Utilities ETFs were in favor last year as equity investors put a premium on safety and dividends. Utilities Select Sector SPDR has a dividend yield of 3.9%. [Dividends Power Utilities ETFs in 2011]
In other evidence of the so-called risk-on trade this week, volatility-linked ETF tracking CBOE Volatility Index futures fell sharply along with the VIX.
Vanguard Utilities
