Wall Street was moderate last week. The S&P 500, the Dow Jones and the Russell 2000 lost about 0.4%, 0.5% and 0.4%, respectively while the Nasdaq Composite gained about 0.3%. Rising Inflation has been playing foul on the stock market lately.
Federal Reserve officials showed cautious optimism about U.S. economic recovery at the central bank’s April meeting, with some officials intending to discuss the scaling back of its massive bond purchases “at some point” (read:
Taper Talks to Start Soon? ETFs to Win).
This has contributed to rising rate worries and caused occasional slump in the market. On the other hand, a flare-up in coronavirus cases in parts of Asia has sparked concerns over the pace of a global economic recovery.
India and other parts of Southeast Asia are fighting a fresh surge in cases and imposing fresh lockdowns, with relatively slow vaccine rollouts and delays in reopening the economy (read:
Looking for Quality Exposure? Buy These ETFs).
Against this backdrop, below we highlight a few ETFs that won last week.
ETFs in Focus Breakwave Dry Bulk Shipping ETF ( BDRY Quick Quote BDRY - Free Report) – Up 17.0%
The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. The fund has been super strong in the recent months. The pickup in global economic growth has supported the dry bulk shipping rates. Gradually rising demand across all vessel categories has mainly aided the area and the related fund.
ETF Series Solutions Defiance Next Gen H2 ETF ( HDRO Quick Quote HDRO - Free Report) – Up 9.5%
The BlueStar Hydrogen & NextGen Fuel Cell Index is a rules-based and tracks the performance of a group of globally listed equity securities of companies involved in the development of hydrogen-based energy sources and fuel cell technologies. The fund has benefited from the clean energy rally happened last week.
Solar Invesco ETF ( TAN Quick Quote TAN - Free Report) – Up 8.2%
The fund is winner from the clean energy rally. China’s president Xi reiterated his vows to turn his country carbon neutral by 2060. China will start tapering coal use from 2026. In the United States too, President Biden is voicing for clean energy transition. Europe’s efforts to become a green continent is also pretty prevalent.
Global X Cleantech ETF ( CTEC Quick Quote CTEC - Free Report) – Up 7.1%
This is yet another winner of the clean energy stock gains. 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.
Alps ETF Trust Sprott Junior Gold ( SGDJ Quick Quote SGDJ - Free Report) – Up 7.0%
As the markets went volatile, demand for safe-haven assets like gold went up. This, in turn, boosted the gold mining stocks. The underlying Solactive Junior Gold Miners Custom Factors Index aims to track the performance of small-capitalization gold companies whose stocks are listed on regulated exchanges.
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 >>