SPDR S&P Semiconductor ETF
ALTAR
Score™
5.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.6x P/Sales
ratio
2.6x
P/BV
ratio
2.8x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P Semiconductors ETF seeks to closely match the returns and characteristics of the S&P Semiconductor Select Industry Index, before expenses.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.ssgafunds.com
Inception date Feb 06, 2006
Assets (mns) $325
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 37
Wgt avg mkt cap (mns) $32,872
Large cap (>$10bn) 44.9%
Mid cap ($2-10bn) 43.4%
Small cap (<$2bn) 11.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NVIDIA CORP 4.4 %
ADVANCED MICRO DEVICES 4.1 %
INPHI CORP 4.0 %
CYPRESS SEMICONDUCTOR CORP 3.7 %
MONOLITHIC POWER SYSTEMS INC 3.6 %
INTEL CORP 3.5 %
LATTICE SEMICONDUCTOR CORP 3.5 %
SYNAPTICS INC 3.4 %
AMBARELLA INC 3.3 %
MARVELL TECHNOLOGY GROUP LTD 3.3 %
Total 37.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.4 %
BERMUDA 3.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.6% 7.6% -0.1% 6.5% 4.0%

Market Correlations
versus... Beta R-squared
S&P500 1.35 69%
MSCI EAFE 1.18 51%
MSCI Emg. Mkts. 0.95 49%

Technical Indicators
Recent close $79.29
30d moving avg. $87.67
Annualized volatility 24.8%
Short interest (ETF) 8.9%
Short interest (Underlying) 6.6%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 145
Turnover 3.5%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $24,942

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XSD Expense: 35 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XSD
Ticker Fund
Name
Overlap1
vs XSD
(%)
Expense
ratio
(bp)
Savings
vs XSD
(bp)
ALTAR
Score™
(%)
ALTAR
vs XSD
(%)
PSI Invesco Dynamic Semiconductors ETF 50.5 58 -23 7.3 +1.5
FTXL First Trust Nasdaq Semiconductor ETF 48.3 60 -25 7.3 +1.5
SOXX iShares PHLX Semiconductor ETF 45.7 46 -11 7.3 +1.5
SMH VanEck Vectors Semiconductor ETF 40.5 35 0 7.6 +1.7
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 29.1 57 -22 6.4 +0.6
DRIV Global X Autonomous & Electric Vehicles ETF 26.3 68 -33 8.7 +2.9
TDV ProShares S&P Technology Dividend Aristocrats ETF 23.8 45 -10 6.4 +0.6
JHMT John Hancock Multifactor Technology ETF 22.4 40 -5 6.9 +1.1
PTF Invesco DWA Technology Momentum ETF 22.3 60 -25 3.1 -2.8
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 22.1 70 -35 9.0 +3.2
XNTK SPDR Morgan Stanley Technology ETF 21.9 35 0 5.5 -0.4
QTUM Defiance Quantum ETF 21.0 40 -5 7.3 +1.5
IDRV iShares Self-driving EV & Tech ETF 20.1 47 -12 10.5 +4.6
FIVG Defiance Next Gen Connectivity ETF 19.3 30 5 5.7 -0.1
MOTO SmartETFs Smart Transportation & Technology ETF 18.8 68 -33 12.4 +6.6
RYT Invesco S&P 500 Equal Weight Technology ETF 18.8 40 -5 8.4 +2.5
SNSR Global X Internet of Things Thematic ETF 18.4 68 -33 6.7 +0.8
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 16.7 49 -14 11.4 +5.5
SPHB Invesco S&P 500 High Beta ETF 16.5 25 10 11.7 +5.9
GDAT Goldman Sachs Motif Data-Driven World Etf 16.2 50 -15 7.0 +1.2
TDIV First Trust NASDAQ Technology Dividend Index Fund 16.1 50 -15 7.8 +2.0
IYW iShares U.S. Technology ETF 15.9 42 -7 5.7 -0.1
FXL First Trust Technology AlphaDEX Fund 15.7 61 -26 5.5 -0.3
AIQ Global X Future Analytics Tech ETF 15.3 68 -33 6.0 +0.2
LRNZ TrueMark Technology, AI & Deep Learning ETF 15.1 68 -33 1.8 -4.0
XLK Technology Select Sector SPDR Fund 15.1 13 22 6.4 +0.6
FTEC Fidelity MSCI Information Technology Index ETF 14.7 8 27 6.4 +0.5
VGT Vanguard Information Technology Index Fund 14.7 10 25 6.3 +0.5
TECB iShares US Tech Breakthrough Multisector ETF 14.0 40 -5 5.5 -0.3
FONE First Trust Indxx NextG ETF 13.8 70 -35 7.7 +1.9
GEX VanEck Vectors Global Alternative Energy ETF 13.4 63 -28 7.3 +1.4
IRBO iShares Robotics & Artificial Intelligence ETF 13.4 47 -12 4.0 -1.8
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 13.4 60 -25 2.4 -3.5
PEXL Pacer US Export Leaders ETF 13.3 60 -25 9.1 +3.3
IXN iShares Global Tech ETF 12.7 46 -11 6.4 +0.5
KOIN Innovation Shares NextGen Protocol ETF 12.6 95 -60 5.9 +0.1
IGM iShares North American Tech ETF 12.4 46 -11 5.4 -0.4
EKAR Innovation Shares NextGen Vehicles & Technology ETF 12.4 65 -30 13.2 +7.4
IFLY ETFMG Drone Economy Strategy ETF 12.0 75 -40 1.6 -4.3
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 11.7 60 -25 5.7 -0.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 11.6 35 0 5.9 +0.1
QYLD Global X NASDAQ 100 Covered Call ETF 11.5 60 -25 4.9 -0.9
NUSI Nationwide Risk-Managed Income ETF 11.2 68 -33 4.8 -1.0
BLCN Reality Shares Nasdaq NextGen Economy ETF 11.0 68 -33 6.3 +0.4
BOUT Innovator IBD Breakout Opportunities ETF 10.9 80 -45 5.7 -0.2
QQQ Invesco QQQ Trust 10.8 20 15 5.5 -0.4
LEGR First Trust Index Digital Transaction & Process Technology E 10.3 65 -30 9.4 +3.6
XKII SPDR Kensho Intelligent Structures ETF 10.0 45 -10 8.9 +3.1
XKST SPDR Kensho Smart Mobility ETF 9.9 45 -10 5.6 -0.2
SCHD Schwab U.S. Dividend Equity ETF 9.9 6 29 9.5 +3.6
FFTY Innovator IBD 50 ETF 9.9 80 -45 5.5 -0.3
LOUP Innovator Loup Frontier Tech ETF 9.8 70 -35 5.2 -0.7
BUL Pacer US Cash Cows Growth ETF 9.8 60 -25 8.1 +2.3
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 9.5 50 -15 6.5 +0.6
BIBL Inspire ETF 9.1 35 0 6.4 +0.6
ACES ALPS Clean Energy ETF 9.1 65 -30 2.2 -3.7
PBW Invesco WilderHill Clean Energy ETF 8.8 70 -35 -0.6 -6.4
IETC iShares Evolved U.S. Technology ETF 8.8 18 17 5.5 -0.4
VEGN US Vegan Climate ETF 8.8 60 -25 7.2 +1.4
ESPO VanEck Vectors Video Gaming & eSports ETF 8.6 55 -20 3.7 -2.1
XT iShares Exponential Technologies ETF 8.3 47 -12 6.9 +1.0
PSCT Invesco S&P SmallCap Information Technology ETF 8.3 29 6 7.8 +2.0
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 8.2 21 14 4.4 -1.4
JVAL JPMorgan U.S. Value Factor ETF 7.7 12 23 12.1 +6.3
SLT Salt TruBeta High Exposure ETF 7.7 29 6 12.4 +6.6
RNLC Large Cap US Equity Select ETF 7.5 60 -25 8.2 +2.4
ETHO Etho Climate Leadership U.S. ETF 7.5 47 -12 6.8 +0.9
RDVY First Trust Rising Dividend Achievers ETF 7.4 50 -15 10.2 +4.4
FLAG FLAG-Forensic Accounting Long Short ETF 7.3 152 -117 11.8 +6.0
VLUE iShares Edge MSCI USA Value Factor ETF 7.3 15 20 14.6 +8.8
RPG Invesco S&P 500 Pure Growth ETF 7.2 35 0 6.6 +0.8
QMOM Alpha Architect U.S. Quantitative Momentum ETF 7.2 49 -14 5.1 -0.7
DSTL Distillate US Fundamental Stability & Value ETF 7.1 39 -4 7.8 +2.0
PZD Invesco Cleantech ETF 7.0 68 -33 6.6 +0.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 7.0 19 16 7.7 +1.9
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 7.0 48 -13 8.9 +3.1
RNDV US Equity Dividend Select ETF 7.0 50 -15 10.6 +4.8
LRGF iShares Edge MSCI Multifactor USA ETF 6.8 20 15 9.2 +3.4
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 6.7 75 -40 4.1 -1.7
HLAL Wahed FTSE USA Shariah ETF 6.5 50 -15 6.3 +0.5
SPHQ Invesco S&P 500 Quality ETF 6.5 15 20 6.6 +0.7
FMK First Trust Mega Cap AlphaDEX Fund 6.5 70 -35 7.2 +1.4
KNOW Direxion All Cap Insider Sentiment Shares 6.4 59 -24 7.4 +1.6
SPMV Invesco S&P 500 Minimum Variance ETF 6.4 10 25 7.5 +1.7
VYM Vanguard High Dividend Yield Index ETF 6.4 6 29 9.2 +3.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 6.4 49 -14 5.6 -0.3
CACG ClearBridge All Cap Growth ETF 6.2 54 -19 5.8 -0.0
PXQ Invesco Dynamic Networking ETF 6.1 63 -28 4.0 -1.8
KOMP SPDR Kensho New Economies Composite ETF 6.1 20 15 2.8 -3.0
SYLD Cambria Shareholder Yield ETF 6.0 59 -24 15.4 +9.6
DGRW WisdomTree U.S. Quality Dividend Growth Fund 6.0 28 7 8.4 +2.6
DURA VanEck Vectors Morningstar Durable Dividend ETF 6.0 29 6 8.7 +2.9
ROBO Robo Global Robotics & Automation Index ETF 5.9 95 -60 5.3 -0.6
JQUA JPMorgan U.S. Quality Factor ETF 5.9 12 23 6.8 +1.0
VOOG Vanguard S&P 500 Growth ETF 5.9 10 25 5.8 0.0
SPYG SPDR Portfolio S&P 500 Growth ETF 5.9 4 31 5.9 +0.1
IVW iShares S&P 500 Growth ETF 5.9 18 17 5.8 -0.1
NULG Nuveen ESG Large-Cap Growth ETF 5.9 35 0 4.8 -1.0
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 5.8 65 -30 2.6 -3.2
IUSG iShares Core S&P US Growth ETF 5.8 4 31 5.9 +0.1

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 Semiconductor 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 16.3 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.