An ETF focusing specifically on biotechnology and health care is now trading on the Toronto Stock Exchange.

Purpose Investments Inc. launched Tuesday the Purpose Healthcare Innovation Yield ETF, which trades under the ticker symbol HEAL.

“The recent advances in health care are only the beginning of what Purpose believes to be a new multi-year cycle in biotech and health care breakthroughs that will provide investors with opportunity for attractive long-term returns,” Purpose Investments stated Tuesday in a release.

The fund is intended for clients investing for the medium to long-term and who can tolerate medium risk.

The fund uses a covered call options strategy. Purpose says the ETF will invest in companies in gene-editing, digital health care, medical testing, dental, health maintenance, hospitals, pharmacies and animal health, among others.

As of Jan. 18, the actively managed fund’s top holdings included Johnson & Johnson, Pfizer, Abbott Laboratories, UnitedHealth Group and Eli Lilly. It has a management fee of 0.85% with $2 million in assets under management.

“The portfolio holdings are primed for long-term growth and armed with commercialization opportunities and a strong pipeline of products under development,” Purpose said.

The sub-advisor for the fund is Next Edge Capital Corp.

“The past two years have shown just how important it is to have innovative companies develop vaccines and push forward medical advancements. Between the pandemic and our aging population, the spotlight is on the industry to really grow and innovate,” Purpose Investments CEO Som Seif stated in a release.