SPDR S&P Health Care Services ETF
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.7x P/Sales
ratio
0.4x
P/BV
ratio
2.1x Div.
yield
0.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR S&P Health Care Services 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 Services Select Industry Index.

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Sep 29, 2011
Assets (mns) $104
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 49
Wgt avg mkt cap (mns) $18,241
Large cap (>$10bn) 36.3%
Mid cap ($2-10bn) 35.2%
Small cap (<$2bn) 28.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMN HEALTHCARE SERVICES INC 2.9 %
AMEDISYS INC 2.7 %
LHC GROUP INC 2.7 %
MCKESSON CORP 2.7 %
DAVITA INC 2.6 %
ENCOMPASS HEALTH CORPORATION 2.6 %
LABORATORY CRP OF AMER HLDGS 2.6 %
CIGNA CORP 2.6 %
ADDUS HOMECARE CORP 2.5 %
CENTENE CORP 2.5 %
Total 26.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.2 %
PUERTO RICO 0.9 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.9% 6.0% -7.5% -- 5.8%

Market Correlations
versus... Beta R-squared
S&P500 1.19 57%
MSCI EAFE 0.94 30%
MSCI Emg. Mkts. 0.59 20%

Technical Indicators
Recent close $77.45
30d moving avg. $75.33
Annualized volatility 19.1%
Short interest (ETF) 0.4%
Short interest (Underlying) 6.6%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.4%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $4,635

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the SPDR S&P Health Care Services ETF ETF based on the alternatives' overlap in portfolio holdings with XHS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XHS Expense: 35 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XHS
Ticker Fund
Name
Overlap1
vs XHS
(%)
Expense
ratio
(bp)
Savings
vs XHS
(bp)
ALTAR
Score™
(%)
ALTAR
vs XHS
(%)
IHF iShares US Healthcare Providers 43.1 43 -8 7.1 +1.7
FXH First Trust Health Care Alphadex 26.5 62 -27 5.3 -0.1
RYH Invesco S&P Equal Weight Healthcare 25.8 40 -5 6.6 +1.2
JHMH John Hancock Multifactor Health Care 22.3 40 -5 6.2 +0.9
IEHS iShares Evolved U.S. Healthcare Staples 22.2 18 17 5.6 +0.2
PSCH Invesco S&P Small Cap Health Care 21.9 29 6 3.2 -2.2
FHLC Fidelity MSCI Health Care 15.3 8 27 5.6 +0.3
XLV Health Care Select Sector SPDR 15.1 13 22 7.0 +1.6
VHT Vanguard Health Care 15.0 10 25 5.5 +0.2
IYH iShares US Healthcare 14.7 43 -8 6.1 +0.7
RWL Invesco S&P 500 Revenue ETF 12.7 39 -4 7.2 +1.8
FLAG Forensic Accounting 11.3 152 -117 8.2 +2.8
IXJ iShares S&P Global Healthcare 11.1 46 -11 6.1 +0.7
ESGL Invesco ESG Revenue ETF 10.8 40 -5 8.4 +3.0
OLD Long-Term Care 10.6 35 0 4.3 -1.1
PTH Invesco DWA Healthcare Momentum 10.0 60 -25 -3.2 -8.5
SPVU Invesco S&P 500 Value 8.5 13 22 10.5 +5.2
VUSE Vident Core US Equity 8.0 48 -13 7.6 +2.2
ROGS Lattice Global Small Cap Strategy 8.0 34 1 7.5 +2.1

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

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 Services ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.0 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.