Financial services stocks taking on the look of value plays has bolstered IAI as well. For example, XLF, an ETF that holds some of the marquee names also found in IAI, has recently sported noticeable price-to-earnings and price-to-book discounts to the S&P 500. And it does not hurt that the sector delivered its second-highest profit in at least 23 years for the three months ended June 30. [Value in Bank ETFs]
Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Charles Schwab (NYSE: SCHW) and CME Group (NYSE: CME), a quartet that combines for over 30% of IAI’s weight, are up an average of 8.1% over the past month.
iShares US Broker-Dealers ETF
