Week's Best Bets: Top 5 ETFs to Consider - February 21, 2024

It's hard to believe, but at the beginning of 2023 there was a lot of trepidation about rising interest rates, inflationary pressures and potential economic slowdowns both at home and abroad. But when all was said and done, the S&P 500 tacked on an impressive 24% last year.

If you're looking to cash in on this bull market, the following five ETFs all offer interesting ways to play this potential uptrend as we charge ahead into 2024:

1.CONL ETF · GraniteShares 2x Long COIN Daily ETF

The CONL ETF has risen 71.87% in the past month as of February 20th.

The CONL Exchange Traded Fund (ETF) is provided by GraniteShares. It is built to track an index: Coinbase. This ETF provides synthetic exposure, by owning its shares you earn the return of the index indirectly through the use of derivatives or a swap (i.e. a contract with a financial institution which delivers the return of the index). This share class generates a stream of income by distributing dividends.

2.BITX ETF · Volatility Shares 2x Bitcoin Strategy ETF

The BITX ETF has risen by 47.26% in the past month as of February 20th.

The BITX Exchange Traded Fund (ETF) is provided by Volatility Shares. It is built to track an index: S&P CME Bitcoin Futures Daily Roll Index. This share class generates a stream of income by distributing dividends.

3.FBL ETF · GraniteShares 2x Long META Daily ETF

The FBL ETF has risen 40.43% in the past month as of February 20th.

The FBL Exchange Traded Fund (ETF) is provided by GraniteShares. It is built to track an index: Meta. This ETF provides synthetic exposure, by owning its shares you earn the return of the index indirectly of the index). This share class generates a stream of income by distributing dividends. through the use of derivatives or a swap (i.e. a contract with a financial institution which delivers the return of the index). This share class generates a stream of income by distributing dividends.

4.WGMI ETF · Valkyrie Bitcoin Miners ETF

The WGMI ETF has risen 39.6% in the past month as of February 20th.

The WGMI Exchange Traded Fund (ETF) is provided by Valkyrie. This fund is actively managed; it does not track an index. This share class generates a stream of income by distributing dividends.

5.NVDX ETF · T-Rex 2X Long NVIDIA Daily Target ETF

The NVDX ETF has risen 25.77% in the past month as of February 20th.

The NVDX Exchange Traded Fund (ETF) is provided by Tuttle Capital Management. It is built to track an index: NVIDIA. This ETF provides synthetic exposure, by owning its shares you earn the return of the index indirectly through the use of derivatives or a swap (i.e. a contract with a financial institution which delivers the return of the index). This share class generates a stream of income by distributing dividends.

ETF Advantages

Diversification: ETFs offer investors instant diversification, whether across the broad market, asset classes, market sectors, or specific industries.

Accessibility and flexibility: Because ETFs trade like stocks, you can buy and sell them anytime during a trading session. In addition, you can short-sell them and buy them on margin.

Financial Industry Regulatory Authority. Exchange-Traded Funds and Products: Overview.

Low fees: The expense ratios of most ETFs are lower than that of the average mutual fund. The average expense ratio for an index ETF was 0.16% in 2022. As of 2024, the SPDR S&P 500 ETF (SPY) had an expense ratio of 0.0945%.

Liquidity: Popular ETFs normally are highly liquid. This means they can be sold easily, and at a narrow bid-ask spread.

Tax efficiency: Due to their passive management, ETFs usually have fewer capital gains, which means investors may pay less in taxes. In addition, in-kind (as opposed to cash) exchanges for an ETF's securities also result in less capital gains.