ETF Evaluator:
ALPS Medical Breakthroughs ETF (SBIO)
Follow This ETF
(as of Jul 31)
Best Performing in Health Over the Last Year
| 177.8% | Virtus LifeSci Biotech Clinical Trls ETF (BBC) |
| 114.6% | ALPS Medical Breakthroughs ETF (SBIO) |
| 91.7% | State Street® SPDR® S&P® Biotech ETF (XBI) |
| 83.9% | F/m Emerald Life Sciences Innovation ETF (LFSC) |
| 79.5% | iShares Neuroscience and Healthcare ETF (IBRN) |
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Risk
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ETF Details
ALPS Medical Breakthroughs ETF Overview
ALPS Medical Breakthroughs ETF (SBIO) is a passively managed Sector Equity Health exchange-traded fund (ETF). ALPS launched the ETF in 2014.
The investment seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, the S-Network® Medical Breakthroughs Index.
The fund employs a "passive management" - or indexing - investment approach designed to track the performance of the underlying index. It will normally invest at least 80% of its net assets in securities that comprise the underlying index. The underlying index is comprised of small and mid-cap stocks of biotechnology companies that have one or more drugs in either Phase II or Phase III of the U.S. Food and Drug Administration clinical trials.
About ALPS Medical Breakthroughs ETF (SBIO)
There are 2 members of the management team with an average tenure of 6.76 years: Ryan Mischker (2015) and Charles Perkins (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US 1000 TR USD index with a weighting of 100% and S-Network Medical Breakthroughs TR USD index with a weighting of 100%. ALPS Medical Breakthroughs ETF has 109 securities in its portfolio. The top 10 holdings constitute 29.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ALPS Medical Breakthroughs ETF is part of the Equity global asset class and is within the Sector Equity ETF group. ALPS Medical Breakthroughs ETF has 9.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 90.4% There is 9.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ALPS Medical Breakthroughs ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $190 million in total assets, which is below the $1 billion average for the Health category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SBIO Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ALPS Medical Breakthroughs ETF expense ratio is average compared to funds in the Health category. ALPS Medical Breakthroughs ETF has an expense ratio of 0.50%, which is 4% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ALPS Medical Breakthroughs ETF has a portfolio turnover rate of 58%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Health category.
Recently, in the month of June 2026, ALPS Medical Breakthroughs ETF returned 18.7%, which earned it a grade of A, as the Health category had an average return of 8.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ALPS Medical Breakthroughs ETF has a trailing yield of 0.00%, which is below the 1.12% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ALPS Medical Breakthroughs ETF Grades
Year to date, the ETF has returned 26.3%, 16.1 percentage points better than the category, which translates into a grade of A. The fund has returned 114.6% over the past year (grade of A), 28.5% over the past three years (grade of A) and 6.5% per year over the past five years (grade of A) and 11.9% per year over the past 10 years (grade of A).
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SBIO Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SBIO Return (NAV) | 18.7% | 23.5% | 114.6% | 28.5% | 6.5% | 11.9% |
| SBIO Return (Price) | 18.8% | 23.5% | 115.0% | 28.6% | 6.5% | 12.0% |
| NAV +/- Price Return | -0.063% | -0.033% | -0.439% | -0.117% | -0.060% | -0.046% |
| Health Avg | 8.7% | 13.9% | 37.6% | 10.6% | 1.5% | 9.5% |
| SBIO Grade (NAV) | A | A | A | A | A | A |
| +/- Category (NAV) | 10.0% | 9.6% | 77.0% | 17.9% | 4.9% | 2.5% |
| SBIO Tax-Cost Ratio | na | na | 0.0% | 0.5% | 0.3% | 0.3% |
SBIO Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SBIO Return (NAV) | 26.3% | 54.2% | 4.3% | 8.2% | -27.9% | -17.5% | 21.2% | 49.9% | -11.2% | 45.0% | -27.7% |
| SBIO Return (Price) | 26.2% | 55.1% | 3.8% | 8.7% | -28.1% | -17.5% | 21.2% | 50.3% | -11.7% | 45.6% | -27.8% |
| NAV +/- Price Ret | -0.001% | 0.015% | -0.109% | 0.061% | 0.008% | -0.000% | -0.002% | 0.9% | 4.6% | 1.4% | 0.7% |
| Health Avg | 10.1% | 21.8% | 0.1% | 2.2% | -16.3% | 4.3% | 30.5% | 25.4% | -1.5% | 26.5% | -10.2% |
| SBIO Grade (NAV) | A | A | B | A | F | F | C | A | F | A | F |
| +/- Category | 16.1% | 32.5% | 4.2% | 6.0% | -11.6% | -21.8% | -9.3% | 24.5% | -9.7% | 18.5% | -17.5% |
| Risk Measures | |
| Beta: | 0.95 |
| R-Squared: | 18% |
| Standard Deviation: | 28.2% |
| Category Risk Index: | 1.41 |
| Category Risk Rating: | High |
| Total Risk Index: | 2.32 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 190 Mil |
| Share Class Assets: | $ 190 Mil |
| Turnover: | 58.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US 1000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.3 years | |||
| Average Tenure: 6.8 years | |||
| Managers (Year): Mischker Ryan (2015), Perkins Charles (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 109 |
| % in Top 10 Holdings: | 29.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.6% |
Portfolio Allocation |
|
| Domestic Stock: | 90.4% |
| Foreign Stock: | 9.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ALPS |
| Phone Number: | 866-759-5679 |
| Website: | www.alpsfunds.com |
| Inception Date: | December 30, 2014 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.52% |
