
XBI: An Equal Weight ETF On Biotech That Amplifies Its Speculative Component
State Street SPDR S&P Biotech ETF (XBI) has surged nearly 30% YTD, regaining the attention of Wall Street. The outperformance is due to an equal-weight structure, which makes it a high-beta instrument, particularly dependent on the small/mid U.S. biotech segment. For this reason, in my opinion, it remains more sensitive to the dynamics that affect early-stage (pre-revenue / clinical stage) companies.







