RE:RE:RE:AnalogguyYup agreed Condor. In all fairness, pipelines have been taking a hit all year and banks have also been under pressure. Then factor in the telecoms and I can see why this is trading down since those are 3 out of the 4 sectors this etf invests in. The last sector are utilities and they make up 25% of the holdings. So I am nt sure how "defensive this will be" during a market correction.