With just a short time left in Wednesday’s trading session, it appears likely that the S&P 500 will finish April with a modest loss.
Finishing April in the red is a fate that will befall over 600 traditional exchange traded funds and data from ETFScreen.com turns up plenty of momentum funds that have fallen on hard times since early March.
April’s worst non-leveraged ETFs run the gamut of social media, biotechnology, Internet and other momentum fare that investors have discarded. The list starts with the…
Global X Social Media Index ETF (SOCL)
April decline: 15.1%
Comment: SOCL’s April woes cannot be pinned on just one or two stocks, although Tencent Holdings and Facebook (FB) are off 15% and 5%, respectively. Those stocks combine for 26.7% of SOCL’s weight. LinkedIn (LNKD), Sina (SINA) and Twitter (SOCL), among others, also weighed on SOCL in April as all three finished the month with deep double-digit losses. [Social Media Slump Spells Trouble for Nasdaq]