KCE

SPDR S&P Capital Markets ETF

KBW Capital Markets ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate the performance of the KBW Capital Markets Index.


US

EQUITY

Passive

MANAGEMENT STYLE

35 bp

EXPENSES

$438.7 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryUS
Asset classEquity
Websitelink...
Inception dateNov 08, 2005
Assets (mns)$439
Expense ratio35 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingEqual
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
JEFFERIES FINANCIAL GROUP INC. 1.9 %
PIPER JAFFRAY COS 1.9 %
MOELIS & CO - CLASS A 1.8 %
PJT PARTNERS, INC. CLASS A 1.8 %
HAMILTON LANE INCORPORATED CLASS A 1.8 %
EVERCORE PARTNERS INC-CL A 1.8 %
STEPSTONE GROUP, INC. CLASS A 1.8 %
MORNINGSTAR INC 1.8 %
HOULIHAN LOKEY, INC. CLASS A 1.8 %
MOODY'S CORP 1.8 %
Constituent Breakdown
Number of holdings60
Herfindahl-Hirschman Index 164
Wgt avg mkt cap (mns)$29,450
Large cap (>$10bn)53.7%
Mid cap ($2-10bn)37.8%
Small cap (<$2bn)8.5%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 92.0 %
BRITAIN 1.7 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 9.2% 33.2% 25.9% 7.9% 17.4% 10.9% 6.2%
Volatility 15.0% 16.2% 21.8% 22.6% 25.6% 22.7% --
Market Correlations
versus...BetaR-squared
S&P 5001.2279%
MSCI EAFE1.2071%
MSCI Emg Mkts0.9041%
Liquidity Measures
Avg. volume (000)104
Turnover2.7%
Avg. Bid/Ask (% of price)0.13%
ADV of underlying (mns)$19,068
Technical Indicators
Recent close$113.96
30d moving avg.$111.00
Annualized volatility24.8%
Relative strength (RSI)52
Short interest (ETF)0.3%
Short interest (underlying)2.6%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: KCE vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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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 --%
3.3 15.4 2.3 2.4% --
Based on closing prices from 7/11/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
KCE



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™

KCE

6.9%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™6.9%
Recommendation

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

Category Overview
There are 899 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.5%. KCE's ALTAR Score™ is approximately 0.5 standard deviations above the category average. This places KCE in the 68th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
KCE
Peer Average
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)
KCE 35.0 13.1 48.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .