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Fintech ETFs outperform the S&P in 2018

Published 12/31/2018, 10:32 AM
© Reuters.  Fintech ETFs outperform the S&P in 2018
SPY
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FI
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INTU
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MA
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AXP
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DFS
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V
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SSNC
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GWRE
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XLF
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PYPL
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IPAY
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SQ
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FINX
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  • 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


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