Core Viewpoint - The Invesco Pharmaceuticals ETF (PJP) is a smart beta ETF designed to provide broad exposure to the healthcare sector, specifically focusing on U.S. pharmaceutical companies [1][5][6]. Fund Overview - PJP was launched on June 23, 2005, and has accumulated over $239.95 million in assets, categorizing it as an average-sized ETF within the healthcare sector [1][5]. - The fund aims to match the performance of the Dynamic Pharmaceutical Intellidex Index, which evaluates companies based on various investment merit criteria [5][6]. Cost and Expenses - PJP has an annual operating expense ratio of 0.56%, which is competitive with most peer products in the healthcare ETF space [7]. - The fund offers a 12-month trailing dividend yield of 1.16% [7]. Sector Exposure and Holdings - The ETF is fully allocated to the healthcare sector, with approximately 100% of its portfolio dedicated to this area [8]. - Eli Lilly & Co (LLY) constitutes about 5.41% of the fund's total assets, followed by Amgen Inc (AMGN) and Pfizer Inc (PFE). The top 10 holdings represent approximately 46.64% of total assets [9]. Performance Metrics - As of July 10, 2025, PJP has gained roughly 0.8% year-to-date and approximately 2.82% over the past year [11]. - The fund has traded between $74.59 and $89.61 in the last 52 weeks, with a beta of 0.47 and a standard deviation of 15.71% over the trailing three-year period, indicating a higher risk profile compared to peers [11]. Alternatives - Other ETFs in the pharmaceutical space include iShares U.S. Pharmaceuticals ETF (IHE) and VanEck Pharmaceutical ETF (PPH), which have lower expense ratios of 0.39% and 0.36%, respectively [13]. - Investors seeking lower-risk options may consider traditional market cap weighted ETFs that aim to match healthcare sector returns [13].