FHLC - These defensive ETFs have hit record highs as a potential recession looms

Wall Street has been on edge lately, with financial markets roiled by a host of factors: yield curve inversion, rising inflation, rate hikes, a possible recession and geopolitical tensions. In this environment, it’s no surprise that exchange traded funds focused on defensive stocks have become popular, pushing several to all-time record highs. In particular, investors have poured into utilities, consumer staples and health care sector funds, looking for safety in an uncertain market. Three defensive ETFs that have set record trading highs are the Utilities Select Sector SPDR ETF (NYSEARCA:XLU), Consumer Staples Select Sector SPDR ETF (NYSEARCA:XLP), and the Health Care Select Sector SPDR ETF (NYSEARCA:XLV). XLU is the world’s largest utilities-based ETF with more than $15B assets under management and 30 key holdings. The fund's top position is in NextEra Energy (NEE), weighted at 15.83%. Additionally, the ETF also is +8.5% in 2022 and has attracted $1.2B in investor flows for

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These defensive ETFs have hit record highs as a potential recession looms