BlackRock has launched an equity ETF offering exposure to the US medical devices industry.

The iShares US Medical Devices UCITS ETF (UMDV) is listed on Euronext Amsterdam with a total expense ratio of 0.25%.

Tracking the Dow Jones US Select Medical Equipment Capped 35/20 Index, UMDV is comprised of US companies involved in the manufacturing and distribution of medical devices.

UMDV has 59 holdings and its monthly reweighting is performed when the largest stock exceed 35% weighting of the fund or when the second largest exceeds 20%.

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As a sub-sector of the US healthcare, UMDV aims to take a short-term focus on the increase in demand following the coronavirus pandemic.

Furthermore, it looks to benefit from the growing demand in healthcare devices amid the growing age of the population who require long-term support.

The medical devices UMDV focuses on for the manufacturing of include MRI scanners, pacemakers, x-ray machines and other non-disposable pieces of equipment.

Other product launches from the firm this year have included a smart beta ESG ETF suite and three ultra-short bond ESG ETFs.