S&P 500 SPDR
ALTAR
Score™
6.9% info Recommen-
dation
NEUTRAL
2014E    2015E
P/E
ratio
16.1x P/Sales
ratio
1.7x
P/BV
ratio
2.4x Div.
yield
2.0%


  • Description
  • Performance
  • premium Fundamentals
  • premium Valuation
  • Rating
Standard & Poor's Depositary Receipts, represent ownership in a unit investment trust established to accumulate and hold a portfolio of the equity securities that comprise the Standard & Poor's 500 Composite Stock Price Index. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index.

FUND BASICS
Category Traditional Indices
Fund Sponsor State Street Global Advisors
Website www.amex.com
Inception date Jan 29, 1993
Assets (mns) $172,294
Currency USD
Expense ratio 9 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Unit Investment Trust
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 501
Wgt avg mkt cap (mns) $129,921
Median mkt cap (mns) $15,085
Large cap (>$10bn) 95.0%
Mid cap ($2-10bn) 5.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 3.4 %
EXXON MOBIL CORP 2.5 %
MICROSOFT CORP 1.9 %
JOHNSON & JOHNSON 1.7 %
GENERAL ELECTRIC CO 1.5 %
CHEVRON CORP 1.4 %
WELLS FARGO & CO 1.4 %
BERKSHIRE HATHAWAY INC-CL B 1.3 %
JPMORGAN CHASE & CO 1.3 %
PROCTER & GAMBLE CO/THE 1.2 %
Total 17.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
IRELAND 1.1 %
SWITZERLAND 0.6 %
BRITAIN 0.4 %
SINGAPORE 0.1 %
HONG KONG 0.1 %
BERMUDA 0.0 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
5.5% 16.7% 16.7% 7.9% 9.2%

Market Correlations
versus... Beta R-squared
S&P500 1.00 99%
MSCI EAFE 0.65 76%
MSCI Emg. Mkts. 0.50 64%

Technical Indicators
Recent close $192.50
Net asset value $192.48
Premium / Discount 0.0 %
Annualized volatility 12.3 %
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 81,955
Turnover 9.2 %
Bid/Ask (% of price) 0.01
ADV underlying (mns) $577,603

Distributions


Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2009 2010 2011 2012 2013 2014E 2015E
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
  2013 2014E 2015E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
S&P 500 SPDR
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 between 6.0% and 8.0%. This indicates that valuations adequately reflect the fundamentals of stocks in these funds. The majority of funds we cover fall into this category.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.9 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

 

 

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.