Top ASX ETF Weekly Gainers

Uranium and Tech Drive ASX ETFs

This week on the ASX, exchange-traded funds (ETFs) with exposure to yellow cake and technology led the pack in terms of price gains. Although the top gainer was a short-term trading instrument.

Uranium Heats Up

The trend of uranium-focused ETFs continues as written about by JustStocks. This surge coincides with the spot price of uranium reaching US$81.45 a pound. Betashares Global Uranium ETF (ASX: URNM) was pre-eminent.

Editors note: Returns for single commodity ETFs tend to be volatile in the short to medium term and instruments for more experienced investors.

Long-term uranium contracts use different pricing mechanisms than the spot market, which tends to be smaller in fulfilling reactor needs.

Japan in the Spotlight

Bucking the global trend of interest rate hikes causing stock market dips, Japan’s Nikkei 225 rallied after the Bank of Japan’s rate increase.

Say what!? A rate hike and surging stocks and ETFs is exactly the formula in the land of the rising sun that has set the Nikkei 225 alight.

While it has slipped from highs that surfaced on 22 March, the Nikkei 225 is at levels not dreamed of by investors in over 25 years.

Editors note: The single country Japan ETFs that JustStocks wrote about surged again as investors gave the thumbs up to the Bank of Japan’s interest rate hike.

Single-country ETFs also have a high volatility factor.

This unexpected move by investors reflects optimism in the Japanese economy, not seen in over 25 years.

ETFs like the Betashares Japan ETF (Currency Hedged) (ASX: HJPN) benefited from this surge, appearing in the top gainers list.

Semiconductors Power On

Investor appetite for semiconductors remained strong, with ETFs holding companies like Nvidia, TSMC, and Broadcom performing well.

The Global X Semiconductor ETF (ASX: SEMI) is a prime example of this trend and a large gainer for the week.

LNAS Takes the Top Spot

However, it was the Global X Ultra Long Nasdaq 100 Hedge Fund (ASX: LNAS) that took out the number one gainer rank.

Unlike many of the gainers, LNAS is an actively managed ETF that invests in a portfolio of long E-mini Nasdaq-100 Futures contracts listed on the Chicago Mercantile Exchange. As an actively managed fund, it has a fee of 1% per annum.

It’s important to remember that leveraged funds like LNAS are complex instruments best suited for experienced investors due to their ability to amplify returns (both positive and negative).

Weekly ASX ETF Gainers

ETF Ticker Code Gain (%)
Global X Ultra Long Nasdaq 100 Hedge Fund LNAS +6.9
Betashares Japan ETF (Currency Hedged) HJPN +6.3
Betashares Global Uranium ETF URNM +5.2
Global X FANG+ ETF FANG +5.2
Betashares Geared US Equity Fund (Currency Hedged) GGUS +4.8
Betashares Solar ETF TANN +4.8
Global X Semiconductor ETF SEMI +4.7
Global X Uranium ETF ATOM +4.4
iShares MSCI World ex Australia Momentum ETF IMTM +4.3
Global X Battery Tech & Lithium ETF ACDC +4.2

 

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JustStocks Advisor
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