Sector ETFs had a catastrophic February, with only one fund recording positive returns. The iShares NASDAQ Biotechnology ETF (IBB) was up 0.33%, the best performance among sector ETFs. The next-closest fund in terms of performance was the First Trust Dow Jones Internet Index Fund (FDN), which was down 5.04%, followed by the iShares U.S. Telecommunications ETF (IYZ), down 5.31%. The worst performers were mostly in the energy sector, with the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) down 19.50%, the iShares U.S. Oil Equipment & Services ETF (IEZ) down 18.30% and the Invesco Dynamic Leisure and Entertainment ETF (PEJ) down 14.48%. Flows were fairly lacking in drama though: The Consumer Staples Select Sector SPDR Fund (XLP) gained more than any other sector ETF, pulling in $1.1 billion. Meanwhile, the Vanguard Real Estate ETF (VNQ) and XOP gained $732.5 million and $600.4 million, respectively. The Financials Select Sector SPDR Fund (XLF), at the other end of the spectrum, lost $1.8 billion, followed by the Consumer Discretionary Select Sector SPDR Fund (XLY), which was down $1.1 billion, and the Industrial Select Sector SPDR Fund (XLI), which dropped by just over $1 billion.
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Sources: Bloomberg and FactSet. Data from 01/31/2020 to 02/29/2020. ETFs chosen to represent each sector based on the most liquid ETF in each segment of the ETF.com ETF Classification System.