 5.5 20 -8 6.1 +2.5
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 5.5 60 -48 6.9 +3.2
FUNL CornerCap Fundametrics Large-Cap ETF 5.3 50 -38 7.2 +3.5
JKF iShares Morningstar Large Cap Value ETF 5.3 25 -13 6.9 +3.2
JMIN JPMorgan U.S. Minimum Volatility ETF 5.3 12 0 5.5 +1.8
VONV Vanguard Russell 1000 Value Index Fund 5.2 8 4 6.1 +2.4
VOE Vanguard Mid-Cap Value Index Fund 5.2 7 5 6.3 +2.7
IUSV iShares Core S&P U.S. Value ETF 5.2 4 8 6.3 +2.7
EQWL Invesco Russell Top 200 Equal Weight ETF 5.2 25 -13 5.8 +2.2
FCPI Fidelity Stocks for Inflation ETF 5.1 29 -17 6.3 +2.7

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
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 5.6 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.47 CATEGORY
AVERAGE		 1.50
 
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.