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) | $337 |
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 +
TAIWAN SEMICONDUCTOR-SP ADR | 7.6 % |
TENCENT HOLDINGS LTD | 3.9 % |
ALIBABA GROUP HOLDING LTD. | 2.1 % |
RELIANCE INDS-SPONS GDR 144A | 1.9 % |
HDFC BANK LIMITED | 1.7 % |
TAIWAN SEMICONDUCTOR MANUFAC | 1.3 % |
PINDUODUO, INC. SPONSORED ADR CLASS A | 1.2 % |
ICICI BANK LTD-SPON ADR | 1.2 % |
HON HAI PRECISION INDUSTRY | 1.1 % |
CHINA CONSTRUCTION BANK-H | 1.0 % |
Constituent Breakdown
Number of holdings | 927 |
Herfindahl-Hirschman Index | 117 |
Wgt avg mkt cap (mns) | $110,184 |
Large cap (>$10bn) | 70.8% |
Mid cap ($2-10bn) | 22.3% |
Small cap (<$2bn) | 6.8% |
Developed mkts. | 6.6% |
Emerging mkts. | 93.4% |
Country Exposure
INDIA | 28.2 % | |
CHINA | 26.3 % | |
TAIWAN | 25.4 % | |
MALAYSIA | 3.0 % | |
HONG KONG | 2.7 % | |
INDONESIA | 2.5 % | |
THAILAND | 2.3 % | |
PHILIPPINES | 0.9 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
1.0% | 4.5% | -1.1% | -5.6% | 2.9% | 5.2% | 5.6% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.55 | 29% |
MSCI EAFE | 0.76 | 50% |
MSCI Emg Mkts | 1.00 | 94% |
Liquidity Measures
Avg. volume (000) | 10 |
Turnover | 0.3% |
Avg. Bid/Ask (% of price) | 0.19% |
ADV of underlying (mns) | $23,459 |
Technical Indicators
Recent close | $103.57 |
30d moving avg. | $99.39 |
Annualized volatility | 18.2% |
Relative strength (RSI) | 64 |
Short interest (ETF) | 0.6% |
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. GMF |
Expenses vs. GMF |
ALTAR Score™ vs. GMF |
---|---|---|---|---|
EEMA | iShares MSCI Emerging Markets Asia ETF | 52.9% | 0 bp | +0.3% |
SPEM | SPDR Portfolio Emerging Markets ETF | 52.2% | -42 bp | +1.1% |
AAXJ | iShares MSCI All Country Asia ex Japan ETF | 50.6% | +21 bp | -0.1% |
FLAX | Franklin FTSE Asia Ex Japan ETF | 50.3% | -30 bp | +0.8% |
VWO | Vanguard FTSE Emerging Markets ETF | 48.3% | -41 bp | +1.2% |
EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 44.9% | -19 bp | +1.1% |
SCHE | Schwab Emerging Markets Equity ETF | 44.7% | -38 bp | +1.2% |
EEM | iShares MSCI Emerging Markets ETF | 44.5% | +20 bp | +0.6% |
JHEM | John Hancock Multifactor Emerging Markets ETF | 43.7% | 0 bp | +2.0% |
DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 43.4% | +17 bp | +0.8% |
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
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
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
2023 | 2024E | Fwd Est | 2025E | |
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 4/24/2024
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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
6.4%
Cat. Avg
7.7%
Fund Category: Emerging Market Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 6.4% |
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 163 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.7% and a standard deviation of
3.8%. GMF's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places GMF in the 36th 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 | |
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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 | 19.0 | 68 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .