One exchange-traded fund is bucking Wednesday’s stock-market tumble. The iShares U.S. Home Construction ETF was up 0.2% in the early afternoon, even as the broader stock market is down more than 3%. It’s not a sweep for homebuilder funds, however: ITB’s competitor, the SPDR S&P Homebuilders ETF is down 0.8%. ITB has a much heavier weighting of builders, and less of the ancillary companies that make up XHB’s holdings, however. Over one-third of its portfolio are in three companies: D.R. Horton Inc , Lennar Corp. and NVR Inc. , all of which were up solidly on Wednesday. In contrast, XHB’s top holdings include Carrier Global Corp and Whirlpool Corp , which fell more than 3% Wednesday. ITB has also outperformed in the year to date, rising 21% compared to XHB’s 16.3% gain. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
- The Wall Street Journal: Simon & Schuster may be bought by Penguin Random House parent - November 24, 2020
- MarketWatch First Take: HP, Dell results buoyed again by work-from-home trend, but are they sustainable? - November 24, 2020
- : Biden says immigration bill, overturning Trump’s executive orders will be priorities in first 100 days - November 24, 2020