Technology Select Sector SPDR
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2017E    2018E
P/E
ratio
18.1x P/Sales
ratio
3.4x
P/BV
ratio
3.8x 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) $16,621
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 71
Wgt avg mkt cap (mns) $319,936
Large cap (>$10bn) 99.2%
Mid cap ($2-10bn) 0.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 15.0 %
MICROSOFT CORP 10.2 %
FACEBOOK 6.7 %
AT&T INC 5.2 %
ALPHABET INC. CLASS A 5.0 %
ALPHABET INC. CLASS C 4.9 %
CISCO SYSTEMS INC 3.5 %
VERIZON COMMUNICATIONS INC 3.4 %
INTEL CORP 3.4 %
VISA INC-CLASS A SHARES 3.4 %
Total 60.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.6 %
IRELAND 1.8 %
SWITZERLAND 0.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
8.3% 30.1% 14.7% 10.3% 3.8%

Market Correlations
versus... Beta R-squared
S&P500 1.13 78%
MSCI EAFE 0.85 60%
MSCI Emg. Mkts. 0.50 37%

Technical Indicators
Recent close $52.84
Annualized volatility 13.3%
Short Interest (ETF) 9.7%
Short Interest (Underlying) 1.9%
Tracking Error 0.00
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 53
Turnover 0.0%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $36,149

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™: 6.1%


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 85.1 10 4 5.8 -0.2
FTEC Fidelity Info Technology 84.9 12 2 5.8 -0.3
IXN iShares S&P Global Technology 78.6 48 -34 5.7 -0.4
IGM iShares S&P N. American Technology 76.6 48 -34 4.9 -1.2
IYW iShares DJ US Technology Sector 76.4 45 -31 5.5 -0.6
JHMT John Hancock Multifactor Technology 55.9 50 -36 5.3 -0.8
QQQ PowerShares QQQ 55.4 20 -6 5.6 -0.5
QYLD Recon Capital NASDAQ-100 Covered Call 55.0 60 -46 5.2 -0.8
TCHF iShares Edge MSCI Multifactor Technology 50.1 35 -21 5.8 -0.3
TDIV First Trust NASDAQ Technology Dividend 46.8 50 -36 6.5 +0.4
RYT Guggenheim S&P Equal Weight Technology 44.6 40 -26 5.6 -0.5
ONEQ Fidelity NASDAQ Composite 39.5 26 -12 4.7 -1.4
MTK SPDR Morgan Stanley Technology 38.0 35 -21 4.8 -1.3
IWY iShares Russell Top 200 Growth 36.7 20 -6 5.7 -0.4
XLG Guggenheim S&P Top 50 35.1 20 -6 5.9 -0.2
VOOG Vanguard S&P 500 Growth ETF 35.1 15 -1 5.5 -0.6
SPYG SPDR S&P500 Growth 35.1 15 -1 5.4 -0.7
IVW iShares S&P 500 Growth 35.0 18 -4 5.3 -0.7
JKE iShares Morningstar Large Cap Growth 33.3 25 -11 4.7 -1.3
QTEC First Trust NASDAQ 100 Tech 32.7 60 -46 5.2 -0.8

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:

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 22.9 %
Divided by: Fwd. P/BV 3.7 x
Less: Expense ratio 14 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 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.