Invesco S&P Equal Weight Healthcare
ALTAR
Score™
7.0% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
17.7x P/Sales
ratio
1.0x
P/BV
ratio
3.3x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Equal Weight Healthcare ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate the performance of the S&P Equal Weight Health Care Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Nov 07, 2006
Assets (mns) $787
Currency USD
Expense ratio 40 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Equal
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 60
Wgt avg mkt cap (mns) $63,913
Large cap (>$10bn) 97.0%
Mid cap ($2-10bn) 3.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ALIGN TECHNOLOGY INC 2.4 %
CENTENE CORP 2.0 %
REGENERON PHARMACEUTICALS 2.0 %
VERTEX PHARMACEUTICALS INC 1.9 %
BIOGEN IDEC INC 1.9 %
HUMANA INC 1.9 %
CIGNA CORP 1.9 %
INCYTE CORP 1.9 %
ABBVIE INC 1.9 %
BRISTOL-MYERS SQUIBB CO 1.8 %
Total 19.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.0 %
IRELAND 4.7 %
BRITAIN 1.4 %








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.
22.7% 10.6% 9.2% 15.4% 12.6%

Market Correlations
versus... Beta R-squared
S&P500 1.06 76%
MSCI EAFE 0.97 54%
MSCI Emg. Mkts. 0.74 50%

Technical Indicators
Recent close $218.69
30d moving avg. $210.00
Annualized volatility 14.6%
Short interest (ETF) 0.6%
Short interest (Underlying) 3.1%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $18,829

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Equal Weight Healthcare ETF based on the alternatives' overlap in portfolio holdings with RYH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RYH Expense: 40 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RYH
Ticker Fund
Name
Overlap1
vs RYH
(%)
Expense
ratio
(bp)
Savings
vs RYH
(bp)
ALTAR
Score™
(%)
ALTAR
vs RYH
(%)
JHMH John Hancock Multifactor Health Care 67.9 40 0 6.6 -0.4
XLV Health Care Select Sector SPDR 60.1 13 27 7.2 +0.2
FXH First Trust Health Care Alphadex 58.9 63 -23 7.0 +0.0
IYH iShares US Healthcare 56.3 43 -3 6.2 -0.7
FHLC Fidelity MSCI Health Care 55.5 8 32 5.7 -1.2
VHT Vanguard Health Care 55.4 10 30 5.9 -1.1
IXJ iShares S&P Global Healthcare 49.3 46 -6 6.3 -0.6
IEHS iShares Evolved U.S. Healthcare Staples 46.9 18 22 5.9 -1.1
XHE SPDR S&P Health Care Equipment 31.0 35 5 2.1 -4.9
LNGR Global X Longevity Thematic 29.1 50 -10 3.3 -3.7
GDNA Goldman Sachs Motif Human Evolution 29.1 50 -10 1.0 -5.9
IEIH iShares Evolved U.S. Innovative Healthcare 28.5 18 22 4.4 -2.6
XHS SPDR S&P Health Care Services 27.4 35 5 6.0 -1.0
IHI iShares DJ US Medical Devices 27.3 43 -3 3.8 -3.2
HTEC Robo Global Healthcare Technology and Innovation 26.1 68 -28 -0.1 -7.0
PJP Invesco Dynamic Pharmaceuticals 23.4 56 -16 9.3 +2.4
PBE Invesco Dynamic Biotechnology & Genome 23.4 57 -17 -0.5 -7.5
QQXT First Trust NASDAQ-100 Ex-Tech 22.5 60 -20 5.8 -1.1
CLRG IQ Chaikin U.S. Large Cap 21.8 25 15 8.0 +1.0
IHF iShares US Healthcare Providers 20.7 43 -3 7.3 +0.3

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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:
Invesco S&P Equal Weight Healthcare
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.6 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.