Consumer Discretionary ETFs tilt lower as Amazon dives 12%
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Consumer discretionary exchange traded funds slumped early in Fridayâs trading, pulled down by the earnings-inspired downdraft from e-commerce giant Amazon (AMZN), which is down 12%.
As AMZN shares hit a near two-year trading low, ETFs like Vanguard Consumer Discretionary ETF (NYSEARCA:VCR), Consumer Discretionary Select Sector SPDR Fund (NYSEARCA:XLY), and Fidelity MSCI Consumer Discretionary Index ETF (NYSEARCA:FDIS) have dipped as well. Kicking off the trading session, VCR is -1.9%, XLY is -2.1%, and FDIS is -2.2%.
VCR, XLY, and FDIS each have some of the largest weightings in Amazon in comparison to any other ETFs on the market. Additionally, all three funds have their top weighted holding in Amazon as well.
VCR holds a 22.28% stake in AMZN, whereas XLY has a portfolio holding of 22.97%, and FDIS has a 23.57% weighting in Amazon.
Fridayâs drop is not unique to Friday. Looking longer term, VCR is -19.9% in 2022 as a whole, XLY is -19.7% YTD, and FDIS has fallen 20% on the year.
See below a year-to-date performance chart of VCR, XLY, and FDIS along with how they matched up to AMZN, which is -23.7% in 2022.

Amazon has fallen after the firm issued guidance below expectations, pointing to unique growth and cost challenges around the pandemic and war in Ukraine.