Utilities — not tech — are now the hottest trade on Wall Street, according to Bank of America.
"Note that the total return of S & P 500 Utilities (the 'tortoise') has been in line with Nasdaq's (the "hare') over the long term."
Vanguard Utilities ETF (VPU) , a $6.4 billion market cap-weighted fund, has a total return of 22%.
The iShares U.S. Utilities ETF (IDU) , with $1.4 billion in assets, has a 22% total return.
Invesco S & P 500 Equal Weight Utilities ETF (RSPU) , an equal-weighted fund with just $317 million in assets, has a roughly 20% total return in 2024.
Persons:
Savita Subramanian, Subramanian, —, Invesco, Jesse Pound
Organizations:
Bank of America, Federal Reserve, Utes, Utilities, Vanguard Utilities, U.S . Utilities, Fidelity MSCI Utilities
Locations:
U.S