Worst Performing ETFs of the Week

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These were the worst performing ETFs of the week.

NRGD — MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN -26.11%

OILD — MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN -25.25%

DRIP — Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares -19.88%

DUG — ProShares UltraShort Oil & Gas -15.95%

ERY — Direxion Daily Energy Bear 2X Shares -15.77%

Gold ETFs Not Seeing Inflation Boost

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As inflation runs to its highest level gold inflation hedges have been underperforming. The SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU) are both down -2.3%.

iBET (IBET) Sports Betting & Gaming ETF up 22% in a month

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Sports Betting & Gaming stocks are outperforming in recent weeks. Some of the more recent catalysts include strong earnings, revenge travel, Vegas occupancy, China slowly opening and the start of the NFL & College Football seasons. California also has a ballot measure for legalization coming in November that could also be huge catalyst for the industry. With those factors in mind, lets take a look at the iBET (IBET) Sports Betting & Gaming ETF which is up nearly 22% in the past month and some of the funds top holdings. Top Holdings of the iBET (IBET) Sports Betting & Gaming ETF Draft Kings (DKNG) – One of the most heavily traded stocks in this industry, it’s one of the best known brand names and was part of the meme stock frenzy. For the three months ended June 30, 2022, DraftKings reported revenue of $466 million, an increase of 57% compared to $298 million during the same period in 2021. “DraftKings had an excellent second quarter, exceeding expectations for revenue and Adjusted EBITDA,” said Jason Robins, DraftKings’ co-founder, Chief Executive Officer and Chairman of the Board. Draft Kings has been on a tear up nearly 80% in the past month. Current iBET (IBET) Sports Betting & Gaming ETF Exposure – 8.06% Flutter (FLTR) – Flutter is mostly known in the US by its subsidiary Fan Duel. Flutter issued its first half 2022 earnings report that showed revenues increased 10.9% year-over-year to $4.12 billion, aided in part by the success of the company’s sports betting segment in the U.S. led by FanDuel. “We are particularly pleased with momentum in the US where we extended our leadership in online sports betting with FanDuel claiming a 51% share of the market and number one position in 13 of 15 states, helping contribute to positive earnings in Q2,” Flutter CEO Peter Jackson said. So while Draft Kings is more heavily traded FLTR is actually the market share leader in the US currently. At one point it was believed that Fan Duel would be going public, but the recent market has derailed IPOs. Keep an eye on a potential partnership with FuboTV and Flutter when it comes to sports betting. Flutter has a stronghold on European Soccer and FuboTV is well known for its Soccer package. Current iBET (IBET) Sports Betting & Gaming ETF Exposure – 5.61% Penn Entertainment (PENN) – Penn is most known for it’s partial ownership of Barstool Sports, the Dave Portnoy lead sports, gaming and entertainment company. They also own The Score and MyChoice and a host of Racetracks and Casinos. The company recently changed its name to Penn Entertainment from Penn National Gaming. In terms of growth Penn has been able to grow its EPS at 39% per year over three years, CEO Jay Snowden pointed out that $PENN beat consensus on revenues and EBITDAR and generated sequential upside over last quarter due to “performance of our interactive segment and strong results at our retail operations despite a tough comp against the second quarter last year.” Current iBET (IBET) Sports Betting & Gaming ETF Exposure – 4.81% Other Interesting Holdings of the iBET (IBET) Sports Betting & Gaming ETF The Lottery Corporation (TLC – AU) – The Lottery Corporation a company that operates in Australia, recently went through a de-merger with Tabcorp TAH – AU. Recent rumblings suggest that the de-merger was made to make The Lottery Corporation, which is a great cash flow business more attractive for a potential buyout down the road. Bally’s (BALY) – Bally’s Corporation reported second-quarter net income of $59.5 million. On a per-share basis, the company had net income of 98 cents. Earnings, adjusted for non-recurring gains, came to 32 cents per share. The results beat Wall Street expectations. Ballys is one to watch in the future as they are making a major push into Vegas with their purchase of the Tropicana Hotel. Bally’s is also working on a new waterfront casino in Chicago. We find the iBET (IBET) Sports Betting & Gaming ETF to be the most interesting of the Sports betting ETFs because it is the only actively managed fund in the space and not tied to an index. YTD iBET has outperformed BETZ by nearly 5%. Jeffrey Kamys the Chief Investment Strategist of the fund noted that, “with so many mergers, territorial carveouts and expansion plans happening in the space, active management is the only thing that makes sense” Kamys also note that the Sports Betting & Gaming industry is currently in, “inning zero” especially when it comes to US expansion.

Sports Betting and Gaming ETF (IBET) Adds New Positions

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The iBET Sports Betting and Gaming ETF (IBET) has announced the addition of new positions. The fund plans to acquire more shares of DraftKings Inc (DKNG) while adding new positions in Full House Resorts, Inc. (FLL) and Super Group Limited (SGHC).

Single-Stock ETFs Launching Quickly

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After the SEC approved the launch of single-stock ETFs, the market has been flooded with new options for investors. Over the past month AXS Investments alone has launched eight, GraniteShares followed with four, and Direxion just recently launched one as well. Investors should understand the risk involved with single-stock ETFs as their price is solely affected by the stock. The ETFs also tend to have a larger fee with some as high as 1.15%.

GraniteShares Launches Four Leveraged Single-Stock ETFs

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ETF issuer GraniteShares is joining the single-stock party with the launch of four leveraged ETFs. The ETFs are, the GraniteShares 1.25X Long TSLA Daily ETF (TSL), the GraniteShares 1X Short TSLA Daily ETF (TSLI), the GraniteShares 1.5X Long COIN Daily ETF (CONL), and the GraniteShares 1.75X Long AAPL Daily ETF (AAPB).

Direxion Launches Leveraged EV & AV ETF

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Direxion has today announced the of the launch of a new leveraged ETF. The Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) looks to give investors 200% of the daily performance of the Indxx US Electric and Autonomous Vehicles Index.

J.P. Morgan Launches Growth ETF

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J.P. Morgan Asset Management has just announced the launch of a new active ETF  looking to outperform the Russell 1000 Growth Index. The JPMorgan Active Growth ETF (JGRO) plans to find companies that are under appreciated but have growth potential in the market.

New ETF To DRLL Into U.S. Energy Sector

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Strive Asset Management is looking to fight back against “stakeholder capitalism” with the launch of the Strive U.S. Energy ETF (DRLL). As the name suggests, DRLL will look to offer investors broad exposure to the U.S. energy sector by following the Solactive United States Energy Regulated Capped Index.

SoFi Launches Web3 ETF

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Personal finance provider SoFi Technologies Inc. has announced the launch of a new ETF looking to offer exposure to the growing Web3 service. The SoFi Web 3 ETF (TWEB) listed earlier this week on the Nasdaq with a 0.59% expense ratio. TWEB looks to gain exposure to the up and coming Web3 services for internet websites and applications focusing on four key terms, non fungible tokens, blockchain technology, AI, and the metaverse.