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Wall Street delivered a decent performance last month with the S&P 500 and the Dow Jones adding 1.5% each and the Nasdaq Composite gaining about 3.1%. The Russell 2000 Index has advanced about 2.3% past month.
A few updates led to this result. Optimism about corporate earnings and upbeat economic data points and the passage of the infrastructure bill helped key U.S. equity indexes go higher. News of zero new cases in China and U.S. FDA’s full approval of Pfizer-BioNTech Covid-19 vaccine also led to the strength in the market.
However, taper talks were ripe in the month, which unsteadied the market momentum initially. But things ended the month on a better note with no new flare-up in taper talks and the moderate strength in the greenback.
Against this backdrop, below we highlight a few ETFs that won last month.
Blockchain
Bitcoin rallied near $49,000 on the back of rising mainstream acceptance. Investors probably chose to invest in bitcoin-related products through much stable investing options like blockchain or digital transformation ETFs. As a result, the following ETFs shot up last month.
The Solactive Blockchain Index provides exposure to companies that are positioned to benefit from further advances in the field of blockchain technology.
Vaneck Digital Transformation ETF (DAPP) – Up 20.6%
Shipping
Gradual global reopening continues to help this fund. A commodity boom is driving the prices as demand for shipping is high. Ultra-easy monetary and fiscal policies as well as supply chain issues and higher demand from e-commerce companies are also boosting the shipping ETF BDRY. The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. (read: This Multibagger ETF Still Looks Like a Buy: Here's Why).
Most Latin American currencies rallied recently as U.S. Federal Reserve Chair Jerome Powell apparently reassured markets for some more days of super-easy monetary policy.
The COVID-19 pandemic and the resultant work-learn-shop-from-home culture boosted the need for the already in-vogue digitization, accelerating the demand for various products and devices dependent on chips for their functioning.
Demand for PCs, smart phones, gaming hardware and consoles increased. Then there is demand rooting from the electric vehicle and telecom industry. All these products rely on chips, which boosted the demand for semiconductors (read: Semiconductor ETFs A Great Bet Now: Here's Why).
Delta variant continues to be a major concern as the number of cases is rising in the world’s largest economy. Hence, the stay-at-home trend and greater focus on online activities like eSports will be in focus.
The biotech space has gained attention on positive COVID-19 vaccine update. The FDA has granted the first full U.S. approval to Pfizer (PFE) /BioNTech’s (BNTX) coronavirus vaccine. There were more positive news in the space. Sanofi has agreed to acquire U.S. biotech company Translate Bio in a $3.2 billion deal, as it wants to strengthen its position in the next-generation mRNA vaccine technology. Pfizer agreed to buy Canadian drug developer Trillium Therapeutics (TRIL) for a $2.26 billion deal to strengthen its arsenal of blood cancer therapies.
Etfmg Treatments Testing and Advancements ETF (GERM - Free Report) – Up 11.95%
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6 Best ETF Areas of August
Wall Street delivered a decent performance last month with the S&P 500 and the Dow Jones adding 1.5% each and the Nasdaq Composite gaining about 3.1%. The Russell 2000 Index has advanced about 2.3% past month.
A few updates led to this result. Optimism about corporate earnings and upbeat economic data points and the passage of the infrastructure bill helped key U.S. equity indexes go higher. News of zero new cases in China and U.S. FDA’s full approval of Pfizer-BioNTech Covid-19 vaccine also led to the strength in the market.
However, taper talks were ripe in the month, which unsteadied the market momentum initially. But things ended the month on a better note with no new flare-up in taper talks and the moderate strength in the greenback.
Against this backdrop, below we highlight a few ETFs that won last month.
Blockchain
Bitcoin rallied near $49,000 on the back of rising mainstream acceptance. Investors probably chose to invest in bitcoin-related products through much stable investing options like blockchain or digital transformation ETFs. As a result, the following ETFs shot up last month.
The Solactive Blockchain Index provides exposure to companies that are positioned to benefit from further advances in the field of blockchain technology.
Global X Blockchain ETF (BKCH - Free Report) – Up 22%
Vaneck Digital Transformation ETF (DAPP) – Up 20.6%
Shipping
Gradual global reopening continues to help this fund. A commodity boom is driving the prices as demand for shipping is high. Ultra-easy monetary and fiscal policies as well as supply chain issues and higher demand from e-commerce companies are also boosting the shipping ETF BDRY. The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. (read: This Multibagger ETF Still Looks Like a Buy: Here's Why).
Breakwave Dry Bulk Shipping ETF (BDRY - Free Report) – Up 21.8%
Argentina
Most Latin American currencies rallied recently as U.S. Federal Reserve Chair Jerome Powell apparently reassured markets for some more days of super-easy monetary policy.
Global X MSCI Argentina ETF (ARGT - Free Report) – Up 16.4%
Argentina iShares MSCI ETF (AGT) – Up 16.1%
Semiconductors
The COVID-19 pandemic and the resultant work-learn-shop-from-home culture boosted the need for the already in-vogue digitization, accelerating the demand for various products and devices dependent on chips for their functioning.
Demand for PCs, smart phones, gaming hardware and consoles increased. Then there is demand rooting from the electric vehicle and telecom industry. All these products rely on chips, which boosted the demand for semiconductors (read: Semiconductor ETFs A Great Bet Now: Here's Why).
S&P Semiconductor SPDR (XSD - Free Report) – Up 13.9%
eSports
Delta variant continues to be a major concern as the number of cases is rising in the world’s largest economy. Hence, the stay-at-home trend and greater focus on online activities like eSports will be in focus.
Roundhill Sports Betting & iGaming ETF (BETZ - Free Report) – Up 12.9%
Biotech
The biotech space has gained attention on positive COVID-19 vaccine update. The FDA has granted the first full U.S. approval to Pfizer (PFE) /BioNTech’s (BNTX) coronavirus vaccine. There were more positive news in the space. Sanofi has agreed to acquire U.S. biotech company Translate Bio in a $3.2 billion deal, as it wants to strengthen its position in the next-generation mRNA vaccine technology. Pfizer agreed to buy Canadian drug developer Trillium Therapeutics (TRIL) for a $2.26 billion deal to strengthen its arsenal of blood cancer therapies.
Etfmg Treatments Testing and Advancements ETF (GERM - Free Report) – Up 11.95%