By Christiana Sciaudone
Investing.com -- A new fund aims to generate gains from stakes in biotech companies that are engaged in the testing and treatment of infectious diseases, including the world's current scourge, Covid-19.
The exchange traded fund, with the ticker symbol GERM, closed up 5.2% on Tuesday since it started trading on June 18. ETF Managers Group, which created the fund, said new reports show that the human vaccine market worldwide is expecting annual compound growth rate of 11.2% between 2016 and 2024, when it should be valued at $72.5 billion.
There are currently more than 9 million cases of coronavirus in the world, and almost half a million people have died from it. The U.S. has the most cases, followed by Brazil.
The ETFMG Treatments, Testing and Advancements ETF holds U.S.-listed companies and seeks to provide results that correspond to the price and yield performance of the Prime Treatments, Testing and Advancements Index. That index is a reference measure to track event-driven news and long-term trends of companies engaged in developing treatments and vaccines, or diagnostic technology, in the fight against infectious diseases.