FEZ
SPDR EURO STOXX 50 ETF
DJ EURO STOXX 50 Fund is an exchange-traded fund which represents a passive management strategy designed to track the performance of the Dow Jones EURO STOXX 50 Index. The Dow Jones STOXX 50 Index represents the performance of the 50 largest companies, across all components the 19 Dow Jones EURO STOXX 600 market sector indices.
International
EQUITY
Passive
MANAGEMENT STYLE
3.4 B
ASSETS UNDER MGMT
29 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 15, 2002 |
| Assets (mns) | $3,406 |
| Expense ratio | 29 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| 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 +
| ASML HOLDING NV | 7.5 % |
| SAP AG | 6.6 % |
| LVMH MOET HENNESSY LOUIS VUI | 4.4 % |
| SIEMENS AG-REG | 4.2 % |
| SCHNEIDER ELECTRIC SA | 4.1 % |
| TOTAL SA | 4.1 % |
| ALLIANZ SE-REG | 3.3 % |
| SANOFI-AVENTIS | 3.1 % |
| DEUTSCHE TELEKOM AG | 3.0 % |
| AIR LIQUIDE SA | 2.8 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 300 |
| Wgt avg mkt cap (mns) | $138,646 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
FRANCE | 36.7 % |
 |
GERMANY | 27.4 % |
 |
NETHERLANDS | 16.1 % |
 |
SPAIN | 7.7 % |
 |
ITALY | 7.6 % |
 |
FINLAND | 1.8 % |
 |
BELGIUM | 1.5 % |
 |
BRITAIN | 0.8 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.7% | 25.5% | 24.8% | 5.2% | 8.2% | 5.8% | 6.7% | Volatility | 16.1% | 15.8% | 17.7% | 21.7% | 24.3% | 21.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.10 | 70% |
| MSCI EAFE | 1.22 | 89% |
| MSCI Emg Mkts | 1.00 | 58% |
Liquidity Measures
| Avg. volume (000) | 1,423 |
| Turnover | 2.0% |
| Avg. Bid/Ask (% of price) | 0.02% |
| ADV of underlying (mns) | $7,787 |
Technical Indicators
| Recent close | $47.70 |
| 30d moving avg. | $51.79 |
| Annualized volatility | 22.9% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 2.7% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FEZ |
Expenses vs. FEZ |
ALTAR Score™ vs. FEZ |
|---|---|---|---|---|
| EZU | iShares MSCI Eurozone ETF | 65.2% | +23 bp | -0.2% |
| FLEU | Franklin FTSE Eurozone ETF | 63.3% | -20 bp | +0.5% |
| DBEZ | Xtrackers MSCI Eurozone Hedged Equity ETF | 57.2% | +16 bp | -0.4% |
| HEDJ | WisdomTree Europe Hedged Equity Fund | 44.3% | +29 bp | +2.5% |
| EWQ | iShares MSCI France ETF | 39.1% | +24 bp | -0.5% |
| OEUR | ALPS O'Shares Europe Quality Dividend ETF | 34.1% | +19 bp | -1.2% |
| IEV | iShares Europe ETF | 33.6% | +38 bp | -0.2% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 31.5% | -20 bp | +0.3% |
| DBEU | Xtrackers MSCI Europe Hedged Equity ETF | 30.2% | +17 bp | -0.5% |
| IEUR | iShares Core MSCI Europe ETF | 29.5% | -18 bp | +0.2% |
Risk and Returns: FEZ 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 11/22/2024
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
FEZ
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™
FEZ
6.8%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.6%. FEZ's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places FEZ in the 43rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FEZSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive International Equity ETFs |
| # of ETFs | 77 |
| Avg. Expense Ratio | 38.8 bp |
| Std. Deviation | 21.2 bp |
| FEZ (29 bp) Percentile rank | 32 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FEZ | 29.0 | 2.3 | 31.3 |
| Peer Avg. | 42.0 | 17.5 | 59.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .