Global markets were shaky last week on rising fears of the coronavirus outbreak. Among the top ETFs, investors saw SPY lose 1.1%, DIA fall 1.5% and QQQ move 1.6% lower in the last week.
Against this backdrop, we highlight a few top and worst-performing ETFs of last week.
Best Performers
Volatility
Volatility in stock market spiked last week on renewed coronavirus fears. VelocityShares 1x Long VSTOXX Futures ETN EVIX and iPath Series B S&P 500 VIX Short-Term Futures ETN VXX added 12.2% and 10.2%, respectively last week.
Palladium
The palladium price rally seems to know no bounds. After a surge in 2019, the palladium price momentum is showing no signs of a slowdown this year as well. The rally has mainly been fueled by growing global demand and stagnating supply.
“There are few well-established palladium mines,” while demand has been rising on increased consumption of gasoline engines. Stringent emission control norms have been driving demand for palladium-using petrol cars as governments around the world look to fight climate change. Aberdeen Standard Physical Palladium Shares ETF PALL jumped 10.9% last week (read: What's Driving the Relentless Rally of Palladium ETF?).
Gold Miners
Gold had a sizzling 2020, thanks to the flare-up in equity market volatility and the resultant safe-haven rally.Last week, gold touched $1600 for the first time since 2013 and also provided a lift to mining ETFs.
iShares MSCI Global Gold Miners ETF RING (up 9.6%), Sprott Gold Miners ETF SGDM (up 8.8%) and VanEck Vectors Junior Gold Miners ETF GDXJ (up 9.8%) are a few that received a boost.
Clean Energy
Upbeat earningsfrom Enphase Energy Inc. ENPH and Tesla’s TSLA optimistic solar plan boosted the space last week. Invesco Solar ETF TAN added 8.7% last week (read: Beyond Earnings, Is It Tesla That is Energizing Clean ETFs?).
Worst Performers
Inverse Treasury
U.S. treasuries performed better last week on rising demand for safe-haven assets. iShares 20+ Year Treasury Bond ETF TLT and iShares 7-10 Year Treasury Bond ETF IEF added about 0.7% and 2.0% last week (as of Feb 22, 2020). As a result, inverse treasury ETN Barclays Inverse US Treasury Composite ETN TAPR lost about 8.7%.
South Korea
South Korea ETFs like Franklin FTSE South Korea ETF FLKR and iShares MSCI South Korea Capped ETF EWY lost about 6% each last week. Beyond China, South Korea has reported the highest number of confirmed coronavirus cases.
Coal
The rapid rise in renewable energy generation capacity and declining coal energy production have been weighing on coal price. With China being a huge consumer of coal, the coronavirus outbreak dealt a blow to the coal investing. VanEck Vectors Coal ETF KOL has lost 4.9% in the past week.
Japan
Japan’s economy has also fallen prey to coronavirus. China is Japan’s second-biggest export destination. Not only carmakers, retailers are also eyeing China’s economy for expansion. Japan’s tourism industry will also suffer as China accounted for about 30% of all tourists visiting Japan and about 40% of the total outlays by foreign tourists last year, per an industry survey.
In any case, Japan’s economy has been struggling with lower consumer spending due to a sales tax hike last October. iShares MSCI Japan Small-Cap ETF SCJ (down 4.9%) andWisdomTree Japan SmallCap Dividend Fund DFJ (down 4.7%) are two of the worst-performing Japan ETFs (read: Tough Time for Japan ETFs? COVID-19 Alone Isn't the Culprit).
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iShares 20+ Year Treasury Bond ETF (TLT): ETF Research Reports
Tesla, Inc. (TSLA) : Free Stock Analysis Report
Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
iShares 7-10 Year Treasury Bond ETF (IEF): ETF Research Reports
Invesco Solar ETF (TAN): ETF Research Reports
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX): ETF Research Reports
VanEck Vectors Coal ETF (KOL): ETF Research Reports
Sprott Gold Miners ETF (SGDM): ETF Research Reports
WisdomTree Japan SmallCap Dividend ETF (DFJ): ETF Research Reports
iShares MSCI Global Gold Miners ETF (RING): ETF Research Reports
iShares MSCI South Korea ETF (EWY): ETF Research Reports
VanEck Vectors Junior Gold Miners ETF (GDXJ): ETF Research Reports
Barclays Inverse US Treasury Composite ETN (TAPR): ETF Research Reports
Aberdeen Standard Physical Palladium Shares ETF (PALL): ETF Research Reports
Sprint Corporation (S) : Free Stock Analysis Report
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Top and Flop ETFs of Last Week - Yahoo Finance
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