Despite airline stocks trailing the broader market for most of 2019 due to Boeing’s grounding of the 737 MAX aircraft, two major carriers reported second-quarter earnings that boosted investor sentiment. United Airlines’ second-quarter profits soared more than 50 percent from a year ago on strong travel demand, reports Investopedia. Delta Airlines reported earnings that soared 32 percent year-over-year and raised its 2019 profit outlook, also citing growing demand.
These results were especially good news for the U.S. Global Jets ETF (JETS) – the only ETF focused on the airline industry. JETS broke above its 50-day and 200-day moving averages, and tested 52-week highs on July 15.
Both United and Delta are in the top four holdings of JETS, 12.61 percent and 12.84 percent respectively, as of August 5. Learn more about the fund and its other holdings by clicking here.
Past performance does not guarantee future results. Please click here for standardized performance.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. The expense ratio is 0.60%.
View JETS top 10 holdings by clicking here.
U.S. Global Investors has authored and is responsible for the summary on this page. All opinions expressed and data provided are subject to change without notice. Opinions are not guaranteed and should not be considered investment advice.