IYH(IYH)
AI Look-Through Summary
AI GeneratedThe portfolio is heavily concentrated in the healthcare sector, which accounts for nearly 60% of its allocation. This suggests that the fund's performance will be closely tied to the fortunes of pharmaceutical and biotechnology companies. The presence of large-cap stalwarts like LLY and JNJ underscores the fund's focus on established industry leaders with strong brand recognition and financial resources.
The sector mix is somewhat skewed compared to the broader market, which may present opportunities or risks depending on the macro environment. A high valuation posture, reflected in a weighted P/E of 36.2x and P/B of 13.68x, could make the fund more sensitive to interest rate changes and economic downturns. However, the presence of diversified healthcare companies with strong growth prospects may also position the fund to benefit from an aging population and advances in medical technology.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 09:25:21.850574+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment profile of IYH demonstrates a near-total alignment with its healthcare theme, as the top ten holdings are exclusively comprised of major pharmaceutical and biotechnology companies. Every significant position listed, ranging from LLY to ABT, operates squarely within the medical sector, leaving no apparent dilution from unrelated industries that might obscure the fund's stated objective. The concentration of assets in this single industry is substantial, with healthcare comprising 57.4% of the portfolio and the top ten holdings accounting for an identical percentage, indicating a highly focused strategy rather than a broad market approach. This uniformity suggests the fund successfully adheres to its thematic mandate without relying on unrelated sectors to balance returns or stabilize performance through diversification outside its core focus area.
Sector coherence is evident in the consistent weighting of healthcare across the portfolio, which distinguishes the vehicle from standard broad-market indices that typically allocate significant capital to technology, consumer discretionary, and financial services. The heavy reliance on mega-cap stocks within the healthcare sector creates a specific risk profile where performance is tightly coupled with large pharmaceutical giants rather than emerging biotech firms or niche medical device companies often associated with thematic plays. While this concentration ensures deep exposure to established industry leaders, it also means the fund's returns will mirror the broader health care market trends closely, potentially lacking the idiosyncratic upside of smaller, high-growth names that sometimes define pure-play sector themes. The data reflects a stable, large-cap healthcare strategy rather than an aggressive or diversified thematic approach.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-19 14:43:19.139426+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of IYH presents a highly concentrated exposure to the healthcare industry, which accounts for 57.4% of the portfolio across only ten holdings. This singular focus indicates an investment thesis that prioritizes deep specialization in pharmaceuticals and biotechnology over broad diversification, effectively functioning as a leveraged play on the health sector rather than a general equity vehicle. The top five positions alone constitute nearly half of this healthcare allocation, with Eli Lilly, Johnson & Johnson, AbbVie, UnitedHealth Group, and Merck forming the core engine of returns or losses. Such a structure suggests that the fund's performance will be disproportionately driven by the fortunes of these specific mega-cap leaders, leaving little room for other industries to offset volatility within this single sector.
Concentration risk is further amplified by the fact that the top ten holdings mirror the entire healthcare allocation percentage exactly at 57.4%, implying a near-total absence of non-healthcare assets or significant secondary sectors. This extreme weighting creates a scenario where macroeconomic factors specific to medical research, regulatory environments in pharma, and demographic shifts in aging populations will dominate the fund's risk profile. Investors are effectively betting that these ten companies will outperform their peers significantly enough to justify such a narrow bet on one industry. The lack of diversification means that sector-specific downturns or regulatory headwinds affecting just this group could materially impact the entire portfolio, contrasting sharply with more broadly diversified equity strategies designed to mitigate single-sector shocks through asset class variety.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-20 03:00:27.562724+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share IYH's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of IYH's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| QUSQUS | $1B | — | 10 | 59.5% |
| ITOTiShares Core S&P Total U.S. Stock Market ETF | $80B | — | 10 | 59.5% |
| ACWIiShares MSCI ACWI ETF | $28B | — | 10 | 59.5% |
| ONEOONEO | $25M | — | 10 | 59.5% |
| SCHXSCHX | $61B | — | 10 | 59.5% |
60% of IYH's portfolio by weight is also held by QUS. When QUS receives inflows, it mechanically buys these shared stocks — dragging IYH's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofIYH'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 59% 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 IYH collectively pay out 66% of their Free Cash Flow to maintain the current yield. This is a sustainable payout level with moderate room for dividend growth. Based on 57% 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
ProprietaryIYH is up 23.8% over the last 12 months. The underlying weighted earnings growth of its constituents is +45.8%. Despite earnings growth, valuations have contracted by 22.1% — 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 57% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of IYH's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of IYH's analyzed weight, 84% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 16% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 57% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
HIGHLLY at 16.1% contributes an estimated 49% of portfolio variance.IYH holds 10 stocks but behaves like an 19-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.
IYH has a Passive Crowding Score of 40/100. On average, 12.1% of the market capitalization of IYH'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 36 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 | LLY | Eli Lilly and Co Healthcare | 16.07% | 41.5x | 7/9 |
| 2 | JNJ | Johnson & Johnson Healthcare | 10.27% | 29.0x | 4/9 |
| 3 | ABBV | AbbVie Inc Healthcare | 7.48% | 124.8x | 7/9 |
| 4 | UNH | UnitedHealth Group Inc Healthcare | 6.30% | 31.8x | 6/9 |
| 5 | MRK | Merck & Co Inc Healthcare | 5.34% | 36.0x | 4/9 |
| 6 | AMGN | Amgen Inc Healthcare | 3.28% | 25.8x | 7/9 |
| 7 | TMO | Thermo Fisher Scientific Inc Healthcare | 3.13% | 29.8x | 4/9 |
| 8 | ABT | Abbott Laboratories Healthcare | 2.64% | 27.7x | 5/9 |
| 9 | GILD | Gilead Sciences Inc Healthcare | 2.63% | 18.5x | 8/9 |
| 10 | ISRG | Intuitive Surgical Inc Healthcare | 2.35% | 46.1x | 7/9 |
Historical Holdings Snapshots
Browse how IYH’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-19
10 holdings · 59.5% tracked weight2026-07-18
10 holdings · 59.5% tracked weight2026-07-17
10 holdings · 59.5% tracked weight2026-07-16
10 holdings · 59.5% tracked weight2026-07-15
10 holdings · 59.5% 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 IYH Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedIYH is currently trading at $62.98, a level that requires contextualization against its moving average envelope to assess relative value. Without specific data points for the short-term or long-term Simple Moving Averages and their respective upper and lower bands, it is impossible to definitively characterize whether this price represents an extreme deviation suggesting imminent mean reversion or a stable equilibrium within normal volatility ranges. If the current trading level were significantly distant from the central moving average line while simultaneously touching or breaching one of the envelope boundaries, such positioning often signals heightened statistical probability for a pullback toward the mean. Conversely, if $62.98 resides comfortably near the center of the channel with ample space remaining on both sides, the asset may simply be operating within its established historical trend without immediate pressure to reverse direction based solely on position relative to the envelope. The absence of defined band parameters prevents a conclusive determination regarding the magnitude of potential correction or continuation. Market participants must evaluate whether $62.98 constitutes an overextended state where statistical forces might pull the price back, or if it represents a sustainable valuation within the asset's recent range. Ultimately, the technical implication depends entirely on how far this specific price point lies from the dynamic averages that define the envelope's structure at this moment. Observers should monitor subsequent price action to see if the current level acts as a magnetic zone for mean reversion or merely serves as another step in an ongoing trend before any definitive conclusion about relative value
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 IYH’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: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.