Timber & Forestry vs the S&P 500 (WOOD): is it outperforming?
Over the past month, WOOD has underperformed the S&P 500 by 2.9 points. Here is where that puts it in the sector rotation — updated daily.
Where WOOD sits on the rotation map
Timber & Forestry highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
WOOD vs SPY: head-to-head returns
WOOD (timber & forestry) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means WOOD won that window.
Data as of 2026-08-28 · computed from daily adjusted closes · how we measure
The read
Timber & Forestry (WOOD) is losing its lead. It built a 8.3-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 2.9 points behind the market — the Cooling quadrant of the rotation map. Ranked by one-month spread, it currently stands #73 of the 115 groups Zensei tracks.
On the shorter tape, WOOD's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. WOOD's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via iShares Global Timber & Forestry ETF, whose 5 tracked holdings are led by WEYERHAEUSER CO, SMURFIT WESTROCK PLC and INTERNATIONAL PAPER CO. Weighted by portfolio, the fund's holdings trade at roughly 39.1× earnings and 2.1× sales. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
What's inside WOOD
Top 5 of 5 tracked holdings, by portfolio weight.
Timber & Forestry vs the market — common questions
Is timber & forestry outperforming the S&P 500?
Right now, no: over the past month WOOD has underperformed the S&P 500 by 2.9 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is WOOD?
WOOD is iShares Global Timber & Forestry ETF, the fund Zensei uses to measure the timber & forestry group against the S&P 500 benchmark (SPY).
Which stocks are in WOOD?
WOOD's largest tracked positions are WEYERHAEUSER CO, SMURFIT WESTROCK PLC, INTERNATIONAL PAPER CO, SYLVAMO CORP ORDINARY SHARES WHEN ISSUED, RAYONIER INC — 5 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is timber & forestry in right now?
As of the latest daily data, timber & forestry is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track timber & forestry against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.