Widely documented have been the struggles of the financial services sector this year. The Financial Select Sector SPDR (NYSE: XLF), although that exchange traded fund has recently rallied, is off 1.6 percent year-to-date.
Some other ETFs tracking parts of the second-largest sector weight in the S&P 500 have lagged XLF in significant fashion. Blame Wall Street. Seriously, ETFs dedicated to brokerage houses and capital markets firms have lagged broader financial services ETFs like XLF in a big way this year.
Just look at the iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE: IAI) and the SPDR S&P Capital Markets ETF (NYSE: KCE). The average year-to-date loss for those ETFs is more than eight percent. In the essence of fairness, it should be noted that KCE and IAI are up 9.4 percent and 4.8 percent, respectively over the past 90 days.
Adding to the near-term ...
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