The VanEck Pharmaceutical ETF ( PPH ) has lived up to its relatively defensive positioning with lower volatility than the broader markets, but has not been lagging total returns by a lot either. For investors who value earnings visibility and balance-sheet strength, over bothI am a stock analyst with over 20 years of experience in quantitative research, financial modeling, and risk management. My focus is on equity valuation, market trends, and portfolio optimization to uncover high-growth investment opport ...