Tech-related ETFs’ reassertion of dominance help deepen double-digit year-to-date returns

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The exchange-traded fund tracking the tech sector of the S&P 500 led the market Friday as investors continued to reward proven winners. The Technology Select Sector SPDR fund rose 0.9% in the late morning, the biggest gain among 11 sectors. Despite occasional swivels toward beaten-down corners of the market that are likely to do better in a growing economy, like industrials or banks , tech stocks, which can support a working-from-home economy, remains the choice of investors. The tech Sector SPDR fund is up 27% in the year to date. On Friday, an ETF that tracks stocks with a value bias, the iShares MSCI USA Value Factor ETF, was down 0.2%, and has lost 17% in the year to date. The corresponding fund for the momentum trade was up 0.2% on Friday, and has gained 17% in the year so far.
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