Despite large differences in performance across sectors and industries, the stock market had a good month in June, with the S&P 500—as measured by the SPDR S&P 500 ETF Trust SPY—gaining 3.2%.
Last month, as measured by the Technology Select Sector SPDR Fund XLK, the technology sector had the best performance out of the eleven S&P 500 sectors, increasing by 7.7 percent and posting the best monthly gain thus far this year.
With a 6.3% decline, the Utilities Select Sector SPDR Fund XLU had its worst month since September 2023, a sharp contrast to the utilities sector.
Stocks Tracking Industry Performance in June
Regarding monthly gains among sector ETFs, the leader is the iShares Expanded Tech-Software Sector ETF (IGV), which surged 11.3%.
The VanEck Semiconductor ETF SMH followed closely after, increasing 8.4 percent, indicating robust momentum in the semiconductor industry.
Symbolic of the phenomenal rise in AI-driven equities, the VanEck Semiconductor ETF has risen an incredible 87% from its October 2023 low and more than 200% from its October 2022 high.
After a 4% increase, the SPDR S&P Biotech ETF XBI moved up to third place for the month.
Standout performances within the software sector were Adobe Inc. ADBE, which rose by 24.9%, CrowdStrike Holdings, Inc. CRWD, which increased by 22.1%, and Oracle Corporation ORCL, which increased by 20%.
With a 21% increase, Broadcom Inc. AVGO was the leader among chipmakers. Next in line was Qorvo, Inc. (QRVO), which had a rise of 18%, and Universal Display Corporation (OLED), which saw an increase of 19.7%.
The leading chipmakers in terms of performance were Qorvo, Inc. (QRVO), Universal Display Corporation (OLED), and Broadcom Inc. (AVGO), with advances of 18%, 19.7%, and 21%, respectively.
Scilex Holding Company SCLX was the leading gainer in the biotech area, with a 78.8 percent rise. Avidity Biosciences, Inc. RNA had a strong 52% growth, while Alnylam Pharmaceuticals, Inc. ALNY experienced a 63.7% spike.
Industry ETFs That Attracted the Most Money in June
According to Tradingview statistics, the VanEck Semiconductor ETF has attracted over $1 billion and is experiencing its ninth consecutive month of inflows, indicating that it has become a popular pick among investors. The net inflows to the fund so far this year amount to $4.60 billion.
With an inflow of around $480 million in June, the iShares Expanded Tech-Software Sector ETF ended a six-month losing trend and had its best monthly inflow since September 2022. Still, it has lost $1.15 billion in net flows so far this year.
Strong investor interest was evident last month as the iShares Biotechnology ETF (IBB) received $148 million in inflows. The Global X Copper Miners ETF COPX, which represents an industry that is also seeing strong inflows, brought in over $130 million.