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.
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