Energy MLPs Beat The Market, China And Home Building Down Big - ETF Winners And Losers: Mid-Cap Returns
Portfolio Pulse from Johnny Rice
Mid-cap ETFs have shown varied performance with J.P. Morgan Alerian MLP Index ETN (AMJ) and Alerian MLP ETF (AMLP) showing positive returns, while KraneShares CSI China Internet ETF (KWEB) and iShares U.S. Home Construction ETF (ITB) have declined. AMJ and AMLP, both focused on the energy MLP sector, are up 11.08% and 14.25% YTD respectively. KWEB, offering exposure to Chinese IT stocks, is down 10.73% YTD. ITB, which invests in the US homebuilding industry, is up 36.97% YTD but down 5.80% over the trailing week.
August 22, 2023 | 9:20 pm
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NEGATIVE IMPACT
KWEB, offering exposure to Chinese IT stocks, is down 10.73% YTD and 6.10% over the week.
The fund's performance is likely due to the competitive landscape of the Chinese IT sector, where companies compete with dominant US market players.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
AMJ, offering exposure to the energy MLP sector, is up 11.08% YTD but down 0.75% over the week.
The fund's performance is likely due to the attractiveness of MLPs which are not subject to corporate tax at both state and federal levels.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
AMLP, also focused on the energy MLP sector, is up 14.25% YTD and 0.57% over the trailing week.
The fund's performance is likely due to the attractiveness of MLPs which are not subject to corporate tax and require quarterly distributions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ITB, investing in the US homebuilding industry, is up 36.97% YTD but down 5.80% over the trailing week.
The fund's performance is likely due to the overall growth in the US homebuilding industry, despite a recent downturn.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100