Shares of Dow component Wal-Mart (NYSE: WMT), the world’s largest retailer, are down 4.1% this, which looks good compared to the 23.4% lost by Amazon. That is enough to put the e-commerce giant in bear market territory. [Amazon a Problem for These ETFs]

Discretionary ETFs have also disappointed. For example, the Vanguard Consumer Discretionary ETF (NYSEArca: VCR) is down 3.1% and has lost $163.6 million in assets this year. Only five of VCR’s top-10 holdings, a group that combines for over 35% of the ETF’s weight, are up year-to-date.

Vanguard Consumer Discretionary ETF

 

Tom Lydon’s clients own shares of Amazon.