5 Red Hot Stocks In The Top ETF Of 1H

WisdomTree Cloud Computing Fund (WCLD - Free Reporttopped the list of the best-performing ETFs in the first half with impressive returns of more than 47%.

The rally was primarily driven by the coronavirus pandemic, which has resulted in a dramatic shift in consumer behavior toward the digital world. This is because stay-at-home orders have boosted demand for work and entertainment from home, spurring demand for cloud computing.

Cloud computing has encouraged video conferencing, gaming, e-commerce, remote project collaboration, online classes, and several other programs. The solid trend continues even with the economy reopening.  

Let’s take a closer look at the fundamentals of WCLD.

WCLD in Focus

This fund offers exposure to emerging, fast-growing U.S.-listed companies (including ADRs) primarily focused on cloud software and services. It follows the BVP Nasdaq Emerging Cloud Index, holding 52 stocks in its basket. The fund charges investors 45 bps in fees per year. It has amassed $331.9 million in its asset base and trades in average daily volume of 151,000 shares. The product has a Zacks ETF Rank #2.

Though most of the stocks in the fund’s portfolio delivered strong returns, some stocks more than doubled in the first half of 2020. Below we have highlighted those five best-performing stocks in the ETF with their respective positions in the basket:

Best-Performing Stocks of WCLD

Zoom Video Communications Inc. (ZM - Free Report): The company provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East and Africa. It has skyrocketed about 265% in the first half. The stock has witnessed positive earnings estimate revision of 75 cents over the past 30 days for the fiscal year ending January 2021 and has an estimated earnings growth rate of 237.1%. It has a Zacks Rank #1 (Strong Buy) and Growth Score of A. The stock holds the second spot in the fund’s basket with 3.6% of the total assets.

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