CURE - ETFS S&P Biotech ETF

The ETFS S&P Biotech ETF (CURE) listed on the ASX in late 2018 at $50 a unit. The ETF reached a high over $80 in Jan this year and the YTD performance is down nearly 17% and is currently trading at $59.30.

CURE is focused on exposure to the US biotechnology sub-industry within the health care sector. The Fund aims to provide investors with a return that (before fees and expenses) tracks the performance of the S&P Biotechnology Select Industry Index. The Fund aims to track the performance of the Index by holding all of the shares that make up the Index, in the proportion closely mirroring the Index.

Market Cap is $62 million and the MER is 0.45%pa.

Seems like CURE is not loved.
Bio techs.
They are hit and miss anyway?.
To have an etf based on the index seems bizarre.
How many bio's would need a hit around the same time to start dragging the index up?
Am I missing something? ??

Dona Ferentes said:

The Fund aims to provide investors with a return that (before fees and expenses) tracks the performance of the S&P Biotechnology Select Industry Index.

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Anyone know what that index ticker is?

Edit; ticker is SPSIBI

still at lows.... sub $40

Biotech CEOs hit the streets amid sector sell-off​

Offshore chief executives of ASX-listed biotech companies are descending on Australia this month, looking to shore up support amid the sector-wide sell-off.
Locally, listed biotech companies take their lead from their US counterparts and, much like the Nasdaq Biotech Index, share price dives of 30 per cent-plus in the past six months have been common across the sector....

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Article goes on to talk the talk " Now, for the first time this year, CEOs from companies such as Chimeric Therapeutics, BCAL Diagnostics and Radiopharm Theranostics are booking in-person meetings with local fund managers in an effort to stem the slide."

(but will that be the case?)