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'Be mindful of your risk': Money manager tackles Silicon Valley Bank fallout on ETFs
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In this article There's speculation the Silicon Valley Bank collapse could expose problems lurking in ETFs tied to specific sectors.
Astoria Portfolio Advisors CIO John Davi has financials topping his watch list. «You need to be mindful of your risk,'» Davi, who runs the AXS Astoria Inflation Sensitive ETF, told CNBC's "ETF Edge" this week.
The fund is an ETF.com 2023 «ETF of the Year» finalist. Davi contends the Financial Select Sector SPDR ETF (XLF) could be among the biggest near-term laggards.
It tracks the S&P 500 financial index. His firm sold the ETF's positions in regional banks this week and bought larger cap banks, according to Davi.
Read more on cnbc.comAbout this in other media
Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans cnbc.com /1 week ago
Silicon Valley Bank was the tip of a banking iceberg cointelegraph.com /1 week ago
FDIC to attempt another auction of Silicon Valley Bank: Report cointelegraph.com /1 week ago
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