Tech ETF Revival
April 30th at 8:12am by Tom Lydon
Apple and Amazon have ignited interest in technology exchange traded funds ETFs). Thanks to Amazon (AMZN), Internet HOLDRs (HHH) was up 7.8% for the week. Apple (AAPL) went up 3.7% on a great earnings report and sparked new interest in the tech sector. Carl Delfeld of Chartwell Advisors says most technology ETFs are market-cap weighted and usually favor the big names. A different approach to technology is the Rydex Equal-Weight Technology (RYT) that came out last November. The annual expense ratio is 0.50% with 75 stocks that mimic the S&P equal-weight technology index.
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.
