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Sunday, August 23, 2026The Morning Brief →Sign in
XLCSPDR

Communication Services Select Sector SPDR Fund

$111.40+0.65% today
10512052-WK

Normally, the fund generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies that have been identified as Communication Services companies by the GICS®, including securities of companies from the following industries: diversified telecommunication services; wireless telecommunication services; media; entertainment; and interactive media & services. The fund is non-diversified.

Price & daily flows
116.9112.7108.5111.40DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN · NET −$2.6B OVER THIS RANGE

The desk’s read

Money is leaving — −$342M walked out over the past month, about 1.5% of the fund's asset base, while the price has returned -4.7% so far this year. At 0.090% a year, nothing comparable on our shelf runs cheaper.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$22.3Bassets under management
0.090%expense ratio · $9 per $10,000 a year
−$342Mnet flow, trailing month
5.5Mavg daily volume, 30 days
22holdings · US-domiciled
2018listed June 17, 2018 · beta 0.68
The book at a glance
META+0.7%GOOGL+1.2%GOOG+1.0%T+0.6%VZ+0.5%CMCSA+1.6%DIS+0.4%NFLX-0.7%WBD+1.1%TMUS+1.0%OMC+0.5%LYV-0.1%TTWO-0.2%FOXA+0.9%CHTR+1.6%TKO-1.2%ECHO-0.1%NWSA+2.5%FOX+1.0%TTD-1.1%EA4.6%

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1METAMETA17.30%$549.90+0.7%
2GOOGLALPHABET11.37%$344.82+1.2%
3GOOGALPHABET9.06%$341.75+1.0%
4TAT&T4.38%$25.29+0.6%
5VZVERIZON COMMUNICATIONS4.43%$49.45+0.5%
6CMCSACOMCAST4.63%$26.85+1.6%
7DISWALT DISNEY4.51%$107.78+0.4%
8NFLXNETFLIX4.48%$79.59-0.7%
9WBDWARNER BROS DISCOVERY4.55%$28.55+1.1%
10TMUST-MOBILE US4.45%$183.04+1.0%
11OMCOMNICOM GROUP3.91%$87.54+0.5%
12LYVLIVE NATION ENTERTAINMENT4.61%$181.82-0.1%
13TTWOTAKE TWO INTERACTIVE 4.69%$239.62-0.2%
14FOXAFOX1.96%$68.54+0.9%
15CHTRCHARTER COMMUNICATIONS2.24%$150.17+1.6%

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Sector weights
Communication Services100%
Technology Services64.35%
Consumer Services19.54%
Communications12.35%
Commercial Services3.71%
Other0.08%
Mutual fund0.05%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-1.4%
1 month+5.7%
3 months-3.5%
6 months-2.8%
YTD-4.7%
1 year+0.1%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week−$21M
1 month−$342M
3 months−$1.9B
YTD−$3.2B
1 year−$2.6B

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
SepOctNovDecJanFebMarAprMayJunJulAug
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
21%realized volatility, 30 days (annualized)
15%realized volatility, 1 year
-12.2%deepest fall from a peak, 1 year
-7.2%where it sits vs. that peak today

The top holding is 17.3% of the book; the top ten carry 70%. Spread across 25+ names, it behaves like roughly 14 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
1Kcalls today
190puts today
0.15put/call ratio
4.7Mshares traded
Most-traded holdings, options premiumBullishBearish
META META$149M$145M
GOOGL ALPHABET$65M$62M
GOOG ALPHABET$53M$52M
NFLX NETFLIX$25M$24M
ECHO EchoStar$1M$8M

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

The case against XLC

Due diligence cuts both ways. These funds sit on the same shelf and beat XLC on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
IDEV iShares Core MSCI International Developed Markets ETF0.04%$32.7B+$104M-5bp on fee · +$104M in over the monthHead-to-head
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF0.04%$23.4B+$520M-5bp on fee · +$520M in over the monthHead-to-head
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF0.04%$18.7B+$312M-5bp on fee · +$312M in over the monthHead-to-head
IEFA iShares Core MSCI EAFE ETF0.07%$193.2B+$631M-2bp on fee · 9× the assets · +$631M in over the monthHead-to-head
IGLB iShares 10+ Year Investment Grade Corporate Bond ETF0.04%$2.8B+$220M-5bp on fee · +$220M in over the monthHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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