As of Sept. 30, the Utilities Select Sector SPDR ETF (NYSE: XLU) had a total return year-to-date of 30.5%. If it holds on to these gains for the remaining months in 2024, it will be the sector's best annual return in the past decade.
Investor's Business Daily reported comments from Bespoke Investment Group that states, 'Stocks in the utilities sector are easily the closest to their 52-week highs, while energy stocks are in the biggest drawdowns at down 17.6%.'
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