Few non-leveraged sector and industry exchange-traded funds can rival the weakness exhibited by the Market Vectors Steel (ETF) (NYSE: SLX) this year.
The steel ETF is down nearly 38 percent. In the essence of fairness, it should also be noted that the SPDR S&P Metals and Mining (ETF) (NYSE: XME), which allocates a significant chunk of its weight to steel stocks, has been much worse than SLX with a 2015 loss of 47.5 percent.
With those data points in mind, it might seem like a death wish for a trading account to become involved with a metals and mining ETF of any type, let alone one that is heavy on gold miners, coal miners and steel producers; XME allocates nearly half its weight to steel stocks and such stocks comprise half of the fund's top 10 holdings.
/www.benzinga.com/news/15/12/6017949/traders-see-pain-train-arriving-for-the-steel-etf alt=Traders See Pain Train Arriving For The Steel ETF>Full story available on Benzinga.com
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