Health Care Select Sector SPDR
ALTAR
Score™
7.2% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.9x P/Sales
ratio
1.6x
P/BV
ratio
3.7x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Select Sector SPDRŽ holding S&P 500 stocks in the Health Care sector. Component industries include Health Care Equipment & Services; and Pharmaceutical & Biotechnology. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index. For product information and a prospectus visit www.sectorspdr.com.

FUND BASICS
Category US Equities
Fund Sponsor State Street Global Advisors
Website www.sectorspdrs.com
Inception date Dec 22, 1998
Assets (mns) $19,124
Currency USD
Expense ratio 13 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 62
Wgt avg mkt cap (mns) $143,913
Large cap (>$10bn) 99.6%
Mid cap ($2-10bn) 0.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 10.0 %
UNITEDHEALTH GROUP INC 7.2 %
MERCK & CO. INC. 6.0 %
PFIZER INC 5.8 %
MEDTRONIC PLC 4.1 %
ABBOTT LABORATORIES 4.1 %
AMGEN INC 3.8 %
BRISTOL-MYERS SQUIBB CO 3.6 %
ABBVIE INC 3.5 %
THERMO FISHER SCIENTIFIC INC 3.4 %
Total 51.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.5 %
IRELAND 5.9 %
BRITAIN 0.3 %








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.
16.4% 5.5% 9.1% 14.4% 8.1%

Market Correlations
versus... Beta R-squared
S&P500 0.86 61%
MSCI EAFE 0.75 39%
MSCI Emg. Mkts. 0.57 36%

Technical Indicators
Recent close $99.75
30d moving avg. $96.36
Annualized volatility 13.2%
Short interest (ETF) 12.0%
Short interest (Underlying) 2.0%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 9,776
Turnover 5.1%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $18,829

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XLV Expense: 13 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLV
Ticker Fund
Name
Overlap1
vs XLV
(%)
Expense
ratio
(bp)
Savings
vs XLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs XLV
(%)
IYH iShares US Healthcare 90.3 43 -30 6.3 -1.0
FHLC Fidelity MSCI Health Care 85.3 8 5 5.8 -1.4
VHT Vanguard Health Care 83.5 10 3 5.9 -1.3
JHMH John Hancock Multifactor Health Care 72.4 40 -27 6.6 -0.6
IXJ iShares S&P Global Healthcare 66.7 46 -33 6.4 -0.8
RYH Invesco S&P Equal Weight Healthcare 60.1 40 -27 7.0 -0.2
IEHS iShares Evolved U.S. Healthcare Staples 57.5 18 -5 5.9 -1.3
IEIH iShares Evolved U.S. Innovative Healthcare 49.4 18 -5 4.4 -2.8
PJP Invesco Dynamic Pharmaceuticals 39.6 56 -43 9.4 +2.2
FXH First Trust Health Care Alphadex 38.9 63 -50 7.1 -0.2
FTXH First Trust Nasdaq Pharmaceuticals 35.7 60 -47 5.4 -1.9
IHE iShares DJ US Pharmaceuticals 30.4 42 -29 5.4 -1.8
GDNA Goldman Sachs Motif Human Evolution 28.6 50 -37 1.0 -6.2
LNGR Global X Longevity Thematic 27.4 50 -37 3.3 -3.9
IHI iShares DJ US Medical Devices 27.4 43 -30 3.8 -3.4
PPH VanEck Vectors Pharmaceuticals 27.3 36 -23 9.4 +2.2
DURA VanEck Vectors Morningstar Durable Dividend 24.2 29 -16 6.8 -0.5
HLAL Wahed FTSE USA Shariah 23.3 50 -37 5.7 -1.5
XPH SPDR S&P Pharmaceuticals ETF 23.1 35 -22 4.3 -2.9
MGV Vanguard Mega Cap 300 Value 21.2 7 6 7.1 -0.2

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

  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:
Health Care Select Sector SPDR
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 23.2 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 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.