XOP
SPDR S&P Oil & Gas Exploration & Production ETF
SPDR S&P Oil & Gas Exploration & Production ETF objective is to replicate as closely as possible the S&P Oil & Gas Exploration Index, an equal-weighted index.
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 19, 2006 |
| Assets (mns) | $3,147 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| PBF ENERGY INC-CLASS A | 2.9 % |
| MARATHON PETROLEUM | 2.7 % |
| VALERO ENERGY CORP | 2.6 % |
| CIVITAS RESOURCES, INC. | 2.6 % |
| PERMIAN RESOURCES CORPORATION CLASS A | 2.6 % |
| KOSMOS ENERGY LTD | 2.3 % |
| HF SINCLAIR CORPORATION | 2.3 % |
| PHILLIPS 66 | 2.3 % |
| EXXON MOBIL CORP | 2.3 % |
| DIAMONDBACK ENERGY INC | 2.3 % |
Constituent Breakdown
| Number of holdings | 56 |
| Herfindahl-Hirschman Index | 197 |
| Wgt avg mkt cap (mns) | $32,868 |
| Large cap (>$10bn) | 38.1% |
| Mid cap ($2-10bn) | 36.8% |
| Small cap (<$2bn) | 20.5% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.1 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -2.1% | 16.6% | 31.2% | 32.5% | 2.0% | -4.0% | 0.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.91 | 41% |
| MSCI EAFE | 1.84 | 37% |
| MSCI Emg Mkts | 1.63 | 34% |
Liquidity Measures
| Avg. volume (000) | 4,933 |
| Turnover | 18.4% |
| Avg. Bid/Ask (% of price) | 0.02% |
| ADV of underlying (mns) | $4,141 |
Technical Indicators
| Recent close | $117.66 |
| 30d moving avg. | $132.64 |
| Annualized volatility | 62.1% |
| Relative strength (RSI) | 39 |
| Short interest (ETF) | 67.1% |
| Short interest (underlying) | 5.8% |
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. XOP |
Expenses vs. XOP |
ALTAR Score™ vs. XOP |
|---|---|---|---|---|
| FCG | First Trust Natural Gas ETF | 54.8% | +25 bp | -1.0% |
| PXE | Invesco Dynamic Energy Exploration & Production ETF | 51.1% | +28 bp | +3.0% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 48.5% | +25 bp | -5.6% |
| FXN | First Trust Energy AlphaDEX Fund | 46.8% | +29 bp | -6.4% |
| IEO | iShares U.S. Oil & Gas Exploration & Production ETF | 45.0% | +4 bp | -1.9% |
| VDE | Vanguard Energy Index Fund | 34.6% | -25 bp | -4.4% |
| RYE | Invesco S&P 500 Equal Weight Energy ETF | 34.5% | +5 bp | -4.1% |
| FENY | Fidelity MSCI Energy Index ETF | 34.5% | -27 bp | -4.2% |
| PXI | Invesco DWA Energy Momentum ETF | 33.0% | +25 bp | -6.3% |
| QVAL | Alpha Architect U.S. Quantitative Value ETF | 32.9% | +14 bp | +1.4% |
Risk and Returns: XOP 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 3/17/2023
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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
XOP
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™
XOP
12.3%
Cat. Avg
6.6%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 12.3% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 889 funds in the US Equities category, with an average ALTAR Score™
of 6.6% and a standard deviation of
3.4%. XOP's ALTAR Score™ is approximately
1.7 standard deviations
above
the category average. This places XOP in the 96th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
XOP
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) |
|
|---|---|---|---|
| XOP | 35.0 | 1.9 | 36.9 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .