Lumber Price Surge Is Fueling WOOD and NAIL Funds to Records
- Timber jumps as demand lands in supply-constrained market
- Homebuilders ETF saw most monthly inflows since 2015 in March
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A red-hot housing market is sparking a record-breaking rally in lumber-tracking exchange-traded funds.
The $393 million iShares Global Timber & Forestry ETF (ticker WOOD) has nearly doubled in the past year and is now at a record. Meanwhile, the triple-leveraged $475 million Direxion Daily Homebuilders & Supplies Bull 3X Shares fund (ticker NAIL) is the second-best performing U.S. equity fund this year, according to Bloomberg data.