Roundhill New Cloud ETF (NCLD) rose 6.56% in September. Of its 15 largest holdings, 8 gained and 7 fell: the index was up, but nearly half the holdings were down.
Its two core holdings moved out of sync. Nebius $NBISB , with a 34.47% weighting, gained 14.33% to lead the month. CoreWeave $CRWVB , weighted at 26.52%, rose just 2.63%. Together, they account for 60.99% of the ETF, and their monthly returns differed by 11.70 percentage points.
The gap between the other winners and losers was also wide. Keel Infrastructure$KEEL.US gained 12.06%, CleanSpark rose 10.84%, and IREN climbed 10.14%. On the other side, RUM Group fell 15.63% and Galaxy Digital dropped 7.56%. The spread between the best and worst performers among the top 15 was 29.95 percentage points.
What I’ll be watching next is whether these two holdings switch places again. In August, CoreWeave led with an 18.28% gain, while Nebius rose 8.36%; in September, they completely switched positions. With 60% of the ETF’s weight concentrated in the stock that has slowed, it may not be enough to look only at the index to gauge the ETF’s next move.
The above is a summary of publicly available information and does not constitute investment advice.
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Its two core holdings moved out of sync. Nebius $NBISB , with a 34.47% weighting, gained 14.33% to lead the month. CoreWeave $CRWVB , weighted at 26.52%, rose just 2.63%. Together, they account for 60.99% of the ETF, and their monthly returns differed by 11.70 percentage points.
The gap between the other winners and losers was also wide. Keel Infrastructure$KEEL.US gained 12.06%, CleanSpark rose 10.84%, and IREN climbed 10.14%. On the other side, RUM Group fell 15.63% and Galaxy Digital dropped 7.56%. The spread between the best and worst performers among the top 15 was 29.95 percentage points.
What I’ll be watching next is whether these two holdings switch places again. In August, CoreWeave led with an 18.28% gain, while Nebius rose 8.36%; in September, they completely switched positions. With 60% of the ETF’s weight concentrated in the stock that has slowed, it may not be enough to look only at the index to gauge the ETF’s next move.
The above is a summary of publicly available information and does not constitute investment advice.
#美股ETF #AI基础设施 #云计算