The S&P 400 Mid-Cap Index (IVOO) rose 0.3% on October 20–27, 2017. We already discussed the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index’s (DIA) price performance in the previous part of this series. During this period, US crude oil (USO) December futures rose 4%.
Last week, the Energy Select Sector SPDR ETF (XLE) fell 0.6%. It was the smallest loser on our list of sector-based SPDR ETFs. During this period, the Technology Select Sector SPDR ETF (XLK) rose 2.4%, while the Health Care Select Sector SPDR ETF (XLV) fell 2.1%—the largest among our list of sector-based SPDR ETFs.
Energy sub-sector ETFs
Apart from XLE, the price performance of other energy sub-sector ETFs in the week ended October 27, 2017, are:
- the Alerian MLP ETF (AMLP) at -1.4%
- the VanEck Vectors Oil Services ETF (OIH) at -0.6%
- the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) at 0.2%
We already highlighted XLE’s performance during this period. So, while equity indexes broadly gained, energy sub-sector ETFs ignored the gain in oil prices last week. The gains in the broad equity markets likely weren’t related to the gains in oil prices.