ETF provides international exposure
The iShares Nasdaq Biotechnology ETF (IBB) has exposure to 14 international stocks in its portfolio, with a weight of 9.36%. For the week ended July 24, 2015, the average return of these shares was -2.13%, outperforming the benchmark index and the broader market SPDR S&P 500 ETF (SPY).
IBB fell by 5.03%, and SPY lost 2.80% over the same period. The above graph indicates the performance of all the ADRs (American Depository Receipts) within the ETF versus the benchmark, which is the fund itself.
Leaders and laggards
Among all the ADRs within IBB, Prothena (PRTA) outperformed all other stocks with a gain of 7.33%. The stock went up since RBC Capital Markets analysts were positive on Prothena’s Parkinson’s drug, which could hit the market in the first half of 2016.