Overview
Equal-weighted US biotechnology — around 140 companies where the clinical-stage names count as much as the giants, amplifying the sector's boom-bust cycle.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| INSM | Insmed Inc. | 1.6% |
| ALNY | Alnylam Pharmaceuticals | 1.3% |
| VRTX | Vertex Pharmaceuticals | 1.2% |
| SRPT | Sarepta Therapeutics | 1.1% |
| UTHR | United Therapeutics | 1.1% |
| EXEL | Exelixis Inc. | 1.0% |
| GILD | Gilead Sciences | 1.0% |
| REGN | Regeneron Pharma | 1.0% |
| AMGN | Amgen Inc. | 0.9% |
| MRNA | Moderna Inc. | 0.9% |
Fund Details
Investment Thesis
Biotech spent three brutal years as the market's most-hated sector, then delivered a +82% rebound as rate cuts revalued long-duration science and M&A returned with a vengeance. XBI's equal weighting is the point: it owns the acquisition targets, not just the acquirers, so every big-pharma takeout at a premium lands hard in the fund. The same design doubles the pain in risk-off years — this is the highest-beta sector fund most investors will ever hold.
Who It's For
Risk-tolerant investors playing the biotech cycle and the M&A wave through a diversified basket instead of single-trial lottery tickets. Size it like the volatility it carries.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $56.00 | -- |
| 2017 | $80.08 | +43.0% |
| 2018 | $68.06 | -15.0% |
| 2019 | $89.85 | +32.0% |
| 2020 | $132.97 | +48.0% |
| 2021 | $106.38 | -20.0% |
| 2022 | $78.72 | -26.0% |
| 2023 | $85.02 | +8.0% |
| 2024 | $84.17 | -1.0% |
| 2025 | $101.00 | +20.0% |
| Year | Yield |
|---|---|
| 2016 | 0.00% |
| 2017 | 0.00% |
| 2018 | 0.00% |
| 2019 | 0.00% |
| 2020 | 0.00% |
| 2021 | 0.00% |
| 2022 | 0.00% |
| 2023 | 0.20% |
| 2024 | 0.10% |
| 2025 | 0.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $2.5B | -- |
| 2017 | $4B | +60.0% |
| 2018 | $4.5B | +12.5% |
| 2019 | $5B | +11.1% |
| 2020 | $7.5B | +50.0% |
| 2021 | $6.5B | -13.3% |
| 2022 | $7B | +7.7% |
| 2023 | $6.5B | -7.1% |
| 2024 | $7B | +7.7% |
| 2025 | $9B | +28.6% |
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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