Morningstar likes some midstream and refining names, but is bullish on some other corners of the energy patch, as well.

“Nonetheless, the recent sell-off has created buying opportunities for multiple integrateds, exploration and production companies, and services firms, too,” according to the research firm.

Rivals to XLE include the Vanguard Energy ETF (NYSEArca: VDE), iShares U.S. Energy ETF (NYSEArca: IYE) and the Fidelity MSCI Energy Index ETF (NYSEArca: FENY).

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