The market is at all-time highs and earnings season is upon us. So we decided to crunch some numbers and put an ETF lens on Q1 2019 earnings. Below we have some stats for ~600 U.S equity-focused ETFs. We’ve looked at underlying components that have reported earnings and then basket-weighted the actual EPS and consensus EPS numbers.

*Data updated as of 5/9 @ 9am

What we did

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Let’s look at SPY as an example: 478 companies in SPY’s basket have reported Q1 2019 earnings so far. This is about 94% of the fund’s total weight.

If we divide basket-weighted Actual EPS by Consensus EPS, the average is 105%. Or, viewed another way, we had about 5% positive surprise on average for the 478 companies earnings for Q1. With only 28 companies left to report, the surprise for SPY’s earnings is unlikely to fluctuate greatly.

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Full Q1 ETF Earnings Table

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Scott McKenna

Scott McKenna

Sales & Marketing Director