XLE: Energy ETF hits 2-month high as oil prices surge – how top holdings are performing

The largest energy exchange-traded fund by assets reached its highest price in two months Thursday, with oil futures spiking up after oil producer Iran launched a retaliatory missile attack against Israel this week.

The Energy Select Sector SPDR ETF (XLE) climbed as much as 1.7% to $92.22, the strongest price since August 1. State Street’s $36.75B fund holds 22 companies in the oil, gas, and fuel equipment and services industries.

The ETF was bid up alongside a jump in WTI oil (CL1:COM) as well as Brent crude futures (CO1:COM). Prices jumped +5% during the session after U.S. President Joe Biden said the option of Israel striking Iran’s oil facilities was under discussion. Markets were waiting for Israel’s response to Iran’s launching ~200 missiles against Israel on Tuesday after Israel killed Hezbollah leader Hassan Nasrallah in a Beirut airstrike last week.

Brent crude (CO1:COM) traded above $77/bbl and WTI oil (CL1:COM) edged near $74/bbl on Thursday. The (XLE) ETF has climbed 5% since October trade started, coming off two straight months of losses.

Here’s how the ETF’s 10 top holdings have performed since October started, through Thursday afternoon trade:

• Exxon Mobil (XOM) – +4.4%. Fund weight: 23.42%
• Chevron (CVX) – +3.1%. Fund weight: 15.39%
• ConocoPhillips (COP) – +6.5%. Fund weight: 7.68%
• Schlumberger (SLB) – +6.7%. Fund weight: 4.54%
• EOG Resources (EOG) – +6.4%. Fund weight: 4.51%
• Williams Companies (WMB) – +5.7%. Fund weight: 4.22%
• Phillips 66 (PSX) – +5.5%. Fund weight: 4.09%
• Marathon Oil (MRO) – +6.8%. Fund weight: 4.02%
• Oneok (OKE) – +4.1%. Fund weight: 3.97%
• Kinder Morgan (KMI) – +5.7%. Fund weight: 3.22%