Best & Worst Performing ETFs To Start 2019

Despite last year’s headwinds, especially U.S.-China trade woes and slower global growth that have spilled over into this year, and the longest government shutdown in history, Wall Street has started the New Year on a solid note.

Robust December jobs data and Powell’s comment that the Fed is not in a hurry to raise rates this year instilled optimism in the market. Signs of progress in U.S.-China trade talks have also boosted demand for riskier assets. Additionally, Fed minutes, which indicated caution on future interest rate hikes, have helped to boost sentiment.

In fact, U.S. stocks registered the third straight week of gains, with the S&P 500 rallying more than 10% since hitting the brink of a bear market on Christmas Eve. Notably, the Dow Jones and S&P 500 have posted their first three-week winning streak since August.

Given this, we have highlighted some ETFs that are off to a good start in 2019 and some that have had a rough start:

Best ETFs

ETFMG Alternative Harvest ETF (MJ - Free Report) – Up 23.4%

After being beaten down in the fourth quarter of last year, the marijuana ETF regained momentum to start the year. The pot industry is emerging and poised for rapid growth given its widespread legality and the resultant waves of deals. MJ is the first and only pure ETF targeting the cannabis/marijuana industry. The fund tracks the Prime Alternative Harvest Index, designed to measure the performance of companies within the cannabis ecosystem, benefiting from global medicinal and recreational cannabis legalization initiatives. The fund holds 37 securities in its basket and charges 75 bps in annual fees. The ETF has AUM of $716.9 million and trades in a good volume of around 812,000 shares.

SPDR S&P Oil & Gas Equipment & Services ETF (XESFree Report) – Up 17.9%

Oil price is on tear on falling production and OPEC-led fresh crude output cuts. Hopes over the trade deal between the United States and China also added to the strength. With AUM of $208.1 million, this fund tracks the S&P Oil & Gas Equipment & Services Select Industry Index, which measures the performance of the companies engaged in the oil and gas equipment and services industry. It holds 40 securities in its basket and charges 35 bps in annual fees. The fund trades in a solid average daily volume of 1.5 million shares and has a Zacks ETF Rank #4 (Sell) with a High-risk outlook.

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