Since the coronavirus outbreak, health care technology has come to the fore with various innovations to combat the virus. This can only help fuel health care technology exchange-traded funds (ETFs) moving forward from preventative medicine to treatment.

One of those companies leading the way for innovation is New York health care system Northwell Health. Per a CNN report, Northwell Health is “expanding a program to outfit coronavirus patients’ rooms with Amazon Echo Shows, two-way video calling devices that allow providers to check in with patients on video, rather than in person. The tool helps reduce providers’ exposure to the virus. It could also cut down on the use of vital personal protective equipment at a time when the nation’s stockpile of protective equipment has been largely depleted. Northwell is the largest health care provider in New York state, which has been the epicenter of the US outbreak of coronavirus. The virus has now infected more than 742,000 Americans, and health care workers are especially at risk.”

“We can communicate with them, we can answer questions, we can decrease foot traffic in the room and minimize the exposure to staff, and reduce the use of (personal protective equipment) over time,” Caligiuri said.

Investors who want to take advantage of the innovations in health care and look to funds like the Principal Healthcare Innovators Index ETF (BTEC). BTEC seeks to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq Healthcare Innovators Index.

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that compose the index at the time of purchase. The index uses a quantitative model designed to identify equity securities in the Nasdaq US Benchmark Index (including growth and value stock) that are small and medium capitalization U.S. healthcare companies.

Another fund to consider is the Robo Global Healthcare Technology and Innovation ETF (HTEC). HTEC seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ROBO Global Healthcare Technology and Innovation Index.

The fund will normally invest at least 80 percent of its total assets in securities of the index or in depositary receipts representing securities of the index. The index is designed to measure the performance of companies that have a portion of their business and revenue derived from the field of healthcare technology, and the potential to grow within this space through innovation and market adoption of such companies, products, and services.

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