Looking ahead, Sam Stovall, Chief Equity Strategist for S&P Capital IQ, believes cyclical sectors will lead the markets over March after the typical slump in February, according to historical data since 1970.
“Historically, the consumer discretionary, materials, energy, financials and industrials sectors outperformed the S&P 500 in March over this period and four of the five (not financials) continued this success in April,” Rosenbluth added.
PowerShares S&P 500 High Beta Portfolio
For more information on sector funds, visit our sector ETFs category.
Max Chen contributed to this article.