First Trust DJ Internet Index Fund (ARCA: FDN)

Ultime notizie per First Trust DJ Internet Index Fund (ARCA:FDN)

Technology

Communication Services

Consumer Cyclical

Financial Services

Healthcare

The Fund will normally invest at least 90 percent of its net assets including investment borrowings in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by S&P Dow Jones Indices LLC. The Index Provider reserves the right to make exceptions when applying the methodology if the need arises. In addition, the Index Provider may revise Index policy covering rules for selecting companies, treatment of dividends, share counts or other matters.

Amazon.Com Inc

Meta Platforms Inc

Alphabet Inc. Class A Common Stock

Alphabet Inc.

Netflix

Cisco Systems Inc

Salesforce Inc

Arista Networks Inc.

Paypal Hldgs

Airbnb Inc

First Trust DJ Internet Index Fund

First Trust Exchange-Traded Fund IV FT Vest Dow Jones Internet & Target Income ETF

First Trust Dow Jones International Internet ETF

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading higher on Tuesday. The company introduced Agentforce, which is a new feature that enables companies to develop AI agents capable of autonomously performing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41596727/salesforces-agentforce-is-here-trusted-autonomous-ai-agents-to-scale-your-workforce" rel="noreferrer noopener">tasks across various business functions</a>.
Agentforce uses advanced reasoning to make decisions and execute actions, such as resolving customer inquiries and optimizing marketing campaigns. These agents operate independently, triggered by data changes, business rules, or API signals.
Agentforce includes customizable out-of-the-box agents that are easily deployed using low-code or no-code tools, operating continuously across all channels.
The first available agent, the Agentforce Service Agent, outperforms traditional chatbots by handling a broad range of tasks, from simple inquiries to complex issues, with pre-built topics and actions for customer support.
Users can tailor these agents for different industries, such as retail for order management or financial services for billing and payment support.
The Agentforce layer is seamlessly integrated into the Salesforce Platform, leveraging data, AI, and Salesforce&#8217;s Customer 360 ecosystem, all built on a reliable foundation.
This integration enhances the capabilities of agents, allowing for unlimited scalability, proactive actions across various roles and channels, and contextual awareness of every customer interaction.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41444585/copilots-a-flop-because-microsoft-lacks-the-data-salesforce-ceo-slams-rebranding-of-ai-tool-to-agent" rel="noreferrer noopener">&#8216;Copilot&#8217;s A Flop Because Microsoft Lacks The Data,&#8217; Salesforce CEO Slams Rebranding Of AI Tool To &#8216;Agents:&#8217; &#8216;That&#8217;s Panic Mode&#8217;</a>
Investors can gain exposure to the stock via&nbsp;iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and&nbsp;First Trust DJ Internet Index Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: CRM shares are up 1.87% at $299.26 at the last check Tuesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41538144/marc-benioff-warns-microsofts-copilot-spills-corporate-data-emphasizes-security-gaps-ahead-of-sa" target="_blank" rel="noreferrer noopener">Marc Benioff Warns Microsoft&#8217;s Copilot &#8216;Spills Corporate Data,&#8217; Emphasizes Security Gaps Ahead Of Salesforce Agentforce Launch</a></li>
</ul>

Equities

Large Cap

News

First Trust Dow Jones Internet Index Fund

Salesforce Launches Agentforce, Redefining AI In Business With Autonomous Solutions

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) collaborated with Blue Shield of California to provide physicians and patients with nearly instant prior authorization answers, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41427418/blue-shield-of-california-salesforce-making-prior-authorization-as-simple-as-using-a-credit-card" rel="noreferrer noopener">eliminating the typical days-long wait</a>.
The new platform will integrate with Care Connect, Blue Shield&#8217;s care management system, establishing a clinical infrastructure that emphasizes ongoing preventive care and wellness rather than just responding to medical needs.
In the future, prior authorization requests will automatically notify the health plan&#8217;s nurses, social workers, and behavioral health specialists when a member may require new or enhanced health support.
The nonprofit health plan&#8217;s prior authorization platform, developed on Salesforce Health Cloud, will integrate with physician systems to collect essential clinical data from electronic health records and streamline over 20 disparate systems.
This will enable members and physicians to receive prior authorization in nearly real-time.
The testing will start in early 2025, with a limited rollout later that year. Full real-time authorization capabilities are expected by January 2026, followed by additional features.
Jeff Amann, executive vice president and general manager, Salesforce Industries said, &#8220;With Blue Shield of&nbsp;California, we&#8217;re rebuilding the prior authorization process with new innovations that support near real-time decision-making so providers can more quickly, transparently and compliantly deliver the attentive care their patients deserve.&#8221;
Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: CRM shares are down 0.51% at $291.44 at the last check Monday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/10/41428765/microsoft-salesforce-battle-heats-up-as-ai-agent-technology-takes-center-stage" target="_blank" rel="noreferrer noopener">Microsoft, Salesforce Battle Heats Up As AI Agent Technology Takes Center Stage</a></li>
</ul>

Contracts

Salesforce Cuts Wait Times In Healthcare, New Collaboration Transforms Prior Authorizations

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/markets/equities/24/06/39454317/nvidia-stock-slides-nearly-2-in-premarket-following-last-weeks-pullback-whats-going-on">gained over 6% </a>on Tuesday after losing a staggering $550 billion in market value since Thursday, June 20. The company had become the most valuable on the planet last week when it reached a market capitalization of $3.46 trillion.
The artificial-intelligence company has risen back to $3.10 trillion by Tuesday after falling 16% since Thursday, settling in as the third most valuable corporation behind Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which is valued at $3.34 trillion, and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which holds $3.22 trillion in value.
Concerns about Nvidia's grip on the S&amp;P 500 Index after soaring almost 140% this year have some analysts warning that a large enough sell-off for the chipmaker could spark a broader market slump, the Financial Times <a href="https://www.ft.com/content/7332b1f8-cf7c-4bfa-82f4-88d0deb23f98">reported</a>.
Also read: <a href="https://www.benzinga.com/trading-ideas/technicals/24/06/39482710/nvidia-stock-drops-over-12-in-3-trading-days-indicators-suggest-whats-next">Nvidia Stock Drops Over 12% In 3 Trading Days: Indicators Suggest What&#8217;s Next</a>
"If Nvidia corrects pretty hard in the coming months, it becomes very difficult for the [S&amp;P 500] to keep rising," Barry Bannister, chief equity strategist at Stifel, told FT. &#8220;And Nvidia will decelerate.&#8221;
Shares fell 4% on Monday, following disclosures on Friday that chief executive and co-founder, Jensen Huang, sold almost $95 million worth of the stock in the days around its climb to the world's most valuable company. The trades were part of a previously scheduled Rule 10b5-1 sale plan set up in March, filings show, according to the Financial Times.
Nvidia's fall from Thursday, June 20, to Tuesday has weighed on the broader chipmaking sector, with the PHLX Semiconductor Index (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOX#NASDAQ">SOX</a>) down 2.5% and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the tech-dominated Nasdaq Composite, was down 0.4% since Thursday.
On Tuesday the iShares U.S. Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>) gained 1.7%, Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>) jumped1.4% and First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>) rose by 1.4%.
Read now: <a href="https://www.benzinga.com/news/earnings/24/06/39476084/nasdaq-s-p-500-futures-firm-up-as-nvidia-poised-to-lead-tech-rebound-expert-says-a-major-gaffe-by-o">Nasdaq, S&amp;P 500 Futures Firm Up As Nvidia Poised To Lead Tech Rebound: Expert Says &#8216;A Major Gaffe By One Of The Candidates&#8217; In Presidential Debate Could Alter Market Trajectory</a>
Photo: Shutterstock

Movers

Tech

AAPL

AMZN

FTEC

iShares Dow Jones US Technology Sector Index Fund

MSFT

NVDA

Nvidia Rebounds Over 6% After $550B Market Cap Loss

Software company Salesforce Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are ticking higher after the company announced London as the location for its first artificial intelligence (AI) center.
Salesforce shares are trading higher by 3.36% at $244.64 at last check Thursday.
What Happened: The company&#8217;s facility aims to foster collaboration among industry experts, developers, and customers, facilitating innovation and skill development in AI, reported Reuters.
Salesforce is hosting 18,000 attendees at its annual London World Tour event on Thursday. A year ago, the U.S. cloud software company <a href="https://www.benzinga.com/markets/equities/23/06/33054986/salesforce-plans-4b-investment-in-its-uk-business-over-5-years">announced a $4 billion investment in Britain </a>over the next five years, with a focus on advancing AI technologies.
Zahra Bahrololoumi, chief executive of Salesforce U.K. and Ireland, highlighted the enthusiasm among customers regarding AI&#8217;s potential benefits, coupled with a cautious approach to emerging risks. 
&#8220;No company will adopt AI unless they can trust it, which is why we are so well positioned,&#8221; she said, referring to Salesforce&#8217;s Einstein technology that includes a &#8220;Trust Layer&#8221; to protect customer data.
Related Read: <a href="https://www.benzinga.com/markets/equities/24/06/39190698/snowflake-ceo-targets-ai-acquisitions-to-boost-growth-report">Snowflake CEO Targets AI Acquisitions To Boost Growth: Report</a>
Why It Matters: Salesforce is &#8220;sending a clear message to customers and partners on AI,&#8221; Bahrololoumi emphasized.
The goal is to work closely with customers and partners to harness AI&#8217;s transformative potential responsibly.
Salesforce is &#8220;deeply committed to working closely together so that you can reap the rewards of this transformative technology, while ensuring it is a force for good,&#8221; Bahrololoumi said. 
In May, Salesforce posted its first quarterly revenue miss since 2006, along with <a href="https://www.benzinga.com/24/05/39112269/salesforce-still-confident-about-becoming-an-ai-era-winner-despite-disappointing-quarter">providing a softer-than-expected guidance</a>.
Analyst Reaction: Goldman Sachs analysts&nbsp;find Salesforce&nbsp;to be&nbsp;"an under-appreciated generative AI winner.&#8221;&nbsp;There is&nbsp;room for meaningful margin expansion, they say.
Price Action: Salesforce stock has gained about 11% in the last 12 months. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Disclaimer:This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

General

What's Happening With Cloud Software Company Salesforce's Shares On Thursday?

Piper Sandler&nbsp;analyst James Fish reiterated&nbsp;Cisco Systems Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) with a Neutral and raised the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/CSCO/analyst-ratings" rel="noreferrer noopener">price target from $47 to $51</a>.
On March 14, Cisco won the EU clearance for its pending Splunk deal, resulting in Cisco closing on Splunk on March 18, long ahead of the initial close date and giving Cisco approximately half a quarter of its contribution in the fiscal third quarter.&nbsp;
Cisco raised $13.5 billion of debt at a 5% average cost of debt at the end of February to finance the transaction.&nbsp;
Fish&#8217;s &#8220;Base&#8221; Case that is now included in his estimates given the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37780307" rel="noreferrer noopener">deal closure results in Splunk&nbsp;</a>achieving over $5 billion of revenue by fiscal 2026, Splunk (with synergies) having 38% operating margin in fiscal 2026. The analyst projects $0.02 EPS and $403 million free cash flow accretion for fiscal 2025 and $0.17 EPS and $1.2 billion free cash flow accretion for fiscal 2026.&nbsp;
Notably, his &#8220;Realistic Upside&#8221; case shows more stable growth at Splunk given where it is at on its transition and more material cost synergies that result in over 50% fiscal 2026 Splunk-only operating margin and $0.37 EPS and $1.8 billion free&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">cash flow in fiscal 2026 accretion.&nbsp;</a>
The analyst lauded Cisco&#8217;s increasing visibility, Splunk&#8217;s impact, Cat9K renewals, a refresh of old and end-of-life systems, consistent capital return program installed, estimate reset for core Cisco, potential for AI via SiliconOne or datacenter Ethernet systems, and valuation.
However, Fish also red-flagged Cisco&#8217;s exposure to networking&#8217;s down-cycle outside of AI, too little relative exposure to the Cloud vertical and high-end data center switches, management&#8217;s downward revision of forward numbers over the last four quarters, and Organic Security and Collaboration are struggling.
Fish projects third-quarter revenue and EPS of $12.7 billion and $0.86.
Cisco stock lost close to 4% last year. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Cybersecurity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) and&nbsp;First Trust DJ Internet Index Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37170678/ciscos-long-term-prospects-shine-with-ai-and-security-analysts-stay-optimistic-despite-challenges" rel="noreferrer noopener">Cisco&#8217;s Long-Term Prospects Shine with AI and Security, Analysts Stay Optimistic Despite Challenges</a>
Price Action: CSCO shares traded higher by 0.03% at $49.15 on the last check Wednesday.
Photo via Shutterstock

Analyst Color

Price Target

Reiteration

Analyst Ratings

Trading Ideas

CIBR

CSCO

Cisco Secures Splunk - A Game Changer For Growth And Free Cash Flow, Says Analyst

The July jobs report issued Friday delivered mixed takeaways for the market, although it confirmed an overall <a href="https://www.benzinga.com/economics/macro-economic-events/23/08/33573419/julys-mixed-jobs-report-payrolls-miss-estimates-unemployment-rate-dips-wages-surp">healthy U.S. labor market.</a>
On one hand, the pace of nonfarm payrolls growth fell short of forecasts in July, with 187,000 jobs gained compared to the expected 200,000. On the other hand, the jobless rate fell to 3.5%, exceeding expectations of 3.6%. Wages increased at a monthly pace of 0.4% and an annual rate of 4.4%, which was faster than expected.
<h2 class="wp-block-heading">Biden, Fed Governor On July&#8217;s Jobs Report</h2>
The market interpreted the jobs report in a dovish manner, lowering expectations for potential interest rate hikes in September. Market-derived probabilities put the chance of a 25-basis-point hike in September at 13%, down from 19% before the report was issued Friday morning. 
President Joe Biden applauded the job market data, emphasizing that the share of working-age Americans with jobs has reached a 20-year high. He attributes this positive trend to the effects of his economic policies, often referred to as &#8220;Bidenomics.&#8221;
Atlanta Fed President Raphael Bostic said the Fed is likely to remain into restrictive territory well into 2024 and said he is unsurprised wages remain strong.
Five stocks from the Russell 1000 index (large-cap) and five exchange-traded funds had substantial price action in the opening minutes of trading Friday as a result of jobs data and the movement in interest rates, as well as statements regarding quarterly corporate results.
Read now: <a href="https://www.benzinga.com/23/08/33561045/lawmakers-press-biden-to-address-us-investment-risks-in-china-for-too-long-america-has-funded-the-ch">Lawmakers Press Biden To Address US Investment Risks In China: &#8216;For Too Long, America Has Funded The China Communist Party&#8217;s Military Buildup&#8217;</a>
<h2 class="wp-block-heading">5 Stocks Rallying On Friday</h2>
<ul>
<li>Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) surged by an impressive 19% as the company massively surpassed Street&#8217;s estimates in the last quarter, prompting Barclays to raise its price target from $165 to $195.</li>
<li>Natera Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NYSE">NTRA</a>) soared 16% after delivering better-than-expected results in the second quarter. </li>
<li>Universal Display Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NASDAQ">OLED</a>) rose 11% following its stronger-than-expected earnings and revenues, with both Needham and Deutsche Bank raising their price targets.</li>
<li>Cloudflare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NET#NASDAQ">NET</a>) experienced a 10% rally after it reported stronger-than-anticipated earnings, leading Needham to increase the price target from $75 to $85. </li>
<li>Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) gained nearly 10%, achieving its strongest daily performance since November 2022 due to a surprise EPS and revenue beat in the last quarter.</li>
</ul>
<h2 class="wp-block-heading">5 ETFs Rallying On Friday</h2>
<ul>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) saw a notable 2.2% increase in stocks within the consumer discretionary sector, largely driven by a surge in the ETF&#8217;s heavyweight, Amazon.</li>
<li>VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) experienced a boost of 1.8% in response to rising gold prices that were fueled by a declining dollar.</li>
<li>iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) surged 1.7%, aided by a 1% increase in the value of the Mexican peso. </li>
<li>First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>) rose 1.2%, led by Amazon, Cloudflare and Atlassian. </li>
<li>iShares JP Morgan USD Emerging Market Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMB#NYSE">EMB</a>) recorded an impressive 1% gain, marking its best daily performance of the week. A lower U.S. dollar and declining Treasury yields contributed to the strength of emerging market bonds.</li>
</ul>
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33575375/atlassian-performs-despite-macro-headwinds-4-analysts-on-q4-print-outlook">Atlassian Performs Despite Macro Headwinds: 4 Analysts On Q4 Print, Outlook</a>
Photo via Shutterstock.

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Emerging Market ETFs

Economics

Federal Reserve

Markets

ETFs

iShares JPMorgan USD Emerging Markets Bond Fund

GDXJ

NTRA

OLED

TEAM

Select Sector SPDR-Consumer Discretionary

Investors Cheer Jobs Report: Why Are These 5 Stocks And 5 ETFs Shining On Friday?

As the second quarter comes to a close, it&#8217;s time to look at the performance of industry ETFs and the stocks that helped shape <a href="https://www.benzinga.com/general/biotech/23/03/31609224/top-5-best-and-worst-u-s-industry-etfs-in-q1-2023-ai-and-bank-turmoil-shaped-stock-returns">their respective sector returns. </a>
With the S&amp;P 500 Index, as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), up 6% during this time, investors are eager to know which industries have outperformed or lagged behind the overall market over the quarter. 
<h2 class="wp-block-heading">Best Performing Industry ETFs in Q2 2023</h2>
The top five performing Industry ETFs in the second quarter of the year were:
5) First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)
<ul>
<li>Description: FDN tracks the performance of the Dow Jones Internet Composite Index, providing exposure to leading internet companies.</li>
<li>Performance quarter-to-date (as of June 26): 7.4%</li>
<li>Top three holdings: Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (9.76%), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) (9.47%), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) (7.7%). </li>
<li>Top three stock contributors (% added to industry quarterly performance): AMZN (2.5%), META (2.2%), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) (1.2%)</li>
</ul>
4) US Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>)
<ul>
<li>Description: JETS invests in the global airline industry, including airlines, manufacturers, and airport services, allowing investors to access the aviation sector.</li>
<li>Performance quarter-to-date (as of June 26): 9.4%</li>
<li>Top three holdings: Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) (10.7%), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) (10.5%), American Airlines Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NYSE">AAL</a>) (10.2%) </li>
<li>Top three stock contributors: DAL (3.4%), United Airlines Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>) (2.7%), SkyWest Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) (2%). </li>
</ul>
3) iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)
<ul>
<li>Description: IGV aims to replicate the performance of the S&amp;P North American Technology-Software Index, offering exposure to the software industry.</li>
<li>Performance quarter-to-date (as of June 26): 10.4%</li>
<li>Top three holdings: Adobe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) (9.1%), Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) (8.9%), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) (8.5%)</li>
<li>Top three stock contributors: ORCL (2.6%), ADBE (2.4%), MSFT (1.5%). </li>
</ul>
2) VanEck Vectors Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>)
<ul>
<li>Description: SMH seeks to track the MVIS US Listed Semiconductor 25 Index, providing exposure to companies in the semiconductor industry.</li>
<li>Performance quarter-to-date (as of June 26): 12.2%</li>
<li>Top three holdings: NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) (19.6%), Taiwan Semiconductor Manufacturing Company Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NASDAQ">TSM</a>) (11.8%), Bradcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) (5.1%)</li>
<li>Top three stock contributors: NVDA (7.9%), AVGO (1.4%), TSM (1.2%) </li>
</ul>
1) iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)
<ul>
<li>Description: ITB invests in U.S. companies involved in home construction and improvement, allowing investors to participate in the housing sector.</li>
<li>Performance quarter-to-date (as of June 26): 16.7%</li>
<li>Top three holdings: D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) (15.4%), Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) (12.8%), and NVR Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) (7.7%) </li>
<li>Top three stock contributors: DHI (3.6%), LEN (2.3%), PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) (2.2%)</li>
</ul>
See Also: <a href="https://www.benzinga.com/government/23/06/32913576/us-builders-are-the-most-confident-theyve-been-about-new-single-family-homes-in-11-months" target="_blank" rel="noreferrer noopener">US Builders Are The Most Confident They&#8217;ve Been About New Single-Family Homes In 11 Months</a>
<h2 class="wp-block-heading">Top Performing U.S. Industry ETFs For The Quarter</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1024x759.png" alt="" class="wp-image-58013" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1024x759.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-300x222.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-768x569.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1536x1138.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e.png 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Worst Performing Industry ETFs in Q2 2023</h2>
The worst five performing Industry ETFs in the second quarter of the year were:
5) VanEck AgriBusiness ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOO#NYSE">MOO</a>)
<ul>
<li>Description: MOO seeks to replicate the performance of the MVIS Global Agribusiness Index, offering exposure to companies involved in various segments of the agricultural industry, including farming, fertilizers, equipment, and more.</li>
<li>Performance quarter-to-date (as of June 26): down by 6.7%</li>
<li>Top three holdings: Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) (8.54%), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) (8.3%), and Bayer Aktiengesellschaft (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (6.95%).</li>
<li>Worst 3 stock contributors: Nutrien Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) (-1.1%), The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) (-0.5%), and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) (-0.4%).</li>
</ul>
4) SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>)
<ul>
<li>Description: XME follows the S&amp;P Metals &amp; Mining Select Industry Index, investing in companies involved in metals and mining production.</li>
<li>Performance quarter-to-date (as of June 26): down by 7.7%</li>
<li>Top three holdings: Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) (4.8%), Alpha Metallurgical Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) (4.7%), and Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) (4.6%).</li>
<li>Worst three stock contributors: MP materials corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) (-0.9%), Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) (-0.8%), and Peabody Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) (-0.7%).</li>
</ul>
3) SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>)
<ul>
<li>Description: KRE seeks to replicate the performance of the S&amp;P Regional Banks Select Industry Index, providing exposure to regional banking companies.</li>
<li>Performance quarter-to-date (as of June 26): down by 8.6%</li>
<li>Top three holdings: New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) (2.08%), Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) (2.06%), and Cullen/Frost Bankers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>) (2.06%).</li>
<li>Worst 3 stock contributors: First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) (-0.9%), PacWest Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACW#NASDAQ">PACW</a>) (-0.5%), and Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) (-0.4%).</li>
</ul>
2) Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>)
<ul>
<li>Description: PBW aims to track the WilderHill Clean Energy Index, offering investors exposure to clean energy companies.</li>
<li>Performance quarter-to-date (as of June 26): down by 9.3%</li>
<li>Top three holdings: Bel Fuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BELFA#NASDAQ">BELFA</a>) (2.4%), Joby Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) (2.3%), and Fluence Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) (2.04%).</li>
<li>Worst 3 stock contributors: Workhorse Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) (-0.5%), Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) (-0.4%), and Wallbox N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBX#NASDAQ">WBX</a>) (-0.4%).</li>
</ul>
1) Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>)
<ul>
<li>Description: TAN tracks the MAC Global Solar Energy Index, providing investors with exposure to companies involved in the solar energy industry.</li>
<li>Performance quarter-to-date (as of June 26): negative by 11.8%</li>
<li>Top three holdings: First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) (9.9%), Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) (9.4%), and SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) (8.9%).</li>
<li>Worst three stock contributors: ENPH (-2.1%), FSLR (-1.8%) and SEDG (-1.3%). </li>
</ul>
Read now: <a href="https://www.benzinga.com/markets/options/23/06/33011147/this-is-what-whales-are-betting-on-first-solar" target="_blank" rel="noreferrer noopener">This Is What Whales Are Betting On First Solar</a>
<h2 class="wp-block-heading">Worst Performing U.S. Industry ETFs For The Quarter</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1024x759.png" alt="" class="wp-image-58014" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1024x759.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-300x222.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-768x569.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1536x1138.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0.png 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

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Unmasking Q2 2023's Stars & Strugglers: Industry ETFs And Top Stock Standouts

The latest&nbsp;U.S. labor market report&nbsp;showed a remarkable rise in non-farm payrolls in May, with a surprising gain of 339,000.
This marks the strongest pace of employment growth since January 2023.
This surprising jump also bucked&nbsp;projections of a decline in job growth to 180-190,000 the revised April result of 294,000, signaling <a href="https://www.benzinga.com/economics/macro-economic-events/23/06/32689386/us-labor-market-on-fire-may-jobs-data-reveals-employment-boom-steady-wage-growth-" target="_blank">healthy employment conditions overall. </a>
May&#39;s&nbsp;jobs&nbsp;report also indicated notable variations in employment growth&nbsp;between industries, underscoring the importance for investors to monitor these <a href="http://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a>-specific trends closely.
<h3>Which Industries Added the Most And Least Jobs in May?</h3>
<ul>
<li>Private education and health services led with 97,000 new hires, driven by a 52,400 employment growth in health care.</li>
<li>Professional and business services witnessed an increase of 64,000 jobs.&nbsp;</li>
<li>
Leisure and hospitality added 48,000 employees, with food services and drinking places contributing 33,000.
</li>
<li>
Construction industry saw a surge of 25,000 jobs.
</li>
<li>
Employees in transportation and warehousing grew by 24,200, driven by transit, ground passenger transportation, and couriers.
</li>
<li>
Financial activities hired 10,000 employees, with finance and insurance adding 7,100 jobs and real estate and rental and leasing adding 2,800 jobs. Within this industry, commercial banking saw 5,800 layoffs.
</li>
<li>
Utilities, wholesale trade, and mining/logging had minimal employment growth.
</li>
<li>
The nondurable goods industry&nbsp;experienced a loss of 5,000 jobs.
</li>
<li>
The information industry suffered the most job losses, down by 9,000.&nbsp;Publishing and telecommunications segments both recorded a loss of 2,500 jobs. 
	&nbsp;
</li>
</ul>
<h3>How Those Industries&#39; ETFs Performed: Winners And Losers</h3>
While tech-related industries such as semiconductors, the internet, and software have had strong growth in the last month, driven by the <a href="https://www.benzinga.com/topic/artificial-intelligence" target="_blank">AI rally</a>. Other sectors such as agriculture, mining, and retail have lagged.
Here are some industry ETF performance highlights over the past month:&nbsp;
<ul>
<li>VanEck Semiconductor ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smh#NASDAQ">SMH</a>) up 17.1%.</li>
<li>First Trust Dow Jones Internet Index Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NASDAQ">FDN</a>) up 12.3%.</li>
<li>iShares Expanded Tech-Software Sector ETF (ARCA: IGV) up 11.3%.</li>
<li>SPDR S&amp;P 500 Retail ETF (ARCA: XRT) down by 4%.</li>
<li>VanEck Gold Miners ETF (ARCA: GDX) down by 5.2%.</li>
<li>VanEck Vectors Agribusiness ETF (ARCA: MOO) down by 7.4%.</li>
</ul>
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/penny-stocks/23/06/32682660/benzingas-stock-whisper-index-5-stocks-investors-are-secretly-monitoring-but-not-talking-abo" target="_blank">Benzinga&#39;s &#39;Stock Whisper&#39; Index: 5 Stocks Investors Are Secretly Monitoring But Not Talking About Yet</a>
Image: Pixabay

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Which Industries Are Hiring The Most/Least Right Now  - What May Jobs Data Shows

Canadian e-commerce juggernaut Shopify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shop#NYSE">SHOP</a>) is on a stellar run, one that&#39;s eliciting calls of &ldquo;story stock&rdquo; status. With the shares higher by almost 52% over the past month, those calls are proving accurate.
With a market capitalization of $90.15 billion as of the May 14 close and using Amazon.com (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) as the comparison, Shopify could have plenty of growth ahead of it. E-commerce <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/04/15880678/3-e-commerce-etfs-for-the-online-shopping-boom">and online shopping sure do</a>.
Speaking of Amazon, that stock&#39;s price tag is unapproachable for many ordinary investors and that&#39;s getting to be the case with Shopify following the May 14 close just over $754.
With that in mind, investors may want to consider some of the following exchange traded funds for proxy-like exposure to Shopify.
<h3>JPMorgan BetaBuilders Canada ETF (BBCA)</h3>
With its recent, Shopify is now the largest Canadian company by market value and is now the second-largest component in the JPMorgan BetaBuilders Canada ETF (CBOE: BBCA). BBCA itself is the largest Canada ETF trading in the U.S., besting a rival product from iShares by $1.3 billion.
However, Shopify can&#39;t carry the day for the two Canada ETFs as highlighted by year-to-date losses of about 21% for both funds. That underscores the intimate correlations Canadian stocks often share with oil prices.
<h3>First Trust Dow Jones International Internet ETF (FDNI)</h3>
The First Trust Dow Jones International Internet ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fdni#NASDAQ">FDNI</a>) is the international counterpart to the popular First Trust Dow Jones Internet ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>). While FDN is heavy on the likes of Amazon and Facebook (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>), FDNI lays claim to being the ETF with the largest Shopify weight at about 10%.
FDNI&#39;s Shopify weight is about 230 basis points higher than the ETF with the second-largest allocation to the stock. Overall, FDNI is a play on international equities with popular <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/05/16017174/3-etfs-to-order-out-with-if-uber-buys-grubhub">internet shopping footprints</a> and is heavy on emerging markets stocks. The First Trust fund is higher by 14.1% this year.
<h3>Global X Cloud Computing ETF Global X Cloud Computing ETF (CLOU)</h3>
As noted here earlier this week, <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/05/16003112/3-soaring-cloud-computing-etfs">cloud ETFs are on fire</a> this year and that includes the Global X Cloud Computing ETF Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>). CLOU is the ETF with the second-largest Shopify allocation at 7.7%.
Of the roughly 30 ETFs with Shopify allocations, only FDNI and CLOU have weights north of 7% to the stock. Of the trio mentioned here, CLOU is the best-performing one this year as its higher by over 17%.
Photo credit: Raysonho @ Open Grid Scheduler, via <a href="https://commons.wikimedia.org/wiki/File:ShopifyTorontoOffice.jpg">Wikimedia Commons</a>

Long Ideas

Retail Sales

BBCA

CLOU

FDNI

SHOP

3 ETFs With Big-Time Shopify Exposure

Having debuted last June, the O&rsquo;Shares Global Internet Giants ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogig#NYSE">OGIG</a>) is one of the newest Internet exchange traded funds listed in the U.S.
Youth aside, OGIG is setting a torrid pace in 2019 with a year-to-date gain of just over 28 percent.
<h3>What Happened</h3>
OGIG&#39;s stellar performance to start 2019 may imply investors have missed out on some easy money, but a confluence of factors, including the <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/03/13374294/click-here-for-a-soaring-retail-etf">ongoing e-commerce boom</a>, support long-term upside for OGIG. The fund tracks the O&rsquo;Shares Global Internet Giants Index.
OGIG itself is &ldquo;designed to provide investors with the means to invest in some of the largest global companies that derive most of their revenue from the Internet and e-commerce sectors that exhibit quality and growth potential,&rdquo; <a href="https://oshares.com/ogig/">according to O&#39;Shares</a>.
<h3>Why It&#39;s Important</h3>
On its own, OGIG&#39;s 2019 gain of 28.05 percent is impressive, but that performance is even more impressive when considering the O&#39;Shares fund is beating the First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>), the largest U.S.-listed Internet ETF, by almost 600 basis points.
One of the obvious reasons why OGIG is trouncing its rival is China. The O&#39;Shares ETF has exposure to Chinese e-commerce and Internet stocks while the rival FDN solely focuses on U.S. companies. That is an important distinction when considering China had 2018 e-commerce sales of $1.3 trillion compared to $513 billion in the U.S.
&ldquo;The rapid adoption of e-commerce in China has helped fuel regional dominance from Asia-Pacific,&rdquo; <a href="https://oshares.com/ogig/">according to O&#39;Shares research</a>. &ldquo;In 2010, Asia- Pacific accounted for only a third of total e-commerce. As of last year, that proportion had grown to 60%. North America and Europe comprised a total of 36%, at 21% and 15%, respectively. By 2021, Asia-Pacific&rsquo;s share of global e-commerce is projected to grow to 67%.&rdquo;
<h3>What&#39;s Next</h3>
In terms of what&#39;s next for OGIG, likely more growth on the e-commerce front and China will be leading that charge. Last year, online retail sales accounted for 22 percent of all Chinese retail sales.
&ldquo;In China, Alibaba holds a one day online retail event called Singles Day, which is even larger than Black Friday and Cyber Monday combined,&rdquo; said O&#39;Shares. &ldquo;Over 24 hours, Alibaba&rsquo;s sales exceeded $30 billion, up over 25% compared to 2017.&rdquo;
Alibaba Group Holding Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) is OGIG&#39;s third-largest holding at a weight of 6 percent.
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It's Not Too Late To Embrace This Internet ETF

The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/11/12758020/analyst-fang-stocks-growth-fundamentals-remain-relative">FAANG stocks</a>, among others, make for easy culprits behind the recent slide in momentum stocks and the related exchange traded funds.
It may be overly simplistic, but a key element of momentum investing is that it works until doesn&#39;t. FAANG and other momentum fare worked for a while, but the good times were interrupted last month, pressuring some well-known ETFs in the process.
<h3>What Happened</h3>
Different momentum strategies apply the factor in varying ways. The popular iShares Edge MSCI USA Momentum Factor ETF (CBOE: MTUM) is mostly a price momentum strategy while the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fv#NASDAQ">FV</a>) is rooted in relative strength.
As is the case with many basic growth and momentum ETFs, MTUM is heavily allocated to the technology and consumer discretionary sectors. Even with the recent deterioration in those groups, those two sectors combine for over <a href="https://www.ishares.com/us/products/251614/?referrer=tickerSearch">56 percent of MTUM&#39;s weight.</a>
&quot;Within the tech sector, the relative strength for three of MTUM&rsquo;s largest sub-industries (data processing &amp; outsourced services and semiconductors in the technology sector and aerospace &amp; defense in the industrials sector) has weakened in recent months,&rdquo; said <a href="https://newpublic.cfraresearch.com/">CFRA Research</a> Director of ETF &amp; Mutual Fund Research Todd Rosenbluth in a Tuesday note.
<h3>Why It&#39;s Important</h3>
How funds arrive at momentum matters for investors&#39; outcomes. For 90 days ending Nov. 26, MTUM was down 11.1 percent. That&#39;s obviously bad, but not nearly as bad as the 14.3&nbsp;percent shed over the same period by FV.
FV holds five other First Trust ETFs displaying positive relative strength traits, but the ETF&#39;s FAANG and technology exposure is massive as a technology sector fund, a Nasdaq-100 Index ETF and the First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>) combine for about 60 percent of FV&#39;s roster.
<h3>What&#39;s Next</h3>
&ldquo;Despite the more frequent rebalance than MTUM, FV&rsquo;s 4.7 percent loss year-to-date through November 24 was much wider than fractional gain for the iShares offering,&rdquo; said Rosenbluth. &ldquo;This highlights that not all smart-beta ETFs in a style will perform in sync with one another.&rdquo;
FV has also been stymied by retrenchment in biotech stocks because its other two holdings are a biotech fund and healthcare ETF with some biotech exposure.
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Momentum ETFs — Is There Still Life In The Fast Lane?

Ex-U.S. Internet stocks, both developed and emerging markets fare, have long been accessible to investors via exchange traded funds. A new fund enhances that accessibility.
The First Trust Dow Jones International Internet ETF (NASDAQ: FDNI) debuted Tuesday.
<h3>What Happened</h3>
If the First Trust Dow Jones International Internet ETF sounds somewhat familiar, that&#39;s because it is. The latest ETF from First Trust is the international answer to the First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>). Home to $7.95 billion in assets under management, FDN isn&#39;t just the biggest Internet ETF, but one of the largest industry ETFs.
The new FDNI targets the Dow Jones International Internet Index. That index &ldquo;is designed to measure the performance of the 40 largest and most actively traded international stocks in the internet industry,&rdquo; <a href="https://us.spindices.com/indices/equity/dow-jones-international-internet-index-usd">according to S&amp;P Dow Jones Indices</a>. &ldquo;To be eligible for the index, a company must derive at least 50% of its cash flow from the internet, as well as be classified in one of the 17 GICS industry groups that have internet-related companies.&rdquo;
<h3>Why It&#39;s Important</h3>
FDNI comes to market at time of exponential growth of Internet and e-commerce use outside the U.S., particularly in emerging markets. China has more Internet users than the U.S. has citizens and data suggest many emerging markets shoppers spend discretionary income online or via mobile venues because those economies lack the traditional brick-and-mortar retail infrastructure found in the U.S. and other developed markets.
The new FDNI is home to 40 stocks hailing from several markets, but China is the dominant geographic exposure in the new fund. Alibaba Group Holding Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>), Tencent Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) and Baidu.com (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bidu#NASDAQ">BIDU</a>) combine for approximately 30 percent of the new ETF&#39;s weight.
&ldquo;The Internet is reaching further than ever before to connect our world, businesses and personal lives through what is known as the Internet of Things (IoT), or the billions of connected physical devices (cell phones, routers, wearables, home appliances, vehicles, to name just a few),&rdquo; <a href="https://www.ftportfolios.com/LoadContent/ge3uccbigaho">said First Trust</a>. &ldquo;We are now living in a universe of intelligent products, services and ways of conducting business that are increasing efficiency, while also uncovering a new era of economic growth.&rdquo;
<h3>What&#39;s Next</h3>
FDNI charges 0.65 percent per year, or $65 on a $10,000 investment, putting it in the middle among Internet ETFs in terms of annual fees.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/11/12619129/best-sector-etfs-for-november-loving-the-unloved">Best Sector Bets For November</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/11/12627244/portfolio-diversity-made-easier-with-this-etf">A Better Idea For Diversification</a>

BIDU

TCEHY

Dialing Up An International Internet ETF

It&#39;s difficult for investors to pick one technology to target long-term, according to &quot;Shark Tank&quot; judge and O&#39;Shares ETFs Founder&nbsp;<a href="http://www.benzinga.com/topic/kevin-oleary">Kevin O&#39;Leary</a>. A&nbsp;solution for gaining exposure to many tech companies with one investment exists in the form of <a href="http://www.benzinga.com/etfs">exchange traded funds</a>.
<h3>What Happened</h3>
Investors looking for exposure to the broader technology index are often faced with an unfavorable situation in which an ETF holds lesser-valued hardware names and overall slower growth companies, O&#39;Leary said during&nbsp;a guest spot on <a href="https://www.cnbc.com/video/2018/07/31/buy-these-3-tech-etfs-on-the-dip-says-kevin-oleary.html">CNBC&#39;s &quot;Fast Money&quot;</a> Tuesday. To counter this unfavorable setup, O&#39;Leary&#39;s firm launched the&nbsp;O&#39;Shares Global Internet Giants ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogig#NYSE">OGIG</a>) which consists of only the largest global tech companies that derive most of their revenue from the internet and/or e-commerce, he said.&nbsp;
The other two ETFs O&#39;Leary named are the First Trust DJ Internet Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>) and iShares US Technology (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iyw#NYSE">IYW</a>).
<h3>Why It&#39;s Important</h3>
All three ETFs stand out and offer investors &quot;something different,&quot; he said.&nbsp;O&#39;Leary&#39;s controlled ETF offers international exposure and includes global giants with large revenue growth profiles that aren&#39;t listed in American exchanges, like China&#39;s Tencent, he said.&nbsp;
The First Trust ETF is a &quot;real domestic pure play&quot; that doesn&#39;t include Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>). Only companies that generate at least 50 percent of their annual sales from the internet are included. This ETF is designed for investors who don&#39;t want exposure to the biggest of the big names in tech, O&#39;Leary said.&nbsp;
The iShares Technology ETF offers exposure to a subset of technology stocks that include electronics, computer software and hardware, and information&nbsp;technology companies. The ETF is designed for investors who no longer want to buy the &quot;big ugly indices anymore,&quot; O&#39;Leary said.&nbsp;
Related Links:
<a href="https://www.benzinga.com/markets/18/06/11835317/olearys-oshares-introduces-an-internet-giants-etf">O&#39;Leary&#39;s O&#39;Shares Introduces An &#39;Internet Giants&#39; ETF</a>
<a href="https://www.benzinga.com/markets/18/05/11784169/kevin-olearys-oshares-is-planning-five-new-etfs-including-ai-a">Kevin O&#39;Leary&#39;s O&#39;Shares Is Planning Five New ETFs, Including AI And Robotics Growth Funds</a>
Photo by Dustin Blitchok.

Media

3 Tech ETFs To Buy, According To Kevin O'Leary

A jobs report that was just about as good as it gets easily overshadowed uncertainty from trade wars and geopolitics on Friday. News that President Trump will meet with the North Korea leader offered a bit of relief for the markets early Friday, but it was really the employment report that drove stocks higher washing out recent shorts ahead of the weekend.&nbsp;
Shorts were expecting another stronger than expected wage growth number in the employment data. But wages grew less than expected, causing short covering that lifted all sectors to end the week. This was a perfect mini-storm, as the wage numbers helped keep treasuries from sliding as well. If you remember, it was the strong wage growth that hit stocks and bonds last month.&nbsp;
The PowerShares QQQ Trust (NYSE:&nbsp;QQQ) put in a new all-time high and was higher for a sixth straight day. The first six days of 2018 was the only other six-day advance this year. The Q&rsquo;s have rallied 15 percent in a month.
<img alt="QQQ" src="/files/u121649/qqq.png" style="width: 658px; height: 328px;" />
China accused U.S. President Donald Trump on Friday of damaging the global trading system and &ldquo;firmly opposes&rdquo; Trump&rsquo;s tariff move. <a href="http://www.usnews.com/news/business/articles/2018-03-08/china-accuses-trump-of-damaging-global-trade-with-tariffs">Japan&rsquo;s foreign minister </a><a href="http://www.usnews.com/news/business/articles/2018-03-08/china-accuses-trump-of-damaging-global-trade-with-tariffs">said</a> &ldquo;These measures could make a significant impact on economic and cooperative relationship between Japan and the U.S.&quot; Later, &nbsp;U.S. Treasury Secretary Mnuchin mentioned some other countries could be considered for tariff exemptions over the next two weeks as the rhetoric seems to have softened a bit.
Investor concerns about a trade war have kept Boeing on the defensive, because Boeing Co (NYSE: <a class="ticker" href="/stock/ba#NYSE">BA</a>) delivers around 70 percent of its aircraft to non-US customers; China was 25 percent of their orders last year. <a href="http://news.morningstar.com/articlenet/article.aspx?id=853906">According to Morningstar</a>, aluminum is less than 10 percent of costs. Technically, the 50-day moving average has been a big key support in BA. Boeing had only one day in 2017 where it fell below its 50dma, and last week this level held again. Momentum was about as depressed as it gets in this stock, which should add to the possibility for upside momentum from here and new highs.
<img alt="$BA " src="/files/u121649/ba.png" style="width: 659px; height: 307px;" />
Trump will reportedly mspaneet with North Korean leader Kim Jong Un in a few weeks, which will make for great television, but could be a disaster. The President will have to appear diplomatic and leave out the condensation and name calling. Trump will want North Korea to commit to denuclearization, while North Korea wants to be treated as an equal. It&#39;s worth noting that the last two times North Korea has made commitments to de-nuke it reneged.&nbsp;
Emerging Markets have been a fund favorite, but you would have done better being long QQQ this year. This chart shows the&nbsp;iShares MSCI Emerging Markets &gt;Index (NYSE:&nbsp;EEM) relative to QQQ. The 2016 lows area all-time lows in this pair.&nbsp;
<img alt="EEM versus QQQ" src="/files/u121649/eem.qqq_.jpg" style="width: 657px; height: 279px;" />
Americans&rsquo; equity holdings climbed in Q4 2017 by <a href="http://mj380.infusionsoft.com/app/linkClick/22654/7d7b0dc333bdd356/1297284/7740ff263d30587d">the most in four years</a>, bringing stock holdings to $17.9 trillion, or 22.2 percent of all financial assets. This is the highest share percentage since 2000 amid the technology bubble.
Is Rotation Back? There has been some rotation since the February lows, which is a positive for the market. Small caps have been outperforming, which has been good for the overall market tone. Flows into small caps is saying that money is not moving into safety trades. Talk of a trade war seems to be benefitting the small caps.
<img alt="IWM vs SPY" src="/files/u121649/iwm.spy__0.png" style="width: 656px; height: 290px;" />
The VIX is back at levels seen just prior to the vol-crisis spike. You knew this was going to happen, but it would be hard to believe that VIX will go back to extreme lows and stay there for long after the carnage we saw just a month ago.
<img alt="VIX" src="/files/u121649/vix.png" style="width: 661px; height: 315px;" />
Fixed Income underperformed last week as risk on emerged. How quickly long rates rise is the key to potential reversals in equity indices. A relatively gradual trajectory in 10 and 30-year yields would likely be for stocks. The&nbsp;iShares Barclays 20+ Yr Treas.Bond (NASDAQ:&nbsp;TLT)&nbsp; vs SPY is back at the year lows.
<img alt="TLT versus SPY" src="/files/u121649/tlt.spy_.png" style="width: 658px; height: 294px;" />
Yield curves will likely become a dominant theme going forward. The 2/10 yield curve had been steepening during the equity weakness, but after hitting the 200-day moving average the curve flattened again.&nbsp; Short term support in the 2/10 at .556 percent and long-term key support at .473 percent.
<img alt="Yield Curve" src="/files/u121649/2.10.png" style="width: 659px; height: 308px;" />
The Fed&rsquo;s Evans said on CNBC Friday that &nbsp;wage growth was a little on the weak side, and he sees merit to the argument for waiting on rate hikes &quot;just a littlebitg longer, considering low inflation.&quot; This seemed to help stem the decline in bonds as the 30-year future was nearing a short term key support. USM8 has two key short-term levels of support to be aware of; 142-21 and 142-03*. &nbsp;These next two charts show you just how important the 3.25 percent level in 30-year yield is from a technical standpoint. A 618 retracement is considered a pivotal level using Fibonacci analysis and the 100 month moving average has been key resistance for years.
&nbsp;&nbsp;<img alt="" src="/files/u121649/30yield_1.jpg" style="font-size: 14px; width: 579px; height: 484px;" />&nbsp;&nbsp;
The technology, regional banks, internet, and broker-dealer sector ETFs all put in new all-time highs last week. Most sectors within the S&amp;P still have some work to do to get back to year highs, but some rotation into these sectors is a positive for the overall market tone. We don&rsquo;t want to have high correlations across multiple sectors because when there is a pullback there is nowhere to hide. The following charts in the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>),&nbsp;SPDR KBW Regional Banking&nbsp;(NYSE: <a class="ticker" href="/stock/kre#NYSE">KRE</a>),&nbsp;First Trust DJ Internet Index Fund (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>), and&nbsp;iShares Dow Jones US Brok-Dea. Ind.&nbsp;(NYSE: <a class="ticker" href="/stock/iai#NYSE">IAI</a>) illustrate this.
<img alt="" src="/files/u121649/foursquare_0.jpg" style="width: 660px; height: 612px;" />
WTI had been outpacing the S&amp;P 500 since June of last year, but has been underperforming since the vol-crisis low.&nbsp; The&nbsp;Energy Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xle#NYSE">XLE</a>) relative to the SPY saw an unwind of the crowded energy sector trade starting in mid-January and the divergence with crude oil has gotten extreme. As long as crude oil futures can hold above $58 we will look for money flows into the energy sector and mean reversion in this trade.
<img alt="" src="/files/u121649/wti.es_.xle_.png" style="width: 674px; height: 306px;" />
A softening or less controversial tone geopolitically will help drive stocks higher. We will remain on guard for potential breaking points in long bonds (and pivotal resistance levels in yields). 3.25 percent is coming in 30-year yield, but the trajectory above this level will be important. Rotation between sectors has been and will remain a positive for overall market strength. Stock and sector picking is key.&nbsp; Multiple days where everything is up will signal danger may be coming.
David Wienke is the editor of&nbsp;<a href="http://www.keystonecharts.net/">Keystone Charts</a>. More than 30 years of experience providing technical analysis and execution services to institutional clients is now provided in a daily newsletter, The Daily Game Plan. Coverage includes equities, rates, currencies, and commodities. Dave is also an introducing broker with Capital Trading Group, LLLP (CTG); a Chicago based investment firm specializing in execution and account management for CTAs and individual investors. Charts are created using CQG, a top of the line trading and charting service. For a free trial of the Daily Game&nbsp;Plan&nbsp;newsletter email me at&nbsp;<a href="mailto:dave@keystonecharts.net">dave@keystonecharts.net</a>&nbsp;or go to Capital Trading Group to&nbsp;<a href="http://media.capitaltradinggroup.com/acton/media/26292/your-daily-game-plan-for-the-markets">subscribe</a>.&nbsp; 
For more information go to <a href="http://www.keystonecharts.net/">www.keystonecharts.net</a>

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Global

iShares Dow Jones US Broker Dealers Index Fund

How The Market Is Digesting The Current Geopolitical Headwinds And Friday's Jobs Report

The foundations of industry &mdash; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/07/9801838/these-non-tech-companies-are-investing-in-an-ai-future">every industry</a> &mdash; are cracking under the weight of invasive robots. From retail to health care to security to agriculture, autonomous technology and artificial intelligence are changing the game.
&ldquo;We think that this is really kind of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/09/10097740/8-ways-to-play-the-ai-boom">next trade</a>, if you will, and these are the new FAANG stocks,&rdquo; Bill Studebaker, president and CIO of Robo Global, said on Benzinga&rsquo;s PreMarket Prep radio show.
In fact, the popular and prolific FAANG components &mdash; Facebook Inc (NASDAQ: <a class="ticker" href="/stock/fb#NASDAQ">FB</a>), Apple Inc. (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ: <a class="ticker" href="/stock/amzn#NASDAQ">AMZN</a>), Netflix, Inc. (NASDAQ: <a class="ticker" href="/stock/nflx#NASDAQ">NFLX</a>) and Alphabet Inc (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="/stock/googl#NASDAQ">GOOGL</a>) &mdash; are themselves being transformed and empowered by these very technologies.
&ldquo;In my mind, there is no more obvious investable megatrend than this that I&rsquo;ve ever seen,&rdquo; Studebaker said.
<h3>The Way To Play</h3>
Not five years ago, Studebaker was on the hunt for a way to trade this ubiquitous yet nascent theme, but no mutual or hedge funds were dedicated exclusively to it.
So he founded Robo Global and the firm&rsquo;s Robotics &amp; Automation Index ETF, Exchange Traded Concepts Trust (NASDAQ: <a class="ticker" href="/stock/robo#NASDAQ">ROBO</a>).
Robo Global&rsquo;s portfolio includes 84 international robotics and automation firms specializing in either development or deployment. With exposure to upstream companies, downstream companies and services, investors avoid placing premature bets in a field with ever-changing frontrunners.
<h3>Who Made The Cut?</h3>
As yet, components are 40 percent domestic and 60 percent international, 25 percent large cap and 75 percent mid to small cap.
Studebaker&rsquo;s top constituents include Cognex Corporation (NASDAQ: <a class="ticker" href="/stock/cgnx#NASDAQ">CGNX</a>), Raven Industries, Inc. (NASDAQ: <a class="ticker" href="/stock/ravn#NASDAQ">RAVN</a>), Zebra Technologies Corp. (NASDAQ: <a class="ticker" href="/stock/zbra#NASDAQ">ZBRA</a>), Daifuku off the Tokyo exchange, IPG Photonics Corporation (NASDAQ: <a class="ticker" href="/stock/ipgp#NASDAQ">IPGP</a>), iRobot Corporation (NASDAQ: <a class="ticker" href="/stock/irbt#NASDAQ">IRBT</a>) and Intuitive Surgical, Inc. (NASDAQ: <a class="ticker" href="/stock/isrg#NASDAQ">ISRG</a>).
Among the hot segment of chipmakers, he likes NVIDIA Corporation (NASDAQ: <a class="ticker" href="/stock/nvda#NASDAQ">NVDA</a>) and QUALCOMM, Inc. (NASDAQ: <a class="ticker" href="/stock/qcom#NASDAQ">QCOM</a>), as well as Ambarella Inc (NASDAQ: <a class="ticker" href="/stock/amba#NASDAQ">AMBA</a>), which he considers an overlooked play on autonomous vehicles and vision technologies.
Stocks like these have driven the ETF up nearly 40 percent year to date, which compares favorably to the First Trust DJ Internet Index Fund (ETF) (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>)&rsquo;s 30.9-percent run.
<h3>What&rsquo;s The Criteria?</h3>
Robo Global tracks about 300 public companies worldwide and incorporates them into the index based on subsector, robotics-based revenue and ESG social responsibility.
&ldquo;We&rsquo;re looking for companies that clearly are leaders in their industry and that we think have defined moats around their businesses,&rdquo; Studebaker said.
The ETF contains 40 percent bellwether stocks and 60 percent non-bellwether stocks, with respective weightings of 2 and 1 percent. Bellwether stocks have, on average, between 60 and 70 percent of revenue attributable to robotics, automation or AI activities, while non-bellwethers average 25 percent.
Studebaker eschews newer stocks like Veritone Inc (NASDAQ: <a class="ticker" href="/stock/veri#NASDAQ">VERI</a>) to lend them &ldquo;seasoning time.&rdquo;
&ldquo;What we&rsquo;re trying to avoid is putting any science fair experiments into our portfolio,&rdquo; he said, noting elimination of companies built on prototypes. &ldquo;We really want to put companies in that have proven revenue. We&rsquo;re not, for example, putting in a medical technology company that we think might get FDA approval, so the beauty behind what we&rsquo;ve done, our portfolio, given that it&rsquo;s &lsquo;technology,&rsquo; has pretty low volatility.&rdquo;
For more information on Robo Global, visit the <a href="http://www.roboglobal.com/">website </a>or watch out for Studebaker&rsquo;s next appearance on Benzinga&rsquo;s PreMarket Prep.
<iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/346728396&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true" width="100%"></iframe>
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<a href="https://www.benzinga.com/general/education/17/08/9811410/what-is-machine-learning-deep-learning-heres-your-ai-glossary">What Is Machine Learning? Deep Learning? Here&#39;s Your AI Glossary</a>
<a href="https://www.benzinga.com/general/psychology/17/07/9785075/why-elon-musk-sees-artificial-intelligence-to-be-the-biggest-risk-t">Why Elon Musk Sees Artificial Intelligence To Be The Biggest Risk To Society</a>

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ZBRA

Robotics, AI Fund Thinks It's Found The 'New FAANG'

Since coming to market just over three years ago, the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: <a class="ticker" href="/stock/fv#NASDAQ">FV</a>) has proven popular with advisors and investors that follow Dorsey Wright&#39;s relative strength-based strategies.
That sentiment is confirmed by FV&#39;s more than $2.4 billion in assets under management. FV follows the Dorsey Wright Focus Five Index, which &ldquo;is designed to provide targeted exposure to five First Trust sector and industry based ETFs that Dorsey, Wright &amp; Associates (DWA) believes offer the greatest potential to outperform the other ETFs in the selection universe and that satisfy trading volume and liquidity requirements,&rdquo; according to <a href="http://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=FV">First Trust</a>.
FV has a counterpart that is proving popular as well. The First Trust Dorsey Wright Dynamic Focus 5 ETF (NASDAQ: <a class="ticker" href="/stock/fvc#NASDAQ">FVC</a>) adds a cash component to the ETF of ETFs strategy found in FV.
<h3>More About FVC</h3>
Like FV, the First Trust Dorsey Wright Dynamic Focus 5 ETF holds five First Trust sector and industry that are displaying positive relative strength ETFs. FVC&#39;s linuep is as follows: The First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>), First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ: <a class="ticker" href="/stock/qtec#NASDAQ">QTEC</a>), First Trust Industrials/Producer Durables AlphaDEX Fund (NYSE: <a class="ticker" href="/stock/fxr#NYSE">FXR</a>), First Trust Nasdaq Bank ETF (NASDAQ: <a class="ticker" href="/stock/ftxo#NASDAQ">FTXO</a>) and the First Trust Utilities AlphaDEX Fund (NYSE: <a class="ticker" href="/stock/fxu#NYSE">FXU</a>).
&ldquo;While we are pitted firmly in corporate earnings season now as we have repeatedly documented in this daily piece, a fund such as FVC may be potentially very useful in monitoring how various sectors are reacting to earnings hits and misses around the markets and how these industries are trading relative to one another since they are constantly in motion,&rdquo; said <a href="http://streetonefinancial.com/">Street One Financial</a> Vice President Paul Weisbruch in a recent note.
FVC&#39;s index &ldquo;is designed to provide targeted exposure to five First Trust sector and industry based ETFs and the Nasdaq US T-Bill Index,&rdquo; <a href="http://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=FVC">according to First Trust</a>.
<h3>Slight Differences ... So Far</h3>
Year to date, FV is up 9.4 percent while FVC is higher by 9.1 percent, indicating that the latter&#39;s cash component is not restraining its ability to compete with the former&#39;s returns this year.
FVC debuted in March 2016 and has established a solid following as highlighted by $331.1 million in assets under management. Regarding FV and FVC, investors should stay up-to-date regarding possible changes in the ETFs&#39; rosters.
&ldquo;Of course, being a rules-based strategy it is helpful to look at these holdings a couple times per month to see if there have been any relative strength changes in the marketplace that warrant a reshuffling of the portfolio and perhaps this will lend clues to which names/sectors will be shorter and longer term leaders and laggards,&rdquo; added Weisbruch.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/08/9851427/revisiting-some-high-dividend-etfs">Revisiting High Dividend ETFs</a>
<a href="https://www.benzinga.com/general/biotech/17/07/9845505/spicing-up-the-health-care-trade">Some Spice With A Healthcare ETF</a>

FTXO

First Trust Industrials/Producer Durables AlphaDEX Fund

First Trust NASDAQ-100 Technology Index Fund

QTEC

A Different Spin On A Popular ETF

Reminding investors that nothing, at least not in financial markets, moves up in a straight line, the fabled FAANG quintet has recently encountered selling pressure.
FAANG membership consists of Facebook Inc. (NASDAQ: <a class="ticker" href="/stock/fb#NASDAQ">FB</a>), Amazon.com, Inc. (NASDAQ: <a class="ticker" href="/stock/amzn#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>), Netflix Inc. (NASDAQ: <a class="ticker" href="/stock/nflx#NASDAQ">NFLX</a>) and Google parent Alphabet Inc. (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="/stock/googl#NASDAQ">GOOGL</a>).
<h3>Fierce FAANG</h3>
As of June 9, Apple, Amazon, Facebook and both classes of Alphabet shares represented five of the top 10 holdings in the S&amp;P 500. With the S&amp;P 500 being a cap-weighted index, the dominance of FAANG in the benchmark U.S. equity gauge reminds investors that a slew of exchange traded funds will be affected by any further retrenchment faced by the FAANG stocks.
FAANG &ldquo;had a bad day on Friday after research notes from Goldman Sachs, Deutsche Asset Management and others warned that these stocks were too expensive. Owning these five stocks, which together accounted for more than 40 percent of the S&amp;P 500&rsquo;s gains this year before Friday&rsquo;s sell-off according to an <a href="http://www.barrons.com/articles/the-day-tech-stocks-tanked-1497070762" target="_blank">article</a> in this weekend&rsquo;s edition of Barron&rsquo;s, are an extremely crowded trade,&rdquo; said <a href="http://altavista-research.com/">AltaVista Research</a> in a note out Monday.
Weighting by market capitalization is the most frequently used weighting methodology by ETFs and index funds. Advocates of cap-weighted indexes say the strategy gives investors exposure to the &ldquo;whole market&rdquo; while detractors say weighting by market value exposes investors to richly valued stocks. Additionally, <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/05/9524925/pleasant-surprises-with-this-tech-etf">detractors of cap weighting</a> say the strategy leaves investors vulnerable when asset bubbles burst.
<h3>Everyone Has Bad Days</h3>
For now, it is not reasonable to say a couple of bad days for FAANG stocks means another tech bubble is coming, but it must be remembered that &ldquo;as these stocks&rsquo; market caps grew, so too did their weight in most of the ETFs that hold them,&rdquo; said AltaVista.
Alone, Apple accounts for over 17 percent of the iShares U.S. Technology ETF&#39;s (NYSE: <a class="ticker" href="/stock/iyw#NYSE">IYW</a>) weight. IYW&#39;s total FAANG exposure is about 38 percent, highlighting why the ETF fell more than 3 percent last Friday. Amazon and Netflix are classified as consumer discretionary stocks, so they are not part of technology ETFs such as IYW.
Those stocks do, however, reside in broader market ETFs, such as the PowerShares QQQ (NASDAQ: <a class="ticker" href="/stock/qqq#NASDAQ">QQQ</a>). QQQ&#39;s FAANG exposure is about 34.5 percent, according to AltaVista data.
Although Apple is not a member of well-known internet ETFs, the FAANG allocations in those funds are still high. For example, the First Trust Dow Jones Internet ETF (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>), the largest U.S. internet ETF, has FAANG exposure of 32.7 percent.
Related Links:
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Short Ideas

FAANG Weakness Problematic For Plenty Of ETFs

﻿The global markets approval of the French election results was clear at 6:30 PM on Sunday as the S&amp;P 500 E-Mini futures gapped 20 points higher when they opened. By early Monday the Euro zone markets were sharply higher with several markets up 3-4% as only the Shanghai Composite was down significantly on Monday.
The sharp gains Monday caught many on Wall Street flat footed as the decline from the March high had lasted long enough to discourage many bulls. From a technical perspective the role of a correction is to reduce extremes in sentiment and to cause some to question their market outlook. Some in the media viewed Monday&#39;s rally as a possible Trump Trap.
In last week&#39;s survey, according to the American Association of Individual Investor, the bullish % dropped to 25.7%, as it had declined for eight weeks in a row. As I commented in <a href="https://twitter.com/TomAspray/status/855043226004226048">last Thursday&#39;s Tweet</a> the &quot;levels are typical of correction lows&quot;.
Of course sentiment levels must be combined with technical methods in order to identify meaningful tops or bottoms.&nbsp; In my weekend article <a href="https://www.forbes.com/sites/tomaspray/2017/04/22/the-week-ahead-bullish-evidence-building/">The Week Ahead: Bullish Evidence Building</a> I reviewed some of the technical evidence that indicated the stock market was close to a bottom.
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My analysis of the NYSE stocks making new highs and new lows provided additional bullish evidence. Some may remember how this analysis at the February 2016 low (<a href="https://www.viperreport.com/trading-etfs-stocks-market-timing/">see chart</a>) indicated that the stock market was bottoming.
The number of stocks making new lows has declined (line d) as the NYSE Composite has been making lower lows. This was a sign of strength and last Thursday the number of new highs reached its highest level since March 17th, line e. The NYSE Composite last week had approached the longer-term support at line c. The completion of the flag formation (lines a and b) has initial targets in the 11,780-850 area.
What does the analysis of the other market averages say about Monday&#39;s rally?
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<div class="appbar-snippet-secondary">
	The PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ: <a class="ticker" href="/stock/qqq#NASDAQ">QQQ</a>) has been leading the other market averages higher all year as it is up 13.47% YTD versus 6.56% for the SPDR S&amp;P 500 ETF Trust (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>). This leadership was initially signaled on December 27th by the new high in the Nasdaq 100 A/D line. By early January the <a href="https://www.viperreport.com/the-secret-to-trading-etfs-for-profit/">relative performance analysis</a> confirmed it was a market leader.</div>
The PowerShares QQQ Trust (QQQ) closed Monday at the daily starc+ band and chart resistance at line a. Therefore a near term pullback would not be surprising. The next upside targets are in the $137-$139 area. 
	Both the weekly Nasdaq 100 A/D line made a new high last week as the daily A/D line broke through resistance, line c, last Wednesday and is acting very strong. This is bullish for the intermediate term. It would take a drop below the support from the March-April lows to weaken the positive outlook.
The Spyder Trust (SPY) has been significantly weaker since it peaked at $239.28 on March 1st. It closed above the downtrend, line e, on Monday as it formed a doji, closing where is opened.&nbsp; On a move above the resistance at $238.16-$239.28 there is quarterly pivot resistance at $242.74. There is good support now in the $233.31-$235 area.
The strong market internals last week pushed the weekly S&amp;P 500 <a href="https://www.viperreport.com/ad-line-market-timing-stock-picking-trading/">advance/decline line</a> back above it WMA which was a positive sign. The daily S&amp;P 500 A/D line turned up sharply Monday&nbsp; as it has exceeded the downtrend, line g, and the late March highs. Further strength is needed over the next week to confirm the new uptrend.
In addition to a full economic calendar this week culminating with the preliminary 1st quarter GDP reading on Friday there may be more drama from the White House. The market&#39;s reaction to the promised new tax plan and the potential threat of a government shutdown may cause a spike in market volatility.
Therefore a sharp pullback would not be surprising and will likely be used to support the view that Monday&#39;s rally was a Trump Trap.&nbsp; If instead the market continues to move even higher there should be a good new entry point in the next week.
The relative performance last week signaled that the small cap ETFs like the iShares Russell 2000 Index (ETF) (NYSE: <a class="ticker" href="/stock/iwm#NYSE">IWM</a>) and Vanguard Small-Cap Growth ETF (NYSE: <a class="ticker" href="/stock/vbk#NYSE">VBK</a>) were starting to lead the market. Only a weekly close below last week&#39;s low will suggest that the market&#39;s correction is not yet over.
If you are interested in specific recommendations you might consider the&nbsp; <a href="https://guides.viperreport.com/viper-etf/">Viper ETF Report</a>&nbsp; as our subscribers are holding long positions in the QQQ and as well as other sector ETFs including SPDR S&amp;P Biotech (ETF) (NYSE: <a class="ticker" href="/stock/xbi#NYSE">XBI</a>), Consumer Discretionary SPDR (ETF) (NYSE: <a class="ticker" href="/stock/xly#NYSE">XLY</a>), Technology Select Sector SPDR Fund (NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>), First Trust DJ Internet Index Fund (ETF) (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>) and Vanguard Small-Cap Growth ETF (NYSE: <a class="ticker" href="/stock/vbk#NYSE">VBK</a>).&nbsp;&nbsp;
For stock traders the&nbsp; <a href="https://goo.gl/Tuvl4u">Viper Hot Stocks Report</a> recommends both long and short positions in high momentum stocks.&nbsp; Each service includes two reports each week and is just $34.95 each per month. Subscriptions can be cancelled on line at any time.

﻿Should You Worry About A Trump Trap?

Internet companies, which have seen a decent run-up thus far this year, are staring at another catalyst that could make or break the rally. That catalyst? Earnings.
The First Trust DJ Internet Index Fund (ETF) (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>) has gained 12.16 percent thus far this year on top of the 10.37 percent advance in 2016.
Loop Capital Markets' Blake Harper previewed the earnings of five Internet companies in his coverage universe that are scheduled to report earnings this week, namely Amazon.com, Inc. (NASDAQ: <a class="ticker" href="/stock/amzn#NASDAQ">AMZN</a>), Alphabet Inc (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="/stock/googl#NASDAQ">GOOGL</a>), Twitter Inc (NYSE: <a class="ticker" href="/stock/twtr#NYSE">TWTR</a>), Lendingtree Inc (NASDAQ: <a class="ticker" href="/stock/tree#NASDAQ">TREE</a>) and GrubHub Inc (NYSE: <a class="ticker" href="/stock/grub#NYSE">GRUB</a>).
<h3>Twitter: Challenged</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/04/9312030/4-major-keys-for-netflix-going-forward"> Twitter,</a> which is due to report Wednesday before the markets open, is expected to report in line to below-consensus results for its fourth quarter. Loop Capital Markets thinks the company would continue to be challenged, with its critical issue of reviving user growth, especially in the United States.
The firm expects MAUs to be flat in the United States at 67 million and increase 2 million internationally to 252 million, given the lack of meaningful product changes. 
The firm termed Twitter's loss of the Thursday night NFL games live streaming contract as inevitable, given that the NFL was wanting to experiment with different digital distribution channels and that Twitter was not willing to pay a premium, as its fourth quarter U.S. DAUs were flat.
<h3>New Verticals, Mortgage Purchases Key To LendingTree's 2017 Growth</h3>
Loop Capital Markets expects the company to report results in line with its estimates, which are slightly below the consensus estimate. LendingTree is expected to report its results before the market opens on Thursday.
The firm estimates mortgage revenue growth of 5 percent for both purchases and refinances, and non-mortgage revenue growth of 18 percent on an organic basis. Additionally, the firm expects the company's initial forays into new markets such as insurance, as well as the increasing digital marketing spend on credit card customer acquisitions to support longer term growth forecasts.
<h3>Grubhub Thriving Despite Competition</h3>
Harper expects <a href="http://www.barrons.com/articles/how-grubhub-plans-to-grab-more-of-the-pie-1492013186"> Grubhub's </a> first-quarter results to be in line with its above-consensus estimates. The company is scheduled to release its results before the markets open on Thursday. 
"We are 4 percent above the Q1 consensus adjusted EBITDA estimate and believe the company's delivery business in tier-2 and tier-3 markets should help offset competitive pressures in tier-1 markets," the analyst said.
"Our latest consumer survey results indicate Grubhub has slipped to second place in brand recognition and consumer usage to be slightly behind Amazon Prime Now."
Quoting comScore, the analyst said Grubhub increased its unique visitors to 6.9 million, up 25 percent year-over-year, and boasted the largest audience in the online food delivery category, with over 26 restaurant chains. This, according to the analyst, will contribute to upside to the consensus of 25 percent gross food sales growth in 2017.
<h3>Google Should See No Hit From YouTube Challenges</h3>
The firm expects Google, which is due to report after the market close on Thursday, to post in-line results. While conceding that the YouTube advertiser boycott has elevated near-term risk, the firm said it does not expect any <a href="https://www.benzinga.com/tech/17/04/9228381/50-advertisers-boycott-youtube-advertising-and-it-wont-mean-more-than-a-1-dip-in-"> longer-term impact. </a> 
"We forecast the company's own website revenues to grow 17.5 percent YoY in Q1, with Network Member's sites growing 3 percent, and its Other segment growing 38 percent. We estimate the Other Bets operating losses will narrow in Q1 to approximately $500 million," the firm added.
<h3>Amazon Juggernaut Will Roll On</h3>
Amazon is also due to report its first-quarter results after the market close on Thursday. Harper expects the company to report results, in line with its expectations, with 25 percent growth in North American retail and 3 percent growth in North American media. Internationally, the growth is expected at 23 and 5 percent, respectively.
The analyst expects AWS to show revenue growth of 45 percent, with its revenue share exceeding 10 percent for the first time.
"We forecast AWS margins to increase to 28 percent, up from 23.5 percent a year ago, and to represent over 80 percent of total operating income in Q1," the analyst said.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/04/9305582/amazon-is-gaining-in-the-online-food-delivery-space"> Amazon Is Gaining In The Online Food Delivery Space </a> 
<a href="https://www.benzinga.com/news/17/04/9305289/your-guide-to-this-years-aws-summit-schedule"> Your Guide To This Year's AWS Summit Schedule </a>

Earnings

Guidance

Previews

GRUB

TREE

TWTR

Sell-Side Expectations For Amazon, Twitter And Other Internet Earnings This Week

Loop Capital said a <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/11/8671800/3-stocks-to-own-under-president-trump">Trump presidency</a> could exert near-term pressure on large-cap internet firms with heavy international exposure, while U.S. centric Internet businesses should be more immune. Stocks that could be effected include:
<ul>
<li>Alphabet Inc (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="/stock/googl#NASDAQ">GOOGL</a>).</li>
<li>Amazon.com, Inc. (NASDAQ: <a class="ticker" href="/stock/amzn#NASDAQ">AMZN</a>).</li>
<li>Facebook Inc (NASDAQ: <a class="ticker" href="/stock/fb#NASDAQ">FB</a>).</li>
</ul>
<h3>How Trump Would Hurt</h3>
In Loop Capital's view, a Trump presidency could hurt internet majors in the following ways:
<ul>
<ol>
<li>Trump&rsquo;s policies could be &ldquo;more isolationist, restrictive of trade and antitrust.&rdquo;</li>
<li>Trump seeks to block select large mergers and has sighted Amazon as a potential antitrust target. Google and Facebook could face scrutiny for their duopolistic control of the digital ad market.</li>
<li>Trump seeks to &quot;pause&quot; the H-1B program, which could result in scarcity of foreign skilled talent. Hiring of American workers out of necessity would pressure wages and margins.</li>
<li>Companies may be able to more favorably repatriate the estimated $400 billion overseas cash, but could be pressured to invest in domestic job growth.</li>
<li>Amid heightened regulatory and antitrust scrutiny, there is more risk for large deals that in turn offsets some of the potential impact on M&amp;A from repatriation.</li>
</ol></ul>
<h3>Analyst Explains</h3>
Under a <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/11/8685886/trip-chowdhrys-top-4-stock-picks">Trump regime</a>, analyst Blake Harper sees the largest risk to companies&#39; international expansion, and companies with more international revenues and diverse operations, given potential restrictive trade and antitrust policies.
<h3>Over Half Of Revenue From Overseas</h3>
Apart from <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/10/8617888/google-top-pick-among-internet-stocks-continues-to-excee">Alphabet</a> and Facebook, the following firms also rely on overseas markets for more than 50 percent of their revenues:
<ul>
<li> eBay Inc (NASDAQ: <a class="ticker" href="/stock/ebay#NASDAQ">EBAY</a>).</li>
<li>Electronic Arts Inc. (NASDAQ: <a class="ticker" href="/stock/ea#NASDAQ">EA</a>).</li>
<li>Groupon Inc (NASDAQ: <a class="ticker" href="/stock/grpn#NASDAQ">GRPN</a>).</li>
<li>Priceline Group Inc (NASDAQ: <a class="ticker" href="/stock/pcln#NASDAQ">PCLN</a>).</li>
<li>Shutterstock Inc (NYSE: <a class="ticker" href="/stock/sstk#NYSE">SSTK</a>).</li>
</ul>
<h3>A Third To Half International Exposure</h3>
Harper said the following companies generate 33 percent to 50 percent of revenues from their international exposure:
<ul>
<li>Activision Blizzard, Inc. (NASDAQ: <a class="ticker" href="/stock/atvi#NASDAQ">ATVI</a>).</li>
<li>Amazon.</li>
<li>Expedia Inc (NASDAQ: <a class="ticker" href="/stock/expe#NASDAQ">EXPE</a>).</li>
<li>LinkedIn Corp (NYSE: <a class="ticker" href="/stock/lnkd#NYSE">LNKD</a>).</li>
<li>Groupon.</li>
<li>Take-Two Interactive Software, Inc. (NASDAQ: <a class="ticker" href="/stock/ttwo#NASDAQ">TTWO</a>).</li>
<li>Twitter Inc (NYSE: <a class="ticker" href="/stock/twtr#NYSE">TWTR</a>).</li>
<li>Zynga Inc (NASDAQ: <a class="ticker" href="/stock/znga#NASDAQ">ZNGA</a>).</li>
</ul>
&ldquo;Note that large caps, those with more international revenues, and China based companies have underperformed since the election results while smaller caps and those with large percentage of domestic revenues have outperformed,&rdquo; Harper wrote in a note.
<h3>A Few Possible Beneficiaries</h3>
Meanwhile, the analyst continued that marketplaces with more than 90 percent of their revenues from the United States and a narrower market focus should benefit from more positive sentiment. They include:
<ul>
<li>Angie&#39;s List Inc (NASDAQ: <a class="ticker" href="/stock/angi#NASDAQ">ANGI</a>).</li>
<li>Care.com Inc (NYSE: <a class="ticker" href="/stock/crcm#NYSE">CRCM</a>).</li>
<li>GrubHub Inc (NYSE: <a class="ticker" href="/stock/grub#NYSE">GRUB</a>).</li>
<li>Quotient Technology Inc (NYSE: <a class="ticker" href="/stock/quot#NYSE">QUOT</a>).</li>
<li>Bankrate Inc (NYSE: <a class="ticker" href="/stock/rate#NYSE">RATE</a>).</li>
<li>Lendingtree Inc (NASDAQ: <a class="ticker" href="/stock/tree#NASDAQ">TREE</a>).</li>
<li>TrueCar Inc (NASDAQ: <a class="ticker" href="/stock/true#NASDAQ">TRUE</a>).</li>
<li>Yelp Inc (NYSE: <a class="ticker" href="/stock/yelp#NYSE">YELP</a>).</li>
</ul>
The above names, which generates less than 10 percent of revenue from international markets, should see growth from offline transactions, while their user behavior would be unaffected by a Trump presidency.
<h3>A Word Of Caution</h3>
However, Harper believes the near-term headwinds will not change the long-term secular trends of the internet industry, including increasing penetration online, mobile and online marketplaces, and the shift of ad dollars to online and mobile from traditional media.
<h3>ETFs At Last Check</h3>
<ul>
<li>First Trust DJ Internet Index Fund (ETF) (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>): Down 1.26 percent in the last month. Currently trading at $78.53.</li>
<li>PowerShares Exchange-Traded Fund Trust (NASDAQ: <a class="ticker" href="/stock/pnqi#NASDAQ">PNQI</a>): Down 3.96 percent in the last 30 days, and trading at $82.49 at last check.</li>
<li>Technology SPDR (ETF) (NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>): Down 1.77 percent in the last month. Currently trading at $46.53.</li>
</ul>

ANGI

ATVI

CRCM

EBAY

EXPE

GRPN

LNKD

PCLN

PNQI

QUOT

RATE

SSTK

TRUE

TTWO

ZNGA

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