SPDR S&P Technology Hardware ETF
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
25.9x P/Sales
ratio
1.3x
P/BV
ratio
2.9x Div.
yield
1.5%


  • 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) $70,051
Large cap (>$10bn) 34.6%
Mid cap ($2-10bn) 47.0%
Small cap (<$2bn) 18.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
II-VI INC 5.4 %
APPLE INC 4.1 %
PURE STORAGE, INC. CLASS A 3.8 %
COGNEX CORP 3.7 %
ZEBRA TECHNOLOGIES CORP-CL A 3.6 %
DELL TECHNOLOGIES INC CLASS V 3.6 %
KEYSIGHT TECHNOLOGIES INC 3.6 %
TRIMBLE NAVIGATION LTD 3.5 %
FITBIT INC CLASS A 3.5 %
COHERENT INC 3.3 %
Total 38.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
IRELAND 3.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.2% 4.9% -- -- 11.3%

Market Correlations
versus... Beta R-squared
S&P500 1.34 88%
MSCI EAFE 1.34 75%
MSCI Emg. Mkts. 0.97 60%

Technical Indicators
Recent close $71.14
30d moving avg. $67.79
Annualized volatility 24.2%
Short interest (ETF) 2.3%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 2
Turnover 4.0%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $13,929

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR S&P Technology Hardware ETF 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™: 5.4%


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
(%)
TDV ProShares S&P Technology Dividend Aristocrats ETF 20.3 45 -10 4.6 -0.7
RYT Invesco S&P 500 Equal Weight Technology ETF 16.8 40 -5 7.3 +1.9
JHMT John Hancock Multifactor Technology ETF 14.0 40 -5 5.1 -0.3
LOUP Innovator Loup Frontier Tech ETF 12.7 70 -35 3.1 -2.3
PSCT Invesco S&P SmallCap Information Technology ETF 11.8 29 6 5.4 +0.1
ROBO Robo Global Robotics & Automation Index ETF 10.0 95 -60 3.4 -2.0
IQM Franklin Intelligent Machines ETF 9.4 50 -15 2.2 -3.2
PRNT The 3D Printing ETF 9.4 66 -31 1.1 -4.3
PXQ Invesco Dynamic Networking ETF 9.3 63 -28 2.8 -2.6
RNDV US Equity Dividend Select ETF 8.2 50 -15 7.4 +2.1
QTUM Defiance Quantum ETF 8.2 40 -5 5.3 -0.0
TDIV First Trust NASDAQ Technology Dividend Index Fund 8.0 50 -15 5.7 +0.4
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 7.7 15 20 6.2 +0.9
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 7.6 65 -30 3.8 -1.6
FDRR Fidelity Dividend ETF for Rising Rates 7.5 29 6 6.9 +1.5
FITE SPDR Kensho Future Security ETF 7.3 45 -10 3.7 -1.7
VGT Vanguard Information Technology Index Fund 7.3 10 25 4.8 -0.5
FTEC Fidelity MSCI Information Technology Index ETF 7.3 8 27 4.9 -0.5
ARKQ Ark Industrial Innovation ETF 7.2 75 -40 0.7 -4.6
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 7.2 57 -22 5.0 -0.3
DSTL Distillate US Fundamental Stability & Value ETF 7.1 39 -4 6.4 +1.1
GDAT Goldman Sachs Motif Data-Driven World Etf 7.0 50 -15 5.2 -0.2
FIVG Defiance Next Gen Connectivity ETF 6.9 30 5 4.6 -0.8
XKII SPDR Kensho Intelligent Structures ETF 6.8 45 -10 6.0 +0.6
FXL First Trust Technology AlphaDEX Fund 6.8 61 -26 3.3 -2.0
IGM iShares North American Tech ETF 6.8 46 -11 4.0 -1.3
PZD Invesco Cleantech ETF 6.7 68 -33 4.7 -0.7
ACSI American Customer Satisfaction Core Alpha ETF 6.6 66 -31 5.9 +0.5
XLK Technology Select Sector SPDR Fund 6.6 13 22 5.0 -0.3
DIVB iShares U.S. Dividend & Buyback ETF 6.5 25 10 6.3 +1.0
EQRR ProShares Equities for Rising Rates ETF 6.4 35 0 5.8 +0.4
BUL Pacer US Cash Cows Growth ETF 6.4 60 -25 5.4 +0.1
KOMP SPDR Kensho New Economies Composite ETF 6.4 20 15 1.6 -3.8
NUMG Nuveen ESG Mid-Cap Growth ETF 6.4 40 -5 3.2 -2.2
PEXL Pacer US Export Leaders ETF 6.3 60 -25 6.1 +0.7
ALFA AlphaClone Alternative Alpha ETF 6.3 65 -30 3.8 -1.6
LRGF iShares Edge MSCI Multifactor USA ETF 6.2 20 15 6.9 +1.6
IXN iShares Global Tech ETF 6.1 46 -11 4.8 -0.5
PKW Invesco Buyback Achievers ETF 6.0 62 -27 6.6 +1.2
VALQ American Century STOXX U.S. Quality Value ETF 6.0 29 6 8.6 +3.3
XKST SPDR Kensho Smart Mobility ETF 6.0 45 -10 2.3 -3.1
ONEY SPDR Russell 1000 Yield Focus ETF 6.0 20 15 8.0 +2.7
RDVY First Trust Rising Dividend Achievers ETF 6.0 50 -15 7.5 +2.1
KRMA Global X Conscious Companies ETF 6.0 43 -8 5.2 -0.1
DRIV Global X Autonomous & Electric Vehicles ETF 5.9 68 -33 5.8 +0.5
FDVV Fidelity Core Dividend ETF 5.9 29 6 7.1 +1.8
IUS Invesco Strategic US ETF 5.7 19 16 6.2 +0.8
TECB iShares US Tech Breakthrough Multisector ETF 5.6 40 -5 4.1 -1.2
SPYB SPDR S&P 500 Buyback ETF 5.6 35 0 9.5 +4.1
QDF FlexShares Quality Dividend Index Fund 5.6 37 -2 6.8 +1.4
JKI iShares Morningstar Mid-Cap Value ETF 5.6 30 5 9.1 +3.7
COWZ Pacer US Cash Cows 100 ETF 5.6 49 -14 9.4 +4.0
IYW iShares U.S. Technology ETF 5.6 42 -7 4.4 -1.0
FTHI First Trust High Income ETF 5.5 85 -50 5.4 +0.1
IETC iShares Evolved U.S. Technology ETF 5.4 18 17 4.1 -1.2
CACG ClearBridge All Cap Growth ETF 5.4 54 -19 4.5 -0.9
SUSA iShares MSCI USA ESG Select ETF 5.4 25 10 4.8 -0.6
HLAL Wahed FTSE USA Shariah ETF 5.4 50 -15 4.6 -0.7
AFLG First Trust Active Factor Large Cap ETF 5.3 55 -20 5.6 +0.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 5.3 25 10 6.4 +1.0
IRBO iShares Robotics & Artificial Intelligence ETF 5.3 47 -12 2.6 -2.8
PWC Invesco Dynamic Market ETF 5.2 59 -24 6.9 +1.6
LSAF LeaderShares AlphaFactor US Core Equity ETF 5.2 75 -40 7.1 +1.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 5.2 25 10 6.4 +1.1
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 5.2 60 -25 0.6 -4.8
SNSR Global X Internet of Things Thematic ETF 5.2 68 -33 4.7 -0.7
MOTO SmartETFs Smart Transportation & Technology ETF 5.2 68 -33 8.0 +2.7
FTLB First Trust Hedged BuyWrite Income ETF 5.1 85 -50 5.5 +0.2
EXT WisdomTree U.S. Total Earnings Fund 5.1 28 7 5.7 +0.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 5.1 70 -35 4.3 -1.1
QDYN FlexShares Quality Dividend Dynamic Index Fund 5.1 37 -2 6.7 +1.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 5.0 19 16 5.6 +0.3
VTI Vanguard Total Stock Market Index Fund 4.9 3 32 5.2 -0.2
ESGU iShares MSCI USA ESG Optimized ETF 4.9 15 20 5.1 -0.2
BVAL Brand Value ETF 4.9 65 -30 5.9 +0.5
AVUS Avantis U.S. Equity ETF 4.9 15 20 5.7 +0.4
SCHB Schwab U.S. Broad Market ETF 4.9 3 32 5.3 -0.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 4.9 3 32 5.2 -0.2
SPTM SPDR Portfolio Total Stock Market ETF 4.9 3 32 5.6 +0.2
SKYY First Trust Cloud Computing ETF 4.9 60 -25 2.0 -3.4
SPXV ProShares S&P 500 Ex-Health Care ETF 4.9 27 8 5.1 -0.2
IUSG iShares Core S&P US Growth ETF 4.9 4 31 4.5 -0.9
IYY iShares Dow Jones U.S. ETF 4.9 20 15 5.2 -0.2
IWV iShares Russell 3000 ETF 4.9 20 15 5.1 -0.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 4.9 60 -25 4.6 -0.8
VTHR Vanguard Russell 3000 Index Fund 4.9 10 25 5.2 -0.2
SCHK Schwab 1000 Index ETF 4.9 5 30 5.3 -0.0
SPXN ProShares S&P 500 Ex-Financials ETF 4.9 27 8 5.1 -0.3
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 4.9 21 14 3.2 -2.2
ESG FlexShares STOXX US ESG Impact Index Fund 4.9 32 3 5.2 -0.2
ESGV Vanguard ESG U.S. Stock ETF 4.9 12 23 5.3 -0.1
PBUS Invesco PureBeta MSCI USA ETF 4.9 4 31 5.3 -0.0
IWB iShares Russell 1000 ETF 4.9 15 20 5.2 -0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 4.9 9 26 5.6 +0.2
SCHX Schwab U.S. Large-Cap ETF 4.8 3 32 5.4 -0.0
VONE Vanguard Russell 1000 ETF 4.8 8 27 5.3 -0.0
SYLD Cambria Shareholder Yield ETF 4.8 59 -24 8.5 +3.2
PBP Invesco S&P 500 BuyWrite ETF 4.8 49 -14 5.1 -0.3
VEGN US Vegan Climate ETF 4.8 60 -25 5.3 -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 Technology Hardware 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 15.3 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.53
 
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.