Utility Stocks
Top 10 of 31 XLU holdings, updated
As of 12 October 2026, utility stocks are trailing the S&P 500, over the past month and over the longer run. XLU trails the S&P 500 by 3.1 points over one month and ranks #43 of 115 groups Zensei tracks. 16 of the 31 utility stocks Zensei prices in XLU beat the fund this month.
Where utility stocks stand now
As of 12 October 2026, Utilities (XLU) ranks #43 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 3.1 points behind over the past month and 9.3 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, XLU's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. XLU's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Utilities Select Sector SPDR, whose 31 tracked holdings are led by Nextera Energy Inc, Southern Co and Duke Energy Corp. Weighted by portfolio, the fund's holdings trade at roughly 18.6× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
Top utility stocks right now
The largest utility stocks by weight in XLU, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of XLU
- 1Nextera Energy IncNEE12.8%
- 2Southern CoSO7.7%
- 3Duke Energy CorpDUK7.1%
- 4Constellation Energy CorpCEG6.8%
- 5American Electric Power Co IncAEP5.2%
Strongest this month
1-month return, holdings Zensei prices
- 1Vistra CorpVST+6.7%
- 2Pinnacle West Capital CorpPNW+4.0%
- 3Constellation Energy CorpCEG+3.2%
- 4The Aes CorpAES+1.3%
- 5Edison InternationalEIX+0.9%
Utility Stocks vs the S&P 500
Over the week to 12 October 2026, XLU rose 4.1% while the S&P 500 rose 0.4%. XLU and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means XLU won that window.
Prices as of · computed from daily adjusted closes · how we measure
Utilities on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are utility stocks expensive?
The price-to-earnings ratio of XLU as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
XLU holdings: the utility stocks inside
As of 12 October 2026, 16 of the 31 utility stocks Zensei prices in XLU beat the fund over the past month. 3 of them beat the S&P 500. The strongest is Vistra Corp (VST); the weakest is Nrg Energy Inc (NRG). Inside the fund, the holdings move close to the sector.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | NEENextera Energy Inc | 12.8% | −4.6% | −10.5% | −3.5 pts | Weak | Broken |
| 2 | SOSouthern Co | 7.7% | −0.1% | −9.0% | +0.9 pts | Fading | Holding |
| 3 | DUKDuke Energy Corp | 7.1% | −1.4% | −6.4% | −0.3 pts | Weak | Broken |
| 4 | CEGConstellation Energy Corp | 6.8% | +3.2% | +14.3% | |||
| 5 | AEPAmerican Electric Power Co Inc | 5.2% | +0.7% | −7.7% | |||
| 6 | DDominion Energy Inc | 4.3% | −3.0% | −10.9% | |||
| 7 | SRESempra | 4.1% | −0.9% | −12.5% | |||
| 8 | ETREntergy Corp | 3.8% | −1.3% | −8.9% | |||
| 9 | XELXcel Energy Inc | 3.5% | −1.0% | −7.1% | |||
| 10 | VSTVistra Corp | 3.5% | +6.7% | +0.1% |
All 31 XLU holdings by weight: Nextera Energy Inc (NEE) 12.8%, Southern Co (SO) 7.7%, Duke Energy Corp (DUK) 7.1%, Constellation Energy Corp (CEG) 6.8%, American Electric Power Co Inc (AEP) 5.2%, Dominion Energy Inc (D) 4.3%, Sempra (SRE) 4.1%, Entergy Corp (ETR) 3.8%, Xcel Energy Inc (XEL) 3.5%, Vistra Corp (VST) 3.5%, Exelon Corp (EXC) 3.4%, Consolidated Edison Inc (ED) 3.0%, Public Service Enterprise Group Inc (PEG) 2.7%, Wec Energy Group Inc (WEC) 2.6%, Ameren Corp (AEE) 2.2%, Pg&e Corp (PCG) 2.2%, Atmos Energy Corp (ATO) 2.1%, American Water Works Co Inc (AWK) 2.1%, Dte Energy Co (DTE) 2.1%, Centerpoint Energy Inc (CNP) 2.0%, Ppl Corp (PPL) 2.0%, Eversource Energy (ES) 1.9%, Firstenergy Corp (FE) 1.8%, Edison International (EIX) 1.7%, Nrg Energy Inc (NRG) 1.6%, Cms Energy Corp (CMS) 1.6%, Nisource Inc (NI) 1.5%, Evergy Inc (EVRG) 1.5%, Alliant Energy Corp (LNT) 1.3%, Pinnacle West Capital Corp (PNW) 0.9%, The Aes Corp (AES) 0.9%.
Utility Stocks: common questions
What are the top 3 utility stocks?
As of 12 October 2026, the three largest utility stocks in XLU by fund weight are Nextera Energy Inc (NEE) (12.8%), Southern Co (SO) (7.7%) and Duke Energy Corp (DUK) (7.1%). Fund weight shows size inside the fund, not a recommendation.
Which utility stocks are beating the sector?
As of 12 October 2026, 16 of the 31 utility stocks Zensei prices in XLU beat the fund over the past month. The strongest over the past month is Vistra Corp (VST). The list above shows every holding with its weight and returns.
Are utility stocks outperforming the S&P 500?
No. As of 12 October 2026, XLU trails the S&P 500 by 3.1 points over the past month.
Is it a good time to invest in utility stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, utility stocks are behind the S&P 500 on both the recent and the longer window. The rotation map and the read on this page show whether that trend is building or fading.
What is XLU?
XLU is Utilities Select Sector SPDR. Zensei uses it to measure utility stocks against the S&P 500 (SPY).
What stocks does XLU own?
As of 12 October 2026, the largest of the 31 positions Zensei tracks in XLU are Nextera Energy Inc, Southern Co, Duke Energy Corp, Constellation Energy Corp, American Electric Power Co Inc. Each position measured against the fund, with momentum and relative strength, comes with a free Zensei account.
What quadrant is utilities in right now?
As of 12 October 2026, utilities is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: trailing the market
Related sectors
Track utilities 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.