While biotech stocks are often too risky for many investors, with the coronavirus raging and the race for a vaccine in play, taking a look at some ETFs that contain biotech stocks that are making strides might not be such a bad idea.

With the COVID-19 pandemic raging, biotechs that are consistently profitable and that offer drugs that patients absolutely must have could be seen as relatively safe compared to many other stocks on the market. For investors looking to stay in the market and diversify portfolios, here are two biotech ETFs that could be worth diversifying into during the coronavirus crisis.

iShares Nasdaq Biotechnology ETF (IBB)

With biotech companies like Gilead Sciences, which has been in the news a lot recently for the antiviral drug remdesivir, which appears to be the most promising treatment for COVID-19, IBB is a place for biotech investors to consider. Gilead is conducting late-stage studies of the drug and could report initial results as early as April. Gilead also has a dividend yield currently stands at nearly 4%. The company has even augmented its dividend by 58% over the last five years.

IBB seeks to track the investment results of the NASDAQ Biotechnology Index, which contains securities of companies listed on NASDAQ that are classified according to the Industry Classification Benchmark as either biotechnology or pharmaceuticals and that also meet other eligibility criteria determined by Nasdaq, Inc. The fund generally invests at least 90% of its assets in securities of the index and in depositary receipts representing securities of the index. It may invest the remainder of its assets in certain futures, options and swap contracts, cash and cash equivalents. It is non-diversified.

iShares Genomics Immunology and Healthcare ETF (IDNA)

While the iShares Genomics Immunology and Healthcare ETF has no directly related coronavirus drug-making companies in its holdings, it does contain stocks like Exelixis, which makes drugs that are used to treat kidney, liver, and medullary thyroid cancer, which will continue to be important going forward. The fund seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in genomics, immunology, and bioengineering.

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