5 Best-Performing ETFs Of Last Week

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Wall Street snapped a three-week winning streak amid uncertainty over the global growth and inflation fears. This is especially true, as the cost of living in the United States has surged the most in 13 years, leading to a spike in inflation. Consumer prices increased 5.4% year over year in June, representing the biggest monthly gain since August 2008.

Meanwhile, the Delta variant of COVID-19 has been rising in all 50 U.S. states. Per the U.S. Centers for Disease Control and Prevention data, cases of COVID-19 are up 70% over the previous week and deaths are up 26%, with most of the surge occurring in counties with below average vaccination rates. The seven-day-average number of daily cases is now more than 26,000, more than twice its June low of around 11,000 cases.

Weak consumer survey data also added to the chaos last week. Consumer sentiment as measured by the University of Michigan dropped the lowest since February in early June. Notably, the Dow Jones and the S&P 500 shed 0.5% and 1%, respectively. The tech-heavy Nasdaq Composite Index fell 1.9%.

Against such a backdrop, a few ETFs have gained last week. Here are five of them:

Utilities Select Sector SPDR (XLU - Free Report) – Up 2.6%

Being a low-beta sector, utility is relatively protected from large swings (ups and downs) in the stock market and is thus considered a defensive investment or a safe haven amid economic or political turmoil. With AUM of $11.7 billion, this fund provides exposure to a small basket of 28 securities by tracking the Utilities Select Sector Index. It is primarily concentrated on the top firm with 16.3% share while the other firms hold not more than 8.7% of the assets. Electric utilities takes the top spot in terms of sectors at 63.5%, closely followed by multi utilities (30%). The product charges 12 bps in annual fees and sees a massive volume of around 10.8 million shares on average. It has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any ...

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