Wall Street Enters Bear Market: ETFs That Are Near 52-Week High

Wall Street’s record bull run ended on Mar 12 as all three key U.S. equity gauges — the S&P 500, the Dow Jones and the Nasdaq Composite — entered bear market territory. The three indexes lost about 9.5%, 10% and 9.4% on Mar 12, respectively, despite the Fed’s around $ the United Kingdom ) to contain the spread of the virus, dealing a major blow to global trade.

Investors should also note that the Dow Jones recorded the steepest single-day slump on Mar 12 was the fastest on record for the S&P and Nasdaq,” as indicated by the Dow Jones Market Data Group.

With people on quarantine and activities slowly coming to a halt, recession fears are tightening its grip on markets. Oil prices too have been on a freefall, with United States Oil Fund (NYSE:USO) LP USO losing 39.5% in the past month (as of Mar 13). United States Brent Oil Fund LP (ASX:BNO) was down 41% in the same time period.

Against this backdrop, below we highlight a few ETFs that touched a 52-week high on Mar 12.

ProShares VIX Short-Term Futures ETF VIXY

The underlying S&P 500 VIX Short-Term Futures Index measures the movements of a combination of VIX futures and is designed to track changes in the expectation for one month in the future. It charges 85 bps in fees.The product hit a 52-week high on Mar 12 and is up about 269% from its 52-week low price of $10.80/share (read: Volatility ETFs Jump as COVID-19 Spreads ).

Direxion S&P 500 Bear 1X SPDN

The underlying Direxion Daily S&P 500 Bear 1X Shares seeks daily investment results of 100% of the inverse (or opposite) of the performance of the S&P 500 Index.The product is up about 34.9% from its 52-week low price of $23.25/share (read: Shorting the S&P 500 with ETFs: What You Should Know ).

AdvisorShares Dorsey Wright Short ETF DWSH

This ETF is actively-managed and does not track a benchmark. It has a high expense ratio of 3.07%. It is up about 83.1% from its 52-week low price of $22.44/share (read: Don't Fear the Bear: 5 ETFs to Bet on ).

Cambria Tail Risk ETF TAIL

This is also an actively-managed ETF. Its strategy offers the potential advantage of buying more puts when volatility is low and fewer puts when volatility is high . It charges 59 bps in fees. The fund has gained 30% from its 52-week low price.

AGFiQ US Market Neutral Momentum Fund MOM

The underlying Dow Jones U.S. Thematic Market Neutral Momentum Index is a long/short market neutral index that is dollar-neutral. It has a high expense ratio of 2.62%. It is up 31.2% from its 52-week low price. However, the fund has a small asset base of $1.4 million (read: Long-Short ETF (BTAL) Hits New 52-Week High ).

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1-3 Month T-Bill Barclays (LON:BARC) Capital SPDR (BO:BIL)

The underlying Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index includes all publicly issued zero-coupon U.S. Treasury Bills that have a remaining maturity of less than 3 months and more than 1 month, are rated investment grade. It charges about 14 bps in fees. The fund is up 0.3% from its 52-week low price of $91.40/share.

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