SPDR S&P BIOTECH ETF
ALTAR
Score™
-3.9% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-20.9x P/Sales
ratio
8.9x
P/BV
ratio
8.6x Div.
yield
0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Biotech ETF seeks to replicate the performance of the S&P Biotechnology Select Industry Index, an equal-weighed index. The Index tracks all the US common stocks listed on the NYSE, Ame

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Feb 06, 2006
Assets (mns) $4,833
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 123
Wgt avg mkt cap (mns) $15,664
Large cap (>$10bn) 26.7%
Mid cap ($2-10bn) 43.4%
Small cap (<$2bn) 29.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MODERNA, INC. 4.1 %
REGENERON PHARMACEUTICALS 2.6 %
IMMUNOMEDICS INC 2.4 %
EXELIXIS INC 2.2 %
SEATTLE GENETICS INC 2.2 %
BIOMARIN PHARMACEUTICAL INC 2.2 %
UNITED THERAPEUTICS CORP 2.1 %
VERTEX PHARMACEUTICALS INC 2.1 %
GILEAD SCIENCES INC 1.9 %
SAREPTA THERAPEUTICS INC 1.9 %
Total 23.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.0 %
IRELAND 1.0 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
8.9% 30.4% 5.7% 19.5% 13.6%

Market Correlations
versus... Beta R-squared
S&P500 1.32 59%
MSCI EAFE 1.26 46%
MSCI Emg. Mkts. 1.02 46%

Technical Indicators
Recent close $102.08
30d moving avg. $100.50
Annualized volatility 29.3%
Short interest (ETF) 124.2%
Short interest (Underlying) 12.9%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 7,150
Turnover 15.1%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $12,005

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the SPDR S&P BIOTECH ETF ETF based on the alternatives' overlap in portfolio holdings with XBI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XBI Expense: 35 bp ALTAR Score™: -3.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XBI
Ticker Fund
Name
Overlap1
vs XBI
(%)
Expense
ratio
(bp)
Savings
vs XBI
(bp)
ALTAR
Score™
(%)
ALTAR
vs XBI
(%)
BTEC Principal Healthcare Innovators Index ETF 54.3 42 -7 -2.5 +1.3
IBB iShares NASDAQ Biotechnology ETF 44.6 47 -12 0.4 +4.2
FBT First Trust NYSE Arca Biotechnology Index Fund 39.4 57 -22 -1.0 +2.9
IEIH iShares Evolved U.S. Innovative Healthcare ETF 33.9 18 17 4.0 +7.9
BBH VanEck Vectors Biotech ETF 32.4 35 0 3.7 +7.6
IDNA iShares Genomics Immunology & Healthcare ETF 29.7 47 -12 -2.6 +1.3
BBC Virtus LifeSci Biotech Clinical Trials ETF 29.3 79 -44 -1.0 +2.8
SBIO ALPS Medical Breakthroughs ETF 27.8 50 -15 -1.2 +2.6
GNOM Global X Genomics & Biotechnology ETF 25.5 68 -33 -3.6 +0.3
PBE Invesco Dynamic Biotechnology & Genome ETF 24.2 57 -22 -1.0 +2.8
FXH First Trust Health Care AlphaDEX Fund 24.2 62 -27 4.4 +8.3
LNGR Global X Longevity Thematic ETF 20.6 50 -15 3.0 +6.9
PTH Invesco DWA Healthcare Momentum ETF 20.3 60 -25 -2.6 +1.3
GDNA Goldman Sachs Motif Human Evolution ETF 20.3 50 -15 0.3 +4.1
FHLC Fidelity MSCI Health Care Index ETF 15.7 8 27 5.6 +9.5
VHT Vanguard Health Care Index Fund 15.7 10 25 5.5 +9.3
JHMH John Hancock Multifactor Healthcare ETF 15.5 40 -5 6.0 +9.8
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 14.9 60 -25 3.5 +7.4
PJP Invesco Dynamic Pharmaceuticals ETF 14.5 56 -21 11.1 +15.0
IYH iShares U.S. Healthcare ETF 14.5 43 -8 6.1 +9.9
CNCR Loncar Cancer Immunotherapy ETF 14.2 79 -44 -3.4 +0.4
HELX Franklin Genomic Advancements ETF 14.1 50 -15 -1.8 +2.0
IWO iShares Russell 2000 Growth ETF 13.2 24 11 0.7 +4.6
VTWG Vanguard Russell 2000 Growth Index Fund 12.7 15 20 0.8 +4.7
RYH Invesco S&P 500 Equal Weight Health Care ETF 12.7 40 -5 6.3 +10.2
HTEC ROBO Global Healthcare Technology & Innovation ETF 12.2 68 -33 0.5 +4.4
VFMO Vanguard U.S. Momentum Factor ETF 12.0 13 22 2.1 +6.0
XLV Health Care Select Sector SPDR Fund 11.0 13 22 7.0 +10.9
FTCS First Trust Capital Strength ETF 10.9 60 -25 4.9 +8.7
MTUM iShares Edge MSCI USA Momentum Factor ETF 9.9 15 20 4.8 +8.7
ARKG ARK Genomic Revolution Multi-Sector ETF 9.7 75 -40 0.0 +3.9
JKK iShares Morningstar Small-Cap Growth ETF 9.7 30 5 1.4 +5.2
DWAS Invesco DWA SmallCap Momentum ETF 9.4 60 -25 -1.1 +2.8
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 9.0 35 0 4.3 +8.2
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 9.0 60 -25 4.1 +7.9
FYC First Trust Small Cap Growth AlphaDEX Fund 9.0 70 -35 2.5 +6.4
IXJ iShares Global Healthcare ETF 9.0 46 -11 6.2 +10.1
XT iShares Exponential Technologies ETF 8.9 47 -12 5.2 +9.0
RBUS Nationwide Risk-Based U.S. Equity ETF 8.9 30 5 5.1 +8.9
CACG ClearBridge All Cap Growth ETF 8.9 54 -19 4.5 +8.3
TECB iShares US Tech Breakthrough Multisector ETF 8.7 40 -5 4.1 +8.0
FTXH First Trust Nasdaq Pharmaceuticals ETF 8.7 60 -25 7.2 +11.0
VBK Vanguard Small-Cap Growth Index Fund 8.6 7 28 2.5 +6.4
IWC iShares Micro-Cap ETF 8.3 60 -25 -4.0 -0.2
IWM iShares Russell 2000 ETF 8.2 19 16 3.5 +7.4
AIEQ AI Powered Equity ETF 8.0 87 -52 3.4 +7.2
VTWO Vanguard Russell 2000 Index Fund 7.9 10 25 3.6 +7.5
COWZ Pacer US Cash Cows 100 ETF 7.7 49 -14 9.4 +13.2
SDG iShares Sustainable MSCI Global Impact ETF 7.6 49 -14 6.1 +9.9
FNY First Trust Mid Cap Growth AlphaDEX Fund 7.3 70 -35 2.1 +6.0
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 7.0 60 -25 6.2 +10.0
SCHA Schwab U.S. Small-Cap ETF 7.0 4 31 4.7 +8.6
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 7.0 29 6 1.8 +5.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 6.8 66 -31 2.6 +6.4
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 6.7 75 -40 2.2 +6.1
KNOW Direxion All Cap Insider Sentiment Shares 6.6 59 -24 5.5 +9.3
AUSF Global X Adaptive U.S. Factor ETF 6.5 27 8 7.8 +11.7
BOSS Global X Founder-Run Companies ETF 6.5 45 -10 3.8 +7.6
DSTL Distillate US Fundamental Stability & Value ETF 6.5 39 -4 6.4 +10.3
JKH iShares Morningstar Mid-Cap Growth ETF 6.1 30 5 2.5 +6.3
VXF Vanguard Extended Market Index Fund 5.9 7 28 3.8 +7.6
JKF iShares Morningstar Large Cap Value ETF 5.9 25 10 7.5 +11.3
FDMO Fidelity Momentum Factor ETF 5.9 29 6 4.0 +7.8
QYLD Global X NASDAQ 100 Covered Call ETF 5.8 60 -25 3.7 +7.6
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 5.8 21 14 3.2 +7.1
PSCH Invesco S&P SmallCap Health Care ETF 5.8 29 6 3.0 +6.9
VFMV Vanguard U.S. Minimum Volatility ETF 5.7 13 22 3.8 +7.6
IPO Renaissance IPO ETF 5.7 60 -25 -6.2 -2.4
TTAC TrimTabs Float Shrink ETF 5.6 59 -24 3.6 +7.5
FMK First Trust Mega Cap AlphaDEX Fund 5.6 70 -35 5.2 +9.1
NUSI Nationwide Risk-Managed Income ETF 5.6 68 -33 3.7 +7.5
AFSM First Trust Active Factor Small Cap ETF 5.6 75 -40 5.6 +9.5
GURU Global X Guru Index ETF 5.5 75 -40 4.0 +7.9
PSC Principal U.S. Small Cap Index ETF 5.5 38 -3 6.8 +10.6
QQQ Invesco QQQ Trust 5.4 20 15 4.1 +8.0
MXDU Nationwide Maximum Diversification US Core Equity ETF 5.4 34 1 5.2 +9.1
SPGP Invesco S&P 500 GARP ETF 5.3 35 0 7.0 +10.9
PBSM Invesco PureBeta MSCI USA Small Cap ETF 5.3 6 29 5.0 +8.8
FDRR Fidelity Dividend ETF for Rising Rates 5.2 29 6 6.9 +10.7
FTC First Trust Large Cap Growth AlphaDEX Fund 5.1 61 -26 3.0 +6.9
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 5.1 17 18 4.8 +8.6
VB Vanguard Small-Cap ETF 5.1 5 30 5.4 +9.2
NUSC Nuveen ESG Small-Cap ETF 5.1 40 -5 4.9 +8.7
SHE SPDR SSGA Gender Diversity Index ETF 5.0 20 15 5.4 +9.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 5.0 19 16 5.6 +9.5
JQUA JPMorgan U.S. Quality Factor ETF 5.0 12 23 5.2 +9.1
ESGS Columbia Sustainable U.S. Equity Income ETF 5.0 35 0 8.6 +12.5
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 4.9 75 -40 6.0 +9.9
FLQL Franklin LibertyQ U.S. Equity ETF 4.9 15 20 6.2 +10.1
CSML IQ Chaikin U.S. Small Cap ETF 4.9 35 0 4.5 +8.3
SPHQ Invesco S&P 500 Quality ETF 4.8 15 20 5.1 +9.0
SFYX Sofi Next 500 ETF 4.8 0 35 5.9 +9.7
SYG SPDR MFS Systematic Growth Equity ETF 4.8 60 -25 4.6 +8.5
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 4.7 25 10 5.9 +9.7
VALQ American Century STOXX U.S. Quality Value ETF 4.7 29 6 8.6 +12.5
JHSC John Hancock Multifactor Small Cap ETF 4.5 50 -15 5.7 +9.5
ENTR Entrepreneur 30 Fund 4.5 49 -14 3.3 +7.1
FYX First Trust Small Cap Core AlphaDEX Fund 4.5 63 -28 6.2 +10.0
ECOZ TrueMark ESG Active Opportunities ETF 4.5 58 -23 4.5 +8.3

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

  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:
SPDR S&P BIOTECH 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 -36.3 %
Divided by: Fwd. P/BV 10.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score -3.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.30 CATEGORY
AVERAGE
1.53
 
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.