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After weeks of tumultuous trading, Wall Street rebounded on the May 17 trading session driven by bargain hunting. Investors jumped to buy beaten-down stocks in technology and other growth sectors.
As such, some ETFs from these sectors have gained more than 5% on the day. These include First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT - Free Report) , VanEck Vectors Digital Transformation ETF (DAPP - Free Report) , Invesco WilderHill Clean Energy ETF (PBW - Free Report) , VanEck Vectors Rare Earth/Strategic Metals ETF (REMX - Free Report) and U.S. Global Jets ETF (JETS - Free Report) . These funds seem excellent choices to play the stock market rebound.
The upbeat latest data has injected some optimism into the stock market. This is especially true as American shoppers increased retail spending in April for the fourth consecutive month. Retail sales grew 0.9% in April, indicating some signs of economic resilience as demand is still strong despite headwinds from high inflation, soaring consumer sentiment and rising interest rates.
Additionally, the reopening of some stores in Shanghai this week after a strict COVID-19 lockdown added to the strength. Further, Powell’s latest remarks that “the bigger rate hikes would be off the table for now even after the hot inflation readings” is expected to rekindle investors’ interest in risker assets once again (read: 5 Beaten-Down ETFs to Buy at Attractive Prices).
After a massive decline, U.S. stocks have become extremely cheap at current valuations. In fact, the meltdown has wiped out more than $7 trillion in market value so far this year from the blue-chip stocks in the S&P 500.
First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT - Free Report) – Up 7.4%
First Trust SkyBridge Crypto Industry and Digital Economy ETF is designed to provide exposure to companies that SkyBridge views as driving cryptocurrency, crypto assets and digital economies related innovation. SkyBridge identifies securities primarily via “bottom up” research focused on finding companies leading in the crypto industry ecosystem.
First Trust SkyBridge Crypto Industry holds 30 stocks in its basket and charges 85 bps in fees per year from investors. It has amassed $26.7 million in its asset base and trades in an average daily volume of 76,000 shares.
VanEck Vectors Digital Transformation ETF (DAPP - Free Report) – Up 7.1%
VanEck Vectors Digital Transformation ETF aims to offer exposure to companies that are at the forefront of the digital asset transformation, such as digital asset exchanges, payment gateways, digital asset mining operations, software services, equipment and technology or services to the digital asset operations, digital asset infrastructure businesses or companies facilitating commerce with the use of digital assets. VanEck Vectors Digital Transformation ETF tracks the MVIS Global Digital Assets Equity Index and holds 25 securities in its basket.
VanEck Vectors Digital Transformation ETF charges 50 bps in annual fees and trades in an average daily volume of 125,000. DAPP has accumulated $35.4 million in its asset base.
Invesco WilderHill Clean Energy ETF (PBW - Free Report) – Up 6.7%
Invesco WilderHill Clean Energy ETF offers exposure to companies that are publicly traded in the United States and are engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 80 stocks in its basket (read: Clean Energy ETFs Shine Amid Ukraine Crisis).
Invesco WilderHill Clean Energy ETF has amassed $969.7 million in its asset base and trades in a solid volume of around 377,000 shares a day. It charges investors 61 bps in fees per year.
VanEck Vectors Rare Earth/Strategic Metals ETF offers exposure to companies engaged in producing, refining and recycling rare earth and strategic metals and minerals. It follows the MVIS Global Rare Earth/Strategic Metals Index, holding 20 stocks in its basket.
VanEck Vectors Rare Earth/Strategic Metals ETF has AUM of $822 million and an average daily volume of 194,000 shares. From a country look, Australian firms dominate the portfolio with a 40.8% share, closely followed by China (26.3%) and the United States (14.1%). The product charges 53 bps in annual fees.
U.S. Global Jets ETF provides exposure to the global airline industry, including airline operators and manufacturers from all over the world, by tracking the U.S. Global Jets Index. The product holds 51 securities and charges 60 bps in annual fees (read: 5 ETFs Under $20 to Add to Your Portfolio).
U.S. Global Jets ETF has gathered $3 billion in its asset base while seeing a heavy trading volume of nearly 8 million shares a day. JETS has a Zacks ETF Rank #2 (Buy).
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Market Rebounds: 5 ETFs Leading the Way HIgher
After weeks of tumultuous trading, Wall Street rebounded on the May 17 trading session driven by bargain hunting. Investors jumped to buy beaten-down stocks in technology and other growth sectors.
As such, some ETFs from these sectors have gained more than 5% on the day. These include First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT - Free Report) , VanEck Vectors Digital Transformation ETF (DAPP - Free Report) , Invesco WilderHill Clean Energy ETF (PBW - Free Report) , VanEck Vectors Rare Earth/Strategic Metals ETF (REMX - Free Report) and U.S. Global Jets ETF (JETS - Free Report) . These funds seem excellent choices to play the stock market rebound.
The upbeat latest data has injected some optimism into the stock market. This is especially true as American shoppers increased retail spending in April for the fourth consecutive month. Retail sales grew 0.9% in April, indicating some signs of economic resilience as demand is still strong despite headwinds from high inflation, soaring consumer sentiment and rising interest rates.
Additionally, the reopening of some stores in Shanghai this week after a strict COVID-19 lockdown added to the strength. Further, Powell’s latest remarks that “the bigger rate hikes would be off the table for now even after the hot inflation readings” is expected to rekindle investors’ interest in risker assets once again (read: 5 Beaten-Down ETFs to Buy at Attractive Prices).
After a massive decline, U.S. stocks have become extremely cheap at current valuations. In fact, the meltdown has wiped out more than $7 trillion in market value so far this year from the blue-chip stocks in the S&P 500.
First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT - Free Report) – Up 7.4%
First Trust SkyBridge Crypto Industry and Digital Economy ETF is designed to provide exposure to companies that SkyBridge views as driving cryptocurrency, crypto assets and digital economies related innovation. SkyBridge identifies securities primarily via “bottom up” research focused on finding companies leading in the crypto industry ecosystem.
First Trust SkyBridge Crypto Industry holds 30 stocks in its basket and charges 85 bps in fees per year from investors. It has amassed $26.7 million in its asset base and trades in an average daily volume of 76,000 shares.
VanEck Vectors Digital Transformation ETF (DAPP - Free Report) – Up 7.1%
VanEck Vectors Digital Transformation ETF aims to offer exposure to companies that are at the forefront of the digital asset transformation, such as digital asset exchanges, payment gateways, digital asset mining operations, software services, equipment and technology or services to the digital asset operations, digital asset infrastructure businesses or companies facilitating commerce with the use of digital assets. VanEck Vectors Digital Transformation ETF tracks the MVIS Global Digital Assets Equity Index and holds 25 securities in its basket.
VanEck Vectors Digital Transformation ETF charges 50 bps in annual fees and trades in an average daily volume of 125,000. DAPP has accumulated $35.4 million in its asset base.
Invesco WilderHill Clean Energy ETF (PBW - Free Report) – Up 6.7%
Invesco WilderHill Clean Energy ETF offers exposure to companies that are publicly traded in the United States and are engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 80 stocks in its basket (read: Clean Energy ETFs Shine Amid Ukraine Crisis).
Invesco WilderHill Clean Energy ETF has amassed $969.7 million in its asset base and trades in a solid volume of around 377,000 shares a day. It charges investors 61 bps in fees per year.
VanEck Vectors Rare Earth/Strategic Metals ETF (REMX - Free Report) – Up 5.9%
VanEck Vectors Rare Earth/Strategic Metals ETF offers exposure to companies engaged in producing, refining and recycling rare earth and strategic metals and minerals. It follows the MVIS Global Rare Earth/Strategic Metals Index, holding 20 stocks in its basket.
VanEck Vectors Rare Earth/Strategic Metals ETF has AUM of $822 million and an average daily volume of 194,000 shares. From a country look, Australian firms dominate the portfolio with a 40.8% share, closely followed by China (26.3%) and the United States (14.1%). The product charges 53 bps in annual fees.
U.S. Global Jets ETF (JETS - Free Report) – Up 5.7%
U.S. Global Jets ETF provides exposure to the global airline industry, including airline operators and manufacturers from all over the world, by tracking the U.S. Global Jets Index. The product holds 51 securities and charges 60 bps in annual fees (read: 5 ETFs Under $20 to Add to Your Portfolio).
U.S. Global Jets ETF has gathered $3 billion in its asset base while seeing a heavy trading volume of nearly 8 million shares a day. JETS has a Zacks ETF Rank #2 (Buy).