Biotech stocks have been crushed in 2022 along with other growth stocks. YTD, the sector is down 30% which dwarfs the S&P 500’s 22.8% decline.
However, this underperformance is nothing new as biotech stocks have been underperforming for nearly a decade. Since its high in 2015, the iShares Biotechnology ETF (IBB) is down 2.4%, while the S&P 500 is up 110% over the same timeframe.
