Amazon ( AMZN ) jumped 12% in Friday's early trading, thanks to a well-received earnings report, driving gains in four exchange traded funds that focus on the consumer discretionary and online retail marketplace.
The ProShares Online Retail ETF ( NYSEARCA: ONLN ), Fidelity MSCI Consumer Discretionary Index ETF ( NYSEARCA: FDIS ),Vanguard Consumer Discretionary ETF ( NYSEARCA: VCR ), and the Consumer Discretionary Select Sector SPDR Fund ( NYSEARCA: XLY ) have the four largest portfolio weightings in the e-commerce tech giant.
ONLN has 25.83% of its net assets dedicated towards AMZN and leads all other ETFs on the market. Next in line are FDIS, VCR, and XLY, which have positions in Amazon at 23.19%, 23.11%, and 22.75% respectively.
Given these heavy AMZN concentrations, this quartet of funds has experienced an uptick in price action due from the post-earnings in the online retailer. On Friday’s session ONLN finds itself higher by 2.3% . Meanwhile, FDIS is +2.7% , VCR is +2.8% , and XLY has gained 2.9% .
Looking to the year-to-date time horizon, AMZN is -19.3% , ONLN -37.6% , FDIS -23.5% , VCR -23.4% , and XLY is -23.2% .
Amazon shares have climbed in Friday's early trading after the company announced it latest quarterly results. Despite posting a net loss and light guidance for the third quarter. Investors were focused on AWS acceleration and strong top-line growth, which overshadowed a noisy bottom line.
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Amazon’s surge drives gains in consumer discretionary ETFs