More and more job seekers are finding remote, work-from-home options in their search, which is certainly a sign of the times. As more companies and their respective CEOs embrace this work-from-home culture, it should help fuel certain exchange-traded funds (ETFs).
Per a Baystreet.ca article, here are a few of what CEOs are saying nowadays:
Fiverr International CEO Micha Kaufman says, “We have seen particular strength in categories related to moving businesses from off-line to online as well as digital content-related categories such as gaming, social media, online lessons and e-books,” as quoted by Wall Street Reporter.
Avaya Holdings Corp. CEO, Jim Chirico says, “The current macro environment has only accelerated what was a developing trend and the way people work is going to fundamentally change and move to a work from anywhere model. It will become the norm. Work will be more distributed, whether it’s allowing remote workforces to stay connected or helping our customers respond to their customers urgent needs.”
Livongo Health CEO Zane Burke says, “There is no question in our mind that this pandemic has accelerated a more extensive virtual care delivery model. Remote monitoring is here to stay, and we expect it to become the standard of care for the most vulnerable and expensive populations. The genie is out of the bottle in terms of remote patient monitoring. And – that’s going to be part of the future health care system as it moves forward.”
As such, one new ETF to look at is the Direxion Shares ETF Trust – Direxion Work From Home ETF (WFH). The fund invests in stocks of companies operating across work from home includes remote communications, cybersecurity, project and document management, and cloud technologies sectors. It invests in growth and value stocks of companies across diversified market capitalization.
It seeks to track the performance of the Solactive Remote Work Index, by using full replication technique. Additionally, WFH:
- Uses advanced techniques to identify the 40 stocks accelerating greater adaption of remote work
- Offers exposure to four pillars, across established and emerging technologies, that power the ability to work from home efficiently and effectively
- May be considered a satellite holding to complement other broader positions within a portfolio
On a broader scale, traders looking to play the bullish side of tech can use the Direxion Daily Technology Bull 3X ETF (TECL ). TECL seeks daily investment results of 300% of the daily performance of the Technology Select Sector Index, which includes domestic companies from the technology sector.
For more market trends, visit ETF Database.