Invesco Biotechnology & Genome ETF

Invesco Biotechnology & Genome ETF (PBE) is an index fund that holds 30 U.S. biotechnology and genome companies picked by the Dynamic Biotech & Genome Intellidex Index. Its money is spread fairly evenly, so as of July 31, 2026, a mid-size company like CareDx (5.0%) had nearly the same weight as Amgen (5.2%) and Regeneron (5.5%). It charges 0.59% a year. That is above the 0.52% average of similar funds and well above the 0.19% of Invesco's own IBBQ.

• Over the year to Oct 27, 2026, PBE returned +38.6%, 6th of 9 among similar funds.
• Its 5-year annualized return was +6.8%.
• Its worst full calendar year was 2022 (-10.8%); its best was 2025 (+24.8%).
• The deepest fall in its price history was 37.8% (Feb 8, 2021 to Jun 14, 2022), recovered by Nov 26, 2025.

As of Jul 31, 2026, the fund held 30 securities; the ten largest made up 46.2% of assets. It also reported 17.93% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Jul 31, 2026, investors added a net $5.9M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.38%, +7.97%, -0.16%.

PBE tracks the Dynamic Biotech & Genome Intellidex Index, which ICE Data Indices, LLC compiles and maintains. The index holds 30 U.S. companies that research, develop, make or sell biotech products. Some are drug developers. Others provide outsourced services or make lab tools such as instruments, reagents and chemicals. As of June 30, 2026, company sizes ranged from $688.3 million to $195.0 billion in market value. The fund uses "full replication," which means it buys every stock in the index in the same proportions.

As of July 31, 2026, the largest positions were Regeneron (5.5%), Amgen (5.2%), CareDx (5.0%), Vertex (5.0%) and Royalty Pharma (4.9%), and the top 10 made up 46.2% of the fund. The fund is "non-diversified." That means the law lets it put more money into a few companies than a typical fund can, so one stock's swings can move the share price more. That report also showed cash equal to about 18% of assets. This appears to be collateral from securities lending (lending shares to other investors for a fee) rather than money left uninvested.

The fund trades only when the index changes. It won't sell a stock that is doing badly unless the index drops it. Portfolio turnover was 103%, which is about the same as replacing the whole portfolio once in a year. Frequent trading can raise the fund's trading costs.

• PBE charges 0.59% a year, versus an average of 0.52% for the similar funds below (6th of 9, cheapest first).
• Of that, 0.5% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $738 over 10 years (assuming a 5% annual return).

PBE is a concentrated, non-diversified bet on 30 biotech stocks, and it has had deep drops that took years to recover.

PBE could add targeted exposure to drug and gene research companies. These don't always move with the wider market: the fund's beta, a measure of how much it moves with the market, was 0.6 for the year to October 27, 2026. But it can fall hard on its own. It lost 23.03% in 2016. From February 8, 2021, to June 14, 2022, it dropped 37.8%, and it didn't regain that peak until November 26, 2025, about 41 months later. In the 2022 bear market it fell 27.1% and took about 26 months to recover. Its daily price history doesn't reach back to 2008 or the early-2020 crash, though it returned 25.5% for 2020 as a whole. Anyone who has to sell shares during a slump like these would lock in losses.

The yield was 1.32% as of October 27, 2026, paid quarterly. Costs are 0.59% a year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.