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Top-Performing ETFs of Last Week

Sanghamitra Saha
·4 min read

Wall Street put up a feeble show last week (though still in the green territory) with the S&P 500, the Dow Jones and the Nasdaq Composite adding about 0.64%, 1.8% and 0.08%, respectively.

Decent jobs and manufacturing data as well as vaccine hopes have probably kept investors’ confidence alive. But uncertainty over the execution of Trump’s stimulus executive order and a weaker-than-expected increase in retail sales curtailed the rise in indexes.

Still, we can see that market laggards are emerging as leaders. Against such a backdrop, below we highlight a few ETF winners of last week (read: ETF Laggards are Emerging Leaders: Here's Why).

iShares U.S. Oil Equipment & Services ETF IEZ – Up 5.2%

Oil Equipment & Services segment has been gaining momentum on economic recovery hopes. Most recently, the U.S. Energy Information Administration raised its 2020 forecasts for U.S. and global benchmark oil prices.

The EIA pushed up its 2020 West Texas Intermediate crude price forecast by 2.5% to $38.50 a barrel from the July forecast. For Brent crude, it upped this year's forecast by 2.3% to $41.42. Last week, the Energy Information Administration reported a 4.5 million-barrel drawdown in U.S. crude inventories for the week ended Aug 7. The decline occurred for three weeks in a row.

First Trust NASDAQ Global Auto ETF CARZ – Up 4.9%

The fund is a clear beneficiary of the Tesla rally. The electric carmaker’s shares soared after it announced a 5-for-1 stock split. Moreover, U.S. sales of new light vehicles in July rose 14% sequentially but were down 11% year on year (read: the electric carmaker raised optimism by announcing a 5-for-1 stock split).

Franklin FTSE Russia ETF (FLRU) – Up 4.9%

Russian stocks have been on an uptrend probably on an energy market recovery. Oil — seemingly the main commodity of Russia — poses huge risks to the nation. About half of Russia’s exports in terms of value come from oil and natural gas as along with the United States and Saudi Arabia, it is one of only three countries in the world producing more than 10 million barrels of oil per day. This makes it clear why Russia’s economy is highly dependent on the oil price movement. Dubbed as Sputnik V, Russia’s coronavirusvaccine talks may also be helping Russia investing.  

VanEck Vectors Gaming ETF BJK – Up 4.8%

The MVIS Global Gaming Index tracks the overall performance of companies involved in casinos and casino hotels, sports betting, lottery services, gaming services, gaming technology and gaming equipment. One of the components of the fund — MGM Resorts (MGM) — jumped after Barry Diller’s IAC/InterActiveCorp.  (IAC) bought a 12% equity stake in the casino company. The bet was mainly to cash in on the recent rise in online gambling.

First Trust Nasdaq Transportation ETF FTXR – Up 4.5%

The Dow Jones Transportation Average spurted to a five-month high in recent weeks as the COVID-19 curve flattened across the South and Southwest states. Package delivery services company United Parcel Service Inc. (UPS) has been hovering close to an all-time high. Traveling has also increased materially with TSA checkpoint travel numbers reporting more than 700,000 travelers on several days in the past month, which is way higher than the minimum of 87534 recorded in mid-April.

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First Trust NASDAQ Global Auto ETF (CARZ): ETF Research Reports
iShares U.S. Oil Equipment Services ETF (IEZ): ETF Research Reports
VanEck Vectors Gaming ETF (BJK): ETF Research Reports
First Trust NASDAQ Transportation ETF (FTXR): ETF Research Reports
Franklin FTSE Russia ETF (FLRU): ETF Research Reports
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