SPDR S&P Semiconductor ETF
ALTAR
Score™
4.0% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
32.9x P/Sales
ratio
3.7x
P/BV
ratio
3.9x Div.
yield
0.9%


  • 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) $507
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) $38,163
Large cap (>$10bn) 46.8%
Mid cap ($2-10bn) 39.2%
Small cap (<$2bn) 14.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MONOLITHIC POWER SYSTEMS INC 3.3 %
LATTICE SEMICONDUCTOR CORP 3.3 %
INPHI CORP 3.2 %
QUALCOMM INC 3.2 %
NVIDIA CORP 3.2 %
MAXIM INTEGRATED PRODUCTS 3.2 %
POWER INTEGRATIONS INC 3.2 %
SUNPOWER CORP 3.2 %
XILINX INC 3.2 %
BROADCOM INC. 3.2 %
Total 32.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
BERMUDA 3.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
6.0% 33.4% 6.2% 11.1% 6.0%

Market Correlations
versus... Beta R-squared
S&P500 1.36 77%
MSCI EAFE 1.27 58%
MSCI Emg. Mkts. 0.99 56%

Technical Indicators
Recent close $114.59
30d moving avg. $110.26
Annualized volatility 26.4%
Short interest (ETF) 6.0%
Short interest (Underlying) 6.6%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 59
Turnover 1.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $20,348

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™: 4.0%


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 54.8 60 -25 4.9 +0.9
PSI Invesco Dynamic Semiconductors ETF 45.3 58 -23 4.7 +0.7
SOXX iShares PHLX Semiconductor ETF 45.1 46 -11 5.2 +1.2
SMH VanEck Vectors Semiconductor ETF 38.7 35 0 5.4 +1.4
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 28.9 57 -22 4.8 +0.8
TDV ProShares S&P Technology Dividend Aristocrats ETF 25.7 45 -10 4.7 +0.7
FIVG Defiance Next Gen Connectivity ETF 23.7 30 5 4.7 +0.7
DRIV Global X Autonomous & Electric Vehicles ETF 22.3 68 -33 5.4 +1.3
JHMT John Hancock Multifactor Technology ETF 22.1 40 -5 4.9 +0.9
XNTK SPDR NYSE Technology ETF 19.5 35 0 3.6 -0.4
QTUM Defiance Quantum ETF 18.9 40 -5 5.6 +1.6
IDRV iShares Self-driving EV & Tech ETF 18.8 47 -12 6.9 +2.9
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 18.5 70 -35 7.5 +3.5
RYT Invesco S&P 500 Equal Weight Technology ETF 18.3 40 -5 6.7 +2.7
MOTO SmartETFs Smart Transportation & Technology ETF 17.5 68 -33 7.5 +3.5
TDIV First Trust NASDAQ Technology Dividend Index Fund 16.4 50 -15 5.7 +1.7
NXTG First Trust Indxx NextG ETF 16.1 70 -35 6.1 +2.1
IYW iShares U.S. Technology ETF 15.6 42 -7 4.0 -0.1
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 15.5 60 -25 0.3 -3.7
GDAT Goldman Sachs Motif Data-Driven World Etf 15.2 50 -15 4.9 +0.9
GEX VanEck Vectors Global Alternative Energy ETF 14.8 62 -27 4.4 +0.4
XLK Technology Select Sector SPDR Fund 14.8 13 22 4.7 +0.7
SNSR Global X Internet of Things Thematic ETF 14.7 68 -33 4.4 +0.4
FTEC Fidelity MSCI Information Technology Index ETF 14.3 8 27 4.5 +0.5
EKAR Innovation Shares NextGen Vehicles & Technology ETF 14.3 95 -60 8.2 +4.2
VGT Vanguard Information Technology Index Fund 14.2 10 25 4.5 +0.5
AIQ Global X Future Analytics Tech ETF 13.6 68 -33 3.8 -0.2
PEXL Pacer US Export Leaders ETF 12.8 60 -25 6.0 +2.0
TECB iShares US Tech Breakthrough Multisector ETF 12.5 40 -5 4.0 -0.0
KOIN Innovation Shares NextGen Protocol ETF 12.4 95 -60 4.3 +0.3
VSL Volshares Large Capital ETF 12.4 65 -30 6.9 +2.9
IXN iShares Global Tech ETF 12.3 46 -11 4.4 +0.4
LRNZ TrueMark Technology, AI & Deep Learning ETF 12.3 68 -33 0.8 -3.2
IGM iShares Expanded Tech Sector ETF 12.3 46 -11 3.7 -0.3
IRBO iShares Robotics & Artificial Intelligence ETF 12.1 47 -12 2.7 -1.4
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 11.9 59 -24 4.1 +0.1
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 11.9 35 0 4.3 +0.3
PTF Invesco DWA Technology Momentum ETF 11.4 60 -25 1.2 -2.8
BUL Pacer US Cash Cows Growth ETF 10.9 60 -25 6.1 +2.1
QMOM Alpha Architect U.S. Quantitative Momentum ETF 10.7 49 -14 2.1 -1.9
NUSI Nationwide Risk-Managed Income ETF 10.7 68 -33 3.4 -0.6
QYLD Global X NASDAQ 100 Covered Call ETF 10.6 60 -25 3.5 -0.5
LEGR First Trust Index Digital Transaction & Process Technology E 10.6 65 -30 7.1 +3.0
RNDV US Equity Dividend Select ETF 10.6 50 -15 7.6 +3.6
PSCT Invesco S&P SmallCap Information Technology ETF 10.6 29 6 5.6 +1.5
QQQ Invesco QQQ Trust 10.3 20 15 3.8 -0.2
VEGN US Vegan Climate ETF 10.2 60 -25 5.1 +1.1
ACES ALPS Clean Energy ETF 10.1 65 -30 0.9 -3.1
EQRR ProShares Equities for Rising Rates ETF 10.0 35 0 6.1 +2.1
PBW Invesco WilderHill Clean Energy ETF 9.9 70 -35 -4.0 -8.0
SPHQ Invesco S&P 500 Quality ETF 9.7 15 20 4.6 +0.6
XKST SPDR Kensho Smart Mobility ETF 9.4 45 -10 5.1 +1.1
FXL First Trust Technology AlphaDEX Fund 9.2 61 -26 3.1 -0.9
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 9.1 60 -25 5.4 +1.4
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 9.0 50 -15 3.9 -0.1
PXQ Invesco Dynamic Networking ETF 8.7 63 -28 4.0 -0.0
LOUP Innovator Loup Frontier Tech ETF 8.7 70 -35 3.8 -0.2
RNLC Large Cap US Equity Select ETF 8.7 60 -25 6.2 +2.2
XT iShares Exponential Technologies ETF 8.3 47 -12 5.0 +1.0
IETC iShares Evolved U.S. Technology ETF 8.3 18 17 3.8 -0.3
RFDA RiverFront Dynamic US Dividend Advantage ETF 8.2 52 -17 5.0 +1.0
ETHO Etho Climate Leadership U.S. ETF 8.1 47 -12 4.4 +0.3
SIMS SPDR S&P Kensho Intelligent Structures ETF 8.1 45 -10 5.9 +1.9
JVAL JPMorgan U.S. Value Factor ETF 8.0 12 23 8.7 +4.7
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.0 68 -33 4.0 -0.0
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 7.8 99 -64 2.3 -1.7
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 7.8 21 14 2.9 -1.1
PWV Invesco Dynamic Large Cap Value ETF 7.7 55 -20 8.8 +4.8
MTUM iShares Edge MSCI USA Momentum Factor ETF 7.5 15 20 4.1 +0.1
SCHD Schwab U.S. Dividend Equity ETF 7.5 6 29 8.2 +4.2
DSTL Distillate US Fundamental Stability & Value ETF 7.2 39 -4 6.5 +2.5
JKE iShares Morningstar Large-Cap Growth ETF 7.1 25 10 2.8 -1.2
VLUE iShares Edge MSCI USA Value Factor ETF 7.1 15 20 11.3 +7.3
RPG Invesco S&P 500 Pure Growth ETF 7.0 35 0 4.3 +0.3
LRGF iShares Edge MSCI Multifactor USA ETF 7.0 20 15 7.3 +3.3
CACG ClearBridge All Cap Growth ETF 7.0 54 -19 4.3 +0.3
QGRO American Century STOXX U.S. Quality Growth ETF 6.9 29 6 3.1 -0.9
SPMV Invesco S&P 500 Minimum Variance ETF 6.9 10 25 5.8 +1.8
VYM Vanguard High Dividend Yield Index ETF 6.8 6 29 7.4 +3.3
DURA VanEck Vectors Morningstar Durable Dividend ETF 6.7 29 6 7.2 +3.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 6.7 19 16 5.6 +1.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 6.7 49 -14 4.1 +0.1
FMK First Trust Mega Cap AlphaDEX Fund 6.6 70 -35 5.1 +1.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 6.5 28 7 6.4 +2.4
DHS WisdomTree U.S. High Dividend Fund 6.4 38 -3 8.6 +4.6
PZD Invesco Cleantech ETF 6.3 68 -33 4.7 +0.7
JQUA JPMorgan U.S. Quality Factor ETF 6.3 12 23 5.2 +1.2
SYG SPDR MFS Systematic Growth Equity ETF 6.2 60 -25 4.3 +0.2
HLAL Wahed FTSE USA Shariah ETF 6.2 50 -15 4.6 +0.6
TAN Invesco Solar ETF 6.2 71 -36 1.7 -2.4
FFTY Innovator IBD 50 ETF 6.2 80 -45 3.4 -0.6
ESPO VanEck Vectors Video Gaming & eSports ETF 6.2 55 -20 2.7 -1.3
RDVY First Trust Rising Dividend Achievers ETF 6.2 50 -15 7.9 +3.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 6.1 15 20 6.2 +2.1
USDY Pacific Global US Equity Income ETF 6.0 29 6 7.2 +3.2
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 6.0 49 -14 5.1 +1.1
JKF iShares Morningstar Large Cap Value ETF 6.0 25 10 7.6 +3.6
SPMO Invesco S&P 500 Momentum ETF 6.0 13 22 4.4 +0.4
FDRR Fidelity Dividend ETF for Rising Rates 6.0 29 6 7.0 +2.9
VOOG Vanguard S&P 500 Growth ETF 5.9 10 25 4.2 +0.2

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 15.7 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.