Finally there is First Trust’s NYSE ARCA Biotech Index ETF (FBT). The fund rebalances quarterly, initially holding equal weightings in each stock. Currently the fund has 20 stocks, with Human Genome Sciences being its top holding because the stock has gained more than the other holdings. In fact, Human Genome was up 228% on July 20th, pushing the fund up 11% from the previous day’s open. One potential downfall of this fund is that it rebalances once a quarter, restricting the fund from locking in profits on winners and using the funds to invest in undervalued stocks.