Tiny TSLP Gained Most Last Week as Tesla Jumped

A $1.72 million ETF that launched in November and seeks to pay monthly distributions based on Tesla Inc. performance gained 19% last week to beat all funds (excluding leveraged and inverse funds) as the electric carmaker's stock advanced.

The Kurv Yield Premium Strategy Tesla TSLA ETF (TSLP) was launched in late October and has mostly been a laggard this year, losing 26% of its value, including last week's gain. The complex fund, which charges a 0.99% fee, aims to "provide current income and capped gains on the Tesla stock (TSLA) through a synthetic covered call strategy," according to its etf.com fund page. Its issuer acknowledges the fund "may not be suitable for all investors."

The No. 2 best performer, the $1.4 billion SPDR S&P Semiconductor ETF (XSD), rose 6.8% as investors jumped back into tech and semiconductor stocks that have been beaten down lately after surging 21% over the past year.

Both funds topped the 2.1% gain in the broad SPDR S&P 500 ETF Trust (SPY). 

Inflows, Outflows

Meanwhile, inflows last week were led by the iShares MBS ETF (MBB), which pulled in $1.26 billion as investors fled volatility in favor of income from a fund that tracks an index that includes fixed and floating rate securities issued by GNMA, FNMA and FHLMC.

The SPDR Portfolio Short Term Treasury ETF (SPTS) topped outflows, as $1.23 billion was pulled from the fund that SPTS tracks a weighted index of US Treasurys with remaining maturities of 1-to-3 years.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

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.