This currency-hedged ETF looks to track the performance of Nasdaq Global, ex-Australia, Healthcare Index and as such holds well-known names such as United Health, Johnson & Johnson, Eli Lilly & Co. and Pfizer inc. The issue we have here is over the last 5/6-monmths our stance has switched from bullish to neutral to bullish hence it’s a definite option to fund other purchases in the weeks ahead.
- We had expected the Healthcare Sector to embrace the pullback in bond yields, it hasn’t and as such “the reason for the position” has gone.
MM is considering “scratching” our DRUG position in the coming weeks.
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