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Several narrowly focused exchange-traded funds were at the top of their class in April.
The broadly diversified market inched ahead in the month. The small-capitalization stocks of the Russell 2000 Index gained 4.19%. The large-cap S&P 500 index did a bit better at 4.87%.
The best-performing ETF in the month was B2B Internet HOLDRs Trust(BHH Quote), up 29.73% from March 31 to April 30. The turnaround in performance led to an upgrade in the rating of this fund to C-, Hold, from E-, Sell.
The fund is so narrowly focused to U.S. B2B Internet companies that it has only two holdings, with an allocation of 85.7% Ariba(ARBA Quote) and 14.3% Internet Capital Group(ICGE Quote). ...
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