The U.S. Global Jets ETF (NYSEArca: JETS), the lone dedicated airline ETF, is another transportation to consider. JETS is higher by 12% this month.
“From a technical perspective, the rally in transports and delivery stocks has been evident all year, according to Chris Verrone, head of technical analysis at Strategas Research Partners. Verrone said the top-weighted stocks in the sector like FedEx and UPS are showing growth, which he said is a bullish sign for the space as a whole,” reports CNBC.
Airlines account for 19.7% of IYT’s weight while freight and logistics and railroad operators combine for over 54% of the ETF’s weight.
Bullish moves for some big-name transportation stocks “come even as truck tonnage fell in October for the second straight year-over-year decline, according to the American Trucking Association,” notes CNBC.
iShares Transportation Average ETF (NYSEArca: IYT)
