Figure 5
Panel A: “Top three performing sector E T Fs for the period 2015 to 2023”. The vertical axis has markings labeled from top to bottom as follows: “Technology E T F”, “Domestic Energy E T F”, and “Domestic Financial E T F”. The bar values are labeled as follows: Technology E T F: 0,000 percent. Domestic Energy E T F: 0,000 percent. Domestic Financial E T F: 0,000 percent. The Technology E T F bar is the longest, followed by Domestic Energy E T F, and then Domestic Financial E T F as the shortest. Panel B: “Top three performing sector E T Fs for the period 2015 to 2019”. The vertical axis has markings labeled from top to bottom as follows: “Technology E T F”, “Domestic Real Estate E T F”, and “Utilities E T F”. The bar values are labeled as follows: Technology E T F: 0,000 percent. Domestic Real Estate E T F: 0,000 percent. Utilities E T F: 0,000 percent. Technology E T F again has the longest bar. Domestic Real Estate E T F is the second longest, and Utilities E T F is slightly shorter than Domestic Real Estate E T F. Panel C: “Top three performing sector E T Fs for the period 2020 to 2023”. The vertical axis has markings labeled from top to bottom as follows: “Technology E T F”, “Domestic Energy E T F”, and “Domestic Financial E T F”. The bar values are labeled as follows: Technology E T F: 0,000 percent. Domestic Energy E T F: 0,000 percent. Domestic Financial E T F: 0,000 percent. Technology E T F has the longest bar, Domestic Energy E T F is the second longest, and Domestic Financial E T F is the shortest. Note: All numerical data values are approximated.Top three performing sector ETFs. Sectors ETFs are ranked according to the Alpha estimate from the six-factor model (Fama and French, 2018) which is used as a performance measure