BlackRock launched a new thematic ETF on the New York Stock Exchange on Friday, the iShares Neuroscience and Healthcare ETF (IBRN), which the firm said is the first ETF focused on neuroscience and the growth and innovation related to the treatment of neurological diseases.
The fund, with a 0.47% expense ratio, seeks to track the investment results of an index designed to measure U.S. and non-U.S. companies in the neuroscience sphere. Its benchmark is the NYSE FactSet Global Neuro Biopharma and MedTech Index.
"Neurological and mental health diseases are among the most prevalent and destructive health conditions in the world, but innovations in neuroscience are leading to an acceleration of medical breakthroughs and treatments," Jeff Spiegel, head of iShares megatrend, international and sector ETFs at BlackRock, said in a statement.
"Through IBRN, investors can gain exposure to those companies leading these advancements across the theme's entire value chain," Spiegel added.
