Magnificent Seven — The Megacaps Are Rising With the 10-Year Yield

The Roundhill Magnificent Seven fund MAGS made a record close of $72.97 on Monday and finished Thursday at $72.51.

It is up 5.5% in September while the S&P 500 fund SPY is up 0.3% and the equal-weight S&P fund RSP is down 3.8%. Over three months MAGS is up 15.7% against 4.9% for SPY, and in the same three months the US 10-year Treasury yield climbed from 4.40% to 5.16%.

Tech stocks are supposed to suffer when rates rise, because their value lies far in the future an…