VanEck Vectors Pharmaceuticals
ALTAR
Score™
9.5% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
12.4x P/Sales
ratio
0.9x
P/BV
ratio
2.6x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Pharmaceutical ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the US Listed Pharmaceutical 25 Index.

FUND BASICS
Category US Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Dec 21, 2011
Assets (mns) $184
Currency USD
Expense ratio 36 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $103,106
Large cap (>$10bn) 78.1%
Mid cap ($2-10bn) 21.4%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ABBVIE INC 5.9 %
NOVO-NORDISK A/S-SPONS ADR 5.5 %
ASTRAZENECA PLC-SPONS ADR 5.3 %
GLAXOSMITHKLINE PLC-SPON ADR 5.3 %
BRISTOL-MYERS SQUIBB CO 5.1 %
SANOFI-AVENTIS-ADR 5.1 %
TAKEDA PHARMACEUTICAL CO. LTD. SPO 5.0 %
ELI LILLY & CO 4.9 %
JOHNSON & JOHNSON 4.9 %
MERCK & CO. INC. 4.9 %
Total 52.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 48.6 %
BRITAIN 15.3 %
IRELAND 7.4 %
DENMARK 5.5 %
FRANCE 5.1 %
JAPAN 5.0 %
SWITZERLAND 4.8 %
ISRAEL 4.2 %
CANADA 4.1 %


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.
10.0% 0.1% 0.7% -- 8.8%

Market Correlations
versus... Beta R-squared
S&P500 0.98 66%
MSCI EAFE 0.88 46%
MSCI Emg. Mkts. 0.54 29%

Technical Indicators
Recent close $60.47
30d moving avg. $57.85
Annualized volatility 14.5%
Short interest (ETF) 84.4%
Short interest (Underlying) 2.0%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 65
Turnover 2.1%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $6,292

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the VanEck Vectors Pharmaceuticals ETF based on the alternatives' overlap in portfolio holdings with PPH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PPH Expense: 36 bp ALTAR Score™: 9.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PPH
Ticker Fund
Name
Overlap1
vs PPH
(%)
Expense
ratio
(bp)
Savings
vs PPH
(bp)
ALTAR
Score™
(%)
ALTAR
vs PPH
(%)
IHE iShares DJ US Pharmaceuticals 41.0 42 -6 5.6 -4.0
FTXH First Trust Nasdaq Pharmaceuticals 40.0 60 -24 5.6 -4.0
XPH SPDR S&P Pharmaceuticals ETF 39.7 35 1 4.8 -4.8
PJP Invesco Dynamic Pharmaceuticals 37.6 56 -20 9.9 +0.4
IEIH iShares Evolved U.S. Innovative Healthcare 33.9 18 18 4.9 -4.7
XLV Health Care Select Sector SPDR 26.6 13 23 7.5 -2.0
IYH iShares US Healthcare 26.0 43 -7 6.6 -3.0
FHLC Fidelity MSCI Health Care 25.6 8 28 6.1 -3.5
VHT Vanguard Health Care 25.4 10 26 6.1 -3.5
JHMH John Hancock Multifactor Health Care 24.3 40 -4 6.9 -2.6
IXJ iShares S&P Global Healthcare 21.1 46 -10 6.6 -3.0
ADRU BLDRs Europe 100 ADR 19.4 30 6 8.1 -1.5
ADRD BLDRs Developed Markets 100 ADR 18.2 30 6 9.0 -0.5
DURA VanEck Vectors Morningstar Durable Dividend 18.0 29 7 6.8 -2.8
RYH Invesco S&P Equal Weight Healthcare 17.5 40 -4 7.3 -2.2
FXH First Trust Health Care Alphadex 16.7 63 -27 7.4 -2.2
OUSA O'Shares FTSE U.S. Quality Dividend 13.6 48 -12 5.9 -3.6
CNCR Loncar Cancer Immunotherapy 13.5 79 -43 -3.9 -13.4
ACIO Aptus Collared Income Opportunity 12.6 79 -43 6.8 -2.8
SPHQ Invesco S&P High Quality Portfolio 12.5 15 21 5.6 -3.9

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:
VanEck Vectors Pharmaceuticals
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 22.6 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 36 bp
Equals: ALTAR Score 9.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.55
 
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.