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Amazon.com (NASDAQ:AMZN), one of this year's best-performing S&P 500 members, reports March quarter results after the bell today.
In what will be the company's first report in the midst of the coronavirus, Wall Street is expecting the e-commerce colossus to earn $6.34 a share. Signs, many fostered by COVID-19, are there that this will be a blowout quarter for Amazon.
“The signs that Amazon is getting crushed with demand were there at the outset of the health crisis, with delayed delivery of orders, limited availability of delivery slots for Prime Now, inventory breakage, as well as the two separate announcements that amounted to incremental (roughly) 175k personnel to facilitate fulfillment,” Credit Suisse analysts wrote in a note.
Indeed, Amazon's earnings report could be a big event for some of the 232 exchange traded funds that hold the stock. Here are a few worth considering in advance of the report.
There are Amazon ETFs and then there are AMAZON ETFs. The Fidelity MSCI Consumer Discretionary Index ETF (NYSE:FDIS). FDIS allocates over 34% of its weight to Amazon, the largest weight among all ETFs. In fact, that competition isn't all that close as FDIS's Amazon weight is more than 600 basis points above its next closest rival.
That heft is meaningful because FDIS is outperforming the number two Amazon ETF this year by 160 basis points.
Plus, FDIS is a sound bet for long-term investors because its 0.084% annual fee, or $8.40 on a $10,000 stake, is the lowest among all consumer discretionary ETFs.
Even before the coronavirus outbreak, online retailers were pilfering market share from brick-and-mortar rivals. The pandemic is merely hastening that scenario and it's to the benefit of funds such as the ProShares Online Retail ETF (NYSE:ONLN).
The ProShares fund allocates approximately 24% of its weight to Amazon, a tally surpassed by just four ETFs.
Predictably, the Amazon exposure is meaningful. ONLN is up 18.5% year-to-date while the SPDR S&P Retail ETF (NYSE:XRT) is down 17%.
The VanEck Vectors Retail ETF (NYSE:RTH) has a 22.68% weight to Amazon, putting in the upper tier among ETFs by that metric.
Beyond that, RTH has credibility as a coronavirus ETF play as it allocates another 19% of its weight to Walmart (NYSE:WMT), Costco (NASDAQ:COST) and Target (NYSE:TGT), a trio of retailers that aren't just surviving these days. They're thriving.
