Financial Select Sector SPDR Fund

Eleven Select Sector SPDRs carve the S&P 500 into industry slices, and XLF is the finance slice - the oldest and most traded way to own American banking as a single line. State Street's fund tracks the Financial Select Sector Index, so the portfolio is the S&P 500's banks, insurers, capital-markets firms and payment networks, dominated by Berkshire Hathaway, JPMorgan and the money-center majors. That concentration makes it the market's reflex trade on interest rates and credit conditions: steepening yield curves and loose spreads lift the fund, recession scares hit it first. Running since December 1998 with tens of billions under management, penny-wide spreads and one of the deepest ETF options markets anywhere, it costs about 0.09 percent a year and serves as both a sector bet and the standard hedge for bank exposure.

On MyRWA, XLF trades tokenized across 3 on-chain venues - see the listings below.