Technology Select Sector SPDR Fund
ALTAR
Score™		 4.5% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 31.1x P/Sales
ratio		 6.8x
P/BV
ratio		 8.3x Div.
yield		 1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Select Sector SPDRŽ holding S&P 500 stocks in the Technology sector. Component industries include Semiconductors & Semi Equipment; Software & Services; Tech Hardware & Equipment; and Telecommunication Services. 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) $36,517
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 74
Wgt avg mkt cap (mns) $889,127
Large cap (>$10bn) 99.5%
Mid cap ($2-10bn) 0.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 22.7 %
MICROSOFT CORP 19.8 %
VISA INC-CLASS A SHARES 4.3 %
NVIDIA CORP 4.0 %
MASTERCARD INC-CLASS A 3.6 %
PAYPAL HOLDINGS INC 3.0 %
ADOBE SYSTEMS INC 2.8 %
SALESFORCE.COM INC 2.7 %
INTEL CORP 2.4 %
CISCO SYSTEMS INC 2.2 %
Total 67.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
IRELAND 2.1 %
SWITZERLAND 0.5 %








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.
22.1% 34.2% 22.3% 18.3% 7.0%

Market Correlations
versus... Beta R-squared
S&P500 1.06 86%
MSCI EAFE 1.04 68%
MSCI Emg. Mkts. 0.69 47%

Technical Indicators
Recent close $122.66
30d moving avg. $118.74
Annualized volatility 20.5%
Short interest (ETF) 4.8%
Short interest (Underlying) 1.9%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 9,170
Turnover 3.1%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $51,904

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Technology Select Sector SPDR Fund ETF based on the alternatives' overlap in portfolio holdings with XLK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XLK Expense: 13 bp ALTAR Score™: 4.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLK
Ticker Fund
Name		 Overlap1
vs XLK
(%)		 Expense
ratio
(bp)		 Savings
vs XLK
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs XLK
(%)
FTEC Fidelity MSCI Information Technology Index ETF 84.6 8 5 4.2 -0.3
VGT Vanguard Information Technology Index Fund 83.1 10 3 4.2 -0.3
IXN iShares Global Tech ETF 78.6 46 -33 4.1 -0.4
IYW iShares U.S. Technology ETF 72.4 43 -30 3.6 -0.8
IETC iShares Evolved U.S. Technology ETF 59.5 18 -5 3.6 -0.9
IGM iShares Expanded Tech Sector ETF 57.5 46 -33 3.5 -0.9
JHMT John Hancock Multifactor Technology ETF 47.3 40 -27 4.3 -0.2
MGK Vanguard Mega Cap Growth ETF 46.3 7 6 3.8 -0.7
QYLD Global X NASDAQ 100 Covered Call ETF 46.0 60 -47 3.3 -1.1
NUSI Nationwide Risk-Managed Income ETF 45.7 68 -55 3.5 -1.0
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 45.2 60 -47 3.3 -1.2
QQQM Invesco NASDAQ 100 ETF 44.5 15 -2 3.7 -0.8
QQQ Invesco QQQ Trust 44.5 20 -7 3.7 -0.8
IWY iShares Russell Top 200 Growth ETF 44.0 20 -7 3.7 -0.7
TECB iShares US Tech Breakthrough Multisector ETF 43.2 40 -27 3.8 -0.6
RYT Invesco S&P 500 Equal Weight Technology ETF 41.9 40 -27 6.0 +1.6
VOOG Vanguard S&P 500 Growth ETF 41.8 10 3 4.1 -0.4
VEGN US Vegan Climate ETF 41.7 60 -47 4.7 +0.2
GBGR Global Beta Momentum-Growth ETF 41.6 29 -16 5.1 +0.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 40.3 49 -36 3.9 -0.6
SPYG SPDR Portfolio S&P 500 Growth ETF 40.1 4 9 4.1 -0.3
IVW iShares S&P 500 Growth ETF 40.1 18 -5 4.0 -0.5
IWF iShares Russell 1000 Growth ETF 38.8 19 -6 3.6 -0.9
SCHG Schwab U.S. Large-Cap Growth ETF 38.7 4 9 3.3 -1.1
VUG Vanguard Growth Index Fund 38.0 4 9 3.7 -0.8
IUSG iShares Core S&P US Growth ETF 37.9 4 9 4.1 -0.3
TMFC Motley Fool 100 Index ETF 37.8 50 -37 3.2 -1.3
VONG Vanguard Russell 1000 Growth Index Fund 37.8 8 5 3.7 -0.8
XLG Invesco S&P 500 Top 50 ETF 37.5 20 -7 4.2 -0.2
HIPR Direxion High Growth ETF 37.4 40 -27 4.3 -0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 35.8 12 1 4.1 -0.3
SPHQ Invesco S&P 500 Quality ETF 35.5 15 -2 4.4 -0.1
SPMO Invesco S&P 500 Momentum ETF 35.2 13 0 3.9 -0.6
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 34.8 21 -8 2.8 -1.6
TDIV First Trust NASDAQ Technology Dividend Index Fund 34.6 50 -37 6.2 +1.8
IQSU IQ Candriam ESG US Equity ETF 34.5 9 4 4.7 +0.2
KOIN Innovation Shares NextGen Protocol ETF 34.4 95 -82 4.1 -0.4
HLAL Wahed FTSE USA Shariah ETF 34.3 50 -37 4.1 -0.4
STLG iShares Factors US Growth Style ETF 34.2 25 -12 4.1 -0.4
SYG SPDR MFS Systematic Growth Equity ETF 33.3 60 -47 4.0 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 33.2 60 -47 3.8 -0.7
XNTK SPDR NYSE Technology ETF 32.6 35 -22 3.2 -1.3
TDV ProShares S&P Technology Dividend Aristocrats ETF 32.2 46 -33 4.4 -0.1
USXF iShares ESG Advanced MSCI USA ETF 32.1 10 3 4.6 +0.1
ESGV Vanguard ESG U.S. Stock ETF 31.8 12 1 4.7 +0.2
OEF iShares S&P 100 ETF 31.4 20 -7 4.5 +0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 31.3 27 -14 4.6 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 31.2 27 -14 4.6 +0.1
PWB Invesco Dynamic Large Cap Growth ETF 30.6 56 -43 3.2 -1.3
JKE iShares Morningstar Large-Cap Growth ETF 30.2 25 -12 2.8 -1.7
DSI iShares MSCI KLD 400 Social ETF 30.2 25 -12 4.7 +0.3
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 29.9 57 -44 4.5 +0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 29.1 0 13 4.7 +0.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 28.9 75 -62 3.9 -0.6
IWL iShares Russell Top 200 ETF 28.9 15 -2 4.6 +0.1
EFIV SPDR S&P 500 ESG ETF 28.8 10 3 4.7 +0.3
SNPE Xtrackers S&P 500 ESG ETF 28.8 10 3 4.7 +0.2
SPQQ Siren Large Cap Blend Index ETF 28.5 20 -7 4.4 -0.1
MGC Vanguard Mega Cap Index Fund 28.3 7 6 4.8 +0.3
PBP Invesco S&P 500 BuyWrite ETF 28.1 49 -36 4.6 +0.2
HSPX Global X S&P 500 Covered Call ETF 28.0 60 -47 4.6 +0.1
SPXE ProShares S&P 500 Ex-Energy ETF 27.8 27 -14 4.9 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 27.7 20 -7 4.9 +0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 27.7 15 -2 5.8 +1.4
XYLG Global X S&P 500 Covered Call & Growth ETF 27.5 60 -47 4.6 +0.1
LRGE ClearBridge Large Cap Growth ESG ETF 27.5 59 -46 3.5 -1.0
CATH Global X S&P 500 Catholic Values Custom ETF 27.3 29 -16 4.7 +0.2
SPY SPDR S&P 500 ETF Trust 27.2 9 4 4.9 +0.5
SPLG SPDR Portfolio Large Cap ETF 27.2 3 10 5.0 +0.5
IVV iShares Core S&P 500 ETF 27.2 3 10 5.0 +0.5
SUSA iShares MSCI USA ESG Select ETF 26.8 25 -12 4.4 -0.0
VOO VANGUARD S&P 500 ETF 26.8 3 10 5.0 +0.5
JQUA JPMorgan U.S. Quality Factor ETF 26.6 12 1 5.1 +0.6
MTUM iShares MSCI USA Momentum Factor ETF 26.4 15 -2 4.0 -0.5
QUAL iShares MSCI Usa Quality Factor ETF 26.3 15 -2 5.0 +0.6
RECS Columbia Research Enhanced Core ETF 26.3 15 -2 5.2 +0.8
QDF FlexShares Quality Dividend Index Fund 26.2 37 -24 5.7 +1.2
AIQ Global X Future Analytics Tech ETF 26.1 68 -55 3.7 -0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 26.1 10 3 4.9 +0.4
SUSL iShares ESG MSCI USA Leaders ETF 26.1 10 3 4.9 +0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.0 20 -7 4.6 +0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 26.0 9 4 5.2 +0.7
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 25.9 7 6 4.8 +0.3
IOO iShares Global 100 ETF 25.8 40 -27 4.4 -0.1
ESGU iShares MSCI USA ESG Optimized ETF 25.7 15 -2 4.6 +0.2
FDRR Fidelity Dividend ETF for Rising Rates 25.7 29 -16 6.3 +1.8
JKD iShares Morningstar Large-Cap ETF 25.5 20 -7 5.3 +0.9
FQAL Fidelity Quality Factor ETF 25.4 29 -16 5.1 +0.6
QUS SPDR MSCI USA StrategicFactors ETF 25.4 15 -2 5.4 +1.0
QDYN FlexShares Quality Dividend Dynamic Index Fund 25.4 37 -24 5.6 +1.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 25.4 19 -6 5.5 +1.0
PBUS Invesco PureBeta MSCI USA ETF 25.4 4 9 4.8 +0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 25.3 2 11 4.8 +0.4
QLC FlexShares US Quality Large Cap Index Fund 25.2 32 -19 4.8 +0.3
ADME Aptus Drawdown Managed Equity ETF 25.2 79 -66 3.4 -1.1
JMOM JPMorgan U.S. Momentum Factor ETF 25.1 12 1 3.2 -1.3
NACP Impact Shares NAACP Minority Empowerment ETF 25.1 75 -62 4.5 +0.0
SYE SPDR MFS Systematic Core Equity ETF 25.1 60 -47 5.3 +0.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 24.9 12 1 4.5 +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

  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

Content on this tab for subscribers only

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

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 31.6 %
Divided by: Fwd. P/BV 6.9 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		 1.38 CATEGORY
AVERAGE		 1.49
 
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.