Biggest Retail ETFs Down on Tepid Data

September saw a mild rise in retail sales, edging higher by 0.1% based on the latest data released by the Commerce Department–a 0.6% rise was forecasted by a Reuters poll of economists. The biggest retail ETFs based on total assets were down–SPDR S&P Retail ETF (NYSEArca: XRT)–down 0.13%, Amplify Online Retail ETF (NadaqGM: IBUY)–down 2.3% and VanEck Vectors Retail ETF (NYSEArca: RTH)–down 0.67% as of 11:15 a.m. ET.

Automobile vehicle sales posted a rebound, but its gains were offset by the biggest drop in spending at restaurants and bars in nearly two years. Nonetheless, retail sales did rise by 4.6% compared to a year ago.

“The net result still appears to be a fairly strong quarter for consumer spending growth,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics in White Plains, New York.

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The SPDR® S&P® Retail ETF seeks to provide investment results that correspond generally to the total return performance of the S&P® Retail Select Industry® Index (the “Index”). XRT gives investors exposure to the retail segment of the S&P TMI, which is composed of industries within apparel retail, automotive retail, computer & electronic retail, department stores, drug retail, food retailers, general merchandise stores, hypermarkets & super centers, internet & direct marketing retail, and specialty stores. XRT allows investors to take strategic or tactical positions at targeted levels as opposed to traditional sector-based strategies.