Electronic Trade Funds that are in focus this week include those that focus on China's market, most notably iShares MSCI China ETF (NASDAQ: MCHI) which offers a board range of the Chinese market and includes firms like Alibaba (NYSE: BABA) and Tencent (OTC: TCEHY). Recently, ETFs that focus on the Chinese market have been seeing a slight increase from their initial coronavirus decline, with the bump coming from investors "buying the dip" to gain exposure into the Chinese market. Other major ETFs include iShares MSCI China A ETF (NYSE: CNYA) and iShares China Large-Cap ETF (NYSE: FXI).
Other ETFs on the move this week:
Cloud-based computing has become a very trendy focus of trade for 2020 so far. Companies like Amazon (NASDAQ: AMZN), IBM (NYSE: IBM), Microsoft (NASDAQ: MSFT), and Google (NASDAQ: GOOGL) have all been ramping up their command in this sector and have been putting more focus on enhancing their technologies. Global X Cloud Computing ETF (NASDAQ: CLOU) has gained exponentially in 2020 due to the growth of these companies.
With more investors focusing on ESG-based funds, Invesco Solar ETF (NASDAQ: TAN) is at its highest level since 2015 and has reached a new record high on Wednesday. Other ESG-based ETFs include Xtrackers MSCI USA ESG Leaders Equity ETF (NYSE: USSG), iShares MSCI USE ESG Select ETF (NYSE: SUSA) and iShares ESG MSCI USA Leaders ETF (NASDAQ: SUSL), all of which reached new record highs on Wednesday.
Communication and Telecom based ETFs have received a nice lift from the explosive performance from Sprint (NYSE: S) and T-Mobile's (NASDAQ: TMUS) growth following federal approval of their merger. Vanguard Communication Services Index Fund ETF Shares (NYSE: VOX) has reached new record highs this week, and SPDR S&P Telecom ETF (NYSE: XTL) is seeing positive growth.
Momentum ETF iShares Edge MSCI USA Momentum Factor ETF (NYSE: MTUM) reached an all-time high on Tuesday on the back of stocks like RingCentral (NYSE: RNG), SBA Communications (NASDAQ: SBAC), Settle Genetics (NASDAQ: SGEN) and Roku (NASDAQ: ROKU) posting high performance gains in the current bull market.