XHE
SPDR S&P Health Care Equipment ETF
SPDR S&P Health Care Equipment ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible the performance of the S&P Health Care Equipment Select Industry Index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
211.8 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 26, 2011 |
| Assets (mns) | $212 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NOVOCURE LIMITED | 3.2 % |
| MASIMO CORPORATION | 2.8 % |
| ALPHATEC HOLDINGS INC | 2.7 % |
| INTEGRA LIFESCIENCES HOLDING | 2.4 % |
| PENUMBRA, INC. | 2.3 % |
| INARI MEDICAL, INC. | 2.1 % |
| GLOBUS MEDICAL INC - A | 2.1 % |
| INSULET CORP | 2.1 % |
| IRHYTHM TECHNOLOGIES, INC. | 2.0 % |
| ATRICURE INC | 2.0 % |
Constituent Breakdown
| Number of holdings | 62 |
| Herfindahl-Hirschman Index | 177 |
| Wgt avg mkt cap (mns) | $23,750 |
| Large cap (>$10bn) | 30.0% |
| Mid cap ($2-10bn) | 50.1% |
| Small cap (<$2bn) | 18.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 88.3 % |
 |
BRITAIN | 5.1 % |
 |
IRELAND | 3.2 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.2% | 20.5% | -0.7% | -7.1% | 1.2% | 1.5% | 5.4% | Volatility | 19.0% | 20.3% | 21.6% | 26.2% | 26.1% | 22.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.09 | 64% |
| MSCI EAFE | 1.07 | 61% |
| MSCI Emg Mkts | 0.75 | 29% |
Liquidity Measures
| Avg. volume (000) | 9 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $5,713 |
Technical Indicators
| Recent close | $88.25 |
| 30d moving avg. | $91.86 |
| Annualized volatility | 23.9% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 4.4% |
| Short interest (underlying) | 5.3% |
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. XHE |
Expenses vs. XHE |
ALTAR Score™ vs. XHE |
|---|---|---|---|---|
| IHI | iShares U.S. Medical Devices ETF | 39.0% | +5 bp | +2.1% |
| MDEV | First Trust Indxx Medical Devices ETF | 38.0% | +35 bp | +2.4% |
| RSPH | Invesco S&P 500 Equal Weight Health Care ETF | 31.5% | +5 bp | +5.9% |
| HTEC | ROBO Global Healthcare Technology and Innovation ETF | 27.9% | +33 bp | -2.1% |
| EKG | First Trust Nasdaq Lux Digital Health Solutions ETF | 22.4% | +30 bp | -3.0% |
| FXH | First Trust Health Care AlphaDEX Fund | 21.9% | +27 bp | +4.7% |
| PSCH | Invesco S&P SmallCap Health Care ETF | 21.8% | -6 bp | +2.3% |
| FMED | Fidelity Disruptive Medicine ETF | 19.9% | +15 bp | -2.3% |
| VHT | Vanguard Health Care ETF | 17.6% | -25 bp | +4.1% |
| IYH | iShares U.S. Healthcare ETF | 17.2% | +5 bp | +5.1% |
Risk and Returns: XHE 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 12/18/2024
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
XHE
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
XHE
2.0%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. XHE's ALTAR Score™ is approximately
1.4 standard deviations
below
the category average. This places XHE in the 8th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
XHESELL
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 |
| XHE (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| XHE | 35.0 | 17.8 | 52.8 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .