Week of May 13, 2024 KPI Summary
Ryan Fitzgerald- This week, the industry experienced 11 ETF launches and 1 closure, shifting the 1-year Open-to-Close ratio to 2.25 and total US ETFs to 3,511.
- Happy National “Be a Millionaire Day”, where you wonder what it’s like to be a millionaire or be grateful for being one! As a result, let’s look at the ETFs that have likely helped create some millionaires thus far in 2024 with the top performers in assets YTD.
- Nvidia ETFs
- The top 3, no surprise, are NVDX (202% YTD), NVDL (175.5%), and NVDU (135.9%); all Nvidia leveraged ETFs with the NVDA boom this year.
- NVDL is the largest of the three at $1.9 Billion.
- Bitcoin ETFs
- There are 10 Bitcoin ETFs inside the top 30 YTD performers, with 7 of them in the top 16.
- BITX, 2x Bitcoin Strategy ETF, is leading the pack at 83.6% YTD.
- The next 6 are bunched up between 49.7 – 55.6% with MAXI at the top.
- Cannabis ETFs
- 6 Cannabis ETFs are inside the top 50 performers YTD, however none cracked the top 20.
- AdvisorShares MSOS 2x Daily ETF, MSOX, leads the group at 41.4% YTD and has the highest price at 95 bps (average of the remaining 5 is 63 bps).
- The group averaged 36.7% with a tight range of 31.8 – 41.4% YTD.
- Over the past year, Roundhill’s ‘WEED’ has dominated the group with a 94.8% increase in total revenues.
- The remaining two ETFs inside the top 10 that didn’t make a category above are ProShares Ultra Silver (AGQ) and Direxion Daily FTSE China Bull 3X ETF (YINN).
- Nvidia ETFs
- The tracked indexes experienced similar performance last week. The Toroso ETF Industry Index was down 2.85% while the S&P Financial Select Sector Index led at 1.39%.
ETF Launches
Anydrus Advantage ETF (ticker: NDOW)
Direxion Daily AI and Big Data Bear 2X ETF (ticker: AIBD)
Direxion Daily AI and Big Data Bull 2X ETF (ticker: AIBU)
JPMorgan Active Developing Markets Equity ETF (ticker: JADE)
Macquarie Focused Large Growth ETF (ticker: LRGG)
Peerles Option Income Wheel ETF (ticker: WEEL)
PGIM US Large-Cap Buffer 12 ETF – October (ticker: OCTP)
PGIM US Large-Cap Buffer 12 ETF – September (ticker: SEPP)
PGIM US Large-Cap Buffer 20 ETF – October (ticker: PBOC)
PGIM US Large-Cap Buffer 20 ETF – September (ticker: PBSE)
Virtus AlphaSimplex Managed Futures ETF (ticker: ASMF)
ETF Closures
Opportunistic Trader ETF (ticker: WZRD)
Fund/Ticker Changes
None
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of May 17, 2024)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through May 17, 2024)
Why Follow the ETF Industry KPIs
The team at Tidal Investments, originally operating as Toroso Investments, began tracking the ETF Industry Key Performance Indicators (KPIs) in the early 2000s and have been consistently reporting on, and analyzing these metrics ever since. This diligent tracking was the catalyst for the creation of the TETF.Index, an index that tracks the ETF industry. Now, as part of the Tidal Financial Group, which is affiliated with Tidal Investments, LLC, we are positioned to provide even more in-depth analysis and insights. Each week, we will share the statistics we believe to be the most useful for identifying industry trends, in addition to the performance of the TETF.Index.
DISCLAIMER
Past performance is no guarantee of future returns. This article is for informational and educational purposes only; is not intended to constitute legal, tax, accounting, or investment advice; and does not constitute an offer to sell or a solicitation of an offer to buy any security or service. Furthermore, the Indexes shown above are not investable. While Tidal Investments, LLC (formerly known as Toroso Investments, LLC) has gathered the information presented from sources that it believes to be reliable, Tidal Investments, LLC cannot guarantee the accuracy or completeness of the information presented and the information presented should not be relied upon as such. Any opinions expressed are Tidal Investments, LLC’s opinions and do not reflect the opinions of any affiliates or related persons. All opinions are current only as of the date of initial publication and are subject to change without notice. All investment strategies and investments involve risk of loss, including the possible loss of all amounts invested.
