SPDR S&P Metals & Mining ETF
ALTAR
Score™
5.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
-1,007.2x P/Sales
ratio
0.9x
P/BV
ratio
1.8x Div.
yield
1.3%


  • 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 19, 2006
Assets (mns) $1,075
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 24
Wgt avg mkt cap (mns) $7,059
Large cap (>$10bn) 13.2%
Mid cap ($2-10bn) 58.7%
Small cap (<$2bn) 28.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CARPENTER TECHNOLOGY 5.3 %
FREEPORT-MCMORAN COPPER 5.2 %
CLEVELAND-CLIFFS INC 5.2 %
WARRIOR MET COAL, INC. 5.0 %
ARCH COAL INC CLASS A 4.6 %
UNITED STATES STEEL CORP 4.6 %
ALLEGHENY TECHNOLOGIES INC 4.6 %
HECLA MINING CO 4.5 %
KAISER ALUMINUM CORP 4.5 %
WORTHINGTON INDUSTRIES 4.4 %
Total 47.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.9 %










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.
15.9% 15.9% 19.4% -5.5% -1.3%

Market Correlations
versus... Beta R-squared
S&P500 1.62 73%
MSCI EAFE 1.64 73%
MSCI Emg. Mkts. 1.44 73%

Technical Indicators
Recent close $34.50
30d moving avg. $34.16
Annualized volatility 35.7%
Short interest (ETF) 17.5%
Short interest (Underlying) 11.8%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 2,699
Turnover 8.7%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $1,992

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 5.1%


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
(%)
PYZ Invesco DWA Basic Materials Momentum ETF 31.2 60 -25 4.2 -0.9
SLX VanEck Vectors Steel ETF 29.6 56 -21 9.8 +4.7
PSCM Invesco S&P SmallCap Materials ETF 25.4 29 6 6.8 +1.7
FXZ First Trust Materials AlphaDEX Fund 21.7 65 -30 5.7 +0.6
VAW Vanguard Materials Index Fund 16.0 10 25 5.0 -0.1
IYM iShares U.S. Basic Materials ETF 15.8 43 -8 4.4 -0.7
FMAT Fidelity MSCI Materials Index ETF 15.7 8 27 5.0 -0.1
JHMA John Hancock Multifactor Materials ETF 14.6 40 -5 5.3 +0.2
SLVP iShares MSCI Global Silver Miners ETF 13.2 39 -4 1.7 -3.4
XLB Materials Select Sector SPDR Fund 11.5 13 22 4.8 -0.3
PICK iShares MSCI Global Metals & Mining Producers ETF 11.2 39 -4 5.4 +0.3
RTM Invesco S&P 500 Equal Weight Materials ETF 11.0 40 -5 4.7 -0.4
PAVE Global X U.S. Infrastructure Development ETF 10.7 47 -12 4.2 -0.9
AMER Emles Made in America ETF 10.3 49 -14 6.8 +1.8
NANR SPDR S&P North American Natural Resources ETF 9.6 35 0 3.1 -2.0
SGDM Sprott Gold Miners ETF 9.4 50 -15 3.4 -1.7
GDX VanEck Vectors Gold Miners ETF 8.8 52 -17 3.4 -1.7
IFRA iShares U.S. Infrastructure ETF 8.3 40 -5 5.0 -0.1
FCPI Fidelity Stocks for Inflation ETF 8.2 29 6 5.7 +0.6
SIL Global X Silver Miners ETF 8.1 66 -31 2.1 -3.0
IGE iShares North American Natural Resources ETF 7.7 46 -11 3.6 -1.5
GOEX Global X Gold Explorers ETF 7.7 65 -30 3.3 -1.8
SILJ ETFMG Prime Junior Silver ETF 6.9 69 -34 0.5 -4.6
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 6.7 35 0 7.2 +2.1
XMVM Invesco S&P MidCap Value with Momentum ETF 6.6 39 -4 8.0 +2.9
KOL VanEck Vectors Coal ETF 6.4 60 -25 14.1 +9.0
XMHQ Invesco S&P MidCap Quality ETF 5.6 25 10 5.3 +0.3
RING iShares MSCI Global Gold Miners ETF 5.5 39 -4 3.9 -1.2
COPX Global X Copper Miners ETF 5.2 65 -30 4.0 -1.1
FOVL iShares Focused Value Factor ETF 5.1 25 10 7.7 +2.6
MXI iShares Global Materials ETF 4.5 45 -10 4.9 -0.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 4.4 46 -11 5.0 -0.1
SGDJ Sprott Junior Gold Miners ETF 4.3 50 -15 4.4 -0.7
EQRR ProShares Equities for Rising Rates ETF 4.2 35 0 6.2 +1.1
GNR SPDR S&P Global Natural Resources ETF 4.2 40 -5 5.1 +0.0
GRES IQ Global Resources ETF 4.1 78 -43 5.6 +0.5
NKEF Sample Portfolio 4.1 0 35 3.8 -1.3
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 4.1 60 -25 2.3 -2.8
SYLD Cambria Shareholder Yield ETF 3.7 59 -24 7.1 +2.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 3.6 65 -30 1.2 -3.9
RFV Invesco S&P Midcap 400 Pure Value ETF 3.5 35 0 8.9 +3.8
VRAI Virtus Real Asset Income ETF 3.4 55 -20 8.8 +3.7
GDXJ VanEck Vectors Junior Gold Miners ETF 3.3 53 -18 2.9 -2.2
DRIV Global X Autonomous & Electric Vehicles ETF 3.3 68 -33 3.9 -1.2
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 3.2 60 -25 6.1 +1.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 3.2 29 6 4.2 -0.9
PWB Invesco Dynamic Large Cap Growth ETF 3.2 56 -21 2.1 -3.0
SVAL iShares US Small Cap Value Factor ETF 3.1 20 15 8.3 +3.2
PEXL Pacer US Export Leaders ETF 3.0 60 -25 4.6 -0.5
AFMC First Trust Active Factor Mid Cap ETF 2.9 65 -30 5.2 +0.1
IWN iShares Russell 2000 Value ETF 2.9 24 11 5.1 -0.0
DES WisdomTree U.S. SmallCap Dividend Fund 2.9 38 -3 6.7 +1.6
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 2.9 49 -14 4.1 -1.0
HAP VanEck Vectors Natural Resources ETF 2.9 50 -15 4.8 -0.3
PXI Invesco DWA Energy Momentum ETF 2.8 60 -25 0.2 -4.9
RWK Invesco S&P MidCap 400 Revenue ETF 2.8 39 -4 6.3 +1.3
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 2.8 60 -25 4.6 -0.5
AVUV Avantis U.S. Small Cap Value ETF 2.7 25 10 6.4 +1.3
JKL iShares Morningstar Small Cap Value ETF 2.7 30 5 7.6 +2.5
PY Principal Shareholder Yield Index ETF 2.6 15 20 7.8 +2.7
IJJ iShares S&P Mid-Cap 400 Value ETF 2.6 18 17 6.9 +1.8
MDYV SPDR S&P 400 Mid Cap Value ETF 2.6 15 20 6.9 +1.9
ESGS Columbia Sustainable U.S. Equity Income ETF 2.6 35 0 7.4 +2.3
VAMO Cambria Value & Momentum ETF 2.6 63 -28 5.4 +0.3
VTWV Vanguard Russell 2000 Value Index Fund 2.5 15 20 5.2 +0.1
VOE Vanguard Mid-Cap Value Index Fund 2.5 7 28 6.6 +1.5
GURU Global X Guru Index ETF 2.4 75 -40 3.2 -1.9
RNSC Small Cap US Equity Select ETF 2.4 60 -25 6.0 +0.9
MOAT VanEck Vectors Morningstar Wide Moat ETF 2.4 48 -13 6.2 +1.1
WWOW Direxion World Without Waste ETF 2.3 50 -15 0.1 -5.0
VIOV Vanguard S&P Small-Cap 600 Value ETF 2.3 15 20 7.0 +1.9
RWJ Invesco S&P SmallCap 600 Revenue ETF 2.3 39 -4 5.5 +0.4
IUSS Invesco Strategic US Small Company ETF 2.2 23 12 3.7 -1.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 2.2 30 5 6.0 +0.9
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.2 70 -35 2.5 -2.6
PWC Invesco Dynamic Market ETF 2.2 58 -23 3.1 -2.0
SPMV Invesco S&P 500 Minimum Variance ETF 2.2 10 25 5.4 +0.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 2.1 25 10 4.8 -0.3
RDVY First Trust Rising Dividend Achievers ETF 2.1 50 -15 6.4 +1.3
TPSC Timothy Plan US Small Cap Core ETF 2.1 52 -17 5.7 +0.6
ISMD Inspire Small/Mid Cap Impact ETF 2.0 60 -25 4.3 -0.8
ROSC Hartford Multifactor Small Cap ETF 2.0 34 1 6.5 +1.5
TPHD Timothy Plan High Dividend Stock ETF 2.0 52 -17 5.6 +0.5
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 2.0 35 0 6.0 +0.9
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 2.0 35 0 6.0 +0.9
PRNT The 3D Printing ETF 2.0 66 -31 0.7 -4.4
IJS iShares S&P Small-cap 600 Value ETF 2.0 18 17 6.9 +1.8
SLYV SPDR S&P 600 Small Cap Value ETF 2.0 15 20 7.0 +1.9
EVX VanEck Vectors Environmental Services ETF 2.0 55 -20 2.9 -2.2
SPSM SPDR Portfolio Small Cap ETF 2.0 5 30 5.7 +0.6
SLY SPDR S&P 600 Small Cap ETF 2.0 15 20 5.6 +0.5
VUSE Vident Core US Equity Fund 1.9 48 -13 7.3 +2.2
VIOO Vanguard S&P Small-Cap 600 ETF 1.9 10 25 5.6 +0.5
SLYG SPDR S&P 600 Small Cap Growth ETF 1.9 15 20 4.4 -0.7
IJT iShares S&P Small-Cap 600 Growth ETF 1.9 18 17 4.4 -0.7
VFVA Vanguard U.S. Value Factor ETF 1.9 14 21 8.4 +3.3
IJR iShares Core S&P Small Cap ETF 1.9 6 29 5.7 +0.6
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 1.9 30 5 7.3 +2.2

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 9.0 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 CATEGORY
AVERAGE
1.48
 
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.