Wall Street was subdued last week probably because of rising COVID cases globally. Investors also started to apprehend that no stimulus measure will be announced before the U.S. election. The S&P 500, the Dow Jones and the Nasdaq Composite lost about 0.5%, 1% and 1.1%, respectively, in the past week.

Against this backdrop, below we highlight a few ETFs that bucked the losing trend last week and soared successfully.

iShares MSCI Philippines ETF (EPHE Quick QuoteEPHE - Free Report) – Up 10.3%

Philippine stocks outperformed global counterparts last week on undervaluation. Notably, Philippine stocks have underperformed on the global frame for much of this year. A decline in new Covid-19 cases was also the reason for such rally, per Bloomberg.

Global X Social Media Index ETF (SOCL Quick QuoteSOCL - Free Report) – Up 8.4%

Snap’s (SNAP) stellar earnings results apparently led to gains of the social media ETF last week as the company’s solid Q3 results acted as a cornerstone for the entire space (read: ETFs to Gain as Snap Shares Skyrocket on Stellar Q3 Earnings).

Such upbeat results bolstered investors’ sentiments toward other social media companies like Twitter TWTR and Facebook FB last week. Both companies will report earnings this month (read: Social Media ETF Surges Ahead of Key Earnings).

SPDR S&P Regional Banking ETF (KRE Quick QuoteKRE - Free Report) – Up 8.1%

Bond yields crept higher, with the 10-year yield touching a level last reached in June, as quoted on CNBC. The CNBC article indicated that strategists are expecting stimulus, now or after the election. This has boosted treasury yields.

The spread between five- and 30-year Treasuries touched nearly a four-year high. This has resulted in a steepening yield curve. This is a great scenario for regional banking stocks as these perform well in a rising rate environment.

U.S. Global Jets ETF (JETS Quick QuoteJETS - Free Report) – Up 6.8%

The underlying U.S. Global Jets Index of the fund tracks the performance of Airline Companies across the globe with an emphasis on domestic passenger airlines. More than one million passengers were screened by the Transportation Security Administration at the start of the last week, marking a new pandemic high for the airline industry, as quoted on MarketWatch. The news has boosted airlines stocks that have been under severe pressure amid the pandemic.  

iShares MSCI Chile ETF (ECH Quick QuoteECH - Free Report) – Up 6.7%

China’s recovery news boosted copper price lately. Copper price has increased to more than two-year high lately. The Chilean economy is heavily dependent on exports due to its strong commodity focus, especially copper. China’s latest property boom should favor Chile’s copper exports to the country.

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