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Last week was downbeat for Wall Street. The S&P 500 (down 0.8%), the Dow Jones (down 0.5%), the Nasdaq Composite (down 0.8%) and the small-cap Russell 2000 (down 2.8%) were all on a volatile ride due to rising rate worries. Meanwhile, retail sales for the month of February came in downbeat, which added to the somber market sentiments. Moreover, the rout in the tech space went on last week (read: Time to Buy These Undervalued Tech ETFs on the Dip?).
Against this backdrop, below we highlight a few ETF areas that won last week.
Dry Bulk Shipping
This area has been on a winning streak. The pickup in global economic growth has supported the dry bulk shipping rates. Gradually rising demand across all vessel categories have probably aided the area and the related fund (read: Top & Flop Zones of 2020 and Their ETFs).
Breakwave Dry Bulk Shipping ETF (BDRY - Free Report) has added about 27.9% past week. The underlying index of the fund Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC measures rates for shipping dry bulk freight. It provides exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices.
Palladium
Palladium prices have gained momentum again and some market experts see the likelihood for a new breakout as the market is heading a deeper supply deficit in 2021. Recently, the world's largest palladium producer Nornickel said that its nickel, copper, platinum, and palladium output could be 15-20% lower from its original guidance. Such guidance is enough to push Physical Palladium ETF (PALL - Free Report) by 11.2% higher last week (read: 3 Reasons Why Commodities ETFs May Rally in 2021).
Veteran Employers
This corner of the investing world probably has gained on the high demand for ESG investing. Victoryshares Top Veteran Employers ETF (up 7.1%) and Pacer Military Times Best Employers ETF (VETS) (up 6.9%) both were the winners in the segment.
The fund VTRN consists of publicly traded companies that champion the hiring and professional development of U.S. military veterans while the fund VETS looks to track the total return performance of the Military Times Best for Vets Index.
Uranium Mining
Uranium miners got a boost from improving supply/demand dynamics as well as push for more clean energy projects. Additionally, most of the stocks are undervalued, making them a bargain hunt for investors. Northshore Global Uranium Mining ETF (URNM - Free Report) , which provides exposure to companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets, has gained 5.5% last week.
Japan Small-Caps
Bank of Japan said it might lower its short-term interest rate to minus 0.2% or further from minus 0.1% now, and it presented a policy for doing so without hurting commercial banks’ profitability. It also said it would give incentives to boost lending, per Wall Street Journal. Central bank’s such move was aimed at boosting inflation and warding off deflationary pressure. Wisdomtree Japan Smallcap Fund (DFJ - Free Report) added 5.1% last week.
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Top ETF Areas of Last Week
Last week was downbeat for Wall Street. The S&P 500 (down 0.8%), the Dow Jones (down 0.5%), the Nasdaq Composite (down 0.8%) and the small-cap Russell 2000 (down 2.8%) were all on a volatile ride due to rising rate worries. Meanwhile, retail sales for the month of February came in downbeat, which added to the somber market sentiments. Moreover, the rout in the tech space went on last week (read: Time to Buy These Undervalued Tech ETFs on the Dip?).
Against this backdrop, below we highlight a few ETF areas that won last week.
Dry Bulk Shipping
This area has been on a winning streak. The pickup in global economic growth has supported the dry bulk shipping rates. Gradually rising demand across all vessel categories have probably aided the area and the related fund (read: Top & Flop Zones of 2020 and Their ETFs).
Breakwave Dry Bulk Shipping ETF (BDRY - Free Report) has added about 27.9% past week. The underlying index of the fund Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC measures rates for shipping dry bulk freight. It provides exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices.
Palladium
Palladium prices have gained momentum again and some market experts see the likelihood for a new breakout as the market is heading a deeper supply deficit in 2021. Recently, the world's largest palladium producer Nornickel said that its nickel, copper, platinum, and palladium output could be 15-20% lower from its original guidance. Such guidance is enough to push Physical Palladium ETF (PALL - Free Report) by 11.2% higher last week (read: 3 Reasons Why Commodities ETFs May Rally in 2021).
Veteran Employers
This corner of the investing world probably has gained on the high demand for ESG investing. Victoryshares Top Veteran Employers ETF (up 7.1%) and Pacer Military Times Best Employers ETF (VETS) (up 6.9%) both were the winners in the segment.
The fund VTRN consists of publicly traded companies that champion the hiring and professional development of U.S. military veterans while the fund VETS looks to track the total return performance of the Military Times Best for Vets Index.
Uranium Mining
Uranium miners got a boost from improving supply/demand dynamics as well as push for more clean energy projects. Additionally, most of the stocks are undervalued, making them a bargain hunt for investors. Northshore Global Uranium Mining ETF (URNM - Free Report) , which provides exposure to companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets, has gained 5.5% last week.
Japan Small-Caps
Bank of Japan said it might lower its short-term interest rate to minus 0.2% or further from minus 0.1% now, and it presented a policy for doing so without hurting commercial banks’ profitability. It also said it would give incentives to boost lending, per Wall Street Journal. Central bank’s such move was aimed at boosting inflation and warding off deflationary pressure. Wisdomtree Japan Smallcap Fund (DFJ - Free Report) added 5.1% last week.
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 >>