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.
Catch-up contributions, required minimum distributions, and 529 plans are just some of the areas the Biden-ratified legislation touches.
Following a similar move by Robinhood, the online investing platform said it will also offer 24/5 trading initially with a menu of 100 US-listed stocks and ETFs.
The private equity giant will support the advisor tech marketing firm in boosting its AI capabilities and scaling its enterprise relationships.
The privately backed RIA's newest partner firm brings $850 million in assets while giving it a new foothold in the Salt Lake City region.
The latest preliminary data show $117 billion in second-quarter sales, but hints of a slowdown are emerging.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
