2 ETFs Getting Hit by Twitter's Tumble

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passing-mention exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/SPOT fcode SPTFTS status modified co TNSPCK co|TNSPCK symbol WORK country US codetype co displayname Slack Technologies extractedtext Slack source MANUAL code work name Slack significance passing onlinesignificance passing-mention exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/WORK fcode TNSPCK status modified co UBRTI co|UBRTI symbol UBER country US codetype co displayname Uber Technologies extractedtext Uber source MANUAL code uber name Uber significance passing onlinesignificance passing-mention exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/UBER fcode UBRTI status modified co FJFVPL co|FJFVPL symbol SNAP country US codetype co displayname Snap extractedtext Snap source MANUAL code snap name Snap significance passing onlinesignificance passing-mention exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/SNAP fcode FJFVPL status modified company TWTR company|TWTR name Twitter significance PROMINENT company FB company|FB name Facebook significance PROMINENT company GOOGL company|GOOGL name Alphabet significance PROMINENT company NFLX company|NFLX name Netflix significance PROMINENT company VZ company|VZ name Verizon significance PROMINENT company T company|T name AT&T significance PROMINENT company DIS company|DIS name Walt Disney significance PROMINENT company AMZN company|AMZN name Amazon.com significance PROMINENT company SPOT company|SPOT name Spotify significance PROMINENT company WORK company|WORK name Slack significance PROMINENT company UBER company|UBER name Uber significance PROMINENT company SNAP company|SNAP name Snap significance PROMINENT djn SOCL djn|SOCL significance prominent onlinesignificance prominent name SOCL why about source FACTIVA occurs true fcode SOCL codetype djn code socl djn AMZN djn|AMZN significance passing onlinesignificance passing-mention name AMZN why occur source FACTIVA fcode AMZN 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canbedisplaybrand true name Sector Focus title Sector Focus status modified code BARSECFOCUS wordcount 452 wordcount|452 id facebook id|facebook news_tab_url https://www.barrons.com/articles/2-etfs-getting-hurt-by-twitter-stock-tumble-51571935136 Photograph by Alastair Pike/AFP/Getty Images Twitter Stock Is Plunging. 2 ETFs That Feel Its Pain. Twitter Stock Is Plunging. 2 ETFs That Feel Its Pain. 2 ETFs Getting Hurt by Twitter Stock Tumble

The Global X Social Media ETF and the Communication Services Select SPDR ETF are both getting hit due to large positions in Twitter, which has dropped 19% after releasing earnings.

2 ETFs Getting Hit by Twitter’s Tumble

The Global X Social Media ETF and the Communication Services Select SPDR ETF are both getting hit due to large positions in Twitter, which has dropped 19% after releasing earnings.

https://www.barrons.com/articles/twitter-stock-drops-as-earnings-miss-software-glitch-blamed-51571922604 https://www.barrons.com/articles/how-to-play-the-stocks-in-the-streaming-tv-revolution-51571431746 https://newsroom.morningstar.com/newsroom/news-archive/press-release-details/2019/Morningstar-Hall-of-Fame-Fund-Manager-of-the-Year-Winners/default.aspx Twitter Stock Is Plunging. 2 ETFs That Feel Its Pain. By John Coumarianos Photograph by Alastair Pike/AFP/Getty Images

Twitter stock is down nearly 20% on an earnings miss, and that’s hurting some exchange-traded funds.

The Global X Social Media ETF (SOCL) counts Twitter (TWTR) as its top holding with 12% of its $124 million invested in 0.05% of the social media firm’s shares. The fund, which tracks the Solactive Social Media Total Return Index, is down 2% at $31.26 today, while the Nasdaq Composite has risen 0.7%.

Facebook (FB) is the fund’s second holding, soaking up nearly 11% of its assets. The fund had been lagging the S&P 500 for the year, with a 16% return as of Wednesday’s close. The index, including dividends, had returned 22% for the year through Wednesday.

The Communication Services Select SPDR ETF (XLC) has around 4% of its $6.2 billion in Twitter, making the social media firm the fund’s 11th largest holding. The fund had an impressive 23% year-to-date return through yesterday, Oct. 23, outpacing the S&P 500 by a little more than 1 percentage point. The fund contains a mix of new technology and communications companies such as Facebook, Alphabet (GOOGL), and Netflix (NFLX), along with more traditional firms such as Verizon (VZ), AT&T (T), and Walt Disney (DIS). The ETF is down 1.1% at $49.97 Thursday.

Among more diversified actively managed funds, the $2.5 billion Transamerica Capital Growth (TFOIX) fund run by veteran investor, Dennis Lynch, has nearly 6% of its portfolio in Twitter. The fund has a whopping 55% of its asset in technology holdings including positions in Amazon.com (AMZN), Spotify (SPOT), Slack (WORK), Alphabet, Uber (UBER), Netflix, and Snap (SNAP), and has earned a 4-star rating from Mornignstar reflecting past volatility-adjusted performance in the large growth stock fund category. For the past five years through Oct. 23, the fund has delivered a 13.4% annualized return, compared with the S&P 500 11.2% return. Lynch is a well-known growth investor who likes companies that dominate their industries by offering hard-to-replicate products or services, and sport high returns on invested capital. Lynch was the 2013 recipient of Morningstar’s domestic stock fund manager of the year award.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.