Technology is often viewed as a glamorous sector. Even the Technology Select Sector SPDR (NYSEArca: XLK), which is tilted more mature tech companies, has some exposure to more exciting fare. Apple (NasdaqGS: AAPL) and both classes of Google shares combine for over 22% of the ETF’s weight.

Although XLK and several other ETFs with deep allocations to “old school” tech companies have held up quite well this year compared to their Internet and social media counterparts, investors might want to consider rotating out of tech into late cycle sectors. [Old Friends Boost Tech ETFs]

The phrase “late cycle sectors” gives away the fact those groups are leaders towards the end of a lengthy run higher for stocks, whereas tech is a leader in the earlier innings. There is already evidence of the late cycle trade working with ETFs such as the Materials Select Sector SPDR (NYSEArca: XLB) recently showing signs of strength. [Materials ETFs on the Move Higher]

Another idea is the decidedly unglamorous energy sector. Unglamorous, but outperforming, that is. XLK has barely moved over the past month while the Energy Select Sector SPDR (NYSEArca: XLE) has broken out, rallying more than 6% while cruising to a new all-time high Thursday.

“Technology tends to lead at the beginning of a bull market cycle, and it did just that off the 2009 lows. But that outperformance came to an end over a year ago. On the flip side, Energy has been underperforming for what seems like forever. But I think we’re currently seeing this change,” notes Eagle Bay Capital President J.C. Parets.