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Healthcare Humbled, But Not Knocked Out

Benzinga.com
0 Comments| October 10, 2015

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The Health Care SPDR (ETF) (NYSE: XLV), the largest healthcare exchange-traded fund by assets, is off 9.3 percent over the past three months, a decline hastened in large part by the recent retrenchment in biotech stocks.

In a credit to XLV's strength through the first half of the year, the ETF is basically flat year-to-date. That does not sound like much, but consider this: XLV is the second-best of the nine sector SPDRs on a year-to-date basis. Only the Consumer Discretionary SPDR (ETF) (NYSE: XLY) is up on the year.

While XLV's 24.7 percent weight to biotech stocks – the ETF's second-largest industry weight behind pharmaceuticals – has been burdensome in recent weeks, the bull case for healthcare has not been eroded to the degree that naysayers are proclaiming. Perhaps no worse than a neutral view of XLV is ...

/www.benzinga.com/general/biotech/15/10/5902509/healthcare-humbled-but-not-knocked-out alt=Healthcare Humbled, But Not Knocked Out>Full story available on Benzinga.com

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