As the Federal Reserve appears set for its first interest rate hike in nine years, it is not surprising that financial services stocks and exchange-traded funds are garnering increased attention. Over the past three months, it is hard to find a bank-heavy ETF that has not easily outpaced the S&P 500.
The $513.4 million PowerShares KBW Bank Portfolio ETF (NYSE: KBWB) is one such fund. Seasoned bank investors undoubtedly have heard of the KBW Nasdaq Bank Index, which is underlying index for KBWB. While rival financial services ETFs have posted three-month gains of over 6 percent, KBWB can lay claim to a 90-day gain of 7.3 percent, making it one of the best-performing financial services ETFs over that stretch.
Banking ETFs And The Fed
With increasingly higher odds that interest rates are going to imminently ...
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