5 Best Performing Healthcare ETFs in 2023

2. ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS)

Year to date returns: 29.81%

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) is another short ETF. Like the previous ETF, it also seeks the negative returns of an underlying index, which means that when the index is down, the ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) is posting gains. The ETF’s underlying index is the Nasdaq Biotechnology Index, and naturally, this means that more than 80% of its investments are in biotechnology companies.