While major market indexes are plunging, the BioTech HOLDRS (NYSE: BBH) fund is thriving, according to “Biotech Outperformed During Market Free Fall” by Investor’s Business Daily reporter, Trang Ho.
BBH has risen above its 50-day and 200-day moving averages while the Nasdaq, Dow, and S&P 500 are all trading below those averages.
BBH has outperformed all other biotech and health care ETFs this year. The fund has a 10% year to date return while the S&P has returned -14%. BBH is 4% below its 52-week high while the S&P has declined 19% from its high in October.
Biotech HOLDR’s closest competitor, SPDRS S&P Biotech (Amex: XBI), gained 2% year to date and 16% in the past year. XBI is only 2% below its high.
You can view Trang Ho’s full article here.