‘NOPE’ got that right — it’s the worst performing ETF to start off 2023
In the first few weeks of 2023, the Nobel Absolute Return ETF (NYSEARCA:NOPE) has found itself as the worst performing exchange traded fund on a year-to-date basis, excluding leveraged or inverse funds.
Load Error
As Wall Street hits the tail end of January, NOPE, which was launched in late September of 2022, has fallen by 40.4% so far this year.
NOPE is an actively managed fund purchasing both long and short positions on global equity and fixed income securities. NOPE holds a steep expense ratio of 1.82%. Actively managed ETFs typically have expenses in the general range of 0.5%-1.2%.
While markets lost ground in 2022 amid pressures from inflation and rising interest rates, 2023 has seen a relatively positive start as the benchmark indices are all in the green. The S&P 500 (SP500) and its tracking ETFs (NYSEARCA:SPY), (VOO), and (IVV) are higher year-to-date by 4.2%. The Dow (DJI) and (NYSEARCA:DIA) are +1.7%, and the Nasdaq Composite (COMP.IND) and (NASDAQ:QQQ) have jumped 7.3%.
In other ETF showcase related news, checkout the income ETF that has a 12% dividend yield and nearly $20B assets under management.
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