Ahead of the official debut of the communication services sector, the Communication Services Select Sector SPDR Fund (NYSEArca: XLC) is attracting fresh inflows.

XLC is the first ETF dedicated to the new communication services sector. The new ETF tracks the Communication Services Select Sector Index and “seeks to provide precise exposure to companies from the media, retailing, and software & services industries in the U.S.,” according to State Street Global Advisors (SsgA).

Last year, index providers S&P Dow Jones and MSCI announced the formation of the communication services sector, a new look on the telecommunications sector that includes traditional telecom companies as well as companies previously classified as consumer discretionary and technology names. The communication services sector officially debuts in its new form next week.

XLC includes securities of companies from diversified telecommunication services; wireless telecommunication services; media; entertainment; and interactive media & services.

Big Inflows in Big Tech Names

“Investors are starting to shift their cash to maintain exposure to some big tech names like Facebook Inc., Google parent Alphabet Inc. and Netflix Inc. before indexers reclassify the stocks,” reports Bloomberg. “State Street Corp.’s Communication Services Select Sector SPDR Fund (XLC) took in $135 million last week, the most since the exchange-traded fund was launched in June.”

Facebook Inc. (NASDAQ: FB) and the two classes of Alphabet Inc. (NASDAQ: GOOGL) combine for about 42% of XLC’s weight. Other top 10 holdings in the fund include Dow component Walt Disney Co. (NYSE: DIS) and Netflix, Inc. (NASDAQ: NFLX).

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