A more traditional health/biotech fund, the SPDR S&P Pharmaceuticals ETF (XPH) is invested in cash-rich "big-pharma" firms that some industry analysts say are gearing up to acquire companies, such as those that kept BBH above water during the year.
Finally, the nearby table also includes the top three funds in a popular area of ETF investing: currency and commodity funds. Even though the U.S. dollar regained lost ground vis-à-vis the euro and U.K. pound, investors who speculated on the strength of the Swiss franc and the Japanese yen by buying the currency ETFs in the table achieved profits in 2008.
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