XLC's Tepid Performance Tied to GOOGL and META

The Communication Services Select Sector SPDR ETF (XLC) has been a laggard in the S&P 500, despite some notable outperformers like Alphabet Inc. (GOOGL) and Meta Platforms, Inc.

The ETF's technical signals are neutral, with XLC trading between support at $105 and resistance at $114.

Moreover, seasonality trends are not supportive of the ETF.

One reason for this underperformance is the heavy concentration in GOOGL and META (36% combined), which currently lack near-term catalysts.