KBWD’s sector allocations include financials 88.2%, industrials 1.7% and investment companies 10.1%. XLF’s sub-sector allocations include insurance 26.2%, diversified financials services 23.6%, commercial banks 17.6%, real estate investment trusts 14.1%, capital markets 12.7%, consumer finance 5.8%, thrifts & mortgage finance 0.4% and real estate management & development 0.3%.
Bank stocks rose Tuesday, led by Bank of America (NYSE: BAC), which was up over 3%, after Morgan Stanley upgraded the bank to overweight due to lower expensies and higher mortgage fees, MarketWatch reports. The overall better-than-expected earnings season has helped prop up the sector.
PowerShares KBW High Dividend Yield Financial Portfolio
For more information on the financials sector, visit our financial category.
Max Chen contributed to this article.