Value stock exchange traded funds pushed ahead on Tuesday, with the U.S. equity markets on pace for another record finish.

All three major U.S. equity benchmarks were higher on Tuesday, with the S&P 500 and the Nasdaq set to hit record closing highs.

“When you look at slower periods in the market – and we’re in that pre-Labor Day, last gasp of summer – it’s not unusual for markets to have an upward rise,” Chuck Carlson, chief executive officer at Horizon Investment Services, told Reuters. “Spurring that is some of the news that’s come out on the (Delta) variant front, the full approval of the vaccine.”

The U.S. Food and Drug Administration fully approved the use of the Pfizer-BioNTech COVID-19 vaccine Monday, adding to optimism over economic recovery outlook, which some argued spilled over into Tuesday’s session.

Economically sensitive cyclicals and smaller stocks were also outperforming the broader market.

“In a market where people are looking for opportunity, they’re finding it again in these economically sensitive stocks,” Carlson added.

Investors were also hoping that the weakening pace of the economic recovery could prevent the Federal Reserve from enacting any tapering of its easy monetary policy. Fed Chair Jerome Powell will meet with other World Bank leaders as the Jackson Hole Symposium convenes later this week. Market watchers will be monitoring the proceedings closely to consider any clues on the Fed’s tapering of asset purchases and hiking key interest rates.

ETF investors interested in a targeted approach to the value segment can look to the American Century STOXX U.S. Quality Value ETF (NYSEArca: VALQ). VALQ’s stock selection process includes a value score based on value, earnings yield, and cash flow yield, along with a sustainable income score based on dividend yield, dividend growth, and dividend coverage.

The American Century Focused Large Cap Value ETF (FLV) tries to achieve long-term returns through an investment process that seeks to identify value and minimize volatility. FLV holdings and value stocks usually trade at lower prices relative to fundamental value measures, like earnings and the book value of assets.

Lastly, the Avantis U.S. Small Cap Value ETF (AVUV), an actively managed ETF, seeks long-term capital appreciation. The fund invests primarily in U.S. small cap companies and is designed to increase expected returns by focusing on firms trading at what are believed to be low valuations with higher profitability ratios.

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