The US equity market rallied this Monday following a surge of M&A activity across the tech, telecom, and biotech sectors, along with growing optimism a COVID-19 vaccine could be distributed by the end of this year. ETFs exposed to biotechnology stocks jumped by an average of 4.18% yesterday. This rebound brings the one-month cumulative performance close to breakeven, at -1.45%, although the last thirty days have seen outflows of $475M in this sector. Year-to-date, the 12 ETFs of the biotechnology segment have gained 9.76% on average while investors have added $1.17 Bn of net assets.
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