The Materials Select Sector SPDR (NYSEArca: XLB) and other materials exchange traded funds were standouts among sector ETFs last year. For example, the largest and most heavily traded materials ETF, jumped 16.8%, easily outpacing the 12% returned by the S&P 500.
Though it is still early in 2017, it appears some of that materials momentum has carried over into the new year.
President Donald Trump’s has reiterated his plan to build a wall along the Mexican border, reinforcing construction and materials-related exchange traded funds.
Trump tweeted Tuesday “Among many other things, we will build the wall!” ahead of his visit to the Department of Homeland Security, the agency that has jurisdiction over securing the border, Bloomberg reports.
Rivals to XLB include Vanguard Materials ETF (NYSEArca: VAW) and Fidelity MSCI Materials Index ETF (NYSEArca: FMAT).