PSX - Energy Companies' Big Problem? There's No Moat
According to Fidelity Investments, the energy sector once again finds itself at the very bottom in terms of one-year performance: Down more than 2x as compared to the S&P 500:
Source: Fidelity Investments
But most investors - especially those in the energy sector - know this is nothing new. Over the past 10 years, the S&P 500 is up 185% as compared to the Energy Select SPDR (XLE) ETF - a broad-based benchmark for the energy sector - which is up only 15%:
Source: Yahoo Finance
Some of the traditional energy sector bellwethers