At MarketVector, we deliver indexes and index data solutions that span digital assets, fixed income, and equities. With USD 34 billion assets under management linked to our indexes, we offer market participants a variety of indexes to meet their specific investment objectives and capture the latest macro trends. In our January 2024 performance report, we witnessed notable successes across our 170 indexes.
Focusing on the thematic sector and hard asset indexes, in the month of January, the ‘MarketVectorTM Global Uranium and Nuclear Energy Infrastructure Index’ was the top performer garnering a 9.77% gain. This was predominantly due to the increase in worldwide demand for nuclear-based power generation which drove up the prices for Uranium. Followed was the ‘MVIS® US Listed Semiconductor 25 Index’ posting a robust 6.29% gain attributed to strong earnings growth within the sector. Additionally, the ‘MVIS® Digital India Index’ experienced notable growth of 5.45%, continuing its steady appreciation observed over the past year, with the last three months alone delivering a solid return of 22%. On the tail side, we had the Electric vehicle Index taking a hit of 25% due to weak consumer demand worldwide and also supply issues. Followed was the Solar Energy industry Index which was down 23% again dragged down due to sluggish demands.
In the country subset, the leading performer emerged as the ‘MVIS® Egypt Index’, registering a notable increase of 9.81%, closely trailed by the ‘MVIS® Turkey index’. The growth in the ‘MVIS® Egypt index’ was attributed to the country's economic reforms and improved investor sentiment, while the ‘MVIS® Turkey index’ saw gains bolstered by strong market fundamentals and favorable geopolitical developments.
Within Bonds, the ‘MVIS® US Investment Grade Floating Rate Index’ was the top performer gaining almost 1% in January and up almost 7% in the last year. This growth can be attributed to the index's focus on US investment-grade floating-rate bonds, which have seen increased demand due to their ability to adjust to changing interest rates, providing a hedge against rising rates.
Within Digital Assets, January was a relatively tame performance month following the impressive surge in the last quarter of 2023. The best performer was the ‘MarketVectorTM TRON VWAP Close Index’ with 5.22% gains followed by the ‘MarketVectorTM Bitcoin Index’ which was up by 3.52% (with the last three months' return being 26.22%). With recent news in the spot ETF segment, we can expect changing developments in this space.
For full detailed returns kindly check out the ‘Marketvector monthly performance deck’.
Kinjal Shukla is the Index Researcher and Data Engineer at MarketVector. She is responsible for the design and development of MarketVector indexes and for creating data infographics. Kinjal has cleared FRM Level 1 having come from a risk profile in Barclays, India. She has a degree in a Master of Science in Financial Engineering from Stevens Institute of Technology, USA, and an MBA-Tech degree from NMIMS-MPSTME University, India.
For informational and advertising purposes only. The views and opinions expressed are those of the authors but not necessarily those of MarketVector Indexes GmbH. Opinions are current as of the publication date and are subject to change with market conditions. Certain statements contained herein may constitute projections, forecasts, and other forward-looking statements, that do not reflect actual results. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. MarketVector Indexes GmbH does not sponsor, endorse, sell, promote, or manage any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. The inclusion of a security within an index is not a recommendation by MarketVector Indexes GmbH to buy, sell, or hold such security, nor is it considered to be investment advice.