Oportunidades em ETFs de Biotecnologia: Cinco escolhas de small-cap que valem a pena acompanhar em 2025

Exchange-traded funds have revolutionized how investors access the biotech sector. Rather than betting on individual companies, biotech ETFs enable market participants to gain diversified exposure across numerous firms through a single investment instrument. This approach significantly reduces concentration risk—if one biotech company within the fund faces setbacks, the portfolio impact remains manageable. Below we examine five small-cap biotech ETFs selected based on assets under management (AUM) below US$100 million as of October 7, 2025.

Sector-Focused Approach: Oncology Exposure

The Tema Oncology ETF (NASDAQ:CANC) stands out with AUM of US$82.42 million, launched in August 2023. This fund delivers exposure to biotech firms specializing in cancer treatments, encompassing CAR-T cell therapies and bispecific antibody technologies. With 51 holdings—over half classified as small- to mid-cap—the portfolio maintains tight diversification. Leading positions include Revolution Medicines (NASDAQ:RVMD) at 6.29 percent, Eli Lilly and Company (NYSE:LLY) at 5.47 percent, and Genmab (NASDAQ:GMAB) at 5.32 percent.

Clinical-Stage Focus: Development-Oriented Strategy

The ALPS Medical Breakthroughs ETF (ARCA:SBIO) operates with US$95.57 million in AUM since its December 2014 inception. This fund targets small- and mid-cap biotech firms advancing drugs through Phase II or Phase III FDA clinical trials, maintaining portfolio companies with market capitalizations between US$200 million and US$5 billion. The fund holds 102 positions, with approximately 40 percent invested in small- and micro-cap stocks. Cytokinetics (NASDAQ:CYTK) leads at 3.62 percent weighting, followed by Merus (NASDAQ:MRUS) at 3.51 percent and Avidity Biosciences (NASDAQ:RNA) at 3.43 percent.

Leveraged Long Exposure: Bullish Positioning

For investors with bullish biotech outlooks, the ProShares Ultra NASDAQ Biotechnology (NASDAQ:BIB) offers leveraged access with US$62.42 million AUM. Operating since April 2010, this fund delivers twice-daily long exposure to the NASDAQ Biotechnology Index. Spanning 260 holdings, top positions include Vertex Pharmaceuticals (NASDAQ:VRTX) at 5.05 percent, Amgen (NASDAQ:AMGN) at 5.01 percent, and Gilead Sciences (NASDAQ:GILD) at 4.93 percent. This structure suits short-term traders with elevated risk tolerance rather than long-term holders.

Metabolic and Cardiometabolic Focus: Emerging Opportunities

The Tema Heart and Health ETF (NASDAQ:HRTS) commenced operations in November 2023 with US$51.68 million in AUM. This biotech ETF concentrates on companies developing treatments for diabetes, obesity, and cardiovascular disease. The fund underwent multiple rebranding initiatives, most recently reflecting its GLP-1 focus. With 47 holdings—approximately 75 percent large-cap and 22 percent mid-cap—the portfolio tilts toward established names. Eli Lilly and Company commands the largest position at 8.47 percent, accompanied by Abbott Laboratories (NYSE:ABT) at 4.58 percent and AstraZeneca (NASDAQ:AZN) at 4.39 percent.

Inverse Positioning: Hedging Through Leverage

The Direxion Daily S&P Biotech Bear 3x Shares (ARCA:LABD) presents an alternative with US$78.98 million AUM. This leveraged inverse ETF aims to deliver three times the daily inverse return of the S&P Biotechnology Select Industry Index—rising when biotech declines and falling during sector rallies. Rather than holding individual equities, LABD maintains financial derivatives including futures contracts. Analysts emphasize this structure suits only short-term tactical trading, as daily rebalancing creates compounding effects unsuitable for extended holding periods.

Selecting the Right Biotech ETF

Each biotech ETF serves distinct investment objectives. Clinical-stage focused funds like SBIO appeal to investors believing in pipeline potential, while oncology-specific vehicles like CANC target specialists in that disease area. Leveraged long options—exemplified by BIB—demand active management and elevated risk capacity. Conversely, inverse structures through LABD function as hedging tools rather than core positions. Metabolic-focused alternatives like HRTS capture momentum in obesity treatment development.

The optimal selection depends on your biotech thesis, risk tolerance, and investment horizon. Whether seeking diversified exposure, sector specialization, or tactical positioning, biotech ETFs eliminate the need to evaluate individual company fundamentals while delivering the flexibility to adjust thesis expression rapidly.