CANC vs IBB: Grades, Fees and Holdings Compared

Tema Oncology ETF

CANCDNasdaq

iShares Biotechnology ETF

IBBANasdaq

Overlap

16.9%by weight

Expense ratio

IBB −0.31pt a year

CANC0.75%IBB0.44%

Avg volume · 30D

IBB 52.6×the volume

CANC31.3KIBB1.65M

3Y return · a year

CANC +1.2pt

CANC+25.7%IBB+24.5%

CANC vs IBB Performance

Oct 31, 2025 – Oct 30, 2026

+36.6%CANC+36.8%IBB

Expense ratio: CANC 0.75%; IBB 0.44%, better
Fund size: CANC $216M; IBB $11.5B
1Y total return: CANC +36.6%; IBB +36.8%, better
Yield (12M): CANC 0.05%; IBB 0.16%, better
Holdings: CANC 57; IBB 243
Avg volume (30D): CANC 31.3K sh; IBB 1.65M sh, better
NAV per share: CANC $42.27; IBB $217.59
52W range

ETF.net Grade

Pillar letters and Scores for CANC, IBB, with each pillar’s weight
Pillar	CANC	IBB
Cost30% weight	F3	B69Higher
Mission25% weight	Not scored	A83
Risk15% weight	B61	B69Higher
Tradability15% weight	D28	A95Higher
Holdings10% weight	B66Higher	C45
Durability5% weight	C43	A89Higher

Rank among Biotech & Genomics funds

How we build Categories ›

Same Category. CANC and IBB are both graded against the same 17 Biotech & Genomics funds, so their Grades compare head to head.

Biotech & Genomics⁠

Category · 17 funds

See all 17 ›

IBB ranks 3rd and CANC 17th of 17 funds in the Biotech & Genomics Category.

Rank 1AXBIState Street SPDR S&P Biotech ETFScore 80
Rank 2AIBBQInvesco Nasdaq Biotechnology ETFScore 77
Rank 3AIBBiShares Biotechnology ETFScore 75
Rank 4ABBPVirtus Biotech ETFScore 74
Rank 16DBBCVirtus Biotech Clinical Trials ETFScore 31
Rank 17DCANCTema Oncology ETFScore 30

Our read on each fund

ETF.net Research

CANCDTema Oncology ETF

IBBAiShares Biotechnology ETF

In short

CANC Most biotech funds buy the whole lab. CANC buys the cancer wing: an actively managed book of roughly 60 companies, with at least 80% of assets in firms that earn half their revenue or more from oncology.

IBB Biotech's original index fund. Since 2001 IBB has packed the whole US biotech sector, roughly 250 names, into one line item for 0.44% a year, below what the typical biotech fund charges.

Stated mandate

CANC The Fund seeks long-term growth. Its principal strategy invests at least 80% of net assets in publicly listed companies deriving at least 50% of revenue from oncology.

IBB The Fund seeks to track an index composed of U.S.-listed equities focused on the biotechnology sector.

Why people hold it

CANC The 50%-of-revenue test is the whole point. It screens for companies where cancer is the business, not a side project, then builds roughly 60 names around that.
No oncology index to hug. A stock-picking team sets the portfolio, and the fund reports its results against the S&P 500 Total Return Index.stockanalysis.com
Running since 2023, with a global mandate: the book can reach across US and European cancer franchises rather than stopping at the US border.stockanalysis.com

IBB A 2001 launch makes it one of the sector's originals, and it has grown into a multi-billion-dollar fund that trades actively.
Roughly 250 stocks, so the whole US biotech bench comes along instead of a few marquee drugmakers.
0.44% a year, set by the prospectus and below the median fee in its biotech peer group.
Sticks closely to the job in its prospectus: US-listed biotech equities, nothing exotic bolted on. That lands it in the upper half of its peer group.ishares.com

Worth knowing

CANC Costs 0.75% net of a waiver through June 28, 2027, versus 0.99% gross, and above the category median. Index peers IBBQ (0.19%) and XBI (0.35%) ask less.
A small fund that trades thinly, so spreads can be wider and order size matters more than with the largest biotech baskets.
Concentration cuts both ways: trial readouts, pricing policy and regulatory decisions in one disease area move this book. Distributions come annually or semiannually.

IBB Cheaper seats exist in the same aisle: IBBQ at 0.19%, BBP at 0.34%, XBI at 0.35%.
One industry carries the whole fund. Trial readouts, FDA decisions and patent expiries drive it, with no other sector to cushion a rough patch.
Distributions arrive quarterly, but biotech is a growth sector and payouts are a side effect, not the point.

Full CANC profile⁠

Full IBB profile⁠

CANC vs IBB Holdings

How CANC and IBB differ

Overlap by weight

16.9%

Shared holdings make up 64.2% of CANC and 34.7% of IBB.

Level by level

Sector6 Sectors0.0%
Holdings42 in both16.9%
Countryby domicile87.4%
Asset classEquity100%

Sector

Sector weights in CANC and IBB, widest gap first
Sector	More in CANCMore in IBB	CANC	IBB
Health Care	CANC +100.0 points	100.0%	0.0%
Biotechnology	IBB +87.5 points	0.0%	87.5%
Life Sciences Tools & Services	IBB +9.6 points	0.0%	9.6%
Pharmaceuticals	IBB +2.7 points	0.0%	2.7%
Health Care Services	IBB +0.1 points	0.0%	0.1%
Health Care Equipment	IBB +0.1 points	0.0%	0.1%

Country, concentration and asset class

Country by domicile

Country weights in CANC and IBB, widest gap first
Country	More in CANCMore in IBB	CANC	IBB
United States	IBB +11.1 points	83.2%	94.3%
Switzerland	CANC +6.9 points	7.2%	0.3%
Denmark	CANC +3.6 points	5.7%	2.1%
China	CANC +1.4 points	1.6%	0.1%
United Kingdom	CANC +0.7 points	2.2%	1.5%
Other countries (7)	IBB +1.6 points	0.0%	1.6%

Concentration

Weight in the 10 largest Holdings

CANC45.6%
IBB51.4%

Securities held

CANC56
IBB241

Asset class

CANC: Equity
IBB: Equity

Holdings

Only in CANC14
In both42
Only in IBB199

Only in CANC

14 securities, 35.4% of CANC by weight

Eli Lilly & Co5.35%
Merck & Co Inc5.18%
Novartis AG4.13%
AbbVie Inc4.00%
Roche Holding AG3.16%
Bristol-Myers Squibb Co2.66%
Johnson & Johnson2.53%
Astrazeneca PLC2.35%
Immunome Inc2.27%
Celcuity Inc1.44%
Guardant Health Inc0.76%
Verastem Inc0.60%
Immatics NV0.49%
Adlai Nortye Group Ltd0.46%

Only in IBB

199 securities, 65.2% of IBB by weight

Vertex Pharmaceuticals7.87%
Regeneron Pharmaceuticals6.24%
Moderna5.49%
Argenx SE Adr3.36%
Biogen2.52%
Illumina Inc2.41%
United Therapeutics1.68%
Insmed1.64%
Incyte Corp1.64%
Alnylam Pharmaceuticals1.49%
Roivant Sciences Ltd1.31%
Charles River Laboratories Interna1.15%
Ascendis Pharma1.05%
Neurocrine Biosciences1.00%
Medpace Holdings0.99%
Bio Techne0.77%
Biomarin Pharmaceutical0.76%
Repligen0.72%
Twist Bioscience0.66%
Kymera Therapeutics0.64%
Madrigal Pharmaceuticals0.63%
Vaxcyte0.61%
Protagonist Therapeutics0.60%
Krystal Biotech0.58%
Biontech SE Adr0.57%
Cytokinetics0.57%
10X Genomics Class A0.55%
Arrowhead Pharmaceuticals0.54%
Tempus Ai Class A0.53%
Spyre Therapeutics Inc0.52%
Praxis Precision Medicines0.51%
Alkermes0.50%
Ionis Pharmaceuticals0.48%
Axsome Therapeutics0.43%
Bruker0.43%
Abivax American Depositary Shares0.43%
Rhythm Pharmaceuticals0.41%
Grail Inc0.41%
Kodiak Sciences0.39%
Oruka Therapeutics0.39%
Ptc Therapeutics0.32%
Definium Therapeutics Inc0.32%
Travere Therapeutics0.31%
Crispr Therapeutics AG0.31%
Mirum Pharmaceuticals0.31%
Caris Life Sciences0.30%
Scholar Rock Holding0.30%
Adaptive Biotechnologies0.28%
Caredx0.28%
Veracyte0.27%

Weight gaps

All 42 Holdings in both funds, largest gap first.

Holding weights in CANC and IBB, widest gap first
Holding	More in CANCMore in IBB	CANC	IBB
Gilead Sciences IncGILD	IBB +7.90 points	1.04%	8.94%
Amgen IncAMGN	IBB +6.86 points	1.45%	8.31%
Cogent Biosciences IncCOGT	CANC +4.20 points	4.53%	0.33%
Genmab A/SGMAB	CANC +3.85 points	5.99%	2.14%
Natera IncNTRA	IBB +3.06 points	0.72%	3.78%
Halozyme Therapeutics IncHALO	CANC +2.82 points	3.82%	1.00%
Revolution Medicines IncRVMD	CANC +2.73 points	5.23%	2.50%
Exelixis IncEXEL	CANC +2.52 points	3.65%	1.13%
Enliven Therapeutics IncELVN	CANC +2.25 points	2.43%	0.18%
Cg Oncology IncCGON	CANC +2.17 points	2.43%	0.26%
Bridgebio Pharma IncBBIO	CANC +2.08 points	2.97%	0.89%
Ideaya Biosciences IncIDYA	CANC +2.00 points	2.20%	0.20%
Relay Therapeutics IncRLAY	CANC +1.99 points	2.20%	0.21%
Legend Biotech CorpLEGN	CANC +1.84 points	2.08%	0.24%
Beone Medicines LtdONC	CANC +1.63 points	3.74%	2.11%
Erasca IncERAS	CANC +1.60 points	1.84%	0.24%
Iovance Biotherapeutics IncIOVA	CANC +1.59 points	1.82%	0.23%
Zai Lab LtdZLAB	CANC +1.46 points	1.60%	0.14%
Summit Therapeutics IncSMMT	CANC +1.44 points	1.61%	0.17%
Zymeworks IncZYME	CANC +1.24 points	1.37%	0.13%
Kura Oncology IncKURA	CANC +0.99 points	1.05%	0.06%
Nuvation Bio IncNUVB	CANC +0.88 points	0.96%	0.08%
Replimune Group IncREPL	CANC +0.83 points	0.93%	0.10%
Urogen Pharma LtdURGN	CANC +0.74 points	0.83%	0.09%
Arcus Biosciences IncRCUS	CANC +0.66 points	0.77%	0.10%
Corvus Pharmaceuticals IncCRVS	CANC +0.65 points	0.69%	0.04%
Immunitybio IncIBRX	CANC +0.62 points	0.84%	0.22%
Immunocore Holdings PLCIMCR	CANC +0.57 points	0.66%	0.09%
Oric Pharmaceuticals IncORIC	CANC +0.46 points	0.50%	0.04%
Inhibrx Biosciences IncINBX	CANC +0.44 points	0.49%	0.05%
Janux Therapeutics IncJANX	CANC +0.39 points	0.46%	0.07%
Cullinan Therapeutics IncCGEM	CANC +0.38 points	0.43%	0.05%
Anaptysbio IncANAB	CANC +0.33 points	0.42%	0.09%
Candel Therapeutics IncCADL	CANC +0.32 points	0.35%	0.03%
Olema Pharmaceuticals IncOLMA	CANC +0.25 points	0.28%	0.03%
Cytomx Therapeutics IncCTMX	CANC +0.24 points	0.27%	0.03%
Arrivent Biopharma IncAVBP	CANC +0.22 points	0.26%	0.04%
Tyra Biosciences IncTYRA	CANC +0.21 points	0.29%	0.08%
Arvinas IncARVN	CANC +0.20 points	0.23%	0.03%
Tango Therapeutics IncTNGX	CANC +0.18 points	0.40%	0.21%
Autolus Therapeutics PLCAUTL	CANC +0.18 points	0.20%	0.02%
Bicara Therapeutics IncBCAX	CANC +0.14 points	0.17%	0.03%

All 57 CANC holdings⁠All 243 IBB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CANC vs IBB Cost

Overpaying CANC vs IBB

$5,630

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CANC 0.75%
$14,482
IBB 0.44%
$8,852

Amount$10,000

Years30 years

Cost over time

CANC 0.75%
IBB 0.44%
Overpaying

Year by year

Year	CANC	IBB	Overpaying
10	$1,336	$794	$542
20	$5,078	$3,061	$2,017
30	$14,482	$8,852	$5,630

Expense ratio

0.75%CANC
0.44%IBB, cheaper

IBB0.44%CANC0.75%

0.19%0.75%

Middle half of Biotech & Genomics funds
Median 0.47%

IBB 6th cheapest of 17 funds

CANC 16th cheapest of 17 funds

CANC vs IBB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CANC 0.05%; IBB 0.16%, better
Payout (12M): CANC $0.02; IBB $0.34
Last payment: CANC $0.02; IBB $0.01
Ex-dividend: CANC Dec 10, 2025; IBB Sep 15, 2026
Paid on: CANC Dec 11, 2025; IBB Sep 18, 2026
Frequency: CANC Annual; IBB Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

CANCAnnual · 3 paymentsAll CANC payments⁠

IBBQuarterly · 36 paymentsAll IBB payments⁠

CANC vs IBB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CANC 18.8%IBB 17.9%, better
Return per unit of riskSharpe ratio, 3 years: CANC 1.08, betterIBB 1.07
Worst fallMax drawdown, 5 years: CANC −28.0%since Aug 2023IBB −35.7%
Market sensitivityBeta, 5 years: CANC 0.72IBB 0.70; Market = 1

CANC and IBB in the news

All news⁠

Deep Dive
Moderna fell 18% on cancer-vaccine data, and genomics ETFs fell 4%
Oct 23, 2026IBB
News
AstraZeneca agrees to invest $2 billion in Summit, without the drug rights
Sep 28, 2026IBB
Deep Dive
Health care's 1.8% week was four large caps, not a biotech rally
Sep 19, 2026IBB
Deep Dive
Health care ETFs spent 2026 between a 28% biotech rally and a 16% device slide
Sep 14, 2026IBB

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