Stone “expects S&P 500 earnings to grow at 20 percent in the second quarter, and he believed that could help the stocks rally 10 percent from where they started the year. He’s watching geopolitical headlines closely, such as trade war developments, but he doubted they will spiral out of control,” according to CNBC.
XLE and other traditional cap-weighted energy ETFs are typically heavily allocated to Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX). Those stocks combine for over 37% of XLE’s roster.
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).
For more information on the oil market, visit our energy category.