Airline ETFs Soar; Cannabis Funds See Boost
JETS saw a 5% gain after positive earnings from United Airlines Holdings, Inc.
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 $75 million Themes Airline ETF (AIRL) was also in the top three performers for last week, gaining 4%. United Airlines is a holding in the fund, weighted at about 4% of the ETF.
Cannabis ETFs also topped this week's performers. The Amplify U.S. Alternative Harvest ETF (MJUS) and the AdvisorShares Pure US Cannabis ETF (MSOS) were both up about 3% over the week, according to etf.com data. The gains came as marijuana producer stocks have seen a boon from positive sentiment that cannabis federal reform may get passed. Last week's performance reflects the overall boost the industry has seen this year. The AdvisorShares ETF beat the S&P 500 in the past six months.
10 Top ETF Weekly Performers
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| 5.31% | 17,455,066 | 1,289.91 | ||
| 4.79% | 792,347 | 75.68 | ||
| 3.89% | 2,501 | 0.51 | ||
| 2.94% | 62,848 | 116.75 | ||
| 2.89% | 38,715,843 | 1,064.50 | ||
| 2.11% | 59,064 | 13.19 | ||
| 2.11% | 171,164 | 120.91 | ||
| 2.03% | 345,043 | 798.91 | ||
| 2.02% | 26,018 | 28.48 | ||
| 1.98% | 33,297,268 | 845.49 |
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.
