ETF Winners and Losers after Brexit Vote
With the U.K. voting to leave the European Union, financial markets are still in turmoil Monday. Not surprisingly, markets have seen panic-induced sell-offs as investors run steadfastly to safe havens. All risky assets are highly volatile at the moment, but there are some ETFs that look to be benefiting and losing more than others.
iPath S&P 500 VIX ST Futures ETN (VXX)
The broader market will nosedive in the short-term, which means volatility ETFs will benefit in the coming trading sessions. VXX was up 24.3% in pre-market on Friday.
SPDR Gold Shares (GLD)
Gold, another safe haven, will also soar in the short-term after Brexit. GLD added 4.9% in pre-market on Friday.
iShares 20+ Year Treasury Bond (TLT)
TLT gained 3.2% in Friday’s pre-market as investors lost their appetite for risk.
CurrencyShares Japanese Yen ETF (FXY)
The safe-haven yen is still riding fresh highs after the Brexit vote.
CurrencyShares British Pound Sterling ETF (FXB)
The pound took a beating after the referendum results were announced. FXB tumbled 6.5% in pre-market on Friday, and was still down 2.99% Monday morning.
iShares MSCI United Kingdom (EWU)
U.K. stocks will naturally take a hit and will continue to face pressure in the short-term. EWU lost more than 11.2% in pre-market Friday and was still 3.98% lower on Monday morning.
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