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Big Names Aren't Big in This Tech ETF, But Big Returns Are
The technology sector, the S&P 500’s largest sector exposure, continues driving U.S. equity markets higher. On Wednesday, more than 15 of the exchange traded funds hitting all-time highs were technology funds and that doesn’t include the ETFs tracking tech-heavy benchmarks such as the NASDAQ-100.
Not surprisingly, some of tech’s biggest names are boosting the sector’s fortunes. Year-to-date, nine members of the Dow Jones Industrial Average are higher by at least 10 percent. Three are technology stocks: Apple Inc. (NASDAQ: AAPL), Cisco Systems Inc. (NASDAQ: CSCO) and Visa Inc. (NYSE: V). The combined market value of that trio is about $1.05 trillion.
So that should be good news for cap-weighted tech ETFs, or those funds …
Photo: Tobias Jo