SPDR S&P Metals & Mining ETF
ALTAR
Score™
3.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.3x P/Sales
ratio
0.5x
P/BV
ratio
1.0x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR Metals & Mining ETF objective is to replicate as closely as possible the performance of the S&P Metals & Mining Select Industry Index, an equal-weighted index.

FUND BASICS
Category Global Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Jun 22, 2006
Assets (mns) $382
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 28
Wgt avg mkt cap (mns) $5,821
Large cap (>$10bn) 15.3%
Mid cap ($2-10bn) 42.8%
Small cap (<$2bn) 41.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEWMONT MINING CORP 6.1 %
HECLA MINING CO 5.5 %
COMPASS MINERALS INTERNATION 5.1 %
ROYAL GOLD INC 4.8 %
COMMERCIAL METALS CO 4.8 %
FREEPORT-MCMORAN COPPER 4.7 %
RELIANCE STEEL & ALUMINUM 4.7 %
ALLEGHENY TECHNOLOGIES INC 4.7 %
WARRIOR MET COAL, INC. 4.6 %
NUCOR CORP 4.4 %
Total 49.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.5 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.0% -16.9% 0.1% -4.6% -3.6%

Market Correlations
versus... Beta R-squared
S&P500 1.42 45%
MSCI EAFE 1.57 45%
MSCI Emg. Mkts. 1.21 46%

Technical Indicators
Recent close $22.56
30d moving avg. $25.99
Annualized volatility 25.9%
Short interest (ETF) 35.8%
Short interest (Underlying) 11.8%
Relative strength (RSI) 30

Liquidity measures
Avg. volume (thou.) 2,982
Turnover 17.6%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $1,356

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SPDR S&P Metals & Mining ETF ETF based on the alternatives' overlap in portfolio holdings with XME. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XME Expense: 35 bp ALTAR Score™: 3.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XME
Ticker Fund
Name
Overlap1
vs XME
(%)
Expense
ratio
(bp)
Savings
vs XME
(bp)
ALTAR
Score™
(%)
ALTAR
vs XME
(%)
SLX VanEck Vectors Steel ETF 37.4 56 -21 17.5 +14.4
PYZ Invesco DWA Basic Materials Momentum ETF 24.6 60 -25 5.7 +2.6
PSCM Invesco S&P SmallCap Materials ETF 16.9 29 6 10.6 +7.4
IYM iShares U.S. Basic Materials ETF 16.8 42 -7 6.2 +3.0
FXZ First Trust Materials AlphaDEX Fund 16.6 65 -30 8.4 +5.2
JHMA John Hancock Multifactor Materials ETF 14.6 40 -5 7.4 +4.2
VAW Vanguard Materials Index Fund 13.6 10 25 6.9 +3.8
FMAT Fidelity MSCI Materials Index ETF 13.3 8 27 6.9 +3.7
SGDM Sprott Gold Miners ETF 11.3 50 -15 3.9 +0.7
SILJ ETFMG Prime Junior Silver ETF 11.1 69 -34 0.8 -2.4
GDX VanEck Vectors Gold Miners ETF 10.8 52 -17 3.6 +0.5
RTM Invesco S&P 500 Equal Weight Materials ETF 10.7 40 -5 6.7 +3.5
SIL Global X Silver Miners ETF 10.2 65 -30 3.1 -0.0
PICK iShares MSCI Global Metals & Mining Producers ETF 10.1 39 -4 8.9 +5.7
XLB Materials Select Sector SPDR Fund 10.0 13 22 6.6 +3.4
NANR SPDR S&P North American Natural Resources ETF 9.9 35 0 4.8 +1.7
PAVE Global X U.S. Infrastructure Development ETF 9.5 47 -12 6.2 +3.0
BUYN USCF SummerHaven SHPEN Index Fund 9.2 80 -45 7.4 +4.3
KOL VanEck Vectors Coal ETF 8.9 60 -25 15.9 +12.8
SLVP iShares MSCI Global Silver Miners ETF 8.8 39 -4 1.6 -1.6

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:
SPDR S&P Metals & Mining ETF
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 3.5 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 CATEGORY
AVERAGE
1.56
 
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.