Since inception, both funds have dropped sharply in sympathy with the overall equity market sell off since May. In comparison to Consumer Discretionary Select Sector SPDR Fund (NYSEArca: XLY), which is down 10.86% since May, CARZ has lost 22.62% and VROM has lagged even more so, down 25.10%.
In fact, both funds are flirting with their lowest price levels since inception as the industry has suffered over the past few months. Perhaps these funds are worth a second look by those who may believe the subsector is undervalued and due for a rally, of course overall cooperation by the broad equity markets certainly would not hurt.
First Trust Nasdaq Global Auto
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