All eyes on Wall Street will be on Nvidia’s latest second-quarter earnings report.NASDAQ:NVDA) is expected to go public after the close of trading. While much of the attention is on the chip makers themselves, many exchange-traded funds are also ETFs will also be in the spotlight as fluctuations in the underlying stock prices will ripple through to the ETF space.
“NVDA options are implying a +/- 10% move following the earnings release, above the four-quarter average of 7%, but we believe index and ETF options prices are generally too low ahead of this event,” Goldman Sachs said Wednesday morning.
Highlighted below are the top 20 exchange-traded funds that have historically seen the largest volume-adjusted price changes during NVDA returns: “In addition to semiconductor/tech ETFs, emerging markets bond, industrial and healthcare ETFs have seen the largest changes during the past eight NVDA returns,” Goldman Sachs noted.
Check out the investment bank’s top 20 ETFs list, which shows the funds with the largest volume-adjusted price changes in NVDA’s returns over the past eight quarters.
Adjusted top 20 ETF stocks change after Nvidia releases Q8 earnings
No. 20: (KWEB): Adjusted change is 0.71, absolute change is 2.4%.
No. 19: (LQD): Adjusted change is 0.73, absolute change is 0.5%.
No. 18: (IWM): Adjusted variation is 0.74, absolute variation is 1.0%.
No. 17: (XBI): Adjusted change is 0.75, absolute change is 1.4%.
No. 16: (XLP): Adjusted change is 0.75, absolute change is 0.5%.
#15: (FXI): Adjusted variance is 0.80, absolute variance is 1.8%.
14th place: (XLU): Adjusted change is 0.80, absolute change is 1.0%.
13th place: (XLI): Adjusted change is 0.81, absolute change is 0.8%.
No. 12: (XLY): Adjusted change is 0.83, absolute change is 1.1%.
No. 11: (HYG): Adjusted change is 0.83, absolute change is 0.5%.
No. 10: (ARKK): Adjusted change is 0.85, absolute change is 2.4%.
No. 9: (XLV): Adjusted change is 0.96, absolute change is 0.8%.
No. 8: (DIA): Adjusted change is 0.96, absolute change is 0.7%.
No. 7: (EMB): Adjusted change is 1.00, absolute change is 0.8%.
No. 6: (SPY): Adjusted change was 1.02, absolute change was 1.0%.
No. 5: (VOO): Adjusted change was 1.03, absolute change was 1.0%.
No. 4: (QQQ): Adjusted change was 1.10, absolute change was 1.4%.
No. 3: (XLK): Adjusted change was 1.29, absolute change was 1.8%.
No. 2: (SOXX): Adjusted volatility is 1.43 and absolute volatility is 2.9%.
No. 1: (SMH): Adjusted change is 1.71, absolute change is 3.4%.
For reference, Nvidia (NVDA) is scheduled to release its latest Q2 earnings report after the close of trading on Wednesday, with economists expecting EPS of $0.65 and revenue of $28.74 billion.
