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Products April 3, 2007
XShares Adds Health Care ETFs
XShares Advisors LLC announced that two more of its HealthShares ETFs began trading Tuesday on the New York Stock Exchange (NYSE).
Reported by Fred Schneyer
According to a news release, this brings the total number of publicly traded HealthShares ETFs offered by XShares Advisors, a New York financial services company focused on the development and distribution of Exchange Traded Funds (ETFs), to 16. In mid-March the company added nine HealthShares to its ETF lineup (see XShares Launches Nine More HealthShares ETFs).
The two new HealthShares ETFs are the HealthShares European Drugs ETF and HealthShares Infectious Disease ETF.
ETFs are organized into therapeutic “Verticals” and represent areas of the health care, life science and biotechnology industries, according to the company.
Each Vertical tracks a collection of large, mid and small-cap stocks that addresses a distinct sub-segment of health care, such as the diagnosis and treatment of specific therapeutic areas (e.g. cardiology, cancer, infectious disease, etc.) and the development of medical devices (e.g. orthopedic repair, cardio devices, etc.), according to the announcement.
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Each HealthShares ETF contains 22-25 stocks, except the HealthShares Composite which has 80 stocks, and tracks an index that is based on a proprietary intellectual model, with quantitative parameters, developed by XShares Group LLC, the parent of XShares Advisors LLC.