On that note, PXE’s top-five holdings are EOG Resources (NYSE: EOG), Marathon Oil (NYSE: MRO), Chesapeake Energy (NYSE: CHK), Apache (NYSE: APA) and ConocoPhillips (NYSE: COP). None of those companies have refining exposure and the worst performer of that quintet over the past 90 days is Marathon, which has still managed a gain of mover than 11%.
PXE has another advantage. It is the only ETF that features RSP Permian (NYSE: RSPP) among its top-10 holdings. RSP Permian is not a household name among energy stocks, but up 5.2% today, the stock has surged 55% since its mid-January IPO. [Tempting Fundamentals With This Energy ETF]
The energy sector has been viewed as a value play this year and PXE’s valuation jibes with that view. PXE’s P/E ratio is 15.79 and price-to-book ratio of 1.73 compare favorably with the same ratios found on some cap-weighted energy ETFs. Additionally, the Dynamic Energy Exploration & Production Intellidex Index has outperformed the S&P Oil & Gas Exploration & Production over the past three yeas and five years, according to PowerShares data.
PowerShares Dynamic Energy Exploration & Production Portfolio
