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Following easing of trade war fears and another rate cut, the Wall Street is hovering around new record highs.
A new round of face-to-face talks between China and U.S. officials for the first time in nearly two months has led to positivity in the market. The Fed slashed interest rates for the second time since the financial crisis by 25 bps to 1.75-2% in its policy meeting to sustain a decade-long economic expansion (read: Sector ETFs, Stocks Set to Explode After Another Rate Cut).
Lower interest rates make borrowings cheaper, providing a boost to both investment in new projects and repayment of higher-rate debt. Consequently, it leads to strong economic growth and is thus a boon for the stock market. Additionally, major central banks across the globe are also taking steps to prop up slowing economic growth that have eased global recession concerns and in turn lifted investors’ confidence.
Further, the latest bout of upbeat data pointing to increase in inflation, higher consumer and business confidence as well as retail sales, underscores the strength of the economy. Strong recovery in the U.S. housing market and the wave of mergers and acquisitions added to the strength (read: Here's Why Homebuilding ETFs Are Soaring).
The large-cap space has been rallying with most ETFs hitting new highs in recent session. Below we presented them:
This is the ultra-popular and oldest U.S. equity ETF with AUM of $275.4 billion. It is the most actively traded fund with average daily volume of around 70.06 million shares and 0.09% in expense ratio. SPY tracks the S&P 500 Index and has gained 21.6% in the year-to-date timeframe. It has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook (read: ETF Winners Amid Half-Hearted Response to Fed's Rate Cut).
With AUM of $189.9 billion, IVV also tracks the S&P 500 Index and trades in average daily volume of 3.9 billion. It is one of the low-cost choices in the space, charging just 4 bps in annual fees. IVV is up 21.6% so far this year and has a Zacks ETF Rank #2 with a Medium risk outlook.
This ETF follows the S&P 500 Index, charging investors 3 bps in annual fees. It has amassed $123 billion in its asset base and trades in average daily volume of 2.7 million shares. VOO has gained 21.6% this year and has a Zacks ETF Rank #2 with a Medium risk outlook.
This fund tracks the Dow Jones U.S. Large-Cap Total Stock Market Index, charging investors 3 bps in fees per year. The fund has amassed $18.4 billion in its asset base and volume is solid at over 1.1 million shares. It has a Zacks ETF Rank #2 with a Medium risk outlook (read: 5 Low-Cost ETFs to Buy as Every Penny Counts).
This ETF follows the Russell Top 200 Index, charging investors 15 bps in annual fees. It has AUM of $255.2 million and trades in average daily volume of 14,000 shares. The ETF has gained 21.1% in the year-to-date timeframe and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
With AUM of $2 billion, this ETF offers exposure to the largest U.S. stocks, representing approximately the top 70% of market capitalization by tracking the CRSP US Mega Cap Index. It charges 7 bps in annual fees but trades in lower average daily volume of 76,000 shares. The product has returned about 21.1% so far this year. It has a Zacks ETF Rank #3 with a Medium risk outlook.
With AUM of $4.6 billion, this ETF tracks the CRSP US Mega Cap Growth Index. It charges 7 bps in annual fees and trades in good volume of around 162,000 shares a day on average. The fund has gained 26.5% in the year-to-date timeframe and sports a Zacks ETF Rank #1 with a Medium risk outlook (read: Why You Should Buy Large-Cap Growth ETFs Now).
This product follows the John Hancock Dimensional Large Cap Index, charging investors 34 bps in annual fees. It trades in volume of 55,000 shares a day on average and has amassed $920.5 million in its asset base. The ETF is up 21.9% year-to-date and has a Zacks ETF Rank #2 with a Medium risk outlook.
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Large Cap ETFs Hit All-Time High
Following easing of trade war fears and another rate cut, the Wall Street is hovering around new record highs.
A new round of face-to-face talks between China and U.S. officials for the first time in nearly two months has led to positivity in the market. The Fed slashed interest rates for the second time since the financial crisis by 25 bps to 1.75-2% in its policy meeting to sustain a decade-long economic expansion (read: Sector ETFs, Stocks Set to Explode After Another Rate Cut).
Lower interest rates make borrowings cheaper, providing a boost to both investment in new projects and repayment of higher-rate debt. Consequently, it leads to strong economic growth and is thus a boon for the stock market. Additionally, major central banks across the globe are also taking steps to prop up slowing economic growth that have eased global recession concerns and in turn lifted investors’ confidence.
Further, the latest bout of upbeat data pointing to increase in inflation, higher consumer and business confidence as well as retail sales, underscores the strength of the economy. Strong recovery in the U.S. housing market and the wave of mergers and acquisitions added to the strength (read: Here's Why Homebuilding ETFs Are Soaring).
The large-cap space has been rallying with most ETFs hitting new highs in recent session. Below we presented them:
SPDR S&P 500 ETF Trust (SPY - Free Report)
This is the ultra-popular and oldest U.S. equity ETF with AUM of $275.4 billion. It is the most actively traded fund with average daily volume of around 70.06 million shares and 0.09% in expense ratio. SPY tracks the S&P 500 Index and has gained 21.6% in the year-to-date timeframe. It has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook (read: ETF Winners Amid Half-Hearted Response to Fed's Rate Cut).
iShares Core S&P 500 ETF (IVV - Free Report)
With AUM of $189.9 billion, IVV also tracks the S&P 500 Index and trades in average daily volume of 3.9 billion. It is one of the low-cost choices in the space, charging just 4 bps in annual fees. IVV is up 21.6% so far this year and has a Zacks ETF Rank #2 with a Medium risk outlook.
Vanguard S&P 500 ETF (VOO - Free Report)
This ETF follows the S&P 500 Index, charging investors 3 bps in annual fees. It has amassed $123 billion in its asset base and trades in average daily volume of 2.7 million shares. VOO has gained 21.6% this year and has a Zacks ETF Rank #2 with a Medium risk outlook.
Schwab U.S. Large-Cap ETF (SCHX - Free Report)
This fund tracks the Dow Jones U.S. Large-Cap Total Stock Market Index, charging investors 3 bps in fees per year. The fund has amassed $18.4 billion in its asset base and volume is solid at over 1.1 million shares. It has a Zacks ETF Rank #2 with a Medium risk outlook (read: 5 Low-Cost ETFs to Buy as Every Penny Counts).
iShares Russell Top 200 ETF (IWL - Free Report)
This ETF follows the Russell Top 200 Index, charging investors 15 bps in annual fees. It has AUM of $255.2 million and trades in average daily volume of 14,000 shares. The ETF has gained 21.1% in the year-to-date timeframe and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Vanguard Mega Cap ETF (MGC - Free Report)
With AUM of $2 billion, this ETF offers exposure to the largest U.S. stocks, representing approximately the top 70% of market capitalization by tracking the CRSP US Mega Cap Index. It charges 7 bps in annual fees but trades in lower average daily volume of 76,000 shares. The product has returned about 21.1% so far this year. It has a Zacks ETF Rank #3 with a Medium risk outlook.
Vanguard Mega Cap Growth ETF (MGK - Free Report)
With AUM of $4.6 billion, this ETF tracks the CRSP US Mega Cap Growth Index. It charges 7 bps in annual fees and trades in good volume of around 162,000 shares a day on average. The fund has gained 26.5% in the year-to-date timeframe and sports a Zacks ETF Rank #1 with a Medium risk outlook (read: Why You Should Buy Large-Cap Growth ETFs Now).
Multifactor Large Cap ETF (JHML - Free Report)
This product follows the John Hancock Dimensional Large Cap Index, charging investors 34 bps in annual fees. It trades in volume of 55,000 shares a day on average and has amassed $920.5 million in its asset base. The ETF is up 21.9% year-to-date and has a Zacks ETF Rank #2 with a Medium risk outlook.
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 >>