LifeSci Index Partners, LLC (“LSIP”), a New York City-based
investment advisor and index provider, today announced the
completion of its semi-annual rebalancing and recomposition for its
BioShares Biotechnology exchange-traded funds (ETFs), which trade
under the symbols BBC and BBP on Nasdaq. These passively-managed
funds are designed to track their respective, rules-based indexes.
The BioShares Biotechnology Funds are the only ETFs to separate
Clinical Trials stage companies and Products stage companies into
two distinct funds. The BioShares Biotechnology Clinical Trial Fund
(Nasdaq:BBC) and BioShares Biotechnology Product Fund (Nasdaq:BBP)
offer investors exposure to these two distinct segments of the
biotechnology sector while diversifying some of the risks
associated with any single company.
In addition, BBC and BBP are the only ETFs to offer pure
biotechnology exposure without allocations to specialty
pharmaceutical, medical device and diagnostics, and generic drug
companies.
The BBC fund has decreased its number of holdings to 76 stocks
(previously 89), with a weighted average market capitalization of
$928 million (previously $1.0 billion). 3 stocks have been added by
meeting the inclusion criteria. 13 stocks have been removed as they
no longer meet the fund’s inclusion criteria, and 5 stocks have
moved to the BBP fund upon receiving FDA approval and entering the
Product stage for their lead drugs.
The BBP fund has increased its number of holdings to 37 stocks
(previously 35), with a weighted average market cap of $14 billion
(previously $14 billion). There were 5 stocks that transitioned
from the Clinical stage to the Products stage, 2 stocks were
removed pursuant to pending acquisitions, and 1 stock was removed
for no longer meeting the fund’s inclusion criteria.
Summary of Portfolio Changes
BBC Additions: AGTC, AVXS, BGNE, ITCI, NERV
BBC Deletions: ABUS, ACAD, ARDX, CARA, CASC, CMRX, DNAI,
ICPT, IDRA, INFI, MACK, MRTX, NWBO, PRTK, RLYP, TSRO, TTPH,
VSAR
BBP Additions: ACAD, ICPT, MACK, RLYP, TSRO
BBP Deletions: AEGR, ANAC, XNPT
ABOUT LIFESCI INDEX PARTNERS, LLC
LifeSci Index Partners, LLC is an index provider of
biotechnology-focused stock market indices and also serves as the
investment sub-advisor for the BioShares exchange traded funds. The
principals of our firm are also founders of and/or affiliated with
LifeSci Advisors, LLC, a unique investor relations consultancy
founded to provide companies in the life sciences a comprehensive
solution to investor communications and outreach. For more
information, please visit www.bioshares.com and
www.lifesciindex.com.
DISCLOSURE
Carefully consider the respective investment objectives,
risk factors and charges and expenses of the BioShares™
Biotechnology Clinical Trials Fund and the BioShares™ Biotechnology
Products Fund (the “Funds”) before investing. This and other
information can be found in the Funds' prospectus, available at
www.bioshares.com or by calling 1-888-383-4184. Read the prospectus
carefully before investing.
The “net asset value” (NAV) of the Fund is determined at the
close of each business day, and represents the dollar value of one
share of the Fund; it is calculated by taking the total assets of
the Fund, subtracting total liabilities, and dividing by the total
number of shares outstanding. The NAV of the Fund is not
necessarily the same as its intraday trading value. Fund investors
should not expect to buy or sell shares at NAV because shares of
ETFs such as the Fund are bought and sold at market price (not NAV)
and are not individually redeemed from the Fund. Thus, shares may
trade at a premium or discount to their NAV in the secondary
market. Brokerage commissions will reduce returns.
Fund Risks
Exchange Traded Funds: The value of an ETF may
be more volatile than the underlying portfolio of securities the
ETF is designed to track. The costs of owning the ETF may exceed
the cost of investing directly in the underlying securities.
Industry/Sector Concentration: A fund that
focuses its investments in a particular industry or sector will be
more sensitive to conditions that affect that industry or sector
than a non-concentrated fund.
Market Price/NAV: At the time of purchase
and/or sale, an investor's shares may have a market price that is
above or below the fund's NAV, which may increase the investor's
risk of loss.
Correlation to Index: The performance of the
fund and its index may vary somewhat due to factors such as fund
flows, transaction costs, and timing differences associated with
additions to and deletions from its index.
Non-Diversified: The fund is non-diversified
and may be more susceptible to factors negatively impacting its
holdings to the extent that each security represents a larger
portion of the fund's assets.
No Guarantee: There is no guarantee that the
portfolio will meet its objective.
Prospectus: For additional information on
risks, please see the fund's prospectus.
The information presented here is for informational purposes
only. It was prepared on information and sources that we believe to
be reliable, but we make no representations or guarantees as to the
accuracy or the completeness of the information contained
herein. This information is not intended to be individual or
personalized investment or tax advice. Please consult a financial
advisor or tax professional for more information regarding your tax
situation.
Virtus ETF Advisers, LLC serves as the investment adviser and
LifeSci Index Partners, LLC serves as the sub-adviser to the Funds.
The Funds are distributed by ETF Distributors LLC, an
affiliate of Virtus ETF Advisers, LLC. LifeSci Index
Partners, LLC also serves as the index provider for the related
indexes.
Contact:
Paul Yook
LifeSci Index Partners
212-915-2565