The S&P 500 hit a new record high at the close for the first time since the COVID-19 outbreak. The sharp rebound from the trough seen in March to a new peak represents 126 trading days and marks the fastest-ever recovery from a bear market in the history of the index. The benchmark is now up 4.9% this year.

The combination of unprecedented fiscal and monetary stimulus in response to the pandemic, hopes of a swift economic rebound and high chances of a successful coronavirus vaccine drove the stocks higher. Additionally, the U.S. economy is steadily recovering and the loss suffered due to the pandemic is less than feared. "From a 34% bear market to new highs, 2020 is record-breaking and heartbreaking all at the same time," per Ryan Detrick, chief investment strategist at LPL Financial.

Further, a rise in mergers and acquisitions and a weak dollar led to a spike in the stock market. The recent dollar weakness is acting as a huge tailwind for the mega-cap companies, which derive most of their revenues from international markets. This is because a weak dollar has made dollar-denominated assets cheap for foreign investors, making U.S. multinationals more competitive and leading to increased profits. The ascent in stocks came despite the lingering uncertainty over the economic and political outlook.

While there are winners in many corners of the space, several ETFs easily crushed the market by wide margins in the year-to-date timeframe and carry a solid Zacks ETF Rank #1 (Strong Buy) or 2 (Buy). Below, we have presented a bunch of top-performing ETFs that are likely to continue outperforming, should the trends prevail.

Invesco Solar ETF (TAN - Free Report) – Up 70%

This ETF offers global exposure to the solar industry by tracking the MAC Global Solar Energy Index. It holds 27 stocks in the basket with American firms dominating half of the portfolio, followed by China (22.2%) and Spain (7.4%). The product has amassed $1.1 billion in its asset base and trades in a solid volume of around 538,000 shares a day. It charges investors 71 bps in fees per year and has a Zacks ETF Rank #2 with a High risk outlook.

WisdomTree Cloud Computing Fund (WCLD - Free Report) – Up 60.2%

This fund offers exposure to emerging, fast-growing U.S.-listed companies (including ADRs) primarily focused on cloud software and services, and follows the BVP Nasdaq Emerging Cloud Index. It holds 52 stocks in its basket and charges investors 45 bps in fees per year. The product has amassed $616.1 million in its asset base and trades in average daily volume of 788,000 shares. It has a Zacks ETF Rank #2.

SPDR S&P Internet ETF (XWEB - Free Report) - Up 54.2%

This product provides exposure to the Internet segment of the broad technology sector. It follows the S&P Internet Select Industry Index, holding 43 stocks in its basket. The ETF charges 35 bps in annual fees and trades in volume of 9,000 shares. With AUM of $34.8 million, the fund carries a Zacks ETF Rank #2.

Invesco NASDAQ Internet ETF (PNQI - Free Report) – Up 41.1%

This fund offers exposure to the largest and most liquid companies that are engaged in Internet-related businesses by tracking the Nasdaq Internet Index. Holding 90 stocks in its basket, it has AUM of $802.2 million and trades in a lower volume of about 31,000 shares a day. It charges 62 bps in fees per year and carries a Zacks ETF Rank #2 with a High risk outlook.

First Trust Dow Jones Internet Index Fund (FDN - Free Report) – Up 34.2%

This fund follows the Dow Jones Internet Composite Index, giving investors exposure to the broad Internet industry. It holds about 42 stocks in its basket. FDN is the most-popular and liquid ETF in the broad technology space with AUM of $9.8 billion and average daily volume of around 531,000 shares. It charges 52 bps in fees per year and has a Zacks ETF Rank #2.

Invesco QQQ (QQQ - Free Report) – Up 31.2%

This ETF provides exposure to the 103 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. QQQ is one of the largest and most-popular ETFs in the large-cap space with AUM of $131.4 billion and average daily volume of around 37.7 million shares. It charges investors 20 bps in annual fees and has a Zacks ETF Rank #1 with a Medium risk outlook.

iShares Expanded Tech-Software Sector ETF (IGV - Free Report) – Up 29%

This ETF provides exposure to software companies in the technology and communication services sectors by tracking the S&P North American Expanded Technology Software Index. Holding a basket of 101 securities, the fund charges 46 bps in annual fees and has AUM of $5.1 billion. Volume is good as it exchanges nearly 1 million shares a day. IGV has a Zacks ETF Rank #1 with a High risk outlook.

iShares U.S. Technology ETF (IYW - Free Report) – Up 28.5%

This ETF offers exposure to 161 U.S. electronics, computer software and hardware, and informational technology companies. It tracks the Dow Jones U.S. Technology Capped Index. The fund has AUM of $6.1 billion and charges 42 bps in fees and expenses. Volume is good as it exchanges nearly 130,000 shares a day. The fund has a Zacks ETF Rank #1 with a Medium risk outlook.

Vanguard Mega Cap Growth ETF (MGK - Free Report) – Up 27.3%

With AUM of $9.2 billion, this ETF offers diversified exposure to the largest growth stocks in the U.S. market by tracking the CRSP US Mega Cap Growth Index. It holds 107 securities in its basket with information technology taking the largest share at 46.2% while consumer services round off the next spot with 21.3% share. It charges 7 bps in annual fees and trades in good volume of around 365,000 shares a day, on average. The fund has a Zacks ETF Rank #1 with a Medium risk outlook.