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There’s been a lot of excitement in the healthcare space around weight loss drugs. But investors may be surprised to learn that healthcare stocks, they’ve lagged the broader market. Joining us now to discuss whether the trend will change and the potential opportunity, Julien Nono-Womdim, VP for Portfolio Research at TD Asset Management. Julian, welcome back to the program.
Hi, Greg. Thanks for having me. You’re right, it is surprising. Health care has underperformed the broader market on a year-to-date basis, down 200 to 300 basis points relative to the S&P 500 on a year-to-date basis. And if we extend that time frame over the last year, the healthcare sector has underperformed by about 10%.
What is going on? This is the thing, right– we have seen the headlines, the weight loss drugs stirring so much excitement out there. But health care is a pretty big basket. So when we …