SPDR S&P Biotech ETF

Equal weighting is what separates XBI from every other big biotech fund. State Street's SPDR S&P Biotech ETF tracks the S&P Biotechnology Select Industry Index, which rebalances all holdings toward equal size instead of letting Amgen-scale giants dominate, so small and mid-cap drug developers drive returns. That design makes it the market's favorite proxy for speculative biotech risk appetite: clinical trial wins, FDA decisions and M&A waves hit the fund harder than cap-weighted rivals, and drawdowns run deeper too. Live since 2006 with billions under management and an options market of its own, it is a staple for both sector bets and hedges. The expense ratio stays a modest 0.35 percent, and the portfolio holds well over a hundred names at any time.

On MyRWA, XBI trades tokenized across 10 on-chain venues - see the listings below.