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Personal health is arguably our greatest asset. Good health provides us hope, opens doors to pursue our passions, and allows us to enjoy life to the fullest. Around the world, healthcare has largely been adopted as a human right, with governments, individuals, and corporations investing ever increasing amounts into providing healthcare.
For investors, Healthcare is a highly attractive sector deserving of a core long-term position in many portfolios. The sector benefits from many attractive attributes, including strong growth, inelastic demand, and low sensitivity to the economic cycle. Combined, these factors have allowed the sector to post earnings growth and returns ahead of the broader equity markets over the long-term - a trend we expect will continue in the years ahead.
Building a healthy portfolio
The strong growth in the Healthcare sector has and continues to be mainly driven by two secular drivers. This includes a growing and aging global population (demographics), as well as a continuous stream of innovations:
Demographic tailwinds will persist for many decades to come – As an increasing share of world’s population ages, the demand for healthcare services will inevitably grow and, by extension, companies in the Healthcare sector will likely benefit from the greater demand. With demographics over the next few decades essentially all but written in stone, these tailwinds to the sector can be confidently viewed as durable and sustainable.
Innovation has been a huge driver of sector outperformance – Innovation continues to expand what is possible in the field of healthcare, allowing us with time to treat, and provide better outcomes, for an increasing array of conditions over time. Moreover, given the high unmet need across a range of diseases, there remains plenty of runway for companies to continue to innovate in the decades ahead. Looking forward, one promising indicator that suggests innovation will continue to remain strong has been ever growing spending on research and development (R&D) by the Healthcare sector. By simply looking at the companies that make up the S&P 500 Healthcare Index, you can see this relentless growth.
When we put it all together – secular tailwinds from demographics & innovation and sticky demand for healthcare that is resilient to the ups and downs of the economy - healthcare has been one of a few sectors which has exhibited above average earnings growth, but with less earnings volatility than the broader equity market.
Now, if there was only an investment solution to help take advantage of these trends…
An ETF with broad Healthcare exposure
At TD Asset Management Inc. we are committed to providing one of the broadest offerings of investment solutions in Canada and the essential building blocks needed to help you construct a well-thought-out portfolio. The TD Global Healthcare Leaders Index ETF (TDOC) provides investors with broad based global exposure to Healthcare, in order to capitalize on the secular trends driving growth in the sector - without the risk of investing in a narrow niche or industry group. TDOC provides exposure to nearly 130 mid, large and mega-cap names, capturing both mature industry leaders and healthcare innovators. This includes Pharmaceuticals, Biotechnology, Life Science Tools, Healthcare Equipment, Healthcare Services, and Health Technology.
What separates TDOC from the rest?
并非所有ETF都是相同的。 One unique aspect of TDOC is that it caps the weight of individual securities at 2% and excess weight is redistributed to other index components on a pro-rata basis at each rebalancing interval. This tilts exposure away from slower growing mega-cap pharmaceutical companies, with the weight redistributed to faster growing biotechnology, health equipment, life science tools, and healthcare technology.
TDOC is designed to help meet the evolving needs of investors and includes strategies that we believe are truly distinctive in the marketplace. Our offering provides greater choice and opportunity for investors in the fast-growing Canadian ETF market.
For more information about TDOC and to view our entire ETF line-up, visit us at td.com/etfs and download the TD ETFs Quick Product Guide.
本文所含信息由道明资产管理有限公司提供，仅供参考。信息出自我们认为可靠的来源。本信息并未提供财务、法律、税务或投资建议。具体的投资、税款或交易策略应根据每位投资者的目标和风险承受能力加以评估。
进行交易所买卖基金投资可能需要负担相关佣金、管理费以及支出。投资前请参阅招股章程和ETF情况概要。 ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.交易所买卖基金单位在证券交易所按市场价格进行买卖，因此收益会因经纪人佣金的支付而减少。
The TD Global Healthcare Leaders Index ETF ("TD ETF") is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Solactive Global Healthcare Leaders Index (CA NTR) ("Index") and/or any trade mark(s) associated with the Index or the price of the Index at any time or in any other respect.指数由Solactive AG计算和发布。Solactive AG会尽一切努力确保指数计算正确。无论对道明资产管理有限公司的义务如何，Solactive AG均没有义务向第三方指出指数的错误，包括但不限于投资者和/或TD ETF的金融中介。发布Solactive AG指数或出于与TD ETF结合使用的目的提供指数或任何指数相关商标的许可均不构成Solactive AG鼓励向所属TD ETF投资的建议，也不代表Solactive AG对向此TD ETF进行任何投资的保证或意见。
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道明交易所买卖基金由道明银行（Toronto-Dominion Bank）全资子公司道明资产管理有限公司（TD Asset Management Inc.）管理。
道明资产管理有限公司 (TD Asset Management Inc.) 是道明银行 (The Toronto-Dominion Bank) 的全资拥有附属机构。
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