IHI(IHI)
AI Look-Through Summary
AI GeneratedThe portfolio exhibits a strong bias towards healthcare, with nearly three-quarters of its assets allocated to this sector. The weighted P/E ratio of 31.2x suggests that the fund is positioned for growth, but at a premium valuation relative to other sectors. The weighted P/B ratio of 6.76x also indicates a relatively high valuation posture.
The top holdings reveal a concentrated exposure to large-cap healthcare companies, with Intuitive Surgical (ISRG) and Abbott Laboratories (ABT) dominating the portfolio. While this concentration may amplify returns in a favorable market environment for healthcare, it also increases risk if these stocks underperform or experience regulatory challenges. The sector mix is significantly more weighted towards healthcare than the broader market, which could be beneficial during periods of strong demand for medical devices and pharmaceuticals but potentially detrimental if biotech and pharma valuations come under pressure.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-06 09:23:44.467647+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 98/100The investment theme implied by the ticker IHI is intrinsically linked to healthcare innovation, specifically medical devices and equipment. The top ten holdings align almost perfectly with this designation, as every single position listed—ranging from Intuitive Surgical to Boston Scientific—is a dominant player within the broader healthcare sector focused on technology-driven solutions rather than pharmaceuticals or services. There are no unrelated mega-cap conglomerates or broad-market stabilizers present in the list; instead, the portfolio relies exclusively on companies whose core business operations directly support the fund's stated thematic focus. This uniformity suggests a high degree of adherence to its specific niche without dilution from disparate industries.
Sector coherence is exceptionally strong, with healthcare comprising 75.4% of the total assets and representing the entirety of the top ten concentration. The sector weights are consistent with the theme because there is no significant drift into adjacent sectors that might blur the fund's identity; for instance, there are minimal exposures to consumer discretionary or industrial stocks outside of those directly tied to medical technology manufacturing. While the high concentration in healthcare creates inherent volatility relative to a diversified broad-market index, it also ensures that the fund remains genuinely differentiated by its specific exposure to medical device trends rather than general economic cycles. The data indicates a tightly constructed portfolio where asset allocation reinforces the singular investment thesis without ambiguity or thematic leakage.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 08:28:07.787906+00
🏢 Sector Analysis
AI GeneratedThe IHI ETF demonstrates an overwhelmingly concentrated exposure to the healthcare sector, which accounts for 75.4% of its total portfolio across just ten holdings. This singular focus suggests a distinct investment thesis centered entirely on medical innovation and biotechnology rather than broad diversification across market capitalizations or industry verticals. The fund's structure implies that managers expect continued outperformance specifically from the healthcare landscape, potentially betting on advancements in surgical robotics, diagnostics, or pharmaceutical development as primary drivers of future returns. By restricting its universe to such a narrow slice of the economy, the vehicle effectively acts as a leveraged play on sector-specific trends rather than a general market proxy.
Significant concentration risk is evident given that the top five holdings alone comprise approximately 48% of the entire fund's assets, with International Surgical Robotics and Automation (ISRG) and Abbott Laboratories (ABT) each representing over 16%. Such weightings indicate high sensitivity to the operational performance and stock price movements of these individual giants; any adverse event affecting one or both could materially impact the overall portfolio value. Furthermore, since all top ten positions fall within healthcare, there is no meaningful diversification buffer from other sectors like technology, finance, or consumer staples. This lack of cross-sector balance means that macroeconomic factors negatively impacting broader market segments will not dilute the fund's volatility profile in this instance.
In terms of factor tilts, the allocation leans heavily toward large-cap growth characteristics typical of established healthcare leaders rather than small-cap value or dividend strategies. The heavy reliance on a limited number of high-conviction names suggests an active management approach aimed at capturing specific alpha within the sector rather than passive beta exposure to the broader health care index. Investors in this vehicle should be aware that returns will likely mirror the performance of these specific ten companies more closely than the wider healthcare industry, amplifying both potential upside and downside volatility associated with idiosyncratic risks inherent to each holding.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-21 03:02:45.671129+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share IHI's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of IHI's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| XHEXHE | $135M | — | 10 | 75.3% |
| SPYState Street SPDR S&P 500 ETF Trust | $640B | 0.09% | 10 | 75.3% |
| QUSQUS | $1B | — | 10 | 75.3% |
| ESGVESGV | $11B | — | 10 | 75.3% |
| ONEOONEO | $25M | — | 10 | 75.3% |
75% of IHI's portfolio by weight is also held by XHE. When XHE receives inflows, it mechanically buys these shared stocks — dragging IHI's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofIHI's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 75% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside IHI collectively pay out 41% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 45% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryIHI is down 15.2% over the last 12 months. The underlying weighted earnings growth of its constituents is -3.7%. Despite earnings growth, valuations have contracted by 11.5% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 75% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of IHI's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of IHI's analyzed weight, 68% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 32% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 59% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
HIGHISRG at 16.0% contributes an estimated 33% of portfolio variance.IHI holds 10 stocks but behaves like an 13-stock portfolio due to weight concentration in the top holdings.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
IHI has a Passive Crowding Score of 44/100. On average, 13.2% of the market capitalization of IHI's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 31 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 10 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | ISRG | Intuitive Surgical Inc Healthcare | 16.01% | 51.8x | 7/9 |
| 2 | ABT | Abbott Laboratories Healthcare | 15.80% | 26.7x | 5/9 |
| 3 | SYK | Stryker Corp Healthcare | 11.16% | 37.8x | 4/9 |
| 4 | EW | Edwards Lifesciences Corp Healthcare | 5.38% | 51.0x | 5/9 |
| 5 | IDXX | IDEXX Laboratories Inc Healthcare | 4.97% | 41.0x | 7/9 |
| 6 | BDX | Becton Dickinson & Co Healthcare | 4.78% | 27.6x | 7/9 |
| 7 | MDT | Medtronic PLC Healthcare | 4.40% | 22.3x | 7/9 |
| 8 | GEHC | GE HealthCare Technologies Inc Common Stock Healthcare | 4.30% | 15.7x | 3/9 |
| 9 | DXCM | DexCom Inc Healthcare | 4.30% | 30.6x | 6/9 |
| 10 | RMD | ResMed Inc Healthcare | 4.20% | 20.2x | 7/9 |
Historical Holdings Snapshots
Browse how IHI’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-07
10 holdings · 75.3% tracked weight2026-07-06
10 holdings · 75.3% tracked weight2026-07-05
10 holdings · 75.3% tracked weight2026-07-04
10 holdings · 75.3% tracked weight2026-07-03
10 holdings · 75.3% tracked weightSource: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove IHI Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedIHI is currently trading at $50.54, a level that requires contextualization against its moving average envelope to assess relative value. Without specific upper and lower bound data for the standard deviation bands surrounding the Simple Moving Average, it remains technically ambiguous whether this price point represents an overextended condition ripe for mean reversion or a healthy consolidation phase within normal volatility parameters. If the current valuation sits significantly below the mid-band of its historical envelope, statistical probability might suggest a pullback toward the average is imminent as buying pressure could emerge to close the gap. Conversely, if the price hovers near or above the upper boundary, it may indicate an extended move that historically precedes a correction back toward the mean. The absence of precise band placement prevents a definitive conclusion on whether the asset is undervalued relative to its recent trend trajectory. Market participants observing this setup must weigh the distance between $50.54 and the calculated moving average line against recent volatility metrics. A price detached from the centerline often signals heightened variance, while proximity suggests stability but also potential lack of immediate directional momentum. Ultimately, the position's attractiveness for a mean-reversion strategy depends entirely on where this specific data point falls within its own statistical distribution over time, which cannot be fully determined by the single price figure alone.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How IHI’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-06.
SecuritiesDB is for informational purposes only. Not investment advice.