We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Zacks Analyst Blog Highlights ARK Innovation ETF, ARK Genomic Revolution ETF, iShares U.S. Home Construction ETF, ETFMG Alternative Harvest ETF and iShares U.S. Regional Banks ETF
Read MoreHide Full Article
For Immediate Release
Chicago, IL – November 7, 2023 – Zacks.com announces the list of stocks and ETFs featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: ARK Innovation ETF (ARKK - Free Report) , ARK Genomic Revolution ETF (ARKG - Free Report) , iShares U.S. Home Construction ETF (ITB - Free Report) , ETFMG Alternative Harvest ETF (MJ - Free Report) and iShares U.S. Regional Banks ETF (IAT - Free Report) .
Here are highlights from Monday’s Analyst Blog:
5 Sector ETFs at the Forefront of the Market Rally Last Week
Wall Street wrapped up the best week of 2023 to start November. The Dow Jones Industrial Average and the S&P 500 gained about 5% and 6%, respectively, last week, while the tech-heavy Nasdaq Composite Index outperformed, rising more than 6.6%. The rally was driven by increased investor confidence, buoyed by solid corporate earnings and signals that the Federal Reserve's aggressive interest rate hiking campaign might be nearing an end.
As the gains have been broad-based, we have highlighted five ETFs each from different sectors that gained in double digits last week.
Last week, the Fed voted to hold interest rates at their highest range in 22 years at the conclusion of its latest policy meeting and investors bet that the central bank may be done hiking. The latest soft monthly job report bolstered the idea that the Fed is done with rate hikes. Federal Reserve Chair Jerome Powell indicated that some softening in the labor market would likely be necessary to sustain the inflationary downturn (read: Growth ETFs to Shine as Fed Hints at End of Rate Hike Era).
The world’s largest economy added lower-than-expected 150,000 jobs in October while the unemployment rate picked up to its highest level since January 2022 at 3.9%. This has pushed Treasury yields down, driving up the equities. Better-than-expected earnings added to the strength. With more than 60% of the third-quarter results already out, earnings are poised to grow despite the significant energy sector drag, which follows three back-to-back quarters of declines.
Total earnings for the 311 S&P 500 members that have reported results so far are up 2.3% from the same period last year on 2% higher revenues, with 80.7% beating EPS estimates and 61.7% beating revenue estimates. Earnings growth represents a notable improvement when compared to the recent previous quarters. Still, the revenue growth pace marks a clear decelerating trend.
ETFs in Focus
We have profiled the above-mentioned ETFs in detail below:
ARK Innovation ETF – Up 18.6%
ARK Innovation ETF is an actively managed fund investing in companies that benefit from the development of new products or services, technological improvements and advancements in scientific research related to the areas of DNA Technologies and Genomic Revolution, Automation, Robotics, and Energy Storage, Artificial Intelligence, Next Generation Internet, and Fintech Innovation. In total, the fund holds 31 securities in its basket, with some concentration on the top three firms.
ARK Innovation ETF has gathered $6.1 billion in its asset base and charges 75 bps in fees per year from investors.
ARK Genomic Revolution ETF – Up 17.1%
ARK Genomic Revolution ETF is an actively managed fund focused on companies that are likely to benefit from extending and enhancing the quality of human and other life by incorporating technological and scientific developments, and advancements in genomics into their business.
With AUM of $1.4 billion, ARK Genomic Revolution ETF holds 39 stocks in its basket and has 0.75% in expense ratio.
iShares U.S. Home Construction ETF – Up 13.1%
iShares U.S. Home Construction ETF provides exposure to U.S. companies that manufacture residential homes by tracking the Dow Jones U.S. Select Home Construction Index (read: Homebuilder ETFs Tumble: What Lies Ahead?).
With an AUM of $1.7 billion, it holds a basket of 46 stocks, with double-digit concentration on the top two firms. iShares U.S. Home Construction ETF charges 40 bps in annual fees and has a Zacks ETF Rank #3 (Hold).
ETFMG Alternative Harvest ETF – Up 13%
ETFMG Alternative Harvest ETF is the first ETF focusing on the global cannabis/marijuana industry. It 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. ETFMG Alternative Harvest ETF holds 28 securities in its basket with a moderate concentration across top firms.
iShares U.S. Regional Banks ETF offers exposure to 35 small and mid-cap regional bank stocks by tracking the Dow Jones U.S. Select Regional Banks Index. It is largely concentrated on the top three firms with a double-digit allocation each.
iShares U.S. Regional Banks ETF has amassed $564.1 million in its asset base and charges 40 bps in annual fees. It currently has a Zacks Rank #4 (sell).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
The Zacks Analyst Blog Highlights ARK Innovation ETF, ARK Genomic Revolution ETF, iShares U.S. Home Construction ETF, ETFMG Alternative Harvest ETF and iShares U.S. Regional Banks ETF
For Immediate Release
Chicago, IL – November 7, 2023 – Zacks.com announces the list of stocks and ETFs featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: ARK Innovation ETF (ARKK - Free Report) , ARK Genomic Revolution ETF (ARKG - Free Report) , iShares U.S. Home Construction ETF (ITB - Free Report) , ETFMG Alternative Harvest ETF (MJ - Free Report) and iShares U.S. Regional Banks ETF (IAT - Free Report) .
Here are highlights from Monday’s Analyst Blog:
5 Sector ETFs at the Forefront of the Market Rally Last Week
Wall Street wrapped up the best week of 2023 to start November. The Dow Jones Industrial Average and the S&P 500 gained about 5% and 6%, respectively, last week, while the tech-heavy Nasdaq Composite Index outperformed, rising more than 6.6%. The rally was driven by increased investor confidence, buoyed by solid corporate earnings and signals that the Federal Reserve's aggressive interest rate hiking campaign might be nearing an end.
As the gains have been broad-based, we have highlighted five ETFs each from different sectors that gained in double digits last week.
Last week, the Fed voted to hold interest rates at their highest range in 22 years at the conclusion of its latest policy meeting and investors bet that the central bank may be done hiking. The latest soft monthly job report bolstered the idea that the Fed is done with rate hikes. Federal Reserve Chair Jerome Powell indicated that some softening in the labor market would likely be necessary to sustain the inflationary downturn (read: Growth ETFs to Shine as Fed Hints at End of Rate Hike Era).
The world’s largest economy added lower-than-expected 150,000 jobs in October while the unemployment rate picked up to its highest level since January 2022 at 3.9%. This has pushed Treasury yields down, driving up the equities. Better-than-expected earnings added to the strength. With more than 60% of the third-quarter results already out, earnings are poised to grow despite the significant energy sector drag, which follows three back-to-back quarters of declines.
Total earnings for the 311 S&P 500 members that have reported results so far are up 2.3% from the same period last year on 2% higher revenues, with 80.7% beating EPS estimates and 61.7% beating revenue estimates. Earnings growth represents a notable improvement when compared to the recent previous quarters. Still, the revenue growth pace marks a clear decelerating trend.
ETFs in Focus
We have profiled the above-mentioned ETFs in detail below:
ARK Innovation ETF – Up 18.6%
ARK Innovation ETF is an actively managed fund investing in companies that benefit from the development of new products or services, technological improvements and advancements in scientific research related to the areas of DNA Technologies and Genomic Revolution, Automation, Robotics, and Energy Storage, Artificial Intelligence, Next Generation Internet, and Fintech Innovation. In total, the fund holds 31 securities in its basket, with some concentration on the top three firms.
ARK Innovation ETF has gathered $6.1 billion in its asset base and charges 75 bps in fees per year from investors.
ARK Genomic Revolution ETF – Up 17.1%
ARK Genomic Revolution ETF is an actively managed fund focused on companies that are likely to benefit from extending and enhancing the quality of human and other life by incorporating technological and scientific developments, and advancements in genomics into their business.
With AUM of $1.4 billion, ARK Genomic Revolution ETF holds 39 stocks in its basket and has 0.75% in expense ratio.
iShares U.S. Home Construction ETF – Up 13.1%
iShares U.S. Home Construction ETF provides exposure to U.S. companies that manufacture residential homes by tracking the Dow Jones U.S. Select Home Construction Index (read: Homebuilder ETFs Tumble: What Lies Ahead?).
With an AUM of $1.7 billion, it holds a basket of 46 stocks, with double-digit concentration on the top two firms. iShares U.S. Home Construction ETF charges 40 bps in annual fees and has a Zacks ETF Rank #3 (Hold).
ETFMG Alternative Harvest ETF – Up 13%
ETFMG Alternative Harvest ETF is the first ETF focusing on the global cannabis/marijuana industry. It 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. ETFMG Alternative Harvest ETF holds 28 securities in its basket with a moderate concentration across top firms.
ETFMG Alternative Harvest ETF has AUM of $193.1 million and charges 75 bps in annual fees (read: Cannabis ETFs Surge on Legalization Hopes: More Run Ahead?).
iShares U.S. Regional Banks ETF – Up 12.4%
iShares U.S. Regional Banks ETF offers exposure to 35 small and mid-cap regional bank stocks by tracking the Dow Jones U.S. Select Regional Banks Index. It is largely concentrated on the top three firms with a double-digit allocation each.
iShares U.S. Regional Banks ETF has amassed $564.1 million in its asset base and charges 40 bps in annual fees. It currently has a Zacks Rank #4 (sell).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.