|Bid||28.73 x 800|
|Ask||28.75 x 1200|
|Day's Range||28.41 - 28.80|
|52 Week Range||17.93 - 32.46|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||51.69%|
|Beta (3Y Monthly)||1.25|
|Expense Ratio (net)||0.70%|
Despite occasional trade tensions, U.S. equity gauges have added solid gains this year. But these sector ETFs handily beat the soaring broader market.
Since the start of the fourth quarter, Wall Street is witnessing new highs on the back of a better-than-expected earnings season, easing policies and trade deal optimism.
Tesla investors cheered the electric automaker’s third-quarter earnings results last week after the company posted a surprise profit, which kept the bears at bay for the time being. While electric cars are their bread and butter product, the company’s solar sales are also experiencing exponential growth, which could bode well for the Invesco Solar ETF (TAN) . Tesla CEO Elon Musk outlined the solar sales goal in the forthcoming months during a conference call.
We have presented a bunch of top-performing ETFs of 2019 so far that are likely to continue outperforming as these have potentially superior weighting methodologies and a solid Zacks ETF Rank.
Signs of some progress in the U.S.-China trade relation, Brexit doldrums, oil price rally and mixed earnings pulled the stings of the market movement and made these ETFs winners and losers.
As Benzinga reported Tuesday, GLJ Research's Gordon Johnson recently waxed bearish on the solar sector, Chinese stocks in particular. Weakness in Chinese solar names is relevant to TAN, which tracks the MAC Global Solar Energy Index, because the $433 million ETF allocates nearly a quarter of its weight to Chinese stocks. Much of the forecast weakness in Chinese solar stocks is focused on small-cap names, but that's still pertinent to TAN because the ETF's 22 holdings have an average market capitalization of $2.39 billion and nearly 23% of those names are classified as small-cap growth stocks.
Investors are bidding up renewable energy funds, and for good reason. Even countries without ample sun, wind, or water will depend increasingly on renewable fuels in the next 30 years.
Up more than 55% year-to-date, the Invesco Solar ETF (TAN) , a renewable energy ETF, is one of 2019's best-performing non-leveraged ETFs and it appears investors are taking note of the solar fund's shine. TAN follows the MAC Global Solar Energy Index. The index is computed using the net return, which withholds applicable taxes for non-resident investors,” according to Invesco.
The stock market bulls have been marching ahead this year on trade optimism and cheap money flows. We have highlighted the best and worst zones so far this year.
The year 2019 so far has been kind to the U.S. stock market, despite a myriad of woes such as lingering trade woes, recession fears, geopolitical tension and Brexit issues.
Solar stocks and sector exchange traded funds have brightened up this week after an attack on Saudi Arabia's oil production raised questions over the world's reliance on fossil fuels, along with signs of ongoing growth in the solar industry. TAN also strengthened 4.5% over the past week on the heels of a spike in crude oil prices. Attacks on Saudi Arabia's oil facilities over the weekend disrupted half of the Kingdom's overall crude production or 5% of the world's global supply.
Little change occurred among top stock funds during the past month as the major market indexes rallied back near all-time highs.