Related: Interesting Biotech ETFs on the Way

“BBP, which debuted in late 2014, carves out a specific niche within the biotech space by focusing only on biotech stocks with a primary product already on the market or one that has already garnered approval from the Food & Drug Administration,” according to InvestorPlace.

Biotechnology ETFs should also prove immune to hawkish changes in Fed policy. A recent study by Deutsche Bank indicates major biotech indexes have negative correlations to changes in 20-year U.S. government bonds. Looking ahead, in the years through 2024, spending growth is projected to average 5.8% and peak at 6.3% in 2020.

The improved outlook for the health care industry comes as many expect continued growth in the sector, despite an ongoing so-called earnings recession in the S&P 500. While FactSet anticipates the broad S&P 500 to show an earnings decline of -9.1% for Q1 2016, the health care sector is expected to report revenue growth of 8.9%.

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BioShares Biotechnology Products Fund