EWX
SPDR S&P Emerging Markets Small Cap ETF
SPDR S&P Emerging SmallCap ETF objective is to provide investment results that correspond generally to the total return performance of the S&P Emerging Markets Under USD2 Billion Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
720.6 M
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
Fund sponsor | SSGA Funds Management Inc |
Category | Emerging |
Asset class | Equity |
Website | link... |
Inception date | May 12, 2008 |
Assets (mns) | $721 |
Expense ratio | 65 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 +
Invesco Dorsey Wright Consumer Staples M | 0.8 % |
InfraCap Equity Income Fund ETF | 0.6 % |
Invesco Dorsey Wright Emerging Markets M | 0.5 % |
iShares MSCI India ETF | 0.4 % |
Clockwise Core Equity & Innovation ETF | 0.3 % |
VST INDUSTRIES LTD | 0.3 % |
Vanguard Mega Cap ETF | 0.3 % |
ProShares S&P Global Core Battery Metals | 0.2 % |
ZAI LAB LTD | 0.2 % |
CHINASOFT INTERNATIONAL LTD | 0.2 % |
Constituent Breakdown
Number of holdings | 1391 |
Herfindahl-Hirschman Index | 7 |
Wgt avg mkt cap (mns) | $630 |
Large cap (>$10bn) | 0.1% |
Mid cap ($2-10bn) | 6.2% |
Small cap (<$2bn) | 91.5% |
Developed mkts. | 8.0% |
Emerging mkts. | 92.0% |
Country Exposure
TAIWAN | 17.8 % | |
INDIA | 8.3 % | |
CHINA | 7.1 % | |
MALAYSIA | 3.1 % | |
SOUTH AFRICA | 2.7 % | |
THAILAND | 2.6 % | |
BRAZIL | 2.3 % | |
TURKEY | 1.9 % | |
SAUDI ARABIA | 1.9 % | |
HONG KONG | 1.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 9.8% | 22.0% | 19.1% | 4.0% | 9.4% | 5.5% | 4.0% | Volatility | 14.7% | 14.5% | 13.4% | 14.9% | 19.1% | 17.6% | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.63 | 61% |
MSCI EAFE | 0.67 | 71% |
MSCI Emg Mkts | 0.77 | 91% |
Liquidity Measures
Avg. volume (000) | 24 |
Turnover | 0.2% |
Avg. Bid/Ask (% of price) | 0.16% |
ADV of underlying (mns) | $11,697 |
Technical Indicators
Recent close | $59.55 |
30d moving avg. | $61.43 |
Annualized volatility | 14.1% |
Relative strength (RSI) | 54 |
Short interest (ETF) | 0.2% |
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. EWX |
Expenses vs. EWX |
ALTAR Score™ vs. EWX |
---|---|---|---|---|
EEMS | iShares MSCI Emerging Markets Small Cap ETF | 31.7% | +5 bp | -0.5% |
DGS | WisdomTree Emerging Markets SmallCap Dividend Fund | 17.4% | -7 bp | +2.1% |
TLTE | FlexShares Morningstar Emerging Markets Factor Tilt Index | 12.8% | -6 bp | +3.1% |
AVES | Avantis Emerging Markets Value ETF | 12.5% | -29 bp | +3.5% |
VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | 11.9% | -58 bp | -1.6% |
DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 11.1% | -27 bp | -0.4% |
DFEV | Dimensional Emerging Markets Value ETF | 10.0% | -22 bp | +3.0% |
Risk and Returns: EWX 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 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
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
EWX
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 Rating
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.
ALTAR Score™
EWX
8.3%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. EWX's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places EWX in the 55th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EWXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Rules-Based Emerging Market Equity ETFs |
# of ETFs | 103 |
Avg. Expense Ratio | 64.6 bp |
Std. Deviation | 29 bp |
EWX (65 bp) Percentile rank | 51 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
EWX | 65.0 | 15.6 | 80.6 |
Peer Avg. | 48.9 | 28.9 | 77.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .