Summary: There are 7 sector ETFs that make up more than 90% of the S&P 500. All of these ETFs are exhibiting a higher [IV Rank](https://www.tastytrade.com/tt/learn/measuring-implied-volatility) than SPY itself. The basket of these 7 ETFs is currently showing a weighted [correlation](https://www.tastytrade.com/tt/learn/correlation) of 0.65 to SPY. Traders can use Sector ETFs such as XLK (Tech) and XLV (Health Care) to mimic the S&P 500 given the specific weightings of the sectors. Tune in as Tom and Tony dissect this information and cover how to incorporate this information into trade setup and portfolio management.
