On the naughty list? Trackinsight finds US ETFs targeting sin & pleasure outperform
ETF Express's data partner Trackinsight reveals that the Santa Rally - the phenomenon for stocks to rise over the course of December - has helped ETFs tracking sin and partying boom over the last week as investors have thrown off the gloom of an extended pandemic and embrace more pleasure-seeking options.
The Global X Cannabis ETF (POTX), has reversed direction after a month of poor performance to rise 9.8 per cent this week. Investors, possibly encouraged by the strengthening US economy and light at the end of the COVID tunnel have seen the AdvisorShares Restaurant ETF (EATZ) rise 9.5 per cent over the week and the AdvisorShares Vice ETF (VICE) that tracks a portfolio of tobacco, alcohol, gaming and hospitality stocks has jumped by 8.2 per cent. Also on the naughty list, but performing nicely this week, is the Roundhill Sports Betting & iGaming ETF (BETZ) which has risen by 7.6 per cent.