iShares U.S. Medical Devices ETF
ALTAR
Score™
4.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.0x P/Sales
ratio
4.3x
P/BV
ratio
3.5x Div.
yield
0.9%


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

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date May 05, 2006
Assets (mns) $4,053
Currency USD
Expense ratio 43 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 57
Wgt avg mkt cap (mns) $72,996
Large cap (>$10bn) 90.0%
Mid cap ($2-10bn) 7.7%
Small cap (<$2bn) 2.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ABBOTT LABORATORIES 13.9 %
MEDTRONIC PLC 12.1 %
THERMO FISHER SCIENTIFIC INC 11.3 %
DANAHER CORP 8.2 %
BAXTER INTERNATIONAL INC 4.9 %
BECTON DICKINSON AND CO 4.5 %
INTUITIVE SURGICAL INC 4.4 %
STRYKER CORP 4.3 %
EDWARDS LIFESCIENCES CORP 4.2 %
BOSTON SCIENTIFIC CORP 3.8 %
Total 71.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 85.4 %
IRELAND 13.5 %
NETHERLANDS 0.4 %
BRITAIN 0.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.7% -2.3% 14.0% 15.0% 12.4%

Market Correlations
versus... Beta R-squared
S&P500 0.88 70%
MSCI EAFE 0.77 52%
MSCI Emg. Mkts. 0.55 39%

Technical Indicators
Recent close $220.87
30d moving avg. $231.13
Annualized volatility 15.9%
Short interest (ETF) 10.1%
Short interest (Underlying) 3.1%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 589
Turnover 3.2%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $12,277

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares U.S. Medical Devices ETF ETF based on the alternatives' overlap in portfolio holdings with IHI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IHI Expense: 43 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IHI
Ticker Fund
Name
Overlap1
vs IHI
(%)
Expense
ratio
(bp)
Savings
vs IHI
(bp)
ALTAR
Score™
(%)
ALTAR
vs IHI
(%)
IEHS iShares Evolved U.S. Healthcare Staples ETF 47.4 18 25 6.9 +2.5
XHE SPDR S&P Health Care Equipment ETF 37.6 35 8 2.7 -1.8
RYH Invesco S&P 500 Equal Weight Health Care ETF 28.8 40 3 7.9 +3.5
GDNA Goldman Sachs Motif Human Evolution ETF 28.0 50 -7 0.6 -3.8
IYH iShares U.S. Healthcare ETF 26.9 43 0 7.1 +2.7
XLV Health Care Select Sector SPDR Fund 26.9 13 30 8.1 +3.7
VHT Vanguard Health Care Index Fund 26.1 10 33 6.5 +2.1
FHLC Fidelity MSCI Health Care Index ETF 25.8 8 35 6.6 +2.2
JHMH John Hancock Multifactor Healthcare ETF 25.3 40 3 7.2 +2.8
LNGR Global X Longevity Thematic ETF 24.1 50 -7 4.4 -0.0
HTEC ROBO Global Healthcare Technology & Innovation ETF 21.3 68 -25 1.0 -3.4
FXH First Trust Health Care AlphaDEX Fund 20.4 62 -19 6.6 +2.2
IXJ iShares Global Healthcare ETF 18.0 46 -3 7.2 +2.8
PTH Invesco DWA Healthcare Momentum ETF 17.9 60 -17 -4.3 -8.7
ACT AdvisorShares Vice ETF 14.0 99 -56 7.2 +2.8
CLRG IQ Chaikin U.S. Large Cap ETF 12.8 25 18 11.5 +7.1
PWB Invesco Dynamic Large Cap Growth ETF 12.4 55 -12 4.6 +0.2
CWS AdvisorShares Focused Equity ETF 12.4 85 -42 6.8 +2.4
JKE iShares Morningstar Large-Cap Growth ETF 10.6 25 18 4.7 +0.3
IQM Franklin Intelligent Machines ETF 10.5 50 -7 3.6 -0.9
NUMG Nuveen ESG Mid-Cap Growth ETF 10.5 40 3 4.6 +0.2
HLAL Wahed FTSE USA Shariah ETF 9.8 50 -7 6.2 +1.8
PIO Invesco Global Water ETF 9.6 75 -32 5.2 +0.8
PHO Invesco Water Resources ETF 9.6 60 -17 4.9 +0.5
MTUM iShares Edge MSCI USA Momentum Factor ETF 8.9 15 28 5.7 +1.3
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 8.9 75 -32 4.1 -0.3
FDMO Fidelity Momentum Factor ETF 8.3 29 14 5.5 +1.1
JKH iShares Morningstar Mid-Cap Growth ETF 8.1 30 13 3.6 -0.8
VIG Vanguard Dividend Appreciation Index Fund 8.0 6 37 6.3 +1.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 7.2 12 31 6.3 +1.9
FPX First Trust US IPO Index Fund 7.2 59 -16 6.7 +2.3
HUSV First Trust Horizon Managed Volatility Domestic ETF 7.2 70 -27 6.6 +2.2
FIW First Trust Water ETF 7.1 55 -12 5.1 +0.7
JMIN JPMorgan U.S. Minimum Volatility ETF 7.1 12 31 7.2 +2.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.0 49 -6 5.5 +1.1
KNOW Direxion All Cap Insider Sentiment Shares 6.9 59 -16 7.2 +2.8
FLLV Franklin Liberty U.S. Low Volatility ETF 6.9 29 14 7.1 +2.7
SPMO Invesco S&P 500 Momentum ETF 6.5 13 30 5.3 +0.9
DEF Invesco Defensive Equity ETF 6.4 55 -12 6.4 +2.0
PDP Invesco DWA Momentum ETF 6.3 62 -19 4.4 +0.0
QMOM Alpha Architect U.S. Quantitative Momentum ETF 6.2 49 -6 5.1 +0.7
VOT Vanguard Mid-Cap Growth Index Fund 6.1 7 36 5.0 +0.6
HECO EcoLogical Strategy ETF 6.1 107 -64 4.3 -0.1
FTC First Trust Large Cap Growth AlphaDEX Fund 6.0 61 -18 4.4 -0.0
LRGF iShares Edge MSCI Multifactor USA ETF 6.0 20 23 9.0 +4.6
PSET Principal Price Setters Index ETF 5.9 29 14 7.1 +2.7
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 5.9 20 23 10.4 +6.0
JMOM JPMorgan U.S. Momentum Factor ETF 5.9 12 31 5.2 +0.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 5.9 65 -22 4.4 +0.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 5.9 60 -17 6.0 +1.6
IWP iShares Russell Mid-Cap Growth ETF 5.7 24 19 6.0 +1.6
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 5.7 49 -6 7.6 +3.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 5.6 17 26 9.0 +4.6
CGW Invesco S&P Global Water Index ETF 5.6 62 -19 5.1 +0.7
VBK Vanguard Small-Cap Growth Index Fund 5.6 7 36 3.9 -0.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 5.5 66 -23 4.2 -0.2
SPXT ProShares S&P 500 Ex-Technology ETF 5.5 27 16 7.3 +2.9
ETHO Etho Climate Leadership U.S. ETF 5.5 47 -4 6.7 +2.3
IWX iShares Russell Top 200 Value ETF 5.4 20 23 8.7 +4.3
PJP Invesco Dynamic Pharmaceuticals ETF 5.4 56 -13 12.5 +8.1
NULG Nuveen ESG Large-Cap Growth ETF 5.4 35 8 4.8 +0.4
PRN Invesco DWA Industrials Momentum ETF 5.3 60 -17 15.1 +10.7
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 5.3 25 18 10.1 +5.7
PFM Invesco Dividend Achievers ETF 5.1 54 -11 6.4 +2.0
SCHG Schwab U.S. Large-Cap Growth ETF 5.1 4 39 5.6 +1.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 5.0 35 8 7.6 +3.2
AIEQ AI Powered Equity ETF 5.0 87 -44 5.1 +0.7
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 5.0 75 -32 7.0 +2.6
NOBL ProShares S&P 500 Dividend Aristocrats ETF 5.0 35 8 7.5 +3.1
TMDV ProShares Russell US Dividend Growers ETF 5.0 35 8 6.5 +2.1
KOMP SPDR Kensho New Economies Composite ETF 5.0 20 23 2.8 -1.6
IQSU IQ Candriam ESG US Equity ETF 5.0 9 34 6.7 +2.3
CATH Global X S&P 500 Catholic Values Custom ETF 4.9 29 14 7.0 +2.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 4.8 19 24 8.3 +3.9
MOAT VanEck Vectors Morningstar Wide Moat ETF 4.8 49 -6 8.1 +3.7
SPXN ProShares S&P 500 Ex-Financials ETF 4.8 27 16 6.6 +2.2
DTEC ALPS Disruptive Technologies ETF 4.7 50 -7 5.1 +0.7
FTXH First Trust Nasdaq Pharmaceuticals ETF 4.7 60 -17 7.9 +3.5
KRMA Global X Conscious Companies ETF 4.7 43 0 7.3 +2.9
ESGV Vanguard ESG U.S. Stock ETF 4.7 12 31 7.0 +2.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 4.7 70 -27 4.5 +0.1
VUG Vanguard Growth Index Fund 4.6 4 39 5.5 +1.1
BTEC Principal Healthcare Innovators Index ETF 4.6 42 1 -5.2 -9.6
RNLC Large Cap US Equity Select ETF 4.6 60 -17 8.2 +3.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 4.5 20 23 6.6 +2.2
HSPX Global X S&P 500 Covered Call ETF 4.5 65 -22 6.2 +1.8
EQWL Invesco Russell Top 200 Equal Weight ETF 4.5 25 18 7.5 +3.1
PBP Invesco S&P 500 BuyWrite ETF 4.5 49 -6 6.5 +2.1
BOTZ Global X Robotics & Artificial Intelligence ETF 4.4 68 -25 4.3 -0.1
VTWG Vanguard Russell 2000 Growth Index Fund 4.4 15 28 1.8 -2.6
IWO iShares Russell 2000 Growth ETF 4.4 24 19 1.6 -2.8
MGK Vanguard Mega Cap Growth ETF 4.4 7 36 5.6 +1.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 4.4 30 13 8.1 +3.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 4.3 15 28 6.9 +2.5
VONV Vanguard Russell 1000 Value Index Fund 4.3 8 35 9.3 +4.9
RSP Invesco S&P 500 Equal Weight ETF 4.3 20 23 8.8 +4.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 4.3 12 31 6.7 +2.3
IWL iShares Russell Top 200 ETF 4.3 15 28 6.6 +2.2
IUSG iShares Core S&P US Growth ETF 4.3 4 39 5.8 +1.4
SPXE ProShares S&P 500 Ex-Energy ETF 4.2 27 16 7.0 +2.6

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. Medical Devices ETF
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 16.2 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 43 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.51
 
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.