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Biotech was the big winner last week, making up four of our 10 best ETF* performers of the week. Biotech stocks soared on news that President Trump's action on drug prices may be more industry-friendly than his campaign rhetoric suggested.
Direxion Daily S&P Biotech Bull 3x Shares (NYSE Arca: LABU) was up 40.3%, ProShares Ultra Nasdaq Biotechnology (Nasdaq: BIB) was up 19.9%, SPDR S&P Biotech ETF (NYSE Arca: XBI) gained 12.2%, and iShares Nasdaq Biotechnology (Nasdaq: IBB) rose 9.6% on the week.
Funds that bet against energy also did well. Oil fell 3.9% on the week, and natural gas fell 3.6%. That gave big wins to VelocityShares 3x Inverse Crude Oil ETN (NYSE Arca: DWT), which rose 12.7%, Direxion Daily Energy Bear 3x Shares (NYSE Arca: ERY), which was up 8.9%, Velocity Shares 3x Inverse Natural Gas ETN (NYSE Arca: DGAZ), which gained 8.4%, and ProShares UltraShort Bloomberg Crude Oil (NYSE Arca: SCO), which was up 8%.
Gold miner funds made the list for the third straight week. Gold itself was flat, but Direxion Daily Gold Miners Index Bull 3x Shares (NYSE Arca: NUGT) was up 11.3%, and Direxion Daily Junior Gold Miners Index Bull 3x Shares (NYSE Arca: JNUG) was up 11%.
*ETFs have a primary listing on a U.S. exchange and an average daily trading volume over 100,000. Data and analytics provided by FactSet.
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About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.