AMD - Auto ETFs may offer relatively cheap play on booming consumer

Major headwinds range from a pandemic to high unemployment. But the surprising resiliency of the consumer continues to be a driving force for markets.New data on Tuesday pointed again to the surprising strength of the consumer. Despite major market turmoil, consumer confidence registered its largest gain in 17 years. And those consumers continue to spend on big ticket items like homes, as home prices came in ahead of expectations in July.The continued boom in consumer spending has pushed major ETFs like the Consumer Discretionary Select SPDR ETF (XLY) and SPDR Homebuilders ETF (XHB) to near record levels.But strong consumer spending has also boosted lesser known ETFs in the auto sector like the First Trust NASDAQ Global Auto Index Fund (CARZ) and KraneShares Electric Vehicles and Future Mobility Index ETF (KARS).  And these ETFs, meanwhile, offer more attractive valuations than the XLY or XHB.Both CARZ and KARS have delivered performance far

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Auto ETFs may offer relatively cheap play on booming consumer