---
title: "Technology fund rises 0.7% on chips; discretionary falls 1.4% on Tesla"
url: "https://etf.net/news/technology-fund-rises-0-7-on-chips-discretionary-falls-1-4-on-tesla-2026-09-04"
published_at: "2026-09-04T21:41:55.869Z"
updated_at: "2026-09-04T21:41:55.869Z"
byline: "ETF.net Research"
---

# Technology fund rises 0.7% on chips; discretionary falls 1.4% on Tesla

Friday, September 4, 2026: Tesla, a 17.7% holding in the consumer discretionary fund XLY, subtracted 1.05 percentage points, most of the fund's 1.36% decline; the technology fund XLK rose 0.71% as Micron, SanDisk, AMD, and Intel gained.

By ETF.net Research. Published Sep 4, 2026.

Tesla fell **5.9%** on Friday, a day after its Cybercab event in Austin and a National Highway Traffic Safety Administration inquiry into the vehicle's self-certification. At **17.7%** of the consumer discretionary fund XLY, that one holding subtracted 1.05 percentage points, most of the fund's **1.36%** decline, and reversed Thursday's bounce.

Chart: Tesla fell **5.9%**; Amazon barely moved

Friday billed anyone whose discretionary fund is, in practice, a Tesla position.

August payrolls had just come in at **162,000**, against forecasts in the mid-50,000s, the last employment count before the Federal Reserve's mid-September meeting. Eight of the eleven sector funds finished lower. The technology fund XLK still rose **0.71%**, a second up day.

## Four chipmakers lift technology

Micron, SanDisk, Advanced Micro Devices, and Intel together added **0.74 percentage points** to XLK, enough to cover Apple at a 13% weight and Microsoft at 10%. Nvidia, the largest holding at 15%, was not among the main drivers.

Chart: **Chips** jumped; the mega-caps split

Software did not come along. Palantir fell **4.5%** and Adobe **6.7%**.

Chart: Friday **reversed** a month-long split

The Nasdaq-100 fund QQQ closed **0.18%** higher on the same split.

## Constellation keeps utilities positive as NextEra falls

The utilities fund XLU rose **0.12%**. Constellation Energy, a 6.8% holding, rose **4.9%** and added 0.33 percentage points; NextEra Energy, the 13% anchor, fell **0.7%**. Nuclear and merchant-power names kept the fund positive. The regulated book did not.

## Industrials rise; financials give back Thursday

The industrials fund XLI rose **0.39%**, the session's other gain besides technology and utilities, a second up day inside a month that is still down **5.1%**. Caterpillar, Eaton, Vertiv, and GE did the lifting. The financials fund XLF fell **0.75%**, giving back Thursday's **1.6%** rise, with JPMorgan Chase, Visa, and Mastercard the largest contributors at 0.11, 0.07, and 0.06 percentage points. The health care fund XLV, the communication services fund XLC, the consumer staples fund XLP, the energy fund XLE, and the real estate fund XLRE all finished lower. Netflix subtracted 0.26 percentage points from XLC. Health care's **1.04%** dip sits inside a month still up **4.3%**; energy's **0.87%** decline is a second down day inside a month still up **10%**.

The S&P 500 fund SPY fell **0.38%** at Friday's close. The Russell 2000 fund IWM rose **0.27%**. The month's scores did not change. Friday's did, inside the funds rather than across them.

Source: etf.net, https://etf.net/news/technology-fund-rises-0-7-on-chips-discretionary-falls-1-4-on-tesla-2026-09-04. Please cite the page URL.