Best-Performing ETF Areas of Last Week

The Dow Jones Industrial Average and the S&P 500 climbed to new record levels on Friday, closing out a strong month for equities. The Dow Jones rose 1.4% last week, while the S&P 500 and the Nasdaq Composite advanced 1.1%.

Semiconductor stocks provided a boost to the markets after reports from Bloomberg indicated that the United States was considering less strict export restrictions on Beijing than previously feared. The United States will now reportedly add fewer Chinese companies to an export restriction list than previously planned.

Overall, November marked the best month of 2024 for the Dow and the S&P 500, driven by optimism over potential tax cuts and a post-election rally stemming from President-elect Donald Trump’s victory. Against this backdrop, below we highlight a few regular exchange-traded funds (ETFs) that gained the most last week.

Winning ETFs in Focus  

Hydrogen

Defiance Next Gen H2 ETF HDRO – Up 9.2%

Global X Hydrogen ETF HYDR – Up 8.8%

The AI boom is boosting hydrogen stocks. The AI industry's expansion has led to an increased need for clean and sustainable energy sources, which include hydrogen as a potential fuel.  An IEA report said that by 2026, the AI industry is expected to consume at least 10 times the electricity demand it had in 2023, as quoted on CNBC.

 This energy demand is reflected in the stock market, where companies involved in green hydrogen production are gaining attention (read: Hydrogen ETFs Soared in May: Here's Why).

Biotech

ARK Genomic Revolution ETF ARKG – Up 9.0%

Global X Genomics & Biotechnology ETF GNOM – 7.5%

These ETFs benefited from extending and enhancing the quality of human and other life by incorporating technological and scientific developments, and advancements in genomics into their business. These companies generate revenues from gene editing, genomic sequencing, development and testing of genetic medicine/therapies, computational genomics and genetic diagnostics, and biotechnology.

Ethereum

Grayscale Ethereum Mini Trust ETF ETH – Up 9%

VanEck Ethereum ETF ETHV – Up 8.9%

Ethereum price jumped 7.7% last week thanks to huge interest from traders. Ethereum ETFs have maintained bullish momentum, recording net inflows of nearly $225 million in the past four trading days. Cryptocurrency ETFs are all charged up for gains owing to President-elect Trump’s pro-crypto stance. While Bitcoin rallied in early November, Ethereum gained momentum from late November.

Space

Procure Space ETF UFO – Up 8.3%

ARK Space Exploration & Innovation ETF ARKX – Up 7.1%

Trump and his supporter, Tesla TSLA chief Elon Musk, are known for boosting space research. Donald Trump championed space exploration, emphasizing a return to the Moon and eventually reaching Mars. Elon Musk, too, through SpaceX, has been instrumental in revolutionizing space travel. No wonder that space ETFs have been on a tear (read: Space ETFs Soar on Rocket Lab's Q3 Earnings Beat and New Deal).

Retail

SPDR S&P Retail ETF XRT – Up 6.8%

Last week saw sales-boosting holiday season events like Thanksgiving and Black Friday. According to the National Retail Federation, a record 183.4 million Americans are expected to shop either in-store or online during the Thanksgiving weekend (spanning five days from Thanksgiving Day through Cyber Monday), surpassing last year’s record of 182 million. The shopping spree has veered investors’ focus to this retail ETF.

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