On a historical basis, discretionary stocks have thrived in rising rate environments. Consumer discretionary stocks have historically gained about 29 percent during periods when interest rates rise, according to Bespoke Investment Group.

Of XLY’s top-10 holdings, a group that represents about 47.5% of the fund’s total weight, seven of those stocks have traded higher over the past three months. Dow components Walt Disney (NYSE: DIS), Home Depot (NYSE: HD) and McDonald’s (NYSE: MCD) are the laggards.

Consumer Discretionary Select Sector SPDR

ETF Trends editorial team contributed to this post.