The SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA), the Dow Jones tracking ETF, is off 2.2% over the past month, but the Dow’s two telecom constituents have been among the blue chip index’s most durable members.

Over the past month, AT&T (NYSE: T) is flat while Verizon (NYSE: VZ) has trade slightly higher. That jibes with the decent or less bad performances turned in by consumer staples and utilities, the other ultra-defensive sectors in addition to telecom. [Utilities ETFs Prove Reliable]

The iShares U.S. Telecommunications ETF (NYSEArca: IYZ) has tumbled 6% in the past month while the Vanguard Telecommunication Services ETF (NYSEArca: VOX) is lower by 4%, indicating telecom ETFs have provided investors with no shelter from the recent market storm. IYZ one-month loss is nearly twice as bad as the S&P 500, a surprising statistic when considering the ETF’s beta against the benchmark U.S. index is just 0.55% and the fund has a three-year standard deviation of just 12.8%, according to iShares data.

The weakness in telecom ETFs is also surprising (and concerning) when considering the sector is considered interest rate-sensitive, but 10-year Treasury yields have dipped nearly 7% in the past month.

Obviously, neither IYZ nor VOX are sector SPDR ETFs, but only the Energy Select Sector SPDR (NYSEArca: XLE) has lagged IYZ over the past month. VOX has only been better than four of the nine sector SPDRs over that period. [Dial up a Popular Telecom ETF]