Energy Select Sector SPDR
ALTAR
Score™
4.5% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
19.2x P/Sales
ratio
1.0x
P/BV
ratio
1.4x Div.
yield
4.0%


  • 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) $10,376
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) $126,804
Large cap (>$10bn) 89.1%
Mid cap ($2-10bn) 11.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EXXON MOBIL CORP 22.0 %
CHEVRON CORP 21.2 %
PHILLIPS 66 5.1 %
CONOCOPHILLIPS 4.6 %
SCHLUMBERGER LTD 4.3 %
MARATHON PETROLEUM 4.1 %
EOG RESOURCES INC 4.1 %
VALERO ENERGY CORP 4.0 %
KINDER MORGAN INC 3.8 %
OCCIDENTAL PETROLEUM CORP 3.3 %
Total 76.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.5 %
BRITAIN 0.8 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.7% -10.6% -5.1% 2.9% 6.5%

Market Correlations
versus... Beta R-squared
S&P500 1.29 56%
MSCI EAFE 1.26 46%
MSCI Emg. Mkts. 0.70 23%

Technical Indicators
Recent close $59.35
30d moving avg. $58.90
Annualized volatility 20.8%
Short interest (ETF) 15.6%
Short interest (Underlying) 3.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 14,438
Turnover 8.3%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $5,834

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Energy Select Sector SPDR 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™: 4.5%


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 DJ US Energy Sector 90.0 42 -29 4.1 -0.4
FENY Fidelity MSCI Energy 87.8 8 5 4.1 -0.4
VDE Vanguard Energy ETF 86.8 10 3 3.9 -0.5
JHME John Hancock Multifactor Energy 66.1 40 -27 3.4 -1.0
RYE Invesco S&P Equal Weight Energy ETF 59.5 40 -27 3.6 -0.9
IGE iShares North American Natural Resources 57.8 46 -33 4.1 -0.4
FTXN First Trust Nasdaq Oil & Gas 53.0 60 -47 2.7 -1.8
XLEY Cushing Energy & MLP 51.4 65 -52 3.7 -0.8
IXC iShares S&P Global Energy Sector 50.8 46 -33 5.2 +0.7
FXN First Trust Energy Alphadex 44.7 63 -50 4.6 +0.1
FILL iShares MSCI Global Energy Producers 40.9 39 -26 5.6 +1.2
NANR SPDR S&P N. American Nat. Resources 36.5 35 -22 4.2 -0.3
IEO iShares U.S. Oil & Gas Exploration & Production 34.0 42 -29 3.3 -1.2
PXI Invesco Dynamic Energy Sector 33.8 60 -47 -0.7 -5.1
XOP SPDR S&P Oil & Gas Exploration 32.0 35 -22 3.6 -0.8
XLSY Cushing Energy Supply Chain & MLP 31.9 65 -52 5.6 +1.1
FRAK VanEck Vectors Unconventional Oil & Gas 23.3 54 -41 1.7 -2.7
PXE Invesco Dynamic Energy Exploration & Production 23.2 63 -50 1.2 -3.2
HDV iShares High Dividend 21.5 8 5 6.6 +2.2
FDL First Trust Morningstar Dividend Leaders 21.0 45 -32 8.5 +4.1

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

  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:
Energy Select Sector SPDR
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 6.1 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 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.