US Information Technology ETFs See Positive Performance, Driven by Tech Giants

On June 27, 2023, the US Information Technology ETF market experienced notable gains, primarily driven by key technology companies.

The US Information Technology ETF market exhibited a noteworthy upward trend on June 27, 2023, with a performance of 1.60%. This market, valued at approximately 7 Bn EUR and consisting of 7 ETFs, experienced a positive movement led by several key ETFs. The FinEx MSCI USA Information Technology UCITS ETF (FXIT) demonstrated a daily return of 1.73%, while the SPDR S&P U.S. Technology Select Sector UCITS ETF (SXLK) recorded a daily return of 2.05%. Additionally, the CSIF (IE) MSCI USA Tech 125 ESG Universal Blue UCITS ETF (USTEC) showcased a daily return of 1.49%, and the iShares S&P 500 Information Technology Sector UCITS ETF (IUIT) experienced a 2.07% daily return.

The outstanding performance of the US Information Technology ETF market can be attributed to the driving forces behind its leading companies. APPLIED MATERIAL ORD (AMAT) exhibited a remarkable daily return of 4.83% and a robust 5.80% return over the course of one week. TEXAS INSTRUMENTS ORD (TXN) also contributed significantly with a daily return of 4.48% and a one-week return of 1.12%. Moreover, BROADCOM LIMITED ORD (AVGO) demonstrated a daily return of 3.26%, while ANALOG DEVICES ORD (ADI) showcased a daily return of 3.24% and a one-week return of 2.34%. These prominent companies drove the positive movement within the US Information Technology ETF market, bolstering its overall performance.

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