The Affordable Care Act has helped millions of Americans receive healthcare coverage, with the uninsured rate now at a seven-year low, bolstering the outlook for healthcare services and sector-related exchange traded funds.

“According to our simple price momentum model, the sector appears to be very oversold on a rolling 6 month basis, sitting close to -2 standard deviation at the end of February. If history is of any guide, we believe the sector is poised for a short-term rebound from current levels,” according to a Seeking Alpha analysis of VHT.

VHT is heavily allocated to blue-chip pharmaceuticals names, such as Dow components Johnson & Johnson (NYSE: JNJ), Merck (NYSE: MRK) and Pfizer (NYSE: PFE), but the ETF also devotes more than 20% of its weight to biotechnology stocks.

Vanguard Health Care ETF