“Look at the long-term chart, it looks absolutely horrible,” said Matt Maley, equity strategist at Miller Tabak, in an interview with CNBC. “”It’s broken below its trend line going all the way back to the crisis lows of 2009,” Maley added. “It’s broken below its 2017 low, its 2016 low, its 200-day moving average.”
Year-to-date, investors have pulled nearly $887 million from XLP, but that number is deceiving because the ETF’s second-quarter outflows are close to $1 billion.
Rivals to XLP include the Vanguard Consumer Staples ETF (NYSEArca: VDC) and the Fidelity MSCI Consumer Staples Index ETF (NYSEArca: FSTA).
For more information on the consumer sector, visit our consumer staples category.