5 Best Industrial ETFs

In this article, we discuss 5 best industrial ETFs. If you want to read our detailed discussion on the industrials sector, head over to 10 Best Industrial ETFs. 

5. Invesco S&P 500® Equal Weight Industrials ETF (NYSE:RSPN)

5-Year Performance as of August 14: 65.50%

Invesco S&P 500® Equal Weight Industrials ETF (NYSE:RSPN) mirrors the performance of the S&P 500® Equal Weight Industrials Index, which evenly distributes the weight of stocks within the industrials sector of the S&P 500 Index. This ETF was introduced on November 1, 2006. As of August 11, 2023, Invesco S&P 500® Equal Weight Industrials ETF (NYSE:RSPN) offers an expense ratio of 0.40%, and its portfolio consists of 77 stocks. It is one of the best industrial ETFs to watch. 

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is the largest holding of Invesco S&P 500® Equal Weight Industrials ETF (NYSE:RSPN). It is a prominent less-than-truckload (LTL) motor carrier in the United States and North America. The company specializes in providing regional, inter-regional, and national LTL services, including expedited transportation. On July 20, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a $0.40 per share quarterly dividend, in line with previous. The dividend is payable on September 29, to shareholders of record on September 6. 

According to Insider Monkey’s first quarter database, 37 hedge funds were bullish on Old Dominion Freight Line, Inc. (NASDAQ:ODFL), compared to 34 funds in the prior quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with 292,753 shares worth approximately $100 million. 

The London Company Large Cap Strategy made the following comment about Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in its first quarter 2023 investor letter:

“Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – ODFL outperformed during Q1, reflecting strong operating performance in a negative freight market. ODFL has a relentless focus on service and quality, which resonates with customers in good times and bad. Management’s focus on cost containment this quarter resulted in record levels of profitability, and the company continues to execute on its long-term growth plan. ODFL is widely held as one of the best franchises in transportation.”