JRNY rallies more than 16% since the start of the year
Global travel stocks continued their rally in the final days of January, outpacing broader markets and pushing the ALPS Global Travel Beneficiaries ETF (JRNY) upper.
JRNY is up 16.13% since Jan. 27, while the SPDR S&P 500 ETF Trust (SPY) rose 6.08% over the same period, each on a total return basis, according to ETF Database.
Global travel stocks continued to rally on China’s reopening amid its recent decision to move away from its zero-COVID policy, lifting quarantine requirements for inbound travelers for the first time since the start of the pandemic. This has led to a surge in airline bookings in China.
Over the past week, industry giants American Airlines (AAL), Southwest Airlines (LUV), JetBlue Airways (JBLU) and Alaska Air Group (ALK) announced their fourth quarter 2022 results. Each company reported strong demand for air travel, offset by high fuel costs that are slowing earnings growth.
Earlier this month, the number of people traveling by air is at pre-pandemic levels, according to data from the Transportation Security Administration.
Comprised of 79 holdings, JRNY’s major holdings currently include LVMH Moet Hennessy Louis Vuitton SE (MC), Booking Holdings Inc (BKNG), Estee Lauder Companies Inc (EL), Walt Disney Company (DIS), Marriott International Inc (MAR) , American Express Company (AXP), Hilton Worldwide Holdings Inc (HLT) and Cintas Corporation (CTAS), according to the ETF database.
Almost 64% of the fund’s holdings are in US companies. JRNY also offers exposure to France (9.33%), Japan (4.69%), China (4.26%), Switzerland (3.35%), Spain (2 .36%), in Mexico (1.81%), among others, according to ETF Database.
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