XES Fund Description

The SPDR S&P Oil & Gas Equipment & Services ETF tracks an equal-weighted index of companies in the oil and gas equipment and services sub industry of the S&P Total Markets Index.

XES ETF.com Insight

At 35 bps, XES is the cheapest option for investors interested in the world of wildcatting and drilling hardware & services but its weighting scheme skews it from a neutral take on theThe fund's beta of 1.11 in relation to our benchmark indicates the higher risk market. Its equal-weight strategy produces a portfolio bias toward small-cap equities causing it to nearly bypass the oil & gas transportation industry. Instead, 33% of its portfolio is allocated to drilling companies which tend to be small companies. The equal-weight strategy is appealing in an industry riddled with a few large players that tend to dominate vanilla market cap portfolios which is why its on our Opportunities list. XES is also highly liquid and the combination of relative economy and solid trading make it a formidable choice. (Insight updated 04/14/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 08/28/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

XES
-3.45% -1.24% 3.99% 12.35% 11.48% 13.46% -1.24%

XES (NAV)
-3.47% -1.17% 4.10% 12.34% 11.48% 13.50% -1.17%

S&P Oil & Gas Equipment & Services Select Industry Index
-3.44% -1.09% 4.33% 12.70% 11.72% 13.79% -1.09%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

XES Top 10 Countries

XES Top 10 Sectors

XES Top 10 Holdings View All

XES Summary Data

SSgA

A company that produces and manages ETFs.

06/19/06

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.35%

The net total annual fee a fund holder pays to the issuer.

$317.07 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$3.27 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.07%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

XES Portfolio Data

$10.74 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

33.52

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.63

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

0.76%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

09/19/14

The date on which a security's price excludes an upcoming dividend.

49

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

XES Index Data

S&P Oil & Gas Equipment & Services Select Industry Index

This is the benchmark an ETF is desigend to track or replicate.

Equal

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

Thomson Reuters US Oil & Gas Related Equipment & Services

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to XES

PXJ, IEZ

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

XES ETF.com Efficiency Insight

At 35 bps, XES is the cheapest fund within its segment. Even better, XES consistently tracks its index tighter than even its expense ratio suggests - likely the product of securities lending revenue and efficient management. XES has also preserved its tax efficiency by avoiding capital gains payouts. (Insight updated 04/14/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 08/21/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

XES
-5.33% -1.79% 2.82% 13.52% 13.11% 12.95% -1.79%

XES (NAV)
-5.36% -1.79% 2.89% 13.48% 13.17% 12.92% -1.79%

S&P Oil & Gas Equipment & Services Select Industry Index
-5.34% -1.70% 3.10% 13.85% 13.41% 13.21% -1.70%

Thomson Reuters US Oil & Gas Related Equipment & Services
-2.07% 8.11% 19.22% 31.20% 17.86% 15.98% 8.11%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

XES Portfolio Management

0.35%

The net annual fee a fund holder pays to the issuer.

-0.28%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.18%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.38%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

XES Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

XES Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

100% / 0%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

XES ETF.com Tradability Insight

XES offers investors deep liquidity, trading more than $2 million most days. The fund's use of an equal-weight strategy does little to impact its hedgability, and the fund trades without any significant premiums or discounts. Its average spread of 0.07% (3 cents) is among the tightest in its segment. On-screen liquidity is deep enough to accommodate small and large investors alike. (Insight updated 04/14/2014)

Average Spread

Premium/Discount

Volume

XES ETF.com/ Block LiquidityAs of 08/29/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of XES. XES is rated a 5 out of 5.

XES Tradability

71,113

It is the daily number of shares traded, averaged over the past 45 trading days.

$3.27 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

53,034

Median number of shares traded over the past 45 trading days.

$2.49 M

Median dollar value of shares traded over the past 45 trading days.

0.07%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.03

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

-0.01%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.22% / -0.16%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

1.06

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.01%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.24%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

554

The total number of net outstanding options contracts for an ETF.

$45.3

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

XES ETF.com Fit Insight

XES does not reflect a neutral view of the segment but it doesn't try to. Its equal-weighting methodology causes XES to tilt toward small-caps, with 33% of the fund exposed to small-cap companies. This forces the fund to nearly ignore the oil & gas transportation industry in favor of the drilling industry. Despite its higher beta XES has slightly underperformed our benchmark over the past 3 years. (Insight updated 04/14/2014)

XES Geographic Exposure

XES Segment Benchmark
99.82% 97.70%
0.18% 2.30%

XES Segment Benchmark
99.82% 97.70%
0.18% 2.30%
100.00% / 0% 100.00% / 0%

XES Performance Statistics

0.85

The degree to which the fund and its segment benchmark move up and down in unison.

1.09

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

-14.44%

The excess return of fund relative to ETF.com segment benchmark on a risk adjusted basis. Only reported if statistically significant.

0.93

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.23

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.45%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

Thomson Reuters US Oil & Gas Related Equipment & Services

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

XES Benchmark Comparison

XES
49 Holdings
Segment Benchmark
55 Constituents
Shared Holdings
37 (Count)
 
35.11% (Weight)
XESSegment Benchmark
$56.49 B$10.74 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

77%19%
17%47%
5%28%
0%5%
23.8133.52

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.471.63

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.71%0.97%

The weighted average of the current yield on the portfolio’s holdings.

5549

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

HighMedium

The level of return contribution attributable to the average portfolio constituent.