The Vanguard Telecommunication Services ETF (NYSE:VOX) underperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a -1.37% one-day return and trailing the wider markets by a total of 2.01 percentage points.
Behind The Gains
VOX closed today at $100.11 per share, down $1.39 (-1.37%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $1.45 (+0.64%) on the day.
VOX’s trading volume today was a total of 206,235 shares, which was a decrease of 23% versus its average daily trading volume of 269,122. 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, VOX has now fallen a total of -0.04% year-to-date, versus a 1.82% gain in the S&P 500 during the same timeframe.
A Look Under The Hood
Vanguard Telecommunication Services ETF is a Equity-focused product issued by Vanguard Group. Its expense ratio of 0.10% makes it the #3 cheapest ETF among 52 total funds in the Technology Equities ETFs category. Vanguard is known for is ultra low expense ratios.
VOX currently boasts $1.48B in assets under management (AUM), placing it #6 of 52 ETFs in its category, and #230 of 1922 total ETFs in the U.S. exchange traded universe.
The investment objective of the Vanguard Telecommunication Services Sector ETF seeks to track the performance of a benchmark index that measures the investment return of stocks in the telecommunication services sector, which include companies that provide telephone, data-transmission, cellular, or wireless communication services.
VOX’s outsized exposure to AT&T (NYSE:T) and Verizon (NYSE:VZ), down 1.5% and 4.4% today, respectively, are to blame for its unusual daily decline.
VOX SMART Grade
VOX currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #6 of 54 funds in the Technology Equities ETFs category.