Biotech-based exchange-traded fund (ETF) iShares Biotechnology ETF (IBB) has rallied 26.1% over the past six months (as of Oct. 27, 2025), outperforming SPDR S&P 500 ETF Trust (SPY) (up 24.4%). Year to date, IBB has risen 18.2% versus SPY’s 17.2% gain.The performance marks a sharp turnaround in 2025. Note that the MSCI USA Pharmaceuticals, Biotechnology and Life Sciences Index (USD) offered muted returns of 3.74% in 2024 and 0.97% in 2023. The returns were too shallow, given the 25.1% and 27.1% returns offe ...