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The Roundhill Magnificent Seven ETF (CBOE:MAGS) was designed to provide investors with clean, equal-weighted exposure to the seven mega-caps that drove the S&P 500 higher for most of the past three years.
Robust Q2 earnings momentum is likely to fuel a broader market rally. These ETFs are well positioned to benefit from the scenario.
The Magnificent Seven was never a durable investment approach, destined to stop working like earlier versions of the same theme.
Leveraged ETFs posted huge gains last week despite a weak market, driven by rallies in crypto, AI infrastructure, defense and energy-related stocks.
The artificial intelligence boom reshaped the stock market faster than almost any investing trend in recent memory.
An exchange-traded fund holding the S&P 500 minus those seven names is outperforming the Magnificent Seven group by nearly 17 percentage points this year.
The Roundhill Magnificent Seven ETF (BATS:MAGS) plunged 4.63% on Thursday in its worst single-day drop in 15 months, as aggressive capital spending on artificial intelligence severely pressured big tech balance sheets amid a decline in dividends and buybacks.
Investors have largely shifted their attention away from the Magnificent 7 companies as enthusiasm has moved toward semiconductor stocks and the broader artificial intelligence trade. The Roundhill Magnificent 7 ETF (MAGS) has gained just 0.68% this year, significantly underperforming the S&P 500 and Nasdaq 100 indices.
SEC filings for MAGS aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.