With greater minimum wage and more free money to spend, Americans may be able to spend, which may help boost a range of consumer-related sectors.

For instance, the PowerShares Dynamic Food & Beverage Portfolio (NYSEArca: PBJ) follows US food and beverage companies, such as Monster Beverage (NYSE: MNST), Kraft Heinz Co (NYSE: KHC) and Starbucks (NYSE: SBUX).

People may enjoy more experiences such as hotels and restaurants. The PowerShares Dynamic Leisure and Entertainment Portfolio (NYSEArca: PEJ) could also benefit from the increased outings as the ETF focuses on leisure and entertainment services like airliners, Walt Disney (NYSE: DIS) and Marriott International (NYSE: MAR).

Additionally, the investors could also watch the consumer discretionary sector for improved spending trends, such as the Consumer Discretionary Select Sector SPDR (NYSEArca: XLY), First Trust Consumer Discretionary AlphaDEX Fund (NYSEArca: FXD) and Vanguard Consumer Discretionary ETF (NYSEArca: VCR). XLY tracks consumer discretionary stocks from the S&P 500. The smart-beta FXD follows an enhanced index that selects stocks based on value and growth factors, but the ETF may been seen as more value-oriented than other discretionary ETF options. VCR is much more diversified, including large-, medium- and small-cap stocks in the discretionary space.

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