ETF Explainer: FINX

Fintech is a hot space for investors—see what’s driving it.

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Reviewed by: Heather Bell
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Edited by: Heather Bell
Global X FinTech ETF

Each month, we look at an ETF selected by ETF.com based on its performance and importance to investors. This month, we consider the performance of the $338 million Global X FinTech ETF (FINX), which tracks stocks representing the burgeoning financial technology industry. All the companies mentioned below are holdings in FINX, unless otherwise noted (*).

 

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MAY 2 Fiserv reports a first quarter earnings miss, and despite the company exceeding earnings expectations, its share price falls.

JUL 31 PayPal’s share price plunges in the days after announcing a third quarter forecast that undercut analyst expectations, despite exceeding second quarter earnings consensus.

OCT 10 Technology stocks have their worst day in seven years; Intuit is among the worst performers, with a decline of roughly 7%.

DEC 31 FINX marks a gain of 0.5% during 2018, outperforming both the SPDR S&P 500 ETF Trust (SPY), which fell 5.4%, and the Financial Select Sector SPDR Fund (XLF), which fell 14%.

Jan 16 Fiserv announces the purchase of First Data Corporation in a $22 billion deal, driving the price of First Data up roughly 20%.

FEB 14 SS&C Technologies beats fourth quarter analyst estimates for earnings by $0.10. Revenue for the quarter also beat consensus expectations.

Source: Bloomberg. Data for 03/29/2018 to 03/29/2019.

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.