ETF Trends publisher Tom Lydon discussed the SPDR S&P Internet ETF (XWEB) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.
The recent sell-off hit the growth stocks the hardest, and as the dust settles, tech stocks are pushing ahead.
The Federal Reserve eased concerns about the path of interest rate hikes this year – recent selling pressure was attributed to uncertainty over rate hikes.
XWEB tracks the S&P Internet Select Industry index with a 77% weight toward internet software & services and 23% toward internet retail.
It includes a hefty tilt toward the rising e-commerce names like Shutterfly 2.3% and GrubHub 2.0% and big internet growth names like Twitter 2.1% and Netflix 2.0%.