ETFs with Amazon exposure brushed off President Donald Trump’s latest tweets for the third time, with the funds continuing to rise despite the negative attention Trump is creating around the company.
Trump Tweets Amazon “causing tremendous loss to the U.S.”
Trump targeted Amazon again Thursday morning, tweeting: “I have state my concerns with Amazon long before the election. Unlike Others, they pay little or no taxes to state and local governments, use our Postal System as their Delivery Body (causing tremendous loss to the U.S.) and are putting many thousands of retailers out of business!”
Trump blames Amazon for the decline of brick-and-mortar retailers and the pain that has caused real-estate developers. According to the Axios reporter Jonathan Swan, Trump believes Amazon is a negative force for smaller, locally owned retailers and wants to find a way to curve the company’s dominance.
Let’s take a look at the Top 5 ETFs with Amazon exposure as of 1 p.m. Eastern time.
5 ETFs with Exposure to Amazon
- VanEck Vectors Retail ETF (RTH) – Amazon weighting: 15.13% up .11%.
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RTHVanEck Vct Rtl96.23-0.18%
- SPDR Consumer Discretionary Select Sector Fund (XLY) – Amazon weighting: 12.39% up .63%.
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XLYSel Sct Cns Dis105.93+0.21%
- First Trust DJ Internet Index Fund (FDN) – Amazon weighting: 10.04% up 1.54%.
- Fidelity MSCI Consumer Discretionary Index ETF (FDIS) – Amazon weighting: 9.95% up .61%.
- Vanguard Consumer Discretionary ETF (VCR) – Amazon weighting 9.90% up .57%.
Are Trump’s Claims True?
The Supreme Court is considering a case that could give states more power to collect sales tax on online retailers.