Utilities Select Sector SPDR Fund (XLU) employs a replication strategy to track the Utilities Select Sector Index. The fund provides exposure to the U.S. utility sector, a stock market space known for relatively low volatility and relatively high distribution yields.
The Federal Reserve announced another 75-basis-point interest rate hike and indicated that it would likely dish out more aggressive rate hikes to tame the worst inflation in decades. This has raised recession concerns.
