Months after the markets forgave industrials, tech, drugs, and many other sectors, judging them to be temporary victims of a natural disaster instead of total roadkill, investors still largely shun banks. INVESCO KBW BANK (SYMBOL KBWB, $41), an exchange-traded fund that owns shares of 24 giant U.S. banks, lost 50% from January 2 through March 23—but from then to October 9 regained less than half that loss. INVESCO KBW REGIONAL BANKING (KBWR, $36), a sibling ETF of 50 midsize and regional banks, is even bloodier. It lost 48% at one point but has barely reclaimed one-third of that damage. (Investments I like are in bold; prices are as of October 9.)
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