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The health care sector has taken its lumps this year. For much of 2019, the second-largest sector weight in the S&P 500 has been a laggard and, as just one example of that trend, Pfizer (NYSE:PFE) has been one of the worst-performing members of the Dow Jones Industrial Average this year.
All that said, the sector is now showing signs of life. Just this month, the Health Care Select Sector SPDR (NYSE:XLV), the largest health care exchange traded fund by assets, is higher by almost 7%.
Speaking of XLV, the benchmark health care ETF hit an all-time high last Friday. Just 17 ETFs accomplished that feat and XLV was one of eight health care ETFs in that illustrious club.
Let's have a look at some of the other health care ETFs that have recently ascended to fresh highs.
The Global X Longevity Thematic ETF (NASDAQ:LNGR) tracks the Indxx Global Longevity Thematic Index and is often overlooked in the health care ETF conversation. It probably shouldn't be as highlighted by a year-to-date gain of 22.54%. After all, LNGR is one of the few health care funds explicitly dedicated to the aging population theme.
The fund “seeks to invest in companies positioned to serve the world’s growing senior population through exposure to health care, pharmaceuticals, senior living facilities and other sectors that contribute to increasing lifespans and extending quality of life in advanced age,” according to Global X.
Additionally, LNGR gives investors a more futuristic avenue to healthcare investing than traditional funds in this category.
“The Health Care sector is a perfect narrator for data, even more so when hooked up to the Internet of Things (IoT),” Global X said in a recent note. “Internet-connected devices used by pharmaceutical, medtech, and health service providers offer myriad opportunities to collect, analyze, and utilize patient data. Application of that data can improve preventative medical care as well as treatments for symptoms and disease.”
Alright, so the iShares Genomics Immunology and Healthcare ETF (NYSE:IDNA) debuted in July, taking some of the luster off its recent all-time high accomplishment, but its launch date doesn't diminish the long-term potential of this fund.
IDNA follows the NYSE FactSet Global Genomics and Immuno Biopharma Index and holds 44 stocks. The fund is off to a decent start with nearly $25 million in assets under management. The underlying index is “composed of developed and emerging market companies that could benefit from the long-term growth and innovation in genomics, immunology, and bioengineering,” according to iShares.
Again, IDNA isn't an old ETF, but it has surged 17.66% off its October lows.
The Invesco S&P 500 Equal Weight Health Care ETF (NYSE:RYH) is the equal-weight answer to the aforementioned XLV and a potent alternative at that, namely because as an equal-weight fund, it tilts toward smaller stocks.
The weighted average market capitalization of RYH's 61 holdings is $55.31 billion compared to $136.44 billion on XLV.
RYH is poised to outperform XLV this year, marking the third time in the past five yeas the equal-weight fund has done so.
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