VCAR - Nvidia has surged 80%+ so far this year taking these ETFs higher

2023-03-29 13:38:28 ET

Of the U.S.-listed companies with market caps of more than $500B, shares of Nvidia ( NASDAQ: NVDA ) have had the most pronounced rally so far in 2023. This advance had fed gains in exchange traded funds tied to the semiconductor giant.

The chipmaker has exploded for an advance of more than 80% in Q1 so far. Meanwhile, the five exchange traded funds that have the largest weighting towards the semiconductor giant have all found themselves higher by at least 15% over the same time period.

Nvidia ( NVDA ) is owned by 388 different exchange traded funds, with 111 being actively managed and another 43 being ESG focused. Below are the five exchange traded funds that have the heaviest weightings towards Nvidia:

• ProShares Ultra Semiconductors ( NYSEARCA: USD ) at 20.33%.
• VanEck Semiconductor ETF ( NASDAQ: SMH ) at 13.59%.
• AXS Esoterica NextG Economy ETF ( WUGI ) at 13.42%.
• Spear Alpha ETF ( SPRX ) at 12.59%.
• Simplify Volt RoboCar Disruption and Tech ETF ( VCAR ) at 12.28%.

Year-to-date performance: NVDA +84.5% , USD +61.8% , SMH +24.1% , WUGI +16.4% , SPRX +19.4% , and VCAR +26.5% .

Outside of these top holders, other broad-based semiconductor funds that have large positions inside of NVDIA have also marched higher in 2023. This includes the iShares Semiconductor ETF ( SOXX ), which has gained 25% , and the leveraged Direxion Daily Semiconductor Bull 3X Shares ( NYSEARCA: SOXL ), which has climbed higher by 67% .

Looking at the broader picture, this chart shows how NVDA and the top five holding funds have fared against each other over the course of a longer one-year trading period.

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