Major Consumer Staples ETFs reach 4-month highs
Bet_Noire
Exchange traded funds focused on the Consumer Staples sector have tracked higher since the start of 2023, with some of the most prominent names in the category climbing to 4-month trading highs.
Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) and the Vanguard Consumer Staples ETF (NYSEARCA:VDC), which are the marketâs two largest Consumer Staples ETFs, which cumulatively manage just over $25B, both touched levels not seen since mid-December.
Supporting their topside moves have been some of XLPâs and VDCâs overlapping holdings. Gains have come from names like Proctor & Gamble (PG), Coca Cola (KO), and PepsiCo (PEP), three stocks with significant weightings in both ETFs.
As of Tuesdayâs intraday trading, XLP hovers near $77, while VDC sits near $200.
Other Consumer Staples ETFs that have also been tracking higher in 2023 include the iShares U.S. Consumer Staples ETF (IYK), First Trust Consumer Staples AlphaDEX Fund (FXG), and the Invesco S&P 500 Equal Weight Consumer Staples ETF (RHS).
Year-to-date price action: XLP +3.5%, VDC +4.1%, IYK +1.3%, XFG +1.5%, and RHS +2.5%.
In other sector news, the tech space looks to be showcased on Tuesday as multiple mega-cap segment leaders prepare to deliver Q1 earnings.