SPDR S&P Health Care Services ETF
ALTAR
Score™
3.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.1x P/Sales
ratio
0.6x
P/BV
ratio
4.3x Div.
yield
0.5%


  • 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 28, 2011
Assets (mns) $137
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 56
Wgt avg mkt cap (mns) $20,471
Large cap (>$10bn) 32.8%
Mid cap ($2-10bn) 40.6%
Small cap (<$2bn) 19.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COVETRUS, INC. 2.7 %
FULGENT GENETICS, INC. 2.6 %
GUARDANT HEALTH, INC. 2.4 %
1LIFE HEALTHCARE, INC. 2.4 %
HEALTHEQUITY INC 2.3 %
PROGYNY, INC. 2.3 %
CARDIONET INC 2.2 %
PROVIDENCE SERVICE CORP 2.2 %
ENSIGN GROUP INC/THE 2.2 %
ACCRETIVE HEALTH INC 2.2 %
Total 23.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.5 %
PUERTO RICO 0.3 %









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.
33.7% 33.7% 11.8% -- 8.7%

Market Correlations
versus... Beta R-squared
S&P500 1.10 72%
MSCI EAFE 1.00 58%
MSCI Emg. Mkts. 0.83 51%

Technical Indicators
Recent close $104.53
30d moving avg. $98.25
Annualized volatility 24.4%
Short interest (ETF) 0.6%
Short interest (Underlying) 6.6%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.8%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $6,289

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 3.6%


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 U.S. Healthcare Providers ETF 40.4 42 -7 6.4 +2.9
FXH First Trust Health Care AlphaDEX Fund 29.3 62 -27 4.6 +1.0
PSCH Invesco S&P SmallCap Health Care ETF 28.5 29 6 2.8 -0.8
RYH Invesco S&P 500 Equal Weight Health Care ETF 23.1 40 -5 6.3 +2.8
IEHS iShares Evolved U.S. Healthcare Staples ETF 19.4 18 17 4.9 +1.4
JHMH John Hancock Multifactor Healthcare ETF 18.8 40 -5 5.8 +2.2
SPVM Invesco S&P 500 Value with Momentum ETF 17.6 39 -4 7.7 +4.1
QVAL Alpha Architect U.S. Quantitative Value ETF 15.6 49 -14 7.9 +4.4
FHLC Fidelity MSCI Health Care Index ETF 13.7 8 27 5.2 +1.6
VHT Vanguard Health Care Index Fund 13.7 10 25 5.1 +1.5
IYH iShares U.S. Healthcare ETF 13.6 43 -8 5.9 +2.3
XLV Health Care Select Sector SPDR Fund 13.5 13 22 6.9 +3.3
RWL Invesco S&P 500 Revenue ETF 13.2 39 -4 6.2 +2.7
PTH Invesco DWA Healthcare Momentum ETF 12.8 60 -25 -2.3 -5.9
EDOC Global X Telemedicine & Digital Health ETF 12.4 68 -33 1.0 -2.6
SPVU Invesco S&P 500 Enhanced Value ETF 11.9 13 22 9.4 +5.9
COWZ Pacer US Cash Cows 100 ETF 10.5 49 -14 10.2 +6.7
IXJ iShares Global Healthcare ETF 10.0 46 -11 6.1 +2.5
OLD The Long-Term Care ETF 10.0 30 5 5.4 +1.8
RPV Invesco S&P 500 Pure Value ETF 8.2 35 0 9.9 +6.3
VALQ American Century STOXX U.S. Quality Value ETF 8.2 29 6 7.8 +4.2
BMED BlackRock Future Health ETF 8.2 85 -50 -0.9 -4.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 8.2 30 5 6.0 +2.5
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 8.1 30 5 4.9 +1.3
BTEC Principal Healthcare Innovators Index ETF 7.8 42 -7 -2.5 -6.1
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 7.8 15 20 6.0 +2.4
RZG Invesco S&P Smallcap 600 Pure Growth ETF 7.6 35 0 3.8 +0.2
VUSE Vident Core US Equity Fund 7.3 48 -13 7.3 +3.8
OSCV Opus Small Cap Value Plus ETF 7.1 79 -44 4.5 +1.0
RNSC Small Cap US Equity Select ETF 7.0 60 -25 6.0 +2.4
SPMV Invesco S&P 500 Minimum Variance ETF 6.8 10 25 5.4 +1.9
DSTL Distillate US Fundamental Stability & Value ETF 6.8 39 -4 5.6 +2.1
XMMO Invesco S&P MidCap Momentum ETF 6.7 34 1 3.4 -0.2
VOOV Vanguard S&P 500 Value ETF 6.7 10 25 6.6 +3.0
CCON Direxion Connected Consumer ETF 6.7 45 -10 1.2 -2.3
DWAS Invesco DWA SmallCap Momentum ETF 6.6 60 -25 -1.2 -4.8
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 6.6 15 20 5.8 +2.2
WLDR Affinity World Leaders Equity ETF 6.5 47 -12 7.9 +4.4
RTH VanEck Vectors Retail ETF 6.4 35 0 4.8 +1.3
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 6.3 60 -25 3.6 +0.0
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 6.3 24 11 4.9 +1.4
HIPR Direxion High Growth ETF 6.3 40 -5 3.8 +0.2
JSML Janus Henderson Small Cap Growth Alpha ETF 6.2 30 5 5.9 +2.3
FYC First Trust Small Cap Growth AlphaDEX Fund 6.2 70 -35 1.7 -1.9
FTA First Trust Large Cap Value AlphaDEX Fund 6.1 60 -25 7.3 +3.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 6.1 19 16 5.3 +1.7
RWJ Invesco S&P SmallCap 600 Revenue ETF 6.0 39 -4 5.5 +1.9
BUL Pacer US Cash Cows Growth ETF 6.0 60 -25 4.3 +0.8
VTRN Victory Portfolios II VictoryShares Top Veteran Employers ET 6.0 60 -25 6.2 +2.6
JKD iShares Morningstar Large-Cap ETF 6.0 20 15 4.7 +1.2
FTXD First Trust Nasdaq Retail ETF 5.9 60 -25 5.3 +1.7
IJT iShares S&P Small-Cap 600 Growth ETF 5.8 18 17 4.4 +0.8
SLYG SPDR S&P 600 Small Cap Growth ETF 5.8 15 20 4.4 +0.9
DBLV AdvisorShares DoubleLine Value Equity ETF 5.8 91 -56 5.4 +1.9
NVQ QRAFT AI-Enhanced US Next Value ETF 5.7 75 -40 6.6 +3.0
CZA Invesco Zacks Mid-Cap ETF 5.7 69 -34 5.6 +2.0
VETS Pacer Military Times Best Employers ETF 5.6 60 -25 6.1 +2.5
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 5.5 20 15 6.6 +3.0
RNMC Mid Cap US Equity Select ETF 5.5 60 -25 6.0 +2.5
CLRG IQ Chaikin U.S. Large Cap ETF 5.5 25 10 5.0 +1.4
FUNL CornerCap Fundametrics Large-Cap ETF 5.5 50 -15 7.2 +3.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 5.4 17 18 5.6 +2.1
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 5.4 25 10 6.8 +3.2
VTV Vanguard Value Index Fund 5.4 4 31 6.5 +2.9
SPGP Invesco S&P 500 GARP ETF 5.3 34 1 6.2 +2.6
MGV Vanguard Mega Cap Value ETF 5.3 7 28 6.4 +2.9
NULV Nuveen ESG Large-Cap Value ETF 5.3 35 0 6.0 +2.4
VFVA Vanguard U.S. Value Factor ETF 5.2 14 21 8.4 +4.9
VSDA VictoryShares Dividend Accelerator ETF 5.2 35 0 4.6 +1.1
VLUE iShares MSCI USA Value Factor ETF 5.2 15 20 9.6 +6.0
VFMF Vanguard U.S. Multifactor ETF 5.2 19 16 6.1 +2.5
LRGF iShares Edge MSCI Multifactor USA ETF 5.1 20 15 6.0 +2.5
FVAL Fidelity Value Factor ETF 5.1 29 6 6.8 +3.2
JVAL JPMorgan U.S. Value Factor ETF 5.1 12 23 7.1 +3.5
EPS WisdomTree U.S. Earnings 500 Fund 5.1 8 27 5.9 +2.3
IUS Invesco Strategic US ETF 5.1 19 16 5.4 +1.9
LNGR Global X Longevity Thematic ETF 5.1 50 -15 2.9 -0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 5.0 20 15 5.6 +2.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 5.0 20 15 6.1 +2.6
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 4.9 20 15 3.7 +0.1
QGRO American Century STOXX U.S. Quality Growth ETF 4.9 29 6 3.7 +0.1
ESGS Columbia Sustainable U.S. Equity Income ETF 4.9 35 0 7.4 +3.9
VAMO Cambria Value & Momentum ETF 4.9 63 -28 5.4 +1.8
ROUS Hartford Multifactor US Equity ETF 4.8 19 16 5.8 +2.3
SYV SPDR MFS Systematic Value Equity ETF 4.8 60 -25 5.9 +2.3
CALF Pacer US Small Cap Cash Cows 100 ETF 4.8 59 -24 8.9 +5.4
FXG First Trust Consumer Staples AlphaDEX Fund 4.8 64 -29 7.7 +4.2
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 4.8 29 6 7.2 +3.7
XSMO Invesco S&P SmallCap Momentum ETF 4.8 39 -4 3.7 +0.1
HTEC ROBO Global Healthcare Technology & Innovation ETF 4.7 68 -33 0.9 -2.7
PPH VanEck Vectors Pharmaceutical ETF 4.7 36 -1 10.5 +6.9
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 4.7 25 10 5.8 +2.3
IEFN iShares Evolved U.S. Financials ETF 4.7 18 17 7.5 +4.0
ROSC Hartford Multifactor Small Cap ETF 4.6 34 1 6.5 +3.0
JOET Virtus Terranova US Quality Momentum ETF 4.6 29 6 4.6 +1.0
PAWZ ProShares Pet Care ETF 4.6 50 -15 2.3 -1.3
PRF Invesco FTSE RAFI US 1000 ETF 4.6 39 -4 5.8 +2.2
SYE SPDR MFS Systematic Core Equity ETF 4.4 60 -25 4.7 +1.2

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 Health Care Services ETF
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 14.3 %
Divided by: Fwd. P/BV 3.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 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.