GMF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Emerging Asia Pacific ETF objective is to replicate the performance of the S&P Asia Pacific Emerging BMI Index, which includes companies in an emerging market in the Asia Pacific Emer
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 19, 2007 |
| Assets (mns) | $325 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| 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 +
| JPMorgan BetaBuilders Canada ETF | 55.5 % |
| ALPS Clean Energy ETF | 15.9 % |
| WisdomTree Global ex-US Quality Dividend | 12.1 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 6.0 % |
| TENCENT HOLDINGS LTD | 4.3 % |
| ALIBABA GROUP HOLDING LTD. | 2.5 % |
| HDFC BANK LIMITED | 1.7 % |
| RELIANCE INDS-SPONS GDR 144A | 1.6 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 1.3 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.3 % |
Constituent Breakdown
| Number of holdings | 936 |
| Herfindahl-Hirschman Index | 3,480 |
| Wgt avg mkt cap (mns) | $76,995 |
| Large cap (>$10bn) | 67.0% |
| Mid cap ($2-10bn) | 25.4% |
| Small cap (<$2bn) | 7.6% |
| Developed mkts. | 8.1% |
| Emerging mkts. | 91.9% |
Country Exposure
 |
CHINA | 29.6 % |
 |
INDIA | 24.7 % |
 |
TAIWAN | 23.6 % |
 |
HONG KONG | 3.2 % |
 |
MALAYSIA | 2.9 % |
 |
THAILAND | 2.4 % |
 |
INDONESIA | 2.2 % |
 |
PHILIPPINES | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 5.0% | 3.2% | -7.5% | -4.2% | 3.7% | 4.8% | 5.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.51 | 24% |
| MSCI EAFE | 0.72 | 46% |
| MSCI Emg Mkts | 0.97 | 91% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $15,617 |
Technical Indicators
| Recent close | $99.98 |
| 30d moving avg. | $96.31 |
| Annualized volatility | 18.1% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GMF |
Expenses vs. GMF |
ALTAR Score™ vs. GMF |
|---|---|---|---|---|
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 101.4% | -19 bp | +1.0% |
| SPEM | SPDR Portfolio Emerging Markets ETF | 99.4% | -42 bp | -5.2% |
| QEMM | SPDR MSCI Emerging Markets StrategicFactors ETF | 87.7% | -19 bp | +1.8% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 53.8% | 0 bp | +0.1% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 51.0% | +20 bp | -0.3% |
| VWO | Vanguard FTSE Emerging Markets ETF | 48.6% | -41 bp | -6.8% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 45.8% | +17 bp | +0.5% |
| SCHE | Schwab Emerging Markets Equity ETF | 45.7% | -38 bp | +0.9% |
| EEM | iShares MSCI Emerging Markets ETF | 45.7% | +19 bp | +0.5% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 45.7% | -38 bp | -6.9% |
Risk and Returns: GMF 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 11/30/2023
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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
GMF
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™
GMF
6.3%
Cat. Avg
7.0%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.3% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 176 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.0% and a standard deviation of
4.2%. GMF's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places GMF in the 43rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
GMF
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) |
|
|---|---|---|---|
| GMF | 49.0 | 20.1 | 69.1 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .