Year-to-date, just eight of the 30 Dow stocks are up at least 10%, but three – Cisco (NasdaqGS: INTC), Intel (NasdaqGS: INTC) and Microsoft (NasdaqGS: MSFT) – are tech stocks. Those stocks combine for over 15% of XLK’s weight and about 15% of the Fidelity MSCI Information Technology Index ETF (NYSEArca: FTEC).
The tech sector’s recent upside has propelled FTEC, one of the 10 Fidelity sector ETFs launched last October, to nearly $168 million in assets under management, making it one of the largest Fidelity ETFs. [Fidelity ETFs Quick to $1B in Assets]
Overall, inflows to technology ETFs have fairly light this year, a surprise given the 18.3% surge for Apple (NasdaqGS: AAPL), a stock that is usually the largest holding in cap-weighted tech ETFs. ETFs tracking the sector have pulled in $580 million in new assets this year, according to Bloomberg.
Technology Select Sector SPDR
Tom Lydon’s clients own shares of QQQ, Apple, Cisco and Microsoft.