US sector ETFs mostly fall Friday; energy ETF rises 2.6%

The dispersion here is the story: energy and semiconductors are carrying the year's gains while airlines and cyclicals lag, so Friday's split between a 2.6% energy jump and broad declines in consumer, financial and industrial names looks like a continuation of that leadership rather than a one-day blip. The gap between energy's 58% year-to-date run and the airline ETF's negative return signals how unevenly the rally has been distributed across sectors. Whether that concentration holds, or whether the laggards begin to close the gap, is the open question worth watching.