Within the 11 S&P 500 sectors, utilities and real estate investment trusts (REITs) have developed a reputation over the years. They have higher yields than most other sectors, and their staid businesses, more about consistent cash flow than rapid growth, made them appeal to certain equity managers.
Specifically, when stocks would falter but bonds would rally, professional managers would load up on these sectors. Rates down, REITs up. And utility stocks, too.
