Wall Street was off to a strong start last week on encouraging late-stage trial data for the COVID-19 vaccine candidates from Pfizer (
PFE Quick Quote PFE - Free Report) and Moderna ( MRNA Quick Quote MRNA - Free Report) . Out of the three benchmarks, the Dow Jones gained the most, reaching all-time highs since February and marking its fastest bear market recovery in 30 years. This is especially true as the benchmark took 1,483 trading days to carve out a new all-time high after hitting a bear market, per Dow Jones Market Data. However, the momentum faded to end the week as resurging new infections and the growing threat of a fresh round of economic lockdown weighed on investors’ confidence. According to a CNBC analysis of data compiled by Johns Hopkins University, the number of COVID-19 infections jumped in the United States at a record pace. The seven-day average of new cases spiked to more than 167,600, up nearly 20% compared with a week ago. The seven-day average of new cases was up at least 5% week over week in 43 states and the District of Columbia (read: Bet on Quality ETFs as Vaccine Hope & Coronavirus Cases Rise). For the last week, the S&P 500 and the Dow Jones dropped a modest 0.7% while the Nasdaq Composite Index rose 0.2%. Meanwhile, the small-cap index as depicted by the Russell 2000, gained 2.4% last week. Given this, we have highlighted a few ETFs that gained in double digits last week and continue to do so if the same trends prevail: Credit Suisse S&P MLP ETN ( MLPO Quick Quote MLPO - Free Report) – Up 19.8% This ETN is linked to the S&P MLP Index, which includes both master limited partnerships and publicly traded limited liability companies having a similar legal structure to MLPs and sharing the same tax benefits. It is unpopular and illiquid in the MLP space with AUM of $14.4 million and an average daily volume of under 1,000 shares. The note charges 95 bps in annual fees. Principal U.S. Small-MidCap Multi-Factor Core Index ETF – Up 15.9% This ETF follows the Nasdaq US Small Mid Cap Select Leaders Core Index, which uses a quantitative model designed to identify equity securities of companies in the Nasdaq US Small Cap Index and Nasdaq US Mid Cap Index that exhibit potential for high degrees of sustainable shareholder value, growth and strong momentum. It holds 650 stocks in its basket with each accounting for no more than 0.6% of assets. The fund has $10.9 million in AUM and charges 20 bps in annual fees. It trades in meager volume of under 200 shares (read: Small Caps at the Forefront of Market Rally: 5 ETF Winners). Invesco WilderHill Clean Energy ETF ( PBW Quick Quote PBW - Free Report) – Up 11.9% This fund provides exposure to U.S. companies engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds about 46 stocks in its basket with each accounting for no more than 4.4% of assets. The fund has AUM of $1.3 billion in its asset base and charges 70 bps in annual fees. iShares U.S. Oil Equipment & Services ETF ( IEZ Quick Quote IEZ - Free Report) – Up 11.1% This fund offers exposure to U.S. companies that provide equipment and services for oil exploration and extraction by tracking the Dow Jones U.S. Select Oil Equipment & Services Index. It holds 24 stocks in its basket with heavy concentration on the top two holdings — Schlumberger ( SLB Quick Quote SLB - Free Report) and Halliburton ( HAL Quick Quote HAL - Free Report) — with more than 21% share each while other firms make up for less than 5.4% of assets. The product has amassed $58.6 million in its asset base and charges 42 bps in annual fees. It trades in an average daily volume of 294,000 shares (read: Why Cyclical Sector ETFs Are Roaring to All-Time Highs). ETRACS Alerian Natural Gas MLP Index ETN – Up 10.2% MLPG is designed to track an investment in the Alerian Natural Gas MLP Index, and pay a variable quarterly coupon linked to the cash distributions associated with the underlying MLP constituents, less investor fees. It charges 85 bps in annual fees and has managed $2.6 million in its asset base. The note trades in an average daily volume of 1,000 shares. Want key ETF info delivered straight to your inbox?
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