Heightened geopolitical tensions and cybersecurity concerns may be propelling ETFs in those those areas toward potential 'breakouts.”
Heightened geopolitical tensions and cybersecurity concerns may be propelling exchange-traded funds that invest in stocks linked to those areas toward potential “breakouts,” according to Renaissance Macro Research.
Shares of the First Trust Nasdaq Cybersecurity ETF CIBR have jumped 9.5% this year through Thursday, while the iShares U.S. Aerospace & Defense ETF ITA climbed 4.5% over the same period, according to FactSet data. Meanwhile, investors have been monitoring the Russia-Ukraine war as well as tensions between China and the U.S. China has said it’s “ready to fight” after completing combat exercises around Taiwan in response to the Taiwanese president’s recent trip to the U.S., according to an April 10 Associated Press report.
The First Trust Nasdaq Cybersecurity ETF’s largest holdings on April 13 included Fortinet Inc. FTNT , Broadcom Inc. AVGO , Cisco Systems Inc. CSCO and Palo Alto Networks Inc. PANW , according to First Trust’s website.
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