iShares DJ US Medical Devices
ALTAR
Score™
3.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
28.5x P/Sales
ratio
5.1x
P/BV
ratio
4.3x Div.
yield
0.7%


  • 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) $4,679
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) $80,922
Large cap (>$10bn) 90.1%
Mid cap ($2-10bn) 7.4%
Small cap (<$2bn) 2.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MEDTRONIC PLC 13.1 %
ABBOTT LABORATORIES 13.0 %
THERMO FISHER SCIENTIFIC INC 10.9 %
DANAHER CORP 7.6 %
EDWARDS LIFESCIENCES CORP 4.8 %
INTUITIVE SURGICAL INC 4.8 %
BOSTON SCIENTIFIC CORP 4.3 %
BECTON DICKINSON AND CO 4.2 %
BAXTER INTERNATIONAL INC 4.1 %
STRYKER CORP 4.1 %
Total 70.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 84.7 %
IRELAND 12.9 %
BRITAIN 0.4 %
NETHERLANDS 0.4 %







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.
30.3% 20.4% 18.8% 18.2% 13.9%

Market Correlations
versus... Beta R-squared
S&P500 0.95 64%
MSCI EAFE 0.83 40%
MSCI Emg. Mkts. 0.61 35%

Technical Indicators
Recent close $259.93
30d moving avg. $252.11
Annualized volatility 14.3%
Short interest (ETF) 9.3%
Short interest (Underlying) 3.1%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 205
Turnover 1.1%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $6,353

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares DJ US Medical Devices 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™: 3.8%


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 46.6 18 25 5.9 +2.1
XHE SPDR S&P Health Care Equipment 36.2 35 8 2.1 -1.7
PTH Invesco DWA Healthcare Momentum 28.5 60 -17 -1.2 -5.0
GDNA Goldman Sachs Motif Human Evolution 28.0 50 -7 1.0 -2.8
XLV Health Care Select Sector SPDR 27.4 13 30 7.2 +3.4
IYH iShares US Healthcare 27.3 43 0 6.3 +2.5
RYH Invesco S&P Equal Weight Healthcare 27.1 40 3 7.0 +3.2
FHLC Fidelity MSCI Health Care 26.1 8 35 5.8 +2.0
VHT Vanguard Health Care 25.8 10 33 5.9 +2.1
LNGR Global X Longevity Thematic 25.2 50 -7 3.3 -0.5
JHMH John Hancock Multifactor Health Care 24.3 40 3 6.6 +2.9
FXH First Trust Health Care Alphadex 22.8 63 -20 7.1 +3.3
HTEC Robo Global Healthcare Technology and Innovation 21.7 68 -25 -0.0 -3.8
IXJ iShares S&P Global Healthcare 18.5 46 -3 6.4 +2.6
PWB Invesco Dynamic Large Cap Growth 12.9 55 -12 4.3 +0.5
CWS AdvisorShares Focused Equity 12.0 85 -42 5.5 +1.7
ACT AdvisorShares Vice 11.6 99 -56 7.9 +4.2
CLRG IQ Chaikin U.S. Large Cap 10.8 25 18 8.1 +4.3
DEF Invesco Defensive Equity 10.8 59 -16 4.9 +1.1
INAU Innovation United States 10.4 81 -38 5.4 +1.7

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

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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 Medical Devices
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 16.1 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 43 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 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.