Principal Healthcare Innovators Index ETF
ALTAR
Score™
-2.2% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-25.9x P/Sales
ratio
5.1x
P/BV
ratio
14.2x Div.
yield
0.0%


  • 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) $108
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 200
Wgt avg mkt cap (mns) $6,156
Large cap (>$10bn) 22.5%
Mid cap ($2-10bn) 49.0%
Small cap (<$2bn) 27.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MODERNA, INC. 4.7 %
IMMUNOMEDICS INC 3.5 %
SEATTLE GENETICS INC 3.4 %
EXACT SCIENCES CORP 3.1 %
TELADOC INC 2.8 %
NOVOCURE LIMITED 2.7 %
ALNYLAM PHARMACEUTICALS INC 2.6 %
MYOKARDIA, INC. 2.1 %
SAREPTA THERAPEUTICS INC 2.1 %
GUARDANT HEALTH, INC. 2.0 %
Total 29.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.3 %
BRITAIN 2.7 %
SWITZERLAND 1.3 %
IRELAND 0.8 %
NETHERLANDS 0.4 %
CAYMAN ISLANDS 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
23.7% 52.7% -- -- 17.9%

Market Correlations
versus... Beta R-squared
S&P500 1.22 58%
MSCI EAFE 1.19 45%
MSCI Emg. Mkts. 0.90 42%

Technical Indicators
Recent close $50.01
30d moving avg. $48.31
Annualized volatility 28.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 21
Turnover 1.0%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $8,747

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™: -2.2%


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 49.3 35 7 -2.1 +0.1
IBBJ Defiance Nasdaq Junior Biotechnology ETF 47.9 45 -3 -2.1 +0.1
IBB iShares NASDAQ Biotechnology ETF 42.3 46 -4 0.5 +2.7
BBC Virtus LifeSci Biotech Clinical Trials ETF 31.4 79 -37 0.0 +2.2
IEIH iShares Evolved U.S. Innovative Healthcare ETF 29.0 18 24 3.3 +5.5
BBH VanEck Vectors Biotech ETF 25.4 35 7 3.9 +6.1
IDNA iShares Genomics Immunology & Healthcare ETF 23.8 47 -5 -2.7 -0.5
BMED BlackRock Future Health ETF 22.4 85 -43 -1.1 +1.1
GDNA Goldman Sachs Motif Human Evolution ETF 21.4 50 -8 0.5 +2.7
SBIO ALPS Medical Breakthroughs ETF 20.7 50 -8 -1.7 +0.5
IWO iShares Russell 2000 Growth ETF 20.6 24 18 -0.1 +2.1
FBT First Trust NYSE Arca Biotechnology Index Fund 20.1 55 -13 -1.0 +1.2
GNOM Global X Genomics & Biotechnology ETF 20.0 50 -8 -3.5 -1.3
VTWG Vanguard Russell 2000 Growth Index Fund 17.8 15 27 0.1 +2.3
HELX Franklin Genomic Advancements ETF 17.6 50 -8 -1.2 +1.0
FXH First Trust Health Care AlphaDEX Fund 17.6 62 -20 3.9 +6.1
ARKG ARK Genomic Revolution ETF 16.3 75 -33 -2.0 +0.2
JKK iShares Morningstar Small-Cap Growth ETF 15.9 30 12 1.0 +3.2
FNY First Trust Mid Cap Growth AlphaDEX Fund 15.0 70 -28 2.0 +4.2
HTEC ROBO Global Healthcare Technology & Innovation ETF 14.7 68 -26 0.1 +2.3
PTH Invesco DWA Healthcare Momentum ETF 14.5 60 -18 -4.9 -2.7
IWM iShares Russell 2000 ETF 12.5 19 23 3.2 +5.4
VTWO Vanguard Russell 2000 Index Fund 12.3 10 32 3.5 +5.7
GERM ETFMG Treatments Testing and Advancements ETF 12.3 68 -26 -2.9 -0.7
FYC First Trust Small Cap Growth AlphaDEX Fund 11.3 70 -28 1.8 +4.0
SCHA Schwab U.S. Small-Cap ETF 11.3 4 38 4.6 +6.8
VBK Vanguard Small-Cap Growth Index Fund 11.1 7 35 2.2 +4.4
PBE Invesco Dynamic Biotechnology & Genome ETF 10.7 58 -16 -2.5 -0.3
LNGR Global X Longevity Thematic ETF 10.4 50 -8 3.2 +5.4
DWAS Invesco DWA SmallCap Momentum ETF 10.3 60 -18 -2.0 +0.2
NUSC Nuveen ESG Small-Cap ETF 9.8 40 2 4.6 +6.8
IPO Renaissance IPO ETF 9.8 60 -18 0.6 +2.8
CNCR Loncar Cancer Immunotherapy ETF 9.7 79 -37 -2.7 -0.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 9.6 17 25 4.7 +6.8
EDOC Global X Telemedicine & Digital Health ETF 9.6 68 -26 0.7 +2.9
ALFA AlphaClone Alternative Alpha ETF 9.4 65 -23 -0.5 +1.7
STSB iShares Factors US Small Blend Style ETF 9.4 35 7 3.5 +5.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 9.3 66 -24 2.2 +4.4
VFMO Vanguard U.S. Momentum Factor ETF 9.3 13 29 0.7 +2.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 9.2 20 22 4.7 +6.9
FHLC Fidelity MSCI Health Care Index ETF 9.1 8 34 5.5 +7.6
VHT Vanguard Health Care Index Fund 9.0 10 32 5.4 +7.6
PBSM Invesco PureBeta MSCI USA Small Cap ETF 9.0 6 36 5.0 +7.2
IHE iShares U.S. Pharmaceuticals ETF 8.8 42 0 5.3 +7.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 8.7 29 13 0.2 +2.4
XHE SPDR S&P Health Care Equipment ETF 8.4 35 7 1.6 +3.8
ARKK ARK Innovation ETF 8.4 75 -33 -2.4 -0.2
BKSE BNY Mellon US Small Cap Core Equity ETF 8.1 4 38 5.5 +7.7
IHF iShares U.S. Healthcare Providers ETF 7.9 42 0 7.3 +9.5
PSC Principal U.S. Small Cap Index ETF 7.9 38 4 6.6 +8.8
JHSC John Hancock Multifactor Small Cap ETF 7.6 42 0 5.4 +7.6
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 7.6 24 18 6.3 +8.5
VXF Vanguard Extended Market Index Fund 7.6 6 36 3.4 +5.6
AFSM First Trust Active Factor Small Cap ETF 7.4 75 -33 5.3 +7.5
FNX First Trust Mid Cap Core AlphaDEX Fund 7.0 61 -19 6.2 +8.4
NIFE Direxion Fallen Knives ETF 7.0 50 -8 5.2 +7.4
XPH SPDR S&P Pharmaceuticals ETF 6.8 35 7 3.9 +6.1
QQQJ Invesco NASDAQ Next Gen 100 ETF 6.8 15 27 3.6 +5.8
VB Vanguard Small-Cap ETF 6.8 5 37 5.1 +7.3
IWP iShares Russell Mid-Cap Growth ETF 6.5 24 18 2.9 +5.0
JHMH John Hancock Multifactor Healthcare ETF 6.5 40 2 6.0 +8.2
CSML IQ Chaikin U.S. Small Cap ETF 6.3 35 7 3.8 +5.9
FYX First Trust Small Cap Core AlphaDEX Fund 6.2 63 -21 5.9 +8.1
IWC iShares Micro-Cap ETF 6.2 60 -18 -3.8 -1.6
MXDU Nationwide Maximum Diversification US Core Equity ETF 5.9 34 8 4.5 +6.7
PSCH Invesco S&P SmallCap Health Care ETF 5.9 29 13 2.7 +4.9
AIEQ AI Powered Equity ETF 5.4 87 -45 2.7 +4.9
KOMP SPDR Kensho New Economies Composite ETF 5.4 20 22 2.2 +4.4
IYH iShares U.S. Healthcare ETF 5.3 43 -1 6.1 +8.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 5.2 29 13 4.9 +7.1
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 5.2 7 35 5.0 +7.2
IQM Franklin Intelligent Machines ETF 5.1 50 -8 1.7 +3.9
GURU Global X Guru Index ETF 5.0 75 -33 3.8 +6.0
XHS SPDR S&P Health Care Services ETF 5.0 35 7 4.0 +6.2
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 4.9 60 -18 3.7 +5.9
ENTR Entrepreneur 30 Fund 4.9 49 -7 1.2 +3.4
BOSS Global X Founder-Run Companies ETF 4.8 45 -3 3.2 +5.4
JKH iShares Morningstar Mid-Cap Growth ETF 4.7 30 12 2.0 +4.2
RYJ Invesco Raymond James SB-1 Equity ETF 4.7 76 -34 3.2 +5.4
SCHM Schwab U.S. Mid-Cap ETF 4.7 4 38 5.8 +8.0
FTXH First Trust Nasdaq Pharmaceuticals ETF 4.7 60 -18 11.6 +13.8
MFMS Motley Fool Small-Cap Growth ETF 4.4 85 -43 -1.5 +0.7
FSMD Fidelity Small-Mid Factor ETF 4.3 29 13 6.1 +8.3
VIOO Vanguard S&P Small-Cap 600 ETF 4.2 10 32 6.7 +8.9
SPSM SPDR Portfolio Small Cap ETF 4.1 5 37 6.8 +9.0
SLY SPDR S&P 600 Small Cap ETF 4.1 15 27 6.7 +8.9
IJR iShares Core S&P Small Cap ETF 4.1 6 36 6.8 +9.0
ISMD Inspire Small/Mid Cap Impact ETF 4.1 60 -18 4.7 +6.9
RBUS Nationwide Risk-Based U.S. Equity ETF 4.0 30 12 4.6 +6.8
VFLQ Vanguard U.S. Liquidity Factor ETF 4.0 14 28 4.1 +6.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 3.9 40 2 7.0 +9.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 3.9 39 3 4.4 +6.6
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 3.9 30 12 7.4 +9.5
SLT Salt TruBeta High Exposure ETF 3.8 60 -18 3.2 +5.4
SSLY Syntax Stratified SmallCap ETF 3.7 30 12 6.3 +8.5
IHI iShares U.S. Medical Devices ETF 3.7 42 0 3.1 +5.3
IJT iShares S&P Small-Cap 600 Growth ETF 3.7 25 17 5.3 +7.5
SLYG SPDR S&P 600 Small Cap Growth ETF 3.7 15 27 5.2 +7.4
VOT Vanguard Mid-Cap Growth Index Fund 3.7 7 35 3.1 +5.3
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 3.7 20 22 4.6 +6.8

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 -41.1 %
Divided by: Fwd. P/BV 23.2 x
Less: Expense ratio 42 bp
Equals: ALTAR Score -2.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.51
 
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.