Investors went in search of yield in November and December, driving utility stocks higher in the process. The Utilities Select Sector SPDR Fund (XLU) is up over 12% since the beginning of November compared to an 8% gain for the SPDR S&P 500 Fund (SPY) over the same time period.
While the broader market has made respectable gains in 2009, Biotech stocks have stayed on the sidelines. The SPDR S&P 500 (SPY) is up 21% on the year while the SPDR S&P Biotech ETF (XBI) is actually down over 5% in 2009.
As year end approaches, Google continues to outperform the broader market. Google (GOOG) is up over 80% year to date compared to a 21% gain for the SPDR S&P 500 (SPY).
Global coal miner stocks have more than tripled since March, outperforming the broader market by a wide margin. Van Eck Global’s Market Vectors Coal ETF (KOL) recently topped $34, up from $16 at the beginning of 2009 and $11 at the bottom of the March lows.
Investor interest in gold has lead the price of the precious metal and related ETFs to new highs. The largest gold ETF, SPDR Gold Shares (GLD), is up 35% on the year with the latest up-leg beginning in mid-August.
Telecom stocks have failed to keep pace with the overall market in the second half of 2009. Since June 30, the iShares Dow Jones U.S. Telecom Sector Index Fund (IYZ) is only up 3% compared to an 18% gain for the SPDR S&P 500 (SPY).
Tech investors anxiously await Apple’s quarterly earnings as a sign of whether technology stocks will continue to outperform the broader market. Apple (AAPL) has more than doubled in 2009, far outpacing the 24% gain for the SPDR S&P 500 (SPY).
Brazilian equities have nearly doubled this year, far outpacing the U.S. stock market. The iShares MSCI Brazil Index Fund (EWZ) is up 98% year to date compared to 17% for the SPDR S&P 500 (SPY) over the same time period.
Agri-giant Monsanto’s stock price has lead materials stocks to underperform the broader market. Monsanto is down 11% since August 27 while the SPDR S&P 500 (SPY)was essentially flat over the same period.
