Obesity
ALTAR
Score™
2.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
35.2x P/Sales
ratio
2.8x
P/BV
ratio
5.7x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Obesity ETF is a market cap selected and weighted fund that focuses on companies from all over the world positioned to serve the obese.

FUND BASICS
Category Global Equities
Fund Sponsor Janus
Website www.janus.com
Inception date Jun 08, 2016
Assets (mns) $11
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 40
Wgt avg mkt cap (mns) $35,029
Large cap (>$10bn) 56.6%
Mid cap ($2-10bn) 22.0%
Small cap (<$2bn) 21.5%
Developed mkts 99.1%
Emerging mkts 0.9%

TOP TEN HOLDINGS
NOVO NORDISK A/S-B 19.3 %
RESMED INC-CDI 10.1 %
DEXCOM INC 9.4 %
FRESENIUS MEDICAL CARE AG & 7.1 %
INSULET CORP 5.2 %
DAVITA INC 5.1 %
HERBALIFE LTD 4.7 %
FISHER & PAYKEL HEALTHCARE CORPORA 4.7 %
ABIOMED INC 4.3 %
TANDEM DIABETES CARE INC 3.9 %
Total 73.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 58.7 %
DENMARK 19.3 %
GERMANY 7.1 %
CAYMAN ISLANDS 4.7 %
NEW ZEALAND 4.7 %
JAPAN 2.1 %
CHINA 1.5 %
BRITAIN 0.4 %
TAIWAN 0.1 %


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.
19.6% 13.1% -- -- 14.9%

Market Correlations
versus... Beta R-squared
S&P500 0.78 37%
MSCI EAFE 0.58 17%
MSCI Emg. Mkts. 0.40 13%

Technical Indicators
Recent close $38.02
30d moving avg. $36.56
Annualized volatility 15.5%
Short interest (ETF) 0.4%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.7%
Bid/Ask (% of price) 1.41%
ADV underlying (mns) $1,443

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SLIM Expense: 35 bp ALTAR Score™: 2.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SLIM
Ticker Fund
Name
Overlap1
vs SLIM
(%)
Expense
ratio
(bp)
Savings
vs SLIM
(bp)
ALTAR
Score™
(%)
ALTAR
vs SLIM
(%)
EDEN iShares MSCI Denmark Capped 19.3 53 -18 4.5 +2.3
GXF Global X FTSE Nordic 30 15.5 58 -23 5.1 +2.9
PTH Invesco DWA Healthcare Momentum 12.2 60 -25 -1.2 -3.4
XHE SPDR S&P Health Care Equipment 12.1 35 0 2.1 -0.1
BFIT Global X Health & Wellness Thematic 10.4 50 -15 4.8 +2.6
LNGR Global X Longevity Thematic 9.6 50 -15 3.3 +1.1
HTEC Robo Global Healthcare Technology and Innovation 8.0 68 -33 -0.1 -2.2
SNSR Global X Internet of Things Thematic 7.6 68 -33 5.3 +3.2
GDNA Goldman Sachs Motif Human Evolution 7.2 50 -15 1.0 -1.1
BTEC Principal Healthcare Innovators Index 7.0 42 -7 -4.2 -6.4
PSL Invesco DWA Consumer Staples Momentum 6.3 60 -25 5.8 +3.6
FXH First Trust Health Care Alphadex 5.9 63 -28 7.0 +4.8
DNL WisdomTree Global Ex-U.S. Growth 5.7 58 -23 7.5 +5.3
IHI iShares DJ US Medical Devices 5.1 43 -8 3.8 +1.6
SBIO ALPS Medical Breakthroughs 4.4 50 -15 -5.2 -7.3
QMOM MomentumShares U.S. Quantitative Momentum 3.8 49 -14 2.6 +0.5
BBC Virtus LifeSci Biotech Clinical Trials 3.6 79 -44 -11.1 -13.2
IHDG Wisdomtree International Hed 3.5 58 -23 6.1 +3.9
DTEC ALPS Disruptive Technologies 3.5 50 -15 3.4 +1.3
IQDG WisdomTree International Quality Dividend Growth 3.5 38 -3 6.4 +4.3

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%.

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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

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:
Obesity
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 13.2 %
Divided by: Fwd. P/BV 5.3 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 2.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.