You
might as well call this exchange-traded fund "the General Electric
(GE) fund," as more than 22% of its value is tied up in that firm.
However, GE is not the whole story. The Industrial SPDR (XLI) invests in
conglomerates like GE (which, when taken together with GE account for
33% of the fund) as well as aerospace and defense (17%) and even
services firms (11%) such as UPS (UPS), which comprises 7.5% of the
fund's value. XLI also has a small transportation component, which is a
pity since airlines have been a long-term loser for investors. Overall,
however, the fund is pro-cyclical, and if the economy continues to grow,
then this fund will perform well (especially if we finally see strong
growth in manufacturing).
| Industrial SPDR (XLI) | |||||
| Type: | Sector | ||||
| Similar funds: | Materials SPDR (XLB) | ||||
| Options?: | Yes, illiquid | ||||
| Performance Data | |||||
| YTD High: | $26.65 | 12/19/2003 | Annualized return since: | ||
| YTD Low: | $20.65 | 3/12/2003 | One-year | 30.03% | |
| YTD Return: | 29.63% | As of close 11/21/03 | Three-year | -3.32% | |
| Five-year | N/A | ||||
| Dividends: | $0.14 | past 12-mos | Life of fund* | 3.90% | |
| Expense Ratio: | 0.28% | * - Started trading 12/22/1998 | |||
| Correlation Data* | (1/02/02-11/30/03) | Holdings* | (as of 12/1/2003) | ||
| Dow Jones Industrials | 92.1% | General Electric (GE) | 20.64% | ||
| S&P 500 | 91.0% | United Parcel Service (UPS) | 7.63% | ||
| Nasdaq Composite | 79.3% | 3M Company (MMM) | 6.07% | ||
| Nasdaq-100 | 76.3% | Tyco International (TYC) | 4.69% | ||
| United Technologies (UTX) | 4.11% | ||||
| XLB | 82.7% | Boeing (BA) | 3.25% | ||
| Caterpillar Inc. (CAT) | 2.73% | ||||
| Emerson Elec. (EMR) | 2.54% | ||||
| Honeywell Intl. (HON) | 2.49% | ||||
| Illinois Took Works (ITW) | 2.42% | ||||
| * Percent top ten are of total | 56.57% | ||||
| Average Daily Volume | Average Daily Price Range | ||||
| Nov-03 | 289,629 | Nov-03 | 1.2% | ||
| 2003 YTD | 319,793 | 2003 YTD | 1.8% | ||
| 2002 | 179,312 | 2002 | 2.5% | ||
| * - Correlation measures how closely the two items track each other | * Includes prior day's close (true range) | ||||
