ETF Winners And Losers: Medium-Cap Returns - Regional Banks Bounce While Lithium Stocks Slump, KRE Up 7.54%, LIT Down 4.18%
Portfolio Pulse from Johnny Rice
Medium-cap ETFs have seen varied returns this week. SPDR S&P Regional Banking ETF (KRE) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP) have seen positive returns of 7.54% and 5.43% respectively. However, Global X Lithium & Battery Tech ETF (LIT) and KraneShares CSI China Internet ETF (KWEB) have seen negative returns of 4.18% and 3.69% respectively.
July 24, 2023 | 8:05 pm
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NEGATIVE IMPACT
KWEB has seen a negative return of 3.69% over the trailing week. The fund offers pureplay exposure to Chinese software and information technology stocks and has $5.32 billion in AUM.
The negative return of KWEB indicates a negative short term impact on the fund. The fund's exposure to Chinese software and information technology stocks may have contributed to this negative return.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
LIT has seen a negative return of 4.18% over the trailing week. The fund offers exposure to companies participating in the lithium ion battery industry and has $3.40 billion in AUM.
The negative return of LIT indicates a negative short term impact on the fund. The fund's exposure to the lithium ion battery industry may have contributed to this negative return.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
KRE has seen a positive return of 7.54% over the trailing week. The fund is linked to an equal weighted index of regional bank stocks and has $3.60 billion in AUM.
The positive return of KRE indicates a positive short term impact on the fund. The fund's diversified and evenly distributed nature may have contributed to this positive return.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
XOP has seen a positive return of 5.43% over the trailing week. The fund offers exposure to the exploration and production sub sector of the domestic oil market and has $3.76 billion in AUM.
The positive return of XOP indicates a positive short term impact on the fund. The fund's equal weighted nature may have contributed to this positive return.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100