Fidelity MSCI Health Care Index ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.0x P/Sales
ratio
1.9x
P/BV
ratio
4.2x Div.
yield
1.5%


  • 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) $2,055
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 401
Wgt avg mkt cap (mns) $125,642
Large cap (>$10bn) 87.0%
Mid cap ($2-10bn) 9.3%
Small cap (<$2bn) 3.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 8.2 %
UNITEDHEALTH GROUP INC 6.1 %
MERCK & CO. INC. 4.5 %
PFIZER INC 4.3 %
ABBOTT LABORATORIES 3.9 %
THERMO FISHER SCIENTIFIC INC 3.6 %
ABBVIE INC 3.3 %
AMGEN INC 3.0 %
MEDTRONIC PLC 3.0 %
BRISTOL-MYERS SQUIBB CO 2.8 %
Total 42.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
IRELAND 4.0 %
BRITAIN 0.4 %
NETHERLANDS 0.1 %
SWITZERLAND 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
8.8% 23.8% 11.1% -- 13.5%

Market Correlations
versus... Beta R-squared
S&P500 0.79 73%
MSCI EAFE 0.75 55%
MSCI Emg. Mkts. 0.56 48%

Technical Indicators
Recent close $52.63
30d moving avg. $52.80
Annualized volatility 16.3%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.9%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 148
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $4,714

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.5%


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 97.2 10 -2 5.4 -0.1
IYH iShares U.S. Healthcare ETF 90.0 43 -35 6.2 +0.7
XLV Health Care Select Sector SPDR Fund 82.9 13 -5 7.2 +1.7
JHMH John Hancock Multifactor Healthcare ETF 77.3 40 -32 6.1 +0.6
IXJ iShares Global Healthcare ETF 67.0 46 -38 6.3 +0.8
IEHS iShares Evolved U.S. Healthcare Staples ETF 59.0 18 -10 5.6 +0.0
RYH Invesco S&P 500 Equal Weight Health Care ETF 53.5 40 -32 6.6 +1.0
IEIH iShares Evolved U.S. Innovative Healthcare ETF 49.4 18 -10 3.2 -2.3
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 36.1 60 -52 6.2 +0.7
FXH First Trust Health Care AlphaDEX Fund 35.6 62 -54 4.1 -1.5
PJP Invesco Dynamic Pharmaceuticals ETF 32.3 56 -48 12.7 +7.2
FTXH First Trust Nasdaq Pharmaceuticals ETF 32.2 60 -52 8.8 +3.3
GDNA Goldman Sachs Motif Human Evolution ETF 30.1 50 -42 0.6 -5.0
MTUM iShares Edge MSCI USA Momentum Factor ETF 29.1 15 -7 5.1 -0.4
IHI iShares U.S. Medical Devices ETF 27.8 42 -34 3.3 -2.2
VIRS Pacer BioThreat Strategy ETF 26.7 70 -62 4.6 -1.0
LNGR Global X Longevity Thematic ETF 26.3 50 -42 3.2 -2.4
IHE iShares U.S. Pharmaceuticals ETF 26.1 42 -34 5.4 -0.1
PPH VanEck Vectors Pharmaceutical ETF 26.1 36 -28 10.4 +4.9
JKD iShares Morningstar Large-Cap ETF 24.8 20 -12 8.0 +2.5
MGV Vanguard Mega Cap Value ETF 24.8 7 1 7.1 +1.6
HTEC ROBO Global Healthcare Technology & Innovation ETF 23.9 68 -60 0.2 -5.4
PWB Invesco Dynamic Large Cap Growth ETF 23.9 56 -48 3.7 -1.8
HLAL Wahed FTSE USA Shariah ETF 23.3 50 -42 6.5 +0.9
SPHQ Invesco S&P 500 Quality ETF 23.3 15 -7 5.2 -0.4
GBLO Global Beta Low Beta ETF 22.8 29 -21 6.9 +1.4
XPH SPDR S&P Pharmaceuticals ETF 22.2 35 -27 4.4 -1.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 22.1 12 -4 5.0 -0.5
VTV Vanguard Value Index Fund 20.9 4 4 7.2 +1.7
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 20.8 25 -17 5.8 +0.3
XHE SPDR S&P Health Care Equipment ETF 20.6 35 -27 1.5 -4.0
HDV iShares Core High Dividend ETF 20.4 8 0 6.8 +1.3
VOOV Vanguard S&P 500 Value ETF 20.4 10 -2 7.2 +1.7
IVE iShares S&P 500 Value ETF 20.0 18 -10 7.1 +1.6
SPYV SPDR Portfolio S&P 500 Value ETF 20.0 4 4 7.2 +1.7
ALTL Pacer Lunt Large Cap Alternator ETF 19.4 60 -52 5.1 -0.4
SPLV Invesco S&P 500 Low Volatility ETF 19.4 25 -17 5.5 -0.1
SPXT ProShares S&P 500 Ex-Technology ETF 19.3 27 -19 5.5 -0.1
OUSA O'Shares FTSE US Quality Dividend ETF 19.3 48 -40 6.4 +0.9
RBUS Nationwide Risk-Based U.S. Equity ETF 19.2 30 -22 4.7 -0.9
IUSV iShares Core S&P U.S. Value ETF 19.1 4 4 7.3 +1.8
IBB iShares NASDAQ Biotechnology ETF 18.4 46 -38 0.3 -5.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 17.9 49 -41 5.6 +0.1
FTCS First Trust Capital Strength ETF 17.6 58 -50 5.0 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 17.5 60 -52 5.4 -0.2
IWX iShares Russell Top 200 Value ETF 17.1 20 -12 6.7 +1.1
MXDU Nationwide Maximum Diversification US Core Equity ETF 16.9 34 -26 4.9 -0.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 16.8 30 -22 6.5 +1.0
JMIN JPMorgan U.S. Minimum Volatility ETF 16.8 12 -4 5.5 -0.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 16.4 19 -11 6.6 +1.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 16.3 17 -9 6.4 +0.9
IHF iShares U.S. Healthcare Providers ETF 16.3 42 -34 8.0 +2.4
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 16.3 49 -41 5.2 -0.3
RAFE PIMCO RAFI ESG U.S. ETF 16.2 29 -21 7.5 +2.0
ESGV Vanguard ESG U.S. Stock ETF 16.2 12 -4 5.8 +0.3
PWV Invesco Dynamic Large Cap Value ETF 16.1 56 -48 8.1 +2.6
SCHV Schwab U.S. Large-Cap Value ETF 16.1 4 4 7.0 +1.5
SPXN ProShares S&P 500 Ex-Financials ETF 16.0 27 -19 5.8 +0.2
DGRO iShares Core Dividend Growth ETF 15.9 8 0 6.8 +1.3
USMV iShares Edge MSCI Min Vol USA ETF 15.9 15 -7 5.5 -0.1
QUS SPDR MSCI USA StrategicFactors ETF 15.6 15 -7 6.1 +0.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 15.6 66 -58 2.5 -3.1
WOMN Impact Shares YWCA Women's Empowerment ETF 15.6 75 -67 5.2 -0.4
DGRW WisdomTree U.S. Quality Dividend Growth Fund 15.5 28 -20 7.2 +1.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 15.4 9 -1 6.1 +0.6
AIEQ AI Powered Equity ETF 15.4 87 -79 2.8 -2.7
QDEF FlexShares Quality Dividend Defensive Index Fund 15.4 37 -29 6.8 +1.3
VYM Vanguard High Dividend Yield Index ETF 15.3 6 2 7.3 +1.8
VIG Vanguard Dividend Appreciation Index Fund 15.2 6 2 5.2 -0.3
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 15.1 60 -52 3.2 -2.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 15.1 12 -4 6.2 +0.7
SFY SoFi Select 500 ETF 15.1 0 8 5.6 +0.0
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 15.0 35 -27 5.4 -0.2
DEF Invesco Defensive Equity ETF 14.9 55 -47 5.2 -0.3
AFLG First Trust Active Factor Large Cap ETF 14.9 55 -47 6.3 +0.7
FCPI Fidelity Stocks for Inflation ETF 14.9 29 -21 6.8 +1.2
PTH Invesco DWA Healthcare Momentum ETF 14.8 60 -52 -5.1 -10.6
CCOR Core Alternative ETF 14.8 109 -101 4.6 -0.9
QLC FlexShares US Quality Large Cap Index Fund 14.8 32 -24 5.9 +0.4
EQWL Invesco Russell Top 200 Equal Weight ETF 14.8 25 -17 6.1 +0.5
ROUS Hartford Multifactor US Equity ETF 14.8 19 -11 6.4 +0.9
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 14.7 9 -1 5.9 +0.4
DURA VanEck Vectors Morningstar Durable Dividend ETF 14.6 29 -21 6.9 +1.4
DIA SPDR Dow Jones Industrial Average ETF Trust 14.6 16 -8 5.6 +0.1
SCIU Global X Scientific Beta US ETF 14.5 19 -11 5.7 +0.2
XT iShares Exponential Technologies ETF 14.5 47 -39 5.1 -0.5
CACG ClearBridge All Cap Growth ETF 14.5 54 -46 4.6 -1.0
VTHR Vanguard Russell 3000 Index Fund 14.5 10 -2 5.6 +0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 14.4 0 8 6.0 +0.4
JVAL JPMorgan U.S. Value Factor ETF 14.3 12 -4 8.7 +3.2
IWL iShares Russell Top 200 ETF 14.3 15 -7 5.8 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 14.3 27 -19 6.0 +0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 14.3 28 -20 6.9 +1.4
IWP iShares Russell Mid-Cap Growth ETF 14.2 24 -16 3.0 -2.5
PBP Invesco S&P 500 BuyWrite ETF 14.2 49 -41 5.6 +0.0
FDRR Fidelity Dividend ETF for Rising Rates 14.2 29 -21 7.5 +2.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 14.2 20 -12 6.0 +0.5
SCHB Schwab U.S. Broad Market ETF 14.2 3 5 5.7 +0.2
QUAL iShares MSCI Usa Quality Factor ETF 14.2 15 -7 5.9 +0.3
JQUA JPMorgan U.S. Quality Factor ETF 14.2 12 -4 5.6 +0.1

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:
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 21.2 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 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.