NVIDIA, Meta And 2023’s Best-Performing ETFs

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Single-stock ETFs, which made their debut in the US last year, can be used to make supercharged bets on or against popular stocks. However, investors should remember that these products are not meant for buy-and-hold investing. They should be used only as short-term trading vehicles by investors who closely monitor their portfolios daily.The GraniteShares 1.5X Long NVDA Daily ETF (NVDL – Free Report) has gained about 355% so far this year, while NVIDIA (NVDA – Free Report) has seen a 215% gain amid the artificial intelligence frenzy. It is the top-performing ETF so far this year.The GraniteShares 1.5x Long Meta Daily ETF (FBL – Free Report), which provides leveraged exposure to Meta Platforms (META), has rallied 250% year-to-date.The Direxion Daily TSLA Bull 1.5X Shares (TSLL – Free Report), which focuses on Tesla (TSLA – Free Report), became the first single-stock ETF to top $1 billion in AUM earlier this year, although it has seen some outflows in recent weeks.Other products in the space including those tied to the most popular stocks like Apple (AAPL – Free Report) and Microsoft (MSFT) haven’t seen much interest from investors.We discuss how these products should be used.In October, gold jumped 8%, marking its strongest monthly performance since March when it benefited from the banking crisis. More recently, the precious metal has risen due to heightened concerns about a broader conflict in the Middle East.The war has raised questions about crude supply from the oil-rich Middle East. Oil prices spiked after the war but fell last week on hopes that the conflict can be contained. They are rebounding today after Saudi Arabia and Russia announced extension of their production cuts.We discuss the role of gold and other commodities in a portfolio.Running Length: 00:35:29More By This Author:Target Date ETFs For Retirement InvestorsMunicipal Bond ETFs: What Investors Need To KnowWhy Investors Are Pouring Billions Into Cash-Like ETFs


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