iShares U.S. Medical Devices ETF
ALTAR
Score™
3.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
36.8x P/Sales
ratio
5.6x
P/BV
ratio
4.3x Div.
yield
0.8%


  • 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 01, 2006
Assets (mns) $6,885
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 60
Wgt avg mkt cap (mns) $82,937
Large cap (>$10bn) 93.1%
Mid cap ($2-10bn) 5.0%
Small cap (<$2bn) 1.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ABBOTT LABORATORIES 13.7 %
THERMO FISHER SCIENTIFIC INC 12.5 %
MEDTRONIC PLC 10.4 %
DANAHER CORP 9.0 %
BECTON DICKINSON AND CO 4.9 %
INTUITIVE SURGICAL INC 4.4 %
BOSTON SCIENTIFIC CORP 4.1 %
EDWARDS LIFESCIENCES CORP 4.1 %
STRYKER CORP 4.0 %
BAXTER INTERNATIONAL INC 4.0 %
Total 71.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 87.2 %
IRELAND 11.6 %
NETHERLANDS 0.4 %
BRITAIN 0.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
0.3% 10.4% 17.8% 17.9% 13.4%

Market Correlations
versus... Beta R-squared
S&P500 0.90 75%
MSCI EAFE 0.82 54%
MSCI Emg. Mkts. 0.57 41%

Technical Indicators
Recent close $273.77
30d moving avg. $264.91
Annualized volatility 17.6%
Short interest (ETF) 4.2%
Short interest (Underlying) 3.1%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 279
Turnover 1.1%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $10,060

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™: 3.4%


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 48.7 18 25 5.6 +2.2
XHE SPDR S&P Health Care Equipment ETF 33.7 35 8 1.7 -1.7
RYH Invesco S&P 500 Equal Weight Health Care ETF 31.3 40 3 6.4 +3.1
XLV Health Care Select Sector SPDR Fund 29.1 13 30 7.0 +3.6
IYH iShares U.S. Healthcare ETF 28.0 43 0 6.0 +2.6
GDNA Goldman Sachs Motif Human Evolution ETF 26.4 50 -7 0.3 -3.1
JHMH John Hancock Multifactor Healthcare ETF 26.2 40 3 5.9 +2.6
FHLC Fidelity MSCI Health Care Index ETF 26.2 8 35 5.4 +2.0
VHT Vanguard Health Care Index Fund 25.4 10 33 5.3 +1.9
LNGR Global X Longevity Thematic ETF 22.3 50 -7 3.1 -0.3
HTEC ROBO Global Healthcare Technology & Innovation ETF 20.8 68 -25 0.2 -3.2
IXJ iShares Global Healthcare ETF 19.4 46 -3 6.2 +2.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 17.5 60 -17 6.1 +2.7
FXH First Trust Health Care AlphaDEX Fund 16.9 62 -19 4.4 +1.0
ACT AdvisorShares Vice ETF 14.7 99 -56 5.4 +2.1
VIRS Pacer BioThreat Strategy ETF 14.5 70 -27 4.4 +1.0
CWS AdvisorShares Focused Equity ETF 12.4 85 -42 5.3 +1.9
PWB Invesco Dynamic Large Cap Growth ETF 10.5 55 -12 3.3 -0.1
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 10.5 99 -56 2.3 -1.1
IQM Franklin Intelligent Machines ETF 10.4 50 -7 2.0 -1.4
PHO Invesco Water Resources ETF 10.0 60 -17 3.6 +0.2
PIO Invesco Global Water ETF 9.7 75 -32 3.9 +0.5
JKD iShares Morningstar Large-Cap ETF 9.6 20 23 5.6 +2.2
HLAL Wahed FTSE USA Shariah ETF 9.2 50 -7 4.5 +1.1
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 8.5 60 -17 3.3 -0.1
SPLV Invesco S&P 500 Low Volatility ETF 8.5 25 18 5.6 +2.2
FLV American Century Focused Large Cap Value ETF 8.4 42 1 6.6 +3.2
JKH iShares Morningstar Mid-Cap Growth ETF 8.0 30 13 2.3 -1.1
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 7.9 25 18 5.9 +2.5
FIW First Trust Water ETF 7.8 55 -12 3.8 +0.4
PTH Invesco DWA Healthcare Momentum ETF 7.7 60 -17 -2.3 -5.7
SPHQ Invesco S&P 500 Quality ETF 7.5 15 28 4.6 +1.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.5 49 -6 4.0 +0.6
RBUS Nationwide Risk-Based U.S. Equity ETF 7.4 30 13 5.0 +1.6
QMOM Alpha Architect U.S. Quantitative Momentum ETF 7.1 49 -6 2.1 -1.3
JMIN JPMorgan U.S. Minimum Volatility ETF 7.1 12 31 5.8 +2.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 7.0 12 31 4.7 +1.3
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 6.8 49 -6 5.1 +1.7
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 6.4 75 -32 2.0 -1.4
FLLV Franklin Liberty U.S. Low Volatility ETF 6.4 29 14 5.8 +2.4
PSET Principal Price Setters Index ETF 6.4 29 14 4.6 +1.2
VOT Vanguard Mid-Cap Growth Index Fund 6.2 7 36 3.5 +0.1
TPLC Timothy Plan US Large Cap Core ETF 6.2 52 -9 5.5 +2.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 6.1 35 8 5.4 +2.0
IWX iShares Russell Top 200 Value ETF 6.1 20 23 7.1 +3.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 6.0 17 26 6.5 +3.1
NULG Nuveen ESG Large-Cap Growth ETF 5.9 35 8 3.5 +0.1
JMOM JPMorgan U.S. Momentum Factor ETF 5.8 12 31 3.8 +0.4
CGW Invesco S&P Global Water Index ETF 5.8 59 -16 4.3 +0.9
SPXT ProShares S&P 500 Ex-Technology ETF 5.7 27 16 5.6 +2.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 5.7 60 -17 4.3 +0.9
MTUM iShares Edge MSCI USA Momentum Factor ETF 5.7 15 28 4.0 +0.7
FTC First Trust Large Cap Growth AlphaDEX Fund 5.5 61 -18 2.9 -0.5
KNOW Direxion All Cap Insider Sentiment Shares 5.5 66 -23 4.9 +1.5
VIG Vanguard Dividend Appreciation Index Fund 5.4 6 37 5.3 +1.9
NUMG Nuveen ESG Mid-Cap Growth ETF 5.4 40 3 2.3 -1.1
RPG Invesco S&P 500 Pure Growth ETF 5.3 35 8 4.4 +1.0
MXDU Nationwide Maximum Diversification US Core Equity ETF 5.2 34 9 4.8 +1.4
DEF Invesco Defensive Equity ETF 5.2 55 -12 5.0 +1.7
ADME Aptus Drawdown Managed Equity ETF 5.1 81 -38 3.5 +0.2
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 5.1 60 -17 3.7 +0.3
DTEC ALPS Disruptive Technologies ETF 5.1 50 -7 3.5 +0.1
FPX First Trust US IPO Index Fund 5.1 58 -15 2.6 -0.8
CATH Global X S&P 500 Catholic Values Custom ETF 5.0 29 14 5.1 +1.8
PJP Invesco Dynamic Pharmaceuticals ETF 5.0 56 -13 10.8 +7.4
PEXL Pacer US Export Leaders ETF 4.9 60 -17 5.9 +2.5
SPGP Invesco S&P 500 GARP ETF 4.9 35 8 7.2 +3.8
IWP iShares Russell Mid-Cap Growth ETF 4.9 24 19 4.1 +0.7
TMDV ProShares Russell US Dividend Growers ETF 4.8 35 8 5.3 +1.9
VBK Vanguard Small-Cap Growth Index Fund 4.8 7 36 2.4 -1.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 4.8 18 25 6.2 +2.8
SCHG Schwab U.S. Large-Cap Growth ETF 4.8 4 39 4.0 +0.7
IWD iShares Russell 1000 Value ETF 4.8 19 24 7.1 +3.7
SPXN ProShares S&P 500 Ex-Financials ETF 4.8 27 16 4.9 +1.5
AIEQ AI Powered Equity ETF 4.7 87 -44 3.6 +0.2
MOAT VanEck Vectors Morningstar Wide Moat ETF 4.7 49 -6 6.3 +2.9
ETHO Etho Climate Leadership U.S. ETF 4.6 47 -4 4.3 +0.9
FFTY Innovator IBD 50 ETF 4.6 80 -37 3.4 +0.0
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 4.6 20 23 7.6 +4.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 4.6 24 19 6.2 +2.8
ECOZ TrueMark ESG Active Opportunities ETF 4.6 58 -15 4.2 +0.9
MMTM SPDR S&P 1500 Momentum Tilt ETF 4.6 12 31 4.8 +1.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 4.6 35 8 5.9 +2.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 4.6 9 34 5.8 +2.5
IQSU IQ Candriam ESG US Equity ETF 4.5 9 34 5.0 +1.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 4.4 66 -23 2.5 -0.9
RSP Invesco S&P 500 Equal Weight ETF 4.4 20 23 6.7 +3.3
RNLC Large Cap US Equity Select ETF 4.4 60 -17 6.2 +2.8
BOTZ Global X Robotics & Artificial Intelligence ETF 4.4 68 -25 2.8 -0.6
PFM Invesco Dividend Achievers ETF 4.3 54 -11 5.4 +2.0
VONV Vanguard Russell 1000 Value Index Fund 4.3 8 35 7.2 +3.9
ENTR Entrepreneur 30 Fund 4.3 49 -6 2.5 -0.9
ESGV Vanguard ESG U.S. Stock ETF 4.3 12 31 5.1 +1.7
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 4.3 59 -16 3.5 +0.2
FTCS First Trust Capital Strength ETF 4.3 58 -15 4.8 +1.4
VSL Volshares Large Capital ETF 4.3 65 -22 6.7 +3.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 4.3 20 23 4.9 +1.5
SPXE ProShares S&P 500 Ex-Energy ETF 4.3 27 16 5.2 +1.8
PBP Invesco S&P 500 BuyWrite ETF 4.3 49 -6 5.0 +1.6
ESG FlexShares STOXX US ESG Impact Index Fund 4.2 32 11 5.0 +1.6

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:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.5 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 43 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 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.