Worst performing ETFs this week: Technology ETFs

Worried investors activate risk-off mode, sending technology ETFs to our weekly worst ETFs list.

Technology ETFs slump on risk-off mode activation

US Technology shares were sold off last week on rising bond yields and weak consumer confidence data amid inflation concerns. Rising bond rates came after the Federal Reserve signalled it will soon begin tapering, without giving an exact date.

Technology and other high-growth ETFs were dragged down with Simplify Volt Cloud and Cybersecurity Disruption ETF, Franklin Genomic Advancements ETF and Innovator IBD 50 ETF losing -9.40%, -8.75% and -8.51% respectively.

Their underlying holdings are particularly sensitive to rising interest rate expectations as their value rests heavily on future earnings, which are discounted more deeply when rates go up.

European technology shares followed their Wall Street peers to the red zone with SPDR MSCI Europe Technology UCITS ETF, iShares MSCI Europe Information Technology Sector UCITS ETF and iShares STOXX Europe 600 Technology UCITS ETF losing more than 9% each.

Honorable mentions: Shipping ETFs

SonicShares Global Shipping ETF was in the loser zone last week, dragged down by some of its ailing top holdings Mitsui O.S.K. Lines (7.47%), Kawasaki Kisen Kai (6.77%), who lost more than 25% each.

The ETF invests in global shipping companies engaged in the maritime transportation of goods and raw materials, including consumer and industrial products, vehicles, dry bulk, crude oil and liquefied natural gas. Read more on Shipping ETFs.

Bottom 10 ETFs of the week:

Europe

• Xtrackers Physical Rhodium ETC: -10.55%
• SPDR MSCI Europe Technology UCITS ETF: -9.50%
• iShares MSCI Europe Information Technology Sector UCITS ETF: -9.41%
• iShares STOXX Europe 600 Technology UCITS ETF: -9.21%
• Lyxor STOXX Europe 600 Technology UCITS ETF: -9.20%
• Xtrackers MSCI Europe Information Technology ESG Screened UCITS ETF: -9.12%
• WisdomTree Nickel: -8.41%
• Deka STOXX Europe Strong Growth 20 UCITS ETF: -8.03%
• Invesco STOXX Europe 600 Optimised Technology UCITS ETF: -7.80%

Americas

• Simplify Volt Cloud and Cybersecurity Disruption ETF: -9.40%
• Franklin Genomic Advancements ETF: -8.75%
• MomentumShares International Quantitative Momentum ETF: -8.63%
• Innovator IBD 50 ETF: -8.51%
• VanEck Vectors Biotech ETF: -8.27%
• SonicShares Global Shipping ETF: -8.17%
• Simplify Volt Fintech Disruption ETF: -7.71%
• The De-SPAC ETF: -7.39%
• Invesco DWA Developed Markets Momentum ETF: -7.19%
• iShares Genomics Immunology and Healthcare ETF: -7.06%

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