IEZ - Bank of America is bullish on energy ETFs amid inflation and Ukraine fighting

Betting that inflation and geopolitical concerns will continue to drive the sector higher, Bank of America said Tuesday that it is structurally bullish on energy-based exchange traded funds. In making the call, the firm presented an investment framework built around inflation, income, and international strife. Jared Woodard, Investment & ETF Strategist at BofA, stated in a note that "a tight oil market and a commitment to shareholders suggests to us that energy ETFs are in the early stages of a secular uptrend." BofA broke down their energy ETF focus area into four specific segments: energy majors, exploration & production ETFs, MLPs, and services & equipment funds. Regarding the energy major ETFs, BofA placed its top pick with Energy Select Sector SPDR ETF (NYSEARCA:XLE), saying the fund offers investors a full sector exposure. Moreover, the fund is +37.4% in 2022 and is the largest energy ETF with $38.9B assets under management. Exploration and

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Bank of America is bullish on energy ETFs amid inflation and Ukraine fighting