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Benchmark Indexes Continue to Outperform IBB and XBI


Dec. 4 2020, Updated 10:53 a.m. ET

IBB and XBI underperform

The iShares NASDAQ Biotechnology ETF (IBB) and the SPDR S&P Biotech ETF (XBI) provide investors with an opportunity to hold a basket of stocks from different subindustries from the biotech sector. For the period August 10–17, 2015, the benchmark indexes continued to outperform IBB and XBI.

The above graph reflects the performance of IBB and XBI against its respective benchmark indexes. The IBB tracks the NASDAQ Biotechnology Index as its benchmark index. The IBB’s benchmark index returned 0.85%, whereas IBB returned with 0.05%. Similarly, XBI’s benchmark index returned 0.42%, whereas XBI returned -0.54% for the period August 10–17, 2015.

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Stocks that were in the news

Novavax (NVAX) gained 26.36%. Novavax announced a positive set of data from three different clinical trials at different phases for RSV F vaccine, seasonal influenza, and Ebola GP vaccine. It also announced its 2Q15 revenues of $14 million compared to $8.3 million in 2Q14. It reported a net loss of $20.6 million. NVAX has a weight of 0.35% and 0.96% in IBB and XBI, respectively.

Intercept Pharmaceuticals (ICPT) had a weight of 0.91% and 0.84% in XBI and IBB, respectively, and fell by 11.68% for the week. The stock fell on poor 2Q15 results, and investors were not excited by the expected results on the Phase II results and the launch of its Phase III trial.

Mylan (MYL) fell 3.5% for the period ending August 10–17, 2015, following this trend. It continued its work toward completing the acquisition of Perrigo (PRGO) by acquiring PRGO’s ordinary shares.


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