That is not necessarily surprising as the Dynamic Semiconductor Intellidex Index, PSI’s underlying index, includes price momentum and earnings momentum among its selection criteria.
Of PSI’s top-10 holdings, a group that combines for over 47% of the ETF’s weight, nine are up year-to-date and two are up more than 20%. Over the past year, PSI’s underlying index has outpaced the S&P Semiconductor Index by over 700 basis points, according to PowerShares data.
PowerShares Dynamic Semiconductors Portfolio
Tom Lydon’s clients own shares of Intel.