ETF Managers Group launched an exchange-traded fund tracking companies focused on testing and treatments of infectious diseases.
The ETFMG Treatments, Testing and Advancements ETF, which started trading Thursday under the ticker GERM, gives access to both established biotechnology companies and “unsung heroes,” the firm said in a statement.
The fund tracks an index whose biggest holding is Moderna Inc., a company that’s seen its stock price more than triple this year on news of its progress in developing a vaccine.
As global coronavirus cases exceed 8.3 million, companies, health authorities, drug regulators and research institutes are working around the clock to come up with the world’s first effective vaccine for COVID-19. Concern over a second wave of the pandemic threatens recent efforts to relax restrictions and revive businesses after months of lockdowns.
“Everyone is thinking about treatments and vaccines,” said Sam Masucci, chief executive officer and founder of ETF Managers Group. “It touches them very personally. We tried to develop a product of all the companies at the forefront that will hopefully get us back to a more normalized life.”
The fund has a 0.68% expense ratio.
Earlier this year, Pacer Financial filed for a BioThreat ETF (VIRS), which is focused on companies combating biological threats to human health.
This kind of thematic fund is effectively “a trifecta bet” -- meaning the issuer has to get the theme, stocks and valuations right, according to Ben Johnson, director of global ETF research at Morningstar Inc.
RIA industry veterans Jay Hummel and John Phoenix have launched a firm which offers 60% equity to advisors with plans to grow to over $5 billion in AUM, before selling to an institutional investor within five years.
A high-net-worth advisory group leaves Wintrust to embrace independence.
Independent firm joins expanding national advisory network.
New research reveals shifting strategies in financial guidance.
Westlake Village office strengthened by acquisition.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
