EDIV
SPDR S&P Emerging Markets Dividend ETF
SPDR S&P Emerging Markets Dividend ETF's objective is to replicate as closely as possible the performance of the S&P Emerging Markets Dividend Opportunities Index.
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 23, 2011 |
| Assets (mns) | $248 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Dividend |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ProShares UltraPro S&P500 | 402.0 % |
| Nifty India Financials ETF | 37.3 % |
| PETROCHINA CO LTD-H | 3.3 % |
| NTPC LIMITED | 3.1 % |
| QUANTA COMPUTER INC | 3.1 % |
| ADVANCED INFO SERVICE PUBLIC CO., LTD. N | 2.9 % |
| HERO HONDA MOTORS LIMITED | 2.6 % |
| SAUDI TELECOM CO. | 2.5 % |
| POWER GRID CORP OF INDIA LTD | 2.3 % |
| CNPC HONG KONG LIMITED | 2.3 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 203,491 |
| Wgt avg mkt cap (mns) | $6,934 |
| Large cap (>$10bn) | 25.3% |
| Mid cap ($2-10bn) | 29.9% |
| Small cap (<$2bn) | 18.6% |
| Developed mkts. | 9.7% |
| Emerging mkts. | 90.3% |
Country Exposure
 |
TAIWAN | 30.4 % |
 |
CHINA | 19.6 % |
 |
HONG KONG | 9.2 % |
 |
INDIA | 8.6 % |
 |
THAILAND | 8.3 % |
 |
QATAR | 3.6 % |
 |
MALAYSIA | 3.3 % |
 |
SAUDI ARABIA | 2.8 % |
 |
CZECH REPUBLIC | 2.0 % |
 |
MEXICO | 1.8 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 28.3% | 26.8% | 4.2% | 10.8% | 3.7% | 1.8% | 0.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.57 | 42% |
| MSCI EAFE | 0.68 | 63% |
| MSCI Emg Mkts | 0.78 | 77% |
Liquidity Measures
| Avg. volume (000) | 35 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $832 |
Technical Indicators
| Recent close | $29.70 |
| 30d moving avg. | $30.29 |
| Annualized volatility | 15.8% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. EDIV |
Expenses vs. EDIV |
ALTAR Score™ vs. EDIV |
|---|---|---|---|---|
| DEM | WisdomTree Emerging Markets High Dividend Fund | 19.0% | +14 bp | +1.9% |
| QLVE | FlexShares Emerging Markets Quality Low Volatility Index Fun | 18.5% | -9 bp | -3.9% |
| EEMV | iShares MSCI Emerging Markets Min Vol Factor ETF | 17.3% | -24 bp | -5.6% |
| FNDE | Schwab Fundamental Emerging Markets Large Co. Index ETF | 17.1% | -10 bp | +0.3% |
| EELV | Invesco S&P Emerging Markets Low Volatility ETF | 16.7% | -20 bp | -3.1% |
| ROAM | Hartford Multifactor Emerging Markets ETF | 15.2% | -5 bp | -0.3% |
| RNEM | First Trust Emerging Markets Equity Select ETF | 14.4% | +26 bp | -4.6% |
| PXH | Invesco FTSE RAFI Emerging Markets ETF | 13.5% | +1 bp | +0.9% |
| EWT | iShares MSCI Taiwan ETF | 13.3% | +8 bp | -6.0% |
| FXI | iShares China Large-Cap ETF | 12.7% | +25 bp | +0.7% |
Risk and Returns: EDIV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/28/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
EDIV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
EDIV
12.9%
Cat. Avg
7.8%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 12.9% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 186 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. EDIV's ALTAR Score™ is approximately
1.2 standard deviations
above
the category average. This places EDIV in the 89th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
EDIV
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| EDIV | 49.0 | 31.4 | 80.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .