Very humbled to see some new faces. From the 20 people who received the first edition, the amount of Listers has blown through to 64. Open rates of 40% and someone viewed the last edition 70 times…you know who you are. Also, thanks for those who provided some feedback, much appreciated. Anyway, here’s this weeks recap.
Weekly Changes:
Out of 114 Tech ETFs analysed the average ETF had a down week last week, losing on average -1.95% compared to the previous week’s 1.53% gain.
Although the top 5 managed to all break 4% on the week.
The S&P 500 proved stronger which saw another weekly fractional rise of 0.005% compared to 0.386% during the previous week.
Given the down week, it’s not surprising that the top performing ETF was a 3x levered Bear ETF: Direxion Daily Technology Bear 3X Shares (TECS). TECS is however, the second worst performing ETF in the group YTD.
The distribution of US listed stocks from the Top 5 unlevered ETFs saw a pretty even split with both SPDR Kensho Final Frontiers ETF (ROKT) and Procure Space ETF (UFO) both holding Virgin Galactic Holdings Inc (SPCE).
IGN was the only ETF to not have a top performing stock.
On the other end, we saw China Tech ETFs take a bit of a fall after their strong previous week.
Likewise IGN avoided the losing tail, which included Microsoft, but of course many of the China listed companies that we don’t track would have been in this list.
Year-To-Date:
Of the 106 ETFs which have been around YTD, the average return sits at 12% (down from 13% last week) compared the S&P 500 which just broke into positive YTD- territory at 0.0017%.
Over the last week, CWEB dropped from 1st place to 4th, and ARKK leapfrogged its fellow ARK ETF ARKW to clinch the top spot. But overall, the top 5 names stayed the same compared to last week.
The best performing Inverse ETF is still REW down -52%.
On the other end of the table the bottom 5 ETFs included UFO, REW and TECS which were all in the top 5 of the week, showing some rotation in the space.
Splitting the top 5 ETFs into their holdings, WCLD currently has the highest mean (on 52 US holdings compared to both ARKs).
but may be in part to being the only ETF that is holding onto Fastly and splitting Zoom with OGIG.
On the lagging side of things, despite QDs 33% gain in the prior week, it’s sitting at the bottom of this cohort.
Thank again for reading and hopefully you have a bit more information to arm yourself with for this upcoming week. Like I said, I’m very excited for a couple of tweaks next week. Every 4 weeks will also include a more detailed monthly recap.
Feel free to comment on what you’ve seen above and what else you’d like to see as well as share this email with anyone who you think might find it interesting.
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Best,
Stuart