How GMO’s ETF is beating the S&P 500 this year – without Nvidia
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 06 2024
0mins
Source: MarketWatch
- GMO's ETF Performance: GMO's first exchange-traded fund, QLTY, has outperformed the S&P 500 in 2024.
- Stock Performance: The QLTY ETF has gained 10.6% this year, surpassing major U.S. equity indexes like the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average.
- Exclusion of Nvidia Corp: Despite not holding Nvidia Corp stock, the QLTY ETF has shown strong performance.
- Market Comparison: The S&P 500 rose by 8.6%, Nasdaq Composite by 8.9%, and Dow Jones Industrial Average by 3.1% during the same period.
- Impressive Growth: The ETF's growth highlights its success in the market compared to traditional indexes.
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Analyst Views on LLY
Wall Street analysts forecast LLY stock price to rise
20 Analyst Rating
18 Buy
2 Hold
0 Sell
Strong Buy
Current: 1064.740
Low
950.00
Averages
1192
High
1500
Current: 1064.740
Low
950.00
Averages
1192
High
1500
About LLY
Eli Lilly and Company is a medicine company, which discovers, develops, manufactures, and market products in a single business segment called human pharmaceutical products. The Company manufacture and distribute its products through facilities in the United States, including Puerto Rico, and in Europe and Asia. The Company’s products are sold in approximately 90 countries. Its Cardiometabolic Health products Basaglar; Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, and others; Humulin, Humulin 70/30, and others; Jardiance; Mounjaro; Trulicity; Zepbound, and others. Its oncology products include Cyramza, Erbitux, Tyvyt, Verzenio, Retevmo, Jaypirca, and others. Its immunology products include Ebglyss, Olumiant, Omvoh, and Taltz. Its neuroscience products include Emgality and Kisunla. Its LillyDirect, a direct-to-patient digital health care platform, provides delivery of select Lilly medicines dispensed by third-party pharmacies to patients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Surge in Market Demand: With the introduction of new therapies, market demand for the company's products has surged, expected to drive sales growth of over 20% in the next year, thereby enhancing overall profitability.
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See More
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- Double Down Recommendation Strategy: The analyst team has issued 'Double Down' stock recommendations targeting companies poised for an upswing, emphasizing the importance of seizing investment opportunities amid market volatility and encouraging investors to enter at the right time.
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- Market Competition Dynamics: Novo Nordisk's oral Wegovy has taken the lead in the anti-obesity market since its January launch, garnering more prescriptions, while Eli Lilly's Foundayo, launched in April, despite having 80% new users, is trailing in prescription volumes.
- Efficacy Comparison: In clinical trials, oral Wegovy's mean weight loss of 13.6% over 64 weeks significantly outperforms Foundayo's 11.1%, providing Novo Nordisk with a stronger competitive edge, although the latter has some advantages regarding administration restrictions.
- Market Expansion Opportunities: Novo Nordisk's recent EU approval will significantly expand the addressable market for oral Wegovy, further solidifying its position in the anti-obesity drug sector and potentially increasing pressure on Eli Lilly.
- Financial Performance Comparison: Despite trailing in the oral anti-obesity market, Eli Lilly remains strong in chronic weight management, with a 56% year-over-year revenue increase to $19.8 billion in Q1, showcasing the resilience of its diversified drug portfolio.
See More
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- Industry Leadership: Eli Lilly and Novo Nordisk currently dominate the anti-obesity drug market, with Lilly showing a stronger growth trajectory as its manufacturing capacity expands and Zepbound gains market share, which is expected to further solidify its market position.
- Future Earnings Expectations: Analysts project that Lilly's annual earnings per share will reach between $37 and $52 over the next four years, significantly up from $23 in 2025, reflecting its revenue growth in obesity treatments that is expected to outpace most large pharmaceutical peers.
- Investment Risks and Opportunities: While Lilly's valuation is higher than most large-cap pharmaceutical companies, its future growth potential is already priced in, and investors should be cautious of significant volatility if sales growth slows or competition intensifies.
See More
