BBH
VanEck Biotech ETF
VanEck Vectors Biotech ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the US Listed Biotech 25 Index.
US
EQUITY
Passive
MANAGEMENT STYLE
35 bp
EXPENSES
$457.1 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 20, 2011 |
| Assets (mns) | $457 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| AMGEN INC | 15.7 % |
| VERTEX PHARMACEUTICALS INC | 10.0 % |
| REGENERON PHARMACEUTICALS | 8.0 % |
| GILEAD SCIENCES INC | 7.4 % |
| ARGENX SE ADR | 5.3 % |
| IQVIA HOLDINGS INC | 4.9 % |
| ICON PLC | 4.4 % |
| BIOGEN IDEC INC | 4.2 % |
| MODERNA, INC. | 3.9 % |
| ILLUMINA INC | 3.8 % |
Constituent Breakdown
| Number of holdings | 28 |
| Herfindahl-Hirschman Index | 653 |
| Wgt avg mkt cap (mns) | $68,521 |
| Large cap (>$10bn) | 88.5% |
| Mid cap ($2-10bn) | 11.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 82.0 % |
 |
NETHERLANDS | 7.3 % |
 |
IRELAND | 4.4 % |
 |
CHINA | 3.3 % |
 |
GERMANY | 2.1 % |
 |
SWITZERLAND | 0.9 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -0.3% | 6.1% | 6.8% | -6.2% | 5.4% | 5.8% | 13.2% | Volatility | 15.9% | 16.0% | 20.0% | 22.2% | 23.8% | 23.4% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.81 | 59% |
| MSCI EAFE | 0.76 | 48% |
| MSCI Emg Mkts | 0.52 | 23% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.10% |
| ADV of underlying (mns) | $11,594 |
Technical Indicators
| Recent close | $177.77 |
| 30d moving avg. | $172.36 |
| Annualized volatility | 19.1% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 3.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BBH |
Expenses vs. BBH |
ALTAR Score™ vs. BBH |
|---|---|---|---|---|
| IBB | iShares Biotechnology ETF | 62.8% | +10 bp | -3.8% |
| IBBQ | Invesco Nasdaq Biotechnology ETF | 53.3% | -16 bp | -3.5% |
| FBT | First Trust NYSE Arca Biotechnology Index Fund | 49.6% | +21 bp | -2.3% |
| PBE | Invesco Biotechnology & Genome ETF | 35.5% | +23 bp | -4.7% |
| XBI | SPDR S&P BIOTECH ETF | 33.6% | 0 bp | -7.7% |
| HELX | Franklin Genomic Advancements ETF | 29.5% | +15 bp | -4.2% |
| CANC | Tema Oncology ETF | 27.4% | +40 bp | -8.4% |
| BBP | Virtus LifeSci Biotech Products ETF | 26.9% | +44 bp | -8.2% |
| GNOM | Global X Genomics & Biotechnology ETF | 26.7% | +15 bp | -9.4% |
| FTXH | First Trust Nasdaq Pharmaceuticals ETF | 25.5% | +25 bp | +3.8% |
Risk and Returns: BBH vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BBH
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
BBH
4.3%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.3% |
Recommendation
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.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. BBH's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places BBH in the 27th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BBH
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| BBH (35 bp) Percentile rank | 56 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BBH | 35.0 | 9.8 | 44.8 |
| Peer Avg. | 29.8 | 6.8 | 36.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .