Tiny TSLP Gained Most Last Week as Tesla Jumped

Tiny TSLP Gained Most Last Week as Tesla Jumped

The fund that pays a monthly distribution based on Tesla performance gained 19% last week. Leveraged funds excluded from results.

RonDay
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Managing Editor
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Reviewed by: James Rubin
,
Edited by: etf.com Staff

A $1.72 million ETF that launched in November and seeks to pay monthly distributions based on Tesla Inc. performance gained 19% last week to beat all funds (excluding leveraged and inverse funds) as the electric carmaker's stock advanced.

The Kurv Yield Premium Strategy Tesla TSLA ETF (TSLP) was launched in late October and has mostly been a laggard this year, losing 26% of its value, including last week's gain. The complex fund, which charges a 0.99% fee, aims to "provide current income and capped gains on the Tesla stock (TSLA) through a synthetic covered call strategy," according to its etf.com fund page. Its issuer acknowledges the fund "may not be suitable for all investors."

The No. 2 best performer, the $1.4 billion SPDR S&P Semiconductor ETF (XSD), rose 6.8% as investors jumped back into tech and semiconductor stocks that have been beaten down lately after surging 21% over the past year.

Both funds topped the 2.1% gain in the broad SPDR S&P 500 ETF Trust (SPY)

Inflows, Outflows

Meanwhile, inflows last week were led by the iShares MBS ETF (MBB), which pulled in $1.26 billion as investors fled volatility in favor of income from a fund that tracks an index that includes fixed and floating rate securities issued by GNMA, FNMA and FHLMC.

The SPDR Portfolio Short Term Treasury ETF (SPTS) topped outflows, as $1.23 billion was pulled from the fund that SPTS tracks a weighted index of US Treasurys with remaining maturities of 1-to-3 years.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
TSLPKurv Yield Premium Strategy Tesla TSLA ETF19.17%32,9261.72
XSDSPDR S&P Semiconductor ETF6.78%148,0731,396.14
RINGiShares MSCI Global Gold Miners ETF6.11%662,119483.57
SLVPiShares MSCI Global Silver and Metals Miners ETF5.79%1,459,879221.22
PFIXSimplify Interest Rate Hedge ETF5.53%268,542167.85
GDXVanEck Gold Miners ETF5.53%123,036,46813,776.85
SEMIColumbia Seligman Semiconductor and Technology ETF5.52%55,80136.05
KWEBKraneShares CSI China Internet ETF5.46%88,786,3215,531.66
TSLHInnovator Hedged TSLA Strategy ETF5.42%1,0580.92
FTXLFirst Trust Nasdaq Semiconductor ETF5.37%310,6991,367.23



 

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Ron Day is Managing Editor at etf.com. He joined the company in October 2022 and previously served as editor and deputy managing editor.

Ron covered business and financial news at Bloomberg News for 20 years, working on the breaking news, technology, commodities, headlines and First Word teams. He was previously senior editor at ESG news outlet Karma Impact and filled the same role at Boundless Impact. He also covered a variety of beats at New Jersey daily papers including the Daily Record in Parsippany, the North Jersey Herald & News and the Asbury Park Press. Ron's freelance work has been published in AARP.com, Investopedia.com and BigThink.com.

Ron is an advocate and fan of literacy. He hopes to one day master his Telecaster, rather than the other way around. His wonderful family includes a 10-lb. malti-poo named Emmy.