SPEM

SPDR Portfolio Emerging Markets ETF

SPDR S&P Emerging Markets ETF objective is to replicate the performance of the S&P Emerging BMI Index. The Index measures the investable universe of publicly traded companies domiciled in emer


Passive, Concentrated

MANAGEMENT MATRIX

GMF

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateMar 19, 2007
Assets (mns)$7,299
Expense ratio7 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
JPMorgan BetaBuilders Canada ETF 44.6 %
Nifty India Financials ETF 5.0 %
TAIWAN SEMICONDUCTOR MANUFAC 5.0 %
First Trust Multi Cap Value AlphaDEX Fun 4.3 %
TENCENT HOLDINGS LTD 3.2 %
SPDR S&P Regional Banking ETF 3.1 %
ALIBABA GROUP HOLDING LTD. 2.2 %
WisdomTree Global ex-US Quality Dividend 2.0 %
SoFi Smart Energy ETF 1.4 %
HDFC BANK LIMITED 1.4 %
Constituent Breakdown
Number of holdings2040
Herfindahl-Hirschman Index 3,356
Wgt avg mkt cap (mns)$37,847
Large cap (>$10bn)41.5%
Mid cap ($2-10bn)23.8%
Small cap (<$2bn)9.7%
Developed mkts.6.9%
Emerging mkts.93.1%
Country Exposure
CHINA 22.8 %
INDIA 18.6 %
TAIWAN 16.4 %
BRAZIL 5.6 %
SAUDI ARABIA 3.9 %
HONG KONG 2.3 %
MEXICO 2.1 %
SOUTH AFRICA 2.1 %
THAILAND 2.0 %
MALAYSIA 1.9 %
Historical Performance


Standardized Annual Returns (as of 08/31/2023)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
5.5% 3.1% -8.5% 0.4% 2.3% 3.9% 3.5%
Market Correlations
versus...BetaR-squared
S&P 5000.5840%
MSCI EAFE0.7060%
MSCI Emg Mkts0.9096%
Liquidity Measures
Avg. volume (000)1,510
Turnover0.7%
Avg. Bid/Ask (% of price)0.03%
ADV of underlying (mns)$26,214
Technical Indicators
Recent close$33.53
30d moving avg.$34.18
Annualized volatility16.4%
Relative strength (RSI)41
Short interest (ETF)1.7%
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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Risk and Returns: SPEM vs. Comps (1 YR)

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Results & Estimates
  2018 2019 2020 2021 2022 2023E 2024E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings 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
  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 --%
1.0 11.5 1.5 3.4% --
Based on closing prices from 9/28/2023
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
SPEM



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™

SPEM

8.1%

Cat. Avg

7.8%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.1%
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 186 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 7.8% and a standard deviation of 4.1%. SPEM's ALTAR Score™ is approximately 0.1 standard deviations above the category average. This places SPEM in the 53rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SPEM
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
SPEM 7.0 2.9 9.9
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.