iShares U.S. Pharmaceuticals ETF
ALTAR
Score™		 5.3% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 21.3x P/Sales
ratio		 3.6x
P/BV
ratio		 3.3x 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 01, 2006
Assets (mns) $351
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 43
Wgt avg mkt cap (mns) $151,956
Large cap (>$10bn) 70.2%
Mid cap ($2-10bn) 20.5%
Small cap (<$2bn) 9.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 21.7 %
MERCK & CO. INC. 18.9 %
CATALENT INC 5.5 %
HORIZON PHARMA PLC 5.3 %
ZOETIS INC 4.8 %
PFIZER INC 4.7 %
ELI LILLY & CO 4.4 %
BRISTOL-MYERS SQUIBB CO 4.3 %
ELANCO ANIMAL HEALTH, INC. 4.1 %
MYLAN N.V. 3.7 %
Total 77.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 83.6 %
IRELAND 11.6 %
BRITAIN 3.7 %
CAYMAN ISLANDS 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.9% 10.6% -1.4% 12.5% 10.2%

Market Correlations
versus... Beta R-squared
S&P500 0.88 74%
MSCI EAFE 0.84 56%
MSCI Emg. Mkts. 0.57 43%

Technical Indicators
Recent close $163.11
30d moving avg. $157.59
Annualized volatility 17.6%
Short interest (ETF) 0.3%
Short interest (Underlying) 5.8%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $5,584

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares U.S. Pharmaceuticals ETF 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™: 5.3%


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 63.9 35 7 4.4 -0.9
FTXH First Trust Nasdaq Pharmaceuticals ETF 55.6 60 -18 8.6 +3.3
PPH VanEck Vectors Pharmaceutical ETF 44.8 36 6 10.0 +4.7
IEIH iShares Evolved U.S. Innovative Healthcare ETF 36.4 18 24 3.1 -2.2
PJP Invesco Dynamic Pharmaceuticals ETF 33.8 56 -14 10.8 +5.5
XLV Health Care Select Sector SPDR Fund 28.3 13 29 7.0 +1.7
IYH iShares U.S. Healthcare ETF 27.4 43 -1 6.1 +0.7
FHLC Fidelity MSCI Health Care Index ETF 25.8 8 34 5.4 +0.1
VHT Vanguard Health Care Index Fund 25.2 10 32 5.3 +0.0
JHMH John Hancock Multifactor Healthcare ETF 21.0 40 2 5.9 +0.6
IXJ iShares Global Healthcare ETF 19.7 46 -4 6.2 +0.9
HDV iShares Core High Dividend ETF 15.9 8 34 6.7 +1.4
OUSA O'Shares FTSE US Quality Dividend ETF 13.1 48 -6 5.5 +0.2
DURA VanEck Vectors Morningstar Durable Dividend ETF 12.9 29 13 7.0 +1.7
RYH Invesco S&P 500 Equal Weight Health Care ETF 12.3 40 2 6.4 +1.1
DJD Invesco Dow Jones Industrial Average Dividend ETF 11.5 7 35 6.8 +1.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 11.4 12 30 4.6 -0.7
QLV FlexShares US Quality Low Volatility Index Fund 11.0 22 20 4.6 -0.7
VYM Vanguard High Dividend Yield Index ETF 10.7 6 36 7.3 +2.0
EDOW First Trust Dow 30 Equal Weight ETF 10.6 50 -8 5.8 +0.5
HLAL Wahed FTSE USA Shariah ETF 10.0 50 -8 4.3 -1.0
FTCS First Trust Capital Strength ETF 9.9 58 -16 4.6 -0.8
MGV Vanguard Mega Cap Value ETF 9.9 7 35 7.2 +1.9
PAWZ ProShares Pet Care ETF 9.7 50 -8 2.4 -2.9
FXH First Trust Health Care AlphaDEX Fund 9.7 62 -20 3.8 -1.5
JKF iShares Morningstar Large Cap Value ETF 9.6 25 17 7.5 +2.2
DGRO iShares Core Dividend Growth ETF 9.5 8 34 6.5 +1.2
FLV American Century Focused Large Cap Value ETF 9.3 42 0 6.4 +1.1
RAFE PIMCO RAFI ESG U.S. ETF 8.9 29 13 7.5 +2.2
REVS Columbia Research Enhanced Value ETF 8.9 19 23 7.3 +2.0
SCHV Schwab U.S. Large-Cap Value ETF 8.9 4 38 7.1 +1.8
MTUM iShares Edge MSCI USA Momentum Factor ETF 8.7 15 27 4.1 -1.3
SYV SPDR MFS Systematic Value Equity ETF 8.5 60 -18 7.3 +2.0
VTV Vanguard Value Index Fund 8.4 4 38 7.3 +2.0
SPHQ Invesco S&P 500 Quality ETF 8.1 15 27 4.5 -0.8
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 8.1 75 -33 6.3 +1.0
SDGA Impact Shares Sustainable Development Goals Global ETF 7.9 75 -33 5.2 -0.1
NACP Impact Shares NAACP Minority Empowerment ETF 7.8 75 -33 4.5 -0.8
VIRS Pacer BioThreat Strategy ETF 7.7 70 -28 4.5 -0.9
SHE SPDR SSGA Gender Diversity Index ETF 7.7 20 22 4.8 -0.6
DHS WisdomTree U.S. High Dividend Fund 7.7 38 4 8.5 +3.2
STLV iShares Factors US Value Style ETF 7.6 25 17 6.9 +1.6
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 7.5 35 7 6.7 +1.4
DLN WisdomTree U.S. LargeCap Dividend Fund 7.4 28 14 6.3 +1.0
DGRW WisdomTree U.S. Quality Dividend Growth Fund 7.2 28 14 6.3 +1.0
LSLT Salt Low truBeta US Market ETF 7.2 29 13 5.9 +0.5
QUAL iShares MSCI Usa Quality Factor ETF 7.2 15 27 5.3 -0.1
SYE SPDR MFS Systematic Core Equity ETF 7.1 60 -18 5.5 +0.2
LEAD Reality Shares DIVCON Leaders Dividend ETF 7.1 43 -1 4.3 -1.0
XLG Invesco S&P 500 Top 50 ETF 7.1 20 22 4.3 -1.0
QDEF FlexShares Quality Dividend Defensive Index Fund 7.1 37 5 5.7 +0.4
BVAL Brand Value ETF 7.1 65 -23 5.5 +0.2
BTEC Principal Healthcare Innovators Index ETF 7.1 42 0 -2.5 -7.8
PTH Invesco DWA Healthcare Momentum ETF 7.0 60 -18 -4.8 -10.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 7.0 52 -10 4.8 -0.5
QVM Arrow QVM Equity Factor ETF 6.9 65 -23 4.9 -0.4
DIA SPDR Dow Jones Industrial Average ETF Trust 6.9 16 26 5.4 +0.1
IEHS iShares Evolved U.S. Healthcare Staples ETF 6.8 18 24 5.4 +0.1
FDLO Fidelity Low Volatility Factor ETF 6.8 29 13 5.0 -0.4
CNCR Loncar Cancer Immunotherapy ETF 6.8 79 -37 -2.8 -8.1
IWX iShares Russell Top 200 Value ETF 6.8 20 22 6.7 +1.4
MOO VanEck Vectors Agribusiness ETF 6.7 56 -14 5.2 -0.1
IOO iShares Global 100 ETF 6.6 40 2 4.6 -0.7
PWV Invesco Dynamic Large Cap Value ETF 6.6 55 -13 8.7 +3.4
DTD WisdomTree U.S.Total Dividend Fund 6.6 28 14 6.5 +1.2
YLDE ClearBridge Dividend Strategy ESG ETF 6.6 60 -18 4.8 -0.5
USDY Pacific Global US Equity Income ETF 6.6 29 13 7.1 +1.8
RECS Columbia Research Enhanced Core ETF 6.5 15 27 5.4 +0.1
QDF FlexShares Quality Dividend Index Fund 6.4 37 5 6.0 +0.7
JQUA JPMorgan U.S. Quality Factor ETF 6.4 12 30 5.2 -0.1
FVAL Fidelity Value Factor ETF 6.4 29 13 7.7 +2.4
CCOR Core Alternative ETF 6.4 123 -81 4.3 -1.0
IBB iShares NASDAQ Biotechnology ETF 6.4 47 -5 0.3 -5.0
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 6.4 60 -18 6.0 +0.7
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 6.3 49 -7 3.8 -1.5
WOMN Impact Shares YWCA Women's Empowerment ETF 6.3 75 -33 3.9 -1.4
MOAT VanEck Vectors Morningstar Wide Moat ETF 6.2 49 -7 6.3 +1.0
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 6.2 49 -7 4.5 -0.8
SPYV SPDR Portfolio S&P 500 Value ETF 6.1 4 38 7.3 +1.9
IVE iShares S&P 500 Value ETF 6.1 18 24 7.1 +1.8
VOOV Vanguard S&P 500 Value ETF 6.1 15 27 7.1 +1.8
QUS SPDR MSCI USA StrategicFactors ETF 6.1 15 27 5.7 +0.4
FCPI Fidelity Stocks for Inflation ETF 6.0 29 13 6.7 +1.4
FPX First Trust US IPO Index Fund 6.0 58 -16 2.4 -3.0
RNDV US Equity Dividend Select ETF 6.0 50 -8 8.0 +2.6
VFMV Vanguard U.S. Minimum Volatility ETF 5.9 13 29 3.9 -1.4
OEF iShares S&P 100 ETF 5.9 20 22 4.6 -0.7
SPXT ProShares S&P 500 Ex-Technology ETF 5.8 27 15 5.4 +0.1
SPLV Invesco S&P 500 Low Volatility ETF 5.7 25 17 5.5 +0.2
IUSV iShares Core S&P U.S. Value ETF 5.7 4 38 7.3 +2.0
FTHI First Trust High Income ETF 5.7 85 -43 4.8 -0.6
ROUS Hartford Multifactor US Equity ETF 5.7 19 23 7.0 +1.7
HUSV First Trust Horizon Managed Volatility Domestic ETF 5.7 70 -28 4.6 -0.7
USMV iShares Edge MSCI Min Vol USA ETF 5.6 15 27 5.4 +0.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 5.6 10 32 5.2 -0.1
SUSL iShares ESG MSCI USA Leaders ETF 5.6 10 32 5.2 -0.1
VIG Vanguard Dividend Appreciation Index Fund 5.6 6 36 5.2 -0.1
SYG SPDR MFS Systematic Growth Equity ETF 5.6 60 -18 4.1 -1.2
FTLB First Trust Hedged BuyWrite Income ETF 5.6 85 -43 4.8 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 5.4 60 -18 4.0 -1.4

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:		 iShares U.S. Pharmaceuticals 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 17.6 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.35 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.