SPDR S&P Metals & Mining ETF
ALTAR
Score™
8.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
-74.2x P/Sales
ratio
0.5x
P/BV
ratio
1.0x Div.
yield
2.0%


  • 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) $395
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 27
Wgt avg mkt cap (mns) $7,967
Large cap (>$10bn) 19.7%
Mid cap ($2-10bn) 17.9%
Small cap (<$2bn) 62.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEWMONT MINING CORP 10.3 %
ROYAL GOLD INC 8.0 %
HECLA MINING CO 7.4 %
RELIANCE STEEL & ALUMINUM 5.2 %
COMPASS MINERALS INTERNATION 5.2 %
COEUR D'ALENE MINES CORP 5.1 %
COMMERCIAL METALS CO 4.9 %
STEEL DYNAMICS INC 4.8 %
NUCOR CORP 4.7 %
WARRIOR MET COAL, INC. 4.7 %
Total 60.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-28.5% -12.5% -3.4% -7.2% -4.7%

Market Correlations
versus... Beta R-squared
S&P500 1.59 67%
MSCI EAFE 1.76 70%
MSCI Emg. Mkts. 1.42 69%

Technical Indicators
Recent close $20.84
30d moving avg. $19.18
Annualized volatility 33.1%
Short interest (ETF) 11.6%
Short interest (Underlying) 11.8%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 2,950
Turnover 15.6%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $1,528

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 8.1%


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 31.2 56 -21 16.8 +8.7
PYZ Invesco DWA Basic Materials Momentum ETF 24.6 60 -25 6.3 -1.8
FXZ First Trust Materials AlphaDEX Fund 21.3 65 -30 7.8 -0.3
IYM iShares U.S. Basic Materials ETF 19.0 42 -7 5.7 -2.4
SGDM Sprott Gold Miners ETF 18.6 50 -15 2.4 -5.7
JHMA John Hancock Multifactor Materials ETF 15.5 40 -5 7.1 -1.0
VAW Vanguard Materials Index Fund 15.2 10 25 6.4 -1.7
SLVP iShares MSCI Global Silver Miners ETF 14.9 39 -4 1.8 -6.4
FMAT Fidelity MSCI Materials Index ETF 14.8 8 27 6.4 -1.7
GDX VanEck Vectors Gold Miners ETF 14.6 52 -17 3.0 -5.1
SILJ ETFMG Prime Junior Silver ETF 13.7 69 -34 -0.1 -8.2
PSCM Invesco S&P SmallCap Materials ETF 13.4 29 6 9.9 +1.8
XLB Materials Select Sector SPDR Fund 12.5 13 22 6.1 -2.0
NANR SPDR S&P North American Natural Resources ETF 11.7 35 0 3.5 -4.6
RING iShares MSCI Global Gold Miners ETF 11.3 39 -4 3.7 -4.4
RTM Invesco S&P 500 Equal Weight Materials ETF 10.9 40 -5 6.6 -1.5
SIL Global X Silver Miners ETF 9.4 65 -30 1.9 -6.2
PICK iShares MSCI Global Metals & Mining Producers ETF 9.2 39 -4 8.1 +0.0
PAVE Global X U.S. Infrastructure Development ETF 9.1 47 -12 6.1 -2.0
IFRA iShares U.S. Infrastructure ETF 8.6 40 -5 5.9 -2.2
BUYN USCF SummerHaven SHPEN Index Fund 8.6 80 -45 13.8 +5.7
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 8.0 60 -25 2.8 -5.3
KOL VanEck Vectors Coal ETF 6.6 60 -25 20.3 +12.2
GOEX Global X Gold Explorers ETF 6.2 65 -30 3.2 -4.9
IGE iShares North American Natural Resources ETF 6.1 46 -11 4.1 -4.0
FOVL iShares Focused Value Factor ETF 6.0 25 10 10.8 +2.7
SOIL Global X Fertilizers/Potash ETF 5.2 69 -34 5.6 -2.6
DVP Deep Value ETF 4.7 59 -24 17.6 +9.5
VOE Vanguard Mid-Cap Value Index Fund 4.6 7 28 8.3 +0.1
GNR SPDR S&P Global Natural Resources ETF 4.6 40 -5 6.8 -1.4
COPX Global X Copper Miners ETF 4.6 65 -30 7.9 -0.2
MXI iShares Global Materials ETF 4.5 46 -11 6.4 -1.7
PXI Invesco DWA Energy Momentum ETF 4.5 60 -25 4.7 -3.4
GUNR Flexshares Morningstar Global Upstream Natural Resources 4.4 46 -11 6.3 -1.8
EES WisdomTree SmallCap Earnings Fund 4.1 38 -3 12.0 +3.9
SQLV Legg Mason Small-Cap Quality Value 4.0 62 -27 7.7 -0.4
CALF Pacer US Small Cap Cash Cows 100 ETF 4.0 59 -24 11.9 +3.8
RFV Invesco S&P Midcap 400 Pure Value ETF 3.7 35 0 10.6 +2.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 3.5 29 6 6.3 -1.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 3.4 20 15 6.2 -1.9
FYT First Trust Small Cap Value AlphaDEX Fund 3.4 72 -37 9.8 +1.7
EQRR ProShares Equities for Rising Rates ETF 3.3 35 0 6.3 -1.8
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 3.3 60 -25 8.8 +0.7
HAP VanEck Vectors Natural Resources ETF 3.2 50 -15 6.6 -1.5
VRAI Virtus Real Asset Income ETF 3.1 55 -20 11.7 +3.6
RWK Invesco S&P MidCap 400 Revenue ETF 3.1 39 -4 8.0 -0.1
PEXL Pacer US Export Leaders ETF 3.0 60 -25 6.5 -1.6
AVUV Avantis U.S. Small Cap Value ETF 3.0 25 10 9.8 +1.7
AFMC First Trust Active Factor Mid Cap ETF 3.0 65 -30 6.5 -1.6
PY Principal Shareholder Yield Index ETF 3.0 29 6 9.7 +1.6
CVY Invesco Zacks Multi-Asset Income ETF 2.9 97 -62 13.5 +5.4
ESGS Columbia Sustainable U.S. Equity Income ETF 2.8 35 0 9.1 +1.0
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 2.8 38 -3 9.2 +1.1
USMV iShares Edge MSCI Min Vol USA ETF 2.7 15 20 5.7 -2.4
GRES IQ Global Resources ETF 2.6 77 -42 7.7 -0.5
IWS iShares Russell Mid-Cap Value ETF 2.6 24 11 7.5 -0.6
SPMV Invesco S&P 500 Minimum Variance ETF 2.6 10 25 5.9 -2.3
QVAL Alpha Architect U.S. Quantitative Value ETF 2.6 49 -14 12.0 +3.9
SPVU Invesco S&P 500 Enhanced Value ETF 2.5 13 22 11.4 +3.3
MOAT VanEck Vectors Morningstar Wide Moat ETF 2.5 49 -14 6.2 -1.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 2.5 24 11 6.2 -1.9
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 2.5 39 -4 6.4 -1.7
KNOW Direxion All Cap Insider Sentiment Shares 2.4 59 -24 5.5 -2.6
TPHD Timothy Plan High Dividend Stock ETF 2.4 52 -17 7.4 -0.7
DES WisdomTree U.S. SmallCap Dividend Fund 2.4 38 -3 9.0 +0.9
JKI iShares Morningstar Mid-Cap Value ETF 2.4 30 5 10.0 +1.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 2.4 34 1 5.4 -2.8
GDXJ VanEck Vectors Junior Gold Miners ETF 2.4 53 -18 3.0 -5.1
SYLD Cambria Shareholder Yield ETF 2.4 59 -24 10.0 +1.9
MDYG SPDR S&P 400 Mid Cap Growth ETF 2.4 15 20 5.0 -3.2
IJK iShares S&P Mid-Cap 400 Growth ETF 2.3 24 11 4.9 -3.2
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 2.3 35 0 5.3 -2.8
SDGA Impact Shares Sustainable Development Goals Global ETF 2.3 75 -40 5.6 -2.6
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 2.3 15 20 4.9 -3.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 2.3 19 16 6.4 -1.7
QSY WisdomTree U.S. LargeCap Value Fund 2.3 38 -3 7.0 -1.1
SGDJ ALPS Sprott Junior Gold Miners ETF 2.3 50 -15 2.9 -5.2
VFMV Vanguard U.S. Minimum Volatility ETF 2.3 13 22 4.0 -4.1
ONEY SPDR Russell 1000 Yield Focus ETF 2.3 20 15 8.8 +0.7
FCPI Fidelity Stocks for Inflation ETF 2.3 29 6 7.0 -1.1
COWZ Pacer US Cash Cows 100 ETF 2.2 49 -14 10.3 +2.2
EWMC Invesco S&P MidCap 400 Equal Weight ETF 2.2 40 -5 7.2 -0.9
SDOG ALPS Sector Dividend Dogs ETF 2.2 40 -5 10.9 +2.8
RNSC Small Cap US Equity Select ETF 2.2 60 -25 8.1 -0.0
SPVM Invesco S&P 500 Value with Momentum ETF 2.2 39 -4 9.8 +1.7
ISMD Inspire Small/Mid Cap Impact ETF 2.2 61 -26 7.0 -1.1
EQWM Invesco S&P MidCap Quality ETF 2.1 25 10 5.0 -3.1
FTCS First Trust Capital Strength ETF 2.1 60 -25 4.9 -3.2
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 2.1 40 -5 6.2 -1.9
FAB First Trust Multi Cap Value AlphaDEX Fund 2.0 71 -36 10.3 +2.2
VO Vanguard Mid-Cap Index Fund 2.0 4 31 5.7 -2.4
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 2.0 52 -17 5.5 -2.6
VUSE Vident Core US Equity Fund 2.0 48 -13 8.1 -0.0
FYX First Trust Small Cap Core AlphaDEX Fund 2.0 63 -28 7.0 -1.1
RDVY First Trust Rising Dividend Achievers ETF 2.0 50 -15 8.1 0.0
RFG Invesco S&P Midcap 400 Pure Growth ETF 2.0 35 0 4.0 -4.1
PXMV Invesco S&P MidCap Value with Momentum ETF 1.9 39 -4 9.9 +1.8
RPV Invesco S&P 500 Pure Value ETF 1.9 35 0 11.9 +3.8
SFYF SoFi 50 ETF 1.9 29 6 5.7 -2.4

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

  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

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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:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.2 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.51
 
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.