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5 Top-Performing ETFs of Last Week

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Wall Street was upbeat last week. The S&P 500, the Dow Jones and the Nasdaq Composite advanced about 2.4%, 2% and 2.2%, respectively last week. Easing inflation has helped the broader market to gain strength. The Personal Consumption Expenditures (PCE) index advanced 3.8% versus April's 4.3%, and excluding volatile food and energy, the core PCE index gained 0.3%, down from 0.4% in the previous month.

There were also some significant developments in individual stocks. Apple reached a $3 trillion market valuation for the first time since January 2022???. Despite these positive developments, some concerns remain. Traders were pricing in an 84.3% chance that the Fed will hike rates by 25 basis points to a 5.25%-5.50% range in its July meeting.

Against this backdrop, below we highlight a few top-performing ETF Areas of last week.

ETFs in Focus

KraneShares Global Carbon Offset Strategy ETF – Up 27.6%

New guidelines by the Voluntary Carbon Market Integrity Initiative (VCMI) recently announced new guidelines aimed at ensuring carbon offset integrity and use. The new guidelines are part of an overhaul aimed at injecting greater transparency and integrity into the voluntary carbon offset market. This is expected to increase investor confidence and accelerate adoption, which is beneficial for KSET. Companies must follow a specific reporting process to make a claim through VCMI, ensuring companies are only purchasing higher quality offsets and holding them to net-zero goals.

Defiance Pure Electric Vehicle ETF – Up 14.4%

There has been a significant push toward more sustainable transport globally. Electric vehicle sales have surged amid this movement, and the market share of EVs is expected to grow in the coming years. Stricter fuel emission standards and the rollout of more vehicle charging stations under supportive administrations are accelerating the adoption of EVs.

Invesco WilderHill Clean Energy ETF (PBW - Free Report) – Up 9.2%

The Biden administration's favorable policies towards clean energy, such as stricter fuel emission standards, tax-based incentives for EV buyers, and the rollout of more vehicle charging stations, are contributing to the growth of clean energy stocks. This supportive policy environment is accelerating the transition to cleaner energy sources, which in turn is positively impacting clean energy ETFs.

First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT - Free Report) – Up 8.5%

Most cryptocurrency prices showed positive gains, although bitcoin slightly decreased after surpassing the $31,000 mark. While BlackRock's application for a bitcoin ETF inspired enthusiasm among investors, HSBC Bank too introduced its own offerings for bitcoin and ethereum. Last week, the largest cryptocurrency in the world reached its highest value in more than a year, following the pursuit of regulatory approval for BTC exchange traded funds by prominent investment firms.

SPDR S&P Oil & Gas Equipment & Services ETF (XES - Free Report) – Up 8.1%

The WTI crude oil prices gained 1.3% last week. This happened because Saudi Arabia - the world's largest oil producer – will commence voluntary crude oil output cuts which are set to kick in this month, starting from July 1, amid a tighter market which is currently reeling under pressure emanated from global growth slowdown and higher rates. This has boosted this energy ETF.

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