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Wall Street was downbeat last week. Each of the key equity gadgets — the S&P 500 (down 0.7%), the Dow Jones (down 0.01%), the Nasdaq Composite (down 1.6%) and the Russell 2000 (down 1.8%) — lost last week. Rising rate worries and recessionary fears were the key concerns.
There was much good news for China’s markets last week. The dual tailwind of easing tensions between the United States and China as well as the easing of zero-COVID restrictions, triggered a huge rally (read: Bet on China ETFs on a Solid Turnaround).
Investors now see warmer ties between the world’s two largest economies after the G20 (Group of Twenty) summit. This would reduce delisting risks for hundreds of New York-listed Chinese firms and boost the outlook for trade. Additionally, China’s supportive measures to its struggling real estate market added to the strength.
There were ups and downs in the semiconductor space too. Warren Buffett’s Berkshire Hathaway Inc. (BRK-B) grabbed a stake of about $5 billion in Taiwan Semiconductor Manufacturing Co.TSM, as the veteran investor thinks the world’s leading chipmaker has bottomed out after a selloff of more than $250 billion.
Shares of Taiwan Semiconductor Manufacturing Company Limited shot up last week and acted as a cornerstone for the entire semiconductor space. However, Nvidia’s downbeat Q3 earnings finally weighed on the semiconductor space. Hence, VanEck Semiconductor ETFSMH added 0.3% past week (read: Should You Buy Taiwan Semiconductor-Heavy ETFs Now?).
Against this backdrop, below we highlight a few top-performing ETFs of last week.
ETFs in Focus
Credit Suisse S&P MLP Index ETN – Up 37.1% Past Week
The underlying S&P MLP Index includes both master limited partnerships and publicly traded limited liability companies which have a similar legal structure to MLPs and share the same tax benefits as MLPs.
Tuttle Capital Short Innovation ETF (SARK - Free Report) – Up 10.5% Last Week
This ETF is active and does not track a benchmark. The AXS Short Innovation Daily ETF seeks the daily inverse investment results and is intended to be used as a short-term trading vehicle. The fund charges 75 bps in fees.
Loncar China Biopharma ETF – Up 8.9% Last Week
Biopharmaceuticals in China is a rewarding business. China’s healthcare market is predicted to grow from around $900 billion (RMB 6.47 trillion) in 2019 to $2.3 trillion (RMB 16.53 trillion) in 2030. Specifically, to the biopharma industry, the market size will likely increase from RMB 345.7 billion ($47.60 billion) in 2020 to RMB 811.6 billion ($111.76 billion) in 2025, marking an 135% uptick in five years.
Graniteshares 1X Short Tesla Daily ETF – Up 8.7% Last Week
Tesla Inc recalled nearly 30,000 Model X cars in the United States over an issue that may cause the front passenger air bag to deploy incorrectly, sending its shares to their lowest in nearly two years. As a result, inverse Tesla ETF jumped last week.
iPatha.B Tin Subindex TR ETN – Up 7.6% Last Week
Tin market analyst James Willoughby said the underlying tin market conditions may help prices in the final quarter of 2022, despite macroeconomic pressures. “There are early signs that demand may be beginning to ramp up for the holiday season,” per the analyst.
Analysts are pointing to Indonesia, the world’s largest exporter of the metal, is considering a ban on tin export to boost its processing industry. However, the Joko Widodo government has not decided on banning exports yet or when it will impose the ban, per a source.
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5 Best-Performing ETFs of Last Week
Wall Street was downbeat last week. Each of the key equity gadgets — the S&P 500 (down 0.7%), the Dow Jones (down 0.01%), the Nasdaq Composite (down 1.6%) and the Russell 2000 (down 1.8%) — lost last week. Rising rate worries and recessionary fears were the key concerns.
There was much good news for China’s markets last week. The dual tailwind of easing tensions between the United States and China as well as the easing of zero-COVID restrictions, triggered a huge rally (read: Bet on China ETFs on a Solid Turnaround).
Investors now see warmer ties between the world’s two largest economies after the G20 (Group of Twenty) summit. This would reduce delisting risks for hundreds of New York-listed Chinese firms and boost the outlook for trade. Additionally, China’s supportive measures to its struggling real estate market added to the strength.
There were ups and downs in the semiconductor space too. Warren Buffett’s Berkshire Hathaway Inc. (BRK-B) grabbed a stake of about $5 billion in Taiwan Semiconductor Manufacturing Co. TSM, as the veteran investor thinks the world’s leading chipmaker has bottomed out after a selloff of more than $250 billion.
Shares of Taiwan Semiconductor Manufacturing Company Limited shot up last week and acted as a cornerstone for the entire semiconductor space. However, Nvidia’s downbeat Q3 earnings finally weighed on the semiconductor space. Hence, VanEck Semiconductor ETF SMH added 0.3% past week (read: Should You Buy Taiwan Semiconductor-Heavy ETFs Now?).
Against this backdrop, below we highlight a few top-performing ETFs of last week.
ETFs in Focus
Credit Suisse S&P MLP Index ETN – Up 37.1% Past Week
The underlying S&P MLP Index includes both master limited partnerships and publicly traded limited liability companies which have a similar legal structure to MLPs and share the same tax benefits as MLPs.
Tuttle Capital Short Innovation ETF (SARK - Free Report) – Up 10.5% Last Week
This ETF is active and does not track a benchmark. The AXS Short Innovation Daily ETF seeks the daily inverse investment results and is intended to be used as a short-term trading vehicle. The fund charges 75 bps in fees.
Loncar China Biopharma ETF – Up 8.9% Last Week
Biopharmaceuticals in China is a rewarding business. China’s healthcare market is predicted to grow from around $900 billion (RMB 6.47 trillion) in 2019 to $2.3 trillion (RMB 16.53 trillion) in 2030. Specifically, to the biopharma industry, the market size will likely increase from RMB 345.7 billion ($47.60 billion) in 2020 to RMB 811.6 billion ($111.76 billion) in 2025, marking an 135% uptick in five years.
Graniteshares 1X Short Tesla Daily ETF – Up 8.7% Last Week
Tesla Inc recalled nearly 30,000 Model X cars in the United States over an issue that may cause the front passenger air bag to deploy incorrectly, sending its shares to their lowest in nearly two years. As a result, inverse Tesla ETF jumped last week.
iPatha.B Tin Subindex TR ETN – Up 7.6% Last Week
Tin market analyst James Willoughby said the underlying tin market conditions may help prices in the final quarter of 2022, despite macroeconomic pressures. “There are early signs that demand may be beginning to ramp up for the holiday season,” per the analyst.
Analysts are pointing to Indonesia, the world’s largest exporter of the metal, is considering a ban on tin export to boost its processing industry. However, the Joko Widodo government has not decided on banning exports yet or when it will impose the ban, per a source.