iShares U.S. Pharmaceutical ETF (ARCA: IHE)

에 대한 최신 뉴스 iShares U.S. Pharmaceutical ETF (ARCA:IHE)

iShares U.S. Pharmaceutical ETF

Healthcare

The Fund seeks to track the investment results of the Dow Jones U.S. Select Pharmaceuticals Index (the Underlying Index), which measures the performance of the pharmaceuticals sector of the U.S. equity market, as defined by S&P Dow Jones Indices LLC (the Index Provider or SPDJI). The Underlying Index includes pharmaceutical companies such as manufacturers of prescription or over-the-counter drugs or vaccines. The Underlying Index may include large-, mid- or small-capitalization companies. As of March 31, 2024, a significant portion of the Underlying Index is represented by securities of companies in the healthcare and pharmaceuticals industries or sectors. The components of the Underlying Index are likely to change over time.

Johnson & Johnson

Eli Lilly & Co.

Viatris

Bristol-Myers Squibb Co.

Pfizer, Inc.

Zoetis Inc. [zts]

Royalty Pharma

Catalent, Inc.

Merck & Company Inc.

Intra-Cellular Therapies Inc

Jazz Pharmaceuticals, Plc

Corcept Therapeutics Inc

Elanco Animal Health Inc.

iShares US Pharmaceutical ETF

Donald Trump Shutterstock

News

Health Care

Markets

FTXH

iShares Dow Jones US Pharmaceuticals Index Fund

KURE

PILL

Merrill Lynch Pharmaceutical HOLDRs Trust

지난주 도널드 트럼프 대통령이 약가 인하 행정명령에 서명한 후, 전문가들은 제약사들이 가격 결정력이 떨어지는 가운데 마진 축소 가능성에 직면해 있는 가운데 처방약급여관리업체(PBM)가 가장 큰 타격을 받을 수 있다.

트럼프의 약가 인하 행정명령, PBM에 가장 큰 타격···CVS헬스, 시그나, 유나이티드헬스 주목

Pharmacy,,Pills,And,Box,With,Healthcare,Store,,Shelf,And,Prescription

Government

일요일(11일) 도널드 트럼프 대통령은 전면적인 행정 명령을 통해 처방약 가격을 인하하겠다고 공언했다.무슨 일 있었나: 트럼프 대통령은 트루스 소셜(Truth Social)을 통해 새로운 행정명령에 서명할 계획을 발표했다. 대통령은 이번 행정명령이 &#34;최혜국대우&#34;(MFN) 가격 정책에 따라 &#34;미국은 전 세계에서 가장 낮은 가격을 지불하는 국가와 동일한 가격을 지불&#34;하는 것을 보장할 것이라고 밝혔다.

트럼프 &#34;처방약 가격 30~80% 인하할 행정명령에 서명할 것&#34;···최혜국대우 약가 정책 가동

Eli Lilly and Co.

Equities

ABBV

AMGN

GILD

REGN

도널드 트럼프 대통령은 수요일(9일) 상호관세를 90일 동안 일시 중단했지만, 나중에 집무실에서 기자들과의 대화에서 제약 회사들이 관세에 직면할 것이라고 확인했다. 

트럼프의 의약품 관세 확인...일라이릴리·애브비·리제네론·브리스톨 등 제약주 급락

iHeartMedia Inc

After Donald Trump signed an <a href="https://www.benzinga.com/general/health-care/25/05/45384935/trump-again-promises-lower-drug-prices-by-cutting-out-middlemen-like-unitedhealth-cvs-will-it-work-this-time">executive order</a> slashing drug prices last week, experts have highlighted how pharmacy benefit managers (PBMs) could be hit the hardest despite pharmaceutical companies facing the potential of compressed margins amid poor pricing power.
What Happened: According to Thomas Shipp, the head of equity research at LPL Financial, the pressure that the <a href="https://www.benzinga.com/news/25/05/45389750/trump-claims-drug-price-crackdown-could-slash-your-prescription-costs-by-59-but-will-big-pharma-fight-it-again">pharmaceutical manufacturers</a> are facing to lower prices domestically, &#8220;has the potential to compress margins by eroding pricing power and would provide a significant headwind to drug manufacturer share prices.&#8221;
However, he explains that the &#8220;middlemen&#8221; or PBMs that facilitate drug distribution and negotiate with pharmaceutical drug manufacturers to lower prescription costs have come under scrutiny for opaque pricing practices, like retaining rebates from drug manufacturers and "spread pricing."
&#8220;PBMs pay pharmacies less than what they charge health plan participants for drugs,&#8221; he said.
Another April 15 <a href="https://www.benzinga.com/markets/25/04/44866755/mark-cuban-says-this-trump-healthcare-order-could-save-hundreds-of-billions">executive order</a> signed by Trump called for increased transparency into PBM fees and requested that the role of these middlemen be reevaluated.
CVS Caremark, owned by CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Express Scripts, owned by Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), and OptumRx, owned by UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), are the biggest PBM companies.
Shipp also underscored that PBM savings are expected, but direct price controls pose a longer-term risk for U.S.-heavy drugmakers. Transparency will reveal if PBM margin erosion can prevent deeper manufacturer cuts, he highlights.
&#8220;While many questions remain about how these executive orders will be implemented, after the initial news flow is digested, the net effect appears less detrimental to pharmaceutical drug manufacturers than to PBMs,&#8221; said Shipp.
&#8220;That said, reworking the way Americans buy their medicine is going to take a long time. Along the way, efforts to support direct-to-consumer sales will support both the manufacturers leading the charge and those they partner with for distribution,&#8221; he added.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45465955/ark-invest-takes-swipe-at-mstr-mara-says-bitcoin-treasury-companies-dont-make-sense-fundin">Ark Invest Expert Takes Swipe At MSTR, MARA, Says &#8216;Bitcoin Treasury Companies Don&#8217;t Make Sense:&#8217; &#8216;Funding Purchases With Debt&#8230;Seems Like A Recipe For Disaster&#8217;</a>
Why It Matters: Meanwhile, the billionaire investor and Shark Tank fame, Mark Cuban, called PBMs a &#8220;racket&#8221; in an X post by explaining that they <a href="https://www.benzinga.com/personal-finance/25/04/44674382/mark-cuban-says-big-insurance-companies-and-pbms-control-healthcare-costs-everyone-has-to-kiss-their-a-and-accept-the-complications">negotiate rebates and not prices</a>.
&#8220;They negotiate rebates. Not prices. In fact, the big PBMs control more than 95pct of the rebate negotiations. Big brand Pharma companies can&#8217;t negotiate with anyone else. IMO, it&#8217;s a racket,&#8221; he said.
While the April 15 order calls for transparency in pricing, Cuban highlights that 30% of the $4.9 trillion in healthcare spending is attributed to the overhead insurance companies and pricing distortions big PBMs create.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One of the great lies the big PBM industry tells us is that they are needed to negotiate lower prices. It&#39;s a lie. They negotiate rebates. Not prices. In fact, the big PBMs control more than 95pct of the rebate negotiations. Big brand Pharma companies can&#39;t negotiate with…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1923880717420986860?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Here are the aforementioned PBMs operating companies that have performed in 2025.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>)</td>
<td>41.41%</td>
<td>8.94%</td>
</tr>
<tr>
<td>Cigna Group. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)</td>
<td>16.92%</td>
<td>-3.73%</td>
</tr>
<tr>
<td>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td>-42.14%</td>
<td>-43.56%</td>
</tr>
</tbody>
</table>
</figure>
Here are a few pharma-linked ETFs for investors to consider.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-0.28%</td>
<td>-4.66%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-1.20%</td>
<td>-2.03%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-3.45%</td>
<td>-0.83%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-4.83%</td>
<td>-1.70%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>11.10%</td>
<td>1.65%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-6.51%</td>
<td>-6.89%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-23.63%</td>
<td>-24.07%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended higher on Friday. The SPY was up 0.63% to $594.20, while the QQQ advanced 0.44% to $521.51, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Photo courtesy: Rawpixel.com / Shutterstock.com

Trump's Drug Price Order Hits PBMs Hardest: CVS, Cigna, UNH In Focus As Experts Highlight 'Racket,' Pricing Distortion

On Sunday, President Donald Trump vowed to <a href="https://www.benzinga.com/markets/25/04/44945973/trump-administration-considers-lowering-us-drug-prices-to-international-levels-report">slash prescription drug prices</a> through a sweeping executive order.
What Happened: Trump took to Truth Social and announced plans to sign a new executive order. Under what he called a "most favored nation" pricing policy, the President said the executive order will ensure that "the United States will pay the same price as the Nation that pays the lowest price anywhere in the World."
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="966" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22.png" alt="" class="wp-image-911175" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22.png 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22-190x300.png 190w" sizes="(max-width: 612px) 100vw, 612px" /></figure>
Screenshot From President Donald Trump&#8217;s Truth Social Account
He added that prescription drug prices would drop "almost immediately, by 30% to 80%," and called the move "one of the most consequential Executive Orders in our Country's history."
In response, a user on X, formerly Twitter, expressed skepticism, saying, "It would be nice if Trump&#8217;s super important post about drug prices was really achievable. I think all Democrats would agree&#8230; But like most things Trump brags about, they are pie-in-the-sky promises that can&#8217;t and won&#8217;t actually materialize."
See Also: &nbsp;<a href="https://benzinga.com/news/25/04/44935195/elizabeth-warren-says-if-trump-illegally-fires-fed-chair-powell-hell-crash-our-markets-cause-more-economic-p" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says, ‘If Trump Illegally Fires Fed Chair Powell, He'll Crash Our Markets, Cause More Economic Pain To American Families'</a>
That's where <a href="https://www.benzinga.com/markets/25/04/44866755/mark-cuban-says-this-trump-healthcare-order-could-save-hundreds-of-billions">billionaire entrepreneur</a> and Cost Plus Drugs founder Mark Cuban stepped in. Cuban acknowledged the ambition of Trump's plan but highlighted a more attainable path forward.
"I don't know if he can force the price, but he can force transparency, and that will help," Cuban wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I dont know if he can force the price , but he can force transparency , and that will help. He did it w hospitals Force transparency of contracts, pricing , rebates , claims and a lot could change Biggest thing he could do is encourage brand pharma to sell to cost plus drugs… <a href="https://t.co/vkz3Q2IFkn">https://t.co/vkz3Q2IFkn</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1921710702743417149?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
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</figure>
Why It's Important: Last month, Trump issued a <a href="https://benzinga.com/government/regulations/25/04/44851905/trumps-new-order-targets-drug-pricing-transparency-and-medicare-cost-reduction">multi-part executive order</a> targeting drug pricing transparency and Medicare cost reduction.
Earlier this month, he signed <a href="https://www.benzinga.com/news/25/05/45232993/trump-orders-fda-to-fast-track-us-drug-production-as-tariff-threat-looms-on-imported-medicines-cites">another executive order directing</a> the Food and Drug Administration to expedite approvals for domestic pharmaceutical manufacturing facilities.
The Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>) and iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) rose 2.61% and 2.81%, respectively, over the past month.
Price Action: In after-hours trading, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) was up 0.20%, while Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) increased by 0.32% and 0.13%, respectively. Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) also saw a modest gain of 0.12%, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Photo Courtesy: PeopleImages.com &#8211; Yuri A On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Says Prescription Drug Prices Set To Drop By 30% To 80% 'Almost Immediately' Thanks To 'Most Favored Nation' Plan, Mark Cuban Urges President To 'Force Transparency'

As the drug industry is in the middle of a growing policy maelstrom in Washington, D.C., investors are <a href="https://www.benzinga.com/etfs">closely watching pharmaceutical ETFs</a> to measure market sentiment and ride out the emerging volatility. 
With President Donald Trump&#8217;s administration rehashing contentious ideas on drug pricing and manufacturing policy, the stakes are increasing — not only for Big Pharma, but for the overall healthcare investment environment.
Amid the trends, pharma-targeted ETFs are being watched under a more risk-averse lens. Each of the funds provides sector exposure, but structural idiosyncrasies — and varying levels of protection from regulation-induced shocks — are gaining heightened relevance.
<h1 class="wp-block-heading">Slicing Up The Pharma ETF Scene</h1>
iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)
The ETF offers concentrated exposure to large-cap U.S.-listed pharma companies. Its top holdings are Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) — companies with strong pipelines and international revenue streams.
Defensive Tilt: IHE&#8217;s emphasis on blue-chip names makes it a relatively defensive play during periods of political unrest.
Policy Sensitivity: But its large weighting in companies with substantial Medicaid and U.S. sales exposure renders it highly sensitive to pharmaceutical pricing reform in the domestic market.
SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)
Unlike IHE, the SPDR S&amp;P Pharmaceuticals ETF uses an equal-weighting style, dispersing exposure across a larger segment of the industry, including mid- and small-cap companies such as Viatris (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>).
Diversified Risk: This format caps overconcentration in a single name and increases sensitivity to prospective M&amp;A action.
Higher Volatility: As more importance is assigned to lesser-known participants, XPH can see greater price volatility, particularly as regulatory threats play out.
VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)
Those in search of global exposure should look at PPH, which includes international powerhouses such as AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) and Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) on par with U.S. behemoths.
Geopolitical Hedge: International diversification renders PPH less susceptible to U.S.-specific tariff risks or reforms.
Growth Exposure: Novo Nordisk&#8217;s dominance of GLP-1-based obesity treatment provides a high-growth component, although subject to some headwinds due to compounding alternatives in the U.S.
<h1 class="wp-block-heading">Volatility Ahead?</h1>
These ETF dynamics are unfolding against a backdrop of sweeping proposals and heightened industry-government tension. The Trump administration's <a href="https://www.benzinga.com/markets/25/04/44945973/trump-administration-considers-lowering-us-drug-prices-to-international-levels-report">revived push to tether Medicaid drug prices to lower international benchmarks</a> has sent shockwaves through the pharmaceutical sector. Industry analysts estimate the pricing framework could erase as much as $1 trillion in revenue over a decade, according to Bloomberg.
Surprised by the White House&#8217;s latest move, drug industry executives have mounted a concerted lobbying effort, trying to keep the policy from taking hold in Congress. Although some Republican lawmakers, including Kentucky Rep. Brett Guthrie, have reaffirmed their opposition to global reference pricing, the proposal is still a live political threat, Bloomberg reported.
And adding to investor anxiety is Trump&#8217;s latest threat of<a href="https://www.benzinga.com/25/04/44708204/trump-hints-at-major-tariff-on-imported-pharmaceuticals-us-pharma-stocks-tumble-in-wednesday-pre-market"> sector-specific tariffs on drugs</a>. Although the Department of Commerce&#8217;s Section 232 investigation can take months, the threat of new import tariffs — particularly on Indian generics and contract-manufactured products — has already spilled over into related stocks. Insiders within the industry say the administration might move while there is a 90-day moratorium on reciprocal tariff imposition.
Not all of Washington&#8217;s signals are bearish, though. A recently signed executive order is intended to <a href="https://www.benzinga.com/government/regulations/25/05/45215281/trump-orders-fda-to-fast-track-us-drug-production-as-tariff-threat-looms-on-imported-medicines-cites-national-security-concerns">lower FDA approval times for U.S. manufacturing plants</a> — potentially speeding up reshoring and encouraging investment in U.S.-based production. For more exposed domestic manufacturers and smaller company-focused ETFs such as XPH, this may be a long-term tailwind.
<h1 class="wp-block-heading">Proceed, But With Prescription-Strength Caution</h1>
For those looking for exposure to the pharma industry, ETFs are still an important tool — but their variations are more important than ever.
IHE provides stability but is heavily influenced by the success of U.S. policy.
XPH offers balanced exposure and is potentially more sensitive to reforms in domestic manufacturing.
PPH offers a global cushion, especially useful if U.S.-focused risks increase.
In the end, pharma ETFs&#8217; future may depend less on laboratory discoveries than on the political medicine doled out by Washington. 
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/new-etfs/25/05/45259802/vistashares-launches-qusa-etf-targeting-15-annual-yield-with-quality-us-stocks-options-overlay">VistaShares Launches QUSA ETF, Targeting 15% Annual Yield With Quality U.S. Stocks, Options Overlay</a></li>
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Photo: Aria Armoko via Shutterstock

Sector ETFs

Trading Ideas

ETFs

VTRS

Are Your Health Care ETFs Safe? Trump's New Policies May Trigger Shockwaves Across Pharma Stocks

The Trump Administration is reportedly mulling over a policy to match U.S. drug prices with those in other developed nations. 
What Happened:&nbsp;The Trump Administration is&nbsp;contemplating a policy to align U.S. drug prices with lower rates in other developed countries. The policy is likely to be enforced by the agency responsible for&nbsp;Medicare and Medicaid health programs, reported Reuters&nbsp;citing sources from the pharmaceutical industry.
The sources highlighted this policy as the pharmaceutical industry&#8217;s primary concern, surpassing other government actions under consideration, such as tariffs on imported medicines. One source labeled it as the most significant &#8220;existential&nbsp;threat to the industry and&nbsp;U.S. biosciences innovation.&#8221;
Though the Trump Administration hasn't directly addressed reference pricing, the conservative America First Policy Institute suggested it could be included in Medicare's drug price negotiations.
The industry trade group, PhRMA, has already approached Congress earlier this year regarding this issue, known as international reference pricing. The first source expressed apprehension about the potential upheaval this policy could trigger in the healthcare market, beyond just pharmaceuticals.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/44935195/elizabeth-warren-says-if-trump-illegally-fires-fed-chair-powell-hell-crash-our-markets-cause-more-economic-p" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says, &#8216;If Trump Illegally Fires Fed Chair Powell, He&#8217;ll Crash Our Markets, Cause More Economic Pain To American Families&#8217;</a>
Why It Matters: Under Biden&#8217;s Inflation Reduction Act, the U.S. began negotiating prices for its costliest drugs. However, the negotiated prices for the first 10 drugs remain over twice as high—and sometimes five times higher—than what drugmakers charge in other wealthy nations. During his first term, President Donald Trump&#8216;s attempt to implement an international reference pricing program was halted by a court ruling.
The current report by Reuters comes on the heels of President Trump&#8217;s executive order <a href="https://www.benzinga.com/government/regulations/25/04/44851905/trumps-new-order-targets-drug-pricing-transparency-and-medicare-cost-reduction">aimed </a>at lowering drug prices and reducing Medicare costs signed earlier this month. The order instructed the Secretary of Health and Human Services to seek guidance for the Medicare Drug Price Negotiation Program for the initial price applicability year 2028 and how drugmakers should implement the set prices in 2026, 2027, and 2028. 
This potential move is perceived as a major threat to the pharmaceutical industry. Boston University's Rena Conti told Reuters that drugmakers might respond to international reference pricing by raising prices in reference countries, potentially justifying higher U.S. prices and increasing global revenue.
Invesco Pharmaceuticals ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>) and iShares U.S. Pharmaceuticals ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) declined 8.6% and 7.5%, respectively over the past month.
Price Action: During the pre-market session on Wednesday, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) gained 2.39%, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) climbed 1.16% and 1.07%, respectively. Meanwhile, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) edged 0.48% higher.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44930938/dogecoin-jumps-7-shiba-inu-up-4-is-a-major-meme-rally-brewing" target="_blank" rel="noreferrer noopener">Dogecoin Jumps 7%, Shiba Inu Up 4%: Is A Major Meme Rally Brewing? &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Administration Considers Lowering US Drug Prices To International Levels: Report

Three <a href="https://www.benzinga.com/etfs">healthcare-themed ETFs</a> were in sharp spotlight Thursday as the sector got through a wild trading day, fueled by UnitedHealth&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) earnings disappointment and steep stock decline. While insurers weighed down on broad healthcare gauges, a drugmakers rally, led by Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), limited the damage.
Also Read: <a href="https://www.benzinga.com/general/health-care/25/04/44869920/unitedhealth-ceo-says-high-cost-of-us-health-care-simply-not-sustainable">UnitedHealth CEO Says High Cost Of US Health Care &#8216;Simply Not Sustainable&#8217;</a>
ETFs In Spotlight
Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)
<ol>
<li></li>
</ol>
1-Day Return (Thursday): -0.6%
Top holdings of this fund are Eli Lilly, UnitedHealth, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>). UnitedHealth dropped 2.4%, spooking XLV early in the session. The ETF trimmed losses, however, as Eli Lilly rallied 14.3% on <a href="https://www.benzinga.com/general/biotech/25/04/44878381/eli-lilly-rallies-over-14-notches-best-day-since-june-2000-on-oral-weight-loss-drug-results-analysts-react">good weight-loss pill trial news</a>, calling out the group&#8217;s internal divergency. Barring Thursday&#8217;s turmoil, though, XLV is off just 1.5% for the year so far and commands a 17x forward-earnings multiple—below its five-year history and the large-cap S&amp;P 500&#8217;s 20x multiple, according to Barron&#8217;s.
iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)
<ol start="2">
<li></li>
</ol>
1-Day Performance: +4.6%
IHE surged as investors rotated into large-cap pharma stocks, bolstered by Eli Lilly's rally. The gains came despite a nearly 8% drop in Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), Lilly's rival in the GLP-1 space.
SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)
<ol start="3">
<li></li>
</ol>
1-Day Performance: +2.15%
XPH tracked gains across a broader basket of pharmaceutical names, benefiting from bullish sentiment on drugmakers following Lilly's breakthrough.
Market Context: A Sector Of Contrasts
UnitedHealth&#8217;s <a href="https://www.benzinga.com/general/health-care/25/04/44869920/unitedhealth-ceo-says-high-cost-of-us-health-care-simply-not-sustainable">poor earnings and soft guidance</a> spooked healthcare investors, highlighting how exposed insurers are to firm-specific disappointments and policy-level risks. The 22% decline in the stock not only heavily burdened XLV—where it is the second-largest position—but pulled down peers CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), and Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) too.
However, the overall message of the day was one of subtlety and not panic. Eli Lilly&#8217;s explosion proved the influence of innovation in developing market-driving catalysts within the health-care sector. It provided the stimulus that helped neutralize weakness within managed care and indicated how investors in ETFs are able to still uncover segments of strength despite sector-wide selloffs.
At the same time, Johnson &amp; Johnson kept its steady pace going with the help of strong earnings.
Device and medical equipment manufacturers like Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), Zimmer Biomet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>), and Stryker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>) are also attracting investor attention as Wall Street is wagering on secular demand from the aging population.
Takeaway
The health care industry remains far from monolithic. Thursday&#8217;s ETF action underscored the increasing divide between pressured insurers and pharma names benefiting from innovation tailwinds. For investors in ETFs, the message is simple: thematic selectivity is key. Though political headlines and earnings fluctuations might continue to shock portions of the industry, solid fundamentals within pharma and medtech imply there&#8217;s still ample healthy opportunity to go around.
Read Next: 
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<li><a href="https://www.benzinga.com/25/04/44876466/the-10k-handbag-hoax-tiktoks-trade-war-puts-luxury-etfs-in-the-hot-seat">The $10K Handbag Hoax? TikTok&#8217;s Trade War Puts Luxury ETFs In The Hot Seat</a></li>
</ul>
Image: Shutterstock/The Image Party

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

ETF Shake-Up: UNH's Meltdown Meets LLY's Moonshot

Even as President Donald Trump paused the reciprocal tariffs for 90 days on Wednesday, he later confirmed in a conversation with reporters at his Oval Office that pharmaceutical companies would face tariffs.
What Happened: The rally in pharma stocks was short-lived after the stocks reversed course on Thursday. When a reporter asked President Trump if he would go ahead and levy tariff duties on pharmaceutical stocks, he said, &#8220;Yeah, well, I will be because we want them coming back.&#8221;
&#8220;You know, we realized during COVID-19 that we don&#8217;t make our drugs and our pharmaceuticals in this country. So, I realized that, and it was a big realization,&#8221; he added.
Citing the emergency during COVID-19, he stated that he wanted the pharma companies to produce drugs in the U.S.
&#8220;We had to go to China to get drugs, we had to go to other places, we don&#8217;t make it. That&#8217;s because we let them leave, and now if they want to come back, we&#8217;re going to put tariffs on the pharmaceutical companies, and they&#8217;re going to all want to come back,&#8221; Trump said.
The pharma stocks tumbled on Thursday after Trump&#8217;s confirmation of tariffs.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma Stocks</td>
<td>Thursday&#8217;s Performance</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</td>
<td>-4.35%</td>
<td>-7.35%</td>
<td>-5.09%</td>
</tr>
<tr>
<td>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</td>
<td>-3.14%</td>
<td>-2.92%</td>
<td>3.99%</td>
</tr>
<tr>
<td>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</td>
<td>-6.10%</td>
<td>-11.15%</td>
<td>2.73%</td>
</tr>
<tr>
<td>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</td>
<td>-5.26%</td>
<td>-23.60%</td>
<td>-40.63%</td>
</tr>
<tr>
<td>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</td>
<td>-3.87%</td>
<td>-18.87%</td>
<td>-18.03%</td>
</tr>
<tr>
<td>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</td>
<td>-3.66%</td>
<td>10.36%</td>
<td>47.71%</td>
</tr>
<tr>
<td>Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</td>
<td>-5.32%</td>
<td>-21.80%</td>
<td>-38.53%</td>
</tr>
<tr>
<td>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td>-3.33%</td>
<td>8.54%</td>
<td>4.23%</td>
</tr>
<tr>
<td>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>-1.51%</td>
<td>3.24%</td>
<td>-0.07%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44755181/pentagon-slashes-5-1-billion-in-accenture-deloitte-booz-allen-contracts-thats-a-lot-of-consulting">Pentagon Slashes $5.1 Billion In Accenture, Deloitte, Booz Allen Contracts: &#8216;That&#8217;s A Lot Of Consulting&#8217;</a>
Why It Matters: Despite a 90-day pause on reciprocal tariffs, base global tariffs of 10% and China tariffs of 125%, along with sector-specific tariffs of 25% on steel and aluminum, auto, and auto parts remain in place. Adding to it, the President hinted that he could soon announce tariffs on pharmaceutical companies.
Here are some of the pharmaceutical industry-linked exchange-traded funds that could be impacted.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-7.02%</td>
<td>-7.51%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-7.04%</td>
<td>-6.08%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-10.13%</td>
<td>-4.37%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-14.05%</td>
<td>-11.45%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>2.88%</td>
<td>0.35%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-11.54%</td>
<td>-10.18%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-41.35%</td>
<td>-43.86%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: After Thursday&#8217;s fall, following Wednesday&#8217;s rebound, the Nasdaq 100 index was 17.46% lower than its previous high of 22,222.61 points. The S&amp;P 500 index was down 14.31% from its record of 6,147.43 points, and the Dow Jones declined 12.16% from its 52-week high of 45,073.63 points.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended lower on Thursday. The SPY was down 4.38% to $524.58, while the QQQ declined 4.25% to $446.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members" target="_blank" rel="noreferrer noopener">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a></li>
</ul>
Photo courtesy: Shutterstock

Eli Lilly, AbbVie, Bristol Myers, Regeneron, And Other Pharma Companies Slide As Donald Trump Confirms Tariffs On Pharma Companies

As trade tensions heat up, one sector might have the immunity investors need &#8211; biopharma. JPMorgan analyst Chris Schott sees the industry as a relative &#8220;safe haven&#8221; despite looming <a href="https://www.benzinga.com/topic/tariffs">pharmaceutical-specific tariffs</a>, thanks to its high-margin business model and operational flexibility.
Read Also: <a href="https://www.benzinga.com/markets/equities/25/04/44620686/sp-500-nasdaq-futures-plunge-over-3-as-trumps-reciprocal-tariff-plan-hits-market-confidence">Trump&#8217;s &#8216;Reciprocal Tariff&#8217; Plan Hits Market Confidence As Dow Futures Drops Over 830 Points</a>
<h2 class="wp-block-heading">Tariffs Loom, But Biopharma Stands Strong</h2>
While the White House has not revealed details on pharma-related tariffs, broader trade restrictions announced today have put investors on edge. Schott acknowledges that some uncertainty will linger until the Section 232 pharmaceutical-specific tariffs are fully outlined in the coming weeks. However, he believes the sector has the tools to weather any potential impact.
Biopharma companies benefit from low capital expenditure intensity and high gross margins, making them more resilient in adjusting to cost pressures. Many also can shift intellectual property and manufacturing to the U.S. if needed while finding cost efficiencies elsewhere.
<h2 class="wp-block-heading">When Will The Impact Be Felt?</h2>
For now, companies appear to have time on their side. Schott anticipates that any direct financial impact from tariffs will likely hit in 2026 rather than 2025, as firms work through existing inventory already in the U.S. That gives the sector a buffer period to assess the extent of the tariffs and adapt accordingly.
<h2 class="wp-block-heading">Actionable ETFs For Investors</h2>
Investors looking to capitalize on biopharma&#8217;s defensive positioning amid tariff uncertainty may consider iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) and SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>). These funds provide exposure to leading drugmakers who are expected to navigate potential trade disruptions more smoothly than other industries.
<h2 class="wp-block-heading">Key Questions Still Remain</h2>
Several unknowns still need to be addressed: What will the tariff levels be by country? Will they target low-cost active pharmaceutical ingredients (APIs) or final drug products with higher cost implications? Will these tariffs remain in place in the long term?
Schott expects companies to shed more light on these issues in their upcoming earnings calls. 
Until then, while tariffs shake the broader market, biopharma appears to have taken its medicine &#8211; staying strong while others scramble.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44622346/trumps-reciprocal-tariff-math-a-masterclass-in-economic-absurdity">Trump&#8217;s &#8216;Reciprocal Tariff&#8217; Math: A Masterclass In Economic Absurdity</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Biotech

Analyst Ratings

General

Biopharma: A 'Safe Haven' As Tariff Turmoil Rages On?

Investors are scrambling to assess the potential fallout of yet <a href="https://www.benzinga.com/topic/tariffs">another tectonic trade decision</a>. 
What Happened: President Donald Trump plans to impose a 25% levy on <a href="https://www.benzinga.com/25/02/43805852/trump-shakes-global-trade-with-25-auto-chip-and-pharma-tariffs-announcement-asian-stocks-pare-their-five-day-rally">auto, semiconductor, and pharmaceutical imports</a>,
This move could have far-reaching consequences for <a href="https://www.benzinga.com/etfs">ETFs with heavy exposure to these sectors</a>, particularly those tracking automakers, chipmakers, and biotech firms.
Trump's protectionist stance triggered an immediate market response across the global markets. Asian stocks retreated after a five-day rally, with the MSCI Asia Pacific Index slipping, particularly affecting Japanese automakers like Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>).
Also Read: <a href="https://www.benzinga.com/news/global/25/02/43795579/warren-buffett-unfazed-by-trumps-tariff-threats-oracle-of-omaha-bets-on-mexico-beer">Warren Buffett Unfazed By Trump&#8217;s Tariff Threats: Oracle Of Omaha Bets On Mexico, Beer</a>
Automakers: The U.S. imported around 8 million passenger cars and light trucks last year, comprising 50% of total vehicle sales, according to a report by Wall Street Journal. A 25% tariff would increase vehicle prices, impact supply chains, and hurt companies dependent on overseas manufacturing. 
Here are a few ETFs likely to take a hit:
<ul>
<li>Global X Autonomous &amp; Electric Vehicles ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRIV#NASDAQ">DRIV</a>): Fairly exposed to Toyota, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Ford (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), this fund could face turbulence as trade tensions mount.</li>
</ul>
<ul>
<li>First Trust NASDAQ Global Auto Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARZ#NASDAQ">CARZ</a>): Tracks major global automakers, including BMW, Honda, and General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), which rely on imported parts. The ETF also has significant exposure to Toyota and Tesla and allocates 46% of its assets to overseas stocks. That places it in a precarious position amid escalating tariff situations.</li>
</ul>
Chips: Trump also declared that sectoral tariffs on semiconductors would start at "25% or higher", escalating further over time. This comes as the U.S. considers a 100% tariff on Taiwanese semiconductors, an industry heavily reliant on TSMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
<ul>
<li>iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) – With Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) among its top holdings, this fund is exposed to volatility stemming from supply chain disruptions.</li>
</ul>
<ul>
<li>VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) – Heavily weighted towards TSMC, Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), and Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), making it vulnerable to any tariff escalation.</li>
</ul>
Pharma: The pharmaceutical sector is also caught in the crosshairs, with Trump hinting at escalating tariffs beyond 25% over the year. This could upend drug pricing, R&amp;D costs, and supply chain dynamics for major biopharma companies.
<ul>
<li>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>): Tracks major drugmakers like Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Merck (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), and Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), all of which could see higher costs.</li>
</ul>
<ul>
<li>SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>): While biotech firms often have global R&amp;D operations, increased tariffs could disrupt access to imported drug components.</li>
</ul>
Why It Matters: Trump has long voiced concerns over U.S. automotive exports being treated unfairly abroad. In his first term, he threatened a similar 25% car tariff but ultimately backed down.
For ETF investors, volatility is back on the table. Those holding funds exposed to autos, chips, and pharmaceuticals must brace for a bumpy ride. While Trump believes the move will bring manufacturing back home, the short-term pain could be severe.
The Wall Street Journal reported that U.S. companies may receive a phase-in period, with tariffs increasing over the course of the year.
What's Next: Markets will be watching closely as April 2 (when auto tariffs are expected to kick in) approaches. Any delays or modifications to the tariff plan could shift investor sentiment. 
For now, ETF traders should keep an eye on sectoral rotation, hedge exposure where necessary, and prepare for the potential impact of another round of trade wars.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/02/43794873/vanguard-overtakes-state-street-as-top-etf-provider-3-funds-in-focus">Vanguard Overtakes State Street As Top ETF Provider: 3 Funds In Focus</a></li>
</ul>
Photo: Shutterstock

Broad U.S. Equity ETFs

AAPL

AVGO

CARZ

DRIV

INTC

NVDA

QCOM

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

TSLA

Trade War Redux: These ETFs Due For Bumpy Ride Thanks To Trump Tariffs On Auto, Pharma, Chip Imports

<a href="https://www.benzinga.com/topic/ken-griffin">Ken Griffin</a>'s <a href="https://www.benzinga.com/topic/citadel-securities">hedge fund Citadel</a> has placed a £305 million ($390 million) short bet against GSK PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), marking the largest wager against the UK pharma giant in over a decade, <a href="https://www.ft.com/content/6520c6eb-4a30-4909-9c86-1b6b2e471743">reported</a> the Financial Times. 
The position, disclosed to the UK's Financial Conduct Authority, amounts to 0.51% of GSK's outstanding shares.
<h2 class="wp-block-heading">GSK's Rally Faces A Reality Check</h2>
GSK stock has climbed 8.20% in the past month, fueled by a £2 billion ($2.5 billion approx.) stock buyback and strong HIV and cancer drug sales. Yet, it still trails peers. 
Over the past five years, GSK shares have declined 17.53%, while the S&amp;P 500 pharmaceutical index has surged 45%. Griffin's short signals skepticism over the company's long-term pipeline, especially as its HIV drugs near a patent cliff.
Read Also: <a href="https://www.benzinga.com/general/biotech/25/02/43638136/goldman-sachs-turns-bearish-on-vaccine-maker-dynavax-amid-shingles-and-hepatitis-b-uncertainty">Goldman Sachs Turns Bearish On Vaccine Maker Dynavax Amid Shingles And Hepatitis B Uncertainty</a>
<h2 class="wp-block-heading">Hedge Funds, Analysts Are Split</h2>
This isn't the first time hedge funds have circled GSK. In 2021, activist investor Elliott Management pushed for a leadership shake-up. 
Meanwhile, JPMorgan analysts view GSK's latest earnings and guidance as "positive," but question the buyback's timing. Barclays called it "unexpected," while Jefferies deemed it "well received."
<h2 class="wp-block-heading">Takeaways For Investors</h2>
GSK's challenges have led to mixed bets on its future, but investors seeking exposure to Big Pharma without GSK's risks may look at industry leaders like Eli Lilly &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>). 
Alternatively, the iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) and SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>) provide diversified exposure.
With Citadel betting against GSK, the stock could see increased volatility—making it one to watch.
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Short Ideas

Hedge Funds

Ken Griffin's Citadel Places Big Short Bet Against GSK - Here's What It Means for Investors

On Monday, the U.S. District Court for the District of Massachusetts temporarily blocked the National Institutes of Health (NIH) from cutting research funding in 22 states.
What Happened: On Friday, under updated guidelines, NIH said it would now <a target="_blank" href="https://grants.nih.gov/grants/guide/notice-files/NOT-OD-25-068.html" rel="noreferrer noopener">apply</a> a standard indirect cost rate of 15% to all new and existing grants, replacing the previous practice of negotiating separate rates for each grant.
Historically, NIH's average indirect cost rate has been around 27%–28%, with some institutions charging over 50% or even 60%.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41866438/donald-trumps-second-term-could-reshape-us-healthcare-system-with-major-impacts-on-affordable-care-act-and-medicare" rel="noreferrer noopener">Donald Trump's Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare</a>
In 2023, NIH awarded over $35 billion in research funding across nearly 50,000 grants. Of this, $26 billion went directly to research, while $9 billion covered indirect costs.
By implementing a 15% rate, NIH aligns more closely with private research funders. Many private foundations, including the Bill &amp; Melinda Gates Foundation, cap indirect costs at 10%–15%, while some do not cover indirect costs at all.
Why It Matters: NIH has a $48 billion budget and 27 institutes that fund critical research on diseases like <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/42222191/donald-trump-nominates-pandemic-critic-jay-bhattacharya-tapped-to-reshape-national-institutes-of-health-that-oversees-budget-of-48-billion" rel="noreferrer noopener">cancer and diabetes</a>. The funding cuts were to take effect on Monday, 10 February.
In a social media post, NIH <a target="_blank" href="https://x.com/NIH/status/1888004759396958263?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet&amp;mx=2" rel="noreferrer noopener">said</a> the change would save the federal government $4 billion annually. It said three schools that had charged more than 60% in indirect rates—Harvard University, Yale University, and Johns Hopkins University—had multibillion-dollar endowments.
A complaint <a target="_blank" href="https://coag.gov/app/uploads/2025/02/ECF-001-Complaint-Mass.-v.-NIH-1.pdf" rel="noreferrer noopener">filed</a> earlier on Monday argued that "Without relief from NIH's action, these institutions' cutting-edge work to cure and treat human disease will grind to a halt."
The lawsuit also mentioned, "In issuing the Rate Change Notice, the NIH has also acted beyond its statutory authority and has failed to promulgate the change using notice and comment rulemaking."
The lawsuit adds, "The Rate Change Notice is arbitrary and capricious in, among other ways, its failure to articulate the bases for the categorical rate cap of 15%, its failure to consider the grant recipients' reliance on their negotiated rates, and its disregard for the factual findings that formed the bases for the currently operative negotiated indirect cost rates."
The NIH action will "devastate critical public health research at universities and research institutions," the lawsuit claims.
The complaint alleges that the agency's action will result in layoffs, suspension of clinical trials, disruption of ongoing research programs, and laboratory closures.
Judge Angel Kelley of the U.S. District Court for the District of Massachusetts <a target="_blank" href="https://fingfx.thomsonreuters.com/gfx/legaldocs/gdpzkzwrwvw/02102025nih_order.pdf" rel="noreferrer noopener">issued</a> a temporary restraining order asking the 22 states to file a status report in 24 hours and again every two weeks to confirm the regular disbursement of the funds. The judge set a hearing for 21 February.
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iShares Dow Jones US Health Care Provides Index Fund

iShares Trust Dow Jones US Healthcare Sector Index Fund

PowerShares Dynamic Healthcare Sector Portfolio

US States Sue National Institutes Of Health Over $4 Billion Annual Cut In Biomedical Research Grant Budget

Goldman Sachs expects a gradual recovery in end-market growth throughout the year as the Tools and the contract research organizations (CROs) enter 2025 after underperforming in 2024.
Bioprocessing is anticipated to gain momentum as the year progresses, with instruments poised for recovery by mid-year, potentially achieving healthy growth rates by the fourth quarter. However, investor skepticism remains high following overly optimistic guidance in 2024.
Improved visibility, normalized supply chains, and stable ordering patterns suggest better conditions for 2025, although debates around large pharma spending are expected to dominate early-year discussions.
Goldman Sachs analyst Matthew Sykes is cautiously optimistic about a potential recovery in the Life Sciences Tools sector in 2025. However, investor interest in this area remains low.
The analyst writes that the health care sector saw the fastest pace of net buying in five months last week—except for segments like Life Sciences Tools &amp; Services.
This hesitation stems from repeated disappointments in market recovery, ongoing declines in revenue and earnings forecasts, and persistently high valuations.
Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) and Thermo Fisher Scientific Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) are scheduled to release their fourth-quarter 2024 <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">earnings next week</a>.
Sector allocations among traditional, long-only investors have slightly increased, which is a positive sign.
A BofA Securities&nbsp;report in December highlighted that the Life Sciences Tools sector struggled in <a target="_blank" href="https://www.benzinga.com/24/12/42490115/despite-higher-valuations-some-life-sciences-tools-stocks-create-good-opportunities-analyst" rel="noreferrer noopener">fiscal year 2024</a>.
Pharmaceutical and biotech companies' spending dropped after pandemic-related overspending, and demand in China stayed weak. This led some Life Sciences companies to lower their already-conservative fiscal year revenue forecasts as the year progressed.
For most of fiscal year 2024, Life Sciences company valuations remained higher than pre-COVID levels but declined after the U.S. elections. Looking ahead to fiscal year 2025, initial forecasts and management comments suggest a mixed outlook.
Over the past two years, hedge funds have driven most of the sector's activity, but their recent pullback, combined with mutual funds' growing interest, could pave the way for broader investor engagement—if the sector demonstrates sustainable recovery.
For this to happen, large biopharma companies, the sector's key customers, need to stabilize spending amid challenges like the Inflation Reduction Act and patent cliffs.
Increased R&amp;D investment would also be crucial. While M&amp;A could support this shift, their net impact is expected to be neutral.
However, M&amp;A activity may still encourage investment to replenish product pipelines for major pharmaceutical companies.
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Photo by MargJohnsonVA via Shutterstock

Goldman Sachs Predicts Gradual Recovery For Tools And Contract Research Sector In 2025, Stable Large Pharma Spending Key To Recovery

According to a report, U.S. healthcare spending grew by 7.5% to $4.9 trillion in 2023. The increase was fueled by higher enrollment in private health plans and expanded use of medical services, driven by legislative changes and post-pandemic rebounds in care utilization.
Healthcare spending accounted for 17.6% of the U.S. economy, outpacing GDP growth of 2.9%. Spending on retail prescription drugs <a target="_blank" href="https://www.healthaffairs.org/doi/full/10.1377/hlthaff.2024.01375" rel="noreferrer noopener">saw</a> the most significant rise, jumping 11.4% to $449.7 billion.
The report attributed this to increased use of medications for obesity and diabetes.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41866438/donald-trumps-second-term-could-reshape-us-healthcare-system-with-major-impacts-on-affordable-care-act-and-medicare" rel="noreferrer noopener">Donald Trump&#8217;s Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare</a>
The rapid growth in spending for drugs used to treat diabetes and obesity contributed to faster overall growth in retail prescription drug expenditures and private health insurance and Medicare spending growth.
Hospital care spending rose 10.4% to $1.5 trillion in 2023, marking the fastest growth since 1990. Hospital discharges increased by 1.6%, with Medicare beneficiaries driving higher outpatient service utilization.
Spending on physician and clinical services also climbed by 7.4% to $978 billion, with private insurance and Medicare patients contributing to this rise.
Enrollment in private health insurance grew by 1.6%, adding 3.3 million Americans.
Private insurance spending surged by 11.5%, reaching $1.5 trillion and accounting for 30% of national healthcare expenditures.
Medicare spending grew 8.1% to $1 trillion, representing 21% of total healthcare spending. Medicaid spending, however, grew more slowly at 7.9%, reflecting the end of the COVID-19 public health emergency.
The report also revealed that 92.5% of Americans had health insurance in 2023, up from 92.0% in 2022, underscoring the broader coverage expansion in recent years.
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Photo by MargJohnsonVA via Shutterstock

Your Healthcare Costs are Soaring! US Spending Reached $5 Trillion In 2023 with Major Increase in Obesity and Diabetes Drugs, Hospital Services

Eli Lilly And Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) has achieved a year-to-date (YTD) increase of&nbsp;32.11% as of Friday, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. This&nbsp;surge has had varied effects on several ETFs that hold significant stakes in the pharmaceutical giant. Several ETFs with substantial holdings in Eli Lilly have experienced varied performances during the same period.
What Happened:&nbsp;The&nbsp;iShares U.S. Pharmaceuticals ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) with a 20.33% allocation to Eli Lilly, reported a YTD gain of 10.89%. Meanwhile, the&nbsp;Roundhill GLP-1 &amp; Weight Loss ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZEM#NASDAQ">OZEM</a>), holding 15.86% in Eli Lilly, saw a modest YTD increase of 3.74%.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42438029/candel-therapeutics-prostate-cancer-therapy-hits-primary-goal-in-late-stage-study-stock-surges-over-100?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Candel Therapeutics Stock Surges Over 100%</a>
Conversely, the&nbsp;Horizon Kinetics Medical ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDX#NASDAQ">MEDX</a>), with Eli Lilly making up 16.06% of its portfolio, experienced a YTD decline of 1.56%. Similarly, the&nbsp;Amplify Weight Loss Drug &amp; Treatment ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THNR#NYSE">THNR</a>), with a 14.43% exposure to Eli Lilly, also saw its YTD returns decrease by 6.27%.
Lastly, the iShares U.S. Healthcare ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYH#NYSE">IYH</a>), which includes an 11.76% stake in Eli Lilly, recorded a YTD increase of 2.68%.
Buying $1000 In LLY vs. ETFs: If an investor had bought $1000 of LLY stock earlier this year, it would be worth $1,251 today based on a price of $782.35 for Eli Lilly at the time of writing. At the same time, IHE would have been worth $1100 based on a price of $67.11 for iShares US Pharmaceuticals ETF at the time of writing.
Why It Matters: Recently, the company announced a&nbsp;<a href="https://www.benzinga.com/general/biotech/24/12/42421676/eli-lilly-15b-buyback-faces-stiff-resistance-on-the-charts">massive $15 billion share buyback plan</a>&nbsp;and a 15% dividend increase. These strategic moves come as the company enjoys the success of its blockbuster drugs, Mounjaro and Zepbound, despite facing mixed technical signals on the charts.
Moreover,&nbsp;Eli Lilly&nbsp;has been heavily investing in its production capabilities. The company recently announced a&nbsp;<a href="https://www.benzinga.com/24/12/42370795/investments-in-eli-lillys-production-capabilities-reaches-23-billion-with-additional-3-billion-expansion-at-us-facility">$3 billion expansion</a>&nbsp;of its manufacturing facility in Kenosha County, Wisconsin. This expansion is part of a broader $23 billion investment to meet the growing demand for diabetes, obesity, and pipeline medicines, further solidifying its position in the pharmaceutical industry.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

MEDX

OZEM

Amplify ETF Trust Amplify Weight Loss Drug & Treatment ETF

THNR

Eli Lilly Stock Soars 34.42% YTD: A $1000 Investment Outpaces Returns From These ETFs Holding Mounjaro-Maker Shares

FDA commissioner Robert Califf&#8217;s <a target="_blank" href="https://www.benzinga.com/general/biotech/21/11/24301293/robert-califfs-speedy-confirmation-vote-as-fda-head-likely-delayed-see-why" rel="noreferrer noopener">second term is anticipated</a> to end in 2025, and all eyes are now on who will be the next to take the position after Donald Trump is elected president for the second time.
He was <a target="_blank" href="https://www.fda.gov/about-fda/fda-organization/robert-califf" rel="noreferrer noopener">elected</a> to head the agency in February 2022. Califf was briefly the agency&#8217;s commissioner under the Obama administration beginning in 2016.
At a conference <a target="_blank" href="https://www.youtube.com/live/hQ7rYiJTcmU" rel="noreferrer noopener">hosted</a> by the Friends of Cancer Research, Califf acknowledged the uncertainty President-elect Donald Trump&#8217;s return to the White House raises for the agency workforce.
He is &#8220;disappointed&#8221; about the election&#8217;s outcome. &#8220;I think we just don&#8217;t know what&#8217;s going to happen.&#8221;
At the Tuesday conference, Califf added, &#8220;The gist of this administration, from everything that&#8217;s been said, is that they want to change a lot of things, and how it gets changed depends on who gets appointed into key positions and how the various policies play out.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41866438/donald-trumps-second-term-could-reshape-us-healthcare-system-with-major-impacts-on-affordable-care-act-and-medicare" rel="noreferrer noopener">Donald Trump&#8217;s Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare</a>
Asked whether FDA employees are eying the exits, Califf said, &#8220;people are waiting to see.&#8221;
Asked to respond to Robert F. Kennedy Jr&#8217;s statements about clearing FDA groups focused on nutrition and other issues, Califf suggested the agency is limited in addressing issues with the American diet <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction" rel="noreferrer noopener">because of Congress</a>.
In an interview Califf said, &#8220;In times of change and chaos, there&#8217;s also opportunity,&#8221; he continued. &#8220;I will just comment, there&#8217;s a lot of things that I bet almost everyone in leadership positions in the health agencies would have liked to have changed but couldn&#8217;t because of the gridlock of various interests that made it difficult to change things.&#8221;
Callif said he believes the FDA is at &#8220;peak performance right now — and we&#8217;ll see what happens as the new team comes in.&#8221;
&#8220;From things that have been said, the change could happen internally or from external decisions made by the administration,&#8221; he said. &#8220;I just think we have to wait and see and have some faith that hard-working, high-quality people are still going to be in place and have support from — I hope — the external regulated community, which given the dynamics is likely to be the most important factor.&#8221;
While Califf hasn&#8217;t officially announced his departure from the FDA, he said today that &#8220;this is not the first time I&#8217;ve ridden out of town after an election.&#8221;
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Image via Adobe Stock

Regulations

FDA Commissioner Califf Candid on Trump's Impact: 'We Just Don't Know What's Going to Happen'

Robert Kennedy Jr. has disclosed President-Elect Donald Trump&#8217;s three-fold directive to him, aimed at transforming the nation&#8217;s health landscape.
What Happened: On Wednesday, Kennedy Jr. took to X to share the tasks Trump has assigned to him. He wrote that Trump asked him to do three things: clean up corruption in health agencies, restore evidence-based science, and end the chronic disease epidemic to make America healthy again.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Trump has asked me to do three things: 1. Clean up the corruption in our government health agencies. 2. Return those agencies to their rich tradition of gold-standard, evidence-based science. 3. Make America Healthy Again by ending the chronic disease epidemic. <a href="https://t.co/WHMOsD0CiI">pic.twitter.com/WHMOsD0CiI</a>
&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1854281809464529384?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/11/41741814/walgreens-agrees-to-100-million-settlement-over-alleged-deceptive-pricing-of-generic-drugs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Walgreens Agrees To $100 Million Settlement Over Alleged Deceptive Pricing Of Generic Drugs</a>
This announcement comes after Trump&#8217;s previous pledge to give Kennedy <a href="https://www.benzinga.com/news/24/10/41565423/trump-says-robert-kennedy-jr-can-run-wild-on-health-and-food-im-going-to-let-him-go-wild-on-the-medi">full authority over health</a>, food, and medicine issues if he secures a second term. The former President had expressed his intent to allow Kennedy to &#8220;run wild&#8221; on these matters, with the exception of oil.
Kennedy Jr. is known for his contentious views on vaccines and has also been know to speak out regularly on food additives. In the aftermath of the election, shares of pharmaceutical companies, particularly those associated with the COVID-19 vaccine, have slid.
On Wednesday Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and Modern Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) stocks hovered near their 52-week lows of $25.20 and $49.60 respectively. For the day, PFE ended 2.2% lower at $27.36, while MRNA dropped 2.8% to $51.81. The iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) fell 0.5% to $68.39 in a similar period.
Why It Matters: Kennedy&#8217;s new role and the tasks assigned to him align with Trump&#8217;s earlier statements. In a recent interview, Trump showed tentative support for Kennedy&#8217;s plan to <a href="https://www.benzinga.com/news/24/11/41704387/robert-kennedy-jr-says-he-will-advise-all-us-water-systems-to-remove-fluoride-on-day-1-of-trump-admi">remove fluoride from water</a>, a move aimed at improving public health. Kennedy, known for his health-related advocacies, stated that his administration would encourage all U.S. water systems to eliminate fluoride on its first day in office.
Furthermore, Kennedy had previously disclosed that he might be appointed by Trump to select leaders for <a href="https://www.benzinga.com/news/24/09/40931166/robert-kennedy-jr-trump-wants-him-to-help-pick-cdc-fda-and-nih-leaders-unravel-the-capture-of-agenci">key public health agencies</a>, including the Centers for Disease Control and Prevention, the Food and Drug Administration, and the National Institutes of Health. This latest announcement seems to confirm his involvement in these agencies, marking a significant shift in the country&#8217;s health policies.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

MRNA

Trump Has Asked Me To Do 3 Things, Says Robert Kennedy Jr.

The second-quarter results of the healthcare sector have been impressive, with earnings of 78.8% of the sector participants that have reported so far up 17.1% on 7.6% revenue growth. The earnings beat ratio of 85.7% and the revenue beat ratio of 75.5% are also assuring. Combining the actual results with the estimates for the still-to-report companies, the total earnings of the sector are expected to grow 16.6% on revenue growth of 8.5%.
Many industry bigwigs reported solid results, with some beating on earnings or revenues or both. However, the recent market rout has eroded some gains from the sector. As such, pharma ETFs have delivered mixed performances over the past month. iShares U.S. Pharmaceuticals ETF (ARCA:IHE), VanEck Vectors Pharmaceutical ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pph#NASDAQ">PPH</a>), SPDR S&amp;P Pharmaceuticals ETF (ARCA:XPH) and First Trust Nasdaq Pharmaceuticals ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftxh#NASDAQ">FTXH</a>) have gained 0.3%, 1.1%, 0.07%, and 0.4% respectively, while Invesco Pharmaceuticals ETF (ARCA:PJP) has shed 0.1% in a month.
Let&#39;s delve deeper into the earnings of some of the bigwigs:
<h3>Earnings in Focus</h3>
Johnson and Johnson 
Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) continued with its long streak of earnings beat and also outpaced revenue estimates. Earnings per share came in at $2.82, beating the Zacks Consensus Estimate of $2.71 and improving 10.2% from the year-ago quarter. Revenues grew 4.3% year over year to $22.45 billion and fell short of the Zacks Consensus Estimate of $22.38 billion. For 2024, Johnson &amp; Johnson maintained its revenue guidance of $88-$88.4 billion, indicating year-over-year growth of 4.7%-5.2%. It lowered adjusted earnings per share guidance from $10.57-$10.72 to $9.97-$10.07. 
Pfizer 
Pfizer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) topped estimates on both the top and bottom lines. It reported adjusted earnings per share of 60 cents, which beat the Zacks Consensus Estimate of 45 cents per share but declined 11% year over year. Revenues inched up 2% year over year to $13.28 billion and edged past the consensus mark of $13.13 billion. The U.S. drug giant raised its revenue guidance from $58.5-$61.5 billion to $59.5-$62.5 billion and adjusted earnings per share from $2.15-$2.35 to $2.45-$2.65 for 2024. 
Merck 
Merck (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) also topped earnings and revenue estimates. It posted earnings per share of $2.28, which surpassed the Zacks Consensus Estimate of $2.16. In the year-ago period, the company had incurred an adjusted loss of $2.06 per share. Revenues rose 79% year over year to $16.11 billion and edged past the consensus mark of $15.90 billion. Merck lifted the higher end of its revenue guidance from $63.1-$64.3 billion to $63.1-$64.4 billion but lowered the earnings per share guidance to $7.94-$8.04 from $8.53-$8.65. 
Bristol-Myers 
Bristol-Myers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) also reported better-than-expected results. It posted an earnings per share of $2.07, outpacing the Zacks Consensus Estimate of $1.64. Earnings came in higher than the year-ago earnings of $1.75. Revenues grew 9% year over year to $12.2 billion and edged past the Zacks Consensus Estimate of $11.5 billion. For 2024, Bristol-Myers now expects revenues to increase in the upper end of the low single-digit range versus the previous guidance of low single digits.&nbsp; It lifted its earnings per share guidance to 60-90 cents from 40-70 cents. 
Eli Lilly and Company 
Eli Lilly and Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) reported robust second-quarter 2024, beating earnings and revenue estimates. Earnings per share came in at $3.92, surpassing the Zacks Consensus Estimate of $2.64 and improving 86% from the year-ago number. Revenues rose 36% to $11.3 billion and edged past the estimated $9.83 billion. Eli Lilly increased its full-year outlook for the second time this year. It raised the revenue guidance to $45.4-$46.6 billion from $42.4-$43.6 billion and the adjusted earnings per share guidance to $16.10-$16.60 from $13.50-$14.00.
<h3>ETF Angle</h3>
iShares U.S. Pharmaceuticals ETF
iShares U.S. Pharmaceuticals ETF provides exposure to 36 U.S. companies that manufacture prescription or over-the-counter drugs or vaccines by tracking the Dow Jones U.S. Select Pharmaceuticals Index. The in-focus five firms are the top holdings in the basket, accounting for a combined 59.4% of the total assets, suggesting heavy concentration. iShares U.S. Pharmaceuticals ETF has $670.8 million in AUM and charges 39 bps in fees and expenses. It carries a Zacks ETF Rank #3 (Hold) with a High risk outlook. 
VanEck Vectors Pharmaceutical ETF
VanEck Vectors Pharmaceutical ETF follows the MVIS US Listed Pharmaceutical 25 Index and holds 26 stocks in its basket. The five firms collectively account for a 33.6% share in the fund&#39;s basket. The product has amassed $678.1 million in its asset base and charges 36 bps in annual fees. VanEck Vectors Pharmaceutical ETF carries a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
SPDR S&amp;P Pharmaceuticals ETF
SPDR S&amp;P Pharmaceuticals ETF provides exposure to pharma companies by tracking the S&amp;P Pharmaceuticals Select Industry Index. With AUM of $177.9 million, it holds 43 securities, with the in-focus firms making up about 4% share each. SPDR S&amp;P Pharmaceuticals ETF charges 35 bps in fees a year and has a Zacks ETF Rank #3 with a High risk outlook.
Invesco Pharmaceuticals ETF
Invesco Pharmaceuticals ETF offers exposure to companies that are principally engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types. It follows the Dynamic Pharmaceuticals Intellidex Index and holds 23 stocks in its basket, with the in-focus firms making up at least 5% share each. Invesco Pharmaceuticals ETF has AUM of about $283.8 million and charges 57 bps in fees and expenses. The ETF has a Zacks ETF Rank #3 with a High risk outlook.
First Trust Nasdaq Pharmaceuticals ETF
First Trust Nasdaq Pharmaceuticals ETF tracks the Nasdaq US Smart Pharmaceuticals Index, holding 50 securities in its basket. The in-focus five firms account for a combined 31.4% of the assets. FTXH has AUM of $18.3 million. First Trust Nasdaq Pharmaceuticals ETF charges 60 bps in annual fees and has a Zacks ETF Rank #3.
<a href="https://www.zacks.com/stock/news/2322190/pharma-etfs-in-focus-post-solid-q2-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2322190">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Large Cap

Guidance

Pharma ETFs in Focus Post Solid Q2 Earnings

The first-quarter results of the healthcare sector have been unimpressive, with earnings of 78% of the sector participants that have reported so far down 31.2% despite 4.4% revenue growth. The earnings beat ratio of 93.9% and the revenue beat ratio of 75.8% are assuring, though. Combining the actual results with the estimates for the still-to-report companies, the total earnings of the sector are expected to decline 25.1% despite revenue growth of 7.1%. 
However, many industry bigwigs reported solid results, with some beating on earnings or revenues or both. As such, pharma ETFs have delivered mixed performances over the past month. iShares U.S. Pharmaceuticals ETF (ARCA:IHE), VanEck Vectors Pharmaceutical ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pph#NASDAQ">PPH</a>), SPDR S&amp;P Pharmaceuticals ETF (ARCA:XPH) and First Trust Nasdaq Pharmaceuticals ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftxh#NASDAQ">FTXH</a>) have lost 3.7%,1.9%, 2.9%, and 3.1% respectively, while Invesco Pharmaceuticals ETF (ARCA:PJP) has added 0.8% in a month. 
Let&#39;s delve deeper into the earnings of some of the bigwigs:
<h3>Earnings in Focus</h3>
Johnson and Johnson 
Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) continued with its long streak of earnings beat but lagged revenue estimates. Earnings per share came in at $2.71, beating the Zacks Consensus Estimate of $2.64 and improving 12.4% from the year-ago quarter. Revenues grew 2% year over year to $21.38 billion and fell short of the Zacks Consensus Estimate of $21.4 billion. For 2024, Johnson &amp; Johnson revised its guidance from $88.2-$89.0 billion to $87.8-$88.6 billion, indicating year-over-year growth of 5.5%-6.0%. The adjusted earnings per share guidance was tightened from $10.55-$10.75 to $10.57 to $10.72. 
Pfizer 
Pfizer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) topped estimates on both the top and bottom lines. It reported adjusted earnings per share of 82 cents, which beat the Zacks Consensus Estimate of 56 cents per share but declined 33% year over year. Revenues declined 20% year over year to $14.88 billion and fell short of the consensus mark of $13.96 billion. The U.S. drug giant reaffirmed its revenue guidance of $58.5-$61.5 billion and raised its adjusted earnings per share to $2.15-$2.35 from $2.05-$2.25 for 2024. 
Merck 
Merck (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) also topped earnings and revenue estimates. It posted earnings per share of $2.07, which surpassed the Zacks Consensus Estimate of $1.94 and increased 48% from the year-ago earnings. Revenues rose 9% year over year to $15.78 billion and edged past the consensus mark of $15.37 billion. Merck lifted the lower end of its revenue guidance. It now expects revenues in the range of $63.1-$64.2 billion from $62.7-$64.2 billion, while earnings per share are expected in the range of $8.53-$8.65 versus the prior expectation of $8.44-$8.59. 
Bristol-Myers 
Bristol-Myers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) also reported better-than-expected results. It posted a loss per share of $4.40, narrower than the Zacks Consensus Estimate of a loss of $4.53 per share. In the year-ago quarter, BMY posted adjusted earnings per share of $2.05. Revenues grew 5% year over year to $11.86 billion and edged past the Zacks Consensus Estimate of $11.46 billion. For 2024, Bristol-Myers expects revenues to increase in the low single digits while earnings per share are expected in the band of 40 cents to 70 cents, down from the earlier estimate of $7.10-$7.40, to reflect the dilutive impact of recent acquisitions and collaborations. 
Eli Lilly and Company 
Eli Lilly and Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) posted mixed first-quarter 2024 earnings, beating earnings estimates but lagging on revenues. Earnings per share came in at $2.58, surpassing the Zacks Consensus Estimate of $2.53 and improving 59% from the year-ago number. Revenues rose 26% to $8.77 billion but fell short of the estimated $8.81 billion. Eli Lilly raised the 2024 revenue guidance to $42.4-$43.6 billion from $40.4-$41.6 billion, while the adjusted earnings per share guidance was upped to $13.50-$14.00 from the prior projection of $12.20-$12.70.
<h3>ETF Angle</h3>
iShares U.S. Pharmaceuticals ETF 
iShares U.S. Pharmaceuticals ETF provides exposure to 34 U.S. companies that manufacture prescription or over-the-counter drugs or vaccines by tracking the Dow Jones U.S. Select Pharmaceuticals Index. The in-focus five firms are the top holdings in the basket, accounting for a combined 59% of the total assets, suggesting heavy concentration. iShares U.S. Pharmaceuticals ETF has $654.8 million in AUM and charges 40 bps in fees and expenses. It carries a Zacks ETF Rank #2 (Buy) with a High risk outlook. 
VanEck Vectors Pharmaceutical ETF 
VanEck Vectors Pharmaceutical ETF follows the MVIS US Listed Pharmaceutical 25 Index and holds 26 stocks in its basket. The five firms collectively account for a 33.2% share in the fund&#39;s basket. The product has amassed $512.7 million in its asset base and charges 36 bps in annual fees. VanEck Vectors Pharmaceutical ETF carries a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. 
SPDR S&amp;P Pharmaceuticals ETF 
SPDR S&amp;P Pharmaceuticals ETF provides exposure to pharma companies by tracking the S&amp;P Pharmaceuticals Select Industry Index. With AUM of $197.9 million, it holds 41 securities, with the in-focus firms making up about 4% share each. SPDR S&amp;P Pharmaceuticals ETF charges 35 bps in fees a year and has a Zacks ETF Rank #3 with a High risk outlook. 
Invesco Pharmaceuticals ETF 
Invesco Pharmaceuticals ETF offers exposure to companies that are principally engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types. It follows the Dynamic Pharmaceuticals Intellidex Index and holds 24 stocks in its basket, with the in-focus firms making up at least 5% share each. Invesco Pharmaceuticals ETF has AUM of about $270.2 million and charges 57 bps in fees and expenses. The ETF has a Zacks ETF Rank #3 with a High risk outlook. 
First Trust Nasdaq Pharmaceuticals ETF 
First Trust Nasdaq Pharmaceuticals ETF tracks the Nasdaq US Smart Pharmaceuticals Index, holding 50 securities in its basket. The in-focus five firms account for a combined 32.2% of the assets. FTXH has AUM of $19.9 million. First Trust Nasdaq Pharmaceuticals ETF charges 60 bps in annual fees and has a Zacks ETF Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2269782/a-look-at-pharma-etfs-post-q1-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2269782">To read this article on Zacks.com click here.</a>

A Look at Pharma ETFs Post Q1 Earnings

As April comes to a close, it&#8217;s time to compile the rankings for the top-performing sector and industry exchange-traded <a href="https://www.benzinga.com/etfs">funds of the month.</a>
Taking a broader look at the stock market, the S&amp;P 500 Index, represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains.
Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), experienced a 3.5% decline.
Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) slipping by 4.5%.
Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), plummeted by over 6%, marking their worst performance since October 2023.
Overall, it has been a challenging month for the stock market, primarily due to inflation surprises surpassing expectations. This has led to a recalibration of market expectations regarding potential Federal Reserve rate cuts.
Additionally, complex global geopolitical tensions have emerged, notably between Israel and Iran, alongside the ongoing issue in the Gaza Strip.
May is anticipated to start with a crucial event as investors await the Federal Reserve Open Market Committee <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">(FOMC) meeting on Wednesday. </a>
While no interest rate changes are expected, all eyes will be on Fed Chair Jerome Powell&#8216;s remarks to assess the Fed&#8217;s stance in response to recent inflation surprises.
Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
<h2 class="wp-block-heading">Performance Of Sector ETFs In April 2024</h2>
At the sector level, only the utilities sector managed to avoid losses for the month, rising by 2.1%.
The largest stock contributors to the utilities&#8217; performance in April are NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) which showed monthly gains between 4% and 8%. 
Energy stocks remained broadly stable, while the other nine S&amp;P 500&#8217;s sectors showcased losses.
Real estate experienced the worst performance, down by over 7%, dragged down by its high sensitivity to interest rates, as Treasury yields increase across the board during the month. 
Following real estate, the technology and healthcare sectors also showed poor performance in April.
<h4 class="wp-block-heading">April&#8217;s Best And Worst Sector ETFs: Utilities Lead, Real Estate Lags</h4>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>April 2024 performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>2.06%</td>
</tr>
<tr>
<td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>0.01%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-1.11%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-3.23%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-3.68%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-3.85%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-4.13%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-4.24%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-4.78%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-7.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 2:50 p.m. EDT</figcaption></figure>
<h2 class="wp-block-heading">Performance Of Industry ETFs In April 2024</h2>
Based on the industry ETF list provided by BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) iShares, only five out of the 25 industries managed to report gains in April. Among them, miners did well across the board, with silver, copper, and gold mining stocks reporting robust gains. 
Standout contributors to the mining industry&#8217;s outperformance in April were Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), up over 20%, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), up 14%, Anglo American plc (OTCPK: AAUKF), up over 40%
Energy producers also managed to end the month in the green.
On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI Global Silver and Metals Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>12.11%</td>
</tr>
<tr>
<td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td>
<td>9.50%</td>
</tr>
<tr>
<td>iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>5.93%</td>
</tr>
<tr>
<td>iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td>
<td>2.81%</td>
</tr>
<tr>
<td>iShares MSCI Global Energy Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td>
<td>2.46%</td>
</tr>
<tr>
<td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td>
<td>-1.16%</td>
</tr>
<tr>
<td>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td>
<td>-1.66%</td>
</tr>
<tr>
<td>iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td>
<td>-3.30%</td>
</tr>
<tr>
<td>iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td>
<td>-3.74%</td>
</tr>
<tr>
<td>iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td>
<td>-3.88%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-4.37%</td>
</tr>
<tr>
<td>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td>
<td>-4.40%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td>
<td>-4.79%</td>
</tr>
<tr>
<td>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td>
<td>-5.11%</td>
</tr>
<tr>
<td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-5.38%</td>
</tr>
<tr>
<td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</td>
<td>-5.45%</td>
</tr>
<tr>
<td>iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>)</td>
<td>-5.57%</td>
</tr>
<tr>
<td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td>
<td>-5.75%</td>
</tr>
<tr>
<td>iShares Global Timber &amp; Forestry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOOD#NYSE">WOOD</a>)</td>
<td>-6.20%</td>
</tr>
<tr>
<td>iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)</td>
<td>-6.76%</td>
</tr>
<tr>
<td>iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>)</td>
<td>-7.12%</td>
</tr>
<tr>
<td>iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>)</td>
<td>-7.23%</td>
</tr>
<tr>
<td>iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>)</td>
<td>-8.34%</td>
</tr>
<tr>
<td>iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)</td>
<td>-9.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 3:15 p.m. EDT</figcaption></figure>
Now read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>
Image generated using artificial intelligence via Midjourney.

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FILL

iShares Dow Jones US Broker Dealers Index Fund

iShares Dow Jones US Insurance Index Fund

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ILIT

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Select Sector SPDR-Consumer Discretionary

April Showers On Wall Street:  Miners, Utilities Emerge As Bright Spots In Gloomy Market

The race for new drugs to fight obesity and associated diabetes and cardiovascular diseases heated up on Monday after positive results from trials by Zealand Pharma were published, pushing the <a href="https://www.benzinga.com/topic/weight-loss">Danish company&#8217;s shares 30% higher</a>.
Zealand Pharma&#8217;s survodutide drug showed positive results in 83% of patients in Phase 2 trials being tested for a liver disease caused by excess fat cells called MASH, the company <a href="https://www.zealandpharma.com/media/zealand-news/">announced</a> on Monday.
&#8220;Survodutide has demonstrated efficacy in people with obesity, and statistically significant results in MASH suggest the potential to lead to clinically meaningful benefits across the cardiovascular, renal, and metabolic spectrum,&#8221; the announcement said.
The blockbuster impact of drugs such as Novo Nordisk&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) Ozempic and Eli Lilly And Company&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Mounjaro, have driven dozens of companies to research and develop rival weight-loss treatments and further announcements of breakthroughs in the fast-developing market are expected in 2024. 
<h2 class="wp-block-heading">Impact Of Weight-Loss Drugs On Q4 Results</h2>
Currently, they are the main two players. Thanks to its Mounjaro and Zepbound treatments, Eli Lilly crushed analysts estimates for fourth-quarter earnings, <a href="https://www.benzinga.com/markets/equities/24/02/36955955/eli-lilly-soars-on-diabetes-and-obesity-drug-boom-projects-20-revenue-increase-in-2024">reported</a> earlier this month, with a 19% increase in earnings per share to $2.49, beating Street expectations of $2.22.
Upgrades soon followed with analysts from Cantor Fitzgerald and Morgan Stanley raising their price targets on the stock.
Novo Nordisk&#8217;s <a href="https://www.benzinga.com/general/biotech/24/01/36865688/with-bumper-33b-sales-novo-nordisk-forecasts-double-digit-2024-earnings-growth-boosts-lower-dose-">results</a> were similarly impressive, with its Wegovy and Ozempic offerings helping fourth-quarter sales to soar 37% to $9.5 billion, compared with expectations of $8.82 billion.
<h2 class="wp-block-heading">Market To Become More Crowded</h2>
Health and medical information research company Stat, <a href="https://www.statnews.com/2023/09/12/obesity-weight-loss-mounjaro-drug-development/">suggests</a> that around 70 weight loss drugs are currently in development to catch the exploding market — including from large and well-established pharma companies such as AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>).
This suggests the early runners, Novo Nordisk and Eli Lilly, will find the space becoming more crowded in the months to come as many newly-developed treatments receive fast-track drug designations from global regulators.
How can they respond? They can certainly make hay while the sun shines — indeed, Novo recently <a href="https://www.benzinga.com/general/biotech/24/02/36931734/ozempic-maker-strikes-11b-deal-with-catalent-as-it-rushes-to-meet-massive-weight-loss-drug-demand">announced the acquisition</a> of Catalent Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>), a New Jersey-based manufacturing facility, so that it can scale up production of Wegovy and Ozempic within their biggest market.
Meanwhile, Eli Lilly has turned its focus to the marketing side of its blockbuster treatments, announcing in January the launch of a new digital health-care platform, LillyDirect, that will offer drugs directly to consumers who have been prescribed the medications. 
Shares in both Novo and Eli Lilly have outperformed broader measures of pharmaceutical stocks. Novo is up 19% so far this year, while Eli Lilly has gained 33%.
The iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>), an exchange traded fund that tracks U.S. pharma companies, is up 12.5% in 2024.
Now Read: <a href="https://www.benzinga.com/markets/equities/24/02/37312557/hallelujah-for-shale-why-warren-buffett-likes-american-oil-companies">&#8216;Hallelujah&#8217; For Shale: Why Warren Buffett Likes American Oil Companies</a>
Photo: Shutterstock

Price Target

CTLT

Eli Lilly, Novo Nordisk's Strategies Against New Weight-Loss Drug Competitors

The fastest easing of financial conditions in history could leave markets offsides if the expected ideal economic scenario fails to materialize, Bank of America warned in a note released on Tuesday.
The bank&#8217;s analysts observed that investors recently adopted a conflicting stance, anticipating more than five Federal Reserve rate cuts and maintaining an excessively <a href="https://www.benzinga.com/topic/inflation">optimistic view on inflation.</a>
Bank of America advised investors to be wary of the bond market&#8217;s relatively dovish position compared to the Federal Reserve. It also raised concerns that Federal Reserve rate cuts in the current year might perpetuate inflationary pressures.
Here are 10 surprises that could affect markets in 2024, according to the bank&#8217;s latest Research Investment Committee (RIC) report: 
<ol>
<li>High Bond Taxes Shifting Focus to Stocks: Investors, initially drawn to the allure of 5% yields in Treasury securities, might pivot to equities due to favorable tax treatments. BofA notes the distinction between a 37% tax on Treasury coupon payments and a 20% tax on long-term stock holdings. </li>
<li>Stable Corporate Landscape Despite 5% Rates: Despite higher default rates, the robustness of corporate debt structures, alongside substantial cash reserves and private credit availability, suggests a low likelihood of a widespread bankruptcy wave. </li>
<li>IPO Market Set for a Comeback: After a sluggish 2023, favorable macroeconomic conditions and interest rate cuts could rejuvenate the IPO market, benefiting large banks, as tracked by the SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>), and exchanges. </li>
<li>Japan: The Dark Horse of Developed Markets: Masashi Akutsu, BofA&#8217;s Strategist, predicts a 13% upside for Japanese equities, monitored through the iShares MSCI Japan Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>), driven by corporate reforms and attractive valuations compared to U.S. stocks. </li>
<li>Geopolitical Risks Weighing on Tech Giants: The reliance of major tech firms like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) on Taiwanese chipmakers aligns their performance closely with Taiwan Semiconductor Manufacturing Company Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>). Amid rising geopolitical risks in the region, BofA suggests a shift to more balanced equity indices, such as the Invesco S&amp;P 500 Equal Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>). </li>
<li>Biotech and Pharma Poised for Growth: Following a 2023 dominated by weigh-loss drugmakers, advancements in Alzheimer&#8217;s research could propel the pharmaceutical sector, as tracked via the iShares U.S. Pharmaceutical ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>), to new heights. </li>
<li>Rationalizing Energy Investments: With renewable energy stocks underperforming, investors might turn to more traditional energy sources, recognizing the value in undervalued oil, gas, and nuclear sectors. </li>
<li>The Fragile Path to Low Inflation: Market consensus for a smooth inflation reduction could be upended by various global events, potentially leading to higher inflation scenarios. BofA warns that <a href="https://www.benzinga.com/economics/macro-economic-events/24/01/36451978/wti-crude-oil-prices-soar-on-new-years-kickoff-as-tensions-escalate-in-red-sea-be">disruptions in the Red Sea</a> represent a dangerous threat to the inflation&#8217;s perfect landing scenario that markets are pricing in. </li>
<li>Demand for Premium on Government Debt: Fading confidence in the U.S. government&#8217;s budget sustainability might lead investors to seek higher yields for long-term government bonds. </li>
<li>Renewed Affection for Free Markets: As regulatory burdens remain high, the upcoming U.S. election could spark hopes for a more business-friendly environment, boosting investor confidence in equities.</li>
</ol>
Read Now: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36557192/el-salvadors-bitcoin-bet-pays-off-sovereign-bonds-skyrocket-200-challenging-imfs-warnings">El Salvador&#8217;s Bitcoin Bet Pays Off, Sovereign Bonds Skyrocket 200%, Challenging IMF&#8217;s Warning</a>

Macro Economic Events

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Economics

Rydex ETF Trust Rydex S&P Equal Weight ETF

Bank Of America Predicts 10 2024 Market Surprises: From Booming IPOs To Japanese Equity Surge

지난주 도널드 트럼프 대통령이 약가 인하 <a href="https://www.benzinga.com/general/health-care/25/05/45384935/trump-again-promises-lower-drug-prices-by-cutting-out-middlemen-like-unitedhealth-cvs-will-it-work-this-time" target="_blank" rel="noopener">행정명령</a>에 서명한 후, 전문가들은 제약사들이 가격 결정력이 떨어지는 가운데 마진 축소 가능성에 직면해 있는 가운데 처방약급여관리업체(PBM)가 가장 큰 타격을 받을 수 있다.
무슨 일 있었나: LPL 파이낸셜의 주식 리서치 책임자 토마스 쉽은 <a href="https://www.benzinga.com/news/25/05/45389750/trump-claims-drug-price-crackdown-could-slash-your-prescription-costs-by-59-but-will-big-pharma-fight-it-again" target="_blank" rel="noopener">제약사</a>들이 국내에서 가격 인하 압력에 직면하고 있다며, "가격 결정력을 약화시켜 마진을 압박할 가능성이 있으며, 제약사 주가에 상당한 역풍을 제공할 것"이라고 말했다.
그러나 그는 의약품 유통을 촉진하고 제약사와 협상을 통해 처방 비용을 낮추는 "중간자" 또는 PBM이 제약사로부터 리베이트를 받거나 "스프레드 프라이싱"과 같은 불투명한 가격 책정 관행으로 인해 조사를 받고 있다고 설명한다.
"PBM은 약국에 건강보험 가입자에게 청구하는 약값보다 적은 금액을 지불한다.&#8221;
트럼프가 서명한 또 다른 4월 15일 <a href="https://www.benzinga.com/markets/25/04/44866755/mark-cuban-says-this-trump-healthcare-order-could-save-hundreds-of-billions" target="_blank" rel="noopener">행정명령</a>은 PBM 수수료에 대한 투명성 강화를 촉구하고 이러한 중개업체의 역할을 재평가할 것을 요구했다.
CVS헬스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), 시그나 그룹(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), 유나이티드헬스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)가 가장 큰 규모의 PBM 회사들이다.
또한 토마스 쉽은 PBM 비용 절감은 예상되지만 직접적인 가격 통제는 미국 중심의 제약사에게 장기적인 위험을 초래할 수 있다고 강조했다. 그는 투명성을 통해 PBM 마진 침식이 제조업체의 더 큰 가격 인하를 막을 수 있는지 여부를 알 수 있을 것이라고 했다.
"이러한 행정명령이 어떻게 시행될지에 대해서는 많은 의문이 남아 있지만, 초기 뉴스 흐름이 소화되고 나면 그 순효과는 PBM보다는 제약사에 덜 해로운 것으로 보인다.&#8221;
"그렇긴 하지만 미국인들이 의약품을 구매하는 방식을 바꾸는 데는 오랜 시간이 걸릴 것이다. 그 과정에서 소비자 직접 판매를 지원하려는 노력은 이를 주도하는 제조사와 유통을 위해 협력하는 제조사 모두를 지원할 것이다.&#8221;
왜 중요한가: 한편, 억만장자 투자자이자 &#8216;샤크 탱크&#8217;로 유명한 마크 큐반은 <a href="https://www.benzinga.com/personal-finance/25/04/44674382/mark-cuban-says-big-insurance-companies-and-pbms-control-healthcare-costs-everyone-has-to-kiss-their-a-and-accept-the-complications" target="_blank" rel="noopener">가격이 아닌 리베이트를 협상한다</a>고 설명하면서 엑스(X) 게시물에서 PBM을 "부정한 돈벌이"라고 불렀다.
"그들은 리베이트를 협상한다. 가격이 아니라 리베이트를 협상하는 것이다. 실제로 대형 PBM이 리베이트 협상의 95퍼센트 이상을 통제하고 있다. 대형 브랜드 제약사는 다른 제약사와 협상할 수 없다. 내 생각에 그것은 부정한 돈벌이다.&#8221;
4월 15일의 명령은 가격 책정의 투명성을 요구하지만, 큐반은 4조 9천억 달러에 달하는 의료비 지출의 30%가 대형 PBM이 만들어내는 가격 왜곡과 간접 보험회사에 기인한다고 강조한다.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
One of the great lies the big PBM industry tells us is that they are needed to negotiate lower prices. 
It&#39;s a lie. They negotiate rebates. Not prices. In fact, the big PBMs control more than 95pct of the rebate negotiations. Big brand Pharma companies can&#39;t negotiate with…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1923880717420986860?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
2025년에 성과를 낸 위의 PBM 운영 회사는 다음과 같다.
<figure class="wp-block-table is-style-stripes">
<table class="has-fixed-layout">
<tbody>
<tr>
<td>주식</td>
<td>연초 대비 성과</td>
<td>1년 성과</td>
</tr>
<tr>
<td>CVS헬스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>)</td>
<td>41.41%</td>
<td>8.94%</td>
</tr>
<tr>
<td>시그나 그룹 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)</td>
<td>16.92%</td>
<td>-3.73%</td>
</tr>
<tr>
<td>유나이티드헬스 그룹 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td>-42.14%</td>
<td>-43.56%</td>
</tr>
</tbody>
</table>
</figure>
투자자들이 고려할 수 있는 몇 가지 제약 관련 ETF는 다음과 같다.
<figure class="wp-block-table is-style-stripes">
<table class="has-fixed-layout">
<tbody>
<tr>
<td>제약 ETF</td>
<td>연초 대비 성과</td>
<td>1년 성과</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-0.28%</td>
<td>-4.66%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-1.20%</td>
<td>-2.03%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-3.45%</td>
<td>-0.83%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-4.83%</td>
<td>-1.70%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>11.10%</td>
<td>1.65%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-6.51%</td>
<td>-6.89%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-23.63%</td>
<td>-24.07%</td>
</tr>
</tbody>
</table>
</figure>
SPDR S&amp;P 500 ETF 트러스트 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)와 인베스코 QQQ 트러스트 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)는 각각 S&amp;P 500 지수와 나스닥 100 지수를 추적하며 지난 금요일에 상승 마감했다. SPY는 0.63% 상승하여 594.20달러, QQQ는 0.44% 상승하여 521.51달러에 마감했다.
사진 제공: Rawpixel.com / Shutterstock.com
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일요일(11일) 도널드 트럼프 대통령은 전면적인 행정 명령을 통해 <a href="https://www.benzinga.com/markets/25/04/44945973/trump-administration-considers-lowering-us-drug-prices-to-international-levels-report" target="_blank" rel="noreferrer noopener">처방약 가격을 인하하겠다</a>고 공언했다.



무슨 일 있었나: 트럼프 대통령은 트루스 소셜(Truth Social)을 통해 새로운 행정명령에 서명할 계획을 발표했다. 대통령은 이번 행정명령이 "최혜국대우"(MFN) 가격 정책에 따라 "미국은 전 세계에서 가장 낮은 가격을 지불하는 국가와 동일한 가격을 지불&#8221;하는 것을 보장할 것이라고 밝혔다.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="966" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22.png" alt="" class="wp-image-911175" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22.png 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22-190x300.png 190w" sizes="(max-width: 612px) 100vw, 612px" /></figure>



도널드 트럼프 대통령 트루스 소셜 계정 스크린샷



트럼프는 처방약 가격이 "거의 즉시, 30%에서 80%까지" 떨어질 것이라고 덧붙이며 이번 조치가 "우리나라 역사상 가장 중대한 행정명령 중 하나"라고 말했다.



이에 대해 X의 한 사용자는 "약값에 대한 트럼프의 매우 중요한 게시물이 정말 실현 가능하다면 좋을 것 같다"며 회의적인 반응을 보였다. &#8220;모든 민주당원들이 동의할 것이라고 생각한다&#8230; 하지만 트럼프가 자랑하는 대부분의 공약이 그렇듯, 실제로 실현될 수도 없고 실현되지도 않을 허황된 약속이다.&#8221;



<a href="https://www.benzinga.com/markets/25/04/44866755/mark-cuban-says-this-trump-healthcare-order-could-save-hundreds-of-billions" target="_blank" rel="noreferrer noopener">억만장자 기업가</a>이자 코스트 플러스 드럭스(Cost Plus Drugs) 설립자인 마크 큐반은 바로 이 시점에 끼어들면서, 트럼프의 계획이 야심적이라는 점을 인정하면서도 보다 실현 가능한 길을 강조했다. 



"그가 가격을 강제할 수 있을지는 모르겠지만 투명성을 강제할 수 있다면 도움이 될 것이다.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I dont know if he can force the price , but he can force transparency , and that will help. He did it w hospitals Force transparency of contracts, pricing , rebates , claims and a lot could change Biggest thing he could do is encourage brand pharma to sell to cost plus drugs… <a href="https://t.co/vkz3Q2IFkn">https://t.co/vkz3Q2IFkn</a>&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1921710702743417149?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



왜 중요한가: 지난달 트럼프 대통령은 의약품 가격 투명성과 메디케어 비용 절감을 목표로 하는 <a href="https://benzinga.com/government/regulations/25/04/44851905/trumps-new-order-targets-drug-pricing-transparency-and-medicare-cost-reduction" target="_blank" rel="noreferrer noopener">여러 부분으로 구성된 행정명령</a>을 발표했다. 이달 초에는 식품의약국에 국내 의약품 제조 시설에 대한 승인을 신속히 처리하도록 지시하는 <a href="https://www.benzinga.com/news/25/05/45232993/trump-orders-fda-to-fast-track-us-drug-production-as-tariff-threat-looms-on-imported-medicines-cites" target="_blank" rel="noreferrer noopener">또 다른 행정명령</a>에 서명했다.



Invesco Pharmaceuticals ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)와 iShares U.S. Pharmaceuticals ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)는 지난 한 달 동안 각각 2.61%와 2.81% 상승했다.



주가 움직임: 지난 금요일(9일) 정규장에서&nbsp;노보 노디스크(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>)는 1.42% 상승한 65.77달러에 마감했고 0.20% 상승했으며, 일라이 릴리(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)와 화이자(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)는 각각 2.25%, 1.15% 하락했다. 존슨앤드존슨(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)도 0.93% 소폭 하락 마감했다.



사진 제공: PeopleImages.com &#8211; Yuri A On Shutterstock.com



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트럼프 "처방약 가격 30~80% 인하할 행정명령에 서명할 것"···최혜국대우 약가 정책 가동

도널드 트럼프 대통령은 수요일(9일) 상호관세를 90일 동안 일시 중단했지만, 나중에 집무실에서 기자들과의 대화에서 제약 회사들이 관세에 직면할 것이라고 확인했다.
무슨 일 있었나: 제약주 랠리는 목요일 시장이 하락세로 전환되면서 단기간에 그쳤다. 한 기자가 트럼프 대통령에게 제약 주식에 관세를 부과할 것이냐는 질문을 하자, 트럼프 대통령은 이렇게 답했다. "그렇게 할 것이다. 왜냐하면 우리는 그들이 다시 돌아오기를 원하기 때문이다.&#8221;
"코로나19를 겪으면서 우리는 미국에서 의약품을 만들지 않는다는 사실을 깨달았다. 그래서 큰 깨달음을 얻었다.&#8221;
트럼프는 코로나19의 비상 사태를 언급하며 제약 회사들이 미국에서 의약품을 생산하기를 원한다고 말했다.
"우리는 약을 구하기 위해 중국으로 가야 했고, 다른 곳으로 가야 했고, 약을 구하지 못했다. 우리가 그들이 떠나도록 내버려 두었기 때문이다&#8230;제약 회사에 관세를 부과할 것이고, 모두 돌아오고 싶어 할 것이다.&#8221;
트럼프의 관세 확정 이후 목요일 제약주는 급락했다.
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td>제약주</td>
<td>목요일 주가 변동</td>
<td>2025년 변동</td>
<td>지난 1년 변동</td>
</tr>
<tr>
<td>일라이 릴리 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</td>
<td>-4.35%</td>
<td>-7.35%</td>
<td>-5.09%</td>
</tr>
<tr>
<td>애브비 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</td>
<td>-3.14%</td>
<td>-2.92%</td>
<td>3.99%</td>
</tr>
<tr>
<td>브리스톨 마이어스 스퀴브 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</td>
<td>-6.10%</td>
<td>-11.15%</td>
<td>2.73%</td>
</tr>
<tr>
<td>리제네론 파마슈티컬스 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</td>
<td>-5.26%</td>
<td>-23.60%</td>
<td>-40.63%</td>
</tr>
<tr>
<td>화이자 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</td>
<td>-3.87%</td>
<td>-18.87%</td>
<td>-18.03%</td>
</tr>
<tr>
<td>길리어드 사이언스 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</td>
<td>-3.66%</td>
<td>10.36%</td>
<td>47.71%</td>
</tr>
<tr>
<td>머크 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</td>
<td>-5.32%</td>
<td>-21.80%</td>
<td>-38.53%</td>
</tr>
<tr>
<td>암젠 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td>-3.33%</td>
<td>8.54%</td>
<td>4.23%</td>
</tr>
<tr>
<td>존슨앤드본슨 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>-1.51%</td>
<td>3.24%</td>
<td>-0.07%</td>
</tr>
</tbody>
</table>
</figure>
왜 중요한가: 90일간의 상호 관세 유예에도 불구하고 10%의 글로벌 기본 관세와 125%의 중국 관세, 그리고 철강 및 알루미늄, 자동차, 자동차 부품에 대한 25%의 부문별 관세는 그대로 유지된다. 여기에 더해 트럼프 대통령은 곧 제약사에 대한 관세를 발표할 수 있음을 시사했다.
영향을 받을 수 있는 제약 산업 관련 상장지수펀드는 다음과 같다.
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td>제약 ETF</td>
<td>2025년 변동</td>
<td>지난 1년 변동</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-7.02%</td>
<td>-7.51%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-7.04%</td>
<td>-6.08%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-10.13%</td>
<td>-4.37%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-14.05%</td>
<td>-11.45%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>2.88%</td>
<td>0.35%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-11.54%</td>
<td>-10.18%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-41.35%</td>
<td>-43.86%</td>
</tr>
</tbody>
</table>
</figure>
가격 움직임: 목요일 하락 후 수요일 반등에 이어 나스닥 100 지수는 전고점인 22,222.61포인트보다 17.46% 하락했다. S&amp;P 500 지수는 전고점인 6,147.43포인트 대비 14.31% 하락했고, 다우존스 지수는 52주 최고치인 45,073.63포인트 대비 12.16% 하락했다.
각각 S&amp;P 500 지수와 나스닥 100 지수를 추종하는 SPDR S&amp;P 500 ETF 신탁(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)과 인베스코 QQQ 신탁 ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)는 목요일에 하락 마감했다. SPY는 524.58달러로 4.38% 하락했고, QQQ는 446.18달러로 4.25% 하락했다.
사진 제공: Shutterstock
Benzinga Pro의 독점 뉴스 및 도구로 수익률을 높이세요.
독점 속보 및 스캐너와 같은 Benzinga Pro의 강력한 도구 세트로 다른 트레이더보다 우위를 점하세요. <a href="https://www.benzinga.com/pro/register?t=be2bewe5mibe3bz3&amp;utm_source=bz-kor">여기를 클릭</a>하여 14일 무료 체험을 시작하세요.

<a href="https://www.benzinga.com/topic/ken-griffin" target="_blank" rel="noopener">켄 그리핀</a>의 <a href="https://www.benzinga.com/topic/citadel-securities" target="_blank" rel="noopener">헤지펀드 시타델(Citadel)</a>이 GSK PLC(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)에 3억 5,000만 파운드(3억 9,000만 달러)의 공매도 베팅을 걸었다. 이는 영국 제약 대기업 GSK에 대한 10년래 가장 큰 베팅이라고 파이낸셜타임스가 <a href="https://www.ft.com/content/6520c6eb-4a30-4909-9c86-1b6b2e471743" target="_blank" rel="noopener">보도했다</a>.
영국 금융감독청(Financial Conduct Authority)이 공개한 이 포지션은 GSK 발행 주식의 0.51%에 해당한다.
<h3>GSK의 랠리, 현실 검증에 직면</h3>
GSK 주가는 지난 한 달 동안 20억 파운드(약 25억 달러)의 자사주 매입과 HIV 및 암 치료제 판매 호조에 힘입어 8.20% 상승했다. 하지만 여전히 동종 업계에 뒤처져 있다.
지난 5년 동안 GSK 주가는 17.53% 하락한 반면 S&amp;P 500 제약 지수는 45% 급등했다. 시타델의 공매도는 특히 HIV 약물이 특허 절벽에 가까워지면서 GSK의 장기적인 파이프라인에 대한 회의적인 신호를 보낸다.
<h3>헤지펀드, 애널리스트들의 의견 엇갈려</h3>
헤지펀드가 GSK를 두고 움직인 것은 이번이 처음은 아니다. 2021년에는 행동주의 투자자 엘리엇 매니지먼트가 경영진 교체를 추진했다.
한편 JP모건 애널리스트들은 GSK의 최근 실적과 가이던스를 "긍정적"으로 보고 있지만 자사주매입 시점에 대해서는 의문을 제기하고 있다. 바클레이즈는 "예상치 못한 일"이라고 말했고, 제프리스는 "잘한 일"이라고 평가했다.
<h3>투자자를 위한 시사점</h3>
시타델의 GSK 베팅으로 인해 주가 변동성이 커질 수 있음으로 주목해야 할 것이다.
GSK의 도전 과제는 엇갈린 베팅으로 이어졌지만, GSK의 위험 없이 대형 제약사에 노출되기를 원하는 투자자는 일라이 릴리(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)와 화이자(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) 같은 제약업계 선두 주식에 주목할 수 있다.
대안으로는 iShares U.S. Pharmaceuticals ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)와 SPDR S&amp;P Pharmaceuticals ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)를 통해 분산된 노출을 제공받을 수 있다.
이미지: Shutterstock
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켄 그리핀의 헤지펀드 시타델, 제약사 GSK에 대규모 공매도 베팅

4월이 끝나가면서 <a href="https://www.benzinga.com/etfs" target="_blank" rel="noopener">이번 달</a>의 최고 성과 부문 및 업계 상장지수펀드(ETF) 순위를 집계할 때가 되었다.
주식 시장을 더 폭넓게 살펴보면 SPDR S&amp;P 500 ETF Trust(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)로 대표되는 S&amp;P 500 지수는 약 3% 하락하며 4월을 하락세로 마감했다. 이로써 5개월 연속 상승세가 끝났다.
마찬가지로, Invesco QQQ Trust(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)가 추적하는 기술주 중심의 나스닥 100 지수는 3.5% 하락했다.
대형주 지수 중에서 우량주는 SPDR Dow Jones Industrial Average ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)가 4.5% 하락하는 등 저조한 성과를 보였다.
iShares Russell 2000 ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)로 대표되는 소형주는 6% 이상 급락하여 2023년 10월 이후 최악의 실적을 기록했다.
전반적으로 이번 달은 예상을 뛰어넘는 인플레이션으로 인해 주식시장에 어려운 달이었다. 이로 인해 연방준비제도(연준)의 금리 인하 가능성에 대한 시장 기대가 재조정되었다.
또한 현재 진행 중인 가자지구 문제와 함께 특히 이스라엘과 이란 간의 복잡한 글로벌 지정학적 긴장이 대두되고 있다.
5월은 투자자들이 수요일 연준의 공개시장위원회(FOMC) <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">회의</a>를 기다리면서 중요한 행사로 시작될 것으로 예상된다.
금리 변동은 없을 것으로 예상되지만 최근 인플레이션에 대한 대응으로 연준의 입장을 평가하기 위한 제롬 파월 연준 의장의 발언에 모든 ​​관심이 쏠릴 것이다.
<h2 class="wp-block-heading">2024년 4월 섹터 ETF의 성과</h2>
섹터수준에서는 유틸리티 섹터만 이번 달 손실을 피해 2.1% 상승했다.
4월에 유틸리티 섹터의 가장 큰 주식 공헌자는 넥스트에라 에너지(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), 서던 컴퍼니(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), 도미니언 에너지(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) 및 NRG 에너지 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)로 4%에서 8% 사이의 월간 상승을 보여주었다.
에너지 주식들은 전반적으로 안정적이었으며, S&amp;P 500의 다른 9개의 섹터들은 모두 손실을 보여주었다.
부동산은 한 달 동안 국채 수익률이 전반적으로 상승함에 따라 금리에 대한 높은 민감도로 인해 7% 이상 하락하는 최악의 실적을 기록했다.
부동산 다음으로, 기술 및 헬스케어 섹터 역시 4월에는 좋지 않은 성과를 보였다.
<h4 class="wp-block-heading">4월의 최고와 최악의 섹터 ETF: 유틸리티 우위, 부동산 부진</h4>
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<thead>
<tr>
<th>Sector</th>
<th>April 2024 performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>유틸리티 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>2.06%</td>
</tr>
<tr>
<td>에너지 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>0.01%</td>
</tr>
<tr>
<td>생필품 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-1.11%</td>
</tr>
<tr>
<td>산업 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-3.23%</td>
</tr>
<tr>
<td>생활소비재 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-3.68%</td>
</tr>
<tr>
<td>금융섹터 셀렉트 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-3.85%</td>
</tr>
<tr>
<td>소재 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-4.13%</td>
</tr>
<tr>
<td>통신서비스 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-4.24%</td>
</tr>
<tr>
<td>기술 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-4.78%</td>
</tr>
<tr>
<td>건강관리 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>부동산 셀렉트 섹터 SPDR 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-7.83%</td>
</tr>
</tbody>
</table><figcaption class="wp-element-caption">2024년 4월 30일 오후 2시 50분 EDT 기준</figcaption></figure>
<h2 class="wp-block-heading">2024년 4월 산업 ETF의 성과</h2>
블랙록(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>)의 iShares가 제공하는 업계 ETF 목록에 따르면 25개 산업 중 5개 산업만이 4월에 상승세를 기록했다. 그중 광업주들은 은, 구리, 금 광산주가 강력한 상승세를 보이는 등 전반적으로 좋은 성적을 거두었다.
4월에 광업 산업의 개수의 존재의 의미있는 기여자들은 팬 아메리칸 실버 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)가 20% 이상 상승, 뉴몬트(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)이 14% 상승, 앵글로 아메리칸(OTCPK:AAUKF)이 40% 이상 상승 등이었다.
에너지 생산업체들도 상승 마감할 수 있었다.
업계 순위에서 가장 낮은 부분에 있는 주택 건설업체, 운송, 생명공학 주식, 디지털 인프라 및 부동산은 모두 4월에 7%에서 9.6% 사이의 손실을 보고했습니다.
On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.
산업순위의 하위권에서는, 4월에 홈빌더, 운송, 바이오 기술 주식, 디지털 인프라 및 부동산이 각각 7%에서 9.6% 사이의 손실을 보고 있다.
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<thead>
<tr>
<th></th>
<th>성과</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI 글로벌 실버 및 금속 채광업 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>12.11%</td>
</tr>
<tr>
<td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td>
<td>9.50%</td>
</tr>
<tr>
<td>iShares MSCI 글로벌 금괴 채굴업 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>5.93%</td>
</tr>
<tr>
<td>iShares MSCI 글로벌 금속 및 광업 생산업체 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td>
<td>2.81%</td>
</tr>
<tr>
<td>iShares MSCI_Global_Energy_Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td>
<td>2.46%</td>
</tr>
<tr>
<td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td>
<td>-1.16%</td>
</tr>
<tr>
<td>한미파이 체인지 트럼프 월가 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>아이쉐어스 레지던셜 앤 멀티섹터 부동산 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td>
<td>-1.66%</td>
</tr>
<tr>
<td>iShares 리튬 채광 및 생산업체 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td>
<td>-3.30%</td>
</tr>
<tr>
<td>iShares U.S. 브로커-딜러 및 유가증권 거래소 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td>
<td>-3.74%</td>
</tr>
<tr>
<td>iShares U.S. 금융 서비스 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td>
<td>-3.88%</td>
</tr>
<tr>
<td>iShares 확장된 기술 섹터 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-4.37%</td>
</tr>
<tr>
<td>iShares 반도체 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td>
<td>-4.40%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td>
<td>-4.79%</td>
</tr>
<tr>
<td>iShares U.S. 보험 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td>
<td>-5.11%</td>
</tr>
<tr>
<td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-5.38%</td>
</tr>
<tr>
<td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:&lt;</td>
</tr>
</tbody>
</table>
</figure>

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iShares U.S. Pharmaceutical ETF

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