Moreover, millionaires with less than $5 million in assets are more bullish on health care names, with 15% of those surveyed pointing to this sector as their top pick.
For health care sector exposure, ETF investors can take a look at sector plays like the Health Care Select Sector SPDR (NYSEArca: XLV), which has a 0.16% expense ratio; iShares U.S. Healthcare ETF (NYSEArca: IYH), which has a 0.46% expense ratio; and Vanguard Health Care ETF (NYSEArca: VHT), which has a 0.14% expense ratio. [Identifying Key Differences Among Sector ETFs]
While millionaires are more bullish on stocks, the group remain cautious on the overall economy. Of the survey respondents, 43% expect the economy to end flat this year, 42% believe it will expand and 12% anticipate a contraction.
For more information on market sectors, visit our sector ETFs category.
Max Chen contributed to this article.