Defense ETFs rally as investors re-position for post-COVID world

/ / News

Exchange-traded funds focused on aerospace and defense took flight on Tuesday, putting them on track for their best week in six months as investors attempted a rotation to segments of the market that will have farther to run in a new business cycle. The SPDR S&P Aerospace and Defense ETF and the iShares U.S. Aerospace and Defense ETF were both up 10.2% through midday Tuesday, their best weekly showing since June 5. Anchor holdings like Boeing Corp and Raytheon Technologies were up 6% and 4%, respectively, helping boost the Industrial Select Sector SPDR Fund to the best showing among all 11 sector trackers.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.