HealthShares, a division of XShares, launched 19 exchange traded funds (ETFs) focusing on the assets of health care, with $100 million in assets. HealthShares Diagnostics (HHD) has around 1/3 of the assets and includes companies that focus on the identification of the existence and the extent of the disease, the visual location, selection of therapeutic agents and monitoring the disease progression, reports ETFExpert Gary Gordon.
The performance of HDD during the summer turbulence was impressive, as it posted an actual gain, compared to losses suffered by the S&P 500 and Russell 2000. And during the recent market struggles, it has drawn down less than either index. HHD is up 26.5% since its April inception. While HHD provides no market immunity to any portfolio, it can offer diversification.
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