Additionally, the Vanguard Telecommunication Services ETF (NYSEArca: VOX) holds a heavy 23.0% position in AT&T and 22.9% in Verizon while the Fidelity MSCI Telecommunication Services Index ETF (NYSEArca: FCOM), the newest member of the telecom ETF group, weights T at 22.4% and VZ at 22.6%. FCOM has a 0.12% expense ratio and VOX has a 0.14% expense ratio.
Under the STOCK Act, members of Congress are required to provide public disclosures on their stock positions as a deterrent to trade based on insider information or abuse their positions of power.
“Members of Congress act every day on decisions which will earn, or cost, companies billions of dollars,” Daniel Newman, co-founder of MapLight, said in the CNBC article.
For more information on the market sectors, visit our sector ETFs category.
Max Chen contributed to this article.