The S&P 500 Industrial Index (SP500-20) sector reversed its Q2 loss and was sharply higher in Q3, with the index being the third-largest gainer among the 11 sectors. S&P 500 Industrial Index (SP500-20) gained 11.15% during the quarter along with its accompanying ETF, The Industrial Select Sector SPDR Fund ETF (NYSEARCA:XLI) gaining 11.13% almost double from the S&P 500 benchmark index gain of 5.53%.
Industries Q3 Performance
Among Industries, S&P 500 Capital Goods Index (SP500-2010), which contributed highest to the index gained 13%, S&P 500 Commercial Professional Services Index Industry (SP500-2020) climbed 9% and S&P 500 Transportation Index (SP500-2030), which includes airlines, is up 5%.
Fund Flows
Image Source: etfdb.com
XLI has $19.62 billion in assets under management as of September 30, 2024. XLI registered net outflows of $446.13M during Q3.
Top gainers
GE Vernova (NYSE:GEV) +48.67%.
Builders FirstSource (NYSE:BLDR) +40.06%.
Stanley Black & Decker (NYSE:SWK) +37.85%.
Axon Enterprise (NASDAQ:AXON) +35.81%.
3M (NYSE:MMM) +33.77%.
Top losers
Boeing (NYSE:BA) -16.47%.
FedEx (NYSE:FDX) -8.72%.
Jacobs Solutions (NYSE:J) -6.31%.
PACCAR (NASDAQ:PCAR) -4.14%.
Copart (NASDAQ:CPRT) -3.25%.
What Quantitative Measures Say
Seeking Alpha's Quant Rating system gives Industrial Select Sector SPDR Fund ETF (XLI) a Buy rating, with a score of 4.14 out of 5, boosted by A+ ratings in its liquidity, A for momentum, expenses, and dividends categories. Notably, the ratings' system sees risk as a threat and assigns the ETF a grade of D in this category.
What Analysts Expect
Seeking Alpha analysts gave (XLI) a Buy rating with a quant score of 4.0.
