3 top ASX ETFs hitting new 52-week highs on Friday

Three rockets heading to space

Three rockets heading to space

It’s looking like the S&P/ASX 200 Index (ASX: XJO) and ASX shares are on track to end the trading week on a positive note so far this Friday.

At the time of writing, the ASX 200 has gained a rosy 0.45%, pulling the index back above 7,320 points. But some exchange-traded funds (ETFs) on the ASX today are doing even better than that.

In fact, three top ASX ETFs have just hit new 52-week highs today. Let’s discuss.

It’s Friyay for these 3 ASX ETFs at new 52-week highs

First up, we have the Vanguard MSCI Index International Shares ETF (ASX: VGS). This comprehensive ETF from Vanguard has climbed more than 1% today and is currently trading at $101.60 a unit. But earlier this morning, this ETF touched a new high of $101.85 a unit. Not only is that a new 52-week high, but the highest VGS units have traded at since February 2022.

Then we have the iShares S&P 500 ETF (ASX: IVV). The S&P 500 Index is the flagship index covering the US share market. The iShares S&P 500 ETF is also climbing today, currently up by 1.32% at $41.52 a unit. Earlier this morning, we saw this fund climb to a new 52-week high of $41.55. Again, we’d have to go back to early 2022 to find the last time this ASX ETF was at these kinds of levels.

Finally, we have the BetaShares NASDAQ 100 ETF (ASX: NDQ). Another US-focused ETF, this NASDAQ-tracking fund has lifted by 1.66% at present to $30.65 a unit. But NDQ units were slightly above this price earlier today, hitting a new 52-week high of $30.66 a unit this morning.

So all of these ETFs are having a top end to the trading week so far. But what do they all have in common? It can’t just be a coincidence that three ASX ETFs all hit new 52-week highs on the same day.

US tech stocks drive new highs

Well, these three ETFs all share one important trait – they are dominated by the US’s largest tech companies.

Looking at the Vanguard International Shares ETF, its current largest three holdings are Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT) and Amazon.com Inc (NASDAQ: AMZN).

These three largest holdings are exactly mirrored (albeit with slightly different weightings) in the iShares S&P 500 ETF. In the BetaShares NASDAQ 100 ETF’s case, Apple and Microsoft’s positions have been swapped, but the song remains the same.

Each of these ETFs also features NVIDIA Corporation (NASDAQ: NVDA), Meta Platforms Inc (NASDAQ: META) and Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL) at the top of their respective holdings too.

Over on the US markets last night, most of these American tech giants had a stellar time. Apple stock was up a healthy 2.84%, while Microsoft rose by 3.2%. Amazon shares were up by 4.61%, while Meta (the owner of Facebook and Instagram) rocketed a whopping 13.93% and hit a new 52-week high of US$241.68. A well-received earnings report sparked this massive share price spike.

With these top holdings in our ETFs performing so impressively last night, it’s perhaps no surprise to see all three funds notch new 52-week highs this Friday.


The post 3 top ASX ETFs hitting new 52-week highs on Friday appeared first on The Motley Fool Australia.

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More reading

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon.com, Apple, Meta Platforms, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon.com, Apple, BetaShares Nasdaq 100 ETF, Meta Platforms, Microsoft, Nvidia, and Vanguard Msci Index International Shares ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Alphabet, Amazon.com, Apple, Meta Platforms, Nvidia, Vanguard Msci Index International Shares ETF, and iShares S&p 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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