Exchange traded funds, or ETFs, allow investors to very easily and cheaply obtain exposure to a group of stocks. For example, some ETFs focus on stocks within a single country, while others reflect the performance of equities in one sector. Meanwhile, others focus on companies of a certain size such as only small-cap or large-cap stocks. ETFs tend to pose much less risk than individual stocks, and some of their fees are quite low, making them more appealing than mutual funds with high charges. For investors who want to buy ETFs whose themes are currently in vogue with the Street, here are three top ETFs for January 2024.

iShares Semiconductor ETF (SOXX)

Fueled largely by justified bullishness about the positive impact of the artificial intelligence boom on chip makers, the iShares Semiconductor ETF (NYSEARCA:SOXX) zoomed up 35% higher between October 31 and Jan. 26.

Indeed, data centers are buying a huge number of chips to create AI, and they are purchasing many more semiconductors to enable computers to conduct AI-powered functions.

Moreover, PC sales are beginning to rebound as companies and consumers discard the many desktops they purchased during the pandemic and replace them with new ones. And investment bank Cantor Fitzgerald predicts that data centers’ overall demand for chips is about to start increasing as well.

The ETF’s three largest holdings, AMD (NASDAQ:AMD), Broadcom (NASDAQ:AVGO) and Nvidia (NASDAQ:NVDA), all have tremendous exposure to the AI Revolution, and all three have rallied sharply since October.

 iShares MSCI India ETF (INDA)

The very well-regarded consulting firm, Deloitte, recently issued a very bullish report on the Indian economy. I’m also feeling upbeat on India’s economy and on the iShares MSCI India ETF (BATS:INDA).

The firm says that, in the last decade, the nation took actions to convert its capabilities into unique products and solutions. More specifically, the Asian country has emphasized tech and high-end manufacturing. Deloitte now expects the nation’s economy to expand by a very impressive 6.9% to 7.2% , above inflation, during its current fiscal year.

Meanwhile, economists are upbeat on the country’s outlook. A poll of economists by Reuters revealed that, on average, they expect the nation economy to expand at a 6.9% clip this year. Also encouragingly, most of those polled expect India’s inflation rate to drop going forward.

Given India’s strong outlook, I view INDA stock as one of the top ETFs for January 2024.

Vanguard Long-Term Corporate Bond Index Fund (VCLT)

There’s an excellent chance that inflation will continue to trend downward in the medium-term and the long-term. Those wishing to bet on that trend should consider buying the Vanguard Long-Term Corporate Bond Index Fund (NASDAQ:VCLT).

Showing that inflation is indeed slowing sharply, last quarter the core personal-consumption-expenditures price index came in at an annualized rate of 2%. This was in-line with the U.S. Federal Reserve’s target. As a result, the Fed is very likely to cut its benchmark rate later this year, pushing interest rates down further and lifting the VCLT ETF.

Over the long-term, I anticipate that the many, powerful disinflationary forces in America’s economy, such as the proliferation of AI and supply-chain improvements, will push inflation lower. Consequently, interest rates are likely to drop. And according to Morningstar, VCLT is sensitive to interest-rate changes and is likely to benefit from falling interest rates. 

On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.