5 ETFs to Buy at All-Time Highs

The S&P 500 and the Nasdaq have been witnessing record-setting sessions. Hopes of a coronavirusvaccine, an unprecedented slew of stimulus, rock-bottom interest ratesand better-than-feared second-quarter earnings (amid coronavirus situation) perked up investors’ sentiments, leading to a spike in stocks.

Investors are bracing for a potential economic recovery in 2021, per Goldman Sachs, as quoted on CBS News. “Goldman Sachs Economics now forecasts U.S. GDP will rebound by +6.4% in 2021”, the source said. That optimism will likely take the S&P 500 to 3600 by the end of 2020, Goldman predicted, as reported by the above-said source.

On the vaccine front, President Trump announced that the U.S. government will buy 100 million doses of Moderna’s coronavirus vaccine. Moderna, AstraZeneca, Pfizer and Johnson & Johnson are some of the prominent names in the vaccine research field, whose candidates are showing promise.The Financial Times reported that the Trump administration is considering providing "emergency use" approval of the experimental coronavirus vaccine from AstraZeneca and Oxford University in October.

On the treatment front, the U.S. Food and Drug Administration (FDA) issued an emergency use authorization for investigational convalescent plasma to treat COVID-19 in hospitalized patients. While the treatment has not yet undergone full clinical trials, the FDA feels that the“product may be effective in treating COVID-19 and that the known and potential benefits of the product outweigh the known and potential risks of the product.”

On Aug 26, tech stocks drove the market rally.  Facebook (FB), Amazon (AMZN), Apple (AAPL), Microsoft (MSFT) and Alphabet (GOOG, GOOGL) posted their highest-ever closing levels, per an article published on Yahoo Finance. Salesforce (CRM) jumped 26% on a solid earnings beat and the announcement of its inclusion in the Dow Jones Industrial Average.

Against this backdrop, below we highlight a few ETFs that are currently trading at an all-time high and still have room to run.Notably, the virus is forcing us to stay at home. So, anything related to home improvement and cook-at-home activity, online shopping, esports, and last but not the least work from home would continue to prevail.

ETFs in Focus

Invesco NASDAQ Internet ETF (PNQI)

The underlying NASDAQ Internet Index is a modified market-capitalization weighted index designed to track the performance of the largest & most liquid U.S.-listed companies engaged in Internet-related businesses & listed on one of the three major U.S. stock exchanges.

The fund is trading at $216.27, up 100% from the 52-week low price. Internet ETFs have the potential to soar further due to the rising demand for technology and Internet-related activities amid virus-led social distancing protocol (read: Internet ETFs to Keep Soaring Amid Coronavirus Crisis).

WisdomTree Cloud Computing ETF WCLD

The underlying BVP Nasdaq Emerging Cloud Index is equally weighted and designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers. The fund hit a high of $44.11, up 132.2% from $18.99.Cloud computing is another beneficiary of the stay-at-home trend (read: 4 ETF Investing Styles for Q3).

iShares Russell Top 200 Growth ETF (IWY)

The underlying Russell Top 200 Growth Index is a style factor weighted index that measures the performance of the largest capitalization growth sector of the U.S. equity market. It is up 77% from its 52-week low price of $71.86 per share. Growth stocks have been the biggest gainers of the latest market rally (read: 5 Growth ETFs & Stocks to Ride the Market Rally).

First Trust NASDAQ Clean Edge Green Energy ETF (QCLN)

The underlying NASDAQ Clean Edge Green Energy Index tracks the performance of clean energy companies publicly traded in the United States and includes companies engaged in manufacturing, development, distribution & installation of emerging clean-energy technologies including, but not limited to, solar photovoltaics, biofuels and advanced batteries. The fund is up 164.3% from the 52-week low price of $16.14 per share. The fund QCLN has exposure to Tesla. The electric carmaker’s huge rally and global awareness toward clean energy will keep pushing the fund higher.

Principal Millennials Index ETF (GENY)

The underlying NASDAQ Global Millennial Opportunity Index provides exposure to the global equity securities of companies that are impacted by the spending and lifestyle activities of the Millennial generation. The fund is up 85.3% from its 52-week low price. Millennials surpassed Baby Boomers as America’s largest generation. So, their spending pattern will influence the economy and markets greatly.

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Invesco NASDAQ Internet ETF (PNQI): ETF Research Reports
First Trust NASDAQ Clean Edge Green Energy ETF (QCLN): ETF Research Reports
Principal Millennials Index ETF (GENY): ETF Research Reports
iShares Russell Top 200 Growth ETF (IWY): ETF Research Reports
WisdomTree Cloud Computing ETF (WCLD): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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