11 Sectors Tracked
2026-05-14 Tracking Since
Day 27 of Daily Monitoring
2026-06-09 Current Date

Alpha vs SPY, since launch

+2.82%

Vega total return minus SPY total return. Positive means Vega is ahead of the index.

Vega NAV 100.44
SPY NAV 97.62

Both NAVs start at 100 on the pilot launch date.

11 sectors

Current sector calls

Each card: SPY weight, plus Vega's tilt, equals Vega's target weight. Conviction and valuation on the side.

XLBMaterialsMAINTAINING
Conviction60.9
Vega viewNEUTRALValuationCheap by EV/EBITDA
SPY weight1.8%
+ Tilt-0.06 pp
= Target1.8%
Current weight (drives NAV)1.8%vs target +0.03 pp
XLEEnergySTRONG
Conviction74.8
Vega viewOVERWEIGHTValuationNeutral by EV/EBITDA
SPY weight3.3%
+ Tilt+0.22 pp
= Target3.5%
Current weight (drives NAV)3.5%vs target -0.02 pp
XLFFinancialsMAINTAINING
Conviction60.3
Vega viewUNDERWEIGHTValuationExpensive by P/B
SPY weight11.6%
+ Tilt-0.43 pp
= Target11.2%
Current weight (drives NAV)11.2%vs target +0.05 pp
XLIIndustrialsSTRONG
Conviction65.2
Vega viewNEUTRALValuationCheap by EV/EBITDA
SPY weight8.5%
+ Tilt-0.02 pp
= Target8.5%
Current weight (drives NAV)8.5%vs target +0.04 pp
XLPConsumer StaplesMAINTAINING
Conviction53.8
Vega viewUNDERWEIGHTValuationNeutral by P/E
SPY weight4.7%
+ Tilt-0.39 pp
= Target4.3%
Current weight (drives NAV)4.3%vs target +0.04 pp
XLREReal EstateMAINTAINING
Conviction57.5
Vega viewUNDERWEIGHTValuationCheap by Price/FFO
SPY weight1.8%
+ Tilt-0.11 pp
= Target1.7%
Current weight (drives NAV)1.8%vs target +0.05 pp
XLUUtilitiesMAINTAINING
Conviction62.0
Vega viewNEUTRALValuationCheap by P/E
SPY weight2.1%
+ Tilt-0.05 pp
= Target2.1%
Current weight (drives NAV)2.1%vs target +0.05 pp
XLVHealth CareMAINTAINING
Conviction61.8
Vega viewUNDERWEIGHTValuationCheap by P/E
SPY weight8.7%
+ Tilt-0.23 pp
= Target8.4%
Current weight (drives NAV)8.4%vs target +0.02 pp

SPY mix and Vega tilt

Where Vega is above or below SPY

SPY sector weight, Vega's tilt, Vega target weight, and Vega's current weight.

SPY sector weight + Tilt = Vega target weight. Target weight is where Vega wants to be today after applying its sector tilt. Current Vega weight is where the portfolio actually sits today; it can lag the target because Vega only rebalances when the gap is wide enough (rebalance band: 5 pp). Vega NAV is compounded using the current weight, so headline alpha vs SPY reflects executed positioning, not the model's intended target.

SectorSPY sector weightTilt vs SPYVega target weightCurrent Vega weightVega viewConvictionValuation
MaterialsXLB1.8%-0.06 ppLess than SPY1.8%1.8%NEUTRAL60.9Cheap by EV/EBITDA
Communication ServicesXLC10.1%-0.78 ppLess than SPY9.3%9.5%UNDERWEIGHT54.8Expensive by PEG
EnergyXLE3.3%+0.22 ppMore than SPY3.5%3.5%OVERWEIGHT74.8Neutral by EV/EBITDA
FinancialsXLF11.6%-0.43 ppLess than SPY11.2%11.2%UNDERWEIGHT60.3Expensive by P/B
IndustrialsXLI8.5%-0.02 ppLess than SPY8.5%8.5%NEUTRAL65.2Cheap by EV/EBITDA
Information TechnologyXLK37.8%+3.05 ppMore than SPY40.8%40.5%OVERWEIGHT76.9Cheap by PEG
Consumer StaplesXLP4.7%-0.39 ppLess than SPY4.3%4.3%UNDERWEIGHT53.8Neutral by P/E
Real EstateXLRE1.8%-0.11 ppLess than SPY1.7%1.8%UNDERWEIGHT57.5Cheap by Price/FFO
UtilitiesXLU2.1%-0.05 ppLess than SPY2.1%2.1%NEUTRAL62.0Cheap by P/E
Health CareXLV8.7%-0.23 ppLess than SPY8.4%8.4%UNDERWEIGHT61.8Cheap by P/E
Consumer DiscretionaryXLY9.4%-0.95 ppLess than SPY8.4%8.3%UNDERWEIGHT51.3Cheap by EV/EBITDA

Recent events

Events noted by sector

Score impact is the model's recorded event effect for the sector.

DateSectorEvent notedSourceScore impactSectors affected
2026-06-09XLFDeployment of AI in capital markets operations aims to increase market share and operational efficiency for a top XLF constituent.news+0.001
2026-06-09XLEExpansion of LNG-linked natural gas production supports long-term upstream revenue for the sector's largest constituent.news+2.001
2026-06-09XLYIncreased automation in fulfillment centers improves margins and delivery speed for the sector's largest constituent.news+2.001
2026-06-09XLFStrategic expansion in wealth management and M&A readiness signals long-term fee-based revenue growth for a major capital markets constituent.news+4.001
2026-06-09XLREHeadwinds in the logistics sector impact occupancy and NOI for top constituent Prologis (PLD).news-1.201
2026-06-09XLIStrategic supply deals for next-gen power electronics support GE's aerospace and electrical equipment manufacturing capabilities.news+2.001
2026-06-09XLKRegulatory setbacks for Apple's AI integration in the EU can dampen consumer hardware demand and ecosystem lock-in.news-4.801
2026-06-09XLENetanyahu says war with Iran, Hezbollah isn't over after Tehran says it's halting strikesnews+1.001
2026-06-09XLEOil prices ease after Iran says military operations against Israel are overnews-1.201
2026-06-09XLEGeopolitical tension in the Middle East typically reduces supply expectations, driving up crude spot prices and E&P margins.news+1.401
2026-06-09XLVA major $10.6B M&A deal signals strong biotech funding and strategic pipeline expansion in the oncology sub-segment.news+8.001
2026-06-09XLVHigh-value IPO activity is a leading indicator of biotech R&D capacity and sector-wide funding health.news+4.001
2026-06-09XLFCitigroup (C) Announces Full Redemption of $3.15B in Notes Due 2027 - Yahoo Financenews+1.001
2026-06-09XLIIncreased demand for power generation and construction equipment for data centers directly supports CAT's heavy machinery and electrical equipment segments.news+2.801
2026-06-09XLUState PUC approval of rate settlements directly drives authorized revenue and EPS growth for regulated utilities like PPL.news+1.001
2026-06-09XLVFDA decisions on AbbVie's pipeline are critical for mitigating revenue risks from upcoming patent cliffs.news+0.801
2026-06-09XLCConsolidation between major streaming players impacts content costs and subscription scale, though it faces significant regulatory scrutiny.news-2.401
2026-06-09XLVLilly's dominance in the obesity category is a primary driver for the sector's largest constituent by weight.news+1.001
2026-06-09XLEUS open: Stocks higher as Iran moves to halt strikes on Israel - Sharecast.comnews-2.402
2026-06-09XLYThe rollout of unsupervised robotaxis is a structural shift in Tesla's business model, impacting the auto segment's long-term EPS.news+6.251
2026-06-09XLKApple's major AI software integration and monetization strategy via Siri and iOS/macOS updates directly drive consumer hardware replacement cycles and services revenue.news+6.001
2026-06-09XLKApple partnering with Google and Nvidia for most advanced AI modelnews+1.001
2026-06-08XLYMassive inventory mobilization by BYD and Geely directly impacts global auto sales volumes and competitive dynamics for the auto segment.news-1.201
2026-06-08XLIEngine reliability issues and maintenance backlogs negatively impact engine OEMs like GE Aerospace and disrupt the aircraft delivery cycle.news-3.601
2026-06-08XLBGold prices today, Monday, June 8: Lower to start the week following Israel, Iran missile strikesnews-3.601
2026-06-08XLEUS open: Stocks higher as Iran moves to halt strikes on Israel - Sharecast.comnews-4.801
2026-06-08XLREHeadwinds in the logistics sector impact occupancy and NOI for top constituent Prologis (PLD).news+0.001
2026-06-08XLUState PUC approval of rate settlements directly drives authorized revenue and EPS growth for regulated utilities like PPL.news+5.001
2026-06-08XLREApple shares reverse lower after big Siri news. Why we're not botherednews+1.001
2026-06-08XLKApple gets groovy with macOS 27 Golden Gate; Siri app spans across operating systems - Seeking Alphanews+1.001
2026-06-08XLKApple's major AI software integration and monetization strategy via Siri and iOS/macOS updates directly drive consumer hardware replacement cycles and services revenue.news+2.001
2026-06-08XLREApple gets groovy with macOS 27 Golden Gate; Siri app spans across operating systems - Seeking Alphanews+2.001
2026-06-08XLVFDA decisions on AbbVie's pipeline are critical for mitigating revenue risks from upcoming patent cliffs.news+0.001
2026-06-08XLRESenior housing recovery is a primary driver of occupancy and NOI for healthcare REITs like VTR and WELL.news+1.001
2026-06-08XLBNetanyahu says war with Iran, Hezbollah isn't over after Tehran says it's halting strikesnews+3.001
2026-06-08XLCConsolidation between major streaming players impacts content costs and subscription scale, though it faces significant regulatory scrutiny.news+0.001
2026-06-08XLEOil prices ease after Iran says military operations against Israel are overnews-4.801
2026-06-08XLFCitigroup (C) Announces Full Redemption of $3.15B in Notes Due 2027 - Yahoo Financenews+3.001
2026-06-08XLFCitigroup's Path to 5-6% NII Rise in 2026: What's Driving the Upside? - TradingViewnews+3.001
2026-06-08XLBOil prices ease after Iran says military operations against Israel are overnews-1.201
2026-06-08XLRENvidia CEO's Comments Trigger Buying In AI Stocks; High Hopes For Apple AI - Benzinganews+1.001
2026-06-08XLREApple’s ‘Jalen Brunson Moment’? Dan Ives Says WWDC Marks Defining AI Turning Point, Sees Up To $100 Per Share In Upside - TradingViewnews+1.001
2026-06-08XLBNucor's demand outlook is a primary indicator for US steel consumption and industrial manufacturing health.news+4.001
2026-06-08XLBAs the sector's second-largest constituent, Newmont's confirmed earnings and dividends directly reflect the health of gold mining margins.news+2.001
2026-06-08XLENetanyahu says war with Iran, Hezbollah isn't over after Tehran says it's halting strikesnews+6.001
2026-06-08XLVLilly's dominance in the obesity category is a primary driver for the sector's largest constituent by weight.news+1.001
2026-06-08XLREStrong digital infrastructure demand directly supports the AI and cloud capex thesis for data center REITs like EQIX.news+1.001
2026-06-08XLBUS open: Stocks higher as Iran moves to halt strikes on Israel - Sharecast.comnews-1.201
2026-06-08XLEExpansion of LNG-linked natural gas production supports long-term upstream revenue for the sector's largest constituent.news+4.001
2026-06-07XLKIs Micron the Next Nvidia? Why the 2026 "Memory Crunch" Makes MU Stock a Top AI Buy - TradingKeynews+1.001