As has been widely documented, energy is the worst-performing sector in the S&P 500 this year, but some of the sector’s exchange traded funds are taking oil’s decline worse than others.
For example, the VanEck Vectors Oil Service ETF (NYSEArca: OIH), the largest oil services exchange traded fund, is lower by 18.7% year-to-date. Rivals to OIH include the SPDR Oil & Gas Equipment & Services ETF (NYSEArca: XES), iShares U.S. Oil Equipment & Services ETF (NYSEArca: IEZ) and the PowerShares Dyanmic Oil & Gas Services Portfolio (NYSEArca: PXJ). Those ETFs are stumbling as well.
Exploration and production ETFs are also being taken to task. Just look at the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEArca: XOP), which is lower by 16% year-to-date.
The Direxion Daily S&P Oil & Gas Exploration & Production Bear Shares (NYSEArca: DRIP) takes the -3x, or -300%, daily performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the same index tracked by XOP.