Commodities and bond alternatives are the big story in the global economy and in the ETF world, and we have two of the experts to guide you. Join us Monday on ETF Edge at 1 PM when our guests will be Sal Gilbertie, CEO of Teucrium, and Bryon Lake, Global Head of ETF Solutions at J.P. Morgan Asset Management. Teucrium is big in the commodity space, with ETFs for corn (CORN), wheat (WEAT), soybeans (SOYB), and sugar (CANE). They have also received approval for a bitcoin futures ETF, so we'll catch up on the latest for a possible spot bitcoin ETF. Plus, we will explore alternatives to bond funds with JP Morgan's Bryon Lake. ETFedge.cnbc.com.
Big week for earnings causing all sorts of gyrations in ETFs. Take Meta (FB) - 321 ETFs own it, and when it jumped 18% after earnings on Thursday, there was a lot of price jumps, particularly in the Communication Services Select Sector SPDR ETF (XLC), where FB is 20% of the holdings.
Tough week for Cathie Wood. Teladoc's 40% decline on earnings and guidance Wednesday night was tough for Cathie: it's her #3 holding in her flagship ARKK fund where it is 6.8% of the holdings, but it's also a big holding in her other funds, the ARK Genomic Revolution ETF (ARKG), the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF).
Fidelity to allow bitcoin in 401(k) accounts. You knew this was going to happen, though it is a bit of surprise that the first large firm to allow it would be Fidelity, known to be a bit conservative. Fidelity and Vanguard are the two largest 401(k) plan sponsors, so this is a significant announcement. They will limit it to 20% of assets, at least initially.
Invesco is getting even deeper into the commodity space; this week they began trading in the Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). EVMT is an actively managed ETF designed to provide economic exposure to the commodities widely used in the production of electric vehicles. It's designed to provide economic exposure to the commodities widely used in the production of electric vehicles. This allows investors the ability to focus solely on industrial metals rather than a midstream investment in companies that manufacture batteries and electric vehicles, according to Invesco.
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