SPDR S&P Biotech ETF (XBI)
Total Assets Under Management: $1 billion
Expense Ratio: 0.35%
Another option in the biotech ETF universe is the cheaper SPDR S&P Biotech ETF (XBI), which boasts an expense ratio of just 0.35%.
For better or for worse, the SPDR S&P Biotech ETF is a smaller fund than the IBB. It has $1 billion in net assets, less than half the number of holdings and a much smaller average market cap for those biotech stocks.
The holdings in this completely pure biotech ETF boast an average market cap around $3 billion and are pretty evenly distributed. No holding makes up more than 3%.