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Despite some volatility along the way, biotechnology stocks have significantly outperformed the S&P 500 Index over the past couple years, a trend that began in earnest after the surprise results of the 2016 elections. Since then (11/8/2016 – 1/31/2019), the First Trust NYSE Arca Biotechnology Index Fund (FBT) has posted a cumulative return of 60%, outperforming the S&P 500 Index by 28%. Below is an update to an article we wrote last year on some of the trends in the biotechnology industry that we believe may contribute to continued outperformance looking forward.
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