BMED
BlackRock Future Health ETF
BMED is actively managed to invest in global equities in the health sciences industry.
Fund Basics
Fund sponsor | Blackrock |
Category | Global Equities |
Asset class | Equity |
Website | link... |
Inception date | Sep 29, 2020 |
Assets (mns) | $4 |
Expense ratio | 85 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Annually |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
VERTEX PHARMACEUTICALS INC | 3.1 % |
BOSTON SCIENTIFIC CORP | 3.1 % |
ARGENX SE ADR | 3.0 % |
ALCON, INC. | 3.0 % |
INTUITIVE SURGICAL INC | 3.0 % |
ELI LILLY & CO | 2.9 % |
AMGEN INC | 2.9 % |
AMERISOURCEBERGEN CORP | 2.8 % |
WEST PHARMACEUTICAL SERVICES | 2.7 % |
ALIGN TECHNOLOGY INC | 2.2 % |
Constituent Breakdown
Number of holdings | 135 |
Herfindahl-Hirschman Index | 151 |
Wgt avg mkt cap (mns) | $28,269 |
Large cap (>$10bn) | 69.0% |
Mid cap ($2-10bn) | 23.9% |
Small cap (<$2bn) | 6.2% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 70.1 % | |
NETHERLANDS | 4.8 % | |
SWITZERLAND | 4.7 % | |
IRELAND | 4.1 % | |
BRITAIN | 3.3 % | |
DENMARK | 2.9 % | |
GERMANY | 2.1 % | |
BELGIUM | 1.9 % | |
CHINA | 0.9 % | |
FRANCE | 0.8 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
3.4% | 8.1% | -11.4% | -- | -- | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.77 | 61% |
MSCI EAFE | 0.75 | 62% |
MSCI Emg Mkts | 0.59 | 37% |
Liquidity Measures
Avg. volume (000) | 2 |
Turnover | 1.3% |
Avg. Bid/Ask (% of price) | 0.42% |
ADV of underlying (mns) | $11,035 |
Technical Indicators
Recent close | $22.58 |
30d moving avg. | $23.59 |
Annualized volatility | 17.8% |
Relative strength (RSI) | 34 |
Short interest (ETF) | 0.1% |
Short interest (underlying) | 0.0% |
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. BMED |
Expenses vs. BMED |
ALTAR Score™ vs. BMED |
---|---|---|---|---|
IBB | iShares NASDAQ Biotechnology ETF | 34.0% | -40 bp | -1.4% |
RSPH | Invesco S&P 500 Equal Weight Health Care ETF | 31.0% | -45 bp | +6.7% |
GDOC | Goldman Sachs Future Health Care Equity ETF | 29.4% | -10 bp | -0.3% |
FHLC | Fidelity MSCI Health Care Index ETF | 28.4% | -77 bp | +4.5% |
VHT | Vanguard Health Care Index Fund | 28.3% | -75 bp | +4.5% |
IBBQ | Invesco Nasdaq Biotechnology ETF | 28.2% | -66 bp | -0.8% |
FBT | First Trust NYSE Arca Biotechnology Index Fund | 27.9% | -29 bp | +0.5% |
FXH | First Trust Health Care AlphaDEX Fund | 27.4% | -24 bp | +6.0% |
IYH | iShares U.S. Healthcare ETF | 26.4% | -46 bp | +5.1% |
PINK | Simplify Health Care ETF | 26.4% | -35 bp | +2.9% |
Risk and Returns: BMED 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
2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
---|---|---|---|---|---|---|---|---|
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
2021 | 2022E | Fwd Est | 2023E | |
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 9/28/2023
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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
BMED
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™
BMED
2.1%
Cat. Avg
4.2%
Fund Category: Global Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 2.1% |
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 345 funds in the Global Equities category, with an average ALTAR Score™
of 4.2% and a standard deviation of
5.2%. BMED's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places BMED in the 34th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BMED
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
Bid/Ask Spread | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
BMED | 85.0 | 42.0 | 127 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .