SPMO is trading 2.1% down today as its tech-heavy portfolio faces a sector-wide pullback driven by growth-to-value rotation and rising yields.
- Information technology, representing over half of the ETF, is underperforming the broad market as investors rotate out of AI and growth names.
- Semiconductor stocks like NVIDIA are under pressure following the Trump–Xi summit's failure to ease export curbs.
- Renewed inflation worries and higher bond yields are intensifying the risk-off move across major indices.