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Wall Street was extremely upbeat last week with the S&P 500 (up 2.82%), the Dow Jones (up 1.64%), the Nasdaq (up 3.87%) and the Russell 2000 (up 3.24%) offering stellar gains. The S&P 500 even hit the 4,000-mark last week. Solid U.S. economic data points led to this upsurge.
The March jobs data came in better than expected. Revisions added 156,000 jobs to the totals for January and February. The U.S. manufacturing index jumped to a 38-year high. Tech stocks were also bullish last week and were mainly responsible for the S&P 500’s achievement. The tech-heavy Nasdaq also benefited from the trend. Last week also witnessed President Joe Biden’s $2.3 trillion infrastructure plan (read: ETFs to Win on Biden's Infrastructure Plan).
While the fear for tax hikes also unnerved investors, talks are doing rounds that the actual hike may come across as less than what has been proposed by President Biden. Also, the President made it clear that the tax burden on anyone making less than $400,000 per year will not be increased. As a downside, COVID-19 cases have been rising globally.
Against this backdrop, below we highlight a few leveraged ETF areas that were winners last week.
The underlying Entrepreneur 30 Index comprises 30 US Companies with the highest market capitalizations and composite scores based on six criteria - management, compensation, revenue, ownership, profitability and company statistics. The fund charges 49 bps in fees.
The underlying Dynamic Semiconductor Intellidex Index is comprised of stocks of semiconductor companies. The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The fund charges 57 bps in fees.
Transformational Data Sharing Amplify ETF (BLOK - Free Report) – Up 10.5%
The Amplify Transformational Data Sharing ETF is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets in the equity securities of companies actively involved in the development and utilization of transformational data sharing technologies. The fund charges 71 bps in fees (read: Top ETF Stories of First Quarter).
The underlying MVIS Global Rare Earth/Strategic Metals Index tracks the overall performance of companies involved in producing, refining, and recycling of rare earth and strategic metals and minerals. The fund charges 60 bps in fees.
The underlying Indxx Global CleanTech Index provides exposure to companies adopting technologies focused on improving efficiency of renewable energy production & mitigating the adverse environmental effects of resource consumption; & companies developing technology relating to renewable energy, energy efficiency & storage, smart grid, lithium-ion batteries, fuel cells & pollution prevention. The fund charges 50 bps in fees.
The underlying Solactive Global Copper Miners Total Return Index is designed to reflect the performance of the copper mining industry. It is comprised of selected companies globally that are actively engaged in some aspect of the copper mining industry, such as copper mining, refining, or exploration. The fund charges 65 bps in fees.
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Top-Performing ETFs of Last Week
Wall Street was extremely upbeat last week with the S&P 500 (up 2.82%), the Dow Jones (up 1.64%), the Nasdaq (up 3.87%) and the Russell 2000 (up 3.24%) offering stellar gains. The S&P 500 even hit the 4,000-mark last week. Solid U.S. economic data points led to this upsurge.
The March jobs data came in better than expected. Revisions added 156,000 jobs to the totals for January and February. The U.S. manufacturing index jumped to a 38-year high. Tech stocks were also bullish last week and were mainly responsible for the S&P 500’s achievement. The tech-heavy Nasdaq also benefited from the trend. Last week also witnessed President Joe Biden’s $2.3 trillion infrastructure plan (read: ETFs to Win on Biden's Infrastructure Plan).
While the fear for tax hikes also unnerved investors, talks are doing rounds that the actual hike may come across as less than what has been proposed by President Biden. Also, the President made it clear that the tax burden on anyone making less than $400,000 per year will not be increased. As a downside, COVID-19 cases have been rising globally.
Against this backdrop, below we highlight a few leveraged ETF areas that were winners last week.
Entrepreneur 30 Fund (ENTR - Free Report) – Up 14%
The underlying Entrepreneur 30 Index comprises 30 US Companies with the highest market capitalizations and composite scores based on six criteria - management, compensation, revenue, ownership, profitability and company statistics. The fund charges 49 bps in fees.
Dynamic Semiconductors Invesco ETF (PSI - Free Report) – Up 10.9%
The underlying Dynamic Semiconductor Intellidex Index is comprised of stocks of semiconductor companies. The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The fund charges 57 bps in fees.
Transformational Data Sharing Amplify ETF (BLOK - Free Report) – Up 10.5%
The Amplify Transformational Data Sharing ETF is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets in the equity securities of companies actively involved in the development and utilization of transformational data sharing technologies. The fund charges 71 bps in fees (read: Top ETF Stories of First Quarter).
Rare Earth/Strategic Metals Vaneck ETF (REMX - Free Report) – Up 9.6%
The underlying MVIS Global Rare Earth/Strategic Metals Index tracks the overall performance of companies involved in producing, refining, and recycling of rare earth and strategic metals and minerals. The fund charges 60 bps in fees.
Global X Cleantech ETF (CTEC - Free Report) – Up 9.0%
The underlying Indxx Global CleanTech Index provides exposure to companies adopting technologies focused on improving efficiency of renewable energy production & mitigating the adverse environmental effects of resource consumption; & companies developing technology relating to renewable energy, energy efficiency & storage, smart grid, lithium-ion batteries, fuel cells & pollution prevention. The fund charges 50 bps in fees.
Global-X Copper Miners ETF (COPX - Free Report) – Up 7.95%
The underlying Solactive Global Copper Miners Total Return Index is designed to reflect the performance of the copper mining industry. It is comprised of selected companies globally that are actively engaged in some aspect of the copper mining industry, such as copper mining, refining, or exploration. The fund charges 65 bps in fees.
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 >>