Key Highlights

  • The fund holds 55 healthcare companies selected through active research.
  • Moderna, Gilead Sciences and Danaher are among the largest positions.
  • Net asset value is $37.27, after a one-day gain of $0.90, or 2.47%.
  • The net expense ratio is 0.55%, and distributions are paid semi-annually.

Healthcare innovation spans drug developers, diagnostics firms and medical device makers, and the iShares Health Innovation Active ETF (NYSEARCA:BMED) offers an actively managed way to hold companies in that space. Figures in this article are current to November 9, 2026. The fund seeks to maximize total return by investing in innovative and emerging healthcare companies through fundamental research. Shares trade on NYSE Arca and have been listed since September 2020.

Fund Fact

Detail

Exchange and ticker

NYSE Arca: BMED

Fund inception

September 29, 2020

Net assets

$14.9 million

Net asset value

$37.27

Daily NAV change

+$0.90 (+2.47%)

Expense ratio (gross / net)

0.77% / 0.55%

30-day SEC yield

0.36%

Distribution frequency

Semi-annual

Number of holdings

55

Portfolio Composition

The portfolio spans drug developers, life science tools and medical devices. Moderna accounts for about 6.3% of market value, Gilead Sciences 5.7% and Danaher 5.1%. AbbVie, Thermo Fisher Scientific and Edwards Lifesciences also rank among the leading positions.

Because the fund is actively managed, its holdings reflect the team's research rather than a fixed index. Cash and Money Market positions form a sizable share of the portfolio, at about 6% of market value.

Trading Activity and Scale

The net asset value rose $0.90 in the latest session, a gain of 2.47%. Average Daily Volume is about 4,300 shares, and shares outstanding total 400,000. The 30-day median bid-ask spread of 0.23% is wider than in many larger healthcare funds, so trading costs are worth considering.

The fund's small net asset base of about $14.9 million means it is thinly traded. The premium to NAV was 0.10 in recent figures, indicating shares traded close to the value of underlying holdings.

Costs, Income and Risks

The gross expense ratio is 0.77%, with a fee Waiver reducing the net figure to 0.55%. Distributions are paid semi-annually, and the 30-day SEC Yield of 0.36% reflects a minimal income focus.

Healthcare companies are exposed to government regulation, drug pricing, clinical trial outcomes and product obsolescence. Because the fund is actively managed, holdings can change more often than in index-based funds, and there is no guarantee it will meet its objective.

Final Word

The iShares Health Innovation Active ETF offers an actively managed route into healthcare companies focused on innovation, with a portfolio that spans drugs, tools and devices. Its active structure, net expense ratio and small asset base define its profile. Investors will weigh the fund's sector focus and trading characteristics against their broader healthcare allocation.