In a sign that risk appetite is not waning, some of the other most searched equity-based ETFs feature heavy tilts toward the consumer discretionary, biotechnology and technology sectors.
That is certainly true of the PowerShares QQQ (NasdaqGM: QQQ). The NASDAQ-100 tracking ETF finished the week at a 14-year high. A 13.4% weight to Apple (NasdaqGS: AAPL) has been helping QQQ. So has a combined 33% weight to discretionary and health care (meaning mostly biotech) stocks. [Apple Drives a Return to Tech ETFs]
Speaking of biotech stocks, the First Trust NYSE Arca Biotechnology Index Fund (NYSEArca: FBT) and the iShares Nasdaq Biotechnology ETF (NasdaqGS: IBB) each claimed spots in this week’s most searched list. FBT touched an all-time high Wednesday.
With U.S. stocks racing to a new set of all-time highs this week, investors focused more intently on U.S. ETFs, but the iShares China Large-Cap ETF (NYSEArca: FXI), Market Vectors India Small-Cap Index ETF (NYSEArca: SCIF) and the iShares MSCI Frontier 100 ETF (NYSEArca: FM) each appeared on the most searched list. SCIF is the second-best non-leveraged exchange traded product this year with a gain of 53.1%.
PowerShares QQQ
Tom Lydon’s clients own shares of HYG, QQQ and Apple.