Perhaps surprisingly, investors have pulled $447.5 million from XLE since the start of the second quarter. Year-to-date, the ETF has seen inflows of almost $122 million.
“Investors have also been encouraged by a rotation in the market that has benefited energy stocks, healthy mergers and acquisitions activity in the oil patch and positive first-quarter earnings,” reports CNBC.
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.