Amazon AMZN is set to release fourth-quarter 2020 results on Feb 2, after market close. Being a market leader in e-commerce, it is worth taking a look at the company’s fundamentals ahead of its results (see: all the Consumer Discretionary ETFs here).Amazon has gained 9.7% over the past three months, outperforming the industry’s average decline of 4.1%. This outperformance might continue given that the online behemoth has reasonable chances of an earnings beat and saw positive earnings revisions ahead of its Q4 report.Inside Our MethodologyAmazon has a Zacks Rank #3 (Hold) and an Earnings ESP of +5.91%. According to our surprise prediction methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.The stock saw solid earnings estimate revision of 4 cents over the past 7 days for the fourth quarter. The Zacks Consensus Estimate represents a substantial year-over-year earnings growth of 9% for the to-be-reported quarter. Amazon’s earnings surprise history is impressive, with a positive earnings surprisebeat of 150.68%, on average, for in the last four quarters. Additionally, the company is expected to report revenue growth of 37.6%. The stock has a top Growth Score of A but falls under a bottom-ranked Zacks industry (bottom 21%).Amazon.com, Inc. Price, Consensus and EPS Surprise Amazon.com, Inc. price-consensus-eps-surprise-chart | Amazon.com, Inc. QuoteThe Zacks Consensus Estimate for the average target price is $3,742 with nearly 100% of the analysts giving a Strong Buy or a Buy rating ahead of the company’s earnings.What’s HotAmazon revenues and earnings are expected to benefit from the pandemic-driven e-commerce surge as well as dual tailwinds of its delayed Prime Day and a holiday shopping season. The company sold $10.4 billion worth of goods on Prime Day, up 45.2% from $7.16 billion in 2019. Amazon also smashed records in the holiday season with deliveries of more than 1.5 billion toys, home products, beauty and personal care products, and electronics (read: Online Sales Explode During US Holiday Season: 4 ETF Picks).ETFs to BuyGiven this, ETFs with the highest allocation to this online behemoth will be in focus ahead of its earnings announcement. These funds are likely to gain if Amazon delivers an earnings beat. We have highlighted six ETFs that have AMZN as the top firm in their portfolio:ProShares Online Retail ETF ONLN: Amazon makes up for 23.9% in the fund’s basket. Fidelity MSCI Consumer Discretionary Index ETF FDIS: It has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. Amazon makes up for 22.8% in the fund’s basket.Consumer Discretionary Select Sector SPDR Fund XLY: The fund carries a Zacks ETF Rank #2 with a Medium risk outlook. Amazon accounts for 22.9% share.Vanguard Consumer Discretionary ETF VCR: This ETF has a Zacks ETF Rank #2 with a Medium risk outlook. Amazon has 21.6% allocation.VanEck Vectors Retail ETF RTH: The fund has a Zacks ETF Rank #2 with a Medium risk outlook. Amazon makes up for 20.8% of the assets (read: ETFs to Play as Beginning of Biden Era May Prompt Market Rally).iShares Evolved U.S. Discretionary Spending ETF IEDI: Amazon makes up for 18% in the fund’s basket.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Get Free Report VanEck Vectors Retail ETF (RTH): ETF Research Reports Consumer Discretionary Select Sector SPDR ETF (XLY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report