This ETF offers exposure to the U.S. consumer sector, and as such includes exposure to both consumer cyclical and consumer staples companies (with a few other sectors thrown in as well). Given the variety of component companies included in IYC, pinpointing the price drivers of this ETF can be tricky. Since it isn't a pure sector ETF, IYC might not go nicely with any specific investment thesis. Investors looking for consumer staples would be better off with a more targeted option such as XLP, while those with a desire for exposure to more cyclical firms could select XLY or a similar fund. IYC offers a nice balance of holdings and only moderate concentration, but the connection between the index and a reasonable investment thesis seems to be missing. There are better, more granular ways to play the consumer sector among the other ETF offerings.