Airline ETFs Soar; Cannabis Funds See Boost

An airline and travel-focused ETF snatched first place for last week's top performers as the travel industry continues to boom after its post-pandemic slump.  

The U.S. Global JETS ETF (JETS) gained 5.3% over the week. The fund's performance came as shares of United Airlines Holdings, Inc (UAL) jumped 10% on Wednesday after the company announced positive earnings and revenue figures. UAL is the third largest holding in the $1.3 billion fund, after Southwest Airlines Co. (LUV) and American Airlines Group (AAL). After their Covid-19 pandemic era slump, airlines are getting their slice of their current bear market. The JETS ETF is up 12% overall year to date, according to etf.com data. 

The $75 million Themes Airline ETF (AIRL) was also in the top three performers for last week, gaining 4%. United Airlines is a holding in the fund, weighted at about 4% of the ETF.

Cannabis ETFs also topped this week's performers. The Amplify U.S. Alternative Harvest ETF (MJUS) and the AdvisorShares Pure US Cannabis ETF (MSOS) were both up about 3% over the week, according to etf.com data. The gains came as marijuana producer stocks have seen a boon from positive sentiment that cannabis federal reform may get passed. Last week's performance reflects the overall boost the industry has seen this year. The AdvisorShares ETF beat the S&P 500 in the past six months. 

10 Top ETF Weekly Performers

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges. Leveraged and inverse ETFs are excluded.