🔴 SPHD is trading 5.4% down today as elevated Treasury yields pressure high-dividend stocks

SPHD is trading at $47.15 (-5.4%) as elevated Treasury yields and income-stock rotation pressure high-dividend defensive holdings.

• The 30-year Treasury yield is holding near multi-year highs and the 10-year remains above 4.6%, making bond yields more competitive against rate-sensitive income ETFs.
• Investors are rotating out of defensive positions and exercising caution ahead of major macro catalysts, including Nvidia’s earnings results scheduled for later today.