Clobbered Sector ETFs Offer Bargain Plays | Page 2 of 2 | ETF Trends

Additionally, on Tuesday, the iShares US Consumer Services ETF (NYSEArca: IYC) advanced 2.1%, Vanguard Consumer Discretionary ETF (NYSEArca: VCR) was up 2.4% and the Consumer Discretionary Select Sector SPDR (NYSEArca: XLY) was 2.3% higher. Year-to-date, IYC fell 10.1%, VCR declined 11.4% and XLY decreased 10.7%.

After the correction, some may be stepping back into a cheaper market. According to the Bank of America, investors lowered equity holdings this year and cut banks at the quickest rate in almost a decade on the market fall off while raising cash allocations to their highest level since November 2001. BofA strategists led by Michael Hartnettt argue that these heightened cash levels represent an “unambiguous” buy signal.

SPDR S&P Regional Banking ETF

Max Chen contributed to this article.