Healthcare Stocks Underperform in September with XLV Down as Medtech Struggles
In September, healthcare stocks lagged behind the broader market. The Health Care Select Sector SPDR Fund (XLV) dropped by 1.89%, while the S&P 500 ETF Trust (SPY) rose slightly by 0.27%. This underperformance was observed across various sub-sectors including medical devices and healthcare equipment. Despite overall weakness, some companies like Moderna and Illumina managed to post gains in the sector during this period. The decline of XLV highlights a broader trend where investors may have shifted their focus away from healthcare stocks due to concerns or market dynamics affecting medtech firms specifically.
Tickers: $ILMN $MRNA $SPY $XLV