SPDR S&P Pharmaceuticals ETF
ALTAR
Score™
6.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.7x P/Sales
ratio
2.2x
P/BV
ratio
2.2x Div.
yield
1.6%


  • 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 22, 2006
Assets (mns) $177
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 41
Wgt avg mkt cap (mns) $55,419
Large cap (>$10bn) 36.5%
Mid cap ($2-10bn) 36.1%
Small cap (<$2bn) 27.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ELI LILLY & CO 6.1 %
ZOETIS INC 5.0 %
ALLERGAN PLC 5.0 %
JOHNSON & JOHNSON 4.9 %
CATALENT INC 4.8 %
PERRIGO CO 4.8 %
HORIZON PHARMA PLC 4.7 %
BRISTOL-MYERS SQUIBB CO 4.7 %
MERCK & CO. INC. 4.6 %
PFIZER INC 4.5 %
Total 49.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 68.9 %
IRELAND 21.6 %
BRITAIN 4.2 %
CAYMAN ISLANDS 0.7 %
SINGAPORE 0.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.9% -12.6% -8.5% 7.8% 8.3%

Market Correlations
versus... Beta R-squared
S&P500 1.22 66%
MSCI EAFE 1.07 49%
MSCI Emg. Mkts. 0.81 41%

Technical Indicators
Recent close $35.08
30d moving avg. $38.15
Annualized volatility 22.9%
Short interest (ETF) 29.9%
Short interest (Underlying) 8.2%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 193
Turnover 3.8%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $10,145

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 6.4%


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 62.7 42 -7 6.5 +0.1
FTXH First Trust Nasdaq Pharmaceuticals ETF 54.6 60 -25 7.9 +1.5
PJP Invesco Dynamic Pharmaceuticals ETF 48.4 56 -21 12.5 +6.1
PPH VanEck Vectors Pharmaceutical ETF 43.8 36 -1 11.8 +5.4
IEIH iShares Evolved U.S. Innovative Healthcare ETF 33.9 18 17 4.5 -1.9
XLV Health Care Select Sector SPDR Fund 25.5 13 22 8.1 +1.7
IYH iShares U.S. Healthcare ETF 25.4 43 -8 7.1 +0.7
VHT Vanguard Health Care Index Fund 25.3 10 25 6.5 +0.1
FHLC Fidelity MSCI Health Care Index ETF 25.2 8 27 6.6 +0.2
JHMH John Hancock Multifactor Healthcare ETF 22.6 40 -5 7.2 +0.7
IXJ iShares Global Healthcare ETF 20.2 46 -11 7.2 +0.8
RYH Invesco S&P 500 Equal Weight Health Care ETF 15.8 40 -5 7.9 +1.5
SPHQ Invesco S&P 500 Quality ETF 15.4 15 20 6.4 -0.1
FXH First Trust Health Care AlphaDEX Fund 14.3 62 -27 6.6 +0.2
OUSA O'Shares FTSE US Quality Dividend ETF 13.9 48 -13 7.0 +0.5
HDV iShares Core High Dividend ETF 13.9 8 27 8.1 +1.7
PWV Invesco Dynamic Large Cap Value ETF 13.2 55 -20 10.6 +4.2
FTCS First Trust Capital Strength ETF 13.0 60 -25 6.1 -0.3
DURA VanEck Vectors Morningstar Durable Dividend ETF 12.7 29 6 8.4 +2.0
DJD Invesco Dow Jones Industrial Average Dividend ETF 12.6 7 28 8.3 +1.9
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 12.1 35 0 7.9 +1.5
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 12.1 75 -40 7.5 +1.1
VYM Vanguard High Dividend Yield Index ETF 12.0 6 29 8.9 +2.5
CNCR Loncar Cancer Immunotherapy ETF 11.9 79 -44 -4.8 -11.2
SYE SPDR MFS Systematic Core Equity ETF 11.8 60 -25 8.2 +1.8
EDOW First Trust Dow 30 Equal Weight ETF 11.2 50 -15 7.2 +0.8
HLAL Wahed FTSE USA Shariah ETF 11.1 50 -15 6.2 -0.2
MGV Vanguard Mega Cap Value ETF 10.9 7 28 8.8 +2.4
SFYF SoFi 50 ETF 10.6 29 6 8.4 +2.0
RFDA RiverFront Dynamic US Dividend Advantage ETF 10.5 52 -17 7.9 +1.5
QLV FlexShares US Quality Low Volatility Index Fund 10.2 22 13 6.4 -0.0
SCHV Schwab U.S. Large-Cap Value ETF 10.0 4 31 9.0 +2.5
QUAL iShares MSCI Usa Quality Factor ETF 9.9 15 20 6.9 +0.5
VTV Vanguard Value Index Fund 9.8 4 31 9.1 +2.7
BTEC Principal Healthcare Innovators Index ETF 9.6 42 -7 -5.2 -11.6
DGRO iShares Core Dividend Growth ETF 9.6 8 27 8.4 +1.9
SYV SPDR MFS Systematic Value Equity ETF 9.4 60 -25 9.8 +3.4
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 9.3 49 -14 6.1 -0.3
RAFE PIMCO RAFI ESG U.S. ETF 9.3 29 6 10.3 +3.9
JKF iShares Morningstar Large Cap Value ETF 9.3 25 10 9.5 +3.1
SCHD Schwab U.S. Dividend Equity ETF 9.0 6 29 9.2 +2.8
STLV iShares Factors US Value Style ETF 8.8 25 10 10.1 +3.6
SDGA Impact Shares Sustainable Development Goals Global ETF 8.5 75 -40 6.9 +0.5
QDF FlexShares Quality Dividend Index Fund 8.5 37 -2 8.8 +2.4
IWX iShares Russell Top 200 Value ETF 8.3 20 15 8.7 +2.3
VSL Volshares Large Capital ETF 8.3 65 -30 8.7 +2.3
QDEF FlexShares Quality Dividend Defensive Index Fund 8.3 37 -2 7.9 +1.5
FPX First Trust US IPO Index Fund 8.3 59 -24 6.7 +0.3
RECS Columbia Research Enhanced Core ETF 8.3 15 20 7.5 +1.1
GARD Reality Shares DIVCON Dividend Guard ETF 8.3 129 -94 4.7 -1.7
LVHD Legg Mason Low Volatility High Dividend ETF 8.1 27 8 8.6 +2.2
NACP Impact Shares NAACP Minority Empowerment ETF 8.1 75 -40 6.2 -0.2
LEAD Reality Shares DIVCON Leaders Dividend ETF 8.1 43 -8 5.7 -0.8
PSCH Invesco S&P SmallCap Health Care ETF 8.0 29 6 4.2 -2.2
DVOP Source Dividend Opportunity ETF 8.0 50 -15 11.2 +4.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 8.0 28 7 8.2 +1.8
PAWZ ProShares Pet Care ETF 7.8 50 -15 3.2 -3.2
SYG SPDR MFS Systematic Growth Equity ETF 7.8 60 -25 6.3 -0.1
DLN WisdomTree U.S. LargeCap Dividend Fund 7.8 28 7 8.0 +1.6
WOMN Impact Shares YWCA Women's Empowerment ETF 7.6 75 -40 6.2 -0.2
BVAL Brand Value ETF 7.6 65 -30 8.9 +2.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 7.6 12 23 6.3 -0.1
DHS WisdomTree U.S. High Dividend Fund 7.6 38 -3 10.5 +4.0
REVS Columbia Research Enhanced Value ETF 7.5 19 16 9.9 +3.4
IOO iShares Global 100 ETF 7.4 40 -5 6.1 -0.3
DIA SPDR Dow Jones Industrial Average ETF Trust 7.4 16 19 7.3 +0.8
FDLO Fidelity Low Volatility Factor ETF 7.4 29 6 6.5 +0.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.4 49 -14 5.5 -1.0
QDYN FlexShares Quality Dividend Dynamic Index Fund 7.4 37 -2 9.1 +2.7
QUS SPDR MSCI USA StrategicFactors ETF 7.3 15 20 7.3 +0.8
XLG Invesco S&P 500 Top 50 ETF 7.3 20 15 5.9 -0.5
OEF iShares S&P 100 ETF 7.3 20 15 6.3 -0.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 7.2 60 -25 6.0 -0.5
PTH Invesco DWA Healthcare Momentum ETF 7.2 60 -25 -4.3 -10.7
FVAL Fidelity Value Factor ETF 7.2 29 6 11.0 +4.5
QDIV Global X S&P 500 Quality Dividend ETF 7.2 20 15 10.8 +4.4
YLDE ClearBridge Dividend Strategy ESG ETF 7.2 60 -25 6.2 -0.3
SHE SPDR SSGA Gender Diversity Index ETF 7.1 20 15 7.4 +1.0
JQUA JPMorgan U.S. Quality Factor ETF 7.1 12 23 6.6 +0.2
EQWL Invesco Russell Top 200 Equal Weight ETF 7.1 25 10 7.5 +1.1
MOO VanEck Vectors Agribusiness ETF 7.1 54 -19 7.5 +1.1
VOOV Vanguard S&P 500 Value ETF 7.0 15 20 9.2 +2.8
SPYV SPDR Portfolio S&P 500 Value ETF 7.0 4 31 9.2 +2.8
IVE iShares S&P 500 Value ETF 6.9 18 17 9.1 +2.7
RFFC RiverFront Dynamic US Flex-Cap ETF 6.9 52 -17 7.6 +1.2
DTD WisdomTree U.S.Total Dividend Fund 6.8 28 7 8.5 +2.1
SPXT ProShares S&P 500 Ex-Technology ETF 6.8 27 8 7.3 +0.9
CCOR Core Alternative ETF 6.7 123 -88 5.3 -1.2
JKD iShares Morningstar Large-Cap ETF 6.7 20 15 7.4 +1.0
MOAT VanEck Vectors Morningstar Wide Moat ETF 6.7 49 -14 8.1 +1.7
FCPI Fidelity Stocks for Inflation ETF 6.6 29 6 9.2 +2.8
PBE Invesco Dynamic Biotechnology & Genome ETF 6.6 57 -22 -1.1 -7.5
IUSV iShares Core S&P U.S. Value ETF 6.6 4 31 9.4 +3.0
IEHS iShares Evolved U.S. Healthcare Staples ETF 6.6 18 17 6.9 +0.5
DFND Reality Shares DIVCON Dividend Defender ETF 6.5 121 -86 4.8 -1.6
QLC FlexShares US Quality Large Cap Index Fund 6.5 32 3 7.4 +1.0
SUSL iShares ESG MSCI USA Leaders ETF 6.5 10 25 6.9 +0.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 6.5 10 25 6.9 +0.5
NULV Nuveen ESG Large-Cap Value ETF 6.5 35 0 9.3 +2.9
LSLT Salt Low truBeta US Market ETF 6.4 0 35 8.5 +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

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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 14.4 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.51
 
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.