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Fed's massive stimulus, record-bottom rates, fat fiscal stimulus in times of crisis, a divided Congress, a faster-than-expected rollout of coronavirus vaccines and chances of an antiviral treatment have been propelling the space.
The S&P 500 Index is currently trading at a forward P/E of 20.3X, which is higher than five-year and 10-year average. With holiday season approaching, investors can try these high-beta ETFs with low P/E ratios.