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NTHM ETF rebalance boosts midstream energy and GLP-1 healthcare
Technology weight dropped 15.6 percentage points to 25.2%, while Energy rose 14.5 points to 25.2% and Healthcare climbed to 15.4%.
ETF Trends reports that the NBI Thematic Rotation ETF, ticker NTHM:TSX, has completed its latest rebalance, shifting capital away from broad tech and industrial exposure toward midstream energy infrastructure and GLP-1 weight-loss drug manufacturers.
According to the fund’s tracking of the Thematic Rotation Quality Momentum Screened Index (TRQMS), the Technology allocation fell from 40.8% to 25.2%, a 15.6-percentage-point decline. High-momentum names such as KLA Corp. and Palantir also moved lower in the portfolio rankings.
Energy increased from 10.7% to 25.2%, rising 14.5 percentage points, with North American midstream operators driving the gain. The fund added positions in ONEOK, Williams Companies, and Kinder Morgan, and Healthcare rose from 0.1% to 15.4%, centered on metabolic drug makers, including Eli Lilly and Novo Nordisk.
The rebalance also reduced Industrial goods exposure from 16.8% to 5.7% and Basic materials from 23.1% to 16.0%. U.S. equity exposure fell from 50.2% to 43.0%, while Canadian holdings rose to 7.9% as the portfolio increased exposure to North American energy infrastructure.