After lagging the S&P 500 last year, just the second time it has done so since 2008, CSD is up 6.2% this year and today joins PBJ as two of just 11 ETFs hitting all-time highs. [Spin-Off ETF Spins up Some Changes]
Buoyed by an almost 3.2% weight to Kraft, the First Trust US IPO Index Fund (NYSEArca: FPX) is one of the other ETFs making all-time highs today. FPX does not limit its holdings to true IPOs. The ETF can hold spin-offs and the ETF’s holdings can remain in the fund for 1,000 days after their IPOs. Including Kraft, three of FPX’s top 10 holdings are spin-offs.
On a day when it is down nearly 1%, the SDPR Dow Jones Industrial Average ETF’s (NYSEArca: DIA) is likely missing Kraft. Kraft was booted from the Dow Jones Industrial Average in September 2012.
PowerShares Dynamic Food & Beverage Portfolio