Technology Select Sector SPDR
ALTAR
Score™
6.0% info Recommen-
dation
UNDERWEIGHT
2017E    2018E
P/E
ratio
18.4x P/Sales
ratio
3.5x
P/BV
ratio
4.0x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Select Sector SPDRŽ holding S&P 500 stocks in the Technology sector. Component industries include Semiconductors & Semi Equipment; Software & Services; Tech Hardware & Equipment; and Telecommunication Services. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index. For product information and a prospectus visit www.sectorspdr.com.

FUND BASICS
Category Sector ETFs
Fund Sponsor State Street Global Advisors
Website www.sectorspdrs.com
Inception date Dec 22, 1998
Assets (mns) $17,228
Currency USD
Expense ratio 14 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 73
Wgt avg mkt cap (mns) $339,309
Large cap (>$10bn) 98.8%
Mid cap ($2-10bn) 0.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 14.8 %
MICROSOFT CORP 10.4 %
FACEBOOK 6.9 %
ALPHABET INC. CLASS A 5.4 %
ALPHABET INC. CLASS C 5.3 %
AT&T INC 4.8 %
INTEL CORP 3.4 %
CISCO SYSTEMS INC 3.4 %
VISA INC-CLASS A SHARES 3.3 %
VERIZON COMMUNICATIONS INC 3.0 %
Total 60.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.5 %
IRELAND 1.8 %
SWITZERLAND 0.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
12.9% 31.3% 14.9% 10.1% 4.0%

Market Correlations
versus... Beta R-squared
S&P500 1.13 78%
MSCI EAFE 0.84 60%
MSCI Emg. Mkts. 0.51 38%

Technical Indicators
Recent close $54.38
Annualized volatility 13.3%
Short Interest (ETF) 8.9%
Short Interest (Underlying) 1.9%
Tracking Error 0.00
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 53
Turnover 0.0%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $28,260

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XLK Expense: 14 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLK
Ticker Fund
Name
Overlap1
vs XLK
(%)
Expense
ratio
(bp)
Savings
vs XLK
(bp)
ALTAR
Score™
(%)
ALTAR
vs XLK
(%)
VGT Vanguard Info Tech ETF 86.1 10 4 5.8 -0.2
FTEC Fidelity Info Technology 86.1 12 2 5.7 -0.3
IXN iShares S&P Global Technology 78.0 48 -34 5.6 -0.4
IYW iShares DJ US Technology Sector 77.5 45 -31 5.4 -0.6
IGM iShares S&P N. American Technology 77.0 48 -34 4.8 -1.2
JHMT John Hancock Multifactor Technology 58.1 50 -36 5.4 -0.5
QYLD Recon Capital NASDAQ-100 Covered Call 56.5 60 -46 5.1 -0.9
QQQ PowerShares QQQ 56.2 20 -6 5.4 -0.5
TCHF iShares Edge MSCI Multifactor Technology 52.0 35 -21 5.8 -0.2
TDIV First Trust NASDAQ Technology Dividend 45.1 50 -36 6.6 +0.7
RYT Guggenheim S&P Equal Weight Technology 44.8 40 -26 5.4 -0.6
ONEQ Fidelity NASDAQ Composite 40.4 26 -12 4.5 -1.5
MTK SPDR Morgan Stanley Technology 37.5 35 -21 4.6 -1.3
IWY iShares Russell Top 200 Growth 37.4 20 -6 5.6 -0.4
XLG Guggenheim S&P Top 50 36.1 20 -6 5.8 -0.2
SPYG SPDR S&P500 Growth 36.0 15 -1 5.3 -0.7
VOOG Vanguard S&P 500 Growth ETF 36.0 15 -1 5.4 -0.6
IVW iShares S&P 500 Growth 35.9 18 -4 5.2 -0.7
JKE iShares Morningstar Large Cap Growth 34.3 25 -11 4.6 -1.4
QTEC First Trust NASDAQ 100 Tech 33.8 60 -46 5.3 -0.6

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

  2012 2013 2014 2015 2016 2017E 2018E
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
  2016 2017E 2018E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Technology Select Sector SPDR
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 above 3.0% but below 6.0%. 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 23.0 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 14 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.58
 
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.