The recent pullback in the the transportation sector-related exchange traded fund may have been temporary and provided a buying opportunity for some.

The iShares Transportation Average ETF (NYSEArca: IYT), which tracks the Dow Jones Industrial Average Index, dipped 0.4% year-to-date and is trailing the Dow Jones Industrial Average.

However, investors should not take too much stock in the year-to-date numbers as the transportation sector is on a long-term bullish trend, writes J.C. Parets for All Star Charts.

Since the fall of 2012, the Dow Jones Transport Average has more than doubled the Dow Industrial Average. Specifically, the Transportation Average has gained almost 80% since 2012, whereas the Industrial Average has increased about 35%.

Looking at a comparison ratio between the two indices, the Dow Jones Transportation Averages vs Dow Jones Industrial Average has formed a solid uptrending channel. Currently, the pullback in transports has sent the ratio toward the lower end of the channel but it is rising, with IYT up 3.2% over the past week, suggesting that some have are using the recent weakness as a buying opportunity.

The equal-weight transportation option, SPDR S&P Transportation ETF (NYSEArca: XTN), has fared much better, rising 4.2% over the past week and 1.1% year-to-date. XTN has also been attracting heaving inflows as investors capitalized on the strength in transports over the past few years. According to, XTN has seen $544.1 million in net inflows since the start of 2013, bringing its total assets up to $658.5 million.