- Though hardly a stellar performance, global X FinTech Thematic ETF (NASDAQ:FINX) edged up 0.5% during the year and ETFMG Prime Mobile Payments ETF (NYSEARCA:IPAY) -0.1% in the past year, both outperforming the SPDR S&P 500 ETF (NYSEARCA:SPY), which fell 5.4% in the past year.
- The two fintech ETFs look even better when compared with the financial sector overall. The Financial Select Sector SPDR ETF (NYSEARCA:XLF) fell 14% in the past year.
- Among individual fintech names, Square (NYSE:SQ) stood out as the most impressive gainer, surging 61% during the year. Others that climbed during the year--Intuit (NASDAQ:INTU) +24%, PayPal (NASDAQ:PYPL) +13%, Fiserv (NASDAQ:FISV) +11%.
- The big difference between FINX and IPAY is that IPAY holds big credit card companies--American Express (NYSE:AXP), Mastercard (NYSE:MA), Visa (NYSE:V), and Discover Financial (NYSE:DFS), some of which weighed down the ETF.
- DFS fell 24% during the year and AXP slid 4.9%, while MA rose 23% and V increased 15%.
- Meanwhile, FINX focuses more on the tech part of fintech, including Intuit , SS&C Technologies (NASDAQ:SSNC) +11%, and Guidewire Software (NYSE:GWRE) +6.9%.
- Previously: Payment stocks with `recession resistance' may outperform in 2019: RBC (Dec. 18)
- Now read: Crash Protection Limits The Damage For Square Longs
Original article