SPY - Home construction ETF hits record trading high and doubles the returns of the S&P 500

The iShares U.S. Home Construction ETF (BATS:ITB) hit an all-time trading high on Monday and has now topped new levels in Tuesday’s pre-market trading. ITB is +1.8% and has touched $82.37 a share. ITB has rallied +47.8% YTD, which is more than double of the benchmark SPDR S&P 500 Trust ETF (NYSEARCA:SPY) which has returned +22.7% YTD. ITB is an ETF that provides exposure to the U.S. homebuilding industry and manufacturing of residential homes. The fund has top-weighted exposure in stocks such as D.R. Horton (NYSE:DHI) at 14.2%, Lennar Corporation (NYSE:LEN) weighted at 13.17%, and NVR (NYSE:NVR), which has a weighting of 7.91%. Moreover the fund is equipped with $3B assets under management and an expense ratio of 0.41%. ITB has been supported by the continued demand for new home development amongst global supply chain issues.  ITB is not the only homebuilder exchange traded fund rising to the top. The SPDR Homebuilders ETF (NYSEARCA:XHB), Invesco Dynamic

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Home construction ETF hits record trading high and doubles the returns of the S&P 500