Financial ETFs are the worst performers today thanks to Bank of America's near 5% dive in the wake of the suspension of its capital return plan. BofA is a top-10 holding of no fewer than 28 of about 880 equity-based ETFs tracked by S&P Capital IQ.
The Financial Sector SDRP (XLF -0.8%) has 6.35% of its AUM in Bank of America, the Vanguard Financials ETF (VFH -0.4%) has a 5.1% weight, and the iShares U.S. Financials ETF (IYF -0.4%) 4.8%. The SPDR KBW Bank ETF (KBE -0.9%) has a 1.92% weighting.
Previously: Black eye: BofA suspends buyback, dividend hike