SPDR S&P Health Care Equipment ETF
ALTAR
Score™
0.6% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
211.5x P/Sales
ratio
5.0x
P/BV
ratio
5.8x Div.
yield
0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Health Care Equipment ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible the performance of the S&P Health Care Equipment Select Industry Index.

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Jan 26, 2011
Assets (mns) $760
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 83
Wgt avg mkt cap (mns) $18,535
Large cap (>$10bn) 33.9%
Mid cap ($2-10bn) 31.5%
Small cap (<$2bn) 31.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
IRHYTHM TECHNOLOGIES, INC. 1.6 %
CRYOPORT, INC. 1.6 %
TACTILE SYSTEMS TECHNOLOGY, INC. 1.6 %
GLAUKOS CORP 1.6 %
ABIOMED INC 1.6 %
NUVASIVE INC 1.5 %
CARDIOVASCULAR SYSTEMS INC 1.5 %
ATRICURE INC 1.5 %
PENUMBRA, INC. 1.5 %
ALPHATEC HOLDINGS INC 1.5 %
Total 15.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 81.9 %
BRITAIN 2.6 %
IRELAND 1.3 %
SWITZERLAND 0.5 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
32.9% 32.9% 20.9% -- 10.1%

Market Correlations
versus... Beta R-squared
S&P500 0.97 73%
MSCI EAFE 0.84 54%
MSCI Emg. Mkts. 0.72 50%

Technical Indicators
Recent close $119.20
30d moving avg. $113.32
Annualized volatility 21.4%
Short interest (ETF) 13.0%
Short interest (Underlying) 6.3%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 29
Turnover 0.5%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $8,400

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SPDR S&P Health Care Equipment ETF ETF based on the alternatives' overlap in portfolio holdings with XHE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XHE Expense: 35 bp ALTAR Score™: 0.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XHE
Ticker Fund
Name
Overlap1
vs XHE
(%)
Expense
ratio
(bp)
Savings
vs XHE
(bp)
ALTAR
Score™
(%)
ALTAR
vs XHE
(%)
HTEC ROBO Global Healthcare Technology & Innovation ETF 32.8 68 -33 0.9 +0.3
IHI iShares U.S. Medical Devices ETF 31.5 42 -7 3.1 +2.6
RYH Invesco S&P 500 Equal Weight Health Care ETF 27.7 40 -5 6.4 +5.8
IEHS iShares Evolved U.S. Healthcare Staples ETF 23.5 18 17 5.0 +4.4
JHMH John Hancock Multifactor Healthcare ETF 22.3 40 -5 5.8 +5.3
IYH iShares U.S. Healthcare ETF 19.0 43 -8 6.0 +5.4
FHLC Fidelity MSCI Health Care Index ETF 19.0 8 27 5.2 +4.6
VHT Vanguard Health Care Index Fund 18.9 10 25 5.2 +4.6
FXH First Trust Health Care AlphaDEX Fund 18.8 62 -27 4.6 +4.0
LNGR Global X Longevity Thematic ETF 18.7 50 -15 2.9 +2.3
PSCH Invesco S&P SmallCap Health Care ETF 18.3 29 6 2.8 +2.3
XLV Health Care Select Sector SPDR Fund 18.0 13 22 7.0 +6.4
IXJ iShares Global Healthcare ETF 14.5 46 -11 6.2 +5.6
BMED BlackRock Future Health ETF 13.7 85 -50 -0.9 -1.5
IQM Franklin Intelligent Machines ETF 13.1 50 -15 1.4 +0.8
BTEC Principal Healthcare Innovators Index ETF 10.9 42 -7 -2.5 -3.1
JMIN JPMorgan U.S. Minimum Volatility ETF 9.8 12 23 5.3 +4.8
ANEW ProShares MSCI Transformational Changes ETF 9.3 45 -10 2.5 +2.0
SIXL 6 Meridian Low Beta Equity Strategy ETF 8.5 84 -49 4.2 +3.6
JKH iShares Morningstar Mid-Cap Growth ETF 8.4 30 5 1.9 +1.4
PSET Principal Price Setters Index ETF 8.3 15 20 4.7 +4.1
RPG Invesco S&P 500 Pure Growth ETF 7.9 35 0 2.8 +2.2
PTH Invesco DWA Healthcare Momentum ETF 7.9 60 -25 -2.3 -2.8
HLAL Wahed FTSE USA Shariah ETF 7.7 50 -15 3.9 +3.3
VOT Vanguard Mid-Cap Growth Index Fund 7.6 7 28 2.7 +2.2
IWP iShares Russell Mid-Cap Growth ETF 7.5 24 11 2.7 +2.1
JOET Virtus Terranova US Quality Momentum ETF 7.4 29 6 4.7 +4.1
NUMG Nuveen ESG Mid-Cap Growth ETF 7.3 40 -5 2.0 +1.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.1 49 -14 3.5 +3.0
DTEC ALPS Disruptive Technologies ETF 7.0 50 -15 2.8 +2.2
RBUS Nationwide Risk-Based U.S. Equity ETF 7.0 30 5 4.6 +4.1
SPLV Invesco S&P 500 Low Volatility ETF 6.8 25 10 5.6 +5.0
FTC First Trust Large Cap Growth AlphaDEX Fund 6.8 61 -26 2.3 +1.7
QQQJ Invesco NASDAQ Next Gen 100 ETF 6.5 15 20 2.6 +2.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 6.5 75 -40 2.1 +1.5
FLLV Franklin Liberty U.S. Low Volatility ETF 6.2 29 6 5.0 +4.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 6.1 25 10 5.9 +5.3
ETHO Etho Climate Leadership U.S. ETF 6.0 47 -12 3.7 +3.2
CATH Global X S&P 500 Catholic Values Custom ETF 6.0 29 6 4.7 +4.1
ADME Aptus Drawdown Managed Equity ETF 5.8 79 -44 3.2 +2.6
TPLC Timothy Plan US Large Cap Core ETF 5.7 52 -17 4.5 +3.9
ESGV Vanguard ESG U.S. Stock ETF 5.6 12 23 4.6 +4.0
JKK iShares Morningstar Small-Cap Growth ETF 5.6 30 5 0.6 +0.0
MFMS Motley Fool Small-Cap Growth ETF 5.6 85 -50 0.5 -0.0
EDOC Global X Telemedicine & Digital Health ETF 5.6 68 -33 1.0 +0.5
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 5.5 35 0 5.1 +4.6
JKD iShares Morningstar Large-Cap ETF 5.5 20 15 4.8 +4.3
QGRO American Century STOXX U.S. Quality Growth ETF 5.5 29 6 3.7 +3.2
MMLG First Trust Multi-Manager Large Growth ETF 5.4 85 -50 1.9 +1.3
AFSM First Trust Active Factor Small Cap ETF 5.4 77 -42 4.4 +3.9
PDP Invesco DWA Momentum ETF 5.4 62 -27 1.9 +1.3
IWX iShares Russell Top 200 Value ETF 5.4 20 15 6.0 +5.5
FDMO Fidelity Momentum Factor ETF 5.3 29 6 2.5 +2.0
DEF Invesco Defensive Equity ETF 5.3 55 -20 5.3 +4.7
JKE iShares Morningstar Large-Cap Growth ETF 5.2 25 10 2.3 +1.7
SQLV Legg Mason Small-Cap Quality Value 5.2 62 -27 4.1 +3.6
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 5.2 60 -25 4.5 +3.9
PWB Invesco Dynamic Large Cap Growth ETF 5.2 56 -21 2.2 +1.6
SPXT ProShares S&P 500 Ex-Technology ETF 5.2 27 8 4.9 +4.4
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 5.1 35 0 5.1 +4.5
QQQN VictoryShares Nasdaq Next 50 ETF 5.1 18 17 2.9 +2.4
LSLT Salt Low truBeta US Market ETF 5.1 60 -25 5.8 +5.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 5.1 35 0 5.1 +4.5
XMLV Invesco S&P MidCap Low Volatility ETF 5.1 25 10 5.1 +4.6
VBK Vanguard Small-Cap Growth Index Fund 5.1 7 28 1.9 +1.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 5.1 17 18 6.1 +5.5
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 5.0 59 -24 3.3 +2.7
USMV iShares Edge MSCI Min Vol USA ETF 5.0 15 20 5.4 +4.8
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 4.9 25 10 6.9 +6.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 4.9 30 5 6.1 +5.6
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 4.9 30 5 5.4 +4.8
SPHQ Invesco S&P 500 Quality ETF 4.9 15 20 4.5 +3.9
FAD First Trust Multi Cap Growth AlphaDEX Fund 4.8 66 -31 1.8 +1.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 4.8 34 1 4.4 +3.8
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 4.7 24 11 5.5 +4.9
IJK iShares S&P Mid-Cap 400 Growth ETF 4.7 17 18 3.8 +3.2
MDYG SPDR S&P 400 Mid Cap Growth ETF 4.7 15 20 3.8 +3.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 4.6 35 0 3.4 +2.8
VIG Vanguard Dividend Appreciation Index Fund 4.6 6 29 5.0 +4.4
IWO iShares Russell 2000 Growth ETF 4.6 24 11 -0.1 -0.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 4.6 9 26 5.0 +4.4
VOOV Vanguard S&P 500 Value ETF 4.5 10 25 6.6 +6.0
VO Vanguard Mid-Cap Index Fund 4.5 4 31 4.6 +4.0
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 4.4 15 20 4.2 +3.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 4.4 60 -25 3.7 +3.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 4.4 18 17 5.6 +5.1
SPXN ProShares S&P 500 Ex-Financials ETF 4.4 27 8 4.5 +3.9
VONV Vanguard Russell 1000 Value Index Fund 4.4 8 27 6.1 +5.6
RNLC Large Cap US Equity Select ETF 4.3 60 -25 5.3 +4.7
RSP Invesco S&P 500 Equal Weight ETF 4.3 20 15 5.6 +5.1
PFM Invesco Dividend Achievers ETF 4.2 53 -18 5.1 +4.5
IWD iShares Russell 1000 Value ETF 4.2 19 16 6.0 +5.5
SPYV SPDR Portfolio S&P 500 Value ETF 4.1 4 31 6.4 +5.8
IVE iShares S&P 500 Value ETF 4.1 18 17 6.3 +5.7
SCHG Schwab U.S. Large-Cap Growth ETF 4.1 4 31 3.3 +2.7
VTWG Vanguard Russell 2000 Growth Index Fund 4.1 15 20 0.1 -0.5
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 4.1 49 -14 4.2 +3.7
SPMO Invesco S&P 500 Momentum ETF 4.1 13 22 4.0 +3.4

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

  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

Content on this tab for subscribers only

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 Health Care Equipment 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 4.9 %
Divided by: Fwd. P/BV 5.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 0.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 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.