Apellis Pharmaceuticals Inc
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Health Care : Biotechnology | Small Cap Growth
Company profile

Apellis Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company that is focused on developing therapeutic compounds to treat disease through the inhibition of the complement system. The Company is developing pegcetacoplan with Sobi for systemic administration in several indications, including paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy, immune complex membranoproliferative glomerulonephritis, amyotrophic lateral sclerosis, cold agglutinin disease, and hematopoietic stem cell transplantation thrombotic microangiopathy. The Company's advanced clinical programs targeting component 3 with Phase III clinical trials of its lead product candidate, pegcetacoplan, in multiple indications. Pegcetacoplan is a conjugate of a compstatin analogue, formulated both for ophthalmological administration by injections directly into the eye, and systemic administration by subcutaneous injection, which is an injection into the tissue under the skin.

Closing Price
$55.02
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
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Volume
(Heavy Day)
Volume:
2,031,635

10-day average volume:
1,115,864
2,031,635

Is SPDR S&P Semiconductor ETF (XSD) a Strong ETF Right Now?

6:20 am ET November 25, 2022 (Zacks) Print

The SPDR S&P Semiconductor ETF (XSD) made its debut on 01/31/2006, and is a smart beta exchange traded fund that provides broad exposure to the Technology ETFs category of the market.

What Are Smart Beta ETFs?

Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.

Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.

However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.

These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.

The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.

Fund Sponsor & Index

The fund is managed by State Street Global Advisors. XSD has been able to amass assets over $1.12 billion, making it one of the larger ETFs in the Technology ETFs. This particular fund, before fees and expenses, seeks to match the performance of the S&P Semiconductor Select Industry Index.

The S&P Semiconductor Select Industry Index represents the Semiconductor sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges. The Semiconductor Index is a modified equal weight index.

Cost & Other Expenses

For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.

Annual operating expenses for this ETF are 0.35%, making it one of the least expensive products in the space.

It has a 12-month trailing dividend yield of 0.35%.

Sector Exposure and Top Holdings

ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

Representing 96.70% of the portfolio, the fund has heaviest allocation to the Information Technology sector.

When you look at individual holdings, Impinj Inc. (PI) accounts for about 4.52% of the fund's total assets, followed by First Solar Inc. (FSLR) and Wolfspeed Inc (WOLF).

XSD's top 10 holdings account for about 33.84% of its total assets under management.

Performance and Risk

The ETF has lost about -25.97% and is down about -24.10% so far this year and in the past one year (as of 11/25/2022), respectively. XSD has traded between $143.14 and $248.86 during this last 52-week period.

The fund has a beta of 1.33 and standard deviation of 41.55% for the trailing three-year period, which makes XSD a high risk choice in this particular space. With about 41 holdings, it has more concentrated exposure than peers.

Alternatives

SPDR S&P Semiconductor ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.

IShares Semiconductor ETF (SOXX) tracks PHLX SOX Semiconductor Sector Index and the VanEck Semiconductor ETF (SMH) tracks MVIS US Listed Semiconductor 25 Index. IShares Semiconductor ETF has $6.53 billion in assets, VanEck Semiconductor ETF has $7.33 billion. SOXX has an expense ratio of 0.40% and SMH charges 0.35%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.

Bottom Line

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report


 
SPDR S&P Semiconductor ETF (XSD): ETF Research Reports
 
First Solar, Inc. (FSLR): Free Stock Analysis Report
 
Wolfspeed (WOLF): Free Stock Analysis Report
 
VanEck Semiconductor ETF (SMH): ETF Research Reports
 
Impinj, Inc. (PI): Free Stock Analysis Report
 
iShares Semiconductor ETF (SOXX): ETF Research Reports

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Zacks Investment Research

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