Amazon’s surge drives gains in consumer discretionary ETFs
georgeclerk

Amazon (AMZN) jumped 12% in Friday's early trading, thanks to a well-received earnings report, driving gains in four exchange traded funds that focus on the consumer discretionary and online retail marketplace.
The ProShares Online Retail ETF (NYSEARCA:ONLN), Fidelity MSCI Consumer Discretionary Index ETF (NYSEARCA:FDIS),Vanguard Consumer Discretionary ETF (NYSEARCA:VCR), and the Consumer Discretionary Select Sector SPDR Fund (NYSEARCA:XLY) have the four largest portfolio weightings in the e-commerce tech giant.
ONLN has 25.83% of its net assets dedicated towards AMZN and leads all other ETFs on the market. Next in line are FDIS, VCR, and XLY, which have positions in Amazon at 23.19%, 23.11%, and 22.75% respectively.
Given these heavy AMZN concentrations, this quartet of funds has experienced an uptick in price action due from the post-earnings in the online retailer. On Fridayâs session ONLN finds itself higher by 2.3%. Meanwhile, FDIS is +2.7%, VCR is +2.8%, and XLY has gained 2.9%.
Looking to the year-to-date time horizon, AMZN is -19.3%, ONLN -37.6%, FDIS -23.5%, VCR -23.4%, and XLY is -23.2%.
Amazon shares have climbed in Friday's early trading after the company announced it latest quarterly results. Despite posting a net loss and light guidance for the third quarter. Investors were focused on AWS acceleration and strong top-line growth, which overshadowed a noisy bottom line.