Procter & Gamble (PG - Get Report) fell 3.5% early today, dragging Consumer Staples Select Sector SPDR (XLP) down 1.16% with it. P&G's slide comes in the wake of a fiscal fourth-quarter earnings drop of 18% from the previous year. Revenue in the fourth quarter fell 2.23% from the year before.This moment is a teachable one for ETF investors who flock to funds like XLP to avoid security-specific risk. P&G accounts for more than 16% of XLP's assets, an allocation that will surely sway the ETF. Capitalization-weighted strategies, favored by issuers like State Street (STT) and i Shares, can often overweight top components when executing their strategies.
Procter Bullies Consumer Staples ETF
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