Work-from-home ETFs rally on COVID lockdown measures

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Exchange-traded funds that track companies that enable remote work, play, education and health care outperformed Friday as investors sought safety in market segments that will benefit from economic restrictions intended to slow the spread of COVID-19. The WisdomTree Cloud Computing Fund was up 1.6% at midday, while the First Trust NASDAQ Cybersecurity ETF and the Direxion Work From Home ETF both gained 1.4%. The iShares Cybersecurity & Tech ETF added 1.3%. The broader stock market was about 0.2% lower. Market participants had recently rotated away from the work-from-home names that powered the stock-market rally though the year as drugmakers reported progress toward a vaccine and as valuations for pandemic winners became increasingly stretched. In the year to date, WCLD has gained 82%, while IHAK and CIBR are up about 26%. Another category winner, the Global X Cloud Computing ETF , has gained 59% in the year to date, but lagged on Friday, up only 1.1% for the day.
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