Communications ETFs lead S&P sectors Thursday as Facebook, Charter Communications power higher

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Exchange-traded funds with communications services stocks outperformed on Thursday as investors reached for the certainty of companies that will benefit from an extended period of working from home. The Communications Services Select Sector SPDR Fund was up 0.9% at midday, the best performer among 11 exchange-traded funds that track the sectors of the S&P 500 . The Vanguard Communications ETF was up 0.8%, and the Fidelity MSCI Communications Services Index ETF gained 0.7%. On Thursday, the S&P 500 was down fractionally and the Nasdaq Composite was up 0.3%. The three funds have very similar compositions: hefty holdings in Facebook Inc. , Alphabet Inc. Class C and Class A , and big chunks of shares of service providers like Verizon Inc. and Comcast Corp , all of which were higher on Thursday. The SPDR fund, the biggest of the three, has returned the most in the year to date: 21%. That trails the Nasdaq’s 24% gain during that time.
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