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) | $5 |
| 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
| BOSTON SCIENTIFIC CORP | 2.7 % |
| VERTEX PHARMACEUTICALS INC | 2.6 % |
| ALCON, INC. | 2.6 % |
| METTLER-TOLEDO INTERNATIONAL | 2.5 % |
| PENUMBRA, INC. | 2.4 % |
| STRYKER CORP | 2.3 % |
| AMERISOURCEBERGEN CORP | 2.3 % |
| WEST PHARMACEUTICAL SERVICES | 2.2 % |
| DAIICHI SANKYO CO LTD | 2.2 % |
| RESMED INC | 2.2 % |
Constituent Breakdown
| Number of holdings | 143 |
| Herfindahl-Hirschman Index | 134 |
| 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 | 73.4 % |
 |
IRELAND | 4.4 % |
 |
SWITZERLAND | 3.5 % |
 |
BRITAIN | 2.8 % |
 |
GERMANY | 2.5 % |
 |
JAPAN | 2.2 % |
 |
NETHERLANDS | 2.1 % |
 |
BELGIUM | 1.8 % |
 |
CHINA | 1.1 % |
 |
DENMARK | 0.7 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -1.3% | -8.1% | -11.8% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.76 | 61% |
| MSCI EAFE | 0.75 | 61% |
| MSCI Emg Mkts | 0.61 | 39% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.45% |
| ADV of underlying (mns) | $11,035 |
Technical Indicators
| Recent close | $22.50 |
| 30d moving avg. | $23.28 |
| Annualized volatility | 18.9% |
| Relative strength (RSI) | 35 |
| 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 |
|---|---|---|---|---|
| RYH | Invesco S&P 500 Equal Weight Health Care ETF | 38.9% | -45 bp | +5.9% |
| IBB | iShares NASDAQ Biotechnology ETF | 31.7% | -41 bp | -1.3% |
| FXH | First Trust Health Care AlphaDEX Fund | 31.7% | -24 bp | +4.8% |
| MDEV | First Trust Indxx Medical Devices ETF | 31.5% | -15 bp | +1.3% |
| GDOC | Goldman Sachs Future Health Care Equity ETF | 31.3% | -10 bp | -0.3% |
| HTEC | ROBO Global Healthcare Technology & Innovation ETF | 31.3% | -17 bp | -1.9% |
| FHLC | Fidelity MSCI Health Care Index ETF | 28.7% | -77 bp | +4.6% |
| VHT | Vanguard Health Care Index Fund | 28.6% | -75 bp | +4.6% |
| IYH | iShares U.S. Healthcare ETF | 26.8% | -46 bp | +5.3% |
| WDNA | WisdomTree BioRevolution Fund | 25.6% | -40 bp | -6.2% |
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 3/17/2023
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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
1.9%
Cat. Avg
4.4%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 1.9% |
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 338 funds in the Global Equities category, with an average ALTAR Score™
of 4.4% and a standard deviation of
5.0%. BMED's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places BMED in the 31st 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 | |
| Update |
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 | 45.0 | 130 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .