After outperforming other sectors since the beginning of the year, financials have given up most of the gains and are now even with the broader market.
State Street’s Financial Select Sector SPDR Fund (XLF) was up 20% as late as the beginning of April before beginning a 6-week slide. XLF is now up only 3% year-to-date compared to a 2% gain for the broader market.
Top holdings for XLF include Wells Fargo, Berkshire Hathaway, JP Morgan Chase, Citigroup and Bank of America.. The expense ratio for the $5.0 billion ETF is 0.18%.
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– ETF MarketPro Staff
May 21, 2012