As the market plunged yesterday and today, some exchange traded funds (ETFs) have managed to tread water, including a few surprises such as REITs. Since the market lows last Friday, REITs have held up better than most other ETF sectors. They’ve come back about 3.5%, even with today’s 3% drop. However, these ETFs are still below their averages and off their highs. iShares Dow Jones U.S. Real Estate (IYR) and iShares Cohen & Steers Realty Majors (ICF) are down 14% year-to-date. REITs’ future remains cloudy so it might be best to keep an eye on them from afar for now, says Trade Radar.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.