The IBB is a Biotech MF. Since the Fed made a broad generalization about the Biotech sector, then really we are talking about the IBB. Its down and there is no sign of reverse at this time. ACAD will tend to be more volatile than the IBB, i.ei higher Beta, but there is a correlation. ACAD tends to follow the IBB, but with a higher Beta. ie more extreme moves. This may help identify a reverse.