Airlines ETF Has Crash Landed

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July 21, 2016 10:14am NYSE:JETS

commercialairlinerEven as the Dow pushes to all-time highs, the U.S. Global Jets ETF (NYSE:JETS) has underperformed. Here are some big reasons why JETS continues to pull back today.

A quick look at the major airlines yields a sea of red:

  • Southwest (LUV) – Down 9.85% ahead of 12:30 earnings call today.
  • Spirit Airlines (SAVE) – Down 3.69% on continued fallout from weak guidance.
  • United Continental (UAL) – Down 2.48%, being dragged down by peers.
  • Delta (DAL) – Down 2.81%, also being hit by weak peer performance.
  • American Airlines (AAL) – Off 2.62%

The list of declining airliners goes on and on. Investors continue to sell the airline sector, and JETS is paying the price.

JETS has now fallen 9.35% year-to-date, badly underperforming the S&P 500, which has gained 6.22%. JETS is the largest airline ETF, boasting close to $50 million in assets.

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