As the first quarter of 2023 comes to a close, the markets had another green day. Investors seem to be satisfied with the way the banking crisis was handled as fears about the near future subside. VIX – often called the fear index – is down 2.16% on the day and over 13% over the last 5 days.
The S&P was up 0.88% today, the Dow Jones Industrial Average up 0.8%, and the NASDAQ Composite rose 1.24%.
ETF Returns
We performed a screening of large-cap ETFs – defined as having Assets Under Management (AUM) over $10 billion – to determine what funds gained and lost the most value over the last week, according to data from etfdb.com. Only non-leveraged funds were considered.
Winner
Energy Select Sector SPDR Fund (NYSE:XLE)
As of Friday, XLE was up 6.02% on the week.
XLE offers investors exposure to the energy industry in the US. The fund is spread across many companies representing a crossection of the sector, but is heavily weighted toward oil producers.
The fund’s largest holdings are Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) making up 23.47% and 20.04% of the fund, respectively.
XLE is down 4.98% YTD.
Loser
iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT)
As of Friday, TLT was down 1.5% on the week.
TLT is designed to expose investors to long-dated treasuries. The ETF is one of the most popular of its kind. TLT is efficient from a cost perspective, with an expense ratio of 0.15%, and offers high daily volume making it highly liquid.
YTD, TLT is up 5.79%.
