Electronic Trade Funds that are in focus this week include those that focus on China's market, most notably iShares MSCI China ETF (MCHI ) which offers a board range of the Chinese market and includes firms like Alibaba (BABA ) and Tencent (TCEHY ). Recently, ETFs that focus on the Chinese market have been seeing a slight increase from their initial coronavirus decline, with the bump coming from investors "buying the dip" to gain exposure into the Chinese market. Other major ETFs include iShares MSCI China A ETF (CNYA ) and iShares China Large-Cap ETF (FXI ).
Other ETFs on the move this week:
Cloud-based computing has become a very trendy focus of trade for 2020 so far. Companies like Amazon (AMZN ), IBM (IBM ), Microsoft (MSFT ), and Google (GOOGL ) have all been ramping up their command in this sector and have been putting more focus on enhancing their technologies. Global X Cloud Computing ETF (CLOU ) has gained exponentially in 2020 due to the growth of these companies.
With more investors focusing on ESG-based funds, Invesco Solar ETF (TAN ) is at its highest level since 2015 and has reached a new record high on Wednesday. Other ESG-based ETFs include Xtrackers MSCI USA ESG Leaders Equity ETF (USSG ), iShares MSCI USE ESG Select ETF (SUSA ) and iShares ESG MSCI USA Leaders ETF (SUSL ), all of which reached new record highs on Wednesday.
Communication and Telecom based ETFs have received a nice lift from the explosive performance from Sprint (S ) and T-Mobile's (TMUS ) growth following federal approval of their merger. Vanguard Communication Services Index Fund ETF Shares (VOX ) has reached new record highs this week, and SPDR S&P Telecom ETF (XTL ) is seeing positive growth.
Momentum ETF iShares Edge MSCI USA Momentum Factor ETF (MTUM ) reached an all-time high on Tuesday on the back of stocks like RingCentral (RNG ), SBA Communications (SBAC ), Settle Genetics (SGEN ) and Roku (ROKU ) posting high performance gains in the current bull market.