iShares Evolved U.S. Innovative Healthcare
ALTAR
Score™
4.4% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
24.3x P/Sales
ratio
5.1x
P/BV
ratio
4.6x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
IEIH tracks an index that offers US pharmaceutical and biotechnology exposure as defined by the iShares Evolved Sector classification scheme.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Mar 21, 2018
Assets (mns) $6
Currency USD
Expense ratio 18 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 215
Wgt avg mkt cap (mns) $114,887
Large cap (>$10bn) 78.7%
Mid cap ($2-10bn) 12.8%
Small cap (<$2bn) 8.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 10.1 %
MERCK & CO. INC. 7.6 %
BRISTOL-MYERS SQUIBB CO 7.5 %
PFIZER INC 6.1 %
ABBVIE INC 5.3 %
AMGEN INC 5.0 %
VERTEX PHARMACEUTICALS INC 4.7 %
ELI LILLY & CO 4.5 %
GILEAD SCIENCES INC 4.1 %
BIOGEN IDEC INC 4.0 %
Total 58.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.4 %
IRELAND 4.3 %
BRITAIN 0.8 %
CANADA 0.5 %
SINGAPORE 0.1 %
CAYMAN ISLANDS 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.
18.7% 7.7% -- -- 11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.99 69%
MSCI EAFE 1.04 54%
MSCI Emg. Mkts. 0.80 47%

Technical Indicators
Recent close $27.84
30d moving avg. $26.47
Annualized volatility 18.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 78

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $16,381

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Evolved U.S. Innovative Healthcare ETF based on the alternatives' overlap in portfolio holdings with IEIH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IEIH Expense: 18 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEIH
Ticker Fund
Name
Overlap1
vs IEIH
(%)
Expense
ratio
(bp)
Savings
vs IEIH
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEIH
(%)
IYH iShares US Healthcare 51.5 43 -25 6.2 +1.8
FHLC Fidelity MSCI Health Care 51.3 8 10 5.7 +1.4
VHT Vanguard Health Care 49.8 10 8 5.9 +1.5
XLV Health Care Select Sector SPDR 49.4 13 5 7.2 +2.8
PJP Invesco Dynamic Pharmaceuticals 47.5 56 -38 9.3 +4.9
PBE Invesco Dynamic Biotechnology & Genome 47.4 57 -39 -0.5 -4.9
IBB iShares NASDAQ Biotechnology 42.8 47 -29 0.4 -4.0
IHE iShares DJ US Pharmaceuticals 42.6 42 -24 5.3 +1.0
JHMH John Hancock Multifactor Health Care 42.2 40 -22 6.6 +2.2
FTXH First Trust Nasdaq Pharmaceuticals 41.3 60 -42 5.4 +1.0
PPH VanEck Vectors Pharmaceuticals 35.6 36 -18 9.4 +5.0
IXJ iShares S&P Global Healthcare 34.5 46 -28 6.3 +1.9
BBH VanEck Vectors Biotech 32.8 35 -17 4.5 +0.1
XPH SPDR S&P Pharmaceuticals ETF 31.2 35 -17 4.3 -0.1
XBI SPDR S&P Biotech ETF 30.2 35 -17 -4.4 -8.8
RYH Invesco S&P Equal Weight Healthcare 28.5 40 -22 7.0 +2.6
FBT First Trust NYSE-ARCA Biotechnology 27.6 57 -39 -0.7 -5.1
FXH First Trust Health Care Alphadex 27.2 63 -45 7.0 +2.6
LNGR Global X Longevity Thematic 25.8 50 -32 3.3 -1.1
DURA VanEck Vectors Morningstar Durable Dividend 24.3 29 -11 6.7 +2.3

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:
iShares Evolved U.S. Innovative Healthcare
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 18.4 %
Divided by: Fwd. P/BV 4.0 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.56
 
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.