Overview
Small-cap biotech with trials underway — 107 companies screened to have Phase II or III drugs and the cash to finish them, the discipline that separates SBIO from the lottery-ticket funds.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| CGON | CG Oncology | 3.7% |
| MANE | Veradermics | 3.6% |
| ORKA | Oruka Therapeutics | 3.5% |
| TVTX | Travere Therapeutics | 3.3% |
| DFTX | Definium Therapeutics | 3.2% |
| DNTH | Dianthus Therapeutics | 2.9% |
| EWTX | Edgewise Therapeutics | 2.9% |
| RLAY | Relay Therapeutics | 2.7% |
| AMLX | Amylyx Pharmaceuticals | 2.4% |
| ACAD | Acadia Pharmaceuticals | 2.4% |
Fund Details
Investment Thesis
The screen is the strategy: requiring mid-to-late-stage pipelines and funded runways filters out biotech's cash-burning long shots, leaving the acquisition targets big pharma actually buys. +26% as the M&A cycle reignited — patent cliffs force the majors to shop, and SBIO's book is the shopping list. Rate relief amplifies it; nothing re-rates on falling discount rates like pre-revenue science with data due.
Who It's For
Aggressive healthcare investors who want clinical-stage biotech with a quality filter — the takeover-target basket as pharma's patent cliff forces deals.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $22.92 | -- |
| 2017 | $32.79 | +43.1% |
| 2018 | $28.14 | -14.2% |
| 2019 | $42.28 | +50.2% |
| 2020 | $51.23 | +21.2% |
| 2021 | $42.24 | -17.5% |
| 2022 | $30.38 | -28.1% |
| 2023 | $32.94 | +8.4% |
| 2024 | $33.03 | +0.3% |
| 2025 | $51.22 | +55.1% |
| Year | Yield |
|---|---|
| 2016 | 0.00% |
| 2017 | 0.00% |
| 2018 | 0.00% |
| 2019 | 0.00% |
| 2020 | 0.00% |
| 2021 | 0.00% |
| 2022 | 0.00% |
| 2023 | 0.00% |
| 2024 | 0.00% |
| 2025 | 0.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.1B | -- |
| 2017 | $0.1B | +0.0% |
| 2018 | $0.1B | +0.0% |
| 2019 | $0.2B | +100.0% |
| 2020 | $0.2B | +0.0% |
| 2021 | $0.2B | +0.0% |
| 2022 | $0.1B | -50.0% |
| 2023 | $0.1B | +0.0% |
| 2024 | $0.1B | +0.0% |
| 2025 | $0.2B | +100.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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