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Wall Street was downbeat last week, with the S&P 500, the Dow Jones and the Nasdaq losing about 0.7%, 1.3% and 0.1%, respectively. Last week marked the fourth straight week of losses for the S&P 500. The S&P 500 dropped 4.9% in September, its worst monthly performance since December, according to FactSet data, as quoted on MarketWatch.
Inside Key Events of Last Week
The greenback has been in solid shape. Invesco DB US Dollar Index Bullish Fund (UUP - Free Report) was up 0.3% last week. Since gold is inversely related to the U.S. dollar, gold prices slumped last week. Moreover, inflation is also falling. Since gold acts as an inflation-hedge, a falling inflation scenario went against gold prices. SPDR Gold Shares (GLD - Free Report) was off 3.5% last week.
The benchmark U.S. treasury yield was 4.59% on Sep 29 having started the month at 4.18%. The yield hit a monthly high of 4.61% on Sep 27. Such steep rise in bond yields weighed on sectors that are rate-sensitive. Meanwhile, though Autoworkers strike expanded against GM and Ford last week, there was a huge rally in electric vehicle stocks like Rivian, Lucid and Nikola.
On a separate note, cryptocurrency market remained charged-up. Bitcoin prices rose 2.8% last week. Many Ether futures-based ETFs are expected to launch this week. Since Coinbase's (COIN - Free Report) reputation as a reliable custodian for digital assets has been boosted by its stringent safety and compliance measures, such events helped Coinbase shares as well last week.
Against this backdrop, below we highlight a few winning ETFs of last week.
The Simplify Interest Rate Hedge ETF seeks to hedge interest rate movements arising from rising long-term interest rates, and to benefit from market stress when fixed income volatility increases, while providing the potential for income. The fund charges 50 bps in fees.
YieldMax COIN Option Income Strategy ETF (CONY - Free Report) – Up 5.4%
This ETF is active and does not track a benchmark. The YieldMax COIN Option Income Strategy ETF is an actively managed fund that seeks to generate monthly income by writing call options on COIN. The expense ratio of the fund is 0.99%.
This ETF is active and does not track a benchmark. The Spear Alpha ETF invests in companies that are poised to benefit from breakthrough trends in industrial technology. The fund charges 75 bps in fees.
The underlying North Shore Global Uranium Mining Index seeks to track the performance of companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets. The fund charges 85 bps in fees.
Global X Education ETF – Up 3.7%
The underlying Indxx Global Education Thematic Index tracks the performance of companies listed in developed and emerging markets that provide products and services that facilitate education, including but not limited to companies involved in online learning and educational content/publishing, as well as early childhood education, higher education and professional education. The fund charges 50 bps in fees.
September was an eventful month for initial public offerings with many high-end IPOs hitting the market. The Renaissance IPO Index is a portfolio of newly U.S.-listed initial public offerings of companies whose unseasoned equities are under-represented in core U.S. equity indices. IPOs that meet liquidity & operational screens are included in the Index at the end of the fifth day of trading, or upon quarterly reviews, weighted by tradable float, capped at 10% & removed after two years. The fund charges 60 bps in fees (read: IPO ETFs Look Hot in September: Here's Why).
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Top-Performing ETF Areas of Last Week
Wall Street was downbeat last week, with the S&P 500, the Dow Jones and the Nasdaq losing about 0.7%, 1.3% and 0.1%, respectively. Last week marked the fourth straight week of losses for the S&P 500. The S&P 500 dropped 4.9% in September, its worst monthly performance since December, according to FactSet data, as quoted on MarketWatch.
Inside Key Events of Last Week
The greenback has been in solid shape. Invesco DB US Dollar Index Bullish Fund (UUP - Free Report) was up 0.3% last week. Since gold is inversely related to the U.S. dollar, gold prices slumped last week. Moreover, inflation is also falling. Since gold acts as an inflation-hedge, a falling inflation scenario went against gold prices. SPDR Gold Shares (GLD - Free Report) was off 3.5% last week.
The benchmark U.S. treasury yield was 4.59% on Sep 29 having started the month at 4.18%. The yield hit a monthly high of 4.61% on Sep 27. Such steep rise in bond yields weighed on sectors that are rate-sensitive. Meanwhile, though Autoworkers strike expanded against GM and Ford last week, there was a huge rally in electric vehicle stocks like Rivian, Lucid and Nikola.
On a separate note, cryptocurrency market remained charged-up. Bitcoin prices rose 2.8% last week. Many Ether futures-based ETFs are expected to launch this week. Since Coinbase's (COIN - Free Report) reputation as a reliable custodian for digital assets has been boosted by its stringent safety and compliance measures, such events helped Coinbase shares as well last week.
Against this backdrop, below we highlight a few winning ETFs of last week.
ETFs in Focus
Simplify Interest Rate Hedge ETF (PFIX - Free Report) – Up 12.5%
The Simplify Interest Rate Hedge ETF seeks to hedge interest rate movements arising from rising long-term interest rates, and to benefit from market stress when fixed income volatility increases, while providing the potential for income. The fund charges 50 bps in fees.
YieldMax COIN Option Income Strategy ETF (CONY - Free Report) – Up 5.4%
This ETF is active and does not track a benchmark. The YieldMax COIN Option Income Strategy ETF is an actively managed fund that seeks to generate monthly income by writing call options on COIN. The expense ratio of the fund is 0.99%.
Spear Alpha ETF (SPRX - Free Report) – Up 3.9%
This ETF is active and does not track a benchmark. The Spear Alpha ETF invests in companies that are poised to benefit from breakthrough trends in industrial technology. The fund charges 75 bps in fees.
Sprott Uranium Miners ETF (URNM - Free Report) – Up 3.9%
The underlying North Shore Global Uranium Mining Index seeks to track the performance of companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets. The fund charges 85 bps in fees.
Global X Education ETF – Up 3.7%
The underlying Indxx Global Education Thematic Index tracks the performance of companies listed in developed and emerging markets that provide products and services that facilitate education, including but not limited to companies involved in online learning and educational content/publishing, as well as early childhood education, higher education and professional education. The fund charges 50 bps in fees.
Renaissance IPO ETF (IPO - Free Report) – Up 3.7%
September was an eventful month for initial public offerings with many high-end IPOs hitting the market. The Renaissance IPO Index is a portfolio of newly U.S.-listed initial public offerings of companies whose unseasoned equities are under-represented in core U.S. equity indices. IPOs that meet liquidity & operational screens are included in the Index at the end of the fifth day of trading, or upon quarterly reviews, weighted by tradable float, capped at 10% & removed after two years. The fund charges 60 bps in fees (read: IPO ETFs Look Hot in September: Here's Why).