The State Street SPDR S&P Biotech ETF (XBI) was launched on January 31, 2006, and is a passively managed exchange traded fund designed to offer broad exposure to the Healthcare - Biotech segment of the equity market.An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.Sector ETFs are also funds of convenience, offering many ways to gain low risk ...