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Both Exxon and Chevron will release earnings Friday, Jan. 31.
"So in the context of that, the model has identified, Chevron and Exxon as being companies that are eliminated from the index and therefore from the fund. Particularly in the case of Exxon, actually, interestingly enough, this is the second-worst company from a performance perspective in the model over the hundred billion dollar market cap range. The only company that's worse than this, according to the model, is GE or General Electric. So the problem specifically with Exxon as being just lackluster revenue growth and generally speaking and declining--obviously--revenue growth in a market where the stock market more broadly has performed well. Obviously, another metric that we look at is management performance and management performance has not been great," explained Rhind.
Curious about why Chevron was removed? Watch the video above for more.
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