iShares DJ US Pharmaceuticals
ALTAR
Score™
5.0% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.5x P/Sales
ratio
3.8x
P/BV
ratio
3.4x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares Dow Jones US Pharmaceuticals Index Fund seeks investment results that correspond to the price and yield of the Dow Jones US Select Pharmaceuticals Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date May 05, 2006
Assets (mns) $353
Currency USD
Expense ratio 42 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 45
Wgt avg mkt cap (mns) $165,861
Large cap (>$10bn) 68.6%
Mid cap ($2-10bn) 21.4%
Small cap (<$2bn) 10.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 22.5 %
MERCK & CO. INC. 18.1 %
ELI LILLY & CO 4.9 %
ZOETIS INC 4.7 %
ELANCO ANIMAL HEALTH, INC. 4.6 %
PFIZER INC 4.5 %
MYLAN N.V. 4.4 %
BRISTOL-MYERS SQUIBB CO 4.4 %
ALLERGAN PLC 4.3 %
CATALENT INC 3.5 %
Total 76.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 81.3 %
IRELAND 13.8 %
BRITAIN 4.4 %
CAYMAN ISLANDS 0.4 %
SINGAPORE 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
15.5% 15.5% 2.5% 12.3% 10.7%

Market Correlations
versus... Beta R-squared
S&P500 1.00 65%
MSCI EAFE 0.85 39%
MSCI Emg. Mkts. 0.58 31%

Technical Indicators
Recent close $160.61
30d moving avg. $159.89
Annualized volatility 15.0%
Short interest (ETF) 4.5%
Short interest (Underlying) 5.8%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 24
Turnover 1.1%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $5,075

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares DJ US Pharmaceuticals ETF based on the alternatives' overlap in portfolio holdings with IHE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IHE Expense: 42 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IHE
Ticker Fund
Name
Overlap1
vs IHE
(%)
Expense
ratio
(bp)
Savings
vs IHE
(bp)
ALTAR
Score™
(%)
ALTAR
vs IHE
(%)
XPH SPDR S&P Pharmaceuticals ETF 63.7 35 7 4.6 -0.4
FTXH First Trust Nasdaq Pharmaceuticals 54.9 60 -18 4.3 -0.7
PPH VanEck Vectors Pharmaceuticals 43.0 36 6 9.0 +4.0
IEIH iShares Evolved U.S. Innovative Healthcare 41.6 18 24 3.9 -1.1
PBE Invesco Dynamic Biotechnology & Genome 38.8 57 -15 10.8 +5.8
PJP Invesco Dynamic Pharmaceuticals 38.8 56 -14 10.8 +5.8
XLV Health Care Select Sector SPDR 31.2 13 29 7.0 +1.9
IYH iShares US Healthcare 30.1 43 -1 6.0 +1.0
FHLC Fidelity MSCI Health Care 29.0 8 34 5.6 +0.6
VHT Vanguard Health Care 28.8 10 32 5.6 +0.6
JHMH John Hancock Multifactor Health Care 24.2 40 2 6.4 +1.4
IXJ iShares S&P Global Healthcare 22.1 46 -4 6.1 +1.1
DURA VanEck Vectors Morningstar Durable Dividend 18.7 29 13 6.5 +1.5
FXH First Trust Health Care Alphadex 15.2 63 -21 6.8 +1.8
RYH Invesco S&P Equal Weight Healthcare 15.1 40 2 6.8 +1.7
SPHQ Invesco S&P 500 Quality 14.4 15 27 5.4 +0.4
OUSA O'Shares FTSE U.S. Quality Dividend 13.0 48 -6 5.7 +0.7
BTEC Principal Healthcare Innovators Index 12.8 42 0 -4.1 -9.1
FTCS First Trust Capital Strength 11.8 60 -18 5.1 +0.0
HDV iShares High Dividend 11.4 8 34 7.0 +2.0

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

  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 DJ US Pharmaceuticals
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 16.3 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.38 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.