July 7, 2023 - The US Health Care ETF market experienced a decline of -1.48% in its performance yesterday, as investors expressed concerns over the sector's prospects. This market, valued at approximately 5 billion euros and consisting of 10 exchange-traded funds (ETFs), witnessed a widespread negative trend. Several prominent ETFs, including the First Trust NYSE Arca Biotechnology UCITS ETF (FBTU), iShares Nasdaq US Biotechnology UCITS ETF (XLON:BTEC), iShares US Medical Devices UCITS ETF (UMDV), and Xtrackers MSCI USA Health Care UCITS ETF (XUHC), recorded daily returns of -0.82%, -0.84%, -0.30%, and -1.13%, respectively.
Driving this downturn were influential healthcare companies, with shares of Merck & Co, Lilly, Gilead Sciences, and Vertex Pharmaceuticals all suffering considerable setbacks. Merck & Co, a leading healthcare firm, experienced a -2.46% daily return and a -5.54% decline over the span of one week. Similarly, Lilly observed a -2.40% daily return and a -3.60% decline over one week. Gilead Sciences and Vertex Pharmaceuticals also faced declines of -2.39% and -2.19% in their daily returns, respectively, alongside -3.44% and -3.90% declines in their one-week performance. The market's movement appears to indicate investor uncertainty regarding the ongoing dynamics within the health care sector and the future prospects of these companies.
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