Chairman Dan Wiener joined CNBC’s “ETF Edge” to discuss the slumping medical sector. Health Care Select Sector SPDR fund and iShares Dow Jones US Health Care ETF respectively dropped 2% and 5% this past month as a result of rising drug prices, uncertainty related to the Affordable Care Act and Senator Bernie Sanders’ recent “Medicare-for-All” proposal. Dan noted that Johnson & Johnson and Pfizer carry heavy weight in large health care ETFs—currently representing around 15% of combined holdings. As a result, these sector funds suffer when either of these stocks declines.
