Snowflake (NYSE:SNOW). Covering healthcare, plant-based products, and technology, together they can help diversify your portfolio. Here s why they are all are great buys, despite their recent struggles.
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Shares of Seagen are down more than 20% year to date, while the
S&P 500 has risen by 12%. At the start of 2021 investors were paying a price-to-earnings (P/E) multiple of more than 50 for the healthcare company, while today that ratio has fallen to less than 40. Rising concerns surrounding high valuations have likely played a role in Seagen s decline in recent months; the average stock in the
Health Care Select Sector SPDR Fund only trades at 27 times its earnings.
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Fundamental Context
The CFRA Focus ETF for May is Health Care Select Sector SPDR (XLV). In rating equity ETFs, CFRA combines fund-level attributes, including performance and costs, with holdings-level risk and reward analysis to provide a second opinion on what is inside the fund. XLV is appealing to CFRA as we look forward. Sam Stovall, CFRA’s Chief Investment Strategist, noted that the S&P 500 Index has typically struggled during the seasonally weak May-October period of the year, rising only 2.2% on average since 1990. However, the S&P 500 Health Care sector was the best performing sector gaining 4.8%.
The S&P 500 Health Care sector, which XLV seeks to replicate is diversified across key health care industries. Health Care Equipment & Supplies (29% of assets), Pharmaceuticals (27%), Health Care Providers & Services (20%) are the largest, but the ETF has meaningful exposure to Biotechnology (14%) and Life Sciences Tools & Services (9%) as well. The ETF is market-cap weighted wi
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