SPDR S&P Retail ETF
ALTAR
Score™
8.2% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
14.4x P/Sales
ratio
0.5x
P/BV
ratio
2.1x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Retail ETF objective is to replicate as closely as possible the performance of the S&P Retail 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) $210
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 88
Wgt avg mkt cap (mns) $31,199
Large cap (>$10bn) 30.0%
Mid cap ($2-10bn) 35.5%
Small cap (<$2bn) 34.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
RITE AID CORP 2.4 %
L BRANDS, INC. 1.7 %
SIGNET JEWELERS LIMITED 1.6 %
CHILDREN'S PLACE 1.6 %
ETSY, INC. 1.6 %
AMAZON.COM INC 1.5 %
ULTA SALON COSMETICS & FRAGR 1.5 %
GRUBHUB INC 1.5 %
LIBERTY MEDIA CORP-INTER A 1.4 %
CASEY'S GENERAL STORES INC 1.4 %
Total 16.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.3 %
BERMUDA 1.6 %









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.
-6.4% -0.9% -13.0% 3.5% 2.3%

Market Correlations
versus... Beta R-squared
S&P500 1.17 59%
MSCI EAFE 1.08 42%
MSCI Emg. Mkts. 0.63 24%

Technical Indicators
Recent close $46.10
30d moving avg. $44.86
Annualized volatility 18.5%
Short interest (ETF) 338.9%
Short interest (Underlying) 9.8%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 3,624
Turnover 79.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $17,527

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XRT Expense: 35 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XRT
Ticker Fund
Name
Overlap1
vs XRT
(%)
Expense
ratio
(bp)
Savings
vs XRT
(bp)
ALTAR
Score™
(%)
ALTAR
vs XRT
(%)
RCD Invesco S&P Equal Weight Consumer Discretionary 28.7 40 -5 8.3 +0.0
PMR Invesco Dynamic Retail 26.0 63 -28 5.8 -2.4
JHMC John Hancock Multifactor Consumer Discretionary 25.2 40 -5 5.1 -3.1
FTXD First Trust Nasdaq Retail 24.6 60 -25 6.9 -1.3
IEDI iShares Evolved U.S. Discretionary Spending 22.8 18 17 4.8 -3.5
PSCD Invesco S&P Small Cap Consumer Discretionary 21.4 29 6 8.0 -0.3
FXD First Trust Consumer Discretionary 20.7 64 -29 7.6 -0.6
IYC iShares DJ US Consumer Services 20.2 42 -7 4.5 -3.7
XWEB SPDR S&P Internet 19.9 35 0 1.6 -6.7
IBUY Amplify Online Retail 18.8 65 -30 -1.0 -9.2
RTH VanEck Vectors Retail 18.3 35 0 5.5 -2.8
VCR Vanguard Consumer Discretionary 18.1 10 25 4.9 -3.4
FDIS Fidelity MSCI Consumer Discrettionary 17.8 8 27 4.8 -3.5
XLY Consumer Discretionary Select Sector SPDR 17.2 13 22 5.4 -2.8
PEZ Invesco DWA Consumer Discretionary Momentum 17.1 60 -25 4.5 -3.8
ONLN ProShares Online Retail 15.2 58 -23 1.9 -6.4
SYLD Cambria Shareholder Yield 13.9 59 -24 9.1 +0.9
QQXT First Trust NASDAQ-100 Ex-Tech 13.2 60 -25 4.5 -3.8
RXI iShares S&P Global Consumer Discretionary 13.1 46 -11 6.4 -1.9
EBIZ Global X E-commerce 12.5 50 -15 2.9 -5.4

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

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 Retail ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.8 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 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.