PJP
Invesco Pharmaceuticals ETF
The Invesco Dynamic Pharmaceuticals Portfolio ETF tracks an index of US pharmaceutical companies selected and weighted based on various fundamental and risk factors.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
284.7 M
ASSETS UNDER MGMT
57 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 23, 2005 |
| Assets (mns) | $285 |
| Expense ratio | 57 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ABBOTT LABORATORIES | 5.8 % |
| PFIZER INC | 5.6 % |
| JOHNSON & JOHNSON | 5.6 % |
| AMGEN INC | 5.4 % |
| ABBVIE INC | 5.3 % |
| ELI LILLY & CO | 5.3 % |
| MERCK & CO. INC. | 5.1 % |
| CORCEPT THERAPEUTICS INC | 4.7 % |
| REGENERON PHARMACEUTICALS | 4.5 % |
| PACIRA PHARMACEUTICALS INC | 3.9 % |
Constituent Breakdown
| Number of holdings | 25 |
| Herfindahl-Hirschman Index | 427 |
| Wgt avg mkt cap (mns) | $149,749 |
| Large cap (>$10bn) | 60.5% |
| Mid cap ($2-10bn) | 17.2% |
| Small cap (<$2bn) | 22.4% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 90.6 % |
 |
IRELAND | 6.1 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 15.1% | 21.7% | 11.7% | 5.1% | 10.0% | 4.8% | 10.9% | Volatility | 11.9% | 12.9% | 15.7% | 15.6% | 19.3% | 19.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.49 | 46% |
| MSCI EAFE | 0.48 | 43% |
| MSCI Emg Mkts | 0.33 | 19% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.12% |
| ADV of underlying (mns) | $10,459 |
Technical Indicators
| Recent close | $87.32 |
| 30d moving avg. | $86.99 |
| Annualized volatility | 12.9% |
| Relative strength (RSI) | 61 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 6.9% |
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. PJP |
Expenses vs. PJP |
ALTAR Score™ vs. PJP |
|---|---|---|---|---|
| FTXH | First Trust Nasdaq Pharmaceuticals ETF | 54.7% | +3 bp | -0.6% |
| XPH | SPDR S&P Pharmaceuticals ETF | 44.3% | -22 bp | -4.6% |
| MEDX | Horizon Kinetics Medical ETF | 39.4% | +28 bp | -10.2% |
| IHE | iShares U.S. Pharmaceuticals ETF | 37.3% | -17 bp | -1.6% |
| XLV | Health Care Select Sector SPDR Fund | 37.2% | -48 bp | -2.9% |
| IYH | iShares U.S. Healthcare ETF | 36.9% | -17 bp | -3.7% |
| FHLC | Fidelity MSCI Health Care Index ETF | 35.8% | -49 bp | -4.2% |
| VHT | Vanguard Health Care ETF | 33.4% | -47 bp | -4.5% |
| PPH | VanEck Pharmaceutical ETF | 32.5% | -21 bp | -0.9% |
| IXJ | iShares Global Healthcare ETF | 29.4% | -15 bp | -3.8% |
Risk and Returns: PJP 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 10/21/2024
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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
PJP
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
PJP
9.8%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 933 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. PJP's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places PJP in the 96th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PJPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| PJP (57 bp) Percentile rank | 63 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PJP | 57.0 | 12.3 | 69.3 |
| Peer Avg. | 44.1 | 16.7 | 60.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .