PWB is trading lower at $159.03 (down 1.55%) as its heavy technology exposure drags on performance despite a broader market rally.
- Information technology, which accounts for over half of the fund's exposure, is lagging as investors rotate into financials and cyclicals.
- Tech leadership remains uneven due to profit-taking and regulatory concerns surrounding AI chips, tempering recent sector strength.
- The decline comes despite cooling inflation data that has otherwise supported risk appetite across other market segments.