Rather, PEZ is true to its momentum roots as it features Netflix (NasdaqGS: NFLX) and Tesla (NasdaqGS: TSLA) among its top-10 holdings. PEZ is one of just 11 ETFs that features Tesla among its top-10 holdings and one of just eight that extend the same courtesy to Netflix, according to S&P Capital IQ data.
American Airlines is the ETF’s ninth-largest holding at 3.4%. Overall, devotes 12.1% of its weight to airlines, making the group the ETF’s second-largest industry exposure behind specialty retail. PEZ is also one of just 11 ETFs that show American Airlines as a top-10 holding.
American as a top-10 holding is good news for PEZ as the company just announced a $1 billion buyback and its first dividend in over three decades, according to Bloomberg. In addition to American, PEZ holds four other airline stocks, including a 1.3% weight to Hawaiian Holdings (NasdaqGS: HA), a stock that is up 46.4% this year.
PowerShares DWA Consumer Cyclicals Momentum Portfolio
ETF Trends editorial team contributed to this post.