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Wall Street enjoyed a stellar ride last week buoyed by a strong start to Q1 earnings and upbeat economic data. The Dow Jones and the S&P 500 advanced for the fourth consecutive week, gaining 1.2% and 1.4%, respectively. The Nasdaq Composite Index logged in the third straight weekly gain and added 1.1% last week.
Strong economic data from both the United States and China has spurred optimism about a speedy global recovery, driving the stocks higher. Additionally, bond yields pulled back from its peak reached last month, bolstering investors’ confidence. A record-breaking IPO of Coinbase (COIN - Free Report) added to the excitement later in the week as investors chased the crypto exchange’s debut (read: Coinbase Debuts, Bitcoin & Blockchain ETFs Soar).
Given this, overall ETFs gathered about $24.5 billion capital last week, bringing in year-to-date inflows of a record $294 billion. U.S. equity ETFs led the way higher last week with $14.1 billion inflows, closely followed by $6.6 billion in U.S. fixed income and $3.7 billion in international equity ETFs, per etf.com.
As such, a few ETFs garnered solid investor interest last week and will continue to be their darlings should the current market trends prevail. Below we have highlighted five of them:
HYG topped the asset flow creation last week, gathering $2.6 billion in capital. A pullback in Treasury yields, which had sparked overvaluation concerns, provided a big boost to the mega-cap tech names. This ETF provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 48.6% of the assets while communication services and consumer discretionary make up at least 18% share each. QQQ is one of the largest and most-popular ETFs in the large-cap space with an AUM of $166.9 billion and an average daily volume of 52.1 million shares. It charges investors 20 bps in annual fees. The fund has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: Tech ETFs Are Back in Momentum, Soar to All-Time High).
This ETF accumulated around $2.2 billion in its asset base last week. It offers exposure to well-capitalized companies with strong market positions based on robust balance sheets, a high degree of liquidity, ability to generate earnings growth, and record financial strength and profit growth. Holding 50 stocks in its basket, the fund has key holdings in industrials, healthcare, consumer staples, consumer discretionary and financials. It charges 58 bps in annual fees and has AUM of $9.8 billion. The product trades in an average daily volume of 451,000 shares and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
This fund has accumulated $1.4 billion in capital, taking its total AUM to $235.2 billion. It provides exposure to the broad stock market by tracking the CRSP US Total Market Index. The ETF holds a large basket of well-diversified 3755 stocks with key holdings in technology, consumer discretionary, industrials, healthcare, and financials. It charges 3 bps in fees per year from investors and trades in an average daily volume 4.3 million shares. VTI has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook (read: Best ETFs for Long-Term Investors).
VOO gathered $1.3 billion in capital last week, taking its total AUM to $216 billion. It tracks the S&P 500 Index and holds 509 stocks in its basket with information technology, healthcare, consumer discretionary, financials and communication services being the top five, with double-digit allocation each. The ETF charges investors 3 bps in annual fees and trades in an average daily volume of 3.9 million shares. It has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
BlackRock U.S. Carbon Transition Readiness ETF (LCTU - Free Report)
This fund, which debuted on Apr 8, saw inflows of $1.3 billion, taking its total AUM to $1.3 billion. The popularity came on the continued move toward lower carbon solutions as more companies and countries announce that they will aim for zero carbon targets LCTU seeks to offer a broad exposure to large- and mid-capitalization U.S. companies that are better positioned to benefit from the transition to a low-carbon economy. The ETF charges 30 bps in annual fees (read: New U.S. Carbon ETF From BlackRock Makes Biggest-Ever Launch).
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5 Equity ETFs That Were Red-Hot Last Week
Wall Street enjoyed a stellar ride last week buoyed by a strong start to Q1 earnings and upbeat economic data. The Dow Jones and the S&P 500 advanced for the fourth consecutive week, gaining 1.2% and 1.4%, respectively. The Nasdaq Composite Index logged in the third straight weekly gain and added 1.1% last week.
Strong economic data from both the United States and China has spurred optimism about a speedy global recovery, driving the stocks higher. Additionally, bond yields pulled back from its peak reached last month, bolstering investors’ confidence. A record-breaking IPO of Coinbase (COIN - Free Report) added to the excitement later in the week as investors chased the crypto exchange’s debut (read: Coinbase Debuts, Bitcoin & Blockchain ETFs Soar).
Given this, overall ETFs gathered about $24.5 billion capital last week, bringing in year-to-date inflows of a record $294 billion. U.S. equity ETFs led the way higher last week with $14.1 billion inflows, closely followed by $6.6 billion in U.S. fixed income and $3.7 billion in international equity ETFs, per etf.com.
As such, a few ETFs garnered solid investor interest last week and will continue to be their darlings should the current market trends prevail. Below we have highlighted five of them:
Invesco QQQ (QQQ - Free Report)
HYG topped the asset flow creation last week, gathering $2.6 billion in capital. A pullback in Treasury yields, which had sparked overvaluation concerns, provided a big boost to the mega-cap tech names. This ETF provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 48.6% of the assets while communication services and consumer discretionary make up at least 18% share each. QQQ is one of the largest and most-popular ETFs in the large-cap space with an AUM of $166.9 billion and an average daily volume of 52.1 million shares. It charges investors 20 bps in annual fees. The fund has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: Tech ETFs Are Back in Momentum, Soar to All-Time High).
First Trust Capital Strength ETF (FTCS - Free Report)
This ETF accumulated around $2.2 billion in its asset base last week. It offers exposure to well-capitalized companies with strong market positions based on robust balance sheets, a high degree of liquidity, ability to generate earnings growth, and record financial strength and profit growth. Holding 50 stocks in its basket, the fund has key holdings in industrials, healthcare, consumer staples, consumer discretionary and financials. It charges 58 bps in annual fees and has AUM of $9.8 billion. The product trades in an average daily volume of 451,000 shares and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Vanguard Total Stock Market ETF (VTI - Free Report)
This fund has accumulated $1.4 billion in capital, taking its total AUM to $235.2 billion. It provides exposure to the broad stock market by tracking the CRSP US Total Market Index. The ETF holds a large basket of well-diversified 3755 stocks with key holdings in technology, consumer discretionary, industrials, healthcare, and financials. It charges 3 bps in fees per year from investors and trades in an average daily volume 4.3 million shares. VTI has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook (read: Best ETFs for Long-Term Investors).
Vanguard S&P 500 ETF (VOO - Free Report)
VOO gathered $1.3 billion in capital last week, taking its total AUM to $216 billion. It tracks the S&P 500 Index and holds 509 stocks in its basket with information technology, healthcare, consumer discretionary, financials and communication services being the top five, with double-digit allocation each. The ETF charges investors 3 bps in annual fees and trades in an average daily volume of 3.9 million shares. It has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
BlackRock U.S. Carbon Transition Readiness ETF (LCTU - Free Report)
This fund, which debuted on Apr 8, saw inflows of $1.3 billion, taking its total AUM to $1.3 billion. The popularity came on the continued move toward lower carbon solutions as more companies and countries announce that they will aim for zero carbon targets LCTU seeks to offer a broad exposure to large- and mid-capitalization U.S. companies that are better positioned to benefit from the transition to a low-carbon economy. The ETF charges 30 bps in annual fees (read: New U.S. Carbon ETF From BlackRock Makes Biggest-Ever Launch).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>