Broadly speaking, technology sector exchange traded funds do not long for attention.
There the ETFs such as the Technology Select Sector SPDR (NYSEArca: XLK) and the iShares U.S. Technology ETF (NYSEArca: IYW) that are well-known not only for their size, but large allocations to Apple (NasdaqGS: AAPL) as well. [Investors Tepid on Apple ETFs as Stock Surges]
Then there are the ETFs like the First Trust Dow Jones Internet Index Fund (NYSEArca: FDN), which focus on more glamorous Internet and social media offerings. There is at least one ETF where old tech and new tech meet and the results have been solid in 2014.
That fund is the often overlooked SPDR Morgan Stanley Technology ETF (NYSEArca: MTK). Although MTK is not as well-known as an XLK or FDN, the fund is nearly 14 years old and has almost $220 million in assets under management.
MTK tracks the Morgan Stanley Technology Index, which is currently tilted in favor of the more mature tech companies that have helped ETFs such as XLK remain durable this year despite increased volatility in the Internet and social media spaces. [Old Dogs Lift Tech ETFs]
MTK is essentially an equal weigh ETF where no individual holding commands more than 3.8% of the fund’s weight. Within the top-10 holdings, MTK’s marriage of new and old tech is obvious as Hewlett-Packard (NYSE: HPQ), Cisco Systems (NasdaqGS: CSCO), Oracle (NYSE: ORCL), Apple, Facebook (NasdaqGS: FB) and Netflix (NasdaqGS: NFLX).