The U.S. Global Jets ETF (NYSEArca: JETS), the lone ETF dedicated to airline stocks, is lower by about 1% over the past week, but earnings reports from some of the fund’s marquee constituents could send the fund flying higher.
JETS follows the U.S. Global Jets Index, which uses fundamental screens to select airline companies, with an emphasis on domestic carriers, along with global aircraft manufacturers and airport companies. JETS is trading at a 10.0 price-to-earnings and a 2.2 price-to-book.
“Gains over the past week have also improved the technical outlook for transports stocks, he said. The IYT has risen by more than 1 percent three times in the past five sessions,” according to CNBC.
For more information on Transportation ETFs, visit our Transportation category.