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Last week was marked with the U.S. Presidential Inauguration, Fed’s dovish comments, hopes of fatter fiscal stimulus in the United States, China’s upbeat GDP data and the ECB’s promise to continue the accommodative approach. Meanwhile, COVID-19 vaccination is in full swing.
Overall, global markets were charged up with the S&P 500, the Dow Jones and the Nasdaq Composite gaining about 1.9%, 0.5% and 3.2%, respectively. All-world ETF iShares MSCI ACWI ETF (ACWI - Free Report) has added 1.1% last week.
The markets probably rallied because Biden started his term by signing a number of executive orders to counter the ill effects of the COVID-19 pandemic, empower environmental protection initiatives and roll back many of the Trump administration’s immigration policies.
Against this backdrop, below we highlight a few leveraged ETFs that gained at least 15% last week.
U.S. home sales unexpectedly increased in December, despite surging home prices amid record-low inventory levels.The National Association of Realtors said that existing home sales increased 0.7% to a seasonally adjusted annual rate of 6.76 million units last month. The data topped economists’ forecast of a sales decline of 2.0% to a rate of 6.55 million units in December. In any case, homebuilding sector has been in nice shape even amid the pandemic (read: 6 Reasons Why Homebuilding ETFs Are a Strong Buy).
CSI China Internet Index Bull 2X Direxion (CWEB - Free Report) ) – Up 22.4%
China’s GDP grew 6.5% in the fourth quarter of 2020, after 4.9% growth in the third quarter. The metric also beat economists’ forecast of 6.1% growth, according to a Reuters' poll. Notably, the world’s second-largest economy recorded economic growth of 2.3% in 2020. No wonder, Chinese equities will stage a rally in such a situation. China’s Internet stocks were the top-most winners in the space (read: China ETFs Ruling 52-Week High Chart on Impressive GDP Data).
Ultrashort MSCI Brazil Proshares (BZQ - Free Report) ) – Up 20.1%
Brazil’s stock market has been in great shape lately. Bankers indicated that pipeline of companies intending to hit markets may be “biggest ever.”In December, JPMorgan Chase & Co. indicated that Brazilian stocks would jump to record highs by the end of 2021 as a global economic recovery increased the demand for undervalued companies. A subdued U.S. dollar is another tailwind.
Microsectors -3X U.S. Big Banks ETN (BNKD - Free Report) ) – Up 18.9%
Big banks underperformed last week, which is why this inverse leveraged ETN gained. The underlying Solactive MicroSectors U.S. Big Banks Index is an equal-dollar weighted index and seeks to provide exposure to the 10 largest U.S. banks and financial services companies.
FANG stocks continued to rule last week as key indexes hovered around the all-time highs. Most FANG names like Facebook, Amazon, and Google parent Alphabet have rallied last week. The underlying NYSE FANG+ index includes 10 highly liquid stocks that represent a segment of the technology and consumer discretionary sectors consisting of highly traded growth stocks of technology and tech-enabled companies.
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5 Leveraged ETFs Up At Least 15% Last Week
Last week was marked with the U.S. Presidential Inauguration, Fed’s dovish comments, hopes of fatter fiscal stimulus in the United States, China’s upbeat GDP data and the ECB’s promise to continue the accommodative approach. Meanwhile, COVID-19 vaccination is in full swing.
Overall, global markets were charged up with the S&P 500, the Dow Jones and the Nasdaq Composite gaining about 1.9%, 0.5% and 3.2%, respectively. All-world ETF iShares MSCI ACWI ETF (ACWI - Free Report) has added 1.1% last week.
The markets probably rallied because Biden started his term by signing a number of executive orders to counter the ill effects of the COVID-19 pandemic, empower environmental protection initiatives and roll back many of the Trump administration’s immigration policies.
Against this backdrop, below we highlight a few leveraged ETFs that gained at least 15% last week.
Homebuilders & Suppliers Bull 3X Direxion (NAIL - Free Report) ) – Up 30%
U.S. home sales unexpectedly increased in December, despite surging home prices amid record-low inventory levels.The National Association of Realtors said that existing home sales increased 0.7% to a seasonally adjusted annual rate of 6.76 million units last month. The data topped economists’ forecast of a sales decline of 2.0% to a rate of 6.55 million units in December. In any case, homebuilding sector has been in nice shape even amid the pandemic (read: 6 Reasons Why Homebuilding ETFs Are a Strong Buy).
CSI China Internet Index Bull 2X Direxion (CWEB - Free Report) ) – Up 22.4%
China’s GDP grew 6.5% in the fourth quarter of 2020, after 4.9% growth in the third quarter. The metric also beat economists’ forecast of 6.1% growth, according to a Reuters' poll. Notably, the world’s second-largest economy recorded economic growth of 2.3% in 2020. No wonder, Chinese equities will stage a rally in such a situation. China’s Internet stocks were the top-most winners in the space (read: China ETFs Ruling 52-Week High Chart on Impressive GDP Data).
Ultrashort MSCI Brazil Proshares (BZQ - Free Report) ) – Up 20.1%
Brazil’s stock market has been in great shape lately. Bankers indicated that pipeline of companies intending to hit markets may be “biggest ever.”In December, JPMorgan Chase & Co. indicated that Brazilian stocks would jump to record highs by the end of 2021 as a global economic recovery increased the demand for undervalued companies. A subdued U.S. dollar is another tailwind.
Microsectors -3X U.S. Big Banks ETN (BNKD - Free Report) ) – Up 18.9%
Big banks underperformed last week, which is why this inverse leveraged ETN gained. The underlying Solactive MicroSectors U.S. Big Banks Index is an equal-dollar weighted index and seeks to provide exposure to the 10 largest U.S. banks and financial services companies.
Microsectors Fang+ 3X ETN (FNGU - Free Report) ) – Up 18.5%
FANG stocks continued to rule last week as key indexes hovered around the all-time highs. Most FANG names like Facebook, Amazon, and Google parent Alphabet have rallied last week. The underlying NYSE FANG+ index includes 10 highly liquid stocks that represent a segment of the technology and consumer discretionary sectors consisting of highly traded growth stocks of technology and tech-enabled companies.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>