The S&P 500 has probably logged its best week since November 2020. The S&P 500 has gained for four consecutive days this week, up 6.2%, marking its best week since November 2020. The blue-chip Dow is rose 5.5% for the week and logged its biggest weekly gain since November 2020. The tech-heavy Nasdaq Composite was up 8.2% last week, probably marking its best week since February 2021.

Earlier last week, the U.S. central bank hiked its benchmark interest rate for the first time since 2018 and hinted at six more hikes this year. But the move was anticipated and hence there was no wild reaction in the market. Meanwhile, investors are hopeful about chances of a ceasefire between Russia and Ukraine as the United States too discussed with China (which is apparently backing Russia) to bring up peace between the two countries.

“Fortunately, investor expectations for inflation over the next five years was brought down quite a bit, which, if sustained, will continue [to] be helpful for the Fed and the markets despite somewhat higher interest rates,” said John Vail, chief global strategist at Nikko Asset Management, as quoted on CNBC.

There was upbeat news on the China market. China’s stocks and ETFs registered a massive leap on Mar 16 after the country’s state council promised to keep its stock market steady amid a rout that washed off $1.5 trillion in value over the past two sessions.

Notably, China recorded a sharp rise in COVID-19 cases last week, which resulted in lockdowns in the key manufacturing hubs. But J.P Morgan and Credit Suisse expect China’s high COVID cases to have minimal impact on GDP, as quoted on Reuters.

Against this backdrop, below we highlight a few ETFs that gained at least 20% last week.

ETFs in Focus

Golden Dragon China Invesco ETF (PGJ Quick QuotePGJ - Free Report) – Up 26.7%

The NASDAQ Golden Dragon China Index currently comprises 38 U.S. exchange-listed stocks of companies that derive the majority of their revenues from the Peoples Republic of China. The fund charges 69 bps in fees.

Ark Fintech Innovation ETF ARKF – Up 22.8%

The ARK Fintech Innovation ETF is actively managed and seeks long-term growth of capital. The fund takes into consideration stocks that are deemed to be engaged in the theme of Fintech innovation.  The fund charges 75 bps in fees.

First Trust Dow Jones International Internet ETF (FDN Quick QuoteFDN - Free Report) I) – Up 22.5%

The underlying Dow Jones International Internet Index is a float-adjusted market capitalization-weighted index designed to measure the performance of the 40 largest and most actively traded non-U.S. international companies in the Internet industry that are engaged in Internet commerce and Internet services. The fund charges 65 bps in fees.

Global X Emerging Markets Internet & E-Commerce ETF – Up 21.9%

The underlying Nasdaq CTA Emerging Markets Internet & E-commerce Net Total Return Index provides exposure to exchange-listed companies that are expected to benefit from further adoption of internet and e-commerce technologies in emerging markets countries. The fund charges 65 bps in fees.

Amplify International Online Retail ETF – Up 21.0%

The underlying EQM Emerging Markets Fintech Index seeks to measure the performance of equity securities issued by emerging market and frontier market companies that derive at least 50% of their revenue from financial technology. The fund charges 69 bps in fees.