Biotechnology exchange traded funds still dominate the list of this year's top-performing non-leveraged sector ETFs. In fact, each of the top six sector ETFs in terms of year-to-date gains are biotech funds, but the group's leadership has waned to end July.
Thursday is another day in which investors can spot bearish biotech ETFs, such as the Direxion Daily S&P Biotech Bear 3X Shares (NYSE: LABD), among the day's top percentage gainers while the biggest biotech funds flail into month end. Since July 20, the iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) and the First Trust NYSE Arca Biotechnology Index Fund (NYSE: FBT), the two largest biotech ETFs by assets, have posted an average loss of close to 5 percent.
The equal-weight SPDR S&P Biotech ETF (NYSE: XBI), the third-largest biotech ETF, is off nearly 7 percent over that period. The recent bout ...
/www.benzinga.com/general/biotech/15/07/5720947/even-with-recent-declines-investors-still-love-biotech-etfs alt=Even With Recent Declines, Investors Still Love Biotech ETFs>Full story available on Benzinga.com
More...