Utilities Select Sector SPDR
ALTAR
Score™
4.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
22.0x P/Sales
ratio
2.7x
P/BV
ratio
2.4x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Select Sector SPDRŽ holding S&P 500 stocks in the Utilities 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) $11,438
Currency USD
Expense ratio 13 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $45,498
Large cap (>$10bn) 96.0%
Mid cap ($2-10bn) 4.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEXTERA ENERGY GROUP 13.7 %
SOUTHERN CO 7.7 %
DUKE ENERGY CORP 7.5 %
DOMINION RESOURCES INC/VA 7.3 %
AMERICAN ELECTRIC POWER 5.4 %
EXELON CORP 4.9 %
SEMPRA ENERGY 4.4 %
XCEL ENERGY INC 3.8 %
WEC ENERGY GROUP INC 3.3 %
PUBLIC SERVICE ENTERPRISE GP 3.3 %
Total 61.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










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.
25.9% 25.9% 10.1% 11.6% 7.5%

Market Correlations
versus... Beta R-squared
S&P500 0.22 7%
MSCI EAFE 0.18 4%
MSCI Emg. Mkts. 0.10 2%

Technical Indicators
Recent close $68.36
30d moving avg. $64.68
Annualized volatility 10.0%
Short interest (ETF) 22.0%
Short interest (Underlying) 2.5%
Relative strength (RSI) 79

Liquidity measures
Avg. volume (thou.) 14,221
Turnover 8.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $3,835

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XLU Expense: 13 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLU
Ticker Fund
Name
Overlap1
vs XLU
(%)
Expense
ratio
(bp)
Savings
vs XLU
(bp)
ALTAR
Score™
(%)
ALTAR
vs XLU
(%)
IDU iShares DJ US Utilities 89.8 43 -30 4.5 -0.3
FUTY Fidelity MSCI Utilities 86.7 8 5 4.8 -0.0
VPU Vanguard Utilities ETF 86.0 10 3 4.7 -0.1
RYU Invesco S&P Equal Weight Utilities 73.9 40 -27 4.7 -0.1
JHMU John Hancock Multifactor Utilities 71.9 40 -27 4.8 -0.0
JXI iShares S&P Global Utilities 61.5 46 -33 4.9 +0.1
UTES Reaves Utilities 53.4 49 -36 4.0 -0.9
FXU First Trust Utilities Alphadex 44.4 63 -50 5.1 +0.3
PUI Invesco DWA Utilities Momentum 39.6 60 -47 3.8 -1.0
ECLN First Trust EIP Carbon Impact 39.5 95 -82 3.1 -1.7
GII SPDR FTSE/Macquarie Global Infrastructure 30.2 40 -27 4.6 -0.2
IGF iShares S&P Global Infrastructure 30.2 46 -33 4.5 -0.3
EMLP First Trust N. American Energy Infrastructure 29.3 95 -82 4.6 -0.2
SPLV Invesco S&P 500 Low Volatility 29.1 25 -12 5.0 +0.2
DVOL First Trust Dorsey Wright Momentum & Low Volatility 27.8 60 -47 4.2 -0.6
NLR VanEck Vectors Nuclear Energy 27.0 60 -47 9.3 +4.5
LVHD Legg Mason Low Volatility High Dividend ETF 25.9 27 -14 6.6 +1.8
DVY iShares Select Dividend 23.1 39 -26 7.7 +2.9
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 22.2 99 -86 3.4 -1.4

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:
Utilities 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 11.2 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 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.