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XLP gains 3.5% as XLK loses nearly 14%

State Street's sector tracker ranked the staples fund first of 11 and tech last, with XLK's decline nearly triple SPYM's 4.7%.

3.5%XLP gains as XLK loses nearly 14%

At a glance

  1. The Technology Select Sector SPDR ETF (XLK) lost nearly 14% over the same six sessions, nearly triple the 4.7% decline in the SPDR Portfolio S&P 500 ETF (SPYM).
  2. For advisors building sector sleeves, State Street's 11-fund shelf produced a spread from a 3.5% gain to a near-14% loss in six sessions.
  3. Inside XLP, Clorox rose 12.4% while Constellation Brands and Hershey each climbed more than 10%, State Street's data showed.

The Consumer Staples Select Sector SPDR ETF (XLP) gained 3.5% from Oct. 29 to Nov. 5, the best of the 11 sector funds in State Street's tracker, ETF Trends reported.

The Technology Select Sector SPDR ETF (XLK) lost nearly 14% over the same six sessions, nearly triple the 4.7% decline in the SPDR Portfolio S&P 500 ETF (SPYM). The Communication Services Select Sector SPDR ETF (XLC) ranked second with a 3.1% gain: its biggest holding, Meta Platforms, slipped 3.1%, while AppLovin surged 39.7%.

For advisors building sector sleeves, State Street's 11-fund shelf produced a spread from a 3.5% gain to a near-14% loss in six sessions. Which of the 11 the client held set the outcome.

Inside XLP, Clorox rose 12.4% while Constellation Brands and Hershey each climbed more than 10%, State Street's data showed. The fund's two largest positions also gained: Walmart added 5.3% and Costco about 7%.

Losses inside XLK concentrated in semiconductors and hardware. Lumentum fell 44.6% and Intel 43.3%, while Microsoft, at a 13.37% weight, edged up 1.1%. The Energy Select Sector SPDR ETF (XLE) fell 10.3%, trailing only technology, with ExxonMobil down 9.8% and Chevron just over 8%.

State Street global head of research Matthew Bartolini argued in a Nov. 4 report that the midterm vote may have changed Washington but not the tariffs, geopolitics and deficits moving markets.

Reported by The Tape desk from ETF Trends. Published . Corrections

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