5 Best Performing ETFs in 2022

1. ProShares Ultra Oil & Gas (NYSE:DIG)

YTD Share Price Gain as of December 9: 88.12%

ProShares Ultra Oil & Gas (NYSE:DIG) seeks daily investment results that correspond to two times the daily performance of the Dow Jones U.S. Oil & GasSM Index. The fund was launched on January 30, 2007 and it offers a gross expense ratio of 0.99%. It has 42 holdings in its portfolio and provides a dividend yield of 4.09%, with a quarterly distribution frequency. ProShares Ultra Oil & Gas (NYSE:DIG) invests primarily in the Oil, Gas & Consumable Fuels, Energy Equipment & Services, Semiconductors & Semiconductor Equipment, Electrical Equipment, and Electric Utilities sectors. 

Chevron Corporation (NYSE:CVX) is one of the top holdings of ProShares Ultra Oil & Gas (NYSE:DIG). On December 7, Chevron Corporation (NYSE:CVX) set a FY 2023 capital spending budget of $17 billion, at the high end of its $15 billion to $17 billion medium-term range and up more than 25% from the anticipated spending in 2022. The budget also includes nearly $2 billion for projects that lower carbon emissions or increase renewable fuels production capacity, which is more than double the 2022 budget.

According to Insider Monkey’s data, 66 hedge funds were long Chevron Corporation (NYSE:CVX) at the end of Q3 2022, compared to 59 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the largest stakeholder of the company, with 165.35 million shares worth $23.75 billion. 

Diamond Hill Capital mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm had to say:

“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”

You can also take a look at 10 Youngest Hedge Fund Billionaires and 10 Best Performing Energy ETFs in 2022.