ETFs that track meme stocks have been surging, as 'animal spirits' return to markets

Markets Insider2023-11-22

Traders on Reddit and other internet forums famously pushed up the price of meme stocks to dizzying highs at the start of the pandemic. ...

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Read preview. MEME, BOTZ, and IWO have seen gains of 10.8%, 6.6%, and 5.9%, respectively, while the S&P 500 has gained 3.1% in that stretch.In addition, MEME and BOTZ have outperformed the benchmark index since it hit a low on October 27.The table below shows the top holdings for each of the three ETFs, and the individual holdings' performance over the last five days, one month, and year-to-date.\"The average returns of these 3 ETFs' top 5 holdings best the S&P over the last 5 days, 1 month and YT","collect":0,"end_time":0,"defaultTopTitle":"businessinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"OEX":"标普100",".SPX":"S&P 500 Index","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","SDS":"两倍做空标普500ETF","SH":"标普500反向ETF","BK4559":"巴菲特持仓","BOTZ":"Global X Robotics & Artificial Intelligence Thematic ETF","IWO":"罗素2000成长股指数ETF","SPXU":"三倍做空标普500ETF","BK4550":"红杉资本持仓","BK4588":"碎股","UPRO":"三倍做多标普500ETF","SPY":"标普500ETF","BK4581":"高盛持仓","BK4504":"桥水持仓","MEME":"ROUNDHILL MEME ETF","OEF":"标普100指数ETF-iShares"},"translate_title":"随着“动物精神”重返市场，跟踪迷因股票的ETF一直在飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BOTZ":1,"MEME":1,"IWO":1,"SPY":0.9,"IVV":0.6,"UPRO":0.6,"SSO":0.6,"SPXU":0.6,"SH":0.6,"SDS":0.6,"OEX":0.6,"OEF":0.6,".SPX":0.6,"ESmain":0.6},"content_text":"Traders on Reddit and other internet forums famously pushed up the price of meme stocks to dizzying highs at the start of the pandemic.\n                              \n\n                                  SOPA Images/Contributor\n                                \n\n\n\n\n\n\n\n\n\n\n\n\n                                      Redeem now\n                                     \n\n\n\n \n\n\n \n \n\n\n \n \n\n\n\n\nMeme stocks have been on the rise recently as November's market rally brings a wave of bullishness. \nA handful of meme-stock ETFs have beat the S&P 500 over the last trading week.\nStill, the ETFs have fallen much further from all-time highs than the S&P 500.\n\n\n\n\n\n\n\n\n \nNEW LOOK\n\n\n                                    Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview\n\n\n\n\n\n\n \n\n\nLoading\nSomething is loading.\n\n\n\n\n\n\n\n\n\n\n\n\n\nThanks for signing up!\n\n\n                              Access your favorite topics in a personalized feed while you're on the go.\n                              \n                                download the app\n                               \n\n\n\n\n\nEmail address\n\n\n\n\n\n                                      Sign up\n                                     \n\n\n\n                                  By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time.\n                              \n\n\n\n\n\n \n\nAdvertisement\n\nThe meme-stock boom of 2021 has waxed and waned since the pandemic heyday, and the latest rally in the market is bringing the speculative bets back into focus as investors chase the year-end equity rally. In a note on Tuesday, DataTrek Research cofounders Nicholas Colas and Jessica Rabe broke down the recent performance of several exchange traded funds with exposure to popular meme stocks, including the Roundhill MEME ETF (MEME), the Robotics & AI ETF (BOTZ), and iShares Russell 2000 Growth (IWO). \"The upshot: the reemergence of meme stocks shows investors' animal spirits are starting to run hot again,\" DataTrek said. Each of the funds have squarely beaten the returns of the S&P 500 over the five trading days leading up to Tuesday, even as equities saw a broad rally and Treasury yields declined.\nAdvertisement\n\nMEME, BOTZ, and IWO have seen gains of 10.8%, 6.6%, and 5.9%, respectively, while the S&P 500 has gained 3.1% in that stretch. In addition, MEME and BOTZ have outperformed the benchmark index since it hit a low on October 27.The table below shows the top holdings for each of the three ETFs, and the individual holdings' performance over the last five days, one month, and year-to-date. \"The average returns of these 3 ETFs' top 5 holdings best the S&P over the last 5 days, 1 month and YTD, and often by significant margins,\" according to DataTrek.\n\n\n\n\n                                  Meme stock ETFs recent performance\n                                \n\n                          \n                          DataTrek Research\n                          \n                          \n\nIt's worth noting that many of the most famous meme stock name, like GameStop and AMC, are down considerably in that stretch, signaling that investors recently are placing bullish bets on broader baskets of names rather than attempting to pick individual winners.\nAdvertisement\n\nStill, the recent outperformance for funds with exposure to meme stocks reflect \"generally bullish market conditions,\" Colas and Rabe maintained.DataTrek also noted on Tuesday that S&P 500 sector correlations suggests the November stock rally should continue through the end of the year.  The historical indicator points to investor confidence, and a key gauge is hovering near levels seen during previous bull markets. \n\n\n\n\n\n\n\n\n                          Read next\n                        \n\n\n\nMI Exclusive\nMarkets\nMeme stocks\n\n                      More...\n                    \n\nAdvertisement\n\n\n\n\nClose icon\nTwo crossed lines that form an 'X'. 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