One of this year's biggest single stock stories is the rise of Amazon.com, Inc. (NASDAQ: AMZN) shares of the e-commerce giant are up 10.3 percent year-to-date and hit another new high last Friday. However, some consumer discretionary exchange-traded funds with large weights to Amazon are scuffling.
Consumer Discretionary ETFs
For example, the Consumer Discretionary SPDR (ETF) (NYSE: XLY), the largest consumer discretionary ETF by assets, is up 3.9 percent this year. That is only a middling showing among the sector SPDRs and one that has XLY trailing the S&P 500 by 150 basis points. Remember that XLY has a 12.6 percent weight to Amazon, making the stock the ETF's largest holding by 540 basis points over second-place Home Depot Inc (NYSE: HD).
XLY's lethargy relative to Amazon has some analysts concerned ...
/www.benzinga.com/analyst-ratings/analyst-color/16/07/8201487/amazon-barely-enough-to-prop-up-discretionary-etfs alt=Amazon Barely Enough To Prop Up Discretionary ETFs>Full story available on Benzinga.com
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