Principal Healthcare Innovators Index ETF
ALTAR
Score™
-2.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-19.8x P/Sales
ratio
4.9x
P/BV
ratio
14.0x Div.
yield
0.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Principal Healthcare Innovators Index ETF tracks an index of non-large-cap US health care stocks and is market cap weighted.

FUND BASICS
Category US Equities
Fund Sponsor The Principal Financial Group
Website www.principaletfs.com
Inception date Aug 19, 2016
Assets (mns) $94
Currency USD
Expense ratio 42 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 205
Wgt avg mkt cap (mns) $5,381
Large cap (>$10bn) 17.9%
Mid cap ($2-10bn) 48.6%
Small cap (<$2bn) 33.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MODERNA, INC. 4.6 %
SEATTLE GENETICS INC 3.2 %
BIOMARIN PHARMACEUTICAL INC 3.2 %
ALNYLAM PHARMACEUTICALS INC 2.9 %
EXACT SCIENCES CORP 2.9 %
SAREPTA THERAPEUTICS INC 2.7 %
TELADOC INC 2.7 %
IONIS PHARMACEUTICALS, INC. 1.9 %
GUARDANT HEALTH, INC. 1.7 %
ACADIA PHARMACEUTICALS INC 1.7 %
Total 27.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.6 %
BRITAIN 1.4 %
SWITZERLAND 1.0 %
IRELAND 0.9 %
NETHERLANDS 0.5 %
CAYMAN ISLANDS 0.3 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
15.9% 30.8% -- -- 17.2%

Market Correlations
versus... Beta R-squared
S&P500 1.38 68%
MSCI EAFE 1.25 49%
MSCI Emg. Mkts. 0.97 46%

Technical Indicators
Recent close $44.85
30d moving avg. $43.16
Annualized volatility 28.3%
Short interest (ETF) 0.4%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.6%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $9,068

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Principal Healthcare Innovators Index ETF ETF based on the alternatives' overlap in portfolio holdings with BTEC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BTEC Expense: 42 bp ALTAR Score™: -2.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BTEC
Ticker Fund
Name
Overlap1
vs BTEC
(%)
Expense
ratio
(bp)
Savings
vs BTEC
(bp)
ALTAR
Score™
(%)
ALTAR
vs BTEC
(%)
XBI SPDR S&P BIOTECH ETF 51.1 35 7 -2.5 -0.1
IBB iShares NASDAQ Biotechnology ETF 39.4 47 -5 0.2 +2.6
BBC Virtus LifeSci Biotech Clinical Trials ETF 30.5 79 -37 -1.4 +1.0
IEIH iShares Evolved U.S. Innovative Healthcare ETF 27.6 18 24 2.9 +5.3
FBT First Trust NYSE Arca Biotechnology Index Fund 23.8 55 -13 -0.9 +1.5
IDNA iShares Genomics Immunology & Healthcare ETF 23.5 47 -5 -2.9 -0.6
BBH VanEck Vectors Biotech ETF 23.4 35 7 3.8 +6.2
SBIO ALPS Medical Breakthroughs ETF 22.0 50 -8 -1.9 +0.5
IWO iShares Russell 2000 Growth ETF 21.4 24 18 0.8 +3.1
GNOM Global X Genomics & Biotechnology ETF 21.4 68 -26 -3.9 -1.5
GDNA Goldman Sachs Motif Human Evolution ETF 21.3 50 -8 0.3 +2.7
VTWG Vanguard Russell 2000 Growth Index Fund 21.0 15 27 0.8 +3.2
PTH Invesco DWA Healthcare Momentum ETF 18.4 60 -18 -2.4 0.0
HELX Franklin Genomic Advancements ETF 16.7 50 -8 -1.8 +0.6
IWC iShares Micro-Cap ETF 16.0 60 -18 -3.9 -1.5
JKK iShares Morningstar Small-Cap Growth ETF 15.0 30 12 1.1 +3.5
VFMO Vanguard U.S. Momentum Factor ETF 14.2 13 29 1.2 +3.5
DWAS Invesco DWA SmallCap Momentum ETF 13.9 60 -18 -1.1 +1.3
FYC First Trust Small Cap Growth AlphaDEX Fund 13.8 70 -28 2.5 +4.9
IWM iShares Russell 2000 ETF 13.7 19 23 3.7 +6.0
GERM ETFMG Treatments Testing and Advancements ETF 13.7 68 -26 -3.1 -0.7
VTWO Vanguard Russell 2000 Index Fund 13.4 10 32 3.7 +6.1
FXH First Trust Health Care AlphaDEX Fund 13.0 62 -20 4.4 +6.8
HTEC ROBO Global Healthcare Technology & Innovation ETF 12.5 68 -26 0.2 +2.5
PBE Invesco Dynamic Biotechnology & Genome ETF 11.1 57 -15 -1.8 +0.6
ARKG ARK Genomic Revolution Multi-Sector ETF 11.0 75 -33 0.0 +2.4
SCHA Schwab U.S. Small-Cap ETF 10.9 4 38 4.7 +7.1
VBK Vanguard Small-Cap Growth Index Fund 10.8 7 35 2.4 +4.8
FNY First Trust Mid Cap Growth AlphaDEX Fund 10.6 70 -28 2.1 +4.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 9.7 29 13 1.8 +4.2
LNGR Global X Longevity Thematic ETF 9.7 50 -8 3.1 +5.5
CNCR Loncar Cancer Immunotherapy ETF 9.7 79 -37 -2.9 -0.5
IPO Renaissance IPO ETF 9.6 60 -18 23.9 +26.3
NUSC Nuveen ESG Small-Cap ETF 9.2 40 2 5.4 +7.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 9.1 17 25 5.2 +7.6
FHLC Fidelity MSCI Health Care Index ETF 8.7 8 34 5.5 +7.9
AFSM First Trust Active Factor Small Cap ETF 8.7 75 -33 5.7 +8.1
VHT Vanguard Health Care Index Fund 8.5 10 32 5.4 +7.8
PBSM Invesco PureBeta MSCI USA Small Cap ETF 8.5 6 36 5.4 +7.8
FAD First Trust Multi Cap Growth AlphaDEX Fund 8.3 66 -24 2.5 +4.9
FYX First Trust Small Cap Core AlphaDEX Fund 8.2 63 -21 6.7 +9.1
PSC Principal U.S. Small Cap Index ETF 8.2 38 4 7.1 +9.5
BKSE BNY Mellon US Small Cap Core Equity ETF 8.0 4 38 5.7 +8.1
VXF Vanguard Extended Market Index Fund 7.7 7 35 3.8 +6.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 7.7 20 22 6.0 +8.4
IHE iShares U.S. Pharmaceuticals ETF 7.7 42 0 5.6 +7.9
XPH SPDR S&P Pharmaceuticals ETF 7.1 35 7 4.5 +6.9
XHE SPDR S&P Health Care Equipment ETF 6.9 35 7 1.7 +4.0
MFMS Motley Fool Small-Cap Growth ETF 6.7 85 -43 -1.9 +0.5
IHF iShares U.S. Healthcare Providers ETF 6.7 43 -1 7.7 +10.0
VB Vanguard Small-Cap ETF 6.6 5 37 5.4 +7.8
CSML IQ Chaikin U.S. Small Cap ETF 6.5 35 7 4.2 +6.6
PSCH Invesco S&P SmallCap Health Care ETF 6.4 29 13 3.0 +5.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 6.4 24 18 7.3 +9.7
RBUS Nationwide Risk-Based U.S. Equity ETF 6.0 30 12 5.1 +7.5
JHSC John Hancock Multifactor Small Cap ETF 5.9 42 0 6.0 +8.3
AIEQ AI Powered Equity ETF 5.7 87 -45 3.7 +6.1
KOMP SPDR Kensho New Economies Composite ETF 5.5 20 22 2.6 +4.9
JKH iShares Morningstar Mid-Cap Growth ETF 5.4 30 12 2.3 +4.6
BOSS Global X Founder-Run Companies ETF 5.4 45 -3 3.7 +6.1
MXDU Nationwide Maximum Diversification US Core Equity ETF 5.2 34 8 4.9 +7.3
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 5.2 75 -33 2.1 +4.5
JHMH John Hancock Multifactor Healthcare ETF 5.1 40 2 6.1 +8.4
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 5.0 7 35 5.5 +7.9
NUMG Nuveen ESG Mid-Cap Growth ETF 4.9 40 2 2.4 +4.8
FTXH First Trust Nasdaq Pharmaceuticals ETF 4.9 60 -18 8.7 +11.1
FNX First Trust Mid Cap Core AlphaDEX Fund 4.7 61 -19 6.4 +8.8
NIFE Direxion Fallen Knives ETF 4.7 50 -8 2.4 +4.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 4.6 29 13 5.7 +8.0
IYH iShares U.S. Healthcare ETF 4.5 43 -1 6.1 +8.5
XHS SPDR S&P Health Care Services ETF 4.4 35 7 4.4 +6.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 4.4 65 -23 3.4 +5.7
ISMD Inspire Small/Mid Cap Impact ETF 4.3 60 -18 6.6 +9.0
SLY SPDR S&P 600 Small Cap ETF 4.3 15 27 7.1 +9.5
SPSM SPDR Portfolio Small Cap ETF 4.3 5 37 7.2 +9.6
IJR iShares Core S&P Small Cap ETF 4.3 7 35 7.2 +9.5
TUSA First Trust Total US Market AlphaDEX ETF 4.2 70 -28 6.0 +8.4
RYJ Invesco Raymond James SB-1 Equity ETF 4.2 82 -40 3.5 +5.9
VIOO Vanguard S&P Small-Cap 600 ETF 4.1 10 32 7.3 +9.6
ARKK ARK Innovation ETF 4.1 75 -33 -2.9 -0.5
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 4.0 40 2 6.8 +9.2
SLYG SPDR S&P 600 Small Cap Growth ETF 4.0 15 27 5.3 +7.7
IJT iShares S&P Small-Cap 600 Growth ETF 4.0 25 17 5.2 +7.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 4.0 39 3 4.2 +6.6
FDG American Century Focused Dynamic Growth ETF 3.9 45 -3 1.8 +4.2
VIOG Vanguard S&P Small-Cap 600 Growth ETF 3.9 16 26 5.2 +7.6
VFLQ Vanguard U.S. Liquidity Factor ETF 3.8 14 28 4.7 +7.1
SFYX Sofi Next 500 ETF 3.7 0 42 6.0 +8.4
TECB iShares US Tech Breakthrough Multisector ETF 3.7 40 2 4.0 +6.4
SLYV SPDR S&P 600 Small Cap Value ETF 3.6 15 27 9.4 +11.8
IJS iShares S&P Small-cap 600 Value ETF 3.6 25 17 9.3 +11.7
SQLV Legg Mason Small-Cap Quality Value 3.5 62 -20 8.0 +10.4
IWN iShares Russell 2000 Value ETF 3.5 24 18 7.4 +9.7
VTWV Vanguard Russell 2000 Value Index Fund 3.5 15 27 7.5 +9.9
VIOV Vanguard S&P Small-Cap 600 Value ETF 3.5 15 27 9.8 +12.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 3.4 20 22 4.7 +7.1
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 3.4 30 12 7.9 +10.2
XT iShares Exponential Technologies ETF 3.4 47 -5 5.1 +7.5
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 3.4 60 -18 3.7 +6.1
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 3.4 125 -83 -3.4 -1.1

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

  2015 2016 2017 2018 2019 2020E 2021E
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

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Principal Healthcare Innovators Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity -43.4 %
Divided by: Fwd. P/BV 22.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score -2.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.28 CATEGORY
AVERAGE
1.52
 
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.