Top Performing ETFs Right Now And Where To Buy Them

Some of the top-performing ETFs this year may surprise a lot of investors. A wide assortment of ETFs have been performing well, including the SPDR S&P 500 ETF SPY which is up 20% year-to-date (YTD). Stellar performers include ETFs related to uranium, cannabis, and FANG stocks.

Here are some of the best-performing ETFs over the last six to twelve months along with how their charts are setting up now. All ETFs on the list have at least 175,000 shares in daily average volume and are unleverged.

Sprott Uranium Miners ETF URNM

• 6-month return: 44.5%
• 1-year return: 53.8%

The longer-term chart is setting up a multi-year cup and handle pattern. If the price can break above the handle that could indicate another leg in the uptrend with a price target near $72 (approximate depth of the cup added to breakout area near $51). 

If the price can rally back above recent highs at $50.55 that would be a bullish sign. The price has been chopping around in this handle formation since September, and that could continue. Consider a stop loss below $46.50 if the upside breakout occurs. That's close to a 5:1 reward to risk. The danger is the price continuing to move sideways for an extended period or the price dropping before or after breaking above the handle.

AdvisoryShares Pure US Cannabis ETF MSOS

• 6-month return: 39.7%
• 1-year return: -46.1%

Are cannabis stocks back? They have performed well over the last six months, but are still down significantly over the last several years. That's a scary downtrend to bet against. There may be short-term trades though, even on the long side.

The price recently broke out of a small range which followed a sharp rally. If an entry is possible near $7.05 (requires a small pullback from current levels), with a stop loss at $6.40, a target could be placed near $9 just below the prior high for a reward:risk of 3:1.

Given the volatile nature of the ETF, and the downtrend, consider exiting if the price drops below the prior weekly low. This can also be used as a trailing stop loss to potentially capture more upside if the price keeps running (no target). 

MicroSectors FANG+ ETN FNGS

• 6-month return: 65.4%
• 1-year return: 9.7%

This ETF, centered around high-growth technology companies, has rallied back from a nearly 50% decline which ended in late 2022. The price has moved back to and slightly exceeded the 2021 high.

Watch for a break above the recent high of $36.32. That could indicate the next up-wave is underway. Consider an exit when the price drops below the 15-day simple moving average. It has done a decent job of capturing the bulk of upward moves so far this year. Longer-term trades could use a 15-week simple moving average.

December is historically a decent month for stocks overall. Over the last 20 years, the S&P 500 has moved higher in 14 of those years (70%) and has produced an average gain of 1%. Some of the best performing stocks in December have produced average gains of more than 4.7% and have increased 75% of the time or more. So December is often a good month to be invested in stocks or ETFs.

Disclaimer: the author doesn't own any of the ETFs mentioned in this article.

This article is from an external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.