Fund Returns: Tech Stabilizes After Down Month, Utilities And Gold Mining Down - Large-Cap Winners And Losers
Portfolio Pulse from Johnny Rice
A screening of large-cap ETFs revealed that iShares U.S. Technology ETF (IYW) and Technology Select Sector SPDR Fund (XLK) had positive returns, while Utilities Select Sector SPDR Fund (XLU) and VanEck Gold Miners ETF (GDX) had negative returns. IYW and XLK's largest holdings are Apple Inc. (AAPL) and Microsoft Corporation (MSFT). XLU's largest holdings are NextEra Energy, Inc. (NEE) and Southern Company (SO), while GDX's largest holdings are Newmont Corporation (NEM) and Franco-Nevada Corporation (FNV).
October 05, 2023 | 5:32 pm
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POSITIVE IMPACT
iShares U.S. Technology ETF (IYW) is up 0.81% over the trailing week and 40.29% YTD.
The positive returns indicate a favorable market response, which could lead to a short-term increase in the ETF's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Technology Select Sector SPDR Fund (XLK) was down 0.56% on the week but is up 31.73% YTD.
Despite the slight dip, the overall positive YTD return suggests a generally favorable market response.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
VanEck Gold Miners ETF (GDX) was down 6.02% on the week and is down 9.04% YTD.
The negative returns indicate a less favorable market response, which could lead to a short-term decrease in the ETF's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Utilities Select Sector SPDR Fund (XLU) is down 1.94% over the trailing week and 6.78% YTD.
The negative returns indicate a less favorable market response, which could lead to a short-term decrease in the ETF's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100