Today iShares is finalizing the liquidation of IRY, their International Health Care ETF.
ETFs are generally shutdown and liquidated when the fund fails to attract enough assets, thus being unprofitable to the issuer.
IRY was a sector niche specific fund. Which is exactly why I originally purchased it back on 1/6/2017. Its holding were international non-USA health care companies. I explicitly wanted exposure to the international health care sector.
But alas, IRY wasn’t profitable to iShares and so they’ve closed out the fund. The final price was $49.97 to be settled today. Providing a solid double digit gain over the 7 month holding period. (see chart)
In spite of Washington DC’s health care policy ineptness, or perhaps because of it, I’m still enthusiastic about the health care industry and likely to reinvest these proceeds in another stock or fund that’s favored by that sector.
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