S&P also has an overweight rating on the Guggenheim S&P Equal Weight Consumer Staples ETF (NYSEArca: RHS). RHS is up 6.1% over the past 90 days and touched a new all-time high Thursday.

The standard deviation on RHS is 9.87% and the ETF’s beta is 0.97, indicating the fund is more volatile than traditional cap-weighted staples ETFs. However, over the past three years, RHS has been only slightly more volatile than its cap-weighted rivals while outperforming those funds by wide enough margins to render the modestly higher volatility a moot point. [Get Stuck on Staples With This ETF]

“The Consumer Staples sector, which has performed in line with the S&P 500 Index thus far in 2014, trades a P/E multiple on 2015 Capital IQ consensus earnings of 16.5 times compared to 14.2 times for the S&P 500 Index. Earnings are expected to rise 8.7% in 2015, following an anticipated 5.9% gain in 2014. Meanwhile, the sector’s average 2.7% dividend yield is higher than 2.1% for the broader index,” said S&P Capital IQ.

Consumer Staples Select Sector SPDR



Tom Lydon’s clients own shares of Procter & Gamble and Coca-Cola.