The iShares Dow Jones Transportation Average Index Fund (NYSE:IYT) underperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a dollar basis, producing a -1.41% one-day return and trailing the wider markets by a total of 1.4 percentage points.
Behind The Losses
IYT closed today at $165.40 per share, down $2.37 (-1.41%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed down $0.02 (-0.01%) on the day.
IYT’s trading volume today was a total of 530,150 shares, which was an increase of 63% versus its average daily trading volume of 325,772. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.
Including any dividends as well as today’s losses, IYT has still gained 1.57% year-to-date, versus a 1.79% gain in the S&P 500 during the same timeframe.
A Look Under The Hood
iShares Dow Jones Transportation Average Index Fund is a Equity-focused product issued by BlackRock. Its expense ratio of 0.43% makes it the #15 cheapest ETF among 30 total funds in the Industrials Equities ETFs category.
IYT currently boasts $1.07B in assets under management (AUM), placing it #7 of 30 ETFs in its category, and #281 of 1922 total ETFs in the U.S. exchange traded universe.
The investment objective of the iShares Dow Jones Transportation Average Index Fund ETF seeks to track the investment results of an index composed of U.S. equities in the transportation sector. Transports have been slammed the past couple of days amid a Trump travel ban, resulting global protests, and a massive Delta technical glitch that led many planes grounded.
IYT SMART Grade
IYT currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #7 of 32 funds in the Industrials Equities ETFs category.
For more information about this ETF, including full ratings, news, data, and more, please visit IYT’s ticker page.