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.
Beyond content generation and execution, firms that can offer answers around governance, transparency, and supervision are set to pull ahead in the next leg of the AI race.
The experienced advisory teams join Ameriprise and Janney as the race for experienced talent continues.
Rising drug and outpatient costs are pushing plan members to demand more financial guidance and most insurers are falling short.
Additional investment and partnership will see joint development of wealth management, brokerage and digital asset platforms.
FINRA's proposed rule filing would create a new 10-day fraud delay and nearly triple the maximum hold period for exploited senior investors.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
