Furthermore, the financial industry has argued that such a fee should be addressed through regulatory action and not through the tax code. The companies also contend that it is unfair to single out a single sector for greater taxation.

Financial Select Sector SPDR

For more information on the financial sector, visit our financial category.

Max Chen contributed to this article.

Full disclosure: Tom Lydon’s clients own shares of IYF and SPY.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.