SPDR S&P Semiconductor ETF
ALTAR
Score™
3.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
38.3x P/Sales
ratio
5.3x
P/BV
ratio
4.9x Div.
yield
0.7%


  • 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 Jan 31, 2006
Assets (mns) $721
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 38
Wgt avg mkt cap (mns) $38,872
Large cap (>$10bn) 48.9%
Mid cap ($2-10bn) 37.5%
Small cap (<$2bn) 13.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SUNPOWER CORP 5.0 %
AMBARELLA INC 3.6 %
CREE INC 3.5 %
LATTICE SEMICONDUCTOR CORP 3.5 %
INPHI CORP 3.4 %
XILINX INC 3.2 %
MICRON TECHNOLOGY INC 3.2 %
MONOLITHIC POWER SYSTEMS INC 3.2 %
MA-COM TECHNOLOGY SOLUTIONS 3.2 %
UNIVERSAL DISPLAY CORP 3.1 %
Total 34.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
NETHERLANDS 2.9 %
BERMUDA 2.7 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
25.6% 41.8% 26.4% 11.3% 7.1%

Market Correlations
versus... Beta R-squared
S&P500 1.26 72%
MSCI EAFE 1.21 55%
MSCI Emg. Mkts. 1.00 58%

Technical Indicators
Recent close $155.84
30d moving avg. $142.19
Annualized volatility 26.4%
Short interest (ETF) 5.4%
Short interest (Underlying) 6.6%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 60
Turnover 1.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $16,802

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 3.5%


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
(%)
FTXL First Trust Nasdaq Semiconductor ETF 49.2 60 -25 3.9 +0.4
SOXX iShares PHLX Semiconductor ETF 43.2 46 -11 4.9 +1.4
SMH VanEck Vectors Semiconductor ETF 40.6 35 0 4.8 +1.3
PSI Invesco Dynamic Semiconductors ETF 38.9 57 -22 4.0 +0.5
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 34.1 57 -22 4.5 +1.0
FIVG Defiance Next Gen Connectivity ETF 26.6 30 5 4.4 +0.9
JHMT John Hancock Multifactor Technology ETF 23.9 40 -5 4.3 +0.8
TDV ProShares S&P Technology Dividend Aristocrats ETF 22.5 46 -11 4.4 +0.9
QTUM Defiance Quantum ETF 21.9 40 -5 4.9 +1.4
XNTK SPDR NYSE Technology ETF 19.9 35 0 3.2 -0.3
NXTG First Trust Indxx NextG ETF 19.4 70 -35 5.5 +2.0
IDRV iShares Self-driving EV & Tech ETF 18.5 47 -12 5.4 +1.9
RYT Invesco S&P 500 Equal Weight Technology ETF 18.1 40 -5 6.0 +2.5
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 18.0 70 -35 3.0 -0.5
WUGI Esoterica NextG Economy ETF 17.8 75 -40 1.3 -2.2
MOTO SmartETFs Smart Transportation & Technology ETF 17.6 68 -33 6.0 +2.5
DRIV Global X Autonomous & Electric Vehicles ETF 17.4 68 -33 4.8 +1.3
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 16.1 60 -25 0.1 -3.4
IYW iShares U.S. Technology ETF 16.1 43 -8 3.6 +0.2
FXL First Trust Technology AlphaDEX Fund 15.8 61 -26 3.6 +0.1
SNSR Global X Internet of Things Thematic ETF 15.2 68 -33 4.4 +0.9
TDIV First Trust NASDAQ Technology Dividend Index Fund 15.1 50 -15 6.2 +2.8
FTEC Fidelity MSCI Information Technology Index ETF 14.7 8 27 4.2 +0.7
XLK Technology Select Sector SPDR Fund 14.7 13 22 4.5 +1.0
VGT Vanguard Information Technology Index Fund 14.5 10 25 4.2 +0.7
GEX VanEck Vectors Global Alternative Energy ETF 13.9 62 -27 2.3 -1.2
AIQ Global X Future Analytics Tech ETF 13.7 68 -33 3.7 +0.3
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 13.5 59 -24 4.0 +0.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 13.5 35 0 4.2 +0.7
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 13.4 75 -40 3.9 +0.4
IRBO iShares Robotics & Artificial Intelligence ETF 12.9 47 -12 2.4 -1.1
IGM iShares Expanded Tech Sector ETF 12.7 46 -11 3.5 +0.0
EKAR Innovation Shares NextGen Vehicles & Technology ETF 12.6 95 -60 5.8 +2.3
KOIN Innovation Shares NextGen Protocol ETF 12.5 95 -60 4.1 +0.6
TECB iShares US Tech Breakthrough Multisector ETF 12.5 40 -5 3.8 +0.3
PEXL Pacer US Export Leaders ETF 12.4 60 -25 5.4 +1.9
IXN iShares Global Tech ETF 12.3 46 -11 4.1 +0.6
ACES ALPS Clean Energy ETF 11.7 65 -30 0.4 -3.1
SPQQ Siren Large Cap Blend Index ETF 11.6 20 15 4.4 +0.9
QYLD Global X NASDAQ 100 Covered Call ETF 11.2 60 -25 3.3 -0.2
NUSI Nationwide Risk-Managed Income ETF 11.1 68 -33 3.5 +0.0
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 11.0 60 -25 3.3 -0.2
QQQM Invesco NASDAQ 100 ETF 10.9 15 20 3.7 +0.2
QQQ Invesco QQQ Trust 10.9 20 15 3.7 +0.2
PSCT Invesco S&P SmallCap Information Technology ETF 10.2 29 6 4.9 +1.4
RNLC Large Cap US Equity Select ETF 9.9 60 -25 5.5 +2.0
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 9.7 99 -64 1.4 -2.1
PTF Invesco DWA Technology Momentum ETF 9.7 60 -25 -0.8 -4.3
ETHO Etho Climate Leadership U.S. ETF 9.6 47 -12 4.0 +0.5
XT iShares Exponential Technologies ETF 9.3 47 -12 4.6 +1.1
XKST SPDR Kensho Smart Mobility ETF 9.3 45 -10 3.6 +0.1
VEGN US Vegan Climate ETF 9.2 60 -25 4.7 +1.2
GBGR Global Beta Momentum-Growth ETF 9.1 29 6 5.1 +1.6
VPN Global X Data Center REITs & Digital Infrastructure ETF 9.1 50 -15 4.7 +1.3
LEGR First Trust Index Digital Transaction & Process Technology E 8.9 65 -30 8.7 +5.2
IETC iShares Evolved U.S. Technology ETF 8.8 18 17 3.6 +0.1
CACG ClearBridge All Cap Growth ETF 8.8 54 -19 4.0 +0.5
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.6 68 -33 5.1 +1.6
PBW Invesco WilderHill Clean Energy ETF 8.6 70 -35 -2.2 -5.7
SPHQ Invesco S&P 500 Quality ETF 8.5 15 20 4.4 +0.9
BTEK BlackRock Future Tech ETF 8.4 88 -53 0.4 -3.1
LRNZ TrueMark Technology, AI & Deep Learning ETF 8.3 68 -33 0.1 -3.4
GVIP Goldman Sachs Hedge Industry VIP ETF 8.3 45 -10 3.4 -0.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 8.2 21 14 2.8 -0.7
FMK First Trust Mega Cap AlphaDEX Fund 7.9 70 -35 4.7 +1.2
LRGE ClearBridge Large Cap Growth ESG ETF 7.9 59 -24 3.5 +0.0
SIMS SPDR S&P Kensho Intelligent Structures ETF 7.7 45 -10 4.8 +1.3
RNDV US Equity Dividend Select ETF 7.7 50 -15 7.7 +4.2
RPG Invesco S&P 500 Pure Growth ETF 7.6 35 0 4.1 +0.6
XKCP SPDR Kensho Clean Power ETF 7.6 45 -10 0.4 -3.1
JVAL JPMorgan U.S. Value Factor ETF 7.6 12 23 7.5 +4.0
JKE iShares Morningstar Large-Cap Growth ETF 7.6 25 10 2.8 -0.7
QQQJ Invesco NASDAQ Next Gen 100 ETF 7.4 15 20 3.3 -0.2
DHS WisdomTree U.S. High Dividend Fund 7.4 38 -3 8.0 +4.5
TAN Invesco Solar ETF 7.3 71 -36 -0.2 -3.7
SPMV Invesco S&P 500 Minimum Variance ETF 7.3 10 25 5.5 +2.0
RFDA RiverFront Dynamic US Dividend Advantage ETF 7.2 52 -17 5.0 +1.5
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.1 49 -14 3.9 +0.4
PZD Invesco Cleantech ETF 7.0 65 -30 3.4 -0.1
VLUE iShares MSCI USA Value Factor ETF 7.0 15 20 10.2 +6.7
VOOG Vanguard S&P 500 Growth ETF 6.7 10 25 4.1 +0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 6.7 15 20 5.8 +2.3
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 6.7 65 -30 2.7 -0.8
DSTL Distillate US Fundamental Stability & Value ETF 6.7 39 -4 5.9 +2.4
JMOM JPMorgan U.S. Momentum Factor ETF 6.7 12 23 3.2 -0.3
JQUA JPMorgan U.S. Quality Factor ETF 6.6 12 23 5.1 +1.6
SYG SPDR MFS Systematic Growth Equity ETF 6.6 60 -25 4.0 +0.5
SPMO Invesco S&P 500 Momentum ETF 6.6 13 22 3.9 +0.4
ARKQ Ark Industrial Innovation ETF 6.6 75 -40 0.4 -3.1
MTUM iShares MSCI USA Momentum Factor ETF 6.6 15 20 4.0 +0.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 6.5 19 16 5.5 +2.0
SPYG SPDR Portfolio S&P 500 Growth ETF 6.5 4 31 4.1 +0.6
IVW iShares S&P 500 Growth ETF 6.5 18 17 4.0 +0.5
LRGF iShares Edge MSCI Multifactor USA ETF 6.4 20 15 6.8 +3.3
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 6.4 60 -25 6.8 +3.3
QGRO American Century STOXX U.S. Quality Growth ETF 6.4 29 6 3.1 -0.4
FDRR Fidelity Dividend ETF for Rising Rates 6.3 29 6 6.3 +2.8
VYM Vanguard High Dividend Yield Index ETF 6.3 6 29 6.9 +3.4

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

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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 16.6 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 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.