SPDR S&P Retail ETF
ALTAR
Score™		 4.8% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 45.2x P/Sales
ratio		 0.6x
P/BV
ratio		 3.4x Div.
yield		 0.7%


  • 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 US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Jun 19, 2006
Assets (mns) $746
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 95
Wgt avg mkt cap (mns) $36,023
Large cap (>$10bn) 30.8%
Mid cap ($2-10bn) 33.9%
Small cap (<$2bn) 32.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GAMESTOP CORP-CLASS A 2.8 %
REALREAL, INC. 1.7 %
RUBICON PROJECT INC/THE 1.7 %
BLINK CHARGING CO 1.6 %
SPORTSMAN'S WAREHOUSE HOLDIN 1.4 %
BOOT BARN HOLDINGS, INC. 1.4 %
CHILDREN'S PLACE 1.4 %
OFFICE DEPOT INC 1.4 %
1-800-FLOWERS.COM INC-CL A 1.4 %
RENT-A-CENTER INC 1.3 %
Total 16.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.5 %
BERMUDA 1.3 %









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.
41.8% 41.8% 9.9% 4.2% 5.1%

Market Correlations
versus... Beta R-squared
S&P500 1.49 84%
MSCI EAFE 1.45 78%
MSCI Emg. Mkts. 1.21 69%

Technical Indicators
Recent close $73.17
30d moving avg. $66.15
Annualized volatility 30.6%
Short interest (ETF) 118.4%
Short interest (Underlying) 9.8%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 3,223
Turnover 31.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $32,242

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 95 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™: 4.8%


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
(%)
FXD First Trust Consumer Discretionary AlphaDEX Fund 24.9 64 -29 4.7 -0.1
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 24.2 29 6 6.6 +1.8
FTXD First Trust Nasdaq Retail ETF 22.8 60 -25 5.3 +0.5
XWEB SPDR S&P Internet ETF 22.7 35 0 0.3 -4.5
JHMC John Hancock Multifactor Consumer Discretionary ETF 22.4 40 -5 3.5 -1.3
IBUY Amplify Online Retail ETF 21.8 65 -30 -0.4 -5.2
RCD Invesco S&P 500 Equal Weight Consumer Discretionary ETF 20.0 40 -5 4.7 -0.1
IEDI iShares Evolved U.S. Discretionary Spending ETF 19.7 18 17 3.4 -1.5
ONLN ProShares Online Retail ETF 18.8 58 -23 0.7 -4.1
IYC iShares U.S. Consumer Services ETF 18.2 43 -8 3.2 -1.6
VCR Vanguard Consumer Discretionary Index Fund 17.9 10 25 3.3 -1.6
FDIS Fidelity MSCI Consumer Discretionary Index ETF 17.1 8 27 3.3 -1.5
RTH VanEck Vectors Retail ETF 15.2 35 0 4.8 +0.0
PEZ Invesco DWA Consumer Cyclicals Momentum ETF 14.3 60 -25 1.4 -3.4
XLY Consumer Discretionary Select Sector SPDR Fund 13.8 13 22 3.1 -1.7
CALF Pacer US Small Cap Cash Cows 100 ETF 13.6 59 -24 8.9 +4.1
RWJ Invesco S&P SmallCap 600 Revenue ETF 13.4 39 -4 5.5 +0.7
MILN Global X Millennials Thematic ETF 12.8 50 -15 1.9 -2.9
XSVM Invesco S&P SmallCap Value with Momentum ETF 12.6 39 -4 7.0 +2.1
EBIZ Global X E-Commerce ETF 11.6 50 -15 2.5 -2.3
COWZ Pacer US Cash Cows 100 ETF 11.5 49 -14 10.2 +5.4
RXI iShares Global Consumer Discretionary ETF 10.7 46 -11 3.7 -1.1
AVUV Avantis U.S. Small Cap Value ETF 10.2 25 10 6.4 +1.6
VFQY Vanguard U.S. Quality Factor ETF 10.2 13 22 5.3 +0.5
VAMO Cambria Value & Momentum ETF 10.2 63 -28 5.4 +0.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 10.2 35 0 4.9 +0.1
VFMF Vanguard U.S. Multifactor ETF 9.7 19 16 6.1 +1.3
RWK Invesco S&P MidCap 400 Revenue ETF 9.6 39 -4 6.3 +1.5
QVAL Alpha Architect U.S. Quantitative Value ETF 9.6 49 -14 7.9 +3.1
ROSC Hartford Multifactor Small Cap ETF 9.3 34 1 6.5 +1.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 9.2 30 5 5.0 +0.2
VUSE Vident Core US Equity Fund 8.9 48 -13 7.3 +2.5
GBLO Global Beta Low Beta ETF 8.8 29 6 7.3 +2.5
DVLU First Trust Dorsey Wright Momentum & Value ETF 8.7 60 -25 8.6 +3.8
XMVM Invesco S&P MidCap Value with Momentum ETF 8.5 39 -4 8.0 +3.2
FLQL Franklin LibertyQ U.S. Equity ETF 8.5 15 20 5.9 +1.1
SYLD Cambria Shareholder Yield ETF 8.5 59 -24 7.1 +2.3
GENY Principal Millennials Index ETF 8.3 45 -10 3.4 -1.4
ROUS Hartford Multifactor US Equity ETF 8.3 19 16 5.8 +1.0
STLC iShares Factors US Blend Style ETF 8.2 25 10 4.8 -0.0
LSAF LeaderShares AlphaFactor US Core Equity ETF 8.1 75 -40 5.2 +0.4
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 8.1 60 -25 4.4 -0.4
RWL Invesco S&P 500 Revenue ETF 8.1 39 -4 6.2 +1.4
SPLV Invesco S&P 500 Low Volatility ETF 8.0 25 10 5.6 +0.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 7.9 60 -25 4.6 -0.2
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 7.9 30 5 5.3 +0.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 7.9 35 0 4.3 -0.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 7.9 59 -24 4.0 -0.8
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 7.8 30 5 6.0 +1.2
RFV Invesco S&P Midcap 400 Pure Value ETF 7.7 35 0 8.9 +4.1
DSTL Distillate US Fundamental Stability & Value ETF 7.7 39 -4 5.6 +0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 7.6 9 26 4.8 -0.0
SIXL 6 Meridian Low Beta Equity Strategy ETF 7.6 84 -49 4.1 -0.7
VIOV Vanguard S&P Small-Cap 600 Value ETF 7.5 15 20 7.0 +2.2
STLG iShares Factors US Growth Style ETF 7.5 25 10 3.9 -0.9
STMB iShares Factors US Mid Blend Style ETF 7.4 30 5 4.9 +0.1
JKD iShares Morningstar Large-Cap ETF 7.3 20 15 4.7 -0.1
PNQI Invesco NASDAQ Internet ETF 7.3 60 -25 1.0 -3.8
STLV iShares Factors US Value Style ETF 7.2 25 10 6.5 +1.7
JQUA JPMorgan U.S. Quality Factor ETF 7.2 12 23 5.0 +0.2
IUS Invesco Strategic US ETF 7.1 19 16 5.4 +0.6
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 7.1 49 -14 4.2 -0.7
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 7.1 35 0 6.6 +1.8
TTAC TrimTabs US Free Cash Flow Quality ETF 7.1 59 -24 3.4 -1.4
SPVM Invesco S&P 500 Value with Momentum ETF 7.1 39 -4 7.7 +2.9
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 7.0 39 -4 4.0 -0.9
FLLV Franklin Liberty U.S. Low Volatility ETF 7.0 29 6 4.9 +0.1
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 7.0 25 10 5.8 +1.0
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 7.0 29 6 7.2 +2.4
DEF Invesco Defensive Equity ETF 7.0 55 -20 5.2 +0.4
AFLG First Trust Active Factor Large Cap ETF 6.9 55 -20 4.7 -0.2
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 6.9 38 -3 7.1 +2.2
EES WisdomTree SmallCap Earnings Fund 6.8 38 -3 7.6 +2.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 6.7 25 10 5.7 +0.9
FDN First Trust Dow Jones Internet Index Fund 6.6 52 -17 1.7 -3.1
RBUS Nationwide Risk-Based U.S. Equity ETF 6.6 30 5 4.6 -0.2
BUYZ Franklin Disruptive Commerce ETF 6.6 50 -15 -0.3 -5.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 6.6 19 16 5.3 +0.4
MXDU Nationwide Maximum Diversification US Core Equity ETF 6.6 34 1 4.3 -0.5
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 6.5 75 -40 5.3 +0.5
PRF Invesco FTSE RAFI US 1000 ETF 6.5 39 -4 5.8 +1.0
USMF WisdomTree U.S. Multifactor Fund 6.5 28 7 5.4 +0.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 6.4 25 10 5.7 +0.8
BFOR Barron's 400 ETF 6.4 65 -30 5.6 +0.8
LRGF iShares Edge MSCI Multifactor USA ETF 6.4 20 15 6.0 +1.2
ACSI American Customer Satisfaction Core Alpha ETF 6.3 66 -31 3.5 -1.3
SLYV SPDR S&P 600 Small Cap Value ETF 6.2 15 20 7.0 +2.2
IJS iShares S&P Small-cap 600 Value ETF 6.2 18 17 6.9 +2.1
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 6.2 60 -25 3.6 -1.2
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 6.2 15 20 6.0 +1.1
HUSV First Trust Horizon Managed Volatility Domestic ETF 6.2 70 -35 4.8 -0.0
QGRO American Century STOXX U.S. Quality Growth ETF 6.2 29 6 3.7 -1.2
VFVA Vanguard U.S. Value Factor ETF 6.1 14 21 8.4 +3.6
RZG Invesco S&P Smallcap 600 Pure Growth ETF 6.1 35 0 3.8 -1.0
AIEQ AI Powered Equity ETF 6.1 87 -52 1.8 -3.0

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

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.4 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.49
 
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.