Monty Rakusen The corrective phase in the stock market may have started in Q2, but there were red flags beforehand in Q1. Yields were climbing, the rally was slowing, and sector performance was reflecting a more risk-off environment. One of the sectors warning of a change was utilities, as represented by the Utilities Select Sector…
Justin Paget Since my last coverage on Utilities Select Sector SPDR Fund ETF (NYSEARCA:XLU), the fund has remained marginally flat in terms of performance. However, the near-term outlook doesn’t look promising, and with this piece, I’m downgrading the XLU to a Hold rating, in line with a lower upside potential. Last time, I suggested that…
Lazy_Bear/iStock via Getty Images If there was one sector you didn’t want to have exposure to in 2023, it was the utility sector. Utilities were one of the worst performing sectors in 2023 by a wide margin. Here are the returns as compared to the S&P 500: S&P 500 2023 Return: +24% Utilities Select Sector…
DNY59 The Utilities Select Sector SPDR ETF (NYSEARCA:XLU) is a high-quality ETF administered by State Street Global Advisors. XLU is benchmarked against the Utilities Select Sector Index, incepted in December 1998, providing investors an opportunity to invest in a well-diversified utilities-focused ETF. XLU provides investors exposure to several themes within the sector. These include “electric…
xijian At the beginning of the year, I penned a cautious article on the Utilities Select Sector SPDR ETF (NYSEARCA:XLU), noting that valuations for utilities were absurdly high on both an absolute and relative basis. After massively outperforming in 2022, I believed that utilities would underperform in 2023. So far this year, the utilities sector,…