EFAX
SPDR MSCI EAFE Fossil Fuel Free ETF
The SPDR MSCI EAFE Fossil Fuel Reserves Free ETF tracks a subset of the MSCI EAFE Index that excludes companies that own fossil fuel reserves.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
369.9 M
ASSETS UNDER MGMT
20 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 24, 2016 |
| Assets (mns) | $370 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| SAP AG | 1.9 % |
| ASML HOLDING NV | 1.7 % |
| SSI US GOV MONEY MARKET CLASS | 1.6 % |
| NESTLE SA-REG | 1.6 % |
| NOVO NORDISK A/S-B | 1.4 % |
| ROCHE HOLDING LTD | 1.3 % |
| ASTRAZENECA PLC | 1.3 % |
| NOVARTIS AG | 1.3 % |
| HSBC HOLDINGS PLC | 1.2 % |
| COMMONWEALTH BANK OF AUSTRAL | 1.1 % |
Constituent Breakdown
| Number of holdings | 659 |
| Herfindahl-Hirschman Index | 47 |
| Wgt avg mkt cap (mns) | $87,168 |
| Large cap (>$10bn) | 91.1% |
| Mid cap ($2-10bn) | 6.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 97.7% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
JAPAN | 21.2 % |
 |
BRITAIN | 13.0 % |
 |
GERMANY | 10.8 % |
 |
SWITZERLAND | 10.5 % |
 |
FRANCE | 9.9 % |
 |
AUSTRALIA | 5.9 % |
 |
NETHERLANDS | 5.4 % |
 |
SPAIN | 3.4 % |
 |
SWEDEN | 3.2 % |
 |
ITALY | 3.0 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 18.1% | 11.9% | 13.2% | 9.0% | 8.3% | -- | -- | 5.3% |
| Dividend Yield | 0.0% | 3.0% | 3.1% | 3.0% | 2.8% | -- | -- | 2.7% |
| Total Returns | 18.1% | 14.9% | 16.3% | 12.0% | 11.1% | -- | -- | 8.0% | Ann. Volatility | 22.1% | 17.7% | 15.4% | 16.9% | 16.8% | -- | -- | 17.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.51 | 7% |
| MSCI EAFE | 0.43 | 6% |
| MSCI Emg Mkts | 0.27 | 2% |
Liquidity Measures
| Avg. volume (000) | 14 |
| ADV traded (mns) | $1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.30% |
Technical Indicators
| Recent close | $46.23 |
| 30d moving avg. | $45.99 |
| Annualized volatility | 32.0% |
| Relative strength (RSI) | 59 |
| Short interest | 0.2% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| EFA | iShares MSCI EAFE ETF | 91.8% | +15 bp | +6.9% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 83.3% | +16 bp | +6.7% |
| HFXI | IQ FTSE International Equity Currency Neutral ETF | 79.1% | 0 bp | +7.2% |
| IEFA | iShares Core MSCI EAFE ETF | 78.6% | -13 bp | +7.2% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 78.4% | 0 bp | +7.0% |
| STXI | Strive International Developed Markets ETF | 71.8% | +9 bp | +6.9% |
| BKIE | BNY Mellon International Equity ETF | 71.4% | -16 bp | +7.1% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 70.1% | -16 bp | +7.1% |
| ESGD | iShares ESG Aware MSCI EAFE ETF | 68.8% | 0 bp | +6.9% |
| SCHF | Schwab International Equity ETF | 67.3% | -14 bp | +7.4% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 6/15/2025
Peer Group Comparison Sample data. Subscribe for access.
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
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 Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
6.6%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 258 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
1.9%. 's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places in the 35th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EFAXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| (20 bp) Percentile rank | 18 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 20.0 | 0.0 | 20 | |
| Peer Avg. | 35.0 | 18.9 | 53.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .