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Though SPDR material-focused ETF (NYSEARCA:XLB) managed to gain just 4.79% through 2024 against the broad-based index ETF (SPY) of 15.08%, almost 80% of the tickers in the sector ETF managed to peak in value over the last year.
From the end of 2023 through June 20, 22 of the 28 stocks in the S&P 500 Material sector hit 52-week highs, while 5 stocks hit 52-week lows over the period of almost 6 months.
As per the industry groups, 11 stocks from chemicals, 2 from construction materials, 4 from containers & packaging and 3 metals & mining hit 52-week high, while 4 from the chemical and 1 from the metal and mining hit a 52-week low.
Among basic materials, International Paper (NYSE:IP) has gained the most this year, climbing about 27% from the end of 2023. Also in the same sector, WestRock (NYSE:WRK) and Ecolab (NYSE:ECL) all saw gains of over 20% since the end of 2023.
Industries breakdown
The S&P 500 Materials Index Sector (SP500-15), the index tracked by SPDR Material ETF (XLB), gained 3.87% during the year. The industry components, S&P 500 Chemicals Index Industry (SP500-101010), that contributes 65.7% to the index, gained 2.20%, S&P 500 Construction Materials Index Industry (SP500-151020) +8.38%, S&P 500 Containers & Packaging Index (SP500-151030) added 12.71%, S&P 500 Metal & Mining Index (SP500-151040) climbed 4.52%.
Seeking Alpha Editor Deepa Sarvaiya contributed to this story.