SPDR S&P Pharmaceuticals ETF
ALTAR
Score™
3.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
31.9x P/Sales
ratio
3.0x
P/BV
ratio
3.2x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPDR Pharmaceuticals ETF objective is to replicate as closely as possible the performance of the S&P Pharmaceuticals Select Industry Index, an equal-weighted index.

FUND BASICS
Category US Equities
Fund Sponsor SSGA Funds Management Inc
Website www.spdrs.com
Inception date Jun 19, 2006
Assets (mns) $251
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 42
Wgt avg mkt cap (mns) $47,550
Large cap (>$10bn) 39.3%
Mid cap ($2-10bn) 31.6%
Small cap (<$2bn) 24.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
REATA PHARMACEUTICALS, INC. CLASS 6.6 %
CATALENT INC 5.0 %
ELANCO ANIMAL HEALTH, INC. 4.9 %
MYLAN N.V. 4.8 %
PFIZER INC 4.7 %
ROYALTY PHARMA PLC CLASS A 4.6 %
BRISTOL-MYERS SQUIBB CO 4.6 %
JAZZ PHARMACEUTICALS PLC 4.5 %
ZOETIS INC 4.4 %
HORIZON PHARMA PLC 4.3 %
Total 48.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 78.1 %
IRELAND 16.1 %
BRITAIN 4.8 %
CAYMAN ISLANDS 0.9 %







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.
5.3% 17.6% -0.5% 10.4% 10.1%

Market Correlations
versus... Beta R-squared
S&P500 1.11 70%
MSCI EAFE 0.99 54%
MSCI Emg. Mkts. 0.84 50%

Technical Indicators
Recent close $47.85
30d moving avg. $46.85
Annualized volatility 24.8%
Short interest (ETF) 14.4%
Short interest (Underlying) 8.2%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 72
Turnover 1.4%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $5,136

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XPH Expense: 35 bp ALTAR Score™: 3.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XPH
Ticker Fund
Name
Overlap1
vs XPH
(%)
Expense
ratio
(bp)
Savings
vs XPH
(bp)
ALTAR
Score™
(%)
ALTAR
vs XPH
(%)
IHE iShares U.S. Pharmaceuticals ETF 60.9 42 -7 5.2 +1.5
FTXH First Trust Nasdaq Pharmaceuticals ETF 53.5 60 -25 6.9 +3.1
PPH VanEck Vectors Pharmaceutical ETF 44.8 36 -1 11.0 +7.3
PJP Invesco Dynamic Pharmaceuticals ETF 40.2 56 -21 13.0 +9.2
IEIH iShares Evolved U.S. Innovative Healthcare ETF 29.8 18 17 3.4 -0.4
XLV Health Care Select Sector SPDR Fund 22.1 13 22 7.3 +3.5
IYH iShares U.S. Healthcare ETF 22.0 43 -8 6.3 +2.5
FHLC Fidelity MSCI Health Care Index ETF 21.4 8 27 5.6 +1.8
VHT Vanguard Health Care Index Fund 20.7 10 25 5.4 +1.6
JHMH John Hancock Multifactor Healthcare ETF 19.6 40 -5 6.1 +2.3
DURA VanEck Vectors Morningstar Durable Dividend ETF 17.4 29 6 8.2 +4.4
IXJ iShares Global Healthcare ETF 17.1 46 -11 6.4 +2.6
RYH Invesco S&P 500 Equal Weight Health Care ETF 13.9 40 -5 6.8 +3.0
HDV iShares Core High Dividend ETF 12.3 8 27 6.8 +3.0
FXH First Trust Health Care AlphaDEX Fund 12.0 62 -27 5.0 +1.2
OUSA O'Shares FTSE US Quality Dividend ETF 11.8 48 -13 5.6 +1.8
PTH Invesco DWA Healthcare Momentum ETF 11.6 60 -25 -2.5 -6.3
GBLO Global Beta Low Beta ETF 10.4 29 6 7.2 +3.4
HLAL Wahed FTSE USA Shariah ETF 10.1 50 -15 4.1 +0.4
FTCS First Trust Capital Strength ETF 9.8 58 -23 5.1 +1.4
VYM Vanguard High Dividend Yield Index ETF 9.7 6 29 7.0 +3.3
QLV FlexShares US Quality Low Volatility Index Fund 9.3 22 13 4.7 +0.9
PWV Invesco Dynamic Large Cap Value ETF 9.3 56 -21 7.7 +4.0
PAWZ ProShares Pet Care ETF 9.1 50 -15 2.5 -1.3
MGV Vanguard Mega Cap Value ETF 8.9 7 28 6.8 +3.0
PSCH Invesco S&P SmallCap Health Care ETF 8.8 29 6 3.1 -0.6
DGRO iShares Core Dividend Growth ETF 8.6 8 27 6.3 +2.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 8.0 12 23 4.6 +0.8
MTUM iShares MSCI USA Momentum Factor ETF 8.0 15 20 4.0 +0.3
BTEC Principal Healthcare Innovators Index ETF 7.9 42 -7 -1.9 -5.7
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 7.8 30 5 5.3 +1.5
RAFE PIMCO RAFI ESG U.S. ETF 7.7 29 6 7.1 +3.3
REVS Columbia Research Enhanced Value ETF 7.7 19 16 7.2 +3.5
DHS WisdomTree U.S. High Dividend Fund 7.6 38 -3 8.2 +4.4
CNCR Loncar Cancer Immunotherapy ETF 7.5 79 -44 -2.4 -6.1
FLV American Century Focused Large Cap Value ETF 7.5 42 -7 5.9 +2.1
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 7.4 35 0 6.8 +3.0
NACP Impact Shares NAACP Minority Empowerment ETF 7.3 75 -40 4.6 +0.8
VTV Vanguard Value Index Fund 7.3 4 31 6.8 +3.1
VIRS Pacer BioThreat Strategy ETF 7.2 70 -35 4.6 +0.9
STLV iShares Factors US Value Style ETF 7.2 25 10 6.9 +3.1
LVHD Legg Mason Low Volatility High Dividend ETF 7.2 27 8 7.8 +4.0
JKF iShares Morningstar Large Cap Value ETF 7.1 25 10 7.1 +3.3
SPHQ Invesco S&P 500 Quality ETF 7.1 15 20 4.4 +0.7
SYV SPDR MFS Systematic Value Equity ETF 7.1 60 -25 6.8 +3.0
MOAT VanEck Vectors Morningstar Wide Moat ETF 6.9 49 -14 6.3 +2.5
SDGA Impact Shares Sustainable Development Goals Global ETF 6.9 75 -40 5.0 +1.2
SHE SPDR SSGA Gender Diversity Index ETF 6.8 20 15 4.4 +0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 6.8 28 7 6.1 +2.3
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 6.7 75 -40 5.6 +1.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 6.7 28 7 6.2 +2.4
IBBJ Defiance Nasdaq Junior Biotechnology ETF 6.5 45 -10 -1.9 -5.7
LEAD Reality Shares DIVCON Leaders Dividend ETF 6.5 43 -8 4.3 +0.6
XLG Invesco S&P 500 Top 50 ETF 6.4 20 15 4.3 +0.5
SPLV Invesco S&P 500 Low Volatility ETF 6.4 25 10 5.5 +1.7
QUAL iShares MSCI Usa Quality Factor ETF 6.4 15 20 5.1 +1.3
DJD Invesco Dow Jones Industrial Average Dividend ETF 6.4 7 28 6.7 +3.0
RFDA RiverFront Dynamic US Dividend Advantage ETF 6.3 52 -17 5.1 +1.3
QDEF FlexShares Quality Dividend Defensive Index Fund 6.3 37 -2 5.8 +2.0
FLRG Fidelity U.S. Multifactor ETF 6.3 29 6 6.2 +2.4
QDF FlexShares Quality Dividend Index Fund 6.2 37 -2 5.7 +2.0
STLC iShares Factors US Blend Style ETF 6.2 25 10 5.0 +1.2
SYE SPDR MFS Systematic Core Equity ETF 6.2 60 -25 5.4 +1.6
SCHV Schwab U.S. Large-Cap Value ETF 6.1 4 31 6.3 +2.6
CCOR Core Alternative ETF 6.1 109 -74 4.5 +0.7
HUSV First Trust Horizon Managed Volatility Domestic ETF 6.1 70 -35 5.6 +1.9
IOO iShares Global 100 ETF 6.0 40 -5 4.5 +0.7
IWX iShares Russell Top 200 Value ETF 6.0 20 15 6.3 +2.6
USDY Pacific Global US Equity Income ETF 6.0 29 6 7.7 +3.9
FDLO Fidelity Low Volatility Factor ETF 6.0 29 6 5.0 +1.2
IEHS iShares Evolved U.S. Healthcare Staples ETF 6.0 18 17 5.4 +1.7
DTD WisdomTree U.S.Total Dividend Fund 5.9 28 7 6.3 +2.5
EDOW First Trust Dow 30 Equal Weight ETF 5.9 50 -15 5.3 +1.6
RECS Columbia Research Enhanced Core ETF 5.9 15 20 5.3 +1.6
MOO VanEck Vectors Agribusiness ETF 5.8 56 -21 4.9 +1.1
YLDE ClearBridge Dividend Strategy ESG ETF 5.8 60 -25 4.6 +0.8
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 5.8 25 10 5.7 +1.9
LSLT Salt Low truBeta US Market ETF 5.8 60 -25 5.7 +1.9
VOOV Vanguard S&P 500 Value ETF 5.7 10 25 6.8 +3.0
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 5.7 56 -21 6.2 +2.5
AUSF Global X Adaptive U.S. Factor ETF 5.6 27 8 8.6 +4.8
JQUA JPMorgan U.S. Quality Factor ETF 5.6 12 23 5.2 +1.4
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 5.5 49 -14 4.3 +0.6
QUS SPDR MSCI USA StrategicFactors ETF 5.5 15 20 5.5 +1.7
QDYN FlexShares Quality Dividend Dynamic Index Fund 5.5 37 -2 5.7 +1.9
WOMN Impact Shares YWCA Women's Empowerment ETF 5.5 75 -40 3.9 +0.1
SPYV SPDR Portfolio S&P 500 Value ETF 5.5 4 31 6.9 +3.1
IVE iShares S&P 500 Value ETF 5.5 18 17 6.7 +2.9
STLG iShares Factors US Growth Style ETF 5.4 25 10 4.2 +0.4
USMV iShares Edge MSCI Min Vol USA ETF 5.3 15 20 5.4 +1.6
IBB iShares NASDAQ Biotechnology ETF 5.3 46 -11 0.6 -3.2
SPXT ProShares S&P 500 Ex-Technology ETF 5.3 27 8 5.2 +1.4
OEF iShares S&P 100 ETF 5.3 20 15 4.5 +0.8
FPX First Trust US IPO Index Fund 5.2 58 -23 1.3 -2.5
DFND Reality Shares DIVCON Dividend Defender ETF 5.2 144 -109 3.6 -0.2
FQAL Fidelity Quality Factor ETF 5.1 29 6 5.2 +1.4
IUSV iShares Core S&P U.S. Value ETF 5.1 4 31 6.9 +3.1
VIG Vanguard Dividend Appreciation Index Fund 5.1 6 29 5.1 +1.3
RNDV US Equity Dividend Select ETF 5.1 50 -15 7.9 +4.1

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

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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 Pharmaceuticals 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 12.1 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 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.