ETFs: Now “America first”

Do you prefer European stocks to US stocks? That's over. US stocks are currently performing better. Defense ETFs also remain in demand. Active ETFs are becoming increasingly popular, a study shows.

July 1, 2025. FRANKFURT (Frankfurt Stock Exchange). The continued rise of US stocks compared to European stocks is also noticeable in the ETF market. As Holger Heinrich of Baader Bank reports, US stocks are now being bought again, while global and European stocks are being bought and sold. Overall, however, the ETF business is currently quiet – also due to the geopolitical easing resulting from the ceasefire in the Israel/Iran conflict. Overall, purchases predominate, as Heinrich also reports. "Defenses stocks continue to be in strong demand," notes Ivo Orlemann of ICF Bank. Moritz Kretschmann of Lang & Schwarz also sees considerable interest in defense ETFs. "Gold and silver ETCs are also doing well."

The S&P 500 and Nasdaq 100 reached new record highs again yesterday, Monday. This continues the race to catch up with the long-favored European stocks. With gains of almost 6 and 8 percent respectively since the beginning of the year, the S&P 500 and Nasdaq 100 are now roughly on par with the Stoxx Europe 600 index (up 6 percent). However, the DAX is still far ahead with a gain of 19 percent.