Neither an oil plunge nor an economic slowdown in the world’s largest oil importer is rattling some ETF investors. Energy Select Sector SPDR (ARCA:XLE), the $10.74 billion exchange traded fund bogey, absorbed nearly $31 million in new investor money last week. Many investors, seeing a long-term buying opportunity in its rock-bottom share prices, defied last week’s violent China sell-off and oil’s slump to multiyear lows.
At CLS Investments in Omaha, Neb., portfolio managers have added to energy positions slowly even as the sector has underperformed. The ETF strategist firm works with more than 2,500 financial advisors and 1,300 qualified plan sponsors to manage more than 35,000 client portfolios…