Principal Healthcare Innovators Index
ALTAR
Score™
-4.6% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-19.4x P/Sales
ratio
2.9x
P/BV
ratio
5.0x 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) $54
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 188
Wgt avg mkt cap (mns) $5,089
Large cap (>$10bn) 19.9%
Mid cap ($2-10bn) 41.1%
Small cap (<$2bn) 39.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DEXCOM INC 3.7 %
SEATTLE GENETICS INC 3.6 %
BIOMARIN PHARMACEUTICAL INC 3.2 %
ALNYLAM PHARMACEUTICALS INC 3.0 %
EXACT SCIENCES CORP 2.6 %
MYLAN N.V. 2.5 %
AVANTOR, INC. 2.3 %
IONIS PHARMACEUTICALS, INC. 2.3 %
NOVOCURE LIMITED 2.2 %
SAGE THERAPEUTICS INC 2.2 %
Total 27.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.7 %
BRITAIN 4.8 %
IRELAND 2.8 %
NETHERLANDS 1.7 %
SWITZERLAND 0.8 %
CAYMAN ISLANDS 0.3 %





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.
17.0% 2.8% -- -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 1.45 52%
MSCI EAFE 0.96 19%
MSCI Emg. Mkts. 0.81 22%

Technical Indicators
Recent close $33.70
30d moving avg. $31.95
Annualized volatility 24.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $4,644

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Principal Healthcare Innovators Index 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™: -4.6%


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 48.6 35 7 -5.1 -0.5
IBB iShares NASDAQ Biotechnology 33.0 47 -5 1.3 +5.9
BBC Virtus LifeSci Biotech Clinical Trials 30.0 79 -37 -14.5 -9.9
FBT First Trust NYSE-ARCA Biotechnology 24.6 57 -15 -0.8 +3.8
BBP BioShares Biotech Products 24.2 79 -37 -3.9 +0.7
IDNA iShares Genomics Immunology and Healthcare 22.4 47 -5 -4.9 -0.3
GDNA Goldman Sachs Motif Human Evolution 20.6 50 -8 1.0 +5.6
SBIO ALPS Medical Breakthroughs 20.4 50 -8 -6.2 -1.6
GNOM Global X Genomics & Biotechnology 19.0 68 -26 -6.5 -1.9
IEIH iShares Evolved U.S. Innovative Healthcare 18.5 18 24 4.9 +9.5
BBH VanEck Vectors Biotech 17.1 35 7 5.5 +10.0
PTH Invesco DWA Healthcare Momentum 17.0 60 -18 -1.4 +3.2
IWO iShares Russell 2000 Growth 15.7 24 18 0.9 +5.5
VTWG Vanguard Russell 2000 Growth 15.1 20 22 0.9 +5.5
JKK iShares Morningstar Small Cap Growth 13.7 30 12 1.1 +5.7
HTEC Robo Global Healthcare Technology and Innovation 12.6 68 -26 0.0 +4.6
IHE iShares DJ US Pharmaceuticals 12.4 42 0 5.6 +10.2
CNCR Loncar Cancer Immunotherapy 11.4 79 -37 -3.8 +0.8
XPH SPDR S&P Pharmaceuticals ETF 11.0 35 7 4.8 +9.4
FTXH First Trust Nasdaq Pharmaceuticals 10.6 60 -18 5.6 +10.2

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:
Principal Healthcare Innovators Index
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 -25.9 %
Divided by: Fwd. P/BV 6.2 x
Less: Expense ratio 42 bp
Equals: ALTAR Score -4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.31 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.