Many popular funds that hold stocks of companies that dabble in relatively low risk areas, such as selling toothpaste or making beverages, were falling Wednesday afternoon.
The Consumer Staples Select Sector SPDR Fund, popularly known by its ticker XLP, was down 0.4%. Colgate-Palmolive, PepsiCo, Walmart, and Costco are among its top holdings.
State Street’s S&P Dividend ETF was also falling. People invest in dividend ETFs because companies in such funds regularly pay investors a slice of their profit.
www.barrons.com
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