US Energy ETFs Take a Hit as Major Oil and Gas Stocks Decline

On June 20, 2023, the US Energy ETF market suffered a -2.07% dip, signaling a tough day for investors.

On June 20, 2023, the US Energy ETF market suffered a -2.07% dip, signaling a tough day for investors. This market, valued at €1 billion and made up of four ETFs, was affected by a number of companies that saw a decline in daily and weekly returns.

The Xtrackers MSCI USA Energy UCITS ETF (XUEN), SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE), and iShares S&P 500 Energy Sector UCITS ETF (IUES) witnessed -2.25%, -2.27%, and -2.29% daily returns respectively. The decline was driven by companies such as PHILLIPS 66 ORD (PSX), DEVON ENERGY ORD (DVN), VALERO ENERGY ORD (VLO), and CONOCOPHILLIPS ORD (COP), which saw drops in daily and weekly returns ranging from -1.33% to -4.21%. These numbers reflect the overall movement of the US Energy ETF market, leaving investors to assess their strategies moving forward.

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