Energy ETFs that could benefit from the Republicans maintaining or expanding their majorities in Congress include the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEArca: XOP) and the SPDR Oil & Gas Equipment & Services ETF (NYSEArca: XES).
XOP “seeks to provide exposure the oil and gas exploration and production segment of the S&P TMI, which comprises the following sub-industries: Integrated Oil & Gas, Oil & Gas Exploration & Production, and Oil & Gas Refining & Marketing,” according to State Street SPDR.
“A Republican sweep would continue to benefit traditional energy producers, with less regulation and additional lands open for leasing, including areas in the outer continental shelf,” said SSgA.
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