For instance, larger quality names like Google (NasdaqGS: GOOG). Momentum tech stocks and ETFs have clearly been taken to task, but while that has been happening, ETFs with heavy exposure to older, more traditional tech companies have remained firm. The Technology Select Sector SPDR (NYSEArca: XLK), the largest U.S. technology ETF, is up 0.5% while the iShares U.S. Technology ETF (NYSEArca: IYW) is 1.1% higher year-to-date. GOOG is 4.2% of XLK and 5.0% of IYW. [Old Dogs Propping Up Tech ETFs]
Additionally, in the biotech sector, Kostin points to Gilead Sciences (NasdaqGS: GILD). The iShares Nasdaq Biotechnology ETF (NasdaqGM: IBB), which has a 8.4% weight in GILD along with other large-cap names, is down 1.4% year-to-date.
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