Fidelity MSCI Health Care Index ETF
ALTAR
Score™
5.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.0x P/Sales
ratio
2.0x
P/BV
ratio
4.4x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity MSCI Health Care Index ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Health Care Index.

FUND BASICS
Category US Equities
Fund Sponsor FMR LLC
Website www.fidelity.com
Inception date Oct 21, 2013
Assets (mns) $2,270
Currency USD
Expense ratio 8 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 392
Wgt avg mkt cap (mns) $126,030
Large cap (>$10bn) 87.5%
Mid cap ($2-10bn) 9.2%
Small cap (<$2bn) 3.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 7.6 %
UNITEDHEALTH GROUP INC 6.4 %
PFIZER INC 4.2 %
MERCK & CO. INC. 4.0 %
ABBOTT LABORATORIES 3.8 %
ABBVIE INC 3.7 %
THERMO FISHER SCIENTIFIC INC 3.7 %
MEDTRONIC PLC 3.0 %
DANAHER CORP 2.9 %
BRISTOL-MYERS SQUIBB CO 2.8 %
Total 42.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.8 %
IRELAND 4.0 %
BRITAIN 0.7 %
SWITZERLAND 0.1 %
CANADA 0.1 %
NETHERLANDS 0.0 %
CAYMAN ISLANDS 0.0 %
PUERTO RICO 0.0 %
BERMUDA 0.0 %
SINGAPORE 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
13.4% 17.2% 12.0% -- 13.6%

Market Correlations
versus... Beta R-squared
S&P500 0.79 76%
MSCI EAFE 0.70 59%
MSCI Emg. Mkts. 0.58 51%

Technical Indicators
Recent close $56.39
30d moving avg. $54.57
Annualized volatility 17.0%
Short interest (ETF) 0.3%
Short interest (Underlying) 2.9%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 234
Turnover 0.6%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $38,142

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Fidelity MSCI Health Care Index ETF ETF based on the alternatives' overlap in portfolio holdings with FHLC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FHLC Expense: 8 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FHLC
Ticker Fund
Name
Overlap1
vs FHLC
(%)
Expense
ratio
(bp)
Savings
vs FHLC
(bp)
ALTAR
Score™
(%)
ALTAR
vs FHLC
(%)
VHT Vanguard Health Care Index Fund 95.7 10 -2 5.4 -0.2
IYH iShares U.S. Healthcare ETF 90.2 43 -35 6.3 +0.7
XLV Health Care Select Sector SPDR Fund 82.3 13 -5 7.3 +1.7
JHMH John Hancock Multifactor Healthcare ETF 77.9 40 -32 6.2 +0.6
IXJ iShares Global Healthcare ETF 67.4 46 -38 6.5 +0.8
IEHS iShares Evolved U.S. Healthcare Staples ETF 60.1 18 -10 5.4 -0.2
RYH Invesco S&P 500 Equal Weight Health Care ETF 53.3 40 -32 6.8 +1.2
IEIH iShares Evolved U.S. Innovative Healthcare ETF 47.6 18 -10 3.6 -2.0
FXH First Trust Health Care AlphaDEX Fund 37.3 62 -54 5.0 -0.6
FTXH First Trust Nasdaq Pharmaceuticals ETF 31.9 60 -52 5.8 +0.2
PJP Invesco Dynamic Pharmaceuticals ETF 30.8 56 -48 13.4 +7.8
IHI iShares U.S. Medical Devices ETF 27.9 42 -34 3.3 -2.3
MTUM iShares MSCI USA Momentum Factor ETF 27.8 15 -7 3.0 -2.6
VIRS Pacer BioThreat Strategy ETF 26.4 70 -62 4.7 -0.9
LNGR Global X Longevity Thematic ETF 25.8 50 -42 3.2 -2.5
PPH VanEck Vectors Pharmaceutical ETF 25.6 36 -28 11.2 +5.5
IHE iShares U.S. Pharmaceuticals ETF 25.0 42 -34 7.3 +1.7
JKD iShares Morningstar Large-Cap ETF 24.5 20 -12 5.4 -0.3
HLAL Wahed FTSE USA Shariah ETF 24.1 50 -42 4.2 -1.5
PWB Invesco Dynamic Large Cap Growth ETF 23.2 56 -48 3.3 -2.4
MGV Vanguard Mega Cap Value ETF 23.1 7 1 6.7 +1.1
HTEC ROBO Global Healthcare Technology & Innovation ETF 22.6 68 -60 0.4 -5.2
SPHQ Invesco S&P 500 Quality ETF 22.0 15 -7 4.4 -1.2
GBLO Global Beta Low Beta ETF 21.5 29 -21 7.2 +1.6
XPH SPDR S&P Pharmaceuticals ETF 21.4 35 -27 4.5 -1.1
DURA VanEck Vectors Morningstar Durable Dividend ETF 20.7 29 -21 8.2 +2.5
VOOV Vanguard S&P 500 Value ETF 20.5 10 -2 6.8 +1.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 20.4 12 -4 5.1 -0.5
XHE SPDR S&P Health Care Equipment ETF 19.8 35 -27 1.7 -3.9
RBUS Nationwide Risk-Based U.S. Equity ETF 19.8 30 -22 4.8 -0.8
VTV Vanguard Value Index Fund 19.6 4 4 6.8 +1.1
SPLV Invesco S&P 500 Low Volatility ETF 19.4 25 -17 5.7 +0.0
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 19.3 25 -17 6.1 +0.5
SPYV SPDR Portfolio S&P 500 Value ETF 19.2 4 4 6.8 +1.2
IVE iShares S&P 500 Value ETF 19.2 18 -10 6.7 +1.1
ANEW ProShares MSCI Transformational Changes ETF 18.9 45 -37 2.7 -3.0
OUSA O'Shares FTSE US Quality Dividend ETF 18.9 48 -40 5.5 -0.1
SPXT ProShares S&P 500 Ex-Technology ETF 18.4 27 -19 5.2 -0.5
IUSV iShares Core S&P U.S. Value ETF 18.3 4 4 6.9 +1.2
PTH Invesco DWA Healthcare Momentum ETF 18.1 60 -52 -2.6 -8.3
BMED BlackRock Future Health ETF 18.0 85 -77 -0.8 -6.4
IHF iShares U.S. Healthcare Providers ETF 17.7 42 -34 7.1 +1.4
ESGV Vanguard ESG U.S. Stock ETF 17.6 12 -4 4.7 -0.9
SPMO Invesco S&P 500 Momentum ETF 17.4 13 -5 4.0 -1.6
HDV iShares Core High Dividend ETF 17.2 8 0 6.7 +1.1
IBB iShares NASDAQ Biotechnology ETF 16.9 46 -38 0.3 -5.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 16.6 34 -26 4.5 -1.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 16.5 30 -22 5.5 -0.1
JMIN JPMorgan U.S. Minimum Volatility ETF 16.5 12 -4 5.4 -0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 16.4 49 -41 3.9 -1.8
PWV Invesco Dynamic Large Cap Value ETF 16.2 56 -48 7.7 +2.1
IWX iShares Russell Top 200 Value ETF 16.2 20 -12 6.3 +0.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 16.1 66 -58 2.1 -3.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 16.1 60 -52 3.8 -1.8
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 16.0 75 -67 2.7 -3.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 15.9 19 -11 5.6 -0.1
FTC First Trust Large Cap Growth AlphaDEX Fund 15.8 61 -53 2.5 -3.2
RAFE PIMCO RAFI ESG U.S. ETF 15.5 29 -21 7.1 +1.5
SPXN ProShares S&P 500 Ex-Financials ETF 15.5 27 -19 4.7 -1.0
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 15.4 35 -27 5.3 -0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 15.4 35 -27 5.3 -0.3
DGRO iShares Core Dividend Growth ETF 15.3 8 0 6.2 +0.6
USMV iShares Edge MSCI Min Vol USA ETF 15.1 15 -7 5.4 -0.2
VIG Vanguard Dividend Appreciation Index Fund 15.1 6 2 5.1 -0.6
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 15.1 17 -9 6.4 +0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 15.1 9 -1 5.0 -0.6
WOMN Impact Shares YWCA Women's Empowerment ETF 14.9 75 -67 3.9 -1.8
QDEF FlexShares Quality Dividend Defensive Index Fund 14.9 37 -29 5.8 +0.1
IWP iShares Russell Mid-Cap Growth ETF 14.9 24 -16 2.9 -2.8
FTCS First Trust Capital Strength ETF 14.8 58 -50 5.2 -0.5
QUS SPDR MSCI USA StrategicFactors ETF 14.8 15 -7 5.5 -0.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 14.8 35 -27 5.2 -0.4
DGRW WisdomTree U.S. Quality Dividend Growth Fund 14.6 28 -20 6.2 +0.6
SFY SoFi Select 500 ETF 14.6 0 8 4.8 -0.9
DEF Invesco Defensive Equity ETF 14.5 55 -47 5.1 -0.5
QLC FlexShares US Quality Large Cap Index Fund 14.4 32 -24 5.0 -0.7
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 14.4 49 -41 4.8 -0.9
CCOR Core Alternative ETF 14.4 109 -101 4.2 -1.5
TPLC Timothy Plan US Large Cap Core ETF 14.4 52 -44 4.8 -0.9
ROUS Hartford Multifactor US Equity ETF 14.4 19 -11 6.2 +0.6
VYM Vanguard High Dividend Yield Index ETF 14.3 6 2 6.9 +1.3
FCPI Fidelity Stocks for Inflation ETF 14.3 29 -21 6.2 +0.5
XHS SPDR S&P Health Care Services ETF 14.2 35 -27 3.9 -1.8
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 14.2 35 -27 6.9 +1.2
SCHV Schwab U.S. Large-Cap Value ETF 14.2 4 4 6.4 +0.7
LVHD Legg Mason Low Volatility High Dividend ETF 14.1 27 -19 7.8 +2.2
RWL Invesco S&P 500 Revenue ETF 14.0 39 -31 6.6 +0.9
NACP Impact Shares NAACP Minority Empowerment ETF 14.0 75 -67 4.7 -1.0
PBP Invesco S&P 500 BuyWrite ETF 14.0 49 -41 4.6 -1.0
DIA SPDR Dow Jones Industrial Average ETF Trust 14.0 16 -8 5.2 -0.5
CACG ClearBridge All Cap Growth ETF 14.0 54 -46 4.0 -1.6
HIPR Direxion High Growth ETF 13.9 40 -32 4.3 -1.3
VTHR Vanguard Russell 3000 Index Fund 13.9 10 -2 4.7 -1.0
HSPX Global X S&P 500 Covered Call ETF 13.9 60 -52 4.5 -1.2
EQWL Invesco Russell Top 200 Equal Weight ETF 13.8 25 -17 5.8 +0.1
FDRR Fidelity Dividend ETF for Rising Rates 13.8 29 -21 6.3 +0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 13.8 28 -20 6.0 +0.4
ACIO Aptus Collared Income Opportunity ETF 13.8 79 -71 3.9 -1.7

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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:
Fidelity MSCI Health Care Index ETF
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 21.5 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.50
 
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.