Telecom Sector Remains Buoyant
While the current stock market correction has brought most sectors down, at least one has held up better than the rest.
The telecom sector has experienced less of a decline than the overall market over the past four weks. The Dow Jones U.S. Telecommunications Sector Index Fund (IYZ) is down less than 5% since April 23 compared to a more than 10% decline for the SPDR S&P 500 (SPY) over the same time period.
IYZ tracks an index that measures the performance of the telecommunications sector of the U.S. equity market, including fixed-line communications and wireless communications. Top holdings include AT&T, Verizon and Sprint.
Sprint has done especially well in the past month, up over 20% with the launch a of new 4G wireless phone and rumors that the wireless carrier may be next in line to offer Apple's iPhone.
IYZ has an expense ratio of 0.48% and a 30 day SEC yield of 3.55%.
For more investing choices, see the list of sector ETFs.
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