Tech Sector ETF Sees $8.7 Billion in Outflows, Worst in S&P 500
The technology ETF XLK recorded the largest sector outflows in the S&P 500 over the past month at -$8.7 billion, while financials, healthcare, and utilities attracted inflows. Tech was the worst-performing sector, falling 5.4%.
Aggressive selling has hit technology stocks, with the XLK ETF posting $8.7 billion in outflows over the last month—the largest withdrawal of any S&P 500 sector. This shift is part of a broader rotation.
In contrast, the financial sector ETF XLF attracted $2.1 billion in inflows, the highest among all sectors. Healthcare XLV and utilities XLU also saw gains, with inflows of $800 million and $600 million respectively.
Over the same period, healthcare, energy, and financial ETFs were the best performers, gaining 7.4%, 6.3%, and 4.5%. Meanwhile, XLK fell 5.4%, making it the worst-performing sector.
Source: The Kobeissi Letter