When the price of light, sweet crude oil hit a record $80 a barrel yesterday, oil futures-based exchange traded funds (ETFs) couldn’t have been happier. Yet some other ETFs benefited from oil’s price increase as well. One of those ETFs is the iShares S&P Global Energy (IXC).

This ETF tracks the S&P Global Energy Sector Index and invests at least 90% of its assets in a sampling of energy-related securities. Companies included in the index work in oil equipment and services, oil exploration and production and oil refineries. Its top holdings include ExxonMobil (XOM) at 17.5%, BP (BP) at 7.8% and Chevron (CVX) at 6.8%. IXC is currently up 18.3% year-to-date.

Ixc_etf_chart

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.