Will Utility ETFs Keep Gaining on Decent Q3 Earnings Results?
Zacks Investment Research | Nov 10, 2021 12:12AM ET
The utility sector has come up with mostly encouraging results so far this earnings season. Of the 53.6% S&P companies in the sector that have reported, 58.9% beat bottom and top-line estimates. For these companies, earnings rose 1.5% while revenues increased 9.4% year over year, per the IDU
The fund tracks the Russell 1000 Utilities RIC 22.5/45 Capped Index, providing exposure to U.S. companies that supply electricity, gas, and water. It comprises 43 holdings, with the above-mentioned companies constituting 26.9%. Its AUM is $835.1 million and expense ratio is 0.41%. It has gained around 0.7% since Oct 19 (as of Nov 8). The fund carries a Zacks ETF Rank of 3, with a Medium-risk outlook.
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