Bullish fund tied to Nvidia top performing ETF so far this year
© Reuters. FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoThe GraniteShares 1.5X Long NVDA Daily ETF, that tracks 1.5 times the daily percentage change of Nvidia, has gained 328.5% so far this year, while the stock has risen 190%.
This makes it the top performing ETF so far in 2023, according to VettaFi Research, followed by the GraniteShares 1.5x Long Meta Daily ETF, another leveraged ETF that has rallied 272% year-to-date."The reason why NVDL is the best performing ETF in the US market is because of the astonishing performance of the underlying company," Will Rhind, CEO and founder of GraniteShares, said.Net assets in the ETF have climbed to $205.
Single-stock ETFs that allow for increased exposure to shares have garnered a lot of interest this year, particularly among investors interested in so-called"Magnificent 7" that includes companies like Nvidia and Meta Platforms will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well.
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