5 Best Performing ETFs in 2023

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In this article, we discuss 5 best performing ETFs in 2023. If you want to read our detailed discussion on the stock market and the performance of ETFs, head over to 10 Best Performing ETFs in 2023

5. Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)

YTD Share Price Performance as of August 24: 158.99%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is an actively managed ETF that  focuses on investing in companies operating within the bitcoin mining sector. Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was established on February 7, 2022. Its net assets presently amount to $16.2 million, and the ETF features an expense ratio of 0.75%. Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is one of the best performing ETFs in 2023. 

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)’s largest holding is Advanced Micro Devices, Inc. (NASDAQ:AMD), a California-based semiconductor company that operates through four segments – Data Center, Client, Gaming, and Embedded. On August 1, Advanced Micro Devices, Inc. (NASDAQ:AMD) reported a Q2 non-GAAP EPS of $0.58 and a revenue of $5.36 billion, outperforming Wall Street estimates by $0.01 and $40 million, respectively. 

According to Insider Monkey’s second quarter database, Advanced Micro Devices, Inc. (NASDAQ:AMD) was part of 112 hedge fund portfolios, up from 91 in the prior quarter. Philippe Laffont’s Coatue Management is a prominent stakeholder of the company, with approximately 14 million shares worth $1.6 billion. 

L1 Capital International Fund made the following comment about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its second quarter 2023 investor letter:

“During the June 2023 quarter the AI bubble continued to inflate. Advanced Micro Devices, Inc. (NASDAQ:AMD), as a key challenger to Nvidia, will benefit from increased demand for its next generation semiconductor chips. AMD’s share price is reflecting very bullish sentiment and the share price has run ahead of a reasonable base case valuation. Accordingly, we divested our entire position and moved AMD to our Bench.”

Follow Advanced Micro Devices Inc (NASDAQ:AMD)

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