Invesco’s semiconductor ETFs were among the best-performing ETFs last week.
The Invesco PHLX Semiconductor ETF (SOXQ ) and the Invesco Dynamic Semiconductors ETF (PSI ) stood out for providing impressive gains last week as semiconductor stocks rallied. SOXQ climbed 11.6% while PSI climbed 9.2% during the week.
Semiconductor stocks were lifted by NVIDIA Corporation (NVDA) reporting blockbuster first quarter earnings last week. Shares of Nvidia have climbed around 33% over the past five days and, on Tuesday, the company became the first semiconductor company to reach a market value of $1 trillion.
Semiconductors include products such as memory chips, microprocessors, integrated circuits, and related equipment that serve a wide variety of purposes in various types of electronics, including personal household products, automobiles, and computers.
Nvidia is the top holding in PSI, weighted at 7.20%. Meanwhile, Nvidia is the second holding in SOXQ, weighted 9.85%, trailing Advanced Micro Devices (AMD), which has a 10.24% weight.
Both funds have posted standout year to date returns. SOXQ is up 40.9% as of May 26, while PSI has advanced 29% during the same period.
SOXQ tracks the PHLX Semiconductor Sector Index. The index measures the performance of the 30 largest U.S.-listed securities of companies engaged in the semiconductor business.
SOXQ charges 19 basis points and has $112 million in assets under management.
PSI is based on the Dynamic Semiconductor Intellidex Index. The index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action, and value. The index comprises 30 U.S. semiconductors companies.
PSI has accreted $572 million in assets since its inception in 2005. The pricier of the two semiconductor ETFs, PSI charges 56 basis points.
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