2015 has been about as mixed as a market can get. This split market can be seen by looking at two versions of the S&P 500. The Large-cap S&P 500 SPDR (SPY) is up around 2.5% over the past year and the Equal-weight S&P 500 ETF (RSP) is down around 1.5%. This split continues when we look at the nine sector SPDRs and nine equal-weight sectors. Six of nine equal-weight sector ETFs are down over the past year and five of nine sector SPDRs are down. Three sectors stand out in 2015: consumer staples, healthcare and technology. These three stand out because both the large-cap SPDR and equal-weight ETF are up. This indicates broad strength throughout the sector. For example, notice that the EW Healthcare ETF (RYH) is up around 8.5% over the past year and the HealthCare SPDR (XLV) is up around 7.17%. Energy was by far the weakest sector with the Energy SPDR (XLE) falling over 20% and the EW Energy ETF (RYE) falling around 30%.
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--Arthur Hill CMT
Plan your Trade and Trade your Plan
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