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XES - SPDR S&P Oil & Gas Equipment & Services ETF

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XES - SPDR® S&P Oil & Gas Equipment&Svcs ETF

XES is an option for investors interested in the world of wildcatting and drilling hardware & services. The fund covers the oil & gas equipment and services along with the oil & gas drilling sub-industry of the S&P Total Market Index, an index that tracks the broad US equity market. Companies should meet certain market-cap and liquidity requirements in order to be included in the fund’s final portfolio. Selected securities are then equally-weighted, with liquidity constraints applied. Overall, the fund’s equal-weighting strategy provides widespread industry exposure to all market capitalizations, which can be appealing in a top-heavy industry, but it comes with a side-helping of increased market risk. The fund’s narrow portfolio may change significantly at each quarterly rebalance.