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.
Fund Basics
| Fund sponsor | SSGA |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 24, 2016 |
| Assets (mns) | $226 |
| 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 +
| NESTLE SA-REG | 2.3 % |
| ASML HOLDING NV | 2.0 % |
| NOVO NORDISK A/S-B | 1.8 % |
| LVMH MOET HENNESSY LOUIS VUI | 1.7 % |
| ASTRAZENECA PLC | 1.6 % |
| ROCHE HOLDING LTD | 1.6 % |
| NOVARTIS AG | 1.4 % |
| TOYOTA MOTOR CORP | 1.1 % |
| HSBC HOLDINGS PLC | 1.1 % |
| SAP AG | 1.0 % |
Constituent Breakdown
| Number of holdings | 751 |
| Herfindahl-Hirschman Index | 51 |
| Wgt avg mkt cap (mns) | $50,372 |
| Large cap (>$10bn) | 39.6% |
| Mid cap ($2-10bn) | 10.5% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
JAPAN | 22.6 % |
 |
BRITAIN | 12.7 % |
 |
SWITZERLAND | 10.9 % |
 |
FRANCE | 10.6 % |
 |
GERMANY | 8.8 % |
 |
AUSTRALIA | 6.0 % |
 |
NETHERLANDS | 5.6 % |
 |
DENMARK | 3.3 % |
 |
SWEDEN | 3.2 % |
 |
SPAIN | 2.6 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 8.0% | 3.8% | -5.0% | 7.7% | 3.2% | -- | 5.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.59 | 11% |
| MSCI EAFE | 0.59 | 11% |
| MSCI Emg Mkts | 0.35 | 4% |
Liquidity Measures
| Avg. volume (000) | 27 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $27,800 |
Technical Indicators
| Recent close | $37.07 |
| 30d moving avg. | $37.61 |
| Annualized volatility | 32.0% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 1.3% |
| 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. EFAX |
Expenses vs. EFAX |
ALTAR Score™ vs. EFAX |
|---|---|---|---|---|
| EFA | iShares MSCI EAFE ETF | 90.0% | +12 bp | +0.2% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 87.4% | +15 bp | +0.2% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 83.7% | 0 bp | +0.3% |
| HFXI | IQ 50 Percent Hedged FTSE International ETF | 80.3% | 0 bp | +0.4% |
| BKIE | BNY Mellon International Equity ETF | 78.1% | -16 bp | +0.7% |
| IEFA | iShares Core MSCI EAFE ETF | 77.3% | -13 bp | +0.3% |
| PBDM | Invesco PureBeta FTSE Developed ex-North America ETF | 74.2% | -13 bp | +0.3% |
| IQSI | IQ Candriam ESG International Equity ETF | 71.4% | -5 bp | +0.3% |
| ESGD | iShares MSCI EAFE ESG Optimized ETF | 69.6% | 0 bp | -0.1% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 69.4% | -16 bp | +0.4% |
Risk and Returns: EFAX 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 6/8/2023
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
EFAX
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™
EFAX
6.8%
Cat. Avg
7.6%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.8% |
Recommendation
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.
Category Overview
There are 272 funds in the International Equities category, with an average ALTAR Score™
of 7.6% and a standard deviation of
2.6%. EFAX's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places EFAX in the 39th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
EFAX
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) |
|
|---|---|---|---|
| EFAX | 20.0 | 30.4 | 50.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .