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  1. Ethics

Listing of Prohibited Investment Funds

PROHIBITED INVESTMENT FUNDS

FDA employees are prohibited from holding interests in certain investment funds that have a stated policy or practice of investing in companies that are SROs. The most commonly encountered examples of such funds are mutual funds or ETFs that invest in a range of sectors, including but not limited to:

  • Healthcare sector funds
  • Medical device sector funds
  • Consumer staples funds
  • Biotechnology funds

This restriction also applies to prohibited funds held by the employee’s spouse or minor children.

How often is the list of Prohibited Investment Funds updated?

FDA will send an agency-wide notice of updates on a monthly basis.

How do I search the list of Prohibited Investment Funds?

Enter the mutual fund name in the search field to search the list, which will provide you the mutual fund name and ticker symbol if there is a match.  Please note that FDA has determined your fund to be prohibited, even if the class of shares that you own, and hence ticker symbol, are different from the fund on the prohibited funds list.

The Prohibited Funds List only includes publicly traded mutual funds traded on a U.S. stock exchange or publicly available through a variable life insurance policy.  Please remember to contact FDA Ethics Advice Hotline at (240) 402-1111 or email FDAEthics_Advice@fda.hhs.gov if you own a privately-held investment fund (e.g., hedge fund, venture capital fund, private equity fund) or own a mutual fund that trades on a foreign stock exchange.

 

 

Mutual Fund Name Ticker(s) Date Added
Abrdn Bloomberg All Commodity Strategy K-1 Free ETF BCI 202308318/31/2023
Advisorshares Vice ETF ACT 202006226/22/2020
AdvisorShares MSOS 2x Daily ETF  MSOX 202304124/12/2023
AdvisorShares Poseidon Dynamic Cannabis ETF PSDN 202206016/1/2022
AdvisorShares Psychedelics ETF PSIL 202203073/7/2022
Advisorshares Pure Cannabis ETF YOLO 202006226/22/2020
Advisorshares Pure US Cannabis ETF MSOS 202103103/10/2021
Advisorshares Vice ETF VICE 202304124/12/2023
Alger Health Sciences Fund AHSAX; AHSCX; AHSZX 201701011/1/2017
AllianzGI Health Sciences Fund RAGHX; RCGHX; HLHIX 201701011/1/2017
AlphaCentric LifeSci Healthcare Fund LYFAX;LYFCX;LYFIX 202307107/10/2023
ALPS Medical Breakthroughs ETF SBIO 201701011/1/2017
American Beacon ARK Transformational Innovation Fund ADNPX; ADNYX; ADNAX; ADNRX; ADNCX; ADNIX 202106116/11/2021
Amplify Growth Opportunities ETF  CNBS 202304124/12/2023
Amplify Seymour Cannabis ETF CNBS 202007157/15/2020
ARK Genomic Revolution ETF ARKG 201701011/1/2017
ARK Innovation ETF ARKK 201701011/1/2017
AXS 2X Bear Daily ETF PFES 2022102010/20/2022
AXS 2X PFE Bear Daily ETF PFES 202304124/12/2023
AXS 2X PFE Bull Daily ETF PFEL 2022102010/20/2022
B.A.D. ETF (Betting, alcohol, Cannabis and Drugs) BAD 202205095/9/2022
Baillie Gifford Health Innovation Equities Fund BGHDX; BGHBX 202308098/9/2023
Baron Health Care Fund BHCFX; BHCHX; BHCUX 201701011/1/2017
BlackRock Health Sciences Opportunities Portfolio SHSAX; BHSRX; SHSSX; SHSCX; SHISX; SHSKX 201701011/1/2017
Blackrock Health Sciences Trust BME 201701011/1/2017
BlackRock Health Sciences Trust II  BMEZ 202206016/1/2022
Blackrock Future Health ETF BMED 202104224/22/2021
BondBloxx USD High Yield Bond Healthcare Sector ETF  XHYH 202206296/29/2022
Cambria Cannabis ETF  TOKE 202205095/9/2022
Consumer Staples Select Sect. SPDR (ETF) XLP 201701011/1/2017
Delaware Healthcare Fund DLHAX; DLHIX; DLHCX; DLRHX 201701011/1/2017
DWS Health and Wellness Fund SCHLX; SUHAX; SUHIX; SUHCX 201701011/1/2017
Direxion Daily Healthcare Bull 3X Shares CURE 201701011/1/2017
Direxion Daily Pharmaceuticals & Medical Bull 3X Shares ETF PILL 202104224/22/2021
Direxion Daily S&P Biotech Bull and Bear 3X Shares LABU; LABD 201701011/1/2017
Eaton Vance Worldwide Health Sciences Fund ETHSX; ERHSX; ECHSX; EIHSX 201701011/1/2017
ETFMG Alternative Harvest ETF MJ 201701011/1/2017
ETFMG U.S. Alternative Harvest ETF  MJUS 202206016/1/2022
ETFMG Treatments Testing and Advancements ETF GERM 202104224/22/2021
Eventide Healthcare & Life Sciences Fund ETNHX; ETAHX; ETCHX; ETIHX 201701011/1/2017
Fidelity Advisor Biotechnology Fund FBTAX; FBTCX; FBTIX; FBTTX; FIJYX 201701011/1/2017
Fidelity Advisor Consumer Staples Fund FDAGX; FDIGX; FDCGX; FDTGX; FDBGX; FIJCX 201701011/1/2017
Fidelity Advisor Health Care Fund FACDX; FHCIX; FHCCX; FACTX; FIKCX 201701011/1/2017
Fidelity Agricultural Productivity Fund FARMX 202304124/12/2023
Fidelity Digital Health ETF FDHT 202203073/7/2022
Fidelity Disruptive Medicine Fund FMEDX; FRXLX; FRXMX; FRXNX 202008118/11/2020
Fidelity MSCI Consumer Staples Index ETF FSTA 201701011/1/2017
Fidelity MSCI Health Care Index ETF FHLC 201701011/1/2017
Fidelity Select Biotechnology Portfolio FBIOX 201701011/1/2017
Fidelity Select Consumer Staples Portfolio FDFAX 201701011/1/2017
Fidelity Select Health Care Portfolio FSPHX 201701011/1/2017
Fidelity Select Medical Technology and Devices Portfolio FSMEX 201701011/1/2017
Fidelity Select Pharmaceuticals FPHAX 201701011/1/2017
Fidelity VIP Consumer Staples FCSAC 2023111611/16/2023
First Trust Alternative Absolute Return Strategy ETF FAAR 202103103/10/2021
First Trust Consumer Staples AlphaDex Fund FXG 201701011/1/2017
First Trust Biotechnology 54-61 FAYVOX; FWYARX; FNRTYX; FKJWXX; FWRSUX; FQAXSX; FHNSZX; FRGBDX 202308098/9/2023
First Trust Health Care AlphaDEX Fund FXH 201701011/1/2017
First Trust Health Care Select 63-71  FUGTGX; FURVTX; FMYHOX; FCFEDX; FHVICX; FCHKHX; FYGCYX; FLRXCX 202308098/9/2023
First Trust Health Care Select Buy-Write 1-3  FOYXHX; FMJRWX; FRGFHX 202308098/9/2023
First Trust Innovative Health Care 12-17  FQRVQX; FXKWWX; FUWBVX; FOFIVX; FGBVFX; FLHZTX 202308098/9/2023
First Trust Indxx Global Agriculture ETF FTAG 201701011/1/2017
First Trust Indxx Global Medical Devices ETF MDEV 202203073/7/2022
First Trust Nasdaq Food & Beverage ETF  FTXG 201701011/1/2017
First Trust Nasdaq Lux Digital Health Solutions ETF  EKG 202206016/1/2022
First Trust Nasdaq Phamaceuticals ETF FTXH 202104224/22/2021
First Trust NYSE Arca Biotechnology Index Fund FBT 201701011/1/2017
Franklin Biotechnology Discovery Fund FBDIX; FTDZX; FBTDX; FRBRX 201701011/1/2017
Franklin Genomic Advancements ETF HELX 202104224/22/2021
Gabelli Pet Parents' PETZX; PETGX 202405295/29/2024
Global X Aging Population ETF  AGNG 202205095/9/2022
Global X AgTech & Food Innovation ETF KROP 2021121012/10/2021
Global X Cannabis ETF POTX 202007157/15/2020
Global X China Biotech Innovations ETF CHB 202104224/22/2021
Global X MSCI China Consumer Staples ETF  CHIS 202304124/12/2023
Global X Genomics & Biotechnology ETF GNOM 202102052/5/2021
Global X Health Care Covered Call & Growth ETF  HYLG 202308098/9/2023
Global X Health Wellness ETF BFIT 202005155/15/2020
Global X MSCI China Health Care ETF CHIH 201701011/1/2017
Global X Telemedicine & Digital Health ETF EDOC 202104224/22/2021
Goldman Sachs Future Health Care Equity ETF GDOC 202202142/14/2022
Grizzle Growth ETF GRZZ 202306076/7/2023
Invesco S&P 500 Equal Weight Health Care ETF RSPH 201701011/1/2017
Harbor Health Care ETF MEDI 202304124/12/2023
Hartford Healthcare HLS Fund HIAHX; HBGHX 202404224/22/2024
Hartford Healthcare HLS Fund HIAHX; HBGHX 201701011/1/2017
Health Care Select Sector SPDR Fund XLV 201701011/1/2017
Hercules Capital, Inc. HTGC 202104224/22/2021
Horizon Technology Finance Corporation  HRZN 202308318/31/2023
Horizon Kinetics Medical ETF MEDX 202304124/12/2023
ICON Consumer Select Fund ICFSX; ICFAX 201701011/1/2017
ICON Health and Information Technology Fund ICTTX; ICTEX 201701011/1/2017
Invesco Agriculture Commodity Strategy No K-1 ETF PDBA 202304124/12/2023
Invesco Balanced Risk Commodity Strategy  BRCCX; BRCAX; BRCRX; BRCYX; BRCNX; IBRFX 202306076/7/2023
Invesco DB Agriculture Fund DBA 202003043/4/2020
Invesco DB Commodity Index Tracking Fund DBC 202306076/7/2023
Invesco Dorsey Wright Consumer Staples Momentum ETF PSL 202202142/14/2022
Invesco Health Care Fund GGHCX; GGHSX; GGHYX 201701011/1/2017
Invesco Nasdaq Biotechnology ETF  IBBQ 202206016/1/2022
Invesco Pharmaceuticals ETF PJP 202404224/22/2024
Invesco S&P 500 Equal Weight Consumer Staples ETF RSPS 202003043/4/2020
Invesco S&P SmallCap Consumer Staples ETF PSCC 202104224/22/2021
iPath Bloomberg Grains Subindex Total Return(SM) ETN  JJGTF 202304124/12/2023
IQ Healthlly Hearts ETF HART 202104224/22/2021
iShares U.S. Pharmaceuticals (ETF) IHE 201701011/1/2017
iShares U.S. Consumer Staples (ETF) IYK 201701011/1/2017
iShares Emergent Food and AgTech Multisector ETF  IVEG 202206296/29/2022
IShares Genomics Immunology and Healthcare ETF IDNA 202102052/5/2021
iShares MSCI Agriculture Producers ETF VEGI 201701011/1/2017
iShares Biotechnology (ETF) IBB 201701011/1/2017
iShares Global Consumer Staples (ETF) KXI 201701011/1/2017
iShares Global Healthcare (ETF) IXJ 201701011/1/2017
iShares MSCI Global Sustainable Development Goals ETF SDG 2022102010/20/2022
iShares US Healthcare (ETF) IYH 201701011/1/2017
iShares US Medical Devices (ETF) IHI 201701011/1/2017
iShares Neuroscience and Healthcare ETF  IBRN 202304124/12/2023
Janus Henderson Global Life Sciences Fund JFNAX; JAGLX; JNGLX; JFNIX; JFNCX; JFNNX; JFNSX 201701011/1/2017
John Hancock Variable Insurance Trust Health Sciences Trust JEHSX 201701011/1/2017
KraneShares MSCI All China Health Care Index ETF KURE 201701011/1/2017
Live Oak Health Sciences Fund LOGSX 201701011/1/2017
Loncar Cancer Immunotherapy ETF CNCR 202102052/5/2021
Lord Abbett Health Care Fund LHCAX; LHCCX; LHCFX; LHCOX; LHCIX; LHCQX; LHCSX; LHCTX; LHCVX 201701011/1/2017
VanEck Vectors Biotech ETF BBH 201701011/1/2017
VanEck Vectors Pharmaceutical ETF PPH 201701011/1/2017
Neuberger Berman Commodity Strategy ETF NBCM 202308318/31/2023
Neuberger Berman Disrupters ETF NBDS 2022102010/20/2022
Invesco Biotechnology & Genome ETF PBE 201701011/1/2017
Invesco Food & Beverage ETF PBJ 201701011/1/2017
Invesco Dorsey Wright Healthcare Momentum ETF   PTH 201701011/1/2017
Pacer BioThreat Strategy ETF VIRS 202202142/14/2022
PoweShares Dynamic Pharmaceuticals ETF PJP 201701011/1/2017
Invesco S&P SmallCap Health Care ETF PSCH 201701011/1/2017
Principal Healthcare Innovators Index ETF BTEC 202102052/5/2021
ProFunds Biotechnology UltraSector Fund BIPIX; BIPSX 201701011/1/2017
ProFunds Consumer Goods Ultra Sector Fund CNPIX; CNPSX 201701011/1/2017
ProFunds Pharmaceuticals UltraSector Fund PHPIX; PHPSX 201701011/1/2017
ProFunds UltraSector Health Care Fund Investor Class HCPIX, HCPSX 201701011/1/2017
ProFund VP Biotechnology   202402082/8/2024
Proshares MSCI Transformational Changes ETF  ANEW 202206296/29/2022
Proshares Pet Care ETF PAWZ 202202142/14/2022
ProShares Ultra Consumer Goods UGE 201701011/1/2017
ProShares Ultra Health Care RXL 201701011/1/2017
ProShares Ultra Nasdaq Biotechnology BIB 201701011/1/2017
ProShares Ultra Short Consumer Goods SZK 201701011/1/2017
ProShares UltraShort Health Care RXD 201701011/1/2017
ProShares UltraShort Nasdaq Biotech BIS 201701011/1/2017
PGIM Jennison Health Sciences Fund PHLAX; PHSZX; PHLCX; PHLQX;PJHRX 201701011/1/2017
PSYK ETF (Horizons Psychedelic) PSYK 202205095/9/2022
Putnam BioRevolution ETF  SYNB 202304124/12/2023
Putnam Global Health Care Fund PHSTX; PHSBX; PCHSX; PHSRX; PHSYX; PHLMX;PGHAX 201701011/1/2017
ROBO Global Healthcare Technology and Innovation ETF HTEC 2021121012/10/2021
Roundhill Cannabis ETF WEED 202206016/1/2022
Rydex Biotechnology Fund RYOIX; RYBOX; RYOAX; RYCFX 201701011/1/2017
Rydex Consumer Products Fund RYCIX; RYPDX; RYCAX; RYCPX 201701011/1/2017
Rydex Health Care Fund RYHIX; RYHEX; RYHAX; RYHCX 201701011/1/2017
Saratoga Health & Biotechnology Portfolio Fund SBHIX; SHPAX; SHPCX 201701011/1/2017
Schwab Health Care Fund SWHFX 201701011/1/2017
Simplify Health Care ETF PINK 202202142/14/2022
Simplify Propel Opportunities ETF SURI 202304124/12/2023
SPDR S&P Biotech (ETF) XBI 201701011/1/2017
SPDR S&P Health Care Equipment ETF XHE 201701011/1/2017
SPDR S&P Health Care Services ETF XHS 202104224/22/2021
SPDR S&P Pharmaceuticals (ETF) XPH 201701011/1/2017
Subversive Cannabis ETF LGLZ 2023101810/18/2023
Subversive Food Security ETF KCAL 202304124/12/2023
Subversive Mental Health ETF SANE 202304124/12/2023
T Rowe Price Health Sciences Fund PRHSX, THISX 201701011/1/2017
Abrdn Healthcare Investors HQH 201701011/1/2017
Abrdn Healthcare Opportunities Fund THQ 201701011/1/2017
Abrdn Life Sciences Investors HQL 201701011/1/2017
Abrdn World Healthcare Fund THW 201701011/1/2017
TEMA Cardiovascular and Metabolic ETF HRTS 2023121212/12/2023
Tema Neuroscience and Mental Health ETF MNTL 202404224/22/2024
Tema Oncology ETF CANC 202309259/25/2023
Teucrium Agricultural Fund TAGS 202007157/15/2020
Teucrium Agricultural No K-1 Strategy ETF TILL 202206296/29/2022
Teucrium AiLA Long-Short Agriculture Strategy ETF OAIA 202304124/12/2023
Teucrium Corn Fund CORN 202007157/15/2020
Teucrium Soybean SOYB 202007157/15/2020
Teucrium Sugar CANE 202007157/15/2020
Teucrium Wheat WEAT 202007157/15/2020
The Cannabis ETF THCX 202007157/15/2020
The Gabelli Healthcare & Wellness Rx Trust GRX; XXGRX 202304124/12/2023
The Hartford Healthcare Fund HGHAX; HGHCX; HGHSX; HGHIX; HGHRX; HGHTX; HGHYX; HGHVX; HGHFX 201701011/1/2017
USA Mutuals Funds VICEX; VICAX; VICCX; VICVX 201701011/1/2017
USA Mutuals Vice Funds VICEX; VICAX; VICCX; VICVX 202404224/22/2024
VANECK VECTORS AGRIBUSINESS ETF MOO 202404224/22/2024
VanEck Future of Food YUMY 2021121012/10/2021
VanEck Agribusiness ETF MOO 201701011/1/2017
Vanguard Consumer Staples ETF VDC 201701011/1/2017
Vanguard Consumer Staples Index Admiral VCSAX 202404224/22/2024
Vanguard Consumer Staples Index Fund VCSAX 201701011/1/2017
Vanguard Health Care Index Fund ETF Shares VHT 201701011/1/2017
Vanguard Health Care Inv VGHCX 201701011/1/2017
VegTech Plant-based Innovation & Climate ETF  EATV 202206296/29/2022
Virtus KAR Health Sciences Fund  RAGHX; RCGHX; HLHIX; AAAEX 202304124/12/2023
Vanguard Health Care Index Admiral VHCIX 202204224/22/2024
Vanguard Health Care ETF  VHT 202404224/22/2024
Vanguard Health Care Adm VGHAX 202204224/22/2024
Virtus LifeSci Biotech Clincial Trials ETF BBC 201701011/1/2017
Virtus LifeSci Biotech Products ETF BBP 201701011/1/2017
WisdomTree BioRevolution Fund  WDNA 202205095/9/2022
Wisdom Tree Managed Futures Strategy Fund WTMF 202103103/10/2021

 

 

 
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