Top Performing Industry ETFs In June: Software Leads Returns, Chipmakers Attract Most Inflows
Portfolio Pulse from Piero Cingari
June saw significant performance disparities across sectors and industries. The technology sector led gains, with the Technology Select Sector SPDR Fund (XLK) surging 7.7%. The iShares Expanded Tech-Software Sector ETF (IGV) topped industry ETFs with an 11.3% gain, followed by the VanEck Semiconductor ETF (SMH) at 8.4%. Notable stock performers included Adobe (ADBE), CrowdStrike (CRWD), Oracle (ORCL), Broadcom (AVGO), and Scilex (SCLX). The VanEck Semiconductor ETF also attracted over $1 billion in inflows.
July 01, 2024 | 5:38 pm
News sentiment analysis
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NEGATIVE IMPACT
The Utilities Select Sector SPDR Fund dropped 6.3% in June, marking its worst month since September 2023.
Poor performance in the utilities sector negatively impacts XLU.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Adobe Inc. surged by 24.9% in June, leading software sector gains.
Strong performance in Adobe boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Alnylam Pharmaceuticals, Inc. surged by 63.7% in June, a strong performer in the biotech sector.
Strong performance in Alnylam boosts investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Broadcom Inc. led chipmakers with a 21% rise in June.
Strong performance in Broadcom boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
The Global X Copper Miners ETF attracted about $130 million in inflows in June, showing robust investor interest.
Strong inflows into COPX indicate high investor interest in copper miners.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
CrowdStrike Holdings, Inc. increased by 22.1% in June, a standout in the software sector.
Strong performance in CrowdStrike boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
The iShares Biotechnology ETF collected $148 million in inflows in June, reflecting strong investor interest.
Strong inflows into IBB indicate high investor interest in biotech.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The iShares Expanded Tech-Software Sector ETF rallied 11.3% in June, topping industry ETFs.
Strong performance in the software sector boosts IGV.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Universal Display Corporation saw a 19.7% increase in June, a strong performer among chipmakers.
Strong performance in Universal Display boosts investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Oracle Corporation rose by 20% in June, a notable performer in the software sector.
Strong performance in Oracle boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Qorvo, Inc. posted an 18% gain in June, a notable performer among chipmakers.
Strong performance in Qorvo boosts investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Avidity Biosciences, Inc. saw a robust 52% increase in June, a notable performer in the biotech sector.
Strong performance in Avidity Biosciences boosts investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Scilex Holding Company experienced a 78.8% spike in June, making it the top industry gainer.
Strong performance in Scilex boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
The VanEck Semiconductor ETF climbed 8.4% in June, reflecting strong momentum in the semiconductor sector.
Strong performance and investor interest in semiconductors boost SMH.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust gained 3.2% in June, reflecting overall market strength despite sector disparities.
The SPY's performance indicates a strong market, which is positive for investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P Biotech ETF gained 4% in June, securing the third spot in monthly performance.
Positive performance in the biotech sector boosts XBI.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The Technology Select Sector SPDR Fund surged 7.7% in June, leading all S&P 500 sectors.
Strong performance in the tech sector boosts investor confidence in XLK.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80