RYE does, however, prove the old adage about there being no free lunch on Wall Street. The result of the ETF’s significantly reduced exposure to Chevron and Exxon is increased volatility. RYE’s standard deviation is 17.2%, according to Guggenheim data.
RYE resides 8.7% above its 20-day moving average and 7.7% above its 50-day line, but the ETF needs to gain another 4.2% to reclaim its 200-day moving average. RYE has not traded above its 200-day line since September. [Preparing for an Energy Sector Rebound]
Guggenheim S&P Equal Weight Energy ETF
Chart Courtesy: Kimble Charting Solutions