ETFs on the radar as big tech gears up for earnings
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Netflix (NFLX) was the first of the FAANG names to report its financial results during this earnings cycle. Now, the Core Four are on deck, putting a handful of exchange traded funds on the radar for potential price swings.
Earnings are due out next week from Alphabet (GOOG) (GOOGL), Meta Platforms (FB), Apple (AAPL) and Amazon (AMZN). Listed below are the top three ETFs that have the largest weightings towards each of those stocks:
Alphabet: GOOGâs three largest portfolio holdings are the Fidelity MSCI Communication Services Index ETF (FCOM) at 23.65%, iShares Global Comm Services ETF (IXP) at 23.60%, and the Vanguard Communication Services ETF (VOX) weighted at 22.98%.
YTD price action: GOOG -12.2%, FCOM -18.8%, IXP -15.7%, and VOX -18.6%.
Meta Platforms: Mark Zuckerbergâs FB finds itself most heavily weighted within the Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) at 19.22%, followed by the Fidelity MSCI Communication Services Index ETF (FCOM) at 13.53%. The third place on the list of FB weightings goes to the Vanguard Communication Services ETF (VOX) at 13.33%.
YTD price action: FB -43.5%, XLC -18.8%, FCOM -18.8%, and VOX -18.6%.
Apple: AAPL, the best performing stock of the four in 2022, has the Technology Select Sector SPDR Fund (NYSEARCA:XLK) as its top ETF supporter. XLK has a 23.28% position in Apple. At the same time, Fidelity MSCI Information Technology Index ETF (FTEC) and Vanguard Information Technology ETF (NYSEARCA:VGT) have 23.18% and 22.77% weightings in AAPL, respectively.
YTD price action: AAPL -6.4%, XLK -14.3%, FTEC -15.1%, and VGT -15%.
Amazon: The last of the four to report is AMZN. The online retailer is most heavily weighted inside of the ProShares Online Retail ETF (ONLN), Consumer Discretionary Select Sector SPDR Fund (NYSEARCA:XLY) and Vanguard Consumer Discretionary ETF (VCR). The AMZN weightings for the funds sit at 24.85%, 22.39%, and 22.28%, respectively.
YTD price action: AMZN -11%, ONLN -27.8%, XLY -12.8%, and VCR -13.4%.
Of all the ETFs, FCOM and VOX are two funds that may be particularly interesting to watch, as they have heavy weightings for both Alphabet and Meta Platforms. Between the two funds, FCOM has a 37.18% combined weighting and VOX has a combined 36.31% weighting for those two stocks.
Below is a breakdown of Alphabet, Meta Platforms, Apple, and Amazon's filing information:

Another group of funds investors may want to keep an eye on is MicroSectorsâ (FNGS), (FNGO) and (FNGU), which are single, double, and triple leveraged ETNs that are each constructed of the same portfolio of a condensed equally weighted ten stock make-up.
Alphabet, Meta Platforms, Apple, and Amazon, all hold an equal 10% weighting in the three funds, equating to a 40% block thatâs tied not only to a traditional fund but also to a double and triple leveraged fund.
The recent post-earnings plunge in Netflix sent FNGS, FNGO, and FNGU down sharply lower this week.