With higher beta, cyclical sectors leading U.S. equity markets higher this year, some defensive sectors are lagging. That is the case with consumer staples. Amid fears of rising interest rates and concerns that the sector is overvalued even relative to its lofty historical norms, the consumer staples sector has recently encountered some headwinds.

“Consumer staples stocks traded in overbought territory at the beginning of the year but fell sharply into oversold levels during the early February sell-off on broader markets. The XLP’s relative strength index, a measure of the overbought or oversold conditions of a security, currently trades at 32. A reading below 30 indicates oversold territory,” according to CNBC.

XLP, which holds 34 stocks, has a dividend yield of 2.99%, according to issuer data. That yield will move higher if the ETF’s prices continues faltering.

Rivals to XLP include the Vanguard Consumer Staples ETF (NYSEArca: VDC) and the Fidelity MSCI Consumer Staples Index ETF (NYSEArca: FSTA).

For more information on the consumer sector, visit our consumer staples category.