Amundi’s semiconductor ESG strategy has been Europe’s top-performing ETF since the turn of the year, owing to a considerable allocation to high-flying chipmaker Nvidia.
According to data from justETF, the $306m Amundi MSCI Semiconductors ESG Screened UCITS ETF (CHIP) has surged 23.4% since the turn of the year, taking its returns for the trailing 12 months to 82.7%, as at 23 February.
CHIP, which claims the mantle of Europe’s oldest semiconductor ETF having launched in 2007, has recently turned heads after leaving the rest of the ETFs addressing the theme in its wake.
In fact, the largest and second-best performing ETF in the product class, the $1.5bn VanEck Semiconductor UCITS ETF (SMH), currently lags CHIP’s returns by 8% this year and 14% over the past 12 months.
However, the rift between CHIP and its peers owes to a specific methodological feature allowing Amundi’s…