XLC - As Facebook and Google went so went communications services names in Q3

Communications Services stocks logged Q3 gains in the continuing recovery from the spring's pandemic market lows - but they trailed faster-moving sectors, and as a group ended up mostly keeping pace with the broader market. The Communication Services Select Sector SPDR Fund (XLC) rose just about 10% for the quarter, in line with the S&P 500. In large part that can be credited to the small, top-heavy sector's top part playing a big part in broader market gains: Nearly half of [[XLC]] (which claims about $11.08B in net assets overall) is tied up in just two companies: Facebook (FB), weighted at 22.7% of the ETF, and Google ([[GOOGL]] Class A at 11.3%, and [[GOOG]] Class C at 11.06%), for a combined 45% in holdings. And Facebook's near-18% gains for the past quarter helped mitigate slower appreciation at the Google share classes ([[GOOG]] +5.4%, [[GOOGL]] +4.8%). Twitter (TWTR) was the top

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As Facebook and Google went, so went communications services names in Q3