FORBES | In 2020, the energy sector got hit with the triple-whammy of a price war between Saudi Arabia and Russia, demand destruction as a result of the Covid-19 pandemic, and perceptions that oil is about to give up its dominance to renewable energy and electric vehicles. Those factors combined to send the energy sector reeling in 2020.
The Energy Select Sector SPDR ETF (XLE) tracks an index of energy companies in the S&P 500. The XLE represents the stocks of large energy companies from different sub-sectors (e.g., integrated, oil production, equipment services). It is, therefore, a good benchmark for conservative energy investors. Some of the XLE’s biggest holdings are ExxonMobil XOM -0.9%, Chevron CVX -1%, ConocoPhillips COP -0.1%, EOG Resources EOG -1.4%, and Schlumberger SLB -0.2%.
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