Exchange traded funds tracking basics materials stocks were among Wednesday’s worst-performing sector ETFs as Freeport-McMoRan Copper & Gold (NYSE: FCX) lead the way lower.

Shares of the miner were down 4% late Wednesday. Freeport rallied last month on solid quarterly earnings and a special dividend, but the stock has been weak so far in May.

Freeport accounts for 11.2% of Materials Select Sector SPDR Fund (NYSEArca: XLB), which shed nearly 2% Wednesday. The ETF entered the session with a year-to-date gain of 5%, trailing the S&P 500.

Materials Select Sector SPDR Fund

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