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% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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