Chapter 5. Slicing and Dicing: Sector ETFs

 

I usually devote about three hours a week to research. Years ago, I spent a lot more time than I do now, but what I’ve found is that you’re just spinning your wheels and making it worse.

 
 --ETF investor Tom Lawrence

On January 23, 2007, the ETF company HealthShares had the fund world buzzing when it launched its series of narrowly focused health-related funds on the New York Stock Exchange (NYSE). Each fund consists of a combination of small-, mid-, or large-cap companies focused on a therapeutic “vertical,” or a subsegment of the health-care, life-science, and biotechnology industries.

Jeff Feldman, the founder and chairman of XShares and creator of HealthShares, got the idea for the fund in 1999 while ...

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