Jay King

Oil and Gas Equipment Providers Have Pick and Shovel Advantage

Good article. It is important to note that IEZ includes both equipment and services companies. (The full name is "iShares Dow Jones U.S. Oil Equipment & Services Index Fund".) Yahoo! shortens the name, which is misleading.

What I have found is that if you create a custom index of just the equipment-focused companies, which is 26 stocks total, that they do outperform the broader equipment + services funds like IEZ, which further re-enforces the point of the article.