O’Leary explained that in a recent visit to Philadelphia, a Democratic stronghold, many people he talked to were closet Trump supporters, which suggests that major election polls may not reflect how tight the presidential race really is.

“Maybe these polls aren’t right. Maybe we got it wrong. I don’t know. But I decided to put on a health care trade,” O’Leary told CNBC. “I’m going to go and venture into four areas that I think are going to spring back, just in case Trump wins.”

O’Leary pointed to four contrary health care-related ETFs trades that he thinks are good bets going into election day: The iShares U.S. Medical Devices ETF (NYSEArca: IHI), the largest dedicated medical devices ETF. The PowerShares Dynamic Pharmaceuticals Portfolio (NYSEArca: PJP), which targets pharma companies based on price momentum, earnings momentum, quality, management action, and value. The iShares Nasdaq Biotechnology ETF (NasdaqGS: IBB), which tracks the widely observed Nasdaq Biotechnology Index. Lastly, the VanEck Vectors Generic Drugs ETF (NasdaqGM: GNRX), the only generics-focused ETF.

If Trump wins, O’Leary believes these health care ETFs could pop overnight. Even if Clinton wins, the health care ETFs will remain a long-term trade, despite short-term volatility.

For more information on the health care sector, visit our health care category.

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