The Health Care Sector Gets Boost from Midterms
The S&P 500 Index got a boost today from the healthcare sector. The results from the mid-term election -- with the House of Representatives being taken back by the Democrats -- almost certainly removes all risk of an Obamacare repeal and lowers the risk of any major legislative changes. The S&P Managed Care Index arguably rose to record highs as a result. Also, some states - Idaho, Utah, and Nebraska - voted to expand Medicaid, giving a boost to health-related stocks as well.
UnitedHealth, the largest U.S. health insurer, is gaining on the day as is Anthem.
Notable companies
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Apple (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA), Alphabet (NASDAQ:GOOGL), Alphabet (NASDAQ:GOOG), Amazon.com (NASDAQ:AMZN), Meta Platforms (NASDAQ:META), Eli Lilly & Co (NYSE:LLY), Broadcom (NASDAQ:AVGO).
Industry description
The investment seeks to replicate, before fees and expenses, the total return of the S&P 500® Index.
The fund will invest, under normal circumstances, at least 80% of its net assets and borrowings for investment purposes in securities of issuers included in the index. The index is designed to measure the performance of 500 U.S. companies chosen for market size, liquidity and industry grouping, among other factors. In some instances, one or more of the 500 companies may have more than one share class included in the index.
Market Cap
The average market capitalization across the ONEFUND S&P 500® MF is 1.79T. The market cap for tickers in the group ranges from 599.86B to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is AVGO at 599.86B.
Volume
The average weekly volume growth across all stocks in the ONEFUND S&P 500® MF was 89%. For the same stocks of the MF, the average monthly volume growth was 72% and the average quarterly volume growth was 0%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 74
P/E Growth Rating: 50
Price Growth Rating: 38
SMR Rating: 30
Profit Risk Rating: 14
Seasonality Score: -27 (-100 ... +100)