The SPDR S&P Biotech ETF (NYSEArca: XBI), which also hit new highs Wednesday, is up 42% this year. Only one non-leveraged ETF has outpaced the equal-weight XBI this year. [Biotech ETFs: Bring on Rising Rates]

“In the first quarter, the health care sector led all other S&P 500 sectors in earnings and revenue growth. Investors can access this growth either at the broad sector level or at the industry level. Drilling down to the industry level, health care services firms are forecast to have 14% earnings per share growth over the next 3-5 years, compared with 11% for the rest of the market,” said Mazza. “In addition, biotech and pharmaceutical companies are attracting investor attention as the two industries could benefit from favorable demographic trends.”

Investors have added $822.3 million to XBI this year.

SPDR Pharmaceuticals ETF