SPDR S&P Technology Hardware
ALTAR
Score™
5.6% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.5x P/Sales
ratio
1.4x
P/BV
ratio
2.9x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SPDR S&P Technology Hardware ETF tracks an equal-weighted index of technology hardware, equipment, and components companies, as defined by GICS.

FUND BASICS
Category US Equities
Fund Sponsor SSGA
Website www.spdrs.com
Inception date Jun 27, 2016
Assets (mns) $4
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 38
Wgt avg mkt cap (mns) $52,690
Large cap (>$10bn) 37.0%
Mid cap ($2-10bn) 45.0%
Small cap (<$2bn) 18.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FITBIT INC CLASS A 5.5 %
XEROX CORP 3.7 %
APPLE INC 3.5 %
ZEBRA TECHNOLOGIES CORP-CL A 3.5 %
HEWLETT PACKARD ENTERPRISE CO. 3.3 %
VISHAY INTERTECHNOLOGY INC 3.2 %
AMPHENOL CORP-CL A 3.2 %
PURE STORAGE, INC. CLASS A 3.1 %
COGNEX CORP 3.1 %
KEYSIGHT TECHNOLOGIES INC 3.1 %
Total 35.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.0 %
IRELAND 3.1 %









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.
28.3% 14.2% -- -- 16.7%

Market Correlations
versus... Beta R-squared
S&P500 1.52 84%
MSCI EAFE 1.31 53%
MSCI Emg. Mkts. 0.85 37%

Technical Indicators
Recent close $80.49
30d moving avg. $77.55
Annualized volatility 20.0%
Short interest (ETF) 0.2%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $8,749

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XTH Expense: 35 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XTH
Ticker Fund
Name
Overlap1
vs XTH
(%)
Expense
ratio
(bp)
Savings
vs XTH
(bp)
ALTAR
Score™
(%)
ALTAR
vs XTH
(%)
RYT Invesco S&P Equal Weight Technology 16.5 40 -5 6.6 +0.9
JHMT John Hancock Multifactor Technology 15.8 40 -5 6.0 +0.4
PSCT Invesco S&P Small Cap Information Technology 13.1 29 6 5.4 -0.3
LOUP Innovator Loup Frontier Tech 11.3 70 -35 2.7 -2.9
SPHB Invesco S&P 500 High Beta 9.8 25 10 6.3 +0.7
TDIV First Trust NASDAQ Technology Dividend 9.7 50 -15 6.6 +1.0
PXQ Invesco Dynamic Networking 9.5 63 -28 4.1 -1.5
ROBO Robo Global Robotics & Automation 9.5 95 -60 3.7 -1.9
FXL First Trust Technology Alphadex 9.5 63 -28 5.6 -0.0
QTUM Defiance Quantum 9.3 40 -5 6.4 +0.8
PRNT 3D Printing 9.1 66 -31 -0.3 -6.0
ACIO Aptus Collared Income Opportunity 8.8 79 -44 6.8 +1.1
ROBT First Trust Nasdaq Artificial Intelligence & Robotics 8.6 65 -30 2.6 -3.1
RNDV US Equity Dividend Select 8.5 50 -15 7.8 +2.2
FITE SPDR Kensho Future Security 8.1 45 -10 4.1 -1.6
SKYY First Trust Cloud Computing 7.9 60 -25 2.5 -3.2
PEXL Pacer US Export Leaders 7.8 60 -25 6.1 +0.5
QTEC First Trust NASDAQ 100 Tech 7.8 57 -22 6.1 +0.4
FTEC Fidelity MSCI Info Technology 7.7 8 27 5.4 -0.2
GDAT Goldman Sachs Motif Data-Driven World 7.6 50 -15 5.7 +0.0

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Technology Hardware
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 15.1 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.