This Week's Top Performing ETFs: 08/23/2020
August 24, 2020 at 16:06 PM EDT
These were last week’s top performing ETFs. We’ve excluded funds which use leverage or make inverse bets on their underlying assets. This past week was a bet for FANGs. While the regular MicroSectors FANG+ ETN (FNGS) was up 7.82%, its leveraged cousins, the MicroSectors FANG+™ Index 3X Inverse Leveraged ETN (FNGU) and MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) ere up a colossal 24.55% and 15.99% respectively. FANG” companies are those like Facebook, Apple, Amazon, Netflix, and Alphabet (formerly Google), not a bad bet in the 2020 work from home year. Notably we also see gains for the Reality Shares Nasdaq NexGen Economy ETF (BLCN) which has a 36% allocation to technology and almost 8% in communications, as well as the ARK Next Generation Internet ETF (ARKW). Guess it was a good week for tech wizards.