Among sector exchange traded funds, telecom ETFs are usually the smallest and most overlooked, factors that belie occasional opportunity with this slow-growth group.

The SPDR S&P Telecom ETF (NYSEArca: XTL) is one telecom ETF that currently holds some allure and that allure is derived from a key advantage: XTL is not your run-of-the-mill telecom. Said another way, investors looking for an ETF heavy on telecom giants like AT&T (NYSE: T) and Dow component Verizon (NYSE: VZ) should look elsewhere.

XTL, which turned four earlier this year, is an equal-weight fund where none of its 57 holdings account for more than 2.9% of its weight. Last year’s top-performing telecom ETF with a gain of just over 5.2%, XTL is up 5.6% this year and its technical condition is improving. [Meet This Year’s Best Telecom ETF]

“The recent move toward the upper resistance means that traders will want to watch for companies in this sector because they could be due for a surge in momentum. Based on the pattern, traders will look to enter positions in the ETF once the price closes above the upper trendline near $60.50,” according to Investopedia.

XTL is arguably more of a tech fund with nearly two-thirds of its weight devoted to communications equipment makers, some of which have exposure to high-growth areas of the technology sector, such as cyber security and cloud computing. [Telecom ETFs Betray Conservative Reputations]

The ETF’s top 10 holdings include cyber security and communications equipment giants Palo Alto Networks (NasdaqGS: PANW), Juniper Networks (NasdaqGS: JNPR) and Harris (NYSE: HRS) as well as Dow component Cisco (NasdaqGS: CSCO).