Bulletin
Investor Alert

London Markets Close in:

ETF Wrap Archives | Email alerts

Nov. 20, 2021, 9:39 a.m. EST

Bitcoin-linked fund from ProShares logs worst weekly ETF performance as crypto prices slump

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dimensional Core Fixed Income ETF (DFCF)
  • X
    Dimensional Short-Duration Fixed Income ETF (DFSD)
  • X
    Dimensional National Municipal Bond ETF (DFNM)

or Cancel Already have a watchlist? Log In

By Mark DeCambre

1 2

The AdvisorShares Poseidon Dynamic Cannabis ETF /zigman2/quotes/231018363/composite PSDN -5.99% will target a portfolio of about 30 stocks initially focusing most exposure to the U.S. market across the cannabis and related sectors. The ETF, which is listed on the Intercontinental Exchange /zigman2/quotes/209108507/composite ICE -1.25% -owned Arca platform, has an expense ratio of 0.92%. AdvisorsShares now has a trio of cannabis related funds, including AdvisorShares Poseidon Dynamic Cannabis ETF /zigman2/quotes/231018363/composite PSDN -5.99% and the popular AdvisorShares Pure US Cannabis ETF /zigman2/quotes/220307682/composite MSOS -4.98% , which was one of ETF Wrap’s top performers this week (see table attached).

The good…

Top 5 gainers of the past week %Performance
KraneShares CSI China Internet ETF /zigman2/quotes/205873167/composite KWEB 5.8
AdvisorShares Pure US Cannabis ETF /zigman2/quotes/220307682/composite MSOS 5.4
SPDR S&P Semiconductor ETF /zigman2/quotes/204438110/composite XSD 5.3
KraneShares Global Carbon ETF /zigman2/quotes/219806069/composite KRBN 5.2
Invesco Dynamic Semiconductors ETF /zigman2/quotes/209181828/composite PSI 5.0
Source: FactSet, through Wednesday, Nov. 17, excluding ETNs and leveraged products Includes NYSE, Nasdaq and Cboe traded ETFs of $500 million or greate r

and the bad

Top 5 decliners of the past week %Performance
ProShares Bitcoin Strategy ETF /zigman2/quotes/230440344/composite BITO -9.7
iShares MSCI Chile ETF /zigman2/quotes/205935893/composite ECH -5.9
U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS -4.4
NorthShore Global Uranium Mining ETF /zigman2/quotes/215396693/composite URNM -3.5
iShares MSCI Russia ETF /zigman2/quotes/206979425/composite ERUS -3.0
Source: FactSet

A bad week for ProShares

The bitcoin futures ETF run by ProShares was one of the worst performing ETFs among those that ETF Wrap screens for, and that’s not surprising considering the decline that bitcoin /zigman2/quotes/31322028/realtime BTCUSD -1.26% is down 10% so far this week. The ProShares Bitcoin Strategy ETF /zigman2/quotes/230440344/composite BITO -0.39% still boasts assets of $1.26 billion, compared with its rivals.

The Valkyrie Bitcoin Strategy ETF /zigman2/quotes/230473388/composite BTF -0.71% only has about $53 million in assets and VanEck Bitcoin Strategy ETF /zigman2/quotes/230997909/composite XBTF -0.14% has less than $9 million. Both are also down but don’t meet our screening criteria for size.

The bitcoin futures-pegged ETFs also are challenged by so-called contango issues, which is a condition where prices are higher for longer-dated contracts. The net result is that the ETF will have to roll contracts at higher prices even as the spot market is lower.

Bitcoin prices are around $57,000, up 5.6% on CoinDesk and Ether /zigman2/quotes/108573964/realtime ETHUSD -3.50% on the Ethereum network, was trading at $3,995, down 6%.

Black Friday

What inflation? U.S. retail sales are hot and recent figures underscore the fact that rising prices haven’t yet chilled consumer enthusiasm for buying things.

Indeed, retail sales surged 1.7% last month,  the government said earlier this week , marking the biggest gain since March when stimulus checks were being doled out.

The SPDR S&P Retail ETF /zigman2/quotes/206947004/composite XRT -4.50% best highlights the rally in retail thus far in 2021. The ETF is up over 60% and has risen nearly 10% in November alone, FactSet data show. Company’s like Macy’s /zigman2/quotes/201854387/composite M -6.91% , Abercrombie & Fitch /zigman2/quotes/206677024/composite ANF -28.81% and Kohl’s Corp. /zigman2/quotes/210414114/composite KSS -7.32% were surging on Thursday, with Black Friday next week. So far this year, Kohl’s is up nearly 50%, A&F is up 133% and Macy’s shares have surged 233%.

VanEck Retail ETF also is up but by a comparatively less dazzling 26%.

By comparison, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.46% is up 22% so far in 2021, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -2.36% has gained 25% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -3.63% has climbed 24% thus far in the year.

Oddly, online retailers are declining, down 4.2% on the year, gauged by Amplify Online Retail ETF /zigman2/quotes/206522380/composite IBUY -6.47% .

Good ETF reads

/zigman2/quotes/231018363/composite
US : U.S.: NYSE Arca
$ 3.61
-0.23 -5.99%
Volume: 1,277
May 24, 2022 10:30a
loading...
/zigman2/quotes/209108507/composite
US : U.S.: NYSE
$ 96.88
-1.23 -1.25%
Volume: 398,292
May 24, 2022 10:57a
P/E Ratio
13.48
Dividend Yield
1.57%
Market Cap
$54.77 billion
Rev. per Employee
$1.16M
loading...
/zigman2/quotes/231018363/composite
US : U.S.: NYSE Arca
$ 3.61
-0.23 -5.99%
Volume: 1,277
May 24, 2022 10:30a
loading...
/zigman2/quotes/220307682/composite
US : U.S.: NYSE Arca
$ 13.65
-0.72 -4.98%
Volume: 264,564
May 24, 2022 10:57a
loading...
/zigman2/quotes/205873167/composite
US : U.S.: NYSE Arca
$ 24.85
-1.77 -6.65%
Volume: 9.19M
May 24, 2022 10:57a
loading...
/zigman2/quotes/220307682/composite
US : U.S.: NYSE Arca
$ 13.65
-0.72 -4.98%
Volume: 264,564
May 24, 2022 10:57a
loading...
/zigman2/quotes/204438110/composite
US : U.S.: NYSE Arca
$ 165.26
-6.46 -3.76%
Volume: 23,954
May 24, 2022 10:52a
loading...
/zigman2/quotes/219806069/composite
US : U.S.: NYSE Arca
$ 47.59
+1.32 +2.85%
Volume: 107,590
May 24, 2022 10:54a
loading...
/zigman2/quotes/209181828/composite
US : U.S.: NYSE Arca
$ 105.48
-3.89 -3.56%
Volume: 4,274
May 24, 2022 10:57a
loading...
/zigman2/quotes/230440344/composite
US : U.S.: NYSE Arca
$ 17.97
-0.07 -0.39%
Volume: 3.20M
May 24, 2022 10:57a
loading...
/zigman2/quotes/205935893/composite
US : U.S.: Cboe BZX
$ 28.52
-0.42 -1.45%
Volume: 83,179
May 24, 2022 10:57a
loading...
/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 18.65
-0.90 -4.60%
Volume: 1.40M
May 24, 2022 10:57a
loading...
/zigman2/quotes/215396693/composite
US : U.S.: NYSE Arca
$ 63.30
-2.77 -4.19%
Volume: 184,357
May 24, 2022 10:57a
loading...
/zigman2/quotes/206979425/composite
US : U.S.: NYSE Arca
$ 8.06
-2.76 -25.51%
Volume: 0.00
March 3, 2022 5:00p
loading...
/zigman2/quotes/31322028/realtime
US : CoinDesk
28,919.38
-369.60 -1.26%
Volume: 0.00
May 24, 2022 10:57a
loading...
/zigman2/quotes/230440344/composite
US : U.S.: NYSE Arca
$ 17.97
-0.07 -0.39%
Volume: 3.20M
May 24, 2022 10:57a
loading...
/zigman2/quotes/230473388/composite
US : U.S.: Nasdaq
$ 11.14
-0.08 -0.71%
Volume: 536,316
May 24, 2022 10:52a
loading...
/zigman2/quotes/230997909/composite
US : U.S.: Cboe BZX
$ 28.27
-0.04 -0.14%
Volume: 4,525
May 24, 2022 10:36a
loading...
/zigman2/quotes/108573964/realtime
US : Kraken
1,926.40
-69.95 -3.50%
Volume: 48.88M
May 24, 2022 10:56a
loading...
/zigman2/quotes/206947004/composite
US : U.S.: NYSE Arca
$ 58.43
-2.76 -4.50%
Volume: 2.23M
May 24, 2022 10:57a
loading...
/zigman2/quotes/201854387/composite
US : U.S.: NYSE
$ 17.10
-1.27 -6.91%
Volume: 6.20M
May 24, 2022 10:57a
P/E Ratio
3.70
Dividend Yield
3.70%
Market Cap
$5.23 billion
Rev. per Employee
$284,637
loading...
/zigman2/quotes/206677024/composite
US : U.S.: NYSE
$ 19.03
-7.70 -28.81%
Volume: 6.94M
May 24, 2022 10:57a
P/E Ratio
4.51
Dividend Yield
0.00%
Market Cap
$1.35 billion
Rev. per Employee
$117,866
loading...
/zigman2/quotes/210414114/composite
US : U.S.: NYSE
$ 35.44
-2.80 -7.32%
Volume: 1.26M
May 24, 2022 10:57a
P/E Ratio
5.52
Dividend Yield
5.62%
Market Cap
$4.92 billion
Rev. per Employee
$194,556
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,413.96
-466.28 -1.46%
Volume: 110.00M
May 24, 2022 10:57a
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,880.10
-93.65 -2.36%
Volume: 646.00M
May 24, 2022 10:57a
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
11,116.38
-418.89 -3.63%
Volume: 1.33M
May 24, 2022 10:57a
loading...
/zigman2/quotes/206522380/composite
US : U.S.: NYSE Arca
$ 42.50
-2.94 -6.47%
Volume: 29,251
May 24, 2022 10:55a
loading...

1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.