After the oil bust, energy prices have rebounded, supporting the hydraulic fracturing, or fracking, industry and sector-related exchange traded fund.

The VanEck Vectors Unconventional Oil & Gas ETF (NYSEArca: FRAK), which tracks North American fracking and oil sands, has been outperforming the broader energy sector. Over the past three months, FRAK surged 35.4% while the Energy Select Sector SPDR (NYSEArca: XLE) gained 16.3%.

Related: Oil ETFs Bounce After Goldman Points to Supply Deficit

FRAK is also trading above both its 50- and 200-day simple moving averages, and its short-term trend line recently crossed above its long-term trend.

Nevertheless, while some companies have outperformed the broader equities market, there are still some weak areas. For instance, Pioneer Natural Resources (NYSE: PXD) has strengthened as the firm’s stronger balance sheet afforded it more opportunity to develop attractive projects, reports Spencer Jakab for the Wall Street Journal.

Related: 32 Best ETFs to Track Crude Oil

FRAK includes a 6.2% tilt toward PXD.

Fueling the growth of some fracking firms, the sudden plunge in prices have caused may to tighten their belts and become more efficient producers.

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