Although it may be a begrudging admission for some, it cannot be denied that for a while now, blue chip phama stocks have offered a compelling manifestation of the momentum and quality themes. Many investors know that a company like Johnson & Johnson (NYSE: JNJ) has rewarded investors with decades of dividend increases, a sure sign of quality.

However, momentum also means favorable price action, not just biotech or social media stocks. Consider this: The Dow Jones Industrial Average hit a new all-time high Friday, but just six of its 30 components are up at least 10% this year. Two of those six are Johnson & Johnson and Merck (NYSE: MRK).

Abbott Labs (NYSE: ABT) is not a Dow stock, but it fits the bill as a quality stock and is up almost 7% this year. Same goes for Eli Lilly (NYSE: LLY), which is up a staggering 22.3% this year. Those four stocks combine for almost 18% of PJP’s weight, underscoring the notion that the ETF is benefiting from momentum from stocks often perceived as slow-moving. [Fun With Pharma ETFs]

Unbeknownst to some investors, PJP has over $1.1 billion in assets under management and is the 12th-best PowerShares ETF in terms of 2014 inflows, according to issuer data.

PowerShares Dynamic Pharmaceuticals Portfolio

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