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BIB Fund Description
The ProShares Ultra NASDAQ Biotech provides 2x daily exposure to a modified market-cap-weighted index of biotechnology and pharmaceutical companies listed on NASDAQ.
BIB FactSet Analytics Insight
BIB is a popular leveraged play on the NASDAQ Biotechnology Index, which is also tracked in unlevered form by the hugely popular iShares' IBB, and is heavily focused on Nasdaq's biotechnology and pharmaceutical firms with a large-cap bias. The fund gains its 2x leveraged exposure to the index through swap agreements with multiple counterparties, and rebalances its exposure daily. Like all geared funds that rebalance daily, BIB is meant for short-term trading, since compounding effects over the long term could create vast differences from expected returns—for good or for ill. BIB has been around since April 2010 and is well established, with healthy assets, which puts any closure risk to rest. Yet traders should be cautious: daily volume is strong, but spreads and volatility can be high, likely reflecting the volatile underlying assets.
BIB FactSet Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of BIB. BIB is rated a 5 out of 5.