SPDR S&P Oil & Gas Exploration & Production ETF
ALTAR
Score™
3.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
-19.4x P/Sales
ratio
0.7x
P/BV
ratio
0.7x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Oil & Gas Exploration & Production ETF objective is to replicate as closely as possible the S&P Oil & Gas Exploration Index, an equal-weighted index.

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Jun 19, 2006
Assets (mns) $2,347
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 43
Wgt avg mkt cap (mns) $20,238
Large cap (>$10bn) 35.6%
Mid cap ($2-10bn) 49.3%
Small cap (<$2bn) 15.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EQT CORP 4.1 %
APACHE CORP 3.9 %
HESS CORP 3.7 %
PIONEER NATURAL RESOURCES CO 3.7 %
CONTINENTAL RESOURCES INC/OK 3.6 %
PARSLEY ENERGY INC-CLASS A 3.6 %
CABOT OIL & GAS CORP 3.6 %
NOBLE ENERGY INC 3.5 %
MARATHON PETROLEUM 3.5 %
DEVON ENERGY CORPORATION 3.3 %
Total 36.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-44.9% -47.4% -18.6% -9.8% -6.6%

Market Correlations
versus... Beta R-squared
S&P500 2.62 61%
MSCI EAFE 2.78 58%
MSCI Emg. Mkts. 2.07 53%

Technical Indicators
Recent close $54.91
30d moving avg. $52.16
Annualized volatility 57.5%
Short interest (ETF) 28.5%
Short interest (Underlying) 8.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 8,124
Turnover 19.0%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $4,967

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SPDR S&P Oil & Gas Exploration & Production ETF ETF based on the alternatives' overlap in portfolio holdings with XOP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XOP Expense: 35 bp ALTAR Score™: 3.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XOP
Ticker Fund
Name
Overlap1
vs XOP
(%)
Expense
ratio
(bp)
Savings
vs XOP
(bp)
ALTAR
Score™
(%)
ALTAR
vs XOP
(%)
FCG First Trust Natural Gas ETF 69.2 60 -25 3.6 +0.3
PXE Invesco Dynamic Energy Exploration & Production ETF 66.9 63 -28 0.9 -2.4
RYE Invesco S&P 500 Equal Weight Energy ETF 58.9 40 -5 3.6 +0.3
FRAK VanEck Vectors Unconventional Oil & Gas ETF 58.3 54 -19 1.5 -1.8
IEO iShares U.S. Oil & Gas Exploration & Production ETF 57.3 42 -7 3.4 +0.1
FXN First Trust Energy AlphaDEX Fund 55.9 65 -30 2.5 -0.8
JHME John Hancock Multifactor Energy ETF 54.4 40 -5 3.7 +0.4
PXI Invesco DWA Energy Momentum ETF 54.1 60 -25 0.5 -2.9
FTXN First Trust Nasdaq Oil & Gas ETF 50.2 60 -25 3.1 -0.2
FENY Fidelity MSCI Energy Index ETF 37.4 8 27 4.2 +0.9
VDE Vanguard Energy Index Fund 37.1 10 25 3.9 +0.6
XLE Energy Select Sector SPDR Fund 36.8 13 22 4.5 +1.2
IYE iShares U.S. Energy ETF 36.4 42 -7 4.0 +0.7
IGE iShares North American Natural Resources ETF 27.1 46 -11 4.0 +0.7
FILL iShares MSCI Global Energy Producers ETF 23.7 39 -4 6.3 +3.0
IXC iShares Global Energy ETF 23.4 46 -11 5.9 +2.6
NANR SPDR S&P North American Natural Resources ETF 21.5 35 0 3.4 +0.1
EQRR ProShares Equities for Rising Rates ETF 20.9 35 0 6.6 +3.3
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 18.3 75 -40 3.1 -0.2
VSL Volshares Large Capital ETF 16.3 65 -30 2.7 -0.7
PMOM Principal Sustainable Momentum Index ETF 14.2 29 6 8.3 +5.0
CRAK VanEck Vectors Oil Refiners ETF 13.8 60 -25 12.3 +9.0
GBDV Global Beta Smart Income ETF 12.9 29 6 8.2 +4.9
RDIV Invesco S&P Ultra Dividend Revenue ETF 12.5 39 -4 10.2 +6.9
PVAL Principal Contrarian Value Index ETF 11.4 29 6 9.3 +6.0
SPHB Invesco S&P 500 High Beta ETF 10.8 25 10 8.7 +5.4
PSCE Invesco S&P SmallCap Energy ETF 10.6 29 6 -2.4 -5.7
GNR SPDR S&P Global Natural Resources ETF 10.1 40 -5 6.3 +3.0
GUNR Flexshares Morningstar Global Upstream Natural Resources 10.1 46 -11 5.5 +2.2
MAGA Point Bridge GOP Stock Tracker ETF 9.9 72 -37 6.1 +2.8
FOVL iShares Focused Value Factor ETF 9.3 25 10 9.7 +6.4
HAP VanEck Vectors Natural Resources ETF 9.1 50 -15 5.9 +2.5
HDV iShares Core High Dividend ETF 8.8 8 27 6.6 +3.3
SPVU Invesco S&P 500 Enhanced Value ETF 8.1 13 22 11.0 +7.7
RPV Invesco S&P 500 Pure Value ETF 8.0 35 0 10.5 +7.1
QDIV Global X S&P 500 Quality Dividend ETF 7.7 20 15 7.3 +4.0
AVUV Avantis U.S. Small Cap Value ETF 7.3 25 10 8.0 +4.7
VLU SPDR S&P 1500 Value Tilt ETF 7.2 12 23 7.0 +3.7
DHS WisdomTree U.S. High Dividend Fund 7.2 38 -3 8.4 +5.1
DVY iShares Select Dividend ETF 7.1 39 -4 9.2 +5.9
IUS Invesco Strategic US ETF 7.0 19 16 6.2 +2.9
SPYD SPDR S&P 500 High Dividend ETF 7.0 7 28 10.9 +7.6
ONEY SPDR Russell 1000 Yield Focus ETF 6.8 20 15 8.8 +5.4
RFV Invesco S&P Midcap 400 Pure Value ETF 6.7 35 0 9.4 +6.1
DJD Invesco Dow Jones Industrial Average Dividend ETF 6.5 7 28 6.7 +3.3
JKF iShares Morningstar Large Cap Value ETF 6.5 25 10 7.4 +4.1
SLT Salt TruBeta High Exposure ETF 6.5 29 6 8.7 +5.4
FTA First Trust Large Cap Value AlphaDEX Fund 6.4 60 -25 8.9 +5.6
GRES IQ Global Resources ETF 6.2 77 -42 7.2 +3.9
OUSA O'Shares FTSE US Quality Dividend ETF 6.2 48 -13 5.5 +2.2
SYV SPDR MFS Systematic Value Equity ETF 6.1 60 -25 7.1 +3.8
EQAL Invesco Russell 1000 Equal Weight ETF 6.0 20 15 5.4 +2.0
EDOW First Trust Dow 30 Equal Weight ETF 5.9 50 -15 5.7 +2.4
VAMO Cambria Value & Momentum ETF 5.9 64 -29 6.3 +3.0
HLAL Wahed FTSE USA Shariah ETF 5.8 50 -15 4.3 +1.0
FCPI Fidelity Stocks for Inflation ETF 5.8 29 6 6.6 +3.3
DEW WisdomTree Global High Dividend Fund 5.8 58 -23 9.1 +5.8
RWL Invesco S&P 500 Revenue ETF 5.8 39 -4 6.8 +3.5
PRF Invesco FTSE RAFI US 1000 ETF 5.6 39 -4 6.5 +3.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 5.6 19 16 5.8 +2.5
SYLD Cambria Shareholder Yield ETF 5.6 59 -24 8.5 +5.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 5.5 25 10 6.1 +2.8
FMK First Trust Mega Cap AlphaDEX Fund 5.5 70 -35 4.6 +1.3
FDVV Fidelity Core Dividend ETF 5.3 29 6 6.9 +3.6
USDY Pacific Global US Equity Income ETF 5.2 29 6 7.0 +3.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 5.2 25 10 6.1 +2.8
TTFS AdvisorShares Wilshire Buyback ETF 5.2 91 -56 5.9 +2.6
DLN WisdomTree U.S. LargeCap Dividend Fund 5.1 28 7 6.2 +2.9
DTN WisdomTree U.S. Dividend ex-Financials Fund 5.0 38 -3 7.6 +4.3
VYM Vanguard High Dividend Yield Index ETF 4.9 6 29 7.2 +3.9
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 4.9 30 5 9.1 +5.8
FAB First Trust Multi Cap Value AlphaDEX Fund 4.9 71 -36 9.4 +6.0
RZV Invesco S&P Smallcap 600 Pure Value ETF 4.8 35 0 7.1 +3.7
WBIY WBI Power Factor High Dividend ETF 4.7 70 -35 10.6 +7.3
DTD WisdomTree U.S.Total Dividend Fund 4.7 28 7 6.4 +3.1
SCHD Schwab U.S. Dividend Equity ETF 4.7 6 29 7.7 +4.4
IWX iShares Russell Top 200 Value ETF 4.7 20 15 6.6 +3.3
REVS Columbia Research Enhanced Value ETF 4.6 19 16 7.2 +3.8
JKL iShares Morningstar Small Cap Value ETF 4.6 30 5 9.6 +6.3
VRAI Virtus Real Asset Income ETF 4.6 55 -20 11.5 +8.2
DIV Global X SuperDividend US ETF 4.5 46 -11 6.9 +3.6
MGV Vanguard Mega Cap Value ETF 4.4 7 28 7.0 +3.7
RVRS Reverse Cap Weighted U.S. Large Cap ETF 4.4 29 6 7.6 +4.3
QDYN FlexShares Quality Dividend Dynamic Index Fund 4.4 37 -2 5.9 +2.6
PEY Invesco High Yield Equity Dividend Achievers ETF 4.4 53 -18 9.4 +6.1
SCHV Schwab U.S. Large-Cap Value ETF 4.3 4 31 6.9 +3.6
IVE iShares S&P 500 Value ETF 4.3 18 17 7.0 +3.7
SPYV SPDR Portfolio S&P 500 Value ETF 4.3 4 31 7.1 +3.8
VOOV Vanguard S&P 500 Value ETF 4.3 15 20 7.0 +3.7
QDEF FlexShares Quality Dividend Defensive Index Fund 4.2 37 -2 5.6 +2.3
IUSV iShares Core S&P U.S. Value ETF 4.1 4 31 7.2 +3.9
JDIV JPMorgan U.S. Dividend ETF 4.1 12 23 7.5 +4.2
EES WisdomTree SmallCap Earnings Fund 4.1 38 -3 10.1 +6.8
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 4.1 29 6 9.0 +5.7
SDY SPDR S&P Dividend ETF 4.1 35 0 6.8 +3.5
PY Principal Shareholder Yield Index ETF 4.1 29 6 8.8 +5.5
IWD iShares Russell 1000 Value ETF 4.0 19 16 6.7 +3.4
VONV Vanguard Russell 1000 Value Index Fund 4.0 8 27 6.8 +3.5
VTV Vanguard Value Index Fund 3.9 4 31 7.1 +3.8
JKI iShares Morningstar Mid-Cap Value ETF 3.9 30 5 8.6 +5.3

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 Oil & Gas Exploration & Production 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 2.6 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.52
 
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.