HealthShares Changes HealthShares Patient Care Services Index
HealthShares Patient Care Services Index
Effective at the opening of trading Express Scripts will replace Genesis HealthCare in the HealthShares Patient Care Services Index.
Genesis HealthCare is being acquired by a private entity. Companies included in the HealthShares Patient Care Services Index are engaged in providing direct treatment of patients in hospitals,
outpatient clinics, nursing homes, assisted living centers, treatment facilities or home health providers.
XShares Advisors LLC, a financial services company based in New York, is the creator of the HealthShares family of Exchange Traded Funds (ETFs). HealthShares ETFs are organized into therapeutic 'Verticals' and represent specific areas of the healthcare, life science and biotechnology industries. Each Vertical addresses a distinct sub-segment of healthcare, such as the diagnosis and treatment of specific therapeutic areas (e.g. cardiology, cancer, infectious disease, etc.) and the development of medical devices (e.g. orthopedic repair, cardio devices,etc.). Each ETF tracks an index of 22 stocks, except the Composite which tracks 80 stocks, and offers institutional and individual investors a more precise financial instrument that leverages the potential of healthcare investing while mitigating the risks of single stock picking.
XShares Advisors LLC, a subsidiary of XShares Group LLC, is a registered investment advisor that provides investment advisory services to Exchange Traded Funds. XShares also partners with major institutions and index providers seeking to bring innovative Exchange Traded Funds to market using its administrative platform. In addition, XShares creates and licenses distinctive intellectual property for its ETFs, developing products that allow for innovative trading strategies and alternative investments for the financial community.
An Investor should consider the fund's investment objective, risks,
charges and expenses carefully before investing.
There are risks involved with investing in ETFs including possible loss of money. HealthShares are not actively managed and are subject to risks similar to stocks, including those related to short selling and margin maintenance. Losses from short sales may be unlimited, and losses from purchases on margin may exceed original investment. Normal brokerage commissions apply. HealthShares ETFs are subject to increased risks associated with investing in a specific sector compared to a more diversified investment, as well as unique risks associated with the healthcare and biotechnology sector (i.e., government regulation, patent regulation, etc.).
The ETFs face additional risks attributable to their investments in small and medium capitalization companies which are subject to higher volatility than larger, more established companies. In addition, they are invested in a limited number of securities and a decline in the value of these investments would cause the fund's overall value to decline to a greater degree than in a less concentrated portfolio. Global or International Funds invest in foreign securities that will be subject to certain risks not associated with domestic securities, such as currency fluctuations, and changes in political and economic conditions.
The prospectus is not an offer to buy or sell the portfolio shares, nor is the fund soliciting an offer to buy its shares in any jurisdiction where the offer or sale is not permitted.