Railroads have not been the only problems for transportation ETFs this year. Airlines, which surged on the back of last year’s oil slide, are tumbling this year, too. Alaska Air (NYSE: ALK), United Continental (NYSE: UAL) and Delta (NYSE: DAL), IYT’s three largest airline holdings, are off an average of 9% this year. [Airline ETFs in a Holding Pattern]
Airlines are IYT’s third-largest sub-sector exposure at almost 16.1% of the ETF’ weight.
Dow Theory Chart
Chart Courtesy: Neil Azous, Rareview Macro
Tom Lydon’s clients own shares of IYT.