iShares U.S. Medical Devices ETF
ALTAR
Score™
3.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
35.8x P/Sales
ratio
5.9x
P/BV
ratio
4.9x 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 01, 2006
Assets (mns) $8,738
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 63
Wgt avg mkt cap (mns) $99,456
Large cap (>$10bn) 92.5%
Mid cap ($2-10bn) 4.9%
Small cap (<$2bn) 2.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ABBOTT LABORATORIES 13.6 %
THERMO FISHER SCIENTIFIC INC 12.8 %
MEDTRONIC PLC 11.0 %
DANAHER CORP 8.2 %
STRYKER CORP 4.9 %
INTUITIVE SURGICAL INC 4.4 %
EDWARDS LIFESCIENCES CORP 4.3 %
BECTON DICKINSON AND CO 4.2 %
BOSTON SCIENTIFIC CORP 3.5 %
IDEXX LABORATORIES INC 3.1 %
Total 69.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 86.5 %
IRELAND 12.3 %
BRITAIN 1.1 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.0% 20.1% 20.7% 19.2% 14.1%

Market Correlations
versus... Beta R-squared
S&P500 0.90 75%
MSCI EAFE 0.85 56%
MSCI Emg. Mkts. 0.63 48%

Technical Indicators
Recent close $310.95
30d moving avg. $312.09
Annualized volatility 18.5%
Short interest (ETF) 2.0%
Short interest (Underlying) 3.1%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 148
Turnover 0.5%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $6,236

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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: 42 bp ALTAR Score™: 3.3%


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 49.0 18 24 5.4 +2.1
XHE SPDR S&P Health Care Equipment ETF 33.1 35 7 1.6 -1.7
XLV Health Care Select Sector SPDR Fund 30.8 13 29 7.2 +3.9
RYH Invesco S&P 500 Equal Weight Health Care ETF 30.1 40 2 6.7 +3.4
IYH iShares U.S. Healthcare ETF 29.5 43 -1 6.2 +3.0
FHLC Fidelity MSCI Health Care Index ETF 27.9 8 34 5.5 +2.2
VHT Vanguard Health Care Index Fund 27.0 10 32 5.4 +2.1
JHMH John Hancock Multifactor Healthcare ETF 25.8 40 2 6.0 +2.8
LNGR Global X Longevity Thematic ETF 23.5 50 -8 3.2 -0.1
IXJ iShares Global Healthcare ETF 20.8 46 -4 6.3 +3.0
FXH First Trust Health Care AlphaDEX Fund 19.8 62 -20 5.0 +1.7
HTEC ROBO Global Healthcare Technology & Innovation ETF 19.6 68 -26 0.1 -3.2
PTH Invesco DWA Healthcare Momentum ETF 16.9 60 -18 -2.5 -5.8
VIRS Pacer BioThreat Strategy ETF 15.7 70 -28 4.6 +1.3
BMED BlackRock Future Health ETF 14.6 85 -43 -1.1 -4.3
ANEW ProShares MSCI Transformational Changes ETF 13.3 45 -3 3.1 -0.2
PWB Invesco Dynamic Large Cap Growth ETF 13.0 56 -14 3.2 -0.1
CWS AdvisorShares Focused Equity ETF 12.1 85 -43 5.2 +1.9
IQM Franklin Intelligent Machines ETF 12.1 50 -8 1.6 -1.7
JKD iShares Morningstar Large-Cap ETF 9.4 20 22 5.3 +2.1
HLAL Wahed FTSE USA Shariah ETF 9.3 50 -8 4.1 +0.8
JMIN JPMorgan U.S. Minimum Volatility ETF 9.2 12 30 5.3 +2.0
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 9.1 60 -18 3.5 +0.3
FLV American Century Focused Large Cap Value ETF 9.1 42 0 5.8 +2.5
PIO Invesco Global Water ETF 8.9 75 -33 3.6 +0.4
PHO Invesco Water Resources ETF 8.5 60 -18 3.2 -0.1
SPLV Invesco S&P 500 Low Volatility ETF 8.4 25 17 5.5 +2.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 8.1 49 -7 3.9 +0.6
SPHQ Invesco S&P 500 Quality ETF 8.0 15 27 4.4 +1.1
RBUS Nationwide Risk-Based U.S. Equity ETF 7.5 30 12 4.7 +1.4
ADME Aptus Drawdown Managed Equity ETF 7.5 79 -37 3.4 +0.1
BTEC Principal Healthcare Innovators Index ETF 7.2 42 0 -2.0 -5.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 7.1 12 30 4.5 +1.2
JKH iShares Morningstar Mid-Cap Growth ETF 7.1 30 12 1.9 -1.4
NUMG Nuveen ESG Mid-Cap Growth ETF 7.0 40 2 2.0 -1.3
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 6.8 25 17 5.6 +2.4
FIW First Trust Water ETF 6.7 55 -13 3.4 +0.1
PSET Principal Price Setters Index ETF 6.7 15 27 4.6 +1.4
FTC First Trust Large Cap Growth AlphaDEX Fund 6.7 61 -19 2.3 -0.9
SPMO Invesco S&P 500 Momentum ETF 6.6 13 29 3.9 +0.6
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 6.1 35 7 5.1 +1.8
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 6.1 75 -33 4.5 +1.2
QQQJ Invesco NASDAQ Next Gen 100 ETF 6.1 15 27 3.3 +0.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 6.1 75 -33 3.9 +0.6
FLLV Franklin Liberty U.S. Low Volatility ETF 6.1 29 13 5.2 +1.9
IWX iShares Russell Top 200 Value ETF 6.1 20 22 6.2 +3.0
NULG Nuveen ESG Large-Cap Growth ETF 6.0 35 7 3.5 +0.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 5.8 75 -33 2.3 -1.0
SPXT ProShares S&P 500 Ex-Technology ETF 5.7 27 15 5.1 +1.9
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 5.7 49 -7 4.6 +1.4
MTUM iShares MSCI USA Momentum Factor ETF 5.6 15 27 4.0 +0.7
CATH Global X S&P 500 Catholic Values Custom ETF 5.5 29 13 4.7 +1.4
TPLC Timothy Plan US Large Cap Core ETF 5.5 52 -10 4.7 +1.4
VIG Vanguard Dividend Appreciation Index Fund 5.5 6 36 5.0 +1.7
VBK Vanguard Small-Cap Growth Index Fund 5.4 7 35 2.0 -1.3
VOT Vanguard Mid-Cap Growth Index Fund 5.4 7 35 2.8 -0.4
ESGV Vanguard ESG U.S. Stock ETF 5.4 12 30 4.7 +1.4
DTEC ALPS Disruptive Technologies ETF 5.3 50 -8 2.9 -0.4
ACIO Aptus Collared Income Opportunity ETF 5.3 79 -37 4.3 +1.0
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 5.3 17 25 6.3 +3.0
FPX First Trust US IPO Index Fund 5.3 58 -16 1.3 -2.0
IWP iShares Russell Mid-Cap Growth ETF 5.2 24 18 2.8 -0.5
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 5.1 59 -17 3.7 +0.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 5.1 60 -18 3.8 +0.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 5.0 66 -24 2.0 -1.3
LSLT Salt Low truBeta US Market ETF 5.0 60 -18 5.6 +2.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 5.0 34 8 4.4 +1.1
MOAT VanEck Vectors Morningstar Wide Moat ETF 5.0 49 -7 6.2 +2.9
EDOC Global X Telemedicine & Digital Health ETF 4.9 68 -26 0.7 -2.6
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 4.9 35 7 5.3 +2.0
CFA VictoryShares US 500 Volatility Weighted Index ETF 4.9 35 7 5.3 +2.0
FDMO Fidelity Momentum Factor ETF 4.9 29 13 3.1 -0.1
VSL Volshares Large Capital ETF 4.9 65 -23 4.3 +1.1
QQQN VictoryShares Nasdaq Next 50 ETF 4.8 18 24 2.9 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 4.8 27 15 4.6 +1.3
VONV Vanguard Russell 1000 Value Index Fund 4.8 8 34 6.4 +3.1
FVL First Trust Value Line 100 Exchange-Traded Fund 4.8 70 -28 4.9 +1.6
PJP Invesco Dynamic Pharmaceuticals ETF 4.7 56 -14 12.6 +9.3
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 4.7 60 -18 3.4 +0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 4.7 18 24 5.7 +2.4
FFTY Innovator IBD 50 ETF 4.7 80 -38 3.8 +0.5
IWD iShares Russell 1000 Value ETF 4.7 19 23 6.2 +3.0
SPGP Invesco S&P 500 GARP ETF 4.7 34 8 6.2 +2.9
RPG Invesco S&P 500 Pure Growth ETF 4.6 35 7 4.1 +0.9
IQSU IQ Candriam ESG US Equity ETF 4.6 9 33 4.7 +1.4
SCHG Schwab U.S. Large-Cap Growth ETF 4.6 4 38 3.3 +0.1
HUSV First Trust Horizon Managed Volatility Domestic ETF 4.5 70 -28 5.6 +2.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 4.5 24 18 5.6 +2.3
JMOM JPMorgan U.S. Momentum Factor ETF 4.5 12 30 3.2 -0.1
VOOG Vanguard S&P 500 Growth ETF 4.5 10 32 4.1 +0.8
PFM Invesco Dividend Achievers ETF 4.5 53 -11 5.0 +1.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 4.4 20 22 4.6 +1.3
KRMA Global X Conscious Companies ETF 4.4 43 -1 4.8 +1.5
BOTZ Global X Robotics & Artificial Intelligence ETF 4.4 68 -26 2.5 -0.8
RNLC Large Cap US Equity Select ETF 4.4 60 -18 5.5 +2.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 4.3 12 30 4.1 +0.9
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 4.3 75 -33 5.2 +1.9
MGK Vanguard Mega Cap Growth ETF 4.3 7 35 3.8 +0.5

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 15.9 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 3.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 CATEGORY
AVERAGE
1.49
 
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.