What Is the SBIO ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The ALPS Medical Breakthroughs ETF (SBIO) is a thematic ETF that invests in small and mid-cap biotech companies with drug pipelines in FDA Phase 2 and Phase 3 clinical trials. Its key selection factors are high growth potential driven by drug-development momentum, high volatility, and differences in dividends and management fees.
SubscribeWhat Is the ALPS Medical Breakthroughs ETF?
The fund tracks an index of small and mid-cap biotech companies that hold drug candidates in FDA Phase 2 or Phase 3 clinical trials. It uses rules-based inclusion of stocks within a set market-cap range, giving concentrated exposure to the late-stage drug development theme.
It suits investors who want to focus on drug-development momentum and the high-risk, high-return growth theme within healthcare.
It is a passive (index-tracking) ETF managed by ALPS.
How Does the ALPS Medical Breakthroughs ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Late-Stage Clinical Trial Biotech Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Semiannual |
| Dividend Frequency | Annual |
| Issuer | ALPS |
| Total Expense Ratio | 0.50% |
The fund selects small and mid-cap biotech stocks with at least one drug in Phase 2 or Phase 3 trials, using a rules-based approach. Under the index methodology, holdings must meet market-cap range and clinical-stage requirements, and the portfolio is refreshed through periodic rebalancing.
- Focused selection of stocks with late-stage clinical pipelines
- Rules-based portfolio centered on small and mid-cap biotech companies
ALPS Medical Breakthroughs ETF Size and Costs (AUM and Management Fees)
Assets under management (AUM) stand at $192.8M, and the total expense ratio is 0.50% per year.
Compared with broad biotech ETFs, it is more narrowly concentrated in late-stage small and mid-cap stocks, so volatility tends to be high.
ALPS Medical Breakthroughs ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeReturns are heavily influenced by clinical trial results and regulatory approval events, which makes performance quite volatile. The whole sector tends to move together depending on the interest rate environment and biotech investor sentiment.
Money tends to flow in when biotech sentiment improves and flow out during risk-averse periods. As a small and mid-cap thematic ETF, its fund flows fluctuate more than those of broad core ETFs.
ALPS Medical Breakthroughs ETF Pros and Cons
This thematic ETF offers concentrated exposure to drug-development momentum and sizable growth potential, but it also carries clinical failure and volatility risks.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products to the ALPS Medical Breakthroughs ETF
In the comparison table, XBI is an equal-weighted ETF in the same biotech theme and serves as a comparison benchmark, while VHT and XLV are broad ETFs that extend exposure across the entire healthcare sector. For broad biotech exposure, you can also consider IBB; for a genomics and innovative drug theme, ARKG; and for short-term leveraged bets, LABU (3x).
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 XLV | State Street Health Care Select Sector SPDR ETF | $188.88 | +0.3% | $50.5B | 0.08% | 1.35% | +28.3% |
 VHT | Vanguard Health Care ETF | $348.81 | +0.2% | $21.4B | 0.09% | 1.32% | +26.9% |
 XBI | State Street SPDR S&P Biotech ETF | $155.06 | -1.2% | $10.5B | 0.35% | 0.35% | +40.9% |
 IYH | iShares U.S. Healthcare ETF | $79.13 | +0.1% | $4.8B | 0.37% | 1.01% | +27.7% |
 IHI | iShares U.S. Medical Devices ETF | $58.07 | -0.8% | $4.1B | 0.37% | 0.45% | -6.0% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 OABI | OmniAb Inc | - | $5.10 | -3.8% | $743.9M | - | - |
| NVO | Novo Nordisk ADR | - | $40.70 | -1.6% | $136.2B | 10.3 | 4.31% |
 KYMR | Kymera Therapeutics Inc | 0.05% | $136.64 | -1.6% | $11.7B | - | - |
 ALKS | Alkermes plc | 0.04% | $46.47 | +0.7% | $7.8B | - | - |
ALPS Medical Breakthroughs ETF Investor Checkpoints
Here are the points to review before investing in SBIO. Because this ETF focuses on the clinical drug-development theme, it is wise to thoroughly check its volatility, costs, concentration in small and mid-cap biotech stocks, and currency effects in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over a long holding period | In line with thematic ETFs |
| 📊 Holdings Concentration | Trend in the tilt toward small and mid-cap biotech | High concentration |
| 🧪 Clinical Events | Impact of clinical and regulatory schedules of major holdings | Needs checking |
| 💱 Exchange Rate | Impact on returns converted to KRW | Unhedged |
Clinical failures and regulatory events are the main drivers of short-term volatility. Because of its tilt toward small and mid-cap biotech, the fund can fall further than core ETFs during risk-averse periods.
It is a thematic option suited to investors who want to focus on late-stage drug-development momentum. To reduce volatility, you can consider the broad healthcare ETFs VHT and XLV, and for wider biotech exposure, IBB.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 23, 2026.
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