VanEck Vectors Biotech
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
24.0x P/Sales
ratio
5.6x
P/BV
ratio
3.8x Div.
yield
0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Biotech ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the US Listed Biotech 25 Index.

FUND BASICS
Category US Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Dec 21, 2011
Assets (mns) $349
Currency USD
Expense ratio 35 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $48,022
Large cap (>$10bn) 77.7%
Mid cap ($2-10bn) 19.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMGEN INC 11.0 %
CELGENE CORP 7.1 %
GILEAD SCIENCES INC 6.8 %
BIOGEN IDEC INC 5.8 %
VERTEX PHARMACEUTICALS INC 5.4 %
ALLERGAN PLC 5.1 %
REGENERON PHARMACEUTICALS 5.1 %
ILLUMINA INC 4.7 %
INCYTE CORP 4.5 %
IQVIA HOLDINGS INC 4.3 %
Total 59.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 85.2 %
IRELAND 5.1 %
CHINA 4.0 %
NETHERLANDS 3.0 %
SPAIN 2.6 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.2% 6.2% 2.1% -- 17.5%

Market Correlations
versus... Beta R-squared
S&P500 1.24 57%
MSCI EAFE 1.04 34%
MSCI Emg. Mkts. 0.83 35%

Technical Indicators
Recent close $131.74
30d moving avg. $123.94
Annualized volatility 19.8%
Short interest (ETF) 1.8%
Short interest (Underlying) 3.3%
Relative strength (RSI) 78

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.5%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $4,817

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the VanEck Vectors Biotech ETF based on the alternatives' overlap in portfolio holdings with BBH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BBH Expense: 35 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BBH
Ticker Fund
Name
Overlap1
vs BBH
(%)
Expense
ratio
(bp)
Savings
vs BBH
(bp)
ALTAR
Score™
(%)
ALTAR
vs BBH
(%)
FBT First Trust NYSE-ARCA Biotechnology 59.7 57 -22 -0.8 -6.2
IBB iShares NASDAQ Biotechnology 58.5 47 -12 1.3 -4.2
PBE Invesco Dynamic Biotechnology & Genome 40.1 57 -22 0.0 -5.4
IEIH iShares Evolved U.S. Innovative Healthcare 37.5 18 17 4.9 -0.6
BBP BioShares Biotech Products 37.3 79 -44 -3.9 -9.3
XBI SPDR S&P Biotech ETF 27.9 35 0 -5.1 -10.5
GNOM Global X Genomics & Biotechnology 26.3 68 -33 -6.4 -11.9
PJP Invesco Dynamic Pharmaceuticals 25.7 56 -21 9.9 +4.5
LNGR Global X Longevity Thematic 21.2 50 -15 3.7 -1.8
RYH Invesco S&P Equal Weight Healthcare 18.7 40 -5 7.3 +1.9
IYH iShares US Healthcare 17.7 43 -8 6.6 +1.1
JHMH John Hancock Multifactor Health Care 17.1 40 -5 6.9 +1.5
BTEC Principal Healthcare Innovators Index 17.1 42 -7 -4.6 -10.0
QQXT First Trust NASDAQ-100 Ex-Tech 17.0 60 -25 6.1 +0.6
FXH First Trust Health Care Alphadex 16.8 63 -28 7.4 +1.9
XLV Health Care Select Sector SPDR 16.7 13 22 7.5 +2.1
FHLC Fidelity MSCI Health Care 16.4 8 27 6.1 +0.6
VHT Vanguard Health Care 16.2 10 25 6.1 +0.6
CNCR Loncar Cancer Immunotherapy 15.0 79 -44 -3.9 -9.3
ARKG ARK Genomic Revolution Multi-Sector 13.3 75 -40 -4.2 -9.6

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
VanEck Vectors Biotech
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 19.0 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.55
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.