Published on 13 Sep 2023 on Zacks via Yahoo Finance
The Technology Select Sector SPDR ETF (XLK) was launched on 12/16/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Broad segment of the equity market.
An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 9, placing it in bottom 44%.
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