Wahed FTSE USA Shariah ETF is trading 5.3% up today as investors position for a potential rebound in the information technology sector, which accounts for approximately half of the fund's total weight.
- Traders are anticipating a snapback in megacap technology following a semiconductor-led selloff and rotation out of high-valuation growth names, specifically eyeing stabilization ahead of the U.S. Employment Situation report.
- Given the ETF's heavy concentration in large-cap tech and its exclusion of financials, the fund is positioned to benefit from mean-reversion buying as the Nasdaq attempts to close the recent performance gap with the record-setting Dow.