Dow component Chevron (NYSE: CVX), the second-largest U.S. oil company, delivers its second-quarter results Friday morning. California-based Chevron is XLE’s second-largest holding at a weight of 13.1%.
Although Exxon and Chevron have failed to impress this year, that has not held back XLE, nor has it prevented investors from pouring over $2.5 billion into the ETF. That is more than has been allocated to any other sector ETF. In the second quarter alone, XLE added $2.4 billion in new assets, nearly double the amount allocated to the Industrial Select Sector SPDR (NYSEArca: XLI). [Gushing Over Energy ETFs]
Among the other energy ETFs that will be put under the earnings microscope this week is the Market Vectors Unconventional Oil & Gas ETF (NYSEArca: FRAK).
Three of FRAK’s top-four holdings, Occidental, Anadarko and Hess (NYSE: HES), report this week. Those stocks combine for 21.7% of FRAK’s weight. What FRAK gives up in size to other energy ETFs (it has $97.9 million in assets under management), it has made up for in performance gaining almost 19% this year. [These ETFs House the S&P 500’s Top Stocks]
Energy Select Sector SPDR
