Reuters / Brendan McDermid
- The best-performing exchange-traded products in 2018 included funds geared toward shorting stocks, going long volatility, and fighting cyber crime.
- Investors who were positioned for higher volatility were rewarded. The top performer, the exchange-traded note (ETN) VXX, exposes investors to futures contracts on the Cboe Volatility Index (VIX), which reflects implied volatility in the S&P 500.
- Business Insider compiled the 11 best-performing exchange-traded products (which include ETFs and ETNs, like the VXX) with at least $500 million of assets under management.
Even as the market plunged this year, some passive investors were rewarded.
The best-performing US-listed large exchange-traded products included those exposed to going long the US dollar, health care stocks, and volatility, in addition to shorting US stocks. One of the best performers, too, was a fund with exposure to companies focused on providing cybersecurity as a service.
The major US averages were all down meaningfully from their respective record highs hit earlier this year, with the S&P 500 (-18%), Dow Jones Industrial Average (-17%), and Nasdaq Composite (-21%) all in, or near, bear-market territory.
Globally, investors have poured nearly $338 billion into exchange-traded funds in 2018 through the end of last week, Bank of America Merrill Lynch told clients in a report.
Here are the top-performing vehicles, ranked by their 2018 returns through Thursday morning.
ETFMG Prime Cyber Security ETF
Markets Insider
Ticker: HACK
Assets under management: $1.4 billion
2018 return: +5.25%
2018 investments in the fund: +$253 million
Data provided by Bloomberg.
ProShares Short S&P 500
Markets Insider
Ticker: SH
Assets under management: $2.1 billion
2018 return: +7%
2018 investments in the fund: +$641 million
Data provided by Bloomberg.
ProShares UltraShort 20+ Year Treasury
Markets Insider
Ticker: TBT
Assets under management: $1.2 billion
2018 return: +7.5%
2018 investments in the fund: -$946 million
Data provided by Bloomberg.
Invesco S&P SmallCap Health Care ETF
Markets Insider
Ticker: PSCH
Assets under management: $850 million
2018 return: +8%
2018 investments in the fund: +$704 million
Data provided by Bloomberg.
Invesco DB US Dollar Bullish Fund
Markets Insider
Ticker: UUP
Assets under management: $519 million
2018 return: +8%
2018 investments in the fund: -$61 million
Data provided by Bloomberg.
iShares US Healthcare Providers ETF
Markets Insider
Ticker: IHF
Assets under management: $890 million
2018 return: +8.3%
2018 investments in the fund: +$460 million
Data provided by Bloomberg.
ProShares UltraShort S&P 500
Markets Insider
Ticker: SDS
Assets under management: $962 million
2018 return: +10%
2018 investments in the fund: -$127 million
Data provided by Bloomberg.
iShares North American Tech-Software ETF
Markets Insider
Ticker: IGV
Assets under management: $1.7 billion
2018 return: +10%
2018 investments in the fund: $557 million
Data provided by Bloomberg.
iShares US Medical Devices ETF
Markets Insider
Ticker: IHI
Assets under management: $2.6 billion
2018 return: +12%
2018 investments in the fund: $984 million
Data provided by Bloomberg.
VelocityShares Daily 2x VIX Short-Term ETN
Bloomberg
Ticker: TVIX
Assets under management: $597 million
2018 return: +27%
2018 investments in the fund: $56 million
Data provided by Bloomberg.
iPath S&P 500 VIX Short-Term Futures ETN (VXX)
Markets Insider
Ticker: VXX
Assets under management: $925 million
2018 return: +68%
2018 investments in the fund: -$931 million
Data provided by Bloomberg.
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